A

RESARCH REPORT ON
MARKETING STRATEGIES AMUL ICE-CREAM IN
NOIDA

Report Submitted to the Fulfillment of the Post graduate

diploma in management
[2008-2010]

Submitted To: Submitted By

MR. GIRISH KATHURIA MUKESH KUMAR

ASSOCIATE DIRECROR PGDM - 4th Sem
Roll # pgdm/08/0/60

IIMT COLLEGE OF MANAGEMENT

GREATER NOIDA

1
 DECLARATION

I,MUKESH KUMAR hereby declare that the Research report entitled “MARKETING

STRATEGIES OF AMUL ICE-CREAM IN NOIDA” being submitted in IIMT

COLLEGE OF MANAGEMENT ,fulfillment of the requirement for the degree of

Master of Business Administration is my own Endeavour and it has not been

submitted any university or institute earlier for any degree/ diploma.

Date :

Place: (MUKESH KUMAR)

2
 ACKNOWLEDGEMENT

My first regards are to almighty God, it was my great trust and belief on him which

enabled me to move on the righteous path.

First of all my whole gratitude towards Mr. RAJIVE GUPTA, Faculty, IIMTCOLLEGE OF

MANAGEMENT, Greater Noida for giving me the opportunity to do a research on the

topic MARKETING STRATEGIES OF AMUL ICE-CRÈME IN NOIDA .

I also express thanks to my friends who help me in the successes fully completion of my

research report.

MUKESH KUMAR

3
 TABLE OF CONTENT

 EXECUTIVE SUMMARY 7

 OBJECTIVE 10

 COMPANY PROFILE 11

 GCMMF AN OVER VIEW

 REVIEW OF OPERATION

 MEMBERS

 MILK PROCUREMENT

 SALES

 EXPORT

 DISTRIBUTION NETWORK

 CO-OPERATIVE EVELOPMENT PROGRAMME

 AUTONOMY

 GCMMF AND QUALITY MANAGEMENT.

4
  Market Share of Major Competitors 27

 OVER VIEW OF ICECREAM MARKET IN INDIA 28

 MARKET SIZE AND GROWTH IN INDIA

 SEGMENTATION OF ICECREAM MARKET IN INDIA

 MAJOR PLAYERS IN ICR CREAM MARKET IN INDIA

 PACKAGING OG ICECREAM IN INDIA

 MANUFACTURING PROCESS AND ECONOMICS

 OUTLOOK OF ICE CREAM INDUSTRY

 Object 41

 RESEARCH METHODOLOGY 42

 REGRESSION ANALYSIS OF THE MAJOR 44

VARIABLES AND SALES

 SWOT ANALYSIS 54

 FINDING 61

5
 LIMITATIONS 67

 RECOMMENDATIONS 68

 CONCLUSION 71

 APPENDIX 72

- Distributor's Point of View

- Retailer's Point of View

 BIBLIOGARPHY 81

6
 EXECUTIVE SUMMARY

Ice cream industry is now expected a rapid growth after the removal of licensing

restriction and investment .Liberalization, dereservation from small scale , progressive

reduction in excise duty rates have led the industry more competitive.

Gujarat co-operative Milk Marketing Federation(GCMMF), better known through its AMUL

brand, has been the latest entrant in the national ice-cream market. It has launched milk

based ice-cream under its flagship brand amul in January 1997. GCMMF has a distinct

edge over existing competitors and expected new entrants on several counts.

Advantage in procurement of milk the key raw material is ice-cream. Milk supply in India

is largely controlled by regional milk co-operatives. GCMMF itself is the leading suppliers

of milk in the western region. Besides procurement from other milk cooperatives it also

easier for GCMMF as compared to other players like kwallity, vadilal etc. Infect, GCMMF

has tie-up with the Karnataka Milk Marketing Federation, which manufactures ice cream

on behalf of GCMMF, which is marketed under the Amul brand name.

7
GCMMF can procure milk at lower prices as compared to competition .amul has been

launched at substantial price discount to main competitor Kwality and Vadilal.This has

helped in attaining a good volume grown in a short time span.

The brand awareness of amul is quite high. The amul brand has a strong equity in milk

products GCMMF has managed to leverage on this brand equity and attained over 20%

market share within a year of its launch.

GCMMF has also good distribution network. It has a wide retail distribution network,

which market its other milk products such as cheese and butter. Hence distribution reach

the single most impotent factor in creating a critical mass is already available.

During 1998, launching it eight states and two union Territories extended the amul ice

cream brand franchise. Amul ice cream has become the second largest brand in the

country and has garnered major share in its existing markets in a short time span of three

years. GCMMF’s main ice-cream manufacturing facility is located at Gandhinagar, which

is Asia’s largest and most modern integrated ice-cream manufacturing plant and uses

world renounced refrigeration units and efficient cold chain.

8
Now amul wants to enter various markets. This study will be great help to the company in

launching amul ice cream in the noida market. The market research has been covered all

the dealers and major ice-cream retailers in the noida market. Information were gathered

regarding market competitiveness, identifications the priorities factors which act as driving

force in sales. At the end of the study some recommendations were given to the company

over launching the ice cream.

9
 OBJECTIVE OF THE STUDY

This project is an attempt :-

1. Preparing and strengthening the distribution channel of Amul Icecream and

identifying the potential market..

2. To do a comparative study between different brands of Icecream in the Market.

3. Consumer survey in Noida to find out the buying behaviour of consumers.

4. Elicit feedback from consumer regarding Quality, Texture, Price, Packaging, Shelf

life and taste.

5. To find out to how to increase the sale of Amul Ice-cream in Noida.

6. To assess competitive strengths and policies.

7. To help in the selection of a right course of action

10
COMPANY PROFILE

LOGO

11
GCMMF: An Overview

Gujarat Cooperative Milk Marketing Federation (GCMMF) is India's largest food products

marketing organization. It is a state level apex body of milk cooperatives in Gujarat which

aims to provide remunerative returns to the farmers and also serve the interest of

consumers by providing quality products which are good value for money.

AMUL means "priceless" in Sanskrit. The brand name "Amul," from the Sanskrit

"Amoolya," was suggested by a quality control expert in Anand. Variants, all meaning

"priceless", are found in several Indian languages. Amul products have been in use in

millions of homes since 1946. Amul Butter, Amul Milk Powder, Amul Ghee, Amulspray,

Amul Cheese, Amul Chocolates, Amul Shrikhand, Amul Ice cream, Nutramul, Amul Milk

and Amulya have made Amul a leading food brand in India. (Turnover: Rs.18.8 billion in

1997-98). Today Amul is a symbol of many things. Of high-quality products sold at

reasonable prices. Of the genesis of a vast co-operative network. Of the triumph of

indigenous technology. Of the marketing savvy of a farmers' organisation. And of a

proven model for dairy development.

