It isn’t often that an company is able to quickly establish themselves as a major player in an industry. EOS was able to do just that in the lip balm market quickly due to several trends in the industry that many of the different players in the industry didn’t understand.
Industry behemoths like Pfizer’s Chapstick hadn’t changed their lip balms for almost a century and relied on price cuts to steal market share from their competitors. They were not innovating or changing their products or ingredients despite the changing tastes of customers that were seen in many different industries. The food industry, for example, saw customers increasingly pursuing foods that were all-natural and organically sourced. EOS lip balm saw that these same market forces applied to the lip balm market and decided to create a lip balm that had these unique characteristics.
To do so, EOS lip balm created a premium product that was based in higher quality oils that weren’t commonly available in the industry which offered petroleum jelly ingredients. EOS focused on ingredients like coconut oil and shea butter in their lip balm. While the product commanded a premium price, it wasn’t out of reach of their customers’ budget and the company was able to develop a larger market share as a result.
EOS then marketed themselves with a great orb applicator that was sanitary and easy to apply in a thick luscious coat. These orbs were a major part of the marketing campaign for the brand and customers were instantly attracted to the unique case which became stylish. Major retailers such as Target, Walmart and Costco signed up with EOS and began distributing their products to customers.
These steps allowed EOS (https://evolutionofsmooth.ca/) to become a major player in the lip balm market and they have now spread into different market in the personal care industry. The success of EOS has been long running and part of their strategy of building a lasting place in theri customers pocketbooks.