Introduction FMCG:

Fast Moving Consumer Goods (FMCG) goods are popularly named as consumer packaged goods. Items in this category include all consumables (other than groceries/pulses) people buy at regular intervals. The most common in the list are toilet soaps, detergents, shampoos, toothpaste, shaving products, shoe polish, packaged foodstuff, and household accessories and extends to certain electronic goods. These items are meant for daily of frequent consumption and have a high return.

Fast Moving Consumer Goods, good having fast movement in the market. Products which have a quick turnover, and relatively low cost are known as Fast Moving Consumer Goods (FMCG). FMCG products are those that get replaced within a year. Examples of FMCG generally include a wide range of frequently purchased consumer products. India’s FMCG sector is the fourth largest sector in the economy.

Major Categories of the FMCG Sector

The FMCG market has four main segments

1) Household care:

Fabric wash, Household cleaners.e.g. Dish wash bars.

2) Personal care:

Oral care, hair care, skin care, cosmetics/deodorants, perfumes, feminine hygiene and paper products. Eg. Toothpaste.

3) Food & Beverages:

Health beverages, staples/cereals, bakery products Snack food, chocolates, ice cream, tea/coffee/soft drinks, processed fruits and vegetables, dairy products, bottled water, and branded flour.Eg. Cold and health drinks and French fries.

4) Health care:

OTC products and ethicals.

(Source: HUL)

Notes: OTC is over the counter products; ethicals are a range of pharmacy products.

Category-wise Share

Food Products - 43%

Personal care – 22%

Fabric care – 12%

Hair care – 8%

Households – 4%

OTC products – 4%

Baby care - 2%

Others - 5%

Major Players of the FMCG Sector

- (Hindustan Unilever Lever) HUL,- (Indian Tobacco Co.) ITC,- Dabur,- Nestle,- Godrej Consumer Products Ltd (GCPL),- Reckitt & Benckiser,- Tata Global Beverages, - (Procter & gamble) P&G, - Emami,- PepsiCo,- Cadbury (Craft Foods).

Growth Drivers for FMCG Sector

Disposable Income

India witnessed an average salary increase of 12 per cent (the globally) over the last five years. Tax rate for an annual income of USD12, 500 dropped to 9% FY11 from 27 per cent in FY03.

There is an increasing appetite for premium products in the urban Segment due to rise in disposable income.

India’s per capita income at current prices (USD )

FY00 460

FY02 660

FY04 860

FY06 1,060

FY08 1,260

FY10 2,910

FY12 4,060

NREGA Disbursement US $

FY07 2.6

FY08 4.1

FY09 7.6

FY10 8.1

FY11 8.4

Sociodemographic Changes

Disposable Income:

There is increase in disposable income, observed in both rural and urban consumers, which is giving opportunity to many rural consumers to shift from traditional unorganized unbranded products to branded FMCG products and urban fraternity to splurge on value added and lifestyle products.

 Buying Pattern Shift:

The crisis of declining FMCG markets during 2001-04 was driven by new avenues of expenditure for growing consumer income such as consumer durables, entertainment, mobiles, motorbikes etc. Now, as many consumers have already upgraded, their income is being directed towards pampering themselves.

 Presence across value chain:

Indian FMCG firms have a presence across entire value chain of the industry, from raw material supply to final processed to and packaged goods, both in the personal care products and in food processing sector. As a result firms located in India have become more cost competitive.

Distribution Penetration

Hair oils, toothpastes and shampoos have penetrated significantly in both urban and rural markets.

Instant noodles, floor cleaners and hair dyes are picking up in the rural areas due to increased awareness.

Companies are now focused on improving their Distribution network to expand their reach in rural India.

A well established network spread across 6 million retail outlets including 25160 million Towns & 4,627,000 Villages.

HUL to triple its distribution by 2012 while, Dabur is focusing on its rural footprint & introduced special packs (Sachets) in these areas for rural growth drive.

Penetration level

Segment Urban

Rural

Floor cleaner

Hair dye

Instant noodles

Mosquito repellent

Skin cream

Hair oil

Shampoo

Toothpaste

26%

5%

19%

59%

32%

80%

57%

77%

4%

2%

3%

18%

18%

67%

37%

42%

A total of 7.8 million retail outlets sell FMCG in India. Grocers are the dominant retail format, accounting for 59%.

Sales Channel breakdown (2010)

Grocers 59%

General stores 13%

Chemists 8%

Paan plus 6%

Food stores 3%

Modern trade 6%

Others 5%

Organized retail has created new channels for FMCG players through diverse retail formats

While organized retail accounts for 5-6% of total FMCG sales, it contributes to over 25% FMCG sales in large cities.

Organised retail sales (% of total FMCG sales) (2010)

Overall 5%

Biscuits 3%

Toilet soaps 4%

Chocolate 5%

Packaged tea 5%

Skin creams 6%

Shampoo 7%

Washing powder 7%

Packaged flour 8%

Beverages 8%

Refined edible oil 9%

Media Proliferation

Television media reaches out to over 50% of Indian population.

Total available airtime slots across media increased by over 5X.

Emergence of DTH takes television media to rural market.

Emergence of niche media and regional media drives affordability amongst smaller brands.

Indian FMCG spends 43 billion on ASP – up over the last decade.

As media reach expands multi fold…: …so does the media spends by FMCG industry

Media 2001 2010

C&S homes (m) 30 80

Television Channels <50 450+

Radio stations 7 275

Circulation (m) 59 110

YEAR ASP as a % sales spending

2000 8.5

2005 9.1

2010 11.2

Government Incentives

Government’s rural expenditure rose to USD18 billion in 2010 from USD5 billion in 2006.

The Indian government is supporting the rural population with higher MSP, loan waiver disbursements through the NREGA programme.

These measures have alleviated poverty in rural India and have increased their spending power.

Increased Investment

Organized retail has created new channels for FMCG players through diverse retail formats.

While organized retail accounts for 5-6 per cent of total FMCG sales, it contributes to over 25% FMCG sales in large cities.

Industry saw heavy FDI inflows as they accounted for 2.1 per cent of the country’s total FDI 2000-11*.

Food processing is the most popular FMCG category; it attracts over 53 per cent of total FDI in the industry.

