PREFACE Management is an on going process and most happening thing in life. This process even becomes important when we are talking about the real business operation. Reta Retail iler er’s ’s atti attitu tude de is one one of the the most most cruc crucia iall area areass of management. We have tried to inculc ulcate some of the frequently; asked question by retailer’s survey. Moreover, being a namkeen food industry, we had an exposure to the Retailers attitude of food processing industry. As we know, /retailers attitude by industry to industry. Each industry has its unique factor for Retailers attitude. Thus, we have tried out best to put our efforts in the form of this report. We welcome the suggestions and insights, which can enhance the quality of report.
ACKNOWLEDGEMENT I am really delighted to express few works for them who have have give given n a grea reat suppo upport rt in prep prepar ariing thi this repo report rt.. It is succ succes esssful. ful. Due Due to not not only only our our effor fforts ts but also also with with cocooperation of the Faculty of GEETANJALI COLLAGE who had an important hand with my efforts. I am highly thankful to out professor Mr. Nirav S. Joshi for provi providi ding ng info informa rmati tion on and and givi giving ng guid guidan ance ce on diff differ erent ent aspects in the best way in preparing report on Marketing and Prod Produc uctt Mix. Mix. All All the the data data give given n for for the the proj projec ect, t, was was just just because of his courtesy. Not only that but he also authorized use to contact him at any point of time. ,
Ultimately, I am really thankful to our director Mr. S. M. Jani and I had approached the Mr. Jay Sachdev from Balaji for the information related to the report and he provided all the colors of the report. Stickers, all the price list and I mean to say are his co-operation. I am really thankful to all those people who are directly or indirectly helped me to prepare the report more powerful. Last but not least I would like to thank my friends for extending great support through out the project. Date : Place:
Rajkot. Signature
(Dave Hetal
)
BRIEF HISTORY Generally, FMCG refers to consumer on-durable goods required for daily or frequent use. The sector touches every aspect of human life, from looks to hygiene to palate. palate. Perhaps, defining and industry whose scope is so vast is not easy. The food processing industry, due to spending habits of people, lifestyles, fast environment and others factors, Food industry have got more a thrust and this has brought about a change I the attitudes of Food industry I all over the world. The prospects in the Food industry are very bright both in India and abroad. The change in consumer behavior is a big boost to the Food industry. A country like India has strong potentials for food industry. Every nook comer of the country is diff differ eren entt in term termss of cult cultur uree and and cons consum umpt ptio ion n patt patter erns ns,, whi which has has to e explo xplore red d and and enjoy njoyeed. To cove coverr all all thes hese aspects, a user-friendly platform is required so that people can get their dreams, which cannot possible without such kind of platforms. On the other the changing environment such as life style of people, culture, trends and traditions, seasonality, festivals and changing habits of people has opened he new door of business, which required good health products/services, satisfaction, relationship and commitments by Food industry.
The Food Processing Industry has been identified as a thrust area for development. This industry is included in the priority lending. India is world’s second largest producer of food and has the potential to become number one in due course of time with sustained efforts. The growth potential of this sector is enormous and it is expected that the food production will double in the nest 10 years and the consumption of value added food products would grow grow at a fast fast pace pace.. This his grow growth th of the the Food Food Proc Proceessi ssing Industry will bring immense benefits to the economy, raising agricultural yields, meeting productivity, creating employment and and rai raising he stan standa dard rd of very very larg largee numb number er of peop people le throughout the county, especially in the rural areas.
COMPANY OVERVIEW Name of the unit
:-
Balaji Wafers Pvt. Ltd.
Plant addres
:-
Vad-Vajdi, Kalawad Road, Rajkot 360 003.
Telophone & Fax No. :-
+91-281-2783755/2387132. +91-281-2783747.
E-Mail Address
:-
[email protected]
Established year
:-
1982
Size of the organization:-
Medium Sale Idustry
Form of organization :-
Privet limited.
Bankers
:-
SBI co commercial Ba Bank.
