Marketing fundamentals and contemporary practice

Marketing Audit

The following marketing audit will be conducted on Rimmel London, based in the UK. The company was established in 1834 by Eugene Rimmel, a French perfumer. The company produces and commercializes a wide range of cosmetics products that have been developed since the company was established, in order to anticipate the needs of consumers and to adapt to the changing preferences of buyers.

Products

The company produces and commercializes make up products for eyes, nails, lips, face, and body. Each of these lines of products includes numerous items that are intended to address the preferences of users. For example, the eyes make up line consists of several types of mascara: waterproof, adjustable, regular, eye shadow: mousse, powder, metallic, regular, several color combinations, eye liner, eye pencils in numerous colors, and others.

Regarding the quality of the products, it seems that the company is unable to reach high quality standards for all of its products (Rimmel, 2010). In other words, there are products of high quality that satisfy users, and products that consumers are not satisfied with. This customer satisfaction in the case of Rimmel London can be observed on the company's website, in the customer review section. Products like skin foundation and face powders have received great reviews from customers, while certain types of mascara are considered to be completely unacceptable by customers that used them.

Competitors

Rimmel London's main competitors are represented by Maybelline New York and Astor. These companies commercialize similar products to those commercialized by Rimmel, and they provide them in the same price range. Even more, the companies of these products can often be found in the same stores, drug stores, and hypermarkets. Product differentiation in this case can be achieved by different production technologies, and different properties and ingredients of products.

Maybelline positions itself as the most innovative make up producer. The company has strengthened its position on the international market due to the sales force ensured by L'Oreal, who acquired Maybelline. Astor positions itself as a high quality make up producer.

Customers

The main customer segment is represented by women aged between 20 and 35 years old. These customers have a medium income and medium to high education. They have a modern lifestyle, and are interested in the life of celebrities they admire. They are interested in fashion, and in cosmetics products that present new characteristics. They are oriented towards make up products of higher quality, but have an average budget.

Another customer segment addressed by Rimmel London is represented by teenagers that are interested in make up products that provide a satisfactory relationship between price and quality.

Marketing Strategy

The company's marketing strategy is based on providing good quality products at average prices. This is because the customer segments targeted by Rimmel cannot afford to pay high prices for such products, while ensuring that the quality of the products that want to purchase is at least satisfactory. Another strategic option for Rimmel is represented by the wide variety of the company's range of products.