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FM
Vi
AW
Team EuphoInstituShillon
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In!ustr" # $ompan" Anal"sis
%rimar" Surve"
Evaluation &' Alternatives
Mar(etin Strate"
)o*ust mar(etin an! *ran!in%lan
%ri+in an! %romotione+ision
Aen!a
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In!ustr" Anal"sis
Overview of Indian Bottled WaterIndustry
Estimated size of Rs 8000Cr in 2011-12 sal year wit! aC"#R of 18$
%resene of national and re&ional 'rands (ar)et om*rises of two se&ments+• Packaged drinking water + Water from any soure w!i! is
treated for onsum*tion• Natural Mineral water + ,rawn from a natural soure of water In t!e *a)a&ed drin)in& water se&ment maor 'rands
inlude Bisleri. "/uana. inley. nited Breweries and Cat! atural mineral water mar)et is wort! 183Cr 42005-106 wit!
C"#R 21$ 7imalayan. edia. "ava. (uls!i. Evian. %errier are )ey
*layers in a'ove se&ment (aor distri'ution !annels for 'ottled water inlude
inde*endent retailers. onveniene stores. su*ermar)ets 9out!ern India is t!e lar&est mar)et wit! a**ro:imately more
t!an ;0$ mar)et s!are
Overview of Indian Ener&y ,rin)sIndustry
Indian ener&y drin) mar)et in 100 Cr. Industry &rowt! rate +2;$ C"#R
(ulti-national *layers in t!e se&ment+ Coa-Cola 49!o).Burn6.%e*sio49o'e6. Red Bull. %ower!orse< =oal %layers+ #oldwin4Cloud 56. >(> &rou*4 9> ???6
2;0-ml 'ottle is *ried at Rs 3; 4*rie *oint6 @9tee* *rie*reventin& a wider onsumer 'aseA
2;m& of aeine in 2;0ml 2;$ of t!e (R% to 'e invested at retailers rom seondary survey re*orts it !as 'een o'served t!at 15-22
t!e maor fators *rom*tin& trial of new drin)s is taste and *eer
reommendation and in t!e &rou* 22-2D t!e main fatorsinlude om*osition and *rie as well
Cola sales !ave 'een *lummetin& due to risin& !ealt! issues
Overview of IndIndustry
lavored drin)s ma (aor *layers in t! "s !ealt! onsiou
want to avoid soda!illed refres!in& !
or t!ose w!o rav
sweeteners %a)a&in& !as a m
also t!e a**earan
W!at um'ers !ave to say
In!ustr" -ro.th
/ottle! .ater in!ustr" ro.th in In!ia
CAGR (2000-2016) :
18 %
Indian ruit >uie Industry
F!e mar)et is e:*eted to &row at G0$ %eo*le do not mind to ou&! a little more C!allen&e is t!e 'rand onsiousness t!at
wor)s in *i)in& t!e *rodut and for t!e
om*any wor)in& in mineral water se&mentt!e *roess and set-u* !as to 'e !an&edinurrin& a lot of initial ost
e" %la"ers in
Mar(et ,istri*u
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Com*any "nalysis
9WOF "nalysis
Strenths• "utomated H eient
manufaturin& Jrst of its )ind
*lant in India• se of =atest Fe!nolo&y J
Clean Room• =ower lo&istis osts owin& to
loational advanta&e• %a)a&in& variants . uni/ue
desi&n
Wea(nesses• Brand awareness and reall is
very low amon&st onsumers•
7i&!er manufaturin& and*rodution osts
• =a) of *rodut variants• =imited tar&et mar)et4Western
India6
&pportunities• Inreasin& awareness a'out
!ealt!• 7i&!er *ur!asin& *ower• Easy e:*osure to media and
international lifestyles• #rowt! of tourism and
!os*itality
Threats• Inreased om*etition from
rival 'rands li)e 7imalayan.edia. Kua. Evian. Cat!
