SDM Group Project

Industry: FMCG

Company: Hindustan Unilever Limited

Submitted to: Prof. Manoj Motiani

Submitted by: Group 06, Section BCDE

Group Members:
Abhay Singh| 2018IPM001
Anandmayee Tripathy| 2021PGP040
Dhriti Srivastava| 2021PGP110
Gayatri Nipankar| 2021PGP225
Isha Garg| 2018IPM045
 TABLE OF CONTENTS

1. Industry Analysis
2. Distribution and Sales Study of HUL
3. Existing Sales Management of the Company and Functioning
4. Comparing with Competitors
5. Suggestions for Improving the Channel Management
6. References
Industry Analysis

Consumer packaged goods (CPG) refers to fast moving consumer goods (FMCG). All
commodities (excluding groceries and pulses) that individuals buy on a regular basis fall under
this category. Toilet soaps, detergents, shampoos, toothpaste, shaving products, shoe polish,
packaged meals, and domestic accessories are among the most prevalent items on the list, which
also includes certain technology goods. These things are designed to be used on a daily basis and
have a high return on investment. With a total market size of more than US$ 13.1 billion, the
FMCG sector in India is the fourth largest in the country. It is characterized by a well-established
distribution network, intense competition between the organized and unorganized divisions, and
low operational costs. India has a competitive edge because of the availability of critical raw
resources, lower labor costs, and a presence across the whole value chain. From US$ 11.6 billion
in 2003 to US$ 33.4 billion in 2015, the FMCG market is expected to triple. Most product
categories, such as jams, toothpaste, skin care, and hair wash, have low penetration and per
capita use in India, indicating untapped market potential. The growing Indian population,
particularly in the middle and rural segments, provides a chance for branded product
manufacturers to convert customers to their products. Consumer 'upgrading' in older product
categories is also anticipated to drive growth. With 200 million people predicted to switch to
processed and packaged foods by 2010, India's food processing industry will require roughly
US$ 28 billion in investment.
Consumer goods are items bought for everyday use by the typical person. Durable products,
nondurable items, and services are the three categories in which they are classified. Nondurable
items have a shelf life of less than one year, whereas durable goods have a shelf life of three
years or more. The greatest category of consumer goods is fast-moving consumer goods. They
are classified as non durable because they are eaten quickly and have a limited shelf life.

Fast-moving consumer goods (FMCG) are used by almost everyone on a daily basis. They are
the purchases we make at the produce stand, grocery shop, supermarket, and warehouse outlet on
a modest scale. Milk, gum, fruit and vegetables, toilet paper, soda, alcohol, and over-the-counter
medications such as aspirin are all examples.

FMCG purchases account for more than half of all consumer expenditure, yet they are often low-
involvement. Consumers are more likely to brag about a long-lasting item like a new automobile
or a well-designed smartphone than about a $2.50 energy drink they bought at the convenience
store.

The fast-moving consumer goods (FMCG) industry is India's fourth-largest, with household and
personal care products accounting for half of all FMCG sales. The sector's main growth drivers
have been increased awareness, easier access, and changing lifestyles. The urban segment (which
accounts for about 55 percent of the total income generated by the FMCG sector in India) is the
most important contributor to the overall revenue earned by the sector. However, in recent years,
rural India's FMCG market has evolved at a higher pace than urban India's. Semi-urban and rural
areas are expanding rapidly, with FMCG products accounting for half of all rural spending.

FMCG Industry Specifications

Because of the high turnover rate of fast-moving consumer products, the market is not only
enormous, but also tremendously competitive. Tyson Foods, Coca-Cola, Unilever, Procter &
Gamble, Nestlé, PepsiCo, and Danone are among the world's major firms competing for market
share in this area. To persuade and attract customers to acquire their items, companies like these
must concentrate their efforts on marketing fast-moving consumer goods.

