Marico SWOT analysis – SWOT analysis of Marico: Marico is a firm that operates in the field of consumer products with its headquarters in Mumbai, India. At the present, the company offers its items across Bangladesh, Egypt, South Africa, the Middle East, Vietnam as well as Malaysia. Marico has a solid presence in a variety of segments of FMCG which includes a range of appealing products i.e. Hair & Care, Livon, Black Chic, X-Men, HairCode, Saffola, Nihar, Parachute, Hercules, Isoplus, Thuan Phat as well as Code 10 in addition to numerous other products that aid in to improve health, fabric health grooming, and health, etc.
The company had an annual profit in the range of INR 59 billion during the fiscal year 2016-2017. The company is known for its solid Indian ethics and its unwavering dedication to excellence and quality Marico is also described in the context of setting the bar regarding the practices of managing personnel.
Marico fun facts: Marico sells over 70 million consumer packs every month.
About Marico – SWOT analysis of Marico
CEO: Saugata Gupta
Founder: Harsh Mariwala
Year founded: 2 April 1990, Mumbai
Annual Revenue: INR 8048 Crores
Profit | Net income: INR346 Crores
Number of employees: 1,631
Products & Services: Personal care | Skin care | Convenience food
SWOT analysis of Marico – Marico SWOT analysis
SWOT Analysis Of Marico is brand-based. SWOT Analysis of Marico evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Marico’s SWOT Analysis. Below is the detailed SWOT Analysis of Marico.
Let’s talk about Marico’s SWOT assessment.
Strengths of Marico – Marico SWOT analysis
- Strategy: The story of the growth of Marico is one in which strategy has allowed the brand to develop through numerous profitable products that have changed from a mass market into a niche market. By implementing the right tactics, Marico transformed the company from being an Indian business to becoming a global brand by making sure that its products are value-added.
- Parachute: Marico has a large part of the success it enjoys to the name that was created by the coconut oil company Parachute which has made it a household brand and gained the trust and respect of its customers and other stakeholders. The company made use of the oil and began developing several variations for it, including shampoos, oil-based serums, and gels using the popular brand to establish itself in different sectors.
- Targeted: Most of Marico’s brands target small-scale segments within crowded market areas. For instance, Saffolla is looking at heart health and health care in a crowded market for edible oils, Mediker at the removal of lice in the shampoo market or Livon for smooth hair. All of these, like the other products that are top sellers of the company, focus on the market’s niche requirements efficiently.
- Concentrate on categories that are not needed: Marico always tries to examine categories that multinational corporations might not consider interesting, like fabrics conditioner, anti-lice shampoo, or hair care for ethnic groups. What multinationals consider to be marginal categories can be targeted by companies as main categories, which helps to avoid competition to a great extent.
- Diversification: Most of Marcos’s product lines are diversifying rapidly. For the hair care segment, the company has expanded into categories such as hair oils creams for hair, anti-dandruff products shampoos, gels for hair, and serums. The brand Saffola which was originally an edible oil now has added wheat flour, salt as an additive as well as Oats. The desire for diversification has resulted in the explosive growth of brands.
Weaknesses of Marico – SWOT Analysis Of Marico
- Product Failures: Marico has had a number of product failures, such as those of the Parachute Hot Oil or the Saffola snacks. These mishaps have turned out to cost the business and resulted in losses.
- Inability to establish an image that is premium: Marico has been trying to establish itself within the premium segments of the market with various new product launches and acquisitions. But the company hasn’t been able to establish an impact that is successful on the premium market since consumers generally view Marico’s brands Marico as low-cost brands. The investments will cost Marico over the long term.
- Too many new products come out: Marico has always made it a priority to introduce more than one product per year, and this tradition continues. However, at the moment Marico has too many products within the product portfolio and presence in many industries that it’s becoming more difficult to concentrate and allocate resources to every one of the.
Opportunities of Marico – Marico SWOT analysis
- Growth in emerging marketplaces: Instead of looking at established markets, the bulk of Marico’s expansion efforts have been to enter emerging markets such as Egypt, Vietnam, Bangladesh, etc. These are markets in which there is a possibility of rapid expansion in all types of consumer goods that move quickly.
Threats of Marico – SWOT analysis of Marico
- Chemical-based contents: Customers across the world are concerned about the dangers of the chemical additives used in consumables, and this has resulted in a shift of preference to organic products. This could be a major challenge in the coming years for companies that operate in the FMCG sector.
- Competitors: Marico faces many companies such as HUL, P& G, Nestle, and ITC.
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Overview Template of Marico SWOT analysis
Marico Limited is a leading consumer goods company in India, specializing in health, beauty, and wellness. It has a long history of working with retailers in rural areas. Saffola, Silk & Shine, Hair & Care, Sweekar Edible Oil, and after Shower Gel is its most satisfying brands/products. In order to maintain a stronghold in the market, it should consider incorporating herbal ingredients into its products.
The SWOT analysis performed by the company aided in the formulation of key recommendations, which include the establishment of a new vision and strategy, as well as adhering to current performance indicators.
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