SKILL LINKED IMMERSION PROJECT (SLIP)

Project Report


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POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM)
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on

_______________________________________________________________
_______________________________________________________________
(Topic of the SLIP)



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SIES COLLEGE OF MANAGEMENT STUDIES
Submitted by
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Batch 2012-14
SIES COLLEGE OF MANAGEMENT STUDIES
NERUL, NAVI MUMBAI






DECLARATION



I, ________________________, student of POST GRADUATE DIPLOMA IN
MANAGEMENT (PGDM) at SIES College of Management Studies, Nerul, Navi Mumbai,
hereby declare that I have completed the SKILL LINKED IMMERSION PROJECT
(SLIP) titled __________________________ as a part of the course requirements for
POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM) Program.


I further declare that the information presented in this project is true and original to be best of
my knowledge




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Place:





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This is to certify that Mr. / Ms. ________________________, studying in the first year of
POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM) at SIES College of
Management Studies, Nerul, Navi Mumbai, has completed the SKILL LINKED
IMMERSION PROJECT (SLIP) titled __________________________ as a part of the
course requirements for POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM)
Program.




Date:

Place:





Signature of the Faculty Mentor













Reading Books:
The Fortune at the Bottom of the Pyramid, C.K. Prahalad
Rural Marketing-second edition, Pradeep Kashyap
Topic: Understanding the different formats of retail with respect to availability and
distribution
Availability is one of the 4 As of Rural marketing, other three being acceptability, awareness
and affordability, all of which have been designed to make an appropriate marketing strategy
for the rural markets. The project will be focused on reaching out that last mile which is a
herculean task in distribution activities.
Objective:
The primary objective of doing the SLIP project was to find out the following
What are the different formats of retail that are available in rural markets?
How rural markets are different from urban markets?
How a sales manager or a marketing manager does forecast the rural demands?
What is the distribution network design for FMCG?
What are the different marketing channel strategies in place?
What are the different challenges in rural marketing for a company with respect to
availability?
Finally why only few companies became successful in tapping rural markets














Acknowledgement:
During the course of SLIP project we met many people from which we got primary
information,with out whom the project would not have been possible. We would like to thank
each one of them
Mr Mahindra Shinde , Area Sales Manager ,
Mr Amit,Territory Sales Executive, Rural Pune District, Pune
Mr Titash Mitra, Commercial Manager, Life Care Group(CFA)
Mr Santosh Shegde, PSR , Marico
Mr Sanjay,PSR, Marico
Mr Archies, Owner , Pravin Agency(Super Distributer)
Mr Motiram Mane , Chief Operator , Pravin Agency
Lastly we would also acknowledge and thank many retailers and wholesalers who helped us
in the process of the report.























About Marico:

Marico is one of India's leading Consumer Products & Services companies in the global
beauty and wellness space. From its foundations, Marico has worked outside the box, to bring
innovation to its customers through the careful creation of continuous and sustainable change.
Today, 1 out of 3 Indians uses a Marico product. From cooking oil with 'LoSorb Technology',
to rice that keeps you active, personalised skinscription services and hair oil that comes with
a battery-powered head massager, Marico believes that it pays to think differently. We have a
flat organisational structure, with just five levels between the Managing Director and the shop
floor operator. We believe in transforming the lives of all stakeholders be it our suppliers,
farmers, distributors or shareholders by helping them maximise their true potential and it
truly articulates the true Mariconian spirit to be more. Every day.


The company recorded a turnover of approximately R.s 4000 crores.Our vast portfolio of
enduring brands such as Parachute Advanced, Saffola, Hair & Care, Nihar, Mediker, Revive
and Manjal are leading household names today. In addition , the company has recently
acquired the erstwhile personal care business from Reckitt Benckiser. Marico now owns
popular brands like Set Wet, Livon, Zatak , and other personal care brands thereby
strengthening its portfolio for the youth and creating a significant presence in the male
grooming and post hair wash segments.

