A Summer Project Report at

BALAJI WAFERS PVT LTD.

On
CONSUMER SATIFACTION FOR BALAJI PRODUCTS

Submitted to Gujarat Technological University

Prepared by: DIMPLE KUMARI

Under the Guidance of: NISHANT DHRUV

MBA Department, Atmiya Institute of Technology and Science, Rajkot Batch 2009-2011 July 2010

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DECLARATION

I Dimple Kumari, hereby declare that the project work entitled Consumer Survey for Balaji Products submitted to GTU is a record of original work done and training undergone by me during the period from 1st June 2010 to 15th July 2010 and has not been submitted to any other university for the award of any degree.

Place : Rajkot Date : (Dimple Kumari)

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ACKNOWLEDGEMENT

I would like to take the opportunity to express a word of thanks to those who have contributed directly or indirectly to the completion of the project.

First of all, I express my gratitude to Mr. Jai Sachdev, Marketing manager of Balaji Wafers Pvt.Ltd for allowing me to complete my summer training and for their guideline during my training.

I would like to thank my project guide Mr.Nishant Dhruv and other respected faculty members who have always helped me with their skills and knowledge in the field.

Last but not the least I am grateful to my parents without whose support this project would have been impossible.

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PREFACE

In order to develop our management skills & as a part of academic studies in M.B.A., we have to go through the Industrial Training to develop our management skills & to increase our knowledge.

Industrial Training plays a very vital role to develop the practical view of students & also aware them about each & every problems & solutions which are taken by the company.

In relation of this industrial training, I have visited Balaji Wafers Pvt Ltd.. During the training period, I have concentrated fully on all the departments i.e. production department, personnel department, marketing department & financial department.

During the training period, market research is made for to know the most preferred products of Balaji and reason for that. Also to understand and analyze the customer expectation and real scenario in Balaji product market, the research is undertaken..

EXECUTIVE SUMMARY

With reference to topic of Consumer Survey For Balaji Products , the Methodology used for data collection is structured questionnaire. The population is Jamnagar. The Sampling method used is Stratified Random method due to consumption pattern of consumers. The analysis of data is done on the basis of answers given by consumers.From research findings,majority of consumers are satisfied by the quality and varieties provided by Balaji and are ready to accept the diversions from namkeen products to others( Sweets andBeverages) due to its Brand image in the Gujarat. The survey is done in the Rajkot. Most of the consumers are consuming Balaji wafers and Namkeens and according to them no other company is providing good Quality and Good Quantity at reasonable price at same time and Balaji is offering such to consumers. In the product portfolio of Balaji Wafers, Potato wafers playing major role and Masala potato wafers is second and third is Farali chevdo is favourite among the people of Rajkot. Consumers are aware about the brand Logo of Balaji wafers which helps them to identify the correct products of Balaji wafers.

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INDEX
CHAPTER - I

1.1. Industry Overview 1.1.1 Brief History 1 3

1.1.2. Position of organization in industry

1.2 Company Overview 1.2.1 1.2.2 1.2.3 1.2.4 1.2.5 1.2.6 Introduction of Balaji Wafers Introduction to Management Product Gallery Company History Vision and Strategy Future plans 4 6 8 9 11 12

1.3 Department Overview

13

1.4 Swot Analysis

24

1.5 Literature Review

26

1.6 Relevance of Present Study

30

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CHAPTER - II

2.1 Research Objective 2.2 Research Problem 2.3 Research Methodology

31 32 35

CHAPTER - III

3.1 Data Analysis and Interpreatations

37

CHAPTER - IV

4.1 Conclusion

47

4.1.1 4.1.2 4.1.3

Implications of present study Limitations of the Study Scope of the study

49 50 50

BIBLIOGRAPHY ANNEXURE

52 54

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CHAPTER I 1.1 INDUSTRY OVERVIEW

Fast Moving Consumer Goods ( FMCG) , also known as Consumer packaged goods (CPG)is products that are sold quickly at relatively low cost. Though the absolute profit made on FMCG products is relatively small, they generally sell in large quantities, so accumulative profit on such products can be large.

FMCG refers to consumer non-durable goods required for daily or frequent use. The sector touches every aspect of human life, from looks to hygiene to palate. Perhaps , defining an industry whose scope is so vast is not easy. The food processing industry, due to spending habits of people, lifestyles , fast environment and other factors , food industry have got more thrust and this has brought abut a change in the attitudes of food industry in all over the world.

The prospectus in the food industry are very high. The change in consumer behavior is big boost to the food industry. A country like India has strong potential for food industry. Every nook and corner of the country is different in terms of culture and consumption patterns which has to be explored and enjoyed. To cover all these aspects, a user-friendly platform is required so that people can get their dreams, which cannot possible without such kind of platforms.

The Food Processing Industry has been identified as a thrust area for development. This industry is included in the priority lending. India is worlds second largest producer of food and has the potential to become number one in due course of time with sustained efforts. The growth potential of this sector is enormous and it is expected that the food production will double in the nest 10 years and the consumption of value added food products would grow at a fast pace.

1.1.2 POSITION OF ORGANISATION IN INDUSTRY

It is an important aspect for any organization to watch themselves among the existing players in the industry. It would be difficult to maintain the position of the company in the industry due changing policy , market trends, and government rules and other economic factors, consumption patterns, competitors etc. Balaji is going with good brand loyalty in the foods namkeens products in Gujarat by providing good quality products at reasonable price. Because there are important factors for the consumers to take buying decisions. Balaji having medium product portfolio in which some products are playing major role to build image of Balaji wafers. All product of Balaji is easily available and affordable in the market. They made the products according to the taste of customer.

