CHAPTER - I

INTRODUCTION

S. No. CONTENTS
1 Introduction

1.1 Research Background

1.2 FMCG

1.3.1 Country Profile: India

1.3.2 Indian FMCG Market Overview

1.3.4 Selected FMCG brands in context of this Research

1.3.5 Rationale of selecting FMCG sector

1.4 Marketing Strategies

1.5 Promotion
1.6 Brand

1.6.1 Brand Stretch

1.7 Organization of Thesis

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 Chapter 1

Introduction

The chapter outlines the research background, the rationale for the research, fast
moving consumer goods market context, Indian FMCG Market overview, basics
of Marketing strategies, Promotion, brand, brand Stretch and organization of
thesis.

1.1 Research Background

“Research is like motorway lights; it can’t tell you where to go but it can
reduce the risk in how you get there”. “Research is formalized curiosity, it is
poking and prying with a purpose”- Zora Neale Hurston. This research is very
much an outcome of my curiosity about marketing dynamics, about why certain
brand stretches excel and others just fail to cope up? Is it necessary for a marketer
to build a complete new support for a new product launch or can he /she leverage
the current success and ride on it and many such related questions. For decades,
researchers have been involved in studying Brands and finding answers to the
question of "why some Brands achieve higher performance than other?” The
overwhelming interest of academic researchers in this question resulted in a rich
but fragmented research that presents some paradigms that claim to be the
answer to the question.

Different factors contribute to the fragmentation and richness of the marketing

literature on this issue. Hofer and Schendel (1985) highlight this complexity by
pointing out the large number of variables that can have a potential influence on
Brand's performance.

Aaker (1991) is of the view that establishing and managing brand should not be
taken to be the core operating target for most industries but should also be seen
as a source of competitiveness. In other words, value is added to a brand when
the brand is able to compete successfully with other brands.

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In today’s cut throat brand war environment where the customer has got
remarkable options for choosing brands, it is a very demanding mission for a
marketer to draw new and hold on to the old customer-base. To achieve this goal
the marketer uses various types of marketing strategies to place their offering in
the mental framework of the customer and set up their positive brand reputation
in the market.

Marketing strategies is a process or model to allow a company or organization

to focus limited resources on the best opportunities, to increase sales and thereby
achieve a sustainable competitive advantage, Kazoo Associates. The marketer
should discover what the consumers desire to buy and are ready to pay up to
what extent. This can be done through effective research by studying the
Markets, trends, consumer preferences, tastes, likes, dislikes and also past data
like the success factors of related brands, studying the competitors, being aware
of sales numbers of similar and related products, market shares, empty spaces in
Market and many other factors. After understanding the Market, the marketer
will be able to build a better product and subsequently a better brand by effective
positioning. What possibly in the world would be better than bearing fruits of an
already sown tree rather that planting a new one altogether, in other words why
not use your existing, already established brand instead of establishing a new
one. This is when Brand stretch comes into picture, marketers are preferring
Brand extensions over new launches as not only it saves them a lot of cost, time,
effort and other resources but also it helps them to capture a higher market share:
“A Brand Stretch has five times more likelihood of success compared to all new
launches”: Neilson featured insights,2013.

Extending brands have become increasingly important in the last decade of

consumerism as new product launches have gone up substantially. Moreover, a
weak economic environment and inflationary pressures are forcing CEOs and
marketers to come up with innovative ways and means to search for profitable
growth. A Nielsen survey across a sample of India Inc. has found that marketers
have today realized that having fewer but larger brands makes a lot more

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business sense. This shift is visible as many companies have caught the brand
stretching bug, seeing it as a cheaper and less risky way compared to creating
new brands. It also suggests that stronger parent Brands Beget stronger spin –
offs and also that stretches are more successful in highly fragmented categories
instead of broader ones. It even states that stronger parent Brands Beget stronger
spin –offs.

But Market history has also seen many successful Names failing terribly in lieu
of chasing this convenient, leveraging option: like: Dabur’s Real Milk shakes,
Rasna’s carbonated fruit juices or Dove Facial cleanser, Dove facial moisturizer,
Dove hair serum , to name a few. So what is it that makes an extension click or
fade? In this study, an effort is made to discover the various aspects that the effect
the success or failure of Extensions in the marketplace and also to try to device
a standard Model for marketers so they can venture out to brand extensions
successfully.

Conclusively speaking Brand stretching can prove to be the most efficient and
effective way to launch new product and services by and established brand, only
when done vigilantly. Thus the study aims at identifying those factors which will
affect the success of extensions and to further make the study more focused, the
study would delve into promotion aspect primarily.

1.3 FMCG
FMCG industry synonymously also known as CPG (Consumer packaged
goods) industry largely deals with production, distribution and marketing of
consumer packaged goods. The Fast Moving Consumer Goods (FMCG) is those
products which are regularly consumed by the consumers at a frequent interval
like: shampoos, crème, washing powder, tooth paste, etc. Key activities of
FMCG sector are selling, marketing, financing, purchasing, etc. The sector is
also engaged in operations, supply chain, production and general management.
Broadly speaking consumer products are divided into four categories on the basis
of various purchasing behavior of the consumers, namely:

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 1. Convenience products
2. Shopping products
3. Specialty products
4. Unsought products.
Convenience product: The products or services which are purchased very
frequently, instantaneously and without a lot of comparison or buying effort for
eg: laundry detergents, fast food, sugar and magazines. They are generally low-
priced and distributed extensively to make them available whenever needed by
consumers.
Shopping products: The products or services which the consumer compares on
various aspects such as price, quality, style etc and then selects thus spending
more time and effort come under this type, for eg: furniture, used cars, clothing,
, airline services etc. This category needs more sale support and limited outlets
also suffice.
Specialty products: Consumer products with unique characteristics or Brand
recognition fall under this category where in the consumer make special effort
for example: specific cars, professional and high-prices photographic equipment,
designer clothes etc. A perfect example for these types of consumer products is
Ferrari.
Unsought products: products about which the consumer does not know or in
general doesn’t think of buying. Such products are purchased mostly due to
danger or the fear of danger and lack of desire. The typical examples of unsought
goods are funeral services, encyclopedias, fire extinguishers and reference
books.
FMCG falls under the first category of consumer products that is the convenience
product and as the nature of the category suggests: it needs extensive marketing
support , supply network and support.

