MARKETING

&
BUSINESS
STRATEGY
OF
ITC LTD

Marketing & Business Strategy of ITC Ltd.Page 1

Project Report
(Submitted

for the Degree of B.Com. Honours in Accounting & Finance under the
University of Calcutta)

Submitted by
Name of the Candidate :
Registration No.
Name of the College:
College Roll No.

Supervised by
Name of the Supervisor:
Name of the College:

March - 2014
Marketing & Business Strategy of ITC Ltd.Page 2

Annexure- IA
Supervisor's Certificate
This is to certify that Ms. Shreyoshi Roy a student of B.Com. Honours in
Accounting & Finance / Marketing / Taxation / Computer Applications in Business
of Shri Shikshayatan College under the University of Calcutta has worked under
my supervision and guidance for his/her Project Work and prepared a Project Report
with the title Marketing and business strategy of ITC ltd which he/she is
submitting, is his/her genuine and original work to the best of my knowledge.

Signature
Place:

Name:

Date:

Designation:
Name of the College

Marketing & Business Strategy of ITC Ltd.Page 3

Student's Declaration
I hereby declare that the Project Work with the title (in block letters ) MARKETING
AND BUSINESS STRATEGY OF ITC LTD submitted by me for the partial
fulfilment of the degree of B.Com. Honours in Accounting & Finance / Marketing /
Taxation / Computer Applications in Business under the University of Calcutta is my
original work and has not been submitted earlier to any other University /Institution for
the fulfilment of the requirement for any course of study.
I also declare that no chapter of this manuscript in whole or in part has been incorporated
in this report from any earlier work done by others or by me. However, extracts of any
literature which has been used for this report has been duly acknowledged providing
details of such literature in the references.

Signature
Name:
Address:

Registration No:

Place:
Date:

Marketing & Business Strategy of ITC Ltd.Page 4

ACKNOWLEDGEMENT
I extend my sincere gratitude to

, our Project guide,

for the successful completion of the project. This project has given me
more confidence about the subject and various concepts of Consumer
Behaviour . My sincerest gratitude also extends to the teacher, who has
taken a keen interest in my project from time to time, and encouraged me
to perform to the best of my ability. I am also thankful to my faculty
members for their support and help for completion of the project. Thank
you all for your time and guidance in helping me achieve my goal
of completing this project to the best of my ability.

Marketing & Business Strategy of ITC Ltd.Page 5

Preface
This topic has been chosen to study the Marketing & Business strategy of
ITC Ltd. There are certain prospective on which a company sells their
products in to the market and diversifies their business. This project has
been a great learning experience for me; at the same time it gave me
enough scope to implement my analytical ability. Full project gives an
insight about the strategies and its various aspects. It is purely based on
whatever there searcher learned at EMPI Business School. All the topics
have been covered in a very systematic way. The language has been kept
simple so that even a layman could understand. The whole theoretical part
is covered with relation to the product. It helped to understand the various
concepts of marketing. The various theories like learning, perception,
attitude, motivation, and personality are fully studied in the project.

Marketing & Business Strategy of ITC Ltd.Page 6

TABLE OF CONTENTS
Chapter no
1.
1.1

TOPIC

PAGE NO

1.2
1.3
1.4
1.5
1.6

INTRODUCTION TO THE PROJECT

Background of the study
Literature Review
Objective of the study
Methodology
Limitation of the study
Chapter planning

2
2.1
2.2
2.3

CONCEPT FRAMEWORK
Concept
International Importance of itc ltd.
Challenges faced by itc ltd

13-23

3.
3.1
3.2
3.2.1
3.2.2
3.2.3
3.3

ANALYSIS AND FINDINGS

Research Design
Methodology
Data type
Period of study
Tools used
Final analysis

24-33

4.
4.1
4.2
4.3

CONCLUSIONS AND RECOMMENDATIONS

Summary And Observations
Suggestions And Reccomendations For Improvement
Limitations Of Research

34-37

5.

