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PROJECT GUIDE:
PROF. DEEPA ROHIT
SUBMITTED BY:
RIPU SINGH SASAN SUBMITTED TO:
This is to certify that Mr. Ripu Singh Sasan the student of MBA 2nd year of Lala Lajpatrai Institute of Management, Mumbai have completed their Grand Project Role of sales promotions in FMCG in the year 2011-2012 in partial fulfillment of Mumbai University requirements for the award of the degree of Master of Business Administration.
Director
Date:
LLIM/M.B.A-2nd Year/Marketing/2011-2012 2
PREFACE
In this age of globalization hyper competition has become a regular feature. Today the markets am no less then battlegrounds and one has to strive very hard for survival and growth. Due to very rapid industrialization all over the world the demand for the managerial personnel and the administrative personnel has increased. The perfect study of Management involves both the theoretical as Ill as practical aspects. To survive in this highly competitive market Practical Knowledge is as relevant as the Theoretical. The significance of MBA Degree is that the Theoretical aspects, which a student learns throughout the year in the class sessions, can be practically applied through different projects, which one undertakes. Keeping in tune with this doctrine, I have tried to apply theoretical aspects through out the project, which I learned under the course of management. In this project more emphasize given to the various tools of sales promotion and its impact on consumers buying decisions. Actually in recent trend to some extent this technique also become victim of clutter, even though it can be eliminated by generating innovative and more attractive tools to lure the customers. Now a day most of the FMCG companies considering sales promotion as an important part of their marketing strategy. From the analysis of survey it becomes clear that consumers do response to the sales promotion campaign, but there are customers who strongly prefer to stick to brand name.
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ACKNOWLEDGEMENT
Every study requires a guidance of someone who is working in that field. Firstly I would like to thank Director Sir Dr. resources of the institution during this project. I am extremely thankful to my Project Guide, Prof of LLIM for providing an opportunity of preparing a Grand Project Report and allowing me to use the
for their precious guidance regarding the preparation of the Project Report. Their guidance has proved to be useful and without them, the preparation of this report might not have been possible. I am also thankful to the other faculty members of LLIM for extending their valuable support for this project. I also extend my sincere thanks to the Respondents, who helped me during the course of my project and for their gracious attitude. I would like to take this opportunity to extend my warm thoughts to those who helped me in making this project a wonderful experience. Last but not the least; I would also like to thank my family for their support and encouragement.
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Executive Summary
As a part of my study curriculum it is necessary to conduct a grand project. It provides us an opportunity to understand the particular topic in depth and which leads to through to that topic. My topic for the grand project is titled as Study of consumer oriented sales promotion in FMCG sector in which emphasis given to the effect of sales promotion on buying habits of consumers. To start with I will give brief information regarding FMCG sector then moving to the main topic I will explain what is topic is all about. Promotion is one of the pillars of marketing mix and same way sales promotion is also one of the elements of promotion. With respect to consumer oriented sales promotion there am certain theories narrated as operant conditioning and projective theory. Based on secondary source certain theoretical aspects are also included as a part of study. Then after concentration is given to the primary research. It includes the analysis and results of survey which was focuses on consumers behavior towards sales promotion campaign. The survey was conducted with the help of structured questionnaire. At last conclusion of report, findings and suggestions was given based on study of secondary source as same as primary research.
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INDEX
Sr. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. TOPICS Synopsis Research Methodology of the study Introduction Introduction to the topic Sales promotion strategies SWOT Analysis Data Analysis of the survey Findings of the report Recommendations Limitations Emerging Trends Conclusion Bibliography Annexure: Questionnaire Page No. 6 17 20 24 26 43 44 75 77 79 80 81 82 83
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Synopsis
General Introduction of the project
The importance of consumer sales promotion in the marketing mix of the fast moving consumer goods (FMCG) category throughout the world has increased. Companies spend considerable time in planning such activities. However, in order to enhance the effectiveness of these activities, manufacturers should understand consumer and retailer interpretations of their promotional activities. The study here pertains to consumers perceptions regarding sales promotion. Some past researches have suggested that promotion itself has an effect on the perceived value of the brand. This is because promotions provide utilitarian benefits such as monetary savings, added value, increased quality and convenience as well as hedonic benefits such as entertainment, exploration and self-expression.
Objectives of study:
To study consumer preferences with respect to sales promotion in FMCG sector. To examine tradeoffs, relative importance of different attributes while responding to a sales promotion offer. To study the effect of sales promotions in FMCG sector esp. in soaps and detergent
Scope of Study:
From the consumers' perspective: For study purpose, only detergents and soaps have been analyzed I have considered MUMBAI region only because of limited time duration. Due to this, sample size is only 100, which is not very large. Respondent may give biased answer due to some lack of information about other brands. Findings of the study are based on the assumption that the respondents have given correct information.
