SUMMER TRAINING REPORT ON
“BUSINESS DEVELOPMENT”
Undertaken at
“PRINTPACK INNOVATIONS PVT. LTD.”
Submitted in partial fulfillment of the requirements
for the award of the degree of
BACHELOR OF BUSINESS
ADMINISTRATION
By
Srishti Gupta
10617701721
Vivekananda School of Business Studies
Vivekananda Institute of Professional studies
Guru Gobind Singh
Indraprastha University, Delhi
STUDENT DECLARATION
I Srishti Gupta, Enrolment No. 10617701721 from BBA-V Sem of the
Vivekananda Institute of Professional Studies, Delhi hereby declare that the
Summer Training Report (BBA 315) entitled “Business Development” at
“PrintPack Innovations Pvt. Ltd.” is an original work and the same has not been
submitted to any other Institute for the award of any other degree. A presentation
of the Summer Training Report was made on 6th December 2023 and the
suggestions as approved by the faculty were duly incorporated.
Date:
Signature of the Student:
Name of the student: Srishti Gupta
University Enrollment Number: 10617701721
BBA 2021-2024
Vivekananda Institute of Professional Studies
(Guru Gobind Singh Indraprastha University)
CERTIFICATE OF COMPLETION
Certified that the Summer Training Report submitted in partial fulfilment of
Bachelor of Business Administration (BBA) to be awarded by G.G.S.I.P. University,
Delhi by Srishti Gupta, Enrolment No. 10617701721 has been completed under my
guidance and is Satisfactory.
Date:
Signature of the Guide:
Name of the Guide: Dr. Isha Narula
Designation: Assistant Professor
TABLE OF CONTENT
Contents
Student Declaration..................................................................................... 2
Certificate of Completion .............................................................................................. 3
Internship Certificate ..................................................................................................... 4
Table of Contents .......................................................................................................... 5
Executive Summary .......................................................................................................6
Chapter: 1 Introduction ................................................................................................ 7-8
Background of the Study, Objective
Chapter: 2 Literature Review ...................................................................................... 9-13
Chapter: 3 Packaging industry in India. .................................................................... 14-22
Chapter: 4 Organizational Overview ....................................................................... 23-24
Chapter: 5 Business Development ............................................................................ 25-40
Chapter: 6 Recommendation & Conclusion ..............................................................41-42
Chapter: 7 References............................................................................................ 43-44
EXECUTIVE SUMMARY
In the dynamic field of business development, one of the pivotal aspects is Market
Research and Lead Generation. This holds true, particularly for companies specializing
in products such as paper bags, like PrintPack Innovations, where understanding market
dynamics and generating potential business leads are instrumental for growth and
sustainability. During my two-month internship at PrintPack Innovations, I had the
privilege of being actively involved in various facets of business development,
employing tools such as MS Excel, Canva, and Google Extensions.
The core of my responsibilities revolved around Lead Generation, where I engaged in
extensive data scraping, meticulously researching potential clients, and identifying key
market opportunities. Utilizing platforms like LinkedIn, I sourced valuable data to
create a comprehensive database that could be leveraged for future marketing
endeavours. The process involved not only data collection but also its effective
management, ensuring the accuracy and relevance of the information gathered.
Additionally, I played a crucial role in Content Development, crafting materials that
resonate with our target audience and showcase the unique offerings of PrintPack
Innovations. This involved understanding market trends, and consumer preferences, and
aligning our content strategy with the company's vision. By utilizing tools like Canva, I
ensured visually appealing and impactful content that contributed to our marketing
campaigns.
As part of my internship, I also engaged in Recruitment Activities, which involved
understanding the human resources landscape within the company. While not directly
related to business development, this exposure allowed me to appreciate the intricate
connection between workforce dynamics and organizational growth. Collaborating with
different departments, I gained insights into the company's culture and the importance of
aligning recruitment strategies with its long-term objectives.
The internship at PrintPack Innovations provided a holistic view of business
development, encompassing lead generation, data management, market research,
content development, and the interplay between recruitment and organizational culture.
Through this experience, I developed a proficiency in using various tools and honed my
skills in market analysis and strategic planning, equipping me with valuable insights for
future roles in the dynamic field of business development.
CHAPTER 1
INTRODUCTION
BACKGROUND OF THE STUDY
In the dynamic realm of contemporary business, the ongoing transformation of the
business world demands unwavering adaptability. As an integral component of a
company's structure, Business Development grapples with the immediate impacts of this
evolving business environment. The perpetual need for enhancements, unforeseen shifts
in labour force capabilities, and the imperative for synchronized efforts among team
members pose challenges that require astute anticipation and strategic responses.
Successfully navigating these challenges becomes a significant aspect of fostering
sustainable support for any organization, particularly when tasked with identifying and
mobilizing the most adept manpower within constrained time frames.
Just as in the broader context, the process of Recruitment in the business development
sector is akin to charting a course to discover suitable candidates for vacant positions
and encouraging their active engagement. Conversely, Selection entails the meticulous
task of selecting the optimal candidate from a pool of contenders and extending to them
the invaluable opportunity to contribute to the company's objectives.
Objective of the Report:
This report is meticulously crafted with the overarching goal of applying the acquired
knowledge in the realm of Business Development during the internship period at
PrintPack Innovations. The specific focus is on implementing the insights gained in the
intricate processes of Recruitment and Selection, bridging the theoretical foundations
with practical applications in the dynamic landscape of paper bag manufacturing.
Additionally, the report aims to unravel the intricacies of the Real Estate Industry in
India, providing a contextual backdrop for understanding the challenges and
opportunities within the paper bag industry. Furthermore, a critical objective is to gain
comprehensive insights into the operational dynamics of PrintPack Innovations,
particularly focusing on the company's unique working environment and the intricacies
of its Recruitment and selection Procedure. This exploration seeks to not only enrich
academic learning but also to contribute practical perspectives to the broader field of
Business Development in a specialized industry.
