Goodcare sets apart Rs 1.5 cr for promotion

With an annual turnover of Rs 9 crore, Goodcare Pharma Private Ltd, a member of the Baidyanath group, which manufactures ayurvedic products, has earmarked Rs 1.5 crore for popularising its products in the country and has eyed the northern part of the country as a thrust area for sales promotion.

Currently, the company was engaged in OTC (over-the-counter) products for diseases such as stress and diabetes under the Indian system of medicine and it had found great potential in Northern states for its products, an official of the company said.

The company has 700 products in its portfolio, manufactured at its two factories in Joka near Kolkata and Gurgaon.

The Baidyanath group has a turnover of Rs 200 crore, with Goodcare accounting for Rs 9 crore. The company expected a turnover growth rate of 25-30 per cent in the current fiscal, he said.

Describing the products of the company as "safe, effective and natural", the official said the products were being provided in all the metros of the country and also in smaller towns. He put the size of the ayurvedic products market in India at around Rs 1,500 crore

Giving details about the brand promotion, he said the company had spent around 1.5 crore on the advertisement of the products and promos were being handled by four ad agencies--Mileage, Response, RK Swami Advertising and ACI.

Goodcare products are exported mainly to Italy, Germany, New Zealand, Singapore and the United States.

He said before launching a product, it was clinically tested at the Institute of Post Graduate Ayurvedic Education & Research at the SVSP Hospital, Kolkata. About the target audience of the company, he said basically it targeted the age group of 20-60 years because a study had shown the health of 86 per cent of the individuals responded wonderfully.