paramount farms project
TRANSCRIPT
A
PROJECT REPORT
ON
SUBMITTED BY: - SUBMITTED TO:-
KUNDAN KUMAR SINGH PROF. RANJIT MORE
PGDM (BM) Spec. - Marketing
Roll no.-10247 (2010-12)
E-mail id: - [email protected]
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“MARKET SURVEY & SALES PROMOTION “
PARAMOUNT FARMS
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DECLARATION
I KUNDAN KUMAR SINGH hereby declare that the project report titled “MARKET SURVEY & SALES PROMOTION, PARAMOUNT FARMS submitted for the partial fulfillment of the requirement for the award of the post graduate diploma in management is my original project work and has been carried out under the guidance of Mr.RANJEET MORE (MARKETING Lecturer) Institute of international business and research and Mr.NITIN JAIN (DGM) – RETAIL SALES.WEST
………………………………………
Place: KUNDAN KUMAR SINGH
IIBR
Date: Pune
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LETTER FROM ORGANIZATION HEAD
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ACKNOWLEDGEMENT
With immense pleasure, I would like to present this project report for
“MARKET SURVEY & SALES PROMOTION PARAMOUNT FARMS”. It has been an
enriching experience for me to undergo my summer training at paramount farms, which would
not have possible without the goodwill and support of the people around. As a student of
INSTITUTE OF INTERNATIONAL BUSINESS & RESEARCH I would like to express my
sincere thanks too all those who helped me during my practical training programme. Words are
insufficient to express my gratitude toward Mr. NARESH GUPTA,VP-India sales & marketing
PARAMOUNT FARMS, I would like to give my heartily thanks to Mr. NITIN JAIN
(DGM),Retail sales , who permitted me to get training at PARAMOUNT FARMS. I am very
thankful to Mr.RAM DAS BHOYAR (SALES EXUCATIVE), who helped me at every step
whenever needed and who arranged all possible visits for me at PARAMOUNT FARMS, As
we know research work needs hard work, keen insight and long patience with scholarly vision
based on content operation hence it becomes a humble duty to express my sincere gratitude to
Mr.RANJEET MORE Lecture Marketing At last but not least my grateful thanks is also
extended to Mr. S . B MATHUR (Director’ IIBR PUNE) and my thanks to all my faculty
members for the proper guidance and assistance extended by them. I am also grateful to my
parents, friends, Mr.ABHINEET to encourage & giving me moral support.However, I accept the sole responsibility for any possible error of mission and would be extremely grateful to the readers of this project report if they bring such mistakes to my notice.
KUNDAN KUMAR SINGH
PGDM (BM) MARKETING PUNE
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PREFACE
The PGDM program me is well structured and integrated course of business studies. The main objective of practical training at PGDM level is to develop skill in student by supplement to the theoretical study of business management in general. Industrial training helps to gain real life knowledge about the industrial environment and business practices. The PGDM program me provides student with a fundamental knowledge of business and organizational functions and activities, as well as an exposure to strategic thinking of management.In every professional course, training is an important factor. Professors give us theoretical knowledge of various subjects in the college but we are practically exposed of such subjects when we get the training in the organization. It is only the training through which I come to know that what an industry is and how it works. I can learn about various departmental operations being performed in the industry, which would, in return, help me in the future when I will enter the practical field.Training is an integral part of PGDM and each and every student has to undergo the training for 2 months in a company and the prepare a project report on the same after the completion of training.During this whole training I got a lot of experience and came to know about the management practices in real that how it differs from those of theoretical knowledge and the practically in the real life.In today’s globalize world, where cutthroat competition is prevailing in the market, theoretical knowledge is not sufficient. Beside this one need to have practical knowledge, which would help an individual in his/her carrier activities and it is true that “Experience is best teacher
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INDEX
TITLE PAGE NO
INTRODUCTION 9-10
OBJECTIVE 11
SCOPE 12
COMPANY PROFILE 13-22
PRODUCT PROFILE 23-31
RESEARCH METHODOLOGY 32-42
DATA ANALYSIS & INTERPRETATION 43-53
FINDINGS 54-55
RECOMMENDATION 56-57
LIMITATION 58-59
CONCLUSION 60-61
BIBLIOGRAPHY 62-63
ANNEXURE 64-67
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INTRODUCTION OF THE STUDY
“Marketing is a basic that, it can’t be considered a separate function. It is the whole business seen from the point of view of its final result that is the consumer point of view”.
-Peter F Drucker
Decades of sixties were for Engineers, seventies for Doctors, eighties for CA’s and the present is for Manager’s.
The world economy has undergone a radial transformation in the last two decades
Geographical and cultural distance have shrunk significantly with the improvements in the
production, transportation and communication. These advances have permitted companies to
widen substantially both these markets and their supplier sources. And thus the role of marketing
becomes wide.
Marketing is an important subject of MBA curriculum. When a flood of consumer
products are coming into the market, every company needs people specialized in marketing to
promote their product.
“Marketing is to convert social needs into profitable opportunity”
The 21st century is the era of Advertising, Marketing and Sales Production; Marketing is
to convert social needs into profitable opportunities. As it is said “Marketing thinking starts
with the human needs and wants”. Apart from basic necessities of air, water, shelter and
clothing, every person has strong desire for recreation and entertainment. They have strong
preference for particular brand of basic and services. Marketing serves as the link between the
society’s needs and its pattern of Industrial response.
