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A PROJECT REPORT On Bajaj Electricals Submitted in partial fulfilment for the degree of Bachelor of Business Administration,

GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY. By Shubham Pal BBA (2010-2013) IDEAL INSTITUTE OF MANAGEMENT & TECHNOLOGY
DELHI-110092

INTRODUCTION

INTRODUCTION
The behaviour is characterized by the uniqueness of individual expectations, the preference for multiple options, propensity to abandon brand loyalty and switch to competing brands that give higher value. The new breed is willing to import to satisfy specific requirement It is difficult to clarify this generation by conventional demographic factors and unless their thought process and buying behavior are fully understood, decisions on product designs and packaging, branding and distribution channels are likely to be misplaced. With the inevitability of change looming large over horizon, Indian companies must learn from their western counterparts; not only to identify the sources, timing and direction of the changes likely to effect. India, but also the new competencies and perspective that will enable them to respond to these changes comprehensively and effectively. Companies offering product or services will need to understand this new face of the customers. The changing demographic profile of the population in terms of education, income, size of the family and so on, are important but what will be more substantive in days to come will be the psychographics of the customer ice how they feel , think or behave. Marketers will have to constantly monitor and understand the underlying psycho graphics to map their respective industries are moving and decide what needs to be done, by way of adding value that motivates customers to buy the company's products and influence the future industry structure.

Consumer durables like fan, bulbs, tube lights, geysers play an important role for a small sweet home to a multipurpose project. To market the -- ct and to establish brand loyalty, a good marketer has to go to real customers. The behavior differ one from another. It is essential to know their decision process, the factors influencing their behavior, the competitors marketing strategy and position in the market.

On going through the market survey, I found different types of dealers trough which I can able to analyze the behavior of customers towards geysers, their decision regarding the purchase of geysers, choice of brand, company and its benefits.

MAJOR FACTORS INFLUENCING CONSUMER BEHAVIOUR: The major factors that influence the consumer behavior are: Product Price Place Promotion mix PRICING AND MARKET SHARE: Pricing is undoubtedly one of the most important decision areas of marketing. Price and sales volume together decide the revenue of any business. As the sales volume in itself is dependent on price, pricing really becomes the key to the revenue of the business. Pricing is crucial to pro I-] is as well. Pricing becomes the

vital decision area on account of certain other factors besides its crucial role in bringing revenues and profits to the business. PRICING METHOD/PRICING STRATEGIES: There are several methods of pricing: Cost based pricing Demand based pricing

Competition based pricing

Product line oriented pricing

Differentiated pricing

MARKET SHARE: Market share constitutes the total market captured by Bajaj electrical limited in the whole consumer durable industry. During my survey I found out that the market share in different areas are different because of different geographical regions, climate and number of different companies.

The market share is determined by the help of total consumption of the particular area and the consumption of particular company's product in that area. The market share of Bajaj electrical limited is growing with every financial year.

COMPANY PROFILE

COMPANY PROFILE

The bajaj group of India owes immense gratitude to their founding father whose vision and dedication over the years has greatly helped to build a business house that can set standard in Indian industry.

Jamnalal Bajaj was the founding father of the Bajaj Group. The dopted 'fifth' son of Mahatma Gandhi, and the 'merchant prince' who held the wealth he created in trust for the people of his country, Trust - a simple word that contains a whole philosophy handed down by Jamnalal Bajaj to his successors. He valued honesty over profit.

Jamalnayan Bajaj, elder son of Jamnalal Bajaj, followed

footsteps of his illustrious father and consolidated the bajajj foundation. With characteristic foresight and pragmatic; vision, he launched a steady

diversification programme which gave the current name "Bajaj" both its shape and size. His unique management style created a work culture that matched well with the national spirit he had inherited.

Ramkrishna Bajaj took over the reins of the "bajaj group" in 1972 after Kamalnayan Bajaj and steered the Group from strength to strength for over 22 years. He had also actively participated in the freedom struggle of the country. In post independent India, he had led the youth movement.

Shekhar Bajaj, Chairman & Managing Director of Bajaj Electricals Ltd., started his career with Bajaj Sevashrarn after which he worked at Bajaj International, the groups export company. Mr. Shekhar Bajaj joined Bajaj Electricals in 1980, became the Managing Director in 1987 and took over as the Chairman and Managing Director in 1994. Mr. Bajaj is the Chairman of Bajaj Group companies Baj~.:i;j International and Hercules Hoist Pvt. Ltd. and on the Board of Directors of Bajaj Auto and
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IDBI Bank. He was the President of ASSOCHAM, former President of Indian Merchant Chambers (IMC) and Council for Fair Business; Practices (CFBP)

HISTORY

People don't just bring their brains to work: they also bring their hearts and soul. They want to feel passionate about what they are doing and be a part of whatever is great. We at Bajaj Electricals Limited, recognize this truism and seek out and strike a dialogue straight with the hearts and souls) of our employees. Here is a quote from Mr. Shekhar Bajaj, our Chairman and Managing Director -

"Every individual has the potential to perform if he or she gets proper motivation, the right opportunity and the freedom to work. In the long run success is achieved when ordinary people perform extraordinarily. It is important to keep an open mind rather than drawing preconceived impressions about people. More often that not, such impressions will be proven wrong."

