FMS Fiesta

2013
Vishleshan

Aava
Water
s
Team Name
Euphoria
Institute
Shillong

:
: IIM,

Agenda
Industry & Company Analysis
Primary Survey

Evaluation Of Alternatives

Marketing Strategy

Pricing and Promotion

Decision
Robust marketing and branding
Plan

Industry Analysis
Overview of Indian Bottled Water
Industry

Estimated size of Rs 8000Cr in 2011-12 fiscal year with a

CAGR of 18%
Presence of national and regional brands
Market comprises of two segments:
Packaged drinking water: Water from any source which is
treated for consumption
Natural Mineral water: Drawn from a natural source of water
In the packaged drinking water segment major brands
include Bisleri, Aquafina, Kinley, United Breweries and Catch
Natural mineral water market is worth 187Cr (2009-10) with
CAGR 21%
Himalayan, Vedica, Aava, Mulshi, Evian, Perrier are key
players in above segment
Major distribution channels for bottled water include
independent retailers, convenience stores, supermarkets
Southern India is the largest market with approximately more
than 50% market share

What Numbers have to say

Industry Growth

Key Players in the bottled water industry

Bottled water industry growth in India Market Distribution of Bottled Water Industry
CAGR (2000-2016) :
18 %

Overview of Indian Energy Drinks

Industry
Indian energy drink market in 100 Cr, Industry growth rate :

25% CAGR
Multi-national players in the segment: Coca-Cola (Shock,Burn),
Pepsico(Sobe), Red Bull, Powerhorse; Local Players: Goldwin
(Cloud 9), JMJ group( SJ XXX)
250-ml bottle is priced at Rs 75 (price point) [Steep price
preventing a wider consumer base]
25mg of caffeine in 250ml
25% of the MRP to be invested at retailers
From secondary survey reports it has been observed that 19-22
the major factors prompting trial of new drinks is taste and peer
recommendation and in the group 22-26 the main factors
include composition and price as well
Cola sales have been plummeting due to rising health issues

Indian Fruit Juice Industry

The market is expected to grow at 30%
People do not mind to cough a little more
Challenge is the brand consciousness that
works in picking the product and for the
company working in mineral water segment
the process and set-up has to be changed
incurring a lot of initial cost

Overview of Indian Flavored Water

Industry

Flavored drinks market is at nascent stage

Major players in the segment being Dasani, Hint
As health consciousness growing, even those who
want to avoid soda and juice have the unsweetened,
chilled refreshing have something for themselves
For those who crave for soda, fizz version without die
sweeteners
Packaging has a major role to play, as aesthetically
also the appearance has to be enticing

Company Analysis
SWOT Analysis

Strengths

Automated & efficient

manufacturing first of its kind
plant in India

Use of Latest Technology

Clean Room

Lower logistics costs owing to

locational advantage
Opportunities
Packaging variants , unique
design

Increasing awareness about

health

Higher purchasing power

Easy exposure to media and

international lifestyles

Growth of tourism and

hospitality

Weaknesses
Brand awareness and recall is
very low amongst consumers
Higher manufacturing and
production costs
Lack of product variants
Limited target market(Western
India)
Threats

Increased competition from

rival brands like Himalayan,
Vedica, Qua, Evian, Catch

Many product variants and

substitutes by competitors

Problem Statement
Key Issues
Awareness Awareness about natural mineral water is very low amongst
consumers
Diversification Feasibility of diversification by introduction of new
product variants
Target Segment Decisions on target segments whether to focus on
retail of which constitute 10 % share or bulk institutional segments which
constitute 50% share
Marketing & Promotion Lack of adequate
3 Core branding
Competencies
attain
andtopromotion
as
Sustained Cost Structure competitive advantage
compared to other
domestic
and
global
brands
resulting
into
low
brand
Advantages
Diversification
recall and brand awareness
( Manufacturing and
Competitive
distribution)
Advantage
Consumer
Awareness

Product
Product
Lifecycle
Lifecycle
Stage
Stage

Goals to be
accomplished

Diversification

To tap untargeted markets product

diversification is extremely
important
Consumer Awareness
Promotion to increase brand and
benefits awareness among
consumers

Cost Advantage
Lower manufacturing and operating
costs with robust distribution
system

