A PROJECT REPORT ON

Cadbury Enterprises Private Limited

In partial fulfillment of the requirement for the Programme Academic Year : M.B.A. (Sem. III) (IB) : 2013-2014

SUBMITTED BY: Names of Group Members Roll Nos.

Ankit Patel Harshil Patel Mitanshi Patel Viren Prajapati

04 05 06 07

SUBMITTED TO:

Prof.Romy Sabastian Prof. Mittal Dattani

Center for Management Studies Ganpat University

Introduction Cadbury, officially Cadbury Enterprises pte Limited, is a British confectionery company owned by Mondelz International and is the industry's second-largest globally after Mars, Incorporated.adbury was established in Birmingham by John Cadbury in 1824, who sold tea, coffee and drinking chocolate. Cadbury developed the business with his brother Benjamin, followed by his sons Richard and George. George developed the Bournville estate, a model village designed to give the company's workers good living conditions. The company is best known for its confectionery products including the Dairy Milk chocolate, the Creme Egg, and the Roses selection box. Dairy Milk chocolate in particular, introduced in 1905, used a higher proportion of milk within the recipe compared with rival products. By 1914, the chocolate was the company's bestselling product. Creme Eggs are made available for sale in the United Kingdom(now available all year)@ from January of each year until Easter, and are the bestselling confectionary product in the country during the period. The company was known as Cadbury Schweppes plc from 1969 until its demerger in 2008, when its global confectionery business, was separated from its US beverage unit (now called "Dr Pepper Snapple Group"). It was also a constant constituent of the FTSE 100 from the index's 1984 inception until the company was bought by Kraft Foods in 2010. Cadbury is headquartered in Uxbridge, London, and operates in more than fifty countries worldwide

COMPANY PROFILE- CADBURY COMPANY NAME:- CADBURY Cadbury Ltd was founded in 1824 by John Cadbury. Cadbury entered India in 1948 by importing chocolates. Type Industry Founded Subsidiary Confectionery Birmingham, United Kingdom (1824)

Headquarters

Uxbridge, London, United Kingdom Irene Rosenfeld (Chairman and CEO) See list of Cadbury products 5,384 million (2008) 388 million (2008) 364 million (2008) 71,657 (2008)[1] Kraft Foods (2010-2012) Mondelz International (2012-present) www.cadbury.co.uk

Key people Products Revenue Operating income Net income Employees

Parent

Website

CADBURY PRODUCTS:chocolates, confectionaries, milk products and candies.

ANNUAL REVENUEis approximately $50 billion. OPERATION: 60 countries EMPLOYEES: 60,000 Cadbury Vision:

(i) Cadburys Vision Statement Our objective is to deliver superior shareholder returns by realizing our vision to the be the worlds biggest and best confectionery company. We are currently the biggest, and we have an enduring commitment to become the undisputed best. At the heart of our plan is our performance scorecard, delivered through our priorities, sustainability commitments and culture Cadbury plans to deliver superior shareholder returns (Cadbury plc, 2008) by measuring its financial progress in the areas of growth, efficiency, capabilities and sustainability from 2008 to 2011 (Cadbury plc, 2008). A Cadbury in every pocket Cadbury Mission Statement:

Cadbury means quality: This is our promise. Our reputation is built upon quality: Our commitment to continuous improvement will ensure that our promise is delivered. We can say that this mission statement is realistic because if we see the quality and day to day improvements easily show that Cadburys have real mission statement.

HISTORY (CADBURY) In 1824, John Cadbury opened a shop in Birmingham. This one-man business, trading mainly in Tea & Coffee was to be the foundation of Cadbury Limited. For over 100 years Cadbury was a family business. In 1943 non family directors were appointed. In 1847, the enterprise had prospered to a large factory in Bridge Street, Birmingham. John Cadbury took his brother Benjamin into partnership and the family business became Cadbury Brothers Birmingham. The business moved to Bourneville after outgrowing the Bridge Street Factory. The Workforce had risen up to 200 after 32 years at Bridge Street. After the death of two brothers in 1899, the company was privatized. It entered the era of scientific management; it introduced new ideas for their department like: Advertisement & Cost Analytical Laboratories Sales Department Offices Education & Training for Works Committee Medical

Department employees On 2nd February, Kraft Foods took over 71% shares of Cadbury. They acquired it totally. But still Cadbury was on top in the market. This acquisition did not changed peoples mind and their craze for Cadbury Dairy Milk.