Marico's international portfolio includes brands like Fiance, Haircode, Camelia, Aromatic,
Caivil, Hercules, BlackChic, Code 10 and Ingwe. Marico is effectively present in Middle
East , Bangladesh and Singapore. Marico is present in more than 25 countries across Asia and
the African continent
*information taken from www.marico.com




Slip Project



It is not necessary that certain brands that are popular in the urban markets achieve the
same success in the rural markets and sometimes a local brand can make it big in the
rural. This unpredictability is because of the different thought process that an urban and a
rural consumer have. For example the rural consumer is more cost conscious and
affordability becomes a major issue to tackle for the marketers. A consumer in rural India
is also more value conscious and the biggest challenge for success in rural markets is
providing best value at an affordable cost.
The rural markets
What differentiates the two markets is not mere income, but a host of other infrastructural
& socio-cultural factors. Thus, the rural market cannot be tapped successfully with an
urban marketing mind set & would definitely require its thorough understanding. Marico
has the best reach in terms of availability in rural markets and its parachute oil is available
over the counter even in the interior most rural India. In Maharashtra the Parachute enjoys
immense brand loyalty and unchallenged popularity. So how has Marico successfully
achieved this feat of reaching almost every outlet in the every corner of the country?
Firstly, rural marketing cannot be considered any longer a subdivision of urban marketing
but it is a new mainstream altogether. In other words, the approach toward rural markets
needs to be distinct from the one adopted for the urban markets.
For Marico also the approach is different in rural and urban marketing. The primary
distinction is the presence of super distributor who is an intermediate between the
warehouse and the stockist. Marico's distribution width and penetration is acknowledged
as one of the best in the industry and is a leverageable strength.












Distribution network design for Marico in rural markets.













Distribution network for Marico in Rural Markets
Distribution Channel:
Urban Chain: WarehouseDirect DistributorWholesaler / Retailer
Rural Chain: WarehouseSuper distributor StockistWholesaler/Retailer
CFA/
WareHouse
SD SD
SD
SD
Stockist
Stockist
Stockist
Stockist
Stockist
Stockist
Stockist
Stockist
Stockist
Stockist
Stockist
Direct
Stockists
R
R
R
W
W
R
W
R
W
R
W
R
W
R W
R W
R W
R W
R
W
R W
R



The above screen clipping is from Maricos 2012 Annual report which provides facts and figures
about the distribution network of Marico
The rural markets is also divided in to three parts on more generic terms for
distribution purposes
Wholesaler
Chemist
Others
Others category occupies a huge chunk of distribution network which are normal
retailers, kirana shops, small road side shops and also stalls in the weekly markets that are
famous in this part of the country.
Weekly Markets in Pune District: We got to know that there are weekly markets
happening in some or the other part of the region on daily basis, for example there is a
Friday market that happens in Yevat village and Saturday market that happens in Loni
Kalbhor village(note that this is a case of indirect distribution). Here the rural retailer
travels to different villages on daily basis and sells the goods in the respective markets.

Concept of Super Distributor:
The concept of super distribution was introduced in Marico in the mid 90s when
companies had already begun to understand the enormous potential of the rural markets.


Marico was pioneer in establishing an effective super distribution network and companies
like Godrej, Colgate, Amul etc. followed this strategy.
The need for hiring a super distributor arises because it is not feasible for a company to
handle all operations from a central hub and hence delegation of work is very important.
Also to cover such a geographical area requires focused networking and relationships
which can be made possible because of this model.


The above is snapshot of felicitation certificate for Pravin agencies, Super Distributor for
Marico in Pune district and neighbouring districts. Pravin Agency is situated in a town
called Urli Kanchan (population of 60,000 +) which is a fast growing town because of
manufacturing industries incubating in the area. Similar is the story of several indian
towns.
The above felicitation was for the Angol Program , when enquired we got a brief about
the program and its history associated with Marico.


Angol Program : Historically, It was a program launched by Marico when scented oil
market was not large enough. Scented oil was still a premium product and people in India
used to buy scented oil only on special occasions, one such very special occasion was
Diwali, Peheli Angol or the Abhyang Snaan( i.e. the first auspicious bath). The Marico
decided to capitalize on this consumption opportunity by launching the Angol Program.
This perfumed oil market grew because of such initiatives, and probably because of this
program people became habitual to use perfumed oil throughout the year.
Marico involves each and every partner of its when it launches schemes like this, hence it
was necessary to mention about this when I explain about the distribution channel. A
competitive environment is created among the channel partners, which is finally
responsible for boosting sales. Now Marico has many products lined up in perfumed oil
category from Hair N Care, Parachute Jasmine( a fragrance oil having a cultural bonding
with Indians) and Nihar Shanti Amla ( a almond scented hair oil brand purchase from
HUL) and many others.