LIMITATION
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Review of Literature
Abstract 1
An Exploratory Study of Sales Promotion Activities in Toilet Soap Category: An Insight into Consumer and Retailer Perceptions By Kureshi Sonal and Vyas Preeta Abstract Understanding perceptions of channel members and consumers regarding sales promotion activities enhances the effectiveness of these activities. Widespread usage of sales promotion activities in Fast Moving Consumer Goods (FMCG) sector makes it imperative that manufacturers take into account channel member and consumer perceptions before planning such programmes. In this paper, an attempt has been made to examine the nature of sales promotion activities in toilet soap category in India, study retailer perceptions with respect to these activities and also get an insight into consumer perceptions of these activities. Our findings indicate that with respect to the nature of the schemes, premiums (free gifts) were found to be the most frequently used in both premium and popular toilet soap category, followed by price offs. Retailers perceived price offs to have relatively greater impact compared to any other forms of sales promotion. In line with the retailers perceptions, the findings of consumer perceptions indicated that price offs were the most preferred type of sales promotion. Retailers stated that role of word of mouth and television advertising was very important in providing information inputs to the consumers regarding sales promotion activities. This perception of retailers was supported by the consumer unaided recall of sales promotion schemes which were widely advertised. As the retailer interacts and observes consumers more frequently and closely than the manufacturer, it would be useful for the companies to incorporate perceptions while planning sales promotion strategies
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Abstract 2
Journal of Economics and Behavioral Studies Vol. 2, No. 4, pp. 138-150, Apr 2011 Factors Affecting Retailers Attitude towards Manufacturers: A Study on Unilever 1Muhammad Intisar Alam, 2Afreen Choudhury* 1BRAC Business School, BRAC University, Bangladesh 2Faculty of Business Administration, East West University, Bangladesh *ac@ewubd.edu Abstract: The study addresses broadly the performance related issues as to what extent is the impact various factors responsible in terms of retailers for doing business with manufacturers in FMCG (Fast Moving Consumer Goods) sector at Dhaka in Bangladesh. The theoretical framework was designed based on the literature and hence two hypotheses were formulated. The samples were selected by Proportionate Stratified Sampling method. The data were collected by distributing 10 items questionnaires to 50 retailers under different categories in Dhaka. The questionnaire was developed on the basis of exploratory research which were used to measure retailers attitude. Data collected were sorted out and keyed in into SPSS and were analyzed using descriptive statistics to answer the research question. Using the Factor analysis we have extracted four factors and named those factors as Manufacturers Production Standard, Managerial Efficiency, Promotional Capability and Customer Solution Capability. The result of the Multiple Regression analysis showed that there is a significant relationship between retailers attitude (dependent variable) and the factors determined in the factor analysis (independent variables). Together the independent variables explained 67.9% of the variance of the dependable variables whereas the remaining 32.1% was due to unidentified variables. Therefore the results of the study definitely play a vital role and leave an ever lasting impact to be used in decision making by retailers and the entire company as a whole. Moreover this study can be used as a reference for the future studies to understand the perceptions and opinions of the other channel members in addition to retailers as well.
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Abstract 3
Strategies for Survival of Indian FMCGs Jaspreet Bhasin Chandok* Mr. Hari Sundar G** Abstract SUCCESSFUL INDIAN BRANDS COMPETING WITH GLOBAL ONESSTRATEGIES FOR SURVIVAL In 1991 we opened our country to foreign brands. As per this liberalization policy many a foreign players ventured into our country finding it a lucrative large mass market. This research paper is a theoretical paper studying the coping strategies of Indian players in competition to the MNC companies. It studies those Indian players who have stood out in this competition and have been successful in doing so.
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Abstract 4
DETERMINING THE WEIGHTS OF MARKETING MIX COMPONENTS USING ANALYTIC NETWORK PROCESS enay Sad Industrial Engineering Department Istanbul Technical University Istanbul, TURKEY E-mail: sadic@itu.edu.tr ABSTRACT Marketing Mix (4P); composed of Product, Price, Promotion and Place; is a set of tools that should be coherently designated to achieve a company's goals. In order to create brand equity and customer loyalty, any manufacturing or service company should manage and shape product, place, price and promotion strategies. To create competitive advantage, the relationships between the components of Marketing Mix should be analyzed in detail, and the weights of its subcomponents are needs to be determined. The weights of components will further be used in selecting optimal marketing mix. To solve this problem, an Analytic Network approach will be proposed in this paper, and the product mix components and their sub groups will be ranked according to their weights. Keywords: Marketing Mix, Analytic Network Process, Decision Making.
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Abstract 5
The Impulse Buying Behavior of Consumes For the FMCG Products in Jodhpur Dr. Tauseef Ahmad Jai Narain Vays University Department of accounting Abstract: This paper is an attempt to find the variables/factors that effects customer impulse buying behavior in FMCG sector considering retail market in India. The impact of various impulse buying factors like sales and promotions, placement of products, window merchandising, effective price strategy etc on customer impulse buying behavior has been analyzed. A hypothetical model has created in this paper, which has been taken into consideration for our research work on impulse buying behavior of the consumers. The study is based on the primary data collected from Shopping malls, Handlooms and marts from the area of JODHPUR with the help of structured questionnaire on likert scale. Data analysis has been done using SPSS software. The statistical analysis method employed in this study is Factor Analysis. After the through analysis of the available data it has been found out that since income of individual is increasing and more and more people are moving towards western culture in dressing sense, in eating etc so the purchasing power of the people has really gone up and thus the impulse buying of the commodities is on a great increment mainly due to pricing strategies of retail players and full of festivals throughout the year. Key words: Impulse buying, Retail industries in India, FMCG sector.
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Abstract 6
Aniko Schubert: Analyzing supply chain partnerships in the Hungarian FMCGsector 2 Abstract: The aim of this paper is to introduce an on-going research and its preliminary results about partnerships in the Hungarian FMCG (Fast Moving Consumer Goods) -Sector. The Hungarian FMCG supply chains, and their basic influence tools and their relationships with each other are analyzed via dyadic (supplier/producer -buyer/retailer) partnerships. A description will be given concerning the structure of the Hungarian FMCG supply chains. Following Fearne and Duffys (2001) conception, supplier-buyer partnerships will be analysed through the dimensions of nature of the power structure, nature and scope of joint activity and relational norms. Key words: FMCG, supply chain partnerships, power, cooperation, relational norms
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Abstract 7
The impact of consumer behavior on FMCG's A study of Okara, Punjab( Pakistan) By Nayyab, Hafiza Hafsa,Javed, Hamna,Ibraheem, Ahmad,Safdar, Lubna Published on AllBusiness.com
HEADNOTE Abstract In this report we put an effort to see the impact of consumer behavior on fast moving consumer goods. The consumer behavior is studied through different dimension by understanding demands patterns of the people regarding quality, price, brand loyalty and demographics. These are the independents variables through which the behavior of is gathered regarding different FMCG's. Different FMCG's company's like Unilever, P&G, Continental biscuits, Coca-cola and others products are taken to obtain the behavior of regarding it. Our target market was Okara. The data was collected by the primary source LLIM/M.B.A-2nd Year/Marketing/2011-2012 14
through questionnaire. We used stratified random sampling in the report. The population of Okara is 27, 915 and we have selected the sample of about 100 respondents from different classes that includes upper class, middle class and lower class (people having more then 15,000 income). We have seen that people in Okara mostly used Unilever products as they are easily available at near stores. We also saw that they consider quality when they purchase. There is no big retail store for the people. It was also seen that the market share is mostly obtain by multinational companies in Pakistan.
