Process Costing at Parle-G Company
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Hemant AherProcess Costing at Parle-G Company
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Hemant Aher- Introduction
- Statement of Research Problem
- Importance of Research Study
- Objective of the Study
- Hypothesis
- Review of Literature
- Scope of the Study
- Limitation of the Study
- Need for the Study
- Research Methodology
- Source of Data Collection
- Bibliography
- Conclusion
Common questions
Powered by AIConsumer perception of Parle-G as a nutritious and affordable snack has been central to its branding strategy. Initially, the brand capitalized on its reputation for quality and affordability, features that have continued to define consumer perception. Though competition increased, the brand’s iconic status and nostalgia associated with its packaging have helped maintain its consumer base. Over the years, Parle-G has managed the brand perception through consistent product delivery and marketing, emphasizing its traditional value and widespread availability .
Parle-G has managed to retain 75-80% of the glucose biscuit market primarily because of its strong brand reputation, product consistency, and affordability. Its iconic packaging and longstanding presence in the market have made it a household name. Parle-G biscuits offer 450 calories per pack, which makes them a popular choice for a nutritious snack, thereby strengthening consumer loyalty .
Parle-G's packaging, notably its iconic wax paper in white and yellow, has become synonymous with the brand, aiding immediate recognition and consistency. Its promotions have often focused on the biscuit's nostalgic appeal and nutritious value, helping sustain its popularity across generations. Marketing has been tailored to reinforce its identity as a staple snack, which has contributed to its enduring legacy and continued consumer loyalty .
Parle-G's consistent pricing at ₹4 for over 25 years has been pivotal in maintaining its market competitiveness. This consistency ensures affordability and cements its position as a go-to option for consumers across various socio-economic backgrounds. The pricing strategy underscores Parle-G's image as a value-focused brand, which is a critical factor in its ability to capture and retain a significant market share in a competitive industry .
Social and familial influences significantly impact consumer preferences for Parle-G. The brand has established itself as a staple in family settings, often being introduced to younger generations through family members and peers. Siblings and elders in the family play a crucial role in influencing consumption patterns, demonstrating the strong cultural role that Parle-G has as a traditional household name. Word-of-mouth within these social settings further reinforces consumer preference .
The research methodology primarily relied on secondary data, gathering information from company websites, industry reports, and literature reviews. Despite a systematic approach, the study faced limitations such as a small sample size due to time constraints and limited data sources. The reliance on existing secondary data rather than fresh primary data collection posed limitations on the depth of insights .
The introduction of other biscuit brands such as Monaco, Krack-Jack, and Hide n Seek diversified Parle's portfolio, allowing the company to target different consumer preferences and segments. However, Parle-G remains the flagship brand due to its historical significance and market dominance in the glucose biscuit segment. The diversification has not diminished Parle-G's importance but rather complemented it by broadening the market reach .
Parle-G's success in its early years can be attributed to the timing of its entry into the biscuit market in 1939, during the British colonial period when imported brands dominated. Despite competition from international brands, Parle Products leveraged its reputation for quality, initially established with its confections, to gain consumer trust. The introduction of Parle Glucose biscuits, which were priced competitively and offered in recognizable packaging, further solidified its market position .
Parle-G has maintained a low price point, holding the price at ₹4 for over 25 years, which makes it accessible to a broad consumer base, including lower-income segments. This pricing strategy has contributed significantly to its perception as an affordable, value-for-money brand, crucial for its sustained market leadership in a price-sensitive market like India .
Parle-G faced challenges such as increased competition, poor brand management, and internal conflicts among owners. To address these, the company has maintained a strong focus on quality and affordability, ensuring its product remains competitive in price-sensitive markets. They leveraged their long-established brand equity and continued to rely on iconic packaging and consistent product quality to sustain consumer loyalty .
