Introduction
Branding is an important marketing function that helps companies differentiate their products and position their products better (Hunger & Wheelen, 2007). Himalaya Shampoo is a product Himalaya Drug company, India. The Indian shampoo market has grown in leaps and bounds and this presents the company with several marketing opportunities. It uses the differentiated strategy to establish itself in the Indian market.
Background of the relationship between the organisation and the industry context
Himalaya Drug company offers Ayurvedic generic drugs and solutions which enable consumers to avail high quality and natural products like soaps and shampoos. The industry for these products is growing as the standard of living, spending capacity and awareness about ayurvedic products in the Indian market is growing (Kotler & Keller, 2006).
Competitors and macro environment
There are several competitors including national and international brands in the Indian market (Samiee & Roth, 1992). In the present scenario it has limited its operations to India, it needs to ensure that it is able to target the local markets. The macro factors like the economy, social factors and the demographics are favourable and sustainable for Himalaya.
Description of product - current and proposed competitive advantage
The product is a shampoo with natural ingredients in it. This does help the product differentiate itself from its competitors and provides a competitive advantage to it. In order to create its competitive advantage it is important that Himalaya considers strengthening its differentiation strategy by bringing in several other products in its product line.
Target market
The target market is the shampoo consumers in India and provides Himalaya with a wide range of consumers. The major challenge is the existence of high levels of competition. Though the market is not saturated and there is growth opportunity, the existing levels of competition are high and will have to be dealt with and this can be a big challenge (Kotler & Keller, 2006).
How product would deliver value to consumer
The product delivers value to the consumers based on quality and reasonable prices. This can help the firm obtain fame and revenues (Pearce & Robinson, 2005). The pricing is based on competition to a great extent. Competition does impact pricing in this industry. But affordability is another major concern if the masses are to be targeted. In this way delivering maximum consumer satisfaction leads to maximizing value to the consumer. It helps establish better consumer loyalty as well. It can help form an epidemic level of competency which is crucial for gaining a competitive advantage in these markets.
Recommendations and Conclusion
- Conducting situation analysis: this will include company analysis, understanding organisation goals and mission, environment analysis, competitor analysis, SWOT analysis and customer analysis (McAlister & Ferrell, 2002)
- Market segmentation and defining the target market
- Developing the marketing strategy: this will include product mix strategy – product, price, place and promotion. (Dessler, et.al., 2008).
References
Hunger, J. D., & Wheelen, T. L. (2007). Essentials of strategic management. (4th ed.) Upper Saddle River, NJ: Pearson Education.
Pearce, J. & Robinson, R. (2005). Strategic management: Formulation, implementation and Control (9th Edition). New York: The McGraw-Hill Companies.
Buttle.F, (1996). Relationship Marketing & Political stability – Theory and practice, UK, SAGE
Dessler, Cole Goodman & Sutherland. (2008). Management of Human Resources. Sutherland- Second Canadian edition
McAlister, D.T. & Ferrell, L. (2002). The role of strategic philanthropy in marketing strategy. European Journal of Marketing, 36 (5/6), pp.689 – 705
Kotler, P. & Keller, K.L. (2006), Marketing Management. Pearson Prentice Hall, Delhi, India
Samiee, S. & Roth, K. (1992). The Influence of Global Marketing Standardization on Performance, The Journal of Marketing. 56(2), pp. 1-17
