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Question: Nitin bhai is feeling perturbed. His company Velvet Paints has recently acquired a Kerala based paints company Trichy Paints a year ago but he has been unable to merge the two brands till today. Velvet Paints’ primarily market is in the decorative paints segment. It is known for its quality and innovative products but has limited brand appeal especially in southern market. Trichy Paints has a broader product range across Decorative as well as Wood finish segments. Kerala is Trichy paints key market though it has limited presence in other Southern markets (Tamilnadu, Karnataka, Telengana etc.).
Nitin Bhai would like to do away with Trichy Paints as a brand and would only like to use the acquisition for expansion of production facility, personnel and distribution network. Multiple brands require separate marketing and advertising expenditure. Nitin Bhai has ambitious plans for Velvet Paints and plans to make substantial expenditure on the marketing and promotion to be able to take-on established large players. Being a mid-sized company, Velvel Paints has limited resources and multiple brands require separate marketing spend thus increasing the budget required. The key conflict here is regarding the Wood finish brand of Trichy Paints, Woodshine. Velvet Paints has no comparative product and Woodshine is a leader in its segment.
Tampering with the brand may lead to market dilution.
To resolve the conflict, Nitin Bhai hires a Hyderabad based market research firm Marquee. The market research firm held discussions with the Trichy Paints management, trade partners (retailers, distributors,
wood-painters) and consumers. Below were the key findings shared by the Marquee team.
• Wooden furniture polish is a niche segment with Woodshine being the leading brand
• Woodshine has a very strong brand recall and brand connect • Consumers are dependent on the wood-painters for the brand-selection and are often unaware of the product being used though customers want the best quality for their furniture with low sensitivity to price
• Wood-painters have limited education and have strong association of Woodshine with existing name and logo
How would you explain the situation and brand challenges Velvet Paints is facing? What will be your advise to Nitin Bhai in regards to brand portfolio restructuring? What should he do with Woodshine?
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