29 Jun To gain a sense of the range of marketing activitie
Question
First assignment is attached. The product selected was a skin whitening cream.
For this assessment, you will analyze the integration of marketing communications in your selected company, with a particular focus on the manner in which the marketing mix is applied for the product you selected. In Assessment 3, you addressed the aspect of product strategy. For this assessment, focus on the other three aspects—place, price, and promotion—to analyze how the company uses each, and in particular, how each is used to market your selected product. Evaluate how well the company is integrating all aspects of the marketing mix. Finally, identify and explain how an aspect of the company’s marketing mix falls short in relation to the product you selected.
Preparation
To gain a sense of the range of marketing activities utilized by your selected company, find and study all aspects of the company’s marketing mix. Pay particular attention to the media, tools, and approaches used to market your selected product. Analyze the characteristics of these activities so that you have a clear sense of how the company, and your product in particular, are presented to the market and how potential buyers are likely to see the product. Begin writing your analysis when you have a solid sense of both of these, along with a variety of examples to support your thinking.
Directions
For this assessment, complete the following:
Analyze each of the following aspects of the marketing mix, both for the company in general and for your selected product, in detail:
Pricing strategy (price).Analyze the company’s overall pricing strategy in relation to competitors. Then focus on the pricing strategy used for the product you selected. For example, is the product positioned at the high end of the market, as a midrange product, or as the low cost alternative?
Channels of distribution (place). Summarize the manner in which your selected company moves its products to market. Then focus on how these channels of distribution function for your selected product in particular. Besides noting the logistics involved, analyze how well the channel fits the image of the product. For example, if your product is a technological tool, describe how it is moved from production to customer availability, including the effectiveness of the outlets or interactions that have direct contact with customers. Consider the effectiveness of the company’s distribution overall—are they missing any productive channels? Could they gain better penetration in their existing channels?
Market messaging (promotion). Analyze the company’s messages to the marketplace through all of the channels the company uses. Include advertising, sales promotion, and public relations, as well as the manner in which the company uses any aspects of social media to support these efforts. Analyze the extent to which the company integrates print, media, and Internet efforts.
Analyze how the company integrates its marketing communications efforts across the marketing mix:
For the company in general.
For the product you selected.
Identify an aspect of the marketing mix that you see as a current weakness in terms of the product you selected. Explain your thinking, including specific examples from the company’s current marketing activities.
Additional Requirements
Written communication: Written communication should be free of errors that detract from the overall message.
APA formatting:Your analysis should be formatted according to current APA style and formatting.
Length: 3–5 typed and double-spaced pages.
Font and font size: Times New Roman, 12 point.
Research: Use a minimum of four credible sources.
Running head: COMPANY AND PRODUCT ANALYSIS Company and Product Analysis 1 COMPANY AND PRODUCT ANALYSIS 2 Company Overview: L ‘Oreal S.A
L ‘Oreal S.A is a French cosmetics corporation that is headquartered in Clichy with a registered main office in Paris. It is one of the largest cosmetics corporation in the world with various
activities and products in skin care, sun protection, make-up, hair care and hair color among others.
The company has extensive research in dermatology and biopharmaceutical research among others.
The business model of L ‘Oreal is to expand its brand into the global markets through comprehensive marketing and continued research and development. For example, the company has been
able to expand its brands into mass, luxury, and cosmetics markets across the world. However, continued research and innovation remains one of the most important competitive edge of the company
compared to other companies in the same industry.
The company serves international markets with its recognizable brands. The prodcuts offered includes the professional, luxury, and cosmetic products. The professional products include
L’Oréal technique, Matrix Essentials, Paloma Picasso, and Yue Sai among others (Lee et al., 2014).
Consumer products offered includes Ombrelle, Garnier, Essie and Magic among others. The active
cosmetics includes Vichy, Dermablend among others. Product Analysis
Whitening Product
The whitening product is one of the products offered by L ‘Oreal. The whitening product offered by the company have the potential to be marketed such that it improves its own standing in the
marketplace. The product is produced by the company to help consumers maintain their skin COMPANY AND PRODUCT ANALYSIS
3
integrity. The skin whitening products are used by most consumers to enhance their beauty.
The emerging market targeted by this product is the consumers who feel the need to look a certain
way about them. The consumers can therefore find in the product offered by the company the solutions to their beauty needs. SWOT Analysis
Strengths and Weaknesses
In the SWOT analysis carried out for the company, it was possible to identify the different
strengths, weaknesses, opportunities and threats made by the product. The first strengths identified
in the skin whitening product is its low operational costs in the company. The production is in itself
inexpensive to the company while having significant revenue returns (Lee, Choy, & Chan, 2014).