12
The seeds of the Gujarat Co-operative Milk Marketing Federation were sown in

November 1973 with the simple intention of ensuring a fair return to the producers. The

intention was to receive all the milk offered by them. The intention was to help Member

Unions develop adequate production and processing facilities. The intention was to

process all the milk received. The intention was to develop a product-mix that would

promote sustained growth. The intention was to offer consumers quality products at fair

prices, and to do so by achieving economies of scale and costs. The intention was to

create and expand a milk grid to maximize the availability of liquid milk. The intention was

that Milk Co-operatives would play an ever increasing role in the rural economy, providing

gainful employment to large numbers of producers. The intention was to raise producer

awareness that they could manage their own affairs through Co-operatives that they

controlled. The intention was to create a structure, owned by farmers that would, with

time, be the farmers' best friend.

The intention was to establish a marketing and distribution system that would reach every

corner of the country. And the intention was that the highest levels of consumer

confidence would be reposed in the brands called Amul and Sagar. Slowly but surely, like

a sapling, this Federation grew in the rich soil of cooperation, its unique strength. Here

leaders, managers and employees worked together, shared a common discipline and

contributed to the decisions that have brought them to where they are. Mutual trust and

confidence was the firm foundation on which it grew.

13
The marketing of milk and milk products began from April 1, 1974. In August 1976, this

Federation began the supply of liquid milk to the Mother Dairy, Delhi, -- insulated rail

tankers, carrying fresh milk over a distance of 1,000 kms, an important step in

establishing a National Milk Grid.

When products with common brand names are manufactured at more than one location,

a shared commitment to quality standards is essential. GCMMF adopted standards and

specifications that conform to the most stringent standards the world over. And GCMMF

Member Unions showed that these could be met.

This sapling - this Federation -- grew rapidly. Milk collections grew, turnovers soared and

surplus, which is invested in building our future, increased. Amul Cheese Spread and

Amul Shrikhand were introduced in 1983 with all new flavors. Amulya, a dairy whitener,

made its appearance in 1986 and emerged as the leading brand in the segment. Dhara,

launched in August 1988, quickly captured the market as a pure, wholesome edible oil

marketed at a fair price. In 1996, the country got Amul Mithai Mate along with the million

litre-per-day capacity Gandhinagar Mother Dairy, even as Amul Lite, a low-fat, low-

cholesterol spread entered the calorie conscious market. A completely new product, Amul

Ice Cream, also made its debut in 1996. Its success is now part of India's marketing

14
folklore. Amul Butter, Amul Ghee, Amul Cheese, Amulspray, Amulya, Amul Milk Powder

and Sagar Skimmed Milk Powder all achieved and sustained brand leader status in their

respective categories. All this while, at the grass roots, Operation Flood III extended and

strengthened our co-operative base.

It was in the 1990s that your Federation reminded the nation of our roots with a new

advertising campaign: "Amul - The Taste of India". The campaign is the common thread

in all our product campaigns, enhancing our brand name and image in India and abroad.

Amul Pizza Cheese (Mozzarella), Amul Cheese Slice, Amul Cheese Powder, Amul Malai

Paneer, Amul Mithaee Gulab Jamun, Amul Buttermilk, Dhara Health, Safal Mango Drink,

Safal Tomato Ketchup, Safal Mixed Fruit Jam all have moved from the drawing board to

the shop shelves and rapidly on to family dining tables, all in the span of one short year!

Today, twenty-five years after GCMMF planted sapling, much that we set out to achieve

is a reality. GCMMFs marketing successes - recognized as outstanding achievements in

Independent India -- have been achieved by a co-operative. This has come as a surprise

to many in our country. But, however in fulfilling its journey GCMMF should not forget one

thing - we work for the farmers and our future is indelibly linked to theirs. The producer

was, is and will be the reason we exist.

15
Annual Report of GCMMF and Review Of Operations

Members:

12 district cooperative milk producers' Union No. of Producer Members: 1.95 million No.

of Village Societies: 10,183. Cattle feed manufacturing Capacity: 1450 Mts per day

Milk Procurement

This year, GCMMF’s Member Unions increased their milk procurement by 4.5 percent,

achieving an average of 41.42 lac kilograms per day as compared to 39.65 lac kilograms

per day in 1997-98. Peak procurement during 1998-99, touched a high of 51.88 lac

kilograms in a day. Total Milk handling capacity: 6.0 million litres per day Milk collection

(Total - 1997-98): 1.41 billion liters Milk collection (Daily Average 1997-98):3.85 million

liters Milk Drying Capacity: 450 metric Tons per day.

16
Sales

During the year, Federation's sales increased by 18 percent from Rs.1,883.58 crore to

Rs.2,219.23 crore, including consignment sales of Rs.407.93 crore. Dairy product

turnover registered a robust growth of 20 percent. In addition, your Federation co-

ordinate Rs. 24.1 crore in product sales to the Defence services. This year, Amul Butter

registered record sales, with Rupee turnover growing by 15 percent. The sales value of

Amulya has registered impressive growth with an increase of 12 percent. Sale of Amul

Milk in Gujarat has increased by 21 percent in value terms. Amul Cheese sales value

has increased by a spectacular 15 percent over the previous year. Despite a decline in

the milk powder market due to adequate availability of liquid milk in most parts of the

country, we substantially increased sales value by 18 percent, a testimony to its quality.

Export

For the 5th consecutive year, GCMMF have received the Government of India's APEDA

award as the nation's largest exporter of dairy products. During the year, Amul Butter,

Ghee, Shrikhand and Gulabjamuns were launched in the USA. GCMMF’s products also

made a debut in New Zealand, Singapore,Thailand and Iraq, during the year, and

received a very encouraging consumer response. Dhara Oil During the year under

review, Dhara sales value has increased by more than 13 percent demonstrating the

17
consumer confidence in a volatile market situation. Dhara remains the undisputed market

leader among all consumer-packed edible oils. This would not have been possible

without our strong consumer franchise and Dhara's brand equity, among all oil brands in

the country.

