STUDY CONSUMER BEHAVIOR & TRADE RESPONSE FOR VERKA PIO MILK

SUBMITTED BY: Roll No. BBA 6th Semester

DAIRY INDUSTRY IN INDIA

In India, dairying has been practiced as a rural cottage industry since the remote past. Semicommercial dairying started with the establishment of military dairy farms and cooperative milk unions throughout the country towards the end of the nineteenth century.

MILKFED-PUNJAB
The Punjab State Cooperative Milk Producers' Federation Limited popularly known as MILKFED Punjab, came into existence in 1973 with a twin objective of providing remunerative milk market to the Milk Producers in the State by value addition and marketing of produce on one hand and to provide technical inputs to the milk producers for enhancement of milk production on the other hand.

Objectives of MILKFED
To carry out activities for promoting production, procurement processing and marketing of milk and milk products for economic development of the farming community; To develop and expand such other allied activities as may be conducive for the promotion of the dairy industry, improvement and protection of milch animals and economic betterment of those engaged in milk production; To purchase and/or erect buildings, plants, machinery and other ancillary equipment to carry out business; To study problems of mutual interest related to production, procurement and marketing of dairy and allied products;

COMPANY PROFILE
MILK PLANT, MOHALI was set up by THE PUNJAB STATE CO-OPERATIVE MILK PRODUCERS FEDERATION Ltd. popularly known as MILKFED, which was financed by PUNJAB GOVERNMENT & NATIONAL DAIRY DEVELPOMENT BOARD (NDDB). It was formed with a view to integrate the production of milk & its procurement, processing & marketing in Punjab on ANAND PATTERN. The ANAND PATTERN is a world famous 4-tier system of dairy development in India.

RESEARCH OBJECTIVES

To estimate the market potential and perception towards Verka Pio Milk. To find out the frequency of consumption of Verka Pio Milk. To know the awareness level among the retailers for the Verka Pio Milk. To do market analysis in order to study the usage pattern and buying behavior of Verka Pio Milk. To know the awareness level of the consumers for the Verka Pio Milk. To find out the causes of not buying the Verka Pio Milk.

DATA ANALYSIS & INTERPRETATION OF TRADE RESPONSE

Do you keep Verka products?

Less than Verka Pio Milk Same as Verka Pio Milk More than Verka Pio Milk 38.46% 15.38% 46.15%

More than Verka Pio Milk 47%

Less than Verka Pio Milk 38%

Same as Verka Pio Milk 15%

Less than Verka Pio Milk More than Verka Pio Milk

Same as Verka Pio Milk

Out of 150 retailers, 94% (141) retailers keep Verkas products and only 6% (9) retailers do not keep Verkas products

Do you know about Verka Pio Milk?

Yes No 52.89% 47.11%

No 47%

Yes 53%

Yes

No

Out of 150 retailers, 80.67% (121) retailers know about Verka Pio Milk and 19.33% (29) retailers do not know about the product. So the G.C.M.M.F. needs to go for aggressive marketing strategies to get attention in the market.

How do you come to know about Verka Pio Milk?

By distributors By customers By other shopkeepers Others 57.85% 13.22% 14.88% 14.05%

By other shopkeepers 15%

Others 14%

By customers 13%

By distributors 58%

By distributors

By customers

By other shopkeepers

Others

From the entire sample retailers, majority 57.85% (70) retailers were come to know about the product by distributors, so other modes of communication needs to be exercised properly for creating more awareness among retailers.

Do you keep Verka Pio Milk?

No 47%

Yes

52.89%

Yes 53%

No

47.11%
Yes No

As it can be seen in the graph that majority of the retailers do not keep Verka Pio Milk. Only 47.11% (57) retailers keep Verka Pio Milk. So the G.C.M.M.F. needs to advertise its product

Which kind of flavor is the most popular in your shop?

