Oil of Olay Case Study
So by reinvesting in the same brand to improve the quality of the product, it can easily regain its old market. If ‘Oil of Lola ‘ is marketed with a new face to compete with new competitors and suitable for new generation customers. Along with this extensive marketing strategy should also be done. We must give importance to advertisements in television, swappers, magazines (specially magazines for women) and so on.
The brand name ‘Oil of Lola have already a place in mind of customers, so by reinvesting in it in an intelligent way will help to acquire the market. This is a strategy that requires a lot of investment, but in my view introducing a new product in the market requires a lot of money and it is very difficult to build a market space for a new product. Also buying an established skin-care leader is very expensive and at the same time it is very speculative. So reinvesting in the same brand will help to catch the market.