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[Type the company name]
MARKET
STUCTURE [Type the document subtitle]
GAURI [Pick the date]
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Perfect Competition:
1. Large number of buyers and sellers:-
In this market structure there are large number of buyers and
sellers e.g. many farmers growing wheat. If one of them,produces more or less that will not affect the market supply or
the market price. In this there are large buyers also. Even the
buyers cannot influence the price by changing their demandbecause each buyer and seller is like a drop in ocean
2. Homogeneous product:-
It is the most important feature. It says that the product whichthese large number of buyers buy from large number of sellers areidentical or we can say perfect substitute that means, if one buyer
increase the price the buyer will buy it from other seller as theproducts are identical e.g. rice.
3. Free entry and exi t of firms:-
An entrepreneur who has enough capital and still can start thebusiness and enter the industry and any one who is incurring loss can
stop the production and exit the industry.
4. Firms are price takers:-As there are many buyers and sellers nobody can influence the
price or the supply in the industry. They are like drop in the ocean.
Producers are price takers as he cannot affect the market price.Consumers are price taking consumer as they cannot influence theprice by any of his or her action.
5. Perfect Knowledge:All the buyers and sellers have perfect knowledge about the market.
A market which comes to exhibit all these conditions is the stockmarket. About one stock there are many information available as it is
published.
6. No Cost of Transportation:-It is assumed cost of transportation does not exist.
7. Perfect mobility of factors of production:-
It is assumed that all the factors of production can be migrated
from one place to another. There is no hindrance in the movement.This helps in entry of new firm and exit of a loss making firm.
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Now after discussing the features we will differentiate between perfectand pure competition. As perfect competition has all the features of
pure competition and some more features. The first three featuresgiven under perfect competition constitutes pure competition (that is
large number of sellers and buyers, free entry and exit and identical
products) where as perfect competition has the features of purecompetition and two more features they are perfect knowledge about
the market and perfect mobility of inputs and output.
Shut Down P oint:-
In short run, firm may continue its production to recover losses in longrun. In short run as we have discussed in cost concept fixed cost isincurred even if the output is 0. Now when the firm is incurring loss
then it may go on producing till the loss is less then or equal to totalfixed cost. then the firm may go on producing till the loss less is then
and equal to TFC. If the firm is able to cover its variable cost and partof fixed cost it will go on producing because if it stops, the firm has to
incur the complete fixed cost as loss and as there will be no variablecost if there is no production but if the loss is more than fixed cost that
is when producers will decide to shut down. Therefore not only thewhole of fixed cost but also the part of variable cost the firm has to
incur from its pocket, not through revenue. It is advisable to shutdown and incur loss equal to fixed cost as there will be no variable cost
when production is nil.
Long Run Equilibrium:-
We assume that all the firms have identical cost condition in theindustry. In short run the firm will keep on producing even when it isincurring loss but in long run the firm not even getting normal profits
will shut down. As due feature of free entry and exit when a firm atshut down point will exit the industry which will decrease the supply
and the profit increase and other firms who where are incurring losswill start getting normal profit. When most of the firms are incurring
profits the industry looks attractive many new firms enter the industrywhich increase the supply in the industry and the profit comes down
and the existing firms will return to normal profits from super norm atprofits so in long run under perfect competition the firm incurs normal
profit there are no super normal profit and no huge loss.
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the buyers that his brand is superior to the others.
Oligopoly MONOPOLY
Three degrees pr i ce d isc r im ina t ion – first degree Monopoly issaid to exist when one firm is of price discriminationFi rs t degree the sole producer or seller of the product. In case
of monopoly, one firm constitutes the whole industry. Mono
means one and Poly means seller.Conditions
1. One seller or producer.
2. No close substitutes for the product of that firm should beavailable.
3. monopoly implies no competition4. Other firms for one reason or the other reason are
prohibited to enter the industry. There is strong barrier tothe entry of the firms.
Price discrimination
Practice of selling the same commodity, at different price todifferent buyers by a seller. A seller makes price discrim ination
between different buyers, when it is both possible andprofitable for him to do so. Its difficult to charge different price
for the identical good from different buyer.price discrimination is also called the perfect price
discrimination because this involves maximum possibleexploitation of each buyer in the interest of the seller’s profit.
It is said to occur when the seller is able to sell each separateunit of the product at different price. So every buyer is forced
to pay the price which is equal to maximum amount he iswilling to pay rather than to go without the good altogether,which means seller leaves no consumer surplus to the to buyer.
