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Assignment 1 - Consumer Behaviour
Assignment 1 - Consumer Behaviour
Pharmaceuticals (the previous name) brand has been in market for almost
about a century now, and it has never failed in its mission to contribute towards India’s self-
sufficiency. The brand specialized in ‘Over The Counter’ (OTC) pharmaceutical products and
healthcare cosmetics, by resorting to technology to boost efficiency and productivity.
Though there are different products from the company, the most popular and consumer
centric product has been the Boroline Antiseptic Ayurvedic Cream, for ages. While this
product has been there for a long time, there are products from other companies also which
give a tough competition to Boroline. Hence, we suggest that the company revamps its
flagship product, the Boroline cream. It should retain the originality of the cream. As far as
packaging enhancements are concerned - it should change the material of the tube containing
the cream from metal bases to plastic based because there have been several instances of
leakage of cream because of damaged or crumpled tubes. It should re-launch the same
product in different packages – apart from the original tube-based cream, it can develop a
bottle based variant, so that consumers have an option to choose either of the two based on
their convenience. For the same product, it should reduce the oiliness. The company should
have two versions of the original Boroline cream – it should retain the already existing
variant while launching a new variant which is less oily, less sticky, can be used by men and
women alike, and also can serve as a family cream. It should also carry our few technological
advancements in its new variant, based on different geographies within the country (northern,
southern, eastern and western parts). For example, the new variant should be customized for
use by people residing in the different regions of India, characterized by different climates.
While people in some regions might prefer a lighter variant of the cream, people in other
regions might prefer a more viscous variant. The company should also think of
demographically segmenting the same product for different age groups, by making slight
changes in the formula for each segment. This will boost up sales as people of all ages would
be able to relate to it, as an indispensable antiseptic cream.
Segmentation:
Geographic – no
Demographic – low income to middle income group, Lower-aged, Middle-aged and old-aged
people
Psychographic – People having more inclination towards using herbal and ayurvedic products
Behavioral –
Targeting:
Age: From kids – 1 year old and above
Income: 2 lakhs and above
Considering the facts, a new product should be launched, when the sales of companies
other product are at peak.
Planning for next 2-3 years, would like to propose that any product that company
launches should holds Boroline as with its name like Boroline Fairness cream, Boroline
Hair Oil.
Reason being Boroline has high recall value and has trust in the minds of it customer
which will help in the sales of the new product in the market and will increase the chance
of high visibility.
Company can also focus on relaunching its existing product line with new names like
Boroline Facewash, Boroline Mosquito repellant cream.
In current market situation, where Aatm Nirbhar Bharat is the heart of Indians, Boroline
can launch the product of which the market is being captured by any foreign company
and market it with Aatm Nirbhar Bharat slogan like products of HUL – Glow & Lovely,
Vaseline.
Company should also look to in the direction of setting couple of manufacturing units in
central, western, or southern region of India to resolve their supply chain issues and have
their presence pan India.
Currently the major contributor of Boroline revenue are Borline Antiseptic cream and
Suthol, but the sales are seasonal. Company required to innovate in this direction by
providing the product which can be used around the year like converting their product in
some form of lotions with some variations which can be used around the year.
Although, if company market their product efficiently across India, with so much
diversified weather condition sales can be retained and improved.