Month: September 2017
Incorruptible Play Review
Incorruptible The play, Incorruptible, is full of deceit, irony and just a little bit of morally wrong acts committed by Christian monks. The first act begins with Charles the head monk of the church is praying to the relics of the Saint Stella. A peasant woman is trying to sneak in a few prayers without paying the church a penny to pray. Martin, another monk of the church, and Charles are arguing because their church is not getting very many donations and not making very much money.
Saint Stella’s relics that these Brothers honor as their church patron have seemed to stop performing miracles. They all hope that Brother Felix, yet another monk in the church will bring the Pope to their church to see their Saint and honor it, hoping that it will help Saint Stella to perform miracles. Unfortunately, Brother Felix is unable to bring the Pope to their church. The Pope had already gone off to a different city because it was rumored that a monk with one eye sold the real relics of Saint Stella to the church of the city of Barbados. This insinuating that the ones the Brothers have is not the real Saint Stella, but a fake.
The peasant woman comes back and wants her donation of one button back. The rumor has spread threw the city that the Saint Stella bones all the followers of that church have given pennies and prayers to is a fake.
The monks hear the story from the peasant woman and strike up a deal to get the “one eyed monk” who delivered the “real” relics to the church in Barbados, to come to their church and want to know why he stole their relics. This one eyed monk who sold the relics happens to be the peasant woman’s son-in-law, who is a sort of jester type character. He tries to get away but then the monks accuse him of taking their relics, they steal his 30 gold pieces and force him to tell him what it was that he did. Jack, the jester’s name, tells the monks how he dug up a body from a grave and gave the bones to Abess, the head nun of the church in Barbados, who also happens to be Charles’ sister. With this being reveled that the bones jack sold where fake Martin, comes up with the idea of digging up all the graves in their church graveyard and sell the body parts as real Saints.
This eventually gets out of control. Martin manipulates Charles into doing most of these terrible things and forces Jack to become a monk and dig up bodies. While Jack is playing the role of monk he sneaks his girlfriend Marie into the church for some, frolicking, as it was put. Little do they all know that Marie is the long lost love of Felix, the reason he became a monk for this church was because of Saint Stella. Through out the play Felix and Marie miss each other just by moments. By the end of the play Martin has gotten caught up in making so much money that he has gotten cocky.
Wanting for the Pope to visit so badly he writes to the Pope telling him that they have an Incorruptible, which is a body that does not decompose the same as others because they are so holy. The Pope says he will come but the problem is that these Brothers do not have an Incorruptible. For awhile Jack did not want to get caught sneaking Marie in so he hides her in a sack. Martin mistakes Marie as the “Incorruptible” he sent Jack to go find. In the end Marie goes off with Felix to do what they planned on doing before and the church still has Saint Stella who does perform another miracle of giving Jack back is one eye.
This Play was one that seemed to be set back in the times, but had a modern twist to it. The theme of this play could be said to be a few different things. Personally, there seems to be a lean toward having faith. Through out the play they all through out quotes from the bible about having faith, and that without faith you won’t get anything you want or need. Through out the play all of the monks at one point in time had lost some faith in their patron Saint. Only when all those who lost faith started to have real faith in Saint Stella is when it was seen that miracles were happening.
Sometimes we need to go through some rough patches to get to what we really want in the end. The important thing to remember however is that you’ve got to have faith in what you believe in and not give that up. The theme of faith was not the only thing that was pretty consistent through out the play.
Between act 1 and act 2 there was only one costume change and it was not very different from the first one. The peasant woman’s costume does not change from act to act, or if it did it was very subtle and I did not notice. Marie’s costume changed a little but it was still the same idea of a torn skirt, looking some what of a collected mess. The monks changed the colors of their gowns to show that they had money now.
The blue outfits made the monks look more fun and showing that they were expensive. This tells the audience that since the last act they’ve idea of pretty much hustling body parts has been working out pretty well for them. All these actors in this performance were both funny and did a fantastic job. My favorite I think would have to be Felix, played by Geoffrey Zokal. What was so funny about his character was his comments made under his breathe almost. Maybe it was were I had chosen to sit, but I sitting first row right in front of the skeleton head I heard almost all of the little comments made.
When Martin said something that was just ridiculous or Charles was agreeing to some ridiculous plan he had a funny way of trying to stop it, but not trying to hard. He really showed how much he cared for the relics and that showed to me that he had an attachment to this saint for a reason. His character did have a reason to be attached to this Saint and Felix did well with praying to it, when Martin wanted to get rid of Saint Stella Felix wraps the bones and “sleeps with Saint Stella”. Geoffrey seemed very into the role as well. He looked like he was having fun with it and that in turn made it more enjoyable for myself. It was an enjoyable dark comedy for a non-theatre major, such as me. It had the “dark” because these monks believed that these old bones of dead people, who quite possible might not even bee Saint’s can actually cure a woman with an oozing lump on her back. The whole play is comical but they are completely serious. What they are saying is funny to us, but the play is supposed to show a light side of the seriousness of the topic.
For example, during the play when Felix is freaking out about Martin and Charles getting rid of Saint Stella’s bones, he runs to the alter and takes the bones with him. That was very funny to me, but for the playa it was showing his devotion to his faith. That Felix was one who still had faith in his patron saint, and that she would help him get his “love” back. The title of the play means a body that does not decay like many others because of its holiness. It is a little ironic that Marie is the girl that Felix talked to jack about. Felix was under the impression that Marie was dead, drowned.
She ironically goes through most of the play not even knowing that Felix is there and vice versa. She was to pretend to be the Incorruptible for a sort while and she technically was thought to be dead, two different times.
Incorruptible is a funny dark comedy that I would recommend for others to go see. This was not a show that I had to try at all to stay away during. I had fun with the show, the cast was fun and the performance was done well.
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Importance of Selling to Company
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Control the Spread of the Disease
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Life of Prophet Muhammad
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Spudspycase
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Dear John Letter
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Java Inventory Program 1-3
Instructions: This document contains the tutorials for Inventory programs 1-3. These programs will be separated by pages between each program in addition to being color coded. NOTE: This information will need to be copy and pasted into a notepad document. For your own benefit, please do not plagiarize this work. // Inventory program part 1 Inventory1. java // // A product class that stores and makes the name of the product, the item number, the number of units in stock, and the price of each unit retrievable. // Java app. that displays the product name, the item number, price of each unit, and the value of inventory. mport java. util. Scanner; import java. text.
NumberFormat; import java. text. DecimalFormat; class Product { private String name; // product name private int number; // product part number private double price; // product unit price private int quantity; // products in stock public Product(String N, int Num, double P, int Q) // Constructor { name = N; number = Num; price = P; quantity = Q; } // Getters and setters public void setName(String N) // method to set product name { name = N; } public String getName() // method to get product name { return name; } ublic void setNumber(int Num) // method to set part number { number = Num; } public int getNumber() // method to get part number { return number; } public void setPrice(double P) // method to set unit price { price = P; } public double getPrice() // method to get unit price { return price; } public void setQuantity(int Q) // method to set product quantity { quantity = Q; } public int getQuantity() // method to get product quantity { return quantity; } public double getTotalPrice() // return the total value of the inventory { double TotalPrice = quantity * price; eturn TotalPrice; } } // End class product public class Inventory1 { // starts execution of Inventory program public static void main(String args[]) { // create Scanner to obtain input from command window Scanner input = new Scanner(System. in); // create NumberFormat to obtain input from command window NumberFormat currency = new DecimalFormat(“u00A4 #. 00”); System. out. println(); // outputs a blank line System. out. print(“Enter the name of the product: “); // prompt for name of product String N = input. nextLine(); // read product name from user System. out. println(); // outputs a blank line System. out. println(); // outputs a blank line System. out. print(“Enter the product number for the product: “); // prompt for product number int Num = input. nextInt(); // read product number from user System. out. println(); // outputs a blank line System. out. println(); // outputs a blank line System. out. print(“Enter the unit price for the product: $ “); // prompt for unit price double P = input. nextDouble(); //read product unit price from user System. out. println(); // outputs a blank line System. out. rintln(); // outputs a blank line System. out. print(“Enter number of units of product in stock: “); // prompt for number of units in stock int Q = input. nextInt(); // read number of units in stock System. out. println(); // outputs a blank line double TotalPrice = Q * P; System. out. println(); // outputs a blank line System. out. println(“Product name: “+ N); System. out. println(); // outputs blank line System. out. println(“Product number: ” + Num); System. out. println(); // outputs blank line System. out. println(“Product’s unit price: ” + currency. format(P)); System. out. println(); // outputs blank line System. out. println(“The value of the inventory is ” + currency. format(TotalPrice)); } // End method main } // End class Inventory1 // Inventory program part 2 Inventory2. java // // Uses a method to calculate the value of the entire inventory // Uses another method to sort the array items by the name of the product // Output displays all product information as well as value of entire inventory import java. util. *; import java. text. NumberFormat; import java. text. DecimalFormat; class Product implements Comparable { rivate String name; // class variable that stores the item name private int number; // class variable that stores the item number private int quantity; // class variable that stores the quantity in stock private double price; // class variable that stores the item price public Product(String N, int Num, int Q, double P) // Constructor for the Supplies class { name = N; number = Num; quantity = Q; price = P; } // Getters and setters public void setName(String N) // method to set product name { name = N; } public String getName() // method to get product name { return name; } ublic void setNumber(int Num) // method to set part number { number = Num; } public int getNumber() // method to get part number { return number; } public void setPrice(double P) // method to set unit price { price = P; } public double getPrice() // method to get unit price { return price; } public void setQuantity(int Q) // method to set product quantity { quantity = Q; } public int getQuantity() // method to get product quantity { return quantity; } public double calculateInventoryValue() // method to calculate the value of the inventory { return price * quantity; } // sorts Products by their product name. ublic int compareTo (Object o) { Product s = (Product)o; return name. compareTo(s. getName()); } public String toString() // returns a string representation of the product information { System. out. println(); return “Name: “+name+ ” Number: “+number+” Price: $ “+ price +” Quantity: “+quantity+ ” Value: $ “+calculateInventoryValue(); } } // End class product public class Inventory2 { // main methods begins execution of java application public static void main( String args[]) { Product[] supplies = new Product[6]; // create array of office supllies // inventory of office supplies Product p1 = new Product(“Pens”, 1, 76, . 5); Product p2 = new Product(“Markers”, 2, 43, 1. 00); Product p3 = new Product(“White-out”, 3, 17, 2. 00); Product p4 = new Product(“Pencils”, 4, 91, . 15); Product p5 = new Product(“Crayons”, 5, 62, . 99); Product p6 = new Product(“Paint Set”, 6, 12, 19. 99); supplies
[0] = p1; supplies
[1] = p2; supplies
[2] = p3; supplies
[3] = p4; supplies
[4] = p5; supplies
[5] = p6; double total = 0. 0; for(int i= 0; i < 6;i++) { total = total + supplies[i]. calculateInventoryValue(); } // Display the total value of the inventory on the screen System. out. printf(“Total value of the entire inventory is: $ %. f”, total); System. out. println(); Arrays. sort(supplies); for(Product s: supplies) { System. out. println(s); System. out. println(); } } // end main method }//end class Inventory2 //Inventory Program Part 3 Inventory3. java // //Uses a subclass that adds an additional feature //Uses a method in the subclass to calculate the value of the inventory and adds a 5% restocking fee //to the value of each product //Displays output, sorted by name, including additional feature and 5% restocking fee class Inventory { String number; //stores product number String name; //stores product name nt quantity; //stores quanity in stock double price; //stores product price double restockFee; //stores product restocking fee public Inventory(String Num, String N, int Q, double P, double F) { name = N; number = Num; quantity = Q; price = P; restockFee = F; } public void setName(String N) //Method to set and get the product name { name = N; } public String getName() { return name; } public void setNumber(String Num) //Method to set and get the product number { number = Num; } public String getNumber() { return number; } public void setQuantity(int Q) //Method to set and get the quantity in stock { quantity = Q; public int getQuantity() { return quantity; } public void setPrice(double P) //Method to set and get the price of product { price = P; } public double getPrice() { return price; } public void setRestockFee(double F) //Method to set and get the product restocking fee { restockFee = F; } public double getRestockFee() { return restockFee; } public double getInventoryValue() //Method to calculate the value of the in stock inventory { return price * quantity; } public static double getTotalValueOfAllInventory(Inventory [] inv) { double tot = 0. 00; for(int i = 0; i < inv. length; i++) { tot += inv[i]. etInventoryValue(); } return tot; } public String toString() { return “Product Name: “+name + ” Product Number: “+number+” Product Price: $”+price+” Quantity in Stock: “+quantity + ” Inventory Value: $”+getInventoryValue(); } } // end Inventory Class class Product extends Inventory { String brand;// Subclass to add the product’s name brand double restockFee;// Restock fee to add to the inventory value // initialize constructor public Product(String brand, double restockFee, String Num, String N, int Q, double P, double F) { super(Num, N, Q, P, F); this. brand = brand; this. restockFee = restockFee; } ublic double getInventoryValue() // Figures total inventory value including restocking fee { return super. getInventoryValue() + (super. getInventoryValue() * restockFee); } public String toString() { StringBuffer sb = new StringBuffer(” Brand: “). append(brand). append(” “); sb. append(super. toString()); return sb. toString(); } } // End Product Class public class Inventory3 { public static void main(String args[]) { double restockFee = 0. 05; Product[] inventory = new Product[6]; //create array of Office Supplies inventory
[0] = new Product(“Gel Glide” , restockFee, “1”,”Rollerball Pens” , 26, 1. 00, . 5 ); inventory
[1] = new Product(“Sharpie” , restockFee, “2”,”Markers” , 23, 2. 00, 0. 10 ); inventory
[2] = new Product(“Bic”, restockFee, “3”,”White-out”, 7, 3. 00, . 15); inventory
[3] = new Product(“Generic”, restockFee,”4″,”Lead Pencils” , 12, 4. 00, . 20); inventory
[4] = new Product(“Crayola”, restockFee, “5”, “Crayons”, 12, 5. 00, . 25); inventory
[5] = new Product(“Rose Art”, restockFee, “6”, “Paint Set”, 12, 6. 00, . 30); Product temp[] = new Product[1]; System. out. print( ” Thank you for using Office Supply Inventory Program ” ); // display title System. out. println(); System. ut. println(); // Sorting the Inventory Information for(int j = 0; j < inventory. length – 1; j++) { for(int k = 0; k < inventory. length – 1; k++) { if(inventory[k]. getName(). compareToIgnoreCase(inventory[k+1]. getName()) > 0) { temp
[0] = inventory[k]; inventory[k] = inventory[k+1]; inventory[k+1] = temp[0]; } } } // Print the Inventory Information for(int j = 0; j < inventory. length; j++) { System. out. println(inventory[j]. toString()); } System. out. printf(” Total inventory value: $%. 2f ” , Inventory. getTotalValueOfAllInventory(inventory)); return; } } // End Inventory3 Class
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Calculating the Probability of a Type II Error
Calculating the Probability of a Type II Error
To properly interpret the results of a test of hypothesis requires that you be able to judge the pvalue of the test. However, to do so also requires that you have an understanding of the relationship between Type I and Type II errors. Here, we describe how the probability of a Type II error is computed. A Type II error occurs when a false null hypothesis is not rejected. For example, if a rejection region is as follows: xbar < 127. 06 or xbar > 132. 94 and the null hypothesis is false, then the probability of a Type II error is defined as = P(127. 6 < xbar < 132. 94 (given that H0 is false) The condition that the null hypothesis is false only tells us that the mean is not equal to 130. If we want to compute , we need to specify a value for . Suppose that we want to determine the probability of making a Type II error when, in actual fact, = 135, 131, 139, and/or any other value. A Windmill Example: The feasibility of constructing a profitable electricityproducing windmill depends on the average velocity of the wind. For a certain type of windmill, the average wind speed would have to exceed 20 mph in order for its construction to be feasible. To test whether or not a particular site is appropriate for this windmill, 50 readings of the wind velocity are taken, and the average is calculated. The test is designed to answer the question, is the site feasible. That is, is there sufficient evidence to conclude that the average wind velocity exceeds 20 mph. We want to test the following hypotheses. H0: A 20 HA: A > 20 If, when the test is conducted, a Type I error is committed (rejecting the null hypothesis when it is true), we would conclude mistakenly that the average wind velocity exceeds 20 mph. The consequence of this decision is that the windmill would be built on an inappropriate site. Because this error is quite costly, we specify a small value for a, = 0. 01. If a Type II error is committed (not rejecting the null hypothesis when it is false), we would conclude mistakenly that the average wind velocity does not exceed 20 mph. As a result, we would not build the windmill on that site, even though the site is a good one. The cost of this error may not be very large, since, if the site under consideration is judged to be inappropriate, the search for a good site would simply continue. But suppose that a site where the wind velocity is greater than or equal to 25 mph is extremely profitable. To judge the effectiveness of this test (to determine if our selection of = 0. 01 and n = 50 is appropriate), we compute the probability of committing this error. Our task is to calculate when = 25. (Assume that we know that ( = 12 mph. ) Our first task is to set up the rejection region in terms of xbar.
Rejection region: z > z = z0. 01 = 2. 33 (look up 0. 9900 in Table) So we have z = (xbar-) / (/n) = (xbar-20) / (12/50) > 2. 33 Rejection region: xbar > 23. 95 Region where H0 is not rejected: xbar < 23. 5 Thus: = P(xbar < 23. 95 (given that = 25) = P{[(xbar-) / (/n)] < [(23. 95-25) / (12/50)] = P(z < -0. 62) = 0. 5 – 0. 2324 = 0. 2672 23. 95| 22| 1. 95| 1. 697| 1. 15| 0. 3749| 0. 8749| 23. 95| 22. 5| 1. 45| 1. 697| 0. 85| 0. 3023| 0. 8023| 23. 95| 23| 0. 95| 1. 697| 0. 56| 0. 2123| 0. 7123| 23. 95| 23. 5| 0. 45| 1. 697| 0. 27| 0. 1064| 0. 6064| 23. 95| 24| -0. 05| 1. 697| -0. 03| 0. 0120| 0. 4880| 23. 95| 24. 5| -0. 55| 1. 697| -0. 32| 0. 1255| 0. 3745| 23. 95| 25| -1. 05| 1. 697| -0. 62| 0. 2324| 0. 2676| 23. 95| 25. 5| -1. 55| 1. 697| -0. 91| 0. 3186| 0. 1814| 23. 95| 26| -2. 05| 1. 697| -1. 21| 0. 3869| 0. 1131| 3. 95| 26. 5| -2. 55| 1. 697| -1. 50| 0. 4332| 0. 0668| 23. 95| 27| -3. 05| 1. 697| -1. 80| 0. 4641| 0. 0359| This is the graph for associated with numbers from 18 to 32. 5: The probability of not rejecting the null hypothesis when = 25 is 0. 2676 (see above Figure). This means that, when the mean wind velocity is 25 mph, there is a 26. 76% probability of erroneously concluding that the site is not profitable. If this probability is considered too large, we can reduce it by either increasing or increasing n. For example, if we increase a to 0. 10 and leave n = 50, then = 0. 0475. Rejection region: (xbar-20) / (12/50) > 1. 8 xbar > 22. 17 22. 17| 24. 5| -2. 33| 1. 697| -1. 37| 0. 4147| 0. 0853| 22. 17| 25| -2. 83| 1. 697| -1. 67| 0. 4525| 0. 0475| 22. 17| 25. 5| -3. 33| 1. 697| -1. 96| 0. 4750| 0. 0250| 25 With = 0. 10, however, the probability of building on a site that is not profitable is too large. If we let = 0. 01 but increase n to 100, then = 0. 0329. 22. 796| 23| -0. 204| 1. 20| -0. 17| 0. 0675| 0. 4325| 22. 796| 23. 5| -0. 704| 1. 20| -0. 59| 0. 2224| 0. 2776| 22. 796| 24| -1. 204| 1. 20| -1. 00| 0. 3413| 0. 1587| 22. 796| 24. 5| -1. 704| 1. 20| -1. 42| 0. 4222| 0. 0778| 22. 796| 25| -2. 204| 1. 20| -1. 84| 0. 4671| 0. 329| 22. 796| 25. 5| -2. 704| 1. 20| -2. 25| 0. 4878| 0. 0122| 22. 796| 26| -3. 204| 1. 20| -2. 67| 0. 4962| 0. 0038| 22. 796| 26. 5| -3. 704| 1. 20| -3. 09| 0. 4990| 0. 0010| 22. 796| 27| -4. 204| 1. 20| -3. 50| 0. 5000| 0. 0000| Now both and are quite small, but the cost of sampling has increased. Nonetheless, the cost of sampling is small in comparison to the costs of making Type I and Type II errors in this situation. Another way of judging a test is to measure its power -the probability of its leading us to reject the null hypothesis when it is falserather than measuring the probability of a Type II error. Thus, the power of the test is equal to 1 . In the present example, the power of the test with n = 50 and = . 01 is 1 0. 2676 = 0. 7324. When more than one test can be performed in a given situation, we would naturally prefer to use the test that is correct more frequently. If (given the same alternative hypothesis, sample size, and significance level) one test has a higher power than a second test, the first test is said to be more powerful. To determine the appropriate sample size for specified levels of the Type I and Type II Errors, consult the Text.
ASSIGNMENT:
In the windmill example presented in class, the Beta and Power functions are computed for n = 50. Compute and display the Beta and Power functions for n = 25, n = 75, and n = 125. Display your results in no more than two graphs. Briefly discuss your results.
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How did the Transcontinental Railroad Affect Western Expansion?
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Dinosaurs of the Jurassic Period
Dinosaurs of the Jurassic Period Nicole Jones Park University Abstract This paper examines the Dinosaurs of the Jurassic Period. The paper considers the holistic view of the Jurassic period in addition to the Dinosaurs that roamed the Earth during this period. Finally, historical consideration evidence leading to the demise or disappearance of the dinosaurs.
Analysis is based upon research conducted from ten academic reference sites. The paper provides an understanding of the different species that lived during the Jurassic period and the environmental and climatic conditions that supported them. Also discussed is a significant amount of information regarding palaeontologists’ discoveries of great dinosaur faunas, such as the Jurassic Morrison Formation. Why did the dinosaurs flourish during the Jurassic period and what evidence is there to support it? How did the environment and climatic conditions impact the evolution of the species? What ultimately resulted in the extinction of the species? The Jurassic Period, also known as the Age of Reptiles, and is marked from the end of the Triassic period to the beginning of the Cretaceous period; the time frames within this period are broken down into Early, Middle and Late Jurassic. There are three main extinction events in the life of the dinosaurs, none of which took place during the Jurassic period; however, the beginning of the Jurassic period is identified by the Triassic-Jurassic extinction.
The term Jurassic was linked to the Jura Mountains of Switzerland, a small range north of the Swiss Alps dividing the Rhone and Rhine rivers (Palmer, 2002). In the Jurassic period, there were many vertebrates living in the oceans, including, fish and marine reptiles; these included that of coiled ammonites, ichthyosaurs, marine crocodiles, and long-necked plesiosaurs. Herbivores roamed the earth, feeding on the lush growths of palm-like cycads and ferns, while being preyed upon by smaller but vicious carnivores; and vertebrates such as the pterosaurs took to the sky (Palmer, 2002). During this time, the dinosaurs dominated the earth and were more numerous and more extraordinary than those in the Triassic period, in fact, the Jurassic period housed the largest land animals of all time.
