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. A look that’s highly defined. as their brand ambassador which again attracts youth easily. 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. 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. Younger people are becoming more aware of the importance of skin care and investing in its benefits. Luminous. It is not uncommon to find sales of the parent product rising after the launch of a successful brand extension. 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, … 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 have been successful in maintaining the image and the price because off the quality of the product. “Brands are a constraint to enter into new variants.” Brands (not production capabilities) are the prime barrier to entry into most categories. Cosmetics Market (makeup or beauty products) are . Olay is a skin care line previously Oil of Olay. It is a safe, trusted and comfortable brand. Skin care awareness and consciousness are some of the driving forces behind the booming industry. When Mr. Wulff functioning for the Industrial Development Corporation (IDC) in South Africa in the early 1950’s. One more issue could be the fact that this line targets women specifically who are middle-aged and also some of the main ingredients used have been contentious in the past. 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 … 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. Reduces lines and wrinkles with moisturisation. It is the world’s number one facial care brand in the past four years (2006-2009) based on Euromonitor data. They carry on advertisements through various mediums inclusive of print media and tv ads. New Olay Definity transforms the look of brown spots, dullness and uneven skin tone. MBA Skool is a Knowledge Resource for Management Students & Professionals. Olay is one of the most selling brand of Procter & Gamble. 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. Customers’ perceived risk of purchase also becomes lower than in the case of a completely new brand. Here at OLAY we are committed to the health and safety of our OLAY Tribe, both you and our employees. 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. The income group to which the offerings will be suitable will be the upper middle and middle-income social class. They have widely spread distribution network. Our academic experts are ready and waiting to assist with any writing project you may have. They have always created an image focussing on “helping women become beautiful”. Many companies could make a cola, but only Coca-Cola owns that brand. In India, Olay has actress like Katrina Kaif, Kajol, Madhuri Dixit etc. Olay have been successful in coming up with new products to meet the market demands. 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. 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. Following is the distribution strategy of Olay: Olay started in South Africa and now the brand has spread worldwide and widely accepted. 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. The target population for the product is women of age 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. (18-35 yrs) Considered to be premium Skincare brand Does not claimed itself to be Not a premium brand a … This ensure an extensive geographic reach for the brand Olay. COMPARISON 1.Pricing factors OLAY Fair and Lovely Garnier Targets elite urban upper class women of the affluent category. The brand is being positioned the favorite soap of Film stars has been consistent in terms of communication and positioning. (according to SHIRIN VALIPOUR GLOBAL BUSINESS DIRECTOR, JWT), source: http://www.market-intelligence.com.au/images/brand.png. Streamlining efforts to focus the business on the most profitable product lines have also corresponded to changes in … Disclaimer: This work has been submitted by a university student. Guaranteed. 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. The odds are that you have heard of Olay before because it is so well known as a big name brand. 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. The trust by the women over fifty years made Olay as the world wide leader in skin care products. 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 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. There’s one that’s just right for every skin type. 1st Jan 1970 Olay has offering a multitude of 11 product line, some of them are …, “Olay Professional Pro-X is a scientifically advanced line of skin care that gives you younger-acting, younger-looking skin in 28 days. The main ingredients of the product include glycerine, vitamin B3, broad spectrum sunscreen, vitamin A derivative etc. Olay, still the leader in mass-market anti-aging skincare, is bringing out the white-coated scientists for its latest product launch. Olay Regenerist Whip delivers powerful wrinkle results without heaviness. 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”. In effect, brand extensions allow a company to capitalize on the “previously paid for” recognition, reputation and leverageable equity of its brand names. Olay ‘s ads are approachable and real. It has majorly tried to come up with moisturiser to stay looking young. Olay Total Effects Target Market Middle aged and younger women above 25 years of age of higher middle class. Olay has emerged as market leader in many countries like UK, China, USA. Survey of 100,000 people by TNS. ... but such expertise can be cost prohibitive for Olay’s large and growing middle class target market. P&G standardised the Olay range at the end of the 1990s, dropping most regional name variants, such as Ulay. Olay have been successful in maintaining the image and the price because off the quality of the product. Company Registration No: 4964706. Target market of Lux is the age group between 16-40 and urban and semi urban areas. 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. 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. In November 2008, they launched a range of premium skincare products under its Olay brand. Covergirl Simply Ageless The target audience for the current Simply Ageless campaign is probably middle class women ages 40-65. For example, the brand has been established with a seriously rock-solid reputation as a keen developer of quality skin care products. * It works by resignaling your skin to repair the moisture barrier and boost the surface-cell turnover rate. This includes the use of additives like glycerin, which have been argued will remove moisture from the skin instead of adding it to the complexion. … Hershey could not have efficiently entered the peanut butter category without the Reese’s brand. Choose from contactless Same Day Delivery, Drive Up and more. 