Abstract 8
Appealing Customers Through Advertisements: Use of Advertising Appeal in FMCG Products
Anupama Ambujakshan
In todays competitive world there are innumerable products competing with each other. As a result, it becomes necessary that information regarding features, prices and availability ofthe product is frequently communicated to the consumers. But besides communicating the information regarding the product it becomes important that LLIM/M.B.A-2nd Year/Marketing/2011-2012 15
advertisements are made in such a way that customers are able to connect with the advertisements leading to easy recall and recognition of the products among the competitors products. It is been noted many times that brands with clear and compelling ideas create more meaningful relationship with customers and experience significantly higher growth in terms of sales as well as revenue. This article aims at explaining meaning of different types of advertising appeals and gives example of storyboards of few FMCG products using different advertising appeals.
Abstract 9
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therefore must fundamentally understand and evaluate the impact of their promotional strategies.
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RESEARCH METHODOLOGY
Research Objectives: 1. To study consumer preferences with respect to sales promotion in FMCG sector. 2. To examine tradeoffs, relative importance of different attributes while responding to a sales promotion offer. 3. To study the effect of sales promotions in FMCG sector esp. in soaps and detergent industry. 4. To study consumer behavior in purchase of soaps and detergent
Product categories under study DETERGENTS: TOILETERIES Washing Powder for Clothes Soaps
Research Design
Research design selected for this project is Descriptive.
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Sampling Detail
1. Target population:
The population for this research study consists of the residence of Mumbai.
2. Sampling unit:
3. Sample size:
In this study the sampling unit is individual consumer. 100 consumers 100 retailers. The sample is selected by using convenience-sampling method.
4. Sampling method:
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Introduction
FMCG Concept and Definition:
The term FMCG (fast moving consumer goods), although popular and frequently used does not have a standard definition and is generally used in India to refer to products of everyday use. Conceptually, however, the term refers to relatively fast moving items that am used directly by the consumer. Thus, a significant gap exists between the general use and the conceptual meaning of the term FMCG.
Further, difficulties crop up when attempts to devise a definition for FMCG. The problem arises because the concept has a retail orientation and distinguishes between consumer products on the basis of how quickly they move at the retailers shelves. The moot question therefore, is what industry turnaround threshold should be for the item to qualify as an FMCG. Should the turnaround happen daily, weekly, or monthly? One of the factors on which the turnaround depends is the purchase cycle. However, the purchase cycle for the same product tend to vary across population segments. Many low-income households am forced to buy certain products more frequently because of lack of liquidity and storage space while relatively high-income households buy the same products more infrequently. Similarly, the purchase cycle also tends to vary because of cultural factors. Most Indians, typically, prefer fresh food articles and therefore to buy relatively small quantities more frequently. This is in sharp contrast with what happens in most western countries, where the practice of buying and socking foods for relatively longer period is more prevalent. Thus, should the inventory turnaround threshold be universal, or should it allow for income, cultural and behavioral nuances?
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them frequently, as and when required. Many of these products are perishable. The consumer spends little time on the purchase decision. Randomly does he/she
look for technical specifications (in contrast to industrial goods). Brand loyalties or recommendations of reliable retailer/dealer drive purchase decisions. Trial of a new product i.e. brand switching is often induced by heavy
advertisement, recommendation of the retailer or neighbors/friends. These products cater to necessities, comforts as well as luxuries. They meet the
demands of the entire cross section of population. Price and income elasticity of demand varies across products and consumers.
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Traditionally, sales Promotions have been used by marketer to increase sales in the short term. However, in the last few decades this communication tool has evolved and now is considered from a strategic point of view. For this reason, it is necessary to realize new studies and study how consumers evaluate sales promotions. Sales promotions have grown in both importance and frequency over the past few decades. Although an accurate estimate for total sales promotions expenditures does not exist, I can be sure that the trend is up. Sales promotion serves three essential roles: It informs, persuades and reminds prospective customers about a company and its products. Even the most useful product or brand will be a failure if no one knows that it is available. As I know, channels of distribution take more time in creating awareness because a product has to pass through many hands between a producer and consumers. Therefore, a producer has to inform channel members as Ill as ultimate consumers about the attributes and availability of his products. The second purpose of promotion is persuasion. The cut throat competition among different products puts tremendous pressure on their manufacturers and they are compelled to undertake sales promotion activities. The third purpose of promotion is reminding consumers about products availability and its potential to satisfy their needs. From these elements Sales Promotion is the element which is in the focus of this project. Further Sales Promotion is quite broad term it includes Consumer Oriented Sales Promotion Trade Oriented Sales Promotion
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Marketers uses consumer oriented sales promotion tools for the following reasons: To increase short term sales To induce trial To reduce inventory To establish a brand name To make cross selling To cope up with competition To avoid advertising clutter
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2. Price-off:
A price-off is simply a reduction in the price of the product to increase sales and is very often used when introduction a new product. A reduction in price always increases LLIM/M.B.A-2nd Year/Marketing/2011-2012 27
sales but the use of this technique should be carefully considered in the current market situation. Price-off is the most preferred sales promotion technique because consumers response very positively to this scheme. Not only that but it also cause large increase in sales volume. Price-off reductions am typically offered tight on the package through specially marked price packs. E.g. Krack Jack offers 30% Price-off.
3. Freebies
Freebies are a popular form of modern marketing and am some of the best things about the internet. The definition of freebies is products or services given away for free at no cost to the consumer. Ill thats the definition I came up with. I am a bargain freebie shopper, pretty much going for any free product and informing everyone about it. At different times, big and small companies often give away prizes and money which is too good to be true. Often its in the pursuit of more customers or a larger fan base and it often works.
4. Scratch Cards
A scratch card (also called a scratch off, scratch ticket, scratcher, scratchie, scratchit, scratch game, scratch-and-win or instant game) is a small token, usually made of cardboard, where one or more areas contain concealed information: they am covered by a substance that cannot be seen through, but can be scratched off.
5. Bundling Offers
Product bundling is a marketing strategy that involves offering several products for sale as one combined product. This strategy is very common in the business (for example: bundle a word processor, a spreadsheet, and a database into a single office suite), in the cable television industry (for example, basic cable in the United States generally offers LLIM/M.B.A-2nd Year/Marketing/2011-2012 28
many channels at one price), and in the fast food industry in which multiple items am combined into a complete meal. A bundle of products is sometimes referred to as a package deal or a compilation or an anthology.
