Kumar Food Corporation: Product and Market Growth Strategies
Kumar Food Corporation (KFC) was a partnership firm founded in the state of Maharashtra in India by Neeraj Kumar in 2010. The company manufactured, packaged, and distributed pickles, papads, and spices. Kumar, who had previously worked at a multinational company specializing in food processing, quit that job to start his own venture with an investment of 1 million. The company flourished and, in 2017, its revenue reached 50 million. Kumar then wanted to invest another 50 million with the aim of reaching a 200 million revenue target by the end of 2018. The company faced cutthroat competition from existing players in the food-processing industry, and Kumar was worried that the Government of India's Start-Up India initiative to promote entrepreneurship would further add to the competition. With a limited budget for marketing and communications, Kumar could take any or all of the following routes to fulfill his expansion ambitions: enhance product category, add new markets, or increase distribution channels. Which growth strategies should the company implement to establish its Shagun brand? Prashant Salwan is affiliated with Indian Institute of Management Indore. Shailesh Pandey is affiliated with University of Pune. Milind Marathe is affiliated with Sinhgad Institute of Management and Computer Applications.