Marketing Report Research Paper Example | Topics and Well Written Essays - 2750 words

Marketing Report - Research Paper ExampleIf the products are not presented because to their needs there might be a shift towards other smears and products. Another important issue concerning the cosmetic industry is of misleading advertisements, LOreal twain of its advertisement were banned as they were against the code of conduct and leads to purchase decision criteria of consumers. The solutions to these issues were through identifying the needs of the consumers and producing products, generating awareness through promotional tools and alternatively changing the marketing mix according to the needs and commands of the consumers. By conducting a research the consumers behaviour could be monitored their liking towards a brand, the reason for their preference and what different features they want in their brand. This would help the marketer to know about the taste and preference of the consumers and can work accordingly. One of the drawbacks that lead LOreal lose its market addr ess was the misleading advertisement, thus to avoid such loses LOreal could endorse someone who actually is blessed with good skin and hair. Thus there would not win a need to use artificial extensions and lastly in order to stay ahead the high society needs to keep on innovating new products. Henceforth, LOreal can launch new product that would take care of the hands and feet of the consumer. Contents Contents 3 Introduction 4 Issue and problem 4 Analysis and Application 8 Psychological factors 8 Consumer Decision Making 10 Marketing mix 12 Recommendation 13 Reference 15 Introduction For more than centuries, LOreal has invented beauty and has met with the aspirations of millions of women and men. LOreal aims in offering the best quality of cosmetic along with safety and efficacy to everyone who wants to access to beauty (LOreal, 2011). LOreal is the largest cosmetic company, it had transformed from being a French company into a global renowned business in sectors like skin, cosm etics and hair care. The company was founded in the year 1953 as Cosmair, Inc. In spite of its origin from France, the company is French only when the need arises else its satisfied being Asian, African or anything that accounts to sales (Noel, 2008, p.48). The company is committed in carrying out the mission who is to make beauty universal in a way that would be sustainable and responsible. It is bedded among the top 100 ethical and sustainable companies globally (LOreal, 2011). The company has about 23 global brands in around 130 companies with 66, 600 employees. The brands annual sales wrestle up to be more than 50 million Euros. Some of the consumer products of LOreal are LOreal Paris, Garnier, Maybelline New York, soft sheen Carson to name a few. The brand has its presence felt globally and has been well accepted by the people. Issue and problem Consumer behaviour reflects the decision made by the consumer with the consumption, disposition and acquisition of goods, serve and ideas (Hoyer, Macinnis & Dasgupta, 2008, p.4). In todays context consumer behaviour has become extremely important for marketing decisions in deciding upon the marketing mix elements, segmentation or in exploring new ideas with the change in the environment. The luxury and leisure market such as for shampoos and creams have boomed in recent times. With a change in psychographic and lifestyle of the people, there has been a shift in the habits of the consumers.