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Monday, March 14, 2011

Week 7~Retailing

L’Oreal makes most of its profits by retailing in Drugstores and Department stores. The company’s marketing development does make the final decision on site selection.
            This morning I visited the drugstore Duane Reade in New York, New York and visited the L’Oreal section located in the store. I critiqued it by the retailing mix of 6 Ps: product, promotion, price, place, presentation, and personnel. Duane Reade store carries numerous L’Oreal products such as face powders, lip gloss, nail polish, mascara, hair dyes as well as foundation. The variety of products gives customers an array of options and increases their likelihood of buying something. As I walk along the L’Oreal isle I see that the different products are on sale. The new top speed nail polishes were 2 for 5 dollars. They have discounts and sales to attract more buyers, such as I who bought a brand new foundation for my face. However for the most part the prices are very reasonable ranging from $5.00 – $25.00; depending on the kind of product you buy. They are many Duane Reade’s in the city and every drug store has its own L’Oreal section. Retailing in local drugstores L’Oreal lures more people. All drugstores have parking lots, and also handicap accessibility making it easy for any and everyone to enter. You are always welcome to stop at anytime because most drugstores are usually open from 8am-9pm Mon.-Sun. to make it convenient for everyone's schedule. Overall, the L’Oreal isle have their products extremely neat and well organized. I got the results I expected, and even more than what I thought. Their retail tactics is partly why their business is a success and continues to thrive!

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