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2010

A Study on the factors affecting the consumer buying behavior of Ready-To-Eat Industry
Submitted to: Prof Gowri Joshi

Submitted by: Shruthika Kanchan Roll no 1 !!S "irst #ear SIES $ollege of !anagement Studies%

3/17/2010

Acknowledgement
During the perseverance of this project, I was supported by different people, whose names if not mentioned would be inconsiderate on my part. I would like to extend my sincere gratitude and appreciation to my project guide Prof. Gowri oshi, !I"! college of #anagement !tudies, for extending valuable guidance and encouragement from time to time, without which it would not have been possible to undertake and complete this project. $he Project was an enriching experience and taught me various critical factors that influence %eady&$o&"at Industry. 'dditionally, this project helped me understanding how actual research is conducted and the various challenges that researches face while doing a research. I would also like to thank my family for their support and patience through out the completion of the project. #y heart felt gratitude to the #icrosoft (orporation for inventing the )#icrosoft word* software which has helped us #+' students immensely in completion of our projects. 'bove all I would like to thank the divine intervention who backed me at all times and provided me with all the help of the wonderful people mentioned above.

!hruthika ,anchan

Table of Contents
ACKNOWLEDGEMENT..........................................................................................................................................2 TABLE OF CONTENTS............................................................................................................................................3 SECTION 1: INTRODUCTION................................................................................................................................4 I-$%.D/($I.- $. %"'D0 $. "'$ 1%$"2................................................................................................................3 #.$I4'$I.- 5.% $6" !$/D0...................................................................................................................................7 .+ "($I4"! .5 $6" !$/D0.......................................................................................................................................7 %"!"'%(6 P%.+8"#.................................................................................................................................................9 !(.P" .5 $6" !$/D0................................................................................................................................................9 8I#I$'$I.-! .5 $6" !$/D0.....................................................................................................................................9 D"5I-I-G $6" 4'%I'+8"!........................................................................................................................................: SECTION2: LITERATURE REVIEW.....................................................................................................................9 $6".%"$I('8 %"4I";..............................................................................................................................................< %"!"'%(6 +'!"D 8I$"%'$/%" %"4I";................................................................................................................== SECTION 3: RESEARCH METHODOLOGY......................................................................................................15 %"!"'%(6 D"!IG-..................................................................................................................................................=> D'$' (.88"($I.- #"$6.D.8.G0........................................................................................................................=> !'#P8" D"!IG-.......................................................................................................................................................=7 !'#P8" !I?"............................................................................................................................................................=7 SECTION 4: RESULTS AND FINDINGS..............................................................................................................17 SECTION 5: CONCLUSION AND RECOMMENDATIONS............................................................................2 (.-(8/!I.-............................................................................................................................................................@7 %"(.##"-D'$I.-!................................................................................................................................................@9 SECTION : BIBLIOGRA!HY..............................................................................................................................29 +..,!...................................................................................................................................................................@< ;"+&%"!./%("!................................................................................................................................................@< .$6"% %"5"%"-("!................................................................................................................................................AB SECTION 7: ANNE"URE.......................................................................................................................................3#

Section 1: Introduction
Introduction to Ready to Eat (RTE) ackground for t!e Study
India has made lot of progress in agriculture C food sectors since independence in terms of growth in output, yields and processing. It has gone through a green revolution, a white revolution, a yellow revolution and a blue revolution. $oday, India is the largest producer of milk, fruits, cashew nuts, coconuts and tea in the world, the second largest producer of wheat, vegetables, sugar and fish and the third largest producer of tobacco and rice. $herefore, Indian Government is providing more infrastructures for this sector. "xcise duty is now ?"%. D on %$" and =BB D tax deduction for the first =B years for new units. $his allows manufactures to bring down their prices C spreads its flavors to the world. -ow the time is to provide better food processing C its marketing infrastructure for Indian industries to serve good Euality C safest processed food like ready to eat food. $he ready&to&eat 1%$"2 market in India, currently estimated at %s. =@: crore 1@BB72 is expected to expand to reach %s. @,<BB crore by @B=>, according to an analysis done by $ata !trategic #anagement Group 1$!#G).1 In its analysis, $!#G said that the factors contributing to the growth would be changes like cold chain development, disintermediation, streamlining of taxation, economies of scale on the supply side, coupled with increasing disposable incomes, diminishing culinary skills and the need for convenience on the demand side. Conce"t %eady to "at #eals like already cooked or prepared lunch C dinner are relatively new products are now sold through retail general stores in especially made sealed aluminum laminates. ;hen customer needs to eat, the food item pouch is either put in microwave oven to warm it or keep in heated water for a few minutes and then serve to eat. !uch ready to eat meals have been especially given to soldiers in army of many countries who reEuire carrying their rations while on war front or while located far away from their main unit.
1