• (any *rodut variants andsu'stitutes 'y om*etitors
%ro'lem 9tateme
e" Issues A.areness J "wareness a'out natural mineral
onsumers iversi+ation J easi'ility of diversiation '
*rodut variants Taret Sement ,eisions on tar&et se&me
retail of w!i! onstitute 10 $ s!are or 'ul) instonstitute ;0$ s!are
Mar(etin # %romotion =a) of ade/uate 'om*ared to ot!er domesti and &lo'al 'rands rreall and 'rand awareness
Sustaine! $ost Stru+tureA!vantaes
Manu'a+turin an!!istri*ution4
3 $ore $+ompet
# o a l s t o ' e
a o m * l i s ! e d
% r o d u t
= i f e y l e
9 t a & e
Bottled(ineralWater
lavored drin)andEner&ydrin)
$ompetitiveA!vantae
$onsumer
A.arenessiversi+ation
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W ! a t % e o * l e ! a v
e t o s a y
"ttri'ute
MeanImporta
n+e)atin
(ean%erforman
e Ratin&
%a)a&in& 3 8LGG
9ales%romotion
10 8L33
Faste 10 5L0M
7ealt! Kuotient 5 8L3D
utrientContent
10 MLD3
F!irstsatisfation
3 8L00
"orda'ility 10 8L00
9oial esteem D 8LD3
Frust 'uildin& 3 DL21
"vaila'ility M 8L00
Brand Reall 5 8LD;
ariety oered M DL;1
Innovation 3 ;LD2
%rie and Kuantity< GG$
Faste< MM$
9tatus 9ym'ol< G$
8ariety< 10$
"dvertisement< 5$
%arameters ratin
1G$
23$
GD$
1M$5$
Impa+t o' A!vertisin
7i&!est
7i&!
"vera&e
=ess
=east
81
MD
A.areness o' heath issues relate! to aerate! ! rin(s
oie Of Customer"nalysis
Sele+tion $riteria"void
Inventory
9ta'le,eman
d
Customers willin&
to *ay*remium
9ervieKualityat *arwit!
*rodut
%rodutat *arwit!
soialstrata
"eted'y
om*etitors !oie
Ne
s
10 12 8 5 5 3
o 2 0 M G G ; I n s t i t u t i o n a l
s u r v e y
4 % r e m i u m
9 e & m e n t 6
• F!emowit!
• F!arew!i*ro
• "dv
in t• F!e
resaeras
• er"avminreless
9u
• F!eminos*ar
• "t amis walso
• F!ewat*re
-en!er pre'eren+es
(ale emale
G0$
2;$
Aava *ran!
Source: Surve Results, Feedback from Mr Shiro of Aava Waters Ltd
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Mar(etin Strate" 'or !iversi+ation
9e&mentation
Far&etin& %ositionin&%rodut
/ase! onin+ome:• =ow inome
lass• (iddle
inome lass• **er middle
lass level• **er lass/ase! onAe:•
Noun& a&ed• (iddle a&ed• Old a&ed/ase! on Se:• (ale• emale/ase! onBi'est"le7ealt! itnessConsious.Out&oin&.Conservative.
Careless.
tourists/ase! on
eo ra h +
• "ll inome&rou*s
• Noun& a&edfemales in t!ea&e &rou*'etween 1;and G; yrs
• ,ietConsious .out&oin&. soial
• Fier 1 (etroCities
%ositioned asCaeine-free.alorie free andsu&ar freea**ealin& to dietonsious andout&oin& Hvariety lovin&youn& a&edfemales
lavoredmineralwaterAavaSpar(le
%ositioned as ainstant ener&ysoure wit!essentialar'o!ydratesand vitamins fort!e tnessonsious andsoially ativelass of *eo*le
Ener&y,rin)
Aava ACrush
• **er middle H**er lass
• Noun& and
(iddle "&ed420-;0 yrs6
• Bot! males Hfemales
• 7ealt!onsious.9oially ative
• Fier 1 Cities%ositioned on t!e!ealt! front tomeet t!e mineralre/uirements oft!e 'ody for!ealt! onsious
*remium lifestyleand /ualitysee)in& *eo*le
AavaNaturalMineralWater
• **er middle H**er lass
• "ll a&e &rou*s• Bot! males H
females• 7ealt! H tness
onsious• Fier 1 Cities
)etail or /ul( .ater e+ision
=ar&e sustained salesvolume
=on& term relations wit!lients
7u&e *otential due to manyunta**ed institutional
se&mentsCom*eteny in 'ul)
dealin&s as ;0$ revenueomes t!rou&! t!is !annel
Relatively lower mar&insand servie orientation
Fou&! to maintain on-timedelivery and distri'ution 2
a t u r a
l ( i n e r a l W a t e r
C l a v o r e d ( i n e r a l
W a t e r a n d
E n e r & y , r i n ) s
olume sales in lon& term*ers*etive
Bein& ew entrant diultto fet! 'ul) 'uyers=ower mar&in in t!e
introdutory sta&e may 'ediult to aord
F!ese items *referred insmaller *a)a&es
Inferene+• "s institutional se&ment !as a &reater ed&e ov
mineral water. om*any must sti) to its urrent t!is *rodut ty*eL
• or t!e laun! of two *rodut variants iLeL Pavoredom*any must fous on retail se&ment as it wo&rowt! t!an t!e institutional se&ment
B u l ) 9 a l e s
R e
t a i l 9 a l e s
R e t a i l 9 a l e s
B u l ) 9 a
l e s
r o u
a n
s r
u o n
9 t r a t e & y
;
% i i $ h i '
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"ava (ineral Water "ava "-Rus!