Distribution network in Rural:

The work at the super-distributer level is handled by a TSE (ie a Territory Sales
Executive). In general a TSE handles the entire rural operations and is responsible for
super distributor to stockist activity

The distribution in the rural can be direct selling via a ISRs (Interim Sales
Representative) who in Pune rural are responsible for 6 ISR towns which involves direct
selling from depot to stockist. Other than that the main stream distribution in the rural
takes place as mentioned before via a super distributor to a stockist and then to the retailer
.A stockist basically would be handling towns and villages depending on the size and the
population of the place. Here the working of PSR becomes pivotal. PSR or Pilot Sales
Representative works as a intermediate between the Super distributer and stockist and
also facilitates stockist in pushing stocks to the retailers. Also, he has the work of


handling the problems that surface in amidst stockist and the retailer. It is only when the
product reaches the customer that the off take of PSR is complete.





















Factory/
Plant
CFA/
Warehouse
Super
Distributor
Stockist
Retailer/
Whole seller
Primary
Secondary

Consumers
Tertiary










For effective distribution it is of primary importance that a process is properly delegated and
the targets are effectively set. Primary of a stock means having the stock made available for
forwarding and secondary of a stock means reaching it to the next levels(till it reached the
retailer/wholesaler).In a month there will be primary targets as well as secondary targets.
When primary is accomplished i.e. stock is there in the warehouse, it has to be sent to the
stockists or the super distributor to accomplish the secondary targets. The last and final target
for a company is the tertiary target that is when the product reaches the consumer.


Coverage, many a times is indirect, meaning the retailers approach the wholesalers for the
product. The rural villages in India are extremely scattered and many a times they are as
small as 25 -50 houses. It is not feasible to reach each and every retail store. It is when the
distribution cannot afford to reach the shop or the distribution is through wholesaler, the
indirect sale comes in to picture.



The above is a snapshot of a very small villages road side shop near Theur
Patha(approximately 50- 100 houses) on our way to Urli Kanchan town. It was very small
shop and did not have any SKU which was priced more than Rs. 10.It was definitely not
feasible for a company to set up its distribution to reach to a place like this. But still it
had Parachute sachets available. Hence we concluded that Parachute has a brand recall
that shops like this go to the nearby towns to fetch the products
2K Program
However, Marico had launched a 2K in 2008-09 year in an effort to cover all villages
which have population more than that of 2000. A study done at that time revealed that
even such small villages with such small population base were brand conscious. A small
visit in that year in a small village of Junnar with a population less than that of 2000
which had only 2 shops , but amazingly saw only branded items in the shop. Hence
decision of tapping these villages was taken and for administrative purposes it was
decided that an effort to be made to tap each and every village with the population of
more than that of 2000. A managerial level project was thus launched.
Maharashtra is a state where the rural consumer is well aware and brand conscious, so
target set for Maharashtra for rural marketing reach is a village with population more than
2000.However this target depends on state to state market conditions and feasibility .For
example for states like Bihar the target is villages more than population of 5000.


The above information was given by ASM , Mr Mahindra Shinde. He also categorised the
Indian Rural markets in to three primary categories depending on the prevailing
conditions in the market according to which different marketing channel strategies can be
formulated











Good Percapita income
Well aware consumer and Media Bright State
Strong Reach and More Awareness
Rural Markets Type1
(Maharashtra,Punjab)
Includes Tier 3 towns
Blend of Rural and aspirational crowd
Awareness there but still developing state
Rural Markets Type 2
(Andra Pradesh,Gujrat)
Micro Economic Condition bad
Basic needs not fulfilled
Affordibility of product a very big concern
Rural Markets
Type 3
(Bihar, Madhya Pradesh)


PSR(Pilot Sales Representative) and his Roles
Our training involved working with the PSR and we understood in depth the roles and
responsibilities of PSR. He is the super distributor business driver. His schedule of
working involved a PJP (permanent journey plan).
A PSR has the responsibility of 5-6 towns. A PSR duty is to cover approximately 40
outlets in a day according to his pre-planned schedule of PJP.
When we visited Saswad , a town with a population of approximately 50,000 people. The
towns coverage was done in 5 beats( 40 retail outlets make one beat). The 5 beats in
Saswad is divided into two local routes and three van routes. The local routes are the
routes that are directly covered by the stockist (probably in the main town)and the van
routes require extensive coverage because of the reason that they are more geographically
scattered

Working of PSR and the basic selling skill required:
The working of be summarised in the abbreviation PCNOSAF

P-Planning and Preparation
Planning for a PSR is of two types, Primary and Secondary.
Primary plan- Super Distributor Stockist
Secondary Plan Stockist to retailer
The PSR has to daily update his plan sheet and work according to his coverage sheet that
is provided to him.


