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Submitted By:Abhijit Samanta Banani Aich International School of Business & Media Kolkata
Abhijit Samanta Banani Aich
International School of Business & Media
A work is never a work of an individual. We owe a sense of gratitude to the intelligence and co-operation of those people who had been so easy to let us understand what we needed from time to time for completion of this project. We want to express our gratitude towards Prof. Goutam Ghosh, Director, ISB&M,Kolkata for giving us an opportunity to do this project. Last but not the least, we once again would like to forward our gratitude to everyone who always endured us and stood by us and without whom we could not have envisaged the completion of our project.
To start any business the success entirely depends on the marketing research done about the particular and the consumer attitude towards the product. Marketing research plays a vital role in a business to make it success. We have tried to put our maximum effort to get the accurate statistical data. However we would appreciate if any mistakes are brought to us by the reader.
Marketer needs to use advertising and brand building strategies to address the discerning buyers and retail push to in different buyers. The manufacturer should understand consumer behavior because retailers can‟t help quality and price. It is only up to manufacturers to deliver what consumer wants. I need to stress on it because 58% retailers said that it is demand why they sell Britannia, 61% agree that at retail shop it is brand popularity, which determine the purchase of biscuit. There is a greater need to understand the retailer behavior. Considering them as a team, working for the company may help them to be attached to the company. There should be a feeling of belonging to the company in inner of the retailers. This can be done by setting values club for retailers so that they may exchange views with the company and help in understanding consumer behavior.
Table of Content: -
TOPIC Page No. 3 3 4 6 7 8 9 9 10 10 11 11 12 14 15 16 16 16 18 19 20 21 22
Acknowledgement… Preface……. Executive Summary… Introduction… Methodology… Findings: Britannia Product Overview… Nutri Choice 5 gain Tiger Banana Nutrichoice Sugerout Britannia 50-50 peeper chakkar Nutri Choice Digistive Biscuit Treat Fruit Rollz New Britannia Milk Bikkis Marketing Strategy Market Segmentation Target Markets Brand Positioning Research and Development Marketing Mix Competitors Market Potential SWOT analysis Conclusion Annexure 1
The story of one of India‟s favorite brands reads almost like a fairy tale. In 1982 to be precise, a biscuit company was started in a nondescript house in Calcutta (now Kolkata) with an initial investment of Rs. 295. The company we all know as Britannia today. The beginnings might have been humble-the dreams were anything but, by 1910, with the advent of electricity, Britannia mechanized its operations, and in 1921, it became the first company east of the Suez Canal to use imported gas ovens. Britannia‟s business was flourishing. But, more importantly, Britannia was acquiring a reputation for quality and value. As a result, during the tragic World War II, the Government reposed its trust in Britannia by contracting it to supply large quantities of “service biscuits” to the armed forces. As time moved on, the biscuit market continued to grow… and Britannia grew along with it. In 1975, the Britannia Biscuit Company took over the distribution of biscuits from Parry's who till now distributed Britannia biscuits in India. In the subsequent public issue of 1978, Indian shareholding crossed 60%, firmly establishing the Indianness of the firm. The following year, Britannia Biscuit Company was re-christened Britannia Industries Limited (BIL). Four years later in 1983, it crossed the Rs. 100 crores revenue mark. On the operations front, the company was making equally dynamic strides. In 1992, it celebrated its Platinum Jubilee. In 1997, the company unveiled its new corporate identity – “Eat Healthy, Think better” – and made its first foray into the dairy products market. In 1999, the “Britannia Khao, World Cup Jao” promotion further fortified the affinity consumers had with “Brand Britannia”.
Britannia strode into the 21st Century as one of India's biggest brands and the preeminent food brand of the country. It was equally recognized for its innovative approach to products and marketing: the Lagaan Match was voted India's most successful promotional activity of the year 2001 while the delicious Britannia 50-50 MaskaChaska became India's most successful product launch. In 2002, Britannia's New Business Division formed a joint venture with Fonterra, the world's second largest Dairy Company, and Britannia New Zealand Foods Pvt. Ltd. was born. In recognition of its vision and accelerating graph, Forbes Global rated Britannia 'One amongst the Top 200 Small Companies of the World', and The Economic Times pegged Britannia India's 2nd most trusted brand.
