Marketing Mix Of Pidilite and 4Ps (Updated 2023)

The Marketing mix of Pidilite analyses the 4Ps of Pidilite, including the Product, Price, Place, and Promotions. Pidilite Industries Limited is commonly referred to as Pidilite. It is a publicly traded company of Indian origins founded in 1951 by its founder. Pidilite is associated with the Industrial Products industry as it deals in specialty and consumer chemicals. It is the market leader in construction chemicals, hobby colors, polymer emulsions, sealants, and adhesives. Some of its competitors are as follows-

• BOC India
• BASF
• Tata Chemicals

About Pidilite

• Type: Public limited company
• Industry: Consumer goods
• Founded: 1959
• Founder: Balvant Parekh
• Headquarters: Andheri, Mumbai, India
• Area served: India and Asia
• Key people: Bharat Puri – Chairman and Managing Director, and Rakesh Kapoor – Chief Executive Officer, Consumer Products
• Number of employees: Over 12,000

Pidilite Product Strategy

Pidilite is a multinational company that deals in the manufacturing and marketing of adhesives.

The new Product Mix of Pidilite in 2023 is as follows (Source).

1. Adhesives: Pidilite is best known for its adhesives, with the flagship brand Fevicol being a household name. The product line includes a variety of adhesive solutions catering to different needs.
2. Waterproofing Solutions and Construction Chemicals: Dr. Fixit is a critical player in this segment, offering various products of waterproofing and construction-related chemical solutions.
3. Arts & Crafts: This segment includes products under Fevicryl, famous for arts and crafts applications.
4. Industrial Resins: Pidilite’s portfolio includes industrial resins used in various manufacturing processes.
5. Leather Chemicals: They offer a range of chemicals specifically designed for the leather industry.
6. Industrial Adhesives: Apart from consumer adhesives, Pidilite also produces adhesives for industrial applications.
7. Footwear Adhesives: They provide specialized adhesives for the footwear industry.
8. Maintenance, Repair, and Overhaul Solutions: This includes products for various maintenance and repair applications in industrial settings.
9. Other Consumer Products: This includes products such as M-Seal, Fevistik, and Hobby Ideas, catering to different consumer needs, from sealing solutions to creative hobbies.

Pidilite Place Strategy

Pidilite has spread its network to every nook and corner of India. Its headquarters base is in Mumbai, Maharashtra. It has several manufacturing plants at Kala Amb and Baddi in Himachal Pradesh, Vapi in Gujarat, and Mahad in Maharashtra. Pidilite’s popularity has spread to several countries, and it has opened international operations in the Middle East and Brazil via subsidiaries and overseas manufacturing plants in the UAE, Thailand, Egypt, and Bangladesh. Its products are available in Bangladesh, Sri Lanka, Indonesia, Egypt, the United Kingdom, the United States, Singapore, Thailand, China, South Africa, UAE, and Ghana.

Pidilite has a strong R&D department that helps create innovative products for the company. It has a widespread distribution network that includes the services of wholesalers, warehouses, logistic companies, retailers, and distributors to reach consumers via hypermarkets, supermarkets, discount stores, and convenience stores.

Here is a summary of Pidilite’s place strategy:

1. Extensive Domestic Network: Pidilite has established a widespread distribution network across India, ensuring its products are available in diverse retail environments, from large hypermarkets to smaller convenience stores.
2. Global Expansion: Following success in the Indian market, Pidilite has expanded internationally, making its products available in countries like the USA, UK, Singapore, Bangladesh, Sri Lanka, and several others, thereby increasing its global footprint.
3. Use of Multiple Distribution Channels: Pidilite utilizes various distribution channels, including wholesalers, warehouses, logistics companies, and direct retailers, to reach its consumer base effectively.
4. Local Partnerships in International Markets: In international markets, Pidilite often partners with local distributors and businesses, as seen in countries like Kenya, Bangladesh, Sri Lanka, and others, to penetrate these markets effectively and adapt to local demands.
5. Targeted Distribution for Different Product Lines: The company employs specialized distribution strategies for different product lines, ensuring that industrial products like adhesives and chemicals reach relevant industrial buyers. Meanwhile, consumer goods are distributed widely in retail markets.

Pidilite Pricing Strategy

Pidilite is a pioneer in its zone, with M-Seal and Fevicol accounting for more than 50% of its total revenues. It has targeted masons, constructors, homemakers, plumbers, and carpenters as its potential customers. Its manufacturing cost heavily depends on fluctuating petroleum and crude oil prices. It also faces stiff competition from several rival brands. Pidilite is a quality brand that has adopted a penetration pricing policy to reach every nook and corner of India. It has also implemented a competitive pricing and marketing strategy to deal with product prices of rival brands.

Pidilite’s pricing strategy demonstrates a keen understanding of the market dynamics and consumer behavior, aligning closely with its broader value proposition and business objectives. Here are the critical aspects of Pidilite’s pricing strategy:

1. Combination of Penetration and Competitive Pricing: Pidilite blends penetration and competitive pricing policies. This approach allows them to reach a broad customer base across various market segments, effectively penetrating new and existing markets.
2. Accessibility and Affordability: By offering products at a starting price as low as Rs.5, Pidilite ensures its products are accessible and affordable to a vast population segment. This strategy is particularly effective in deeply penetrating the diverse and price-sensitive Indian market.
3. Flexible Margin Structure: The retail margins for Pidilite products vary between 12-25%, depending on the product. This flexible margin structure allows them to adjust pricing strategies for different products and market segments, catering to a wide range of consumer needs while maintaining profitability.
4. Strategic Product Pricing for Market Leadership: Pidilite prices its products strategically to maintain its position as a market leader in the adhesives and sealants segment. The pricing reflects their products’ quality and brand value, balancing affordability with the perceived value.
5. Adaptation to Local Market Conditions: In international markets, Pidilite adapts its pricing strategy to local economic conditions, competition, and consumer purchasing power. This localized approach helps them to be competitive and relevant in different geographical markets.

Pidilite Promotion Strategy

The tagline of Pidilite is Building Bonds, which describes the company aptly. It has implemented several marketing strategies to increase its brand visibility in the consumer market. Pidilite has launched ad campaigns in electronic and print media via magazines, newspapers, portals, billboards, radio, and popular television channels. It also advertises via social media platforms like its website, other shopping portals, Facebook, Twitter, and YouTube. Pidilite is aware of the impact of a celebrity endorsement on the mindset of the common masses. It has roped in Indian superstar Amitabh Bachchan to act in its commercials for Dr Fixit and act as its brand ambassador.

It has organized creative competitions for young scholars and students like the International Creative Contest, where participants are nearly 3,000 and 800,000 in terms of schools and students, respectively. Its sub-brands have won several awards and accolades for their product portfolio and services. Best Ambient Media in 2013-14, Buzziest Brand 2014, 1st in Consumer Products, and Zee Business Brand Excellence Award have been earned by its number one brand, Fevicol.

Some Recent Video ads and Print ads for Pidilite are:

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