PDA Provision:
Also for effective planning a PDA (mobile phone with Marico App) is been provided to
PSR, he has to update it regularly. It is provided to assist him with various details for
effective planning at the micro level. It has host of information like channel details,
product details, scheme details. Also he can track the stockists performance using the
details.
C-Calling may begin with greeting and approaching the retailer, This point has been
emphasized because of the importance of relation management with the retailer. In our
project we saw excellent relations maintained among PSR, stockist and the retailer , a
special case that we saw was in a town called Shikrapur which was marred by distribution
problems. But only because of the relations maintained with Marico, the retailers didnt
keep stock of any other company except Parachute, in spite of unavailability
N-Availability N visibility check : Checking whether the stock is present in the shop and
if not making a note of it. Visibility check is done where a PSR convinces a shop keeper
to keep the products properly in the assigned shelf such that it is properly visible to the
customers. He may also advise the shop keeper to keep the products ahead in the shop so
that there may be an impulse buying decision of the product which is critical in FMCG
market .Also if there is dust settling on the product then it is the responsibility of the PSR
to make notice the problem and in some cases clean it himself. We witnessed a typical
case when we asked a shopkeeper why the products of Parachute brand are kept so much
in the back shelf. To which he rebut that Parachute hair oil has such a great brand recall
that they need not be kept in the front shelf and customers who buy Parachute oil are
brand loyalists.

O-Order taking- Once the availability of the product is ascertained, then the foci of
interaction shifts to order taking. The order taking can start with unavailable items or
through a NPLS item(New Product Launching scheme). In the present scenario Parachute
advanced body lotion is a new product which the company wants to focus on.The PSR
has to push in brands according to his target sheet and at the same time convince the
saleability of the product. For example if PSR manages to explain the health benefits of


the karadi Oil -Saffola Brand to the retailer, then possibly the retailer will accept to keep
the stock and manage to pass on the same explanation to customer.
Solving Problem: It is very critical duty of a PSR in which he solves varied problems
from rate issues to L&D(Leakage and Damage) problems.
When we visited a small village called Koregaon Bhima near Shikrapur, there were
distribution where in the wholesaler was making his stock available through a different
distributor town ( Alandi, neighbouring town). So to handle these kinds of problems
requires effective negotiation skills which a PSR has to be inculcate in himself. The PSR
in this case had to go to the root of the problem and inform it to the TSE. Handling
problems like these requires time and effort.
Acknowledgement: Cross checking if the order is proper, check whether it is complete
and when it is ascertained repeating the Order
FeedBack : All the feedback has to be sent to the TSE and in some cases the Super
Distributor so that the problems brought forward and solved.

Schemes promoting rural growth: PRAGATI & BANDHAN




Pragati and Bandhan Schemes are the business motivating scheme for the wholesalers at the
rural level. In Marico terms, it is a WMP(Wholesaler Millennium Point Scheme), Bandhan is
a scheme for a local wholesaler in a stockist town whereas Pragati is a scheme for a
wholesaler in a van town . It is a privileged wholesaler program where every litre of oil
purchased by the wholesaler earns him points.For example selling a litre of Parachute rigid
will earn him one point, selling a litre of jasmine will earn him 2 points and selling ayurvedic
Oil will earn him 4 points. The company has strategically devised the pointing scheme, these
points can be then redeemed at the end of the year or at the time of redemption for a free
gift.For example 5000 points will earn him a television Set or a Gold Chain under the Marico
Pragati Program.









Offers and schemes for driving growth:
Offers and schemes can be categorised in to TO and CO i.e. trade offer and consumer
offer.


