Oil of Olay Case Study
DEFINE THE PROBLEM
The case “ Strategy is Choice ” is about the problems faced by Oil of Olay in late 1990’s , a skin care cream by P & G. This is a problem case which a perfect solution. The main problems appeared in this case are: * Oil of Olay was considered as old fashioned and no longer relevant. * Sales were decreased to a large extent. * Customer base were diminishing every year. * Market share was decreased.
LIST ANY OUTSIDE CONCEPTS THAT CAN BE APPLIED
The main concept which can be applied from outside to this case is “ Marketing Myopia ”. This is because the P & G was not considered the other skin care brands as the competitors until 1990. After 1990 they realised that their product was losing its market share. Until 1990 they were not tried to make any improvements or innovation in their product. They were not able to see the upcoming competition in skin care market until their market got weakened and weakened year by year.
LIST THE RELEVANT QUALITATIVE DATA
The qualitative data given in this case are * The Oil of Olay was seen old fashioned and no longer relevant. * Women were attracted to other brands with more to offer than Oil of Olay. * The price at which Oil of Olay sold in the market wasn’t competitive with alternatives.
LIST THE QUANTITATIVE DATA
The quantitative data obtained from this case are * The price of Oil of Olay’s core product was $3.99, wasn’t competitive against the alternatives. * The Oil of Olay’s sales were decreased below $800 million per year. This is a very low sales rate for a market leader in the $50 million skin-care market.
DESCRIBE RESULT OF YOUR ANALYSIS
By reading this case, I have understood that the P & G didn’t made an attempt to study the vast scope of skin – care market, because of the absence of competition . when they realise the depth of this market, they lose their market share to a large extent. There are many reasons behind this such
The case “ Strategy is Choice ” is about the problems faced by Oil of Olay in late 1990’s , a skin care cream by P & G. This is a problem case which a perfect solution. The main problems appeared in this case are: * Oil of Olay was considered as old fashioned and no longer relevant. * Sales were decreased to a large extent. * Customer base were diminishing every year. * Market share was decreased.
LIST ANY OUTSIDE CONCEPTS THAT CAN BE APPLIED
The main concept which can be applied from outside to this case is “ Marketing Myopia ”. This is because the P & G was not considered the other skin care brands as the competitors until 1990. After 1990 they realised that their product was losing its market share. Until 1990 they were not tried to make any improvements or innovation in their product. They were not able to see the upcoming competition in skin care market until their market got weakened and weakened year by year.
LIST THE RELEVANT QUALITATIVE DATA
The qualitative data given in this case are * The Oil of Olay was seen old fashioned and no longer relevant. * Women were attracted to other brands with more to offer than Oil of Olay. * The price at which Oil of Olay sold in the market wasn’t competitive with alternatives.
LIST THE QUANTITATIVE DATA
The quantitative data obtained from this case are * The price of Oil of Olay’s core product was $3.99, wasn’t competitive against the alternatives. * The Oil of Olay’s sales were decreased below $800 million per year. This is a very low sales rate for a market leader in the $50 million skin-care market.
DESCRIBE RESULT OF YOUR ANALYSIS
By reading this case, I have understood that the P & G didn’t made an attempt to study the vast scope of skin – care market, because of the absence of competition . when they realise the depth of this market, they lose their market share to a large extent. There are many reasons behind this such