Tag: product

Interesting Kickstarter Products-1

Innovative Bird Feeder

“True Innovation is coming up with a product that the customer didn’t even know they needed”Extinction of the Exclusives:Birds are the most lively and charming creatures existing on Mother Earth. They play a vital role in the food chain. Extinction of bird species is increasing at an alarming rate. Major reasons for bird extinction are as follows:Aggravated Human Population , Contamination of soil by excessive use of fertilizers,Poor Air Quality,Destruction of Forests and Natural Landscapes.Although some of us are not directly involved in such extinction , we all are involved in the same without our knowledge. Every lock has its key. What if we could rectify the situation with an innovative product? Then Kickstarter has got an offer for you.Bird Buddy:Kickstarter is evolving as a hub of innovative products. One product that has recently caught my eyes is a Novel Bird Feeder. Everyone of us would have done a bird feeder out of cardboard or waste materials and would have placed it in our homes. The joy we get while the birds are fed with the feeder is astonishing. But sometimes we would forget to refill the feeder or while we are out of town we wouldn’t be able to feed them and have a look over them. The Bird buddy will save you at those times.Unique Features of Bird Buddy:Magical Moments captured are treasures to be cherished:Bird Buddy has a camera in it and it captures every featured friend who is benefited by your benevolence. It will also recognize them and send a notification to your mobile regarding their visits. It also identifies the arrival of birds using their voice with the help of its built in microphone.Weather Resistant: In our childhood days , we would be agonized when the bird feeder crafted by us were destroyed in rainwaters.Bird Buddy is safe all day , everyday.Win Win Situation:Bird watching is an art that is underrated. Watching those little creatures enjoying their meal is an unmatched emotion. Sometimes our little lovelies are frightened by our presence and fly away in the middle of a meal. But with Bird Buddy it’s a win-win situation for both. The birds enjoy their food at peace whereas we could get a sneak peak of them at our comfort zone.Easy to use:The bird buddy is simple to operate and maintain. It has a built-in battery to power the microphone and camera. The refilling option is very easy.Cool Add-ons:Bird Buddy comes up with cool add ons like solar roof , wall and fence mounts.The product has got more than 20 backers till June 2021. Hope this might bring back joy in our lives and enhance the food chain.

Marketing Mix

In every business it is important to have an efficient marketing plan or strategy to promote their product, to engage more customers or to understand consumer behaviour, to upgrade their pricing strategy. For this in 1960s, an academic and marketer E. Jerome McCarthy proposed the idea of ‘marketing mix’.

Marketing mix is basically a mixture of 4Ps to enhance business model with Price, Product, Place and Promotion. These 4Ps can be used as marketing tools by any business for achieving their market goals and targets.

Components of Marketing Mix

  1. Product

Product means anything which is for sale any physical product or any service rendered to customer.  Product should the meet expectations and demand of customers in the market.Some of the marketing decision which every seller should think of  such as branding, packaging, product range, product design, packaging and labelling, guarantees and warranties.

2. Place

In marketing mix, place refers that where seller choose to sell his product whether it is warehouse, street market, online platforms, supermarkets, etc. It depends upon the nature of the product i.e. if product is perishable, shops are preferable to sell that product and if product is non-perishable both shops and online platforms are suitable.Marketing decisions related to place includes: market coverage, inventory, transportation, location, distributors, warehousing and franchising.

3. Price

Price is the main aspect for the business and customer. Each and every customer gets affected from price of the product which consumer is selling. Price reflects the cost or value of the product. Seller should set the price as per the demand of customer and the actual cost of the product. Accurate price can change the customer’s preference form one product to another. Other important aspect of pricing is what price has been set by your competitors? This can help any business in setting their pricing strategy. Pricing strategy can make profits for the business or can cause loss to the business if it is not accurate.Price market decisions includes: payment method (card or cash), credit payment, pricing strategy, allowances for distributors and discounts for customers.

4. Promotion

Promotion means to tell or convey about the product to customers through advertising, marketing and sales promotion. It can be through offline mode such as T.V. magazines, newspapers, radio etc. and online mode like websites, ads on social media, etc. It depends upon the seller of the product which way or method he chooses to communicate about his product to customers and according to response from his customers, he should continue with that particular promotion method.Marketing decisions for promotion involves: advertising, sales promotion, public relation, direct marketing, what and how to communicate to customers.

In 1980s Booms and Bitner proposed a model of marketing mix which consist of 7Ps, generally he added 3 more Ps to marketing mix i.e. Process, People and Physical Evidence which is beneficial for Service Marketing.

5. Process

Process describes the chain of delivering the goods or services to the customer. Process examination involves the evaluation of each and every step like procedure of distribution, payment system and relationships with customer. Evaluating, modifying and improving different steps of process will help business to maintain their efforts and to check that methods are new and as per recent trend. Process related marketing decisions involves: blueprint service, process design, checking system failures, monitoring service performance, allocation of resources required.

