Sie sind auf Seite 1von 33

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

Contents:
I.EXECUTIVE SUMMARY ................................................................................................................... 1 II. INTRODUCTION: ............................................................................................................................. 2 III.OBJECTIVES AND SCOPE: ............................................................................................................. 4 IV. THEORETICAL PERSPECTIVE:..................................................................................................... 5 4.2 Indias FMCG sector ...................................................................................................................... 5 4.3 SWOT Analysis of FMCG sector in India ...................................................................................... 5 Strengths: ......................................................................................................................................... 5 Weaknesses: .................................................................................................................................... 5 Opportunities: .................................................................................................................................. 6 Threats: ............................................................................................................................................ 6 4.4 FMCG sector Growth Prospect in India.......................................................................................... 6 Governmental Policy........................................................................................................................ 6 Central & State Initiatives ................................................................................................................ 6 Foreign Direct Investment (FDI) ...................................................................................................... 6 Large Market ................................................................................................................................... 6 Changing Profile and Mind Set of Consumer ................................................................................... 7 Growth of Organized Retail ............................................................................................................. 7 4.5 Packaged Food Sector in India ....................................................................................................... 7 4.6 Packaged food mostly focused on Nutritional and Health Benefits ................................................. 8 V. METHODOLOGY: ............................................................................................................................ 9 VI. PROCEDURE OF WORK:.............................................................................................................. 10 VII.ANALYSIS OF DATA: .................................................................................................................. 11 7.1 Analysis of data about complete study on distribution channel................................................. 11 Distribution process - ..................................................................................................................... 11 Problems and expectations of stakeholders of the distribution channel- .......................................... 11 Suggestions for company to improve sales .................................................................................. 12 7.2 Analysis of data about Competitive analysis: ............................................................................... 12 7.3 Analysis of data about less selling of some products: ................................................................... 13 7.4 Analysis of data about consumer preference level of Haldirams Prabhuji: ................................... 13 VIII. FINDINGS&INFERENCES: ........................................................................................................ 14 8.1 Findings from objective I ............................................................................................................. 14 8.2 Findings from objective II ............................................................................................................ 14 Porters Competitive Forces Model: ............................................................................................... 14 8.3 Findings from objective III ........................................................................................................... 15 8.4 Findings from objective IV .......................................................................................................... 15 IX. RECOMMENDATIONS: ................................................................................................................ 16 X. LIMITATIONS: ............................................................................................................................... 17 XI. CONCLUSIONS: ............................................................................................................................ 18 XII. REFERENCES:.............................................................................................................................. 19 XIII. Annexure ...................................................................................................................................... 20 Questionnaires: .................................................................................................................................. 23 HOUSE OF QUALITY ..................................................................................................................... 31

Contents

Page i

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

Table of figures:
Figure 2: Satisfaction level of distributors------------------------------------------------------------------------ 11 Figure 10: Satisfaction level of retailers -------------------------------------------------------------------------- 12 Figure 14: Comparative discussion with the biggest competitor swissyum ---------------------------------- 12 Figure 20: Liking level of consumers about Haldirams Prabhuji product ----------------------------------- 13 Figure 1: Haldiram's Prabhuji product range --------------------------------------------------------------------- 20 Figure 3: Frequency of getting damage product according to distributors ------------------------------------ 21 Figure 4: Sales increase due to damage product replacement according to distributors -------------------- 21 Figure 5: Satisfaction about company's sales persons according to distributors ----------------------------- 21 Figure 6: Getting information about schemes according to distributors -------------------------------------- 21 Figure 7: Satisfaction about company's ISRs according to distributors --------------------------------------- 21 Figure 8: Distributor's visit in retail in a week ------------------------------------------------------------------- 21 Figure 9: Distributorship of other companies of distributors --------------------------------------------------- 21 Figure 11: Frequency of getting damage product according to retailers -------------------------------------- 21 Figure 12: Satisfaction about company's sales persons according to retailers -------------------------------- 22 Figure 13: Sales increase due to advertisement according to retailers ---------------------------------------- 22 Figure 15: Availability of products in market according to consumers --------------------------------------- 22 Figure 16:Preference of gift item according to consumers ----------------------------------------------------- 22 Figure 17:Awareness about products of Haldirams Bhujiawala other than Bhujia,Mixture and sweet according to consumers --------------------------------------------------------------------------------------------------------- 22 Figure 18: Prefernce level of Bhujia and Mixture products according to consumers------------------------ 22 Figure 19: Prefernce level of sweet products according to consumers ---------------------------------------- 22 Figure 20: Liking level of consumers about Haldirams Prabhuji product ----------------------------------- 23 Figure 21:Getting damage product frequency according to Franchisee owners ------------------------------ 23 Figure 22: Satisfaction according to Franchisee owners -------------------------------------------------------- 23 Figure 23:Satisfaction about companys sales persons---------------------------------------------------------- 23 Figure 24: Sales increase due to damage product replacement scheme according to Wholesalers -------- 23 Figure 25: Frequency of getting damage products according to Wholesalers -------------------------------- 23

