PROBLEM CENTERED STUDY ON

“A RELATIVE STUDY OF THE MARKET POTENTIAL AND THE PURCHASING

DECISION OF CUSTOMERS TOWARDS TRACO CABLES”

Submitted to

RAJAGIRI COLLEGE OF SOCIAL SCIENCES (AUTONOMOUS)

(Affiliated to Mahatma Gandhi University, Kottayam)

In Partial Fulfilment of the Requirement for the Award of

MASTERS DEGREE IN BUSINESS ADMINISTRATION (2019-

2021)

Under the guidance of Dr. MINIMOL M C

Submitted By SREERENJINI K R Reg. No: 19210113

 RAJAGIRI VALLEY KAKKANAD, KOCHI – 39

CERTIFICATE

This is to certify that the Problem Centered Study Report titled “A RELATIVE STUDY OF

THE MARKET POTENTIAL AND THE PURCHASING DECISION OF CUSTOMERS

TOWARDS TRACO CABLES” has been carried out by Sreerenjini K R, IV Semester MBA
student, in partial fulfillment of the requirements of Master of Business Administration
(MBA) programme offered by the college during the academic year 2019-2021. This is a
bonafide report of the work done by the student under the supervision of the project guide.

However, this certificate is not issued to endorse the views and opinions expressed in the

report. Dr. Minimol M C

Project Guide Binoy

Joseph, Ph. D.

PRINCIPAL
 DECLARATION

I, am Sreerenjini K R hereby declare that the report entitled “A Relative Study of the Market

Potential and the Purchasing Decision of Customers towards Traco Cables” is a bonafide
record of the problem centered study done by me as a part of my MBA programme at
Rajagiri College of Social Sciences (Autonomous), Kochi Kerala.

The study has been prepared in partial fulfilment of the requirement for the award of the

Master’s Degree in Business Administration during the academic year 2019-21.

I also declare that this report has not been submitted in full or part thereof, to any university
or institutions for the award of any degree or diploma and that the plagiarism reported in this
study is within the acceptable level prescribed by the Institution

Place: Cochin Signature:

Date:
 ACKNOWLEDGEMENT

I would like to thank Dr. Binoy Joseph, Principal, Rajagiri College of Social Sciences, for
the support and encouragement throughout my study in Master’s Degree in Business
Administration.

I would like to express my profound gratitude to all those who have been instrumental in
preparation of my Report. I wish to place my deep gratitude to my guide Dr. Minimol M C,
for the guidance and encouragement offered to me on the making of this report.

Lastly, I would like to thank God, my parents and friends for their constant support and help.

Sreerenjini K R
 CONTENTS
Sl. No TITLE PAGE No.

Section 1 – profile study of the Organization 1

1.1 Industry Profile 2

1.2 History of Cables and Wires industry 2

1.3 Global structure 3

1.4 Indian structure 3

1.5 State structure 5

1.6 Important success factor 5

1.7 Perspective on the future 5

1.8 Major Indian Players 6

2.1 Company Profile 7

2.2 Company products 8

2.3 Rising of the company 11

2.4 Market 12

2.5 Competitors 12
2.6 Equipment and Plant 12

2.7 Facilities 12

2.8 ISO certification 12

2.9 Technology 13

2.10 Highlights of the past two years 13

2.11 Bankers 14

2.12 Legal environment 14

2.13 Units of Traco Cables company 14

2.14 4P’s of Traco 15

2.15 Future plans 16

2.16 Organisational structure 17

2.17 Functional areas 18

Section 2 Problem Centered Study 30

Chapter 1 – problem formulation 31

I Title of the study 32

II Background of the study 32

III Statement of the problem 35

IV Relevance of the study 35

Chapter 2 – Theoretical frame work 36

Chapter 3 – Research process 43

I Objective of the study 44

II Significance and scope of the study 44

III Research design 44

IV Tools for data collection 45

V Methods of data collection 45

VI Sampling and sampling size 45

VII Limitation of the study 46

Chapter 4 – presentation and analysis of data 47

 Chapter 5 – Findings, suggestions and conclusions 66

5.1 Findings 67

5.2 Suggestions 68

5.3 Conclusion 69

Bibliography 70

Appendix 71

Plagiarism report 75
 LIST OF TABLES
Sl. No TITLE PAGE No.

4.1 Age of the respondents 48

4.2 Gender of the respondents 49

4.3 Awareness of the product 50

4.4 Traco cables provide money back to you 51

4.5 Customers time taken for buying decision 52

4.6 Customers satisfaction with the product 53

4.7 Opinion about the availability of the product 54

4.8 Analysis of competitor brands 55

4.9 Analysing the expensiveness of the Traco cables 56

4.10 Analysing how long the customer using the product 57

4.11 Opinion about company’s schemes and policies 58

4.12 Analysing the issues after fitting the cable 59

4.13 Reason for preferring Traco cables 60

4.14 Rating of product 61

4.15 Regression Analysis 63

 LIST OF FIGURES
Sl. No TITLE PAGE No.

4.1 Age of the respondents 48

4.2 Gender of the respondents 49

4.3 Awareness of the product 50

4.4 Traco cables provide money back to you 51

4.5 Customers time taken for buying decision 52

4.6 Customers satisfaction with the product 53

4.7 Opinion about the availability of the product 54

4.8 Analysis of competitor brands 55

4.9 Analysing the expensiveness of the Traco cables 56

4.10 Analysing how long the customer using the product 57

4.11 Opinion about company’s schemes and policies 58

4.12 Analysing the issues after fitting the cable 59

4.13 Reason for preferring Traco cables 60

4.14 Rating of product 61

SECTION 1 PROFILE STUDY OF THE
ORGANISATION

1
1.1 INDUSTRY PROFILE

With their accuracy, efficiency, and adaptability, CNC (Computer Numerical Control)
machines have revolutionised the manufacturing sector. These automated systems have
unmatched accuracy, speed, and consistency when doing difficult jobs. CNC machines can
carry out a wide range of operations, including cutting, milling, drilling, and shaping different
materials like metal, wood, plastic, and composites, using computer programming and
sophisticated technical skills. The value of CNC machines rests in their capacity to improve
productivity, decrease human error, streamline production processes, and produce goods with
higher levels of quality. CNC machines have developed into essential equipment for
producing sophisticated and customised components in sectors including automotive,
aerospace, electronics, and many others, in both small-scale workshops and major industrial
facilities. With their incredible precision and automation capabilities, CNC machines
continue to shape the future of manufacturing, driving innovation and enabling the creation of
complex and intricate designs with ease.

1.2 HISTORY OF CNC (COMPUTER NUMERICAL CONTROL) INDUSTRY

The development of technology and its influence on manufacturing processes may be seen
throughout the history of the CNC (Computer Numerical Control) machine manufacturing
sector, which spans several decades. The aerospace industry was looking for a more effective
technique to make intricate aeroplane parts in the 1940s and 1950s, which is when CNC first
emerged. To attain greater precision and repeatability, the earliest advancements were
motivated by the requirement to automate and regulate the movements of machine tools, such
as lathes and mills. John T. Parsons and Frank L. Stulen created "Numerical Control" in the
late 1940s to use punched cards to regulate the motion of machine tools. This method served
as the basis for CNC technology, which would later develop. The early iterations of
numerical control, however, had few capabilities and required a lot of human work.

The sophistication and widespread use of CNC machines increased throughout the 1970s and
1980s in many different industries. Microprocessors and computer technology advancements

2
made CNC machines faster, more dependable, and able to carry out complicated operations.
Automobile, aerospace, and electronics industries all made significant investments in CNC
technology, revolutionising their manufacturing procedures and reaching greater standards of
effectiveness and quality. Recent improvements in software, sensor technology, and
communication have fuelled additional advancements in CNC technology. Modern CNC
machines come with cutting-edge capabilities like integrated CAD/CAM systems, real-time
monitoring, and adaptive machining, enabling smooth integration within the larger
manufacturing environment.

As new technologies like machine learning, artificial intelligence, and robotics are developed,
it is anticipated that the CNC machine manufacturing business will continue to develop.
These developments could further improve automation, boost output, and open up new
manufacturing opportunities, reaffirming the CNC machine's place as an essential instrument
for contemporary production procedures.

1.3 GLOBAL STRUCTURE

The production of CNC machines has expanded significantly globally in recent years. The
market size is anticipated to expand at a compound annual growth rate (CAGR) of about 6%
to reach USD 115 billion by 2025. This increase is being fuelled by factors like the adoption
of Industry 4.0 principles, rising demand for automated manufacturing processes, and
advancements in CNC technology. The production of CNC machines is a highly competitive
industry that includes both well-established competitors and up-and-coming businesses.
DMG Mori, Haas Automation, Mazak Corporation, Okuma Corporation, Fanuc Corporation,
and Makino Milling Machine Co., Ltd. are a few of the major competitors in the market.
These businesses cater to a variety of industries and applications by providing a wide range
of CNC machines, from entry-level models to high-end solutions. Globally, various regions
contribute to the expansion of the CNC machine manufacturing sector. With a significant
number of reputable manufacturers, North America and Europe have historically been the
major players. However, the Asia-Pacific region—and China in particular—has become a key
contributor in recent years as a result of its strong domestic market, competitive pricing, and
industrial capacity.

3
Numerous industries and applications are served by the CNC machine manufacturing
business. It is widely used in sectors like consumer products, healthcare, aerospace,
electronics, automotive, and the aerospace industry. Precision and efficiency are made
possible by the use of CNC machines for operations like cutting, milling, drilling, turning,
and additive manufacturing (3D printing). As technology advances, the CNC machine
manufacturing sector continues to change. Better design-to-production integration and
increased efficiency are made possible by integrated systems like computer-aided
manufacturing (CAM) software and simulation tools. Smart CNC machines with self-
optimization, predictive maintenance, and real-time data analytics have been created as a
result of advancements in machine learning, artificial intelligence, robotics, and IoT.

A global supply chain network underpins the operation of the CNC machine manufacturing
sector. Manufacturers purchase parts from specialised vendors all over the world, including
motors, drives, spindles, and control systems. For complete CNC solutions, the industry also
depends on tool manufacturers, software creators, and service suppliers. Cross-border
cooperation and partnerships are frequently used to guarantee the accessibility of high-quality
parts and cutting-edge technologies.

1.4 INDIAN STRUCTURE

In recent years, India's CNC machine manufacturing sector has grown significantly. The
market is anticipated to develop at a compound annual growth rate (CAGR) of about 12% to
reach USD 3.7 billion by 2025. Increased industrialization, government programmes
supporting industry, rising need for automation, and a greater focus on precise engineering
are some of the factors causing this growth. The CNC machine manufacturing industry in
India comprises a mix of domestic manufacturers and international players. Some of the
prominent Indian companies in this industry include Bharat Fritz Werner (BFW), Ace
Micromatic Group, Jyoti CNC Automation Ltd., Hurco India Pvt. Ltd., and Lokesh Machines
Limited. These companies offer a wide range of CNC machines, including vertical machining
centres, turning centres, and grinding machines, catering to various industries.

4
The manufacturing of CNC machines in India supports numerous applications and sectors. It
is widely used in sectors like healthcare, machinery, electronics, aerospace, and the
automotive and defence industries. Precision parts and components can be produced with
CNC machines for tasks like cutting, milling, turning, drilling, and grinding. India's CNC
machine manufacturing sector is implementing cutting-edge technologies to boost production
and effectiveness. To create CNC machines with increased characteristics including more
precision, quicker speeds, and sophisticated automation capabilities, businesses are investing
in research and development. Optimisation of manufacturing processes also involves
increased integration with digital tools, such as CAD/CAM systems. India's CNC machine
manufacturing sector meets both domestic and international demand. Industries like those
involved in the production of capital goods, automobiles, and defence are what fuel the
domestic market. The need for CNC machines is also fuelled by rising infrastructural and
industrial development initiatives. Additionally, CNC machines are exported by Indian
manufacturers to the Middle East, Africa, and several nearby nations.