Seller makes separate bargain with each seller instead of setting down w ith just two or three few market prices each. In
this all and nothing bargain the total amount of money whichthe buyer is required to give equal to the maximum price he is
w iling to pay.1. Second degree p r i ce d isc r im ina t ion - second degree price
discrimination will occur if the monopolist is able to
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charge separate price in such a way that buyers aredivided into different groups and each group is charged a
different price. The seller divides his market into differentgroup of buyer and charges different price for each group
of buyer.
2. Th i rd degree p r i ce d iscr im ina t ion - when the seller divideshis buyer into two or more than two sub markets or group
and charges a different price in each submarket. The price
charged in each sub market depends upon the output soldin that submarket and demand condition of that
submarket. It is the most common, e.g. pricediscrimination found in the practice of manufacturers w ho
sells his product at a higher price at home and low er priceabroad.
Monopsony
Monopsony refers to a market situation when there is a single
buyer of a commodity or services. I t applies to any situation inwhich there is a monopoly element in buying. E.g. when a
single factory in an isolated locality is the sole buyer of somegrades of labour or when a individual happens to have a taste
for some commodity which no one else requires. Just as inmonopoly seller is able to influence the price of the product by
the amount he offers for sales. Similarly monopsony buyer is
able to influence the supply price of his purchase by theamount he buys. Monopoly aim to maximum profit andmonopsony aims to maximum consumer surplus.
Bilateral monopoly
Bilateral monopoly refers to market situation in which a singleproducer (monopoly) of a product faces a single buyer
(monopsony) of that product. There is a single commodity w ithno close substitutes, the monopolist is the sole producer and
the monopsonist is the only buyer. Both are firm to maximizetheir individual profits. The actual quantity sold and its price
depends upon the relative bargaining strength of the two. Theprice tends to settle down between the monopoly price and
monopsonist price.
Monopolistic competition
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Monopolistic competition is a form of market structure in w hicha large number of independent firms are supplying product that
are slightly differentiated from point of view of buyer. Thissituation arises w hen the same commodity is being sold under
brand names e.g. lux, rexsona, dove etc. each firm is sole
producer of particular brand. They are monopolist as far as thatparticular brand is concerned. Since various brands are close
substitutes, there is keen competition w ith each other.
Product differentiation
It does not mean that the product of various firms arealtogether different, they are slightly different which means
they are close substitutes. They are not identical as in perfectcompetition but neither are they remote substitutes as inmonopoly. The products are fairly similar and serves as close
substitutes for each otherTwo bases of product differentiation
1. Characteristic of the product- such as features,trademark, trade names etc. real quantitative difference
like those of material used, design and workmanship areno doubt important means of diffe rentiating products. But
imaginary difference created through advertising, the useof attractive package, brand name are more usual
methods by which products are differentiated even if physically they are identical or almost so.
2. Condition surrounding the sales of the product- the
service rendered in the process of selling the product byone seller is not identical to that of the other. E.g. seller’sreputation of fair dealing, efficiency, general terms, his
way of doing business, seller’s location etc.
Selling cost and advertisement
Under monopolistic competition, the firm often competes
through selling cost and advertisement expenditure. Toincrease the demand for their product and thereby increase the
revenue made. The selling cost is broader than advertisementexpenditure, where as advertisement expenditure includes cost
incurred only on getting the product advertised in newspaper,magazines, radio, television but selling cost includes the
salaries and wages of salesmen, allowance to retailers for thepurpose of getting their products displayed and so many types
of promotional activities besides advertisement.
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Production cost is the cost of production includes all thoseexpenses which are incurred to manufacture and provide a
product to meet the given demand or want, while the sellingcost are those which are incurred to change, alter or create the
demand for the product. It should however be noted that the
distinction between production costs and selling costs cannotalways be sharply made e.g. it is difficult to say whether the
extra cost of attractive packaging is production cost or selling
cost, since purpose of advertisement is to increase or createthe demand for the product.
