INTERNATIONAL PRODUCT PLANNING AND PRICING STRATEGIES

PROJECT REPORT ONINTERNATIONAL PRODUCT PLANNING AND PRICING STRATEGIES

SUBMITTED BYPRADNYA SHETTYM.Com Part II- Semester IV2014-15

PROJECT GUIDEProf. PASMEEN KAUR SAINI

SUBMITTED TOUNIVERSITY OF MUMBAI

BUNTS SANGHA MUMBAIANNA LEELA COLLEGE OF COMMERCE & ECONOMICSSHOBHA JAYARAM SHETTY COLLEGE FOR B.M.SShashi Manmohan Shetty Higher Education Complex,Buntara Bhavana Marg, Kurla (East), Mumbai 400 070

CertificateBUNTS SANGHA MUMBAIANNA LEELA COLLEGE OF COMMERCE &ECONOMICSSHOBHA JAYARAM SHETTY COLLEGE FOR B.M.SShashi Manmohan Shetty Higher Education Complex,

This is to certify thatMiss. PRADNYA SHETTY of M.Com Part II Semester IV, has undertaken & completed the project work titled INTERNATIONAL PRODUCT PLANNING AND PRICING STRATEGIES during the academic year 2014-15 under the guidance of Prof. PASHMEEN KAUR SAINI submitted to this college in fulfilment of the curriculum of Master of Commerce, University of Mumbai.

This is a bonafide project work & the information presented is true & original to the best of our knowledge and belief.

PROJECT COURSE EXTERNAL PRINCIPAL GUIDE CO-ORDINATOREXAMINER DECLARATIONI, Mrs.PRADNYA SHETTY of Anna Leela College Of Commerce & Economics, Shobha Jayaram Shetty College For B.M.S, M.Com Part II Semester IV, hereby declare that I have completed the project on International Product Planning and Pricing Strategies in academic year 2014-15.The information submitted is true and original to the best of my knowledge.

Signature of the Student

[PRADNYA SHETTY]

ACKNOWLEDGMENT

I hereby acknowledge all those who directly or indirectly helped me to draft the project report. It would not have been possible for me to complete the task without their help and guidance

First of all I would like to thank the principal, Dr. K.S. Cheema and the coordinator Prof. Prashant Shinde, who gave me the opportunity to do this project work. They also conveyed the important instructions from the university from time to time.

Last but not the least; I am thankful to the University of Mumbai for offering the project in the syllabus. I must mention my hearty gratitude towards my family, other faculties and friends who supported me to go ahead with the project.

INTRODUCTION TO PRODUCT PLANNING

Product planning is the ongoing process of identifying and articulating market requirements that define a products feature set. Product planning serves as the basis for decisions about price, distribution and promotion.

What is Product Planning? In order to maximise his sales revenue and profits, a business firm must continuously adjust and adapt its products and services to the changing requirements of customers. From time to time, it may have to design and develop new products. Product planning is the process of searching ideas for new products, screening them into tangible products and introducing the new product in the market. It also involves the formation of product policies and strategies. Product planning includes improvements in existing products as well as deletion of unprofitable or marginal products. It also encompasses product design and engineering which is also called product planning development. Product planning comprises all activities starting with the conception of product idea and ending up with full scale introduction of the product in the market.It is a complex process requiring effective coordination between different departments of the firm. It is intimately related with technical operations of the organisation, particularly with engineering, research and development departments. Any product has two board objectives- immediate objectives and ultimate objectives. Immediate objectives include satisfaction of immediate needs of consumers, increasing sales, utilising idle plant capacity, etc. Permanent or ultimate objectives consist of reduction in production costs, creation of brand loyalty, monopolising the market, etc.

Meaning of Product Planning The process of coming up with a business idea for a manufactured good, preparing the good for production and then introducing it to the market. Product planning involves managing the products manufacture and development by selecting marketing and distribution approaches, making modifications, setting and changing prices and offering promotions.

Definition of Product Planning

Product planning is the process of creating a product idea and following through on it until the product is introduced to the market. Additionally, a small company must have an exit strategy for its product in case the product does not sell. Product Planning entails managing the product throughout its life using various marketing strategies, including product extensions or improvements, increased distribution, price changes and promotions.

