Comparative Research on Market Size of Cigarette Brand of ITC Ltd

8/11/2019 Comparative Research on Market Size of Cigarette Brand of ITC Ltd

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Comparative Research on Market Size of Cigarette Brand of ITC Ltd.

REASEARCH REPORT ON

Comparative Research on Market Size of

Cigarette Brand of TC !td"#

Master of B$siness Administration

%&&'())

SUBMITTED T! SUBMITTED B"!*"B"T"+" *opa, -ias.a,

!$ckno. Ro,, no" &'%/01&&&2

MBA 34thSem"5

NSTT+TE O6 TECHNO!O*7 AN8 MANA*EMENT

PANCH!9 MEER+T


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AC:NO;!E8*EMENT

Before# I get into thick of things# I $o%&d &ike to add a fe$ heartfe&t $ords for a&&

those peop&e $ho $ere part of this report in n%mero%s $a's# and gave their %nending

s%pport thro%gho%t. I $ish to e(press m' thanks and gratit%de to a&& those $ho have

provided the va&%a)&e s%pport# insight and enco%ragement d%ring m' research at ITC Ltd.

In the process of comp&eting this pro*ect Comparative research on Cigarette )rands. I

have received cooperation from man' +%arters.

I e(press m' sincere gratit%de and inde)tness to Mr" :rishna A.tar Pande


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I a&so fee& gratef%& and e&ated in e(pressing m' inde)tedness to a&& those $ho have

direct&' or indirect&' he&ped me in accomp&ishing this research $ork.

I $ish to e(press gratef%& fee&ings and thanks to ITC Ltd for giving me s%ch a great

opport%nit' to comp&ete m' research.

*opa, -ais.a,


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STUDENT DECLARATION

I# *OPA! -AS;A! %nder signed here)' dec&are that the pro*ect report on

=Comparative Research on Market Size of Cigarette Brand of ITC Ltd#.comp&ied and

s%)mitted %nder the g%idance of Mr" 8eepak *$pta 9 6ac$,t< of Management9 TM9

Meer$t is m' origina& $ork. The empirica& finding in this reports are )ased on the

ann%a& reports of the compan'. 1hi&e preparing this report# I have not copied materia&

from an' report.

*OPA! -AS;A!

Ro,, No" > &'%/01&&&2

M"B"A" Sem"


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PRE6ACE

The changing marketing scenario emerging )' virt%e of &i)era&ization in &ast one

decade has introd%ced a vast variet' of ne$ concepts. Behaviora& ana&'sis gives m%ch

information at a sing&e time.

In the changed )%siness scenario# $here organizations are re+%ired to compete

g&o)a&&'# )enchmarks have a&so )ecome g&o)a organization s%rviva& and e(ce&&ence

re+%ires not on&' meeting the targets# )%t a&so setting %p of g&o)a& standards. In the

present scenario# to achieve $or&d2c&ass e(ce&&ence or even s%rpass them depends %pon

the efficienc'2marketing scenario of the compan'# $hich is the most important for an'

organization.

The +%est of prod%ctivit'# +%a&it' and speed has spa$ned a remarka)&e n%m)er of

management too&s and techni+%es. Tota& +%a&it' management# )ench marking# and Time

)ased competition. %t servicing partnering# reengineer# change management of fee&ing

the gap )et$een the originations and the cons%mer# on the )ases of market research are

cond%cted )' the )ig organizations.

3o$ it is a $or&d of 4.or,d of c$t throat competition5. The concept of

marketing has )een changed comp&ete&'6 c%stomer has )ecome a$are in the ever' fie&d in

the c%rrent time# toda'0s market is c%stomer oriented. The prime motive of the compan'

sho%&d )e c%stomer de&ight and hence to s%rvive and achieve organizationa& goa&s.

Cigarette is one of the to)acco prod%cts. 7Cigarette0 itse&f has a niche in the

market. To)acco prod%cts are e(cisa)&e item# $hich is contro&&ed )' the 8overnment. The

8overnment earns m%ch mone' from to)acco prod%ct d%e to m%ch e(cise d%t' on

to)acco prod%ct. The to)acco companies $ork %nder the r%&e and reg%&ations of the

8overnment. It is ver' necessar' and comp%&sor' for man%fact%rers of to)acco to take

&icense from the 8overnment.


