STUDY OF CONSUMER BUYING BEHAVIOR, MARKETING STRATEGIES & OPPORTUNITIES IN GLUCOSE INDUSTRY FOR DABUR INDIA LIMITED

Abstract

The basic focus of this project is to understand the consumer buying behavior and market opportunities & strategy analysis for Dabur India Limited in glucose industry in Delhi NCR region. Buying Behavior is the decision processes and acts of people involved in buying and using products. The firms need to understand:’  Why consumers make the purchases that they make?  What factors influence consumer purchases?  The changing factors in our society. Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for:  Buyers’ reactions to a firms marketing strategy has a great impact on the firms’ success.  The marketing concept stresses that a firm should create a Marketing Mix that satisfies customers, therefore need to analyze the what, where, when and how consumers buy.  Marketers can better predict how consumers will respond to marketing strategies. Market opportunity of the merchandise is referred to as the process in which the market competitor’s activities are taken into consideration together with Dabur Glucose dealers and then further steps are taken in market to make sure that the brand gains a lot of market share and also more awareness is provided which helps the corporate to liquidate their stock in the market. While, strategy analysis refers to the method through which various strategies are being developed for existing dealers and wholesalers such that business goes in smooth manner and everyone gets profited by the method. Firstly, the method of activation of a specific brand is initiated with the assistance of brand activation agency and salesforce team with the help of marketing department specifically retail markets in different regions is accomplished. With the assistance of sales team and marketing department, standard operating procedure (SOP) is prepared which is to be followed by the brand activation agency throughout the brand activation campaign in wholesale market. The process of network management initiates during which the market understanding is being done by collection and understanding the market insights. With the network management method, the prevailing stockiest and wholesalers are being handled by making them awake to numerous advantages of being involved in dealing with Dabur India Limited. Also, the market potential is being broached upon, by identifying the necessity and details of the competitors and then banking upon those loose connections of the competitors. Also, undergoing a survey regarding brand image and consumer behavior of glucose within the market and the expectations from the corporate in the market to improve the sales within the market. Then the process of business development is initiated in which the method of developing the business and increasing market share is being taken care of. This process basically comes under the category of secondary activity of the business if Dabur India Limited, and numerous operational & lower level of the decisions are taken care in the process. In the process, basically new retailers are tapped upon & encourage them to buy the product providing different schemes which are lucrative to them & existing retailers are tapped to buy more products. This includes both up-selling and cross-selling. The schemes are redeemed on the spot by the means of scratch card to the purchasers. This triggers more stock liquidation within the market that improves sales & market share of the brand. Finally, once analyzing the functionality & strategy analysis of the corporate, numerous completely different recommendations & suggestions are developed, which may facilitate the corporate in formulating the strategy & key areas of improvement within the future.