Faster, Higher, Stronger - is our maxim, our way of individual and organizational performance. This is how we managed a successful business turnaround in Bajaj Electricals Ltd - with and through each one of our employees. And not only our excellent brand of products, cur people provide an excellent competitive advantage to us.

Bajaj Electricals Ltd. is planning to enter into a licensing agreement for its luminarie business.

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We are looking at a collaboration for our luminaire business :-7~ough a licensing agreement as there is a need for technologically superior products which are state-ofthe art. We are in advanced discussions. I cannot disclose anything further at this stage," Bajaj Electricals chief operating officer and president R Ramakrishnan said.

The luminaire business is one of the five special business units (SBUs) of the company. The others are appliances, pans, lighting and the engineering business. Bajaj Electrical luminaires find applications in the engineering, power, steel, cement, fertilizer, chemical and petrochemical sectors.

Earlier, Bajaj Electricals had entered into a licensing agreement with Morphy Richards of the UK for its irons. This tie-up also entails a technology transfer.

The company is targeting revenues of Rs 1,000 crore by the year 2007-08. "The biggest contributor to this will be the engineering business. Till recently, we were only into the manufacture of power transmission towers. Now, we will be installing them too," Mr Ramakrishnan added. The engineering and projects business is also the fastest growing business.

This business has an order book of over Rs 150 crore and has grown by over 85%, senior company executives said. The company clocked net sales of Rs 505.26 crore in the last fiscal and is expected to add around 25% to its topline this-_-) fiscal, he said.

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The company which had been facing tough times a few years back has bounced back after the implementation of a restructuring exercise.

This entailed the reorganisation in to five SBUs, reduction in _crest rates, brand building, and a growth of revenues.

Last year, the company also came out with a rights issue at premium of Rs 15 per share. Further, the company also of out of the die-casting business by giving a VRS at the plant, selling the development rights of the land and entering into a non-compete clause with a competitor.

Revamp helps Bajaj Electricals Turn Around Hindu Business line January 31, 2005 K. Giriprakash V. K. Varadarajan Bangalore Jan 30, 2005: BAJAJ Electricals has restructured its entire operations, including shutting down some of its loss-making ventures, as part of its plans to turnaround the company.

Bajaj Electricals' President and Chief Operating Officer, Mr R. Ramakrishnan, told Business Line that the restructuring has helped the company to turnaround and now it expects to double its revenues to about Rs 1,000 crore within three years. The
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company hopes to end the current fiscal with a revenue of around Rs 630 crore, an increase of 20 per cent over fiscal 2003-04.

Mr Ramakrishnan said it had roped in Accenture Consulting to chart out a turnaround for the company. As per the new plan, Bajaj Electricals dropped its matrix structure for its organisation in favour of separate business units for each of its businesses.

It now has five separate business units - engineering and projects, luminaire, appliances, fans and lighting. "Each of these units compete as separate businesses with its, competitors," Mr Ramakrishnan said. The company also got rid of unviable businesses.

For example, it shut down its diecast operations and offered VRS to 180 people. It also sold surplus land of the unit.

He said the company also went in for financial restructuring by swapping high cost funds with low cost long-term debt. The banks too have lowered interest cost and increased the moratorium for another two years.

The company plans to invest about Rs 20 crore, spread over the next fiscal, to double the existing capacity in its engineering unit to execute its Rs 160 crore

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worth of fresh order from Powergrid Corporation for erection and commissioning of power transmission tower. Mr Ramakrishnan said the engineering unit, which registered a growth of 88 per cent over the last fiscal, is expected to outpace other business units. The company expects about 25 per cent of its revenues to come from its engineering business, he said.

Mr Ramakrishnan said with the PowerGrid according theril the status of approved EPC contractors, it expects bigger orders from the power company. He pointed out that with an estimated investment proposal of Rs 75,000 crore by Powergrid Corporation, there was a huge opportunity for the company.

Mr.Ramakrishnan said the company had entered into a licensing arrangement with Trilux, a leading European luminaries brand and a market leader in lighting in Germany. The tie-up, though is aimed to market the products to premium segments in the country, could lead to manufacturing Trilux products in the long term. Trilux would complement

Bajaj's own products to provide full spectrum of lighting products, he said. Similarly, Bajaj's tie-up with UK's leading small appliances brand Morphy Richards had helped it to position itself in the premium end of the market.