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This research report has )een divided in to vario%s parts. 9irst part gives an

introd%ction a)o%t the pro*ect. Second part contains profi&e of the compan' and its financia&

overvie$. Third part is o)*ective and scope of st%d'. 9o%rth part is a&& a)o%t research

methodo&og'. 9ina&&' data interpretation and ana&'sis of data# on the )asis of ana&'sis some

recommendations and conc&%sions are given.

In the end I $o%&d &ike the eva&%ators and readers to do a comprehensive st%d' of m'

pro*ect and e(press their vie$s and recommend va&%a)&e s%ggestions that $o%&d great&'

enhance o%r kno$&edge of the s%)*ect.


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)) RECOMMEN8ATONS

)% BB!O*RAPHES

) +ESTONNARES


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E?EC+T@E S+MMAR7


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OB-ECT@E O6 THE RESEARCH


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The research cond$cted th$s emphasized in f$,fi,,ing fo,,o.ing

oDectivesF

6ROM THE OR*ANGATON PONT O6 @E;

rganization $o%&d )e coming to kno$ a)o%t the dea&ers attit%de and their

Comp&aints )' this the' can take corrective meas%res to rectif' the comp&aints.

rganization can a&so find its market share

M7 PONT O6 @E;SF(

I $hi&e %ndergoing m' training got fami&iar $ith the organization 4TC !td"#

Cigarettes5 and came to kno$ a)o%t the $orking of the organization as $e&& as the

services# po&icies etc. of the organization.


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NTRO8+CTON


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NTRO8+CTON

Marketing Research is a vehic&e thro%gh $e can o)tain information a)o%t present

and potentia& c%stomer0s )ehavior# their reaction and prospective a)o%t marketing.

Learning more a)o%t the cons%mer and marketing is the heart of marketing research. The

o)*ective of this st%d' is to kno$ a)o%t the cons%mer0s perception preference to$ards

cigarette of ITC Ltd.

7Cigarette0 itse&f has a niche in the market The To)acco ind%str' is deve&oping

$ith speed of app. ;@. The ITC en*o's a good position in the Cigarette Market )'

&a%nching 2 Checkers, Hi-Val, Royal Classic and Gold Crest - in the e(treme&'

competitive US market. The coming %p of M%&tinationa& in the fie&d has made it to%gh

for the compan' to capt%re the same market share as it $as en*o'ing fe$ decades ago.

Since thirt' 'ears p%t no$ seeing the c%rrent re+%irements the compan' decided to

change its o&d pattern and p&anned to $a&k $ith the Traits. This st%d' contains the a)o%t

the reaction of cons%mers to$ards the Cigarette. The target cons%mers are there fig%red

and the area for research is a&so so%nd and thro%gh it.

To)acco cons%mption is gro$ing at a rate of


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of ITC cigarette are fo%nd to )e satisfied $ith the prod%ct. 1e find that the cigarette

)rand of ITC &imited has a ver' good position in the market among the c%stomers.

Ma*orit' of cons%mers go for the taste of cigarette and )rand name. 1hi&e some of the

cons%mers of cigarette emphasize on the price.

ITC is en*o'ing the market &eadership in the ind%str' not )eca%se of its prod%cts

)%t another reason is that it is the first entrant in the Indian cigarette market. Most of the

cigarette )rands of ITC are doing $e&& $hi&e a fe$ are not in a good position. ITC sho%&d

offer some offers and disco%nts to the c%stomers and retai&ers.


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THE TOBACCO INDUSTRY IN INDIA

? p&a'ers 2 ITC# 8odfre' :hi&&ips# GST and 8TC# dominate the cigarette ind%str'

in India. These fo%r companies together contro& a&most HH of the market. The cigarette

ind%str' faces competition main&' from the %norganized sector BIDI man%fact%rers# $ho

are protected from high d%ties d%e to sma&&2sca&e ind%str' stat%s. ffected )' steep d%t'

hikes# the ind%str' has )een facing stagnant vo&%me gro$th in the &ast


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ther states $hich man%fact%re to)accos are Maharashtra# rissa# Tami& 3ad%# 1est

Benga U: and Bihar.

