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Lancome Brand Management in China & USA
Pages 47 (11797 words)
From the results of survey with 20 Americans and 20 Chinese who belong to the elite, specifically those who are known to the author of this project since they are relatives and friends, it was clear that Lancome was also popular and in demand for 50% of Americans…
Existing surveys about Lancome were utilized to discover the differences in customer acceptance in the two countries. To countercheck the findings of surveys, online articles, annual reports of L’Oreal, the mother company of Lancome, and other reading materials were considered as references.
Primary survey of 20 Chinese respondents and 20 American respondents revealed the impact or brand management, brand equity, and brand equity value in terms of 65% of total demand for luxury cosmetics among the Chinese and 50% for the Americans.
Findings showed that other than differences in preferences about what is considered beautiful and the differences in attitude as well as behavior of consumers with regards to luxury cosmetics, indeed the brand management theory is practiced in both countries. It states people value quality, consistency with good experiences with a product, and would also appreciate gaining added value from the same brand. Its value is initially gained from discoveries of risks with using the product. Since there are more competitors in the USA which are also branded and known to be safe and the market is saturated, Lancome in the USA faces price competition, whereas in China, due to less competitors that are known to be similarly safe cosmetics and many more cities do not have such a quality cosmetic, Lancome China has been growing faster in spite of the much higher prices of its products. ...
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