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PROJECT REPORT
ON
“RETAILER SATISFACTION FOR BALAJI WAFERS PRIVATE LIMITED – An Empirical Study in Sabarkantha ”
Submitted to C K SHAH VIJAPURWALA INSTITUTE OF MANAGEMENT IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION Under Gujarat Technological University UNDER THE GUIDANCE OF Faculty Guide Company Guide Ms.Hetal Thakar Mr.Jay Sachdev Asst. Professor Sales Representative Submitted by Hemant Purohit Enrolment No. 167050592074 M.B.A – SEMESTER III C K SHAH VIJAPURWALA INSTITUTE OF MANAGEMENT M.B.A PROGRAMME Affiliated to Gujarat Technological University Ahmedabad July 2017
Company Certificate
ACKNOWLEDGEDMENT
If words are signs of gratitude then let these words convey the very same. My sincere gratitude to Balaji Wafers for providing me an opportunity to work with them and giving necessary directions on doing this project report to the best of my abilities.
I am highly grateful to MR. Jay Sachdev Balaji Wafers, India. Company Guide, who had provided me with the necessary information and for the support extended out to me in the completion of this project report and their valuable suggestions and comments on bringing out this project report in the best way possible.
I am thankful to my Faculty Guide Hetal Thakar, Associate Professor, CKSVIM, for assisting us in every way to prepare this report and providing her valuable knowledge and guidance to improve my project.
Moreover, I am grateful to “C K SHAH VIJAPURWALA INSTITUTE OF MANAGEMENT” for giving me this opportunity.
DECLARATION
I, HEMANT PUROHIT, hereby declare that the report for “Summer Internship Project” entitled “COMPREHENSIVE STUDY OF Relationship Between Dealer and Retailer of Balaji Wafers Pvt. Ltd ” is a result of my own work and my indebtedness to other work publications, references, if any, have been duly Acknowledged.
Place: Vadodara (Signature)
Date: Hemant L. Purohit
TABLE OF CONTENT
SR.NO. PARTICULARS PAGENOS.
Preface 3 Acknowledgement 4 Declaration 5 Executive Summery 6 PART–I GENERAL INFORMATION
1
1.1 About the Industry & History 8 1.2 World Market 8 1.3 Indian Market 11 1.4 Growth of Industries 16 2 2.1 About major Companies in the Industry 19
3 3.1 Company Profile^26 3.2 Product Profile (^31)
4.1 Literature Review 38 4.2 Field work 43 4.3 Problem Statement and Importance of the Study 44 4.4 Objectives of the Study 45 4.5 Importance of Study 46
Research Methodology (^47) 5.1 Research Design 5.2 Source(s) of Data 5.3 Data collection method 5.4 Population 5.5 Sampling Method 5.6 Sampling Frame 5.7 Sample Size 5.8 Data collection Instrument 5.9 Research Tools (^6) Data Analysis and Interpretation 48
(^7) Results and Findings 59
(^8) Limitations of the Study 60 9 Conclusion/Suggestions 61 Bibliography 62 Annexure 63
CHAPTER – 1
1.1 & 1.2 INDUSTRY OVERVIEW & HISTORY: SNACKS & WORLD MARKET
The Snacks Industry is a mature sector and includes companies that market Packaged items. Since growth opportunities are few compared to existing business, many members of the industry endeavor to diversify their offerings to better compete and gain share. Too, they may pursue lucrative distribution arrangements and/or acquisitions to expand their operations, product portfolios, and geographic reach.
Market Insights
Global consumers spent $374 billion on snack foods annually between 2013 and 2014, a year- over-year increase of 2%, according to a new global report released today. While Europe ($ billion) and North America ($124 billion) make up most worldwide snack sales, annual snack sales are growing faster in the largely developing regions. Asia-Pacific ($46 billion) and Latin America ($30 billion) increased 4% and 9%, respectively, while sales in the Middle East/Africa ($7 billion) grew 5%.
The major trend in the snack food market in the last five years has been the introduction of new products with a focus on functional ingredients. Given the major breakthroughs in terms of product innovations and assortment, the global market for snack food is expected to reach USD 630 billion by 2022, growing at a CAGR of 5.8%.
Mondelez has a new product in its portfolio, savoury biscuit brand Vea. The brand includes crunch bars, crisps and seed crackers, with no artificial ingredients, trans-fats, colours or flavours. They have various flavours like Thai coconut, Tuscan herbs, Peruvian Sweet potato, etc.
spread of western eating habits to the developing world and growing urbanization have helped in better market penetration for the global players in the developing nations of Asia-Pacific and South America. Among countries, the United States continues to be the largest market, accounting for one-thirds of the total. Japan and the United Kingdom together account for one- fourth of the Global snack food market share.
