customer-Based Brand Equity is defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand. The Customer-Based Brand Equity Model approaches brand equity from the perspective of the consumer – whether this be an individual or an organization. Understanding the needs and wants of consumers and organizations and devising products and campaigns to satisfy them are at the heart of successful marketing.
Created in France, L’Oréal Paris brings the sophistication and elegance derived from its French heritage to women and men all over the world. L’Oréal Paris offers leading-edge products that out-perform the competition to …show more content…
Says Veronique Adam, analyst at J.P. Morgan Securities Inc. in Paris: ”L’Oreal is the only real global leader in every segment of the industry.”
For Owen-Jones, the trick will be staying ahead in the game as his powerful rivals seek to play the global branding game. From giant P&G to niche players such as Los Angeles-based cosmetics maker Stila, L’Oreal’s competitors are hustling to catch up. ”L’Oreal want to become more of a global company like L’Oreal,” says Yoshikuni Miyakawa, a general manager of the cosmetics-marketing division of Shiseido Co., Japan’s No. 1 cosmetics company. Already, Shiseido is dominant at home and now expanding around the world. Meanwhile, the French company is No. 10 in Japan, trailing rivals such as Clinique and Estee Lauder.
It is customers emotional responses and reaction with respect to the brand. “L’Oreal” formed in France, Paris, brings the sophistication and elegance consequent from its French heritage to women and men all over the world. L’Oreal Paris offers leading-edge products that out-perform the competition to people who care more about the way they look. The passion for innovation, performance, style and a sense of premium is sum up in the customers money spending worth and also it’s’ philosophy. The core values are supported by strong investment in scientific research and technology.
The L’Oreal Group total turnover by the Paris franchise