CP-MEIJI sets sights on the Cultured Drinking Yogurt Market Introducing ‘PAIGEN PRO5’ for Health Conscious Young Generations
CP-MEIJI to invest 70 million baht to market proactively in the cultured drinking yogurt segment. The company is launching its latest product ‘PAIGEN Pro5’, drinking yogurt with 5 benefits to health, targeted health conscious young generation. The company sets sights on revenue of 800 million Baht, and to become No.3 in the market by the end of 2014. Superstar ‘Nadech Kugimiya’ will be the presenter for the brand.
Mr. Sujarit Mayalarp, President, CP-MEIJI Co., Ltd., leading player and producer of quality dairy product, said that there is a growing trend towards health conscious lifestyle. Young generation, men and women, are aware that good health starts simply with healthy digestive system. Drinking yogurt is one of the popular choices as it helps regulate bowel movement and convenient to consume. CP-MEIJI sees this opportunity, and is thus introducing PAIGEN Pro5, targeting smart eater male and female 18-29 years of age.
PAIGEN Pro5 is a superior choice of drinking yoghurt due to the 5 following health benefits; 1) contains probiotics 2) uses three types of live cultures 3) rich in vitamin A and E - high in anti-oxidants 4) 0% Fat and 5) contains nutrients from quality milk. The results of the vigorous market research assure that PAIGEN PRO5 has a unique selling point / positioning in the market that appeal to the target group. In addition, the taste of PAIGEN PRO5 is second to none.
PAIGEN PRO5 Drinking Yogurt is now available at convenience stores, supermarkets, hypermarkets, and other leading stores nationwide in 2 sizes of 85cc bottle at 7 baht and 150cc at 10 baht. PAIGEN PRO5 Drinking Yogurt comes in five different flavors: Natural, Orange, Blueberry, Strawberry, and Mixed fruits.
The marketing budget of 70 million baht is considered the largest investment CP-MEIJI has ever made in its drinking yogurt portfolio. This budget will be spread across all key communication media in reaching the target audience. As part of the launch campaign, superstar ‘Nadech Kugimiya’, as the presenter will speak about the 5 health benefits of the new PAIGEN PRO5 in a TV commercial to be aired on March 6th 2014 nationwide.
CP-MEIJI also plans for a nationwide sampling caravan to stimulate product trials which will undoubtedly lead to future purchases. Together with aggressive sales promotions, it is expected that PAIGEN PRO5 will eventually rank among the top drinking yogurt brands in the market.
Mr. Sujarit went on to say that the sales target of PAIGEN Pro5 is expected at 800 million baht this year, driving the total growth of CP-MEIJI’s drinking yogurt portfolio by 90%. The company expects to be ranked third by the end of 2014 and second in the next five years.
In the near future CP-MEIJI plans to export PAIGEN Pro5 to overseas market especially in the ASEAN region. In considering the overseas expansion, the company is studying and researching the market to understand consumer behavior and preferences. This will help to identify the appropriate selling point and packaging design for each country.
Overall, the market of cultured drinking yogurt is the largest segment of drinking yogurt in Thailand. Towards the end of 2011, the market shrank drastically from the severe flood. Several key brands were affected and had to stop production. However, in 2013, the market recovered quickly as the players adjusted their marketing strategies and continuously launched marketing activities and new products. Also put more focus on building stronger mobile selling crew in traditional trade channel in order to cover more consumers in different areas.
The market is expected to continue growing in 2014 as the cultured drinking yogurt remains a popular choice among consumers across the country. It is a product that meets the requirement of today’s lifestyle with its health benefits and value for money. The convenience of consumption is also an important aspect.