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FMCG goods can be further divided into three categories:
• Staple goods: Those goods that are bought regularly such as bread, milk,
sugar, rice, etc
• Impulse goods: Those goods that need no advance purchase planning and
are bought out of stimuli like: candy, snacks, newspapers, etc.
• Emergency goods: These goods are essential consumables that are
generally purchased quickly in case of emergency such as candles,
lighters, umbrellas, batteries, flashlights.
In context of Market, FMCG goods are divided into below given
categories as shown in the graph:

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The FMCG sector has scaled up from US$ 31.6 billion in2011 to US$52.75
billion in 2017-2018. The sector is further anticipated to grow at a Compound
Annual Growth Rate (CAGR) of 27.86 per cent to reach US$ 103.7 billion by
2020. The sector is projected to grow 11-12 per cent in 2019.

Common FMCG products

Food and dairy products, glassware, paper products, pharmaceuticals, consumer
electronics, packaged food products, plastic goods, printing and stationery,
household products, photography, drinks etc. are examples of common FMCG
product categories and coffee, tea, dry cells, greeting cards, gifts, detergents,
tobacco and cigarettes, watches, soaps ,shampoos etc are examples of common
FMCG products.

Leading FMCG companies

Nestle, Jhonson & Jhonson, Procter & Gamble, Pepsi, Unilever, AB InBev,
Coca Cola, JBS, Phillip Morris and L'Oreal are the TOP 10 companies
internationally in FMCG sector. In Indian Market , the popular FMCG
companies are as follows: HUL, Marico, Patanjali, P& G, ITC, Parle Agro,
Dabur, Nestle, Reckitt Benckiser, Britania , etc.

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 1.3.1 Country Profile: India

India is the world's largest democracy and, according to BBC, it is emerging

as a rising economic powerhouse , India has become known as an important
regional power. But at the same time it is also facing huge, social, economic and
environmental problems.
India has been home to a number of the world's most ancient surviving
civilizations, the Indian subcontinent - from the mountainous Afghan frontier to
the jungles of Burma and the coral reefs of the Indian Ocean –India is both
enormous and diverse in terms of people, language and cultural traditions.

Republic of India
Capital: New Delhi
• Population 1.3 billion
• Area 3.1 million sq km (1.2 million sq miles), excluding Kashmir
• Major languages Hindi, English and more than 20 other official languages
• Major religions Hinduism, Islam, Christianity, Sikhism, Buddhism
• Life expectancy 67 years (men), 70 years (women)
• Currency Rupee

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 India as a lucrative investment Destination:

Incomes have augmented at a fast pace in India and will continue so given the
country’s strong economic development prospects. Per capita income is expected
togrow ata CAGR of 4.94per cent during 2010-19F.

• India's GDP per capita at Current prices is expected to increase form US$
1,481.56 in 2012 to US$ 3,273.85 in 2023.

• An important Consequence of rising incomes is growing appetite for

premium products, primarily in the urban segment.

• As the proportion of 'working age population' in total population

increases, per capita income and GDP are expected to surge.

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Source: IMF World Economic Outlook Database April 2018

POLICY AND REGULATORY FRAMEWORK

Union Budget

The standard deduction of Rs 40,000 (US$ 618) on account of transport

allowance and reimbursement of various medical expenses will amplify the
disposable income with common public. The imposing of customs duty on
import of FMCG products such as shaving and after-shave lotions, fruit and

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vegetable juices, edible oils of vegetable origin will lead to a rise in domestic
sector.

GST

GST reforms have positively changed the picture of FMCG sector. Major
production giants of commercial goods sector are restructuring their supply chain
mechanisms, warehousing arrangements and Information technology
infrastructure in line with the GST schedule in order to ensure smooth and hassle
free interstate movement of products. PepsiCo, HUL, Dabur, Marico, are few
such companies which have realigned their systems as per GST.

The Modern retail stores have witnessed a price drop on FMCG items up to 3-8
percent as an after effect of GST implementation, Goods like detergents, soaps,
shampoos, quick foods, biscuits, snacks etc are the ones to enjoy price slump.
The GST is about to improvise logistics in the FMCG sector into a contemporary
and competent model as all major corporations are restructuring their operations
into larger warehousing and supply chains.

An estimated drop of 25-30 percent is expected in the warehousing cost of

FMCG companies in light of the new GST Regime and its implementation. The
sizes of the warehouses will increase and the numbers will decrease dramatically
from 45-50 to 25-30, resulting in cost reduction. Many of the FMCG items have
benefitted drastically as their tax slabs have tumbled down to 18 percent which
were 23-24 per cent earlier; Hair oil, soap, tooth paste are few such products.

FSB: Food Safety Bill

FSB would decrease prices of food grains in favor of Below Poverty Line (BPL)
households, enabling them to spend income on other goods and services,
counting FMCG products. This is anticipated to elicit higher consumption
expenditure, predominantly in rural India, which is an imperative market for
many FMCG companies. There has been an increasing trend noticed about

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inclination of rural publics towards FMCG items which will further get a boost
with this bill.

FDI: Foreign Direct Investment

The government approved 100 percent FDI in Cash and carry segment and in
single brand retail, also 51 per cent FDI in multi-brand retail in 2006, which will
further enhance the emerging organized retail market in the country.

Source: DIPP and media articles

100 per cent FDI is permissible in food processing and single-brand retail and
up to 51 per cent in the category of multi-brand retail. This will boost
employment and logistics, and also give high visibility for FMCG brands in
organized retail markets, increasing consumer spending and encourage more
product launches. As seen in the graph the sector observered vigorous FDI
inflows of US$ 13.99 billion for the period of April 2000 to September 2018.

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Food processing, being the largest recipient; its share amounting to 63.13 per
cent. Investment intents, related to FMCG sector, arising from paper pulp, sugar,
fermentation, food processing, vegetable oils and vanaspathi, soaps, cosmetics
and toiletries industries, worth Rs 198.88 billion (US$ 2.76 billion) were
implemented between January–November 2018.

Self Employment and Talent Utilization (SETU)

Government has started Self Employment and Talent Utilization (SETU) scheme
to encourage young entrepreneurs. US$ 163.73 million have been invested under
this scheme. SETU Scheme Source: SBI

Relaxation of license rules

Industrial license is not necessary for almost all food and agro-processing
industries, excluding certain products such as beer, potable alcohol and wines,
cane sugar and hydrogenated animal fats and oils as well as items held in reserve
for exclusive produce in the small-scale sector only.

