Professional Documents
Culture Documents
Submitted in partial fulfilment of the requirement for two year Post Graduate Diploma
in Management (2014-16)
Submitted to:
Prof.R.J Masilamani
BIMTECH
Submitted by:
Sandarbh Agarwal
PGDM (Marketing)
Roll no.-14DM180
1
INDUSTRY CERTIFICATE
This is to certify that Sandarbh Agarwal, a student of PGDM from Birla Institute of
Management Technology has worked on summer project titled A study to explore the
marketing prospects of soya nuggets under the brand Fortune from Adani Wilmar Ltd
after Trimester-III in partial fulfillment of the requirement for the programme.This is his
original work to the best of my knowledge.
Date: ___________
Signature,
R.J Masilamani
Professor
BIMTECH
LETTER OF TRANSMITTAL
3
Mr.Rajesh Sanan
Regional Sales Manager
Adani Wilmar Ltd.
Dear Sir,
Re: Summer Project Report
Attached herewith is a copy of my summer project report entitled A study to explore the
marketing prospects of soya nuggets under the brand Fortune from Adani Wilmar Ltd
which I am submitting in order to mark the completion of an 8 week summer project at your
organization. This report was prepared by me using the best of practices and summarizes the
work performed on the project and is being submitted in partial fulfilment of the requirement
for the award of diploma.
I would like to mention that the overall experience with the organization was very good,
which helped me to know how the work is carried out in real practice with the help of your
esteemed organization. I feel honoured that I got an opportunity to work at Adani Wilmar
Ltd, a company of great repute.
I hope I did justice to the project and added some value to your organization.
Suggestions/comments would be appreciated.
Yours sincerely,
Sandarbh Agarwal
LETTER OF AUTHORISATION
4
My learning experience at Adani wilmar Ltd., under the guidance of Mr.Rajesh Sanan
(Regional Sales Manager) and Prof. R.J.Masilamani, has been truly enriching.
Date:
____________________
(Sandarbh Agarwal)
ACKNOWLEDGEMENT
To begin with, I would like to acknowledge all those who have been instrumental in shaping
up this project with their guidance and inspiration.
I feel immense pleasure in expressing my sincere thanks and deep sense of gratitude to Mr.
Rajesh Sanan (Regional Sales Manager)Adani Wilmar Ltd. for his time and valuable
efforts. He constantly encouraged me right from the selection of the title to final preparation
of my project. He has been a constant source of knowledge, information, help and motivation
for me.
I am thankful to Mr. Rajesh Chauhan (Area Sales Executive) for his constant inspiration
and guidance throughout the project.
I express my sincere thanks to Prof. R.J.Masilamani, BIMTECH for giving me an
opportunity to work with him through this project. I take this opportunity to express my
profound sense of gratitude to whose sincere co-operation and guidance enabled the project
to assume its systematic shape.
I am also thankful to all the Retail outlets, distributors of Adani Wilmar Ltd. , whose insights
were of great help in arriving at the findings.
Last but not the least, For every opportunity, may GOD be thanked.
Sandarbh Agarwal
PGDM
14DM180
Contents
EXECUTIVE SUMMARY............................................................................................ 8
EXECUTIVE SUMMARY
7
Objective
The objective of the project is to explore and identify new uses and ways to increase the sales
of Adani Wilmars newly launched product Fortune Soya Nuggets. The project gives insights
into the issues which are directly or indirectly related to the sales of soya nuggets. The retailer
segment covered for the project is general trade which includes grocery outlets and street
food outlets selling soya products.
The focus is mainly on the following areas
Stock availability
Branding and visibility
Consumption patterns
Competitor analysis
Usages of the product
Scope
The study aims to identify the main reasons behind the low sales of Fortune Soya Nuggets. It
will also help the company to know the consumption patterns of soya nuggets in Indian
markets and the plausible uses which could help the company to increase the sales of the soya
nuggets through domestic and export sales. Feedback from the market will be helpful in
knowing the relevant market trends and customer perception towards the product.
Key findings
A majority of the retailers were happy with the companys distribution system and
supply chain.
Dissatisfaction was expressed on the product margin offered by the company as
compared to its competitor brand Nutrela.
Many outlets were not interested in selling Fortune Soya Nuggets due to poor
inventory replenishment.
There is no awareness about Fortune Soya nuggets in households due to lack of
branding activities carried out by the company.
There are several alternate products uses including Soy meals, Soybean flour,
Soynuts.
Soy food consumption is directly linked with improving the cholesterol profile of the
body.