Table of figures

Page ii

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

I.EXECUTIVE SUMMARY
This summer project report with the title of A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED I have tried to enlighten the problems, expectations and suggestions of stakeholders of the distribution channel. Part of this project was dedicated to understanding the consumer behavior towards the products of this company. I have done competitive analysis of the company based on product pricing, product availability, product varity & quality, Customers awareness. Under this project I have also tried to find out the reasons behind less selling of some products of this company. This market research was conducted in five districts of WestBengal through questionnaire. In this project I found out that the distributors of this company is overall more or less satisfied about the company. But franchisee owners are not so satisfied about the company. Because retailers are selling same products in market. So consumers are not so interested about the franchisee. Retailers are getting too much profit by selling Haldirams Prabhuji products. But the common problem is that stakeholders of the distribution channel are not getting products all time from the company. In occasion time products are not available in company. Different less selling products have different problems like taste problem, quality problem, high price problem and awareness problem. Maximum consumers preferred Haldirams Prabhuji product very much. Consumers too much preferred snacks products of Haldirams Prabhuji. But in the case of sweets they are not much preferred Haldirams Prabhuji. Consumers are not aware about less popular products. Haldirams Prabhuji is the market leader in the branded snacks segment in the Kolkata area. In the snacks segment the others branded competitors of Haldirams Prabhuji are MPS, Swissyum, Parle Agro, Kitkat, Colis.Swissyum is the closest competitor of Hadrians Prabhuji. In the case of product pricing and product verity (local market target) swissyum is better than Haldirams Prabhuji in current scenario.In the sweet segment local sweet shops are the main competitors.In the case of packaged branded sweets Haldirams Prabhuji is the market leader. The project report concludes with some important strategies and recommendations to the company like unique products for franchisee, giving target to the ISRs (Internal Sales Representative) to find out new counters, re-launch of Potato chips, strict area specification for distributors, damage replacement scheme for less selling products, launching children targeted product, proper demand estimation, schemes for retailers. Overall the project will serve the company in terms of developing distribution pipe line, improve consumer satisfaction level, increaseing sales of the less selling products and understanding competitors strategy.

Executive summary

Page 1

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

II. INTRODUCTION:
1.1 Purpose

In this project report I have tried to enlighten the problems, expectations and suggestions of stakeholders of the distribution channel. Part of this project was dedicated to understanding the consumer behavior towards the products of this company. I have done competitive analysis of the company based on Product pricing, Product availability, Product Varity & quality, Customers awareness. Under this project I have also tried to find out the reasons behind less selling of some products of this company. This market research I have conducted in five districts of WestBengal.I think this project report is beneficial from the organizational point of view.

1.2 Profile of the Company


Haldirams Prabhuji has been rightly termed as Taste of Tradition. Known for its unbeatable taste in sweets and snacks segment, Haldirams Prabhuji is a household name now. It was in year 1937 in Bikaner, when Ganga Bishen started selling Bhujia sev in Bikaner and it became so popular within city that even tourist coming to the city prefer to buy it. Then in 1941, the name 'Haldiram's Bhujiawala' was used for the first time. Then after they expanded business in Kolkata followed by another unit in Nagpur, and in 1983 first retail outlet was opened in Delhi. Haldirams Prabhuji has grown both in domestic and international market. According to different sources today Haldirams Prabhuji is known for matchless quality, packaging, efficient supply chain management, distribution network and zero impurity. Company uses best technology for its all manufacturing units and special attention is given to packaging due to which shelf life of snacks has been increased to six months. The Aggarwals family that owned Haldirams Prabhuji always paid attention to need of customers in order to expand. For this the company offers wide range of variety catering to needs of different age group. Haldirams Prabhuji product range from snacks, sweets, sharbat, dairy product, ice cream,dairy and bakery products. But their highest contribution comes from snacks. Haldirams Prabhuji has well managed distribution network, which has its reach for its products in country as well as other parts of world. Carrying forward agents (CFA) of company collect goods from manufacturing unit who pass them to distributors, who in turn send them to retail outlets. Haldirams Prabhuji has entered into e-retailing also, they have tied up with indiatimes to sell their products. This clearly shows that the company that has its roots in traditional India is innovating with time and this is what a successful company does. Innovation and marketing is a key to success for Haldirams Prabhujis. Few of the examples of innovation strategies adopted by Haldirams Prabhujis is the use of mineral water in the preparation of pani puri and chat papri to attract customers who are very conscious about the hygiene.

Introduction

Page 2

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

The company plans to diversify its existing business. They already invested into hotels and retail real estate business. The company plans to increase its exports which are now 20% of its sales. Haldirams Prabhuji already acquired 10 acres near singur on the Durgapur Expressway where they will set up a large manufacturing facility. The project cost is around 1billion.This project has three phases. First phase-Setting up of a factory to manufacture Indian snacks, which will be 3-4 times bigger than the present one. Second phase-Setting up a factory to manufacture frozen curries, rotis and others ready-to-eat products. Third phase-Setting up a manufacturing unit to produce western confectionery items like cakes, pastries etc. First phase of the project is already completed. The other phases are under constructions. Haldirams Prabhujis has very well understood the intensity of competition in this highly diversified market so they have tied up with Profile Advertising, which designs attractive posters, brochures to facilitate the brand. Visual merchandising of showroom and retail outlet is enhanced by displaying products on special racks. Through these strategies, Haldirams Prabhuji is posing a tough fight to its competitors which include not only Agarwals, Nathus and Bikanerwala, and but also to Pizza chains like Pizza hut, Mc Donalds.

