Because Becoming Successful Can Be Taught

FINAL PROJECT- SUBMITTED TOWARDS THE FULFILLMENT OF SEMESTER THREE OF POST GRADUATE DIPLOMA IN MANAGEMENT
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International Product Launch

VICCO TURMERIC

SEMESTER

PRESENTED BY: ASHISH GOYAL

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CERTIFICATE OF COMPLETION

This report entitled International product launch submitted for the fulfillment of semester three of Post Graduate Diploma in Management to NIS Academy , Jaipur is a piece of original and authentic work carried out by Ashish Goyal under the supervision of Faculty guide.

This work has not been submitted in part or full to any other institute/university or organization for any additional mileage.

(Ashish Goyal) Student

____________ Faculty Guide

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ACKNOWLEDGEMENT

A project is never the sole product of a person whose name has appeared on the cover. Even the best effort may not prove successful without proper guidance. For a good project one needs proper time, energy, efforts, patience, and knowledge. But without any guidance it remains unsuccessful. I have done this project with the best of my ability and hope that it will serve its purpose. To be or not to be is not anything which matters, how to be thankful is what really matters It was really a great learning experience and I am really thankful to NIS Academy considering my candidature for The Project and thus providing me an opportunity to work for such an upcoming field. I am also indebted to my Faculty In charge, who not only guided me but also motivated me and helped to bring the best out of me. I sincerely thank to all the Manager-in-Charge of various outlets, who spared his precious time and helped in expanding my knowledge. I also would extend my sincere gratitude to all of mine respondents without whose efforts the report would not have been successfully completed and the process of learning would not have been easier. Last but not the least; I am also thankful to all the respondents who have spent their valuable time and efforts in providing me some very valuable inputs.

(Ashish Goyal)

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TABLE OF CONTENTS

Topic page
1. 2. 3. 4. 5. 6. 7. 8. 9. Executive summary Company profile S.W.O.T analysis Research problem Introduction of Host country About 4 Ps Launching activities Conclusion Bibliography 6 12 14 15 16 26 32 34 35

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TURMERIC INDUSTRY

TURMERIC Industry, alternatively called as CPG (Consumer packaged goods) industry primarily deals with the production, distribution and marketing of consumer packaged goods. The Fast Moving Consumer Goods (TURMERIC) is those consumables which are normally consumed by the consumers at a regular interval.

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Industry Economy

TURMERIC Industry provides a wide range of consumables and accordingly the amount of money circulated against Turmeric products is also very high. The competition among Turmeric manufacturers is also growing and as a result of this, investment in Turmeric industry is increasing, specifically in India. Turmeric Sector in India is estimated to grow 10% by 2012. Turmeric Industry is regarded as the largest sector in India which accounts for 2% of Gross Domestic Product (GDP).

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Market Potentiality of Turmeric Industry Some of the merits of TURMERIC industry, which made this industry as a potential one, are low operational cost, strong distribution networks, presence of renowned TURMERIC companies. Population growth is another factor which is responsible behind the success of this industry.

Job Opportunities in Turmeric Industry Turmeric Industry creates a wide range of job opportunities. This industry is a stable, diverse, challenging and high profile industry providing a wide range of job categories.

About TURMERIC Turmeric is known as golden spice of India. The Turmeric plants were cultivated by Harappan civilization earlier in the 3000 B.C.

It is basically a tropical plant of ginger family is the rhizome or underground stem, with a rough, segmented skin.

It looks much like ginger and turns things into a lovely orange-yellow shade.

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Turmeric is of Zingiberaceae family, Zingiberaceae - A family of tropical monocotyledonous plants of order Musales

Turmeric is also known as Curcuma longa or Curcumin. The maximum production of Turmeric (90%) is in India. Sangli is the largest and most important trading centre for turmeric in Asia also in the world. (Sangli is the town of Indian State Maharashtra.)

There are approximately 30 varieties have been recognized in the type of Curcuma in which Turmeric belongs.

