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COMPARATIVE ANALYSIS OF BRITANNIA VS. SUNFEAST
Semester Project / Dissertation Topic submitted in partial fulfillment for the award of
Master in Business Administration
2012-13
BY
ASHUTOSH KUMAR
MBA,II
ND SEM
Roll No-1200122018
Under the guidance of
Dr. YASIR ARAFAT ELAHI
(Asst. PROF.)
DEPARTMENT OF BUSINESS MANAGEMENT
INTEGRAL UNIVERSITY
Integral University, Lucknow
Dasauli, Kursi Road Lucknow - 226026
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DECLARATION
I declare that the project entitled COMPARATIVE ANALYSIS OF BRITANNIA VS.
SUNFEAST under the guidance of Dr. YASIR ARAFAT ELAHI (ASST. PROF.), Integral
University submitted in partial fulfillment of the requirement for the award of the degree of
Master of Business Administration to Integral University, Lucknow is my original workcarried
out and not submitted for the award of any other degree, diploma, fellowship or other similar or
prize to any other institute, organization or university by any other person.
ASHUTOSH KUMAR
MBA,IIND SEM
Roll No-1200122018
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ACKNOWLEDGEMENT
I am thankful to Dr. YASIR ARAFAT ELAHI (ASST. PROF.), Integral University for his valuable
inspiration and guidance provided me throughout the course of this project. He has patience and critically
gone through the subject matter.
I would like to take opportunity to express my gratitude towards all of them who have contributed directly
or indirectly in my project work.
At last I would like to extend my deep sense of gratitude to my friends, colleagues and each individual
who directly or indirectly help me during the project work.
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EXECUTIVE SUMMARY
As learning is a human activity and is as natural, as breathing. Despite of the fact that learning is
all pervasive in our lives, psychologists do not agree on how learning takes place. How
individuals learn is a matter of interest to marketers. They make aware to the customer about
their product, quality, benefits and promotional activities. They want to teach retailers in their
roles as their roles as consumers. They want retailers to learn about their products, product
attributes, potential consumers benefit, how to use, maintain or even dispose of the product
and new ways of behaving that will satisfy not only the consumers needs, but the
marketer s objectives.
The scope of my study restricts itself to the analysis of customer and retailer preferences,
perception and consumption of ITC Sunfeast biscuit. Ther e are many other brands of biscuit
available but my study is limited to three major players of biscuit leaving behind the
others.The scope of my study is also restricts itself to patna region only.
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TABLE OF CONTENT
Cover Page
Acknowledgement
Executive Summary
Index
Chapter - I : Conceptual Description of topic
Chapter - II : Brief Profile of the Company
Chapter - III : Research Methodology
In Case of Primary data Collection and Secondary Data Analysis
i. Objective
ii. Research Design
Chapter - IV : Analysis and Interpretation of Data
Chapter - V : Findings, Conclusion and Suggestions
Bibliography
Annexures
Questionnaire
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Chapter - I
Conceptual Description of topic
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INTRODUCTION
ITC reported sales of Rs34.6b in 3QFY08 as against our estimates of Rs35.8b, while PAT was
Rs8.3b as against our estimates of Rs7.97b. Other income increased from Rs698m to Rs1,374m,
led by higher yield on treasury investments
in debt instruments.
Cigarette volumes de-grew 1% YoY, which was better than our estimates of a 2% decline in
growth. Cigarette business gross sales grew 7.6% and PBIT grew 16% as margins expanded
190bp. We are reducing FY08 volume de-growth estimates from 3% to 2%, which indicates flat
volumes in 4QFY08. Imposition of VAT in UP will reduce state tax on cigarettes from 33% to
12.5%, which will boost the profitability from 4QFY08.
Paper & Paperboards reported 11.2% increase in sales and 13.6% increase in PBIT as margins
expanded 40bp. ITC is commissioning 1,20,000tpa pulp capacity in 4QFY08, 1,00000tpa writing
and paper facility in 1QFY09 and 90,000tpa paperboard capacity in 2QFY09. Pulp plant will
increase margins as production cost is expected to be 30-35% lower than the imported hard wood
pulp prices.
New FMCG accelerated sales growth to 50% while PBIT losses increased 38.7%. It reported a
turnaround excluding Bingo, personal care and apparels business. Foods grew 60% as Bingoattained over 16% market share in major metros while Sunfeast biscuits increased market share
to 11.8%. Personal care products under Fiama Di Wills and Superia brands received good initial
response.
We have increased other income estimates from Rs4.8b to Rs5.4b. We are increasing FY08,
FY09 and FY10 EPS estimates to Rs8.3, Rs9.8 and Rs11.5 from Rs8.2, Rs9.5 and Rs11.4
respectively. The stock trades at 19x FY10E earnings. Maintain Buy with SOTP-based target
price of Rs242, a 14% upside.
CigarettesVAT imposition impact still unclear
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Cigarette volumes de-grew 1% as against our estimate of a 2% decline in growth. Cigarette
business reported 11.4% increase in net sales and 16.0% increase in PBIT as PBIT margins
expanded 190bp. Just 1% decline in the cigarette volumes shows consumer resilience in a
booming economy, despitemore than 20% price increase. Volume de-growthhas been mainly
confined to lower priced non filter segments. We estimate that cigarette volumes have declined
2.7%for 9mFY08. Weare reducing FY08 volume de-growth estimates from 3% to 2%, which
indicates flat volumes during 4QFY08. Our FY09 volume growth estimate remain sunchanged
at 5%. The management has ruled out decline in cigarette volumes post implementation of the
same(pending before group of ministers). Implementation of VAT in UP with effect from Jan 1,
2008 and concurrent withdrawal of trade tax in the state is a positive development. This will
reduce the state tax from 33% to 12.5% and boost the profit margins of ITC in the coming
quarter.
Other FMCG businesstopline growth accelerates; partial turnaround achieved
Processed foods growth accelerates: Other FMCG businesses posted strong growth of 50% YoY
during 3QFY08. PBIT margin during the current quarter was -9.8%, 80bp improvement on YoY
basis. Branded packaged food business continued to expand rapidly with sale growth
of 60%. Other categories in the FMCG business continue to post strong growth with biscuits
growing by 58%, atta by 39% and confectionary by 38%. ITC has achieved a
16% market share in high growth salty snacks segment with its Bingo range of potato chips
while Sunfeast biscuits increased its market share to 11.8%. Bingo is likely toemerge as a major
growth driver as it is yet to be rolled outin 50% of the target markets. Aashirvaad Attas new
product variant Aashirvaad MP Chakki Atta has got good consumer response and has been
extended to target
markets. ITC has emerged as a market leader in thissegment as per AC Nielsen data for July-Sep
2007. Readyto Eat food under the brand Kitchens of India grew 63%during the quarter due to
higher volumes of instant mixes and pasta.
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Lifestyle retailing: Sales during the quarter grew by over 26% YoY. All the major lifestyle
brands like Classic, Wills Sport and Wills Clublife maintained growth momentum driven
by consumer franchisee expansions. During the quarter, the company added two more stores,taking the retail footprint to 44 Wills Lifestyle stores, complemented by an expanded network
of John Players exclusive brand outlets and increased presence at reputed large format stores
and multi-brand outlets. Lifestyle retailing is the only segment among the earlier FMCG
businesses which is still in the red. We believe that turnaround is still a couple of years away.
ITC enters personal care
ITC expanded the premium offering in personal care with the launch of Fiama Di Wills
Polishing Drops (conditioner) and toilet soaps. Earlier launches of four variants ofshampoos and
three variants of body washes have reported encouraging response. Superia brand of toilet soaps
and shampoos, which target the mass market segment, have gained acceptance from consumers
and is now extended to four states. The management has indicated at further extension of product
range in the coming quarter
primarily driven by 12-15% increase in ARR (average revenue per room) coupled with betterperformance of food and beverages. The management has indicated that while Kolkata and
Mumbai markets are strong, Bangalore is showing some softening of ARR. Occupancy levels
during the quarter declined 1% due to renovation of the premium Towers Block at ITC Maurya,
New Delhi. The work on new properties in Bangalore and Chennai is on track and Bangalore
property is likely to start in FY09. The management has indicated a 10-12% increase in ARR in
the coming quarters. We expect this business to report steady growth up to 12-15% in the
coming quarters.
Paperboards and Paper: All set to change gears
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The paper business reported an 11.2% increase in sales and 13.6% increase in PBIT as margins
improved by 40bp.This was driven by a 14% improvement in volumes of value
added portfolio of paper and paperboards coupled with robust performance of packaging
business. The new 1,20,000tpa pulp mill project is nearing completion and is slated forcommissioning in the last quarter of this fiscal. This will remove the need to import hard wood
pulp for ITC. In-house production of pulp is expected to be 30-35% cheaper,which will boost the
profit margin of the company.
Agri business topline drops; margins expand
Agri business continued to reported decline in sales on account of restriction imposed by thegovernment on export of non-basmati rice. Sales declined 9.4% while PBIT increased by 28.1%
driven by robust growth in export of leaf tobacco. Cigarette leaf tobacco exports grew 37%
during the Quarter. The management indicated that it has successfully renegotiated pricing of its
export orders to offset the impact of appreciating rupee.
