case study the body shop
DESCRIPTION
Strategic AnalysisTRANSCRIPT
The Body Shop and the cosmetics industry
Case study 2
Aditya Ishan
09/08/2014
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Introduction The following report presents an analysis of the cosmetic industry as well as a study of The Body Shop. First, an overview of the business will be presented followed by the analysis of the current market. The third chapter is dedicated to the study of Porter’s forces. Then, the segmentation of the market will be detailed followed by a SWOT analysis. Finally, the preconized strategy is presented before concluding this document.
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I Overview of the current situation A) Cosmetic market evolution Historically, the Egyptians were the firsts to use intensively cosmetics, they wanted to get closer from the divinities. Then the Greeks used them for a different purpose: to make women more beautiful. After the 15th century, cosmetics would become a sign of the social position of a person. For instance, during the 17th and the 18th centuries, cosmetics were used by all, men and women, except the poorest social classes.
A start of mutation triggered with the Edwardian society. At that time, cosmetics were used to look younger but the discretion was the key point of this business. The 20th century witnessed the democratization of the cosmetics industry with a growth of the competition and the emergence of the mass market. In 1970, there was a diversification of the products and in the 80’s, the environmental concerns emerged, with a special care for animals.
Nowadays, the cosmetic industry is a booming market, particularly on the perfume market, with a strong competition. The emphasis is made on the natural ingredients and the promotion through celebrities. Moreover, with the growth of the consumer faith in the quality, prices increases and it became possible to transfer products from the mass segment to the premium market.
A new trend in cosmetic history is that men start to use cosmetics. Consequently, the men cosmetic industry grew by 43% between 1998 and 2003. Moreover, most of the men under 24 years old are nowadays prepared to buy expensive cosmetic brands. The particular targets are young men with a care for their social image. On these markets it is possible to use a same products for men or women with a different marketing campaign.
B) The Body Shop history In 1976, Anita Roddick opened The Body Shop in United Kingdom. She had to offer 3.5 million dollars to rename the American “body shop” into “The Body Time”. The Body Shop experienced a phenomenal growth in the 1980’s, around 50% annually. It expanded worldwide rapidly and it is now present in more than 61 countries.
The brand was built around five core values: activate self-esteem, fight against animal testing, support community faire trade, defend human rights and protect the planet. Besides, it has a special marketing strategy. The Body Shop doesn’t pay for advertisement. It avoided also traditional distribution channel and made a priority about having very small packaging time. The Body Shop use new management methods. For example, the staff is trained to be gentle and the hiring process doesn’t focus on skills but on values. Moreover, the employee can bypass the manager and contact directly their director. These methods are also participating to The Body Shop experience.
II Environment analysis A) PESTEL analysis 1) Europe a) Political factors -‐ The lobbying: to attempt of influencing the decisions made by government bodies
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-‐ The forbidden product: like products that are not under prescribed use for human beings
-‐ Governments stability: it affects the prices and rise of taxes on each products.
b) Economic factors -‐ Economic crisis: it affects the purchasing power of the people
-‐ Exchange rate
-‐ Transportation fee
-‐ Taxes: rise in taxes can increase the price of a product and reduce the sales of a product
c) Social factors -‐ Environmental engagement: the population care about environment and maintaining the ecological balance
-‐ Ethnicity
-‐ Mentalities: cosmetics considered as healthy
-‐ Lifestyle
-‐ Traditions
d) Technological factors -‐ Plants studies and product exploration
-‐ Product packaging
-‐ Active ingredients
e) Environmental factors -‐ Animal testing
-‐ Plants used in the product conception
-‐ Toxicity of the chemical solutions
-‐ Environmental policies
-‐ Sustainable development
f) Legal factors -‐ Cosmetic regulations
-‐ Environmental regulations
-‐ Chemical regulations
2) United States of America a) Political factors -‐ The lobbying: to attempt of influencing the decisions made by government bodies
-‐ Ingredients have to labeled on each products
-‐ Governments stability: it affects the prices and rise of taxes on each products
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b) Economic factors -‐ Economic crisis: it affects the purchasing power of the people
-‐ Exchange rate
-‐ Transportation fee
-‐ Taxes: rise in taxes can increase the price of a product and reduce the sales of a product
c) Social factors -‐ Ethnicity
-‐ Mentalities: cosmetics considered as healthy
-‐ Power of the mass marketing
-‐ Lifestyle
-‐ Traditions
d) Technological factors -‐ Plants studies and product exploration
-‐ Product packaging
-‐ Active ingredients
e) Environmental factors -‐ Animal testing
-‐ Plants used in the product conception
-‐ Toxicity of the chemical solutions
f) Legal factors -‐ Brand names issues
-‐ Cosmetic regulations
-‐ Environmental regulations
-‐ Chemical regulations
B) Analysis 1) Political The lobbying is a practice which is affecting the market for both United States of America and Europe. The regulations for is more strict in Europe than in United States of America with a list of forbidden ingredients. In the other hand, in United States of America, it is mandatory to have a label on the product describing the ingredients within. Government stability is also an important factors which affects the flow of the economy in a country. A war in a supplying country can have a huge impact on the business.
