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Lancôme Marketing Plan Essay

I. Executive summary:

Lancôme is preparing to launch a new anti-aging cream concluding the perfect result of 10 years exploring in lab and be recommended as “A miracle elixir exists”, the Absolue L’Extrait, in Vietnam cosmetic market. Our product offers a competitively unique combination of the latest advanced technology in dermal stem cells and great beauty effects after testing and launching in other countries. We are targeting specific segments in the consumer and taking advantages of opportunities indicated by the huge demand for beauty in such a dynamic economic. The primary marketing objective is to achieve first-year Vietnam sales of 10,000 units. The primary financial objectives are to achieve first-year sales revenues of $3.5 million and break even early in the second year.

II. Current market situation:

Lancôme is founded in 1935 by Armand Petitjean in France. From the beginning till now, Lancôme has brought beauty for women in 160 countries worldwide through 28.000 retailers and stores all over the world. After gaining a large amount of market shares in European market and become a market leader, Lancôme turns the target into Asia, and Vietnam in special. Penetrating in Vietnam in 2006 through the only retailer channel- Parkson, Lancôme has gained a certain amount of market share and has occupied a strong position in the eye of the upper- class.

However, we also have to compete with some strong brand names in cosmetic about pricing and gaining customer’s loyalty such as Clinique which is the pioneer in dermatologist-developed cosmetic brand. Exploring that most of Vietnamese women (about 75%) care much more about skincare than makeup, the newest product which is in the expansion of the premium ABSOLUE line – Lancôme’s Absolue L’extrait, will be about to launch into Vietnam market and possess a strong advantage to differentiate from other competitors.

1. Market description:

Method: Concentrated marketing

Absolue L’Extrait is a new- launched and luxury product, therefore concentrated marketing help the company gain a strong market position. Table 1: Segment Needs and Corresponding Features/Benefits of L’Extrait Cream Target Market| Customer need| Corresponding feature/ benefit| Upper- class women| A cream can slow down and push back the aging process.A therapy can bring them back to the confident and youth like they were before.| Rose stem cells extracted from the Lancôme Rose are claimed to be capable of “stimulating human dermal stem cells”. The formula will also
contain Proxylane, a proprietary anti-aging active ingredient of L’Oréal.|

2. Product Review:

Absolue L’extrait is the latest anti-aging cream of Lancôme as well as the first product to feature a high concentration of a kind of native cells-rose stem cell. Rose stem cells is said to be extracted from the Lancôme Rose- a species specifically created for Lancôme in 1973 and resisting various environmental aggressions (cold, insects…). It is claimed to be capable of “stimulating human dermal stem cells”. Each 50 ml jar of formula is claimed to contain “2 million rose stem cells”. Apart from the rose stem cells, the formula will also contain Proxylane, a proprietary anti-aging active ingredient of L’Oréal. The jar is sold with a massage tool – the “massage petal applicator” – developed with the Lancôme Institute. It is claimed to alternate hot and cold effects for stimulating the skin to invigorate it, activating microcirculation and promoting a better penetration of the formula’s active ingredients.

As a global anti-aging formula, it is claimed to have a significant efficiency on the “seven major signs of aging” said by Lancôme to be: – Forehead wrinkles

– Frown lines
– Crows’ feet
– Under-eye wrinkles
– Nasolabial fold
– Wrinkles around the mouth
– Facial slackening
*The testing and trial process:

The formula has been tested on 42 women, half of them having sensitive skin. Results were observed after 11 weeks. This is quite unusual, since most of skincare products are tested on a 4 week basis. This is a trick to obtain better results to claim – the longer you use a product, the better are the results. Since its creation, Absolue has always extended the limits of science and creativity to incarnate a quintessential and aristocratic femininity; one that is full of grace, sophistication and elegance. More than luxury, this is an inspiring philosophy for the most demanding women in the world.

3. Competitive Review:

Recently, because Vietnam’s economic has a great development and living standard is gradually increasing, the needs to be beauty and health caring are rising rapidly. Because of the working pressure and environment pollution, women nowadays have wrinkle faster and faster. With these reasons, the anti-aging cosmetic market is really potential.

Key competitors include the following:

* Cle De Peau: A Japanese brand which was only established for the last 30 years.

+ Product: having knowledge about the Neuro Skin Theory: “Skin has a brain of its own” and the discovery of the leukemia network of the skin, it can be said that Cle De Peau anti-aging products are the most effective and best-seller anti-aging product in Vietnam at the moment.

