P&G makes investment on Bollywood
Proctor & Gamble employed a new strategy as it tries to penetrate the stronghold of Colgate Palmolive Co. and Hindustan Unilver Ltd. over the Indian toothpaste market. The company, which struggled with its rival's 73% market share, will make a start studded investment on Bollywood actors.
Proctor & Gamble is still the biggest producer of consumer products in the world, but the Indian toothpaste market has been elusive to the giant company. P&G hired Madhuri Dixit-Nene, a famous Hindi film actor, as endorser of its brands. The strategy involves putting Madhuri, a 46 year old mother, as the face of the toothpaste product. This way, Harish Bijoor said, the company targets all age groups. Bikoor is a brand advisor of various companies.
"To get to a market share of even 4 percent or so will be a Herculean task," explained Abhijeet Kundu, an analyst at Mumbai-based Antique Stock Broking Ltd.
Colgate holds 51% of the entire market share, while Hindustan Unilever controls 22%.