7379243 a Project Report on Bingo

8/1/2019 7379243 a Project Report on Bingo

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A PROJECT REPORTA PROJECT REPORT

ONON

BINGOBINGO

(A COMPARATIVE STUDY)(A COMPARATIVE STUDY)

A Project Report submitted in partial fulfilment of the requirements for theA Project Report submitted in partial fulfilment of the requirements for the awards of the degree ofawards of the degree of

MASTER OF BUSINESS ADMINISTRATIONMASTER OF BUSINESS ADMINISTRATION

TOTO

STUDENTS DECLARATIONSTUDENTS DECLARATION

I here by declare that the Project Report conducted onI here by declare that the Project Report conducted on

BINGOBINGO

Place:Place: ESHA GOELESHA GOEL


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Date:Date: E. No.- 0271333907E. No.- 0271333907

CERTIFICATECERTIFICATE

This is to certify that the Project Report onThis is to certify that the Project Report on

BINGOBINGO


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ContentsContents

1. INTRODUCTION1. INTRODUCTION

1.1 General Introduction1.1 General Introduction

1.2 Objectives of Project1.2 Objectives of Project

1.3 Industry Profile of Food Processing IndustryA) Indian Food Processing IndustryB) Indian Snacks Industry:An OverviewC) SWOT analysis of Indian Snacks Industry

2. PROFILE OF THE ORGANISATION: ITC Ltd.

A) EstablishmentB) Growth and Diversification

3. STUDY OF SELECTED RESEARCH PROBLEM

3.1 Statement of Research Problem

3.2 Statement of Research Objectives3.3 Research Design & Methodology3.4 Analysis of Data3.5 Summary of Other Findings3.6 Recommendations and Conclusions

APPENDIXAPPENDIX

A) Questionnaire SampleA) Questionnaire Sample

B) BibliographyB) Bibliography


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CHAPTER.1

INTRODUCTION


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CHAPTER.1 INTRODUCTION

1.1 GENERAL INTRODUCTION

The project purports to decipher the satisfaction level as well as the preferences

of consumers pertaining to the various flavours of BINGO- a new range of

savoury snacks launched by ITC. We aim to analyse the success, marketability

and future growth prospects of BINGO. We also intend to study the spending

habits and motivation of consumers for buying snacks.

Basically we intend to find out the most popular flavour of BINGO in the market

from our sample. Snacks as such are a very minor part of the food processing

industry because snacks sector is largely unorganised. Here we will also look

into the market trends in snacks over the years.

For this a survey was conducted in Delhi where respondents were asked to fill a

questionnaire. The data was collected and analysed to obtain conclusions.

This report carries an introduction of the company profile, detail of the

methodology followed detailed data analysis and the results so obtained with the

variety of graphs along with given.

1.2 OBJECTIVES OF THE STUDY

1. To study the snacks industry as a part of food processing industry.

2. To study the company profile of ITC Ltd the makers of BINGO.

3. To study the trends in snacks industry.

4. To analyse and interpret the results of sample collected.


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5. To determine the future course of action by ITC.

6. To find conclusions to our project.

1.3 INDUSTRY PROFILE OF INDIAN FOOD PROCESSING

INDUSTRY

A) Indian Food Processing Industry

Food processing industry in India is a sunrise sector that has gained prominence

in the recent years. Availability of raw materials, changing lifestyles and

relaxation in policies has given a considerable push to the industrys growth.

This sector is among the few that serves as a vital link between the agriculture

and industrial segments of the economy. Strengthening this link is of critical

importance to improve the value of agricultural produce; ensure remunerative

prices to farmers and at the same time create favorable demand for Indian

agricultural products in the world market. A thrust to the food processing sector

implies significant development of the agriculture sector and ensures value

addition to it.

Ministry of Food Processing Industries

The Ministry was set up in 1998 and the industry segments that come under its

purview are:

Fruit & Vegetable processing (including freezing and dehydration)

Grain Processing

Processing of Fish (including canning and freezing)


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Processing and refrigeration of certain agricultural products, dairy

products, poultry and eggs, meat and meat products

Industries related to bread, oilseeds, meals (edible), breakfast

foods, biscuits, confectionery, savory snacks, malt extract, protein isolate,

high protein food, weaning food and extruded food products (including

other ready-to-eat foods)

Beer, including non-alcoholic beer

Alcoholic drinks from non-molasses base

Aerated water and soft drinks

Specialized packaging for food processing industries.

