L’Oreal Changing Face of Beauty Marketing - MyAssignmenthelp.com

Question: Discuss about the LOreal Changing Face of Beauty Marketing. Answer: Introduction: LOreal is the company that has been started in 1909. It a manufacturing firm that deals with the cosmetics and skin care products. It is also the first company that has produced the hair color. The company is based at France and stated selling its products in salons. From 1912, the company initiated its operation for consumers and sold the products in the market of Europe. The company aims to provide the best quality products to the customers in every range[1]. The company has released the products in different division so that every type of customers can afford to buy the products of this brand and the brand can have high presence in the market. The company deals with around 500 brand having many products. As that company serves the market with many products but the hair care range of LOreal is one of the best ranges of hair care products. As far as the market share of the company is considered, it has been analyzed that LOreal is the company that is among the leading brand in hair care products all over the world[2]. The below figure describes the growing sales of the company in different regions of the world. The figure describes that statistics of the sales of the company worldwide from the year 2009 to 2016. It has been identified that the average sales of the company is around 25.84 billion euros. LOreal is observed to be one of the leading brands in the industry of hair care and beauty products. The research depicts that the estimated sales of the company by 2018 would be approximately 28.61 trillion euros worldwide. This figure provides the information about the market share of the company in different regions in 2016[3]. Western Europe is the areas that have been considered as the great market for the company as the company owns largest market share in this area. The industry of cosmetics and beauty products in very competitive but still LOreal is the brand which is considered as among the top brands that provides a range of products to the customers. The above figure suggests that LOreal is the brand with largest market share among its customers followed by PG and after that Unilever accounts the third position. Competitors analysis: In Australia, LOreal was considered as one of the leading market player in 2015. As far as the competition of the company is considered, it has been analyzed that there are many competitors for the company such as PG, Unilever etc. but for the hair care products of the company, the brands that act as the close competitors are Pantene, tresemme and dove. Dove: Dove is the brand that has made its image of the natural products that helps the customers to keep their hair natural. The hair care range of dove provided shinier and smooth hairs. This brand serves the products for women. Pantene: Pantene is the products of PG that exclusively deals with hair care products such as shampoo and conditioner. Pantene Pro V is the most recent and one of the most trusted products by the customers. Pantene have products that worked according to the type of hair and thus used by many consumers. Tresemme: It is the brand that serves the customers with keratin range of shampoos. It is one of the luxurious brands used by the people. This brand is mostly used by the professionals.: Product: As discussed earlier that LOreal is the brand that is wide range of products in it. The products of the LOreal are divided under the following categories: Consumer products: This category of products involves all the products range that is served to the customers with competitive prices. These products are for all types of customers. This division of the brand consists of products in hair care. The brands that are included under this category are LOreal Paris, Garnier[4]. Professional products: This is the category that serves the customers at the commercial level. The brands included under this category are LOreal professional, Kerastase and matrix. These brands generally cater the need of the salon stylists. Luxury products: This category of products involves the prestigious products of the brand that are been sold at premium prices and are known for their quality, innovation. The LOreal Paris total repair 5 falls under this category.[5] Place: According to the division of the product range, the products of the company are available to all the customers in the world. The company focuses on the large network distribution so that they can sell their products everywhere. Acquisition is the strategy adopted by the company in order to make their brand presence in the market. The growth of LOreal is commendable and the company operates in around 130 countries[6]. The products of the company are available in retail store, departmental stores, supermarkets, salons, pharmacies etc. LOreal also has its exclusive stores that are very attractive. Price: As discussed that the company has division of products according to their quality and the characteristics associated with the products. Thus, company adopts different pricing strategies in order to decide the price of the products according to their division. The luxury division of the products has premium prices and thus has been set by the premium pricing strategies while the consumer division products of the company have competitive pricing[7]. Most of its products are based on the value based pricing method. This is because the company set the prices of the products according to its value. Promotion: LOreal is an international brand and thus spends a huge amount of money in promotional activities of the brand worldwide. The slogan of the company is very attractive and strong that says because we are worth it. The brand believes in promoting its products at great level. The brand ambassadors of the company are Jennifer Lopez, Naomi Watts etc. and in India the brand ambassadors are famous Bollywood stars such as Sonam Kapoor and Aishwarya Rai and Katrina Kaif[8]. The company uses almost all the branding techniques such as TV ads, commercials, Magazines, Print media, brand endorsement, sponsorship etc. Target market and buying behavior: The above picture clearly defined the target market of the company. It suggests that the different division of the company is based on different market and the needs of the different customers of every type[9]. The company focuses on serving the customers of all ages and gender. The products of this company can be sued by men as well as women and a range of products is also there that focuses on teenagers. The buying behavior of the customers can be defined as the behavior and the response of the people towards the brand or the products. This behavior is affected by many factors and ultimately affects the buying choice or decision of the customer. As far as the buying behavior of the customer of LOreal is considered, it has been analyzed that almost all the customer of this brand are brand loyal and makes the decision according to the quality of the products that are offered by the brand. As the target market of the company is divided according to the products decision of the company. Thus, the buying behavior of the people also differs. In case of LOreal the major factor that affects the buying choice and behavior of the customer is social factor. This is because LOreal is a very well-known brand and also acts as the status symbol. Conclusion: LOreal is the brand that is very much trusted by the customers in Australia as well as in the whole world. This is because it is the brand that serves the market with wide range of products in hair care such as shampoos and conditioners that is of different prices. The products of this brand are affordable by nay customers according to their values[10]. The company focuses on serving the customers of all ages along with products for men as well as women. The strategy of promoting the brand at higher level helps the company to have great brand presence all over the world. The company not only serves the consumers but also serves the commercial customers such as salons and professional stylists. Bibliography: "How LOreal Is Changing The Face Of Beauty Marketing The Content Strategist".The Content Strategist. Last modified 2017. Accessed May 8, 2017. https://contently.com/strategist/2014/08/12/how-loreal-is-changing-the-face-of-beauty-marketing/. "LOral Paris: Make-Up, Skincare, Hair Care, Hair Colour Styling".L'oral Paris. Last modified 2017. 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