CHAPTER 2
LITERATURE
REVIEW
Business Development and its various facets play a pivotal role in shaping the success and growth of
organizations in today's competitive and dynamic business environment. This literature review aims to
explore key themes related to business development, focusing on aspects such as lead generation,
market research, content development, and the integration of technology tools.
The process of lead generation is foundational to business development, serving as the initiation
point for potential business opportunities. According to B2B International (2017), effective lead
generation involves identifying and cultivating potential customers who have expressed interest in a
product or service. This proactive approach not only fuels the sales pipeline but also contributes to
long-term business sustainability.
Market research is a critical component of strategic business development. Kotler et al. (2017)
highlight the importance of understanding market trends, consumer behaviour, and competitor
landscapes. A robust market research strategy empowers organizations to make informed decisions,
identify niche opportunities, and stay ahead in the ever-evolving business landscape.
Content development has emerged as a strategic tool for business development professionals to
engage with their target audience effectively. As emphasized by Pulizzi and Barrett (2015), creating
valuable and relevant content builds brand credibility, establishes thought leadership, and nurtures
relationships with potential clients. In the digital age, where information is abundant, compelling
content sets businesses apart in a crowded market.
The integration of technology tools has transformed the landscape of business development.
According to Singh and Hess (2017), tools such as Customer Relationship Management (CRM)
systems, data analytics, and marketing automation platforms streamline processes, enhance decisionmaking, and provide valuable insights into customer behaviour. Business development professionals
leverage these tools to optimize workflows and drive measurable results.
While traditionally associated with Human Resource Management, recruitment activities also play a
significant role in business development. As explored by Tolley and Bickerstaffe (2015), building a
high-performing team is integral to executing successful business development strategies. Effective
recruitment ensures that the organization has the right talent in place to drive growth, foster innovation,
and meet business objectives.
Successful business development often involves establishing strategic partnerships and alliances. As
highlighted by Doz and Hamel (1998), collaboration with other organizations can open avenues for
shared resources, expand market reach, and accelerate innovation. Developing and nurturing these
partnerships require a nuanced approach, emphasizing mutual benefits and long-term value creation.
Networking is a cornerstone of effective business development. Research by Uzzi (1996)
underscores the significance of building and maintaining professional relationships. Networking not
only facilitates lead generation but also provides access to valuable insights, industry trends, and
potential collaborators. The art of relationship building is integral to creating a robust business
ecosystem.
CRM systems play a pivotal role in managing and optimizing customer interactions throughout the
business development lifecycle. According to Rigby et al. (2002), CRM platforms enable businesses to
track customer preferences, streamline communication, and tailor products or services to meet specific
customer needs. The effective use of CRM enhances customer satisfaction and loyalty.
In the rapidly changing business landscape, agility is a key determinant of success. Research by
Highsmith (2001) introduces the concept of agile methodologies in business development,
emphasizing adaptability, collaboration, and a customer-centric approach. Agile methodologies allow
organizations to respond swiftly to market changes, iterate on strategies, and deliver value more
efficiently.
With the globalization of markets, businesses are increasingly exploring international opportunities.
Cavusgil et al. (2008) discuss the importance of formulating effective global business development
strategies. Understanding diverse markets, cultural nuances, and geopolitical factors becomes crucial
for organizations aiming to expand their footprint beyond domestic boundaries.
Data-driven decision-making is a prevailing trend in contemporary business development.
Davenport (2006) emphasizes the role of analytics and data insights in shaping strategic decisions.
Business development professionals leverage data to identify trends, assess the effectiveness of
marketing initiatives, and make informed choices that align with organizational goals.
Innovation is a driving force behind successful business development efforts. Christensen (1997)
introduces the concept of disruptive innovation, highlighting how businesses can gain a competitive
edge by introducing novel products, services, or business models. Embracing innovation is essential
for staying ahead in dynamic markets.
Effective business development encompasses a diverse range of strategies, including strategic
partnerships, networking, CRM utilization, agile methodologies, global expansion, data-driven
decision-making, and a commitment to innovation. The integration of these elements contributes to a
holistic and adaptive approach, essential for navigating the complexities of today's business landscape.
In summary, this literature review underscores the multifaceted nature of business development,
emphasizing the interconnectedness of lead generation, market research, content development,
technology tools, and recruitment activities. The integration of these elements forms the foundation for
strategic and sustainable business growth in today's competitive landscape.
CHAPTER 3
PACKAGING
INDUSTRY IN
INDIA
Introduction
Packaging is an essential component of almost every product. A product's packaging acts as an ‘eyecatcher’, allowing it to stand out from competing goods in today’s market environment, which faces
stiff competition, and therefore, an edge is required for the product to outshine its rival. Packaging is
also instrumental in conveying the product’s message to consumers and helps in establishing the visual
appeal of a brand; hence, marketers view product packaging as the best possible opportunity to attract
consumers to their product. Moreover, the product’s packaging is designed to capitalise on impulse
shopping behaviour, especially in large supermarket chains that account for a significant proportion of
purchases made by an average consumer. The main functions of packaging besides marketing are to
transmit information, protect the product, provide convenience and add security. Paper and paper
products are a major source of materials used to package goods. The paper finds application in
packaging due to the many environmental concerns arising from plastic usage. The capacity to recycle
paper more than once, along with how simple it is to deal with it as a waste product, serves as an
essential method of reducing pollution and costs to an extent.
Types of Packaging
The packaging industry can be categorised into two segments: flexible and rigid.
