Marketing Essentials: L'Oréal Marketing Strategy Report

This report examines the core principles of marketing, using L'Oréal as a case study to illustrate key concepts. It explores marketing functions such as market planning, emphasizing the importance of aligning strategic goals with the company's mission and vision. The report also delves into market research, highlighting its role in understanding customer needs and competitor analysis. Furthermore, it discusses product development and its significance in creating a strong value proposition. The analysis extends to the interrelationship between marketing and other organizational departments like Human Resources and Research and Development, showcasing how these departments work together to enhance product adaptation, customer value, and overall business success. The report underscores the synergy between marketing and R&D in designing effective marketing campaigns and product innovations.

Marketing Essentials

INTRODUCTION
 Marketing essentials is basically the methods and tools which helps an organization in
effectively advertising their products and services and thus provides the foundation to
differentiate them from that of competitors.
 L'Oréal is a personal and beauty oriented company which came into force in 1909 Eugene
Schueller and situated in France.
 It mainly addresses the products related to skin and cosmetics like shampoos, hair colours etc.

Marketing function roles along with responsibilities
 Marketing function defines the role that aids an organization to recognize & source the successful and potent
products for market in which they operate and finally promote the same by distinguishing their products from
substitute products.
 Numerous types of marketing functions encompass

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Market planning
 Marketing plays the role of market planner, as it makes suitable plan that may help in obtaining
organizational goal.
 Market planning constitute the foremost function of marketing. It is all about prioritizing and organizing the
various activities which are required to attain the long term task or goal.
 The major role of marketing is to obtain the in depth information on the various methods to sell the products
and services.

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 An effective marketing helps the company to align their strategic goals with their mission and vision.
 In contrast to this, the main responsibility of marketing is to design a comprehensive and efficient situational
analysis which includes competitor and regional SWOT analysis.

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Market research
 Another most important responsibility of marketing includes market research under which the companies
gather information about the market, its target customers and other attributes.
 which forms the basis of their value preposition.
 An extensive market analysis helps the companies to recognize the different market opportunities that
prevails for new products as well as existing products therefore the primary role played by marketing.
 focuses on providing detailed information about the competitors, customer needs and demands, distribution
channel etc.

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Product development
 This is one of the most crucial function of marketing as each and every organization
is highly dependent on its product for their successful business.
 The entire value preposition is based on product development
 which is basically about designing the new product and differentiating it from the
products of competitors.

Interrelationship of marketing with different organizational departments
HR and marketing
 Marketing is basically the branding of products and its communication to wide audience.
 It deals with how effectively an organization is able to promote and advertise its products in
broader market.
 On contrary to this, Human resource is actually Branding in form of employer to potential
employees which are useful for increasing value of an organization.
 L'Oréal focuses on their great interrelation where they both complement one another.

 The more marketing activities addresses customer value, enhance
the intensity of product adaptation, alleviate customer churn as
well as lower down the acquisition cost
 better would be the cash flow of company
 Thus both the departments have an equal contribution in
expansion of a company.

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Marketing and Research and development
 These two departments are commonly focused towards understanding the customer needs.
 R&D department is mainly involved in the development of new product as well as bringing
innovation and modification in existing products.
 This department in L'Oréal enable its marketing department to design a powerful marketing
campaigns along with advertising strategies.
 R&D department of the company endeavours to design the new product or add multiple features
in it whereas marketing department interpret and translate
 these changes with a view to entice the customers thus establishing synergies between both the
departments.