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Kerala Agricultural University

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  1. 1. KERALAAGRICULTURAL UNIVERSITY College of Co-operation Banking and Management MBA-Agribusiness Management Minor Project Market Potential of Rice Powder by Jayabharath Modern Rice Mills Submitted By Akaresh Jose (2015-31-009) Under the guidance of : Dr. R. SENDIL KUMAR PROFESSOR (AGRICULTURAL EXTENSION) CCB&M,KAU 1
  2. 2. STATEMENT OF THE PROBLEM • Jayabharath rice mill is having a well flourished production unit for producing different variety of rice. Also they have an immense potential to expand with product diversification. Supply and demand for rice is on hike. • Market Potential will help the company to take decision in launching the rice powder to the market. So the market analysis should be designed in such a way that it helps in bringing out the actual demand for the product. 2
  3. 3. Cont. • The present study is to analyze the market potential of Rice Powder in Thrissur Corporation. 3
  4. 4. OBJECTIVES OF THE STUDY •To know the awareness of Rice Powder among customers available in the market. •To identify the factors influencing the purchasing behavior of the respondent. •To study the market potential of Rice Powder in Thrissur Corporation by Jayabharath Modern Rice Mill. 4
  5. 5. METHODOLOGY • The period of the study The period of the study is during the months of March 21st to May 10th 2016 • Sources of data Thrissur Corporation is the study area used for the study. Out of the entire population of Thrissur corporation, a sample size 30 Retailers & 60 Households. Retailers are of groceries and consumers are of household. 5
  6. 6. SAMPLING DESIGN • For the study a sample of 60 consumers and 30 retailors from Thrissur Corporation was selected purposively. • Out of the entire population of Thrissur Corporation, a sample size of 90 respondents is taken. • The sample is taken both from rural and urban areas of Thrissur Corporation. 6
  7. 7. Cont.… • Primary data will be collected by administrating structured interview schedule to consumers. • Simple Random Sampling (with replacement) is used for the analysis. • In Thrissur corporation there are 55 wards, of which 5 regions are selected at random in such a way that it includes all four directions (north, south, east, west & central). 7
  8. 8. DATAANALYSIS • Percentage and indices were used for analysis of the data. • The suitability of various promotional activities were analysed on five-point scale: excellent, good, average, poor, very poor. 8
  9. 9. Highly satisfied 5 Satisfied 4 Moderately satisfied 3 Dissatisfied 2 Highly satisfied 1 • The total score obtained for the variable is divided by the maximum score obtained for the variable to calculate the satisfaction index for analyzing the customer satisfaction towards Swad products. • The maximum score obtained for the variable is calculated by multiplying maximum score of the opinion and total number of respondent. 9
  10. 10. • For determining the extent to which purchasing decisions have influenced the factors of purchase, the data were collected on five - point scale; Strongly agree, Agree, Not sure, Disagree, Strongly disagree. The respondents were asked to rank each factor based on their influence. • After that marks were assigned to each rank as follows. For the first rank a mark of 1 was given and for the twelfth rank, mark assigned was 12 and other marks were between this range (i.e. for rank 1 to 12, marks of 1 to 12 were given respectively). 10
  11. 11. • So the most influencing factor of consumer’s choice and product choice given rank 1. Similarly, the less influencing factor of customerschoice and product choice given the highest rank respectively. The frequencies of each factor obtained were summed up to arrive at the rank of each factor. 11
  12. 12. VARIABLES •Advertisement •Packaging •Display •Quantity •Quality •Price •Colour •Brand image •Retailer's Suggestion •Availability •Friends and Relatives suggestions •Labelling 12
  13. 13. LIMITATION •It may not be generalised till the same is validated by conducting a study with larger sample. • The study is limited to time constraints 13
  15. 15. Frequency of Purchase 44 13 3 60 0 10 20 30 40 50 60 70 FREQ OCCA RARE Total Frequency of Purchase 15
