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SUMMER TRAINING REPORT ONANALYZING CONSUMER BEHAVIOUR IN CONTEXT OF NEW PRODUCT LAUNCH FOR

BYBHARAT SRIVASTAVAA-13In Partial Fulfillment for the award of the degreePost Graduate Diploma In Business Management2012-2014NEW DELHI INSTITUTION OF MANAGEMENT F-13, Okhla Phase-1, New Delhi, Pin: 110020 E-mail: info@ndimedu.com Website: www.ndimedy.com

SUMMER TRAINING REPORT ONAnalyzing consumer behaviorIn context of new product launchFOR

Under the supervision ofMs. SANGEETA GOELMr. NAGESH MISHRA

Submitted by- Submitted to- Bharat Srivastava Prof.Abha GroverA-13

ACKNOWLEDGEMENTFor any successful work, it owes its thanks to manyHardwork, knowledge, dedication, and positive attitude all are necessary to do any task successfully but one ingredient which is also very important than others and at a time more important than others in co-operation and guidance of experts and experienced person.I am very grateful to Prof. Abha Grover (Marketing) who was my guide during the development of this project and it was her guidance and assistance which help me in completing my project and I am thankful for her support and friendly guidance. I would also like to express my heartful regards to my parents, my friends and company mentor & staff of Bikanervala Food Pvt Ltd and others who directly or indirectly help me a lot for the successful completion of my project report.So now where my training has been completed and my heart is full of gratification, so I cannot forgot to thanks the Almighty God. His blessings help me everywhere in my life. Thanks God (Bharat Srivastava)

DECLARATION

I Bharat Srivastava student of New Delhi Institution of Management Batch(July2012-14) declare that every part of the Project Report

Analyzing Consumer Behaviour in context of New Product Launch that I have submitted is my original work.

I was in regular contact with the nominated faculty guide and contacted Prof. Abha Grover several times for discussing the project.

Date of project submission:______________

(Bharat Srivastava)

Facultys Comments :__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

_______

(Prof. Abha Grover)

TABLE OF CONTENTSSerial no.ParticularsPage no.

1ACKNOWLEDGEMENT04

2DECLARATION05

3EXECUTIVE SUMMARY07

4INTRODUCTION & COMPANIES PROFILE08

5OBJECTIVE OF THE RESEARCH18

6LITERATURE REVIEW19

7RESEARCH METHODOLOGY21

10OBSERVATIONS AND ANALYSIS24

11CONCLUSION34

12LIMITATIONS36

13SUGGESTIONS37

14BIBLIOGRAPHY38

15ANNEXURE39

EXECUTIVE SUMMARY

This research has been carried out for the achievement of the given aim to analyze consumer behavior in context of new product launch. For this a descriptive research has been carried out in delhi and NCR. A sample size of 50+ was selected through random sampling has at the Bikanervala outlet at Noida Sector-18. The primary data was collected to find out the solution to the problem and a suggestion has been withdrawn at the end of this project.The sample of 50+ consumers had been taken to fill the questionnaire. This survey had measured the analysis of consumer behavior towards packaged product at the company outlet.In this project customers gone through various sensory evaluation test organized by Bikanervala for consumers. The project also has the sensory evaluation of consumers for various brands as well as their average feedback score to the questionnaire in which they participated.

INTRODUCTION & COMPANY PROFILE

BIKANERVALA

Bikanervala is one of India's most prominent families in the business of traditional hospitality products like Sweets and Namkeens. Our forefathers devoted their lifetime in developing exclusive recipes which are now our proud family secrets. To this wealth of inherited knowledge our new generation has now added another dimension - Modern Technology.

Today, BIKANERVALA FOODS PVT. LTD. is an ISO 9001:2000, HACCP and SQF 2000cmcertified company with four modern manufacturing units in the National Capital Region and a chain of 101 outlets in India and abroad, serving vegetarian North Indian, South Indian, Continental, Chinese cuisine and Fast food along with a vast variety of traditional Indian sweets and snacks.

The traditional Indian sweet shop cum restaurant is an experience in itself. Here you can find the pleasure & warmth of traditional Indian Sweets, Namkeens, Chaat & Snacks and 100% pure Vegetarian multi cuisine restaurant which is served & delivered with passion and celebration.

Bikanervalas concept always has been to innovate and yet maintain the original flavour of traditional Indian food with primary focus on quality, hygiene and affordability.

Customer satisfaction is like a religion at Bikanervala and that is why we have been able to keep our century old tradition alive. Bikanervala showrooms are located in India, Nepal, UAE & New Zealand.

