L'Orals Marketing Mix Assignment Example | Topics and Well Written Essays - 3250 words

LOrals Marketing Mix - Assignment ExampleThe firms internationalization process followed an Uppsala model rather than Product Life Cycle or Born world-wide approaches. LOreal enjoys positive Country of Origin Effect and clearly seeks to maximize on global consumer perceptions that French climb care intersections are of high quality. Part 1 LOreals Marketing Mix- Standardisation/Adaptation to worldwide Markets The approach for the analysis of LOreals trade mix will follow the pattern of product, price, place, and promotion. In terms of LOreals products, it is noted that most of them go by an English name across the international market, for instance, Maybelline, Softsheen Carson, Matrix, Ralph Lauren, Stella McCartney and Roger and G anyet. The exceptions of English-named products all use French names such as Lanc?me, LOreal Professionnel and Kerastase (LOreal.com 2011). This is indicative of a standardization approach, which for multinational marketing such as the one undertakin g by LOreal follows a globalization, adopting the most widely used lyric for their products. Through taking advantage of the wide use of English, the firm is able to reach wide markets without having to admit through use of local languages for branding. Another aspect of LOreal that is indicative of standardization is its maintenance of the same promotional material and design as much as possible, only changing it due to the nature of the product (for manikin fluidity). In terms of product usage, it is clear that the company aims to establish a range of products that can mate everyone for instance, through using the same product portfolio for the entire European zone. There are however elements of adaptation in LOreal product considerations as evidenced by the companys operations in the Asian markets. A manifestation of this is conducting surveys and tests to learn about the differences in the nature of Chinese skin in guild to develop products best suited for this market. Be sides using research laboratories, the company has also previously fit a research by Wang, Fang, and Zhu (2008, 57-66) to investigate Chinese skin. Similar efforts have also been made by the firm in the USA (Benard et al. 2005, pp. 278-287). This standardization/adaptation mix strategy is also evident in India, where LOreal launched the global brand Garnier (standardization) but then tailored it in formulation and packaging (adaptation) to fit the Indian market as was well reported by Warc News (2010, p. 2). Analysis of the companys determine strategy in foreign markets reveals an adaptation approach. On a closely related consideration to the product lines, it is noted that LOreal first undertakes research on the target market including the specific section to target forwards developing the product. Hence, there is a presentation of a heterogeneous range of products from luxurious ones to what can be considered as addressing cosmetics needs with both categories following differen t pricing. The type of product sold in a particular region is ground on the pricing strategy that is deemed most suitable. For instance, Garnier was introduced in India with the aim of attracting the customers based on the low price $ 5.60, while the same brand goes for $ 6.47-$8.38 in the USA (Wall Street daybook 2007).