Major players in fast-moving health goods (FMHG) industry are moving into new categories in order to gain a competitive edge over rival brands.
Boots Piramal Healthcare Ltd (BPHL) is now evaluating possibilities of expanding into throat-care products in the near future. To start with, the company is in the process of rolling out—Strepsils Cough Fighter—a new line extension of its throat lozenge brand Strepsils across the nation.
According to company sources the future plans includes aggressive growth through the launch of many line extensions. Also, it plans to consolidate and revitalize their existing brands. The company also plans to roll out new products to meet the healthcare needs of consumers.
Prior to the launch of the new product, the company conducted an extensive market research. The total cough market is estimated at around Rs 800 crore, of which the OTC cough segment accounts for Rs 90 crore. Strepsils is a major brand in the moderate ‘sore throat lozenge market’ worth Rs 50 crore.”
With its recent foray into the cough syrups segment, Boot Piramal will take on other brands such as Benadril, Glycodin, Corex, Smyle and D’Cold among others in the overcrowded category.
While Boot Piramal is busy charting out marketing plans to promote its new launch, Kopran Pharmaceuticals Ltd—which is known for its Smyle and Dr Smyle brands—has forayed into the baby care products segment by launching a baby soap under its Smyle brand—BabySmile.
With this launch the company has entered a new segment. According to sources the first product is a moisturising baby soap which has coconut oil, priced at Rs 22 (for a 75 gm pack). To promote its new offering, Kopran has introduced a new ‘Baby Security Scheme’—‘Baby Smyle Suraksha Yojana’. Every pack of Baby Smyle now carries a coupon. And the lucky winner gets money for the baby’s education.