Professional Documents
Culture Documents
Chesse Report
Chesse Report
In
Banglore
Sysnopsis
By
Manjunatha S N
II Semester MMS
BSBS Foundation,
BENGALURU – 570001
1
Demand For Cheese In Speciality Restaurant
In
Banglore
Sysnopsis
By
Manjunatha S N
II Semester MMS
Guide
Jyothi Vijay
BSBS Foundation,
BENGALURU – 570001
2
LIST OF CONTENTS
3
CHSPTER :1
INTRODUCTION
4
Milk
Milk is a white liquid made by mammals, like cows, dogs, and humans. It is
made in the mammary glands (breasts, udders, or teats) of female mammals.
Because new born babies have no teeth, they must be given milk before they
can eat solid food. Milk has many nutrients to help babies grow and be healthy.
It is also a rich source of calcium which is good for your bones and teeth.
Types of milk
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2. Fat Free Milk (Skimmed Milk)
If you are looking for the same nutrients as whole milk, but want to cut calories
and fat, fat free (also known as skimmed) milk is a good choice. In fact, because
it has less fat, there are just 80 calories in fat free milk in each 8-ounce glass.
There is a misperception that skim milk contains water to reduce the fat content
— but that is not the case. The nine essential nutrients, including 8 grams of
high-quality protein, remain intact.
3. Organic Milk
All cows, whether they live on an organic or conventional dairy farm, receive
the best care by dairy farmers. Animal care is one of the most important aspects
of dairy farmers’ jobs, because it leads to high-quality, wholesome milk.
All varieties of milk – regular or organic, flavoured or white – are safe and
wholesome. Strict standards and government regulations established over the
past century in the United States ensure that all milk you buy at the store is safe
for you and your family to drink.
4. Lactose-Free Milk
Lactose-free milk is real cow’s milk — just like the other types of milk — but
with one difference. The natural sugar in milk, called lactose, has been broken
down. This makes it great option for people who are lactose intolerant. It still
contains the same essential nutrients, including calcium, protein and vitamin D,
as the other types of milk.
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5. Flavoured Milk
Chocolate milk, or other flavoured milk, is also a tasty protein food for kids.
Flavoured milk counts as a serving of dairy and provides the same 9 essential
nutrients in each serving.
6. Raw Milk
Raw milk — milk straight from the cow — is not pasteurized. It’s not widely
available for purchase due to federal laws prohibiting its distribution across
state lines, as well as to safety concerns outlined by government agencies
including the USDA, the Federal Drug Administration and the Centres for
Disease Control.
There is greater competition as opposed to what was the case perhaps seven
years back. India’s dairy per capita consumption has been growing very
healthily. It has been outpacing growth in some of the developed markets like
the European Union. But now with so much competition coming in the segment,
is there still scope for penetration and higher consumption in India than the
numbers that you are already clocking?
India is contributing about 20% of world milk production at around 167 million
metric tonne and we are growing at the rate of 4.5%. World is growing at the
rate of around 1.8%. Out of 1.8% growth, 1% is coming from India. Milk is
India’s largest crop worth around Rs 6.5 lakh crore it is much more than paddy
and wheat put together. Till the ‘70s, per capita consumption was only 110
gram per person per day. Today, it is 360 gram per person per day and that is
really growing.
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In another 50 years, our per capita consumption will be equal to that of the US
or Europe for about 800 grams per person per day, which is already there in
some parts. You go to north of Punjab, there might be consumption of around
800 grams per person per day. Now, as far as the growth is concerned, 40% is
retained at the producer level in the villages, 60% is surplus. Of that surplus,
about one-third is coming to the organised sector -- cooperatives and private
companies put together and two- third is going to be the unorganised sector.
I am trying to understand the point that you have raised about the shift from
unorganised to organised plays. Amul has been the oldest organised player in
the industry. I am trying to understand the point that you have raised about the
shift from unorganised to organised plays. Amul has been the oldest organised
player in the industry. How do you think there will be that reduction in
organised players going forward and how will Amul strive to gain a higher
market share at a time when competition from some of the other new players is
only intensifying?