Looking into the future of FMCG sector , many competitors trying to increase their market criteria to compete with Balaji wafers. Competitors are spreading network with different sales offer . But Balaji wafers still providing qualitative foods to people of India. Today consumers not easily trust on new products. Balaji wafers keeping good relations with others players of the industry and keep watch on upcoming trends of the industry.

Overall , Balaji wafers growing with large number of market share against the competitors so they should be proactive against the upcoming competitors which are also growing with high speed and varieties of products in Gujarat.

1.2

COMPANY OVERVIEW

BRIEF INTRODUCTION OF BALAJI WAFERS

The member of Virani family started the journey of Balaji group in a very tiny size in the 1976. Born to a farming family in the Rajkot village in Gondal district. Chandubhai and his brother Meghji bhai job in Rajkots Astron cinema selling refreshments like wafers and namkeens of local brands.

Due to short supply they decided to make their own product line in the year 1982. Thus retail success inspired them to set the automatic plant but still they manually did frying, filling and packing the products of Balaji. Though the dramatic rise of Balaji began in the half decade , the Virani family ventures in the snack food business in the year 1960s they first sold sandwiches from the poscart on Lakhaji raj road. They later started selling from the moped and then took up a shop nearby. That shop is still there in that area as the mark of success of Balaji wafers.

A big came by when the local cinema halls wanted them to supply packed wafers. The family scaled up the business everything was done by the expert chefs there were no automotive plants and the brothers used a moped to market the

products. In 1984, Virani visited Europe in search of the automated machine , but he

couldnt buy as the were expensive. He went back in 1989 and this time the visit was successful. The family bought a 1000 sq. meter land near GIDC plant . A plant was installed in 1993 to expand the capacity.

Today Balaji claims to have 85% to 90% market in Gujarat. About the year Pepsi sent a team of senior executives to Gujarat to find out why a little known , chips and wafers makers from rajkot had been able to stand up against its own mighty snack food company Frito Lays in the regional market.

Apart

from Gujarat Balaji has strong presence in Rajasthan, M.P. and

Maharashtra. The annual turnover of Balaji is 150 crore rupees. Currently Balaji process 4500 kg potato and make 1200 kg of chips per hour , nearly about 1000 kg chevdo in one hour , 500 kg Chataka Pataka in one hour and it is possible through their fully automated plant in the year 2003.

BRIEF INTRODUCTION TO THE MANAGEMENT

This is a brief introduction of the managing persons of the Balaji Wafers Pvt. Ltd. these are the person who gave their greatest contribution towards companys success,

1. Mr. Bhikhubhai Virani 2. Mr. Chandubhai Virani 3. Mr. Kanubhai Virani 4. Mr. Hiteshbhai Virani 5. Mr. Nayanbhai Tank 6. Mr. Parmarbhai 7. Mr. Ketanbhai Patel

(Chairman) (Managing Director) (Technical Director) (General Manager) (Marketing Manager) (Production Manager) (Finance Manager)

COMPANY PROFILE

Name of the unit Plant address

::-

Balaji Wafers Pvt. Ltd. Vad-Vajdi, Kalawad Road, Rajkot 360 003. +91-281-2783755 + 91-281-2383747 contanct@balajiwafers.com 1982 Medium Scale Industry Private limited.

Telephone Fax No. E-Mail Address Established year

::::-

Size of the organization :Form of organization :-

Bankers Total products Weekly Off

:::-

SBI commercial Bank. 21 Wednesday

PRODUCTS GALLERY

SIMPLY SALTED WAFERS

GATHIYA

CHATAKA PATAKA

ALOO SEV

COMPANY HISTORY
The Success Story of Balaji Wafers Pvt. Ltd. The company has been engaged in production of delicious and nourishing food products, which have acclaimed, warm response of people of Gujarat. It produces Wafers and Namkeens in its unparalleled and latest fully automatic plant and having good quality for each product.

Brief History of the Company Most of the growing companies have a modest beginning. The infancy of the company began twenty years ago in 1982 with the efforts of Mr. Popatbhai sons Mr. Bhikhubhai, Mr. Chandubhai and Mr. Kanubhai the members of their family. The initial business was started in canteen of Astron Talkies. Then it acquired a small place with every limited investment with indigenous frying method. Thereafter, a semi-automatic plant was established with production capacity of 200 kg per hour. Finally, a fully automatic plant, the first of its kind in Gujarat, was established to offer excellent food products to food lovers of Gujarat.

Best Quality, Affordable Price It is the policy of the company to accept nothing less than a perfect. Besides, the company is determined to offer its products in attractive and weather resistant packing at affordable prices to all classes of people in Gujarat. It is an encouraging fact that the share of the company in the Brand Loyalty has remained around 70% to 80% in Gujarat. The stalwarts behind the success story of the company are Mr. Bhikhubhai (Chairman), Mr. Chandubhai Virani (Managing Director), and Mr. Kanubhai Virani (Technical Director), who have also devised an

ideal distribution channel to ensure the supply of fresh products in any corner of Gujarat within 48 hours. Effective distribution is an important as efficient production for the growth of the company.

Scaling high with Customer Satisfaction In the past two decades of life, the Virani Family has woven most of its personal activities,aspirations and dreams with the fabric of the company. These sacrifices have enabled the company to crave its name in the industrial history of Gujarat as a unit with most sophisticated and latest plant.

Companys Achievements The companys food products like potato wafers, banana wafers and other salty products are prepared in its fully automatic plant with bacteria-free and stringent hygienic standards. The use of computer system ensures uniform quality and obviates the necessity for touch of human hands. The production environments make it possible to make the products less oily and more nutritive.

Towards Better Future In order to meet the increasing demand of the products, the company has planned to install a sophisticated and ultra modern computerized plant with production capacity of 1000-1200 kg per hour on a end measuring 25000 to 30000 meters in the neighbourhood of Rajkot.

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VISION AND STRATEGY OF BALAJI WAFERS

Vision :At least one product for each occasion is clear cut vision of Balaji wafers. This vision meets the buying capacity of an average Indian and its also reflect the motto to provide best quality product line. At present company has the Lions share in Gujarat and high volume of sales in Maharashtra and Rajasthan region.

Strategy: Big taste at small price, this simple mantra rocked and changed the definition of chip world, winning the heart by quality and great taste and distributing sufficient dealers margin is the winning strategy of Balaji for money Group. Its value for money strategy enables even a kid to buy fresh and healthy food in small prices. Indeed in the neck to neck competition era one must implement new ideas and Balaji group has developed the think tank who continuously update strategy in the right direction. Think win win and stay ahead with us.

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FUTURE PLANS OF BALAJI WAFERS

The future plans of Balaji wafers are big and ambitious. As we know that now they are expanding their markets and their markets have reached out of Gujarat in Maharashtra. This is just not enough for them. They still want to cover the whole of national market with their variety of products.

They are having a plant which is under construction near valsad that approximately will cost the company 175 crore and thus they believe in the motto that future is nothing but to expand the present.

They have a variety of products already been flourished in the market but they still have a lot many products and different flavours of various products, which will enter the market in future. Their first target is to take over in India.

Thus, looking at their future plans ; we can say that Balaji Wafers is really ambitious and will not stop unless and until they achieve their goals.

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DEPARTMENTS OF THE ORGANIZATION

Department are the entities which are working inter-dependent and working together to achieve right objectives at right time. Balaji wafers pvt ltd having different department to carry the job in particular way.

Production Department Marketing Department Finance Department Human Resource Department

Each department is doing their job in particular way and doing work in efficient way with help of employees. Each department having their own head which are doing their jobs under General Manager.

PRODUCTION DEPARTMENT The manufacturing department of the Balaji enjoys special attention because it is processing a perishable commodity. More over the hygiene factors are given top priority. Balaji wafers are conscious about the quality of foods so they are taking well care about food products and raw materials to complete it.

It is the policy of the company to accept nothing less than perfect. Besides , the company is determined to offer its products in attractive and weather-resistent packing at affordable prices to the consumers.

The companys food products like potato wafers, banana wafers and other salty products are prepared in its fully automatic plant with bacteria free and stringent hygienic standards. The use of computer system ensures uniform quality and obviates

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necessity for touch human hands. The production environment makes it possible to make the product less oily and more nutritive.

The production capacity is very quantitative. In one hour they produce 500kg wafers at a time. In Balaji wafers pvt ltd the planning and controlling of production process the following elements or techniques are to be followed, we may also call them production planning and controlling functions. They are as follows.....

Raw Material Management The main raw material of this unit is potatoes, edible oil, banana, chili powder and peanuts with sugar, spices. They are purchasing potatoes from other states.

Laboratory Balaji wafers first require potatoes and potatoes are of good quality then they purchase edible oil in quantity and test in laboratory. Chilly powder and other spices are also tested in laboratory.

Wafer Making Section Wafers are of two types and they are Potato and Banana. they mix with edible oil and chilly powder and also some other spices in both wafers for good taste.

Packaging department After the making of wafers they are packed in the packets and after the completion of packing wafers they are keeping in a box each box contain 40 packets ,60 packets and 80 packets.

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Dispatch Department After the boxes are packed and marked according to requirement. They are dispatched according to requirement of the dealer.

Store Management In storeroom the invent rise like raw material, work in progress, finished goods, scraps etc. Costs heavily to the organization therefore the effective system should be employed which will take care.. The material should not be in excess quantity. To protect store against damage and theft.

FINANCE DEPARTMENT Finance department is to know how the money can be utilized in the best way whereas account department has to keep complete records of the transaction made by them and make necessary accounts at the end of the year. Finance managers have to take decisions regarding spending , utilizing money in respect of transactions such as raw materials , purchase of ready-made parts etc.

HUMAN RESOURCE DEPARTMENT In Balaji wafers there is no separate Personnel department : General Manager Mr.Hiteshbhai Virani takes all the decisions related to personnel. Experianced employee gives training to particular jobs to person.

Balaji wafers have very efficient and powerful distribution network in Gujarat states which supply the products within 48 hours from production to destination target and also distributionsystem is following the rule of the network provided by Balaji wafers 15

MARKETING FUNCTIONAL AREA

Concept :
Marketing is about people marketers and customers and about the ways marketers try to create a preface fit between themselves and the customers. Its process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. Marketing satisfies needs. Marketing is an exchange of value. Its an art to sell your products and services. Its process of planning and executing ideas. The production orientation The consumer orientation The sales orientation

Market Segmentation :
Market segmentation is the subdivision of market as based upon the modern marketing concept. It point out that there are several demand schedules. Each demand schedule represents a separate market consisting of a group of buyers with similar needs and characteristics of demand Balaji Wafers Pvt. Ltd., is having their Marketing Department to keep watch against the market situation and control the activity related to marketing.