Palaeontologists have discovered many amazing dinosaur faunas revealing information about the dinosaurs as well as the geographical and climatical terrain of the Jurassic period, conceding the Jurassic Period to be one of the most flourishing times in the Mesozoic era. Climatic features are a very important consideration in Jurassic times, primarily temperature and precipitation; for many years it has been said that the climates of the Jurassic were similar to those of the Cretaceous, yet were considerably more equable than the climates we know today (Hallam, 1993). Palaeontologists had formed a consensus that the climate was hot and humid, with steady precipitation which presented ideal climatic conditions for the explosive spread of flora. However, this belief has recently been challenged; while the climates of the Jurassic haven’t been studied like those of the Cretaceous, enough data has been gathered to form reasonably confident hypotheses regarding the overall patterns during that time. One example in particular is shown in the large supercontinent of Pangaea, which is believed to have experienced a significantly seasonal range of temperatures (Hallam, 1993). Early in the Jurassic period, this large continent continued and accelerated to breakup, creating huge volcanoes with rivers of lava and clouds of poisonous gases; it is possible that this contributed to the significantly higher atmospheric levels of carbon dioxide which is assumed of Jurassic times (Hallam, 1993). Pangaea divided into many smaller continents; the northern half, Laurasia, divided into North America and Eurasia, and by the Middle Jurassic the southern half, Gondwana began to break up; the eastern part, to include Antarctica, India, Australia and Madagascar separated from Africa and South America, making up the western portion (Unknown, 2010). Thus, oceans engulfed the areas in between, raising the mountains on the seafloor, which raised sea levels higher, flowing onto the continents (Unknown, n. d. ). Hence, the climate changed accordingly; for example, they may have experienced “strong seasonal contrasts of temperature within large continental areas as well as some polar ice.
Monsoonal effects were dominant on the continents and rainfall in low and mid latitudes was probably strongly seasonal, with arid conditions prevailing at low latitudes” (Hallam, 1993). In the late Jurassic, scientists noted a considerable spread of aridity in southern Eurasia and attributed this to orographic effects (Hallam, 1993). Although there are no concrete conclusions regarding the climate during the Jurassic times, we do know that the forests flourished and the dinosaurs grew larger than ever before. Research has shown the flora distributions of the Jurassic period indicate a wide array of ferns, ginkgoes, conifers, bennettitaleans and cycads, many of which still exist today (Palmer, 2002). In the Jurassic life, the conifers were the most variegated of the large trees, and among those were the ginkgos. Ginkoes carpeted the mid-to high northern latitudes, and podocarps, a type of conifer, were particularly successful south of the Equator” (Unknown, n. d. ). The ostensibly palm-like cyads were very diverse and abundant; so much so that the Jurassic period could also be referred to as “the Age of the Cycads” (Kazlev, 2002). Some cyads were very tall trees with rough branches that were covered by leaf scars and fern-like fronds (Kazlev, 2002). Others, such as the beenettitaleans, were of extreme importance among the shrub-like trees, having short and stubby trunks with the fronds sprouting from the top (Kazlev, 2002). Although many different trees and plants fared well during the Triassic period, we can conclude the flora of the Jurassic was much more lush and verdant (Viegas, 2010). However, there are marked differences in the vegetation based on their geographical location. In the Lower Jurassic, scientists have mapped the northern floral zone to include such countries as Siberia and Japan, Greenland, northern and central Europe; from here, they mapped a southern zone, which extended from Mexico to the Middle East and southern China (as cited in Hallam, 1993). Therefore, it is possible the zones might reflect a wide variation of the latitudinal differentiation, however, some considered the differences were due in part to the continentality of the climate, thus exhibiting evidence to the degree of contrast between the seasons (as cited in Hallam, 1993). The climate of the northern zone was considered to be humid and moderately warm whilst that of the southern zone could be compared to the present humid tropical zone (Hallam, 1993). Conifer pollens have been used as an indicator to detect the amount of aridity during this period; the pollens were found to be the most abundant Upper Jurassic sediments, and as such indicated a time of maximum aridity during that time (as cited in Hallam, 1993). Scientists also found strong differentiation between the conifer species observed in the northern hemisphere and that of the southern emisphere; this is considered not a reflection of climate change, but more of shifting continents, as pollen, cannot cross oceans (Hallam, 1993). For example, “The Indian floras are significantly different from those in adjacent Eurasia, which presumably relates to the subcontinent’s northward migration in post-Jurassic times” (Hallam, pg. 288. 1993). In essence, the Jurassic period was a time of abundance in terms of vegetation growth and the evolutionary growth of the dinosaurs, but there was more to life than plants and dinosaurs; the seas also began to flourish. The breaking up of the supercontinent created a new environment for marine life as well; Similar to the growth on land, massive changes were taking place in the oceans in many different ways, particularly with the newly formed shallow interior seas. Fishlike ichthyosaurs were at their crest, replacing their Triassic predecessors, they shared the oceans with creatures displaying long necks and paddle fins known as plesiosaurs, in addition to giant marine crocodiles, and modern shark groups also began to appear (Kazlev, 2002). Another species prominent in the seas were the Jurassic cephalopods which included ammonites and belemnites. In the seas there was also a wide array of invertebrates, to include: sponges, corals, bryozoa, gastropods, bivalves and ammonoid and belemnite cephalopods; while they all thrived, the latter two groups becamd the dominant nektonic invertebrates for the remainder of the Mesozoic period (Kazlev, 2002). Plankton was also very abundant, more specifically, the dinoflagellates and coccolithophorids became more diverse during this time (Palmer, 2002). Indeed, the Jurassic oceans have been said to have something really special about them; “Of the dozen or so types of planktonic organisms with a fossil record, at least four either first evolved or experienced massive radiation during Jurassic” (Kazlev, 2002). There are many ideas of what that “something” might be; it could have been something as simple as an abundance of free calcium, however, red algae evolved in the Jurassic which suggests that the “something in the water” was the rhodophytes themselves, or alternatively, their chloroplasts (Kazlev, 2002). Some have gone as far to say that the plankton at that time was so copious it may have turned parts of the ocean red.
Due to the vast changes on the land and in the seas, we can assume the dinosaurs of the Jurassic evolved as well, keeping up with their surroundings. The dinosaurs of the Jurassic period were very different from each other, consisting of a greater variety, in comparison to other periods. Due to the changes in climate, the forests grew, the herbivores became immense, and the carnivores also grew larger and fiercer to go up against such huge prey. It was a time of the largest land animals ever to exist on our planet; the saurpods were enormous vegetarian feeders who fed on a variety of plants, rumbling around on four, huge, pillar like legs, had a very long necks and long tails following behind (Unknown, n. d. ). This large group of saurischian herbivores had relatively small heads, considering their overall size, and displayed peg-like teeth that were primarily used for grazing (Unknown, n. d. ). Included in this group was the Apatosaurus, also known as the Brontosaurus, weighing in at about 30 tons and was around 65 feet in length; another well-known herbivore during this time was the Diplodocus; the Diplodocus was much longer, measuring around 90 feet in total length, and an estimated weight of 11 tons (Unknown, n. d. ). Also in the Late Jurassic was the Brachiosaurus who was even more enormous, weighing an astonishing 55 to 80 tons (Unknown, n. d. ). These animals walked the great floodplains eating the leaves of tall conifers and taking water from the rivers as they traveled; they are believed to be in herd animals that traveled at a very leisurely pace. Herbivorous dinosaurs consumed a vast amount of food in order to survive; they needed to eat continuously in order to store up large surpluses of energy in order to escape their predators.
Another plant-eating dinosaur from the ornithopods, was the Stegosaurus, one of the most popular of the distinct-looking stegosaur group; famous for the row of back plates, also known as ‘dermal plates or dermal armor’, which palaeontologists believe were used to regulate body temperature (Unknown, n. d. ). The Stegosaurs was a slow moving dinosaur whose appearance may have warned off predators, and possibly swayed its tail using the spikes to defend itself. Carnosaurs, meaning “meat-eating lizards”, were theropods who reached their peak during the Jurassic period. These carnivorous dinosaurs were bipedal, meaning they walked on two legs and they were smaller in comparison to the sauropods, however they were much more vicious. One of the most formidable carnivorous dinosaurs of this time was the Allosaurus; this was a fierce and terrifying creature that had long narrow jaws filled with very sharp teeth that could rip its prey to shreds; this dinosaur was extremely well muscled, growing to about 35 feet tall, having extremely short front legs with long sharp claws and extending from its feet were three long toes with talons similar to an eagles (Smith, 2005). Another meat-eating dinosaur that was present during Jurassic times was the Dilophosaurus; this creature sported a double crest on the top of its head (which is guessed to be either ornamental or sexual), measured about 6 meters long, stood about 8 feet tall, and was quite slender (Smith, 2005). The Dilophosaurus had “strong hind legs; forelimbs with hands that were flexible, with an opposable thumb… so he can grasp his prey… his hind legs, his feet, were armed with very powerful claws and were probably used as weapons as well as for locomotion. He was bipedal of course, and probably a very rapid runner” (Smith, 2005). One of the first dinosaurs to be found and named was the Megalosaurus, meaning “great reptile”; this large carnivore also lived in the Jurassic period and was considered to be more intelligent and could run faster in comparison to the other dinosaurs (Dinosaur Facts, 2010). Standing about 10 feet tall, measuring 30 feet long, and weighing in around a ton, this fierce hunter was equipped with a big bulky body, long legs with clawed feet, sharp claws protruding from his three-fingered hands, and big powerful jaws full of long and sharp teeth, enabling it to prey on even the largest of the sauropods (Dinosaur Facts, 2010). Only one question remains, how do palaeontologists know all of this information and where exactly do dinosaur fossils come from? One of the premier places for fossils of this period is that of the Morrison Foundation, a distinct sequence of late Jurassic rock found in the Western United States. The upper Jurassic Morrison formation is considered to be one of the most opulent sites of dinosaur faunas in the world and provides large amounts of information about the geographical and climatical terrain of that time.
The Morrison dinosaur bones were initially discovered in Cimarron County, Oklahoma close to the Oklahoma- New Mexico State line. This incredible discovery revealed initially four different types of dinosaur bones; most of which came from a single genus, Brontosaurus (Stovall, 1938). Extensive quarry operations have been carried on at the site of the first discovery; over 3,500 individual bones were collected, providing an indication of the species that made up the dinosaur community during this period including: Ceratosaurus, Stegosaurus and Camptosaurus (Stovall, 1998). One of the remarkable things about the discoveries in the Morrison formation is the excellent quality of the xhibits discovered; a new quarry for Jurassic dinosaurs was found approximately 8 miles east of Cleveland, Emery County, Utah (Stokes, 1945). “Partial remains of 19 individual dinosaurs were recovered from excavations which measure in plan about 35 by 25 feet.
The specimens are referred to species within the following genera: Diplodocus, Brontosaurus, Stegosaurus, Camptosaurus, Ceratosaurus and Antrodemus” (Stokes, pg. 116, 1945). There are several theories that have been suggested by the physical characteristics of this quarry, named after Mr. Malcolm Lloyd of Philidelphia, which could possibly explain the accumulation of bones; In Morrison time, dinosaurs may have not been any more numerous than in other periods of the Mesozoic, but their bones were excellently preserved indicating the siliceous nature of the bentonitic matrix was likely to be the reason (Stokes, 1945). “Overlying the bone bed is a 3- to 4-foot layer of almost pure bentonite containing fragments of zircon, quartz, plagioclase, mica and hematite”, which suggests volcanic activity could be responsible for the death of the dinosaurs at the site of the Lloyd quarry (Stokes, 1945). An unusual discovery in this deposit was the ratio of the carnivorous dinosaurs to the herbivorous dinosaurs which was nearly two to one; compared to most other large Morrison bone beds where the ratios are reversed indicating the carnivores to be rare (Stokes, 1945). The abnormally large numbers of the carnivores in the Lloyd quarry could possibly be explained by the scavenging tendencies of the Antrodemus; in this deposit, 10 to 11 specimens of Antrodemus were found, indicating they may have congregated and died from starvation amid the herbivores bones (Stokes, 1945). Many jaws of the Antrodemus species were so well preserved that full sets of teeth were found to be in place; this provided a tremendous amount of dental information including that of tooth growth and tooth replacement, “Antrodemus, was theoretically never left with a gap of more than one tooth’s space on each maxillary or dental bone at any one time” (Stokes, 1945). For palaeontologists, the discovery of the Lloyd quarry was much like finding a buried treasure. The upper Jurassic Morrison formation produced one of the richest fauna deposits in the world, with sediments distributed over more than 1,000,000 km? across the western region of the United States; this includes Wyoming, Colorado, Montana, North Dakota, Nebraska, New Mexico, Arizona, Utah, South Dakota and Idaho. Essentially this deposit represents “a mosaic of riverine, lacustrine and floodplain environments developed on a vast alluvial plane nourished by the debris from ancestral Rocky Mountains” (Dodson, pg. 08, 1980). It appears the flora productivity was great in order to support an abundant amount of rather large herbivores indicating that some parts of the Morrison area were at times humid enough in order lush vegetation to develop; however, this fauna lacked coals but had a plethora of oxidized sediments, and small aquatic vertebrates were scarce suggesting that water was recurrently in short supply (Dodson, 1980). Dinosaurs of the Morrison were not contained within particular depositional environments but were spread across the complete distribution of accessible habitats; this suggests that these animals were a part of a land-based and cursorial community (Dodson, 1980). One model for the Morrison suggests that the paleoenvironment had both humid and semi-arid conditions, proposing “a vast alluvial plain with a climate of high average rainfall and seasonal extremes of dryness and humidity” (Dodson, p. 211, 1980). The Morrison Formation is the most copious source of the Jurassic dinosaurs that roamed North America; dating back to the Marsh and Cope wars, the Morrison was one of the first areas where the bones of dinosaurs were discovered which reveals its long history (Unknown, 2001). The Jurassic period was considered to be the Age of the Dinosaurs. It started after the Triassic period some 260 million years ago and ended some 144 million years ago, thus spanning a gap of about 60 million years in the middle of the Mesozoic era. The climate was warm, humid, moist and stable giving rise to many new plant and fauna species; the conditions were ideal for them to live and adapt.
The abundance of plant food enabled the herbivores to develop and become huge plain dwelling animals and as they became bigger, evolution similarly adapted the carnivores to become larger and more ferocious to deal with the size of its prey. As the land animals developed, equally the climatic conditions favoured the development of marine life; this creating an abundance of fish to support the development of an increasing population of predatory reptiles. It is imperative to give credit where credit is due; without the hard work, research and studies completed by scientists and palaeontologists, we wouldn’t have such a vast amount of dinosaur history available to us. Palaeontology is divided into various sub-disciplines and can be described as the study of what fossils tell us about the ecologies of he past, about evolution, and about our place, as humans, in the world; it integrates knowledge from many different disciplines such as geology, biology, anthropology, ecology, and archaeology to give us a better understanding of the processes that have led to the origination and eventual destruction of the various types of organisms since life began (Unknown, n. d. ). References Dinosaur Facts. (2010). Jurassic Period. Accessed on 20 Feb 2010 from: https://www. dinosaurfact. net/jurassic. php. Dodson, P. , Behrensmeyer, A. K. , Bakker, R. , and McIntosh, J. 980. Taphonomy and Paleoecology of the Dinosaur Beds of the Jurassic Morrison Formation. Paleobiology 6: 208-232. Hallam, A. Crame, J. A. , Mancenido, M. O. , Francis, J. ; Parrish, J. T. 1993. Jurrasic Climates as Inferred from the Sedimentary and Fossil Record [and Discussion]. Philosophical Transactions: Biological Sciences 341: 287-296. Kazlev, M (2002). The Jurassic: The Jurassic Period of the Mesozoic Era: 200 to 146 million years ago. Accessed on 22 Feb 2010 from: https://www. palaeos. com/Mesozoic/Jurassic/Jurassic. htm.
Palmer, A. R. , Giessman, J. and Rieboldt, S. (2002). The Jurassic Period: 206 to 144 Million Years Ago. Accessed on 25 Jan 2010 from: https://www. ucmp. berkeley. edu/mesozoic/jurassic/jurassintro. html. Smith, D. (2005). Dilophosaurus! A Narrated Exhibition. Accessed on 21 Feb 2010 from: https://www. ucmp. berkeley. edu/dilophosaur/intro. html. Stokes, W. 1945. A New Quarry for Jurassic Dinosaurs.
Science 101: 115-117. Stovall, J. W. 1938. The Morrison of Oklahoma and Its Dinosaurs. The Journal of Geology 46: 583-600. Unknown. (2001). The Real Jurassic Park- Morrison and Tendaguru Formations. Accessed on 23 Feb 2010 from: https://rainbow. ldeo. columbia. edu/courses/v1001/morisson14. html. Unknown. (2005). The Jurassic Period: The Age of the Dinosaurs. Accessed on 21 Feb 2010 from: https://www. fossils-facts-and-finds. com/jurassic_period. html.
Unknown. (2010). Jurassic Period. Accessed on 20 Feb 2010 from: https://science. nationalgeographic. com/science/prehistoric-world/jurassic. html.
Unknown. (n. d. ) Dinosaurs- Herbivorous Dinosaurs. Accessed on 20 Feb 2010 from: https://science. jrank. org/pages/2097/Dinosaur-Herbivorous-dinosaurs. html.
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Secondary Succession
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Background and Business Strategy Section Major Firms of Pharmaceutical Industry
Background and Business Strategy Section Major firms of the world pharmaceutical industry
Pharmaceutical industry is characterized by high level of concentration. There are about dozen of multinational companies that dominate in industry. Most of companies are not widely diversified and more than 50% of revenues come from sales of pharmaceutical products. There are few companies in industry that have other large sources of income, for example Johnson & Johnson. The pharmaceutical industry has two distinct functions: research and development (R&D), and manufacturing. The largest and best-known pharmaceutical firms do both functions while some small companies do either of them. Another remarkable characteristic of the pharmaceutical industry is its vast investment in R&D to keep product innovation. The high rates of innovation in pharmaceutical industry result from high rates of return on investment in R&D also conversely create the incentives necessary to conduct this research. Consumer is sensitive to drug prices. If generic substitute is available it creates high pressure on pricing of product. On other side company is able to charge high premium on patented unique drug. As a whole, the industry is highly competitive, but individual products are less so due to the number of products that are substitutes for one another is constraint by different therapeutic classes. What’s more, the threat of new entrants is not significant. As it was discussed above R&D requires large funding and to compete in generic drug production you need large start up capital to reach required economies of scale. Bigger companies can allow investments in more research and development projects that diversify their future drugs portfolio and make them much more stable. Pfizer: Pfizer is one of the world's leading research-based biomedical and pharmaceutical companies. Although Pfizer is in the intensive competitive pharmaceutical industry and there are lots of competitors such as Merck & Co. , Inc and Eli Lily, it still has the number one sale in the world. Pfizer has recently grown by mergers. On January 26, 2009, Pfizer agreed to buy Wyeth for US$68 billion, a deal financed with cash, shares and loans. The merger will bring the company with the most diversified companies in the global health care ndustry, with product offerings in numerous growing therapeutic areas, a strong product pipeline, and leading scientific and manufacturing capabilities. Eli Lilly Company: Eli Lily is a world’s leading pharmaceutical Company which was founded in 1876 by a pharmaceutical chemist, Eli Lilly. Nowadays, Lilly is the world’s largest manufacturer and distributor of psychiatric medications. In order to reduce such cost, Lilly transformed itself from a fully integrated company to a global collaboration network. Lilly only adopted a prudent diversification strategy. Within the area of human pharmaceuticals, it always devotes itself into innovation which it believes could keep the company develop steadily. Merck: As a global research-driven pharmaceutical company, Merck is one of the seven largest pharmaceutical companies in the world both by market occupation and revenue. On March 2009, Merck has proposed to merge with Schering-Plough which made Merck be the 2nd largest pharmaceutical company in the world. Merck's medicines are good at treating asthmatics and hypertension. Major competitors to Merck include Novartis, Pfizer, and Bristol-Myers Squibb. Merck will seek to expand its pipeline by entering into agreements and cooperation with other companies to develop technologies to expand pipeline of potential future products. Wyeth: Wyeth, formerly American Home Products (AHP), has history of continuous acquisitions. The company operates in three segments: Pharmaceuticals business, Consumer Healthcare unit and Fort Dodge Animal Health. R&D expenses are steady increasing over years. However company faces competition from generic cheaper substitutes. In response company had to launch a cost-cutting program in 2008. This year Pfizer acquisition of Wyeth was announced; deal took place in October 2009. BMS: William McLaren Bristol and John Ripley Myers founded the Bristol, Myers company in 1887. BMS engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of pharmaceuticals and nutritional products worldwide. The main competitors of BMS are Merck, Novatis and Pfizer. The BMS’s key productivity initiatives include reducing general and administrative operations by simplifying, standardizing and outsourcing, where appropriate, processes and services, rationalizing the company's mature brands portfolio, consolidating its global manufacturing network while eliminating complexity and enhancing profitability, simplifying its geographic footprint and implementing a more efficient go-to-market model. Abbott Laboratories: Abbott Laboratories is a diversified pharmaceuticals health care company. Abbott Laboratories was founded by Chicago physician Wallace Calvin Abbott in 1888. Abbott has a broad range of drug portfolio, medical devices, diagnostics and immunoassay products as well as nutritional products. Abbott's main strategy is product differentiation. Its core businesses focus on pharmaceuticals, medical devices and nutritional products, which have been supplemented through several notable acquisitions.Cite this page
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Consumer Preferences Towards Lays Chips
Acknowledgment All the thanks to Almighty Allah, Who bestowed us with courage & ability to achieve this opportunity. We would like to thank Ms. Zainab Rehman (Course Instructor) for her continuous support and guidance she has rendered for the successful completion of this project. We have collected the data for our research through survey method and questionnaires and we are in no confusion for saying that this activity has enhanced our knowledge about the Research work. It is the result of the efforts of our respected teacher who provided us all the possible directions and information for this purpose. We hereby take this opportunity to thank all those people including our friends and colleagues who have helped us for the successful completion of this project. We express our gratitude’s towards our parents for their encouraging support, incandescent sprit and endurance towards the making of this project. In the end a special thanks to all members who are directly or indirectly associated with the project. Declarations We hereby declare that this “Research Project” and it is neither as a whole or as part have developed report entirely on the basis of our personal effort, made under the guidance of our project supervisor Ms Zainab Rehman. No portion of this work presented in this dissertation has been submitted in support of any application for any other course of any other degree program or qualification of this or any other university or institute of learning. It is further stated that whole document is as the partial fulfillment for the “Research” course in B. B. A Degree Program. We understand and transfer the copyright for this material to the department of IMS (City Campus) Multan. DEDICATION “To Allah Almighty who is the most beneficent and the merciful and who is always with us in our loneliness and in all our difficulties”. AND Our efforts on this report are solely dedicated to our loving and supportive Friends and teachers” Executive Summary: The project purports to decipher the satisfaction level as well as the preferences of consumers pertaining to the trends in snacks industry and the various flavors of Lay’s, a new range of savory snacks launched by Pepsi Co. in Pakistan. We aim to analyze the success, marketability and future growth prospects of Lay’s. Basically we intend to find out the most popular flavor of Lay’s in the market from our sample and consumer trends towards snacks. Snacks are a part of Consumer Convenience/ Packaged Foods segment. Snack is described as a small quantity of food eaten between meals or in place of a meal.
Snack food generally comprises bakery products, ready-to-eat mixes, chips, namkeen and other light processed foods Snacks as such are, a very minor part of the food processing industry. Snacks are mostly preferred by children and youngsters to fulfill their appetite for the time being. Of the wide range of snacks available, potato chips constitute a sizeable segment of the Pakistani snack food industry, according to Pakistan Info line. The potato chip market is generally an unorganized industry. Nearly all potato chip snack products are manufactured and sold locally. There is also no uniform standard for packaging, as there is in Europe, the United States and other more developed regions. Many snack foods are sold loose or packaged in poly-pouches, which may only be folded, or in some cases, stapled closed. As the Pakistani economy continues to grow, and production standards improve, many snack food companies are making significant investments into plant equipment and packaging machinery.
Pepsi Foods Ltd. , now known as Frito-Lay Ltd. , produces Pakistan’s largest snack food manufacturer’s brands, including kukure, Cheetos and Lay`s. Frito Lay’s story is an example of how American recipes were adjusted to satisfy local tastes. To study the consumer preferences towards snacks and the favorability of Lay`s chips, a survey will be conducted in Multan, Pakistan where respondents will be requested to fill a questionnaire. The data will be collected and analyzed to obtain conclusions The report carries an introduction of the company profile, detail of the methodology followed detailed data analysis and the results so obtained with the variety of graphs along with given.
