INDUCTION BASED TIFFIN & LUNCH BOXES.

MINI PROJECT- I REPORT

(KMBN 152)

Submitted by

Name-RISHABH SHARMA
Roll No.-
1st Semester

In the partial fulfillment of the requirement for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

SESSION: 2022- 2023

Under the supervision of:

Dr. Shantanu Kumar Sahu

Assistant Professor & Deputy Head
Dept. of Business Administration, HIMCS

HINDUSTAN INSTITUTE OF MANAGEMENT & COMPUTER STUDIES

(Affiliated to Dr. APJ Abdul Kalam Technical University, Lucknow)
Agra-Delhi Highway, NH-2, Farah, Mathura- 281122; www.himcs.edu.in

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 ACKNOWLEDGMENT

I take this opportunity to

express my deep sense of
gratitude, thanks and
regards towards
all those who have
directly or indirectly
helped me I the
successful completion of
this
project. I present my
sincere thanks to Prof.
Jitendra Singhal who has
sincerely supported
2
me with the valuable
insights into the
completion of this project.
I am grateful to all my
friends who have helped
me in the successful
completion of this
project.
Last but not the least I am
indebted to my parents
who provided me their
time, support

3
and inspiration needed to
prepare the project report.
Introduction Of The Product
Problem Statement: Since school days we all faced with a common problem that is
our foods /drinks getting cold or getting spoiled by the time of our interval or recess like
when our noodles used to become “noodle cakes” same is the case with French fries ,
burgers or even with our home-made veggies and ‘chai’ are not the same.
In our fast-paced life we often tend to put health on the backseat. The modern lifestyle has
made us forget our roots, India is the land of Ayurveda and it talks about the balance of the
human body . This concept is known as doshas also known as Tridoshas1 .
The Tridoshas are composed of all the five Mahabhutas, but one or the other is predominant,
with the other four are in lesser dominance. There can never be a state when one or the
other Mahabhuta is absent totally. All five are essential to sustain life. Proper balance among
these three Doshas is essential for good health.
It is not just adults who are facing this problem but our children too. According to Economic
times2, India still has one of the worst rates of child malnutrition in the world, despite
decades of investment to address this problem. India is ranked at the bottom of the Global
Hunger Index (2022), which is determined by factors such as child stunting, wasting, and
death placing India in 107th rank of 121 Countries.
Bottom line is that there is a need for an item which can keep the food fresh for long time
without hampering their convivence to get their food anytime, anyplace.

CONCEPT : So here is an idea where we go beyond our old air-tight tiffin, and have them
made with an amalgamation of stainless steel top and a ferrous metal base along with
induction rings at the bottom and as it is a common fact that majority of induction compatible
cookware can also be used with other stoves as well.
so our idea is to create a lunch box with electric 2 to 4 column tiffin and a single column
lunch box with induction plates with which we can reheat our meals at our convenience.
It is a new which can help to ease out students, daily commuters and office-goers to have
fresh food & beverages during and after a long day.

1
Understanding personality from Ayurvedic perspective for psychological assessment. S Shilpa, CG Venkatesha
Murthy. Date of Web Publication 5-Oct-2011

2
economictimes.indiatimes.com/news/new-updates/malnutrition-in-india-a-comprehensive-strategy-to-
combat-for-better-future/articleshow/96518242.cms

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NOVELTY: This is a new idea where you can heat the lunch box itself without the use of
any other utensil or even gas though the idea of induction based heating/cooking is decades
old but a tiffin or a lunchboxes something unheard of .
Major competition for the product is the existing lunchboxes and electric heating utensils but
we have an edge over them in terms of the innovation and how simpler it makes the life of
students, office-goers and daily commuters .

1. Market Feasibility:
TARGET CUSTOMER: : A Target customer is the person for whom the product or
service is meant to solve the problem. These target customers can be segmented into groups
on the basis of geography, demographics , behavior and psychography.

Here we study the lunch box customers by segmenting them into the
aforementioned classes.
Students- The Indian school education system is amongst the most renowned in the
world. There are 12.70 crore school students in India are female while 13.74 crores are male.
Enrollment of primary school students in India currently stands at 99.09%.
https://ezyschooling.com/parenting/expert/schools-teachers-students-statistics-2022The gross
enrollment ratio of secondary schools currently stands at 79.77%. Total enrolment in schools (Class 1
to 12) has increased by 1.12 % in 2020-21 as compared to 2019-20. With the total number of students
standing at more than 25 crores.3 So there is a vast market waiting to be captured , with the current
statistic it is much clear that the student population of India is growing each year and so is the market.

Year Wise Comparison Of Schools in India4

Here is a table depicting the increase in the number of schools in India in the past few
years.

Total Higher
Year Primary Secondary
Schools Secondary
Number of Schools in India in
15,18,160 12,89,958 1,41,941 86,261
2014
Number of Schools in India in
15,16,892 12,87,065 1,42,592 87,235
2015
Number of Schools in India in
15,22,346 12,86,803 1,43,196 92,347
2016
Number of Schools in India in
15,35,606 12,95,314 1,47,933 92,359
2017
Number of Schools in India in
15,58,903 12,69,236 1,64,403 1,25,314
2018
Number of Schools in India in
15,51,000 12,70,374 1,50,604 1,30,022
2019

3
https://ezyschooling.com/parenting/expert/schools-teachers-students-statistics-2022
4
Latest UDISE+ Report

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 Number of Schools in India in
15,07,708 12,22,485 1,51,489 1,33,734
2020
Number of Schools in India in
15,09,136 12,17,670 1,51,946 1,39,520
2021

Source: Latest UDISE+ Report

If you examine the above table closely, you will notice a downward trend in the number of schools in
India after 2018. Prior to that, there had been a significant increase in the number of schools,
especially as it shot up to 15,58,903 in 2017 from 15,18,160 in 2014. The downward trend, however,
does not indicate a negative standard of education. The decrease in the number of schools, in fact, was
a result of the amalgamation of schools across India. This downward trend, however, came to a stop
in 2021, as the number of schools increased to 15,09,136, while it had only been 15,07,708 in the year
2020.
These Customers can be divided into different segments as mentioned in the below table.

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 Demographic Psychograpic Behavioural

15-25 years Active &

Does little research
Spontaneous
School /College
Students Gets easily
Brand sensitive
influenced
Unemployed/interns
Pop culture /music need healthy and
lovers nutritious diet
Unmarried

depend on family Potential to regular

experiences stress
income/ stripends users

Office goers, Daily commuters and others: With the world economies facing
recession and the trend of mass lay-offs there is a downward trend in lunchbox
Market too but with the changing times there will be a surge in the coming
years, People are spending less and going out lesser than before, but on the
brighter side since covid there is rise in the preference of home-cooked meals
and it makes the little more bigger than before and gives a bigger opportunity
for the Lunchbox market as a whole .
In addition to the employees, the tourists, frequent travellers and people going
for recreation can be classified as Potential customers too .
These can be classified into 3 mentioned below.

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 Demographic Psychographic Behavioural

26-60 years Active Difficult to influence

Office goers,
Seeks value with respect
commuters,Households Quality/price sensitive
to the price paid.
and commuters

First time to regular

Employed People Family focused
customers.

Does extensive Market

Unmarried/Married Well travelled
research.

Middle to High Income

Enjoys Healthy lifestyle Experienced Buyers.
groups

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 2. Current Competition, Market size & Future Projections:
A lunch box (alt. spelling lunchbox) refers to a hand-held container used to transport food,
usually to work or to school. It is commonly made of metal or plastic, is reasonably airtight
and often has a handle for carrying.

Global Market scenario: The global Lunchbox market is dominated by few

selected players which are Pacific Market International, Tupperware, Hamilton
Housewares Pvt Ltd., Lock&Lock, Pigeon, Cello World, Zojirushi America
Corporation, Huhtamaki, American Aerogel, and Cambro Foodservice
Equipment and Supplies among others.
To achieve a substantial market share in the worldwide Lunch Box Market and
strengthen their position, manufacturers are pursuing expansion methods such
as current developments, mergers and acquisitions, product innovations,
collaborations, and partnerships, joint ventures.
Among these, Hamilton Housewares Pvt Ltd. is one of the most significant
manufacturers and distributors present in the global Lunch Box market5

Source: Statistica.com

5
https://dataintelo.com/report/lunch-box-market/

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Indian Market Scenario: Lunch Box Market is expected to grow from USD 10.05
billion in 2021 to USD 16.76 billion by 2029, at a CAGR of 6.8% % during the forecast
period 2022-20296.
Whereas in the Indian market , being one of the largest economies and a growing population
is the most suitable market for the lunch box industry. The Indian market is expected to reach
the valuation of USD 0.69 by 2029 which is currently valued at USD 0.29 in 2021.

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https://www.globenewswire.com

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 SWOT Analysis of Lunch Box Market7

Strengths Weaknesses

Wide variety of lunch boxes to choose from High cost of shipping

Customizable lunch boxes Limited customer service

High-quality materials used Limited distribution channels

Opportunities Threats

Expansion into new markets Competition from other lunch box companies

Partnering with other companies Changes in consumer trends and preferences

Adoption of new technologies Changes in government regulations

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https://dataintelo.com/report/lunch-box-market/

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 3. Technological feasibility
What is Induction Heating & how is it used in the food industry?
Induction heating is the process of heating electrically conductive materials, namely metals or
semi-conductors, by electromagnetic induction, through heat transfer passing through an
induction coil that creates an electromagnetic field within the coil to heat up and possibly
melt steel, copper, brass, graphite, gold, silver, aluminium, or carbide8.
An induction heater consists of an electromagnet and an electronic oscillator that passes a
high-frequency alternating current (AC) through the electromagnet. The rapidly alternating
magnetic field penetrates the object, generating electric currents inside the conductor called
eddy currents. The eddy currents flow through the resistance of the material, and heat it by
Joule heating. In ferromagnetic and ferrimagnetic materials, such as iron, heat also is
generated by magnetic hysteresis losses. The frequency of the electric current used for
induction heating depends on the object size, material type, coupling (between the work coil
and the object to be heated), and the penetration depth.
An important feature of the induction heating process is that the heat is generated inside the
object itself, instead of by an external heat source via heat conduction. Thus objects can be
heated very rapidly. In addition, there need not be any external contact, which can be
important where contamination is an issue.
Induction heating is used in many industrial processes, such as heat treatment in metallurgy,
Czochralski crystal growth and zone refining used in the semiconductor industry, and to melt
refractory metals that require very high temperatures. It is also used in induction cooktops.

Components of a basic induction heating setup.

8
https://en.wikipedia.org

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 Applications of Induction Heating
 For heating of silicon in semiconductor industries, the inductive heating principle is
used.
 This process is used in inductive furnaces for to heat metal to its melting point.
 As this is a contactless heating process, vacuum furnaces make use of this process for
making specialized steel and alloys that would get oxidized when heated in the
presence of oxygen.
 Induction heating process is used for welding of metals and sometimes plastics when
they are doped with ferromagnetic ceramics.
 Induction stoves used in the kitchen works on the inductive heating principle.
 For brazing carbide to shaft induction heating process is used.
 For tamper resistant cap sealing on bottles and pharmaceuticals, the induction heating
process is used.
 Plastic injection modelling machine uses induction heating to improve energy
efficiency for injection.
 Targeted heating for surface heating, melting, soldering is possible with the inductive
heating process.
 Besides metals, heating of liquid conductors and gaseous conductors is possible by
inductive heating.

Induction Cooking
Induction technology has been put to use in cooking since the early 1900s; however, it only
gained mainstream consideration in the past few decades. Manufacturers are now working to
produce more cost and energy efficient models, which are gaining popularity all over the
world.

Induction cooktops heat pots and pans directly, instead of using an electric or gas-heated
element. It boils water up to 50 percent faster than gas or electric, and maintains a consistent
and precise temperature. The surface stays relatively cool so spills, splatters and occasional
boil-overs don't burn onto the cooktop, making clean-up quick and easy.

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Principle: Induction cooking uses electric currents to directly heat pots and pans through
magnetic induction. Instead of using thermal conduction (a gas or electric element
transferring heat from a burner to a pot or pan), induction heats the cooking vessel itself
almost instantly.

An electric current is passed through a coiled copper wire underneath the cooking surface,
which creates a magnetic current throughout the cooking pan to produce heat. Because
induction doesn’t use a traditional outside heat source, only the element in use will become
warm due to the heat transferred from the pan. Induction cooking is more efficient than
traditional electric and gas cooking because little heat energy is lost. Like other traditional
cooktops, the evenly heated pots and pans then heat the contents inside through conduction
and convection.

Important: For induction to work, your cookware must be made of a magnetic metal, such as
cast iron or some stainless steels.

For high efficiency there should be as little electrical resistance in the coil and as much as
possible in the pan so that most of the heat is developed in the pan.
At the frequencies typically used in induction cooking (on the order of 25 kHz to 50 kHz),[2]
currents flow mostly on the outside of conductors (the skin effect). Reducing the skin effect
in the coil reduces its resistance and the heat wasted in the coil. Therefore, the coil is made
from litz wire, which is a bundle of many smaller insulated wires woven together in parallel.
Litz wire reduces skin effect, and coil resistance, so that the coil stays cool

Materials and compatibility: - Cookware must be compatible with induction heating;

generally, only ferrous metal can be heated. Cookware should have a flat bottom since the
magnetic field strength (heating power) drops rapidly with distance from the surface\
Induction disks are metal plates that are heated by induction and heat non-ferrous pots by
thermal contact, but these are much less efficient than ferrous cooking vessels.
Induction-compatible cookware can nearly always be used on other stoves. Some cookware
or packaging is marked with symbols to indicate compatibility with induction, gas, or electric
heat. Induction cooking surfaces work well with any pans with a high ferrous metal content at
the base.
Cast iron pans and any black metal or iron pans are compatible. Stainless steel pans are
compatible if the base of the pan is a magnetic grade of stainless steel. If a magnet sticks well
to the bottom of the pan, it is compatible. Non-ferrous cookware is compatible with "all-
metal" cookers.

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Financial feasibility:
What is a Revenue Model?
A revenue model is a framework for generating financial income. It identifies which revenue
source to pursue, what value to offer, how to price the value, and who pays for the value.
It is a key component of a company's business model. It primarily identifies what product or
service will be created in order to generate revenues and the ways in which the product or
service will be sold.
Without a clear and well-defined revenue model; in other words, a clear plan of how to
generate revenues, new businesses will more likely struggle due to costs which they will not
be able to offset. By having a clear revenue model, a business can focus on a target audience,
fund development plans for a product or service, establish marketing plans, open a line of
credit and raise capital

Which Revenue model is suitable for us?

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Being a product from the retail line and the preferable distribution medium would be through
online marketplaces like amazon,meesho etc and offline retail stores So the most suitable
revenue model would be Transaction based revenue model OR Markup revenue model

What is a Transaction-based revenue model?

A transaction-based model is a classic way a business can earn money. The revenue is
generated by directly selling an item or a service to a customer. The customer can be another
company (B2B) or a consumer (B2C). The price of the product or service constitutes the
production costs and margin. By increasing the margin, the business can generate more
income from sales.

Pros: Full control over the pricing strategy which impacts the revenue of the company.

Cons: Need a consistent source of products/services, marketing, and selling because you only
make money when there is a sale.

Markup revenue model

Markup is the type of revenue model with which you buy a product at a certain cost and then
sell it for a higher price: The difference between the two is your profit margin. This model is
often used by wholesale, retail, and service-based businesses.

For example, a wholesaler may be a bed bank — a B2B company that purchases rooms from
accommodation providers in bulk at a discounted, static price for specific dates, and sells
them to OTAs, travel agents, destination management companies, airlines, or tour operators.

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Pros. Markup revenue models are straightforward, allowing businesses to easily calculate
their profit margins on each sale. With this approach, businesses can be flexible with their
pricing by adjusting the markup to reflect changes in the cost of goods or changes in market
conditions.

Cons. While markups provide a great deal of flexibility, some organizations may not have
enough resources to manage revenue and apply changes to their markup strategy based on the
market state. So they set a uniform markup for all of their products or services. This may lead
to prices being too low or too high and businesses may not be able to fully capitalize on the
value of certain products.

Conclusion: The Induction Lunchbox is a new innovative idea which has the
capability to solve a problem which is faced by the majority of the working
class adults as well as children and young adults which is not getting fresh food
9
https://www.skeneur.com/types-of-revenue-models

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with our product people would be able to enjoy their homemade, nutritious food
at their own convenience of their work space.
India is a growing nation and so is its market, the potential is huge , the biggest
driving force for the market is its large population and their humble values
towards their money and food.
Our product has the ability to cater to these values without compromising with
the quality.

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REFERENCES:
1 Understanding personality from Ayurvedic perspective for psychological assessment. S
Shilpa, CG Venkatesha Murthy. Date of Web Publication 5-Oct-2011

2. economictimes.indiatimes.com/news/new-updates/malnutrition-in-india-a-comprehensive-
strategy-to-combat-for-better-future/articleshow/96518242.cms

3. https://ezyschooling.com/parenting/expert/schools-teachers-students-statistics-2022

4. Latest UDISE+ Report.

5. https://dataintelo.com/report/lunch-box-market/

6. https://www.globenewswire.com

7. https://dataintelo.com/report/lunch-box-market/

8. https://en.wikipedia.org

9 https://www.skeneur.com/types-of-revenue-models

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 I take this opportunity to express my deep sense of gratitude, thanks and regards
towards all those to have directly or indirectly helped me in the successful completion
of this project. I present my sincere thanks to Dr. Shantanu Kumar Sahu, Assistant
Professor & Deputy Head, Dept. of Business Administration, HIMCS who has
supported me with the valuable insights into the completion of this project

I am grateful to all my friends who have helped me in the successful completion of

this project

Dr. Shantanu Kumar Sahu

Assistant Professor & Deputy Head
Dept. of Business Administration, HIMCS

I hereby declare that the project work entitled

“INDUCTION BASED TIFFIN & LUNCH BOXES” is a record of an
original work done by me under the guidance of to Dr. Shantanu Kumar
Sahu, Assistant Professor & Deputy Head, Dept. of Business Administration
HIMCS, a n d t h i s p r o j e c t w o r k i s s u b m i t t e d i n t h e p a r t i a l
f u l f i l l m e n t o f t h e requirements for the award of the degree of Master Of
Business Administration. The results embodied in this thesis have not been
submitted to any other University or Institute for the award of any degree or
diploma

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