Parle Marketing Strategy – Marketing Strategy of Parle: Parle Company began its operations back in 1929 with only 12 people. Over the past eight decades, it has made great strides. It is now the most popular biscuit brand worldwide. Parle hired Javed Akhtar, a famous lyricist, and writer to help it reposition itself. Parle intends to increase its market share for premium segment biscuits, from the current 15% to 20% in 2017-2018 with this positioning.
Parle recently launched a campaign to promote the variety of biscuits it makes. This campaign was created because Parle, as a mother brand, was becoming less strong compared to its individual brands like Krackjack, 20-20, and so on. Parle is able to achieve its goal because of the product portfolio it has.
Parle At A Glance – Marketing Strategy of Parle
Company : Parle Products Private Limited
CEO: Schauna Chauhan
Founder: Mohanlal Dayal Chauhan
Year founded: 1929
Headquarters: Vile Parle (East), Mumbai, Maharashtra , India
Annual Revenue: INR₹13,682 crore
Profit | Net income: INR₹1,363.90 crore
Number of employees : 50,500
Products & Services: Parle-G | 20-20 Cookies | Happy Happy | Hide & Seek | Krackjack | Magix Creme | Milano | Monaco
Parle Fun Facts: If monthly production of 1 billion Parle-G biscuit is stacked side-by-side, it is believed that it would cover the Earth-Moon distance of 7.25 lakh Kms.
Marketing Strategy of Parle
NIVEA’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of NIVEA? Let us discuss.
Segmentation, Targeting, Positioning – Parle Marketing Strategy
Segmentation refers to the process of defining the characteristics and market of a subdivision. Parle employs psychographic and demographic segmentation strategies in order to understand different sets of customers and their needs. For standard biscuits that must be distributed widely, demographic segmentation is a major tool. Psychographic segmentation is used to create premium biscuits like Milano, which are targeted at the SEC A or SEC B classes.
Its customer targeting uses both differentiating segmentation strategies based on the product. Parle-G is a product that caters to all income groups, while premium biscuits are for those with middle and upper-middle-income customers.
Parle has repositioned as a value-based brand that offers biscuits of Indian origin. It is also known for creating memories.
Parle Mission Statement
Parle Vision Statement
For Parle G – “Bharat ka Apna Biscuit”. For the main brand “Naam to Suna hi Hoga”.
Competitive Advantage – Marketing Strategy of Parle
Parle- G: Parle G, one of India’s most popular biscuit brands, has a huge mass appeal. Parle G is a popular choice for morning tea and coffee. Parle G can be found in every corner of the country, and it is also exported to many other countries. Parle-G’s turnover is the main driver behind all other Parle products.
Heritage: Parle’s strong heritage of over 70 years is helping it to be competitively ahead of its peers.
Price: Keeping the price the same between 1996 and 2006 without compromising quality. Parle did this by increasing efficiency in factories, reducing transport costs, and adding more manufacturing sites. This helped Parle to become the biggest selling biscuit company in the world.
Economies: Parle is a huge brand that enjoys incredible economies of scale. Parle can be distributed by one distributor. Fixed costs are the same, while variable costs rise. This is always a good thing for a company.
High TOMA: The brand’s most important competitive advantage is its packaging. Its association with tele-series heroes like Shaktiman and G-Man made it well-known among all ages.
BCG Matrix – Parle Marketing Strategy
Parle has five segments: biscuits, confectionaries, Rusks, Snacks, chocolates, and snacks.
The BCG matrix is a star in which its segments of biscuits and snacks are prominent. Parle has a high market share, but its market growth rate is high.
Parle’s market share is low in confectionaries and chocolates and faces competition from companies such as Cadbury and Britannia.
Distribution Strategy – Marketing Strategy of Parle
Parle makes nearly 400 million biscuits per day and distributes them to over 5 million outlets. Parle makes its products accessible through many distribution channels. It distributes its products through retailers, distributors, and e-commerce websites, as well as resellers.
Brand equity – Parle Marketing Strategy
Parle, India’s most trusted biscuit company, has been around for more than 70 years. With its iconic yellow packaging and strong association with customers through advertisements, Parle has become a strong brand. Customers have referred to all other parle products as Parle-G because of its biscuit brand.
Competitive Analysis – Parle Marketing Strategy
Parle’s market is overcrowded, with many companies competing for market share. Parle holds 27.5% of the market, while Britannia has 28%. You can clearly see the fierce competition in India’s biscuit industry.
MNC players were a key part of shaping the economy of this industry, but local players and counterfeit goods are major competitors.
Britannia, Priya Gold, and others are some of the competitors to Parle.
Market Analysis – Marketing Strategy of Parle
The confectionery and baked food market are growing rapidly. This segment is especially growing in Asia markets and developing countries due to changing lifestyle eating habits.
The customer can choose from buying branded biscuits at malls and online. Strong branding building is essential to differentiate products and retain customers.
Parle is a great example of how to take the customer’s taste into consideration. Parle’s biscuits are unique and appeal to large numbers of people. Each biscuit has a unique taste, and customers can choose from any of the following: 20-20, Parle G, or Milano.
Customer Analysis – Parle Marketing Strategy
Parle customers come from all walks of life. Parle’s customers are mostly from the lower-income or middle-income groups.
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