In the previous article, we learned about the detailed SWOT analysis of Astral Pipes. In this blog, we will elaborate on the Marketing Strategy of Finolex Industries – a producer of electrical and communication cables and copper rods.
The objective is to learn and gain insights into Finolex and how it became India’s largest rigid PVC pipes and fittings manufacturer and the second-largest PVC resin manufacturer.
Marketing is a part of a company’s DNA that can either make it or break it. As the world is digital now, marketing has followed them to the digital realm as well. If you are interested in digital marketing then you should check out IIDE’s Free MasterClass on Digital Marketing 101 by CEO and Founder, Karan Shah.
In this entire blog, we will learn the Marketing Strategy of Finolex Industries. But before this let’s begin with the company’s story, target audience and digital presence.
About Finolex – Company Overview
Finolex Cables Ltd is a producer of electrical and communication cables and copper rods. The Company’s business section includes Electrical Cables, Communication Cables, and others. The Electrical Cables product includes 1100 volts PVS insulated cables; motor winding PVC shielded cables and three core flat cables, etc.
How It All Started –
In the year 1945, two young and skilled brothers P.P. and K.P. Chhabria moved to Pune from Karachi in search of employment and within six months set up a small shop. Their shop used to sell electric cables. Fortunately, their retail business became quite successful. A large order in the mid-1950s from the Defence Department for wire joins for trucks and tanks boosted their confidence and they decided to start creating cables themselves.
After starting as a small-scale manufacturing unit in 1956, they factory-made PVC insulated cables for the auto industry. The Finolex brand was intuitive from “Fine” and “Flexibles” and “O” with an electric arc across it – suggesting the electrical cable business the company was in. Their persistent search for growth and tough persistence put them in some difficult times. In 1972 the enterprise was converted into a limited company.
After that, there has been no looking back and after a public offering in July 1983, Finolex Cables Limited boarded on a continuous process of expansion and modernisation which enabled it to become the largest cable manufacturer in the country.
Their relentless quest for growth saw the brothers establish Finolex Industries Limited (FIL) in 1981. The company is required to manufacture Rigid PVC Pipes and Fittings at Pune, which find large-scale applications in the agriculture sector. In a smart move towards a backward combination, the company has set up a PVC resin manufacturing facility at Ratnagiri around the West coast of India.
| CEO | D K Chhabria |
|---|---|
| CMO | Amit Mathur |
| Area Served | India |
| Industry | India’s largest backward integrated and most trusted manufacturer of PVC-U pipes and fittings for the plumbing-sanitation and agricultural sectors. |
| Market Share/ Revenue | Revenue: ₹46.47b, Market cap: ₹92.73b |
| Vision | To maintain Leadership by being the Largest and most Diversified Cable Company in India through Total Quality, Latest Technology and the Best Customer Service. |
| Tagline | Gets people Together |
Marketing Strategy of Finolex Industries
Let’s learn about the marketing strategy of Finolex! And how Finolex carries the marketing campaign etc.
Segmentation, Targeting, and Positioning
Segmentation – Market segmentation is the process through which Finolex Industries decides to segment the overall market into smaller segments and groups that have similar attributes, buying behaviour, socio-economic background, etc. This is done to reach out to the group of consumers more efficiently and effectively. Within the pipes and fittings segment, pipes contribution is 90.7% in volume terms and 83% in value terms which is greater than fittings.
Targeting – After the identification of various consumer segments within the marketplace, Finolex Industries needs to target a specific market. The choice of the target market is dependent on ten critical factors.
Position – Finolex Industries needs to position its product in such a way that it creates a – distinct image and provides a specific identity/reference point of the product and services in the customer’s mind. Brand positioning and product differentiation have become increasingly critical because of the driving down of production costs in the Fabricated Plastic & Rubber industry and the direct access to consumers using e-commerce and other online retailing strategies.
Marketing Campaigns
- Torchbearer of Waters Campaign –
Finolex Pipes took a social media stand, demonstrating their brand as the torchbearers of water. The campaign uses a practical approach to help people question what is truly precious, through the campaign tagline – Would water be more precious if it came in this shape?
To show this idea, water, from its fluid form was moulded into figures that attract all our attention- expensive iPhones, large homes, diamonds or even our beautiful body, baby or livelihood. The brand strived to shed some light on the issue through this campaign by separating the things that drag most of our attention with water.