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OBJECTIVE OF THE PROECT
1. To know about decision- makers.
2. To analyze the market potential of the product- WONDERFUL PISTACHIOS, ALMONDS
3. To judge the level of awareness for product- WONDERFUL PISTACHIOS, ALMONDS
4. To check the satisfaction level of existing customers.
5. To know about customer preferences.
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SCOPE OF THE PROJECT
1. Organization point of view
2. Researcher point of view
Organization point of view:
To know the actual position of in the market.
This study ensures the availability of the product in the market.
By this study company can know its growth
The study also helps in the evaluation of the market developer.
Researcher point of view
To learn practical knowledge by the customer.
To know the actual condition of the beverages sector
How to increase sale of the product.
Studying any of the manifold problems in the market.
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Company Profile
Basic InformationCompany Name: Paramount Farms Inc. - EMEA Office
Business Type: Manufacturer
Product/Service(We Sell):
Pistachios, Almonds
Brands: Paramount Farms
Number of Employees: Above 1000 People
Trade & MarketMain Markets: North America
South AmericaEastern EuropeSoutheast AsiaAfricaOceaniaMid EastEastern AsiaWestern Europe
Factory InformationFactory Size (Sq.meters): Above 100,000 square meters
Factory Location: Lost Hills, CA
QA/QC: In House
Management Certification: HACCP ISO 9001:2000 Others
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There are wonderful pistachios in many cities in India some of them are
at:
AGRA BIHAR BHUVNESHVER
DELHI GOA WEST BENGAL
JAIPUR NAGPUR ORISSA
GUJARAT PUNE MAHARASTRA
WONDERFUL PISTACHIOS INPORTED AND MANUFACTURED BY
Paramount farms International pvt.Ltd
C1/653,G.I.D.C,Makarpura,
Vadodara 390010, Gujarat (INDIA)
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MISSION & VISION
Our Mission
We aspire to provide our customers with consistently superior quality, food safety and service by
holding ourselves to standards far beyond our direct competition.We strive for environmental
sustainability in our processes, technologies and packages by conserving energy, water and other
resources.We are proud to grow and process healthy products for healthier lives. And every day,
we try to make them better.From our trees to your hearts.
Our vision
Our vision is put into action through programs and a focus on environmental
stewardship, activities to benefit society, and a commitment to build shareholder value
by making paramount farms truly sustainable company.
Commitement
"paramount farms responsibility is to continually improve all aspects of the world in
which we operate – environment, social, economic – creating a better tomorrow than
today."
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About Paramount Farms
ParamountFarmsistheworld'slargestverticallyintegratedsupplierofpistachiosand
amonds,andthe company’s30,000acrepistachioorchard,locatedinCalifornia's
SanJoaquinValley,isthelargestintheworld.Dedicatedtoquality,ParamountFarmshaspioneeredadvancesinorchardmanagementandstate‐of‐the‐art processing,packaginganddeliverytechnologiesandisthefirstnutsupplierintheU.S.toreceiveISO9000certification.ParamountFarms’pistachioscanbefoundintheproducedepartmentofgrocerystoresnationwidesoldunder the Wonderful
History:Roll International Corporation, a private company, is made up of a collection of companies
owned by husband-and-wife team Stewart and Lynda Resnick. The biggest and best known of
the operations are the Franklin Mint, the world's largest collectibles company, and Teleflora
LLC, the world's largest florist network. The other Roll subsidiaries are pistachio producer
Paramount Farming Co., citrus grower and packer Paramount Citrus, processor and marketer
Paramount Farms, and Bundy Properties, which owns and manages commercial properties in Los
Angeles and Pennsylvania.
Forming a Holding Company in the 1960s
The Resnicks started their empire by buying Teleflora, a flowers-by-wire company. They then
bought American Protection Industries Inc. (API), a security company. API Alarm Systems,
which started in the 1960s, provided both patrols and alarm systems. The alarms, installed in
retail, office, and industrial buildings as well as in houses, were connected to monitoring centers.
If an alarm went off, an operator at the center could summon the closest police or fire
department. By 1987, it was the largest alarm company in California.
The Resnicks made API their holding company, with API Alarm Systems another subsidiary. In
1989, they sold the subsidiary to the British company Automated Security Holdings plc (ASH)
for $105 million. At that time, API Alarm Systems served some 21,000 customers and had seven
central stations. The Resnicks, however, kept the API name. In 1993 they renamed their holding
company Roll International after an agricultural company they had acquired.
Late 1970s Addition of Teleflora LLC
Sending out-of-town flower orders by wire began in 1910 when two U.S. florists agreed to
telegraph each other orders and then settle up on costs. Thus was born Florists' Transworld
Delivery Association (FTD). In 1934, attorney Edwin S. Douglas founded a rival service.
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Originally called Telegraph Delivery Service, the name was changed to Teleflora. The Resnicks
bought the California-based company in 1979 after it had changed hands several times.
A year after the purchase, Lynda Resnick introduced the concept of keepsake containers and
revolutionized the floral delivery business. Instead of just wiring a flower arrangement or a
dozen flowers, people could order their flowers in a special vase or basket that the receiver could
use after the flowers died.
In 1987, the company set up its Teleflora Technologies division, providing retail members a
computer system with software specifically designed for florists, and Creditline, which allowed
members to process credit card purchases immediately. The company also published an award-
winning magazine for the retail floral business.
