Published by MBA Skool Team, Last Updated: March 26, 2017
Marketing Strategy of Olay analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Olay marketing mix, help the brand succeed in the market.
Olay marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Olay Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Olay marketing strategy can be explained as follows:
Olay is a global brand providing the beauty products. Olay has a wide variety of products in its marketing mix. Olay majorly targets the young and middle aged women globally. The various products under the brand are Complete, Total Effects, Prox, Fresh effects, Body, White Radiance, Regenerist, Regenerist luminous etc. Olay had come up with the anti-ageing products to target a new segment in the market. It has majorly tried to come up with moisturiser to stay looking young. Later they decided to include the sun protection factors to improve the product. The main ingredients of the product include glycerine, vitamin B3, broad spectrum sunscreen, vitamin A derivative etc. The Olay brand also includes soap, cleansers, night creams, and body wash. They have been focussing to fulfil all the skin care neds of the people irrespective of their age and skin type.
1. Olay Regenerist
2. Olay White Radiance
3. Olay Natural White
4. Olay Total Effects
These are some of the most popular beauty products from the house of Olay.
Olay Price/Pricing Strategy:
Below is the pricing strategy in Olay marketing strategy:
Olay basically targets the higher middle class people and are price a little higher than other brands.
Olay have been successful in maintaining the image and the price because off the quality of the product. They have been successful in increasing fairness and reducing the dark spots. The product is well perceived amongst the people so they are ready to buy it even for a higher price. 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.
Olay Place & Distribution Strategy:
Following is the distribution strategy in the Olay marketing mix:
Olay started in South Africa and now the brand has spread worldwide and widely accepted. Products like Body and White radiance were basically launched in America and Asia respectively. In 2006 Olay was launched in Philippines and 2007 in India. Olay is spread in counties like Netherlands, Belgium, Germany, USA, Spain, France, Italy, UK, Ireland etc. Olay has emerged as market leader in many countries like UK, China, USA. They have widely spread distribution network. Olay products are easily available at cosmetic stores, supermarkets, online through ecommerce sites etc.
This ensure an extensive geographic reach for the brand Olay.
Olay Promotion & Advertising Strategy:
The promotional and advertising strategy in the Olay marketing strategy is as follows:
Olay followed a unique kind of promotion strategy. Olay’s products never depicted what the products did but instead carried taglines attracting the youth like “Discover The Youth in You” etc. Also personal messages were written to the reader by a fictitious advice columnist Margaret Merrill. These were written in Readers Digest and also newspapers which often gave a look of editorials. Olay carries out extensive TV advertisements to reach the customer. They have always created an image focussing on “helping women become beautiful”. In India, Olay has actress like Katrina Kaif, Kajol, Madhuri Dixit etc. as their brand ambassador which again attracts youth easily. They carry on advertisements through various mediums inclusive of print media and tv ads. Magazines, newspapers and hoardings all are used for the promotion activities. Olay have also entered sponsorship programmes to reach out to people. Hence, all these cover the marketing mix of Olay.
Olay is one of the most selling brand of Procter & Gamble. Olay is a skin care line previously Oil of Olay. It originated in south Africa and has spread worldwide by now. It had been set up with the tagline to help women become beautiful. Since then Olay have always come up with unique kind of taglines to appeal the youth.
Olay has the strong backing of the parent company P&G and is thus spread all over the world. Olay have been successful in coming up with new products to meet the market demands.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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