Description
Wagh Bakri Tea Group is a Premium Tea Company, having presence in tea business since 1892. Today it is the 3rd largest packaged tea company in India with a turnover of over Rs. 700 Cr. and over 30 million Kgs of tea distribution.
COMPANY PROFILE
Name of the company:
Wagh Bakri ltd.
Registered office: Wagh Bakri House, Opp. Parimal Garden. Ahmedabad-380006.
Main business and Product Range
Main business of Wagh Bakri ltd. Is producing Only Tea, Flavors Tea. Wagh Bakri ltd today is the fastest growing sanitaryware Company in India Wagh Bakri has launched its one of kind M.Pradesh, Gujarat, Mumbai, China, Kenya, and Sri Lanka etc.
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The product range of Wagh Bakri ltd. Are as follows:? Wagh Bakri ? Mile ? Good Morning ? Masala Tea ? Masala Chai Tea Bags ? Instant mix Tea ? Lepton Lemon Tea ? Dling Tea ? Organic Darjeeling
Form of the Organization
Wagh Bakri ltd is a public limited
company. The term organization refers to the collection of the different constituents of business in order to establish harmonious relationship between flexibility in their function The firms of organization previls in the business world are as follow:? Sole Proprietorship ? Partnership ? Joint Stock Company ? Co-Operative society ? Hindu Undivided Family ? Public enterprise
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A Brief History
Ahmedabad-based Gujarat Tea Processors and Packers Ltd, which markets tea under the Wagh Bakri brand has entered the retail franchise format with the unveiling of ‘Wagh Bakri Tea Lounge’ in Mumbai. Gujarat Tea Processors is the third largest tea packaging company in the domestic market with annual distribution of 23 million kg of tea. The group’s first tea lounge was inaugurated on Sunday at Vile Parle (East) in Mumbai by the former Lok Sabha Speaker, Mr. Manohar Joshi, in the presence of Mr. Piyush Desai, Chairman, Wagh Bakri Group, marking a milestone in its 100-year-old legacy, the company said here on Monday. The company also plans to roll out a chain of tea parlours in the next one year. Choices aplenty The lounge would offer its consumers tea as per their choice and with snacks. Tea enthusiasts can experiment with a variety of tea that will allow them to mix-and-match their choice of blend from amongst the strong
Assam tea, organic tea, green tea, Darjeeling tea, the South Indian tea and flavoured tea.
Wagh Bakri adds value to the lounge by offering consumers a chance to taste their tea before purchase. More flavours Mr. Desai said that Wagh Bakri also intends to bring tea flavours from other countries such as China, Kenya and Sri Lanka. The company has partnered with Radha Krishna Hospitality Services Pvt Ltd to manage the operations of the parlour.
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More Stories on: Channels and Franchises | Brands | Tea | Gujarat
It?s a familiar but audacious picture that is slowly emerging. Familiar because it is an oft-told battle of a domestic corporate David taking on the might of multinational Goliaths Hindustan Unilever Ltd (HUL) and Tata Tea Ltd. Audacious, because the Indian company Wagh Bakri Group is now chalking out fresh plans to gain a competitive edge in the Rs 5,000 crore Indian branded tea industry. For starters, Wagh Bakri is extending its presence, manufacturing facility and distribution network to pump up volumes. The group?s game plan includes, retail initiatives, high-voltage mass media advertisings campaigns and export initiatives. The vital question is: Will Wagh Bakri?s growth strategy change the market dynamics of the branded tea sector in India? On the group?s strategy, Piyush Desai, chairman & managing director of Wagh Bakri Tea Group says, “Our main objective is to become a national player by the end of this year. We are setting up a new facility at Nadiad soon. We are now the third largest tea brand in India.” At present, Wagh Bakri has presence in Gujarat, Rajasthan, Madhya Pradesh and Maharashtra. According to Desai, the group is planning to foray into southern states as part of its growth strategy. To start with, the group is planning to introduce its flagship brand Wagh Bakri in Karnataka. In the Rs 5,000 crore Indian branded industry, Tata Tea currently enjoys volume leadership while Hindustan Unilever has value leadership.” With its national brand strategy, Wagh Bakri can pose a major threat to HUL and Tata Tea. Very soon, the branded tea sector will witness a major tussle between national and regional players. As a result, this sector is
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expected to register a 15 % growth this year,” said an analyst based in Mumbai. „Seeing is believing? seems to be the mantra for Wagh Bakri.To gain visibility for its brands, the group is hiking its advertising budget by 50 % this year, according to Desai. To woo consumers, the company is in the process of rolling out an aggressive print campaign with the tag line „Perfect Rishtey Banaye? . “To support our print ads, we are also beaming television commercials on leading channels. Also, we are strengthening our pan-India distribution network, this year” said Desai. Currently, the company is exporting its brands to the USA, United Kingdom and gulf countries.
Top Stories
India Wagh Bakri opens first tea lounge in Mumbai Ahmedabad | Monday, Aug 11 2008 IST
India
The first 'Tea lounge', where people would have choice to taste tea before purchasing the product, has opened at Vile Parle, a western suburb of Mumbai. The Wagh Bakri group, the third largest packet tea company in the domestic market, with a turnover of Rs 300 crore and having a strong presence in Gujarat, Madhya Pradesh and Rajasthan, has made its presence in Maharashtra through its foray into retail franchise format with the launch of its first ''Wagh Bakri Tea Lounge'' in Vile Parle. Piyush Desai, Group Chairman of Wagh Bakri Tea Group, said ''we opened a tea
Asia
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lounge in Mumbai yesterday with an objective to offer consumers with a variety of tea that will excite their palates and allow them to ''Mix and Match'' their choice of blend. He said the lounge offers a wide range of tea, similar to the various forms of Narishakti, giving consumers an opportunity to get acquainted with strong Assam tea, a healthy Organic tea, a relaxing Green tea, an uplifting Darjeeling tea, a refreshing South Indian tea and Flavoured tea. The Tea Lounge also boasts of a range of snacks from the traditional fare to the classical Iranian offerings that go well with favourites like Adrak Chai and Pudhina Chai. Mr Desai said, ''our aim is to make people feel good, healthy and provide them with unique offerings. By Opening this Tea Lounge, we intend to bring various tea flavours from various countries, including China and Sri lanka''. ''We have partnered with Radha Krishna Hospitality Services Pvt. Ltd (RKHS). who will manage the operations of the parlour. This is the first tea lounge in the Mumbai city and we plan to roll out number of outlets in other parts of country'', he said. The company plans to roll out into more cities across the country by next year. -- (UNI) -- 11BY10.xml
World
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ungratefuls Ritwik sets up title clash with Iskandar HC orders notice to Govt on Premananda\'s petition for release People will vote out Cong-DMK in LS poll: BJP BJP-led NDA will come to power at Centre: Venkaiah Wagh Bakri enters retail franchise format with tea lounges Gujarat-based tea company Wagh Bakri announced its entry into the retail franchise format with the unveiling of 'Wagh Bakri Tea Lounge' in Mumbai. The lounge would offer a range of tea along with snacks served in traditional styles and flavours. Piyush... READ FULL ARTICLE What others report on the same story Related Stories 3 documents First reported 22 hours ago - Updated 9 hours ago Omar Bakri's son attempts to claim back 14,000 Abdul Fostock, 25, was stopped by officers in Heathrow in October 2006 when he was about to travel to Beirut to visit his father Omar Bakri.London's Southwark Crown Court heard that Fostock was carrying 14,420 in a series of envelopes marked 'daddy', ... [9 hours ago - Telegraph] Entities: Omar Bakri Muhammad, Khalil JARRAYA, Beirut, London, Crime 4 documents First reported 09/16/2008 - Updated 09/17/2008 Rise in tea exports to 105.6 mn /kg in Jan-July ’08