Distribution Network

Federation's distribution network has been strengthened with the addition of 1,007 more

Wholesale Dealers, during the year. GCMMF's total number of Wholesale Dealers now

stands at 3,700 extending our reach to more than 5 lakh retailers. These statistics,

impressive as they are, do not tell the most important part of the story: the staunch

support, brand loyalty and commitment of our Wholesale Dealers and Retailers, that

makes it possible for our products to reach consumers in the remotest parts of our

country.

Co-Operative Development Programm

Our Co-operative Development Programm aims at building greater member

understanding and loyalty, orienting our farmer-owners to their role, rights and

responsibilities while promoting the highest level of member participation in their co-

operative. During the past six years, GCMMF Member Unions have taken the member

18
education programm to 5,138 village dairy co-operative societies, reaching 4,64,700 men

and 5,32,496 women milk producers.

During 1998-99, as planned, its Member Unions continued to increase the participation of

women milk producers in the dairy co-operative societies. Its Member Unions has

organized 35 women's leadership development programmes and trained 794 women

milk producers, during the past three years. The benefits under the Co-operative

Development Programm, during the year, were extended to 1,227 village dairy co-

operative societies with 84,586 men, 1,09,601women and 9,905 Members of

Management Committee of DCSs participating. GCMMF should not forget that just as the

future of this Federation rests on your unions, your strength depends on each dairy co-

operative society becoming and remaining a vibrant, growing local enterprise, important

to its members and its community. Progress Of Dairy Co-Operative Organizations

During the year, your Member Unions continued their infrastructure investments. They

upgraded and strengthened the dairy co-operative structure by adding new village dairy

co-operative societies: the number of DCSs increased from 10,183 to 10,364 during the

year. Membership grew from 19.51 to 20.83 lacs, an increase of 6.8 percent. The total

milk processing capacity of the Member Unions now stands at 60 LLPD.

19
AUTONOMY:

The basic capital of the co-operative is Member Economic Participation. Equitable

distribution of Surplus by investing in the co-operative, contributing to reserves and

benefiting the members in their way of life, are all a healthy sign of the functioning of a

co-operative. Autonomy and Independence are essential to the co-operative remaining

faithful to its values and principles. GCMMF strengthen those values and principles by

investing in Education, Training and Information, enriching our members' and the general

public's understanding of the principles and techniques of co-operation. Co-operation

among Co-operatives is reflected in everything it do - whether as GCMMF, its constituent

unions or the co-operatives that own it. Each of it must continually seek opportunities for

local, national, regional and international co-operation. Last, but not least, is Concern for

Community. For what use is co-operation if there is no common good for the community.

GCMMF and quality management:

For GCMMF Quality Management means more than the details of product manufacture --

it means keeping the customer at the center of all that it do. Quality Management, for us,

means an unceasing effort to achieve quality leadership in everything that we do. For us,

it is not just the gizmos of calculations within controllable limits of variations; it means

setting standards by which others benchmark themselves. For GCMMF Quality

Management symbolizes sincerity and trust as the basis of all our dealings. It means

building in continuous learning and improvement. It means satisfying your customers

20
better than your competitors can today and tomorrow. It means empowering your

employees, so that their growth is our growth. It means encouraging people to perform

the most mundane and routine activities with a focus on achieving quality. It is the

shaping of people's ideas and attitudes so that they are always motivated to give their

best.

All its Member Unions have helped producers to organize dairy co-operatives wherever

there is potential. The task before GCMMF now is to transform each of these co-

operatives into a self-reliant, growing business - for in the end, their growth is its growth.

Just as your Federation and Union boards have become the equals of their peers in

other forms of enterprise, so it should encourage managing committees to plan and

direct the growth of the DCS. To achieve professionalism, GCMMF would like to

encourage Union field staff to become consultants, rather than supervisors; facilitators

rather than decision-makers; trainers rather than doers. It is prepared to encourage this

shift in roles by training field staff in institutional development, consulting and facilitation

skills. It envision this field force serving as our own professional consultants for Dairy Co-

operative Society management, encouraging them to plan and to undertake programmes

in productivity enhancement, member education and quality assurance.

The milk producers of our Member Unions have a commitment to achieve Total Quality in

six priority areas - Cleanliness of the Dairy Co-operative Societies, Planning and

21
Budgeting of the Dairy Co-operative Society, Artificial Insemination Service, Quality

Testing and Milk Measurement at Dairy Co-operative Societies, Animal Feeding and

Management Practices and Self-Leadership Development.

GCMMF hope that this intervention will be implemented in all the Dairy Co-operative

Societies of its Member Unions. The Total Quality Movement in the village is the essential

first step to achieving sustained improvements in product quality, reductions in the cost of

production and improvements in the efficiency and effectiveness of milk procurement.

Today people speak of Quality as a tool of appreciation. The demand for quality is on the

rise the world over. The customer is silent no more. The day is not far off when quality will

become a core competence. AMUL have cascaded the TQM movement to its Wholesale

Dealers by organizing them into Quality Circles that work in tandem with its sales force.

We have reason to believe that this "quality domino" works wonders. GCMMF expect its

efforts to result in a structure that works relentlessly for the betterment of the entire chain

-- from producer, processor, and marketer to consumer. The quality imperative is nothing

short of a way of life for its farmers. But one brand does not guarantee an industry's

commitment to quality. It is only when the last brand in the industry achieves what

GCMMF has striven for thus far, that we can claim to be truly quality conscious. All its

Member Unions have helped producers to organize dairy co-operatives wherever there is

potential. The task before it now is to transform each of these co-operatives into a self-

reliant, growing business - for in the end, their growth is its growth.. Just as it has built

22
professionalism in the Unions and Federation, so too its societies must become

increasingly professional in their operations. To achieve this GCMMF would like to

encourage Union field staff to become consultants, rather than supervisors; facilitators

rather than decision-makers; trainers rather than doers. GCMMFF is prepared to

encourage this shift in roles by training field staff in institutional development, consulting

and facilitation skills. It envision this field force serving as its own professional consultants

for Dairy Co-operative Society management, encouraging them to plan and to undertake

programmers in productivity enhancement, member education and quality assurance.

The milk producers of its Member Unions have a commitment to achieve Total Quality in

six priority areas - Cleanliness of the Dairy Co-operative Societies, Planning and

Budgeting of the Dairy Co-operative Society, Artificial Insemination Service, Quality

Testing and Milk Measurement at Dairy Co-operative Societies, Animal Feeding and

Management Practices and Self-Leadership Development.

It is hoped that this intervention will be implemented in all the Dairy Co-operative

Societies of our Member Unions. The Total Quality Movement in the village is the

essential first step to achieving sustained improvements in product quality, reductions in

the cost of production and improvements in the efficiency and effectiveness of milk

procurement.

23
AMUL have cascaded the TQM movement to its Wholesale Dealers by organizing them

into Quality Circles that work in tandem with our sales force. We have reason to believe

that this "quality domino" works wonders. GCMMF expect its efforts to result in a

structure that works relentlessly for the betterment of the entire chain -- from producer,

processor, and marketer to consumer. The quality imperative is nothing short of a way of

life for our farmers. But one brand does not guarantee an industry's commitment to

quality. It is only when the last brand in the industry achieves what it has striven for thus

far, that it can claim to be truly quality conscious.

Product profile:

Composition :

Milk Fat 13.5% to 14.5% .Total Solids 40% to 41% . Sugar 15% Approx Acidity 0.17%

to 0.19% .Protein 3.9% to 4.1%

Food Energy Value: Calories per 100 ml -196.7 kcal

Flavors :

Vanila, Strawberry, Pineapple, Orange, Rose, Mango, Chocolate, Honey-Dew-Melon,

Tutti Frutti, Litchi, Kesar Pista, Kaju Draksh, Butterscotch, Choco chips, Rajbhog and

Cashew Break.

24
Packaging :

50 ml cup, 100 ml cup, 500 ml pack,1 litre pack, 4 litre pack, Chocobar, Ice candies,

Cones and Kulfies.

Special Features:

Various varieties of Ice Cream can be made from the basic mix by addition of required

amount of permissible colors and flavors. Dry fruits and nuts would be used for making

premium varieties of Ice Cream.

Product Specification:

Product meets BIS specification.

25
MARKET SHARE OF MAJOR COMPETITORS IN NOIDA ICECREAM MARKET

MARKET SHARE

OTHERS
8%

KWALITY
MOTHER
50%
DAIRY
42%

26
 OVER VIEW OF ICE-CREAM INDUSTRY IN INDIA

PACKAGING:

Ice-cream is marketed in three types of packaging. The most popular is cups of 100-150

ml sold in the Rs8-15 price range. Bars, sticks and cones represent another ready-to-eat

market and are priced at Rs4-20Family packs in wax coated paper/ plastic tubs are sold

at around Rs60 for the popular flavors like vanilla and strawberry, etc unto Rs100-120 for

the premium flavors.

DISTRIBUTION:

The ice-cream distribution chain typically consists of a distributor/ stockist and the retailer.

Most players have regional operations with production facilities located near the market

as adequate cold chain facilities for transportation over long distances is not available.

Distribution of national brands is done through owned or leased cold storage facilities

located in the major consumption centers. from which supplies are sent to distributors or

directly to retailers.

27
The retail network for ice cream consists of Exclusive ice cream parlors which may be

company owned or franchise outlets and other retail outlets like provision stores, hotels

and restaurants. Retail margins are high, at around 18-20%. There are an estimated

70,000 retail outlets for ice-cream in India.

Market size and growth

Ice creams are available in various forms such as cone, cups, bar (candy), party pack

etc.Candy sticks account for about 25-30% of volumes, whereas cups and other novelties

contribute the rest. Frozen desserts market in India is very small and refers to oil fat

(instead of milk fat) based ice creams. Besides, a wider range of frozen desserts are also

made in-house and served in 5 star hotels. The ice cream market in India is currently

estimated to be 160mn litre valued at Rs6.5bn (MRP Rs9bn). The market growth during

the late '80s and in the early '90s was very low at around 2-3% pa. Since the last two

years, the market has been witnessing a much faster growth at around 10-12%pa. The

growth rate could have been even higher but for poor infrastructure, (still) high excise

duty/ sales tax etc. Excise on ice cream was increased from 13% to 16% in the 1999-

2000 budget. Market growth historically was stunted by Government policies. Till 1997,

ice cream manufacture was reserved for small-scale sector. The leading players were

unable to invest adequately to develop an infrastructure of cold chain for storage and

distribution. Erratic supply and shortage of power in most parts of the country have been

the major factors limiting growth of a cold chain. As a result, there was a dearth of good

28
quality products in the market and also lack of adequate infrastructure to distribute the

same. Cadbury had entered the market in 1992 with its Dollops brand, but was

unsuccessful in building up a significant franchise and withdrew two years later. In the

absence of any competition from MNCs, local players were able to build up a strong

franchise in respective local areas. Some of the players built up their market through

exclusive parlors. But in most cases parlor network also could not extend beyond local

limits.At the beginning of first phase of liberalization, Hindustan Lever (HLL) entered the

market through frozen dessert route. Frozen desserts (which use edible oil fat instead of

milk fat) were technically not reserved for small scale. Amul ice cream, manufactured by

the largest milk-producing co-operative was introduced in Mumbai market in 1996,

intensifying the competition. In 1997, the sector was de-reserved from small scale, based

on the recommendations of the Abid Hussain Committee report, on grounds of hygiene

and technology. Removal of licensing restrictions and investment by new players in

capacity and market expansion, is expected to lead to rapid demand growth in the sector.

A 10-12% pa volume growth can be sustained for a very long period, say 2-3 decades,

due to the fact that current base of consumption is extremely small.

29
Segmentation

Ice creams are differentiated mainly by flavors. Vanilla (30% of total sales) is the most

popular flavor, followed by chocolate, strawberry and butterscotch. Certain traditional

flavors like Kesar-Pista, Kaju-Draksh, etc are also very popular. There are several other

flavors available, such as fresh seasonal fruit flavors, combinations of 2-3 flavors, etc

The market can also be segmented on the basis of consumers as follows :

Retail, Home consumption, institutional/ catering. Retail accounts for 70-75% of

volumes. Home consumption accounts for about 10% of volumes and institutional/

catering accounts for the balance.

Consumer habits and practices

Ice creams are primarily impulse purchase products and they are not yet accepted as

snack food or part of daily or frequent consumption habit. It remains once in a while

indulgence. Retail displays, fun/ excitement positioning etc play a crucial role in the

purchase decision.

30
For impulse purchase budget, ice cream competes with other impulse products such as

soft drinks, chocolates, confectionery, etc. Therefore higher share of voice of soft drinks,

has an adverse impact on ice cream demand.