Auditors
:-
DK Patel & Company
Weekly off
:-
Wednesday
Shift
:-
1
ORGANIZATION CHART
Chairman Mr. Bhikhubhai Virani Managing Director Mr. Chandubhai Virani
General Manager Mr. Hiteshbhai Virani
Finance Manger
Computer persons
Production Manager
Acc. staff
Marketing Manager
Sup.staff
Production in charge
Executive marketing
Workers
Labours
Sales executives
Others.
BRIEF INTRODUCTION TO THE MANAGEMENT This is a brief introduction of the managing persons of the Balaji Wafers Pvt. Ltd. these are the person who gave their greatest contribution towards company’s success,
1. 2. 3. 4. 5. 6. 7.
Mr. Bhikhubhai Virani Mr. Chandubhai Virani Mr. Kanubhai Virani Mr. Hiteshbhai Virani Mr. Nayanbhai Tank Mr. Parmarbhai Mr. Ketanbhai Patel
(Chairman) (Managing Director) (Technical Director) (General Manager) (Marketing Manager) (Production Manager) (Finance Manager)
COMPANY PROFILE
The Success Story of Balaji Wafers Pvt. Ltd. The The comp compan any y has has been been enga engage ged d in prod produc ucti tion on of delicious and nourishing food products, which have acclaimed, varni response of people of Gujarat. It produces Wafers and Namkeen in its unparalleled and latest fully automatic plant and having good quality for each product.
Brief History of the Company Most Most of the the growi rowing ng comp compan aniies have have a mode modesst beginning. The infancy of the company began twenty years ago ago in 1982 1982 with with the the effo effort rtss of Mr. Mr. Popa Popatb tbha hai’ i’ sons sons,, Mr. Mr. Megh Meghji jibh bhai ai,, Mr. Mr. Bhik Bhikhu hub bhai, hai, Mr. Mr. Chand handub ubha haii and Mr. Mr. Kanubhai the members of their family. The initial business was started in canteen of Astron Talkies. Then it acquired a small place with every limited investment wit indigenous frying method. method. Therea Thereafte fter, r, a semi-a semi-autom utomati aticc plant plant was establ establish ished ed with production capacity of 200 kg per hour. Finally, a fully automatic plant, the first of its kind in Gujarat, was established to offer excellent food products to food lovers of Gujarat.
Best Quality, Affordable Price It is the policy of the company to accept nothing less than a perfect. Besides, the company is determined to offer its its prod produc ucts ts in attr attrac acti tive ve and and weat weathe herr resi resist stan antt pack packin ing g at affordable prices to all classes of people in Gujarat.
It is an encouraging fact that the share of the company in the the ‘Bra ‘Brand nd Loya Loyalt lty’ y’ has has rema remain ined ed arou around nd 70% 70% to 80% 80% in Gujarat. The stalwarts behind the success story of the company are are Mr. Mr. Bhik Bhikhu hubh bhai ai (Cha (Chair irma man) n),, Mr. Mr. Chan Chandu dubh bhai ai Vira Virani ni (Manag (Managin ing g Dire Direct ctor or), ), and and Mr. Mr. Kanub Kanubha haii Vira Virani ni (Tec (Techn hnic ical al Director), who have also devised an ideal distribution channel to ensure the supply of fresh products in any comer of Gujarat with within in 48 hour hours. s. Effe Effect ctiv ivee dist distri ribu buti tion on is an impo import rtan antt as efficient production for the growth of the company.
Scaling high with Customer Satisfaction In the pas past two decades of life, fe, the Virani Family has woven most of its personal activities, aspirations and dreams with the fabric of the company. These sacrifices have enabled the company to crave its name in the industrial history of Gujarat as a unit with most sophisticated and latest plant.
Company’s Achievements The compan pany’s food ood pro produc ducts like potato wafers, wafers, banana wafers wafers and other salty products are prepared prepared in its its full fully y auto automa mati ticc plan plantt with with bact bacter eria ia-f -fre reee and and stri string ngen entt hygi hygien enic ic stan standa dard rds. s. The The use use of comp comput uter er syst system em ensu ensure ress uniform quality and obviates the necessity for touch of human hands. The production environments make it possible to make the products less oily and more nutritive.
