Iodex
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Iodex is a heritage brand in India that has been providing topical pain relief since 1919 and remains a trusted brand, especially for back pain relief. While Iodex was originally launched in an old fashioned glass bottle with a sticky black balm, in recent years it has launched products like Iodex Headfast in a plastic bottle and translucent balm. The document discusses Iodex's marketing strategy, product line, pricing, distribution and promotional plans to strengthen its position in the pain relief market.
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Iodex
- 1. 1919 IODEX 2011
- 2. History • 'Pain should not come in the way of your life‘ • A heritage brand in India since 1919, Iodex continues to be amongst the most trusted brands in India. • One of the leading brands in the topical pain relief segment with a range of variants that provide quick & effective relief from head, neck, back joint and muscular pain.
- 3. Facts • Launched in an old fashioned glass bottle • Sticky, black, foul smelling balm • 2010 launched Iodex Headfast • Coming in Plastic Bottle, translucent colored balm, smells the same
- 4. Research Findings • Largest group of users were women suffering from backaches • While Strains & Sprains are occasional occurrences from accidents, Backache is an everyday problem caused by routine activities • Need for a backache specialist occurred Moov divided the market by usage Quickly Replaced Iodex as the market leader
- 5. Product Description Translucent green New Plastic Pack balm Quick Action Strong smell Fast Relief Sticky “Gets to work in 5 minutes” Leaves Stain No time for Pain Color combination: Utility: Pain relief Balm for Green, Yellow, White sprains, strains and body & Red pain
- 6. Existing Market Segment • For the masses (Bottom of the Pyramid) • For those in need of quick action & pain relief • For all those who prefer marketed products over home remedies and have access to it • Everyone who is suffering from any kind of pain
- 7. For a 10g Plastic Pack M.R.P : 20 Rs/- Cost per piece: 09 Rs/- Profit per Piece: 11 Rs/- Targeted Sales for 2010: 11- 50 Lac Actual Sales: 25 Lac
- 8. Marketing Strategy Document Strengths Opportunities Trusted name since 90 yrs Therapeutic Range GSK marketing network Office going youth/people Strong Brand Recall Massage Parlors In top 3 preferences of Sports Industry consumers SWOT Threats Weaknesses Sticky leftover & Strong smell Yoga & Reiki gaining popularity Packaging Design & color Misuse of Iodex Small product line Physiotherapists recommending cold/hot fermentation for pain No Effective Promotion relief
- 9. Strengths Opportunities Created a niche for backache Special formula for headaches & Only player in fragrant white cream Sprains Easily distinguishable in the shelves Different TG- Growing backache is engraved in problems amongst youth and consumer’s minds & is a synonym men of backache & pain relief Weaknesses SWOT Threats IODEX coming up with new Doesn’t give a feeling of a pain innovations, extending their relief cream because of its product line color/fragrance Yoga & Reiki gaining popularity Self application for backache is Physiotherapists recommending difficult cold/hot fermentation for pain relief
- 10. Marketing Mix Strategy Product • Novelty in product: No stains, non-sticky, Odorless • Availability: Tube, Spray, Plastic pack, IODEX patches (band-aids), IODEX mattresses, Pillows, Belts (for Neck & Back), IODEX Fermentation Packs & IODEX Soap • Small packs (sachets) • Applicators
- 11. Price • Spray, Plastic pack, tube : Competitive • Mattress • Pillow • Belts Penetration • Fermentation Pack • Patches • Applicator: 70 Rs/-
- 12. Place • Spray, Plastic pack, Applicator, Fermentation Pack & Tube: PAN India • Mattress, Pillow & Belts: Initially in metro cities • Stand Alone IODEX stores in Metro cities • GSK Marketing Network & Reach
- 13. Promotion • Print Ad Campaign • TVC’s • PR • CSR: IODEX products priced low for farmers & employees • Digital: (FB, twitter)IODEX page to discuss problems of consumers • Radio • Activities & Tie-ups: Hockey/Athletics/Football. Tie-
- 14. Print Ad
- 15. Print Ad
- 16. Print Ad
- 17. PR Some Ideas to generate good PR: Sponsoring Indian Hockey Team and build customized IODEX chairs & stands for players to relax and talk about its effectiveness Organizing Sports events/Kids camp IODEX stand alone stores providing all sort of pain relief solutions under one roof with doctors and other facilities Communicating Do’s and Don'ts when in pain, to the public in malls, villages, Pain relief camps etc.