balaji wefers ltd
TRANSCRIPT
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PREFACE
Management is an on going process and most happening
thing in life. This process even becomes important when we
are talking about the real business operation.
Retailers attitude is one of the most crucial areas of
management. We have tried to inculcate some of the
frequently; asked question by retailers survey.
Moreover, being a namkeen food industry, we had an
exposure to the Retailers attitude of food processing industry.As we know, /retailers attitude by industry to industry. Each
industry has its unique factor for Retailers attitude.
Thus, we have tried out best to put our efforts in the form
of this report. We welcome the suggestions and insights, which
can enhance the quality of report.
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ACKNOWLEDGEMENT
I am really delighted to express few works for them who
have given a great support in preparing this report. It is
successful. Due to not only our efforts but also with co-operation of the Faculty of GEETANJALI COLLAGE who
had an important hand with my efforts.
I am highly thankful to out professor Mr. Nirav S. Joshi
for providing information and giving guidance on different
aspects in the best way in preparing report on Marketing and
Product Mix. All the data given for the project, was just
because of his courtesy. Not only that but he also authorizeduse to contact him at any point of time.,
Ultimately, I am really thankful to our director Mr. S. M.
Jani and I had approached the Mr. Jay Sachdev from Balaji for
the information related to the report and he provided all the
colors of the report. Stickers, all the price list and I mean to say
are his co-operation.
I am really thankful to all those people who are directly or
indirectly helped me to prepare the report more powerful.
Last but not least I would like to thank my friends for
extending great support through out the project.
Date :
Place: Rajkot.
Signature
(Dave Hetal )
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BRIEF HISTORY
Generally, FMCG refers to consumer on-durable goods
required for daily or frequent use. The sector touches every
aspect of human life, from looks to hygiene to palate. Perhaps,
defining and industry whose scope is so vast is not easy. The
food processing industry, due to spending habits of people,
lifestyles, fast environment and others factors, Food industry
have got more a thrust and this has brought about a change I
the attitudes of Food industry I all over the world.
The prospects in the Food industry are very bright both inIndia and abroad. The change in consumer behavior is a big
boost to the Food industry. A country like India has strong
potentials for food industry. Every nook comer of the country
is different in terms of culture and consumption patterns,
which has to e explored and enjoyed. To cover all these
aspects, a user-friendly platform is required so that people can
get their dreams, which cannot possible without such kind ofplatforms.
On the other the changing environment such as life style
of people, culture, trends and traditions, seasonality, festivals
and changing habits of people has opened he new door of
business, which required good health products/services,
satisfaction, relationship and commitments by Food industry.
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The Food Processing Industry has been identified as a
thrust area for development. This industry is included in the
priority lending. India is worlds second largest producer of
food and has the potential to become number one in due course
of time with sustained efforts.
The growth potential of this sector is enormous and it is
expected that the food production will double in the nest 10
years and the consumption of value added food products would
grow at a fast pace. This growth of the Food Processing
Industry will bring immense benefits to the economy, raising
agricultural yields, meeting productivity, creating employmentand raising he standard of very large number of people
throughout the county, especially in the rural areas.
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COMPANY OVERVIEW
Name of the unit :- Balaji Wafers Pvt. Ltd.
Plant addres :- Vad-Vajdi, Kalawad Road,
Rajkot 360 003.
Telophone & Fax No. :- +91-281-2783755/2387132.
+91-281-2783747.
E-Mail Address :- [email protected]
Established year :- 1982
Size of the organization:- Medium Sale Idustry
Form of organization :- Privet limited.
Bankers :- SBI commercial Bank.
Auditors :- DK Patel & Company
Weekly off :- Wednesday
Shift :- 1
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ORGANIZATION CHART
Chairman
Mr. Bhikhubhai Virani
Managing Director
Mr. Chandubhai Virani
General Manager
Mr. Hiteshbhai Virani
Finance
Manger
Production
Manager
Marketing
Manager
Computer
persons
Acc. staff Sup.staff Production
in charge
Workers Labours
Executive
marketing
Others.
Sales
executives
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COMPANY PROFILE
The Success Story of Balaji Wafers Pvt. Ltd.
The company has been engaged in production of
delicious and nourishing food products, which have acclaimed,
varni response of people of Gujarat. It produces Wafers and
Namkeen in its unparalleled and latest fully automatic plant
and having good quality for each product.
