balaji wafers
TRANSCRIPT
Content
Sr. No. Particulars Page No.
1 Introduction 2
2 Historyof the organization 3-7
3 Objectives of the study 8
4 Research methodology 8-9
5 Limitations 10
6 Data Analysis 10-21
7 SWOT Analysis 22
8 Findings and recommendations 23
9 Conclusion & Recommendations 24
10 Annexure 25-26
11 Bibliography & References 27
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Introduction
The motive behind making this repot is fast growth of company. Balaji Wafers Pvt. Ltd. is challenged on of the top most company “Lays” and captured a large market in very short span of time. Pricing strategy is the key point of success. This company has satisfied there customers by providing a complete package of quality, quantity, price and taste. All these points inspired me to know more about the company.
“ Chataka creator Balaji Wafers Pvt Ltd has managed to fend off bigger players like Pepsico and Haldiram's in the Rs 600-crore Gujarat market for over two decades since launch.”
“Food and beverages firm PepsiCo has consolidated traditional packaged snacks such as namkeens for the mass market under a new entity, Lehar Foods, to take on regional brands such as Balaji, Bikanerwala and A-Top Foods.”
"Balaji survives solely on word-of-mouth publicity," Mahesh Manjawala, executive director, Triton Communications, adding that the group has few advertisements to its name. he also said "Balaji understands the palate of the consumer well. "
All the above news also states that company challenges every big-giant. Company not only challenged them but also changed the entire wafer industries working policy. All these things inspired me to learn more about the company and find out the more facts about the company. While doing this project I also find that many theories are used by the company which I learn in class-room.
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History of the organization
The journey of Balaji Group in year 1976 by the member of Virani family. For supplying wafers
and namkeens to local brands to the patrons of Astron Cinema, Rajkot. Due to the shore supply
of that product they decided to make their own product line in year 1982. By the overwhelming
retail success they inspired to set a semi automatic plant. Instead of preparing wafers by the
traditional frying method this semi automatic plant boosted the quality, taste and more sales also.
The fame of taste reached to the whole Gujarat hence it was time to takeover the whole Gujarat
so that biggest automatic plant of Gujarat came in to the picture. Quenching the demand of
Gujarat, Maharashtra and Rajasthan region Balaji Group is now looking forward to march over
India.
Balaji wafers has also an interesting history behind the establishment Mr. Bhikubhai the
chairman and Mr. Chandubhai the managing director of the company worked very hard to reach
at the current position.
The history of Balaji Wafers begins with the era when Chandubhai and Bhikubhai were working
on contract basis for supplying the wafers to the canteen of astron theatre at Rajkot city.
Shri Meghji Virani, Bhikubhai Virani, Chandubhai Virani and Kanubhai Virani are the sons of
Shri Popatbhai Virani of Dhundhoraji village of Jamnagar district.
But at that time they got the raw materials from the 3rd party and than they manufactured and
supplied the same to the canteen of Astron Theater but there were a problem of short as well as
delay in supply of products on time. As these kinds of problem can lead a business to peril and
can ruin it something had to be done in these regards as an ultimate solution to all the problems
they decided to manufacture wafers on their own and supply the same to canteen and thus the
foundation of Balaji Wafers was first setup but without any brand name in 1982.
Since the taste and quality was excellent, demand for their wafers was increasing day by day to
pace with this increasing demand of wafers in market they started producing wafers in bulk
without any compromise in quality and taste of the products they acquired a small place with
very limited investment with indigenous frying method thereafter a semiautomatic plant was
established with a production capacity of 200kgs per hour they started selling their product
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initially in ordinary packing but after upgrading the technology they used decent packing to
attract cream market and thus got more market share in the food market. This development had
lead BALAJI from normal wafers producer to BALAJI WAFERS PVT LTD in 1990.
The initial investment of the company was only Rs. 25000 in recent stage it has assets of Rs. 5
crores and will be increase in future the company conforming with many hardest and make a
progress and development which may be described by following ways.
It started a production in simple packing and without brand name and satisfied the
demand at canteen since, the quality is best the demand of the product was increased.
This development had lead BALAJI from normal wafer producers to BALAJI WAFERS
PVT LTD in 1990 up to now BALAJI was producing the products manually.
After then to meet the demand they started manufacturing the product in semiautomatic
plant the production capacity of this machinery was 200 kgs per hour.
After then they adopt a highly techniqued fully automatic plant which is only one in
whole of Asia the production capacity at this plant is 1200 kgs per hour.
Recently they set up a huge fully automatic plant for production as well as nitrogen
packing for long term preservation of the products.