The above sheet declares various offers as support and illustrates the various offers to the
stockists as well as consumers. It is basically incentivizing the key persons involved in
the transaction and pushing the product into the market. The sheet also contains coverage
plan in blocks. Typically block report is to be send throughout the month.
For example as per the above coverage plan 60% of the secondary for PSR would be
probably completed by 10
th
of that particular month, PSR may reaches 100% of his
secondary target by 20
th
of that month and final 125 % till the month end which has to be
done by 25
th
Trade Offer:
Schemes made for the wholesaler and retailer is known as Trade offer. These are done to
motivate the whole seller to sell more stock of a particular SKU. For example a retailer is
made available of a `scheme of 18 + 1 on 175 ml Parachute bottle. I.e. for every 18
bottles he purchases he gets an bottle free. This acts as a growth driver for him and he


seeks the opportunity to sell more of those in order to make profits. This is done primary
to push the sales and can be categorised as a below the line activity. In addition a
wholesaler has to be given CD( Cash Discounts)
Consumer Offer:
Offer that the customer gets over the counter are consumer offers. These offers are
printed on the bottles and may be advertised on television. These offer increase the brand
awareness and have an effect on the buying decision. A bottle offering 20 % extra or a
scheme where you get a Santoor soap free for a Parachute bottle you buy are examples of
the consumer offers
`
The figure is an example of consumer offer. During our project we got to know that
Ayurvedic Hair oil( image in the combo offer) was a huge success in the rural
markets, owing to the influence of rural people on Ayurvedic products. The company
has effectively segmented and distributed this product in rural markets

Visibility:
Visibility is one of the most essential elements when it comes to spreading brand awareness.
With respect to rural marketing, the focus of Marico on visibility is little disorganised. When
you compare the rural markets with its urban markets, it is not possible to get the same
quality standards in rural markets. However, the company takes special effort in


merchandising as well as making the products exclusively visible at the outlets. Visibility is
of two types i.e paid and unpaid.
Unpaid visibility: The Company does not allot an extra budget for this activity but in spite of
that this form of spreading brand awareness is very effective. This form involves basic
merchandising which the shopkeeper/ wholesaler is made to endorse in his store. The
visibility of the product is also enhanced when the shopkeeper is persuaded to keep the
product in important place.
In our project we saw, Marico PSRs advocating the shopkeepers to keep the product in a
dominant position. We saw him persuading the shopkeepers to keep the products clean and
tidy by removing the filth and dirt himself or advising the shopkeeper to do so. Also we saw
the PSR advising the shopkeeper to keep the products that are hidden in heap of the stock to
be kept in visible position

A shelf space in a shop at Koregaon Bhima village near Shikrapur Town, Pune District
There is a certain pattern that is followed while you place the stock in the shop which has to
be monitored by the PSR. Firstly the branding has to be made clearly visible when the
product is kept in the shelf and then the pattern of placing the stock should be same in each
and every shop. For example, small 20 ml bottles should be kept in the front in the shelf,
whereas 175ml bottles should be kept back in the shelf.
Paid Visibility: Unpaid visibility can only be advocated but cannot be enforced, hence need
for paid visibility arises. The Company has a budget allocated to this kind of visibility. The
company takes special effort to make an exclusive space available for a particular product. It
could be a newly launched product or product which company wants to focus its advertising


on. We were introduced to certain types of paid visibility by the Area Sales Manager, Pune,
Mr Mahindra Shinde ,when we enquired about the different types of paid Visibility for
Marico that are used in the markets.
1. Category Domination Windows:
A category domination Window means that a shelf which is kept in a more dominant
position over the rivals in the same category .In normal Marico parlance, these are
called catdoms. The products of Marico in that particular category are placed
exclusively in a separate shelf at POS (Point Of Sale). The primary reason for using
catdoms is that exclusivity of the product is maintained and dominant display of the
product acts as a brand promoter. The buying decision also can be influenced because
of the Marico products dominance over rivals in that category.
2. Brand Identical window: A mentioned in unpaid visibility Marico tries to maintain
similar pattern in which the products are placed a particular shop. In the bid to
maintain the same styling norm, it provides the shopkeeper with brand identical
windows and even pays the shopkeeper to maintain the window according to the norm
mentioned.
3. Shelf Display: Shelf are exclusively provided for a particular product, a midsize or a
small size shelf can be provided depending on the size of the shop. The shops are
monitored to keep only Marico products in the provided shelf.
4. POP Posters: Point of purchase posters is a very important branding tool. It is
important to make a very strong brand recall and to induce the customer in to buying.
These posters are also provided in different sizes

All the above are paid brand merchandizing , for example the company spends Rs
450/ month for a Catdom.There may be a merchandizing team also to make effective
the above visual displays. A sales promoter (SP) is responsible for promoting this
kind of activity in Marico.






