In order to remain competitive and retain their market share, businesses must adjust to evolving consumer preferences and fashion trends. Redken is achieving this through the implementation of successful marketing and promotional tactics. With the existence of other competitors, marketers need to emphasize product differentiation as a crucial factor.
The text inside the should beand unified, while keeping the tags and their contents intact.
Firstly, it is crucial to carefully evaluate the company's position in the market compared to competitors, as well as its standing among beauty and hair care professionals. This analysis is necessary to understand why these factors hold significance.
As the global cost of doing business continues to rise without any indication of decline, it is essential to establish a marketing strategy that effectively communicates the value proposition of the company's product. Moreover, this
...strategy must guarantee sufficient profitability to cover expenses.
Redken has dedicated resources to conduct extensive research, allowing them to establish a distinct target audience. This approach ensures that their marketing and promotional endeavors are specifically tailored to a receptive and intended market.
The process of customer loyalty and brand appeal involves utilizing the right budgeting procedures and applying an attitude that nurtures them.
As a result of the ever-changing market, consumers need to be convinced why they should choose the Redken brand over others. In order to maintain consumer loyalty, product innovation takes precedence, as thorough research will provide what the consumer desires.
Situation analysis
L'Oreal Australia Pty Limited, which is a branch of the French company based in Paris, specializes in the production and
development of various beauty products including hair care, hair color, skincare, cosmetics, and fragrances. L'Oreal offers a wide range of products that cater to both consumer and professional needs.
L'Oreal Australia solely imports products from its parent company as it does not have any manufacturing facilities in the country. The company operates in three out of the four global product divisions, which include consumer retailing, luxury and professional salons, and hair care specialists.
L'Oreal conducts its operations in Sandringham, Victoria and employs approximately 900 individuals who oversee all of their Australian activities. The main focus of this report is business to business research, specifically regarding transactions with professional salons and hair care specialists. It excludes any analysis on the consumer market. The analysis provided in this report primarily revolves around a single brand, Redken.
Willoughby, M. (2007) discusses the company background in his book "Managing marketing performance" from the University of Central England Business School.
In 1934, L'Oreal Australia was officially incorporated in Victoria.
In the mid-1980s, L'Oreal Australia introduced Hilton Bell's hairdresser color consultation coding system called 'True Colors' to the profession after acquiring its rights.
In 2003, we obtained the distribution rights for the Matrix brand of hair care products.
In 2007, L'Oreal, along with other cosmetic manufacturers, was directed by the Australian Therapeutic Goods Administration to cease advertising claims about their products' ability to remove wrinkles.
Mission and Vision statements
The company aims to provide artistic inspiration and profitable partnerships to the professional salon community worldwide through a scientific approach to superior products.
We aim to assist and empower salon professionals
in improving their skills, increasing their financial success, and enhancing their overall quality of life.
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