An

SUMMER INTERNSHIP PROJECT Report on

-: Prepared By :-
Ganatra Deep N.
Enrolment No. :- 187660592022

-: Academic Year :-
2019 – 20

-: Guided By :-
Prof. Kushal Bagdai

-: College :-
Geetanjani Institute of Management Studies

-: Submitted To :-

Gujarat Technological University

Ahmedabad

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College Certificate

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Company Certificate

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 DECLARATION

I undersign Mr. Ganatra Deep N. a student of MBA studying in Geetanjali Institute

of Management Studies, Rajkot. Declare that the project work done in this report is
prepared by me under fully supervision of Prof. Kushal Bagdai and this work has
not been previously submitted to any university for any examination.

Enrolment No. Name Signature

1876600592022 DEEP GANATRA

Date:

Place:

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 ACKNOWLEDGEMENT

I am thankful to Gujarat Technological University for giving the chance of practical

knowledge in the syllabus of management in MBA

I am also grateful to BALAJI WAFERS PVT. LTD. to allow me to make a project

report and especially Mr. Jay Sachdev, an authorized person of Balaji Group.

I could not have completed this report without the guidance of my professor. So, I
am also thankful to Prof.Kushal Bagdai.

______________________

Signature

(Ganatra Deep N.)

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 PREFACE

In today’s modern business world is placed on a very complex and intricate political
and economic environment. The new technologies are adopted and have influenced
by environmental factor. The opportunity and challenges provided by this
environment have profound import on the business type of product to be
manufactured and marketed. Business may also be considered as one of the essential
function of the society carried on primarily on the society.

The corporate world was operated in dynamic environment, it is still being operated
in globally dynamic environment and will be continued forever is the universal
truth. Today’s manger’s role is not restricted up to record keeper, mediator,
councilor, a role of conscience, trainer, peace maker, problem solver but also to
work as mentor and to nurture the people in ever changing environment.

We are living in the era of digitalization, globalization, computerization ad can see

the emergence of new technology every now and then. So in today’s competitive
world, only theoretical study approach is a narrow concept and students need some
practical field work and for this purpose Gujarat Technological University has
arranged an research report program for the future benefit of MBA students is really
valuable implication for me.

For this purpose, I have made a project report on BALAJI WAFERS PVT. LTD.
and tried to mention and analyze the attitude, awareness and usage of it’s all the
products for the consumers of entire market of his.

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 CONTEXT

Sr. No. Particular Page No.

PART- 1 GENERAL INFORMATION 9

CH: 1 Industry Profile 10

1.1 History of Industry 11

1.2 Overview of Industry 13

1.3 Industry Scenario 13

1.4 Growth & Market Size 14

CH: 2 Company Overview 15

2.1 Introduction of The Company 16

2.2 The Story of Balaji 17

2.3 History 18

2.4 Company Profile 19

2.5 Organizational Structure 22

2.6 Achievements, Mission & Vision 23

2.7 Products 24

2.8 Raw Materials 25

2.9 Production Department 26

2.10 HR Department 29

2.11 Marketing Department 32

2.12 Finance Department 36

2.13 Swot Analysis 40

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CH:3 Introduction to The Topic 41

3.1 Introduction of Consumer Satisfaction 42

3.2 Advantages of Consumer Satisfaction 43

3.3 Limitations of Consumer Satisfaction 43

3.4 Dimension of How to Improve Consumer Satisfaction 43

PART 2 RESEARCH WORK 44

CH : 4 Introduction to Study 45

4.1 Introduction of Study 46

4.2 Literature Review 47

4.3 Research Objectives 49

4.4 Limitation of The Project 49

4.5 Research Hypothesis 49

CH: 5 Research Methodology 50

5.1 Sources of Data 51

5.2 Sampling Design 51

CH: 6 Data Analysis & Interpretation 52

CH:7 Findings 59

CH:8 Conclusion 60

CH:9 Suggestion 60

CH:10 Bibliography 61

Annexure 62

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PART - 1

9
INDUSTRY
PROFILE

10
 HISTORY OF INDUSTRY

There is, and always has been, controversy surrounding the subject of food processing. To
those who adamantly choose whole food over processed, this is a hot button issue. Rather than
dismissing processed food outright, however, it may prove beneficial to take the time to learn
about food processing in America, and the benefits and disadvantages of this form of food
preservation.

It may be difficult for people to believe that food processing in America dates back to the
1940s, but eating processed foods is pretty normal for most people alive today.

Introduced in 1941, M&M candies were one of the first processed foods. According to the
legend, the candies were invented to provide soldiers with candy they could eat without getting
sticky hands.

General Foods created Maxwell House instant coffee, a product that was supplied to soldiers
and ultimately introduced to the public in 1945.

In 1943, the government issued new guidelines for adding vitamins and minerals to bread and
grain products. In order to offset nutrient deficiencies, these products were enriched with iron,
thiamine, riboflavin and B vitamins.

The Cherry Burrell Corporation developed a continuous pasteurization process in 1946, which
made it possible to create 7,000 pounds of butter out of cream and package all of it within two
hours.

The availability of frozen vegetables prompted all-out competition between canned and frozen
vegetables.

From baking mixes to powdered drinks, Reddi-wip (which was made with real cream), frozen
orange juice, canned V-8 juice and popular product such as Cheetos and Fritos, processed foods
are a part of everyday American life.

“Processed food” has recently become synonymous with unhealthy eating habits and a lack of
understanding about proper nutrition and the importance of whole foods. However, the
Friedman Sprout, a student-run newspaper from the Friedman School of Nutrition Science and
Policy at Tufts University, has a simple definition of processed food: processing is any
deliberate change that occurs to a food before consumption.

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This definition encompasses pretty much all forms of food processing, including canning,
freezing or pasteurization. But the definition doesn’t exclude the other end of the continuum
which involves so much processing that an entire meal could be prepared from ingredients that
were assembled in a laboratory. Although these foods are arguably not good to eat all the time,
some processing may be acceptable.

Since it’s not reasonable to lump all forms of food processing together, the International Food
Information Council Foundation created a scale that defines the different levels of processing.

Minimally processed foods include bagged salads, packages of vegetables found in the produce
sections of supermarkets, or packaged whole or ground nuts or coffee. Canned beans and tuna
also fall in this category, as does baby food that is pureed and jarred, and frozen fruits and
vegetables.