While most consumers have liking for one or two flavors, they frequently try out new

flavors. Vanilla, strawberry and chocolate together account for 70% of volumes. Ice

cream is an extremely likable product by all age groups. Claimed penetration of ice

creams is high as 96%. Most consumers claiming to have consumed ice cream, however

do not actually consume, mainly due to barrier of price.

There is a strong resistance among Indian parents about ice cream consumption by

children, and a misconception that it can cause cold and other illnesses. This is largely

due to the fact that most ice creams are manufactured by local/ unorganized sector which

are of poor quality. Cold/ other illness are caused by bacteria/ germs and not by the cool

temperature of the product. The product is consumed by all age groups. However, 80% of

the consumption is accounted for by people below the 25 age group. In relative terms,

consumption is lower among older people in India. Ice creams are normally consumed in

the evening, after dinner in India. The consumption during daytime is extremely low.

31
Median unit price of ice cream is Rs10-12 currently as against Rs5-6 a few years ago.

There is a significant seasonality in ice cream consumption in India. Consumption goes

down significantly in winter to about 40% of average consumption in the North and 60%

in West and South. Home consumption is restricted due to poor quality of in-house

refrigeration. As penetration of 2-door refrigeration is limited, ice cream cannot be stored

in proper condition for a long time in a single door refrigeration. Consumption of branded

ice creams manufactured by organized sector is restricted to large metropolitan cities like

Mumbai, Delhi, Ahmedabad, Bangalore etc. The organized players have not been able to

extend their distribution chain to small villages/ towns due to small size of market and non

availability of cold chain.

Presence of unorganized sectors and unbranded products is quite large in rural and semi

urban areas. The unorganized sector mainly sell frozen milk candies (kulfis). Quality of

product is inconsistent and is often of unacceptable hygiene standards. In urban areas

also, there exists a large unorganized sector but quality of product is better in relative

terms. A large part of catering market in urban areas is catered to by the unorganized

sector.

32
MAJOR PLAYERS

The Indian Ice cream market is dominated by a large number of small local

manufacturers and regional players. There are an estimated 150 manufacturers in the

organized segment, which accounts for 40% of sales and about 2000 units in the

unorganized market. In the organized segment, the significant brands are Kwality Walls,

Vadilal, Amul and Mother Dairy.

Major National Players Brands

Hindustan UniLever Kwality Walls, Dairy Classic, Max

Vadilal International Vadilal, Dairy Fresh

GCMMF/Other Milk Co-operatives Amul, Mother Dairy

Maharashtra Dairy Products Baskin Robbins

Other Players : Besides the main national brands there are other premium brands which

have carved a niche for themselves in their respective regional markets. These players

have mostly concentrated on the large metro cities. These players sell through their

exclusive parlors. The major national players sell through franchise parlors as well as

through retail stores, groceries, restaurants, hotels, roadside stalls on highways, etc.

33
Regional Players Brands

East Tulika, Rollicks (Indus Ice creams)

West Nature World, Naturals (in Mumbai only),

Dinshaw's (in Maharashtra only)

Havmore (in Gujarat only)

North Mother Dairy, Nirula's

South Arun (Hatsun Foods), Joy

Mumbai has several players such as Nature World, Naturals, Ice-cream Express,

Dinshaw's, etc which are priced at a premium over the Kwality Walls and Amul brands

Arun, promoted by Hatsuns Foods Pvt Ltd, is a dominant brand in the South. Arun sells

its ice creams through exclusive parlors, which are popular in the southern cities. It has

375 outlets in Tamil Nadu, Kerala, Chennai, Karnataka and Andhra Pradesh, with 120 in

Chennai alone

Joy, another marginal national player has a stronger presence in the South. Joy has

around 400 outlets in the Southern region and plans to add another.

34
Together, Joy and Arun have a sizable presence in the Southern markets of Chennai and

Tamil Nadu.

Nirula's is a strong local player in Delhi. Mother Dairy the Delhi version of the Amul brand

also has a strong presence in the Northern region.

35
Market shares

Hindustan Lever has a market share of around 55%, represented mainly by Kwality Walls

brand. It has introduced the Max range of ice creams targeted at children. Vadilal the

second largest player at the national level, with an estimated market share of 10% is

losing market share gradually. Amul has already acquired about 20% market share.

Regionally, HLL is the largest player in North, East and South with market shares of 65%,

60% and 45% respectively. In the Western region, Vadilal is the leader with over 30%

market share. Amul is the second largest player with 30% share while Kwality Walls trails

with 28% share. Arun, a regional player focused on the southern region, has an all India

market share of around 4%. Rest of the market is fragmented among several local

players.

Outlook

Stiff competition is expected between the two leading players HLL and GCMMF. GCMMF

with its advantage in milk procurement and competitive pricing is expected to further

strengthen its position in the market. It has commenced innovative marketing strategies

like free home delivery. New taste variants are expected to be launched in the summer of

'99. HLL has de-bottlenecked Nashik manufacturing facility, taken over direct control of

ice cream manufacturing in the eastern and western regions and increased cold chain

36
distribution by innovative channels like mobile vending. Eight new products were

launched in 1998. With the benefits of strengthened own supply chain management and

scale economies (expanding market will reduce unit cost of distribution/ cold storage and

marketing), HLL will be able to offer better value for money. The company's strategy is to

focus on the impulse segment like Cornetto cones Feast candy, etc where margins are

higher as compared to bulk/take home packs. The other national level player Vadilal is

not financially strong enough to fight the competition and is expected to remain a

marginal brand at an all India level. However it will continue to have a stronghold in the

Gujarat state.

37
Manufacturing process and economics

Prevention of Food Adulteration Act, requires a minimum of 10% fat and 40% of other

solid matters and ice creams. Ice cream manufactured with modern technology contains

about 40% air. The key non-fat solid matters are skimmed milk powder and sugar. Ice

creams normally contain milk fat but there are several varieties (called frozen desserts)

which contain oil fat. Butter cost is about Rs120 per kg, skimmed milk powder Rs60 per

kg (Rs45 in season time) and sugar costs is about Rs15 per kg. Ice cream has to be

stocked at -26°C. Temperature required to store ice cream is significantly lower than that

required for storage of butter and milk. All liquid ingredients such as milk, cream,

concentrated milk, liquid sugar syrup and water are mixed with the dry solids such as

nonfat dry milk, sugar, stabilizer and emulsifier and blended. The blended liquid is then

pasteurized in order to destroy all microorganisms and improve the storage property of

the ice cream. The pasteurized mix is pumped through a homogenizer under pressure to

produce a smooth, uniform product.

