Marketing Report on SQUARE CONSUMER PRODUCTS LTD

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A Comparative Study on Basic Spice:
Measuring the Consumer Perception of Branded & Open Spice.
Done By: Faysal Alam, Solaiman Hossain and Kaushik Reza

Published in: Marketing, Business, Technology
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Marketing Report on SQUARE CONSUMER PRODUCTS LTD

  1. 1. 1.1 Introduction Spices are the imperative ingredient to make food tasty and delicious. It is the most common and important ingredient for food items of our daily consumption. A Bangladeshi cannot think of a meal without using spices, it is our food habit and tradition. The history of spice is almost as old as human civilization. It is a history of lands discovered, empires built and brought down, wars won and lost, treaties signed and flouted, flavors sought and offered, and the rise and fall of different religious practices and beliefs. Spices were among the most valuable items of trade in ancient and medieval times. As long ago as 3500 BC the ancient Egyptians were using various spices for flavoring food, in cosmetics, and for embalming their dead. The use of spices spread through the Middle East to the eastern Mediterranean and Europe. Spices from China, Indonesia, India, and Ceylon (now Sri Lanka) were originally transported overland by donkey or camel caravans. For almost 5000 years, Arab intermediaries controlled the spice trade, until European explorers discovered a sea route to India and other spice producing countries in the East. 1.2 Background of the Study The report has done to complete the partial fulfillment of Effective Business Communication for Managers (EMBA_504) course. The entire report is done under close supervision and instruction of our honorable course instructor Engr. Kamrul Hassan. We have completed our report based on a comparative study between Open Powder Spice and Branded Spice taking Spice as generic product in our consideration. We focus on the consumption pattern of spices, health benefit of spices, spice consumption level in our country, advantage and disadvantage of open and branded spice. We also focus on consumer trend of using spices. Spice as powder form found in open market and in packed condition. These two the available option for a consumer to purchase powdered spice. We have conducted a consumer survey on structured questionnaire on brand perception of spice. Finally draw our conclusion on market 32
  2. 2. share analysis and marketing strategy of RADHUNI POWDER SPICE - a pioneer and leading spice brand of our country In 2001, Square Consumer Products Limited introduced “RADHUNI POWDERED SPICE” with a vision to provide quality “ready-to-cook” food ingredients for the homemakers. Within a very short span of time, RADHUNI POWDERED SPICE drew attention of modern homemakers those who had a strong demand for quality, convenience and timesaving cooking. Dedication to purity, consistent quality, and authentic taste has given “RADHUNI” unique position in the market. Within a year Radhuni Spice achieved the crown of brand leader. 1.3 Objective of the Study 1.3.1 Primary objectives: The primary objective of this report is to analyze a comparative study between open spices and branded spices and to identify the consumer prection of branded spices. 1.3.2 Secondary objectives: • To explore new segments of market and to cater it. • To analyze the marketing practices of Basic Spices. • To analyze the consumer’s opinion and expectation regarding Basic Spice. • To identify the gaps between the customers’ expectations and existing market scenario of Basic Spice. • To Motivate and convert open spice users to branded spice especially to Radhuni. 32
  3. 3. 1.4 Methodology 1.4.1 Research Design: Once the problem is identified, the next step is the research design. Research design is the basic framework of rest of the study. A research design specifies the methods and procedures for conducting particular study. In this project, we are following descriptive research design. 1.4.2 Source of Data There are two types of data: 1. Primary data 2. Secondary data Primary Data: The primary data is fresh information collected for a specified study. The primary data have gathered by observational, experimentation and survey method. Here the entire scheme of plan started with the definition of various terms used, units to be employed, and type of enquiry to be conducted, extent of accuracy aimed etc. The methods commonly used for the collection of primary data are: 1. Direct personal investigation, where the data is collected by the investigator from the sources concerned. 2. Indirect oral interviews, where the interview is conducted directly or indirectly concerned with subject matter of the enquiry. 3. Information received through local agencies, which are appointed by the investigator. 32
  4. 4. 4. Mailed questionnaire method, here the method consists in preparing a questionnaire (a list of questions relating to the field of enquiry and providing space for the answers to be filled by the respondents.), which is mailed to the respondents with a request for quick response within the specified time. Secondary Data: The secondary data refers to data, which already exists. The secondary data collect from internal records, business magazines, company websites and Newspapers. 1.4.3 Research instruments For the collection of primary data, a structured questionnaire was prepared covering various aspects of the study. The questionnaire contains closed-ended and dichotomous questions. Sampling Procedure: It is a procedure required from defining a population to the actual selection of the sample. Sample: A part of a population, which is provided by some process on other, usually by deliberated selection with the object of investigating the properties of the parent population set. Non probability sampling method is in deterministic method where the sample size in numerous and can’t be determined. So for our convenience we take convenience-sampling method where all the population in sample is given equal opportunity. Sampling Method: - Convenience sampling method. 32
  5. 5. 1.4.4 Statistical Tools Used 1. Population: Retailers in Dhaka and Chittagong metro city area. 2. Source of data: The two important sources of data are the primary data and secondary data. The primary data is collected through survey method with the help of questionnaire and personal interview. The secondary data is been collected from consumer attitude books. 3. The information is collected through survey done in Dhaka and Chittagong metro city area. 4. Sample unit: The sample unit consists of retailers in Dhaka and Chittagong metro city area. 5. Sample size: The sample size is 200 respondents. 6. The sample taken for the study caters to upper class and middle class of the society. 7. Sample method: the sample method used is non-probability. In non-probability sampling the chance of any particulars unit in the population being selected unknown. 8. Procedure: the procedure used for sampling is convenient sampling in this method the sample unit is chosen primarily on the basics of the convenience to the investigator. 9. The survey consists of structured questionnaire. 10. The questionnaire consists of both open and closed-ended questions 32