Thus Product Planning is required for the following reasons:(i) To replace obsolete products(ii) To maintain and increase the growth rate/ sales revenue of the firm,(iii) To utilise spare capacity(iv) To employ surplus funds or borrowing capacity, and(v) To diversify risks and face competition.

PHASES OF PRODUCT PLANNING

The Phases of Product Planning are as follows:-

1) Developing the Product Concept:-

The First phase of Product Planning is developing the product concept. Marketing managers usually create ideas for new products by identifying certain problems that consumers face or various customers need. For example, a small computer retailer may see the need to create a computer repair division for the product it sells. After the product idea is conceived, managers will start planning the dimensions and features of the product. Some small companies will even develop a product mock-up or model.

2) Studying the market:-

The next step in the product planning process is studying the competition. Secondary research usually provides details on key competitors and their market share, which is the percent of total sales that they hold in the marketplace. The business can then determine places in which it has an advantage over the competition to identify areas of opportunity.

3) Market research:-

A small company should consider doing both qualitative and quantitative marketing research for its new product. Focus groups are an example of qualitative information. Focus groups allow companies to ask their consumers about their likes and dislike of a product in small groups. A focus group allows the company to tweak the product concept before testing it through phone surveys- a more quantitative marketing research function. Phone surveys enable a company to test its product concept on a larger scale, the results of which are more predictable across the general population. Qualitative research is a method of inquiry employed in many different academic disciplines, traditionally in the social sciences, but also in market research and further contexts. Qualitative researchers aim to gather an in-depth understanding of human behaviour and the reasons that govern such behaviour. The qualitative method investigates the why and how of decision making, not just what, when, when. Hence, smaller but focused samples are more often used than large samples. Quantitative research refers to the systematic empirical investigation of social phenomena via statistical, mathematical or computational techniques. The objective of quantitative research is to develop and employ mathematical models, theories and/or hypotheses pertaining to phenomena.

4) Product introduction:-

If the survey results prove favourable, the company may decide to sell the new product on a small scale or regional basis. During this time, the company will distribute the products in one or more cities. The company will run advertisements and sales promotions for the product, tracking sales results to determine the products potential success. If sales figure are favourable, the company will then expand distribution even further. Eventually, the company may be able to sell the product on a national basis.

5) Product Life Cycle:-

Product planning must also include managing the product through various stages of its product life cycle. These stages include the introduction, growth, maturity and decline stages. Sales are usually strong during the growth phase, while competition is low. However, continued success of the product will pique the interest of competitors, which will develop products of their own. The introduction of these competitive products may force a small company to lower its price. This low pricing strategy may help prevent the small company from losing market share. The company may also decide to better differentiate its product to keep its prices steady. For example, a small cell phone company may develop new, useful features on its cell phones that competitors do not have.

PRODUCT PLANNING IN INTERNATIONAL MARKETS

Product Planning involves a number of Product related decisions such as product design, product-mix, branding, pricing, etc. Therefore, the international marketer has to adopt various product planning strategies such as:

1. Product Design Strategies:

International Marketers have the following options in respect of product design strategies: (a) Product Innovation Strategy: A totally new product is developed for foreign markets. For instanc, low cost product may be developed for developing countries, and a premium product may be produced for developed countries. The main advantages are:

Enhancement of corporate image. Increase in customer satisfaction.

(b) Product Adaption Strategy: The domestic product may be modified to suit the requirements of overseas buyers. Even the Brand name may be changed in different markets. For instance, Nestle provide over 100 varieties of Nescafe to satisfy the tastes of different customers in different countries. The Main advantages are:

Helps to gain competitive advantage in overseas markets. Increases export sales in overseas markets.

(c) Product Standardization Strategy: Same standard product sold worldwide. For instance, Coca Cola, Pepsi, Rayban, Rolls Royce, Rolex Watches, Etc., adopt this strategy. The strategy adopted is One Product, One Message,- Worldwide. The main advantages are:

International marketers may get the economies of large scale production and distribution. MNCs from developed countries can take the advantage of Made in Image.