Brief History of the Company
Most of the growing companies have a modest
beginning. The infancy of the company began twenty yearsago in 1982 with the efforts of Mr. Popatbhai sons, Mr.
Meghjibhai, Mr. Bhikhubhai, Mr. Chandubhai and Mr.
Kanubhai the members of their family. The initial business was
started in canteen of Astron Talkies. Then it acquired a small
place with every limited investment wit indigenous frying
method. Thereafter, a semi-automatic plant was established
with production capacity of 200 kg per hour. Finally, a fullyautomatic plant, the first of its kind in Gujarat, was established
to offer excellent food products to food lovers of Gujarat.
Best Quality, Affordable Price
It is the policy of the company to accept nothing
less than a perfect. Besides, the company is determined to offer
its products in attractive and weather resistant packing ataffordable prices to all classes of people in Gujarat.
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It is an encouraging fact that the share of the company in
the Brand Loyalty has remained around 70% to 80% in
Gujarat. The stalwarts behind the success story of the company
are Mr. Bhikhubhai (Chairman), Mr. Chandubhai Virani
(Managing Director), and Mr. Kanubhai Virani (Technical
Director), who have also devised an ideal distribution channel
to ensure the supply of fresh products in any comer of Gujarat
within 48 hours. Effective distribution is an important as
efficient production for the growth of the company.
Scaling high with Customer Satisfaction
In the past two decades of life, the ViraniFamily has woven most of its personal activities, aspirations
and dreams with the fabric of the company. These sacrifices
have enabled the company to crave its name in the industrial
history of Gujarat as a unit with most sophisticated and latest
plant.
Companys AchievementsThe companys food products like potato
wafers, banana wafers and other salty products are prepared in
its fully automatic plant with bacteria-free and stringent
hygienic standards. The use of computer system ensures
uniform quality and obviates the necessity for touch of human
hands. The production environments make it possible to make
the products less oily and more nutritive.
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Towards Better Future
In order to meet the increasing demand of the
products, the company has planned to install a sophisticated
and ultra modern computerized plant with production capacity
of 1000-1200 kg per hour on a end measuring 25000 to 30000
meters in the neighborhood of Rajkot.
The Stalwarts behind the Success of the Company
If there is wall, there is way.Mr. Bhikhubhai has proved this. His
foresight, firm determination, readiness
to accept challenges and power of quick
and correct decision have contributed to
his leadership qualities.
He entered
business at the ageof 26 with his
innate skill by his
effort to extract the
best from each
worker at all
levels, and amiable
nature and soon
found the pathway
to success. His friendly approach has
multiplied the zeal of the staff. His He
tamed his luck with bubbling dreams and
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hard work to skill in marketing has added
to the strength of the company achieve
them.
He has won honors of all numbers of
the staff.
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Mr. Kanubhai Virani has deep
interest in electronic and mechanical
field since his childhood. His accuracy,
interest and understanding made him
unique. He never compromises with
quality of products. This is one of the
major reasons for the uninterrupted
progress of the company.
Persistent research is an essential
condition for the development of
every industry. The company cannot
ignore the change in the trends of
customers. Mr. Keyur Virani, the Son
of Mr. Bhikhubhai Virani,(the
Chairman of the Company) joined the
company in 1999-2000 at the age of
23 after studying instrumentation and
control. He brought
a remarkable change during last two
years in the concept of packing, quality
control management and machinery.
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MARKETING FUNCTIONAL AREA
Concept :
Marketing is about people marketers and customers
and about he ways marketers try to create a preface fit betweenthemselves and the customers. Its process of planning and
executing the conception, pricing, promotion and distribution
of ideas, goods and services to create exchanges that satisfy
individual and organizational objectives.
Marketing satisfies needs. Marketing is an exchange of
value. Its an art to sell your products and services. Its processof planning and executing ideas.
The production orientation
The consumer orientation
The sales orientation
Market Segmentation :Market segmentation is the subdivision of market as
based upon the modern marketing concept. It point out that
there are several demand schedules. Each demand schedule
represents a separate market consisting of a group of buyers
with similar needs and characteristics of demand Balaji Wafers
Pvt. Ltd., is having their Marketing Department to keep watch
against the market situation and control the activity related to
marketing.