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In the dairy industry, business depends on how much milk you collect from the
farmers. Amul is collecting on average more than 20 million litres of milk per
day. Next to Amul, there is another cooperative called Nandini which is
collecting around 7 million litres. There is no private sector company which is
collecting more than 1.5 million litres or 2 million litres. In the private sector,
the nearest competitor is in the south. East on an average, produces one-tenth of
us so.
In the cooperative sector, in each state the local cooperative is the market leader.
In Karnataka, Nandini is number one, in Rajasthan, Saras is number one; in
Punjab, Verka is number one. Amul may be number one pan India. As such, in
India, the organised market is the hands of cooperatives only and their market
share is growing.
Which are the non-liquid milk categories where you think that the projected
growth could be 20% plus for next two to three years. Will it be cheese? Will it
be butter or will it be something else?
Because of the lower base of the small categories like beverages or ice-creams,
their natural growth rate will be much higher than the liquid milk because the
base is much higher. In India, milk is the dairy product that is consumed most.
Then comes dahi, ghee, and then the other categories.
If you have to be market leader in India like Amul or any other cooperatives,
until and unless you are market leader in that particular category, you would not
get major market share in other products. It will not be commercially viable to
get into cheese or ice-cream or other things without getting into milk or other
fresh products. There is a myth that people think only value-added products
give more margin and value addition means only cheese and ice-cream. That is
the biggest myth.
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In the dairy sector, biggest value-added product is the fresh pasteurised milk
which is sold to the consumer directly. So, you buy milk, you process it, you
pack it and sell it. Milk is the biggest value-added product and like that, another
value-added product is curd or buttermilk, milk powders and dairy whiteners
and baby food. They are much, much bigger categories than the so-called
cheese or ice-cream categories.
Where exactly are milk prices headed in 2018 because milk prices in 2017 were
quite firm and if milk prices are headed higher, are you in a position to increase
your product prices?
The milk prices world over peaked in 2014 May, after that prices started falling
especially of commodity world over and the impact was also felt in India where
cooperatives were not strong and in 2017 also prices were much lower than the
prices in 2014 or 2015.
No doubt, it was slightly higher than in 2016 and whatever was the price today
in areas where cooperatives are not stronger, there farmers are under distress.
They are not even getting the cost of production. Take the case of Maharashtra.
For cow milk, Maharashtra farmers were getting Rs 17-18 in 2016. Then in
2017, it increased to Rs 22-23 and today also famers in Maharashtra are getting
only Rs 21 to 22 per litre of cow milk vis-à-vis the Gujarat where every year
there is increase in price. Today farmers in Gujarat are getting around Rs 30 to
32 for cow milk because we have not reduced the price of any finished product,
whether it is butter, cheese or ghee. We have rather increased it. So, naturally
farmers are getting better price.
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Organic milk
Organic milk differs from conventional milk in three specific ways: it must
come from cows that aren’t treated with antibiotics, it must come from cows
that are not given any hormones for growth or reproduction, and it must come
from cows that receive at least 30% of their diet from pasture. That 30% comes
out to 120 days out of the year.
Those differences may seem negligible, but they can make all the difference in
the world. Practices for raising cows to produce organic milk range wildly. For
some dairies, they meet the minimum requirements and call it good. For others,
cows are given much more pasture time than required and receive plenty of
nutrient-rich grass that improves the quality of their milk. Much like that old
joke that asks what you call the medical school graduate who received a C-
average (a doctor!), any dairy can use the organic label so long as they meet the
basic requirements. This is why it’s a good idea to do deeper research into the
origin of your milk so you know what you’re getting, where it comes from, and
how the cows are raised.
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While the synthetic bovine growth hormone, also known as rBST, is becoming
less and less common even on conventional dairy farms, you always know
you’re getting rBST-free milk when you choose organic. Furthermore,
conventional cattle are commonly subjected to reproductive hormones for
breeding purposes, a practice which is not used in organic cattle. This means
that raising organic cattle is a more expensive undertaking, but it also means
that the cows are bred when they’re healthy and according to their own natural
cycle, rather than being injected with hormones that will simulate the natural
process at atypical times. It requires a very different approach to the care and
breeding of cattle, one in which many organic farmers are already well-versed.