Introduction

Page 3

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

III.OBJECTIVES AND SCOPE: Objectives3.1 Complete study on distribution channel:


Understand the distribution process Find out the problems and expectations of stakeholders of the distribution channel Collect suggestions for company to improve sales

3.2 Competitive analysis: Find out the competitors position based on Product pricing Product availability Product Varity and quality Customers awareness or advertisement

3.3 Study about less selling of some products:


Find out the reasons behind less selling of some products

3.4 Find out consumer behavior towards Hadriams Prabhuji product:


Preference level of Hadriams Prabhuji in the case of sweet products Preference level of Hadriams Prabhuji in the case of snacks products Preference level of Hadriams Prabhujis gift pack Availability level of the Hadriams Prabhuji products in the market Awareness level about less popular products of Hadriams Prabhuji Reaching level of the advertisement to the consumer

Study Scope The project was carried out within Kolkata, Howrah, Hoogly , North24Porganas and South 24 Porgonas region of West Bengal. The period for the project was 2 months, starting from 2nd of May up to 30th of June 2011.

Objectives & Scope

Page 4

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

IV. THEORETICAL PERSPECTIVE:


4.1 Overview of FMCG sector
Products which have a quick turnover, and relatively low cost are known as Fast Moving Consumer Goods (FMCG). FMCG products are those that get replaced within a year. Examples of FMCG generally include a wide range of frequently purchased consumer products such as toiletries, soap, cosmetics, tooth cleaning products, shaving products and detergents, as well as other non-durables such as glassware, bulbs, batteries, paper products, and plastic goods. FMCG may also include pharmaceuticals, consumer electronics, packaged food products, soft drinks, tissue paper, and chocolate bars.

4.2 Indias FMCG sector


Indias FMCG sector is the fourth largest sector in the economy and creates employment for more than three million people in downstream activities. Its principal constituents are Household Care, Personal Care and Food & Beverages. The total FMCG market is in excess of Rs. 85,000 Crores. It is currently growing at double digit growth rate and is expected to maintain a high growth rate. FMCG Industry is characterized by a well established distribution network, low penetration levels, low operating cost, lower per capita consumption and intense competition between the organized and unorganized segments. The Rs 85,000-crore Indian FMCG industry is expected to register a healthy growth in the third quarter of 2008-09 despite the economic downturn.The industry is expected to register a 15% growth in Q3 2008-09 as compared to the corresponding period last year. Unlike other sectors, the FMCG industry did not slow down since Q2 2008. the industry is doing pretty well, bucking the trend. As it is meeting the every-day demands of consumers, it will continue to grow. Single product leaders such as Colgate Palmolive India Ltd and Britannia Industries Ltd have also witnessed strength in their respective categories, aided by innovations and strong distribution.

4.3 SWOT Analysis of FMCG sector in India Strengths:


Low operational costs Established distribution networks in both urban and rural areas Well-known brands in FMCG sector

Weaknesses:
Less scope of investing in technology and achieving economies of scale, especially in small sectors Low exports levels Some "Me-too products, which illegally mimic the labels of the established brands. These products narrow the scope of FMCG products in rural and semi-urban market.

Theoretical perspective

Page 5

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

Opportunities:
Undiscovered rural market Rising income level of the Indian people, i.e. increase in purchasing power of consumers Large domestic market, a population of over one billion. Export potential High consumer goods spending

Threats:
Removal of import restrictions resulting in replacing of domestic brands Slowdown in rural demand Tax and regulatory structure

4.4 FMCG sector Growth Prospect in India Governmental Policy


Indian Government has enacted policies aimed at attaining international competitiveness through lifting of the quantitative restrictions, reducing excise duties, automatic foreign in-vestment and food laws resulting in an environment that fosters growth. 100 % export oriented units can be set up by government approval and use of foreign brand names is now freely permitted.

Central & State Initiatives


Recently Government has announced a cut of 4 per cent in excise duty to fight with the slowdown of the Economy. This announcement has a positive impact on the industry.

Foreign Direct Investment (FDI)


Automatic investment approval (including foreign technology agreements within specified norms), up to 100 per cent foreign equity or 100 per cent for NRI and Overseas Corporate Bodies (OCBs) investment, is allowed for most of the food processing sector except malted food, alcoholic beverages and those reserved for small scale industries (SSI). There is a continuous growth in net FDI Inflow. There is an increase of about 150 per cent in Net Inflow for Vegetable Oils & Vanaspati for the year 2008.

Large Market
India has a population of more than 1.150 Billions which is just behind China.According to the estimates , by 2030 India population will be around 1.450 Billion and will surpass China to become the World largest in terms of population. FMCG Industry which is directly related to the population is expected to maintain a robust growth rate.

Spending Pattern
An increase is spending pattern has been witnessed in Indian FMCG market. There is an upward trend in urban as well as rural market and also an increase in spending in organized retail sector. An increase

Theoretical perspective

Page 6

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

in disposable income, of household mainly because of in-crease in nuclear family where both the husband and wife are earning, has leads to growth rate in FMCG goods.

Changing Profile and Mind Set of Consumer


There is a change in the mind set of the Consumer and now looking at Money for Value rather than Value for Money. We have seen willingness in consumers to move to evolved products/ brands, because of changing lifestyles, rising disposable income etc. Consumers are switching from economy to premium product even we have witnessed a sharp increase in the sales of packaged water and water purifier. Findings according to a recent survey by A. C. Nielsen shows about 71 percent of Indian take notice of packaged goods labels containing nutritional information compared to two years ago which was only 59 per cent.

Growth of Organized Retail


Retailing saw strong growth in India benefiting from strong GDP growth and the emergence of a large consumer base-the urban, young middle class. Supermarkets notably saw strong growth, with sales rising by 108 per cent in 2008 alone. Supermarkets/hypermarkets gained share across packaged food during the review period, thanks to expansion in the number of outlets. This channel more than doubled its share from 5 per cent in 2003 to 11 per cent in 2008. In the year 2008, supermarkets/hypermarkets also accounted for a dominant share in canned/preserved food and frozen processed food, at 68 per cent and 79 per cent respectively. The channels most significant growth was seen in impulse and indulgence products such as sweet and savoury snacks and ice cream and dairy beverages.