+ Strong:
● Potential to be the most understanding Vietnamese’s skin (a Asia brand)
● A clean operation history
● High customer loyalty
● Advanced technology

+ Weakness:
● The most expensive product
● Small distribution channel

* Estée Lauder: This America brand entered Vietnam only for 7 years (since summer 2005) but it already has a stable position in the cosmetic market with a convenient distribution channel (2 stores in Hanoi and other 4 in Ho Chi Minh City).

+ Product: applied the exclusive DNA technology, the anti-aging serial of Estée Lauder have a superior position which gains over 70 global awards and
over 20 global certificates.

+ Strong:
● Estée Lauder is a company with bright and long history which creates a trustful strong famous global brand.
● The advantage of continuously improving technology
● Reputation products
● Convenient store in beauty places
● Wonderful employees and services

+ Weakness:
● Scandal of models representing as the face of Estée Lauder (Carolyn Murphy, etc.)
● Be doubted of using child-labors
● The CEO is doubted of poor executive ability which leads to the impaired of this brand.

* Clinique: A brand developed by dermatologists of Estée Lauder Company but unlike Estée Lauder, Clinique already appeared in Vietnam from 2001 and having a larger distribution channel (9 official stores in the 3 biggest cities of Vietnam: Hanoi, Haiphong, Ho Chi Minh City)

+ Product: Clinique products can be suitable for every skin’s kind with its natural origins cosmetics.

+ Strong:
● Reputation brand in over 130 countries
● Developed by dermatologists
● Being a professional in online business, which even has a tracking and advising system for customers
● All products have been Allergy Tested and 100% Fragrance Free.
● The first one who approached Vietnamese customers
● Reasonable price
● Large distribution channel

+ Weakness:
● Average skin care product quality

* Kanebo: Officially appeared in Vietnam in 2003 through Exclusive Distributors – Trade Co., Ltd. L & K. This Japanese brand already has 9 official showrooms in Vietnam (2 in Hanoi, 1 in Haiphong and other 3 in Ho Chi Minh City).

+ Product: According to Kanebo theory of the structure of skin, the “Adhesive Technology” is the way to have an excellence skin.

+ Strong:
● Over 110 years history brand which already presented in 51 countries.
● Finding out “Rhodomyrtus Tomentosa” essences which have oxidation activity that help rebuild DNA
● Large distribution channel

+ Weakness:
● Accounts scandal
● Still be a quite small brand in global market

* “Hang xach tay”: Not really a specific brand, “Hang xach tay” is a new trend in commodity trading in Vietnam nowadays. “Hang xach tay” operations base on the products which flight attendants or pilots or even shop owners’ acquaintances brought back after each time they went abroad.

+ Product: Diversified brand names, products, origins and quality. In Hanoi, “Hang xach tay” has a venue at the “Aviation Street” (Nguyễn Sơn St.)

+ Strong:
● Having stores in every cities and provinces of Vietnam
● Having many online retailers
● Lower price than official distributors of brands because the shop owners do not have to pay the tariffs and other non-tariff fees.

+ Weakness:
● Unclear origin (can be fake)
● A large amount of “Hang xach tay” is almost out-of-date or old fashion products.

Despite this strong competition, Lancôme can carve out a definite image and gain recognition among the targeted segments. Lancôme’s Absolue L’Extrait is considered as a magical product which is produced by the most advanced and unique technology in the world nowadays. It is a breakthrough after 10 years searching and developing from Lancôme, a famous reputation brand. Thus, Lancôme’s Absolue L’Extrait will have an absolute competitive advantage among other products.

The most potential competitor of Lancôme’s Absolue L’Extrait in Vietnamese anti-aging market is Cle De Peau. However, Cle De Peau’s La Cream U still has some weak side such as it is the most expensive cosmetic product in Vietnam market. Moreover, unlike Lancôme’s Absolue L’Extrait, even you have already used La Cream U for night care, you still need other lotion for day care for the best result. In short, Lancôme’s Absolue L’Extrait has the newest advance technology in cosmetic industry, more suitable price and gives better result.

4. Channel and Logistics Review:
Because Lancôme has entered Vietnam for 6 years, the distribution channel is still quite small.

