consumer’s perception towards lmn productskprojectwork.com/weoffer1/pdf/consumer percepti… ·...

www.skprojectwork.com

CONSUMER’S PERCEPTION

TOWARDS LMN PRODUCT

aa


2

CONTENTS

CHAPTER -1

INTRODUCTION

COMPANY PROFILE

CHAPTER -2

RESEARCH METHODOLOGY

OBJECTIVE OF THE STUDY

SIGNIFICANCE OF THE STUDY

NEED AND SCOPE OF THE STUDY

METHODOLOGY ADOPTED

DATA COLLECTION

SAMPLE SIZE

RESEARCH DESIGN

METHOD USED

LIMITATION OF THE STUDY

CHAPTER -3

ANALYSIS AND INTERPRETATION

CHAPTER -4

FINDINGS

SUGGESTIONS

CONCLUSION

ANNEXURE

BIBILOGRAPHY


3

EXECUTIVE SUMMARY

The study shows the consumer’s perception being applied over a company’s

performance in a test market. It provides the study on awareness of LMN in

Cuttack and Bhubaneswar markets.

With the help of this study the company can formulate its strategy in order to

make its position stronger and make its customers more satisfied.

In this study both primary data and secondary data were used. Primary data

were collected from the respondents through the process of questionnaire and

survey method. The respondents were asked a list of structured questions. And the

data were presented in a tabular form by graphical representation through pie

charts and bar graphs in order to visualize the project effectively.

Secondary data were collected from the company, from the internet. These

were helpful for interpretation of the primary data into a sequential order and put

them in a systematic way to get the desired output.

The study is made, based on the research methodology currently practiced in the

Market. It is based on descriptive research design.

This project is of great importance from the organization point of view as

well as from my point of view .The report gives the performance of LMN which is

a lemon juice drink a product of Parle Agro. The project is conducted at Cuttack

and Bhubaneswar market in various Indian oil petrol pumps, retail outlets and

corporate houses, apartments.


4

This study dose not cover the whole territory in the city, as it is confined to

only limited customers. So the study shows the outcome of the limited views that

were covered by me. The study is also authentic to the extent of respondent ethics.


5

INTRODUCTION

Indian beverage major, Parle Agro has rolled out a new fruit based lemon drink,

LMN in the non-carbonated segment. The new brand –LMN is a natural Lemon

juice drink and the only brand in India with a taste closest to home made fresh

lime water, also known as nimbu pani with no artificial flavors and real Lemon

juice. LMN will provide consumers a healthy, refreshing drink with the goodness

of vitamin C.

For the beverage industry, India is the country that offers the greatest potential. As

the beverage industry look to the future, India is the country that offers the

greatest potentials even more so than China. Right now, India accounts for

approximately 10% of global beverage consumption. That make beverage

consumption is India the 3rd largest in the world, after the United States and

China. When it comes to carbonated soft drinks, the market has not even been

properly tapped. The situation is similar in the case of bottled & packaged juices

& water &PET packaging. Given its size, the Indian market is still in infancy.


6

COMPANY PROFILE

Parle Agro is a trusted name in the Indian beverage industry for agro based food

drink and has been refreshing India with the past experience of having

successfully launched leading soft drink brands like FROOTI, APPY, APPY FIZZ

and packaged drinking water BAILLY. . Today it is a profit making organization

with professionals employed across India .The company began over 2 decades

ago with the sole purpose of providing the world with a juicy & zestful thirst

quencher.Then greatest strength of this company people who have worked

towards making the presence felt through-out the country’s all over the world

through a strong franchisee network & well developed strong infrastructure. It

has its factories located in Silvassa, Patalganga ,Bhopal, Chennai &

Ghaziabad.At Parle Agro, success is a habit ; where greater heights are achieved

through consumer insight , sound business practices , marketings sales

innovation , with the focus on the consumer . ‘Thinking consumers , Tasting

success, Always ‘- That is what Parle Agro all.