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The Marketing Manager control the marketing
field related to product, price, promotion and place. Marketing
manager works under General Manager of the company.
Marketing manager has to carry works related to sales
manager, marketing executives, sales executives and workers.
Balaji Wafers Pvt. Ltd., have concentrate more on consumer
thats why decision related to marketing mix is to be taken
depend on consumers.
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ORGANIZATION CHART OF MARKETING
DEPARTMENT
Marketing Manager
Officers
Quality Controller
Research Officer
Supervisor
Workers
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MARKETING DEPARTMENT
Product Planning:-
Balaji Wafers Pvt. Ltd., does not have any specific
product planning but depending on the market environment or
the trends they produce new products in their product portfolio.
Pricing Planning:-
Balaji Wafers Pvt. Ltd., is more conscious about
their price because people are more sensitive to price thats
why they providing best quality at less price again the exactprice policy helps customer for fast transaction.
Advertising:-
Balaji Wafers Pvt. Ltd., has given their
advertisement in different ways. Since they had not given
advertisement in TV because of market criteria and availability
of products. They give their advertisements through Calendars,
Diaries, Paperweight, Wall Paintings, Magazines, Newspapers,and Stickers etc. to communicate with people. On the other
side they are also taking the advantage of Internet which have
unlimited target audience for their products.
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Marketing Research:-
Balaji Wafers Pvt. Ltd., do have marketing research
program to be proactive against future scenario but they do this
kind of activities when requirements is raised. It can be though
professional researchers or from the students of different
professional B-Schools or College Students.
Sales Promotion:-
Balaji Wafers Pvt. Ltd., promote Sales through
giving incentives to their agent and distributors and also by
doing competition among them. They try to keep relationship
to their network and people by providing stickers, calendars,gifts and wishing cards. They are mainly concentrating on their
distribution channel.
Competitors:-
Frito Lays (Kurkure-because of more varieties/flavors
in products) A1 Namkeen (Growing with more quality like Balaji)
Samrat (More in Ahmedabad Capturing more Market)
Local:-
Shakti (because of Health related products)
Ghopal (Capturing slow Market but Growing) Others (Gordhanbhai because of namkeen stre in
different places)
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Innovativeness:-
Recently, Balaji Wafers Pvt. Ltd., have changed the
packaging style of their products, which is really appreciated
by the people of Gujarat. With new concept of packaging and
freshness packets. It gives more brand loyalty to Balaji Wafers
Pvt. Ltd., because of also,
Brand name
Packaging Style
Guaranty and Warranty
After Sale Service
Price and Quality
Varieties of Products
Others
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PRESENT SCENARIO OF COMPETITION
The changed product preference in the market place was
diagnosed to be the main reason for the changing market
shares and the company had taken a member of steps toconform to the new demand pattern in the introduction of its
new products of Balaji Wafers Pvt. Ltd.
In addition to the above new products, launch of a few
more products is planned to meet every niche of the market
and to improve the companys market share in the years to
come.
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*************************************************
There are two more products which is THIKA MITHA
MIX and ALU SEV from which ALU SEV is just recently
produce and introduced in to the marlet.
The Balaji Wafers Pvt. Ltd. falls under the category
of the FMCG and its a medium scale unit. The emphasize has
been given to more on potato wafers but due to changing
trends and demand company is concentrating more on each
products to fulfill the demand of market.
Generally the companies are divided I to two categories;FMCG (Fast Moving Consumer Goods)
Industrial goods.
Companys aim is to satisfy the consumer by
providing the qualitative product at affordable price secondly
todays market is the competitive market each and every kid of
industry is facing competition Balaji Wafers Pvt. Ltd. has alsothe competitors. The competitors so Balaji Wafers Pvt. Ltd.
are:
Frito Lays Product.
A1 Nankeens
Kurkure, (Frito)
Smarat
Other local brand (Shakti, Parag, Gopal etc.)
In spite of having such a big competition Balaji Wafers
Pvt. Ltd. having above 500 Kg. per hour* capacity of
production. (Old plant)
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The latest unit having the high technology ultra modem
computerized plant with the capacity of 1000 1200 Kg. per
hour* I Vad-Vajdi at Kalawad Road.
