[Solved] Pricing Strategy L'Oréal uses value pricing to set the prices for... | CliffsNotes (2024)

Pricing Strategy

L'Oréal uses value pricing to set the prices for its products. This means that the prices are based on the product's value rather than the product's cost. The company offers high-end products at premium prices to appeal to its target audience. What budget can be used for Perso, the new loreal device. This 6.5-inch beauty tech device, developed by our Technology Incubator, delivers personalized on-the-spot skincare and cosmetic formulas. By harnessing the power of Artificial Intelligence, the level of personalization will be optimized over time as the system gathers more data about our customer's skin and personal preferences. What is the impact of different pricing strategies for effective new product launch.

Distribution Strategy

L'Oréal has an extensive distribution network, which allows the company to reach a wide range of customers. The company also has a solid commitment to customer service, which helps to differentiate it from its competitors. List where and how the new product will be available with clear and concise explanations for the choice of retail outlets and online mode (if applicable for the product type).

Innovative product

Clear and detailed explanation is provided with clarity on why it is innovative. Explained the Innovative Product The new Perso product.