EXECUTIVE SUMMARY 4 INDUSTRY OVERVIEW 5 COMPANY BACKGROUND 5 MISSION AND VISION 6 WHY INDIA? 6 MARKET TRENDS 7 COMPETITOR ANALYSIS 7 COMPETITIVE ADVANTAGE 8 PRODUCT DIFFERENTIATION 8 BRANDING AND POSITIONING STRATEGY 8 MARKETING STRATEGY 9 MARKET SEGMENTATION 9 TARGET MARKET 9 MARKETING MIX 10 ENTRY STRATEGY 11 ACTION PLAN 11 MARKETING BUDGET 11 CONCLUSION 12 REFERENCES 13 APPENDICES 15
EXECUTIVE SUMMARY Multinational enterprises are expanding their market share in the likes of consumers as companies try to promote and expand their products to a wider market. As markets change, it is important to choose the right approach and strategy to enter the market so that they remain competitive. India provides both, opportunities and challenges to most of the global organizations coming to India. India is the second fastest growing economy in the world. It also offers a favorable business environment for the global enterprises as its in pace with the prevailing technological revolution and globalization. It has the highest rate of returns on investments in terms of purchasing power parity. (Why India, 2006) The report primary deals with the introduction of Ben & Jerry's in the ice cream market. The lucrative nature of this sector has given rise to opportunities in the market. Ice creams can be ramified into take home, drive and artisanal segments. Among these, impulse segments constitute the highest volumes of sale as the product is featured in a smaller size and relatively cheaper. On analyzing PESTLE and Porter's five Forces it can be seen that the per capita consumption of ice creams in India is comparatively low compared to other countries. This provides an opportunity for potential growth. The urban areas of India constitute 61% of the country's sales which states that the market is characterized by low competitive rivalry. One of the country's major drawback is that the demand for cold distribution chain and electricity issues has affected the industry. In the future, Ben & Jerry's should follow the growth strategy in India. It's not that popular as it is in other countries, it should increase its market share in few years. In India, Amul, Baskin Robbins and Gelato gives a strong competition to Ben & Jerry. There is more opportunity to spend more on advertising and PR and to grab more market share. It should also introduce more sugar-free ice creams to target the health conscious customers. To reduce transportation costs, it has to set up more factories in India. It can later on implement growth by external expansion through vertical integration. They can merge with the raw material suppliers to establish a market and then give contracts to supermarkets and selected retail stores to reach the consumers. Through these strategies, Ben & Jerry's can improve its current position in the market. If they can address these issues they can increase their market share leveraging their existing brand image. Page 5 of 21 INDUSTRY OVERVIEW The ice cream industry all over the world is a seasonal industry, and highest amount of sales takes place during the summer. The Indian ice cream industry is one of the fastest growing industries in food processing and dairy. This fragmented industry consists of more than 10,000 players. Amul, being the leader in this sector, holds nearly 32% of the market share which is then followed by the Vadilal Industries. Other players in this market include Hindustan Unilever, Mother Diary, Havmor, etc. All these companies joined to establish the Indian Ice-Cream Manufacturers Association (IICMA) in 2011. (Indianl et al., 2015) The ice cream market in India is projected to be around INR 4,000 crores, and its growth rate has been 15%-20% every year. It is anticipated that by 2019, this sector will reach INR 6,198 crores. When compared to China and the United States, India has a low per capita income of ice cream consumption, which is 400ml, while China has 3000ml and the United States has 22,000ml. This sector has a great potential for growth as there in an increase in the disposable income, the change in lifestyle and also the improving the infrastructure of cold chain (A study of India's ice cream market, 2016) In India, the biggest victim of power supply and poor infrastructure of roads is the ice cream industry. Due to this most of the brands focus only on a few districts or up to the state level. Only a few national brands do business nationally since there is high perishability of these products specially when there is no power (Indianl et al., 2015).
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