Research report submitted in the fulfillment of requirements for the Master of b
usiness Administration (II SEM) Submitted To: MISS P.VAKULA Submitted By: RAJEEV KUMAR MBA (II SEM) DEPARTMENT OF MANAGEMENT STUDIES CHOUKSEY ENGINEERING COLLEGE, BILASPUR 1 CERTIFICATE This is to certify that RAJEEV JHA student of second semester, Master of Busines s administration (MBA) has completed the project report work entitled PROMOTIONAL STRATEGY OF HINDUSTAN UNILEVER LTD. based on syllabus and has submitted a satisf actory account of his work in this report. Lecturer MISS. RUCHI TIWARI MDITM,INDORE 2 ACKNOWLEDGEMENT The research on PROMOTIONAL STRATEGY OF HINDUSTAN UNILEVER LTD.. has been given to me as part of the curriculum in the completion of 2-Years Master of business Ad ministration. I have tried my best to present this information as clearly as pos sible using basic terms that I hope will be comprehended by the widest spectrum of researchers, analysts and students for further studies. I have completed this project under the able guidance and supervision of Miss NAMRATA TRIPATHI. I wil l be failed in my duty if I do not acknowledge the esteemed scholarly guidance, assistance and knowledge I have received from them towards fruitful and timely c ompletion of this work. We also thanks NIRMA DISTIBUTER & DELERS, INDORE who believed in us and by provid ing ALL valuable information and data that helped us in understanding the proble m areas of their organization and hence developing the application as per their requirements. FROMANSHUL TIWARI 3 INDEX Sr. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Contents EXECUTIVE SUMMARY INTRODUCTION OBJECTIVE LITERATURE REVIEW (COMPANY PROFILE) DAT A ANALYSIS DATA INTERPRETATION HYPOTHESIS FINDINGS RECOMMENDATIONS CONCLUSION BI BLIOGRAPHY ANNEXURE Page No. 4 EXECUTIVE SUMMARY Hindustan Unilever Limited (HUL) is India's largest fast moving consumer goods c ompany, with leadership in Home & Personal Care Products and Foods & Beverages. HUL's brands, spread across 20 distinct consumer categories, touch the lives of two out of three Indians. They endow the company with a scale of combined volume s of about 4 million tonnes and sales of nearly Rs.13,718 crores. The mission th at inspires HUL's over 15,000 employees is to "add vitality to life". With 35 Po wer Brands, HUL meets everyday needs for nutrition, hygiene, and personal care w ith brands that help people feel good, look good and get more out of life. It is a mission HUL shares with its parent company, Unilever, which holds 51.55% of t he equity. The rest of the shareholding is distributed among 360,675 individual shareholders and financial institutions. A Fortune 500 transnational, Unilever s ells Foods and Home and Personal Care brands in about 100 countries worldwide. H UL is also one of the country's largest exporters; it has been recognised as a G olden Super Star Trading House by the Government of India. Over time HUL has dev eloped into a viable & competitive sourcing base for Unilever world wide in Home and Personal Care & Foods & Beverages category of products. HUL is also a globa l marketing arm for select licensed 5 Unilever brands and also works on building categories with core country advantag e such as branded basmati rice. HUL's brands - like Lifebuoy, Lux, Surf Excel, Rin, Wheel, Fair & Lovely, Pond's , Sunsilk, Clinic, Pepsodent, Close-up, Lakme, Brooke Bond, Kissan, Knorr-Annapu rna, Kwality Wall's are household names across the country and span many categor ies - soaps, detergents, personal products, tea, coffee, branded staples, ice cr eam and culinary products. They are manufactured over 40 factories across India. The operations involve over 2,000 suppliers and associates. HUL's distribution network, comprising about 4,000 redistribution stockists, covering 6.3 million r etail outlets reaching the entire urban population, and about 250 million rural consumers. HUL believes that an organisation's worth is also in the service it renders to t he community. HUL is focusing on health & hygiene education, women empowerment, and water management. It is also involved in education and rehabilitation of spe cial or underprivileged children, care for the destitute and HIV-positive, and r ural development. HUL has also responded in case of national calamities / advers ities and contributes through various welfare measures, most recent being the vi llage built by HUL in earthquake affected Gujarat, and relief & rehabilitation a fter the Tsunami caused devastation in South India. 6 In 2001, the company embarked on an ambitious programme, Shakti. Through Shakti, HUL is creating micro-enterprise opportunities for rural women, thereby improvi ng their livelihood and the standard of living in rural communities. Shakti also includes health and hygiene education through the Shakti Vani Programme, and cr eating access to relevant information through the iShakti community portal. HUL is also running a rural health programme Lifebuoy Swasthya Chetana. If Hindustan Unilever straddles the Indian corporate world, it is because of being single-mi nded in identifying itself with Indian aspirations and needs in every walk of li fe. 7 HISTORY YEAR MILESTONES 1888 Sunlight soap introduced in India. 1895 Lifebuoy soap launc hed; Lever Brothers appoints agents in Mumbai, Chennai, Kolkata, and Karachi. 1902 Pears soap introduced in India. 1903 Brooke Bond Red Label tea launched. 19 05 Lux flakes introduced. 1913 Vim scouring powder introduced. 1914 Vinolia soap launched in India. 1918 Vanaspati introduced by Dutch margarine manufacturers l ike Van den Berghs, Jurgens, Verschure Creameries, and Hartogs. 1922 Rinso soap powder introduced. 1924 Gibbs dental preparations launched. 1925 Lever Brothers gets full control of North West Soap Company. 1926 Hartogs regis ters Dalda Trademark. 1930 1931 Unilever is formed on January 1 through merger o f Lever Brothers and Margarine Unie. Hindustan Vanaspati Manufacturing Company r egistered on November 27; Sewri factory site bought. Application made for settin g up soap factory next to the Vanaspati factory at Sewri; Lever Brothers India L imited incorporated on October 17. 1932 Vanaspati manufacture starts at Sewri. 1933 Soap manufacture begins at Sewri factory in October; North West Soap 1934 Compan y's Garden Reach Factory, Kolkata rented and expanded to produce Lever brands. 1 935 United Traders incorporated on May 11 to market Personal Products. 