Competitive Environment
The competition in global non-alcoholic beverages market is reported to be huge mostly in the developed world, such as the North America and European region. T The competition in the global snack food market is reported to be huge mostly in the developed world where many snack food manufacturing companies are operating to serve the limited population. The growth opportunity in the growing region of Asia-Pacific is catered by most of the big house players. The booming retail sector, increasing penetration of international brands and distinctive distribution channels adopted by players are expected to help the market grow at a continuous pace. Product launches and mergers & acquisitions with smaller level players have been the proven strategies for market growth. Kellogg‟s entered the global snack food market with the purchase of Pringles.Some of the major global players operating in the industry are:
Calbee Inc. ConAgra Foods Inc. Ferrero S.P.A. General Mills Inc. Nestle The Kraft Heinz Company Tohato Inc. (Japan)
1.3 INDIAN MARKET
After 1995, India has seen a massive change in Snack food market. The meaning of snack has
been redefined from chips and cookies to beverages, mini-meals and even three items on the plate. There is a rise in demand of snacks market which drives manufactures to grow and
operate in this segment lucratively.
Due to the busier lifestyle in the recent past, the demand for convenience products has
increased a lot with the thrust of packaged food in India. With the advancement of technology, urbanization, increase in purchasing power, growth in female work population, expansion of
nuclear families has augmented the business of the packaged snack food and attracted a large mass toward the snack market in India. To save time, people are gradually shifting to ready to
eat food items.
And the growth rate of the packaged food market has been remarkable in last five years. The food industry has expanded at the rate of 15.6% over the last few years. The consistent growth
rate presently outlooks for driving growth in future too.
which would require time and persistence. Healthier and tastier snack is still needed to raise the
demands.
So, the leading players in this segment are taking relevant steps to retain, sustain and grow in the market. They are trying their level best with various innovative options, tastes and flavours in
the industry meeting the expectations of Indian consumers.
TOP 10 BEST NAMKEEN COMPANIES/BRANDS IN INDIA 2 017
Namkeen foods in India are initially a homemade product which has been replaced by packaging items by numerous numbers of companies. The cheap and quality Namkeen snacks are invariant in nature such as cheese balls, leher Kurkure, Cheetos, leher Namkeen‟s, corn puffs, nut yumz, protein crispies, potato rackets and much more. In total, the snacks are available in more than 1000 items in Indian market while branded products only consist of 40 % share. The leading market brands for Namkeen products are enlisted below.
10. MKS Foods
It is one of the leading manufacturers of Namkeen foods across the country. This is Coimbatore based Namkeen Manufacturer Company whose products ranges wide items for customer demand. The varieties of Namkeen‟s that are produced by this food industry are such as navrattan mixture, Bombay mixture Namkeen, garlic mixture Namkeen‟s and much more.
9. Confectionery Manufacturers
This specific food industry avails the products of many Namkeen items. Apart from Namkeen‟s it is well known for all other sweets, snacks and sherbets also. It supplies to the length and breadth of the country various Namkeen items such as Shahi kofta, dhokla, raj kachori, paneer roll, mirch pakora, dahi vada, kachori sabzi, and so on.
8. Maakhan Bhog
Maakhan Bhog is the familiar brand of snacks and sweets in India which have the widest network for distributing the products. The manufacturing plant is in Surat, Gujarat. It has become one of the leading trackers of snack foods producing wide range of Namkeen items such as samosa kachori, potli samosa, bikaneri bhujia, Chiwda, Maida Namkeen‟s, khaman sandwich and lots more.
7. Punjabi Chandu Halwai
This food manufacturer company is familiar for producing traditional snacks which have captured the market in India as well as in abroad. This is one of the finest companies of Namkeen foods in India, which has its large distribution network across the country. The famous Namkeen products of this company are dal month, special Chiwda, aloo bhujia, cornflake Chiwda, Bombay mix, Kashmiri moong dal and much more.
6. Anamika
In the world of low diet namkeens, Anamika is the famous brand which is founded in the year of 1999 in Mumbai. The respective company is following strictly the quality of foods and the ingredients that are used for manufacturing. This company caters various delicious Namkeen items such as aloo lachha item which is available in market in plain, salted, masala, kalimiri flavor. Apart from this, Anamika mixture, mung mogar kalimiri, Chana gud, wheat mixture, Kashmiri makka, pudina dal, bajra mixture and much more.
5. Bikanervala Foods Private Ltd
Bikanervala Foods Private Ltd was launched in the year of 1950 to export their family products across the whole country. With the introduction of Namkeen items in their manufacture food lists they have won millions heart with its delectable taste and variety. Its Namkeen items are popular because of its long shelf life and high-quality taste. Its products include aloo bhujia, bhakar badi, badam lachcha, chatax, monng dal, mini kachori, khatta meetha, kaju mixture and much more.
4. Kaleva India
Kaleva is one of familiar names in the world of namkeens foods in the Indian market. It is situated in Delhi and widely known for around 500 Namkeen products. The products also include less spicy items of Namkeen for children as well as non-fried foods for health-conscious public. Products are available in various flavors and shapes such as spicy, salty, matthi, and sweet & sour. It covers dal moth, Chana jor, navrattan mix, spicy aloo wafers and lots more.