The mix is immediately cooled to 0-4o.C and then aged to improve the body and texture

of the finished ice cream. Soluble flavoring materials are added to the mix and then the

ice cream is frozen in batch or continuous freezers. During freezing, air is incorporated

into the mix resulting in increased volume. The soft frozen product is drawn from the

freezer at -6o.C and packed at this temperature after which it is stored at a temperature

38
of -29oC till it is marketed. Frozen Desserts have a lower dairy fat content of 4%,

compared to ice creams which the Bureau of Industrial Standards defines as containing

not less than 10% fat. Typical components by weight, of an average-composition ice

cream are, 12% fat, 11% nonfat milk solids, 15% sugar, and 0.3% vegetable gum

stabilizer

39
 OBJECTIVE

 Finding major companies operating in the ice-cream industry.

 There yearly sales volume and sales

 Market share of the major players

 Finding market segmentation

 Finding existing distribution channel

 Identifying all the variables which affect sales volume

 To find out whether the dealers are ready to keep Amul ice-cream if they are given

2% more margin than what they are presently getting.

 Information required about the expectation of the retailers from amul ice cream

40
 RESEARCH METHODOLOGY

RESEARCH DESIGN:

The study used a exploratory design to analyze the market size and competitive scenario

and causal Research to assess the impact of change in some sales variables over total

sales volume.

Sources of information

Data collected from mainly two sources these are secondary sources and primary

sources.

Secondary sources:

Here information gathered from internet, books, journals. We have found the information

about the ice cream industry and company profile

41
Primary sources:

Data collected with the help of questioners we have conducted retailer and dealer survey.

Sample design:

a) target responded:- all the ice cream dealer and retailers were our target

respondent

b) sampling procedure:- to get representative on unbiased sample it was decided to

cover the major market in Noida.

c) Sample size:- covered all the ice cream dealers(3 dealers) and 35 retailers.

42
 REGRESSION ANALYSIS

The regression analysis is widely used to determine some functional relationships among

variables for the purpose of prediction and making other inferences. Here in this project

regression analysis has been used to answer major questions like.

1. what is the relationship criterion dependent variable(sales volume) and the set of

predictors(independent variables)

2. How strong is the relationship?

3. How can we predict the values of the criterion variable (sales volume) based on

the value of the predictors independent variable of the linear model.

A multiple linear model in general, can be expressed as

Yi = b +a1x1+a2x2+……..+akXk

43
 Where x is the value of the predictor(independent) variable and and y is the value of the

dependent criterion variable.

BRAND Yearly Number of Pushcart dealer Retailer Ad. Price

Sales retailers price price

expenses
(lakhs) margin margin

Y X1 X2 X3 X4 X5 X6

Kwality 120 45 31 10% 20% 4.5% 125%

Mother 102 65 53 9.75% 18% 2% 100%

dairy

44
Now from the excel sheet the possible regression analysis output for the above table is:-

Multiple 2=1
R

Standard error= 0

Observation=2

Variables coefficient standard error

X1 -3.215(a1) 0

X2 3.708(a2) 0

X3 -1262.87(a3) 0

X4 1859.281(a4) 0

X5 255.356(a5) 0

X6 -20.48(a6) 0

Intercept -81.743(b) 0

45
 Price margin

140%
120%
100%
Percentage

80%
Series1
60%
40%
20%
0%
Kwallity Mother dairy
Brand name

BRAND NAME PRICE MARGIN

Kwality 100%

Mother dairy 125%

46
 RETAILER PRICE MARGIN

21%
20%
PERCENTAGE

20%
19% PRICE
19% MARGIN
18%
18%
17%
KWALLITY MOTHER
DAIRY
BRAND NAME

BRAND NAME RETAILER PRICEMARGIN

KWALITY 20%

MOTHER DAIRY 18%

47
 PUSHCART PRICE MARGIN

17.00%
PERCENTAGE

16.80%
16.60%
16.40%
16.20% Series1
16.00%
15.80%
15.60%
KWALLITY MOTHER
DAIRY
BRAND NAME

BRAND NAME PUSHCART PRICE MARGIN

KWALLITY 16.75%

MOTHER DAIRY 16%

48
 NUMBER OF PUSHCHART

60
50
NUMBERS

40
30 Series1
20
10
0
KWALLITY MOTHER
DAIRY
BRAND NAME

BRAND NAME NUMBER OF PUSHCHART

KWALLITY 31

MOTHER DAIRY 53

49
 Numbers of retailers

70
60
50
Numbers

40
Series1
30
20
10
0
Kwallity Mother dairy
Brand name

BRAND NAME

KWALLITY 45

MOTHER DAIRY 60

50
 DEALER PRICE MARGIN

10%
10%
PERCENTAGE

10%
10%
Series1
10%
10%
10%
9%
KWALLIT MOTHER
DAIRY
BRAND NAME

BRAND NAME DEALER PRICE MARGIN

KWALLITY 10%

MOTHER DAIRY 9.75%

51
 ADVERTISEMENT EXPENCES

5.00%

4.00%
PERCENTAGE

3.00%
Series1
2.00%

1.00%

0.00%
KWALLITY MOTHER
DAIRY
BRAND NAME

BRAND NAME

KWALLITY 4.5%

MOTHER DAIRY 2%

52
 SWOT ANALYSIS OF THE COMPETITIOR

KWALITY-WALLS:

STRENGTHS:

 Kwallity-Walls is marketed by HUL

 It has strong brand equity.

 It is the oldest brand f the Noida market.

 HUL marketed this product with a wide distribution network and innovative

channels like mobile vending.

 In noida the dealer of kwallity has strong storage capacity than it’s competitor

mother dairy.

 Kwallity has a excellent product mix. Every summer it launches new verities of ice

cream.

 It has maintained a consistent high quality of ice cream.

53
  It’s advertisement is more aggressive than mother dairy. It uses both electronics

and non electronics media. HUL spend more amount of money in marketing

Kwallity than Mother dairy.

 It is much older product in the Noida market than its competitor

 Sales volume per retailer is much more than mother dairy.

WEAKNESSES

 It has comparative disadvantage in terms of pricing of the product. It s price is

much more higher than the price of mother dairy.

 Sales is declining compare to last year.

OPPORTUNITY

 It has market share of 50% in Noida market. While in India it market share is 55%.