• %reform Q 1L80• Eletri and la'or Q
0LD0• Corru&ated 'o: Q
0L80• Frans*ortation ost Q
0L1;• Freatment ost Q0L10• 9ellin& and mar)etin&
e:*ense Q 0LGG
• Ot!er osts aresimilar to "avamineral water *lusan additional ost ofaddin& newin&redients
• In&redients +#uarana. #luose.Caeine
• Ideally (R% s!ould'e 'etween RsL3; toRsL50
Mar(etin an! %romotion
%a+(ain• ew 'ottles to inlude less *lasti. smaller'ottle a*s. more renewa'le materials li)e*lant 'ers
• F!e 'ottles *rodued will 'e li&!ter andwill redue trans*ortation ost and ener&yuse
• #reener *a)a&in& an send a stron&messa&e a'out a om*anys ommitmentto sustaina'ility t!at an en!ane its 'randa**eal and 'ein& t!e rst om*any inIndia to ta)e t!is initiative "ava will ometo limeli&!t and !ene. t!is is an easier*at! to &et !i&!er awareness for t!e 'randaross t!e nation
Sueste! Ss 'or the pro!u+t lines:Ener&y ,rin)+ 2;0ml *a)s.;00 mllavored ,rin) for emale se ment+2;0ml
• %lae of %romotion+ %osters and standees an 'e *ut u* at!i&!-foot fall areas of our *remium tar&et li)e "ir*ortwaitin& areas. tness !ains. 9*as s)in linis .olle&e!an&-outs etL
• FC + " soial am*ai&n *romotin& t!e 'rand """ wit!&reen *a)a&in& initiative
• Feasers + or *rodut laun! .teasers on ews *a*er ininnovative ways to &et !i&! 'rand-reall
• "dvertisements in !ealt!. travel. 'usiness and 'eautyma&azines
"ava atural (ineral Water"*art from t!e e:istin& lients. use e:tensive sales fore toolla'orate wit! tness enters. s*as and s)in linis.eduational institutions H or*orates•
"ava "-rus! Ener&y ,rin)ree sam*lin& t!rou&! !i&! *role *arties. olle&e anteens.!i&! end lu's and &ymnasiums to inPuene ustomer*ur!ase• "ava 9*ar)le
Frial an 'e distri'uted at 'eauty linis. )aya s)in linis.!otel )itty *arties
• "ava la)s t!e we' *resene t!at many of its om*etitorsenoy
• We'site ould inlude more *itures and videos to eduateand inPuene onsumer !oie
• (ore informative H interative soial media *resene<fae'oo). twitter and youtu'e an 'e used to *romote t!e"ava 'rand on a *an India sale
• %ersonalized mails a'out t!e &reen initiatives of "ava to*rominent o*inion leaders of India so t!at t!ey a**reiatet!e "ava 'rand and !el* s*read awareness a'out our
initiatives
%ri+in$an +hare premium 'or .ahuman han!sG4
%romotionalme!ia
Mar(etin
epense
F "dvertisement M;$
We'site9oial(edia
"dvertisementM$
ews*a*ers(a&azines
G;$
%oint of salesmar)etin&49*ar)le"-rus!6
8$
Cost ofu* a*Q 0LG2Cost ofla'el Q
0LM0
Cost of'ottle Q
1L;0
Cost ofu* a*Q 0L2;
Cost ofla'el Q
0LM0
Cost of'ottle Q
1L;0
%romotion Bud&et"lloation Timeline # -antt $hart
Refer "**endi: I for detailed timeline H #antt
r
n & a n
r o m o
o n
9 t r a t e & y
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Ro'ust mar)etin& %lan- or t!e new *rodut laun!