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mn /kg in Jan-July 08 - - livemint.com Log has written WEDNESDAY, SEPTEMBER 17, 2008 3:16 PM IST 1 106 2 11 3 4 88 5 s 6 7 8 9 109 10 111 81 107 98 101 104 110 Partners ... [09/17/2008 Livemint.com] Entities: Baghdad, New Delhi (India), Projection, HT Media Ltd. 2 documents First reported 09/17/2008 - Updated 09/17/2008
Omar Bakri Muhammad Mccartney Receives Muslim Death Threats Over Israel Concert Paul McCartney of Beatles fame has become the target of a Muslim cleric's fatwa after deciding to perform in Tel Aviv as scheduled on September 25.Islamic leader Omar Bakri issued his death threat during a weekly Internet broadcast from Lebanon, where ... [09/17/2008 - Truth News] Entities: Sir Paul McCartney, Threat, Omar Bakri Muhammad 3 documents First reported 22 hours ago - Updated 9 hours ago Omar Bakri's son attempts to claim back 14,000 Abdul Fostock, 25, was stopped by officers in Heathrow in October 2006 when he was about to travel to Beirut to visit his father Omar Bakri.London's Southwark Crown Court heard that Fostock was carrying 14,420 in a series of envelopes marked 'daddy', ... [9 hours ago - Telegraph] Entities: Omar Bakri Muhammad, Khalil JARRAYA, Beirut, London, Crime 4 documents First reported 09/16/2008 - Updated 09/17/2008 Rise in tea exports to 105.6 mn /kg in Jan-July ’08 mn /kg in Jan-July 08 - - livemint.com Log has written WEDNESDAY, SEPTEMBER 17, 2008 3:16 PM IST 1 106 2 11 3 4 88 5 s 6 7 8 9 109 10 111 81 107 98 101 104 110 Partners ... [09/17/2008 Livemint.com]
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Entities: Baghdad, New Delhi (India), Projection, HT Media Ltd. 5 documents First reported 09/16/2008 - Updated 09/17/2008
Tata Power Company Limited Yule to replant tea estates Kolkata based heavy engineering firm, Andrew Yule Corporation Limited (AYCL), is looking at extensive replantation of its tea gardens for the next 12 years.On the sidelines of the annual general meeting, Kallol Datta, chairman and managing director of ... [09/17/2008 - Business Standard India] Entities: Coal India Limited, Reliance Power Ltd, Modernization, Tata Power Company Limited 2 documents First reported 09/16/2008 - Updated 09/16/2008 New guidelines aim to boost tea exports Growing and brewing tea was elevated to an art form by Lu Yu of the Tang Dynasty (AD 618-907), whose treatise is considered the bible of tea culture throughout Asia.But the new government guidelines for growers and processors, to be released on October ... [09/16/2008 - China Economic Net] Entities: Inspection 2 documents First reported 09/17/2008 - Updated 09/17/2008 Mccartney Receives Muslim Death Threats Over Israel Concert Paul McCartney of Beatles fame has become the target of a Muslim cleric's fatwa after deciding to perform in Tel Aviv as scheduled on September 25.Islamic leader Omar Bakri issued his death threat during a weekly Internet broadcast from Lebanon, where ... [09/17/2008 - Truth News] Entities: Sir Paul McCartney, Threat, Omar Bakri Muhammad 4 documents First reported 09/14/2008 - Updated 09/14/2008
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McCartney Threatened with Suicide Bombing if He Sings in Israel (IsraelNN.com) Muslim Sheikh Omar Bakri has threatened to make singer Paul McCartney a target of suicide bombers if he carries out his plans to perform in Israel later this month, the London Sunday Express reported. One website called McCartney an infidel.McCartney ... [09/14/2008 - Israel National News] Entities: Sir Paul McCartney, Suicide Bomb, Threatened 3 documents First reported 09/12/2008 - Updated 09/13/2008 Radical Muslims warn of '9/11' One speaker at the meeting, held on the anniversary of the attacks in America, told the assembled crowd that the West should 'listen to the warnings.' The meeting, in front of a 100-strong crowd at a community centre on the Lea Bridge Road in Walthamstow, ... [09/13/2008 - Telegraph] Entities: Saiful Islam, Omar Bakri Muhammad, Abu Qatada, Hatred 2 documents First reported 09/15/2008 - Updated 09/15/2008 Plaza Premium Lounge opens at Muscat International Airport; enhancing airport ambience and experience 15/09/08 OMAN. The Plaza Premium Lounge, a new VIP lounge for travellers in Oman, has been opened at Muscat International Airport in a ceremony held at the airport.Ministry of Finance Secretary General for Taxation and Oman Airports Management Company (OAMC) SAOC ... [09/15/2008 - Moodie Report] Entities: Muscat, Environment, PPL Corporation, Atmosphere, Wi-Fi 2 documents First reported 09/14/2008 - Updated 09/15/2008 Farmers to Sign Supply Deal The Nation (Nairobi)Tea growers will soon be required to sign green leaf supply agreements with their respective factories to curtail the problem of green leaf diversion.According to draft guidelines presented at a tea forum held in June by industry regulator ... [09/15/2008 - AllAfrica.com]
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Entities: Nyamira (Kenya), Kiambu (Kenya) Wagh Bakri plans to enter food sector Saturday, January 01, 2005 By A Correspondent, Kolkata The Wagh Bakri Group, among the largest regional players in the tea industry with significant market shares in Gujarat, Madhya Pradesh and Rajasthan, is contemplating entering into business involving other food items. Piyush O Desai, Chairman of the Wagh Bakri Group, said that the group was studying various opportunities closely. A final decision on the matter was yet to be taken, he said. According to him, the group would like to set up a food-processing unit in Gujarat and would use its existing marketing network for distribution of the products. He indicated it would be a food business on FMCG lines. "We would like to reach out to the common man with a product that would be affordable for them but we will not compromise on quality. We would like to maintain the best quality because our brand, Wagh Bakri, stands for quality," Desai said. The Wagh Bakri Group has three tea companies within its fold. The first and the oldest (set up in 1917) is Gujarat Tea Depot Co Ltd and it owns the Wagh Bakri brand name. The second is Standard Tea Processing Co Ltd, which focuses mostly on tea buying and blending. The third company is Gujarat Tea Processors and Packers Ltd and it sells the teas. The Wagh Bakri Group has registered a turnover of around Rs 190 crore during 2003-04. In the current financial year, 2004-05, the turnover of the group is expected to cross Rs 200 crore.
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Mission and Vision
mission was to reach out to the masses with good quality product at an affordable price & build a brand.
Wagh Bakri Ltd
Business Philosophy
1. Earn Money 2. Customer Satisfaction 3. Provide Best to the Customer 4. No Compromising the quality of their product
Special achievements
? INDIA?S FIRST TO LAUNCH WIDEST Selling RANGE. ? INDIA?S FIRST TO INTRODUCE Flavours Tea. ? INDIA?S FIRST TO GET ISO 9001. ? INDIA?S FIRST TO GET OHSAS 2000 ? INDIA?S FIRST TO GET SA 8000
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Omar Bakri Muhammad
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Existing management group Key Personnel Board of Directors
Mr. Manohar Joshi, Mr. Piyush Desai.