Cadbury began its operation in 1948 by importing chocolates and then re-packing them before distributing it in the Indian market. After 62 years, it is having five companies at

Thane, Induri (Pune), Malanpur (Gwalior), Bangalore, Baddi (Himachal Pradesh) and 4 sales offices in (New Delhi, Mumbai, Kolkata and Chennai). The corporate office is in Mumbai. The companys main purpose is Working together to create brands people love" capture the spirit of what we are trying to achieve as a business. We collaborate and work as team to convert products into brand. Simply, we spread happiness! Currently Cadbury India operates in three sectors viz. Chocolate Confectionery, Milk Food Drinks and in the Candy category. In the Chocolate Confectionery business, Cadbury has maintained its undisputed leadership over the years. Some of the key brands are Cadbury Dairy Milk, 5 Star, Perk, clairs and Celebrations. Cadbury enjoys a value market share of over 70% - the highest Cadbury brand share in the world! Cadbury is the "gold standard" for chocolates in India. The pure taste of CDM defines the chocolate taste for the Indian consumer. In the Milk Food drinks segment our main product is Bourn vita - the leading Malted Food Drink (MFD) in the country. Similarly in the medicated candy category Halls is the

undisputed leader. The Cadbury India Brand Strategy has received consistent support through simple but

imaginative extensions to product categories and distribution. A good example of this is the development of Bytes. Crispy wafers filled with coca cream in the form of a bagged snack, Bytes is positioned as "The new concept of sweet snacking". It delivers the taste of chocolate in the form of a light snack, and thus heralds the entry of Cadbury India into the growing bagged Snack Market, which has been dominated until now by Salted Bagged Snack Brands. Byte was first launched in South India in 2003. Since 1965 Cadbury has also pioneered the development of cocoa cultivation in India. For over two decades, we have worked with the Kerala Agriculture University to undertake

cocoa research and released clones, hybrids that improve the cocoa yield. Our Cocoa team visits farmers and advises them on the cultivation aspects from planting to harvesting. We also conduct farmers meetings & seminars to educate them on Cocoa cultivation aspects. Our efforts have increased cocoa productivity and touched the lives of thousands of farmers.

Cadbury Milestones The Cadbury story is a fascinating study of industrial and social developments. From a one man business in 1824, Cadbury has grown to be one of the world's largest producers of chocolate. A small family business developed into an international company and the high standards of the Cadbury brothers were combined with the most sophisticated technology, skills and innovation. Vision The governing objective for Cadbury India is to deliver Superior Shareholder value. Cadbury in every pocket. Sustain growth of Cadburys market through aggressive product development. Focusing on cost competitiveness & productivity in operations and innovative utilization of assets. Investing to develop people.

Mission To provide customers with a tempting and exquisite taste as enticing treats means a mouth watering treat which is simply irresistible. Cadbury means quality this is the promise of Cadbury. Its reputation is to built upon quality. Its commitment to continuous improvement will ensure that promise.

CADBURY PRODUCTS Chocolate Cadbury Dairy Milk Cadbury Celebrations Bournville 5 Star Perk Gems Toblerone

BRAND ELEMENTS Dairy Milk has been meticulously built around the world by Cadbury. It has been able to sustain a strong position in the market. There are many branding elements which have resulted into consistent result of its success. In India and across the world, the only chocolate wrapped in Purple with the logo of Cadbury written on it. Color of all other products of Cadbury like Gems which is so colorful. Packaging which introduces slight of milk splash shows the relation of milk with Cadbury. Insignia Logo which comes on the packaging in bold vintage Dairy font in white which also shows the relation of milk with the product. Logo Not only the above three, But there are many more elements due to which the consistent Branding of Dairy Milk is so very popular. Its different Advertisements, its punch lines etc It has always kept a strong association with Milk, with slogans such as a glass and half of full cream milk in every half pound. And also advertisement which featured a glass of milk pouring out and forming the Dairy Milk bar. Also the ad campaigns are also the important element of Dairy Milk. It made chocolate an eating habit among the consumers, especially the adults. Long back it was a belief that chocolate is only for kids. But Dairy Milk changed this belief. Also they changed the trend of Sweets (Mithai) during the occasions like Diwali, New Year etc Dairy Milk brought a new trend that whether any occasion, Dairy Milk is best for all. Tolani It also gave some famous dialogues from the ads which people remember always. They were also the core brand elements of Dairy Milk. Let us see them below: The Real Taste of Life- A girl Dancing on Cricket Field Khane walo ko Khane ka Bahana Chahiye Kuch Meetha Ho Jaye Pappu Paas ho Gaya Aaj Pehli Tareekh Hai Shubh Aarambh

