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Strong growth seen by Mead Johnson |
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The infant nutrition supplier Mead Johnson Nutritionals Thailand is confident that its sales will continue to grow at a double-digit rate this year, boosted by strong demand. However, executives declined to provide a sales target, claiming only that its growth has exceeded the overall powdered milk market, worth 13 billion baht. To support its growth, the company is spending 500 million baht, a 15% increase from last year, on marketing activities to promote its new formula for Enfa brand. The company is a unit of the drug maker Bristol-Myers Squibb. Jorge Pinedo, the new general manager of Mead Johnson, said the company would increase its focus on below-the-line marketing in the second half in order to better reach its target. ''We aim to educate parents and health-care professionals on nutrition through events and seminars so that they can be sure whether they're buying the right products with sufficient nutrition for babies,'' he said. So far, the company, which produces premium-grade powdered milk, has seen no serious impact from rising inflation on its sales. ''Our customers are not price-sensitive. Nutrition-conscious parents are willing to pay more for premium baby milk products,'' Mr Pinedo said. Growing demand for science-based nutrition products among Thai parents has driven the growth of premium powdered milk to double that of the standard powdered milk market. According to Nielsen's Retail Index, Thailand's powdered milk market for babies is worth about 13 billion baht, with Mead Johnson controlling a 21% share. Mead Johnson says its Enfa products control about 60% of the premium segment, which accounts for half of the total baby powdered milk market. |
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Bangkok Post, 26.06.2008 |
