Guest Lecture by Jochen Zaumseil in ‘Marketing 1’
On 18 January 2016 a guest lecture was delivered as part of the Marketing I course. The students in the well-filled lecture theatre (H1) were treated to a special look behind the scenes of an international cosmetics manufacturing company. Jochen Zaumseil, L'Oréal's executive vice-president for Western Europe, painted a vivid picture of the challenges faced by a cosmetics manufacturer in a world where market conditions and customer demands are changing at an ever increasing pace. L'Oréal's strategists are banking on three major trends.
Trend 1: From Globalisation to Segmentation
This strategy takes account of the fact that men and women have different cosmetic needs in different parts of the world. It is of vital importance to obtain precise information about consumers' needs and wishes in various markets, and it is equally important to know something about the individual consumer's path to purchase. As the markets are very fragmented. l'Oréal banks heavily on brand acquisition as a means of achieving growth. The company also seeks to achieve synergy effects and integrate new brands successfully into the company.
Trend 2: From Digitalisation to Personalisation
Digitalisation requires a fundamental restructuring of the company as well as a closer cross-linkage of all the internal sectors. Jochen Zaumseil stresses the importance of dismantling isolated units within the enterprise and ensuring that departments exchange information consistently and co-operate as a matter of routine.
E-commerce, which is of strategic importance in every country in the world, is becoming increasingly important for L'Oréal. In order to take account of this trend and target consumers in a more individual and more purposeful manner, L'Oréal uses consistent digitalisation and content marketing (including the ‘Make-up genius’ application).
Trend 3: From Responsibility to Positive Effect
Jochen Zaumseil rounded off his lecture by presenting the ‘Sharing Beauty with All’ programme which he claims will enable the cosmetics manufacturer to meet its obligations in respect of sustainability along the entire value-added chain by the year 2020.
L'Oréal distinguishes four areas of activity: sustainable innovation, sustainable production, sustainable living, and sustainable development. By 2020 all the firm's new products are to offer ecological or social advantages.
The success of the lecture was demonstrated by the fact that the feedback from the students was entirely positive. Jochen Zaumseil was also enthusiastic:
Biographical Details
Jochen Zaumseil speaks four languages fluently. He holds a diploma in business management from the University of Cologne as well as a diploma in international management from the École des Hautes Études Commerciales in Paris. Since 1983 he has been working for L'Oréal, where he has occupied a variety of posts ranging from general manager and president to CEO and managing director. In these capacities he has worked in France, Austria, Mexico, Germany, Venezuela, Canada and Asia. In July 2013 he was appointed executive vice-president for Western Europe.