Customer Behaviour – Preference and Patterns in the Snack Industry
Customer Behaviour – Preference and Patterns in the snack industry 1. Select a topic
Customer Behaviour – Preference and Patterns in the snack industry
We will approach this topic in the light of snack industry, especially in the context of Indian Wafer industry. We chose this topic as at the root of any marketing strategy it is the customer and his preferences. Without an understanding of the customers buying patterns it, a company would spend huge amounts of time and money behind the wrong strategy and thus lead to loss of profits, reputation and market share.
The Indian wafer industry is a high growth industry with the presence of only two or three major players in the organized sector, namely Frito Lays, ITC Bingo and Parle Smart Chips. We will examine customer preference in terms of traditional vs modern snacks, branded vs unbranded, international flavours vs. traditional flavours. Other factors affecting the branding and positioning strategy like price points and promotion media preferred, demographics, per capita consumption, government policies and strategies adopted by competitors, will also be examined.
2. Literature Review/ Background The snack food market in India is valued at INR 1530 crores and is one of the largest markets in the world, out of which potato chips holds the major market share of around 85%. The Indian snacks food market is of the order of 400,000 tones. Big players like McChain Smiles and NP Foods have also entered into Indian potato snack industry in 2005. The wide range of products are categorized under potato chips, savory snacks, snack nuts, popcorn, French fries. The organized market for chips is estimated to be 6500 tons valued at INR 2 billion. Consumer expenditure on food, beverages and tobacco in India is forecasted to grow at a CAGR of 12.2% during 2007 to 2011. The market for branded chips has been growing at a fast pace of around 20-25 % annually.
The organized category basically comprises of the
Customer Behaviour – Preference and Patterns in the snack industry
We will approach this topic in the light of snack industry, especially in the context of Indian Wafer industry. We chose this topic as at the root of any marketing strategy it is the customer and his preferences. Without an understanding of the customers buying patterns it, a company would spend huge amounts of time and money behind the wrong strategy and thus lead to loss of profits, reputation and market share.
The Indian wafer industry is a high growth industry with the presence of only two or three major players in the organized sector, namely Frito Lays, ITC Bingo and Parle Smart Chips. We will examine customer preference in terms of traditional vs modern snacks, branded vs unbranded, international flavours vs. traditional flavours. Other factors affecting the branding and positioning strategy like price points and promotion media preferred, demographics, per capita consumption, government policies and strategies adopted by competitors, will also be examined.
2. Literature Review/ Background The snack food market in India is valued at INR 1530 crores and is one of the largest markets in the world, out of which potato chips holds the major market share of around 85%. The Indian snacks food market is of the order of 400,000 tones. Big players like McChain Smiles and NP Foods have also entered into Indian potato snack industry in 2005. The wide range of products are categorized under potato chips, savory snacks, snack nuts, popcorn, French fries. The organized market for chips is estimated to be 6500 tons valued at INR 2 billion. Consumer expenditure on food, beverages and tobacco in India is forecasted to grow at a CAGR of 12.2% during 2007 to 2011. The market for branded chips has been growing at a fast pace of around 20-25 % annually.
The organized category basically comprises of the
References: http://www.drtkfood.com/download/Stackable%20Fabricated%20Potato%20Chips.pdf http://www.articlesnatch.com/Article/Food-In-India-And-The-Snack-Industry/1272453 http://onlinelibrary.wiley.com/doi/10.1111/j.1750-3841.2010.01672.x/full http://www.patentstorm.us/patents/6623040/description.html http://www.uncp.edu/home/collierw/ivdv.htm http://www.naturalhealthherbal.com/herbal-food/the-snack-food-industry-our-childrens-secret-adversary.html