Beruflich Dokumente
Kultur Dokumente
Submitted By: Tanay Pandey Rakesh Balani Deepak V. Mohan Sunali Joshi Pradeep Kumar Binitaswa Malick Trisha Chaturvedi
Letter of transmittal
April 4, 2012
Dear Sir/Madam,
We as marketing consultant firm are submitting you to the report that you requested. This report concentrates on the relevant study of the problems discovered with possible solutions from our side after conducting a research in the area of Greater Noida.We would like you to have a look on the report. We will surely welcome your queries.
TABLE OF CONTENTS
LIST OF GRAPHS4, 5, 6 EXECUTIVE SUMMARY...7 BACKGROUND...8 INDUSTRY OVERVIEW.8 ENVIRONMENTAL CONTEXT OF THE PROBLEM..9 SWOT ANALYSIS...................10 PORTER FIVE FORCES MODEL: Threat of new entry.11 Competitive Rivalry..11 Bargaining power of suppliers. 11, 12 Threat of Substitutes12 PROBLEM DFINITION/RESEARCH OBJECTIVE.12 APPROACH TO THE PROBLEM: RESEARCH DESIGN..12 SAMPLING METHOD.13 QUESTIONNAIRE DESIGN.13, 14 FIELD WORK .15 DATA ANALYSIS ..15 RESULTS..15 LIMITATIONS..16 RECOMMENDATIONS16 REPORT AND COST AND TIME16, 17 REFERENCES17
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List Of Graphs
12 yes no 88
Maggi 00 4 6 10 Knorr Soupy Noodles Top Ramen Yippee 80 Tasty Treat Foodles
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Offer
Q3. What is the factor that fascinates you more in that brand?
0 12 Yes No NA 88
Q6. Which media informed you about Yippee noodles at first time?
Executive Summary
ITC food division brand Sun feast launched its new product YIPPEE noodles to get a competitive advantage over Maggi and other noodles in the market such as Top Ramen, Foodles etc. but still the leading company may find difficulties to get over the highest market share of Maggi i.e. 85% approx. The research firm is destined to find out the reasons behind the low market share and the influence of customer satisfaction level behind the same and other such factors that actually contributes to the success of the new product. This research would enable you to know how the market share can be increased that includes various factors such as the consumer behavior towards noodles and Yippee noodles as well including the reasons behind the low market share and the competitors scenario in the prevailing market situations that will include descriptive research in the process. Data collection would be preferred as primary as well as secondary for supporting the research done by us and in some other relevant areas. The location preferred is Greater Noida for the convenience and time constraint.
Background
The fight for the lucrative instant noodle market in India is getting more tangled. The latest to join the battle, business conglomerate ITC Ltd, has decided to take its instant noodle brand, Sun feast Yippee after tasting initial success in south India. According to press report 2010, the instant noodles market in India is pegged at Rs 1,200 crore and is seeing a15-20% growth yearon-year. ITC has launched noodles under its Sun feast brand, FMCG companies like GlaxoSmithKline and HUL and private labels like Big Bazaar's Tasty Treat have also entered this segment. The instant noodle category is a low-penetration product, so there is enough room for four to five players. So the research would cover the market share of this brand as ITC is planning to give a stiff competition to Nestl's Maggi.
Industry Overview
The Indian FMCG sector is the fourth largest sector in the economy with an estimated size of Rs.1, 300 billion. The sector has shown an average annual growth of about 11% per annum over the last decade. Products which have a swift turnover and relatively low cost are known as Fast Moving Consumer Goods (FMCG) FMCG market is highly fragmented and a considerable part of the market comprises of unorganized players selling unbranded and unpackaged products. Examples of FMCG commonly include a wide range of repeatedly purchased consumer products such as toiletries, soap, cosmetics, oral care products, shaving products and detergents, as well as other non-durables such as glassware, bulbs, batteries, paper products, and plastic goods. Penetration level and per capita consumption in many product categories is very low India has 17% of the world's population and that half of these people are below the age of 25. With a median age of 25 years, increasing numbers are joining the Indian workforce. India's share in world consumer spending is set to enlarge from 1.9% in 2005 to 3.1% in 2020. Income in the hands of younger consumers with a higher propensity to spend is providing optimism to the economy while opening up new categories in the FMCG space. Key growth drivers to the Industry are as follows: Robust growth in Indias GDP Growing urbanization Evolving consumer life style Increased income in rural areas Spending Pattern Changing Mind Set of Consumer Growth in retail industry
SWOT ANALYSIS
SWOT Analysis Attractive packaging of the product Low Operation Cost Good product distribution and availability 3.Lots of flavors and varieties available
Strength
Weakness
Media generated news about health issues Brand loyalty of Maggi is tremendous Untapped rural markets Rising Income Level High Spending in Consumer Goods Dual Income No Kids, single professionals Newer tastes
Opportunity
Price wars with other noodle brands Slowdown in rural demand Threats
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Threat of new entry: As the market is growing at 15-20 percent annually, new entrants may consider it a profitable venture As branded players are priced similarly, new players might penetrate by adopting a lower price or by offering more attractive offer at the same price New players with a distinct USP and marketing strategy may find it easier to enter the market
Competitive Rivalry: High Competition Branded Players involved in competition to increase market share, entice new consumers, find new markets Low Quality differences among branded players. Quality difference between branded and unbranded offerings is offset by low price offered by unbranded players Cost of switching is low as all players have a similar pricing strategy Brand Loyalty is high for branded players
Bargaining power of suppliers: Suppliers provide raw materials such as Atta, mixture of water and flour, spices and other ingredients. Their ability to raise input costs is high.