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CHANNEL OF DISTRIBUTION
Product Flow :-
Payment of flow :-
Information flow ;-
Promotion flow :-
Company
RetailerDistributor Consumer
Company Distributor Retailer Consumer
ConsumerRetailerDistributorCompany
Distributor Retailer
Consumer
Ad. Agency
Company
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It should be realized that marketing and distributing
channels are one of the more stable element in the marketing
mix. A channel is costly and complex to change, unlike. Say,
price, which is easy to manipulate. For instance, to switch from
selective to intensive decision is a top management policy
decision, which will have a direct effect upon sales force
number and even upon the type of selling method to be used.
The main problem that company has to face is in
choosing the most appropriate channel, and from viewpoint of
sales management this includes the type of sales outlets that
must be serviced. Basically a manufacturer has the choice ofthe one of four type of distribution at its disposal.
Direct:-
Here the manufacturer does not use the middleman
and sales and deliver direct to the consumer.
Selective:-Here the manufacturer sales through a limited
number of middle man who are chosen because of their special
abilities and facilities to unable the product to be marketed
more effectively.
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Intensive:-
The intention is to achieve maximum exposure at the
point of sale and the manufacturer sale through as many outlet
as possible the servicing and after sale s aspect are probably
not so important hear. Product examples are Cigarettes,
Detergents, and Spices etc.
Exclusive:-
The manufacturer sales to a restricted no. of dealers
and obvious example is Car industry, where distributor
intermediate must provide the levels of stock holding, after
sales service, etc.
Balaji Wafers Pvt. Ltd. follows intensive distribution
network system.
To implement the overall marketing strategy, the
manufacture needs the cooperation of its distributive outlets. In
fast moving consumer goods market retailer must haveadequate stock of products on had to deliver the customers.
Distribution channel is the key tool to avail product front
manufacturer to the consumer.
Distribution Channel for Gujarat State:-
Balaji Wafers Pvt. Ltd. has very effective
distribution channel which works suitable to the requirement ofits product. Distribution channel of the company for Gujarat as
follow:
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Satisfaction to the intermediate is very necessary. New
form of distributing cant be, selected blindly. What problem
can be created if, new system followed without proper
consideration.
Example:-
Levi Strauss has recently pulled out of direct sales
through the Net. Levis launched their Web site in 1998, which
become and e-salesroom. As these sales cut into their
traditional outlets, Levis found strong resistance from their
existing channels and most. Recently, Levis have withdrawn
from direct sales through the Net.
Company
Distributor
Customer
Retailer
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TERRITORY MANAGEMENT
A sales territory represents group of customer accounts,
and industry, a market or specific geographical area
establishment of sales territories facilitates matching selling
efforts with sales opportunities.
There are five reasons for having sales territories: -
1) To provide proper market coverage
2) To control selling expenses
3) To assist in evaluating sales personnel4) To contribute to sales force moral
5) To aid in the co-ordination of personal selling and
advertising efforts
First of all, a geographical control unit is considered
which its population, which ultimately shows sales potential in
that related area, follows. Generally for every particularretailers, there is one distributor is selected. Therefore, in cities
there is more than one distributor.
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FUTURE STRATEGIES
Research and Development :
The product is well accepted in the market for its
excellent taste ability and good packaging. Some patents have
been applied for covering new inventions generated during the
development stage of this new product.
Upgrades for product quality, size, and packaging etc.
have been introduce in the market.
Development of a new product with modern styling iscomplete. Similarly, the company is working on new product
for companys development. New products are introduced in
the market during the current year.
The company has further strengthened its relationship
with customers of Gujarat and also outside Gujarat. Technical
interactions have enhanced the R&D and product developmentcapabilities of the company.
Productivity, Safety, Health and Environment :
The company has received Many Award for Food
Industry Instituted by National Productivity Council.
Provision of safety equipment, creation of safe working
conditions and adoption of safe working practices are
continuously monitored, resulting in considerable lowering of
frequency rate of accidents.
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The companys department of Industrial Medicine and
Hygiene, during the year under review, carried out medical
examination of the employees apart from its regular duties of
treatment in accident cases, emergency medical care, etc.
The companys Vad-Vajdi plant successfully
implemented Environment Management System (EMS) and
was given the ISO certificate. The companys Vad-Vajdi plant
already holds this certificate. This makes Balaji Wafers Pvt.
Ltd. the first largest multi-location manufacturing company in
Gujarat.
