A Strategic Marketing Plan for Horlicks Bangladesh
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GSK is a leading pharmaceutical company in Bangladesh with a market leader position in health food drinks. Horlicks is their iconic brand with a purpose of nourishing children's potential. The market for malted milk drinks is growing in Asia due to increasing health consciousness. GSK uses a three-level indirect distribution channel and has a 55% market share in health food drinks. However, their advertisements claiming products make children 'taller, stronger, sharper' have been banned. The document outlines GSK's marketing situation, objectives, segmentation, targeting, positioning, and marketing mix strategies.
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A Strategic Marketing Plan for Horlicks Bangladesh
- 1. A MARKETING PLAN FOR BY GSK
- 2. Globally one of the leading Pharmaceutical company GSK Bangladesh started in 1949 Market Leader in Health Food Drinks (HFD) Iconic brand: Horlicks Total employee 771 Sales or revenue at 4.82 B CURRENT MARKETING SITUATION GSK BANGLADESH
- 3. Brand Purpose: To Nourish The Potential of Children TALLER STRONGER SHARPER
- 4. CURRENT MARKETING SITUATION CURRENT MARKETING SITUATION The market for malted milk is growing considerably In Asian countries such as Bangladesh. More and more people are getting health conscious, And getting to know about the benefits of Malted Milk But there are few organic products in the malted milk market.
- 5. Macro Environment Micro Environment ENVIRONMENT Demographic Economic Natural Political Technological Company Supplier Intermediaries Customer Competitors
- 7. COMPETITOR ANALYSIS (Glaxose D, Complan and Boost) PRODUCT PRICING PLACE PROMOTION G C B Glucose Based drink Additional to or substitute of milk Vitaminised energy drink Product line pricing Product line pricing Market Penetration pricing Indirect Distribution channel Indirect Distribution channel Direct Distribution channel Sports icons, All media Sports icons, All media Sports icons, All media
- 8. Distribution Three-level indirect channel Manufacturer Agent RetailerWholesaler Customer #DISTRIBUTION & SALES
- 9. Distribution Objective: #DISTRIBUTION & SALES Increasing coverage Doing long-term business with many small retail outlets
- 10. Sales Generating DISTRIBUTION & SALES Targets are set by line managers: For Wholesale For Retail Incentives are paid if targets met Commissions are given to wholesale outlets
- 11. CURRENT MARKETING SITUATION CURRENT MARKETING SITUATION SWOT ANALYSIS Strength & Weakness Opportunities & Threats
- 12. • Global brand image • Scientifically developed & quality products • Own energy conversion project • Penetration of market • Strong distribution network • 55% market share in HFD • Smart portfolio of diversified products • Multiple variants for targeted segments • CSR activities • Localized production • Lower price than competitors Strength Weakness • Recruits no female staff • High price compared to ingredients used • Done little advertisement campaigning • A milk drink containing 1/4th sugar, Diabetes patient in BD- 10 Million • Poverty rate- 21.8% (2018) SWOT Analysis
- 13. Opportunities Threats SWOT Analysis • Parents concerned about nutrition • Untapped markets- Blue collar employees • Developing sustainable growth strategy • Bringing more product varieties • Full-fledged producing in Bangladesh • Few competitors in HFD • Weaker competitive position • Laws restraining business • Wrong perceptions from advertisements arising uncalled lawsuits • No local competitors
- 14. Objectives # Objective & Issues More engaging promotional plans Become an inclusive brand Grow the market share in current marketIncrease social media presence Penetrate more market layers
- 15. Issues # Objective & Issues The advertisement ‘Taller, stronger, sharper’ being banned One forth sugar in total ingredients Milk availability improved and HFD (Health Food Drink) decreased
- 16. 1: SEGMENTATION Demographic Psychographic Behavioral STP ANALYSIS
- 17. DEMOGRAPHIC SEGMENTATION GENDER Male: A neglected and less conscious segment in terms of healthcare Female: More lucrative and conscious segment in terms of healthcare. This segment is targeted more by brands.
- 18. DEMOGRAPHIC SEGMENTATION AGE GROUPS 4-9 Years: most sensitive users, unaware of the products they consume. Most important growth stage of life 9-30 Years: More conscious about trends than benefits, tends to try new products and switch brands to experiment. 30-60 Years: Interested to maintain physical fitness and need high quality protein and antioxidants. Above 60 Years: No interest in health drinks, but want a nutritious diet.
- 19. PSYCHOGRAPHIC SEGMENTATION SOCIAL CLASS Lower Class: Healthcare is rather a luxury than a necessity and that is why they do not invest much in it Middle Class: Conscious about health care and prefer budget friendly products. Upper Class: Brand conscious.
- 20. BEHAVIORAL SEGMENTATION BENEFITS SOUGHT It works as a refreshment. Ensures health betterment Helps regain energy Ensures growth To follow the trend of health consciousness
- 21. 2: TARGETING AGE GROUP 4-9 Years 9-30 Years 30-60 Years GENDER SOCIAL CLASS BENEFITS SOUGHT Male Female Lower class Middle class Upper class Nutritious health drink
- 22. DIFFERENTIATION DIFFERENTIATED MARKEITNG Given that Horlicks provides many variations of its malted milk powder market, and its goal is to create innovative new products and making them available on a large scale, it’s not surprising that Horlicks would pick up differentiated marketing; otherwise known as segmented marketing.
- 23. DIFFERENTIATION PRODUCT DIFFERENTIATION IMAGE DIFFERENTIATION Product attributes and benefits Customer Orientation
- 24. POSITIONING POSITIONING STATEMENT Taller, Stronger, Sharper VALUE PROPOSITION From more for less to more for much less.
- 25. Promotion • No Aggrresive Promotion or Advertise • Advertising Strategies: • Slice of Life • Lifestyle • Scientific Evidence • Testimonial or Endorsement Price • Monipolistic Market • Follows Value Added Pricing • Can Choose segmented pricing Place • Communication Process and a Strong Network of Distribution • Friendly Relationship between GSK and Mutual Foods Marketing Mix Product • Malted Milk Line of Products • Brand Can Enter Some More Market Segments • More Variation, such as: Mini Pack at Cheaper rate
- 26. Action Program Product life-cycle BCG matrix Porter’s Five Forces Model Promotional Activities Sponsorship & Partnerships Advertisements
- 27. Product life-cycle of Horlicks
- 28. BCG Matrix
- 29. Porter’s five forces model
- 32. New Flavors and Packaging New Advertisement Free Seasonal Accessories Sponsorships and Partnerships
- 34. THANK YOU