Towards Better Future In order to meet the increasing demand of the products, the company has planned to install a sophisticated and ultra modern computerized computerized plant with production production capacity of 1000-1200 kg per hour on a end measuring 25000 to 30000 meters in the neighborhood of Rajkot.
The Stalwarts behind the Success of the Company
“If there is wall, there is way.” Mr. Mr. Bhi Bhikhub khubha haii has has prov proved ed thi this. His foresight, foresight, firm determinati determination, on, readiness readiness to accept challenges and power of quick and correct decision have contributed to his leadership qualities. He entered business at the age of 26 with his innate skill by his effort to extract the best from each worker at all levels, and amiable nature and soon found the pathway to succ uccess. His frie riendly approa roach has mult multip ipli lied ed the the zeal zeal of the the staf staff. f. His His He tamed his luck with bubbling dreams and
hard work to skill in marketing has added to the the stre streng ngth th of the the comp compan any y achi achiev evee them. He has won honors of all numbers of the staff.
Mr. Mr. Kanu Kanubh bhai ai Vira Virani ni has has deep deep inte intere rest st in elec electr tron onic ic and and mech mechan anic ical al field since his childhood. His accuracy, inte intere rest st and and unde unders rsta tand ndin ing g made made him him uni unique. que. He neve neverr comp compro romi misses with with quality of products. This is one of the majo majorr reaso easons ns for for the the uni uninter nterru rupt pted ed progress of the company.
Persistent research is an essential condi nditio tion for the developmen ment of every industry. The company cannot igno ignore re the the chan change ge in the the tren trends ds of customers. Mr. Keyur Virani, the Son of Mr. Bhikhubhai Virani,(the Chairman Chairman of the Company) joined the company in 1999-2000 at the age of 23 after studying instrumentation and control. He brought a remarkable change during last two years in the concept of packing, quality control management and machinery.
MARKETING FUNCTIONAL AREA
Concept : Marketing is about people marketers and customers and about he ways marketers try to create a preface fit between thems themsel elve vess and and the the cust custom omer ers. s. Its Its proce process ss of plan planni ning ng and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.
Marketing satisfies needs. Marketing is an exchange of value. It’s an art to sell your products and services. It’s process of planning and executing ideas.
The production orientation The consumer orientation The sales orientation
Market Segmentation : Market segmentation is the subdivision of market as based upon the modern marketing concept. It point out that there are several demand schedules. Each demand schedule represents a separate market consisting of a group of buyers with similar needs and characteristics of demand Balaji Wafers Pvt. Ltd., is having their Marketing Department to keep watch against the market situation and control the activity related to marketing.
The Marketing Manager control the marketing field related to product, product, price, promotion promotion and place. Marketing mana manage gerr work workss unde underr Gene Genera rall Mana Manage gerr of the the comp compan any. y. Marketing manager has has to carry work orks related to sales manager, marketing executives, sales executives and workers. Balaji Wafers Pvt. Ltd., have concentrate more on consumer that’s why decision related to marketing mix is to be taken depend on consumers.
ORGANIZATION CHART OF MARKETING DEPARTMENT
Marketing Manager
Officers
Quality Controller
Research Officer
Supervisor
Workers
MARKETING DEPARTMENT
Product Planning:Balaji Wafers Pvt. Ltd., does not have any specific product planning but depending on the market environment or the trends they produce new products in their product portfolio.
Pricing Planning:Bala Balaji ji Wa Wafe fers rs Pvt. Pvt. Ltd. Ltd.,, is more more cons consci cious ous about about their price because people are more sensitive to price that’s why they providing best quality at less price again the exact price policy helps customer for fast transaction.
Advertising:Balaji Wafers Pvt. Ltd., has given their adver adverti tise seme ment nt in diff differ erent ent ways ways.. Sinc Sincee they they had had not not give given n advertisement in TV because of market criteria and availability of products. They give their advertisements through Calendars, Diaries, Paperweight, Wall Paintings, Magazines, Newspapers, and Stickers etc. to communicate with people. On the other side they are also taking the advantage of Internet which have unlimited target audience for their products.