Recommendations
The company should bring some TV commercial or some endorsers from the food
industry like Chef Sanjeev Kapoor to promote the product which still is in its nascent
stage.
Adani Wilmar ltd can consider launching a new range of Soy foods including Soy
flour, Soy nuts which too are processed forms of the bi-product of Soy oil.
Soybean has not entered into the general eating habits of common people of the
country. Hence there is a strong need to create awareness among the masses about the
health benefits soybean and its forms.
The companys soybean oil under the brand Fortune is a market leader. Leveraging its
penetration among the masses, soy nuggets can be given as a secondary scheme to the
consumers on a 1lt. Pouch of soybean oil.
There exists a vast market for exports of soybean. The European Union, Thailand, and
Indonesia import 22 million ton, 2 million ton and 1.5 million tons of soybean
respectively. Adani may use its international tie-ups to explore and exploit these
opportunities.
1.Vision
To be the globally admired leader in integrated agri business with a deep commitment to
nation building. We shall be known for our scale of ambition, speed of execution and
quality of operation.
2.Portfolio
Adani Wilmar has a range of premium edible oils, Vanaspati, packed Basmati Rice,
pulses,Soya chunks and the first national brand in Besan. The product portfolio of Adani
Wilmar spans several offerings including - Fortune, Kings, Bullet, Raag, Avsar, Alpha and
Aadhaar.
I.
Fortune the most prestigious brand in the Adani Wilmar portfolio became the no.1
brand in the market within just 2 years of its launch and still continues to be a leader.
It is the brand name under which company markets Soybean oil,Cococnut oil,
Groundnut oil, Rice Bran oil, Mustard oil, Sunflower oil, Cottonseed oil, Sunlite oil
,Soya chunks, Besan,Rice and Pulses.
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II.
III.
IV.
V.
VI.
VII.
VIII.
Raag is the brand for marketing granular vanaspati.It is prepared through the
hydrogenation of superior quality refined oil and fortified Vitamin A and D.
Raag Gold is the brand for refined Palmolein oil.
Alife is an affordable blend of Refined Soybean and Refined palm oil.It is free of
cholesterol with extracts of Palmolein oil and oxidative properties.
Kings is a soybean oil which is easily affordable. It is a partially refined soybean oil
extracted from the domestic production of soybean seeds.
Bullet is a Mustard oil from Adani Wilmar ltd.It is generally traded as Kachi Ghani.
Aadhar is the brand name for soybean oil and sunflower oil.
Pilaf is the brand which is used to market the different varieties of Rice.Under it
there is Pilaf Hameshafor Basmati Rice,Pilaf Gold for traditional Basmati Rice and
Pilaf1121.
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Texture vegetable protein (TVP), also known as textured soy protein (TSP), Soy meat,
or soya chunks is a defatted soy product, a by-product of extracting soybean oil. It is often
used as a meat analogue . It is quick to cook, with a protein content far greater than that
which comes from meat.
Soy Chunks are made from soy flour containing 70-80% protein. They have a mild beany
flavour. It requires rehydration before use, sometimes with flavouring added in the same step.
The manufacturing process from Soy flour (a by-product of Soy oil extraction) results in a
fibrous, spongy matrix, similar in texture to meat. In its dehydrated form, soy chunks have a
shelf life of longer than a year, but will spoil within several days after being hydrated. In its
flaked form, it can be used similarly to ground meat.
SKUs available:
Size(weight)
MRP
200gm
Rs.38/-
1kg
120/-
3020/-
4. Major competitor
The current market of TVP (soya chunks) is dominated by the brand Nutrela from Ruchi
Soya Industries.Ruchi Soya had launched this product way back in the year 1982.As such the
soya chunks market is dominated by Nutrela.
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Distribution network
Hotels
Educational Institutes
Religious Places
3. Modern Store: These are the new age hypermarkets that present the consumer with a
plethora of choices across multiple products places under one roof, hence gratifying
the overall shopping experience of the consumer. There is a general shift towards
people preferring to buy their goods for these hypermarkets rather than their
conventional retail outlets.
4. Retail outlets: These are the general mom & pop stores selling grocery items. Adani
Wilmar has a strong penetration of 1 million such retail outlets.
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LITREATURE REVIEW
Soy bean holds a very important position in the Indian agriculture and the economy as it has a
worth of Rs.5000 crores.India stands on the 5th rank in worlds list of Soybean production. In
India 10-12% is directly consumed and rest is used for extraction of Soy meal and Soy oil.
India exports about 55% of the Soy meal produced to the Asian countries as it is considered
to be of the premium quality.