Importance of selling cost
Under monopolistic competition w ith product differentiationthe advertisement and other selling cost becomes important as
a competitive weapon at the disposal of the firm to increase thesales at the expense of the other. This is because the products
are close substitutes; each firm tries to convince the buyer thatits product is better than the other in the industry. A firm under
monopol istic competition may keep its price and productdesign constant and seek increase in demand fir its product by
increasing the amount of advertisement expenditure andthrough it persuading
In oligopoly the competition between the few
Character is t ics 1. Interdependence- the most important feature of oligopoly
is the interdependence in decision making between the
few firms which comprises the industry. When thenumbers of competitors are few, any change in price,output etc by a firm will have direct effect on the rivals
which w ill then retaliate in changing their own prices.2. importance of selling cost and advertisement- a direct
effect of interdependence of oligopolies is that the variousfirms have to employ various aggressive marketing
weapons to gain a greater share in the market or toprevent a fall in the share for which the firms have to
incur a great deal of cost on advertisement and othermeasures of sales promotion. Thus, there is great
importance for selling cost and advertisement3. Group behavior- perfect competition, monopoly and
monopolistic pose no problem of making suitableassumption about human behavior. Assumption of profit
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maximization gives overall good results in thesesituations where mass of people are involved and there is
no interdependence of the firms. But in oligopoly thetheory of group behaviors is important as there is
interdependence between the members of the group. Do
they form a group and agree to pull together in promotionof common interest or will they fight to promote their
individual interest.
Indeterminateness of demand curve
The demand curve shows what amount of the product a firmwill be able to sell at various prices. In case of other marketsituation we can have definite demand curve but under
oligopoly the interdependence of the firm. Under oligopoly thefirm cannot assume the rivals will keep their price unchanged,
so the demand curve faced by oligopolistic firm loses itsdefiniteness. Since, it goes on constantly shifting as the rivals
change the prices in reaction to price changes by firm.
Is price and output under oligopoly indeterminate?
The interdependence of firms and uncertainty about thereaction patterns of individual reaction patterns of individual
rivals, the easy and determinate solution to the oligopoly
problem is not possible
1. in the market situation wide variety of behavior pattern
are possible, rivals may decide to get together and co-operate or at the other extreme, they may try to fighteach other to death.
2. another difficulty is indetermination of demand curvefacing individual firms, because of the interdependence of
oligopolistic firm cannot assume that its rivals firm willkeep their price and quantity constant, when it makes
change in its price. Therefore an oligopolistic firm cannothave sure and definite demand curve, since it keeps
shifting as the rivals change their prices in reaction to theprice changes made by it.
The determinate solution to the oligopoly problem has been
provided in the following w ays –
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1. oligopolistic firm ignores interdependence. Now wheninterdependence disappears from decision making of the
firms, the demand curve facing them becomesdeterminate and can be ascertained
2. second approach to provide determinate solution to the
price and output problem of oligopoly is to assume thatthe oligopoly firm is able to predict the reaction pattern
and counter moves of the rivals
3. Third approach assumes that the oligopolistic firmsrealizing their interdependence will purse their common
interest and will form collusion and enter into agreementand work in common interest. They will maximize the
joint profit and share the profit, market or output asagreed between them.
4. Another approach is the game theory – in the theory of
game, an firm does not guess at its rivals reaction patternbut calculates the optimal moves by rival firms that is
their best possible strategies and in view of that adopt itspolicies and counter moves.
Collusive oligopoly
Setting price independently is rare in oligopoly markets. This
understanding or agreement among the oligopolistic may beeither formal or informal. A formal agreement is one when the
oligopolist after consultation and discussion agree to observe
certain common rules of conduct in regard to price. They maymake a w ritten agreement which may also provide for penaltiesto those who violate the agreement reached.
Tacit or informal agreement is without face to face contact,consultation or discussion they come to have someunderstanding between them and pursue a uniform policy w ith
regard to price output etc. in order to avoid price war and cutthroat competition, they enter agreement regarding a uniform
price-output policy to be pursued by them.
Col lus ive o li gopo ly i s o f tw o ty pes
1. cartels2. price leadership
Cartels
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In cartel type of collusive oligopoly price is jointly fixed andoutput policy through agreement.
Jo in t p ro f i t m a x im i z a t i o n
Let us assume that two firms have formed a cartel by entering
into agreement, we also assume that the cartel will aim atmaximizing joint profit for the member firms. As the demand
curve facing a cartel will be aggregate demand curve facing
consumers of the product, it will be downwards sloping. Jointprofits are maximized by fixing the industry output at the level
at which marginal revenue curve intersects the marginal cost.having decided the output to be produced, the cartel will a lot
output quota to be produced by each firm as that the marginalcost for each firm is the same, the profit made by individualfirms will not be retained by them but instead they will be
brought under a common pool. These profits will be divided bythe member firms according to the terms of agreement reached
between them at the time of forming the cartel. The allocationof output quotas of each of them is made on the grounds of
minimizing costs and not as a basis for determining profitdistribution.
