Download “To Study on Promotion of Varun Food Products in Nagpur”

2016
“To Study on Promotion of Varun Food Products in Nagpur”
Siddhant H. Wankhede*
Abstract
This research paper is an overview of my project on the topic “STUDY ON PROMOTION
OF VARUN FOOD PRODUCT IN NAGPUR.” My project was conducted in Nagpur city.
During the first part of my project, I tried to gain an insight into the company as a whole and
its products. I did this with the help of questionnaire.. I tried to know their perceptions about
the company, its products and their expectations. I also took the help of secondary data
sources internet. I found out from whom the company is facing competition and I also
identified the areas where the company should look for increasing their business.
I begin this report by presenting theoretical background of the subject followed by history of
company, after which the research methodology, research design and methods used for data
collection are described. Then the analysis of the data collected, its presentation and
interpretation was done after which I put forth my findings, recommendations and
conclusions.
* Siddhant H. Wankhede
BBA graduate (RTMNU),
currently pursuing MMM (from MITSOM )
E-mail ID: [email protected]
Contact number: 7774992008
Page 321
MIT- SOM PGRC KJIMRP National Research Conference (Special Issue) - 2016
1. Introduction
1.1 Promotion
Promotions refer to the entire set of
activities, which communicate the product,
brand or service to the user. The idea is to
make people aware, attract and induce to buy
the product, in preference over others.
According to Philip kotler, “Promotion
compasses all the tools in marketing mix
whose
major
role
persuasive
communication.”
1.1.1Tools of promotion mix / marketing
communication
Advertising:"Advertising is any paid form
of non-personal presentation and promotion
of ideas, goods and services through mass
media such as newspapers, magazines,
television or radio by an identified sponsor".
Sales promotion: “Sales promotion is
essentially a direct and immediate
inducement. It adds extra value to
productand
hence
prompts
the
dealer/consumer to buy the product.”
Personal selling: “Personal selling is oral
presentation in a conversation with one or
more prospective purchase for the purpose of
making sales.”
Public relation: “Public relation practice is
planned and sustained efforts to establish
and maintain goodwill and mutual
understanding between an organization and
its public.”
Direct marketing:Direct marketing has
been defined by the Institute of Direct
Marketing as “The planned recording,
analysis and tracking of customer behavior
to develop relational marketing strategies”.
1.1.2
Marketing
communication
strategies: Push and Pull
Push strategy: A push promotional strategy
involves taking the product directly to the
customer via whatever means, ensuring the
Page 322
ISSN : 0976-8262
customer is aware of your brand at the point
of purchase."Taking the product to the
customers”
Pull strategy: A pull strategy involves
motivating customers to seek out your brand
in an active process."Getting the customer to
come to you"
1.1.3 Objective of promotion
Build awareness create interest, .Provide
information, Stimulate demand, Reinforce
the brand Etc.
1.1.4Role of marketing communication in
marketing effortsIncrease awareness, Increase knowledge,
Increase sales, increase retailers and
Maintain relationship with customer and
retailers.
2.COMPANY PROFILE
Varun Food Products, is an India based
confectionery
products
manufacturing
company located in Nagpur, India. The
organization is engaged in processing and
supplying
an
exquisite
range
of
delicious. The products are prepared from
quality
ingredients
such
as
high
quality gelatin, flavouring and colour. These
products are very popular amongst children
and known for their natural flavours, taste
and hygienic packaging. Moreover, these
candies are also ideal for gifting purposes
during various occasions and also serve the
interest of consumers by providing quality
products which are good value for
money. “Mr. GhanshyamBhagChandani”
the founder of the company have helped the
company to attain a top notch position in the
industry by achieving the goals of the
organization within the predetermined time
period.. Given below are some other factors
that have helped the company in achieving a
remarkable position in the industry:
2016
Stringent quality checks, Customer centric
approach , Advanced packaging of products
,Hygiene processing facilities and Costeffective rate.Varun food products, have a
team of experienced and immensely
intelligent professionals that helps
in
attaining a top notch position in the industry
with their continuous effortsThe team
includes the following members: Food
experts ,Quality personnel, Storage and
packaging expertsandSkilled workers.
3. RESEARCH OBJECTIVES
• To research on Promotion strategies in
varun foods (candies) affects the sales or
helps the Retailer or wholesaler in
making a sale.
• Brand Awareness in consumer minds.
• To identify the consumer needs.
• To know the specific reasons for which
customers purchase candies
4. LITERATURE REVIEW
More than 200 studies on sales promotions
have been published in the past 10 years,
compared to about 40 studies between 19651983 (Blattberg and Neslin 1990). This
dramatic rise in research can be explained by
both the large increase in promotional
spending and the availability of scanner
panel data.
Many research traditions have dealt with
consumer psychology and behaviourvis-avissales promotions. The consumer-oriented
approach seeks to identify the heavy users of
promotions and to track their purchasing
strategies involving the choice of a promoted
brand. The aim of the theory-oriented
research traditions is to test the explanatory
power of various cognitive, attitudinal,
behavioural be it to explain why and how
consumers react to sales promotions or to
understand when companies should promote.
