Harvard Case - Tiktauli de Corps: A Branding Dilemma
"Tiktauli de Corps: A Branding Dilemma" Harvard business case study is written by Jones Mathew, Banasree Dey, Sandeep Puri. It deals with the challenges in the field of Marketing. The case study is 13 page(s) long and it was first published on : Dec 7, 2018
At Fern Fort University, we recommend Tiktauli de Corps implement a multi-pronged branding strategy that leverages their unique position as a natural, ethical, and effective alternative to traditional Western medicine. This strategy will focus on building brand awareness, establishing credibility, and driving customer acquisition through targeted marketing campaigns, strategic partnerships, and a robust online presence.
2. Background
Tiktauli de Corps is a small, family-owned business in Nepal that produces and sells a line of natural health products based on traditional Ayurvedic principles. The company faces a branding dilemma as they seek to expand their reach beyond their local market and compete with established Western brands. They need to overcome the challenges of limited resources, a lack of brand awareness, and a perception that their products are less effective than scientifically validated Western medicine.
The main protagonists are the owners, the Tiktauli family, who are passionate about their products and their mission to promote natural health solutions. They are faced with the challenge of balancing their traditional values with the need to adapt to a global marketplace.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Unique product offering: Tiktauli de Corps offers natural, ethical, and effective products based on traditional Ayurvedic principles.
- Strong family values: The Tiktauli family is passionate about their products and committed to quality and sustainability.
- Potential for growth: The global market for natural health products is expanding rapidly.
Weaknesses:
- Limited resources: Tiktauli de Corps is a small company with limited financial resources.
- Lack of brand awareness: The company is relatively unknown outside of its local market.
- Perception of effectiveness: Some consumers may perceive natural products as less effective than Western medicine.
Opportunities:
- Growing demand for natural health products: Consumers are increasingly interested in natural and holistic health solutions.
- E-commerce and digital marketing: The internet provides a cost-effective way to reach a global audience.
- Strategic partnerships: Collaborating with other businesses can help expand reach and build brand credibility.
Threats:
- Competition from established Western brands: Tiktauli de Corps faces stiff competition from large pharmaceutical companies.
- Regulatory challenges: The natural health industry is subject to varying regulations across different countries.
- Economic uncertainty: Global economic conditions can impact consumer spending on non-essential products.
PESTEL Analysis:
- Political: Government regulations and policies regarding natural health products can impact the company's operations.
- Economic: Global economic conditions can influence consumer spending on health products.
- Social: Growing consumer interest in natural health and wellness presents an opportunity.
- Technological: E-commerce and digital marketing offer new ways to reach customers.
- Environmental: Sustainability and ethical sourcing are increasingly important to consumers.
- Legal: Regulations regarding product safety and labeling can impact the company's operations.
Consumer Behavior Analysis:
- Target market: Tiktauli de Corps needs to identify specific target markets within their chosen geographic regions. This could include health-conscious individuals, those seeking alternative medicine options, and consumers interested in natural and organic products.
- Motivations: Consumers are motivated by a desire for natural, ethical, and effective health solutions. They may also be influenced by factors such as price, convenience, and brand reputation.
- Decision-making process: Consumers may research products online, seek recommendations from friends and family, or consult with healthcare professionals before making a purchase.
Competitive Analysis:
- Direct competitors: Tiktauli de Corps faces competition from established Western brands, as well as other natural health companies.
- Indirect competitors: The company also competes with other healthcare options, such as traditional medicine and home remedies.
- Competitive advantages: Tiktauli de Corps can differentiate itself through its unique product offering, its commitment to ethical sourcing and sustainability, and its focus on traditional Ayurvedic principles.
4. Recommendations
1. Develop a Strong Brand Identity:
- Define a clear brand positioning: Tiktauli de Corps should position itself as a trusted provider of natural, ethical, and effective health solutions based on traditional Ayurvedic principles.
- Create a compelling brand story: The company should develop a narrative that highlights its heritage, its commitment to quality, and its mission to promote natural health.
- Design a distinctive brand logo and visual identity: The brand's visual elements should reflect its natural and holistic approach.
2. Implement a Targeted Marketing Strategy:
- Identify key target markets: The company should focus on specific segments of the market, such as health-conscious individuals, those seeking alternative medicine options, and consumers interested in natural and organic products.
- Develop a multi-channel marketing approach: Tiktauli de Corps should leverage a combination of online and offline channels, including social media, content marketing, email marketing, and traditional advertising.
- Create compelling marketing materials: The company should develop high-quality content that educates consumers about the benefits of Ayurvedic medicine and the effectiveness of its products.
3. Build Credibility and Trust:
- Seek third-party validation: Tiktauli de Corps should obtain certifications and endorsements from reputable organizations to build credibility and trust among consumers.
- Partner with healthcare professionals: The company should collaborate with doctors, naturopaths, and other healthcare practitioners who believe in the benefits of Ayurvedic medicine.
- Develop a strong online presence: Tiktauli de Corps should create a user-friendly website and social media accounts that provide information about its products, its mission, and its commitment to quality.
4. Leverage Digital Marketing Strategies:
- Optimize for search engines: Tiktauli de Corps should invest in SEO to improve its website's visibility in search results.
