Consumers are responsible factor for the sales of any product or services.So, when a new product is launched in the market, understanding consumer’s buying behavior becomes very essential.
For this marketer has to study and understand the various factors which influences the customers thoughts while buying any product or services. In simple words, the various reasons which govern and finally force the customer to go for that particular product and services.So, Consumer Behavior can be defined as the study of when,why,where and how people buy or do not buy any products and services.
Thus,study of consumer behavior help the marketers to take vital decisions on marketing strategies for launching their new product. Every customer shows inclination towards particular products and services. Consumer interest is nothing but willingness of consumers to purchase products and services as per their taste, need and of course pocket.
The project has been carried out to have an overview of Mcvities and to understand the consumer’s perception about Digestive biscuit in the context of product’s use, brandname, health, availability, quality, size etc and find out their preferences on the selection of particular biscuit brand. Significance of the project is to find out the growth of digestive biscuit in modern trade and also to provide the key information about the consumer’s preference.
FMCG is an acronym for Fast Moving Consumer Goods, which refers to things that we buy from local supermarket on daily basis, the thing that have high turnover and are relatively low margin products. A major portion of the monthly budget of each household is reserved for FMCG product. The volume of money circulated in the economy against FMCG product is very high.
Competition in FMCG sector is very high resulting in high pressure on margins. FMCG companies maintain intense distribution network. Companies spend a large portion of their budget on maintaining distribution network. New entrants who wish to bring their product in the national level need to invest huge sums of money on promoting brands. Manufacturing can be outsourced.
Biscuit industry contribute Rs 12,000 crore to the FMCG industry and provide a vast opportunity for growth, as the per capita consumption of biscuits is less than 2.1 kg in our country, as compared to more than 10 kg in the US, UK and Europe and above 4.25 kg in South East Asian countries. Higher disposable incomes and the willingness of consumers to try new brands have attracted a number of players to the biscuits industry, both, at the national & local level and generated intense activity in the marketplace. The branded market grew around 15-16 per cent last year. Commodity inflation continues to have a significant impact on input cost and this inflationary pressure has put industry profits under pressure.
|BISCUIT INDUSTRY IN INDIA | | | |1. Annual Growth: | |The biscuit industry in India witnessed annual growth as below:- | | | | 2005-06 - 14% | | 2006-07 - 13% | | 2007-08 - 15%...