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Inventory Turnover GROWTH AND EXPANSION OF FMCG WITH SPECIAL REFERENCE TO PROCTOR AND GAMBLE Dissertation submitted to SEETHALAKSHMI RAMASWAMI COLLEGE (AUTONOMOUS AND ACCREDITED BY NAAC) Affiliated to BHARATHIDASAN UNIVERSITY in partial Fulfilment of the requirements for the Award of the degree of MASTER OF COMMERCE (CORPORATE FINANCE) Submitted by K.KASTHURI 12 PCO 007 B.NIVEDHA 12 PCO 013 M.NIVEDHA 12 PCO 014 K.SUDHA 12 PCO 017 R.SURYA 12 PCO 018 Under the guidance of DR.R.LALITHA, M.Com.,M.Phil.,PGDCA.,Ph.D.,M.A(YHE) DR.R.VIJAYALAKSHMI, M.Com.,M.Phil.,Ph.D DEPARTMENT OF COMMERCE SEETHALAKSHMI RAMASWAMI COLLEGE (AUTONOMOUS AND ACCREDITED BY NAAC) TIRUCHIRAPALLI-620 002 MARCH 2013 1 2 ACKNOWLEDGEMENT We express our deep sense of gratitude and sincere thanks to all who motivated us in various ways in the preparation of this project. It is our honour to convey our heartfelt thanks to SEETHALAKSHMI RAMASWAMI COLLEGE (AUTONOMOUS) for having introduced project work in the syllabus which helped to acquire wide experience and knowledge. We express our grateful thanks to DR.(MS) KANAKA BHASHYAM, M.A., M.Phil., PGDJ., Ph.D., the principal of Seethalakshmi Ramaswami College (Autonomous). We take this opportunity to express our gratitude to MRS. M.GUNAVATHI, M.Com., M.Phil., DLL., Ph.D., Head of the Department of Commerce for having encouraged us to complete this project successfully. 3 We wish to acknowledge our indebtedness and deep sense of gratitude to DR.R.LALITHA,M.Com.,M.Phil.,PGDCA.,Ph.D.,M.A(YHE) and DR.R.VIJAYALAKSHMI, M.Com.,M.Phil.,Ph.D for her valuable guidance & suggestions at each and every step of this dissertation’s. We extend our thanks to our parents, friends and all the teaching faculties for their co-operation and support. We could be failing our duty if we do not thank GOD, the ALMIGHTY who is the author of all our inspiration and enthusiasm to complete our study successfully. 4 CONTENT CHAPTER PARTICULARS PAGE NO. I. INTRODUCTION 6 II. COMPANY PROFILE 17 III. ANALYSIS OF P& G ON 35 VARIOUS HEADS 5 IV. SUSTAINABILITY 96 V. RECOMMENDATION AND 102 SUGGESTION 6 CHAPTER – I INTRODUCTION Meaning of FMCG 7 FMCG stands for Fast Moving Consumer Goods. It is also referred to on occasion as CPG, an abbreviation of Consumer Packaged Goods. They are described as being reasonably low cost items that are supplied and sold in a very short time period - often these types of products have a short shelf life, hence having a short sale time. FMCG's are often bought in bulk to take advantages of economies of scale - due to their low price, profit margins are often small so the sale of large quantities over a short period of time is vital to make worthwhile. FMCG's can be split into highly perishable and non-highly perishable goods. Highly perishable goods include meats, vegetables, fruit, and bakery items - anything that has a reasonably short shelf life. In contrast, products such as wine, beer and spirits, canned foods and toiletries have a longer shelf life and do not perish quickly. Nonetheless, these products are in high demand and as a result product turnover is high; they do not spend long on the supermarket shelves. Fast Moving Consumer Goods are recognised as being a frequent consumer purchase, and what that involves a low level of risk and/or emotion. Characteristics of FMCGs: From the consumers' perspective: Frequent purchase Low involvement (little or no effort to choose the item – products with strong brand loyalty are exceptions to this rule) Low price From the marketers' angle: High volumes Low contribution margins Extensive distribution networks High stock turnover 8 FMCG CATEGORY AND PRODUCTS Category Products Household care Fabric wash (laundry soaps and synthetic detergents); household cleaners (dish/utensil cleaners, floor cleaners, toilet cleaners, air fresheners, insecticides and mosquito repellents, metal polish and furniture polish Food and health beverages Soft drinks; staples/cereals; Beverages bakery products (biscuits, bread, cakes);food; chocolates; ice cream; tea; coffee; soft drinks; processed fruits, vegetables; dairy products; bottled water; branded flour; branded rice; branded sugar; juices etc. Personal care Oral care, hair care, skin care, personal wash(soaps ); cosmetics and toiletries; deodorants; Perfumes; feminine hygiene; 9 SWOT analysis of FMCG Strengths: Low operational costs Presence of established distribution networks in both urban and rural areas Presence of well-known brands in FMCG sector Weaknesses: • Lower scope of investing in technology and achieving economies of scale, especially in small sectors • Low exports levels • "Me-tooʺ products, which illegally mimic the labels of the established brands. These products narrow the scope of FMCG products in rural and semi-urban market. Opportunities: • Untapped rural market • Rising income levels, i.e. increase in purchasing power of consumers • Large domestic market- a population of over one billion. • Export potential • High consumer goods spending 10 Threats: • Removal of import restrictions resulting in replacing of domestic brands • Slowdown in rural demand • Tax and regulatory structure TOP 10 FMCG COMPANIES IN INDIA FMCG (Fast Moving Consumer Goods) or Consumer Packaged Goods (CPG) – are products that are sold quickly and at relatively low cost. Below is a List of Top 10 FMCG Companies in India 2012. 