BIKANO

Bikano is our international brand of packaged Sweets, Namkeens, Papad and Sherbets, manufactured to the world standards of hygiene and quality. Bikanos packaged products have always been a big hit with customers in both India and abroad. Their food products like namkeens, cookies and syrups have made it the most preferred in between meal snack all over the world. Bikanos concept of constant innovation through the use of modern technology for packaging retains its original flavour for maximum time period. With this vast variety of finest packaged products one can always ready to celebrate a sweet moment , any time , any where. Bikano products are available in Bikanervala & Bikano Chat Cafe showrooms and in leading super markets and retail stores in India & abroad.

BIKANO CHAT CAF

Bikano Chat Caf is a new age concept of Bikanervala aimed at establishing a strong network in the corporate and the retail segment.

It is a chain of fast food restaurants and Tuck Shops serving traditional Indian Chat, Combo Meals, Burger, Pizza and Snacks in a modern hygienic enviornment.Their main focus has been to provide exquisitely packaged traditional food at an affordable price to wherever their customer groups are located, be it corporate houses, malls or even exhibition stalls.

Their innovative menu and state-of-the-art manufacturing and delivery systems ensures original flavour from base-kitchen-to-customer.

VISION

To savour and share the century old culinary heritage of Bikanervala with ultimate taste and relishing freshness and ensuring superior customer experience by providing highest standards of product quality & service.

MANUFACTURING

PRODUCTION

Bikano prides itself in successfully integrating ultra modern technology to manufacture its traditional food products in their 5 factories across India. Their products are quite well known for being healthier than the oily snacks that are found outside since they are fried in machines which are programmed by Programmable Logic Controllers (PLC). They have always been in the forefront in pioneering new technology for modifying traditional sweet recipes of Kaju Burfi, Khoya Burfi, Patisa, Soan Papdi etc. to having a longer shelf life and exporting them abroad. They are specially packed under ambient conditions through an application called MAP (Modified Atmosphere Packaging).The canned food products are very popular amongst Indians abroad, and utmost care is taken to ensure that each of the products undergoes stringent quality test. PACKAGINGBikano has always been in the forefront in adopting new technology for its products. Their state of the art canning and packaging technology ensures that the products have a longer shelf life without losing their freshness. The 3-ply laminate packaging extends the shelf life up to a year. It has successfully adopted the system of Baby Carton and Master Carton to facilitate the sale of items in Departmental Stores and Shopping Malls, which are very popular in the Western Countries. Even the highly perishable sweets are packaged in such a way that they have a longer shelf life without losing their traditional taste.

QUALITY CONTROLEvery product that comes out of Bikanos factory is passesthrough stringent quality checks before it reaches the customers.

Their state of the art manufacturing process has been awarded ISO 9000: 2008 by UL India Ltd and they are also an HACCP and SQF 2000 CM certified organisation by SGS India Ltd.

The Quality Assurance Department has world class testing facilities for Colorimetric, Chromatographic, Chemical, Bacteriological and Physical analyses thereby ensuring quality of raw material, packaging material, packing material and finished goods. The quality standards are at par with the requirements of FDA, and Australian and New Zealand regulations. The demand for their products are a testament to the quality standard held by Bikanervala.

PRODUCTS

Business Network

National Business

Bikano has always been a name to reckon with for its traditional Indian snacks like namkeens, sweets, cookies and sherbets. With the advent of modern technology of packaging, its products reached far and wide across India and became an instantly popular. There is a stringent control on quality of each and every product that goes out of its factory, which is why it has been awarded ISO 9001: 2000 by UL India Ltd.

Also, it is one of the very first packaged food export house registered with the government of India and it is one of the largest in its sector.

The snacks and savouries are packed in convenient sizes and can be brought at affordable rates. Moreover, there are special gift packs, with assorted range of sweets and namkeens for festivals and occasions that makes Bikano a perfect gift item.

Its large distributor network across India ensures that the products reach every nook and corner.

International Business

Traditionally, Bikano has always been well known for its exquisite Indian snacks the world over. And it has been growing at an amazing 200% since past 2 years which is a testament of its demand in the foreign countries. USA, Canada , UK , Germany , Australia , Singapore and Middle-East are few countries where their products are in high demand.

Highest standards of quality are employed both during the production of their snacks and savories. It is because of this reason, they have been awarded ISO 9001: 2000 by UL India Ltd. Bikano is also a HACCP and SQF 2000 CM certified organization by SGS India Ltd. The quality standards are in line with the requirements of FDA according to Australian and New Zealand regulations. Bikano also has a large distributor network across the world, which ensures its products get a wide reach.

OBJECTIVE OF THE RESEARCH

As per the requirement of the project questionnaires established direct contact with the respondents for the purpose of my study, where the respondents were customers. Following are the objectives of the research:- To study various consumer behavior in the market of packaged food products.

To study the sensory evaluation of consumer for packaged food product.

To check prime expectation from consumers by the manufacturing company.

To check why does consumer buy any product on the basis of following constraints and rate them priority wise Brand name, taste and quality, price etc.

