Iodex is one of the examples of failed brands. Iodex once topped the market with as high as 70% market share in the pain killing balm sector. But it didn’t change with the changing market sentiments. It also over looked the emergence of the competitor brands like Paras’s Moov. Today Moov has replaced the Iodex from its leadership position. Now Iodex falls into the category of follower.
It is a very sad story of the fall of a leader which is once a trusted band. Iodex is a trusted brand in India since 1919 and no doubt it has some loyal customers too. But MOOV changed the rules of game by launching its ointment in tubes as compared to Jars in transparent color. On the other hand Iodex was sold in black color.
Iodex was re-launched in 2004 to over come the shortcomings like un attractive packaging, greasy look
and bad smell. It tried to revamp its positioning by launching itself in a green colored bottle. But the damage was already done. By now even the local competitors were challenging the position of Iodex in the market. Iodex faces challenges from local brands like Amrutanjan, Tiger Balm (locally manufactured by Elder Pharma), Zandu Balm and Sensur of Glenmark
Iodex extended its brand by launching a variant for multi purpose use with the name Iodex Double Power, which has double the pain fighting ingredients that give quick relief from back pain, wrist pain, joint pain, muscle strains and sprains.
Now again it faced the stiff competition from Moov. As Moov has positioned it self the quickest pain reliever from backache. So now Iodex again re-launched itself in 2006 with the help of its new advertising agency JWT. Iodex launched a new campaign A 'back-up' plan to steal five hundred bucks, where a middle-age man, while walking in the garden notices a five hundred note on the ground. He was tempted to pick it up but as soon as he bends to grab it, he feels great pain in back. Then the advertising shows that if the opportunity is to be grabbed, apply Iodex..
Now Iodex is trying its best to regain its market leader position but it seems quite difficult for them to regain the position.
It is a very sad story of the fall of a leader which is once a trusted band. Iodex is a trusted brand in India since 1919 and no doubt it has some loyal customers too. But MOOV changed the rules of game by launching its ointment in tubes as compared to Jars in transparent color. On the other hand Iodex was sold in black color.
Iodex was re-launched in 2004 to over come the shortcomings like un attractive packaging, greasy look
and bad smell. It tried to revamp its positioning by launching itself in a green colored bottle. But the damage was already done. By now even the local competitors were challenging the position of Iodex in the market. Iodex faces challenges from local brands like Amrutanjan, Tiger Balm (locally manufactured by Elder Pharma), Zandu Balm and Sensur of GlenmarkIodex extended its brand by launching a variant for multi purpose use with the name Iodex Double Power, which has double the pain fighting ingredients that give quick relief from back pain, wrist pain, joint pain, muscle strains and sprains.
Now again it faced the stiff competition from Moov. As Moov has positioned it self the quickest pain reliever from backache. So now Iodex again re-launched itself in 2006 with the help of its new advertising agency JWT. Iodex launched a new campaign A 'back-up' plan to steal five hundred bucks, where a middle-age man, while walking in the garden notices a five hundred note on the ground. He was tempted to pick it up but as soon as he bends to grab it, he feels great pain in back. Then the advertising shows that if the opportunity is to be grabbed, apply Iodex..
Now Iodex is trying its best to regain its market leader position but it seems quite difficult for them to regain the position.
2 comments:
Brand Building: Market Research and Analysis, http://digg.com/d1opYv an informative story is unfolding, this is verse 2
I will apply......
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Iodex
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