The rural distribution initiative made good progress, nearly doubling the channel throughput. On
the rural retail front, 21 Choupal Saagars are now operational in the three states of Madhya
Pradesh, Maharashtra and Uttar Pradesh while seven more are expected to be commissioned in
coming few months. Pilot project for retailing fresh fruits and vegetables is moving smoothly.
Three Choupal Fresh Cash & Carry Stores and six Choupal Fresh retail stores are currently
operational at Hyderabad, Pune and Chandigarh. The company has set up a comprehensive
supply chain for ensuring the availability of fresh products in the market, besides establishing
direct linkages with the
farmers for sourcing farm fresh produce. We expect the company to start scaling up the initiative
only after achieving critical benchmarks in the pilot projects.
Hotels: Steady growth continues
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Hotels business reported 11.4% increase in top line in 3QFY08 and 16.3% increase in PBIT.
Sales growth was The company would commission 1, 00,000tpa writing and printing paper
capacity in 1QFY09 and 90,000tpa paper board capacity in 2QFY09. Paper unit will drive
growth based on strong forward linkages with the stationery business. We expect this SBU to
report acceleration in sales and profit growth from FY09 as new units start contributing.
Valuation and view
We believe that ITC is growing from strength to strength. Cigarette volumes have shown
considerable resilience and are expected to bounce back in FY09, except in case of sharp excise
increase. Around 40-45% increase in paper capacity and new hotel properties in Bangalore will
start contributing from FY09. We expect that new FMCG will report complete turnaround in
FY10 only due to expenses related to new launches. We have increased other income estimatesfrom Rs4.8b to Rs5.4b. We are increasing FY08, FY09 and FY10 EPS estimates to Rs8.3, Rs9.8
and 11.5 from Rs8.2, Rs9.5 and Rs11.4 respectively. The stock trades at 19x FY10E earnings.
Maintain Buy with SOTP-based target price of Rs242, a 14% upside.
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CHAPTER- 2
ORGANIZATION PROFILE
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ITC PROFILE
ITC is one of India's foremost private sector companies with a market capitalization of nearly
US $ 18 billion and a turnover of over US $ 5.1 Billion. ITC is rated among the World's Best
Big Companies, Asia's 'Feb. 50' and the World's Most Reputable Companies by Forbes
magazine, among India's Most Respected Companies by Business World and among India's
Most Valuable Companies by Business Today. ITC also ranks among India's top 10 `Most
Valuable (Company) Brands', in a study conducted by Brand Finance and published by the
Economic Times.
ITC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty
Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Information
Technology, Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCG
products. While ITC is an outstanding market leader in its traditional businesses of
Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports, it is rapidly gaining market share
even in its nascent businesses of Packaged Foods & Confectionery, Branded Apparel, Personal
Care and Stationery.
As one of India's most valuable and respected corporations, ITC is widely perceived to be
dedicatedly nation-oriented. Chairman Y C Deveshwar calls this source of inspiration "a
commitment beyond the market". In his own words. "ITC believes that its aspiration to create
enduring value for the nation provides the motive force to sustain growing
shareholder value. ITC practices this philosophy by not only driving each of its
businesses towards international competitiveness but by also consciously contributing to
enhancing the competitiveness of the larger value chain of which it is a part."
ITC's diversified status originates from its corporate strategy aimed at creating multiple drivers
of growth anchored on its time-tested core competencies: unmatched distribution reach, superior
brand-building capabilities, effective supply chain management and acknowledged service skills
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in hotel kiering. Over time, the strategic forays into new businesses are expected to garner a
significant share of these emerging high-growth markets in India.
ITC's Agri-Business is one of India's largest exporters of agricultural products. ITC is one of the
country's biggest foreign exchange earners (US $ 3.2 billion in the last decade). The Company's'e-Choupal' initiative is enabling Indian agriculture significantly enhance its competitiveness by
empowering Indian farmers through the power of the Internet. This transformational strategy,
which has already become the subject matter of a case study at Harvard Business School, is
expected to progressively create for ITC a
huge rural distribution infrastructure, significantly enhancing the Company's marketing reach.
ITC's wholly owned Information Technology subsidiary, ITC InfoTech India Limited, isaggressively pursuing emerging opportunities in providing end-to-end IT solutions, including e-
enabled services and business process outsourcing.
ITC's production facilities and hotels have won numerous national and international awards for
quality, productivity, safety and environment management systems. ITC was the first company
in India to voluntarily seek a corporate governance rating.
ITC employs over 25,000 people at more than 60 locations across India. The Companycontinuously endeavors to enhance its wealth generating capabilities in a globalizing
environment to consistently reward more than 3, 68,000 shareholders, fulfill the aspirations of its
stakeholders and meet societal expectations. This over-arching vision of the company is
expressively captured in its corporate positioning statement: "Enduring Value. For the nation.
For the Shareholder."
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Company History - ITC
1910
- On 24th August the Company was incorporated as a Private Limited Company under th
name, Imperial Tobacco Co. of India Ltd. The Company manufactures and distributes cigarett
and smoking tobaccos and specialty papers including cigarette tissue papers (Sole manufactur
in the country).
1953
- The Company acquired the manufacturing business of Tobacco Manufacturers (India) Ltd
and the Complementary Lithographic Printing business of Printers (India) Ltd.
1954
- The Company was converted into a Public Limited Company on 27th October.
1970
- The name of the Company was changed from the Imperial Tobacco Co of India Ltd., to Ind
Tobacco Co. Ltd., in May.
1972
- On October Company entered into hotel business.
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1973
- Company received the approval of Govt. for setting up three Processing plants.
1974
- On 1st April name again changed to I T C Ltd.
1975
- ITC Ltd Purchased the net asset in India of India Leaf Tobacco Development Co. Ltd.(UK).
1979
The name of the Company's chain of hotels was changed from Welcome Hotels to Welko
group. The company entered into a Marketing Service and Reservations Agreement with th
Sheraton International Incorporated which was sanctioned by Govt. on 27th January.
1983
- A new Company under the name Gujarat Hotels was incorporated under a joint ventur
agreement signed between the Company and Gujarat Industrial Investment Corporation. Th
Co. had set up a 144-room hotel at Vadodara known as Welcome group Vadodara.
1987
- New brands viz., Wills Flake Premium Filter and Scissors Filter were introduced. Long-ter
agreements were entered into with the unions of factories located at Calcutta, Saharanpur an
Munger. In Bangalore, however, working was affected by a strike for 114 days.
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1988
- In May the company formed a new division called Agribusiness Division for carrying o
research and development on production and distribution of high yielding cultivars wi
emphasis on oil seeds, marketing of edible oils in bulk and consumer packs and
Export of agricultural produce.
- A Memorandum of Understanding was signed with the authoritiesto open an Indian restaura
in Odessa, U.S.S.R.
- Different varieties of oilseeds under the brand name of ADARSH and cooking oil und
SUNDROP were launched.
- New investments were made in water and bulk liquid packaging project. The Compan
explored the possibility of setting up a new software development centre in India with ability t
access Company's customers' computers abroad through data communication Links.
- A major part of the business of India Leaf Tobacco Development Co. Ltd., (U.K.) (ILTD
consisted of its operations in India where it operated as a sister concern of the Company. ILT
was a pioneer in introducing Virginia tobacco to India and over the year, developed into a high
efficient enterprise, besides being a very large exporter of tobacco. The Company purchase
with effect from 1st April, 1975, the net assets in India of I LTD whereupon it became a divisio
of the Company.
1990
- Refined mustard oil under the brand name REAL GOLD was Introduced in the market.
- On 1st April Tribeni Tissues Ltd was amalgamated with the Co.
1992
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- Since January there was labour unrest at Tribeni Tissues peppermill which led to a lockout
the mill with effect from 27thMay.
- On 8th April, ITC Global Holdings Pte. Ltd was incorporated in Singapore a wholly owne
trading subsidiary of the Company.
- During the same period a wholly owned subsidiary ITC InfoTech Ltd. Incorporated in U
with an authorised capital of US $ 2million and paid up capital of US lakh.
1993
- The Company successfully launched Hero brand Cigarettes.
- Two new brands viz., `Classic Mild's and `Hero' were launched at the premium and sma
length ends respectively.
1995
- Company introduced CAPSTAN Menthol filter, CAPSTAN standard and Bristo standard an
re-designed Gold Flake Kings and Berkley Filter. Further, Gold Flake Lights in King-size w
Introduced into test markets.
1996
- The Company has launched `Classic Ultra Mild's and `Wills Natural Lights' brands during th
year.
1997
- ITC Classic Finance Ltd. was amalgamated with ICICI Ltd.
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1998
- ITC has nearly 105 subsidiaries, which are involved in various kinds of operations.
