Creating Demand Around the World

Emerging Markets: China and India

Creating Demand

Around the World

Emerging Markets:

China and India

Moderator: John Talbot, ABC

Presenters:

Glenn Pappalardo, Deloitte Consulting

John Talbot, ABC

Sudarshan Mazumdar, ABC

Deloitte Consulting LLP

Almond Board of California

Global Market Development Analysis Project

Perspectives on Emerging Markets

December 8, 2011

- 4 -

Over the course of the 12 week project, four phases were used to identify and

evaluate opportunities

Options under consideration

Phase 1:

Region Selection

Phase 2:

Current Market

Sizing

Phase 3:

Future Market

Sizing

Phase 4:

Opportunity

Prioritization

Establish filtering

criteria to evaluate

and select the most

impactful and high

potential markets for

model inclusion

Develop baseline of

almond consumption

for key selected

markets through

production, category

and consumption

data inputs

Forecast future

consumption

patterns and

opportunities by

analyzing global

category trends,

product innovation,

and consumer

preferences

Identify the most

attractive

opportunities for ABC

to focus on and

invest in based on

various execution

oriented

considerations

Regional

Selection

Tool

Phase

Objectives

Key

Outputs

Key

Activities

Category

Consumption

Index

Future Growth –

Attractiveness

Map

Prioritized

Opportunities

List

- 5 -

The project evaluated market consumption across seven distinct food categories

The combination of a specific category with a given market creates what was referred to as a „market

intersection‟

Food Category Definition Examples

1. Snacking

Whole almonds (pasteurized or not, and packaged or

not), granola/energy bars, cereal bars, trail mix, mixed

nuts, almond crackers, industrial packaged baked goods

and any other snack food with almonds as an ingredient

2. Confectionery Candy bars and chocolate coated almonds

3. Cereal Ready to eat (RTE) cereals, including both children‟s

and family cereals - does not include cereal bars

4. Ice Cream Ice cream products and novelties, including bulk and

multi-pack

5. Bakery Artisanal bakery goods made fresh and sold in bakeries,

including cakes, pastries and bread - does not include

industrial packaged, extended shelf life baked goods

6. Food Service Quick casual, family casual, and fine dining restaurants,

but does not include artisanal bakeries

7. Other Almond milk, almond products used as cooking/baking

ingredients, as well as other almond based foods (such

as almond butter, almonds in rice, marzipan, etc.)

- 6 -

The concept of a country’s ‘addressable population’ was the first filter utilized in

identifying potential opportunities for ABC

Addressable Populations (Top 20) Definition & Methodology

Projected Population 2021

Country Total Addressable %

1 China 1,398,653,940 1,164,966,725 83%

2 India 1,401,888,600 774,393,506 55%

3 United States 339,685,242 334,734,620 99%

4 Indonesia 264,540,464 188,988,281 71%

5 Brazil 211,707,407 184,535,433 87%

6 Japan 124,452,649 121,584,759 98%

7 Russian

Federation 140,688,183 121,319,469 86%

8 Mexico 127,009,575 113,926,224 90%

9 Pakistan 208,474,354 93,954,632 45%

10 Nigeria 208,911,216 81,540,219 39%

11 Philippines 111,413,197 79,896,908 72%

12 Germany 80,877,368 78,688,211 97%

13 Bangladesh 168,933,283 77,458,622 46%

14 Iran 81,545,392 70,857,229 87%

15 Egypt 96,073,160 70,268,670 73%

16 Turkey 81,441,451 66,034,005 81%

17 France 66,149,953 64,772,934 98%

18 U.K. 66,167,985 63,371,307 96%

19 Viet Nam 97,026,982 61,858,009 64%

20 Italy 61,265,272 59,029,711 96%

Definition

The percentage of a country or market‟s

population who can be effectively reached and

influenced by ABC and industry efforts

Addressable Population Factors:

Addressable Population was estimated based

on the following:

1. Population Projections 2021

2. Urbanization Projections 2021

3. Human Development Index

Cutoff Point: 25 million in

addressable population by 2021

Output: 38 countries / regions

- 7 -

Countries were grouped into one of three types – Established. Emerging and

Exploratory – based on the nature and extent of ABC’s efforts and experience

Projected Population 2021

Country Total Addressable % Country Type1

1 United States 339,685,242 334,734,620 99% Established

2 China 1,398,653,940 1,164,966,725 83% Emerging

3 Japan 124,452,649 121,584,759 98% Established

4 Brazil 211,707,407 184,535,433 87% Exploratory

5 India 1,401,888,600 774,393,506 55% Emerging

6 Russia 140,688,183 121,319,469 86% Emerging

7 Mexico 127,009,575 113,926,224 90% Exploratory

8 Indonesia 264,540,464 188,988,281 71% Exploratory

9 Germany 80,877,368 78,688,211 97% Established

10 France 66,149,953 64,772,934 98% Established

11 U.K. 66,167,985 63,371,307 96% Established

12 Canada 37,457,985 36,629,985 98% Established

13 South Korea 49,916,247 49,258,789 99% Emerging

14 Middle East 53,955,396 48,892,998 90% Exploratory

1. „Country Type‟ is how established the country / region is with regards to ABC‟s efforts and activities, as well as knowledge of the market

Summary of Type Classifications for Countries Evaluated

- 8 -

While Emerging Markets opportunities dominate the priority list when viewed solely

by growth potential, they slip in the rankings when other factors are considered

Growth Opportunity '16 Growth

1 China Snacking 239.0

2 U.S. Snacking 94.0

3 India Snacking 36.5

4 U.S. Food Service 32.2

5 China Food Service 16.8

6 South Korea Snacking 12.7

7 U.S. Confectionery 12.2

8 Russia Snacking 9.1

9 Canada Snacking 8.7

10 India Confectionery 8.6

11 India Food Service 7.9

12 China Confectionery 7.7

13 China Bakery 7.2

14 U.S. Cereal 5.8

15 Japan Snacking 5.3

16 India Ice Cream 5.3

17 China Ice Cream 5.1

18 Middle East Snacking 4.8

19 Mexico Snacking 4.7

20 Russia Confectionery 4.3

21 France Bakery 4.0

22 Canada Food Service 4.0

23 South Korea Confectionery 3.5

24 U.S. Ice Cream 3.3

25 France Snacking 3.2

Growth Opportunity Change '16 Growth

1 U.S. Snacking 1 94.0

2 China Snacking 1 239.0

3 U.S. Food Service 1 32.2

4 U.S. Confectionery 3 12.2

5 Canada Snacking 4 8.7

6 South Korea Snacking NC 12.7

7 U.S. Cereal 7 5.8

8 India Snacking 5 36.5

9 China Food Service 4 16.8

10 Russia Snacking 2 9.1

11 Japan Snacking 4 5.3

12 India Ice Cream 4 5.3

13 China Confectionery 1 7.7

14 India Confectionery 4 8.6

15 China Bakery 2 7.2

16 India Food Service 5 7.9

17 France Bakery 4 4.0

18 Canada Food Service 4 4.0

19 China Ice Cream 2 5.1

20 Russia Confectionery NC 4.3

21 Middle East Snacking 3 4.8

22 Mexico Snacking 3 4.7

23 France Snacking 2 3.2

24 U.S. Ice Cream NC 3.3

25 South Korea Confectionery 2 3.5

Recommended Prioritization Prioritization – Growth Only

- 9 -

1%

8%

6%

2%

0%

6%

77%

0% 20% 40% 60% 80%

Other

Food Service

Bakery

Ice Cream

Cereal

Confectionery

Snacking

The Chinese market offers significant growth potential, largely centered around the

snacking category in the near term

Current Consumption Consumption by Food Category

China and

Hong Kong

Food Category Consumption % of Total

Per Capita: 0.09 lbs

Population: 1,349 M

Per Addressable: 0.13 lbs

Addressable Pop. 938 M

% of Total 70%

Snacking

Confectionery

Cereal

Ice Cream

Bakery

Food Service

Other

Future Consumption

Almond Consumption per Capita

(Lbs per Person Annually)

16.1%

CAGR

Sources of 2016 Growth

Population

Food Category

Category

Penetration

0%

0%

2%

3%

3%

6%

86%

0% 20% 40% 60% 80% 100%

Cereal

Other

Ice Cream

Bakery

Confectionery

Food Service

Snacking

Growth by Category, 2010-16

- 10 -

Growth rates across a number of important metrics supports the view that China’s

consumption of almonds will increase significantly in the coming years

Drivers of Overall China Market Growth 2010 - 2016

17.6%

20.5%

13.0%

8.1%

7.9%

21.1%

13.0%

7.9%

18.9%

0% 5% 10% 15% 20% 25%

Personal disposable income

Consumer expenditure: Health

Total Health & Wellness Spend

Better For You Food

Naturally Healthy Food

Organic Food

Calorie consumption

Grocery store growth

Retail sales: food

Key Metric CAGRs Drivers

Food Retail

Environment

Overall Food

Consumption

Consumer

Tastes and

Preferences

Health

Consciousness

Source: Euromonitor, Economist Intelligence Unit, Planet Retail

- 11 -

By 2020, China’s GDP will be larger than Korea, Canada, Turkey, Russia, Australia,