History of Lay`s Chips: [pic] Lay’s is the brand name for a number of potato chip varieties as well as the name of the company that founded the chip brand in 1938. Lay’s chips are marketed as a division of Frito-Lay, a company owned by PepsiCo Inc. since 1965. Other brands in the Frito-Lay group include Fritos, Doritos, Ruffles, Cheetos and Rold Gold pretzels. In 1932 salesman Herman W. Lay opened a snack food operation in Nashville, Tennessee and, in 1938; he purchased the Atlanta, Georgia potato chip manufacturer “Barrett Food Company,” renaming it “H. W. Lay & Company. ” Lay criss-crossed the Southern United States selling the product from the trunk of his car. In 1942, Lay introduced the first continuous potato processor, resulting in the first large-scale production of the product. The business shortened its name to “the Lay’s Company” in 1944 and became the first Snack food manufacturer to purchase television commercials, with Bert Lahr as a celebrity spokesman. His signature line, “so crisp you can hear the freshness,” became the chips’ first slogan along with “de-Lay-sious! ” As the popular commercials aired during the 1950s, Lay’s went national in its marketing and was soon supplying product throughout the United States. In 1961, the Frito Company founded by Elmer Doolin and Lay’s merged to form Frito-Lay Inc. , a snack food giant with combined sales of over $127 million annually, the largest of any manufacturer. Shortly thereafter, Lays introduced its best-known slogan “betcha you can’t eat just one. ” Sales of the chips became international, with marketing assisted by a number of celebrity endorsers. In 1965, Frito-Lay merged with the Pepsi Cola Company to form PepsiCo, Inc. and a barbecue version of the chips appeared on grocery shelves. A new formulation of chip was introduced in 1991 that was crisper and kept fresher longer. Shortly thereafter, the company introduced the “Wavy Lays” products to grocer shelves. In the mid to late 1990s, Lay’s modified its barbecue chips formula and rebranded it as “K. C. Masterpiece,” named after a popular sauce, and introduced a lower calorie baked version and a variety that was completely fat-free (Lay’s WOW chips containing the fat substitute olestra). In the 2000s, kettle cooked brands appeared as did a processed version called Lay’s Stax that was intended to compete with Pringles, and the company began introducing a variety of additional flavor variations. Frito-Lay products presently control 55% of the United States salty foods marketplace Flavors Except for barbecue-flavor potato chips, which were introduced no later than 1958, up until the last 20 years, the only flavor of potato chips had been the conventional one.
Despite an explosion of new flavors, the unadorned original is still the selection of 81% of consumers. In the United States, Lay’s offers a number of flavor combinations, in addition to the classic chips. Flavored products in the traditional fried varieties include sour cream & Onion, Barbecue, cheddar & sour cream, Hidden Valley Ranch, salt & vinegar, salt & pepper, Flamin’ Hot, dill pickle, Limon (Lime) and a thicker “Deli style” chip. Canadian sellers have a number of varied flavors, with curry, ketchup, poutine, pizza, Fire’s Gravy, roast chicken, Smokey bacon, salsa, wasabi, spicy Indian masala and sea salt and pepper brands available. The marketing success of these flavors in Canada sometimes leads to a limited time offering of a flavor to the south, with the dill pickle recently appearing in the United States after a successful run. Interestingly the name ‘sour cream’ has got Lay’s into a lot of confusion in some countries. In India for instance the name was changed to American style cream and onion after consumers reported their discomfort with the idea of ‘sour’ cream In the baked products, there are classic, barbecue and sour cream & onion varieties. The kettle cooked version includes original, sea salt & vinegar, mesquite barbecue and jalapeno brands. Wavy Lay’s have original, hickory barbecue, ranch and Au Gratin flavors while Lay’s Stax offers original, sour cream & onion, cheddar, barbecue, ranch, pizza and salt & vinegar. The newest variety, Lay’s Natural has thick cut barbecue and sea salt brands.
The WOW! Brand was rebranded in 2004 as Lay’s light after the olestra formula was altered and the U. S. Food and Drug Administration allowed removal of warnings about various health consequences of the fat substitute. Outside North America, Lay’s in Greece and Cyprus are made and packed by Tasty Foods and Carina Snacks LTD, with Mediterranean flavors which include Feta cheese flavor, Tzatziki flavor, Olive and Tomato, Oregano, Sea Salt & Black Pepper and various more. There are hundreds of sub-variations of the Mediterranean line and the company performs. Another flavor sold primarily in southern Asia is called “Magic Masala. ” This flavor is very popular in India, Pakistan, and Bangladesh. Flavors featured in Thailand include Nori Seaweed, Basil, Squid, Spicy Chili Squid, Seafood and Mayonnaise, and Spicy Seafood.. Russia has “Lay’s MAX” chips (Chicken, Sour cream & Onion, Sour cream & Cheese, and Ham & cheese flavors) and some international “Lay’s” flavors plus Russian “Lay’s” flavor – Mushrooms & Sour cream, Crab and Red caviar. In parts of South America (notably Argentina and Uruguay), Lay’s flavored products are sold with the “Lay’s Mediterranean” label, and include such flavors as ham, tomato and basil, tomato Parmesan, and oregano. In Thailand there is Classic, Sour Cream & Onion, Cheese & Onion, Mexican Bar-B-Q, and And Japanese Nori Seaweed.
Flavors also come and go usually with an international theme, for example: French Mayonnaise, Balsamic Vinegar and Salt (England), Garlic Soft Shelled Crab (Hong Kong), Soy Sauce, Salmon Teriyaki (Japan), Lobster, Bacon & Cheese (America). There are currently 12 regular Lay’s flavors in Canada, though there are more, available only in certain parts of the country. The flavors available nationwide are the following: Classic (yellow), BarBQ (black), Salt & Vinegar (teal), Ketchup (dark red), Wavy Original (red), Dill Pickle (bright green), Smokey Bacon (brown), Sea Salt & Pepper (silver), Sour Cream & Onion (green), Roast Chicken (light brown) and finally Lightly Salted (bright blue). Frito-Lay and Pepsi Join: In February 1965, the Board of Directors for Frito-lay, Inc. and Pepsi-Cola announced a plan for the merger of the two companies. On June 8, 1965, the merger of Frito-Lay and Pepsi-Cola Company was approved by shareholders of both companies, and a new company called PepsiCo, Inc. was formed. At the time of the merger, Frito-Lay owned 46 manufacturing plants nationwide, had more than 150 distribution centers across the United States, and was listed on the New York Stock Exchange. Frito-Lay Today Today, Frito-Lay has more than fifteen $100 million brands:
• LAY’S
• FRITOS
• CHEETOS
• BAKEN-ETS
• RUFFLES
• DORITOS
• FUNYUNS
• TOSTITOS
• BAKED LAY’S
• SUNCHIPS
• MUNCHIES
• OBERTO
• ROLD GOLD
• GRANDMA’S
• Cookies and Quaker Chewy Bars Lays Flavors in Pakistan
• Plain Salted French Cheese
• Tomato Tango
• Masala Lays brand IN Pakistan: 1. Kurkree 2. Lays 3. Cheetos COMPETITOR ANALYSIS Kolson Business Profile: Ever Since its inception in 1942, as on today, Kolson enjoys the distinction of being one of the Pioneer food manufacturing and processing industries in Pakistan. The name of Kolson is synonymous with dynamic and innovative food products. The Philosophy of the company is based on self-commitments to offer consumers greater choice of exclusive quality products. In doing so, the company has, in true sense, evolved its own marketing style to establish a more effective relationship with consumers. Being a food manufacturing company we understand our responsibility to provide consumer high quality products and selection of best ingredients that add to the nutritional value of our products.
The whole range of Kolson products is made by using latest German, Dutch, Swiss and Italian etc latest technology and process to back prime raw materials. The raw materials are procured from the leading available sources in Germany, Denmark, Belgium and Nederland etc.
The high quality Pakistani wheat products, procured from select bunch of millers, are pivotal in determining the final outcome of high quality products. Products: Kolson is proud to be the pioneer in Pasta production in Pakistan. More than 50 years back nobody could think of Pasta as forming a food habit being an absolutely new food concept for populace of Pakistan. At present company is market leader in Pasta products such as Spaghetti, Macaroni, Lasagne, Noodles and Vermicelli. Kolson also has a leading edge in manufacturing breakfast cereals that are innovative and extremely popular among the consumers of all ages. As company hierarchy enters to the third generation, it befittingly coincides with yet another stunning product, an innovative range of high-class Biscuits. Jam Hearts, Cream Hearts, Katch and Bravo, being sandwich, crackers and traditional bakery biscuits respectively which are already fetching consumers’ recognition & appreciation because of its unique and smacking flavor and texture. [pic] Chips and Snacks Products [pic] [pic] [pic] [pic] [pic][pic] [pic] [pic][pic] Some of the company snacks and chips are not available in the market as crinkle, twinkle and snackers.
Strategies As the global economy is taking a different turn in its outlook and demand, Pakistan cannot afford to lag. Kolson is prepared to accept the challenge to be always one step ahead of changes in offing. This is our simple promise to our die-hard and prospective consumers in Pakistan and abroad. Distribution strategy: The company has the intensive distribution strategy for its products. Normally their products specially chips and snacks can easily available in the market everywhere including all kind of general grocery stores to big retail stores even in small roadside shops. Target Market: Kolson brands appeal to an extraordinarily diverse array of consumers. Our consumer segment starts from as young as one year old who starts developing a taste for snacks and goes all the way up to older age people who consume pasta and breakfast cereals as part of their healthy diet. In consumer promotions, designed to enhance the Kolson image, we therefore, try to satisfy the growing needs of all our target segments.
Pricing strategy: As the company is providing its chips and snacks in all sizes and has intensive distribution strategies therefore the prices are low and competing with their competitors on low cost leadership fundament so that every one can buy it easily. Promotional strategy: The company is aggressive in its promotional strategy as they came up with heavy advertisement campaigns and with the noticeable placement in stores and shops. Super Crisp Company profile: Back in 1982 a business firm was created with the vision to cater to the culinary requirements of the taste buds of the Pakistani nation and at the same time to uphold the qualifications, preconditions and specifications set internationally by the ISO 9001. We commenced with the crunchy product of potato chips of high quality under the brand name of “Super Crisp”. No doubt the name itself is self-explanatory. Super business profile: The company commands the world’s most advanced and sophisticated processing unit, custom built for Tripple Em by the leading American manufacturer of fully automatic and computerized snack food plants. The packing system has been provided by a leading Japanese manufacturer renowned for its extremely modern & accurate computerized weighing and packing machines. The entire processing machinery is housed in a precision-built, centrally air conditioned premises to meet highest hygienic standards.
Highly qualified & experienced food technologists are employed to run the plant. The company maintains a most modern research and test laboratory to ensure the highest international standards in quality of the products. Quality of raw materials, efforts and efficiency at Tipple Em enables us to provide the best of tastiest snack food items to you. The company offers a range of snack food items to include Potato Chips, Nimko Mix, Peanuts, corn and potato based extruded products. Nation wide availability of the products is made possible by a vast and effective distribution network. Products Products that are indirectly in competition with Lays Smart chips: Potato Chips [pic] Natural Potato Chips Plain Salted (15gm Rs 10/-) (25 gm Rs 20/-) [pic]Mr Crips Salty (18gm Rs 20) [pic]Mr Crips Spicy (18gm Rs 20) [pic] [pic] Natural Potato Chips Chilli (15 gm Rs 10/-) [pic] (25 gm Rs 20/-) [pic] Chips Salt & Vinegar (40 gm Rs 20/-) [pic] Extrusion Product [pic] Catty Chins (12gm Rs 10/-) [pic] Dino (20gm Rs 20/-) [pic] Rings (15gm Rs 10/-) [pic] Wheelo Pop (15gm Rs 10/-) Strategies Distribution strategy: Super crisp is using intensive distribution strategy for its chips. They are available from small roadside shops to all grocery and big retail stores.
Its has various flavors in the market which covers all type of taste and it has a strong distribution channel. Pricing Strategy: Super Crisp had places its prices similar to the other competitors with different size of packing.
Super Crisp has targeting all age groups with 15gm of 10 rupees and varies to 40 grams with rupees 20. Promotion Strategy: Super Crisp had aggressively when it was launched. They used television commercials as well as billboards for a long period of time. But now the promotion is limited. Problem Statement: What are the factors which constitute for consumer preference towards Lay`s Chips? ” Research Objectives:
• To study the trends in snacks industry as a part of food processing industry.
• To find out what percentage of population likes to eat snacks.
• To find out what percentage of population likes to eat Lay`s Chips.
• To find out which flavor of Lay`s is most preferred.
• To analyze the reason for the popularity of Lay`s as the most preferred snack.
• To know the satisfaction level of people who eat Lay`s.
• To find out how much people spend on Lay`s snacks weekly.
• To find out conclusions to our results. Research Design: Research design is the basic framework which provides guidelines for the rest of research process. It specifies the methods for data collection and data analysis.
The need of the research itself determines the methodology and the design of the research. The following are the components of the research design in our case of study:
• Correlation Hypothesis Testing (because we find the important variables or factors that contribute their part in varying consumer preferences towards the defined brand).
• Applied Research methodology.
• Unit of analysis is “Sample”. Research methodology: Research method is a process which is used to clear the problem faced by manager in order to take managerial decision. This process is used to solve research question. There are few steps of research methodology namely: 1. Problem identification 2. Literature review 3. Hypothesis development and relevant measures 4. Sample design 5. Data collection process 6. Data analysis 7. Conclusion Problem identification: Problem is a hindrance which manager is facing in order to get good and timely solution. We started our research in order to get solution of problem bout consumption pattern towards snacks mainly Lays. So our research studies revolve around the topic: “Consumer preferences towards Lays Chips. ” This study will be beneficial for Lays Company, marketer and consumers as well. Literature Review: Snacks are a part of Consumer Convenience/ Packaged Foods segment.
Snack is described as a small quantity of food eaten between meals or in place of a meal. Snack food generally comprises bakery products, ready-to-eat mixes, chips, namkeen and other light processed foods Snacks as such are, a very minor part of the food processing industry. Snacks are mostly preferred by children and youngsters to fulfill their appetite for the time being. In this report we intended to find out consumers trends towards Lays and its most favorite flavor among consumers. For this purpose, we focused on competitors strategies to analyze what Lays should do in order to compete and achieve greatest market share. Hypothesis Development: A. Null Hypothesis: “Consumers don`t prefer Lay`s Chips” B. Alternate Hypothesis: “Consumers prefer Lay`s Chips” Sample Design: A sample of 50 individuals is selected randomly over a population. Data Collection Process: There are two major techniques for data collection
• Primary data
• Secondary Data Primary Data: Primary data would be the main source of information in our research. In research it plays a vital role to get to the stated objectives.
Selecting an appropriate research tool to collect the accurate and precise primary data is a preliminary precaution in data measurement. For this purpose, we rely on the well formulated questionnaire. As the accuracy and relevance of data gathered depends heavily on the questionnaire, so we put extra efforts in formulating this tool. Making it sure that it spells out many functions relating to the respondent. Secondary Data: For every research, secondary data collection is very important. Without it, one thrashes out one’s research project. It solves the problem up to some extent even before research. In our research, secondary data is collected through internet and through consultation with our teachers. ANALYSIS OF DATA In order to extract the meaningful information from the data collected an analysis of data is done using pie charts, bar graphs, chi-squares etc. Hypothesis Development Hypothesis # 1 Q # 1 Do people prefer chips over other snacks? Developing Hypothesis Ho: People don`t prefer chips over snacks. HA: People prefer chips over snacks.
Level of Significance 0. 05 Type of Test Chi -square |Options |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |41 |25 |16 |256 |10. 24 | |No |9 |25 |-16 |256 |10. 4 | |Total |50 |50 |0 |512 |20. 48 | Degree of Freedom DF = k-1 2-1= 1 Critical Value 3. 84 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA Hypothesis # 2 Q # 4 Which flavour of Lay`s chips people like the most? Developing Hypothesis Ho: There is no relationship between Preference and flavor HA: There is relationship between Preference and flavor Level of Significance 0. 05 Type of Test Chi –square Options |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Plain Salted |17 |12. 5 |4. 5 |20. 25 |1. 62 | |Masala |15 |12. 5 |2. 5 |6. 25 |0. 5 | |Tangy Tomato |10 |12. 5 |-2. 5 |6. 25 |0. 5 | |French Cheese |8 |12. 5 |-4. |20. 25 |1. 62 | |Total |50 |50 |0 |53 |4. 24 | Degree of Freedom DF = k-1 4-1= 3 Critical Value 7. 82 Conclusion Calculated value is greater than the critical value so we reject HA and accept Ho. Hypothesis # 3 Q # 6 Do big names attached to the product affect your choice? Developing Hypothesis Ho: Big names attached to the product don`t affect consumer`s choice. HA: Big names attached to the product affect consumer`s choice. Level of Significance 0. 5 Type of Test Chi –square |Options |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |40 |25 |15 |225 |9 | |No |10 |25 |-15 |225 |9 | |Total |50 |50 |0 |450 |18 | Degree of Freedom DF = k-1 2-1= 1 Critical Value 3. 84 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA. Hypothesis # 4 Q # 12 Do people think it acquires a good name in the market? Developing Hypothesis Ho: People don`t think it acquires a good name in the market. HA: People think it acquires a good name in the market.
Level of Significance 0. 05 Type of Test Chi -square |Options |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |47 |16. 67 |30. 33 |919. 9 |55. 8 | |No |1 |16. 67 |-15. 67 |245. 5 |14. 73 | |Can`t say |2 |16. 67 |-14. 67 |215. 21 |12. 91 | |Total |50 |50 |0 |512 |82. 82 | Degree of Freedom DF = k-1 3-1= 2 Critical Value 5. 99 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA Hypothesis # 5 Q # 13 Would people suggest others to buy Lay`s chips? Developing Hypothesis Ho: People would not suggest others to buy lay`s chips. HA: People would suggest others to buy lay`s chips. Level of Significance 0. 05 Type of Test Chi -square |Options |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |47 |16. 67 |30. 33 |919. 9 |55. 18 | |No |2 |16. 67 |-14. 67 |215. 21 |12. 91 | |Can`t say |1 |16. 7 |-15. 67 |245. 5 |14. 73 | |Total |50 |50 |0 |512 |82. 82 | Degree of Freedom DF = k-1 3-1= 2 Critical Value 5. 99 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA. Hypothesis # 6 Q # 14 Are people satisfied with the number of flavours it has provided? Developing Hypothesis Ho: People are not satisfied with the no. of flavors it has provided. HA: People are satisfied with the no. of flavors it has provided. Level of Significance 0. 05 Type of Test Chi –square | |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |39 |25 |14 |196 |7. 84 | |No |11 |25 |-14 |196 |7. 84 | |Total |50 |50 |0 |392 |15. 68 | Degree of Freedom DF = k-1 -1= 1 Critical Value 3. 84 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA. Hypothesis # 7 Q # 15 Should Lay`s come up with more flavours? Developing Hypothesis Ho: Lay`s should not come up with more flavors. HA: Lay`s should not come up with more flavors. Level of Significance 0. 05 Type of Test Chi –square | |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |32 |25 |7 |49 |1. 6 | |No |18 |25 |-7 |49 |1. 96 | |Total |50 |50 |0 |98 |3. 92 | Degree of Freedom DF = k-1 2-1= 1 Critical Value 3. 84 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA. Hypothesis # 8 Q # 17 Does Lay`s come in a junk food category? Developing Hypothesis Ho: Lay`s come in junk food category. HA: Lay`s doesn’t comes in junk food category. Level of Significance . 05 Type of Test Chi –square | |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |9 |25 |-16 |256 |10. 24 | |No |41 |25 |16 |256 |10. 24 | |Total |50 |50 |0 |512 |20. 28 | Degree of Freedom DF = k-1 2-1= 1 Critical Value 3. 84 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA. Hypothesis # 9 Q # 18 Do people think Lay`s chips are healthy to consume? Developing Hypothesis Ho: Lay`s chips are not healthy to consume. HA: Lay`s chips are not healthy to consume.
Level of Significance 0. 05 Type of Test Chi –square | |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |44 |25 |19 |361 |14. 4 | |No |06 |25 |-19 |361 |14. 44 | |Total |50 |50 |0 |722 |28. 88 | Degree of Freedom DF = k-1 2-1= 1 Critical Value 3. 84 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA. Hypothesis # 10 Q # 21 Are Lay`s chips easily available in your area? Developing Hypothesis Ho: Lay`s chips are not easily available. HA: Lay`s chips are easily available. Level of Significance . 05 Type of Test Chi –square | |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |44 |25 |19 |361 |14. 44 | |No |06 |25 |-19 |361 |14. 44 | |Total |50 |50 |0 |722 |28. 88 | Degree of Freedom DF = k-1 2-1= 1 Critical Value 3. 84 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA. Hypothesis # 11 Q # 22 Would people like to entertain their guests with Lay`s Chips? Developing Hypothesis Ho: People would not like to entertain their guests with Lay`s chips. HA: People would like to entertain their guests with Lay`s chips.. Level of Significance 0. 05 Type of Test Chi –square | |Fo |Fe |Fo-Fe |(Fo-Fe)2 |(Fo-Fe)2/Fe | |Yes |46 |25 |21 |441 |17. 4 | |No |04 |25 |-21 |441 |17. 64 | |Total |50 |50 |0 |822 |35. 28 | Degree of Freedom DF = k-1 2-1= 1 Critical Value 3. 84 Conclusion Calculated value is greater than the critical value so we reject Ho and accept HA. Data Collection
• Close ended and open ended Questionnaires from general public. Data Analysis We have collected scientific data from general people, by questionnaires. After that we have analyzed the data by using statistical tools i. e. averages, percentages and proper graphical presentation of data has been applied. We have chosen the new technique to present the data analyzed through charts and graphs. This will make the whole analysis easy to understand and attractive. Q # 2 When do people prefer snacks time in a day? |Options |Frequency |Percentage |Cumulative percentage | |Morning |2 |4% 4% | |Afternoon |15 |30% |34% | |Evening |32 |64% |98% | |Night |1 |2% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] The graphical presentation shows that majority of people prefer snacks in evening. Q # 3 Which chips do people prefer most? The following is the frequency distribution of the people`s preference to the varieties of Lay`s chips. Options |Frequency |Percentage |Cumulative percentage | |Cheetos |6 |12% |12% | |Kurkure |14 |28% |40% | |Lay`s flavored |25 |50% |90% | |Bingo |3 |6% |96% | |Any other |2 |4% |100% | [pic] The graphical presentation shows that majority of people prefer lay`s flavored chips and the second most preferable choice is kurkure chips. Q # 5 On which places it got maximum consumer? Options |Frequency |Percentage |Cumulative percentage | |Colleges |17 |34% |34% | |Railway stations |1 |2% |36% | |Bus stops |1 |2% |38% | |Public places |31 |62% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] The chart shows that Lay`s got maximum consumers at public places and in colleges. Q # 7 What compels consumers to consume it? |Options |Frequency |Percentage |Cumulative percentage | |Brand Name |7 |14% |14% | |Quality |21 |42% 56% | |Varieties |16 |32% |88% | |Price |6 |12% |100% | |Any other |0 |0% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] The graphical presentation shows that most of the people consume the defined product due to its quality and varieties which it offers. Q # 8 How would people rate it as a product? Options |Frequency |Percentage |Cumulative percentage | |Excellent |12 |24% |24% | |Good |36 |72% |96% | |Average |2 |4% |100% | |Poor |0 |0% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] The graphical presentation shows that most of the people rated the product good. Q # 9 What size of product people prefer the most? Options |Frequency |Percentage |Cumulative percentage | |Rs. 05 |8 |16% |16% | |Rs. 10 |34 |68% |84% | |Rs. 20 |8 |16% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] The results of the above analysis show that majority of people prefer Lay`s chips pack of Rs. 10. Q # 10 How often people consume the product? Options |Frequency |Percentage |Cumulative percentage | |Very often |35 |70% |70% | |Often |9 |18% |88% | |Sometimes |6 |12% |100% | |Rarely |0 |0% |100% | |Never |0 |0% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] The results of the analysis show that 70% of people consume the product very often. Q # 11 Which members of the family prefer Lay`s chips? Options |Frequency |Percentage |Cumulative percentage | |Children |18 |36% |36% | |Parents |0 |0% |36% | |Grandparents |0 |0% |36% | |All |32 |64% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] The results of the analysis show that 64% of the total sample prefers Lay`s chips and out of 100%, 36% children like it. Q # 16 What are the people`s sources regarding the purchase of Lay`s chips? Options |Frequency |Percentage |Cumulative percentage | |Advertising |25 |50% |50% | |Live Demonstration |1 |2% |52% | |Retail Outlets |6 |12% |64% | |Home shopping |18 |36% |100% | [pic]The results of the analysis reveal that half of the sample from the population`s information regarding the purchase of the product is advertising. Q # 19 What is the most important thing people look for in a snack? Options |Frequency |Percentage |Cumulative percentage | |Taste |12 |24% |24% | |Flavor |11 |22% |46% | |Health |22 |44% |90% | |Brand Name |5 |10% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] The results of the analysis reveal that majority of people choose snacks because of healthy ingredients in it. Q # 20 Other than the product, what influences people when buying a snack? Options |Frequency |Percentage |Cumulative percentage | |Word of Mouth |7 |14% |14% | |Advertisements |16 |32% |46% | |Offers/discounts |12 |24% |70% | |Sales/service |15 |30% |100% | The GRAPHICAL REPRESENTATION of this Question is as follows: [pic] Threats to Validity:
• Respondents may not give us the exact information in the questionnaire due to the lack of interest.