5. Retailer stores:
Lancôme has been opened 6 stores (in which four stores in HCM city and two stores in Hanoi) at Parkson (the retail arm of The Lion Group): + Parkson Saigon Tourist Plaza – 35Bis-45, Lê Thánh Tông St., Bến Nghé, District 1, HCMC. + Parkson Hung Vuong Plaza – 126 Hung Vuong St., District 5, HCMC. + Parkson Paragon – 3 Nguyễn Lương Bằng St., Tân Phú, District 7, HCMC. + Parkson Flemington – 184 Lê Đại Hành St. , District 11, HCMC. + Parkson Viet Tower – 198 Tây Sơn St., Trung Liệt, Đống Đa District, Hanoi. + Parkson Landmark – 72- Keangnam Tower, E6, Cầu Giấy new urban areas, Mễ Trì, Từ Liêm, Hanoi

III. Strengths, Weaknesses, Opportunities and Threat Analysis 1. Strengths:

2.1. Exclusive biotechnology process:
Lancôme has now succeeded in cultivating stem cells from this rose, which can be multiplied infinitely by a biotechnological procedure called Fermogenesis, which provides each stem cell with a gentle growth environment, which preserves its own metabolic rate and all its regenerative potential.

2.2. Unique and precious components:
The key component is a new active ingredient – Lancôme Rose stem cells – obtained through an exclusive biotechnological process. These rose cells are claimed to be capable of stimulating human dermal stem cells, which are found in the deepest layers of the skin, and play an essential role in the renewal of the fundamental layers of the dermis. In addition, the anti-ageing formula is delivered within a pearly pink cream-elixir, which changes its texture on application to melt into the skin. It is scented with notes of rose, bergamot, pink peppercorns, jasmine, freesia, woods and musk.

2.3. Extra “message petal” applicator:
In addition to a superior anti-aging cream, there is a message petal applicator to motivate its benefits. Specially designed for a dual ritual, it features a black warm side to pick up and apply the elixir, and a golden cord side for smoothing and massaging the product in to skin.

2.4. Good distribution channels:
From the successes in the first store in Ho Chi Minh City, up to now, Lancôme has been opened 6 stores (four stores in HCM city and two stores in Ha Noi) and have intended to open new store in Hai Phong. The market share in 2009 increased 3 times than 2 years ago. Lancôme store are located on well-known shopping centers such as Parkson, which are highly attractive and convenient for knowing and buying product. This factor is one of the most important factors that have assisted them to maintain their high market share in premium cosmetic market.

2. Weakness:

3.5. Small-scale targeted segment:
Target only on Adults but not for Youngsters. Like some other products, Lancôme’s Absolue L’Extrait has target segment only of adults who have high standard not for youngsters who are the majority of Vietnam population

3.6. Pricing:
The product is charged with the higher price in comparison with others in the same product line of our competitors. It is a result of unique and valued features of the product.

3. Opportunities:

4.7. Open market:
The economy of Vietnam is growing rapidly and living standard of Vietnamese is improved very much. As a result, Vietnamese women will care more about their health as well as their beauty. They will spend more for skin-care products. It is an open market for Lancôme to develop their luxurious products.

4.8. Increasing targeted customers:
The targeted customer of Lancôme is the upper class. As a result of development in economy and globalization, there are more and more the rich, who are willing to pay much for luxurious line of product, in Vietnam.

4.9. The development of distribution channel:
* Parkson, the main distribution channel of Lancôme in Vietnam, is developing and becoming more and more popular here. It once succeeded in helping Lancôme increase their market share in some Asian countries, especially in China, where has some similarities in economy and society with Vietnam. * The development of the Internet makes it easier for customers to access to Lancôme’s website and find information about products. They also can buy products they want through the Internet conveniently and fast.

4. Threats:

5.10. Increasing competitors:
More corporations with famous brands are entering Vietnam market with high-quality cosmetics that offer some but not all of benefits provided by Lancôme. Some of them have lower price in comparison with Lancôme’s Absolue L’Extrait. Beside these official competitive companies, the product also has to cope with another kind of competitor called “hang xach tay”, which provides cosmetic products from abroad with cheaper price and is very popular in Vietnam nowadays.

5.11. Effects of global economic crisis on Vietnam economy: The crisis on global economy has certain impacts on Vietnam. One of them is effects on people’s spending habit. Due to pressure on difficulties in economy, customers will buy fewer goods and they only buy necessary goods. As a result, luxury goods like Absolue L’extrait will not attract many people, even the rich. That will be a resistance to Lancôme’s revenue.

IV. Market-Product Focus:
This section describes the three- year marketing and product objectives for Lancôme’s Absolue L’Extrait Cream. It includes a description of our target markets and our product differentiation strategies. 1. Marketing and Product Objectives

* Non-financial Objectives
* Launch product by July 2012 – with distribution primarily in Parkson department. * Gain a 10% market share among existing anti- aging products. * Sell a minimum of 10,000 units in the first year, with at least 25% increase in sales in the next 2 consecutive years.