CHOCOLATE

THE VERY WORD MAKES YOUR MOUTH WATER

CHOCOLATE IS MORE THAN JUST A FOOD: ITS A STATE OF MIND

Chocolates

Chocolates! Chocolates!Everybody has a liking for them,be they in the form of barOr a tiny little gem,Or shaped like a rectangle,Or a sphere, a brickor an clair.For chocolate lovers it is fun,To have them during rain,breeze or sun.They are white and brown in colour,And tastes sweet and bittersome have them in aglass of cold coffee, Or in the form of atoffee.Some eat them when they are sad Some relish them when they are happy or have sweet dreams,But I feel, to have chocolatesWe dont need a reason,Cause we can have itAnytime, any season!

2.1 HISTORY OF CHOCOLATE

The origin of chocolate can be traced back to the ancient Maya and Aztec civilizations in Central America, who first enjoyed chocolati a much-prized spicy drink made from roasted cocoa beans. Throughout its history, whether as cocoa or drinking chocolate beverage or confectionary treat, chocolate has been a much sought after food.

The Aztec empire Chocolate(in the form of a luxury drink) was consumed in large quantities by the Aztecs: the drink was described as finely ground, soft, foamy, reddish, bitter with chilled water, aromatic flowers, vanilla and wildbee honey. The dry climate meant the Aztecs were unable to grow cocoa trees, and had to obtain supplies of cocoa beans from tribute or trade

Don Cortes The Spanish invaded Mexico in the 16Th century, by this time the Aztecs had created apowerful empire, and the Spanish armies conquered Mexico. Don Cortes was made captain general and governor of Mexico. When he returned to Spain in1528 he loaded his galleons with cocoa beans and equipment for making the chocolate drink. Soon chocolate became a fashionable drinkenjoyed by the rich in Spain.

Chocolate across Europe An Italian traveller, Francesco carletti, was the first to break the Spanish monopoly. He had visited Central America and seen how the Indians prepared the cocoa beans and how they made the drink, and by 1606 chocolate was well established in Italy

Drinking chocolate The secret of chocolate was taken to France in 1615, when Anne, daughter of Phillip 2 ofSpain married king Louis 13 of France the French court enthusiastically adopted this new exotic drink, which was considered to have medicinal benefits as well as being a nourishing food. Gradually the custom ofdrinking chocolate spread across Europe,reaching England in the 1650s

First chocolate for eating Up until this point all chocolate recipes were based on plain chocolate. It was an English doctor, Sir Hanss Sloane, who- after travelling in south America- focused on cocoa and food values, bringing a milk chocolate recipe back to England. The original Cadbury milk chocolate wasprepared to his recipe.

History:

The earliest record of chocolate was over fifteen hundred years ago in the central America rain forests, where the tropical mix of high rain fall combined with high yearround temperatures and humidity provide the ideal climate for cultivation of the plant from which chocolate is derived, the cacao tree. Chocolate is made from the cocoa bean, found in pods growing from the trunk and lower branches of the cacao tree, Latin name the obroma cacao meaning food of the gods Cacao was corrupted into the more familiar cocoa by the early European explorers. The Maya brewed a spicy, bittersweet drink by roasting and pounding the seeds of the cacao tree with maize and capsicum peppers and letting the mixture ferment. This drinkwas reserved for use in ceremonies as well as for drinking by the wealthy and religious elite; they also ate cacao porridge. The Aztecs, like theMayans, also enjoyed cacaoas abeverage fermented from therawbeans, which again featured prominently in ritual and as a luxury available only to the very wealthy. The Aztecs called this drink xocolatl, the Spanish conquistadors found this almost impossible to pronounce and so corrupted it to the easier chocolat the English further changed this to chocolate. The Aztecsregardedchocolateasanaphrodisiacandtheiremperor,Montezuma reputedly drank it fifty times a day from a golden goblet and is quoted as saying ofxocolatl: the divine drink, which builds up resistance and fights fatigue. A cup of thisprecious drink permits a man to walkfor a whole day without food

2.2 CHOCOLATE PRODUCTION

2.3 CONSUMPTION OF CHOCOLATES IN INDIA Chocolate consumption in India is extremely low. Per Capita consumption is around 160gms in the urban areas, compared to 8-10kg in the developed countries. In rural areas, it is even lower. Chocolates in India are consumed as indulgence and not as a snack food. A strong volume growth was witnessed in the early 90s when Cadbury repositioned chocolates from children to adult consumption.The biggest opportunity is likely to stem from increasing the consumer base. Leading players like Cadbury and Nestle have been attempting to do this by value for money offerings, which are Affordable to the masses.