The Ministry of Food Processing Industries, GoI, has estimated the size of the

Indian food market at US$ 191 bn (Rs 8,600 bn). The processed food market is

projected to be over US$ 100 bn, of which the primarily processed food market

accounts for 60%, while the value-added processed food market is around 40%.

The average annual growth of the food processing industry has been around 8%

between FY01-FY06. The segments that have driven the growth are the

beverages and meat & meat products and processed fish sectors. The food

processing industry in India has a share of 1.5% in the total GDP of the country,

and as part of total manufacturing accounts for 9%. Indias share in world trade

in respect of processed food is about 1.6%.

An extensive and highly fragmented industry, the food processing sector largely

comprises of the following sub-segments: fruits & vegetables, milk and milk


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products, beer & alcoholic beverages, meat and poultry, marine products, grain

processing, packaged/convenience food and packaged drinks. A large number of

players in this industry are small sized companies, and are largely concentrated

in the unorganized segment. This segment accounts for more than 70% of the

output in volume terms and 50% in value terms. However, though the organized

sector is comparatively small, it is growing at a much faster pace

B) INDIAN SNACKS INDUSTRY:An Overview

Snacks are a part of Consumer Convenience/ Packaged Foods segment. Snack

is described as a small quantity of food eaten between meals or in place of a

meal. Snack food generally comprises bakery products, ready-to-eat mixes,

chips, namkeen and other light processed foods According to the ministry of food

processing, the snack food industry is worth Rs 100 billion in value and over

4,00,000 tonnes in terms of volume.


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Though very large and diverse, the snacks industry is dominated by the

unorganized sector. According to an Apeda survey almost 1,000 snack items

and 300 types of savouries are sold across India. The branded snacks are sold

at least 25% higher than the unbranded products. Savoury snacks have been a

part of Indian food habit, since almost ages. Though there is no particular time

for snacks, normally they are consumed at teatime. The variety is almost mind-

boggling with specialties from all regions, which have gained national

acceptance.

The industry has been growing around 10% for the last three years, while the

branded segment is growing around 25% per annum to stand at Rs 5,000-Rs

5,500 crore, due to various reasons like Multiplex culture, snacking at home

while watching TV, pubs and bars (where they are served free). AC Nielsen's

retail audit shows that the large sales volumes are due to a marked preference

for ethnic foods, regional bias towards indigenous snacks and good value-for-

money perception.Of course the branded segment is much smaller at Rs 2,200

crore, which is what makes it so attractive to food Companies that are looking at

bigger shares. In the branded snacks market, to get down to basics, Frito Lay

commands a share of 45%, followed by Haldirams at 27% and ITC at 16%. The

rest is divided between a handful of new entrants, wannabes and many regional

players.

Of the wide range of snacks available, potato chips constitute a sizeable

segment of the Indian snack food industry, according to India Infoline. The potato

chip market is generally an unorganized industry. Nearly all potato chip snack

products are manufactured and sold locally. There is also no uniform standard for

packaging, as there is in Europe, the United States and other more developed
http://www.financialexpress.com/section/Companies/95/http://www.financialexpress.com/section/Companies/95/


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regions. Many snack foods are sold loose or packaged in poly-pouches, which

may only be folded, or in some cases, stapled closed. As the Indian economy

continues to grow, and production standards improve, many snack food

companies are making significant investments into plant equipment and

packaging machinery.

Pepsi Foods Ltd., now known as Frito-Lay India Ltd., produces India's largest

snack food manufacturers brands, including Ruffles, Hostess, Cheetos and Uncle

Chips. Frito Lay's story is an example of how American recipes were adjusted to

satisfy local tastes. Procter & Gamble's Pringles brand of potato crisp was

launched in Delhi in 1999. Pringles is also a baked potato crisp, unlike many

other potato based Indian snack foods that are fried. P&G currently imports the

Pringles product and therefore the product has been priced at a premium and is

marketed to a micro-niche.

C) SWOT Analysis of Snacks Industry

Strengths

Abundant availability of raw material

Vast network of manufacturing facilities all over the country

Vast domestic market

Urbanisation

Weaknesses

Low availability of adequate infrastructural facilities

Lack of adequate quality control & testing methods as per international

standards

Inefficient supply chain due to a large number of intermediaries

High requirement of working capital
http://www.allbusiness.com/retail-trade/food-beverage-stores-specialty-food/811287-1.htmlhttp://www.allbusiness.com/retail-trade/food-beverage-stores-specialty-food/811287-1.html


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Opportunities

Rising income levels and changing consumption patterns

Favourable demographic profile and changing lifestyles

Integration of development in contemporary technologies such as

electronics, material science, bio-technology etc. offer vast scope for rapid

improvement and progress

Opening of global markets

Threats

Affordability and cultural preferences of fresh food

High inventory carrying cost

High taxation

High packaging cost

Competition between national and regional players


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CHAPTER.2

PROFILE OF THEORGANIZATION:

ITC Ltd.