1999
- Tobacco giant ITC has raised its stake in paper and paperboards subsidiary, ITC Bhadrachala
Paperboards, from 37% to 51% through a preferential allotment of equity shares. This follow th
allotment, by the board of ITC Bhadrachalam Paperboards, of 1,91,20,000 No. of equity sharof Rs. 10 each for cash, at an issue price of Rs. 65 per share and 11% redeemable cumulativ
preference shares of the face value of Rs100 each, for cash, at par to promoter company ITC.
- ITC will set up a new tobacco processing department (TPD) because the increased productio
will make it economical to process tobacco on site.
2000
- ITC InfoTech Ltd, the UK-based, wholly-owned subsidiary of the Company, and Compa
Computer (I) Pvt. Ltd. signed an Mau aimed at exploring business opportunities for deploying
enabled solutions.
- The Company has launched a project e-Choupal in Bhopal to Web-enable farmers to make
beginning in agricultural e-trade.
- ITC Ltd its entry into retailing business by launching branded leisurewear apparels as part
its diversification strategy into new areas.
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- The Company is hiving off its InfoTech services businesses in India, the US and UK an
merging them into a separate wholly-owned subsidiary.
- The IT division has entered into agreements with Compaq and expand the IT business.
- The company set up the Lifestyle Retailing Business Division. A strategic Business Unit fo
the greeting cards business was set up under the Packaging and Printing Division.
- ITC has launched Wills Sport, a full range of internationally styled premium wear for men an
women.
- Tobacco Company ITC launched a website, billed as `one stop terminus' for internationcustomers of agricultural commodities. The website, WWW.itcibd.com, will provid
information on trading of key commodities.
- The Company has set up units in the north-eastern States to avail of special incentives relatin
to Central excise duties.
- On 21th August, ITC InfoTech India Limited became a wholly owned subsidiary of th
company. Ansal Hotels Limited became a subsidiary of ITC Hotels Limited effective from 12
July.
- The Board of the company has recommended an employee stock option scheme.
- Having carved a niche for itself by launching the first branded lifestyle apparel, Wills Sport,
Delhi in July 2000,the Lifestyle Retailing Business Division of ITC Limited has now big plan
up its sleeve.
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2002
- ITC, Tobacco major, has launched Aashirvaad Atta making its foray into Indian atta market.
- ITC's greetings cards business and Maple Leaf have entered into Joint Venture where Map
Leaf will exclusively manufacture pop-up cards for ITC.
- ITC Foods ands ITC Ltd, is finally foraying its way to the Rs 1,100 crore confectione
market. The foods division which has shifted office from Kolkata to Bangalore this month, h
introduced its first confectionery product, acquired brand Minto in four cities.
-ITC Greeting Cards Business (ITC-GCB), has forayed into stationery products segment withe launch of Expressions Paper Kraft.
-ITC Limited has taken over Wills brand. ITC had to acquire the Wills brand in the US, before
takes Wills merchandise to America.
-ITC, now moves towards match business, it has diversified into the match business to earn mo
revenues from non-tobacco businesses.
2003
-ITC Ltd has informed to BSE that company's Spriha brand of natural incense stick
(Agarbathis) manufactured by Cottage Industries, a unit of the Sri Aurobindo Udyog Trust
Pondicherry was launched on February 21, 2003.
-ITC on April 04, introduced salt in the staple segment, as part of its efforts to clock a Rs 50
crore sales in five years. Salt is the second offering from ITC Foods' staple business in the pa
10months, under the brand name of 'Aashirvaad'.
-Commences commercial production of paper using the environment-friendly ECF (element
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chlorine-free) technology at its Bhadrachalam unit in Andhra Pradesh
-Food wing of ITC eyes on 4 pc market share in biscuit market
-ITC unveils new brand of agarbatties
2004
-ITC Food launches a range of 'cooking pastes' under its ready-to-eat gourmet cuisine bran
Kitchens of India and readymeal Aashirwad brand
-Completes the process of acquiring the paperboard manufacturing facility of BILT IndustriPackaging Co Ltd. (Bipco) near Coimbatore in Tamil Nadu. The facility, renamed 'unit Kova
will operate as part of the paperboards and specialty papers division of ITC, which has a unit
Bhadrachalam in Andhra Pradesh.
-ITC unveils Sunfeast biscuits in Chennai
- ITC ties up with Israeli firm for e-channel.
2005
- ITC Ltd becomes one of the very few companies in India to obtain the coveted Qualit
Management System certification ISO 9001:2000 for investor servicing.
- ITC Ltd wins 'Golden Peacock Global Award for Corporate Social Responsibility (CSR)
Emerging Economies for 2005'.
- ITC Ltd signs an MoU with Tripura Government for a bamboo development programme.
- ITC unveils new `5-in-1' agarbattis
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-ITC unveils `Expressions Regalia'
-ITC e-Choupal gets Development Gateway Award
-ITC unveils Candyman Cofitino
2006
-ITC forges alliance with Tilda for DNA-tested basmati
-ITC ties-up with Marubeni for food biz
2007
- ITCLtd. has informed that the Board of Directors of the Company at the meeting held on Ju
27, 2007, appointed :
(i) Mr. A. Baijal, IAS (Retd.), as an Additional Director of the Company, representating th
Specified Undertaking of the Unit Trust of India (SUUTI),
(ii) Mr. D. K. Mehrotra, Managing Director - Life Insurance Corporation of India (LIC) as a
Additional Director of the Company,representing LIC,
(iii) Dr. R. K. Kaul, General Manager - National Insurance Company Limited, as an Addition
Director of the Company, representing General Insurers' (Public Sector) Association of India,
(iv) Mr. P. B. Ramanujam, as an Additional Non-Executive Independent Director of th
Company, and
(v) Mr. S. B. Mathur, as an Additional Non-Executive Independent Director of the Comp.
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- ITC acquires Australian agri-biotech co.
ORGANIATION STRUCTURE
BRANCH MANAGER
ASSISTANT MANAGER ASSIATANT MANAGER ASSISTANT MANAGER
(FOOD) ( PCP) (CIGARATTE)
AM AM AM
AE AE AE
SPO ST SPO
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Area of diversification
ITC has transformed itself from a leading cigarette manufacturer to an umbrella group that
offers a diversif ied product mix to enhance its brand image and reduce dependency on tobacco
related products. It has forayed into the hospitality service industry and has become a major
player in the hotels segment. Its position in the FMCG(fast moving consumer goods)
business is also on a growth curve; especially itsconfectionery and biscuits which are
slated to achieve the top ranks among its peers. It has made heavy investments to strengthen
its IT (information technology) segment and tocompete with the big players like Infosys
and Wipro. Although the ITC group ismarketing its image as an ideal corporate citizen
and a company that takes its socialresponsibility seriously, it still earns 80% of revenues
from selling cigarettes and other tobacco related products. The major areas in which ITC hasdiversified are:
FMCG Cigarettes Food Lifestyle Retailing Greetings and stationer Safety Matches Incense sticks Hotels Paperboards and Packaging Paperboards and specialty paperpackaging Agri-Business Agri- exports E- choupal
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Information Technology
ITC in FMCG Sector
Cigaretteds
ITC is the market leader in cigarettes in India. With its wide range of invaluable brands, it has a
leadership position in every segment of the market. It's highly popular portfolio of brands
includes Insignia, India Kings, Classic, Gold Flake, Silk Cut, Navy Cut, Scissors,
Capstan,Berkeley, Bristol and Flake.
The Company has been able to build on its leadership position because of its
single minded focus on value creation for the consumer through significant investments in
product design, innovation, manufacturing technology, quality, marketing and distribution.
The Company has been able to build on its leadership position because of its
single minded focus on value creation for the consumer through significant investments in
product design, innovation, manufacturing technology,quality, marketing and distribution.
All initiatives are therefore worked upon with the intent to fortify market standing in the long
term. This in turns aids in designing products which are contemporary and relevant to the
changing attitudes and evolving socio economic profile of the country. This strategic
focus on the consumer has paid ITC handsome dividends.
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ITCs pursuit of international competitiveness is reflected in its initiatives in the overseas
markets. In the extremely competitive US market. ITC offers high quality, value- priced
cigarettes and Roll- your- won solutions. In west Asia,ITC has become a key player in the GCC
markets through growing volumes of its brands.
ITCs cigarettes are produced in its state-of-the-art factories at Bengaluru, munger, Saharanpur
and Kolkata. These factories are known for their high level of quality, contemporary technology
and work environment.
Foods
Ready to Eat:
Keeping alive long forgotten culinary traditions, Kitchens of India presents its range of ready-
to-eat cuisines. Each one of these legendary delicacies has been created by Master Chefs of
ITC Hotels, following rare, closely guarded recipes, handed down through the ages, from
one generation to the next.
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Bukhara
Bukhara, a village in Uzbekistan, was a meeting place for the traders from Asia and Europe. It
was also a spot on the fabled Silk Route , a passage commonly used by traders, scholars and
nomads. It was on this route that the unique Bukhara style of cooking was born.
The Master Chefs of ITC Hotels have whipped up the delectable bite into history with this
cuisine from the North-west Frontier province with a masterpiece like dal Bukhara.