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? This is closely related to P&G’s desire to re-position the brand for high-end market customers. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. The Marketing Mix section covers 4Ps and 7Ps of more than 800 brands in 2 categories. Browse 4Ps Analysis of more brands and companies similar to Olay Marketing Mix. Study for free with our range of university lectures! These were written in Readers Digest and also newspapers which often gave a look of editorials. Choose from contactless Same Day Delivery, Drive Up and more. 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. Olay Total Effects SWOT Analysis Olay Total Effects Strengths Below are the Strengths in the SWOT Analysis of Olay Total Effects: 1. Since then Olay have always come up with unique kind of taglines to appeal the youth. Suitable for all skin types, Olay Complete matches your skin’s needs with its formulas for regular, sensitive, combination/oily or extra dry skin.”, “Olay Hydrate & Cleanse dissolves oil, makeup and dirt while a mild surfactant gel matrix helps to sweep away impurities for a clean, rinsed feel. Olay has a wide variety of products in its marketing mix. For a better and younger look they are willing to try new products. 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. The anti-ageing brands are driven by constantly changing ingredients, making it hard to build specific benefit loyalty. 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. 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. This is not an example of the work produced by our Essay Writing Service. Olay majorly targets the young and middle aged women globally. What is Olay? Registered Data Controller No: Z1821391. 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 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. Formulated with Carob fruit extract and Amino-peptide complex, it hydrates skin to make it regain it's youthful look. Also personal messages were written to the reader by a fictitious advice columnist Margaret Merrill. Breakthrough Olay Whip moisturizers deliver powerful skincare with a light as air finish. Then Adams National Industries formed by both the partners Graham and Jack to market Oil of Olay. However it retains the name Olaz in a handful of European markets including Germany, France, the Netherlands and Austria. The Olay Pro-X range is aiming at mass market but is being marketed as a luxury product at the same time. Aimed at the clinical dermatology market created at CDP originally development of technology is STAS. It originated in south Africa and has spread worldwide by now. Marketing As of 2020, Olay Natural White is one of the leading brands in the FMCG sector. A Marketing Research on Olay. As America’s largest purchase panel, we capture 1 in every 500 shopping trips. Skin care products consumption grew over the years of the review period. CONCLUSION/RECOMMENDATIONS: BHAI PLZ HELP OUT WITH THIS UNTIL THEN I WILL FIGURE OUT THE REFERENCES… 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! Formulated with an emollient cleanser and skin hydrators, Olay Hydrate & Cleanse leaves skin feeling and looking beautifully healthy.”, “Daily Facials gently clears away oil, dirt and makeup down to the pores, leaving your skin refreshed, rejuvenated and beautifully clean. Olay has been an established and popular brand so its name will increase the willingness of consumers to try new brands. Shop Target for Olay. Olay basically targets the higher middle class people and are price a little higher than other brands. 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. 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. Nonetheless, this is a skin care line specifically geared toward anti aging prevention in women. Women are spending more money to get a good look. 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. Olay Regenerist Micro-Sculpting Cream is Olay's most advanced and award-winning best selling Regenerist anti-ageing cream. mixture of chemical generally used to enhance the appearance or odor of the human body. 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. Olay Total Effects Positioning Prevents aging as well as makes one look younger than her age. The weightless formula immediately leaves skin feeling soft & smooth with a matte finish. If you need assistance with writing your essay, our professional essay writing service is here to help! 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). (Marketing Week, 30.10.08). Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. The result? economic classes. 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. Olay’s products never depicted what the products did but instead carried taglines attracting the youth like “Discover The Youth in You” etc. Quizzes test your expertise in business and Skill tests evaluate your management traits. 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. For a wide assortment of Olay visit Target.com today. It is a personal-care brand associated with FMCG sector. They have been successful in increasing fairness and reducing the dark spots. These women are starting to find wrinkles on their skin or are feeling self conscious about the fine lines and wrinkles that come Numerator Insights are powered by the InfoScout Omnipanel. Our brand extension study for Reese’s identified peanut butter as a logical brand extension. VAT Registration No: 842417633. Olay have also entered sponsorship programmes to reach out to people. 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”. (January, 2009). The content on MBA Skool has been created for educational & academic purpose only. which have helped the brand grow. With the prohibitive cost of establishing new brands (just ask ex dot-coms), brand extensions save companies money. This element of the marketing mix identifies the organizational outputs that are offered to target customers or buyers. They make everything from anti-wrinkle skincare to anti-acne care. The procedure of extending a brand also has other potential benefits. 