taste and preferences for biscuits
TRANSCRIPT
Taste And Preferences for
Biscuits
Group Members
Muzamil Haqmal
A-22
Noopur Seth
A-19
Sahil Sachdeva
A-24
Palaka Subhash
A-20
Contents of the case study
Summary of the caseIntroduction to Indian biscuit industryAnalysis of the case (ideas) Real Life application of Concepts Questions of the case and their answers Conclusions
References
Summary of the case study
While doing the demand analysis it is almost mandatory to study factors like consumer’s income, price of related goods and expectation about the future.
The Indian market till recently was a seller market where the product and the market dictated the terms of the trade to the customer. But the things are not the same today with open competition it has become a buyers’ market.
For the consumer non-durables like cold drink, snacks marketers realized that the market demand is governed more by consumer preference than price or income of the product. Biscuit are a good example of one of the most common and popular snack. The organized Biscuit industry is controlled by two major players Britannia holding 40% market share and Prale holding 30% market share.
Introduction to Indian Biscuit Industry
Profile of Indian Biscuit Industry: Indian biscuit industry came in to major existence and start
gaining in a sound manner in bakery industry in the later part of 20th century when the urbanized society called for a ready-made food at a reasonable cost.
Biscuit industry in India 1. Organized Sector2. Unorganized Sector Major Players in Indian Biscuit Industry:1. Britannia Industries Ltd 2. Parle Products Pvt. Ltd3. Priya Gold 4. ITC
Market Share
33%
31%
13%
3%15%
1%3%Market Share as per year 2015
BritanniaParleITCPriya GoldOthersHorlickKraft
Analysis of the case (ideas)• Completeness • Transitivity• Non-satiation
Role of taste and preferenc
es• Durables goods • Non-durable goods
Demand For Goods
and services
• Buyer’s Market• Seller’s Market
Types of market
• Population of the country• Biscuits are Consumed by all the segments of the market.
• Agriculture based industry:• Mass consumer segment
Economies of scope
Strategy and competition in biscuit in industry
Rivalry of
competitors
in indust
ry
Bargaining
power of
supplier
High power
of buyer
High threats
of substit
utes
Low Entry
barriers becaus
e
Main Issues related to the Case
Variation in taste & preference pattern
Taste and preference for innovative product
Increase in the price of raw materials
More amount of taxes to the government
Solutions and recommendationPerform a detail demand survey at regular interval
Free arrangement for customer’s feedback & suggestionsFocus to bring some more flavors and variety of schemes knowledge about its primary competitors in market
Attractive system for advertisement Undertaking promotional activities to increase awareness
Practical life application of concepts
Market segmentation ConceptTaste and preference concept
Economics of scope concept
Questions of the Case And their answers
Do you think taste and preferences is an equally important demand determinant for consumer durable goods and capital goods as it is for non-durable consumer good?
Questions of the Case And their answers
What are the other attributes other than taste and preferences the two market leaders in the biscuit industry are considering?
Questions of the Case And their answers
Is there any market segmentation as for as taste and preferences is concerned in biscuit industry?
Questions of the Case And their answers
Discuss the “taste and preferences” of modern Indians how is Britannia catering to it? Is Parle at par with its rival while catering to the taste and preferences of urban consumer?
Conclusion That Britannia Biscuits has gained acceptance by
the customer and has huge potential to expand its market share and become leaders in few of its biscuits category Britannia is most popular amongst its users mainly because of its taste, brand name and innovativeness
In today’s scenario, customer is the king because he has got various choices around him. If the company is not capable of providing consumers the desired result then the consumer will definitely switch over to the competitor. Therefore to survive in this cut throat competition, the company needs to be the best. .
References 1. Cooper Donald R. & Shindler Pamela S,
“Business Research Methods”2. Managerial Economics: Cases and Concepts By:
Sumitra Pal3. Kotler Philip, “Marketing Management”. The
eleventh edition published by Pearson Education Singapore, Pvt. Ltd, 2009
4. http://www.blog.sanasecurities.com/britannia-industries-stock-analysis/
5. http://parle.espwebsite.com/6. http://britannia.co.in/7. http://business.mapsofindia.com/india-industry
/biscuits.html