1. Target Market: While doing sales promotion, marketer must know who their target market is; otherwise there is no use of all effort because it leads to no where. A target market can be in any of the stages of buying hierarchy i.e. awareness, knowledge, liking, preferences, conviction and purchase. Each stage defines a possible goal of promotion. 2. Nature of the product: There am various product attributes which influence sales promotional strategy. When the unit price is low the manufacturer as Ill as the customer has low risk but he can get the benefit of mass marketing. Therefore, mass marketing requires mass sales promotion schemes. Sales promotion scheme differ for products like its durability, perishable goods etc. 3. Stage of product Life Cycle: LLIM/M.B.A-2nd Year/Marketing/2011-2012 29
Sales promotion strategies am influenced by the life cycle of a product. When a new product introduced, prospective buyers must be informed about its existence and its benefits and middlemen must be convinced to stock it. Later, if a product becomes successful, competition intensifies and more emphasis is placed on sales promotion to increase its sales. 4. Budget Available for Promotion: The funds available for promotion are the ultimate determinant of the promotional program. A business with ample funds can make more effective use of sales promotion program than a firm with limited financial resources. The budget for sales promotion can be prepared by the following methods Percentage of Sales Fixed funds available for sales promotion Following the competition, and Budgeting by objective.
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perceptions. It is found that some customer strongly preferred to buy their regular brand and said that sales promotion would not weaken their loyalty towards the brand. Perceptions regarding underlying company motivations On tapping perceptions regarding underlying company motivations for sales promotion, to increase sales was ranked highest followed by to attract switchers and to sell excess stocks. While providing value to customers and To reinforce company image Ire ranked lowest. This indicates that consumers believed that companies Ire undertaking such activities only for their own benefit and not for the benefit of consumers. Findings from retailer and consumer perception studies, it is evident that there was a matching of perceptions regarding nature of scheme (price offs as most preferred type of scheme mentioned by consumers and retailers perceptions about consumer preferences). Since retailers observe consumers in store behavior Ire frequently and directly, their perceptions regarding providing consumer behavior am likely to be accurate. Such inputs from the retailers would be useful to companies. The retailers had the perception that those schemes which Ire announced through mass media had better response. This was reinforced by the consumer survey which showed that recall in case of heavily promoted schemes on TV was found to be very high. Retailers prediction of companies motivation for offering sales promotion Ire matching with the consumer perception regarding the same. Thus both viewed that companies Ire using sales promotion activities mainly to increase short term sales or encourage switching or selling excess stock and not really to give value benefit or enhance/reinforce brand/company image.
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Perceptions about Response to Sales Promotion Offers They believed that younger age-groups Ire more experimental in nature, amenable to trying new brands, and sought/looked for or asked whether there Ire any) sales promotion schemes running on any toilet soap at the time of purchase. Perceptions about Communications of Sales Promotion Schemes Retailers perceived that role of word of mouth and television advertising played an important part in providing information inputs to consumers regarding sales promotion activities. Variations in Information Flow Smaller (non-supermarket, small format store) retailers received relatively less support compared to supermarkets in terms of servicing, margins, information about sales promotion activities from the dealers. Many a times small retailers Ire only informed verbally about sales promotion schemes by the dealer salesmen during the scheduled weekly visits. Dealer-Retailer Dynamics At the time of sales promotion activities, dealers had tendency to push unwanted stocks onto the smaller retailers. In fact these retailers preferred to stock variety of brands and wanted payment for shelf and window display to increase traffic into their store. However, supermarkets and big retailers Ire pampered and given special services and given better margins and better allowances.
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Margins It was found that in sales promotion schemes margins varied from 6 to15% depending of the size of the retail outlet, bargaining power of a retailer, quantity ordered by him etc. Mostly margins Ire linked to size of the volumes that Ire ordered. Perceptions about terms and conditions Retailers Ire not found to be happy with sales promotion schemes where their margins Ire cut on the pretext of just fast movement of inventory of the brand being promoted. Also if additional incentive was offered it was subject to minimum performance requirement. Nature of POP Retailers indicated that most of the POP (Point of Purchase) materials Ire meant for brand advertisement and not for giving information regarding the schemes. Thus it could be inferred that companys follow up was not adequate. Servicing during duration of Scheme In stock-out situation during the running of the sales promotion schemes, smaller retailers had to wait for replenishment of stocks till the next scheduled weekly visit by the dealer salesman but big retailers Ire serviced on telephonic request for replenishment of stocks. This clearly indicated the disparity in treatment. Problem of left-over A leftover stock at the end of any scheme was required to be sold by the retailers before they ordered fresh stocks. In case of bonus packs scheme, leftover stock was often dismantled (cut open buy one get one free) and sold them individually as a regular soap.
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This approach of the company leads to misappropriation which in turn could result in adverse brand image. Gifts for Retailer motivation Companies at times Ire rewarding retailers by giving free gifts like thermos flasks or clocks if they sold more than certain quantity in a given period. Companies Ire making a half-hearted effort to motivate retailers. Perceptions about mass media announcements Retailers viewed that whenever sales promotion scheme was announced on TV, it created pull and they Ire more than willing to stock such brands. For example Medimix and Dettol contest was not advertised on TV, hence there was very little awareness leading to unsold stock till 6 months. While Lux Gold Star which was heavily promoted on T.V. is recalled even today. Post Promotion Behavior Retailers observed that in most cases sales promotion scheme on a brand might encourage a buyer to switch a brand temporarily but he would revert back to original brand after promotion. Handling Problems Many a times retailers had to handle various sales promotion offers simultaneously in a category and also across categories and there was no formal communication planning either from the dealer or the company. Remembering each offer and handling was a problem especially for a small retailer which was often an as one-man show.
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Consumer attitudes and buying patterns Your brand strategy Your competitive strategy Your advertising strategy Other external factors that can influence products availability and pricing. LLIM/M.B.A-2nd Year/Marketing/2011-2012 38
A Push Strategy:
A push sales promotion strategy involves pushing distributors and retailers to sell your products and services to the consumer by offering various kinds of promotions and personal selling efforts. What happens here is that a company promotes their product/services to a reseller who in turn promotes it to another reseller or to the consumer. The basic objective of this strategy is to persuade retailers, wholesalers and distributors to carry your brand, give it shelf space, promote it by advertising, and ultimately push it forward to the consumer. Typical push sales promotion strategies include; buy-back guarantees, free trials, contests, discounts, and specialty advertising items.
