Our client is an Indian pharmaceutical company, focused on creating innovative products.
The leadership team wanted to launch a range of personal care products that were effective and formulated for temperate climates. Initial discussions revealed, the founder’s vision is to create a global brand that offers quality products to address Indian consumer needs across the country. As part of this initiative, they were looking to engage expert professionals who would help them understand the market and determine the right retail entry strategy.
Engagement Overview : Centric was engaged to help devise a retail launch strategy including brand positioning, marketing collateral creation and trade feedback. During the course of the assignment, we were able to help define a merchandise mix strategy that would allow our client to enter both FMCG and OTC categories. This would give them a larger range of products to take to the trade and hence gain more shelf space and a larger share of the trade’s mind.
Methodology : We worked in a phased manner to help the client devise a suitable retail entry strategy based on the following inputs:
- Brand Positioning : Based on Competitive Context, Global Trends, Product Mix and Founder Vision
- Marketing Collateral Critical for launch : Branding and Packaging Design
- Trade Feedback : Key Account, Distributor and Stand Alone store feedback to identify the cost of entry and the potential triggers for product placement.
- Product Pricing : Pricing strategy to include both the costs of distribution, cost of sales and other elements to facilitate ramp up at a later stage.
Our client was able to arrive at a retail entry strategy that capitalized on his core strengths and prevailing sentiments in the market.
Brand Review : By the end of the engagement, our client had a new line of FMCG and OTC line that well accepted by the trade. The firm has also received a new round of funding to support their expansion initiatives, based on trade response. The company is in expansion mode.
Retail Strategy and Marketing Communication : We were able to identify key partners for Test Launch in South India. Based on the response (primary and secondary offtake) in Modern Trade, General Trade and On-line stores, we will work on an All India launch in the coming year. Our approach is the help the client start small, learn from the market and then invest in high growth opportunities. To support retail strategy, we have provided marketing communication to facilitate Test Launch in a professional manner.
Read more about Centric’s approach toward Retail Launch Strategy