A new product launched from the company Marico to tap the market in summer. Marico is the company which has given us branded and quality products like parachute hair oil. The largest percentage of people prefer parachute than competitors product. Such a way they have created a Brand for themselves. They were in the segment of oil and related market since long time. They have captures a largest percentage of the market in coconut oil business in India.
But it's time to retain the customers who are switching to other products in summer. The products like Navaratan and Banfool have done well in summer season from a long time. The feature like cooling has given them an advantage to tap the market. Most of the people prefer to use that in summer season and when they feel stress. Even the quality of the products is too good and people love to use those as it was giving a feel of relief while applying. Hence it was the market where Marico was losing something.
But this summer they came up with a product called Parachute Advanced cooling oil. They came with good brand ambassadors for advertisements too. As it is having a brand in the market so there will not be any problem for them to tap the market. The only thing they need is to make the people aware of it. Already they have done it with good advertisement. They have taken a good step to beat the competitors. Most of the people use coconut oil of Marico hence they can easily go for the new product as they were already aware of their quality. But it is really a good move.
The other thing they need to take care is the availability of the product at retail counters. As this is the season for the products to move out of the shelf in less time. Hence they just need to take care of the logistics activities. Hence we need to look at how the brand is going to work in this product segment.
About Author / Additional Info:
An MBA from GITAM University,India.