Marketing Analysis Of The Product Olay Marketing Essay

Marketing Analysis Of The Product Olay Marketing EssayThe Procter GambleAs a consumer goods partnership PG had global, on the ground presence in ab break 150 countries, more(prenominal) than 300 scores manufacturing, distribution and selling acclivities going on solar day to day basis.PG compete a wide collection of categories ranging from baby c are, household care, fabric care, beauty care, food and food care, per care and as well as health care.OlayThe trust by the women over fifty years made Olay as the world wide draw in tegument care products. The entrepreneurial and innovative chemist Graham wulff, from South Africa, in the early 1950s developed the mandate for Olay. In next followed twenty years, graham along with his personal line of credit partner Mr. Jack Lowe, put up the friendship that they both shaped to market Olay hooked on successful international organization with a 10 million dollar overturn a year.When Mr. Wulff functioning for the Industrial Developmen t Corporation (IDC) in South Africa in the early 1950s. As he was a productive inventor, he set up a laboratory at his home, at his home he used to develop products at his thaw time. He determined to formulate a product which extensively cares for unclothe, as his attention turned to skin care.The brilliant advertising and marketing intuition of Mr. Jack Lowes has invented the beginning(a) name as crude of Olay, designed the label and wrote on the pack copy. Jack wrote the advertising copy to the magazines and untriedspapers as tips and beauty hints with suggestions on how to use the product. then(prenominal) Adams National Industries formed by both the partners Graham and Jack to market Oil of Olay.A high demand made to the product as Oil of Olay made remarkable to success in the South African market. The extremely effective style advertisements proved by the reader. In 1985 Procter Gamble acquired the Oil of Olay fashioning Oil of Oaly from strength to strength.PRODUCT LIN E OLAYOlay has offering a multitude of 11 product line, nearly of them are Olay Professional Pro-XOlay Professional Pro-X is a scientifically advanced line of skin care that gives you jr.-acting, younger-looking skin in 28 days. Guaranteed.* It works by resignaling your skin to repair the moisture barrier and boost the surface- cellular ph star turnover rate. The result? A new anti-aging breakthrough thats potent, proven, and professional.Olay DefinityThe face of anti-aging will forever be redefined. Go beyond lines and wrinkles. New Olay Definity transforms the look of brown spots, dullness and lumpy skin tone. The result? A look thats highly defined. Luminous. More flawless.Olay RegeneristOlay Regenerist, formulated with the exclusive Olay Amino-Peptide Complex, beautifully regenerates skins appearance, without irritation, by renewing its outer layer one cell at a time. The result is skin that looks, feels and be checks more interchangeable new skin.Total EffectsThe key to the success of Total Effects is its exclusive VitaNiacin formula. proven effective in fighting multiple signs of aging, this exclusive combination helps rejuvenate and beautify your skin while improving the condition of the skins moisture barrier.Olay bring aboutOlay Complete moisturizers give your skin all-day moisture, vitamins and UVA/UVB protection in a lightweight formula for healthy skin every day. Suitable for all skin types, Olay Complete matches your skins necessitate with its formulas for regular, sensitive, combination/oily or extra dry skin.Olay Hydrate CleanseOlay Hydrate Cleanse dissolves oil, advanceup and dirt while a mild bedwetter gel matrix helps to sweep away impurities for a clean, rinsed feel. Formulated with an emollient cleanser and skin hydrators, Olay Hydrate Cleanse leaves skin feeling and looking beautifully healthy.Daily FacialsDaily Facials gently clears away oil, dirt and makeup rarify to the pores, leaving your skin refreshed, rejuvenated and bea utifully clean. From quick, convenient cloths to double-sided discs to powerful scrubs, masks and more, Daily Facials has a cleanup spot product perfect for you.Olay ClarityLife can be stressful, but it doesnt have to get under your skin. Olay Clarity is the showtime 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 LotionOlay Body Lotion products dont respectable moisturize. They actually strengthen the skins natural moisture barrier to prevent dry skin over time, thus breaking the cycle of dry skin. The result is a strong, essentially impermeable moisture barrier that protects your healthy skin from the elements. With regular use, skin stays hydrated, supple and radiant even if you skip a day.Olay Body CleansingOlays moisture-rich shower products will take your shower to a whole new level with luxurious moisturizers and skin-loving cleansers. Theres one thats just right for every skin type. Shower your body in skin-loving cleansers and moisturizers from Olay today.Olay Touch of SunA moisturizer with a touch of sunless tanner, Olay Touch of Sun gives your skin a radiant, sun-kissed glow. No streaks. No o hunt drink down coloring. No sun required.Source www.docstoc.com/docs/14719894/Oil-Of-Olay-ProductsSkin Care MarketSkin care products consumption grew over the years of the review period. Women are spending more bills to get a good look. For a better and younger look they are willing to try new products. to maintain consumer fealty and loyalty, the companies in skin care industry adopting the latest technology and making the revolutionary substances to new products. 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.Brand StrengthThe introduction of Skin dance step Analysis System (STAS) by PGs Olay brand in selected stores enables Olay beauty consultants with a proper training to analyze customers skin type as well as perform consultations to suggest the best product to meet their needs. Aimed at the clinical dermatology market created at CDP originally development of technology is STAS. STAS encourages brand loyalty increase the basket spends, as it is powerful sales to a faultl providing the customers along with graphical demonstration of the science that backed the range of Olay.http//www.cambridge-design.co.uk/wp-content/uploads/pdf/ProductSystems.pdfOlay Strenghtshttp//www.beautyandaging.com/oil-of-olay-reviewOlay is made available widely in may retail stores and also made available online as well. Olay has innovated many product lines in the skin care segment to reach a antithetic 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 Gambles hood which is one of the largest companies and global ly dominating.Olay has a spread widely all over by installing kiosks in malls and retail stores through out and had achieved a large number of customers who are quite a happy with the positive results of the product. The brands range from high end to low end, respectively, to reach different demographics. 