So there is still opportunity to increase it market share.

 Progressive reduction in excise duty will help it to grow further.

54
THREATS

 Main competitor mother dairy has become a major threat of kwality. Because

within three years of it’s launch mother dairy captured 42% of the market share.

 After liberalization more players are coming in the market and so the competition

has been intensified.

55
 MOTHER DAIRY

STRENGTHS:

 Main strength of Mother Dairy is it’s competitive price. It’s price is much lower than

it’s main competitor Kwality-Walls.

 Brand awareness is high

 Established distribution net work. It has a wide retail distribution channel

 Mother Dairy has largest milk plant in Asia and the plant has iso-9002 certificate

 It has a strong milk procurement net work. It can procure milk at a lower price than

it’s competitor.

 It has also maintained a constant good quality.

WEAKNESS:

 Not financially strong enough to fight with HUL.

 Low in advertisement specially in electronic media.

 Compare to Kwallity-Walls its market share is low

56
OPPORTUNITIES:

 It has already captured 42% of the market share with in three years of it’s launch.

So there is enough opportunity to increase it’s market share.

 With increase in advertisement in electronic media, it can also boost it’s sales

volume.

 Through its competitive it can capture huge segment of the market.

THREATS:

 After liberalization, new products are coming in the market and market has

become more competitive. So there is constant pressure to maintain quality

product and competitive price.

 It faces major threat from the market leader Kwallity-Walls and also from the local

brands.

57
Interpretation of the co-efficient

The value of R2 is called co-efficient of multiple regression model. Here R2 is one which

means that sales variation is associated with the variation of the six predictors. So here

the relationship is very strong.

The fitted regression equation here is

Y=-81.74-3.21X1+3.70X2-1262.87X3+1859.28X4+255.36X5-20.48X6

Y=b+a1X1+a2X2+a3X3+a4X4+a5X5+a6X6

Here b=intercept ai=coefficient Here each coefficient shows relative contribution of

variable Xi in the regression equation. Y is criterion dependent variable Here Y = sales

volume and X1, X2, X3,X4, X5, X6 are independent predictors variables. Here X1=number

of retailers and X2= number of pushcart X3= dealer price margin X4=retailer price

margin X5=advertisement expenditure X6= price margin

Now with changing the X variables we can predict the sales volume.

58
Suppose the ideal mix of variables like the following

X1=50, X2=55, X3=10%, X4=18%, X5=3%, X6=105%

Now putting the value of the above variables we can get the following equation

Y=-81.74-3.21*50+3.70*55-1262.87*10%+1856.28*18%+255.36*3%-20.48*105%

=156.39 Lakhs will be yearly sales volume

Similarly we can find another ideal mix which can give us predicted yearly sales.

SE= standard error of the estimate. The smaller the value of the standard error better the

line fits the data. Here standard error is zero.

59
 FINDINGS

Major players: -

In Noida the ice cream market is dominated by the two regional player and some small

local manufactures. These two major players are kwality- walls and mother dairy. Two

years ago vadilal ice cream came in the market but now it is totally wiped out from the

market.

Market share:-

Kwality has a market share of 50% and mother dairy is the second largest player with

42% of the market share. The rest is shared by small local manufactures.

Market segmentation:- here also we can segment the ice cream market in terms of flavor

and size.

60
Distribution channel: -

Like the other region in Noida also the distribution channel typically consist of a distributor

/stockist and the retailers. Here another noticeable chain is distributor and the mobile

vendor.

Comparative price of the major players: -

On an avg. price of kwallity ice cream is 25% more then mother dairy. The following list

shows this comparisons

Mother dairy Price Price Kwality Price

500 ml 1000ml 500ml 1000 ml

Vanilla 32.00 60.00 42.00 65.00

Strawberry 33.00 60.00 42.00 65.00

Chocolate 45.00 85.00 56.00 110.00

Butter scotch 50.00 90.00 60.00 135.00

Kaju kishmish 105.00 135.00

(The product mix and price list of kwality ice-cream has been given in the appendix)

61
Retailer margin: -

Retailers of Kwality ice-cream are given 20% margin while retailers of Mother dairy get

18% margin.

Mobile Vendor’s margin:-

Mobile vendors of kwality are getting 16.75% margin while mother dairy gives 16%

margin to its vendors

Dealer margin:-

Kwality gives 10% margin to it’s dealer whereas mother dairy gives 9.75% margin

Credit policy:

Dealers are not getting any credit from the company. There is also no formal rule in giving

credit to the retailers but dealers are giving credit to there old customers. Retailers of

Kwality normally getting minimum 7 days to 15 days credit from the dealer. Near about

70% of the retailers are satisfied with the credit they are getting. Dealers of mother dairy

are stricter in giving credit to its retailers.

62
Replacement policy:

Near 55% of the retailers are satisfied with the replacement facility they are getting from

the dealers. In the genuine case dealer of kwality gives replacement facility to its retailers.

Advertisement expenses:-

Advertisement also plays a crucial role in ice-cream market. Kwality is marketed by HLL,

they spend more amount of money in advertisement than mother dairy. HLL nearly 4.5%

of the total expenditure are spent on the advertisement while 2% spent by the MOTHER

DAIRY

Number of pushcart (mobile vendor):-

Pushcart plays a dominant role in ice-cream market. Mother dairy has 53 pushcarts while

Kwality has 31 pushcarts.

Contribution on sales: -

Total sales can be categorizes in to three types. These are pushcart sales, retail sales

and other catering and institutional sales. Pushcarts contribute 65% of the total sales of

Mother dairy and near 50% of the total sale of Kwality.Retail sales of mother dairy is 25%

63
of its total sale and 40% of the kwality. Remaining sales are come from catering service

and institutional sales

LIMITATIONS

In the process of the exhaustive research work in-depth survey, it came to light that there

were many limitations, which came in the way of the study.

• The time taken for the project work was only six weeks, which is very less, and so,

a small no of samples were considered.

• The retailers failed to provide some useful information due to some reasons, which

they termed as personal and did not want to disclose. So, the inferences in such

cases were drawn from general psychology.

64
 CONCLUSION

Any first food business is characterized by two pillars strong brand equity and wide

distribution network. Brand equities are built over a period of time by technological

innovations, consistent high quality, aggressive advertisement and marketing. Availability

near the consumer through a wide distribution network. sis another crucial success factor,

as product are small value, frequently purchased. Amul is strong in both of this front .

