AgTalk | Innovation is a continuous process for Adani Group: Atul Chaturvedi

Atul Chaturvedi has been associated with the Adani Group since 1998 and has played a key role in the development of the Agro business of the Group. Currently the CEO of the Agro business of the Group as well as of the joint venture Adani Wilmar Ltd, he has acquired hands on experience in handling Agro Products, Vegetable Oils, Oilseeds within India and in other countries such as China, South East Asia, Europe, Middle East, Canada, Australia etc. Prior to joining the Adani Group he was Vice President of S.M. Dyechem’s Vidisha Unit manufacturers of the famous “Vital” brand.

Adgully caught up with him during the launch of their product, Rice Bran Oil to learn more about their strategies and plans. Chaturvedi is also on the managing committee of various organizations like SOPA, International Castor Oil Association, and CII etc.

Adgully (AG): Having been in the industry for almost three decades now could you give us a sense of the market and your percentage share in it? Also could you shed some light on how the market has evolved over the years?

Atul chaturvedi (AC): As in a branded segment, nationally, we have close to 14% share in the market. The market has evolved a lot. The biggest change that I have seen is the shift towards liquid oils and the shift from loose oils to packed oils. The packed segment is growing at a rate of 12% .

AG: What have been the key marketing and growth strategies?

AC: Firstly, we had the guts to call Soya Oil to the country. We changed the country’s perception of Soya Oil having a fishy odour and gave them a purely odourless and colourless oil. Secondly there are not many companies, in the vegetable oil segment, who believe in spending money on marketing but we went ahead and did that hence creating a successful brand in the vegetable oil space and third, we have not taken a step back when it comes to taking a plunge.

AG: What are your views about the involvement of social media in the marketing and promotional strategies?

AC: (Laughs) Today one cannot sustain in the industry without being in the social media space. So we certainly use a lot of social media and we will continue doing it.  

AG: How has  the year 2012 been for you?

AC: Well god has been kind to us. We were able to maintain our growth rate this year as well hence it has motivated us to launch more products going forward.

AG: What strategies help you in maintaining the consistency of launching something new YOY?

AC: We believe in doing a lot of research and hence whenever we see a need and a demand  developing in the country we start planning the new offering which can cater to that particular demand. We keep stocking for opportunities.  

AG: What have been the key markets for you, nationally and internationally?

AC: As far as edible oil category is concerned, India has been the best market. We are also one of the biggest players in the Castrol Oil market which is non-edible oil category and are associated with 45% of India’s export in that category, right across the world. So overall if I see, India has been a growing market and has served our brand a lot. 

AG: What have been the key challenges for the group?

AC: Firstly, retaining talent and secondly creating awareness about the new categories and new products that we launch in India.

AG: With the new product, Rice Bran Oil, being added in your kitty, how are you planning to take it ahead in terms of promotions and marketing?

AC: We saw the need and the right time, hence launched this product. We would first want to create awareness about the Rice Bran Oil and then we would be promoting it a lot through health platforms. Initially, we are expecting to supply somewhere around thousand tons per month. We have an advantage of being the only company with pan India presence.

AG: Could you shed some light on the packaging and pricing strategy?

AC: We keep on upgrading our packaging lines. It is a continuous process. We keep on innovating the outline and packaging of our products. We always keep in mind all the income sectors while pricing our products.

AG: How are you planning to welcome 2013?

AC: We are planning to welcome 2013 by ensuring Rice Bran Oil becomes the market leader in its category and we are also getting into value added products of Soya, so we will be evaluating that as well. | By Aanchal Kohli [aanchal@adgully.com]      

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