1937 Mr. Prakash Tandon, one of the first Indian covenanted managers, joins HVM. 8 1939 1941 1942 Garden Reach Factory purchased outright; concentration on building up Dalda Vana spati as a brand. Agencies in Mumbai, Chennai, Kolkata and Karachi taken over; c ompany acquires own sales force. Unilever takes firm decision to "train Indians to take over junior and senior management positions instead of Europeans". Reorg anisation of the three companies with common management but separate marketing o perations. Mr. Prakash Tandon becomes first Indian Director. Shamnagar, Tiruchy, and Ghaziabad Vanaspati factories bought. Three companies merge to form Hindust an Unilever Limited, with 10% Indian equity participation. Unilever Special Comm ittee approves research activity by Hindustan Unilever. 1943 Personal Products manufacture begins in India at Garden Reach Factory. 1944 1947 Pond's Cold Cream launched. 1951 1955 65% of managers are Indians. 1956 1957 1958 Research Unit starts functioning at Mumbai Factory. 1959 Surf launched. 196 1 Mr. Prakash Tandon takes over as the first Indian Chairman; 191 of the 205 man agers are Indians. 1962 Formal Exports Department starts. 1963 Head Office building at Backbay Recl amation, Mumbai, opened. 1964 Etah dairy set up, Anik ghee launched; Animal feed s plant at Ghaziabad; Sunsilk shampoo launched. 1965 Signal toothpaste launched; Indian shareholding increases to 14%. Lever's b aby food, more new foods introduced; Nickel catalyst production 1966 begins; Ind ian shareholding increases to 15%. Statutory price control on Vanaspati; Taj Mah al tea launched. 1967 Hindustan Unilever Research Centre, opens in Mumbai. Mr. V . G. Rajadhyaksha takes over as Chairman from Mr. Prakash Tandon; 1968 Fine Chem icals Unit commissioned at Andheri; informal price control on soap begins. 9 1969 1971 Rin bar launched; Fine Chemicals Unit starts production; Bru coffee launched Mr. V. G. Rajadhyaksha presents plan for diversification into chemicals to Unilever Special Committee - plan approved; Clinic shampoo launched. Pilot plant for ind ustrial chemicals at Taloja; informal price control on soaps withdrawn; Liril ma rketed. 1973 Mr. T. Thomas takes over as Chairman from Mr. V. G. Rajadhyaksha. 1974 Ten-year modernisation plan for soaps and detergent plants; Jammu project 1975 w ork begins; statutory price control on Vanaspati and baby foods withdrawn; Close -up toothpaste launched. 1976 1977 Construction work of Haldia chemicals complex begins; Taloja chemicals unit begins functioning. Jammu synthetic Detergents pl ant inaugurated; Indian shareholding increases to 18.57%. 1978 Indian shareholding increases to 34%; Fair & Lovely skin cream launched. 19 79 Sodium Tripolyphospate plant at Haldia commissioned. 1980 Dr. A. S. Ganguly t akes over as Chairman from Mr. T. Thomas; Unilever shareholding in the company c omes down to 51%. 1982 Government allows 51% Unilever shareholding. 1984 Foods, Animal Feeds busin esses transferred to Lipton. Agri-products unit at Hyderabad starts functioning - first range of hybrid 1986 seeds comes out; Khamgaon Soaps unit and Yavatmal P ersonal Products unit start production. 1988 Launch of Lipton Taaza tea. 1990 Mr . S. M. Datta takes over as Chairman from Dr. A. S. Ganguly. 1991 Surf Ultra det ergent launched. 1992 HUL recognised by Government of India as Star Trading Hous e in Exports. HUL's largest competitor, Tata Oil Mills Company (TOMCO), merges w ith the company with effect from April 1, 1993, the biggest such in Indian 1993 industry till that time. Merger ultimately accomplished in December 1994; Launch of Vim bar; Kissan acquired from the UB Group. HUL forms Unilever Nepal Limited , HUL and US-based Kimberley-Clark 1994 Corporation form 50:50 joint venture - K imberley-Clark Lever Ltd. - to market Huggies diapers and Kotex feminine care pr oducts. Factory set up at 10 Pune in 1995; HUL acquires Kwality and Milkfood 100% brandnames and distribution assets. HUL introduces Wall's. HUL and Indian cosmetics major, Lakme Ltd., form 50:50 joint venture 1995 Lakme Lever Ltd.; HUL enters branded staples business with salt; HUL recognised as Super Star Trading House. Mr. K. B. Dadiseth takes over as Chairman from Mr. S. M. Datta; Merger of 1996 Group company, Brooke Bond Lipton India Limited, with HUL, with effect from January 1; HUL introduces bran ded atta; Surf Excel launched. 1997 Unilever sets up International Research Labo ratory in Bangalore; new Regional Innovation Centres also come up. Group company, Pond's India Ltd., merges with HUL with effect from 1998 January 1, 1998. HUL acquires Lakme brand, factories and Lakme Ltd.'s 50% equity in Lakm e Lever Ltd. Mr. M. S. Banga takes over as Chairman from Mr. K. B. Dadiseth, who joins the Unilever Board; HUL acquires 74% stake in Modern Food Industries 2000 Ltd., the first public sector company to be disinvested by the Government of In dia. 2002 HUL enters Ayurvedic health & beauty centre category with the Ayush ra nge and Ayush Therapy Centres. 2003 Launch of Hindustan Lever Network; acquisition of the Amalgam Group 2005 La unch of "Pureit" water purifiers HLL's brands, spread across 20 distinct consumer categories, touch the lives of two out of three Indians. They endow the company with a scale of combined volume s of about 4 million tonnes and sales of Rs.10,000 crores. The leading business magazine, Forbes Global, has rated Hindustan Lever as the best consumer househol d products company. Far Eastern Economic Review has rated HLL as Indias most resp ected company. Asiamoney has rated HLL as one of Indias best managed companies. L eading national publications, like The Economic Times, Business World, and Busin ess Today have also rated HLL as one of Indias most respected companies and the n umber one in Market Value Added and EVA. The vision that inspires HLL's 32,400 e mployees (40,000 including Group Companies), including about 1,425 managers, is to meet everyday needs of people everywhere - to anticipate the aspirations of ou r consumers and customers and to respond creatively and competitively with brand ed products and services which raise the quality of life. 11 This objective is achieved through the brands that the company markets. It is an ethos HLL shares with its parent company, Unilever, which holds 51.55% of the e quity. A Fortune 500 transnational, Unilever sells Foods and Home and Personal C are brands through 300 subsidiary companies in about 100 countries worldwide wit h products on sale in a further 50. Business nature HLL is India's largest marke ter of Soaps, Detergents and Home Care products. It has the countrys largest Pers onal Products business, leading in Shampoos, Skin Care Products, Colour Cosmetic s, and Deodorants. HLL is also the market leader in Tea, Processed Coffee, brand ed Wheat Flour, Tomato Products, Ice cream, Soups, Jams and Squashes. HLL is als o one of the country's biggest exporters and has been recognised as a Golden Sup er Star Trading House by the Government of India; it is a net foreign exchange e arner. HLL is also driving exports