CADBURY PROFILE

How Cadbury Chocolate is made

John Cadbury Milk chocolate for eating was first made by Cadbury in 1897 by adding milk powderJohn paste to the dark chocolate recipe of cocoa mass, cocoa butter and sugar. By today's standards this chocolate was not particularly good: it was coarse and dry and not sweet ormilky enough for public tastes. There was a great deal of competition from continental manufacturers, not only the French, butalsotheSwiss,renownedfortheirmilkchocolate. Led by George Cadbury Junior, the Bourneville experts set out to meet the challenge. A considerable amount of time and money was spent on research and on new plant designed to produce the chocolate in larger quantities. Arecipewasformulatedincorporatingfreshmilk,andproductionprocesseswere developed to produce a milk chocolate 'not merely as good as, but better than' the imported milk chocolate'. Four years of hard work were invested in the project and in 1905 what was to be Cadbury's top selling brandwas launched. Three names were considered: Jersey, Highland Milk and Dairy Maid. Dairy Maid became Dairy Milk, and Cadbury's Dairy Milk, with its unique flavour and smooth creamy texture, was ready to challenge the Swiss domination of the milkchocolate market. By 1913 Dairy Milk had become the company's bestselling line and in the mid twenties Cadbury's Dairy Milkgained its status as the brand leader, a position it has held eversince.

COMPANY OVERVIEW OF CADBURY INDIA

Cadbury began its operations in 1948 by importing chocolates and then re-packing thembefore distribution in the Indian market. After 59 years of existence, it today has five company-ownedmanufacturingfacilitiesatThane,Induri(Pune)andMalanpur(Gwalior), Bangalore and Baddi (Himachal Pradesh) and 4 sales offices (New Delhi, Mumbai, kolkota and Chennai). The corporateofficeisinMumbai.

Currently Cadbury India operates in three sectors viz. Chocolate Confectionery, MilkFood Drinks andin the Candy category. IntheChocolateConfectionerybusiness,Cadburyhasmaintaineditsundisputed leadership over the years. Some of the key brands are Cadbury Dairy Milk, 5 Star, Perk, clairs and Celebrations. Cadbury enjoys a value market share of over 70% - the highest Cadburybrandshareintheworld!TheirflagshipbrandCadburyDairyMilkisconsidered the "gold standard" for chocolates in India. The pure taste of CDM defines the chocolate taste forthe Indian consumer. In the Milk Food drinks segment their main product is Bournvita- the leading Malted Food Drink (MFD) in the country. Similarly in the medicated candy category Halls is the undisputed leader. The Cadbury India Brand Strategy has received consistent support through simple but imaginative extensions to product categories and distribution. A good example of this is the development ofBytes. Crispy wafers filled with cocacream in theform of abagged snack, Bytes is positioned as "The new concept of sweet snacking". It delivers the taste ofchocolate in the form of a light snack, and thus heralds the entry of Cadbury India into the growing bagged Snack Market, which has been dominated until now by Salted Bagged Snack Brands. Bytes were first launched in South India in 2003. Since 1965 Cadbury has also pioneered the development of cocoa cultivation in India. For over two decades, it has worked with the Kerala Agriculture University to undertake cocoa research and released clones, hybrids that improve the cocoa yield. Today, Cadbury is poised in its leap towards quantum growth and new categories ofbusiness,namelygums,mints,snackingandgifting.ItisapartoftheCadburySchweppes Group, world's No.1Confectionery Company. CADBURY WORLD WIDE

Cadbury is the world's largest confectionery company and have a strong regional presencein beverages inthe Americas and Australia.