The rigid sector accounts for 36% of India’s total packaging. Corrugated and paperboard boxes are an
example of a rigid packaging category that is made using paper as a raw material. These boxes are
considered to be one of the safest and most effective methods for packaging and transporting goods
The cellular structure of corrugated boxes, in addition to being lightweight, has great compressive
strength, toughness and impact resistance. The procedure of lining, laminating or coating the boxes can
assist them to withstand moisture and other harmful elements, protecting the quality and longevity of
the product. The packaging of both industrial and consumer items requires corrugated board boxes.
They are used for packaging a variety of commodities including textiles, fruits, vegetables, potteries,
chemicals and pharmaceuticals.
The flexible sector comprises 64% of the total packaging. The application of paper in flexible
packaging is in the form of bags, sachets, envelopes and so on. The flexible pouch market, which
enables small-quantity packaging, has gained momentum due to demand for small packs. Compared to
other types of packaging, flexible paper packaging is less expensive, requires less material and is
lighter in weight. Flexible paper packaging has become more popular as a result of its high efficiency
and low cost. Flexible packaging is a crucial component of versatile packaging, which includes
packaging for food and drink, personal care, home care and healthcare, among others.
Source: MISSP and T&A Consulting
India Packaging Industry Overview
The paper and packaging sector in India is growing rapidly and has significant potential for future
expansion. The industry was valued at $50.5 billion in 2019 and is anticipated to reach $204.81 billion
by 2025, registering a CAGR of 26.7% from 2020 to 2025. The growth in the sector is being driven by
a surge in e-commerce, food processing, pharmaceuticals, FMCG, the manufacturing industry and the
healthcare sector. Additionally, numerous government initiatives including 'Make in India' had a
positive impact on the packaging industry. The paper and packaging industry is currently the fifth
largest sector in the Indian economy and has the potential to achieve pricing levels that are about 40%
cheaper compared to European regions.
The Indian packaging sector has distinguished itself with its exports of flattened cans, printed sheets
and components, crown cork, lug caps, plastic film laminates, craft paper, paper board and packaging
machinery. The packaging segment with the fastest growth includes laminates and flexible packaging,
particularly PET and woven sacks.
India uses paper as a major source of packaging. The paper industry accounts for 5% of global
production. Demand for paper continues to rise for the packaging of FMCG products and ready-to-eat
food. Packaging-grade paper accounts for 55% of the main types of paper produced domestically in the
paper and paperboard industry.
Pillars of Growth:
Growing Exports of Packaging Material
India is emerging as a key exporter of packaging materials in the global market. The export of
packaging materials from India grew at a CAGR of 9.9% to US$ 1,119 million in 2021-22 from US$
844 million in 2018-19. The US remains the major export destination for the packaging industry,
followed by the UK, the UAE, the Netherlands, and Germany.
Source: Directorate General of Commercial Intelligence and Statistics
Sectors of Application:
The packaging has applications in multiple sectors, two of which key sectors are:
Pharmaceutical: India boasts of one of the world’s largest pharmaceutical markets and therefore
produces a huge quantity of plastic pharmaceutical packaging to cater to the needs of the fast-growing
sector. In the pharmaceutical industry, blister packs are one of the most popular types of packaging.
Blister packs are used for tablets, ampoules, syringes and vials, and are also used for individual
packaging for medication doses while maintaining the integrity of other doses. Primary, secondary and
tertiary packaging are the three tiers of packaging typically used in the pharmaceutical sector, and the
type of application depends on the drug. The material that initially covers and holds the product is
referred to as the primary packaging system. This includes all the package elements and sub-elements
that come into contact with the product or that may have an impact on its duration of life, such as
ampoules and vials, prefilled syringes, IV containers and blister packs. Key players in the
pharmaceutical packaging include West Pharmaceuticals, Huhtamaki PPL Ltd and SGD Pharma India
Ltd.
Food and Beverage Packaging: India has seen a rise in the paper and packaging of food and beverages
with an increase in demand, along with new companies in the food and beverage space. The entry and
meteoric rise of food delivery service companies such as Zomato and Swiggy have led to growth in the
consumption of packaging used for food and beverages. Zomato had even introduced tamper-proof
packaging to keep the food safe and fresh. Food packaging has seen significant innovations that focus
on highlighting the brand while maintaining the quality and standard of the food product contained
within. There is intense competition among local manufacturers to produce cutting-edge products and
stand up to MNCs that have a dedicated R&D department to test and eventually deploy the latest
technologies. The major players in this space are Evirocor, Tetra Pak and Vinayak Ultra Flex.
Government Initiative
The government has launched the National Packaging initiative which focuses on the following
measures to promote the sector:
Set up guidelines and certain requirements for the design and material of packaging used
Promote the process of moving in bulk quantities
Focus on the promotion of centralised industrial activity by encouraging the application of necessary
and sophisticated infrastructure such as specialised logistic parks with appropriate facilities as well as
packaging labs to work on designs and carry out tests
Encourage processes to reduce packaging waste by establishing material recovery facilities (MRFs)
Support domestic businesses to manufacture sophisticated packaging materials
Develop training facilities and certified programmes of the highest order to maintain the availability of
skilled labour
Road Ahead
The Indian packaging sector is diverse and caters to a broad sector of industries and products. The
government, through its positive promotion of the Make in India policy, has set the packaging sector to
grow rapidly due to companies setting up their manufacturing units in the country and using these
domestic facilities as a base to export to other countries. The government has implemented a strategy
to lower tax rates for new manufacturing companies to turn India into a global manufacturing hub.
Furthermore, given the need for domestic firms to compete with MNCs, the government is planning to
further level the sector among players by launching various initiatives to promote the development of
packaging, along with technological advancements.
Packaging in India Market Analysis
The India Packaging Market size is expected to grow from USD 75.97 billion in 2023 to USD 128.36
billion by 2028, at a CAGR of 11.06% during the forecast period (2023-2028).
