Pidilite Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Pidilite through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Pidilite Product Strategy:
Pidilite Industries is one of the leading companies in India making adhesives and other products. Pidilite product portfolio includes Adhesives and Sealants, Art Materials and Stationery, Fabric Care, Construction and Paint Chemicals, Automotive Chemicals, Textile Resins and Organic Pigments and Preparations. Pidilite also has Industrial Specialty products like Industrial Adhesive, Footwear, Pigment powder and Industrial resins. All these give an insight on the product strategy in its marketing mix.
Pidilite‘s biggest and most famous product is Fevicol along with FeviKwik, M-Seal, Dr. Fixit etc. M-seal is India’s leading Epoxy Sealant which is used in several segments due to its varied usage. Fevi Kwik is a popular general purpose adhesive which bonds to variety of surfaces. Dr. Fixit prevents leakages and is the market leader in construction chemicals. FeviBond is used in industrial areas like automotive, railways, construction and electrical areas of ship building etc. It is a rubber-based adhesive which contains Polychloroprene.
Pidilite Steelgrip is an insulation tape brand acquired by Pidilite in 2002. It manufactures PVC electrical tapes. Pidilite also has a clear adhesive, hand tear able tape which is safe for children by the name of Prime. Rangeela Tempera colors and Rangeela safe molding Dough is very popular among children.
Image: company website
This concludes the product strategy in Pidilite marketing mix & strategy.
Pidilite Price/Pricing Strategy:
Below is the pricing strategy in Pidilite marketing mix strategy:
Pidilite being the market leader enjoys high pricing power in all segments. It is easy for Pidilite to pass on the high cost of raw material to the consumer.
They have Rs.5 as a price point for a no. of consumer products. It helped them expand their market. Their retail margins vary from 12-25% depending on the products. Smaller players do give higher margins but Pidilite provides a better quality product which helps them beat the smaller players. This gives an overview in the pricing strategy in the marketing mix of Pidilite.
Pidilite Place & Distribution Strategy:
Following is the distribution strategy in the Pidilite marketing mix:
Pidilite uses various distribution channel to promote and market its products. Their products are sold through Hardware stores, stationery shops, Kirana stores, furniture stores, modern trade and pharmacies. It also sells directly to the end consumers. Its reach is not just confined to tier 1 cities but it is increasing its penetration in tier 2 and tier 3 cities and rural areas too. Pidilite has more than 4000 distributers providing products to 4,00,000 retailers or dealers and 4000 industrial consumers. Pidilite maintains good relations with intermediaries and suppliers which give them an edge over competitors. It introduced a training program for carpenters and also gave them Fevicol furniture book showcasing furniture designs.
Pidilite also gave an opportunity to the intermediaries to be a part of the social network and increase their contacts.
Pidilite Promotion & Advertising Strategy:
The promotional and advertising strategy in the Pidilite marketing mix is as follows:
Pidilite also spend a lot on their sales and marketing department. Since Pidilite’s products are low involvement products, Pidilite create brand awareness by educating intermediaries like carpenters, civil contractors, plumbers. It also holds training session for construction workers, plumbers etc. in its in house “Dr. fixit institute”.
Pidilite has always come up with brilliant advertisements and catchy jingles to win the hearts of the consumers. With each advertisement Pidilite has reinforced its value proposition. The advertisements are highly appreciated for their great content, creativity and the connect they have with the consumers. Their TV commercials have always had a rural theme to it. One of their ads have also won a Cannes award for India. Amitabh Bachchan has been the brand ambassador for Dr. fixit. Hence, this covers the entire marketing mix of Pidilite industries.
About Pidilite Industries:
Pidilite Industries Ltd. was incorporated in 1990 but the company started its production of Fevicol in 1959 in a small factory. The first manufacturing plant was setup in Kondivita village, Mumbai which now serves as a head office of Pidilite. By 1965 Fevicol became very popular and the preferred adhesive by carpenters due to its durability and reliability. Today Fevicol the market leader in terms of volume in Asia and has become synonymous with adhesive to everyone in India. Pidilite industries have grown both organically and inorganically. It acquired M-seal in 2000, Steelgrip in 2002, Roff in 2004, Cycloo and Sargent Arts Inc. in 2006, Pulvitec in 2007 and Woodlock in 2009. With so many acquisitions it expanded it product portfolio.
In 2005 Pidilite launched its own subsidiary in Singapore and later in Brazil and Middle East. Pidilite is an innovative company with state-of-art Research and development facility in Singapore.
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