A Pull Strategy:
A pull sales promotion strategy focuses more on the consumer instead of the reseller or distributor. This strategy involves getting the consumer to pull or purchase the product/services directly from the company itself. This strategy targets its marketing efforts directly on the consumers with the hope that it will stimulate interest and demand for the product. This pull strategy is often used when distributors am reluctant to carry or distribute a product. Typical pull sales promotion strategies include; samples, coupons, cash refunds or rebates, loyalty programs and rewards, contests, sweepstakes, games, and point-of-purchase displays.
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A combination sales promotion strategy is just that; it is a combination of a push and a pull strategy. It focuses both on the distributor as Ill as the consumers, targeting both parties directly. It offers consumer incentives side by side with dealer discounts.
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Sales Promotion leads to purchase acceleration/stockpiling effects: In response to a promotion, consumers may buy more quantity of the product category or buy at an earlier time than usual (purchase acceleration effect). If consumers buy extra quantity during a promotion or earlier than normal, then they am not in the market to buy products once the promotion is over. Thus purchase acceleration is demonstrated through A lengthening of inter purchase times after a promotion. Purchase acceleration was more likely to be exhibited in increased purchase quantity than in shortened inter purchase times. Results showed that consumers mostly made up for the large quantity purchased by waiting longer until purchasing again. Results indicated that heavy users tended to accelerate purchases more than light users. There was negligible difference in the acceleration propensities of high versus low income groups. Sales Promotion leads to primary demand expansion for a category: While it was traditionally assumed that consumption rates remain fixed during and after a promotion, but from this project I came to know that promotions also have a primary demand expansion effect. When a primary demand expansion occurs, promotion induced increase in purchase quantities does not significantly extend the time till the next purchase in the category occurs, thus indicating that there has been an increase in consumption promotions induced consumers to buy more and consume faster. It is found that promotion induced inventory temporarily increased consumption rates within the category e.g. in categories such as bacon, salted snacks, soft drinks and yogurt exhibited primary demand expansions as a result of promotion while bathroom tissue, coffee, detergent and paper towels exhibited stockpiling only. Sales Promotions affect sales in complementary and competitive categories: From this project it is found that promotion not only increases sales of main product but it also lead to increase in sales of complementary categories. Found strong cross relationships between products of the promoted product category indicating brand substitution behavior. They stated that retail price promotions work as a form of implicit price bundling whereby the consumer surplus is transferred from the promoted item to non promoted items. Also found that retail price promotions create significant complementary and substitution effects within the store. LLIM/M.B.A-2nd Year/Marketing/2011-2012 41
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Ill-established distribution network extending to rural areas. Strong brands in the FMCG sector. Low cost operations.
weaknesses:
Low export levels. Small-scale sector reservations limit ability to invest in technology and achieve economies of scale. Several "me-too products.
Opportunities:
Large domestic market. Export potential. Increasing income levels will result in faster revenue growth..
Threats:
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DATA ANALYSIS
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Consumers
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Bathing soaps
50 40 30 20 10 0 Respondents Lux 41 Hamam 3 Lifebuoy 14 Nima 8 Others 34
Interpretation:
The above question has been formed to know the soaps and detergents at the top of the mind of the customers. It shows those consumers purchase and use of that particular brand. It will help to the company to know the market scenario and the major brands in the market. Form the above result it is clear that out of 100 customers more than 40 am consumers am having the same brand as the image in their mind, whereas others category is also showing the higher graph than these 3 major players(Hamam, Lifebuoy, Nima).
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Role of sales promotions in FMCG sector Detergent powder Nirma supper Wheel Surf Ariel Others Respondents 19 14 35 18 14
Detergent Powder
40 35 30 25 20 15 10 5 0 Respondents Nirma sup 19 Wheel 14 Surf 35 Ariel 18 Othres 14
Interpretation:
Form the above result it is clear that out of 100 customers 35 am purchasing the same brand of detergent, whereas all others am on same level.
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Brand loyal
60 50 40 30 20 10 0 Respondents Yes 56 No 44
Interpretation: The objective behind the formation of this question is to know the level of brand loyalty of the consumers towards the brands of soaps available in the market. The above figure shows that on 56% of the respondents am loyal to their brands of detergent/soap. FMCG am such a market where the level of loyalty remains low and this is because of many reasons.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 49
Q3. Which factors do you normally consider while purchasing a particular brand of Soap / Detergents?
Factors Fragrance Quality Company image Price Packaging Others Bathing soap 19 33 16 23 6 3 Det.powder 18 36 13 19 11 3
Price 23 19
Packaging 6 11
Others 3 3
Interpretation:
The objective behind this question is to know the effect of influencing factors in the purchase decision of the soaps and detergent powders. It mainly contains the factors like, quality which players an important role in the purchase decision of the soaps and detergents both. If I look at the graph of the soaps and detergent it shows quality as the most influencing factors in the purchase decision while price is also an important for purchase decision. LLIM/M.B.A-2nd Year/Marketing/2011-2012 50
Q4. Do you consider promotional schemes while purchasing a particular brand of Soap / Detergent?
Particulars Yes No Respondents 78 22
H0: Promotional schemes have a significant effect on the purchase of brand. H1: Promotional schemes do not have an effect on the purchase of brand.
Interpretation:
Answer of this question will give idea about the effect of promotional schemes in the purchase decisions. Such types of schemes always attract more and more consumers towards particular brand. Simultaneously it gives idea about the factors which consumers look most in the product before they make final decision. Here H0 is accepted as the graph shows that 78 out of 100 consumers are looking for such schemes before they make purchase.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 51
Q5. Which of the following promotional schemes you have come across so far?
Promotional schemes Coupons price off Freebies scratch cards lucky draw Bundling extra qty. Respondents 16 84 24 12 9 31 44
lucky draw 9
Bundling 31
extra qty. 44
Interpretation:
The above stated question clearly states the awareness of promotional schemes offered in the market by the marketers to attract more and more consumers. The results show that price off and extra quantity is the two main offers/schemes which consumers have came across at the time of purchase. It will help the manufacturers and marketers too how too launch their new products in the market with which schemes.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 52
Q6. Which medium do you feel is suitable to promote the various promotional schemes?
