Research Method in Business

Presented to :Prof. Mrs.Pashmeen Kaur

Group Members:1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Anil Gupta Asif Khan Brenden D'souza Durgesh Vishe Jatin Parmar Niranjan Kumar Suraj Shetty Kishor Shetty Ajay Chavan Rahul Kumar Yadav 61 67 59 100 73 97 91 40 57 106

Acknowledgement

The acknowledgement may go on like this........ I would like to express my special thanks of gratitude to my teacher as well as our principal who gave me the golden opportunity to do this wonderful project on the topic, which also helped me in doing a lot of Research and I came to know about so many new things I am really thankful to them. Secondly I would also like to thank my parents and friends who helped me a lot in finishing this project within the limited time. I am making this project not only for marks but to also increase my knowledge . THANKS AGAIN TO ALL WHO HELPED ME.

History And Evolution of ITC Ltd

ITC was incorporated on August 24, 1910 under the name Imperial Tobacco Company of India Limited. The Company was changed from Imperial Tobacco Company of India Limited to India Tobacco. Company Limited in 1970 and then to I.T.C. Limited in 1974. In recognition of the Company's multi-business portfolio encompassing a wide range of businesses - Fast Moving Consumer Goods, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business and

Information Technology. ITC's Packaging & Printing Business was set up in 1925. In 1975, the Company launched its Hotels business with the acquisition of a hotel in Chennai which was rechristened 'ITC-Welcomgroup Hotel Chola' (now renamed My Fortune, Chennai).

Sunfeast
Sunfeast has been a success because of these three competencies of ITC. Sunfeast was launched in 2003 was one of the diversification forays of ITC which wanted to establish itself as a serious FMCG player from its position of Tobacco products leader. ITC had the advantage of the well entrenched distribution setup which is matched only by HLL. Indian biscuit market is estimated to be around 4500 - 5000 crore. The market is dominated by Parle and Britannia. Parle is the volume leader with brands like parle- G,

Krackjack and Monaco while Britannia is the value leader with brands like 50: 50, milk bikis, Tiger, Goodday etc. The biscuit market has now moved from the core Glucose base to more value added categories. The key markets are UP, Maharashtra, and Tamilnadu. The percapita consumption of biscuits in India is only 1.2 kg per annum while the percapita consumption is 15 kg p.a in developed nations. While the glucose biscuits are popular in Rural India , Urban market prefer Cream biscuits. In a unique marketing move, FMCG major ITC has launched a new range of Sunfeast Biscuits: Sunfeast Sachin's Fit Kit. The brand's uniqueness lies in the fact that first time in India a product is being co-created by the company and the brand ambassador. In a world cup Googly , Sunfeast has not only roped in Sachin as a brand ambassador but also bought in a variant of a different kind. Sunfeast Sachin's Fit Kit is the first Indian brand where the celebrity has been actively involved in the product development. Sachin has shared his dietary regimen which has helped him to stay in top fitness for more

than 17 years ,with the company and the product was developed taking inputs from the dietary regime. The new variant is branded as Sunfeast Sachin's Fit Kit.

Market Research by ITC

Before entering the segment, ITC dug into market research. Research revealed that the category had gaps which ITC could settle into. Findings revealed that consumers wished to taste new and innovative products. That was precisely what the competition had not done in a big way. Says Naware, "The biscuits industry had witnessed little innovation; Glucose was Glucose and Marie was still Marie." The company decided that this could be its biggest point of attack. In 2003, ITC launched Sunfeast with six ranges. But it was a calculated risk. ITC stuck to category favourites like Glucose, Marie and Bourbon cream. Along with that, it also launched innovations such as orange-flavoured Marie, Marie light and butterscotch-flavoured cream biscuits. In 2004, Sunfeast followed this up with the launch of

Sunfeast Milky Magic. More recently, it also has launched the Sunfeast Snacky and Sunfeast Golden Bakes. Analysts believe that just because Sunfeast was a new brand, helped matters. Says a consultant, "The biscuits industry had not witnessed any major product innovation in years. Consumers were just waiting for something new, something fresh, when Sunfeast happened." Even the competition had not made things better. Between 2000 and 2005 neither Parle nor Britannia launched any major new product. Yes, Britannia did re-launch its Tiger brand in 2005. But Britannia claims that it is looking at more than just products. Richa Arora, general manager and head of marketing and innovations, Britannia Industries, says, "We are not just looking at new products, but tapping newer opportunities -- such as different occasions as well as out-of-home consumptions." In 2005, before Diwali, Britannia launched Occasions -- boxes of assorted biscuits priced

between Rs 50 and Rs 200 -- which the company claims has been very successful. In 2006, however, the industry has seen a flurry of innovations from the big two. Digestive Marie -- was launched by Parle in early February 2006. Britannia launched its new double-flavored Mariegold and 5050 Chakkar. And Parle is all set to launch at least two new products before the end of this year.

Distribution
Distribution is the key for FMCG products. In biscuit category, distribution and visibility is extremely important as it's partly an impulse purchase product. Priya Gold, which entered the western region in 2000, is struggling to find its feet even five years later. However, in this regard, Sunfeast did not stumble. The main credit goes tobacco business its understanding and deep grasp in distribution. But it was not limited to just panwaris, but looked at the grocery stores and other retail formats. The company says the brand is now available in nearly 1.8 million outlets. Britannia claims it has a superior distribution clout with its presence in nearly 3.3 million outlets. Parle, the seasoned player itself, says it is available in 1.5 million outlets. Sunfeast's next step was to step up its branding and promotion.