Due to controversial topic respondent may have provided the biased information. Conclusion: This is the report about Lay’s its products and its competitors. Although Lay’s is a leading company in snacks, but there is always a room for improvement. So Lays should improve its quality so that it can succeed to grasp more consumers’ attention. In this report we intend to identify the consumer trends towards Lays and its competitor’s strategies to improve its market share. In addition Lays Company Should introduces some new flavors in Pakistan which are not currently available here but are available in other countries like in India. We hope you will find this report best for analysis of Lays performance. References: During the research process, besides our practical research, we also have consulted some books about our practical research for the preparation of this report in an effective manner. A list of all references, which has been consulted and the data has been derived from, are given as under: ? Class Notes by Miss Zainab Rehman, during our class lectures ? Field surveys through which data has been collected from different types of questionnaires and different areas of Multan ? https://www. lays. com ? https://en. wikipedia. org/wiki/Lay’s Appendices: Q1. Do you prefer chips over other snacks? a. Yes b. No Q2. When do you prefer snacks time in a day? a. Morning b. Afternoon c. Eveningd.
Night Q3. Which Chips do you prefer? a. Cheetos b. Kurkure c. Lays flavored chips d. Bingo e. Any other Q4. Which flavor do you like most? a. Plain salted b. Masala c. Tangy tomatod. French Cheese Q5. On which places it got maximum consumer? a. In colleges. b. Railway station c. Bus stopd. Public places Q6. Do big names attached to the product affect your choice? a. Yes b. No Q7. What compels you to consume it? a. Brand name b. Quality c. Varietiesd. Price e. Any other Q8. How would you rate as a product? a. Excellentb. Good c. Averaged.
Poor Q9. What size you prefer most? a. Rs. 05b. Rs. 10 c. Rs. 20 Q10. How often you consume it? a. Very oftenb. Often c. Sometimesd.
Rarely e. Never Q11. Who in your family prefer lays? a. Childrenb. Parents c. Grandparents d. All Q12. Do you think it acquire a good name in the market? a. Yes b. No c. Can‘t say Q13. Would you suggest other person to buy lays chips? a. Yes b. No c. can’t say Q14. Are you satisfied with the number of flavors it has provided? a. Yes b. No Q15. Do you think lays should come up with more flavors? a. Yes b. No Q16. What is your source of information regarding the purchase of it? a. Advertising b. Live demonstration c. Retail outlets d. Home shopping Q17. Does Lays come in a junk food category? a. Yes b. No Q18. Do you think it is healthy to consume? a. Yes . No Q19. What is the most important thing you look for in a snack? a. Taste b. Flavor c. Health d. Brand Name Q20. Other than the product, which of the following most influence you when buying a snack? a. Word of Mouth b. Advertising c. Offers/discounts d. Sales/service Q21. Are Lay`s Chips easily available in your area? a. Yes b. No Q22. Would you like to entertain your guests with Lay`s Chips? a. Yes b. No ———————– 3. 84 20. 485 4. 24 7. 82 3. 84 18 82. 82 5. 99 82. 82 5. 99 15. 68 3. 84 3. 92 3. 84 20. 28 3. 84 3. 84 28. 88 28. 88 3. 84 35. 28
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Financial Outcomes Paper
Capital Valuation Paper University of Phoenix FIN / 419 – Finance for Decision Making November 3, 2009 Capital Valuation Paper Companies are evaluated to determine if they are risky to invest in. There are many tools that are used to conduct this evaluation. Part of determining Wal-mart’s financial health is to analyze their debt position. This is done by indicating the amount of other people’s money being used to generate profits. Long-term debts are also a factor of Wal-mart’s financial health. Long-term debt commits a company to a stream of contractual payments over a long period of time. For instance, the more debt Wa-lmart has, the greater the risk it is to pay back its contractual debt payments and perhaps becoming bankrupt. Shareholders often pay vey close attention to the company’s ability to payback their debt. The more debt a company uses creates greater financial leverage (Gitman, 2006). The debt ratio demonstrates the proportion of total assets that the company has financed by creditors. According to Wal-mart’s annual balance sheet for the ending period of January 31, 2009 their total debt is $98,144,000, total assets $163,429,000(Yahoo, 2009). The equation for debt ratio is: Debt ratio = Total Liabilities Total Assets The debt ratio for Walmart is $98,144,000 $163,429,000= 0. 60 = 60% This means that Walmart has financed more than half of its assets with debt. This is a high ratio, thus Walmart’s degree or indebtedness as well as its financial leverage is greater. Another debt ratio is the Times interest earned ratio which is earnings before interest and taxes / interest. The times interest earned ratio for Wal-Mart is $18,435,000 / $1,900,000 = 9. 7. This looks good for Wal-Mart because a times interest earned ratio of 3 is decent and 5 is good. In an effort to determine the real value of Wal-Mart common stock, multiple evaluation tools can be used. Comparison of Price-To-Book and Price-To-Earnings ratios give insight to the value of the stock price compared to reported earnings and reported asset values (book values). By comparing the corporation’s ratios to those of the industry average and other competitors, an understanding of appropriate ratios can be determined. In the case of Wal-Mart, the following spreadsheet shows a comparison to Costco, Target, and the industry average. Compiled from Yahoo! Finance 11/2/09 From the data above, Wal-Mart’s Price to book ratio is well above that of Costco and Target. This difference shows an Wal-Mart’s common stock price is covering more debt per share than that of its competitors. A Price-To-Book ratio is not the most accurate representation of an organization, since the book values are only accounting for physical assets, and not the added value of knowledge or perceived value. Therefore a comparison of Price-To-Earnings ratios should be evaluated. The industry average of Price-To-Book ratio is at 15. 45. A ratio of 15. 45 is considered to mean that the industry or company’s current stock price is expected to give returns over the next 15. 45 years. Costco and Target both have ratios well above the industry average, while Wal-Mart’s Price-To-Book ratio falls below the industry average. Wal-Mart, valued at 14. 74 years is considered more risky than its competitors. Wal-Mart’s current common stock price should fall below that of its competitors based on these ratios. However, Wal-Mart’s stock price is actually between that of Costco’s $57. 75 per share and Target’s $49. 34 per share at $50. 28 per share. Based on this evaluation alone, Wal-Mart’s stock price is either over-priced or Target’s stock price is under-priced. To better understand the proper conclusion, Wal-Mart’s intrinsic value should be evaluated. The intrinsic value is what investors consider the company to be worth. By evaluating the expected dividends compared to the rate of return and the expected value a year out, an appropriate present value stock price can be determined. For Wal-Mart, the expected dividends are $1. 09 per share with an expected rate of return at 21%, and an expected stock value of $60. 67, Wal-Mart’s intrinsic value is $51. 04. Based on the intrinsic value of Wal-Mart’s common stock price, the corporation’s common stocks are under-evaluated by 1. 49% or $0. 76 per share. More evaluations need to be made before concluding the proper stock price for Wal-Mart, Inc. Market Price of Common Stock | | | | | |Fiscal Year Ended January 31 | | | | | | | | | | | | | | | | |2009 |2008 | | |1st Quarter |$59. 04 |$47. 84 |$50. 42 |$45. 6 | | |2nd Quarter |59. 95 |55. 05 |51. 44 |45. 73 | | |3rd Quarter |63. 85 |47. 4 |48. 42 |42. 09 | | |4th Quarter |59. 23 |46. 92 |51. 3 |42. 5 | Fiscal year ended January 31, Shareholders As of March 27, 2009, there were 298,263 holders of record of Wal-Mart’s common stock. Common stock is a security that represents one’s equity ownership within a corporation. This provides the holder with voting rights and entitles them to share any company success through capital depreciation and/ or dividends (InvestorWords, 2009). Wal-Mart has 298,263 holders of common stock and the price on the stock is currently at $49. 75 per share; $14,838,584. 25 invested within the company (Money Central, 2009). Capital valuation models are used to place a value on a particular stock. One such model that can be used is the dividend discount model (DDM). This procedure will value the stock price by using predicted dividends and will discount them back to the present value. The idea behind this is that if the value one obtains by using the dividend discount model (DDM) is higher than what share are currently trading for, then the conclusion would be that the stock is undervalued. The dividend discount model (DDM) equation is as follows: Po = DIV1 + P1/ (1 + ?? ) (Investopedia, 2009). By inputting Wal-Mart’s information into the equation, $0. 95 + $49. 75/ (1 + 0. 10) = $46. 09, the current standing on the stock is considered overvalued. Also, we can look at the dividend discounted growth model to determine the stock’s selling price. This mathematical formula is used to spot company’s who are undervalued by the stock market, but have the potential for high returns. The formula is as follows: Po = DIV1 + P1/(1 + r)2 (Business Dictionary, 2009). After inputting Wal-Mart’s information, $0. 95 + $49. 75/ (1 + 0. 10)2 = $41. 90, one verifies that Wal-Mart’s stock is overvalued. An understanding to Wal-Mart’s stock value can be accomplished by comparing the findings from debt analysis to the stock evaluation findings. It was determined by calculating the debt ratio for Wal-Mart that a significant amount of Wal-Mart’s profits are generated through other people’s money. This looks bad for the company because creditors look at this as a negative thing and the company it becomes a higher risk to invest in this company. The times interest ratio for Wal-Mart looks really good at 9. 5. After carefully analyzing the debt for Wal-Mart, it is determined that this company could be a little risky to invest in at the moment. The stock evaluation has a more mixed look for Wal-Mart. By comparing Wal-Mart’s price-to-book ratio with industry averages and competitors in the industry, Wal-Mart is lower then both the industry and its competitors. The intrinsic value of Wal-Mart’s stock is $51. 04. The dividend discount model shows that Wal-Mart’s price per share for its stock should be at $46. 09. Yahoo Finance currently lists the price of Wal-Mart stock at 50. 28 per share. Overall, the stock evaluation shows that Wal-Mart’s stock should be slightly lower then what it is. When comparing the debt analysis with the stock evaluation, it looks like Wal-Mart’s stock is overvalued. The dividend discount growth model also looks negative for the company. This model values the stock at $41. 0 per share. A debt analysis was conducted, a stock evaluation was completed, and the findings of both the debt analysis and the stock evaluation were evaluated to provide a comparative analysis. The debt analysis for Wal-Mart showed that it has a debt ratio of 60% and a times interest earned ratio of 9. 5. The stock evaluation illustrated a price-to-book ratio lower then competitors and the industry averages, a slightly higher intrinsic value for Wal-Mart at $51. 04, and a dividend discount model that shows its stock to be $46. 09. The overall comparative analysis shows Wal-Mart’s stock to be overpriced. The conclusion shows a negative outcome for Wal-Mart and its stock most likely will fall in the next few weeks. References Business Dictionary. (2009). Dividend discount model. Retrieved on November 1, 1009 from: https://www. businessdictionary. com/definition/dividend-discount- model. html. Investopedia. (2009). Dividend discount model – DDM. Retrieved on November 1, 2009 from: https://www. investopedia. com/terms/d/ddm. asp. InvestorWords. (2009). Common stock. Retrieved on November 1, 2009 from: https://www. investorwords. com/986/common_stock. html Money Central. (2009). WMT quote. Retrieved on November 1, 2009 from: https://moneycentral. msn. com/detail/stock_quote? Symbol=WMT. Walmart. (2009). 2009 Annual report. Retrieved on November 1, 2009 from: https://walmartstores. com/sites/AnnualReport/2009/. Yahoo! Finance. (2009). WMT: Competitors for Wal-Mart Stores. Retrieved from https://finance. yahoo. com/q/co? s=WMT Yahoo! Finance. (2009). WMT: Key statstics for Wal-Mart Stores. Retrieved from https://finance. yahoo. com/q/ks? s=WMT
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The Success and Failures of Reconstruction
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Adventures in American Literature
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Immigration Issues (E-Verify)
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Paper on Production and Cost Analysis
Production and Cost Analysis Please read this article and answer the questions keeping in mind the information we have covered in the textbook: Fundamentals of Managerial Economics by Mark Hirschey (at least a good paragraph for each question) Article #1: Supersizing Hits Freight World By JENNIFER LEVITZ AUGUST 15, 2010, The Wall Street Journal When Kraft Foods Inc. packs trucks with weighty items such as jars of Miracle Whip and pouches of Capri Sun juice, 40% of the rigs must leave the loading dock partly empty to avoid exceeding federal truck weight limits. Kraft says those rules force it and others to make extra trips and spend more on fuel. Now, the Illinois food giant is part of a coalition of 150 companies lobbying Congress to allow trucks that are 20% heavier on U. S. highways. Supporters of the idea say truckers could pay an extra fee to offset road repairs.
Some 19 Western governors wants Congress to allow for more giant trailers, like this “triple” tractor trailer. There is an arms race of sorts in the shipping industry—and it is prompting a backlash. Efforts are under way to supersize trucks, trains, and cargo ships as freight haulers look to move more goods in fewer trips. Driving the trend are rising fuel costs, an emphasis on reducing carbon footprints and capacity constraints created during the recession as freight movers scaled down, said Paul Bingham, managing director of transportation markets for the research firm IHS Global Insights. Road-safety officials say rigs are big enough now. “It’s insane,” said Deputy Chris Rizzo, a truck inspector for Loudon County, Va. , of efforts to increase the weight limits set by Congress in 1974. “I can actually feel bridges bouncing up and down” when trucks go over them, he said. The heavier the truck, the more the bridge bounces. ” Earlier this year, California safety regulators were alarmed when a record-setting, 3. 4-mile train—two to three times the length of a typical freight train—rolled through Southern California.
Witnesses dubbed it “the monster train” and posted videos online. It turned out to be a test by Union Pacific Corp. , which increased the length of its intermodal trains 15% in the first quarter, and was experimenting with an even longer train. Richard Clark, director of safety for the California Public Utilities Commission, said there was no otice of the experimental train, and the agency didn’t realize it would be that long. “We were surprised,” he said.
Longer trains raise concerns about blocked rail crossings, especially when emergency vehicles need to cross tracks, and about whether trains can safely make turns, he said. A Union Pacific spokesman said the company did make required federal notifications but “in hindsight, we probably should have made the courtesy call” to state agencies also. Union Pacific said the ultra-long train was a one-time test. But in an April earnings conference call, a company official said Union Pacific believes it can increase its average train length by another 10% to 15% in an effort to reduce fuel use and emissions as well as wear and tear on its tracks. Other railroads, including CSX Corp. , and BNSF Railway Co. , have also been running longer trains to improve efficiencies, these companies said. The big rigs that cruise the nation’s roadways may be getting not only heavier but longer.
Separately from the companies that are pushing for higher weights, which include Kraft, Coca-Cola Co. and MillerCoors, a group of 19 Western governors are lobbying Congress to allow for more “doubles” and “triples”—multiple trailers hitched together than can span up to 120 feet—on Western highways. Currently, most interstates allow rigs no longer than 53 feet. In general, states can individually set limits on truck size and weight on state roads, but not for federal highways. The Western Governors’ Association says longer trucks would make it easier to haul goods across vast distances in the West, which could benefit the region economically. Doubles and triples typically have to bypass federal roads and stick to state roads, sometimes forcing them to take longer routes to their destination. The governors’ group estimates that miles traveled by heavy trucks could be cut by 25% with the use of more combos. Meanwhile, new cargo vessels as long as three football fields now ply the oceans and are expected to be frequent visitors to Eastern U. S. ports starting in 2014, with the completion of the widening of the Panama Canal, the primary shipping conduit between Asia and the East Coast. They are almost 25% longer and 35% wider than today’s ships that use Eastern ports.
Ports such as Savannah, Ga. , are starting to deepen channels in preparation, though residents aren’t as eager. “Horrifying, really, really horrifying,” Toby Bronstein, a retired advertising executive who lives in Caswell Beach, N. C. , said of the ships. “They defy the imagination in terms of their size. ” Ms. Bronstein and other residents say the giant ships could change the character of coastal towns that rely on tourism. Ms. Bronstein and neighbors in coastal North Carolina recently successfully fought a megaport proposed for Southport, a city of 2,500 people. The North Carolina Ports Authority is now seeking another site for a $2 billion port big enough for the new ships. Congress this fall may considering changing the law that since 1974 has limited trucks to 80,000 pounds on interstate highways. A bill proposed by Rep. Michael Michaud (D. , Maine) would allow states to raise that limit to 97,000 pounds on interstates for trucks that have a sixth axle to compensate for the extra weight. The measure, which has an identical bill in the Senate, may be considered as part of Congress’s reauthorization of the multiyear, $286. 5 billion surface transportation law whose funding ends Dec. 31. Under the higher weight limits, Kraft could load trucks more fully, reducing trucks used by 6%, saving 6. 6 million gallons of fuel and eliminating 73,000 tons of carbon dioxide emissions annually, said Harry Haney, Kraft’s associate director of transportation planning. MillerCoors says it could transport 1. 31 million barrels of beer weekly on 7,420 trucks, a 25% reduction in rigs. Supporters say Canada, Mexico and countries in Europe adopted higher weight limits without ill effects.
Among opponents are survivors of the 2007 Minneapolis bridge collapse, public-safety officials and some truckers. The Owner-Operator Independent Drivers Association, whose members are concerned they would be forced to buy costly new rigs, said the stability of a rig is “substantially reduced on bigger and heavier trucks. ” Railroads also are working against higher weight limits since bigger trucks could take business. Sen. Frank Lautenberg (D. , N. J. ) and Rep Jim McGovern (D. Mass. ) have filed legislation to ban bigger and heavier trucks. Jane Mathis of the Truck Safety Coalition, an Arlington, Va. , group comprising truck-crash survivors and victims’ families, said her son and his wife were killed by a tractor-trailer that crashed into their car. “We don’t need bigger trucks; we need safer trucks,” she said in a statement supporting Sen. Lautenberg’s bill. Questions: QUESTIONS: 1. Describe the trends in the trucking industry.
What are the factors driving these trends? 2. Companies often use large batch sizes to achieve “economies of scale”. List the expenses that are reduced or removed by using large trucks. What are the expenses throughout the supply chain that are increased by using a large truck? Include expenses mentioned in the article, as well as other expenses that you suspect will be increased. 3. The article highlights the struggle between size and flexibility.
Describe the trade-off between the size of a shipment and operations flexibility. Why is this important? Can this trade-off be quantified? How? 4. What impact might a large shipment have on quality? What about these large warehouses might make quality worse? Better? Why? 5. Is there a break-even point for the size of these trucks where the investment is not cost justified? Refer to the textbook, how would you set up an equation to calculate this break-even point? 6. The article provides an opportunity to discuss the waste involved in using large batch sizes. What is the waste that is introduced by having large batch size? How is this waste increased as the batch size becomes larger? What strategies might a manufacturer utilize to minimize or optimize batch sizes? Evaluate your own operation based on the business you are familiar with. What portions of your operation have grown so large that waste is inevitable? How can you reduce the waste in this portion of your operation? ***************************************************************************** In addition to these questions, please provide a 2-4 page Market Structure Analysis (https://www. oup. com/uk/orc/bin/9780199296378/01student/additional/page_11. htm) for . Remember to discuss all relevant economic issues.
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Loctite Adhesive
Marketing Strategy BUS 37000 Saturday Section Bond-A-Matic Product Marketing Plan Partha Srinivasan “I pledge my honor that I have not violated the Chicago GSB Honor Code during the Preparation of this assignment. ” Bond-A-Matic Marketing Plan Executive Summary With the introduction of a unique low-cost adhesive dispensing product named as Bond-A-Matic (BAM), Loctite Inc is seeking to resolve dispensing issues such as clogging in smaller adhesive bottles. As a leader in development of high-performance adhesives and sealants for industrial and consumer applications, Loctite has a mission to become the premiere worldwide marketer of instant adhesives for industrial use by 1985. By increasing product awareness & brand recognition for Super Bonder, a CA adhesive product line, Loctite has improved sales revenue in 1978 over the previous year’s sales. With the idea of complementing Super Bonder, Loctite is hoping to expand adhesive dispensing equipment sales by introducing this new product. Bond-aMatic will be positioned as the low cost dispensing equipment for Super Bonder adhesive users. Situation Analysis CA sales were increasing at a rate of about 20% annually (twice the total adhesive market growth) and industrial adhesive use is outgrowing consumer market.
Also based on a market research survey in 1977, it is found that 60% of purchasers bought less than a pound of CA adhesives while 55% of sales volume accounted for by small firms with fewer than 20 employees. By solving some of the problems (such as clogging) in dispensing adhesives, Loctite can improve its sales of industrial use CA adhesives. The current situation is further analyzed in detail in terms of consumer behavior, competition, Loctite’s core competencies & SWOT analysis for Loctite (see appendix A, C for information). Objectives for Bond-A-Matic Launch The launch of Bond-A-Matic product will be guided by two primary objectives 1) to catalyze Super Bonder sales with the help of complementary dispensing equipment in order to achieve corporate goals 2) To create a market for low cost high precision adhesive equipments by offering attractive price point for small firms. Plan of Action Product Strategy The main emphasis of Loctite’s product strategy is to create a high-quality, anti-clogging low cost product. The low pressure model was originally designed for Super Bonder 420 and 495. However, since this model can also handle Super Bonder 430 and 414 models, we will label the model to handle all 4 Super Bonder products. This could help with getting maximum contribution from the model that has lower material cost ($75). For the high pressure model, we can charge it a little higher premium (to breakeven for the additional material cost) and label it as the primary model for Super Bonder 416 but to also work for Super Bonder 430 & 414 products. Since many users (about 71% purchasers per Exhibit 3) use instant adhesives for only one application, this product labeling strategy should not significantly limit sales for High pressure model. The Gluematic tip is used to bond rough surfaces such as metals & plastics while the Vari-Drop applicator with needle is used for soft surfaces such as rubber. So including both Gluematic tip and Vari-Drop applicator in the package makes it convenient for consumers for ready to use for both surfaces. In addition, Loctite can also sell the applicators as replacement accessories.
Loctite should include a self-training kit & user manual along with an attractive packaging. We will subcontract the parts assembly work to third party to reduce costs. Since BAM can also be used to dispense a broad range of adhesives, future product strategy should be to make BAM usable for dispense all adhesive products (as it’s already capable to dispense many adhesives). Promotion Strategy Loctite should target small firms and include other SICs such as 75, 76 as these industrial segments seem to have very high % of user establishments that use instant adhesives.
The following promotion ideas should be considered: 1) Advertise Bond-A-Matic in magazines targeting small firms and specific industries. The focus should be to advertize BAM as a ‘Product that fits small firm needs’ instead of marketing it just as a ‘low cost solution’. This strategy would reflect better on the Loctite brand and would not jeopardize existing equipment (sold to large firms) sales. ) Combine BAM advertisements with the Super Bonder adhesive advertisement. This would help to promote joint sales as well as help reduce advertisement costs. The selling point for small firms is low cost equipment that optimizes use of high quality adhesive and reduces total cost. By eliminating clogging, providing faster application and reducing assembly errors (Exhibit 8), BAM will be positioned as the product that reduces mess and helps small firms save on labor and adhesive costs (more under pricing strategy). 3) Include brochures on Bond-A-Matic with 1 lb packages of Super Bonder adhesives with 10 packs of 1 oz Super Bonder bottles.