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KEY PERSONS OF THE COMPANY
Mr. Bhikubhai Virani Chairman
Mr. Chandubhai Virani Managing Director
Mr. Kanubhai Virani Technical Director
Mr. Keyur Virani Research And Development Managed
Mr. Hitesh Virani General Manager
Mr. Nayan Tank Marketing Manager
Mr. Jay Sachdev Sales Representative
Form of organization
According to John Piffiner “Organization is an essentially a matter of man to man job to job and department to department.”
There are different types of organization like
Line organization Staff organization Line and staff organization Committee organization Project organization Matrix organization
Out of all these Balaji Wafers follows line and staff type of organization structure line and staff organization means to prepare plans to take vital decisions and to implement them effectively all these function cannot be performed simultaneously by a single person hence there emerged a system where in line officers received advice from the staff experts the organization structure is as follows.
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ORGANIZATION STRUCTURE
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Chairman
Managing director Technical director
Production manager
Marketing manager
Technical staff
Area wise salesmen
Technical workers
Packing supervisor
Working staff
Products of the company
The product is the most important element by which any firm can prove its efficiency and improvement of quality product is a symbol of the business firm.
BALAJI WAFERS PVT LTD is engaged in the production of food item they produce 12 different types of snacks items which are as under:-
1 Potato Wafers.
2 Masala Wafers.
3 Banana Wafers.
4 Masala Banana Wafers.
5 Farali Chevdo.
6 Peanuts.
7 Ratlami Sev.
8 Sing Bhujiya.
9 Mung Dal.
10 Chana Dal.
11 Vatana.
12 Masala Sing.
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Objectives of the study
To have a clear understanding of the wafers’ industry and Balaji wafers Pvt. Ltd.’s
position in market.
To know the awareness amoung the customers about the balaji products.
To conduct an exhaustive market research on introduction of new flavors.
To check price acceptance, innovation excitement amongst consumers.
To compare the balaji products with other brands.
To check the awareness as well as level of satisfaction of retailers with distributors & the
company with regards introduction of new flavors.
Research Methodology
Research
Research is the application of human intelligence in systematic manner to a problem. It may minimize the total uncertainty by intelligence use of the most reliable data available in the organization.
According to P.V. Young we may define research methodology as scientific undertaking which by means of logical and systematized method, aims to discover new facts.
Steps In Research Methodology
1. Selection or choice of research problem.
2. Understanding the research problem.
3. Collection and review of knowledge of written material.
4. Selection of the most promising method of solution.
5. Listing and selection of different tools of data collection.
6. Execution of research plan.
7. Coding and processing of research data.
8. Preparation of the brief report.
9. Preparation of the final report
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Sources of data
There are different sources of collecting data before deciding the sources to collect the data one has to make a proper planning of investigation and purpose of inquiry following are the sources of collection of data
Internal sources
Such type of information is always available in books of organization e.g. sales, production, salary and wages etc.
External sources
This type of information is collected from outside agencies hence it is called data collected from external sources primary data are original and first hand information while secondary data are second hand information already prepare or collected in the previous research.
Methods of collecting primary data
1. Direct personal interview
2. Indirect personal interview
3. Information from correspondence
4. Mailed questionnaires
5. Questionnaires to be filled by the enumerators
Method for collecting secondary data
1. Internet
2. Company Annual Report
3. News paper (Like: Times of India, Brand Equity Page)
My attempt to research was quite simple and straight forward first of all the list of questions was prepared by me under guidance of our professors an then I asked many questions regarding advertising to marketing manager the main advantages of this method are that accurate information can be collected and personal conduct becomes possible.
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Data Analysis
Market share of Balaji
45%
28%
16%
11%
Market Share in %
BalajiHaldiramLaysother
Limitations of the study
The sample size of the survey was very large and tedious to interview. The time taken to interview each consumer was a lot as every consumer had to be first
explained everything and had to be dealt with patience. The survey is conducted in nanded only.
The time frame given to us was not enough to cover a larger of sample size.
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Survey Analysis
1. Comparison between consumer choices?
Survey Analysis
Quality Balaji Haldiram Lays No. of customer
Quantity 6 8 11 25Taste 11 8 6 25Price 8 6 11 25
13 5 7 25
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Quality Quantity Taste Price0
2
4
6
8
10
12
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BalajiHaldramLays
Data Collected
Consumers approached were asked about their satisfaction in this study. This question was answered by 25 consumers. The satisfaction scale comprised of three ranks – Quantity, taste and price.
Analysis
From the table, bar graph depicted above, satisfaction levels with the above 25 respondents who answered the questionnaire,13 members are satisfied with balaji wafers
Interpretation
By analysing the responses to this question, we, the researchers, as well as companies, can identify the effectiveness of advertisements, location, brand, price, promotion, product variety etc., on the target consumers. This helps to understand the current consumer perception about Balaji wafersr and the corresponding satisfaction levels.
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2. Which product of Balaji wafers customer mostly buy?