FDI Inflows

Tea Coffee 95.6

Retail Trading 128.3

Soaps Cosmetics 190.7

Vegetable Oil 203.5

Paper, Pulp 451.4

Food Processing 1210.0

Policy and Regularity Framework

Investment Approval

Automatic investment approval up to 100% foreign equity for NRI and overseas corporate bodies allowed in food processing segments such as tea coffee.

Priority Sector

Food process and Agro Industries.

Relaxation of License

Industrial license not required for almost all food and agro-processing industries barring certain items such as beer, potable alcohol and wines and hydrogenated animal fats and oil as well as items reserved for exclusive manufacture in small scale sector.

Statutory Minimum Price

In October 2009, the government amended the Sugarcane Control Order, 1966 and replaced the Statutory Minimum Price (SMP) of sugarcane with Fair and Remunerative Price (FRP)and the State-Advised Price (SAP).

FDI in Organized Retail

India currently allows 100 % FDI IN Cash and Carry segment and 100% in single-brand retail, and expected to allow 51% FDI in multi-brand retail, which will boost the nascent organized retail market in the country.

Rural Penetration

Semi-urban and rural segments are growing at a rapid pace, currently accounting for 33% of revenues.

The rural segment has grown remarkably over the past five years.

Rural India accounts for one third of pie, robust consumption in rural economy is key driver of India’s sustainable growth. The penetration of companies into rural India (north) increased from 2000 to 46% in 2008 due to companies selling their products in small packets or sachets.

FY Rural Growth in %

2005 - 1%

2006 - 16%

2007 - 10%

2008 - 12%

2009 - 18%

HUL Contributes 45% of sales from rural market in Household category

Dabur India Ltd. Contributes 40% of sales in Personal care category.

Nestle Horlicks (40% low cost for rural market)

GSK Maggi masala e magic at Rs. 2 & maggi Rasile chow at Rs. 4

Britannia Tiger Iron Zor (for low income group)

ITC eChoupal Internet based intervention in rural market empowering Famers across 10 states in 40,000 villages through 6,500 kiosks.

HUL Project Shakti (Rural marketing) Programme.

CERTAIN TOOLS TO UNDERSTAND THE FMCG INDUSTRY

There are four tools to understand the FMCG industry:

1) BCG MATRIX

2) GE MATRIX

3) PORTER 5 FORCE MODEL

4) PESTLE MODEL

1) BCG MATRIX:

- The BCG Matrix is a business method that was created by the Boston Consulting Group in the 1970’s. This business method bases its theory on the life cycle of products.

- Also known as the Boston Box or Grid.

- BCG Charts are divided into four types of scenarios-

a) Stars

b) Cash Cows,

c) Dogs

d) Question Marks.

STARS :

The Stars is the scenario where there is the optimum situation of high growth and high share, this method requires an increased investment due to the continuous growth.

CASH COW :

The Cash Cow cycle deals with low growth and high share. This scenario requires a low investment, but the growth is very slow.

DOGS :

The Dogs method is the situation where the growth is low and the market share is low, this is one of the worst situations. In this situation if the products are not delivering the cash then it is best to liquidate.

QUESTION MARK:

The last part of the cycle is the Question mark which is high market growth but low shares. In this situation there is a high demand but low returns. It is best to try and increase

market share or get it to deliver c

According to this matrix, business could be classified as high or low according to their industry growth rate and relative market share.

Relative Market Share = SBU Sales this year leading competitors sales this year.

Market Growth Rate = Industry sales this year - Industry Sales last year

It provides a graphic representation for an organization to examine different businesses in its portfolio on the basis of their related market share and industry growth rates. It is a two dimensional analysis on management of SBU’s (Strategic Business Units). In other words, it is a comparative analysis of business potential and the evaluation of environment.

LIMITATIONS OF BCG MATRIX:

1. BCG matrix classifies businesses as low and high, but generally businesses can be medium also. Thus, the true nature of business may not be reflected.

2. Market is not clearly defined in this model.

3. High market share does not always leads to high profits. There are high costs also involved with high market share.

4. Growth rate and relative market share are not the only indicators of profitability. This model ignores and overlooks other indicators of profitability.

5. At times, dogs may help other businesses in gaining competitive advantage. They can earn even more than cash cows sometimes.

6. This four-celled approach is considered as to be too simplistic.

On the basis of BCG Matrix the products of HUL & ITC fall under the following:

HUL Ltd on BCG Matrix

ITC Ltd on BCG Matrix

Industry profile: Global & India

Overview of FMCG Industry at Global Level:

2009 was marked from the outset by the international crisis in the global economy and as such was characterised by extremely strained market conditions. If, throughout 2008, the crisis had largely still been confined to the international financial markets, by the fourth quarter it reached the real economy. For the first time in over 60 years, in 2009 the global economy was confronted with a reduction in economic output in the region of 1 % to 1.5 %. The European and North American markets were particularly hard hit, with China continuing to grow – albeit at a much reduced rate – and thus acting as a stabiliser. By the beginning of the third quarter of 2009,

there were discernible signs of recovery from around the world, with the slimmest of growth rates being recorded. In order to support the financial sector and, in turn, the international global economy, many governments put together comprehensive recovery and economic stimulus packages, which drove national debt to record new highs.A more restrictive fiscal policy is therefore to be expected worldwide in the coming years – for example, new public borrowing in the euro zone is to be reduced to 3 % of GDP by 2014. in the future as well: in response to the financial and economic crisis, the ECB, like many other central banks, reduced its base rate significantly, to 1 %. An increase to 1.5 % is expected in the course of 2010.

As a small, export-oriented country, Austria was particularly hit by the global economic crisis – at the beginning of the year, in particular, the Austrian economy was confronted with a massive decrease in economic output; only in the third quarter were the first, slim rates of growth recorded again. For the year as a whole, GDP shrank by 3.8 %; slight growth of 0.3 % is expected for 2010. This was driven by extensive economic stimulus packages from the federal government, which led as a consequence to a significant increase in national debt. Despite the recovery in the economy, Austria – like every country in Europe – is facing continual growth in unemployment

General Economic Environment:

World economic trends:- At the start of Demag Cranes AG's financial year 2010/2011, the global economy was growing steadily. According to Oxford Economics, global GDP increased by 4.9% in the first quarter of 2010/2011 (October to December) compared with the first quarter of 2009/2010. However, mature markets also contributed, thanks to the revival of industries in the euro zone and the USA. Oxford Economics estimated that global GDP increased by 4.2% year on year in the second quarter of 2010/2011. Their GDP climbed by 7.2% year on year in the third quarter. The BIC countries (Brazil, India, China) contributed hugely to this development with growth of 8.1%. Pressures from the government debt crisis meant that GDP in mature markets increased by only 1.6%.