Moderately processed foods have ingredients added for safety or to ensure that food retains
visual and taste appeal. These ingredients may include sweeteners, colors, flavors, oils, spices
and preservatives. Moderate processing occurs in foods like cake mixes, salad dressings,
gelatin, instant potatoes, pudding mixes and tomato sauces.

Heavily processed foods undergo many processes so they are ready to eat right out of the
package, like granola bars, crackers, cookies, TV dinners, frozen pizzas, ice cream, carbonated
beverages, spreadable cheese, and crackers.

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 OVERVIEW OF INDUSTRY
The Indian food industry is poised for huge growth, increasing its contribution to world food
trade every year. In India, the food sector has emerged as a high-growth and high-profit
sector due to its immense potential for value addition, particularly within the food processing
industry.

Accounting for about 32 per cent of the country’s total food market, The Government of
India has been instrumental in the growth and development of the food processing industry.
The government through the Ministry of Food Processing Industries (MoFPI) is making all
efforts to encourage investments in the business. It has approved proposals for joint ventures
(JV), foreign collaborations, industrial licenses, and 100 per cent export oriented units.

INDUSTRY SCENARIO

The Processed food market is expected to grow to $ 543 bn by 2020 from $ 322 bn in 2016, at
a CAGR of 14.6%.

Food processing has an important role to play in linking Indian farmers to consumers in the
domestic and international markets. The Ministry of Food Processing Industries (MOFPI) is
making all efforts to encourage investments across the value chain. The industry engages
approximately 1.77 million people in around 39,319 registered units with fixed capital of $
29.2 bn and aggregate output of around $ 144.6 bn. Major industries constituting the Food
processing industry are grains, sugar, edible oils, beverages and dairy products.

The key sub-segments of the Food Processing industry in India are: Dairy, Fruits & Vegetables,
Poultry & Meat processing, Fisheries, Food retail etc.

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 GROWTH & MARKET SIZE

The Indian food and grocery market is the world’s sixth largest, with retail contributing 70 per
cent of the sales. The Indian food processing industry accounts for 32 per cent of the country’s
total food market, one of the largest industries in India and is ranked fifth in terms of
production, consumption, export and expected growth. It contributes around 8.80 and 8.39 per
cent of Gross Value Added (GVA) in Manufacturing and Agriculture respectively, 13 per cent
of India’s exports and six per cent of total industrial investment. The Indian gourmet food
market is currently valued at US$ 1.3 billion and is growing at a Compound Annual Growth
Rate (CAGR) of 20 per cent. India's organic food market is expected to increase by three times
by 2020.

The online food ordering business in India is in its nascent stage, but witnessing exponential
growth. With online food delivery players like FoodPanda, Zomato, TinyOwl and Swiggy
building scale through partnerships, the organised food business has a huge potential and a
promising future. The online food delivery industry grew at 150 per cent year-on-year with an
estimated Gross Merchandise Value (GMV) of US$ 300 million in 2016.

The Indian gourmet food market is currently valued at US$ 1.3 billion and is growing at a
Compound Annual Growth Rate (CAGR) of 20 per cent. ... The
online food delivery industry grew at 150 per cent year-on-year with an estimated Gross
Merchandise Value (GMV) of US$ 300 million in 2016.

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COMPANY
OVERVIEW

15
 INTRODUCTION OF THE COMPANY

Balaji Wafers began as a micro-retail enterprise in 1974,managed by the Virani brothers at

Astron Cinema, Rajkot. By 1982, spurred by the initiative of Virani brothers , this grew to a
home-based manufacturing venture. A decade later, the brothers set up an international
standard automatic plant in Gujarat, with steps to increase capacity and quality. In 2000, Balaji
Wafers installed its first fully automatic plant. By 2014, Balaji Wafers captured a 70% market
share insnacks market. Today, the company employs more than 1800 personnel in their Rajkot
and Valsad manufacturing facilities. Balaji has the capacity to manufacture 100,000 kg of
potato wafers, along with 500,000 kg of savouries per day.

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 THE STORY OF BALAJI

Entrepreneurship was thrust on the Virani brothers at a young age, when drought forced their
father to sell ancestral agricultural land and give his sons a mere Rs. 20,000 with the advice to
go forth and start a business. The road ahead saw Bhikhubhai, Chandubhai and Kanubhai
fail at their first venture of fertilizers and then take up working at a boarding mess in Rajkot.
Two years later, the brothers got associated with Astron Cinema and performed all necessary
jobs with immense sincerity. This led the owner to offer them a profit sharing deal for running
the canteen. The Virani’s initially bought prepackaged snacks for patrons. Subsequently, the
brothers got into sourcing unpackaged wafers and finally started making them self at their
residence.

This was their first own production and soon, the brothers decided to sell their product “Balaji
Wafers” not just to the Astron visitors, but also to customers outside. This was easier said than
done, due to a harrowing experience of half-eaten packets returned by shopkeepers and soiled
notes being paid. However, the Virani’s persisted and ultimately created a name that was so
deeply respected, that 0it nearly wiped off all other competition. The moped, which carried the
wafers to the market, soon gave way to an auto and then to a tempo taking financial support
through a nationalized bank.

Realizing that the key to constant success and profits was quality, the brothers ensured that if
cooks failed to show up, he personally made the wafers and insisted on the best quality raw
material to make Balaji wafers a premium product. Taking inspiration from the bittersweet
experiences in life, the Virani's went on to create different snacks that were then sold under the
same brand name of ‘BALAJI’.

The key elements behind the phenomenal success of Balaji are the strong fundamental values
of Virani brothers, which chiefly include “Trust, Passion and Steady Hard Work!”

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 HISTORY

The story started in 1972, when Virani and his brothers Bhikhubhai, Chandubhai,
Kanubhai and Meghjibhai migrated from a small village in Jamnagar district to Rajkot.
Popatbhai Virani, a farmer who sold ancestral agriculture land and gave Rs. 20,000 to his
sons to venture into business.

Virani’s invested money given by their father in farm equipments business, but could not
succeed and lost the money. Chandubhai Virani and his brothers started wafer business
from a canteen of a cinema hall in Rajkot in 1974. Till 1989, wafers used to be made at
Virani's house and distributed in and around Rajkot city.

