Harvard Case - Unilever: Using Horlicks's Brand Equity to Lead
"Unilever: Using Horlicks's Brand Equity to Lead" Harvard business case study is written by Sanchita Krishna, Sandeep Puri, Rakesh Singh. It deals with the challenges in the field of Marketing. The case study is 9 page(s) long and it was first published on : Mar 18, 2020
At Fern Fort University, we recommend that Unilever leverage Horlicks's strong brand equity to spearhead growth in the health and wellness space by implementing a multi-pronged strategy focused on innovation, strategic marketing, and global expansion. This strategy aims to expand Horlicks's appeal beyond its traditional core market, attracting a wider audience while maintaining its core values of nourishment and well-being.
2. Background
The case study focuses on Unilever's challenge of leveraging Horlicks's established brand equity to drive growth in a rapidly evolving market. Horlicks, a popular malt-based beverage, enjoys a strong presence in India and other emerging markets, primarily known for its nutritional benefits. However, the brand faces increasing competition and a changing consumer landscape, demanding a strategic shift to maintain its relevance and drive further growth.
The main protagonist of the case study is Unilever, a multinational consumer goods company, tasked with navigating the complexities of brand management and market expansion for Horlicks.
3. Analysis of the Case Study
To analyze the situation, we will employ a framework combining SWOT analysis to assess Horlicks's internal strengths and weaknesses, and PESTEL analysis to understand the external opportunities and threats impacting the brand.
SWOT Analysis:
Strengths:
- Strong Brand Equity: Horlicks enjoys a strong brand reputation built on decades of trust and association with nourishment and health.
- Established Distribution Network: Unilever's extensive distribution network in emerging markets provides a significant advantage for Horlicks's reach and accessibility.
- Loyal Customer Base: Horlicks has a loyal customer base, particularly in India, who value its traditional health benefits.
Weaknesses:
- Limited Product Portfolio: Horlicks's product portfolio is relatively limited, primarily focused on the traditional malt-based beverage.
- Perceived as 'Old-fashioned': The brand faces a perception of being outdated and less appealing to younger generations.
- Competition: The health and wellness beverage market is increasingly competitive, with newer brands offering innovative and trendy options.
Opportunities:
- Growing Health and Wellness Market: The global health and wellness market is experiencing significant growth, presenting a vast opportunity for Horlicks.
- Emerging Markets: Emerging markets, particularly in Asia and Africa, offer significant growth potential for Horlicks.
- Digital Marketing: Leveraging digital marketing channels can help reach new target markets and enhance brand engagement.
Threats:
- Competition from New Brands: The emergence of new brands with innovative products and marketing strategies poses a significant threat to Horlicks.
- Changing Consumer Preferences: Consumers are increasingly demanding healthier and more natural options, requiring Horlicks to adapt its product offerings.
- Economic Fluctuations: Economic downturns can impact consumer spending, potentially affecting Horlicks's sales.
PESTEL Analysis:
- Political: Government regulations regarding health and food safety can impact Horlicks's operations.
- Economic: Economic growth and consumer spending patterns influence the demand for Horlicks.
- Social: Changing lifestyles, health consciousness, and dietary preferences impact consumer choices.
- Technological: Advancements in food technology and digital marketing offer opportunities for innovation and brand engagement.
- Environmental: Sustainability concerns and consumer demand for eco-friendly products can influence Horlicks's packaging and manufacturing processes.
- Legal: Regulations related to advertising, labeling, and intellectual property impact Horlicks's marketing and branding strategies.
4. Recommendations
To leverage Horlicks's brand equity and drive growth, Unilever should implement the following recommendations:
1. Product Innovation and Expansion:
- Develop New Product Lines: Introduce innovative product variations, such as protein-enhanced Horlicks, low-sugar options, and functional beverages targeting specific health needs.
- Expand into New Categories: Explore opportunities to expand into related categories like health bars, snacks, and supplements, leveraging Horlicks's brand association with health and wellness.
- Focus on Natural and Organic Ingredients: Align with consumer demand for healthier and more natural options by incorporating organic ingredients and reducing artificial additives.
2. Strategic Marketing and Branding:
- Reposition Horlicks: Reposition Horlicks as a modern and innovative brand catering to a wider audience, emphasizing its health benefits and appealing to younger generations.
- Targeted Marketing Campaigns: Develop targeted marketing campaigns leveraging digital channels, social media, and influencer marketing to reach specific consumer segments.
