A project on pre launching study of new masala product in pune city and its market potential analysis

A PROJECT REPORT ON PRELAUNCHING STUDY OF NEW PRODUCT MASALA IN PUNE CITY AND ITS MARKET POTENTIAL ANALYSIS AT SALVI AGRO PROCESSING PVT LTD MASTER IN MARKETING MANAGEMENT (MMM) (MARKETING SPECIALIZATION) Submitted in Partial Fulfillment of the Requirements for Award of Master In Marketing Management of Pune University, Pune SUBMITTED BY [INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] PUNE UNIVERSITY PUNE (2009-2011) ACKNOWLEDGEMENT [NEVILLE WADIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] ACKNOWLEDGEMENT It gives me immense pleasure in presenting this report on PRE-LAUNCHING STUDY OF NEW IN PUNE CITY AND ITS MARKET POTENTIAL ANALYSIS at SALVI AGRO PROCESSING PVT LTD, Pune. This report submitted by me is reflection of the efforts of many people associated with SALVI AGRO PROCESSING PVT LTD with each one playing a different role. At this very juncture I would like to express my sincere gratitude to my project guide ……………… said (Marketing Executive) of Salvi procesing pvt ltd for providing constant guidance and encouragement. His constructive criticism and suggestions benefited me a lot. I also want to thank …………………. (Marketing. Executive) who gave me time-to-time suggestions for completing my project I express my most sincere thanks to ………………………. (Chief marketing manager) who gave me this opportunity to work with the company. I am thankful to our …………………………. and my project guide …………… for their invaluable guidance. And last but not the least, I would like to thank to my family and all my friends and colleagues for all implicit and explicit support provided by them during the period of the project. I sincerely welcome suggestions and constructive criticism. With gratitude, DECLARATION I hereby declare that the project titled “Pre launching study of new product masala in pune city and its market potential analysis” is an original piece of research work carried out by me under the guidance and supervision of ……………….. The information has been collected from genuine & authentic sources. The work has been submitted in partial fulfillment of the requirement of Master of Marketing Management to Pune University Pune. Place: Date: Signature ABSTRACT The prelaunch study report has been prepared after gaining practical exposure in SALVI AGRO PROCESSING PVT. LTD for. During these days of internship my work to do pre-launching strategy for the company’s product like masala, pickle through shop senses and mapping of pune city, newspaper advertising, and pamphlet etc. Pre-launching strategy helps understand current and future market landscapes as they plan for new product launches. A product launch progresses through a number of important stages: internal communication, which encourages high levels of awareness and commitment to the new product; prelaunch activity, which secures distribution and makes sure that retailers have the resources and knowledge to market the product; launch events at national, regional, or local level; post-event activity, which helps sales forces and retailers make the most of the event; and launch advertising and other forms of customer communication. Market analysis is a tool companies use in order to better understand the environment in which they operate. It is one of the main steps in the development of a marketing plan. The first step is to conduct market research. A good market analysis should include information on industry trends, an assessment of major competitors and their strategies, a review of the channels of distribution, and a wide variety of data on current and potential customers. The market analysis provides the input for the next step in developing a marketing plan—market segmentation, or dividing an overall market into key customer subsets, or segments, whose members share similar characteristics and needs. The company then selects from among these segments the particular markets it wishes to target, and creates a marketing plan that will appeal to the target customers. CONTENTS CHAPTER CONTENTS PAGE NO.Chapter-1Rationale for the study 1-2Chapter-2Objective of studyChapter-3Profile of companyChapter-4Review of literatureChapter-5Research methodologyChapter-6Data analysis and interpretationChapter-7Findings and LimitationChapter-8Recommendation and SuggestionsChapter-9ConclusionChapter-10Appendix(Questionnaire and Bibliography) LIST OF FIGURES SR. NO. LIST OF FIGURES PAGE NO. 1Shop Senses in pune city 2Market share in pune city 3 What customer wants 4 What attract dealers 5 Consumer awareness for masala 6Market standing for masala 7Advt. and publicity for masala 8potential customers for ‘SALVI’ product 9masala that comes in customer Rationale of the study [NEVILLE WADIA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] Rationale of the study Today’s marketing is highly costumer oriented, it is important to satisfy the