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Innovative Retailing & Way Forward: A Project Report On
Innovative Retailing & Way Forward: A Project Report On
Submitted to
SYNOPSIS
Objectives 1. To analyze the concept of JSW Shoppe. 2. Recommendations for effective operation of JSW Shoppe.
Methodology Primary data JSW Steel limited Feedback from Shoppe owners Questionnaire
Tools - questionnaire
TABLE OF CONTENT
II RESEARCH METHODOLOGY III RESULT DISCUSSION IV SUMMARY OF FINDINGS V CONCLUSION & RECOMMENDATION VI QUESTIONNAIRE
Introduction
JSW is part of US $8billion OP JINDAL group. Under the dynamic and visionary leadership of MR. SAJJAN JINDAL, JSW is US $ 3.7 billion group with its presence cross various sectors- steel, energy, minerals, port and infrastructure, cement, aluminum and IT.
JSW STEEL is the largest private steel producer in India with manufacturing facilities in Karnataka, Maharashtra and Tamil Nadu. JSW STEEL has established a strong presence in the global value added steel segment with acquisition of steel mills in US and service centre in UK. JSW STEEL has also formed a joint venture for setting up a steel plant in Georgia. It is engaged in manufacture of flat and long products viz pellets, slabs, HR plates/ coils/sheets, CR coils/sheets, galvanized and galvalume plain and color coated coils/ sheets/profiles, bar, rounds and rebars. The product range caters to a gamut of industries in white goods, automobiles and construction sectors. It has largest galvanizing capacity in India and also the largest Indian exporter of galvanized products with presence in 108 countries.
MISSION OF THE COMPANY By 2020 the company would be producing 32million tons of steel annually with Greenfield integrated steel plants coming up in west Bengal and Jharkhand.
RESEARCH METHODOLGY
Any research project can adopt the following method of data collection for secondary data: Internet: Internet is very useful tool in the collection of data. Internet provides different search engines through which you can get the relevant information of the topic.
Brochures: It is a good source of data collection. Through brochures you get to know the recent changes and developments occurred on a particular product.
The methods used for data collection for primary data are: Questionnaire: It is one of the most versatile tools. It includes questions of different aspects of the subject of study. It is used in cases where the subject of study is very wide and direct observation I not possible. It requires the respondent to answer one or other category.
Personal Interview: Personal interviews are a way to get in depth and comprehensive information. They involve one person interviewing another person for detail information. During the course of discussion information and facts are gathered and in the interview the questions are predetermined but they are not asked in a definite order.
Statistical analysis of data: Data obtained during the study was analyzed using standard statistical methods. The data is converted into tools and presented in the
form of bar, line graphs, pie charts and interpretations are completed with the help of tables and charts..
(i)
Sampling Units: The sampling unit for the research project is listed below: Shoppe owners
(ii)
Sampling Size: The sampling size out of this data was collected from 16 Shoppe owners. Personal interviews yielded much better results.
Shoppe name Shreeji industries yogi corporation k d oswal m s traders jai associates s r s industries Bangalore steel distributors Raibagi steels pvt ltd steel sales and supplies anupam sales diamond ispat pvt ltd Hindustan traders steel trading co puja ispat trading pvt ltd shree ji steels Jay hind steel syndicate
location solapur sangli kolhapur ahmednagar ahmednagar tamilnadu Bangalore belgaun Chennai Allahabad lucknow ahmedabad surat jharkhand faridabad ahmedabad
Feedback collected with the help of questionnaires: Experience of Shoppe owners with JSW
31.25%
31.25% 25.00%
12.50%
excellent
good
ok
worst
80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% agree disagree no change 6.25% 25.00% 68.75%
75.00%
25.00%
yes
no
Sales level
60.00% 50.00% 40.00% 31.25% 30.00% 20.00% 10.00% 0.00% increased decreased no change 6.25% 50.00%
60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% increased decreased no change 18.75% 25.00% 50.00%
62.00%
25.00%
6.25%
easy
difficult
no change
Quality of products
40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% excellent good average 12.50% 12.50% 25.00%
37.50%
worst
Availability of material
50.00% 45.00% 40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% good satisfactory worst 6.25% 37.50% 43.75%
Pricing
40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% better than competition higher than competition 18.75% 25.00%
37.50%
competitive
90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% 6.25% good poor 81.25%
60.00% 50.00% 40.00% 31.25% 30.00% 20.00% 10.00% 0.00% good poor 50.00%
Suggestions given by the Shoppe owners Improve supply of the products such as HR as hr is still supplied to its assigned dealers only and not to the Shoppe owners. PPGI should be supplied directly to the Shoppe owner as the service provider is harassing the Shoppe owners and supplying them the product even after the payment ha been made. Product packaging and marking of thickness of the product has to be improved. Educate engineers related to products such as wire rod and TMT, as they can then suggest the
Laymen about JSW products and this would lead to boost sales in particular areas. Seminars about products to inform people and industry buyers the features of the products and also to establish the JSW brand in the market.