BIBLIOGRAPHY

Marketing & Business Strategy of ITC Ltd.Page 7

08-12

38

1. Introduction
ITC India Limited
Type Public (BSE:ITC)
Founded August 24, 1910
Radha Bazar Lane, Kolkata, India
Headquarters Virginia House, Kolkata, India
Key people Y C Deveshwar, ChairmanK Vaidyanath,
Director, CFO: Partho Chatterjee
Industry Tobacco, Foods, Hotels
Products Cigarettes, Packaged Food, Hotels, Apparel
ITC is one of India's foremost private sectors companies with a market capitalization of
nearly US $ 15 billion and a turnover of over US $ 4.75 billion. ITC is rated among the
worlds best big companies, Asias Fab 50 and the World's most Reputable Companies by
Forbes magazine, among India's Most Respected Companies by Business World and among
India's Most Valuable Companies by Business Today. ITC also ranks among India's top10 `Most
Valuable (Company) Brands', in a study conducted by Brand Finance and published by the Economic
Times.
ITC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty Papers,
Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology,
Branded Apparel, Greeting Cards, Safety Matches and other FMCG products. While ITC is
an outstanding market leader in its traditional businesses of Cigarettes, Hotels, Paperboards,
Packaging and Agri-Exports, it is rapidly gaining market share even in itsnascent businesses
of Packaged Foods & Confectionery, Branded Apparel and Greeting Card.
ITC believes that its aspiration to create enduring value for the nation provides the motive
force to sustain growing shareholder value.

ITC

practices this philosophy by not only

driving each of its businesses towards international competitiveness but by also consciously
contributing to enhancing the competitiveness of the larger value chain of which it is a part
.
Marketing & Business Strategy of ITC Ltd.Page 8

ITCs diversified status originates from its corporate strategy aimed at creating multiple
drivers of growth anchored on its time-tested core competencies: unmatched distribution
reach, superior brand-building capabilities, effective supply chain management and
acknowledged service skills in hotelier. Over time, the strategic forays into new businesses
are expected to garner a significant share of these emerging high-growth markets in India.

1.1 BACKGROUND OF THE STUDY:

ITCs Agri-Business is one of India's largest exporters of agricultural products. ITC is one of
the country's biggest foreign exchange earners (US $ 2.8 billion in the last decade). The
Company's 'e-Choupal' initiative is enabling Indian agriculture significantly enhance its
competitiveness by empowering Indian farmers through the power of the Internet. This
transformational strategy, which has already become the subject matter of a case study at
Harvard Business School, is expected to progressively create for ITC a huge rural distribution
infrastructure, significantly enhancing the Company's marketing reach.
ITC's

wholly owned Information Technology subsidiary, ITC InfoTech India Limited, is

aggressively pursuing emerging opportunities in providing end-to-end IT solutions, including

e-enabled services and business process outsourcing.
ITC's production facilities and hotels have won numerous national and international awards
for quality, productivity, safety and environment management systems. ITC was the first
company in India to voluntarily seek a corporate governance rating.
The Company continuously endeavours to enhance its wealth generating capabilities in a
globalizing environment to consistently reward more than 3,95,000 shareholders, fulfill the
aspirations of its stakeholders and meet societal expectations. This over-arching vision of the
company is expressively captured in its corporate positioning statement.

Marketing & Business Strategy of ITC Ltd.Page 9

1.2 LITERATURE REVIEW

Narayan Sanjoy, editor of business today spoke about ITC that Blending diverse skills and
leveraging, Its distribution muscle, the tobacco gaint its unleashing a welter of new
businesses . An inside account of the silent revolution.
As one of India's most valuable and respected corporations, ITC is widely perceived to be
dedicatedly nation-oriented. Chairman Deveshwar Y C calls this source of inspiration " a
commitment beyond the market.

In his own words: " ITC believes that its aspiration to

create enduring value for the nation provides the motive force to sustain growing shareholder
value. ITC practices this philosophy by not only driving each of its businesses towards
international competitiveness but by also consciously contributing to enhancing the
competitiveness of the larger value chain of which is a part.

1.3 OBJECTIVE OF THE STUDY:

The primary objective of this study is to systematically explore the determinants responsible
for the competitive advantage of ITC Limited and how ITC developed new product lines in
its foods business drawing on its competencies in brand-building, R&D, packaging, and
distribution. The study shows that how from a single product ITC has diversified into many
product. The study shows how much ITC ltd is sucessful in its diversification strategy. It
show some recommendations that itc should follow in near future for its success. However,
market analysts were not sure whether ITC would achieve success in all the food categories
that it had enter.
Marketing & Business Strategy of ITC Ltd.Page 10

Main objectives of study are:

Why people are buying the products.
What all the things which influences them to buy
To understand how ITC has diversified themselves to a multi-product corporation
from a single product company

1.4 RESEARCH METHODOLOGY:

The researcher has used secondary data, magazines, internet, books, some market survey
using marketing tools like asking question through phone, etc

1.5 LIMITATION OF THE STUDY:

Skill set shortage

Maintaining high quality standards
Lack of talent pool
Unable to do primary research
Confidentiality.
Enhanced risk management
Time constraint

1.6 CHAPTER PLANNING

Conceptual overview based on national and international scenario.