In the initial stage Balaji Group had set up their plant at Aji Vasad (Industrial Zone,
Rajkot) with their new concept of making the potato chips. The main benefit they got is
the readymade infrastructure availability due to which their cost is reduced to larger extent.
They have operated over there around 20 to 22 years.

The key elements behind the phenomenal success of Balaji are the strong fundamental
values of Virani brothers, which chiefly include “Trust, Passion and Steady Hard
Work!”

Now Balaji Group has set up their new fully automatic plant near Metoda G.I.D.C.
which is in the area of the village named Vajdi (Vad) and also outside the town of Valsad.

After setting up the factory in Valsad, Balaji was working on the project of making factory
of Balaji in Rajkot and then the allowance was passed to Balaji to construct Balaji factory
in Rajkot between Rajdhani and Khirasra Palace and now we can see a huge factory over
Rajkot which supply nankeen’s to the Saurastra part of Gujarat and even some other parts
of Gujarat other than Saurastra.

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 COMPANY PROFILE

• Name:-

BALAJI WAFERS PVT. LTD.

• Address:-

Balaji Wafers Pvt. Ltd.,

Vajdi (Vad), Kalawad Road,

Taluka: - Lodhika,

District: - Rajkot – 360 003.

Gujarat (India).

• Head Office:-

Balaji Wafers Pvt. Ltd.,

Vajdi (Vad), Kalawad Road,

Taluka: - Lodhika,

District: - Rajkot – 360 003.

Gujarat (India).

• Year of Establish:-

1982

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• Main Product:-

1. Wafers

2. Namkeens

• Form of Organization:-

Private Limited

• Size of Unit:-

Large Scale Industry

• Directors:-

1. Mr. Bhikhubhai Virani

2. Mr. Chandubhai Virani

3. Mr. Keyurbhai Virani

4. Mr. Kanubhai Virani

5. Mr. Mihirbhai Virani

6. Mr. Pranaybhai Virani

• Total Area:-

1, 25,000 Sq.m

• Bankers:-

1. Corporation Bank

2. Kotak Mahindra Bank

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• Phone No.:-

(0281) 2783755

• Fax: -

(0281) 2783747

• Accounting year:-

1st April to 31st march

• Auditor:-

D.K. Patel & Company

• Email:-

contact@balajiwafers.com

• Website:-

www.balajiwafers.com

• Working time:

8:00 a.m. To 5: 00 p.m.

• Lunch time:-

12:00 a.m. To 1:00 p.m.

• Weekly off:-

Wednesday

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 ORGANIZATIONAL STRUCTURE

Chairman

Other Directors

General Manager

Production Marketing Finance Human Resource

Manager Manager Manager Manager

Assistant Assistant Assistant Assistant

Manager Manager Manager Manager

Area Search Human Resource

Operator Accountant
Manager Executive

Workers Clerk
Marketing

Executive

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 ACHIEVEMENTS , MISSION & VISION

• Economic Time recognized Balaji Group as 'Sultan of Wafers'.

• International Magazine i.e. Asia Pacific food online published a special article with
'Chip of the Old Block' tag.
• Balaji Group is also a member of Snacks Food Association.

Vision

The Company’s Vision, shared by the brothers and the young is to grow into a global giant
using modern methods and techniques. The key drivers in this journey of growth will continue
to be the age-old traditions of Trust and Quality, without any compromise.

Mission

The company aims to a ‘value for money product’, accessible to consumers all across the
country. To accomplish this, the company is seeking to strategically develop a strong and
credible distribution network, C&F agents, dealers and retailers.

Future plans of BALAJI WAFERS PVT LTD. Are as follows

1. To get more and cheaper production.

2. To launch new products.
3. To discover new markets.
4. To establish a new plant in Gujarat region so as to reduce the burden on Rajkot unit.
5. To increase market share and stand against stiff market competition.
6. To establish a new plant in Indore Madhya Pradesh.

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 PRODUCTS

• Wafers

1. Plain Wafers
2. Chat Chaska Wafers
3. Kela Mari Wafers
4. Masala Wafers
5. More-Wafers
6. Simply Salted Wafers
7. Kela Masala Wafers
8. Tomato Wafers
9. Pizzy

• Namkeens

1. Aloo Sev
2. Chana Dal
3. Chataka Pataka Masala
4. Farali Chevdo
5. Gathiya
6. Khatta Mitha Mix
7. Mung Dal
8. Ratlami Sev
9. Shing Bhujia
10. Chataka Pataka Tomato
11. Masala Shing
12. Tikha Mitha Mix
13. Vatana
14. Sev Mumra

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 RAW MATERIALS

• Choicest Potatoes
• Edible Oil
• Chili Powder
• Iodized Salt
• Sugar
• Choicest Banana
• Pipers Powder
• Peanuts Splits
• Choicest Gram Splits
• Choicest Peas
• Black Gram Blown
• Math Bean Flour
• Starch
• Mint Oil
• Rich Flakes
• Corn Flakes
• Green Gram
• Curry Leaves
• Sesames
• Coriander
• Black Peppers
• Curium Seeds
• Ajovan
• Roasted Gram Splits
• Amchur Powder
• Turmeric Powder
• Black Salt
• Rich Meal

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 PRODUCTION DEPARTMENT

Production plays a very important role in all the activities of company management. This is the
first step of the company management. All the business activities revolve around the production
process. The production activity is nothing but the step by step conversion of one form of
material into another chemically or mechanically. The basic inputs of the mine, farm, sea and
forest are used as raw material on which the processing is done to create the output. Production
is an activity through which the form utility is either created or enhanced.

Production management is a process of planning, organizing, directing and controlling the

activities of production function. Production function is the conversion of raw material into
finished goods. Production management is concerned with those processes which convert the
inputs into outputs. The inputs are various resources like raw materials and the outputs are
goods and services.

In BALAJI WAFERS PVT LTD., production department is looked by Mr. R.R. Parmar.

