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Evaluating all the parameters of launching a new Skin Care Product

Submitted By:Satyabrata Kundu 09BS0002100 ICFAI Business School

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SUMMER INTERNSHIP PROGRAM-2010 FINAL REPORTPROJECT Evaluating all the parameters of launching a new Skin Care Product

Faculty GuideProf. H.V.Kothari ICFAI Business School Noida.

Company GuideMr. Pradeep Kumar/Mr. Pankaj Bansal Brand Manager/Brand Executive Emami Limited.

ICFAI BUSINESS SCHOOLSubmitted bySatyabrata Kundu(09BS0002100)

EMAMI LIMITED687, Anandpur, EM Bypass, Kolkata 700 107.

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AUTHORIZATION AND UNDERTAKING

EMAMI/HRD/KB689

February 14, 2010

To Whom So Ever It May Concern

This is to certify that Mr. Satyabrata Kundu, Enrolment No.-09BS0002100, IBS Kolkata has been selected by Emami Ltd. for doing 14 weeks summer training in our organization commencing from 15th February 2010 to 21st May 2010 in Marketing Department. Mr. Satyabrata Kundu will be required to be based at New Delhi for this project.

Statement of AuthenticationI, Satyabrata Kundu certify that this report is my own work, based on my personal study and/or research and that I have acknowledged all material and sources used in its preparation, whether they be books, articles, reports, lecture notes and any other kind of document, electronic or personal communication. I also certify that this report has not previously been submitted for assessment in any other unit, except where specific permission has been granted from all unit coordinators involved, or at any other time in this unit, and that I have not copied in part or whole or otherwise plagiarised the work of other students and/or persons.

Satyabrata Kundu 21/05/2010

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ACKNOWLEDGEMENT

This project is prepared in fulfilment of the Summer Internship Program (SIP) under the Masters in Business Administration (MBA) course of ICFAI Business School, Kolkata. While preparing this report I was aided by a number of people. At this time of completion, I would like to express my sincere appreciation towards them. I am very grateful to my faculty guide, Prof. H.V.Kothari for his valuable and timely guidance throughout the project. His feedbacks have been very useful in preparing this report. I express my gratitude to Mr. Pradeep Kumar, Brand Manager, Emami Ltd for guiding me and supporting me through this project. I also express my heart felt gratitude to Mr. Pankaj Bansal, Brand Executive, Emami Ltd for guiding me and supporting me through this project. I also take this opportunity as privilege to articulate my deep sense of gratefulness to Mr. Dharmendra Kumar (Area Sales Manager, Delhi) and Mr. Pradeep Kesar (Area Sales Manager) and the staff of Emami Delhi for their timely help and positive encouragement. It was a pleasure to work with these people and some other project trainees as a team and a family. They have been a source for inspiration to me and I am indebted to them for initiating me in the field of research. The project could not be complete without their able support and guidance. Thanking them is a small gesture for the generosity shown.

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CONTENTS1. AUTHORIZATION AND UNDERTAKING... 2. ACKNOWLEDGEMENT. 3. EXECUTIVE SUMMARY . 4. COMPANY OVERVIEW... 5. FMCG SECTOR IN INDIA.... 6. BRAND BOROPLUS ... 7. RESEARCH DESIGN AND METHODOLOGY 8. ABOUT THE PROJECT03 04 06 08 12 13 17 21

9. CONSUMER ADOPTION PROCESS 23 10. ABOUT THE PRODUCT....... 24 11. OFFTAKE SALE REPORT ANALYSIS.. 12. CUSTOMER FEEDBACK ANALYSIS. 13. CUSTOMER RESPONSE ANALYSIS26 31 33

14. COMPARISON OF SALE (IN SHOP PROMOTION).... 36 15. BUSINESS RESEARCH METHOD.. 16. RECOMMENDATIONS. 17. APPENDIX. 18. REFERENCES...................37 47 48 61

