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SWOT Analysis on L'Oréal's Marketing Strategies in North Asia
- 1 Shandong University
- 2 Shandong University
* Author to whom correspondence should be addressed.
Abstract
With the development of the global economy and the constant upgrading of consumer demand, North Asia has become one of the most important strategic areas for global market competition. As one of the representative enterprises in global cosmetics market, the performance of L'Oréal in the North Asian market has attracted much attention. This article aims to use SWOT to explore the marketing strategies of L'Oréal in North Asia, typically China, Japan and South Korea. This study believes that the biggest advantage of L'Oréal is its good brand image. At the same time, L'Oréal also has some disadvantages, among which the most prominent is the lack of brand homogeneity and innovation in recent years, which will inevitably hinder its future development. Through the analysis on product, pricing, branding and sales, this paper provides suggestions for L'Oréal's development in North Asia market. The company could integrate homogeneous products and enhance product diversification, implement differentiated pricing, adjust brand positioning, and combine online and offline sales together. What is more, the suggestions based on SWOT analysis can also be beneficial for other cosmetics brands.
Keywords
cosmetic industry, L'Oréal, market strategy, North Asia
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Cite this article
Luo,J.;Zhao,Z. (2023). SWOT Analysis on L'Oréal's Marketing Strategies in North Asia. Advances in Economics, Management and Political Sciences,32,209-217.
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