"ntii*ation
(ar)etin&-9us*ense
"ntii*ation(ar)etin&-
9us*ense"ds
Reveal t!e*rodutL "lso Fest
(ar)et t!e%rodut
Evaluation ofConsumer res*onse
ma)e re/uired!an&es
=aun! in 12 ities
"&&ressivromotio
Wee( 1 Wee( 2C3 Wee( =C Wee( 8 Wee( ;C<
""" (ineral Water• F!e o'etive is
mar)et *enetration• F!e tar&et is to
im*rove 'ul) saleswit! more and moreelite institutional tie-u*s
• Fo develo* stron&'randin& 'y*romotin& &reen*a)a&in& in
a**ro*riate eventsand amon& o*inionleaders
""" 9*ar)le H """ "-Rus!
%re-=aun!• Buildin& antii*ation - sus*ense
ads on F. news*a*ers. radio•
Communiate antii*ation ta&lineW!o new IFS an 'e *in)T
• %romote t!e /ualities of t!e *rodutas aeine free. alorie freeH su&arfree
%re-=aun!• Buildin& antii*ation - sus*ense
ads on F• Communiate t!e *rodut as Nou
need t!is transformationS• %romote t!e *rodut as a refres!in&
drin) wit! t!e &ood ness of mineralwater
%ost-=aun!• Fa**in& ustomer tou! *oints
li)e 'eauty linis. olle&eanteens. oee s!o*s t!rou&!*osters
• Retail *oints- %lae si&n 'oards instores w!ere *rodut is availa'leH w!ere it will 'e laun!ed soon
• We'site H soial media u*dates
•
•
•
%ost-=aun!• %lae *osters and si&n 'oards at
various outlets of *!ysialativity enters su! as &yms.dane lu's. etL
• "dditionally. tie-u*s an 'e
made wit! s*orts enters andrereational failities to *romote"-Rus!
•
•
•
"
- R u s !
9 * a r )
l e
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W!at Is in it for youTT
• Increased payment period of 20 dof 2% for early payment ( within
• ake !ack unsold and outdatedagainst defecti"e merchandi#e
• $igh margins of 2%&depends onfor supermarkets&20% for hyper a
• ieups with tnessclinic chains• *ocused promotions and use of IM• Planned consignment method to
launch
Our %ro*os
Who are"ou#
"n undis*uted ener&y drin)s 'rand wit! a**ro*riate'alane of aeine
F!e &oodness of natural minerals in &reen *a)a&in&.
*rovides a ause wort! su**ortin&. !y&ieni untou!ed'y !uman !ands
ot too many *reservatives t!at may destroy t!eessene of natureL
Beause our tar&et li)es to )ee* it *remium. meetin&!i&! standards. t!at !e an assoiate wit!!imself!erself
Whyyour
$roduct#
ShortShelflife
Why so $ri%ed#
)etailer &ur)epresentativ
e
)etailer &ur
)epresentativeWho are
"ou#" non-ar'onated drin) e:lusively for women t!at suitst!e way t!ey li)e t!eir drin)s to 'e
Whyyour
$roduct#
F!e *rodut is su&ar-free. aeine free and alorie freeand refres!in&ly fres!
ShortShelflife
ot too many *reservatives t!at may destroy t!eessene of natureL
Why so $ri%ed#
Beause our tar&et li)es to )ee* it 'eautiful andso*!istiated. t!at s!e an assoiate wit! t!e softer side
of !er *ersonality
• Brand ae*tane•
%rie not aorda'le in ase ofPavored• F!is is not yet time for t!e e:it
ar'onated drin)s• F!e assoiated esteem value
needed to 'e atta!ed to t!e*rodut not a!ieved
• F# for ener&y drin)s wantsstron&er 'randin&
• F!e taste does not wor)•
F!e unsweetened formula doenot wor) or is not a'le to rea
Ris)
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"%%E,I? I FI(E=IE 4#"FF C7"RF6
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"%%E,I? I + FI(E=IE 4#"FF C7"RF6
"ssum*tion+ start date is !osen as 1st e'ruary. 201G
"%%E,I? II
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Imae %opularit" A6or!a*ilit" 7ealth
lavored drin)in&water
%ereived as a tastysu'stitute for *lain
drin)in& water and as a!ealt!y su'stitute for
aerated drin)s
It is a new setor wit!int!e 'ottled water industryand is still at its infanysta&eL 9o its less )nownamon& t!e onsumers
9ine t!e *rodut would'e *ried at a sli&!tly
!i&!er *rie t!an *uriedwater. t!e onsumer
would 'e willin& to *ay a*remium for t!e taste
It is a mu! !ealt!iero*tion t!an soft drin)sw!i! ontains !u&e
amounts of ar'on dio:ide
ruit >uies
%ereived as a su'stitutefor un!ealt!y ar'onated
drin)sL Noun&er onsumersre&ards fruit uie as a
onvenient way of'oastin& t!eir
onsum*tion of fruits andve&eta'lesL
ruit uies in t!e
unor&anized se&ment areonsidered !ea*er andfres!er 'y t!e onsumer.