Flavore
d drink
and
Energy
drink

Bottled
Mineral
Water

What People have to say

Impact of Advertising
Highest
High
Average
Less
Least

9% 13%
14%
27%
36%

Voice Of Customer
Analysis
Mean

Gender preferences
Male

Female

Attribute

Parameters rating

Taste; 44%
Advertisement; 9%

Awareness of heath issues related to aerated drinks

25%

46

30%

81

Mean
Performanc
e Rating

Packaging

8.33

Sales
Promotion

10

8.77

Taste

10

9.04

Health Quotient

8.76

10

4.67

8.00

Affordability

10

8.00

Social esteem

8.67

Trust building

6.21

Availability

8.00

Brand Recall

8.65

Variety offered

6.51

Innovation

5.62

Nutrient
Content
Thirst
satisfaction

Variety;
Price 10%
and Quantity; 33%
Status Symbol; 3%

Aava brand

Importa
nce
Rating

Survey Take-aways

Institutional
survey
(Premium
Segment)

Avoid
Inventor
y

Stable
Deman
d

Custome
rs willing
to pay
premium

Service
Quality
at par
with
product

Product
at par
with
social
strata

Affected
by
competitor
s choice

Ye
s

10

12

No

Selection Criteria

Source: Survey Results, Feedback from Mr Shiroy of Aava Waters Ltd

The
The consumers
consumers are
are becoming
becoming
more
more and
and more
more health
health conscious
conscious
with
every
passing
day
with every passing day
The
The taste
taste and
and price
price of
of the
the product
product
are
are the
the major
major driving
driving factor
factor is
is
while
while the
the consumer
consumer selects
selects aa
product
product
Advertising
Advertising plays
plays aa significant
significant role
role
in
in the
the selection
selection of
of aa product
product
The
number
of
female
The
number
of
female
respondents
preferring
a
respondents
preferring a nonnonaerated
aerated products
products is
is much
much higher
higher
as
as compared
compared to
to aerated
aerated products
products
Very
few
consumers
associate
Very few consumers associate the
the
Aava
Aava brand
brand with
with their
their natural
natural
mineral
mineral water.
water. Also
Also the
the brand
brand
recall
among
the
consumers
recall among the consumers is
is
less.
less. There is a significant
discrepancy in the
ratings of nutrient
content,
social
esteem
and
availability

The
natural
The selection
selection of
of the
the
natural
mineral
water
is
dependent
mineral water is dependent on
on the
the
cost
and
quality
associated
with
cost and quality associated with aa
particular
particular brand.
brand.
At
the
same
At the same time
time the
the time
time and
and
amount
of
credit
that
the
amount of credit that the supplier
supplier
is
is willing
willing to
to extend
extend to
to the
the buyer
buyer
also
also plays
plays an
an important
important role
role
The
The choice
choice of
of the
the natural
natural mineral
mineral
water
is
also
determined
water is also determined by
by the
the
preference
preference of
of the
the customer
customer and
and

Evaluation of various products for Diversification

Quantitative Analysis

Flavored
drinking
water

Market
Size

0.25

Future
Growth
Rate

Market
Fragmenta
tion

Image

Populari
ty

Affordabi
lity

Taste

Size of
Target
Segments

Ease to
Entry

Internal
Rivalry

Health

Dearth of
Substitute Total Score
s
66.25
5

Fruit Juices

6.5

2.5

62

Aerated
Drinks

3.5

5.5

2.5

60.5

Mineral
Soda

0.5

49.5

Energy
Drinks

65

Natural
Mineral
Water

2.5

5.5

7.5

66.5

Spring
Water

0.25

62.25

Intrinsic Features for the

Segment

Consumer Preferences

Industry Forces

Among the specified segments, we see that there are three segments which score above the rest Flavored water, Energy drinks and Natural Mineral
Since there are not many players in
At present Aava mineral water is losing
The energy drink segment is
Water
this segment and the market is still
its controlling stake in the market
gaining huge popularity among
in its stage of infancy and there is a
huge opportunity for entering into
this sector. The target audience for
this product would be young females
since it has been seen that females
generally prefer non aerated drinks
and also are health conscious.
Hence, it would act as a substitute
for softGood
drinks
Bad

Color Code

10

consumers who are gregarious and

active. The target audience would
be premium segment with young
and middle aged consumers. Since
Aava has an experience and brand
image for natural mineral water
among the elite consumers, it can
leverage on this to introduce the
energy drink into this segment

Parameter Value Score

REFER APPENDIX II,III for ratings

especially in the west regions where it

once held a strong position. It is observed
that the brand recall of the product is less
even though the product is of good
quality. This lag in communication can be
bridged by promoting the product
packaging as eco friendly and green
which would act as a differentiator for the
product