Production Process

The operations function essentially is a transformation process that accepts the inputs, and
gives the outputs after adding value to the inputs. The transformation process is expected to
generate an output. The transformation process is expected to generate an output described by
market and this it should do in the most efficient way. Production process has to adopt itself to
number of changing factors like capacity, lead-time, flexible trade-offs between material,
labour and capital, trade-offs between volume and variety, etc. we cannot have the best process,
it could only be the most acceptable process, given the different trade-offs.

In BALAJI WAFERS PVT. LTD., production process is a well – planned process. In contains
all that important stages, which is required to make a product well, accepted in the market.

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• Process

Raw Material

Washing

Peeling

Inspection

Cutting

Washing

Frying

Inspection

Adding Spices

Dispatch

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 PLANT LOCATION

Site selection is an important activity which decides the fate of the business. A good location
may, reduce the cost of production and distribution to a considerable extent. The reduction of
cost of production and distribution helps in elevating either the competitive strength or the
profit margin of the business.

Therefore, the location for the factory should be selected very carefully. While selecting a site,
it is necessary to consider technical, commercial, and financial and then the location is selected
which may provide maximum advantages.

So, looking to all these factors BALAJI WAFERS PVT. LTD. Has established the plant in an
industrial estate-

BALAJI WAFERS PVT. LTD. had chosen this location taking into consideration following
factors: -

• Supply of Raw Material

• Nearness of Market.

• Transportation Facilities.

• Labor Supply.

• Availability of Power & Natural resources.

• Government Facilities.

• Personal Factors.

• Social Factors.

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 HR DEPARTMENT

If we look at the world management it can be divided into “MANAGE-MEN-T’. If the word
‘tactfully’ substituted for ‘T’ then the word management would read “MANAGE-MEN –
TACTFULLY”. Thus the word itself suggest the most important aspect of management,
namely, of managing men and human beings in a particular manner , namely , tactfully,.

Although in one sense everyone in an organization is concerned with the personnel function,
in case of larger organization a special dept. is segregated to help the line management to secure
the optimum use of personnel dept. performing an advisory or a staff function. The personnel
department helps management in securing, using, and development appropriate, manpower to
achieve the organizational objective.

The objective of personnel management can therefore be briefly described as follows:

1. To attract and secure appropriate people capable performing effectively the

organization’s specified tasks.

2. To utilize the human resource effectively.

3. To generate maximum individual development of the people within the organization.

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 NUMBER OF EMPLOYEES

However, the big the organization may be but its employees are its real strength. Employees
are one of the important resources of any organization.

The number of employees matters a lot in the performance of the organization. The number
of employees should be proportionate to the size of the organization. Any increase or
decrease in the number of employees would cause a problem in the fu8ctioning of the
organization.

In BALAJI WAFERS PVT. LTD. The number of the employees is as follows:

DETAILS NO. OF EMPLOYEES

Office Staff 24

Supervisors & Inspectors 29

Engineers 6

Supporting staff 15

Total 74

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 PERFORMANCE APPRAISAL

Appraisal is the evaluation of worth, quality or merit. In this organisation context

performance is a systematic evaluation of personnel by supervisors or other familiar with
their performance. Performance appraisal is also described as merit rating in which one
individual is ranked better or worse in comparison to other. The basic purpose in their merit
rating is to ascertain an employee’s eligibility for performance training and development.,
salary increase, transfer, discharge etc.

The objectives of performance appraisals are as follows:

• To identify areas for further training needs.

• To help determining promotion and transfer.

• To reduce grievances.

• To improve job performance.

BALAJI WAFERS PVT. LTD. Concentrates on giving performance appraisals to its

employees. It gives appraisal to the employees on the basis of performance. BALAJI
WAFERS PVT. LTD. Gives 10% increment in the salary to its staff members.

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 MARKETING DEPARTMENT

Marketing management represents an important functional area of business management

efforts for the flow of goods and services from the producers to the consumer. It looks after the
marketing system of the enterprise.

Marketing management has to implement marketing strategies, programmers and campaigns.

It must evaluate the effectiveness of each part of marketing mix and introduce necessary
modifications to remove discrepancies in the actual execution of plans, policies, strategies,
procedures and programmers.

Marketing management has to plan and develop the product on the basis of known consumer
demand. It has to build up appropriate marketing plan or marketing-mix to fulfill the et-goals
of the business. It has to formulate sound marketing policies and programmers. It looks after
their implementation and control. In essence, marketer is a manager of customer demand in a
changing business world.

This company has done segmentation of market very systematically.

A. Product wise:
This firms producers domestic products like deep well and diesel engines which depends
on demand of people.

B. Geographical:
Geographical segmentation calls for dividing market in state region, country etc. here
division is done as:

1. Saurashtra i.e. Local market.

2. National market.
3. International market.

In Balaji wafers market segmentation is done on the basis of geographical and product basis.

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 PRODUCT MIX

1. Potato masala wafers

2. Potato salted wafers

3. Tomato masti

4. Chat chaska

5. Banana mari wafers

6. Banana masala wafers

7. Farali chevdo

8. Chana dal

9. Mung dal

10. Masala peas

11. Shing bhujia

12. Ratlami sev

13. Aloo sev

14. Tikha mitha mix

15. Khatta mitha mix

16. Masala shing

17. Shing

18. Gathiya

19. Chataka pataka

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 CHANNEL OF DISTRIBUTION

Channel of distribution can be defined as “The marketing process in which the good and
services are transferred from producers to consumers.

Distribution means to distribute, or spread in the field of marketing. Channel of distribution

indicates roots or pathways through which goods or services flows from producers to
consumers.

The entire function of getting foods into the hands of the customers is often referred to as
distribution. The middle man engaged in moving goods from the place of production to the
place of consumption goods are moved to the desired place through the channel. In other words,
the root by which goods move from the place of consumption is termed as channel of
distribution.

Channel of distribution of BALAJI WAFERS PVT. LTD. are as follows:-

Balaji Wafers

Dealer

Wholesaler

Retailer

Consumer

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 COMPETITORS

Today world is full of competitions. It is very difficult to survive in this competitive world. To
survive in this competitive world, the company should try to satisfy the needs of the consumers
by providing Good and services at reasonable cost. The company can’t compromise with its
quality of goods.

As there is competition in the market it is very important for the company to satisfy its
consumer to the fullest and to live up to their expectations.