in chosen areas where India has a competitive advantage Marine Products, Basmati Rice, Castor Oil and its Derivatives. It is India's largest exporter of Marine Products, and one of the largest global playe rs in castor. Market leading brands HLLs brands have become household names. The companys strategy is to concentrate its resources on 30 national power brands, an d 10 other brands which are strong in certain regions. The top five brands toget her account for sales of over Rs.3000 crores. Each of these mega brands has a po tential scale of Rs.1000 crores in the foreseeable future. Some of the big brand s in Soaps and Detergents are Lifebuoy, Lux, Liril, Hamam, Breeze, Dove, (all so aps), Surf Excel, Surf, Rin, Wheel (the number one detergent brand in India, and HLL's largest), 501, Sunlight (all detergents). HLL also markets the Vim and Do mex range of Home Care Products. In the Personal Products business, HLL's Hair C are franchises are Clinic, Sunsilk and Lux shampoos; the company markets Nihar o il. In Oral Care, the portfolio comprises Close-up and Pepsodent toothpastes and toothbrushes. In Skin Care, HLL markets Fair & Lovely Skin Cream and Lotion, th e largest selling Skin Care Product in India; a brand developed in India, it is now exported to over 30 countries. It has been extended as an Ayurvedic cream, a n under-eye cream, a soap and a talc, in line with the strategy to take brands a cross relevant categories. The other major Skin Care franchises are Ponds, Vaseli ne, Lakme and Pears. In Colour Cosmetics, HLL markets the Lakme and Elle-18 rang es. In Deodorants, the key brands are Rexona, Axe, Denim and Pond's, while the T alc brands are Pond's, Liril, Fair & Lovely, Vaseline and Lifebuoy. Axe and Deni m are HLLs franchises for Mens toiletries. HLL has recently launched Lever Ayush A yurvedic Health & Personal Care Products. HLL markets products, which consistent ly offer value in terms of price and quality and are safe for their intended use . Its operations are run in an environmentally sound and sustainable manner, ens uring that the processes and products conform to standards set by the authoritie s 12 S.W.O.T ANALYSIS SWOT Analysis is a strategic planning method used to evaluate the Strengths, Wea knesses, Opportunities, and Threats involved in a project or in a business ventu re. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from Fortune 500 companies. Strengths Weaknesses Leadership Position Global Brand Strength Internal High Geographical reach Oppor tunities Expanding marketing boundaries Strategic Alliances External Centralized Control Low Flexibility High Consumer churn rates Threats Increased Competition Market saturation in Europe Emergencies of Low cost Brands 13 DISTRIBUTION NETWORK Hindustan Unilever's distribution network is recognised as one of its key streng ths. Its focus is not only to enable easy access to their brands, but also to to uch consumers with a three-way convergence of product availability, brand commun ication, and higher levels of brand experience. HUL's products, manufactured across the country, are distributed through a netwo rk of about 7,000 redistribution stockists covering about one million retail out lets. The distribution network directly covers the entire urban population. The general trade comprises grocery stores, chemists, wholesale, kiosks and general stores. Hindustan Unilever services each with a tailor-made mix of services. The emphasis is equally on using stores for direct contact with consumers, as much as is possible through in-store facilitators. 14 The distribution network in general trade is as follows:- FACTORY JUST IN TIME DEPOT REDISTRIBUTION STOCKIST MARKET ( CHANNEL WISE ) CONSUMER The products that are manufactured are first brought to the JIT (Just In Time) D epot from the factory. Then these products are delivered to the Redistribution S tockiest according to the order placed by them, this is done through Permanent D espatch Plan.Then this stock is send to either retailers or wholesalers, accordi ng to the channel followed by them. From there it reaches to the consumers. 15 At the supermarkets Self-service stores and supermarkets are fast emerging in metros and large towns . To service modern retailing outlets in the metros, HUL has set up a fullscale sales organisation, exclusively for this channel. The business system delivers e xcellent customer service, while driving growth for the company and the store. A t the same time, innovative marketing initiatives are taken to provide consumers with experience of our brands at the store itself, through product tests and in -store sampling. This is termed as Modern Trade. It has got different distributi on network and work differently. It is fast gaining pace as more and more people are turning to malls for shopping. Today shoppers dont just want to buy their da ily groceries but they also want a shopping experience. They want to spend time in air conditioned store, no more they are ready to sweat for spending money. Th ese big box retailers provide them a platform where they can roam around, pick, compare and choose their products. These stores provide them a whole new experie nce of shopping without shedding any drop of sweat. 16 DISTIBUTION NETWORK FACTORY JUST IN TIME DEPOT CUSTOMER SERVICE PROVIDER BIG BOX RETAILER CONSUMER 17 PRODUCT PROFILE Hindustan Unilever is biggest company in the FMCG (Fast Moving Consumer Goods) s ector. Its products are divided into various categories. These are given as foll ows: Home and Personal Care: under this it is further divided into two parts: 1. Dets : all the detergents and dishwashers are covered in this. For example, Vim , Rin, Surf Exel. 2. Personal Products : this comprises of all the products related to personal ca re. these are as follows: - Oral: toothpaste and toothbrush ( Pepsodent, Close Up) - Skin: soaps, talcum p owder, fairness cream, body lotion, winter cream ( Pears, Vaseline, Fair & Lovel y, Ponds) - Hair: Shampoos ( Sunsilk, Clinic All Clear) 18 INTRODUCTION Marketing is a social and managerial process by which individuals and groups obta in what they need and want, through creating, offering and exchanging products o f value with others. - Philip Kotler. Marketing includes all those activities having to do with effecting changes in t he ownership and possession of goods and services. It is that part of economics which deals with the creation of time, place and possession utilities and that p hase of business activity through which human wants are satisfied, by the exchan ge of goods and services for some valuable consideration. - American Marketing A ssociation. Marketing is the process of discovering and translating consumer wants into prod uct and service specifications and then in turn helping to make it possible for more and more of consumers to enjoy more and more of these products and services . 