http://www.thehindu.com/2007/10/24/stories/20071024 4! 1"00.htm

$he market for food is simply huge and as of anuary @B=B estimated to be %s >BBB billion annually. It is growing for two main reasonsF population growth and improvement in consumersG spending ability. $he ready&to&eat segment is small but growing. (orporate are only now beginning to look at the huge potential this segment can offer. $he market is expected to grow five&fold in next > years.2 #layers in t!e Ready to Eat Segment #$% ,ohinoor 5oods I$( 6aldiram $asty +ites

Some $eatures: GlobaliHation of Indian food and its culture are the core factors for populariHation of ready to eat foods. #ain motivation for these ready to eat foods is fast growing foreign market. I%etail outlet culture is now growing rapidly in India. I!helf life of these foods is at least =@&=: months. J I uality, $aste and 5lavor of these foods remains as good as fresh up to the expiry date. I;omen wanting to spend more time out of the kitchen. # I ore working bachelors staying away from homes. I(ost effective in comparison to the Indian cuisine served by the restaurants in foreign countries.

www.m#r$etreser#ch.com

%oti&ation for t!e Study


'ccording to I$( press release on #arch @BB:, Indian %$" market is worth around %s :B&=BB crore. $he market is somewhat in a stagnant state and the growth is minimal.3 'ccording to reports by (-+(&$4=:, despite gradual duty cuts on %eady to "at and instant mixes the sector is not doing well and growth is minimal. $he concept behind %$" is that urban families are strapped for tine and will definitely buy %$" packs to save on cooking time however this doesnGt seem to be so because in India people still prefer food cooked and served piping hot by some one else or themselves so people hire cooks instead of buying %$" packs. ' study conducted by the $ata strategic management group also highlights that the %$" market in India has remained under&penetrated owing to factors such as consumersG penchant for freshness, low affordability and the Indian housewifeGs preference for home&cooked food.3 6ence, this study was undertaken to understand the psyche behind consumers and what factors goes into influencing their buying decision making. $his is a dilemma faced by marketers of %eady to eat Industry. #arketing being veru close to my heart and strategic marketing is my passion and hence I took up this study to understand the problems that marketers face and what are the mean by which strategically these hurdles can be overcome.

'b(ecti&es of t!e Study


$o study the market penetration of %eady&$o "at food. $o study the consumer perception of %eady&$o&"at foods. $o identify the buying pattern of %eady&$o&"at 1%$"2 packs. $o identify the factors influencing buyer behavior of %$" packs.

ITC press Release

http://www.thehindu.com/2007/10/24/stories/20071024 4! 1"00.htm

Researc! #roblem
$his !tudy deals with the %eady to eat Industry in India. $he study also aims at understanding the factors influencing buying decision making of the %$" packs. $he factors under consideration are advertising, price, Product, 4alue proposition etc.

Sco"e of t!e Study


$he project is a study of what are the factors that is affecting consumer buying behaviour of %eady to "at #eals in India. $he study is undertaken to understand all the negative and positive perceptions about the %eady to "at packs. In the study I have highlighted the following pointsF Percentage of people aware about %$" C have purchased it. Percent bought an %$" on monthly basis vs. emergency basis. 6ow did the respondents come to know about %$" K !o that awareness could be increased through those meansL (ritical areas where communication is reEuired to draw a change in the perceptionMattitude of customers towards %$" segment. PointGs people gave to prefer %$" as an option when needed. $op of #ind brand recall 1/nassisted2 for 8eading +rands.

)imitations of t!e Study


5or a generic study like this where the consumers are spread across a wide area of India the sample siHe taken was very limited i.e. 7B. 8ack of first hand knowledge of conducting research.