Dal Bukhara
Dal Bukhara is an exquisite culinary treat made from whole black lentils simmered with prized
indian spices over a coal fire, for long hours on end.
Mirch ka salam Kheema Mutter
Mughlai panner Chicken chettina
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Chicken darbari paneer darbari Murgh methi
Lagan ki boti Paneer malai
Kitchen of india Curry pastes
Butter chicken curry paste
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Hyderabadi biryani paste
Fish curry paste Vegatable biryani
paste
chicken curry paste
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Sunfeast (biscuit)
In 2003, ITC forayed into the Biscuits market with the Sunfeast range of Glucose, Marie and
Cream Biscuits. Sunfeasts brand essence, "Spread the Smile"connotes happiness, contentment,
satisfaction, and pleasure. The mascot sunny reinforce the emotional aspects of the brand. In
span of 6 year sunfeast has launched many new varients and has its presence in almost all types
of biscuit categories.
Sunfeast immediately established itself as a provider of innovative and distinctive products -
Sunfeast Marie was launched in an innovative orange flavour and the 'Sunfeast Dream
Cream' range includes new flavours as well as flavour enhancers. The Sunfeast Dream Cream
range is currently available in 8 variants. The Company has also introduced 'Sunfeast Dark
Fantasy', a dark chocolate and vanilla cream offering for the premium segment in select
markets.
Riding on the success of its initial offering, ITC also entered the milk biscuit categary with
Sunfeast milk magic biscuit. Apart from milk which helps mental growth, these biscuit also
contain the finest quality wheat adding physical growth.
In the last two years, the Sunfeast biscuits portfolio has been enhanced to include salted
crackers and cookies. The 'Sunfeast Snacky' salted crackers are available in 2 unique
variants Chilli Flakes and Classic Salted. Sunfeast's latest offering, 'Sunfeast
Special' biscuits are also available in select markets. The Sunfeast Special range currently
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includes cookies in two variantsButter and Cashew, as well as cream biscuits in two variants
Choco and Orange.
The sunfeast product portfolio has been further expanded to include helthy snacks
option.sunfeast pasta treat is a whole wheat based instant pasta for children.after a tremendoussuccess of the 4 initial flovours, the instant pasta range has been exented with two new exciting
flavours pizza, and chicken. The pasta segment was further expanded With the launch of
sunfeast benne vita in 4 innovative variants.
Confectionary:
ITC currently has two brands in the confectionery segment - 'mint-o'
and 'Candyman'.
'mint-o' was acquired by ITC from Candico in March 2002. ITC re-launched the compressed
mint offering, across all major markets in India, with new and improved productand packaging. Available in the regular mint flavour with added blue specks to enhance
consumer experience,mint-o is also offered in innovative 'Orange mint' and 'Lemon mint'
flavours. 'mint-o' is available in two sizesrolls of 20 and 6, capturing the international essence
of youthful cool
ITC launched the 'Candyman' range of confectioneries in August 2002. Led by the
'Candyman Fruitee Fun' range of assorted fruit flavours ('Wild Banana', 'Pineapple Punch',
'Orange Josh' and 'Mango Delite'), the 'Candyman' portfolio now includes depositedcandy products like 'Candyman Butterscotch Licks' and 'Candyman clairs' (Choco
flavoured as well as Vanilla Cream centre inside a Butterscotch outer shell). The
coffee toffee segment also saw the successful launch of 'Candyman Cofitino' in
November 2005. Two new products'Candyman Natkhat Mango' and 'Candyman Maha
Mango' were launched recently. The 'Candyman' range of confectionery is targeted at fun-
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filled, naughty kids who seek a delightful candy experience through a range of candy types
and flavours.
Bingo!
ITC's new snacks brand Bingo! marks the company's foray into the fast growing branded snacks
segment. The launch of Bingo! Represent ITC fifth major line of foods business after highly
successful staples, biscuit,Ready to eat and confectionary business.
The launch of Bingo! is symbolic of ITCs' distinct approach of introducing innovative and
differentiated products in a largely undifferentiated market place.
The initial offerings from Bingo! include an array of products in both Potato Chips & Finger
Snacks segment. The Potato Chips offerings comprise four innovative variants inspired by the
snacking habits of different parts of the country as well as masala, salted and tomoto
flavors.Additionally, a south- inspired dairy option has also been introduced under the potatochips offering.
ITC in Hotel Industry
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ITC Limited entered the hotels business in 1975 with the acquisition of a hotel in Chennai,
which was rechristened Hotel Chola. Since then the ITC-Welcomgroup brand has become
synonymous with Indian hospitality. Today amongst India's finest and fastest growing hotel
chains, it consists of over 70 hotels across as many destinations in India. These include super
deluxe and five star hotels, heritage palaces, havelis and resorts and full service budget hotels.
The 440-room ITC Maurya at New Delhi is not only amongst the leading business hotel in the
country, but is in a class by itself. Complete with the 'ITC One', the hotel has played host to a
galaxy of world dignitaries, including Bill Clinton and Bill Gates. In fact, even as he was
leaving the White House, the former US President nostalgically recalled the memories of a
fabulous Indian meal he and his family had at the Bukhara restaurant in the hotal.
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Bukhara has been declared the best Indian Restaurant in the world, by The Restaurant
Magazine; UK
In keeping with its plan to have a presence in every major business destination in India, ITC-
Welcomgroup unveiled one of Asia's finest business resort, the 238-room ITC Sonar in Kolkata
on December 31, 2002.
Another landmark hotel - the ITC Grand Central in Parel, Mumbai was formally inaugurated in
January 2005. This five star deluxe property with 242 suites and rooms offers international
standards of service, state of the art amenities and culinary excellence.
The 386-room ITC Maratha, opened in February 2001, is perceived as amongst the leading and
the finest properties in Mumbai, designed in a grandiose classic style, the hotel pays tribute to
Mumbai's colonial roots and the spirit of the great Maraths.
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ITC Mughal at Agra, a proud recipient of Asia's first Aga Khan Award for Architecture, is an
outstanding resort hotel, lavishly spreading across 35 acres of beautifully landscaped Mughal
gardens.
ITC-Welcomgroup also pioneered a holistic concept of "branded accommodation" in thehospitality industry. It was the first to launch the powerful idea of a 'Hotel within a Hotel' by
segmenting and branding the hotel services. It created the exclusive 'ITC One', 'The Towers' and
the 'Executive Club' each catering to the needs of the global business traveller with unmatched
quality and a range of services.
In 2007, ITC-Welcomgroup entered a new phase in its collaboration with Starwood Hotels &
Resorts. ITC-Welcomgroup now has an exclusive tie-up with Starwood in bringing its premium
brand, the Luxury Collection, to India. The seven hotels which are part of this collection are:ITC Maurya in Delhi, ITC Maratha in Mumbai, ITC Sonar in Kolkata, ITC Grand Central in
Mumbai, ITC Windsor in Bengaluru, ITC Kakatiya in Hyderabad and ITC Mughal in Agra. The
agreement also includes the rebranding of WelcomHotel New Delhi as a Sheraton, while the
Chola and the Park in Chennai, and the Rajputana in Jaipur retain their Sheraton connections.
The Welcome Heritage brand brings together a chain of palaces, forts, havelies and resorts that
offer a unique experience. Welcom Heritage endeavours to preserve ancient royal homes and
the historical Indian grandeur, opulence of romance, valour and adventure for the future Indian
generations. Welcom Heritage Hotels, provide a fine range of hotel services inside these
architectural legacies present in Rajasthan, Punjab, Himachal Pradesh, Madhya Pradesh,
Uttaranchal, Jammu & Kashmir, West Bengal, Tamil Nadu, Haryana and Karnataka.
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Fortune hotels are a part of the well thought-out growth strategy that brings out the mid-level
business and leisure traveler under the ITC-Welcomgroup umbrella, offering full service
properties without compromising on quality. With a strong presence at Ahmedabad,
Thiruvananthapuram, Calicut, Darjeeling, Jamshedpur, Vapi, Hyderabad, Gurgaon, Indore,
Ootacamund, Madurai, Jodhpur, Tirupati and Port Blair, it will be shortly commissioning
several more hotels across India.
ITC in Agricultural Industry
ITC's International Business Division (IBD) is the country's second largest exporter of
agri-products with exports of over Rs. 1000 Crores (Rs. 10 billion). Its domestic sales
of agri-products are in excess of Rs. 1500 Crores (Rs. 15 billion). It currently focuses on
exports of :
Feed Ingredients- Soyameal FoodgrainsRice (Basmati & Non basmati), wheat, pulses Edible Nutssesame seeds, HPS Groundnuts, castor oil Marine productsShrimps and prawns Processed fruitsFruit purees/ concentrates, IQF/Frozen fruit, organic fruit , Fresh fruits Coffee & Spicescoffee, Black pepper, Chilly, Turmeric, Ginger, Celery, and
other seed spices.
Although one of the relatively younger business divisions of ITC, it has, in a short span
established itself as a first-choice supply chain partner of several leading international
customers. Its major customers include Cargill , marubeni , Toepfer, among others, who source
agriculture commodities and food products from india. Its customer relationship management
has enabled it to achieve a very high reputation for quality, reliability and value added services.