With origins stretching back over 200 years, today their products -which include brands such as Cadbury, Schweppes, Halls, Trident, Dr Pepper, Snapple, Trebor, Dentyne, Bubblicious and Bassett - are enjoyed in almost every country around the world.We employaround60,00people.

Their heritage starts back in 1783 when Jacob Schweppes perfected hisprocessformanufacturingcarbonatedmineralwaterinGeneva,Switzerland. And in 1824 John Cadbury opened in Birmingham selling cocoa and chocolate.

These two great household names merged in 1969 to formCadbury Schweppesplc. Since then they have expanded their business throughout the world by aprogramme of organic and acquisition led growth.

Concentrating on their core brands in beverages and confectionery since the1980s, they have strengthened their portfolio through almost fifty acquisitions, including brand icons such as Mott's, Canada Dry, Halls, Trident, Dentyne, Bubblicious, Trebor, Bassett, Dr Pepper, 7 Upand Snapple.

SWOT ANALYSIS OF CADBURY

STRENGTHS Large teeming population of kids and teenagers Well established market Vast variety of Product Easy availability of cocoa in India

WEAKNESS Large Portion of Population suffers from diabetes, cholesterol disorders etc Dental Problems associated with consumption of Chocolates.

OPPORTUNITIES Innovative un captured chocolates in market-(such as sugar free chocolate sector) Large number of occasion celebrations and festivals in which chocks are used as a medium to convey happiness Increasing acceptance of globalisation and better relationship with foreign companies

THREATS Competition- cut throat competition from nestle and international choc brands Negative publicity and contravacies New entrance and individual players (rise in sale in homemade chocolates) Preference and availability of other substitutes (sweets and desert)

PRODUCT LINE The major market of chocolates offers the following products in the market:-1) Chocolates:- Cadbury dairy milk, Perk, Celebrations, Temptation, Five stars and many more2) Snacks:- Cadbury Bytes3) Beverages:- Bourn Vita, Cadbury Delight4) Candy:- Cadbury Halls5) Ice- Cream:- Cadbury Dairy Milk Stick, Cadbury Crunchy Blast Stick, Cadbury Flake 99 cone and many more

NESTLE PROFILE

Nestle India Nestle India is a subsidiary of Nestle S.A. of Switzerland. The company insists on honesty, integrity and fairness in all aspects of its business and expects the same in its relationships.

Nestle India- Presence Across India

Beginning with its first investment in Moga in 1961, Nestls regular and substantial investments established that it was here to stay. In 1967, Nestl set up its next factory at Choladi (Tamil Nadu) as a pilot plant to process thetea grown in the areainto soluble tea. The Nanjangud factory (Karnataka), became operational in 1989, the Samalkha factory (Haryana), in 1993 and in 1995 and 1997, Nestl commissioned two factories in Goa at Ponda and Bicholim respectively. Nestl India is now putting up the 7th factory at PantNagar in Uttaranchal.

Nestle Story

Nestl was founded in 1867 on the shores of Lake Geneva in Vevey, Switzerland and its first product was Farine Lacte Nestl, an infant cereal specially formulated by HenriNestl to provide and improve infant nutrition.

From its first historic merger with the Anglo-Swiss Condensed Milk Company in 1905, Nestl has grown to become the worlds largest and most diversified food Company, and is about twice the size of its nearest competitor in the food and beverage sector.Nestls trademark of birds in a nest, derived from Henri Nestls personal coat of arms, evokes the values upon which he founded his Company.

Namely, the values ofsecurity, maternity and affection, nature and nourishment, family and tradition. Today, It is not only the central element of Nestls corporate identity but serves to define theCompanysproducts,responsibilities,businesspractices,ethicsandgoals.In 2004, Nestl had around 247,000 employees worldwide, operated 500factories in approx. 100 countries and offered over 8,000 products to millions ofconsumersuniversally. TheCompanystransparentbusinesspractices,pioneeringenvironment policy and respect for the fundamental values of different cultures have earned it an enviable place in the countries it operates in. Nestls activities contribute to andnurturethe sustainableeconomicdevelopment ofpeople, communities andnations. Above all, Nestl is dedicated to bringing the joy of Good Food, Good Life to people throughout their lives, throughout the world.