*efining t!e +ariables


I$%&'&$%&$( V)*+),-&F %eady to "at food #arket D&'&$%&$( .)*+),-&F (onsumer +uying +ehavior

Section,: )iterature Re&iew


T!eoretical Re&iew Introduction
$he ready to eat meal industry consists of two categories, froHen ready meals and canned ready meals. $he market for ready meals in India increased at a compound annual growth rate of =A.9D between @BBA and @B=@.$he canned ready meals category led the ready meals market in India, accounting for a share of 7B.AD. 8eading players in Indian ready meals market include I$( 8imited, 'l ,abeer Group of (ompanies and .rkla 5oods. $he ready to eat foods have gained momentum in /rban India where even women are working and there is time crunch to cook. $he market for %$" industry is -%Is and bachelors. $he Indian food processing industry has changed considerably in recent years to adapt to the demands and lifestyles of domestic consumers, particularly the growing middle class. $his is also due to the rapid expansion of the retail distribution system replacing mall stores and wet markets with modern supermarkets, superstores and convenience stores. Dairy products, deli products, snack foods, ready&to&eat and ready&to&prepare meals are currently the most rapid growth product categories in the domestic market.

T!e current scenario


$he ready&to&eat 1%$"2 market in India, currently estimated at %s. =@: crore 1@BB72 is expected to expand to reach %s. @,<BB crore by @B=>, according to an analysis done by $ata !trategic #anagement Group 1$!#G2. $he report also highlights that the %$" market in India has remained under&penetrated owing to factors such as consumersG penchant for freshness, low affordability and the Indian housewifeGs preference for home&cooked food. 'ccording to data in the reports, packaged foods in India have grown at about seven per cent a year between @BBB and @BB>, with %$" foods being the fastest&growing, at a ('G% of 9A per cent. the factors contributing to the growth would be changes like cold chain development, disintermediation,
"

streamlining of taxation, economies of scale on the supply side, coupled with increasing disposable incomes, diminishing culinary skills and the need for convenience on the demand side.

%arket
$here is a huge untapped market opportunity arising due to rapid demographic shifts in income, urbaniHation, and proportion of urban working women in India. $he industry needs to concentrate on broadening the market and increasing penetration amongst Indian consumers. $he analysis also pointed out that industry players would have to significantly improve their price competitiveness with respect to other options such as domestic help, eating out and ordering in, available to the Indian consumer. +esides price consideration, the product range offered by industry players will have to be strengthened.

-nder.ser&iced
't the moment, the regional cuisine and non&vegetarian cuisine markets are relatively under& serviced with concentration on the vegetarian -orth Indian meals. Pankaj Gupta, Practice 6ead&(onsumer C %etail, $ata !trategic, said, )'ccording to our analysis, India provides an attractive opportunity for both Indian and international players with a mix of demand and supply side changes. If consumer demands of affordability, availability and enhancing acceptability are met, the %$" foods market has the potential market siHe of @,<BB crore by @B=> from its existing %s. =@: crore.

C!allenges
#ost urban families are strapped for time. !o we would conclude that the %$" foods would be a necessity, however, this is not the case. $he %s =AB crore markets have stayed stagnant over the past three years. $hatNs because in India people still believe in cooking and serving food. 'dditionally, $he %$" foods have to compete with restaurants, cooks and consumers penchant for cooking. .ver and above, the pricing is higher range which has made it an occasional purchase item rather than regular buying.

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Researc! ased )iterature Re&iew Researc! #a"er Abstracts


R&)%/ T0 E)( F00% I$%12(*/ !ourceF www.opppapers.com $he project report deals with research done on the %eady to eat industry in India. It was research done by students. $he analysis has been done based on the primary data 1which are collected through survey C personal interview2 and secondary data 1which are collected from different sources like internet, magaHines, and reports of different Government agencies2. $he project covers the current news on ready to eat food

R&)%/ M&)-2 +$ I$%+) (0 2#13

!ourceF www.marketresearch.com $he report provides data and information on the ready to eat eat meal market in India. $he is a comprehensive report covering category and segment level data including value, volume, distribution share and company C brand share. H+34-+34(2 $he market for ready meals in India increased at a compound annual growth rate of =A.9D between @BBA and @BB:. $he canned ready meals category led the ready meals market in India, accounting for a share of 7B.AD.8eading players in Indian ready meals market include I$( 8imited, 'l ,abeer Group of (ompanies and .rkla 5oods.

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R&)20$2 (0 !1*54)2&

Develop business strategies by understanding the Euantitative trends within the ready meals market in India Design effective marketing and sales strategies by identifying key market categories and segments

Identify key players within the market to plan lucrative #C', partnerships and agreements

CS M)*6&( R&2&)*54 *&'0*( (ountryF India $he project report gives a detailed analysis of the Indian food processing industry. $he factors influencing the growth pattern is attributed to the rapid expansion of the retail distribution system replacing mall stores and wet markets with modern supermarkets, superstores and convenience stores. Domestic processed food consumption will continue to grow as IndiaGs population increases, and as incomes increase and lifestyles change, a higher proportion of processed food and beverages are included in the diet. $he consumer food industry mainly consists of ready&to&eat or ready&to&cook products such as noodles, cocoa based products, bakery products, biscuits, soft drinks,and snack food.