Include product information highlighting benefits such as anti-clogging, no mess/waste (and others in Exhibit 8), a response/ordering card with discount coupons. Sales personnel could follow up any leads that come from brochure response. 4) Include one year limited warranty (include warranty registration card) instead of 30-day free trial to reduce return expected costs. This plan would also go well with the Loctite brand image. ) Offer bulk purchase discounts and build proper incentives to sales force to persuade distributors and end users to avail this promotion. 6) Train sales team to determine the correct model and best fit for intended applications. Also provide them priority of sales (Super Bonder vs BAM) based on profitability of the product rather than sales generated from a given product. 7) Incentivize distributers to stock and sell BAM by providing a high profit margin (more detail under distribution strategy). Provide POP displays and other promotional material to the distributors and pursue them to actively work with plant and production engineers in the clientele. Pricing Strategy As explained under Product Strategy, low and high pressure models are priced differently to maximize contribution. We cannot do a value pricing based on the benefits as we do not have any quantifiable information about the benefits of using BAM. Though many industrial users are price insensitive (about 81% of surveyed users per Exhibit 3), we are not sure whether a higher price for the product would be attractive enough for small firms. So proposed pricing in Exhibit 10 is not changed but instead all the accessories will be packed with BAM and priced together. If we add Gluematic tip, Vari-drop applicator and needle prices to the base price of $175 for BAM, the final price to end user would be around $199. At this price, the unit contribution towards fixed costs/profit would be about $88 via direct sales (drop shipment) and $58 via distributors giving 25% commission to distributors (see Appendix A-Price for more details). The high pressure model could be priced at $228 to make up for higher costs to provide a unit contribution of $85 via direct sales and $51 via distributors (see Appendix A-Price for detailed pricing information). By keeping the prices for both low pressure model ($199) and high pressure model ($228) below capital expense limit of $250 allowed for plant & production engineers, quick purchasing decisions could be made by plant and production engineers without the need to involve design engineers and purchasing staff.
Distribution Strategy Loctite will take full advantage of its excellent relationship with the existing distributors. Since 62% of the adhesive users purchase instant adhesives via distributors (exhibit 3) and about 50% of Super Bonder sales are done via distributors, using the current selective distributors for BAM sales should work fine. Since the BAM is low maintenance equipment that provides an equal profit margin as adhesives (about 25% RefPage 4), Loctite should be able to convince distributors to carry BAM. Also Loctite has to create training programs along with promotional material and display materials for distributors to help them sell BAM more effectively. In addition to sales via distributors, Loctite should perform direct sales for customers requesting via mails. In the future, if Loctite expands the BAM product to all adhesives, having a broader distribution with retail channels, more specialized distributors etc would be ideal. Costs and Budget Assuming Loctite targets SICS 35-39 & SICs 75-76 there will be a total available market size of around 103K user (current & potential) establishments. Several assumptions are made (see Appendix B-Assumptions) such as the following: The market demand for low pressure & high pressure models are assumed to be equal (i. a potential firm would buy either low or high pressure model). So the average BAM price & cost are calculated as averages between low pressure and high pressure models for calculation simplicity.
The sales via distributors are assumed to be 80% and the remaining 20% via Loctite direct sale (with 10% drop commission to distributors). Also advertisement costs are assumed to be 20% of the proposed cost given in Exhibit 11. By selective magazine advertisements and combining with Super Bonder advertisements, the advertisements cost is assumed to be reduced. The number of sales calls generated via advertisements/other means is assumed to cover about 10% of the potential market size. Sales visits will be made only to the 285 distributors to reduce sales expense. Below is the short summary of the sales projection (detailed calculation, assumptions in Appendix B): Based on the calculations, Loctite will be able to break even after 3rd year and make profits from BAM product. Competitive reaction Based on the available information, the competitors for the dispensing equipment are small firms and do not have the required sales force/distribution channels. So Loctite does not have any significant competitor threat for equipment sales in the near future. However, larger adhesive competitors such as 3M could enter this market and compete aggressively on price and other benefits.
Loctite has to actively monitor the competitive landscape and make sure their product strategy would meet the competitive challenges. As mentioned earlier, Loctite should consider broader distribution to reach out to retail channels as well as extend product sales to all adhesives to reduce the threat due to competition and any other unfavorable conditions in the future. Action Programs This marketing plan is focused on the product positioning & promotion strategy to market the BAM product. These changes can be immediately put into place.
The sales staff will have to support this initiative by discussing and explaining these changes to distributors. The promotion strategy will require at least 3-4 months acquiring the necessary brochure preparation, revised packing and designing POP displays. Controls and Revisions In order to ensure proper implementation of the plan, constant monitoring and control of the marketing activities is needed. Sales and market share analysis will be performed each quarter to evaluate customer penetration, loyalty, distribution channel performance to identify any shortcoming in product positioning, pricing, advertisement strategies. Loctite also has to monitor the impact of CA adhesive sales & other dispensing equipment sales due to BAM introduction.
Customer data would be acquired from the distributors and consumer behavior needs to be analyzed. Similarly, customer and distributor surveys at regular intervals should keep Loctite abreast with the latest consumer/distributor demands and product perception amongst the consumers. While it is anticipated that the actual market and sales results will deviate from the target, proper monitoring mechanisms will help understand the deviations and help refine the targets. Comprehensive data on consumer and supplier demands will be used to reduce BAM product costs, by using just-in-time inventory management, lean manufacturing and improved economies of scale with better negotiated/reduced costs. Future Recommendations For future, it is recommended to evaluate a broader launch strategy by selling BAM to be usable for all dispensing adhesives (not just CA) and selling it via retail channels. Currently Super Bonder has good sales revenue (3. 44M) but the profit margin seems to be low (18%) at $620K. Having a broader distribution network and reaching out all profitable SICs through focused marketing would help to improve net margin as well as help Loctite achieve its objectives. Case for No-Go Decision There are several issues that pertain to the business case and value proposition of the BAM product.
Firstly, Sales force expressed the difficulties of assembly line workers for dispensing during 1977 sales leadership conference. However, Loctite seem to have addressed this issue in FY 1978 itself. As a result of market research study, Loctite introduced a built-in applicator allowing greater dispensing control for 1 ounce SB bottles. Unless there was a follow up survey to understand whether this change satisfied the dispensing needs, there is no sufficient justification to introduce this product to address the same issue. Also, this product request is only initiated from assembly workers point of view. So we need to know whether other industries will have similar issues for dispensing to make this a viable product to make. So a much more thorough analysis of the market needs should be performed before introducing this product. Even if we plan to introduce this product targeting small firms, the projected sales (see Appendix B) does not provide a compelling ROI to make such an investment.
Further, it also introduces new risks of cannibalizing more expensive dispensing equipments if the current equipment consumers perceive this product just as a low cost alternative. There were also concerns about BAM’s impact on Loctite’s and Super Bonder’s brand image. Moreover, the benefits from using BAM are not clearly quantified to justify the value for to persuade small firms to make this capital investment. The advertisements for Super Bonder were successful partly due to the quantifiable comparison (Exhibit 6, 7) with the competing product/technology. BAM missing such valuable marketing appeal makes it harder to market and convince customers/distributors. For an effective & aggressive advertising campaign, there should be sizable market with a potentially higher penetration prospective. BAM product’s total market reach is not clear since the CA adhesive market is fragmented and very diverse. Also it may be too expensive to reach all the potential consumers to make a successful launch.
Based on Exhibit 3, about 60% of the purchasers buy less than one pound and another 29% buy only 1 to 9 pounds annually. So, it would be hard to convince such low quantity adhesive purchasers to be interested in dispensing equipment unless there is a quantifiable annual savings using the equipment. Even with such savings, unless the CA adhesive usage level increases to a higher level, the need may not be very pronounced to make BAM an attractive product. Also, in terms of product development cycle, some key steps such as business analysis (as mentioned above) and test marketing are missing which are absolutely necessary before launching such as product (see Appendix D). Based on the above mentioned issues, it can be concluded that unless we have more detailed information on the product needs and a concrete business case, there is a serious risk of failure for launching the BAM product. Partha Srinivasan Appendix – A 5Cs & 4Ps Company Loctite sold over 300 adhesive products and has established itself as a market leader in high-performance adhesives and sealants for industrial and consumer applications.
With approximate sales revenue of $22. 4 million (70% revenue out of $32M) from selling anaerobics and CA adhesives, Loctite held a dominating 85% NA anaerobic market share in 1978. Loctite has established an internal goal of increasing Super Bonder sales by 31% ($3. 44M to $4. 5M) and market share of 35% in 20-39 SICs. Further, Loctite held 50% dollar market share of an approx $2. 9M market. Loctite held a premier brand image and was known for high quality products and was able to command premium prices among both distributors and end users. BAM provides an opportunity for Loctite to expand the breadth of its adhesive equipment products and develop strength in adjacent competencies for Loctite. Consumers Automatic adhesive dispensing equipment is generally used by large firms. During a 1978 survey, 51% of users expressed interest in improving dispensing technology. Loctite responded with a built-in cap applicator improving dispensing control for standard 1 ounce bottles.
Though the user satisfaction feedback is not available, BAM was developed to address the frequent adhesive clogging issue for assembly line workers. About 10% of the firms were concentrated within 16 SICs groups. About 55% of the instant adhesives were bought by small firms though in very small quantities and many of them used adhesives for only one application. More consumers were price insensitive (current & potential) but considered technical support is very important. Competitors While there were some significant competitors in the adhesive market such 3M (anaerobics), Eastman, National Starch and Chemicals Inc (CA market), adhesive equipment market did not have any significant competitors. Though the competitor products were quite cheaper (about $240) when compared to Loctite’s products (cheapest product, 200 console plus applicator at $725), competitors were small in size with limited marketing resources. BAM should be priced so that it would not be cannibalize but complement Loctite’s current product line and compete at lower end segment. Collaborators Loctite worked with its distributors to sell over 50% of their Super Bonder adhesives. A large number of its distributors sold diverse range of products and supplied to machinery and equipment manufacturers.
Loctite also had very good relationship with distributors and held very effective training programs. Due to these reasons, Loctite was able to command premium prices among distributors and end users. Loctite was using a selective distribution strategy (working only with 285 distributors out of 10,000 distributors nationwide) as it elieved that its distributors had good market coverage and provided a superior service. Some officials were concerned about their current distributor’s ability to work with the correct person to work with on the end user firm and called for a broad distribution approach.
Context The market for CA adhesive is growing at rate of 20% every year, with total adhesive market at about 10%. The need for adhesives in the industrial segment is growing faster than the consumer segment but industrial segment is more vulnerable to economic downturn. CA adhesive market is wide spread and fragmented than the anaerobics market. A large volume of CA adhesives were bought by smaller firms. Product The Bond-A-Matic product was developed in response to the sales leadership conference finding that assembly line workers had difficulties in dispensing CA from one-ounce and smaller bottles. The product was developed to leverage from the year’s innovative Gluematic pen’s tip applicator which facilitated precise adhesive placement to prevent clogging. The product had several benefits (highlighted under Exhibit 8), but none of the benefits were quantified. Price The proposed price of $175 for the BAM is targeted to provide a low cost solution for dispensing problems in small bottles. Loctite is skeptical about the impact of low price on Super Bonder brand image and sales of other products.
But this low price also provides an opportunity for quick purchase decisions for plant and production engineers as the capital cost is less than $250. Also this low price makes this product attractive for small firms that do not typically buy dispensing products. Though we do not know how to quantify the benefits for BAM, we know that the replacement cost would be relatively low. For instance, a single Gluematic tip (costing $1) can be used for atleast 40 ounces of Super Bonder (good for 12,000 dot applications). Below is the summary for BAM & accessories prices along with the newly proposed price for BAM package, and the current pricing model for existing dispensing equipments.
Place Consumers purchase adhesive mostly via distributors (about 60%), retailers (about 35%) and a little directly from the manufacturers. Loctite has a small but strong distribution network to sell its products. Promotion BAM product is targeted to sell along with Super Bonder which was heavily advertized in 1978(with about 30% advertising costs). This helped Loctite to improve Super Bonder sales from 62K pounds to 92K pounds. Though advertising was an excellent tool to spread the product awareness, it is expensive. So advertising should be kept at a minimal level until enough revenue is generated to sufficiently increase marketing (for instance, when broader distribution is planned). Therefore the BAM product is planned to sell mostly via distributors and direct sales (received via responses to brochures included in the Super Bonder package and other means). Appendix – B Diffusion Model for Revenue and Costs Prediction Because of the scatted customer distribution and customer possible reluctance to accept a new product the p and q values in the diffusion model are set at 0. 01 and 0. 5 respectively. Assumptions The potential market size for a given SIC is calculated based on the % of User establishment + Additional % of Potential User establishments multiplied by the number of user establishments for that SIC. Assuming Loctite targets SICS 35-39 & SICs 75-76, we will have a total market size of around 103K user (current & potential) establishments to sell both low pressure & high pressure BAM models. P is assumed to be really low since the small firms were not used to buying dispensing equipment and large firms usually bought the high-precision equipment with adjustable pressure regulator.
The demand for both low pressure and high pressure BAM models are assumed to be equal. So the average price is calculated as an average between low & high pressure models. Distributer sales assumed to be 80% and remaining via direct sales. Distributor sales commission for direct sales is calculated as 0. 80*0. 25 = 0. 20, distributor commission for drop sales is calculated as 0. 20*0. 10 = 0. 02 Only new sales calculated(i. e no equipment replacement sale and accessory replacement sales figures are considered) Sales personnel need to visit each distributor (total 285 distributors) yearly Sales calls assumed to be made atleast to 10% of the potential customer base Advertisement costs are assumed to be reduced to 20% of the proposed $51K by reducing number of advertisements on magazines and combining them with Super Bonder advertisement. Appendix – C SWOT analysis Strengths Leader in high-performance adhesives and sealants for industrial and consumer applications (85% market share in anaerobics) Strong distribution network and excellent training programs Strong brand image and known for selling premier products Opportunities Untapped market for small firms Improve marketing strategy for maximize product reach Weaknesses Least market knowledge on CA adhesive user behavior Little focus on adjacent competencies such as adhesive equipment sales Selective distribution nhibiting growth Niche (only high price) products that can be impacted during tough economy. Threats New players such as 3M in anaerobics due to low capital to entry and expiration of patents Fragmented CA market can lead to lower profit margins. Appendix – D Analysis of the new Product development Process for Bond-A-Matic Idea Generation: During 1977 Sales Leadership Conference, several salespeople highlighted difficulties of assembly line workers in dispensing CA from standard one ounce & smaller bottles. A FY1977 survey of CA industrial users also confirmed that a number of users were interested in improving dispensing technology. Idea screening: BAM is envisioned as a low cost adhesive dispensing system that leveraged from the innovative Gluematic tip to prevent clogging and mess around the assembly line.
Initial development: After extensive testing, 2 BAM models were developed to address high & low viscous adhesive products. Also some preliminary tests were conducted to confirm the faster operation (apply a dot of adhesive every 3 seconds) and tip durability (usable for about 40 lbs of adhesives). Marketing strategy development: Loctite was trying to understand the ideal target market segment, whether to productize both models, what accessories (Gluematic tip, Vari-drop applicator) to package with BAM. Loctite was also debating about low pricing and promotions such as 30-day free trial or 1 year warranty. It was also trying to analyze the need for an aggressive advertising via magazines, use its own sale force or do telemarketing. It was also considering direct mailing as an alternative for magazine advertisements. Business Analysis: There is not a lot of business analysis done to understand the business case for BAM. Loctite was concerned whether BAM would stimulate or cannibalize current sales and whether broader manufacturing would be possible. Without proper market segmentation analysis via market research and via market surveys, it would be hard to analyze the business case. Product development and market testing: There was no prototype testing or market testing before the launch. So there was very little knowledge on the market acceptance for this product. Commercialization: Loctite is considering commercialization early 1979 based on the marketing plan. It is evaluating impact on other products, pricing impact, quality assurance and advertising factors to make a decision on launching the product.
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Trader Joe’s
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Columnar Transportation
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Asian Immigration to the USA
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Cyber Terrorism and Cyber Crime
CERTAINTY OF CONTRACT There are two aspects to the issue of uncertainty. (1) The language used may be too vogue in which case, the court is likely to hold that there is no concluded agreement , the contract is void for uncertainty. (2) Failure to reach agreement on a vital or fundamental term of an agreement. SECTION 30 1. Agreements, the meaning of which is not uncertain, or capable of being made certain, are void. * If A agrees to sell to B ‘a hundred tons of oil’ , there is nothing whatever to show what kind of oil was intended and thus , the agreement is void for uncertainty. . Where the meaning is unclear but it is capable of being made certain, the agreement is not void for uncertainty. * A agrees to sell to B ‘one thousand gantangs of rice at a price to be fixed by C’. As the price is capable of being made certain, there is no uncertainty here to make the agreement void. KARUPPAN CHETTY v SUAH THIAN In Karuppan Chetty v. Suah Thian (1916) 1 F. M. S. L. R. 300 , the contract was declared void for uncertainty because the parties agreed to lease of $35 per month ‘for as long as he likes’. The terms are uncertain as the duration of the lease is not specified or capable of being made certain. Free Consent To form a valid contract, it is important that parties agree to contract freely and without any form of force or external influence which clouds a person’s mind. SECTION 10 * All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object are not hereby exspressly declared to be void – Free consent is the basis of a contractual relationship. There must be a meeting of the minds as to the nature and scope of the contract, a consensus ad idem. – The consent of the parties must be given freely and voluntarily. SECTION 13 * Two or more persons are said to consent when they agree upon the same thing in the same sense. SECTION 14 * Consent is said to be free when it is not caused by: – coercion – undue influence – fraud – misrepresentation – mistake EFFECT OF VOID AND VOIDABLE CONTRACT * According to section 2 (g), an agreement not enforceable by law is said to be void. When the agreement is void, no rights are given to the parties, and no obligations are imposed on them. * An agreement which is void has no legal effect ab initio * According to section 2 (i) states that an agreement not enforceable by law at the option of one more of the parties thereto, but not at the option of the other or others, is a voidable contract. * In a voidable contract, one of the parties is given the choice, either to continue the contract or to discontinue the contract.
The agreement is valid and binding until the party who is entitled to rescind the contract chooses to do so. * When the party who is entitled to rescind a voidable contract exercises his option to rescind the contract, the consequence is as stated in: SECTION 65 * When a person at whose option a contract is voidable rescinds it, the other party thereto need not perform any promise therein contained in which he is promisor. The party rescinding a voidable contract shall, if he has received any benefit thereunder from another party to such contract, restore he benefit so far as may be, to the person from whom it was received. * On the other hand, the consequence of a void contract is stated in: SECTION 66 * When an agreement is discovered to be void, or when a contract become void, any person who has received any advantage under the agreement or contract is bound to restore it, or to make compensation for it, to the person from whom he received it. * If the contract is void, there is no option to proceed with the contract. The contract must come to an end and whatever benefits received therefrom must be restored to the party who gave the benefits. COERCION * According to the section 15, coercion is the committing, or threatening to commit any act forbidden by the Penal Code, or unlawful detaining or threatening to detain any property. * Examples of an act forbidden by the Penal Code are causing grievous hurt, kidnapping, criminal force and assault, rape. The effect of a contract entered into as a result of coercion is that the contract is voidable. According to the section 19 (1), when consent to an agreement is caused by coercion, fraud, or misrepresentation, the agreement is a contract voidable at the option of the party, whose consent was so caused. KESARMAL/O LETCHMAN DAS v VALIAPPA CHETTIAR A transfer of property which was made under the order of the Sultan, issued in the ominous presence of 2 Japanese officers during the Japanese occupation of Malaysia was held to be not valid. This is because, the consent given was not free and therefore the transfer became voidable at the will of the party whose consent was so caused. UNDUE INFLUENCE * This happens where one of the parties to a contract, entered into such contract by influence of the party who was able to influence him. SECTION 16 (1) A contract is said to be induced by “undue influence” where the relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other and uses that position to obtain an unfair advantage over the other. RAGUNATH PRASAD v SARJU PRASAD In this case, the court held that 3 matters are to be dealt with under: SECTION 16 (3) The relations between the parties to each other must be such that one is in a position to dominate the will of the other * The issue whether the contract has been induced by undue influence * The burden of proving that the contract was not induced by undue influence lies upon the person who was in a position to dominate the will of the other PRESUMPTION OF DOMINATION * In certain circumstances, a party is deemed by law, to be in position to dominate the will of another SECTION 16 (2) (a) and (b) In particular and without prejudice to the generality of the foregoing principle, a person is deemed to be in a position to dominate the will of another: * Where he holds a real or apparent authority over the other, or where he stands in a fiduclary relation to the other * Where he makes a contract with a person whose mental capacity is temporarily or permanently affected by reason of age, illness, or mental or bodily distress * By virtue of section 16 (2) (a) and (b) there are 3 situations in which the law presumes domination of will to exists: * When one party holds a real authority over the other Where one party stands in a fiduclary relationship to the other * Where a party makes a contract with a person whose mental capacity is temporarily or permanently affected by reason of age, illness or mental or body distress * In such situations, the plaintiff does not have to prove the contract being unconscionable * If the dominating party claims that there is no domination of will, the burden to rebut the presumption of domination lies on him by giving evidence to the court * The effect of undue influence in a contract is that the contract is voidable as stated: SECTION 20 * when consent to an agreement is caused by undue influence, the agreement is a contract voidable at the option of the party whose consent was so caused. Any such contract may be set aside either absolutely or, if the party who is entitled to avoid it has received any benefit thereunder, upon such terms and conditions as the court may seem just. SALWATH HANEEM v HADJEE ABDULLAH The plaintiff’s husband made a conveyance of property belonging to himself and the plaintiff to his brother’s B and C. The plaintiff initially agreed to the conveyance but after her husband’s death, she brought an action seeking to set aside the agreement on the ground of undue influence. It was held that a confidential relationship existed between the plaintiff and B and C. Therefore the burden of proof was on B and C to show that the plaintiff fully understood the agreement and had agreed to the conveyance freely and without being subject to undue influence.
Since both B and C failed to discharge the burden, the contract of conveyance was set aside. FRAUD * According to the SECTION 17 is includes any of the following acts committed by a party to a contract, or with his connivance, or by his agent, with the intent to deceive another party thereto or his agent, or to induce him to enter to the contract. DERRY v PEEK It was decided by the court in this case that fraud is proven when it is shown that false representation has been made either: * Knowingly * Without belief in its truth * Recklessly, careless whether it be true or false ELEMENTS OF FRAUD * There must be a false representation The representee must have relied on the repsentation WEBER v BROWN Plaintiff sued Defendant for damages in respect of an alleged false and fraudulent misrepresentation relating to the number of rubber tress on an estate which he purchased. The number of trees represented was more than that which actually existed on the estate. It was that the Defendant had made the alleged misrepresentation falsely and fraudulently MISREPRESENTATION * It is a false statement made by the representor, and which such false representation induces the other party to enter into a contract.
According to SECTION 18 misrepresentation includes: * The positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be true * any breach of duty which, without intent to deceive, gives an advantage to the person committing it, or anyone claiming under him, misleading another to his prejudice, or to the prejudice of anyone claiming under him * causing, however innocently, a party to an agreement to make a mistake as to the substance of the thing which is the subject of the agreement ELEMENT OF MISREPRESENTATION * There must be false representation, either through a positive statement or some conduct * The representation must be one of fact, not a mere expression of opinion * The statement was addressed to the party mislead * The representation must induce the mislead party to enter into the contract * The party misled must prove that he was induced by the representation * He cannot be said to have been induced by the representation did not influence his mind at the time of entering into the contract or he was aware hat the statement was untrue. EXPLANATION SECTION 19 A fraud or misrepresentation which did not cause the consent to a contract of the party on whom the fraud was practiced, if the representation to whom the misrepresentation was made, does not render a contract voidable. ILLUSTRATION (b) to SECTION 19 A, by a misrepresentation, leads B erroneously to believe that 500 gantangs of indigo are made annually at A’s factory. B examines the accounts of the factory, which show that only 400 gantangs of indigo have been made. After this, B buys the factory. The contract is not voidable on account of A’s misrepresentation. * The effect of misrepresentation in a contract is that the contract becomes voidable as provided in SECTION 19 (1) * If the mislead party chooses to affirm the contract, he is entitled to damages as provided under SECTION 19 (2): * A party to a contract whose consent was caused by fraud or misrepresentation, may, if he thinks fit, insist that the contract shall be performed, and that he shall be put in the position in which he would have been if the representations made had been true. MISTAKE SECTION 21 * Where both the parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. For a mistake to be operative under this section, it must be mistake of both parties and it is as to a matter of fact essential to the agreement * The basis for rendering agreements void under SECTION 21 is that there has been no free consent between the parties * Mistake can either be mutual mistake or unilateral mistake * SECTION 21 covers mutual mistake : both parties to an agreement are under a mistake * Mistake of fact essential to the agreement may occur in the following circumstances : a) Mistake as to the existence of the subject matter of the contract * Both parties are unaware that the subject matter of the contract has ceased to exist A agrees to buy from B a certain horse. It turns out that the horse was dead at the time of the bargain, though neither party was aware of the fact. The agreement is void. b) Mistake as to the identity of the subject mistake * Both parties are at cross-purpose, therefore, in fact, there is no agreement on the same thing in the same sense and in other words, no consent RAFFLES v WICHELHAUS 2 parties contracted for a sale of a cargo of cotton arriving in London by a ship called “The Peerless” sailing from Bombay.