Extensive literature on personality in psychology and other behavioural sciences has
persuaded marketing researchers to theorize that personality characteristics should predict
brand or store preference and other types of buyer activity (Engel, 2006). Evans undertook
this study using 12 objective variables, such as age, income, and other demographics, to test
the assumption that buyers differ in personality structure.
Marketers today need to understand that customer satisfaction is about attitude; and
customer value is about behaviour (Butz and Goodstein, 2006). Demographic variables are
the most popular bases for segments the customer groups, One reason is that consumer needs,
wants, preferences and usage rates are often highly associated with demographic variables.
Another is that demographic variables are easier to measure (Kotler, Philip, and Gary
Armstrong, 2006). The demographic environment is of major interest to marketers because it
involves people and people make up market (Kotler, 2006).
Most of marketers strategic decision making heavily depends on the demographic variables
of people in the region where they focus on marketing their products. Demographic variable
make known the ongoing trends, such as shifts in age, sex and income distribution that
signal new business opportunities to the marketers (Schiffman, Leon G. and Leslie Lazer
Kanuk, 2007). These aspects highly motivated the researcher to take up the present study.
Some of the outstanding studies conducted on soy bean and its products marketing and
purchasing practices, production, sales and marketing strategies of business firms in respect
of soybean products were thoroughly examined and studied for working on the following
project.
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PROBLEM DEFINITION
Of the plethora of Indian indulgences the one that occupies top spot is food. Barring the odd
exceptions the one common thread that runs across all food recipes at least in urban India
is the health concern over the ingredients. People are becoming more concerned about the
ingredients they are using in the kitchen and looking at its nutritional value.
The company had launched a new product under the portfolio of its brand Fortune with the
name Fortune Soya Nuggets. This product was launched in December 14, so the product do
not has a large market share. The company wants to increase its sales of Soya Nuggets and
win over the competitor Ruchi Soya Industries.
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17
18
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RESEARCH METHODOLOGY
Keeping research objective in mind both exploratory and descriptive research were carried
out. It included finding the various uses of soya nuggets, secondary sales data and
information from households about the attributes they wanted in the product. Some
information was also collected on the branding and visibility methods followed by the
company.
To understand about the market dynamics 220 outlets were visited in the West Delhi region
and out of which 54 high volume outlets were chosen for the study.
The markets that were covered in the West Delhi region can be enumerated as
Besides the retailers in the above markets 65 consumers were surveyed and 28 consumer
responses were considered for the study. The other responses were not concrete enough to be
recorded into study. These surveys were carried out on a questionnaire which had questions
pertaining to product attributes and perception of the customer.
Based on the analysis conclusion were drawn and recommendations were made to the
company.
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DATA ANALYSIS
1. Primary data
Distribution
Very
poor
Poor
0%
0
2
Average
Good
Excellen
t
30
15
3.70%
14.81
%
55.55
%
27.77
%
The large distribution network claim by the company is evident from the survey in which
84% retailers say they are satisfied with the distribution of the company. There is a good trade
relationship between retailers and distributors.
21
Product Margin
Very
poor
Poor
Averag
e
Good
Excelle
nt
12
24
17
2
21.81
%
44.44
%
31.5%
3.7%
Company needs to pay attention to the issue of margin where only 4% retailers are satisfied
over the margin.45% retailers do not want to keep Fortune Soya Chunks due to low margin of
rupees 4 on a 200gm pack whose cost is rupees 40.
Replenishment period
The market of soya chunks is not mature enough. There is still a lack of awareness among
households about the usages of soya chunks .So the replenishment cycle of soya chunks of
any brand as a whole at retailers point is 18-20 days. The high value of replenishment cycle
results in low sales of the product.
Awareness in households
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Out of the 28 responses which were taken into consideration only 13 households knew about
Fortune Soya Chunks. i.e 46.4% people are aware about the product availability. This relates
directly with the lack of promotions and advertisements carried out by the company.
Quality parameter
In the survey done on a sample of 65 households 28 responses were studied on the parameter
of quality in which 70% households responded that the quality(cooking time ,softness, taste)
was the same for the packaged soya chunks irrespective of the brand.
Product usage
Almost
everyday
Once a week
Once in 15
days
Do not use at
all
7.14%
39.28
%
28.57
%
25%
11
23
Customer survey reveals that 40% people use soy chunks once in a week.25% households do
not use soy chunks at all. This may be accounted for the unawareness about the alternative
usages of soya chunks in the minds of consumers.