Today, more than a century after those tentative first steps, Britannia's fairy tale is not only going strong but blazing new standards, and that miniscule initial investment has grown by leaps and bounds to crores of rupees in wealth for Britannia's shareholders. The company's offerings are spread across the spectrum with products ranging from the healthy and economical Tiger biscuits to the more lifestyle-oriented Milkman Cheese. Having succeeded in garnering the trust of almost one-third of India's one billion populations and a strong management at the helm means Britannia will continue to dream big on its path of innovation and quality.
In order to collect the relevant information for this project we used basically two types of resources. 1. Primary Data: - We conducted a market survey to find out various factors. Sample Size: - 7 Shops. Location: - Shops in Behala, Kolkata region. Questioner: - Question regarding types of product, Quality, Price over various brands. 2. Secondary Data: - Internet, www.britannia.co.in
BRITANNIA PRODUCTS OVERVIEW
According to the view of most of the consumers compromising with quality of food is not a good habit. As all kinds of nutrition solutions cannot come from a single type of food alone, the main requirement is to find out such a type of food where different combinations of benefits of food is available. Britannia NutriChoice 5 Grain Biscuits are a perfect answer to those looking for healthy eating options without as much making compromise on taste, or convenience, or health.
Nutri Choice 5 Gain
Because Britannia NutriChoice 5 Grain biscuits are made from 5 carefully chosen healthy cereals (Oats that help reduce bad cholesterol, Corn which promotes heart health, Ragi a good source of both Calcium as well as Fibre, Rice low in fat, and Wheat that provides wholesome energy). These biscuits are delicately sweetened with natural honey, and come in a unique large oval shape. It is this large size and the healthy combination of the ingredients that make it an ideal hunger buster for those in-between meals time hunger.
These are also available in different packet sizes. So whenever a breakfast is missed people simply can opt for this product.
Britannia is committed to help secure every child's right to Growth & Development through good food every day. Purposefully taking forward the credo of 'Eat Healthy, Think Better ', they have launched a new variant under our power brand TIGER - TIGER BANANA - power packed with IRON ZOR & and with the delightful taste of banana. IRON ZOR helps make mind sharper and body stronger. A Rs.4 pack has as much IRON ZOR as that in 1 kg of Banana. R&D in Britannia has spent considerable time to develop this nutritious and delightful snack for children. Britannia Tiger Banana packed with IRON ZOR and goodness of Banana is accessible to all, being available in convenient packs priced at Rs.2, Rs.4 and Rs.10.
The earlier days believe of people that healthy food means compromising with taste has changer with this product of Britannia. Without extra addition of sugar this product tests really great. This is because NutriChoice SugarOut is sweetened with "Sucralose," derived from sugar, which provides the same sweetness as any other biscuit, without the added calories of sugar.
This range is available in 3 delicious variants namely Litetime, Chocolate cream, and Orange cream, targeted towards all health sensitive people. It is also relevant for consumers with sugar related ailments.
Britannia has chosen to represent these biscuits with "No Added Sugar" claim, as there is no added sugar in the processing of NutriChoice SugarOut.
Britannia 50-50 Pepper Chakkar
The launch of the latest 50-50 variant left everybody guessing "What it eez?" From TV ads, radio, outdoor and instore display materials to events, a website and SMS and email blasts, traditional and new media were blended synergistically to create excitement and curiosity about the unique taste of the biscuit. The tangy and distinctive pepper flavoured biscuit, that's thin and crispy and more like a snack, caught the imagination of a younger audience craving something to nibble on. The 50-50 Pepper Chakkar launch is truly a case of leveraging the marketing mix to best advantage.
NutriChoice Digestive Biscuit
Nothing can be more difficult than making small efforts in our daily life towards healthy and active living. 24/7 we are engrossed in our busy schedules; skipping meals, missing walks, along with inadequate sleep and frequently eatingout, all take a heavy toll on our health. At least with the new and improved NutriChoice Digestive Biscuit, we have one less thing to worry about. Made with 50% whole-wheat and packed with added fibre (10% of our
daily dietary needs), these delightfully tasty biscuits are amongst healthiest bites of the day.