2) Economic The changes in the global economy has affected the purchasing power of the customers. The exchange rates and the taxes on the products are an important part of the product price. The same apply to the transportation fees.
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3) Social The product sales are affected by the change of the type of customers, for instance a young male will not buy the same product than an old lady. The market segmentation takes is also impacted by the different ethnicities as well as the traditions. These factors have to been take in consideration to add a unique value to a product, making the customer appropriate the product and thus increasing the confidence of the customer about it. The culture and the ethnicities of America are very different from the European ones. Thus the strategy in the American market is very different from the one used in Europe. For instance, the American customers are more sensitive to marketing sensitive than the European one who are more environmentally engaged.
4) Technological The post-consumer recyclable plastics bottles which are full recyclable is one of the new technologies that impact the product packaging. Moreover, every day the R&D departments of the cosmetic laboratories discover new active ingredients from plants. The new products and materials developed with them permit to renew the consumers choices.
5) Environmental Animal testing is not forbidden yet but should be according to PETA’s act. Likewise, the control over the toxic ingredients is not done everywhere. The recycling becomes a major concern for maintaining the decorum of the environment.
6) Legal Environmental regulations are an important factor of the legal regulations that applied to the product created with natural resources as plants and animals. Chemical regulations are also important to control the use of chemicals in the production. Here the American market is stricter and thus it is difficult to create a product which fulfil all these requirements.
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III Porter’s forces 1) The five forces
Customers
-‐ Low class (=) -‐ Middle class (+) -‐ High class (++)
Suppliers
-‐ Bank (=) -‐ Insurance (=) -‐ State (+) -‐ Products factories (+) -‐ Raw material supplier (+) -‐ Distribution Channel (+)
Substitutes
- Non-organic product (+) -‐ Homemade product (++)
Entrants
-‐ Other continent companies (—) -‐ New ventures (—)
Rivals
-‐ L’Oreal (++) -‐ Neutrogenia (++) -‐ Aveda (+) -‐ Unilever (+) -‐ Avon (+) -‐ Johnson & Johnson (+)
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2) Analysis a) Low threat of new entry The cosmetic industry has a low threat of new entrants due to several factors. The first one is the huge costs of entry. Developing unique cosmetic products requires a lot of resources both in terms of research and development and manufacturing process. Few middle and small scale firms have access to the funds and expertise required to perform this effectively. Another factor which discourages entry into this industry is the huge competition. Companies like Avon, Revlon, Clinique, Estee Lauder, LR, Mac and Unilever have large market shares. Moreover, there are many other small scale competitors who also have a small market share and who reduce the overall profitability of the firms in the industry. This market is a red ocean.
b) High bargaining power of customers The high bargaining power of the customers is due to the importance of the competition and to availability of cosmetic products from a variety of manufacturers. Since these products have many substitutes, then it is possible for consumers to force manufacturers to reduce their product prices. Of course, the bargaining power of the customers depend of his purchasing power and of the segment to which his belong. Indeed, the cosmetic industry is attracting the people of all age groups and social backgrounds. There are many cosmetic products which are made to meet to the needs of different market segments. The buyer concentration can therefore be deemed as low since there are many buyers who cut across different market segments both in the developed countries and the developing countries.
c) High bargaining power of suppliers The suppliers have a high bargaining power due to the high number of market players. If manufacturers sell their products at higher prices or if the countries taxes increase, the cosmetic companies would have to reduce their margins.
d) High threat of substitutes In the cosmetic industry, there are many competitors but also high threat of substitute products. The consumers are able to purchase substitutes. It is therefore essential for the market players in the cosmetic to be innovative if they are to tackle the challenge of the threat of substitute.
e) High competition The competitor concentration may be deemed as high in developed countries. Many large scale cosmetic producers are concentrated in develop countries such as the United States, France and Germany.
f) Exit barriers Barriers to exit include the high development and research costs. Due to the high costs associated with developing cosmetic products, it is difficult for firms to leave the industry without achieving the costs for production. There are also many machines and equipment used in developing cosmetic products and disposing these at a fair market value is difficult hence making it an exit barrier.