ITC's unique strength in this business is the extensive backward linkages it has
established with the farmers. This networking with the farming community has enabled ITC
to build a highly cost effective procurement system. ITC has made significant investments in
web-enabling the Indian farmer. Christened 'e-Choupal', ITC's web plan for the farmer centres
around providing internet kiosks in villages.
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Farmer use this technology infrastructure to access on- line information from ITCs farmer
friendly website. Data access by the farmers related to the weather, crop condition, best
practices in
farming, ruling
international
prices and a host
of other relevant
information.
Currently, the 'e-
Choupal' website -
www.echoupal.co
m - provides
information to
farmers across the
nine States of
Madhya Pradesh, Haryana, Uttaranchal, Uttar Pradesh, Rajasthan, Karnataka, Maharashtra,
Andhra Pradesh and Kerala. ITC plans to extend the 'e-Choupal' to cover 10 million farmers
across 100,000 villages covering 15 Indian states.
ITCs International Business Division, one of Indias largest exporters of
agricultural commodities, has conceived e-Choupal as a more efficient
supply chain aimed at delivering value to its customers around the world on a
sustainable basis.
ITCs E- choupal
The e-Choupal model has been specifically designed to tackle the challenges posed by the
unique features of Indian agriculture, characterised by fragmented farms, weak
infrastructure and the involvement of numerous intermediaries, among others.
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e-Choupal also unshackles the potential of Indian farmer who has been trapped in a
vicious cycle of low risk taking ability > low investment > low productivity > weak
market orientation > low value addition > low margin > low risk taking ability. This made him
and Indian agribusiness sector gslobally uncompetitive, despite rich & abundant natural
resources.
ITC in Paper Industry ITC is one of the world's most modern and contemporary manufacturers
of packaging and graphic series of boards. ITC's Paperboards business has a
manufacturing capacity capacity of 360,000 (TPA) tonnes per annum and is India's market
leader across all carton- consuming segments including cigarettes, foods, beverages,
pharma, personal care & toiletries, durables and match shells. ITC makes some of the
premium graphic boards used for greeting cards , covers, sleeves, tags and playing cards. The
Company produces both Virgin and Recycled boards spanning the full requirement of
packaging customer.
The erstwhile ITC Bhadrachalam Paperboards Limited was incorporated in 1975. It set up an
integrated pulp and paper/board manufacturing facility in 1979 at Bhadrachalam inAndhra
Pradesh in South India, 300 kms. east of Hyderabad. Since then, the mill facilitieshave been
continuously upgraded to achieveinternationally benchmarked quality standards and operat
ional efficiencies.
Further, a growth in rural incomes will also unleash the latent demand for industrial goods so
necessary for the continued growth of the Indian economy goods . This will create another
virtuous cycle propelling the economy into a higher growth trajector my. This will create another
virtuous cycle propelling the economy into a higher growth trajectory.
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In 1998, the Paperboards business commissioned a new production line for coated
boards. This production line incorporated Paper Machine 4, with original capacity of
120,000 tonnes per annum (TPA)and finishing & packing lines sourced from
internationally renowned suppliers. This machine has been fitted with a sophisticated 'WebDetection and Inspection system' and since been modernized further with the addition of the
latest web forming technology. The PM4 board machine can deliver international quality
boards for Cigarette, Liquid, Food and Pharma Packaging by providing a flawless surface for
print reproduction. To meet the growing requirement for high quality paperboards , PM5 was
commissioned in 2003 with a capacity of 80,000 TPA.
In September 2002, ITC's Bhadrachalam Paperboard Unit commissioned a 110,000 TPA
ITC is the largest exporter of coated boards from India. The Company exports nearly 15
percent of the coated boards it produces. Its coated boards fulfill exacting customer
requirements inMalaysia, Sri Lanka, Bangladesh, Iran, Australia, UAE, UK, Italy, Poland and
Russia.
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Elemental Chlorine Free (ECF) fibre line. This is a state-of-the-art fibre line and the only one in
India, which meets effluent norms, set by the Ministry of Environment and Forests of the
Government of India and Pollution Control Boards. The product range has also been
enhanced as ECF pulp uniquely fulfills the demand for food-grade packaging and
environment-friendly paper. To meet its growing need for bleached pulp, a second ECF pulp
line with a capacity of 120000 TPA is now nearing completion at Bhadrachalam.
ITC has set up India's first world-class plant for the manufacture of premium Cast
CoatedBoards that meet highly sophisticated packaging andprinting requirements. The
Unit at Bollaram has beenexpanded further to accommodate specialized converting
production lines. ITC has added a modernPoly-extrusion line to its production facility, to
meet the growing demand for food packaging and beverage cups.
ITC's Paperboards business has a strong customer focus. The Company's Paperboards business
devoutly practices a 'TPM' philosophy during each stage of manufacture. Lean
management techniques have also been introduced in making the operations more
responsive and efficient. Statistical Process & Quality control supplement the state-of-the-art
on-line process controlsand scanning systems in the production lines.
ITC is the premier manufacturer of Specialty Papers in India, with a diversified product
portfolio.ITC's Specialty Papers are used in the manufacture of opaque lightweight fine printing
papers, cigarettes, papers for decorative laminates, electrical insulation-grade papers ,
fireworks fuse tissue and automotive filter paper.
The Specialty Papers Unit of PSPD at Tribeni, Chandrahati, West Bengal aims to reach out
This Division pioneered the manufacture of Specialty Papers for the Indian
cigaretteindustry in 1949. It currently offers a comprehensive range of Cigarette Tissues,
Plug Wrap, Tipping Base printed tipping papers and metallising Base.
.
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and fulfill existing and emerging customers needs. The Unit reconfigures systems and
processes to meet specific customer requirements. Quality control processes at the
Unit are designed to ensure consistent high quality at every stage of manufacture.
On-line monitoring and documentation of production parameters are carried out for
continuous correction andupdation of quality standards.A Product Development Team ensures
Total Quality Management (TQM) in all operations. The TQM group closely
dovetails its operations with marketing, production and research teams to ensure
international standards in products and services. The business creates long-term product
development solutions on the basis of customer specifications and market
trends.ITC has demonstrated strong capability in product development and research in
pulp and paper. The Company has collaborated with the United Nations Development
Programme (UNDP) and the Government of India on research programmes todevelop high quality pulp.
The Division exports cigarette tissues and dcor paper for laminates to Iran, Turkey , Nepal, and
Bangladesh
ITC in Apparels
ITCs Lifestyle Retailing Business Division has established a nationwide ret
ailingpresence through its Wills Lifestyle chain of exclusive specialty stores. Wills Lifestyle,the
fashion destination, offers a tempting choice of Wills Classic work wear, Wills Sports.
And Fiama Di Willsa range of premium shampoos and shower gels. Wills Lifestylewear by
leading designers of the country. has also introduced Wills Signature, designer With a
distinctive presence across segments at the premium end, ITC has also established
John Players as a brand that offers a complete fashion wardrobe to the male youth oftoday. The
recent launch of Miss Players with its range of trendy fashion wear for young women has beena successful addition to the youth portfolio. With its brands, ITC is committed to build a
dominant presence in the apparel market through a robust portfolio of offerings.Wills Lifestyle
has been established as a chain of exclusive specialty stores providing the Indian
consumer a truly 'International Shopping Experience' through world-class ambience,
customer facilitation and clearly differentiated product presentation. Our stores have
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established themselves as preferred shopping destinations in the prime shopping districts
across the country.
Wills Lifestyle is now title partner of the countrys most premier fashion event - Wills Lif
estyle India Fashion Week. Taking the celebration of the event to its stores, Wills Lifestyle
has partnered with leading designers Rohit Bal, Rajesh Pratap Singh, Manish Malhotr a and
Rohit Gandhi - Rahul Khanna to create a new editionof Designer wear, which is now
available at Wills Lifestyle
ITC in information technology
ITC InfoTech conforms to the highest standards in international process quality
ITC InfoTech, a global IT services company, is today one of Indias fastest growingIT and ITES
service providers. Since it's inception in October 2000, the company has established itself
as key player in offshore outsourcing, providing outsourced IT solutionsThe company enjoys the rare advantage of having a practitioner's expertise with a strong vertical focus
in Consumer Packaged Goods (CPG) and Retail, Travel, Hospitality and Transportation, and
Manufacturing - domains that its parent, ITC Limited, has traditionally dominated - as well
as in the main stay of technology service providers
ITC InfoTech offers services through a global delivery platform with a strength of over
2,000 employees and delivery centers across North America, Europe and Asia-Pacific
that serve Fortune-listed companies in 42 countries.
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international process quality, with ISO 27001, ISO 9001,SEI CMM Level 5 and BS 7799
accreditations. Thesereflect the companys ongoing enterprise-wide focus toensure that
ever y engagement, program and projectdelivers international quality consistently.