Treat Fruit Rollz
All kids who have relished the yummy creamy treasures of Britannia Treat in exciting flavors, have yet another reason to celebrate. The cause is Treat Fruit Rollz !!. These tasty soft rolls are filled with real fruits and provide a healthy yet mouthwatering treat to the kids. Fruit Rollz comes in four masti fruit flavours - Juicy Apple, Strawberry Surprise, Tangy Orange and Delicious Dates! They make the best Tiffin treats! So during snack time what better than to munch on the delicious and healthy Fruit Rollz and discover the yummy fruit flavor from within the shells. Keeping up with Britannia's platform of 'taste bhi, health bhi', Fruit Rollz is indeed a yummy snacking option for kids, while keeping the Moms assured about the goodness provided by the fruit filling.
New Britannia Milk Bikis
Milk Bikis, the favourite growth partner of Kids, now brings greater value and delight to all with its new product and pack design. Recently re-launched in its existing Southern & Eastern markets, and extended across India, the new Milk Bikis is all set to add excitement and appeal to „nutritious‟ food. Whoever said that „good food‟ needs to look „dull and boring‟, will just have to take a look at Milk Bikis. With a unique and attractive honeycomb design and an enhanced product experience, the new biscuit prompts the „Kid‟s will love it‟ reaction amongst mothers. The milk goodness in the recipe is now enhanced with SMART NUTRIENTS – 4 vital vitamins, iron and iodine, proven to aid mental and physical
development in growing kids. The premium packaging, besides appealing to kids, also ensures that the biscuits remain fresh and crisp.
For other products and their details please refer to Annexure-1.
The marketing strategies for any company are not about a fixed concept. Rather it is full of new challenges every day, and the companies must respond to it very positively. The market process is applicable to more than goods and services. Anything related to market including ideas, events, policies, prices and personalities comes under market strategy. However it is important to emphasize opportunity in the market through market strategy. The following strategies are basically adopted by Britannia in order to capture a good market share. A strong quality of the product and customer satisfaction: General customers are basically concerned about the quality of product rather than the price of the product. In our survey we found that basically people are first looking for the quality. If good quality is there in the product then they are only looking for the price. But if the quality is not satisfactory they even don‟t looking about the pricing of the product. In this regard Britannia always maintained much more importance over there product quality. That‟s why they are among the very successful brand of today.
A growing relationship with customer and customer retention: Now days a good relation with the customer is very important for organization. Sale is totally depending on the relation with the customers. Customer's retention is also a major aspect for growing business. It means keep the old customer and try to make new customer.
Britannia‟s customer relationship management is very strong which is the one of the major cause of selling of their product continuously. Focus on competitors activity: Every organization should must be careful about it's competitors step, because they can disturb the growing sales process of the organization. Continuous watching over competitor‟s strategies and development help Britannia a lot. A growing emphasis on global thinking and local marketing planning: Companies are increasing by pursuing market beyond their borders. When they enter other countries they must follow the tradition of that country and also they make plan for local market that which type of product has more demand and how can it run in the market. A growing emphasis on global thinking and local marketing planning: Companies are increasing by pursuing market beyond their borders. When they enter other countries they must follow the tradition of that country and also they make plan for local market that which type of product has more demand and how can it run in the market. For Britannia different variation in their product depending over various locations and the economic status of the people is being very much helpful for the company.
Promotional Strategy Under the market strategy promotional idea is very important. Organization provides some schemes or rebates to retailers or consumers. They make advertisement according to convenient of the people and the feature of the product. Sometimes Britannia comers to market with new offerings and of course with cost benefits to the customers. Giving discounts over bulk purchase also comes under this strategy.
Need for Market Segmentation: As the companies cannot go to all sectors and to all customers with different needs and demands of customer. So it is very important for any company to identify various markets segments. In this context the segmentation of market of Britannia is analyzed here.
Demographic Segmentation:- Looking at the age, gender, family size, income and occupation of various people, Britannia also have segmented there market like: Depending on Age: - Britannia Fruit Rollz is designed basically for the children. Good Day, Cream Creaker, Marry are basically for the more matured people. Little Hearts are designed are basically for the younger generation people. Income: - Good Day, Milk Cream is basically for the people who belongs to a little bit of higher income level. Britannia Marie, Suji tost are basically designed for then who belongs to a little lower level income group. Different products with packages of Rs. 5, Rs. 10 are also made keeping the income status of the people.
