The report studies the market for the Axe range of Deodorants in India. Axe, a brand marketed by M/S. Hindustan Unilever Ltd. (HUL) in India, holds the market leader position in the nascent Indian deodorant industry. Though general information regarding market, image positioning etc. will cater to the complete Axe line of deodorants, product specifics will be restricted to the bodyspray segment alone.
The report starts with an overview of the Indian market for Deodorants over the last 4-5 years, with relevant supporting quantitative information. The overview also projects market performance and potential for the next 5-6 years.
We then identify the multiple segments that make up this market for deodorants using relevant criteria that will involve the demographic, psychographic and behavioural characteristics of the consumers. Segmentation will yield us a plethora of segment combinations. Among these segments, we will analyse only those in which Axe is active because of the best opportunities available. These are called ‘Target Segments’ and the process is called Targeting. Specific reasons for the targeting become clearer once we appreciate the image that Axe carries and the specific value proposition it conveys to its target consumer, or, in other words the brand Positioning for Axe. Thus, the STP (Segmentation, Targeting, Positioning) model described above helps us comprehend the marketing process for Axe at a much more granular level.
In the background of the observed target market scenario for Axe, we start with the analysis of the offering by analysing each of the following solution entities: ØThe Product Offering
The above model, also popularly known as the 4Ps approach, is used to analyse the marketing tools that HUL uses for influencing consumer-buying behaviour.
The SWOT analysis that follows highlights and analyses the various Strengths, Weaknesses, Opportunities & Threats for in the market for Axe and the way Axe has managed in dealing with each of these elements.
2.The Deodorant Market Scenario in India
The deodorants market is defined as the market for all anti-perspirant products in the form of Aerosols, Sticks and Solids, Deodorant Creams, Deodorant Gel, Body Spray, and Roll-on Deodorants. The pie chart below depicts the dominant share that bodysprays hold in the overall deodorant market in India.
% Market Share by Value in the Deodorant Market, 2007
Going further, we scan the market for deodorants to perform broad qualitative and quantitative opportunity assessments through the PEST Analysis.
The following points have been working for India on the political front: ØIndia has been a largely stable democracy without any major internal or external conflicts for an extended period in the last 60 years since its independence ØSuccessive Governments have adopted a pro-liberalisation approach since the market reforms were initiated in 1991
The following concerns exist in the Indian political scenario: ØMarginal regional politics getting undue importance
ØEconomically Infeasible Measures are at times undertaken at the cost of Political Expediency ØOne of the concerns with the coalition arrangements has been the dilly-dallying on implementation of crucial national policies due to lack of unified vision among the coalition partners Summarizing, though India currently takes longer times for policy implementations due to coalition compulsions, the overall intent is tilted towards a more open market policy that will be favourable to the FMCG market in general and, consequently the deodorant market as well. The following passages evaluate the opportunity available along the socio-economic and technological dimensions.
The deodorants market in India is headed for big growth, with awareness, and consumer attitudes...