SUMMARY OF FINDINGS
From the data collected and analyzed we have found out the following:
The marketing and promotional activities on the part of JSW, related to Shoppes are very poor. The availability of products is posing a problem for the Shoppe owners. Unless timely supply of products is not ensured, dealers will continue to be dissatisfied. Service provider of the product PPGI (COLOUR COATED)is harassing the Shoppe owners by delaying the supply of the product at their Shoppe, even though the payments are made in advance. Quality and packaging of products is also a matter of concern for the company as it is not up to the standards (worsening), since last two years. Pricing of the product being high the Shoppe owners are dissatisfied
Train employees at Shoppe: they must have complete product knowledge of the products available in the Shoppe. They must be provided with uniforms featuring the logo of JSW, to create brand awareness. This will also lead to standardization of sales pitch. Online ordering system: Shoppe owners should be provided with id and password on JSW.IN so that they can log onto the site and order the products according to their demand as this saves time and occurrence of errors can be reduced and will also enable them to track their orders.
Hoardings. Hoardings act as an essential tool for promotional activity which is necessary for the company as it guides people and makes them aware about the JSW Shoppe present in the area near them. . Consumer scheme Various schemes should be launched to benefit the customers at their bulk purchases from time to time. Dealers meet at least once in 3months This is a need as it motivates them and makes them feel important for the organisation. Television advertising As visual aid is best effective tool to create brand awareness amongst masses and it will also help people to know about the existence of JSW Shoppe which has all steel products under one roof.
VISUAL AID IS THE BEST MEANS OF ADVERTISING IN RURAL AREAS AS PEOPPLE IN SUCH AREAS ONLY BELIEVE WHAT THEY SEE ACTUALLY SO WALL PAINTINGS, HAAT HANGAMA, NUKKAD NATAK, MOBILE VAN, PERSONAL DEMONSTRATION WOULD BE THE BEST ACTIVITIES TO PROMOTE AND CREATE A BRAND IN THEIR MINDS.
QUESTIONNAIRE
1. 2. 3. 4. JSW Shoppe Name Name of Respondent Age of Shoppe Location : : : : ______________________________________ _____________________________________ ____________ years _______________________________________
HRP
CRCA / HRPO
GP
GC
GLP / GLC
PPGI / PPGL
TMT
Wire Rod
_________years
For how many years have you been associated with JSW?
___________years
In few words how would you narrate your experience with JSW? ____________________________________________________________________________
Express your views about the changes that you have observed before Shoppe and after Shoppe about following things Changes Sales level Customer footfalls Your excitement of association with JSW. Easy to convince customers. Before Shoppe After Shoppe
What would you do if you were the owner of JSW to promote the Shoppe concept?
How do you foresee JSW Shoppe Concept in near future: (Tick only ONE?) a. I feel steel industry will become more structured , which will help me in future b. I feel steel will keep selling the way it has been from years c. Dont Know / Cant say
Do you sell to small OEMS also? If yes which all segments? Yes/No __________________________
Statements It has helped me in increasing footfalls It has helped to build reputation in market It has increased my product basket I feel above the other traders in the market by opening JSW Shoppe.
Agree
Disagree
Have you seen the facilities of JSW Steel Ltd at the following locations? A) B) C) D) Vijaynagar Tarapur Vasind Salem yes / no yes/no yes/no yes/no
What are good points you would like to mention about JSW Shoppe. (Be as specific as you can. Please use additional sheets if required)
What are the other products that they are selling from their Shoppe apart from there main line products?
What do you feel as scope of improvement in JSW Shoppe? (Be as specific and frank as you can. Please use additional sheets if required)
Is there a computer installed at your Shoppe?(if computer is at any other location please say no)
Is there a landline present at your Shoppe?(please be specific about your Shoppe) If yes landline no is
Which are the products that you are selling from your JSW Shoppe? Please specify the average sales of that particular product? PARAMETERS: SUPPLY PRICE QUALITY MARKET POTENTIAL IN YOUR AREA
HR Coil HRP
CRCA/HRPO
Ton
GP
Ton
GC GLP/GLC
Ton Ton