Project for Loreal
Company established itself in Mauritius in the late nineteenth exactly on the 14th July 1972. L’Oreal’s success is built on a strong foundation, one of the world’s largest beauty products company. L’Oreal has gained its popularity on the market, as it is one of the companies in the world that works closely with cosmetology and dermatology research. At L’Oreal, we have made cosmetics the main focus of all our energy and know-how for nearly a century.
We are full committed to put all our expertise and research resources to work for the well being of men and women in all their diversity. 2. 0 About the product L’Oreal is a brand that is extremely popular among women; it has been enjoying success and prosperity for many long years. Anyone who thinks of beauty thinks of L’Oreal. The brand produces a great range of health care products and decorative cosmetics that every women enjoyed, but relatively unknown among men. So L’Oreal has an image that is strongly feminine, but L’Oreal wants to change this image now.
Specialists devote their time to seek and develop ecological cosmetic product to give a fresh new and dynamic life to men. L’Oreal has come forward with the L’Oreal Paris brand (Men Expert), comprising of an exclusive range of men’s grooming products. Including moisturize, shaving cream and gel, wrinkle decrease and cleanser. L’Oreal Paris brand (Men Expert) wants to touch all the targets, from young men with their skin problems to adults men with their first tiredness signs and also old men. L’Oreal will come forward with a complete pack of product each of these products will be of different purpose.
Company vision L’Oreal has gained its popularity and reputation on the market by providing excellent goods and services to its customers. By promoting L’Oreal Paris brand which was originally designed for women has been very successful for L’Oreal. Base on market research L’Oreal has come forwards with new products which is the L’Oreal brand (Men Expert) which is mainly designed and targeted for men, as beauty and fashion has gain ground in the society.
L’Oreal vision is to develop new products to cop with the changing fashion environments and to work toward the unlimited wants of the customers so as to provide to each and everyone of them customer satisfaction. According to L’Oreal’s research and development department, their commitment and curiosity has proved that in a short lap of time the Company should be able to compete with their competitions such as Avon, Nivea, Yves Rocher and many others and be the number one on the market. . 0 Company mission We recognize that our first responsibility is to our customers with whom we want to build a long-term business relationship by providing products and services that meet and exceed their expectations. L’Oreal wants to add value to L’Oreal products so as to give legendary customer services so as to achieve customer satisfactions. In the past L’Oreal has accomplished its goal by providing to women with a huge variety of L’Oreal products.
In 2010, L’Oreal is coming up with a new innovation, which is to help men of all ages in Mauritius to express their individual personality and to have self-confidence in them by implementing L’Oreal brand (Men Expert) in their daily life. This will also give value to our business and to the working lives of our employees. 5. 0 Comprehensive marketing plan L’OREAL wants to target only men this time, with the launching of L’Oreal Paris brand (Men Expert), consisting of eight new products such moisturize, shaving cream and gel, wrinkle decrease and cleanser.
These products will target men of all ages that are from adolescence to middle aged men and as well as old men. According to the market research, survey show that 92% of the population thinks it’s normal for men to use cosmetics and to get a healthy skin. This can be achieved by both a combination of creative and commercial thinking to help L’Oreal Company to launch the L’Oreal brand (Men Expert). The segmentation of L’Oreal for the product L’Oreal (Men Expert) would consist of the demographical, psychographic, Target and Positioning.
According to market research department, the demographical segmentation should deal with ages starting from 18 to 60. That is form adolescence to adulthood, in other words product will fit each and everyone regardless of the ages. Concerning the psychographic, L’Oreal has come forward with a perspective to promote the product based on lifestyle and statues of people in the society. L’OREAL should consider the market need that is providing quality product of L’Oreal (Men Expert) to the customers, we must not forget that the customers are king and also that customer will want value for money.
Exemplary services are required to build a sustainable business that will devote itself toward customer satisfaction. L’Oreal is well aware about the level of competition on the market. Therefore, L’Oreal should design the L’Oreal (Men Expert) in a way that it would differentiate its form competitor’s ones and will attract customer at the first sights. If these criteria are achieved, L’Oreal should become a profitable and sustainable company in term of Men Expert. The key to the marketing strategy for L’Oreal is to focus on the L’Oreal (Men Expert). L’Oreal can covers about 90% of the whole market with the L’Oreal (Men Expert).
