Lakme is the Indian Cosmetic brand owned by Hindustan Unilever Ltd. founded in 1952. The brand Manufacture, Market and sell beauty and cosmetics products worldwide and is the number 1 selling the cosmetic brand in Inthe dia.
The brand has been famous for its Lakmé Salon and Lak,mé Fashion Week events in the country which is helping the brand in increasing share of heart & share of mind in the market. The beauty brand has been spreading awareness about color cosmetics & Skincare, products through Lakme beauty salon spread across the country.
Segmentation, targeting, positioning in the Marketing strategy of LAKME–
Lakme has used customer groups such as individual customers and the professionals through its network salon and the varied need of the customers in the areas of Beauty, Haircare, Make-up, and skin care as a basis of segmentation.
It has targeted to the young and upper and upper middle affluent class customers who have enough disposable income and want to show off their beauty.
The brand has been positioned as India’s largest/ biggest beauty care and cosmetic brand reaching out to nook & corner of the country.
Mission- “Not Available”
Vision- “Not Available”
Competitive advantage in the Marketing strategy of LAKME–
1. Association with the renowned brands:
The brand started its journey as a 100% subsidiary of the Tata Oils Mills (TOMCO) in 1952 (TOMCO had many flagship brands like Hamam, Moti, Joy soaps) which was later sold to Hindustan Unilever Ltd. in 1994.
2. Lakme Fashion Week:
Products can be copied easily but creating the experiences and constant touch with the consumers and at the same time making the product available at the right time, social media engagements through Lakme Fashion week page has helped the brand in increasing 225% reach to the target segment thereby resulting in increase in the sales by 20%.
BCG Matrix in the Marketing strategy of LAKME-
Lakme is in business segments of Skincare, Make-up, Lakme salon along with the online store.
All the three business segments work in a collaborative manner to give the customer a 360-degree view of the beauty & wellbeing products. The segments help the customer & company to co-create the offerings in the ecosystem herein the brand and the customer/ user learn and get benefitted with each other, all the strategic business segments of the company are therefore are starred in the BCG matrix.
Distribution strategy in the Marketing strategy of LAKME–
Inform of Lakme Lever Private Limited (LLPL), the Company has 360 salons, out of which 60 salons are owned and managed by LLPL and 300 are franchised salons.
LLP has manufacturing facilities across the countries wherein Lakme products are manufactured but Unilever’s other brand products like Dove are also produced through these facilities.
Brand equity in the Marketing strategy of LAKME–
Lakme highlights the sensuality of the customers and gives them the medium to express their inner self and enabling customers to realize who they are.
Lakme beauty salon and Lakme fashion week show have helped the brand in unleashing its true potential. In the brand trust report, the brand has been ranked 36th in India most trusted brands list. The brand is the title sponsor of the event LFW (Lakme fashion week) which is the bi-annual event in Mumbai.
Competitive analysis in the Marketing strategy of LAKME-
A rise of herbal and Ayush Ayurvedic products are turning out to be a major competitor of beauty & cosmetics brand Lakme. Brand competes on the basis of the strong portfolio, deep assortments within the products categories which give customers ample choice and options within the brand and easy availability of the products through various mediums retail outlets, e-commerce sites, and wholesalers.
Additionally through Lakme fashion week brand has been creating visibility and easy acceptability of the brand in the market.
Lakme competes with companies in the industry such as L’Oreal, The Body shop, Himalaya Herbals, Revlon, and Ponds.
Market analysis in the Marketing strategy of LAKME-
With the migration of the people from villages, changing the lifestyle of the customers, increase in hygiene, penetration of social & physical media channels in the remotest areas, Customers are becoming more concerned about their looks and beauty.
The brand has been doing market penetration through teaching the customers the right kind of make-up through is websites and the salons.
Customer analysis in the Marketing strategy of LAKME–
The Beauty brand focusing on color cosmetics and skin care has been extending its reach by reaching the individual and professional salon or company-operated salon chains.
In Retail segments, it targets customer in the age group of 35-55 years who are the midst of their career and want to look young either by coloring their white hairs or by using beauty & skin care products.
In business segment, it primarily serves Lakme Lever Private Limited, which is 100% subsidiary of the company and have company-owned and franchised outlets.