RFL (Rangpur Foundry Ltd.)

RFL (Rangpur Foundry Ltd.) is the pioneer in many major sectors like agricultural utilities, building materials, sanitary ware and fittings, kitchen utilities, engineering, utilities, electric and electronics in Bangladesh. The company started its journey with a vision of meeting the expectation of the rural community of Bangladesh by ensuring pure drinking water and affordable irrigation instruments in 1980. Initially, it made cast iron products and also introduced international standard Plastic & PVC products to the Bangladesh market, which have already been cordially accepted by the mass. It has expanded its business over time and become the market leader of almost all the sectors which it operates in.

Today the company has its wide range of products & has achieved the prestige as the largest cost iron foundry & a light engineering workshop in Bangladesh. And it also has a number of subsidiaries that are running successfully.

Unique Strategies of RFL:

RFL had started as a small manufacturing company aiming to serve the rural people with low price products. But the products they make are perceived to be of high quality and durable, and people are getting good value for the money. The brand image has changed and developed because they have certain strengths that make them superior than their competitors.

First of all, the designing and quality of RFLs product is completely based on the needs, wants, and demands of the specific target market they have. They don’t strive to cover the whole market rather they focus on niche markets. RFL designs and makes their products as per the rural people and lower/middle class people who look for a cheap solution for their problems and desires.

Secondly, RFL has a strong distribution channel which makes it possible to reach their customers in each remote area and cities as well. This company mainly follows pull strategy by advertising their products frequently, creating demand and making the customers come and ask for the product to retailers.

 And finally, their wide range of product category creates curiosity among customers and makes them search information about those. RFL and its subsidiaries like RFL plastics Ltd, Pran Group, Pran Agro Marketing Company Ltd produces almost everything a person can think of. For example: from food, beverages to UPVC pumps, pipes, doors, sheets, furniture, stoves, kitchen tools, and what not. As RFL has a number of subsidiaries and all of them are run quite independently, it is easier for each of them to design, implement strategies explicitly and successfully.

Brand Values:

RFL has added value to their brand throughout the above process. The company mainly created their Point of Parity by providing unbelievably low price and offering a huge range of products. RFL is way ahead of their competitors in style and design of their products because RFL has creative employees who conduct research on NWDs of customers and design accordingly. And their Point of Difference is created by being the pioneer in Bangladesh and using updated technology, which is not available to other competitors. Their POD also lies in their spokesperson film actor Moushumi because she is very popular in Bangladesh, especially among the niche market targeted by RFL. So, this was a brilliant and wise idea to endorse Moushumi as their brand ambassador.

They are very creative to come up with an idea of opening their own uniquely designed stores named RFL best buy outlets in prime areas and adding value to the product.

RFL also runs a reality TV show named “RFL Home Maker of The Year” which at the same time promotes their products, increases band value and brand image.

Recommendation:

 Although RFL is a huge success for any Bangladeshi company, it is still trying to increase their business line and their own brand. The company is exporting in 94 countries, including India, Pakistan, Nepal, Niger, Sri Lanka, Middle East countries, and many more as it is emerging globally. This was made possible because of their unique business strategy and good management. RFL has created a benchmark for Bangladeshi companies in that industry, but the company can reach a new height if it focuses more on their campaigns.

       RFL should create campaigns that create an emotional bonding with the customers. This would affect the brand image positively and also create a loyal customer base. In this case, RFL may use sense marketing for their campaigns. They should focus more on their present customers and provide them with a personalized experience; some extra benefit might also help. If they can add a little personal touch to their products they are sure to succeed in the long run with regular product update.