Alleppey Finger, Erode and Salem turmeric, Rajapore and Sangli turmeric, Nizamabad Bulb are some popular varieties of India.

Turmeric is a known Antioxidant, Anti-inflammatory and Anti-carcinogenic agent.

Curcumin is the active ingredient in Turmeric and have wide range of therapeutic effects. It has been used for thousands of years as a safe anti-inflammatory in many ailments as part of Indian traditional medicine - Ayurvedic medicine is a more than 3,000 year old comprehensive medicine system. Curcumin is also an antioxidant that helps to stabilize membranes damaged by inflammation.

It is taken in some Asian countries as a dietary supplement, which helps in stomach problems and other ailments.

Turmeric stimulates digestion, supports the liver, and reduces intestinal permeability.

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According to recent research results the component Curcumin causes degradation of the human protein p35 which is responsible for removing damaged cells that are likely to become Tumors. This effect would be in contrary to the research activities to use it as a treatment for Cancer increase the risk of developing tumors.

Several studies indicate that Curcumin slows the development and growth of a number of types of cancer including prostate cancer. Turmeric may also slow the rate at which hormone-responsive prostate cancer becomes resistant to hormonal therapy.

A project is funding to extract and isolate Tetrahydrocurcuminoids (THC) from Turmeric by the Government of Thailand. THC is colorless compounds that might have antioxidant and skin lightening properties and used to treat skin inflammations, making these compounds useful in cosmetics formulations.

Turmeric has wide range of use in canned beverages, ice-cream, yoghurts, yellow cakes, biscuits, sweets, cake icings, baked products, dairy products, popcorn-colour, cereals, sauces, gelatins, cosmetics, medicinal, Ayurvedic medicines etc.

It is commonly used in curries, bestknown in Indian and Thai cuisine, also used in many other countries. It is an

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essential ingredient in curry powder and also used in mustard blends and relishes.

It is used in holy ritual and also used to make kunkuma, a red cosmetic powder.

In India, at the time of wedding, turmeric paste is applied over the bride and grooms body mainly face and arms. The turmeric-based paste is used to beautifying and enrich skin complexion.

The Curcumin powder dissolved in alcohol is used for water containing products.

It is popular served as a tea in Okinawa, Japan. Turmeric is popularly used in cosmetic industry for preparing herbal products. It is also used as a fabric dye, a usually soluble substance for staining or coloring in fabrics as well as for preparing natural hair dye.

Turmeric is very low in Cholesterol and Sodium. It is also a good source of Vitamin C and Magnesium, and a very good source of Dietary Fiber, Vitamin B6, Iron, Potassium and Manganese.

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Company Profile
Founded in 1952 by late Shri K.V.Pendharkar, the VICCO Group has emerged today as makers of the best internationally known products of the Ayurveda, the ancient Indian system of natural medicines. Having production units at Dombivli, Nagpur and Goa in India, their annual turnover has scored to Rs. 1500 millions. Their best known products are Vicco Turmeric skin / sun screen cream, Vicco Vajradanti powder and paste and Vicco SF (Sugar free) paste. About 15% of company's total production goes to overseas market. VICCO products constitute 4% of India's paste market. Under the able guidance of Shri. G.K.Pendharkar, Chairman, the company has established strong foothold in almost every developed country in Asia, Europe, America, Africa and Australia. Combining ancient wisdom with modern technology, the company has expanded business activities into investment, trade, advertising and education sectors as well, 13 of its associate companies. Right from its inception in the 1952, the VICCO Group of companies has been charting an unwavering course that has
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catapulted the group into international limelight. Today, 50 years later, the group stands majestically as a grand conglomerate of 13 companies. For its founding father, the Pendharkar, it has been indeed a long journey. But for a concern, its only a humble hope.

Vision The vision is to reach out to every civilization. The promise is to make boons of the Ayurveda available to every home, far and near. VICCO is determined to achieve this goal.

