It is an amazing story to read how a small upstart known as EOS lip balm managed to brave the intense waves of beauty product competition to upstage a seasoned company like Chapstick. The founders of the new kid on the block have not been sleeping on their laurels; rather, they devoted a lot of time and money to study the dynamics of the beauty industry. Their effort did not go to waste because through an accurate interpretation of the market forces they have successfully employed a mixer of packaging, appeal, a variety of flavors, and market positioning to compete with well-established vendors of beauty products. More of this EOS on frenchtribune.com.
Although they have been in the business for not more than seven years, presently the company is ranked among the high-performers in the beauty niches. The entrance of EOS Balm into the market has unsettled the comfortable dominance that Chapstick has enjoyed for a long time. The winning strategy that the company has successfully used is to identify the missing element in the distribution of beauty products and fill up the gap with an innovative product.
All the goods made by the company are natural and organic in nature. Instead of focusing on the product distribution, the owners of the company decided to place emphasis on the values and ideals that the firm represents. The unique selling proposition they evolved was the manufacture of a product that is different from everything else in the market. To be noticed in the beauty aisles they targeted celebrities and fashion-mongers.
The strategy wasn’t in vain because EOS lip balm soon found its ways into the compact beauty packages of stars. The customer segments which the product mainly targeted were women who are known to use lip balms of various kinds frequently; however, the product is made to suit the tastes of both sexes. The balm is competitively priced, and it has different flavors that appeal to all the five human senses of sight, touch, taste, smell, and hearing. For more of EOS, watch this video!