Sunday, September 23, 2007

4Ping Brandalysis: Tiger Balm

Tiger Balm: Dard Mitaye Duniya Ka

Tiger Balm is an interesting example of a truly Asian brand that has gained international recognition. It is originally manufactured and distributed by Haw Par Healthcare in Singapore. Tiger Balm was originally developed in the 1870s by a herbalist, Aw Chu Kin, in Rangoon, Burma, who asked his sons Aw Boon Haw and Aw Boon Par on his deathbed to improve and market the product. Using their marketing acumen, Haw Par brothers grew the salve business into an empire that today includes pharmaceuticals, banking, insurance, rubber and newspapers under the Haw Par name. Over the century, Tiger Balm has won the hearts of Asians and eventually the world.

Packaged in unique hexagonal jars and colorful paper boxes, and adorned by a tiger leaping across the label, Tiger Balm was originally called Ban Kim Ewe (ten thousand golden oil). The name tiger was derived from the founder’s son, Boon Haw which means “gentle tiger” in Chinese.

Tiger Balm is a global brand in true sense. It was bought to India by Elder Pharmaceutical Ltd and witnessed law profile advertising. (Elder Pharmaceutical also has strong portfolio of brand like Fairone, AMPM Mouthwash and Blistex.)

The balm market size is estimated to be at. Rs. 500 crore in India. It can be further divided in to two categories, Pain Reliever Balm and Cold Rub Balm. Tiger balm commands 6% market share in Rs. 300 crore pain reliever market and directly competes with brands like Moov, Iodex, Himani Fast Relief and heritage brand Amrutanjan. It is available in two different variants. Earlier it was available as Tiger Balm Red but consumer survey revealed that red is strong and caused a burning sensation when applied on the nose. This result lead company to launch new mild variant called Tiger Balm White in Oct. 2005. It is effective for headaches, stuffy nose, stomach flatulence, insect bites, itchiness, and muscle and joint aches

Elder Pharmaceutical is also planning to launch its mini size pack of 3 gm. to encourage trial purchase. According to company resources, biggest problem for Tiger Balm is sales erosion caused by similar sounding products available in the market. Tiger Balm has a tremendous heritage following in Asian countries, and it is now successfully marketed in over 75 countries worldwide.
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2 comments:

Blur Ting said...

You're right. Every home has one bottle of that in Singapore.

Anonymous said...

This very valuable opinion