As a result, packing is a critical component of the manufacturing process. To enhance efficiency,

logistics and distribution systems often need secondary and tertiary packing. The unit pack, often
known as the main packaging, is essential for product protection and shelf life, as well as
providing customers with information and sales incentives.

FMCGs are a solid source of income since they are sold in huge numbers. The poor profit
margins on individual sales are also mitigated by the enormous number of transactions.

FMCG companies are usually low-growth investments, but they are safe bets with predictable
margins, consistent returns, and regular dividends.

Key Products

Durable goods, nondurable products, and services are the three basic kinds of consumer goods.
Furniture and automobiles are examples of durable commodities that endure at least three years.
Economists often monitor durable goods consumption to gauge the economy's health.
Nondurable products have a shelf life of less than a year and are eaten quickly. This category
includes fast-moving consumer items. Finally, intangible services or goods, such as haircuts or
vehicle washes, are included in services. ally offer sluggish growth but are safe investments with
predictable margins, consistent profits, and consistent dividends.
Key Players
Market Analysis

With an estimated market size of Rs. 2 trillion, FMCG is India's fourth largest industry,
accounting for about 2.5 percent of the country's GDP. In the last five years, it has risen at a
CAGR of 17.3 percent. Food and personal care goods account for two-thirds of the sector's
revenue. In 2011, the rural-urban market split was 33.5 percent for rural markets and 66.5
percent for urban markets. Rural and urban markets now account for 50% to 50% of the FMCG
market, indicating a trend away from urban areas. Despite the availability of internet sales
channels, grocers remain the most favored sales channel for FMCG.

The Indian retail sector is predicted to rise to US$ 1.1 trillion by 2020, up from US$ 840 billion
in 2017, with contemporary commerce expected to increase at 20-25 percent per year, boosting
FMCG income. From US$ 110 billion in 2020 to US$ 220 billion in 2025, India's FMCG
industry is predicted to grow at a CAGR of 14.9 percent. The Indian FMCG sector expanded
9.4% in the January-March quarter of 2021, according to Nielsen, owing to consumption-driven
growth and value expansion from higher product pricing, notably for basics. In the same quarter,
the rural market grew by 14.6 percent, while urban markets grew for the first time in two
quarters. During the period 2015-20, final consumption expenditure climbed at a CAGR of 5.2
percent. According to Fitch Solutions, real household expenditure is expected to grow 9.1% YoY
in 2021 after dropping >9.3% in 2020 owing to the pandemic's economic effect. According to
CRISIL Ratings, revenue growth in the FMCG industry would double from 5-6 percent in FY21
to 10-12 percent in FY22. Price rises across product categories, as well as volume growth and a
comeback in demand for discretionary products, are driving growth. Despite lockdowns in
several sections of the nation, the FMCG industry rose by 36.9% in the April-June quarter of
2021. In the September quarter, the number of households buying on the modern-trade channel
increased by 29.15 percent year over year, while shopping volume increased by 19.2 percent.

Due to several government programmes (such as packaged staples and hygiene categories); high
agricultural production, reverse migration, and a decreased unemployment rate, rural India saw a
double-digit growth rebound of 10.6 percent in the third quarter of FY20. The FMCG market
will be driven by an increase in rural consumption. By 2025, the Indian processed food industry
is expected to reach US$ 470 billion, up from US$ 263 billion in 2019-20.

FMCG behemoths like Johnson & Johnson, Himalaya, Hindustan Unilever, ITC, Lakmé, and
others (which have controlled the Indian market for decades) are now fighting against D2C start-
ups like Mamaearth, The Moms Co., Bey Bee, Azah, Nua, and Pee Safe. Market leaders like
Revlon and Lotus required 20 years to reach the Rs. 100 crore (US$ 13.4 million) sales
threshold, whilst newer D2C companies like Mamaearth and Sugar took four and eight years,
respectively. In 2020, companies with dedicated websites saw an 88 percent increase in customer
demand year over year. Since then, more firms have started to follow the D2C model, and India
today has over 800 D2C brands, with a market potential of US$ 101 billion by 2025.