Marketing
K S Vaidyanathan, Senior Vice President (Marketing)
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MARKETING
HISTORY OF Wagh Bakri PRODUCT HSTORY OF TEA
India Wagh Bakri opens first tea lounge in Mumbai Ahmedabad | Monday, Aug 11 2008 IST The first 'Tea lounge', where people would have choice to taste tea before purchasing the product, has opened at Vile Parle, a western suburb of Mumbai. The Wagh Bakri group, the third largest packet tea company in the domestic market, with a turnover of Rs 300 crore and having a strong presence in Gujarat, Madhya Pradesh and Rajasthan, has made its presence in Maharashtra through its foray into retail franchise format with the launch of its first ''Wagh Bakri Tea Lounge'' in Vile Parle. Piyush Desai, Group Chairman of Wagh Bakri Tea Group, said ''we opened a tea lounge in Mumbai yesterday with an objective to offer consumers with a variety of tea that will excite their palatesand allow them to ''Mix and Match'' their choice of blend. He said the lounge offers a wide range of tea, similar to the various forms of Narishakti, giving consumers an opportunity to get acquainted with strong Assam tea, a healthy Organic tea, a relaxing Green tea, an uplifting Darjeeling tea, a refreshing South Indian tea and Flavoured tea. The Tea Lounge also boasts of a range of snacks from the traditional fare to the classical Iranian offerings that go well with favourites like Adrak Chai and Pudhina Chai. Mr Desai said, ''our aim is to make people feel good, healthy and provide them with unique offerings. By Opening this Tea Lounge, we intend to bring various tea flavours from various countries, including China and Sri Lanka''. ''We have partnered with Radha Krishna Hospitality Services Pvt. Ltd (RKHS). Who will manage the operations of the parlour? This is the first tea lounge in the Mumbai city and we plan to roll out number of outlets in other parts of country'', he said. The company plans to roll out into more cities across the country by next year. ? (UNI) -- 11BY10.xml
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Product
1) PRODUCT
? A Product is anything that can offered to a market to a satisfy a want or
need. Products that are marketed include physical good, services, experiences, person, events, places, properities, organization, information, and ideas. ? Kotler & Pri.Management has identified five levels of product as under.
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POTENTIAL PRODUCT
AUGMENTED PRODUCT
CORE BENEFIT
EXPECTE-D PRODUCT
BASIS PRODUCT
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? CORE BENEFIT The fundamental level is the core benefit. The service or benefit the customer is really buying is core benefit of the product. ? BASIC PRODUCT AT the second lavel, the marketer has to turn the benefit of the core product. ? EXPECTED PRODUCT At, third level the marketer prepare on expected product a set of attribute and condition buyers normally expect when they purchase of this product. ? AUGMENTED PRODUCT At the fourth level the marketer prepare an augmented product that axceeds customer expectation. ? POTENTIAL PRODUCT At the fifth level stands the potential product which encompasses all the possible transformations the product or offering might undergo in the future.
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PRICE
"Skimming" is a profit-maximization strategy.
PRICING
Price is one of the best most important elements of marketing mix that generates revenue. The pricing determining on the basis of the kind of brand product they use, their reputation, professional staff, degree of competition etc. A particular product or services is acceptable to the customer at a particular price and if the price is increase , it is likely that the same product or service might become that less acceptable to the customer. We can conclude it in 6 steps procedure.
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Selecting the pricing objective Determining Demand Estimating Cost Analyzing competitors cost, price and offer Selecting a pricing method Selecting the final price
1)
Selecting the pricing objectives.
The clear the Wagh Bakri product objective, the easier it is to set price. A Wagh Bakri product can purchase any of the 5 major through pricing.
? ? ? ?
Survival Maximum current profit Maximum market share Maximum market skimming
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? 2)
Product or quality leadership
Determining demand
Each price will lead to a level of demand and therefore have a different impact on Wagh Bakri objective. In normal case demand and price are inversely
3)
Estimating cost
The Wagh Bakri product want to change a price that covers its purchasing product paying remuneration to the staff.
4) Competitors cost.
The Wagh Bakri must take the competitors cost, price, and reaction into account.
5) Selecting the pricing method
? ? ? ? Pricing Value pricing Tangent Return pricing Discount pricing
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PLACE
PLACE
These two characteristics make the channel very short & direct. Most services are distributed through direct sales. The inseparability, i.e. in case of service production can’t be separated from selling; services must be created and sold at same time. (Place in Ahmedabad)
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PROMOTION
PROMOTION
Meaning : Promotion can be defined as “Activities that communicate the product or service and its merits to target customers and persuade them to buy.
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Advertisement : Source of Advertisement: ? ? ? ? ? ? News paper Magazines T.V Web site Pemflate Radio
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Organization of marketing department Marketing Department
1. Biswa Behari Chatterjee (General Manager) 2. A Sing (General Manager) 3. K Vaidyanath (Deputy General Manager)
Product Planning Product Range In Wagh Bakri there are Lots of
Products in 13 Different colors & Shape. ? Wagh Bakri ? Mili ? Good Morning ? Masala Tea ? Masala Chai Tea Bags ? Instant mix Tea ? Lepton Lemon Tea ? Dling Tea ? Organic Darjeeling
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PRODUCT LINE & PRODUCT MIX
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Product line and mix
A product line can be a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through same types of outlets, or fall within given price ranges For any business unit, it is very much important to take a product line decision which includes mainly the following:1. Product line length 2. Product line modernization 3. Product line featuring
The product line & product mix of Wagh Bakri Ltd. are as follows:No Product Code 1 Wagh Bakri Bhuki 50 2 2 Wagh Bakri Bhuki 100 3 3 Wagh Bakri Bhuki 250 4 4 Wagh Bakri Bhuki 500 5 5 Wagh Bakri Bhuki 1 kg. 6 6 Wagh Bakri Patti 25 11 7 Wagh Bakri Patti 50 12 8 Wagh Bakri Patti 100 13
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9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
Wagh Bakri Patti 250 (P) Wagh Bakri Patti 500 (P) Wagh Bakri Patti 1 kg.(P) Wagh Bakri Patti 1 kg.(J) Mili Patti 2 Rs. Mili Patti 5/10 Rs. Mili Patti 50 gm. Mili Patti 100 gm. Mili Patti 250 gm.(P) Mili Patti 250 (J) Mili Patti 1 kg. Mili Sample 1 Rs. Mili Fanning 50/100 Good Morning 250 gm. Good Morning 500 gm. Navchetan 250/1 kg.
14 16 18 19 41 109 110 42 43 44 45 49 40 51/52 75 76 85/86
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Product decisions Product decisions basically focuses on the BRANDING & PACKAGING of the product. 1. Branding All the product of Wagh Bakri whether Tea, and other accessories are marketed under the only brand name of Wagh Bakri.ere There can be several branding decisions: ? ? ? ? ? To Brand or Not To Brand Brand Name Selection Brand Sponsor Brand Strategy Brand Repositioning
Wagh Bakri Ltd adopts manufacturer?s Brand Strategy, i.e. before the name of every product Wagh Bakri has to be literally added and spoken.
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Today, the Brand however, is showing signs of stagnation in consumption. 2. Packaging
According to marketing, packing may be defined as all the activities of designing and producing the container for a product to packing is important elements for selling the product or attracting consumer from the market. Developing an effective package requires a number of decisions. From the perspective of both the firm and consumers, packaging must achieve a number of objectives:? ? ? ? ? Identify the brand Convey descriptive & persuasive information Facilitate product transportation and protection Assist at – home storage & Aid product consumption
Wagh Bakri Ltd. packed their product in the box when they received the order. They have a special department for the packing of the product.