Mr Ramakrishnan said Bajaj Electricals has a market share of between 15 per cent and 20 per cent in the appliances segment, 20 per cent in luminaries and 10 per
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cent in lighting. The company has also been able to take on the unorganised sector by offering competitive pricing of its products in the lower end. "Our China sourcing strategy has helped us to buy from the world's best without compromising on the quality of the products," he said.

Bajaj International Pvt. Ltd. is an associate company of Bajaj Electricals Limited (BEL), and is a part of The Bajaj Group which has an annual turnover of US$ 1.4 billion, employing approximately 33,000 people.

The Brand 'Bajaj' is a mark which guarantees highest international quality standards. It signifies an uncompromising attitude towards any divergence frorn quality products.

Our group company Hind Lamps Ltd. has had a manufacturing venture with Philips Holland for more than five decades for GLS and Miniature Lamps and for Fluorescent Tubes.

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Bajaj Electricals Keeps on Shining More...

Bajaj Electricals Limited (BEL) is a part of the "Bajaj Group" of India who are in the busine ss of ste el, sugar, two wheelers & three wheelers. Bajaj Electricals is well established in their range of products such as lamps & tube lights, luminaires, small household appliances, ceiling fans & table fans and turnkey engineering services. The company has been in existence for the last 60 years and has steadily grown and expanded its business both in domestic and international markets.

Bajaj Electricals has 20 branch offices and 4 regional offices spread in different parts of the country besides being supported by a chain of about 600 distributors, 2500 authorised dealers, over 60,000 retail outlets and over 200 service franchisees

BEL today has five major business units comprising of lighting, luminaires, electric fans, home appliances, turnkey engineering projects. BEL's export activities are well supported through its International division. The Company has recently forayed into electric power generation through wind energy in its quest to reduce the depletion of fossil fuels and preserved the environment.

Total Quality Management (TQM) has taken roots in some important business processes of the Company. Few business units of the company have already received
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ISO Certifications while the other BUs are on the anvil to obtain the same. BEL has many technology tie-ups and collaborations with major international players, the details of which are given under business activities.

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PRESS NEWS

Times of India January 22, 2005 Bajaj Electricals has reported a 93.8 percent rise in its net profit for the third quarter ended December 31, 2004 at Rs 4.75 crore as against Rs 2.45 crore in the corresponding period of last fiscal. Revenues from operations during the quarter were higher at Rs 170 crore as against Rs 126 crore i n the same period of 2003-04.

Leading the Way Corporate Dossier Economic Times January 14, 2005

Shekhar Bajaj, Chairman & MD, Bajaj Electricals Ltd.

A leader sets an example for others to emulate, and hence must be a high-level performer. He's also respected by subordinates and colleagues, alike. He must embody honesty, integrity and trustworthiness.

A leader is knowledgeable and well read and must guide and empower his subordinates to perform their best.

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He must also be supportive to his subordinates and fair at his workplace, at all times. He must be sympathetic, yet firm when required. A leader is one who enthuses people by giving credit when it's due, whom it's due to, gracefully and quietly.

A leader is a builder of performance-oriented teams. He builds on people's strengths and helps overcome their weaknesses. A leader is one who is whole-heartedly committed to the organisational goals and aspirations. A leader is the organisation, in essence.

These are points from the speech I made at a management conference 10 years ago, and these simple management truths are still relevant in running Bajaj Electricals today.

Since the past 25 years that I have worked in Bajaj Electricals, I have seen many ups and downs - some that challenged my ideals and others that inspired me to continue.

One of the most important things for a leader is that he should be aware that he is the pillar in unfavourable times and the sole motivator for his employees when the ship starts to sink.

He shouldn't be demoralised when things aren't going as expected, nor should he be jubilant when things are going well. He's the one to support and

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motivate his team to tackle the impossible and find solutions to the most complex problems.

It's more valuable to take decisions fast, even with a few mistakes rather than delay decisions.

Around three years back, we were going through a downturn, I realised that unless we reduced our costs and make ourselves trimmer and take other corrective actions, the company wouldn't be able to turn around.

Therefore, we instated a five-pronged strategy through the theme 'War for Profits', where all members of Team Bajaj were involved in controlling fixed costs, reducing working

Capital, improving margins, increasing volumes and getting ,,ut of loss-making businesses.

Restructuring must be done easily only during a downturn, as everybody feels the need to change and are open to taking risks.

For any organisation, people are the key assets and therefore communication is vital.

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Effective communication during bad times is imperative as opposed to suppressing information. I have learned that a pat on the back can go a long way, reaping more benefits than just financial rewards.

