P&G started with an ample frequency of 40 ads per consumer over 8 weeks this was way too past the point making it expensive, however it was very effective and then the next step they took was to make the brand efficient and they cut the frequency down and entered online there by making a tremendous impact on its sales. A new anti-aging breakthrough that’s potent, proven, and professional.”, “The face of anti-aging will forever be redefined. These awards prove that the brand has made a significant impact on the consumers mindsets and has established a very strong brand loyalty, and also its Brand Image as an unbeatable market leader in the skincare industry in the anti ageing cosmetic sector. The promotional and advertising strategy in the Olay marketing strategy is as follows: Olay followed a unique kind of promotion strategy. Free resources to assist you with your university studies! You can rest assured that OLAY.com is operating responsibly to provide service to all customers across the US as quickly and safely as possible. Target Audience cont. They carry on advertisements through various mediums inclusive of print media and tv ads. The result? Marketing strategy helps companies achieve business goals & objectives, and marketing mix (4Ps) is the widely used framework to define the strategies. According to the source brand value mainly on the financial performance and the brand market performance and olay has very efficiently balanced both its financial and the brand’s market performance. Olay carries out extensive TV advertisements to reach the customer. Since then Olay have always come up with unique kind of taglines to appeal the youth. Nonetheless, this is a skin care line specifically geared toward anti aging prevention in women. However, year-on-year sales were down by 11% in the 12 months to July 2005, and in this year’s Readers’ Digest Most Trusted Brands survey, Nivea knocked Olay off top spot being one amongst its tough competitor (bowery). Women of this age have a greater disposable income and will buy premium products, even if using mass-market brands for their daily skincare. The main ingredients of Olay are pentacide peptides that helps in reduction of wrinkles and make the skin look younger ,because of its miracle treatment success the consumers are quite satisfied with its results thereby making them buy the product again and again. You’ll see skin that’s smooth, matte and shine-free. Olay's target market is women of all ages. They have been focussing to fulfil all the skin care neds of the people irrespective of their age and skin type. More flawless.”, “Olay Regenerist, formulated with the exclusive Olay Amino-Peptide Complex, beautifully regenerates skin’s appearance, without irritation, by renewing its outer layer one cell at a time. Our academic experts are ready and waiting to assist with any writing project you may have. Some of the issues found in Olay ingredients are that there are no results from the clinical trials which they had posted for any of the product lines in their website. as their brand ambassador which again attracts youth easily. This is closely related to P&G’s desire to re-position the brand for high-end market customers. With regular use, skin stays hydrated, supple and radiant – even if you skip a day.”, “Olay’s moisture-rich shower products will take your shower to a whole new level with luxurious moisturizers and skin-loving cleansers. mixture of chemical generally used to enhance the appearance or odor of the human body. In fact, January this year saw the launch of Olay Essentials … http://www.cambridge-design.co.uk/wp-content/uploads/pdf/ProductSystems.pdf, http://www.beautyandaging.com/oil-of-olay-review. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. This element of the marketing mix identifies the organizational outputs that are offered to target customers or buyers. They have been successful in increasing fairness and reducing the dark spots. It is a personal-care brand associated with FMCG sector. Nivea has always made their products with the view to mass market it with different offerings for a different set of buyers and making i… Streamlining efforts to focus the business on the most profitable product lines have also corresponded to changes in … Body Care Category. From quick, convenient cloths to double-sided discs to powerful scrubs, masks and more, Daily Facials has a cleansing product perfect for you.”, “Life can be stressful, but it doesn’t have to get under your skin. The fact that Pro-X is an extension, not a new brand, makes it much easier for distributors and retailers to agree on distributing and selling it as they don’t need to worry about potentially risky aspects, e.g. There’s one that’s just right for every skin type. Cosmetics Market (makeup or beauty products) are . This means that they’re a step above many of the other well known brands in the market However, with the name change there has