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Haldiram’s in India
Abstract
The Indian snack market is a promising and booming sector with a surge in consumer consumption of an array of snacks. The market has been growing since several years, but the past 2 years have been marked by notable growth. A leading player in the snacks industry, Haldiram’s, an already prevalent name in India, has been catering for the needs of the evolving consumer demand patterns since 1937. This case starts with a description of India’s snacks market and Haldiram’s standing as a company with dominant market share. In addition to discussing the competitive landscape and challenges, the case evaluates Haldiram’s offerings using the 7Ps (product, place, price, promotion, people, physical presence and processes) of marketing mix and growth strategy options using Ansoff Matrix. As Indians are getting introduced to new global delicacies and flavors, their taste buds are changing, and a certain group of consumers are shifting towards healthy snacking options. The case sheds light on this whole new dimension and how Haldiram’s can keep pace with evolving trends in the snacking industry.
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Recognising the greater variety and sophistication of product innovation strategies to target existing and previously untapped markets, the author presents an extended version of the Ansoff product-market expansion grid that highlights the different approaches for developed world and emerging markets. The proposed model consists of seven distinct categories of growth options and depicts alternative strategic possibilities within each category, where appropriate. Categories that are new to the matrix include resource-constrained innovation, necessity innovation and reverse innovation. Necessity innovation is a new concept and a special case of user-innovation, defined as innovation by resource-constrained consumers in emerging markets to serve their own unmet needs. Utilising recent industry examples from a variety of media, the author demonstrates the traits of each strategic approach to grow revenue streams through product-market innovation.
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