Energy
Drink
Aava
rush

Aava
Natural
Mineral
Water

A-

Based on
income:
Low income
class
Middle
income class
Upper middle
class level
Upper class
Based on
Age:
Young aged
Middle aged
Old aged
Based on Sex:
Male
Female
Based on
Lifestyle
Health /Fitness
Conscious,
Outgoing,
Conservative,
Careless,
tourists
Based on
geography:

All income
groups
Young aged
females in the
age group
between 15
and 35 yrs
Diet
Conscious ,
outgoing, social
Upper
middle &
Tier
1 Metro
Upper
Cities class
Young and
Middle Aged
(20-50 yrs)
Both males &
females
Health
conscious,
Socially active
Tier 1 Cities
Upper middle &
Upper class
All age groups
Both males &
females
Health & fitness
conscious
Tier 1 Cities

Positioned as
Caffeine-free,
calorie free and
sugar free
appealing to diet
conscious and
outgoing &
variety loving
young aged
females
Positioned as a
instant energy
source with
essential
carbohydrates
and vitamins for
the fitness
conscious and
socially active
class of people
Positioned on the
health front to
meet the mineral
requirements of
the body for
health conscious
premium lifestyle
and quality
seeking people

Long term relations with

clients
Huge potential due to many
untapped institutional
segments
Competency in bulk
dealings as 50% revenue
comes through this channel
Relatively lower margins
and service orientation
Tough to maintain on-time
delivery and distribution

Retail Sales

Large sustained sales

volume

Positioning

Bulk Sales

Targeting

Greater visibility
Higher Margins
Investment requirement in
building strong distribution
network
Segment already cluttered
with many competitors

Higher margin

Bulk Sales

Flavored
mineral
water
Aava
Sparkle

Segmentati
on

Natural
Natural Mineral
Mineral Water
Water

Product

Retail or Bulk water Decision???

Volume sales in long term

perspective
Being New entrant difficult
to fetch bulk buyers
Lower margin in the
introductory stage may be
difficult to afford
These items preferred in
smaller packages

Retail Sales

Marketing Strategy for diversification

Flavored
Flavored Mineral
Mineral Water
Water and
and
Energy
Energy Drinks
Drinks

Product and Distribution

Strategy

Direct reach to the end-user

Pick on the move
Lesser segment rivalry
Can cater exclusive
segments through specific
retail channels
Investment requirement in
building strong distribution
network

Inference:
As institutional segment has a greater edge over the retail segment for natural
mineral water, company must stick to its current focus on institutional segment for
this product type.
For the launch of two product variants i.e. flavored mineral water and energy drinks,
company must focus on retail segment as it would provide a better platform for
growth than the institutional segment

Pricing and Promotion

Strategy

Marketing and
Promotion
Place of Promotion: Posters and standees

can be put up at
high-foot fall areas of our premium target like Airport
waiting areas, fitness chains, Spas skin clinics ,college
hang-outs etc.
TVC : A social campaign promoting the brand AAVA with
green packaging initiative
Teasers : For product launch ,teasers on News paper in
innovative ways to get high brand-recall
Aava
Natural Mineral
Advertisements
inWater
health, travel, business and beauty
Apart
from the existing clients, use extensive sales force to
magazines
collaborate with fitness centers,
spas and skin clinics,
educational institutions & corporates
Aava A-rush Energy Drink
Free sampling through high profile parties, college canteens,
high end clubs and gymnasiums to influence customer
purchase
Aava
Aava Sparkle
lacks the web presence that many of its competitors
Trial
can be distributed at beauty clinics, kaya skin clinics,
enjoy
hotel
kitty parties
Website
could include more pictures and videos to educate
and influence consumer choice
More informative & interactive social media presence;
facebook, twitter and youtube can be used to promote the
Aava brand on a pan India scale
Personalized mails about the green initiatives of Aava to
prominent opinion leaders of India so that they appreciate
the Aava brand and help spread awareness about our
Promotion Budget
New bottles to includeinitiatives
less plastic, smaller
Allocation
bottle caps, more renewable materials like
Marketin
plant fibers
Promotional
g
The bottles produced will be lighter and
media
expense
will reduce transportation cost and energy
use
TV Advertisement
45%
Greener packaging can send a strong
message about a companys commitment
Website/Social
to sustainability that can enhance its brand
Media
4%
appeal and being the first company in
Advertisement
India to take this initiative Aava will come
Newspapers/Magaz
to limelight and hence, this is an easier
35%
ines
path to get higher awareness for the brand
across the nation
Point of sales
Suggested SKUs for the product lines:
marketing(Sparkle/
8%
Energy Drink: 250ml packs,500 ml
A-rush)