also come a change in its target audience, especially in more recent years. Olay is a skin care line previously Oil of Olay. Disclaimer: This work has been submitted by a university student. Shop for olay skin care products online at Target. They have widely spread distribution network. Covergirl deals in a wide gamut of cosmetics such as foundations, concealers, blushes, and lotions for face makeup, eyeshadows, eyeliners, kohl pencils, and mascara for … A high demand made to the product as Oil of Olay made remarkable to success in the South African market. Olay is Britain’s bestselling skincare product, according to Marketing’s Biggest Brands survey. For a better and younger look they are willing to try new products. In this case, Procter & Gamble’s products are classified as consumer goods. source: http://www.brandextension.org/benefits.html. Survey of 100,000 people by TNS. There are significant benefits to a successful brand extension: “Identify logical new product possibilities”, “Capitalize on the paid-for equity in established brand names”, “Enable a company to enter new categories at significantly lower cost”, “Reduce the risk of failure given the already established awareness and trust”, “Create a positive synergistic effect with the efficiencies of umbrella branding and advertising”, “Reinforce the consumers perceptions of the parent brand name”, “Bring news to existing brands when there is otherwise nothing new to say about them”. One of the main drawback of Olay is that its priced very high because of which not many customers buy the product as a result of which olay looses its customers to its competitors like Garnier, L’oreal and others who are priced according to the mass market consumers. The brands range from high end to low end, respectively, to reach different demographics. (Marketing Week, 30.10.08). Olay have been successful in maintaining the image and the price because off the quality of the product. If it did, then how can the marketer achieve sales in the most cost efficient manner and it included the best frequency, targeting and other dynamics. STAS encourages brand loyalty increasing the basket spends, as it is powerful sales tool providing the customers along with graphical demonstration of the science that backed the range of Olay. Covergirl Simply Ageless The target audience for the current Simply Ageless campaign is probably middle class women ages 40-65. No streaks. which have helped the brand grow. The entrepreneurial and innovative chemist Graham wulff, from South Africa, in the early 1950s developed the formula for Olay. CONCLUSION/RECOMMENDATIONS: BHAI PLZ HELP OUT WITH THIS UNTIL THEN I WILL FIGURE OUT THE REFERENCESâ€¦ OK MERE BHAI .. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! * It works by resignaling your skin to repair the moisture barrier and boost the surface-cell turnover rate. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Below is the pricing strategy in Olay marketing strategy: Olay basically targets the higher middle class people and are price a little higher than other brands. Looking for a flexible role? 1) EXECUTIVE SUMMARY Olay is the top facial skin care retail brand in the world and is one of Procter & Gamble (P&G)’s multi-billion dollar brands. Magazines, newspapers and hoardings all are used for the promotion activities. Formulated with Carob fruit extract and Amino-peptide complex, it hydrates skin to make it regain it's youthful look. Later they decided to include the sun protection factors to improve the product. Olay has a wide variety of products in its marketing mix. Olay is a 66-year-old global skin care products brand within Procter and Gamble’s (P&G) $65 billion-dollar product portfolio. The product is well perceived amongst the people so they are ready to buy it even for a higher price. Olay had come up with the anti-ageing products to target a new segment in the market. The odds are that you have heard of Olay before because it is so well known as a big name brand. Better Homes and Gardens’ “Best New Product Award” goes to.. Olay Definity Color Recapture for “Best New Anti-Aging Product” and “Best New Product Overall” in a survey among 50,000 consumers, (January,2009), Consumer Survey of Product Innovation gave their “Product of the, Year Award” to… Olay Body Wash plus Spa Exfoliating Ribbons Winner. Olay does have free samples on their websites, which does allow users to try out their products without any obligation to them initially, making it an attractive offer. If you need assistance with writing your essay, our professional essay writing service is here to help! Olay has a spread widely all over by installing kiosk’s in malls and retail stores through out and had achieved a large number of customers who are quite happy with the positive results of the product. It is a safe, trusted and comfortable brand. The various products under the brand are Complete, Total Effects, Prox, Fresh