Our focus on achieving a turnaround bore fruit when the company improved its market share in our restructured five business units. We extended and added value to our portfolio of products and solutions to meet differing customer needs.

In addition to our aggressive marketing activities we explored strategic alliances with business partners around the globe. Quality is important but soon it will be taken as given.

What is going to differentiate different companies are innovation, service and distribution.

Every individual has the potential to perform if he or she gets the proper motivation, the right opportunity and the freedom to work. In the long run, success is achieved when ordinary people perform extraordinarily.

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It's important to keep an open mind rather than drawing pre-conceived impressions about people. More often than not, such impressions will be proven wrong.

A majority of labour problems arise because of improper management rather than the easily blamed labour attitude.

Mahatma Gandhi succeeded in uniting multi-lingual Indians against the British rule (in an era of no technological communications) because he could relate to the masses - as he understood their problems because he lived with them, like them, and empathised with them.

Our strategy is to capture the bottom of the pyramid. India's population of 100 crore from a liability can be converted into an opportunity for growth and profitability.

I would like to end with a quotation by Lau-tzu - the founder of Taoism A leader is best when people barely know that he exists. When his work is done, his aim fulfilled, they'll all say, "We did it ourselves".

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PRODUCT PROFILE

Bajaj Storage Water Heater

Energy Efficient Horizontal

10 year guarantee on copper tank 30% energy savings over ISI norms 2 year comprehensive guarantee including heating element

Available in 10 litre capacity

Energy Efficient Vertical

10 year guarantee on copper tank 30% energy savings over ISI norms 2 year comprehensive guarantee including heating element

Available in 10 litre capacity

Energy Smart Horizontal

10 year guarantee on copper tank Imported Combistat 30% energy savings over ISI norms 2 year comprehensive guarantee including heating element

Available in 10, 15, 25, 35 and 50 litre capacity

Energy Smart Vertical

10 year guarantee on copper tank Imported Combistat 30% energy savings over ISI norms 2 year comprehensive guarantee including heating element

Available in 6, 10, 15, 25, 35 and 50 litres capacity

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Majesty IQ Horizontal

10 year guarantee on copper tank Imported Combistat PUF insulation for 30% energy savings over ISI norms 2 year comprehensive guarantee including heating element Rust-free enginnering plastic body

Available in 15, 25 and 35 litre capacity

Majesty IQ Vertical

10 year guarantee on copper tank Imported Combistat PUF insulation for 30% energy savings over ISI norms 2 year comprehensive guarantee including heating element Rust-free engineerign plastic body

Available in 15, 25 and 35 litre capacity

Majesty Vertical

10 year guarantee on copper tank Imported Combistat Glasswool insulation for 30% energy savings over ISI norms 2 year comprehensive guarantee including heating element Rust-free enginnering plastic body

Available in 15 and 25 litre capacity

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Bajaj Instant Water Heater

Majesty Instant

10 year guarantee on copper tank Rust-free engineering plastic body Multiple safety system 2 year comprehensive guarantee including heating element

Available in 1 litre and 3 litres capacity

Majesty IQ Instant

10 year guarantee on copper tank Rust-free engineering plastic body Imported capillary thermostat Rapid and normal heating option

Multiple safety system

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Bajaj Instant Gas Water Heater

Aquatherm Instant Gas Water Heater

Oxygen depletion monitor LED indicator for temperature Auto Shut Off

20 minute timer

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Office Locator
Registered Office
45/47, Veer Nariman Road Fort Mumbai - 400023 Phone - 22043841, 22045046 Fax - 22851279

Head Office
51, Mahatma Gandhi Road Fort Mumbai - 400023 Phone - 22043780, 22043733 Fax - 22828250

Company Showroom
'World of Bajaj Electricals' Bajaj Bhavan Nariman Point Mumbai - 400021 Phone - 22023626

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MARKET SHARE
Shareholding Pattern As on 31st December, 2010 Under Clause 35 of the Listing Agreement A 1 Category Promoter's holding Promoters* Indian Promoters Foreign Promoters 2 Persons acting in concert# Sub Total: B 3 a(i) a(ii) b(i) b(ii) b(iii) Non-Promoter's holding Institutional Investors Nil Mutual Funds Unit Trust of India Banks Life Insurance Corporation of India Oriental Insurance Company Ltd. c 4 a Flls Sub Total: Others Private Corporate Bodies 389298 4.50 500 150 6687 746010 108000 Nil 861347 0.01 0.00 0.08 8.63 1.25 Nil 9.97 Nil No. of Share held of shareholding

5693850 65.88 Nil Nil 104440 5798290 1.21 67.09

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b c d e

Indian Public NRIs/OCBs Any Other - Non Resident Foreign Companies Sub Total: Grand Total:

1567010 5905 5430 15600 1983243 8642880

18.13 0.07 0.06 0.18 22.95 100.00

as defined in Regulation 2(h) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 1997. The promoter's holding shall include all entities in the promoter's group-individual or body corporates. # as defined in Regulation 2(e) of SEBI (Substantial Acquisition of Shares and

Takeovers) Regulations, 1997. Note: 1. Total Foreign shareholding including Foreign Promoters, Fils, NRIs/OCBs

Foreign Banks, Foreign Nationals and GDR & ADR holdings is 26935 i.e. 0.31% of the total issued equity capital.