Source Radio TV Newspaper Hoarding Others Respondents 11 69 43 15 12
Radio 11
TV 69
News.ppr 43
Hoarding 15
Others 12
Interpretation:
This question gives stress on the media habit of the people and through which the product should be launch or they think it would be better than other Medias. The above result shows TV as the best media to market the product which will cover majority of the viewer ship. On the second place it shows news papers as the media to promote the product in the market.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 53
Q7. Is there any existing scheme on the Soap / Detergent you am currently using?
Particulars Yes No Respondents 58 42
Interpretation: The answer of the respondents give idea about the awareness of the promotional schemes offered in the market on their existing soaps and detergents. In this situation more then 40% of the people am not aware or having vague idea about the promotional schemes running into the market. It shows that people am not much aware of the schemes which continue in the market it may be because of the present stock of the product at their place. LLIM/M.B.A-2nd Year/Marketing/2011-2012 54
Interpretation:
This question supports the above question. It enlists the answers of those customers who are aware of the present schemes offered in the market and also those schemes which am more demanded in the market. The result shows that 1+1 or 2+1 or other free schemes are more demanded and more aware schemes in the market. LLIM/M.B.A-2nd Year/Marketing/2011-2012 55
So manufacturers may go for the same at the time of launching their product.
Q9. If you get an attractive promotional offer in the product other then of your choice will you switch over?
Particulars Yes No Respondents 73 27
Switching behavior
80 70 60 50 40 30 20 10 0 Respondents Yes 73 No 27
Interpretation:
It shows the level of brand loyalty among the consumers. The result clearly shows that out of 100, 73 people am ready to switch over to another brand if they find better promotional schemes which suits their budget means more qyt + less cost + quality. Combination of all these schemes will run better in the market. LLIM/M.B.A-2nd Year/Marketing/2011-2012 56
Reason
40 30 20 10 0 Cost+qty Respondents 16 Quality 17
Season change 2
No answer 36
Interpretation:
Above question it gives specific reasons for switching too other products. It shows that extra quantity with less or same price, more satisfaction, quality and other factors influence consumers to switch over too other brands.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 57
LLIM/M.B.A-2nd Year/Marketing/2011-2012 58
This show the consumers future expectations from the whether company to come with new schemes or continue with present one. It shows consumers demand which the manufacturers have to meet.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 59
Retailers
LLIM/M.B.A-2nd Year/Marketing/2011-2012 60
Interpretation:
This question gives idea about the benefit to the retailers who am on the market from long period of time and the benefits they am getting more as compare to others. It also shows their experience in the field and the services they am providing too their new and regular customers. It also gives idea about the benefits they are gaining for wholesalers and direct from the company.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 61
LLIM/M.B.A-2nd Year/Marketing/2011-2012 62
Interpretation:
It gives idea about the capacity of the retailers to stock the goods and also the variety of the products they am stocking. It will also make clear the demand of the goods in their stores and the selling of the product in market. Most of the retailer stocks all types of soap and detergent.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 63
Q3. Rank the following factors that customers look for in the purchase of Soap / Detergent. (Rank from 1 to 6)
Factors Fragrance Quality Company Image Price Packaging Others 1 3 66 9 17 4 1 2 24 23 18 28 5 2 3 33 7 34 24 2 0 4 22 3 24 16 27 8 5 10 1 11 6 38 34 6 8 0 4 9 24 55
Bathing Soap
70 60 50 40 30 20 10 0 Fragrance Quality Company Image Price Packaging Others 1 3 66 9 17 4 1 2 24 23 18 28 5 2 3 33 7 34 24 2 0 4 22 3 24 16 27 8 5 10 1 11 6 38 34 6 8 0 4 9 24 55
Interpretation: It gives an idea about the priority the influencing factors too the consumers and also the weight age of that factor over other factors. In the above result people am more quality and price oriented. On the other hand people am also conscious about the company image. Because sometimes the consumer remember that name of the product by the company name and also from the past LLIM/M.B.A-2nd Year/Marketing/2011-2012 64
performance of that company. Fragrance and packaging am not influencing factor as per the respondents.
Factors
Fragrance Quality Company Image Price Packaging Others
1
11 43 13 27 6 0
2 17 34 16 28 5 0
3 41 16 27 14 2 0
4 21 6 26 9 33 5
5 7 1 11 6 43 32
6 3 0 7 16 11 63
Detergent
70 60 50 40 30 20 10 0 Fragrance Quality Company Image Price Packaging Others 1 11 43 13 27 6 0 2 17 34 16 28 5 0 3 41 16 27 14 2 0 4 21 6 26 9 33 5 5 7 1 11 6 43 32 6 3 0 7 16 11 63
Interpretation :
It gives an idea about the priority the influencing factors too the consumers and also the weight age of that factor over other factors.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 65
In the above result people am more quality and price oriented. On the other hand people are also conscious about the company image. Because sometimes the consumer remembers that name of the product by the company name and also from the past performance of that company. Fragrance and packaging am also play important role for purchasing detergent powder.
Suggestion
80 70 60 50 40 30 20 10 0 Series1 Yes 33 No 67
Interpretation:
This could be a very help question to understand the role of retailers in the purchase decision. In above graph 67% of retailer am not suggest to purchase particular brand because of personal relation or that customer am brand loyal. While 33% of the retailer am suggesting the consumers to buy particular brand. There could be many reasons like, extra margin, relations with consumers and quality of the products which retailer may get the benefit of the same. LLIM/M.B.A-2nd Year/Marketing/2011-2012 66
If yes
80 70 60 50 40 30 20 10 0 Respondents High margin 9 Quality 17 Relationship 7 No reason 67
Interpretation:
it gives idea about the reasons why retailers suggest the consumers to buy particular brand. In above graph and table it is clear that for margin and of better relations with consumers and too provide quality product to consumers they suggest consumers too bye particular brand. For the company it may be helpful to target such retailers to sell their product in the market easily. LLIM/M.B.A-2nd Year/Marketing/2011-2012 67
Interpretation:
This gives a real helpful data for checking the effect of sales promotions in the market and how seriously consumers follow the promotions before they go for purchase particular brand. The above result shows that only 8 out 0f 100 didnt go for the promotion otherwise all am looking for any type of the promotions on the product.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 68
11 82 35 2 19 65 79
Which schemes
100 80 60 40 20 0 Coupons Respondents 11 Price Off 82 Freebies 35 Scratch Cards 2 Lucky Draws 19 Bundling Offer 65 Extra Quantity 79
Interpretation:
The above stated results show the demand of various types of promotional schemes in the market by the consumers. Almost all types of schemes am being demanded by the LLIM/M.B.A-2nd Year/Marketing/2011-2012 69
consumers in the market but there am three major schemes which consumers generally look at the time of purchase or before that. Price off, product bundling and extra quantity am more demanded by the consumers over others schemes.