But by the early 1990s customers had options other than wire services for out-of-town orders.
Toll-free telephone numbers were the biggest competition, although catalogs and online delivery
services added to the problem. In 1993, Roll made the first of its three bids for FTD. A year later,
the FTD board rejected Roll's final bid of $175 million, which consisted of $140 million in cash
and taking over FTD's debt of $35 million. The merger would have positioned Roll to dominate
the industry, but FTD announced it would instead accept a lower bid from Perry Capital Inc. The
nonprofit florist cooperative became essentially a trade group representing member florists. The
business ventures became part of FTD Inc., a for-profit corporation. One of the first initiatives of
the new owners was the establishment of FTD.com, an online service for order flowers.
Teleflora continued to look for acquisitions. In 1997, the company became the largest florist
network in the country with the purchase of Redbook Florist Services. The next year it acquired
Daisy Systems, which provided computerized shop-management systems to retailers. Building
on those systems, Teleflora introduced its 'Teleflorist Online' service in October 2000. The new
service offered Teleflora's 27,000 members professionally designed and managed web sites with
e-commerce support such as credit card processing, e-mail gift reminders, and an online address
book for customers. Unlike competitor FTD.com, Teleflora's approach was to help its members
establish their own online businesses (with their own web sites) and to keep their own customers
along with 100 percent of their revenue.
1980s Entry into Agricultural Subsidiaries
The Resnicks moved into agribusiness in the mid-1980s. They first bought a citrus growing and
processing operation near Bakersfield, California, which became Paramount Citrus Association.
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Paramount Citrus grew and packed fruit for both the retail and wholesale markets, selling
oranges, lemons, apples, and grapefruit. The company sold much of its juice as Alpha-Beta.
In 1986, they purchased Apex Orchards from Mobil Oil for $30 million. The 12,000-acre
pistachio and almond farm near Bakersfield was renamed Paramount Farming Co. The next year
the Resnicks bought Texaco's central California farming operations, adding some 77,000 acres of
farmland, also in the San Joaquin Valley.
In 1989 the Resnicks formed Paramount Farms, a processing and marketing group that sold
pistachios and almonds under its own label as well as wholesale. Paramount Farms' nuts were
soon selling across the country and internationally, primarily to cereal and candy manufacturers,
including Cadbury, Nestle, Hershey, Carnation, and Kellogg. Over the years, Paramount Farms
expanded its processing and marketing operations to include citrus, olives, and pomegranates. In
1993, Paramount Farms and the Pistachio Producers of California (PPC) formed a marketing co-
op called Cal-Pure Pistachios and began offering pistachios under the Sunkist name. By 1996,
Paramount Farms was the largest grower, processor, and marketer of almonds and pistachios in
the world.
By the late 1990s, Paramount Citrus had become one of the state's largest citrus producers. In
2000, the company bought 3,912 acres and several packing houses from Dole Food Co. for $55
million. The purchase, which brought its total acreage of citrus to nearly 27,000, made
Paramount Citrus the largest grower, packer, and marketer of fresh citrus in the country.
Addition of The Franklin Mint
In 1964, Joseph Segal founded General Numismatics, a company devoted to producing and
marketing commemorative coins, medals, and other metal objects. The company's first coin was
a commemorative of General Douglas MacArthur. Segal, who paid a medal manufacturer
$10,000 to make the MacArthur coin, advertised his product in collectors' magazines and was
soon making $10,000 a month. Segal set up his own production facility and in 1965 took the
company public and changed the company's name to Franklin Mint. Within two years, Segal had
built a new headquarters and a modern mint and foundry near Media, Pennsylvania, a
Philadelphia suburb. When Segal retired in 1973, Franklin Mint had sales of nearly $113 million
and earnings of over $9 million as well as its own post office. Sales during the 1970s peaked in
1975 at $233.9 million. After that, sales dropped, although they remained in the $150--$200
million range throughout the decade.
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Warner Communications (now Time Warner) purchased The Franklin Mint and its Franklin Mint
Museum in 1981, paying some $250 million for the operation. At that point, Franklin Mint
became a subsidiary of Warner. In 1984, Warner sold a majority interest (70 percent) to the
Resnick's American Protection Industries for $167.5 million. It retained the administration
building, minting facilities, library, mailing center, and a retail store. Stewart Resnick became
chairman and Lynda vice-chairman. In its first year of operation under the Resnicks, Franklin
Mint had sales of about $250 million, but it lost money from 1988 through 1990. In 1991 it
earned $9.1 million, about what its profits were when Segal retired in 1973.
As the Resnicks expanded Franklin Mint's offerings, they also set about making Franklin Mint
Museum a tourist destination. The museum, which opened in 1973, contained about 7,000 square
feet of exhibit space. A visitor could find the major items from the Franklin Mint offerings and
trace popular tastes--pewter during the American Bicentennial, the growth of fantasy, and dolls,
dolls, dolls. In the museum's gift shop, visitors could buy any of the items they had just viewed.
In 1992, the Resnicks were considering taking Franklin Mint public. They hoped to raise $100
million and use most of it to repay bank debt and interest owed to Time Warner. However, the
stock sale was canceled. Allan Sloan, writing about the proposed public offering in The
Washington Post, noted that Franklin Mint spent $140 million to make its products in 1991 and
$184 million to market and promote them. Sales for 1991 were $538 million, more than 250
percent over its cost of goods.
