The Lakme Company is an Indian cosmetic company founded in 1961. It has over 100 products including skin care, hair care and make-up products. Lakme is one of India’s leading beauty brands, with a strong presence in the market. The company sells its products through retail outlets and e-commerce channels such as Amazon. The main objective of this report is to analyze the marketing strategy used by lakme for its product line earrings (earring)
Lakme is a successful brand of Indian cosmetics
If you have been a student of marketing, then you will have come across the brand name Lakme. It is a successful brand of Indian cosmetics, owned by Hindustan Unilever Limited (HUL). The company was founded in the year 1966 by Shri Jamnalal Bajaj.
Lakme is one of India’s biggest brands for cosmetics and beauty products marketed in India and some other countries like Indonesia and Egypt as well. The company has even started selling international brands like L’Oréal Paris under its own label since 2013.
There are both online stores as well as physical stores where people can visit to get their hands on the best quality products at affordable prices.
Brand Positioning
Lakme is a brand of cosmetics that comes from India. The brand has many products such as face wash, face powder, lipstick, lip gloss and nail polish.
The company decided to use this strategy because its products are branded as Indian cosmetics and so it can target the Indian market better than other companies that produce international brands.
Amazon
Amazon is the largest online retailer in the world, and has a huge customer base. Amazon offers a wide range of products, including electronics, apparel, food, and more. This makes it popular with shoppers from all around the world. Amazon is also growing every day with new products being added to its inventory on a regular basis.
Media Planning and Strategy
Media planning is an important part of the marketing mix and is concerned with identifying the right media channels to use, and placing advertisements in those channels at the appropriate time. It also involves analyzing costs, revenues, profitability and risk.
Media planners research advertising opportunities within a particular medium and decide which one(s) to use for their campaign. Media planners work together with other members of a company’s marketing team such as brand managers or sales people. They may also work closely with media buyers who buy advertising space on behalf of clients.
Brand Identity and Personality
Lakme is one of the top beauty brands in India. It is a part of the L’Oreal group, which is a global cosmetics giant with a revenue at $30 billion. The brand identity and personality are important for any organization, especially when it comes to marketing. Branding helps create an emotional connect with consumers and strengthens their loyalty to your product or service.
Lakme’s branding strategy revolves around its core philosophy “Change & Inspire”. It promotes itself as an ideal choice for Indian women who want to look beautiful without compromising on health, style and affordability. This can be attributed to many factors like:
- Product Line – Lakme has a wide range of products targeted towards different age groups including teenagers and working women alike
- Brand Positioning – The company promotes itself as an affordable yet high-quality brand that caters women across all social classes and age groups
- Media Planning/Strategy – The top executives at Lakme spend significant time planning their media campaigns so that they can target specific audiences effectively.
Advertising and Sales Promotion
The advertising and sales promotion are the key components of marketing mix. Both advertising and sales promotion help in building brand awareness, brand equity and market share. Advertising helps in communicating the company’s message to the target audience that aids in increasing customer loyalty, repeat purchase behaviour or repurchase intention. Advertising also helps in building credibility for a product or service. Sales promotion is a tool used by companies to encourage consumers to purchase their products or services by providing them with discounts, coupons etc.
Sales Promotion: Sales promotions include all those activities which are aimed at encouraging consumers to purchase products/services at one time rather than waiting until they need it later on down the road (i.e., when they’re closer to needing it).
Advertising: Advertising includes any paid form of non-personal presentation and recommendation of ideas, goods or services by an identified sponsor.
Pricing Strategy in Industry
Price is a very important factor in the business world. The pricing strategy is one of the most important strategies in marketing management. It is necessary to have a good understanding of how this strategy works and what it can do for your business. Pricing can be used to differentiate the product from competitors, target different market segments or increase customer loyalty.
Conclusion
We can say that Lakme has established its position as a successful brand of Indian cosmetics. The company is using its strengths to keep growing and expanding its reach. The company has taken advantage of digital marketing channels like Amazon which gives them an opportunity to connect with their customers directly. Lakme also focuses on creating new products by launching new brands every few months which helps them stay in touch with the changing market trends in India.
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