the reélection. It was retweeted almost 1 million times. Marketing >> L\'Oréal -
ID: 358766 • Letter: T
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the reélection. It was retweeted almost 1 million times. Marketing >> L'Oréal - Ueek S Excellence Much of the company's earty international expansion is credited to Sir Lindsay Owen-Jones, who transformed L'Oréal from a small French business into an international cosmetics phenomenon with strategic vision and precise When it comes to globalizing beauty, no one does it brand management. During his almost 20 years as CEO better than L'Oréal. The company was founded in Paris and chairman, Owen-Jones divested weak brands, in- more than 100 years ago by a young chemist, Eugene vested heavily in product innovation, acquired ethnically Schueller, who sold his patented hair dyes to local diverse brands, and expanded into markets no one had hairdressers and salons. By the 1930s, Schueller had dreamed of, including China, South America, and the former nvented beauty products like suntan oil and the first Soviet Union. His quest was to achieve diversity and "meet mass-marketed shampoo. Today, the company has the needs of men and women around the globe, and make evolved into the world's largest beauty and cosmetics beauty products available to as many people as possible. company, with distribution in 130 countries, 27 global Today, L'Oréal focuses on five areas of beauty ex pertise: skin care, hair care, makoup, hair coloring, brands, and more than $30.8 billion in sales.Explanation / Answer
Note that L'Oreal's basic marketing strategy relies on three distinct aspects - diversifying by collaboration with local beauty companies, innovating new products, and investing heavily in advertisement campaigns. Therefore, the marketing metrics should also be aligned with these three marketing objectives.
When we consider the collaboration with local companies, it is about how much the L'Oreal brand can be expanded to other products. From that point of view, Brand Awareness can be a good marketing metric. The company should monitor the percentage of customers who are aware of the brand L'Oreal and more importantly, the breadth of the brand imbibing the local company products.
For new products, the appropriate marketing metric is Revenue/ Share of Revenue from the New Products innovated by the company. Alternatively, margins from the new innovation can also be monitored.
For the advertisement campaigns, the most appropriate campaign should be the Return on marketing investment (ROMI) which is the contribution to profit attributable to a marketing campaign (net of marketing spending), divided by the investment made for that particular campaign. This should be monitored separately for each category of the campaign.
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