1. Chemical composition
2. Nutrient content
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acids in milk; all (but for one) were of raw milk, and suggest that raw organic
milk may contain significantly more beneficial omega-3 fatty
acids and vaccenic acid than raw conventional milk. The authors found no
significant differences between organic raw milk and conventional milk with
respect to total protein, total fat, or 7 other vitamins and fatty acids tested.[note
1][4]
A different review concluded, "Results to date suggest that the nutritional
content of organic milk is similar to that of conventional milk. There may be a
different profile of fatty acids in organic milk, with a higher proportion of
PUFA (polyunsaturated fatty acids) relative to other fatty acids, but this effect
does not appear to be consistent. This difference will be smaller in fat-reduced
milk."[5]
With respect to scientific knowledge of health and safety benefits from a diet of
organic food, several factors limit our ability to say that there is any health
benefit, or detriment, from such a diet. The 2012 meta-analysis noted that "there
have been no long-term studies of health outcomes of populations consuming
predominantly organic versus conventionally produced food controlling for
socioeconomic factors; such studies would be expensive to conduct." A 2009
meta-analysis has noted that there have been very few studies that have looked
at direct human health outcomes. In addition, as discussed above, difficulties in
accurately and meaningfully measuring chemical differences between organic
and conventional milk make it difficult to extrapolate health recommendations
based solely on chemical analysis.
The authors of the 2012 meta-analysis ultimately concluded that the review
"identified limited evidence for the superiority of organic foods. The evidence
does not suggest marked health benefits from consuming organic versus
conventional foods.
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A review of the literature published by the American Academy of
Paediatrics published in 2012 concluded: "There is no evidence of clinically
relevant differences in organic and conventional milk. There are few, if any,
nutritional differences between organic and conventional milk. There is no
evidence that any differences that may exist are clinically relevant. There is no
evidence that conventional milk contains significantly increased amounts of
bovine growth hormone. Any bovine GH that might remain in conventional
milk is not biologically active in humans because of structural differences and
susceptibility to digestion in the stomach."
4. Taste
One review noted that some consumers like the taste of organic milk, while
others do not, and suggested that the amount of heat treatment is likely to be a
significant factor in determining the taste of the milk. Certain treatments, such
as ultra-heat treatments used by milk producers, can impart a slight nutty taste
to the milk. Overall, the results of taste testing "are not clear-cut" as to whether
organic or conventional milk is preferred.
Amul
Paras
Mother Dairy
Saras
Verka Sweet
Nandini
Milky mist
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CHEESE
Earliest proposed dates for the origin of cheesemaking range from around
8000 BCE, when sheep were first domesticated. Since animal skins and inflated
internal organs have, since ancient times, provided storage vessels for a range of
foodstuffs, it is probable that the process of cheese making was discovered
accidentally by storing milk in a container made from the stomach of an animal,
resulting in the milk being turned to curd and whey by the rennet from the
stomach There is a legend—with variations—about the discovery of cheese by
an Arab trader who used this method of storing milk.
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cheese in an animal stomach gave more solid and better-textured curds may
have led to the deliberate addition of rennet. Early archeological evidence
of Egyptian cheese has been found in Egyptian tomb murals, dating to about
2000 BCE.
The earliest cheeses were likely quite sour and salty, similar in texture to
rustic cottage cheese or feta, a crumbly, flavourful Greek cheese. Cheese
produced in Europe, where climates are cooler than the Middle East, required
less salt for preservation. With less salt and acidity, the cheese became a
suitable environment for useful microbes and moulds, giving aged cheeses their
respective flavours . The earliest ever discovered preserved cheese was found in
the Taklamakan Desert in Xinjiang, China, and it dates back as early as 1615
BCE.
A 2018 paper published in Analytical Chemistry stated that the world's oldest
cheese, dating to approximately 3200 years before present, was found in ancient
Egyptian tombs.
We soon reached his cave, but he was out shepherding, so we went inside and
took stock of all that we could see. His cheese-racks were loaded with cheeses,
and he had more lambs and kids than his pens could hold...
When he had so done he sat down and milked his ewes and goats, all in due
course, and then let each of them have her own young. He curdled half the milk
and set it aside in wicker strainers.
