Principles of Marketing
1. The core, tangible and augmented products L’Oreal sells. The core product of the hair care products sold by the company includes the customers feeling good about themself after using the product. The tangible is he physical hair care product e.g. bottle, what the product claims to do for e.g. more shiny hair.
2 L’Oreal’s marketing managers have key branding decisions they must make. These include selecting a brand name and going onto getting a brand strategy. L’Oreal would need to decide on the branding in terms of what name to use and the icon to go with it. Brand strategy includes: Multibrand, range branding, corporate branding, company and individual branding strategy. Multibrand strategy includes bringing out more than one product in one product category. Range branding strategy involves the company deciding to introduce more than one different product to the same category of products however having a different name for products in different areas of the market. Corporate branding involves the company choosing to include just one brand for all the products introduced to the market and company and individual branding strategy includes that the company brand is included on all the products in the market however each product also has its own brand name. L’Oreal would be required to make the decision of what marketing brand strategy to use, For e.g. they may choose to introduce a new hair care product to the market and use a corporate brand strategy where they use the L’Oreal brand all products. L’Oreal also have other branding decisions including the branding position, name selection, brand sponsorship and development. L’Oreal must decide on its brand positioning. This includes the products attributes, benefits and beliefs and attitudes of the product. The attributes include what the hair care products attributes are for e.g. the healthy ingredients in the hair care products. Benefits include what result...
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