Overview Indian FMCG Market:-

The Indian FMCG sector is the fourth largest sector in the economy with a total marketsize in excess of US$ 13.1 billion. It has a strong MNC presence and is characterized bya well established distribution network, intense competition between the organized andunorganized segments and low operational cost. The FMCG market is set to treble from US$ 11.6 billion in 2003 to US$ 33.4billion in 2015.

With growing income at both therual and the urban level,the market potential is expected to expand further . The large share of fast moving consumer goods (FMCG) in totalindividual spending along with the large population base is another factor that makesIndia one of the largest FMCG markets.

Infras tructure:

The Indian FMCG sector is the fourth largest in the economy and has a market size of US$13.1 billion. Well-established distribution networks, as well as intense competition between the organised and unorganised segments are the characteristics of this sector.

FMCG in India has a strong and competitive MNC presence across the entire value chain. It has been predicted that the FMCG market will reach to US$ 33.4 billion in 2015 from US $ billion 11.6 in 2003. Most of the product categories like jams, toothpaste, skin care, shampoos, etc, in India, have low per capita consumption as well as low penetration level, but the potential for growth is huge.

The Indian Economy is surging ahead by leaps and bounds, keeping pace with rapid urbanization, increased literacy levels, and rising per capita income.

Exhibit ITHE TOP 10 COMPANIES IN FMCG SECTOR

S. NO. Companies

1. Hindustan Unilever Ltd.

2. ITC (Indian Tobacco Company)

3. Nestlé India

4. GCMMF (AMUL)

5. Dabur India

6. Asian Paints (India)

7. Cadbury India

8. Britannia Industries

9. Procter & Gamble Hygiene and Health Care

10. Marico Industries

(Source: Naukrihub.com)

Indian Retail:

The Indian FMCG sector is the fourth largest in the economy and has a market size of US$13.1 billion.The middle class and the rural segments of the Indian population are the most promising market for FMCG, and give brand makers the opportunity to convert them to branded products.

Most of the product categories like jams, toothpaste, skin care, shampoos, etc, in India, have low per capita consumption as well as low penetration level, but the potential for growth is huge.

The Indian Economy is surging ahead by leaps and bounds, keeping pace with rapid urbanization, increased literacy levels, and rising per capita income.

Landmark group:

were launched in 1998 in India. Lifestyle is spread across six cities, covering 4.6 lakh sq. ft. with a turnover of Rs 3.5 billion in 2005. A new division named Lifestyle International has emerged for their international brands business comprising Bossino, Kappa and Springfield in their portfolio.

Piramal Group

In September 1999, Piramal Enterprises announced their arrival into retail with the launch of three retail concepts: India's first true shopping mall of international standards, called Crossroads; a lifestyle department store named Piramid Megastore; and a family entertainment centre known as Jammin. They have around 18 TruMart stores covering 1.90 lakh sq. ft. registering a turnover of Rs 37.6 mn in 2005. Piraymd Megastore’s contributes more than 70 % to their retail mix with a turnover of Rs 112.8 mn. They plan to open 150 stores covering 75 mn sq ft of retail space in the next 5 years.

Subhiksha

Subhiksha is a Chennai-based, decade old, no frills, food, grocery, pharmacy and telecom, discount retail chain. ICICI Venture Capital holds 24% in the equity capital of Subhiksha. It has more than 500 stores across the country covering a retail space of more than 1 million sq ft with a registered turnover of Rs 3.34 bn in 2006. It has a planned investment of Rs.300 crores to ramp up its operations to 1200 stores by 2008.

Bharti-Walmart

Their plans include US$ 7 bn investment in creating retail network in the country including 100 hypermarkets and several hundred small stores. They have signed a 50:50 percent joint venture agreement with Walmart. Wal-Mart will do the cash & carry while Bharti will do the front-end.

Chinese FMCG Market:

Overview of Chinese FMCG Market:

The very idea of packaged foods goes against traditional Chinese food buying patterns, with consumers often opting for fresh foods. Moreover, a recent survey by the China Market Research Group indicates that product safety is the top priority among Chinese shoppers – something that Chinese brands are not usually associated with. Work cut out for them in their own domestic market.

As a telling gauge of China’s growing FMCG market, FMCG logistics spending in China grew at a CAGR of 6.5 percent between 2005 and 2010 according to a June 9, 2011, report by Data monitor. The same report forecasts logistics spending for FMCG to grow at a CAGR of 6.3 percent over the period 2010-14.

Infrastructure:

The fast-moving consumer goods (FMCG) industry boosted sales more than profits in China last year in a context of rapid expansion, sources with the China Chain Store and Franchise Association said on Thursday.

Statistics compiled by the association for 100 major FMCG enterprises which mainly run super markets, malls and convenience stores year. The enterprises operated 54,575 stores, up a massive 81 percent, sources with the association added. Their profit ratio averaged 2.2 percent, up from 2 percent in 2005.

Chinese Retail: Market Sectors :-

Analysis of 3PL Markets in the Chinese FMCG Sector provides an overview of the 3PL market in the Chinese FMCG sector, analysis of the various segments of FMCG and their logistical needs, along with an analysis of key market drivers, restraints and trends that are impacting the 3PL market in the FMCG sector. Also an in-depth competitive analysis of the 3PL service providers to this sector is presented.

By Service Provider: International 3PL Domestic Major 3PL

Domestic Small 3PL

By Customer Constellations: Multinational FMCG Companies Domestic Major FMCG Companies

Domestic Regional Companies

Unorganized Companies

Personal Care Product Companies

Household Care Product Companies

Packaged Food & Beverages Companies

Wines and Spirits Companies

Tobacco Product Companies

Other Daily Use Product Companies

Market Overview: - Among Increasing Realization of the Benefits of 3PL FMCG Companies:-

While the fast moving consumer goods (FMCG) sector in China is the third largest industry sector in the country, China’s vast geographic size and regional variations in consumer habits and infrastructure conditions make it a challenge for FMCG companies to efficiently manage their supply chains. Logistics are, therefore, critical for ensuring a nationwide presence, and the realization of the benefits of third party logistics (3PL) has been fast increasing among all the domestic FMCG companies, Since all these chains prefer to use organized and professional logistics service providers, the growth of this sector is expected to drive future usage of 3PL services to a significantly higher level.

