Horlicks is one of the leading brands in the malt beverages market in India. It has a market share of about 42% in the Indian market.
It has been in the market for a very long time now and has kept giving its best and staying at the top in the market. It has gained many customers and has been serving different customers with different products.
Thus this makes us keen to know the marketing mix of Horlicks.
Before we start with its marketing mix let us see about Horlicks as a company.
Horlicks was founded in the year 1919 by James and William Horlicks. It has its headquarters in Racine, Wisconsin
Horlicks is one of the main brands of India that arrangements in food drinks from malted milk. It qualifies as being the solitary clinically demonstrated beverage that aids in the advancement of children by making them taller, keener, and more grounded.
The organization alone has caught almost half of the Indian market as far as wellbeing drinks. Although the brand Horlicks has been in the market for quite a while, it faces a solid rivalry from different organizations.
Let us now see the Marketing mix of Horlicks.
Marketing mix of Horlicks
Marketing mix contains numerous segments as centric as a part of an overall marketing plan, The parts of marketing mix contain the product. price, place, a promotion where all these elements work with one another.
It is also referred to as the series of steps and strategies that the company will take to promote its product in the market.
Let us now start by looking at the product mix of Horlicks.
1. Product mix
Horlicks serves different age groups with different products specially made for them. For example different products for kids, elders, and women.
Initially, it only produced dinks but then it started producing other health products also. It has introduced many different flavors of its products in the past year’s sone of the flavors are as follows:
- Chocolate Horlicks,
- Honey Horlicks,
- Elaichi Horlicks and
- Vanilla Horlicks.
Let us now see the price mix of Horlicks.
2. Price mix
Horlicks uses a competitive pricing policy. It prices its products so that the customers don’t have to think much while buying their product and it is within their budget.
They also use value-based pricing for some of their products because they provide quality products to their customers and the customers are willing to pay for them. The customers know the brand value and the quality of products they provide.
The prices of the products vary depending on where you get them from an example in big malls the products might be cheap than the small retail stores.
Let us now see the place mix of Horlicks.
3. Place mix
Placement of a is very essential for every business. The customers should be provided with products at all times without any shortage of any kind.
Horlicks being a strong brand it has well diverse distribution channels. It has production houses in various locations like Haryana, Andhra Pradesh, and Punjab. It has zonal heads in four metro cities.
GSK consumer health has around 700 distributors and coverage of 8 lakh retail outlets.
Lastly, we shall see the Promotional mix of Horlicks.
4. Promotion mix
Promotion is one of the key aspects to get your brand know by most of your customers in the market.
Horlicks uses different modes to promote its products in the market some of which are television, radio, social media, newspaper, magazine, etc. It promotes its product like it makes your child Taller, Stronger, Sharper.
It organizes different programs in schools, malls, and showrooms to promote its brand.
The tagline for its brand is “Horlicks, nourishment for life”.
Celebrities like Vidya Balan and child actor Darsheel Safari are promoting Horlick’s brand.
After the analysis of Horlicks, we have seen that Horlicks has a well-managed marketing mix.
It has different products for the different age categories and different needs of customers in the market.
It has been using a competitive pricing method for its products and for some of its products it uses value-based pricing for the quality of its products.
It has different marketing distribution channels in the market with over 700 distributers over the world and a well-planned supply of goods.
It has been promoting its products on all available platforms in online and offline modes. It has also used celebrities to promote its products.
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