13.2 Indian FMCG Market Overview

FMCG stands on the 4th pedestal amongst sectors in the Indian economy. India's
household and personal care is the leading segment, according for 50 per cent of
the overall market. healthcare (31 per cent) and food and beverages (19 per cent)
comes next in terms of market share. Growing awareness, easier access and
changing lifestyles have been the key growth drivers for the sector. The number
of online users in India is likely to cross 850million by 2025. In April 2018, Mr.
Acharya Balkrishna, CEO of Patanjali announced that the company is generating
Rs. 10-15 crore (US$ 14,916.47 – 23,274.70 million) through its online business.
Retail market in India is a estimated to reach US$ 1.1 trillion by 2020 from US$
840 billion in 2017, with modern trade expected to grow at 20 per cent -25 per
cent per annum, which is likely to boost revenues of FMCG companies. In 2018,
e-commerce segment contribution is projected to be around 1.3 per cent of the
overall branded packaged.

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Source: Indian Brand Equity Foundation,2018

Achievements by government in FMCG

Following are the accomplishments of the government in the past four years
(2014-2018):

• Number of mega food parks ready amplified from 2 between 2008-14 to

13 between 2014-18.

• Preservation and processing capacity improved from 308,000 during

2008-14 to 1.41 million during 2014-18.

• The quantity of food labs augmented from 31 during 2008-14 to 42 during

2014-18.

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Source : Economic Times

Urban Market Accounts For Major Portion Of Revenues

Urban segment accounts for a revenue share of around 55 per cent, the largest
contributor to the overall revenue breed by the FMCG sector in India. Rural
segment is rising at a fast pace and accounts for a revenue share of 45 per cent
in the overall revenues of FMCG sector in India. 50 percent of the total rural
spending is on FMCG products. In the past years, the rate of growth of rural
Indian market is higher than that of urban India. In 2018-19, revenues from the
rural sector are further expected to raise up to 15-16 per cent and probably then
will cross the market space coverage of urban markets. Requirements for quality
products have risen up in rural areas of India, on the grounds of improved
distribution channels of manufacturing and FMCG companies. FMCG urban
sector is anticipated to have a stable revenue growth at 8 per cent in FY19.

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Source: BCG, KPMG- indiaretailing.com, Deloitte Report, Winning in India’s Retail Sector,
CRISIL, State Bank of India, CRISIL report.

Rural Segment on The Rise

In FY18 rural India shares 45 per cent of the total Indian FMCG market. Rural
income amounts to around US$ 572 billion currently and is expected to reach
US$ 1.8 trillion by FY21. India’s rural per capita disposable income is estimated
to increase at a CAGR of 4.4 per cent to US$ 631 by 2020. With the rising
income levels, there is the sharp trend upwards of increase in expenditure, in
rural areas. The Fast Moving Consumer Goods (FMCG) sector in rural and semi-
urban India is estimated to cross US$ 220 billion by 2025. The revenue of
FMCG’s rural sector is projected to grow to 15- 16 per cent in FY19 from
probable 10 per cent in FY18.

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Note: F-Forecast, 2018* - Data relates to the financial year FY18
Source: AC Nielsen, Dabur Reports, Godrej Group, McKinsey Global Institute, CRISIL

Catalysts for FMCG growth in India:

Shift to organized Markets: - Organized sector growth is expected to grow as the

share of unorganized market in the FMCG sector fall with increased level of
brand consciousness. Growth in modern retail will augment the growth of
organized FMCG sector. Post GST and demonetization, modern trade share
grew to 10 per cent of the overall FMCG revenue, as of August 2018.

Increased penetration: Low penetration levels of branded products in categories

like instant foods indicating a scope for volume growth  Investment in this
sector attracts investors as the FMCG products have demand throughout the year.

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Growing Online Users Boost up Online FMCG Sales
India’s growing internet infiltration, intensifying digital ripeness along with
developing infrastructure has helped enhance online transactions. The online
FMCG market is forecasted to reach US$ 45 billion in 2020 from US$ 20 billion
in 2017, backed by increase in online users from 90 million in 2017 to 200
million in 2020E. By 2020, about 40 per cent of FMCG expenditure is estimated
to be digitally effected.

Note: E is Estimated Source: Google and BCG report

Easy access: Availability of FMCG goods has become way more convenient as
internet and various channels of sales has made the ease of access of desired
product to customers more accessible at required time and place. Online grocery
stores and online retail stores like Grofers, Flipkart, Amazon making the goods
more eagerly available .

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Increased penetration: Rural expenditure has increased, led by amalgamation
of rising incomes and elevated aspiration levels, there is an augmented demand
for branded products in rural India thus India has a huge untapped rural market.

Key Mergers and Acquisitions in the FMCG Sector

1.3.3 Selected FMCG brands in context of this Research

1. Parachute: Marico
Marico Limited is one of India's foremost FMCG companies operating in the
beauty and wellness space. Currently operating in 25 countries across budding
markets of Asia and Africa, Marico has fostered many brands in the categories
of hair care, skin care, edible oils, health foods, male grooming, and fabric care.
Marico's India business markets hold brands such as Parachute, Parachute
Advansed, Saffola, Hair & Care, Nihar, Nihar Naturals, Livon, Set Wet, Mediker
and Revive among others that add value to the life of 1 in every 3 Indians. The

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International business contain unique brands such as Parachute, HairCode,
Fiancée, Civil, Hercules, Black Chic, Isoplus, Code 10, Ingwe, X-Men and
Thuan Phat that are customized locally to fulfill the lifestyle requirements of our
international consumers. Charting an annual turnover of INR 63 billion
(Financial Year 2017 - 2018) across our assortment. A market leader in its
category and one of our oldest brands, Parachute Coconut Oil today stands for
purity and quality. Over the years, the brand has seen a lot of advancements in
packaging, sizing and tamper-proofing. Parachute enjoys massive loyalty in
urban, semi-urban and rural market. Parachute Advanced Body Lotion has been
skillfully developed with a advance formulation having 100% natural
moisturizers Parachute Advanced Body Lotion is currently available in the
following variants: Parachute Advanced Soft Touch, Parachute Advanced Deep
Nourish, Parachute Advanced Refresh (2012),Parachute Advanced Butter
Smooth Parachute Summer Refresh Lotion Spray.

Safola, /Marico: Saffola, another Marico family brand is a health care brand
which has a range of everyday healthy Foods and Services .Saffola earlier had a
range of healthy heart oils only then it stretched its wings in the category of oats.
Saffola Masala Oats are flavored along with real vegetables and masalas.

