Executive Summary of L'Oreal Marketing Competition
EXECUTIVE SUMMARY
BY: HAIRYSTORM
This report provides an analysis and evaluation of a new product range in L'Oreal hairstyle product range together with its most effective marketing strategy in the short and long run.
Our Choice: Hair Wax
According to ASEAN market trends data, it shows that market growth, particularly in hair wax and gel, increases significantly with a good projection value ahead. On average, the highest market growth in ASEAN is in hair styling agent with average of 6% market growth. Further supported by a research done by Mandom in their annual report 2012, ASEAN is an area where awareness of personal style and cosmetics is increasing.
Current Needs and Analysis
Need 1: A hair product that is able to comfort them under the sun
ASEAN countries have tropical and relatively higher humidity as compared to other countries. Based on various website product review, we found that using hair styling product on summer or on sunny day is a huge disaster. Their hair will become greasy and oily. Our assumption also confirmed by the cooling agents formula in the shampoo and conditioner product that is currently selling well in ASEAN countries, such as P&G, Unilever, and AXE. Hence, we believe that this is a major needs to the people in ASEAN countries.
Need 2: To have a non-sticky and easy to rinse off wax
While most consumers prefer wax compared to gel for its easy application and control, there are issues about the trouble to clean the wax from the hair. Our research has shown that excessive use of hair styling product can prevent hair from growing and hence increase consumer’s potential hair loss. This fact also proven by Unilever’s attempt to sell Sunsilk Damaged Repair Conditioner to solve the issue of excessive usage of hair styling product in Philippines. We notice that L’oreal has offered the consumer with an easy to rinse off wax product, yet the information is not emphasized although it is stated on the product information.
BY: HAIRYSTORM
This report provides an analysis and evaluation of a new product range in L'Oreal hairstyle product range together with its most effective marketing strategy in the short and long run.
Our Choice: Hair Wax
According to ASEAN market trends data, it shows that market growth, particularly in hair wax and gel, increases significantly with a good projection value ahead. On average, the highest market growth in ASEAN is in hair styling agent with average of 6% market growth. Further supported by a research done by Mandom in their annual report 2012, ASEAN is an area where awareness of personal style and cosmetics is increasing.
Current Needs and Analysis
Need 1: A hair product that is able to comfort them under the sun
ASEAN countries have tropical and relatively higher humidity as compared to other countries. Based on various website product review, we found that using hair styling product on summer or on sunny day is a huge disaster. Their hair will become greasy and oily. Our assumption also confirmed by the cooling agents formula in the shampoo and conditioner product that is currently selling well in ASEAN countries, such as P&G, Unilever, and AXE. Hence, we believe that this is a major needs to the people in ASEAN countries.
Need 2: To have a non-sticky and easy to rinse off wax
While most consumers prefer wax compared to gel for its easy application and control, there are issues about the trouble to clean the wax from the hair. Our research has shown that excessive use of hair styling product can prevent hair from growing and hence increase consumer’s potential hair loss. This fact also proven by Unilever’s attempt to sell Sunsilk Damaged Repair Conditioner to solve the issue of excessive usage of hair styling product in Philippines. We notice that L’oreal has offered the consumer with an easy to rinse off wax product, yet the information is not emphasized although it is stated on the product information.