Doing training was really an opportunity before me and when I could convert my theoretical knowledge into practical and of real world type. Fortunately, the company I got is a true follower of the various principles of management and also is the one of the good company in its segment of the industry. The working environment that I was being provided was extraordinary and helped me a lot in delivering my work properly and with full potency of mine. I did my summer training in the United Spirits Ltd, where I found all the professionals are very much committed to their work as well as they were all professionals enough. This helped me a lot in getting a good deal of exposure. As I had to consult the Manager and assistant manager, I felt myself, in the beginning, in a bit problem. But the cooperation of my superiors at the work induced confidence in me to deal with my problems. But the cooperation of my superiors at the work induced confidence in me to deal with my problems whenever they came. Since I had to complete my project within a limited time frame, this made me experience the actual stress of the workplace. The way the boss supported me and his other subordinates was a good example of coordination and good manager. This shows that in the corporate world the superior officer should not only take care of the target fulfilled but also the behavioural aspect of the subordinates. Working with the colleagues was a great experience as I came to know that how a person can work as a team in a multifarious industry to achieve the organizational goal. Many a times,
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Transcript
Doing training was really an opportunity before me and when I could convert my theoretical
knowledge into practical and of real world type. Fortunately, the company I got is a true
follower of the various principles of management and also is the one of the good company in
its segment of the industry. The working environment that I was being provided was
extraordinary and helped me a lot in delivering my work properly and with full potency of
mine.
I did my summer training in the United Spirits Ltd, where I found all the professionals are
very much committed to their work as well as they were all professionals enough. This
helped me a lot in getting a good deal of exposure. As I had to consult the Manager and
assistant manager, I felt myself, in the beginning, in a bit problem. But the cooperation of my
superiors at the work induced confidence in me to deal with my problems. But the
cooperation of my superiors at the work induced confidence in me to deal with my problems
whenever they came.
Since I had to complete my project within a limited time frame, this made me experience the
actual stress of the workplace. The way the boss supported me and his other subordinates was
a good example of coordination and good manager. This shows that in the corporate world
the superior officer should not only take care of the target fulfilled but also the behavioural
aspect of the subordinates.
Working with the colleagues was a great experience as I came to know that how a person can
work as a team in a multifarious industry to achieve the organizational goal. Many a times,
while working, I had to sacrifice my personal feelings and inspirations just to keep the
organizational interests in my mind by giving it the top most priority. Indeed, I always tried
to do justice with my duties even at the cost of my personal life for the time being. But this
could be a success, as I got continuous support from my guide as well as other officers &
colleagues.
So, at last I would like to thank my institution for providing me with the opportunity to do
summer training, I am also grateful to the United Sprits Ltd for providing me all the
assistance in completing my project.
Contents
1. Acknowledgement………………………………………………4
2. Declaration………………………………………………………5
3. Executive Summary…………………………………………….6
4. USL at a glance………………………………………………….7
5. Government Policies of Liquor Sector………………………..14
6. Introduction to Liquor Industry……………………………….15
7. Market Analysis…………………………………………………16
8. Brand Management In Liquor Industry……………………….18
9. Wines In India……………………………………………………21
10. Market Analysis Of Wines………………………………………22
11. Product and Brand Management For Wines…………………..26
12. Brand Equity Pyramid…………………………………………..28
13. Marketing Mix……………………………………………………30
14. Literature Review………………………………………………...33
15. Objective of the Study……………………………………………38
16. Research Methodology……………………………………………38
17. Data analysis and interpretation…………………………………40
18. Findings ……………………………………………………………65
19. Limitations of the Study And Recommendation………………...66
- Improve awareness through visibility at the point of sales
- Especially relevant off trade: mass and specialized retail
- More efficient if coupled with tasting or brochure distribution
- By-the-glass promotion: the essential tool to develop the consumption of premium wines in
India - Can be supported by promoters in some restaurants/clubs
- Food Pairing: still nascent but very promising
- Improve awareness through well documented press articles
- Inviting wine maker to the market or the journalist to the winery Activities like wine tours,
sponsoring social evening etc will help us in positioning our Brand as an lifestyle product. It
will also generate awareness and induce curiosity among the target segment to try wine over
other alcoholic products.