even t!ou&! t!ey arerelatively un!y&ieniL
It is onsidered to 'e a
!i&! *ried *rodut sineonsumers om*are t!e
*rie of t!e *rodut to t!atof fres!ly made uies
w!i! are mu! !ea*er
ery few ustomers are
onvined a'out *a)a&ed uie 'ein& *reservative
free. and. t!erefore as!ealt!y as fres!ly
s/ueezed uie
"erated drin)s
(aority of t!e onsumersonsider aerated drin)s to
'e un!ealt!y and toomu! onsum*tion may
lead to !ealt! issues
Its is &enerally t!e rst!oie of onsumers w!en
it omes to seletin& adrin) amon& non alo!oli
'evera&es
It is an avera&e *ried*rodut wit! maor 'randsaterin& to t!e middle and
u**er middle lassw!ereas t!e loal 'randsater to t!e low inome
se&ments
%rovide zero nutrients.ar'on dio:ide onsumed
may 'e is onsidered!armfulL
(ineral 9odaConsidered a ready 'ase
for refres!in& drin)s
%o*ularity is t!ere in allt!e inome levels ofonsumers as it an 'eused to ma)e *remium
o)tails at t!e same timeas naUve as fres! lime
"orda'ility de*ends ont!e 'rand w!i! laun!esit and t!e *riin& is
&enerally done as *er t!ese&ment to w!i! it is
*ereived to ater
F!is assures of someessential mineral ontent
if *ositioned su!
Ener&y,rin)s9*orts ,rin)s
It is onsidered an e:at'alane of ener&y and!ealt!L It also ats as astatus sym'ol amon&
youn&sters
It is *o*ular drin) amon&youn&sters es*eiallyamon& students and
s*orts*ersons
It is a !i&! *ried *rodut.w!ose *remium an only'e *aid 'y t!e elite lass
Noun& !eat! onsiousonsumers onsiderener&y drin)s as a
su'stitute to aerated drin)
atural (ineral
Water
It is assoiate mineral
water as 'ein& *ure andfull of nutrition
F!ou&! it is well )nownamon& maority of t!e
onsumer se&ments. it ismore *o*ular amon& t!eelite soial lass
F!is *rodut is e:lusivelytar&eted towards t!e
*remium se&ment mainlyinstitutional onsumers
9ine t!e water is diretlyo'tained from t!e soure.
onsumers onsider it to'e nutritious and !ealt!y
M
3
3
D
;
M
M
;
D
3
3
8
G
M
D
D
3
D
D
D
3
3
8
G
M
8
D
"%%E,I? II
"%%E,I? III
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Si5e o' Taret Sements Ease o' Entr" Internal )ivalr"
Flavore! .ater
Me!ium sine t!is *rodut lineis in nasent sta&e and is a!ealt!ier o*tion to swit! fromt!e *resent drin)s on t!e s!elfL9ine t!ey
7ih sine t!ere are !ardly any*layers in t!e mar)et and t!ere is!u&e *otential in t!e mar)et fort!e *rodut
Bo. t!ere are not many *layersin t!is se&ments as it is in itsnasent sta&e
7ihwit! in Ind
Fruit ?ui+es
7ih sine even )ids aretar&eted and demo&ra*!is
!an&in& wit! risin& !ealt!onsiousness
Bo. 'eause new manufaturin&*roess !as to 'e set u* ri&!t fromt!e *rourement of fres! fruits to
t!e lost lastin& *a)a&in& of t!e*rodut
7ih sine many *layers !aveidentied t!e &rowin& demand
for fruit drin)s and &rowin& *ieof *otential 'uyers
Me!'een'uye
'er t!ere
Aerate! !rin(sVer" hih sine t!ese drin)s!ave 'een em'edded in t!e*resent lifestyle of t!e ountry
Ver" lo. 'eause t!e mar)et isattainin& saturation level and t!ese&ment is already saturated wit!*layers w!o are well esta'lis!ed
7ih sine many (Cs !avealready esta'lis!ed very &ooddistri'ution networ) and t!eyare stron& w!en t!eir 'rand*resene is onsidered
7ihdier!ealt
Mineral So!a
Bo. sine t!is is used 'y limitedend-users for s*ei *ur*osesand over and a'ove t!e mineralontent need for soda is not t!atessential
Bo. sine t!e diversifyin& intosoda. t!e *roess !as to 'e!an&ed and more over7i&! reall is needed to 'rea)t!rou&! t!e lutter
