Spice
industry of Bangladesh has drastically changed in last one decade. The complex socioeconomic condition increased the acceptance of ready-made powder spices.
Recently availability & demand of packed powder spices indicate that market
for spices product in Bangladesh is increasingly gaining momentum.
As
we know before 2000 there was no local brand of spice powder, so by identifying
the potential need & market opportunity SCPL (Square Consumer Products Ltd.) introduced quality branded turmeric powder under the brand name “RADHUNI” in 2001. The flagship spice
brand “RADHUNI” became
market leader by obtaining 64% market share & awarded as the top brand in
the local category at Best Brand Award Bangladesh 2013.
This
brand is specially targeted to both
educated urban housewives & service holders as they are the main decision makers of purchasing of spice powder
in the family. It is a high standard quality powder spice.
The
direct competitors of Radhuni are PRAN, BD, Pure, Arku & the indirect
competitors are the open spice marketers. Where all these brands positioned
themselves as a symbol of hygienic, real taste, pure taste & refined spice
there Radhuni has able to positioned themselves successfully & create a
distinctive value by showing their different attributes. The factors that help
Radhuni to position themselves successfully within a short span of time are –
quality, convenience & time saving. Ultimately, these factors drew the attention
of their target customers.
Radhuni
has achieved the straddle position by following all the competitive &
correlation POP’s of all other brands like-
- Purity, authentic taste, consistent quality & affordable
- Best selective ingredients/ raw materials
- Less time consuming
But
still Radhuni is able to portray distinguish brand image in their consumer’s
mind. The POD’s that they highlight during their communication are –
- Assurance of standard quality
- Balanced amounts of ingredients
Which
is not highlighted by any other spice brands.
As
people are more health conscious, so from the very beginning Radhuni was able
to build a strong resonance in their consumer’s life which gave the brand a
strong identity & meaning. The salience factor of the brand is developed
very creatively. The emotional advertisement appeal & slice of life
execution style illustrates the recall factor. People are able to associate the
brand more with different situations of their life.
The
competitive superiority that Radhuni has gained is their customer’s strong
feelings & attachment with the brand. Besides this vast range of customers
& successful maintenance of the satisfied distribution channel are the
multipliers that helps to create a positive mindset of their customers. The market
performance of Radhuni is quite satisfactory. The loyal customers are willing
to pay more for its strong resonance. On the other hand, they magnificently
extended their product line that gets a positive feedback from their targeted
customers. It increased the demand & for economies of scale they are able
to reduce their manufacturing cost.
According
to my observation Radhuni should focus on –
- Developing new user group
- Promotional activity should be continued
- Launching new value adding products.
Reference-
1.http://news.priyo.com/2013/11/10/bangladesh-brand-forum-honours-top-brands-90717.html
2.http://www.slideshare.net/MahbuburFaisalMrf/marketing-of-spice-powder-a-study-on-square-consumer-products-ltd?related=1
3.http://www.squareconsumer.com/radhuni_home.php
well written (y)
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