Source: IBEF
Recent Investments

The government has approved 100 percent FDI in food processing and single-brand retail, as
well as 51 percent FDI in multi-brand retail. This will boost FMCG brand employment, supply
chain visibility, and high visibility throughout organized retail marketplaces, boosting consumer
spending and driving new product releases. From April 2000 to June 2021, the industry received
robust FDI inflows of US$ 18.59 billion.

The following are some recent advancements in the FMCG sector:

● Tata Consumer Products (TCPL) inked formal agreements in November 2021 to buy Tata
Industries Limited's 100% ownership stake in Tata SmartFoods Limited (TSFL) for Rs.
395 crore (US$ 53.13 million) in cash. This move was in accordance with TCPL's long-
term strategy of diversifying into value-added sectors.
● Unilever Plc agreed to sell its worldwide tea business for EUR 4.5 billion (US$ 5.1
billion) to CVC Capital Partners in November 2021. Ekaterra, the company being sold,
owns 34 tea brands, including Lipton, PG Tips, Pukka Herbs, and TAZO.
● Procter & Gamble announced a Rs. 500 crore (US$ 66.8 million) investment in rural
India in October 2021.
● PepsiCo's Rs. 814 crore (US$ 109.56 million) Kosi Kalan foods factory in Mathura, Uttar
Pradesh, opened in September 2021, making it the company's biggest greenfield
production investment in India.
● Vahdam India, an Indian tea company, received Rs. 174 crore (US$ 24 million) in a
Series D financing headed by IIFL AMC's Private Equity Fund in September 2021.
● Adani Wilmar, an Equal joint venture between Adani Group and Wilmar of Singapore,
filed for an initial public offering (IPO) in August to fund up to Rs. 4,500 crore (US$
607.13 million) for growth.
● Marico Ltd., Hindustan Unilever Ltd., Dabur India, ITC, and Godrej Consumer Products
Ltd.'s e-commerce sales accounted for 8%, 6%, 5%, 5%, and 4% of total FMCG sales in
the fourth quarter of FY21, respectively.
● Emami Ltd. expanded its investment in Helios Lifestyle, which provides male grooming
goods under the The Man Company name, from 15% to 46% in July 2021, as part of its
plan to capitalize on expanding online prospects.
● Apart from Tata Coffee 1868 and Sonnets, Tata Consumer Products Ltd. debuted 'Eight
O'Clock, America's Original Gourmet Coffee,' under D2C in July 2021 as part of its plan
to improve its D2C approach for select coffee brands and their individual websites. As
these three coffee brands stabilize, the business wants to introduce additional D2C
brands.
● HUL debuted the Smart Fill machine, an in-store vending machine format for its home
care goods, in July 2021, with the goal of reusing and recycling plastic. By refilling
 goods from its brands such as Surf Excel, Comfort, and Vim, users would be able to
reuse plastic bottles.
● According to Accenture India, e-commerce has already reached 7-8 percent for some of
the country's major FMCG firms as of June 2021.
● Dabur India stated in June 2021 that it will spend Rs. 550 crore (US$ 75.6 million) in a
new facility in Madhya Pradesh to manufacture food goods, ayurvedic medicines, and
health supplements.
● Tata Digital Ltd., a wholly owned subsidiary of Tata Sons, purchased a 64.3 percent
share in supermarket food supply, BigBasket's business-to-business arm, in May 2021, as
part of the Tata Group's ambition to create a digital consumer ecosystem. The sale is
valued $1.8-2 billion, according to the Economic Times.
● In May 2021, Nepal-based CG Corp Global, which is well known for its renowned Wai
Wai noodles, announced plans to spend Rs. 200 crore (27.42 million) in West Bengal and
Uttar Pradesh to build two new production factories.

