Presentation on Marketing Management Case Study.pptx

Marketing Management Case Study

1. Marketing Management Case Study SUBMITTED BY: Anoop Kumar Mishra 23GSOB2010948 ADITI SRIVASTAVA 23GSOB2010829 ILMA SULTAN 23GSOB2010935 AZHAAN KHAN 23GSOB32010885 ANANT JAIN 23GSOB2010954 SHREYA JANSI 23GSOB2010832 MEEHI VIJAYVERGIYA 23GSOB2010824

2.   Firmenich   is a major player in the perfumery and flavor industry globally, working with a diverse client base. It supplies multinational consumer goods companies in various industries, including food, beverage, household care, textiles, and cosmetics.   Firmenich operates in 64 countries and employs over 6,000 people. The company has three divisions: Perfumery, Flavors, and Ingredients, each serving different industries. They have their own Social Accountability Standards, ensuring compliance with labor and ethical standards. In India, Firmenich   initiated a marketing research project targeting the BoP   (Bottom of the Pyramid) segment to understand their preferences.

3. The Firmenich Initiative: "Shared Senses and Sensibilities" Discover Firmenich's pioneering initiative that focuses on understanding the shared senses and sensibilities of low-income consumers in India. 1 Market Environment Analyze the unique market environment that influences the purchasing behaviors of low-income consumers. 2 Collaborations Collaborate with consumers in product development. 3 Effective Research Methods Employed effective research methods to understand their preferences.

4. The Market Environment India India's economy is growing, but millions of people still live in poverty. Understanding the market environment is key to meeting the needs of low-income consumers. Consumer Behavior Low-income consumers make purchasing decisions differently than their wealthier counterparts. To reach them, you must understand their behavior. Local Culture Cultural factors play a major role in determining what consumers want and how they make purchasing decisions. India has a rich and diverse culture that must be considered. Status of Hygiene in India Hygiene is a major concern in India, and there is a need for affordable and accessible hygiene products for low-income consumers.

5. The Soap Industry in India Market Size The soap industry in India is worth $2 billion and is growing at a steady pace. Market Segments The market is divided into urban and rural segments, with rural areas representing a significant opportunity for growth. Competition There are many players in the soap industry in India, including large multinationals and small local players. Price Sensitivity Low-income consumers are highly price-sensitive and need affordable options in order to purchase hygiene products.

6. IMPORTANCE OF BoP : Economic Growth and Market Development Explore the potential for new financial markets, job creation and sustainable economic growth. Social and Environmental Impact Analyze the potential for improvements in livelihoods, health and well-being, and environmental sustainability. Innovation and Creation of New Products Discover how bottom-of-the-pyramid communities can drive innovation and create new products and services.

7. CRITIQUES OF BoP EXPLOITATION CONCERNS Some BoP initiatives exploit the poor by profiting from there vulnerability which can lead to ethical issues ACCESS BARRIERS The barriers faced by the poors can be related to cost, infrastructure, education and social norms making it challenging to serve the BoP MARKET VULNERABILITY The low earning section is quiet vulnerable to market situations which can lead to genuine empowerment

8. Challenges of Marketing Research in the BoP Uncover the specific challenges faced when conducting marketing research in the Bottom of the Pyramid (BoP) segment. 1 Diverse Consumer Profile Navigate the diversity of low-income consumers in India, from cultural preferences to varying levels of literacy. 2 Data Collection Limitations Address the difficulties in collecting accurate and comprehensive data from hard-to-reach communities. 3 Resource Constraints Tackle the limitations of financial and logistical resources when conducting research in low-income areas.

9. Conclusion Sum up the key findings of Firmenich's marketing research initiative for low-income consumers in India and emphasize its significance in shaping successful strategies for emerging markets.