Financial Daily from THE HINDU group of publications
Friday, Apr 02, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 02, 2004 |
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Marketing
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Strategy P&G announces 16 pc price cut on Pantene shampoos Our Bureau
Actress Katrina Kaif displays the new Pantene Pro-V formula shampoo at a launch held in Mumbai on Thursday. — Paul Noronha
New Delhi , April 1 WITH the price war in the FMCG industry intensifying further, Procter and Gamble (P&G) India on Thursday announced that it has slashed the prices of its popular Pantene range of shampoos by 16 per cent. The new prices are Rs 51 for a 100-ml pack and Rs 98 for a 200-ml one. The move follows closely on the heels of rival Hindustan Lever Ltd offering a scheme in which it is giving a bottle free with every bottle of Sunsilk and Clinic Plus. However, P&G officials said that the price reduction was carried out after research showed that affordability was a key deterrent as far as purchase for Pantene was concerned. Further, Mr Rahul Malhotra, Country Marketing Manager, P&G India, said, "We have reduced the prices to pass on the benefit of duty cuts and internal cost savings to consumers. The resultant increase in volumes will more than make up for the price cut. It would help increase the brand's turnover by 15-20 per cent.'' He added that the company is confident of meeting its profit targets despite the price reductions. Mr Malhotra, however, declined to comment on whether prices for its other shampoo brands Head & Shoulders and Rejoice would be slashed as well. The prices for the sachets, however, remain unchanged at Rs 3. P&G also introduced on Thursday Pantene Hair Fall Control shampoo, which is "designed to reduce hair fall due to breakage by up to 50 per cent within two months". Pantene currently has a market share of 7.5 per cent in the Rs 900-crore domestic shampoo market.
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