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8/10/2019 Deodorant Industry Analysis ITC Engage
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Analysis of ITC Engage
2014
Submitted by
Animesh Kishan Singh B14065
Ankur Gupta B14067
Bhavya Vats B14074
Jamesh Bharadwaj B14077
Meherteja Reddy Kallem B14091
Prasad N S B14099
XLRI Jamshedpur
Marketing Management
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Contents
1. Introduction:............................................................................................................................................................. 2
2. Industry Analysis:..................................................................................................................................................... 2
3. Revenue Model:....................................................................................................................................................... 3
4. Environment Analysis:.............................................................................................................................................. 4
5. Marketing Mix of Engage:........................................................................................................................................ 4
6. Competitor Analysis:................................................................................................................................................ 8
6.1. Fogg................................................................................................................................................................... 8
6.2. Axe.................................................................................................................................................................... 9
6.3. Wildstone........................................................................................................................................................ 10
7. Perceptual Map...................................................................................................................................................... 11
8. References.............................................................................................................................................................. 14
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1 Introduction:
The Indian deodorant market is worth Rs 2300 crores as of 2013-14 and is expected to grow to Rs 3000 crore
by 2017. The following graph gives us a glimpse about the growth story of deodorant market in India.
The deodorant market is growing at 17-18% year-
over-year for the past three years. While male
deodorants contribute 69% to total sales,
women's categories are driving the market with
faster growth. Deodorant is the largest category
in the male grooming space. The number of sub-
brands and variants is 986 as of April 2014, with
more than 100 new launches or re- launches over
the past year, Nielsen's reports show. Urban
market contributes 90% of the sales.
2 Industry Analysis:
The objective of Industry analysis is to gauge the strengths and weaknesses of potential competitors so that
the firm can contend competitively in various markets. It also helps to identify opportunities for and threats
to the firm from the industrial environment. While formulating a firms strategy, managers have to consider
the strategies of the firms competitors. Industry analysis is the driver of an organizations strategy and
affects how firms act or react to changes in their sectors. The company does industry analysis to measure
and assess its standing amongst the competitors. The objectives of industry analysis can be grouped under
the following broad headings:
1. Competitors- Industry analysis starts with identifying present as well as potential competitors. It
signifies an essential appendage to conduct an industry analysis, which gives information about
probable sources of competition. Potential competitors for ITCs Engage Deoare Vini Cosmetics'
Fogg, Hindustan Unilever's Axe, McNROE Consumer Products' Wildstone & J.K. Helene Curtis
Limiteds Park Avenue.
2. Evaluating Competitors This includes evaluating the marketing strategies, revenues, products,
market penetration of the competing firms. As per market tracker Nielsen India, 12.5% volume share
is held by market leader Vini Cosmetics' Fogg and 6.9% share each held by Hindustan Unilever's Axe
and McNROE Consumer Products' Wildstone. ITC's Engage deo stands in the second position with
8.1% volume share across Indian urban markets - which accounts for 90% of the overall deodorant
market in India.By value, Fogg is has market share at 17.8%,
followed by three brands closely sharing the next
slots- Wildstone at second place with 6.7%, Engage
at third with 6.6% and Axe at 6.5%, as per Nielsen
data.
3. Customer vs Competitor OrientationAmong all
the brands, FOGG has emerged as the leader in the
Indian deodorant market. The positioning
statement of FOGG focuses on the concept that itsbody spray contains only perfumed liquid and no
Fogg
17.8
Axe
6.5
Wildstone
6.7
Engage
6.6
others
62.4
Market Share by Value
0
500
1000
1500
2000
2500
3000
3500
2010 2011 2012 2013 2017
Revenue
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gas in it and the company is guaranteeing 800 sprays for a bottle containing 100 gm of container. AXE
also has a substantial share in the market because of the brand equity and brand loyalty that it has
built and is leveraging the same. AXE has a wide acceptance among the youth which forms the major
chunk of perfume & deodorant users.
On the other hand, ITCs Engage has positioned itself uniquely in the market. While most brands
portray deodorant as a male phenomenon, Engage has focused on engagement and playful chemistry
between two partners who are equals, thereby lending credence to its positioning as a deodorant forcouples. ITC has also scaled up its variants from 6 to 14 in less than a year.