7ih sine many 'rands 'ot! in'ottled mineral water. and li/uorse&ment4su'liminaladvertisement6 !ave laun!edsoda
Bo.'e suare mfor m
Ener" rin(sHSports rin(s
Me!ium sine t!ese drin)s areostly and assoiated wit!youn& and middle a&e ate&oryw!o slo& at t!is sta&e of t!eirareers
7ih sine t!ere are few *layers int!e ener&y drin)s setor w!i!ater to t!e *remium se&ment
7ih sine t!ou&! t!e tar&et&rou* size is less. 'i& *layers!ave set t!eir stones rollin&
7iht!e *t!at
Natural Mineral Water
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Is "ava willin& to &ofor su'-'randin& orwould you *refer tolaun! a new *rodutline under t!e 'randname of "avaT
In t!e ase it is mentionedt!at t!ere isunderutilization ofresouresL Is t!ere anys*ei reason for t!isT
Would "ava !an&e itsmanufaturin& *roessli)e t!e material usedfor 'ottle *a)a&in& inorder to *romote itselfas 'ein& eo friendlyT
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nder utilization of
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Referenes"%%E,I? + EE,B"C ", REERECE9
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http://www.business-standard.com/india/news/fruit-flavoured-waterbisleri-to-hit-markets-soon/91595/onhttp://www.business-standard.com/india/news/fruit-flavoured-waterbisleri-to-hit-markets-soon/91595/onhttp://www.business-standard.com/india/news/fruit-flavoured-waterbisleri-to-hit-markets-soon/91595/onhttp://www.aavawater.com/Image/broch.pdfhttp://news.webindia123.com/news/articles/India/20110325/1715869.htmlhttp://www.tradersinn.co.in/about_aava.htmlhttp://dnasyndication.com/dna/article/DNAHM41885http://articles.economictimes.indiatimes.com/2009-11-10/news/27648747_1_behram-mehta-sheelpe-enterprises-stake-sale-dealhttp://articles.economictimes.indiatimes.com/2009-11-10/news/27648747_1_behram-mehta-sheelpe-enterprises-stake-sale-dealhttp://articles.economictimes.indiatimes.com/2009-11-10/news/27648747_1_behram-mehta-sheelpe-enterprises-stake-sale-dealhttp://www.datamonitor.com/http://www.ikonmarket.com/natural_mineral_water_market_india.htmlhttp://www.gits4u.com/water/water16.htmhttp://www.gits4u.com/water/water16.htmhttp://www.ikonmarket.com/natural_mineral_water_market_india.htmlhttp://www.ikonmarket.com/natural_mineral_water_market_india.htmlhttp://www.datamonitor.com/http://articles.economictimes.indiatimes.com/2009-11-10/news/27648747_1_behram-mehta-sheelpe-enterprises-stake-sale-dealhttp://articles.economictimes.indiatimes.com/2009-11-10/news/27648747_1_behram-mehta-sheelpe-enterprises-stake-sale-dealhttp://articles.economictimes.indiatimes.com/2009-11-10/news/27648747_1_behram-mehta-sheelpe-enterprises-stake-sale-dealhttp://dnasyndication.com/dna/article/DNAHM41885http://dnasyndication.com/dna/article/DNAHM41885http://www.tradersinn.co.in/about_aava.htmlhttp://www.tradersinn.co.in/about_aava.htmlhttp://news.webindia123.com/news/articles/India/20110325/1715869.htmlhttp://news.webindia123.com/news/articles/India/20110325/1715869.htmlhttp://www.aavawater.com/Image/broch.pdfhttp://www.aavawater.com/Image/broch.pdfhttp://www.business-standard.com/india/news/fruit-flavoured-waterbisleri-to-hit-markets-soon/91595/onhttp://www.business-standard.com/india/news/fruit-flavoured-waterbisleri-to-hit-markets-soon/91595/onhttp://www.business-standard.com/india/news/fruit-flavoured-waterbisleri-to-hit-markets-soon/91595/on