Behavioral Segmentation:Some time people‟s behavior changes with their psychology and mood also. Keeping this into consideration Britannia also has segmented there market. Benefits: - At tea time we require also some snacks. Keeping this into consideration Britannia has specified products like Cream Creaker, Suji tost. User Status: - People in dating or love often prefers for some time pass with some food. Britannia‟s Salted Time pass and Little Hearts are the perfect solution for that. The Little Hearts biscuit are extremely dedicated for the people in love as these biscuits are very little in size, shapes like a heart and perfectly red color.
Usage Rate: - Britannia has also segmented their market depending on the customer usage rate. Marie Gold is a product which is for High Usage Rate Customers.
Niche Segmentation: - It includes the further segmentation of the segments of the original market. Britannia Slice Cakes and Britannia good day are designed for the people who actually also wants some food characteristics in a biscuit. Different cream biscuits are also made for the people who love to have a biscuit with cream.
Being a very much consumer product Britannia have different target markets with different products. This can be discussed with different products and markets. Being a very familiar consumer product they basically use a full market coverage strategy with different products. Britannia Tiger: - With a lower price and smaller packs of this product Britania basically targets for people with relatively lower income group who are concerned about the product quality as well as with the pricing of the product. With this product Britannia also captured a huge proportion of rural market of India. Britannia 50-50:- Pricing with a bit higher than Tiger it actually uses the concept of namkeen biscuit or in other world snaks. People who like to have shaks with tea or anything else Britannia also targets them with this product. Britannia Marie Gold:- With a bigger packaging size it targets for the families having more no. of people. As the requirement is high so they designed these packets with larger no. of biscuits. Also gives a family like moderate taste. Britannia Good Day: - Actually uses the concept of butter biscuits. It actually targets for the people with a bit of higher income group. Who wishes to buy biscuits not always for food requirement but for bit of luxuriousness. Treat Fruit Rollz: - It actually targets the children and uses a concept of celebration. As at the time of celebrations among the children biscuit is an important issue. It targets the occasion as well as the minor group of their potential market.
With different various products Britannia do not only positions as a biscuit manufacturer. But they also give very much importance over food quality. They basically position themselves as a manufacturer of food with delivering higher quality and cost benefits values to their customers. Their packaging of the products also defines themselves as a company for every consumer with different pricing options. This strategy helps the company to capture a huge market share.
Research and Development:After testing, the new product manager must develop a preliminary marketing strategy plan for introducing the new product in to the market. The plan consists of three parts. The first part describes the target market's size, structure and behavior. The second part outlines the planned price, distribution strategy and marketing budget for the first year. The third part of the development describes the long run sales and profit goals and marketing mix strategy over time.
The Marketing Mix
For various products of Britannia there are various marketing mixes. Here we have taken a single product of Britannia Biscuits and analyzed the marketing mix strategy for this particular product.
Marketing Mix (4 Ps) for Britannia Marie Gold: -
Absolutely good in quality for customer satisfaction. Designed shape. in round
Rs. 21 for a 370 gm of pack. (Now 50 gm. Extra). Absolutely affordable price within the range of normal customer. Discounts not in the sense of direct price but in the sense of extra 50 gm.
Advertising with a brand new look of Marie Gold attractive pack. Advertising with a massage of “Eat Healthy, Think Better”. Sales promotion with a tag line “Ab Tea Time Badal Gaya”. Creating close long term relationship with customers with the concept of tea. Going to various regions of country with strong distribution channel. Cover almost the whole consumer market for biscuits. Depending over a very common price reaches to every individual customer from remote village to any metro. Huge stock of inventory to maintain a proper supply in the market. With the help of good transportation the market demand is always fulfilled.
Good taste at the tea time. Britannia‟s brand. oldest
Packaged in nice single & triple row packs (for different requirement) with attractive coloring. Sized in absolute round shape for a normal cup and plate of tea.