H0: Effect of trade promotions for all four brands is similar. H1: Effect of trade promotions for all four brands is not similar.
Interpretation:
LLIM/M.B.A-2nd Year/Marketing/2011-2012 70
From the above graph shows the trade promotions offered by the NIRMA Ltd to the retailers to attract them towards stocking their goods and also stop them switching them too other major players in the market. NIRMA is mainly offering credit facility which is offered by all major players it may differ in the time limit of the credit. It is also providing extra margin, and units with occasional gift with their schemes.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 71
HUL
Promotions Extra Margin Extra Units Credit facility Gifts Promo. Exp. Respondents 47 34 58 25 22
Interpretation:
The advantage of HLL over NIRMA is that it bam promotional expenses which NIRMA is not doing. It attracts more consumers through such promotions, such as display of the product, banners etc. So this may help it to attract more retailers. It may because of its less cost of production in other segments in which nirma is not operating.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 72
P&G
Promotions Extra Margin Extra Units Credit facility Gifts Promo. Exp. Respondents 40 33 55 20 12
Interpretation: P&G is also a big player in the FMCG market. It is also providing all the facilities which others am providing to retailers.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 73
GODREJ
Promotions Extra Margin Extra Units Credit facility Gifts Promo. Exp. Respondents 46 32 57 19 18
Interpretation:
Godrej is a big player in the FMCG market. It is also providing all the facilities which others are providing to retailers. But it is lacking in bearing expenses which HUL is providing to maximum number of retailers.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 74
OTHERS
Promotions Extra Margin Extra Units Credit facility Gifts Promo. Exp. Respondents 30 18 38 15 7
Interpretation:
Others include local players, as Ill as I established players like, wipro but their products am not in demand like other players but still they am providing all the facilities to retailers to attract towards stocking their products.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 75
GODREJ Extra Margin Extra Units Credit facility Gifts Promo. Exp. 46 32 57 19 18 34.4
NIRMA 46 34 55 24 8 33.4
HUL 47 34 58 25 22 37.2
P&G 40 33 55 20 12 32
Anova: Single Factor SUMMARY Groups Column 1 Column 2 Column 3 Column 4 ANOVA Source Variation Between Groups Within Groups Total of SS 72.55 4573.2 4645.7 5
All the big players provide promotion to the retailers due to cut throat competition; Interpretation: from the one factor anova analysis, it is clearly seen that there is a effect of trade promotion on various brands and am similar too. As p> 0.05, it is the evidence that the null hypothesis is accepted
Count 5 5 5 5
df 3 16 19
MS
P-value 0.96745 7
F crit 3.238872
LLIM/M.B.A-2nd Year/Marketing/2011-2012 76
Q9 Give reasons for not stocking a particular brand. Retailer stocks all types of soap and detergent because of competition.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 77
Q10 Any Suggestions. Retailer suggested that packaging should be further improved and used as promotional tool, to encourage sales during certain periods the company should provide priceoff or extra quantity because that influences directly to the consumer.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 78
Consumer remembers that name of the product by the company name and also from the past performance of that company Retailers am not suggest to purchase particular brand because of personal relation or that customer am brand loyal Margin and of better relations with consumers and too provide quality product to consumers they suggest consumers too bye particular brand. Customers are looking for any type of the promotions on the product before them going to purchase. Price off, product bundling and extra quantity am more demanded by the consumers over others schemes. NIRMA is mainly offering credit facility which is offered by all major players it may differ in the time limit of the credit. HUL attracts more consumers through such promotions, such as display of the product, banners etc.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 80
Recommendation:
The findings of the empirical study indicate that unless the brand to be promoted is in the consideration set of the consumer, sales promotion by itself is unlikely to have any major impact. Clearly this shows that managers need to invest into brand building exercise so that his/her brand appears in the consideration set of the target consumers. Only after this should he spend time, money and energy on sales promotion activities. Sales promotion should not be used in isolation but need to be integrated with other tools and in line with the overall positioning of the brand. Also the importance of the role of mass media came out clearly in the study. Companies need to create sufficient awareness about sales promotion schemes through mass media in order to create awareness. FMCG products am low involvement products characterized by switching behavior. Also the person going to the shop for the purchase of soap is the final decision maker of the brand. Hence it is essential that companies need to design attractive, striking, visible POPs for scheme announcements. With respect to nature of scheme, the finding suggested that premium (free gift) was popular with companies. While both retailers and consumers preferred price offs. So it is necessary that the perceived value of a free gift has to be appealing and high for the target consumers. Repetitive use of the same premium for a prolonged period may have negative effect on the loyal customers. When the company is giving its own product free as premium, it needs to ensure the quality of the product from it as it is likely to jeopardize the image of both its products. The findings exhibited that both the retailers and consumers perceived that sales promotion activities carried out by the companies for increasing sales in short term and clearing excess stocks. What it implies is that companies need to use sales promotion LLIM/M.B.A-2nd Year/Marketing/2011-2012 81
synergistically and communicate so that they provide value to the target audience and enhance brand quality/image perceptions. Companies need to systematize information flow regarding sales promotion activities particularly at dealer and retailer level. Ensuring proper information flow and devising checks and measures to reduce misappropriations and implementation flows should be considered critical aspects for the success of sales promotion activities by the companies. As retailing is fragmented, direct reach by companies is next to impossible. Through dealers and proper feedback mechanism, companies keep in touch with the market. From the study it was found that smaller retailers felt neglected and not enthused to implement the schemes, particularly when additional handling, stocking, accounting was required on the part of a retailer without compensatory margins. It can be seen that the retailer and consumer perceptions matched with respect to preferences of schemes, underlying motivations and role of mass media. This implies that the retailer would be a rich source of information about the consumer and the likely response to sales promotion activities. Developing a system to tap such responses from time to time both at retailer and consumer level would be helpful for planning future sales promotion activities. In order to build trust and commitment companies should tap preferences, perceptions of retailers as Ill as consumers.