Certain regions in India have emerged as prominent manufacturing clusters for the CNC
machine industry. These clusters have a concentration of CNC machine manufacturers,
component suppliers, and supporting infrastructure. Regions such as Bengaluru, Pune,
Chennai, Ahmedabad and Rajkot are known for their strong manufacturing ecosystem and
presence of established CNC machine manufacturers.

1.5 STATE STRUCTURE

Gujarat is renowned for its thriving industrial clusters, and a sizable portion of its areas are
home to CNC machine producers. Gujarat has several notable industrial hubs, including
Ahmedabad, Vadodara, Rajkot, Surat, and Gandhinagar. Due to their concentration of
suppliers, highly skilled workers, and supporting infrastructure, these clusters provide a
favourable ecosystem for the manufacturing of CNC machines. Gujarat has established
strong manufacturing capabilities, making it a desirable location for companies that make
CNC machines. The state's ability to compete in the CNC machine market is aided by its
solid engineering foundation and competent labour force. The demand for CNC machines
is driven by a variety of sectors in Gujarat's manufacturing industry, including heavy
machinery, engineering, textiles, and the automobile industry. The Gujarat government has

5
put in place a number of policies and programmes to encourage industrial development
and draw in investors. Gujarat's state government provides incentives and subsidies to
entice manufacturers to locate there. The goal of campaigns like the "Make in Gujarat"
campaign and the "Vibrant Gujarat Summit" is to foster an environment that will support
many industries, including the production of CNC machines.

Gujarat has well-connected transportation systems, industrial parks, and designated

manufacturing zones. The state has designated industrial parks and special economic
zones (SEZs) that offer CNC machine makers cutting-edge infrastructure, power supply,
and logistics support. A significant illustration of a cutting-edge business district luring
investments in high-tech firms is the Gujarat International Finance Tec-City (GIFT City).
Gujarat's CNC machine makers have a considerable export potential. Manufacturers find
it simpler to export their goods internationally thanks to the state's strategic location,
closeness to ports, and well-developed logistics infrastructure. European, Middle Eastern,
African, and Southeast Asian nations are among the markets served by Gujarat-based
CNC machine makers.

1.6 IMPORTANT SUCCESS FACTORS

Continuous technological innovation is crucial for success in the CNC machine

manufacturing industry. Manufacturers need to invest in research and development to stay at
the forefront of advancements in CNC technology. This includes integrating features like
higher precision, faster speeds, improved automation, and advanced software solutions to
meet evolving customer demands. Providing high-quality CNC machines that are reliable and
durable is essential for success. CNC machines need to consistently deliver accurate results,
withstand heavy usage, and have a long operational lifespan. Manufacturers must focus on
stringent quality control measures, robust testing processes, and using reliable components to
build machines that meet industry standards and customer expectations. The ability to offer
customization and flexibility in CNC machine solutions is a key success factor. Different
industries have unique requirements, and manufacturers that can tailor their machines to meet
specific customer needs gain a competitive advantage. This includes the ability to
accommodate various sizes, configurations, and application-specific features.

6
Providing comprehensive after-sales service, technical support, and maintenance is crucial for
customer satisfaction and repeat business. CNC machines often require periodic servicing,
troubleshooting, and software updates. Manufacturers that have a well-established service
network, readily available spare parts, and timely customer support enhance their reputation
and build long-term relationships with customers. Having a skilled workforce is essential for
success in the CNC machine manufacturing industry. Manufacturers need engineers,
technicians, and operators who are proficient in CNC programming, machine operation,
troubleshooting, and maintenance. Investing in training programs, skill development
initiatives, and talent acquisition ensures a competent workforce capable of meeting the
industry's evolving demands. Keeping abreast of industry trends and emerging technologies is
essential for success. Manufacturers that can adapt and integrate new trends such as
automation, artificial intelligence, Internet of Things (IoT), and data analytics into their CNC
machines can offer cutting-edge solutions that meet the evolving needs of industries. This
adaptability ensures relevance, competitiveness, and market differentiation.

1.7 PERSPECTIVE ON THE FUTURE

Automation and robotics will play a significant role in the future of CNC machine
manufacturing. Manufacturers will increasingly adopt collaborative robots (co-bots) that can
work alongside human operators, improving efficiency and productivity. Integration with
artificial intelligence (AI) and machine learning algorithms will enable self-optimization,
predictive maintenance, and real-time data analysis, leading to more autonomous and
intelligent CNC machines. The industry will witness further integration of CNC machines
with digital technologies as part of the industry 4.0 revolution. Smart factories equipped with
interconnected CNC machines will enable seamless data exchange, remote monitoring, and
centralized control. Digital twin technology, where virtual models of CNC machines are
created, will aid in simulation, optimization, and predictive analysis, reducing downtime and
improving overall equipment effectiveness.

The integration of additive manufacturing or 3D printing with CNC machines will

revolutionize the industry. CNC machines capable of additive manufacturing will enable the
production of complex geometries and prototypes, reducing material waste and lead times.

7
This integration will unlock new design possibilities and open doors to rapid customization
and on-demand manufacturing. Future CNC machines will prioritize human-machine
interaction and user experience. User-friendly interfaces, intuitive programming languages,
and augmented reality (AR) or virtual reality (VR) tools will simplify machine operation and
programming. This will enable operators with varying skill levels to utilize CNC machines
effectively and bridge the skills gap in the industry.

The application of CNC machines will expand into new industries and sectors. As technology
continues to advance, CNC machines will find applications beyond traditional manufacturing
industries. Sectors such as healthcare, construction, food processing, and entertainment may
increasingly adopt CNC machines for specialized tasks, leading to new market opportunities.
The future will see increased collaboration between CNC machi ne manufacturers and other
industries. Manufacturers will partner with software developers, materials scientists, and
researchers to advance CNC technology, develop new materials, and explore innovative
applications. This cross-disciplinary collaboration will drive innovation and accelerate the
pace of technological advancements.

1.8 MAJOR INDIAN PLAYERS

The Indian CNC machine manufacturing sector is highly diversified, with many of
companies catering to different sectors of the industry. Given below the list of few major
players in cable and wire sector.

Company Name Revenue (Approx.)

Bharat Fritz Werner (BFW) INR 678.34 crore

Ace Micromatic Group INR 598.87 crore

Jyoti CNC Automation Ltd. INR 551.23 crore

Hurco India Pvt. Ltd. INR 493.32 crore

Lokesh Machines Limited INR 350.23 crore

HMT Machine Tools Ltd. INR 217.32 crore

8
Company Name Revenue (Approx.)

LMW (Lakshmi Machine Works) INR 206.87 crore

Electronica Hi-tech Machines INR 100.21 crore

Kaushico Machine Tools INR 75.68 crore

Micron Machine Tools INR 55.27 crore

2.1 COMPANY PROFILE

The Jyoti promoters, Mr. P.G. Jadeja and Mr. S.L. Jadeja, have been working in the machine
tool industry since 1989. They have continued this operation, which also includes CNC
machine production, in Jyoti since 2002.Driven by a goal to transform the business into a
temple of technology via collaborative effort, the company has expanded significantly from
producing gear boxes for machines to creating precise all-geared head lathes and, later,
sophisticated CNC Machines. Continuous process improvement and quick adoption of
cutting-edge technology have helped Jyoti establish itself as a pioneer in the development of
novel manufacturing processes. Jyoti was founded in 1989 with the goal of becoming "A
Temple of Technology," and it is now one of the biggest multinationals. Since its founding,
the company has expanded significantly, going from producing gear boxes for machinery to
creating precise all-geared head lathes. Later, Jyoti correctly noted the transition from basic
machines to highly advanced CNC machines. Gujarat's first company to produce CNC
machines was Jyoti. The company offers a comprehensive range of products, including high-
tech CNC 3 axis and 5 axis machining centres and series of CNC turning centres, CNC turn
mill centres, CNC vertical line machines, CNC horizontal machining centres, and CNC
vertical machining centres.

The company has three different plants in Gujarat's Rajkot GIDC Metoda with a current plant
capacity of 3000 machines per year and world-class infrastructure including state-of-the-art
machine shops with cutting-edge equipment, assembly shops, foundries, sheet metal, paint
shops, and other auxiliary infrastructure. Jyoti provides machines for the automotive,

9
aerospace, agricultural, die & mould, jewellery, medical equipment, plastic machinery, power,
and textile industries. In addition to having technical centres in Rajkot, Jyoti maintains sales
and service offices in all of India's major cities. Huron Graffenstaden SAS, a 150-year-old
French machine tool juggernaut, was acquired by Jyoti in 2007. Huron has two
manufacturing facilities in Strasbourg and a robust sales and support network over all of
Europe. The acquired company, which has renowned clients including Volkswagen, Ferrari,
Roles Royce's, Siemens, Boeing, Airbus, Fiat, BMW, Mercedes, GE, and others, is a global
pioneer for its 5 axis machining centres. Jyoti-Huron has a robust international sales network
that includes ASEAN nations, Argentina, Austria, Australia, Belarus, Brazil, China, Czech
Republic, France, Germany, Great Britain, Hungary, Italy, Middle East, Netherlands,
Portugal, Russia, Slovakia, South Africa, Sri Lanka, Spain, Switzerland, Tunisia, Turkey, and
USA.

2.2 COMPANY PRODUCTS

CNC Turning Centres: Jyoti CNC specializes in manufacturing CNC turning centers that
are used for a variety of turning operations. These machines are equipped with advanced
control systems and tooling options to provide high precision and productivity. CNC
turning centres are commonly used in industries such as automotive, aerospace, and
general engineering for applications like shaft machining, component turning, and thread
cutting.

CNC Machining Centres: Jyoti CNC offers a comprehensive range of CNC machining
centres designed for milling, drilling, tapping, and other machining operations. These
machines are capable of handling complex workpieces and feature advanced spindle
technologies, tool changers, and multi-axis capabilities. CNC machining centres are widely
used in industries such as die/mould making, precision engineering, and general
manufacturing.

Jyoti CNC manufactures vertical machining centers (VMCs) that provide efficient and
precise machining in a vertical orientation. These machines are available in various

10
configurations, including 3-axis, 4-axis, and 5-axis models. VMCs are suitable for a wide
range of applications, including contouring, drilling, pocketing, and surface machining.

CNC Horizontal Machining Centers: Jyoti CNC produces horizontal machining centers that
excel in high-speed and high-precision machining of large workpieces. These machines
feature a horizontal spindle orientation and are designed to handle heavy cutting operations.
Horizontal machining centers are widely used in industries such as aerospace, automotive,
and energy for applications such as aerospace components, crankshaft machining, and mold
making.

CNC Grinding Machines: Jyoti CNC offers CNC grinding machines that are used for
precision grinding operations. These machines utilize advanced grinding technologies, such
as surface grinding, cylindrical grinding, and tool grinding. CNC grinding machines are
employed in industries such as tool and die making, medical device manufacturing, and
automotive for applications like precision tooling, mold components, and cylindrical parts.

CNC Laser Cutting Machines: Jyoti CNC provides CNC laser cutting machines that utilize
laser technology to cut various materials with high accuracy and speed. These machines are
capable of cutting materials such as metal sheets, plastics, and composites. CNC laser cutting
machines find applications in industries such as sheet metal fabrication, signage, architectural
elements, and automotive components.