* Financial Objectives
* Generate at least $3.5 million in revenue during the first year.
*Increase profit growth by at least 10% per year for the next 3 years.

2. Target Market

For our product, we focus on targeting the end users, as these consumers make the decision to purchase. Our target market is professional women over the age of 30. These women are concerned with the signs of aging and trust Lancôme, as they believe Lancôme is devoted to quality skincare products. These professionals earn upper income and live in urban areas. They are buyers of fashionable clothing, premium products and shop in upscale department stores.

3. Product differentiation

Product differentiation is the significant other half of product positioning: the two must work together to achieve success. Many manufacturers offer creams that are designed to reduce the sign of aging around the face. Thus, it is detrimental to the success of a product that it carries addition benefits and features that make it more attractive to the consumers than the industry alternatives. Absolue L’Extrait differentiates its self from its competitors through the advantages listed below:

* Unique formula with our most powerful regenerating ingredient, Lancôme Rose Native Cells.
* Well-research through 10 years.
* Strong brand equity.
* Easy to obtain through upscale department stores where our target customers usually go shopping.
* Backing from strong parent company, L’Oreal Companies, Inc.

V. Marketing Strategy:

1. Product Strategy:

Our product strategy for Lancôme’s Absolue L’Extrait Cream is “Product differentiation”. Products designed by our competitors to reduce the signs of aging have over and over proved to be ineffective. With Lancôme’s Absolue L’Extrait Cream, we will change this notion. Women can experience Lancôme’s revolutionary skincare innovation and our most powerful regenerating ingredient, Lancôme Rose Native Cells. As described in the earlier Product Preview section, our star ingredient, Rose Stem Cells, is claimed to be capable of “stimulating human dermal stem cells”. The natural regenerating potential of plant stem cells and the self-renewal of the skin’s own dermal skin cells provide a double boost deep in the skin’s makeup, resulting in a smoother, more radiant and more youthful appearance.

2. Pricing Strategy:

“Lancôme’s Absolue L’Extrait Cream is considered the most advanced product; it brings efficiency proportional to its value”, according to Youcef Nabi, president of Lancôme company. The suggested retail price for this product will be $385, the price that is slightly higher than our major competitors. The perceived benefits of our product are high with respect to the price, therefore Lancôme is taking on a value- pricing strategy.

Figure 1 Price/Value Map for the Lancôme’s Absolue L’Extrait Cream

As shown in Figure 1, our product is in the Fair Value Zone at the Premium point. We can use this value-pricing strategy based on certain conditions. First, the superior quality of our product and our brand, Lancôme, will support the higher price that our loyal customers will trust and buy this product. Second, our target customer, upper-class women, will care about the value rather than the cost of the product they purchase. Finally, competitors cannot be able to enter the market because of our unique formula in the cream, therefore they cannot undercut our price. By using this strategy, we believe we will be able to gain a considerable amount of market share.

3. Distribution Strategy:

L’oreal Vietnam company is the main distributor of Lancôme in Vietnam. Our channel strategy is to use exclusive distribution, which enhances Lancôme’s image and allows higher markup. We focus on marketing the cream through our chain of Lancôme stores in Parkson department stores. Parkson has eight modern and successful department stores, 4 in Ho Chi Minh City, 2 in Hanoi, which are big cities of Vietnam with large proportion of high income people. Moreover, it is obvious that most of Vietnamese citizens perceive Parkson as a special location for shopping luxury, expensive and high quality goods, creating advantage for Lancôme to build strong brand in Vietnam and reach our target customers – upper class women.On the other hand, it is unfortunate that our company has not yet established Vietnamese official Lancôme website so we can’t serve customers direct purchase.

4. Marketing Communication Strategy:

Our company will follow the concept of integrated marketing communications-blending the promotion tools into a coordinated promotion mix.

5.1. Advertising:

Instead of using means like television or radio, we choose Magazine and LCD advertising as the main media vehicles. Regarding using magazine, the objective of our company is to take advantage of well-known, expensive magazines about beauty, whose readers are women aged average 27 years old. According to the recent research we have collected, the company decide to market through 3 famous magazines- Elle, Her World and Heritage Fashion:

+ Elle: a worldwide magazine of French origin with 140,000 readers over 20,000 publications in Vietnam. The age of reader is above 27, which is suitable for the company’s strategy. In this magazine, we will place our full-page advertisement about L’extrait cream in the fourth cover in order to take readers’ attention efficiently.