Elaichi 45.88%
Pista 21% Elaichi 46%

Strawberry

15.05%

Butter Scotch 18%

Butter Scotch

18.07%

Strawberry 15%

Elaichi

Strawberry

Butter Scotch

Pista

Pista

21%

Out of 4 flavors of the product, Kesar is the most popular 50.88% and Elaichi is the 2nd most popular flavor in the Bathinda city. So the G.C.M.M.F. needs to advertisement for the flavor of Rose and Mango.

How many bottles do you sell in a month?

More than 10 19%

1 to 5

66.67%

6 to 10

14.03%

6 to 10 14%

1 to 5 67%

More than 10

19.30%

1 to 5

6 to 10

More than 10

57 retailers keep Verka Pio Milk, out of them 66.67% (38) retailers can sale the bottles 1 to 5 in a day. 6 to 10 bottles can be sold by 11 retailers in a day.

Did you keep Verka Pio Milk?

Yes 33%

Yes

33.06%

No 67%

No

66.94%

Yes

No

Out of 121 retailers, 66.94% (81) retailers were keeping and 33.06% (40) retailers were not keeping Verka Pio Milk. So the G.C.M.M.F. needs to advertise its product.

Why do you not keep Verka Pio Milk?

As distributors still not approach you. 3.13%
You do not get regular supply/service. 29% Other reasons. 6% As distributors still not approach you. 3%

Customers do not buy this product.

54.69%

You feel that this product will not sale.

6.25%
You feel that this product will not sale. 6% Customers do not buy this product. 56%

You do not get regular supply/service.

29.36%

Other reasons.

6.25%

As distributors still not approach you. You feel that this product w ill not sale. Other reasons.

Customers do not buy this product. You do not get regular supply/service.

Out of 64 retailers, 54.69% (35) retailers do not keep the product due to customer do not purchase this product. So the G.C.M.M.F. needs to advertise its product.

Retailers view about why consumers do not buy Verka Pio 29.97% Milk? Unawareness about product.
Does not like taste. Higher Price. Other reasons. 6.61% 17.36% 52.07%

Other reasons. 50%

Unawaren ess about product. 28%

Higher Price. 16%

Does not like taste. 6%

Unaw areness about product. Higher Price.

Does not like taste. Other reasons.

As per the retailers view, 52.07% (63) retailers say that due to higher price, customers do not buy this product. Where as 23.97% (29) retailers say that they are not aware about the product. So there is need of advertisement.

How much stock do you keep approximately?

1 to 5 6 to 10 More than 10
STOCK OF THE GOODS

8.77% 7.02% 84.21%

1 to 5 9%

6 to 10 7%

More than 10 84%

1 to 5

6 to 10

More than 10

Out of 57 retailers, 84.21% (48) retailers keep more than 10 bottles in the stock. Where as 8.77% (5) retailers keep 1 to 5 bottles in the stock.

Do you think that the packaging of Verka Pio Milk is attractive?

Yes No 71.90% 28.10%

No 28%

Yes 72%

Yes

No

Out of 121 retailers, 71.90% (87) retailers say that the packaging of the product is attractive. So the packaging of the Verka Pio Milk is attractive.

Do you think that logo of Verka is required to increase the sale of Verka Pio Milk?
Yes No 30.58% 69.42%

Yes 31%

No 69%

Yes

No

Out of 121 retailers, majority of the retailers 69.42% (84) retailers say yes and 30.58% (37) retailers say no. So the logo of Verka is required to increase the sale of the product.

What are your ideas about to increase the sale of Verka Pio Milk?
Price should be decreased Change in the taste. Improvement in the promotion system. Other ideas. 68.60% 9.09% 3.30% 19.01%

Improvement in the promotion system. 3%

Other ideas. 19%

Change in the taste. 9%

Price should be decreased 69%

Price should be decreased Improvement in the promotion system.

Change in the taste. Other ideas.

Majority of the retailers 68.60% (83) retailers say that the price should be decreased and 19.01% (23) retailers are in favor of improvement in the promotion strategy.

Why do people buy Verka Pio Milk?

Better quality. Good taste. Hobby Other reasons 56.20% 18.18% 2.48% 23.14%

Other reasons 23% Hobby 2%

Better quality. 57%

Good taste. 18%

Better quality.

