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BS Project Synopsis For Salt

The document summarizes a marketing project for a salt brand called Ionic Salt. Some key points: 1) The company, Ionic Industries Limited, produces iodized salt under the brand name Ionic Salt. Their goal is to deliver good quality salt at affordable prices nationwide. 2) Ionic Salt comes in various types and is standardized and packaged in 1kg packets. It is produced through a two-step extraction and refinement process. 3) The company uses a two-level indirect distribution channel to reach customers: manufacturer to wholesaler to retailer to consumer. This allows them to cover a large market area efficiently.

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Manav Nagpal
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162 views

BS Project Synopsis For Salt

The document summarizes a marketing project for a salt brand called Ionic Salt. Some key points: 1) The company, Ionic Industries Limited, produces iodized salt under the brand name Ionic Salt. Their goal is to deliver good quality salt at affordable prices nationwide. 2) Ionic Salt comes in various types and is standardized and packaged in 1kg packets. It is produced through a two-step extraction and refinement process. 3) The company uses a two-level indirect distribution channel to reach customers: manufacturer to wholesaler to retailer to consumer. This allows them to cover a large market area efficiently.

Uploaded by

Manav Nagpal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BUSINESS STUDIES MARKETING PROJECT

PRODUCT- SALT

BRAND NAME: ICONIC SALT

SYNOPSIS

I have chosen Salt as my main marketable commodity for this project. The
reason for choosing Salt is that everyone can connect to this idea. It is an
important cooking ingredient and is used in every kitchen. Salt is
something consumed by the rich and the poor alike, and it is one of the
most essential items of food. No matter what social, economic or cultural
background a person comes from, they consume salt daily. Salt is deemed
as a necessity and not a luxury.

My company’s name is ‘Ionic Industries Limited’ and the salt is sold


under the brand name of ‘Ionic Salt’. The tagline of the company is ‘Ionic
Salt, The Iconic Salt’. The USP is ‘assured purity’ at an ‘affordable price’.
It aims to deliver good quality, iodized salt to every corner of the country.
The company fulfils its corporate social responsibility by spreading
awareness, especially in rural areas about the importance of iodized salt
and its value in the healthy development of the human body. It also
believes in the philosophy to refuse, reduce, reuse and recycle.

The features of Ionic Salt include iodised, pure and hygienic, free flowing,
fine grain size and blendable. It offers a wide range of salts to its
customers: Ionic Salt, Ionic Salt Plus, Ionic Salt Lite, Ionic Black Salt and
Ionic Rock Salt.

Grading is done in terms of the various types of salt offered. Ionic salt has
adopted standardization by weight. All variants of Ionic salt are of
standard size and are packed as 1kg packets. Random sampling is done
to ensure that the quality is strictly maintained.

Ionic salt is the end product of a two-step process of extraction and


refinement – called Solution Mining and Brine Evaporation.
Ionic industries Limited is a legally registered company with all the
required permissions and licenses, viz., FSSAI license, Industrial license,
Environmental Clearance, Factory license, Trade license, Trade Mark and
Import Export Code.

Ionic salt has two levels of packaging. The primary packaging of salt
includes see-through packets that assure the customer its purity,
whiteness and good quality. Rock salt and black salt have a unique
crusher format to attract customers. A well-designed label is put on the
product which specifies the contents of the product and helps the
consumers identify the product. Ionic salt uses cardboard boxes for
transportation packaging. ’30’ 1kg packets can be placed in each box and
every box has the ionic salt logo and batch number on it.

Competitors of ionic Salt include Tata Salt, Annapurna Salt, Nirma Shudh
Salt, Patanjali Salt and Saffola Salt Plus.

The cost- effective techniques used for production include reducing


unnecessary transportation costs as the factory is planned to be situated
near to the source of raw materials and labour and cutting costs by
purchasing raw materials in bulk.

The price of Ionic Salt ranges from Rs. 15 to Rs. 120 depending on the type
of salt. The factors affecting the price are Product cost, The Utility and
Demand, Extent of competition in the Market and Marketing Methods
Used. The profit margin ranges from 6% to 25%. The selling prices of my
competitors are __________________________________and their profit
margin is________________________________ Our profit margin is less
when compared to our competitors owing to the fact that we are new to
the market and they are established companies. Another factor is that we
are offering a higher margin to our intermediaries so that they are
encouraged to sell our products which will help us to gain a strong
foothold in the market.
The channel of distribution I have chosen to use is a Two-Level Indirect
Channel of Distribution.
Manufacturer→ Wholesaler→ Retailer→ Consumer
Use of two middlemen in the channel network enables the manufacturer
to cover a larger market area. Value addition in terms of price takes place
at each level of the distribution channels. It helps in reducing cost and is
a more efficient method of marketing. It reaches a wide array of customers
and also stimulates faster growth. These are the reasons I have chosen this
channel of distribution.

Ionic Industries Limited uses private warehouses for this purpose. This
type of warehousing has been selected because
-Salt is a non-perishable product. It is stored for a considerable amount of
time near Ionic Industries Limited factories before being transported.
-Private warehouses whether owned by the retailer, manufacturer or
wholesaler can be modified through expansion and renovation easily.

Ionic salt is first transported through rail from its main plant to its
warehouses located in the main regions of the country. Rail transportation
has been chosen for the following reasons:
Dependable, Better Organized, High Speed over Long Distances, Cheaper
Transport and Large Capacity. After shifting it to the warehouses, it is
transported to the wholesalers and retailers by road using trucks.

Promotion methods used by Ionic Salt are Advertising, Personal selling,


Sales promotion, Public relation and Direct marketing .
Promotion techniques include Online Marketing, Sales Promotion, Print
Media, Celebrity endorsements, Social Media Marketing, Customer
feedback. Wholesalers Schemes are
____________________________________Retailer Schemes
include________________________________________. Incentives for
Customers will be_________________.

The cost effective techniques followed for promotion are word of mouth,
social media, e-commerce, press releases, coupons and discounts, using
videos etc.
By way of this project, I understood the importance of the 4Ps of
marketing mix for the success of any business. Knowledge of marketing
mix is important to make marketing decisions. A right mix of 4Ps can lead
to the success of a product.

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