4.5 Packaged Food Sector in India


Packaged food products have been slow in penetrating the large potential presented by Indias 300 million strong middle classes. But due to growing urbanization and changing food habits, the demand has been rising at a good pace and there is enough latent market potential

waiting to be exploited through developmental efforts. Rapid lifestyle transformation, particularly in urban areas, has resulted in a dramatic increase in the demand for processed, packaged and ready-to-eat food products. The size of the packaged food market in India is estimated to be US$ 10 million and is expected to reach US$ 20 million by the year 2014. Packaged food, which is now 4 per cent of the overall F&G market, is expected to reach 5 per cent of F&G market by 2014. The main categories of packaged food include baby food, bakery products, canned/ dried processed food, confectionery, dairy products, frozen processed food, ice cream, meal replacement products, noodles, nutrition/staples, pasta, ready meals, sauces, dressings and condiments, snack bars, soup, spreads, sweet and savoury snacks, etc.

Theoretical perspective

Page 7

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

4.6 Packaged food mostly focused on Nutritional and Health Benefits


There has been a growing focus on health conditions, with most consumers having at least a rudimentary awareness of cancer, diabetes and heart disease. The bulk of new product development is expected to focus on nutritionally enhanced and fortified/functional products, with these areas having proved successful. Increasingly, the two concepts will be combined, with low-fat impulse and indulgence products more and more likely to offer fortification. Players meanwhile launched numerous products with a health and wellness positioning. Nestl India, for example, re-launched Maggi Two Minute Noodles fortified with 20 percent of the RDA of calcium and protein in 2008. Gujarat Co-operative Milk Marketing Federation Ltd. Launched Amul Sugar Free Probiotic Frozen Dessert and Amul Prolife Probiotic Wellness Ice Cream in 2007, thus creating a new niche of probiotic ice cream. Players will also seek to become first-movers in the niches of health and wellness packaged foods. Organic products are thus likely to see strong development, generally targeting affluent urban consumers. Naturally healthy products could also see a growing emphasis on their health benefits, with basmati rice, for example, having its low glycaemic index emphasized on the packaging.

4.7 Key Players in the Packaged Food Segment


Player Segment Products

Hindustan Unilever Limited(HUL)

Beverages, Staples, Dairy, Snack Foods

Tea, instant coffee, biscuits, ice creams, salt, wheat flour (atta),instant drinks, soups, jam and squash Instant coffee, condensed milk, dairy whitener, infant food, chocolates and confectioneries Wheat flour (atta), salt, ready-to-eat meals, biscuits, confectioneries, snacks and cooking paste Fruit Juices, cereals, snack foods, dairy derivatives Fruit juice, cooking pastes, coconut milk, tomato puree, lemon drink, chilli powder and honey Chocolates, hard-boiled confectionery, malt foods, cocoa powder Sweets, snacks, syrups, crushes, chips and papads Biscuits, flavored milk, dairy whitener, ghee, bread, cake and rusks Edible oils, vanaspati , bakery fats, fruit drinks, fruit nectar, fruit juices and tomato puree

Nestle India Pvt.Ltd. Dairy, Beverages and Snack Foods ITC Ltd. Pepsico Dabur India Ltd. Cadbury India Ltd Haldirams Britannia Industries Ltd. Godrej Industries Ltd. Parle Agro Private Ltd. Staples and Snack Foods Beverages and Snack Foods Beverages and Culinar Products Confectionery Snack Foods Bakery Products Beverages and Staples Beverages, Bottled Water Snack Foods

Theoretical perspective

Page 8

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

V. METHODOLOGY:
5.1 Sample Design
Regions Central kolkata North Kolkata South Kolkata Howrah-Hoogly Total

Distributor Wholesaler Franchise Retail Shop Consumer

7 3 3 70 25

9 5 3 55 25

7 2 3 65 25

7 3 3 60 25

30 12 12 250 100

5.2 Research technique


Exploratory and followed by Conclusive which is descriptive in nature

5.2 Research method


The Questionnaire was designed by using both closed ended and open ended questions.

5.3 Type of Sample


Disproportionate Strata wise random sampling and convenient sampling

5.5 Data analysis


SPSS and Excel package

Methodology

Page 9

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

VI. PROCEDURE OF WORK:


The total project was carried out and completed in a pre-planned manner. The planning was basically done on the time schedule of the project, target area to cover for the project and the route map. The following steps will reveal the procedure of work of the project: Study the Packaged food market under FMCG market as a whole Research on the company Collect required data from the company Design whole research Make questionnaires as a tool of research Area scanning Schedule the plan date wise Visit key contacts according to the above plan While visiting the stakeholders and consumers o Give introduction about my work o Listen to opinions o Enquiry about problems and requirements o Notify urgent requirements o Fill up the questionnaires Track down the prospects Report to head office of Haldiram Bhujiawala Limited in Kolkata regularly Initiation of research, analyze and findings for documentation Market study, justifications and recommendations Execution of the project detail to the head office of Haldiram Bhujiawala Limited in Kolkata

Understand the distribution process Find out the problems and expectations of stakeholders of the distribution channel Collect suggestions for company to improve sales

Procedure of work

Page 10

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

VII.ANALYSIS OF DATA:
7.1 Analysis of data about complete study on distribution channel Distribution process -The distribution channel planning is good.There are different types of
distribution channel. They are: 0-level Company 1-level Company 2-level Company 3-level Company Distributor Wholesaler Retailer Consumer Distributor Retailer Consumer Franchisee Consumer Consumer