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PKD BY: J.K.D. GLOBAL PVT. LTD. 1, R.N. Mukherjee Road, 5th Floor, Room No. 51, Kolkata-700001 New product Development Companies need to grow their revenue over time by developing new products and expanding in to new market new product development shapes the company?s future; improved or replacement product will maintain or build sales. We can identify six categories of new product:1. New-to-the-World-product 2. New product Lines 3. Addition to existing product lines 4. Improvements & Revision of existing 5. Repositioning 6. Cost Reductions
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Product Life Cycle A company?s positioning and differentiation strategy must change as the product, market, the competitors change over the life cycle. 1. 2. 3. 4. Introduction Growth Maturity Decline
Market segmentation A market segment consists of a group of customers who share a similar set of needs and wants. A company needs to identify which market segments it can serve effectively. Such decisions require a keen understanding a consumer behavior and careful strategic thinking. market segmentation have four types they are shown in the following:? ? ? ? Geographic segmentation Demographic Segmentation Psychographic Segmentation Behavioral segmentation
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Geographic segmentation calls for dividing the market in to different units such as nations, stats, regions, countries, cities or neighborhoods. Demographic Segmentation, the market is dividing in to groups on the bases of variables such as age, family life cycle, gender, income, social class etc. Psychographic Segmentation, buyers are divided in to different groups on the basis of psychological traits, life cycle, or values. Behavioral segmentation buyers are divided in to different groups on the basis of their knowledge of product, attitude towards product, use of products and response to the product.
Pricing The amount of money charged for a product or service, or the sum of the values that consumers exchange for the benefits of having or using the product or service. The prices of the product are so low that every one can afford it. It is affordable to all. Factors considered while setting prices
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? Marketing objectives:Before setting price, the company must decide on its strategy for the product. If the company has decide and selected its target market and positioning carefully, then its marketing- mix strategy, including price, will be fairly straight forward. Wagh Bakri limited can set prices low to prevent competition and set prices at competitor?s level to stabilize the market. ? Costs :Costs can set the floor for the price that Wagh Bakri limited can charge. It wants a price that both covers all its cost for producing, distributing and selling the product and delivers a rate of return for its efforts and risks. Pricing Approaches Wagh Bakri limited deciding their price on the basis of the competition. Channels of Distribution Distribute means spread out. Channels of distribution indicate result of path way through good & services flow & reach to customer. Distribution Channel
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includes all the intermediaries of the market such as agents, merchandisers, facilitators, wholesalers and retailers. Dealers use this kind of channel for selling the product to the customer in the market. In the Wagh Bakri limited they have 600 distributors & 15000 Retailers. The channels of distribution of Wagh Bakri limited are as follow:1. Distributors 2. Dealers 3. Retailer 4. Customer Decision about channels:In Wagh Bakri limited first of all the decision of channels are taken by the company. They sell their products to the distributors. After this distributor sells the products to the retailers so in this case decision is taken by distributors. Then a retailer sells products to the customer. Here decision is taken by the retailers. Wholesaling:Wholesaling includes all the activities involved in selling good or services to those who buy for resale or business use. Wholesaling excludes manufactures and farmers because they are engaged primarily in production, and it excludes retailers. Wholesalers pay less
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attention to promotion, atmosphere and location. They are also known as distributors. In Wagh Bakri limited they have wholesaler for the sale of their product. Retailing:Retailing includes all the activities involved in selling goods or services directly to final consumers for personal, nonbusiness use. A retailer or retail store is any business enterprise whose sales volume comes primarily from the retailing. Wagh Bakri limited is also doing retailing through their retailer. Sales Promotion Sales Promotion tools and Programmers:Sales promotion, a key ingredient in marketing campaigns, consist of a collection of incentive tools, mostly short term, designed to simulate quicker or greater purchase of particular products or services by consumer or he trade. There are two types of sales promotion:-
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(1) Consumer Sales Promotion:Where any benefits are given to consumers then it is called Consumer Sales Promotion. It includes samples, coupons, cash refund, offers, prices off, premiums, prizes, patronage rewards, free trials, warranties, tie-in-promotion, cross promotion, point of purchase displays and demonstration. (2) Trade Sales Promotion:Same way, where any benefits are given to the wholesalers and middle men then it is called Trade Sales Promotion. It includes allowances, advertisement allowances, trade shows and conventions, sales contest, free goods, free gifts on special discounts, etc. In Wagh Bakri limited they are giving sales promotion to their dealers. They give six months targets to the dealers for the sales. If they fulfill this condition they were given gift.
FOUR C’S CUSTOMER 1) 2) 3) 4) Customer Solution Customer Cost Convenience Communication
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5)
Public relation and Decision:
A public is any group that has an actual or potential interest in or impact on company?s ability to achieve its objectives. Public relations involve a variety of programmer designed to promote or protect a company?s image or its individual product. Wagh Bakri limited has good relation with the public. They can satiesfied the demand of the public. Sales Force Management: Once the company has established objectives, strategy, structure, size and compensation, it has to recruit, select, train, supervise, motivate and evaluate sales representatives. For this purpose sales management is necessary. Sales force management in Wagh Bakri limited are follows: ? Managing the Sales force ? Recruiting and Selecting Sales Representatives ? Training Sales Representatives ? Supervising Sales Representatives ? Motivating Sales Representatives
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Advertising Objectives: An advertising objective is a specific communication task and achievement level to be complished with the specific audience in a specific audience in a specific period of time. Advertising objectives can be classified as follows: 1. Informative advertising. 2. persuasive advertising 3. reminder advertising 4. reinforcement advertising
Setting budgets Advertising is treated as current expense; part of it is really an investment in building equity. Company must set its advertising budget. This reduces the company?s reported profit and therefore limits the no of new product launches a company can undertake in anyone year. There are some specific factors which are taken into consideration while setting the budget. They are as follows:
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? stage in the product life cycle ? market share and consumer based ? competition and clutter ? advertising frequency ? product substitutability Strategies and Tools:The advertisement of Wagh Bakri limited creates effective advertising messages. Wagh Bakri uses different tools for the advertisement of their product. They are as follows:-
Advertisement tools 1-Elecronic Media: ? Television ? Radio 2-Print Media: ? Newspapers ? Magazines ? Journals
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Marketing research: Marketing research is the process of systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. A company can obtain marketing research in a number of ways. Marketing research firms falls into three categories: 1- Syndicate-service research firm 2- Custom marketing research firm 3- Specialty-line marketing research firms Wagh Bakri ltd today fastest growing company. Wagh Bakri is also doing marketing research for their products. Wagh Bakri ltd is doing marketing research for the following purpose:? ? ? ? New product demand Product enrichment For underwriting consumer attribute Launching a new product
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MARKETING RESEARCH PROCESS
Define The problem And Research Objective Develop The Research Plan Collect The Information Analysis The Information Present The Finding Make The Decision International Marketing International marketing means marketing with the foreign country. Here the company buy or sell products from another country. Wagh Bakri limited is doing 15% international marketing. They were doing dealing mostly with China, Kenya and Sri Lanka and American Countries.
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FINDINGS
? People in the market prefer Wagh Bakri as a trustworthy brand name and for its reasonable price. Most of the consumers are of the view that they have never found any type of defect in Wagh Bakri?s product. This company is well known for its quality. There is no category of quality standards in this company. It produces only high quality products and never compromise with second quality
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CONCLUSION
Hereby We have completed Our project report on Wagh Bakri ltd. The successful completion of this report is possible only with the help of my college and Teachers. Practical knowledge is as important as theoretical knowledge. The purpose of preparing this project report is to get an idea about various aspects of marketing management and to get knowledge about market research. This project report has provided as an opportunity to get a brief view of the market for the chain of Tea and other product. This project report has thought us the important of hard work, Team work, has maid us how to coordinate thing labor and resources and has enriched our communications skills. The qualifications which have increased our knowledge notably.
Finally we would like to conclude our project on the note that, through this research we have been able to explore deeper insight into this topic and have been able to combine the essential elements that are to be taken care of.
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BIBLIOGRAPHY
Marketing management by Philip Kotler, copyright of 2006, 12 edition.