Shareholding Pattern as on 31st December, 2010 Under Clause 35 of the Listing Agreement Persons Holding more than 1% of the shares of the Company

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SL. No. A 1 2 3 4 5 6 7 8 9 B

Name of Shareholder 1. Promoters: Jamnalal Sons Pvt. Ltd. Bajaj Auto Ltd. Hind Musafir Agency Pvt. Ltd. Bajaj International Pvt. Ltd. Shri Shishir Kamalnayan Bajaj Shri Rahulkumar Kamalnayan Bajaj Shri Shekhar Bajaj Shri Madhur Bajaj Shri Anant Bajaj 2. Foreign Promoters: Non-Promoter's holding: 3a. Mutual Funds & UTI 3b. Banks Life Insurance Corporation 746010 of India Oriental Insurance Company Ltd. 3c. Flls 4a. Private Corporate Bodies 4b. Indian Public 4c. NRIs/OCBs 4d. Any Other - Non Resident 4e. Foreign Companies

No. of Share 1429541 1719676 200000 200000 136400 114000 190680 90786 175366 Nil Nil Nil

to equity capital 16.54 19.90 2.31 2.31 1.58 1.32 2.21 1.05 2.03 Nil Nil Nil 8.63

1.25 108000 Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil

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ORGANIZATION HIERARCHY

1) Managing director 2) President 3) Vice president 4) National sales manager 5) Regional manager 6) Assistant manager 7) Senior sales executive 8) Sales executive 9) Financial coordinator

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OBJECTIVE OF THE RESEARCH

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OBJECTIVES OF THF RESEARCH

The objective of the project ``factors affecting consumer buying behavior& to know the market position of Bajaj geysers "are as followed 1) To find out what does the user of the geyser think about Bajaj electrical limited. 2) To study their preference for the geyser brand selection. 3) To study the market opportunities of Bajaj electrical limited to help in the formulation of marketing strategy. 4) To suggest some measures to make Bajaj electrical limited more competitive. 5) To study the customers satisfaction level in regards to the strength of the Bajaj electrical limited. 6) To study the market prospects of Bajaj electrical limited. 7) To study the reasons behind best geysers. 8) To study strength and weakness of Bajaj geysers.

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RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY

STATEMENT OF THE PROBLEM AND ITS SIGNIFICANCE:

The study is on "factors affecting consumer buying behavior and market condition of bajaj geysers with a special synopsis on competitive marketing strategies".

It covers aspects like market share of the company, buying attributes of customers, preference of the customer etc. The study is a modes effort at understanding the consumers attitude about Bajaj electrical ltd, which has a very good market share as their competitors.

Research simply means a search for facts-answers to questions and solution to problems. It is a purposive investigation. It is an organized enquiry. In other words research means search for knowledge and research methodology is a way systematically solve the research problems.

It is a science of studying how the search is actually done. It presents the source of data collection, the sampling procedures and tools of investigation and limitation of the study.

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My research project has a specified framework for collecting the data in an effective manner. Such framework is called "research design".

The research process:

It includes following steps 1. Defining the research problem & research objective: The definition of the research problem includes the study of the topic factors affecting consumer buying behavior & market position of Bajaj geysers in Delhi ". 2. Developing the research plan: Second stage for developing the research plan calls for gathering the information. It consists of -

Data sources: The researcher can gather primary data, secondary data or both.

Primary data are data freshly gathered for specific purpose or for a specific research project.

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Secondary are data that were collected for another purpose and already exist somewhere.

Research Approaches:

Primary data can be collected in five ways: 1) Through observation: Fresh data can be gathered by observing the relevant actors and settings.

2) Focus group research: Focus group research is a gathering of six to ten people who are invited to spend a few hours with a skilled moderator to discuss a project.

3) Survey research: Surveys are best suited for descriptive research. Surveys are used to learn about people knowledge, beliefs, preferences and satisfaction.

4) Behavioral data: Customers leave traces of their purchase behavior in store scanning data, catalog purchase and customer database. Much can be learned by analyzing these data.