AS AN INDUSTRY PIONEER

First to introduce fruit drinks in a tetra pack in India.

First to introduce fruit drinks in PET.

In 2007, Parle Agro forayed into the confectionary business.

Latest product from Parle Agro Saint was launched in 2008.

First to launch special four – sided 200 ml bottles i.e ‘Bailley’.


7

The first water brand to be issued the ISI certification.

For the last twenty years, Parle Agro has been the market leader in fruit based

Beverages . Parle Agro constantly worked keeping in mind Indian preferences while

Formulating products that cater to the Indian palate.

THE BEVERAGE PRODUCTS OF PARLE AGRO

Frooti (mango drink)

Appy & Appy fizz( apple flavored drink)

LMN (lemon drink)

Bailley (packaged drinking water)

Saint juice (fruit juice)

Grappo Fizz(grape flavored drink)

This popular fresh ‘n’ juicy mango drink has been around since 1985.It has also


8

been rated as India’s most trusted fruit beverage brand .It has this unique ability to change ability to change with the times, & to adapt to change with the times, & to adapt to the diverse preferences of consumer across age.

Introduced in 1986, this premium apple drink has been everybody’s favourite, well, apple drinks.

The provider of rejuvenation, energy, youth, spirit & life. The first water brand to be issued the ISI certification. The first to launch special four-sided 200ml bottles catering to premium airlines. airways.


9

Launched in 2005, it is a sparkling apple drink that comes in a sleek champagne-shaped bottle.Appy Fizz has become quite a popular figure amongst the youth who frequent places like college canteens, discotheques, pubs.

Grappo Fizz launched in 8 th may 2009 which fill the gap in the market for sparkling grape drink.

It was launchen on 17 th October 2008 which is available in three variants namely orange, mixed fruits and grape without addition of any of the preservatives


10

PARLE AGRO EXPORT’S

Parle Agro established its exports department in December 2003.Parle Agro is serving in the market of

Malaysia

Australia

United Kingdom

Nigeria

UAE & Saudi Arabia

PARLE AGRO EXPORTS THE FOLLOWING BRAND’S

Frooti Green Mango

Appy

N-Joi (strawberry & mango)

Bailley water

PARLE AGRO PRODUCTS MANUFACTURING LOCATIONS IN INDIA ARE

Silvassa

Navi Mumbai

Bhopal

Chennai

UP (Ghaziabad)


11

LMN- the emergency lemon

refresher.

LMN was launched on 2nd april 2009 which is a lemon flavoured drink.

Nimbu pani has traditionally been India’s most commonly consumed beverage.

Idea to make a branded lemon drink is the origin of the development of product. The challenge was packaging a natural product while retaining its fresh original taste through out its shelf life. Parle Agro really understands what real nimbu pani taste like and what the Indian consumer wants in a packaged offering.

Packaged nimbu pani will have tremendous growth potential, higher than other

packaged drinks in the on – the – go consumption segment, mainly because of a major shift in consumer behavior.


12

TODAY THE BEVERAGE CONSUMER IS LOOKING FOR

Hygiene

Convenience

Refreshing Taste

Affordability

Availability

Healthy

Thirst quencher

Satisfying nimbu pani available as a branded offering. Parle agro is confident about LMN doing well in the market. Observing this concept LMN takes a refreshingly fresh takes in lemon. With a catchy tag line –“The emergency lemon refresher.”

WHY LMN?

A ready to drink product like LMN will shake up the RS.1500 crores non- carbonated beverage market, comprising of juices, nectars and fruit drinks. Now consumers will have a choice to choose between a healthy, refreshing lemon drink versus a cola or even water to quench their thirst. The amount of vitamin C is present in LMN is equal to two whole lemons. Lemons as such are rich in vitamin C (an anti oxidant) and potassium, which have the ability to replenish lost essential body fluids. A lemon drink


13

hydrates and is light for the stomach. It is a refresher of any situation. Indian soft drink/beverage marketers suddenly found that Indians love lemon flavoured drinks. Coming to the taste factor, Parle Agro touch its every aspect to make it a branded refreshing drink. However on a hot summer afternoon, this should quench thirst of people from sipping on a cool drink LMN. Being a non- fizzing drink it scores from health aspect.

