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MG 412 Principles of Marketing – Assignment

   

Added on  2020-10-22

9 Pages1343 Words66 Views
MG 412 Principles ofMarketing

Table of ContentsINTRODUCTION...........................................................................................................................1Background on the Chosen Brand...............................................................................................1Coverage of market trends including Key PESTLE issues.........................................................1Explanation of the new product, proposed target market and key competition..........................2Visual image of the brand extension...........................................................................................3CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6Online...............................................................................................................................................6

INTRODUCTIONPrinciples of marketing is the approach which involved various kind of activity that helpsto transfer the goods and services to the end consumers. Besides, that principles of marketingpromotes the product, price, place that helps to improve the company overall performance.Presentation will be covering the important expects of marketing and how they promote Brandand helps to gain the interest of target customers. Background on the Chosen BrandL'Oreal is the high leading cosmetic brand in across the world were they target womenwho fond of beauty products and use in daily life. The focuses of L'Oreal towards the fullfillmentof target audience needs and wants.Kapferer's Brand Identity PrismBrand identity prism model helps to determine the new brand strategies and built up thestrong image in front of the customers. Brand identity model includes some following points.Physique : Physique of the brand shows its unique identity through which they attract thecustomer attention such as L'Oreal.Personality : Personality represents the brand level and how they interact with outside theworld. Such as L'Oreal has presenting its appearance through its high quality beauty products,through brand ambassador who well attract the target buyers.Culture : culture define brand values and beliefs such as L'Oreal believes that in integrity,respect, courage and transparency to employees. Relationship: Relationship define the bond between company and its stakeholders. L'Orealmade a strong bond by offering the faithful beauty products with no complains. Reflection: the stereotype user of the brand. A brand is likely to have several buyer persona butL'Oreal has gone with their target market.Self Image: Company should try to build image as per their customer wants. L'Oreal alwaysmeet the needs of its buyers and try to make them happy with nourishing product or services.Coverage of market trends including Key PESTLE issuesPolitical : Political factors affect companies through often changes in code of conduct.Manufacturing companies got highly affected by the political factor. Several policies andprocedures affect the growth of L'Oreal.1

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