“Competitive Analysis of leading players in premium soap industry and its Consumer Buying Preference”

Summer Internship Project Report

Undertaken At

ITC Limited, Jaipur

Submitted to Partial Fulfillment of the RequirementFor the Award of

Post Graduate Diploma in Rural Management(You have taken admission in Rural Management or Business Management. First

Specify that, and get the things cleared.Submitted By:Akansha Tak

PGDBMRM/JULY/14/27/2996

Faculty Guide:(Dr.)Prof. Shiv Joshi (not Prof.)

FMS-IRM, Jaipur

Faculty of Management Studies

Institute of Rural Management, Jaipur

Project Title:-

“Competitive Analysis of leading players in Premium Soap Industry and its Consumer Buying Preference”

Organization:-. Imperial Tobacco Company (ITC Ltd.)

Area of Working: - Jaipur, Rajasthan.

Duration of Project: - 45 days (15th May- 30th June 2015)

Objective of the Study: -

To analyse the market of premium soap industry.(when you analyse the market your second objective is already fulfilled) so I don’t think that it is of any use.

To analyse the various competitors in case of premium soap industry. (X)

To find out the factors that influences a consumer to buy a particular brand of

Premium soap.

To analyse the Marketing strategies followed by Premium Soap Brand. (Can add this as an objective)

To know the potential growth of premium soap industry in the near future.

Scope of study or utility

Gaining knowledge about the soap industry.

Exchange of facts idea, opinions while interacting.

To analyse situations for the company for the purpose of growth.

To build strategy for the company to analyse its competitors.

To find out the potential area and outlets in the market.

Rationale of conducting this study:

To find out the major players, understand the range, price, scheme, and margin offered by

the existing players in case of premium soap industry.

Understanding consumer preferences (by questionnaire and observation)

Understanding Terms of trade (with reference to competitors)

Role of visibility and schemes for inducing sales.

Introduction of title

The Soap Industry in India is at the high growth rate and many new entrants are planning

to launch their product in this category. The overall Soap Industry is worth at

60000crores. The Soap market constitutes the premium, the popular and the sub-popular

segments.

The Premium segment constitutes about 20percent of the soaps market and volume

growth will come essentially from popular and sub-popular segments

Due to High penetration of premium soap industry, there is little left for volume growth

in the toilet soaps industry today. Hence FMCG majors are now trying to upgrade

consumers from popular to premium segment through innovative approach.

The Premium Soap segment is steadily growing in India as companies are now paying

attention to three factors:

High Visibility

Packaging

Brand Experience

Going premium in times of a slowdown in a saturated category like soap seems to have

worked for ITC. The company made a relatively late entry into the soaps category in

2008, but it is the premium soaps portfolio which is growing faster than the mass

offerings in its personal care portfolio. However, it has been the best year for Fiama Di

Wills bathing bars. So I will be doing an Industry overview of premium soap, to find out

the major players, understand the range, price, scheme, and margin offered by the existing

players. I will be finding out the best practices that these competitors – Dove, Pears, Park

Avenue, Nivea, Fiama Di Wills and Wild Stone adopt in terms of schemes, price and

visibility.

I will also try to find out the buying decision process of consumers in the target market

and to find out the factors that influences a consumer to buy a particular brand of

premium soap.

LIMITATIONS OF THE STUDY

1. The study is limited to the city of Jaipur

2. Market division is Modern Trade

3. Limited time span of the project (when u know that time span is limited, then why you have selected this topic? This question will be raised at the time of presentation, so be aware)

4. Sample of the whole universe was taken for the study (How this can be a limitation? I didn’t get it)

Research Methodology

Research Design: Descriptive Research Design

Sample Design- Random Sampling

Type of Data Collection:

Primary Data: Personal interaction, Observation and Questionnaire

Secondary Data: Past reports, Internet, web site.

Statistical Tool:

Table, graphs & pie-charts are used for analysis of premium soap industry. (Table , graphs and pie-charts are never considered in Statistical tools. They are just tools to represent figure and facts.) (Rectify it )

Research Tools: Printed Questionnaire was used as the Research Instrument to collect desired information. (When you will start your research how it can be ‘WAS’) (Atleast you can check what you are typing or copy pasting)

Research Area: The survey was conducted in the Jaipur.

Universe of the study:

It is the set of objects to be studied. The universe can be finite or infinite. In finite universe the numbers of items are certain, but in case of infinite universe the numbers of items are infinite. In our study the universe is the end consumers which is finite i.e. all the residents of Jaipur. ( I don’t need the meaning of Universe, I know this better than you, explain me that in your research which you are going to do, what would be your universe.)

Sample size:

Sample refers to the number of item to be selected from the universe. In our study the total sample size is 300 which are taken from end consumers. ( If sample size is 300 then the size of your universe should be more than 1300, because sample size is at least or minimum 20% of the universe)

Action Plan:

The Action Plan that I will follow so far is to,( ‘So far’ means till now and ‘Will follow’ means you are going to follow in future. This is contradiction. I didn’t understand.)

First Understand Branding, schemes, popular variants, and prices that competitive brands

run by visiting the direct and indirect accounts of ITC and to have a complete Industry

overview of Premium Soap Industry.

(your action plan is limited to the understanding of Branding, schemes, popular variants, and prices that competitive brands. After that what? Action Plan means how will you proceed in your research.