How to Prepare MBA Project on Marketing Strategy of GoodKnight Flash to Penetrate Unorganised Sector

In this article, Marketing Management faculty of Madembaezy will explain steps on how to prepare an award winning MBA Project on Innovative Marketing strategy of GCPL’s GoodKnight Flash to Penetrate unorganised Secor. We shall explain how to study Godrej Consumer Products Limited (GCPL) as an organisation and discuss marketing strategy of GCPL’s GoodKnight Flash, an innovative new mosquito repellent which has successfully penetrated Unorganised Sector in India. As part of this MBA Project work in Marketing Management, we shall look at the marketing strategies of M/s GCPL’s innovative new mosquito repellent and understand the brand’s innovative marketing strategy and how it continues to stay relevant in the increasingly competitive market. We shall study  its marketing strategy on how the brand continues to stay relevant in the Unorganised Sector in the market.

What is Marketing Strategy?

A marketing strategy is a company’s plan for reaching the prospective consumers and turning them into customers of their products or services. Marketing strategies should revolve around a company’s value proposition. The ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over rival companies. A marketing strategy should revolve around the company’s value proposition, which communicates to consumers what the company stands for, how it operates, and why it deserves their business. To guide students on how to do an MBA Project on marketing strategy and write MBA project report, through this sample MBA Project work, we shall present how the company under consideration has formulated its marketing strategy by new products and stayed ahead of competition.

About the company

The Organisation selected in this MBA Project in Marketing Management is Godrej Consumer Products Ltd (GCPL). GCPL is a leading company in emerging markets, ranked among the top players in Household Insecticides, Air Care, and Hair Care in India, Indonesia, and Africa. The company is the leader in Household Insecticides in India, the second largest player in Indonesia, and is expanding its presence in Africa. Godrej Consumer Products is a part of the 123-year old Godrej Group with a proud legacy built on the strong values of trust, integrity, and respect for others. As an emerging market company, it has witnessed rapid growth and are pursuing its exciting and innovative aspirations. Today, the Group enjoys the patronage of 1.15 billion consumers globally, across different businesses. In line with the company’s corporate objective of international expansion, GCPL is building its presence in three emerging markets, namely Asia, Africa, and Latin America, across three categories (home care, personal care, and hair care). GCPL ranks among the largest household insecticide and hair care players in the emerging markets. A leader in household insecticides in India and Indonesia and are expanding footprint in Africa. The company is a leader in serving the hair care needs of women of African descent and are the number one player in hair colour products in India and sub-Saharan Africa, and among the leading players in Latin America. GCPL ranks second in soap products in India, first in air freshener products in India and Indonesia, and lead in wet tissue product in Indonesia.

Besides strong financial performance and innovative, much loved products, GCPL’s priority is to remain a good company as well. A detailed study of the organisation is required to be carried out as part of the MBA project work.

Strategy for innovative Marketing & volume growth

In this MBA Project, we shall study on how GCPL is aiming for a double digit volume growth over the next few years. The company believes that there are huge amounts of volume growth available to its brands simply by increasing the penetration of the core categories in Unorganised Sector of its core countries. As an FMCG company, it’s easy to be almost seduced by new categories and that certainly has a role to play but the majority of GCPL’s growth will actually come from increasing penetrations in unorganised sector. So, the number of households using GCPL product categories such as household insecticides, hair colour and others still has a lot of headroom to grow. Therefore, the company thinks that by focusing on that across all the elements of the marketing mix, there will be a lot of volume growth for the company. So, the reworked strategy of GCPL to be studied in depth and to be highlighted in the MBA Project work.

Benefits to Marketing Management students on MBA Project on Innovative Marketing Strategy

The organisation selected for this MBA project study is Godrej Consumer Products Ltd (GCPL), which operates in Fast moving consumer goods (FMCG) sector. Fast moving consumer goods are products that sell quickly at relatively low cost. FMCGs have a short shelf life because of high consumer demand (e.g., hair care, skin care, food products etc). These goods are purchased frequently, are consumed rapidly, and are sold in large quantities.

Fast-moving consumer goods (FMCG) sector is India’s fourth largest sector with household and personal care accounting for 50% of FMCG sales in India. Growing awareness, easier access and changing lifestyles have been the key growth drivers for the sector. The urban segment (accounts for a revenue share of around 55%) is the largest contributor to the overall revenue generated by the FMCG sector in India. However, in the last few years, the FMCG market has grown at a faster pace in rural India compared to urban India. Semi-urban and rural segments are growing at a rapid pace and FMCG products account for 50% of the total rural spending. The FMCG market in India is expected to increase at a CAGR of 14.9% to reach US$ 220 billion by 2025, from US$ 110 billion in 2020.

FMCG giants such as Johnson & Johnson, Himalaya, Hindustan Unilever, ITC, Lakmé, GCPL and other companies (that have dominated the Indian market for decades) are now competing with D2C-focused start-ups. Due to FMCG & D2c companies, advertising volumes on television recorded healthy growth. FMCG continued to maintain its leadership position with 29% growth in ad volumes against the same period in 2019. Even the e-commerce sector showed a healthy 26% jump over 2020.

Therefore, an MBA project work in a leading FMCG company like Godrej Consumer Products Ltd will fetch multiple benefits for a MBA student in gaining an in-depth knowledge of marketing, which will also help him/ her in getting employment after completion of the MBA project or MBA curruculam in any FMCG or D2C or Ecommerce company.

Conclusion

For GCPL’s portfolio in India, they have many underpenetrated categories. For example, GoodKnight is present in one-third of Indian households. With GoodKnight Flash which has Renofluthrin, they will invest to reach more consumers, offering them safer and more effective solutions. And while this will increase marketing spends, it will also increase the available pie for the category.

The third way is to strengthen the brand. In deeply penetrated areas, GCPL aim to make the brand more salient, available, and accessible, driving growth. This is where marketing spends will increase to support this strategy. If an MBA student intends to start his/her MBA Project work on Innovative Marketing Strategy referring to GCPL’s GoodKnight Flash as a live case study but feel unclear of where to start, then this article is for you. Dedicated faculty member of Madembaezy can help a student during the MBA Project study and to find a subject, select a topic, find an organisation for the MBA Project work and plan the MBA project and will act as a liaison between the student and the host organisation.