Product No. of customer
Salted wafers 4
Masala wafers 8
Tamato wafers 6
Namkin 7
Total Customer 25
No. of customer mostly buy
Salted wafersMasal wafersTamato wafersNamkin
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Data Collected
Consumers approached were asked which form of advertisement they thought was most effective. This question was answered by 25 consumers. No of customer mostly buy. The options laid before the respondents were the result of observation and interview as being the most popular which the consumers identify as means of advertising.
Analysis
The table, pie chart depicted above, the effectiveness of the customer’s choice. Of the 25 respondents who answered the questionnaire, 8 indicated that they like masala wafers. Of the 25 respondents who answered the questionnaire, only 4 indicated that they like salted wafers.
Interpretation
The respondents give very little credit to salted wafers and tomato wafers. This is indicative of the fact that most of the public ignore salted and tomato wafers. Thus, it can be surmised that masala wafers and namkins are like by customers.
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3. Which sizes of packing customer like to buy?
50 grms 80 grms 120 grms0
2
4
6
8
10
12
14
Packing size customer like
Packing size customer like
Packing size No. of customer
50 grms 8
80 grms 12
120 grms 5
Total customer 25
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4. How frequenty customer buy Balji wafer?
Daily Weekly Monthly0
2
4
6
8
10
12
14
No. of customer
No. of customer
Period No. of customer
Daily 6
Weekly 12
Monthly 7
Total customer 25
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5. Is the product easily available in the marke?
Is Balaji product easily available in the market
YesNo
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Customer View
No. of customer
Yes 22
No 3Total Customer
25
Product Planning
Product planning means the planning for the product that is to decide what type of production is
to be produced or what needs or requirement the product has to satisfy and for whom the product
is meant. Product planning is an important concept for any industry. Every industry must plan its
products as which result profitable for the company and satisfy the consumer wants. So far as
Balaji Wafers is concerned its main produces
1. Potato Wafers
2. Masala Potato Wafers
3. Banana Wafers
4. Banana Masala Wafers
5. Farali Chevdo
6. Ratlami Sev
7. Sing Bhujiya
8. Chana Dal
9. Peanuts
10. Mung dal
11. Vatana
12. Masala Sing
It plans its product in order to maintain existing customers in fact BALAJI WAFERS PVT LTD
does not require much of product planning it has a very good marketing network and also a very
good market for its product.
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Pricing Policy
Out of 6 Ps of marketing mix pricing is one of them price of the product is main element in any
organization. Therefore, decision regarding price is the most vital decision for a marketing
manager. Right price can promote sales of the company. While wrong price affects the sales of
the company largely, so mixing of price is more important than all other tasks.
Pricing is an important element of the marketing department. a company has to setup the pricing
policy considering so many factors such as demand, competition, government interference etc
even company has its own pricing policy.
Balaji Wafers Pvt Ltd is in concerned the company tries to keep least prices than competitors
price lower prices are there because of their minimum advertisement cost. The company has
adopted retail pricing policy under the policy the company binds the retailers to sale the branded
goods at the fixed rate decided.
The company gives fixed commission to dealers the catalogue of price is given as follows:-
Price List
Product Balaji
(Price/80grms)
Lays
(Price/80grms)
Haldiram
(Price/80grms)
Potato Wafers 10 (Rs) 15 (Rs) __
Masala Potato
Wafers
10 (Rs) 15 (Rs) __
Banana Wafers 10 (Rs) __ __
Farali Chevdo 10 (Rs) __ 15 (Rs)
Ratlami Sev 10 (Rs) __ 15 (Rs)
Sing Bhujiya 10 (Rs) __ 15 (Rs)
Chana Dal 10 (Rs) __ 15 (Rs)
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Advertisement
Advertisement is an important aspect in marketing. It is concerned with the preparation of visual and oral messages for making people aware of and favorably inclined towards product, brand, service, quality and institution and so on. The ultimate aim of advertising is to contribute towards increase sales and to increase profit. It is a specialized technique of popularizing the product and is indispensable in the marketing of goods.
Advertising is a powerful promotion tool to establish and retain brand loyalty, whether a company is introducing new produces or expanding the existing one. Advertising is inevitable in this modern competition market. It can be done through various ways.
So far as “BALAJI” is concerned it also spent a good amount on advertising. It makes advertising by following ways:-
1.Lighting board
2.Banners
3.Kitchen
4.Calendar
5.Wall painting
6.Wall clock
Branding
The word brand is a comprehensive term. The brand is to name or mark is a proof of ownership it means a signor symbol of quality. it is the best means of advertising and positioning in the market branding is the best means of capturing and retaining the consumer demand in a competitive market the marketer can create brand equity, brand loyalty and brand image for his products only through branding.
Balaji wafers pvt ltd has the brand name as “BALAJI”.
