A biscuit is a baked, commonly flour based food product. A small, typically round cake of bread leavened with baking powder, baking soda, or sometimes yeast. In some countries the word biscuit historically refers to a hard cookie or cracker. A biscuit is “any of various hard or crisp dry baked product” similar to the American English terms cracker or cookie, or “a small quick bread made from dough that has been rolled out and cut or dropped from a spoon. ” Today, according to the American English dictionary Merriam-Webster, a cookie is a “small flat or slightly raised cake”.
In the United States biscuits are generally small soft, yeast-based products served with breakfast or dinner. They perform a variety of functions including fill (hungry bellies), topping and sopping (eg. biscuits & gravy). Cathead biscuits and beaten biscuits are two popular American regional favorites. The Middle French word bescuit is derived from the Latin words bis (twice) and coquere, coctus (to cook, cooked), and, hence, means “twice-cooked”. This is because biscuits were originally cooked in a two fold process: first baked, and then dried out in a slow oven.
This term was then adapted into English in the 14th century during the Middle Ages, in the Middle English word bisquite, to represent a hard, twice-baked product. M. S. RAMAIAH COLLEGE OF ARTS, SCIENCE & COMMERCE 1 ~BISCUITS INDUSTRY IN INDIA~ Indian Biscuits Industry is the largest among all the food industries and has a turn over of around Rs. 3000 crores. India is known to be the second largest manufacturer of biscuits, the first being USA. It is classified under two sectors: organized and unorganized.
Bread and biscuits are the major part of the bakery industry and covers around 80 percent of the total bakery products in India. Biscuits stands at a higher value and production level than bread. This belongs to the unorganized sector of the bakery Industry and covers over 70% of the total production. Indian Biscuits Industry came into limelight and started gaining a sound status in the bakery industry in the later part of 20th century when the urbanized society called for ready made food products at a tenable cost. Biscuits were assumed as sick-man’s diet in earlier days.
Now, it has become one of the most loved fast food product for every age group. Biscuits are easy to carry, tasty to eat, cholesterol free and reasonable at cost. States that have the larger intake of biscuits are Maharashtra, West Bengal, Andhra Pradesh, Karnataka, and Uttar Pradesh. Maharashtra and West Bengal, the most industrially developed states, hold the maximum amount of consumption of biscuits. Even, the rural sector consumes around 55 percent of the biscuits in the bakery products. M. S. RAMAIAH COLLEGE OF ARTS, SCIENCE & COMMERCE 2
The total production of bakery products have risen from 5. 19 lakh tonnes in 1975 to 18. 95 lakh tonnes in 1990. Biscuits contributes to over 33 percent of the total production of bakery and above 79 percent of the biscuits are manufactured by the small scale sector of bakery industry comprising both factory and non-factory units. The production capacity of wafer biscuits is 60 MT and the cost is Rs. 56, 78,400 with a motive power of 25 K. W. Indian biscuit industry has occupied around 55-60 percent of the entire bakery production.
Few years back, large scale bakery manufacturers like Cadbury nestle, and Brooke bond tried to trade in the biscuit industry but couldn’t hit the market because of the local companies that produced only biscuits. The Federation of Biscuit Manufacturers of India (FBMI) has confirmed a bright future of India Biscuits Industry. According to FBMI, a steady growth of 15 percent per annum in the next 10 years will be achieved by the biscuit industry of India. Besides, the export of biscuits will also surpass the target and hit the global market successfully. M. S. RAMAIAH COLLEGE OF ARTS, SCIENCE & COMMERCE 3
INTRODUCTION TO MARKETING CONCEPTS MARKET: A Market consists of all the potential customers sharing a particular need or wants who might be willing and able to engage in exchange to satisfy that need or want. The size of the market depends on the number of persons who exhibit the need, have resources that interest others, and are willing to offer these resources in exchange for what they want. Originally, the term market stood for the place where buyers and sellers gathered to exchange their goods. Economists use the term market to refer to a collection of buyers and sellers who transact over a particular product.
Marketers see the sellers as constituting the industry and the buyers as constituting the market. MARKETING: Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others. From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships.
The process of communicating the value of a product or service through positioning to customers. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and Managing customer relationships in ways that benefit the organization and its shareholders. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value. IMPORTANCE OF MARKETING: “Marketing is the spring board of industrial production”.
