EOS, an acronym for the Evolution of Smooth, revolutionized the lip balm world just seven years ago when they released their own lip balm brand to compete with the large companies already dominating the space. Of course, lip balm is about the last industry that you would ever expect to be revolutionized, so their story is a compelling one to say the least.
How EOS lip balm came to change the market is a tale of learning about their customers including those who were not all that enthralled with the lip balms that they were using. For the most part, the lip balm that people consumed in the year 2000 was pretty much the same that was sold in 1900. Flavored were bland and medicinal, the products were made from petroleum jelly, that oil byproduct, and lip balm was sold in these androgynous applicator tube that was sanitary, but easily lost in the handbag of women, who were the primary buyer of lip balm.
The most interesting part of the lip balm market was that the female consumer who primarily bought lip balm was not all that excited about using it and had no loyalty to the brands that they bought. EOS set to change that by making a product that excited these female consumers on Target.
They started with organic and all natural ingredients including higher quality oils which last longer and provide added moisture protection. New and unique flavored were added which contain fruit and subtle flavors which were appealing to women. Finally a new applicator orb (http://www.racked.com/2014/10/31/7571165/eos-lip-balm) was introduced which was not only sanitary but also unique and stood out.
According to Fast Company, this market strategy proved to be a success and consumers bought EOS lip balms in droves to the forefront of the market to the point where competitors started to emulate EOS.