The demand for packaging in India has expanded drastically, spurred by the rapid growth in consumer
markets, especially in processed food, personal care, and pharmaceutical end-user industries.
Packaging is India's one of the fastest growing sectors. Over the last few years, the industry has been a
key driver of technology and innovation, contributing to various manufacturing sectors, including
agriculture and fast-moving consumer goods (FMCG). The packaging industry is driven by factors
such as rising population, increasing income levels, and changing lifestyles are anticipated to drive
consumption across various industries leading to higher demand for packaging product solutions.
Moreover, demand from the rural sector for packaged products is fueled by the growing media
penetration through the Internet and television.
The packaging industry in India is diverse and serves a diverse range of products and industries.
Companies have established manufacturing facilities in the country and used these domestic facilities
as a base to export to other nations due to the government's positive promotion of the Make in India
policy. The government has implemented a plan to lower tax rates for new manufacturing businesses to
transform India into a global manufacturing hub. In addition, the government intends to further level
the playing field in the industry by launching several initiatives to support the growth of packaging and
technological advancements, in addition to the need for domestic businesses to compete with
multinational corporations.
The packaging industry is paramount and vital in the international goods trade. Packaging may be
classified based on its type of use, which is primary packaging, secondary packaging, tertiary
packaging, and ancillary packaging. It is also segregated based on the types of materials used, such as
plastic, paper, paperboard, glass, and metals. Packaging is used across different end-user sectors in a
wide range of industries, such as food and beverage, healthcare, and cosmetics, among other end-user
industries. The study also analyzes the packaging machinery sector in the Indian packaging sector
landscape.
The market is expected to be significantly challenged due to fluctuation in raw materials pricing,
dynamic changes in regulatory standards, growing environmental concerns, limited effective recycling
of mixed plastic waste, ineffective plastic recovery, and a lack of modern and advanced machinery in
India for the packaging sector. The volatile trend in crude oil and demand for polymers in competing
applications has increased pressure on input costs that fluctuate raw materials prices. Recent
disruptions due to Russia's invasion of Ukraine and China's stringent Zero COVID-19 policy caused
substantial supply chain difficulties and aggravated the challenges for the packaging sector in India.
After the pandemic, there has been a lot of demand for packaging designs that are easy to sell and have
a strong sustainability story. This crucial trend has significantly contributed to the rapid transformation
of the packaging industry. Prior, shoppers were price-sensitive, but be that as it may, with the
pandemic ruling its dread, the centre has moved to health and hygiene. Product categories have
changed significantly due to this emphasis on hygienic packaging. Customers are willing to spend
more on a product if they believe it meets all packaging requirements.
Packaging in India Market Trends
Food Industry is Expected to Hold the Largest Share in the Market
According to the India Brand Equity Foundation (IBEF) in India, the Food and Grocery market
contributes almost 70% of the total retail sales. Departmental retail stores in the urban food market and
unit packaging n in the rural food markets are key drivers of flexible packaging in the country.
According to the USDA Foreign Agricultural Service, the number of traditional retail grocery outlets
across India in 2021 was 12.79 million and was expected to surpass 13.05 million by mid-2023. The
growing retail market is expected to boost the demand for flexible packaging in the food segment.
Furthermore, with the outbreak of COVID-19, the online ordering food segment witnessed significant
growth in the country as the country was under lockdown, which resulted in a sudden boom in the
online food sector and packed food products. The market size of packed food products drastically
increased and is also expected to grow to USD 3.4 billion by 2027, as per the reports of MARC India.
Major food delivery players across India, such as Swiggy and Zomato, expanded their base to tier two
and tier three cities. Containers, such as bowls, trays, and containers, increased prominently.
In addition, the Department for Promotion of Industry and Internal Trade of the Government of India
formed a private, nonprofit organization known as Open Network for Digital Commerce to create open
networks for e-commerce. In April 2022, it was established. Any network-enabled app is expected to
be able to identify and interact with local commerce across significant categories like supermarkets,
food delivery, hotel booking, travel bookings, and more due to this open network.
The drive to go sustainable has pushed many folding carton manufacturers to launch new products in
the market. The packaging solution providers also aim to launch innovative products for the dairy
segment. In March 2022, SIG India launched a similar aluminium-free folding carton aseptic
packaging to tap into the rising demand for carton-packaged milk products in the country.
The paper packaging business witnessed growth over the last decade due to changes in substrate
choice, new market expansion, ownership dynamics, and government initiatives to ban plastic.
Sustainability and environmental issues continue to be emphasized, and various innovations catering to
paper packaging are expected to drive the market's growth in India.
Packaging products in paper packaging comprises folding cartons, corrugated boxes, paper bags, and
liquid paperboard. With the considerable increase in organized retail, the demand for paper packaging
is anticipated to increase due to the rapid increase in supermarkets and modern shopping centres. In
June 2022, the Central Pollution Control Board (CPCB), a federal agency under the Ministry of the
Environment, released a list of steps to outlaw specific single-use plastic products by June 2022. Such
measures are anticipated to drive the demand for paper packaging in the country.
During the COVID-19 pandemic, the Indian e-commerce industry witnessed significant growth in the
volume of online orders due to restrictions imposed on the movement of people and the shutdown of
physical stores. People across the country increasingly bought online groceries, food items, and daily
essentials while also purchasing merchandise online. Corrugated packaging materials significantly
transported food, medicines, and medical equipment, which accelerated due to the rise in online
deliveries.
High prices of key input material, kraft paper, led to increased rates of corrugated boxes in India. This
is expected to hamper the market's growth in the forecast period. For instance, in February 2022, the
Kerala Corrugated Box Manufacturers Association (KeCBMA) proposed increasing the prices of
corrugated boxes due to the sharp increase in the cost of essential input materials used for the
manufacturing of corrugated boxes such as duplex board and kraft paper. The association said that the
cost of kraft paper, the essential raw material used for manufacturing corrugated boxes, increased by
more than INR 5 i.e. more than 6 US Cent in the last two months. The emerging situation forced the
association to increase the prices of corrugated boxes.