BALAJI WAFERS PVT. LTD; also has many competitions in the market. Competitors of
BALAJI WAFERS PVT. LTD. are as follows:

• RUFFLES LAYS

• EVEREST WAFERS

• ATOP WAFERS

• GOPAL NAMKEEN

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 FINANCE DEPARMENT

Finance holds the key of all activities the path of success is greased with money. Money is an
arm or a leg: “You either use it or lose it.”

Financing is the process of organizing the flow of funds so that a business can carry out its
objectives in the most efficient manner and meet its obligations in the most efficient manner
and meet its obligations as they fall due.

Finance “guides and regulates investments decision and expenditure. To get the best out of the
available funds is the major task of finance manager. Finance is the common denominator of
the vast range of corporate objectives and the major part of any corporate plan must be
expressed in the financial terms.”

Finance management today is recognized as the most important branch of business

administration. Finance management provides the best guide for the future resources allocation
by a firm.

One of the most important functions of finance manager is that of planning. Financial planning
is essentially concerned with judicious procurement and profitable use of funds – a use which
is determined by realistic inventories decisions. Financial planning helps management to avoid
waste by providing policies and procedures which make possible a closer coordination between
various functions of the business enterprise. Financial planning is responsibility of top-level
management.

BALAJI WAFERS PVT. LTD. does a systematic financial planning.

25% to 50% of finance is provided the company first decides the project and then the finance
is procured from banks.

To avoid wastage of finance the company first decides the project and then the finance is
procured.

For the short-term capital, the company depends on cash credit, bills of exchange, promoters
and debtors. Debtors are also given each discount for early payment which encourages them
for early payment and the requirement of short-term capital of the company is met.

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 CAPITAL STRUCTURE

Capital structure is sometime known as the financial plan. It’s the permanent financing of the
firm represented by long term share capital by equity share and preference shares.

In capital structure the proportion of the capital is to decide with regard to use of debt and
equity. The requisition of proportion arises because if company issues only ownership capital
then it can’t satisfy the main objective i.e. to maximize the shareholders return and if the
company issues more borrowed capital then it has to pay compulsory interest and thus it
reduces shareholders capital. Thus the mixture of debt and equity is called capital structure.

`BALAJI WAFERS PVT. LTD. has its capital structure as under:

• Ownership capital:-

Equity shares: - Rs. 42,38,000

Reserves and surplus:- Rs. 1 96 87 350

• Borrowed capital:-

Secured capital:- Rs. 82 59 494

Unsecured capital:- Rs. 1 41 75 984

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 WORKING CAPITAL MANAGEMENT

Working capital may be regarded as the lifeblood of the business. Its effective provisions can
do much to ensure success of a business, which its inefficient management can lead not only
to loss of profits but also to ultimate downfall of what otherwise might be considered as
promising concern.

The term working capital is commonly used for the requirement of capital for daily operation
of business i.e. for purchase of raw material, payment of salaries and wages to the employees,
rent for the building, electric charges etc. and working capital is concerned with the problem
that arrive to attempt to manage, current assets, relationship that exit between them.

Current assets mean “those assets which are easily converted into cash within one year.” For
BALAJI WAFERS PVT LTD. the main source for working capital is cash credit, bank
overdraft, packing credit, debtors and creditors.

RECEIVABLES MANAGEMENTS

Receivable are assets which created as a result of the sale of good & services in the ordinary
course of business. These are known as “account receivables, trade receivable or customer
receivables. A firm, therefore, carries receivable for is customers for some period, which
depends upon the requirement of customers at one end and the credit sanctioning capacity of
the firm at the other. An analytical framework has been developed to provide insight into the
process of the creation the main determinants of account receivable. The framework should be
useful for decision making purposes and managerial functions in the areas of accounts,.

For BALAJI WAFERS PVT LTD. The main source of the receivables is bill receivable and
debtors. The debtors are informed one day before the due date about their payment.

If any debtor pays the amount before the due date then he is given discount on payment which
encourages the customer to make early payments.

38
 CASH MANAGEMENT

The basic mechanism involving conversion of funds into saleable products and back into liquid
form which is very important in the business. Cash in its ultimate state yield no return and as
such is barren.

Cash is the beginning as well the end of the operating cycle of manufacturing concern. It the
basic input need to keep the business running on continuing basis and is also the ultimate output
expected to be realized by selling the product. The cash balanced of company is a “ safety valve
or shock absorber”. Protecting the company against short run fluctuations in fund requirements.

BALAJI WAFERS PVT LTD. maintains cash in an appropriate manner. The company always
monitors the bank account regularly and funds are kept in banks. This helps the company to
keep appropriate amount of cash with them.

LEVERAGE

The employment o an asset or source of funds for which the firm has to pay a fixed cost or
fixed return may be termed as leverage. The earnings available to the shareholders as also the
risk are affected. If earnings less the variable costs exceed the fixed cost or earnings before
interest and taxes exceed the fixed return requirement, the leverage is called favorable which
they do not, the result is unfavorable average.

1. Financial leverage:

It may be defined as the firm’s ability to use fixed operating cost to magnify the effects
of changes in sales in earnings before interest and taxes.

2. Operational leverage:

It is defined as the ability of the firm to use fixed financial changes in EBIT on the
firms earning per share.

39
 SWOT ANALYSIS

SWOT analysis means analysis of STRENGTH, WEAKNESS, OPPORTUNITIES AND

THREATS.

It is important for every company to analyze their SWOT. Because this gives a complete picture
of the performance of the company. The company comes to know where it has room for
improvement in which area it has its mastery, what are the opportunities which it has to grab
and what are the threats that it has to face in near future.

BALAJI WAFERS PVT. LTD. Has done its SWOT analysis as follows:-

• Strengths:

1. Strength of BALAJI WAFERS PVT. LTD. is good quality products, regular and
on time supply of goods and customer satisfaction at competitive prices.
2. Excellent management for raw material and dispersion.
3. Large market share.
4. Huge amt of capital
5. Proper pricing

• Weakness:

1. This unit does not have any major weakness. Some of minor weaknesses are lack
of internal co ordination and employees’ turnover rate is more.

