Old Spice Marketing Strategy & Marketing Mix (4Ps)
Published by MBA Skool Team, Last Updated: November 09, 2017
Marketing Strategy of Old Spice 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 Old Spice marketing mix, help the brand succeed in the market.
Old Spice marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Old Spice Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Old Spice marketing strategy can be explained as follows:
Old Spice is one of the most popular men’s grooming products. Designed around ‘Smell Like a Man’, Old Spice deals basically in all men care products, for target group of 18-35 year old men, with an active life style. Fragrances and deodorants and antiperspirants are the products that offer the value preposition of ‘Smell like a man’. Old Spice has a wide range of Shower products, Shaving Cream, Shower gels, after save lotions, Shampoo etc in its marketing mix product portfolio. These products are the highest selling products of Old spice. These are the ones, that have created a unique position of this brand amongst the target group. Body spray, texturizing paste, etc. are some styling products. These had been launch to expand in the horizontal direction, to cover a wider range. It also offers t-shirts, bath towels and socks. These are some product by Old Spice that had been launched to generate profit through the existing brand name and unique position of men-preferred brand. Also, these products act as branding themselves, ones wore by the consumers.
Old Spice Price/Pricing Strategy:
Below is the pricing strategy in Old Spice marketing strategy:
The unique value preposition, allows Old Spice brand, to charge a slightly higher price.
Although the prices are comparable to its competitors and can be deemed as mid-ranged price. This segment is a highly competitive one. Everyone promising to offer more or less the same value and quality, differentiation is not easy. Hence, the pricing methodology is a competitive one. Most Old Spice products are available in range of $4 to $30, which is Rs. 200 to Rs. 1500. This pricing strategy in its marketing mix has allowed it to be have third largest share in sales, in the US markets. Old Spice as a brand, always tries to differentiate on the basis of variety. It keeps coming up with new variety of same products, or even a whole new line of product. This allows it to charge higher prices for some of its products which offer uniqueness, in their experience and usage. Shaving creams as high as for Rs. 1500 are available in the market. Old Spice has more or less same pricing in every country. Hence, for most developed countries it is a mid-range product. But for counties like India the brand as considered as a premium brand.
Following is the distribution strategy in the Old Spice marketing mix:
Old Spice products are available in the convenient stores, located in posh markets, keeping in view the target group. Also, the products are available in malls and stores like Walmart. The website itself provides various product ranges. Bulk orders can also be placed at sites like overstock. With presence on ebay, Amazon, etc. the option of shipping allows it to expand to other potential markets. The online and ecommerce is right now the major focus of the brand, as the target group are the ones who prefer to use these channels. Old Spice products are popular in most developed and developing countries. Hence, brick and mortar stores are in the major cities of countries in Europe, Asia and North America.
With presence of many competitors in already available markets, Old spice is expanding in other regions, including Latin America.
Old Spice Promotion & Advertising Strategy:
The promotional and advertising strategy in the Old Spice marketing strategy is as follows:
Old Spice ads and campaigns mostly revolve around empowering men, and offering them unique values. The tagline ‘Smell Like a man should smell like’ captures the attention of testosteroid consumers, very efficiently. Old Spice ads are focused around the target group, of men who value the qualities attached with manhood in traditional ways like horse riding and sports. Although these ads might not seem very logical, but they capture attention through humor, allowing to work on the emotional levels, with the consumer. Wieden and Kennedy, an independent ad agency (worked with Coke and KFC) , is associated with designing ads for Old spice. The social media platforms are used very creatively by the brand. The presence on social media can be estimated with the successful stats of Facebook and Youtube subscribers. The interaction with audience is of very high levels, with the out of the box and funny ads. Hence this completes the marketing mix of Old Spice.
About Old Spice:
Originally Old Spice was introduced in 1937, as a brand for women, however the side male grooming products became the factor of success and main products for this brand. It has been purchased by P&G in 1990s. Earlier dealing with middle aged men, it has moved to younger gen men with age of 18-35 years. With its unique positioning and keeping the target consumers in mind, Old Spice ran a successful campaign ‘IF YOUR GRANDFATHER HADN’T WORN IT, YOU WOULDN’T EXIST.’ Their tagline is ‘Smell like a man’. Being in FMCG sector focused largely on men, the Old Spice, faces a huge competition, with even new players coming.
However, this market seems to get enlarged with increasing openness among people to accept the male grooming products, which were earlier viewed as decorative and now acts as status symbol. The main competitors of Old Spice are Axe, Palmolive, Vi John and Gillette.
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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