CHAPTER.2 PROFILE OF THE ORGANISATION


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ITC LIMITEDA) Establishment:

Incorporated on 24 August 1910 as the Imperial Tobacco Company of India

Limited, the company's name was changed to ITC Limited in 1974. Rated

among the 'World's Best Big Companies' by Forbes magazine, ITC ranks third

on all major profit parameters among India's private sector corporations. ITC

employs over 20,000 people at more than 60 locations across India. It has a

turnover of $3 billion.

B) Growth and Diversification:

ITC is one of India's foremost private sector companies with a market

capitalization of nearly US $ 18 billion and a turnover of over US $ 4.75 billion.

ITC is rated among the World's Best Big Companies, Asia's 'Fab 50' and the

World's Most Reputable Companies by Forbes magazine, among India's Most

Respected Companies by Business World and among India's Most Valuable

Companies by Business Today. ITC also ranks among India's top 10 `Most

Valuable (Company) Brands', in a study conducted by Brand Finance and

published by the Economic Times.

ITC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty

Papers, Packaging, Agri-Business, Packaged Foods & Confectionery,

Information Technology, Branded Apparel, Personal Care, Stationery, Safety

Matches and other FMCG products. While ITC is an outstanding market leader in

its traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and


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Agri-Exports, it is rapidly gaining market share even in its nascent businesses of

Packaged Foods & Confectionery, Branded Apparel and Stationery.

As one of India's most valuable and respected corporations, ITC is widely

perceived to be dedicatedly nation-oriented. Chairman Y C Deveshwar calls this

source of inspiration "a commitment beyond the market". In his own words: "ITC

believes that its aspiration to create enduring value for the nation provides the

motive force to sustain growing shareholder value. ITC practises this philosophy

by not only driving each of its businesses towards international competitiveness

but by also consciously contributing to enhancing the competitiveness of the

larger value chain of which it is a part."

ITC's diversified status originates from its corporate strategy aimed at creating

multiple drivers of growth anchored on its time-tested core competencies:

unmatched distribution reach, superior brand-building capabilities, effective

supply chain management and acknowledged service skills in hoteliering. Over

time, the strategic forays into new businesses are expected to garner a

significant share of these emerging high-growth markets in India.

ITC's Agri-Business is one of India's largest exporters of agricultural products.

ITC is one of the country's biggest foreign exchange earners (US $ 2.8 billion in

the last decade). The Company's 'e-Choupal' initiative is enabling Indian

agriculture significantly enhance its competitiveness by empowering Indian

farmers through the power of the Internet. This transformational strategy, which

has already become the subject matter of a case study at Harvard Business

School, is expected to progressively create for ITC a huge rural distribution

infrastructure, significantly enhancing the Company's marketing reach.


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ITC's wholly owned Information Technology subsidiary, ITC Infotech India

Limited, is aggressively pursuing emerging opportunities in providing end-to-end

IT solutions, including e-enabled services and business process outsourcing.

ITC's production facilities and hotels have won numerous national and

international awards for quality, productivity, safety and environment

management systems. ITC was the first company in India to voluntarily seek a

corporate governance rating.

ITC employs over 21,000 people at more than 60 locations across India. The

Company continuously endeavors to enhance its wealth generating capabilities

in a globalizing environment to consistently reward more than 3, 88,000

shareholders, fulfill the aspirations of its stakeholders and meet societal

expectations. This over-arching vision of the company is expressively captured

in its corporate positioning statement: "Enduring Value. For the nation. For the

Shareholder."


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CHAPTER.3

STUDY OF SELECTEDRESEARCH PROBLEM


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STUDY OF SELECTED RESEARCH PROBLEM

3.1 STATEMENT OF RESEARCH PROBLEM

In the branded snacks market, to get down to basics, Frito Lay commands a

share of 45%, followed by Haldirams at 27% and ITC at 16%. The

rest is divided between a handful of new entrants, wannabes and many regional

players. Out of these ITCs Bingo is a new entrant in the market, which was

launched in 2007. ITC has launched Bingo in a wide variety of flavours and

formats, ranging from potato chips to finger snacks. Because of its different and

catchy advertisements Bingo has created a buzz in the market.

