The main aim of the article is to comply to the various marketing theories that has been prevailing on the market and get an effective understanding of the true market.
With the assistance of the ITC Sunfeast various functions and strategies were being discussed and discussed in respect to insurance policies and path they have followed given that they have been a successful player on the market.
The consumer information is studied to get a sense of various needs, requirements and mind set of them. This is done with the aid of questioning people at different places so that there surely is a glimpse with their buying pattern. The individuals interviewed were from different places of Gurgaon.
COMPANY'S OVERVIEW
ITC means Imperial Tobacco Company of India Limited is an Indian Conglomerate whose market capitalization is folks $14 billion and turnover of over US $ 51 billion.
ITC is a major private cigarette company with a varied portfolio which consists of hotels and paperboards, product packaging, agri- business, packaged foods, confectionary, branded apparels, handmade cards and FMCG products.
ITC group is the latest diversed form of FOOD DIVISIONS. The accessibility in beverage market was just to implement a new strategical decision to increase the market prices. The core prices of company lies in understanding the client needs, reinventing brands and also to establish the competence brand.
ITC's aimed at creating multiple motorists of progress anchored on its time-tested main competencies: unmatched syndication reach, superior brand-building capacities, effective supply string management and recognized service skills in hoteliering.
SUNFEAST
In July 2003, ITC inserted in Biscuits market with the Sunfeast it was Sugar, Marie and cream biscuits. The brand connotes to happiness, contentment, satisfaction and pleasure since its mascot Sunny and slogan propagate the smile. In 6 years Sunfeast has launched many new varieties and has it launched virtually all types of biscuit categories.
At that time, Britannia and Parle placed. The others too was strongly held by smaller players like Priya Silver which had a strong existence in the north. Things have lot evolved after three calendar year. The growth has been increased upto 12% and the entire pricing was Rs 4, 000 crore
ITC's Sunfeast is another type of story to see up to now. The strategist talks about the game plan of the later entrant and the way the biscuits industry has responded.
MARKETING ENVIORMENT
MACRO ENVIORMENT
Developments and putting into action marketing strategies requires variety of decisions. Making those decisions is both a skill and science. To supply information into and inspirations for marketing decision making, companies monitor customer needs and upgrade themselves in order to continuously adjust to the environment.
In 2003 when ITC entered the market there is a planned sector of biscuits which was predicted to be 0. 8 million lots with a value of Rs 45 billion and Britannia and Parle were the major challengers. But the company understood that metropolitan India comprising 27% of the population accounts for 44% of biscuit structure that individuals are looking for technology, variety and fun in the entire biscuit category which other biscuit companies lack.
DEMOGRAPHIC ENVIORMENT
Since India is diversified and demographically vibrant, hence the necessity is therefore completely different. So the company catered the necessity of every life cycle as there's a product for children and even for elders and also for older people. Hence there is something for everyone and by this ITC dominated the market completely.
ECONOMIC ENVIORMENT
The available purchasing ability in an current economic climate will depend on current income, price, keeping, personal debt and credit availability. The company understood the buying potential of the Indian market and accordingly price the biscuits in a way so that it does not force the buyer and the price corresponds to the price of the competitors. So this way the customers will have a value for money just as the same price they have a new and a better product. Moreover the concentrate was on the urban population hence the purchase price had not been such a matter of importance as the folks of this category has high purchasing electric power.
SOCIO-CULTURAL ENVIORNMENT
The society forms the beliefs, worth and norms that largely define consumer preferences and preferences. People absorb, almost unconsciously, a world view that defines their romance to themselves, to other, to other organizations and world. So ITC launched a product which was in accordance with the beliefs of India as the elements within the product are those that were generally used by folks and moreover satisfied them and it was in also tune with the changing flavour and tastes of the consumers.
ENVIORNMENTAL
ITC's operation effect mainly matter on three areas: (a) release of greenhouse gases for global warming; (b) intake of drinking water, both from surface and sub-surface resources,
Global Warming:strategy utilized by company to lessen the global effect are (a)Lower the energy used by increasing technology and putting into action it with new products. (b) greenhouse gases, especially carbon dioxide, through a large-scale forestry program.
Water Conservation: ITC is know about the fact that freshwater in the united states is becoming increasingly a valuable tool given that India makes up about 18% of the world's population but has only 4% of global freshwater resources.
MICRO ENVIORNMENT
ITC's employment tactics are based on attracting and retaining skill only on merit. THE BUSINESS control 'walking the have a discussion' and focusing on implementing the coverage underlines the Company's approach to career practices and setting up a decent work place. ITC's manages all human rights and employee satisfaction along with preserving dignity. High expectations of career and EHS tactics judge the Company's performance, help in the attraction and retention of quality talent, and enhance the equity of the business as a sensible employer. The primary aim is to nurture a culture of meritocracy amongst a dedicated and enthusiastic labor force from diverse backgrounds.
