GBMT 1011 Global Market Research

Submitted To Tarana Karim

Submitted by Harmanpreet Singh (200521507)
Harjot Kaur (200547007)

RESEARCH REPORT AND PRESENTATION

TABLE OF CONTENT
1. EXECUTIVE SUMMARY

2. ORGANIZATION PROFILE

3. BANNER

4. RESEARCH OBJECTIVES

5. DATA COLLECTION METHODS

6. DATA ANALYSIS

7. COST AND PRICING

8. RISK ANALYSIS

9. MITIGATION STRATEGIES
10. CONCLUSION

11. REFERENCES
EXECUTIVE SUMMARY

Frosty Delights is a vibrant and inventive frozen food company that is prepared to disrupt the

frozen food sector. Our dedication to excellence, superior quality, and convenience distinguishes

us as an industry leader. Frosty Delights' business model, aims, goods, target market, competitive

edge, and planned growth are all summarized in this executive summary.

We are providing high quality frozen food to cater the today’s modern world. Our primary

objective is to provide quality, innovation, convenience, and sustainability.

The market we are targeting is the busy professionals, youth, families, health enthusiasts,

students living by themselves.

Frosty delights stand out due to their quality assurance, innovative offerings, customer-centric

approach, and sustainability.

We are looking forward to expand our business in the coming year with coming partnerships

from the local and foreign partners also.

ORGANIZATION PROFILE

The name of our company is Frosty Delights. We will be serving healthy frozen food all over the
India. We are offering various frozen food items; vegetarian and non-vegetarian products.
We are also taking bulk orders. You can also find us on various online platforms. Our official
website is www.frostydelightsindia.com or you can contact us by email
frostydelightsindia@gmail.com
Objectives
1. To evaluate the market size and growth possibility of premium frozen meals, as well as
the current market trends and consumer preferences for frozen food in India. This
objective aims to understand the popularity of frozen meals in the Indian market and to
identify customer preferences for taste, convenience, health factors, and pricing.

2. To find possible rivals in the Indian frozen food sector and examine their products and
business models: The focus of this aim is on identifying and evaluating the current rivals
in the Indian frozen food industry, as well as their product offers, pricing schemes,
distribution systems, and promotional efforts.

3. To estimate the size of the premium frozen food market in India, including current sales
volume, growth rate, and anticipated future trends. This aim entails performing market
research to estimate the market size of the premium frozen food market in India.

4. To determine the most efficient distribution channels for reaching Indian customers,
including supermarkets, grocery shops, internet platforms, and foodservice providers.

5. To comprehend the distribution routes and partnerships necessary for successful market
entrance.

6. To assess consumer perceptions, expectations, and willingness to buy premium frozen

food products: To accomplish this goal, surveys and interviews with Indian consumers
are conducted to learn more about their perceptions, expectations, and purchasing
patterns regarding premium frozen food products.

7. To create marketing, branding, and positioning strategies that are effective in the Indian
market: This goal focuses on creating a precise positioning plan for Frosty Delights in the
Indian market, which will include branding components, packaging design, price
strategies, and marketing initiatives.
DATA COLLECTION METHOD
Various methods of data collection are used for research and other academic-related work. Data
collection is the process and the procedure by which gathering and measuring information is
done on the variables of interest of the study. The two main methods of data collection are the
qualitative and quantitative methods of data collection.

DATE
COLLECTION

QUANTITATIVE QUALITATIVE
METHOD METHOD

SURVEYS INERVIEWS OBSERVATION

Group of people
Questionnaires are are asked INTERVIEWS
provided to a group of question for the
people. in the following collection of
data collection we have data.
taken survey from
aroun 100 people. CASE STUDIES

Figure 1Above is the flowchart that depicts the various methods of data collection and how they
are divided.

Several questions were asked during the process of data collection. Some of these questions with
their responses are:

The questions that were asked during the survey were-

1. What do you think about frozen food?
a) They are very tasty
b) Average in tasty
c) Not tasty at all
d) None of the above
RESPONSE- Out of 100 people 60 people chose option (a), 24 chose option (b), and 10 chose
option (c), and 4 option (d).]

TASTINESS OF FROZEN FOOD SURVEY

REPRESENTATION

Very tasty Average Taste Not tasty None of the above

2. How would you rate the quality of food?

a) The quality was top-notch

b) The quality was average
c) Bad quality
d) None of the above
 QUALITY OF FROZEN FOOD SURVEY
REPRESENTATION (OUT OF 100 PEOPLE)

BEST QUALITY AVERAGE QUALITY BAD QUALITY NONE OF THE ABOVE

3. What according to you is a good variety of items?

a) The item that is fresh and also that is liked by children.

b) The item is junk food
c) The item is not fresh
d) It is harmful to children

4. Was the food tasty and flavorful?

a) Yes
b) Maybe
c) No
d) Not tried yet

5. What premium options or ingredients would you like us to offer?

a) Healthy ingredients
b) Not healthy
c) Not tried yet
d) Not willing to try.
6. Do you receive the same quality with every meal?
 a) Yes
b) no
7. Do we offer enough upscale or premium ingredients?
a) Yes
b) No
c) Not tried
8. Was the quality of the food excellent?
a) Yes
b) Maybe
c) No
d) Haven’t tried.
9. On a scale of 1-10, how good is the look, feel, and smell of our ingredients?
a) 8
b) 7
c) 9
d) 10
10. What did you like best about frozen food products?
a) they are very convenient to cook and also save a lot of time.
11. What did you dislike about our frozen food products?
a) They become a little smelly and soggy when outside for a while.
12. How many people liked the food from different regions?

