The Estee Lauder - Company Research Report - Academic Assignment - Top Grade Papers

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THE ESTEE LAUDER COMPANIES, INC.

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COMPANY RESEARCH REPORT

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Table of contents

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 Introduction  Industry  Company

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 Customer

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 Collaborators

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 Career

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 How to market yourself?

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 How to prepare informational interview?

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 Appendix

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 Bibliography

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 Competitors

Introduction

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Estée Lauder is a luxurious brand of beauty products, which includes cosmetics, skin care, hair care and fragrance. It primarily target female with its diverse product portfolio but it also has separate product line for men. It is one of the oldest and leading

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brands, which offer its product around the globe. The original brand was founded by Estee and Joseph Lauder in New York, which translated itself in to a cosmetic giant over the successful yearsi. Industry

There are several multinational operating in the cosmetic and beauty industry of

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U.S. L’Oreal is among the oldest and largest company while Estée Lauder is one of the leading manufacturers and marketers of quality skin care, makeup, and fragrance and hair

care productsii. Procter & Gamble also claim good proportion of share in the cosmetic

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market. The cosmetic market is very diverse market with products ranges from low to high price catering both low-end and high-end consumers. L’Oreal, Olay and Neutrogena are catering low-end, though; these brands also offer premium products which cater high end consumers. The high end of the market is mostly catered by Estée Lauder which also catered middle end marketiii.

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The current events in this industry are associated with the opening of beauty spa and celebrity endorsement of the particular brand, which makes it exclusive. In cosmetic industry, there are many creative job opportunities. The job

opportunities ranges from creative jobs to management jobs including beauty consultants, marketing managers, human resource managers, finance manager etc.

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Company

The company is founded in 1946 with only four products i.e. super rich cream,

creme pack, cleansing oil and skin lotion. Now, it is comprised of 29 diverse brands, which are available in over 140 countries around the globeiv. The company is a global enterprise that is now $7.3 billion in annual net sales

(2009) and net earnings from continuing operations are $218 millionv. Estée Lauder is one of the leading manufacturers and marketers of quality skin care, makeup, and fragrance and hair care products. They have approximately 32,000 full-time employees who are working for the success of this companyvi.

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The corporate offices are located in New York City. Their manufacturing facilities located in New York, New Jersey, Pennsylvania and Minnesota, in addition to manufacturing plants in the United Kingdom, Belgium, Switzerland, Canada and

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Francevii. The

workplace culture of the company encourage a spirit of teamwork,

innovation, passion and a shared vision to bring the best to everyone in the target market.

The values and standards that Estée Lauder Companies and its people hold today are the

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same ones upon which Mrs. Lauder founded this Company over 60 years ago. The culture of quality, style and unsurpassed customer service has made the company global cosmetics leaderviii.

The company promotes a relationship leadership style as the owner loved to

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interact and advise the customers. The leadership style of founder is very inspiring, and enables the company to win great respect both within and outside industry. In continuation of its strategic moves, now, the company products touch half a billion people around the world.

The company’s mission is “Bringing the Best to Everyone We Touch.” With this

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management philosophy, the company is moving on the ladder of success. The company is in control of Lauder family, who is having about 70% of voting shareix. The Estée Lauder Companies Inc. is equal opportunity employer and believes in

attracting best talent in the industry. It offers a wide range of corporate and brand positions in the United States and globally. The requirements of new hires vary from

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department to department. Every new job has specific job description according to job nature and tasks. The company has jobs in administration, business development, procurement, demand planning and forecasting, finance, marketing, sales, IT, package development purchasing, public relation, and store/ retail. Customer

The customers of the company are those women and men who value beauty in

their lives. The company was first women cosmetic company; until it started offering men product line in 1976. The target market is heavily comprised of women from around the globe. The major product lines of the company aim to cater the emerging beauty and style needs of women and menx.

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The customers of this company are very satisfied which is reflected by its high brand loyalty and retention rate. The company produces every brand in accordance with need of its target market and translates it to customer convenience and satisfaction.

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The company offers four major product line (refer to exhibit 2) and has 29 brands within its product line.