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Article Abstracts
I$%+)$ F00% I$%12(*/ !ourceF httpFMMwww.indianfoodindustry.netM $he article deals with the Indian food processing industry. $here is an opportunity for large investments in food and food processing technologies, skills and eEuipment, especially in areas of (anning, Dairy and 5ood Processing, !pecialty Processing, Packaging, 5roHen 5oodM%efrigeration and $hermo Processing, 5ruits C 4egetables, 5isheries, #ilk C #ilk Products, #eat C Poultry, PackagedM(onvenience 5oods etc $his shows that there is large scope for growth for %$" industry and studying the factors influencing the industry and industry should consider all these factors to get a share of the growing %$" market. R&)%/7(07&)( 2&38&$( 94&(2 NRI )''&(+(& !ourceF +usiness 8ine $he article states that there is a market for %$" industry outside India i.e. the -%I industry. C006+$3 8)%& 50$.&$+&$( !ourceF $he 6indu $his article elaborates on the need for %eady to "at foods. It also discusses how %$" has penetrated In the retail distribution network. It also discusses the various competitors in this segment and the pricing strategy on these companies. S01*5&: R&2&)*54 *&'0*( 0$ R&(0*( !)56)3+$3 %eady to "at #eals like already cooked or prepared lunch C dinner are relatively new products which came in market only a few years back and are now sold through retail general stores in especially made sealed aluminum laminates.

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MARKET & ITS GROWTH OI$he popularity of ready to eat packed food now is no longer marks a special occasion. Peoples want value for time, money in terms of Euality and variety. OI$he food processing industry is one of the largest industries in India and it is the ranked fifth in terms of Production, (onsumption, "xport C "xpected growth.

S01*5&F www.marketingpractice.blogspot.com 'ccording to I$( press release on #arch @BB:, Indian %$" market is worth around %s :B&=BB crore. $he market is somewhat in a stagnant state and the growth is minimal. $his article deals with the rising prices issue that might have an impact on the %$" industry.

R&)%/ (0 E)(: I$%+)$ '*05&22&% )$% ')56)3&% :00%2 !ourceF www.garamchai.com $his article discusses the take off of ready to eat industry due to demand from -%IGs. It also lists the various players in this segment along with their product offering. $he article states in spite of the stagnant growth in Indian market the companyGs sales are fast gaining momentum due to the sales driven by -%I market.

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Section /: Researc! %et!odology


Researc! *esign
' research design is the arrangement of conditions for collection and analysis of data Ina manner that aims to combine relevance to research purpose with economy procedure. %esearch design is the conceptual structure within which research is conducted. $here are three types of research design. $he research design adopted here is descriptive. I have made use of secondary data collection and also primary data collection. $he project started with sorting all the raw data and arranging them in perfect order. $he research problem was defined understanding the collected data. $o fulfill the objectives of the study a narrowed approach to secondary data collection was used and primary data collection was done by using survey Euestionnaire. S(&'2 +$ (4& *&2&)*54: (ollection of data pertaining to %eady to eat market and identifying the research problem. (ollection of data from secondary data related to the research problem. Primary data collection using Juestionnaire targeting a sample siHe of more that >B.

*ata collection %et!odology


$he sources of data used in this project report are both primary and secondary data.

!*+8)*/ %)()
Primary data consists of original information gathered for specific purposes at hand. $hese are gathered for a specific purpose or for a specific research project. Primary data was collected online as well as manually. ' survey Euestionnaire was made on Google Documents and the link was mailed to the sample. 'dditionally, to the sample that were not net savvy printouts of the Euestionnaire was distributed and the result was compiled.

S&50$%)*/ %)()
!econdary data consists of information that already exist and that were being collected in the past for some other purposes. !econdary data used in this study were collected from external sources like books, blogs, wiki etc. !ome websites which were really helpful are www.slideshare.com, www.scribd.com.

Sam"le design
$he sampling techniEue used for survey was a non&probabilistic convenience sampling. $he sample siHe was chosen keeping in mind the target market for %$" segment, 6ostelMpaying guest, Individuals working living in nuclear families and bachelors between the age group of =:& 3B.