To)acco is cons%med in t$o $a's# either )' smoking or che$ing. 1hi&e smoking

the fo&&o$ing to)acco prod%cts are cons%med! Cigarette# Cigar# Bidi -,and ro&&ed &eaf

$rapped co%ntr' cigarettes/ and to che$ the prod%cts are! Ra$ to)acco# S%pari -reca

n%t/# 8%tkha# :an :arag etc.. D%e to diverse c&imatic conditions ever' t'pe of to)acco is

gro$n in India. &most H of area is acco%nted for )' 3icotine to)acem. and ; )'

3icotina Restica. n&' one third of the to)acco o%tp%t in the co%ntr' is 9&%e c%red

Girginia -9CG/ variet'# s%ita)&e for cigarette man%fact%ring. s per 1or&d ,ea&th

rganization -1,/# reported the preva&ence to)acco ha)its in India to )e# Bidis -=?/#Cigarettes -=;/# Che$ing to)acco -;H/# ,ookah -H/# Cigars2cheroots -@/# and

Sn%ff-


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India is a ma*or gro$er and e(porter of to)acco in the $or&d. :resent&' India is

among top three prod%cers of to)acco in the $or&d. Despite &o$er proportion of tota&

prod%ce )eing e(ported Indian e(ports it fig%re among top ; e(porters of the prod%ct in

the $or&d. In addition to )eing the &argest contri)%tor to government coffers# the ind%str'

a&so provides emp&o'ment to more than


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;oes of the toDacco ind$str


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and a second time offender $i&& res%&t in a fine of r%pees ;## and imprisonment for

%p to three 'ears. De&hi $as the first to impose a )an on smoking in p%)&ic. In ;HHA#

De&hi :rohi)ition of Smoking and 3on2 Smokers ,ea&th :rotection ct $as passed. This

act prohi)ited sa&e of cigarettes ; meters from the schoo& )%i&ding and to minors. The

offender $as fined a s%m of r%pees ;. B%t it $as diffic%&t to enforce this act and had

&itt&e rea& impact# the ke' pro)&em )eing &ack of manpo$er to enforce the &a$. In ;HHH#

Kera&a ,igh Co%rt came o%t $ith a *%dgment prohi)iting smoking in p%)&ic p&aces#

inc&%ding parks and high$a's and 8oa )anned smoking in p%)&ic p&aces thro%gh anti2

to)acco &egis&ation. 9or the past three 'ears# Tami& 3ad% and ndhra :radesh have

)anned the marketing and sa&es of g%tkha.In s%ch a scenario of rising ta(es and decreasing cons%mption# an' f%rther

imposition of &evies or ta(es on the cigarette ind%str' seems %n*%stified. So I think that

the government sho%&d give a g&ance to these aspects and sho%&d tr' to see the sit%ation

from cigarette ind%str's point of vie$ )efore fina&izing an' proposa&.

Ann$a, Per Capita Ad$,t Cigarette Cons$mption

So$rceF ToDacco nstit$te of ndia


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PRESENT SCENARO

Cigarette man%fact%rers are p&anning to raise the rates )eca%se of the high ta(es

and recent&' GT in man' states and the price of a fe$ cigarette )rands have )een raised

a&read'. pack of the premi%m )rand C&assic $as re2priced at Rs JJ from Rs J ear&ier

$hi&e a pack of the mid2market 8o&d 9&ake )rand $as no$ priced at Rs ? against Rs =J

ear&ier. The econom' )rand Si&k C%t had a&so )een revised %p$ards margina&&' from Rs


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To)acco cons%mption is gro$ing at a rate of


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COMPAN7 PRO6!E


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TC !td" An Overvie.

THE COMPAN7 PRO6!E

ITC is one of Indias foremost private sector companies $ith a market

capita&isation of near&' US ;J )i&&ion and a t%rnover of over US @.; Bi&&ion. ITC is

rated among the 1or&ds Best Big Companies# sias 9a) @ and the 1or&ds Most

Rep%ta)&e Companies )' 9or)es magazine# among Indias Most Respected Companies )'

B%siness 1or&d and among Indias Most Ga&%a)&e Companies )' B%siness Toda'. ITC

a&so ranks among Indias top ; NMost Ga&%a)&e -Compan'/ Brands# in a st%d' cond%cted