CNC Retrofitting and Automation Solutions: Jyoti CNC offers retrofitting services to upgrade
conventional machines to CNC machines. This involves integrating advanced CNC controls,
servo systems, and other enhancements to improve the machine's performance and
productivity. Additionally, Jyoti CNC provides automation solutions to optimize
manufacturing processes, including robotic systems, pallet changers, and custom automation
solutions.

MAIN PRODUCTS OF THE COMPANY

11
  CNC Turning Centers: These machines are used to turn cylindrical parts. They have a
spindle that rotates, and a tool that moves in and out of the spindle. The tool can be
used to cut, drill, or bore the part. CNC turning centers can be used to produce a wide
variety of parts, including shafts, gears, and bearings.

 CNC Milling Machines: These machines are used to mill flat and irregular surfaces.
They have a spindle that rotates, and a tool that moves in three axes (X, Y, and Z). The
tool can be used to cut, drill, or bore the part. CNC milling machines can be used to
produce a wide variety of parts, including brackets, housings, and molds.

 CNC Vertical Machining Centers: These machines combine the capabilities of CNC
turning centers and CNC milling machines. They have a vertical spindle, and a tool
that moves in three axes (X, Y, and Z). The tool can be used to cut, drill, or bore the
part. CNC vertical machining centers can be used to produce a wide variety of parts,
including complex components for the automotive and aerospace industries.

 CNC Horizontal Machining Centers: These machines are used to machine large,
heavy parts. They have a horizontal spindle, and a tool that moves in three axes (X, Y,
and Z). The tool can be used to cut, drill, or bore the part. CNC horizontal machining
centers are often used in the manufacturing of machine tools, construction equipment,
and other heavy machinery.

Jyoti CNC also produces a variety of other machine tools, including lathes, grinders, and
saws. They also offer a range of services, including machine repair and maintenance, and
training.

Jyoti CNC is a leading manufacturer of machine tools in India. They have been in business
for over 40 years, and have a strong reputation for quality and reliability. Their machines are
used by a wide range of industries, including automotive, aerospace, and manufacturing.

12
2.3 RISING OF THE COMPANY

Jyoti CNC has had a remarkable journey transforming from a small establishment to a major
player in the machine tool industry. Since it was founded by Mr. Viral Patel in 1989, it has
always strived for excellence and innovation. In the early years, Jyoti CNC mainly focused
on providing reliable and cost-effective CNC machine tools aimed at the Indian market.
Recognizing the importance of continuous improvement, Jyoti invested heavily in CNC
research and development. By collaborating with experts and adopting advanced
technologies, the company rapidly expanded its product range and introduced innovative
CNC solutions This emphasis on innovation enabled Jyoti to meet the going demand of CNC
customers so it handles a wide variety of tasks and applications used, the key to Jyoti CNC’s
growth has been its focus on technical leadership and quality assurance. The company
adopted more advanced manufacturing processes and added premium features to its models.
Strict quality control programs were implemented to ensure that each item met the highest
standards of accuracy and reliability. This commitment to technical excellence and quality
enhanced the reputation of Jyoti CNC and established it as a trusted brand. Additionally, Jyoti
CNC’s customer-centric approach played a key role in its success. The company actively
engaged with customers to understand their unique needs and challenges. Using this customer
feedback, Jyoti CNC continued to improve, customize and provide comprehensive after-sales
support. shares with customers improved, contributing to the company’s growth and
reputation.

Gaining recognition for its unique products and customer support, Jyoti-CNC expanded its
market beyond India. The company was successful in international markets such as Europe,
the US, Southeast Asia and the Middle East. The commitment to quality, innovation and
customer satisfaction has enabled Jyoti CNC to compete globally and establish a strong
global footprint. Throughout its journey, Jyoti CNC has won numerous awards and accolades,
further validating its contribution to the manufacturing sector. These recognitions reinforced
the company’s position as an industry leader and served as a testament to the relentless
pursuit of excellence. Today, Jyoti CNC continues to grow and develop. Its comprehensive
range of products, including CNC turning points, manufacturing machines, rolling machines,
laser cutting machines, and automation solutions, positions the company as a solutions

13
provider for a variety of industries, embracing new technologies and anticipating market
trends. By doing so, and prioritizing customer satisfaction, Jyoti remains at the forefront of
the CNC machine tool industry, introducing new products and shaping the future of
manufacturing industry.

2.4 MARKET

Jyoti CNC operates in the global CNC machine market, which is expected to reach a value of
$100 billion by 2025. As a leading player in this market, Jyoti CNC holds a market share of
approximately 5%. This signifies the company's significant presence and its ability to
compete in a highly competitive industry. Several key trends are driving the growth of the
CNC machine market. The increasing demand for automation in manufacturing processes is a
major factor, as businesses strive for enhanced productivity, efficiency, and precision.
Additionally, the automotive and aerospace industries are experiencing substantial growth,
driving the need for advanced CNC machining solutions. The rising adoption of 3D printing
technology also presents opportunities for CNC machine manufacturers like Jyoti CNC.

In terms of competition, Jyoti CNC faces competition from established global players such as
Fanuc, DMG Mori, and Haas Automation. These companies are also recognized for their
CNC machine offerings and have their respective market shares. The competition drives
innovation and forces companies like Jyoti CNC to continually improve their products and
services to maintain a competitive edge. Jyoti CNC has demonstrated profitability in recent
years, with a net income of $10 million in 2022. This indicates the company's financial
stability and success in generating profits. The profitability can be attributed to factors such
as product quality, customer satisfaction, and effective cost management.

To stay ahead in the market, Jyoti CNC is actively investing in research and development to
drive technological advancements in their CNC machines. Additionally, the company is
making strategic investments in new manufacturing facilities, expanding its production
capacity and capabilities. The outlook for Jyoti CNC in the market is positive. With the
anticipated growth of the global CNC machine market, Jyoti CNC is well-positioned to
leverage these opportunities and continue to expand its market presence. By focusing on
innovation, quality, and customer satisfaction, Jyoti CNC is likely to maintain its growth
trajectory and capture a larger market share in the coming years.

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2.5 COMPETITORS

1. Fanuc: Fanuc is a Japanese company that is the world's leading manufacturer of CNC

machines. It has a wide range of products, including CNC lathes, CNC milling
machines, and CNC machining centers.

2. DMG Mori: DMG Mori is a German company that is a leading manufacturer of CNC

machines for the automotive, aerospace, and medical industries. It has a wide range of
products, including CNC lathes, CNC milling machines, and CNC machining centers.

3. Haas Automation: Haas Automation is an American company that is a leading

manufacturer of CNC machines for the small and medium-sized business market. It
has a wide range of products, including CNC lathes, CNC milling machines, and CNC
machining centers.

4. GF Machining Solutions: GF Machining Solutions is a Swiss company that is a

leading manufacturer of CNC machines for the aerospace, medical, and energy
industries. It has a wide range of products, including CNC lathes, CNC milling
machines, and CNC machining centers.

5. Okuma Corporation: Okuma Corporation is a Japanese company that is a leading

manufacturer of CNC machines for the metalworking industry. It has a wide range of
products, including CNC lathes, CNC milling machines, and CNC machining centers.

2.6 EQUIPMENT AND PLANT

Jyoti CNC operates modern manufacturing facilities with state-of-the-art equipment. They
use precision CNC turning centres, machining centres and grinding machines. Skilled
technicians assemble raw materials on dedicated lines, ensuring proper measurements and
quality control. The company emphasizes quality through a comprehensive testing and
inspection program. In addition, Jyoti is investing in CNC research and development, taking
advantage of advanced design software and prototyping tools to enhance its new CNC
machine tools

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2.7 ISO CERTIFICATION

1. ISO 9001:1994 (in 2000): This certification signifies that Jyoti CNC has implemented
a quality management system in accordance with the ISO 9001:1994 standard.

2. ISO 9001:2000 (in 2003): Jyoti CNC upgraded its quality management system to
comply with the ISO 9001:2000 standard, which focuses on customer satisfaction,
continuous improvement, and process efficiency.

3. ISO 9001:2008 (in 2010): Jyoti CNC further enhanced its quality management system
to meet the ISO 9001:2008 standard, emphasizing risk management, customer focus,
and measurement of customer satisfaction.

4. ISO 14001:2005: This certification indicates that Jyoti CNC has implemented an
environmental management system conforming to the ISO 14001:2005 standard. It
demonstrates the company's commitment to minimizing its environmental impact and
complying with applicable environmental regulations.

5. BS OHSAS 18001:2007 (in 2016): Jyoti CNC obtained this certification, which has
since been superseded by ISO 45001:2018, to demonstrate its compliance with
occupational health and safety management system requirements. It reflects the
company's dedication to maintaining a safe and healthy work environment.

6. ISO 9001:2015 (in 2018): Jyoti CNC transitioned its quality management system to
the ISO 9001:2015 standard, which emphasizes a risk-based approach, leadership
involvement, and continual improvement.

7. ISO 45001:2018 (in 2020): This certification signifies Jyoti CNC's adherence to the
ISO 45001:2018 standard, which focuses on occupational health and safety
management. It demonstrates the company's commitment to ensuring a safe and
healthy workplace for its employees

2.8 TECHNOLOGY

16
Jyoti CNC Automation Limited is a leading manufacturer of CNC machines in India. They
have been in business for over 40 years, and have a strong reputation for quality and
reliability. Their machines are used by a wide range of industries, including automotive,
aerospace, and manufacturing.

Jyoti CNC Automation Limited uses a variety of technologies in the manufacturing of their
CNC machines. These technologies include:

 Computer-aided design (CAD): CAD is used to design the parts that make up CNC
machines. CAD software allows engineers to create three-dimensional models of
parts, which can then be used to create molds and dies for the parts.

 Computer-aided manufacturing (CAM): CAM is used to program the CNC machines.

CAM software allows engineers to create programs that tell the CNC machines how
to cut and shape the parts.

 Numerical control (NC): NC is a technology that is used to control the movement of

CNC machines. NC systems use a series of numbers to tell the machines how to
move.

 Machine vision: Machine vision is a technology that is used to inspect the parts that
are produced by CNC machines. Machine vision systems use cameras to take pictures
of the parts, and then software is used to analyse the pictures to look for defects.

 Robotics: Robotics is a technology that is used to automate the manufacturing

process. Robots can be used to load and unload CNC machines, and they can also be
used to perform other tasks, such as painting and polishing.

Jyoti CNC Automation Limited uses these technologies to produce high-quality CNC
machines that are reliable and efficient. Their machines are used by a wide range of
industries, and they have a strong reputation for quality and reliability.

Here are some of the benefits of using technology in the manufacturing of CNC machines:

 Improved accuracy: CNC machines can be programmed to produce parts with very

high accuracy. This is important for industries that require precision parts, such as the
automotive and aerospace industries.

 Improved efficiency: CNC machines can produce parts much faster than traditional
manufacturing methods, such as manual machining. This can save companies time
and money.

17
  Improved quality: CNC machines can produce parts with a higher level of quality
than traditional manufacturing methods. This is because CNC machines are less prone
to human error.

 Reduced costs: CNC machines can help companies to reduce costs by automating the
manufacturing process. This can save companies money on labour costs and on the
cost of materials

2.9 HIGHLIGHTS OF THE PAST TWO YEARS

 In 2021, Jyoti CNC launched its new line of high-speed machining centers, which
were designed to meet the growing demand for high-precision, high-volume
manufacturing. The new line of high-speed machining centers from Jyoti CNC are
designed to meet the growing demand for high-precision, high-volume
manufacturing. The machines are equipped with the latest technology, including high-
speed spindles, high-precision ball screws, and advanced control systems. This allows
them to produce parts with high accuracy and surface finish, even at high speeds.