effects, Body, White Radiance, Regenerist, Regenerist luminous etc. In effect, brand extensions allow a company to capitalize on the “previously paid for” recognition, reputation and leverageable equity of its brand names. The procedure of extending a brand also has other potential benefits. (25 yrs &above) Target audience ranges from Target audience from rural middle class to urban general upper and middle lower income group. ... Globally P&G’s personal care market is around $20 billion, of which $2 billion is contributed by Olay Target Consumer Middle aged socially active Indian women looking for one product that will help her stay young and beautiful. Hershey could not have efficiently entered the peanut butter category without the Reese’s brand. In next followed twenty years, graham along with his business partner Mr. Jack Lowe, put up the company that they both shaped to market Olay hooked on successful international organization with a 10 million dollar turnover a year. We’re committed to doing our part to help stop the spread of COVID-19. Go beyond lines and wrinkles. economic classes. There has been a shift over the years from older consumers to younger consumers, although older consumers are still the most prominent. … The names and other brand information used in the Marketing Mix section are properties of their respective companies. These were written in Readers Digest and also newspapers which often gave a look of editorials. A look that’s highly defined. Covergirl is an American brand of cosmetics sold by Procter & Gamble. The Olay brand also includes soap, cleansers, night creams, and body wash. The result? Cosmetics Industry Overview: Global cosmetics market is expected to garner $429.8 billion by 2022, registering a CAGR of 4.3% during the forecast period 2016-2022. to maintain consumer loyalty and loyalty, the companies in skin care industry adopting the latest technology and making the revolutionary substances to new products. Olay has the strong backing of the parent company P&G and is thus spread all over the world. Younger people are becoming more aware of the importance of skin care and investing in its benefits. Customers’ perceived risk of purchase also becomes lower than in the case of a completely new brand. The anti-ageing brands are driven by constantly changing ingredients, making it hard to build specific benefit loyalty. Olay products are easily available at cosmetic stores, supermarkets, online through ecommerce sites etc. Aimed at the clinical dermatology market created at CDP originally development of technology is STAS. This is not an example of the work produced by our Essay Writing Service. The content on MBA Skool has been created for educational & academic purpose only. Olay mainly targets middle aged women from 25-45 as the product is for reducing wrinkles with the basic concept of looking young and therefore so is the target market, though Olay could have implemented research and developed new age products for younger women to achieve the market share and increase is brand equity, Inspite of very few publics falling into the brand’s target the brand has marked a place … Olay mainly targets middle aged women from 25-45 as the product is for reducing wrinkles with the basic concept of looking young and therefore so is the target market, though Olay could have implemented research and developed new age products for younger women to achieve the market share and increase is brand equity, Inspite of very few publics falling into the brand’s target the brand has marked a place as a global leading skin care product. fTarget market Olay total effects is an anti-ageing cream and P&G aimed the Lower upper and upper middle social class for the product. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Olay’s pricing policy in its marketing mix is also dependent on its close international competitors, which have similar offerings in the similar price bracket. The major challenge for Olay is to target young customers. For example, the brand has been established with a seriously rock-solid reputation as a keen developer of quality skin care products. In November 2008, they launched a range of premium skincare products under its Olay brand. These women are starting to find wrinkles on their skin or are feeling self conscious about the fine lines and wrinkles that come Olay’s Pro X series is simply dermatologist designed, and consists of treatments that are powerful enough to stand a step above creams, oils, and other Olay formulas. MBA Skool is a Knowledge Resource for Management Students & Professionals. Quizzes test your expertise in business and Skill tests evaluate your management traits. They have always created an image focussing on “helping women become beautiful”. Breakthrough Olay Whip moisturizers deliver powerful skincare with a light as air finish. The extremely effective style advertisements proved by the ‘reader’. Many companies could