Spain, and 25 other countries combined

*Source: HSBC Global Research, Inside the Growth Engine

Projections assume: 1) a 7% and 4% differential in nominal GDP growth rates between Mainland China and the developed world and developing countries, respectively

2) a 3% annual appreciation of the RMB against the USD over the coming decade. (Both assumptions are conservative relative to current market forecasts)

• While inland China‟s

economy improves

rapidly over the next

decade, the highest

concentration of wealth

remains in the coastal

provinces

• This rapid GDP growth

will increase the purchase

power of the average

Chinese consumer,

making almonds more

accessible to a wider

number of people

- 12 -

China’s population is becoming increasingly urbanized, which will lead to more rapid

evolution in consumer preferences and habits

With 47% of the population now living in cities, eight Chinese cities have a population of more than 10m,

and 93 have more than 5m ( by comparison, the US only has 9 cities with populations more than 5m)

• By 2016:

• Urbanized

population share of

51.8%

• Represents an

additional 55 million

people

• Rapid urbanization leads

to spending and lifestyle

changes that support more

Western habits, product

preferences, and

consumption levels

Tier 1: Above 30m

Tier 2: 10m - 15m

Tier 3: 8m - 10m

Tier 4: 6m - 8m

Tier 5: Below 6m

Source: HSBC

- 13 -

China’s middle class should continue to grow for the foreseeable future, driven by

growing affluent urban centers and a rapidly increasing consumerist lifestyle

Urbanization

• Urban centers lead in growth

• Competition among 2000+ county cities

important

Growth of Middle Class

• Present estimates of the middle class in

China range from 100 million to 247

million

• Assuming a $9,000 annual income

threshold, middle class will reach 600m

by 2015

Shift from Investment to Consumption

• China now moving from an export market

toward a domestic consumer

• Consumption currently only accounts for

36% of GDP (1/2 the US rate, and 2/3

European rate)

• Chinese savings rates are currently 15%

higher than China‟s historical level of 50%

Source: European Business Review, Planet Retail

China GDP per Capita (US$)

2005 - 2015

China Consumer Goods Spend per Capita (US$)

2005 - 2015

- 14 -

Almond shipment trends also imply high growth potential for China

• For the last 5 years, ABC shipments to China /

Hong Kong show a 57% CAGR

• Adjusting for reshipment and grey trade

suggests a CAGR of 75%

• Shipments of both in-shell and shelled have

consistently increased over the last 5 years

• Ratio of in-shell to shelled almond shipments

has increased from 13% in 2006 to 48% in 2011

Almond Shipments by Destination* China Shipments In-Shell v. Out-of-Shell*

Historical shipping data indicates rapid growth of almond consumption in China, driven largely by shipments

of in-shell almonds, suggesting growth in the snacking category

Source: Almond Board of California shipment data, Deloitte analysis

- 15 -

2%

7%

4%

3%

1%

5%

79%

0% 20% 40% 60% 80%

Other

Food Service

Bakery

Ice Cream

Cereal

Confectionery

Snacking

Despite low current consumption per capita, India’s sheer scale and future growth

trends make it an important market for further development

Total Consumption Consumption by Food Category

India Food Category Consumption % of Total

Per Capita: 0.09 lbs

Population: 1,216 M

Per Addressable: 0.21 lbs

Addressable Pop. 505 M

% of Total 42%

Snacking

Confectionery

Cereal

Ice Cream

Bakery

Food Service

Other

Future Consumption Trends

* May not total due to rounding

Almond Consumption per Capita

(Lbs per Person Annually)