Dove, HUL:
Dove is a brand of Hindustan Unilever in India, it has its existence in 80 countries
across the world, with a range of superior products from bar, lotions, body
washes, face care and creams. It is one of the top soap bar brand in UK, US and
Canada, it is also the fastest growing brand in hair care sector, in India. HUL is
having its hold from past eighty years in India, Ninety percent of Indian
households use HUL products in some or the other way.

It has over thirty five brands in twenty different product categories like: as soaps,
detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee,
packaged foods, ice cream, and water purifiers, the Company is a part of the
everyday life of millions of consumers across India. Its portfolio includes leading

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household brands such as Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair & Lovely,
Pond’s, Vaseline, Lakmé, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe,
Brooke Bond, Bru, Knorr, Kissan, Kwality Wall’s and Pureit. The Company has
about 18,000 employees and has a sales of INR 34619 crores (financial year
2017-18). HUL is a subsidiary of Unilever, one of the world’s leading suppliers
of Food, Home Care, Personal Care and Refreshment products with sales in over
190 countries and an annual sales turnover of €53.7 billion in 2017. Unilever has
over 67% shareholding in HUL.

- MAGGI Cup-a-licious Soups are the range of single serve soups in

Instant Format. Each flavour of MAGGI Cup-a-licious Soups, while
retaining the classic taste, has a contemporary
twist that makes it truly unique. MAGGI Cup-a-licious Soups are
available in the following 6 unique flavours:
- Tomato Margherita
- Winter Vegetables with Ginger
- Vegetable with Chilli Pepper
- Green Pea with Coriander
- Dal Shorba with Roasted Garlic
- Cream of Corn with Pepper

Dabur gulabari crème

Dabur India Ltd is one of India’s leading FMCG Companies with Revenues of
over Rs 7,680 Crore & Market Capitalisation of over Rs 48,800 Crore. Building
on a legacy of quality and experience of over 133 years, Dabur is today India’s
Most Trusted Name and the World’s Largest Ayurvedic and Natural Health Care
Company.

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Bournvita

Bournvita is our core product and we wanted to leverage its competitive

advantage in the biscuit segment, informed Chella Pandyan, Associate Director,
Marketing, Biscuits India and Kids Fuel AP, Mondelez India. Mondelez India
on Tuesday launched its second biscuit brand Cadbury Bournvita Biscuits in
India. Bournvita is our core product and we wanted to leverage its competitive
advantage in the biscuit segment, informed Chella Pandyan, Associate Director,
Marketing, Biscuits India and Kids Fuel AP, Mondelez India. Bournvita Biscuits
is the company's second brand in the biscuits category after Oreo, which was
launched five years back, in 2011.

Santoor

Wipro Consumer Care business includes soaps, toiletries, personal care products,
baby care products, wellness products, electrical wire devices, domestic and
commercial lighting and modular office furniture. We have a strong brand
presence with significant market share in identified segments. In addition, we
have a strong presence in the personal care and skin care products market in
South-East Asia and Middle-East.

Wipro Consumer Care organic growth has been led by growth in toilet soaps,
domestic and institutional lighting and office furniture. It has gained Global
footprint with acquisition of Unza, Yardleyand LD Waxsons. The key brands
include – Santoor (a Toilet soap brand with extensions in talcum powder,
Handwash, Facewash, Body Lotion, Baby Soap and Shampoo), Chandrika soap,
Glucovita Glucose powder, Northwest Switches, Enchanteur (a female toiletry
brand), Romano (a male toiletry brand), Bio Essence (a skincare brand) and
Yardley (a luxury toiletry brand).

Lifeboy

Unilever, Lifebuoy started with William Lever's goal to stop cholera in Victorian
England. Over the past century, we’re evolved into the world's #1 selling germs
protection soap and a worldwide leader bringing better health and hygiene to

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billions.keep germs at bay with this 'on-the-go' pack of Lifebuoy Hand Sanitizer
- Total 10 variant. It is enriched with Moisturizers and Vitamin E that leave your
hands 99.99%* germ free. Lifebuoy Sanitizer is in gel form and it leaves your
hands feeling soft, fresh and smooth. This Lifebuoy Hand Sanitizer is convenient
to carry and can be placed on your pocket, bag or purse for convenience.

Patanjali:

Patanjali Ayurved Limited produces quality Herbomineral preparations. To

monitor quality, the Divya Yog Mandir Trust and Patanjali Yog Peeth grow
many endangered herbs on its farmland. The principles of Good Manufacturing
Practices (GMP) are rigorously followed in the plant and Company prides itself
on being environment friendly. Patanjali Cashew cookies are made from cow's
milk butter and 100% whole wheat atta. It has zero percent maida and Trans-fat
which makes it healthy and nutritious.

Veet
Veet, formerly called Neet and Immac, is a Canadian brand of chemical
depilatory internationally sold products manufactured by Reckitt
Benckiser Company. Hair removal creams, mousses and gels, and waxes are
produced under this brand. It has previously created similar products under the
names Neet and Immac.

These were certain brands selected to do the study and understand the stretch
market better. All of them are leading and most known brands to most of the
Indian users of FMCG products. Their study would definitely help us to get a
clear reflection of the Market trends and would also help us to understand the
stretch architecture thoroughly.

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13.4 Rationale of selecting FMCG sector

Favorable demographics and rise in income level to boost FMCG market. It is

expected to grow manifolds on the given fronts.

FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is
expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18.

Final consumption expenditure is expected to reach nearly US$ 3.6 trillion by 2020
from US$ 1.82 trillion in 2017.

Final consumption expenditure is set to increase at a CAGR of 25.44 per cent from
2017-2021.

Rise in rural consumption to drive the FMCG market

In FY18, Rural consumption rose by 9.7 per cent.

The rural FMCG market in India is expected to grow to US$ 220.00 billion by 2025
from US$ 23.63 billion in FY18.

Revenues of FMCG sector reached Rs 3.4 lakh crore (US$ 52.8 billion) in FY18 and
are estimated to reach US$ 103.7 billion in 2020F. The sector is projected to grow
11-12 per cent in 2019.

Income. It is forecasted to grow at 12- 13 per cent between September-December

2018.

