Market Stucture

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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.



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.



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



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



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.



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



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 –



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



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



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



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



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



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.



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



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.



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



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



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.



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



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.

Documents

Market Stucture