Presentation of data.
Analysis of collected data.
Findings.
Conclusions and Recommendations.
Summary of Observations.

Marketing & Business Strategy of ITC Ltd.Page 11

2. CONCEPTUAL FRAMEWORK

2.1 CONCEPT
ITC in FMCG

Cigarettes
ITC is the market leader in cigarettes in India. With its wide range of invaluable brands, it has
a leadership position in every segment of the market. It's highly popular portfolio of brands
includes Insignia, India Kings, Classic, Gold Flake, Silk Cut, Navy Cut, Scissors, Capstan,
Berkeley, Bristol and Flake. The Company has enable to build on its leadership position
Marketing & Business Strategy of ITC Ltd.Page 12

because of its single minded focus on value creation for the consumer through significant
investments in product design, innovation, manufacturing technology, quality, marketing and
distribution. All initiatives are therefore worked upon with the intent to fortify market
standing in the long term. This in turns aids in designing products which are contemporary
and relevant to the changing attitudes and evolving socio economic profile of the country.
This strategic focus on the consumer has paid ITC handsome dividends.

Foods:
ITC made its entry into the branded & packaged Foods business in August 2001 with the
launch of the Kitchens of India brand. A more broad-based entry has been made since June
2002 with brand launches in the Confectionery, Staples and Snack Foods segments. The
Foods business is today represented in 4 categories in the market. These are:* Ready To Eat
Foods* Staples* Confectionery* Snack Foods In order to assure consumers of the highest
standards of food safety and hygiene, ITC Is engaged in assisting outsourced manufacturers
in implementing world-class hygiene standards through HACCP certification. The
unwavering commitment to internationally benchmarked quality standards enabled ITC to
rapidly gain market standing in all its 6 brands:* Kitchens of India * Aashirvaad* Sunfeast*
mint-o* Candyman* Bingo.
Marketing & Business Strategy of ITC Ltd.Page 13

 Lifestyle Retailing:
ITCs Lifestyle Retailing Business Division has established a nationwide retailing presence
through its Wills Lifestyle chain of exclusive specialty stores. Wills Lifestyle ,the fashion
destination, offers a tempting choice of Wills Classic work wear, Wills Sport relaxed wear,
Wills Club life evening wear, fashion accessories and Essenza Di Wills an exclusive range
of fine fragrances and bath & body care products and Fiama Di Wills - arange of premium
shampoos and shower gels. Wills Lifestyle has also introduced Wills Signature designer wear,
designed by the leading designers of the country.

Marketing & Business Strategy of ITC Ltd.Page 14

Wills Classic work wear was launched in November 2002, providing the premium consumer
a distinct product offering and a unique brand positioning.ITC forayed into the youth fashion
segment with the launch of John Players In December 2002 and John Players is committed to
be the No. 1 fashion brand for the youth.

Education & Stationary products:

ITC made its entry into the stationery business in 2002 with its premium range of notebooks,
followed in the year 2003 with the more popular range to augment its offering .ITC's
stationery Brands are marketed as "Classmate" and "Paperkraft", with Classmate addressing

the needs of school goers and Paperkraft targeted towards college students and executives

Agarbattis
As part of ITC's business strategy of creating multiple drivers of growth in the FMCG sector,
the Company commenced marketing Agarbattis (incense sticks) sourced from small-scale and
cottage units in 2003.

Marketing & Business Strategy of ITC Ltd.Page 15

 Hotels
ITC entered the hotels business in 1975 with the acquisition of a hotel in Chennai, which was
then rechristened ITC Chola. Since then the ITC-Welcome

group brand has become

synonymous with Indian hospitality. With over 90 hotels in 77 destinations.

Marketing & Business Strategy of ITC Ltd.Page 16

 Packaging
ITC's Packaging & Printing Business is the country's largest convertor of paper board into
packaging. It converts over 50,000 tonnes of paper and paperboard per annum into a variety
of value-added packaging solutions for the food & beverage, personal products, cigarette,
liquor, cellular phone and IT packaging industries. It has also entered the Flexibles and
Corrugated Cartons business.

Agri Business
e-Choupal
The unique e-Choupal model creates a significant two-way multi-dimensional channel which
can efficiently carry products and services into and out of rural India, while recovering the
associated costs through agri-sourcing led efficiencies. This initiative now comprises about
6500 installations covering nearly 40,000 villages and serving over 4million farmers.