Search Engines
www.google.com www.rediff.com www.Wagh Bakri.com www. Premium Tea.com
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doc_663196340.docx
Wagh Bakri Tea Group is a Premium Tea Company, having presence in tea business since 1892. Today it is the 3rd largest packaged tea company in India with a turnover of over Rs. 700 Cr. and over 30 million Kgs of tea distribution.
COMPANY PROFILE
Name of the company:
Wagh Bakri ltd.
Registered office: Wagh Bakri House, Opp. Parimal Garden. Ahmedabad-380006.
Main business and Product Range
Main business of Wagh Bakri ltd. Is producing Only Tea, Flavors Tea. Wagh Bakri ltd today is the fastest growing sanitaryware Company in India Wagh Bakri has launched its one of kind M.Pradesh, Gujarat, Mumbai, China, Kenya, and Sri Lanka etc.
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The product range of Wagh Bakri ltd. Are as follows:? Wagh Bakri ? Mile ? Good Morning ? Masala Tea ? Masala Chai Tea Bags ? Instant mix Tea ? Lepton Lemon Tea ? Dling Tea ? Organic Darjeeling
Form of the Organization
Wagh Bakri ltd is a public limited
company. The term organization refers to the collection of the different constituents of business in order to establish harmonious relationship between flexibility in their function The firms of organization previls in the business world are as follow:? Sole Proprietorship ? Partnership ? Joint Stock Company ? Co-Operative society ? Hindu Undivided Family ? Public enterprise
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A Brief History
Ahmedabad-based Gujarat Tea Processors and Packers Ltd, which markets tea under the Wagh Bakri brand has entered the retail franchise format with the unveiling of ‘Wagh Bakri Tea Lounge’ in Mumbai. Gujarat Tea Processors is the third largest tea packaging company in the domestic market with annual distribution of 23 million kg of tea. The group’s first tea lounge was inaugurated on Sunday at Vile Parle (East) in Mumbai by the former Lok Sabha Speaker, Mr. Manohar Joshi, in the presence of Mr. Piyush Desai, Chairman, Wagh Bakri Group, marking a milestone in its 100-year-old legacy, the company said here on Monday. The company also plans to roll out a chain of tea parlours in the next one year. Choices aplenty The lounge would offer its consumers tea as per their choice and with snacks. Tea enthusiasts can experiment with a variety of tea that will allow them to mix-and-match their choice of blend from amongst the strong
Assam tea, organic tea, green tea, Darjeeling tea, the South Indian tea and flavoured tea.
Wagh Bakri adds value to the lounge by offering consumers a chance to taste their tea before purchase. More flavours Mr. Desai said that Wagh Bakri also intends to bring tea flavours from other countries such as China, Kenya and Sri Lanka. The company has partnered with Radha Krishna Hospitality Services Pvt Ltd to manage the operations of the parlour.
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More Stories on: Channels and Franchises | Brands | Tea | Gujarat
It?s a familiar but audacious picture that is slowly emerging. Familiar because it is an oft-told battle of a domestic corporate David taking on the might of multinational Goliaths Hindustan Unilever Ltd (HUL) and Tata Tea Ltd. Audacious, because the Indian company Wagh Bakri Group is now chalking out fresh plans to gain a competitive edge in the Rs 5,000 crore Indian branded tea industry. For starters, Wagh Bakri is extending its presence, manufacturing facility and distribution network to pump up volumes. The group?s game plan includes, retail initiatives, high-voltage mass media advertisings campaigns and export initiatives. The vital question is: Will Wagh Bakri?s growth strategy change the market dynamics of the branded tea sector in India? On the group?s strategy, Piyush Desai, chairman & managing director of Wagh Bakri Tea Group says, “Our main objective is to become a national player by the end of this year. We are setting up a new facility at Nadiad soon. We are now the third largest tea brand in India.” At present, Wagh Bakri has presence in Gujarat, Rajasthan, Madhya Pradesh and Maharashtra. According to Desai, the group is planning to foray into southern states as part of its growth strategy. To start with, the group is planning to introduce its flagship brand Wagh Bakri in Karnataka. In the Rs 5,000 crore Indian branded industry, Tata Tea currently enjoys volume leadership while Hindustan Unilever has value leadership.” With its national brand strategy, Wagh Bakri can pose a major threat to HUL and Tata Tea. Very soon, the branded tea sector will witness a major tussle between national and regional players. As a result, this sector is
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expected to register a 15 % growth this year,” said an analyst based in Mumbai. „Seeing is believing? seems to be the mantra for Wagh Bakri.To gain visibility for its brands, the group is hiking its advertising budget by 50 % this year, according to Desai. To woo consumers, the company is in the process of rolling out an aggressive print campaign with the tag line „Perfect Rishtey Banaye? . “To support our print ads, we are also beaming television commercials on leading channels. Also, we are strengthening our pan-India distribution network, this year” said Desai. Currently, the company is exporting its brands to the USA, United Kingdom and gulf countries.
Top Stories
India Wagh Bakri opens first tea lounge in Mumbai Ahmedabad | Monday, Aug 11 2008 IST
India
The first 'Tea lounge', where people would have choice to taste tea before purchasing the product, has opened at Vile Parle, a western suburb of Mumbai. The Wagh Bakri group, the third largest packet tea company in the domestic market, with a turnover of Rs 300 crore and having a strong presence in Gujarat, Madhya Pradesh and Rajasthan, has made its presence in Maharashtra through its foray into retail franchise format with the launch of its first ''Wagh Bakri Tea Lounge'' in Vile Parle. Piyush Desai, Group Chairman of Wagh Bakri Tea Group, said ''we opened a tea
Asia
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lounge in Mumbai yesterday with an objective to offer consumers with a variety of tea that will excite their palates and allow them to ''Mix and Match'' their choice of blend. He said the lounge offers a wide range of tea, similar to the various forms of Narishakti, giving consumers an opportunity to get acquainted with strong Assam tea, a healthy Organic tea, a relaxing Green tea, an uplifting Darjeeling tea, a refreshing South Indian tea and Flavoured tea. The Tea Lounge also boasts of a range of snacks from the traditional fare to the classical Iranian offerings that go well with favourites like Adrak Chai and Pudhina Chai. Mr Desai said, ''our aim is to make people feel good, healthy and provide them with unique offerings. By Opening this Tea Lounge, we intend to bring various tea flavours from various countries, including China and Sri lanka''. ''We have partnered with Radha Krishna Hospitality Services Pvt. Ltd (RKHS). who will manage the operations of the parlour. This is the first tea lounge in the Mumbai city and we plan to roll out number of outlets in other parts of country'', he said. The company plans to roll out into more cities across the country by next year. -- (UNI) -- 11BY10.xml
World