19 Marketing consists of analyzing marketing opportunities, researching and selecti ng target markets, designing marketing strategies, planning marketing programs a nd organizing, implementing and controlling marketing effort. Companies have to identify long and short term marketing opportunities and research the selected m arket by measuring and forecasting attractiveness of the given market. Having se lected the market, the companies need to develop a differentiating and positioni ng strategy for the target market. The marketing strategy must be transformed in to marketing programs by deciding on marketing expenditures and the marketing mi x. The final step is organizing the marketing resources and implementing and con trolling the marketing plan. MARKETING MIX Marketing mix is the set of marketing tools that a firm uses to pursue its marke ting objectives in the target market. McCarthy has popularized a four factor cla ssification of marketing tools known as the 4Ps of the marketing mix. They are: P roduct Price Place Promotion Product : 20 Product stands for the firms tangible offer to the market, including the product quality, design, features, branding and packing. It deals with new product devel opment, product life cycle, product mix, product lines, branding and associated services to a product. From the customers point of view, it helps in satisfying t he customers needs and wants. Price : Price is the monetary value of the product. Price deals with selecting the prici ng objectives, setting the price, discounts, allowances, payment policies and cr edit terms. It is very important to the customers as it decides the cost the cus tomer has to pay to gain the product value. Place : This marketing tool stands for the various activities the company undertakes to make the product accessible and available to the customer. It involves market si ze, channel selection and management, storage and physical distribution with the ultimate purpose of efficiently supplying the companys offer to the target marke t. To the customer, this marketing tool refers to convenience. Promotion: Promotion stands for various activities the company undertakes to communicate an d promote its products to the target market. It involves communication 21 programs i.e. direct marketing, advertising, sales promotions, public relations and motivation of sales force. To the customer this tool provides knowledge and information. The Promotion Mix of a company includes the following tools; Advertising: It is any paid form of non-personal presentation and promotion of ideas, goods o r services by an identified sponsor. Direct Marketing: It refers to the use of mail, telephone and other non-personal contact tools to communicate with or solicit a response from specific customers and prospects. Personal Selling: Face to face interaction with one or more prospective purchasers for the purpose of making a sale refers to personal selling. Public Relations and Publicity: It refers to the variety of programs designed to promote and or protect a compan ys image or its individual products. Sales Promotions: 22 The short-term incentive to encourage trial or purchase of a product or service refers to sales promotion. Whereas advertising offers a reason to buy; sales pro motion offers an incentive to buy. Sales Promotion Sales promotion refers to the short-term incentives to encourage sales of a prod uct or service. It consists of a diverse collection of incentive tools, mostly s hort-term, designed to stimulate quicker and greater purchase of products or ser vices by consumers. Purpose of Sales Promotion Sales promotion tools vary in their specific objectives. They may be used to att ract new customers, to reward loyal customers and to increase the repurchase rat es of occasional users. Sales promotion usually targets brand switchers because non-users and users of other brands do not always notice a promotion. Sales prom otions are thus also seen as a tool for breaking down loyalty to other products. Sales promotions also let manufacturers adjust to short term changes in supply and demand and differences in customer segments. They also let manufacturers to experiment by varying prices. Sales promotions also lead to greater consumer awa reness of prices. 23 To use sales promotion, a company must set objectives, select the right tools, d evelop the best program and implement it and evaluate the results. Objectives of Sales Promotion The specific objectives set for sales promotions will vary with the type of the target market. For consumer promotions, objectives include encouraging purchasin g of larger sized units, building trial among non-users and attracting switchers away from the competitors brands. For trade promotions, objectives may include; including retailers to carry new items and higher level of inventory, encouragin g off-seasonal buying, of-setting competitive promotions, building brand loyalty of retailers and gaining entry into new retail outlets. The sales force promoti ons help in encouraging support of a new product or model, encouraging more pros pecting and stimulating off-seasonal sales. But most importantly, sales promotio n should be focused on consumer relationship building. Sales Promotion Tools Many tools can be used to accomplish sales promotion objectives. Descriptions of the main promotional tools are as follows; Consumer Promotion Tools 24 The main consumer promotion tools are as follows; Samples: They are offers of a trial amount of a product. It consists of inviting prospective purchasers to try the product without cost or at a lower cost in the hope that they will buy the product. Samples may be free or discounted. Coupons: Coupons are certificates th at give buyers a saving when they purchase a specified product. Coupons can be m ailed, placed in advertisements or included with other products. Rebates: Rebate is also known as cash refund offers. Rebates are offers to refund part of the p urchase price of a product to its customers who send a proof of purchase to the manufacturer. These are like coupons except that the price reduction occurs afte r the purchase and not at the point of sale. Price Packs: Cents-off deals or price packs offer consumers savings by way of re ducing prices that are marked by the producer directly on the package. 