  16. 16. Price satisfaction 42, 70% 18, 30% Chart Title 1 2 16
  17. 17. Product available in your area 32 18 60 53.3 46.7 100 0 20 40 60 80 100 120 N Y Total Frequency Percent 17
  18. 18. Acquiring of rice powder 10 50 60 16.7 83.3 100 0 20 40 60 80 100 120 Grind at mill Purchase Total Chart Title Frequency Percent 18
  19. 19. Rice powder being purchased 50 10 60 77.7 22.3 100 0 20 40 60 80 100 120 Retail Shop Wholesaler Total RICE POWDER BING PURCHASED Frequency Percent 19
  20. 20. Brand Loyalty 29 31 60 48.3 51.7 100 0 20 40 60 80 100 120 N0 Yes Total Brand Loyalty Frequency Percent 20
  21. 21. Brand Awareness of Different Company’s 30 10 10 10 60 50 16.7 16.7 16.7 100 0 20 40 60 80 100 120 EASTERN ELITE NIRAPARA SWAD Total Brand Awareness of different Company's Series1 Series2 21
  23. 23. MAJOR FINDINGS • The survey shows that majority percent of the respondents are aware of Rice Powder. The Band Preference is one of the most important element stressed by the respondents. The respondents are aware about the brand like Nirapara, Elite, Swad, Pavizham etc. • Almost large numbers of the respondents are don’t wish to shift their brand and only a small number of the respondents are willing to change their brand. 23
  24. 24. • Respondents identified availability and poor quality as a reason for brand shifting more than any other reason. • Among the various brands available in the markets respondents are using the brand Nirapara more than any other brand. Eastern, Elite and Swad was equally ranked, followed by other brands. 24
  25. 25. • Price provided by various brand in the market are not satisfied by the customers. The price needs to be revised. • Product is not easily available in some area. So, it is an opportunity to make the product reach the customer in a better manner. • Consumers prefer to by the rice powder frequently. Those who are using the rice powder are purchasing the product frequently and some consumers prefer to by the product occasionally. 25
  26. 26. • Consumers prefer the quantity of purchase as 1 kg and the purchase it frequently. So the quantity can be sold in 1 kg, 2 kg, since most sales are done on these quantities. • Mainly most of the customers are purchasing the rice powder rather than grinding it at the mill. So, there is a wide opportunity for the sale of the rice powder. • Retail shop is mostly preferred by the customers for the purchase of the rice powder and some portion of the customers prefer the wholesale shop. 26
  27. 27. MAJOR SUGGESTIONS • The company should focus more on the variables like quality, packaging, availability, advertisement, price offer etc. Because it is all these variables are highly influenced by the consumers and retailers. • The product should be available to the customer in the reach. It should be available in the local areas as well as popular areas. If the product is available in all areas, consumers prefer to by that brand. 27
  28. 28. • Introduce more retail outlets and make it easy availability. The promotional strategy of exhibition and offers and schemes is needed to be improved. • Customer prefer to buy the product frequently. So, the availability of the product is to be ensured for a better sale and to create a better brand image. It should be available in 1 kg and 2 kg. 28
  29. 29. • Price provided by various brand in the market are not satisfied by the customers. The price needs to be revised. If the price is too high people won’t prefer to buy it and they will prefer to grind it and it will lose the market. Since the company is having the mill it will be possible to sell the rice powder at better price so it should be also considered. 29
  30. 30. CONCLUSION • From the findings of this study, it is evident that brand for the rice powder evolved over time. • Price is an important factor needs to be considered. • Market is changing and people are looking for better products and those company which offer a better product becomes the market leader. 30
  31. 31. Cont. • Based on the findings, it was concluded that there was a good demand for the product Rice Powder. Some Brands have high demand in the market, but even the frequent customers were unaware about many other brands. • Those who uses a particular brand prefer to continue it. • It is an opportunity for our company to emerge in the market. 31
  32. 32. Any Questions… ???
  33. 33. Thank You