SUBJECT:BRAND AND PRODUCT MANAGEMENT
ARNAB KUMAR BARMAN(12/MBA/61)
MARKETING STRATEGY OF PARLE .
As part of its marketing initiative, Parle Products has recently adopted a major pricing strategy whereby a 5 kg ‘Parle-G’ Atta will be available to consumers and, along with ‘Parle-G’ biscuit pack for free at Rs 90. However, competitors, ‘Pillsbury’ atta are priced at Rs 104, and, ‘Kissan Annapurna’ at Rs 102, in similar capacity.
Parle-G is available in Europe, UK, USA, Canada, etc. In Canada, it is sold by Zehrs, Food Basics, Loblaw’s, etc for only 99 cents for a 418 gram pack. Parle-G or Parle Glucose biscuits, manufactured by Parle Products Pvt Ltd, are one of the most popular biscuits in India. Parle-G is one of the oldest brand names as well as the largest selling brand of biscuits in India. For decades, the product was instantly recognized by its iconic white and yellow wax paper wrapper with the depiction of a young girl on the front. Counterfeit companies have attempted to recreate and sell lower quality products of similar names with virtually identical package design
It has 70% market share in India in the glucose biscuit category followed by Britannia, Tiger (17-18%) and ITC's Sunfeast (8-9%). The brand is estimated to be worth over Rs 2,000 crore (Rs 20 billion), and contributes more than 50 per cent of the company's turnover (Parle Products is an unlisted company and its executives are not comfortable disclosing exact numbers). Last fiscal, Parle had sales of Rs 3,500 crore (Rs 35 billion). It also is popular across the world and is starting to sell in Western Europe
MARKETING MIX OF PARLE PRODUCTS LIMITED
Core benefit- the core benefit of biscuit is to satisfy hunger of the consumer.
Basic product- in the second...