Chaudhary Group (CG) is the largest private corporate house in Nepal having diversified interests across various sectors. It was established in 1935, by Mr. Bhuramull Chaudhary as a shop in the New Road (Currently), CG at present is a conglomerate of over 40 businesses, with investment outlay of over $250million. CG started to produce Wai Wai in collaboration with Asian Thai Food in 1977 A.D. This company now produces varieties of noodles like: Wai Wai Chicken, Wai Wai Vegetarian, Wai Wai Tandoori, Wai Wai Tomyam, Wai Wai Tenz, Wai Wai Mutton, Wai Wai Spinach, Wai Wai Quick, Wai Wai Quick Schezwan, Wai Wai Quick Manchurian, Wai Wai Quick Chicken Pizza, Wai Wai Quick Kimchi, Wai Wai Cup Noodles (chicken and vegeterian), Golmol, Sathi, MIMI, Rin Tin, Mama etc. Though there were various competitors brands of noodles like: YumYum and RaRa, from the very beginning of its operation, it has been able to retain its top position in Nepalese market. After few decades Mayos was introduced in 1997; 2PM was produced and marketed by Himalayan Snacks and Noodles.
It seems like Wai Wai, Mayos, 2PM and Rum Pum is core competitors in the premium segment of brown noodles market of Nepal. Wai Wai is perhaps the most common brand of dry foods in Nepal. Wai Wai produced in Nepal used to be exported to India. The rising popularity of Wai Wai in India led CG Foods to open factories in India. Wai Wai has gained popularity in about thirty countries around Asia and Europe, with most foreign tourists taking a liking to it and importing it into their respective countries.
The audit Elements
1. Market/Industry Segment.
2. Brand Standing Metrics.
3. Brand Management Audit.
4. Brand Management Strategy Proposal.
1. Market/Industry Segment:
Basically, there are four segments of noodle industry in the market. They are: * Premium segment
* Buy 2 get 1 free segment
* Snack noodles segment
* White noodles segment
The noodles like Wai Wai, Mayos, Miho, YumYum, RumRum etc falls under the premium segment of noodle industry. Wai Wai is basically doing Mass Marketing as it has targeted to almost all the consumer as their target audience. The Market segment is not strictly defined well as it covers all area of segment on the basis of Geographic, Demographic, and Behavioural segmentation. It is segmented on the basis of geographic segmentation as it focuses basically in the urban areas like Kathmandu, Pokhara, Narayanghat, Birgunj, Biratnagar, Dharan etc. About the size of the brand it is pretty huge as it targets all the consumers of the country; be it children; be it youth; or be it senior citizens. The market share of Wai Wai is 70% plus as informed by an agent of CG. Giving a closer look to it, it is in post- maturity phase of Product lifecycle. Fig: 1
Product Life Cycle
2. Brand standing metrics:
In marketing, the perception is more important than reality. One should create a kind of a strong brand image amongst the target consumer because it would be dangerous if one cannot create; the consumers may make themselves a kind of image in their mind. The brand image of Wai Wai is very strong and it is also No. 1 brand of Nepal. In order to understand the consumer behavior towards the brand Wai Wai including the brand awareness, brand preference, profitability and price premium we surveyed around 70 respondents of Kathmandu valley. The findings received from the survey are shown below in a precise manner. Brand awareness:
Actual Users of the Wai Wai Brand
From the above diagram, it shows that the people of Kathmandu are pretty aware about the existence of the brand. As mentioned earlier, Wai Wai is the No.1 brand of Nepal it is marketed and made available all over Nepal as per its demand. The frequent users as well sometimes users are higher than no users’ category.
Usage of Different Brands of Noodles
From the above figure,...