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ORGANISATION STRUTURE FOR MARKETING DEPARTMENT

Marketing Quality Research Supervisor Employees

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MARKETING DEPARTMENT

Product Planning:Balaji Wafers Pvt. Ltd., does not have any specific product planning but depending on the market environment or the trends they produce new products in their product portfolio.

Pricing Planning:Balaji Wafers Pvt. Ltd., is more conscious about their price because people are more sensitive to price thats why they providing best quality at less price again the exact price policy helps customer for fast transaction.

Advertising:Balaji Wafers Pvt. Ltd., has given their advertisement in different ways. Since they had not advertisement in TV because of market criteria and availability of products. They give their advertisements through Calendars, Diaries, Paperweight, Wall Paintings, Magazines, Newspapers, and Stickers etc. to communicate with people. On the other side they are also Taking the advantage of Internet which have unlimited

target audience for their products.

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Marketing Research :Balaji Wafers Pvt. Ltd., do have marketing research program to be proactive against future scenario but they do this kind of activities when requirements is raised. It can be though professional researchers or from the students of different professional BSchools or College Students.

Sales Promotion:Balaji Wafers Pvt. Ltd., promote Sales through giving incentives to their agent and distributors and also by doing competition among them. They try to keep relationship to their network and people by providing stickers, calendars, gifts and wishing cards. They are mainly concentrating on their distribution channel.

Competitors:Frito Lays Haldiram Bingo

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Innovativeness:Recently, Balaji Wafers Pvt. Ltd., have changed the packaging style of their products, which is really appreciated by the people of Gujarat. With new concept of packaging and freshness packets. It gives more brand loyalty to Balaji Wafers Pvt. Ltd., because of also Brand name Packaging Style Guaranty and Warranty After Sale Service Price and Quality Varieties of Products

MARKETING MIX Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. McCarthy classified these tools into broad groups 1. 2. 3. 4. Product Price Place Promotion

PRODUCT ; A product is anything that can be offered to a market to satisfy a need or want. The concept of product is not limited to physical objects anything capable of satisfying a need is a product. In addition to tangible goods, products include services, which are activities or benefits offered for sale that are essentially intangible and so not result in ownership.

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A lot of things go into make a complete product. The elements of a product are its quality, features, the brand name, its packaging and sizes along with discounts, warranties and other benefits offered with it. Quality of a product is its ability to satisfy staged needs. A better quality product enhances the goodwill of the company and also boosts its sales. The more the different features a product offered the better it is considered to be a very essential part of a product is this brand.

A brand is a sign, symbol or design used to identify the product and differentiate it from other consumers. It is a brand same that helps a consumer identifies a product that might benefit it. Buyers who buy the same brand every time know that they will get the same quality and reliability in the product.

To make a product attractive and saleable the producer should package and size it in a manner useful and convenient to the user. The other benefits of a product would include the discounts offered as well the guarantee of replacement or service for a product.

Balaji Wafers Pvt. Ltd. having 14 products in their product portfolio with different verities and taste depending on the demand of customers in which quality is important factors for Balaji Wafers Pvt. Ltd.

PRICE: Price is the amount of money consumer is ready to pay for a particular product. Balaji Wafers Pvt. Ltd. consider the related aspects such as competitors price, cost including production expenses and profit margin and other related aspects, which decide the price of the product.

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The price of a product needs to be decided upon keeping in mind the kind of market the product has whether it is feasible to offer any kind of discounts that is reductions in price or if the producer or marketer is in a position to offer any kind of allowances to the retailers or wholesalers. Price is the most crucial factor in the entire marketing

PLACE: Place deals more with the physical settings of the product. It includes the channels of distribution and production. The kind of coverage the company has with the help of these channels. The different locations of the company and its outlets. It also includes inventory and transportation.Balaji Wafers Pvt. Ltd. provides their products to different place with the help of strong and powerful distribution network.

PROMOTION : Promotions an active, explicit form of marketing communication. Promotion highlights the marketing elements in order to increase the odds that consumers will buy and become committed to the product. Thus, promotion can be defined as the marketing function concerned with persuasively communicating to the target audiences the components of the marketing program in order to facilitate exchange between the marketer and the consumers.

Promotion is communication with individuals, groups or organizations to directly or indirectly facilitate exchanges by informing and persuading one or more audiences to accept the product or service.

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All promotional tools must blend harmoniously into an effective communication strategy, to meet the promotional objectives. The components of a promotion mix are advertising, personal selling, sales promotion and public relations. Four types of activities provide the key tools to achieve the goals of promotion,

Advertising : Is any paid form of non-personal communication and promotion of ideas, goods or services by an identified sponsor? Although some advertising is directed at specified individuals,, most advertising messages are tailored to a group.

Personal Selling : Is interpersonal communication with one or more prospective purchasers for the sake of making sales ? Examples include sales calls to a business by a field representative.

Public Relations : Is a co-ordinate attempt to create a favorable product image in the mind of the public by supporting certain activities or programs, publishing commercially significant news are a widely circulated medium or obtaining favorable publicity.

Sales Promotion : Consists of marketing activities that add to the basic value of the product or service for a limited time and directly stimulate consumer purchasing, stimulate the distributors to carry the product and promote the product or service or stimulate the effort of the sales force. Balaji Wafers Pvt. Ltd. promote their products by personal selling, advertisement with light boards, banners, wall painting, gifts, stickers, etc.

