An article written, by Elizabeth Segran, at Fast Company introduces the idea that EOS lip balm beats its competition, Chapstick, through carefully planned marketing and design strategies. It has taken EOS seven years to reach the explosive status of being called a $250 million company, but the founders would probably say it was their plan to become a huge success from the very beginning.
Three men, Mehra, Teller, and Dubitsky all decided to brainstorm ideas on beauty products they could surprise people with inside the everyday drugstore. They decided on lip balm, because what was already available was boring, and their makers weren’t putting any effort into making them better. The decided to create a product that would excite the senses. This would include a soft, round package that clicked when it closed, smelled good, and even tasted good. They wanted to get away from anything already being sold.
Mehra and Teller continued in the EOS venture alone, finding Walgreens as their first interested retail account. Target, Walmart and Costco were soon to follow. Once they were in the stores, they wanted to grow quickly. So, they decided to manufacture their own product. This allowed them reliably fulfill the supply in demand issue that so many new companies come across.
The next step was to market towards women between the ages of 25 and 35. They began with the typical magazine and television ads, and eventually grew into using social media and celebrities to advertise their product. Teller has said, “We became the largest advertiser in our category.” EOS can be linked to Keds, Rachel Roy, and even Disney, Alice in Wonderland. The marketing plan worked for the creators of EOS lip balm, https://evolutionofsmooth.ca/. They sale over 1 million packages of lip balm weekly, and they are only behind Burt’s Bees in over-all sales within the United States.