needs and wants of people better than the competitors owing to cut throat competition, technology changes and advancement, changing customer, tastes and preferences, shrinking product life cycle and squeezing profit margin. Hence company does not want to loose their market base. To enhance their market share and widen their customer base it’s essential to understand the consumer psychology. By understanding consumer behavior, the marketing strategies, which adapt changes according to market dynamics, can be formulated. To verify and check the effectiveness of marketing strategy, marketer should understand the consumer profile and their preferences well in advance. Company which want to enter in the market with out knowing the current market situation, is a very risky job because launching a new product in the unknown market is costlier, company can’t predict what will be result of it. There is always a threat of loss in such decision, if company is having a complete plan & knowledge of the market then defiantly it will be good opportunity & profit oriented segment for the company. That’s why this research is fully concentrated on the current market situation of salvi product. “Pre-launch study of new product in pune city and its market potential analysis” PRE-LAUNCH. It helps understand current and future market landscapes as they plan for new product launches. For example, Healthcare Practice works closely with pharmaceutical and biotech clients throughout the approval, clinical trials process to help clients gain a thorough understanding of the arena within which new products will compete, and their likely positioning and market penetration once launched. Pre-launch research routinely involves qualitative and quantitative research to help company successfully launch new products. Key questions/issues facing clients in the pre-launch phase and the methodologies used to address them include: Market needs opportunity assessments and preliminary product positioning: Qualitative research (focus groups, one-on-one interviews) is often the starting point for needs/opportunity assessments and preliminary positioning efforts, while quantitative survey research often follows to further test and refines hypotheses derived from those efforts. Key questions focus on the perceived strengths and liabilities of current competitors and the nature and magnitude of unmet needs (opportunity) in the market; the extent to which the new product is perceived as addressing those needs; and the product features and benefits that will best differentiate and position it among key target audiences. Preliminary Demand forecasts: Quantitative techniques like conjoint and discrete choice analysis are frequently used to evaluate alternative product configurations; forecast revenue and share, and help clients identify the features most likely to drive or suppress trial and sustain usage in current and future markets. Pricing Research: The same quantitative modeling techniques used to develop preliminary forecasts for new products are also applied to test price sensitivity assuming different product configurations, brands and market environments. Market Segmentation: Pre-launch segmentation helps company to identify profile and target the most receptive potential customers, and to understand the demographic, psychological and attitudinal dynamics that will propel and limit interest in the new product. Research to support marketing promotions and communications: Qualitative techniques (focus groups, one-on-one interviews) are preferred methodologies. It helps in the preparation of marketing mix strategy. Tracking Research: Quantitative tracking research often begins in the pre-launch phase, with a baseline survey designed to assess any pre-launch awareness and impressions of a product still in development; perceptions and use of currently available competitors; and anticipated positioning and usage of the new product once launched. Periodic post-launch survey research tracks changes from baseline over time in terms of awareness, impressions and market penetration of new products. PRIMARY DATA Primary data is being collected during the course of project by asking questions using questionnaire survey. Primary data is obtained either through respondent, either through questionnaire or through personal interviews. I have collected the data through personal interview of the shopkeeper with the help of questionnaire. SECONDARY DATA Secondary data are the data already available in the form of print media materials, web sites, journals etc. I have used some magazines, web sites and course materials for that purpose. CONTACT METHOD Personal interview is that process in which an interviewer obtains information from respondent in face-to-face meeting. The method of collecting information through personal interview is usually carried in a structured way. OBJECTIVE AND SCOPE OF THE STUDY [NEVILLE