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5) Experimental research: The purpose of experimental research is to capture cause & effect relationship by eliminating competing explanations of the observed findings.

RESEARCH INSTRUMENTS:

Three main instruments used in collecting primary data are 1) Questionnaires: A questionnaire consists of a set of questions presented to respondents. Questionnaire needs to be carefully developed, tested and debugged before they are administered on large scale.

2) Psychological tools: Psychological tools consist of laddering techniques & depth interviews.

3) Mechanical devices: Mechanical devices are occasionally used in marketing research. Galvanometer measures the interest or emotions aroused by exposure to a specific ad or picture.

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QUESTIONS ARE OF TWO TYPES:


1) Closed end questions 2) Open end questions Closed end question include: Dichotomous Multiple choice Likert scale Semantic differential Important scale

Open end questions include:


Completely unstructured Word association Sentence completion Pictures

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SAMPLING PLAN
After deciding the research plan and research instrument, the marketing researcher must design a sampling plan. This calls for three decisions: 1) Sampling unit: Who is to be surveyed? The market researcher must define the target population that will be sampled. Once the sampling unit is determined, a sampling frame must be developed so that everyone in the target population has an equal or known chance of being sampled. I have completed my survey in south & east Delhi.

2) Sampling size: How many people to be surveyed? Large samples give more reliable results than small samples. It mainly refers to no of respondents from the universe. My sample size consists of 50 dealers of different home appliances brands. 3) Sampling procedure: How should the respondents be chosen? To obtain a representative sample, a probability sample of the population should be drawn.

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SAMPLING MAY BE

1) Probability sampling It includes:

Simple random sampling Stratified random sampling Cluster sampling

2)

Non probability sampling It includes

Convenience sampling Judgment sampling Quota sampling

SAMPLING TECHNIQUE USED: Due to constraint of tine, convenient sampling is used. This sampling method involves purposive or deliberate selection of particular units of the universe for constituting a sample, which represents the universe. In this population elements are selected for inclusion in the sample based on the ease of access.

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3) Collect the information The data collection phase is most expensive and most prone to error. Four major problems arise in this phase:

1) Some respondents will not be at home. 2) Other respondent will not cooperate. 3) Other will give biased answers. 4) Some interviewers will be biased.

4) Analyze the information The next to last step in the marketing research process is to extract findings from the collected data. Different types of statistical techniques are used.

5) Present the findings As the last, the researcher presents the findings. The researcher should present findings that are relevant to major marketing decisions.

6) Decision making After completing all phases decision is formulated that is advantageous for the organization. Decisions made are checked and implemented by managers.

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STATISTICAL TOOLS USED:

Tabulation of data & develops frequency distribution., Averages and measure of dispersion are computed. Simple and complex tables are used. One dimensional diagrams are used e.g. bar diagrams. Two dimensional diagrams are used e.g. pie diagrams. Graphs are used. Sampling methods are used.

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DATA ANALYSIS & FINDINGS

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DATA ANALYSIS AND FINDINGS

The following pages give an in depth analysis and interpretation for the data collected from dealers. Each aspect of analysis is shown separately accomplished with tabulatation, a graphical representation and an interpretation for the same.

Fifty dealers were taken to collect the information or data.

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1) Which geysers do you deal in? TABLE -1 Baj aj Usha Venus Reckold Spare hot 40 35 20 45 10

GRAPHICAL REPRESENTATION:
GEYSERS IN WHICH DEALERS DEAL
NO O F RESPO NDENTS 50 40 30 20 10 0 45 20 10

40 3 5

Venus

Reckold

Spare hot

NAME OF GEYSERS

GRAPH -1 INTERPETATION: The result shows that maximum number of dealers deal in Reckold geysers (45) whereas Bajaj dealers are (40), Usha dealers are (35), Venus dealers are (20) & Sparehot dealers are (10).

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2) How old is your retail outlet? TABLE-2 LESS-1 YEAR 1-4YEAR 4-8YEAR 8-ABOVE 10% 20% 40% 30%

GRAPHICAL REPRESENTATION:
ABOUT RETAIL OUTLET
LESS-1 YEAR 10% 1-4YEAR 20%

8-ABOVE 30%

LESS-1 YEAR 1-4YEAR 4-8YEAR 8-ABOVE

4-8YEAR 40%

GRAPH-2 INTERPETATION: From the above interpretation it is clear that 10% dealers have less than 1 year old retail outlet, 20% dealers have 1-4 year old retail outlet, 40% dealers have 4-8 years old retail outlet whereas 30% dealers have more than 8 years old retail outlet.