25 Premiums: These are the goods offered either free or at a low cost as an incenti ve to buy a product. Premiums may be in-pack or on-pack (outside the pack). Priz es: They are offers of chance to win something such as cash, trips or goods by l uck or through extra efforts. Contests of talent and sweepstakes or draws the mo st popular prize offering promotions. Tie-in Promotions: Tie-in promotions invol ve two or more brands or companies that team up on coupons, refunds or contests to increase their pulling powers. Cross Promotions: Cross promotions involve using one brand to advertise non-comp eting brand. Advertising Specialties: These are useful articles imprinted with an advertisers name, given as gifts to consumers. Patronage Rewards: They are cash or other awa rds for the regular use of companys products or services. They are values (in cas h otherwise) that are proportional to ones 26 patronage of a certain vendor or a group of vendors. They aim at building brand loyalty. PoP Promotions: Point of purchase (PoP) includes displays and demonstrations tha t take place at the point of purchase or sale. Trade Promotion Tools More money is spent by companies on trade promotion (58%) than on consumer promo tions (42%). The major trade promotion tools are as follows; Discounts: It is also known as price-off or off-invoice or off-list. Discounts p rice cut off the list price on a particular quantity purchased during a stated t ime. Allowances: They are the amount offered in return for an agreement by the r etailer to feature the manufacturers products in some way; displays, advertising or otherwise. Free Goods: 27 Free goods are the extra merchandise offered to middlemen who buy a specific amo unt of a product. Companies also offer push money and specialty advertising item s to the middlemen. Business Promotion Tools Companies spend huge amount on promotions focused on industrial consumers. The m ajor business promotion tools are as follows; Trade Shows and Conventions. Sales Contests. Clearly, sales promotions play an important role in the total promotion mix. To use it well, the marketer must define the sales promotion objectives, select the best tools, design the sales promotion program, pretest and implement the progr am and evaluate its results. 28 RESEARCH METHODOLOGY RESEARCH DESIGN In my project I have used various tools of Exploratory Research. This research will be done to gain background information of the problem. An in itial research will be conducted to clarify and define the nature of the problem . The various tools used are experience surveys, in depth interviews, secondary data analysis. Descriptive research was done where questionnaires were given to the retailers and the wholesalers to find out the competition in HUL skin catego ry. QUESTIONNAIRE DESIGN The questionnaire consists of predominantly closed ende d and option based question in order to provide some ease to the respondents. In order to make the questionnaire more effective following points are covered: Un iformity in questions and ease of tabulation and analysis. Reduce subjectivity E asier to receive response Less time consuming. The questions tried to cover all aspects required to analyze the skin category of HUL and other competitive brand s. The various variables are analyzed in the questions. SAMPLING METHODOLOGY SAMPLE PLAN 29 The project was conducted for the geographical region of Bilaspur. The sample co nsists of both the retailers and wholesalers of the general trade. DATA COLLECTION The data collection exercise was carried over a period of 15 day s, in the various markets of the region. Over the period of 15 days the data was collected and then all the data was very carefully studied and the results were found out. Marketing research means the systematic gathering, recording, analyzi ng of data about problems relating to the marketing of goods and services Marketi ng research has proved an essential tool to make all the need of marketing manag ement. Marketing research therefore is the scientific process of gathering and a nalyzing of marketing information to meet the needs of marketing management. But gathering of observation is must be systematic. The systematic conduct of resea rch requires: Orderliness, in which the measurements are accurate. Impartiality in analysis and interpretation. All of research can be categorized into basic and applied. 1. BASIC RESEARCH: - Basic Research is that intended to expand the body of knowledge for the use of o thers. 2. APPLIED RESEARCH: - Applied Research is one, which is carried out to f ind the solution for a particular problem or for guiding a specific decision. It is usually private in nature. My research on Vodafone is carried on for guiding specific decisions and its results are useful only to Vodafone for taking parti cular decision regarding product quality, staff and security. Hence the nature o f my research study is APPLIED RESEARCH . 30 Research Approach Data collection methods a) Secondary Research External secondary data has been generated to obtain volume of sales regarding b everage markets, fruit drinks, each of the brands and the positioning of each of the brands. b) Survey Research Data was collected from candidates using questionnaire. The questionnaire was di stributed in colleges and people on the street. I distributed the questionnaires outside the shops to gather data from people who had come to visit there. I mad e an online questionnaire and circulated on the internet and gathered results fr om those. Measurement Instruments: The measurement instrument in the questionnaire was a five point Likert scale. A part from details regarding their choice of drink for refreshment, their frequen cy of visits and the channels they choose, their spending patterns will also be mapped. The data was extracted and put in MS Excel. All the further analysis was then carried out using SPSS. The measurement was designed to get a fair idea ab out the various attributes and conducted factorial analysis of the important att ributes. Samples The aim was to collect 100 samples for the analysis. The samples should be such that they are consumers of fruit drinks. I also tried to get an adequate ratio 31 of men and women in the samples. The main demographics targeted were the younger age group as they are more health conscious and aware of such health drinks. Al so I tried to focus more on the college going crowd and young professionals as t hey would be more interested in trying out new products and were more conscious. Buyers who have been consuming fruit drinks were better able to answer the ques tions regarding the influencing factors and the reasons for their consumption an d purchase. The samples collected from internet have also been very valuable in the research. Analysis Techniques The analysis techniques used have been on SPSS and the tests were performed to a scertain the factors influencing the consumer decision while buying fruit drinks . Factor analysis was conducted to discern out of the 13 factors mainly which fa ctors influence the buying habits