Leaf Tobacco
ITC is the largest buyer, processor and exporter of leaf tobaccos in India - creating a global
benchmark as the single largest integrated source of quality tobaccos. Serving customers in
50 countries across more than 70 destinations, ITC co-creates and delivers value at every
stage of the leaf tobacco value chain.

Information Technology
ITC Infotech offers IT services and solutions across five key industry verticals:
Banking,Financial Services & Insurance (BFSI), Consumer Packaged Goods (CPG) &
Marketing & Business Strategy of ITC Ltd.Page 17

Retail,Manufacturing & Engineering Services, Travel, Hospitality & Transportation and

Media& Entertainment.ITC Infotech, a global IT services company, is today one of
Indias fastest growing ITservices and solutions providers.

Initiatives taken- Lets put India first:

ITC is committed to a national agenda of raising agricultural productivity and making the
rural economy more socially inclusive. ITC believes that the urgency and scale of these tasks
make market linked solution and innovations more effective and sustainable than capital

intensive approaches

Social & farm Forestry

ITC has helped to bring nearly 13,000 hectares of wasteland under social forestry benefiting
more than 16,000 poor households in 466 villages. ITCs social forestry programme
simultaneously addresses the livelihood problems of marginal farmers and the ecological
imperative of regenerating biomass and nurturing depleted soils.

Watershed Development
ITCs watershed initiatives have led to an improvement in soil and moisture regimes there
is more land under irrigation, water tables have risen and farmers can harvest morethan one
crop, making it possible to live off the land round the year.
AGRICULTURAL DEVELOPMENT
ITC offers facilitation to farmers to form agri-business societies, pool knowledge and
resources, improve productivity and quality, and reach out beyond local markets to sell
at better margins.

Marketing & Business Strategy of ITC Ltd.Page 18

 Livestock Development
The milk marketing co-operatives represent exemplary change in rural enterprise, away from
dependence on agriculture and local markets.

Marketing & Business Strategy of ITC Ltd.Page 19

Marketing & Business Strategy of ITC Ltd.Page 20

 2.2 INTERNATIONAL IMPORTANCE OF ITC

LTD:
ITC constantly endeavours to benchmark its products, services and processes to global
standards. The Company's pursuit of excellence has earned it national and international
honours .ITC is one of the eight Indian companies to figure in Forbes A-list for 2004
featuring 400 of the worlds best big companies . Forbes has also named ITC among
Asia's'Fab 50' and the World's Most Reputable Companies.
ITC is the first from India and among the first 10 companies in the world to publish its
sustainability report in compliance (at the highest A+ level) with the latest G3 guidelines of
the Netherlands-based Global Reporting Initiative (GRI), a UN-backed, multi stakeholder
international initiative to develop and disseminate globally applicable Sustainability
Reporting Guidelines.
ITC is the first Indian company and the second in the
world to win the prestigious development gateway
award. It won the $100,000 Award for the year 2005 for
its trailblazing ITC e-Choupal

initiative which has

achieved the scale of a movement in rural India. The

Development Gateway Award recognizes ITC's eChoupal as the most exemplary contribution in the field
of Information and Communication Technologies (ICT) for development during the last 10
years. ITC e-Choupal won the Award for the importance of its contribution to development
priorities like poverty reduction , its scale and replicability, sustainability. ITC has won the
Golden Peacock Awards for Corporate Social Responsibility (Asia) in 2007.

Marketing & Business Strategy of ITC Ltd.Page 21

 2.3 CHALLENGES FACED BY ITC LTD :

The problems which were faced by ITC while setting up and managing e-choupal

were as follows:
Infrastructural inadequacies,
Including power supply,
Telecom connectivity and bandwith,
Apart from the challenge of imparting skill to the first time internet users in remote
and inaccessible areas of rural India.

Cigarette valuations are under serious

threat

from

tightening

legislative/regulatory

global.

Despite

pricing

power, ITC faces formidable challenges

to grow volumes in the face of a
structural rise in taxation. ITC's woes don't just end with this regulatory uncertainty .The
increasingly disruptive tax environment for cigarettes in India resulted in a quarterly drop
in tobacco product sales.
Common problem faced by itc chain are:
1. Shortages in supply system
Hoarding due to anticipation of a rise in excise duties on cigarettes.
Creates artificial shortage.
2. Pilferage of stock due to transportation:
Due to improper action of WDs.
Can be solved by timely reporting.

