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A Study Of The Product Launch & Targeting Strategy Followed By Emami Fair & Handsome

6633 words - 27 pages

Final Report
A Study of the
Product Launch & Targeting Strategy followed by
Emami Fair & Handsome
Under the Esteemed guidance of Prof. Avinash Kapoor

Section – C
Group – 8
11P156 Rahul Pinnamaneni
11P157 Rajat Shriram Barve
11P158 Rakesh Ranjan
...view middle of the document...

So started the Product Development Phase of Fair & Handsome and after collaboration with Activor, USA for R&D, lots of Marketing Research and test marketing, the product was successfully launched to a grand opening.
The product was priced high initially, following the rapid skimming strategy, which implied an aggressive promotional campaign coupled with high pricing to recover initial costs and other the heavy costs incurred in R&D. The commercials involving Bollywood and Kollywood superstars Shahrukh Khan and Suriya were a big hit and prompted many men till then using women’s fairness creams to shift to Emami Fair & Handsome. As Emami had the first-mover advantage, they reaped huge benefits and the turnover touched a staggering Rs. 50-crore in the first year itself. Even till this day, Mr. Goenka opines that identifying the latent demand proved to be the most critical step in the launch of the product. And always a company yearning to innovate and reach out to serve their customers better, Emami, we can say didn’t waste an opportunity. Till this day, Emami enjoys market leadership in the segment though there is stiff competition today from other Multinationals and local competitors who jumped into the fray and made men’s fairness products seeing the rich dividends reaped by Emami.
Coming to the matter of why men were suddenly interested in improving their physical appearance, it may be traced to globalisation, urbanisation, increasing spending power and higher standards of living and the rise of the Metrosexual Indian Male. The modern Indian male is as interested in grooming his physical appearance if not more, as his female counterpart. The macho look of the 70’s or 80’s or early 90’s is out and the suave, sleek, stylish look is in. Many reports and behavioural scientists corroborate the same. But still, due to the social stigma that man shouldn’t spend too much time and energy on their appearance many more men are yet to come out of the closet and openly start using Fairness creams.
Seeing the opportunity that the new segment offered, many companies like Garnier, HUL, Nivea entered the market with their own products at which stage the ensuing competition led to Emami decreasing their prices substantially, which is all too good for the end-customer. Also, as near-monopoly is bad for the customer, the newer players added their own flavour and brought about a wide variety of products to choose from. The survey comes up with many interesting findings, for instance many shop vendors (non superstore, non shopping mall sellers) report that competitors offer better deals so as not to sell Emami Fair & Handsome in their shops, in some shops the vendors complained that the Emami dealer hardly visited them once a month.
On the whole, the launch of a product like Emami Fair and Handsome is a model worthy of emulation, be it by competitors or new players, because it follows the classic textbook example of identifying...

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