Itc Snacks and Biscuits

Topics: Marketing, Pricing, Snack food Pages: 29 (8489 words) Published: December 22, 2012
ITC Snacks and Biscuits|
GROUP 4: abhinash sanjiv verma lalit kumar

1.Mission Vision and Values3
13.Positioning Statement15
14.Overall Marketing Strategy16
15.Product Strategy17
16.Pricing Strategy19
17.Distribution Strategy20
17.1.ITC Distribution Network20
18.Promotional Strategy22
19.Sales Force Strategy23

1. Mission Vision and Values

ITC endures to achieve higher levels of Triple Bottom Line performance which includes economic, environment and social terms. This is reflected in their mission, vision and core values also. * Mission

“To enhance the wealth generating capability of the enterprise in a globalizing environment, delivering superior and sustainable stakeholder value”. ITC mission statement is focused on value maximization of the enterprise and wealth generating capability, providing superior value to the stakeholders that are global consumers, employees, suppliers, etc. * Vision

“Sustain ITC’s position as one of India’s most valuable corporations through world class performance, creating growing value for the Indian economy and company’s stakeholder.” Vision statement has to be compelling i.e. in ITC is to sustain position as one of India’s most valuable corporations and growing values for Indian economy and stakeholders. * Core Values

ITC's Core Values are aimed at developing a customer-focused, high-performance organisation which creates value for all its stakeholders: Trusteeship, Customer, and Respect for People, Excellence, Innovation, and Nation Orientation. ITC has inculcated triple bottom line approach. Innovation, quality and taste are the major pillars of ITC’s strategies which define the values in mission, vision and core values i.e. to maximize value. Social and economic included in their bottom line shows nation orientation. A basic need met by sunfeast, bingo and yippee is quick light snack with some different features. Ready to eat food like yippee and pasta provide 2 minute noodles. Bingo with different new innovative flavors provides crunchy potato light snacks. 2. PESTLE ANALYSIS:

* Political:
Production and Distribution licenses have been liberalized. Excise duty on biscuits removed for biscuits priced below Rs.100 per kg. Custom duty on food processing machinery reduced from 7.5% to 5%. Indian Agriculture Research Institute (IARI) helps to provide transfer of new varieties of wheat seeds to farmers under Public Private Partnership (PPP). Exemption limit of excise duty for SSI raised to 1.5 cr. CST is levied at 3%. * Economic:

According to the World Bank, as of 2011, the Indian economy is nominally worth US$1.848 trillion with its average annual GDP growth rate of 5.8% over the past two decades, and reaching 6.1% during 2011–12. GDP (PPP) per capita as $3,693. India is a young country with median age as 24.9 as of 2001 census so the biscuit market has a great potential. Products like dream cream, dark fantasy, etc can find an increasing potential market. The per capita consumption of biscuits in our country is 2.1 Kg. Experienced 11% annual growth of biscuit industry in 2011-12. Snack industry growth rate is 16% from 2003 to 2008.  India is mainly an agriculture based country; hence there is cheap availability of wheat, potato etc. In the area of potato sourcing, the business continued to support the Foods business by procuring the highest quality chip stock potatoes for the Company’s Bingo. India is the world’s largest producer, consumer and exporter of spices. Export of spices from India has...
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