Because You're Worth IT ...

Monday, May 9, 2011

Week 14~ Business Marketing

L'Oreal is indeed a consumer product (a product that is purchases for personal or family consumption or as a gift). They also fit into the category of business products ( a product that is used to manufacture other products, become part of another product, or aid the normal operations of an organization). Which in turn, means that L'Oreal participates in business marketing

L'Oreal sells endless amounts of cosmetic products. They have devoted customers that buy their makeup for their own use. Another factor that contributes to the companies success are the people that purchase their products for other uses. Foe example a make-up artist might buy L'oreal products to use for there business which is adding L'Oreal's business as a business product.

They also participate and use relationship marketing ( a strategy that entails seeking and establishing ongoing partnerships with customers)."L’Oréal’s relationships with its suppliers go beyond purchasing and supply of goods and services. They are essential to the long-term success of our business."
L'Oréal Code of Business Ethics.L'Oréal sets out its values and commitments in its Code of Business Ethics. The Code of Business Ethics is supplemented by the "The Way We Buy", the purchasing code of ethics that each purchaser must comply with.

The Code of Business Ethics was drafted with the help of employees from 22 countries who took part in international working groups in Asia, Europe, North America and Latin America. The Code was then validated by 50 internal experts and reviewed by each Country Manager, Human Resources Manager and local legal counsel.

The Code is available for download in 43 languages : (a full description of L'Oreals ethics)

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