About Igloo
Igloo, one of the prime products of Abdul Monem Limited, is the country’s most preferred ice cream. It is the pioneer ice cream brand in Bangladesh, having started its operation in 1964 in Chittagong.The world market for ice cream has been catering to the varied taste of consumers. Hence Igloo has maintained a strong position in the market of the Bangladeshi customers. This is partly because nowadays ice cream has become very popular part of the food market culture.
THE MARKETING MIX:
For Igloo the Product decisions revolve around developing the right product for the target market and this includes not only the physical unit but also warranty, brand name, company image, value and many other factors. Apart from maintaining a superior quality through its imported ingredients and bringing regular production consultants from India, Pakistan, Denmark and Holland, the units’ separate R&D department regularly analyzes new products through its market research to answer questions as:
At what price consumers would like to buy the product.
- Flavors and essence to be used.
- Consumers’ feedback.
- Analyze other market.
PRICE:
Price is what the buyer wants to give up obtaining the product. It is often the flexible of the four marketing mix elements – the quickest element to change. Igloo in setting its price considers the kind of competition in the target market as well as the cost of the whole marketing mix. It has developed a wide range of prices for its various segments. This includes a range starting from TK 5/- to TK 25/- for cups and sticks, TK 45/- to TK 200/- for family pack items as depicted in the table below. Need to say Igloo’s parlor, which extensively caters to the taste of the upper income consumers, has a price range of TK 75/- to TK 500/-.
PLACE:
The distribution network of Igloo is stretched all over the country with a long fleet of refrigerated vans. Firstly, the ice cream products are stored at the central warehouse of the factory, and from there they are distributed through the haulage vehicle to the following operational centers.
Dhaka:Covering the Dhaka and adjacent sub-base markets.
Chittagong:Covers the South and South West part of the country.
Comilla :Covers the Western part of the country.
Khulna:South and South East part of the country.
Rajshahi:Northern part of the country.
PROMOTION:
Igloo basically follows three different promotional activities and their explanations are given below:
Trade partners and retailers – Bulk purchases are rewarded through volume incentive scheme such as cash discounts or a few liters of free purchase.
Consumers – Availability of scratch cards through purchase of certain flavored ice creams enables consumers to obtain different types of gifts such as CD player, radio, television e.t.c. Also last year (2001) every purchase of Macho had a Kit Kat free.
Social Occasions – Even specific promotions are developed for Eid, Christmas, Friendship, Valentine and other occasions. For example this year the parlor had a package for 14th February which included a couple buying TK 200/- worth of ice creams would get a free cassette of love songs. Also during the Eid time the prices of most of the ice creams are reduced to a certain level in the retail outlets.
DIFFERENT FORMS OF ADVERTISING
- Igloo mainly focuses on the outdoor media which includes banners, papered posters, danglers, painted displays, billboards, neon signs as its creative channels to convey its message to its target markets.
- Newspaper coverage
- TV Media
MARKETING GROWTH STRATEGIES
MARKET PENETRATION: Igloo tries to sell more of its present products to its present markets by the help of supporting tactics, which might include spending on price, promotion and packaging. For example, Igloo regularly alters its ice cream packaging, and provide occasion oriented price cut.
PRODUCT DEVELOPMENT: One of prime reasons for Igloo's success has been due to constant introduction of new products. The exquisite Macho, energetic Mega, which hit the markets around two years back, were and are a real feast for ice cream lovers. The very recently introduced Kulfi has once again placed Igloo to as being a people’s brand providing a world of great taste, and which deciphers Igloo’s drive to maintain satisfaction of all segments of the market.
REFERENCE:
BBC Worldwide. 2013. Report on Business Strategies of Igloo Ice Cream.[ONLINE] Available at: http://bbaworldwide.com/2013/12/28/report-on-business-strategies-of-igloo-ice-cream/.
An Interview with Mainuddin Monem (Deputy Managing Director, Abdul Monem Limited)
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