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3) Which geyser do you think is best & why? TABLE-3 Bajaj Reckold Venus Usha Sparehot GRAPHICAL REPRESENTATION :
Best Geyser
Usha 20% Venus 10% Sparehot 0% Bajaj 20%

20% 50% 10% 20% -

Bajaj Reckold Venus Usha Sparehot

Reckold 50%

GRAPH-3 INTERPETATION: 50% dealers said Reckold geysers are best, 20% prefer both Usha & Bajaj whereas l0% said Venus is best.

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4) What are the strengths of Bajaj geysers? TABLE-4 Strengths Quality Look Price No. of Respondents 25 20 5 GRAPHICAL REPRESENTATION:
Strengths of Bajaj Geysers
No. of Respondents 30 20 10 0 Quality Look Strengths Price 25 20 5 Series1

INTERPRETATION: 25 dealers said quality is the Bajaj strength, 20 dealers said look is its strength whereas 5 dealers said price as its strength.

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5)

What is the marketing prospect of Bajaj Geysers? Table 5

Marketing prospect of Bajaj Geysers Good Average Bad

Percentage 60% 30% 10%

GRAPHICAL REPRESENTATION
Marketing prospect of Bajaj Geysers
Bad 10% Good Average 30% Good 60% Average Bad

INTERPRETATION 60% of dealers said good about marketing prospect of Bajaj geysers, 30% said it as average whereas 10% said it as bad.

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6)

Are you satisfied with the margin you got by selling Bajaj geyers? TABLE-6 Yes No GRAPHICAL REPRESENTATION
Satisfaction Level
No 30% Yes No Yes 70%

70% 30%

INTERPRETATION 70% of the dealers are satisfied by the margin whereas 30% dealers are not satisfied by the margin. They want more margin on Bajaj geysers.

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7)

For which brand of geysers the demand is high? TABLE-7 Brand Bajaj Reckold Usha Venus Sparehot Demand 25% 40% 20% 10% 5% GRAPHICAL REPRESENTATION
Demand
Sparehot 5% Venus 10% Usha 20% Bajaj 25%

Bajaj Reckold Usha Venus

Reckold 40%

Sparehot

INTERPRETATION From the above graph we conclude that maximum demand is of Reckold (40%), then there is a demand of Bajaj followed by Usha & Venus.

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8)

How much percentage of customer prefer following brands? TABLE 8 Brands Bajaj Reckold Usha Venus Sparehot Percentage of customer 35% 30% 25% 10% 0% GRAPHICAL REPRESENTATION
Demand
Venus 10% Usha 25% Sparehot 0% Bajaj 35%

Bajaj Reckold Usha Venus Sparehot

Reckold 30%

INTERPRETATION The above table shows that 35% of customers want to purchase Bajaj geysers, 30% f customers want to purchase Reckold geysers, 25% of customers want to purchase Usha geysers & 10% of customers want to purchase Venus geysers.

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9)

What are the reasons for switching customers from Bajaj geysers to other geysers? TABLE 9

Reasons Large delay in servicing Lack of marketing strategies

No. of respondents 35 15

GRAPHICAL REPRESENTATION
Reasons for switching
No. of respondents 40 30 20 10 0 35 15 Series1

Large delay in servicing

Lack of marketing strategies

Reasons

INTERPRETATION

From the above table we conclude that major reasons for switching customers to other brand are large delay in servicing & lack of market strategies.

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10)

How would you rank Bajaj geysers on a scale of 10? TABLE 10

Rank 1 Rank 2 Rank 3 GRAPHICAL REPRESENTATION


Rank of Bajaj Geysers
No. of respondents 40 30 20 10 0 Rank 1 Rank 2 Rank Rank 3 10 30 10

10 30 10

Series1

INTERPRETATION The above table shows that 30 dealers ranked Bajaj as second, 10 dealers ranked Bajaj as first whereas 10 dealers ranked Bajaj as third.

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SWOT ANALYSIS

Strengths: Brand image Product quality Product awareness in the market. Dealers distributed widely across the country. Good will in the market. Older player in the market. Weakness: Lack of market strategies. Lack of advertisement. Delay in servicing facility. Lesser promotion effort. Opportunities:
Take advantage of brand image --Ba~jaj electrical limited"

Ability to convince the dealer through market representation. Can afford major tie-ups. Joint venture would increase database& product range. Increase their presence at dealer point.

To use market leader strategies.


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Threats: Presence of other competitors with good capture of market eg Reckold, Usha, Venus. Loyalty of consumers to other brands.

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SUGGESTION

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SUGGESTIONS

I would like to recommend some points to the company. This is on the basis of the survey and anal\-sis of the study conducted in south & east Delhi. 1) The company should keep up its good work and should provide good sere-ice for its product at proper time, so that that the major dissatisfaction among the dealers and customers is not created.

2) The company should give much emphasis on incentive schemes and more margin of profit so that dealers are able to make more sales and have more profit for the company.

