L'Oreal's DIESEL, which is a global, luxury product manufacturer (Fuel for Life, etc.) decided to develop a new product line. DIESEL wants to offer to the market, for the first time ever, a MEN's product line (fragrance excluded, because it already has "Fuel For Life - masculine").
Your task is to search the environment, especially competition and come up with a product line idea. You must also investigate the company to ensure full understanding of its strategic goal and objectives, so that the new product will be within the general framework of DIESEL's target market.
You must conduct marketing research (secondary data) and based on the findings decide on the target group on which the new product line will focus.
Having done this, your task is to come up with a good marketing mix for the product line. The mix must include:
One (1) men's products
Brand name
Packaging
Size of products
Indicative price
Distribution channels, and
Promotion
All the above will be presented in a report. The report must include short explanations of the theories used and justification for the marketing mix you will adopt.
Please visit also the following website:https://www.loreal.com/_en/_ww/index.aspx?
NOTE: Further questions and queries will be answered in class
Indicative allocation of marks:
Presentation and structure of the report: 10%
Environmental analysis : 15%
Marketing mix decisions action : 75%