Nestle Brands

Milk Products & Nutrition

Beverages

Prepared Dishes and Cooking Aids

Chocolates & Confectionary

MILK PRODUCTS AND NUTRITION:

Nestle Everyday Dairy Whitener

Nestle Everyday Slim

Nestle Everyday Ghee

Nestle Milkmaid

Nestle Fresh n Natural Dahi

Nestle Fresh n Natural Slim Dahi

Nestle Jeera Raita

Nestle Milkmaid Fruit Yoghurt

Nestle Slim Milk

BEVERAGES:

Nescafe Classic

Nescafe Sunrise

Nestle Milo

Nescafe 3 in1

Nescafe koolerz

PREPARED DISHES AND COOKING AIDS

Maggi 2- Minute Noodles

Maggi Vegetable Atta Noodles

Maggi Dal Atta Noodles

Maggi Rice Noodles Mania

Maggi Sauces

Maggi Pizza Mazza

Maggi Health Soups

Maggi Magic Cubes

CHOCOLATES AND CONFECTIONERY

Nestle Kitkat

Nestle Munch

Nestle Miklybar

Nestle Bar-one

CHAPTER 3

RESEARCH DESIGN METHODOLOGY

This chapter describes the methodology of the study. This project is based on information collected from primary sources. After the detailed study, an attempt has been made topresentcomprehensiveanalysisofconsumptionofCadburyandnestlechocolatesconsumedbythepeople.Thedatahadbeenusedtocovervariousaspectslike consumption, consumers preference and customers satisfaction regarding Cadbury andNestlechocolates. Incollectingrequisitedataandinformationregardingthetopicselected, I went to the residents of Chembur and collected the data.

Survey design: The study is a cross sectional study because the data were collected at a single point oftime. For the purpose of present study a related sample of population was selected on thebasis of convenience.

Sample Size and Design: A sample of 100 people was taken on the basis of convenience. The actual consumers were contacted on the basis of random sampling.

Research Period: Research work is only carried for 2 or3 weeks.

Research Instrument: This work is carried out through self-administered questionnaires. The questions included were open ended, dichotomous and offered multiple choices

Data Collection: The data, which is collected for the purpose of study, is divided into 2 bases:

Primary Source:

The Primary data comprises information survey of Study of Consumer Behaviour towards Nestle and Cadbury Chocolates. The data has been collected directly from respondent with the help of structured questionnaires.

Secondary Source:

The Secondary data was collected from Internet References.

Data Analysis:

The data is analysed on the basis of suitable tables by using mathematical techniques. The technique that I have used is bar technique.

CHAPTER 4

FINDINGS AND ANALYSIS

ANALYSIS OF DATAFINDINGSCONCLUSIONSUGGESTIONS AND RECOMMENDATIONSMETHODOLOGY OF THE STUDY

4.1 ANALYSIS OF DATA

1) Liking of the Chocolates

Ans

Liking of the ChocolatesYesNo

Number of Respondent9010

From the above analysis of the givensample of 100 respondents it is concludedthat out of 100 people 90 people likes to eat chocolate while only 10 people dont prefer to eat chocolate2) Difference age groupAnsAge group0-1010-2020-30Above 30

Number of Respondent11332828

According to the above analysis it is concluded that I have surveyed 100 respondents out of which 11, 33,28, 28 belongs to age group 0-10, 10-20, 20-30, above30respectively.

3) Preference according to the age groupAnsBrands0-1010-2020-30Above 30

Cadbury6211515

Nestle212712

No Consumption3_61

According to the aboveanalysis it is concluded that people of different age groups prefermostly Cadbury brand of chocolate while Nestle brandis least preferred by the age groupbetween 10-20.People of age group above 30 equallylikes to haveboth brands.4) Brand PreferenceAnsBrandPreference by Consumers

Cadbury57

Nestle33

From the above analysis of given sampleof 90 respondents who eat chocolates it is concluded that only 33 people prefer to eat Nestle chocolates while 57 people likes to eat Cadbury chocolates.5).Purchase of Cadbury ChocolatesAnsSub-BrandsNumber of Respondents

Dairy Milk42

5-Star17

Perk14

Celebrations10

Temptation7

From the above analysis of given sampleof 57 respondents who eat Cadbury chocolates it is concluded that mostly people haspurchased Dairy Milk sub-brand of Cadbury while Temptation is least purchasedby the people.