All these above dialogues were form the very famous and popular ads of Dairy Milk.By this ad they wanted to covey to the people that for eating Dairy Milk they do not haveto wait for

any occasion. They can just have it. Whether they are happy or Sad, But Dairy Milk can be taken in any of the mood. BRAND PORTFOLIO Worldwide In June 1905, Cadbury launched its first Dairy Milk bar, with a higher proportion of milk and it became the best selling product of the company by 1913. Fruit and Nut was introduced in 1928.In 2003, Cadbury made Dairy Milk into a family brand by taking the brands like Caramel, Whole Nut, and Wispa and marketed them as the sub-brands of Dairy Milk. By2006, there were 15 Dairy Milk sub-brands produced in UK including Shortcake Biscuit, Wafer, Orange Chips, Mint Chips, Crispies and Cream Egg. In following two years these brands were discontinued as they were not successful. Indian Market The Dairy Milk Brand alone accounts for approximately 33% of total Cadburys sales. It has made Cadbury the number one confectionery brand in the market. Currently in India, Dairy Milk has following sub-brands under its name.

BRAND POSITIONING AND REPOSITIONING Cadbury Dairy Milk has been the market leader in the chocolate category for years and has participated and been a part of every Indian's moments of happiness, joy and celebration. Today, Cadbury Dairy Milk alone holds 30% value share of the Indian chocolate market.

In the early 90's, chocolates were seen as 'meant for kids', usually a reward or a bribe for children.

In the Mid 90's the category was re-defined by the very popular `Real Taste of Life'

campaign, shifting the focus from `just for kids' to the `kid in all of us'. It appealed to the child in every adult and Cadbury Dairy Milk became the perfect expression of 'spontaneity' and 'shared good feelings'. The 'Real Taste of Life' campaign had many memorable executions, which people still fondly remember. However, the one with the "girl dancing on the cricket field" has remained etched in everyone's memory, as the most spontaneous & uninhibited expression of happiness. This campaign went on to be awarded 'The Campaign of the Century', in India at the Abby (Ad Club, Mumbai) awards.

In the late 90's, to further expand the category, the focus shifted towards widening chocolate consumption amongst the masses, through the 'Khanewalon Ko Khane Ka Bahana Chahiye' campaign. This campaign built social acceptance for chocolate consumption amongst adults, by showcasing collective and shared moments.

More recently, the 'Kuch Meetha Ho Jaaye' campaign associated Cadbury Dairy Milk with celebratory occasions and the phrase "Pappu Pass Ho Gaya" became part of street language. It has been adopted by consumers and today is used extensively to express joy in a moment of achievement and success. The interactive campaign for "Pappu Pass Ho Gaya" bagged a Bronze Lion at the prestigious Cannes Advertising Festival 2006 for 'Best use of internet and new media'. The idea involved a tie-up with Reliance India Mobile service and allowed students to check their exam results using their mobile service and encouraged those who passed their examinations to celebrate with Cadbury Dairy Milk. The 'Pappu Pass Ho Gaya' campaign also went on to win Silver for The Best Integrated Marketing Campaign and Gold in the Consumer Products category at the EFFIES 2006 (global benchmark for effective advertising campaigns) awards.

STRATEGIES OF CADBURY Product strategy We have the competitive advantage that is our quality. It is recognized throughout the world and our product is a convenience product. Promotion strategy: We can distinguish ourselves from the competitors on the following criteria: Important: as we are the first one launching nuts coated with chocolate .and due to winter season it will serve as a good product to our target market. Communicable: yes the difference is communicable to the buyers through our advertisements on TV and billboards. Affordable: as the result of a survey the prices set are economical. Positioning strategy: More for the same: As we are offering the same quality same taste at a economy price.

Brand strategy: We will position our brand at its attributes that is its innovative ingredient and good taste. And strong beliefs and values as Cadburys have many loyal customers. The product name is Enticing Treats means a mouth watering treat which is simply irresistible The brand is licensed and is a international brand.