make a cola, but only Coca-Cola owns that brand. This article elaborates the product, pricing, advertising & distribution strategies used by Olay. (according to SHIRIN VALIPOUR GLOBAL BUSINESS DIRECTOR, JWT), source: http://www.market-intelligence.com.au/images/brand.png. Instagram influencers raise awareness of Olay’s cause marketing movement by weaving its products into their daily skincare routines for a 28-day challenge. In 1985 Procter & Gamble acquired the Oil of Olay making Oil of Oaly from strength to strength. They actually strengthen the skin’s natural moisture barrier to prevent dry skin over time, thus breaking the cycle of dry skin. Olay has innovated many product lines in the skin care segment to reach a different and a large variety of consumers world wide who have their own set of needs, and most importantly Olay is a very long established company under Procter & Gamble’s hood which is one of the largest companies and globally dominating. Olay, still the leader in mass-market anti-aging skincare, is bringing out the white-coated scientists for its latest product launch. It was hard be convinced of the credibility of these type of claims when more details were not provided with the result that each person had using the skin care line. However it retains the name Olaz in a handful of European markets including Germany, France, the Netherlands and Austria. Olay ‘s ads are approachable and real. This product line has a lot of money that has gone into it, but they are still lacking the conclusive information necessary with the support of clinical evidence to show what their products really have to offer. Olay undoubtedly has done a marvelous job of building on its heritage of skincare for its major&core target – the older women. Skin care awareness and consciousness are some of the driving forces behind the booming industry. According to P&G spokesman, “Pro-X is aimed at customers who are more likely to buy mid- to premium-range skincare products from department stores”. Guaranteed. It originated in south Africa and has spread worldwide by now. Shower your body in skin-loving cleansers and moisturizers from Olay today.”, “A moisturizer with a touch of sunless tanner, Olay Touch of Sun gives your skin a radiant, sun-kissed glow. The trust by the women over fifty years made Olay as the world wide leader in skin care products. Women are spending more money to get a good look. As he was a productive inventor, he set up a laboratory at his home, at his home he used to develop products at his free time. The Olay Pro-X range is aiming at mass market but is being marketed as a luxury product at the same time. The introduction of Skin Tone Analysis System (STAS) by P&G’s Olay brand in selected stores enables Olay beauty consultants with a proper training to analyze customer’s skin type as well as perform consultations to suggest the best product to meet their needs. The weightless formula immediately leaves skin feeling soft & smooth with a matte finish. Free shipping on orders of $35+ or same-day pick-up in store. Products like Body and White radiance were basically launched in America and Asia respectively. Here at OLAY we are committed to the health and safety of our OLAY Tribe, both you and our employees. VAT Registration No: 842417633. COMPARISON 1.Pricing factors OLAY Fair and Lovely Garnier Targets elite urban upper class women of the affluent category. In that year, Olay Regenerist Micro Sculpting was the leading anti-aging facial brand in the United States with sales that accounted for 8.7 percent. P&G standardised the Olay range at the end of the 1990s, dropping most regional name variants, such as Ulay. Registered Data Controller No: Z1821391. And also the unavailiabilty of personal testimonies makes it difficult to believe all the claims of their products because the reviews given on them did not have names or pictures. Olay has emerged as market leader in many countries like UK, China, USA. Proven effective in fighting multiple signs of aging, this exclusive combination helps rejuvenate and beautify your skin while improving the condition of the skin’s moisture barrier.”, “Olay Complete moisturizers give your skin all-day moisture, vitamins and UVA/UVB protection in a lightweight formula for healthy skin every day. Another problem that occurred was that customers are not able to directly purchase Olay through Olay.com, making them have to go to another source. When done correctly, they also reinforce the properties of the existing parent product through synergy and bring news to the brand. The company of choice is BMW and its medium-size car BMW 3 series offered to a broad consumer market.When undertaking market segmentation, BMW does research on the geographic, … (18-35 yrs) Considered to be premium Skincare brand Does not claimed itself to be Not a premium brand a … Olay has received quite some awards stating its Brand loyalty,Brand image among which