+ Her world: monthly special issues by Sun Media company who bought the rights transferred from Singapore Her World magazine .It is becoming more and more famous thanks to Vietnam’s Next Top Model contest. Our company will contract with Sun Media representative to launch our lasted product –Absolue L’extrait cream in the same position as we have in Elle magazine.

+ Heritage fashion: In-flight magazine for Vietnam

Airlines .The purpose of ours in marketing in this kind of magazine is to reach female customers in domestic flight of Vietnam Airlines. To avoid missing key customers who don’t have time to read magazines as Elle and Her World, Heritage Fashion is an ideal choice to introduce to them our new product when they spend time to relax during their flights. *Months of publication: February, April, June, August, October, December.

In addition, we plan to use LCD advertising in our marketing strategy. The video of product will appear on LCD screens of Parkson department stores, which are placed in elevators or the halls. The customers will passively access to our product without purpose. This method is more effective than Television advertising.

5.2. Direct Marketing:

+Website: along with working with Elle in marketing in magazine, we also like to put banners about the product at the corner of the main website of Elle: http://www.elle.vn/ and Parkson: http://parkson.com.vn, which will lead the customers directly to our company Facebook page providing detailed product‘s information. Absolue L’extrait‘s features and price will be updated in Parkson website as well. Furthermore, the company will put the news of Absolue L’extrait in the front page in our Website so that our loyal, potential and first- time customers can easily approach to the product.

+Online Social networks: Facebook is the best choice for online marketing in Vietnam because most of Vietnamese internet users have one or more Facebook account while Twitter seems to be ignored here for some reasons. Therefore, our company will place the introduction of Absolue L’extrait as special event on Facebook page and update as well as answer the questions about this product.

5.3. Sales Promotion:

+Displays and demonstration: We will send each of our retail stores large color advertisement to display in the stores as well as small brochures explaining our product and its feature in Vietnamese. The display needs to emphasize that Absolue L’extrait cream is the most innovative and luxury product of Lancôme.

+Sample: Another method is that samples will be available to consumers, this is a great way to “try before you buy”. Sampling develops a loyal consumer because the customer will only return to purchase the product if she genuinely liked it. Our company will give limited number of samples to customers who purchased over 3 million Vietnam dong. The sample will begin to be handed to consumer 1 month before the introduction of the product.

5.4. Personal selling:

The company will provide salespeople about detailed information of the product such as superior features and advantages to give the useful advice to customers. Besides, since Lancôme entered Vietnam market in 2006, the brand has had substantial amount of loyal customers who have strong belief in our product. Lancôme salespeople are also well trained to build and maintain close relationship with those ones. These sale consultants will contact with the potential customers about the presence of the latest product- Absolue L’extrait anti- aging cream .

Their interpersonal communication skills help them to deliver a clear, concise and consistent message to your prospects about the product and give the reasons why they should purchase it, basing on the salespeople’s understanding about them. Counter salespeople need to gather customer information and follow up with the each customer 3 days after the samples are given to insure effectiveness otherwise its money down the drain.

5. Marketing Organization:

Marketing organization will reveal the overall outlook about how the marketing campaign operates and how it gains success. Ms. Sonia Chiu, the chief marketing officer at Asian Region, is in charge of planning and designing a general marketing strategies and handing it over to the subordinators within the supervision.

* Marketing development and project manager, one of the sub-division of marketing organization, will work in collaboration with the advertising agency with whom they develop the advertising material for the launch (3 main magazines: Her world, Heritage fashion, Elle). This division also work
with the packaging design agency, press relations and internal communications staff. * Regional manager are responsible for the sales targets set by the Group, pursue the sales promotion and need to have the capacity to analysis your results so as to allow you to imagine and to conceive corrective operational strategies when required.

* Store marketing manager investigate any and every alternative distribution network opportunity (street merchants, Internet, etc.) and work on negotiations, for example about the promotional campaigns delivered through distributing brand stores. * Distributing manager is one subordinator who carries out the logistics and distribution of new- launched product through the only retailer channel – Parkson. This division will take action under the leading of store manager.

VI. Action Programs:

The company decide to launch Absolue L’extrait in July 4th, 2012. Following are summaries of the action programs we will implement in six next months since this June 4th, 2012 to achieve our stated objectives.