As sustainability grows, consumers are increasingly looking for 'green' products. For instance, Air
India and the Indian Railways are replacing plastic packaging with eco-friendly paper and planning to
use wooden cutlery to take a step toward sustainability. Many brands are basing their packaging
choices on the environmental implications that accompany them by shifting away from single-use
packaging and toward using compostable, recyclable, and reusable materials.
For instance, Godrej Consumer Product Ltd. committed to a sustainability target until 2025 to adopt a
circular economy and ensure efficient use of resources. This initiative includes 100% use of recyclable,
reusable, or compostable packaging and 10% use of post-consumer recycled content in plastic
packaging. Adopting an optimized packaging infrastructure can enhance brand appeal and increase the
demand for sustainable packing solutions.
Packaging in India Industry Overview
India's packaging industry is moderately fragmented due to the several players competing to improve
their market share. With the rising demand for packaging applications and technological advancement
across the Indian economy, many companies are increasing their market presence by expanding their
business footprint across various end-user markets.
In February 2023, under the slogan "YiPPee! - A Better World," ITC Limited's YiPPee! announced the
introduction of "Terra By YiPPee!" a new waste upcycling initiative scheme. The "Terra By YiPPee!"
business uses recyclable wrappers and reuses a variety of recycled YiPPee! wrapper to make ecofriendly lifestyle items, including laptop sleeves, totes, and stationery pouches.
In September 2022, Cosmo First Limited (previously Cosmo Films Limited) commenced the
production of specialized BOPET (Biaxially - Oriented Polyethylene Terephthalate) Films) in
Aurangabad, Maharashtra. The business previously announced setting up a new production line
producing specialized BOPET (biaxially oriented polyethene terephthalate) films with a capacity of
30,000 MT annually for installation in Aurangabad.
Packaging in India Market Leaders
ITC Limited
Jindal Poly Films Limited
Berry Global Inc.
Uflex Limited
Ball India (Ball Corporation)
Packaging in India Market News
February 2023: Cosmetics and hair care brand Revlon developed a new package for its 'Top Speed'
hair colour range exclusively for the Indian market. The brand unveiled a new visual identity for
products across India in the coming years.
May 2022: Huhtamaki set up its first recycling plant in Maharashtra, India, as part of its
CloseTheLoopinitiative. The site is spread across 2,000 square meters and has recyclers around 1,600
kg of post-consumer-used flexible plastic waste daily since it became fully operational. The recycling
plant was set up with an investment of USD 1.18 million as part of the Huhtamaki Foundation's
CloseTheLoopinitiative to tackle post-consumer waste and deliver a valuable secondary resource
material. It was expected to process post-consumer waste to create resin to produce refined compounds
for use in household products for consumers in India.
Packaging in India Industry Segmentation
Packaging is defined as the process of providing a protective and informative covering to the product
such that it protects the product during material handling, storage, and movement and also provides
useful information to all the related supply chain partners about the content of the package. Its
application can extend from primary, secondary, and tertiary to ancillary packaging.
The India Packaging Market is segmented by material (Plastic, Paper, Container glass, Metal Can and
Container), by End-user (Food and Beverage, Retail and E-commerce, Paints and Chemicals,
Industrial, Personal Care and cosmetics, and Other End-users). The market sizes and forecasts are
provided in terms of value (USD) for all the above segments
Facts and Figures
According to the Packaging Industry Association of India, the Indian packaging industry was the fifth
largest in the world in 2016. The Indian packaging industry, which constitutes about 4 per cent of the
global packaging industry, has been growing at an annual rate of 18 per cent and is expected to touch
$73 billion by 2020.
The per capita packaging consumption in India is quite low at 8.6 kg, compared to countries such as
Germany and Taiwan where it is 42 kg and 19 kg, respectively. However, organized retail and a boom
in e-commerce, which offer huge potential for future growth of retailing, are giving a boost to the
packaging sector.
India has 22,000 packaging units that operate in the area of glass, plastic, paper, metal and corrugated
packaging, 85 per cent of which are SMEs. These packaging companies further focus on four different
categories materials, converting industry, machinery and ancillary. Packaging growth is directly linked
to GDP growth.
CHAPTER 4
PRINTPACK
INNOVATIONS
PVT. LTD.
INTRODUCTION:
Printpack Innovations Pvt Ltd passionate about creating a more sustainable world
through our eco-friendly and sustainable packaging solutions. Established in 2015, the
mission is to be the leading manufacturer and supplier of paper bags, disposables, and
related products that make a positive impact on the environment. With our cutting-edge
automatic conversion line for paper bags, made right here in India, and a team of experts
with over 40 years of combined experience in the paper industry, we know how to create
top-notch packaging solutions. If you're looking for something truly unique, they offer
custom printing services to bring your brand vision to life. They believe that
sustainability is more than just a buzzword, it's a way of life. That's why they're
committed to providing packaging solutions that are not only good for the planet but
also good for your brand. Their products and services are designed with the environment
in mind, so you can feel confident that you're making a positive impact every time you
choose Print Pack Innovations.
Office Address: 1674, Industrial Area, Rai, Sonipat, Haryana 131029
Company Number: 098116 23456
Chapter 5
Business
Development
Introduction to Business Development:
Business Development (BD) is a multifaceted discipline that encompasses strategic planning,
relationship building, and activities aimed at fostering growth and profitability within an organization.
It goes beyond traditional sales and marketing, involving the identification of new business
opportunities, the cultivation of strategic partnerships, and the creation of long-term value for the
company.