Government Initiatives
The following are some of the government's significant measures to encourage the FMCG
industry in India:

● Flipkart and the Ministry of Rural Development of the Government of India (MoRD)
signed a Memorandum of Understanding in November 2021 for their ambitious
Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM)
programme to empower local businesses and self-help groups (SHGs) by bringing them
into the e-commerce fold.
● The Union Cabinet authorized the production-linked incentive (PLI) plan in ten important
industries (including electronics and white products) on November 11, 2020, in order to
improve India's manufacturing capabilities, exports, and promote the 'Atma Nirbhar
Bharat' agenda.
● Increased pricing for farmers will result from developments in the packaged food market,
as well as a reduction in waste levels. Unique product lines with significant development
potential and the ability to produce medium- to large-scale employment have been
formed to give assistance under the PLI plan.
● The Indian government has allowed 100 percent foreign direct investment (FDI) in cash
and carry and single-brand retail, as well as 51 percent FDI in multi-brand retail.
● The Goods and Services Tax (GST) benefits the FMCG business since numerous FMCG
items, including as soap, toothpaste, and hair oil, are now taxed at 18 percent instead of
the previous rate of 23-24 percent. In addition, the GST rates on food and hygiene goods
have been decreased to 0-5 percent and 12-18 percent, respectively.

Porter’s Five Forces of the Indian FMCG Industry

Road Ahead
 ● Companies attempting to access the hinterlands are anticipated to rely heavily on online
portals. The Internet has made a significant contribution, allowing for a more cost-
effective and easy method of expanding a company's reach. By 2025, India's internet
users are expected to exceed 1 billion. By 2020, it is expected that 40% of all FMCG
consumption in India would be done online. From US$ 20 billion in 2017, the online
FMCG industry is expected to grow to US$ 45 billion in 2020.
● The expanding young population, particularly in metropolitan areas, is another important
element driving demand for culinary services in India. Due to time restrictions, India's
youthful customers, who make up the bulk of the workforce, seldom have time to cook.
● The unorganized market share in the FMCG industry declines, the organized sector is
likely to expand faster as brand awareness rises, aided by the expansion of contemporary
retail.
● Consumption in rural areas has risen, owing to a mix of rising income and greater
ambition levels. In rural India, there is a growing desire for branded goods.
● As many big firms redesign their operations into larger logistics and warehouses, GST is
projected to convert logistics in the FMCG industry into a contemporary and efficient
model.
● The government has created a new Consumer Protection Bill with a focus on establishing
a comprehensive framework to guarantee that consumers get justice in a simple, quick,
accessible, inexpensive, and timely manner.

Distribution and Sales Study of HUL

HUL sells FMCG products under 20 categories in India. These categories include soaps,
detergents, cosmetics, packaged food products, tea etc. HUL has been successful in
building a strong distribution network over the last century.

History: HUL had a Wholesaler Network as the major model for its distribution. This
network consisted of wholesalers and large retailers placing orders which were grouped
by the company salesman for easy distribution. HUL moved from this model to the
‘Registered Wholesaler’ model. The company then started using the ‘Redistribution
stockist’ model where the stockist had warehouse facilities to store the inventory and
worked in coordination with HUL’s salesmen to ensure efficiency. HUL also focussed on
building good relationships in the supermarket and hypermarkets as these were modern
trade channels.

HUL’s Project Shakti (year 2001) enabled them to sell their brands with the help of
women entrepreneurs in remote and rural areas. With Project Shakti, HUL realized that
the buying pattern of the rural customer is changing. The transport network had also
significantly improved. All these factors made them realize that there was no need to
build a rural specific portfolio of products. HUL simply increased the SKUs sent to rural
wholesalers. The company used ‘geo-tagging’ to understand how they could reach the
distributors in far off villages.