Leading Players in FMCG Market

The Indian FMCG sector is the fourth largest in the economy and has a market size of US$13.1 billion. Well-established distribution networks, as well as intense competition between the organized and unorganized segments are the characteristics of this sector. FMCG in India has a strong and competitive MNC presence across the entire value chain. It has been predicted that the FMCG market will reach to US$ 33.4 billion in 2015 from US $ billion 11.6 in 2003. The middle class and the rural segments of the Indian population are the most promising market for FMCG, and give brand makers the opportunity to convert them to branded products. Most of the product categories like jams, toothpaste, skin care, shampoos, etc, in India, have low per capita consumption as well as low penetration level, but the potential for growth is huge.

The big firms are growing bigger and small-time companies are catching up as well. According to the study conducted by AC Nielsen, 62 of the top 100 brands are owned by MNCs, and the balance by Indian companies. Fifteen companies own these 62 brands, and 27 of these are owned by Hindustan Lever. Pepsi is at

number three followed by Thums Up. Britannia takes the fifth place, followed by Colgate (6), Nirma (7), Coca-Cola (8) and Parle (9). These are figures the soft drink and cigarette companies have always shied away from revealing. Personal care, cigarettes, and soft drinks are the three biggest categories in FMCG. Between them, they account for 35 of the top 100 brands.

THE TOP COMPANIES IN FMCG SECTOR

S. NO. Companies

1. Hindustan Unilever Ltd.

2. DABUR INDIA.

3. ITC (Indian Tobacco Company)

4. Marico Industries.

5. Nestlé India

6. GCMMF (AMUL)

7. Cadbury (Craft Foods)

8. Procter and Gamble (P&G)

9. Britannia Industries

10. Glaxo Smith Kline (GSK)

HUL (Hindustan Unilever Limited)

Parent Company -

Unilever Limited

Category -

Consumer Products, Food & Beverages

Sector -

FMCG

Tagline/ Slogan - Small Actions, Big Difference

USP - India's largest fast-moving consumer goods company

STP - Segment- Products and services for daily needs

Target Group - Every Indian household especially the middle class

Positioning- Being the largest FMCG company , their little efforts make a huge difference in the lives of people

Product Portfolio : Brands

Consumer Products

1. Active Wheel 2. Cif 3. Comfort Fabric4. Domex 5. Rin 6. Surf Excel7. Vim 8. Aviance 9. Axe10.Ayush 11.Clear 12.Clinic Plus13.Close Up 14.Dove 15.Fair & Lovely16.Hamam 17. Lakme 18.Lifebuoy19.Liril 2000 20.Lux 21.Pears22.Pepsodent 23.Ponds 24.Rexona25.Sunsilk 26.Vaseline

Food & Beverages :

1.Brook Bond 2.TajMahal 3.Bru4.Kissan Jam 5.Kissan Squash 6.Lipton7.Kwality Walls 8.Kissan Ketchup

SWOT Analysis:

Strengths

1. HUL is a part of the Unilever group, hence strong brand equity

2. It has over 15000 employees

3. Reach 6.4 million retail outlets which includes direct reach to over 1.5 million retail outlets

4. Two R&D centres in India in Mumbai and Bangalore

5. Products with presence in over 20 consumer categories with over 700 million Indian consumers using its products

6. As a part of CSR, HUL has initiatives like project Shakti, plastic recycling, women empowerment etc.

Weakness

1. Market share is limited due to presence of other strong FMCG brands

2. HUL products has stiff competition from big domestic players and international brands

Opportunity

1. Tap rural markets and increase penetration in urban areas

2. Mergers and acquisitions to strengthen the brand

3. Increasing purchasing power of people thereby increasing demand

Threats

1. Intense and increasing competition amongst other FMCG companies

2.FDI in retail thereby allowing international brands

3. Competition from unbranded and local products

Competitors:

1. Marico

2. L'Oréal

3. Nirma Ltd

4. ITC

5. Colgate-Palmolive

6. Procter and Gamble

7. Dabur

HUL Shares -

Shares of Hindustan Unilever, India's largest consumer goods maker, traded with strong gains on the back of robust volume growth in the March quarter. At 10.50 am, shares of the company traded 2.65 per cent higher at Rs 428.65 on the NSE, while the Nifty index gained 0.5 per cent to 5,273. The stock made an intraday high of Rs 433.80 in early trade.

HUL reported a 21 per cent growth in net profit at Rs 687 crore in the fourth quarter ended March 31. Net sales grew 16 per cent to Rs 5,660 crore largely driven by price increases in soaps and detergents, which is the largest contributing segment for HUL. Sales at the home and personal care segment grew 24 per cent, while its foods business grew nearly 8 per cent.

For the fourth quarter, the company reported a volume growth of 10 per cent against estimates of 8-8.5 per cent. Operating margins in the quarter rose 170 basis points from a year ago.

The Indian unit of Anglo-Dutch conglomerate Unilever Plc said even though input cost pressures and currency fluctuations remain a risk, it has a clear strategy in place to boost its portfolio. Its cost of goods rose 80 basis points during the quarter.

Indian consumer goods makers are facing a difficult choice between raising prices and retaining market share as high inflation in home, personal care and food categories compress margins and price increases hurt volume growth.

Parent Company

ITC Limited

Category - Consumer Products, Hotels & Services

Sector - FMCG

Tagline/slogan - 100 Inspiring years; 100 years 1 mission India first

USP - ITC is rated among the World's Best Big Companies

STP -

Segment - Products and services for daily needs

Target Group - Every Indian household especially the middle class

Positioning - Enduring Value. For the Nation. For the Shareholder.

Product Portfolio :-

Brands

Consumer Products

1. Essenza Di Wills 2. Fiama Di Wills

3. Vivel 4. Superia

5. Classic 6. Gold Flake

7. Navy Cut

Food & Beverages

1. Sunfeast Milky Magic 2.Sunfeast Marie Light

3. Mint-O 4. Sunfeast Dark Fantasy

5. Sunfeast Bourbon 6. Bingo Chips

7. Sunfeast Yippie 8. Bingo Mad Angles

9. Bingo Tedhe Medhe

SWOT Analysis:

Strength

1. ITC has a strong and experienced management

2. Strong brand presence, excellent products advertising

3. Diversified product and services portfolio which includes FMCG, Hotel chains, paper & packaging and agri-business

4. Over 6500 E-Choupal CSR activities and sustainability initiatives enhance ITC’s brand image reaching over 4 million farmers

5. ITC limited employees over 25,000 people

6. Excellent research and development facilities

Weakness

1. ITC is still dependant on its tobacco revenues and people have cheaper substitutes and other brands

2.Hotel industry has not been able to create a huge market share.

