Chapter 1: Introduction

1.1: Industry Profile

The advent of the 3d printing industry begin in the early 80's, using
concepts related to additive manufacturing, Hideo Kodama of Nagoya
Municipal Industrial Research Institute(Japan) invented two methods
for fabricating 3d plastic models. Further ahead, Alain Le Mehaute,
Olivier de Witte and Jean Claude of France filed the basic patent on
stereo lithography (major concept within the additive manufacturing
process). But were later abandoned by the French general electric
company (now Alcatel-Alstom) for lacking business perspective.
Weeks later, Chuck Hull of 3D systems corporation, filed his own
patent for a stereo lithography fabrication system, in which layers
were added by curing photopolymers with ultra violet lasers. This gave
birth to a process used in many 3D printers till date. The first
legitimate 3D printer was developed by S. Scott Crump, and
commercialized by his own company Stratasys, In the year 1992.
Stratasys to this day remains a major player in the 3d printer industry.
The main process within the 3D printer involved concepts related to
patents claimed by many different people, mainly the fused deposit
modelling(FDM) by S. Scott Crump of Stratasys, selective laser
sintering, electron bean melting and laminated object manufacturing.
3D printers until this day rely on these techniques of the yesteryears,
helping them perfect the 3D printing process.

1
 Global 3d Printing Value
2.5

1.5

Global 3d Printing Value

1

0.5

0
2013 2014 2015 2016 2017 2018 2019 2020

The 3D printing market is estimated to be valued at USD 32.78 Billion

by 2023, at a CAGR (compound annual growth rate) of 25.76%
between 2017 and 2023.

2
Demand has sprung from the following industries:

1. Healthcare
2. Manufacturing
3. Aerospace and Defence
4. Automotive
5. Construction
6. Consumer Goods
7. Education

Its no surprise to hear that their research shows the healthcare sector
as one of the top industries exhibiting demand for hardware, software
and materialsall exemplified as we continually report on inspiring
cases, from Canadian tech companies creating 3D printed prosthetics
and orthotics to surgeons in Boston using 3D printed models to correct
a babys cranial defect. Manufacturers like Stratasys are continually
updating their line-up of 3D printers for the dental industry, while
numerous others delve into materials, mainly metal, producing items
like 3D printed titanium spinal implants.

In the automotive industry, well-known companies like BMW have

been using 3D printing for decades already. While many focus on the
use of the technology primarily for design and prototyping, as
Research and Markets points out, many automotive manufacturers
are finding that they can make quality and lightweight parts much
more affordably. In 2015, Divergent Micro factories, a prominent
3
leader in the 3d printer business unveiled their first fully 3d printed
supercar, the Blade Supercar. The car gives out an emission of 1/3rd
of an electric car and 1/50th the factory capital costs of other
manufactured car. It holds an impressive spec chart of 700
horsepower, 1400 pounds of dry weight and 61 pound of aluminium
chassis (also 3d printed). The car goes from 0-60mph in 2.2 seconds.
This shows how 3D printers can affect the automotive industry, not
only making cars lighter and faster, but also more efficient and
cheaper to mass-produce.

Within the education sector, 3D printer covers these applications:

1. Education/Research
2. Visual Aids
3. Presentation Modelling
4. Fit and Assembly
5. Prototype Tooling
6. Metal Casting
7. Functional Parts

Key corporations playing a role in the world are 3D Systems

Corporation, Arcam AB, Royal DSM N.V., ExOne GmbH,
Autodesk, Inc., Stratasys Ltd., Hoganas AB, Ponoko Limited,
Mcor Technologies Limited and Optomec, Inc.
Its important to remember of course that in terms of North
American 3D printing, Mexico is part of the quotient as well
and according to this report, they are projected to show the
most rapid growth from this year through 2022.

4
 Turning to Europe 3D Printing Market (2016-2022), the research
shows that 3D printing and additive manufacturing have had an
enormous impact as well for design, development, and
manufacturing. The automotive industry especially has been a
big player in Europe as the benefits of using the technology
become abundantly clear, and demand increases. Here also, new
shapes have been introduced, allowing automotive companies
to make improved structures while also improving on the
bottom line significantly.

Top 3D printing companies observed in the European market are

Mcor Technologies(Ireland), 3D Hubs (Netherlands/ New York),
Sculpteo(France), CGTrader(Lithuania) And Stilnest(Germany)

3D Printing Industry in India

About a decade ago, a rise of the industry began when basic 3D

printers and DIY (do it yourself) kits were sold in the market to
individuals and small companies for prices ranging from 40,000 to 2
lakhs.
Then it started in 2012, when four budding entrepreneurs and friends
inspired by the innovation by prominent 3D printing companies
Stratasys and MakerBot, applied to an incubator program in Manipal
University to create what would be the first 3D printing business in
India. This company is Fracktal Works, What Ive based this minor
project upon.
The 3d printing industry is still in the maturing period with many local
manufacturers proving 3D printing services and DIY kits.
The Indian 3D printing industry currently supports the following
business models:

5
 1. Reseller companies in India sell premium 3D printers
manufactured in Germany or USA.
2. Indian entrepreneurs have set up foreign collaborations to share
the technology and manufacture printers exclusively for India.
3. Indian hi-tech companies and start-ups designing and
manufacturing their very own 3D printers.
4. Providing 3D printing services to various industries.

another major company involved in producing 3D printers and

its applications are LBD Makers, that sells an entry-level 3D
printer that costs between 75000 to 1.5 Lakh. Other major
companies are Global 3D labs, Cycloid System Private Ltd,
Think3D, Jgroup robotics, DivbyZero, 3DigiPrints and Make3D,
Putting most of them within the start-up category.