Problems and expectations of stakeholders of the distribution channel1. In this market research we have found 55% distributors are very satisfied and30% distributors are somewhat satisfied as a distributor of Haldiram Bhujiawala Limited. Figure 1: Satisfaction level of distributors

2. According to our market research 45% distributors are getting not so much damage products and 30%

distributors are getting many time damage products from the company. 3.Company in current scenario not giving damage product replacement.90% distributors think that sales can be increase through damage product replacement scheme.Then the distributors can push products to the retailers. 4. Sales persons of the company are working properly according to the distributors. 5.New initiative of the company is recruitment of ISRs(Internal Sales Representative).ISRs are working in the ground level of the market.They are helping distributors from the company side.It is a new initiative ,so maximum distributors are not giving any feedback about them.Distributors are expecting ISRs will find out new retails to sell products. 6. Distributors are visit retail shop as per the need of retailers. Distributors collect maximum orders through phone. Analysis of data Page 11

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

7. According to our market research 35% distributors have distributorship of other companies. 8. In the case of satisfaction 34% retailers are somewhat satisfied and 27% retailers are very satisfied about the company. Figure 2: Satisfaction level of retailers

9. According to our market research 44% retailers are many time and 33% retailers are sometime getting damage products from the distributors and sometimes after some days products turned into damage. 10. According to the maximum retailers advertisements of the company create an impact to the consumer. 11.70% franchisee owners are not happy about the company.Because products of the company are available in market easily in general retails. So consumers are not attracted by the franchisee. 12. Franchisee owners are satisfied by the company sales persons. 13. Wholesalers are not satisfied due to not availability of products in the market in occasion time.

Suggestions for company to improve sales


1. Stakeholders of distribution channel want damage product replacement scheme.They can work more freely without fear. 2. Availability of all kinds of products from the company in all the time. 3. Maintaining a reasonable price of the products for economically middle class people.

7.2 Analysis of data about Competitive analysis:


Haldirams Prabhuji is the market leader in the branded snacks segment in the Kolkata area.In the snacks segment the others branded competitors of Haldirams Prabhuji are MPS,Swissyum,Parle Agro,Kitkat,Colis. Swissyum is the closest competitor of Haldirams Prabhuji.In the case of product pricing and product

varity(local market target) swissyum is better than Haldirams Prabhuji in current scenario. Figure 3: Comparative discussion with the biggest competitor swissyum

Analysis of data

Page 12

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

In the sweet segment local sweet shops are the main competitors.In the case of packaged branded sweets Haldirams Prabhuji is the market leader.

7.3 Analysis of data about less selling of some products:


In the different parts of Kolkata different products are recognized as less selling.But I found out some products which are overall lees selling.See Appendix table number 1.

7.4 Analysis of data about consumer preference level of Haldirams Prabhuji:


In this market research we have found that 41% consumers very like and 29% consumers somewhat

like Haldirams Prabhuji products.


Figure 4: Liking level of consumers about Haldirams Prabhuji product

In the case of sweet products consumers equally preferred sweets of traditional shops and Haldirams

Prabhuji.Secondly products of Ganguram are preferred by consumers. In the case of snacks products 63% consumers preferred Haldirams Prabhuji product.18% consumers

have no such preference of any brand. Haldirams Prabhuji gift pack is not so popular in market.40% Consumers preferred chocolate as a

gift item. In our market research 86% consumers are telling that they are getting products in market as per their

requirements. But 14% consumers are not getting products as per requirements. According to 70% consumers aware about advertisements of Haldirams Prabhuji. Most popular products of Haldirams Prabhuji are different kinds of sweets, mixtures and bhujia.

80% consumers only know about this kind of products.They are dont know about the other kinds of Haldirams Prabhuji products.

Analysis of data

Page 13

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

VIII. FINDINGS&INFERENCES:
8.1 Findings from objective I: Complete study on distribution channel
More number of distributors are over all very satisfied about the company. Distributors are not getting too much damage products from the company. In the occasion time the products are out of stock due to improper demand estimation. Area for distributors is not strictly specified by the company which is problematic for distributors. Distributors wanting annual meeting with administration where they can explain their problems directly to the administration. Franchisee owners are not happy because of same products are available in market, so consumers are not giving extra attention towards the company authorized franchisee. Limited (within expiry date) damage product replacement scheme can increase sales of products and can increase sales varity of products. Then distributors can push products to the retailers Local market targeted product may increase sales volume of the company.

8.2 Findings from objective II: Competitive analysis Porters Competitive Forces Model:

Traditional competitors

Main primary competitors of Haldirams Prabhuji are local brands of sweets and snacks. This kind of brands occupied the huge market share due to low price.Other branded competitors are MPS and Parle Agro , Laher Namkeen.

Findings & Inferences

Page 14

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

Threat of new entrants In Kolkata within a year a new company named swissyum hugely occupied market share of snacks market.Their strong points are product varity and attractive packaging .Products of swissyum are available in market in low

price than Haldirams Prabhuji.


Threat of substitutes Main substitutes of Haldirams Prabhuji products are Lays and Kurkure.Differnet types of biscuits from different companys like Britania,Palre Agro are also strong substitutes of Haldirams Prabhuji.Cakes Bargaining power of buyers Products are ready to sell in a market in a fixed MRP.So there is no bargaining power of buyers. Bargaining power of suppliers Haldiram Bhujiawala Limited is a highly reputed company in the market.As a consumer this is a huge size. Main required raw materials of this company are sugar, Ghee, Gram Flour, Edible Oil, Cashew etc. .The number of suppliers of this kind products are high.So there have not so much bargaining power of suppliers.