The Union Budget 2019-20 initiatives to increase consumer spending among middle
class are expected to boost consumer confidence and improve demand generation for

branded consumer products

FMCG sector to gain support for growth from Inland Waterways Authority of India
(IWAI) multi-modal transportation project of freight village at Varanasi which will
bring together retailers, warehouse operators and logistics service providers,
investment worth Rs 1.7 billion (US$ 25.35 million)

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24
Note: F – Forecast, * - FY18 Source: Dabur, AC Nielsen, Euromonitor
International, ICICI securities, Nielsen India

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26
Growth opportunities in the Indian FMCG industry

As evident from the above data and figures FMCG is a very lucrative,
progressive and encouraging sector of Indian economy and government is also
taking many measures to accelerated growth in this sector. Hence it is
worthwhile to go ahead and do some research in this sector as it will benefit

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many and will contribute as a catalyst in this ever growing sector of fast moving
consumer goods.

1.4 Marketing strategies

Marketing strategy formulation is the procedure to describe major marketing objectives

of firm. This facilitates formulators to develop a guide. They scrutinize the market and
with relevant information, strategy makers determine what marketing approaches will
be effective to approach clients and attract them to look for business services.
Marketing strategy development often takes place within teams. The use of teams
within organizations charged with new product development has proven to be a
significant resource for the development of strategic outcomes (Bharadwaj and Menon
2004). Teams offer organizations the way to accomplish learning and creativity, as well
as knowledge distribution throughout the organization.

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 Figure 1.1 Marketing Strategy

Marketing strategy, therefore, has three interdependent parts: segmenting

markets into groups that can be served, ways of developing advantageous
relations with those customers, and strategies to handle competitors.
Segmentation and positioning Customers are people, so differ considerably.
Companies know that they cannot satisfy all consumers in a given market – at
least, not all consumers in the same way. There are too many kinds of consumer
with too many kinds of need, and some companies are in a better position than
others to serve some groups of customers better. Consequently, companies use
market segmentation to divide the total market. They then choose market
segments and design strategies for profitably serving chosen segments. This
process involves market segmentation, targeting and positioning.

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From the complexity of humans, it follows that there are many ways in which
markets segment, and finding a new way of segmenting markets or a new
segment can be the breakthrough that creates a market success. Simple criteria,
like age, gender and social class, do little to inform marketers, since even among
middle-class teenage boys there is a huge variety in interest: sporty football
fanatics, video junkies, punk musicians, etc. Only multi criteria approaches
reveal segments such as GUPPYs (gay urban professionals), high-spending
groups who start and nurture many new trends in music, fashion and
entertainment and whose presence in a community is a measure of its creative
potential. Market targeting involves evaluating each market segment’s
attractiveness and selecting one or more segments to enter.

An organization evaluates its strengths relative to the competition and considers

how many segments it can serve effectively. Finally, market positioning gives a
product a clear, distinctive and desirable place in the minds of target consumers
compared with competing products. A product’s position is the place the product
occupies in consumers’ minds. If a product is perceived to be exactly like another
product on the market, consumers would have no reason to buy it. Market
positioning can be the key to success, such as a toy shop being marketed as the
Early Learning Centre. Clearly, such an offering has to be more than just a name.
To appeal to parents and their children, the store concentrates on educational
toys and books, avoiding heavily merchandised (Barbie or Disney products) or
electrical toys. The company can position a product on only one important
differentiating factor or on several. However, positioning on too many factors
can result in consumer confusion or disbelief. Once the company has chosen a
desired position, it must take steps to deliver and communicate that position to
target consumers.

Market segmentation— dividing a market into distinct groups of buyers with

different needs, characteristics or behavior, who might require separate products
or marketing mixes. Market segment—A group of consumers who respond in a
similar way to a given set of marketing stimuli.

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Market targeting— the process of evaluating each market segment’s
attractiveness and selecting one or more segments to enter. Market positioning—
arranging for a product to occupy a clear, distinctive and desirable place relative
to competing products in the minds of target consumers. Formulating
competitive positioning for a product and a detailed marketing mix.

Product’s position—The way the product is defined by consumers on

important attributes – the place the product occupies in consumers’ minds
relative to competing products.

1.4.1 Consumer market segmentation:

Key elements of marketing segmentation:

 Segmentation. Your existing and potential customers fall into particular

groups or segments, characterized by their 'needs'. ...

 Targeting and positioning. You should aim to sell to the market segments
that will be most profitable for your business. ...

 Promotional tactics. ...

 Monitoring and evaluation. ...

 Marketing plan.

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The following are the four broad categories in which Segmentation can be
done.

Figure 1.2 Market Segmentation

1.4.3 Marketing Strategy Process:

Marketing Strategy is a procedure of arranging, creating and actualizing moves

to get an aggressive edge in your picked specialty. This procedure is important
to plot and rearrange an immediate guide of the organization's destinations and
how to accomplish them. An organization needing to secure a sure share of the
business sector, ought to guarantee they plainly recognize their central goal,
study the business circumstance, characterize particular targets and create,
execute and assess an arrangement to ensure they can give their clients the items
they require, when they require them.

Marketing Strategy Process

• Understand Customer

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 • Analyze Customer
• Analyze Competition
• Research Distribution
• Define Marketing Mix
• Financial Analysis
• Review & Revise

There are many strategies which can be used , The Marketers are categorized in
many categories like: Market leaders, Market challengers, Market followers,
Market Niches. Then there are many generic Strategies that can be followed by
them like: Porters Generic strategies, BCG Matrix, Cost leadership strategies,
focused strategies, differentiation strategies, Focus strategy and so on.

1.5 Promotion

Promotion means the communication techniques aimed at informing,

influencing and persuading customers to buy or use a particular brand of product.
It involves communication about product or service. It is one of the elements of
marketing mix. Promotion can be used for many types of purposes like:

• Increased sales
• Attract new customers
• Encourage customer loyalty
• Create Awareness
• To inform
• To remind potential customers
• To change attitudes
• To create an image
• To position a product
• To encourage brand switching
• To reassure new customers
• To support distribution channels.

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The Main aim of Promotion is to ensure that customers are aware of the existence
and positioning of products. It is also used to persuade customers that the product
is better than competing products and to remind customers about what they may
want to buy.

The Specific Mix of Promotional methods that a business uses to pursue its
marketing objectives and the main elements/tools are:

• Advertising
• Sales Promotion
• Personal selling
• Public relations
• Direct Marketing
• Digital Promotions

The composition of promotional mix depends on various parameters:

Stage in the product's life E.g. Advertising & PR are often important at
cycle launch stage

Nature of the product What information do customers require

before they buy?

Competition What are rivals doing? what promotional

methods are traditionally effective in a
market?

Marketing Budget How much can the firm afford?