Currently HUL follows a different approach for the urban and rural markets. HUL
partners with distributors in urban locations to assist in capital raising and maintaining
their business. Most urban markets are witnessing saturation, hence keeping up with the
efficiency is more important than just keeping on expanding. Urban distributors’ stock
levels are kept at 1-2 days only. Their markup is 2-2.5% To deal with the saturation in
urban markets, HUL has reduced the number of distributors per city, for example
Mumbai now has 5 distributors instead of the 100 it had previously.

In the rural markets, distributors still have a 5% markup and expanding is the key method
of growing in the market. HUL has 2 weeks of stock with shopkeepers and one week of
inventory. Distributors sell the goods at 3% markup to the shops, just like in the urban
markets.

Use of Technology: HUL launched Humarashop, an e-commerce portal with information

on the mom-and-pop stores of a particular area. It connected shoppers and local retailers.
Each shop had a separate page.
 Humarashop - the power of hyperlocal

Distribution model for Humarashop

HUL launched the Shikhar app in 2017 using which the shopkeepers could place direct
orders with HUL, eliminating the distributors or salespeople. Using data analysis, Shikhar
app was able to give recommendations and insights to the shopkeepers on the different
products they should stock to improve their sales. Shikhar had reached 25% of the Indian
towns by 2020 before the COVID-19 pandemic. The pandemic and its restrictions
enabled more usage of the app. HUL also partnered with SBI to give credit access to
dealers and retailers of HUL products. With this it empowered the channel partners to
grow their business which in turn will drive sales for the company.
 Shikhar App Performance as of 2019

Shikhar app is an excellent retailer engagement tool. It enables customer engagement,

retailer self-service and has a user friendly interface which enables convenience. The
company also gets valuable insights from the orders that these retailers place and their
pattern.
Existing Sales Management of the Company and Functioning
Salesforce Structure

HUL has a salesforce structure as shown below:

A General Manager reports to the National Sales Manager. The General Manager has
Regional Sales Managers depending on the product segments. Each Regional Sales
Manager has 3-4 Area Sales Managers under his purview, who in turn have 5 Sales
Officers each under them. Each Sales Officer further supervises two Territory Sales In-
Charge each.

Channel Design

With the aid of a carrying and forwarding agent, the commodities produced in each of
HUL's 45 (approx) factories are delivered to a depot (C&FA). Almost every state in the
country has a depot for the corporation. The C&FA is a third party that receives a service
charge for stock and product delivery. A redistribution stockist (RS) in each town
purchases items from the C&FA and sells them to retail establishments. However, HUL
quickly discovered that this sales channel was not sustainable for smaller towns and
villages and that appointing one stockist solely to each city was too expensive.
Furthermore, the retail revolution is altering people's shopping habits and patterns. As a
result, HUL, being the behemoth it is, restructured its sales and distribution route,
resulting in a "diamond model" system. The self-service retail outlets, which account for
10% of the overall FMCG market, are at the top of the diamond. The profit centre centred
on the diamond's middle section represents the sales team. Rural marketing and
distribution, which accounts for 20% of the business, is at the bottom of the pyramid. The
corporation intends to minimise the number of RS (Redistribution Stockists) in small
towns due to the revised distribution strategy.
The current channel flow mechanism followed by HUL is shown below:

Distribution network and territory allocation

The distribution network of HUL is as shown below:

The regions are separated into districts, with each district having its own territory. A
typical salesperson's best strategy is to visit 20 retail stores every day within each area.
However, the number of SKUs carried/orders placed is 3-4 times the amount of SKUs
held by any rival.
Comparing with Competitor

HUL
Hindustan Unilever Limited is one of the leading consumer goods companies in India. It
provides a wide range of consumer products that are categorized under three broad
divisions – Home Care, Beauty & Personal Care and Foods & refreshments. These
divisions include 14 different product categories and overall 44+ brands in them. With
the merger of GSK Consumer Healthcare and HUL, it has expanded its product portfolio
to contain brands like Horlicks & Boost. It has an expansive network of 1150 suppliers
and 4500 distributors that make HUL products available across 8 million outlets in India.