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IV SWOT analysis 1) Proctor and Gamble
A) Strengths -‐ Large incomes: total sales of $83.1 billion in sales for the fiscal year 2014 with Olay as the highest selling brand
-‐ Worldwide presence: market leader in China, United States of America and United Kingdom
-‐ Strong reputation: elected the best anti-‐aging creams in a 2006 by a consumer association, outperforming some much more expensive brands
-‐ Large investment in development of alternative testing methods
-‐ Large investment in R&D
-‐ Acquire different companies to increase their catalog
-‐ Powerful marketing policy
B) Weaknesses -‐ Animal testing controversy: they received criticisms from the animal advocacy group PETA
-‐ Expensive products
C) Analysis Proctor and Gamble has a powerful marketing policy and lots of sponsors that permit the company to invest a lot on the R&D to develop new products and indulge new technologies. The company also invested in buying the new small companies and new entrants to offer new products.
The company weakest point is that it received a lot of criticism from the animal advocacy group PETA as it have the policy of testing the products on animals and that it is not environmental friendly. Their packing materials are also not eco-friendly. The company worked on the market prices but failed for the values of the products in much of the market and the value for the customers.
2) The Body Shop
A) Strengths -‐ A charismatic leader
-‐ Brand reputation: The Body Shop received a Peta’s Award, give money to charity organizations
-‐ Ethical business practice
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-‐ Graphical identity: unique colour and design
-‐ Environmental friendly: products made of natural ingredients
-‐ Use 100% post-‐consumer recyclable plastics for bottles
-‐ It does fair trade with small communities
-‐ Global position: located in 61 different countries
-‐ Management technique: the communication with the hierarchy is easy and women are treated equally as men
-‐ Strong customer’s experience: the shops have a unique atmosphere, the idea is to provide customer feeling of sameness in all The Body Shops around the world
-‐ Study of customers’ behaviour and needs
-‐ Testing on voluntary staff
B) Weaknesses -‐ Have many mature products
-‐ No advertising: it is using a word of mouth strategy
-‐ Lacking in introduction of celebrities to attract young crowd
-‐ High transportation costs
-‐ Avoid traditional distribution channel
-‐ Though candidate selection
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-‐ Controversies: criticized for charging 50% more Irish customers than the British ones
C) Analysis The most important strength of The Body Shop is that its products are never tested on animals and the packing of the products are 100% post-consumer recyclable. The Body Shop believe in community empowering. It targets small communities to import the raw materials, which permits to increase their employment rate. The agenda of the company is to take care about its employees, customers and the environment. The brand has a huge network, it possesses shops in 61 countries, and they all provide the same ambience which is a full part of the customer experience. Its involvement into charity as well as its leader, Anita Roddick, made media report of it. Another important steps taken by The Body Shop is the study of the customer’s behaviours and need as well as its unique management techniques.
One of The Body Shop’s weakness is the presence of many mature products in its catalog which means that there is a lack of renewal so a lack of research and development. Due their non-advertisement policy, their products are not known by many people and reaching customers is becoming much more difficult as the new entrants are targeting the market by large marketing campaign. For instance, many companies are using celebrities to promote their products, especially to reach young customers. The high transportation cost also impacting on the company’s product cost. The hiring process is really tough and cost a lot in time to the company.
3) L’Oreal
A) Strengths -‐ Many brands name for different customers
-‐ Local strategy with a global base
-‐ Target developing countries
-‐ Many partners
-‐ Global presence
-‐ A large R&D investment
-‐ Invest a lot in marketing
B) Weaknesses -‐ Management of the whole organization: it is decentralized and the communication is not easy between the different entities
-‐ Controversy about the use of animals to test products
-‐ Big marketing expenses
-‐ Hair care sector not dynamic
-‐ Not proactive in the field of natural and organic products
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C) Analysis The main strength of the L’Oreal is that they have many kind of products for different kind of customers from every segments. They target them through their different brands and adapt their strategy to countries. They are also targeting the developing countries in which they can provide products like China, Japan, India... They have created an online help centre where customers can put their request on a product and they receive help. They also help the customers to know which product is best for them. The company has many partners that help it to stand in the current market in addition of its global presence. Their income are used for large marketing campaigns and investment in R&D to innovate, implement new solutions and develop new products every day.
