pms ghee
Contents
The Economic analysis of launching PMS Ghee in India
1. Introduction. The most favorite dairy products among Indians is Ghee (Clarified Butter) which is widely used as an ingredient for preparing most of the Indian foods. Milk is the raw material used to prepare Ghee. According to ghee helps to increase intelligence, self-awareness, good complexion and voice.
Before launching any product into the market an entrepreneur needs to have a proper research like economic analysis, financial aspects, number of competitors and marketing strategy of that product. Considering the facts about Indian dairy products boom over the years and high demand for ghee (Mahmul, 2012), I would like to introduce ‘PMS Ghee’ into Indian market. This paper deals with the economic analysis of Ghee and how useful it would be for entrepreneur to launch a new Ghee product in India.
2. Market Intelligence
India produces world’s 17% of dairy production. There is huge demand for dairy products within India. Ghee is the favorite dairy product of India. According to 27.5% of the milk produced is used for preparing ghee. According to in 2013 production of ghee was up by 3% and it is expected to grow at 4% for next annual year. There is no exact demand for Ghee for the present year but the demand for ghee in 1999 was 1,00,000 metric tons and in 2009 was 2,00,000 metric tons according to . Demand for ghee is more in urban areas than in rural areas and more people have started to settle in urban areas, so demand for ghee is going to go up rapidly. Other than this due to increase in income and standard of living in India especially in urban areas is pushing a lot of demand for Ghee. Due to recent increase in cooking oil prices Indians are buying ghee as an alternate which gives better taste for food.
All the above factors are very favorable for any firm to start a Ghee manufacturing company as demand for ghee would grow rapidly due to
The Economic analysis of launching PMS Ghee in India
1. Introduction. The most favorite dairy products among Indians is Ghee (Clarified Butter) which is widely used as an ingredient for preparing most of the Indian foods. Milk is the raw material used to prepare Ghee. According to ghee helps to increase intelligence, self-awareness, good complexion and voice.
Before launching any product into the market an entrepreneur needs to have a proper research like economic analysis, financial aspects, number of competitors and marketing strategy of that product. Considering the facts about Indian dairy products boom over the years and high demand for ghee (Mahmul, 2012), I would like to introduce ‘PMS Ghee’ into Indian market. This paper deals with the economic analysis of Ghee and how useful it would be for entrepreneur to launch a new Ghee product in India.
2. Market Intelligence
India produces world’s 17% of dairy production. There is huge demand for dairy products within India. Ghee is the favorite dairy product of India. According to 27.5% of the milk produced is used for preparing ghee. According to in 2013 production of ghee was up by 3% and it is expected to grow at 4% for next annual year. There is no exact demand for Ghee for the present year but the demand for ghee in 1999 was 1,00,000 metric tons and in 2009 was 2,00,000 metric tons according to . Demand for ghee is more in urban areas than in rural areas and more people have started to settle in urban areas, so demand for ghee is going to go up rapidly. Other than this due to increase in income and standard of living in India especially in urban areas is pushing a lot of demand for Ghee. Due to recent increase in cooking oil prices Indians are buying ghee as an alternate which gives better taste for food.
All the above factors are very favorable for any firm to start a Ghee manufacturing company as demand for ghee would grow rapidly due to
References: Mark Hirschey. (2009). Managerial Economic(12 ed.)s. Boulevard: Cengage Learning. California Strategic Economic Panel. (2009). using_multipliers_to_measure_economic_impacts.pdf. Retrieved from https://pages.wustl.edu/files/pages/imce/nathanjensen/using_multipliers_to_measure_economic_impacts.pdf: https://pages.wustl.edu/files/pages/imce/nathanjensen/using_multipliers_to_measure_economic_impacts.pdf Farnham, P.G. (2010). Economics for Managers (2 ed.). New Jersey: Pearson Education, Inc. Mahmul. (2012). Performance Of Diary Industry In India:Challenges And Opportunities. Golden Research Thoughts, 2(4), 8. Nidhi. (2009). The Economic Times. Retrieved april 5, 2009, from http://articles.economictimes.indiatimes.com/2009-04-05/news/28477369_1_desi-ghee-milk-powder-liquid-milk Radha Mani. (2013). GAIN Report:India and Diary Products Annual 2013. Retrieved October 11, 2013, from http://gain.fas.usda.gov/Recent%20GAIN%20Publications/Dairy%20and%20Products%20Annual_New%20Delhi_India_10-11-2013.pdf Sen. (2011). Market Structure: Monopoly, Oligopoly, Monopolistic and Perfect Competition. Retrieved July 10, 2011, from http://fintowin.com/2011/07/market-structure-monopoly-oligopoly-monopolistic-and-perfect-competition/