New Product Launch
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- 1. Institute of Management Studies Ghaziabad Prepared By : Aman Maheshwari Mayur Agarwal Darpan Agarwal Vanshaj Tayal
- 2. FP AGRO PVT LTD introduces its new product.. A project report prepared by marketing department
- 3. Agenda Industry Analysis Why this product? About the company Mission & Vision Target Market Competitive Analysis SWOT Analysis Marketing Mix
- 4. Beverage Market in India Alchoholic Drinks Beer Spirits Wine Soft Drinks Bottled Water Carbonated Drinks Juices Energy Drinks
- 5. INDUSTRIAL ANALYSIS Branded fruit beverage market in India is estimated to be worth Rs. 1200 crore (nectars, drinks and juices combined) Juices- over 85% pulp content Nectars-20% to 85% pulp content Fruit Drink-Less than 20% pulp content Segment Market Share Juices 30% Nectars 10% Fruit Drink 60%
- 6. INDUSTRIAL ANALYSIS The Fruit Drink market has grown at a 20% to 25% rate. Of this, more expensive juices segment has grown at rate of 40% this year. It accounted for only 15% of the fruit beverage 3 years back. Inhome consumption of juices has gone up from 30%, three years back to 80% today. Mango based drinks account for two thirds of fruit drinks industry. More than 80 % of sales happen through the unorganized route - juice centres, street corner shops and so on.
- 7. About FP AGRO PVT LTD FP Agro will produce fruit juice & fruit drinks. FP Agro is going to make unique position in terms of corporate presence with its advanced technology and the instrumentation required to manufacture a Juice that has many different flavours, for utmost customer satisfaction. FP Agro will be an environment-friendly company dedicated on sustainable development and corporate social responsibility, as a service to society and preservation of nature. FP Agro headquarter will be situated in Mumbai and it would be having Satellite branches in major Metros.
- 8. MISSION To be a leading producer of fruit juices based on dedication to nature, corporate and process hygiene, dynamic leadership and commitment to our partners and stakeholders.
- 9. VISION To be Indias Premier Fruit Juice Company, offering nutritious & superior quality tasting drinks to its consumers. By 2016 we aim to achieve 30% of Market Share, and while doing it we would be the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth.
- 10. Why this Product? India currently produces about 50 million tonnes of fruits, which is about 9% of the worlds production of fruits. Though India has a strong raw material base, it has been unable to tap the potential for processing and value addition in perishables like fruits and vegetables. Only about 2 percent of the fruits and vegetables in India are processed, which is much lower when compared to countries like USA (65 %), Philippines (78%) and China (23)%.
- 11. Why this Product? Factors Driving Demand for Our Product 1) Changing age profile- A relatively larger share of young population which has the ability to spend on processed foods. 2) Increase in income- The middle and upper middle income groups growing at a faster rate than in developed countries resulting in higher spending on food. 3) Social changes- Increasing number of working women. 4) Life style factors- Increasing health consciousness and need for convenience fruit drink. 5) Availability of Organized Retail outlets- These provide the much needed forward linkages.
- 12. TARGET MARKET Primary Market Kids Fond of Fruit Juice (fond of mango strawberry) Teens More experimental Youth Experimental and more buying power Working People Housewives Elderly people Secondary Market Travel Industry Airlines, Railways and Local Transport Systems Recreational Movie Theatres, Malls, Amusement Parks. School, Colleges Hotels, Restaurants, Bars etc.
- 13. Market Segmentation Market segmentation is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs. Variables Used for Segmentation o Geographic Variables o Demographic Variables o Psychographic Variables o Behavioral Variables
- 14. Market Segmentation Analysis Geographic Demographic Psychographic Behavioral Climate: Tropical Age-all age group Personality-NO Benefit sought Gender-both male and female Product usage rate Density of area: urban, semi urban rural Family size- doesnt matter Education-doesnt matter Lifestyle-YES Brand Loyalty Income-middle and high income customer Profitability Metropolitan cities, major cities/ towns of the states. Occupation- student, working and retired people Value-YES Income Status Attitude-YES
- 15. Major Competitor Analysis Dabur's flagship brand Real fruit juice is a market leader in the packaged fruit juice category. Real with a market share of 57 % offers to its consumers the largest range of 9 juices that comprise orange, mango, pineapple, mixed fruit, grape, guava, tomato, litchi and cranberry. Real Active orange carrot juice, India's first packaged fruit + vegetable juice. Spread over 11 acres and geared to process 150 tonnes of fruit per day, it has the capacity to produce 192 tonnes of pulp/concentrate
- 16. Major Competitor Analysis Tropicana is a product of vast PEPSI family and has a market share of 25% The company sources orange juice concentrates from Brazil. They come in Tetrapaks of one litre and PET bottles of 500 ml and one litre. Pepsi also markets Gatorade an energy drink for the sports personnel which is a sugar-free Diet Pepsi. Pepsi also markets Gatorade an energy drink for the sports personnel which is a sugar-free Diet Pepsi.