  6. 6. 1.5 Scope The scope of the study is limited. The study is a very minor contribution to the company as it is only restricted to the twin cities (Dhaka and Chittagong). The study would only be a drop in the ocean, Can help the marketing and sales in this area. The study can be conducted on a national basic too with a large sample size and interviewing many numbers of respondents. The following areas and issues are covered during preparation of the report. Retailer: Retailer is a person or business who sells products to the public. Brand: Brand refers to the identification of the product given by the manufacturer. Brand Loyalty: Brand loyalty refers to the continuous and repeated purchase of a particular brand without any wavering purchase pattern. Respondent: Respondent is a person who is being interviewed for the purpose of conducting the study. Market share: The amount that a company sells of its products or services compared with other companies selling the same things Promotional Activities: Promotional activities include advertising, personal selling, sales promotion, and publicity, which have their own characteristics and cost but have common objectives of achieving high sales by creating awareness. 32
  7. 7. Incentives: Offer of an article at frees of cost or less price of the market can be termed as incentives. Interviewer: A person who is answerable to the interviewer of the proposed questions. Interviewee: A person who carries on investigation for the purpose of achieving the objectives of the project. Sample: The selection of set of people from the total population for the purchase of carrying on the investigation. Survey: It refers to the questionnaire administered to the subject who is identified from the population with the help of probability or non probability sampling. Questionnaire/ Research instrument: A set of questions that are framed to be answered by the respondents for the purpose of achieving the research objectives. In questionnaires there are two types structured and unstructured. There are four types of questions in a questionnaire on open ended questions, closed ended questions, disguised and interrogative questions. Brand awareness: Knowing brand; knowing that particular brand exists and is important; being interested in particular brand: brand awareness refers to the consumer awareness of the particular brand. 32
  8. 8. 1.6 Limitation • The study was confined to limited retailers and consumers only • The duration of the study was restricted for 8 weeks only, which is not sufficient to study the entire consumers and retailers in the market. • The analysis cannot be straight away used in decision making, as simple is very small when compared to the total consumers retailers in the market. • The survey is conducted only in Dhaka and Chittagong metro city area only. By which it is very difficult to know the actual market condition. • The present study deals with marketing strategy of Radhuni Brand only. 32
  9. 9. 2.0 Basic Spice – Nuts & Bolts Spices are the aromatic parts of tropical plants traditionally used to flavor food, or the dried seeds or fruit of temperate plants used in the same way. Some of the substances we call spices come from the bark or roots of certain plants, but the majority are berries, seeds, or dried fruits. Bangladeshi cuisine shows an impact of the cuisines of these two countries. However, despite that, Bangladeshi food has its own soul, which ranges between very “spicy” and extremely “sweet.” This difference is created with the help of the top spices of Bangladesh, Spices are the imperative ingredient to make food tasty and delicious. It is the most common and important ingredient for food items of our daily consumption. Basic Spices refers to four core spices namely Chili, Turmeric, Cumin and Coriander. No other spices or ingredients are needed to mix with these spices. These spices can be use in both raw and in powder form. We are talking about powder form of these four spices. 2.1 Chili Chilies belong to the potato, tomato, and aubergine family of plants, and have been cultivated for thousands of years. There are at least 150 different types of chilies, which are the world’s biggest spice crop. They are now grown in all tropical regions and eaten daily by about a quarter of the world’s population. Chilies are an excellent source of vitamins A and C, and provide that added benefit to the millions of people who eat them as a means of pepping up a bland and unvarying diet. Native range: Central America, South America, Caribbean Islands Major producers: India, Thailand, Mexico, USA, South Korea, Turkey, Ethiopia, Uganda, Kenya, Tanzania Harvesting: Most chilies are grown as annuals and harvesting occurs about 3 months after planting. Green chilies are immature fruits and red chilies have been allowed to ripen for a further 4 weeks. Most of the chili crop is dried, either in the sun or artificially. 32
  10. 10. Taste and aroma: Chilies range in taste from mild and tingling to explosively hot. Large, fleshy varieties tend to be milder than small, thin-skinned ones. The characteristic pungency of chilies comes from the presence of capsaicin, which stimulates the digestive and circulatory processes. Culinary uses: Chilies can be used whole (fresh or dried), or in crushed or powdered form. Chili powders are prepared from a variety of mild to hot chilies, and are typically milder than cayenne pepper. Crushed chili (or chili flakes) contains both the flesh and seeds from red chilies and can be used instead of chili powder. 32
  11. 11. Health Benefit of Chili: Vitamin A: There are about 2,224 IU of vitamin A in a tablespoon of chili powder. That is 44.5 percent of your recommended daily vitamin A intake. According to the University of Maryland Medical Center, your body needs vitamin A for the maintenance of your eyesight as you age as well as to contribute to maintaining the health of your bones, teeth, skin, internal membranes and reproductive systems. Vitamin C: One tablespoon of chili powder contains 4.8 mg of vitamin C, which is about 8 percent of your daily recommended vitamin C intake. According to the Office of Dietary Supplements by the National Institutes of Health, vitamin C is an antioxidant. Your body uses antioxidants to fight damage from free radicals, which are unstable molecules created during the energy creation process that can increase your risk of developing harmful health conditions like cancer and heart disease. Vitamin C also helps strengthen your immune system and heal injuries. Minerals: Chili powder is also rich in several important minerals. One tablespoon contains 143.7 mg of potassium, or 4.1 percent of your daily recommendation; 22.7 mg of phosphorus, or 2.3 percent of your daily recommendation; 20.9 mg of calcium, or 2.1 percent of your daily recommendation; and 1.1 mg of iron, or 5.9 percent of your daily recommendation. It also contains 0.2 mg each of zinc and manganese and 0.5 mcg of selenium. Other Nutritional Information: Each 1-tablespoon serving of chili powder contains 23.6 calories, with 1.3 g of total fat, or about 2 percent of your daily recommendation, and 0.2 g of saturated fat, or about 1 percent of your daily recommendation. It contains no cholesterol, as well as 4.1 g of total carbohydrates, 2.6 g of dietary fiber, 0.5 g of total sugars and 0.9 g of protein 32