of the consumers. Ultimately I identified 5 fa ctors which mainly have an influence. I also conducted correlation tests to find out the various reasons for purchasing any particular brand of fruit drink. SOU RCES OF DATA Primary Data Secondary Data Questionnaire Observation Interviews Visits to other Companies Information Throu gh Departmental heads Newsletter Journals Magazines Newspapers Books Websites 32 Limitations: The main limitation is the sampling conducted. It was done in a random manner an d no particular technique followed. In the first survey a greater number of coll ege students have been surveyed. The data might not be representative of the ent ire population. Various statistical techniques as learned have been implemented and conclusions as best possible have been drawn making few assumptions as and w hen required. Since no data was on interval or ratio scale it was not feasible t o conduct Regression and ANOVA. Limitations of the Study Every study is bound by limitations and as such this is no exceptions. 1. Change is Constant rule of nature. Hence, the study undertaken may not hold good for lon ger duration. 2. The study was conducted under the assumption that the informati on given by the respondents is authentic. 3. The analysis and suggestion are giv en only with respect to marketing aspects as technical suggestion with respect t o the product could not be given. 4. Confidential matters were not disclosed by the company. 33 5. There were time constraints. SUMMARY OF FINDINGS AND CONCLISION A Summary of Findings: The finding can be grouped together into two broad categories such as; Specific Findings : This is pertaining to the objectives of the study. General Findings : This is with regard to the market dynamics and visits made by the researcher to companies having almost similar products profile. Specific Findings: 1. The company adopts a variety of promotional methods such as paper insertion, telemarketing, display stalls, participating in exhibitions, direct mail, presen tations and showrooms. 2. Every player is vying with each other to capture a lar ger pie in the markets. 3. Transparency is maintained at the levels of the organ ization. 34 4. The activities carried out by each and every department of the organization i s systematic. General Findings: 1. Foreign companies can invest up to 100% in most of the manufacturing industri es in India, including furniture. 2. With the vast array of modular option avail able in market, the consumer isnt really strapped for choice. 3. In a nutshell, t his means to say that the competition is very intense. 4. Many branded companies outsource the products because of which the delivery time of the product ordere d is stretched. 5. HUL offers a wide range of products. This gives it an edge ov er the others. 6. Quality never comes cheap. This is true but at the same time, it is also true that quality can come at a reasonable price. With regard to the qu ality, products of HUL are at par with the other players having brand names and at the same time the products are reasonable priced. 7. Majority of the marketin g executives are male. 8. The prices of the products are reasonable though they are competitive. 9. The products are of good quality and are at par with other c ompetitors having brand names. 35 10. Reasonable pricing, customized products, quality and finishing contributes i n differentiating the products of the organization from that of the others. 36 Data Analysis 37 Data Analysis Type of Respondent Cumulative Percent 19.2 85.9 100.0 Frequency Valid Retailer Wholesellr Total 19 66 14 99 Percent 19.2 66.7 14.1 100.0 Valid Percent 19.2 66.7 14.1 100.0 38 Deals in HUL Products Frequency Valid Yes Total 19 80 99 Percent 19.2 80.8 100.0 Valid Percent 19.2 80.8 100.0 Cumulative Percent 19.2 100.0 39 Personal Care Frequency Valid yes Total 19 80 99 Percent 19.2 80.8 100.0 Valid P ercent 19.2 80.8 100.0 Cumulative Percent 19.2 100.0 40 Confectionery Frequency Valid No yes Total 19 14 66 99 Percent 19.2 14.1 66.7 10 0.0 Valid Percent 19.2 14.1 66.7 100.0 Cumulative Percent 19.2 33.3 100.0 41 Dental Care Frequency Valid No yes Total 19 8 72 99 Percent 19.2 8.1 72.7 100.0 Valid Percent 19.2 8.1 72.7 100.0 Cumulative Percent 19.2 27.3 100.0 42 Detergent and Soaps Cumulative Percent 19.2 32.3 100.0 Frequency Valid No Yes Total 19 13 67 99 Percent 19.2 13.1 67.7 100.0 Valid Percent 19.2 13.1 67.7 100.0 43 Visits of Agents per week Frequency Valid 1 2 3 Total Missing System Total 9 34 37 80 19 99 Percent 9.1 34.3 37.4 80.8 19.2 100.0 Valid Percent 11.3 42.5 46.3 100.0 Cumulative Percent 11.3 53.8 100.0 44 Orders Placed Per Month Frequency Valid 1 2 3 4 5 6 9 Total Missing System Total 1 9 20 24 22 3 1 80 19 99 Percent 1.0 9.1 20.2 24.2 22.2 3.0 1.0 80.8 19.2 100. 0 Valid Percent 1.3 11.3 25.0 30.0 27.5 3.8 1.3 100.0 Cumulative Percent 1.3 12. 5 37.5 67.5 95.0 98.8 100.0 45 Quantity in Single Purchase ( '000) Frequency Valid 5 6 8 25 30 40 50 Total Miss ing System Total 34 14 18 4 8 1 1 80 19 99 Percent 34.3 14.1 18.2 4.0 8.1 1.0 1. 0 80.8 19.2 100.0 Valid Percent 42.5 17.5 22.5 5.0 10.0 1.3 1.3 100.0 Cumulative Percent 42.5 60.0 82.5 87.5 97.5 98.8 100.0 46 Most Difficult to Sold Frequency Valid Dental Care Total 19 80 99 Percent 19.2 8 0.8 100.0 Valid Percent 19.2 80.8 100.0 Cumulative Percent 19.2 100.0 47 Easy to Sold Cumulative Percent 19.2 100.0 Frequency Valid Personal Care Total 19 80 99 Percent 19.2 80.8 100.0 Valid Percent 19.2 80.8 100.0 48 Incentive Frequency Valid Cash Discounts Free Gifts Trade Discounts Total 19 10 14 56 99 Percent 19.2 10.1 14.1 56.6 100.0 Valid Percent 19.2 10.1 14.1 56.6 100 .0 Cumulative Percent 19.2 29.3 43.4 100.0 49 Attraction to Offers Frequenc y Percent Valid No Yes Total 19 13 67 99 19.2 13.1 67.7 100.0 Valid Percent 19.2 13.1 67.7 100.0 Cumulative Percent 19.2 32.3 100. 0 50 Customer have knowledge of product Cumulative Percent 19.2 52.5 100.0 Frequency Valid No Yes Total 19 33 47 99 Percent 19.2 33.3 47.5 100.0 Valid Percent 19.2 33.3 47.5 100.0 51 customer have knowledge of Company Frequency Valid No Yes Total 19 50 30 99 Perc ent 19.2 50.5 30.3 100.0 Valid Percent 19.2 50.5 30.3 100.0 Cumulative Percent 1 9.2 69.7 100.0 52 Customers Attracted by Offers Cumulative Percent 19.2 31.3 100.0 Frequency Valid No Yes Total 19 12 68 99 Percent 19.2 12.1 68.7 100.0 Valid Percent 19.2 12.1 68.7 100.0 53 P&G Cumulative Percent 19.2 69.7 100.0 Frequency Valid no yes Total 19 50 30 99 Percent 19.2 50.5 30.3 100.0 Valid Percent 19.2 50.5 30.3 100.0 54 ITC Cumulative Percent 19.2 60.6 100.0 Frequency Valid no yes Total 19 41 39 99 Percent 19.2 41.4 39.4 100.0 Valid Percent 19.2 41.4 39.4 100.0 55 Others Cumulative Percent 19.2 100.0 Frequency Valid yes Total 19 80 99 Percent 19.2 80.8 100.0 Valid Percent 19.2 80.8 100.0 56 Chi Square Analysis 57 Visits of Agents per week * Orders Placed Per Month Analysis Table Orders Placed Per Month 1 Visits of Agents per week 1 Observed Ex pected 1 .1 2 0 1.0 .0% 1 3.8 11.1% 8 4.2 88.9% 9 9.0 100.0% 3 6 2.3 30.0% 14 8. 