TARGET GROUP & PACKAGING

LMN aims to strike a chord with youth and adults alike. In today’s time of fast food and speed dating, the name LMN is derived from the sms version of the word lemon. Currently nimbu pani is consumed in vendor stalls by the road side or at home.

While the road side nimbu pani has hygiene issues, achieving a consistent taste in home made nimbu pani is a task .LMN target both the segment of consumer to turn them into branded consumers of nimbu pani. Besides this LMN will also target an emerging segment of consumers who are simply looking for healthy, refreshing beverages.

LMN target a large consumer base and demographics.

110 ml innovative TCA pack will work as a short of refreshment for those looking at economy or consuming a small quantity.

200 ml pack will mainly aim at the youth and the on the go consumption market .

PET bottle will enable staggered consumption and possibly one that friends and family can share.

The branding on the pack of LMN is bold and stark and will make consumers relate to lemons instantly .The striking green and yellow color makes the pack


14

noticeable and increases its self appeal .In the PET offering the unique bottle design of LMN makes it stand apart from the rest.

LMN’S launch supported by a 360 degree marketing campaign. One of

them is TEST MARKETING is under study .

LMN takes a refreshingly fresh take on lemon with acatchy tagline – “The

emergency lemon refresher”. It is priced at affordable price points and could deliver huge volumes for Parle Agro which aims to touch a turn over of Rs. 3000 – Rs. 3500 crore by 2011 purely through organic growth. It is available both in PET and Tetra pak in the following SKU’s and prices.

PRICE STRUCTURE OF LMN

Quantity Price

LMN PET (shelf life : 4 months) - 500 ml Rs.23

LMN Tetra pak (shelf life:6 months) - 200 ml Rs.10

LMN TCA (shelf life : 6 months) - 110 ml Rs.5


15


16

OBJECTIVES OF THE STUDY

The summer project study helps the student to check whether the theory and practice actually matches. Organizational exposure helps the student to know how effectively they performed in the market. The survey was conducted in Cuttack & Bhubaneswar city by offering LMN juice to consumers keeping the following in view. The primary objectives of the study was,

PRIMARY OBJECTIVE

To Analyzing the satisfaction level of customers towards LMN juice, a product of Parle Agro Pvt Ltd.

SECONDARY OBJECTIVE

a) To study how the customer choose their beverages. b) To find the awareness among the customers about Parle Agro and its

new products. c) To find out the interest towards Parle Agro products. d) To analyze the position of Parle Agro against its competitors. e) To analyze the loyalty status of the consumers. f) To identify the customer preferences. g) To find out the strength and weakness of product and its competitors. h) To make suggestion, if any to improve existing condition. i) To know if there are relationships between customer satisfaction and

customer loyalty.

To know this objective, free LMN costing Rs 10 lakh were offered to various customers of Indian Oil, corporate houses, institutions……….. situated in Cuttack and Bhubaneswar.


17

SIGNIFICANCE OF THE STUDY

The relevance of the study lies in identifying the perception of the consumers regarding LMN in Cuttack & Bhubaneswar.

It specially aims at finding out the views of consumers regarding the taste of LMN juice.

NEED AND SCOPE OF THE STUDY

Today, for any organization or firm to survive in this competitive world depends on its ability to be dynamic and be different from the competition to be unique in the industry. Customer Satisfaction helps every organization to keep the existing customer and to build new customer. This research is aimed at profiling the standard customer with an aim to create awareness among the customer and improve company-customer relations. The information gathered through this research can be used by the company to improve its products and became more customer friendly. This can increase the brand image and goodwill of the company and its overall performance. Thus ,this study is aimed to provide the management with some knowledge about its status in market both in terms of sales and customer awareness. The research also aims to provide some ideas to improve the Company’s present condition.