  12. 12. 2.2 Turmeric Turmeric is a member of the ginger family and consists of a bright, deep yellow rhizome similar in size and appearance to ginger. It thrives in hot, moist, tropical conditions and is valued more for its bright yellow color than as a flavoring agent. Native range: Southern Asia Major producers: India, China, Haiti, Indonesia, Jamaica, Malaysia, Pakistan, Peru, Sri Lanka, Vietnam Harvesting: Turmeric rhizomes are harvested about 9 months after planting. The rhizomes are then boiled, peeled, and dried in the sun before they are graded for quality. Almost all the turmeric crop is ground and sold as powder. Taste and aroma: Fresh turmeric is crunchy and has gingery, citrus aromas. Dried turmeric has a more complex woody aroma but still with hints of citrus and ginger. The taste is warm, slightly bitter, and sour. Culinary uses: In Bangladesh, ground turmeric combined with other spices is the basis of masalas, curry powders, and pastes. It is also used to impart a warm flavour and yellow colour to many vegetable, bean, and lentil dishes. 32
  13. 13. Health Benefit of Turmeric In addition, ayurvedic and Chinese medicines utilize turmeric to clear infections and inflammations on the inside and outside of the body. But beyond the holistic health community, Western medical practitioners have only recently come on board in recognizing the benefits of turmeric. Blocking Cancer: Doctors at UCLA recently found that curcumin, the main component in turmeric, appeared to block an enzyme that promotes the growth of head and neck cancer. Powerful Antioxidant: The University of Maryland’s Medical Center also states that turmeric’s powerful antioxidant properties fight cancer-causing free radicals, reducing or preventing some of the damage they can cause. Potent Anti-Inflammatory: Dr. Randy J. Horwitz, the medical director of the Arizona Center for Integrative Medicine and an assistant professor of clinical medicine at the University of Arizona College of Medicine in Tucson, wrote a paper for the American Academy of Pain Management in which he discussed the health benefits of turmeric. “Turmeric is one of the most potent natural anti-inflammatories available,” Horwitz states in the paper. “Raw Is Best”: Natalie Kling, a Los Angeles-based nutritionist, says she first learned about the benefits of turmeric while getting her degree from the Natural Healing Institute of Neuropathy. “As an antiinflammatory, antioxidant and antiseptic, it’s a very powerful plant,” she says. 32
  14. 14. 2.3 Cumin Cumin or Jeera is a small annual herbaceous plant of the parsley and carrot family, and grows to a height of about 25 cm. Cumin grows best in regions with a sunny climate and some rainfall. Native range: Egypt, Eastern Mediterranean countries Major producers: India, China, Morocco, Iran, Turkey, Central America Harvesting: Cumin stalks are harvested when the plants begin to wither and the seeds turn brown. They are then threshed and the seeds are dried in the sun. In many countries the harvest is still done manually. Taste and aroma: Cumin has a strong, spicy, sweet aroma. The taste is rich, slightly bitter, and warm. The pungency and taste are particularly noticeable in the ground spice. Culinary uses: Because of its strong flavor, ground cumin is popular in cuisines which are generally highly spiced such as many Indian and Bangladeshi, Middle Eastern, North African, and Mexican dishes. Cumin is an essential ingredient in curry powders and masalas. The aroma of cumin is enhanced if the seeds are dry roasted before they are ground. 32
  15. 15. Well Known Health Benefits of Cumin: For Blood: Cumin helps to lower blood sugar levels and thus helps in maintaining proper blood content levels in the body. This is a great boon for people suffering from Diabetes. For Iron: These seeds are very rich in Iron, which makes it an essential natural health ingredient. This iron content helps to treat anaemia, makes blood rich in haemoglobin content and helps in acting as a carrier of oxygen to the cells in the body. Fights Asthma: Cumin seeds contain Thymoquinone, which reduces inflammatory processes and other mediators that cause asthma. They also act as a bronchodilator. Anaemia: Cumin seeds are rich in Iron which is necessary for the formation of hemoglobin in the blood. This inturn is required for the transportation of Oxygen in the body. Thus, Cumin protects us from Anaemia. Menstrual Cycle: Cumin is healthy for women of all age groups and is known to influence healthy menstrual cycle in them. Cancer: Cumin is helpful in treating colon and breast cancer due to the presence of thymoquinone, dithymoquinone, thymohydroquinone and thymol, which are anti-carcinogenic agents. Cold and Respiration: Cumin is rich in Vitamin C and anti fungal properties, which helps it cure Cold and other respiratory problems. Cumin seeds are also suggested for kidney health. Digestion: Enzymes present in Cumin helps to breakdown foods and thus aids in digestion. 32
  16. 16. 2.4 Coriander Coriander is a slender, solid-stemmed plant belonging to the carrot and parsley family, growing to a height of about 0.6 m. It is used as both an herb (the leaves) and a spice (the dried fruits or seeds). Coriander (Coriandrum sativum), also known as dhania. Native range: Mediterranean Region, Middle East Major producers: Eastern Europe, India, Morocco, USA, Central America, Brazil Harvesting: The seeds are harvested when they change color from green to light brown, then threshed and dried in partial shade. In some regions the seeds are dried artificially. Taste and aroma: Coriander seeds have a sweet, woody fragrance with peppery and floral notes. The taste is sweet, mellow, and warm with a clear hint of orange peel. Culinary uses: Coriander is generally used in larger amounts than other spices because its flavor is mild. After dry roasting, coriander forms the basis of many curry powders and masalas. Whole coriander may be added to chicken and pork casseroles, and it is one of the ingredients in pickling spice. It is also used in condiments, seasonings, and as an ingredient in sweet spice mixtures for cakes and biscuits. 32
  17. 17. Health benefits of coriander Skin inflammation: Cineole, one of the 11 components of the essential oils, and linoleic acid, are both present in coriander, and they possess antirheumatic and antiarthritic properties. Some of the components in coriander help the induce urination and the release of excess water from the body. Skin disorders: The disinfectant, detoxifying, antiseptic, antifungal and antioxidant properties of coriander are ideal for clearing up skin disorders such as eczema, dryness and fungal infections. Low cholesterol levels: Some of the acids present in coriander, like linoleic acid, oleic acid, palmitic acid, stearic acid and ascorbic acid (vitamin-C) are very effective in reducing the cholesterol levels in the blood. They also reduce the level of bad cholesterol (LDL) deposition. More importantly, coriander helps to raise the levels of healthy cholesterol (HDL). Diarrhea: Some of the components of essential oils found in coriander such as Borneol and Linalool, aid in digestion, proper functioning of the liver and bonding of bowels, while also helping to reduce diarrhea. Blood pressure: Consuming coriander has been shown to positively reduce blood pressure in many patients suffering from hypertension. Mouth Ulcers: Citronelol, a component of essential oils in coriander, is an excellent antiseptic. Additionally, other components have antimicrobial and healing effects, which keep wounds and ulcers in the mouth from worsening. Anemia: Coriander is high in iron content, which directly helps people who suffer from anemia. Iron also benefits proper functions of other organ systems, increases energy and strength, and promote the health of bones. 32
