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

LOrals Marketing Mix - Assignment ExampleThe firms internationalization process followed an Uppsala example rather than Product Life Cycle or Born Global approaches. LOreal enjoys positive Country of Origin Effect and clearly seeks to maximize on worldwide consumer perceptions that French flake off care products are of high quality. Part 1 LOreals Marketing Mix- Standardisation/Adaptation to International Markets The approach for the analysis of LOreals marketing mix will follow the pattern of product, equipment casualty, place, and promotion. In terms of LOreals products, it is noted that most of them go by an English name crossways the international market, for instance, Maybelline, Softsheen Carson, Matrix, Ralph Lauren, Stella McCartney and Roger and Gallet. 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 suc h as the ace undertaking by LOreal follows a globalization, adopting the most widely used language for their products. Through taking advantage of the wide use of English, the firm is able to separate out wide markets without having to adapt through use of local languages for branding. Another aspect of LOreal that is indicative of standardization is its maintenance of the same packaging and design as much as possible, only changing it due to the nature of the product (for example fluidity). In terms of product usage, it is clear that the company aims to establish a double of products that can fit 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 order to develop products best suited for this market. Besides using research laboratories, the company has to a fault previously commissioned 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 hearty reported by Warc News (2010, p. 2). Analysis of the companys pricing strategy in foreign markets reveals an adaptation approach. On a closely relate consideration to the product lines, it is noted that LOreal first undertakes research on the target market including the specific section to target before 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 different pricing. The type of product interchange in a particular region is based 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 Journal 2007).