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Introduction.
After reviewing the data provided by L’Oréal, we recommend focusing the marketing efforts on the ombre hair colouring style. L’Oréal can successfully market this style trend through the development of several campaigns on major social media platforms to promote the new product. We are confident that a strong social media presence will allow L’Oréal to mass promote its new product in a feasible fashion, while capitalizing on the strong L’Oréal brand.
Background.
Hair colouring has been a critical focus at L’Oréal for decades. In the 1950’s, The hair dying process was reduced from five long steps to a simple, one step solution. In 1966, L’Oréal launched home-colouring kits to meet consumer trends across the world. Despite a reputation
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Like several of L’Oréal’s products, they should utilize a market based pricing strategy, setting the price of their ombre product according to the prices of the similar products in the market. Current competitors price their colour products between $7.97 and $11.97. L’Oréal should remain competitive with these products by pricing their products in the upper middle range, between the $10-$12. Our team believes L’Oréal can afford to charge a slight premium for their products because of their brand reputation, but should not leave the upper limit because the demand for the products is likely elastic.
Alternatives, Risks, and Assumptions.
Our biggest assumption lies in the idea that YouTube signifies grassroots support for a particular style.
Another assumption lies in the idea that visibility from partnerships with beauty vloggers and “It-Girls” will translate into sales. An alternative marketing strategy could be to hire a professional celebrity spokesperson. However, we believe that this would add significant risk for L 'Oréal as it would again have to identify fads vs. trends in order to choose a spokesperson. Other companies have experienced similar scenarios this year, such as Ralph Lauren’s and Speedo’s sponsorship of Olympic swimmer, Ryan
Celebrity endorsements can make or break a product and even a company. Especially in today’s world many teens will buy a product just predominantly based on who endorses it. For example, Beyoncé promotes both Pepsi and H&M. She is a great representative for both because she is a really big celebrity and she is very well known. She also has a lot of influence. Young girls would love to dress like her and with H&M endorsing her they get that demographic. Pepsi made a good choice because she, like the previous celebrities they endorsement deals with, is a very public figure with a very big name. Many teens and young ...
The theme of The Super Sizer mascara is big, bold, bright, and noticeable. On the other hand, the theme of Lash Potion is enchanting, elegant, psychedelic, and spell-binding. You can get a rich sense of these themes through the commercials’ use of colors, phrases, and setting. The colors of The Supersizer are bright, bold colors whereas the colors of Lash Potion are more psychedelic. The phrasing of the commercials go hand-in-hand with the theme of each of the commercials. For The Super Sizer phrases like “supersize your lashes, advertise your eyes” and words like “dramatic” emphasize their theme of big and bold. However, for Lash Potion phrases like “This brush has magical powers” and “spell-binding volume” assert their enchanting theme. The settings of each commercial show a large portion of contrast in the two commercials. The setting of The Super Sizer is in a loud, busy city with Katy Perry as a giant in the middle of it. The setting of Lash Potion is in a quiet apartment where Emma Stone is casually getting ready for what seems like a night out. In addition to these differences, the commercials are peculiar in their choice of their endorsers. The Super Sizer’s endorser Katy Perry is a well known pop artist known for being over the top, bold and gorgeous. Having Katy as the endorser attracts her fans towards the brand. For Lash Potion their endorser is Emma Stone, a respected actress known for her iconic look, loveable personality, and versatility. Emma being the endorser makes anyone who has watched her films attract to what she is in, attracting them to the
"Toxic Chemicals Used in Salon Products." Women's Voices For The Earth. N.p., n.d. Web. 30 Apr. 2014. .
Marketing companies know that by associating a product with an athlete it can drastically increase sales. Fig 1. Gaines, Cork. "... ... middle of paper ... ...
Once the target market has been identified it is important to develop a marketing strategy. In today's fast paced, information overloaded society; conveying a message about a product seems to be more difficult than ever. The consumer is bombarded with advertising everywhere they look. Today advertising not only exists on television, radio, magazines, and newspapers, it can be found on billboards, park benches, in our mailboxes, on buses, taxis, at sporting events, and on clothing.
Chemistry is also beneficial in studying the chemical construction of hair dye and therefore learning how and why it works. The first safe commercial hair color was created in 1909 by French chemist Eugene Schuller, using the chemical paraphenylenediamine.
What would happen to your business if the minimum wage were drastically increased? Could you afford it? What impact would it have on those making more than minimum wage? The questions have been debated for sometime, but recently the debate has intensified because President Obama made a proposal to raise the minimum wage to $9 from its current status of $7.25. Bustamante’s article “$9 minimum wage sounds good but it would be bad public policy” focuses on the negative affects implementing a policy to raise the price floor on minimum wage would have on the United States. There are three key principles of economics that Bustamante touches on in the article, the first is people respond to incentives, the second is people face trade-offs, and finally a country’s standard of living depends on its ability to produce goods and services (Mankiw, 2012). After summarizing the article the goal is to identify the impact this policy will have on supply and demand, discuss the changes, and draw the supply and demand graph to detail the change.
