In line with its commitment to deliver intelligent and innovative security offerings, Godrej Security Solutions recently launched Goldilocks, a portable home safe product which breaks away from the general perception that lockers are bulky.
The success of Goldilocks is rather crucial for Godrej Security Solutions, as the brand relies on this newly launched product to touch the Rs 860 crore turnover mark this year as against Rs 750 crore which was achieved in the previous financial year.
So how is Godrej Security Solutions going to market Goldilocks? Will it adopt more customer engagement activities to sell a product which is highly experiential in its ethos? Well we at Everything Experiential, got the answers to these questions in a exclusive conversation with,
Mehernosh Pithawala, AVP & Head Marketing Godrej Security Solutions.
“We at Godrej Security Solutions found out that a majority of people had no means of protecting their daily valuables. There was no one specific location where these could be stored together and also be handily retrieved at the same time. The conventional bank lockers and home safes are redundant for this purpose, since they are not easily accessible and are used to store more expensive items.
Therefore there emerged a need for a locker which was both portable and provided ease of access and convenience and this consumer driven insight led GSS to develop Goldilocks”-says Mehernosh Pithawala as he explains the ideology behind the development of Goldilocks.
When asked on how will the brand market these personal lockers which are priced at 6,499 INR? Mehernosh responds by saying, “The brand has initially launched 'Goldilocks' product in 15 cities and it plans to start selling across India in the next few months. For now the product will be sold through modern trade electronic retail stores such as Vijay Sales, Croma and other online retail platforms.”
“Since the product is experience driven by nature we will also be executing some customer engaging activities to give our target group hands on experience of how can the product add value to them. These activities will range from mall activations to experience zones at Godrej Security Solution stores across the country.”-adds Mehernosh Pithawala.
Mehernosh also establishes that experiential sits high on the marketing strategy of his brand, which is also gearing up to expand into tier two and tier three cities. He says, “Overall experiential activities are allocated 30% of our overall marketing budget which is a testament to how important it is for Godrej Security Solutions. We soon plan to reach out into the rural market as well to provide them with the same safety and convenience with this product and experiential is the only marketing tool which can help us in achieving our goals there.”
Interestingly, home safe products accounted for Rs 120 crore in Godrej Security Solutions' turnover in the previous year. Commenting on the future plans of Godrej Security Solutions Mehernosh Pithawala said, “We plan to sell around 1 lakh Goldilocks products in the next six months .Selling the product overseas will happen but not this year as right now we want to focus on the domestic market.”
