Efficascent Oil and Shoestring Budget Marketing

Many of us by now know what is Efficascent Oil and Omega Pain Killer, brands that are not even Manila-based but we never knew about it nor did not even care where they were made. All we know is that they come with top of mind recall whenever such products against aches and pains are needed by us or by family members.

For example, Efficascent Oil has been around for 60 years. The writer cannot recall the last time he has seen a billboard, heard a radio commercial and can only recall a TV spot more than 10 years ago. But why has Efficascent Oil managed to hold on to its market position for so long on a Marketing and Advertising “Non-Strategy”?

Mr. Stanley Uang , VP-Marketing of International Pharmaceutical thus answers,  “The most central to this philosophy of allocating a shoestring budget is to make every peso count. Whether it is in negotiating with media networks in providing more spots or to include creative executions in addition to the spots, or making those few spots count with good marketing content or an endorser who fits the positioning of your product or your communication, or to be very strategic in your communication in terms of target audience. All these will make your advertising pesos go a long way.”

But again, the strategy for Efficascent Oil is that on its first 20 years, it was marketed as medicine but using massage as the delivery system. Those who are averse to taking pills would rather use a non-invasive form of therapy. Also, by using this method, Efficascent Oil was able to widen its distribution. As mentioned above, it is not a Manila-based company. It is based in Cebu, the distribution phase using its “massage therapy” marketing came mostly by word of mouth from users to new customers. Now on its next 20 years, it has now gained a name brand of its own and is easily differentiated from other “me too” brands and it has 60 years of existence to fall back on.

It must also be noted that geographically, being based in Cebu makes IPI centrally located in the Philippines and that makes the company easier to distribute and market. Thus, a Shoestring Marketing Strategy is makes sense given the factors cited.