• Opportunities:-

1. Expansion in inaccessible areas

2. Growing market in area around the globe.

• Threats:-

1. Increasing global competition.

2. Loss of market share.

40
INTRODUCTION
TO
THE
TOPIC

41
INTRODUCTION OF CONSUMER SATISFACTION

Consumer is a king of market. He is very crucial and essential part of any market to complete
its criteria of market. Consumer is one of the most required and essential tools of any market.
Market can be start and end by its consumer.

It is very much necessary for any company to satisfy its consumers for running the company
successfully. Consumer satisfaction is the one of the most important and essential key for any
company to be in market and to sustain in the market. The company, whose consumer are
satisfied they can run their company for a longer period of time and survive for long duration.
So, consumer satisfaction is necessary part to sustain in market successfully.

WHAT IS CONSUMER SATISFACTION? Consumer satisfaction is a term generally used

to measure a consumer's perception of a company's products and services. It is not a straight
forward science however, as consumer satisfaction will vary from person to person,
depending on a whole host of variables which may be both psychological and physical. The
challenge for companies in recent years has been to measure these perceptions. Measurement
usually makes use of a feedback survey of some kind. Consumers are asked to respond to a
set of questions or statements using a 4 point scale. The consumer completes the survey by
evaluating the service they have received in terms of their perception and expectations.
Companies can compare the completed surveys with previous surveys to see if they are
improving or getting worse, or benchmark their satisfaction survey results with that of other
companies.

The ultimate aim of measuring consumer satisfaction must be to act on the information
gathered, close the "gaps" between the consumer's perception of service and the actual
service provided.

Recent thinking by leading consumer service gurus such as Dr Ken Blanchard concludes that
consumers should not be merely satisfied they should be delighted. That's one more challenge
for companies who claim to have achieved 100% consumer satisfaction.

42
ADVANTAGES OF CONSUMER SATISFACTION

Consumer satisfaction may lead to the good result of the company. The brand of the company
increases. The working capital of the company increases so that new investment opportunities
can be found out. Better variety and new invention can be found out through the view of
consumer. Knowledge regarding changing attitude of consumer and its important while
forming the marketing strategies can be derived. The most important thing is systematic and
exhaustive search relevant to any problem of field can be search out. Potential buyers can be
derived.

LIMITATIONS OF CONSUMER SATISFACTION

If the consumer is not satisfied, then may be consumption of the product deteriorate. The less
satisfaction may affect position of the company. If the consumers do not get satisfactory
product then it might affect company brand.

DIMENSION OF HOW TO IMPROVE CONSUMER SATISFACTION

• Utility of service
• peed of service
• ricing
• complaints or problems
• Trust in your employees
• The closeness of the relationship with contacts in your firm
• types of other services needed
• our positioning in clients‟ minds

43
 PART - 2
RESEARCH
WORK

44
 INTRODUCTION TO STUDY

A research method is a systematic plan for conducting research. Sociologists draw on a variety
of both qualitative and quantitative research methods, including experiments, survey research,
participant observation, and secondary data. Quantitative methods aim to classify features,
count them, and create statistical models to test hypotheses and explain observations.
Qualitative methods aim for a complete, detailed description of observations, including the
context of events and circumstances.

45
 INTRODUCTION OF STUDY

Research methodology is a way to systematically solve the research problem. It may be

understood as a science of studying how research is done scientifically. In it we study the
various step that are generally adopted by a researcher in studying his research problem along
with the logic behind them. It is necessary for the researcher to know not only the research
methods/techniques but also the methodology.

Researchers not only need to know how to develop certain indices or tests, how to calculate
the mean, the mode, the median or the standard deviation or chi-square, how to apply particular
research techniques, but they also need to know which of these methods or techniques, are
relevant and which are not, and what would they mean and indicate and why.

Researchers also need to understand the assumptions underlying various techniques and they
need to know the criteria by which they can decide that certain techniques and procedures will
be applicable to certain problems and others will not. All this means that it is necessary for the
researcher to design his methodology for his problem as the same may differ from problem to
problem.

From what has been stated above, we can say that research methodology has many dimensions
and research methods do constitute a part of the research methodology. The scope of research
methodology is wider than that of research methods.

Thus, when we talk of research methodology we not only talk of the research methods but also
consider the logic behind the methods we use in the context of our research study and explain
why we are using a particular method or technique and why we are not using others so that
research results are capable of being evaluated either by the researcher himself or by others.

Why a research study has been undertaken, how the research problem has been defined, in what
way and why the hypothesis has been formulated, what data have been collected and what
particular method has been adopted, why particular technique of analyzing data has been used
and a host of similar other questions are usually answered when we talk of research
methodology concerning a research problem or study.

46
 LITERATURE REVIEW
• The future of India Snacks Market can be judged from the fact that this industry
is expected to grow with double digit CAGR for the time frame of 2018 to 2024. India
snacks market is dived between organized players and unorganized market. At present
Unorganized market is dominating the India snacks market. But this scenario is
expected to change during the forecast period of 2018-2024. India Snacks Market is
growing due to following factors Lifestyle Changes, Rising Urbanization, Growing
Middle Class Population, Local Availability and Availability of Snacks in Small
Package Size, Low Price and Company's Strategies to focus on regional taste.(29-1-
2018,Laura Wood, Senior Manager)
• Satisfaction is a result of a product related experience and this question reflects
the overall opinion of a consumers experience with the product performance.
Satisfaction and attitude are closely related concepts. The psychological concepts of
attitude and satisfaction mayboth be defined as the evaluation of an object and the
individual relationship to it. Anything that can be offered to a market for attention,
acquisition, use, or consumption that might satisfy a want or need, include physical
objects, persons, organizations, and ideas is called as product. Services mean the work
done by one person which is helpful to another person and these are intangible in nature.
It is an act of help and assistance. (Sahaya Alexander )
• Haldirams does not have an effective visual merchandising strategy but is still able
to procure higher sales due to a focused product line, resulting in timely stock
replenishment. While Frito Lay's merchandising tools were found to be most effective
in increasing the visibility of its products and brand due to increased deployment of
these tools in different shapes and sizes at almost all retail outlets, its merchandising
strategy could not beat the festival season sales of Haldirams. This is due to the fact
Factors Affecting the Retailer Perception for the Sale of Snacking Products through
Traditional Trade Retail Outlets in India 29 NJMSR V.1 No.1 Issue 1 (2016) that
Haldirams brand, as a close competitor of Frito Lay, also provided better retailer
schemes to push sales during the festival season further. ITC and Parle lag far behind
in merchandising tool deployment and also in offering competitive retailer schemes.
(Gagan Katiyar,2016)