But unknown to both parties, there were 2 ships of the same name leaving from Bombay at different times. They were both negotiating under a mistake and had in mind different ships, It was held that the contract was void for mutual mistake. c) Mistake as to the possibility of performing the contract BROTHERS LTD v OCHSNER SHEIKH The appellant granted to the respondent, licence and authority to contract and manufactured all sisal growing on 5000 acres of land in Kenya, and to deliver to the appellant 50 tons per month of sisal fibre for sale. Respondent was then unable to do so as the leaf potential of the sisal was not sufficient to produce that much. It was held that there was a mistake as to the possibility of performing the contract. The agreement was void. MISTAKE AS TO DOCUMENT The general rule is that a person is bound by the terms of the contract that he signs as laid down in an English case: L’ESTRANGE v F. GRANCOLS. SUBRAMANIAM V REKNAM The defendant had signed a written acknowledgement in the English language of a loan when he was ignorant of the language. The court applied the general rule that he is bound by what he signed, seeing that there was no fraud or misrepresentation.
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Chocolate Industry in India
Summary “An Analytical Study of Chocolate Industry in India with Special Reference to Cadbury’s India” is a sweet CHOCOLATE story of chocolates in the hot and humid plains of INDIA, which enlightens us about the size & status of chocolate industry in India. The project gives information about the competitors, their market share, and their product basket and highlights success features. The project also presents data on types & categories of chocolates, a brief study of chocolate manufacturing process The project also covers a brief study of Cadbury’s India Limited – the biggest player in the Indian Chocolate Industry with reference to its presence, market share, product offerings, marketing strategies, strengths & weaknesses, success factors and Worm Controversy Management.
Also, the implication of pricing, distribution strategies and impact of external environment has been recorded. The project throws light on problems and challenges of the Indian Chocolate Industry, growth opportunities and strategies to be adopted for growth in this industry. Finally, the project gives information about home-made chocolates and Chocolate Boutiques and the ways in which Indian consumers and Chocolate players are experimenting and innovating chocolates and giving the Indian Chocolate Industry a new sweetness. Table of contents Sr. No Topic Page No 1 Project Objective 6 2 An Overview of Chocolate Industry in India 8 3 Types of Chocolates 12 4 Categories of Chocolates & Form of Consumption 14 5 Chocolate Manufacturing Process 15 6 Market Size (by value & by volume) 16 7 Major Players & their Market Share 17 Cadbury’s India Limited – A Study 18 9 Cadbury & The Worm Controversy 37 10 MARKETING – PROMOTION of CHOCOLATES in INDIA 46 11 Nestle India 50 12 Amul (GCMMF) 53 13 CAMPCO 59 14 Home-made Chocolates 62 15 Interesting Chocolate Facts 63 16 Problems & Challenges in Indian Chocolate Industry 64 17 External Factors affecting Growth of Chocolate Industry in INDIA 66 18 Growth Opportunities in Indian Chocolate Industry 67 19 Strategies for Growth & Success in India 69 20 Chocolate Boutiques & Designer Chocolates 70 21 Conclusion 72 22 Bibliography 73 Project Objective This project aims at understanding the overall Chocolate Industry in India, the product portfolios of different players in the market, various factors affecting the growth and success of chocolate industry in India, the challenges and opportunities which the market offers and the changing trends in the Indian Chocolate Industry. The project also covers a brief study of Cadbury’s India with reference to above points. An Overview of Chocolate Industry in India The chocolate industry in India as it stands today is dominated by two companies, both multinationals. The market leader is Cadbury with a lion’s share of 70 percent. The company’s brands (Five Star, Gems, Eclairs, Perk, Dairy Milk) are leaders their segments.
Till the early 90s, Cadbury had a market share of over 80 percent, but its party was spoiled when Nestle appeared on the scene. The latter has introduced its international brands in the country (Kit Kat, Lions), and now commands approximately 15 percent market share.
The Gujarat Co-operative Milk Marketing Federation (GCMMF) and Central Arecanut and Cocoa Manufactures and Processors Co-operative (CAMPCO) are the other companies operating in this segment. Competition in the segment will get keener as overseas chocolate giants Hershey’s and Mars consolidate to grab a bite of the Indian chocolate pie. Per Capita Chocolate Consumption (in lb) of first 15 countries of the world Rank Countries Per Capita Consumption (in lb) 1 Switzerland 22. 36 2 Austria 20. 13 3 Ireland 19. 47 4 Germany 18. 04 5 Norway 17. 93 6 Denmark 17. 66 7 United Kingdom 17. 49 8 Belgium 13. 16 9 Australia 12. 99 10 Sweden 12. 90 11 United States 11. 64 12 France 11. 38 13 Netherlands 10. 56 14 Finland 10. 45 15 Italy 6. 13 INDIA, stands nowhere even near to these countries when compared in terms of Per Capita Chocolate Consumption. The Indian chocolate industry is extremely fragmented with a range of products catering to a variety of consumers. We have the bars/slabs, jellies, lollipops, toffees and sugar candies. Given India’s mammoth population, it comes as a surprise that per capita chocolate consumption in the country is dismally low – a mere 20 gms per Indian.
Compare this to over 7 kgs in most developed nations. However, Indians swallowed 22,000 tonnes of chocolate last year and consumption is growing at 10-12 percent annually. The market size of chocolates was estimated to be around 16,000 tonnes, valued around Rs. 4. 16 billion in 1998. Volume growth which was over 20% pa in the 3 years preceding 1998, slowed down thereafter. Both chocolate and sugar confectioneries have abysmally low penetration levels, in fact, even lower than biscuits, which reach 56 per cent of the households. Market growth in the chocolate segment has hovered between 10 to 20%. In the last five years, the category has grown by 14-15% on an average and will expect it to continue growing at a similar rate in the next five years. The market presently has close to 60mn consumers and they are mainly located in the urban areas. Growth will mainly come through an increase in penetration as income levels improve.
However, almost all of this consumption is in the cities, and rural India is nearly ‘chocolate-free’. But the fact is that three quarters of Indians live in Rural Areas. “Average summertime temperatures reach 43 degrees Celsius in India. Chocolate melts at body temperature of 36 degrees. ” Per capita consumption of chocolates in India is minuscule at 20gms in India as compared to around 5-8 kgs and 8-10 kgs respectively in most European countries. .. Awareness about chocolates is very high in urban areas at over 95%. … Growth of other lifestyle foods such as malted beverages and milk food have actually declined by 3. 7 per cent and 11. 7 per cent, however the CHOCOLATES continue to grow at the rate of 12. 6%. Low priced unit packs, increased distribution reach and new product launches can be said to have fuelled this growth. The launch of lower-priced, smaller bars of chocolate in the last two years and positioning of chocolate as a substitute to traditional sweets during festivals, have boosted consumption. This is also because chocolate, which was considered to be an elitist food, has caught the fancy of buyers looking for a lifestyle item at affordable cost. Till recently, chocolate consumption had been restricted by low purchasing power in the market.
Chocolates and other cocoa-based snack foods were looked upon as food suitable only for the well-off. After economic liberalization in 1991, major changes have occurred in food habits, partly on account of rise in gross domestic product (GDP) growth and higher purchasing power in the hands of the middle-class representing a third of the total population. Availability of chocolate products has also exploded. A study had projected that sales of the Indian chocolate industry would rise from $125/$130 million in 1998 to $175/$180 million by the year 2000 and to $450 million by the year 2005 which ACTUALLY happened irrespective of various negative factors. Per capita chocolate consumption continues to be low at about 200g per person, being mainly consumed in urban areas. In the middle and higher income groups, 70 per cent of children, 43 per cent of young adults and 16 per cent of adults consume chocolate. Chocolate Consumption Structure – 2004 Children 55% Adults 12% Young Adults 33% Chocolate & Confectionery Market of India – 2004 Chocolate Counts Rs. 250 Cr. 10% Chocolate Bar Rs. 350 Cr. 14% Mints & Chew ing gums Rs. 325 Cr. 13% Sugar Boiled Confectionery Rs. 1600 Cr. 63% AC Nielsen ORG Marg report estimates the Indian Chocolate Industry’ worth at Rs 2,000-crore (Rs 20 billion) Types of Chocolates Depending on what is added to (or removed from) the chocolate liquor, different flavors and varieties of chocolate are produced. Each has a different chemical make-up, the differences are not solely in the taste. 1. Unsweetened or Baking chocolate is simply cooled, hardened chocolate liquor. It is used primarily as an ingredient in recipes, or as a garnish. 2. Semi-sweet chocolate is also used primarily in recipes. It has extra cocoa butter and sugar added.
Sweet cooking chocolate is basically the same, with more sugar for taste. 3. Milk chocolate is chocolate liquor with extra cocoa butter, sugar, milk and vanilla added. This is the most popular form for chocolate. It is primarily an eating chocolate.
Cocoa is chocolate liquor with much of the cocoa butter removed, creating a fine powder. It can pick up moisture and odors from other products, so you should keep cocoa in a cool, dry place, tightly covered. There are several kinds of cocoa ? Low-fat cocoa has the most fat removed. It typically has less than ten percent cocoa butter remaining. ? Medium-fat cocoa has anywhere from ten to twenty-two percent cocoa butter in it. ? Drinking or Breakfast cocoa has over twenty-two percent left in it. This is the cocoa used in chocolate milk powders like Nestle’s Quik. ? Dutch process cocoa is cocoa which has been specially processed to neutralize the natural acids in the chocolate. It is slightly darker and has a much different taste than regular cocoa. Decorator’s chocolate or confectioner’s chocolate isn’t really chocolate at all, but a sort of chocolate flavored candy used for things such as covering strawberries. It was created to melt easily and harden quickly, but it isn’t chocolate. Categories of Chocolates Commercial Chocolates are available in the following forms: 1. Bars or Moulded Chocolates 2. Counts 3. Panned Chocolates (Gems) 4. ?clairs 5. Assorted Chocolates Bars or moulded chocolates (like Dairy Milk, Truffle, Amul Milk Chocolate, Nestle Premium, and Nestle Milky Bar) comprise the largest segment, accounting for 37% of the total chocolate market in volume terms. .. Wafer chocolates such as Kit-Kat and Perk also belong to this segment. Panned chocolates accounts for 10% of the total chocolate market. … Wafer chocolates such as Kit-Kat and Perk also belong to this segment. .. Form of Consumption a. Pure Chocolates b. Toffees c. Cakes & Pastries d. Malted Beverages e. Wafer Biscuits & Baked Biscuits f. Chocolate Desserts Chocolate Manufacturing Process Workers cut the fruit of the cacao tree, or pods open and scoop out the beans. These beans are allowed to ferment and then dry.
Then they are cleaned, roasted and hulled. Once the shells have been removed they are called nibs. Nibs are blended much like coffee beans, to produce different colors and flavors. Then they are ground up and the cocoa butter is released. The heat from the grinding process causes this mixture of cocoa butter and finely ground nibs to melt and form a freeflowing substance known as chocolate liquor. From there, different varieties of chocolate are produced.
What is conching? Raw unprocessed chocolate is gritty, grainy and really not suitable for eating. Swiss chocolate manufacturer Rudolph Lindt discovered a process of rolling and kneading chocolate that gives it the smoother and richer quality that eating chocolate is known for today. The name ‘conching’ comes from the shell-like shape of the rollers used. The longer chocolate is conched, the more luxurious it will feel on your tongue. Market Size (by value & by volume) The Indian chocolate market is valued at Rs. 650 crores (i. e. Rs. 6. 50 billion) a year.
The Indian chocolate bazaar is estimated to be in the region of 22,000-24,000 tonnes per annum, and is valued in excess of US$ 80 million. Chocolate penetration in the country is a little over 4 percent, with India’s metros proving to be the big draw clocking penetration in excess of 15 percent. Next, comes the relatively smaller cities/towns where consumption lags at about 8 percent. Chocolates are a luxury in the rural segment, which explains the mere 2 percent penetration in villages. The market presently has close to 60mn consumers and they are mainly located in the urban areas. Major Players & their Market Share The major players in the Indian Chocolate Industry are: 1. Cadbury’s India Limited 2. Nestle India 3. The Gujarat Co-operative Milk Marketing Federation (GCMMF) – AMUL 4. Cocoa Manufactures and Processors Co-operative (CAMPCO) Bars Count Lines Wafer Panned Premium Cadbury’s Dairy Milk & Variants 5-Star, Milk Treat Perk Gems, Tiffins Temptation & Celebrations Nestle Milky Bar Bar One, Crunch Kit Kat, Munch Nutties Amul Milk Chocolate Fruit ‘n’ Nut FUNDOO Bindaaz Almond Bar Campco Campco Bar, Cream Krust, Turbo Treat Cadbury’s India Limited – A Study CADBURY’S INTERNATIONAL Cadbury is a very old trusted name. It all started in Birmingham in England when John Cadbury started his family grocery shop with side business of cocoa and chocolate products in around 1824. His two sons, Richard and George, expanded their family business of cocoa and chocolate. Bournville, a town near Birmingham, was build by them as a part of expansion of their business.
Cadbury family is also known for their contribution in social reforms and considered as liberals. This family was in the forefront of adult education movement in England. CADBURY’S INDIA LIMITED Cadbury was originally incorporated as a wholly owned subsidiary of Cadbury Schweppes Overseas Ltd (CSOL) in 1948. The company’s original name was Cadbury Fry (India) Ltd. In 1978, CSOL diluted its equity stake to 40% to comply with FERA guidelines. In 1982, the name was changed to Hindustan Cocoa Products. CSOL’s shareholding was increased to 51% in Jan ’83 through a preferential rights issue of Rs700mm. The current name was restored in Dec ’89. In 2001, Cadbury Schweppes made an open offer to acquire the 49% public holding in the company.
The parent holds over 90% of the equity capital after the first open offer. A second open offer has been made to buyback the balance shareholding, after which the company would operate as a 100% subsidiary of Cadbury Schweppes Plc Ever since the Cadbury is in India in 1947, Cadbury chocolates have ruled the hearts of Indians with their fabulous taste. The company today employs nearly 2000 people across India. Its one of the oldest and strongest players in the Indian confectionary industry with an estimated 68 per cent value share and 62 per cent volume share of the total chocolate market. It has exhibited continuously strong revenue growth of 34 per cent and net profit growth of 24 per cent throughout the 1990’s. Cadbury is known for its exceptional capabilities in product innovation, distribution and marketing. With brands like Dairy Milk, Gems, 5 Star, Bournvita, Perk, Celebrations, Bytes, Chocki, Delite and Temptations, there is a Cadbury offering to suit all occasions and moods. Today, the company reaches millions of loyal customers through a distribution network of 5. 5 lakhs outlets across the country and this number is increasing everyday. OBJECTIVES AND VALUES Our objective is to Grow shareholder value? over the long term Cadbury in every pocket Our marketing strategy is aimed at achieving this vision by growing the market, by appropriate pricing strategy that will create a mass market and to have offerings in every category to widen the market Our Managing For Value Process incorporates Setting stretched financial objectives. Adopting Value Based Management for major strategic and operational decisions and business systems. Creating an outstanding leadership capability within our management.
Sharpening our company culture to reflect accountability, aggressiveness and adaptability. Aligning our management rewards structure with the interests of our shareowners. VISION Life Full Of Cadbury Cadbury is an organisation which impacts and interacts with the consumers. Cadbury is present in most happy occasions in the life of our consumer. Our brands excite our consumer. Cadbury is an expression of a consumer’s life.
Cadbury Full Of Life Cadbury as a company is vibrant. Cadbury ia a fun and energising workplace. Cadbury is robust and alive. Business Cadbury dominates the Indian chocolate market with above 65 – 70 % market share.
Besides, it has a 4% market share in the organized sugar confectionery market and a 15% market share in milk/ malted foods segment. Changing product mix Contribution to turnover 1994 Contribution to turnover 2001 Chocolate 59% 65% Sugar Confectionery 9% 10% Food Drinks 32% 24% Categories/ Brands Chocolate Bars , Count lines , Panned confectionery , Wafer chocolates, Assorted Chocolates & Gift Chocolates Sugar Confectionery Googly , Mocka, Gollum, Frutus & Nice Cream Food Drinks Bournvita, Delite & Drinking Chocolate Cadbury’s Indian operations are not just the largest in Asia but also the cheapest. In India, Cadbury has the largest market share anywhere in the world and has been the fastest growing FMCG Company in the last three years with a compound annual growth rate of 12. 5 per cent. Plant locations Cadbury’s manufacturing operations started in Mumbai in 1946, which was subsequently transferred to Thane. In 1964, Induri Farm at Talegaon, near Pune was set up with a view to promote modern methods as well as improve milk yield. In 1981-82, a new chocolate manufacturing unit was set up at the same location in Talegaon. The company, way back in 1964, pioneered cocoa farming in India to reduce dependence on imported cocoa beans. The parent company provided cocoa seeds and clonal materials free of cost for the first 8 years of operations.
Cocoa farming is done in Karnataka, Kerala and Tamil Nadu. In 1977, the company also took steps to promote higher production of milk by setting up a subsidiary Induri Farms Ltd near Pune. In 1989, the company set up a new plant at Malanpur, MP, to derive benefits available to the backward area. In 1995, Cadbury expanded Malanpur plant in a major way. The Malanpur plant has modernized facilities for Gems, Eclairs, Perk etc.
Cadbury also operates third party operations at Phalton, Warana and Nashik in Maharashtra. These factories churn out close to 8,000 tonnes of chocolate annually. Raw Material Composition in 2004 Product Name Quantity (in Kgs) Cost (Rs) / Ut Total Cost (in Rs. ) Milk Powder / Liquid Milk / Cream 26232610 15. 79 414212911. 9 Dry Fruits 432340 162. 6 70298484 Edible Oil 2167450 51. 72 112100514 Glucose-Liquid 27061090 13. 17 356394555. 3 Cocoa Beans / Butter/ Powder 8478460 109. 95 932206677 Malt Extract 8679690 20. 39 176978879. 1 Total 2062192021 Cadbury’s India Limited Raw Material Composition in 2004 (in Rs. ) Malt Extract 9% Cocoa Beans/ Butter/Powder 46% Edible Oil 5% Dry Fruits 3% Milk Powder/ Liquid Milk/ Cream 20% Glucose-Liquid 17% FINISHED PRODUCTS DETAILS (as on 2004) Product Name Stock (%) Production (units) Sales Qnty (units) Sales (Rs. Cr. ) Chocolates / Coated Wafer & Confectionery 58. 57 23810373 22064912 518. 51 Malt Foods (Jar/Refill/Tin) 22. 02 3206253 3030579 194. 97 Excise duty 13. 69 – – 121. 23 Confectionery- Hard Boiled 4. 04 4425758 4023276 35. 79 Cocoa powder (Tin/Bags) 1. 7 33312 29904 14. 78 Total 99. 99 31475696 29148671 885. 28 Cadbury’s India Limited Finished Products – Sales Revenue – 2004 (in Rs. Crores) Cocoa powder (Tin/Bags) 2% Confectionery- Hard Boiled 4% Excise duty 14% Chocolates/ Coated Wafer/ Confectionery 58% Malt Foods (Jar/Refill/Tin) 22% Cadbury’s India Limited Sales in Rs. Million Years 1998 1999 2000 2001 Sales 3354 3892 4324 4716 Sales 3354 3892 4324 4716 0 1000 2000 3000 4000 5000 98 99 00 01 Years Rs. Million PRODUCT MIX – CHOCOLATES PRODUCT BASKET Category Brand Variants Bars Dairy Milk Plain Fruit n Nuts Double Decker Roasted Almond Chunky 5-Star 5 Star Count Lines 5 Star Chrunchie Milk Treat Chocolate Orange Wafer Chocolate Perk Perk Perk XL Other Chocki Mint, Strawberry & Chocolate Premium/ Gift Chocolates Temptation Rum, Cashew, Almond & Orange Celebrations Various Gift Packs Cadbury’s Dairy Milk (CDM): Cadbury’s Dairy Milk is the flagship brand of Cadbury’s not only in India but world wide. CDM is the single largest selling unit in India. It has annual sales to the tune of Rs 200 crore. CDM not only accounts for 30 per cent of the total chocolate market in value, but commands nearly 26 per cent in volume terms and close to 30 per cent of Cadbury’s annual turnover. Moving from a predominantly adult positioning in the days of the legendary dancing girl ad, to the teens and the tweens, when the Cyrus Broacha ads hit the airwaves, CDM has made a long sweet journey. In spite of the new categories being explored by Cadbury, its star brand remains Cadbury Dairy Milk (CDM) which continues to corner almost 30 per cent of the chocolate market. Cadbury’s Temptation: Cadbury’s Temptation is premium chocolate brand aimed for high value consumption.
Various variants available are Almond, Rum, Cashew & Orange. Cadbury’s temptation is priced at Rs. 40 Cadbury’s Celebration Cadbury India launched its premium Celebrations range, which contains traditional Indian dry fruits wrapped in Dairy Milk chocolate. This gifting option combines the pleasure of giving away dry fruits – which Indians traditionally consider a premium, healthy gift – with chocolate. Cadbury now has 90 per cent market share in this profitable segment. PRODUCT REVAMPING & INNOVATIONS Cadbury’s chocolate brands registered double-digit growth in 2002, touching an astounding 19 per cent in the second half of that calendar year. Getting the power brands right was the first priority, so genuine re-launches of the products were made. However, the growth rate was declining after that.
The growth went down from 19 per cent in 1999 to 12 per cent in 2000 to single-digits, with seven per cent in 2001. If it staged a smart recovery to nearly 10 per cent in 2002, it was largely on the back of Chocki and the revamped power brands. PRODUCT INNOVATIONS: ? 5 STAR: Consumer feedback suggested that the old 5 Star was too chewy, and people complained of it sticking to their teeth. It was made softer and melted easily in the mouth & introduced as 5 Star Crunchy ? PERK: Perk was made much lighter and the size of the bar increased to match Nestle’s Munch. Perk had been under fire from Nestle’s deadly duo of KitKat and Munch, but after the relaunch, its marketshare is two per cent more than KitKat’s. And, the five-year-old brand is now almost as big as the decades-old 5 Star in size, both in the region of Rs 50-55 crore. ? HEROES: Packaging innovation has played a vital role in revamping of various Cadbury’s brands. Heroes brand is simply a multi-pack with miniatures of all its most popular brands in a single outer case. NEW PRODUCT LAUNCHES Rich Dry Fruit Collection For Gifting Festive Season Cadbury Celebrations’ Rich Dry Fruit Collection – a range of premium chocolate gift boxes. Available in attractive packs, the Collection caters to a premium gifting consumer and is an ideal festive gift. It is a unique combination of the best Cadbury chocolate and premium dry fruits and comes in four different formats each of which is a mix of select premium dry fruits enrobed in rich Cadbury Dairy Milk chocolate. Cadbury’s Creative Launch A new ‘after dinner’ segment Cadbury Desserts “for sweet moments after dinner” “Khaane Ke baad Kuch Meetha Ho Jaye”. Rs. 20/- per packet of 44 gms Cadbury Dairy Milk (CDM) Desserts – with rich indulgent cr? e center, in exotic & traditional flavors of Tiramisu and Kalakand. CDM Desserts offer the perfect rounding off taste, after meal that adds special ‘Meetha’ moments to the family.