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By Roman times, cheese was an everyday food and cheesemaking a mature
art. Columella's De Re Rustic (c. 65 CE) details a cheesemaking process
involving rennet coagulation, pressing of the curd, salting, and
aging. Pliny's Natural History (77 CE) devotes a chapter (XI, 97) to describing
the diversity of cheeses enjoyed by Romans of the early Empire. He stated that
the best cheeses came from the villages near Nimes, but did not keep long and
had to be eaten fresh. Cheeses of the Alps and Apennines were as remarkable
for their variety then as now. A Ligurian cheese was noted for being made
mostly from sheep's milk, and some cheeses produced nearby were stated to
weigh as much as a thousand pounds each. Goats' milk cheese was a recent taste
in Rome, improved over the "medicinal taste" of Gaul's similar cheeses
by smoking. Of cheeses from overseas, Pliny preferred those of Bithynia in Asia
Minor.
Post-Roman Europe
The British Cheese Board claims that Britain has approximately 700 distinct
local cheeses; France and Italy have perhaps 400 each. (A French proverb holds
there is a different French cheese for every day of the year, and Charles de
Gaulle once asked "how can you govern a country in which there are 246 kinds
of cheese?") Still, the advancement of the cheese art in Europe was slow during
the centuries after Rome's fall. Many cheeses today were first recorded in the
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late Middle Ages or after—cheeses like Cheddar around 1500, Parmesan in
1597, Gouda in 1697, and Camembert in 1791.
In 1546 The Proverbs of John Heywood claimed "the moon is made of a green
cheese." (Greene may refer here not to the colour, as many now think, but to
being new or unaged.) Variations on this sentiment were long repeated
and NASA exploited this myth for an April Fools' Day spoof announcement in
2006.
Modern era
Until its modern spread along with European culture, cheese was nearly unheard
of in east Asian cultures, in the pre-Columbian Americas, and only had limited
use in sub-Mediterranean Africa, mainly being widespread and popular only in
Europe, the Middle East, the Indian subcontinent, and areas influenced by those
cultures. But with the spread, first of European imperialism, and later of Euro-
American culture and food, cheese has gradually become known and
increasingly popular worldwide.
The first factory for the industrial production of cheese opened in Switzerland in
1815, but large-scale production first found real success in the United States.
Credit usually goes to Jesse Williams, a dairy farmer from Rome, New York,
who in 1851 started making cheese in an assembly-line fashion using the milk
from neighbouring farms. Within decades, hundreds of such dairy associations
existed.
The 1860s saw the beginnings of mass-produced rennet, and by the turn of the
century scientists were producing pure microbial cultures. Before then, bacteria
in cheesemaking had come from the environment or from recycling an earlier
batch's whey; the pure cultures meant a more standardized cheese could be
produced.
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Factory-made cheese overtook traditional cheesemaking in the World War
II era, and factories have been the source of most cheese in America and Europe
ever since.
Amul
Britannia
Govardhan
Choudhary
Flanders dairy
Acers Wild Gourmet Cheese
ABC Farms
La Ferme Cheese.
Dairy craft
Passion Cheese
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Types of cheese
20
Cheese Market in India
Although cheese is extensively used in fast food items like pasta, pizzas,
burgers, sandwiches, wraps, tacos, cakes, garlic bread, etc., it is also being
included in traditional Indian recipes such as dosa, uthappam and parathas.
With the growing working population and their altering food patterns, the
fast food industry is experiencing a healthy growth which, in turn, is
augmenting the demand for cheese. Apart from this, with an increase in the
number of organized retail outlets, numerous global players are now
investing in the Indian cheese market. Moreover, several manufacturers
are engaging in marketing campaigns through different advertising media
like newspapers, televisions and social media platforms to increase
awareness among consumers about the benefits of cheese. These factors
are anticipated to boost the consumption of cheese in the upcoming years.
1. Breakup by Type:
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On the basis of types, the market has been divided into processed cheese,
mozzarella, cheddar, Emmental, ricotta and others. At present, processed
cheese represents the most popular product type in India.
2. Breakup by Format:
Based on formats, the market has been classified into slices, diced/cubes,
shredded, blocks, liquid, crème and cheese spreads. Amongst these, cheese
slices hold the dominant share as they are widely used in homes and
restaurants for preparing sandwiches and burgers.