Marketing Strategy Other elements of the mix

Target market Appropriate ways to reach the target market

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Advertising
Advertising is a paid form of communication on different Media platforms like
TV, radio, newspapers, Magazines, online, cinema, billboards, etc, by an
identified sponsor, with a controlled message. It has wide coverage but it’s often
too expensive. The message here is impersonal but can be repeated many times.
It’s one way communication only and lacks flexibility. It can be used effectively
to build brand loyalty but has a limited ability to close sales. Thus we can say
that its an effective yet expensive way to build a brand.

Sales Promotion
Sales promotion is a tool used to instigate immediate purchase by giving short
term incentives; it is aimed at consumers or other intermediaries or sales force.
It has many tools like:

o Coupons
o Money offs
o Free gifts
o Competitions/ lucky draws
o Point of sale displays
o free samples
o Demonstrations
o Buy one get one free
o Merchandising
o loyalty pointts
o trade in offers, etc.

It is an effective tool in the short run and encourages to stimulate instant buying
but does not has any long term impact. On the contrary some times consumer
erceive the brand is not selling much and thus coming up with sales promotion
offers so one has to be balanced enough as a marketer while using this tool of
promotion mix.

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Personal selling
Personal selling is promoting of goods and services on person to person basis. It
involves two way communications, meeting with potential customers to close
sale. It can be done by telephone, meetings, and retail outlets and by knocking
doors. Highly priced products, low volume and highly technical products rely on
personal selling.

So in a nutshell we can say that personal selling may be useful in many cases
and in fact necessary in products that are very technical or need personal
attention in selling but other than that it might contribute in creating a negative
image or irritability in prospects regarding our product or service. One has to be
very conscious on choosing this tool of promotion and should wisely limit the
use when necessary.

Public relations
Public relations involve the activities that create a goodwill and positive image
amongst the various publics of the business. It aims to have favorable image of
our brand, to manage and build reputation of business and its products, to
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communicate effectively with customers and all direct and indirect stake holders.
Another important function is crisis management. When due to any legal dispute
or any other reasons the firms reputation is at stake, it can kill the entire business
and at such time it is the task of PR to handle the situation on the reputation front
and keep building and form a positive image of the brand. There are many tools
or ways of doing public relations like:

Figure 1.3 PR tools

Direct Marketing
Direct Marketing is sending promotional material directed through mail,
telephones or other directs mediums to individual, households or business. It
helps business to generate a specific response from targeted groups of customers
and allows business to focus on several marketing objectives like :

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 - increasing sales to existing customers
- building customer loyalty
- reestablishing lapsed customer relationship
- generating new business

It has got many advantages and disadvantages as a tool of promotion ,

they are as follows:

Digital Promotions
With the advent of internet and its accessibility on our smart phones, the whole
world of marketing is slowly changing its picture. The architecture of promotion
is moving towards a paradigm shift in its true composition. There are many ways
digital marketing can be done, they are as follows:

- SEM(search engine Marketing) : it generally covers both Pay per click(PPC)

and SEO that is search engine optimization. It brings traffic to your website

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 using keywords/key phrases. It can be used for paid or unpaid means and
helps the website ranking higher on the search engine. The following types
of paid listings are most common: Paid Placement Paid Inclusion Shopping
Search Video Search Ads Local Search Ads Product Listing Ads.

- SEO brings in organic traffic to your website Involves Keyword/Key Phrase

Research SEO can also be performed on images as well as text It is crucial
for generating more business from organic searches SEO should be practiced
as an on-going strategy BEWARE! SEO is not a quick fix.

- PAY-PER-CLICK, Location is the key – this rule applies to more than real
estate Instead of Google setting prices, the market effectively sets Google
Ads prices at what advertisers are willing to pay Insurance is always one of
the most expensive keywords to purchase pay-per-click advertisements. 52
percent of people shopping online prefer to click on paid advertisements at
the top of Google’s search engine results pages. If your PPC ad is among the
top three PPC ad slots on the first search engine results page on Google,
you’ve got about a one in six chance of an Internet user clicking on your page.

- SOCIAL MEDIA MARKETING There is a social media network for every

type of business More and more businesses are investing in social media
Social media helps to reach new groups of prospective customers. The
biggest platforms are Facebook, Twitter and Instagram Social media
marketing can be used for long-term or short-term campaigns.

- CONTENT MARKETING Content marketing is the practice of providing

valuable, interesting or helpful content which builds brand presence,
authority and consumer trust. Content marketing covers the following facets:
Articles and blogs

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- Videos and webinars Free Guides and eBooks Podcasts Infographics Statistic
and industry reports Newsletter.

- EMAIL MARKETING There are over 3.7 billion email users in the world
currently. The top 3 uses of email marketing are newsletters, promotional
content and welcome series emails. Surprisingly, 72% of consumers prefer
to receive promotional content through email, compared to 17% who prefer
social media Over 50% of all marketing campaigns are email. Very low-cost
way of reaching thousands of customers with very minimal efforts.

- INFLUENCER/AFFILIATE MARKETING Influencer marketing is

becoming increasingly popular, and for good reason. 70% of millennial
consumers are influenced by the recommendations of their peers in buying
decisions, ⅓ of Twitter audiences follow and engage with social media
celebrities and influencers. In the UK alone brands spend £1.3 billion a year
on affiliate marketing 15% of all of the digital marketing industry’s revenue
is generated by affiliate marketing In the UK, affiliate marketing contributes
1% to the country’s total GDP. This is more than the agricultural industry.

- VIRAL MARKETING Viral marketing is a method of creating buzzwords

or marketing pieces that are memorable and attention-grabbing in our
modern, always-connected world. Viral marketing can be related to any of
the following practices: Influencer marketing Online PR analytics Online PR
outreach Online PR strategy Real-time marketing Reputation management.
There is a common misconception that viral marketing depends on the ability
to reliably create something popular. When in fact, a successful viral
marketing campaign rests more on understanding how to connect with
specific demographics by presenting them with valuable content that they
engage with.

- OTT (over the top) platforms: With competition from Netflix, Amazon
prime, Hot star and a host of new video streaming providers, the television

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 industry has undergone seismic changes over the last five years. There are
lots of options for those that want to advertise on television without paying
expensive ad slot costs. TV ads are intrusive, capable of interrupting
whatever else a viewer might be doing to watch and listen to your pitch. No
other advertising medium combines sight and sound and has such a grand
impact Good TV ads are more than walking, talking messages. You
determine how you want your audience to react.