3) Since the purchase decision of the customer is mostly influenced by the dealers therefore the dealer should be fully equipped with the best of information and some gifts at certain purchases.

4) The company should work on positioning i.e. act of designing the company's offering and image to occupy a distinctive place in the mind of the target market.

5) Company should use differentiation tools: In product differentiation it should focus on-

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Form Features Performance Durability Reliability Repairability Design

In service differentiation it should focus on Ordering ease Delivery

Installation Customer consulting Maintenance & repair Miscellaneous

In personnel differentiation it should focus on Competence Competence Courtesy

Credibility

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Reliability Responsiveness Communication

In channel differentiation it should focus on Coverage Expertise Performance

In image differentiation it should focus on Symbols Symbols Colors Slogans Special attributes

6) Company should also focus on events and sponsorships.

7) As Reckold and Usha are market leaders whereas Bajaj is market challenger in home appliances it should use market challenger strategies which are given below Frontal attack:

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In pure frontal attack, the attacker matches its opponent's product, advertising. price & distribution. The principal of force says that the side with greater manpower will win. Flank attack: The major principal of offensive warfare is concentration of strength against weakness.

Encirclement attack:

The encirclement maneuver is an attempt to capture a wide area of the enemy's territory. Bypass attack: The most indirect assault strategy is bypass. It means bypassing the enemy and attacking easier markets to broaden one's resource base. Guerrilla warfare: It consists of waging small intermittent attacks to harass and demoralize the opponent and eventually secure permanent footholds.

8) Wall paintings, pamphlets_ distribution procedure in the public can also help in the promotion of Bajai geysers.

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LIMITATIONS

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LIMITATIONS

Every person try to do the work in the best possible way, but yet he/she faces certain difficulties. But still proper care was taken to present the report in the best possible way, but still the difficulties which was faced are as follows-

1) Area of survey is also limited as survey was conducted in south Delhi & east Delhi only. 2) Time and other factors, which are beyond human limitation, have also a bearing on the study. 3) Sample size taken for the study is quite small and it therefore does not represent the whole population. 4) Since only limited number of dealers have been selected which do not represent the whole of the dealers in the Delhi city. 5) Some of the dealers do not take interest in filling questionnaire. 6) Some of the dealers give wrong answers due to lack of interest. 7) Some of the dealers are biased.

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CONCLUSION

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CONCLUSION

From the analysis following inferences can be drawn:

Some of the dealers mainly prefer to sell Bajaj geysers than to Reckold geysers because they have been dealers of Bajaj company for the last 30 years. Secondly because of background reputation of the company.

Dealers are at the View, that the company needs to have some incentive schemes to promote m re sales because Reckold and Usha are giving tough competition to Bajaj Electrical Limited.

Most of the dealers were the opinion that the company should adopt better methods for promoting their brand due to the entrance of the company's brand.

More promotional efforts are needed on the part of the company in media advertising so that each and every person comes to know about the Bajaj geysers.

Most of the consumers give their preference to quality and service of geysers. Therefore company should take proper steps for improving the service facility for Bajai geysers.

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The purchase decision of the consumers is mostly influenced by dealers due to their hold on the product and experience in dealing with that product. So it is very necessary to have very good relationship with dealers & to give them benefits as far as possible.

Consumers of Bajaj geysers prefer the overall look as compare to other

geysers. So the company should try to maintain it always.

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ANNEXURES

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QUESTIONNAIRE

NAME OF DEALER : ADDRESS : NAME OF SHOP: Which geysers do you deal in? Bajaj Usha Venus Reckold Spare hot How old is your outlet? 1-4 year 4-8 year 8 years & more [ [ [ ] ] ] [ [ [ [ [ ] ] ] ] ]

Which geyser do you think is best & why? 1) What are the strength of Bajaj geyser? 1) What is the marketing prospect of Bajaj geyser? Good Average [ [ ] ]

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Bad

Are you satisfied with the margin you are get by seling Bajaj geysers? Yes No [ [ ] ]

For which brand of geyser the demand is high? Bajaj Usha Venus Reckold Spare hot [ [ [ [ [ ] ] ] ] ]

How much percentage of customers prefer following brands geysers? Bajaj Usha Venus Reckold Spare hot [ [ [ [ [ ] ] ] ] ]

What are the reasons for switching customers from Bajaj geysers to other geysers? 1) 2) How would you rank Bajaj geysers on the scale of 10? ______________________________________________________________

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BIBLIOGRAPHY

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BIBLIOGRAPHY

PERSONS Mr. Gaurav Saxena-WEBSITES


www.bajajelectrical.com www.google.com

MAGAZINES Business in India BOOKS Marketing Management by Philip Kotler

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