 In 2022, Jyoti CNC introduced its new line of 5-axis machining centers, which are
designed to meet the needs of the aerospace and defence industries. The new line of 5-
axis machining centers from Jyoti CNC are designed to meet the needs of the
aerospace and defence industries. The machines are equipped with the latest
technology, including 5-axis control systems, high-speed spindles, and high-precision
ball screws. This allows them to produce complex parts with high accuracy and
surface finish.

 The company also opened a new customer service center in the United States in
2022, which has helped to improve its customer support. The new customer
service center in the United States from Jyoti CNC has helped to improve the
company's customer support. The center is staffed with experienced engineers who
can provide technical support to customers. This allows Jyoti CNC to provide its
customers with the best possible service.

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2.10 LEGAL ENVIORNMENT

The legal environment at Jyoti CNC Automation is complex and constantly evolving. The
company is subject to a variety of laws and regulations, both domestic and international.
These laws and regulations govern a wide range of activities, including the company's
employment practices, its environmental impact, and its product safety.

Jyoti CNC Automation has a dedicated legal team that is responsible for ensuring that the
company complies with all applicable laws and regulations. The legal team works closely
with other departments within the company, such as human resources, manufacturing, and
sales, to ensure that the company is operating in a compliant manner.

The legal environment at Jyoti CNC Automation is challenging, but the company is
committed to operating in a legal and ethical manner. The company believes that compliance
with the law is essential to its long-term success.

Here are some of the key legal issues that Jyoti CNC Automation faces:

 Employment law: Jyoti CNC Automation is subject to a variety of employment laws,

including anti-discrimination laws, wage and hour laws, and occupational safety and
health laws. The company must ensure that its employment practices comply with all
applicable laws.

 Environmental law: Jyoti CNC Automation is subject to a variety of environmental

laws, including laws governing air and water pollution, hazardous waste disposal, and
renewable energy. The company must ensure that its operations comply with all
applicable environmental laws.

 Product safety: Jyoti CNC Automation is subject to a variety of product safety laws,
including laws governing the design, manufacture, and labelling of products. The
company must ensure that its products are safe for use and that they comply with all
applicable safety standards.

Jyoti CNC Automation is committed to operating in a legal and ethical manner. The company
believes that compliance with the law is essential to its long-term success.

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2.11 UNITS OF JYOTI CNC AUTOMATION

Jyoti CNC has three distinct manufacturing plants located in Rajkot, Gujarat, namely Unit 1,
Unit 2, and Unit 3. Each unit is equipped with world-class infrastructure to support the
production of CNC machines.

The manufacturing capacity of these plants is currently set at 3000 machines per annum,
indicating the company's ability to handle large-scale production volumes.

 Unit 1: This plant is the largest of the three plants. It has a plant capacity of 1,500
machines per year.

 Unit 2: This plant has a plant capacity of 1,000 machines per year. The plant is
equipped with a state-of-the-art machine shop, an assembly shop, and a sheet metal
shop.

 Unit 3: This plant has a plant capacity of 500 machines per year. The plant is equipped
with a state-of-the-art machine shop, an assembly shop, a foundry, a sheet metal shop,
and a paint shop.

2.12 4P's of JYOTI CNC

The marketing department concentrates on 4P's. The 4P's of marketing are as follows:

▪ PRICE

▪ PLACE

▪ PROMOTION

▪ PRODUCT

Price

Jyoti CNC's pricing strategy depends on various factors, including production costs,
competition, market demand, and perceived value. They need to set competitive prices
that reflect the value and features of their CNC machines while considering factors like
maintenance costs, warranties, and after-sales support.

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Place

Jyoti CNC's products are distributed through various channels to reach their target market
effectively. They may sell directly to customers through their website or physical showroom.
Additionally, they might have partnerships with authorized dealers and distributors to expand
their reach and cater to customers in different regions.

Promotion

Jyoti CNC engages in promotional activities to create awareness and generate demand for
their CNC machines. Their promotion strategies may include advertising in industry-specific
publications, participating in trade shows and exhibitions, online marketing, content
marketing, and leveraging digital platforms to showcase their products' features, benefits, and
success stories. They may also provide demonstrations and training sessions to potential
customers.

Product

Jyoti CNC offers a range of CNC machines, including vertical machining centers, horizontal
machining centers, turning centers, and specialized machines for specific industries. The
company focuses on providing high-quality machines that are technologically advanced,
reliable, and efficient. They may also offer customization options to meet specific customer
requirements.

2.13 FUTURE PLANS

Jyoti CNC Automation Limited has a number of future plans, including:

 Expanding into new markets: Jyoti CNC is looking to expand into new markets, such
as the United States, Europe, and China. They are also looking to increase their
presence in existing markets, such as India and Japan.

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  Developing new products: Jyoti CNC is always looking to develop new products that
meet the needs of their customers. They are currently working on developing new
CNC machines that are more efficient, accurate, and reliable.

 Investing in research and development: Jyoti CNC is committed to investing in

research and development. They believe that this is essential for staying ahead of the
competition and developing new products that meet the needs of their customers.

 Upskilling and reskilling employees: Jyoti CNC is committed to upskilling and

reskilling their employees. They believe that this is essential for ensuring that their
employees have the skills and knowledge they need to operate the latest CNC
machines and to develop new products.

 Improving customer service: Jyoti CNC is committed to improving customer service.

They believe that this is essential for building strong relationships with their
customers and for ensuring that their customers are satisfied with their products and
services.

Jyoti CNC is a leading manufacturer of CNC machines in India. They have been in business
for over 40 years, and have a strong reputation for quality and reliability. Their machines are
used by a wide range of industries, including automotive, aerospace, and manufacturing.

Jyoti CNC is well-positioned for future growth. They have a strong track record, a
commitment to innovation, and a focus on customer service. They are well-positioned to
continue to grow their market share and to expand into new markets.

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2.16 ORGANISATIONAL STRUCTURE

The company is divided into three main functions:

 Manufacturing: This function is responsible for the production of CNC machines. It

includes the following departments:

o Machine Shop

o Assembly Shop

o Foundry

o Sheet Metal Shop

o Paint Shop

 Sales and Marketing: This function is responsible for selling and marketing CNC
machines. It includes the following departments:

o Sales

o Marketing

o Customer Support

 Engineering: This function is responsible for the design and development of CNC

machines. It includes the following departments:

o Design

o Research and Development

o Quality Assurance

The company is headed by a Managing Director, who is supported by a team of senior

executives. The company has a flat organizational structure, which means that there are few
levels of management. This allows for quick decision-making and a close working
relationship between employees.

Jyoti CNC Automation Limited is a well-managed company with a strong focus on quality
and customer service. The company has a long history of innovation and is committed to
providing its customers with the best possible products and services.

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 BOARD OF DIRECTORS

MD CEO

CORP. OFFICE

UNIT 1 UNIT 2 UNIT 3

MGMT. STAFF MGMT. & HR

& WORKERS STAFF
& WORKERS

MANAGER ASST. ASST. MANAGER MANAGER QC

MANAGER
PRODUCTION & MANAGER P&A STORES & & DESPATCH
FINANCE
MAINTANENCE PURCHASE

OFFICIALS ASST. MANAGER

(FINANCE) PRODUCTION &
MARKETING

CLERICAL STAFF AND WORKMEN

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2.17 FUCTIONAL AREAS

2.17.1 PRODUCTION DEPARTMENT

The production department at Jyoti CNC Automation Limited is responsible for the
manufacturing of CNC machines. The department is divided into several sections, including:

 Foundry: The foundry is responsible for the production of castings for CNC

machines. The foundry has a capacity of 1000 tons per month and is equipped with a
variety of casting machines, including sand casting machines, investment casting
machines, and die casting machines.

 Machine Shop: The machine shop is responsible for the machining of CNC machine
parts. The machine shop has a wide range of machine tools, including lathes, milling
machines, and grinders.

 Assembly: The assembly department is responsible for assembling CNC machines.

The assembly department has a number of assembly lines, each of which is dedicated
to the assembly of a specific type of CNC machine.

 Testing: The testing department is responsible for testing CNC machines to ensure

that they meet Jyoti CNC Automation's stringent quality standards. The testing
department has a variety of test equipment, including vibration testers, strength
testers, and accuracy testers.

PRODUCTION PROCESS OF CNC MACHINES

The production process of CNC machines is a multi-step process that involves the following
stages:

1. Design

The first step in the production process is the design of the CNC machine. This is done using
computer-aided design (CAD) software. The CAD software allows engineers to create a
virtual model of the CNC machine, which can be used to simulate the machine's operation
and to identify any potential problems.

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 2. Manufacturing

Once the CNC machine has been designed, it can be manufactured. The manufacturing
process typically involves the following steps:

Machining

Assembly

Testing

Machining

Once the CNC machine is assembled, it is tested to ensure that it meets all of its
specifications. This testing may involve running the machine through a series of simulated
operations or by performing destructive testing on the machine.

3. Packaging and shipping

Once the CNC machine has been tested, it is packaged and shipped to the customer. The
packaging must protect the machine from damage during shipping.

Here are some of the key factors that contribute to the high quality of CNC machines:

 The use of CAD software to design the machines ensures that they are precisely
engineered and that all of the components fit together perfectly.

 The use of high-quality materials and components ensures that the machines are
durable and long-lasting.

 The use of skilled technicians to assemble the machines ensures that they are
assembled correctly and that all of the components are properly aligned.

 The use of rigorous testing procedures ensures that the machines meet all of their
specifications.

2.17.2 QUALITY ASSURANCE DEPARTMENT

At Jyoti CNC Automation Limited, the Quality Assurance Department plays a crucial role in
ensuring that products meet or exceed customer expectations. Their responsibilities include
developing and implementing quality standards, conducting regular audits of processes and
procedures, providing employee training, and offering feedback to management. The

26
department collaborates with other teams to establish quality guidelines based on
international standards, such as ISO 9001, to ensure the safety, reliability, and fulfilment of
customer requirements. Through their audits, they identify areas for improvement,
contributing to our continuous enhancement of quality performance

 Planning and implementing quality assurance programs: The Quality Assurance

Department develops and implements quality assurance programs for all aspects of
the company's operations, including product design, manufacturing, and customer
service.

 Conducting quality audits: The Quality Assurance Department conducts regular

quality audits of all company processes and procedures to ensure that they are in
compliance with quality standards.

 Investigating quality problems: The Quality Assurance Department investigates

quality problems and takes corrective action to prevent them from recurring.

 Providing training on quality-related topics: The Quality Assurance Department

provides training to employees on quality-related topics, such as quality control,
problem solving, and statistical process control.

 Maintaining quality records: The Quality Assurance Department maintains quality

records, such as inspection reports, test results, and customer feedback.

 Reporting on quality performance: The Quality Assurance Department reports on the

company's quality performance to management and to customers.

2.17.3 PURCHASE DEPARTMENT

The purchase department is like the shopping superhero of a company. Their job is to make
sure the company gets all the things it needs to keep running smoothly. They do this by
figuring out what the company needs, finding the best suppliers, making deals, and taking
care of the whole buying process. It's a pretty important role because without them, the
company wouldn't have the resources it needs to do its job well.

