Company Name– Parachute
Founder– Harsh Mariwala (Flagship brand of Marico)
Harish Mariwala is an Indian entrepreneur, founder and chairman of Marico, a fortune India 500 company. Parachute is a flagship brand of Marico. It is a brand name of coconut based hair products.
How It All Started
Before 1992 economic liberalization in India, the government classified vegetables oil as an essential commodity. In 1862, Kanji Morarji started a small trading business Mumbai and in 1948, Bombay oil industries setup by Mariwala family. In 1990 Marico industries Limited company formed. It is the first brand of coconut oil in the country. The journey of the oil began 4 decades ago.
In 1990s, Marico made its first serious entry into foreign markets by setting up a manufacturing plant in Bangladesh. Parachute edible oil contains 100% coconut oil where as advanced hair oil contains 50% mineral oil along with coconut oil.
Marico makes two kinds of coconut oil, one is Parachute edible grade cum hair oil and other one is Parachute Advanced hair oil. After 6 years of intensive research the product development and consumer, trial takes place in the market.
Parachute’s Marketing Strategy and Interesting Reason behind Its Grand Success
It is a market leader in its category. It has positioned itself in the platform of purity. Thus, it enjoys tremendous equity and trust with every passing generation & loyalty in the urban as well as rural sectors of India. Marico makes two different kind of coconut oil. First is the Parachute edible grade cum hair oil, and the second product is the Parachute Advansed Hair oil.
Parachute edible oil contains 100% coconut oil, whereas the Advansed hair oil contains 50% mineral oil along with coconut oil. However, one must also note that in some cases mineral oil have been known to cause cancer. Parachute Advanced contains essential oils of ylang-ylang (also known as cananga tree) to give the hair a rich and deep fragrance. It is lighter than the other coconut oil and comes in a combo pack which contains the oil along with a head massager. It is used for a revitalizing and hot champi (head massage).
The other varieties of oil are Parachute After shower, Parachute therapy to reduce hair fall and Parachute advanced starz. It is a range of hair care products specially created for 3-10 years children. The hair strength will increase up to 16% with regular use. It is non-sticky, unique science formulation of hair oil.
Parachute sells all over India both in urban as well as rural India. Parachute hair oil is sold through retailers like super markets, baniyas and kiranas shop (general stores) etc. It is also sold in Bangladesh, Egypt and the Middle East. The channels of the product are distributors to retailers and retailers to consumers.
The major factor in pricing includes coconut (copra) and oil seed input costs, packaging costs and competitors. The method of pricing is influenced by the competitive price of other hair oil brands. The promotional pricing includes 20% extra. The parachute advanced contains different ‘ml’ bottles with different price. Parachute jasmine, after shower cream, shampoo, styling gel the price of the entire product differs with its quantity.
Success of the product–
It had achieved a volume growth of about 8% in volume over Q3 FY09 in rigid packs. It is relevant to new age consumers and has used innovate and smart packaging.
Approaching of customer–
The customers approach the product for its quality and it does justice to the brand. It is the purest hair oil that is used by a vast population of the country. The transparency of the product attracts the people, which also give the fine texture and growth to every type of hair.
It advertises through print, television, Outdoor and digital. It also uses van campaigns, haats in rural areas to promote the brand. The sales promotion of 20% extra in the product was made in 200 ml. The brand ambassadors of the product are Diya Mirza, Deepika Padukone, Yuvraj Singh and Sreesanth.
The advertising of the product becomes heavy before holi and during winters every year. The Parachute Advanced campaign includes a tagline of “1 hour champi kiya!” and “Gorgeous Hamesha” in television.
The Print Media includes Magazines, 2-day print ads for parachute therapie and newspapers. The sales promotion also includes festive season promotion. The parachute jasmine oil is for 18-24 years women who wants to feel confident and wants to give traditional values and culture to her roots. The promotion includes radio campaign, which provides 45 days hair solution with parachute therapie. The internet advertising includes Facebook, twitter, Instagram and it does have a strong presence.
The rural add campaigns conducted in Bangladesh as Parachute Anti Loose Oil Rural Campaign. There is 25% conversion from the loose coconut oil usage to the Parachute Pouch Pack. The Van campaign in the villages attracts more a large crowd and is a big favourite especially in the rural areas. 75.3% of the registered customers were satisfied with the concept of 45 days therapie.
A total of 12,061 courtyard meeting, 1070 Baul performances and 490 school campaigns were conducted to reach 25, 98, 311 rural audience. The campaign converts loose oil buyers into Parachute pouch buyers in Tamil Nadu. “Impression ek din me nahi banta” is the tagline of Yuvi and Sreesanth Ad of Parachute after shower hair gel. Health+Style campaign includes a mother and a son ad for Starz cream gel. The brand tagline is “Power of 5-Har Boond Mein Zyada”, is the apt for communicating all possible alternative beauty uses for Parachute coconut oil.
The parachute oil gives nourishment to the hair with its lingering fragrance and comes in a completely non-sticky format. The oil is enriched with special warming oil, which keeps it hot from inside, gives extra care during winter, and does not freeze in winter. The 1-hour champi (massage) help to remind to the people about the benefits of oiling before hair wash.
This hair oil is made different natural ingredients, such as coconut protein gives gentle nourishments, the Vitamin Shakti fortify and strengthen hair. The strawberry fragrance is used for the children so that children will also love it. It makes hair 50% stronger and also prepares the hair for styling.
It lends itself well to the alternative usage of communication. It is suitable for both hairs as well as for skin, so you can use it for moisturizing your skin in the winter season. It also acts as a soothing balm, makeup remover, eye cream, decay fighter, lip moisturizer and more.