)' Brand 9inance and p%)&ished )' the Economic Times. ITC has a diversified presence

in Cigarettes# ,ote&s# :aper)oards Specia&t' :apers# :ackaging# gri2B%siness#

Branded ppare :ackaged 9oods Confectioner'# 8reeting Cards and other 9MC8

prod%cts. 1hi&e ITC is an o%tstanding market &eader in its traditiona& )%sinesses of

Cigarettes# ,ote&s# :aper)oards# :ackaging and gri2E(ports# it is rapid&' gaining market

share even in its nascent )%sinesses of :ackaged 9oods Confectioner'# Branded

ppare :ersona& Care and Stationer'.The TC !td

T


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ITC emp&o's over


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:e< points

Strong vo&%me gro$th in the core cigarette )%siness in F;9"


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Increase in other e(pendit%re main&' coming from increased advertisement spends

)efore the Cigarettes and ther To)acco :rod%cts -:rohi)ition of dvertisement and

Reg%&ation of Trade and Commerce# :rod%ction# S%pp&' and Distri)%tion/ ct#


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Prod$cts of TC !td"

Histor< of TC !td

ITC $as incorporated on %g%st


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range of )%sinesses 2 Cigarettes To)acco# ,ote&s# Information Techno&og'# :ackaging#

:aper)oards Specia&t' :apers# gri2E(ports# 9oods# Lifest'&e Retai&ing and 8reeting

8ifting Stationer' 2 the f%&& stops in the Compan's name $ere removed effective

Septem)er ;J#


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!ifest


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The Core Competenc

This +%estion $as asked to find o%t the percentage of ITC cigarette cons%mers.

The responses from the vario%s respondents are given in the fo&&o$ing ta)&e!

Brands No" of Respondents

ITC @

GTC @

8ST ?

8odfre' :hi&&ips

Don0t kno$ @

Tota, 1)

%t of ; cigarette cons%mers prefer cigarette of ITC $hi&e # A # ;

&ike the cigarette of GTC# 8ST and 8odfre' :hi&&ips respective&'.


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F@. 1hich prod%ct of ITC 'o% &ike most>

This +%estion $as asked to find o%t the most pop%&ar prod%ct of ITC Ltd. 9o%r

different options $ere given# 8o&d 9&ake# 1i&&s# C&assic and India Kings. The responses

of the respondents are given in the fo&&o$ing ta)&e.

Brand No" of Respondents

8o&d 9&ake ;H

1i&&s ;@

C&assic

India Kings A

n' ther =

The graphica& representation of the a)ove ta)&e $i&& give a c&earer vie$ a)o%t the

4Brand :reference5 among ITC Cigarette cons%mers.

9rom the a)ove pie chart it is c&ear that 8o&d 9&ake and 1i&&s are the most pop%&ar

)rand of ITC Ltd. $ith a cons%mer )ase of AJ of the ITC cigarette cons%mers.;? of

the respondents prefers C&assic and ;


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Bet$een ; to @ it $i&& )e considered as :oor.

Bet$een @ to


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A.areness aDo$t the Prod$ctF 0 The score of this statement fa&&s )et$een


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9rom the a)ove co&%mn chart it is c&ear that o%t of @ respondents =< -A?/ rated

the +%a&it' of ITC Cigarettes as either 4ver' good or good5. minorit' of respondents A

-;


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9rom the a)ove co&%mn chart it is c&ear that o%t of @ respondents = -?/ rated

the packaging of ITC Cigarettes as either 4ver' good or good5. minorit' of respondents

? -J/ is of the vie$ that packaging of ITC cigarettes is 4)e&o$ average or of poor.5 Rest

of H -;J/ respondents think the packaging of ITC Cigarette as 4average5

9rom the a)ove co&%mn chart it is c&ear that o%t of @ respondents =< -A?/

thinks that ITC has presented s%fficient varieties of the cigarette and the' rated the

variet' dimension of ITC Cigarettes as either 4ver' good or good5. minorit' of

respondents ;? -


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;;-


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J-;A/ of the respondents said avai&a)i&it' of ITC cigarettes is ver' good#


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9rom the a)ove co&%mn chart it is c&ear that o%t of @ respondents


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9rom the a)ove co&%mn chart it is c&ear that o%t of @ respondents =< -A?/

thinks that the taste of ITC cigarette is either 4ver' good or good5. minorit' of

respondents H -;J/ is of the vie$ that taste of ITC cigarette is 4)e&o$ average or of

poor.5 Rest of respondents rated the variet' of ITC Cigarettes as 4average5

The ne(t fact to ana&'ze is 41hether the cons%mers are satisfied $ith ITC

Cigarettes or not.5

1e can c&ear a)ove +%estion $ith the he&p of Chi S+%are. 9or the Chi S+%are $e

can take n%&& h'pothesis# as cons%mers are not satisfied $ith the ITC :rod%cts.