Business Development: An In-Depth Exploration
Strategic Vision and Planning:
At the heart of business development is the cultivation of a strategic vision that aligns with the
organization's long-term goals. This involves comprehensive planning, which includes setting
objectives, outlining key performance indicators, and developing a roadmap for achieving sustainable
growth. The strategic planning phase is dynamic, requiring adaptability to respond to evolving market
conditions and emerging opportunities.
Market Penetration and Expansion:
Business development encompasses the identification and execution of strategies to penetrate existing
markets and expand into new ones. This involves a thorough analysis of market dynamics, customer
segments, and competitive landscapes. Strategies may include targeted marketing campaigns, product
diversification, or geographical expansion, all aimed at maximizing the organization's market share and
profitability.
Customer-Centric Approach:
A pivotal aspect of business development is the cultivation of a customer-centric approach.
Understanding customer needs, preferences, and pain points is essential for creating products and
services that resonate with the target audience. This involves gathering and analyzing customer
feedback, conducting market research, and fostering a culture of continuous improvement to enhance
the overall customer experience.
Strategic Partnerships and Alliances:
Successful business development often hinges on the establishment of strategic partnerships and
alliances. Collaborating with other businesses, industry leaders, or complementary service providers
can open new avenues for growth. These partnerships may involve joint ventures, licensing
agreements, or co-marketing initiatives, fostering mutually beneficial relationships that contribute to
overall business success.
Innovation and Adaptation:
In an ever-evolving business landscape, innovation and adaptability are critical components of business
development. This includes staying abreast of technological advancements, industry trends, and
consumer behaviours. Organizations must foster a culture of innovation, encouraging employees to
explore creative solutions, embrace change, and proactively address challenges to maintain a
competitive edge.
Data-Driven Decision-Making:
Business development relies heavily on data-driven decision-making processes. Leveraging analytics
tools and metrics, organizations can gain insights into market trends, consumer behaviour, and the
performance of various strategies. This data-driven approach enables informed decision-making,
allowing businesses to optimize their processes, allocate resources efficiently, and respond strategically
to emerging opportunities or threats.
Sales and Revenue Optimization:
While business development extends beyond traditional sales, optimizing sales processes remains a
crucial aspect. This involves the identification of target markets, lead generation, effective sales
strategies, and the continuous refinement of the sales funnel. The goal is to not only acquire new
customers but also to maximize customer lifetime value through upselling, cross-selling, and
maintaining strong customer relationships.
Risk Management and Mitigation:
Business development professionals must navigate a landscape fraught with uncertainties and risks.
This involves identifying potential risks, assessing their impact on business objectives, and
implementing strategies to mitigate or manage these risks effectively. Proactive risk management
ensures the organization's resilience in the face of challenges, fostering sustainable growth in the long
run.
Corporate Social Responsibility (CSR) Integration:
In contemporary business development, the integration of Corporate Social Responsibility (CSR) is
gaining prominence. Organizations are increasingly recognizing the importance of contributing
positively to society and the environment. CSR initiatives not only enhance the organization's
reputation but also align with changing consumer expectations for socially responsible business
practices.
Continuous Evaluation and Improvement:
The business development process is iterative and requires continuous evaluation and improvement.
Regular performance assessments, feedback mechanisms, and post-implementation reviews help
organizations refine their strategies, adapt to changing circumstances, and foster a culture of
continuous learning and improvement.
In essence, business development is a multifaceted discipline that transcends conventional boundaries.
It encompasses strategic planning, customer-centricity, innovation, and adaptability, all working in
concert to drive sustainable growth and success. As organizations navigate the complexities of the
business landscape, a holistic and dynamic approach to business development becomes indispensable
for long-term viability and prosperity.
Business development (BD) is a strategy used to find new prospects and nurture them to help drive
business growth.
According to Forbes, business development is “the creation of long-term value for an organization
from customers, markets, and relationships.” That’s a simplified definition, and it still faces the hurdle
of trying to encompass the massive range of responsibilities that go into BD. Every effort involved in
business development is an activity that helps make a business better. But one could argue that that
definition describes every action of every employee.
So, what makes business development different?
The easiest way to understand BD is to look at it as the umbrella that works to improve all other
departments. Though BD isn’t sales, it helps improve sales; it’s not marketing, but it improves
marketing.
Sales vs. business development
When it comes to sales development, there’s a more significant focus on researching and identifying
leads and pushing them through the sales process to close a deal.
Business development involves finding new ways to grow and forming partnerships that can help open
doors to fresh markets and opportunities.
What is new business development?
New business development means an existing company is developing a plan to introduce a new
product or service under a new business model in a relatively unknown market. It’s aligned with
business development because it seeks to expand and generate more revenue for the company. It has its
title because it can be a radical and risky approach.
Unlike normal business development, new business development takes the company outside its
comfort zone and tries a tactic the company hasn’t previously attempted.
Example: A sit-down restaurant that exclusively serves dine-in guests employs new business
development when it starts offering delivery or partners with a food delivery service like Grubhub.
Business development representatives and their roles
Employees who work for your biz development department are called business development
representatives, or BDRs.
BDRs work with nearly all your departments as they search for and implement new strategies, targets,
prospects, and tactics for your company. Since BDRs work with many people and have varied skill
sets, they need to come to the table with specific experiences and qualities.
Given the wide scope of responsibilities, it’s impossible to list all the activities that go into business
development. That said, here are the key tasks your BD team will likely focus on:
Researching industry trends, company history, competitors, and prospects
Stakeholder mapping
Identifying growth opportunities
Brainstorming strategies
Experimenting
Lead generation and qualification
Prospecting
Cross-departmental project management
Partnership management
Data analysis
Business development strategy overview: How to create one in 10 steps
BD activities revolve around implementing a business development strategy. But how do you create
that strategy?