This is because it produces products according to the needs of each segment of the market. Thus, L’Oreal is able to address all the different segments, because each and everyone will feel at ease and comfortable when using the L’Oreal (Men Expert). Based on the SWOT Analysis, L’Oreal will be able to know its weaknesses as well as its strengths and opportunities and threats. Thus L’Oreal will be able to develop strategy concerning the L’Oreal (Men Expert). the main objective would be to position L’Oreal as the market leader with the L’Oreal products that is the Men Expert including, serving domestic market as well as the international markets.
The marketing strategy will seek first to create customer awareness concerning the offered products and services. The second marketing method will be advertisements placed in numerous places such as beauty and lifestyle magazine, bill board, fashion show, and as well as in international market. 6. 0 SWOT ANALYSIS SWOT analysis is an important step in planning for the future. The role of SWOT analysis is to take the information from the environmental analysis and separate it into internal issues (strengths and weaknesses) and external issues (opportunities and threats).
Once this is completed, SWOT analysis determines if the information indicates something that will assist the firm in accomplishing its objectives, or if it indicates an obstacle that must be overcome or minimized to achieve desired results. 6. 1 Strengths * Motivated Workforce The main strength of L’Oreal Product is the fact that the staff is motivated, committed, competent and dedicated. They work hard with an objective in mind which is to delight the customers so that the latter might have a memorable and formidable experience. The aim is to create the “wow” effect to the target market. * High Quality Product and service
L’Oreal has been established since 1909. When we speak of L’Oreal products, things like professional beauty advice, dream hair color, ideal skin care regimen, beautiful styling looks, hair care recommendations and a range of face, eyes, lips and nails products crop up to our minds. Hence, the three important aspects namely beauty, professionals and care give us the guarantee that the products are of high quality and harmless. Also note that, the staffs posses medical, beauty care and communication background. These aspects help to ensure the presence of great confidence that what we are providing the best product.
Also note that L’Oreal is continuously involved in research and innovation in the interest of beauty which assures that the L’Oreal Cosmetics offers the best products to their consumers. * Good Reputation Our Company, L’Oreal, one of the world’s top beauty care brands, offers women on every continent, beauty and personal care products that incorporate the latest scientific advances. Infact, The Group is committed to remaining loyal to both local and international suppliers. More than 75% of our partners, in terms of purchasing value, have been working with us for ten years or more, and the majority of them for several decades.
In other words, L’Oreal is already well known in the market for its good reputation and enjoy high market share. Hence, customer’s loyalty is already present. The only difference will be L’Oreal will be launching L’Oreal products and it will target men only. Hence, the ever present reputation will help to further lay confidence in the new product launch. * Work in collaboration with other organizations L’Oreal will also be working in close collaboration with other big organizations such as hypermarkets, luxurious and prestigious beauty salons and spas.
In addition, L’Oreal Beauty experts and counselors are already working hand in hand with shows organizers such as ‘Mr. Cool’. * Cost Advantage L’Oreal is already sustaining profits that are exceeding the average for its industry, the firm is said to possess a competitive advantage over its rivals. Our firm is able to deliver the same benefits as competitors but at a lower cost (cost advantage), or deliver benefits that exceed those of competing products (differentiation advantage).
Thus, a competitive advantage enables us to create superior value for our customers and superior profits for our company. . 2 Weaknesses * Unsuccessful advertising campaign The coordination and the control of the activities and image in the worldwide market are also viewed as a weakness in the part of L’Oreal. Due to its worldwide marketing strategy, there are also dissimilarities brought about in the campaign of L’Oreal products as to what image they are to project. Hence, these unsuccessful campaigns may have a negative effect on consumers, thus causing an impact on the sales of L’Oreal product meant for men. * Problem of control It is obvious that L’Oreal will have to face decentralized organizational structure.
Hence, due to sub-divisions problem of control may crop up. This will in turn slow down the distributions process of the Company because of the need of giving reference to the other Board members and directors of the Company. It will also have difficulty in finding out what division is accountable for the past L’Oreal pitfalls of the Company 6. 3 Opportunities * Expansion of the business According to the trend of the past years, the tourism industry will greatly expand in the future, with the arrival of more and more tourists in Mauritius.