Due to the incredible strength of L 'Oreal 's brand, the company has been able to utilize market penetration on an annual basis by creating an association between L 'Oreal and Christmas or Mother 's Day, Dad 's Day. By offering boxes composed of a multitude of products and promotion, the company allows to introduce its products to its customers or consumers. It offers them several products in the kit so that they can buy them later. Also, she must support the product through innovation and communication with to continue to stand out from the
Pricing is an important aspect of every business. Chief Financial Officer’s (CFO) use pricing to create financial projections, establish a break-even point, and calculate profit and loss margins (Power Point, 2005). It is the only element in the marketing mix that produces revenue. Price is also one of the most flexible elements of the marketing mix as it can be changed very quickly. This is usually done to beat competitor prices in an attempt to fix the product’s market value position very low (Anderson & Bailey, 1998). After all, high prices make it difficult to become the market share leader. The leading US retailer, Wal-Mart, is an expert at low product pricing as evident in 2004 with $250 billion dollars in sales to their 138 million weekly shoppers. However, they are also responsible for reducing prices so low that it drives specialty stores out of business. This is the effect Wal-mart has had on many toy stores and has almost closed the doors of the famous toy store Toys “R” Us Inc.
Most people will use beauty products every day in order to be more attractive, whereas the cost is very high. Hence, customers want to obtain a low price in the stage of transaction.
Today, vast product selections require marketers to identify and understand their target market, and to ensure their message is specifically directed to, and clearly received by their target market. In Dove’s example, early marketing strategies targeted all woman who needed an alternative to harsh soaps. However, as soaps progressively became less harsh, the Dove brand required more strategic positioning in the minds of their consumer. When speaking to Dove’s re-positioning efforts, Flagg (2013), points out that while similar products associate brand image with slender, stereotypical models, Dove’s “2004 campaign for Real Beauty” (p.1) specifically targeted ordinary women, celebrating women’s diverse body shapes, and the importance of every woman feeling good about herself (p.1). With ever increasing product offerings entering the marketplace, marketers must clearly communicate to their target group why their product is right for them, as compared to other
In a patriarchal context, Alba has been created as sex symbol through the Hollywood entertainment industry, which defines the control that men have over what is considered beautiful in advertisement, such as the Revlon ad: “Most reviews about film and TV define Jessica Alba as the reason to watch the show” (Reed and Saukko 215). This type of promotion from a primarily male-dominant industry has turned Alba into a role model for youthful beauty. This has led to commercial contract with make-up companies to reinforce this popularized view of her being an idealized and objectified template for beauty. This type of promotion defines why Alba has not played a strip dancer in films, much as Sin City, but she can be converted into a wholesome and earthy woman that promotes high-class make-up products for women. These are important aspects of gender and the patriarchal foundation of the advertisement, which define Alba’s role in the ad and the way she is presented for the sale of this
Branding experts could not imagine how Olper’s could distance itself from its parent company’s incredibly unappetizing, chemical-laden, and non-edible roots. Yet, by the end of 2006, sales for Olper’s Milk had reached Rs.1 billion (approximately US$ 15 million) and in 2008, the brand has a market share of close to 22 percent—second only to Milk Pak (estimated at 40 percent). The critics had to grudgingly accept that the new entrant to the multi-billion rupee packaged milk category meant business.
Intuitively, a cost-plus approach sets a lower boundary for the selling price. Yet to pitch a competitive price on the market, it takes more than that. The demand forecast advocates opting for the lowest selling price which yields the highest return. A market penetration strategy necessitates thorough knowledge of the selling prices of the nearest competitors and their retaliation potential. Ideally, the lowest price in the market of £10,400 dictates the upper ceiling of AUDI’s price discretion. However, setting initially a too low price in the hope for increasing it subsequently is not a viable option, as prices are somewhat inflexible upward. Instead, costs have to sink in the long run. Nevertheless, claiming a larger market share will allow AUDI to deftly climb the steep learning curve, lower its costs and further mobilize against market followers. A high price elasticity of demand insinuates that profit margins will continue to soar, if selling prices are reduced any further. As the point of maximum profit is apparently not yet reached, the company is advised to extend the range of the forecast. But is the highest profit naturally the best profit?
From the ancient Egyptians who used copper and lead to create the world’s first cosmetics to the merchandise that was scientifically progressed over time that can do anything and everything from hiding large pores, smoothing your face’s complexions, and turning the dull green of your eyes into a lively shade of emerald. Makeup has been an essential part of humanity for over thousands of years. Cosmetologists, chemists, fashion designers, religious leaders and governments has had an unbelievable impact over the world of cosmetics with about ten thousand years of experience. Because it is in human nature to find new ways of expressing ourselves in an artistic way and to always aim for perfection. Cosmetics has played a really big part part in our advancements from ancient civilization to the modern way of living our lives.