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EXECUTIVE SUMMARYThis project is prepared in fulfilment of the Summer Internship Program (SIP) under the Masters in Business Administration (MBA) course of ICFAI Business School, Kolkata. Emami Ltd, the flagship company of the Rs2000 crore Emami Group, is a leading player in the personal and healthcare consumer products industry in India. A jewel in the crown of the conglomerate, the company is a coveted Rs700 crore business entity engaged in manufacture and marketing of health, beauty and personal care products that are based entirely on ayurvedic formulation. Emami identified two main sectors in the market and aimed to target it by extending the Brand Boro Plus. Skin Treatment Skin Care The brand identity of BORO PLUS was also taken into consideration and a detailed study was conducted to understand the positioning of the brand. The following project is aimed at evaluating all the parameters associated with launching a new skincare product during the test launch. The product, Boro Plus Intensive Skin Therapy Cream (BPISTC) was launched in select 500 outlets of Delhi and evaluation of its performance was done by analysis of data on parameters such as Window Display, Merchandising, In Shop promotion, Consumer Surveys, Tracking off-take sales from stores (during & after In Shop promotion) etc. During the test launch all earmarked areas were carefully monitored in terms of above mentioned parameters to ensure that the new product launch was a success. All major and minor deficiencies found were noted and streamlined and shall not be replicated during the nationwide launch.

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Prospective customers were contacted during In Shop promotion and actual buyers after 6-10 weeks of use of the cream in order to generate Customer Response Analysis and Customer Feedback Analysis respectively to gain valuable insights into consumer buying and re-buying behaviour. After a detailed analysis of these surveys, close indirect competitor brands of BPISTC were identified and mapped. A business research method named Discriminant Analysis was used to generate a predictive function called Discriminant function to classify potential customers as Purchasers or NonPurchasers. The findings which came into light were that 91.7% customers purchased the cream by believing on the proclaimed benefits (performance) as the behavioural pattern and the discriminating factor (performance) were strongly co-related. Any future customer would also buy the cream based on the performance of the cream as this variable came out to be the best predictor. Also the analysis was perfect as 100% cases were correctly classified and no errors were recorded. Few recommendations that can help in the successful nation-wide launch of BPISTC sum up this project report. It includes, introducing advertisement campaigns to increase awareness of this innovative product.

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INTRODUCTION

COMPANY OVERVIEWEmami Ltd, the flagship company of the Rs 2000 crore Emami Group, is a leading player in the personal and healthcare consumer products industry in India. A jewel in the crown of the conglomerate, the company is a coveted Rs 700 crore business entity engaged in manufacture and marketing of health, beauty and personal care products that are based entirely on ayurvedic formulation. Established by Mr. R S Agarwal and Mr. R S Goenka in 1974, Emami Limited has over 25 brands under its portfolio. The companys financials show it has repeatedly outperformed the industry standards. Emami Ltd has maintained a CAGR of 25% over the last three years compared to the industry average of 16-17% Understanding the human needs and fulfilling them by dint of technical research is a positive feature of Emami. This is being made possible by Himani Ayurveda Science Foundation (HASF) that generates the very best of ayurvedic formulations. The foundations unique range of healthcare products aptly caters to consumer needs. The world class quality control methods and processes maintained by HASF ensure optimum utility of each ingredient. The foundation is completely engaged in constant innovation and pharmaceutical enhancements.

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Boro plus brand is the market leader in the antiseptic cream segment; the Navratna Oil is also in the pole position in the cool oil segment. Fair and Handsome is the pioneer in the fairness cream for men segment. Emamis products in different categories like cool oil, antiseptic cream, fairness cream for men, and the crme herbal hair pack have carved a niche for themselves in their respective segments. Boroplus has been selected as among the top 100 brands by the Brand Equity of The Economic Times. In 2006 and 2007, Navratna has been ranked the 6th Most Energized Indian Brand by the DY&R Brand Asset Valuator. Sona Chandi Chyawanprash, Himani Fast Relief, (ayurvedic pain relief ointment) Mentho plus (pain balm), Hairlife (crme herbal hair pack) and Emami Malai Kesar (cold cream) are also major players in their respective categories. Brand extensions have helped Emami consolidate its position in the market and also cater to varied consumer needs. Emami has recently entered the glycerine soap category with Emami Pure Skin and petroleum jelly category with Emami Vasocare. Emami has successfully established its brands through strong celebrity endorsements. It is the only corporate entity in the country to have both Amitabh Bachchan and Shah Rukh Khan as brand endorsers for the same brand, Navratna. The concept of brand endorsement by celebrities has been successfully experimented in case of 25 brand launches. Besides Amitabh and Shah Rukh, other celebrity endorsers of Emamis brand include Madhuri Dixit, Kareena Kapoor, Govinda, Sourav Ganguly, Chiranjeevi, Surya and Upendra among others.

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Emami covers all the states with 28 depots across India. Its supply-chain management assumes immense significance which was aptly reflected through remarkable expansion in dealer-distribution network, outlets and manpower. The domestic sales and distribution division directly covers 4,00,000 outlets all across the country along with an additional 2100 modern retail outlet

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