Marketing Strategy of Aquaguard – Aquaguard marketing strategy: Aquaguard is almost synonymous with water purification. Eureka Forbes is the company that owns the brand name Aquaguard and markets its water purifiers under it. Eureka Forbes itself is a joint venture between Shapoorji pallanji group of India and Electrolux of Sweden.
Eureka Forbes is a company known for its aggressive sales policies. They were the first company to take the door-to-door sale of vacuum cleaners to another level of aggression altogether. To date, you can get a home demo ordered from Eureka Forbes for their vacuum cleaners. However, let us delve further into their products under the brand name Aquaguard – Water purifiers.
Did You Know About Aquaguard?
Company : Aquaguard
CEO: Marzin Shroff
Founder: Marzin Shroff
Year founded: 1982
Headquarters: Mumbai, India
Products & Services: Aquaguard Water Purfier Serviced By Trained Professionals
Competitors: Atlas Piers of Atlanta | Alpha Foundations | Engineered Solutions of Georgia
Marketing Strategy of Aquaguard – Segmentation, Targeting, Positioning
“Aquaguard provides a clear and precise segmentation of the people who seek pure water. It is psychographic and demographic segmentation. Psychographic since Aquaguard has changed the mentality of the people who use it by providing the water purifiers with pure water. Demographic, because the Marketing method is constantly targeting key decision-makers: women in the home, purchase managers, and those who are able to make an informed decision about the purifier for their water.
The targeted approach is determined by the water’s quality. In areas where water quality is excellent UV water purifier is targeted. For towns where water quality is not good RO, or RO + UV purifier is targeted.
Due to its lengthy presence on its long-running presence in the marketplace and its top-quality quality products, Aquaguard clearly has an upper position in the minds of consumers. It’s almost a brand that is generic brand and the majority of consumers use the term “Aquaguard” irrespective of the brand they choose to purchase. With the advent of KENT, the position of Aquaguard has been changed due to the fact that both brands are competing to be at the top of mind recognition. ”
Eureka Forbes Mission Statement
Although Aquaguard itself does not have a mission, here is the Mission of Eureka Forbes.
Eureka Forbes Vision Statement
The vision of Eureka Forbes – A happy, healthy, safe, and pollution-free environment based on trust and lasting relationships with customers.
Paani ka Doctor
Marketing Strategy of Aquaguard – Competitive Advantage
Aquaguard enjoys a substantial edge in the market mostly due to being one of the pioneers in the Indian market for water purifiers. Aquaguard is a collaboration with two reputable businesses namely Electrolux and Electrolux from SWEDEN along with Shaporji Pallonji in India. Since the backing is solid the brand was able to get off to a great start on the market.
In the early years, Aquaguard aggressively took charge of the entire market through its door-to-door selling. To date, the selling strategies of Aquaguard are extremely aggressive, with a lot of incentives and awards for sellers who have impressive numbers. Aquaguard’s channels system of Aquaguard is established, however, it is in need of an adjustment.
The idea about Aquaguard being “Paani ka Doctor” or water doctor provides the most competitive advantage for the company. The company is known for its high-quality products that are backed by trust and decades of expertise behind their products. This is a competitive advantage that is difficult to overcome.
Marketing Strategy of Aquaguard – BCG Matrix
If we look at the BCG matrix of Aquaguard and look at the BCG matrix of Aquaguard, we can discover that the UV purifiers made by Aquaguard are cash cows since no other company can surpass Aquaguard in terms of the number of UV purifiers they offer.
The RO purifiers and the gravity-based water purifiers are a hit since the RO purifiers are in fierce competition from KENT and other local companies. The gravity-based water purifiers, on one side, are competing with Tata’s Swacch and pureit from HUL.
Marketing Strategy of Aquaguard – Distribution strategy
The distribution technique The strategy of Aquaguard is to go as deep and wide as is possible. The less water is contaminated the less chance Aquaguard to market the products. As of the year 2015, Aquaguard had a presence across 500 cities and 250,000 stores in India. Aquaguard is a major exporter too.
Aquaguard employs a similar channels distribution structure that is employed by other companies that sell consumer goods. There are three ways to conduct sales namely, Retailer, Sales as well as servicing dealers and online shopping. Keep in mind that we have also included Modern retailers as retail. Through its presence in all of the channels, Aquaguard makes sure that the products reach customers effortlessly.
Marketing Strategy of Aquaguard – Brand equity
With a massive part of the market, Aquaguard has significant branding equity in addition. It has an upper-most position as it has been on markets since, contributing to its brand’s recall. Aquaguard affirms that they have 1.5 million doctors who use Aquaguard products at their homes, and the usage of the term “Paani ka doctor” as in addition to the quality of its products, has been a huge factor to Aquaguard to establish itself as an extremely prominent brand in the field of water purification.
Marketing Strategy of Aquaguard – Competitive Analysis
A significant competitor to Aquaguard in recent times has been KENT. Kent was introduced to the market twenty years after Aquaguard however, it quickly gained a huge following because of its attention to RO products. When Aquaguard promoted UV, Kent started pushing RO which provided an advantage for KENT, and also the RO market share is large to KENT today.
In addition to the Kent brand, there are numerous local companies that have entered the market because of the cost-effective making water purifiers. Local players take off a small portion of the market. However, when you consider the whole market, approximately 40 percent of the market goes to local players, and Kent and Aquaguard split 60% between both.
Marketing Strategy of Aquaguard – Market Analysis
According to the analysis of competition previously mentioned, Aquaguard faces competition from highly invested players such as KENT and also from local players who can customize its water purifier. The result is that it will impact the profitability of the whole market. Since 2014, the profit of Aquaguard has dropped dramatically. This market has become very competitive with too many companies competing to compete for the same market share. Thus the quality of the product is declining as is the decrease in margins too.
Marketing Strategy of Aquaguard – Customer Analysis
The typical client of Aquaguard is someone who is educated, recognizes what is important about water, and can pay for a water purifier for his house. Because of the cost-effectiveness of gravity water purifiers, it’s also more accessible to enter the market.
Aquaguard is a significant portion of both commercial and residential customers. Customers who live in the area make use of it to purify the water they consume at their homes. Aquaguard is clear that it addresses consumers who live in the area by demonstrating the benefits of purification and a constant reminder to them that Aquaguard is the most preferred water purifier by Doctors and doctors. For businesses, purifiers have become almost essential since any issue in the water can impact the entire complex, as well as the employees and customers within the complex. Because Aquaguard is a well-known brand, the majority of commercial buyers choose Aquaguard over other brands.
In public spaces like malls and other places, Aquaguard is the preferred brand over others. It is because Aquaguard is recognized as an authentic brand and public spaces want to show off their own qualities and therefore are associated with a reputable brand such as Aquaguard.
Marketing Strategy of Aquaguard – Promotional Strategy
Aquaguard employs both an ATL and BTL promotional strategy. In BTL it is primarily based on personal sales. It also has 8000 experts who are ready to market and manage the channel in India. In addition, it utilizes points of sale advertising as well as outdoors advertising to great effect.
Within ATL, Aquaguard is known to have excellent TVC’s that have been able to convey value to its customers throughout the many years. They also claim to be extremely smart in their printed ads. Combining ATL along with BTL, Aquaguard has an effective marketing strategy.