The 3D printing industry in India has a very high potential for

growth with the advent of all the start-ups and the new
technology creating a need for 3D printing in multiple fields.

1.2 Topic Profile

The Topic follows the functional market analysis techniques by David
A. Aaker, which outlined the following elements of market analysis:
Market size (current and future)
Market trends
Market profitability
Distribution channels
Key success factors

6
 Key success details
Market analysis aims to determine the requirement of a market,
current and in the future. Organizations evaluate future requirements
of a market by focusing on evolving opportunities, and threats as they
relate to that organizations own strengths and weaknesses.
The findings of market analysis can lead an organization to change
various aspects such as investment strategies, inventory levels, work
force expansion/contraction, promotional activities and facility
expansion.
Market Size
Market size is defined through the market volume and market
potential. The market volume exhibits the totality of all realized
sales volume of a special market. The volume is therefore
dependent on the quantity of consumers and their ordinary
demand. Furthermore, the market volume is either measured in
quantities or qualities. The quantities can be given in technical
terms, or in numbers of items. Qualitative measuring uses sales
turnover as an indicator i.e. market price and quantity are taken
into account. The following are examples of information sources
for determining market size:

Market trends
Market trends are the upward or downward movement of a
market, during a period of time.
Besides information about the target market, one also needs
information about one's competitors, customers, products, etc.
A few techniques to measure market trends are:
Customer analysis

Competitor analysis

7
 Risk analysis
Product research

Advertising the research

Marketing mix modelling

Changes in the market are important because they often are the
source of new opportunities and threats. They have the
potential to dramatically affect the market size.
Examples include changes in economic, social, regulatory, legal
aspects within the market that affect the business directly or
indirectly.
Market opportunity
A market opportunity whether a product or a service, based on
either one technology or several, fulfils the needs of a
market better than the competition and better than different
technologies within the given environmental frame (e.g. society,
politics, legislation, etc.) Analysis of opportunities within the
market can provide an understanding to acquiring success in any
market.
Market profitability
While different organizations in a market will have different
levels of profitability, they are all similar to different market
conditions. Michael Porter devised a framework for evaluating
the attractiveness of an industry or market. This framework,
known as Porter five forces analysis, identifies five factors that
influence the market profitability:
Buyer power

Supplier power

Barriers to entry

Threat of substitute products

Rivalry among firms in the industry

8
 Distribution channels
Examining the following aspects of the distribution system may
help with a market analysis:
Existing distribution channels - can be described by how direct
they are to the customer.
Trends and emerging channels - new channels can offer the
opportunity to develop a competitive advantage.
Channel power structure - for example, in the case of a product
having little brand equity, retailers have negotiating power over
manufacturers and can capture more margin.
Success factors

The key success factors are those elements that are necessary in
order for the firm to achieve its marketing objectives. A few
examples of such factors include:
Access to essential unique resources
Ability to achieve economies of scale
Access to distribution channels
Technological progress
It is important to consider that key success factors may change
over time, especially as the product progresses through its life
cycle.
Environmental Analysis

The environmental analysis can be divided into two parts which

are external and internal factors. External factors. Political
issues, social potential force, and local economy called external
environmental factors. Internal environmental factors belong to
company's internal position such as employees, department
structure, budget and so forth.
Competitive analysis

9
E David A. Aaker's 7 main dimension of a market analysis
including market size, market growth rate, market profitability,
industry cost structure, distribution channel, market trends, and
key success factor, there is another analysis of dimension market
analysis. Based on Christina Callaway, dimension of market
analysis can be divided into four parts which is environmental
analysis, competitive analysis, target audience analysis, and
SWOT analysis. The market analysis is to help company to
illustrate current trend in the market and may affect the
profitability.
Target audience analysis
In the Christina contribution, target audience is for company to
target their customer group who most likely to buy their
products. The group can be classified with location, age, gender,
income, ethnicity, and behaviours. And people who make a
decision of purchase can also be divided in the target audience.
How identify market in accordance with Women's enterprise
centre the market can be classified in three types which are
consumer market, industrial market, and reseller market. The
company segment their market, research market, and identify
why customer would like to buy their products (women's
enterprise centre, 2011).
SWOT analysis
SWOT is strengths, weakness, opportunities, and threats. It
matches internal strengths and weaknesses up against
opportunities and threats. Strengths and weakness are internal
factors which we can control. And opportunities and threats are
external factors that businesses can't control, but can however
impact on. When using strengths and weakness, businesses
need to collect raw data to get information.
10
Market segmentation is one of the important way to find
competitive advantage with its differentiation in market
analysis. Market segmentation concentrate on market energy
and power to gain competitive advantage. In other words,
market segmentation is the concept tool to get the force. In the
market analysis, we need a lot of market knowledge to analysis
market structure and process.
Global market segmentation
Since the globalization more and more developed, the global
market become indispensability part of the business thinking. In
order to explore global market, how market segmentation can
be used in the global market. There are some aspects of defining
the global market so which is more efficient to segment global
market.