2. Secondary data
Production
The most popular and widely grown oilseed worldwide is soybean. It contributes to 55%of
the total world production of oil seeds.USA is the largest producer of soybean followed by
Brazil. India is ranked 5th in the production of soybean seeds with major producing states of
Madhya Pradesh and Maharashtra.
Million ton
18-20
12-18
Exports
Country
Million ton
USA
26-30
Brazil
12-18
Argentina
7-10
This data shows that there is a huge opportunity to export the soy product in countries like
China and European Union. India is a large consumer of soybean oil so the availability of soy
extract as a bi-product of oil refinery is large .This soy extract after crushing is used for
various soy meals.
24
25
26
27
RECOMMENDATIONS
On the basis of the conclusions drawn from the market survey and the consumer responses
along with getting some details of global market, following recommendations are being
made Promotion
The primary requirement of the product at this stage is promotion. For this purpose cooking
shows like Master chef, regional food shows on local channels and bringing in endorsers like
Chef Sanjeev Kapoor can prove quite fruitful.
Awareness about usages
Soybean has not entered into the general eating habits of common people of the country.
Hence there is a strong need to aware the masses about the health benefits and the existing
dishes of soybean and its forms. These soya chunks are presently used in its direct form
without any further processing. Company should make aware that soya chunks can be further
processed, crushed and used as soy flour for thickening of curry, alternative to tomato puree.
Schemes & Offers
As the product is new for the company but not to the market so it needs some inspiration for
the buyers to switch their brand. For this purpose a discount in pricing, providing some extra
percentage like 20% extra on consumer packs is an idle advice.
Presently the competitor brand Nutrella is offering a 25% extra on rupee 10 consumer pack.
Some primary schemes to the retailers may also be given which will enable them to push the
product to the consumer.
28
There exists a vast market for exports of soybean. Countries like European Union, Thailand,
Indonesia imports 22 million ton, 2 million ton and 1.5 million tons of soybean respectively.
Adani may use its international tie-ups to catch upon these opportunities.
Brand visibility
Company should carry out visual merchandising practices which prove beneficial both for
retailers and consumers. The board signage with their names work as an incentive for the
retailer and it also make the product visible in the market.
Merchandising
It was observed that Fortune had provided limited merchandising related to the soy chunks
(racks, trays, standees, posters, inside/outside shop signage) product in hypermarkets. Such
merchandizing can help gain customers attention and increase the sales. Fortune can provide
its standees and racks which would again increase the visibility of products and increase the
chances of sales due to impulse buying.
Effective advertising
The results showed that the awareness level of people about Fortune Soya Nuggets was
very poor as majority of them responded that they did not know about it. An effective
and clear positioning campaign should be introduced. Also, it is observed that doctor
advice plays a crucial role in influencing the consumer, therefore advertising can be
created where the edible oil are being recommended by medical experts/dieticians. This
would create a better influence over the audience.
29
Digital marketing is taking strides in todays times. So, it can be effectively utilized
creating ads YouTube.
30
EXIBITS
EXIBIT-I
Questionnaire for Retailer
Which type of
Packed
Loose
Both
Fortune
Others
50-100 kg
100-150 kg
Golden harvest
Fortune
Others
Does Fortune bear the loss of any damage in the product while
unloading or expiry in soya nugget?
Yes
31
No
If not keeping or keeping less Fortune Soya nugget, What are the
reasons? Please Mark below.
High price
Advertisement
Quality
Schemes
Low demand
Newspaper ads
Banners
Internet
Social media
Pamphlets
Hoardings
Any suggestion that you want to give to fortune for its soya nugget?
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_________
2. Exibit-2
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Weekly
Monthly
Yearly
Loose
Soya Badi
Soya chunks
200 gm
500 gm
1 kg
Fortune
others
Price
Advertisement
Discounts
Brand name
No
Are you satisfied with the quality of soya nugget brand you are
presently using?
Yes
No
5
Aroma
Softness
Moisture content
Taste
34
1
4
5
TV ads
Newspaper ads
Banners
Internet
Social media
Pamphlets
Hoardings
35
REFERENCES
https://www.google.co.in/search?
q=SOYA+CHUNKS&oq=SOYA+CHUNKS&aqs=chrome..69i57j0l5.6332j0j7&s
ourceid=chrome&es_sm=93&ie=UTF-8
http://siteresources.worldbank.org/INTAFRICA/Resources/2579941215457178567/Soybean_Profile.pdf
http://adaniwilmar.com/
http://healthyeating.sfgate.com/nutritional-value-soya-chunks-2216.html
36
Abbreviations
37