Porters Five forces:
Threat of New Entrants:Emami has entered the already overcrowded personal care space with the launch
of its men's deodorant brand, 'HE'. It has roped in Hrithik Roshan as brand ambassador. HE deo wants to
position different from the usual deo positioning of seduction which is a key differentiator. The ad tries to
convey the message of the HE deo user as a self assured confident and more importantly interesting
personality. The target group is the youth. The pricing and positioning is not starkly different from others.The brand comes in Citrus, Oriental, Marine, Fougere, Woody and Musk fragrances and has managed to
create a difference in its packaging which will help it boost trial at retailer end.
Bargaining power of buyers: Supermarkets and hypermarkets are the main buyers in the global deodorants
market and often occupy a strong position in the supply chain, which allows them to negotiate favorable
contracts with manufacturers, thereby enhancing buyer power. A lack of differentiation between products
increases buyer power even further.
Bargaining power of suppliers:The deodorant industry has a low bargaining power of suppliers. This is dueto the high number of market players and large supply of diverse products to the market. There are many
cosmetic products which are developed by both large and small scale manufacturers. Due to the huge supply,
consumers have the power to influence the market prices as opposed to the suppliers.
Substitutes:
Deodorant soaps: Provides body cleanliness alongwith the goodness of a deodorant
Perfumes: Used primarily to provide sweet fragrance
Body lotion: Body lotion with considerable alcohol content acts as an antiperspirant
Competition in Industry:Rivalry in the deodorants market is increased by the presence of large consumer
product manufacturers and lack of differentiation within the market.
3 Revenue Model:
Deodorants is a low involvement consumer good. There is not much brand loyalty in the market and there
are numerous brands who share the market. In a market with intense competition like this, it is very
important to make sure that your product is available at as many places as possible. The revenue models
used in Deodorants market is based on these factors.
There are majorly three channels through which FMCG sales are conducted, namely:
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Modern Retailers, General Retailers and online.
Online retail is not yet significant enough for FMCG products like deodorants even though most of the brands
are now available at major e-commerce sites. Modern retailers account for around 8% of total market in
FMCG, while we couldnt find any data specific to deodorant market, it should be a little higher but not much
higher for the deodorants as the customer base is mostly urban youth which is more internet savvy then
other segments.
Most of the revenue is generated through general retailers. With ITCs extensive distribution network, it
helps them to take advantage through this channel due to high trust between company and traders.
4 Environment Analysis:
Political: Advertisements of deodorants are regularly subjected to criticism from the government. Many a time
in the past, the government of India has cracked the whip on deodorant advertisements because of being,
apparently, too suggestive and the content and theme were found "indecent, vulgar and repulsive" by the I&B
ministry.
Economic: The state of the economy plays a major role in any industry. Consumer spending dwindles as growth
slows.
Social: Rapid increase in the middle class population, change in lifestyle, increase in purchasing power and
urbanization- all these factors lead to more focus on hygiene and hence the usage of deodorants increases.
Technological: The research and development cost of deodorants is not very high which provides ease of entry
to new players. Currently there are almost 200 deodorant brands operating in India.
Environmental: One of the key components in deodorants is aluminium, and many a research paper has
suggested that it causes both breast cancer and Alzheimer's disease. Recent studies have raised concerns that
the antibacterial chemical triclosan may affect human hormone regulation and be contributing to antibiotic
resistance. When triclosan washes off our bodies and down the drain, some of it ends up in surface water.
There's evidence to suggest that, at current levels, it may be toxic to some aquatic organisms or have impactson their endocrine systems. Also reports suggests that these products are likely to have the highest amount
of volatile organic compounds, which contribute to the formation of ground-level ozone, a key component in
smog.
Legal: Many a time I&B Ministry has taken action against obscene deodorant commercials.
5 Marketing Mix of Engage:
Engage
Engage Deo was launched by ITC
in 2013. In just over a year, it isalready number two in the
deodorant market. Deodorant
industry was crowded with
similar products with similar
advertising (man attracts
women). Fogg changed the
market by focussing on its
effectiveness and performance.
Engage also tried to differentiate
itself by being a product for both
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men and women. While deodorant market is mostly dominated by male customers (69%), Engage tried to
cater to the needs of other 31 % too. They also try to focus on urban youth.
