L’oreal Marketing Mix: L’Oreal is the largest corporation worldwide in the personal care industry. It was founded in 1909, and this global cosmetics and beauty company is headquartered in Paris. L’Oreal is a company with a broad and diverse range of interests since it is also involved in areas such as tissue engineering, toxicology, biopharmaceutical, and dermatology research.
Marketing Mix Of L’oreal
Marketing Mix Of L’oreal is brand-based. In Marketing Mix Of L’oreal, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing L’oreal Marketing Mix. Below is the detailed Marketing Mix Of L’oreal.
Let’s talk about L’oreal Marketing Mix.
L’oreal Main Competitors
- Hindustan Unilever
L’oreal official website: www.loreal.com
Product in the L’oreal Marketing Mix:
L’Oreal offers a range of products with brands that meet international standards that cover a broad range of products while meeting the needs of all customers’ needs anywhere in the world. All of its products meet international tests. It involves cosmetics, hair color, skincare, makeup and sun protection, perfumes, and hair care. For India, L’Oreal operates through four distinct divisions, which are as follows:
- Active cosmetics include brands such as Vichy, Inneov, and Sonaflore.
- Premium Products include brands such as Diesel, Ralph Lauren, and YSL.
- Professional-grade Products include Technique, Matrix Essentials, Mizani, and Kerastase.
- Products for consumers (personal care) comprise brands such as Ombrelle, Maybelline, Essie, Garnier, Magic, and Colorama.
The most popular products from the brand include mascara, eyeliner, primers and eye shadows for eyes, eye primers, concealer, foundation, powder, and blush for the face. Lip gloss, lip liner lipstick, lip balm and color for the lips, and nails, removal products for your nails, and hair color in various hues for your hair. Shampoo conditioning products for your hair, moisturizing agents, cleansers and toners for your hair care, and serums for hair styling, are also utilized. L’Oreal also offers a kid’s range of products. The products are offered in various sizes and prices. L’Oreal plans to expand into the Ayurvedic and herbal sectors within the Indian cosmetics segment. They are currently in discussions with companies such as VLCC along with Biotique.
Place in the L’oreal Marketing Mix:
L’Oreal has research and development centers across six locations worldwide, such as Japan, France US, and China, and its products are sold in more than one hundred thirty countries around the globe. The products are available at various places like salons, perfumeries, pharmacies, supermarkets, beauty stores, and by direct mail. Additionally, the company also has a website and partnerships with other sites for shopping on the internet.
With all the required information about the product, consumers can purchase it anywhere globally. With the changing times, the internet has been the main channel to make purchases and purchase. Its activities in India are expanding continuously as the increasing recognition of its beauty products has led to the brand’s popularity and growth. The company’s operations in India are conducted through its wholly controlled company, “L’Oreal India”.
The company has established an industrial plant in Pune in Maharashtra, India. Most items come from overseas, and the rest are produced at the plant. The growth of this brand’s presence in India is due to efficient distribution channels and supply channels. Through a unique distribution plan, L’Oreal has appointed highly trained hairdressers to operate their salons and outlets, offering professional services to clients. It includes treatments and campaigning to promote the brand in establishing a new customer base. This has resulted in several salons owned by L’Oreal in India, where people go for professional and efficient treatments. These salons cater to both genders of men and women.
Price in the Marketing Mix Of L’oreal:
The main source of revenue of L’Oreal for India includes the goods that are related to the consumer division. The urban consumer is more price-conscious than depicted earlier. Regarding premium goods, buyers are prepared to shell out high-end prices. Since many L’Oreal products are part of the category of high-quality products, The company was required to adhere to a premium price policy for these products. The company has decided to continue its value-added pricing policy for all its products. Certain brands of L’Oreal are marketed to the middle-class segment of society. The price policy for these brands is affordable, so customers can afford them.
To break into an untapped market segment, the business has provided discounts and promotions specifically on the products they are offering as introductions. This reduces the cost of costs and results in the growth of sales, which results in increased revenues. To achieve an acceptable balance between pricing and products, the company has made steps to expand the stock of its Keeping Units, as this helps create an equilibrium between pricing policies.
Promotions in the L’oreal Marketing Mix:
L’Oreal has a slogan for advertising that has always been the basis of the brand. The initial motto used for the saying was ” Because I’m worth it”. It was later replaced with ” Because you’re Worth it”; in 2009, the slogan was changed 2009 to ” Because we’re Worth it”. The shift in times, attitude, and ideas can be seen in shifting slogans. The move to the”we” as a letter ” we” was meant to signify the consumer’s involvement in all of the brand’s products.
L’Oreal is an internationally recognized brand, and its advertising is of a high standard. Beautiful and well-known models of the highest quality are utilized in the promotions. In India, the campaigns are carried out using local methods and international ways that appeal to an array of consumers. The advertising agency they have hired for the campaign is ” McCann Erickson”. The former Miss World “Aishwarya Rai Bachchan” has been the brand’s ambassador and face internationally, and at present, actress ” Sonam Kapoor” is featured in L’Oreal ads. The ads are on various radio channels, television channels, fashion magazines, neon signs, and hoardings.
Samples of products for free are given along with other products or in salons to promote the new products. Sometimes, discounts are given on certain products to boost the number of sales and also to increase awareness of the product. In many instances, surveys on customer satisfaction are conducted with the help of those who have tried the products. The results are then released as part of the promotion. For some of the L’Oreal brands, the company has implemented a “viral market strategy” that entails that it is the product and brand that are advertised via marketing messages. The advent of the internet has opened doors to every brand across all fields, whether marketing or promotion.
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