All BD strategies begin with a plan and goals—start developing your business development strategy by
following the steps below:
1. Craft an elevator pitch
You need a concise 30-second pitch for any plan, including a BD plan. Want to go the extra mile?
Craft several sales pitches and see which ones are most effective. You’ll be able to pitch while
simultaneously conducting market research.
An elevator pitch summarizes what your business does, who you serve, and how your business differs
from competitors. The goal of your elevator pitch is to open up the conversation about how you can
serve your customers. When crafting your pitch, here are some best practices to follow:
Be brief
Use clear language
Be specific
Include a call to action.
2. List your SMART goals
The SMART system is a great tool for business development goals. SMART goals are those that are
Specific, Measurable, Attainable, Relevant, and Timely. For example, a good SMART goal for a
business development strategy could be:
“I will aim to improve first-response time for customer issues by increasing the number of customer
service staff from 10 to 15 people in the next three quarters.”
By following the SMART system, you’ll keep your goals aligned with those of other departments and
ensure they’re achievable with your current resources.
3. Perform a SWOT analysis
SWOT analysis stands for Strengths, Weaknesses, Opportunities, and Threats. It’s an effective tool for
business development because it helps you pinpoint your growth areas. The best way to use SWOT is
to pick a specific aspect of your business to analyze. When conducting a SWOT analysis, keep these
questions in mind:
What needs do our services/products solve for a customer?
What is our value proposition?
Are there any obstacles in the way of achieving goals?
You can also pair this with a positioning statement to help guide your analysis.
Example: If you’re looking to launch a new product, you can look at what your company does well,
what it does poorly, where it might be missing opportunities, and what other companies might be doing
better.
4. Define your audience
Next, define your target audience—this can help you determine who you want to attract as potential
new clients. While you want to get specific about who to target, avoid getting so specific that you run
out of prospects. You can do this by:
Analyzing competitors
Creating personas
Identifying industry trends
5. Conduct market research
Perform research to determine who your competitors are and what your customers want and need. You
should know your customers’ problems and how you can solve them.
You can gain valuable insights into your audience’s needs through customer surveys. Eighty per cent
of companies that see year-over-year growth use surveys to collect customer experience data. Here are
tips for creating a survey:
Determine the goal of your survey
Make sure your questions are unbiased
Send surveys through relevant channels
Keep them short and to the point.
6. State your KPIs
To evaluate your plan’s success, you need to identify measurable data points through which you can
document positive (or negative) outcomes. You can do this through key performance indicators (KPIs).
Depending on what you’re assessing, these KPIs can range from revenue changes to leads and
conversion rates. The important thing is that you choose specific KPIs to complement your plan. Some
biz dev KPIs include:
Opportunities created
Proposals sent
Sales activities performed
Client acquisition rate
Deals closed
7. Plan a budget
Possibly the most important aspect of your plan is your budget. Your company must be able to afford
your plan before approving it and starting implementation.
Keep your proposed budget realistic, but don’t be afraid to push. After all, if your plan works, you
should be able to make that money back. Be sure to include these elements in your business budget:
Balance sheet
Cash flow statement
Income statement
8. Focus on strong customer service
High-quality customer service should be top of mind—it could be the difference between a customer
choosing you over a competitor.
Maintain good customer support with existing customers, too, to ensure you build a lasting relationship
with them. Plus, if they continually have positive experiences with your team, they may refer other
contacts to your business.
9. Incorporate a sales plan
A business development strategy isn’t whole without a sales plan. A sales plan helps outline your sales
strategy and includes:
Your company goals and objectives
A strategy on how to achieve those goals
Team roles and responsibilities
Performance monitoring and benchmarks
Although this is centred around the sales team, it can provide your biz dev team with helpful insights.
10. Implement a process
Once you have a solid plan, implementation ideally becomes a mere matter of assigning and
supervising. The steps for implementation are going to vary based on your plan’s parameters, but here
are a few things to keep in mind when you launch:
Hold regular meetings: Lead cross-departmental status meetings to keep everyone on the same page.
Streamline communication: Centralize communication and simplify data access with appropriate
software, including lead generation software and sales force automation (SFA).
Don’t rush it: Remember that it’s a marathon, not a sprint. Business development is about long-term
growth, so look at trends rather than sweating over the roller-coaster of monthly numbers.
Ensure your BD plan aligns with individual department plans: Sales managers are also responsible for
setting goals for their team, and those goals are just as important as yours. Clear communication
and SFA software can ensure your goals aren’t working against each other.
Use a CRM to align your business development plans
Business development is all about facilitating communication between departments to achieve new
business goals. The best way to align your company with a unified vision is through a CRM.
With a simple CRM like Zendesk Sell, communication between your business development team and
all other departments becomes effortless. Plans can move and adjust in real-time in response to
everything from marketing clicks to sales tracking. (If you’re new to the CRM world, we’re happy to
walk you through it with our CRM software explainer.)
Your BD team already has a thousand things to juggle every day, so why make their lives harder?
Request a demo of Zendesk Sell today to keep your biz dev team—and your business—ahead of the
competition.
Conclusion:
In conclusion, business development is a holistic and dynamic discipline that intertwines strategy,
relationship-building, innovation, and adaptability. It is a continuous and multifaceted process that
involves various components and necessitates a comprehensive understanding of market dynamics and
organizational goals. Successful business development requires a combination of strategic vision,
effective communication, and the ability to navigate challenges in an ever-changing business
landscape.
BUSINESS DEVELOPMENT AT PRINTPACK INNOVATIONS
I embarked on a two-month internship at PrintPack Innovations, a leading player in the packaging
industry. This report encapsulates my immersive experience in the dynamic field of business
development, emphasizing strategic vision, market insights, and innovation in the packaging
landscape.