\

Opportunity

1. Tap rural markets and increase penetration in urban areas

2.Mergers and acquisitions to strengthen the brand

3.Increasing purchasing power of people thereby increasing demand

4. More publicity of hotel chains to increase market share

Threats

1. Strict govt regulations and policies regarding cigarettes

2.Intense and increasing competition amongst other FMCG companies and hotel chains

3.FDI in retail thereby allowing international brands

Competitors :

1. Marico

2. L'Oréal

3. Nirma Ltd

4. HUL

5. Colgate-Palmolive

6. Procter and Gamble

7. Dabur

ITC Ltd : Company Highlights ITC Ltd. – A multi business conglomerate

Market View of ITC Ltd (as of 23/12/2011)Latest Stock Price: Rs. 203.95

Latest Market Cap: Rs. 157424.86 Cr. (Large Cap Stock)

52 Week High Stock Price: Rs. 216.10

52 Week Low Stock Price: Rs. 150

Latest P/E: 28.53

Latest P/BV: 8.40

ITC Ltd. is the largest tobacco company in India. It enjoys the leadership position in the Indian cigarette market with a market share of ~80% in terms of value. It is the owner of several renowned brands like Bristol, India Kings, Classic, Gold Flake, Navy Cut, Berkeley and Insignia. The company has over the last few years taken steps to establish itself in other FMCG categories. It has expanded its presence to foods, personal care and lifestyle retailing spaces. It also owns the second largest hotel group in India, accounting for 3000 rooms in the luxury segment. Further, it is also present in Paper and paperboard, and agri-business segments which provide backward integration benefits for its other businesses.

Cigarettes contribute close to 65% of ITC’s total gross revenues however owing to the high incidence of taxes, this segment amounts to ~50% of the revenue on a net basis. FMCG others segment has gradually increased its contribution over the years and is expected to be a major growth driver in the coming years.

The 10 YEAR X-RAY of ITC Ltd. shows that the financial performance of the company has been very good for the last 10 years except for a bit of a slowdown in FY 2009. With a monopolistic position in the cigarette business (the major revenue contributor) and addictive nature of the product leading to inelastic demand, Net Sales have registered a growth of more than 12% for most of the years.

Also, with this leadership position and a strong brand image, it has been able to pass on excise duty hikes by government to the consumers and thus maintained its margins. Infact cigarette EBIT margins have gone up from 21% in FY 2002 to close to 28% in FY 2011. Over the years ITC has also diversified into other businesses. This has led to a slight reduction in Operating Profit and Net Profit margins over the years; however with the other FMCG businesses showing good performance over the last 2 years and getting close to breaking even, margins have shown improvement in the last 2 years and are expected to improve further. ITC has thus shown good, consistent growth in EPS over the last 10 years and is expected to continue

it going ahead. With retention of close to 50% of its profits over the last 6 years, Book value per share has also shown good growth except in FY 2010 when company paid out special dividend. The cigarette business is a strong cash generator while cash consuming businesses like Lifestyle retailing, Personal care, Foods etc are slowly moving towards breaking even. This combined with very efficient working capital management has helped ITC’s strong cash generation.

In the Long term : Cigarette business expected to continue domination:-

ITC dominates the cigarette market with close to 80% market share in terms of value and around 70% market share by volume. The nearest competitor is Godfrey Phillips with a 10% value market share and VST Industries with a 5% market share. It owns some of the most popular and valuable brands like Wills Filter, Gold Flake Filter, Classic, India Kings, Scissors, Capstan and Bristol present across the different cigarette segments.

Improving performance of Non-cigarette FMCG businesses:

In FY 2010-11, the non-cigarette FMCG business (which includes packaged food, personal care, lifestyle retailing, stationery, safety matches and agarbatti) contributed 21% of ITC’s net revenues. This business has emerged as ITC’s largest revenue engine, clocking a growth of 35% CAGR. In 2010-11, the division clocked revenues of Rs. 4,482 Cr., up from Rs. 3,014 Cr. in 2008-09. More importantly, the company has been cutting its losses in the non-cigarette FMCG business to Rs. 297 Cr. in 2010-11 from Rs. 483 Cr. in 2008-09. The reasons behind this have been a favourable product mix, higher realisations and a combination of smart sourcing and cost saving across supply chain.

Typically, ITC enters any new category at the premium end, builds its brands, and then rolls out the mass range. It has followed a similar strategy for its non-cigarette FMCG businesses and this has yielded impressive results. The food business recorded its maiden profit last fiscal and the stationery product business is also close to being profitable. The personal-care business is also reducing losses despite the growing investment in new product launches and marketing.

Paper & Agribusiness presence provide backward integration benefits:-

ITC’s agribusiness and paper business provides backward integration benefits for its other businesses while also contributing to the profitability.

In the agribusiness part, ITC is involved in trading of agricultural produce, and is an active trader and exporter of commodities such as tobacco, wheat, soya, and coffee. ITC procures almost 50% of all the tobacco produced in India. Agri-products business of ITC is based on the company’s competencies created via association with the farmer, developed over the years via its e-Choupal program. It is now avoiding highly volatile products or products where frequent risk of government intervention is high and is instead concentrating on products like tobacco, wheat,

soya and coffee. This helps the company in sourcing raw materials (for FMCG business) with relatively higher control over input prices.

The paper and paperboards business of the company caters largely to industrial use and spans across a wide spectrum of applications such as packaging, graphic, communication and writing paper. ITC has a (value) share of 26% in the paperboard segment. This division provides inputs to the company’s FMCG businesses. It produces 65% of the total cigarette tissue in India contributing significantly to ITC’s requirement. It also provides finished products to the company’s stationary business along with packaging solution for its FMCG business.

Hotels business expected to show better performance going forward:

ITC operates the second biggest hotel chain in India, with over 3000 rooms in the luxury segment and 2400 rooms in the Fortune segment. FY 2009 saw ITC’s hotel operations suffer in-line with the broader industry performance due to the global economic downturn. Occupancies and Average Room Rates (ARRs) both declined significantly.