The biggest weakness of the company is the management which is decentralized and makes hard for the company to manage its resources and communicate within. For some of the countries, like China, products have to be tested on animals, even if the usual policy of the company is to not test products on animals. As a result L’Oreal gets criticism for testing its products on animals. Introduction of lots of celebrities and market the product takes away a lot of profit. Moreover, every products of L’Oreal are not very dynamic like for instance hair lotions. Another important factor is the lack of organic and natural products that most of the customers prefer.
4) Cosmetic Industry
A) Threats -‐ Hardening of the laws on animal testing in Europe
-‐ New ingredients banned by the European legislation
-‐ Unstable supplies of raw materials
-‐ Strong competition in market
-‐ Requirement for suppliers to adhere to ecological standards
-‐ Need of environmental certification
B) Opportunities -‐ Growth of the male market
-‐ Improvement the packing quality to make the product attractive
-‐ Increased awareness of organic and eco-‐friendly product
-‐ Increasing number of online buyers
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-‐ Ageing population: new market segment
C) Analysis The biggest opportunity of the business is the male customers segment which just emerged. An improvement of the packing qualities, to make the product more attractive could bring more customers from all the segments. An expansion of the online market could be a good opportunity. Therefore, cosmetics are very personal and need to be tested before to be bought so the online platform will not bring new customers but it would develop the loyalty of the existing ones. A conscientiousness-raising of customers to the environmental challenges could open the door to new products but also to new entrants.
In the other hand, the promulgation of new laws on animal testing and a growing concerns of the states about environment could affect the product manufacturers. For instance, if some environmental certifications are required to release some products, the market will be totally changed. The unstable supplies of the raw materials due to economic problems as well as the transportation problems could also affect the production.
V Segmentation A) Market segmentation 1) Anatomy of the global beauty market According to the estimation of CAGR over the last two decades the global beauty market has grown of 4.5% per year on average. Products such as cosmetics, toiletries and personal care have risen in demand unrelated to the economic conditions. The global market for cosmetic industry could be segmented into five main area: skincare, hair care, color (make-- up), fragrances and toiletries. The Body Shop could fulfil its customers’ needs and wants based on this segments for cosmetic needs. Market can also be segmented based on premium or mass production. The premium segmentation can be beneficial for developed markets such United States of America, Japan and France.
The mass production segmentation could be a concentrated on geographic aspects where the market share are rather small. Compared to the above larger revenues generators, North America, Latin America, Asia-Pacific and Western Europe are the other regions to focus on for mass production. There have an emergence of new markets to segment such as BRIC (Brazil, Russia, India and China). In 2010, these four countries accounted for 21% of global beauty and personal care markets and is expected to rise to 25% in 2015 (Leonard, 2011).
Looking at the entire worldwide cosmetic industry, sales is estimated to reach about $170 Billion dollars a year which can be uniformly divided around the world; with $40 billion from American market, $60 billion in Europe, $60 billion in Australia & Asia and $10 billion in Africa.
The top 5 of the largest beauty brands 1. Olay – $11.8 billion
2. Avon – $7.9 billion
3. L’Oreal – $7.7 billion
4. Neutrogena – $6.2 billion
5. Nivea – $5.6 billion
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2) Market Segmentation based on product The Cosmetic Industry can be broken into 5 segments, the sales are distributed roughly by the percentages given.
1. Skin care – 34%
2. Hair care – 24%
3. Make-up – 16%
4. Fragrance – 12%
5. Other – 11%
There has been a significant growth in skin care from 31% in 2011 to 34% by 2013 this was mainly due to growth driven from Asian market (Lennard, 2013). Skin care is mainly divided by facial care, hand and body care and sun care. Skin care product are on rise in Asian market as of pal skin considered ideal in Asian market, that leads to strong demand for a skin whiteners. Another factor contributes to the skincare demand is ageing population in developed countries. Also raising awareness of health related risk of exposure to sun is another factor contributing to the demand growth in the skin care sector.