Company Mission Develop good products and globalize these products into the world according to the demand of natural care and treatment. Company focused on turmeric skin cream. But select those countries which must have require of turmeric products.

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S.W.O.T Analysis

Strength monopoly Ayurvedic and herbal no side effect reap in low price and entire process is economic Agriculture based so government support it.

Weakness lack of awareness among the people

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Opportunity increasing in health consciousness growth of herbal products Being economic every needed person easily buy it

Threat Allopathic medicines Homeopathic medicines

RESEARCH DESIGN AND METHODOLOGY:

Research Design:1. Research design in this study is descriptive.

2. Data type which are collected for the project that was collected from

Secondary data from various areas.

Secondary data information sources:

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Internet International Publications Country Research Reports Trade / Production Statistics Trade / Diplomatic Offices Local chamber of Commerce

Benefit of Secondary data information sources Secondary data may be readily available and may also be cheaper than primary research. International marketers, however, need to very carefully evaluate the relevance, objectiveness and timeliness of the secondary data.

Issues in International research problem formulation

A major problem is the unfamiliarity with the foreign environment - lack of familiarity may lead to false assumptions, poorly-defined research problems, and, ultimately misleading conclusions about the foreign market
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 To reduce part of the uncertainty, some exploratory research at the early stage of the research process is often fruitful A useful vehicle for such preliminary research is an omnibus survey conducted by research agencies at regular intervals.

Competitors in India

Himani gold turmeric moisturizing lotion 24k gold. Shahnaz husan shadew turmeric treatement formula Naturoriche skin life cream Jiva turmeric cream.

Competitors in Ethiopia
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There is no competitor in Ethiopia.

Host Country Intro

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Host Country Name: - Ethiopia in Africa

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Big cities of country Mekele Dese Bahir Dar Gonder Jima Awasa Gode Ais Abeba(C)

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GEOGRAPHY : Ethiopia is one of the largest countries in Africa (1 097 900 KM). Situated in what is commonly known as the Horn of Africa, Ethiopia lies at the crossroads between Sub- Saharan Africa and the Middle East. Forty percent of the population is of a Semitic stock with racial, linguistic, cultural and historical ties with the Middle East. Capital : Addis Ababa (pop. 5 million). Other cities : Dire Dawa (237,000) Nazret (189,000) Gondar (163,000) Dessie (142,000) Mekelle (141,000) Bahir Dar (140,000) Jimma (132,000) Awassa (104,000). Terrain: High plateaus, mountains, dry lowland plains. Climate: Temperate in the highlands; hot in the lowlands.

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Market: The size of a country's population matters a lot to most investors. Ethiopia is potentially one of the largest domestic markets in Africa with more than 80 million consumers, with an annual growth rate of 2.73%; about 64,438,000 or 84% of the population lives in rural areas. This can, therefore, be one of the additional reasons to consider Ethiopia as an ideal destination for investment. Apart from the total size of the market, it is a fast growing market with yearly increase in purchasing power of consumers, albeit at a low level currently.

PEOPLE :

Population:

88,013,491 country comparison to the world: 14 Age structure:

0-14 years: 46.2% 15-64 years: 51.1% 65 years and over: 2.7%

Population growth rate: 3.202% country comparison to the world: 7

Religions: Christian and Muslim

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Languages: Amarigna 32.7%, Oromigna 31.6%, Tigrigna 6.1%, Somaligna 6%, Guaragigna 3.5%, Sidamigna 3.5%, Hadiyigna 1.7%, other 14.8%, English (major foreign language taught in schools) (1994 census)

Occupation :

The Ethiopian economy remains heavily dependent on agriculture, which accounts for about 50 percent of the GDP. An estimated 85% of the population gains its livelihood directly or indirectly from agricultural production. Coffee exports accounts for more than 65 percent of foreign exchange earnings, while processed and semiprocessed hides and skins are the second important foreign exchange earners.