T00-2 ; T&54$+<1&2
Data was collected with the help of Euestionnaire. $he Euestionnaire is of structured non& disguised type. $he Euestions are of mixed type. It can be found in the 'nnexure. 5or online survey, Euestionnaire was prepared using third party tool 1www.docs.google.com2, email for filling Euestionnaire was send to potential respondent and response was collected on the third party site on which Euestionnaire was prepared. $he third party tool made data reliable owing to the self&reported demographic attributes of the respondents. $he email invitations provided a direct link to the survey, and contained the language which is given in 'nnexure. $his was complete method followed for conducting study. $he Euestionnaire was also distributed personally to respondents in the form of printouts and this was eventually collected and report generated.

Sam"le Si0e
$he total no of respondents were 7B of the total =BB approached. $he age group in which the sample lied is =:&3B.$he occupation of this sample siHe was a healthy mix of self employed

1!

individuals, working people and students. $he respondents included =9 people from 6ostelPPaying guest which form a large chunk of the target market for %$" foods.

Section 1: Results and $indings


Given a Normal Week, Are Meals(i.e Lunch & Dinner) cooked at home.
7& 1 & !!& 12& 0& '#(s. )** d#(s +ee$ '#(s +ee$ ,nds -e.er
"igure: 1

$he pie chart above depicts a typical Indian households mentality of cooking food at home almost on all days 177D of respondents2. It was followed by => D of respondents cooking on week days.

On days hen meals are not cooked at home, ho do you mana!e" (#hoose more than one i$ a%%lica&le.)
12 34 2" 10 20 30 40

+e pic$ up # /e#d( 0o , #t P#c$et +e order food from # rest#ur#nt +e .isit # /est#ur#nt 0 +e .isit # /est#ur#nt

+e order food from # rest#ur#nt

+e pic$ up # /e#d( 0o , #t P#c$et

"igure: & 17

;hen the meals are not cooked at home the most favorable option that consumers feel is ordering food from the restaurant. $he percentages here might add up to more than =BB as respondents were allowed to chose more than one option.

H).& /01 4&)*% ),01( RTE 8&)-2=

1 es -o

"igure:

's is seen from the above pie chart the sample was aware of the %$" packs hence the responses were fair and true to their experience.

1%

'ave (ou )urchas ed *eady +o ,A+ Meals Anytime"


1 es 13& -o

%7&

"igure: '

:9D of the respondents have used the %$" meals and have given their rating based on their usage and their experience. 5rom this we can conclude that %$" has penetrated sufficiently in the Indian /rban market.

(ou )icked u% *eady +O eat %ack


+hi*e shoppin2 for 34-0561 G/47,/1items S eper#te*( durin2 , mer2enc(

32&

!%&

"igure: (

7:D of the respondents said that %$" packs are part of their monthly grocery shopping and not emergency purchase. "ven for emergency purchase the A@D is Euite a huge number. ,indly take note that the sample for this Euestion are the one who has purchased %$" packs as seen in the previous Euestion.

1"

'o did you come to kno A&out the *eady +o ,at %acks"
4ther 'isp*#( #t 3#**s +ord of 3outh 08 7ommerci#*s 0 10 20 " 4ther 'isp*#( #t 3#**s +ord of 3outh 08 7ommerci#*s 31

27

30

40

"igure: )

's is seen form the above chart the %eady to eat meals have the highest visibility in malls and $4 commercials. $he companies should leverage these options to increase the visibility and the penetration of the %$" packs.

2indly Rate your o"inion on t!e following "arameters:

20

A Ready to Eat Pack saves lot of time and effort in cookin

Strongly Agree Agree Neither Agree Disagree Disagree Strongly Disagree

or

14 42 4 0 0

"igure: * A !ack of Ready to eat "as s#fficient $#antity

Strongly Agree Agree Neither Agree Disagree Disagree Strongly Disagree

or

4 25 13 15 3

"igure: + A Ready to Eat !ack is easily availa%le &"enever I need it'

21

Strongly Agree Agree Neither Agree Disagree Disagree Strongly Disagree

16 31 or 10 3 0

"igure: , I don(t see any sort of "ealt" !ro%lem d#e to t"e cons#m!tion of RTE
Strongly Agree Agree Neither Agree Disagree Disagree Strongly Disagree 2 13 or 22 19 4

"igure: 1-

I t"ink a Ready to Eat )RTE* is val#e for money

Strongly Agree Agree Neither Agree Disagree Disagree Strongly Disagree

1 20 or 25 9 5

"igure: 11

22

I t"ink T"e RTE meal is not tasty as fres"ly cooked food'