The global hair care market comprising of shampoos, conditioners, styling agents and hair colorants, has shown a moderate growth as it has been affected by the economic slowdown. The makeup market comprises anything from nail polish to lipsticks. With booming trends for fashion makeup market has seen rise in the market share. The fragrance sales are generally benefited from developed countries, especially thriving economies of Western Europe and North America. The Other category represents toiletries, toothpastes, deodorants and other personal care products. Demand such are on rise with the aggressive advertising methods used by manufacturing companies like P&G, L'Oreal, and Unilever.
3) Market segmentation based on the geography
Regions 2011 2013
Asia 31% 32%
Western Europe 24% 22%
Eastern Europe 9% 8%
North America 20% 21%
Latin America 13% 12%
Break down of the cosmetic market worldwide from 2011 to 2013
The geographical analysis of cosmetic analysis suggests significant change in largest beauty market. While the North America and the Eastern Europe doesn't see any gradual change in their market shares, new emerging markets from Asian countries are becoming bigger players. With rise in the market share of Latin America and Asia pacific BRIC (Brazil,
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Russia, India and China) seems to be profitable for The Body Shop where the mass production segmentation would be appropriate.
4) Demographic market segmentation New trends in the cosmetic market makes it implacable for cosmetic industry to focus on both male and female consumers, as has been a pivotal shift in male pampering culture during last decade. Men toiletries used to consist mainly of shampoo, deodorant, shaving cream and not much else. But from London to New York to Sao Paulo bathroom cabinets of are brim with moisturizers, facial cleansers, eye serums, anti- agers and even mud masks all designed for men. Cosmetic companies has a bigger challenge, to shift their gear from only nurturing female consumers to manufacturing male cosmetic products. The importance of both segments can be described as below based on their needs.
Male consumers 1. In 2013, for the first time men spent more cash on male specific toiletries than on shaving cream.
2. In 2012 South Korean men spent $565 million on skin care products.
3. According to Korea Times, Members of K-pop boy bands are rarely on stage without makeup.
4. A study by research firm Mintel says the men's make-up industry will be $3.2 Billion by 2016.
Female Consumers 1. Women spend an average of $144 a year on beauty.
2. By region, the west spends the most on beauty at $154.
3. 57% of women have purchased skincare products at Walmart of Target in the last 6 months.
4. 10% of customers generate 80% of revenue.
5. 45% of women cut back on skincare during the recession.
6. 20% of Americans have a household income of $100K plus, representing 70% of total consumer wealthier.
Emotional Attachment 1. Nearly half of women in the United States of America feel that wearing makeup makes them in control.
2. 82% of women believe wearing make-up makes them feel more self-confidence.
3. 86% of women find that wearing makeup improves their self-image.
4.58% of men says personal care products boosts their self-esteem.
5. 79% men says they feel more attractive when they are well groomed.
5) Market Segmentation Based on Distribution Channels 1. Drugstores (20,000 companies) – $220 billion
2. Spa services (18,000 facilities) – $13 billion
3. Department stores (3,500 stores) – $70 billion
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4. Cosmetic retail (13,000 stores) – $10 billion
B) Targeting Above 40 years people Industry is targeting the ageing section of the society for which the market is very new. In this section of the society there are people who are not using the products as the products are mainly designed for younger people.
Men’s in Korea and India In some Asian countries, like Korea and India, there is a development of metrosexual sector in the society and even men are willing to groom and use the products. The industry should target those countries for the same sector.
Loyal customers The industry should also see about the loyal customers which are using this products for a long time and check regularly about their experiences with the products. More interactions with the customers about the feedback of the products can help the industry to know the same in a better way.
C) Positioning Advertisement Advertisement of the products with details can help the industry to gain the customers from developing as well as developed countries.
Strong stakeholders Industry should see the position of the strong stake holders and then check how the same can be utilized for the benefit for the company.
Innovative product As most of the products are declining and are matured new products has to be launched with better technologies and effect and easy to use for the customers.
Quality and design The quality of the products has to increase as based on demand by the company and the design of the packing has to be improved to attract the customers from all the segments.
Trust of the product The customers should always trust the products and it is the responsibility of the industry to maintain it. So the industry to launch campaigns and advertise about the details of the product and try to improve the originality of the same so that the customers can trust the product.
