Published by MBA Skool Team, Last Updated: December 27, 2016
Marketing Strategy of Lancôme analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Lancôme marketing mix, help the brand succeed.
Lancôme marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Lancôme Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Lancôme Product Strategy:
The product strategy and mix in Lancôme marketing strategy can be explained as follows:
Lancôme makes exclusive products for the niche customer base. They are like the blue eyed boys of the perfume industry and they have a wide range of products which carter to the needs of the higher ends of the society. The products in their marketing mix are a premium range of perfumes, skincare products, makeup products etc. Lancôme have fragrances which are made with the association with reputed companies. They also have other various lines like skincare products and makeup products which are well known among the users. The skin care products from Lancôme are cleanser and toners, moisturisers, masks, serum & treatments, eye care and lips and sun care and body. There are various products under these sets and they each crater to a specific kind of user. Under makeup they have eyes, face, lips and nails. Again these are subdivided into a lot of products and each of them are useful for the specific kind of users they target.
Lancôme Price/Pricing Strategy:
Below is the pricing strategy in Lancôme marketing strategy:
Lancôme products are very niche and they are targeted to the users who are at the higher end of the society.
They are priced very high so that their products are only available to the targeted customers only. Even though they are priced very high, but also they are ranged so that the customers are able to pick the products according to the purse size. The pricing stategy in the marketing mix of Lancome is for premium customers and also similar to competition. They are catering to the high society people. But then also there is a segmentation based on the price of the products for Lancôme. If we see the pricing of each and every Lancôme product we can see that the price varies drastically. There are certain types of products which are priced high and there are few which are priced low
Lancôme Place & Distribution Strategy:
Following is the distribution strategy in the Lancôme marketing mix:
The Lancôme Company is trying to make its presence felt in almost all the areas. The places where it has got its outlets are all in the niche area of the world. Being a company who targets the higher ends of the society, we find that the Lancôme company has strategically placed its outlets in the areas where the percentage of their customers are residing.
Almost all Lancôme products are available at leading supermarkets, malls and lifestyle stores.
Lancôme Promotion & Advertising Strategy:
The promotional and advertising strategy in the Lancôme marketing strategy is as follows:
Lancôme is a brand name itself and the promotion is mainly through the word of mouth. The Lancôme brand itself speaks for itself. They promote through the various brand ambassadors. They have the top celebrities who are their brand ambassador. They also promote through the various outlets providing the user cards. Lancôme have various areas which provide for the various free trails of the samples which are on display. Hence, the Lancôme marketing mix is covered as mentioned above.
Lancôme is a French luxury perfume company which specializes in skincare, perfume and makeup. This company aims toward the higher end customers and have a niche market share. Lancôme is a part of L’Oreal and exports products internationally.
This company has products which are high priced and they are aimed towards the high earning society members.
The Lancôme company has been founded in 1935 in France, as originally a fragrance house. Lancôme fragrances are made with association of Alain Astori, Annick Menardo, Daniela Roche-Andrier, Christian Biecher, Jacques Cavallier, Calice Becker, Pauline Zanoni, Maurice Roucel, Thierry Wasser, Christine Nage, Armand Petitjean, Gerard Goupy, Olivier Cresp, Harry Fremont, Alberto Morillas, Dominique Ropion, Olivier Polge, Francis Kurkdjian, Robert Gonnon, Nathalie Lorson, Sophia Grojsman, and Alienor Massenet.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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