Packaging

Pricing(Can charge premium for water untouched by

human hands)
Aava Mineral Water

Aava A-Rush

Cost of
cup cap
= 0.32
Cost of
label =
0.40

Cost of
cup cap
= 0.25
Cost of
label =
0.40

Cost of
bottle =
1.50
Preform = 1.80

Cost of
bottle =
1.50

Electric and labor =

0.60
Corrugated box =
0.80
Transportation cost =
0.15
Treatment cost =0.10
Selling and marketing
expense = 0.33

Other costs are

similar to Aava
mineral water plus
an additional cost of
adding new
ingredients
Ingredients :
Guarana, Glucose,
Caffeine
Ideally MRP should
be between Rs.75 to
Rs.90

Aava Sparkle

Cost of
cup cap
= 0.28
Cost of
label =
0.50
Cost of
bottle =
Other costs similar2.00
to mineral

water and cost of adding new

ingredients
Flavors : Lime, Strawberry,
Grape, Raspberry, Orange
Nutrition: 29mg of sodium,
sugar substitues( aspartame,
sucralose), minerals
Ingredients : Natural flavors,
citric acid, phosphoric acid,
sacesulfame
Ideally MRP should be
between Rs.20 to Rs.30

Timeline & Gantt Chart

Refer Appendix I for detailed timeline & Gantt Chart

7
Robust marketing Plan- For the new product launches

Week 1

Anticipation
MarketingSuspense
Ads

Week 2-3

Sparkle

AAVA Sparkle & AAVA A-Rush

A-Rush

AAVA Mineral Water

The objective is
market penetration
The target is to
improve bulk sales
with more and more
elite institutional tieups
To develop strong
branding by
promoting green
packaging in
appropriate events
and among opinion
leaders

Anticipatio
n
MarketingSuspense

Pre-Launch
Building
anticipation - suspense
ads on TV, newspapers, radio
Communicate anticipation tagline
Who new IT can be pink?
Promote the qualities of the product
as caffeine free, calorie free& sugar
free

Post-Launch
Tapping customer touch points
like
beauty
clinics,
college
canteens, coffee shops through
posters
Retail points- Place sign boards in
stores where product is available
& where it will be launched soon
Website & social media updates

Pre-Launch
Building anticipation - suspense
ads on TV
Communicate the product as You
need this transformation
Promote the product as a refreshing
drink with the good ness of mineral
water

Post-Launch
Place posters and sign boards at
various outlets of physical
activity centers such as gyms,
dance clubs, etc.
Additionally, tie-ups can be
made with sports centers and
recreational facilities to promote
A-Rush

Week 4-5

Reveal the
product. Also Test
Market the
Product

Week 6

Evaluation of
Consumer response
make required
changes

Week 7-8

IMC
Word of mouth publicity
Promotion through
Pink of health campaign
Trial samples can be
distributed in beauty
clinics, hotel kitty parties,
skin clinics, gyms &spas
IMC
Indirect Word of Mouth
Publicity which is one of
the most effective ways of
promoting A-Rush
Adrenaline Rush campaign
Ads in health magazines
and sports magazines

Launch in the
12 cities.
Aggressive
promotion.

Week 9
Evaluation of
Consumer
response and
Post Launch
Events

8
What Is in it for you??
Retailer
Who are
You?
Why
your
product
?
Short
Shelf
life
Why so
prized?

Retailer
Who are
You?
Why
your
product
?
Short
Shelf
life
Why so
prized?

Our
Representativ
An undisputed energy drinks brand with appropriate
e caffeine
balance of
The goodness of natural minerals in green packaging,
provides a cause worth supporting, hygienic untouched
by human hands
Not too many preservatives that may destroy the
essence of nature.
Because our target likes to keep it premium, meeting
high standards,
that
he
can
associate
with
himself/herself

Our
Representativ
A non-carbonated drink exclusively for women that suits
e
the way they like their drinks to be

Our Proposal

Increased payment period of 20 days with cash discounts

of 2% for early payment ( within 10days)
Take back unsold and outdated stock with guarantee
against defective merchandize
High margins of 25%,depends on type of stores e.g. 15%
for supermarkets,20% for hyper and 25% for salons
Tie-ups with fitness-clinic chains
Focused promotions and use of IMC
Planned consignment method to be adopted for product
launch

Risk

The product is sugar-free, caffeine free and calorie free

and refreshingly fresh

Not too many preservatives that may destroy the

essence of nature.