WADIA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] 2.1 Title of project:- Prelaunching study of new product masala in pune city and its market potential analysis OBJECTIVE OF STUDY To find out the scope & potential for launching of new product masala. To identify major competitor operating in Pune City. To find the Availability, Visibility, Freshness for the masala soaps. To study the promotional activities by actively participating in it. To find out the problems faced by the company, when company launch the new product. To find out the expectations of dealers and retailers from the company. SCOPE OF THE PROJECT The study made and data collected is useful for the future planning of the Company The study is further important to the organization in tuning the company’s strategies as per local market expectation. The study is helpful to the organization for to understand current market situation, strategy and policies adopted by competitor. COMPANY PROFILE [NEVILLE WADIA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] COMPANY PROFILE:- Salvi Agro processing pvt ltd. Mont Vert Zenith,202,2nd Floor, Near Symantec Software, Opp. Purshottam Plaza,Baner,pune-411045,Maharastra,India. Mr. Ajay Salvi-CFO, Salvi Groups of Companies, Mr. Harshad Gaikwad, Operations & Marketing Head, INTRODUCTION OF THE COMPANY:- Salvi Agro Processing Pvt. Ltd., is a venture of Salvi Group of Companies. Salvi Agro came into existence in the year 2006 with a view to tap the ever expanding agri market, be it domestic or international.The Salvi's come with a rich experience of many years of traditional farming. Traditional farming, as you might be knowing was confined to the local/domestic market due to lack of exposure of the global market.The economic reforms have necessitated professionalism in vital sectors of the Indian economy. Transformation of the agriculture sector into a competitive sector calls for professional management and use of modern technologies in areas such as specialized production, post-harvest management, promotion of value added agri products, supply chain management, etc., so as to position these competitively both in the domestic as well as in international markets. Salvi Agro are very sure of providing top of the class agri products. Salvi agro plantations, processing plants and storage systems are housed on 62 acres of real estate in the Konkan region of Maharashtra. Salvi agro also take pride in our state-of-the-art processing machinery, QA/QC procedures, logistical support and our international/domestic business associates.salvi agro project plans include: Cashew Processing Spices, Masalas & Papad manufacturing Milk & Dairy products Cultivation of exotic vegetables Fruit powder processing The activity of salvi agro:- Salvi agro embarked on this activity in the year 2008 with a view to supply international standard cashews to the retail and export market. salvi agro’s propose to export our products to Europe/Japan/UAE/USA. We offer varieties of cashew such as: Plain graded Salted & Roasted Flavoured Preparation:- salvi’s cashew plantations are spread over an area of 62 acres in the Konkan region of Maharashtra. Top quality cashew the world over are known to come from this area. Salvi’s current production capacity is 150 MT per annum, which can be increased as and when needed. company have own processing plant of 5000 sq. ft., which can be expanded depending on the needs. Salvi’s enjoy services of around 30 staff members. We cater to custom-made enquiries as well. Licenses & Approvals :- Salvi’s project is backed by the following legal documents: Export License Certificate from the Environment Ministry Approval by National Agriculture & Food Analysis & Research Institute(NAFAR Company’s products:- PRODUCT NAMENET WT.MRPPlain cashew50gm30Cheese cashew50gm39Plain almonds50gm35Honey cashew50gm39Chat cashew50gm35Masala cashew50gm35Black paper cashew50gm35Salted cashew50gm35 Work Culture Working Hours: Six Days a week -10.00am to 6.00pm , Late remarks will lead to deduction from salary,No female employees shall be allowed or required to work after 7 P.M, In case of overtime, any extra hours or working on weekends, the company is liable to pay extra amount if granted by the higher authority. Dress code : For Monday to Thursday :Men: Formal Shirt & Trousers with formal Shoes Women: Formal dress or Punjabi Dress, For Friday & Saturday: Casual Dress Motto :- Multitasking ,Anyone and everyone can do everything. Leave Policy:- Leave Application letter is needed to apply for leaves,Break up of Paid Leaves: PROCESSING OF SALVI AGRO PRODUCTS:- PRODUCT IMAGE:- HONEY CASHEW MASALA CASHEW SALTED CASHEW CHAT CASHEWCHEESE CASHEW BLACK PAPER CASHEW PLAIN CASHEW REVIEW OF LITERATURE [NEVILLE WADIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE ] Review of literature Masala:- Masala:-a masala can either be a combination of dried sices, or a paste made from a mixture of spices and other ingresients-often