2. No Stress Finolex –
Alt Text – Image of the new brand ambassadors
On 17th May 2022, Finolex Cables Ltd, India’s leading manufacturer of electrical and telecommunication cables, introduced Bollywood superstars Kartik Aaryan & Kiara Advani as their brand ambassadors while announcing a brand refresh with the launch of a new 360- degree campaign – “No Stress, Finolex”. The new campaign will showcase the diverse product range of ceilings and fans, Led lights along with electric cables and wires in 3 TVCs featuring the two actors.
3. Finolex Pipes and Ogilvy come together to create a new campaign –
The new advertising campaign conceptualized by Ogilvy consists of a series of witty ads that feature former cricketer and master blaster batsman, Virendra Sehwag. The central campaign idea is that people tend to forget who is behind many things in life that stand the test of time – just like Finolex’s long-lasting pipes. Viru brings this idea alive across four funny, enjoyable and memorable stories. The campaign was released on 21st April 2021 on television and digital platforms.
Social Media Marketing
Finolex Industries is active on Social media platforms like Facebook, LinkedIn, Youtube, and Twitter. Facebook and Instagram are social media platforms that the majority of people use. The company used to post their upcoming products and other related stuff on the platform. The posts contain most of the launching products and their promotion. On their Instagram account, they have 14.8K followers. Indian brands like Lifebuoy with their ‘Help a child reach 5’, ‘India Ke Hunger ki Bajao’ by Ching’s Secret or #FloatABoat by Paperboat, plenty have managed to create a niche for themselves through these initiatives; while probably Finolex Pipes hasn’t reached that level yet, it has joined the league of the giant brands who managed to grab social media limelight and get their message across to their audience.
Currently, the brand has counted a total reach of 2614312, 3243498 total impressions, shared 585 ties and garnered 489229 likes to their campaign.
SEO Strategies
As per the SEO data ranking, if the number of keywords – below 500 is bad, above 1000, is good, and 10,000+ is amazing. Now, as we can see, finolex.com has 41216 organic keyword traffic which is considered fabulous. That means the digital marketing of finolex-India is gaining the best number of insights.
Also, the traffic per month is more than 109k+ which is known as the best traffic. Hence, finolex is the top pick when it comes to the SEO strategies of the company.
Influencer Marketing
Finolex Industries just did a collaboration with celebrities Kartik Aaryan and Kiara Advani in May 2022. They have also collaborated with cricketer Virendra Sehwag earlier last year. They have also collaborated with many YouTubers and bloggers.
E-commerce Strategies
In talking about the e-commerce strategies of Finolex it has a website and provides both b2b and b2c marketing with its products. Finolex also has a website for selling its products.
Mobile Apps
Finolex has various apps like
- Finolex Electrician
- Finolex Dealer
- Finolex Samruddhi
- Finolex Konnect – It is used to fluently connect with the product.
Content Marketing Strategies
Finolex is veritably active on its social media platforms. Finolex pipelines have a huge no. on social media. They post content on various updates of their products. Their post contains the maturity of their forthcoming products, their new strategies, dispatches, etc. Its source of advertisement can be seen on colourful platforms like Facebook, Twitter, and youtube.
This ends our elaborative marketing strategy of Finolex Industries. Let us conclude our learning below from the marketing strategy of Finolex Industries.
Conclusion – What’s Unique in Finolex – India Marketing?
In the marketing strategy of Finolex Industries, we saw that Finolex Industries is gaining love and support across India. Finolex Industries is successful in building lasting relationships with customers and providing them significant opportunities. The uniqueness of Finolex Industries is that they focus on all segments of society equally & they have steadily grown till now. Their powerful marketing strategy is to uplift underserved and unserved segments of society. Though Finolex Industries is on a growth path in its digital marketing, it is still trying to engage and grow in the digital sector.
Almost every other firm, like Finolex Industries, is striving to boost its digital presence and, as a result, is looking for digital marketers. Check our Online Digital Marketing Course if you want to learn more and improve your skills. Alternatively, you can enrol in one of our free online masterclasses led by IIDE’s CEO, Karan Shah, to gain insight into the field of digital marketing.
We hope this blog on the marketing strategy of Finolex Industries has given you a good insight into the company’s marketing strategies.
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