Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project TIC Thakur InterContinental

A Haven of Fun & Frolic
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Marketing Project

TIC Thakur InterContinental

2012

Where is TIC?
TIC which started as a mere as a Roadside tea shop has now evolved into a well known Food Joint Thakur Intercontinental Thakur is an opportunist who knows what to add to his business and when to add it. He has a very friendly nature which allows him to get along with all students. Students who are away from home feel very comfortable in this environment. He acts like a family member and a friend and is always present in time of need. His knowledge on various aspects of the society was commendable often getting into healthy arguments with the students. He has been able to run his business with stability and has always tried new ideas to keep his business growing. It is now the correct time that Thakur takes his business to a next level with innovative ideas and business management techniques.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

Opportunity seeker

Tea Stall & nicotine products

Small Time eatery because the food of the mess was not good in term of quality.

General Utility: As the Badi market was 4km away from the university hence he install as PCO for the Student continent

Add-on Services:Home delivery Late night canteen services during the exam timing.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

SWOT Analysis.
Strength:No Competition in the vicinity No compromise on the quality of the foods. A very good customer oriented approach. Connect with the Customer. Multiple Value added services for e.g.:- Home delivery and Late Night Food services. Multi Faceted personality. E.g. Good PR skills, people friendly. An Opportunist. Tapped every Business opportunity. Master every art. Monopoly of his business.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

Weakness:Credit Facility:- Unlimited credit facility could be harmful to his business which could turn out to be a bad debt. Limited focus :- which in turn resulting into limited customer based.. Lack of funding Very limited Management Skills. Small Place Vacation Planning:- He need to come up with backup plan to earn money during the vacation period.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

Opportunity:Tiffin services Distribution of food product in the badi market. Restaurant Catering services. General stores/Xerox & stationery. Expansion of the Business/ Creating Brand TIC.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

Threats:Confiscation of land. One set of target group. Dependency on the University. If the food services as the mess is improved them it would impact the business of TIC. Changes in Government rules and regulations. Competition in the vicinity.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

Where you want to take TIC ?

Catering services (Mid term goal) Distribution of TIC products (short term goal)

Tiffin services (short term goal)

Branding TIC

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

Where you want to take it?

We are looking at very realistic targets which would include the below:

Short Term Goals

This includes mostly sticking to basics and being realistic. Tiffin Services, Distribution Services is to be able to survive, increase customer base, making him a known name and increase his contacts.

Mid Term Goals:

Starting Catering services will enable Thakur to have an increased penetration in the market and make him a house hold name. Also the profit margins in this business is very high

Long Term Goals

This is to create a brand TIC in the market. This will be similar to Haldirams with products being sold all over India in various Outlets. To survive in the changing market environment and to consistently run the business in profit. To combat any competition at hand. To have the maximum market share. To be the preferred place to hang out in. To convert his tea stall into Tiffin services, Food distribution and a general store with all college stationary.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

How will you take it?

He should play on his strengths i.e - the loyalty factor, and his quality. TIC is his comfort zone and he needs to venture out of his comfort zone to achieve greater success. We can start with new businesses which would low cost and higher profit margins.

Tiffin Services :
Food has always been one the USPs of TIC. His food is home made and provides good variety at reasonable prices. He can start providing Tiffin services in the Badi Bazaar area so he can cater to a wider customer base.

Distribution of Samosas and Jalebis : TIC is known for his mouth watering Samosas and Jalebis.
He can start providing them commercially to local Sweet Shops, Restaurants and Movie Theatres under brand Name TIC. Challenges: Biggest challenges Thakur faces with this venture is Staffing and Finance. Staffing: He should hire 2 trustworthy and hardworking people who he knows. Ideally from his village. Finance: He should look into his money reserves and apply for a loan from a scheduled bank. Advertising: Small investments like flyers providing details of services can be distributed in the market area. Advertising on Panchayat Boards and Cycle Advertising.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

Brand TIC:
Once above short term goals are achieved it will ultimately leads to establish brand TIC. Standardization of the product and the packaging to ensure the uniformity in quality and taste. Distributing his products outside pantnagar and promoting the brand. Giving TIC franchisee to local outlets outside pantnagar . Establishing distribution channel to penetrate the market.

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

Marketing Concepts
Product related
Expanding the menu by introducing new varieties such as burger, pizza, meals, Punjabi dishes, Chinese. This should attract the locals too

Price related
As per the extract, he was selling products at cheaper price. Since now (1981) his business is established and customers are satisfied, he can increase the price a bit as to increase d revenue Introducing combo offers. eg. pepsi with pav bhaji, lassi wth sabji roti. This will lead to increase in the net contribution of this products

Place related
Room delivery to the students and professors Home delivery to the localities near Badi market and campus

Promotion
Placing banners in and around the campus and badi bazar promoting new varieties and offers provided by TIC Publishing menu of the day or menu of the week or specialties in the local newspapers or placing small board in campus highlighting these things

Welingkar Institute of Management Development & Research PGPMS -22

Marketing Project

TIC Thakur InterContinental

2012

A Presentation by: Swati Soni- 27 Sandeep Mendel-14 Bhavik Kotak-18 Ankit Shah-22 Navin Jha-23 Rajesh Mogavira 19

Welingkar Institute of Management Development & Research PGPMS -22