To study the awareness of consumer for brands available in packaged food product.

To check the demand frequency of consumers.

To study the purchasing behavior of consumer for packaged food.

LITERATURE REVIEW

After China, India is the second largest food producer in the world with the potential of being the number one in the future. The recent surprising rise in the packaged and processed foods demands noted mainly in the metropolises, are due to a variety of reasons. The metropolises are the biggest consumer of packaged food. This can be attributed to the drastic change in the lifestyle of the consumers of packaged food in the metros. Prevalence of nuclear families, working parents, bachelors refusing to eat out in the, who are mostly engaged in time pressured jobs hardly have the time and expertise needed to cook a conventional meal, which has affected their food habits in a major way. Packaged food is a smart solution which saves both the time and rigors of cooking a conventional meal. Increasing health awareness amongst the consumers also makes packaged food a ready preference since packaged food contains ingredients such as herbs, vitamins, minerals, pro-biotic and other essential nutrients.Analyzing consumer behavior in context of new product launch for the packaged food industry itself is a very important subject. The topic itself describes the behavior of consumer at the time of selection of product variants from the huge rack of product mix by different brands and segments. This is also related to the purchasing behavior of the consumer.Consumer decision-making can be defined as a mental orientation characterizing a consumers approach to making choice. Intention to purchase depends on the degree to which consumers expect the product to satisfy them, when they consume it.In this project we are considered to find out the consumer behavior towards the brand of Bikano. By analyzing the consumer behavior towards brand, preference to packaged product through questionnaire asking for the awareness towards brands, loyalty to the brand, major influencers, and also about the ease of purchase.

RESEARCH METHODOLOGYThissectionindicateswhatisto beresearchedand alsoshowswhichmethodistobe adoptedfortheresearchmethodology.Problem StatementTo study the consumer behavior in context of new product launchIntroductionto Research:-Thefollowingmethodologywill be used to state and justify the reason for using the different methods selected for the research of the project. In order to achieve the aims and objective of the study, it is very important that researcher should use sound research tools and techniques and know how best to analyze the results. Here, the combination of research methods has been utilized in gaining an insight to a complex and changing area.As in the research, the theory is already available about the consumer behavior for the purchase decision by consumer by taking into consideration the price, quality and the brand preference. Hence, the researcher has to find out the behavior of consumer in context of new product launch by knowing the preference of the consumer in the packaged food product market by comparing the prospect market of the available competitors.

ResearchDesign:-This section carries outthe topics such as research sector, research population and instruments used for the research.Research SectorResearcher is going to carry out the research on the prospects of the packaged food products because the research is aimed at the consumer behavior in context of new product launch.Research PopulationResearch population comprises of each and every person come under the terms consumer and customer. They may be working persons, housewives, students and impulsive buyers.Research InstrumentsResearch instruments used to find out the solution of the research problem are:1. Questionnaire2. Sensory Evaluation form

Sampling TechniquesRandom sampling method is used so each population can get equal and fair chance of being selected.

Sample SizeSample size taken for the study is 50+

Source of DataAs the project title itself describes the future aimed problem as the research is conducted problem related to new product launch. Here in the survey primary data is collected with the help of questionnaire method to get the main theme of the project.

Method of AnalysisThe raw data is not fruitful if it is not analyzed properly. There are various tools available in the statistical field. Some statistical tools used for analyzing the data are as follows:Tabulation methodGraphical method

Data analysisQ1. Do you purchase packaged food products?

Analysis :- It was found out from the survey that most of the customers i.e. 88% of them are buyers of packaged food products. There were also few customers about 12% who had not purchase packaged food products. It shows us about percentage of prospects of packaged food in overall market of food products.

Q2. What are the reasons for purchasing packaged food products?

Analysis :- It was found out from survey that even though most of the people are purchasing packaged food products because of this reason that the products are easily available in the nearby shops, save time for preparation , Convenient to used for snacks ,ready available and some of the people purchasing packaged food products for their satisfaction and for taste. Influence of friends and relatives and family member preference has importance for very less people.

Q3. Are you aware of following brands?

Analysis:- It was found out from the survey that people were very much aware of Bikano, Haldirams, Pepsico and Parle where as they were not so much aware of Bhagats and Fritolays.

Q4. Source of information for brand awareness

Analysis:- From the survey it was found out that 61% people are aware of product because of television which is maximum among all other sources. So marketing people in industry should knew about all aspects tools for television advertising.

Q5. Frequency of purchase

Analysis:- From the survey it was found that people mostly like to buy packaged products twice in a week or whenever needed. They are followed by the people who buy the product once in a week followed by daily buyers. People dont like to buy the packaged products fortnightly.

Q6. Nature of purchase decisions

Analysis:- In the survey it was found out that people purchase namkeens from whatever they saw displayed outside the shops . So the company should pay special attention to supply chain management of namkeens. In case of sweets and syrups it was generally a planed activity. But overall it is unplanned purchase because of the lower price structure.