Marketing Research:Balaji Wafers Pvt. Ltd., do have marketing research program to be proactive against future scenario but bu t they do this kind of activities when requirements is raised. It can be though professional researchers or from the students of different professional B-Schools or College Students.
Sales Promotion:Bala Balaji ji Wa Wafe fers rs Pvt. Pvt. Ltd. Ltd.,, prom promot otee Sale Saless thro throug ugh h giving incentives to their agent and distributors and also by doing competition among them. They try to keep relationship to their network and people by providing stickers, calendars, gifts and wishing cards. They are mainly concentrating on their distribution channel.
Competitors:-
Frito Lays (Kurkure-because of more varieties/flavors in products) A1 Namkeen (Growing with more quality like Balaji) Samrat (More in Ahmedabad Capturing more Market)
Local:-
Shakti (because of Health related products) Ghopal (Capturing slow Market but Growing) Othe Others rs (Gor (Gordh dhan anbh bhai ai – beca becaus usee of namk namkee een n stre stre in different places)
Innovativeness:Recently, Balaji Wafers Pvt. Ltd., have changed the packaging style of their products, which is really appreciated by the people of Gujarat. With new concept of packaging and freshness packets. It gives more brand loyalty to Balaji Wafers Pvt. Ltd., because of also,
Brand name Packaging Style Guaranty and Warranty After Sale Service Price and Quality Varieties of Products Others
PRESENT SCENARIO OF COMPETITION The changed product preference in the market place was diag diagno nose sed d to be the the main main reas reason on for for the the chan changi ging ng mark market et shar shares es and the the comp compaany had had take taken n a memb member er of step stepss to conform to the new demand pattern in the introduction of its new products of Balaji Wafers Pvt. Ltd. In addition to the above new products, launch of a few more products is planned to meet every niche of the market and to improve the company’s market share in the years to come.
************************************************* There are two more products which is THIKA MITHA MIX and ALU SEV from which ALU SEV is just recently produce and introduced in to the marlet. The Balaji Wafers Pvt. Ltd. falls under the category of the FMCG and it’s a medium scale unit. The emphasize has been given to more on potato wafers but due to changing trends and demand company is concentrating more on each products to fulfill the demand of market. Generally the companies are divided I to two categories; FMCG (Fast Moving Consumer Goods) Industrial goods. Compa mpany’s y’s aim is to satisfy the consum nsumeer by providing the qualitative product at affordable price secondly today’s market is the competitive market each and every kid of industry is facing competition Balaji Wafers Pvt. Ltd. has also the competitors. The competitors so Balaji Wafers Pvt. Ltd. are: Frito Lay’s Product. A1 Nankeens Kurkure, (Frito) Smarat Other local brand (Shakti, Parag, Gopal etc.) In spite of having such a big competition Balaji Wafers Pvt. Ltd. having above 500 Kg. per hour* capacity of production. (Old plant)
The latest unit having the high technology ultra modem computerized plant with the capacity of 1000 – 1200 Kg. per hour* I Vad-Vajdi at Kalawad Road.
CHANNEL OF DISTRIBUTION
Product Flow :-
Company
Consumer
Distributor
Retailer
Consumer
Retailer
Consumer
Distributor
Retailer
Information flow ;-
Company
Retailer
Payment of flow :-
Company
Distributor
Distributor
Promotion flow :-
Company
Ad. Agency
Consumer
It shoul should d be real realiz ized ed that that mark market etin ing g and and dist distri ribu buti ting ng channels are one of the more stable element in the marketing mix. A channel is costly and complex to change, unlike. Say, price, which is easy to manipulate. manipu late. For instance, to switch from sele select ctiv ivee to inte intens nsiv ivee decis decisio ion n is a top top mana manage gemen mentt poli policy cy deci decisi sion on,, whic which h will will have have a dire direct ct effe effect ct upon upon sale saless forc forcee number and even upon the type of selling method to be used. The mai main prob roblem that compa mpany has to face is in choosing the most appropriate channel, and from viewpoint of sales management this includes the type of sales outlets that must be serviced. Basically a manufacturer has the choice of the one of four type of distribution at its disposal.