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Emerging Trends
So far as FMCG market is concern there is new trend is emerging known as Joint sales promotion. Actually it is old concept but it was more prevailing in durable products now it is coming intro non durable goods also. When any sales promotion scheme either for trade or consumer is announced by more than one company and /or more than one brand of the same company, it is referred as joint sales promotion or horizontal co-operative sales promotion or cross promotion or umbrella sales promotion.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 84
The study reflects that the use of sales promotion undeniably has increased over the years in India. Future holds lot of promise for such schemes across wider range of productmarkets. Sales Promotion has ceased to be major differentiator at least in the metros, with almost all companies offering similar freebies and gifts. As a result now marketers have to find out some innovative ways of sales promotion to differentiate from competitors. Currently Price off and Bye one get one free offers am very effective to attract the consumers towards the products. I have noted that these kinds of promotional tools are useful for short term increase in sales and to induce first trial. These types of promotional schemes should be consistent and changed from time to time depending upon season and competitors schemes. With the Increasing number of supermarket, the branded packaged goods work as silent sales person. So in such stores, sales promotion plays a more effective role in stimulating consumers demands. One of the very important facts I came to know from this project is that sale of goods which contain large quantity and having big packaging e.g. detergent am stagnating because consumer prefer to buy small pack goods, the reasons am: small pack goods reduce risk of bad quality, It had low cost or say price, and last but important factor i.e. mentality to purchase just to try first. Sales of small pack goods am quite high, but from the companys point of view small pack goods is less profitable compare to large pack goods. LLIM/M.B.A-2nd Year/Marketing/2011-2012 85
So here marketer tries to increase sales of large pack goods by using sales promotion tactics like price off and percentage extra.
Bibliography
BOOKS
Philip Kotler, Marketing Management, 11th edition, Pearson education
Asia Publication.
IBSITES
http://www.nirma.co.in_files http://www.hul.co.in_files http://www.pg-india_files http://www.godrej_files
LLIM/M.B.A-2nd Year/Marketing/2011-2012 86
Annexure
LLIM/M.B.A-2nd Year/Marketing/2011-2012 87
Questionnaire Customers
I am students of MBA studying in GLS LLIM MUMBAI and carrying out a survey for my academic project toRole of sales promotions in FMCG. So please fill this questionnaire. Your identity would not be revealed and information will only be used for academic purpose.
Q1. Which brand of Soap / Detergent do you use? Bathing soaps Lux Hamam Lifebuoy Nirma Others Respondent Detergent powder Nirma supper Wheel Surf Ariel Others Respondent
Q2. Do you always buy the same brand of Soap / Detergent? Particulars Respondent Yes No Q3. Which factors do you normally consider while purchasing a particular brand of Soap / Detergents? Bathing Factors soap Det.powder Fragrance Quality Company image Price Packaging Others Q4. Do you consider promotional schemes while purchasing a particular brand of Soap / Detergent? Particulars Respondent Yes No Q5. Which of the following promotional schemes you have come across so far? Promotional schemes Respondent LLIM/M.B.A-2nd Year/Marketing/2011-2012 88
Coupons price off Freebies scratch cards lucky draw Bundling extra qty. Q6. Which medium do you feel is suitable to promote the various promotional schemes? Source Radio TV Newspaper Hoarding Others Respondent
Q7. Is there any existing scheme on the Soap / Detergent you am currently using? Particulars Yes No Q8. If yes, please specify? Particulars 3+1/Other Free Discount No idea No ansIr Respondent Respondent
Q9. If you get an attractive promotional offer in the product other than of your choice will you switch over? Particulars Yes No Q10. Give reason for the same? Particulars Cost+qty Quality Satisfaction Respondent Respondent
LLIM/M.B.A-2nd Year/Marketing/2011-2012 89
Brand loyal More benefit/budget Season change No ansIr Q11. Give suggestions about futuristic promotional schemes.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 90
Retailers
I am students of MBA studying in GLS LLIM MUMBAI and carrying out a survey for my academic project Role of sales promotions in FMCG. So please fill this questionnaire. Your identity would not be revealed and information will only be used for academic purpose.
Q1. Since how long am you in this business? Particulars 1-5 Years 5-10 Years More than 10 years
Respondent
Q2. Name the Soap / Detergent (Company) you stock for. Companies Respondent Nirma HUL P&G Godrej Others Q3. Rank the following factors that customers look for in the purchase of Soap / Detergent. (Rank from 1 to 6) Factors 1 2 3 4 5 6 Fragrance Quality Company Image Price Packaging Others Q4. Do you suggest customers to purchase a certain brand? Particular Respondent Yes No Q5. If Yes why? Particular High margin Quality Relationship No reason LLIM/M.B.A-2nd Year/Marketing/2011-2012 91 Respondent
Q6. Do customers look for various schemes in the product? Particular Yes No Q7. If yes which schemes? Promotional Schemes Coupons Price Off Freebies Scratch Cards Lucky Draws Bundling Offer Extra Quantity Respondent Respondent
Q8. Which Trade Promotions do various companies offer? HUL NIRMA Promotions Respondent Promotions Respondent Extra Margin Extra Margin Extra Units Extra Units Credit facility credit facility Gifts Gifts P Promo. Exp. GODREJ promo. Exp. & G Promotions Respondent Promotions Respondent Extra Margin Extra Margin Extra Units Extra Units Credit facility Credit facility Gifts Gifts Promo. Exp. Promo. Exp. OTHERS Promotions Respondent Extra Margin Extra Units Credit facility Gifts Promo. Exp. Q9 Give reasons for not stocking a particular brand. Q10 Any Suggestions.
LLIM/M.B.A-2nd Year/Marketing/2011-2012 92