Financial Daily from THE HINDU group of publications
Saturday, Aug 28, 2004
Financial Daily from THE HINDU group of publications Saturday, Aug 28, 2004 |
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Marketing
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Strategy Lotus Chocolate Company sets sights on low-end market Our Bureau
Hyderabad , Aug. 27 AFTER a bad patch, Lotus Chocolate Company is trying to regain lost ground and capture the low-end market through a focussed campaign in schools, parks and retail outlets. The company is also expecting to strengthen its industrial chocolate segment. "We are not in competition with multinational companies. We are very focussed and concentrating on the lower segment of the market," Ms B. S. Radhika, Controller (Marketing) of Lotus, said. Talking to newspersons here today, she said the company would confine itself to one-to-one marketing strategies. Lotus Chocolate company changed hands in August last from the Singapore-based Network Foods International to Mr D. Durgaprasad and Mr A. Ramakrishna, two businessmen from Hyderabad. "We have since infused Rs 2.5 crore after the change," Mr Durgaprasad, Managing Director, said. A large chunk of the Rs 5.5-crore turnover the company achieved last year came during the last quarter. "We are looking at a turnover of Rs 16 crore this year, and exports alone are expected to cross Rs 4 crore," he said. The company's cocoa processing plant could process 3,800 tonnes of beans. As part of the plan to campaign through schools, Lotus organised a chocolate cookery contest titled `Lotus Choco Wunders' in which students of various hotel management institutes participated.
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