Understanding nutritious cookies acceptance and formulating strategic decisions for nutraceutical's penetration in Indian markets

Abstract

Nutraceutical Rich Organic India (P) Ltd is an Indian manufacturing company based in Prayagraj, Uttar Pradesh. The company wants to establish itself in the southern markets and wants to develop an understanding about the eating preferences of the segment. Therefore, as a part of our project study, we had opted for doing consultancy research for Nutraceutical in order to give significant insights about the preferences of the customers in general and the consumer behavior across geography. The company is in the business of manufacturing millet-based cookies viz-a-viz Ragi , Barnyard millets, Bajra and also gluten free cookies. These cookies are rich in omega 3 and omega 6 along with lots of fibre and minerals to boost energy system of one's body. Nutraceutical is also a leading manufacturer of diabetic friendly multi grain Atta made from II grains & millets 1 • The company manufactures its cookies under the brand name of Grandmaa MiUets. The broader objective of this research study is to encompass a general overview of Nutraceutical's potential market base and to offer certain strategic moves for the company's penetration into the Delhi markets. This intermediate report outlines the different aspects of a customer living across Southern India in terms of his/her eating preferences. It particularly highlights the consumer inclinations towards a category such as super grain biscuits. It also attempts to explore if the people are aware of the benefits that come with the consumption of super grains such as Bajra & Ragi. Finally, the report aims to present the overall take of customers towards the biscuits of Nutraceutical in terms of (A) Sensory factorsFlavour, Taste, Colour, Texture & overall acceptability and in terms of (B) Non-Sensory factors- Price & Nutrient information on the packets. The study finds that the overall acceptability ofNutraceutical's biscuits is average. Also, the fmdings suggest that 43% of the population surveyed depicted their willingness to purchase super grain biscuits. Hence, the market potential is quite immense for Nutraceutical. The study suggests that Nutraceutical should work on appealing the sensory parameters of its cookies. Moreover, the company needs to reposition itself to fit the taste preferences of the consumers of Bengaluru. Lowering the product cost is also a key recommendation made to the company after studying the customer's psyche through the study. Finally through the study we have outlined brand communication strategies, packaging, pricing and channel specific strategy as pillars of key driving factors that could help the brand to scale to its business vision.