According to the 30th nov. 1999 issue of A&M GCMMF(amul) is the number one product

of India which offers value for money and HLL in number two position so far as the

success at new product launch is concern rank of GCMMF(Amul) is in 11 th position. While

rank of HLL is in number one. So to get the success in new product launch Advertisement

should be more superior and innovative supported by a high caliber marketing personnel.

65
 RECOMMENDATIONS

i. No existing dealers are ready to keep amul ice-cream even if they are given 2%

more margin. Since sales volume is more important to them rather than margin. So

it will not be a effective strategy to net the existing dealers by giving 2% more

margin to them.

ii. Similarly total sales volume is more important to the retailers rather than the

margin they are getting. So getting the existing retailers by offering more margin

will not be a effective strategy.

iii. Company should find out efficient dealer from the market and it will not be difficult

for the company to find out since Amul is a popular brand in India.

iv. So there is no need to increase the dealer margin. it should be around 10%

66
 v. Some retailers of kwality ice cream are not satisfied with the facilities provided to

them. Company should target them to net besides that company should

concentrate to find out retailers from the market.

vi. Mobile vendors play a crucial role in ice cream selling. So company should stress

more on push cart selling. Presently they are getting less margin than the retailers

so to motive them company can give them more margin.

vii. More emphasize should be given on advertisement expenditure. Company should

use both electronics and non electronics media to advertise its product. Presently

HLL spend more money to promote kwality than mother dairy.

viii. Save promotional cost through the use family brand name. Company should

market different blends under the brand name Amul. It can lead to substantial

reduction in promotional costs, as the company did not need to advertise

differently for separate blends. So amul ice-cream should be included in the

advertisement in national network of doordarshan.

67
 ix. after sales service. So after launching the product there should be replacement

facility on Good after sales service: At present 60% of the retailers are not satisfied

with the genuine ground

x. Company should offer value for money to the customers. At present Kwallity ice-

cream is around 15% to 25% more than Amul ice cream. So if amul can maintain

its quality as per as Kwallity ice cream then consumer of the Kwallity can switch

over to the Amul ice-cream.

xi. Innovative Packaging also play crucial role to attract the customers. so packaging

soul be innovative and attractive.

xii. Keep touch with market: After launching the product company should always keep

touch with market by its marketing personnels.It can help the company to find out

any defects in distribution net work and also it will motivate the dealers and

retailers

xiii. Post launch survey: After launching the product. It will help the company to know

whether the new product meeting the company’s needs and wants.

68
 APPENDIX

ADDRESS 0F RETAILERS AND DISTRIBUTORS:

Sri Baba stores Sahani Stores

A-8.-B.P. complex B.P.-Complex

Noida Noida

Sector-29 Sector-29

Agarwal Sweets corner Muktas Viramani Stores

Atta Market B-P-Complex

Noida Noida

Sector-27 Sector-29

69
Jaydurga Stores Gee Pee Pesti

Noida Noida-Jalwayu vihar

Sector-21 F-Block

Sector-21

Chouhan General Stores Samji Retailers

L-104 Section j-10

Noida Noida

Sector-25 Sector-25

Agarwal Sweets corner Batica

Noida Noida

Sector-21 Sector-27

70
Variety Gift Stores Wimpy

Shop-3 Lal market Opposite atta market-

noida

Sector-37 Sector-27

Noida

Jain Sons Barcos Garden Restaurant

Shop no-19,20 Sector-12

Sector-12 Noida

Noida

Phone no-4548171/4548172

Standard Sweets and Confectioners Mignali Food

P- 38/7 D-136

Sector-12 Sector-10

71
Noida Noida

Mahalaxmi Departmental stores Mishra restaurant

S.N. –294 H-27 –S.n.13-sector-27

Sector-29 Sangam Market

ADDRESS OF THE DISTRIBUTORS

Kwallity –Ice cream Mother Dairy –Ice cream

Pooja wintrade (p) ltd 1)Seption Food Producer

Shop no.4 Damodar Complex

Nayabans-sector-15 Sector-37

Noida- Noida

2)Jaya Agency

Near Rastrya Sahara

Sector-11

Noida

72
 QUESTIONNAIRE (DISTRIBUTORS)

Name:

Address: ______________________

_______________________

_______________________

Phone no._______________________

Name of the product: _____________

Area of distribution__________________

How many years you are in distributorship business: ______________

How many years you are distributing this brand: _________________

Volume of sales: Monthly (amount)________ Yearly

(amount)_____________

What margin you are getting from selling this brand________________

Your storage capacity___________________

Transportation system________________________

73
Number of retailer being covered by you_____________

Amount of supply given by you in a week________________________

Whether You are giving credit facility to the retailers .

Yes _______No______

If yes then for how many days_________________________________

How many pushcarts do you have ?__________________

What is the percentage of sale of the pushcart ?______________

What margin you are giving to the pushcart(in %)__________________

Do you have office in the market? Yes________ No__________

How many sales man do you have ________________________

Whether do you have any sub dealer. Yes________ No_________

If yes then how many_________________________

Whether you are ready to keep amul ice cream if you are given 2% more

margin than what you are presently getting. Yes ______NO_____

Comment for that__________________________________________

____________________________________________

74
 QUESTIONNAIRE (RETAILERS)

Name:

Address:____________________

_____________________

Phone no._____________________

Name of the brand, which is available ___________

Volume of sale (amount) monthly___________ and yearly_________

What was your last year volume of sale(in rupees)______________

What margin you are getting from selling the brand____________________

Whether you get any credit facility.

Yes__________ No______________

If yes then for how many days __________________________

Whether you get any replacement facility .

Yes__________ No________

If yes then terms of replacement___________________________________

Storage capacity of your refrigerator:__________________

75
The refrigerator in your shop in provided by the company or purchased by you.-

_______________________________________________

What problems you are facing in dealing with your

distributor._____________________________________________

_____________________________________________________

How important are the following attribute to you and your satisfaction level for this brand

Category : Not so important-----important -------very important -----

Brand name

Volume of sales:

Margin:

Credit terms:

Replacement terms:

Response from distributors:

Whether you are interested in selling amul ice cream if you are given more margin

Yes________ NO_____________

Comment on that________________________________________

76
 BIBLIOGRAPHY

BOOKS

Marketing Management Kothary

Marketing Research Tull and Hawkins

WEBSITE

www.amul.com

NEWSPAPERS

Business Standard

Economic Times

77