8.3 Findings from objective III: Study about less selling of some products
The reasons behind less selling of some products are different in different products. Table 1: Reasons behind the less selling products Name of the Products 1.Badam Dalmoth 2.Masala Nimki 3.Mini Samosa 4.All types of Pickle 5.Soan Papdi Orange Bad smell High price High price and less quantity No damage replacement Taste Reasons

From consumers feedback we get that consumers are also dont know about the less selling products. If company remove the particular problems of the products then the products will do well in the market

8.4 Findings from objective IV: Find out consumer behavior towards Hadriams Prabhuji product
Maximum consumers preferred Haldirams Prabhuji product very much. Consumers too much preferred snacks products of Haldirams Prabhuji.But in the case of sweets they are not much preferred Haldirams Prabhuji. Consumers are not aware about less popular products.

Findings & Inferences

Page 15

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

IX. RECOMMENDATIONS:
9.1 Schemes for retailers
Haldiram Bhujiawala Limited is giving huge profit margin for the retailers.Company can decrease that profit margin and instead of that company can give schemes for retailers on target basis.Then the sales will definitely increase.Other competitor brands like Lays,Kurkure are giving schemes for retailers.

9.2 Proper demand estimation


Distributors are not getting products in the time of festivals as per their requirements. It is a demand forecasting problem of this company. This is decreasing the sales volume of the company as per the demand. Through the sales department company can collect estimated demand from the distributors and franchises before any festivals.

9.3 Launching children targeted product


Hadrians Prabhuji is a reputed and trusted brand in the market. Company can launch new type of children targeted product like Kurume or Bingo. As per the market feedback this kind of product from Hadrians Prabhuji can get success in market.

9.4 Damage replacement scheme for less selling products


Retailers are not agree to take less selling products for the damage problem.They are taking only popular products of Haldirams Prabhuji.As we know retailers can push product to the consumer.If retailers are not agree to take less popular products then it is very problematic to increase sales of this kind of products. Because consumers are not aware about this products. Damage replacement scheme can erase this problem.

9.5 Strict area specification for Distributors


Company can take strict position for area specification. Strict area specification can increase work efficiency of the distributors. Then distributors will give more concentration in their own area and they will try to find out more new retails shops. It will be beneficial for the company in long term.

9.6 Re-launch of Potato chips


Few years back Haldirams Prabhuji launched a chips product. But company stopped production of this product for few problems. There is a existing demand of this product. Company can re-launch this product in market. This product will definitely successful in market. Potato chips and potato based items are the most popular with more than 85% market share in snacks market.

9.7 Giving target to the ISRs to find out new counters


Company can give monthly target to the ISRs to find new counters. They will find new counter and give the names to the distributors. Target basis work of ISRs will increase the sales.

9.8 Unique products for franchisee


Company can produce some unique products which will be only available in the company authorized franchisee. Then consumers will attract towards the franchisees.

Recommendations

Page 16

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

X. LIMITATIONS:
Despite all the findings and recommendations, this study suffers from certain limitations like all the data, findings, analysis and recommendations in this study are subject to the knowledge, experience and cooperation of the respondents. It was assumed at the time of undertaking the project that the respondent group chosen is the best that was available and the responses given by each one of them is genuine enough to draw meaningful conclusions. If the respondents responded to the questionnaire without any interest and attention, or if the respondents do not have adequate knowledge about the market, then the entire exercise would be a waste of time, energy and money. Also, many of the conclusions and recommendations from this project would have no meaning and hence, would not be worth acting upon.

Limitations

Page 17

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

XI. CONCLUSIONS:
FMCG sector is the most growing sector in India. I have done a SWOT analysis of FMCG sector of India which shows every important point of this sector. In the other hand entries of multinationals, aggressive rise of commodity branding and low cost technology are changing the economics of the Indian food industry. Haldirams Prabhuji is a unforgettable name in the food industry .There is some problems in the distribution channel which I have mentioned in this report. If company considers my recommendations then there can be a possibility to improve the distribution channel. Less selling products have to push in the market from the company side with different kinds of schemes for the stakeholders of distribution channel. More advertisements and giving some facilities to the retailers can be increase the sales figure. In Kolkata area Haldirams Prabhuji is the market leader. Near competitor is Swissyum. Its product varity is the main plus point of this company.As per the consumers Haldirams Prabhuji is the first preference of maximum consumers.If this company maintain their growth rate then in whole India it will take a major place.

Page 18

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

XII. REFERENCES:
Giiliz, G(2000) Advances in Consumer Research Volume 27. Fabian Faurholt Csaba. Biikent

University Primary data collected: Questionnaires Filled by respondents Documents available from the company www.haldiramlimited.com Experience sharing with the employees of the company Various articles and magazines available for free reading.