Marke t sha r ing ca r te l s
Under market sharing by non-price competition only on uniformprice is set and member firms are free to produce and sell the
amount of output which will maximize the individual profits.
Though the firms agree not to sell at a price below the fixedprice, they are free to vary the style of their product andadvertisement expenditure. Of the different member firms have
identical costs, then the agreed uniform price will be themonopoly price which will ensure the maximization of jointprofits. But if the cost differs, the cartel price will be fixed by
bargaining between the firms. The level of the price will besuch that it ensures some profits to high cost firms. With cost
difference the cartels are quiet unstable. low cost firms willhave incentives to cut he price and increase their profits and
therefore that will led to break away from cartel. How ever theywill not openly charge low price but by giving secret price
concessions to the buyers, when this is discovered and openwar may commences and the cartel breaks.
Market sharing by quotasThis type of market sharing cartel is the agreement reached
between the firms regarding quota of output to be producedand sold by each of them agreed price. When costs of member
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firms are different, the different quota for various firms w ill befixed and therefore their market share will differ. The quotas
and market shares in case of cost difference are decided bybargaining between the firms. The quotas and market sharing
is the division of market region-wise that is geographical
division of the market between the cartel firms.
Price leadership
Price leadership is the important form of collusive oligopoly
1. Pr ice leadersh ip by low cost f i r m – in order to maximize
profit the low cost firm sets a lower price then the profitmaximizing price if the high cost firms. Since the high costfirms will be unable to sell their product at the higher
price, they are forced to agree to the low price set by thelow cost firms. The low cost leader w ill ensure that price
he sets must yield profits to high cost firms
2. Do min a n t f i rm p r i c e le ad e rsh ip – this dominant firm yieldsa great influence over the market of the product while
other firms are small and are not capable of making anyimpact on the market. As a result a dominant firm
estimates its own demand curve and fixes prices whichmaximize its own profit. The other firms which are small
having no individual influence on the price follow the
dominant firm and accept the price set by him, adjusttheir output accordingly.
3. Baromet r i c p r i ce leadersh ip - under which in old,experienced, largest and the most respected firm assumesthe role of custodian who protects the interest of all. He
assesses the change in the market condition with regardto the demand for the product, cost of production,
competition from the related product etc and makeschanges in the price which are best from the view point of
all firms in the industry.
4. Exp lo i t a t ion o r aggressive p r i ce leadersh ip – under which
a very large and dominant firm establishes its leadershipby following aggressive price policies and thus compels
the other firms in the industry to follow him in respect of price. Such a firm will often initiate a move threaten to
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compete the other out of the market, if they don notfollow him in setting their price.
Kinked demand curve
In oligopoly price remains sticky that is there is no tendency
on the part of the firm to change price of the commodity
even if the economic condition under go changes.The demand curve facing an oligopolist has a kink at the
level of prevailing price. The kink is formed at the prevailingprice level because the segment of demand curve above the
prevailing price is highly elastic and the segment of thedemand curve below the prevailing price is less elastic.
A kinked demand curve dD with a kink at point P has be
shown. The prevailing price level is OP and the firm isproducing and selling the output OM. Now, the uppersegment dk of the demand curve dD is relatively elastic and
the lower segment KD is relatively inelastic. Each oligopolistbelieves that if he lowers the price below the prevailingprice, his competitor will follow him and will accordingly
lower their prices, where as if he raises the price above theprevailing price level, his competitors will not follow his
increase in price. Rivals will not match his increase in priceabove the prevailing level; they will indeed match its price
cuts.
1. Pr ice reduct ion – if the oligopolist reduce its price belowthe prevailing price level on order to increase his sales,
the competitor will fear the customers will go to otherfirms who has reduced the price, so to retain the
customers he has match the rice cut. The competitor willquickly follow the reduction in price by the oligopolist, he
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will gain in sales only very little, which means the demandis inelastic below the prevailing price. Demand from D to
k w hich lies below the prevailing price is inelastic as verylittle increase in sales can be obtained by a reduction in
price by an oligopolist.