Understanding Market Dynamics:
The internship commenced with an in-depth exploration of market dynamics. Through immersive
workshops and mentorship sessions, a comprehensive understanding of industry trends, consumer
behaviours, and challenges facing PrintPack Innovations was acquired. This foundational knowledge
sets the stage for crafting impactful business development strategies.
Customer-Centric Approach:
A pivotal aspect of business development, as evident in my internship, is a customer-centric approach.
Active participation in client meetings and feedback sessions provided firsthand insights into
deciphering client needs. The emphasis was not merely on meeting expectations but surpassing them
through personalized and innovative packaging solutions.
Innovation in Packaging:
A highlight of the internship was being part of the ideation and implementation process for innovative
packaging solutions. Collaborating with the Research and Development team, I contributed to
brainstorming sessions, exploring sustainable materials, and interactive packaging concepts, and
staying abreast of technological advancements. The experience underscored PrintPack Innovations'
commitment to redefining industry norms.
Forging Collaborations for Growth:
PrintPack Innovations thrives on strategic collaborations, and my internship included active
involvement in projects concerning partnerships, supplier collaborations, and industry alliances. This
exposed me to how such collaborations amplify the company's capabilities and contribute to its growth
trajectory.
Eco-Friendly Initiatives and Corporate Social Responsibility (CSR):
A significant component of my internship involved participating in eco-friendly initiatives and CSR
activities. This experience underscored the importance of aligning business development with global
sustainability goals. PrintPack Innovations' commitment to responsibility became an integral part of
my learning journey.
Digital Transformation and Technological Integration:
The internship offered comprehensive exposure to the digital transformation journey in the packaging
industry. Projects involving augmented reality, smart packaging, and digital printing provided practical
insights into the integration of digital solutions. This experience wasn't just observational; it involved
active contributions to the company's technological strides.
Continuous Improvement and Flexibility:
PrintPack Innovations' culture of continuous improvement became a guiding principle throughout the
internship. Actively participating in post-implementation reviews, providing constructive feedback,
and witnessing the adaptability of strategies based on real-time data underscored the iterative nature of
business development.
Conclusion:
This internship at PrintPack Innovations transcended the conventional boundaries of learning. It was
not merely a theoretical exploration of business development; it was an immersive journey where I
actively contributed to shaping the future of packaging. The hands-on experience, coupled with
mentorship and collaborative projects, allowed me to meaningfully contribute to the company's growth
story. This report encapsulates not just the theoretical underpinnings but the practical application of
business development principles within the vibrant realm of PrintPack Innovations.
CHAPTER 6
RECOMMENDATION &
CONCLUSION
RECOMMENDATION
After a comprehensive analysis during my business development internship at PrintPack Innovations, I
would like to propose several recommendations for the organization's future enhancement:
1. Strengthening Market Presence:
The business development team should focus on fortifying PrintPack Innovations' market presence.
This involves targeted marketing campaigns, participation in industry events, and leveraging digital
platforms to showcase the company's capabilities. This approach will help in expanding the client base
and creating a lasting impression in the competitive landscape.
2. Diversification of Product Offerings:
To cater to evolving market demands, PrintPack Innovations could consider diversifying its product
offerings. This may involve exploring innovative packaging solutions, introducing eco-friendly
alternatives, or adapting to emerging trends in the packaging industry. Diversification can enhance the
company's competitiveness and open up new avenues for revenue generation.
3. Strategic Partnerships and Alliances:
Forming strategic partnerships and alliances with key players in the industry can significantly
contribute to the company's growth. Collaborative ventures, joint ventures, or alliances with
complementary businesses can provide access to new markets, technologies, and resources. PrintPack
Innovations should actively explore such opportunities to expand its reach and capabilities.
4. Investment in Technology:
To stay at the forefront of technological advancements in the packaging sector, PrintPack
Innovations should consider making strategic investments in cutting-edge technologies. This could
include the adoption of smart packaging solutions, automation in manufacturing processes, or the
integration of data analytics for better decision-making. Technological advancements can enhance
operational efficiency and product innovation.
5. Employee Training and Development Programs:
Recognizing the significance of human capital, PrintPack Innovations should invest in
comprehensive training and development programs for its employees. This can include skill-building
initiatives, leadership development programs, and continuous learning opportunities. A well-trained
workforce is essential for maintaining a competitive edge and adapting to industry changes.
CONCLUSION
Reflecting on my internship experience at PrintPack Innovations, several key takeaways have emerged:
1. Dynamic Nature of Business Development:
The business development process is dynamic and multifaceted, requiring continuous adaptation to
changing market dynamics. This internship has highlighted the importance of staying agile and
responsive to industry trends.
2. Client-Centric Approach:
A client-centric approach is crucial in business development. Understanding client needs, fostering
strong relationships, and delivering personalized solutions are integral aspects that contribute to longterm success.
3. Innovation as a Catalyst:
Innovation catalyzes growth. PrintPack Innovations' commitment to innovation has underscored the
importance of staying ahead of the curve, whether through technological advancements, sustainable
practices, or product diversification.
4. Strategic Importance of Partnerships:
Strategic partnerships and alliances play a pivotal role in business development. Collaborating with
industry stakeholders and forming mutually beneficial partnerships can unlock new opportunities and
propel the organization forward.
5. Continuous Learning and Adaptation:
The business landscape is ever-evolving, requiring a commitment to continuous learning and
adaptation. This internship has emphasized the importance of staying informed about industry changes
and proactively adjusting strategies.
In conclusion, my internship at PrintPack Innovations has been a valuable learning experience,
providing insights into the intricacies of business development. The recommendations outlined aim to
contribute to the organization's growth and sustainability in an ever-changing business environment.
CHAPTER 7
REFERENCES
⦿ https://www.linkedin.com/company/printpackipl?originalSubdomain=in
⦿ https://www.printpackipl.com/
⦿ https://www.zendesk.com/in/blog/business-development/
⦿ www.wikipedia.com