Branding Strategies for Nutricharge against Revital

Branding Strategies for Nutricharge against Revital

Prepared byArun Kumar

MBA(Pharm.)NIPER, S.AS Nagar

Mohali , Punjab

Introduction- NutraceuticalsIntroduction- NutraceuticalsPresent scenario:-Present scenario:-

India's current market for Nutraceuticals is Rs 4500 CroreIndian Nutraceuticals market has a growth rate of 18 percentThe domestic OTC products market is pegged at over Rs 4,000 crore, growing at 12-14 per cent

As per above data's Nutraceuticals market is growing faster than OTC market-so broad scope in NutraceuticalsAs per above data's Nutraceuticals market is growing faster than OTC market-so broad scope in Nutraceuticals

Competitors AnalysisCompetitors Analysis

The latest data generated by market research entity AIOCD AWACS shows that Revital brands grossed Rs 158.5 crore for the 12 months ended February 2012 (on a moving annual total or MAT basis). The MAT value on February 2011 for the brand was Rs 140.7 crore. Comparable figures for the same period in 2010 and 2009 were Rs 117.5 crore and Rs 68.1 crore, respectivelyRevital enjoys 88 per cent market share in its comparable health supplement segment.Major brands among rejuvenator products are Nutricharge (Trophic Wellness), Supractiv (Piramal), Nutralite (Amway), Nutrigo (Dabur), Well AM-PM, Well multivitamin (Modicare) and GNC (Guardian Lifecare Pvt. Ltd). However, in the specific Vitamins + Minerals + Ginseng segment, the competing brands are Actival – Z – (Taj Pharmaceuticals), Seven Seas Multispectrum (Merck), etc.

All these brands share only 12% Market share-it shows how strong Revital Brand is?All these brands share only 12% Market share-it shows how strong Revital Brand is?

Cont….Cont….

REVITAL• Ranbaxy's Revital, launched in 1989, Has

22 years of market Experience• Has 20 essential elements• Has very strong promotional

strategies• Endorsed by Salman Khan• Target all age group men and women• Has very strong Distribution channel• We can easily assess the information

and feedback of consumers from internet

• Ranbaxy is very strong in financial position to invest in promotion plans

NUTRICHARGE• Trophic Wellness’s Nutricharge launched

in 2010, has only 2 years of market experience

• Has 35 essential elements• Use only print media• Endorsed by Amitabh Bachchan• Target men and women of more than

40 years • Not very strong distribution channel• Not much information available on

internet• Not financially so strong as compared

to Ranbaxy

REVITALProduct

Benefits Better quality of life without tiredness

Attributes Both oral and liquid –depend upon

patients compliance Safety No side effects Warranties 21 day money back challenge

NUTRICHARGEProduct Benefits

feel the difference in your life with manifold enthusiasm and agility

Attributes oral formulation Safety No side effects Warranties NO such Warranties

Marketing Mix (4P) Marketing Mix (4P)

REVITALPriceMRP- Rs240 (30 Capsules)- competitive

priceHave many discount schemes

PlaceStrong distribution channel strong sales and distribution system

spread over 865 towns through over 1,000 distributors.

PromotionDirectInternetTVMagazines

NUTRICHARGEPrice MRP- Rs270 (30 Capsules)- more than

competitive priceHave less discount schemes

PlaceWeak distribution channel

Promotion Only through Print media and

internet

Marketing Mix (4P) Marketing Mix (4P)

REVITALNewspapersHome DeliveryFree samplesFor examples 12 million sample capsules being

distributed through magazines in six months time

Rural van initiative-100 vans each day in select rural pockets of the country

NUTRICHARGE No such initiative adopted for

Nutricharge

Marketing Mix (4P) Marketing Mix (4P)

SWOT ANALYSIS-NutrichargeSWOT ANALYSIS-NutrichargeSTRENGTHSTRENGTHThe product contains 35 essential nutrients which will supplement the normal food in spite Of Revital contains only 20 essential nutrientsThe brand is relevant since there is a huge rise in lifestyle diseases

Benefits of Nutricharge for men Benefits of Nutricharge for men

Energy and Stamina AntiageingImmunity Eye health Bones, joint, muscles and teethHair loss and grayingBrain healthBetter management of Diabetes

Benefits of Nutricharge for womenBenefits of Nutricharge for women

Antiageing and glow of skinStrong hair and nailsEnergy and vitalityStrong and healthy bonesMental alertness and physical fitnessRegular monthly cyclesWeight management

No other product in the same category has such a perfect combination of essential nutrients

SWOT ANALYSIS Conti….SWOT ANALYSIS Conti….WEAKNESSWEAKNESS

Promotional Problem- only print mediaDistribution Problem- a severe distribution problem ( source :- www.consumercomplaints.in)Only oral dosage formTarget only geriatric people

OPPORTUNITIESOPPORTUNITIES

Target all population which is more than 12 years old

SWOT ANALYSIS Conti….SWOT ANALYSIS Conti….THREATSTHREATS

Revital -88% market share and Ranbaxy has very strong promotional and distribution strategies Ranbaxy is in the very strong financial position because it is India’s top pharmaceutical company Other companies with same type of products

Key FindingsKey Findings

The product contains 35 essential nutrients  which will supplement the normal food. The logic is that the regular food may not be able to supply all nutritional requirements and hence one needs to take the help of such Nutraceuticals productsWhen I saw the print ad of this brand, I went on to search about this brand and to my surprise, little was available on the internetBig B will give credibility to the brand, it is important that the consumers know about the manufacturers of a product like food supplementThe brand is targeting the people above 40 years of agePrice of product more than competitive price (Revital) Company do not give any attractive discount schemesWeak distribution system (major limiting factor)Promotion only through print media and internet (major limiting factor)

RecommendationsRecommendationsThree main problems Promotional problem:- Use all the media which are necessary for promotion-aggressive promotion is requiredSend samples with news paper, magazinesOrganize quiz contest in malls and at crowded places Organize free health campaignFree expert advice regarding healthUse FACEBOOK & TWITTERRural Van promotion (as used for Revital)Money back guarantee scheme Free tripsUse Hording..... IMPROVE YOUR FOOD HABITS ..... EAT YOUR FOOD AS MEDICINES...... OTHERWISE...... YOU HAVE TO EAT MEDICINE AS YOUR FOOD...Different punch lines for Nutricharge men, women and childrenUse punch lines like –Swasth Jindgi Ka Bharosa

RecommendationsRecommendations

Different ads campaign selectively focus on men, women and childrenHighlight the attributes and essential elements not present in RevitalCause related campaign laying stress on healthy lifestyle and tension free life. This is somewhat different idea instead of following the same old linesSponsoring sports events Yuvraj Singh endorsed for Ranbaxy, so well known athletes can be roped in to endorse Nutricharge. This will be different from Revital’s strategy of cashing upon the charisma of celebrities like Salman khan and cricketers like Yuvraj SinghThe online site should provide membership facilities and those who are regular purchasers should be provided regular health tips.

RecommendationsRecommendationsDistribution Problem There is severe distribution problem as i have seen at www.consumercomplaint.inSo product must be available at the right time, at the right place and to the right customer.

PricePrice is higher than competitors price (it is also a major limiting factors)

All these findings are from secondary data and my recommendations are just my opinions and result may change when we go through to the market survey