6eat$res No" of Respondents

Satisfied 8issatisfied Tota,

F%a&it' =< ;J @

:ackaging = ;= @

Gario%s Garieties of prod%ct =< ;J @

:rice


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6or dissatisfied cons$mers

E -;J/@V;?


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% Q -2E/

In response to the a)ove +%estion the fo&&o$ing n%m)ers $ere fo%nd o%t of @

respondents are! 2

Response No of respondents"es ?=

3o @

Indifferent If 'es# then p&ease

S%ggestions from the cons%mers are inc&%ded in the recommendation section of the

report.


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6N8N*S


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6N8N*S

9rom the ana&'sis and interpretation of data $e can find the fo&&o$ing facts from the

a&&ocated are for the st%d'! 2

n&' == of the tota& respondents smoke in the a&&ocated area of the st%d'.

?= of the smokers cons%me cigarette and ?; cons%me Bidi# $e can sa' that

the Bidi prod%cers are the main competitors for the cigarette prod%cers in the

Indian cigarette market.

ma*orit' of the cigarette cons%mers agreed to the fact that most determent

factor that affects them $hi&e )%'ing cigarette is taste -A


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n the )asis of Chi S+%are $e can sa' that the cons%mers of ITC prod%ct are

satisfied.

JA of the ITC cigarette cons%mers are satisfied $ith the prod%ct $hen ;

fo%nd to )e %nsatisfied and ? are indifferent.

;? said that the retai&er forces them to p%rchase another )rand in the a)sence of

demanded )rand.


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RECOMMEN8ATONS


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RECOMMEN8ATONS

The fo&&o$ing are Recommendations for the compan' to improve itse&f $hich the st%d'

has )een sho$n!2

ITC sho%&d foc%s on the sa&es promotion as competitors are offering &o$er prices

for the simi&ar t'pe of the prod%cts.

ITC sho%&d revise the pricing of the cigarettes.

The )ehaviora& ana&'sis of the retai&ers and c%stomers sho$s that most of the

c%stomers give the preference to the price of a prod%ct# then performance of the

prod%cts at most of the times. There are ver' &ess peop&e $ho prefer )oth the

options. So it sho%&d )e more and more price oriented.

1e can see that the most important factor# $hich is considered )' the retai&ers to

keep the prod%cts of a compan'# is profit margin. fter that it is fo&&o$ed )'

)randcompan'# price of prod%ct# vario%s schemes and performance respective&'.

Retai&ers prefer that prod%ct# $hich gives more profit margins so it sho%&d

increase profit margin for retai&ers.

ITC sho%&d foc%s on s%rrogate advertising as a$areness of ITC0s cigarettes is &ess

among the c%stomers# as direct advertising of to)acco prod%cts is )anned as per

Indian government r%&es.

Incentive schemes for Retai&ers sho%&d )e started )' ITC Ltd to increase the sa&e#

if the' &oose the confidence of the Retai&ers# the compan' can &oose the market

share.

The compan' Representative sho%&d reg%&ar&' visit to the Retai&ers to so&ve their

pro)&ems# and to te&& them a)o%t ne$ prod%cts and schemes. This $o%&d he&p

them to kno$ a)o%t the cons%mer )ehavio%r# their taste and preferences.


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Schemes provided )' the compan' are a&so an important factor for the retai&ers.

Schemes distri)%tion of the Redistri)%tion Stockiest is not so m%ch accepted )'

the retai&ers# so it sho%&d provide proper scheme distri)%tion to keep them happ'.

The compan' sho%&d a&so offer some 8ifts and scratch co%pon schemes for the

cons%mers.