Direct:Here the manufacturer does not use the middleman and sales and deliver direct to the consumer.
Selective:Here Here the man manufac ufactturer urer sales ales throu hrough gh a limi limite ted d number of middle man who are chosen because of their special abilities and facilities to unable the product to be marketed more effectively.
Intensive:The intention is to achieve maximum exposure at the point of sale and the manufacturer sale through as many outlet as possible the servicing and after sale s aspect are probably not not so impor mporta tant nt hear hear.. Prod Produc uctt exam exampl ples es are Ciga Cigare rett ttes es,, Detergents, and Spices etc.
Exclusive:The manufacturer sales to a restricted no. of dealers and and obvi obviou ouss exam exampl plee is Car indus ndustr try, y, wher wheree dist distri rib butor utor intermediate must provide the levels of stock holding, after sales service, etc.
Bala Balaji ji Wa Wafe fers rs Pvt. Pvt. Ltd. Ltd. follow followss inte intens nsiv ivee dist distri ribu buti tion on network system. To impl mplement the overall marketing strategy, the manufacture needs the cooperation of its distributive outlets. In fas fast movi moving ng cons consum umer er goods oods mark market et reta retaiiler ler must must have have adequate stock of products on had to deliver the customers. Dist Distri ribu buti tion on chan channe nell is the the key key tool tool to avai availl prod produc uctt fron frontt manufacturer to the consumer.
Distribution Channel for Gujarat State:Balaji Wafers Pvt. Ltd. has very effective distribution channel which works suitable to the requirement of its product. Distribution channel of the company for Gujarat as follow:
Company
Distributor
Retailer
Customer
Satisfaction to the intermediate is very necessary. New form of distributing can’t be, selected blindly. What problem can be created if, new system fol followed without out pro proper consideration.
Example:Levi Strauss has recently pulled out of direct sales through the Net. Levi’s launched their Web site in 1998, which become and e-salesroom. As these sales cut into their traditional outlets, Levi’s found strong resistance from their existing channels and most. Recently, Levi’s have withdrawn from direct sales through the Net.
TERRITORY MANAGEMENT A sales territory represents group of customer accounts, and industry, a market or specific geographical area establ establis ishmen hmentt of sales sales territ territori ories es facili facilitat tates es matchi matching ng sellin selling g efforts with sales opportunities. There are five reasons for having sales territories: 1) 2) 3) 4) 5)
To pro provi vide de prop proper er mark market et cove covera rage ge To control selling expense nses To assi assist st in eval evalua uati ting ng sale saless pers person onne nell To con contr trib ibut utee to sale saless forc forcee mora morall To aid in the coco-ordin dination of personal selling and and advertising efforts
Firs Firstt of all, all, a geog geogra raph phic ical al cont contro roll unit unit is cons consid ider ered ed which its population, which ultimately shows sales potential in that that rela relate ted d area area,, foll follow ows. s. Gene Genera rall lly y for for ever every y part partic icul ular ar retailers, there is one distributor is selected. Therefore, in cities there is more than one distributor.
FUTURE STRATEGIES
Research and Development : The product is well accepted in the market for its excellent taste ability and good packaging. Some patents have been applied for covering new inventions generated during the development stage of this new product.
Upgr Upgrad ades es for for produc productt qual qualit ity, y, size size,, and and pack packag agin ing g etc. etc. have been introduce in the market. Development of a new product with modern styling is complete. Similarly, the company is working on new product for company’s development. New products are introduced in the market during the current year. The The comp company any has has furt further her stre streng ngth then ened ed its its rela relati tions onshi hip p with customers of Gujarat and also outside Gujarat. Technical interactions have enhanced the R&D and product development capabilities of the company.
Productivity, Safety, Health and Environment : The company has received Many Award for Food Industry Instituted by National Productivity Council.