Home Care: It contains product categories like fabric solutions, home & hygiene and life
essentials. Surf Excel, Comfort, Domex, Cif etc are some of the popular brands that
belong to the home care division. The contribution of this division to revenue has
remained stable around 30-35%. There was an increasing trend until the pandemic
which resulted in a 5% drop in the revenue share. The company explained this drop with
the reduced requirements for fabric related products due to reduced mobility and drop
in income levels in the lockdown period.

Beauty and Personal Care: This segment consists of product categories like skin
cleansing, hair & skin care, oral care, deodorants, cosmetics etc. Some popular brands of
this segment are Dove, Lux, Lakmé, Vaseline, Tresemmé, CloseUp etc. This division is
responsible for almost 45% of the total revenue. There is a slight decreasing trend in this
number with a massive 6% drop in the pandemic year. Skin cleansing and hygiene
products witnessed a surge while other categories like skin care, cosmetics and skin
deodorants declined sharply. The company continues to extend this division with
acquisition of female hygiene brand VWash and innovations in existing product lines.
With the advent of e-commerce platforms, HUL has introduced new-age channels for
premium segment of this division.
Foods and Refreshment: Product categories such as tea, coffee, health drinks, foods, ice
creams & frozen foods fall under this division. It contains household brands like Brooke
Bond, Taj Mahal, Bru, Kwality Walls, Cornetto, Knorr, Kissan etc. The contribution to
total revenue for this segment is the lowest and has remained under 20% until 2019-20.
However, the pandemic caused a 10% increase in the same with 29% revenue share in
2020-21. The company expanded its range of in-home products including mayonnaise,
peanut butter, coffee etc. On the other hand, out-of-home businesses like ice cream
suffered greatly. With the merger of HUL and GSK CH, it subsumed brands like Horlicks
and Boost in its portfolio.

Segment share by revenue

100 2 1 1 2 2
90 19 19 18 17
29
80
70
60 45 46 48
47
50 39
40
30
20 35 34
30 33 33
10
0
2020-21 2019-20 2018-19 2017-18 2016-17

Home Care Beauty & personal care Foods & refreshment Others

At the end of FY 2020-21, HUL reported operating revenue of Rs.45,996 crores. It

witnessed an annual growth of 18.59% in revenue during the pandemic year which is
significantly higher than its 7-year CAGR of 4.75%. The Chairman attributes this success
to the company's quick response to the changing environment by “launching
innovations, building awareness through communication, shifting to newer ways of
reaching consumers and connecting with communities through purpose-led initiatives”.
 Growth in revenue
50000
45000 45996
40000
38785 38224
35000
34525
30000 31890 31061 30805.62
25000 28019.13
25810.21
20000 22116.37
15000
10000
5000
0
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012

ITC Limited

ITC Limited is one of the topmost Indian conglomerate companies with a wide range of
businesses. It operates in FMCG, packaging, paperboards & paper, IT, hotels and
agriculture-based business. Alongside this diverse portfolio, the company has multiple
subsidiaries and numerous joint ventures. The FMCG domain of the company serves as a
major competitor to market leader HUL. Under the FMCG business, the company
features a wide portfolio of products comprising of staple foods, spices, health &
wellness products, fruit & dairy products, convenience foods, snacks, health & hygiene
products, cigars and cigarettes, home care, skin care, personal wash, fragrances,
education aids and devotional needs. It houses 25 Mother brands in the likes of
Sunfeast, Aashirvaad, Bingo, Yippee, Vivel, Engage, Savlon, Classmate, Paperkraft,
Fiama, AIM, Mangaldeep and others.
In the pandemic year of 2020-21, ITC Limited reported 14.67% growth in revenue. This is
more than twice the 7-year CAGR of 6.77%. Nonetheless, the FMCG segment has
presented steady growth in terms of revenue as well as EBITDA.
The FMCG segment faced a balanced impact of the pandemic as at-home product lines
such as Staples, Convenience foods, Health & hygiene products witnessed an increased
demand while out-of-home products like Cigarettes, Education aids, Lifestyle products
declined sharply. Despite this imbalance, the segment registered overall growth. To
counter this uneven impact, ITC engaged with alternative channel partners like Zomato,
Swiggy, Dunzo and launched own platforms like ‘ITC e-Store’ and ‘ITC Store on Wheels’.
It also completed the acquisition of Sunrise Foods Pvt. Ltd. In July 2020. The company
believes that this growth is driven by “enhanced scale, product mix enrichment, reduced
distance-to-market and other strategic cost management initiatives, after absorbing the
impact of sustained investment in brand building and gestation costs of new categories
and facilities”. The company managed to leverage the changes in market due to the
pandemic due to their prompt action and agility. Post Covid, it aims to create long-term
value for its consumers by expanding their product portfolio through acquisitions, joint
ventures and collaborative growth.