The company the Resnicks proposed taking public was very different from the one they had
bought from Warner Communications. It now manufactured collectibles, not commemoratives.
In 1993 it promoted over 950 products: jewelry, Christmas ornaments, plates, dolls, games,
religious sculptures, miniature cars, Arthurian swords, Faberge-type eggs, scale model replicas
of the Harley-Davidson Heritage Softail. There was also a magazine for collectors, Almanic.
Coins represented less than three percent of the company's total business. Franklin Mint retail
stores were opening and there were plans for catalogs, clothing, cosmetics, and perfume. By
1994, Franklin Mint had expanded to a 187-acre campus, and was housed in a facility larger than
ten football fields. It also had employees in 20 countries.
The 1990s and Beyond
While Stewart Resnick was seen to be the financial and organizational genius behind the
transformation of Franklin Mint, Lynda Resnick was acknowledged as the marketing and
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aesthetic genius. Art collectors themselves, the Resnicks understood that people are passionate
collectors. What they learned from their experience at Franklin Mint is that people collect by
theme, such as wildflowers or dogs or movie stars, and by form--dolls, plates, games. With that
knowledge, they saw the potential for crossover sales.
Lynda Resnick also had a keen feel for cultural trends, which she augmented with equally
talented staff around the world. In the mid-1990s she began establishing licensing agreements,
first with museums, including the Vatican Museum and the Louvre, and then with celebrities (or
their estates), including Elvis. She added fashion designers, then moved to agreements with
corporations, including Coca Cola, Campbell Soup, and Parker Bros., as well as movie
companies. One reason the corporations found an agreement with Franklin Mint attractive was
the company's advertising budget ($120 million in 1995) and range. Their ads in Parade, TV
Guide, and USA Weekend magazines reached more than 70 million households each week.
However, collectible sales were beginning to shift from direct marketing to retail and TV
shopping. In 1995, top management from several companies left the collectible business. This
included Tom Dorovsik, president of Franklin Mint, who joined U.S. Healthcare. Sales were
strong but profits were weak and there appeared to be a need for more products.
Lynda Resnick's response was to buy Jackie Kennedy Onassis' faux pearls for $211,500 when
Southeby's auctioned the former first lady's possessions in 1996. At the Franklin Mint, a replica
of the pearls sold for $195 and was an immediate hit. Resnick also bought one of Princess Di's
evening dresses, and displayed it in the museum. A version of the gown clothed the Mint's
Princess Diana porcelain doll, which also sold for $195. As Resnick explained to David Richards
in his 1998 article in The Washington Post, 'Nothing lasts. What the Franklin Mint does is create
a permanence about the memories we have of the past.' Meanwhile, the company had expanded
its retail operations to 50 stores .
Franklin Mint began having some problems in 1997, when Tiger Woods sued the company after
it produced a commemorative medal of his win in the 1997 Masters tournament. Franklin Mint
paid Woods an undisclosed amount of money to settle the case. In May 1998, the estate of
Princess Diana filed a lawsuit to keep Franklin Mint from profiting from the sale of
commemorative Princess Di merchandise. In addition to the Diana porcelain doll and a
commemorative plate, Franklin Mint sold a jeweled tribute ring and a diamond pendant. The
case was not settled until January 2000, when the judge ruled in favor of Franklin Mint. In
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reality, Franklin Mint had donated over $4 million to charities supported by the late princess.
The legal battles led to rumors that the Resnicks were considering selling Franklin Mint. The
company quickly denied the reports.
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The products manufactured and supplied by PARAMOUNT FARMS PVT. LTD. Which supplies the concentrates for different brands of dry foods.
These are:-
1. WONDERFUL PISTACHIOS
2. ALMONDS
About Wonderful Pistachios
TheWonderfulPistachios brandfeaturesupscale,premiumpackagingandaboldcontemporarylook,appealingtoasophisticated,health‐consciousconsumer.WonderfulPistachiosaregrowninLostHills,California,partoftheSanJoaquinValley,theagriculturalheartlandofCalifornia.Grown,processedandpackagedbyParamountFarms,WonderfulPistachiosareavailableatretailoutletsandgrocerystoresnationwide includingAlbertsons,GiantEagle,Kroger,Safeway,VonsandWegmans; andareavailablein avarietyofsizes.Formoreinformation,visit
www.WonderfulPistachios.com
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Nutrition ( excluding shells )
Typical composition 25g 100g 200gEnergy 143 kcal 571kcalProtein 5.3g 21.3gCarbohydrate 6.9g 27.7gOf which sugars 1.9g 7.8gFat 11.5g 46.0gOf which saturates 1.4g 5.6gMono-unsaturates 6.1g 24.2gPolyunsaturates 3.5g 13.9gTrans fats 0.0g 0.0gCholesterol 0.0g 0.0gFibre 2.6g 10.3gSodium 0.13g 0.53g
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2. ALMONDS
Almond Accents flavored sliced almonds are 100% natural. They do not contain any
preservatives, artificial ingredients or added oil, just as nature intended. Available in 7 mouth-
watering flavors, Almond Accents gives ordinary dishes a gourmet touch. Toasted golden brown
and seasoned to perfection, these versatile sliced almonds bring intense flavor, visual appeal and
added crunch to salads, main dishes and desserts. They're great for sprinkling on everything from
yogurt to vegetable casseroles. Almond Accents also make a delectable snack--right from the
bag! Located in the Produce Section.