3.ANALYSIS AND
FINDINGS
3.1 RESEARCH DESIGN:
Marketing & Business Strategy of ITC Ltd.Page 22

This topic has been selected to study about the marketing and business strategy of ITC
ltd. This study tells about various strategies adopted by ITC ltd to sell its product,
challenges faced by itc ltd, various areas of business of ITC.

3.2 METHODOLOGY:
The researcher has used secondary data, magazines, internet, books, some market survey
using marketing tools like asking question through phone, etc.

3.2.1 DATA TYPE:

The type of data used is secondary. Data has been collected through internet, magazines
etc.

3.2.2 PERIOD OF STUDY:

Period of study is 1month.

3.2.3 TOOL USED:

Tools used for study are:
Graph,
Pie chart and
Tables.
Bar graph and pie chart are proved really useful tool to show the result in a well clear,
ease, simple way. With the help of bar graph, tables one can show its analysis in a
systematic manner.

3.3 FINAL ANALYSIS:

Analysis of marketing strategies:
The product mix of ITC ltd

Marketing & Business Strategy of ITC Ltd.Page 23

ITC had launched nearly all the products range off Non tobacco Products; they are very
aggressive in their distribution of such products. The existing network of ITCs Cigarettes
distribution is being used extensively for the sales all products of ITC Food division. They
are trying to capitalized the market by associating the product with ITC brand.

ITC Pricing strategy:

The pricing of the ITC food division depends upon the Customers demand schedule, the cost
function and the competitors price. The pricing of the company is such that it caters to the
need of all income groups of people but special provision has been kept for Low and middle
income group, and their pricing are competitive with respect to other players like Britannia,
Parle and Brisk farm. The company follows the Going rate pricing that is the price of the
product depends upon the competitors price. The firm chooses pricing more or less the same
as Market leader.

Marketing & Business Strategy of ITC Ltd.Page 24

ITC Promotional activities:

A particular budget is allocated for the promotion of the products, the local promotion
scheme is decided by the Area Sales Manages, it give its suggestion to the District office and
that is forwarded to the Head Quarter in Kolkata. In another promotional scheme for Biscuits
a particular number of cases is given freely to the distributors according to the amount of sale
they make, this was a
drop down promotion i.e. of the number of free cases that a particular distributors gets, off
them a certain part is reserved for the retailers and customer if they buy a certain level of
biscuit quantity.

ITC Distribution
Buoyed by a strong distribution network ITC is likely to retain its market share in the
cigarettes business; the ban on advertisements is likely to work in favour of ITC thanks to the
recall factor. The company's reliable distribution network also ensures superior inventory
turnover than its peers.

BCG MATRIX

Marketing & Business Strategy of ITC Ltd.Page 25

Marketing & Business Strategy of ITC Ltd.Page 26

Consumer Buying Decision

.Reasons for purchasing
Marketing & Business Strategy of ITC Ltd.Page 27

70
60
50
40
30
20
10
0
price

quality

promotion

past experience

The main driver in attracting the consumers is Quality of the product itself with nearly 65 %
of the people surveyed citing it as the main criterion for choosing the product, followed by
past experience of the consumer with the brand (17.6%). Price was third criterion with a
percentage of 11.7% of the people surveyed gave importance during buying
.
Affectiveness of advertisement
30
25
20
15
10
5
0
Highly Affective

Affective

Somewhat Affective Not Affective

Marketing & Business Strategy of ITC Ltd.Page 28

An effective advertisement will attract more and more customer to buy, helps in the brand
and image formation, and informative in telling the USP of the product.
Customer Satisfaction
50
45
40
35
30
25
20
15
10
5
0

The above graph shows the experience of the customer after using the product i.e .whether
they were satisfied with the product as a whole. The higher the satisfaction level higher will
be the chances that the customer will buy the same brand again and again that leads to the
building of the Brand loyalty.
Avilability

yes
no

The Availability of the Product itself determine the effectiveness and the penetration of the
distribution channel of that particular brand among the people.

Marketing & Business Strategy of ITC Ltd.Page 29

SWOT ANALYSIS OF ITC LTD:

Strengths:
Brand,

Weaknesses:
Dependence on tobacco
revenues,
Negative connection of tobacco.

Distribution network,
Management.
Opportunities:
Rural market,
e-choupal.

Threats:
Competition both national and
international.
Increasing tax on cigarettes.