- MOBILE ADVERTISING In the United States 90% of all mobile time is

spent in apps It’s predicted that an estimated 2.87 billion people around the
world will own a smart phone by 2020 App store optimization works in a
similar way as SEO as the aim is to increase the visibility of your product
Mobile search engine activity is readily replacing that of computers

1.6 Brand

Kotler et al (2005 p.549) defined a brand as “a name, term, sign, symbol, design
or a combination of these that identifies the makers or seller of the product or
services”. This definition is based on the use of a brand name, symbols and signs
to distinguish a product from its competitor. Prasad and dev (2000) noted that a
brand can also be said to include all tangible and intangible attributes that the
business stands for. According to Keller (2003 p.3).The brand has to be viewed
as an identifier where the logo, slogan, names forms a particular image and
awareness for the consumer.

The brand has to be viewed as an experience provider where the logo, slogan,
names, event and contacts by consumer provides consumers affective, sensory,
lifestyle and create relation with the brand. Kotler and Armstrong (2004) also
see brand to be beyond an identifier. It represents consumer’s sensitivity and
emotional attachment to the product. According to Feldwick, (2002), a brand is
a distinguishable symbol of origin and an assurance of performance.

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Conclusively, a brand can be said to be a symbol of all facts associated
with a product and service. A brand commonly includes a logo, a name
and any other visible elements s u c h a s s y m b o l s a n d i m a g e s . I t a l s o
c o n s i s t s o f o t h e r s e t s o f e x p e c t a t i o n r e l a t e d t o a product or service
which normally arise in people’s mind.

To a consumer, brand means and signifies:

▪ Source of product
▪ Delegating responsibility to the manufacturer of product
▪ Lower risk
▪ Less search cost
▪ Quality symbol
▪ Deal or pact with the product manufacturer
▪ Symbolic device

Brands simplify consumers purchase decision. Over a period of time, consumers

discover the brands which satisfy their need. If the consumers recognize a
particular brand and have knowledge about it, they make quick purchase decision
and save lot of time. Also, they save search costs for product. Consumers remain
committed and loyal to a brand as long as they believe and have an implicit
understanding that the brand will continue meeting their expectations and
perform in the desired manner consistently. As long as the consumers get
benefits and satisfaction from consumption of the product, they will more likely
continue to buy that brand. Brands also play a crucial role in signifying certain
product features to consumers.

To a seller, brand means and signifies:

• Basis of competitive advantage

• Way of bestowing products with unique associations
• Way of identification to easy handling
• Way of legal protection of products’ unique traits/features

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 • Sign of quality to satisfied customer
• Means of financial returns

A brand, in short, can be defined as a seller’s promise to provide consistently a

unique set of characteristics, advantages, and services to the buyers/consumers.
It is a name, term, sign, symbol or a combination of all these planned to
differentiate the goods/services of one seller or group of sellers from those of
competitors. Some examples of well known brands are Mc Donald’s’,
Mercedes-Benz, Sony, Coca Cola, Kingfisher, etc

Brand Equity

Aaker (1991) stated that brand equity can be referred to as “a set of

brand assets and liabilities linked to a brand, its name and symbol that
add to or subtract from the value provided by a product or service to a firm
and/or to that firm’s customers”.

Brand loyalty
Aaker (1991) defined Brand loyalty as “the attachment that a customer has to a
brand”. It can also be seen as consumer’s preference to purchase a particular
brand in a product class and this could be as a result of the consumer awareness
about that particular brand.

Brand image
Brand image is referred to as consumer perceptions about the brand or how they
view it. According to Keller (1993), brand image is also seen as “a symbolic
construct created within the minds of people and consist of all the information
and expectations associated with a product or service”

Brand Awareness
Keller (2003) stated that Brand awareness can be referred to as the ability of a
consumer to distinguish a brand under various conditions. Keller (2003) also
noted that brand awareness is built and increased by familiarity with the brand

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as a result of repeated vulnerability which eventually leads to consumers
experience with the brand. Consumer’s experience of a particular brand could
either be by hearing, seeing, or thinking about it and this will help the brand to
stick in their memory

Brand Management

Brand management begins with having a thorough knowledge of the term

“brand”. It includes developing a promise, making that promise and
maintaining it. It means defining the brand, positioning the brand, and delivering
the brand. Brand management is nothing but an art of creating and sustaining
the brand. Branding makes customers committed to your business. A strong
brand differentiates your products from the competitors. It gives a quality image
to your business.

Brand management includes managing the tangible and intangible

characteristics of brand. In case of product brands, the tangibles include the
product itself, price, packaging, etc. While in case of service brands, the
tangibles include the customers’ experience. The intangibles include emotional
connections with the product / service.

Branding is assembling of various marketing mix medium into a whole so as to

give you an identity. It is nothing but capturing your customers mind with your
brand name. It gives an image of an experienced, huge and reliable business.

It is all about capturing the niche market for your product / service and about
creating a confidence in the current and prospective customers’ minds that you
are the unique solution to their problem.

The aim of branding is to convey brand message vividly, create customer loyalty,
persuade the buyer for the product, and establish an emotional connectivity with
the customers. Branding forms customer perceptions about the product. It should

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raise customer expectations about the product. The primary aim of branding is
to create differentiation.

Strong brands reduce customers’ perceived monetary, social and safety risks in
buying goods/services. The customers can better imagine the intangible goods
with the help of brand name. Strong brand organizations have a high market
share. The brand should be given good support so that it can sustain itself in long
run. It is essential to manage all brands and build brand equity over a period of
time. Here comes importance and usefulness of brand management. Brand
management helps in building a corporate image. A brand manager has to
oversee overall brand performance. A successful brand can only be created if the
brand management system is competent.

Brand personality is the way a brand speaks and behaves. It means assigning
human personality traits/characteristics to a brand so as to achieve
differentiation. These characteristics signify brand behavior through both
individuals representing the brand (i.e. it’s employees) as well as through
advertising, packaging, etc. When brand image or brand identity is expressed in
terms of human traits, it is called brand personality. For instance - Allen
Solley brand speaks the personality and makes the individual who wears it stand
apart from the crowd. Infosys represents uniqueness, value, and intellectualism.

Brand personality is nothing but personification of brand. A brand is expressed

either as a personality who embodies these personality traits (For instance -
Shahrukh Khan and Airtel, John Abraham and Castrol) or distinct personality
traits (For instance - Dove as honest, feminist and optimist; Hewlett
Packard brand represents accomplishment, competency and influence). Brand
personality is the result of all the consumer’s experiences with the brand. It is
unique and long lasting.

