Introduction In this presentation new product line has been introduced by L'Oreal that aims to target new segment of customers and thus influence consumers towards firm. Business introduces L'Oreal White Perfect cream product for women of the age group 25-35 as they are more focused towards their skin care. Hence, it helps L'Oreal to influence target consumers towards firm and thus enhances sales and profitability of firm in market. For this, business aims to undertake effective marketing mix strategy in regard to promote the products or services and enhance business sales in market.
New range of L'Oreal
Marketing of L'Oreal White Perfect Cream Introduction of such cream which provides whiteness as well as glow attracts women of 25-35 age group and thus helps them to maintain their skin in dry season. Also, it is considered as the best product in body care range and thusavailableindifferentflavoursthatinfluences consumers towards firm.
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Positioning the brand L'Oreal marketing team carries out best functioning in terms of improving the brand image of firm in the minds of consumers. Thus, it could be identified from evaluating STP which is as follows- Segmentation Targeting Positioning
Pricing strategy L'Orealidentifiesitstargetmarketforwhomthe productismanufacturedandthussetstheprice accordingly. For instance, White Perfect cream is approximately ranged up to Pound 15. Also, it is charged differently as per the size and flavour and thus satisfies the needs of customers. Due to such competitive prices it is demanded more by customers andthussalesandprofitabilityoffirmcanbe enhanced.
Marketing strategy L'Oreal aims to undertake effective marketing strategy such as promoting the White Perfect cream through social media and deliver information to wide range of consumers. A majority of people are using social media and thus they could be informed easily. Also, TV advertisement and hoardings are considered as thebestwaythroughwhichconsumerscanbe attractedtowardspurchasingL'Orealproductand improve business performance in market.
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References Goh, S. H. and Eldridge, S., 2015. New product introduction and supplier integration in sales and operations planning: Evidence from the Asia Pacific region.International Journal of Physical Distribution & Logistics Management.45(9/10). pp. 861-886. Hoyer, D. W. and Maclnnis, J. D., 2012.Consumer behavior. Cengage Learning. Krush, M. T. and et. al., 2013. Enhancing organizational sensemaking: An examination of the interactive effects of sales capabilities and marketing dashboards.Industrial Marketing Management. 42(5). pp. 824-835.