The organizational structure is really as follows:-
DISTRICT MANAGER
REGIONAL BRANCH MANAGER
BRANCH MANAGER
ASSISTANT BRANCH MANAGER
3 CIRCLE INCHARGE (CITY, METRO & UP COUNTRY)
AREA EXECUTIVE
SUPERVISOR
SALES MAN
MARKETING STRATEGY
ITC is a region company that is most valued because of its commercial culture. Chairman Y C Deveshwar considers the business as dedication beyond the marketplace.
The company seem to be to be devoted with expanding India and adding in its way not only to succeed in at an inferior level but making a difference at a worldwide level within an international w
STRATEGY
With it's one of its product which is Sunfeast the company is determined to provide happiness, contentment, satisfaction and pleasure since its mascot is Sunny and slogan spread the smile which stood true to its name.
The product Sunfeast premiered in the midst when the biscuit market in India was believed to be in regards to a value of Rs 45 billion and away of that Britannia and Parle performed more than 80% of the prepared sector in value terms. ITC therefore decided to enter the top quality biscuits market with products that would reinforce the gratifying areas of the brand as well as offer great tastes and quality to customers.
The ITC can be considered a classical example of study as a cigarette company who deals in a variety of products can be successful in promoting in marketing biscuits? The core competencies on which ITC depends on the depth of circulation, brand building ability and capacity of quality outsourcing which made it successful.
Sunfeast which was launched in 2003 was one of its diversified arrays apart from a tobacco product leader to a FMCG player. IT has a well developed system of distribution which can only just be compared and then HLL. As ITC was one company that has it's intervene in every major fields which means this establishes Sunfeast among around India and the outside India.
The biscuit market is usually to be approximated about 4500-5000 crore with Parle and Britannia being the major players. The biscuit market has now migrated to value added biscuits and key markets were U. P. , Maharashtra and Tamil Nadu. As the rural market prefers Glucose biscuits and Urban market is keen on cream biscuits.
The establishment of brand was never easy as the marketplace is already having business lead biscuit companies that have been fulfilling the needs of people. Sunfeast monitored the marketplace demand and carefully dealt with campaign and brand building which made the brand to get 10% market share. The merchandise was made exciting by launching a series of convenience goods, new likes and flavours which lead to a pastime in the brand. The business continued some starting of products like Milky magic, coconut, strawberry, pineapple, butterscotch and cream and it also entered the high quality biscuit category with Dark Fantasy.
Moreover market research discovered that consumers were looking for invention, variety, and fun in all the biscuits cateogries. A mascot, Sunny was chosen to mention these areas of ITC's biscuit brands. First offerings included the Sunfeast Sugar biscuits, focusing on children and their mothers; Sunfeast Orange Marie, focusing on housewives and families; and Sunfeast Orange cream, Butterscotch cream and Bourbon Cream, focusing on children.
Over the last few years, the Sunfeast range has broadened with the intro of the Sunfeast Dark Dream range in the top quality section; the Sunfeast Milky Magic in the dairy biscuit category; the Snacky in salted crackers and cookies category. Furthermore, ITC entered the dietary biscuit section with introduction of Sachin's Fit Set- a range of healthy products co-created with the cricket icon. In 2007 the brand has a value of Rs 5 billion and keeps growing at 15% per season.
CONSUMER ANALYSIS
The analyses confirmed that majorly people used Biscuits and aren't fond of having the Sunfeast Pastas.
About 63% of men and women like having Sunfeast Marie and Sunfeast Goal Cream is being preferd by only 25% of the consumers.
The products like Sunfeast Special, Great n Sodium, and Golden Bakery are not that much appereciated as only 13% of individuals prefer them.
In goal Cream Butterscotch, Orange and Burbon were similarly appreciated.
Classic Snacky was more liked as compared to Chilli flakes in Snacky brand.
90% people like having Marie lite over Orange Marie and the merchandise is not just used by Old but almost folks of every age group.
In Golden Bakery choco nut was typically liked while there is no intrest in all of those other choices.
Coconut and Butter were similarly liked in Special cateogary.
63% prefer Sunfeast due to its Preference and Flavour while 25% wants them because of price, product packaging, quality.
People also appereciated it because of option of large variety.
It was also detected from the study, that the products were regularly by the customers, almost all of them going for regular and fortnightly purchase of the product.
The major rivals for the product are Parle and Britannia which were even a menace when the product premiered.
The brand loyalty seems to very poor as when consumers were asked that would they continue to ingest Sunfeast even if other products were at a discount, the answer arrived as No. The individuals were specific in the categories however, not with the brand Sunfeast.
The television seems to be most reliable form of advert as it distributed awareness in nearly every age group and was the major promotional tool.
The brand was easily available to people and even remotest to smallest outlets have Sunfeast for sale.
The people appear to be assured of quality and said that they might recommend their friends and family the product.