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PRICING POLICIES
The company first has to decide what it wants to accomplish with its particular product offer. If
the company has selected its target market and market positioning carefully, then its marketing
mix strategy- including price – will be fairly straight forward.
Determining Demand:
Each price that the company might charge will lead to a different level of demand and will
therefore have a different impact on its marketing objectives. The relation between alternative
prices that might be charged in the current time period. In the normal case, demand and price are
inversely related. That is, the higher the price, the lower the demand, and the lower the price, the
higher the demand.
Demand sets a selling on the price that the company can charge for its product. And company
costs set the floor. The company wants to charge a price that covers its cost of producing,
distributing, and selling the product, including a fair return for its effort and risk.
SELECTING A PRICING METHOD:
Given the three Cs- the customer’s demand schedules, the cost function, and competitor’s prices-
the company is now ready to select a price. Within the range of possible determined by market
demand and costs, competitor’s costs, prices, and possible price reactions help the firm establish
where to set its price. The S.M.V. Beverages Pvt. Ltd. needs to benchmark its costs against its
competitor’s costs to learn whether it is a operating at a cost advantage or disadvantage. The
company also needs to learn the price and quality of competitor’s offers. The firm send out
comparison shoppers to price and assess competitors offers, acquire competitors price lists, buy
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competitors equipments and take it apart, and ask buyers how they perceive the price and quality
of each competitors offer. Once the company is aware of competitors prices and offers, it use
them as an orienting point for its own pricing .If the firm‘s offer is similar to a major competitors
offer, then the firm will have to price close to the competitors or lose sales. If the firm’s is
inferior, the firm will not be able to charge more than the competitors. If the firms offer is
superior, the firm can charge more than the competitors. The firm must be aware, however, that
competitors might change their prices in response to the firm’s price. In other words we can say
that the S.M.V. Beverage adopt the going rate pricing method. In going rate pricing, the firm
pays less attention to its own costs or demand and bases its price largely on competitor’s prices.
SALES PROMOTION ACTIVITIES
1) Sales Promotion :
It is a short-term incentive given to the customer to encourage trial or purchase of a
product or service. It stimulates consumer to purchase a product. According to
American Marketing Association “These marketing activities other than personal selling,
advertising and publicity that stimulates consumer purchasing and dealer effectiveness
such as display shows and exhibition, demonstrations and various non-recurrent selling
efforts not in the ordinary routine”. As a part of sales promotion PepsiCo provides the
customers and dealers with the free vouchers in which all types of details are mentioned
of their brands or products and also draw system at dealer’s level of promotion.
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Tools of Sales Promotion
To increase the sale of any product manufactures or producers adopt different measures like
sample, gift, bonus, and many more. These are known as tools or techniques or methods of sales
promotion. Let us know more about some of the commonly used tools of sales promotion.
(i) Free samples: You might have received free samples of wonderful pistachios, almonds,
etc. while purchasing various items from the market. Sometimes these free samples are also
distributed by the shopkeeper even without purhasing any item from his shop.These are
distributed toattract consumers to try out a new product and thereby create new customers. Some
businessmen distribute samples among selected persons in order to popularize the product. For
example, in the case of medicine free samples are distributed among physicians,in the case of
textbooks, specimen copies are distributed among teachers.
(ii) Premium or Bonus offer: A milk shaker along with Nescafe, mug with Bournvita,
tooth brush with 500 grams of toothpaste, 30% extra in a pack of one kg. are the examples of
premium or bonus given free with the purchase of a product. They are effective in inducing
consumers to buy a particular product. This is also useful for encouraging and rewarding
existing customers.
(iii) Exchange schemes: It refers to offering exchange of old product for a new product at
a price less than the original price of the product. This is useful for drawing attention to product
improvement. ‘Bring your old mixer-cum-juicer and exchange it for a new one just by paying
Rs.500’ or ‘exchange your black and white television with a colour television’ are various
popular examples of exchange scheme
(iv) Price-off offer: Under this offer, products are sold at a price lower than the original
price. Rs. 2 off on purchase of a lifebouy soap, Rs. 15 off on a pack of 250 grams of Taj Mahal
tea, Rs. 1000 off on cooler’ etc. are some of the common schemes. This type of scheme is
designed to boost up sales in off-season and sometimes while introducing a new product in
the market.
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(v) Coupons: Sometimes, coupons are issued by manufacturers either in the packet of a
product or through an advertisement printed in the newspaper or magazine or through mail.
These coupons can be presented to the retailer while buying the product. The holder of the
coupon gets the product at a discount. For example, you might have come across coupons like,
‘show this and get Rs. 15 off on purchase of 5 kg. of Annapurna Atta’. The reduced price under
this scheme attracts the attention of the prospective customers towards new or improved
products.
(VI) Scratch and win offer: To induce the customer to buy a particular product ‘scratch
and win’ scheme is also offered. Under this scheme a customer scratch a specific marked area
on the package of the product and gets the benefit according to the message written there. In this
way customers may get some item free as mentioned on the marked area or may avail of price-
off, or sometimes visit different places on special tour arranged by the manufacturers.