A) North
B) South
C) East
D) West

13. How many people liked the food in this year 2023 as compared to
2022?
According to our survey, we seen that 70% people liked the frozen food this
year as compared to 2022.
DATA ANALYSIS
Data analysis can be defined as the process of systematically applying statistical and logical
techniques to describe and illustrate, condense and recap, and evaluate data. Analyse the
collected data using both quantitative and qualitative analysis techniques. The survey data will be
statistically analysed to find patterns, trends, and correlations. According to the data that has
been collected from surveys and interviews, it can be inferred that the scope of launching and
exporting frozen food products in the Indian market will be very much profitable for any
company. This is because of the increasing demand for the product and also its daily use not only
in restaurants or cafes but also in households.

REGION DEMAND

North 28%

South 22%

West 31%

East 19%

Figure 2PIE-CHART DEPICTING THE DEMAND OF FROZEN FOOD PRODUCTS IN

INDIAN MARKET REGION WISE

This pie chart is based on the survey that was conducted in India. As the survey covers a large
area at once, there was the collection of data on the needs of frozen food products in different
regions of India. In North India, the demand is the highest and in East India, it is the lowest.

YEAR INCREASE IN DEMAND

2018 30%
2019 35%
2020 40%
 2021 45.6%
2022 55%
2023 70.5%

Demand increase of frozen food product in

India

2023

2022

2021

2020

2019

2018

0% 10% 20% 30% 40% 50% 60% 70% 80%

Demand increase of frozen food product in India

Figure 3 Increase in frozen food products in Indian Market over the years
Figure 4

The following chart shows the growth of the Indian market in terms of frozen food products.
This chart is based on the capital growth in the frozen food market in India.
RISK OF TARGET AUDIENCE

FOOD SAFETY ISSUES: Describing the Indian consumers how their food safety and health is
important. Contamination or spoilage of ingredients could lead to customer health concerns and a
negative reputation

PROMOTING IT CORRECTLY: Indian consumers can make it difficult for a frozen food
company to establish because its not their cup of tea. Still, it will be challenging to reach as much
audience and promoting it in a right way for grabbing the attention and earning profits.

CHANGING CONSUMER PREFERENCE: Consumer preferences change real frequently; it

will be difficult to stay up on the changing taste of people.

COMPETITORS: Rivalries will make it difficult to stay in the competition and transporting
your product the vendors or warehouses. Because we are also targeting the wholesale vendors to
co-op and purchasing the product on a valued price.

TECHNOLOGICAL ISSUES TO REACH CONSUMERS: Technology is everything today.

Reaching your customer with speed. Technology can make it difficult as targeted audience may
be not that involved in internet and surfing, or using the online apps and websites.

LIMITATIONS

WEATHER CONSTRAINTS: In hot weather it’s hard to manage the temperature-controlled

storage space. It will be hard in the initial phase of the business to rent any additional spaces.

COMPLEX LOGISTIC SYSTEM: We should keep track on the process of transferring the
products to various distributors. Because it can increase the cost of product which some people
may not afford leading to less profits for the company.
FOOD SAFETY: Food safety is more important in frozen food as it has expiration date issues, if
the date expired our whole batch of product will be wasted. Another is maintaining the quality of
the food items.
COST AND PRICING

The cost price includes the expenses of ingredients, packaging, labor, transportation, and others.
The selling price will cover the profit margins and earns profit to the company.

Product Cost Price (per unit) Selling Price (per unit)

Frozen Pizza Rs. 50 Rs. 120

Chicken Nuggets Rs. 40 Rs. 100

Vegetable Samosa Rs. 20 Rs. 50

French Fries Rs. 15 Rs. 40

Frozen Burrito Rs. 60 Rs. 130

Fish Fillets Rs. 80 Rs. 180

Cheese Spring Rolls Rs. 25 Rs. 60

Frozen Vegetables Rs. 10 Rs. 30

Chicken Wings Rs. 70 Rs. 150

Frozen Burger Rs. 45 Rs. 110

Vegetable Samosa Rs. 12 Rs. 30

Paneer Pakoda Rs. 20 Rs. 50

Mixed Veg Pakoda Rs. 15 Rs. 40

Aloo Bonda Rs. 10 Rs. 25

Fish Fingers Rs. 40 Rs. 100

 Cheese Corn Balls Rs. 25 Rs. 60

RISK MITIGATION STRATEGIES

DIVERSIFY SUPPLIERS: We will establish relationships with multiple suppliers to reduce

dependency on a single source. This way, if one supplier faces challenges, they can still source
ingredients from others.

COMMUNICATION: Establish clear communication channels with suppliers and distributors.

Maintain safety stock to mitigate disruptions in ingredient supply.

QUALITY ASSURANCE: Implement rigorous quality control procedures throughout the supply chain
to identify and address any issues with ingredients promptly.

CUSTOMER FEEDBACK: Implement rigorous quality control procedures throughout the supply
chain to identify and address any issues with ingredients promptly.

TECHNOLOGY SOLUTIONS: Implement technology solutions for better inventory

management, demand forecasting, and production planning. Explore automation in packaging,
labeling, and other processes to improve efficiency.

CONCLUSION
Frosty Delights is poised to disrupt the frozen food sector by providing superior quality,
convenience, and innovation. We are well-positioned for considerable development and success
with a focus on delivering an excellent customer experience and a dedication to sustainability.

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