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The document summarizes research on the Indian sweet industry and a survey of Pullareddy Sweets' competitors. Some key findings include: - The Indian sweet market is valued at $664 million and growing at 10% annually. - A survey of Pullareddy Sweets and competitors found Pullareddy rated lowest on taste, variety, and innovation. - Customers said competitors had better service, packaging, and locations than Pullareddy. - The report identifies problems for Pullareddy like an aging customer base and lack of appeal outside South India. It recommends rebranding to target younger people and expand product categories.
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- 1. Presented By Anudeep Gupta Pabba
- 2. Research Report of Pullareddy Sweets
- 3. Key findings - Sweet Industry in India India, One of the largest snack markets in world, has an market of value $ 1 billion and over 4 million tons in terms of volume. The industry has been growing around 16% for the last three years Branded segment is growing around 25% per annum. The Indian Sweet market is currently valued at around $664 million, with about 70 per cent share ($ 461 million) in sugar Confectionery and the remaining 30 per cent ($ 203 million) in Namkeen confectionery. The organized market for confectionery in India is valued at Rs 2,000 crore. As per the study by Euromonitor, the Indian sugar confectionery market is projected to expand at a compounded annual growth rate (CAGR) of 10%. Growing population, rapid urbanization, changing consumer preferences etc are expected to keep the demand increasing in future too. With a well- integrated supply chain and a good marketing strategy, a tremendous opportunity lies for these industries industry in India.
- 4. Key findings Sweet Industry User pattern in India Sweet Consumption trends in India Source: Financialexpress.com Hyderabad stands in 7th Place of Consumption of Sweets in India
- 5. India Retail Market (Overall) : By Category Category 2006 2011 2016 CAGR (2011-16) Food and Sweet 217 325 425 5.50% Apparel 25 35 50.2 7.50% Jewellery & Watches 16.5 25.6 44.2 11.50% Consumer Electronics & IT 16.5 22.7 42.8 13.50% Pharmacy 8 13.9 23.4 11.00% Furnishings & Furniture 6.5 9.1 17.1 13.50% Restaurants and Food Joints 4.6 8.8 15.8 12.50% Footwear 3.6 4.5 8.3 13.00% Beauty Services 0.6 1.3 3 18.00% Health/Fitness Services 0.4 1 2.5 20.00% Others 11 23 42.5 13.10% Total (US$ Bn) 310 470 675 7.50% Source:TechnopakAnalysis:EmergingTrendsinIndianRetailandConsumer:2011
- 6. India Retail Market (Organized): By Category Category 2006 2011 2016 CAGR (2011-16) Food and Sweets 2 9 34 30.00% Apparel 3.5 5.5 8 8.50% Jewellery & Watches 1 2.5 7.5 25.00% Consumer Electronics & IT 1.5 4 18 35.00% Pharmacy 0.2 0.8 4.5 41.00% Furnishings & Furniture 0.4 0.7 1.2 12.00% Food and Beverage (Eating Out) 0.5 1.5 6 30.00% Footwear 1 1.7 3.8 17.50% Beauty Services 0.2 0.2 0.5 20.00% Health/Fitness Services 0.1 0.2 0.6 25.00% Total (US$ Bn) 10 26 84 26.00% Source:TechnopakAnalysis:EmergingTrendsinIndianRetailandConsumer:2011
- 7. Objective of the Survey To compare pricing, packaging, taste, staffing, walk-in rate, sale rate, innovation and customizability, variety, most and least sold out product or type with the said client as compared to market competitors To identify problem areas and differences with the said client as compared to market competitors To identify problem areas store-wise To gain feedback from customers in view point of value parameters like price, taste, quality To review client vision, mission and goals To formulate guidelines for the rebranding project
- 8. Survey
- 9. Five Force Model Industry Buyer Power Supplier Power Threat of Substitutes Potential Entrants The survey was done on Porters five forces model, the competitor and new entrant strengths and replacing capabilities were analyzed with comparison to the said client. The buyer power was analyzed as to what factors catalyze their act of buying sweets. A threat of fading value was identified by threat of substitutes in the near/far future.
- 10. Survey Outline - Competitors Shagun,Vellanki, Dadus,Almond House, Shubh Avsar and Emerald customers and outlets were surveyed, hereby they will be collectively called Competitors - Client outlets an walk-in customers were surveyed in the same fashion, hereby they will be collectively called GPR Outlets - The UDMs were interviewed individually about their outlets, competitors , industry, vision and plans of expansion.
