Financial Daily from THE HINDU group of publications
Wednesday, Feb 22, 2006
Financial Daily from THE HINDU group of publications Wednesday, Feb 22, 2006 |
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Marketing
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Strategy Marico forays into baby-care category Our Bureau
Chennai Feb. 21 MARICO Ltd, which became a Rs 1,000-crore company in 2004-05, will look to double that within the next five years by introducing a slew of products, initiatives, and by making key acquisitions during that period, according to Mr R Chandraseker, Category Head, Marico. The first of these, Sparsh, a massage oil for babies, was launched here today for the South Indian market. Already present in Andhra Pradesh since September 2005, this is Marico's first entrance into the Rs 300-crore baby care products market. Out of this, the market for branded baby oils is about Rs 80 crore, Mr Chandraseker said, adding that the potential market was much bigger because a lot of people use unbranded baby oils. He said that the company would employ a pricing strategy - the bottles are priced Rs 33 for a 50 ml pack and Rs 61 for a 100 ml pack - to make a lot of potential customers who currently use unbranded oils switch over to the branded segment. Marico claims, the oil consists of tulsi, turmeric, coconut and other vegetable oils. Actor Simran was present on the occasion to unveil the product.
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