6. People

In marketing mix, ‘people’ refer to those who all are involved in the process of delivering of goods; managing the process; handle customer relationship, etc. Employees, staff, workers or labour all are included in ‘people’, basically all those who are a part of business. For any business it is necessary to employ right people to manage all the business related process. Marketing decisions related to people includes: staff recruitment and training, attending customers, handling complaints and failures, handling social interactions.

7. Physical Evidence

 Physical evidence means evidence of the product which has been purchased by the customer. It can be receipt, brochures, tracking information, invoices, etc. It is beneficial for both customer and seller to have a record or any document of transaction. It also relates to validation of the product, authenticity of the product check by the customer through their websites, logo etc. Here, marketing decisions includes: interior design like furniture and scheme, facilities like equipment access, brochures, stationery, surrounding conditions, and signage.

References:

https://en.wikipedia.org/wiki/Marketing_mix

https://blog.hurree.co/blog/marketing-mix-7ps

Deodorant market in India

When we think about personal care products, the image of a woman comes into our minds immediately. However, in the deodorant segment in India, men have overtaken the women with a significant lead. In fact, of the Rs 1,400-crore deodorant market, the male segment contributes Rs 1,000 crores, pegging the male to female ratio at 70:30. Greater usage of deodorants among Indians can be attributed to greater awareness of hygienic practices and affluence. Deodorants are used by both men and women in the middle and upper classes and with greater disposable income in these families, more and more people are able to afford personal care products that are not considered a necessity.

Hindustan Unilever is the market leader in deodorants, with 31.5% market share. Its flagship product, Axe, is highly sought after by both middle and upper classes. Other brands under Hindustan Unilever are Rexona and Dove, whose deodorants are popular in the Indian market too. After Hindustan Lever, Marico Co Ltd. and McNroe Chemicals are the biggest industry players in the deodorant segment. Hindustan Unilever’s Axe is the leading product in this segment, garnering 25% of the market value, followed by Marico’s  Set Wet, with 10% market value, and McNroe Chemicals’ Wild Stone garnering 9% market value.    

Deodorants come in various forms, including roll-ons, sticks, and sprays. There are a number of deodorants for males but there are very few deodorants for females. This is because deodorants and antiperspirants have recently been introduced to the Indian market. For decades, the Indian market has been relying on perfumes to enhance the scent of the body. And as such, females in the country continue to use perfumes instead of deodorants and antiperspirants. Also, deodorants are used by those who are constantly outdoors, and this is dominated by males. It is only in the last few decades that there has been an increase in the number of Indian women spending ample amount of time outdoors, which is why the deodorant market for females is still in the infant stage. Some of the deodorant brands that cater to the females are Nike, Fa, Dove, and Nivea. Experts predict that the deodorant industry will grow in the next few years. In fact, the deodorant market is projected to grow at 25% CAGR (compound annual growth rate) over the next five years. As net household income increases and with more disposable income, there is ample scope for the growth of the deodorant market in India.  

An increase in the usage of deodorants can also be attributed to the Indian climate, which is hot humid, especially between the months of March and September, forcing consumers to purchase antiperspirants and deodorants to keep their bodies fresh and cool. Deodorants were introduced to the market to help people eliminate body odour. However, some of these products contain toxic chemicals, many of which are carcinogenic in nature, which can be harmful to one’s body. Not many consumers are aware of the dangers of prolonged usage of deodorants; however, manufacturers are constantly experimenting with the ingredients in deodorants to ensure minimal risk to consumers. 

India perfumes and deodorants market stood at over $ 970 million in 2019 and is projected to grow at a CAGR of over 13%, to surpass $ 2 billion by 2025 on the back of rapid urbanization and emergence of online retail channel. Moreover, perfumes and deodorants manufacturers are offering a wide variety of innovative products such pocket perfumes, herbal perfumes, etc., which is further stimulating market demand across India.

Additionally, manufacturers are focusing on innovative branding and marketing of products, which is further anticipated to aid the growth of India perfumes and deodorants market in the coming years. Some of the leading players in India perfumes and deodorants market are Vini Cosmetics Private Limited, ITC Limited, Nivea India Private Limited, Hindustan Unilever Limited, Emami Limited, J.K Helene Curtis Limited, McNroe Consumer Products Private Limited, Godrej Consumer Products Limited, Wipro Consumer Care & Lighting and Marico Limited.

Pocket-sized deodorants launched by brands such as Engage, Axe, Set Wet and Yardley continued to gain traction in 2019 leading to the entry of more industry players seeking to benefit from the popularity of these products. These included Marico’s Set Wet and Wipro’s Santoor brands. The Fogg brand by Vini Cosmetics led the overall category in 2019 and benefited from the strongest brand recall. The company continued to see success with this brand due to its strong value proposition.

Sales of deodorants are now expected to grow by 3% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 5% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19. In light of the economic uncertainty caused by the global pandemic, consumers are set to reduce their spending on deodorants in 2020, with many opting for lower-priced products. Deodorant pumps, deodorant roll-ons and deodorant sprays are set to suffer from lower physical activity during lockdown while replacement demand could normalise by the end of the year.

