Published on Feb 03, 2016
The principal task of marketing management is to fulfil the aspirations of the consumer. It is thus imperative to understand what the consumers want; how they make the choice; or what are there source of information and influence processes etc. In this process an organization can identify new opportunities in the market; evaluate and monitor marketing actions; and in general, evolve better marketing program to serve the interest of customers. Thus market research acts a link between the consumer and the marketer.
The market today gradually becoming a buyers market and hence consumer satisfaction has become a main motto of any organization and M/S Shrirang Kisanlal Sarda and Group can never be an exception. Instead, this group is going all out to adopt several measures to achieve consumer satisfaction. M/s Shrirang Kisanlal Sarda planned to launch a new brand of hair care product in future in the market and hence they want to carry out a Market Research for studying the feasibility of the product.
The aim of this project is to find out the availability of different brands and the consumer attitude towards that available brand. Before launching any product it is necessary for the company to become aware of the expectation of its potential consumer, their buying behavior and the demand in the existing market for such product. This information will help the company to design its marketing strategies and advertising campaign The Research was important because there is a great deal of variety and strategic competition existing in the market for snacks products that is offered under different brand names .
This project was a challenging one, as it involved intense Market Research by studying the different nonconventional routes used by the companies & listing down different nonconventional routes that can be used for distributing Yogi Vitamala.
Objective of the Study
The objectives of the project were:
To find out the different nonconventional channel for the product Yogi Vitamala.
To identify the different promotional activities , merits & demerits of these channels.
To gain practical knowledge.
Exposure of the market via Market Research.
To study the usage and attitude of hair care product consumer.
To make valuable contributions by way of recommendations and suggestions for launching Yogi Vitamala through a nonconventional channel..
Majority of the people believe in ayurveda & as this product is ayurvedic made of amla & placed in healthy snacks category this product has good chance of generating revenue if promoted as a good for skin & hair.
Nonconventional channels are useful when the customers of all class have to be covered. Also the customer knowledge about the product can increase.
Price is the primary consideration while using such channels. Company has to keep price lower than the conventional outlets.
Company has to spend heavily if they have to succeed through these channels.
But the main disadvantages in using these channels are
1) Alternative distribution channels do not offer better margins and are, at best, tools to gain accessibility in certain areas.
2) Distribution costs across such channels are identical to those in conventional routes, so there is little saving.
M.V Kulkarni Physical Disribution and ChannelManagement Nirali Prakashan.