47
• M.S. Krishnan, Venkatram Ramaswamy, Marry C. Meyer, Paul Damien In this
paper, we study the drivers of customer satisfaction for financial services. We discuss
a full Bayesian analysis based on data collected from customers of a leading financial
services company. Our approach allows us to explicitly accommodate missing data and
enables quantitative assessment of the impact of the drivers of satisfaction across the
customer population. We find that satisfaction with product offerings is a primary driver
of overall customer satisfaction. The quality of customer service with respect to
financial statements and services provided through different channels of delivery, such
as information technology enabled call centers and traditional branch offices, are also
important in determining overall satisfaction. However, our analysis indicates that the
impact of these service delivery factors may differ substantially across customer
segments. In order to facilitate managerial action, we discuss how specific operational
quality attributes for designing and delivering financial services can be leveraged to
enhance satisfaction with product offerings and service delivery. Our approach and
findings have significant implications for managing customer satisfaction in the
financial services industry.

• Haksik Lee, Yongki Lee, and DongkeunYoo(2000) retail banking Customer

satisfaction and retail banking an assessment of some of the key antecedents of
customer satisfaction in retail banking was studied by Ahmad, Jamal and Kamal
Naser(2002). In this research papers found that the findings from a survey 41which
looked into the impact of service quality dimensions and customer expertise on
satisfaction. Findings indicate that both core and relational dimensions of service
quality appear to be linked to customer satisfaction. The determinants of perceived
service quality and its relationship with satisfaction were studied by Haksik Lee,
Yongki Lee, and DongkeunYoo(2000). This literature review related to the perceived
service quality.. First, it compares the gap model with the performance model. Second,
it investigates the direction of causality between service quality and satisfaction.
Finally, it examines whether the influences of some dimensions of service quality vary
across service industry types. Three service firms were selected and respondents were
interviewed in each firm.

48
 RESEARCH OBJECTIVES

1. To know the overall satisfaction level of consumer towards BALAJI products.

2. To know the frequency of consumers purchasing the products.

3. To know the perception of consumers about the value of products.

4. To know the feedback of consumers recommending the products to others.

5. To study the perception of respondents with respect to price, consumer expectations, and
overall satisfaction across demographic variable.

LIMITATION OF THE PROJECT

• The research work will be limited to Rajkot city only.

• Sample size is 100, which may not represent the overall population.
• The respondent might be biased in filling in questionnaire.

RESEARCH HYPOTHESIS

Ho: - The consumers are significantly not satisfied with Balaji products.

H1: - The consumers are significantly satisfied with Balaji products.

SAMPLE SIZE

The scope of the study will be limited to the sample size of 100 consumers.

RESEARCH TYPE

The research is exploratory in nature.

49
RESEARCH
METHODO-
LOGY

50
SOURCES OF DATA
There are two sources available for data collection. One is primary source and another one is
the secondary source.

PRIMARY DATA

Questionnaire

SECONDARY DATA

o Internal

o Website & Books & magazines

o SAMPLING DESIGN

SAMPLING DESIGN
is one of the most important aspects where the design must be appropriate in order to have the
desired result. Sampling design includes various aspect and they are as follows.

➢ Type of sampling: Convience sampling

➢ Sampling unit: Consumers of Rajkot city

➢ Sampling Area: Rajkot City

➢ Sample size: 100 consumers

51
 DATA ANALYSIS & INTERPRETATION

Q.1 How are your overall level of satisfaction with BALAJI WAFERS?

PARTICULAR NO. OF
RESPONDENT

HIGHLY SATISFIED 32

SATISFIED 30

NEUTRAL 20

DISSATISFIED 8

HIGHLY
DISSATISFIED 10

SATISFACTION LEVEL

HIGHLY DISSATISFIED 10

DISSATISFIED 8

NEUTRAL 20

SATISFIED 30

HIGHLY SATISFIED 32

0 5 10 15 20 25 30 35

According to chart majority of the respondents are highly satisfied but, in some case,
there is the few respondents are there is not satisfied with the BALAJI products.
And also, some respondents they are the neutral once.

52
Q.2 How would you rating the quality of BALAJI WAFERS.

RATING NO. OF RESPONDENT

1 8

2 12

3 36

4 14

5 30

RATING THE QUALITY

40

35

30

25

20

15

10

0
1 2 3 4 5

RATING

According to chart the majority of the respondents are giving the rate of balaji
wafers is 3 and also some may have 30 respondents who give 5 out of 5 rating but
few respondents who giving the 1 or 2 out of 5.

53
 Q.3 Are you satisfied with the price of BALAJI PRODUCTS?

PRICE NO. OF
RESPONDENT

HIGHLY SATISFIED 55

SATISFIED 15

NEUTRAL 10

DISSATISFIED 14

HIGHLY 6
DISSATISFIED

PRICE

50
45
45

40

35

30

25

20
15 14
15
10
10
6
5

0
HIGHLY SATISFIED SATISFIED NEUTRAL DISSATISFIED HIGHLY DISSATISFIED

According to chart majority of the respondents are highly satisfied with the price of Balaji
wafers but there are also few respondents who are not satisfied with the price of Balaji
wafers.

54
 Q.4 Did you think that BALAJI Wafers has the most variety of products in respect
of all the other Namkeen Products?

PARTICULAR NO. OF
RESPONDENT

HIGHLY SATISFIED 50

SATISFIED 20

NEUTRAL 9

DISSATISFIED 13

HIGHLY 8
DISSATISFIED

variety of product
60

50

40

30

20

10

0
HIGHLY SATISFIED SATISFIED NEUTRAL DISSATISFIED HIGHLY DISSATISFIED

variety of product

According to chart there are 50 % respondents who are highly satisfied with the variety of
the products in respect to other namkeen products and also some few respondents are not
satisfied or neutral or highly dissatisfied with the variety of the products in respect to other
namkeen products.