3. Breakup by Application:
5. Breakup by Retail/Institutional:
The cheese market in India has been bifurcated into retail and institutional
channels, wherein retail sales exhibit a clear dominance in the market.
Cheese is supplied to supermarkets/hypermarkets, department stores, malls
and retail shops for further distribution to consumers.
6. Regional Insights:
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7. Competitive Landscape:
A restaurant is a place where cooked food is sold to the public, and where
people sit down to eat it. It is also a place where people go to enjoy the time and
to eat a meal.
Some restaurants are a chain, meaning that there are restaurants which have the
same name and serve the same food. McDonald's, Burger King, and Pizza
Hut are examples of chain restaurants that are all over the world. These
restaurants serve fast food, that is, inexpensive food, prepared and served
quickly. At some, you do not have to even get out of the car to eat. You can pay
and get your order from a window. These places are called drive-throughs.
There are also chain restaurants that serve slightly more expensive food. They
are called fast casual restaurants. Applebee's and Perkins are examples of this
type of chain restaurant.
Haute cuisine or 'fine dining' is found in a guide, such as the Michelin Guide,
the most famous restaurant guide in the world. Their 3-star rosettes are given
only to restaurants with the highest standards of cooking and service.
Interestingly, the Guide gives more 3-stars to Tokyo and Kyoto than
to Paris, London and New York together.[1][2] Traditionally, the restaurants of
top hotels such as the Hotel de Paris in Monte Carlo or the Hôtel Ritz Paris were
the main places recognized for fine dining. Today, most Michelin Guide
restaurants are separate establishments.
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Different Types of Restaurants
1. Fine Dining
Most of the population might only visit high-end establishments for special
occasions, such as an anniversary, birthday, or wedding. The majority of fine
dining restaurants can be characterized by the following:
2. Casual Dining
The ambiance of casual dining restaurants varies greatly based on the brand and
intended customer base, but most share the following qualities:
Moderately-priced menus
Table service
Low-key atmosphere
Unique decor
3. Contemporary Casual
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Recently, contemporary casual restaurants have emerged. These types of
eateries are modern and trendy with a distinct brand. Many follow eco-friendly
protocols and serve unique, healthy food options featuring fusion cuisine.
4. Family Style
Some family style restaurants only feature shareable platters. Other restaurants
offer a family style option along with the option for individual dishes. Below
are common attributes of a family style restaurant:
5. Fast Casual
There is a rising number of fast casual restaurants that cater to people looking
for a quick bite that's healthier than fast food but more affordable than sit-down,
casual restaurants. Most fast casual restaurants have the following
characteristics:
Quality of food and prices are usually higher than fast food but lower than
casual dining
Counter service
Casual, contemporary environment and décor
6. Fast Food
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You're likely familiar with the most popular fast food restaurants, like
McDonald's and Taco Bell. Below are the characteristics shared by most fast
food places:
8. Café
Whether you need a quick cup of coffee on your way to work or are catching
up with an old friend, cafes provide a versatile space for different
purposes. Most cafes have the following attributes:
Usually serve coffee, tea, pastries, and small items for breakfast and lunch
Casual, relaxed atmosphere
Many people might work or socialize for periods of time at a cafe
8. Buffet
Buffets allow guests to customize their dining experience by providing an array
of options to choose from. Some are referred to as "All You Can Eat"
restaurants, and most feature a theme, such as buffets that specialize in Chinese
or Indian food. Below are common characteristics of a buffet:
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Could feature one cuisine or multiple
Usually a casual, yet elegant decor
Normally serve a small menu of a singular type of food (hot dogs, ice cream,
sandwiches, smoothies, etc.)
These are normally outdoors at sporting events, fairs, or on city streets
Food is partially or fully pre-made
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Depend on technology and social media to spread the word
Delivery only
Partner with third-party delivery services, like Grubhub or UberEats
No brick-and-mortar location
Range of food types
Strong website and social media presence
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2. Price. Restaurants fall under a price range of inexpensive to quite pricey.