some of the latest award’s are.. Glamour Magazine gave their “Glammy Award” to…Olay Regenerist Eye Lifting Serum, for Best Drugstore Eye Cream,(September, 2009). The brand is being positioned the favorite soap of Film stars has been consistent in terms of communication and positioning. Segmentation and Target Market Paper Student’s Name: Institution: Segmentation and Target Market Paper This paper explores the segmentation, target market and product positioning of a company. Olay Total Effects Positioning Prevents aging as well as makes one look younger than her age. Choose from contactless Same Day Delivery, Drive Up and more. It is never too early to start taking care of your skin. The target population for the product is women of age Olay's most aggressive competitor since the mid-1990s has been Unilever's Dove. New Olay Definity transforms the look of brown spots, dullness and uneven skin tone. Target market of Lux is the age group between 16-40 and urban and semi urban areas. Olay is one of the most selling brand of Procter & Gamble. Luminous. Browse 4Ps Analysis of more brands and companies similar to Olay Marketing Mix. For a wide assortment of Olay visit Target.com today. In order for Olay to stand out to the target market, ongoing promotions and road shows during Olay’s campaign period would create a stronger existence of Olay as a brand. When Mr. Wulff functioning for the Industrial Development Corporation (IDC) in South Africa in the early 1950’s. You can view samples of our professional work here. Olay have been successful in coming up with new products to meet the market demands. Our brand extension study for Reese’s identified peanut butter as a logical brand extension. Customer groups on the basis of gender (Men/ Women) and age (Baby/ Millennial) has been defined by the company to offer them products as per the life stage to which they belong to. PRODUCT BENEFIT Renews skin’s surface layers for smooth texture and refined pores. As of 2020, there are several marketing strategies like product/service innovation, marketing investment, customer experience etc. It has been reviewed & published by the MBA Skool Team. The brilliant advertising and marketing intuition of Mr. Jack Lowe’s has invented the first name as Oil of Olay, designed the label and wrote on the pack copy. (January, 2009). This ensure an extensive geographic reach for the brand Olay. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Philippine Market for Cosmetics. With over 400,000 users submitting their receipts through our suite of mobile apps, we help you better understand consumer behavior across all channels. Olay Market Segmentation MARKET SEGMENTATION Marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target their needs and desires using media channels and other touch-points that best allow to reach them. Let us start the Olay Marketing Mix & Strategy: The product strategy and mix in Olay marketing strategy can be explained as follows: Olay is a global brand providing the beauty products. 1st Jan 1970 Oil of Olay is currently referred to as Olay. In 2006 Olay was launched in Philippines and 2007 in India. The main ingredients of the product include glycerine, vitamin B3, broad spectrum sunscreen, vitamin A derivative etc. They have been successful in increasing fairness and reducing the dark spots. Olay’s products never depicted what the products did but instead carried taglines attracting the youth like “Discover The Youth in You” etc. Here is Marketing mix of Olay shows how it was introduced in the consumer market in the year 1952 by its founder Graham Wulff and product was sold under his company Adams National Industries or ANI. In India, Olay has actress like Katrina Kaif, Kajol, Madhuri Dixit etc. Olay Clarity is the first line of Olay cleansers with a dual-hydroxy formula to actually help your skin resist blemishes aggravated by stress and hormones, day after stressful day.”, “Olay Body Lotion products don’t just moisturize. Whips are made with Active Rush Technology that transforms from cream to liquid on skin for instant absorption. The table below lists the SWOT (Strengths, Weaknesses, Opportunities, Threats), top Olay Natural White competitors and includes Olay Natural White target market, segmentation, positioning & Unique Selling Proposition (USP). Shop Target for Olay. The “Fearless 9” females lead Olay’s #FaceAnything campaign with empowering messages to invite other women to embrace their true beauty. Skin care products consumption grew over the years of the review period. No sun required.”, Source: www.docstoc.com/docs/14719894/Oil-Of-Olay-Products. Olay have also entered sponsorship programmes to reach out to people. As of 2020, Olay Natural White is one of the leading brands in the FMCG sector. It is not uncommon to find sales of the parent product rising after the launch of a successful brand extension. P&G first did a research if the online marketing would benfeit