There are many factors, which compel the customer to buy from this company. These are company understanding of customer needs, ability of providing creative and

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new products, reliable and skin caring products and exclusive consumer care services. Competition

The main competitors of Estée Lauder are L’oreal, Coty Inc, and Procter & Gamblexi. In cosmetic industry, the barriers to entry are low so there are many new

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entrants in this market, which can give strong competition to Estée Lauder with their technology advancements. The competition varies by location as in different markets the size of target customers and the presence of competitors vary. The market sharexii of Estée Lauder is 46% in its home market. The Estée Lauder companies differentiate itself by offering diverse portfolio of brands, which caters every

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beauty and style need of its customers. The wide distribution network and its online services are of key competitive advantage for the company. The creative and diverse product range differentiated the company from rest of its competitors. Collaborators

The modern technology has made it easier for company to reach its consumer

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efficiently and conveniently. The company has wide distribution network, which is serving multiple markets around the globe. The company sells its products through distribution channels to compliment the

images associated with its brands. These channels consist primarily of upscale department stores, specialty retailers, upscale perfumeries and pharmacies, as well as freestanding company stores and spas, stores on cruise ships, in-flight and duty free shops in airports and cities, and the Internet. With the acquisitions of Aveda, the company entered a new channel of distribution: professional hair salons1.

1 nyjobsource.com/esteelauder.html

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Career The Estee Lauder Company believes in attracting best talent around the globe. It offers a wide range of corporate and brand positions in the United States and globally.

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The company also believes in the career development of its employees. The company has various departments, which includes sales, marketing, communications, product development, research, manufacturing, quality assurance, legal, information systems,

finance and office services. Every department has different type of job opportunity for the

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people who graduate or hold degree in respective subjects. One can apply online by

dropping resume on the company website under career section. One can also gather the understanding of job by viewing job description and task of every job available on the company website.

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The potential jobxiii in this company for a person with major in accounting can be: Account Executive – Finance Department

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Director Finance – Finance Department

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Executive Business Planning – Demand Planning and Forecasting

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Manager procurement – Indirect Procurement

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The job description of these jobs generally requires a person, who is responsible to drive, build retail sales and market share for the region, while staying within the budgeted guidelines for selling costs.

The general job qualificationxiv for these jobs includes: Strong managerial skills with ability to coach and train.

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Good communication skills.

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Good visual merchandising skills.

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Proven ability to recruit.

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Good planning and organizational skills. Ability to anticipate problems and think

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ahead. 

Enjoy working in highly competitive, fast-paced environment.

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Possess strong knowledge of basic computer skills to include Outlook, Word and Excel.

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How to market yourself to the company? The best way to market oneself to the employer company includes following steps: First of all, one should make up mind that in which department he wants to work,

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as in which career job is best for the candidate. So, the analysis of employer company is necessary to pick the right type of job.

After deciding on the type of job, one should try to network with people/friends

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working in similar job category and ask them about future prospect of this job as it will help the candidate to have good know how of the job and will also be

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helpful in meeting the expectations of interviewer.

The third step would be to prepare a good resume and proof read it once before interview, as it will help to speak up more clearly and precisely during interview. The candidate should not attempt to falsify the resume as it can jeopardize the whole interview and candidate repute.

The candidate should attend mock interview before the interview with potential

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employer, as it will help to remove the weaknesses and enhance the confidence.

How to prepare for an informational interview?

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The informational interview can be prepared by analyzing company, its history,

product offering etc. The above mentioned analysis of company will be helpful in the preparation of informational interview. The employer company is always interested to know how well the potential candidate is eager to explore the company and its products. The more the candidate have knowledge about company, the more it will be helpful for him/her to communicate it clearly with the employer. The informational interviews help to gain the trust of employer which will make the further assessment of candidate easier.

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APPENDIX

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Exhibit 1

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Brands of Company

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Exhibit 2

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Major product line

Hair care

Skin care

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Skin care

Fragnance

Fragnance Hair care

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Make up

Make up

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BIBLIOGRAPHY http://www.elcompanies.com

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http://www.fda.gov/Cosmetics/default.htm

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http://www.researchandmarkets.com/reportinfo.asp?report_id=339745

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http://www.elcompanies.com

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http://www.elcompanies.com/investor_relations/financial_reports/annual_reports. asp

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http://www.elcompanies.com /employees

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http://knowledge.wharton.upenn.edu/index.cfm?fa=viewArticle&id=660

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http://knowledge.wharton.upenn.edu/index.cfm?fa=viewArticle&id=660

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http://www.esteelauder.com/

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http://www.esteelauder.com/

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http://www.answers.com/topic/the-estee-lauder-co

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http://www.elcompanies.com

ii

http://www.fda.gov/Cosmetics/default.htm

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iii

http://www.researchandmarkets.com/reportinfo.asp?report_id=339745

iv

http://www.elcompanies.com

v

http://www.elcompanies.com/investor_relations/financial_reports/annual_reports.asp

vi

http://www.elcompanies.com /employees

vii

http://knowledge.wharton.upenn.edu/index.cfm?fa=viewArticle&id=660