2. Pr ice increase – if an oligopoli st raises his price above the
prevailing level, there will be substantial reduction in his
sales. This is because as a result rise in price many of hiscustomers will withdraw from him and will go to his
competitor who w ill welcome them and will gain in sales.These happy competitors will have no motive to match
the rise in price, so small increase in price is followed bylarge reduction in sales above the prevailing price that iswhy the demand curve dk tend to be highly elastic.
Price does not always remain sticky
The kinky oligopoly demand curve theory, dose not follow that
the price always remains the same. Whenever the costs anddemand conditions undergo changes and when it is likely to
remain inflexible in the face of changing costs and demandconditions is explained below
1. Decl ine in cos ts - when the cost of production declines, theprice is more likely to remain stable. When the cost of
production falls, then the segment of demand curve above
the prevailing current price will become more elasticbecause with lower costs there is a greater certainty thatin increase in price by oligopolist will not be followed by
the rivals and thus w ill cause greater loss in sales. On theother hand the lower segment of the demand becomesmore inelastic as there is great certainty that reduction is
price will be follow ed by the rivals.
2. Rise in p r ice – if there is a rise in the cost, the price is notlikely to stay rigid. When there is rise in the cost of the
industry an oligopolist can reasonably expect that hisincrease in price will be followed by the other in the
industry. As a result, the segment of the demand curveabove the prevailing price wi ll become less elastic.
3. Decrease in demand – prices are likely to remain
inflexible and not fall when the demand decreases, itbecomes more certain that if one oligopolist decreases the
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price, others will follow w ith the reduction, as a result thelower segment of the demand curve which below the
prevailing price becomes more inelastic.
4. I n c re as e i n d e ma n d – when the demand increases, the
price is unlikely to remain stable instead price is likely torise. An oligopolist can expect that if initiates the
increases in price, his competitor will most probably
follow him. Therefore, the upper segment of the demandcurve will become less elastic.
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Fair & Lovely
STUDY OF THE INDUSTRY
The skin care market in India is around 3500 Cr which is growing at 15 -20% per
year. Out of which Fairness cream market alone constitutes for 2000 Cr. Fair &
Lovely which is the iconic brand of Hindustan Unilever Limited(HUL) enjoys as
much as 53% of the fairness market share with sales of 1100Cr. Its new
competitor is Cavincares fairever which holds a market share of 7 -8% growing
at 10% per year. The other competitors include Emami Naturally fair with 6%,Godrej Fair Glow with 6% market shares .
Share of Fair & Lovely in Skincare Market
1500
900
1100
0500
100015002000250030003500
4000
Total Skincare Market in CroresRupees
Fair & Lovely
Other Fairness
Creams
Rest of Skincare
products
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The Brand
Equating fairness with beauty has turned out to be a wonderful concept for the
fairness creams industry with Hindustan Unilevers Fair & Lovely capturing
nearly 53% of the market share. The company, enjoying a brand value of 1100
crore, has taken special care in its promotions and advertisements, which
showcase darker skinned women turning fairer on using the cream.
Evolution of the Brand
Hindustan Unilever's star product in the fairness creams segment had evolved
into one of the most successful brands over three decades in as many distinct
phases. Phase 1 saw the launch of the product in 1978 on the basic premise
that "younger women wanted to have fairer skin in order to attract a better
looking husband." HUL marketed this brand as a beauty cream capable of
providing fairness within 8 weeks. The value proposition lucidly communicated
to the consumer base read, "Get noticed by the man of your life."
During Phase 2 of Fair & Lovely's evolution, the brand talked to a younger
college going woman who is self confident and more modern in her outlook
and considers home remedies for facial care to be old fashioned.
In Phase 3, it further metamorphosed into a brand, offering emotional benefits
to achievers who actively seek solutions and do not look at marriage as the
ultimate source of personal achievement. Fair & Lovely thus became a brand
which communicated the ideology that Fairness leads to : Beauty - to Good
husband to Self-confidence which shapes a good career.
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Company Profile
Hindustan Unilever Limited (HUL) is
India's larges
fas
moving cons ¡ mer
goods company¢
touc£
ing the lives of two out of three Indians with over 20
distinct categories in home & personal
care products along with food &
beverages ¤ They endow the company with a scale of combined volumes of
about 4 million tonnes and sales of over Rs ¤ 13 ¢ 000 crores ¤ HUL is also one of
the country's largest exporters; it has been recognised as a Golden Super Star
Trading House by the Government of India. The Anglo- ¥ utch company Unilever
owns a ma jority stake (52¦ ) in Hindustan Unilever Limited.