High competition in other FMCG businesses:

The other FMCG business segments such as personal care, foods, lifestyle retailing are still in the red and will face higher competition than cigarettes. In products like soap, the competition is expected to be even stiffer with leaders like HUL trying to protect their market share. This could affect earnings.

Dabur India Ltd. -

Dabur India Ltd is one of India’s leading FMCG Companies with Revenues of US$1 Billion (over Rs 5,000 Crore) & Market Capitalisation of US$4 Billion (Rs 20,000 Crore). Building on a legacy of quality and experience of over 127 years, Dabur is today India’s most trusted name and the world’s largest Ayurvedic and Natural Health Care Company.

Dabur India is also a world leader in Ayurveda with a portfolio of over 250 Herbal/Ayurvedic products. Dabur's FMCG portfolio today includes five flagship brands with distinct brand identities -- Dabur as the master brand for natural healthcare products, Vatika for premium personal care, Hajmola for digestives, Réal for fruit juices and beverages and Fem for fairness bleaches and skin care products.

Dabur today operates in key consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care and Foods. The company has a wide distribution network, covering over 2.8 million retail outlets with a high penetration in both urban and rural markets.

Dabur's products also have a huge presence in the overseas markets and are today available in over 60 countries across the globe. Its brands are highly popular in the Middle East, SAARC countries, Africa, US, Europe and Russia. Dabur's overseas revenue today accounts for over 30% of the total turnover.

Dobur product portfolio

Dabur Choose a Brand , Active Antacid Active Blood Purifier Almond Hair Oil , Amla Hair Oil Babool, Mint Fresh Gel Babool, Toothpaste , Badam Oil , Balm ,Double Action Balm Strong Burrst Capsico Chyawan Junior ChyawanPrakash Chyawanprash Dabur NUTRiGO Dazzl Glucose-D Gripe Water Gulabari

Face Freshener , Gulabari Moisturising Cream, Gulabari Moisturising Lotion, Gulabari Rose Wate,

Hajmola , Hajmola Candy , Hommade Honey , Honitus Cough Syrup, Honitus Lozenges Janma Ghunti, Lal Dant Manjan Lal , Tail Lemoneez Meswak Toothpaste, Promise Toothpaste, Pudin Hara, Real Red Toothpaste, Sanifresh Shankha, Thanda Oil Uveda 2-in-1 Moisturiser Uveda , Clarifying Face Wash, Uveda Complete Fairness Cream , Uveda Moisturising Face Wash, Vatika Black Shine Shampoo, Vatika Dandruff Control Shampoo, Vatika Enriched Almond Hair Oil, Vatika Enriched Coconut Hair Oil, Vatika Smooth & Silky Shampoo. Dabur India Limited has marked its presence with significant achievements and today commands a market leadership status. Its story of success is based on dedication to nature, corporate and process hygiene, dynamic leadership and commitment to our partners and stakeholders.

- Leading consumer goods company in India with a turnover of Rs. 2834.11 Crore (FY09)

- 3 Subsidiary Group companies - Dabur International, Fem Care Pharma and newu and 8 step down subsidiaries: Dabur Nepal Pvt Ltd (Nepal), Dabur Egypt Ltd (Egypt), Asian Consumer Care (Bangladesh), Asian Consumer Care (Pakistan), African Consumer Care (Nigeria), Naturelle LLC (Ras Al Khaimah-UAE), Weikfield International (UAE) and Jaquline Inc. (USA).

- 17 ultra-modern manufacturing units spread around the globe

- Products marketed in over 60 countries

- Wide and deep market penetration with 50 C&F agents, more than 5000 distributors and over 2.8 million retail outlets all over India

- Consumer Care Division (CCD) adresses consumer needs across the entire FMCG spectrum through four distinct business portfolios of Personal Care, Health Care, Home Care & Foods

Master brands:

- Dabur - Ayurvedic healthcare products

- Vatika - Premium hair care

- Hajmola - Tasty digestives

- Real - Fruit juices & beverages

- Fem - Fairness bleaches & skin care products

- 9 Billion-Rupee brands: Dabur Amla, Dabur Chyawanprash, Vatika, Réal, Dabur Red Toothpaste, Dabur Lal Dant Manjan, Babool, Hajmola and Dabur Honey

- Strategic positioning of Honey as food product, leading to market leadership (over 75%) in branded honey market

- Dabur Chyawanprash the largest selling Ayurvedic medicine with over 65% market share.

- Vatika Shampoo has been the fastest selling shampoo brand in India for three years in a row

- Hajmola tablets in command with 60% market share of digestive tablets category. About 2.5 crore Hajmola tablets are consumed in India every day

- Leader in herbal digestives with 90% market share

- Has more than 300 products sold through prescriptions as well as over the counter

- Major categories in traditional formulations include:

- Asav Arishtas

- Ras Rasayanas

- Churnas

- Medicated Oils

- Proprietary Ayurvedic medicines developed by Dabur include:

- Nature Care Isabgol

- Madhuvaani

- Trifgol

Division also works for promotion of Ayurveda through organised community of traditional practitioners and developing fresh batches of students

Growing at a CAGR of 33% in the last 6 years and contributes to about 20% of total sales

Leveraging the 'Natural' preference among local consumers to increase share in perosnal care categories

Focus markets:

- GCC

- Egypt

- Nigeria- Bangladesh- Nepal- US

High level of localization of manufacturing and sales & marketing

SWOT Analysis of Dabur India-

Strengths

Dabur India is the fourth largest company in FMCG segment with a revenue of US$ 910 Millions.

Dabur has its own heritage, it is more than 100 years old , established in the year 1884.

It has presence in around 60 countries across the world.

It is the world’s largest ayurvedic medicine provider .Dabur has extensive distribution service network with 50 carrying & forwarding agents.

Dabur has the largest distributors in its respective segment, around 5000.

The top performing five master brands are Dabur , Vatika, Hajmola, Real, Fem

It has 17 sophisticated manufacturing facilities

The product length includes around 300 prescribed products and few of them are sold over the counter

Dabur product categories include health care, personal care, foods, home care, consumer health – OTC/ethical, professional range

Weaknesses

Dabur doesn’t have direct company outlets

Lack of awareness of products by customers

Doctors prescribe allopathy medicines as they get more incentives from medical companies and the share of ayurvedic companies are less compared to allopathy

According to a survey the number of registered practitioners in Ayurveda is less than 3.7 lacks which is a meager figure compared to allopathy doctors

Ayurvedic medicine takes time to cure compare to allopathy medicine.