6).Purchase of Nestle ChocolatesAnsSub-BrandsNumber of Respondents

Kit-Kat38

Munch25

Milky- bar12

Bar-one8

Milk Chocolate7

From the above analysis of given sampleof 33 respondents who eat Nestle chocolates it is concluded that mostly all sub-brands are purchased by people but top most is Munch followed by Milky Bar and Kit Kat. While surveying we havefound that many people are not aware of Milk Chocolate

7). Pack of Chocolates Preferred

Pack SIZEGrandTotal of Preference

Small42

Big36

Family pack12

According to the aboveanalysis it is concluded that out of sample of 90 people who eat chocolates likes to buy Small Pack. Family pack is mostly preferred by aged people only.

8). Pack of Chocolates Preferred

Promotional OffersNumber of Respondents

Free Gifts26

Price Offer48

Any other16

According to the aboveanalysis it is concluded that out of sample of 90 people who eat chocolates 26 are attracted by free gifts, 48 by prices offers while 16 were attracted by some other reasons.

9). Factors Affecting Purchase

FactorsNumber of Respondents

Advertisement 43

Suggestion From Friends and Relatives11

Attractive Display10

Doctors Advice3

Brands Ambassadors 3

Ingredients20

10). Media of Advertisement

Media of Advertisement Number of Respondents

Television 70

Newspaper5

Brochures5

Hoarding5

Display3

Ingredients2

11) Frequency of Consumption

Frequency of ConsumptionNumber of Respondents

Once in a Fortnight3

Daily34

Weekly12

Monthly38

Quarterly3

12) Reasonable Price Price of ChocolateNumber of Respondents

Below 56

5-1035

10-2036

20-309

Above 304

13) Consumers Brand LoyaltyBrand Loyalty ActionsNumber of Respondents

Postpone your Purchase33

Switch Over to other Brands15

Go to Other Shop for Search of Preferred Brand42

14) Reaction of Consumers if New Brands is IntroducedShift to New Brands of the Preferred ProductNumber of Respondents

No, Not at all27

May Consider10

No, shall not13

Cant Say40

15) Reasons for Not Switching over to Other BrandsAns. All the consumers why they continue to buy the old Brand gave various reasons. The most important reasons give by the consumers were: Taste/Flavour Brand Image Quality Packaging

4.2 FINDINGS

Consumer Research: Consumer research deals with consumer and their problems and solution to the problems. In this I came to know about the consumers need and expectation levels regarding products and ascertainable levels of consumer satisfaction. Product Research: Under Product research I came to know about the Modification which consumers want as to the quality, packing, shape, colour, and quantity etc of their favourite chocolate Pricing Research: This includes ability to consume, to pay for the product, how much a person can spend on his/her favourite chocolate. In this i have tried to find out consumers price expectations and reactions. Advertising Research: Under this I have concluded that whether the advertisement appeals the Consumers or not. This also includes evaluating and selecting the proper media-mix and measuring advertising effectiveness.

4.3 CONCLUSION

A survey of the people has been conducted to know the Liking pattern of the two products Cadbury and Nestle. It is observed that overall people like to eat Cadbury brand rather than Nestle Brands. It is concluded that mostly people preferred Dairy Milk of Cadbury due to its flavour/taste, quality and image and due to its hard form. Some people often like to have a chocolate with good flavour, quality and crunchiness so they are going towards Bar-one and Milk Chocolates of Nestle due to its taste and crunchiness. It is thus concluded from the facts collected that mostly people refer to buy big pack of their favourite chocolate, and something some of them go for small and family pack.

4.4 SUGGESTIONS RECOMMENDATIONS

Company should concentrate more on television for adverstisement, as mostly for other.For promotional offers, company should go for free gifts rather than going for other waysFor Promotiomn

TheEurocurrencyMarket has its roots in the World War II era. While the war was going on,

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