The importance of marketing can be analyzed from two angles – Marketing is a very important aspect in business since it contributes greatly to the success of the organization. Production and distribution depend largely on marketing. Many people think that sales and marketing are basically the same. These two concepts are different in many aspects. Marketing covers advertising, promotions, public relations, and sales. It is the process of introducing and promoting the product or service into the market and encourages sales from the buying public. Sales refer to the act of buying or the actual transaction of customers purchasing the product or service.
Since the goal of marketing is to make the product or service widely known and recognized to the market, marketers must be creative in their marketing activities. This competitive nature of many businesses, getting the product noticed is not that easy. Strategically, the business must be centered on the customers more than the products. Although good and quality products are also essential, the buying public still has their personal preferences. If you target more of their needs, they will come back again and again and even bring along recruits.
If you push more on the product and disregard Their wants and the benefits they can get, you will lose your customers in no time. The sad thing is that getting them back is the hardest part. Marketing Promotes Product Awareness to the Public It has already been mentioned in the previous paragraph that getting the product or service recognized by the market is the primary goal of marketing. No business possibly ever thought of just letting the people find out about the business themselves, unless you have already established a reputation in the industry.
But if you are a start-out company, the only means to be made known is to advertise and promote. Your business may be spending on the advertising and promotional programs but the important thing is that product and company information is disseminated to the buying public. Various types of marketing approaches can be utilized by an organization. All forms of marketing promote product awareness to the market at large. Offline and online marketing make it possible for the people to be educated with the various products and services that they can take advantage of.
A company must invest in marketing so as not to miss the opportunity of being discovered. If expense is to be considered, there are cost-effective marketing techniques a company can embark on such as pay-per-click ads and blogging. Marketing Helps Boost Product Sales Apart from public awareness about a company’s products and services, marketing helps boost sales and revenue growth. Whatever your business is selling, it will generate sales once the public learns about your product through TV advertisements, radio commercials, newspaper ads, online ads, and other forms of marketing.
The more people hear and see more of your advertisements, the more they will be interested to buy. If your company aims to increase the sales percentage and double the production, the marketing department must be able to come up with effective and strategic marketing plans. Marketing Builds Company Reputation In order to conquer the general market, marketers aim to create a brand name recognition or product recall. This is a technique for the consumers to easily associate the brand name with the images, logo, or caption that they hear and see in the advertisements.
For example, McDonalds is known for its arch design which attracts people and identifies the image as McDonalds. For some companies, building a reputation to the public may take time but there are those who easily attract the people. With an established name in the industry, a business continues to grow and expand because more and more customers will purchase the products or take advantage of the services from a reputable company. Marketing plays a very essential role in the success of a company.
It educates people on the latest market trends, helps boost a company’s sales and profit, and develops company reputation. But marketers must be creative and wise enough to promote their products with the proper marketing tactics. Although marketing is important, if it is not conducted and researched well, the company might just be wasting on expenses and time on a failed marketing approach. STRATEGY Strategy is a high level plan to achieve one or more goals under conditions of uncertainty. Strategy becomes ever necessary when it is known or suspected there are insufficient resources to achieve these goals.
Strategy is also about attaining and maintaining a position of advantage over adversaries through the successive exploitation of known or emergent possibilities rather than committing to any specific fixed plan designed at the outset. STRATEGY IN BUSINESS Business strategy typically is a document that clearly articulates the direction a business will pursue and the steps it will take to achieve its goals. In a standard business plan, the business strategy results from goals established to support the stated mission of the business.
A typical business strategy is developed in three steps: analysis, integration and implementation. MARKETING CONCEPTS The new managerial awareness and desire reflected in the consumer orientation for all marketing operations to the market consideration and to dovetail all marketing operations to the consumer needs has given birth to a new operational notion called “MARKETING CONCEPT”. According to Kotler, “The marketing concept is a customer orientation backed by integrated marketing aimed at generating customer satisfaction as the key to satisfy organizational goals”.
MARKETING MIX It refers to the appointment of effort. The combinations of the designing and the integration’s of the elements of marketing into program, which on the basis of an appraisal of the market forces, will best achieve the objective of an enterprise at a given time. Marketing Mix is the set of contractible variables that the firm can use to influence the buyer response. Marketing mix is an effective, tool for ensuring effective and successful marketing.