ECONOMY :

GDP (FY 2008-2009) : $32.3 billion. Annual growth rate (2009-2010, government estimate) : 9.9%. GDP per capita (2009): $404. Average inflation rate (FY 2008-2009) : 36%. Natural resources : Potash, salt, gold, copper, platinum, natural gas (unexploited).

Agriculture (45% of GDP) : Products--coffee, cereals, pulses, oilseeds, khat, meat, hides and skins. Cultivated land--17%.

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Industry (13% of GDP) : Types--textiles, processed foods, construction, cement, and hydroelectric power.

Services : (42% of GDP). Trade (2008) : Exports--$1.5 billion. Imports--$6.8 billion; plus remittances--official est. $970 million; unofficial est. $815 million.

GOVERNMENT :

Type: Federal republic. Constitution: Ratified 1994. Ethiopia has a federal parliamentary democracy within a constitutional monarchy. In general, Ethiopian politics have not operated through revolutionary, swift changes. Instead, change is typically slow and worked out through compromise between interest groups, regional consultations, and the government of the day.

Thus , political environment is also favorable and there will not be any major issues as far as the government is concerned.

Why we launch the product in Ethiopian country?

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 There is main reason for launching the turmeric product because the Ethiopian

country is the hottest country in world so there is many cases of skin disease and turmeric product is the miracle product for skin.
It is also resolve the skin problems like skin burn, pimples, tanning etc. these

type of problems

occurs in hottest environment.

Largest domestic markets in Africa with more than 80 million consumers

Enteric strategy

Strategy for exporting :-

In Ethiopian country turmeric products has no competitors so export strategy is

a good option. Export strategy might be the cost of the product will increase but there is no competitors so the product must have going well no issue on price.

MARKETING MIX
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PRODUCT Variety Quality Design Features Brand Name

PRICE List Price Discounts Allowances Payment period

PLACE Channels Coverage Assortments Locations Inventory

PROMOTION Advertising Personal selling Sales promotion

4ps in home country :

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Products

Vicco products Product is main thing of a company so product price & uniqueness is a big matter in marketing. Turmeric product is less than into the market and the competitors of product also play vital role in marketing. Turmeric Skin Cream Vajradanti Paste Vajradanti Powder Vajradanti SF (Sugar Free) Turmeric Multipurpose Cream Turmeric Face Wash Turmeric Skin cream (Oil Base) Turmeric WSO Cream Narayani Cream

Place

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Place is the factor we are to choose how the product will reach from manufactures inventory to the end users. to reach at the right time and right place to decide the means of distribution channel.

Almost all over India sale of the Vicco products, Mostly the product sale into north or south India like Nagpur, Goa, Gujrat etc. because there are plants of vicco products.

Price Price of the products is less than the competitors product. It is starts near about RS.25 respectively. Vicco products price depended on the weight of the product. Turmeric Skin Cream depended on weight Vajradanti Paste depended on weight Vajradanti Powder depended on weight Vajradanti SF (Sugar Free) depended on weight Turmeric Multipurpose Cream depended on weight Turmeric Face Wash depended on weight Turmeric Skin cream (Oil Base) depended on weight Turmeric WSO Cream depended on weight Narayani Cream depended on weight Promotion

T.V on the popular channel & prime time advertisement through tv Radio- by the FM station like big 93.5 .
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News paper-by the front page advertisement . Through discountent coupen.

