Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
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