VI Summarisation of Analysis
PESTEL : lobbying and money fluctuation is affecting the market , need to the follow ecosystem regularization. Technology improved a lot that makes product quality.
PORTER’s: entry of the entrants is less but have high competition among the other well known brands substitute and buyer demand is high
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SWOT: Organic ingredients and against animal testing is strength. Weakness is advertisement and need strong base should launch in BRIC .there is supplier threat is high and opportunity to increase the male product.
Expansion story and history in America TBS marketing strategy: —No advertisement, —Avoid traditional distribution channel, —Small packaging time, —Discuss ingredient instead of claims (ethical) —All natural ingredient, —Recyclable container —Focusing on the shop ambience: The idea is to bring uniqueness to the shop by maintaining same atmosphere of the shop all over the world. —Staff trained to be gentle —Moving the shops strategically —Through candidate selection —Women powers in a way as Woman Manager —Study the customers values, behaviour, body —Testing on voluntary staff —Young employees —Management method: by pass direct manager and contact director —Close hierarchy —Staff evaluate manager —Staff free formation —Investment in foundation —New employee style
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****BIGGER QUESTION****
Why The Body Shop FAILED in United States of America? — Product price was significantly higher than the mass-produced drug store items. — It failed to open many shops in america: - Entrepreneur doing business in different states of US is subjected to varying requirements. - Mail order sale was insufficient. — No advertisements.
VII Strategy and Action Plan Reaching new targets The Body Shop has to stay focus on a specific market segment as it fighting on a value level and not on a price one. New targets have emerged like young men and mature women that can adopt The Body Shop values. It is the same for the emerging countries market that are opening now.
Investment in research and development The R&D department of The Body Shop as to be developed to new products which that can be adapted to the targeted market segments.
Aggressive marketing campaigns New departments have to be created to maintain the visibility of the product to the customers and to promote the agenda of the company like its non-animal testing policy for instance. Promotional strategies and aggressive marketing campaigns ensures that the product entering the market have understood the market very well. By creating the market awareness it will be ensures to reach the high levels. A combination of Internet and mass media advertising should be used in order to reach all the desired target market segments, especially in the American market. Introduction of celebrities in the advertisements of the products also can attract the youth people who will be their future customers.
Environmental consciousness-raising The Body Shop should reinforce the environmental policies by working only with the eco-friendly suppliers and obtaining environmental certification will help the company to maintain the brand name and value of the products.
Keep The Body Shop identity Finally, the identity and the brand name of The Body Shop has to be maintained by L’Oreal to make the current Body Shop customer still link to the brand. If it is not the case, the customer could feel lost and not identify himself to the value of the Body Shop anymore.
VIII Challenges for L’Oreal L’Oreal suffers several conflicts on work ethics and product ethics with the body shop due to animal testing as The Body Shop never did animal testing. Thus, the company is facing
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challenges as L’Oreal to follow the different country regulations on the manufacturing of the product, testing the same and the marketing of the products.
It is a big challenge for the L’Oreal to keep the body shop image as it was known for its brand and products. L’Oreal has to keep The Body Shop customer because they are bound to the Body Shop values and could feel betrayed.
L’Oreal will have the marketing means and R&D resources of The Body Shop, and the only thing is that L’Oreal has to use it properly for the growth of the company.
Another challenge for L’Oreal is to open door for the mass marketing which will surely highlight the products and will help in the market capturing in the cosmetics industries.
Conclusion After analysing the Global cosmetic market it leads to the following conclusions:-‐
1. The demand for the cosmetics in on rise and will continue to grow, with many new emerging markets such as BRIC (Brazil, Russia, India, and China) with are highly populated countries and are combined with already bigger markets such as USA and Europe..
2.Product differentiation becomes must for the manufactures in order to meet the new and emerging demands of the customers as well as to keep to their competitors of the toe.
3. Out of all skincare cosmetics segment seems to remain and grow over the coming year, with its increasing popularity, thanks to scenes and many other skin diseases or infections.
4. Focusing on Mass sales of cosmetic could be a deciding success factor, advertising the mass cosmetics same as the prestige cosmetic would lead to a new masstige segment.
5. Focusing and utilizing the best distribution channels, as the online sales, supermarkets and the hypermarkets have managed to increase their shares in the overall market.
6. Heavy investment are done on R&D for new product launch, where the emphasis are growing toward more organic and sustainable products often based on fair trade policy.
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