Pidilite in India is a market leader in the adhesive market with a 70% market share. How did Pidilite achieve this brand loyalty that we remember adhesive as Fevicol? like we remember instant noodles as Maggi. Let us go back in time.
The carpenters faced a lot of problems with the adhesive in the past. But before the problems arise, let us understand the math of the adhesives used in their business. The carpenter just spends 2 percent of his total cost on adhesive. But at the same time, this adhesive is very important for the furniture to stay intact for years.
Coming back to problems, in the past, the adhesive was made from animals and was required to be heated up before use. The entire process was very tedious, and a worker needed to spend his entire day on it. Despite the very small share of cost, this cost was increased by the labour cost of one day’s work. Pidilite identified the problem and went straight to carpenters with their easy-to-use adhesive, which was made after many iterations and didn’t require heating up. This saved the worker time and money, as the fevicol was Rs 500 less per dose than the traditional one.They also created the Carpenters Champions Club and organised events. These events turned into a source of personal and professional growth. growth of them as individualsThis close connection with caretakers made it possible for the company to hear feedback from them. This will lead to the creation of new products for the market that will solve the needs of the consumer. They developed three new products: fevicol marine, fevicol heatx, and fevicol speedX to solve the problem of furniture exposure to water and sunlight. Pidilite penetrated more of the market and went to Tier 3 and Tier 4 cities with the funniest and most remarkable marketing campaigns. Pidilite acquired some companies even in foreign markets, such as Dr. Fixit in the waterproofing segment. All this led to the growth of the company to the extent that it gave 14000% growth returns to its customers over the years.Comment your thoughts below.
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