5.8%

CAGR

Sources of 2016 Growth

Population

Food Category

Category

Penetration

1%

1%

4%

9%

13%

14%

59%

0% 20% 40% 60% 80%

Other

Cereal

Bakery

Ice Cream

Food Service

Confectionery

Snacking

Growth by Category, 2010-16

- 16 -

A variety of key metrics projections support optimistic views on India’s near term

growth prospects

Drivers of Overall Market Growth 2010 - 2016

Key Metric CAGRs Drivers

Food Retail

Environment

Overall Food

Consumption

Consumer

Tastes and

Preferences

Health

Consciousness

11.6%

14.5%

12.5%

12.7%

15.0%

19.8%

12.5%

12.0%

12.3%

0% 5% 10% 15% 20% 25%

Personal disposable income

Consumer expenditure: Health

Total Health & Wellness Spend

Better For You Food

Naturally Healthy Food

Organic Food

Calorie consumption

Grocery store growth

Retail sales: food

Source: Euromonitor, Economist Intelligence Unit, Planet Retail

- 17 -

India’s Food Retail environment is among the least organized and highly fragmented

in the world, although recently passed legislation may help improve the situation

Organized Grocery Outlets Per Million Inhabitants

1.1

2.7 2.7

2.0 1.9 2.2

2.4 2.6 2.8 3.0 3.2 0.5

0.6 0.8

1.0 1.0

1.3

1.4 1.5

1.6 1.7

1.8

0.1

0.1 0.2

0.2 0.2

0.3

0.3

0.3

0.4

0.4

0.4

0.1 0.1

0.1 0.1

0.1

0.2

0.2

0.3

0.4

0.5

0.1

0.1

0.1

0.1

0

1

2

3

4

5

6

7

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Supermarkets & Neighborhood stores Drugstores Hypermarkets & Superstores Convenience stores Other

Source: Planet Retail

China Market Overview John Talbot

Today

• China Market Overview

• Program Overview

• Market Access

• Trade Stewardship

• Marketing

Rising Middle

Class

Urbanization

Consumerism

China Market Overview

Summary of Key Market Insights

World’s largest market for:

China Market Overview

Buick!

What’s the Best Selling Car in China?

Summary of Key Market Insights

Chinese have begun to consume healthier foods

• Dairy products have grown 128% in the last 5 years

• Yogurt up 137%

China Market Overview

Summary of Key Market Insights, Cont

• Nuts are top of mind for snacking

• Consumers like nuts and think they are healthy

• But, they are largely indistinguishable from each other

Mean Healthy Rating for Nuts (on a scale of 1–10)

U.S. China Global

Average

Walnuts 8.3 8.5 8.3

Almonds 8.7 8.1 8.0

Pine Nuts 7.8 8.2 8.0

Hazelnuts 7.6 8.3 7.7

Cashews 7.5 8.0 7.5

Pistachios 7.8 8.3 7.5

Brazil Nuts 7.5 7.8 7.3

Pecans 7.8 7.9 7.3

Macadamia Nuts 7.2 7.9 7.2

Peanuts 7.5 8.1 7.2

Mean Liking of Nuts (on a scale of 1–10)

U.S. China Global

Average

Almonds 8.3 8.1 8.1

Cashews 8.7 8.2 8.0

Walnuts 7.5 8.3 7.9

Peanuts 8.3 7.8 7.8

Pistachios 7.6 8.2 7.8

Hazelnuts 6.5 7.9 7.7

Macadamia Nuts 7.4 7.7 7.0

Pine Nuts 5.9 8.0 7.0

Pecans 7.8 7.5 6.9

Brazil Nuts 6.2 7.4 6.7

Source: Global Consumer Perceptions 2011, Sterling Rice Group

China Market Overview

Consumers: Highlights

Sound research and strategy drive our market development

1. Market Access and Trade Stewardship have been foundation of

market development efforts to date

2. Strategic research currently underway to launch renewed focus on

direct-to-consumer activities:

• Consumer segmentation study

• Need to educate consumers and differentiate vs. other nuts

China Market Overview

Program Overview

China Program Objectives & Approach

• Strengthen consumer awareness and acceptance of

almonds as a daily healthy snack

• Increase purchase intent among the trade

• Make almonds an essential ingredient in the categories that

drive the largest volume

Primary target:

Consumers

Daily, healthy snack program

Health Professional Influencers

Credible, media-friendly nutritionists and

researchers

Trade/Food Professionals

Lifestyle Influencers

Celebrity, Bloggers, Chefs

2

4

1

Collaboration on import

needs

• Multi-origin/government

support on food safety

New food safety

legislation

Industry-led; building on

government relationships

Market Access

Primary

focus: tariff,

phytosantary

issues

• Rollout, application

somewhat inconsistent

• Recognition of international

norms

Normalization of tariff rates,

import channels by leveraging

3

• Traditional government

negotiations

• Regional economic

development

• Health, CSR contributions

Trade Stewardship

1 2

3 4

Media Outreach

Trade Development • Trade seminars/workshops

Trade Shows

Food Science Student

Almond Innovation Competition

Opportunity:

• New and expanding manufacturing and processing companies create a

growing pool of potential almond buyers and users

• Food Ingredients China

Target:

Importers,

Wholesalers CPG

Manufacturers,

Retailers

Trade Stewardship:

Partnering with Industry

Objective:

• Share the opportunities California Almonds provide with a strong, stable

supply, great versatility, value-adding health benefits, and consumer demand

Program:

• Trade Workshops held in key tier 1 and 2 cities through the fall to excite

trade for the new buying season

• Welcomed visitors from Linan, Shanghai, Shenyang, Chengdu to California

Trade Stewardship

Food Professional

Trade Stewardship: Inspiring the Next Generation

Objective:

• Connect California Almonds to the Chinese food industry through the

education and practical training of China‟s food technologists of tomorrow

Program: Engage food science students in a competition for almond product

innovation which they present to food science professionals

Trade Stewardship: Inspiring the Next Generation

2 runner-up winners;

1 Grand Prize Winner: Almond Malt Cookies

Over 3,700 Students Reached

56 Universities Participated

809

Entries of Almond Product

Concepts

Almond Innovation Student Competition: The Results

Marketing: Target Audience

Current Target: Jing

• Women, age: 25-40

• Mid to upper income levels

• Professional, career-oriented

• Primary shopper

• Pursuing work-life balance

• Health & Beauty conscious

• Food quality conscious

1

2 4

5

Press Conferences

Media Partnerships –

TV & Print

Integrated Consumer/Media Events

Digital Marketing

Maximizing Marketing Impact: Surround Consumers with Message

Objective: Leverage a common theme of “Daily Healthy Snacking, Sharing”

through multiple vehicles with celebrity spokesperson to reach Jing

3

Retail promotions and advertising

Impressions from television made up two-thirds of coverage in FY10-11

Public Relations Mix

Total Impressions FY 10-11:

14.65 Billion

(an increase of 11% over FY 09-10)

Maximizing Marketing Impact:

Celebrity Spokesperson

• Program: Celebrity Spokesperson, Chinese movie actress Ms. Gao Yuan Yuan,

visited California Almond orchards during bloom; 5 TV episodes, 130 stories & 300

million impressions generated from the tour footage.

Maximizing Marketing Impact:

Celebrity Spokesperson

Maximizing Marketing Impact:

Retail Promotions

• Program: Highlight California Almonds at point of purchase during the popular

Chinese New Year buying season; reached over 10,000 retail outlets with generic

promotional materials

India Market Overview Sudarshan Mazumdar

Today

• India Market Overview

• Program Overview

• Market Access

• Trade Stewardship

• Marketing

India Market Overview

• India is a large, diverse and fragmented market

North

West East

22 languages1

South

Multiple religious and ethnic groups1

1,200 dialects1

Diverse Culture, Customs, Cuisine1

28 states1

New Delhi

Mumbai

• Population : 1.2bn (Growth Rate : 1.55%)2

• GDP currently at USD 1.73 trillion ** in 20103. Expected to grow at around 9% per annum over the next decade.

• Middle class to swell by 10x, from 12mn in 2005 to 128mn Households by 20254.

• Aggregate Household Consumption to explode 4 times, from INR 17 trillion in 2005 to INR 70 trillion by 20254 (2005 prices)

• Urban population to rise from 28% in FY2001 to 32.1% in FY20202

• FDI inflows stood at $219bn between 2001-aug 20115

Source : 1.Govt. Of India (india.gov.in), Article 345-Constitution Of India | 2. India Macro Economic Outlook 2020, Dunn & Bradstreet, issued in Sept 2011 | 3. World Bank

Development Indicators | 4. MGI India Consumer, Mckinsey, 2007 | 5. Department of Industrial Policy and Promotion (DIPP) |