  18. 18. Bone health: As a rich source of calcium, coriander is of great value for people who want to protect the integrity of their bones. Calcium and other essential minerals found in coriander are integral components of bone re-growth and durability, as well as in the prevention of bone degradation so commonly associated with debilitating diseases like osteoporosis. 2.5 Available Sources of Basic Spice in Bangladeshi Market In case of powdered spice, consumers have two options to purchase Basic Spices. • Open Market • Branded Spice. Open Spice: The sources of open is main the bazaars, grocery shops. Tendency of using open spices is high in the rural areas. 32
  19. 19. Branded Spice: Branded spice are basically the packed spiced that are available in our country. Major brnads in our country are Radhuni, PRAN, BD, Pure, Arku etc. Brnaded spices claim themselves pure and hygienic. 32
  20. 20. 2.6 Consumption Level of Basic Spice in Bangladesh* Chili MT Open Market++ 68392 Brand 3349 Turmeric MT Open Market++ 102,060 Brand 2938 Coriander MT Open Market++ 6052 Brand 1704 Cumin MT Open Market++ 5134 Brand 294 *Data Source: Bangladesh Bureau of Statistics, 2012 32
  21. 21. 2.7 Market Trend • Consumers are transforming from basic to value added products or services • Branded products are taking places of traditional consumption patterns • Consumers are becoming more conscious about health and ensuring real food value • People are more convenient seeking, quality oriented, speedy and variety tasting • Delivering the right message to the targeted audience is becoming difficult 2.8 Adulterations of Open Market Spice Sl.No Spice Adulteration Test 1 Pour the sample in a beaker containing a mixture of Brick powder grit, Chili Powder chloroform and carbon tetrachloride. Brick powder sand, dirt, filth, etc. and grit will settle at the bottom. 2 A microscopic study reveals that only pure turmeric Starch of maize, is yellow colored, big in size and has an angular Turmeric Powder wheat, tapioca, rice structure. While foreign/added starches are colorless powder and color and small in size as compared to pure turmeric starch. 3 4 Cumin Powder Coriander Powder Grass seeds colored with charcoal dust Rub the cumin seeds on palms. If palms turn black adulteration in indicated . Sprinkle on water surface. Powdered bran and Powdered bran and sawdust float on the surface. Soak in water. Dung saw dust, Dung will float and can be easily detected by its foul powder smell. 32
  22. 22. 2.9 The Main Reason for Using Branded Spices • Quality remains same and Ease of carrying • Special Taste in Crushed Spices • Less Wastage and Quality Remains OK • Dust free and so Its Healthy • Saves Time & Healthy • Hassle Free & Time Saving • Easy to Use • Facilitate Fast Cooking • Hygienic 32
  23. 23. 3.1 Square Consumer Products Ltd We, SQUARE CONSUMER PRODUCTS LTD. have started producing and marketing intrinsic quality of powdered spices (Like chilli, turmeric,cumin and coriander), mixed spices and some ethnic snacks (Like Meat Curry Masala, Fish Curry Masala, Garam Masala, Haleem Mix, Chatpati Mix, Chanachur etc.) in terms of taste, flavor & texture. Beside these, our plan is manufacture and market various food & beverage items very shortly. 3.1.1 Mission Statement We want to be the world class food products manufacturer in Bangladesh by ensuring intrinsic quality products and customer service with state of the art technology and motivated employees. 3.1.2 Vision Statements • To continue to provide the very best of what the consumer wants • To explore new segments of market and to cater to it • To identify what the consumer needs and providing it to them • To continue to assure intrinsic quality of hygienic food products with authentic taste • To enhance customers' standard of food habit • To expand distribution network to make the products available at customers' doorsteps • To enhance the strength and skill of the organization that will contribute to company's increasing growth both in domestic and global markets 32
  24. 24. 3.2 Functions of Different Departments 3.2.1 Manufacturing Unit SQUARE CONSUMER PRODUCTS LTD.’s manufacturing Unit is located at Pabna, the northern part of Bangladesh, which is prominent for agricultural products with a view to source specific variety of raw materials. Our manufacturing unit is equipped with modern machinery. Our technical capabilities in processing, post-harvest handling, maintaining Good Manufacturing Practice (GMP) and modern grinding technology have given us decisive edge in the industry. Sourcing of high-quality raw materials is conducted mainly from different parts of Bangladesh for ensuring the right variety with highest quality. The raw materials are preserved in a well-organized storage facility with ensures proper ventilation. SQUARE CONSUMER PRODUCTS LTD. are in the process of achieving ISO9001:2000 and HACCP certification to follow strict quality policies as per CODEX. 3.2.2 Distribution We are maintaining a strong distribution network in the country. At present a total no. of 232 (Two Hundred Thirty Two) highly experienced Distributors are engaged to market our products throughout the country. 3.2.3 Export Market SQUARE CONSUMER PRODUCTS LTD. widened its horizon by exporting and marketing its products abroad within one year from the date of its inception. SQUARE CONSUMER PRODUCTS LTD. is now strengthening its export operations on its way to becoming a highperformance global competitor by supplying quality food products at competitive price. Its products comply with international phyto-sanitaion requirements. Starting its first export to South Korea in 2002, the company is currently exporting to several countries to Europe, Far East, Middle East and countries like USA, Canada, Australia and Japan. 32
  25. 25. 3.2.4 Countries, where we are exporting Square Consumer Products Limited is strengthening its export operations to become a high performing global player by supplying quality food products at reasonable price. Its products comply with international phyto-sanitary requirements. Starting its first export to South Korea in 2002, the company is currently exporting the products with international standards in more than 22 countries around the world, which includes Europe Germany, Spain, Italy, Cyprus, North America, Africa, South Korea, Japan, Bhutan, Australia, Middle East and East Asia. Technical capabilities in processing, post-harvest handling, maintaining Good Manufacturing Practice (GMP) and modern grinding technology have given Square Consumer Products Limited a strong competitive edge in the industry. 32
  26. 26. 3.3 Products profile: Basic Spice Range In 2001, Square Consumer Products Limited introduced “RADHUNI POWDERED SPICE” with a vision to provide quality “ready-to-cook” food ingredients for the homemakers. Within a very short span of time, RADHUNI POWDERED SPICE drew attention of modern homemakers those who had a strong demand for quality, convenience and timesaving cooking. Dedication to purity, consistent quality, and authentic taste has given “RADHUNI” unique position in the market. Within a year, Radhuni Spice achieved the crown of brand leader. 3.3.1 Chili: Radhuni powdered Chilli is vivid in color, precious in flavor. Best variety of red chilli provides more hotness. Price list of Radhuni Chili Powder S.L Product Name 1 2 3 4 5 6 Radhuni Chilli Powder Radhuni Chilli Powder Radhuni Chilli Powder Radhuni Chilli Powder Radhuni Chilli Powder Radhuni Chilli Powder Pack Size 15gm 50gm 100gm 200gm 500gm 1000gm Current T.P. 5.18 15.80 31.00 59.50 136.00 263.00 Current M.R.P 6.00 18.00 35.00 66.00 150.00 285.00 32
