siddhalepha balm - marketing strategies

SIDDHALEPA BALM

ANALYSIS OF MARKETING STRATEGIES

Group members

• Pervin Jayawardena• Hesara Saranga• Sachin De Silva• Yashodara Sivalingam• Koshila Gunawardhana• Maheshi De Silva

Content

• Introduction• Product • Price • Place • Promotion • Areas to be improved

Introduction

Siddhalepa Balm

• Siddhalepa Balm is a herbal formulation based on Ayurveda pharmacopoeia chronicled over 4000 years ago (2000 BC).

• The balm was researched and developed 60 years ago and introduced to traditional Ayurveda physicians for clinical trials in 1932.

• The balm was introduced to the market in 1934.

Product

Product mix

Related type

• Consumer product -• Tangible product• Durable product

Customer need addressed by the product

Curing Illness (Ayurvedic herbal medicine)

• Soothes sports related soreness.• Provides temporary relief from colds and flu.• Relieves common pains.• Aids in relieving rheumatic discomfort.

Levels of the product

• Core level natural pain relief (Ayurvedic herbal medicine)• Actual level -Quality -Features and application -Ingredients -Branding -Design /appearance -Packaging or the wrapper • Augmented level oil and an inhaler

Product life cycle stage

• Siddhalepa balm is in its maturity stage

STP

Segmentation

Behavioral base

-Benefit sought -usage rate

Targeting -follows Mass Market Concept

-undifferentiated strategy

   Positioning “The Ayurvedic doctor that should be in

every household”

Price

• Siddhalepa offers to the market different sizes of balm bottles under different prices.– 2.5g - Rs.25/=– 5g - Rs.40/=– 10g - Rs.65/= – 25g - Rs.155/=– 50g - Rs.240/=– 100g - Rs.500/=

pricing strategies• Locally used pricing strategies are value based pricing

and competition pricing

• In the case of foreign market an additional strategy used is premium pricing to prove the quality of the product.

• Premium pricing comes as a result of considering the value and quality of the competitive products on the market. – Zandu balm – USD 10/-, Sewanti – USD 20/-, Siddhalepa –

USD 14/-

Price allowances and discounts

• No discounts are provided usually for single pieces.• In foreign markets and online purchase, for 2 pieces 10% for 4 pieces 15% for 6 pieces 20% • In local markets when purchased in bulk discounts

are allowed accordingly.

Competitors and the price comparison

wgt Rs

2.5g 25/-

5g 40/-

10g 65/-

25g 155/-

50g 240/-

100g 500/-

wgt Rs

15g 75/-

50g 200/-

Siddhalepa Balm

wgt Rs

3g 30/-

7g 50/-

20g 140/-

50g 250/-

Vendol Balm

Link Balmwgt Rs

5g 42/-

9g 70/-

20g 135/-

45g 250/-

Iodex Balm

Place

• Use both direct and indirect channelsFor the remotest villages

island wide distribution

Hettigoda Industries (Pvt) Ltd

online through E-commerce web sites

Coverage strategy

Marketers generally adopt one of the following three general market coverage strategies.– Undifferentiated Marketing– Differentiated Marketing– Concentrated Marketing

• Currently Hettigoda industries an island wide coverage. Therefore among this coverage strategies most suitable undifferentiated marketing for the Hettigoda industries.

Promotion

• Promoting the brand both within the country and outside

• In Sri Lanka, the brand has invested more than Rs. 300 million over the past few years

• In Germany, it has invested over €1 million

• The focus of its promotional campaigns has been on the natural value of its products.

• it is also known for its use of innovative marketing strategies.

Ex - pilgrimage cities such as Kataragama, Seenigama, Getabaruwa and Mahiyanganaya, a 24-hour free medical-service camp has been set up.

• Currently available promotion methods - Education about the product is given through websites, through social welfare religious events, through environmental awareness, through developing hospitals temple, through radio newspaper internet advertisements)

Websites www.siddhalepa .com

Social welfare religious events

Advertisements

Social media www.facebook.com/siddhalepagroup/

https://twitter.com/hashtag/siddhalepa

Environmental awareness

Areas to be improved

• Siddhalepa Balm stick or Siddhalepa sprayer.• Changing the packaging of the product. • Changing to a pleasant fragrance.• Introducing a new TV commercial .• Two products for both kids and adult.

Introducing a new TV commercial

• Scene 1 - Two frames in which a family is explaining what they do briefly (one frame in which every family member explains and in the other we are viewing there experience.)

• Scene 2 – They say that it’s really hard and not easy to balance all these work at once and they are facing with lots of aches and pains at the end of the day (two frames in one they are explaining and in the other we are viewing their daily routine where they finds it hard to balance and she is facing with lots of aches and pains.

• Scene 3 - The frame settles in to one frame where the family concludes it that though it’s tough and really hard to balance all the work at once and though they are facing with lots of aches and pains them faces it with great ease.

• Scene 4 - Concluding that in every aches and pains and every stressed situation they don’t missed to keep there one common friend closer to them the Siddhalepa balm (All the family members views the Siddhalepa balm individually in to the screen and the advertisement ends)

THANK YOU !!