Opportunities

Dabur is the world’s largest ayurvedic medicine and its export quantities are constantly in demand in foreign market.

The affinity towards yoga and Hinduism is proving more advantageous towards the reach of ayurvedic medicines globally.

People have started realizing that ayurvedic medicines like Dabur, Himalayas etc doesn’t have much of side effects

Growing women’s earning power has made them independent and has made them to be more health and beauty conscious – a segment in which Dabur too is trying to capitalize with its products

Improper and unhealthy food habits due to modernization has forced people to take ayurvedic supplementary like Chavanaprash, Hajmola, and life style medicines

Ayurveda as a field is receiving much more attention across the world in the last 2–3 years. Thus huge opportunity for Dabur to capitalize on the market sentiments.

Threats

The allopathy players are of major threat as they invest heavily on advertising and distribution of their products through medical representatives etc

Some ayurvedic doctors give their own medicines or give a mixture of Ayurvedic Company’s product without packaging (loose medicines). This reduces the sales in the market and dilutes the brand image

Since ayurvedic medicinal practice is obtained traditionally there are many untrained professions who take up the profession

Lead and ferric content is more present in many ayurvedic medicine, this may sometime result in reverse side effects when consumer over longer period

Kerala is an ayurvedic hub, for most of the treatments. Hence people visit directly and attend health camps to get cured

Nestlé -

It is the world's largest nutrition, health and wellness company. Founded and headquartered in Vevey, Switzerland, Nestlé originated in a 1905 merger of the Anglo-Swiss Milk Company, established in 1867 by brothers George Page and Charles Page, and Farine Lactée Henri Nestlé, founded in 1866 by Henri Nestlé.

The company grew significantly during the First World War and again following the Second World War, eventually expanding its offerings beyond its early condensed milk and infant formula products. About 28 of Nestlé's brands bring in more than 1 billion Swiss francs (about $ 1.1 billion) annually[3], such as Nespresso, Nescafé, KitKat, Smarties, Nesquik, Perrier, Vittel and Maggi. Nestlé is also one of the main shareholders of L'Oréal, the world's biggest Cosmetics and personal care company.[4]

In 2011, Nestlé was listed No. 1 in the Fortune Global 500 as the world's most profitable corporation.[5] The company has 449 factories, operates in 86 countries around the world, and employs over 328,000 people.

Nestlé brands:

Nestlé has some 6,000 brands,[16] with a wide range of products across a number of markets, including coffee (Nescafe, Nespresso, etc.), bottled water (Buxton, Perrier, Vittel, Aquarel etc.), milkshakes and other beverages (Nesquik, Milo, Carnation, etc.), chocolate (Milky Bar, After Eight, etc.), ice cream (Häagen-Dazs, Skinny Cow, etc.), breakfast cereals (Golden Nuggets, Shreddies, etc.), infant foods (now including Gerber products), performance and healthcare nutrition (Nesvita, PowerBar, etc.), seasonings, soups and sauces (Maggi, Buitoni, etc.), frozen and refrigerated foods (Findus, Lean Cuisine, etc.), confectionery (Rowntree products, Caramac, Wonka products, etc.), and pet food (Winalot, Felix).

Nestlé’s GROWTH Summery -

Nestlé has recorded 7.1% growth for its confectionery business in its first quarter (Q1) results released today driven by emerging chocolate markets such as Latin America and Asia.

Overall performance

Nestlé’s Q1 sales were up 7.2% to €17.8bn (CHF 21.4bn) compared to the same quarter last year.

The company grew in the Americas by 6.8% and 3.4% in Europe compared to 12.2% in Asia, Oceania and Africa.

Recent acquisitions, such as the $1.7bn buy of Chinese confectionery firm Hsu Fu Chi, were said to have added 3% to sales.

Growth in confectioner;-

Nestlé’s confectionery category, which includes brands, such as KitKat, Smarties and Aero, achieved 7.1% growth during the quarter taking sales to €2.1bn (CHF 2.5bn).

Of Nestle’s seven product segments, confectionery is the sixth largest in terms of sales, behind beverages, dairy, prepared dishes, pet care, and nutrition.

All these categories also outpace confectionery in terms of sales growth.

The company said that chocolate growth was strong in Latin America helping the region achieve double digit growth overall, with Brazil and Mexico the highlights.

Asia, Oceania and Africa also saw double digit growth in chocolate, with KitKat performing strongly in Japan.

SWOT ANALYSIS ON

Nestle -

Nestle is the largest consumer packaged goods company in the world Company, which was founded in 1866 by Henri Nestlé. The company grew significantly during the First World War and following the Second World War, eventually expanding its offerings beyond its early condensed milk and infant formula products. Today, the company operates in 86 countries around the world and employs nearly 283,000 people.

Strengths -

* High market share

* Size and financial power

* Strong brand portfolio

* wide range of products

* Ability to customize global products & brands to local preferences

* Operational efficiency

* Strong R&D

* Geographically diverse of the major food and beverage companies

* Noor the SOOOOR KA BILLAH

Weaknesses -

* Limited presence in organic foods market

* Unwillingness to divest weaker brands

* Lack in retail presence

Opportunities -

* Integration of new acquisitions in growth markets (i.e., RKF in Russia, Henniez)

* Growth in international & emerging markets

* Transition to a "nutrition and well-being" company

* Continuous growth in the US coffee market

* Ethical business activities and support in community

* Fair Trade argeements for cocoa and other products produced in third world countries

Threats -

* Private label growth

* Allegations of unethical business activities

* Increased competition in bottled water from niche brands

* FDA regulations.

FMCG in Indian Rural Market :-

Rural India accounts for more than 700 million consumer or ~ 70 per cent of the India population and accounts for ~ 50per cent of the total FMCG market. The marketing rural population is approximately 400 million there is an untapped market and most of the FMCG companies are taking different steps to capture rural market share. The market for FMCG products in rural Indian market is ~52 per cent and is projected to touch ~60 per cent within a year

Noodles, macaronis and soft-drinks made rapid inroads into the rural markets driving up growth in the fast moving consumer goods (FMCG) industry - 10% by volume and 12% by value - in the first ten months of 2011. The consumption story for most part of last year dispelled slowdown fears as Indian rural households piped urban counterparts in growth sweepstakes , said market research agency IMRB (Indian Market Research Bureau).