(V) Money Back offer: Under this scheme customers are given assurance that full value of
the product will be returned to them if they are not satisfied after using the product. This creates
confidence among the customers with regard to the quality of the product. This technique is
particularly useful while introducing new products in the market.
Importance of Sales Promotion
The business world today is a world of competition. A business cannot survive if its products do
not sell in the market. Thus, all marketing activities are undertaken to increase sales. Producers
may spend a lot on advertising and personal selling. Still the product may not sell. So incentives
need to be offered to attract customers to buy the product. Thus, sales promotion is important to
increase the sale of any product.
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RESEARCH METHODOLOGY
MEANING OF RESEARCH
Research in common parlance refers to a search for knowledge. One can also define
research as, a scientific and systematic search for pertinent information on a specific topic. In
fact, research is an act of scientific investigation. The advanced learner Dictionary of
Current English lays down the meaning of research as, a careful investigation or
inquiry especially through search for new facts in any branch of knowledge. Redman and
Mory define research as, a systematized effort to gain new
knowledge. Research is an academic activity and as such the term should be used in a
technical sense. According to Clifford Woody research comprises defining and redefining
problems, formulating hypothesis or suggested solution; collecting, organizing and
evaluating data; making deductions and reaching conclusions; and at last carefully
testing the conclusion to determine whether they fit the formulating hypothesis. It is the
pursuit of truth with the help of study,
observation, comparison and experiment. In short, the search for knowledge through
objective and systematic method finding solution to problem is research.
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OBJECTIVES OF RESEARCH
The purpose of research is to discover answer to questions through the application of
scientific procedures. Through each research study has its own specific purpose, we may think
of research objectives as falling into a number of following groups: -
To gain familiarity with a phenomenon or archive new insights into it.
To portray accurately the characteristics of a particular individual, situation
or a group.
To determine the frequency with which something occurs or with which it is
associated with something else.
To test a hypothesis of a casual relationship between variables.
MEANING OF RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the research problem. It may
be understood as science of studying how research is done scientifically. In it, we study
various steps that are generally adopted by a researcher in studying his research problem
along with logic behind them. It is necessary for researcher to know not only the research
methods/ techniques but also the methodology. Research methodology has many dimensions
and research methods. do constitutes a part of the research methodology. Thus, when
we talk of research methodology we not only talk of research methods but also consider
logic behind the methods we use in context of our research study and explain why we are
using a particular method or technique and why we are not using others so that research
result is capable of being evaluated either by the researcher himself or by others.
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RESEARCH PROCESS
Before embarking on the details of research methodology and techniques, it seems appropriate to
present a brief overview of research process. Research process consists of a series of action or
steps necessary to effectively carry out research and the desires sequencing of these steps. The
following order concerning various steps provides a useful procedural guidelines regarding
the research process:
Formulating the research problem.
Extensive literature survey.
Development of working hypothesis.
Preparing the research design.
Determining sample size.
Deliberate sampling.
Simple random sampling.
Systematic sampling.
Stratified sampling.
Quota sampling.
Cluster sampling and area sampling.
Multi stage sampling.
Sequential sampling.
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Collecting the data.
By observation.
Through personal interview.
Through telephone interview.
By mailing of questionnaires.
Through schedules.
Execution of the proj ect.
Analysis of data.
Hypothesis testing.
Generalization and interpretation.
Preparation of the report or the thesis.
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TYPES OF RESEARCH
Descriptive research.
Analytical research.
Applied research.
Fundamental research.
Quantitative research.
Qualitative research.
Conceptual research.
Empirical research.
The above-mentioned are the various type of research, which a researcher can apply
in order to achieve one s desired obj ective. Therefore, to achieve the objectives of my
research I have used Applied research. This will be based on proper Research design to
meet the obj ectives of the proj ect /study.
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METHODOLOGY OF THE STUDY:-
Exploratory:
To find the per day stock and per day sale at different outlets exploratory research method are
adopted. A survey form was prepared and the retailers were asked to answer them during the
course of their interview.
Schedule:
Dealer’s responses were conducted with the help of a prepared schedule. Samples are taken at
different locations pune
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SAMPLING
It involves procedures that use a small part of population to make conclusion regarding
the whole population. Sampling plan for the project. GEOGRAPHICAL / SAMPLE
AREA
INSIDE PUNE
All Peth Areas.
ShivajSi Nagar.
J.M.Road.
F.C.Road.
Prabhat Road.
Ghole Road.
Wanewari.
Null Stop.
Karve Nagar.
Paud Road.
Kothrud.
M.G.Road.
Swargate.
Bibewadi.
Dhankawdi.
Pune - Satara Road.
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Wakdewadi.
Pune-Mumbai Road
Pimpri.
Chinchwad.
MIDC.
Bhosari.
Nagar Road.
Vadgaeon Sheri.
Hadapsar.
Kondhwa
Pune - Nasik Road.
Waked
Hinjewadi
Viman nager
Bhandarkar Road.
SAMPLING
Corporate offices
Offices of Chartered Accountant.
Offices of Company Seceretary
Offices of Cost Accountant.
Hotels, bar & restaurants
SAMPLE SIZE
400.
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SAMPLE PROCEDURE
Random.
TARGET CUSTOMER
Directors of Companies.
Company Secretaries.
Chartered Accountants
Cost Accountants.
