Radico Khaitan Limited (RKL), is one of the oldest and largest liquor brands and over the years became one of the most admired liquor brands in India. It is one of the country’s most prestigious and valuable companies with a strong brand portfolio.
Radico Khaitan has evolved from just making spirits for others into a leading IMFL company with a portfolio of reputable brands built on over 75 years of experience.
Have you ever wondered what it takes for companies like RKL to become one of the leading brands and achieve such huge success? The answer is, of course, Marketing. Marketing can make or break a company. It includes all the activities undertaken to promote the buying and selling of a product or service.
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Let’s have a look at the marketing strategy of Radico Khaitan campaigns, its target market, segmentation, digital presence, and how they attract customers and stay on top.
About Radico Khaitan
Radico Khaitan Limited (RKL) is one of the oldest and the largest manufacturers of Indian Made Foreign Liquor (IMFL) in India. One of the country’s most prestigious and valuable companies with a strong brand portfolio, Radico Khaitan is also one of the largest providers of branded IMFL to the canteen Stores Department (CSD).
RKL, formerly known as Rmpur Distillery, began operations in 1943 and over the years became a major bulk spirits supplier. Today, RKL is one of the most admired liquor brands in India. Radico Khaitan has evolved from just making spirits for others into a leading IMFL company with a portfolio of reputable brands built on over 75 years of experience.
The portfolio of the company includes over 15 brands, including four millionaires: 8 PM Whisky, Magic Moments Vodka, Contessa XXX Rum, and Old Admiral Brandy. The company’s rich history of over 75 years continues to set the business outlook for today and tomorrow.
Several leading publications, including The Economic Times, Business Today Magazine, The Financial Express, Business Standard, Forbes, and Fortune ranked Radico Khaitan Limited among the top 500 in the list of India’s most valuable companies. At a time when the entire industry and economy tried to overcome numerous challenges, Radico Khaitan became a Fortune 500 company as well.
|CEO||Dr Lalit Khaitan|
|Market Share/ Revenue||INR 3,306.67Cr|
|Vision||To be the most valuable spirits company in India with global standards, whilst at the same time committed to the environment, sustainability, and governance.|
|Tagline||It’s a promise of a million cheers for true lovers of quality rum.|
Marketing Strategy of Radico Khaitan
In India, advertising of alcoholic beverages has been prohibited since 1995. RKL has been successful in promoting its products through traditional and electronic media with innovative style and marketing strategies. They have introduced content marketing as a key element in their marketing mix. Their current marketing program is heavily focused on creating digital and electronic content.
Segmentation, Targeting and Positioning
The target audience is mainly millennials from 21-60 years of age. This is the age where most people have the urge to drink and that’s when Radico Khatin comes in. It serves as an alcoholic beverage that serves the purpose of drinking which makes teetotallers one of the happiest.
RKL has made its products available to its customers worldwide and focused on each age group and made its beverages according to their likes and preferences.
RKL made its best positioning in the market by being the alcoholic brand in India. India is known for people with fun minds where drinking is people’s choice. RKL made sure that people can drink at parties and on occasions with their loved ones.
Morpheus Celebration Pack
Morpheus Brandy signed Nidhi Agarwal, a popular South Indian actress, and model, as the brand influencer for the brand to boost its popularity with young people and audiences in southern states of India.
For the first time, a company signed a digital influencer to boost its digital footprints. The digital revolution is forcing business models to change and adapt to the new market reality.
Customers expect relevance concerning what they’re doing, and they expect it anytime, anywhere, and on the device of their choice. As a result, working with influencers allows companies to cut through the noise and attract followers to their brand. It also assists in building meaningful online conversations about their brand.
Magic Moments Vodka
The Magic Moments Vodka features Bollywood stars Jaqueline Fernandez and Kartik Aryan. For Abhishek Khaitan, MD, the campaign tries to highlight the importance of making the most of limited time. It has been created with youth in mind.
8 PM Premium Black (Music CDs)
Tiger Shroff, the dancing sensation & heartthrob of millions in India, was announced as the brand ambassador for Jazz 8 PM Premium Black Music CDs by Radico Khaitan. Music CDs from 8 PM Premium Black are an extension of India’s new premium whiskey. According to The Millionaire Club’s global rankings for 2018, 8 PM is the 4th fastest growing Whisky in the world.
Social Media Marketing
To grab the attention of brand loyalists and potential customers, RKL focuses on creating meaningful, engaging, and entertaining content. Content marketing needs to be crisp and concise to capture the shrinking attention of audiences, especially on digital platforms. The content they produce entertains and educates our users. They are available on social media platforms to raise awareness about the brand and promote their products.
RKL has 3,612 followers on Facebook, 1,411 on Instagram, 11,021 on LinkedIn, and 1,369 on Twitter. The links to their social media handles are given below.
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Radico Khaitan has endorsed several campaigns featuring various celebrities and influencers to gain popularity with their young fanbase. Influencer marketing is one of the most used strategies in marketing today. They have deals with Nidhi Agarwal, Bollywood Stars- Kartik Aryan, Jaqueline Fernandez, Sunny Singh, Tiger Shroff, etc to promote their products.
The online delivery of alcoholic beverages started during the pandemic. E-commerce for alcohol was an effective way to comply with distancing norms and reduce the chances of virus transmission significantly. It’s also hassle-free and faster in these times and can cater to a large section of the population. While it is a new concept for the industry, it is still in the development phase and has the potential to rival any existing e-commerce model. The online mode might take some time to show results, but it is expected to become a more popular and time-saving option in the future.
Content Marketing Strategies
Radico Khaitan’s content marketing strategies have evolved from creating TVCs to content created specifically for digital audiences. Since there are restrictions on advertisements of alco-bev companies, RKL has turned to digital marketing. The brand has invested about 30% of its current marketing budget in content marketing.
This ends our elaborative marketing strategy of Radico Khaitan. Let us conclude our learning below from the marketing strategy of Radico Khaitan.
What’s Unique in Radico Khaitan’s Marketing?
RKL is gaining love and support from all the places in the world. The popularity of alcohol is increasing among millennials. The uniqueness of being India’s alcohol has lessened the competition for them. Though RKL lacks in its digital marketing methods, it is still trying to evolve and grow in the digital sector.
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