- 11. Outlets
- 12. The following charts are a comparison of bothGPR and Competitor outlets, the stores were rated on the on a scale of 1-5 ; 1 being very bad and 5 being very good. They were rated on the following parameters; Price Taste Quality (freshness) Sales service Location Variety Innovation
- 13. Price 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 Emerald Almond House Dadus Shub Avsar Vellanki Shagun Pulla Reddy
- 16. Sale Service 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 Emerald Almond House Dadus Shub Avsar Vellanki Shagun Pulla Reddy
- 17. Location 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 Emerald Almond House Dadus Shub Avsar Vellanki Shagun Pulla Reddy
- 20. The following charts are the comparison of consumer opinions at both competitor stores and GPR outlets on an average; The percentages are based on an average calculated from consumer opinions at all stores.
- 21. What are the reasons you choose this store ? - Quality,Taste ,Well-known , Location , Recommended 0 5 10 15 20 25 30 35 40 45 Quality Taste Well-known Recommended Location Emerald Almond House Dadus Pulla Reddy
- 22. Key Findings - The said client brand runs on legacy, well-know the long run the client brand value might depreciate because of its fading value proposition. - The said client brand rates low on location when to other main competitors who are present in prime locations. - The said client rates lowest on the taste parameter, reasons for this are unknown. - The said client is the least recommended outlet, reasons for it could be the lack of attractive
- 23. Do you think the price is worth it ? -Yes - No - Maybe 0 10 20 30 40 50 60 70 80 90 Emerald Almond House Dadus Pulla Reddy Yes No High
- 24. Key Findings - The buying category at the said clients store is most prominently middle class economic zone, the lowest prices in the market are still high for the community. - Buyers at the competitor stores are upper middle class community, most likely because of the locations are located and the client is not. At locations where is not a primary factor. - The buyers are conscious about what price they buy product. - The said clients pricing is lower than 80% of its competitors.
- 25. Which of the following do you think lacks in store ? Service, Ambience, Good Packaging andVariety 0 5 10 15 20 25 30 35 40 45 Service Ambience Good Packaging Variety Emerald Almond House Dadus Pulla Reddy
- 26. -The said client fails largely in sales service, the bar staff is seldom responsive, interactive and knowledgeable lest compared to the competitors. - The said client also lacks a range of good packaging. - The said client ranks low when creating a wholesome customer experience when because of mundane ambience. - The clients competitors rank high in sales service and variety.
- 27. What other categories or combos do you expect ? Cookies ,Savouries ,Pickles , Nothing 0 10 20 30 40 50 60 70 80 90 100 Cookies Savouries Pickles Nothing Emerald Almond House Dadus Pulla Reddy
- 28. What purpose do you usually buy sweets for ? Personal consumption ,Festivals, Gifting ,Distribution 0 10 20 30 40 50 60 Self Gifting Festivals Distribution Emerald Almond House Dadus Pulla Reddy
- 29. Problem Area The current crowd at the client outlets range from 30-55, the younger generation is off the hook. The brand is not primarily available in varieties that are appealing to North Indians, the crowd shifts to largely South Indian precisely only Telugu people which makes our products niche. There is a large gap between the management, staff and the customer which have to be bridged. The packaging is big lag due to use of multiple logos, no standard theme and design. Uniformity and consistency are far taken aback. The brand recall is relying on a single factor legacy, this has to be re- written to create a whole new experience and pass the pride factor to the end consumer.
- 30. Identifying GPR Existing BrandValues Product Class Description Sweets Savouries Pickles Quality Value for money Strong Pedigree Latent Relying in legacy and pride factor Very old-fashioned
- 31. Transforming GPR Existing Brand Values Product Class Description Sweets Savouries Pickles Quality Value for money Strong Pedigree Latent Relying in legacy and pride factor Very old-fashioned Pure Ghee House to Traditional Snack House Reinforcing Purity Larger than Life
- 32. Consumer Buying Perception Quality, Price, design are key factors considered at the time of purchase. Deck up for special occasions to look good so that people look up to you. Owning a product from us should be a status symbol.
- 33. Highlights /Que from the SWOT analysis Rebranding @ user friendly ( experience ,feel etc) TargetingYoung People Need to focus on IT & ITES group Tech presence
- 34. Communication challenge Establish: Sweet as a need across all the age groups Create demand and generate image to the stores People must identify with the Store as their ideal destination. To establish the factor of reliability & bonding with the brand To project as trustworthy brand and create Goodwill.
- 35. Marketing Calendar The way forward For Image & Emotional Connect- OOH & Radio To Build Salience Improve Shop Visibility Selective OOH media For Fueling Growth Print & Web Local Promotions Cinema Screens High dose of on-ground engagement with tying up with Radio for activations New Concept Promotions
- 36. Blind Test (For internal Employees)
- 39. Association of Pulla Reddy sweets with Park-Hyatt and Radison-Blu Internal Branding of Koneru Lakshmaiya University Involved in G.Pulla Reddy TVC Ideation
- 40. Thank You