The urban FMCG market, on the other hand, grew 4% by volume and 7% in value and was led by categories such as ready-to-eat mixes, deodorants, breakfast cereals and soups. Growth for personal care products such as toilet soaps, shampoos and household products stagnated compared to last year, while F&B space saw a healthy growth. The IMRB survey is conducted across 30 product categories.

Sector analysts said the F&B market witnessed hectic action in rural India with players like ITC and Hindustan Unilever (HUL) leveraging their distribution muscle to push products in this category. ITC's Sunfeast noodles and HUL's Knorr brand of soups have been able to penetrate the hinterland leading to increase in the category reach.

"In the F&B market we are seeing the share of rural markets grow. Packaged fruit juices have traditionally been a very urban market product, but with growing health awareness among rural consumers, we are witnessing a marked growth in demand. To cater to this demand, Dabur has already expanded the distribution footprint for juices to cover smaller cities," said George Angelo, sales executive director, Dabur India, maker of Vatika shampoo and Real fruit juice. The FMCG biggie saw its personal, oral care and health supplements report strong growth in the rural markets.

While the low-penetrated products in the F&B space witnessed good growth, detergents, washing soaps stagnated volume wise. "Due to lower rural reach household care categories such as floor cleaners, household insecticides are showing faster growth. But foods especially staples such as cooking maida, atta/wheat which are driving the growth in volumes," said Manoj Menon , group business director at IMRB International.

In the urban market emerging categories, noodles, macaroni, vermicelli grew 20% in terms of volume, while ready-to-cook mix products saw a whopping 64% growth and soups grew by

20%. In the personal care category, which largely remained stagnant in the urban market, deodorants saw a 31% growth.

"Because of healthy disposable income growth and lower absolute spends on FMCG products it hasn't impacted the consumption yet, however if there is uncertainty around income growth risks of down trading exist," said Gautam Duggad, an analyst at domestic brokerage firm Prabhudas Lilladher. Most industry players said they haven't seen any palpable signs of down trading yet. "Directionally there is no slowdown in the market but there could be some cut back in the next few quarters on discretionary items by consumers. The impact will be felt in the top-end product categories and non-essentials," said Saugata Gupta, CEO, and Consumer Products at FMCG major Marico.

Key Financials

Company Hindustan Unilever Ltd. ITC

Year 2009 2010 2011 2009 2010 2011

Sales 21,649.51 18,220.27 20,305.54

EBDITA 5393 6689 7972

EBIT 4844 6080 7316

PAT 2,500.71 2,102.68 2,153.25 3264 4061 4988

ROCE (%) 107.5 103.7 87.5 35.1 40.9 46.0

ROE (%) 25.3 29.2 33.2

Opportunities Ahead:o Changing Consumer Profile:-

Possibly the most challenging concept in the marketing is to deal with understanding the

consumer behavior. The synthesis of this research paper is based on the secondary data sources

as well as the observation of buying behavior of consumers. He wants to live in present and does

not believe in savings for the future. An important and recent development in India’s

consumerism is the emergence of the rural market for several basic consumer goods.

Changing Retail Landscape:

Combine this with the emergence of technology based trends including; the

huge projected increase in online the challenge to apportion investment in physical

retail presence and virtual real estate, and matching this to changing markets moving

forward is a major challenge.

This requires a management team with a deep understanding of the

fundamentals that are unique to the retail industry but who are also forward thinking and

skilled to adapt these to the changing retail landscape in the physical and virtual arenas.\ The retail market size in India is estimated to be around $180 billion. Retailing provides jobs to almost 15 percent of employable Indian adults. For Indian retailing, things started to change slowly in the 1980s, whenIndia first began opening its economy. Textiles sector (which companies like Bombay Dyeing, Raymond's, S Kumar's and Grasim) was the first to see the emergence of retail chains. Later

on, Titan, maker of premium watches, successfully created an organized retailing concept in India by establishing a series of elegant showrooms.

TRENDS IN RETAILING:- Modern retail formats –

We're seeing many bigger boxes, value based formats setting up shop. The size of these stores is about 50,000 square feet, a departure from the smaller mom & pop-type store that dominates the local retail landscape• Shoppers' Stop - department store format• Westside - emulated the Marks & Spencer model of 100 per cent private label, very good value for money merchandise for the entire family.• Giant and Big Bazaar - hypermarket/cash & carry store• Food World and Nil irises – supermarket format• Pantaloons and The Home Store - specialty retailing• Tanishq has very successfully pioneered a very high quality organized retail business in fine jewelers

Retailing in India is still evolving and the sector is witnessing a series of experiments across the country with new formats being tested out; the old ones tweaked around or just discarded. Crossword bookstores are experimenting with Crossword Corner, to increase

reach and business from their stores. Food World is experimenting with a format of one-fourth the normal size called Food World Express.

Category Trends:1. Focus on Health:

Companies are widening their health food portfolio to cash in on the rich, urban, health conscious Indian. In recent we have seen flurry of products in this segment. Have a look of some of them:

2. Impact of Inflation: The expenditure of FMCG in the consumer's wallet is coming down year on year. This is leading to low sensitivity with price increases. Almost a decade back people use to downtrade fromexpensivebrands to value for money ones. Just to give you an example, Henkel instead of increasing the price of their Henkel detergent from Rs. 46 to Rs. 50, they have launched a new SKU of 400gms for Rs. 40.

3. Micro Segmentation/ Niches:It’s interesting and funny to see that companies are not leaving any opportunity to micro segment the market. I can foresee that we are here to see further segments in different categories.

s 4. Jet Age Consumer Products: : Because of changing lifestyles, busy jobs etc marketers are coming up with Jet Age consumer products.

5. Low Per Capita Consumption :

Currently we are nowhere near to other developing countries in terms of per capita consumption. Be it Laundry, Skin Care, Shampoos or deodorants. Marketers have put in efforts to increase the consumption frequency or quantum of consumption per occasion. Colgate started the "twice a day" campaign few years back. Recently we have Good Night coming up with Double power pack.

Role Of Global Media: This is a fantastic opportunity to work for the world leading and fastest growing FMCG companies globally. The role's focus will be on developing prioritizing and leading new media and marketing initiatives as well, as providing high quality support to local and regional business teams to plan and buy media and interpret media research results. You will interact with Media agencies and media directly and be the interface between Global Media Team and AME Regional Corporate Office.