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1.4 SWOT ANALYSIS :S W O T Strength Weakness Opportunity Threats

STRENGTH:Strong brand name image company reputation, Balaji group concentrates on economies of scale, which results in producing a product at a lowest cost. Due to concentrate on wide middle class, they produce products at a cheaper rate compare to other and hence it enjoys leadership especially in Wafers

WEAKNESS :It could be weakness not to advertise in TV but looking into the availability of products to each area of nation then they should use TV media for their advertisements. They should go for public relationship by providing free gifts to school students or sponsoring festivals events. Lack of professional person in company. Lower frequency of advertisements in public place.

OPPORTUNITY :There is quite prospective market in India as well as foreign country to expand the business of Balaji Wafers Pvt Ltd. And producing various flavours on market trends. With changing trends of fast foods, the company can open their retail outlets/ restaurants in particular area or making fast food products.

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THREATS:Today , consumer taste and preference or consumer behavior has been changing they can easily be diverted through other competitors products due to offers, quality, falvours, gifts public relationships and others local players is capturing the slowly market which should be taken care by the company. The Balaji wafers pvt ltd. Fall under the categories of the FMCG and its a medim scale unit. The emphasize has been given to more on potato wafers and masala wafers but due to changing trends and demand company is concentrating more on each product to fulfill the demand of market.

Companys aim is to satisfy the customer by providing the qualitative product at affordable price secondly todays market is the competitive each and every kind of industry is facing competition Balaji wafers also have competitors like:Frito Lays Bingo Haldiram

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1.5 LITERATURE REVIEW

A review of the existing literature indicates a wide variance in the definitions of satisfaction. The lack of a consensus definition limits the contribution of consumer satisfaction research. Without a uniform definition of satisfaction, researchers are unable to select an appropriate definition for a given context; develop valid measures of satisfaction; and/or compare and interpret empirical results. Consumer satisfaction researchers have contended that these problems are pervasive and important (Gardial, Clemons, Woodruff, Schumann, and Burns 1994; Peterson and Wilson 1992; Yi 1990).

Raitano and Kleiner (2006). The consumer's fulfillment response. It is a

judgment that a product or service Feature, or the product or service itself, provided (or is providing) a pleasurable level consumption-related fulfillment, including levels of under- or over fulfillment .

Hartman, and Schmidt ( 1994 ) A transaction-specific affective response resulting from the customers comparison Product performance to some prepurchase standard .

Westbrook (1987) The evaluative response to the current consumption event...the consumers response a particular consumption experience to the evaluation of the perceived discrepancy between prior expectations (or some other norm of performance) and the actual performance of the product perceived after its acquisition.

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Academy of Marketing Science Review Consumers according to their different satisfaction perspectives. Thus, regardless whether Consumer A is less satisfied than Consumer B, Consumer A (and others Consumer A) should respond to a satisfaction scale that is appropriately anchored with intense adjectives, such as excited or enthusiastic. Furthermore, the scales should refer the relevant foci of their satisfaction (purchase experience, consumption enjoyment, product attributes).

These consumers should receive a survey instrument as soon purchase as possible and receive other appropriately-designed surveys later during consumption.

Foley, Quality and flexibility are important antecedents of customer

satisfaction. These antecedents were significantly lower in transnational relationships than in domestic. Using equity theory and the confirmation/disconfirmation

paradigm, the authors develop alternative models for describing the relationships between customer and its antecedents in transnational as opposed to domestic relationships. The findings reveal that there are no structural differences between transnational and domestic relationships regarding the relationships between customer satisfaction and its antecedents.

Researchers have operationalized consumer satisfaction using measures reflecting variance in intensity (e.g., terrible/delighted (Spreng and Olshavsky 1993; Westbrook 1987); pleased/displeased and contented/disgusted (Oliver and Swan 1989); and good/bad (Cadotte, Woodruff, and Jenkins 1987); however conceptual definitions typically lack an intensity reference. Group interviews clearly suggested response intensity is an important consideration. Response intensity refers to the strength of the satisfaction response, ranging from strong to weak. Group participants

27

mentioned descriptors such as good, excited, very satisfied, pleasantly surprised, relieved, frustrated, cheated, indifferent, and neutral. The intensity of satisfaction is evident in terms like "excited," "good," and "neutral." All reflect positive.

"For the restaurant, it [point of satisfaction] could be when you're seated, when you win the door. It starts at the beginning could color the rest of your experience even if everything else is okay." "I don't buy until I know I'm going to like it. Individual interview data also revealed a range of intensity. Responding to situations, interviewees described their satisfaction responses as "like love," "euphoria," and "thrilled," but also as "pleased," "indifferent," and "relieved. In some instances, satisfaction responses were so weak in intensity that consumers felt in other words, "I just really didnt think a lot about it." In sum, consumer data, with extant satisfaction research data, suggest consumer satisfaction is a summary affective response of varying intensity

When asked to describe satisfaction in general, personal interviewees revealed a strong product performance focus; such as, "If the product does what I expected it to, then I like it and I'm satisfied". This product focus may reflect the question wording as interviewees were asked to consider all products. However, some consumers mentioned a broader consumption focus on product benefits; such as, "Things I like to own and purchase, I want to have them work for me. I want to have them be useful." Somewhat unlike the group interview respondents but consistent with the literature, interviewees listed product performance standards and expectations as foci for satisfaction.

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The ability to define satisfaction and dissatisfaction using the same framework does not resolve the issue of dimensionality. The consumer data highlight this point: Approximately 50% of the personal interview respondents indicated satisfaction and dissatisfaction were just ends of a continuum; however, the other 50% suggested that dissatisfaction was manifested in a different manner than satisfaction. This apparent inconsistency might best be understood by examining the focus of satisfaction and dissatisfaction. Consumers were sometimes satisfied with one aspect of the

choice/consumption experience, but dissatisfied with another aspect. In this case, satisfaction and dissatisfaction can be viewed as different dimensions. The consumer might be satisfied with the functionality of a product, but not the purchase experience.

