Eureka Forbes changes tack; rolls out new brand position backed by two sub-brands
Following a period of uncertainty, brands are re-aligning their communications to reach out to their consumers. Consumer goods company Eureka Forbes Limited has rolled out a new brand positioning after three decades of operations in the country. “Our focus continues to be the health of consumers with a commitment to filling a need gap in their lives. We started off as a direct sales company. Today, we have upped our presence across e-commerce platforms as well as at retail outlets. We had different brands for different categories and this became unsustainable as we moved from being a direct sales company to an omnichannel company,” Marzin Shroff, CEO and managing director, Eureka Forbes Limited, told BrandWagon Online. The company claims that direct sale now accounts for about one-third of the business and continues to get smaller over time.
The company has further rolled out its new logo ‘Posibol’ along with its vision statement: ‘A healthy world. A protected you. A happy us – revisited for the changing times.’ As part of the process, the company plans to create two different consumer-facing brands across categories including cleaning, air, health conditioners, security systems – Aquaguard and Forbes. “In an omnichannel approach, you need to have one strong sustainable brand which you invest in rather than multiple brands,” Shroff added. The new brand positioning is being communicated by the brand on its digital platforms.
Eureka Forbes, like many other firms, states that digital has emerged as an important channel both from sales as well as a marketing point of view. For instance, the company claims that digital, including its own platform and e-commerce marketplaces such as Flipkart, Amazon, Reliance Digital among others, accounts for around seven to eight percent of its business. As per the firm, before Covid, it accounted for three-four percent. Moreover, it claims that the marketing spends would be allocated equally on both traditional and digital media. “While in pre-Covid era, 70% of the marketing dollars were spent on traditional medium and rest on digital, last year, we spent an equal amount across both mediums. We plan to do something similar basis the performance,” Marzin stated. The company claims that its marketing spends have reduced by almost 50% during FY21 amidst uncertainty.