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… They have been successful in increasing fairness and reducing the dark spots. He determined to formulate a product which extensively cares for skin, as his attention turned to skin care. As a result, well known existing brand names can be the way for a company to enter a new category that otherwise would be impossible. In this case, Procter & Gamble’s products are classified as consumer goods. Target Audience cont. Olay Marketing Plan 4888 Words | 20 Pages. Later they decided to include the sun protection factors to improve the product. However, with the name change there has also come a change in its target audience, especially in more recent years. Olay is a 66-year-old global skin care products brand within Procter and Gamble’s (P&G) $65 billion-dollar product portfolio. ... 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. Until 1995, Dove was the US's leading soap brand, and Olay the best-selling moisturizer; but since then both products have launched a series of spin-offs designed to capture first the middle ground of feminine cleansers, and then a string of other market segments. Olay carries out extensive TV advertisements to reach the customer. 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). *You can also browse our support articles here >. 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. Olay would do better to potentially focus on more powerful active ingredients in their skin care line to attract users. This means that they’re a step above many of the other well known brands in the market 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. 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. Body Care Category. 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. 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. Go beyond lines and wrinkles. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Olay has the strong backing of the parent company P&G and is thus spread all over the world. The promotional and advertising strategy in the Olay marketing strategy is as follows: Olay followed a unique kind of promotion strategy. Instagram influencers raise awareness of Olay’s cause marketing movement by weaving its products into their daily skincare routines for a 28-day challenge. The Olay brand of well known skincare product lines, is known for a few different things in the personal care products community. There has been a shift over the years from older consumers to younger consumers, although older consumers are still the most prominent. 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. When done correctly, they also reinforce the properties of the existing parent product through synergy and bring news to the brand. The brands range from high end to low end, respectively, to reach different demographics. 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. 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. Marketing Mix of Olay analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Olay marketing strategy. 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. The company included foods and beverages in its product mix until the Pringles brand was sold to the Kellogg Company in 2012. This article elaborates the product, pricing, advertising & distribution strategies used by Olay. 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. No streaks. Oil of Olay is currently referred to as Olay. Hence, all these cover the marketing mix of Olay. safety issues. The entrepreneurial and innovative chemist Graham wulff, from South Africa, in the early 1950s developed the formula for Olay. The major challenge for Olay is to target young customers. 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. They have been focussing to fulfil all the skin care neds of the people irrespective of their age and skin type. This article has been researched & authored by the Content & Research Team. 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. 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. Subscribe to save 5% + an additional 5% when you use your REDcard on select facial moisturizers. Marketing strategy helps companies achieve business goals & objectives, and marketing mix (4Ps) is the widely used framework to define the strategies. Shop Target for Olay Skin Care you will love at great low prices. http://www.cambridge-design.co.uk/wp-content/uploads/pdf/ProductSystems.pdf, http://www.beautyandaging.com/oil-of-olay-review. This breakthrough facial moisturizer transforms from cream to liquid on contact for fast absorption and a breathable feel. You’ll see skin that’s smooth, matte and shine-free. The “Fearless 9” females lead Olay’s #FaceAnything campaign with empowering messages to invite other women to embrace their true beauty. We’re committed to doing our part to help stop the spread of COVID-19. Products like Body and White radiance were basically launched in America and Asia respectively. Jack wrote the advertising copy to the magazines and newspapers as tips and beauty hints with suggestions on how to use the 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. With over 400,000 users submitting their receipts through our suite of mobile apps, we help you better understand consumer behavior across all channels. 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 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. It has been reviewed & published by the MBA Skool Team. The Olay brand also includes soap, cleansers, night creams, and body wash. Olay is Britain’s bestselling skincare product, according to Marketing’s Biggest Brands survey. A high demand made to the product as Oil of Olay made remarkable to success in the South African market. No sun required.”, Source: www.docstoc.com/docs/14719894/Oil-Of-Olay-Products. 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. Life & Style Magazine gave their “Beauty Award” to… Olay Definity Eye Illuminator , for Best Eye Cream, (August, 2009). In 2006 Olay was launched in Philippines and 2007 in India. 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. 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 launched a various types of skin care products so as to extend the brand into different variants in the skin care segment very successfully there by validating its brand effectiveness prevailing on its consumers minds . 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. Do you have a 2:1 degree or higher? Shop for olay skin care products online at Target. 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