Brand personality must be differentiated from brand image, in sense that,

while brand image denote the tangible (physical and functional) benefits and
attributes of a brand, brand personality indicates emotional associations of the

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brand. If brand image is comprehensive brand according to consumers’ opinion,
brand personality is that aspect of comprehensive brand which generates it’s
emotional character and associations in consumers’ mind.

6.1 Brand Stretch

Brand extension or brand stretching is a marketing strategy in which a firm

marketing a product with a well-developed proposition uses the same brand
name in a different product category. It is based on the philosophy that a brand
is not bounded to one product, but has value that can transcend into different
product categories.

30% of revenue of top 23 FMCG most trusted brands come from Brand Stretch
A Brand Stretch has five times more likelihood of success compared to all new
launches Brand Stretch helps leverage equity, spend efficiency and have faster
consumer adoption

Differentiating a Line Extension from a Brand Extension A product changing the

size, flavor or pack type would be described as a line extension and not a brand
stretch, and are outside the scope of study. A noodle brand introducing new
flavors or a soft drink company launching its beverage in a can instead of a bottle,
are other examples of line extensions. Brand Extension on the other hand, is
when a brand breaks new ground and courageously extends outside its core
category.

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BRAND STRETCH ≠ LINE EXTENSIONS BRAND STRETCH =
BRAND EXTENSIONS

Understanding Brand Stretch types Nielsen reviewed the various kinds of brand
extensions that marketers typically resort to and has broadly identified three
types. Type A is where there is a change in product format but its core function
remains the same. A company manufacturing bar soaps extending to liquid
sanitizer would be a good example of this type of brand stretch. Type B is when
a product shifts to an adjacent category but is still within the ambit of the larger
category. An example would be when a Corn flakes brand introduces Oats. A
Type C brand stretch is when there is a complete shift to a different category. A
company extending from a category of Spirits and Beer to a service oriented
industry of Airlines would fall under this

Brand Extension is the use of an established brand name in new product

categories. This new category to which the brand is extended can be related or
unrelated to the existing product categories. A renowned/successful brand helps
an organization to launch products in new categories more easily. For instance,
Nike’s brand core product is shoes. But it is now extended to sunglasses, soccer
balls, basketballs, and golf equipments. An existing brand that gives rise to a
brand extension is referred to as parent brand. If the customers of the new

47
business have values and aspirations synchronizing/matching those of the core
business, and if these values and aspirations are embodied in the brand, it is likely
to be accepted by customers in the new business.

Extending a brand outside its core product category can be beneficial in a sense
that it helps evaluating product category opportunities, identifies resource
requirements, lowers risk, and measures brand’s relevance and appeal.

Brand extension may be successful or unsuccessful.

Instances where brand extension has been a success are-

i. Wipro which was originally into computers has extended into shampoo,
powder, and soap.
ii. Mars is no longer a famous bar only, but an ice-cream, chocolate drink
and a slab of chocolate.

Instances where brand extension has been a failure are-

i. In case of new Coke, Coca Cola has forgotten what the core brand was
meant to stand for. It thought that taste was the only factor that consumer
cared about. It was wrong. The time and money spent on research on new
Coca Cola could not evaluate the deep emotional attachment to the
original Coca- Cola.
ii. Rasna Ltd. - Is among the famous soft drink companies in India. But when
it tried to move away from its niche, it hasn’t had much success. When it
experimented with fizzy fruit drink “Oranjolt”, the brand bombed even
before it could take off. Oranjolt was a fruit drink in which carbonates
were used as preservative. It didn’t work out because it was out of
synchronization with retail practices. Oranjolt need to be refrigerated and
it also faced quality problems. It has a shelf life of three-four weeks, while
other soft- drinks assured life of five months.

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Advantages of Brand Extension
Brand Extension has following advantages:
It makes acceptance of new product easy.

- It increases brand image.

- The risk perceived by the customers reduces.
- The likelihood of gaining distribution and trial increases. An
established brand name increases consumer interest and
willingness to try new product having the established brand name.
- The efficiency of promotional expenditure increases. Advertising,
selling and promotional costs are reduced. There are economies of
scale as advertising for core brand and its extension reinforces each
other.
- Cost of developing new brand is saved.
- Consumers can now seek for a variety.
- There are packaging and labeling efficiencies.
- The expense of introductory and follow up marketing programs is
reduced.

There are feedback benefits to the parent brand and the organization.

- The image of parent brand is enhanced.

- It revives the brand.
- It allows subsequent extension.
- Brand meaning is clarified.
- It increases market coverage as it brings new customers into brand
franchise.
- Customers associate original/core brand to new product, hence
they also have quality associations.

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Disadvantages of Brand Extension

- Brand extension in unrelated markets may lead to loss of reliability if a

brand name is extended too far. An organization must research the
product categories in which the established brand name will work.
- There is a risk that the new product may generate implications that
damage the image of the core/original brand.
- There are chances of less awareness and trial because the management
may not provide enough investment for the introduction of new product
assuming that the spin-off effects from the original brand name will
compensate.
- If the brand extensions have no advantage over competitive brands in the
new category, then it will fail.

1.7 Organization of Thesis:

The thesis begins with the Introduction of the topic which is broadly then divided
into micro topics like India as a nation, FMCG as a sector, its growth dynamics
and rationale for selecting it as a sector for research. Then this chapter moves to
the introduction of the concepts used in the Research like: marketing strategies,
Brand, Promotion, Brand stretch. The thesis further flows into the second chapter
that is the review of literature where in many literatures have been studied upon
and a ground base for the research has been created to investigate further.

This chapter is then followed by Objectives of the research and hypothesis

formed mentioned in the third chapter of the thesis which elaborates the purpose
behind the research and formulation of assumptive statements to be proven true
or otherwise. The next that is fourth chapter explains the research methodology
used to justify our objectives and test our hypothesis. The next chapter fifth states
the various data analysis techniques used to analyze the data collected to
investigate further on our objectives.

The thesis then moves to its final few stages of chapter sixth on findings and
discussion where the findings are discussed after the application of various data
50
analysis techniques followed by chapter seventh based on suggestions and
implications and chapter eight discussing the limitations of the study and further
scope of research in the related arena of investigation. Thus this logical
investigative flow of analysis commensurate the complete thesis for the doctor
of philosophy dissertation.

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