1. ITC (Indian Tobacco Company) 11 Market Capitalization – (Rs. Crore): 151,078 It presence in FMCG, Hotels, Paper boards & Specialty Papers, Packaging, Agri-Business, and Information Technology.ITC Ltd, traditional businesses of Cigarettes, Hotels, Paperboard’s, Packaging and Agri-Exports. 2. HINDUSTAN UNILEVER Market Capitalization – (Rs. Crore): 67,858 India’s largest consumer products with products such as soaps, tea, detergents and shampoos with over 700 million Indian are using its products. 3. NESTLE INDIA Market Capitalization – (Rs. Crore): 39,819 12 A subsidiary of Nestlé S.A. of Switzerland. A largest food and beverage manufacturer in the world with many popular and largest selling products such as MAGGI, NESCAFE, KITKAT and MILKMAID. 4. DABUR INDIA Market Capitalization – (Rs. Crore): 18,632 They has 17 ultra modern manufacturing units around the globe and its products marketed in over 60 countries. 5. GODREJ CONSUMER PRODUCTS Market Capitalization – (Rs.Crore): 13,335 A Household, hair colors, household insecticides and Personal Care Products. 6. P&G (Proctor and Gamble India) Market Capitalization – (Rs. Crore): 12,838 Acquisition by Gillette. 13 7. COLGATE- PALMOLIVE Market Capitalization – (Rs.Crore): 12,764 The leading Tooth Paste Brand in India. 8. GSK (Glaxosmithkline Consumer Healthcare) Market Capitalization - (Rs.Crore): 9,842 A pharmaceutical industry and over 100,000 employees Worldwide. 14 9. MARICO Market Capitalization - (Rs.Crore): 9,078 And the company present in more than 25 countries across Asia and the African continent. 10. EMAMI Market Capitalization - (Rs.Crore): 6,836 And over 20,000 employees. Products are paper , writing instruments, edible oil and cultivation, bio-diesel, hospitals, contemporary art, pharmacy, cement, real estate and retail. 15 BENEFITS OF FMCG COMPANIES Cumulative Profits For a retailer's bottom line, the key benefit of CPGs/FMCGs is the cumulative profit they provide. CPGs/FMCGs have a low profit margin, which means that a small percentage of each each unit sale represents profit. However, CPGs/FMCGs also sell in very high quantities. This means that those small profits add up and can form a significant portion of a retailer's total profits for a fiscal period. This profit serves any number of financial purposes in the business. Cross Merchandising Opportunities Retailers thrive when customers buy multiple items on each visit. CPGs/FMCGs provide opportunities for cross merchandising, which occurs when a business places two products from different categories close to one another in a strategic arrangement. For example, an electronics retailer may sell remote controls that have high profit margins but don't fall into the CPG/FMCG category. A shelf of batteries (which are CPGs/FMCGs) next to those remotes provides a chance to boost sales and earn profit on two items when customers choose to buy the batteries they will need to operate their new remotes at the same time. Brand Appeal When a retailer offers CPGs/FMCGs, it can rely on the brand appeal that they generate to drive sales. Most CPGs/FMCGs come from brands that advertise heavily. This means that when customers see CPGs/FMCGs on store shelves they have pre-existing emotional relationships with those brands, which may not be true of the other items that the retailer sells. Seeing recognizable brands may build trust between the customer and retailer or lead to an additional purchase based on brand awareness, with no special effort from the retailer. Diversification Selling CPGs/FMCGs spreads a retailer's revenue sources over a broader spectrum of goods. The profits can help offset slow sales for other products during seasonal dips in 16 demand or periods of reduced consumer confidence. In the category of CPGs/FMCGs, retailers can choose from among an almost unlimited range of product types including pharmaceuticals, food items, beverages, household products and disposable items. The range is so broad that some retailers, such as grocery stores and convenience markets, stay in business selling them exclusively. Characteristics of FMCG in India Branding: Creating strong brands is important for FMCG companies and they devote considerable money and effort in developing bands. With differentiation on functional attributes being difficult to achieve in this competitive market, branding results in consumer loyalty and sales growth. Distribution Network: Given the fragmented nature of the Indian retailing industry and the problems of infrastructure, FMCG companies need to develop extensive distribution networks to achieve a high level of penetration in both the urban and rural markets. Once they are able to create a strong distribution network, it gives them significant advantages over their competitors.
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