**At current prices

When Indian consumers think of nuts, they think of almonds

• Highest Top of Mind awareness

• Close second in overall liking

• Considered the healthiest of all nuts

India Market Overview

Top of Mind

Awareness India

Global

Average

Walnuts 8% 25%

Peanuts 13% 21%

Almonds 31% 12%

Hazelnuts 2% 11%

Cashews 20% 7%

Pistachios 1% 3%

Macadamia Nuts 0% 3%

Pine Nuts 1% 2%

Brazil Nuts 0% 2%

Pecan 0% 1%

Chestnuts 1% 1%

Mean Liking of Nuts

(Scale of 1-10) India

Global

Average

Almonds 9.0 8.1

Cashews 9.1 8.0

Walnuts 8.1 7.9

Peanuts 8.2 7.8

Pistachios 8.0 7.8

Hazelnuts 7.0 7.7

Macadamia Nuts 6.1 7.0

Pine Nuts 6.4 7.0

Pecans 6.3 6.9

Brazil Nuts 6.4 6.7

Mean Healthy

Rating of Nuts

(Scale of 1-10)

India Global

Average

Walnuts 8.6 8.3

Almonds 9.2 8.0

Pine Nuts 7.5 8.0

Hazelnuts 7.8 7.7

Cashews 8.4 7.5

Pistachios 8.1 7.5

Brazil Nuts 7.1 7.3

Pecans 7.1 7.3

Macadamia

Nuts 7.0 7.2

Peanuts 8.1 7.2

Source: Global Consumer Perceptions 2011, Sterling Rice Group

Consumers: Highlights

Sound research and strategy drive our market development

2011 has been a year of research:

• Consumer target sizing exercise

• Focus groups for insights to build strategic direction in advertising

• Quantitative study to test strength of insights across a large sample

• Creative testing new advertisements

• Global Market Development Analysis

• Global Perceptions Study

India Market Overview

Program Overview

India Program Objectives

1. Increase frequency

of consumption

2. Increasing quantity

per instance of

consumption

3. Reduce seasonality

by expanding reasons

to purchase beyond

festivals

2

4

1

Collaboration on import

needs

• Multi-origin/government support

on food safety

• 3rd country trade agreements

Rollout of comprehensive

food safety legislation

Leveraging key

alliances in India and

the U.S.

Market Access

Primary

focus:

regulatory,

phytosantary

issues

• Information exchange

• Education of authorities

Application of standards,

import controls that are

inconsistent with almonds

3

• Generic vs specific almond

standard

• Fumigation parameters

Trade Stewardship

2 1

Trade Conferences Regular interaction • Share communication plan,

creative and media investment

plans

• Forum to discuss market access

issues

• Consultations with industry

members

• Informing them on progress

about market access issues

Target:

Importers/

Wholesalers

3

• Regular updates to trade on

advertising and PR activities

Trade Newsletter

• Women, age: 25-55, SEC A & B

• Live in urban regions of Northern or Western India

• 88% of target group are married women

• 86% of target group are housewives

• Buy dry fruits and nuts as part of everyday household purchase

Marketing: Target Audience

Source: TGI 2010

Marketing: Target Audience Sizing

India

885 Mn

Urban

282 Mn Rural

603 Mn

North

95 Mn

West

83 Mn

South

74 Mn

East

31 Mn

North + West

177 Mn

SEC AB

52 Mn

Women, 25-55

15 Mn

Source: TGI 2010

Maximizing Marketing Impact

2

4

1

On-going media relations

Advertising

Build contacts with

influencers

• Launched TV and print

advertising in fall 2010

• Continuing through FY

11-12

Press

Conferences/Interviews

3

• Leverage new nutrition

research findings and celebrity

endorsement

• Distribute topical press

releases

• Maintain communication with

top journalists/publications

• Utilize credible, media-friendly

spokespeople

• Several nutritionists already

identified

Public Relations Mix

Total Impressions Jan 2011 – Oct 2011:

133.6 Million

Total Stories Jan 2011 – Oct 2011:

382 stories

Maximizing Marketing Impact:

Diwali Campaign 2011

Television Advertising: • Three 10-second ads aired September-October 2011

• 71% of target audience reached @ 6+ frequency

• Targeted TV impressions – 170.6 million

• Every major general entertainment channel employed in the campaign (Colors, Zee, Sony, Star)

• Approx. 8,700 spots, over 6 weeks on 18 TV Channels

Print Advertising: • 5 print titles employed, including women magazines and print supplements in dailies

• Targeted print impressions – 4.34 million