Marketing strategy of Engage deo is as following:
4P Analysis
Product
Continuing their theme of a deo for couples, they have variants in pair. Engage was launched with three
pair of deodorants, namely:
Rush (Male) & Blush (Female)
Mate (male) and Spell (Female)
Urge (male) and Tease (Female)
Now they have 7 pairs of offering, namely (other than earlier three):
Frost (M) and Drizzle (F)
Jump (M) and Trail (F)
Intensity (M) and OWhiff (F)
Fuzz (M) and Tempt (F)
Also, they try to differentiate with their packaging. Deodorant is a highly competitive market with numerous
brands competing for shelf space. In this, a differentiated packaging helps in catching the eye of the
customer. Packaging is made to appeal to the target group that is youth.
Packaging is mostly in peculiarly shaped cans and uses silhouettesas its key design component.
The brand proposition Playful Chemistry, is well complemented with this innovative and fashionable
packaging design which helps in making some eye catching billboard advertising as well.
Engagefor men has a bold, modern look and has been designed in classical
black with a tinge of effervescent colours. Black represent masculinity and
bottle being mostly black helps in distinguishing the specific product as the
male one
The range for women are in bright hues of Pink, Blue, Yellow and Green
on a can shape designed with contemporary feminine patterns. Bright
colours are generally more attractive to women and this kind of packaging
distinguishes the male and female products properly thus making it easy
for customers to pick the product.
Also, colour codes show which specific variant it is from Engage and having
a colour code will ease purchase for customers.
Price
Price of different brands of Deodorants is as follows:
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Deodorant Price
Denim 250
Nike 200
Adidas 200
Denver 199
Park Avenue 185
Yardley 180Wild Stone 180
Garnier 175
Engage 175
Fogg 185
Denver 170
Axe 165
From this table we can see that the Engage deo is priced toward the lower side of the market. It is focussedon urban youth and tried to provide service at a price well within their means.
Perceived value of the deo is almost the same as for other products in the same price range. This can also be
seen by the fact that the market share of engage deo is increasing which can only be because the customer
is finding value more than the price being charged.
Place
ITC has a very extensive distribution network reaching out to far corners of India.
Also, its available now on major online retailers like flipkart, snapdeal etc.
ITC can do Direct servicing of 1,00,000 markets & 2 million retail outlets.
ITC has been doing many innovations in the field of distribution management, one of the recent example of
that would be the e-choupal initiative which links farmers directly to the company in a mutually beneficial
relationship.
Its also gearing up to roll out their products through paanwallahs . ITCs distribution for cigarettes over the
years meant that there is a high amount of trust between the company and paanwallahs. ITC is planning to
use them to distribute their product, thus shaking up its distribution.
This advantage in channels have meant that Engage have been available at every place in India. Especially
the target group of urban youth is easily covered.
Brand name of ITC means that they tend to get better shelf space then other brands in different retail outlets.
This reach has certainly been one of the major factors of them being able to leapfrog brands such as Axe,
Wild Stone etc. to number two position in deodorants market.
Promotion
Engage is being positioned as India's first 'couple deodorant'. In addition to being sold as separate pieces, it
is also being sold in couple combo packs which offers some monetary benefit over purchasing separately.
This is to enhance the positioning as a brand for couples.
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Ad is based on the Chemistry between the couples.
Its tag line is Lovehas an all new language.
While Axe and a few other deo were focussed on ads which showed men being desirable after using their
product, and while Fogg showed itself to be a brand which gives high value, Engage was trying to position
itself as something which celebrates young love. Its attractive packaging design is meant to attract this
urban youth population.
It shows deodorant as a product which is used by both men and women. While, the market is actually male
dominated with 69% of volumes being consumed by male consumers.
With such high competition and so many brands competing, a differentiated product is very important.
A unique positioning coupled with ITCs extensive distribution network has led to the success of Engage.
One of the promotion technique which used the
packaging design was executed in Mumbai and
Bangalore. The strategy was to promote the brand
among youth while also bringing alive special couple
moments engaging in a new language of love. This is
what the positioning of Engage is all about. In rainyseason ITC created umbrellas with the silhouette of a
couple. These were then handed out to couples
seated in parks, gardens, college campuses and
popular streets. They created branding around
benches in these areas with placed standees. Large
units were created in the shape of the deodorants as they are sold and placed at famous destinations like
the romance rocks at Bandstand, Carter Road and Marine Drive.This campaign helped define Engage as a
brand for young couples.
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6 Competitor Analysis:
6 1 Fogg
CompanyVini Cosmetics
Segment:
Outdoor oriented, Fashion oriental, trendy
TARGETING:
Concentrate on customers seeking products which give value in excess of its price or for sophisticated
customer.