The rich tastes of CDM combined with the unique cr? me center in exotic flavors provide a special chocolate experience. CDM Desserts add delight to the after-meal moments, especially with the consumers whose current choice of sweets range from home made delicacies to fruits to meethai. PRICING After the roaring success of Nestle’s Munch and Chocostick, Cadbury’s empire struck back hard. The Rs 5 price point accounts for more than half of all chocolate sales. Nestle had seized the initiative at this price point, with its launch of Munch, now a roaring success (and the largest selling product at that price point). Today, Cadbury has four products at this price point: CDM, Perk, 5 star and Gems – and the five-rupee CDM bar is its single largest-selling SKU. “This is a potent price point in India, because the average purchasing power is abysmally low,” is what industry analyst have to say. Nestle kicked off one of the biggest success – the liquid chocolate category with its brand Chocostick priced at Rs. – three months ahead of competition. Cadbury did react with Chocki, priced at Rs 2, expanding the concept of sachetisation to new frontiers. Chocki has been the single biggest growth driver for Cadbury as well as the entire chocolate category.
The novelty of the format endeared itself to the existing customer. In less than one year, it constituted nearly 10 per cent of the total chocolate market, split equally between Cadbury and Nestle. Volume led growth strategy Cadbury has followed a well-planned strategy of fuelling volume growth by introducing smaller unit packs at lower price points. Simultaneously, the company seems to have astutely juggled with the larger pack sizes and raised prices to a degree higher than what appears at face.
The strategy has driven volumes in the last two years and we expect the volume growth to continue in the next two years. PRICE WOES Chocki, selling at a potent price point of Rs 2, was ideal for smaller towns, especially since it did not need refrigeration. But Chocki started to cannibalise other higher-priced chocolates in larger markets. The students of Bombay Scottish (an upmarket school in Mumbai) are not supposed to eat Chocki, they should not have even heard of the product. Distribution Chocolate needs to be distributed directly, unlike other FMCG products like soaps and detergents, which can be sold through a wholesale network. 90% of chocolate products are sold directly to retailers.
Distribution, in the case of chocolates, is a major deterrent to new entrants as the product has to be kept cool in summer and also has to be adapted to suit local tropical conditions. Cadbury’s distribution network used to encompasses 2100 distributors and 450,000 retailers. The company has a total consumer base of over 65 million. Besides use of IT to improve distribution logistics, Cadbury is also attempting to improve distribution quality. To address the issues of product stability, it has installed VISI coolers at several outlets. This helps in maintaining consumption in summer, when sales usually dip due to the fact that the heat affects product quality and thereby offtake. To avoid cannibalization of its higher priced products from lower priced ones, Cadbury is setting up two separate distribution channels – one for CORE business & other for MASS markets, with different stockists, wholesalers and retailers.
One set will be dedicated to Cadbury’s high-end products and traditional chocolates. The other will cater to the mass market brands namely Chocki, Halls, Eclairs et al – all products priced below Rs 3. But today, Cadbury’s distribution network reaches out to six lakh outlets each for its chocolate & confectionery brands (i. e. total reaching12 lakh outlets). Promotion Typically it is said that chocolates are being eaten when everyone is happy. And this is something advertising has always portrayed. But it is found chocolates are eaten under diverse conditions and moods – when people are anxious, when they are sad, when happy – a whole range of emotions. Condensing these views & thoughts, it can be said chocolate is a true soul mate. Someone who is with you through the ups and downs of life, helping you bounce back.
And that’s what Cadbury’s Dairy Milk (CDM) positioned itself as – a special friend. % Share of various Brands Ad spending of Cadbury Here, the 6 Cadbury brands shown in the graph comprise 85% of the advertising pie, whereas, rest of the 9 brands advertised by Cadbury comprise 15% of the advertising. Cadbury Dairy Milk Chocolate is the most advertised brand (with 22%). RE-INVENTING CABDURY Kya Swad Hai Zindagi Mein” redefined the way Indians looked at Cadbury Chocolates. (The commercial showed a beautiful young lady overcoming all obstacles on the cricket ground, crossing boundary, watchman, securities and embracing her lover who won the game by hitting a six). This theme introduced in around mid 90’s bought instant growth to Cadbury’s Dairy Milk. The Ad campaign ran successful for about four years and immersed deeper inside hearts of Indians. In March 2002, Cadbury launched its next advertisement campaign for its flagship chocolate brand, Cadbury’s Dairy Milk (CDM). The campaign featured a television (TV) commercial that was significantly different from the company’s earlier commercials for the brand. It featured Cyrus Broacha interviewing college students and asking why they liked to eat CDM. This was followed by college students ‘singing’ their excuses for eating CDM. Just as the commercial seems all set to end with the students and Cyrus singing the famous CDM theme, ‘Khane Walon Ko Khane Ka Bahaana Chaahiye’ (those who want to eat, will find excuses), a student comes up and questions Cyrus, The advertisement aimed at conveying the idea that no specific occasion is required for consuming CDM. This was a significant departure from CIL’s strategy of appealing to adults in India, who sought a rational justification for indulging in chocolate consumption. Cadbury roped in Preity Zinta for its PERK brand. Preity Zinta’s angelic dimples laid the foundation for what would become the Indian teenager’s favorite snack.
After this campaign, PERK’S sale surged Cadbury’s advertising has, over the past few years, aptly reflected India’s passion for chocolates. CADBURY ADVERTISEMENTS Dil ko jab kushi choo jaye… “… kuch meetha jo jaye.. ” Akhir barvi pass ho hi gaya. ” kuch meetha jo jaye.. Log Cadbury Kyon Khate Hai?. Khaane waalon ko khaane ka bahaana. ” Cadbury’s Dairy Milk?.. Asli swad zindagi ka CADBURY DESERTS “khaane ke baad kuch meetha ho jaaye. ” CADBURY CELEBRATIONS Looking wistfully at a photograph, Mr. Bachchan thinks, he recollects the photo-shoot when he had thrown the cap off his friend’s head. Aaj dil ne socha yun, kissi apne ko kya doon? Jo usse kahe tum apne ho, .jo apne aap mein khaas ho, o sirf taufa nahin ehsaas ho Jisme rishto ki mithas ho?. Cadbury’s Celebrations Rishto ki Mithas Cadbury And The Worm Controversy The discovery of worms in some samples of Cadbury’s Chocolate in early October 2003 created one of the biggest controversies in India against a Multi National reputed for being a benchmark of QUALITY. The controversy created an deep adverse impact on the company with their sales not only drastically dipping down, but at the same time allowing the competitors to establish their foothold and taking maximum advantage of Cadbury’s misfortune. The controversy, and the adverse publicity received in several countries, set back its plan of outsourcing model which would have resulted in significant revenue generation, several months back.
The “worms’ controversy” came at the worst time?. the next few months were the peak season of Diwali, Eid & Christmas. Cadbury sells almost 1,000 tonnes of chocolates during Diwali. In that year, the sales during festival season dropped by 30 per cent. The company saw its value share melt from 73 per cent in October 2003 to 69. 4 per cent in January 2004. In May, however, it inched up to 71 per cent. CDM sales volumes declined from 68 per cent in October ’03 to 64 per cent in January 2004 Clearly, the worm controversy took a toll on Cadbury’s bottom-line. For the year ended December 2003, its net profit fell 37 per cent to Rs 45. 6 crore (Rs 456 million) as compared with a 21 per cent increase in the previous year.
However, Cadbury’s reiterated that all through the 55 years of leadership in India, that it has remained synonymous with chocolates and have remained committed to high quality and consumer satisfaction. ” CABDBURY’S FIGHT-BACK ‘Project Vishwas’ “Steps to ensure quality & regain the confidence” Following the controversy over infestation in its chocolates, Cadbury India Ltd unveiled ‘Project Vishwas’, a plan involving distribution and retail channels to ensure the quality of its products. The company’s team of quality control managers, along with around 300 sales staff, checked over 50,000 retail outlets in Maharashtra and replaced all questionable stocks with immediate effect. The Vishwas programme was intended to build awareness among retailers on storage requirements for chocolates, provide assistance in improving storage conditions and strengthen packaging of the company’s range of products. Cadbury reduced the number of chocolates in its bulk packets to 22 bars from the present 60 bars. These helped stockists display and sell the products “safely and hygienically” 190,000 retailers in key states were covered under this awareness programme. The Big ‘B’ FACTOR The big factor that has pushed up CDM sales is the Amitabh Bachchan campaign. It helped restore consumers’ faith in the quality of the product. In early January, Cadbury appointed Amitabh Bachchan as its brand ambassador for a period of two years. The company believed that the reputation he has built up over the last three decades complements their own, which was built over a period of 50 years.
Yet, the entire credit of recovery could not be attributed to the brand mascot. Incisive action taken by the company also helped. Some of which were: 1. Responded to consumers concern over the issue rapidly. Also, the communication campaign worked effectively in giving out the central message. 2. The packaging was changed to include a sealed plastic wrapper inside the outside foil. Cadbury’s launched a new ‘purity-sealed’ packaging for its flagship product, Cadbury Dairy Milk.
The packaging is in response to foreign bodies, notably worms, being found in its products. Over the next few weeks Cadbury will work towards introducing either a heatsealed or a flow-pack packaging that offers a high level of resistance to infestation from improper storage. 3. New advertising & promotion campaigns were in place which accounted for an Ad spend of nearly Rs 40 crore (Rs 400 million) Cadbury invested nearly Rs 25 crore (Rs 250 million) this year on new machinery for the improved packaging. Addressing his audience, Mr. Bachchan says, “Mujhe aapse kuch kehna hai, jis kaam mein manushya ki antar aatma uske saath na ho, uss kaam ko karne se usse sab kuch mil sakta hai… man ki shaanti nahin mil sakti. Isliye jab Cadbury walon ne mujhe kaha ki unki baat main aap tak pahunchaoon, to pachpan saalon se Cadbury khaane wala main bhi thoda sa hitchkichaya…. … Maine unse ek sawaal poocha,ki kya iske baad main chain ki neend so paoonga ya nahin, to jawaab mein voh mujhe apni factory le gaye. ” Walking into the Cadbury factory, e takes a look at their complete manufacturing process and continues, “Aur mujhe apni international technology…. apne kade quality controls aur double protection… … packaging dikhayi. ” Saying which he takes a bite of the chocolate. Finally giving his personal assurance and approval he says, “Aaj kal mein badi chain ki neend so raha hoon. ” “Ab aapki favourite Cadbury Dairy Milk naye purity seal pack mein. ” CADBURY’S SINGING SWEETLY AGAIN All is well that ends well. And for Cadbury’s India, nothing can be sweeter than Regaining Back the Consumer Confidence. Thanks to quick action taken to recover the damage done by the worm controversy like Operaion Vishwas, adopting new packaging & massive advertising with Mr. Amitabh Bachchan as their brand ambassador, Cadbury’s regained its market share.
The survey conducted by the company says that consumers have long forgotten the controversy and are back to their merry chocolate-chomping ways. Sales were back to the precontroversy levels.
Consumer confidence in the product was back and there was a steady progression in sales . The company posted a high double digit sales growth in that year end. The recovery began in May 2004 when Cadbury’s value share went up to 71 per cent. Hires AT Kearney to curb costs Cadbury India appointed management consultancy firm AT Kearney to draw up a strategy to control costs in several areas, including sourcing of raw materials and packaging. This was partly an outcome of the worms’ controversy more than a year ago. Among other things, it changed the wrappers for its Cadbury Dairy Milk brand and introduced better coolers.
The consultancy firm will also look at the sourcing of direct and indirect materials like renegotiating with suppliers for longer term contracts and vendor management. Other costs (indirect expenses) like travel costs and hotels were also being studied. In other words, Cadbury is trying to reduce the cost per stock keeping unit (SKUs, or packs). The aim is to improve efficiencies. Earnings sensitivity factors Cocoa bean prices: Domestic as well as international prices of key raw material – cocoa have significant impact on margins. Excise duties : Changes in excise levied on malt and chocolate influences end product prices and thereby volume growth as well as margins. Changes in custom duties and foreign exchange fluctuation: As 20% of raw material is imported, changes in custom duties & foreign exchange fluctuations have significant impact on the final cost of the product. Competition from MNCs like Nestle as well as imported brands. Increasing competition puts pressure on advertisement budget and margins.
However on the positive side, it helps in expanding the market. Success factors of Cadbury’s India Limited 1. Global management processes: India occupies a high profile position in the global organization, with advocates in regional and global headquarters. Global management has allowed the local operation a high degree of flexibility in growing the business, understanding that asset utilization may be lower and returns slower to arrive, but expecting volume share to compensate for lower margins in the long run. 2. Local management processes: The Cadbury India team is all-Indian and has a deep understanding of local market dynamics. The business is set in a way that highlights localization across all facets – driving the belief that the only way to succeed in India is by developing localized business models. For example, the company tailored the chocolate formula in India to prevent melting in the country’s open-air high frequency store environment. 3. Customized business models: Local management has set up systems to test and develop products from the ground up with specialized interlinked cells that execute innovation and market testing hand-in-hand. Cadbury India is known as a key product innovator.
Besides Dairy Milk, the entire Cadbury product portfolio in India has been developed locally to suit Indian consumer tastes. Packaging, marketing and distribution have all been tailored to local market conditions. . Royalty Structure: Royalty to Cadbury Schweppes Plc. , is around 1 per cent of the turnover. But with that, the company gets unlimited access to latest technology, new products and so on. They can also introduce new products from the parent, if it is suitable for Indian market. 5. Subtle reengineering of raw material mix led to cost savings: Cadbury has reduced its dependence on cocoa, thus lowering its exposure to volatile raw material prices as well as cutting costs. It appears that they have subtly altered its recipe by using less of costlier cocoa and more of milk and sugar. Cadbury’s launch of Perk has also contributed significantly in reducing the proportion of cocoa in the overall raw material mix. Consequently, Cadbury saved about Rs. 94mn (1. 8 percent of net sales) in FY1999. MARKETING – PROMOTION of CHOCOLATES in INDIA Traditionally, chocolates were always targeted at children. But stagnancy in growth rates made the companies re-think their strategies.
Cadbury was the first chocolate company that took the market by storm by repositioning brands at adults, as opposed to children. I BUYING BEHAVIOUR Chocolates are consumed as indulgence and not as snack food, as prevalent in western countries. Almost 75% chocolates are impulse purchases.
Chocolates are bought predominantly by adults and gifted to children. On an average the wholesalers sells Rs50000/month of Chocolates (all brands included). Also the wholesaler usually deals in all kinds of FMCG goods, Foodstuff in addition to the chocolates. The items like chocolates are placed near the counter. Chocolates are kept in cardboard boxes and are also delivered in the same. … In a few of the cases the chocolates were kept separately (as per equipment provided by the manufacturer – e. g. VISI Coolers), In addition to marketing promotions companies have been focusing extensively on the promotions by the sales staff. Also the companies can devise there marketing strategies that are catering to specific segments and are thus more effective. II NATURE OF RETAIL OUTLET Chocolates are primarily sold through Kirana Stores, Gift stores, Medical Stores, canteens, Pan-Bidi stores, Bakeries, Sweet Shops etc.
This is true for chocolates also. The space allocated for the chocolates was less when compared to the total area of the shop. Of the space allocated for chocolates, Cadbury brands occupied more than Nestle brands. The chocolates category thrives on excitement. It’s all about giving the consumer a choice and taste which they enjoy. III STOCKING OF THE PRODUCTS In most of the cases, various brands of chocolates are kept together. In some of the cases the chocolates are stocked depending on the manufacturer’s provision. The chocolates are kept in Glass Jars and boxes – These are provided by the respective companies along with the product. The chocolates are kept there. But in most of the cases chocolates are stocked near the counter. Ideally the shopkeeper tries to keep chocolates within the reachable (sitting on the counter) distance.
Chocolates are kept at or below the eye level. This is to facilitate visibility of the chocolates for the customer who is visiting the store. Medium size retailers sell chocolates of about Rs. 400 – Rs. 800 per week while big retailers sell chocolate worth Rs1000 or more per week. CHOCOLATE ADVERTISING IN INDIA Growth of Chocolate Advertising on Television: Year 2003 – 2004 Company-wise Ad Spending The graph shows that Cadbury’s India Ltd. tops with 52% share of the advertising pie on television. Nestle India Limited grabs the 2nd position with 34% share, whereas, Parle Products gets the 3rd position with 8% of the advertising share.
Chocolate Ads shift focus from KIDS to YOUTH Indian chocolate market is almost totally depended on purchases of kids. In recent times, the chocolate majors, Cadburys and Nestle took major initiatives to bring in grown-ups into this market. While Cadbury is trying to sell indulgence to adults, Kit Kat is selling ‘ritualistic’ break to teenagers/ young adults. This is reflected in the changing advertising patterns across different channels. Out of 100 channels, eight channels account for 40 per cent of chocolate advertising. This pack of eight is headed by Cartoon Network, which is obvious, since the main buyers of this product category are children. But heavy advertising on channels like MTV, MAX, Star Plus, Zee, Zee Cinema, Discovery and Channel [V] proves the changing profile of the potential consumer for the advertisers, in this category, from children to teenagers/young adults as well as adults. NESTLE INDIA Background Nestle India was promoted by Nestle Alimentana, Switzerland, a wholly owned subsidiary of Nestle Holdings Ltd. , Nassau, Bahama Islands.
Nestle is one of the oldest food MNC operating in India, with a presence of over a century Nestle has a presence in 83 countries worldwide. It has a total number of 509 factories out of which 220 are located in Europe, 153 in America and 136 in Africa, Asia and Oceania The Swiss food giant has been in India for 90 years, with six manufacturing plants, 3,500 employees and almost $500 million in sales in 2002. Business Nestle has a presence in the following categories – Baby Food, Milk products, Beverages (Coffee, malted beverage), Chocolates & confectionery and other processed food products. Chocolates & Confectionery Nestle forayed into chocolates & confectionery in 1990 and has cornered a fourth share of the chocolate market in the country.
Chocolates contributes 14% to Nestle’s turnover. It has expanded its products range to all segments of the market. In fact, Nestle is the fastest growing company in chocolates in India. The Kitkat brand is the largest selling chocolate brand in the world. Other brands include Milky Bar, Marbles, Crunch, Nestle Rich Dark, Bar-One, Munch etc. New launches such as Nestle Choco Stick and Milky Bar Choo were made at attractive price points to woo new consumers. The company introduced two new brands, Charge and Crunch, in 1998. The company has discontinued products Chocostick, as it did not add value to the its portfolio.
Nestle achieved roaring success by grabbing the Rs 5 price point. From Jan – Sep ’05, Nestle chocolates witnessed a growth of 14. 8 per cent. New Product Introduction & Innovations The Company sustained momentum during the year by driving distribution through innovative consumer promotions and trade offerings and supporting key price points. High temperatures are a typical characteristic of Indian subcontinent. Chocolate starts melting at such high temperatures thus making chocolate unfit for consumption.
Hence, Nestle introduced an innovative LIQUID CHOCOLATE – CHOCO STICK at a price tag of Rs. 2/- which was in instant hit. NESTLE MUNCH, which is the largest selling unit in the wafer segment and the most widely distributed, continued to gain in volumes. NESTLE CHOTU MUNCH, which was launched at Rs. /- price point, was well received. A range of other innovative and renovated products were launched which included NESTLE Milk Chocolate, NESTLE Fruit & Nut, NESTLE Krunchy, NESTLE MILKYBAR STARZ, NESTLE CHOO, NESTLE Chocolate Eclairs, NESTLE Coffee Eclairs and various flavours for CHOCOSTICK, NESTLE CHOCOLATE PRODUCT PORTFOLIO NESTLE MAHAMUNCH A ROARING SUCCESS NESTLE MAHA MUNCH Ruk Na Paye?? Ruk Na Paye Nestle MAHA Munch? only Rs. 5 Amul (GCMMF) The Rs 2,748-crore GCMMF is in chocolate segment since quite some time. However, its market share is just 5% and the company did not look aggressive till recently. Amul chocolates used to come in not so attractive packages and very little marketing effort was seen. But things have changed and for good. Amul is now an important player in this growing chocolate industry. It has firmed up its measures with marketing and new product launches and revamping its packaging.
Amul just recently launched new chocolate brands in the market – Rejoice, Kite Bite and Nuts `bout You. Cadbury’s Worm Controversy & AMUL The breakup of Cadbury’s worms’ controversy accelerated & facilitated Amul’s marketing efforts. The direct impact of Cadbury’s loss was Amul’s GAIN. In Mumbai, which accounts for almost 10 per cent of the Rs 650 crore (Rs 6. 50 billion) a year chocolate market in India, the company raised its market share from 2 per cent in the beginning of October 2003 (time when worm controversy broke) to 15 per cent by the end of the month. The company sold nearly 20 tonnes in Oct 2003 in Mumbai, against only 2 tonnes in Oct 2002 20 % overall growth of Amul’s chocolate share can be purely contributed to the Cadbury’s worm controversy. In an attempt to boost sales, the company launched three new chocolates in Mumbai under the brands Fundoo, Bindaas and Almond Bar. While the first two were been priced at Rs 10 for a 30 gm stick, Almond Bar carried a price tag of Rs 10 for a 35 gm chocolate. Launch of Cooking Chocolate Though, cooking chocolate is available in the market, it is offered only as a commodity, not as a branded product. The Gujarat Co-operative Milk Marketing Federation (GCMMF), owner of the brand Amul, is strategized to capture a lion’s share in the chocolate segment by tapping the hitherto untouched sub-segments with the launch of its new brand Amul Chef in July 2003, making it the first ever branded cooking chocolate to be made available in the Indian market. The `premium’ variant of the cooking chocolate was priced at Rs 110 for 500 grams and the `classic’ variant was priced at Rs 100 for 500 grams.
Amul targeted various segments with its new product, including housewives from SEC A and B households, caterers, bakeries, restaurants, biscuit manufacturers, ice-cream parlours, and confectioners. Amul also aimed to capture a market share of 20 per cent in the first two months in Delhi and Mumbai.
The market size of cooking chocolate in Mumbai and Delhi alone is estimated at 50 tonnes per month. Brand New Products & Packaging to push Chocolate Business Amul revived its chocolate business with new products and renewed packaging. The company launched Chocozoo brand of chocolates in December 2004, to target the age group of four to 14 years. Besides introducing new products in the chocolate segment, Amul also revamped its packaging with the help of TMA, which is an international agency. Amul also launched occasion-related sub-brands.
Its Nuts ’bout U brand was launched on the eve of Valentine’s Day, while the Kite Bite brand was unveiled during the kite-flying festival in Ahmedabad. Amul has decided to segment the market with brands catering to the `impulse’ and `teen’ segments, as well as having brands catering to different occasions. Amul, which reaches out to over five lakh retail outlets, has over 2,600 distributors under its fold. GCMMF has also drawn up plans to make its chocolate business a separate division of the company. CAMPCO Central Arecanut and Cocoa Manufactures and Processors Co-operative A sudden withdrawal by the buyers of cocoa from the procurement operations due to crash in the international market came as a shock to cocoa cultivators in India. Karnataka and Kerala Governments enthused, at this stage, the CAMPCO to enter on the scene to rescue the farmers from distress. CAMPCO willingly took up the responsibility to enter the cocoa market and performed a savior’s role. As a strategy for survival in the International scene the CAMPCO played a major role in establishing a name for Indian Cocoa, which hitherto had not been achieved. It procured cocoa pods from growers and adopting scientific processing methods to market standards, released dry cocoa beans matching in quality in the world market equal to that of Ghana, Brazil and other cocoa cultivation nations. After entering into the Cocoa market, the Co-operative was able to export Cocoa Beans worth Rs 40 million to European countries in the initial phase of operations. India was not known as a Cocoa producer in the international Trading Community, since yearly production was hardly 5 to 6 thousand tonnes which is not even 0. 3% of the total world consumption. Through sustained efforts CAMPCO has been able to ensure reasonable prices to Cocoa growers. The Co-operative had to face the problem of a limited internal market and un-remunerative export market. With the setting up of the chocolate manufacturing factory at Puttur, 50KM from Mangalore, the Co-operative has been able to increase local consumption of cocoa based products and to export value added semi-finished products.