Forecasting and predictions:
Earlier in the report we elaborated that Maharashtras rural market comes in the category
where consumer is brand conscious owing to considerate media influence. But we cannot
conclude that a certain kind of behaviour will be similar throughout the state, different
regions behave differently. Price dominated buying is a major factor when it comes to rural
markets probably that is why sachets sell in such large quantities in the rural markets. These
behaviour are different in different regions and thedepend on varied factors from consumer
status to habitual consumptions.
There are various ways that it can be predicted, but there is no guarantee that prediction will
turn in to reality. Taking an example from Marico, it had expected Saffola Arise rise to be a
commercial success taking in to account growing health consciousness among people. Marico
was trying hard to position Saffola Arise as a niche product and also had released a
commercial highlighting the benefits of Arise. They had segmented the brand as every day
rice but the fact remains that Indian consumers were not ready to pay a premium for rice as it
is still considered an essential commodity. Company now thinks that selling premium rise is
certainly not the way for profitability and hence has decided to exit from this that market. On
the other hand Safflola Masala Oats


Recommendations
As far as we have observed about the company and its products during our one week slip
project, we just want to share our suggestion with you.
Following are the recommendations are given below:
The company should focus on aggressive advertisement for its brands like body
lotion, hair and care, and Jasmine.
The company can enter into soap industry as it is already present in personal care
industry. Last year they had entered into this industry by launching soap with a name
Manjal which was liked by people but it failed to capture the market because of
weak advertisement and promotional strategy .


The company is also present in edible oil segment with a product name Saffola gold,
but company is charging premium price. The company can also come with low price
product so that they can give competition to its market leader Gemini which is a
product of Cargill.





As far as the distribution in rural is concerned
It should use its distribution strength in India to boost up other brands. For
example, recently acquired Paras brands(Set Wet , Zatak) should be pushed more
effectively because rural consumer is adapting more sooner than ever, and it is
possible that he acclimatises to this new line of products and that forms an
consumption habit.
Focus more on building effective relations with channel partners(CFA, Super
Distributer or stockist) in involving them in strategic decisions and also them
happy by promoting Mariconian Spirit, be more every day, and other initiatives of
motivating them
Finally cost benefit analysis can be done at a micro level for distribution purposes.
This because setting 2000 population as a target can be a loophole in the system if
the consumption there is not profitable. Vice versa if the population is less than
2000 but proximity is less, than it may perhaps be possible to reach the markets







Marico An Information Update for Q1FY13 (Quarter ended June 30, 2012) had the
following mentions about rural Market.
During the 12 months ended June 2012, Maricos volume share represented by Parachute and
Nihar was circa 56.5% (Q1FY12: 53.1%). Its share in the rural markets however is lower in
the range of 35% to 40%. The relatively lower share in rural markets provides headroom for
growth through market share gains.(page 4)
These market share gains have been achieved through providing consumers with specific
solutions, product innovation, packaging restaging, participation in more sub-segments of the
value added hair oils category, continued media support in some of the brands and
penetrative pricing action in others and expansion of Maricos direct retail reach in the rural
markets.(page 4)
Maricos rural sales continue to clock a faster pace of growth than its urban sales. Rural sales
clocked a growth of 26% during Q1FY13 as compared to 18% in Urban. The continued focus
on distribution expansion in rural markets has pushed the share of rural sales to circa 30% of
total Indian FMCG sales. The Company continues to make investments behind strengthening
rural distribution for the long term. While it has not yet seen significant signs of any
slowdown in demand, if the current macro-economic situation continues for an extended
period and the inadequate monsoon fuels inflation, there could be a dampening of demand in
the remaining quarters of this year, particularly in the rural markets.(page 5)
In rural areas where the market share is relatively low as compared to overall market share
the Company aims to gain market share. The Company expects to achieve volume growth 7%
to 8% per annum in the medium term.(page 12)
The Companys efforts in expanding rural reach is also expected to contribute towards
franchise expansion in coconut oils and hair oils.(page 12)