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MARKETING MIX
Marketing mix is the set of marketing tools that the firm
uses to pursue its marketing objectives in the target market.
McCarthy classified these tools into broad groups,
1. Product
2. Price
3. Place
4. Promotion
PRODUCT ;A product is anything that can be offered to a market
to satisfy a need or want. The concept of product is not limited
to physical objects anything capable of satisfying a need is a
product. In addition to tangible goods, products include
services, which are activities or benefits offered for sale that
are essentially intangible and so not result in ownership.
A lot of things gointo make a complete product. The
elements of a product are its quality, features, the brand name,
its packaging and sizes along with discounts, warranties and
other benefits offered with it. Quality of a product is its ability
to satisfy staged needs. A better quality product enhances the
goodwill of the company and also boosts its sales. The more
the different features a product offered the better it is
considered to be a very essential part of a product is this brand.
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PRICE ;
Price is the amount of money consumers is ready to
pay for a particular product.
Price is the value placed on what is exchanged.
Something of value is exchanged for satisfaction and utility,
includes tangible (functional) and intangible (prestige) factors.
Buyers must determine if the utility gained from the exchange
is worth the buying power that must be sacrificed. Price
represents the value of a goods/service among potential
purchases and for ensuring competition among sellers in an
open market economy. It is often the only element the marketercan change quickly in response to demand shifts. The marketer
can use price symbolically to emphasize quality or bargain.
Balaji Wafers Pvt. Ltd. consider the related aspects such
as competitors price, cost including production expenses and
profit margin and other related aspects, which decide the price
of the product.
The price of a product needs to be decided upon keeping
in mind the kind of market the product has whether it is
feasible to offer any kind of discounts that is reductions in
price or if the producer or marketer is in a position to offer any
kind of allowances to the retailers or wholesalers. Price is the
most crucial factor in the entire marketing mix.
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PLACE:
Place deals more with the physical settings of the
product. It includes the channels of distribution and
production. The kind of coverage the company has with the
help of these channels. The different locations of the company
and its outlets. It also includes inventory and transportation.
Balaji Wafers Pvt. Ltd. provides their products to
different place with the help of strong and powerful
distribution network.
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PROMOTION :
Promotions an active, explicit form of marketing
communication. Promotion highlights the marketing elements
in order to increase the odds that consumers will buy and
become committed to the product. Thus, promotion can be
defined as the marketing function concerned with persuasively
communicating to the target audiences the components of the
marketing program in order to facilitate exchange between the
marketer and the consumers.
Promotion is communication with individuals, groups or
organizations to directly or indirectly facilitate exchanges byinforming and persuading one or more audiences to accept the
product or service.
It is basically activities undertaken to communicate the
merits of the product or service and persuade target customers
to but it.
All promotional tools must blend harmoniously into an
effective communication strategy, to meet the promotional
objectives. The components of a promotion mix are
advertising, personal selling, sales promotion and public
relations.
Four types of activities provide the key tools to achieve
the goals of promotion,
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Advertising :
Is any paid form of non-personal
communication and promotion of ideas, goods or services by
an identified sponsor? Although some advertising is directed at
specified individuals,, most advertising messages are tailored
to a group.
Personal Selling :
Is interpersonal communication with one or
more prospective purchasers for the sake of making sales ?
Examples include sales calls to a business by a field
representative.
Public Relations :
Is a co-ordinate attempt to create a favorable
product image in the mind of the public by supporting certain
activities or programs, publishing commercially significant
news are a widely circulated medium or obtaining favorable
publicity.
Sales Promotion :
Consists of marketing activities that add to the
basic value of the product or service for a limited time and
directly stimulate consumer purchasing, stimulate the
distributors to carry the product and promote the product or
service or stimulate the effort of the sales force.
Balaji Wafers Pvt. Ltd. promote their products by
personal selling, advertisement with light boards, banners, wall
painting, gifts, stickers, etc.
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SWOT ANALYSIS
STRENGTH :
1. Strong brand name image company reputation
Balaji Wafers Pvt. Ltd. has been in operation for
over 22 years. Balaji Wafers Pvt. Ltd. recently produce a new
product named Alu Sev on the demand and liked by the
customers. Balaji Wafers Pvt. Ltd. has a story brand image and
brand loyalty synonymous with quality and customer focus.