11
Chapter 2: Company Profile
2.1: About the Organization
Company Details
Name: Fracktal Works
Address: 40, Primrose Rd, Sivanchetti Gardens, Bengaluru, Karnataka
560025

Brief history of the company

Fracktal Works, a startup in the 3D printing sector, founded by Vijay
Raghav Varada and Rohit Asil. The startup was founded while the
founders were still in college at Manipal Institute of Technology,
Manipal. It all begin from a tech competition held in college, where
participants had to build a piece of technology from scratch and
demonstrate it to investors and staff members. Young Vijay and Rohit
chose to go for building a 3d printer, technology that works with
additive manufacturing but involves serious dedication and hard work,
and went on to bag 1st place and a starting investment of 5 lakhs
with which they chose to develop their first printer, Julia. After their
incubation period at MUTBI (manipal university of technology
business incubator), they shifted base to Bengaluru to continue
developing and manufacturing their own brand of 3D printers Julia
and providing customized services to different clients, which include
Cisco, Toshiba, L&T etc. Having built many products from scratch they
look at themselves as a product development firm, though people
know them more for their 3D printers. They worked on claiming
multiple patents on various parts within the immersive technology
held by them. These patents would help Fracktal develop in more
12
ways than they could imagine. With their first range of printers being
sold at 50,000, Fracktal Works introduced the first affordable 3D
printer, which was both reasonable and reliable in the 3d printing
industry, giving the competitors a run for their money.
From dorm rooms to the MUTBI, Fracktal Works then had got Libre
Wirelesss facility in Diamond District for the last 8 months and
received mentoring from Hariharan Bhojan, Libres VP. Fracktal will
used majority of their funds at the time for future developments and
R&D. They aim to focus on more niche verticals under 3D printing such
as jewelry, dental and biomedical devices. Their other plans include
getting more certifications, increasing their reach to more markets,
outsourcing manufacturing and attending international expos.
Gaining key clients like Cisco, Toshiba and L&T providing various
support on their projects. Gaining competitors like MakerBot,
Stratasys, Fabbster, 3D Systems, Leapfrog, Flashforge and Optomec
that are well known on the global scale some interesting startups and
companies in this sector in India are Altem Technologies, Imaginarium,
Brahma 3, JGroup Robotics, Global 3D Labs and design marketplace,
REALiz3D and df3d, All within the 3d printer manufacturing industry
and product development firms. At their incubation, Fracktal works
raised 2.98M in their first round of series funding, giving them a
success story to build on.
2014
In the year 2014, Fracktal was valued at $3M by seed round valuation,
giving it a major heads up for investors to watch out for. Before closing
the seed round, Fracktal works raised roughly 19.2 crores ($ 3
million) from 1 Neoteric Technology Solutions Private Limited, the
subsidiary company of Neoteric Infomatique Limited, one of the
country's largest IT distributors.
13
The company sells its printers to manufacturing firms, product design
firms and individuals. Currently at a revenue run rate of Rs 40 lakh per
annum, Fracktal aims to touch at least 1.5 crore in sales by the end
of this fiscal. "We sold a total of 40 printers last year. This year, we're
selling 40 printers within 3 months," said 21-year-old Asil, co-founder,
Fracktal Works and currently in his final year. "We have bagged
companies like Cisco and Omega elevators among others."
2015-present
In the year 2015, Fracktal having brought in major funding (19 crores)
from their investors at Neoteric Infomatique ltd., Made their way into
their first office at 80 feet road, Indira nagar, and increased their work
staff to about twice their team before. They concentrated to improve
their company from within, by focusing on key factors such as
marketing, Human resource management and accounting to balance
out their already successful start-up. They focused on finding more
needs for the 3d printing industry, creating a bigger network of
retailers and distributors. The Fracktal team then worked on their first
3d printer the Julia and improved performance and other factors to
the additive manufacturing process within the printer and rebranded
it as Snowflake for first few initial months and then chose to stick to
Julia V2. They improved relations with their investors and working
partners they acquired in the last year, such as L&T, Toshiba and
created new relations with other start-ups, majorly ones related to
the product development industry. Providing logistical support to all
their clients, Fracktal works functioned on the key of constant
innovation. The young founders went on to represent the company in
numerous national and international events, namely Inside 3d Printing
(MUMBAI), Bangalore-Maker Fair, Innovex (Bhopal) and Innovfest
(Bangalore).

14
Additionally, they represented the best interests of 3D printing in India
at the 3DPrint UAE exhibition held at Dubai Trade Center in August of
2015, And supported a local tech start-up in Malaysia to set up a
robotic lab for themselves.
The company also won the best innovative award at the Innovex Event
Bhubaneshwar.
They collaborated with current tech giants One Plus to bring together
a 3D printing workshop in Bangalore and propagate the idea of 3D
printing to OnePlus users, held in December. They acquired 8 new
projects to look forward to in the year 2016, with long time partners
Cisco, and Newly acquired LOral and Sabic in product development
and R&D. Receiving praise from their competitors, partners &
investors Fracktal looked onto a bright future in the upcoming year.

