Ready To Eat (RTE) Market In india from a consumer Behaviour Prospective
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Transcript of Ready To Eat (RTE) Market In india from a consumer Behaviour Prospective
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Can Ready- to-eat mixes be marketed differently?
Allen Sanders
Prathyusha Raviprolu
Rohit Rakshit
Ridhima Arora
Sarvagya Nayak
Pankaj
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Industry Overview• Ready to Eat (RTE) food was introduced in
India originally in 1987, but the concept failed initially
• However, recently it started gaining popularity among the Indian consumers due to various factors such as increasing income levels and hectic lifestyle among others
• In comparison to domestic market, demand for Indian RTE food products is more in the global market and players earn a significant share of their revenue via exports
• During 2013, Indian ready to eat market was valued at around INR 225 Cr.
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Industry Overview
Drivers
• Growing Income and Consumption• Rapid Urbanization• Increasing Working Women
Population• Convenience Factor• Growing Retail Market• Marketing Campaigns
Challenges
• Poor Supply Chain and Distribution Facility
• Consumer Behavior and Perception• Rise in Packaging Costs• Health Concerns
Major Players
• MTR• Gits• ITC• Bambino• Kohinoor Foods
65%
35%
MTR Market Share
MTR Others
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Market
• Indian ready to eat market was valued at INR 225 Cr. In 2013
• Expected to grow at 25-30% over the period of next five years
• According to Tata Strategic Management Group, the RTE market is expected to grow to INR 2900 crore by 2015.
Trends
• Exhibitions and Events• High Focus on Export• Adaptation of New Technologies• Innovative Promotional
Techniques• Gaining Special Attention in Retail
Format Stores• Retailers Going for Private Label
RTE Meals• Launching Innovative and Region
Specific Products• Frozen RTE Products Gaining
Popularity
2006 2013 20150
500
1000
1500
2000
2500
3000
3500
128 225
2900
TSMG RTE Growth Forecast
(Figures in Crores)
Industry Overview
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• Quality of food- Video • Just like mother’s cooking- Video• Convenience- Video• Engagement- Culture- Video• Convenience• Quick fix for hunger
Current Scenario-trends
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Limitations of current advertising
• Removing the skepticism surrounding the freshness of RTE foods.
• Providing correct and detailed nutritional information to consumers
• High fat and cholesterol content in RTE mixes
• Mostly vegetarian meals available
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Target Groups• Bachelor• Working Women• Children
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Category of ready to eat mixes
Breakfast mixes- Oats upma from MTR, oats idli, multigrain dosa etc
Main- course mixes- Dal makhani, paneer butter masala, vegetable pulao, sambhar rice
Sweet mixes- kulfi kesar badam, gulab jamun, etc
Snack mixes- includes khaman dhokla, muruku etc
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How to target different class of customers?
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Current positioning of ready to eat mixes
• Convenience of consumption• Rapid preparation• Taste• Handy packing• Long shelf life
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Reasons for low buying behaviour
• Health concerns• Continous comparison with restauraunts• Limited number of modern retail outlets• Price
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Required positioning
• Bringing in cheap but nutritional materials like vegetable pieces, coarse cereals.
• Packing should represent the nutritional attributes and scientifically driven health benefits.
• Micro wave versus cooker• Positioned for males of the family- success of
act -2 popcorn.
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Recommendations
•Limited to mostly Indian recipes
•Lack of Non-Vegetarian options in the product range
Expand the product range
•Current product is targeted towards the Indian house wife
•Working population is at large ignored
Target working population
•Customers have a negative perception about how healthy these products are.
•Focusing on these aspects would appeal to the analytic personality type
Focus on the health aspect
Prices- Compared to restaurants
•The price of the product is a huge concern for the customer.
•Shift the comparison from ready to eat and home cooked meals to read to eat and restaurant food, in particular the home delivery segment.
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Thank you!!!
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• Videos which we can show-• http://www.youtube.com/watch?v=1m1uiSkPzK0
(variety)• http://www.youtube.com/watch?v=nsL5kOr0FVA• (talks abt mtr brand image change)• http://www.youtube.com/watch?v=AiZmzMdQfiQ-
(adventure)• http://www.youtube.com/watch?v=Rw-LHDov2lA-
variety