  27. 27. 3.3.2 Turmeric: Apart from having excellent antiseptic and antibacterial properties, it has a brilliant golden yellow color. Price list of Radhuni Turmeric Powder S.L Product Name Pack Size Current Current T.P. M.R.P 1 Radhuni Turmeric Powder 15gm 4.25 5.00 2 Radhuni Turmeric Powder 50gm 10.50 12.00 3 Radhuni Turmeric Powder 100gm 20.50 23.00 4 Radhuni Turmeric Powder 200gm 39.25 44.00 5 Radhuni Turmeric Powder 500gm 91.50 102.00 6 Radhuni Turmeric Powder 1000gm 174.00 194.00 3.3.3 Coriander: 32
  28. 28. Providing a fragrant flavor Radhuni Powdered Coriander is high in food value. Price list of Radhuni Coriander Powder S.L Product Name Pack Size Current Current T.P. M.R.P 1 Radhuni Coriander Powder 15gm 2.40 3.00 2 Radhuni Coriander Powder 50gm 7.00 8.00 3 Radhuni Coriander Powder 100gm 12.00 14.00 4 Radhuni Coriander Powder 200gm 22.00 25.00 5 Radhuni Coriander Powder 500gm 54.00 62.00 6 Radhuni Coriander Powder 1000gm 104.00 118.00 3.3.4 Cumin: 32
  29. 29. Provide the fresh aroma. Price list of Radhuni Cumin Powder Current Current T.P. M.R.P S.L Product Name Pack Size 1 Radhuni Cumin Powder 15gm 13.25 15.00 2 Radhuni Cumin Powder 50gm 40.00 45.00 3 Radhuni Cumin Powder 100gm 76.00 85.00 4 Radhuni Cumin Powder 200gm 150.00 165.00 5 Radhuni Cumin Powder 500gm 370.00 408.00 6 Radhuni Cumin Powder 1000gm 735.00 795.00 3.4 SWOT Analysis of Radhuni Basic Spices 32
  30. 30. Strengths: Weakness: • Coming from the house of “ SQUARE” • • SQUARE has the reputation in producing hygienic and superior quality products. Some consumers perceive our products to be of high price • Retailers are not happy with the benefits that we offer • Price gap with the open market is very noticeable. • RADHUNI has established itself as a household name • Strong brand presence in the mind of the consumers Opportunities: Threats: • Rise in middle class population • No entry barrier • Consumers have more disposable income • • Consumers are saying YES to good life styles. • People are more brand conscious The consumers are heavily influenced by Indian Culture, if a reputed Indian company partners with a local company, the consumers will shift to the Indian Branded products • Consumers are now becoming conscious about their well being. • Political Instability • Natural disasters 32
  31. 31. 3.5 Market Share Analysis Competitor Radhuni Pran Market share (%) Strengths Weaknesses 64% SQUARE has the reputation in producing hygienic and superior quality products. Some consumers perceive our products to be of high price 15 % Established itself as household brand. Strong distribution network. More than 250 products. Separate sales force Considered as cheap products, Made headlines for adulteration Popular in the Sylhet Region Tiger 7% Strong distribution in Sylhet Lack of national availability, Consumer cannot recall the brand, Established itself as a regional brand, No presence in any communication 4% Coming from the house of Partex, which is popular in the Particle Board & Condensed Milk category. Customers lack awareness and lack of availability ACI Pure 3% ACI Pure Atta, Moida and Suzi is a household name. The brand value of ACI is positive among the consumers Limited presence in the media, lack of awareness in the mind of consumers Others 6% -- -- RANI 32
  32. 32. 3.6 Sales Analysis of Radhuni 3.6.1 Chili: Chart: Sales of Radhuni Chili (2009 – 2013) 3.6.2 Turmeric: Chart: Sales of Radhuni Turmeric (2009 – 2013) 32
  33. 33. 3.6.3 Coriander: Chart: Sales of Radhuni Coriander (2009 – 2013) 3.6.4 Cumin: Chart: Sales of Radhuni Cumin (2009 – 2013) 32
  34. 34. 4.0 Consumer Perception: Concrete Findings 4.1 Gender of the respondents As branded spice consumer is both the male and female, so we decided to conduct our survey on both male and female consumers. There for we need to identify the frequency of male and female of our survey. From our survey we find the following result. Frequency Male 156 Female Total Valid Percent Valid Percent Cumulative Percent 78 78 78 44 22 22 100 200 100 100 Table 1: Gender of the respondents From the table we find that among 200 respondents, 78% of were male and the rest 22% were female. If we graphically represent the information, we for the following chart. Chart 1: Gender of the respondents 32
  35. 35. 4.2 Age of the respondents As we have surveyed 200 people for our research findings. We divide the age limit of our respondents into four groups. In this regard age is important because whenever it is the matter of judgment ethics, age is important factor. So it is important for us to conduct the survey in certain age limit. The following table shows the frequency of our survey findings regarding age of the respondents. Frequency Valid Percent Cumulative Percent 20-29 30-39 40-49 Above 50 30 110 40 20 15 55 20 10 15 55 20 10 15 70 90 100 Total Valid Percent 200 100 100 Table 2: Age of the respondents 15% respondents belong to age group 20 to 29; 55% respondents belong to age group 30 to 39; 20% respondents belong to age group 40 to 49; rest 10% respondents are above 50 age. If we graphically represent the above table it will looks like the following chart. Chart 2: Age of the respondents 32
  36. 36. 4.3 Occupation of the respondents Occupation is a very important factor in our survey because some classes of people think about packet spice. Obviously they are educated and have judgmental quality. I surveyed on following sector. Note that others occupation refers to student, educated homemaker and old people. Frequency Valid Service Business Others Total Percent Valid Percent 104 52 52 40 20 20 56 28 28 200 100 100 Table 3: Occupation of the respondents Cumulative Percent 52 72 100 The following chart shows the graphical picture of the above table. We see that 52% respondents were various services, 20% respondents from business sector. Rest 28% respondents came from others sector. Chart 3: Occupation of the respondents 4.4 Income level of the respondents 32
  37. 37. Income level of the respondents is important to purchase the banded spice. As our target customer is high profile people so income level is an important factor. We get the following result from our 200 randomly selected respondents. Valid 10000 - 19000 20000 - 29000 30000 - 39000 Above 40000 Total Frequency Percent Valid Percent 20 10 10 44 22 22 96 48 48 40 20 20 200 100 100 Table 4: Income level of the respondents Cumulative Percent 10 32 80 100 We see that out of 200 respondents, 48% respondents belongs to monthly income level of Tk. 30000- Tk. 39000, 22%respondents belongs to Tk. 20000- Tk. 29000. Almost 20% respondents belong to above Tk. 40000 income level per month. So we see that, our target customer is mostly high income group who can easily effort branded spice. As branded spice is comparatively costly than the open spices. The below graph will make the result more clear. Chart 4: Income level of the respondents 4.5 Type of Spice Consumed To make the report fruitful l and effective we needed to know what type of spices is used by our target customer. Because customer mainly used branded spices or open spices. Some people still 32