Google uses dollar signs to denote the average price of a meal at its business
listings, providing a convenient way to look at restaurant pricing:
3. Food. Restaurants further differ as a result of each establishment's type,
quality, and presentation of food.
o Type of Food: Menus may be based on a cuisine from a certain region, or
they may solely feature innovations from the chef. Other restaurants
might devise menus based on specific types of food, as pizzerias and
steakhouses do, or according to certain diets, like plant-based ones.
o Quality of Ingredients: Quality relates to what the ingredients are, where
they’re from, and how they are prepared. For example, a restaurant may
solely utilize fresh, local, and organic ingredients
o Presentation of Meals: Some restaurants feature highly aesthetic dishes
with garnishes, whereas other restaurants utilize a more modest, simple
presentation. Some restaurants only serve food in disposable take-out
items and others serve on the finest dinnerware.
Overview
1. The restaurant and food service industry is a $660 billion industry in the
United States. Restaurants and other food-service providers are so
widespread that half of all adults have worked in food service in one way
or another at some point in their lives. The food service industry
encompasses any establishment that serves food to people outside their
home. This includes restaurants, carryout operations, cafeterias,
university dining halls, catering and vending companies, hotels and inns,
and rehab and retirement centers.
2. This industry is divided into two groups: Those that prepare and serve
food and those that produce and distribute food, equipment, and services
29
needed by food providers. The most common example of the first group
is restaurants. Restaurants employ front of the house people and back of
the house people. The former includes bartenders, wait staff, hosts, and
busboys. The latter includes chefs, cooks, managers, and dishwashers.
Fast food restaurants limit their staff to food preparation people,
managers, and cashiers. The trend of food trucks adds a mobile
component to food service and requires just a few people to drive the
truck, cook the food, and serve it through a window.
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perceive as luxuries, which can include dining out. In addition, this
industry can be tumultuous, with restaurants opening and closing
frequently.
Speciality restaurants
31
History of speciality restaurants
32
VANAM
Milk
Ghee
Vegetables
Butter
Curd
33
PROBLEM STATEMENT
HYPOTHESES
OBJECTIVES
34
PURPOSE
This research made for give the solution for the problems
35
CHAPTER-2
REVIEW LITERATURE
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Perloff (2013) stated that Demand is an economic principle referring to a
consumer's desire to purchase goods and services and willingness to pay a price
for a specific good or service. Holding all other factors constant, an increase in
the price of a good or service will decrease the quantity demanded, and vice
versa. Market demand is the total quantity demanded across all consumers in a
market for a given good. Aggregate demand is the total demand for all goods
and services in an economy.
Boston (2011) stated that Market size in broad terms is the value or volume of
market. This market size is analysed or estimated on the basis of several
parameters for an ease to study the market. For an instance, the market size of
smart phones can be estimated by dividing the market on the basis of operating
technology I.e. Windows, Android or iOS. It can further be segmented into type
of screens used I.e. Touch, touch and type and others. The market can also be
classified among all the regions which are North America, Europe, Asia Pacific,
Middle East & Africa.
Ruta and Juozas (2010) stated in their study revealed consumer-based brand
equity is more difficult to evaluate because of its intangibility and subjectivity,
high expenditures on time and money as well as the lack of accessible and
applicable methodologies. Consumer-based brand equity attributes can be
sorted in two sections: attributes important for a consumer, as brand awareness,
brand image and associations, product quality, product price, and attributes
important for a company, as loyalty for a brand. The latter attribute is treated as
a combination of repeated purchases and differential price level. Attributes of
both sections form actual consumer based brand equity.
37
Kerala)”, January 2008. 70 influenced the consumers to a greater extent. Brand
patronization existed, particularly with the reputed brands.
Macionis (2001) stated that Consumer behaviour is the study of how individual
customers, groups or organizations select, buy, use, and dispose ideas, goods,
and services to satisfy their needs and wants. It refers to the actions of the
consumers in the marketplace and the underlying motives for those actions.
Marketers expect that by understanding what causes the consumers to buy
particular goods and services, they will be able to determine—which products
are needed in the marketplace, which are obsolete, and how best to present the
goods to the consumers. W.J. Hopp and M.L. Spearman (2000) stated that
Supply chain management is the management of the flow of goods and services
and includes all processes that transform raw materials into final products. It
involves the active streamlining of a business's supply-side activities to
maximize customer value and gain a competitive advantage in the marketplace.