Therefore, our aim was to find out the most popular flavour of Bingo among all

the offerings.

We began our analysis by dividing people into those who like to eat snacks and

those who dont. We based our study on the survey of people who like to eat

snacks. This survey was conducted in Delhi. To collect the data we designed a

questionnaire.

3.2 STATEMENT OF RESEARCH OBJECTIVES

The main objectives of our research were as follows:

To find out what percentage of population likes to eat snacks.

To find out which flavour of Bingo is most preferred.


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To analyse the reason for the popularity of the most preferred snack.

To know the satisfaction level of people who eat Bingo.

To find out how much people spend on snacks weekly.

To find out the preferences of people for different brands.

3.3 RESEARCH DESIGN & METHODOLOGY

Research design is the basic framework which provides guidelines for the rest

of research process. It specifies the methods for data collection and data

analysis .In this research project we have used the survey method of data

collection, to be more specific questionnaire method. We conducted a survey in

Delhi. Out of the universe of 500 our sample size is 50. Respondents in the

sample size were asked to fill the questionnaires to gather the data.

3.4 ANALYSIS OF DATA

In order to extract the meaningful information from the data collected an analysis

of data is done using pie charts, bar graphs etc.

The first objective of the research project is concerned with finding

out what percentage of people likes to eat snacks. The pie chart

given below is clear on the percentage of people who like to eat

snacks. Out of 50 respondents 36 like to eat snacks while 14 dont.


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Oursecond objective is concerned with finding out which flavour of

Bingo is most preferred.

Table showing the responses of people:

Flavours Respondents(value)

Respondents(percentage)

Masala Potato chips 3 8%Salted Potato chips 1 3%Tomato Potato chips 3 8%Chatkila Nimbu Achar Potato chips 1 3%Tandoori Paneer Tikka Potato chips 3 8%Mad Angles 22 61%Tedhe Medhe 1 3%Livewires 2 6%

yes, 36, 72%

no, 14, 28%


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8%

3%

8%

3%

8%

61%

3%6%

Masala Potato chips

Salted Potato Chips

Tomato Potato chips

Chatkila Nimbu Achar Potato

ChipsTandoori Paneer Tikka potatochipsMad Angels

Tedhe Medhe

Livewires

The above table and pie chart shows the responses of the people. It is clear that

Bingos Mad Angles dominates the market for Bingo. The second spot is shared

by two flavours equallyMasala potato chips and Tandoori Paneer Tikka potato

chips. Third most popular format of Bingo is Livewires and the fourth spot is

shared by Salted Potato Chips, Chatkila Nimbu Achar potato chips and Tedhe

Medhe.

The third objective was to analyse the reasons for the popularity of

the most preferred flavour. For this the respondents were asked

what do they like most about Bingo. Following pie chart shows their

responses.


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11%

16%

8%

13%

5%

47%

Taste

Variety

Quality

Price

Quantity

Packaging

From the above pie chart we can see that people like the taste of Bingo the

most i.e. they like to eat Mad Angles Because of its unique format and

flavour.

Fourth objective was to find out how much people are satisfied with

Bingo. Following pie chart shows the satisfaction level of people:

very

satisfied

44%

somewhat

satisfied

39%

unsatisfied

17%


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The fifth objective was to find out how much people spend weekly

on snacks.

20

11

5

0

5

10

15

20

25

Money Spent

No.of people

Below 50

50-100

Above 100

From the above diagram it is clear that most people spend below Rs.50 on

Snacks. And very small part of the sample spends more than Rs.100 on

snacks weekly.

Oursixth and last objective was to find out the preferences of people

for different brands. Here, we aim to find out the most popular brand

of snacks excluding Bingo.

13

7

9

2

5

0

2

4

6

8

10

12

14

No. of

people

Snacks Brands

Lays

Kurkure

Uncle chips

Pringles

Haldirams

namkeens


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BIBLOGRAPHY

SME rating agency of India ltd.

www.allbusiness.com

http://www.financialexpress.com/news/Just-munch-it/271873/0

www.itcportal.com
http://www.allbusiness.com/http://www.itcportal.com/http://www.allbusiness.com/http://www.itcportal.com/

7379243 a Project Report on Bingo

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