EOS is not an old brand with a history of less than ten years and came up against competition that were releasing products that seemed ancient. The existing companies in the lip balm industry were creating products that were very much unchanged over the years and customers were not having their current needs met.
EOS saw this as an opportunity to move into the lip balm market despite the well known nature of the brands that they would be competing with. These brands like Chapstick and Blistex had been operating for decades and were well known by customers. EOS was entering into the industry with no name recognition and brand awareness but were able to create a lasting and trusted brand, check this on ebay.com.
EOS started with their product formulation. They designed a lip balm product that had natural ingredients that were increasingly a concern for customers. These natural ingredients tested well with customers and didn’t have the fake flavorings that their competitors used. EOS designed unique flavors that were far improved from the limited flavors that the competition was selling and they created a product using processes that were based on custom built equipment, which made the EOS lip balms hard to duplicate.
EOS also tested this formulation with their customer base and realized what worked well and what needed further refinement. They then started out by building relationships with retail chains that would allow them to place their lip balms in customer’s pockets. The first relationship was with Walgreens which took a chance on a young brand and once the success of the EOS brand was established, allowed them to move to other major retailers like Costco and amazon.ca.
By testing the boundaries of the lip balm market and developing unique products, EOS was able to build a presence in an existing industry, causing some disruption along the way. For details, check ulta.com.