55
 Q.5 What are your opinion about BALAJI Products quality?

OPINION ABOUT BALAJI NO. OF

PRODUCTS QUALITY RESPONDENT

HIGHLY SATISFIED 39

SATISFIED 23

NEUTRAL 12

DISSATISFIED 15

HIGHLY DISSATISFIED 11

OPINION ABOUT BALAJI WAFERS

HIGHLY DISSATISFIED

DISSATISFIED

NEUTRAL

SATISFIED

HIGHLY SATISFIED

0 5 10 15 20 25 30 35 40 45

OPINION ABOUT BALAJI WAFERS

According to chart the respondents who gives the opinion about the Balaji Products quality
the majority respondents are highly satisfied and satisfied. There are the 12 % respondents
gives the neutral opinion but few respondents are not satisfied with the Balaji products
quality.

56
Q.6 What are your opinion about purchase availability of BALAJI Products?

PURCHASE NO. OF
AVAILABILITY RESPONDENT

HIGHLY SATISFIED 56

SATISFIED 34

NEUTRAL 5

DISSATISFIED 3

HIGHLY DISSATISFIED 2

PURCHASE AVAILABILITY
60

50

40

30

20

10

0
HIGHLY SATISFIED SATISFIED NEUTRAL DISSATISFIED HIGHLY DISSATISFIED

PURCHASE AVAILABILITY

According to chart there is more than 50 % of respondents who are highly satisfied
with the purchase availability of Balaji products and very few respondents are
highly dissatisfied with this and some 5% respondents are neutral.

57
Q.7 How you often use BALAJI wafers?

PARTICULAR NO. OF
RESPONDENT

DAILY 44

ONCE A WEEK 26

ONCE A MONTH 19

TWICE A MONTH 8

NEVER 3

OFTEN USE
50
45
40
35
30
25
20
15
10
5
0
DAILY ONCE A WEEK ONCE A MONTH TWICE A MONTH NEVER

OFTEN USE

This chart shows the often use of balaji wafers. Majority respondants are daily uses of balaji
products and some may have once a week or once a month and very few respondnts are says they
don’t use the balaji product.

58
 FINDINGS

1. The findings of this study exposed the current consumer's perception of food products
related to its consumer satisfaction and suggestion of ways to improve its consumer
satisfaction with the perceived price, quality, quantity, overall satisfaction and
consumer's expectation towards the products.
2. Perceived quality is a major driver of consumer satisfaction although achieving a
satisfactory level of perceived quality has become more difficult as continual
improvements over the years have led to heightened consumer expectations of the food
products.
3. However, satisfying consumers‟ expectation is critical to businesses because high
consumer satisfaction will lead to brand loyalty. The quality of goods and services will
increase consumer satisfaction and loyalty.
4. Once the consumers are persuaded that the brand offers what they expected, they stay
with the brand. Thus, perceived quality must be perceived by consumers.
5. Consumer satisfaction is a consumer's evaluation of their purchase and consumption
experience with a product, service, brand, or company. Interest in satisfaction stems
from its role in affecting consumers' repeat purchase decisions and subsequent company
profits.
6. As the link to profitability has become clear, consumer satisfaction is now a prominent
metric in business accounting and reporting. The study ends with a call to better
understand the psychological and behavioral consequences of satisfaction going
forward.
7. Specifically, greater attention should be given to how satisfaction, in conjunction with
a company's or brand's image (reputation), and strength of relationship with consumers
explain consumer loyalty and retention.

59
 CONCLUSION

These results can be used to development of the company. This research has certain
implications. Firstly, consumer satisfaction is the important factor for the organization and it is
important for the development of the company. Thus, this research report could enable
organization to make changes in the company and company can increase its profit by satisfying
its consumers.

SUGGESTION

• This project will be useful to the companies to know their overall satisfaction level of
consumers.
• Project will be also useful to the researchers to gain learning experience from the
research into an upcoming topic.
• The project will also be useful for the students for future reference.
• The concept of satisfaction focuses on what is expected from consumers. Therefore, the
study raises the need for further researches in other areas and cities. The future research
can explore the effect of other topics of marketing field. The data is collected only from
100 respondents so the scope for future study can be done with more than 100
respondents which can give better results for further research.

60
 BIBLIOGRAPHY

https://balajiwafers.com/

https://en.wikipedia.org/wiki/Balaji_Wafers

https://www.investindia.gov.in/sector/food-processing

https://www.ibef.org/industry/indian-food-industry/showcase

www.iaeme.com/MasterAdmin/uploadfolder/JOM_05_05.../JOM_05_05_011.pdf

61
 ANNEXURE

Instruction: -

1. This research is for education purpose only.

2. Please spare 2 minutes for fill up the questionnaire form

QUSETIONNAIRE:
• Name:
• Gender: - Male Female
• Age Group:
1) 18 – 20
2) 20 – 25
3) 25 – 30 above 30

Q.1 How are your overall level of satisfaction with BALAJI WAFERS?

1) HIGHLY SATISFIED
2) SATISFIED
3) NEAUTRAL
4) DISSATSIFIED
5) HIGHLY DISSATISFIED

Q.2 How would you rating the quality of BALAJI WAFERS.

1) 1
2) 2
3) 3
4) 4
5) 5

Q.3 Are you satisfied with the price of BALAJI PRODUCTS?

62
1) HIGHLY SATISFIED
2) SATISFIED
3) NEAUTRAL
4) DISSATSIFIED
5) HIGHLY DISSATISFIED

Q.4 Did you think that BALAJI Wafers has the most variety of products in respect of all the
other Namkeen Products?

1) HIGHLY SATISFIED
2) SATISFIED
3) NEAUTRAL
4) DISSATSIFIED
5) HIGHLY DISSATISFIED

Q.5 What are your opinion about BALAJI Products quality?

1) HIGHLY SATISFIED
2) SATISFIED
3) NEAUTRAL
4) DISSATSIFIED
5) HIGHLY DISSATISFIED

Q.6 What are your opinion about purchase availability of BALAJI Products?

1) HIGHLY SATISFIED
2) SATISFIED
3) NEAUTRAL
4) DISSATSIFIED
5) HIGHLY DISSATISFIED

Q.7 How you often use BALAJI wafers?

63
1) DAILY
2) ONCE A WEEK
3) ONCE A MONTH
4) TWICE A MONTH
5) NEVER

• SUGGESTION: _________________________________________

64