Industry Recognition: Premier analyst and market research agencies have recognizedITCInfoTechs position as the preferred ITpartner. It has been:
STRATEGIES OF ITC
ITC is a board-managed professional company, committed to creating enduring value for the
shareholder and for the nation. It has a rich organizational culture rooted in its core values of
respect for people and belief in empowerment. Its philosophy of all-round value creation is
backed by strong corporate governance policies and systems.
ITCs corporate strategies are
Featured amongst Top 100 Global Outsourcing Companies in the Leaders
categoryinternational Association of outsourcing professionals.
Ranked amongst Top 10 Specialty Application Development Providers - Global Services,
CMP Media .named among major Indian global services providers for plm implementation
and engineering services -
Create multiple drivers of growth by developing a portfolio of world class businesses
that best matches organizational capability with opportunities in domestic and export
markets.
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Continue to focus on the chosen portfolio of FMCG, Hotels, Paper, Paperboards &
Packaging, Agri Business and Information Technology
Benchmark the health of each business comprehensively across the criteria of Market
Standing, Profitability and Internal Vitality.
Ensure that each of its businesses is world class and internationally competitive.
Enhance the competitive power of the portfolio through synergies derived by blending the
diverse skills and capabilities residing in ITCs various businesses
Create distributed leadership within the organization by nurturing talented and focused top
management teams for each of the businesses.
Continuously strengthen and refine Corporate Governance processes and systems to catalyses
the entrepreneurial energies of management by striking the golden balance between executive
freedom and the need for effective control accountability.
Sustain ITC's position as one of India's most valuable
corporations through world class performance, creating growing value for the Indian economy
and the Companys stakeholders
To enhance the wealth generating capability of the enterprise
in a globalising environment, delivering superior and sustainable stakeholder value
Sunfeast profile
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:: Snack foods
Sunfeast
In July 2003, ITC forayed into the Biscuits market with the Sunfeast range of Glucose, Marie
and Cream Biscuits. Sunfeasts brand essence, "Spread the Smile" connotes happiness,
contentment, satisfaction and pleasure. The mascot Sunny reinforces the emotional aspects of the
brand. In a span of 6 years Sunfeast has launched many new varieties and has its presence in
almost all types of biscuit categories.
Sunfeast Milky Magic
Packed with goodness of milk these deliciously nutritious
crisp and crunchy biscuits are a favorite among mothers
and kids. Milky Magic has the power of 2 - A perfect
balance of energy that aids physical strength and mental
ability. These biscuits strike the right balance of milk and
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wheat which helps in an all round development and
nurturing of the child.
Sunfeast Marie
Sunfeast Marie Light:
This ideal teatime biscuit is made from the finest quality wheat
high in fibre and keeps one light and healthy through the day.
Orange Marie :
It has the distinction of being one of the most successful
innovative Marie biscuits and is liked by one and all.
Sunfeast Golden Bakery
Sunfeast Golden Bakery is a premium cookie on an
innovative and differentiated platform. Launched
nationally in March 2008, these cookies are made from the
recipes crafted by the master bakers of ITC Hotels and are
slowly baked in the traditional way till they are golden
brown and develop the crispy broken crust texture.
The Sunfeast Golden Bakery cookies are available in three
distinct flavours - Butter-Nut, Butterscotch and Choco-Nut
cookies. These products are designed to give consumers a
rich & truly indulgent experience.
Sunfeast Dark Fantasy
Inspired by the Master Chefs of ITC hotels, it is the richest of
chocolate vanilla biscuits. These biscuits are created using carefully
chosen premium ingredients for a sensory experience unlike any
other. Dark Fantasy is more than a biscuit, its a luxurious mix o
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aromatic cocoa and vanilla.
Sunfeast Glucose
For those light hunger pangs, a wholesome & nutritious choice as thesegolden brown biscuits are made from the best quality wheat. Sunfeast
Glucose biscuits are ideal not just for kids but adults too.
Sunfeast Dream Cream
A truly scrumptious range of cream biscuits that have become an instant hit with children. ITCs
chefs have put their legendary skills into these biscuits to deliver truly tasty cream biscuits.
Special Flavor Crystals in Strawberry and Pineapple cream biscuits keep the creamy flavor lingeron.
Strawberry Cream
The first of its kind cream biscuit
with special strawberry flavor
crystals that will keep the creamy
flavor linger on.
Bourbon
A special delight for all those
chocolate lovers.
Orange Cream
Experience a tangy twist in biscuits
with every Orange cream.
Butterscotch Cream
Another first, the taste of ice-cream
in cream biscuits.
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Mango Cream
A special summer flavour cream
biscuits for all those who love the
king of fruits.
Elaichi Cream
Taste the queen of spices in cream
biscuits.
Sunfeast Snacky
Bigger than most others in the salted biscuit category,
Snacky is light and crispy like no other. From kids to adults,
its the quintessential Family Biscuit. Available in two
variants, Classic salted and Chilli flakes - the very first of its
kind in India.
Sunfeast sweet 'n salt
These thin and crisp biscuits come with a distinctive sundry
taste, that of salt and sweetness. A bite into one of these one
keeps wondering about its taste!
Sunfeast Nice
These are crisp coconut biscuits showered with sugar crystals. The crispsugary sweetness will just go on to make all those nice moments nicer.
Sunfeast Benne Vita Flaxseed Biscuits
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If Benne Vita in Italian stands for Good Life, then Benne
Vita Flaxseed biscuits just make the good life better. The
Flaxseed content in these protein and mineral enriched
biscuits are rich source of Omega III acids that helps
control cholesterol. Flaxseed is the richest plant source of these essential Omega-3 Fatty Acids.
It is also rich in dietary fibre, proteins, calcium and other minerals to maintain healthy heart and
good gut health.
Sunfeast Special
ITC Sunfeast presents a range of Special cookies and creams.
SpecialCookies:
Made with best quality wheat, cashew and butter, Sunfeast Special
cookies are baked with real butter and the finest ingredients to give a
mouth-watering treat that makes every moment special. Available in
Cashew/ Butter/ Coconut.
SpecialCreams:
Delicious value for money cream biscuits with a thick layer of cream
sandwiched between two biscuits. Available in Orange and Chocolate
variants.
Sunfeast Pasta
The Sunfeast product portfolio was expanded in early 2005 to
include healthy snacking options as well.
Sunfeast Pasta Treat, a whole wheat based instant pasta was
introduced as a healthy snacking option for children and young
adults. After the tremendous success of the 4 initial flavours,
(Masala, Tomato Cheese, Cheese and Sour Cream), the instant
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Pasta range has been extended with three new exciting flavours - Pizza style, Chicken and
Tangy Tomato.
How ITC turned biscuits business around.
Biscuits and tea in the morning were a routine. So were the key market players and thei
favourite products.. The two major players Britannia [Get Quote] and Parle were busy biting
of chunks of the national market among themselves, with a host of smaller brands in various
regions.
While the business was still very competitive, there wasn't anything groundbreaking. In 2003,
with ITC foraying into the segment, a lot of that changed.
At that time, Britannia and Parle held, between them over 82 per cent of the market in value
terms. The rest too was firmly held by smaller players like Priya Gold which had a strong
presence in the north. So, in essence, the market already had strong well entrenched players. So
how could a late entrant like ITC make its mark?
Six years down the line, however, things have changed a lot. It is a classic story of the hare and
the tortoise. While it is far from winning the race, slowly and steadily, the tortoise is gaining
ground.
The late entrant is already on the podium in the third place with as much as 7 per cent of the
market in terms of value. "ITC made hay when the sun wasn't shining," says a consultant who's
been tracking the industry for a long time. But first, why did ITC train its eye on biscuits? Ravi
Naware, chief executive, ITC Foods, makes it sound simple.
"We decided to enter the foods segment because it's a Rs 550,000 crore (Rs billion) market in
India. But only 6 per cent of this is branded and packaged. In developed markets, nearly 95 per
cent of the food market is branded and packaged. So there was lot of scope for a branded player
In foods, biscuits was tempting. The Rs 4,000-crore (Rs billion) Indian biscuits market has
grown at 12-14 per cent year-on-year. Then, there was a business synergy. ITC was already
value-adding to wheat with its branded atta presence. By entering the biscuits segment, it could
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also improve its bottomline further.
But despite the fast growth rates, the biscuits industry was not all rosy. Over the years, even
giants like Hindustan Lever had failed. For instance, HLL which had flirted with biscuits under
the Max brand exited in 2005. But ITC's Sunfeast has a different story to tell so far. the
strategist looks at the gameplan of a late entrant and how the biscuits industry has responded.
New recipe
Before entering the segment, ITC dug into market research. Research revealed that the category
had gaps which ITC could settle into. Findings revealed that consumers wished to taste new and
innovative products. That was precisely what the competition had not done in a big way.
Says Naware, "The biscuits industry had witnessed little innovation; Glucose was Glucose and
Marie was still Marie." The company decided that this could be its biggest point of attack. In
2003, ITC launched Sunfeast with six ranges. But it was a calculated risk. ITC stuck to category
favourites like Glucose, Marie and Bourbon cream
Along with that, it also launched innovations such as orange-flavoured Marie, Marie light and
butterscotch-flavoured cream biscuits. In 2004, Sunfeast followed this up with the launch of
Sunfeast Milky Magic. More recently, it also has launched the Sunfeast Snacky and Sunfeast
Golden Bakes.