Packaging
packaging may be defined as the general group of activities in the planning of a product these activities concentrate on formulating a design of the package and producing an appropriate and attractive container or wrapper for a product the container itself can act a forceful though silent and colorful salesman at the point of purchase or an effective medium of advertisement encouraging impulse buying many a time , package design itself can act as a register brand, packaging is necessary to present flowing out of such liquid. It is essential to maintain freshness
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and quality; it can prevent the danger of adulteration. In BALAJI the packing is done by fully automatic packing machine. They are able to prepare 180 to 100 packs in 1 minute.
Slogans
The entire well known companies have selected an effective and meaningful slogan to communicate with their customer about the product in very few words it is the explanation of the product in one line in emotional way the slogans with right meaning attract the consumer to purchase the particular product forever.
Balaji has the following slogans:-
In English
“Any time crunchy , All time fresh”
In Gujarati
“Jyare pan khav karkari ane taji”
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Swot Analysis
The following are the strength, weakness, opportunity, and threats Of Balaji Wafers Pvt Ltd:-
Strength
1.Balaji is an established brand in region of Gujarat hence it enjoy very good brand name.
2.Balaji has a strong distribution network in Gujarat.
3.Balaji is the first company to launch the wafers in Gujarat market.
4.Company gives healthy profit margin to retailers so they are also very satisfied with company’s product.
5.To maintain quality at any cost is the first and strong object of the company.
6.Balaji having the one and only fully automatic plant for production in Gujarat.
7.Balaji has a long experience in relating region of Gujarat. Hence it can use them as an advantage to establish its leaders in the market.
Weakness
1.Balaji does not aggressively advertise on T.V. or in other media.
2.In this company there is no facility of own warehouse.
Opportunity
1.Balaji is a well known established brand in wafer market in Gujarat. Hence it can use its brand name further established itself in the national market.
2.As the real income of the people increases day by day, there are lots of avenues that can be explored by the company to attract potential market in the urban, semi urban and rural areas. The company is now launching the products in Maharashtra state.
Threats
Balaji switching amongst consumer has increased due to new entrances offering various products in the market so it may be possible that the regular customer of BALAJI start trying to buy other brands of wafer. Hence the company must keep upgrading its product list to suit and match the faster and ever changing demand of customer and to give them maximum satisfaction.
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Findings And Recommendations
Findings
1) Availability Of Product
In relation to this question all the retailers replied positively, which shows 100% availability of all the products of BALAJI on time without any delay.
2) Popularity Of The Product
When I asked about customer’s preference or about the product highly demanded by the customers, the retailers said that
a.Highest demand is for potato chips
b.Second is for Farali Chevdo
c.Third is for namkeens like ratlami sev etc.
d.Fourth is for sing.
3) Option For Unsold Goods
For unsold goods dealers should provide option like money back or changing of the stock etc. BALAJI dealers also give the option of replacement it is one of the good techniques of promoting the product.
All the retailers got replacement facility however in reality most of the retailers said that there hasn’t been the case of unsold stock.
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Conclusion
Balaji Wafers Pvt Ltd is profit making company. It works smoothly since it is established there the company follows all the principles of physical distribution and also follows standard ordering processing system and it has also control the inventory by appropriate department. The distribution channel of the company works efficiently and effectively towards achieving the goals with full of confidence and cooperation.
Recommendation
Therefore there is no need for recommendation to the company but I feel that if the company starts advertising on large scale on television media it can expand the business from Gujarat to whole of nation and after that even at international level because the quality is high of the product so I see a bright future of this company in India.
All my best wishes are with them for sparkling future.
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Annexure
Questionner
Name:
Age:
Occupation:
Address:
5. Which product of Balaji you buy?
Salted wafer [ ] Masala wafer [ ] Tamato wafer [ ] Namkin [ ]
6. How Frequintly you buy?
Daily [ ] Weekly [ ] Monthly [ ] Yearly[ ]
7. What motivates you to buy Balaji products?
Quality [ ] Quantity [ ] Taste [ ] Price [ ]
8. Is the product easily available in the market?
Yes [ ] No [ ]
9. Which is your favourite brand of Wafers?
______________________________.
10. How would you rate the below products? (On a scale of Average, Good, Excellent)
Products / Attributes
Quality Quantity Taste Price
BalajiHaldiramLays
11. Which type of wafers you would prefer?a. Fried [ ] b. Rosted [ ]
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12. What is the one thing you look for while buying a wafers?
______________________________________________________
______________________________________________________
13. Which size of packing you like to buy?
a. 50grms [ ] b. 80grms [ ] c. 120grms [ ]
14. Suggession if any -- _______________________________________
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Bibliography
1) Books Marketing Management - Philip Kotler
Marketing Management - Verma and Agarwal
2) Reports
Some old reports for reference
http://www.balajiwafers.com/
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