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Transcript of Fairness Creams
PROJECT REPORT ON
FAIRNESS-CREAMS (Middle-end of the market)
Index of content
1.Executive summary. 2.Objective. 3.Methodology. 4.Data collected. 5.Interpretation of data collected. 6.Suggestion for improvement. 7.Conclusion. 8.Appendix.
EXECUTIVE SUMMARYFairness creams have become a vital product for the Indian FMCG companies in increasing their overall sales due to the importance given by Indian consumers towards fairness. As India is a country known for its diverse consumers in different parts of the country preferring different brands. Hence, this report aims to identify the brand preference of consumers towards fairness creams. The questioner also examines the factors influencing consumers in preferring various brands of fairness creams. The data was collected in KOTA city of RAJASTHAN, India among 150 survey respondents. The market size for fairness cream in India was estimated to be Rs.800 crore. The market growth rate ranges between 15 20% on a year-to-year basis. The market of fairness cream is wide in India as India is a country known for its diversity different brands are used in different parts of the country. The brands which are very successful in northern part of the country may not find a place in South India Similarly some brands are successful in rural areas and tier II cities whereas not in cities and metros. Here arises the need for a study on brand preference. This report includes the marketing mix, the factors influencing, consumers buying decision, the key findings of the product category, suggestions for improvement in the present scenario. The classification of the product on different parameters according to the customer.
The market especially in context with females The factors influencing brand preference for fairness creams. The business environment factor affecting the product category. To find out the brand preference for fairness creams.
Objective of the project. To study the market especially in context with females.- To analyze the market of the fairness creams in India. As first of all concept of fairness cream was introduce especially for the ladies basically, it is a impact of socio-cultural environment as preference is given to a fair bride. To find out that is market of fairness cream is limited to females/teenagers in the country or it has an ability to expend. Now in India fairness creams for men are also available in the market. To find in which segment the market is wide survey was done. To study the factors influencing brand preference for fairness creams.-Firms marketing effort. -Socio-cultural environment. -Psychological field. To study the business environment factor affecting the product category. General environment. -Socio-cultural environment. -Legal environment. -Technological environment. Specific environment -Customers -Competitors -Marketing intermediaries To find out the brand preference for fairness creams.
Primary data: The primary data was collected through a interview of Mr. Jai Jaimen sales officer of elder Parma. Survey was carried out at v-mart. The survey was conducted at v-mart Kota in Rajasthan the main reason for choosing v-mart for survey is its demographic outlook (which includes both educated and uneducated, people) consumers of various age groups have been conducted with the research survey. Research instrument used was questioner in addition, it comprises both open and close-ended questions.
Secondary data: (a) Internet (b) Magazines (c) E-media (d) Books of P.G.D.A.M.
Data Collected Marketing mix of the product category. Product.- F.M.C.G.product of personal care.
make-up 13% sunscreen 20%
personal care 42%
fragnance personal care sun-screen make-up
-Price.- Factors on which price depends. -Place.- distribution channel of the product. -Promotion.- Media, hoardings.
Factors affecting consumer buying decision. -Firms marketing effort.
Product.-: Table no.1- Classification of fairness cream users based on AnnualIncome Annual income of customers More then 1lakh Less then 1lakh No. of individuals 60 90 % of individuals 40 60
Price-: The only variable of the marketing mix which gives revenue to the company. And major factor which influences the customer buying decision helps in promotion of the product. Place-: Long ends distribution channel for better availability as well as promotion of the product takes place indirectly through the distribution channel.
Promotion-; The way in which company motivate their targeted customers for buying their products.
Other Sources of Promotion
Promotion of the productsE-media
Retailers: point of purchase
\ Table no. 2 Factors influencing brand preferencesFactors Fairness Sunscreen Fragrance Total No. of Respondents 69 42 39 150 % of Respondents 46 28 26
Table no.3Source of Awareness for fairness creams Source of Awareness Friends and/or relatives Family members Retailers recommendation Television Commercials (TVs) Newspaper Ads Magazine Ads Total No. of Respondents 13 15 4 80 8 30 150 % of Respondents 8.67 10 2.67 53.33 5.33 20
-Socio cultural environment. >Social-class The classes on which a company segments its customer in terms of social class this segmentation of the product helps in generating the marketing strategy of the product. > cross culture The impact of cross culture over the market is that the customer of the fairness creams now more focused on their personality & due to this cross culture effect customers are more concentrate over their skin rather then complexion.
-Psychological fieldWhy there is a need for fair skin ?..?..?
To look attractive
Else not looking good
Else people start suffering from inferiority complex
Women are attracted
It affects our confidence
PRIDE & CONFIDENCE
Business environment -.General environment. >Socio-cultural environment. >Legal environment. >Technological environment.
-Specific environment >Customers Table no.4classification based on age Age Less than 25 25 35 35 45 More than 45 Total No. of Respondents 45 64 17 24 150 % of Respondents 30 42.67 11.33 16
Table no.5Classification based on sex
Sex Male Female Total
No. of Respondents 35 115 150
% of Respondents 23.33 76.67
Table.no.6classifications based on education Education School Under graduation Post graduation Professional Diploma Total No. of Respondents 86 52 6 2 4 150 % of Respondents 57.33 34.67 4 1.33 2.67
>CompetitorsCreams Fair & lovely Vicco Fair-one Fair-ever Himani No.of respondents 45 18 30 30 27 % of respondents 30% 12% 20% 20% 18%
Interpretation of data collected. Marketing mix-: -Product Fairness creams Fairness creams constitute a consistent proportion of income for the FMCG companies in India. As most of the Indians are very much bothered about their colour complexion, the fairness creams enjoy very good market growth rate when compared with other related product categories. As Fairness, creams have become a vital product for the Indian FMCG companies in increasing their overall sales due to the importance given by Indian consumers towards fairness. As India is a country known for its diversity different consumers from different parts of the country prefer different brands. The market size for fairness cream in India was estimated to be Rs.800 crore. The market growth rate ranges between 15 20% on a year-to-year basis. The leading players in the market include Hindustan Lever Ltd., (HLL's) 'Fair & Lovely' with 76 percent of the market share and Cavin Kare's 'Fairever' with 15 percent of the market share. Other important players like Godrej's 'Fairglow', himami's 'Fair and Handsome', Vicco and Himalaya share the rest of the market share. It has been estimated that males constitute 20 percent of the total sales for fairness creams in India. The existing players are focusing upon improving the quality and ingredients and new players are invading the Indian market. As India is a country known for its diversity, different brands are used in different parts of the country. The brands, which are very successful in northern part of the country, may not find a place in South India. Similarly some brands are successful in rural areas and tier II cities whereas not in cities and metros. The market of fairness creams is divided in three segments every segment has its own marketing strategy, prising strategy, promoting styles.
Segment of fairness creams -The upper end Includes customers who are very much sensitivity for their skin can offer any price of satisfaction. Exclusive customers & expensive prices are here in the upper end of fairness cream market. >Olay >lakme >Nivia The upper end also includes premium pricing medicated creams, skin tonners, skin repairing treatment & anti age solutions in the market of fairness creams. Face a limited competition because it is the most expensive market segment of fairness cream. -The middle end Includes customers who are sensitive towards skin but not expend much on personal/skin care & they can offer a limited price for product. this segment of fairness cream market is also known as middle class market as the targeted people/customers are mainly of middle class. >Fair & lovely >Shahnaz hussains fair one >Vicco >Ponds >Himani >Fairever The middle end includes cost + profit pricing The middle end faces