1.4 Growth of Industries
Fast Moving Consumer Goods (FMCG) sector is characterized by strong MNC presence and a well-established distribution network. In India, the easy availability of raw materials as well as cheap labor makes it an ideal destination for this sector. There is also intense competition between the organized and unorganized segments and the fight to keep operational costs low.
Due to this intense competition coupled with good enough growth in the sector, it requires huge number of human resource year on year.
Fast Moving Consumer Goods (FMCG) goods are all consumable items (other than groceries/pulses) that one needs to buy at regular intervals. These are items which are used daily, and so have a quick rate of consumption, and a high return. FMCG can broadly be categorized into three segments which are:
- Food and Beverages as snacks, processed foods, tea, coffee, edible oils, soft drinks etc.
Global leaders in the FMCG segment are Nestlé, ITC, Hindustan Unilever Limited, Reckitt Benckiser, Unilever, Procter & Gamble, Coca-Cola, Carlsberg, Kleenex, General Mills, Pepsi, Gillette etc.
The burgeoning middle class Indian population, as well as the rural sector, presents a huge potential for this sector. The FMCG sector in India is at present, the fourth largest sector with a
total market size more than USD 13 billion as of 2012. This sector is expected to grow to a USD 33 billion industry by 2015 and to a whooping USD 100 billion by the year 2025.
Growing awareness, easier access, and changing lifestyles have been the key growth drivers for the sector. Rural demand is set to rise with rising incomes and greater awareness of brands.
There are number of factors that will drive future growth in this sector. Increasing rate of urbanization, expected to see major growth in coming years will give a big push to this sector. Moreover, rise in disposable incomes, will lead to premium brands having faster growth and
deeper penetration.
Innovative and stronger channels of distribution to the rural segments are also giving a big push to this sector in terms of deeper penetration. Moreover, the icing on the cake is the increase in
rural non-agricultural income and benefits from government welfare programme resulting in increased purchasing power.
Innovation in FMCG is a wide concept which aside from creating, launching and marketing new products also includes improving shopping processes, providing consumers with a range of tools to purchase products as also ensuring that the entire organization is focused on the singular goal of improving the customer‟s overall experience. Therefore, in all functions like marketing, Finance, HR, IT, operations and strategy, there is a demand for talent by FMCG companies.
Graph No.1 Food and Beverages Market in India
CHAPTER – 2
2.1 Major Companies in the Industry
1. FRITO-LAY
Lay's is the brand name for many potato chip varieties as well as the name of the company that founded the chip brand in the U.S. in 1932. Lay's has been owned by PepsiCo since 1965. Lay's is the company's primary brand except for limited markets where other brands are utilized (Walkers in the United Kingdom and Ireland, Smith's in Australia, Chipsy in Egypt, Poca in Vietnam, Tapuchips in Israel, Margarita in Colombia, Sabritas in Mexico and, formerly, Hostess in Canada). It is also called Frito-Lay.
In 1961, the Frito Company founded by Derrick Lothert and Lay's merged to form Frito-Lay Inc., a snack food giant with combined sales of over $127 million annually, the largest of any manufacturer.
Shortly thereafter, Lays introduced its best-known slogan "betcha can't eat just one." Sales of the chips became international, with marketing assisted by many celebrity endorsers.
In 1965, Frito-Lay merged with the Pepsi-Cola Company to form Gopal Snacks, Inc. A new formulation of chip was introduced in 1991 that was crisper and kept fresher longer. Shortly thereafter, the company introduced the "Wavy Lays" products to grocery shelves. In the mid to late 1990s, Lay's introduced a lower calorie baked version and a variety that was completely fat- free (Lay's WOW chips containing the fat substitute olestra). In the 2000s, kettle-cooked brands appeared as did a processed version called Lay's Stax that was intended to compete with Pringles, and the company began introducing a variety of additional flavour variations. Frito-Lay products currently control 59% of the United States savoury snack-food market
.
2. CALBEE INC.
Calbee is a major Japanese snack food maker. It was founded on April 30, 1949. It launched operations at a new plant in the United States for making its mainstay products "Kappa Eisen" shrimp chips and "Saya-endo" snow pea crisps on September 18, 2007. Its snacks are hugely popular in Asia, and are well known in the United States. Its headquarters are in the Marunouchi Trust Tower Main in Marunouchi, Chiyoda, Tokyo. Calbee sponsored the Tyrrell Racing F1 team from 1990 to 1994, when Japanese drivers Satoru Nakajima and then Ukyo Katayama drove for the team.
The company was also one of the sponsors for the anime, Tiger and Bunny. Alongside DMM.com, they sponsored the character of Dragon Kid.
3.PRINGLES(P&G)
Pringles were initially sold in 1967 and became nationally distributed across the US in 1975, and internationally from 1991 onwards. P&G wanted to create a perfect chip to address consumer