Type Public company BS § ̈ HUL
Industry Fast Moving Consumer Goods (FMCG)
Founded 1933
Headquarters Mumbai, India
Key people Harish Manwani (Chairman), Nitin Paran jpe (CEO and
Managing Director)
Products Home & Personal Care, Foods, Water Purifier
Revenue 20,869.57 crore (US$ 4.53 billion) (2009-2010)
Employees Over 65,000 direct & indirect employees
Parent Unilever Plc.Distribution 6.3 million outlets and owns 35 ma jor Indian brands.
channel
Product-mix Width
Product-
Line
Length
Product-
Line
Length
Soaps Laundry Beverages Oral Care Foods
Dove Surf Excel Bru Close-Up Kissan
Liril Rin Brooke Bond Pepsodent Annapurna
Lux Wheel Lipton Knorr
Pears
RexonaLif ebuoy
Hamam
Breeze
Hair Care Deodorants Skin Care Cosmetics Ayurvedic
Sunsilk
Naturals
Axe Fair N Lovely Lakme Aayush
Clinic Rexona Ponds
Denim Vaseline
Aviance
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Fair & Lovely : Product Lines
y Fair & Lovely Anti Marks For Blemish-less Fair Skin
y Fair & Lovely Ayurvedic Balancey Fair & Lovely Multi Vitamin For Clear Fair Skin
y Fair & Lovely Ma Fairness For Men
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Ma jor Competitors
Cavin Kare © s Fairever
Godrej © s Fair & Glow
Emamis Naturally FairShahnaz Husain Fairness Dream Cream Emamis Fair And Handsome
Cavin Kares Natural Fairever :
The unique combination of saffron and milk has made it the
beauty secret of millions of beautiful Indian women.
Fairevers market share is 15 in India as a whole and 17
only in Southern India.
Godrejs FairGlow :
Fairglow Fairness Cream has an excellent floral perfume and
attractive packaging. FairGlows market share in fairness cream is
about 5 .
Emamis Naturally Fair:
Emami is the biggest competitor of Fair & Lovely. Emamis
market share in Fairness Cream is 6 .
Emami's Fair and Handsome :
Fair and Handsome cream has become a brand worth 100 crore,
since its launch in 2005. The total market size of the male fairness
category in India is about 150 crore today, of which Fair and
Handsome,the market leader, captures almost 70 per cent market
share in its category and is also doing extremely well in West Asia.
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History of Fair & Lovely
y Scientists at Unilever Laboratories in India were the first one to discover
the skin lightening action of Niacin Amide that led to the development
of a unique and patented formulation of Fair & Lovely in 1972.
y Hindustan Unilever is the first company which has introduced fairness
cream.
y It was launched in 1978.
y Fair & Lovely is an ISO certified product, meeting the highest standards
in skin care and saf ety.
y It contains no bleach or harmful ingredients. Instead, it provides visible
fairness in a saf e and gradual process.
53
8
27
FA N SS CREA MARKET SHARE
Fair & Lovely
Fairever
fairglow
naturally fair
others
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Success of Fair & Lovely
Fair & Lovely would not have been a commercial success if it was not
advertised. With the USPs like Fairn
ss in 4 weeks and Power of Beaut
, it
has been able to create the positioning of a cream that fulfils ones Dreams
and Desires.
y In 2003, it was rated as Twelfth Most Trusted Brand In India by
ACNielsen O G MA G.
y In 2004, it was identified as a SUPER BRAND.
y Consumers now perceive the brand as empowering, achieving and
transformative.
y A lot of its detractors have vanished, thanks to the launch of Fair &
Lovely Ayurvedic and new variants.
y Recently, it has been rated as The Ninth Most Trusted Brand In India,
after the largest survey conducted ever, by The Nielsen Compan
. (Dated 1
stSeptember 2010).
Failuresy Fair & Lovely tried to capture Fairness Soap market for which it launched
Fair & Lovely Soap, but failed miserably.
y It had launched numerous other products like Anti Aging Cream, Skin
Clarit
Cream, Acti
e Sunblock Lotion etc. But most of them were
withdrawn within short periods of time.
y It failed badly in its attempt of capturing Premium Segment with thebrands Fair & lo
el
Radiance Cream.
y Fair & Lo
el
Menz Acti
e has lost out to its biggest competitor Emamis
Fair & Handsome.