18

ReseaRch METHODOLOGY

DATA COLLECTION:

METHOD OF DATA COLLECTION

My Survey is conducted on two sources of data collection:-

a) Primary data b) Secondary data

a) Primary data

Looking into the objectives and information’s needed, I have chosen following

two methods as per the response of the subject:-

i) Questionnaire method. ii) Personal Interview.

i) Questionnaire method.

Questionnaire was prepared by the Surveyor. The objectives, essence and

mode of Survey were communicated to us.

ii) Personal Interview

I have taken the opportunity to take personal interview wherever it was

essential. The strategy was adopted for better clarity and avoids confusion.

This has supplemented the Questionnaire in a purposive manner.

b) Secondary data

The Secondary data were mainly collected from Magazines, Newspaper and

from Internet.


19

SAMPLE SIZE:

Sample size was multiple of 100.

INSTRUMENTS USED FOR DATA COLLECTION:

The data was collected through questionnaire and survey method .Questionnaires was administered keeping in mind the specific objectives of the study. Both multiple choices and closed ended questions were used.

LIMITATIONS

As a researcher, I faced number of limitations when the study was conducted.

a) The behavior of the customer while approaching them to fill the questionnaire was unpredictable.

b) The shortage of time was another constrain for the study , for which the number interacted with , became limited.

c) There may be error due to bias of respondents & also due to no conformity in age.

d) As the consumers are only interacted on Indian Oil Petrol outlets, Corporate

houses, Institutions, so that a large chunk of population are not covered

under the study . so a complete picture cannot be done.


20

AWARENESS OF BRAND


21

Table showing customer awareness towards the brand

Table-1

Sl.No. Particulars No. of respondents Percentages

1 Yes 391 78.2%

2 No 109 21.8%

Total 500 100%

InterpretatIon:

From the above analysis it is found that 78.2% of the respondents covered during survey were aware of Parle Agro Pvt.Ltd. and 21.8% of respondents were not aware of Parle Agro Pvt.Ltd.

As it has created brand image in the market since 2 decades by providing beverages to the consumer market, the peoples are well aware of the company.

AWARENESS ABOUT COMPANY’S beverages


22

Sl.No. Particulars No. of respondents Percentage

1 Frooti 475 95.00% 2 Appy 352 70.44% 3 Saint Juice 33 7%

4 Grappo Fizz 149 29.70% 5 Appy Fizz 228 45.62% 6 LMN 228 45.64%

interpretation:

From the above analysis it is found that Frooti, Appy, saint juice, Grappo Fizz, Appy Fizz, and LMN were known to 95%,70.44%,6.60%, 29.70%, 45.62%, and 45.64% respectively of the respondents we covered during survey. The new product LMN needs mass advertisement to reach in the consumer hand.Frooti is highly preferred by the consumers.LMN should be given more emphasis in its proper distribution in retail outlets.


23

ANALYSIS OF AWARENESS OF LMN

Table showing the customer “ever tried LMN”

Table-2


1 Yes 128 45.64%

2 No 372 54.36%

Total 500 100%

interpretation:

Above analysis shows that 45.64% of the respondents have tried LMN. And54.36% of the respondents have not tried LMN. It is found that nearly 45% of the respondents have tried LMN since its launch in the month of March 2009.A LMN is a new product the company should try to advertise the product to create a awareness of consumers.


24

Customer preferenCe

Sl.no Particulars Percentage

1 CARBONATED 19.54%

2 NON-CARBONATED

20.96%

3 JUICE 55%

4 HEALTH DRINKS 34.46%

interpretation:

55% of respondents prefer juice, 34.46% of respondents prefer health drinks, 20.96% of respondents prefer non carbonated drinks


25

and 19.54% of respondents prefer carbonated drinks.More no of peoples prefer juice , as LMN is a lemon juice it is more acceptable in the market.

