Chapter-1 Introduction
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CHAPTER-1 INTRODUCTION INTRODUCTION: In this research I have surveyed the product performance and buying behavior of two famous brands of chocolates – Nestle and Cadbury, which are consumed by people of all ages. During this research I have interacted with people. After this research I came to know how people perceives these products on the variables like price, quality, advertisement, satisfaction, taste, packaging, brand loyalty etc. I also came to know which particular brand of chocolate is most preferred by people of different age groups. In this research I have surveyed that how frequently and how much chocolate they consume, whether they buy small, big or family pack. Trend of ongoing changes in their likings has been shown in the report. In this report I have tried to explain the entire research and facts product wise. CONSUMER PREFERENCES All marketing starts with the consumer. So consumer is a very important person to a marketer. Consumer decides what to purchase, for whom to purchase, why to purchase, from where to purchase, and how much to purchase. In order to become a successful marketer, he must know the liking or disliking of the customers. He must also know the time and the quantity of goods and services, a consumer may purchase, so that he may store the goods or provide the services according to the likings of the consumers. Gone the days when the concept of market was let the buyer’s beware or when the market was mainly the seller’s market. Now the whole concept of consumer’s sovereignty prevails. The manufacturers produce and the sellers sell whatever the consumer likes. In this sense, “consumer is the supreme in the market”. As consumers, we play a very vital role in the health of the economy local, national or international. The decision we make concerning our consumption behavior affect the demand for the basic raw materials, for the transportation, for the banking, for the production; they effect the employment of workers and deployment of resources and success of some industries and failures of others. Thus marketer must understand this. Preference (or "taste") is a concept, used in the social science, particularly economics. It assumes a real or imagined "choice" between alternatives and the possibility of rank ordering of these alternatives, based on happiness, satisfaction, gratification, enjoyment, utility they provide. More generally, it can be seen as a source of motivation. In cognitive sciences, individual preferences enable choice of objectives/goals. The study of the consumer preference not only focuses on how and why consumers make buying decision, but also focuses on how and why consumers make choice of the goods they buy and their evaluation of these goods after use. So for success of any company or product promotion it is very necessary to depart its concentration towards consumer preference. SCOPE OF THE STUDY As learning is a human activity and is as natural, as breathing. Despite of the fact that learning is all pervasive in our lives, psychologists do not agree on how learning takes place. How individuals learn is a matter of interest to marketers. They want to teach consumers in their roles as their roles as consumers. They want consumers to learn about their products, product attributes, potential consumers benefit, how to use, maintain or even dispose of the product and new ways of behaving that will satisfy not only the consumer’s needs, but the marketer’s objectives. The scope of my study restricts itself to the analysis of consumer preferences, perception and consumption of Cadbury and Nestle Chocolates. There are many other brands of chocolates available but my study is limited to two major players of chocolates leaving behind the others. The scope of my study is also restricts itself to RAIPUR region only. CHAPTER- 2 RESEARCH METHODOLOGY This chapter describes the methodology of the study. This project is based on information collected from primary sources. After the detailed study, an attempt has been made to present comprehensive analysis of consumption of Cadbury and nestle chocolates consumed by the people. The data had been used to cover various aspects like consumption, consumer’s preference and customer’s satisfaction regarding Cadbury and Nestle chocolates. In collecting requisite data and information regarding the topic selected, I went to the residents of Ludhiana and collected the data. Survey design: The study is a cross sectional study because the data were collected at a single point of time. For the purpose of present study a related sample of population was selected on the basis of convenience. Sample Size and Design: A sample of 100 people was taken on the basis of convenience. The actual consumers were contacted on the basis of random sampling. Research Period: Research work is only carried for 2 or 3 weeks. Research Instrument: This work is carried out through self-administered questionnaires. The questions included were open ended, dichotomous and offered multiple choices. Data Collection: The data, which is collected for the purpose of study, is divided into 2 bases: Primary Source: The primary data comprises information survey of “Comparative study of consumer behavior towards Nestle and Cadbury chocolates”. The data has been collected directly from respondent with the help of structured questionnaires. Secondary Source: The secondary data was collected from internet, References from Library. Data Analysis: The data is analyzed on the basis of suitable tables by using mathematical techniques. The technique that I have used is bar technique. OBJECTIVES OF THE STUDY This project is based on the comparative study consumer behavior towards Nestle and Cadbury chocolates. Objectives of the study are: The other objective is to know about the customer satisfaction level associated with the product and the customer preference level. To increase customer satisfaction and recapture the market share by fulfilling the customer needs. To study the factors affecting the consumption pattern. LIMITATIONS OF THE STUDY In attempt to make this project authentic and reliable, every possible aspect of the topic was kept in mind. Nevertheless, despite of fact constraints were at play during the formulation of this project. The main limitations are as follows: Due to limitation of time only few people were selected for the study. So the sample of consumers was not enough to generalize the findings of the study. The main source of data for the study was primary data with the help of self-administered questionnaires. Hence, the chances of unbiased information are less. People were hesitant to disclose the true facts. The chance of biased response can’t be eliminated though all necessary steps were taken to avoid the same people refer to buy big pack of their favorite chocolate, and sometimes some of them go for small and family pack CHAPTER-3 COMPANY PROFILE Chocolate The very word makes your mouth water. Chocolate is more than just a food: it’s a state of mind. History of chocolate: The origin of chocolate can be traced back to the ancient Maya and Aztec civilizations in Central America, who first enjoyed “chocolati” a much-prized spicy drink made from roasted cocoa beans. Throughout its history, whether as cocoa or drinking chocolate beverage or confectionary treat, chocolate has been a much sought after food. First chocolate for eating Up until this point all chocolate recipes were based on plain chocolate. It was an English doctor, Sir Hans’s sloane, who- after traveling in south America- focused on cocoa and food values, bringing a milk chocolate recipe back to England. The original Cadbury milk chocolate was prepared to his recipe. Chocolate as we know it The first mention of chocolate being eaten in solid form is when bakers in England began adding cocoa powder to cakes in the mid 1600’s. Then in 1828 a Dutch chemist, Johannes van houten, invented a method of extracting the bitter tasting fat or “cocoa butter” from the roasted ground beans, his aim was to make the drink smoother and more palatable, however he unknowingly paved the way for solid chocolate as we know it. CHOCOLATE PRODUCTION The cocoa-bean -- the heart of the sweetest delicacy in the world -- is bitter! This is why, up to the 18th century some native tribes ate only the sweetish flesh of the cocoa fruit. They regarded the precious bean as waste or used it, as was the case among the Aztecs, as a form of currency. The Varieties: There are two quite different basic classifications of cocoa, under which practically all varieties can be categorized: Criollo and Forester cocoas. The pure variety of the Criollo tree is found mainly in its native Equador and Venezuela. The seeds are of finer quality than those of the Forastero variety. The Harvest Immediately after harvesting, the fruit is treated to prevent it from rotting. At fermentation sites either in the plantation or at, collecting points, the fruit is opened. Fermentation The fermentation process is decisive in the production of high quality raw cocoa. The technique varies depending on the growing region. Drying After fermentation, the raw cocoa still contains far too much water; in fact about 60%. Most of this has to be removed. What could be more natural than to spread the beans out to dry on the sun-soaked ground or on mats? After a week or so, all but a small percentage of the water has evaporated. Cleaning Before the real processing begins, the raw cocoa is thoroughly cleaned by passing through sieves, and by brushing. Finally, the last vestiges of wood, jute fibres, sand and even the finest dust are extracted by powerful vacuum equipment. Roasting The subsequent roasting process is primarily designed to develop the aroma.