Analysts believe that just because Sunfeast was a new brand, helped matters. Says a consultant,
"The biscuits industry had not witnessed any major product innovation in years. Consumers
were just waiting for something new, something fresh, when Sunfeast happened."
Even the competition had not made things better. Between 2000 and 2005 neither Parle nor
Britannia launched any major new product. Yes, Britannia did re-launch its Tiger brand in 2005.
But Britannia claims that it is looking at more than just products. Richa Arora, general manager
and head of marketing and innovations, Britannia Industries, says, "We are not just looking at
new products, but tapping newer opportunities -- such as different occasions as well as out-of-
home consumptions."
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In 2005, before Diwali, Britannia launched Occasions -- boxes of assorted biscuits priced
between Rs 50 and Rs 200 -- which the company claims has been very successful.
In 2006, however, the industry has seen a flurry of innovations from the big two. Digestive
Marie -- was launched by Parle in early February 2006. Britannia launched its new double-
flavoured Mariegold and 50-50 Chakkar. And Parle is all set to launch at least two new products
before the end of this year.
Distribution maze
It's common knowledge, that for FMCG products, distribution channels are very important.
Says Pravin Kulkarni, general manager, marketing, Parle Products, "For biscuits, distributionand visibility are extremely important as it's partly a impulse purchase product." And in biscuits,
setting up a distribution channel is anything but easy.
Consider this. Priya Gold, which entered the western region in 2000, is struggling to find its feet
even eight years later.
However, in this regard, Sunfeast has been fortunate: thanks to its tobacco business, ITC
already had a good understanding of distribution channels.
The company used its existing network of convenience stores -- the company's name for the
hole-in-the-wall pan-beedi shops -- for Sunfeast. Not content with the existing resources, the
company also looked at grocery stores and other retail formats.
The company says the brand is now available in nearly 1.8 million outlets. Britannia claims it
has a superior distribution clout with its presence in nearly 3.3 million outlets. Parle, the
seasoned player itself, says it is available in 1.5 million outlets. Sunfeast's next step was to stepup its branding and promotion.
Ad thrust
In August 2003, a month after its launch, the company undertook a major sampling exercise to
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promote the product. For two years then, the brand did all the usual rounds -- riding behind
buses, blocking television spots, booking that corner space in your favourite newspaper and so
on.
Well differentiated advertisements, some which showed a complete cream world with cream
rivers, cream mountains and cream trees, were targeted at kids watching cartoon channels.
At the same time, on general entertainment channels, mothers received information on the
importance of glucose, the wholeness of wheat and so on. Also, the company tied up with Bey
Blades, the popular television series that was a rage among children, to promote itself.
In April 2005, Sunfeast launched its major campaign. It signed on Hindi film actor, Shah Ruk
Khan as its brand ambassador.
In the same year, as the official sponsor of the WTA tennis championship -- titled the Sunfeast
Open -- the company had teenage sensations Sania Mirza and Mahesh Bhupathi campaigning
for it. But that's not all. For promotions in southern states, Sunfeast has signed Tamil super star
Surya as a brand ambassador.
Analysts say that ITC's deep pockets have helped Sunfeast in many ways.
The company claims that it has been spending 35-40 per cent of its turnover from the biscuits
segment on advertising and promotions. Going by that number, ITCs annual marketing spends
are estimated to be in the region of about Rs 115-120 crore (Rs billion).
Until last year, Priya Gold spent close to Rs 45-50 crore (Rs billion), nearly 10 per cent of its
turnover on marketing. Even market leader Britannia with spends of Rs 100 crore (Rs billion)
(2004-05) spends about 10 per cent of sales on marketing.
But Arora says that the figure will increase substantially in 2006-07. ITC is clearly among the
largest spender on ads and promotions in the biscuits category.
Analysts predict that these figures are all set to rise this year. But industry experts aren't
impressed.
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Says a consultant, "Although Sunfeast's Shah Rukh Khan association is interesting, it is yet to
do something groundbreaking, like Britannia khao world cup jhao or the Lagaan promotion for
that matter."
Pricing models
The biscuits industry now has two clear models. Parle products plays the low price game at all
varieties of biscuits from glucose to cream.
Essentially, Parle plays a high volume, low margin game. But Britannia and Sunfeast look at a
two-pronged strategy. High margins in cream variants and volumes from the Marie and Glucose
segments.
For instance, cream biscuits from both Britannia and Sunfeast cost Rs 10 for 100 grams. Parle,
however, only charges Rs 5 for its cream variants. Except for Hide & Seek, all of Parle's
products lie in the price range between Rs 4 and Rs 6 for 100 gram packs.
To be fair, in Glucose and Marie, the companies have little choice. As there is little
differentiation, consumers are extremely price sensitive. But these segments are important.
Marie and the popular glucose varieties make up for nearly 55 per cent of the Rs 4,000 crore
(Rs billion) biscuits segment -- a significant Rs 2,200 crore (Rs billion).
Says Sunil Alagh, chairman, SKA Advisors, and former CEO of Britannia Industries, "the
biscuit consumer is willing to pay more only when he sees a clearly differentiated product.
Hence companies have little choice in terms of pricing." No wonder all the Glucose and Marie
variants straddle price points of Rs 4-6 (for 100 grams).
Key challenges
Back in 2003, nobody thought Sunfeast would have consumers eating out of its hands. Says
Naware, "Seven per cent in less than three years is something that we could have only dreamt
about."
Importantly, industry barometer AC Nielsen has indicated that both Parle and Britannia are
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losing market shares. According to the AC Nielsen retail sales audit in March 2006, both
Britannia and Parle have lost volumes. Britannia's shares have dropped from 35.8 per cent in
2004-05 to 30.5 per cent in May 2006 (volumes). Parle's shares have also dropped from 42.2 to
38.4 per cent in the same period.
Even Priya Gold has seen a minor dip from 6.4 per cent to 5 per cent. ITC's Sunfeast has been a
big gainer with its share increasing from 2.7 to 6.7 per cent.
In terms of value, Britannia leads the market with 37 per cent market share, followed by Parle's
31.3 per cent and ITC's 6.3 per cent. Nevertheless, the gap is still wide. Sunfeast still has a long
way to go.
But what can the bigger players do? Alagh has an interesting observation. Says he, "Biscuits
have always been a low margin, high volume game. Both Britannia and Parle have very high
volumes and can easily afford to lower their margins."
A potential after-effect? Sunfeast too may have to drop its prices to be in the reckoning and this
will squeeze its margin even lower. While the full game is yet to be played outfor the moment
the sun seems to be shining on Sunfeast.
Creaming the market
Innovation in the product line -- biscuits with butterscotch cream with actual granules ithe cream, strawberry cream with flavour-enhancers and orange-flavoured marie.
Gained an edge from the well established distribution network of its tobacco business. Signed up big film stars like Shah Rukh Khan and southern star Surya as bran
ambassadors for Sunfeast.
Branded the WTA tennis tournament with promos starring tennis stars, Mahesh Bhupatiand Sania Mirza
Needs further embellishments
Big brand ambassadors, but not strong enough advertising campaigns for big brandrecall.
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The gap between the number three and the top two slots is too wide. Competitors can play the low price game as they have volumes to support
CATOGARY SUNFEASTBISCUIT
SUB-CATOGARY
VARIENT SKU MRP(1 PKT) PTS(1KG)
SF GLUCOSE 19G 1 RUPEE
38.5G 2 RS 40.61 RS58G 3 RS 40.44RS82.5G 4 RS
187G 10 RS418G 20 RS
MARIE
LIGHT 171G 13 RS 49.9 RS224G
PLAIN 306G 21ORANGE 171G 13
MILK MAGIC 85G 7
100G150G 10
SALTED 70.6G 7CHILLI 70.6G 8
SWEET nSALT
75G 7200G 16
COOKIES BUTTER
SCOTCH
90G 10RS
180G 18SPECIALBUTTER
62G 5RS
250G 20SPE CASHEW 62G 6
250G 20
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CREAM ORANGE 65G 5195G 15
CHOCO 65G 5195G 15
PINEAPPLE 90G 10
CATOGARY PARLE
BISCUIT
SUB-
CATOGARY
VARIENT SKU MRP(1 PKT) MARGIN OF
STOCKIST
PARLE-G
GLUCOSE
16.5G 1RUPEE 3.5%
38.5G 2RS 3.5%60.5G 3RS 3.5%
82.5G 4RS 3.5%
99G 5RS 3.5%
209G 10RS 3.5%
313G 15RS 3.5%
418G 20RS 3.5%
MILK SHAKTI 75G 5RS 5%
150G 10RS 5%
CREAM ORANGE 80G 5RS 5%
160G 10RS 5%
ELACHI 80G 5RS 5%
160G 10RS 5%
PINEAPPLE 80G 5RS 5%
160G 10RS 5%
MANGO 80G 5RS 5%
160G 10RS 5%
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MONACO ROLL 75G 5%
120G 5%
240G 5%
FUNION 75G 5%
120G 5%
75G 5RS 5%
150G 10RS 5%
NAMKIN 75G 5RS 5%
120GMONACO
ZIRA
75G
120G
KRACKJACK 75G 5RS 5%
120G 10RS 5%
240G 20RS 5%
20-20 BUTTER 65G 5RS 5%
117G 5%
225G 5%
CASHEW 65G 5%
117G 5%
215G 5%
MARIE
DIGESTIC 77G 5RS 5%
170G 5%
226G 5%
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PARLE MARIE 10.34G 5%
77G 5%
226G 5%
336G 5%
HIDE & SAKE COFFEE 100G 5%
200G 5%
600G 5%
MINT 100G 5%
200G 5%
600G 5%
ORANGE 100G 5%
200G 5%
600G 5%
CHOCO 100G 5%
200G 5%
600G 5%
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CHAPTER - IIIRESEARCH METHODOLOGY
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OBJECT OF THE PROJECT
Defining the objectives is the most crucial part of the research. If the objectives are not clear the
researcher cannot identify the problem and thus cannot find a way of the problem.