garlic, ginger, and onion. It is used extensively in Indian cooking to add spices and flavor. Definition of prelaunching:- Prelaunch helps understand current and future market landscapes as they plan for new product launchesFor example, healthcare practice works closely with pharmaceutical and biotech clients throughout the approval clinical trials process to help clients gain a thorough understanding of the arena within which new products will complete and their likely poisoning and market penetration once launched. The introduction of a new product to a market. A product launch progresses through a number of important stages: internal communication, which encourages high levels of awareness and commitment to the new product; prelaunch activity, which secures distribution and makes sure that retailers have the resources and knowledge to market the product; launch events at national, regional, or local level; post-event activity, which helps sales forces and retailers make the most of the event; and launch advertising and other forms of customer communication. Market Analysis: Market analysis is a tool companies use in order to better understand the environment in which they operate. It is one of the main steps in the development of a marketing plan. The first step is to conduct market research. Then comes market analysis, which involves critically reviewing and organizing the data collected so that it can be used in making strategic marketing decisions. A good market analysis should include information on industry trends, an assessment of major competitors and their strategies, a review of the channels of distribution, and a wide variety of data on current and potential customers. The market analysis provides the input for the next step in developing a marketing plan—market segmentation, or dividing an overall market into key customer subsets, or segments, whose members share similar characteristics and needs. The company then selects from among these segments the particular markets it wishes to target, and creates a marketing plan that will appeal to the target customers. \"
Small businesses that identify the needs of specific target markets—existing and potential customers who are the focus of marketing efforts—and work to satisfy those needs, are more effective marketers, The next area of a market analysis involves creating an in-depth portrait of customers. Through market research, the company tries to answer such questions as: who are the primary decision makers and purchasers; what are their main motivating factors; and when and where do they tend to buy? The key is to understand how customers make their purchasing decisions in order to be able to influence those decisions. Market research might assess such demographic features as age, gender, income level, educational background, financial situation, marital status, household size, and ethnic or religious background. Once this information has been broken down through market analysis, the company then creates a detailed description of the most desirable segment of the market to be included in the marketing plan. The market analysis should demonstrate why the target market chosen is more favorable than other segments, since the company will be investing its limited resources in marketing to that target market. In addition to its role in developing the marketing plan, market analysis has numerous other implications for company strategy. \"
Once we understand the phenomena that underlie the behavior of our markets, we can assess our strengths and weaknesses relative to those phenomena. External threats and opportunities need to be carefully examined so that we can apply our strengths to areas with high potential and avoid major environmental pitfalls. Finally, we must link the resulting diagnosis to our corporate capabilities, strategies, and constraints in order to ensure a good fit between our marketing strategy and major corporate goals and objectives. RESEARCH METHODOLOGY [NEVILLE WADIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] RESEARCH METHODOLOGY The research methodology primarily based on the secondary data collected from different sources of information. It gives a clear idea regarding the approach of the study to understand the buying behavior of the consumer behavior for masala product. To understanding the masala product scenario of pune city is an important study to make a conclusion regarding the growth of masala product in the market, acceptance of particular brand by the people, past draw backs made by the producers and the recommendation by the consumers. Source of secondary data the books, magazines, internet, television, newspaper etc. There is no particular or specific book where the complete information about consumer behavior for masala products. In this case the information from different books is collector and assimilated according to the study objective. Television is another important source