Wildcraft Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Wildcraft through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Wildcraft Product Strategy:
Wildcraft is one of the leading outdoor gear and accessories brand based out of the India. Wildcraft started as a predominantly a service company which organised river rafting expedition, and conducted outdoor learning programs for corporates and children. 70% of Wildcraft’s revenue till 2003 came from the services that it provided. Then it shifted its focus to products which propelled its growth. Wildcraft’s product portfolio in its marketing mix includes packs and gears which consists of rucksacks, backpacks, hiking packs, duffle bags, campus gear and accessory, travel and outdoor accessories and outdoor equipment. Company also manufactures men and women clothing, footwear, and rainwear. Wildcraft has off lately has also ventured into multi-utility products for urban landscape. As per company’s own assessment the company’s bestselling product bag packs are mostly used for daily commute and only 20% of the times they are used for outdoor adventures. Wildcraft follows the strategy of local product adaptation when it expands to market outside India with same positioning but customised product for local market.
Image: company website
This concludes the product strategy in Wildcraft marketing mix & strategy.
Wildcraft Price/Pricing Strategy:
Below is the pricing strategy in Wildcraft marketing mix strategy:
Wildcraft’s product are priced competitively in the face of increasing competition from Chinese private labels and presence of international brands like Decathlon. However, its operational economies of scale and learning curve has helped it achieved operational efficiency such that it remains profitable even if price it charges is on the lower side.
Wildcraft’s pricing strategy in its marketing mix is of being market leader who to change the preferences and lifestyle of consumer have priced its product lower taking some hit on its profit margin which otherwise it could have earned. Wildcraft also follows the product line pricing strategy, it has products under same line catering to different segment of consumers. Its Rucksacks in India is available in the range of Rs. 1000 to Rs. 2000 as well as in the range of Rs. 9000 and above.
Read more about Wildcraft
Wildcraft Place & Distribution Strategy:
Following is the distribution strategy in the Wildcraft marketing mix:
Wildcraft’s products are available in UAE, Saudi Arabia, Oman, Qatar, Singapore, Malaysia, Indonesia, and Taiwan. In India, the company’s branded products are available through Multi-brand channel, Institutional channel, and exclusive stores. Most of the Wildcraft’s products is sold through multi-brand channel. By April 2015, company had around 31 exclusive stores and had plan of adding 50 stores each year. Wildcraft exclusive stores size are limited to 400 to 500 square feet, with an aim of achieving breakeven in 12 to 18 months as high rentals in India takes away a larger pie of profit margin. Company has presence in over 55 cities in India through its retail distribution channels. Company is also present on e-commerce channel, it has its own e-commerce operations in India and UAE. Wildcraft merchandise are available on multi-brand e-commerce websites such as amazon in countries where it has its distribution.
Wildcraft has also launched mobile app to facilitate sell and facilitate nearby store location through smartphones.
Wildcraft Promotion & Advertising Strategy:
The promotional and advertising strategy in the Wildcraft marketing mix is as follows:
Wildcraft has diversified its product portfolio into multipurpose kits but it positions itself as purely as an outdoor label. Wildcraft adopt 360-degree marketing strategy for promoting its product. It uses paid media such as TV commercials and print ads. Company launched “Come Alive” outdoor campaign in Mumbai, Delhi NCR, Bangalore, Ahmedabad, Pune, and Hyderabad in 2015. Billboards, mall facades, bus shelters metro and cab branding were done by displaying Company’s gears against beautiful landscape. Wildcraft has exploited digital media through YouTube and other channels. Company is keen on utilizing acquired media platforms which help in spreading word of mouth like social media platforms such as Facebook, Twitter, Instagram, and LinkedIn. Company utilizes launch events to create buzz through press media. Wildcraft’s online website has blog tab where people write about their travel experiences. One part of company’s campaigns is also dedicated towards cultivating an outdoor adventure culture. This completes the Wildcraft marketing mix.
About Wildcraft:
Wildcraft is an Indian outdoor gears retail company headquartered at Bengaluru. It was founded in 1998 by Dinesh Kaigonahalli, Siddharth Sood and Gaurav Dublish. The company has its roots in the early business of outdoor adventure kits shop started by Dinesh in 1993. The company started as a hobby for the three co-founders, Siddharth and Ankur joined it full time only after 2007. The concept was to make gears which will withstand the tough terrains. Wildcraft company is pioneer in its segment in India as before it came into being, Indian consumers were very little exposed to the outdoor adventures and most of enthusiasts who wanted to go for travel adventures used to buy accessories from abroad or brought it second hand. Indian outdoor gear market in 2017 is estimated at over $2 billion. Wildcraft’s revenue was over Rs. 300 crores in 2017. Wildcraft has grown at a CAGR of over 60% since 2007.
The company has received an investment of Rs. 70 crores from Sequoia Capitals in 2013.
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