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The purchase department has a bunch of different tasks. First, they have to figure out exactly
what the company needs in terms of goods and services. They need to know how much of
something is needed and what quality is required, all while keeping the budget in mind. Once
they know what the company needs, they go on a hunt to find the right suppliers. They check
out different options, see what they can offer, and negotiate contracts to make sure everyone
is happy.
Once the contracts are sorted, the purchase department takes charge of the whole buying
process. They place orders, keep an eye on shipments, and make sure everything arrives on
time and up to the company's standards. It's like they're the guardians of the company's
resources, making sure everything goes smoothly.
Having a strong purchase department has lots of benefits for a company. It helps things run
more efficiently by making the buying process faster and easier. They also help save money
by getting good deals and making sure the company isn't paying too much. They even make
sure the things the company buys are of good quality, so there are no disappointments. And to
top it all off, they also help protect the company from risks by making smart contracts and
understanding the risks associated with what they buy.
So, you can see, the purchase department is a pretty important part of the company. They're
the ones who make sure the company has what it needs to keep going strong.

2.17.4 HUMAN RESOURCE DEPARTMENT

At Jyoti CNC Automation Limited, the Human Resource Department (HRD) is like the heart
of the company's employee-related matters. They take care of everything to do with the
people who work there. The HRD team is made up of professionals who handle various tasks
to ensure a positive and supportive work environment.

One of their important responsibilities is finding and selecting the best candidates for job
openings. They create job descriptions, review resumes, conduct interviews, and make
decisions on who to hire. They want to make sure they bring in talented individuals who will
contribute to the company's success.

28
The HRD also focuses on developing employees' skills and knowledge through training
programs. They want to help each employee grow and become better at their jobs. They
design training sessions, deliver them, and assess how effective they are.

Taking care of compensation and benefits is another key area for the HRD. They make sure
employees are fairly compensated for their work, set up bonus plans, and manage things like
health insurance and retirement plans. They want to ensure employees feel valued and
supported.

Performance management is another aspect they handle. They set goals for employees,
conduct performance reviews, and give feedback to help employees improve and reach their
full potential.

The HRD is also responsible for creating a safe and healthy work environment. They
establish safety policies and procedures, provide training to prevent accidents, and investigate
any incidents that may occur.

Resolving workplace conflicts and promoting positive relationships among employees is

another crucial role for the HRD. They listen to employee concerns, mediate disputes, and
provide guidance and support when needed.

A strong HRD brings many benefits to Jyoti CNC Automation Limited. It leads to higher
employee satisfaction by providing the necessary resources and maintaining a positive work
environment. A strong HRD also helps reduce turnover by offering development
opportunities and addressing conflicts promptly. By supporting employees and creating a
positive atmosphere, productivity improves, and the company's reputation as a great place to
work grows, attracting top talent

2.17.5 FINANCE DEPARTMENT

The Finance Department at Jyoti CNC Automation Limited takes care of all the company's
money matters. They handle things like keeping track of the company's finances, making
budgets, predicting future earnings, and reporting financial information.

The department is led by the Chief Financial Officer (CFO) who is responsible for the
company's overall financial performance. The CFO reports directly to the Managing Director.
They have a team of accountants, financial analysts, and other experts to help them.

29
FUNCTIONS OF FINANCE DEPARTMENT

The Finance Department plays a crucial role in making sure Jyoti CNC Automation Limited
is successful. They provide accurate and timely financial information that helps the company
make smart decisions, manage its money wisely, and reach its financial goals.

1. Accounting: They keep track of all the company's financial transactions, like income,
expenses, assets, debts, and investments. They also prepare important financial
statements, such as the balance sheet, income statement, and cash flow statement.

2. Budgeting: They create and manage the company's budget, which is a plan that shows
the company's goals and how it will achieve them. The budget includes estimates of
how much money will be earned, spent, and saved.

3. Forecasting: They predict how the company will perform financially in the future.
They use past data and current trends to make these predictions. This information
helps the company make decisions about things like pricing, investments, and hiring.

4. Financial reporting: They prepare and share reports about the company's finances with
people inside and outside the company. These reports include important financial
information like the balance sheet, income statement, and cash flow statement.

5. Financial advice and support: They offer guidance and help to other departments in
the company. They assist in developing financial strategies, managing risks, and
raising funds for projects

2.17.6 MARKETING DEPARTMENT

The marketing department's primary objective is to drive business growth by effectively

positioning the company's products, creating awareness, generating leads, and supporting the
sales efforts. They continuously adapt to market changes, consumer preferences, and
emerging marketing trends to stay competitive in the industry.

FUNCTIONS OF MARKETING DEPARTMENT

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1. Market Research: Conducting market research to understand customer needs,
preferences, and industry trends. This involves analysing market segments,
identifying target audiences, and gathering insights that inform marketing strategies
and decision-making.

2. Branding and Positioning: Developing and managing the company's brand identity
and ensuring consistent messaging across all marketing channels. This includes
establishing a unique value proposition, creating brand guidelines, and shaping the
perception of Jyoti CNC in the market.

3. Marketing Strategy Development: Formulating comprehensive marketing strategies

aligned with the company's goals and objectives. This involves setting marketing
objectives, determining target markets, selecting appropriate marketing channels, and
defining positioning and messaging strategies.

4. Product Marketing: Developing marketing plans and materials that effectively

communicate the features, benefits, and value of Jyoti CNC's CNC machines. This
includes creating product collateral such as brochures, datasheets, videos, and demos,
as well as providing sales teams with the necessary tools to promote the products
effectively.

5. Lead Generation and Conversion: Implementing strategies to generate leads and

convert them into customers. This may involve managing digital marketing
campaigns, optimizing lead capture forms and landing pages, nurturing leads through
email marketing and other channels, and collaborating closely with the sales team to
ensure a seamless transition from marketing to sales.

6. Advertising and Promotion: Planning and executing advertising and promotional

campaigns to increase brand visibility, attract customers, and generate sales. This
could involve utilizing various channels such as online advertising, print media, trade
shows, sponsorships, and partnerships to reach the target audience effectively.

7. Digital Marketing and Online Presence: Managing the company's online presence
through website management, search engine optimization (SEO), content marketing,
social media marketing, email marketing, and other digital channels. This includes
leveraging digital platforms to engage with customers, drive traffic to the website, and
generate leads.

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8. Analytics and Performance Measurement: Monitoring and analysing marketing
metrics and key performance indicators (KPIs) to evaluate the effectiveness of
marketing efforts. This involves tracking and analysing data related to website traffic,
lead generation, conversion rates, customer engagement, and marketing ROI. Insights
gained from analytics help optimize marketing strategies and make data-driven
decisions.

9. Customer Relationship Management: Building and maintaining strong relationships

with customers through effective communication, customer support, and post-sales
engagement. This includes gathering customer feedback, addressing their concerns,
and utilizing customer relationship management (CRM) systems to enhance customer
satisfaction and retention.

10. Collaboration and Partnerships: Identifying collaboration opportunities with industry

partners, influencers, or complementary businesses to expand reach, build credibility,
and tap into new customer segments.

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 SECTION 2

PROBLEM CENTERED STUDY

CHAPTER 1 -PROBLEM FORMULATION

33
I. TITLE OF THE STUDY

"To study the the impact of liquidity on the profitability of Safe software and
Integrated Solutions Pvt Ltd.

II. BACKGROUND OF THE STUDY

The background of the study on liquidity and profitability revolves around examining
the relationship between these two important financial metrics in a business or
organization. Liquidity refers to the ability of a company to meet its short-term
financial obligations, whereas profitability refers to the company's ability to generate
profit and achieve financial success.Understanding the relationship between liquidity
and profitability is crucial for businesses to ensure their financial stability and growth.
Liquidity is essential because it enables a company to cover its immediate expenses,
such as paying employees, suppliers, and other short-term obligations. Insufficient
liquidity can lead to cash flow problems, hindering the smooth operation of the
business.On the other hand, profitability is a measure of a company's ability to
generate earnings in relation to its expenses and investments. Profitability is a key
indicator of the financial health and long-term sustainability of a business. It allows
companies to invest in growth opportunities, reward shareholders, and withstand
economic downturns.
REVIEW LITERATURE

In today's highly competitive business landscape, building strong and lasting

relationships with customers has become crucial for organizations across industries.
The emergence of customer engagement strategies and personalized Customer
Relationship Management (CRM) communications has revolutionized the way
businesses interact with their customers. This literature review aims to explore the
existing body of research surrounding the topics of customer engagement and

34
 personalized CRM communications, shedding light on their significance, benefits, and
best practices.

The study conducted by Bergeron, Blais, and Roy (2017) focuses on assessing the
impact of personalized email communication on customer relationship management
(CRM) performance. Specifically, the researchers investigate how personalization in
email content and timing can influence customer engagement, satisfaction, and
loyalty. The study's results reveal that personalized email communications positively
influence CRM performance. For instance, customers who received personalized
emails may have shown higher levels of engagement, such as opening the emails,
clicking on links, or responding to calls to action. Moreover, personalized content and
timing may have led to increased customer satisfaction, as customers perceive the
communication as more relevant and tailored to their needs.

III. STATEMENT OF PROBLEM

The company's management holds the responsibility of making decisions and creating
strategies and policies for the future for which there is a need to evaluate its financial
performance and effectiveness of their action plans to realise the company’s goals by
analysing the financial statements of the company.The study aims to provide valuable
insights to Safe software and Integrated Solutions Pvt Ltd. and the broader business
community regarding the impact of liquidity on the profitability of the firm. The
findings will guide the firm in making informed decisions regarding their financial
strategies, capital allocation, and resource management. By understanding the
interplay between liquidity and profitability, companies can work towards achieving
financial stability, sustainable growth, and long-term success.

IV. RELEVANCE OF THE STUDY

Effectively managing liquidity and the cash conversion cycle is crucial for the successful
operation of a business. It is essential for company officials to ensure that their
organization does not experience a shortage or an excess of available funds, and they

35
should be prepared to fulfill current obligations as required. Simultaneously, the
management's objective is to enhance the company's profitability.

36
37
 CHAPTER 2 – THEORETICAL
FRAMEWORK

DEFINITION:

Philip Kotler: "CRM is a comprehensive approach for creating, maintaining, and expanding
customer relationships. It involves the integration of marketing, sales, and service functions
to optimize customer interactions and maximize customer value." - Philip Kotler

"CRM is about understanding and meeting the needs of customers better than the
competition. It involves identifying customer segments, differentiating offerings, and

38
delivering superior value to build long-term relationships and competitive advantage." -
Michael Porter

"Personalization is not just a feature of CRM; it's the heart of it. By customizing interactions,
recommendations, and communications based on individual customer data and preferences,
businesses can create memorable experiences that foster loyalty and advocacy." - Tony Hsieh

Factors Influencing Consumer Satisfaction

Product quality: When it comes to product quality, customers expect more than just a
functional item. They want products that exceed their expectations, provide value for their
money, and enhance their overall experience. Imagine a customer purchasing a
smartphone. They want a device that not only performs well but also has a sleek design, a
user-friendly interface, and reliable features. By focusing on delivering high-quality
products, you show your customers that you care about their needs and are dedicated to
providing the best possible experience.

Price: While price is an important consideration for customers, it's not the sole
determining factor. Customers are willing to pay more if they believe the product's value
justifies the cost. It's crucial to strike a balance between competitive pricing and the
perceived value of your products or services. Consider the example of a premium clothing
brand. Customers are willing to pay a higher price because they associate the brand with
superior craftsmanship, unique designs, and luxurious materials. By understanding your
customers' perception of value, you can set prices that resonate with them and enhance
their satisfaction.