Provision of safety equipment, creation of safe working cond onditio tions and adop doption of safe work orking pra practices are continuously monitored, resulting in considerable lowering of frequency rate of accidents.
The compan company’s y’s departm department ent of Industr Industrial ial Medici Medicine ne and Hygiene, during the year under review, carried out medical examination of the employees apart from its regular duties of treatment in accident cases, emergency medical care, etc. The company’s Vad-Vajdi plant successfully impleme implemente nted d Environm Environment ent Manage Management ment System System (EMS) (EMS) and was given the ISO certificat certificate. e. The company’s Vad-Vajdi plant already holds this certificate. This makes Balaji Wafers Pvt. Ltd. the first largest multi-location manufacturing company in Gujarat.
MARKETING MIX Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. McCarthy classified these tools into broad groups, 1. 2. 3. 4.
Product Price Place Promotion
PRODUCT ; A product is anything that can be offered to a market to satisfy a need or want. The concept of product is not limited to physical objects anything capable of satisfying a need is a product. In addition to tangible goods, products include services, which are activities or benefits offered for sale that are essentially intangible and so not result in ownership.
A lot lot of thin things gs goin gointo to make make a comp comple lete te prod produc uct. t. The The elements of a product are its quality, features, the brand name, its packaging and sizes along with discounts, warranties and other benefits benefits offered with it. Quality of a product is its ability ability to satisfy staged needs. A better quality product enhances the goodwill of the company and also boosts its sales. The more the dif different feature ures a prod roduct uct offe ffered the better it is considered to be a very essential part of a product is this brand.
A brand is a sign, symbol or design used to identify the product and differentiate it from f rom other consumers. It is a brand same that helps a consumer identifies a product that might benefit it. Buyers who buy the same brand every time know that that they they will will get get the the same ame quali uality ty and reli reliab abiility lity in the the product. To make a product attractive and saleable the producer should package and size it in a manner useful and convenient to the user. The other benefits of a product would include the disc discou ount ntss offe offere red d as well well the the guar guaran ante teee of repl replac acem emen entt or service for a product. Balaj alajii Wa Wafe fers rs Pvt Pvt. Ltd. Ltd. havi having ng 14 prod produc ucts ts in thei their r product portfolio with different verities and taste depending on the demand of customers in which quality is important factors for Balaji Wafers Pvt. Ltd.
PRICE ; Price is the amount of money consumers is ready to pay for a particular product.
Price is the value placed on what is exchanged. Something of value is exchanged for satisfaction and utility, includes includes tangible tangible (functional) (functional) and intangible intangible (prestige) (prestige) factors. factors. Buyers must determine if the utility gained from the exchange is wort worth h the the buyi buying ng powe powerr that that must must be sacr sacrif ific iced ed.. Pric Pricee repr repres esen ents ts the the valu valuee of a good goods/ s/se serv rvic icee amon among g pote potent ntia iall purchases and for ensuring competition among sellers in an open market economy. It is often the only element the marketer can change quickly in response to demand shifts. The marketer can use price symbolically to emphasize quality or bargain. Balaji Wafers Pvt. Ltd. consider the related aspects such as competitors price, cost including production expenses and profit margin and other related aspects, which decide the price of the product. The price of a product needs to be decided upon keeping in mind mind the the kind kind of mark markeet the prod produc uctt has has whet wheth her it is feasible to offer any kind of discounts that is reductions in price or if the producer or marketer is in a position to offer any kind of allowances to the retailers or wholesalers. Price is the most crucial factor in the entire marketing mix.
PLACE: Place deals more with the physical settings of the product. It includes the channels of distribution and production. The kind of coverage the company has with the help of these channels. The different locations of the company and its outlets. It also includes inventory and transportation.
Balaji Wafers Pvt. Ltd. pro provid vides their pro product ucts to different place with the help of strong and powerful distribution network.
PROMOTION : Promo Promoti tion onss an acti active ve,, expl explic icit it form form of mark market etin ing g communication. Promotion highlights the marketing elements in order to increase the odds that consumers will buy and become committed to the product. Thus, promotion can be defined as the marketing function concerned with persuasively communicating to the target audiences the components of the marketing program in order to facilitate exchange between the marketer and the consumers.