Analysis on Diversification
ITC has been a leader in the tobacco business, but it realize from the up coming trends that
remaining with a single business is not a noble thought, moreover the company was
threatened of the anti-tobacco campaign. Therefore the company decided to venture into
Marketing & Business Strategy of ITC Ltd.Page 30

InfoTech with ITC InfoTech, foods via Kitchens of India, greeting cards through Expressions
and lifestyle retailing through Wills Sport. ITC was a cash rich company with a liquidity of
Rs.8816 million in the cigarette business, even though the company understood the need and
usefulness of diversification.
Forty-five stores in 34 cities in just under a year, selling an expensive fashion brand of
relaxed-wear. If retail swamp-out and brand salience were the goals, ITCs Wills Sport would
be on a victory lap already.The company has started its retail stores not only in Indian
metros but also in the small towns like Ranchi, Jabalpur, Gwalior, Belguam, Ernakulam etc.
the article also talks about the strong market campaign done by the company, it also describe
how the company has used its brand image to attract the Indian youth. It also tells about the
strategy adopted by the company to differentiate itself in this segment, like the company is
outsourcing its designs form the American Design Intelligence Group (ADIG), a
SanFrancisco, US-based garment and retail consultancy. Now it has its own sixmember team, even as it continues a tie-up with Science & Designs, an Italian fashion design
house through which it keeps a watch on hot western labels such as Banana Republic and
Armani Exchange.

Marketing & Business Strategy of ITC Ltd.Page 31

4.CONCLUSIONS AND
RECCOMENDATIONS:
4.1 SUMMARY OF OBSERVATIONS:
Conclusion can be easily drawn from above about the effectiveness and penetration
of distribution channel of particular product brand among people.
Mostly consumer are satisfied with the product of this company this help it to build
a brand image in society and it influences consumer to buy the product of same

brand again and again.

Company uses its brand image to attract its youth.
Company follow the strategy of market differentiation which attract customer.
.Product of ITC ltd are of good quality which help it to build brand image.
Effective advertisement of companys product are also responsible for its key

success.
Advertising of ashirvaad atta is found to be in effective and infrequent.

Marketing & Business Strategy of ITC Ltd.Page 32

 4.2 SUGGESTIONS AND RECCOMENDATIONS

FOR IMPROVEMENT:
According to the survey conducted and after analyzing the Price, Promotion, Place and
Product of the ITC and the consumer behaviour in the market the company can
implement the following measure for increasing the sales and volume of their product:.
Advertisement for the Aashirvaad atta is found to be ineffective and infrequent. So the
company can come up with an aggressive advertisement to attract the Indian
housewife as they are found to be the decision maker in the buying of Atta.
The company can come up the concept of forming a Retail chain of Food products
across all over India as it is follows the marketing strategy of Umbrella branding. In
such retail chains all the food division products can be sold at the discounted rate, as
more and more products are coming under the Umbrella products like food
processing.

The branded atta can be exported to other countries where we are currently exporting
the whole wheat.
The company can approach the government or distributing their products in Military
canteens and can sell them to organization that provides the afternoon meals to the
children as a part of mid-day meal scheme.

FUTURE PLANS OF ITC LTD:

Marketing & Business Strategy of ITC Ltd.Page 33

Today, the Aashirvaad brand stands for atta and salt and is expected to add suji, spices and
rice in the staples segment. In the ready-to-eat segment, Aashirvaad has been expanding the
range and the latest offering includes its combo packs of rice and gravies. Besides, an allpurpose curry paste has also been included in the range. To make a success of any foods
business, apart from understanding the palate, it would be procurement and sourcing which
have to deliver on two fronts: mainly that of quality and efficiency.

4.3 LIMITATIONS OF RESEARCH:

Marketing & Business Strategy of ITC Ltd.Page 34

It was not possible to conduct primary survey.

There was shortage of time..
Lack of talent pool.
Confidentiality.
Skill set shortage.
Due to secondary survey there was limitation of data.

5.BIBLIOGRAPHY
Narayan sanjoy says that the company has diversified from a cigarette giant to a fully
diversified company in a very efficient manner.
Article of narayan sanjoy talks about how a tobacco company , moves on the path of
diversification and started manufacturing fast food, apparel etc.
The article describes the lateral thinking of the chairman and the persons who are running
the company, why they have decided to diversify and on what grounds.
Data for this study are collected from various websites of ITC ltd.
References taken from :
http://www.itcportal.com
http://www.google.co.in
http://www.just-food.com
http://www.thehindubusinessline.com

Marketing & Business Strategy of ITC Ltd.Page 35

http://www.imcri.org

Marketing & Business Strategy of ITC Ltd.Page 36