Parle Products to spend 50% of marketing budget on Platina
Parle Platina contributes about 15 per cent to the company’s revenues. The company plans to increase the share to 25 per cent by next fiscal
Biscuits and confectionery company Parle Products will continue with its bullish 360-degree marketing approach for its latest division Parle Platina and dedicate 50% of its marketing budget to the segment.
According to Mayank Shah, Category Head, Parle Products, there is a huge scope of growth for Platina and the company will continue to invest in it.
“For the next two years, there will be disproportionate investment getting into Platina. Emphasis will be put even on the distribution front. Special distribution projects and special sales initiatives are on to ensure the availability of the entire range of Platina. Currently, there 1 million outlets and we hope to increase the number by 1.5 million in
the next one year,” says Shah, adding that the company "will dedicate 50% of its marketing budget" to it.
“By next fiscal, we are looking at 25 per cent of our contribution coming from Platina,” he states.
With the Platina range, Parle Products is looking to grab 50 per cent of the super premium biscuit market in the next one year. The market, which is worth Rs 1,700- 1,800 crore, is dominated by three main players -- Parle, ITC and Britannia. Parle’s range of products includes Hide & Seek, Black Bourbon, Milano and Choco Rolls Cookie. Shah notifies that the company is looking at (at least) one launch within Platina every quarter.
Talking about Platina, Shah says he and B Krishna Rao, Category Head, saw huge growth in this division from the start itself and that is why invested aggressively in the segment. “We have almost 40 per cent of total market share within this segment,” he adds.
Shah is confident that the premium cookie product Milano will become a Rs 100-crore brand. The company has roped in author and film producer Twinkle Khanna as its brand ambassador as she appeals to Milano’s TG, which is NCCS A, 25-40. A set of TVCs featuring her were timed perfectly with the ongoing Vivo Indian Premier League.
Shah points out, “We wanted someone who is upfront and outspoken, who wouldn’t mind calling spade a spade. Twinkle fits the bill very well. The idea was to deliver a message around the need to have balance between health consciousness and indulgence.”
The company, meanwhile, is happy with its investment in the ongoing Vivo IPL and feels that it is paying off.
“The traction from IPL has been phenomenal. In the last six-seven months, the kind of growth that I have talked of (around 30-40 per cent) across all these varieties (Hide & Seek, Milano and others) has only been picking up with IPL,” he says. The company has invested more than Rs 50 crore on the league.
Post IPL, Shah is looking at another set of TVCs towards the end of the calendar year. “Prior to that, there will be technical campaign in terms of new launches, new variants and more,” he explains.
This range is expanding with the roll-out of variants Milano Mixed Berries cookies and the recent Milano Choco and Hazelnut.
When it comes to marketing mediums after the league, TV will remain the dominant medium for Parle, followed by digital. However, it will take precedence in Parle Product’s marketing game (for Platina) as 25 per cent of the marketing budget will be allocated to it, which is much more than other FMCG brand, as Rao points out. “A good digital initiative on any FMCG brand would be about 10 per cent of the total spends,” he says.
On the digital front, Shah shares, “There will be a lot of emphasis on interaction and not just plain advertising. There will be new initiatives in terms of content and native marketing, web series and others besides display TV ads. Talks are already on with content creators. It will happen around August.” For more updates, be socially connected with us on
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