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Marketing Mix of Fictional Product

In: Business and Management

Submitted By KAAI
Words 324
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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, makeup, and skin care company, mainly targeting female consumers. What is something men experience and (most) women do not? Balding. Lancôme will introduce a “Hair Restoration Shampoo” targeted exclusively towards men. This shampoo is more of a “preemptive strike” shampoo/conditioner than typical balding ointments/creams, such as Rogaine.
The “Hair Restoration Shampoo” is targeted towards men who are showing signs of balding, or fear future baldness in general. 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…...

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