Page 19

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

XIII. Annexure
Figure 5: Haldiram's Prabhuji product range

Snacks Aloo Bhujia Bhujia Chat patta Moong Dal Khasta All in one

Sweets Ghee Laddu Kesar Laddu Kaju Barfi

Papad Bikaneri Papad Masala Papad

Pickle Mango Pickle Mixed Pickle

Syrup Royal Kesari Thandai Royal Rose

Stuffed Red Chilli Pickle Royal Badam Green Chilli Pickle Lemon Pickle Sweet Mango Lachha Royal Orange

Elachi Soan Papdi Kesar Soan Papdi Ghee Soan Papdi

Khatta Mitha Rossogolla Navaratna Gulab Jamun

Supreme Mix Angoori Petha Tok Jhal Misti Rajbhog Makai Mixture Lachha Raita Boondi Kumhra Petha Mini Samosa Murukku

Nimki Chana Chips Kaju Dalmoth Badam Dalmoth Badam Lachha

Page 20

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

Figure 6: Frequency of getting damage product according to distributors

Figure 7: Sales increase due to damage product replacement according to distributors

Figure 8: Satisfaction about company's sales persons according to distributors Figure 9: Getting information about schemes according to distributors Figure 12: Distributorship of other companies of distributors

Figure 10: Satisfaction about company's ISRs according to distributors Figure 13: Frequency of getting damage product according to retailers

Figure 11: Distributor's visit in retail in a week

Page 21

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED Figure 18:Awareness about products of Haldirams

Figure 14: Satisfaction about company's sales persons according to retailers

Bhujiawala other than Bhujia,Mixture and sweet according to

consumers

Figure 15: Sales increase due to advertisement according to retailers

Figure 19: Prefernce level of Bhujia and Mixture products according to consumers

Figure 16: Availability of products in market according to consumers

Figure 20: Prefernce level of sweet products according to consumers

Figure 17:Preference of gift item according to consumers

Page 22

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED Figure 21: Liking level of consumers about Haldirams Prabhuji product Figure 24:Satisfaction about companys sales persons

Figure 22:Getting damage product frequency according to Franchisee owners

Figure 25: Sales increase due to damage product replacement scheme according to Wholesalers

Figure 26: Frequency of getting damage products according to Wholesalers

Figure 23: Satisfaction according to Franchisee owners

Page 23

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

Questionnaires:
Questionnaire for Distributors 1. a. Name. b. Contact No. .. c. Address.. d. Area coverage e. Amount of sales(Rs.). f. From which year you are working as a distributor of Haldiram Bhujiawala Limited? ................... 2. How much you are satisfied as a distributor of Haldiram Bhujiawala Limited? a)Extremely b)Very C)Somewhat d.Little e.Not at all 3.Do you get physically damaged product any time? a) Every time b) Many time c) Sometime d) Not so much e) Not at all 4.How do you sort out the problem of receiving physically damaged product?........................................................ 5. If company gives you damage product replacement scheme then sales will increase. a. Yes b. No 6. Do you satisfied about the companys sales person? a. Yes b. No c.Neutral 6. a)If not yes then specify the reasons 6.a)Do you getting information regularly about companys different kinds of schemes? a. Yes b. No c. Neutral 7. Are you satisfied about the companys ISE? a. Yes b. No c.Neutral 7. a)If not yes then specify the reasons 7. b) What is your expected work from an ISE?............................................................................................................ 8. What are the difficulties/problems you face while working with the company? ........................................... 9.What are your suggestions to resolve the problems?...................................................................................... 10. What kind of problems do you face with your retailers?.................................................................................

Page 24

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

11. What company can do to resolve this problem?............................................................................................ 12. By which process you are sending products to the Retailers?............................................................................ 13. How do you collect order from the retailers? a. Telephonic b. Own sales person c. Company sales person d. If others then specify.. 14. How many times do you take order from retailers in a week? a. 2 b. 3 c. 4 d.As per retailers need 15. Who are the competitors of Haldiram Bhujiawala Limited in your local market? ................................................... 16.Rate their performance along with Haldiram Bhujiawala limited as per the following parameters.(E=excellent,G=good,F=fair,P=poor)
Competitor Name Product pricing Product availability Product Varity and quality Customers awareness or advertisement

HBL

17.Mention some of the strategies of the competitors that you feel are better than Haldiram Bhujiawala Limited? .................................. 18.Name some of the products of Haldiram Bhujiawala Limited that are not doing well in the market? ........................................................................... 19. What are the problems according to you on the particular products? a. Product 1b. Product 2c. Product320. Give your suggestions on how company can increase the sales volume?............................................................. 21. What do you more expect from the company? ................................................................................................... 22. Do you have any distributorship of others company? a. Yes b. No

Page 25

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

22. a)If yes then specify.. 23.How many workers working under you?..........................
Questionnaire for Retailers 1. a. Name b. Contact No. . b. Address.. 2. From how many years you are selling Haldirams Prabhuji product? ................... 3. Are you overall satisfied as a retailer of Haldiram Bhujiawala Limited? a)Extremely b)Very C)Somewhat d.Little e.Not at all

4.If you are not satisfied then according to you what is the problem?....................................................................... 5. Do you get your product from the distributor on time as per your requirement?(give marks out of 5).. 6. How often you get physically damaged product any time?

a) Every time all

b) Many time

c) Sometime

d) Not so much

e) Not at

7. What are the other difficulties/problems you face while working with the distributer?............................... ............................... 8. What are your suggestions to resolve the problems? 9) Who are the competitors of Haldiram Bhujiawala Limited in your local market? ...................................................
9. a)Rate their performance along with Haldiram Bhujiawala limited as per the following parameters. (E=excellent=good=fair, P=poor)
Competitor Name Product pricing Product availability Product Varity and quality Customers awareness or advertisement

HBL

10. Mention some of the strategies of the competitors that you feel are better than Haldiram Bhujiawala Limited? ................................... 11. Name some of the products of Haldiram Bhujiawala Limited that are not doing well in the market? ..........................................................................
12. 16.What are the problems according to you on the particular products? a. Product 1b. Product 2c. Product 3-

