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Principles of Marketing and Communications in a Digital World pdf

   

Added on  2020-12-18

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Principles of marketing &communications in a digitalworld

Table of ContentsINTRODUCTION...........................................................................................................................1Description of the new product .......................................................................................................1Analysis of the market for Hair straightener by L'Oreal.................................................................3Strategy for the segmentation, targeting and positioning of the product.........................................5Segmentation ..............................................................................................................................5Targeting ....................................................................................................................................5Positioning .................................................................................................................................6Marketing Mix for this product .......................................................................................................7

INTRODUCTIONThe present business environment is highly competitive and demanding, due to increasein number of customers, organisations and products within the global market. In order to increasesales, market share and profitability organisation or companies focus on entering into newmarket as well as launching a new product (Pedersen, P and et.al 2017). The present report is incontext to L'Oreal Paris, which is the biggest beauty and cosmetics products company in theworld. The company offers a wide range of hair care products such as Shampoo, Hair cream,Colours etc in the global market. The report will include a brief description about a new productwhich the company will launch within the market to attract more customers and increase theirprofit. The report will also include a market analysis to identify various factors that can affectlaunch of new product. Description of the new product The Loreal is a leading company can manufactures a wide range of beauty and hair careproducts and offer these products all around the world. The company is planning to introduce anew product within its global market to increase its sales and profit. The product is a hair1Illustration 1: L'Oreal Brand Image(source): L'Oreal Brand , 2017

straightener which can be used with various other products of the company such as hairstraightener lotions and creams by L'Oreal Paris (Quinton and Simkin, 2017). The product willbe a part of existing hair care products offered by the company. The hair care products are thosewhich assist in controlling behaviour and properties of hairs that supports its maintenance in adesired and controlled manner. The company has various existing products that supports haircare such as hair sprays, hair conditioners, shampoos etc. For bringing an innovation in theproduct line and to tract more customers L'Oreal needs to launch a new product – Hairstraightener by L'Oreal. It is a product that helps in making hair straight and soften tightly curledhairs. The straightener also have a property of making curls loose. The Hair straightener isdeveloped to use safely with suitable hair care products such as heat dry creams or lotions. TheHair straightener needs to be used with care as it may cause eye and scalp irritation due to othercreams needed along with it. L'Oreal provides provide proper guidelines to use this productsafely (McCreanor and Goodwin, 2017). The product is checked under Quality assurance andgood manufacturing practices. The company is launching this product for customers who needsto make their curly hairs straight, the major benefit of this product is highly efficient and fast.The company also develop the Hair straightener with easy to use properties. The customers caneasily use this product at their homes to make their hair looks good and attractive. Theorganisation also considered its price by minimising cost of production as the hair straightener isproduced by using most of the resources which are used within the manufacturing of otherproducts by L'Oreal. 2

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