4ps in Host Country

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Product Mix

Turmeric Skin Cream for normal skin. Turmeric powder for multi purpose. Vicco Turmeric cleansing gel. Turmeric Face Wash

Price Mix:-

Turmeric Skin Cream.15 Birr Vicco Turmeric Cream without Sandalwood Oil13 Birr Turmeric powder for multi purpose .15 Birr Turmeric Face Wash..15 Birr

Place Mix: Entry Strategy:

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We intend to enter Ethiopia by directly exporting our products. The company has two distributors in Ethiopia; one in Addis Ababa and one in Gonder. As shown in the demographics, these are the most populated metros of Ethiopia. They also happen to be the cities where most of the Ethiopians live. These distributors stock the products in their warehouses and regularly supply to retailers over there. They have major tie-ups with many super markets and these markets sell their products. Distribution

We will follow 4 level channel of distribution involving our importer, distributors and retailers. Through our distributors vicco will reach out to all the major cities of Ethiopia some of which are -Dire Dawa , Nazret , Dessie , Mekelle , Bahir Dar, Jimma , Awassa.

Promotion Mix We can promote our product through advertising, corporate advertising and social advertising. It is increase customers awareness and help to find product and features according to the demand. It is also helpful for sales and marketing.

Electronic Media: Television in Ethiopia

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The Ethiopian television network operates both Amharic-language and English language national television networks with regular programming and with all-news programming. There are some private Addis TV, TV Oromiyaa (with two live studios), and Dire TV also exists. There are also 105 independent television stations in Ethiopia. Over 98% of Ethiopians households own Television sets. 2 out of 3 households subscribe to Cable TV though local television is free.

Radio

Ethiopians spend more time with radio and radio fana is state owns radio station radio enjoys a larger share of ad spending in Ethiopia

Print Media:

The newspaper with the highest circulation is the Addis Ababa and Addis neger, and the newspaper with the highest readership per capita is the Addis admass. And the business newspaper is new business Ethiopia Readership of local newspapers is strong despite the size of the market 70.4% people of the Ethiopia read the most recent issue of their local (Ethiopian zare and reporter) newspaper. These readers are loyal; with most reading all 4 of the last 4 issues they read with attention reading most or all of each issue capital get high ratings from their readers. Newspapers capture a very high proportion of exclusive readers.

LAUNCHING ACTIVITY

An Outline of the Launch Activity Schedule

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The final part of a launch guide should provide a schedule of key launch activities, such as: Arrange High-Profile Launch Events There exists a myriad of formats for a product launch event. Products can be launched to all sales staff and retailers at a single national event. Or, if there are time and budget constraints, a series of regional and local events for local retailers may suffice. Alternatively, we can introduce the new product to individual outlets through a series of sales calls or teleconferences, or by sending mailings to individual outlets.

Maintain Momentum The period after the launch event is a critical time for the success of the program. In the emotion of a major launch, it is easy to forget that the real sales effort has only just begun. Post-launch sales activities might include promotional support for retailers and ongoing incentives. Consider direct marketing programs to help retailers market the new products, or local events to reinforce a national launch event.

Let Customers Know About the Product: A number of communication options can be leveraged for the customer launches, including advertising, direct marketing, trial offers, and exhibitions. Consider various marketing programs to raise initial awareness and get customers to try the new product.
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Communicate at the Point of Sale: Consumer information at the point of sale is essential for new products sold through retail outlets. It can be used to reinforce other media and to reach prospects and customers who may have been missed in previous programs. Point-of-sale material provides additional information to customers and prospects, and supports sales development through retail outlets.

Conclusion

As per our research we have seen that Turmeric is an ayurvedic product of natural sciences which comes mainly from India and it is very uncommon in

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International market so to launch it as a product in international market will be very beneficial. And we have decided Ethiopia as a country to launch it because it is the hottest country in world so there is many cases of skin disease and turmeric product is the miracle product for skin. And as per export strategy in Ethiopian country turmeric products has no competitors so it might will increase the cost of the product and more over there is no competitors The primary marketing objective is to achieve the market share. We create unique image of vicco in consumer mind. Our goal is to compete in the market and create unique image of our brand . So due to these so we hope that our product will quickly gain the market share.

Bibliography

www.google.com www.viccolab.com
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www.herbalcureindia.com Books MARKETING MANAGEMENT 12E BY PHILIP KOTLER. RESEARCH METHODOLOGY BY C.R.KOTHARI.

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