Pricing strategy Our pricing strategies are as follows Weight Prices

20gm pack, 50 gm Pack, 150 gm Pack, 350 gm Tin, 500 gm Tin,

Rs.10 Rs.30 Rs.90 Rs.175 Rs.350

And it is concluded from the survey that customers by looking this price chart have accepted the prices and called it as an economical.

4 PC OF CADBURY Place

Cadbury dairy milk is produced at the chocolate factory in Bourneville in Birmingham. After the chocolate is produced and has undergone all the quality checks it is transported to the stockrooms. After this Cadbury sells it products to shops that deal with beverages and confectionery e.g. corner shops, super stores. They then sell it to the general public. Cadbury produces chocolate for more than 200 countries so that they have a chance to enjoy it as well and make profit. Product

My product is a re-launch of Cadbury dairy milk. Cadbury dairy milk is made from real chocolate. Its ingredients include cocoa butter and there is a glass and half full cream dairy milk in every 200 grams of Cadbury dairy milk chocolate, Cadbury buys 65 million litres of fresh milk each year to make Cadbury dairy milk chocolate.

Price

Price is an important element of the marketing mix. The price charged for a chocolate bar can determine whether a consumer will buy it and the level of sales achieved can determine whether or not Cadbury Schweppes will make a profit.

Promotion

The purpose of promotion is to communicate directly with potential or existing customers, in order to encourage them to purchase dairy milk and recommend it to others.

CHANGE IN OBJECTIVE OVER THE YEARS When cadbury came in india its prime focus was to rely on its quality as the consumer was not aware of the brand or the product and their marketing strategy was also the same emphasizing about the quality of the product and the newness in the product.

The Real Taste of Life with the girl dancing on the cricket field The message: Dairy Milk is for enjoyment

DURING THE LATE 90S: As the company established its brand value among the masses as a quality product their next target was to increase the consumer base and in business sense market penetration.

Campaign: Khanewalonkokhanekabahanachahiye. Target: widening chocolate consumption among the masses.

As can be seen clearly in the picture that they are targeting everyone at the same time

-adults -adolescents -kids -elders And potraying as Cadbury can be used when a family gets together.

MORE RECENTLY More recently Campaign: kuchmetha ho jaye. Target: to associate Cadbury with celebratory occasion.

Chocolate is highly perishable So to increase the popularity and familiarity they have used the concept of mithai which is very familiar to the Indians and on any occasion the sales of Cadbury would tend to increase. CADBURY CELEBRATIONS is one such example.

CAMPAIGN:pappu pass ho gaya. Target: encourage those who have pass the exams to celebrate with Dairy Milk. This was avery successful campaign which Generally targeted the youth and children who would pass exams. . The advertisement potrays that when a person passes an exam an elder or any other person can give a Cadbury dairy milk.

CAMPAIGN: AAJ PAHLI TARIK HAI Target: To celebrate pay day / salary day

This campaign generally targeted all the customers who are earning members of the family as we know that children and youth would anyway buy Cadbury but the earning members were being leftout so they specifically targeted them by this campaign. They made it a point that the person buys the chocolate on the first of every month.

Porters five forces

(1) MARKET CONCENTRATION & COMPETITION The chocolate industry is highly concentrated. Cadbury and Nestle together account for 90% of the retail sales with Cadbury being the market leader. Competition in this industry is fierce,especially between Cadbury and Nestle. Both Cadbury and Nestle have rival products in everysegment (Cadburys DairyMilk, 5 Star, Perk vs. Nestles Classic, bar-one, munch, etc.)

(2) BARRIERS TO ENTRY The industrys main barrier to entry is with respect to advertising. The incumbent firms have spentmillions of rupees to create brand-loyalty with consumers. The cumulative effects of advertisingcreate an absolute cost advantage for the incumbent firms, thus entrants must overcome not onlycurrent advertising efforts, but also the lingering impact of past marketing campaigns. High sunkcosts also act as a barrier to entry.

(3) SUPPLIER POWER Industry uses a wide range of raw materials in manufacturing chocolate products, the main ones beingcocoa beans, sugar and other sweeteners (including polyols and artificial sweeteners such asaspartame), dairy products (including milk), gumbase and fruit and nuts. Cadbury buys its raw materials from suppliers around the world. No single supplier accounts for morethan 10% of their raw material purchases.