Good taste.

Hobby

Other reasons

56.20% (68) retailers believe that the consumers buy this product because of better quality. 23.14% (28) retailers say about good taste. So the quality of the product is good.

Do you get sufficient stock of the product?

Yes No 7.02% 92.98%

Yes 7%

No 93%

Yes

No

Majority of the retailers 92.98% (53) retailers are getting sufficient stock of the product. So the production management of the G.C.M.M.F. is good.

Which other brands do you keep?

Verka Pio Milk Verka Dahi Verka Butter Verka Lassi 43.32% 29.36% 9.17% 18.35%

Verka Butter 9%

Verka Lassi 18%

Verka Pio Milk 44%

Verka Dahi 29%

Verka Pio Milk

Verka Dahi

Verka Butter

Verka Lassi

Out of 109 retailers, 43.12% (47) retailers keep Verka Kool while 29.36% (32) retailers keep Verka Kool Thandai while 18.35% (20) retailers are keeping Verka Pio Milk.

Which is the most popular brand at your shop?

Verka Pio Elaichi Verka Pio Strawberry Verka Pio Butter Scotch Verka Pio Pista 6.94% 40.28% 41.67% 11.11%

Verka Pio Pista 11%

Verka Pio Elaichi 7%

Verka Pio Butter Scotch 42%

Verka Pio Strawberry 40%

Verka Pio Elaichi Verka Pio Butter Scotch

Verka Pio Strawberry Verka Pio Pista

Out of 72 retailers, 41.67% (30) retailers say about Verka Pio Milk. While the Verka Kool is the 2nd most popular brand.

How much profit do you get on other products?

Less than Verka Pio Milk Same as Verka Pio Milk More than Verka Pio Milk 38.46% 15.38% 46.15%

More than Verka Pio Milk 47%

Less than Verka Pio Milk 38%

Same as Verka Pio Milk 15%

Less than Verka Pio Milk More than Verka Pio Milk

Same as Verka Pio Milk

Out of 39 retailers, 46.15% (18) retailers are getting profit more than Verka Pio Milk while 15.38% (6) retailers are getting same as Verka Pio Milk.

DATA ANALYSIS & INTERPRETATION OF CONSUMER BEHAVIOR

Do you know about Flavor Milk?

Yes No 26% 74%

Yes 26%

No 74%

Yes

No

Out of 100 consumers, 74% (74) people know about Flavor Milk and 26% (26) people do not know about Flavor Milk. So the G.C.M.M.F. should advertise for product to increase the level of the awareness and sales of the product.

Do you know about Verka Pio Milk?

Yes No 74% 26%

No 26%

Yes 74%

Yes

No

Out of 100 consumers, 74% people know about Verka Pio Milk and 26% people dont know about Verka Pio Milk. So the G.C.M.M.F. should advertise to increase the level of awareness and sales of the product.

How did you come to know about Verka Pio Milk?

By friends Others By shopkeepers By advertisements By relatives 13.51% 9.46% 38.57% 8.11% 34.29%

By relatives 33%

By friends 13% Others 9%

By advertisement s 8%

By shopkeepers 37%

By friends

Others

By shopkeepers

By advertisements

By relatives

Out of 74 consumers, 38.57% (27) consumers have come to know about the product by shopkeepers and 34.29% (24) people have come to know by advertisement.

By which media of advertisement you knew about Verka Pio Milk?

Newspapers Television Magazine Others 20.83% 45.83% 25.00% 8.33%

Magazine 25%

Others 8%

Newspapers 21%

Television 46%

New spapers

Television

Magazine

Others

Out of 24 people who have come to know about this product, from them 45.83% (11) consumers have known by television and 8.33% (2) consumers have known by magazine.

Do you buy Verka Pio Milk?

Yes No 22.97% 77.03%

Yes 23%

No 77%

Yes

No

Out of 74 consumers, 77.03% (57) consumers buy this product and 22.97% (17) consumers do not buy this product.

