Key Points:
Philip Morris International (PMI) has stated that their new tobacco products in the Philippines are still in the early stages, but they plan to introduce more products in the future.
By learning from the successful experience in Manila, PMI is confident in promoting new tobacco products in the Philippines.
PMI promises to launch a diverse range of products, from high-end to mid-range, in the Philippine market in the future.
According to a report on April 8th, Philip Morris International (PMI) acknowledges that its new tobacco product, such as the IQOS device, is still in the "very early stages" in the Philippines. Stefanos Volpetti, the Chief Consumer Officer responsible for smoke-free products, has promised to offer more product choices for Filipino consumers in the future.
During an interview with the media at the "IQOS Curious X" press conference held in Milan, Italy, Volpetti expressed optimism about the prospects of the Philippine tobacco market transitioning to new tobacco products.
In the Philippines, we are still in a very early stage. But we are confident in new tobacco products, especially with the progress we have seen in the Greater Manila area, which shows the potential for nationwide promotion.
Volpetti compared the current situation in the Philippines to when new tobacco products were introduced in Milan and Nagoya.
We are very confident because we have already undergone this journey in more than 90 countries worldwide. The success in Manila has given us confidence to believe that promoting tobacco alternatives on a national scale is possible.
In order to better penetrate the market in the Philippines with new tobacco products, PMI also acknowledges the challenges they face in addressing misconceptions and affordability issues. They emphasize the importance of establishing a regulatory framework to help smokers understand the benefits of new tobacco products compared to traditional cigarettes.
He assured that in the future, a range of products will be provided for the Filipino market, offering new tobacco products for both high-end and mid-range consumers. Although currently focused on "premium" products, Volpetti said, "The future product portfolio will be more balanced to cover both high-end and mid-range markets.
When designing consumable products, we take into consideration the preferences of global consumers in terms of taste, aroma, user experience, and budget. Our mission is to ensure that our entire product line offers a wide range of options to meet the diverse needs of consumers worldwide.
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