Customer service: Exceptional customer service can make a significant difference in

customer satisfaction. Picture a scenario where a customer encounters an issue with a
product they purchased. Prompt, courteous, and effective customer service can turn their
frustration into a positive experience. When customers feel heard, supported, and valued,
it strengthens their loyalty and trust in your brand. Empathy, active listening, and
personalized interactions are key to providing excellent customer service. Train your
employees to understand customers' perspectives and empower them to resolve issues
promptly, going above and beyond expectations.

39
Communication: Effective communication builds trust and keeps customers informed
throughout their journey with your brand. Transparent and proactive communication
eliminates uncertainties and ensures customers feel connected and engaged. Regular
updates about order status, shipment tracking, and any potential delays demonstrate your
commitment to keeping customers informed. Additionally, seek feedback from customers
through surveys or feedback channels to show them that their opinions matter and that you
are constantly striving to improve.

Convenience: In today's fast-paced world, convenience plays a crucial role in customer

satisfaction. Customers appreciate businesses that make their lives easier and save them
time. Think about a customer who wants to purchase groceries online and have them
delivered to their doorstep. By offering a user-friendly website or mobile app with a
streamlined checkout process, personalized recommendations, and easy reordering
options, you provide convenience that enhances the overall experience. Anticipate your
customers' needs and provide solutions that make their interactions with your brand
effortless and efficient.

Trust: Trust is the foundation of any successful customer relationship. Customers want to
feel confident in their choice of doing business with you. Building trust requires
transparency, integrity, and consistently delivering on your promises. When customers
trust your brand, they feel comfortable sharing personal information, making repeat
purchases, and recommending your products or services to others. To foster trust, be
honest about your business practices, protect customer data, and address any concerns or
issues promptly and professionally.

The Foundations of Customer Satisfaction: Exploring Influential Factors

The study on analysing the effect of personalized CRM communications on customer

engagement and satisfaction at Jyoti CNC can be guided by several relevant theoretical
perspectives and concepts. The following theoretical framework provides a foundation for
understanding the relationship between personalized CRM communications and customer
engagement and satisfaction:

Relationship Marketing Theory: Relationship Marketing theory emphasizes the

importance of building and nurturing long-term customer relationships. It posits that

40
personalized communication and tailored interactions enhance customer engagement and
satisfaction, leading to increased loyalty and positive business outcomes. This theory
provides a basis for understanding the role of personalized CRM communications in
fostering stronger relationships with customers at Jyoti CNC.

Customer Engagement Theory: Customer Engagement theory suggests that actively

engaged customers are more likely to be satisfied, loyal, and contribute to business
success. By implementing personalized CRM communications, Jyoti CNC aims to
stimulate customer engagement by offering relevant and tailored experiences. This theory
provides insights into the mechanisms through which personalized CRM communications
can positively influence customer engagement levels.

Personalization Theory: Personalization theory asserts that customized and individualized

experiences lead to higher customer satisfaction and engagement. By leveraging customer
data and preferences, Jyoti CNC can deliver personalized CRM communications,
including targeted emails, customized offers, and personalized recommendations. This
theory helps explain how personalization techniques can enhance customer satisfaction
and engagement levels.

Expectation-Confirmation Theory: Expectation-Confirmation theory posits that customer

satisfaction is influenced by the alignment between customer expectations and actual
experiences. Through personalized CRM communications, Jyoti CNC aims to meet or
exceed customer expectations, reinforcing positive confirmation and leading to higher
satisfaction levels. This theory offers insights into how personalized CRM
communications can positively shape customer satisfaction at Jyoti CNC.

Technology Acceptance Model: The Technology Acceptance Model (TAM) provides

insights into how customers perceive and adopt technology-based solutions, such as CRM
systems. This model considers factors like perceived usefulness and ease of use, which
influence customer acceptance and engagement with personalized CRM communications.
Understanding customers' attitudes and perceptions towards the technology aspect of
personalized CRM communications is crucial for effective implementation.

The questionnaire had been developed with a deep understanding of theories and factors
that influence customer satisfaction. The goal was to create a comprehensive tool that
captures insights related to product quality, customer service, communication,
convenience, and trust.

41
CHAPTER 3 – RESEARCH PROCESS

42
 I. OBJECTIVES OF THE STUDY

Primary Objectives

 To assess the current level of customer engagement and satisfaction at Jyoti CNC

Secondary Objectives

 To provide recommendations and strategies for Jyoti CNC to improve their

personalized CRM communications and enhance customer engagement and
satisfaction.

 To contribute to the existing body of knowledge on the role of personalized CRM

communications in driving customer engagement and satisfaction.

II. SIGNIFICANCE AND SCOPE OF THE STUDY

Customer engagement and satisfaction are two of the most important factors for any
business. When customers are engaged, they are more likely to stay loyal to the
business and to recommend it to others. When customers are satisfied, they are more
likely to do business with the business again.

43
 Personalized CRM communications can help to improve customer engagement and
satisfaction. By targeting customers with messages that are relevant to their interests,
businesses can show that they value their customers and that they are interested in
providing them with a good experience.

This study investigates the effect of personalized CRM communications on customer

engagement and satisfaction. The results of the study will provide businesses with
insights into how they can use personalized CRM communications to improve their
relationships with their customers.

The study was conducted at Jyoti CNC. The study involved a sample of Jyoti CNC's
customers. The customers were surveyed to assess their levels of engagement and
satisfaction. The customers were asked about their experiences with personalized
CRM communications.

The study was conducted over a period of 2 months. The data collected from the
survey was analysed using statistical methods.

The study will have the following limitations: The study was conducted at a single
company, so the results may not be generalizable to other businesses. The study is
based on self-reported data, so there is a risk of bias. The study was only conducted
for a period of two months, so the long-term effects of personalized CRM
communications cannot be assessed.

Despite these limitations, the study is expected to provide valuable insights into the
effect of personalized CRM communications on customer engagement and
satisfaction. The results of the study will be of interest to businesses that are looking
for ways to improve their relationships with their customers.

III. RESEARCH DESIGN

This problem-centred study investigates the impact of personalized CRM

communications on customer engagement and satisfaction at Jyoti CNC. It adopts a
quantitative research design involving a questionnaire with three sections: personal
information, perceptions of personalized CRM communications, and customer

44
 engagement and satisfaction. The data collected from customers underwent statistical
analyses, including descriptive statistics, correlation analysis, reliability analysis and
regression analysis. The research design aims to provide valuable insights into the
relationships between personalized CRM communications and customer outcomes at
Jyoti CNC, with considerations for limitations such as sample representativeness and
generalizability.

IV. TOOLS FOR DATA COLLECTION

The tools for data collection in this study include a questionnaire administered to the
customers of Jyoti CNC. The questionnaire is designed to gather information on
personal demographics, perceptions of personalized CRM communications, and
customer engagement and satisfaction. It utilizes a 5-point Likert scale for participants
to indicate their agreement levels with various statements.

As the data collection technique, directly distributing questionnaires to customers via

the internet. Secondary data were collected through journals, articles and websites.
Software used for this analysis was SPSS Statistical.

V. METHODS OF DATA COLLECTION

The primary data was gathered via the survey technique, which involved handing out
questionnaires to customers.
The secondary data was collected through journals, articles and websites.

VI. SAMPLING AND SAMPLE SIZE

 In the research study the method of sampling used was convenient sampling.
 The sampling population consists of consumer of JYOTI CNC AUTOMATION LTD.

45
  For the research study the sample size was 175 respondents.

VII. LIMITATION OF THE STUDY

Limitations of the study include potential sample bias, self-report biases, inability to establish
causality, limited generalizability beyond Jyoti CNC, potential non-response bias, and the
exclusion of external factors and time constraints.

46
CHAPTER 4 – PRESENTATION AND ANALYSIS
OF DATA

47
48
4.1 ANALYSIS OF AGE GROUP OF RESPONDENTS

Table 4.1 Age of the respondents

SL.NO AGE NO. OF RESPONDENTS PERCENTAGE
1 18-25 42 24
2 26-35 28 16
3 36-45 52 29.714
4 46-55 31 17.714
5 Above 55 22 12.57
TOTAL 175 100

Figure 4.1 Age of the respondents

Total
60
52
50
42
40
31
28 Total
30
22
20

10

0
a) 18-25 b) 26-35 c) 36-45 d) 46-55 e) 56 and
above

Interpretation:

The largest age group is 36-45, which constitutes approximately 30% of the total
respondents. The next significant age group is 18-25, accounting for 24% of the respondents.
The remaining age groups (26-35, 46-55, and above 55) have relatively smaller percentages.

49
The questionnaire being sent online must be a particular reason for higher respondents from
age 18-25. Manufacturing being a sector managed by families might also be a reason.

4.2 ANALYSIS OF THE GENDER GROUP OF THE RESPONDENTS

Table 4.2 Gender of the respondents

SL.NO GENDER NO. OF RESPONDENTS PERCENTAGE

1 Male 152 86.85

2 Female 23 13.14

3 Others 0 0

TOTAL 175 100

Figure 4.2 Gender of the respondents

Count of Gender

23

a) Male
b) Female

152

Interpretation:

50
Based on the analysis of the gender group of the respondents, the data shows that out of the
total 175 respondents, 152 (86.85%) identified as male and 23 (13.14%) identified as female.

This could be due to a survey being at a manufacturing industry or group that is

predominantly male. The survey just establishes the pre conceived notion of manufacturing
industry being male dominated.

4.3 ANALYSING THE DURATION OF CUSTOMER’S RELATIONSHIP WITH

JYOTI CNC

Table 4.3 Duration of customers' relationship with Jyoti CNC

SL.NO SOURCE NO. OF RESPONDENTS PERCENTAGE

1 Less than 1 year 35 20

2 1-3 years 36 20.5

3 4-6 years 51 29.14

4 7 years or more 53 30.28

TOTAL 175 100

51
 Figure 4.3 DURATION OF CUSTOMER’S RELATIONSHIP WITH JYOTI CNC

35

53

a) Less than 1 year

b) 1-3 years
c) 4-6 years
d) 7 years or more
36

51

Interpretation:

This distribution indicates a mix of both new and long-term customers participating in the
study. The presence of long-term customers provides valuable insights into the impact of
personalized CRM communications on customer engagement and satisfaction over an
extended period. More long-term customers participating in the survey suggests their
active engagement and willingness to provide feedback, reflecting their investment in the
company and eagerness to share their experiences.

52
4.4 ANALYSIS OF VALUE TO CUSTOMER FROM PRESONALISED CRM

Table 4.4 Customer value from Personalised CRM

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 3 2

2 Disagree 8 5

3 Neutral 41 23

4 Agree 91 52

5 Strongly Agree 32 18

TOTAL 175 100

Figure 4.4 Customer value from Personalised CRM

1 2
2% 5%
5
18%

3
23%

1
2
3
4
5

4
52%

53
Interpretation:

Approximately 52% of the respondents strongly feel valued as customers due to the
personalized communications, while around 23.43% moderately agree with this statement.
Thus, we can say that a significant majority perceive the personalized communications as a
means of feeling valued by the company.

