EOS lip balm was received with enthusiasm since it was first introduced to the market seven years ago. It didn’t take this Evolution of Smooth lip balms long for it to be spotted by different celebrities and in fashion magazines.
The great works are attributed to the Fast Company, which was the brains behind this product. Their marketing technique was a unique one, one of its kind. Instead of overdoing it like regular market hypes everyone is used to, they focused all their attention on creating a quality product and distributing them. This simple strategy made the values the company stood for become known, thereby distinguishing their product from other regular manufacturers.
The company chose their product of innovation to be a lip balm after conducting a thorough analysis of the market. It was clear that there were very many products in the market, which did not offer any competitive advantage over each other. The only mediocre difference was probably like 0.01$ difference in price. Seemingly, it was the best product for innovation. The products are available on online shops like Lucky Vitamin and ULTA.
Therefore, they set up to find this new modification to incorporate in the design of a new lip balm. Many clay artists were approached to come up with different imaginative design models. After a period of research, they came up with this interesting model. It was unique in all aspects since the user did not have to use fingers in applying it, something that was argued to be unhygienic from some quarters. Talk about forming an emotional connection with the users.
The market targeted was the millennials, those who are always styled conscious. In this respect, the social media was the perfect tool for advertisement. In addition to that, the company started a world tour with Taylor Swift and Demi Lovato, who were the key advertisers that brought the brand to light. The company has since continued with research to continue innovating in more and more products.