Company employers
DATA COLLECTION
The proj ect was to check feasibility of the product offered by paramount farms Pvt Ltd.
using both primary and secondary data.
PRIMARY DATA
The primary data was obtained through direct communication with the people and filling up
of questionnaires, also enormous help was obtained from wonderful pistachios paramount
farms. Pvt . Ltd. seniors and colleagues working there.
SECONDARY DATA.
The secondary data was collected through the
Yellow Pages.
Internet.
M.I.D.C. Office.
Journals, newspapers & Magazines.
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FIELD WORK PLAN
The fieldwork was carried according to the sampling plan formed, by Direct communication
with the people, visiting the offices of Company Secretaries & Chartered Accountants
firms under some limitations and time constraints.
PROMOTIONAL ACTIVITIES
The promotion of the wonderful pistachios
1. Setting up promotional Stalls in the premises of Seminar held by Institute of Chartered
Accountant, Institute of Company Secretary or Ministry of Company Affair.
2. Promoting the product through Direct selling.
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DATA ANALYSIS
AWARENESS ABOUT PARAMOUNT FARMS PRODUCT PISTACHIOS & ALMONDS
TABLE-I
TARGET CUSTOMERS AWARENESS
YES PARTIALLY NO
DIRECTORS OF COMPANIES 27% 35% 28%
PURCHASE MANAGER 78% 10% 12%
HR OF COMPANIES 68% 12% 20%
EMPLOYEE OF COMPANIES 56% 20% 24%
AWARENESS OF PARAMOUNTS FARMS PODUCTS
directors of companies
purchase manager hr of companies employee of companies
0%
10%
20%
30%
40%
50%
60%
70%
80%
yespartiallyno
INTERPRETATIONS
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TABLE –I
The study suggests that, awareness level about among Directors of Companies is very low,
but among Purchase manager & HR of company & company employee awareness level
about is very well .
AWARENESS ABOUT PARAMOUNT FARMS PRODUCT PISTACHIOS
TABLE- I I
TARGET CUSTOMERS AWARENESS
YES PARTIALLY NO
DIRECTORS OF
COMPANIES
30% 40% 30%
PURCHAGE MANAGER 70% 20% 10%
HR OF COMPANIES 50% 30% 20%
EMPLOYEES COMPANIES 60% 20% 20%
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AWARENESS ABOUT PISTACHIOS
DIRECTOR OF COMPANIS
PURCHASE MANAGER
HR OF COMPANIS EMPLOYEE OF COMPANIS
0
10
20
30
40
50
60
70
80
YESPARTIALLYNO
INTERPRETATIONS
TABLE-II
Study shows that Directors of Companies have not that much knowledge about
wonderful pistachios. For wonderful pistachios, they mostly depends on there respective
purchase manager or HR of company. Purchase manager or HR of company are aware about
paramount farms proj ect but they have not much knowledge about wonderful
pistachios or they are not much seriously thinking about wonderful pistachios .
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TABLE-III
PISTACHIOS ACQUIRED CUSTOMBER
PISTACHIOS ACQUIRED
CUSTOMER
IN%
YES 64%
NO 36%
PISTACHIOS ACQUIRED CUSTOMBER
YES64%
NO36%
PISTACHIAS ACAUIRED CUSTOMER
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INTERPRETATIONS
TABLE –III
As per survey, 64% customers acquired wonderful pistachios &only 36% customers are
not acquired wonderful pistachios. So, a very big portion of market is untapped. Paramount
farms pvt.ltd
INTERESTED CUSTOMER TO ACQUIRED WONDERFUL PISTACHIAS
TABLE-IV
INTERESTED IN %
YES 64
NOT YET 16
NO 20
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YES64%
NOT YET16%
NO 20%
INTERESTED CUCTOMER TO ACQUIRED WONDERFUL PISTACHIAS
INTERPRETATIONS
TABLE IV
As per survey, 36% customers are not acquired wonderful pistachios. Out of these 36%
customers, 64% customers want to wonderful pistachios & 16% customers want to
acquire wonderful pistachios not yet. So, these 16% customers is having potential, so
Company should concentrate on these customers.
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CUSTOMER ACQUIRED WONDERFUL PISTACHIAS PARAMOUNT FARMS
PVT.LTD
TABLE-V
WONDERFUL PISTACHIAS
ACQUIRED FROM
IN %
PARAMOUNT FARMS 45
OTHER 55
PARAMOUNT FARMS
45%OTHER RA55%
CUSTOMER ACQUIRED WONDERFUL PISTACHIAS FROM PARAMOUNT FARMS
PVT.LTD
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INTERPRETATIONS
As per study, satisfaction level of existing clients of paramount farms Pvt. Ltd. is very
high.paramount farms Pvt. Ltd. is having a low market share as compared to market
available, but existing customers are satisfied. And, this is the main reason behind Word of
Mouth publicity
SATISFACTION LEVEL OF THE EXISTING CUSTOMER OF WONDERFUL
PISTACHIA
IN PARAMOUNT FARMS PVT .LTD
TABLE- VI
SATISFACTION
LEVEL
IN %
VERY SATISFIED 30
SATISFIED 60
NOT SATISFIED 10
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VERY SATISFIED SATISFIED NOT SATISFIED0
10
20
30
40
50
60
70
SATISFACTION LEVEL OF THE EXISTING CUSTOMER OF WONDERFUL PISTACHIA IN
PARAMOUNT FARMS PVT.LTD
SATISFACTION LEVEL OF THE EX-ISTING CUSTOMER OF WON-DERFUL PISTACHIA IN PARA-MOUNT FARMS PVT.LTD
INTERPRETATIONS
TABLE VI
As per bifurcation of existing customers of paramount farms Pvt. Ltd., maximum
customers are purchase manager. But as per paramount farms proj ect, the necessity of
wonderful pistachia is mainly for Directors of Companies. But as per survey, most of
the Directors of Companies completely depends on their Company purchase manager
or HR of company . There are very less number of Directors those are acquired these thing them
self. Most of Directors after
50
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FINDINGS
1. People are not much aware about wonderful pistachios
2. Study shows that wonderful pistachios product provided by paramount farms Pvt. Ltd. is
the best product.
