Lakme company marketing strategy. Lakme Business Model 2022-10-27
Lakme company marketing strategy
Lakme is a leading cosmetics and beauty brand in India, with a range of products including skincare, makeup, and hair care. The company has a strong presence in the domestic market and has also expanded internationally, with a presence in countries including the Middle East, Africa, and Southeast Asia.
One key aspect of Lakme's marketing strategy is its focus on innovation. The company regularly introduces new products and product lines, such as its popular 9 to 5 range of long-lasting makeup products, which are targeted at working professionals. Lakme also invests in research and development to ensure that its products meet the highest quality standards and meet the evolving needs of its customers.
Another important element of Lakme's marketing strategy is its strong brand image. The company has a reputation for offering high-quality products that are backed by science and research. Lakme also uses celebrity endorsements and sponsorships to build brand awareness and credibility, with popular celebrities such as Kareena Kapoor and Katrina Kaif serving as brand ambassadors.
Lakme also makes extensive use of social media and digital marketing to reach and engage with its target audience. The company has a strong online presence, with active social media accounts on platforms such as Facebook, Instagram, and Twitter, where it regularly shares product updates, beauty tips, and behind-the-scenes content. Lakme also uses targeted online advertising and email marketing to reach potential customers.
In addition to its digital marketing efforts, Lakme also relies on traditional marketing channels such as print and television advertising to promote its products. The company also has a strong network of retail outlets, including standalone stores and counters within department stores, which allow customers to browse and purchase products in person.
Overall, Lakme's marketing strategy is focused on building and maintaining a strong brand image, introducing innovative products, and using a combination of traditional and digital marketing channels to reach and engage with its target audience. This approach has contributed to the company's success and helped it become a leading player in the cosmetics and beauty industry in India and beyond.
Lakme Business Model
The apps users can enjoy a seamless shopping experience, by purchasing from this app. Lakme is far ahead of its rivals when it comes to offering products at low prices and high quality. One can also shop Lakmé products from supermarkets, hypermarkets, convenience shops and beauty shops. It has also been conducting the market entry by educating customers on how to apply the right type of make-up through its websites and Salons. Lakmé does not limit its boundary to the Indian market, its products are accessible in nearly 70 countries around the globe.
Lakme Marketing Strategy & Marketing Mix (4Ps)
One such campaign has been Lakme Makeup Pro wherein the customers can use augmented reality and try new looks and products that best suit them. Since the Indian market place had no real-time makeup app, Makeup Pro gave Lakme a first-mover advantage over its competitors. The pricing strategy of the company approaches its customers. It has always promoted that beauty is not all about looking good, it is also about looking healthy and bright. The new lipstick range, Enrich Satin was the centre of attention. He was concerned that women in India were spending a lot of money on beauty products. More than 300 Lakmé brand items are used by professional hair artists in salons as well as individuals in the domestic and international markets.
LAKME Marketing Strategy
The brand also ensured to benefit the larger section of the audience through this campaign, and hence they created a promo code and increased its online sales on their website by offering discounts to its audience. Now it has set up 110 beauty salons all over in India. It is quite active even on social media via the Lakme Fashion Week page. The runway menu includes various categories for hair, hand and feet, skin, essentials, innovation and bridal. Company Name — Lakme Founders — Simone Tata and J. Even with its extensive range and retail presence, it has given a tough challenge to the other companies. Lakme is also the title sponsor of the biannual fashion event -Lakme fashion week which is conducted in the presence of the biggest stars, models, designers, hairstylists and makeup artists.
History & Marketing Strategies of Lakme Brand
Lakme has its salons widespread across major cities in India and is coming up with projects in new cities as well. It is associated with FMCG industry and deals in personal care products. About Lakme Lakme was the first Indian beauty brand to launch its cosmetics in India. Lakme Makeup Pro App Growth of Lakme Lakme ranks first in the colored cosmetics market in India. The Target Segment The brand has grabbed the attention of the youth and the upper or upper middle societies through its network salon by efficient professionals and experts. People falling within this group are primarily concerned about maintaining their beauty and preventing fast aging.
Marketing Strategies That Helped Lakme Rule The Cosmetic Market
In the brand trust reports, Lakme has been ranked 36th among the Indian brand trust list. Lakme has also developed a sense of awareness in the people migrating from the rural background by changing their lifestyle, through its beauty products enabling people to select perfect make-up and appropriate salons. The company known as the Inform of Lakme Lever Private Limited LLPL holds about 360 salons, where 300 are franchised ones and 60 salons are owned and controlled by LLPL. The TVC depicts a world where women hide behind mask to avoid the harmful effect of sun. Lakme is the most favourable brand among female population. If you are further interested to know more about digital marketing then you can watch our free online masterclass or take up a 3-month digital marketing course with certification.
Marketing Mix Of Lakme
The company has set up the training through Lakme Beauty Training Academy in Chennai, Mumbai and Delhi, which will assist interested people after participating in fashion week. Identifying and organizing the elements of your marketing mix enables companies to make profitable marketing decisions at all levels. But, before diving into that, let us first learn about the company. Lakme also came up with a new range a 9 to 5 collection which was targeted for the working ladies and its prices were slightly higher than the basic products. Simone Tata previously joined the company as the director and after that she became the chairperson of the company. Write about your experiences and thoughts in the comments below.
Comprehensive Marketing Mix of Lakme
Also, the Lakme Fashion Week events and the constant updates from the Lakme Fashion Week page reveal the true potential of the brand. Lakme Marketing Strategy comprises of not only its Marketing Mix, but also segmentation, targeting, positoning, competition and analysis like SWOT. It also stands unique by identifying consumer needs with its phenomenal product planning and execution just at the right time. Promotion — It has adopted an aggressive marketing plan to promote its product to every nook and corner. Segmentation, Targeting, Positioning — LAKME Marketing Strategy Lakme has worked with groups of customers, such as individual customers as well as professionals in its network salon, and the diverse needs of its customers in the fields of hair care, beauty Cosmetics, Make-up, and skincare form a basis for the segmentation.
Marketing Strategy of LAKME
Currently, the brand ambassador for Lakmé is Bollywood fashion icon Kareena Kapoor Khan. Nearly about three hundred items of Lakme brand are got used by professional hair artists in salons as well as individuals both in the domestic and international market. In the retail segment, the target audience is the 35 to 55 years who are in the midst of their careers and would like to look younger, whether by coloring their hair or using beauty and skincare products. Lakme Promotion Strategy Lakme uses traditional as well as digital marketing to promote its products. The Implementation The brand has taken into account the consumer service, quality, cost-saving offers for the customers. This is helping the brand to increase its share of hearts and share of the mind on the market.