2. Cost AdvantageBalaji group concentrates on economies of scale,
which results in producing a product at a lowest cost.
Moreover, they developed it with fully automatic plant in
Gujarat, which reduces in hiring costly technology from
outside and results in cost advantage. Thats why Balaji
Wafers Pvt. Ltd. is lowest cost manufactures in this market.
3. A widely recognized market leader and an attractive
base
Due to concentrate on wide middle class, they
produce products at a cheaper rate compare to other and hence
it enjoys leadership especially in Wafers and other products, by
giving it at affordable price.
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4. Wide geographic coverage and a strong distribution
capability
Balaji Wafers Pvt. Ltd. covers first largest market of
the Gujarat. It not only market leader in Gujarat because it has
a strong distribution capability all over the Gujarat and now it
looks for out side the Gujarat.
5. A strong financial condition : ample financial resource
to grow the business
From the latest annual financial reports indicate that
Balaji Wafers Pvt. Ltd. has making profit by which it grows
year after. Moreover, they have reserves some amount of fund,which can be utilized for R&D, work and shows a good
financial condition along competitors. They manage to
maintain profit growth, through producing and developing a
new product in the market.
6. Ability to take advantage of economies of scale
When you want to jumpstart volumes, the onlything that works is price. To compete on price, which was the
way it went. This results in introduction of Alu Sev, whose
price is lesser compare to any of competitors. This makes
Balaji Wafers Pvt. Ltd. products affordable to any class.
Moreover Balaji Wafers Pvt. Ltd. is product is the lower in
price compare to other competitors, which improves the sales.
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WEEKNESS :
1. Cannibalization of products
So many new products may eat in to the market for
existing products of Balaji Wafers Pvt. Ltd. for instance, one
product may eat into the market for another.
2. Underutilization of capacity
3. Lack of Advertisement
It could be weakness not to advertise in TV but
looking into the availability or products to each area of thenand then they should use TV media for their advertisements.
They should go for public relationship by providing free gifts
to schools student or sponsoring festival events. Lack of
professional person in the company. Lower frequency of
advertisement in public place.
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OPPORTUNITIES :
1. Abilities to grow rapidly because sharply rising demand
of Balaji Wafers in food market.
Food products have grown at a healthy rate of over
25% for the last three to four years. And it will remain the
same for the coming couple of years. This motivates I food
product manufacturers to adapt build strategy through
innovation of new design, shape, and size etc., products.
Company should focus more on price to capture the urban
market.
2. Virtual zero maintain once among the products
3. Pricing and Packaging effectively which is much higher
than competitors
4. Launching of new products and variants of existing
products backed up by appropriate marketing efforts.
5. There is quite prospective market in India as well as
foreign country to expand the business of Balaji Wafers Pvt.
Ltd. and producing various flavors depending on market
trends. With changing trends of fast foods, company can open
their retail outlets/restaurants in particular area to making fast
food product.
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THREATS :
1. Threat across the competitors
The threat from the competitor, manufactures who
are some player n to the market, fro which some are from local
market and some are branded companies. Kurkure for Frito lay
is the largest manufacturer, followed by lays, and the Balaji
Wafers Pvt. Ltd. feels that there are at least three more
producers capable of turning out a peace competitive, quality
product in Gujarat.
2. Sustain pricingTo continue computing o piece, Balaji Wafers Pvt.
Ltd. has to keep its cost in cheeked increase its volume at the
same time.
3. Mindset of buyers
Consumer have tried out new products, most middle
class product owners like to stick to tried and tested product.
4. Increase in awareness about the product among the
people.
5. Customers test and preferences
Todays, customer test and preferences or consumer
behavior has been changing they can be easily diverted through
other competitors products due to offer quality, flyover, gifts or
availability, public relationship and other local players is
capturing the slowly the market which should be taken care by
the company.
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6. Government Regulation
7. Dealers not adjusted with changing realities
Some times dealers are hesitated to expand their
godowns due to increase in the product line of the company
because company compels dealers to purchase the entire
product line even though the selling of all the product is not
equal.
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BIBLIOGRAPHY
Marketing Management - PHILIP KOTLER.
Marketing Management - S. A.SHARELEKAR.
WEBSSITE - www.balajiwafers.com
http://www.balajiwafers.com/http://www.balajiwafers.com/