3. Product provided by paramount farms Pvt. Ltd. about wonderful pistachios is unique
in Pune, because no any other company provides good quality products wonderful
pistachios in Pune.
4. paramount farms Pvt. Ltd. get most of the benefits from Word of Mouth publicity.
5. Paramount farms Pvt. Ltd. is the only company who provides wonderful pistachios within
One Hour after taking order .
6. Paramount farms Pvt. Ltd. charged price on wonderful pistachios in which no hidden cost is
included.
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RECOMMENDATION
1. Paramount farms Pvt. Ltd. Should give more concentration on sales man & sales executive.
2. It is necessary that company must recruit skilled and honest salesman so that they could
provide schemes to the entire retailers & cover their full route
3. It is often seen that some salesman’s don’t intimate schemes to the retailer & few of the
retailer complaint about it. So there should be frequent visits of Customer Executives to their
respective areas to keep the shop-keepers benefited with various schemes.
4. Most of the retailers are complaining about non-fulfillment of commitment regarding their
sampling. Company should make sure that the retailers get the sampling on time so that they
are satisfied.
5. Paramount farms pvt.Ltd. Should give more attention towards creating awareness about
wonderful pistachios.
6. Currently those customers who are not interested in acquiring wonderful pistachios,
paramount farms Pvt.Ltd. should keep in touch with them.
7. Paramount farms Pvt. Ltd. Should try to minimize the price of Wonderful pistachios.
8. Once a week, a meeting should be held between marketing & operation department
to measure department performance as well as market condition.
9. Paramount farms Pvt. Ltd. Should provide more incentive schemes to sales manager &
sales exertive to sales increase.
10. Paramount farms Pvt. Ltd. Should increase their promotional activities through media.
11. Paramount farms pvt.Ltd should be distributed sampling in retail outlat & sops & Hotels
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55
LIMITATION
The study has not been intended on a very large scale, have the possibility of errors, which
can not be ruled out.
Time limitations.
Area was specified.
It is extremely difficult to persuade retailer to respond to questionnaire.
The retailer knows us as people from pepsi there by the responses could have been biased.
The time allowed for the project was short. It was impossible to study deeply in that short
period.
Paramount farms Pvt. Ltd. are having a very limited Source for direct communication with
customers.
Paramount farms Pvt. Ltd. Is having a very less man- power.
People are not much aware about wonderful pistachios uses & benefits.
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57
CONCLUSION
After the survey of approx 400 respondents, I analyzed that being a pistachios a very
new products in pune (MH), there is a need of investment in formulating strong
distribution network, which tends to success of the products.
Pistachios a totally premium quality brand and its needed awareness in the
consumer’s eye, so Paramount farms must adopt a advertising policy.
At this time it is completely depend on the retailer that which brands has offers to the
customers? Although the company is able to satisfy the retailers. The company must
take the immediate step in order to attract more retailers to sell the products. Initially
company should offer attractive profit margin to the retailers.
It was also seen that local brand is better sold than Pistachios, there is huge
opportunity in the market to success of this product.
Majority of the retailers need signage e.g. glow signboard, which they were
demanding during the sampling.
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59
BIBLIOGRAPHY
BOOKS:
1. Marketing Research C.R.Kothari
2. Marketing management Philip Kotler
3. Marketing Research S M. V. Kulkarni
WEBSITES:
1. www.paramountfarms.com
3. www.google.com
MAGAZINES:
1. Business Today
2. Business World
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QUESTIONAIRES
1. Are you aware about paramount farms pvt.ltd?
Yes { } Partially { } N o { }
2. Are you aware about wonderful pistachios?
Yes { } Partially { } N o { }
3. Have you acquired it?
Yes { } N o { }
4. If Yes, of which company brand pasta product you acquired
5. How much satisfied you are?
Very Satisfied { } Satisfied { } Dissatisfied { }
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6. How will you rate the service level?
Good { } Average { } Bad { }
7. Do you want more wonderful pistachios?
_______________________________
8. Are you interested to acquire wonderful pistachios?
Yes [ ] N OT Yet [ ] N o [ ]
9. Do you get posters of new offers and scheme at right time?
Yes [ ] NO [ ]
10. Are you happy with wonderful pistachios display?
(a) Yes [ ] (b) No [ ]
11. Are you happy with paramount farms service?
(a) Yes [ ] (b) No [ ]
12. Which brand of do you sell more?why
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(a) paramount farms { } (b) other brand{ }
12. Give me suggestions for betterment of paramount farms?
………………………………………………………………………….
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