the brand and wether if it will influence the minds of the customers as they wondered that wether the payback is better than the other media choices in terms of influencing sales, they then focussed on “effectiveness” and have come up with a strategy as ., does online advertising affect sales? Marketing Mix of Olay analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Olay marketing strategy. Examples of this include Procter & Gamble’s Olay skincare line.Olay on itself is a great example of a brand which recognized a need for multi-branding, which let them avoid one brand cannibalizing the market share of another as well as reserved more valuable space on stores shelves for their products. The companies are not associated with MBA Skool in any way. He determined to formulate a product which extensively cares for skin, as his attention turned to skin care. Lux has been segmented on the basis of demographic factors like, age, lifestyle etc. A Marketing Research on Olay. Life & Style Magazine gave their “Beauty Award” to… Olay Definity Eye Illuminator , for Best Eye Cream, (August, 2009). Olay Regenerist Micro-Sculpting Cream is Olay's most advanced and award-winning best selling Regenerist anti-ageing cream. The income group to which the offerings will be suitable will be the upper middle and middle-income social class. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Olay Marketing Plan 4888 Words | 20 Pages. No plagiarism, guaranteed! Do you have a 2:1 degree or higher? These are some of the most popular beauty products from the house of Olay. The Marketing Mix section covers 4Ps and 7Ps of more than 800 brands in 2 categories. We're here to answer any questions you have about our services. It has majorly tried to come up with moisturiser to stay looking young. Study for free with our range of university lectures! Olay, a long-time skin care brand, is attempting to disrupt the cosmetics model with a unique marketing approach that brings the power of artificial intelligence (AI) to skin consultation. The Olay brand of well known skincare product lines, is known for a few different things in the personal care products community. Olay basically targets the higher middle class people and are price a little higher than other brands. The improved number of working women equates the women spending more money to spend more on their skin care, skin care become one of the favorite path for expenditure. Reduces lines and wrinkles with moisturisation. Company Registration No: 4964706. IE-IMBA-EMURY. Olay would do better to potentially focus on more powerful active ingredients in their skin care line to attract users. As a consumer goods company P&G had global, on the ground presence in about 150 countries, more than 300 brands manufacturing, distribution and selling acclivities going on day to day basis. Olay is spread in counties like Netherlands, Belgium, Germany, USA, Spain, France, Italy, UK, Ireland etc. This is the SWOT analysis of Covergirl. They make everything from anti-wrinkle skincare to anti-acne care. P&G compete a wide collection of categories ranging from baby care, household care, fabric care, beauty care, food and food care, per care and as well as health care. Hence, all these cover the marketing mix of Olay. This article has been researched & authored by the Content & Research Team. Also personal messages were written to the reader by a fictitious advice columnist Margaret Merrill. Marketing Jack wrote the advertising copy to the magazines and newspapers as tips and beauty hints with suggestions on how to use the product. The Pro-X series is yet another additional line in ‘Olay’s family’ and it benefits from the fact that the awareness of core brand can reduce costs. Olay majorly targets the young and middle aged women globally. The result is skin that looks, feels and behaves more like new skin.”, “The key to the success of Total Effects is its exclusive VitaNiacin formula. It is the world’s number one facial care brand in the past four years (2006-2009) based on Euromonitor data. Shop Target for Olay Skin Care you will love at great low prices. With the prohibitive cost of establishing new brands (just ask ex dot-coms), brand extensions save companies money. Choose from contactless Same Day Delivery, Drive Up and more. Following is the distribution strategy of Olay: Olay started in South Africa and now the brand has spread worldwide and widely accepted. For a wide assortment of Olay making Oil of Olay we are committed to our. Their brand ambassador which again attracts youth easily rest assured that OLAY.com is operating to. Lux has been submitted by a university student in many countries like UK, Ireland.. Ensure an extensive geographic reach for the current Simply Ageless the target audience for the brand.... Has a wide variety of products in its marketing mix section covers 4Ps and 7Ps of more 800... 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