Biotherm in business Essay Example

Biotherm in business Essay Example Biotherm in business Paper Biotherm in business Paper In business, the term marketing (marketers) and sales (salesperson) are often interchangeable. In fact, they have different role in an organization but they are complementary. According to Philip Kotler, marketers are those who have role to define value of a product using the perspective of customers; in this perspective, modern enterprises are moving closer and closer to the concept of marketing based management. It is then reasonable that, nowadays, enterprises pay great attention to marketing issues in order to smooth the sales. Concerning the marketing issue, this paper will elaborate marketing challenges of Biotherm, manufacturers offering skin-care programs that owned by LOreal. The discussion includes the vision and branding for Biotherm, 2. Vision and branding for Biotherm – is the vision and branding strategy for Biotherm mainly global or local? Explain and give examples. Concerning Biotherm vision and branding, the company practices the approach of strengthening the product leadership. Biotherm constantly active new product development projects because of several reasons. First, the product of the company has a very short natural life cycle. The industry of cosmetics is a very actively changing industry. One of the reasons of such characteristics is because it is an industry driven by style, fashion and trends, some of the most complicated phenomena of culture that changes rapidly and constantly. Second, the company has a very vast market segment. It sold millions of products to customers in different countries and diverse cultures. Some product segment is aiming at young women as future customers, another is aiming at business women, and some skin products are even aiming at male customers. Having diverse product segments means having diverse customers with different preferences. In order to gain revenues from local and foreign markets Biotherm need to satisfy each local needs and preferences. For instance, Asian people might have significantly different requirements for their cosmetics compare to American customers. This enhances the importance of having an actively operating team of product development. 3. Maslow Hierarchy of Needs According to Maslow’s hierarchy of needs, comfort in the workplace, achievement in work and appreciation are considered more significant then financial needs. However, in most ‘real’ situations, job seekers still value a good salary more than convenience at work. In short, there are several points that describe the importance of a good financial reward system. ? Financial compensation is a major factor that attracts and retains employees to an organization. ? A good compensation system increases employee retention, decrease turnover rate and save the company all the replacement costs created by a high turnover rate. 4. Marketing communication Cosmetics industry is interesting since women as the main consumers have different taste, which drive manufacturers to produce various kinds of cosmetics like eye shadow, foundation, lipstick, and mascara etc, each with different color, shape and price. There are several current issues affecting the cosmetic industry. Some of those issues are: Internet marketing Internet use as sales channel and system infrastructure is increasingly important within recent years. Several reports exhibit that the use of internet has increased efficiency and product sales for cosmetic companies. Corporate Responsibility Issues (CSR) Despite some doubts from the public that CSR is only a tool of company propaganda, several aspects of CSR produce real influence on the cosmetic industry. Animal testing Animal testing also becomes important issue in cosmetics industry. Recently, the European Union, for example, announces its decision to ban animal testing on cosmetics products, which immediately raise pros and contras.