SCM represents an effort by suppliers to develop and implement supply chains
that are as efficient and economical as possible. Supply chains cover everything
38
from production to product development to the information systems needed to
direct these undertakings.
Dillerup (1999) stated that The number of buyers and sellers in a particular
market. This is especially important for companies that wish to launch a
new product or service, since small markets are less likely to
be able to support a high volume of goods. Large markets could bring
in more competition.
Leonid (1997) stated that Market size, in simple terms, is the approximated
target number of people to whom you will be selling your products or services.
Let’s say you are selling ballpens. Basically, you can compute your market size
by estimating how many people will use your ballpeen in a certain location, say
in a city.
P.R. Smith (1995) stated that Market size of a particular sector or industry is
important for all the components of the value chain in that industry. The value
chain of a particular industry starts from raw material suppliers to the end users
of the industry. These components of the value chain invest in the form of new
technology, new product or services in the market. Raw material suppliers
increase or decrease the prices.
Assael (1994) stated that explained that consumer behaviour as the process of
perceiving and evaluating different components of a purchase. Furthermore, he
explains that there are two broad influences that decide consumer choice. At
First, the individual consumer’s needs, consciousness of brand characteristics
and awareness to alternatives are of significance in the matter of decision-
making. Other factors that influence the choice of brand are the consumer’s
demographics, lifestyle and personal
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Philip (1993) stated that Consumer behaviour is the study of individuals,
groups, or organizations and all the activities associated with the purchase, use
and disposal of goods and services, including the consumer's emotional, mental
and behavioural responses that precede or follow these activities. Consumer
behaviour emerged in the 1940s and 50s as a distinct sub-discipline in the
marketing area.
Steven (1993) stated that is the quantity of a good that consumers are willing
and able to purchase at various prices during a given period of time. The
relationship between price and quantity demanded is also known as
the demand curve. Preferences which underlie demand, are influenced by cost,
benefit, odds and other variables.
40
Kendrick (1990) stated that Market segmentation is the process of dividing a
market of potential customers into groups, or segments, based on different
characteristics. The segments created are composed of consumers who will
respond similarly to marketing strategies and who share traits such as similar
interests, needs, or locations.
Melendez (1973) stated that the market size for a business line is the total
potential number of customers or sales, usually in a given year. For an existing
type of business, you can look at existing sales numbers to understand the
market size. If you're rolling out a new brand of shampoo or car, it's unlikely
that you'll cause people to buy significantly more bottles of shampoo or new
cars, so the market size is essentially the existing sales numbers in the industry.
Market potential is often used as another term for the same concept. Often
rough sales numbers in an industry can be found online or through industry
publications.
Krugman (1965) stated that as the actions, thought process and perceived
outcome, in collaboration with environmental factors, during the course of
making a decision, which could result in a purchase. Some of the factors that are
significant in consumer behaviour are external environment, demographics and
personal characteristics, which are influenced by the consumer’s beliefs, values
and attitudes.
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Arrow, and Capron (1959) stated that Demand is an economic principle
referring to a consumer's desire to purchase goods and services and willingness
to pay a price for a specific good or service. Holding all other factors constant,
an increase in the price of a good or service will decrease the quantity
demanded, and vice versa.
Solomon (1733) stated that Pricing is the method of determining the value a
producer will get in the exchange of goods and services. Simply, pricing method
is used to set the price of producer’s offerings relevant to both the producer and
the customer. Every business operates with the primary objective of earning
profits, and the same can be realized through the Pricing methods adopted by
the firms.
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1. Research Area
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2. Population, Sample and Target respondent
was the sample, except for those which were not accessible/
3. Research Tool
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The researchers made personal visit to the restaurants/ café
5. Data Compilation
and authenticity.
‘findings’ section of the research report in line with Objectives of the research.
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REFERENCE
46
Romance of Marketing History, Proceedings of the 11th Conference on
Historical Analysis and Research in Marketing (CHARM), Boca Raton,
FL, AHRIM, 2003.
47
Behaviour,Elizabeth Parsons and Pauline Maclaran (eds), Routledge,
2009, pp 24-25
Solomon (1733), T., Pricing Strategy: Setting Price Levels, Managing
Price Discounts and Establishing Price Structures, Cengage Learning,
2011, pp 270-272
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