of information for this project from which recent data are collected for the study. The news papers provided the desired information. Like economic times etc. these newspaper are so important that sometimes they play their role both a secondary as well as primary source of data (because sometimes the current information that is available through these newspaper are not even uploaded on internet also.) developing strategy based on the customer feedback i.e collection of primary data by considering a definite sample size of hundred. The primary data based on questionnaire technique and their results gives a generic idea regarding the study objectives. The geographical area for the sample size considered is the local are in pune city. The data which are being colleted from the consumers during the primary analysis are separated according to their specific weightage. From the question five comparative question are considered for comparison. The open ended questions and the closed ended questions used in the questioner for customer feedback have different weightage and are separated to make a unique analysis. The main influencing questions are again analyzed to get clear result from the analysis. The different companies are considered for realizing the perfect completion among them so that perfect interpretation can be made upon them. For the masala brand which are considered are prawin, mother recipe, rasoi magic etc other other competitor are also considered for the secondary study but not encountered in the main study. The market scenario for masala in pune city:- Pravin Masalewale Pravin Masalewale is a four decade old leader in the Spices & Papad Industry operating throughout Maharashtra and through adjoining states of Western and Central India. Manufacturer & Exporter of Cooking Spices, Papads and other Food Products. ProductManufacturer & Export / Import of Single Ingredient Spices : Chilly Powder, Turmeric Powder, Coriander Powder. Blended Spices : Kanda Lasoon Masala, Chatpat Masala, Garam Masala, Sambar Masala, Pav Bhaji Masala, Chole Masala, Biryani Masala, Chat Masala, Tea Masala, Subji Masala, Milk Masala, Pickle Masala, Chiwada Masala, Curry Powder, Super Masala. Papads (Handmade/Machinemade) : Udid, Garlic-Green Chilli, Sindhi, Punjabi, Rajasthani, Palak, Chana, Potato, etc. Food Products : Fried Onions, Garlic Powder, Garlic Flakes, Papadums, etc. Suhana Suhana recently launched its spanking new range of products: Suhana Spice Mixes. delectable ready-to-cook gravy mixes that combine the convenience of a ready mix with the sophistication of a gourmet's formulation. Every product captures both the subtlety of fine dining with the robust convenience of everyday cooking. Everest Unlike Western cooking wherein the emphasis is on retaining the original flavour of the meat or vegetables in a dish, in Indian cuisine, it is the aroma, taste, and colour of a spice mix or \"
masala\"
that dominates most dishes. Masalas are prepared by blending a number of pure spices (sometimes more than 30) like chilli, turmeric, coriander, pepper, cardamom, cumin, clove, etc in precise proportions to give a blend (called a \"
masala\"
) that imparts a distinct colour, aroma, and taste to a dish. For more than 45 years, Everest has shaped the preference for branded spice in a country where home-made blends were the norm since time immemorial. It is estimated that over 20 million households regularly use Everest spices that are available in around 400,000 outlets in more than 1000 towns across India. Parampara Parampara is a closely-knit family partnership company manufacturing a special spice based product termed as 'Gravy Mix'. Behind the name Parampara, is a solid 50 years of kitchen tradition.Initiated as a small outfit that made mouth-melting pickles and other taste- enhancing masalas like garam masala, goda masala, papad etc.,Parampara today has graduated to ready masala mixes in traditional Indian flavour. With a current product range of 20 different varieties of masala mixes, Parampara is continuously working to blend old cooking methods with the modern lifestyle. Rasoi Magic Competitive analysis in pune city ManufactureBrand typequantityMRPpravinKanda chilli powderBydgi chilli powder200 g1 kg200 gm1 kg 2613048 225suhanaChicken masala 10 gm 50 g320Meet masala 15 gm 5 Sabji masala200 gm35AmbariTurmeric powder 40 gm100 gm200 gm153356Dhana powder40 gm100gm200gm7 1528EverestSabji masala10gm50 gm 2.5018Samber masala10gm50 gm2.5019Garam masala10 gm50gm3.5024Meet masala 10 gm 50 gm3.5022Chicken masala10gm50 gm3 21jagjeera5 gm 1Biryani masala 50gm34Chole masala50 gm19Mothers recipeChicken masala100 gm35Matun masala100 gm35Butter chicken 100 gm38Paneer butter 75 gm38Veg biryani 75 gm35 Pav bhaji100 gm35 paramparaChicken masala80 gm35Matun masala80 gm35Veg masala 80 gm35Rasoi magic Kolhapuri masala50 gm30Chana masala60 gm30Paneer tikka 50 gm32 While deciding about the method of data collection