Generally all organizations have competitors in the market. A particular organization always comprises with other same business and according to market share we clarify the brand of product is giving more challenge to my product. We found many products which can be compared with Britannia Biscuit. As a conclusion we found that particularly in the area we surveyed Britannia is really doing well and its performance is on a good level. During the field work and after intensive study it was found that main competitor of BRITANNIA is BIAKFARM Biscuits.
In our provided area the share of the market is as follows. BRITANNIA BISKFARM PRIYAGOLD PARLE-G PURE FOOD OTHERS 33% 25% 13% 14% 8% 7%
When we compared with other businesses then we follow the quality, price, distribution system, promotional strategy etc. of the competitors Britannia in this area is doing well.
Market Potential: -
Market potential of the BRITANNIA is much positive in competitive era and will sure cover the maximum market share of biscuit product. Potentiality of any product depends upon the futuristic performance of the product. it depends that how much retailers have potentiality to be permanent seller of BRITANNIA.
For great potentiality it is necessary to improve those factors which are going to effect retailers. In my study I found some factors which can help to cover great potentiality.
These factors are following: Scheme delivery should in perfect determining time. Some places distributors not able to cover his particular area. That should be improved. Scheme facility should be regular as much as possible. Small pack also should be in the market. Always collect the views of retailers. It gives psychological effect on the retailers about careness by manufacturing company.
These factors are very important for the organization. If company is able to improve these all factors then definitely its market share will more increase. Retailers will take more interest to sell Britannia biscuit and customer will also enjoy for it. So potentiality is very high to Britannia biscuit in positive direction.
SWOT ANALYSIS OF BRITANNIA: Strength Fulfill one of our Basic Weakness Decreases nutritional value Increases the product in all Industry and technology cost of food
requires high investment Regular usage of processed food can cause alteration in health
Requirement among Air , Water , Food, Shelter Widely accepted
Generations Easily available in various forms Provide good Instant Remedy for hunger in the form of
readymade food Preserves the non seasonal food and makes it available all throughout the year Opportunities Increase economy of India Generate opportunity Good quality of Goods Provide competition to foreign companies Improve living standard Provide goods to nation at cheaper rate Inflow of foreign reserve and funds for the govt.(taxes) employment Many Threats companies are result
oriented Increase in pollution Sometimes provide poor quality of product for more profit Lack of technology Unable to utilize all the
After going thick on the thing, now time is to make a complete picture. While making a product a SKU (Stock Keeping Unit) of the shop retailers think about the GMROI (Gross Margin Return On Investment) and they promote the brand which provide them highest. They expect return in the form of profit margin, company schemes, window display and references of the shop. Among these, company schemes make the differences and are the highest source of motivation after profit margin. Retailing demands a constant push from the company. Marketer needs to use advertising and brand building strategies to address the discerning buyers and retail push to in different buyers. The manufacturer should understand consumer behavior because retailers can't help quality and price. It is only up to dealers said it is demand they sell Britannia 42% agree that at retail shop it is brand popularity, which determine the purchase of biscuit. There is a greater need to understand the retailer behavior considering them as a team working for the company may help them to be attached to the company. There should be feeling of belonging to the company in inner of the retailers. Setting values club for retailers so that they may exchange views with the company and help in understanding consumer behavior.
Annexure1. Product Name
Britannia Khin Britannia Marie Britannia Cream Creaker (Zira) Britannia Cream Creaker (Salted) Britannia Good Day (Kaju) Britannia Good Day (Butter) Britannia Milk Bikkis Britannia Milk Cream Britannia Nice (With Sugar) Britannia Burbon Cream Britannia Orange Cream Britannia Suji Tost Britannia Slice Cake Britannia Time Pass (Salted) Britannia Tiger Cream Chocolate Strawberry Butterscotch Britannia Zim Zam
Rs. 22 Rs. 21 24 20 22 21 5,10,15 23 10 17 5,12,21 17.50 19 13 19 10,14.50 5,10 5,10 5,10 5,10 5,23.00
370 370 275 275 200 300 200 100 200 200 225 75 150
50 gm. Free
Available in Rs.6 100gm. Pack. Rs.5 pack available.
BIBLIOGRAPHY: BOOKS Author Title Internet www.britannia.co.in : Philip Kotler : Marketing Management.