Analyzing Consumer Behaviour in Context of New Product Launch
Analyzing Consumer Behaviour in Context of New Product Launch
Analyzing Consumer Behaviour in Context of New Product Launch
FOR
BY
BHARAT SRIVASTAVA
A-13
2012-2014
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ACKNOWLEDGEMENT
“For any successful work, it owes its thanks to many”
(Bharat Srivastava)
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DECLARATION
I was in regular contact with the nominated faculty guide and contacted Prof. Abha
Grover several times for discussing the project.
(Bharat Srivastava)
Faculty’s Comments :
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TABLE OF CONTENTS
1 ACKNOWLEDGEMENT 04
2 DECLARATION 05
3 EXECUTIVE SUMMARY 07
6 LITERATURE REVIEW 19
7 RESEARCH METHODOLOGY 21
11 CONCLUSION 34
12 LIMITATIONS 36
13 SUGGESTIONS 37
14 BIBLIOGRAPHY 38
15 ANNEXURE 39
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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has been withdrawn at the end of this project.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.
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INTRODUCTION & COMPANY PROFILE
BIKANERVALA
Today,
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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.
Bikanervala’s concept always has been to innovate and yet maintain the original
flavour of traditional Indian food with primary focus on quality, hygiene and
affordability.
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BIKANO
Bikano’s 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.
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BIKANO CHAT CAFÉ
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.
VISION
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MANUFACTURING
PRODUCTION
PACKAGING
QUALITY CONTROL
PRODUCTION
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.
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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.
PACKAGING
Bikano 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 CONTROL
Every product that comes out of Bikano’s factory is passesthrough stringent
quality checks before it reaches the customers.
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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.
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PRODUCTS
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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.
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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.
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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.
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.
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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.
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.
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RESEARCH METHODOLOGY
This section indicates what is to be researched and also shows which method is to be
adopted for the research methodology.
Problem Statement
Introduction to Research:-
The following methodology will 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.
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Research Design:-
This section carries out the topics such as research sector, research population and
instruments used for the research.
Research Sector
Researcher 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 Population
Research 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 Instruments
Research instruments used to find out the solution of the research problem are:
1. Questionnaire
2. Sensory Evaluation form
Sampling Techniques
Random sampling method is used so each population can get equal and fair chance
of being selected.
Sample Size
Sample size taken for the study is 50+
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Source of Data
As 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 Analysis
The 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 method
Graphical method
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Data analysis
Q1. Do you purchase packaged food products?
Percentage
Yes
No
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.
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Q2. What are the reasons for purchasing packaged food products?
Satisfaction
Taste
Ready Available
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.
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Q3. Are you aware of following brands?
Bhagat's
Parle
Fritolays
Pepsico
Haldiram's
Bikano
Analysis:- It was found out from the survey that people were very much aware
of Bikano, Haldiram’s, Pepsico and Parle where as they were not so much aware of
Bhagat’s and Fritolays.
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Q4. Source of information for brand awareness
Television
Radio
Newspapers/Magazines
Friends/Relatives
Shopkeeper/Retailer
Window Display
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.
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Q5. Frequency of purchase
Daily
Twice in a week
Once in a week
Fortnightly
Whenever needed
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 don’t
like to buy the packaged products fortnightly.
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Q6. Nature of purchase decisions
Impulsive by planned
purchase
Unplanned purchase
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.
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Q7. Place of Purchase
Super Markets
Departmental Stores
Retail Outlets
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.
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Q8. Which brand do you prefer most?
Percentage
Bikano
Haldiram's
Pepsico
Fritolays
Parle
Bhagat's
Analysis:
It was found that in the survey most of people give their preference to Haldiram’s
followed by Pepsico and Bikano. Fritolays, Parle and Bhagat’s are less preferred
by the customers. So Bikano is already giving a good competition to major brands
like Haldiram’s and Pepsico and also has a lot of scope in the market.
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Q9. Factors influencing to prefer a particular brand
Brand Image
Quantity
Quality
Taste
Price
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.
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Q10. What are the alternative purchase plan if prefer brand is not available?
Percentage
Go to other shop
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.
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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:
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.
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This study tells that the consumer behavior at the market place as planned or
unplanned purchasing decision.
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.
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.
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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.
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Suggestions
On the basis of findings from the research made there are some points on which the
company should take care of:
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.
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Bibliography
Books:
Philip Kotler
References:
Websites:
www.bikanervala.com
www.businessline.com
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Annexure
Questionnaire
Q1. 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
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Q4. Source of information for brand awareness
Television
Radios
Friends/ Relatives
Window Display
Frequency
Daily
Twice in a week
Once in a week
Fortnightly
Whenever needed
Retail Outlets
Departmental Stores
Super Markets
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Q8. Which brands do you prefer most?
Brands
Bikano
Haldiram
Pepsico
Fritolays
Parle
Bhagat’s
Factors
Price
Taste
Quality
Quantity
Brand Image
Long shelf life of Product
Q10. What are the alternative purchase plane if prefer brand is not available?
NAME:
CONTACT:
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