Product Overview
Fracktal works produces its own line of high-end 3D printers which
work with Fused deposition modeling(FDM) technology. FDM works
on an "additive" principle by laying down material in layers; a plastic
filament or metal wire is unwound from a coil and supplies material to
produce a part. Thus, FDM is also known as a solid-based AM
technology. Applications are endless as the printer can process any 3d
dimensional figure, thus making the technology extremely resourceful
to multiple fields. Fracktal works sell their printer Julia and Julia V2.

15
Fracktal works also provides IT solutions to its various clients, ranging
from product development to logistics.

2.2: Organizational Structure and Swot Analysis

Organizational Structure
Departments:
1) Human Resource: The department or support systems responsible
for personnel sourcing and hiring, applicant tracking, skills
development and tracking, benefit its administration and compliance
16
with associated government regulations. A human resources
department is a critical component of employee well-being in any
business, no matter how small. HR responsibilities include payroll,
benefits, hiring, firing, and keeping up to date with state and federal
tax laws. Any mix-up concerning these issues can cause major legal
problems for your business, as well as major employee dissatisfaction.
2) Operation: This department is an area of management concerned
with overseeing, designing, and controlling the process of production
and redesigning business operations in the production of goods or
services. It involves the responsibility of ensuring that business
operations are efficient in terms of using as few resources as needed,
and effective in terms of meeting customer requirements. It is
concerned with managing the process that converts inputs (in the
forms of raw materials, labour, and energy) into outputs (in the form
of goods and/or services).
3) Marketing and Sales: A marketing department promotes the
business and drives the sales of its products or services. It provides the
necessary research to identify the target customers and other
audiences. Depending on the companys hieratical organization, the
marketing director, manager or vice president of marketing might be
at the helm of it. and services and resulting profit drive most
commercial business. These are also typically the goals and
performance indicators of sales management.

4) Service: A service department is usually associated with a

manufacturer. A service department is part of the factory operations,
but does not produce the factorys output. Rather, it provides services
to the factorys production departments.

17
5) Finance: The part of an organization that manages its money. The
business involved within the finance department typically includes
planning, organizing, auditing, accounting for and controlling its
companys finances. The finance department also usually produces
the companys financial statements. The finance department of a
business takes responsibility for organizing the financial and
accounting affairs including the preparation and presentation of
appropriate accounts, and the provision of financial information for
managers.
6) Research & Development: this department consists of developers
of the product and to keep improving the products capacity to give a
better output.

CEO

CTO

Business Human
Operations Sales Finance R&D
development Resource

SWOT Analysis
Strengths:
Producers of cheap 3D printers in India
High gross profit margin
Strong R&D
Consumer and Industry Driven
Talents storage and research capabilities in 3d printing field
Internal Support Policies
18
 Company holds 3 patents within the process of 3d printing
Vision and Customers has brought good recognition in the
market.

Weaknesses:
Industrial concentration of 3D printing
Complex and fragmented product line
New to the 3D printing industry
Equipment cost, limited material availability and post processing
requirements.

Opportunities:
Self-developing trend of 3D printing in the world
Cheaper product compared to competitors
Can bring on more partners from the IT industry
Rapidly growing consumer market
Retailers want to limit their losses resulting from 3D printing
Positive CAGR (compound annual growth rate) prediction for
industry has scope for introducing faster and cheaper printers.
Threats:
Competition has higher degree of economies of scale
Entry of multi-industry global competitors (HP, GE)

2.3 Clients

Fracktal works has gained dozens of clients since the birth of the
company in 2013. The top level MNC and tech clients are:
19
 Cisco
Toshiba
L&T
LOral
Sabic
IIT Institution
Manipal Institution
One Plus
Omega Elevators
1-Neoteric

20
Chapter 3: Methodology of Study
Title of the Study:
Market analysis on data in growth of size and value and consumer
buying behaviour on Fracktal Works pvt. Ltd.

Statement of the problem:

Marketing is one of the most important aspects of the business, it acts
like the life and blood of the business. Management of this component
is very vital, and constant market analysis is required to manage
marketing and related activities effectively.

21
Current study was undertaken to investigate growth within the
company and Its consumer buying behaviour, using marketing
strategies.
Scope of the Study:
The research is restricted to Fracktal Works located in Bangalore and
is conducted to understand how important the market is and to
understand the consumer buying behaviour and customer
satisfaction.
Method of Data Collection:
Preparation of the questionnaire, consisting on questions based
on fracktal works product and services with particular reference
towards buying behaviour.
Data has been collected on the basis of questionnaire
Collected data has been tabulated and analysed on the basis of
statistical tools like percentage
Data has been represented in pictorial forms like bar diagram,
pie charts, etc.

Data Collection:

Primary data:

These are the original data that the researcher directly collects and
has not previously collected.

22
For the purpose of the project, first-hand information was used in the
form of a structured questions on the basis of services, company name
and other possible aspects of the company. The questionnaire
contains 15 questions.

The respondent must select or tick the option that they think is
appropriate to their opinion. After the questionnaire is completed, the
researcher must prepare the interpretation of the data in a graphical
way.

Secondary Data:
These are the sources containing data that has been collected and
compiled for various other statistics required for the project. Various
websites and books were used to reference.

