Running Header: L'Oreal

L'Oreal

[Name of the Institute]

L'Oreal

Introduction

Bordan (1964) defined the marketing mix as a combination of the product, price, promotion and place. These elements are referred are “the 4Ps” (Franklin et al, 2009). Variables of the marketing mix help to adjust target markets or segments, to provide maximum customer satisfaction and create competitive advantage. The product is a customer solution, price is the customer cost, place is the customer convenience, and promotion is the communication to the customer about the product i.e. L'Oreal Age perfect cream. Report will firstly analyze about the product and then analyze about the case study, including 4Ps of L'Oreal Age perfect cream to gain competitive advantage.

Background Information

'Age Perfect Cream'

L'Oreal can be identified as one of the most influential and globally renowned cosmetics and beauty oriented products manufacturer. L'Oreal has introduced several innovative products in the global market including Age Perfect Cell Renewal Cream. The cream is marketed as the most effective and scientifically advanced beauty products available in the market, and the brand ambassador for the product is Julianne Moore. The current marketing mix strategy of the cream is dependent on the high quality and strategic marketing policy, in which the company has decided to develop a high quality brand image (Hastings, 2012, pp. 225). The market segment which is essentially targeted by the company is the SEC (Socio Economic Class) A and SEC (Socio Economic Class) B, women belonging to the 30+ age segment.

Discussion

Marketing Mix

Product

The L'Oreal Age Perfect Cream is primarily marketed as a high quality luxury product for the 30+ female populations. The packaging and the marketing strategy of the product has to be aligned to this strategy, so that customers can relate the attributes of premium quality and luxury with the product (Lifu, 2012, pp. 188). In this perspective, the product is packaged in an attractive golden outer packaging, which relates to the market segmentation strategy of the company. The scientific research is an essential component of the marketing strategy of the product as it helps to position the brand as the most effective cosmetic products available in the market. The innovative chemical in the product is defined as the Golden serum, which helps the skin become more radiant and visibly decreases the wrinkle lines that develop among the 30+ women population. This serum is produced after more than 20 years of research in skin cell biology by the company, developing a product, which has minimal negative side effects.

The L'Oreal Age Perfect Cream can be defined as an ideal product for the target market of the 30+ female segments as wrinkles and ageing is one of the primary concerns of the majority of the beauty conscious females. However, the company can seek to rely on its brand image and value, effectively market the product rather than the scientific research (Thakur, 2012, pp. 380). Currently the chemical dynamic of the gold serum is an essential component of the current marketing strategy. This strategy is not aligned with the overall luxury oriented brand image ...