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ungratefuls Ritwik sets up title clash with Iskandar HC orders notice to Govt on Premananda\'s petition for release People will vote out Cong-DMK in LS poll: BJP BJP-led NDA will come to power at Centre: Venkaiah Wagh Bakri enters retail franchise format with tea lounges Gujarat-based tea company Wagh Bakri announced its entry into the retail franchise format with the unveiling of 'Wagh Bakri Tea Lounge' in Mumbai. The lounge would offer a range of tea along with snacks served in traditional styles and flavours. Piyush... READ FULL ARTICLE What others report on the same story Related Stories 3 documents First reported 22 hours ago - Updated 9 hours ago Omar Bakri's son attempts to claim back 14,000 Abdul Fostock, 25, was stopped by officers in Heathrow in October 2006 when he was about to travel to Beirut to visit his father Omar Bakri.London's Southwark Crown Court heard that Fostock was carrying 14,420 in a series of envelopes marked 'daddy', ... [9 hours ago - Telegraph] Entities: Omar Bakri Muhammad, Khalil JARRAYA, Beirut, London, Crime 4 documents First reported 09/16/2008 - Updated 09/17/2008 Rise in tea exports to 105.6 mn /kg in Jan-July ’08
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mn /kg in Jan-July 08 - - livemint.com Log has written WEDNESDAY, SEPTEMBER 17, 2008 3:16 PM IST 1 106 2 11 3 4 88 5 s 6 7 8 9 109 10 111 81 107 98 101 104 110 Partners ... [09/17/2008 Livemint.com] Entities: Baghdad, New Delhi (India), Projection, HT Media Ltd. 2 documents First reported 09/17/2008 - Updated 09/17/2008
Omar Bakri Muhammad Mccartney Receives Muslim Death Threats Over Israel Concert Paul McCartney of Beatles fame has become the target of a Muslim cleric's fatwa after deciding to perform in Tel Aviv as scheduled on September 25.Islamic leader Omar Bakri issued his death threat during a weekly Internet broadcast from Lebanon, where ... [09/17/2008 - Truth News] Entities: Sir Paul McCartney, Threat, Omar Bakri Muhammad 3 documents First reported 22 hours ago - Updated 9 hours ago Omar Bakri's son attempts to claim back 14,000 Abdul Fostock, 25, was stopped by officers in Heathrow in October 2006 when he was about to travel to Beirut to visit his father Omar Bakri.London's Southwark Crown Court heard that Fostock was carrying 14,420 in a series of envelopes marked 'daddy', ... [9 hours ago - Telegraph] Entities: Omar Bakri Muhammad, Khalil JARRAYA, Beirut, London, Crime 4 documents First reported 09/16/2008 - Updated 09/17/2008 Rise in tea exports to 105.6 mn /kg in Jan-July ’08 mn /kg in Jan-July 08 - - livemint.com Log has written WEDNESDAY, SEPTEMBER 17, 2008 3:16 PM IST 1 106 2 11 3 4 88 5 s 6 7 8 9 109 10 111 81 107 98 101 104 110 Partners ... [09/17/2008 Livemint.com]
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Entities: Baghdad, New Delhi (India), Projection, HT Media Ltd. 5 documents First reported 09/16/2008 - Updated 09/17/2008
Tata Power Company Limited Yule to replant tea estates Kolkata based heavy engineering firm, Andrew Yule Corporation Limited (AYCL), is looking at extensive replantation of its tea gardens for the next 12 years.On the sidelines of the annual general meeting, Kallol Datta, chairman and managing director of ... [09/17/2008 - Business Standard India] Entities: Coal India Limited, Reliance Power Ltd, Modernization, Tata Power Company Limited 2 documents First reported 09/16/2008 - Updated 09/16/2008 New guidelines aim to boost tea exports Growing and brewing tea was elevated to an art form by Lu Yu of the Tang Dynasty (AD 618-907), whose treatise is considered the bible of tea culture throughout Asia.But the new government guidelines for growers and processors, to be released on October ... [09/16/2008 - China Economic Net] Entities: Inspection 2 documents First reported 09/17/2008 - Updated 09/17/2008 Mccartney Receives Muslim Death Threats Over Israel Concert Paul McCartney of Beatles fame has become the target of a Muslim cleric's fatwa after deciding to perform in Tel Aviv as scheduled on September 25.Islamic leader Omar Bakri issued his death threat during a weekly Internet broadcast from Lebanon, where ... [09/17/2008 - Truth News] Entities: Sir Paul McCartney, Threat, Omar Bakri Muhammad 4 documents First reported 09/14/2008 - Updated 09/14/2008
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McCartney Threatened with Suicide Bombing if He Sings in Israel (IsraelNN.com) Muslim Sheikh Omar Bakri has threatened to make singer Paul McCartney a target of suicide bombers if he carries out his plans to perform in Israel later this month, the London Sunday Express reported. One website called McCartney an infidel.McCartney ... [09/14/2008 - Israel National News] Entities: Sir Paul McCartney, Suicide Bomb, Threatened 3 documents First reported 09/12/2008 - Updated 09/13/2008 Radical Muslims warn of '9/11' One speaker at the meeting, held on the anniversary of the attacks in America, told the assembled crowd that the West should 'listen to the warnings.' The meeting, in front of a 100-strong crowd at a community centre on the Lea Bridge Road in Walthamstow, ... [09/13/2008 - Telegraph] Entities: Saiful Islam, Omar Bakri Muhammad, Abu Qatada, Hatred 2 documents First reported 09/15/2008 - Updated 09/15/2008 Plaza Premium Lounge opens at Muscat International Airport; enhancing airport ambience and experience 15/09/08 OMAN. The Plaza Premium Lounge, a new VIP lounge for travellers in Oman, has been opened at Muscat International Airport in a ceremony held at the airport.Ministry of Finance Secretary General for Taxation and Oman Airports Management Company (OAMC) SAOC ... [09/15/2008 - Moodie Report] Entities: Muscat, Environment, PPL Corporation, Atmosphere, Wi-Fi 2 documents First reported 09/14/2008 - Updated 09/15/2008 Farmers to Sign Supply Deal The Nation (Nairobi)Tea growers will soon be required to sign green leaf supply agreements with their respective factories to curtail the problem of green leaf diversion.According to draft guidelines presented at a tea forum held in June by industry regulator ... [09/15/2008 - AllAfrica.com]
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Entities: Nyamira (Kenya), Kiambu (Kenya) Wagh Bakri plans to enter food sector Saturday, January 01, 2005 By A Correspondent, Kolkata The Wagh Bakri Group, among the largest regional players in the tea industry with significant market shares in Gujarat, Madhya Pradesh and Rajasthan, is contemplating entering into business involving other food items. Piyush O Desai, Chairman of the Wagh Bakri Group, said that the group was studying various opportunities closely. A final decision on the matter was yet to be taken, he said. According to him, the group would like to set up a food-processing unit in Gujarat and would use its existing marketing network for distribution of the products. He indicated it would be a food business on FMCG lines. "We would like to reach out to the common man with a product that would be affordable for them but we will not compromise on quality. We would like to maintain the best quality because our brand, Wagh Bakri, stands for quality," Desai said. The Wagh Bakri Group has three tea companies within its fold. The first and the oldest (set up in 1917) is Gujarat Tea Depot Co Ltd and it owns the Wagh Bakri brand name. The second is Standard Tea Processing Co Ltd, which focuses mostly on tea buying and blending. The third company is Gujarat Tea Processors and Packers Ltd and it sells the teas. The Wagh Bakri Group has registered a turnover of around Rs 190 crore during 2003-04. In the current financial year, 2004-05, the turnover of the group is expected to cross Rs 200 crore.
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Mission and Vision
mission was to reach out to the masses with good quality product at an affordable price & build a brand.
Wagh Bakri Ltd
Business Philosophy
1. Earn Money 2. Customer Satisfaction 3. Provide Best to the Customer 4. No Compromising the quality of their product
Special achievements
? INDIA?S FIRST TO LAUNCH WIDEST Selling RANGE. ? INDIA?S FIRST TO INTRODUCE Flavours Tea. ? INDIA?S FIRST TO GET ISO 9001. ? INDIA?S FIRST TO GET OHSAS 2000 ? INDIA?S FIRST TO GET SA 8000
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Omar Bakri Muhammad
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Existing management group Key Personnel Board of Directors
Mr. Manohar Joshi, Mr. Piyush Desai.