5 70.0% 0 9.3 .0% 20 20.0 100.0% % within Orders Placed 100.0% Per Month 2 Observed Expected % within Orders Plac ed Per Month 3 Observed Expected % within Orders Placed Per Month Total Observed Expected 0 .4 .0% 0 .5 .0% 1 1.0 % within Orders Placed 100.0% Per Month 58 Analysis Table Orders Placed Per Month 4 Visits of Agents per week 1 Observed Ex pected % within Orders Placed Per Month 2 Observed Expected % within Orders Plac ed Per Month 3 Observed Expected % within Orders Placed Per Month Total Observed Expected % within Orders Placed Per Month 1 2.7 4.2% 15 10.2 62.5% 8 11.1 33.3% 24 24.0 100.0% 5 0 2.5 .0% 3 9.4 13.6% 19 10.2 86.4% 22 22.0 100.0% 6 1 .3 33.3 % 0 1.3 .0% 2 1.4 66.7% 3 3.0 100.0% 59 Analysis Table Orders Placed Per Month 9 Visits of Agents per week 1 Observed Ex pected % within Orders Placed Per Month 2 Observed Expected % within Orders Plac ed Per Month 3 Observed Expected % within Orders Placed Per Month Total Observed Expected % within Orders Placed Per Month 0 .1 .0% 1 .4 100.0% 0 .5 .0% 1 1.0 1 00.0% Total 9 9.0 11.3% 34 34.0 42.5% 37 37.0 46.3% 80 80.0 100.0% 60 Chi-Square Tests Value Pearson Chi-Square Likelihood Ratio Linear-by-Linear Asso ciation N of Valid Cases 56.420a 64.482 4.999 80 df 12 12 1 Asymp. Sig. (2sided) .000 .000 .025 a. 15 cells (71.4%) have expected count less than 5. The minimum expected count is .11. 61 Visits of Agents per week * Quantity in Single Purchase ( '000) Analysis Table Quantity in Single Purchase ( '000) 5 Visits of Agents per week 1 Observed Expected % within Quantity in Single Purchase ( '000) 2 Observed Expec ted % within Quantity in Single Purchase ( '000) 3 Observed Expected % within Qu antity in Single Purchase ( '000) Total Observed Expected % within Quantity in S ingle Purchase ( '000) 6 3.8 17.6% 23 14.5 67.6% 5 15.7 14.7% 34 34.0 6 0 1.6 .0 % 0 6.0 .0% 14 6.5 8 0 2.0 .0% 0 7.6 .0% 18 8.3 100.0% 100.0% 14 14.0 18 18.0 100.0% 100.0% 100.0% 62 Analysis Table Quantity in Single Purchase ( '000) 25 Visits of Agents per week 1 Observed Expected % within Quantity in Single Purchase ( '000) 2 Observed Expe cted % within Quantity in Single Purchase ( '000) 3 Observed Expected % within Q uantity in Single Purchase ( '000) Total Observed Expected % within Quantity in Single Purchase ( '000) 1 .5 25.0% 3 1.7 75.0% 0 1.9 .0% 4 4.0 100.0% 30 1 .9 12 .5% 7 3.4 87.5% 0 3.7 .0% 8 8.0 100.0% 40 0 .1 .0% 1 .4 100.0% 0 .5 .0% 1 1.0 10 0.0% 63 Analysis Table Quantity in Single Purchase ( '000) 50 Visits of Agents per week 1 Observed Expected % within Quantity in Single Purchase ( '000) 2 Observed Expe cted % within Quantity in Single Purchase ( '000) 3 Observed Expected % within Q uantity in Single Purchase ( '000) Total Observed Expected % within Quantity in Single Purchase ( '000) 1 .1 100.0% 0 .4 .0% 0 .5 .0% 1 1.0 100.0% Total 9 9.0 1 1.3% 34 34.0 42.5% 37 37.0 46.3% 80 80.0 100.0% 64 Chi-Square Tests Asymp. Sig. (2sided) .000 .000 .003 Value Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Vali d Cases 71.081a 86.082 8.850 80 df 12 12 1 a. 15 cells (71.4%) have expected count less than 5. The minimum expected count is .11. 65 Incentive * Orders Placed Per Month Analysis Table Orders Placed Per Month 1 Incentive Cash Discounts Observed Expec ted % within Orders Placed Per Month Free Gifts Observed Expected % within Order s Placed Per Month Trade Discounts Observed Expected % within Orders Placed Per Month Total Observed Expected % within Orders Placed Per Month 0 .1 .0% 0 .2 .0% 1 .7 100.0% 1 1.0 100.0% 2 0 1.1 .0% 8 1.6 88.9% 1 6.3 11.1% 9 9.0 100.0% 3 8 2 .5 40.0% 0 3.5 .0% 12 14.0 60.0% 20 20.0 100.0% 66 Analysis Table Orders Placed Per Month 4 Incentive Cash Discounts Observed Expec ted % within Orders Placed Per Month Free Gifts Observed Expected % within Order s Placed Per Month Trade Discounts Observed Expected % within Orders Placed Per Month Total Observed Expected % within Orders Placed Per Month 2 3.0 8.3% 0 4.2 .0% 22 16.8 91.7% 24 24.0 100.0% 5 0 2.8 .0% 4 3.8 18.2% 18 15.4 81.8% 22 22.0 1 00.0% 6 0 .4 .0% 2 .5 66.7% 1 2.1 33.3% 3 3.0 100.0% 67 Analysis Table Orders Placed Per Month 9 Incentive Cash Discounts Observed Expec ted % within Orders Placed Per Month Free Gifts Observed Expected % within Order s Placed Per Month Trade Discounts Observed Expected % within Orders Placed Per Month Total Observed Expected % within Orders Placed Per Month 0 .1 .0% 0 .2 .0% 1 .7 100.0% 1 1.0 100.0% Total 10 10.0 12.5% 14 14.0 17.5% 56 56.0 70.0% 80 80. 0 100.0% 68 Chi-Square Tests Value Pearson Chi-Square Likelihood Ratio N of Valid Cases 62.969a 58.691 80 df 12 12 Asymp. Sig. (2-sided) .000 .000 a. 17 cells (81.0%) have expected count less than 5. The minimum expected count is .13. 69 Incentive * Quantity in Single Purchase ( '000) Analysis Table Quantity in Single Purchase ( '000) 5 Incentive Cash Discounts Ob served Expected % within Quantity in Single Purchase ( '000) Free Gifts Observed Expected % within Quantity in Single Purchase ( '000) Trade Discounts Observed Expected % within Quantity in Single Purchase ( '000) Total Observed Expected % within Quantity in Single Purchase ( '000) 10 4.3 29.4% 0 5.9 .0% 24 23.8 70.6% 34 34.0 100.0% 6 0 1.8 .0% 14 2.4 100.0% 0 9.8 .0% 14 14.0 100.0% 8 0 2.3 .0% 0 3.2 .0% 18 12.6 100.0% 18 18.0 100.0% 70 Analysis Table Quantity in Single Purchase ( '000) 25 Incentive Cash Discounts O bserved Expected % within Quantity in Single Purchase ( '000) Free Gifts Observe d Expected % within Quantity in Single Purchase ( '000) Trade Discounts Observed Expected % within Quantity in Single Purchase ( '000) Total Observed Expected % within Quantity in Single Purchase ( '000) 0 .5 .0% 0 .7 .0% 4 2.8 100.0% 4 4.0 100.0% 30 0 1.0 .0% 0 1.4 .0% 8 5.6 100.0% 8 8.0 100.0% 40 0 .1 .0% 0 .2 .0% 1 .7 100.0% 1 1.0 100.0% 71 Analysis Table Quantity in Single Purchase ( '000) 50 Incentive Cash Discounts O bserved Expected % within Quantity in Single Purchase ( '000) Free Gifts Observe d Expected % within Quantity in Single Purchase ( '000) Trade Discounts Observed Expected % within Quantity in Single Purchase ( '000) Total Observed Expected % within Quantity in Single Purchase ( '000) 0 .1 .0% 0 .2 .0% 1 .7 100.0% 1 1.0 100.0% Total 10 10.0 12.5% 14 14.0 17.5% 56 56.0 70.0% 80 80.0 100.0% 72 Chi-Square Tests Value Pearson Chi-Square Likelihood Ratio N of Valid Cases 93.4 45a 89.145 80 df 12 12 Asymp. Sig. (2-sided) .000 .000 a. 16 cells (76.2%) have expected count less than 5. The minimum expected count is .13. 