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. Nonetheless, this is a skin care line specifically geared toward anti aging prevention in women.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.Olay weaknessesSome of the issues found in Olay ingredients are that there are no results from the clinical trials which they had post for any of the product li nes in their website. 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. It was rugged 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. Another trouble that occurred was that customers are not able to directly purchase Olay through Olay.com, making them have to go to another source. The odds are that you have heard of Olay originally because it is so well known as a big name brand. 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. 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 i n the past. 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. Olay would do better to potentially focus on more powerful active ingredients in their skin care line to attract users.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, Loreal and others who are priced according to the mass market consumers.BRAND EFFECTIVENESSThere are significant benefits to a successful brand extensionIdentify tenacious new product possibilitiesCapitalize on the paid-for equity in established brand namesEnable a company to enter new categories at significantly lower costReduce the risk of failure given the already established awareness and trustCreate a positive synergistic effect with the efficiencies of umbrella branding and advertisingReinforce the consumers pe rceptions of the parent brand nameBring news to real brands when there is otherwise nothing new to say about themBrands are a constraint to enter into new variants. Brands (not production capabilities) are the prime barrier to entry into most categories. Many companies could make a cola, but only Coca-Cola owns that brand. 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. Our brand extension study for Reeses identified peanut butter as a ordered brand extension. Hershey could not have efficiently entered the peanut butter category without the Reeses brand. In effect, brand extensions allow a company to capitalize on the antecedently paid for recognition, reputation and leverageable equity of its brand names. With the prohibitive cost of establishing new brands (just ask ex dot-coms), brand extensions save companies money. When done correctly, they also reinforce the properties of the existing paren t product through synergy and bring news to the brand. It is not uncommon to find sales of the parent product rising after the rear of a successful brand extension.Notice how was the Olay brand introduced into the soap businesssource http//www.brandextension.org/benefits.htmlOlay has launched a various types of skin care products so as to pass on the brand into different variants in the skin care segment very successfully there by validating its brand effectiveness prevailing on its consumers minds . The procedure of extending a brand also has other potential benefits. In recent years, the UKs cosmetics market has seen many brands launching exclusive and expensive lines after gaining some of the market share. Examples of this include Procter Gambles 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 she lves for their products. In November 2008, they launched a range of premium skincare products under its Olay brand. The Olay Pro-X range is aiming at mass market but is being marketed as a luxury product at the similar time. This is closely related to PGs desire to re-position the brand for high-end market customers. The Pro-X series is yet another additional line in Olays family and it benefits from the fact that the awareness of core brand can reduce costs. Olay has been an established and popular brand so its name will increase the willingness of consumers to try new brands. According to PG spokesman, Pro-X is aimed at customers who are more likely to buy mid- to premium-range skincare products from department stores. (Marketing Week, 30.10.08). 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 dont need to nonplus about potentially risky aspects, e.g. safety issues. Customer s perceived risk of purchase also becomes lower than in the case of a completely new brand.PG 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? 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. PG 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.BRAND VALUEpoolonline.comAccording to the source brand value mainly on the financ ial performance and the brand market performance and olay has very efficiently balanced both its financial and the brands market performance.Olay is Britains bestselling skincare product, according to Marketings Biggest Brands survey. However, year-on-year sales were down by 11% in the 12 months to July 2005, and in this years Readers Digest Most Trusted Brands survey, Nivea knocked Olay off top spot being one amongst its tough competitor (bowery).Olay undoubtedly has done a marvelous job of building on its heritage of skincare for its majorcore target the older women. 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 major challenge for Olay is to target young customers. The anti-ageing brands are driven by constantly changing ingredients, making it hard to build specific benefit loyalty. Olay s ads are approachable and real. It is a safe, trusted and comfortable brand.(according to SHI RIN VALIPOUR GLOBAL work DIRECTOR, JWT)source http//www.market-intelligence.com.au/images/brand.pngAWARDSOlay has received quite some awards stating its Brand loyalty,Brand image among which some of the latest awards are.,Glamour Magazine gave their Glammy Award toOlay Regenerist warmheartedness Lifting Serum, for Best Drugstore Eye Cream,(September, 2009).Life Style Magazine gave their Beauty Award to Olay Definity Eye Illuminator , for Best Eye Cream, (August, 2009).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 social class Award to Olay Body Wash plus Spa Exfoliating Ribbons WinnerBody Care Category. Survey of 100,000 people by TNS. (January, 2009).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.TARGET MARKETOlay mainly targets middle aged women from 25-45 as the product is for minify 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 brands target the brand has marked a place as a global leading skin care product.MARKET SHAREBRAND IMAGECONCLUSION/RECOMMENDATIONS BHAI PLZ HELP OUT WITH THIS UNTIL THEN I WILL approximate OUT THE REFERENCES OK MERE BHAI ..