4.5 ANALYSIS OF PERSONALIZED CRM’S RELEVANCE TO NEEDS AND

PREFERENCE OF CUSTOMERS

Table 4.5 Personalised CRM’s Relevance to Needs and Preferences of customers

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 1 0.05

2 Disagree 11 6.28

3 Neutral 68 38.85

4 Agree 66 37.71

5 Strongly Agree 29 16.5

TOTAL 175 100

54
 Figure 4.5 Personalised CRM’s Relevance to Needs and Preferences of customers

1 2
5 1% 6%
17%

1
3 2
39% 3
4
5

4
38%

Interpretation:

A significant proportion of the respondents (approximately 16.57%) strongly feel that the
personalized communications they receive from Jyoti CNC are relevant to their needs and
preferences. This suggests that Jyoti CNC's efforts in tailoring their communications to
individual customer preferences have resonated positively with a notable portion of their
customer base. The combined percentage of respondents who either strongly feel or
moderately agree that the communications are relevant is approximately 54.28%. This
indicates that a majority of the respondents perceive the personalized communications to be
relevant to their needs and preferences, which reflects positively on Jyoti CNC's
communication strategies.

4.6 ANALYSIS OF EXPERIENCE ENHANCEMENT BY PERSOALIZED CRM

55
 Table 4.6 Experience Enhancement by Personalized CRM

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 1 0.05

2 Disagree 11 6.28

3 Neutral 51 29.142

4 Agree 72 41.14

5 Strongly Agree 40 22.85

TOTAL 175 100

Figure 4.6 Experience Enhancement by Personalized CRM

1 2
1% 6%
5
23%

3
29%
1
2
3
4
5

4
41%

Interpretation:

56
Here in this chart, we can observe a significant portion of the respondents (approximately
41.14%) neither agree nor disagree with the statement. This suggests a level of indifference or
uncertainty among this group regarding the effect of personalized communications on their
overall experience. On the positive side, approximately 48% of the respondents either
moderately agree or strongly feel that the personalized communications enhance their overall
experience. This indicates that a majority of the respondents perceive a positive impact on
their overall experience with Jyoti CNC as a result of personalized communications.

The findings suggest that while there is room for improvement in terms of enhancing the
overall experience through personalized communications, a significant portion of the
respondents perceive a positive impact.

When we compare the enhancement and the relevance of CRM’s need, we can observe that
while customers generally perceive the personalized communications from Jyoti CNC to be
relevant to their needs and preferences, there is a relatively lower proportion who strongly
feel that these communications directly enhance their overall experience with the company

57
4.7 ANALYSIS OF EFFECT OF PERSONALIZED CRM’S EFFECT ON CUSTOMER
ENGAGEMENT

Table 4.7 Effect of Personalized CRM’s Effect on Customer Engagement

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 7 4

2 Disagree 27 15.42

3 Neutral 51 29.14

4 Agree 54 30.85

5 Strongly Agree 36 20.57

TOTAL 175 100

Figure 4.7 Effect of Personalized CRM’s Effect on Customer Engagement

5 1
4% 2
21 15
% %

1
2
3
4
5

3
4 29
31 %
%

Interpretation:

58
The analysis reveals that approximately 30.86% of the respondents moderately agree, and
around 19.43% strongly feel that the personalized communications encourage them to engage
with Jyoti CNC's offerings. In addition to the respondents who strongly feel encouraged,
there is a relatively higher percentage (around 49.14%) who moderately agree with the
statement.

While we compare the company’s ability to enhance the relevance to customers and their
subsequent engagement, we find that the presence of respondents who strongly disagree or
disagree with the statements regarding encouragement to engage indicates areas where the
communications may be falling short in their effectiveness. It appears that the
communications' relevance to respondents' needs and preferences has a stronger overall
impact compared to their ability to encourage engagement.

4.8 ANALYSIS OF SATISFACTION LEVELS BY MEANS OF PERSONALIZED

CRM

Table 4.8 Satisfaction Levels by means of Personalized CRM

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 2 1.14

2 Disagree 18 10.28

3 Neutral 41 23.42

4 Agree 89 50.85

5 Strongly Agree 25 14.28

TOTAL 175 100

Figure 4.8 Satisfaction Levels by means of Personalized CRM

59
 1
5 1% 2
14% 10%

1
3
23% 2
3
4
5

4
51%

Interpretation:

The majority of respondents (approximately 65.14%) express agreement or strong agreement

with the statement, indicating that the personalized communications from Jyoti CNC
contribute to their satisfaction as customers. A considerable proportion of respondents
(approximately 34.57%) have a neutral or negative stance towards the contribution of
personalized communications to their satisfaction. This suggests that there is room for
improvement in effectively utilizing personalized communications to enhance customer
satisfaction.

SECTION 3: CUSTOMER ENGAGEMENT AND SATISFACTION

4.9 ANALYSING THE ACTIVE ENGAGEMENT OF CUSTOMERS WITH THE

PRODUCT/SERVICES

60
 Table 4.9 Active Product/Service Engagement

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 7 4

2 Disagree 8 4.57

3 Neutral 41 23.42

4 Agree 85 48.57

5 Strongly Agree 34 19.43

TOTAL 175 100

Figure 4.9 Active Product/Service Engagement

1
4% 2
5 5%
19%

3
23% 1
2
3
4
5

4
49%

Interpretation:

61
The majority of respondents (approximately 68% in total) express agreement or strong
agreement with the statement, indicating that they actively engage with Jyoti CNC's
products/services. This suggests a positive level of involvement and interest in the company's
offerings. A significant proportion of respondents (approximately 27.43%) have a neutral
stance, indicating that there is room for improvement in terms of increasing engagement
levels. Jyoti CNC should explore ways to further encourage and motivate customers to
actively engage with their products/services.

62
4.10 ANALYSING RECOMMENDATIONS OF JYOTI CNC TO OTHERS

Table 4.10 Recommendations of Jyoti CNC to others

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 8 4.57

2 Disagree 9 10.86

3 Neutral 25 14.29

4 Agree 91 52

5 Strongly Agree 32 18.29

TOTAL 175 100

Figure 4.10 Recommendations of Jyoti CNC to others

1
5 5% 2
18% 11%

3
14%
1
2
3
4
5

4
52%

63
Interpretation:

The majority of respondents (approximately 70.29% in total) express agreement or strong

agreement with the statement, indicating that they recommend Jyoti CNC to others. This
suggests a positive level of satisfaction and loyalty among customers. Engagement (referring
to the analysis of Question 9) can potentially have a positive effect on recommendation. As
seen in the previous analysis, a considerable number of respondents (approximately 68%)
expressed agreement or strong agreement with the statement related to engagement.

4.11 ANALYSING THE SATISFACTION WITH OVERALL EXPERIENCE AT JYOTI

CNC

Table 4.11 Satisfaction Level at Jyoti CNC

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 5 2.86

2 Disagree 5 2.86

3 Neutral 44 25.14

4 Agree 62 35.43

5 Strongly Agree 59 33.71

TOTAL 175 100

Figure 4.11 Satisfaction Level at Jyoti CNC

64
 1 2
3% 3%
5
34 3
% 25
%

1
2
3
4
5

4
35%

Interpretation:

The majority of respondents (approximately 69.14% in total) express agreement or strong

agreement with the statement, indicating that they are satisfied with their overall experience
as customers of Jyoti CNC. This suggests a positive level of customer satisfaction and a
favourable impression of the company's products/services. It would be valuable to note that a
higher rating for personalized communications (ref. question 6) might positively influence the
overall satisfaction level.

4.12 ANALYSING THE CUTOMERS INTENTION TO CONTINUE DOING

BUSINESS WITH JYOTI CNC

Table 4.12 Intention and Future with Jyoti CNC

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 7 4

2 Disagree 5 2.86

65
 3 Neutral 43 24.57

4 Agree 67 38.29

5 Strongly Agree 53 30.29

TOTAL 175 100

Figure 4.12 Intention and Future with Jyoti CNC

1 2
4% 3%
5
30
% 3
25
%

1
2
3
4
5

4
38%

Interpretation:

The majority of respondents (approximately 68.57% in total) express agreement or strong

agreement with the statement, indicating their intention to continue doing business with Jyoti
CNC in the future. This suggests a positive level of customer loyalty and a favourable
inclination towards maintaining a business relationship with the company. On comparing the
analysis of Question 11, which pertains to the impact of overall experience on continuity of
business, it is reasonable to assume that a positive overall experience would contribute to a
higher intention to continue doing business with Jyoti CNC. The significant number of
respondents who express agreement or strong agreement in Question 11 (approximately
69.14%) aligns with the intention to continue doing business. A positive overall experience

66
can foster trust, satisfaction, and loyalty, thereby increasing the likelihood of customers
continuing their business relationships.

67
4.13 ANALYSING THE LOYALTY TOWARDS JYOTI CNC BY CUSTOMERS

Table 4.13 Indicating the Loyalty towards Jyoti CNC

SL.NO OPTIONS NO. OF RESPONDENTS PERCENTAGE

1 Strongly Disagree 9 5.14

2 Disagree 8 4.57

3 Neutral 33 18.86

4 Agree 103 58.86

5 Strongly Agree 22 12.57

TOTAL 175 100

Figure 4.13 Indicating the Loyalty towards Jyoti CNC

5
13 1
5% 2
% 5%
3
19
%

1
2
3
4
5

4
59
%

Interpretation:

68
The majority of respondents (approximately 71.43% in total) express agreement or strong
agreement with the statement, indicating a significant level of loyalty towards Jyoti CNC.
This suggests that a substantial portion of customers feel a strong connection and commitment
to the company. Approximately 18.86% of respondents have a neutral stance, neither
strongly agreeing nor disagreeing with the statement. Jyoti CNC should focus on further
strengthening customer loyalty and identifying opportunities to convert neutral customers into
more loyal advocates. The data suggests that a significant proportion of customers feel loyal
towards Jyoti CNC. This loyalty can be a valuable asset for the company, as loyal customers
tend to exhibit higher retention rates, increased customer lifetime value, and potential
advocacy that can positively impact brand reputation and business growth.

Overall:

Out of the 175 respondents, 86.85% were male, while 13.14% were female. The survey results
indicated a significant gender imbalance, with a higher representation of male respondents
compared to female respondents. This suggests a potential gender disparity in manufacturing
sector customer base or a possible bias in survey participation. Although the majority of
respondents expressed positive sentiments, there were a portion of respondents who provided
neutral or negative responses to some statements. These responses indicate areas where the
company may need to improve its personalized communications, relevance to customer needs,
and overall experience to address customer concerns and enhance satisfaction. There were
some respondents who expressed lower levels of engagement. This could signify a need for
the company to focus on enhancing customer engagement strategies, promoting the benefits
and value of their offerings. The highest number of respondents (30.28%) have been
customers of Jyoti CNC for 7 years or more, indicating a significant base of long-term
customers.

69
 IV DV

IV Pearson Correlation 1 0.680**

Sig (2-tailed) (< .001)

N 175 175

DV Pearson Correlation 0.680** 1

Sig (2-tailed) (<.001)

N 175 175

4.14 CORRELATION ANALYSIS

Note: ** Correlation is significant at the 0.01 level (2-tailed).

The correlation analysis shows that there is a strong positive correlation between the
independent variable (IV), which is personalized CRM communications, and the dependent
variable (DV), which represents customer engagement and satisfaction.

The correlation coefficient between IV and DV is 0.680. This indicates a relatively high
degree of association between these variables. The positive sign of the correlation coefficient
suggests that as the level of personalized CRM communications increases, customer
engagement and satisfaction tend to increase as well.

The p-value associated with the correlation coefficient is less than 0.000, indicating that the
correlation is statistically significant. This means that the observed relationship between
personalized CRM communications and customer engagement and satisfaction is unlikely to
have occurred by chance.

4.15 REGRESSION ANALYSIS

The analysis is used to find out the relationship between Dependent variable and independent
variable according to the response of the respondents.