Because our target likes to keep it beautiful and

sophisticated, that she can associate with the softer side
of her personality

Brand acceptance
Price not affordable in case of
flavored
This is not yet time for the exit of
carbonated drinks
The associated esteem value
needed to be attached to the
product not achieved
TG for energy drinks wants
stronger branding
The taste does not work
The unsweetened formula does
not work or is not able to reach

Selling
Exitthe
product at
lower price
points under
different
brand name
Using the
products as
free
sampling to
crate
visibility for
AAVA and not
promoting
them as

APPENDIX I : TIMELINE (GANTT CHART)

Assumption: start date is chosen as 1st February, 2013

APPENDIX II
Image

Popularity

Affordability

Health

Taste

Perceived as a tasty
substitute for plain
drinking water and as a
healthy substitute for
4
aerated drinks

It is a new sector within

the bottled water industry
and is still at its infancy
stage. So its less known
among the consumers 5

Since the product would

be priced at a slightly
higher price than purified
6
water, the consumer
would be willing to pay a
premium for the taste

It is a much healthier
option than soft drinks
which contains huge
amounts
of carbon dioxide
7

Consumers would prefer

flavored water over plain
water as it a tasty
substitute to plain water

Fruit Juices

Perceived as a substitute
for unhealthy carbonated
drinks. Younger consumers
regards fruit juice as a
convenient way of
7
boasting their
consumption of fruits and
vegetables.

Fruit juices in the

unorganized segment are
considered cheaper and
fresher by the consumer,
7
even though they are
relatively unhygienic.

It is considered to be a
high priced product since
consumers compare the
price of the product to that
of freshly made juices 7
which are much cheaper

Very few customers are

convinced about packaged
juice being preservative
free, and, therefore as
8
healthy as freshly
squeezed juice

The taste is natural and

refreshing since it is 7
derived from fresh fruits

Aerated drinks

Majority of the consumers

consider aerated drinks to7
be unhealthy and too
much consumption may
lead to health issues

Its is generally the first

choice of consumers when
8
it comes to selecting a
drink among non alcoholic
beverages

It is an average priced
product with major brands
catering to the middle and
upper middle class 6
whereas the local brands
cater to the low income
segments

Provide zero nutrients,

carbon dioxide consumed3
may be is considered
harmful.

8
More than 50% of the
consumers buy aerated
drinks just for its taste

Popularity is there in all

the income levels of 3
consumers as it can be
used to make premium 4
cocktails at the same time
as nave as fresh lime

Affordability depends on
the brand which launches6
it and the pricing is
generally done as per the
segment to which it is
perceived to cater

This assures of some

essential mineral content
if positioned such

Flavored drinking
water

Mineral Soda

Considered a ready base

for refreshing drinks
5

Energy
Drinks/Sports Drinks

Natural Mineral
Water

It is considered an exact
balance of energy and
health. It also acts as a
status symbol among
4
youngsters
It is associate mineral
water as being pure and
full of nutrition

This can be launched plain

as well as in flavored
variants

It is popular drink among

youngsters especially
among students and 6
sportspersons

It is a high priced product,

whose premium can only
be paid by the elite class

Young heath conscious

consumers consider
energy drinks as a
substitute to aerated drink6

Since it is more inclined

towards the nutrient and
health content, the taste
comes second to these
5
parameters

Though it is well known

among majority of the
consumer segments, it is
6
more popular among the
elite social class

This product is exclusively

targeted towards the
premium segment mainly 7
institutional consumers

Since the water is directly

obtained from the source,
consumers consider it to6
be nutritious and healthy

As pure water is tasteless,

it contains the taste of the
minerals from which it is 5
obtained

APPENDIX III
Size of Target Segments

Flavored water

Fruit Juices

Ease of Entry

Medium since this product line

is in nascent stage and is a
healthier option to switch from
the present drinks on the shelf.
5
Since they
High since even kids are
targeted and demographics
changing with rising health
consciousness
6

Aerated drinks

Very high since these drinks

have been embedded in the
present lifestyle of the country

Natural Mineral Water

Spring Water

High as not too many players

with good distribution are there
in India
5

Low because new manufacturing

process has to be set up right from
the procurement of fresh fruits to
the lost lasting packaging of the
product
3