ExpEriEncE of LMN

Table showing the “experience” of LMN

Table-3


1 Good 339 67.94%

2 Bad 161 32.06%

Total 500 100%

InterpretatIon:

According to survey 67.94% of respondents have a good response towards LMN. It determines LMN will score from health and hygiene issues. LMN was highly preferable by the consumers due to its natural taste.LMN is appreciable by the consumers as a new taste &a healthy product.

Future analysis

Table showing future preference for purchasing the product


26

Table-4


1 Yes 346 69.23%

2 No 154 30.77%

Total 500 100%

interpretation:

From the above graph it is clear the expected future buyer of LMN will be 69.23% among the respondents covered during survey based on their taste & preference for the product.


27


28

Findings

1. Quality of the service provided plays an important role in keeping

the existing customer and to bring new customer.

2. As it is natural product, it is preferred by the customer.

3. It is regarded as a health drink as it is highly appreciated by the

health conscious customers and sports persons.

4. As it is non carbonated juice, it is a preferred product and is a

refreshing drink.

5. Packaging is attractive.

6. Some customers remarked it to carry a medicated odour, and a

few even felt irritation in the throat.

7. As it tastes sour, children showed no favourism.

8. Preservative quantity is very high that make the taste acidic.


29

SuggeStionS

On completion of the project work “ Perception study of LMN” juice , a

product of ParleAgro Pvt Ltd, Bhubaneswar, I would like to propose the

following suggestions which the company can make use of:

1. It should be served chilled.

2. Taste can be improved by improving with natural extracts, if possible.

3. Alternate sugars can be used to improve sweetness to capture the

patients & health concious customers.

4. The proportion of preservative in the ingredient should be decreased.

5. Availability of LMN near bus stand ,railway station & school or institution will increase its sale .

6. Retailor’s margin should remain alert towards the changing trends of the market.

7. LMN needs mass advertisement in local newspaper for its promotion.


30

CONCLUSION

As I studied that Parle Agro has been refreshing India since two decades with

leading brands. Now the beverage consumer is looking for hygiene, convenience,

refreshing, taste, affordability, availability, healthy and thirst quencher.LMN is

going to satisfy all these consumer needs.

From the market survey it is found that as a branded offering LMN will doing well

in the market. The respondents of Cuttack and Bhubaneswar, I have covered

during survey showed a positive response towards LMN.

LMN will score from health and hygiene issues.

BIBLIOGRAPHY

Philip Kotler , Keller, Koshy, Jha , Marketing Management

Rajan Saxena, Marketing Management

Kothari C.R, Research Methodology- Methods and Techniques

Website: www.google.com


31

QUESTIONNARE:

1. Are you aware of Parle Agro Pvt.Ltd?

a. Yes b. No

2. Do you know about the products of Parle Agro pvt.ltd?

a. Frooti b. Appy c. Saint Juice

d. Grappo Fizz e. Appy Fizz f. LMN 3. Have you ever tried LMN? a. yes b. No 4. What drinks you prefer a. Carbonated b. Non carbonated c. Juice d. Health drinks 5. How was the experience of LMN? a. Good b. Bad 6. Would you like to buy LMN in future? a.Yes b.No


32

Your query, questions & suggestions are very important for us.

Please feel free to contact us.

Thanks & Regards

Anyone need Readymade B.Tech, Diploma Engg. , BBA, MBA, BCA, MCA, MFC, M.COM, any other Project Report, M.Phil. Dissertation (all subject), Thesis and Study Material Contact us at our Email ID :

[email protected]

[email protected]

consumer’s perception towards lmn productskprojectwork.com/weoffer1/pdf/consumer percepti… ·...

Documents