Bukwang’s successful launch of Neomed toothpaste on home-shopping marked its expansion on OTC business.
A functional toothpaste Neomed has been launched on home-shopping network with positive feedbacks from satisfied customers.
Representative brands are expected to grow through various advertising channels.
Bukwang Pharmaceutical Co., Ltd. (“Bukwang”) OTC Business has been focusing on expanding the distribution channels to provide runway for future growth. The successful launch of NeoMed launching on nationwide home-shopping network in October 2018 marked the first step of many activities to come.
Following the launching in October 2018, the broadcast was continued for six more times highlighting the uniqueness of Neomed toothpaste. Feedbacks from customers were received with a rate of 4.8 out of 5 in satisfaction index. One customer mentioned “Neomed is definitely different from the others”. With these positive feedbacks, Bukwang’s OTC Business is currently preparing 2nd and 3rd home-shopping launch for differentiated product line-up.
Bukwang’s advertising strategy for its major brands has been successful so far. For example, current advertisement for Sirinmed-F, a toothpaste for sensitive teeth, doubled the revenue in the first half of 2019 compared to the same period of last year.
In addition to TV commercial, Bukwang has also been using other digital media to target broader population, such as Youtube that reached more than 9.4 million views within a month.
Another example of Bukwang’s major brand, Alaxyl, outperformed average market growth by approximately three times with 15.7% increased in growth rate (source: IQVIA data 1Q19) following its first TV commercial in 2018.
Tabex gel has been repositioned by changing the packaging design, adopting a more youthful design that fits its prospective targets from children, housewives, to office workers. Bukwang is now preparing target specific advertisements using digital media this summer.
By expanding distribution channels, brand-line up and new product launch, Bukwang’s OTC Business has booked overall growth close to double-digit rate and plans to upgrade its image to both its customers and pharmacists.