With a view to creating a permanent demand and a steady market for the beans, CAMPCO established a Chocolate Manufacturing Factory at Kemminje village in Puttur Taluk in Dakshina Kannada district, adopting foreign technical advancement in chocolate making. The Factory was set up in 1986 at an initial investment of Rs. 116. 7 Millions. CAMPCO CHOCOLATES CURRENT STATUS of CAMPCO However, the company does not have much visibility in the Indian market. No advertising are seen being aired on TV? at least not on the prime channels. The company seems to have restricted its marketing efforts in south India only. Campco, being a co-operative is functioning under pressures from various political parties and is surrounded by various controversies all of which arising out of internal disputes.
Home-made Chocolates Another area of chocolate industry in India is HOME-MADE CHOCOLATES. This segment is highly fragmented and operates independently. They are more pronounced for manufacturing distinct flavors and varieties of chocolates in various shapes and size. But, these chocolates are usually priced at a higher price than that available for branded products for the same quantity. House-wives from elite class usually indulge in this kind of business. They usually operate in local area and through their contact network. Some home-made chocolate manufacturers manufacture really attractive GIFT CHOCOLATES. Interesting Chocolate Facts Why is Chocolate in India different than most European chocolates? The temperatures in India are much higher than that of the European countries. To prevent the chocolate from melting and to enable shape retention under such high temperatures the recipe of the chocolate is adapted to the Indian climate.
Therefore the milk fat content in Indian chocolates is lesser than that of European chocolates and hence they taste different. Sometimes, white spots appear on Chocolates sometimes. Is that safe? When a chocolate gets exposed to temperature variances from a hot day to a cold night (which is very common all across India), the fat expression happens on the surface of the chocolate.
This means white spots emerge on the surface of the chocolate. This phenomenon is called ‘fat bloom’. It is entirely safe to consume chocolates however the feel and the taste of the chocolate may not be the same as is originally intended to. Are chocolates available for diabetics? Currently in India no manufacturer produces chocolates for diabetics, as the government regulations do not permit manufacture of such chocolates. The industry majors are liaising with the government authorities to enable manufacture of such chocolates in India. Chocolates for diabetics, though, are available in certain parts of the world. Chocolate: the new solution for blood pressure? Cocoa beans have antioxidant compounds called flavanols, and scientific research suggests they do good things to blood vessels.
Dark chocolate contains flavanoids, an antioxidant which helps the body by neutralising potentially cell-damaging substances known as oxygen-free radicals, a normal byproduct of metabolism. Problems & Challenges in Indian Chocolate Industry 1. TEMPERATURE: A peculiar problem that hinders the distribution to far-off places is the tendency of chocolates to melt under even moderate heat. The temperatures can reach as high as 48 degrees in summers, whereas chocolate starts melting at body temperature (about 37-38 degrees) . Manufacturers have to take precautionary measures to ensure the preservation of chocolates especially in summer. 2. UNAVAILABILITY OF CONTROLLED REFRIGERATION: India does not have controlled refrigerated distribution. Air-condition supermarkets are rare. Cadbury loses 1. 5 percent of annual sales of Rs. 6. 8 billion to heat damage. Companies revise ingredients to make chocolate withstand heat, and so Indian chocolates are more resilient to heat than Eurupean chocolates by a factor of 2 degrees. Ironically, the chocolate market has grown recently because smaller retailers have stuffed fridges and coolers supplied by the cola companies Coke and Pepsi with chocolates.
Nestle and Cadbury have tried to provide loans for retailers to buy fridges, but to hold down power costs the shopkeepers switch off the fridges at night. As a result the cocoa fat melts and migrates to the main body of the chocolate bar. When the cooling is switched on in the morning, the cocoa fat solidifies and turns white, presenting a bizarre, un-sellable white on black form. Nestle tried to provide fridges with see-through doors, but was appalled to see its chocolates sandwiched between dead chicken, butter and vegetables. Small coolers were provided to retailers to keep the chocolate from melting, but that didn’t quite do the trick. Electricity costs money and is not provided in a uniform way, so on and off the electricity goes and the product may suffer sometimes 3. RAW MATERIALS: Cocoa is the key raw material and accounts for around 35% of the total material cost (including packaging) of chocolates.
The price of cocoa has been hitting a new high of late. Cocoa prices are at a near 20-year high at $2358 per ton, up from $900 a year back. India does not produce cocoa to any noteworthy extent but is a large consumer of chocolates. Consumption of chocolates and other cocoa-based products, especially among the middle class, has been growing. 4. TRANSPORTATION: Chocolate needs to be distributed directly, unlike other FMCG products. 90% of our products are sold directly to retailers. Building such a direct network in rural areas is a daunting task since the infrastructure is poor in India in rural areas. 5. THREAT FROM IMPORTED BRANDS: Free availability of imported brands bought through illegal routes pose a threat to the domestic chocolate industry. Usually, these imported chocolates taste better than domestic chocolate due to recipe difference.
Hence consumers who are willing to spend a little more, prefer these imported chocolates. However, the premium brands, which come through official channels, do not pose a threat to the market, as these cater to a small niche market.
However there is a lot of dumping from neighboring countries like Dubai, Nepal, etc of inferior brand of imported chocolates. These are not only of low quality, but are brought very near to their expiry dates. Most of the cheap chocolate brands that are available do not meet Indian Food Regulations. External Factors affecting Growth of Chocolate Industry in INDIA ? Good monsoon ensures adequate availability of raw materials, which are mainly agricultural in nature. Raw material prices have significant influence on margins. ? Government policies in terms of licensing, duties, movement of agricultural commodities etc. also affect the introduction of products, time lag for a product launches, taxes, excise, etc all influence the business.
Market growth driven by overall economic growth and urbanization also contributes. An overall booming economy will consume tonnes of chocolates because consumer spending increases. Also, the absolute number of consumers in middle class & upper middle class increases. ? Rupee depreciation improves export realizations, however it also makes import of raw material (esp. cocoa) expensive. Growth Opportunities in Indian Chocolate Industry Untapped Market & Limited Consumption: The fact that chocolate is not a traditional food, high prices and domestic production problems will provide the main problems to market growth. As these markets develop, prices will fall making these products more accessible to the wider population. However the Indian market is still untapped and provides immense scope for growth, both geographically as well as product basket wise. Chocolates right now reaches about 70mn to 75mn consumers. It is estimated that chocolates have a potential market of about 116mn consumers.
Chocolate consumption in India is extremely low. Per capita consumption is around 160gms in the urban areas, compared to 8-10kg in the developed countries. The per capita chocolate consumption in India is still much below the East Asian standards. Hence per capita consumption has a immense scope for improvement. In rural areas, it is even lower. Chocolates in India are consumed as indulgence and not as a snack food. A strong volume growth was witnessed in the early 90’s when Cadbury repositioned chocolates from children to adult consumption.
The biggest opportunity is likely to stem from increasing the consumer base. Leading players like Cadbury and Nestle have been attempting to do this by value for money offerings, which are affordable to the masses. We also believe that the near term opportunity lies in increasing penetration rather than increasing intensity of consumption. In the past five years, the chocolate business grown by 14-15% on an average and is expected to grow further for at least next five years. Changing Attitudes & Consumption pattern: In the past, chocolate consumption had been restricted by low purchasing power in the market. Chocolates and other cocoa-based snack foods were looked upon as food suitable only for elitist consumption till recently. But with the launch of lower-priced, smaller bars of chocolate in the last two years and positioning of chocolate as a substitute to traditional sweets during festivals, have boosted consumption. Chocolates which were considered to be an elitist food hit the fancy of masses looking for a change in life style at affordable cost.
Rural expansion: Rural market and small town markets are seen as the key to spurring double-digit growth. Products such as liquid chocolate packs from the existing portfolio are expected to enable rapid acceptance.
Leverage India for offshoring: India is being leveraged for export of finished goods, as a superior destination for manufacturing best practices, and for BPO opportunities. All the above points bring us to a conclusion that there’s an immense scope for growth of chocolate industry in India not only in its offering pattern but also for increment in its total consumption value and size. Strategies for Growth & Success in India 1. Revamp the product to keep the excitement alive. 2. Companies should look at new avenues, while expanding the reach of its products. Distribution will hold the key. Companies need to reach out to smaller towns, where three-fourths of the population does not even know the product. 3. Merger & Acquisitions: Mergers & Acquisitions with companies that match the product portfolio & overall growth strategy should be considered which will not only strengthen the company to establish a stronger hold in the country but also ward off possible competition in the select category.
Such collaborations will also facilitate companies to use each other’s distribution networks. Chocolate Boutiques & Designer Chocolates They call it ‘choco fever’. Chocolate Boutiques are a complete chocoholic experience. Surrounded on all sides by scrumptious chocolates wrapped neatly in colourful foil and paper, any one will be gripped by this fever. It’s a world of chocolates where the flavour of Jamaican rum truffle melts in your mouth even as your hand reaches out greedily for a kiwi-flavoured concoction or where roasted almonds are a delight to eat while your mind flirts with hazelnut praline. Manufacturers are finding an increasing number of curious customers who’re pampering their taste-buds to apricot and peach chocolate, strawberry chocolate or better still wild berry in cognac flavoured chocolate. Manufacturers are now luring their patrons with chocolates in geometric shapes, animal figurines coloured in metallic hues and glitter. For the more adventurous, there are also chocolates with pan-supari, cardamom flavours and liqueur filling.
Products like nut-based praline chocolates, some unique flavors like tamarind and chilli chocolates, and champagne and Jamaican rum truffles are also demanded in the market. These manufacturers also cater to the older and the health-conscious choco-lovers, the high fibre, low fat and sugar ones are quite popular. Apart from the festive season, weddings and baby announcements also see heavy offtake of premium sweet delicacies. For those who are health conscious there is also a special range of sugar-free and diet chocolates. These are usually bought by corporates or individuals who want to make a special statement.
Extensive range of Baby chocolates are available which are beautifully wrapped in pinks and blues and embellished with decorations like baby bottles, satin ribbons, silk flowers, bibs and bows are also available and are getting very popular in elite classes. Designer chocolates are tailored for customers who’re looking at gifting chocolates with a personalized touch. Embossing of names, logos of companies and personalized message on the chocolates are fast becoming popular. There are 1,000 varieties of designs to choose from — ranging from good luck charms, X’mas figurines and animals — and nearly 50 kinds of gift packaging available to suit any particular occasion. From festive occasions to personal celebrations to corporate
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English Poetry
1st Assignment for Grade 11/12 English POETRY Please read over all three poems below several times. “Hope” is the thing with feathers by Emily Dickinson “Hope” is the thing with feathers — That perches in the soul — And sings the tune without the words — And never stops — at all — And sweetest — in the Gale — is heard — And sore must be the storm — That could abash the little Bird That kept so many warm — I’ve heard it in the chillest land — And on the strangest Sea — Yet, never, in Extremity, It asked a crumb — of Me. 2 Mirror by Sylvia Plath I am silver and exact. I have no preconceptions. What ever you see I swallow immediately Just as it is, unmisted by love or dislike. I am not cruel, only truthful— The eye of a little god, four-cornered. Most of the time I meditate on the opposite wall. It is pink, with speckles. I have looked at it so long I think it is a part of my heart.
But it flickers. Faces and darkness separate us over and over. Now I am a lake. A woman bends over me, Searching my reaches for what she really is. Then she turns to those liars, the candles or the moon. I see her back, and reflect it faithfully. She rewards me with tears and an agitation of hands. I am important to her. She comes and goes.
Each morning it is her face that replaces the darkness. In me she has drowned a young girl, and in me an old woman Rises toward her day after day, like a terrible fish. The Road Not Taken by Robert Frost Two roads diverged in a yellow wood, And sorry I could not travel both And be one traveler, long I stood And looked down one as far as I could To where it bent in the undergrowth; Then took the other, as just as fair, And having perhaps the better claim, Because it was grassy and wanted wear; Though as for that the passing there Had worn them really about the same, And both that morning equally lay In leaves no step had trodden black. Oh, I kept the first for another day! Yet knowing how way leads on to way, I doubted if I should ever come back. I shall be telling this with a sigh Somewhere ages and ages hence: Two roads diverged in a wood, and II took the one less traveled by, And that has made all the difference. ASSIGNMENT After reading through all three poems several times, choose one you feel best able to create a personal response and analysis for.
The personal response should include a discussion of what the poem seems to be about, what you feel the poet’s message is, what ways the poet conveys this message such as style and technique and how the poem makes you feel. Next, please analyze this chosen poem for the literary feature of motif. A motif is a recurring theme, idea, symbol or other literary feature within a given piece of literature. It is important to know that there is rarely only one right answer and so how you support your own interpretation is of upmost importance. Support would therefore include direct evidence from the poem itself. Do not worry if you feel you don’t understand any of these poems at all – try your absolute best with one of them to type approximately one full page. 2nd Assignment English 11/12 Unit: The Things They Carried by Tim O’Brien 1. Please read the background information below for the novel and then follow the assignment instructions at the end of the text. The Things They Carried by Tim O’ Brien The author Tim O’Brien is not unlike the character called “Tim” that he created for his novel, The Things They Carried, as both author and character carry the stories of similarly experienced lives. O’Brien not only shares the same name as his protagonist but also a similar biographical background.
Readers should note and remember that although the actual and fictional O’Briens have some experiences in common, The Things They Carried is a work of fiction and not a non-fiction autobiography. This distinction is key and central to understanding the novel. The Early Years Like “O’Brien,” Tim O’Brien, born William Timothy O’Brien, Jr. , spent his early life first in Austin, Minnesota, and later in Worthington, Minnesota, a small, insulated community near the borders of Iowa and South Dakota. The first of three 4 children, O’Brien was born on October 1, 1946, at the beginning of the post- World War II baby boom era. His childhood was an American childhood. O’Brien’s hometown is small-town, Midwestern America, a town that once billed itself as “the turkey capital of the world,” exactly the sort of odd and telling detail that appears in O’Brien’s work. Worthington had a large influence on O’Brien’s imagination and early development as an author: O’Brien describes himself as an avid reader when he was a child.
And like his other main childhood interest, magic tricks, books were a form of bending reality and escaping it. O’Brien’s parents were reading enthusiasts, his father on the local library board and his mother a second grade teacher. O’Brien’s childhood is much like that of his characters—marked by an all- American kid-ness, summers spent on little league baseball teams and, later, on jobs and meeting girls. Eventually, the national quiescence and ontentment of the 1950s gave way to the political awareness and turbulence of the 1960s, and as the all-American baby boom generation reached the end of adolescence, they faced the reality of military engagement in Vietnam and a growing divisiveness over war at home. Education and Vietnam O’Brien was drafted for military service in 1968, two weeks after completing his undergraduate degree at Macalester College in St. Paul, Minnesota, where he had enrolled in 1964. He earned a bachelor’s degree in government and politics. An excellent student, O’Brien looked forward to attending graduate school and studying political science. During the course of his college career, O’Brien came to oppose the war, not as a radical activist but as a campaign supporter and volunteer of Eugene McCarthy, a candidate in the 1968 presidential election who was openly against the Vietnam War. In 1968, the war in Vietnam reached its bloodiest point in terms of American casualties, and the government relied on conscription to recruit more soldiers. Further, graduate school deferments, which exempted students from the draft, were beginning to be discontinued, though O’Brien did not seek out this recourse. Disappointed and worried, O’Brien—like his character “Tim O’Brien”— spent the summer after his graduation working in a meatpacking plant.
Unlike his character, however, O’Brien passed his nights pouring out his anxiety and grief onto the typewritten page. He believes it was this experience that sowed the seeds for his later writing career: “I went to my room in the basement and started pounding the typewriter. I did it all summer. My conscience kept telling me not to go, but my whole upbringing told me I had to. ” O’Brien hated the war and thought it was wrong, and he often thought about fleeing to Canada. Unlike his fictional alter ego, however, he did not attempt it. 5 Instead, O’Brien yielded to what he has described as a pressure from his community to let go of his convictions against the war and to participate—not only because he had to but also because it was his patriotic duty, a sentiment that he had learned from his community and parents who met in the Navy during World War II. “It’s not Worthington I object to, it’s the kind of place it is,” O’Brien told an interviewer. “The not knowing anything and not tolerating any dissent, that’s what gets to me. These people sent me to Vietnam, and they didn’t know the first thing about it. ” O’Brien ultimately answered the call of the draft on August 14, 1968 and was sent to Army basic training at Fort Lewis, Washington. He was later assigned to advanced individual training and soon found himself in Vietnam, assigned to Firebase LZ Gator, south of Chu Lai. (The appendix of this book includes a map of Vietnam, including areas referred to in the novel. ) O’Brien served a 13-month tour in-country from 1969 to 1970 with Alpha Company, the Fifth Battalion of the 46th Infantry, 198th Infantry Brigade, American Division. He was a regular foot soldier, or, as commonly referred to in veterans’ slang, a “grunt,” serving in such roles as rifleman and radio telephone operator (RTO). He was wounded twice while in service and was relatively safe during the final months of his tour when he was assigned to jobs in the rear. O’Brien ultimately rose to the rank of sergeant. After returning from his tour in March 1970, O’Brien resumed his schooling and began graduate work in government and political science at Harvard University, where he stayed for nearly five years but did not complete a dissertation. The Things They Carried: A brief summary Called both a novel and a collection of interrelated short stories, Tim O’Brien’s The Things They Carried is a unique and challenging book that emerges from a complex variety of literary traditions. O’Brien presents to his readers both a war memoir and a writer’s autobiography, and complicates this presentation by creating a fictional protagonist who shares his name. To fully comprehend and appreciate the novel, particularly the passages that gloss the nature of writing and storytelling, it is important to remember that the work is fictional rather than a conventional non-fiction, historical account. Protagonist “Tim O’Brien” is a middle-aged writer and Vietnam War veteran. The primary action of the novel is “O’Brien’s” remembering the past and working and reworking the details of these memories of his service in Vietnam into meaning. Through a series of linked semi-autobiographical stories, “O’Brien” illuminates the characters of the men with whom he served and draws meaning about the war from meditations on their relationships. He describes Lt. Jimmy Cross as an inexperienced and ill-equipped leader of Alpha Company, both in-country and at a post-war reunion. Years after the war, the two spent an afternoon together remembering their friends and those who were killed. 6 In the introductory vignette, O’Brien describes each of the major characters by describing what they carry, from physical items such as canteens and grenades and lice to the emotions of fear and love that they carry.
After the first chapter, the narrator is identified as “Tim O’Brien,” a middle-aged writer and veteran. “O’Brien” relates personal stories, among them a story that he had never divulged before about how he planned to flee to Canada to avoid the draft. O’Brien,” who spent the summer before he had to report to the Army working in a meatpacking factory, left work early one day and drove toward Canada, stopping at a fishing lodge to rest and devise a plan. He is taken in by the lodge owner, who helps him confront the issue of evading the draft by taking him out on the lake that borders Canada. Ultimately, “O’Brien” yields to what he perceives as societal pressures to conform to notions of duty, courage, and obligation, and he returns home instead of continuing on to Canada. Through the telling of this story, “O’Brien” confesses what he considers a failure of his convictions: He was a coward because he went to participate in a war in which he did not believe. As a writer, O’Brien constantly analyzes and comments upon how stories are told and why they are told.
For example, he tells the story of Curt Lemon’s death and proceeds to analyze and explain why it holds an element of truth. Ultimately, he surmises, “truth in a story is not necessarily due to ‘factual’ accuracy. Instead, if the story affects the reader or listener in a personal and meaningful way, then that emotion is the truth of the story. O’Brien tests these ideas by relating the stories that others told in Vietnam, like the story of a soldier who brought his girlfriend to Vietnam and grows more and more terrified as she becomes fascinated by the war and ultimately never returns home. The soldiers who hear the story doubt its truth, but are drawn into the story nonetheless, showing that factual accuracy is less important to truth than emotional involvement. The recurring memory of the novel that O’Brien recalls as a sort of coda,or repeated image, is the death of his friend and fellow soldier, Kiowa.
Kiowa was a soft-spoken Native American with whom “O’Brien” made a strong connection. The scene of Kiowa’s death in a battlefield becomes the basis for several of the novel’s vignettes: “Speaking of Courage,” “In the Field,” “Field Trip,” and “Notes. ” In each of these, O’Brien recalls snippets of memory and builds an indictment against the wastefulness of the war. In “Speaking of Courage,” the fictional “O’Brien” presents a story that he wrote about a Vietnam comrade named Norman Bowker. O’Brien” describes Bowker’s difficulty adjusting to civilian life after he returns from Vietnam as he recalls his own ease slipping back into the routine of daily life, which for him was graduate school. In the end, in “Notes,” “O’Brien” describes how Bowker suggested that he (“O’Brien”) write a story about a veteran with problems readjusting and intense feelings of survivor guilt. “O’Brien” realizes that he must not have put the memories of Vietnam behind him because he constantly writes about them. Finally, “O’Brien” remembers a girl from his childhood who died from cancer, the first dead body he saw before being in-country. He describes how as a little boy, 7 “Timmy,” he could dream her alive and see and talk to her. He recognizes the similarity of his ability to animate her in his mind and his writing about Vietnam. Contextual Background : The Vietnam War The Vietnam War was also known as the second Indo China war and was fought in Vietnam between 1959 and 1975. It involved the North Vietnamese and the National Liberation front in conflict with United States forces and the South Vietnamese army. The first Indo China war took place between 1946 and 1954, when the Vietnamese struggled for independence from France. At the end of this war the country was temporarily divided into North and South Vietnam.
North Vietnam came under the control of the Vietnamese Communists who had opposed France and wanted Vietnam under communist rule. The south was controlled by non-Communist Vietnamese. The United States became involved in Vietnam because American policy makers believed that if the entire country fell under Communist rule, Communism would spread throughout South East Asia. Therefore, the United States helped create the anti- Communist South Vietnamese government. In 1965 The US sent troops to stop the South Vietnamese government from collapsing. However, the US failed in its goal and in 1976 it became the Socialist Republic of Vietnam.
During the war, approximately 3. 2 million Vietnamese were killed as well as another 1. 5 million Lao and Cambodians. Nearly 58,000 Americans lost their lives. The Troops The first combat troops were mainly volunteers. However, the escalation of the war meant that more draftees were needed. In 1965 about 20,000 men per month were inducted into the military. In 1968 this number had doubled. The average age of these conscripts was 19. Those conscripted were mostly from the poorer sections of US society. They did not have access to the exemptions available to upper and middle class youths. By 1968 it was apparent that the draft system was discriminatory and unfair.
Costs of the War
• The US spent $ 130 billion directly and the same again in indirect costs ( e. g. war widow and veteran benefits)
• Serious inflation in the U. S meant an increase in the cost of living
• 58,000 lost their lives
• 300,000 wounded – half of them seriously
• Many veterans suffered post traumatic stress disorder – 20,000 committed suicide and many suffered anxiety and depression 8 Effects in Vietnam 10% of all bombs failed to explode and continued to kill and maim long after the war ended
• defoliants destroyed 15% of timber resources and led to a serious decline in rice and fish production – main sources of food in Vietnam
• 800,000 orphans created in South Vietnam alone
• 1. 3 million people left the country
• Normal trade relations between Vietnam and the US were finally completed in 2001. Information taken from enotes, yahoo! education and various history documents. 2. Now read the first chapter from the novel The Things They Carried.
• Comment on O’Brien’s writing style. List exactly what the different soldiers carried with them.
• Consider the double entendre (double meaning) of the title.
Explain what the double meaning might be based on the background information and the chapter you have just read. Discuss why the soldiers carry these things?
• Discuss what you think of the novel so far. This written work should be approximately two typed pages and support is necessary for your thoughts/ideas. Remember to draw directly from the background information and novel for your support.
Feel free to continue reading if you would like to. See you soon, Mr. White and Ms. Halverson
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Adidas Future Plan
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Organisational Dynamic Capabilities through
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Organisational Dynamic Capabilities Through. (2017, Sep 23).
Retrieved November 4, 2025 , from
https://studydriver.com/2017/09/page/7/
Hr Environment at Dell
Cite this page
Hr Environment At Dell. (2017, Sep 23).
Retrieved November 4, 2025 , from
https://studydriver.com/2017/09/page/7/