Review of literature
Hooley, G. J(Jan. 1979) has studied perceptual mapping for product positioning in his article
“Perceptual Mapping for Product Positioning: A Comparison of Two Approaches” and has
stated that Multivariate techniques for market segmentation and product positioning can be
used by applying one of 2 approaches to the formulation of a perceptual map. The first
approach uses individuals' judgments of brand attributes which have been obtained through
earlier, qualitative research. The judgments are analyzed by using multiple discriminant
analysis to distinguish attributes between brands. The perceptual map's dimensions are
suggested by the attributes. The second approach is based on direct judgments of similarity
between brands which have been measured by ranking or rating pairs of brands. If the model
is to be of practical value to management, perceptions must be related to behavior or intended
behavior. This can be achieved by superimposing individuals' ideal points on the brand map.
Using brand attributes alone for mapping purposes may not lead to an operationally useful
model of consumer perceptions because of the existing possibilities of omitting important
attributes and including irrelevant attributes. Choosing the appropriate type of multiple
discriminant analysis is important if the model is to be of any use. The multidimensional
scaling method offers an alternative approach. It is the most costly and cumbersome but does
not have the inherent drawbacks.
Fassino and Michael J(.Jan 6, 1984) have given New Approach Eliminates Inherent
Shortcomings of Perceptual Maps and have stated that Perceptual maps illustrate market
segmentation by representing positions of a group of competing products relative to the basic
criteria consumers use when evaluating these products. The usefulness of conventional
perceptual mapping is limited by: 1. a special/geometric representation of data that is not
always the best way to communicate a relationship, 2. inability to show trends, and 3. the
possibility of overstating similarities/differences or representing relationships ambiguously.
A new approach to perceptual mapping, was developed to overcome these inherent
shortcomings. Similarity trees (SIMITREE) represents the distance between products in
terms of paths or trees. The more similar the products are judged, the shorter the paths are
that connect them. Initially, all products are equidistant from each other, but are pulled apart
or pushed closer together by their differential association with the various product features.
SIMITREE provides new insights into relative strengths and weaknesses of products in the
marketplace. 34
Michel J. ( Apr 1987)has studied that what people think about the products in his article
“Find Out How Your Product Is Viewed” and has stated that Before customer can make
choices, they must first perceive that: 1. alternatives exist, 2. products are somehow different,
and 3. the ways in which products differ are important. There are a set of powerful techniques
for modeling this primary and important phase of the choice/preference process. The
procedures, known as perceptual mapping, share 2 allied goals: 1. to determine the basic
attitudinal dimensions physicians or consumers use in differentiating products, and 2. to
locate precisely the relative position a set of branded or potential products occupies on these
basic dimensions.
Hauser, John R., and Koppelman, Frank S.( Nov 1979) have given Alternative Perceptual
Mapping Techniques in their article “Alternative Perceptual Mapping Techniques: Relative
Accuracy and Usefulness” and have stated that Perceptual mapping has been widely used in
marketing to: 1. analyze market structure, 2. design new products, and 3. develop advertising
strategies. However, theoretical arguments have developed and empirical evidence has
emerged which indicate that factor analysis is superior to discriminant analysis and similarity
scaling, which are the current techniques used. Factor analysis provides more accurate
predictive ability. It also facilitates managerial interpretability and ease of use.Factor analysis
is likely to be superior in developing measures of consumer perceptions in categories where:
1. the number of products in the average consumer's evoked set is relatively small, 2. there is
variation in the way consumers perceive products in the category, and 3. qualitative research
has identified a set of attributes likely to represent the product category. The results of a
single theoretical and empirical comparison may spur the need for continued research to
identify whether factor analysis is always superior or, if not, under what conditions the
alternative mapping techniques should be used.