Promotion is communication with individuals, groups or organizations to directly or indirectly facilitate exchanges by informing and persuading one or more audiences to accept the product or service. It is basically activities undertaken to communicate the merits of the product or service and persuade target customers to but it. All promotional tools must blend harmoniously into an effec effecti tive ve commun communic icat atio ion n stra strate tegy gy,, to meet meet the the promo promoti tiona onall objectives. The components of a promotion mix are adve advert rtis isin ing, g, pers person onal al sell sellin ing, g, sale saless prom promot otio ion n and and publ public ic relations. Four types of activities provide the key tools to achieve the goals of promotion,
Advertising : Is any paid form of non-personal communication and promotion of ideas, goods or services by an identified sponsor? Although some advertising is directed at specified individuals,, most advertising messages are tailored to a group.
Personal Selling : Is inte interp rper erso sona nall comm commun unic icat atio ion n with with one one or more prospective purchasers for the sake of making sales ? Examples include sales calls to a business by a field representative.
Public Relations : Is a co-ordinate attempt to create a favorable product image in the mind of the public by supporting certain activi activitie tiess or programs programs,, publish publishing ing commer commercia cially lly signif significa icant nt news are a widely circulated medium or obtaining favorable publicity.
Sales Promotion : Consists of marketing activities that add to the basic value of the product or service for a limited time and dir directly stimul mulate consum nsumeer purc urchasing, ng, stimula ulate the distributors to carry the product and promote the product or service or stimulate the effort of the sales force. Balaji Wafers Pvt. Ltd. promot mote their prod roduct ucts by personal selling, advertisement with light boards, banners, wall painting, gifts, stickers, etc.
SWOT ANALYSIS
STRENGTH :
1.
Stro St rong ng br bran and d nam name imag imagee comp compan any y rep reput utat atio ion n Balaji Wafers Pvt. Ltd. has been in operation for over 22 years. Balaji Wafers Pvt. Ltd. recently produce a new product named Alu Sev on the demand and liked by the customers. Balaji Wafers Pvt. Ltd. has a story brand image and brand loyalty synonymous with quality and customer focus. 2.
Cost Advantage Bala Balaji ji group group conc concen entr trat ates es on econo economi mies es of scal scale, e, whic hich results in prod roduci ucing a pro product uct at a lowest cost. Moreo Moreove ver, r, they they deve develo lope ped d it with with fully fully auto automa mati ticc plan plantt in Guja Gujara rat, t, whic which h redu reduce cess in hiri hiring ng cost costly ly tech techno nolo logy gy from from outs outsid idee and and res results ults in cost cost adva advant ntag age. e. That That’s ’s why why Bala Balaji ji Wafers Pvt. Ltd. is lowest cost manufactures in this market. 3. A wide widely ly reco recogn gniz izeed mark market et lea lead der and and an attr attrac acti tive ve base Due Due to conc concen entr trat atee on wide ide midd middle le clas classs, they they produce products at a cheaper rate compare com pare to other oth er and hence it enjoys leadership especially in Wafers and other products, by giving it at affordable price.
4. Wide Wide geogr geograph aphic ic coverag coveragee and and a strong strong distri distribut bution ion capability Balaji Wafers Pvt. Ltd. covers first largest market of the Gujarat. It not only market leader in Gujarat because it has a strong distribution capability all over the Gujarat and now it looks for out side the Gujarat. 5. A stro strong ng fin finan anci cial al con condi diti tion on : amp ample le fin finan anci cial al res resou ourc rcee to grow the business From the latest annual financial reports indicate that Balaji Wafers Pvt. Ltd. has making profit by which it grows year after. Moreover, they have reserves some amount of fund, whi which can can be uti utilize lized d for for R&D, R&D, work work and and shows hows a good good fina financ nciial cond condiition tion alon along g comp compet etiitors tors.. They hey mana manag ge to maintain profit growth, through producing and developing a new product in the market. 6.