  38. 38. tend to use spices managed by their own. Among the 200 respondent, our observation is as follows. Branded Spice Open Spice Other Percent 65 22 13 Valid Percent 65 22 13 Total Valid Frequency 130 44 26 200 100 Cumulative Percent 65 87 100 100 Table 5: Type of spice consumed We found that, maximum 65% respondent use branded spice and 22% respondent use open spices. 13% people still manage spices by their own. They basically collect the raw spices and make the powder through local mill. They believe only in this process the can get the original taste, flavor of spices. Graphical representation of the data is as follows. Chart 5: Type of spice consumed 4.6 Preferred Brand for respondents 32
  39. 39. We needed to identify which brand our respondent mostly consumed. We asked this question to identify the market share of our Radhuni brand. In our question we named four top brand and other options indicates brands such as Tiger, ACI, Rupchada, Fresh etc. Radhuni PRAN BD Arku Others Percent 66 19 7 3 5 Valid Percent 66 19 7 3 5 Total Valid Frequency 132 38 14 6 10 200 100 Cumulative Percent 66 85 92 95 100 100 Table 6: Preferred brand of the respondents We found that 132 respondents out of 200 are use Radhuni branded spice.38 respondents is use PRAN spice. 18 respondents say that they use BD, 6 respondents say use Arku, 10 respondents use others spice. Chart 6: Preferred brand of the respondents 4.7 Which Matter Influences You Most When Purchasing Packet Spices? 32
  40. 40. As the spice is a sensitive product for the cooking of daily food, people do not take the risk about quality and so they give concentration on the previous experience of using specific brand. Chart 7: Influencing factor to purchase basic spice 4.8 Which Issue You Give Most Importance For Defining Quality Spices? For the Product category basic spice, the taste, color & aroma all are important simultaneously. Therefore, every part has equal role for cooking perfect food. Chart 8: Important factor to define quality spice 4.9 Does Brand name is important to the respondents 32
  41. 41. We needed to know how important the brand name is. What they feel regarding the brand name against the question we get the following result from our 200 respondent. Frequency Valid Percent Valid Percent Strongly Agree 28 14 14 Agree 104 52 52 Neutral 14 7 7 Disagree 38 19 19 Strongly Disagree 16 8 8 Total 200 100 100 Table 7: Brand name is important for respondents Cumulative Percent 14 66 73 92 100 We found that 52% respondent think that brand name is important to them. 19% respondent thinks that brand name is not important for them, 14% respondent is strongly agreed about brand name. 8% respondent is strongly disagree that brand name is not important at all. Chart 9: Brand name is important for respondents 4.10 Availability of the products is important for respondents Customers want the product available within their reach availability of the Product is important to them. We asked this question to our respondent and get the following response. 32
  42. 42. Frequency Valid Percent Valid Percent Strongly Agree 156 78 78 Agree 44 22 22 Total 200 100 100 Table 8: Product availability is important for respondents Cumulative Percent 78 100 78% respondent thinks that the products should be available within their reach. The need the demanded products right after they feel the need of the products where ever the stay. Whereas only 22% respondent thinks they would give extra effort to get their desire product if that is not that available surround them. Because they will not accept any alternative of that products. Chart 10: Product availability is important for respondents 4.11 Emphasis on quality of branded spice 32
  43. 43. We needed to identify the consumer perception of the branded spice quality. Usually people demand the quality products for their daily consumption. Response from our 200 respondent is as follows. Frequency Valid Percent Valid Percent Strongly Agree 178 89 89 Agree 18 9 9 Disagree 4 2 2 Total 200 100 100 Table 9: Emphasize on quality of branded spice Cumulative Percent 89 98 100 Among the respondent, 89% is not agreed to compromise with the quality of the branded spice. They need the quality products at any cost. They strongly agreed that quality issue is most important factor where 9% only agreed with them. Rest 2% disagrees with this opinion. They think branded spice usually quality products. So they really don’t think about quality issue regarding branded spice. Chart 11: Emphasize on quality of branded spice 4.12 Branded spice is costly compare than the quality 32
  44. 44. What is the perception regarding the price of branded spice what they think about cost of branded spice. Does the price is higher compare to quality. We asked the question and get the following response. Frequency Valid Percent Valid Percent Strongly Agree 120 60 60 Agree 40 20 20 Disagree 40 20 20 Total 200 100 100 Table 10: Branded spice is costly compare than the quality Cumulative Percent 60 80 100 We found that 60% respondent strongly agreed that price of branded spice is higher is compare to its quality. 20% respondents simply agree with this. Rest 20% disagreed with this statement. Chart 12: Branded spice is costly compare than the quality 4.13 Branded spice is hassle free & time saving 32
  45. 45. Does branded spice hassle free to use and time saving? We ask this question to our respondent and get the following response from the respondent. Frequency Valid Percent Valid Percent Strongly Agree 156 78 78 Agree 30 15 15 Neutral 6 3 3 Disagree 8 4 4 Total 200 100 100 Table 11: Branded spice is hassle free & time saving Cumulative Percent 78 93 96 100 78% respondent strongly agreed that using braded spice is time saving and hassle free. Branded spice is easy to use. 15% respondent agreed that branded spice is time saving. Only 4% disagreed with this. Chart 13: Branded spice is hassle free & time saving 32
  46. 46. 4.14 Hygiene factor is important for respondents How much the hygiene factor is important to the consumer? What the consumer really think regarding the hygiene on branded spice. We needed to know the perception regarding the hygiene factor of branded spice. Frequency Valid Percent Valid Percent Strongly Agree 176 88 88 Agree 24 12 12 Total 200 100 100 Table 12: Hygiene factor is important for respondents Cumulative Percent 88 100 88% strongly agreed that hygiene is very much important to them. They prioritize the health issue on consumer products. In addition, they are not agreed to compromise with hygiene issue. Chart 14: Hygiene factor is important for respondents 32
  47. 47. 4.15 I think smell & test remain ok in branded spice All brands usually claims that smell and taste remain same in branded packed spice. However, what the customer’s opinion regarding this issue? Does smell and taste really remain ok in branded spice? We get the following response from the respondent. Valid Cumulative 12 63 18 Percent 12 63 18 Percent 12 75 93 7 7 100 Frequency Valid Strongly Agree Agree Disagree Strongly Disagree Total Percent 24 126 36 14 200 100 100 Table 13: Smell & test remain ok in branded spice 12% respondent strongly agrees that test and smell agreed remain same in branded spice. While 63% respondent agreed with this. 18% respondents do not think that, taste and smell remain same in branded spice. They think some sort of chemical is mixed with the packed spice which decreases the quality, taste and original smell. 32