- Run targeted online advertising campaigns: The company should use platforms like Google Ads and social media advertising to reach its target audience.
- Develop a content marketing strategy: Tiktauli de Corps should create valuable and informative content, such as blog posts, articles, and videos, to attract and engage potential customers.
5. Explore Strategic Partnerships:
- Collaborate with retailers: Tiktauli de Corps should partner with health food stores, pharmacies, and other retailers that align with its brand values.
- Form alliances with other businesses: The company could collaborate with other natural health companies, wellness practitioners, or organizations promoting sustainable living.
- Participate in industry events: Tiktauli de Corps should attend trade shows, conferences, and other events to network with potential partners and customers.
6. Implement a Customer Relationship Management (CRM) System:
- Track customer interactions: Tiktauli de Corps should use a CRM system to collect and manage customer data, track interactions, and personalize communications.
- Build customer loyalty: The company should implement loyalty programs, offer exclusive discounts, and provide exceptional customer service to foster long-term relationships.
- Gather feedback and insights: Tiktauli de Corps should regularly collect customer feedback to improve its products and services.
7. Explore Global Expansion Opportunities:
- Research international markets: Tiktauli de Corps should identify potential markets where there is a demand for natural health products and a favorable regulatory environment.
- Develop a global marketing strategy: The company should adapt its marketing materials and messaging to different cultural contexts.
- Consider partnerships with international distributors: Tiktauli de Corps could collaborate with distributors to expand its reach in new markets.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of the company's strengths, weaknesses, opportunities, and threats, as well as an understanding of the current market trends and consumer behavior. They are designed to be consistent with the company's mission to promote natural health and its commitment to ethical sourcing and sustainability. The recommendations are also designed to be cost-effective and scalable, allowing Tiktauli de Corps to achieve sustainable growth over time.
The recommendations consider the following:
- Core competencies and consistency with mission: The recommendations align with the company's core competencies in developing and producing natural health products based on traditional Ayurvedic principles. They also support the company's mission to promote natural health and wellness.
- External customers and internal clients: The recommendations are designed to attract and retain customers while also motivating employees and stakeholders.
- Competitors: The recommendations address the competitive landscape by highlighting the company's unique selling proposition and developing a differentiated brand identity.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to increase brand awareness, drive customer acquisition, and generate a positive return on investment.
6. Conclusion
By implementing these recommendations, Tiktauli de Corps can overcome its branding dilemma and establish itself as a leading provider of natural health solutions. The company will be able to build brand awareness, establish credibility, and drive customer acquisition, enabling it to achieve sustainable growth and expand its reach beyond its local market.
7. Discussion
Other Alternatives:
- Focus solely on the local market: This option would require minimal investment but limit the company's growth potential.
- Partner with a larger company: This could provide access to resources and expertise but could also compromise the company's independence and control over its brand.
Risks and Key Assumptions:
- Competition: The market for natural health products is competitive, and Tiktauli de Corps may face challenges in differentiating itself from established brands.
- Consumer acceptance: Consumers may not be receptive to Ayurvedic medicine or may perceive it as less effective than Western medicine.
- Regulatory changes: Government regulations regarding natural health products could change, impacting the company's operations.
Options Grid:
| Option | Advantages | Disadvantages | Risks |
|---|---|---|---|
| Implement a multi-pronged branding strategy | Increased brand awareness, customer acquisition, and growth potential | Requires significant investment and effort | Competition, consumer acceptance, regulatory changes |
| Focus solely on the local market | Minimal investment, limited risk | Limited growth potential | |
| Partner with a larger company | Access to resources and expertise | Loss of independence and control over brand |
8. Next Steps
Timeline:
- Month 1: Develop a detailed marketing plan, including target markets, messaging, and budget.
- Month 2: Launch a new website and social media accounts.
- Month 3: Begin implementing content marketing and SEO strategies.
- Month 4: Launch targeted online advertising campaigns.
- Month 5: Seek third-party validation and certifications.
- Month 6: Partner with healthcare professionals and retailers.
- Months 7-12: Continuously monitor and adjust marketing strategies based on performance data.
Key Milestones:
- Increase website traffic by 50% within the first six months.
- Generate 10% growth in sales within the first year.
- Secure partnerships with at least three key retailers within the first year.
- Achieve a positive return on marketing investment within the first year.
By taking these steps, Tiktauli de Corps can successfully navigate its branding dilemma and achieve its goals of expanding its reach and establishing itself as a leading provider of natural health solutions.
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Case Description
In July 2018, the chief executive officer of Tiktauli De Corps (TDC) was thinking about the branding strategy of the company. Founded in India in August 2012 as a casual wear apparel brand, TDC had grown rapidly. The company featured three main business lines: electronic dance music fashion apparel and accessories; sports gear; and affordable fashion wear. The company had adopted a house of brands strategy for its three brands: TDC, Fieldgear, and Koolho. After six years, one of the three brands had started generating profits, but none had achieved recognition outside a niche circle. However, confident that the various brands were aligned with TDC's vision, and encouraged by the company's success, the chief executive officer was considering expanding into international markets. Because of limited access to funds, synergy among the company's house brands, and the impact of macro-environmental factors on his growth plans, he had to choose the best branding strategy for the company's future.
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