- Focus on Health and Wellness: Emphasize Horlicks's health benefits through compelling messaging and content, showcasing its role in supporting a healthy lifestyle.
- Brand Partnerships: Collaborate with health and wellness influencers, fitness centers, and organizations to enhance brand visibility and credibility.
3. Global Expansion:
- Target Emerging Markets: Focus on expanding into high-growth emerging markets, particularly in Asia and Africa, where there is a growing demand for health and wellness products.
- Adapt Products and Marketing: Tailor product offerings and marketing messages to suit local preferences and cultural nuances in each target market.
- Leverage Digital Channels: Utilize digital marketing strategies to reach consumers in new markets and build brand awareness.
4. Digital Transformation:
- Invest in Digital Marketing: Develop a robust digital marketing strategy leveraging social media, search engine optimization (SEO), and content marketing to engage consumers online.
- Build an Online Presence: Enhance Horlicks's online presence through a user-friendly website, mobile app, and social media platforms.
- Data-Driven Marketing: Utilize data analytics to understand consumer behavior, personalize marketing messages, and optimize marketing campaigns.
5. Corporate Social Responsibility:
- Promote Health and Wellness Initiatives: Support community health programs and initiatives related to nutrition and well-being, enhancing brand image and social impact.
- Sustainable Packaging: Implement sustainable packaging practices to reduce environmental impact and appeal to environmentally conscious consumers.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with Unilever's core competencies in consumer goods and its mission to improve people's lives.
- External Customers and Internal Clients: The recommendations address the needs of both external customers seeking healthier options and internal clients seeking growth and brand revitalization.
- Competitors: The recommendations aim to differentiate Horlicks from competitors by focusing on innovation, health benefits, and a modern brand image.
- Attractiveness: The recommendations have the potential to drive significant growth and profitability for Horlicks, leveraging its existing brand equity and expanding into new markets.
6. Conclusion
By implementing these recommendations, Unilever can successfully leverage Horlicks's brand equity to drive growth in the health and wellness space. The focus on product innovation, strategic marketing, global expansion, and digital transformation will enable Horlicks to remain relevant, attract new consumers, and secure its position as a leading brand in the evolving health and wellness market.
7. Discussion
Alternatives Not Selected:
- Focusing solely on traditional markets: While Horlicks enjoys a strong presence in its traditional markets, focusing solely on these markets would limit growth potential and expose the brand to increasing competition.
- Aggressive price reductions: While price reductions can attract new customers, it can also erode brand value and profitability.
- Ignoring digital marketing: Neglecting digital marketing opportunities would limit reach and engagement with younger generations and new markets.
Risks and Key Assumptions:
- Consumer acceptance of new products: The success of new product lines depends on consumer acceptance and willingness to try new variations.
- Effectiveness of marketing campaigns: The effectiveness of marketing campaigns relies on accurate targeting, compelling messaging, and effective execution.
- Economic stability: Economic downturns can impact consumer spending and affect Horlicks's sales.
8. Next Steps
To implement these recommendations, Unilever should:
- Develop a detailed implementation plan: This plan should outline specific actions, timelines, and resources required for each recommendation.
- Establish a dedicated team: A cross-functional team should be formed to oversee the implementation of the strategy and manage various aspects of product development, marketing, and expansion.
- Monitor progress and adapt: Regular monitoring and evaluation of the strategy's progress will ensure its effectiveness and allow for necessary adjustments.
By taking these steps, Unilever can successfully leverage Horlicks's brand equity to drive growth and secure its position as a leading brand in the health and wellness space.
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Case Description
In December 2018, Hindustan Unilever Limited announced that it would buy out GlaxoSmithKline Plc's Consumer Healthcare Ltd. India business, which included popular brands such as Horlicks, Boost, and Viva. With Horlicks in its portfolio, Hindustan Unilever Limited expected to gain market share, draw synergies from individual strengths, and gain access to a larger consumer base. However, India's health food drink category had registered only single-digit growth in 2017. Its primary target audience of parents, physicians, and nutritionists had concerns regarding the side effects of sugar as a key ingredient in beverages such as Horlicks. With consumer focus shifting to healthier, preservative-free alternatives, among other issues, Hindustan Unilever Limited was faced with a challenge: how could it build on Horlicks's brand equity to sustain its leadership position in the disrupting health food drink market, leverage its leadership position to grow the company in this segment, and take that growth to double digits?
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