Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Business and Policy Studies
Series Vol. 7 , 13 September 2023
Open
Access | Article
Cosmetic Industry Insights and Marketing Strategy Analysis of L’Oreal in China
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Abstract
With the expansion of China cosmetic market, many cosmetic groups are engaging in expend their market share. However, the development of cosmetics led to diversified consumers’ needs. Some of customers want to get more skincare products for sensitive skin meanwhile the others care about makeup products' characteristics. Various demands have led to the constant updating of the development strategies of the cosmetic groups. Through reading the literature and research reports on Chinese cosmetics in recent years, it is found that the Chinese cosmetics market is oligopolistic and L’Oreal is the biggest one in several big international groups. However, the rise of domestic cosmetic brands makes these big international groups feel threatened. Domestic brands have a better understanding on physiological and psychological needs of Chinese, even Asian consumers, which make them have the strong competitiveness. In the paper, 4Ps model and Porter’s five forces model are used to analyze the current situation of the cosmetics market and the competitiveness of L 'Oreal Group. Finally, some implications are demonstrated from the perspective of culture, brand introduction, optimization of advertising structure, and consumers’ demands to help L’Oreal improve its competitiveness.
Keywords
L’Oreal, cosmetic, 4P, Porter’s Five Forces model
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Business and Policy Studies
- ISBN (Print)
- 978-1-915371-41-6
- ISBN (Online)
- 978-1-915371-42-3
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/7/20230210
- Copyright
- 13 September 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited