There are plenty of companies that do very well by basically taking a product that already exists and just marketing it different.  One small differentiating feature and a company can run with it.  Maybe it lightens skin quicker, less toxic, cheaper, etc.  A cosmetic company can slap 'new formula' on the box and there you go.  Not too long ago, MySpace dominated the social networking scene.  Look at that became extinct by something that is basically the same thing - a social networking site.