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Essay / The growing demand for anti-acne products in India...
In India, the problem of acne is more common among adolescents and young people. To get rid of this problem, there are many varieties of acne creams in the Indian market. There is a growing market for medicated skin products like acne treatments, antifungal and antibacterial creams, etc. This market is valued as per RSP (Retail Selling Price) and also includes applicable taxes (Acne free, 2012 Indian OTC pharmaceutical industry witnessed rapid growth between 2008 and 2012. In this context, the growth of the vitamins and minerals division has grown significantly This is a trend that is expected through 2017 (OTC Pharmaceutical India, 2013) There is a growing demand for anti-acne products in India and the Indian pharmaceutical industry market. OTC recorded a total revenue worth USD 1,834.2 million in 2012. shows the compound annual growth rate (CAGR) of 8.5 percent during the period 2008-2012. is with the expected CAGR of 9.7 percent over the five-year period from 2012 to 2017 this is expected to provide a boost to the market value worth $2,913.5 million by the end of 2017. The markets of Japan and China are growing with the CAGR of 7 percent and 5 percent respectively and are expected to reach a value of $21,948.0 million and $15,902.3 million in 2017. (marketline, 2013). Table 1 Value of OTC Pharmaceutical Industry in India from 2008 to 2012 AnalysisPolicy AnalysisIt was after 1991 that the Indian government introduced several changes in Indian markets like deregulation of markets in India. This helped eliminate the bottle necks that were responsible...... middle of paper ......ts. Thus, Bursti Limited would use competitive pricing strategy so that it can make a profitable entry into the Indian markets. Customers would be charged prices such that they would be able to find true value for the amounts they spend on its products. Porter's Generic StrategyCost Leadership StrategyBursti Limited would focus on cost leadership strategy by ensuring that its costs the number of operations is lowest and it is able to demonstrate its effectiveness against the competition on the market. To do this, it would use all possible means such as outsourcing certain operations or setting up production plans in low-cost sites, etc. in order to be able to achieve the objective of having the lowest production cost and to achieve the position of being a leader in reducing its costs. This would help the