73 RECOMMENDATIONS AND SUGGESTIONS This report lists the various recommendations and suggestions with respect to th e findings and in congruence with the objectives of the study. Recommendations: 1. Its overwhelming to find out that the organization works in a systematic manner. A blend of co-ordination will definitely enhance the perform ance of the company. 2. Quality clubbed with reasonable pricing and quick delivery made the product o f the company stand apart. The marketing campaign should focus on this aspect an d made according to its line. 3. The strength of the company is its customized products. This very fact must b e highlighted in the marketing campaign. 4. As the products are reasonably priced, the ambit of the target consumers shou ld be stretched so that middle class consumers also fit into it. 74 5. The company must stick to a norm while giving discounts on repeat purchase. T his will certainly help in sales promotion in order to create repeat purchase. 6. In order to have a rapid market access, the company can include dealers, if n ot retailers at the moment. 7. The company can introduce some reward schemes so that a person is benefited a fter the fulfillment and over achievement of the target. This is predominantly d one to motivate the sales force and enhance their performance. 8. Other than emphasis on design, craftsmanship and product quality, the companys unique strength also lies in its capability as a fully integrated furniture man ufacturer. This fact should be highlighted during the advertisement campaigns. 9. The need of the hour is aggressive marketing. 75 Suggestions: 1. Everyone is aware of the growth in wealth and change in lifestyle among Banga lores novae riche. So the marketing campaign should be designed to woo the custom ers. 2. The company should explore all possible ways in order to aggressively sell it s products. 3. In todays crowed market place in order to increase the size of the pie, the Co mpany can adopt innovative promotional strategies. It will help in creating and reinforcing the Companys identity in the minds of the consumer. 4. In order to be extra ordinary, the Company has to walk the extra mile. A meth od named Experimental Marketing can be adopted by the Company wherein the prospect ive consumers can be invited to visit the showroom and touch and feel the produc ts. 5. Since the competition is intense, so there should be some value addition so a s to make the Company stand apart in the market. One such way is to improvise th e customer service. 76 6. Consumer is the king in the market. This fact should be deeply rooted in the minds of the employees. The Company can adopt some ways to listen to the custome rs feedback which should be noted in writing so that it will help in continual im provement and make the company to be in the right track always. Moreover, a sens e of involvement will be felt by the customers whish can give the company a cutt ing edge. BIBLIOGRAPHY Name Of Book year Name Of Author Edition & Marketing Management Edition, 1992 Paramhans Foundation Fourth Research Methodology Edition, 1993 C.R.Kothari Second Marketing Management Edition, 1999 Philip Kotler Twelth Fundamentals of Statistics Edition, 1992 D.N. Elhance Present 77 REFRENCES 1) 2) 3) www.google.com www.hulindia.com www.bing.com QUESTIONNAIRES 1. Do You Deal in FMCG Products of HUL. o Yes 2. Which Products of HUL Do You De al In. o o o o Staple Confectionery Packed Food Biscuits o No 3. How frequent the agents of HUL Visit You o More than once a o Once a fortnigh t week o Once a month o Once a week 4. How many orders you place a month ? ..... ......................................................................... 5. How much quantity is there in single purchase? .................................... ................................................ 6. Which Product you find most difficult to sell? ............................................................. ................. 7. Which Product you find most easily sold? .................. ............................................................ 78 8. How much margin do you get on the HUL Products? Snacks Staple Confectionery P acked Food Biscuits .......................................... ................. ......................... .......................................... ........... ............................... .......................................... 9. Is there additional incentive for promotion of HUL product? If Yes Specify th e Type of Incentive ............................................................ .............................. 10.What is the Selling Technique adopted by the H UL? ............................................................................ ............ 11.What type of promotional offers you get from HUL? .............. ........................................................................... 12.D o you get attracted by such offers? ............................................ .............................................. 13.What type of promotional offer s is there for the final customers? ............................................ .............................................. 14.Dose the customer have knowled ge of the product? ............................................................. ............................... 15.Dose the customer have knowledge of the Compa ny? 16.Are the customers attracted by the adds. o Yes o No 17.Which other FMCG Companys Product You Deal in? HUL Any Other ................. .. P &G None 79 18.Which Companys Products are demanded the most by the customers? .............. ........................................................................... 19.W hat is the difference between that company and HUL promotion techniques. ....... ................................................................................ ......................................... ...................................... ............................ 20.Are you satisfied with the approach of the HUL if Not Give your Suggestions . ................................................................................ .......................................... ..................................... ................................................................................ ...... ......................................................................... .................................................. ............................. ................................................................................ .............. ................................................................. .......................................................... ..................... ................................................................................ ...... 80