  48. 48. Chart 15: Smell & test remain ok in branded spice 5.0 Marketing Strategy to Overcome Problem 5.1 Target Customer Profile Positioning Statement: Assurance of purity Target Market of Spice: Geographic Location: Urban, sub-urban Demographic: • Age: 25-40 • Gender: Female • HSC/SSC: 34% • Graduate: 33% • Postgraduate/Vocational: 17% • Degree/Diploma: 14% Education: Income Level: • Tk. 20,000 and above: 48% • Tk. 10,000-20,000: 47% • Tk. 10,000 and less: 5% Household Member: • 3-5: 66% • 6-8: 20% 32
  49. 49. • 1-2: 12% • More than 8: 2% • Social Stratification: Middle to Upper class • Buying Habit : Frequent • Psychographics: Look for Purity with authentic taste Wants care & tenderness for the family Sensible and conscious Seek convenience in cooking 5.2 Consumer Trend & Outlook Food product development needs to be based on consumers' needs and wants to be successful. Like mass-individualization, globalization and an altered interpretation of the food quality concept by consumers. Radhuni Powdered Spice has become relevant in this respect. Female lifestyle scenario changed then one decade before. At that time, maximum female was homemaker, stay all day at house, gossiping with neighbor, watch TV, supervise maidservant, pass time to collect whole spices from market and prepare food dishes. These days unprecedented numbers of women are invading in different professions, they are well educated, concern about quality and nutritional value of product. Women also show greater concern about issues that directly affect the family and home life. They left at morning and return home at evening yet they want to take proper care of their family. Maidservants are not available like before so every work accomplished by their own. Therefore, Consumers’ these days are more dependent on powdered ready spice. Since consumer have many options for branded powdered spice they want the one which assures the purity and deliver authentic taste and color. Key consumer insights to Powder Spices • Easy & fast cooking ensuring delicious aroma & flavor while cooking & eating. • Want to save time in cooking to give more time for kids, family & entertainment. 32
  50. 50. • Want to cook with powder spice and expect traditional authentic taste and color. • More concern about the bout the food quality and well-being of the family members and intend to take quality product. 5.3 Benefits from Radhuni Powder Spices • Selected from best verities of quality raw materials from grower level • Strictly maintain international quality standard. • Assurance of quality, taste, and flavor of home –ground spice. • Ensures delicious aroma & flavor while cooking & eating of different curries. Product Strengths: • Original and authentic taste & fresh aroma. • Finely pulverized and not musty. • 100% free from adulteration. • Full release of flavor during cooking. • Grinding procedure retain essential volatile oil. • Grinded from selected crops. • Produced from modern spice processing plant. • Strong brand image. 5.4 Radhuni Strategy 5.4.1 Product Strategy 32
  51. 51. Radhuni Powdered Spice ensures purity. In the year 2012 we want to maintain this consistency of quality and deliver best quality spice to the consumer to satisfy their need and want. Besides basic spice is a product that have hardly any scope to add extra value to the product. Therefore we will add value through packaging by launching a different SKU in convenient Jar. Also we will add new variant of basic spice in the basic spice product range and that is ''Pasted spice''. 5.4.2 Pricing strategy In the year 2013 our objective is to maintain competitive and stable price. We will not give competitors any scope to gain big price advantage. We will also maintain the price at an acceptable range compare to open spice. Because consumers very easily compare the price with the open spice and tend to switch from branded spice to open spice. We will maintain the competitive price by taking following steps. • Effective inventory management: To achieve our objective we will manage our inventory effectively. We will collect maximum RM during the harvesting season when the prices are low. So when the prices of RM high we can use up our low priced RM to gain advantage over competitors. Besides we will constantly monitor the market scenario of RM throughout the year and maintain inventory of RM as accordingly. 5.4.3 Distribution Strategy We will follow the existing distribution strategy and network. Currently we are using separate distribution channels for retailers, different institution, and bulk buyers like super shop, hospital, canteen etc. To reach the above organization we have the following distribution system- To reach all over the country we have the following distribution system- 32
  52. 52. To meet the objective of 2013 we need to take following steps regarding the distribution strategy. • Improve the outlet reach especially in the north and south region. • Explore the new organization for sale including outside Dhaka like number of large hotel In Chittagong, Sylhet, Cox's Bazaar and other Divisional cities. 5.4.4 Promotional Strategy Since there are few differentiating factors in the existing brands, we have to use combination of rational & emotional strategy to communicate with the consumers. So far, we have taken the position of quality product and communicated with the consumers in the same line. Radhuni already won the credibility of high quality product from the consumers. Up to 2008, we have communicated the authentic taste of Radhuni powdered spice and its pure quality. In 2008 on our communication campaign we focused on creating awareness among consumers about not to compromise with the quality of daily food of the family as there is family health issue is concern. In 2009 we have re-enforced & further strengthen our on going quality issue in spice consumption by launching endorsement campaign by Siddika Kabir in all media including ATL and BTL. For 2010 to 2012 we concentrated our promotional campaign on the uncompromising stand regarding finding the best quality food ingredients for family. In the year 2012 we will concentrate on “Radhuni gives assurance of purity that delivers desired taste and color”. Promotional objective: • A safe & quality assured food ingredient that will give you the feel of traditional taste with living a healthy life • Motivate consumers relay only on Radhuni because Radhuni gives assurance of purity that delivers desired taste and color. • Motivate target consumers for choosing the pure & quality spice for cooking through rational and emotional appeal. • Create aspiration for using Radhuni Branded Spice in food preparation and attract new consumer. • Create strong emotional bonding with Radhuni Branded powder spice and make it an obvious choice for consumer because Radhuni ensure purity and deliver authentic taste. Estimated Promotional Budget of 2013: 32
  53. 53. Estimated budget Percentage against amount (Tk.) target of 2013 88,013,00.004 3.94% Followings are the strategic activity to achieve our objective. • About 40% of the total promotional budget will be spent in electronic media to get maximum reach. Insertion frequency will be high during launching new campaign and festival. • Five new TVC will be made on powdered spice in the year 2013. Two TVC will be on Turmeric and Chilli each and two on whole range. One TVC on CP. • 8% of the total budget will be spent on print media to support launch of new campaign. • 300 new shop signs and new bazaar branding at Chittagong and Sylhet will be done in 2013. • Shera Radhuni competition and celebration of Naridibosh event will be held in 2013 which will promote the brand among TG. • Consumer Promotion (CP) offer will be given to give consumer extra value for their expenditure. 10% of the total promotional budget will be spent to run CP program. 32
