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La Roche-Posay in Europe
Over the recent past, consumers of beauty products have evolved to become trendy and dynamic. La Roche-Posay (LRP) is one of the enterprises compelled by the changes in consumer trends to adjust and devise new strategies that can help in market retention and achievement of consumer loyalty. Since the company provides beauty products, which help in skincare and beauty, its focus mainly is on the young individuals in the market of 15 to 25 years. Apparently, these are young individuals characterized by frequent changes in relation to fashion and market demands.
To retain its share of the market and expand its scale of consumers, LRP has to engage in various initiatives. Some of the initiatives include analysis of its market, competition, positioning strategy, consumer demands, and type of innovation to utilize. It is within this context that the essay examines the European market of LRP by analyzing the beauty market, competition, positioning strategy, identifying brand consumers, examining market trends, and the type of innovations evident in the market.
In Europe, competition is cutthroat and every enterprise is working hard to increase its market share. Although LRP is one of the high-end and leading companies that manufacture skin care products, there is a range of companies, which compete and deliver products that can diminish its sales volumes. In the words of Kapferer, Nivea and Eucerin are among the major competitors of LRP (212). These competitors undertake their businesses in Europe, and thus, their competition affects European consumers, who are the main target of LRP. With the increased competition and the behavior of European consumers, quality is the cornerstone of matching consumer demands. Production of high-end skincare products is among the principles that should form the basis of LRP products. The need to focus on quality is because young consumers in Europe are trendy and fashion-oriented.
Fundamentally, companies that emphasize improving the quality of their products receive high volumes of consumers unlike those that do not assess their product quality. As such, LRP should note that its target consumers, who are mostly from 15 to 25 years, are keen on quality and a slight change can affect their behavior towards the product and the company (Kapferer 225). LRP should also understand that several consumers in Europe purchase products basing on the prevailing market trends and love associating with brands that are inclined to quality. The implication of the inclination is the fact that consumers in Europe demand products that are of high quality and budget-friendly. Additionally, these consumers visit companies that supply products, which match their demands. According to Armstrong, Adam, Denize, and Kotler, the ability to match consumer expectations is a factor that companies need to consider when they want to retain their market share (97). Therefore, for LRP to enjoy a good share of the market, it has to focus on quality, consumer demands, and the existing competition in the European skincare and beauty industry.
To develop a good positioning strategy LRP needs to understand the marketing environment. A good understanding of the marketing environment helps the company to align itself in a manner that facilitates easy identification and delivery of products that consumers expect. Smart and well-positioned companies enjoy the loyalty and brand popularity, which is an ingredient that leads to increased market share (Lusch and Vargo 186). The innovations needed by LRP should emphasize areas that are accessible and convenient for target consumers. To increase its spectrum of consumers, the company can introduce a number of services and engage in digital sales.
SWOT Analysis of La Roche-Posay in Europe
Works Cited
Armstrong, Gary, Stewart Adam, Sara Denize, and Philip Kotler. Principles of Debate, and Directions. New York: Routledge, 2014. Print.
Kapferer, Jean-Noël. The New Strategic Brand Management: Advanced Insights and Strategic Thinking. London: Kogan Page, 2012. Print.
Lusch, Robert and Stephen Vargo. The Service-dominant Logic of Marketing: Dialog, Marketing. Sydney: Pearson, 2014. Print.
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