- 17. Strengths & Weakness of Competitors Name Strengths Weakness CavinKare Pvt Ltd Acquired Maa Fruits Pvt Ltd Entering a new segment Coca Cola India Global leader in beverages Growing Fast New Entry PepsiCo Global Brand in beverage Less Product Line Parle Agro Market share Less Product Line Dabur Market Leader Less cost effective Godrej Beverages Innovation New Entry Ladakh Foods Nutrients Taste Mother Dairy Cost Effective New Entry
- 18. SWOT ANALYSIS 1. Strength Adequate availability of raw materials Price, a competitive advantage Natural Product 2. Weakness Seasonal availability of fruits Dependence on monsoon Late entry into the market 3. Opportunity Participation with growing industry Competitive advantage over carbonated soft drinks Possible deal with Mumbai cricket Association (MCA) 4. Threats Cut throat competition Unstable government policies Rising global warming
- 19. POSITIONING This is Indias first leading fruit juice company which would be providing ZE i.e. zero calorie juices to its consumers. Fruit Punch ensures a desired quality fruit juices with herbal nutrients in it which is helpful as a cure for various diseases. There are certain fruits whose pulp is enriched with certain nutrients and vitamins. Some Juices are prepared by taking extracts of its pulp, which no other fruit juice company does. For eg- Apples pulp, guavas pulp etc
- 20. MARKETING MIX
- 21. PRODUCT Fruit Punch is a 100 percent fruit juice which will be produced and marketed by the FP Agro Industries Ltd. BRAND NAME: FRUIT PUNCH
- 22. OUR PRODUCT VARIANTS 1. Orange Byte- ZE 3. Crispy Apple 2. Mango Mania
- 23. PRODUCT LIFE CYCLE Our product lie in Introduction Period of PL Low sales High costs per customer Negative Profits Innovative customer Few competitors Objective: To create awareness of product Offer a basic product Price at cost plus Selective distribution Awareness- dealers and early adopters Induce trial via heavy sales promotion
- 24. PRICE As a new comer, our pricing strategy is to introduce our products in the market at lower prices so as to create huge demand in the market and then compete with other competitors. As we come up in the demand, we will increase our prices and will provide more efficient and affordable juices
- 25. PRICING STRATEGY PENETRATION PRICING Our product will be lie on penetration strategy with high quality & low price. For introducing new product. Price low to capture market share. Expect to make profit in volume.
- 26. PLACE Kullu (Himachal Pradesh) Hazira and Dahej (Gujarat)
- 27. PLACE In the initial phase we would be outsourcing fruit processing and packaging of Fruit Juices under FP brand. Fruits such as Orange, Apple, Pineapple etc would be purchased from Kullu. Fruit Processing & Packaging would be outsourced to local producer. Mango would be purchased from Hazira and Dahej. Fruit Processing & Packaging would be outsourced to local producer. Mode of Transport: Road Transport
- 28. PROMOTION As we are in the Introduction phase, our objective is to create brand awareness through Informative Advertising. Use of Print Media, Radio Advertisement, Hoardings in Public Spots, Sample Distribution, Organizing Events, TV Commercial etc. Tie Up with major Cinema halls to promote our products during Intervals. In-film advertising, in its most effective form, is about a brand being a part of the cinema's content.
- 29. WEB MARKETING Social Networking: In order to reach out to the target audience and ensure that they feel more connected with the brand it is necessary to start making conversation. Facebook Creating a community on facebook Creating a Fan page on facebook This will enable the brand to keep its target audience engaged and updated on the introduction of new flavors and events
- 30. Thank YOU