Abil Abilit ity y to to tak takee adv advan anta tage ge of ec econ onom omie iess of of sca scale le “Whe “W hen n you you want want to jump jumpst star artt volu volume mes, s, the the only only thing that works is price”. To compete on price, which was the way it went. This results in introduction of Alu Sev, whose price is lesser compare to any of competitors. This makes Bala Balaji ji Wa Wafe fers rs Pvt. Pvt. Ltd. Ltd. prod produc ucts ts affo afford rdab able le to any any clas class. s. Moreover Balaji Wafers Pvt. Ltd. is product is the lower in price compare to other competitors, which improves the sales.
WEEKNESS :
1.
Cannibalization of products So many new products may eat in to the market for existing existing products products of Balaji Balaji Wafers Pvt. Pvt. Ltd. for instance, instance, one product may eat into the market for another. 2. 3.
Underutilizati ation of cap capaci acity
Lack of Advertisement It coul could d be weak weakne ness ss not not to adve advert rtiise in TV but but looking into the availability or products to each area of then and then they should use TV media for their advertisements. They should go for public relationship by providing free gift’s to scho school ol’s ’s stud studen entt or spon sponso sori ring ng fest festiv ival al even events ts.. Lack Lack of professional person in the company. Lower frequency of advertisement in public place.
OPPORTUNITIES :
1. Abilities to grow rapidly because sharply rising demand of Balaji Wafers in food market. Food products have grown at a healthy rate of over 25% for the last three to four years. And it will remain the same for the coming couple of years. This motivates I food product manufacturers to adapt build strategy through inno innova vati tion on of new new desi design gn,, shap shape, e, and and size size etc. etc.,, prod produc ucts ts.. Company should focus more on price to capture the urban market. 2.
Virtual zero maintain once among the products
3. Pricing and Packaging effectively which is much higher than competitors
Launch chiing of new new prod produc ucts ts and and vari varian ants ts of exi existi sting 4. Laun products backed up by appropriate marketing m arketing efforts. 5. Ther Theree is quit quitee pros prospe pect ctiv ivee mark market et in Indi Indiaa as well well as foreign country to expand the business of Balaji Wafers Pvt. Ltd. Ltd. and and prod produc ucin ing g vari variou ouss flav flavor orss depe depend ndin ing g on mark market et trends. With changing trends of fast foods, company can open their retail outlets/restaurants in particular area to making fast food product.
THREATS :
1.
Threat across th Thr the competitor tors The threat from the competitor, manufactures who are some player n to the market, fro which some are from local market and some are branded companies. Kurkure for Frito lay is the largest manufacturer, followed by lays, and the Balaji Wafe Wa fers rs Pvt. Pvt. Ltd Ltd. feel feelss that that ther theree are are at leas leastt thre threee more more producers capable of turning out a peace competitive, quality product in Gujarat. 2.
Sustain pricing To continue computing o piece, Balaji Wafers Pvt. Ltd. has to keep its cost in cheeked increase its volume at the same time. 3.
Mindset of buyers Consumer have tried out new products, most middle class product owners like to stick to tried and tested product. 4.
5.
Incr Increa ease se in awar awaren enes esss abo about ut the the pr prod oduc uctt amo among ng the the people.
Customers te test an and pr prefe ferrences Today’s, customer test and preferences or consumer behavior has been changing they can be easily diverted through throu gh other competitors products due to offer quality, flyover, gifts or avail availab abil ilit ity, y, publi publicc rela relati tions onshi hip p and and othe otherr loca locall player playerss is capturing capturing the slowly slowly the market which which should be taken care by the company.
6. 7.
Government Re Regulation
Deal Dealer erss not not adju adjust sted ed with with ch chan angi ging ng re real alit itie iess Some Some times times deal dealer erss are are hesi hesita tate ted d to expa expand nd thei their r godowns due to increase in the product line of the company because company compels dealers to purchase the entire product line even though the selling of all the product is not equal.
BIBLIOGRAPHY Marketing Management
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PHILIP KOTLER.
Marketing Management
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S. A.SHARELEKAR.
WEBSSITE
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www.balajiwafers.com
