BALAJI WAFERS PVT. LTD.
ABOUT THE COMPANY:
Balaji Wafers and Namkeen group, based in Rajkot, Gujarat, India,
manufactures and distributes potato chips and other grain-based bagged
snacks in various flavours. Started as a micro-business, it has evolved into a Rs.
2,000 crore company of products with an indigenous taste. Balaji company
started in 1976 by the members of Virani Group, when Chandubhai and his
brothers Bhikhubhai and Kanubhai migrated from a small village Dhun Dhoraji,
Jamnagar district of Gujarat. Their father Popatbhai Virani was a farmer, who
sold ancestral agriculture land and gave Rs. 20,000 to them to venture into
business. The Viranis invested in farm equipment, but could not succeed and
lost the money. Kakubhai and his brothers started a wafer business from a
canteen of a cinema hall in Rajkot in 1974. Until 1989, the wafers were
produced at the Viranis' house and distributed in and around Rajkot city.
Balaji Wafers had a tremendous growth in the chips sector in the 2007-2016
decade, outwitting the marks of major players like Lays', Kurkure, Parle and
Bingo. The company aims at a similar market grab in the frozen foods and fries
sector dominated by McCain Foods, by launching a new line of production
under the Iscon-Balaji Foods brand. In the initial stage Balaji Wafers Pvt. Ltd.
set up their plant at Aji Vasad (Industrial Zone, Rajkot) with a new concept of
making potato chips. The main benefit they got is the readymade
infrastructure availability due to which their cost was reduced to large extent.
They operated there for around 22 years.
Balaji's share of the local potato and vegetable chips market grew to 13.7% in
2012, from 9.5% in 2008, according to Euromonitor. Balaji also dominates in
the western market with a share of 71%. In its home state Gujarat, it has a
share of 90%. Economic Times recognized Balaji Wafers as 'Sultan of Wafers'.
Balaji Wafers is also a member of the Snacks Food Association.
INTRODUCTION OF NEW PRODUCT:
Balaji Wafers are planning out on introducing a new product into their product
line something very different and very unique from their existing products and
that is NACHOS. As we know Nachos is a Mexican dish and is sold by many
companies in India, Balaji plans to make it in Indian flavours and serve it to
their customers. This is a way of presenting existing established product into
market and creating a market share for themselves.
Nachos is a Tex-Mex dish from northern Mexico that consists of heated tortilla
chips covered with melted cheese (or a cheese-based sauce), often served as a
snack or appetizer. A Mexican and Southwestern U.S. inspired snack of crisp
tortilla chips topped with melted cheese (usually Cheddar), and chilies.
Frequently additional toppings are added: chopped onions, olives, refried
beans, salsa, sour cream, etc.
More elaborate versions of the dish add other ingredients, and may be
substantial enough to serve as a main dish. Ignacio "Nacho" Anaya is credited
with creating the dish in 1943; the original nachos consisted of fried corn
tortilla chips covered with melted cheese and sliced jalapeño peppers.
The nutritional breakdown and total calorie count for a serving of nachos
typically depends on the type of nacho, type of cheese, and additional toppings
(such as beef, jalapeños, etc.) that are included in the serving. Most typical
corn tortilla chips contain about 15 calories per chip. Baked corn tortilla chips
have about 6 calories per chip, making them a healthier alternative option to
the usual fried chip. Mexican-style cheddar cheese contains about 110 calories
per ounce. Adding an additional source of protein, such as chicken or beef,
increases the calorie count by about 100 calories or so. All in all, a single
serving of nachos can contain from 300–600 total calories.
A single serving of nachos also contains significant amounts of fat, sodium, and
calcium. There are around 16 grams of fat, 816 mg of sodium, and 272 mg of
calcium per serving of nachos. In other words, one serving contains 39% of the
daily value for fat, 34% of the daily value for sodium, and 27% of the daily
value for calcium.
CREATE A SALES TERRITORY PLAN and SALES QUOTA
A sales territory plan is a workable plan for targeting the right customers and
implementing goals for income and consistent sales growth over time.
Traditionally, sales territories were created by geographical location. However,
these days it’s been extended to include different industries, customer types,
and other segments. Any kind of sales figures given to any particular person or
region or distributor is called Sales Quota. It can be measured either in terms
money or the stock of goods sold. It is particularly an amount of target sales
that is assessed on daily or monthly basis. To assess the performance of an
individual sales person, his/her ability is looked to meet the given target.
An effective sales territory plan can make your team more productive, improve
customer coverage, increase overall sales, and reduce costs. On the other
hand, unbalanced territory plans and constant changes in territory division can
hurt productivity as well as working relationships between clients and account
managers. That’s why it’s so important to work on your territory management
strategy, whether you’re just starting one, or updating an existing plan.