  54. 54. 5.4.5 Action Plan Strategy Strategic Use: ATL & BTL Media Key Media Type TV Media Radio Media Print Media Digital Media Tactical Plan TVC, Pop-up, L-shape Strategic Branding Strategic Time slot Own Program/Reality Show RDC Strategic Branding Strategic Time slot Community Radio Supplementary Local Newspaper Consumer Interaction by Magazine Creative Ad in Magazine Popular Web Portal Ad Presence in the Social Media E-mail Marketing SMS Marketing Online Competition 32
  55. 55. Outdoor Media Billboard Wall Paint & Wall Hang LCD-LED Advertisement Bazaar Branding, Shop sign Events, Activations POS Electronic Media We will prepare two new TVC for Turmeric and Chilli separately and promote these two products as category leader. In between we will make one TVC on the whole Basic Spice range to promote the whole range. These TVC will communicate the massage that Radhuni ensures purity which will deliver you desired taste and color from generation to generation. Another new TVC will be made during August and will go on air from September 2013. This new TVC will be on the hardship and dedication from Square member to deliver the finest quality spice to the consumers. One TVC will be made for promoting CP program. Press & Magazine New press ad design will be developed for supporting new campaign. New press ad design will also be developed for CP program. Major news papers and magazines will be used for press and magazine campaign. POS/POP Merchandising is silent sales man- therefore we want to emphasize on proper merchandising of our products at outlets. Besides POS, material will be developed in support of new TVC campaigns and CP program. Out Door In 2013, we will install 500 new shop boards. Besides, we will also go for bazaar branding in Chittagong and Sylhet. Few new billboards will be taken in 2013 at Chittagong city; we will also renew the existing billboards, Passenger sheds, Light boxes, Gondolas, Transit ad and Shop Signs. 32
  56. 56. Events & Activation In the year 2013 we will execute following event and activation. • Nari Dibosh: 8th March of every year has been celebrated as Nari Dibosh. We will celebrate this day to congratulate the successful women for the year 2012. The objective to celebrate this day is to affiliate Radhuni with the betterment of women. • Shera Radhuni: To promote traditional cooking of Bangladesh we have been arranging best cook competition ‘Shera Radhuni’ all over Bangladesh. Radhuni Cook Show: This year Square Consumer Products Ltd will make an agreement with Ms. Nahid Osman (renowned cook in Bangladesh) as Brand Ambassador and will prepare cook show round the year which will telecast on Maasranga Television CP program Consumer Promotion (CP) program will run for two months from July’13 to August’13. This period is chosen targeting the Ramadan period. The objective is to give consumer extra benefit during Ramadan when maximum consumption of powdered spice is occurred. Besides this Consumer Promotion (CP) will conducts at different Superstore in Dhaka City to fulfill the same purpose. 32
  57. 57. 6.0 Recommendations There are good numbers of brands coming with the same proposition of good quality, so SCPL is heading towards an immense competition in near future. In the backdrop of the above findings the following recommendations can be made: • Majority of the consumer believe that the price of Radhuni is high. Because of its quality. SCPL should consider value based pricing instead of competitive and cost based pricing. • To increase the efficiency of the dealers, SCPL can offer special trade promotions such as incentive, bonus, foreign tours etc, for the best performers. • The promotional effort of SCPL is satisfactory and it should be continued. At the same time, they can adopt creative advertising to differentiate their products from others. • To hold and create new customers of Radhuni Basic Spice, SCPL should consider the following: • Conducting frequent customer survey • Developing new user group • Launching new value adding products 32
  58. 58. • • Identifying new overseas market for further increase in export SCPL need to increase their promotional expenses and it should execute the action plan properly. • SCPL need to increase the media presence to create new customer base and remain in customer mind SCPL is holding the maximum market share with Radhuni Basic Spice. It maintains its leadership through well-planned action program, motivated and trained personnel and by projecting a favorable company image among the customers. Under intensifying competition in the market and changing attitudes towards the branded spice powder, SCPL should consider the above recommendations. 7. 0 Conclusion In 2001, Square Consumer Products Limited introduced Radhuni Basic Spice with a vision to provide quality “ready-to-cook” food ingredients for the housewives. Within a very short span of time, Radhuni Basic Spice drew attention of modern housewives those who had a latent demand for convenience and time-saving cooking. Dedication to quality has given Radhuni Basic Spice unique position in the market. Radhuni Basic Spice considered as the pioneer in Branded spices. By ensuring taste, quality, attractive packaging & good coverage throughout the country, Radhuni has been getting a remarkable response from market. A year after its operation Radhuni Spice achieved the crown of the leader. Products ranging from Basic spices, mixed spices, Cereal & Pulses to Edible oil are currently available under the name of Radhuni. Radhuni Basic Spice has been dominating branded spice market since 2003. Currently in branded powdered spice category, Radhuni is the brand leader. Radhuni achieved the crown of brand leader by offering superior quality of powdered spice and authentic taste. So it can be said that Radhuni has created the branded powder spice market. As consumers are shifting towards branded powdered spice, the market size of branded powder spice is increasing very fast. 32
  59. 59. Bibliography • Kotler,Philip. Armstrong, Gary.2008. principles of Marketing, Pearson Prentice Hall, United State of America • Mallhotra, Naresh.K. 2003. Marketing Research, Prentice Hall International, United State of America • • www.theepicentre.com Crosby, M. R. (2008). "Senna," Microsoft® Encarta® Online Encyclopedia 2008. Retrieved from http://encarta.msn.com/encyclopedia_761561243/Senna.html • Retrieved from World Wide Web: http://www.celtnet.org.uk/recipes/roman.html? PHPSESSID=26caf3bc35486152e548b7b2dc0eb0bd) "Spices," Microsoft® Encarta® Online Encyclopedia 2008. Retrieved from World Wide Web: http://encarta.msn.com/encnet/refpages/RefArticle.aspx?refid=761564609 /spices.html on 25.05.2008 Retrieved from World Wide Web : http://www.foodproductdesign.com/articles/herbsand-spices.html www.squarefoods.com.bd (official website of SCPL) http://www.google.com Bangladesh Bureau of Statistics • • • • • 32
  60. 60. Appendix • A set of blank questionnaire on which the survey was conducted. 32

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