 "Saina Nehwal")
Iodex is taking a big stride in its rejuvenation that had begun with a change in formulation a few years ago. Badminton player Saina Nehwal will add her touch to GlaxoSmithKline Consumer-owned pain reliever in new ads.
While Nehwal will be the second brand endorser of Iodex after Mithali Raj, captain of the Indian women's cricket team, she wouldbe the first widely-known, popular endorser for the topical pain-reliever brand.
In its 95-year history, Iodex has mostly counted on the equity it shares with consumers. Consumers, mainly in the west and north, still turn to Iodex when hit by an object and it is not uncommon to find a bottle of the brand in most homes. So was the use of a high-profile name really required?
Jayant Singh, executive vice-president, marketing, GSK Consumer, says, "For us, the use of a celebrity was not about bringing star power or glamour. It was about how the efficacy story could be narrated credibly. Pain is not uncommon to a sportsman or a woman. Who better than Saina for a product like this?"
For Nehwal, this will be the second endorsement of a pain reliever after Emami Fast Relief. Two years ago, the Kolkata-based personal and healthcare major had hired Nehwal, along with three other sportspeople - boxers Mary Kom and Vijender Singh and wrestler Sushil Kumar - to endorse Fast Relief in a series of ads that featured actor Amitabh Bachchan as the narrator.
Singh says that Nehwal's contract with Fast Relief was over, which allowed her to consider the endorsement of Iodex.
Move over balms to gels and sprays
The topical pain relief market, pegged at Rs 1,200 crore. Traditional balms (such as Amrutanjan or Zandu) make up 60 per cent of the market, that is, Rs 720 crore, with the balance constituting newer formats such as rubs, gels and sprays (that is, Rs 480 crore).
Iodex is a popular rub (overall market share pegged at 13.2 per cent), with a gel variant that was launched about two to three years ago. While Singh does not indicate when a spray is likely to roll out, persons in the know say that it is expected to happen in the next few months, triggered by the growing popularity and convenience of sprays.
Sprays are growing the fastest in comparison to gels or rubs, at about 10 per cent per annum. Largely an urban phenomenon, the growth of sprays is linked to the mushrooming of gyms and the need for instant pain relief when working out.
Competition has been quicker
National-level players such as Volini and Moov have had a spray in their portfolio for years. Volini is the leader in the spray segment, pegged at close to Rs 100 crore or about 15-20 per cent of the Rs 480-crore market. It has a share of 55 per cent, Relispray comes in at number two with a 40 per cent share, according to industry estimates. Gels are about 30 per cent of the market, with the balance being rubs.
Singh says that Nehwal will lend her name to the gel variant (called Iodex UltraGel) in a bid to raise the profile of the product and also position it as one that is at the cutting-edge, responding to current needs of the consumer.
"Iodex UltraGel is a non-ayurvedic product, which has an ingredient called diclofenac, which has a proven track-record of reducing pain and stiffness," Singh.
Almost all pain-reliever brands have a diclofenac or non-ayurvedic variant thanks to the speed with which the ingredient acts on pain. Volini has been pushing its diclofenac variant using actor Sonali Bendre as its brand ambassador.
Change had set in earlier
GSK also moved away from the black formulation that characterised the brand to a green cream a few years ago, to counter competition claim and public perception of Iodex leaving a stain on clothes after use. The packaging was also revamped to reflect the change in formulation.
Besides advertising and newer product formats, a key attribute of Iodex's transformation as a product has been its need to address all consumer segments. As a result, company has the brand available from Rs 5 to Rs 50.