This article exposes the specificity of each
research tradition, its principal results and
the most promising areas for future
research.(((Journal
of
Marketing
Management, 1995, 11, 419-441)
The promotional tools capabilities can help
businesses to spread the messages to the
mass market. It is very powerful technique to
be used to increase brand awareness of the
organization. We found out those
promotional tools such as sales promotion,
direct marketing, personal selling, publicity,
advertisement, and internet marketing play
vital role to create brand.(Md. KamrulHasan,
Rabia Khan, September, 2011)
Ambler(2000) said that Advertising creates
Awareness communicates attributes and
benefits, reminds and refreshes to ensure top
of mind awareness and that a brand is in
consumers consideration set, therefore
generates repeat purchase and over time
contributes to loyalty and the franchise of a
brand.( Herald Journal of Marketing and
Business Management Vol. 2 (1), pp. 047 050 February, 2013)
5. RESEARCH METHODOLOGY
A research design is logical & systematic
plan prepared for directing a research study.
It is the program that guides the investigator
in the process of collecting, analyzing&
interpreting observations.Here, descriptive
research design is used for analyzing and
studying impact of visual merchandising on
customer satisfaction. It is very simple &
more specific than explanatory study.The
descriptive study is a fact finding
investigation with adequate interpretation.
The descriptive study aims at identifying the
various characteristics of a problem under
study. It reveals potential relationships
between variables and also setting the stage
for further investigation later
5.1 Target population and Sample
Size:Target population is Wholesaler and
Page 323
MIT- SOM PGRC KJIMRP National Research Conference (Special Issue) - 2016
ISSN : 0976-8262
retailer of Nagpur.People from different
economic
backgrounds
will
be
interviewed.Here the sample size is 163
samples& it is limited to Nagpur city.
interview or questionnaire.The present study
has used survey method for collecting the
primary data by directly interviewing
customers with questionnaire.
5.2 Sampling technique and Data
Collection
method:The
convenience
sampling technique was adopted.The data
collected will be in the form of structured
interview.
Secondary Data:-Secondary data is
collected from already existing sources in
various organization records.Secondary data
for the study were collected from the
newspaper, websites & other previous
studies.
5.3 Data Sources:-There was a need to
gather primary as well as secondary data.
Primary Data:-Primary data was collected
on original information gathered for a
specific purpose either through personnel
5.4 Research Instrument:-The research
instrument used was the structured
questionnaire.
6. RESULTS AND DISCUSSIONS
Q.1. Why customer prefer varun food products? (tick specific)
Particular
No of respondents
Percentage
Price
57
35%
Quantity
48
30.44%
Quality
22
14.49%
Taste
30
19.40%
Appearance
06
0.36%
Total
163
100%
Discussion: Customer preferring products because of low price, high quantity and taste.
Q.2.Which is the most effective tool of promotion mix in company ?
Particular
No of respondents
Percentage
Advertisement
96
33.33%
Sales promotion
107
37.12%
Personal selling
23
8%
Public relation
16
5.55%
Direct marketing
46
16%
Total
288
100%
Discussion: Most effective tool of promotion mix in company is sales promotion and
advertisement.
Page 324
2016
Q.3 Does the promotion tools of Varun food products attracts customer to purchase items ?
Particulars
Highly satisfied
Satisfied
Neither satisfied nor dissatisfied
Dissatisfied
Highly dissatisfied
Total
Frequency
72
56
26
9
0
163
Percentage
44.17%
34.35%
15.95%
5.52%
0%
100
Discussion: According to respondents,promotion tools of Varun food products attracts
customer to purchase items.
Q.4 When customers come, are they aware about the product(varun foods products)?
Particulars
Yes
No
Total
Frequency
92
71
163
Percentage
56.44 %
43.55 %
100 %
Discussion: Almost near about 50 percent of people aware of the product.
7. CONCLUSIONS
In today’s era promotion a play important
role in promoting the products and services,
Which helps organization to attract more
customers and gain profit for organization. It
was observed that people are taking product
because of low cost with good quantity.
Company should look upon quality and taste
also. People are not aware of the product
thoroughly to cope up with this situation
company should give more focus on
promotion activities to attract more
customers. Promotional tools are useful but
not able to create profit, In this situation
company should identify the consumer needs
and demands and accordingly make the
promotional campaign which helps them to
gain profit. Company should maintain the
continuous relationship with customers to
gain profit for longer period of time.
7. REFERENCE
7.1Book reference
3rd Edition
McGraw Hill ,Retailing
management ,Swapna Pradhan
Marketing
Management,12thedition,Philipkotler
Research
Methodology,Methods
and
Techniques(Second revised edition)C.R.
Kothari, New Age International Publishers
7.2 Web reference
http://indiamart.com
http:// Ebay.com
http://shodhganga.inflibnet.ac.in/
https://www.surveymonkey.com
http://economictimes.indiatimes.com/definition/p
romotions
7.3 Journal:
1) American International Journal of Research
in Humanities, Arts and Social Sciences.
2) Herald Journal of Marketing and Business
Management.
3) Research Journal of Management Sciences.
4) International Journal Of Advertising, Vol.24
No.4, pp.467- 486, 2005.
*******
Page 325