to be used for study the researcher should keep to types of data. Primary data Secondary data We use in our research primary data, as well as secondary data. Primary means collected a fresh, and the time data( through existing customers) ans secondary means which are already available like annual report magazines etc. Survey Method Survey refers to the method of securing information concerning phenomena under study from all or selected number of respondents of the concerned area. In a survey the investigator examines those phenomena which exist in the universe independent of his action. We used the scheduling method. Scheduling In this method the enumerators along with schedules, go to respondents, put on them the questions from the performa in the order the question are listed and recorded the replies in the space meant for the performa. P’s Of Marketing PRODUCT:- Salvi company being primarily a cashew processing company,but salvi launching new product masala. A masala can either be a combination of dried (and usually dry roasted) spices, or a paste (such as vindaloo masala) made from a mixture of spices and other ingredients —often garlic, ginger, and onions. It is used extensively in Indian cooking to add spice and flavor. PRICE:- Price of salvi masala is totally based on the relative prices of the other available brands in the pune city.like pravin Everest Mothers recipe parampara Rasoi magic Out pricing polices will be based on value based pricing and competitive based. during the festival season, we would also be providing gift hampers, to our customers, and their prices will be accordingly. PLACE:- We are located in only in maharastra.like ratnagiri, konkan, and we are launching pickle in pune city. PROMOTION PRE-LAUNCH PROMOTIONAL STRATEGIES:- Print Media:- We will be going for a large scale promotion through newspapers as this is one source of communication available to all and used by all sections of people. We will target the pages that are most viewed by the people that are the first page, the page 3, sports page and the last page. We will go in for a half page advertisement on the first and the sports page and a full page advertisement on the last page. The aim is to create a new image of salvi masala selling a food product. This kind of advertisement will be published from at least two months of the actual launch of the product so as to create a kind of curiosity in the minds of the people; so that once the product is launched they will at least try it once. The advertisement will be a colored one that will be meant to attract the attention of the reader. The right side of the advertisement will carry the company name salvi and theinformation will be written in big bold letters. The page will have an in-filling of the salvi.In addition to that we will be putting up posters in the retail shops that will be supplying our product. This is aimed at creating hype amongst the buyers. T.V. Commercial As we have seen, salvi does not have many advertisements running on local television; we will be emphasizing more on local T.V. commercials. PMPML( pune mahanagar parivahan mahamandal limited) Salvi will be going for a large scale promotion through PMPML buses. FM radio channels. Salvi will be going for a large scale promotion through radio channels in pune city. PACKAGING We are launching pickle in Stand wise packaging. Logo is printed on middle of the packaging. The packages are broadly categorized as:- Regular packs- The regular packs available in the packing of 200 gms. and 400 gms. is meant for the routine consumption of the product. Family packs- The family pack available in the packing of 1 kg. and 2 kgs. is designed to allow its consumers of bigger savings onbulk purchases.The family pack can be parallelly called a ValueSaver Pack. Eco-Friendly Packaging: The matter used for the packaging of the biscuits is Biodegradable and it poses no threat to our environment. Attractive colors: The package is designed in different colors, Each hinting the Flavor it contains. The colors used are not harmful and make the packaging more striking. MARKET SEGMENTATION:- We first divided the market geographically into two part; Rural area city area Furthermore, we segmented these markets on the basis of Business per day and customer per day. Like We create three category-A,B,C CategoryCustomer/dayBusiness/day A Above 603000-4000 B 30-60 2000-3000 C 10-30Below 2000 PRE LAUNCH AND LAUNCH DAY We will show half addvertisment 2 months before through different mediums ofpromotion. In order to create curiosity in buyers. On big retails outlets food bazaar, realince fresh, more, naya bazar, apna bazar etc . We will put sample masala for sale so that feedback can be taken properly of the buyers and subsequent changes can be bring about it. 2 days before launching we will start showing advertisement all around the pune city for our pdt. in starting 2 months our maximum investment on