L’Oreal Marketing Plan Evaluation and Recommendation
MKT/575
L’Oreal Marketing Plan Evaluation and Recommendation
Within any company, a marketing plan is vital to the success of the business. Without having the right type of marketing strategy, a company could offend consumers, look unappealing to consumers, or not get the attention needed from consumers. Each area of the world is different when it comes to marketing a product, and the consumers in each region view the type of marketing differently as well as appeal to different things. Research must go into the different areas, culture, backgrounds, financials, and politics before any marketing should be created.
Vision, Mission, and Goals
According to L’Oreal’s sustainability challenge, it states, “Our vision is to make beauty sustainable and to make sustainability beautiful” (n.d.). In order to achieve this vision, there must be a mission set forth to follow and goals on how this mission will be achieved. According to, Jean-Paul Agon, CEO for L’Oreal, the mission for L’Oreal is “Beauty for all” (n.d.). According to the L’Oreal website, L’Oreal “has set itself the mission of offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy and safety. It pursues this goal by meeting the infinite diversity of beauty needs and desires all over the world” (n.d.). The goals that will help with the mission that L’Oreal is already involved with are innovation, research and development, being aware of markets it is entering, marketing products under its own name and a number of individual and family brand names, and limiting the brand introductions. By following these goals, it will ensure that the company is successful with the brand introductions, marketing to specific areas of the world through awareness, and continuing to have the competitive advantage.
Corporate Strategy
According to Simon Pitman, L’Oreal is focusing on three key strategies that aim...