The best way to start is to first look at your customers, leads, and prospects.
1. Define Your Market, Analyse, And Segment Existing Customers.
We will split up your customers into segments based on various characteristics
such as: industry, location, purchase history, and whatever else is relevant to
the organization.
1. The first group will be your best customers, or the ones who require
little effort. (i.e. the youth of Gujrat)
2. This is followed by the second group of customers: the ones who require
a bit more work, but only those you are confident have potential
revenue gain that justifies the extra work required by sales reps.(i.e. the
middle age segment)
3. The third group should be customers who require a lot of work.(the
corporates)
With these groups formed, we can decide how to best use your resources.
For Balaji Wafers Gujrat is the perfect sales location for the commercialization
of its product as it is well establishes there and customers trust their brand is
terms of quality and quantity.
2. Conduct A SWOT Analysis.
We should identify our sales team’s internal strengths and weaknesses and
external opportunities and threats with what is known as a SWOT analysis.
A SWOT analysis is a process that identifies internal and external factors that
can affect the organization’s performance. When you have a better
understanding of your strengths, weaknesses, opportunities and threats, you
can develop a stronger sales territory plan.
Strengths
Knowing every sales persons strengths will help you decide which sales reps to
assign to which territory.
Balaji Wafers strengths might include:
A diverse customer base
An established distribution base
An excellent service team
A strong market hold
Weaknesses
Which weaknesses do you need to respond to? Think about weaknesses
amongst your team, but also in the sales process.
A very large geographic area
A lack of time to develop understanding of the products, markets, and
selling process
Opportunities
Are there any opportunities in your marketplace you can take advantage of?
This data can also be discovered using CRM software.
Untapped markets
Under-served territories
Growing demand for product or service
Threats
Take a look at the biggest threats in each territory and consider what threats in
your selling environment you'll defend against.
Some threats we may discover include:
Competitors fighting for the same market share
Changes in technology
New industry and regulatory standards
3. Set Goals And Create Targets.
In order to make a successful sales territory plan, we will create clear
parameters and realistic goals for the team as well as individual sales reps’
territories.
To do this, we will consolidate the trends we’ve discovered above to come up
with S.M.A.R.T (Specific, Measurable, Achievable, Relevant, and Time-based)
goals and realistic targets.
How many new opportunities do you need to meet quota?
Having sales quotas are a great way to motivate sales reps, but if you
find you're not meeting those quotas, you have a problem. There could be
weaknesses in the sales pipeline, or you may need to seek new opportunities.
In order to set goals and benchmarks for the team, consider using the top-
down approach.
Using the top-down approach to sales quotas (where you set a goal for the
period and then assign sales quotas to support this goal), we can go over the
data from previous periods to get an idea of what your team was able to
accomplish in the past and what a realistic goal for the future is. This can help
you decide how many new opportunities you'll need to pursue in order to
meet that goal.
Setting Sales Quota will not only help Balaji to capture a large area of market
with some countable staff members but also will help it to establish a greater
standard of customer relationship management which can further help them
up to increase their customer loyalty and customers database.
Where do most of your leads come from? Which geographical regions should
you concentrate on?
There are a number of ways to review customizable data using CRM software
to discover where your leads are coming from. This can help you target areas
of interest. The existing customer database for Balaji is self-sufficient to decide
that which area is to be more concentrated on and which to less.
4. Making Our Sales Person Aware About The Defined Sales Volume
And Financial Quota(Profit Quota).
The employees in the organization are the key to approach the required set of
customers so it is initially necessary to give them a brief that what is expected
out of them.
Sales Volume Quota for Two weeks for a single sales person will be initially
Setup at Rs. 70,000-85,000 or min. selling of 9,000-10,000 units (Rs. 10/piece)
because Balaji itself enjoys a strong customer base and strong distribution
channel. And as per the sales defining the min profit required out of them. It is
to be noted that the more is the sales the more is the profit and the more is
the market share of the product which simply defines that it is really crucial to
Concentrate of the sales maximization to achieve any other desired goals.
5. Develop strategies to accomplish your goals.
With clear customer segments and goals in place, it’s time to create strategies
to succeed. Using the information collected so far, we can now work out an
even distribution of specific regions or markets among individual reps. The
SWOT analysis mentioned above gives you a better idea of how to best assign
your team members’ skills and talents to a territory.
The customer segments will help us figure out how often different accounts
should be contacted and how to contact them. When creating our action plan,
don’t forget to look at what our high-leverage actions are, what resources are
needed, due dates, and key milestones.
6. Review and track your results.
The final step for a sales territory plan is to take the time to review and track
the results to optimize territory division. This is important for measuring
progress to see how the plan is impacting sales.
We will use our plan as a guide to produce intended results and fine-tune it on
a regular basis when needed.