This research is based on primary data and also secondary sources are
required.
Sample Size:

The sample size of this research is done by taking 50 respondents

chosen randomly who were in regular touch with the intermediary
sales person of the company.

Reference Period:

23
For every research study, a proper time or dead line has to be set, it is
done in order to complete the work in time and a proper solution has
to be found out in the given time so that it can be implemented
without any delay. The time frame for this study was limited.
Limitations of the study:

This being an organizational study, suffers from time and cost

constraints.
Report findings do not make decisions. Market research
provides information upon which decision is made. Thus, it is
only a tool to aid decision making.
Information obtained from the management can be biased.
All information, research techniques adopted and suggestions
given are by an undergraduate student with the same level of
knowledge and understanding.

Chapter Scheme:

The first chapter gives an introduction to the 3d printing industry in

the world and in India, which includes the various methods of 3D
printing, its applications, major competitors, and growth of the
industry since its advent. With relevant information in the topic profile
about the focus on the subject of market research and analysis.

24
The second chapter contains the company profile, with a brief history
of the company since its beginning and with emphasis on the product,
SWOT Analysis and Organizational structure of the company.

The third chapter focuses on the methodology of the study I.e. the
way the study is being carried out, with reference to the objectives of
the study, limitations and method of data collection.
The fourth chapter consists of data analysis and interpretation from
the findings.
The fifth chapter includes summary of findings, suggestions and
conclusions.

25
Chapter 4: Data Analysis & Interpretation
4.1) Product

Table 4.1 shows the rating of the product in terms of its performance
on a daily basis for factory and research purposes.
Rating the quality No of Percentage of
respondents respondents
(%)
Excellent 25 50%
Good 12 24%
Average 10 20%
Poor 03 06%
Total 50 100%

Analysis:

From the above table its clearly seen that 74% of the customers of
the products service have rated the performance of the product as
excellent and good and only 26% have rated them below average.

26
 Figure 4.1 shows the graphical representation of the data received on
performance of the product based on 5 points.

performance rating

2.5
2.5
2
1.2
1.5 1
1
0.3
0.5
performance rating
0
poor average good excellent

performance rating

4.2) Opinion about availability

of logistics support for the
product
Product support Availability Respondents % of respondents

Always available 40 80%

27
Sometimes available 07 14%
Usually unavailable 03 06%

Total 50 100%

Analysis:
From the above table its clear that 80% of the consumers and
partners are satisfied with the availability of logistical support and
servicing whereas 20% are dissatisfied with the services provided by
the company.
Graph 4.2 showing the opinion about availability of logistical support
for the product.

Availability of support

Always Available Sometimes Available Usually unavailable

28
 Hence, its fair to assume that the customers are satisfied with the
tech support service provided by the company.

4.3) Analyzing the product

purchase behaviour of the
consumers
Different Products No. of respondents Percentage of
respondents

Julia v2(HIGH END) 10 20

Julia v1 25 50

Snowflake (LOW END) 15 30

Total 50 100

29
Analysis:
From the above table it is seen that 50% of the consumers prefer
purchasing the Julia V1, the mid-range printer, whereas another 20%
of the consumers went for the high-end Julia V2, and another 30%
chose the Snowflake, the basic level starter kit provided from fracktal
works.

Graph 4.3 showing product purchase behaviour on 5 points.

% of buyers

Julia V2

Julia V1

Snowball

0 0.5 1 1.5 2 2.5 3

% of buyers

30
From the data above, Its fair to say that the consumers prefer the
mid-range printer Julia V1 as 50% of the respondents have purchased
the product, which offers capacity to process in a small package at INR
50,000. On the other hand, Snowflake, the entry level 3D starter kit
sold more than the high end Julia V2, suggesting that the company
must work on reducing the costs on their costliest product provided.

4.4) Satisfaction with the

design of the product
Table 4.4 shows the satisfaction with the product designs of
Fracktal Works

Satisfaction of product design No. of Percentage of

respondents respondents

Highly Satisfied 35 70

Average 10 20

Requires Improvement 05 10

31
Total 50 100

Analysis:

From the above table it is seen that 70% of the respondents are
highly satisfied with the design of the products offered by
Fracktal Works, whereas 30% rated it as average and requires
improvement.
Figure 4.4 shows the satisfaction with the design of products of
Fracktal Works

Sales

Highly Satisfied Average Requires improvement

32
 From the above information and graph, its fair to correlate that
70% of the consumers are satisfied with the design and about
30% claim its average or requires improvement, hence
suggesting the company to improve product design to appeal to
the remaining 30% of the consumers as well.

4.5) Preferred material used

for 3D printing
Table 4.5 shows the preferred material used by
consumers for 3d printing needs

Material No. of respondents % of respondents

Polymers 20 40

High grade plastic 12 24

33
Additive material 18 36

Total 50 100

Analysis:
From the above table compiled from data collected, Its understood
that 40% of the consumers prefer using polymers, another 24% use
high grade plastic and the remaining 36% use additive materials.
Figure 4.5 graphically represents the materials used by consumers for
3D printing using fracktal works products

materials used

polymers high grade plastic additive materials

34
 From the above data, Its seen that usage of the three materials are
consistent to the uses of the consumer. All three are implemented by
consumers equally and basic upon their needs. But its clearly seen
that polymers are preferred compared to the other two, with 40% of
respondents choosing it. All three materials provide excellent output
to the consumer and fulfils the desired need in no time.