Strongly Agree Agree Neither Agree Disagree Disagree Strongly Disagree

or

14 27 11 6 2

"igure: 1&

I &ill s#rely #se RTE c#rry if ready to eat rotis are also made availa%le'
Strongly Agree Agree Neither Agree Disagree Disagree Strongly Disagree 2 17 15 18 8

or

"igure: 1

23

I kno& t"at RTE !acks are man#fact#red at %est $#ality standards'

Strongly Agree Agree Neither Agree Disagree Disagree Strongly Disagree

2 17 or 33 6 2

"igure: 1' 's seen from the series of %esults the following observations can be madeF >7 respondents i.e. <A D of respondents believe that %$" meals are a time saving option for cooking. $he marketers should use this as their /!P to the advertising and positioning should be done on these lines. .nly @< respondents feel that %$" packs have enough Euantity and =: feel they donGt and the rest have no opinion on this matter. ItGs a mixed reaction and response. $he general conclusion that can be drawn is that people donGt feel the Euantity is enough for the money they are spending. !ome verbatim to support )+#antity s"o#ld %e ood.* 39 respondents i.e. 9: D of the respondents feel that the %$" packs are easily available when needed. $his shows the commendable distribution network established by %$" marketers. @A respondents feel that %$" packs are not good for health while only => respondents feel otherwise which is concerning statistics for the %$" companies. ;hen a product is considered harmful for health its reliability decreases and brand value loses. !ame is the

24

case for %$". $his could be one of the reasons why in spite of efforts taken by companies the growth in %$" segment is stagnant. ;ell, this is very critical factors as lot of respondents commented one the health factor of %$". !ome 4erbatim to support this, )Ready,to,eat meals- t"o# " a time,savin o!tion- are sometimes vie&ed &it" s#s!icion %y many %eca#se of t"e #s#al concerns associated &it" !acka ed food'.- / If t"e man#fact#rers can re!ose confidence %y eliminatin all do#%ts in t"e cons#mers0 minds and ass#re t"em t"at t"ese !rod#cts are not a "ealt" "a1ard- t"en t"e cons#m!tion may increase.- / S"o#ld "ave more n#tritional val#es.- /#se of less !reservatives.- /make it more Healt"y'''RTE MEA2S contains lots of #nsat#rated fats.* @= respondents feel that %$" packs are value for money while only =3 people feel they are not while the rest @> respondents did not agree on either. !ome verbatim to support the observation, )alt"o# " t"ey are ood eno# " for eatin %#t t"ey are almost on oar sometimes costlier t"an food from resta#rants &it" res!ect to !rice' So it doesn(t make sense to me'. 3= respondents feel that %$" meals are not tasty as home made meals and only : people feel otherwise. $his depicts uniEue characteristics of Indian household which always believes that home made foods are more tasty and nutritious. 's the results suggest A: people are not sure whether ready to eat meals are manufactured under best Euality standards. /If t"e man#fact#rers can re!ose confidence %y eliminatin all do#%ts in t"e cons#mers0 minds and ass#re t"em t"at t"ese !rod#cts are not a "ealt" "a1ard- t"en t"e cons#m!tion may increase'.

D0 Y01 R&8&8,&* )$/ 0: (4& R&)%/ (0 E)( ,*)$%2= #aggi was the most mentioned name. It has top of the mind recall. $he other mentioned names were #$%, 'shirwad, $op ramen, Gits, 6aldiram, (hingGs ready to eat (hinese dishes, ,nor soup '($ popcorn etc.

Section 3: Conclusion and Recommendations


Conclusion
's is seen from the results and findings section I could identify the following factors influencing %$" consumersF !*+5&& Indian consumers are highly price sensitive. 5or any new product they judge the product based on their price and more or less the repeat purchases are impacted by price factor. !ame is the case with %eady to "at foods. V)-1& '*0'02+(+0$ K %$" foods should be perceived as a value proposition by customers. 4alue proposition means it should be able to save lot of time and money with sufficient Euantity to act as a full meal. V)-1& :0* 80$&/ & (onsumers should perceive %$" packs as 4alue for money i.e. they should feel the money they spent on It is well spent and not wasted. $his is where repeat buying can be induced. If consumers see %$" as a 4alue for money option they wonGt look for other options like ordering from restaurant or going to a restaurant. >1)$(+(/ )$% ()2(& 0: :00% & Indians are voracious eaters and the family siHe is also large. 'nd Indians are used to eating a A full course meal on any day. 6ence the Euantity packaged in the %$" packs should be sufficient. 'nd that is were the buying decision will come into play if the Euantity is insufficient to fulfill the entire family then defiantly they wont consider buying it again. $he food should also tickle the taste buds of consumers. M)$1:)5(1*+$3 50$%+(+0$2 & 's is evident, the $arget market for %$" foods are the educated individuals who are short of time. $hese educated individuals have