Marketing Mix
Price
Pricing models The biscuits industry now has two clear models. Parle products play the low price game at all varieties of biscuits from glucose to cream. Essentially, Parle plays a high volume, low margin game. But Britannia and Sunfeast look at a two-pronged strategy. High margins in cream variants and volumes from the Marie and Glucose segments. For instance, cream biscuits from both Britannia and Sunfeast cost Rs 10 for 100 grams. Parle, however, only charges Rs 5 for its cream variants. Except for Hide & Seek, all of Parle's products lie in the price range between Rs 4 and Rs 6 for 100 gram packs. To be fair, in Glucose and Marie, the companies have little choice. As there is little differentiation, consumers are extremely price sensitive. But these segments are important. Marie and the popular glucose varieties make up for nearly 55 per cent of the Rs 4,000 crore (Rs billion) biscuits segment -- a significant Rs 2,200 crore (Rs billion). The biscuit consumer is willing to pay more only when he sees a clearly differentiated product. Hence companies have little choice in terms of pricing. No wonder all the Glucose and Marie variants straddle price points of Rs 4-6 (for 100 grams).

Promotion
To establish a brand in this tough market was never easy. Sunfeast using heavy promotion and careful brand building have already garnered 10% market share in this market. Sunfeast is positioned as an exciting brand. This platform is supported by a series product launches. Since Biscuits are convenience goods, new tastes and new products are essential to built excitement in the market. Sunfeast have maintained continuous series of new launches like Milky Magic, Coconut, strawberry, pineapple cream etc. Recently Sunfeast launched a product for the premium segment named "Dark Fantasy" with chocolate flavour and cool advertisements.

Product
Product The core benefit of the product is to give good quality to the customers. The consumer needed a change in the taste from Parle G which was consumed from years long. The product looks promising in terms of look,taste and features.

Place
Place Unlike Parle G Sunfeast markets its products mainly in metros and small cities. Its strong distribution network is a major strength of sunfeast biscuits Its distribution channel includes:- Departmental stores Small retailers

Hypothesis
I would like you to help me in completing the project by kindly filling in the questionnaire as it forms an important part of my study. I assure you that. Your responses will be kept confidential and strictly used only for academic purpose. 1. Name : Vivek V. ghanekar 2. Age :15 years old 3. Gender : [ * ] Male [ ] Female 4. Occupation : [ * ] Student [ ] Salaried [ ] Self employed [ ] Professional 5. Rate the following brands in terms of product awareness in all category [5-Very High, 4-High, 3-Medium, 2-low, 1-Very Low] [4] Sunfeast [3] Britannia [5] Parle [2] Priyagold

6. Rate the following brand of biscuits in the order of buying and consumption preference. [5-Very High, 4-High, 3-Medium, 2-low, 1-Very Low] [2] Sunfeast [3] Britannia [5] Parle [4] Priyagold 7. How did you know about the preferred Biscuit? [Very High, 4High, 3-Medium, 2-low, 1-Very Low] [4] Television & Radio [1] Newspaper & Magazines [1] Hoardings [2] Family & Friends [1] Others 8. If Television, through which channel did you know about the product? [5-Very High, 4-High, 3-Medium, 2-low, 1-Very Low] [5] Cartoon TV [2] StarPlus [2] Colors TV [1] News Channels [3] Regional Channels 9. What are the reasons which made you choose the preferred brand of biscuit? [5] Price [5] Quality [3] Brand power [4] Taste [1] Variety [5] Nutritional value 10. Who makes/influences the decision to buy biscuits? [5] Self [4] Spouse [4] Family [5] Children [1] Others 11. How often do you purchase the preferred brand? [2] Daily [5] Weekly [3] Fortnightly [4]Monthly [4] Random 12. Which other brand do you consume? [ ] Sunfeast [*] Britannia [ ] Parle [ ] Priyagold

13. How do you rate the product variants available in the preferred brand of biscuit? [ ] Very Poor [ ]Poor [ ] Average [ ] Good [*] Excellent 14. Which Variant of the Biscuit do you choose? [ ] Cream Biscuit [*] Chocolate chips Biscuit [ ] Salt Biscuit [ ] Wheat Biscuit [ ] Glucose Biscuit 15. Is the packaging of Sunfeast Biscuits attractive? [] Strongly Agree [*] Agree [ ] Neutral [ ] Disagree [ ] Strongly Disagree 16. What is your opinion about Sunfeast biscuits? [ ] Very poor [ ] Poor [ ] Average [*] Good [ ] Excellent 17. How nutritious is Sunfeast Biscuits? Rate accordingly. [ ] Very High [ ] High [*] Low [ ] Very Low 18. What is your prospect of buying Sunfeast biscuits in comparison to new brands? [ ] Very High [ ] High [*] Low [ ] Very Low 19. Do you think celebrity endorsement have effect on brand preference? [ ] Strongly Agree [ ] Agree [*] Disagree [ ] Strongly Disagree 20. Do you think the celebrity Shahrukh Khan is suitable for Sunfeast Biscuits? [ ] Strongly Agree [*] Agree [ ] Disagree [ ] Strongly Disagree 21. Do you think Female celebrity can endorse the brand better than the Male celebrity? [ ] Strongly Agree [*] Agree [ ] Disagree [ ] Strongly Disagree