L'Oréal Marketing Strategy : Assignment
Added on 2020-10-05
12 Pages4427 Words453 Views
BUSINESSSTRATEGIES
Table of ContentsINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................31. Analyse the impact of external environment on organisation strategies.................................32. Analysis of internal environment............................................................................................53. Analysis of competitive environment of the organisation by using porter's five force model......................................................................................................................................................6Task 2...............................................................................................................................................81. Evaluation of different types of strategic direction available in organisation.........................8L'Oreal Ansoff Matrix.....................................................................................................................82. Justification and recommendation for growth platform or for strategies................................93. Strategic management plan for organisation...........................................................................9CONCLUSION ............................................................................................................................11REFERENCES .............................................................................................................................12INTRODUCTIONBusiness strategy refers as a course of actions or set of decisions which assists individualsin achieving specified as well as desired objectives in organisations (BSUINESSSTRATEGIES .2019). It also refers to master plan which management use to secure acompetitive position in market, to carry out business operations, plan customers and achieve
desired ends in the organisation. L'Oreal Paris is a French personal care company headquarters inClichy, Hauts-de-Seine and a registered office is in Paris. It known as world's largest cosmeticcompany and developed activities like hair colour, skin care, make-up, perfumes sun protectionetc. This report includes the environmental analysis and strategic growth management plan byusing pestle and swot analysis. Porter's five force model used by company as to precise properlyabout competitive forces. Ansoff model is applied to make the strategic planning in a givenorganisation. TASK 11. Analyse the impact of external environment on organisation strategies.To analysis external environment of business it's important for organisation to makeanalysis of PESTLE analysis (Baker, 2014). Deputy strategy manager is responsible for makingmanagement plan by using recognised appropriate tool. It refers to tool used by companies totrack certain environment in which they are operating or launching a new project. The PESTLEanalysis are:-Political:- These factors determine influence of government upon economy or in acertain industry. Factors includes are fiscal policy, trade tariffs, tax policies etc. As ifgovernment imposed new taxes or duties due to which entire revenue generatingstructure is also changes for this in advance manager is required to make strategies orplan to control impact of taxes upon structure (Bereznoi, 2015). This factor brings hugepressure and opportunity by political institutions to manage at extent governmentpolicies impact L'Oreal operations. Manufacturing company is belongs to France so thepolicies of France government effects them most and operations as well as sellingactivities are effected as according to region where company is operating like UK. Ifimport duty on products increased then manager must increase it's products price so thatprofit can be generated. To minimise this or be in market company is required to makeplan or strategies so that organisation policies can't get effected. Economical:- The factors includes are interest rates, inflation rates, foreign exchangepolicy, economic growth patterns etc. These factors are the determinants of an economyperformance which directly impact business and impressed long term effect uponoperations (Boyd and et. al., 2017). If inflation rate in UK raised then company must
declines it's product and services prices otherwise operations will get effected. Thestrategies and plan helps L'Oreal to control the increment in inflation rate. If interest onloans are increased in other country to minimise it organisation must make advancestrategies or plan. Social:- The factors which scrutinize social environment of a market through whichoperations of organisation is also get effected. This dimension of environment representsnorms, customs, demographic characteristics and values of populations in a range whereorganisation operates. The factors includes age distribution, income distribution, careerattitudes, safety emphasis, lifestyle attitude, population growth rate and cultural barriers.When it comes to make strategies or management plan as well as to target certaincustomer then these factors are essential for marketer to considered so that objectives ofL'Oreal will be accomplished and profit of organisation maximised. The manager mustmake strategies according to customer needs, preferences and also considered the markettrends so that new products or innovation in products are accepted by society. If productsare not expected by society then it become difficult for L'Oreal Paris manager to managestrategic growth in business. To organisation in competition products must according tocustomers needs or price must reliable. Technological:- It refers to automation, technology awareness which market demandsand research or development. These factors pertains the innovation in technology whicheffects the business operation positively as well as negatively. The L'Oreal Paris mustused 24 hours access to their products so that customers don't faced difficulty in buyingproducts (De Massis and Kotlar, 2014). This factor also pertain organisation whether tolaunch new product in particular industry or even in new market. If organisations are notnew technologies to make products then customer retention become difficult. Legal:- There are certain laws ans legislation through which operations get effected inL'Oreal Paris if they get changed or amendment take place in particular law. Whilemaking any strategies, policies or management plan then it's compulsory for organisationto consider safety standards, labour laws consumer laws etc. so that business can't geteffected. There are numerous competitors of L'Oreal Paris to make graph of success it'scompulsory for manager to make policies according to laws and don't run any unethicalpractices in organisation. There are also certain specified laws which organisation must
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