Page 26

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

13. 7.Do you satisfied about the companys ISE? a. Yes b. No c.Neutral

13. a)If not yes then specify the reasons. 14. Do you satisfied about the companys sales person? a. Yes b. No c.Neutral

14. a)If not yes then specify the reasons. 15) In a month how many time companys sales person visit your shop? a. 2 b. 3 c. 4 d.Not regularly

16) Have you seen any kind of advertisement benefit in sales? a. Yes b. No

17. Give your suggestions on how company can increase the sales volume? ................................................................ ................................................................................................................................................................. 18. What is your more expectation from the company? ........................................................................................ Questionnaire for Franchisee

1. a. Name. b. Contact No. .. c. Address.. d. From which year you are working as a Franchisee of Haldiram Bhujiawala Limited? ................... 2. How much you are satisfied as a Franchisee of Haldiram Bhujiawala Limited? a)Extremely b)Very C)Somewhat d.Little e.Not at all

3.Do you get physically damaged product any time? a) Every time b) Many time c) Sometime d) Not so much e) Not at all

4. Do you satisfied about the companys sales person? a. Yes b. No c.Neutral

4. a)If not then specify the reasons 5. What are the difficulties/problems you face while working with the company? ........................................... .................... 6. What are your suggestions to resolve the problems? ...................................................................................... 7. Who are the competitors of Haldiram Bhujiawala Limited in your local market?
8. a)Rate their performance along with Haldiram Bhujiawala limited as per the following parameters. (E=excellent=good=fair, P=poor)
Competitor Name Product pricing Product availability Product Varity and quality Customers awareness or advertisement

HBL

Page 27

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

9.Mention some of the strategies of the competitors that you feel are better than Haldiram Bhujiawala Limited? .................................. ..

10. Name some of the products of Haldiram Bhujiawala Limited that are not doing well in the market? ...........................................................................
11. What are the problems according to you on the particular products? a. Product 1b. Product 2c. Product312. Give your suggestions on how company can increase the sales volume? .............................................................
STUDY ON CONSUMER BEHAVIOUR TOWARDS HALDIRAMS PRABHUJI PRODUCT Q1) What is your age (in years)?

a)Less than 18
a) Male

b)18-25

C)25-35
b)Female

d.35-50

e.More than 50

Q2) Gender: [Pl. put tick mark in appropriate box]

Q3) What is your family income annually (Rs. In thousands)? a)Less than 10 b)10-20 C)20-30 d.More than 30 Q4) How much you like a Haldirams Prabhuji product? a)Extremely b)Very C)Somewhat d.Little e.Not at all

Q5) How much you [or your family spend monthly for fast food(without main food)? Rs . Q6) Till now have you or your family members purchased any Haldirams Prabhuji product? a. Yes b. No

Q7) If yes then how many(amount) are you purchasing in a month? Rs.......................... Q8) which sweet product you would like to prefer? a) Traditional stores sweet c) K.C.Das d) Others b) Haldirams Prabhuji Sweet d)Ganguram

Q8.a)If others then specify Q9) Which Bhujia and mixture product you would like to prefer? a) Local bhujia and mixture brand c) No such preference on any particular category e) Others Q9)a) If others then specify Q10) Without Bhujia, Mixture and sweet do you aware about any other type of Haldirams Prabhuji product? a. Yes b. No b) Haldirams Prabhuji d) Laher namkeen

Q10) a) If yes then specify. Q11) In general which product would you like to gift?

Page 28

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED a. Haldirams Prabhuji gift pack c. Chocolate e.Others Q11)a)If others then specify. Q12) Do you get Haldirams Prabhuji product available in market as per your requirements? a. Yes b. No b. Traditional stores sweet d. No such preference on any particular category

Q13) Do you get any time any type of damaged product of Haldirams Prabhuji? a. Yes b. No

Q13) a)If yes then specify.. Q14) Have you seen any kind of advertisement of Haldirams Prabhuji? a. Yes Q14.a) If yes then where? a. News paper c. T.V. e. Others Q15) Have you any idea about any new product? a. Yes Q16) a) If yes then please specify b. No b. Poster d. Hording b. No

Questionnaire for wholesalers

1. a.Name. b. Contact No. .. c. Address.. 2. Do you get physically damaged product any time? a) Every time b) Many time c) Sometime d) Not so much e) Not at all

3 . If company gives you damage product replacement scheme then sales will increase. a. Yes b. No

4. What are the difficulties/problems you face while working with the distributors? .................... 5. What are your suggestions to resolve the problems?...................................................................................... 6. Who are the competitors of Haldiram Bhujiawala Limited in your local market? 7. a)Rate their performance along with Haldiram Bhujiawala limited as per the following parameters. (E=excellent=good=fair, P=poor) Competitor Name Product pricing HBL Product availability Product Varity and quality Customers awareness or advertisement

Page 29

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

8. Mention some of the strategies of the competitors that you feel are better than Haldiram Bhujiawala Limited? .................................. 9. Name some of the products of Haldiram Bhujiawala Limited that are not doing well in the market? ........................................................................... 10. What are the problems according to you on the particular products? a. Product 1b. Product 2c. Product311. Give your suggestions on how company can increase the sales volume? .............................................................

Page 30

A COMPLETE STUDY ON DISTRIBUTION PIPELINE AND CONSUMER BEHAVIOR WITH COMPETITIVE ANALYSIS OF HALDIRAM BHUJIAWALA LIMITED

HOUSE OF QUALITY:

[Source-Operations & Supply Management,Chase-Shankar-Jacobs-Aquilano,12th edition,page no.-121]

Page 31

Das könnte Ihnen auch gefallen