2!

their own opinion and wont take anything as given and health being their main concern in this fast paced life. E)2/ ).)+-),+-+(/ & $he biggest competitor for %$" foods are restaurants which are easily available geographically and accessible with the option of doorstep delivery. 6ence %$" has to be made available in such way that it can be easily accessible by the consumers during normal shopping as well as during emergencies.

Recommendations
's per my study the following recommendations could be utiliHed by the companies manufacturing and marketing %eady $o "at #ealsF

's is seen from the survey the major concern for consumers is the health aspect. $hey have a perception that these %$" meals are not manufactured under good conditions. !econdly, they also feel that %eady to eat meals is not good for health. 6ence marketers have to touch upon this point. $he advertising, communication and promotion should revolve around this point. Packaged foods are relatively new to India hence proper awareness have to be created by companies.

Indian 6ouseholds are averse to outside food and they feel only home cooked food can provide the taste and Euality. $his is a big hurdle for the %$" industry and the efforts should be taken to improve the Euality of the food by using better manufacturing, and packing methods. /34 res!ondents feel t"at RTE meals are not tasty as "ome made meals and only 5 !eo!le feel ot"er&ise'. T"is is states t"at need to %e c"an ed'

$he ready to "at marketers should bank upon its strengths i.e. time saving, effort saving and easily available option. $he promotion, Packaging should revolve around these characteristics as we all know in the traditional Indian urban family time is less. People crave to spend time with their family after hard day at work. 6owever, various limitations like cooking food etc hamper this. %$" should consider this as their !ositionin strate y'

27

$he pricing strategy should be designed in such a way so as to be competent with the restaurants rate. People do not mind spending more if it saves time. 6owever they will spend only a reasonable hike in price. If there is a lot of difference between the restaurant price and %$" price they would go for the former.

In the previous section its is seen that the consumers came to know about %$" packs from $elevision 'ds and display at malls and the word of mouth was virtually nil. $his proves that two promotion methodologies were very effective. $he third and the most important as far is food products is concerned )word of mouth* is where marketers should work on. $his can only happen if the consumers are satisfied with their experience and will they give a positive word of mouth feedback to their relatives and friends. $his is the most effective form of communication when it comes to some thing edible as Indian consumers tend to trust people who have already sued it rather than advertisement.

2%

Section 4: ibliogra"!y
''2S
,othari, (.%, %esearch #ethodology, !econd "dition, -ew Delhi, ;ishwa Prakashan, =<<B

5E .RES'-RCES
httpFMMwww.statusa.govMmrdQa.nsfMvw-oteID8ookupM-$BBBA('7@MR5ileMSQ3=A7@<.PD5L.pen"lement httpFMMwww.tsmg.comMmedia&and&press&releasesM@=<&ready&to&eat&foods&market&in&india.html httpFMMwww.indianfoodindustry.netM httpFMMwww.thehindu.comM@BB9M=BM@3MstoriesM@BB9=B@3>37>=<BB.htm httpFMMwww.oppapers.comMessaysM%eady&$o&"at&5ood&IndustryM=<:A>@ httpFMMwww.hinduonnet.comMthehinduMmpM@BB3MB7M=BMstoriesM@BB3B7=BBB=ABABB.htm httpFMMwww.thehindubusinessline.comM@BBAM==M@3MstoriesM@BBA==@3BB93BABB.htm httpFMMwww.marketresearch.comMproductMdisplay.aspLproductidT@>>@7ABC!IDT7A@@<7>B&37A>793A7& 3B<A=:>>: www.marketresearch.com www.hindubusinessline.com www.marketingpractice.blogspot.com www.garamchai.com

2"

't!er References
#r. !anjeev +anga, -"; "%' .5 I-DI'- %"'D0 $. "'$ 5..D. (! #arket %esearch %eport, 5ood additives, India, @BB>

Section 6: Anne7ure
Anne7ure 1: T!e "rinted 8uestionnaire
P6,)S, 9:66 05, ;<,S0:4--):/, )-' /,P61 5,/, -indly tick the most a%%ro%riate &o. &lanks. ith a /0/ herever a%%lica&le 1 $ill the