The product also has very strong distributional networks both in the rural and urban areas that can
be exploited for profit. The product, however, has a lower chance of investing in any kind of technology and it does no achieve significant economies of scale in small sectors. The weakness of the
company is the low export levels. The low export levels are a major weakness the company faces in
the production of the skin whitening product.
Opportunities and Threats
Based on the analysis, the identified several opportunities that the company can adopt to
market their product. The skin whitening product has the opportunity to tap into rural markets that
it has not yet reached. The markets include the African markets as the product is mostly concentrated in Asia and the US where a great demand is present. Proper marketing is the key to unlocking the sub-Saharan Africa market. The high spending of consumers mean that there
is a widened market on premium goods and their prices. The product can therefore be produced as
high end and target this demographic. COMPANY AND PRODUCT ANALYSIS
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Threats to the skin whitening product include the apparent slowdown in the demand for the
product in rural setups. The reduction is narrowing down the companies’ market reach and affects its
returns and revenue (van Bijnen et al., 2014). The government’s move to remove import restrictions
has caused the brand to face stiff competition from similar foreign products.
Internal Forces
Internally, the company resources and capabilities play a big role in the support of the skin
whitening product. The company’s ability to use its resources in a way that minimizes costs has
been the biggest force that has helped the product maintains its low operational costs. The strategy
has increased the profit margins while reducing the production expenses (Ramli, 2015). The capability of the company to invest in distributional elements for the product has also been an advantage as
it has enabled the company compete both in rural and urban markets.
External Forces
Political issues that are likely to affect the skin whitening product can be explained by the
degree of influence the government has in the nation’s economy. Particularly, this will include the
political stabilities, the regulations on prices, taxation rates and the legal frameworks needed for
contract enforcement. The regulations are especially important as they will determine if the company will stay active in the skin care market. Economically, the issues affect consumer’s purchasing power. When the purchasing power decreases, the company is affected negatively as
the profits suffer a significant drop. The economic growth rates of the market, interest and unemployment rates affect the product economically as well.
Socio-cultural issues include the personal factors that reflect how consumers get perceived
by others and the effects on their own self-perception. From my analysis, it is clear that the company COMPANY AND PRODUCT ANALYSIS
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can increase the sale of the skin whitening product by personalizing the product. The marketing
strategy should speak to the consumers own perception of self which in turn will create a dependency (Lee et al., 2014). Technological issues with the product include the kind of technology used
to market the product. The use of ad campaigns on platforms such as websites and social media has
increased awareness of the product to the consumer.
Kim and e Mauborgne (2014) studies on both internal and external forces affecting the skin
whitening market reveals that both men and women are conscious of their looks. The studies show
that about 72% of men and women care about their looks. The potential of growth of the skin care
industry is a factor that draws government attention and affects the taxation rates. Ramli (2015) further shows that consumer’s purchasing power is mainly determined by several factors. According to
his studies, 27.2% focus on the brand while 69% focus on the product quality.
Recommendation
Based on the SWOT analysis and strategic overview, it is recommendable for the company
will have to change their marketing strategies on the skin whitening product and target a wider market. The company should come up with marketing and expansion plans to promote the product in
emerging markets including India and Sub-Saharan Africa. The strategy will create a great demand
in the female and male demographics and boost the revenues of the company. COMPANY AND PRODUCT ANALYSIS 6
References Kim, W. C., & e Mauborgne, R. (2014). Blue ocean strategy, expanded edition: How to create uncontested market space and make the competition irrelevant. Boston, MA: Harvard business
review Press.
Lee, C. K. H., Choy, K. L., & Chan, Y. N. (2014). A knowledge-based ingredient formulation system for chemical product development in the personal care industry. Computers & Chemical
Engineering, 65, 40-53.
Ramli, N. S. (2015). Immigrant entrepreneurs on the world’s successful global brands in the cosmetic industry. Procedia-Social and Behavioral Sciences, 195, 113-122.
van Bijnen, E. M., Paget, J., den Heijer, C. D., Stobberingh, E. E., Bruggeman, C. A., & Schellevis,
F. G. (2014). Evidence-based primary care treatment guidelines for skin infections in Europe: a comparative analysis. The European Journal of General Practice, 20(4), 294-300.
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