Mondelez launched ‘Marvellous’ Range under Dairy Milk to Boost up Sales
India: Mondelez, an American
multinational confectionary, food and beverage company controls about 2/3rd
of India’s confectionary market. Due to slow growth in consumer market,
Mondelez’s sales fell down over the last decade. It’s the reason behind the
launch of its new range of collection named ‘marvellous collection’ under its
product brand Dairy Milk. The new range is positioned under mass premium
category. To increase the interest amongst its customer, company has decided to
make the product available exclusively through Amazon, an E-Commerce giant, and
in future, it will be rolled out across retail distributors.
Despite of sluggish growth of the
economy, Mondelez is all set to position itself in the market. Earlier this
year, Mondelez launched products like Bournvita Biscuits and Oreo Gold, and
this is Mondelez’s third launch. Mondelez showed slow growth last decade as
compared to its rival Ferrero which grew remarkably well due to aggressive
innovations, although its pricing was of premium range.
According to TechSci Research, the
consumer market is likely to grow in the future. Indian consumers are now
looking for varieties and new eating experiences. However, the Consumers today
are health conscious and awareness is increasing among the consumers about the
problems arising due to high calories content in the body. It is easier for a company
like Mondelez, who is having global leadership in chocolate, and, is well
positioned to identify and bring some of their world leading brands to India,
depending upon the choices and requirements of its consumers. The launch of
Marvellous is taken as a part of its strategic decision to provide a new taste
to its consumer’s taste-buds and to boost up its sales and compete with its
competitor Ferrero who is showing positive growth through its innovations even in
such a sluggish consumer market.
According to a recent report published by
TechSci Research, “India
Chocolate Market Forecast and Opportunities,
2020”,
chocolate market in India is projected to surpass USD17 billion by 2020. In
2014, Consumer chocolates segment dominated the Indian chocolate market, and
this trend is expected to continue over the course of next five years. Product
innovations, strong marketing strategies and increase in variety of products
are driving consumer chocolate sales in India. Over the last few, apart from
children, adult population has emerged as the key consumer segment for
chocolate companies in the country. Consequently, manufacturers have been
launching new and innovative chocolate products such as sugar-free and organic
chocolates to lure adult consumers. In terms of regional sales, Northern India
accounted for the largest share in 2014, followed by the Southern, Western and
Eastern regions of the country.