4.6) Product packaging of the

company

Table 4.6 shows the product packaging ratings of the

company given by different consumers of the product.
Product Packaging No. Of respondents % of Respondents

Good 30 60
Average 5 10

35
Excellent 15 30
Poor 0 0
Total 50 100

Analysis:
From the above table, 60% of the respondents find the packaging to
be good, 30% find it to be excellent and 10% find the packaging
average.
Figure 4.6 depicts the satisfaction towards the product packaging
graphically

product packaging satisfaction

good average excellent poor

36
Overall, the company received a 90% positive feedback on the
packaging of its product, as Its a key aspect for the company as most
of the clients are located either in different states of the country or to
the other partners in Europe and Asia. Improvements can be made to
bring out maximum level of satisfaction from the consumer base.

4.7) Quality check conducted

before Purchase
Table 4.7 shows whether there is a quality check before there
is a purchase of the product
Quality Check No. of % of Respondents
Respondents

Yes 35 70

No 15 30

Total 50 100

Analysis
From the above table, It can be seen that 70% of the
respondents have a quality checker (Certified individual to
check quality of the technology) and 30% of the respondents

37
did not have one to check the quality before purchasing the
product.

Figure 4.7 depicts the satisfaction based on the quality check

of the product

quality check

Yes No

From the above data, Its clear that most of the clients and
partners of the company have a certified quality checker,
whereas the remaining have not appointed one. The company

38
can tackle this issue by simply hiring a certified quality checker
to certify the product before sales and shipping proceeds.

4.8) Malfunctions in the

Products

Table 4.8 shows whether the products received by the sample

size had any malfunctions directly affecting the functioning of
the product.
Product defects No. Of % of respondents
respondents

Never 25 50
Rarely 10 20
Sometimes 15 30
Always 0 0
Total 50 100

Analysis:
From the above table, it can be stated that 50% of the
respondents never find the product malfunctioning, 30%
sometimes find the product malfunctioning and 20% rarely
see any defects in the product.

39
 Figure 4.8 shows whether the product malfunctions

Malfunction

Never Rarely Sometimes Always

From the above data, Its evident that the product has a less chance
of failure and only sometimes shows issues with its functioning. The
company can tackle this problem by doing further research and
development of the product, to improve all the aspects affecting the
3D printer to malfunction.

4.9) PRICE: Satisfaction with

the pricing of the product

Table 4.9 shows the satisfaction of customers on pricing of products

provided by Fracktal Works
40
Pricing of Products No. of Percentage of
respondents respondents

Satisfied 35 70

Indifferent 10 20

Dissatisfied 05 10

Total 50 100

Analysis:
From the above data, Its evident that 70% of the customers are
satisfied with the pricing of the product, while 20% had indifferent
feelings towards the pricing leaving 10% dissatisfied with the amount
the product is being priced at.
Figure 4.9 graphically depicts the satisfaction level of customers with
the pricing of the product by fracktal works

41
 Price Satisfaction

Satisfied Indifferent Dissatisfied

From the above graph, Its clear that Fracktal works provides a service
that most consider reasonable in the pricing aspect, but the company
can work on developing a cheaper 3D printer, to cater to the
dissatisfied customers and to also improve its marketing strategy, to
sell high-end printers at cheaper rates.

4.10) Criteria of respondents

while purchasing the
product

42
Table 4.10 shows the criteria of consumers while purchasing 3D
printers from Fracktal Works
Criteria No. Of respondents Percentage of
respondents

Durability (running 15 30
time of the product)
Quality of output 18 36

Price 12 24

Design 05 10

Total 50 100

Analysis:
From the above data, most of the customers set the criteria to
purchase the product on Durability (30%) and Quality of output (36%).
Another 24% of the customers chose the product for its pricing, and
10% went for its design.
Figure 4.10 depicts the criteria preferred by the consumers while
purchasing a 3D printer.

43
 Criteria

Durability Quality of Product Price Design

From the above data it can be understood that Consumers prefer

considering Durability and Quality of product as a criteria for
purchasing 3D printers.

4.11) PLACE: Rating of the

office layout & ambience

44
Table 4.11 shows the rating of Fracktal Works office and services
provided in the corporate headquarters.
Office Layout & Respondents % of respondents
Ambience

Excellent 22 44

Good 20 40

Average 08 16

Poor 0 0

Total 50 100

Analysis:
From the above data, its shown that 44% of respondents found the
office & ambience to be excellent, while 40% found it to be good, and
16% left it as only average.
Figure 4.11 depicts the rating of Fracktal Works office & ambience in
a graphical manner

45
 Series 1

Poor

Average

Good

Excellent

0 0.5 1 1.5 2 2.5

Series 1

Hence, Its seen that the Company received a decent response

towards the corporate headquarters to be Excellent and Good while
only a few individuals found it to be average. The company can focus
on improving in-house activities to entertain customers while waiting,
or work on the overall infrastructure to build an office straight out of
Silicon Valley.