It focusses on youth (15-30) in Urban and Semi-urban areas, who are value oriented and will be attracted
by the longevity and quality offered by Fogg
Occupation: Students, bachelors, young professionals
Income: middle income group
POSITIONING:
The company started an aggressive TV campaign with
a high number of ads being broadcasted at prime
time and high viewer segments such as cricket
matches.
The brand tried to differentiate itself from other
products which were only focussing on advertising
which shows the same concept of boy attracting girl.
They have positioned the brand based on a very
logical appeal where they focus on the positive
qualities of the product and how much better its
performance is in comparison to other products
which they say only consist of gas while FOGG is
without gas and full of product.
The positioning statement of FOGG body spray focusses on the fact that it contains only perfumed liquid and
no gas in it unlike other products and the company is guaranteeing 800 sprays for a bottle containing 100
gm of container. This have created a differentiation for FOGG in terms of quality of product.
The tagline is- "Bina Gas wala body Spray"- in English it means -"A body Spray without gas"
Product:
The USP of the product is that it is perfume based deodorant unlike its competitors which are gas based. It
promises long lasting fragrance and 800 sprays per bottle of Fogg deodorant. It comes in various fragrances
targeted for men and women, and in various fragrances like Marco, Napolean, Royale, emperor, Fresh,
Black, Majestic, etc.
Price:
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Fogg is priced at Rs. 179 per 150 ml bottle, and its Black range of deodorants as priced at Rs.199 per 150 ml
SKU. With promise of no gas and only perfume, and 800 sprays pr bottle it is priced as a value for money
product.
Place:
Vini Cosmetics, the parent company which manufactures and markets Fogg range of deodorants has a wide
and deep distribution network in India. It is available in modern trade as well as rtail trade stores all over
urban and rural India.Promotion:
Fogg has positioned the brand based on a very rational appeal where they have shown a customer who is
using a normal brand and gets fed up with it because the body spray consists of only gas, and only gas comes
out instead of the perfumed liquid. Then a comparison is shown between a normal body spray and the FOGG
body spray where the normal body spray fills glass less than half with liquid where as the rest evaporates as
gas, where as the FOGG body spray fills the glass more than half with almost none of the liquid getting lost
due to gas.
The tagline is- "Bina Gas wala body Spray"- Which in english means -"A body Spray without gas"
6 2 Axe
TARGETING:
Concentrate on single-segment (male 15-30) in Urban and semi urban areas, who are lifestyle oriented, trendy,
cosmopolitan with regular and high usage of deoderant,
Occupation: Students, bachelors, young professionals
Income: middle income group
POSITIONING
The company extensively uses the TV ads and conducting many Campaigns. Besides TV commercials the brand also
uses internet media and sponsoring some events.
The biggest strength of this brand is the underlying message that the brand users are high on confidence and always
go for the Axe. It also ensures that consumers are mostly engaged with new Fragrances. In 2014, Axe had a profile
lunch of its new fragrance "Axe Peace".
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The male models used in Axe advertisements are regular guys, unlike those of its competitors, who use models with
perfectly chiselled bodies. This conveys the message that Axe is for everyone, and your confidence and Axe Effect can
cast a spell on girls.
4Ps
PRODUCT:
Variety of AXE DEO's: Axe offers a wide range of fragrances in their deodorants. Some variants of AXE are : peace,
harmony, anarchy, apollo, excite, dark temptation etc. Axe comes up with new fragrances and range of deodorants
every 4 months to keep the freshness of brand alive.
Quality: All the variants of AXE deos are dermatologically tested and do not have any kind of side effects on the skin,
it offers good fragrance which has long lasting effect.
Packaging: The bottle of Axe deodorant looks more sturdy and its twisting on top which is better than older design.
Unique bottle helps in brand differentiation and better recall.
PRICE
AXE deodorant is priced to offer its customers good value for money. The price of all variants of axe is same. They just
have different fragrances and flavours. Rs. 150 for 150 ml of deodorant.
PLACE
Placing and availability of product plays significant role in determining the sales of product. Axe relies on location and
distribution channels. There is high availability of Axe deos in all stores such as modern retail, traditional mom and
pop stores, drug stores of all sizes.
PROMOTION
Advertising:Primary tool used by AXE is TV commercials, print ads and billboards which increase brand awareness.
Interactive Marketing:Engage customers and directly or indirectly raise awareness through social media and online
campaigns like theaxeeffect.com. Various campaigns "Call me", "AXEfeather", "AXELand" for an increased customer
engagements.