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1.6

RELEVANCE OF PRESENT STUDY

A respondents or consumers response does vary according to the changing

scenario. Consumers want the latest tastes and preferences and do not want to compromise with Quality and Quantity too as it affects their health which is taken care at the most.

Quality and flexibility are important antecedents of customer satisfaction. These antecedents were significantly lower in transnational relationships than in domestic.

Consumer satisfaction researchers have contended that these problems are pervasive and important. With the changing preferences company also need to maintain its pace with the dynamic changes of their tastes and habits of consuming.

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CHAPTER - II 2.1 RESEARCH OBJECTIVES

The purpose of research is to discover answers to questions through the application of scientific procedures. The main aim of research is to find out the truth which is hidden and which has not been discovered as yet. The research objective of our study is as follows:

To identify the target market of the company and how consumer satisfied with the product.

To know consumers tastes and preferences of people of Rajkot City. To know the product awareness by the consumer and perception towards the companys product.

To study prediction of consumer actions and understanding consumption practices in Rajkot City.

To find out the satisfaction level of the consumers To know the expectations of the consumers

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2.2

RESEARCH PROBLEM
A review of the existing literature indicates a wide variance in the definitions

of satisfaction. The lack of a consensus definition limits the contribution of consumer satisfaction research. Without a uniform definition of satisfaction, researchers are unable to select an appropriate definition for a given context; develop valid measures of satisfaction; and/or compare and interpret empirical results. Consumer satisfaction researchers have contended that these problems are pervasive. The existing literature review says that Response intensity refers to the strength of the satisfaction

response, ranging from strong to weak. Quality and flexibility are important antecedents of customer satisfaction.

Consumers according to their different satisfaction perspectives. Thus, regardless of whether Consumer A is less satisfied than Consumer B, Consumer A (and others like Consumer A) should respond to a satisfaction scale that is appropriately anchored withintense adjectives, such as excited orenthusiastic

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MARKETING RESEARCH
Launching new products can be attractive growth strategy, however this is not without risks. Some estimate thet 30-35% of all new products fail while others are more even pessimistic, citing that only two out of ten new launches succeed. Due to factors such as high advertising costs and increasing competition for shelf space,it has become more difficult to succeed with new products. An increasingly popular approach to reducing risk when launching new products is to follow a brand extension strategy and research methodology.

Today, various Indians as well as multinational companies adopte to have brand extension strategy to cover the niche market as well as to expand the business criteria to different target segment by reducing various risks through research and other tools. Today every company want to improve their name in the market and try to cover maximum amount of market towards them. They want to cover as much they cover the market and try to satisfy consumer needs and wants.

Balaji wafers pvt ltd is the growing leader in providing delicious and nourishing food products to customers through its experience. Over the time various concerns like competition, seasonality, income, consumer habits etc. have raised a need for a thorough study. Research purposes is to understand the market dynamics as well as customer habits of tradition in terms of customer satisfaction so as to enable Balaji wafers pvt ltd to make proactive tool to provide customer satisfaction and achieve higher relationship among the customers.

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Growth is necessity for any organization. Broadly growth could be achieved through either investing in the same business or by diversifying or expanding new extensions. Generally the intention is to expand in the same business area. This could be achieved roduct expansion, increasing the market base and by knowing the consumers onsumption pattern.

To find out the survey Consumer survey for Balaji products the one way is research methodology. To deal with customer and their preferences Research work gives more important terms and findings related to

Brand Extension of Balaji Wafers Pvt Ltd. Brand Image of Balaji Wafers Pvt Ltd. Brand Personality of Balaji Wafers Pvt Ltd Brand Perception of Balaji Wafers Pvt Ltd. Brand Satisfaction of Balaji Wafers Pvt Ltd.

Marketing research is to provide information that will assist marketing managers in recognizing and react to marketing opportunities and problems.

Marketing research is the function which links the consumer and public to the market through information.

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Marketing research study is the way to find out the hidden assets of the organization which should be implemented in proper way to expand the business with help of our prospective customers. Marketing research is an art, of scientific investigation. A careful investigation especially through search for new facts in any branch of knowledge. Systemazied effort to gain knowledge .

2.2 RESEARCH METHOLOGY

Sources of Data Primary Data Primary data collected on the basis of Questionnaire and the observation of the consumers.

Secondary Data Secondary data has been gathered from Newspaper, magazine and previous records prepared by the students.

RESEARCH INSTRUMENT

Structured Questionnaire.
SAMPLING PROCESS

Sampling Universe The universe for this study are Jamnagar.

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Sampling Technique The sample is divided among one strata , and it is only the consumers of Jamnagar. Sample Size The sample size is 250 individuals consumers. Data Collection Personnel

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CHAPTER - III 3.1 DATA ANALYSIS AND INTERPRETATION

Q1. Which companys Namkeen products are you consuming?

No. Of Respondents

120 100 80 60 40 20 0

110

50

40

40 10

ira m

al aj i

in g

La

al d

Name of Companies

Analysis : This question is asked to all consumers that which companys wafers and namkeen products they prefer more and on their response basis out of 250 respondents we can come to know that 44% consumers prefer Balaji company wafers and namkeen products and Balaji having good market here with respect to other companies.