Q7. Place of Purchase

Analysis:It was found that in the survey that lot of people likes to buy packaged food product from its retail outlet rather than any super market or departmental store.So for grabbing maximum number of customers a company should have lots of its owned retail outlets.

Q8. Which brand do you prefer most?

Analysis:It was found that in the survey most of people give their preference to Haldirams followed by Pepsico and Bikano. Fritolays, Parle and Bhagats are less preferred by the customers. So Bikano is already giving a good competition to major brands like Haldirams and Pepsico and also has a lot of scope in the market.

Q9. Factors influencing to prefer a particular brand

Analysis:It was found that any product most preferred because of its quality and taste followed by its brand image. It may be possible that because of good income level of people price do not have any effect on the product preference. Though brand image has more effect rather than price but have not a good percentage to become a common cause.

Q10. What are the alternative purchase plan if prefer brand is not available?

Analysis:It was found that large portion of the market will go for buying the product from other shop if the prefers brand is not available on the shop. This shows the loyalty of the customer towards the Bikano products.

CONCLUSION

Findings:After analyzing the primary data which is collected from the sample with the help of questionnaire and sensory evaluation form conclusion formed at this ground that: Customer purchasing decision is mostly influenced by quality and taste of the product in the area of study. Customer shows a very good loyalty towards brand of Bikano. Bikano has a very good scope in the future for becoming rank one brand in the market of packaged food product. Customers are well aware of most of the brands. Bikano has less market share in against its major competitors Haldirams and Pepsico.

Analysis of objective of study:This section is prepared to know about the achievement of the primary objectives which are carved before the execution of the study.After the successful completion of the study it can be say that our all primary objectives are fulfilled. The analysis of the questionnaire gives the following answer to the primary objectives.

This study tells that the consumer behavior at the market place as planned or unplanned purchasing decision.

The prime expectation of customer is to have quality and tasty products.

Price does not matter to a consumer in the area of study. They are affected by quality, taste and brand of the product.

Consumers are well aware of the available brands into the market.

Demand for packaged products are not too high neither too low in the area of study.

Future Scope of Study:This study tells the current situation of market and consumer behavior towards our brand. Company can use this study for knowing its area of scope to grab prospects customers who are consumers for other companies as well as customers who are not using packaged products.This project can also be used as to know the consumer expectation and will be used for the improvement in the available products.

Limitations & Constraints

In the completion of the research work there are several limitations which are bound the study work to some parameters. The Data regarding the study was not readily available in a concise manner; therefore several approximations were required to be made.

The recommendations made for future scope of study in the project are on the basis of Analysis of Present Trends that may not become suitable on implementation after few years.

Experience of the Researcher will be lagging in the study that might have made the study more analytical in nature.

Time availability will be a major constraint since the study is required to be prepared in time bound manner.

SuggestionsOn the basis of findings from the research made there are some points on which the company should take care of: Company should increase its product length in packaged food product. They should work on the improvement in the product quality and their unique selling proposition. They should have increased their outlet chains to reach large number of customers as the maximum buyers like to buy directly from the retail outlets.

BibliographyBooks:Philip KotlerReferences:Ms. Sangeeta Goel (Manager, Marketing, Bikanervala)Mr. Nagesh Mishra(Manager, Marketing, Bikanerwala)Mr. Akash Singh Rajput(Trainee Manager, Bikanervala)Websites:www.bikanervala.comwww.businessline.com

AnnexureQuestionnaireQ1. Do you purchase packaged food products? Yes/No

Q2. What are the reasons for purchasing packaged food products?Ready available

Taste

Liked by family members

Influence of friends and relatives

Easily available in the shops

Convenient to used for snacks

Satisfaction

Saved time for preparation

Q3. Are you aware of following brands?Bikano

Haldiram

Pepsico

Fritolays

Parle

Bhagats

Q4. Source of information for brand awarenessTelevisionRadiosNews Papers/ MagazinesFriends/ RelativesShop keeper/ RetailerWindow Display

Q5. Frequency of purchaseFrequency

Daily

Twice in a week

Once in a week

Fortnightly

Whenever needed

Q6. Nature of purchase decisionsImpulsive by planned purchase

Place of purchase

Q7. Place of purchase.Retail Outlets

Departmental Stores

Super Markets

Q8. Which brands do you prefer most?Brands

Bikano

Haldiram

Pepsico

Fritolays

Parle

Bhagats

Q9. Factors influencing to prefer a particular brandFactors

Price

Taste

Quality

Quantity

Brand Image

Long shelf life of Product

Q10. What are the alternative purchase plane if prefer brand is not available?Alternative Purchase plansRanks

Go to other shop

Postpone the purchase

Buy other brand

Place order to get required brand

Any other

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