1. Gi.en # norm#* wee$= #re me#*s >i.e *unch ? dinner) coo$ed #t home for
ALL DAYS WEE DAYS WEE ENDS NE!E"

2. 4n d#(s when me#*s #re not coo$ed #t home= how do (ou m#n#2e@ (Select more than one If applicable)
We #isit a "esta$rant We or%er &oo% &ro' a resta$rant We (i)* $( a "ea%y +o Eat ,a)*et

3. 5#.e (ou he#rd of *,AD( +O ,A+ me#*s@ 4. 5#.e (ou purch#sed *,AD( +O ,A+ me#*s #n(time@

YES

N-

YES

N-

. 'o (ou remember #n( of the *,AD( +O ,A+ br#nds@ 1. AAAAAAAAAA 4. AAAAAAAAAA !. 1ou pic$ed up # *,AD( +O ,A+ p#c$ 2. AAAAAAAAAA 3. AAAAAAAAAA

While sho((ing &or MONTHLY GROCERY ite's

Se(arately DURING EMERGENCY

30

7.5ow did (ou come to $now #bout the /e#d( 0o ,#t P#c$s@ >choose more th#n one if #pp*ic#b*e)
+! .-//E".0ALS D0S,LAY A+ /ALLS W-"D -1 /-2+3 -+3E" S-2".ES 4,LEASE S,E.01Y5 6666666666666

%. Bind*( r#te (our opinion on the fo**owin2 p#r#meters:C


STRONGLY AGREE

AGREE

NEITHER AGREE?NOR DISAGREE

DISAGREE

STRONGLY DISAGREE

) /e#d( 0o ,#t P#c$ s#.es # *ot of time #nd @)A effort in coo$in2

@,A h#s sufficient Du#ntit(

) p#c$ of /e#d( to e#t

) /e#d( 0o ,#t P#c$ is e#si*( #.#i*#b*e @5A whene.er : need it : donEt see #n( sort of he#*th prob*em due to the consumption of @%A /0,

@&A .#*ue for mone(

: thin$ # /0, p#c$ is

: thin$ the /0, me#* is not #s t#st( #s fresh*( @:A coo$ed food : $now th#t the /0, P#c$s #re m#nuf#ctured #t best @3A Du#*it( st#nd#rds : wi** sure*( use more /0, P#c$s if re#d( to e#t rotis #re #*so m#de @4 #.#i*#b*e )n( su22estions or comments on *eady +o ,at Meals2

31

0he inform#tion be*ow wou*d be needed to bui*d # consumer profi*e. : hereb( #ssure (ou th#t all the inform#tion wi** on*( be used for the purpose of the stud(.

1. Gender 2. )2e Group 3. 3#rit#* St#tus

/ALE

1E/ALE

18725

26740

41755

A8o#e 55

S0N9LE

/A""0ED

4: -))$(ation

SE"!0.E SEL1 E/,L-YED 3-2SEW01E "E+0"ED;-+3E"

<-0N+ 1A/0LY N2.LEA" 1A/0LY W0+3 0N7LAWS 3-S+EL ; ,AY0N9 92ES+ ; -+3E"

. :

1ou be*on2 to #

!. 7ou*d (ou $ind*( tic$ (our 2roup #s per +otal 3amily 4ncome per month

32

Less than 20=000 20=000 > 50=000 50=00071=00=000 A8o#e 1=00=000

Anne7ure ,: T!e online 9uestionnaire:


0his #nneFure cont#ins em#i* form#t which is #n in.it#tion for t#$in2 p#rt in sur.e(. 0his em#i* in.it#tion w#s send for on*ine sur.e(.
5e**o=

P*e#se 9i** the be*ow 2i.en Duestionn#ire. :ts for #n #c#demic proGect . 0he stud( is on the /e#d( to ,#t 3#r$et in :ndi#. : reDuest (ou to c*ic$ on the *in$ or cop( p#ste the </6 in (our browser t#b. : #ssure (ou it wi** not t#$e more th#n fi.e minutes of (our time #nd it wi** 2re#t*( he*p me in prep#rin2 # 2ood report. 9or #n( Dueries fee* free t o cont#ct me.

http://spre#dsheets.2oo2*e.com/.iewform@form$e(Hd93t/,-$/mJ8+GpF/IJ.8<pt/,1502c!3)

0h#n$s ? /e2#rds= Shruthi$# B#nch#n

33

elow is t!e screen s!ot of t!e online 9uestionnaire:

34

3!

37

3%

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