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O th

er s

ys

Q.2 Rate the Namkeen companies as per the quality provided by them.

250

200

150

100

50

0 Balaji Haldiram Bingo Lays Others

Analysis :As per the above question asked to the consumers for their preference of the companies for namkeen products and rating them 210 respondents out of 250 ranked Balaji first for choosing their Namkeen and wafers. Thus we can conclude that Balaji has good image in the minds of consumers and it is being preferred more over other competitors like Lays and Bingo which are international companies.

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Q 3. From the following mentioned products which one you prefer the most?

8% 8%

4% 2%

10% 9%

5% 1% 1%

6% 3% 4% 6% 5% 10%

2% 6% 10%

Simply Salted Cream & Onion Banana chips Chana Dal Ratlami Sev Khata Mitha Mix

Masala wafers Masala Dhoom Chataka Pataka Mung Dal Gathiya Masala Shing

Tomato wafers Chat Chaska Falahari Chivda Aloo sev Tikha Mitha Mix Masala Peas

Analysis: From the above data we come to know that consumers prefer almost all products of Balaji but still Potato Simply Salted wafers -10% , Falahari Chivda 10% and Chataka Pataka 10% are liked more compared to others. Other products are also in approximate same range in liking but these three products enjoy more preferences over others Thus Balaji should maintain its taste for the products so they remain in the minds of consumer for long time.

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Q4:- Are you satisfied by the prices charged by Balaji for all its Namkeen products?

8% 4%

Satisfied Partially Satisfied Dissatisfied

88%

Analysis:As per the information gathered about the satisfaction for the prices for Balaji products 88% consumers are satisfied and as per the reasons given for ths atisfaction was More Quantity and Good Quality at Reasonable price. Thus Balaji is providing at affordable prices the quantity and quality required for the consumer. Only 8% are partially satisfied and 4% are dissatisfied.

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Q 5:

You prefer Balaji products because..

Brand Name 16%

Healthy 24%

Healthy and Tasty 28%

Tasty 32%

Analysis:According to the data collected consumers choose Balaji products because its healthy, tasty and also has become brand today. 32% of consumers say its tasty, 28% consumers say its healthy and tasty both, 24% say its only healthy and only 16% prefer because of its brand name. It is good sign that Balaji is preferred for healthy and nourishing qualities.

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Q6:- For what purpose you prefer Wafers and Namkeen products of Balaji?

24%
General

48% 16%

Party time Picnic Snacks

12%

Analysis:This question has been asked to find out for what purpose people prefer more wafers and namkeen and as per the responses we can interpret that 48% prefer for general purpose 24% for Snacks, 16% for picnic and outings and 12% for party time.

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Q 7:- Have you ever faced any dissatisfaction about the quality of Balaji products?

20% Yes No 80%

Analysis:This question is asked to find whether consumer has faced any dissatisfaction for the quality of Balaji products. From the answers 80% says No and only 20% says yes. This is a good sign for Balaji and Balaji should maintain this image and prove itself as the best quality provider for wafers and namkeens than other competitors.

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Q :8- If you are not satisfied then what are the suggestions to improve products?

Salt in simple wafers should be

More Salt

Less salt 0 50 100 150 200

Analysis:This question is asked to know whether consumer need any changes in existing product then 88% says no changes required but still they gave a small opinion for the changes that Simply salted wafers should have less salt because its not healthy to have more salt directly.

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Q 9:- Balaji should also provide

8% 20% Sweets Beverages Should continue in Namkeens

72%

Analysis:This question is asked weather people have any more preferences that Balaji should provide than 72% respondents gave preference that Balaji can also bring Sweets in the market because Rajkotians celebrate many festivals and prefer more sweets on occasions. 20% says for providing Beverages and only 8% says Balaji should continue in ttha same field of namkeens and should increase varieties in the same.

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Q10:- Should Balaji diversify its business into hotels and restaurants?

Can't say 8% No 12% Yes No Can't say Yes 80%

Analysis: This question has been asked to know the opinion from the people weather Balaji should diversify its business into hotels and restaurants. About 88% people say Yes Balaji should diversify ,12% says No and 8% cant say. This shows people would like and prefer if Balaji opens hotels and restaurants. As balaji has established itself in area of namkeen and got a nice response similarly if it diversifies it is hoped that again it will get good response as people of Jamnagar are like to eat more outside.

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CHAPTER - IV 4.1 CONCLUSION

Brand extension is playing important strategy at corporate level to satisfy the niche market segmentation and give new face to existence products or services. Launching new products can be an attractive growth strategy Brand extension has their own advantage as well as disadvantages and those are:

Line Extension Benefits: Gain more potential customers. The company can add more products so as it can target those customers whose taste and preferences are changing frequently. Offer customers more variety. Greater marketing efficiency Greater production efficiency Lower promotional costs. Increased profits.

Line Extension Threats: Potential for failure which may damage products within brand Possible intra-firm competition More preference to the health concise products

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Brand extension refers to use of a successful brand name to launch a new or modified product in a same broad market. By understanding some of the variables that influence consumers perception about the acceptabilityof brand extension,marketers should be better able to develop more effective strategies. The findings suggest that managers should consider perceived similarity; brand reputation , perceived product category risk , and consumer iinnovativeness as key factors influencing the success of their planned brand extension. Make sure the long term impact of any and all

introduction is consistent with your longer term brand strategy.

Research interpretation suggest that balaji wafers should launch new products in more varieties and also concentrate on Fast food and Health food as well as must open retail outlets where people can enjoy each varities of Balaji with less price with more foods under the roof of Balaji wafers.

