Friday, February 04, 2022
Monday, January 10, 2022
Refresh Tears : Golden Years Ahead
Indian Pharmaceutical industry is huge in size estimated to be around $42 Billion. One of the major growth areas in this industry is the OTC ( over the counter) products which can be bought without a prescription. This OTC rush has even created a new category called FMHG - Fast Moving Health Goods.
OTC ophthalmic products is another emerging area in this industry and one of the major brands in the market is Refresh Tears. Those who are using computers for a long time may have never missed this brand which is used as a relief to mild dryness in the eyes. The dry eye strain market is estimated to be around Rs 400 crore and Refresh Tears is a prominent player in the market. Although an OTC product, this product is rarely advertised and often the first purchase is through a doctor prescription.
With the incident of eye-strain is rampant with the heavy use of mobile and laptops, a whole lot of eye care products have entered the market and most of them are natural/ayurvedic in nature. The market is expected to grow manyfold because digital device usage is only going to grow. So then why is the brand owner is restraining from heavy advertising? One reason I can think of is the role that influencer play in this market. Allergan is a company that plays an important role in the ophthalmology space and usually, a consumer will have the first encounter with the brand through the doctor.
In my observation, usually, doctors tend to avoid prescribing OTC brands once they are heavily advertised. I have seen this in the case of cough syrups. Now Refresh Tears is sold at a premium of rs 150 and when the doctor prescribes it, the patient will have to buy irrespective of the MRP. In the OTC that is not the case. Once the consumer starts using these brands, then the continuous purchase is done without prescription. So this is a dilemma that many pharma companies face when they put a product under the OTC category. For now, I think the brand owners are happy with the way Refresh Tears are fairing and probably comfortable with the margin too. Another reason is the nature of the product. Eyes are so precious that consumers may ask the opinion of the doctor before going for self-medication.
This brand is in a category that will see huge growth because of the evolving consumer behaviour and digitization and Refresh Tears is all poised to reap the benefit of this natural growth.
Tuesday, December 28, 2021
Malkist : Can't Resist
In 2021, a new brand entered the market by the name Malkist which is from Inbisco which is a subsidiary of Indonesia based Mayora group. Inbisco is well known for its confectionery brand Kopiko which has carved a niche for itself in the confectionery market. Malkist is a brand from Indonesia from Mayora's portfolio.
Malkist is not an ordinary biscuit. It is in the sub-category of crackers which is a biscuit usually preferred by adults who are diabetic or health conscious. Usually, crackers are taken with added toppings to make them consumable. This is where the brand has identified an opportunity. Malkist wants to redefine the cracker category in favour of the larger set of young consumers by making it different and palette friendly.
Malkist has done this by adding flavours to it. It is a 7 layered crackers that come in flavours such as cheese and chocolate. The brand which was soft-launched a year back is now launched nationally. The brand has also given a big boost to the launch campaign by getting none other than Amitabh Bachchan. Bachchan has brand pull across demographics and getting him to promote the brand was a big plus for Malkist.
The launch campaign featuring Big B is also a delight to watch and the ad makes use of Big B to the fullest. The theme is " can't resist" is one of the most used themes in the food-related ads, but the ad is never boring thanks to the presence of Big B. What is good about the ad is that it persuades the customer for product-trial which is the primary and paramount objective for any new brand in the market. The rest of the success depends on how the product performs.
Malkist is positioned as a premium cracker and is now pushing the brand solely on the taste factor which cannot be termed as a clear differentiator. However crackers with irresistible taste is a nice value proposition to have at least at the launch phase. The brand will be looking at bringing more flavours to the portfolio in the coming months thus catering to the variety-seeking needs of the target market. The brand is also an example of a competitive strategy of niche marketing where the company aims at carving a niche in a highly crowded market away from the competitors.