June. Pre-launch action month: From June 4th, 2012. The campaign will officially begin in all 6 Lancôme stores in Parkson’s malls. The Vietnam L’oreal company will send representatives to each one to help decorating with the image of Absolue L’extrait appearing in the stores. The leaflets are going to be placed in cash desk. These actions are to be implemented early in order to attract the customers ‘curiosity. We also want to initiate the method “try before you buy” to our customers, therefore, the samples will be sent to V.I.P and customers with above 3 million product bill until the end of June.

Counter salespeople need to gather customer information and follow up with the each customer 3 days after the sample was given to insure effectiveness. Moreover, our training staff will work with sales personnel at 6 shops to explain superior features as well as advantages of the cream. On Facebook, we will set July 4th as important event and provide the product’s information. We plan to write an article introducing new anti-aging cream of Lancôme -Absolue L’extrait and publish it on double page spread of Elle, Her World and Heritage Fashion with detailed information.Every LCD screens in each Parkson department stores will run video of Absolue L’extrait.

July. Launch month: The program of handing samples need to be ended.The product will be put at an eye catching position in the stores and the Absolue L’extrait banner must be placed in front of each shop in order to attract customers passing by. The salespeople will begin to contact to their loyal customers through phone, e-mail or a close conversation. They will try to remind consumers entering store about the appearance of the product. Advertisement will be put in the fourth cover in Elle and Her World magazine. On the main page of Elle’s website, the product’s banner will appear once people access and lead them to our Facebook page.

August. The company will register to do marketing in Heritage Fashion magazine with the same position as in those 2 magazines to target business women who usually get flights and V.I.P of Vietnam Airline that usually receive this magazine.

September. In this month, because the Heritage Fashion will not be published, we will continue with August strategy. The comments of customers after using Absolue L’extrait will be posted on the Facebook.

October. Salespeople continue to ensure the efficiency of the product by contacting with their customers. Advertisement on magazines still goes on following to the schedule and with publication of Heritage Fashion in this month.

November. Advertisement campaign will continue as September. The results of customer satisfaction surveys and feedbacks will be analyzed carefully. We will begin to collect the reply from the customers and readers of 3 magazines about the campaign to get improvement for the next marketing activities.

VII. Budget ( in one year from 7/2012 to 7/2013 )

By setting objective aimed at unit sale per year is 10,000, total first year sales revenue for Lancôme in Vietnam is projected at $3.5 million, with a selling price of $350 per unit (without VAT), and variable cost of $300 per unit (the cost included importing tax ). The first year profit are anticipated approximately $237,400. Break-even calculation indicates that Lancôme’s Absolue L’Extrait Cream will become profitable after the sale volume exceeds 5,252 units in this year. The break even analysis of Lancôme’s Absolue L’Extrait Cream assumes that revenue in this year is $3.5 million, variable cost per unit is $300, and the estimated fixed costs is $262,600. Based on these assumptions, the break-even sale volume is:

$262,600÷$350-$300=5,252 units

Breakeven sales: 5,252 ×$350 =$1,838,200

Note :
• Total Fix cost = $262,600
+Cost for rent and freight cost: $35,000
+Advertising: $90,200
+Direct Marketing: $42,000
+Sale promotion: $61,800
+Personal selling: $33,600
• Variable cost: $300 per unit (included import tax)
• Selling Price: $350 per unit (not included VAT)

VIII. Controls

Through this marketing plan, our corporate goals have been projected and our methods for achieving these goals have been defined. To guarantee success, the company needs to re-evaluate the progress towards these goals in each quarter to determine if our marketing plan is working properly and profitably. If it appears that we are not meeting our goals each quarter, we will need to analyze our marketing plan and make adjustments.

Source

Background information and market data adapted from:

http://stylist.vn/tin-tuc-lam-dep/lancome-sap-sua-ra-mat-dong-kem-duong-ky-dieu.html http://www.phunuonline.com.vn/thoitrang-lamdep/2009/Pages/Lancome-ky-niem-3-nam-hien-dien-tai-Viet-Nam.aspx http://www2.lancome.com/_en/_ww/index.aspx

http://www.parkson.com.vn/vi/taxonomy/term/20 http://duhoc.dantri.com.vn/c23/s156-62983/estee-lauder-muon-chinh-phuc-viet-nam.htm http://www.esteelauder.com.vn/?q=website_admin%2Fevents&menu=316|339| http://www.ytuong.com.vn/?module=detail&pid=3&id=253 http://www.lantabrand.com/cat3news3023.html http://www.clinique.vn/?q=website_admin%2Fnode%2F14%2F&menu=133


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