(4) BUYER POWER

End consumers have strong buyer power because of the availability of substitutes, both generic and brand names. It is easy for a consumer to purchase a nearly identical product for a lower price. Thisgives consumers a great deal of leverage and leads Cadbury to spend millions of rupees to createproduct differentiation via advertisements and new products to catch up with the evolving trends in the market.

(5) SUBSTITUTES The current trends in the market suggest that traditional sweets are possible substitutes for chocolates. In order to strengthen the special relationship consumers share with chocolates, Cadbury Indialaunched its all-year-round Cadbury Celebration gifting range with an array of newly designedCadbury Celebration packs.

Model of porters five forces

SWOT ANALYSIS-COMPANY STRENGTHS Reputed internationally as the topmost chocolate provider in the world. The brand is well known to people & they can easily identify it from others. Cadbury the world leaders in chocolate, is a well-known force in marketing and distribution. Users have a positive perception about the qualities of the brand. Cadbury has well adjusted itself to Indian custom.

Cadburys (Kraft Foods) is a very profitable organization, generates revenue more than 6,508 billion (2005) It is a global chocolate brand and enjoys a reputation for superior quality products and services Cadburys was one of the Fortune Top 100 in 2005. The company is a esteemed employer that values its employees Maintain a stable growth of a company, With its brand name, Cadbury could counterattack the competitors. Keep up with the financial strength by increasing its sales and profit. Acquisition rules in UK, reduce its dependence on the UK market. Overall, Cadbury has been successful through the new products (development) it has to offer.

WEAKNESSES

Weak position in the US market. Lack of distribution network. Total French production of chocolate bars and confectionary has slowed down in more recent years, partly due to the economic slump. Consumption of chocolate products, fall in demand due to the gloomy economic situation. There is lack of penetration in the rural market where people tend to dismiss it as a high end product. It is mainly found in urban and semi-urban areas. It has been relatively high priced brand, which is turning the price conscious customer away. People avoid having their chocolate thinking about the egg ingredients. Sales of milk chocolate bars, which account for 24 per cent by volume of total sales of chocolate bars, decreased by 3.7 per cent. Cadburys enjoys a reputation because it comes up with creative and innovative ideas however there are concerns regarding the possibility that their innovation may falter over time. The organization has a strong presence in the United States of America, UK and India. It is often argued that they need to look for a portfolio of countries, in order to spread business risk. Cadbury's recalled over 1 million chocolate bars over salmonella fears The organization is dependant on a main competitive advantage, the retail of coffee. This could make them slow to diversify into other sectors should the need arise.

OPPORTUNITIES

Through its confectionary product line, to build viable positions in prioritized markets. Cadbury has other opportunities to have market development in Russia and China. This company is also at the same time distributing its products via the internet Develop Gourmet Line. Besides developing the Low Calorie line of chocolates and sweets, they also offer the Sugar Free sweets line. The chocolate market has seen one of the greatest increases in the recent times (almost @ 30%) There is a lot of potential for growth and a huge population who do not eat chocolates even today that can be converted as new users. Therefore in order to get the product into a new foreign market, France, Cadbury would have good opportunities in store for them.

Cadbury has decided to focus on a few of its key brands such as Cadbury Dairy Milk, Oreo to achieve growth for the company. Co-branding with other manufacturers of food and drink, and brand franchising has potential. Cadbury India is acquired by Kraft Foods

THREATS

The company should take note of the changes in the consumers buying trend. There exists no brand loyalty in the chocolate market and consumers frequently shift their brands. New brands are coming and existing brands are introducing new variants to add up to an already overcrowded market. price wars would occur between its competitors like Mars, Hershey and Nestle. There would be seasonal sales slumps all year round which will reflect to an increase in cost of the raw materials needed. Cadbury would then have to be prepared for growth of small local gourmet chocolates and regional candy manufacturers. Also to be aware of the cost of packaging materials as it has increased over time. Increase Marketing and Promotion globally by marketing products in emerging markets.

Cadburys are exposed to rises in the cost of chocolate and cocoa. Devaluation of rupee and currency fluctuation Conflicts between Kraft foods (USA) and Cadburys (UK)

SEGMENTATION OF CADBURY SEGMENTATION : Cadbury India Ltd continuously markets Dairy Milk as a relatively inexpensive treat, towards market segments divided by age, income, technological knowledge and healthconsciousness.