4.12) Office Location

Accessibility

46
Table 4.12 shows data received on the office location accessibility

Office Location Respondents Percentage of

Accessibility respondents

Yes 35 70

No 15 30

Total 50 100

Analysis:
From the above table, it is seen that 70% of the respondents find the
office easily accessible and convenient to locate, on the other hand
30% of the respondents found the office hard to access and locate.
Figure 4.12 depicts % of satisfaction with location of the office

office location convenience

yes no

47
Fracktal Works has an office situated in a convenient location, hence
giving the company an advantage to accessibility from major parts of
the city. Another way to receive 100% positive feedback is for Fracktal
Works to open a second headquarters, which would be accessible to
other parts of the city.

4.13) Duration of delivery of

goods

Table 4.13 provides data on the time it takes for the vendors to deliver
the goods to the consumer

Delivery of goods No. of respondents % of respondents

On time 20 40

Late 5 10

Sometimes late 10 20

Earlier to delivery 15 30

Total 50 100

48
Analysis:
The above data states that 40% respondents goods are delivered on
time, 10% is delivered late, 20% stated that the goods are delivered
sometimes late and 30% respondents state that the delivery is prior
to its deadline.
Figure 4.13 depicts the satisfaction on delivery of goods for the
company

Duration of delivery of goods

on time late sometimes late earlier to delivery

From the above graph, it is interpreted that the goods mostly

delivered on time and before time. Only sometimes its delivered late
49
or its completely delayed. This can be worked on by improving
relations with shipping companies and creating a proper delivery
chain.

4.14) Awareness of Fracktal

Works

Table 4.14 shows awareness of fracktal works

Awareness Respondents % of respondents

Newspapers & 16 32
Magazines

Internet 14 28
Advertisements

Tradeshow & Events 10 20

References from 10 20
others

Total 50 100

50
Analysis:
From the above table, it is seen that 60% of respondents were aware
about fracktal works through newspapers, magazines and through the
internet. Rest of them received awareness from events in which
fracktal works participated or from references from other individuals
or organizations.
Figure 4.14 shows the awareness of Fracktal Works

Brand Awareness

Newspapers & Magazines Internet Advertisements Tradeshows & Events References from others

From the above graph, its figured that Fracktal Works received much
of its awareness from newspapers & internet advertisements from its
consumers, while receiving consumers from other platforms such as
51
events & tradeshows. Word of mouth advertising too has worked well
for Fracktal Works.

4.15) Overall rating of Fracktal

Works
Table 4.15 shows the ratings for Fracktal Works
Ratings No. of Respondents Percentage of
respondents
1. Being poor 0 0
2. Being average 3 6
3. Being good 25 50
4. Being excellent 15 30
5. Being 7 14
outstanding
Total 50 100

Analysis:
From the above data Its shown that above 80% of the respondents
chose Fracktal Works to be above being average.
Figure 4.15 depicts the data in a graphical form

52
 Overall rating of Fracktal Works
3

2.5

1.5

0.5

0
being poor being average being good being excellent being outstanding

Overall rating of Fracktal Works

It can be interpreted that maximum number of respondents have

rated the company 3 on 5 stands for good and also several of them
rated it 4 being excellent. These ratings are done by the respondents
on the basis of the overall experience with the company.

ANALYSIS OF GROWTH IN DATA- SIZE &

VALUE
Growth in Size (workforce)
Fracktal Works has grown its team from 5 people to approximately
100 people ever since its beginning as a start-up.
Table 4.16 shows the growth in the workforce from the start
year No. of employees Increase
percentage

53
2013 5 0

2014 16 220%

2015 51 218.75%

2016 75 47.06%

2017 105 40%

From the above data, it can be observed that Fracktal Works has had
its highest rates of employment during the years 2014-2015, with
approximately 220% increase in hiring employees. A decrease can be
observed post 2015, with both 2016 and 2017 having only a 40%
increase in the workforce.

Figure 4.16 depicts the growth of no. of employees through the years
120
Increase in workforce
100

80

60

40

20

0
2013 2014 2015 2016 2017
Increase in workforce

54
Growth in Value

Table 4.17 gives data on Fracktal Works valuation from 2013-2017

Year Value(million$) % growth
2013 0.5 0
2014 1.8 260%
2015 2.98 1.18%
2016 3 0.67%
2017 2.95 -1.67%

From the above data, it can be observed that Fracktal Works amassed
funding in the year 2014-2015 (approx. 3 million) and used It majorily
for expansion of its team and to increase their skillsets. Towards the
current year, Fracktal Works has been holding on to its valuation as
much as it can.
Figure 4.17 depicts the growth in valuation from 2013-2017
Growth in valuation
3.5

2.5

1.5

0.5

0
2013 2014 2015 2016 2017

Growth in valuation

55
Chapter 5: Summary of Findings,
Suggestions and Conclusion
5.1 Summary of Findings
Questionnaire:
It signifies that majority of respondents have rated the
performance of the product excellent which is 74%
It signifies that majority of respondents are satisfied with the
logistical support provided which is 80%
It signifies the purchasing behaviour of the respondents, which
received 50% response for Julia V1 and 50% for the other
products.
IT signifies that majority of respondents are satisfied with the
design of the product which is 70%
It signifies the majority within the material used which is
polymer at 40%
It signifies the rating of the packaging of the product which
received 90% as good.
It signifies whether a quality control check was conducted on a
purchase which received a majority vote of yes at 70%
It signifies the chances of malfunctioning of the 3D printer which
is rated at 50% as never.
It signifies the satisfaction of the consumer towards the price of
the product which received a 70% satisfaction rate.
It signifies the criteria the consumer takes when considering the
purchase of a 3D printer, which received Durability at 30% and
quality of output at 36%.