Marketing
K S Vaidyanathan, Senior Vice President (Marketing)
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MARKETING
HISTORY OF Wagh Bakri PRODUCT HSTORY OF TEA
India Wagh Bakri opens first tea lounge in Mumbai Ahmedabad | Monday, Aug 11 2008 IST The first 'Tea lounge', where people would have choice to taste tea before purchasing the product, has opened at Vile Parle, a western suburb of Mumbai. The Wagh Bakri group, the third largest packet tea company in the domestic market, with a turnover of Rs 300 crore and having a strong presence in Gujarat, Madhya Pradesh and Rajasthan, has made its presence in Maharashtra through its foray into retail franchise format with the launch of its first ''Wagh Bakri Tea Lounge'' in Vile Parle. Piyush Desai, Group Chairman of Wagh Bakri Tea Group, said ''we opened a tea lounge in Mumbai yesterday with an objective to offer consumers with a variety of tea that will excite their palatesand allow them to ''Mix and Match'' their choice of blend. He said the lounge offers a wide range of tea, similar to the various forms of Narishakti, giving consumers an opportunity to get acquainted with strong Assam tea, a healthy Organic tea, a relaxing Green tea, an uplifting Darjeeling tea, a refreshing South Indian tea and Flavoured tea. The Tea Lounge also boasts of a range of snacks from the traditional fare to the classical Iranian offerings that go well with favourites like Adrak Chai and Pudhina Chai. Mr Desai said, ''our aim is to make people feel good, healthy and provide them with unique offerings. By Opening this Tea Lounge, we intend to bring various tea flavours from various countries, including China and Sri Lanka''. ''We have partnered with Radha Krishna Hospitality Services Pvt. Ltd (RKHS). Who will manage the operations of the parlour? This is the first tea lounge in the Mumbai city and we plan to roll out number of outlets in other parts of country'', he said. The company plans to roll out into more cities across the country by next year. ? (UNI) -- 11BY10.xml
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Product
1) PRODUCT
? A Product is anything that can offered to a market to a satisfy a want or
need. Products that are marketed include physical good, services, experiences, person, events, places, properities, organization, information, and ideas. ? Kotler & Pri.Management has identified five levels of product as under.
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POTENTIAL PRODUCT
AUGMENTED PRODUCT
CORE BENEFIT
EXPECTE-D PRODUCT
BASIS PRODUCT
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? CORE BENEFIT The fundamental level is the core benefit. The service or benefit the customer is really buying is core benefit of the product. ? BASIC PRODUCT AT the second lavel, the marketer has to turn the benefit of the core product. ? EXPECTED PRODUCT At, third level the marketer prepare on expected product a set of attribute and condition buyers normally expect when they purchase of this product. ? AUGMENTED PRODUCT At the fourth level the marketer prepare an augmented product that axceeds customer expectation. ? POTENTIAL PRODUCT At the fifth level stands the potential product which encompasses all the possible transformations the product or offering might undergo in the future.
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PRICE
"Skimming" is a profit-maximization strategy.
PRICING
Price is one of the best most important elements of marketing mix that generates revenue. The pricing determining on the basis of the kind of brand product they use, their reputation, professional staff, degree of competition etc. A particular product or services is acceptable to the customer at a particular price and if the price is increase , it is likely that the same product or service might become that less acceptable to the customer. We can conclude it in 6 steps procedure.
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Selecting the pricing objective Determining Demand Estimating Cost Analyzing competitors cost, price and offer Selecting a pricing method Selecting the final price
1)
Selecting the pricing objectives.
The clear the Wagh Bakri product objective, the easier it is to set price. A Wagh Bakri product can purchase any of the 5 major through pricing.
? ? ? ?
Survival Maximum current profit Maximum market share Maximum market skimming
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? 2)
Product or quality leadership
Determining demand
Each price will lead to a level of demand and therefore have a different impact on Wagh Bakri objective. In normal case demand and price are inversely
3)
Estimating cost
The Wagh Bakri product want to change a price that covers its purchasing product paying remuneration to the staff.
4) Competitors cost.
The Wagh Bakri must take the competitors cost, price, and reaction into account.
5) Selecting the pricing method
? ? ? ? Pricing Value pricing Tangent Return pricing Discount pricing
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PLACE
PLACE
These two characteristics make the channel very short & direct. Most services are distributed through direct sales. The inseparability, i.e. in case of service production can’t be separated from selling; services must be created and sold at same time. (Place in Ahmedabad)
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PROMOTION
PROMOTION
Meaning : Promotion can be defined as “Activities that communicate the product or service and its merits to target customers and persuade them to buy.
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Advertisement : Source of Advertisement: ? ? ? ? ? ? News paper Magazines T.V Web site Pemflate Radio
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Organization of marketing department Marketing Department
1. Biswa Behari Chatterjee (General Manager) 2. A Sing (General Manager) 3. K Vaidyanath (Deputy General Manager)
Product Planning Product Range In Wagh Bakri there are Lots of
Products in 13 Different colors & Shape. ? Wagh Bakri ? Mili ? Good Morning ? Masala Tea ? Masala Chai Tea Bags ? Instant mix Tea ? Lepton Lemon Tea ? Dling Tea ? Organic Darjeeling
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PRODUCT LINE & PRODUCT MIX
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Product line and mix
A product line can be a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through same types of outlets, or fall within given price ranges For any business unit, it is very much important to take a product line decision which includes mainly the following:1. Product line length 2. Product line modernization 3. Product line featuring
The product line & product mix of Wagh Bakri Ltd. are as follows:No Product Code 1 Wagh Bakri Bhuki 50 2 2 Wagh Bakri Bhuki 100 3 3 Wagh Bakri Bhuki 250 4 4 Wagh Bakri Bhuki 500 5 5 Wagh Bakri Bhuki 1 kg. 6 6 Wagh Bakri Patti 25 11 7 Wagh Bakri Patti 50 12 8 Wagh Bakri Patti 100 13
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9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
Wagh Bakri Patti 250 (P) Wagh Bakri Patti 500 (P) Wagh Bakri Patti 1 kg.(P) Wagh Bakri Patti 1 kg.(J) Mili Patti 2 Rs. Mili Patti 5/10 Rs. Mili Patti 50 gm. Mili Patti 100 gm. Mili Patti 250 gm.(P) Mili Patti 250 (J) Mili Patti 1 kg. Mili Sample 1 Rs. Mili Fanning 50/100 Good Morning 250 gm. Good Morning 500 gm. Navchetan 250/1 kg.
14 16 18 19 41 109 110 42 43 44 45 49 40 51/52 75 76 85/86
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Product decisions Product decisions basically focuses on the BRANDING & PACKAGING of the product. 1. Branding All the product of Wagh Bakri whether Tea, and other accessories are marketed under the only brand name of Wagh Bakri.ere There can be several branding decisions: ? ? ? ? ? To Brand or Not To Brand Brand Name Selection Brand Sponsor Brand Strategy Brand Repositioning
Wagh Bakri Ltd adopts manufacturer?s Brand Strategy, i.e. before the name of every product Wagh Bakri has to be literally added and spoken.
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Today, the Brand however, is showing signs of stagnation in consumption. 2. Packaging
According to marketing, packing may be defined as all the activities of designing and producing the container for a product to packing is important elements for selling the product or attracting consumer from the market. Developing an effective package requires a number of decisions. From the perspective of both the firm and consumers, packaging must achieve a number of objectives:? ? ? ? ? Identify the brand Convey descriptive & persuasive information Facilitate product transportation and protection Assist at – home storage & Aid product consumption
Wagh Bakri Ltd. packed their product in the box when they received the order. They have a special department for the packing of the product.