Johnson, and Rick. (march 1988) have analysed Perceptual Mapping in their article
“Adaptive Perceptual Mapping” and have concluded that In marketing, most perceptual
mapping studies have the following objectives: 1. to learn how products in a class are
perceived with respect to strengths, weaknesses, and similarities with each other, 2. to find
out what potential buyers want, and 3. to learn how to produce or modify a product to
maximize its appeal to the target population of potential buyers. The Adaptive Perceptual
Mapping (APM) System from Sawtooth 35
Software can provide researchers with a useful interview tool divided into several distinct
sections. APM allows a market simulation using factor analysis to create a product space for
each separate respondent, containing product perceptions and ideal point. Respondents'
distances are changed to shares of preference, which in turn are aggregated over respondents
to produce the "base case" in which products are currently perceived. A series of simulations
in which products are repositioned in various ways then can be performed to achieve useful
marketing estimates.
Zaichowsky et al (july 2010) have studied the ways of Managing industrial brand equity in
their article “Managing industrial brand equity: Developing tangible benefits for intangible
assets” and have stated that Young and Rubicam's (Y&R) BrandAsset Valuator® (BAV),
commonly used to assess brand equity in consumer markets, was applied to assess the brand
health of an industrial B2B supplier. Customers were asked questions about perceived
esteem, relevance, knowledge and differentiation of the company to find its strengths and
weaknesses. The results were then plotted to reveal the overall customer perception of the
company and also its competitors. Through this plot, the strategic direction how to improve
the brand equity of the company became clear. Evidence suggests that the BAV can be used
in industrial markets to assess the brand equity of the firm.
Ashton A. S. et al.(July 2010) have stated “The relationship between perceived value and
intention to purchase” in their article Hotel restaurant dining: The relationship between
perceived value and intention to purchase” and have concluded that Restaurants affiliated
with the hotel industry play an important role in increasing revenue and responding
effectively to customer expectations. This paper examines how perceived value relates to
intention to purchase (ITP) in the context of hotel restaurant dining using a quantitative
approach involving multiple regression analysis. In addition, the findings indicate that there
are three significant key variables that positively contribute to ITP: perceived brand image,
perceived quality and perceived sacrifice (both monetary and non-monetary price)
Ziqi Liao and Xinping Shi. (2009) have explored consumer perceptions of Internet-based e-
retailing in a highly concentrated retail market environment in their article “ Consumer
perceptions of internet-based e-retailing: an empirical research in Hong Kong” and have 36
incorporated market and social factors to examine consumer attitude and behavioral intention
to use Internet-based e-retailing based on the survey data collected from individuals in Hong
Kong. The empirical results suggest that perceived usefulness and perceived ease of use have
positive impact on consumer attitude towards e-retail business. The easily accessible local
retail market and the concern about risk in the virtual environment significantly affect
consumer attitude and behavioral intention to use e-retailing. However, consumers may
consider using e-retailing if they are influenced by particular social groups. Future research
can be carried out along similar contextual dimensions to explore consumer behavior and
critical success factors of e-retail business in different geographical environments and social
contexts. The present findings have theoretical and practical implications for managing and
developing e-retail business.
Nan Kwon K et al (2008) have investigated the effect of perceived product characteristics on
private brand purchases and have stated that the effects of perceived product characteristics
(i.e. involvement, product type, and switching cost) and consumer value consciousness on
private brand purchase intent. A college student sample was surveyed to measure product
characteristic perceptions for six product categories and to evaluate private brand purchase
intent. Analysis of covariance was conducted for hypothesis testing. Support existed for the
significant effects of all three product characteristics on the intent to purchase private brands.
A moderating effect by value consciousness on the product type (search versus experience)
emerged. It is critical that retailers identify appropriate product categories as they develop
private brands. Private brand marketing strategies should be designed to reduce the level of
product involvement and switching cost, and to increase consumer perception of search
properties. The research is one of the few studies to test the effects of product characteristics
extensively and to provide related marketing implications
Yang, Xiaojing (2006) has investigated the impact of perceived advertising creativity in his
article “The impact of perceived advertising creativity on ad processing and response” and
have stated that For the cognitive route, perceived advertising creativity activates an open-
minded approach of information processing (heightened desire to postpone closure), which in
turn leads to fewer negative statements and more curiosity statements about the brand.