In the 1990s, the company stated promoting the chocolate for the kid in everyone, in an attempt to appeal to adults as well as children (Cadbury Dairy Milk, 2008). In order to appeal to potential lower-income customers in the villages of India, further marketing in the form of the Real taste of life campaign (Cadbury Dairy Milk, 2008) By using opinion leaders from Bollywood and using extensive advertising in newspapers, television, magazines and massive billboards across the country, Cadbury managed to capture the attention of the nation and cement its market share superiority in India (Cadbury Dairy Milk, 2008; Marketing Communications, 2008). Furthermore, Cadbury India continuously develops new versions of its Dairy Milk brand in order to keep its adult and children consumers satisfied and interested. Variations include the Fruit & Nut and Crackle & Roast Almond variations. Cadbury Dairy Milk Wowie, with Disney characters embossed on each chocolate square (Cadbury Dairy Milk, 2008) clearly targets the child segment of its market. POSITIONING: Cadbury India Ltds main sources of competition come from Amul, Indias own dairy company and Nestle India, Nestles subsidiary in India. Cadbury India controls around 70% (Cadbury India Ltd., 2008) of the chocolate market, whereas Amul controls around 2% (Dobhal, n.d.) and Nestle India around 27% (Nestle to expand, 2008).

Cadburys main strength comes from it ability to market Dairy Milk products through altering the theme and functionality of the product as the time demands (Cadbury India Ltd Analysts Meet, 1999). Although this has allowed it to control more of the market than its closest competitors, the reasons for its success may also lie in the fact that many Indians still view its chocolates as luxury products (Cadbury India Ltd Analysts Meet, 1999) and not as household goods. Despite Amuls longer history in India, its chocolates are viewed as being local and not luxurious, justifying a lower price tag.

GEOGRAPHIC SEGMENT DEMOGRAPHIC SEGMENT BEHAVIORAL SEGMENT PSYCHOGRAPHIC SEGMENT

GEOGRAPHIC REGION:Chocolates are everybodys favourate so there is no limit of region , it is used all over the world. COUNTRIES: Perhapes categorized by size , development and membership of geographic region. CLIMATE: Northern n southern

DEMOGRAPHIC AGE: 5-60 GENDER: Male/Female FAMILY LIFE CYCLE: Young, Single, Married, Older INCOME: As concluded from the survey that our prices are economical so everyone can afford it. EDUCATION: Grade school or less, some high school, high school graduate, college graduate. PSYCHOGRAPHIC Attitude towards the product: the attitude towards our product is positive as people are very in trusted in our new product. Life Style: Thoseare willing to experiment with alternateproducts in place of conventional food items, as the universe of chocolateconsumption is changing from occasion led to more casual consumption.

BEHAVIORAL Occasions:-We are targeting special occasions like New Years Eve and Valentines Day . Eid etc. Benefits: - We are providing good quality product at economical prices. Keep the customers fitness in mind we are providing chocolate coated with nuts which will have a low calorie count.

Usage Rate: The user rate is heavy in the behavioral segmentation of Cadbury dairy milk.

COMPETITORS OF CADBURY

Within Chocolate, it's interesting that Cadbury is a very small player outshone by Nestle, M&M Mars (now called Masterfoods) and Hershey Cadbury is a distant 4th. But, in Canada & Europe, Cadbury is a huge player - perhaps #2. This is because Cadbury Schweppes is British based and hence has a much larger presence in Europe, Canada & Australia.

CONCLUSION: In order for Cadbury to reach the peak of achievement, the company would have to stress on the global growth of the product. It can be a risk to market it in the region France, but with careful study of the target market segments and its economic position, it can be an attainment. Cadbury should also look into other countries like the Asia Pacific in order to market its products popular globally. But then again, careful considerations to look at its major competitors and to obtain the rules and regulations of a certain country are equally important. Cadburys strategy to attract consumers is somewhat unique in a sense, instead of focusing on the product, it seeks to tap into emotions normally associated with chocolates. They have also adapted their strategies to the unique demands of the Indian retail sector. The strategy has clearly proved successful, as they have been able to build and maintain a leadership position in the market with many loyal customers.

BIBLIOGRAPHY www.google.com

www.wikipedia.com

www.cadburyindia.com