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Marketing Mix Of Fictional Product Essay

416 words - 2 pages

Marketing Mix
Product
Lancôme, founded in France in 1935, and bought by L’Oreal (also a French company) in 1964, is L’Oreal’s high end division of cosmetics, fragrances, and makeups. (“Lancôme”) Research has shown that Lancôme is missing out or underutilizing on a major segment of the market, about half: men. The case study illustrates the growing men’s grooming market in the US: currently $14 billion, and expected to reach $21 billion by 2015. In order to address this, Lancôme needs a product that will reestablish themselves in the men’s grooming market since they have primarily been viewed exclusively as a perfume, ...view middle of the document...

We feel the latter has huge opportunity, as almost every man fears going bald at some point in his life. The main competition in this market is Rogaine, a topical hair re-growth product, first made available by prescriptions in the late eighties. (“History of Rogaine”) Rogaine has evolved over the years and, since 2006, has been made available over the counter. The man advantage that Rogaine has over Lancôme right now is that they are viewed as for-men product and Lancôme is viewed as a for-women product. The advantage that Lancôme has over Rogaine is that we are offering a preemptive approach to balding, whereas Rogaine approaches baldness after-the-fact.
Because of being viewed as a women’s product, the Lancôme logo will be noticeably smaller on this Shampoo than on other Lancôme products. The packaging will be fairly plain and to-the-point: gray/silver bottle with dark blue, bold writing. There’s no fancy name either, which we feel may detract the average male. It will not provide the same deodorant effects as shampoo, meaning that the consumer cannot substitute his normal day-to-day shampoo with it. It will be available in a 13 fl oz. package, although we will introduce the product with a 3 fl oz. travel/trial size with the option to continue producing them permanently.

Works Cites
http://www.loreal.com/brands/loreal-luxe/lancome.aspx
http://www.rogaine.com/category/facts/our+history.do?nType=1

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