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Higher cost of input commodities leads to lower margins, making the market unattractive for distributors and retailers Shortage of any input material may also affect production and thus impact distribution. Established players like Maggi and others already have a well-established network of suppliers.
Threat of Substitutes: Indian Snack Segment is high-volume Almost similar price of competitors product
Problem Definition/ Research Objective 1. To know about the awareness, frequency, perception and preference of consumers for noodles 2. To know about the factors that entertain customers in noodles brands. 3. To know about the suitable advertising media for the product. 4. To know about the satisfaction level regarding price and packaging of the product. 5. To know about the competitors in the market
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Sampling Method After analyzing the target population which are in this case, children of middle class family and single professional and fast food lovers then we design sampling frame consisting following demographics: members of age group of 15-30, of middle class family. Out of which 50% are childrens of age group 15-20, 30% are single professional and 20% housewives. In the surveys we prefer 45% of male and 55% of female population. Which will be follows by Sampling Technique of Non-Probabilistic method of Judgmental and Quota Sampling? Analysis will be perform on the basis of income, sex and age, awareness, brand preference and buying decision of the consumer on the sample size of 250.
Questionnaire Design
Name: Occupation: Contact: Q1.D o you like to have noodles? Yes No
Q2. Which noodles brand do you prefer the most? a. Maggi b. Top Ramen c. Knorr soupy noodles d. Tasty Treat e. Foodles Q3. What is the factor that fascinates you more in that brand? a. Taste b. Price c. Nutrition d. Packaging e. Quantity f. Offers Q3. How often do you consume noodles in your meals? a. Daily b. Weekly c. Monthly Q4.Are you aware of ITC YIPPE noodles? Yes No
Q5. How often do you consume YIPPE noodles in your meals? a. Daily b. Weekly c. Monthly
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Q6. Are you satisfied with the price of Yippee noodles? Yes No
Q8. Are you satisfied with the advertisement of Yippee noodles? Yes No
Q9. Which media informed you about Yippee noodles at first time? a. Newspaper b. T.V. c. Word of mouth d. Departmental store
Q10. Which media fascinates you more for advertising a product like noodle? a. print b. digital Q11.we will appreciate your suggestions (if any).............................
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Field Work
The insights obtained from the respondents will help in decision making and help company in improving their product, if required. To collect the data, different members of the group will go to hangout areas of Greater Noida in order to take insights from the consumers. The group member will go either individual or in group of two in different markets of Greater Noida to collect the data.
Data Analysis
12% of the respondents dont like the Yippee noodles whereas 88% of them like it. 80% of the respondents prefer Maggi over other noodle brands out of which 10% prefer Yippee. The survey predicts that most fascinating factor in the noodle segment is taste over price and nutrition. Most of them consume noodles on a monthly basis. 88% of them are aware of ITC Yippee noodles. Approximately 80% of them are satisfied with the price packaging and advertisement of the product. T.V. proved to be the most effective channel of advertisement for a product like noodles.
Results
We were able to know about the perception, attitude, preferences and frequency of purchase from consumers. The research made enabled us to study the competitors product preferences over Yippee noodles. We also studied about the suitability of best advertising media for noodles. The research justified the factors that fascinate consumers in their favourite noodle brands. The research enabled us to know whether the consumers are satisfied with the price and packaging of the Yippee noodles or not.
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Limitations
Due to less time the researchers were unable to cover large set of respondents which might have provided us with more concrete results. Researchers found the respondents hesitant to fill the questionnaires. Researchers felt that most of the researchers out of preoccupancy didnt show interest in responding. The research was not funded by any organisation that restricted us to Greater Noida only.
Reporting
Following the quantitative section of the research, an interim presentation report will be submitted. This will be followed by a meeting with firm to discuss the next stage of the research. An outline PowerPoint presentation will be created. Once this has been approved, there will be a formal presentation of all information collected by research, along with conclusions drawn. Copies of report summarizing the findings of all phases of the research will then be distributed to
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other people in charge. Transcripts of the interviews, Survey forms, Records of the telephonic interviews and online surveys will be provided to the client.
References
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