This essay is a marketing mix example and it takes the 4P’s of marketing mix into consideration and makes explanations based on the example of L’oreal.
Aim of Marketing Mix Example
The main aim of any company is to increase the profits that the company make. “The marketing mix is an integral tool in building an effective marketing strategy and implementing it with tactics. Also known as the 4 P’s of marketing, the mix includes an assessment of the roles your product, place or distribution, price and promotion play in your overall approach to marketing” (Azcentral, 2014). Profits can be increased only if the company has a well structured marketing mix. The marketing mix has 4 elements which are referred to ‘4 P’s of marketing’ and namely as product, price, promotion and place. This part of the study analyzes the marketing mix of L’oreal Turkey in terms of the 4 different elements and the subheadings of these elements.
Product of Marketing Mix
L’oreal Turkey’s operations in terms of the ‘product’ element of the marketing mix consists of different sub elements. The first one is advertising. Before giving information about the advertisement operations of L’oreal Turkey, we can easily say that they are operating well in advertisement area. L’oreal Turkey is the mostly advertised company in Turkey and it was advertised the most in magazines in the first quarter of 2015. L’oreal chooses to advertise in the magazines that are related to women as they are producing products that aim to reach women.
So, in terms of advertising L’oreal has been doing a respectable job in Turkey. In addition to advertisements, L’oreal chooses to have free gift giveaways for their customers. Free gifts is a subelement of the ‘product’ part of the marketing mix and L’oreal uses it on a regular basis. For instance, lately, L’oreal paris gave Revitalift, which is a cream for reducing crepey, and they wanted nothing but to fill a form from their customers by saying ‘fill the form in order to get the product for free’ (L’oreal Paris, 2015) on their website.
You can see here a product proposal example and make your own one.
Promotions of Marketing Mix
When we analyze L’oreal in terms of the ‘promotions’ element of the marketing mix, we usually see the use of new-age technology for promotions. As Erdinç Altuntaş tells in his presentation, “L’oreal uses digital promotions and customer based promotions” (Altuntaş, 2014), we see that L’oreal uses the digital opportunities in order to reach their customers. When we analyze this use of L’oreals digital opportunities, we can say that L’oreal Turkey keeps pace with the requirements of time of digital age.
Price of Marketing Mix
For the price element of the marketing mix, it is seen that L’oreal Turkey uses both retailing and direct sales in Turkey. Lately, L’oreal Turkey started improving their retailing and direct sales by working with EnRoute Panorama, which is owned by Univera. “Just like in the other 130 countries that L’oreal operates in, L’oreal has a wide sales network in Turkey and they needed a solution for their retail sales and also their direct sales operations” ( Univera, 2012). This statement from the website of Univera shows that L’oreal has been improving in terms of the price element of the marketing mix.
Place of Marketing Mix
The last element of the marketing mix is ‘product’. “Product is the most basic building block. When you think of your business’ product, the goal is to visualize what consumers need or want. This can be tangible, something you physically sell, or it can be intangible, such as a service. No matter if the product is physical or intangible, it will have a lifecycle” (Chron, 2014). This is one of the most important elements of the marketing mix even marketing mix works best as a well structured combination of all the four elements. First of all, L’oreal offers their customers “a variety of different products” (Altuntaş, 2014).
By doing this, they want to be with their customers in every area of cosmetics and so their audience can become familiar with the brand. Secondly, the company produces high-quality products in order to have a good customer satisfaction. We see the quality dimension of the product element of the marketing mix in the mission statement of L’oreal Turkey. “We have chosen to offer our expertise in the service of women and men worldwide, meeting the infinite diversity of their beauty desires. We are committed to fulfilling this mission ethically and responsibly” (L’oreal, 2016).
Altuntaş, E., 2014. L’oreal Turkey.
Anon., 2012. Univera.
Available at: http://www.univera.com.tr/Basari/loreal-mobil-satis-ve-dagitim-sistemini-enroute-panorama-ile-yonetiyor/75
Anon., 2015. L’oreal
Available at: http://revitaliftlazer.lorealparis.com.tr/kirisikliklara-meydan-oku
Anon., 2016. L’oreal.
Available at: http://www.loreal.com/group/who-we-are
[Reached: February 2016].
Jeremy Bredley, 2014. Chron. [Online]
Available at: http://smallbusiness.chron.com/study-importance-marketing-mix-71890.html
Neil Kokemuller, 2014. Azcentral. [Online]
Available at: http://yourbusiness.azcentral.com/importance-marketing-mix-development-marketing-strategy-tactics-10502.html