High since many MNCs have

already established very good
distribution network and they
are strong when their brand
presence is considered

Medium since these drinks are

costly and associated with
young and middle age category
who slog at this stage of their
careers
4
High since in the corporate
houses, elite educational
institutions and in the elite
social circle procuring these will7
be status symbol

Low since very good launch with

good amount of visibility among
the high profile socialites is needed
to make a space for a brand in this
6
segment

Medium since the source is ample

High as people have got many

different segments to switch on
health and wellness grounds
2

High since there are few players in

the energy drinks sector which
High since though the target
cater to the premium segment
group size is less, big players
have set their stones rolling

Medium as the fruit juices have

been able to convince the
buyers that the nutrient and
fiber content they offer is not
there in other drinks

High since many players have

identified the growing demand
for fruit drinks and growing pie
of potential buyers

Low since the diversifying into

soda, the process has to be
changed and more over
High recall is needed to break
through the clutter

Low since to begin with

bringing consciousness to drink
pure water rich with nutrients 7
cannot be brought among all

Dearth of Substitutes

Low there are not many players

in this segments as it is in its
nascent stage

Low since this is used by limited

end-users for specific purposes
and over and above the mineral
content need for soda is not that
essential
5

Energy Drinks/Sports Drinks

High since there are hardly any

players in the market and there is
huge potential in the market for
8
the product

Very low because the market is

attaining saturation level and the
segment is already saturated with
players who are well established
7

Mineral Soda

Internal Rivalry

High since many brands both in

bottled mineral water, and liquor
segment(subliminal
advertisement) have launched
soda
4

High since the industry is very

luring due to the high growth
rate it shows
5
Low since though some players
are there but still there is scope
for new ones to launch
themselves strong and turn the 6
tables

Low as the soda needs cannot

be substituted easily when they
are meant specifically as base
for many drinks
5

High in lower price segments as

the present big players are not
that affordable ranges
6

Low as water finds easy

substitutes in face of the
present range in the thirst
quenching segment

Low since spring water is not

considered a necessity when the
awareness about the benefits of
5
spring water is not spread on a
huge scale

APPENDIX IV

APPENDIX IV : PRINT ADS FOR THE THREE PRODUCT LINES

APPENDIX V

Anticipation ad: AAVA

A - Rush

Anticipation ad: AAVA

Sparkle

APPENDIX VI
Feedback from Mr Shiroy of Aava Waters
Is Aava willing to go
Would Aava change its
for sub-branding or
In the case it is mentioned manufacturing process
would you prefer to
that there is
like the material used
launch a new product underutilization of
for bottle packaging in
Sales
Thirst
Bran
line under the brand resources. Is there any
order to promote itself Packagin Promotio
Health Satisfact Nutrient
Social
Trust
Availabil d
Innovati
name of Aava?
specific reason for this?
as being eco friendly? g
n
Taste Quotient ion
Content Price Esteem Building ity
recall Variety on
No contract packing
or sub branding is of
any interest to the
Since cost is a very big
Under utilization of
promoters . Another
resources is due to lack of factor in our market ,
new product line
labour and very expensive to substitute a costlier
under the brand name
material for PET is
labour due to economic
Aava makes sense
growth of gujarat in recent completely out of the
because more
years , it is very difficult to question. however we
products in the
get labour which stays for are open to reducing
portfolio would do
the Grammage of
a time period.
wonders for the brand
plastic used in the
and attract
bottles to promote as
distributors
ecofriendly
7
10
10
9
10
7
10
6
7
4
9
4
7

References

APPENDIX V : FEEDBACK AND REFERENCES

Survey Responses
(Institutional)

http://
www.business-standard.com/india/news/fruit-flavoured-waterbisleri-to-hit-markets-soon/
91595/on
Microsoft Excel
http://www.aavawater.com/Image/broch.pdf
Worksheet
http://news.webindia123.com/news/articles/India/20110325/1715869.html
http://www.tradersinn.co.in/about_aava.html
Survey Responses
http://dnasyndication.com/dna/article/DNAHM41885
(Individual)
http://
articles.economictimes.indiatimes.com/2009-11-10/news/27648747_1_behram-mehta-sheel
pe-enterprises-stake-sale-deal
Microsoft Excel
www.datamonitor.com
97-2003 Worksheet
http://www.ikonmarket.com/natural_mineral_water_market_india.html
http://www.gits4u.com/water/water16.htm