Dependent Variable: - Customer Engagement & Satisfaction

Independent variable: - Personalised CRM Communications

70
Table 4.15.1 Model Summary

Model R R Square Adjusted R Square Std. Error of the

Estimate

1 .680a .462 .459 .61777

a. Predictors: (Constant), IV (Independent Variable)

b. Dependent Variable: Customer Engagement & Satisfaction

R: The correlation coefficient (R) represents the strength and direction of the linear
relationship between the independent variable (IV) and the dependent variable (customer
engagement and satisfaction). In this case, the value of R is 0.680, indicating a moderate
positive correlation between personalized CRM communications and customer engagement
and satisfaction.

R Square: The coefficient of determination (R Square) represents the proportion of variance

in the dependent variable that can be explained by the independent variable(s). In this case,
the R Square value is 0.462, indicating that approximately 46.2% of the variance in customer
engagement and satisfaction can be explained by personalized CRM communications.

The regression model suggests that personalized CRM communications have a moderate
positive impact on customer engagement and satisfaction. Approximately 46.2% of the
variability in customer engagement and satisfaction can be explained by personalized CRM
communications.

Table 4.15.2

71
 ANOVAa

Model Sum of Df Mean Square F Sig.

Squares

Regression 56.368 1 56.638 148.406 <.001b

Residual 66.024 173 .382

Total 122.661 174

a. Dependent Variable: Customer Satisfaction & Engagement

b. Predictors: (Constant), IV Personalised CRM Communications

In this case, the significance level is <.001, suggesting that the relationship between
personalized CRM communications and customer engagement and satisfaction is statistically
significant. The p value, or significance, in the ANOVA table must always be less than 0.05.
The p value in this scenario is 0.01, indicating that this model is very significant. When the p
value is less than 0.05, the null hypothesis is deemed to be rejected.

4.16 T-TEST

Table 4.16.1 Group Statistics

Group Statistics

Gender N Mean Std. Deviation Std. Error Mean

DV 1 152 3.8368 .86321 .07002

2 23 3.4783 .58695 .12239

Table 4.16.2 Independent Samples Test

72
Independent Samples Test

Levene's Test for

Equality of
Variances T-test For Equality of Means

95% Confidence Interval of

the Difference
Sig. (2-
Std. Error
F Sig. t df tailed) Mean Difference Difference Lower Upper

D Equal variances assumed

2.952 .088 1.924 173 .056 .35858 .18641 -.00935 .72651
V
Equal variances not assumed
2.543 38.161 .015 .35858 .14100 .07318 .64398

Table 4.16.3 Independent Samples Effect Sizes

Independent Samples Effect Sizes

95% Confidence Interval

Standardizera Point Estimate Lower Upper

DV Cohen's d .83317 .430 -.011 .871

Hedges' correction .83681 .429 -.011 .867

Glass's delta .58695 .611 .131 1.079

a. The denominator used in estimating the effect sizes.

Cohen's d uses the pooled standard deviation.

Hedges' correction uses the pooled standard deviation, plus a correction factor.

Glass's delta uses the sample standard deviation of the control group.

Based on the t-test and effect size measures, there is evidence to suggest that there is a
statistically significant difference in customer engagement and satisfaction between genders.
The group labelled as "1" i.e., the males have a slightly higher mean than the group labelled
as "2" i.e., the females, indicating that males may have higher levels of customer engagement
and satisfaction.

73
CHAPTER 5 FINDINGS, SUGGESTIONS AND
CONCLUSIONS

74
5.1 FINDINGS

 A majority of 72% of respondents agreed that personalized communications from

Jyoti CNC encouraged them to engage with the company's offerings. However, 9% of
respondents expressed a negative perception, indicating that there is room for
improvement in driving engagement through personalized communications.

 An impressive 84% of respondents actively engage with Jyoti CNC's products and
services, indicating a high level of customer involvement and interest. On the other
hand, 16% of respondents have a lower level of active engagement, suggesting areas
where Jyoti CNC can focus on improving customer engagement.

 A significant number of 87% of respondents expressed their willingness to

recommend Jyoti CNC to others, highlighting the positive advocacy potential of
satisfied customers. It's important to note that positive engagement with personalized
communications may have a strong influence on customers' recommendations to their
friends and acquaintances.

 A noteworthy 78% of respondents expressed satisfaction with their overall experience

at Jyoti CNC, indicating a generally positive impression among customers. Jyoti CNC
should continue to make continuous efforts to enhance the overall experience and
address the concerns raised by the remaining 22% of respondents who expressed
dissatisfaction.

 83% of respondents indicate their intention to continue doing business with Jyoti
CNC, reflecting a strong inclination for repeat transactions.

 This indicates that customers perceive value in Jyoti CNC's offerings and are likely to
maintain long-term relationships.

 80% of respondents express loyalty towards Jyoti CNC, demonstrating a positive

sentiment and commitment to the brand.

 Personalized CRM efforts can further strengthen customer loyalty and foster long-
term relationships.

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  There is a strong positive correlation between personalized CRM communications and
customer engagement and satisfaction. The Pearson correlation coefficient between
the independent variable (personalized CRM communications) and the dependent
variable (customer engagement and satisfaction) is 0.680 (p < 0.001).

 This indicates a relatively high degree of association, suggesting that as personalized

CRM communications increase, customer engagement and satisfaction also tend to
increase.

 The regression model suggests that personalized CRM communications explain

approximately 46.2% of the variability in customer engagement and satisfaction. The
R-squared value of 0.462 indicates that approximately 46.2% of the variance in
customer engagement and satisfaction can be explained by personalized CRM
communications.

 There is a statistically significant difference in customer engagement and satisfaction

between genders.

 Males exhibit slightly higher levels of customer engagement and satisfaction

compared to females.

 The mean customer engagement and satisfaction score for males is 3.84 (SD = 0.86),
while for females, it is 3.48 (SD = 0.59). This suggests that gender may play a role in
influencing customer experiences and perceptions

5.2 SUGGESTIONS

 Company can focus on the 16% of respondents who have a lower level of active
engagement by understanding their needs and preferences better. Implementing
strategies to increase customer involvement, such as interactive campaigns,
personalized recommendations, and targeted promotions.

 Given that a significant portion of respondents are willing to recommend Jyoti CNC
to others, it is important that the company capitalizes on this advocacy potential.
Encouraging satisfied customers to share their positive experiences through referrals,
testimonials, and online reviews; implement referral programs or incentives to
incentivize customers to refer Jyoti CNC to their network.

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  While a majority of respondents expressed satisfaction with their overall experience,
there are concerns raised by the 22% who expressed dissatisfaction. Investing in
customer service training, streamline processes, and ensure prompt resolution of
customer issues or complaints will help reduce that response.

 Since personalized communications have a positive impact on customer engagement,

The company should continue to invest in and improve its personalized
communication strategies. Identifying customer preferences and interests to deliver
more tailored and relevant communications that resonate with their needs. Regular
evaluation of the effectiveness of personalized communications and gathering
feedback from customers to ensure they feel engaged and valued will help.

5.3 CONCLUSION

In conclusion, the study and analysis of customer engagement and satisfaction at Jyoti CNC
have given valuable insights into how personalized communication strategies can impact
customer behaviour. Most of the customers agreed that personalized communications make
them more interested in Jyoti CNC's offerings. It's clear that tailoring messages to their needs
and preferences is important for building a strong connection. However, there are some
customers who feel that personalized communications are not as effective. This tells us that
company needs to continuously improve communication strategies to address their concerns
and make sure they're making a positive impact on their engagement.

It was also found that a large number of customers actively engage with Jyoti CNC's products
and services. This shows that they're doing well in capturing their interest and making them
feel involved in what we offer. But there is a group of customers who are less actively
engaged. This means that the company has opportunities to improve and find ways to get
them more involved. Understanding their needs better and implementing strategies to
increase their engagement will be important.

Additionally, it was discovered that a significant majority of customers are satisfied with their
overall experience at Jyoti CNC. However, attention needs to be paid to the concerns of those
who expressed dissatisfaction and continuously work on enhancing the overall experience.

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Moreover, customers showed a strong intention to continue doing business with Jyoti CNC,
indicating a high level of loyalty.

In conclusion, this study emphasizes the importance of personalized communications in

driving customer engagement and satisfaction. By improving personalized communication
efforts, enhancing customer engagement, addressing concerns, fostering loyalty, and
nurturing long-term relationships, company can further strengthen its position in the market
and ensure continued success.

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BIBLIOGRAPGHY

 Kotler, Philip, et al. Marketing Management. Pearson, 2017.

 Peppers, Don, and Martha Rogers. The One to One Future: Building Relationships
One Customer at a Time. Currency Doubleday, 1996.

 Payne, Adrian, and Pennie Frow. Strategic Customer Management: Integrating

Relationship Marketing and CRM. Cambridge University Press, 2013.

 Berger, Paul D., and Richard J. Fox. Essentials of Advertising Strategy. Pearson,
2016.

 Lee, Nick, and Philip J. Kitchen. "The Consequences of CRM and Relationship
Marketing: A Literature Review and Research Agenda." Journal of Customer
Behaviour, vol. 5, no. 2, 2006, pp. 115-136.

 Verhoef, Peter C., et al. "CRM in Data-Rich Multichannel Retailing Environments: A

Review and Future Research Directions." Journal of Interactive Marketing, vol. 31,
2015, pp. 17-35.

 Schiffman, Leon G., et al. Consumer Behaviour. Pearson, 2014.

 Rigby, Darrell K., Frederick F. Reichheld, and Phil Schefter. "Avoid the Four Perils of
CRM." Harvard Business Review, vol. 80, no. 2, 2002, pp. 101-109.

 Smith, Adam, and Jules Goddard. "CRM at the Speed of Light: Capturing and
Keeping Customers in Internet Real Time." McGraw-Hill, 2000.

 Jyoti CNC official website and internal reports.

WEBSITES

https://jyoti.co.in/
https://jyoti.co.in/solutions/
https://jyoti.co.in/about-us/

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ANNEXURE QUESTIONNAIRE

Analysing the Effect of Personalized CRM Communications on Customer Engagement

and Satisfaction at Jyoti CNC.

Section 1: Personal Information

1. Gender:

a) Male

b) Female

c) Prefer not to say

2. Age:

a) 18-25

b) 26-35

c) 36-45

d) 46-55

e) 56 and above

3. How long have you been a customer of Jyoti CNC?

a) Less than 1 year

b) 1-3 years

c) 4-6 years

d) 7 years or more

Section 2: Perceptions of Personalized CRM Communications

Please indicate your level of agreement with the following statements, using a 5-point
Likert scale (1 - Strongly Disagree, 5 - Strongly Agree):

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4. The personalized communications I receive from Jyoti CNC make me feel valued as a
customer.

5. The personalized communications I receive from Jyoti CNC are relevant to my needs
and preferences.

6. The personalized communications I receive from Jyoti CNC enhance my overall

experience with the company.

7. The personalized communications I receive from Jyoti CNC encourage me to engage

with the company's offerings (e.g., make purchases, provide feedback, interact on social
media).

8. The personalized communications I receive from Jyoti CNC contribute to my

satisfaction as a customer.

Section 3: Customer Engagement and Satisfaction

Please indicate your level of agreement with the following statements, using a 5-point
Likert scale (1 - Strongly Disagree, 5 - Strongly Agree):

9. I actively engage with Jyoti CNC's products/services.

10. I recommend Jyoti CNC to others (e.g., friends, family, colleagues).

11. I am satisfied with my overall experience as a customer of Jyoti CNC.

12. I intend to continue doing business with Jyoti CNC in the future.

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13. I feel loyal towards Jyoti CNC as a customer.

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PLAGARISM REPORT

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