Market Survey Report on Understanding Buyers Behaviour towards Product

Ready To Eat Food

By :
Amit Kumar Rajbhar 05
Avalanche Saini 15
Laxmi Parashram Bele 25
Pritam Kumar Rana 35
Shivi Shekhar Singh 45

India is the worlds second largest producer of food next to China. It is fifth largest industry in
India in terms of production, consumption, export and expected growth. Accounting for about 32 % of

countrys food market, the food processing industry is one of the largest industries in India.
According to survey of economic times, the processed food sector may contributes 6.5 %
of GDP in India for the fiscal year 2015. The Confederation of Indian Industry (CII) has
estimated that the food processing sector has the potential of attracting US$ 33 billion of
investment in 10 years and generate employment of 9 million person-days.
Food processing sector covers activities such as agriculture, horticulture, plantation,
animal husbandry and fisheries. According to Government of India, the following segments are
included in the food processing sector:

Dairy, fruits & vegetable processing

Grain processing
Meat & poultry processing
Fisheries
Consumer food including packaged foods, beverages and packaged drinking
water.

We were assigned to carry out a survey on the peoples behavior towards Ready to Eat
food. Our report is based on the inputs received from three different consumers whom we
interviewed regarding their choices and inclinations.
Candidates profile:
Consumer name
Age
Candidate 1
37
Candidate 2
21
Candidate 3
19
Our interview was mainly concentrated on the following aspects:

Gender
Male
Female
Male

 TRIGGERS OF PURCHASE :
Time Saving : One of the main criteria for people to choose ready to eat
food was that it saved them a lot of time.
Cost Effective: The combined value of the ready to eat food, in terms of
money and efforts put in, is much less than the other options.
Longer Shelf Life: People prefer the processed food because they can
store it and use whenever needed as it has longer shelf life.
Variety: Ready to Eat food provided people with an option of larger
variety in terms of flavor, taste, nutrition value and seasonal goods.
Curiosity and Temptation: A big factor why people choose processed
food is due to curiosity and temptation. This is the result of feedbacks and
promotions.

STAGES IN PURCHASE PROCESS:

Necessity of the product.
Identifying the available options.
Analyzing the available options and selecting the preferred one.
INPUTS CONSIDERED AND THEIR ROLES IN EACH STAGE:
Necessity of the product: The main factor affecting this decision is the
urgency with which the product is required. People consider ready to eat
food mostly when they are running short of time or when travelling. It is
also largely affected by the hunger and stocking it for future use.
Identifying the available options: We identify all the options available
for us and start analysis.
Analyzing the available options and selecting the preferred one: We
analyze all the options available to us based on the following inputs
o Accessibility
o Cost
o Efforts required
o Taste
o Nutrition value
TIME INVESTED IN EACH STAGE: On discussing with the consumers with selected
for our survey, inferred that they tend to take least time for deciding the need for the
product while the maximum time was invested in analyzing the available options. On an
average they tend to take approx 25% time in deciding the need, 30% time in identifying
all the available options and remaining 45% of their time in analyzing the options and
choosing the most preferred one.

Most of the consumers have more or less the same factors affecting their need for ready to eat
food. But that is not the case with the choice of option. While few people give preference to cost
over other aspects, a few others give more preference to time and availability and even some
others give preference to taste and nutrition value. These preferences can also be attributed to
age, income and health consciousness. While kids and youngsters give preference to taste,
middle aged and elderly people give more preference to nutrition value and hygiene. In the same
manner preferences can also be described on the basis of income group.
Hence we can conclude that the marketing strategy for the ready to eat food must be based on
target consumer. If the product is targeted at young people, more weightage must be given to
improving the taste. Similarly if it is targeted at elders, nutrition must value must be given the
priority along with other options discussed throughout the project.

References

Food processing sector of India report by Corporate Catalyst India Pvt

Ltd.
Economic Times Survey for processed food industry in India.
Consumers interviewed for survey.
Internet