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PKD BY: J.K.D. GLOBAL PVT. LTD. 1, R.N. Mukherjee Road, 5th Floor, Room No. 51, Kolkata-700001 New product Development Companies need to grow their revenue over time by developing new products and expanding in to new market new product development shapes the company?s future; improved or replacement product will maintain or build sales. We can identify six categories of new product:1. New-to-the-World-product 2. New product Lines 3. Addition to existing product lines 4. Improvements & Revision of existing 5. Repositioning 6. Cost Reductions
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Product Life Cycle A company?s positioning and differentiation strategy must change as the product, market, the competitors change over the life cycle. 1. 2. 3. 4. Introduction Growth Maturity Decline
Market segmentation A market segment consists of a group of customers who share a similar set of needs and wants. A company needs to identify which market segments it can serve effectively. Such decisions require a keen understanding a consumer behavior and careful strategic thinking. market segmentation have four types they are shown in the following:? ? ? ? Geographic segmentation Demographic Segmentation Psychographic Segmentation Behavioral segmentation
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Geographic segmentation calls for dividing the market in to different units such as nations, stats, regions, countries, cities or neighborhoods. Demographic Segmentation, the market is dividing in to groups on the bases of variables such as age, family life cycle, gender, income, social class etc. Psychographic Segmentation, buyers are divided in to different groups on the basis of psychological traits, life cycle, or values. Behavioral segmentation buyers are divided in to different groups on the basis of their knowledge of product, attitude towards product, use of products and response to the product.
Pricing The amount of money charged for a product or service, or the sum of the values that consumers exchange for the benefits of having or using the product or service. The prices of the product are so low that every one can afford it. It is affordable to all. Factors considered while setting prices
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? Marketing objectives:Before setting price, the company must decide on its strategy for the product. If the company has decide and selected its target market and positioning carefully, then its marketing- mix strategy, including price, will be fairly straight forward. Wagh Bakri limited can set prices low to prevent competition and set prices at competitor?s level to stabilize the market. ? Costs :Costs can set the floor for the price that Wagh Bakri limited can charge. It wants a price that both covers all its cost for producing, distributing and selling the product and delivers a rate of return for its efforts and risks. Pricing Approaches Wagh Bakri limited deciding their price on the basis of the competition. Channels of Distribution Distribute means spread out. Channels of distribution indicate result of path way through good & services flow & reach to customer. Distribution Channel
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includes all the intermediaries of the market such as agents, merchandisers, facilitators, wholesalers and retailers. Dealers use this kind of channel for selling the product to the customer in the market. In the Wagh Bakri limited they have 600 distributors & 15000 Retailers. The channels of distribution of Wagh Bakri limited are as follow:1. Distributors 2. Dealers 3. Retailer 4. Customer Decision about channels:In Wagh Bakri limited first of all the decision of channels are taken by the company. They sell their products to the distributors. After this distributor sells the products to the retailers so in this case decision is taken by distributors. Then a retailer sells products to the customer. Here decision is taken by the retailers. Wholesaling:Wholesaling includes all the activities involved in selling good or services to those who buy for resale or business use. Wholesaling excludes manufactures and farmers because they are engaged primarily in production, and it excludes retailers. Wholesalers pay less
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attention to promotion, atmosphere and location. They are also known as distributors. In Wagh Bakri limited they have wholesaler for the sale of their product. Retailing:Retailing includes all the activities involved in selling goods or services directly to final consumers for personal, nonbusiness use. A retailer or retail store is any business enterprise whose sales volume comes primarily from the retailing. Wagh Bakri limited is also doing retailing through their retailer. Sales Promotion Sales Promotion tools and Programmers:Sales promotion, a key ingredient in marketing campaigns, consist of a collection of incentive tools, mostly short term, designed to simulate quicker or greater purchase of particular products or services by consumer or he trade. There are two types of sales promotion:-
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(1) Consumer Sales Promotion:Where any benefits are given to consumers then it is called Consumer Sales Promotion. It includes samples, coupons, cash refund, offers, prices off, premiums, prizes, patronage rewards, free trials, warranties, tie-in-promotion, cross promotion, point of purchase displays and demonstration. (2) Trade Sales Promotion:Same way, where any benefits are given to the wholesalers and middle men then it is called Trade Sales Promotion. It includes allowances, advertisement allowances, trade shows and conventions, sales contest, free goods, free gifts on special discounts, etc. In Wagh Bakri limited they are giving sales promotion to their dealers. They give six months targets to the dealers for the sales. If they fulfill this condition they were given gift.
FOUR C’S CUSTOMER 1) 2) 3) 4) Customer Solution Customer Cost Convenience Communication
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5)
Public relation and Decision:
A public is any group that has an actual or potential interest in or impact on company?s ability to achieve its objectives. Public relations involve a variety of programmer designed to promote or protect a company?s image or its individual product. Wagh Bakri limited has good relation with the public. They can satiesfied the demand of the public. Sales Force Management: Once the company has established objectives, strategy, structure, size and compensation, it has to recruit, select, train, supervise, motivate and evaluate sales representatives. For this purpose sales management is necessary. Sales force management in Wagh Bakri limited are follows: ? Managing the Sales force ? Recruiting and Selecting Sales Representatives ? Training Sales Representatives ? Supervising Sales Representatives ? Motivating Sales Representatives
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Advertising Objectives: An advertising objective is a specific communication task and achievement level to be complished with the specific audience in a specific audience in a specific period of time. Advertising objectives can be classified as follows: 1. Informative advertising. 2. persuasive advertising 3. reminder advertising 4. reinforcement advertising
Setting budgets Advertising is treated as current expense; part of it is really an investment in building equity. Company must set its advertising budget. This reduces the company?s reported profit and therefore limits the no of new product launches a company can undertake in anyone year. There are some specific factors which are taken into consideration while setting the budget. They are as follows:
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? stage in the product life cycle ? market share and consumer based ? competition and clutter ? advertising frequency ? product substitutability Strategies and Tools:The advertisement of Wagh Bakri limited creates effective advertising messages. Wagh Bakri uses different tools for the advertisement of their product. They are as follows:-
Advertisement tools 1-Elecronic Media: ? Television ? Radio 2-Print Media: ? Newspapers ? Magazines ? Journals
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Marketing research: Marketing research is the process of systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. A company can obtain marketing research in a number of ways. Marketing research firms falls into three categories: 1- Syndicate-service research firm 2- Custom marketing research firm 3- Specialty-line marketing research firms Wagh Bakri ltd today fastest growing company. Wagh Bakri is also doing marketing research for their products. Wagh Bakri ltd is doing marketing research for the following purpose:? ? ? ? New product demand Product enrichment For underwriting consumer attribute Launching a new product
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MARKETING RESEARCH PROCESS
Define The problem And Research Objective Develop The Research Plan Collect The Information Analysis The Information Present The Finding Make The Decision International Marketing International marketing means marketing with the foreign country. Here the company buy or sell products from another country. Wagh Bakri limited is doing 15% international marketing. They were doing dealing mostly with China, Kenya and Sri Lanka and American Countries.
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FINDINGS
? People in the market prefer Wagh Bakri as a trustworthy brand name and for its reasonable price. Most of the consumers are of the view that they have never found any type of defect in Wagh Bakri?s product. This company is well known for its quality. There is no category of quality standards in this company. It produces only high quality products and never compromise with second quality
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CONCLUSION
Hereby We have completed Our project report on Wagh Bakri ltd. The successful completion of this report is possible only with the help of my college and Teachers. Practical knowledge is as important as theoretical knowledge. The purpose of preparing this project report is to get an idea about various aspects of marketing management and to get knowledge about market research. This project report has provided as an opportunity to get a brief view of the market for the chain of Tea and other product. This project report has thought us the important of hard work, Team work, has maid us how to coordinate thing labor and resources and has enriched our communications skills. The qualifications which have increased our knowledge notably.
Finally we would like to conclude our project on the note that, through this research we have been able to explore deeper insight into this topic and have been able to combine the essential elements that are to be taken care of.
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BIBLIOGRAPHY
Marketing management by Philip Kotler, copyright of 2006, 12 edition.
Search Engines
www.google.com www.rediff.com www.Wagh Bakri.com www. Premium Tea.com
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doc_663196340.docx