video, audio and print adds. There will be an advertisement on local channel in pune city at because”JO DIKHTA HAI WHO BIKTA HAI”. We will take into consideration radios also Our adds will be very simple showing standard life with showing all qualities. To sell a product it is necessary to create a big brand image. Secondly our competitors are multinationals with lots of money, brand image and quality so it is necessary to hit the market on right time and right place. On the day of launch we will hire trucks or tempo and busses and show stage shows in mall roads where there is a big public gathering. For shows we will target in cities so that our target customers that are upper middle and high class persons. Adverstisments will be showing everything and targeting on quality of product and our aims. COMPANY’S SOCIAL RESPONSIBILITIES Analyze, evaluate and assess the social and environmental impact of new products, technologies and processes at the design and development stage. We support social and environmental projects and develop partnerships with businesses and organizations whose direct or indirect output contributes to a sustainable society. It not only work for the welfare of the employees we will also try to provide welfare programs for there family. For instance we will provide education facilities and try to provide home based work for the ladies in the house. Special training programs will be organized for our employees at each level so as to provide them with a platform for professional as well as their personal development. DATA ANALYSIS AND SUGGESTIONS [NEVILLE WADIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] Data analysis and interpretation:- Fig 6.1( Shop Senses in pune city) Findings: - Maximum shop is grocery shop in pune city then pan shop. Company will prefer grocery shop and pan shop then medical and bakery shop. Fig 6.2 (Market share of pune city) Findings:- Maximum preferred brand is pravin. Parampara and Rasoi magic are preferred by very less no. of customers. . Fig 6.3 (What customer wants) Findings:- Quality of the products is mainly considered by customers while going to purchase the masala. Customer preferred vary according to the standard of living of the area e.g. low price is preferred and in brand name is preferred. Fig 6.4 (What attract dealers) Findings:- More dealers attract from the high profit margin as well as quality of the product Different-different schemes for the dealers are also attract the dealers. Fig 6.5 (Consumer awareness for masala) Findings:- Only 13%(other) people attracted towards the banner, local bus, advertise. Television is the most demanded for getting awareness regarding masala. Fig 6.6 (Market standing for masala) Findings: - Salvi is very old brand in cashew in pune city, so many people knows about salvi. but now days the market standing is not so competitive. Fig 6.7(Advt. and publicity for masala) Findings: - 40% said advt and publicity is must for masala, 30% said advt and publicity is not must for masala. Fig: 6.8 (potential customers for ‘SALVI’ product) Findings: - 50% family customer for salvi’s product, and 30% Hotel uses salvi’s product. Fig: 6.9 (masala that comes in customer) Findings: - Pravin is the first brand of masala that comes in customer, then salvi. FINDINGS AND LIMITATIONS [NEVILLE WADIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] FINDINGS AND LIMITATION FINDINGS A survey is always done to find out something and suggest something according to those findings. Here also in this survey I have found many things and according to those findings I have tried to suggest some points which can be effective to improve the sales of salvi products and the improvement in the service area. Retailer or customer knows the salvi product but only in cashew products. Lack of the proper advertisement and brand ambassador. So it is hard task for the retailer to make product awareness among the customer. Delivery is the main area of concern for the improvement in service for salvi products. Proper delivery routes are not designed so there is lack of co-ordination between ordering and distribution departments. Packaging of goods for delivery is not up to the mark. 70% retailers are happy with in billing and payment issues which can results in building the goodwill for the salvi. Salvi is aggressive towards business expansion. LIMITATIONS As only pune was dealt in survey so it does not represent the view of the total Indian market. Market trend of Pune as all the shops were closed between 2:00pm to 4:00pm for lunch and after 5:00pm they don’t entertain. When I interviewed retailers, sometimes they use to give answers under the influence of that I am the representative of the company. SUGGESTIONS AND RECOMMENDATIONS [NEVILLE WADIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] SUGGESTION AND RECOMMENDATIONS:- The Recommendations which can be given according to the analysis done in the earlier segment