Today In Gujarat Balaji wafers is having a huge market share and thus on that basis we can say that no other products in wafers and namkeens can now capture the from balaji wafers because now Balaji is the brand name which each and every person will like to have it foe snacks. Many of the consumers are brand conscious and thus they only buy Balaji wafers and thus this shows the peak of success for Balaji wafers.

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IMPLICATIONS OF PRESENT STUDY Most of the people are not aware about Cream & onion and Masala Dhoom flavours. Salted wafers should have less salt because majority of consumers said that direct salt is harmful.

Some packets of wafers contain small and burnt chips which reduces quantity. Company should inculcate some hallgram types of features as a mark of identification Balaji newly launched products Masala Dhoom and Cream & Onion are not available in many retailers shop.

Many consumers are not aware about the balajis Khakras so balaji should do some advertisements so that people get awared.

Balaji should introduce categorical chips for the Diabetics, B.P people.

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LIMITATION OF THE STUDY Sample size is only 250 , which may not represent the overall population. Sampling technique used is Random stratified convenient sampling; it may result in personal bias. Even the respondents may give biased answers. Resource and cost constraints

SCOPE OF THE STUDY This market research involves the study of Brand extension of Balaji Wafers Pvt Ltd. Brand preference of Balaji Wafers Pvt Ltd. Brand awareness of Balaji Wafers Pvt Ltd. Consumer buying behavior.

Which features are most prominent in consumers brand preference is also answered by this Market Research.Marketing Research also tries to find out the identification of acceptance of new brand extension or diversification.

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RECOMMENDATIONS Balaji wafers should produce health related foods because of future demand and people are becoming health conscious. Balaji wafers should involve with people relationships with particular target like providing gifts to children in school with free wafers samples. Balaji wafers should give some gifts, coupen etc inside the packets for sales promotion schemes. Balaji wafers should create or identify some brand mascot for product recognition that can be easily remembered by even layman and for brand recall of Balaji. Balaji wafers should take the feedback of particulars audience about the food products for their taste and preference so that exact masala or chilliness can be mixed.

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BIBLIOGRAPHY

C. R. Kothari, Research Methodology, New Age International Ltd. 2nd edition, 2008. Kotler, Keller, Koshi & Jha, Marketing Management, Dorling Kindersley Pvt. Ltd, Delhi

S.S. Khanka, Human Resource Management, S. Chand & company ltd., New Delhi, 2008 Bedi, "Production & Operations Management", Oxford University Press, New Delhi, 2004

WEBLIOGRAPHY
http://www.jstor.org/pss/4375056

http://www.balajiwafers.com/index.html http://www.findarticles.com

OTHER REFERENCES Bearden, William O. and Jess E. Teel 1983. "Selected Determinants of Consumer Satisfaction and Complaint Reports." Journal of Marketing Research 20 (February): 21-28.

Bollen, Kenneth A. 1989. Structural Equations with Latent Variables. New York: John Wiley and Sons.

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Bolton, Ruth N. and James H. Drew. 1991. "A Multistage Model of Customers' Assessments of Service Quality and Value." Journal of Consumer Research 17 (March): 375-384.

Cadotte, Ernest R., Robert B. Woodruff, and Roger L. Jenkins. 1987. "Expectations and Norms in Models of Consumer Satisfaction." Journal of Marketing Research 24 (August):

Cardozo, Richard N. 1965. "An Experimental Study of Consumer Effort, Expectation and Satisfaction." Journal of Marketing Research 2 (August): 244-249.

Churchill, Gilbert A., Jr. 1979. "A Paradigm for Developing Better Measures of Marketing Constructs." Journal of Marketing Research 16 (February): 64-73. and Carol

Surprenant.1982. "An Investigation into the Determinants of Customer Satisfaction." Journal of Marketing Research 19 (November): 491-504.

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ANNEXURE Questionnaire on study for Consumer Survey for Balaji Products

NAME:AGE:OCCUPATION:-

1) Which Companies Namkeen products you are consuming?

Balaji

Haldiram

Bingo

Lays

Others

2) Rate the Namkeen companies as per the quality provided by them.

Balaji

Haldiram

Bingo

Lays

Others

3) Among the following products of Balaji which one of them you are Aware and Prefer, Aware and Not Prefer,Not Aware and Not prefer?

Products

Aware Tasted

and

Aware But not Tasted

Prefer

Not Prefer

*Potato wafers Magic Masala Simply Salted Tomato Masala Dhoom Cream Omion Chat Chaska and

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*Banana chips Masala Mari Chataka Pataka Masala Tomato Others Falahari Chivda Chana Dal Moong Dal Aloo Sev Ratlami Sev Gathiya Thikha Mix Khata Mitha Mix Masala Sing Masala Peas Mitha

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4) Are you satisfied by the prices charged by Balaji for all its Namkeen products? Satisfied Partially satisfied Dissatisfied

Give Reason:._______________________________________________

5)

You prefer Balaji products because its___

Healthy

Tasty

Both

Brand Name

6) For what purpose you prefer Wafers and Namkeen products of Balaji?

General

Party time

Picnic

Snacks

7) Have you ever faced any dissatisfaction about the quality of Balaji products? Yes No

If Yes then have you ever complained and got proper response?

8) If you are satisfied then what are the suggestions to improve the products? -------------------------------------------------------------------------------------------------

9)

Balaji should also provide..

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10) Should Balaji Diversify its business into hotels and Restaurants too?

Yes

No

Cant Say

11) Any Other Suggestions

Thank you

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