Introduction Parachute Oil

PARACHUTE is the flagship brand of the MARICO Company. Marico has established this brand in 1987.Till establishment Parachute has captured the hair oil market. Marico industries one of the largest FMCG company in India, offering a customized brands, catering to the needs of the target audience. Marico also has a very strong nationwide network, which makes the brands available for the customers. Ultimately, for a FMCG company distribution is the core focus area. Marico is well known for its brand, Parachute coconut oil. Parachute is one among Indias Top 100 Most Trusted Brands and is the worlds largest packaged Coconut Oil Brand.

Products: Edible Oil, Hair Oils, Skin Care, fabric Care.

Literature Review

First Branded coconut oil in the country. Journey began 4 decades ago. Switch from Coconut oil in Tins to Plastic. 1996- Makeover at 2 levels - Rational Nourishment, proteins and vitamins - Emotional Nurturing, Caring & mothers love. Parachute comes under the flagship of Marico. Parachute is the market leader in the branded hair oil market with a market share of around 53%. The brand was established emphasizing Caring & Mather- Daughter relationship. This is a 1500 crore industry which is dominated by unbranded oils. Marico in early 1990s made a bold step in launching a brand in this segment. Parachute is premium edible grade coconut oil, a market leader in its category. Parachute is positioned on the platform of purity. Parachute pioneered the switch from coconut oil sold in tins to plastic.

Background- Marico 1862- Kanji Morarji started a small trading business in

Mumbai.

1948- Bombay oil industries setup by Mariwala family. 1990- Marico Industries Ltd formed.

4 As of Parachute Oil in Rural market

1. AVALABILITY Parachute coconut oil

Premium edible grade coconut oil Positioned on the platform of purity Innovations in packaging for user friendliness and aesthetics

Parachute After shower

Non- sticky Anti-dandruff Makes hair 50% stronger Styles hair

Parachute Advansed Starz

Made from natural ingredients Coconut Proteins- For gentle nourishment Vitamin Shakti- Fortify and strengthen hair

Parachute Jasmine
Light, fragrant oil that can be used every day to nourish and style your hair. Gives healthy, non- sticky, free flowing & fragrant hair

2. AFFORDABILITY
Parachute Coconut oil 500ml- Rs90 200ml- Rs39 20ml - Rs5 Mini - Rs1

Parachute Jasmine

300ml- Rs72 150ml- Rs46 100ml-Rs29

Parachute Advansed Starzz

100ml- Rs54

Parachute Aftershower

150ml- Rs62 (Regular) 50ml- Rs35(Regular)

3. ACCESSABILITY ChannelsDistributors Retailers Consumers Retailers includes- Kirana stores, Medical shops

CoverageAll Indian Market

Urban Semi- Urban Rural markets- primary focus.

4. AWARENESS
Wall painting Endorsement by celebrities like Deepika Padukone, Diya Mirza, Yuvraj, sreesanth Television- 1hr champi kiya, Goregeous Hamesha (parachute Advansed) Sales promotions 20% extra, festival season promotion Parachute is sponsors jatra (open-air folk theatres) to facilitate an increase in parachutes market presence in rural areas.

Partnership in each of them would cost the company anywhere between Rs 25,000 & Rs 65,000 depending upon the troupes that are hired. Discount coupons can be distributed among the spectators.

Tamper-proof Packaging. Covered more than 200 towns each in Gujarat, Maharashtra, Rajasthan & Punjab. Sponsored all social causes. Used pamphlets in theatre plays in towns of Kolkata. Parachute oil have been promoted through haats.

Strategies for Rural Market

Challenges - Parachutes Brand Equity did not work in the Brand Extensions like Hair Gel, Shampoo and Hair Cream + Gel - Parachute: After shower hair Gel- the Yuvi- Shreesanth AdImpression Ek din me nahi banta. - Print Ads & ads on Bus Shelters failed to market the product adequately. - Diversions from Core Product offering not gain adequate response.

Offering Best Strategies Applied So Far They changed pack shapes to one that is sleek, modern and aesthetic. Flip top cap to ensure safety & purity of parachute oil easy jar of parachute to facilitate usage during winters. Parachute mini a bottle shaped sachet sold at an MRP of Re 1 20ml parachute a Rs 5 that enables loose oil users to upgrade.

 Success Story - Relevance to the New Age Consumers through innovation in Packaging and New Product Development. - Parachute achieved a volume growth of about 8% in volume over Q3 FY09 in rigid packs. - Parachutes share in the coconut oil category for the 12 months ended December 09 was 45.9%. - In 2012 parachute has bagged the market share 53%. - A study by Marico showed a 25% conversion from loose coconut oil usage to Parachute Pouch Pack, post van campaign and a substantial increase in sales from the campaign areas.

Communication: (Modes of communication)

- It advertises through Television, Print, Outdoor, Digital, Radio. - Wall painting. - It also uses van campaigns, Haats in rural areas to promote the brand. - Rural add campaigns- Parachute Anti Loose Oil Rural Campaign.

 Ads of Parachute Oil

Recommendation
Parachute Coconut Oil is a market leader in its category & one of our oldest brands, Parachute coconut oil today stands for purity & quality. Over the years, the brand has seen a lot of innovations in packaging, sizing and tamper-proofing by this Parachute enjoys enormous loyalty in rural sector as well as urban and semi-urban sectors.

Marico followed innovation as a major strategy in building Parachute brand. The following are some example. 20 ml Parachute - an Rs 5 SKU that enables loose oil users to upgrade to Parachute.

Flip Top Cap for Parachute bottles to enhance the safety and

protect the purity of Parachute

Parachute Mini - a bottle shaped small pack being sold at an MRP of Re. 1

Easy Jar of Parachute to facilitate usage especially during winters

the strategy followed by the company and the quality of the product offers a customized product in all seasons, to grab the price conscious customers and to provide value for money.

Other extensions are:

Brand name: Parachute Natural shampoo Positioning: On the platform of Naturals which makes hair healthier. Brand name: Parachute Advanced refined hair oil and Parachute Jasmine Target audience: Young consumer. Positioning: Focuses upon the fragrance aspect of the oil.

Bibliography

 Wikipedia Marico Websites Parachute coconut oil Websites