Central Theme of Campaigns: Seduction where Girl makes the first move. Brand assumed that Men like to be seduced.
Tagline:THE AXE EFFECT
6 3 Wildstone
The idea, is to create occasion specific offerings, such as mild fragrances for office-goers; stronger ones for party-goers
and so on.
Under consideration
Wild Stone is also mulling an entry into gas-less deo varieties.
TARGETING:
Concentrate on single-segment (male 15-30) in Urban and semi urban areas, who are lifestyle oriented, trendy,
cosmopolitan with regular and high usage of deodorant.
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Occupation: Students, bachelors, young professionals
Income: middle income group
Same as AXE, but high regional concentration of sales in its home turf East India, with rising sales and market share in
southern and western markets.
POSITIONING
Product was positioned as a sexy or naughty product for young males which transformed an uninspiring average
Joe into the jealousy-inducing Chick magnet.
While sexy was the buzzword in the segment, the communication was not personalized to the Indian clientele.Axe
and Set Wet propagated their message through foreign models in foreign locations. While they did capture attention
and communicate, the characters werent relatable to the audience. This is where Wild Stone differentiated. Adopting
to the Indian tastes,they communicated through Indian men and women, who the audience can relate to, set in
typically Indian scenes like Durga Puja, Holi or Monsoon season.
While others promised the user the attention of hordes of girls, Wild Stone promised inciting deep passion and frenzied
fantasies in a single womanIndian, traditional, mysterious and not overtly sexual. Unlike others who were tagged as
playful and youthful, Wild Stone became associated with passion and mystery.
4Ps
PRODUCT:
Wildstone too offers a wide range of fragrances in their deodorants. Some variants of Wildstone are: Red, Aqua Fresh,
Ultra Sensual, Thunder, Smoke, Night Rider etc. keeping in view the mystery element associated with the product.
PRICE
Wildstone deodorant is priced to offer its customers good value for money . The price of all variants of Wildstone is
same and is priced similarly as its competitors.
PLACE
Wide distribution network ensures high availability of Wildstone deodorants in all stores such as modern retail,
traditional mom and pop stores, drug stores of all sizes pan India. Also available for sale on ecommerce sites like
Flipkart.com.
PROMOTION
Advertising: Primary tool is TV commercials, print ads and billboards which increase brand awareness.
Central Theme of Campaigns: Seduction where Girl makes the first move. Brand assumed that Men like to be seduced.
7 Perceptual Map
A perceptual map is created to identify how customers form a mental picture of the various deodorant products,
including Engage and other brands. Two prominent attributes of deodorants are chosen as dimensions over which
the position of various products were plotted.
The perceptual map helps identify the degree of likeness or differentiation among different products available in the
market. Thus is helps the marketers take decisions pertaining to the following questions: how much to differentiate
the product from competitors products? ; and how to position a particular product on the basis of prominent
attributes to cater to the target consumer segments.
Methodology: Deodorant users were asked to fill up an online survey, ranking the performance of each deodorant
brand over different pertinent attributes. The ranking table used for the survey is as shown hereunder:
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Brand Very Bad Bad Neutral Good Very Good
Engage 1 2 3 4 5
Wildstone 1 2 3 4 5
Fogg 1 2 3 4 5
Axe 1 2 3 4 5
Park Avenue 1 2 3 4 5
Questions on the survey used to determine the rank of deodorants across different attributes were as follows:
1. What do you perceive about the PACKAGING of the following brands?
2. What do you perceive about the FRAGRANCE of the following brands?
3. What do you perceive about the PRICE of the following brands?
4. What do you perceive about the ANTI PERSPIRANT quality of the following brands?
5. What do you perceive about the DRYING QUICKNESS of the following brands?
6. What do you perceive about the STORE AVAILABILITY of the following brands?
These questions, coupled with the scoring table provided above, allowed the users to rate the attributes provided in
capitals in that particular question. Moreover, survey questions were presented in different order to different
respondents to remove any bias arising due to fixed sequencing of questions
Survey outcomes
The respondents provided following ratings to different brands that were surveyed:
Brand Packaging
Store
Availability Fragrance Price
Anti perspirant
quality
Drying
quickness
Engage 2.93 3.20 2.80 3.07 2.60 3.00
Wildstone 3.27 3.47 3.53 2.93 3.00 3.15
Fogg 3.00 3.29 3.13 3.14 3.00 3.14
Axe 3.60 4.53 3.80 3.14 3.40 3.00
Park Avenue 3.87 3.80 4.20 3.43 3.53 3.29
Regression Analysis
To identify the correlation among different attributes that were used to evaluate deodorant products, regression
analysis was carried out amongst the variables shown in the above table. The coefficient of correlation (R) came out
to be the highest for fragrance and packaging
of deodorants, and was equal to 0.98:
Regression Statistics
Multiple R 0.97839047
R Square 0.957247912
Adjusted R
Square 0.942997216
Standard Error 0.094835502
Observations 5
Therefore, these two attributes were chosen
as axes for the perceptual map, which is shownin the figure:
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8 RecommendedStrategies:
Universal Approach
Till now the positioning of Engage have focussed only on a specific target group. But they could try to have a
universal approach to positioning. Right now they only focus on playful chemistry for urban youth. But they could
instead shift to a positioning which caters to a bigger customer base.
One recommended strategy would be as a symbol of love for all ages. This positioning would be similar to its current
positioning in the respect that they try to focus on romance aspect of it. But now its positioning could be as a
timeless symbol of live which would increase its universal appeal
Combo Offers
Right now they only have one kind of combo offer that is for a pair of deodorants for couples.
They could expand upon it and introduce other combo offers like budget combo, family combo etc. Budget combo
could be an offering which offers lower prices when u buy in bulk any combination of deodorants. While Family pack
could offer combos which includes products for all family members.
These combo offers with a universal approach can help differentiate Engage while still making it appeal to a
universal audience
Product
Right now they only focus on products for couples. They could introduce more products which can be differentiated
on some other variety. For example, if we continue the above universal approach then it can produce products
which are named after different moods related to love.
A premium variant can also be introduced down the line.
They should continue with their differentiated packaging as it helps them gain more eyeballs on shelf.
Price
Current pricing strategy gains them the access to a large customer price.
A premium priced product can help them gain more market share from upper class people
Place
ITC should continue using its supply chain capabilities to drive the growth of Engage Deo. They could use their
superior supply chain to develop and gain rural markets.
Promotion
A shift to a universal approach should be shown in advertising campaign too.
Ads should try to position Engage as a symbol of love for all ages.
Suggested Tagline: Engage inimmemorial love
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9 References
1. http://www.itcportal.com/businesses/fmcg/personal-care-products/Engage-Deo.aspx
2. http://www.engagedeo.com/
3. http://marketingpractice.blogspot.in/2013/06/engage-deo-couple-deodorant.html
4. www.itcportal.com/about-itc/shareholder.../ITC-Corporate-Presentation.pdf
5. http://www.authorstream.com/Presentation/santukarmakar-717869-distribution-channel-of/
6. http://articles.economictimes.indiatimes.com/2013-12-10/news/45035404_1_choco-meltz-dark-fantasy-
choco-fills-paan-shops
7. http://en.wikipedia.org/wiki/SEC_Classification
8. http://www.indiastat.com/civilsuppliesandconsumeraffairs/4/socioeconomicgroups/18226/stats.aspx
9. http://articles.economictimes.indiatimes.com/2014-07-14/news/51485063_1_itc-ltd-deodorant-market-
market-share
10.http://prezi.com/__hnschlbr7u/engage-deo-sprays/
11.http://www.thehindubusinessline.com/companies/effective-advertising-helped-deo-brand-
itc/article5405331.ece
12.http://www.exchange4media.com/52370_itc-initiates-innovative-brand-promotion-strategy-for-latest-
offer.html
13.http://www.flipkart.com/
14.http://www.mxmindia.com/2013/12/fogg-clouds-axe-effect-is-new-numero-uno-deo/
15.http://www.diligentia.net.in/itcs-engage-beats-axe-and-old-spice-in-deo-market-for-second-position-fogg-
still-at-no-1-position/
16.http://www.business-standard.com/article/management/emami-sniffs-success-with-he-
114061500748_1.html
17.http://www.snapdeal.com/products/perfumes-beauty-deodrants
18.http://www.itcportal.com/media-centre/press-reports-content.aspx?id=97&type=C&news=business-model
19.http://timesofindia.indiatimes.com/business/india-business/Modern-retail-makes-a-big-
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20.http://indiatoday.intoday.in/story/fmcg-nielsen-company-five-billion/1/160242.html
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