Why do you buy Verka Pio Milk?

Good quality Good taste Other reasons Branded company Cheaper than other product 36.84% 47.37% 1.75% 0.00% 14.04%

Other reasons 2% Branded company 0%

Cheaper than other product 14%

Good quality 37%

Good taste 47%

Good quality Other reasons Cheaper than other product Good taste Branded company

Out of 57 consumers, 36.84% (21) consumers buy because of good quality, 47.37% (27) consumers buy because of good taste and 14.04% (8) consumers purchase because of branded company.

Which flavor do you like most in the Verka Pio Milk?

Elaichi Strawberry Pista Butter Scotch
Flavor like most in the Verka Pio Milk

19.30% 8.77% 36.84% 35.09%

Butter Scotch 35%

Elaichi 19%

Strawberry 9%

Pista 37%

Elaichi

Straw berry

Pista

Butter Scotch

Out of 57 consumers, 19.30% consumers like Elaichi,8.77% consumers like Strawberry, 36.84% consumers like Pista and 35.09% consumers like Butter scotch So Pista is the most popular flavor.

Why do you not buy Verka Pio Milk?

Unawareness Dont like taste Other reasons Higher price 60.47% 2.32% 25.58% 11.63%

Other reasons 26%

Higher price 12%

Dont like taste 2%

Unawarenes s 60%

Unaw areness

Dont like taste

Other reasons

Higher price

Out of 43 consumers, 60.47% (26) consumers do not buy because of unawareness, 25.58% (11) consumers do not buy because of other reasons and 11.63% (5) consumers do not buy because of higher price.

Did you buy Verka Pio Milk?

Unawareness about product. Does not like taste. Higher Price. Other reasons. 26.07% 4.00% 17.36% 52.00%

Other reasons. 53%

Unawarene ss about product. 26%

Higher Price. 17%

Does not like taste. 4%

Unaw areness about product. Higher Price.

Does not like taste. Other reasons.

Out of 74 consumers, 72.97% (54) consumers are loyal consumers of this product. And the 27.03% (20) consumers were not buying this product in the past.

Which other brands do you buy?

Verka Pio Elaichi Verka Pio Strawberry Verka Pio Butter Scotch 50 35 15

Verka Pio Butter Scotch 15%

Verka Pio Elaichi 50%

Verka Pio Strawberry 35%

Verka Pio Elaichi Verka Pio Butter Scotch

Verka Pio Strawberry

Out of 57 consumers, 38.60% (22) consumers buy Verka Pio Elaichi, 26.32% (15) people buy Verka Pio Strawberry and 19.30% (11) people do not buy any product except Verka Pio Butter Scotch

Which brand do you like most?

Verka Pio Elaichi Verka Pio Strawberry Verka Pio Pista Verka Pio Butter Sc 45.45% 30.30% 3.03% 21.22%

Verka Pio Pis ta 3%

Verka Pio Butter Sc 21%

Verka Pio Elaichi 46%

Verka Pio Strawberry 30%

Verka Pio Elaichi Verka Pio Pista

Verka Pio Straw berry Verka Pio Butter Sc

Out of 66 consumers, 45.45% (30) consumers like Verka Pio Elaichi most, 30.30% (20) consumers like Verka Pio Strawberry most and only 3.03% people like Verka Pio Pista. So most of the people like Verka Pio Elaichi.

SUGGESTIONS
The price of the product is so high. So the price should be decreased to increase the sale of the product. The Verka Milk Plant should advertise for the product to increase the awareness level and sales of the product. The Verka Milk Plant should launch beneficial schemes like 2+1 or 4+1, etc. to increase the sale of the product.

LIMITATIONS
Limited time available for interviewing the respondents. As a result of this it was not possible to gather full information about the respondents. The respondents were not very comfortable while revealing their correct usage pattern, no cause they may feel that they would be called or visited again and again. Non-cooperative approach and rude behavior of the respondents. If the respondents answer does not falls between amongst the options given then it will turn up to be a biased answer.

THANK YOU