Analysis and market share expansion strategy for ice cream in Bhavnagar town

Abstract

The study aims to bridge this gap by conducting a study on “Analysis and Market Share Expansion Strategy for Ice Cream in Bhavnagar Town.” The study was conducted by using primary data collected from 110 consumers and 80 retailers through a structured questionnaire method. Statistical methods like percentage, averages, and Garrett ranking method were used to analyze the primary data to derive more meaningful insights from it. The study concluded that the majority of the population consuming ice cream is males (69.1%), and the majority of the population falls in the 20-34 years age group. Students and self-employed people comprise a larger percentage of the population. A high percentage of the population consumes ice cream, i.e., 93.6%. The majority of the population consumes ice cream on a weekly basis (50.5%), and students and self-employed people comprise a larger percentage of the population. Coming to brand preference, it is clearly seen that Amul is the favorite brand for people, as 61.17% of the people prefer Amul brand over other brands like Havmor, Vadilal, and Hocco. The preference for cup-shaped ice cream is very high among people, at 76.7%, which indicates an increased demand for such products. The study also points out that Promotion and price are major factors for consumers, whereas new flavors and contents of products are relatively less important. With regard to retailers, it is clear that Amul has the maximum market share of 60%, followed by Havmor, Vadilal, and Hocco. The majority of sales occur through general stores, at 62.5%, followed by street vendors, whereas 56.3% of retailers are not satisfied with profit margins. The study concluded that to improve market share, companies should lay more emphasis on better price, better distribution networks, and better promotional strategies. The importance of consumer preferences and retailer satisfaction is also very high, which can improve the performance of the ice-cream industry.