are: Company must try to increase market potential and sales promotion in the market. Company must try to provide proper follow up with dealers as well as sub-dealers. Company should concentrate more on television for advertisement, as mostly people are attracted through television adds. Company should concentrate on its packing as retailers are least satisfied with it. Retailers are least satisfied with quantity and price of masala so company should concentrate in this regard also. Many existing retailers are not happy with the service of the company. So serious steps should be taken to keep them intact. Special training should be given to delivery related personnel so that the problem about the delivery gets extinct. SUGGESTIONS AND RECOMMENDATIONS [NEVILLE WADIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] CONCLUSION Gone are the days when people did not have choice to make if they decided to buy somethings or to produce something. Today the situation has changed. Today’s market is much more consumer driven and the goods have to be manufactured according to the needs of the consumer if the producers ought to make profit. Consumer has become the king and his needs bear the greatest importance. Today companies have realized the importance of segmenting, targeting and position the goods as the essence of success to their long lasting existence. Today in this present scenario of cut throat competition evidenced by the advent of globalisation, the corporate world has learned very quickly that differentating their products from that of their competitiors is of prime importance. Prelaunching products streatgy understand current and future market landscapes as they plan for new product launches. Pre-launch research routinely involves qualitative and quantitative research to help company successfully launch new products. Qualitative research (focus groups, one-on-one interviews) is often the starting point for needs/opportunity assessments and preliminary positioning efforts. Quantitative techniques like conjoint and discrete choice analysis are frequently used to evaluate alternative product configurations; forecast revenue and share, and help clients identify the features most likely to drive or suppress trial and sustain usage in current and future markets. APPENDIX(QUESTIONNAIRE AND BIBLOGRAPHY) [NEVILLE WADIYA INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, PUNE] APPENDIX(QUESTIONNAIRE AND BIBLOGRAPHY) QUESTIONNAIRE Dear sir/Madam: This questionnaire is part of a market study being conducted by me (Rohit kumar tiwari). The aim of the study is” prelaunching study of new product masala in pune city and its market potential analysis” any information provided would be used for academic purpose and kept confidential. 1.Please fill in your essential details for better understanding. A)Shop owner’s name…………………………………………………………….. B) GenderMale Female C)Shop name…………………………………………………………………… D)Shop address……………………………………………………………… E) Shop type……………………………………………………………….. D)Contact no…………………………………………………………….. E) Business /day…………………………………………………………. F)Customer/day…………………………………………………………. 2. Which are the existing brands of masala available in your shop? a) Prawinb) Everest c) SALVId) Other’s (specify)……….. 3. Name the first brand of masala that comes in your mind? a) SALVIb) Prawin c) Everestd) Other (specify)………. 4. Which are the potential customers for ‘SALVI’ product? a)Familiesb)Hotel c) Others 5. How much is the sale of branded masala out of total sale? a) Above Averageb) Average c) Below Average 6. Please rank the following brand on the basis of sale? (1-represents max. sale and 5 represents min. sale) a) SALVIb) Prawi n c) Everestd) Parampara e) Other (specify) 7.Which qualities do you expect in masala? Price quality quantity packaging margin other 8. Do you feel the advertising and publicity are essential of a masala? Yes No Not known No opinion 9. What is the market standing of masala as compare to today’s market? Very comperative No relevent Not so comperative 10. Please select the superior brand of cashew on following attributes. SALVIPrawin EverestParamparaOther(specify)Margin Quality Packaging Return policy Lead time Frequency of salesman visit 11. How would you rate your relationship with company, considering all of your experiences with them? Would you say it is…. . Excellent Very good Good Fair Poor 12.Comments /suggestion’s (if any)…… ------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- BIBLIOGRAPHY WEBSITEBOOKwww.google.comResearch Methodology- Dr.V.P.Michelwww.wikipedia.comMarketing Management-Philip Kotlerwww.salviagro.comasianfoodcompany.comProductlaunch.commarket-analysis.com [TMV/IBSAR/MBA/09-11]

A project on pre launching study of new masala product in pune city and its market potential analysis

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A project on pre launching study of new masala product in pune city and its market potential analysis