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CONC!+SON


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CONC!+SON

The st%d' that has %ndertaken conc&%des that the prod%ct of ITC is de&ightf%&

prod%ct for the cons%mers. Th%s from the ana&'sis and interpretation of data $e can

conc&%de the fo&&o$ing things. The sa&e of ITC is good )%t $e sho%&d sa' it satisfactor'#

as it is the first entrant in the Indian market.

Conc,$sion is as fo,,o.sF (

The a$areness of ITC0s cigarettes is &ess to the cons%mer d%e to advertisement

)anned.

Taste of Cigarette is the factor that attracts the cons%mers most $hi&e the' go for

smoking.

E(tensive distri)%tion net$ork

o ver H $ho&esa&e dea&ers serving more than ; mi&&ion retai& o%t&ets

Cons%mers prefer fi&tered cigarette to the non2fi&tered.

8o&d 9&ake 1i&&s are more preferred )' the cons%mers.

3o attractive scheme is offered )' the ITC to the retai&ers and cons%mers.


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!MTATONS


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!MTATONS

In spite of making a&& m' efforts to make the dissertation a perfect one there are

certain &imitations in the st%d'# $hich are fe&t $hi&e cond%cting the s%rve'. s the st%d'

is an e(p&orator' one designed to find ne$ h'pothesis# readers are not s%ggested to

conc&%de the res%&t. The st%d' s%ffers from the )asic &imitations of the possi)i&ities of

difference )et$een $hat is recorded and $hat is tr%e.

In addition# some &imitation regarding of the st%d' are mentioned.

The samp&e size is ver' &ess and therefore the test that co%&d )e done on &arge

pop%&ation cannot )e done.

The findings of the s%rve' are )ased on the s%)*ective opinion of the respondents

and there is no $a' of assessing the tr%th of the statements.

There is some respondent0s )ias that cannot )e removed.

)sence of serio%sness of the respondent $hi&e fi&&ing the +%estionnaire.

Even after ass%ring the retai&ers that the s%rve' $as p%re&' for academic p%rpose#

the' $ere re&%ctant to share information.

3o competitors are intervie$ed and hence there is a pro)&em of comparing the

)rand $ith others thoro%gh&'. Besides this no he&p has )een taken from an'

secondar' data of this t'pe in this regard

Some retai&ers $ere not friend&' and gave distorted information.


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BB!O*RAPH7


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BB!O*RAPH7

Books:

Kot&er# :hi&ip# arketin! ana!ement: :earson :%)&ication#Kot&er rmstrong# "rinci#les o$ arketin!: :earson Ed%cation#

Beri 8.C.# arketin! Research: Tata Mc8ra$ ,i&

Bhattachar'a D.K.# Research ethodolo!y: E(ce& Books#

8%pta S.C.# %&ndamental o$ 'tatistics: ,ima&a'a :%)&ishing ,o%se

B.C. Marketing Research

Cha))ra T.3. Marketing Management

a!aines:

B%siness 1or&dB%siness Toda'To)acco or hea&th! g&o)a& stat%s report. 1, p%)&ication

e*sites:

$$$.itcporta&.com$$$.itc&td.com$$$.itc$e&comgro%p.in

$$$.$e&comeheritagehote&s.com$$$.fort%nehote&s.com
http://www.itcportal.com/http://www.itcltd.com/http://www.welcomeheritagehotels.com/http://www.itcportal.com/http://www.itcltd.com/http://www.welcomeheritagehotels.com/


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+ESTONNARE


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+ESTONNARE

)" Do 'o% smoke>

"es 3o

%" 1hat do 'o% smoke>

Bidi Cigarette Both

" If cigarette then# $hat are most determinates factors affect 'o% $hi&e )%'ing

cigarette>

Brand Compan'

:rice of :rod%ct

Taste

&& of the a)ove

n' other

4" 1hich )rand do 'o% prefer most among the fo&&o$ing

ITC GST 8TC 8odfre' :hi&&ips

Don0t kno$ n' other -p&ease specif'/WWWWW..

0" 1hich prod%ct of ITC 'o% &ike most>

8o&d 9&ake 1i&&s C&assic

India Kings ther p&ease specif'WWWW.

2" :&ease rate ITC0s prod%ct on the fo&&o$ing parameters! 2

Ger' good 8ood verage Be&o$ :oorverage

I/ F%a&it'


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Documents

Comparative Research on Market Size of Cigarette Brand of ITC Ltd