This project is based on the study of relative performance towards ITC sunfeast and Britannia
biscuits.
Objectives of the study are:
1. To know about company (ITC LTD) profile, product line, and variant.2. To know the product, variant and sku of the sunfeast biscuits.3. To study the relative performance of sunfeast biscuit versus Britannia.4. To know the market share of sunfeast and Britania, and To know the visibility, supply,
distribution channel, promotional activities, of sunfeast in market.
5. To know the level of awareness of the customer about the existing biscuit in the market.6. To know the customer perception about sunfeast, and Britannia.7. To know the customer satisfaction level and customer preference level in term of brand,
price, quality, quantity, packaging.
8. To know the retailers preferences, margin, product awareness and perception.9. To know the level of satisfaction of the retailers and wholesalers with respect to credit
line and product delivery provided by wholesale provider.
10.To know the company distribution channel, different process of supply.11.To know about the organizational hierarchy of ITC LTD.
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RESEARCH METHODOLOGY
This chapter describes the methodology of the study. This project is based on information
collected from primary sources. After the detailed study, an attempt has been made to present
comprehensive analysis of performance of ITC sunfeast biscuit versus britania and sunfeastconsumed by the people. The data had been used to cover various aspects like
consumption, retailers preference and retailers satisfaction, customer preference and
satisfaction regarding sunfeast and britania. In collecting requisite data and information
regarding the topic selected, I went to the retailers and customer of patna and collected the data.
Survey design:
The study is a cross sectional study because the data were collected at a single point of time. For
the purpose of present study a related sample of population was selected on the basis of
convenience.
Sample Size and Design:
A sample of 100 people was taken on the basis of convenience. The actual customer andretailers were contacted on the basis of random sampling
Research Period:
Research work is only carried for 2 or 3 weeks.
Research Instrument:
This work is carried out through self-administered questionnaires. The questions included were
open ended, dichotomous and offered multiple choices.
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Data Collection:
The data, which is collected for the purpose of study, is divided into 2 bases:
Primary Source: The primary data comprises information survey ofComparative study
of retailer and customer behavior towards ITC sunfeast britinnia and parle . The data has been
collected directly from respondent with the help of structured questionnaires.
Secondary source: the secondary data was collected from internet and reference from library.
Data Analysis:
The data is analyzed on the basis of suitable tables by using mathematical techniques. The
technique that I have used is bar graphs.
Limitations of the study
In attempt to make this project authentic and reliable, every possible aspect of the topic was kept
in mind. Nevertheless, despite of fact constraints were at play during this project. The main
limitations are as fellow.
Due to limitation of time only few people were selected for the study. So the sample ofcustomers and retailers was not enough to generalize the finding of the study.
The main source of data for the study was primary data with the help of self-administered
questionnaires. Hence, the chances of unbiased information are less.
People were hesitant to disclose the true facts.
The chance of biased response cannot be eliminated though
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Chapter - VI
Analysis and Interpretation of Data
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BASED ON CONSUMERS
ANALYSIS OF THE STUDY ON CONSUMERS
HOW DO YOU COME TO KNOW ABOUT SUNFEAST BISCUIT.
FACTORS NUMBER OF RESPONDENTS
ADVERTISEMENT 60
FAMILY / FRIEND 20
RETAILER 15
ANY OTHER 5
TABLE:1
chart-1
From the above analysis of given sample of 100 respondents it is concluded that out of 100
people 60 people know sunfeast biscuit through advertisement while 20 people through family
and 15 people follow by retailers.
0
10
20
30
40
50
60
60
20
15
5NOOF
CONSUMERS
FACTORS
FACTORS AFFECTING AWARENESS
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AWARENESS ABOUT SUNFEAST [ ITC brand ]
chart-2
From the above analysis out of 100 people 76 people know that sunfeast is of ITC brand. But 24
people donot know about this.
0
10
20
30
40
50
60
70
80
YES NO
76
24
NOOFCONSUMERS
AWARENESS
SUNFEAST IS ITC BRAND
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WHICH FEATURE OF SUNFEAST INSPIRE YOU TO BUY
FEATURES NUMBER OF RESPONDENTS
QUALITY 55
PRICE 5
QUANTITY 5
PACKAGING 23
ANY OTHER 7
CHART-3
From the above analysis out of 100 people 55 people Like the quality of sunfeast and 23 people
like their packaging.
55
5
5
23
7
FEATURE OF SUNFEAST
QUALITY
PRICE
QUANTITY
PACKAGING
ANY OTHER
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REASON FOR SWITCHING OVER TO OTHER BRANDS
REASONS NO OF RESPONDENTS
TO CHANGE THE TASTE 53
DUE TO OFFERS ON OTHER 21
ECONOMICAL (PRICE) 13
HABIT 11
ANY OTHER 2
TABLE:4
CHART-4
From the above analysis out of 100 people 55 people switching over to other brand due to
change taste and 21 people due to offers and value added products .
0
10
20
30
40
50
60
CHANGE
TASTEPRICE
HABITOFFERS
OTHERS
53
13
1121
2
NOOFRESPONDENTS
SWITCHING OVER TO OTHER BRAND
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WHICH BRANDS COMES IN YOUR MIND FIRST WHEN PURCHASE BISCUIT
BRAND NO OF RESPONDENTS
BRITINNIA 48
SUNFEAST 19
PARLE 29
OTHER 4
Table: 5
CHART: 5
From the above analysis out of 100 people.. there are 48 people first preference is britinnia, 29
parle, 19, people sunfeast, and 4
0
5
10
15
20
25
30
3540
45
50
BRITINNIA SUNFEAST PARLE OTHER
48
19
29
4NOOFRESPONDENT
S
BRAND
BRAND LOYALITY
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WHICH CATOGARY OF BISCUIT YOU LIKE MOST.
TABLE: 6
SUB CATOGARY NO OF RESPONDENTS
GLUCOSE 23
SNACKY 18
CREAM 44
MARIE 9
ANY OTHER 6
CHART- 6
From the above analysis out of 100 people.. there are 44 people who likes cream biscuit and at
the second 23 people said they likes glucose biscuits.
23
16
44
116
CUSTOMER CHOICE
GLUCOSE
SNACKEY
CREAM
MARIE
OTHER
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PACKAGING DO YOU LIKE MOST.
TABLE: 7
PACKAGING NO OF RESPONDENTS
PARLE 20
BRITINNIA 36
SUNFEAST 40
ANY OTHER 4
CHART-7
From the above analysis out of 100 people.. there are 40 people who likes SUNFEAST
packaging and at the second 36 people likes Britinnia biscuits packaging.
0
5
10
15
20
25
30
35
40
SUNFEASTBRITINNIA
PARLE
OTHER
40
36
20
4
NOOFRESPONDENTS
COMPANY PACKAGING
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DO YOU FIND SUNFEAST BISCUIT IN YOUR NEAR OUTLET
TABLE- 8
SUNFEAST OUTLET NO OF RESPONDENTS
YES 91
NO 9
CHART-8
From the above analysis out of 100 people . 91 people say, they find sunfeast in near outlet in
patna.
NO OF OUTLET
YES
NO
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PRICE CATOGARY SUITABLE FOR YOU
TABLE- 9
PRICE CATOGARY NO OF RESPONDENTS
5 38
10 34
15 14
20 6
25 8
CHART- 9s
According to the above analysis it is concluded that in 100 people 38 people like 5 rupee pack
while 34 people like 10 rupee pack.
38
34
14
68
NO OF RESPONDENTS OF PARTICULAR CATOGARY
5 RUPEE
10 RUPEE
15 RUPEE
20 RUPEE
25 RUPEE
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Chapter - V :
Findings, Conclusion and Suggestions
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FINDING
RETAILER RESEARCH:
Retailer research deals with retailer and their problems and solution to the problems. In this I