Haldiram’s Group – Analyzing Consumer Behaviour
Haldiram’s group is a true rags to riches story, which has expanded from being a small shop in Bikaner in 1937 to being one of the largest smart food chains in India and the world today. They are today a Rs. 10 billion company with multiple outlets across rural and urban India as well as a tremendous presence outside the country. Brand Haldiram’s is renowned for its superior product quality and supreme manufacturing processes which have been developed through tremendous research over the years. As the company continued to grow, they faced tough competition from local sweet and snack food vendors in the unorganized market. Their Unique Selling Proposition (USP) against the unorganised sector was the level of hygiene and product quality they maintained without any compromise in taste. This resulted in a shift of the utility curve towards the right, whereby consumers got a higher level of satisfaction, by consuming products from a bigger brand which believed in far better hygienic procedures (Ref graph). With this in mind, they evolved a competitive pricing strategy to survive and grow in the market dominated by smaller players. INDIFFERENCE CURVE ANALYSIS
Haldiram’s has a huge product portfolio and sought to customize its products to suit the tastes and preferences of consumers from different parts of India. It has launched products, which cater to the tastes of people belonging to specific regions of the country. However, they maintained concentration on their core products such as ‘namkeens’, which contributed to almost 60% of their revenue mix and was also the first company in India to brand 'namkeens’. At every stage of their business, Haldiram’s developed new innovative ways of pricing and marketing their products. They pioneered new ways of packaging which increased the shelf life of their products from less than a week to more than six months, thereby catering to the needs of hygiene conscious...
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