Demand for deodorants is likely to normalise to some extent by the end of 2020 although the category will continue to be impacted by ongoing economic uncertainty and fears over a second wave of COVID-19. Price sensitivity will make consumers more cautious in their spending, with sales of deodorants likely to be limited to replacement purchases rather than products for stock at home.

Parle G is the largest selling biscuit brand in the world !

Parle-G is a brand of biscuits manufactured by Parle Products in India. A 2011 Nielsen survey reported it is the best-selling brand of biscuits in the world. Parle G or Parle Glucose is one of the most popular brands of biscuits not only in India but the entire world. Parle G is a brand of biscuits manufactured by Parle Products in India, and it has been in the market for decades.

In 2011, Nielsen, a market research company, published a report stating that Parle G has consolidated its position as the world’s largest selling biscuit brand. In fact, Parle G has topped other leading brands such as Kraft’s Oreo, Mexico’s Gamesa and Wal-Mart’s private labels. This may come as a surprise to many but India is the world’s leading market for biscuits, moving past some of the biggest markets in the world – the US, Mexico, China, Italy and Spain.

History

Parle Products was established as a confectionery maker in the Vile Parle suburb of Mumbai, in 1929. Parle Products began manufacturing biscuits in 1939. In 1947, when India became independent, the company launched an ad campaign, showcasing its Gluco brand of biscuits as an Indian alternative to British-branded biscuits.

Parle-G biscuits were earlier called ‘Parle Gluco’ Biscuits until the 1980s. The “G” in the name Parle-G originally stood for “Glucose”, though a later brand slogan also stated “G for Genius”. In 2013, Parle-G became India’s first FMCG brand to cross the ₹ 5,000 crore mark in retail sales.

Popularity

Primarily eaten as a tea-time snack, Parle-G is one of the oldest brand names in India. For decades, the product was instantly recognized by its iconic white and yellow wax paper wrapper. The wrapper features a young girl (an illustration by Everest creative Maganlal Daiya back in the 1960s).

Parle-G has recently become available in plastic wrapping. The modern packaging retains its traditional design. The change in materials was promoted with advertisements showing a Parle-G packet placed into a fish tank.

As of January 2013, Parle-G’s strong distribution network covered over 6 million retail stores in India. The Brand Trust Report ranked Parle-G as the 42nd most trusted brand of India in 2014.

The low price is another important factor in Parle-G’s popularity.Outside India, it is sold for 99 cents for a 418  gram pack as of 2012. A more common 80-gram “snack pack” is sold for as low as 15 cents (5 INR) at Indian grocers, and 40 cents at major retailers. By 2016, smaller 56.4-gram packs were being sold as eight for one dollar at Indian grocers in the United States. Also the first TV commercial for Parle-G was made in 1982. Kids favorite Indian superhero Shaktiman also endorsed the brand in the 1990s

Parle G came into existence in 1939 and today, it is a household name when it comes to biscuits. In fact, it is consumed by people of all ages and all classes. It is not only one of the oldest brands of biscuits in India but it is also the most trusted brand in this category. The reason why Parle G has made its way into so many homes is because of its diverse ways of consumption. Many people view biscuits as snacks or teatime food, but Parle G has changed this perception. Today, Parle G is not just seen as an accompaniment for tea but as a substitute for meals.

This is especially beneficial in India where malnutrition is rampant. So, when poor people are unable to afford meals, they can consume a few biscuits and they will get the required nutrients for the day – one pack of Parle G biscuits offers 450 calories.

In addition, Parle G can be consumed by diabetics too. So, Parle G biscuits can be consumed by anyone and everyone. This is how Parle Products has positioned this product and it has proven to be beneficial for the company. Apart from providing the necessary nutrients, Parle G is value for money. Parle G biscuits are sold in various packs ranging from Rs 1 to Rs 50, making it affordable for the masses. Parle G’s positioning as a brand for the masses has enabled it to be the largest selling biscuit brand in the world.

Today, Parle G is exported to Afghanistan, Bangladesh, Bhutan, Sri Lanka, Maldives, Nepal, the US, Europe, and Africa. Parle G is valued at over Rs 2,000 crores and enjoys a 70 percent market share in the glucose biscuit industry. Two brands that are strong competitors of Parle G are Britannia Tiger and ITC’s Sunfeast Glucose.

In India, Parle Products is not just a commercial entity; it is an organisation that cares about the people. Apart from producing world-class biscuits that are unmatched in terms of taste and nutritional value, Parle Products carries out corporate social responsibility (CSR) programmes throughout India. It conducts free eye check-up and treatment in rural areas, develops facilities such as libraries for children and plants trees as a way of promoting clean and green environment.

Parle G is a biscuit brand that not only satisfies one’s hunger and tantalises the taste buds but it also looks into the welfare of the community. This is a great differentiating point between Parle G and other biscuit brands, and all these factors combined together have bestowed upon Parle G its deserving position in the world.