HUL and ITC Limited are two market leading companies and major competitors to each
other. They have managed to capture huge parts of the market despite major
differences in their structure, distribution channels and product portfolio. Both
companies were similarly impacted by the pandemic and used similar strategies to
deliver different products and initiatives for their consumers.
1. With the changing buying preferences of consumer, the company must match its
efforts accordingly. With increased focus on e-commerce and modern trade
channels which are growing fast, they can meet customer demands. Building
online shelves on platforms like Flipkart and Amazon and improving
communication at point of sale communication can drive increased sales from
these channels along with better engagement.
2. Having a differentiated portfolio curated for different channels so that they can
meet the different consumer demands through different channels as well as
reducing channel conflicts, especially for the e-commerce channel which can
create conflict with their existing channels. While the e-commerce provides
convenience, the modern trade channels provide invaluable touch and feel, and
therefore a multi-channel strategy is very important.
3. By using technology, both tried and tested and even future ones like blockchain,
the company can keep track of the whole value chain. By using blockchain and
embedded sensors, the company can keep track of the products at all levels. It
can record data on products such as what, how many, when and where. It can
then analyse this using big data and analytics to better understand the needs at
all levels of supply chains and accordingly require lower stock levels and
inventories, reducing its cost and improving efficiency.
4. With the preferences of customers that are ever changing, new trends cropping
up and new technologies emerging, the company must evolve its channel
strategy to stay competitive. Therefore, a dedicated team that focuses exclusively
on this task will allow it to be competitive and leverage the new trends and
technologies.
References
● https://www.forbesindia.com/printcontent/17462
● https://bloncampus.thehindubusinessline.com/case-studies/how-hul-enabled-small-
retailers-to-take-the-digital-leap/article34812609.ece
● HUL investor presentation - 02/08/2019
● Hindustan Unilever Limited Hul Marketing Essay - Free ....
https://essaylead.com/hindustan-unilever-limited-hul-marketing-essay/
● Sales and Distribution of HUL v/s RB - DocShare.tips
● Hindustan Unilever Limited. (2021). Annual report.
HUL.https://assets.unilever.com/files/92ui5egz/production/97c1bd314
7756e76c4babee8b6be953f271f66bb.pdf
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https://assets.unilever.com/files/92ui5egz/production/79f29c32efc371
79ba879973fac9596804fabd71.pdf
● Hindustan Unilever Limited. (2019). Annual report. HUL
● Hindustan Unilever Limited. (2018). Annual report. HUL
● Hindustan Unilever Limited. (2017). Annual report. HUL
● ITC Limited. (2021). Annual report. ITC Limited.
https://www.itcportal.com/about-itc/shareholder-value/annual-reports/itc-
annual-report-2021/pdf/ITC-Report-and-Accounts-2021.pdf
● https://www.theindianwire.com/business/top-10-fmcg-companies-in-india-
2021-316251/
●