56
 It signifies that majority of respondents rated the office above
average which is 84%
It signifies the accessibility of the location of the office which
received a 70% yes by the respondents.
It signifies the satisfaction with the delivery of the product to the
consumer which received a 40% on time.
It signifies the ways in which the consumer was given awareness
of the product which received media like newspaper, internet at
over 60%
The last question was for the overall rating of the experience
with fracktal works, which received an 80% above of positive
reviews.

5.2 Suggestions

Different Marketing Strategies to enhance the entry of the company

within its sector are listed as follows:
1) Increase product and technology implementation
awareness through consulting services, training,
workshops etc.
2) Relaunching brand image, reorganizing business and
developing comprehensive ecosystem
3) Innovate to reduce the existing barriers of high cost and
speed and enter mass production.
4) Focusing on the personalized consumer market of 3D
printing and develop a robust sales and marketing team.
5) Obtain operational efficiency, improve financial
performance and regain investor confidence in
business.
57
 Possible Solutions with Pros & Cons

Option Pros Cons

Invest in industry demand No risk of 3D printing is an
demand- evolving market; so
supply accurate consumer
mismatch analysis is difficult.
and revenue
loss

Expand externally by merger & Quick Increased risk of

acquisitions increase in acquiring obsolete
global intangible assets and
market share added cost.
and
eliminate
competitors

58
Rebranding, reorganization & Long term Strategic
innovation growth and implementation
re-establish involves high risk.
the brand as
market
leaders
eliminating
threats from
competitors

5.3 Conclusion
It is clear to Fracktal Works that good customer service is vital. For the
company to grow further than where it is right now, It would require
to focus on customer satisfaction and retention with excellent IT and
technical services for their current products and continue working
hard for developing their future line of 3D printers and various other
products through concentrated research & development. Another
amend would be to create a new organization structure, something to
deal with the future growth in workforce.
The companies vision and mission can by fulfilled through continuous
dedication from the brilliant workforce and more idea building and
brainstorming.
My experience at Fracktal works was truly educational as I not only
got to get an inside on the functioning of the company, but equivalent
knowledge on the product and the process through which it functions.

59
 Annexure

Questionnaire on a study of consumer buying behaviour and

satisfaction on Fracktal Works
I am a student of JU-CMS, Bangalore as a part of our curriculum, I am
doing my minor project at Fracktal Works and I have a study on
consumer buying behaviour and satisfaction. I further assure you that
the data collected will be used for academic purposes and will be
strictly held confidential.
Name:

Age:

Gender:

Occupation:

Tick the option you find appropriate

1) How would you rate the performance of the products

provided by Fracktal Works?
a)Excellent b)Good c)Average d)Poor

2) How would you rate the availability of logistics support

provided by Fracktal Works for the range of their products?
60
 a)Always Available b)Sometimes available c)Usually
unavailable

3) What product have you purchased from the range of

products provided by Fracktal works?
a) Julia V1 b) Julia V2 c) Snowflake

4) How satisfied are you with the overall design of the

product?
a) Highly satisfied b) Average c)
Requires improvement

5) What is your preferred material to use for your 3D printing

needs?
a) Polymers b) High grade plastic c) Additive material

6) How satisfied are you with the packaging of product

received?
a) good b) average c) excellent d) poor

7) Have you conducted a quality check for your product?

a) Yes b) No

8) How often do you notice the product showing

defects/malfunctioning?
a) Never b) Sometimes c) Rarely d) Always

9) Are you satisfied with the pricing of the product?

a) Highly satisfied b) Indifferent c) dissatisfied

61
10) What criteria would you consider before purchasing
a 3D printer?
a) Durability (Run time) b)Quality of output c) Design
of product d) Pricing
11) How would you rate the corporate headquarters of
Fracktal works?

a) poor b) average c) good d) excellent

12) Is the location of the headquarters easily accessible

to you?
a) Yes b) No
13) How was your experience with the delivery service of
the product?
a) On time b) Late c) Sometimes late d) Earlier to
delivery

14) How did you learn of Fracktal Works?

a) Newspaper/Magazines b) Internet
c)Tradeshow/Events
d) Reference from individual/organization

15) How would you overall rate your experience with

Fracktal works pt. Ltd?
a) Being poor
b) being average
c)being good
d)being excellent
e) being outstanding

62
Bibliography

http://www.marketsandmarkets.com/Market-Reports/3d-
printing-market-
1276.html?gclid=Cj0KCQjwv_fKBRCGARIsAL6R6egNZjTVKWel
0NqL3Z85YalsLPvmZ0WKIbNY5o6wUSwP38Turi8t6KQaAl3m
EALw_wcB

https://3dprint.com/141762/research-and-markets-2022/

https://www.alliedmarketresearch.com/3d-printing-market

https://yourstory.com/2015/06/fracktal-works-seed-
funding/

https://en.wikipedia.org/wiki/Fused_deposition_modeling

https://www.prophet.com/downloads/books/AakerOnBran
ding_web.pdf

63
64