Accordingly consumers' brand attitude is more favorable and their intentions to view the ad
again and purchase are enhanced. For the affective route, the positive affect engendered upon
viewing 37
creative ads affects downstream ad processing and response variables by (1) indirectly
affecting consumers' desire to postpone closure (2) directly transferring to brand attitude and
intention to view the ad again.
Research objective
1. To analyze the factors influencing the purchase of liquor brands.
2. To study that if there is an significant relationship between monthly income and frequency of drinking and age group and kind of liquor
3. To analyse the attribute based position of liquor brand in the mind of consumers.
Research methodology
Research type –descriptive research
Secondary data Sources
The information has been gathered from authentic and reliable sources like Government agencies, Trade associations, Trade journals, Industry portals Newspapers, Company websites.
Primary data source
Primary data was collected by one to one interaction with the customers in Golf Club, SR Bar and Awadh Gymkhana Club At Lucknow.
Sampling Method
Convenience sampling.
Sample Size
The sample size of 100 respondents have been taken for the study
Data Analysis Method
The methods of Historical Trend Analysis, and industry Analysis, SPSS factor analysis, ANOVA, Discriminant analysis and Microsoft Excel analysis have been used.
Data analysis and interpretation
ANOVA
frequency of drinking
Sum of Squares df Mean Square F Sig.
Between Groups 153.295 4 38.324 40.877 .000
Within Groups 89.065 95 .938
Total 242.360 99
Interpretation and findings
Statement-to find out if there is any significant relationship between monthly income and
frequency of drinking.
Monthly income- monthly income coded as 1 for less than 10000, 2 for 10000-20000, 3 for
20000 -30000, 4 for 30000-40000 and 5 for more than 40000.
Frequency of drinking- frequency of drinking was coded as 1 for daily, 2 twice a week, 3
for once a week, 4 for twice a month and 5 for once a month.
Null hypothesis-there is no significant relationship between monthly income and frequency
of drinking.
Alternate hypothesis-there is a significant relationship between monthly income and
frequency of drinking.
Findings- the value of F arrived at through the F-test is 40.877 and its significance is
0.000whch s less than .05 ( because I have taken 95% confidence level)
Inference- As 0.000<.05, the null hypothesis cannot be accepted and I infer that there is an
significant relationship between monthly income and frequency of drinking.
ANOVA
kind of liquor
Sum of Squares Df Mean Square F Sig.
Between Groups 80.710 3 26.903 39.900 .000
Within Groups 64.730 96 .674
Total 145.440 99
Interpretation and findings
Statement-to find out if there is any significant relationship between age group and kind of
liquor
Age group. Age group coded as 1 for less than 25 years, 2 25-35years, 3 for 35-45 and 4 for
45 and above.
Kind of liquor- Kind of liquor coded as 1 for regular whisky, 2 for premium whisky, 3 for
scotch whisky, 4 for vodka and 5 for beer
Null hypothesis-there is no significant relationship between age group and kind of liquor
Alternate hypothesis-there is a significant relationship between age group and kind of
liquor.
Findings- the value of F arrived at through the F-test is 39.900 and its significance is
0.000whch s less than .05 ( because I have taken 95% confidence level)
Inference- As 0.000<.05, the null hypothesis cannot be accepted and i infer that there is an
significant relationship between age group and kind of liquor
Factor analysis
KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling
Adequacy..623
Bartlett's Test of
Sphericity
Approx. Chi-Square 247.288
df 91
Sig. .000
Kaiser-Meyer-Olkin Measure of Sampling Adequacy is .623 that is more than .5 that reveals
that sampling was adequate.
The Scree plot refers the stage 1 of the factor analysis that to decide how many factors to be
extracted from the data. As per thumb rule all factors with Eigen value of one or more should
be extracted. From the above Scree plot it is evident that 6 factor are having Eigen value 1 or
more than 1 that has been extracted.
Total Variance Explained
Comp
onent
Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings