SUMMER TRAINNING REPORT (311)

ON

“MARKETING STRATEGY ADOPTED BY

MULTITECH INSTRUMENT CO. (P) LTD.”
FOR THE PARTIAL FULFILLMENT

OF

BACHELOR OF BUSINESS ADMINISTRATION 2015-2018

SUBMITTED BY:

UDDESHYA KUMAR OJHA

Enrollment No. 06890101715

UNDER THE SUPERVISION

OF

Dr. SUMAN YADAV

(Assistant professor)

FAIRFIELD INSTITUTE OF MANAGEMENT AND TECHNOLOGY

KAPASHERA, NEW DELHI

AFFILIATED TO:

(GURU GOBIND SINGH INDRAPASTHA UNIVERSITY DWARKA NEW DELHI)

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 TABLE OF CONTENTS

S.NO. TITLE PAGE NO.

1 Internship Certifiicate (i)

2 Student Declaration (ii)

3 Certificate from Guide (iii)

4 Acknowledgement (iv)

5 Executive Summary (iv)

Chapter - 1: INTRODUCTION

1.1 Introduction and nature of job Design 09-13

1.2 Industry overview 13-18

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1.3 Company profile 19-20

1.4 . Product offered 23-24

Chapter - 2: LITERATURE REVIEW

2.1 Literature Review 25-26

7 2.2 Introduction of marketing strategy 26-27

2.3Three Tools to Improve Medical Product Sales 27-30

Chapter - 3: RESEARCH METHODOLOGY

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3.1 Universe 31

2
 3.2 Sample size and sampling technique 32

3.3 Data collection 33

3.4 Tools of presentation 33

Chapter - 4: ANALYSIS& INTERPRETATION

9 4.1General Findings 34

4.2 finding based on questionnaire 34-45

Chapter - 5: FINDINGS & SUGGESTIONS

10 5.1 Findings 46

5.2 Suggestions 47

11 Chapter - 6: CONCLUSION 48

12 BIBLIOGRAPHY 49

13 Questionnaire 50-51

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4
 STUDENT DECLARATION

I hereby declare that Summer Training Report “Marketing Strategic Adopted by medical
Instruments making organisations ” submitted by me to “Fairfield Institute Of Management
And Technology, Kapashera” is a bonafide work undertaken during the 5TH B Semester by me
and has not been submitted to any other University or Institution for the award of any degree
diploma / certificate or published any time before.

Date:
Name: UDDESHYA KUMAR OJHA
Enroll. No.:06890101715

Course: BBA (Vth -B)

(Signature of the Student)

5
 CERTIFICATE FROM GUIDE

This is to certify that as per best of my belief the project entitled “Marketing Strategic
Adopted by medical Instruments making organnisations” is the bonafide research work
carried out by “ UDDESHYA KUMAR OJHA” student of BBA, FIMT (Fairfield Institute Of
Management And Technology), Kapashera, New Delhi, in partial fulfillment of the
requirements for the Summer Training Report of the Degree of Bachelor of Business
Administration. He has worked under my guidance.

(Signature of Guide)

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 ACKNOWLEDGEMENT

I offer my sincere thanks and humble regards to Fairfield Institute Of Management And
Technology, GGSIP University, New Delhi for imparting us very valuable professional
training in BBA.

I pay my gratitude and sincere regards to Dr. Suman Yadav, my project Guide for giving me the
cream of his knowledge. I am thankful to her as she has been a constant source of advice,
motivation and inspiration. I am also thankful to her for giving his suggestions and
encouragement throughout the project work.

I take the opportunity to express my gratitude and thanks to our computer Lab staff and library
staff for providing me opportunity to utilize their resources for the completion of the project.

I am also thankful to my family and friends for constantly motivating me to complete the project
and providing me an environment, which enhanced my knowledge.

Date: / / 2017
Name: UDDESHYA KUMAR OJHA
Enroll. No.: 06890101715

Course: BBA (Vth-B)

(Signature of the Student)

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 EXECUTIVE SUMMARY

I have completed this project titled “Marketing Strategic Adopted by medical Instruments
Making Organnisations” after an in-depth analysis of medical industry. In this project I have
studied whole process of Marketing Strategies adopted by Multitech company.

Multitech is one of the National company having more than. In DELHI Multitech having
5 plants. In this project report I have discussed about the company, its services, vision-mission
statements, how Multitech Co ltd. works, financial inclusion of company. I did a primary data
collection through Questionnaires covering the sample of 10 Respondents.

I concluded that Multitech Co pvt ltd. need to focus on Advertisement and other means of
Marketing. Company do utilize internet sites for the Advertisement process. Promotion of the
Multitech should be done carefully. Company do utilize internet sites for the recruitment process.
Selection of candidate should be done carefully.

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1.1 INTRODUCTION AND NATURE OF JOB ASSIGNED

This summer training is about the marketing of a manufacturer and sales agency. In this work the
factors affecting consumer satisfaction as well as their purchasing behavior is tried to be
explored and evaluated. This project work is descriptive in nature and descriptive in terms of
content. After a careful selection of sample and with the help of a proper research methodology
the required data has been collected and then presented in an attractive and informative manner.
In the present work the manufacturing agency is highlighted and the concept of consumer
satisfaction is also presented.

Multi Tech Instrument Company introduce itself as India's one of the most promising,
enthusiastic, innovative and result-oriented manufacturing agency. Multi Tech Instrument Co.
Pvt. Ltd., established in the year 1995 with a very limited infrastructure has marked its position
in the industry with its dedicated and expert team. Today, with 52 crore turnover we grow further
and set sights on far bigger and greater horizons. Multi Tech Instrument Company offers the
scientific instruments like-

 Microbiology Instruments
 Clean Room Solutions
 Chemical Laboratory Instruments
 Sophisticated Instruments (HPLC / FTIR / UV etc.)
 Calibration & Validation of Laboratory Instruments

The company has inducted professionals to come together and collectively offer you elaborate
services in the field of: Instruments like Antibiotic Zone Reader, Abbe Refractometer, Analytical
Balances, Bulk Density Apparatus, Bomb Calorimeter, Centrifuge, Digital pH Meter etc.

Multitech Instrument Company had started its journey from very small business of distribution
of scientific instruments in local area. But slowly and gradually it has built its position in the
market at a so high stage that it remains the only favorable instrument manufacturing company in
New Delhi and more over preferred by many peoples. Multitech Instrument Co. Pvt. Ltd serves

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its customers with different products which usually other instrument manufacturing company to
not provide it gives the quality which the customers wants in printing there any important
documents.
Over the years we have gather to build up the expert team of 40 highly qualified professionals in
their respective field, who have built a reputation for rendering prompt, efficient and cost
effective service. Their Professional competence and commitment has accolade Libra with many
awards and reorganization.

The present work was started to know about the promotional technique used by manufacturing
agencies to make the company visible in market. It also explains different technique used by the
manufacturing agency for their promotion. This project work has started after deciding a set of
objective and then a well drafted research methodology was followed to carry out the research
work and at last the findings were presented and some suggestion were also given to the
company.

1.1.1 NATURE OF JOB ASSIGNED

The nature of the Job assigned was very challenging and Flexible. The flexible nature of the job
has provided me the platform to learn. I was in to marketing department of the company and my
basic profile was related to sales and recording the consumer regarding the product and services
provided Mutitech Instruments Co Pvt Ltd. The job profile was also observatory in nature and it
consist an important element of reporting too. Careful selection of data, its collection was a
regular part and like all the summer training was mainly for revenue generation from the
companies point of view.

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1.1.2 DETAILED JOB PROFILE

As a part of management training we were told to perform some on the job activities and
research to gain maximum and enriching experience from this training.

 Data collection: Under this profile we collect the all information of different scientific
instrument manufacturers and dealers dealing in the desired segment.
 Recording Consumer Responses: Under this task I have recorded the customer
responses by making questionnaire form. However, I recorded thousands of responses to
make a substantial about authenticity of the products.
 Visiting Dealers/Marketers: Under this profile my task was, we visit the dealers &
marketers for promoting our agency and bringing the clients.
 File & Record: Under this profile my task was note down the responses of the customer
are recorded in the computer & make a separate file of watch industry.
 Daily Reporting : Under this heading /profile my work was, whatever responses we get
from the customer, we reported daily and give the Proper information of the customers to
my supervision

1.1.3 AREA ASSIGNED

As a trainee in Multitech Instrument Co. Pvt. Ltd. I was in the Marketing Department. My
work station was in D-9&10 3rd Floor, Lakshmi Deep, District Centre, Lakshmi Nagar, New
Delhi-110092, Multitech Instrument Co. Pvt. Ltd, the geographical location of my organization
was at New Delhi.

1.1..4 TARGET ASSIGNED

The target assigned to me was to bring the clients who are interested in buying company’s
products.

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`1.1.5 WEEK TO WEEK JOB EXPERIENCE

 Reporting time: 10:00 AM

 Getting training for 10 days of getting knowledge of the company profile, product &
services, customers, etc.
 Manage the clients and their responses.

WEEK 1

This was our first week in the organization as a management trainee and was named the
‘orientation week’. In this week we were given an overview about the company and we were
introduced to its rules and regulation and we were also told about the job performed and duties of
different sections of the marketing department.

The experience of acquiring information about the various sections and the work done in these
sections of such a large and reputed company was a great experience.

WEEK 2 & 3

These weeks also played important roles in our summer training period as during these weeks we
were assigned the jobs to be done by us under the supervision of our supervisor in which we
were given the task of (analyzing and collecting data.). We were given the job to be done
independently and were held responsibilities.

WEEK 4

This week was even more enriching as we were told to conduct a research amongst clients of
Multitech in context with our summer training report. This was done with the help of a sample
questionnaire having variety of questions pertaining to different areas related to the company’s

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product and services. This was a great experience as the knowledge gained by talking to different
people with different mindsets.

In the last weeks of summer training we were provided with the information and help to
complete our summer training report along with the knowledge of how the work is conducted in
the marketing department.

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1.2 INDUSTRY OVERVIEW

1.2.1 Scientific Instruments Manufacturing Trend

Historically, they were made by instrument makers living near a center of learning or research,
such as a University or research laboratory. They designed, constructed and refined instruments
for specific purposes, but if demand was sufficient, an instrument would go into production as a
commercial product. An example in UK was W.G. Pye & Co. Ltd. which was founded in 1896 in
Cambridge by William George Pye, an employee of the Cavendish Laboratory, as a part-time
business making scientific instruments. By the outbreak of World War I in 1914 the company
employed 40 people manufacturing instruments that were used for teaching and research.

Scientific instruments are part of laboratory equipment, but are considered more sophisticated
and more specialized than other measuring instruments as scales, rulers, chronometers,
thermometers or even waveform generators.

Some scientific instruments can be quite large in size, like particle colliders or radio-telescope
antennas and antenna arrays that are miles or kilometers wide. The converse or nanoscale also
has been applied, with much of the activity centered on Nano medicine, particularly as non-
invasive medical imaging has exploded on the diagnostic arts and minimally invasive surgery
and surgical robotics have come into use. Instruments on the scale of a single molecule may soon
interact with our bodies at the cellular and biochemical level to collect diagnostic information
and provide accurate drug delivery mechanisms.

Instruments are increasingly based upon the integration with computers to improve and simplify
control, enhance and extend instrumental functions, conditions, parameter adjustments and data
sampling, collection, resolution, analysis (both during and post-process) and storage and
retrieval.

Individual instruments can be connected as a local area network (LAN) and can be further
integrated as part of a laboratory information management system (LIMS). This can give Internet
access to databases of physical properties, for example a peptide spectral library allowing results
comparisons and advanced data analysis. Developers have used open source principles to rapidly

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improve low-cost open-source hardware for scientific measurements and to create open source
labs. With the advent of low-cost 3-D printing scientists can manufacture many of their own
components. The 3-D printers themselves can even be modified to function as research tools
(e.g. fluid handling).

Scientific instruments can be found on board sounding rockets, satellites or planetary rovers and
controlled by radio telemetry.

For lists of astronomical instruments, see List of telescope types and List of astronomical
interferometers at visible and infrared wavelengths.

 Accelerometer, physical, acceleration

 Ammeter, electrical, Amperage, current
 Anemometer, wind speed.
 Caliper, distance
 Calorimeter, heat
 DNA sequences, molecular biology
 Dynamometer, torque
 Electrometer, electric charge, potential difference
 Electroscope, electric charge
 Electrostatic analyzer, Kinetic energy of charged particles
 Ellipsometer, optical refractive indices
 Gravimeter, gravity
 Hydrometer
 Inclinometer, slope
 Interferometer, optics, infrared light spectra
 Magnetograph, magnetic field
 Magnetometer, magnetic flux
 Manometer, air pressure
 Mass spectrometer, compound identification/characterization
 Micrometer, distance
 Microscope, optical magnification

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  NMR spectrometer, chemical compound identification, medical diagnostic imaging
 Ohmmeter, electrical resistance/impedance
 Oscilloscope, electric signal voltage, amplitude, wavelength, frequency, waveform
shape/pattern
 Seismometer, acceleration
 Spectrogram, sound frequency, wavelength, amplitude
 Spectrometer, light frequency, wavelength, amplitude
 Telescope, light magnification (astronomy)
 Thermometer, temperature measurement
 Time-of-flight mass spectrometer, see mass spectrometer
 Thermocouple, temperature
 Voltmeter, voltage
 Eudiometer, gas volume

1.2.2 Market Analysis of Scientific Instruments

Market research analyst predicts the global scientific instrument market to grow at a CAGR of
4% during the forecast period. The growth of the research and development sector is driving the
growth of the market. The global R&D expenditure during 2014 was around USD 1.6 trillion.
China is expected to emerge as the global leader in R&D by the end of 2019 and plans to invest
around 3% of its GDP on research. The effective deployment of scientific instruments such as
motor vehicle gauges, multi-meters, and other inspection, measuring, and testing equipment
enables the development of products with increased conformance to required specifications. The
increase in collaborations between vendors and research laboratories is anticipated to contribute
to the market growth during the forecast period. Governments in China, India, Brazil, Korea, and
Taiwan are partnering with scientific instrument vendors to provide the best instruments in
university laboratories, government laboratories, and various other research institutions. This
trend is expected to have a significant impact on the growth of the market during the forecast
period.

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Segmentation by application and analysis of the scientific instrument market
 Analytical instruments
 Clinical analyzers

The clinical analyzers segment accounted for around 82% of the market share during 2014. The
report predicts this segment to maintain its dominance until the end of 2019, growing at a rate of
4%. The increased use of clinical analyzers in numerous applications in the biochemical and
immunodiagnostic sectors is driving the growth of this market. Segmentation by end user and
analysis of the scientific instrument market
 Academics
 Industrial users
 Government institutes

Industrial users accounted for 78% of the market share during 2014 and is expected to maintain
its market leadership until the end of the forecast period. Industrial users include all the
industries that use scientific instruments to manufacture and develop products such as food,
medicine, pharmaceuticals, automation, aviation and chemicals. Geographical segmentation and
analysis of the scientific instrument market

 APAC
 EMEA

The Americas accounted for the largest market share of around 40% during 2014. The report
predicts the region to retain its market leadership until the end of 2019. The large investments
being made in research and testing especially in the US is driving the market growth of this
region.
Competitive landscape and key vendors
The global scientific instrument market is highly fragmented due to the presence of several
prominent vendors. The inability to differentiate one vendor's products from another makes the

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market easy to enter and highly competitive. Vendors compete on the basis of their distribution
network and the ease of availability of their products at every medical and laboratory
organization.
The key vendors in the market are –

 Agilent
 Bruker
 Danaher
 Horiba
 Thermo Fisher

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1.3 COMPANY PROFILE

1.3.1 Introduction

Manufacturing is the production of merchandise for use or sale using labour and machines, tools,
chemical and biological processing, or formulation. The term may refer to a range of human
activity, from handicraft to high tech, but is most commonly applied to industrial production, in
which raw materials are transformed into finished goods on a large scale. Such finished goods
may be sold to other manufacturers for the production of other, more complex products, such as
aircraft, household appliances, furniture, sports equipment or automobiles, or sold to
wholesalers, who in turn sell them to retailers, who then sell them to end users and consumers.

Manufacturing engineering or manufacturing process are the steps through which raw materials
are transformed into a final product. The manufacturing process begins with the product design,
and materials specification from which the product is made. These materials are then modified
through manufacturing processes to become the required part.

Modern manufacturing includes all intermediate processes required in the production and
integration of a product's components. Some industries, such as semiconductor and steel
manufacturers use the term fabrication instead.

Scientific Instrument: Some scientific instruments can be quite large in size, like particle
colliders or radio-telescope antennas and antenna arrays that are miles or kilometers wide. The
converse or nanoscale also has been applied, with much of the activity centered on Nano
medicine, particularly as non-invasive medical imaging has exploded on the diagnostic arts and
minimally invasive surgery and surgical robotics have come into use. Instruments on the scale of
a single molecule may soon interact with our bodies at the cellular and biochemical level to
collect diagnostic information and provide accurate drug delivery mechanisms.

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Multitech Instrument Co Private Limited is a Private incorporated on 02 August 1995. It is
classified as Non-govt Company and is registered at Registrar of Companies, Delhi. Its
authorized share capital is Rs. 500,000 and its paid up capital is Rs. 453,000. It is involved in

other business activity. Multitech Instrument Co Private Limited's Annual General Meeting
(AGM) was last held on 03 August 2016 and as per records from Ministry of Corporate Affairs
(MCA), its balance sheet was last filed on 31 March 2016. Directors of Multitech Instrument Co
Private Limited are Rajesh Kapoor and Yogesh Kapoor.

Company’s Information:

(CIN) U74899DL1995PTC071356

Registration Number: 71356.

Email: multitechics1990@gmail.com
Registered Address: 313, Laxmi Deep, 9 District Center Laxmi Nagar, Delhi - 110092

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1.3.2 MISSION VISION AND OBJECTIVES OF THE COMPANY
Mission

 To be a global Player recognized for quality.

 To be the best company to work with as chosen by clients.
 To be amongst the top organizations known for their commitment and effectiveness.

Vision

To manufacture products comparable to international standards, to be customer-focused and

globally competitive through better quality, latest technology and continuous innovation.

Objective

Multitech Instruments Co Pvt Ltd is to cater the market needs of customer by providing them
high quality of Scientific Instruments like Antibiotic Zone Reader, Abbe Refractometer,
Analytical Balances, Bulk Density Apparatus, Bomb Calorimeter, Centrifuge, Digital pH Meter
etc. to cater to the changing market requirements. Based on the customer feedback,
improvements are being made continuously in the existing products.

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1.3.3 ORGANIZATIONAL STRUCTURE

CHAIRMAN

VICE CHAIRMAN

Director

Secretary

Manager

Assistant Manager

MANAGEMENT TEAM

Mr. Rajesh Kapoor CEO

Mr. Yogesh Kapoor Vice chairman
Ms. Neha Chawla Secretary
Mr. Raj Kumar Managing Director
Mr. Kamal Sharma Executive Director
Mr. Harish Chand Manager
Mr. Nihaal Dwivedi Assistant manager

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1.4 . PRODUCT OFFERED
These are the services offered by Multitech instruments Co Pvt Ltd.

B.O.D. Incubator & Laminar airflow

BOD incubators often called low temperature incubators are one of most important lab
equipment in many research centers, hospitals and other pharmaceutical labs. Bacteriological
Incubators by Patel Scientific are known as exceptional lab incubators specially designed for a
variety of incubation and testing applications. The series of BOD incubator is perfect for BOD
testing and other related jobs of research. Designed to meet customized requirements of different
customers, Patel Scientific as an experienced BOD incubator, Bacteriological Incubators,
Biochemical Oxygen Demand Incubator manufacturer in India, produces standard as well as
customized BOD incubator models. These Biochemical Oxygen Demand Incubator come in
various sizes and capacities such from 36 liters to 1000

Laminar airflow is defined as air moving at the same speed and in the same direction, with no or
minimal cross-over of air streams (or “lamina”). By contrast, turbulent flow creates swirls and
eddies that deposit particles on surfaces randomly and unpredictably.

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Bacteriological Incubator & Hot Air Oven

Hot air ovens are electrical devices which use dry heat to sterilize. They were originally
developed by Pasteur. Generally, they can be operated from 50 to 300 °C, using a thermostat to
control the temperature. Their double walled insulation keeps the heat in and conserves energy,
the inner layer being a poor conductor and outer layer being metallic. There is also an air filled
space in between to aid insulation. An air circulating fan helps in uniform distribution of the
heat. These are fitted with the adjustable wire mesh plated trays or aluminium trays and may
have an on/off rocker switch, as well as indicators and controls for temperature and holding time.
The capacities of these ovens vary. Power supply needs vary from country to country, depending
on the voltage and frequency (hertz) used. Temperature sensitive tapes or biological indicators
using bacterial spores can be used as controls, to test for the efficacy of the device during use.

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2.1. Literature Review

“Marketing is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society
at large”. American Marketing Association (AMA)

“Marketing is the act of developing an engaging relationship with every single human
being that shows an interest in you”. Paul Flanigan

“Marketing defines the business opportunity, identifies profitable customers and

products/services that will meet customer needs, builds customer relationships, drives customer
demand and communicates corporate or product/services value.” Ann Z. Marshman – Executive
Director.

“Marketing is the art and science of creating demand to drive profitable growth Marketing is
helping your customers understand how much they need something they never knew they
needed. Doreen Moran”. David W. MischleR

“A marketing strategy is a process or model to allow a company or organization to focus limited

resources on the best opportunities to increase sales and thereby achieve a sustainable
competitive advantage.” Steve Dickstein – Chief Executive Officer,

“Marketing is branding, naming, pricing, and the bridge between paid and earned media.
It is NOT sales”. Arment Dietrich, .

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2.2. About the Topic

2.2.1. Introduction of marketing strategy

A marketing strategy is a business' overall game plan for reaching people and turning them into
customers of the product or service that the business provides. The marketing strategy of a
company contains the company’s value proposition, key marketing messages, information on the
target customer, and other high level elements. The marketing strategy informs the marketing
plan, which is a document that lays out the types and timing of marketing activities. A
company’s marketing strategy should have a longer lifespan than any individual marketing plan
as the strategy is where the value proposition and the key elements of a company’s brand reside.
These things ideally do not shift very much over time.

Marketing strategy is the comprehensive plan formulated particularly for achieving the
marketing objectives of the organization. It provides a blueprint for attaining these marketing
objectives. It is the building block of a marketing plan. It is designed after detailed marketing
research. A marketing strategy helps an organization to concentrate it’s scarce resouces on the
best possible opportunities so as to increase the sales.

Marketing comes in a wide variety of flavors based on audience, media platform and business in
today’s evolving and dynamic marketplace. Marketing is traditionally the means by which an
organization communicates to, connects with, and engages its target audience to convey the
value of and ultimately sell its products and services. However, since the emergence of digital
media, in particular social media and technology innovations, it has increasingly become more
about companies building deeper, more meaningful and lasting relationships with the people that
they want to buy their products and services. The ever-increasingly fragmented world of media
complicates marketers’ ability connect and, at the same, time presents incredible opportunity to
forge new territory. Julie Barile – Vice President of eCommerce, Fairway Market

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Marketing includes research, targeting, communications (advertising and direct mail) and often
public relations. Marketing is to sales as plowing is to planting for a farmer—it prepares an
audience to receive a direct sales pitch. Mary Ellen Bianco – Director Marketing &
Communications, Getzler Henrich & Associates LLC. Marketing is an ongoing communications
exchange with customers in a way that educates, informs and builds a relationship over time. The
over time part is important because only over time can trust be created. With trust, a community
builds organically around products and services and those customers become as excited about the
products as you are — they become advocates, loyal evangelists, repeat customers and often,
friends. Marketing is a really great way to identify what grabs people and gets them excited
about your brand and give it to them, involve them in the process, and yeah, the best part, build
great friendships in the process. Renee Blodgett – Chief Executive Officer/Founder, Magic
Sauce Media

Professor Philip Kotler explained that marketing was “meeting the needs of your customer at a
profit.” For me that definition extends beyond just communicating product features. Marketers
are responsible for a 360-degree experience. For example, in the social media world, a
customer’s Twitter needs may differ from her needs to “play with the brand” in terms of a social
game promotion. Marketing is how you tell your story to attract customers, partners, investors,
employees and anyone else your company interacts with. It’s the script that helps users decide if
they’ll welcome you into their lives as a staple, nice-to-have or necessary annoyance. It’s the
way that everyone interacts with your brand.

2.3Three Tools to Improve Medical Product Sales

A host of economic and regulatory challenges are driving medical product companies to
implement new selling models and strategies such as value-based selling (VBS), team selling,
key account management, multichannel marketing, and pricing optimization. But they’re not
always finding success.

“We talk a lot about selling to the C-suite, but rarely go there.”

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“Monitoring contract compliance is extraordinarily challenging.”

“Our sales force is trained on value-based selling, but it focuses on relationship selling.”

“We have account-level potential data, but the sales force thinks it’s unreliable.”

“We invested in CRM and iPads, but where’s the ROI?

Companies often blame sales management and training departments if sales or profit growth with
these new models is less than expected. However, in our experience, another more fundamental
source for failure or limited success is a lack of support for upgraded commercial operations.
Better Pricing and Better Service Starts with Better Information.One of the most important
drivers for upgraded commercial operations in the medical products industry is the trend toward
more centralized purchasing.

Medical product companies need better information and communication to understand their
customers and support incremental sales roles and strategies. In the past, it may have been
sufficient for sales reps to build and maintain strong relationships with surgeons, who had
significant influence on hospital purchasing decisions. Today, surgeons are less likely to be
influential. Purchasing, value analysis committees, contracts for integrated delivery networks
(IDNs), and CFOs can directly and indirectly influence decisions to buy medical products. More
sales roles and sales strategies, as well more complex information and systems, are often
required to succeed in this environment.

The successful implementation of a VBS program requires a holistic approach to managing and
supporting the sales force. Pioneering medical products companies recognize that successful
execution of these strategies requires real-time, enhanced customer insights, which, in turn,
require strong operational capabilities and support.

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1.CRM Systems:

Medical products companies have made heavy investments to develop CRM systems that help
their sales forces manage customer relationships effectively and uniformly. Well-designed CRM
systems help companies collect more information about key customers and marketplace trends
on a timely basis, as well as inform sales reps on customer needs and opportunities. Best-in-class
systems also help update sales reps regarding other critical commercial activities, such as
marketing strategies and tactics, customer service interactions, and contract negotiations.

2.Mobile Platforms

Mobile technology, including tablets and smartphones, allows medical products companies to
develop platforms and apps faster than ever. It also enables those platforms and apps to make a
sizeable business impact. Mobility computing offers reps the opportunity to demonstrate
products through video or initiate a video conference with peers or clinical specialists for expert
commentary. This collaborative and customized environment during sales calls improves the
quality of a rep’s interactions with physicians and other key decision makers.

Apps that deliver fast interactions, easy accessibility and easy-to-reach data serve as a seamless
integration of the sales rep’s natural routine and result in increased productivity, convenience,
efficiency and responsiveness. Mobile solutions can also improve the effectiveness of closed-
loop marketing solutions by allowing reps to provide immediate feedback on physician responses
to marketing materials.

3.Master Data Management

MDM is the combination of systems and processes that link, manage and process key
commercial data. MDM helps integrate disparate data sources to fuel successful sales and
marketing initiatives. It can be as simple as a robust process to manage a consistent customer ID
number across business functions or as sophisticated as integrating sales activity, marketing

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investment, customer service conversations, market potential and company sales results at the
customer level.

A holistic, 360-degree view of customers based on data that is complete, accurate and timely
provides better visibility into accounts, their organization, priorities and behaviors. This, in turn,
provides accurate measures of market potential, delivers strong customer coordination across
different commercial channels, and supports better pricing and contract management for existing
customers.

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3.1 UNIVERSE

The Research work is based on both primary and secondary data, primary data was collected
with the help of questionnaire. Secondary data has also been utilized in order to fabricate the
present research work. Different studies, surveys, reports and other research work have also been
referred to find out the customer satisfaction towards Multitech Instruments Co Pvt Ltd. With
respect to the present work all the consumers who bought product from Multitech Instruments
Co Pvt Ltd. were the part of the universe and their respective sum represents the universe.

Research Design – The present research work is based upon the concepts of Exploratory
Research as the prime aim is to explore the customer perception of the people who buy
instruments from Multitech Instruments Co Pvt Ltd.

3.2 SAMPLE SIZE AND SAMPLING TECHNIQUE

Sampling – Researcher collect needed information from various persons who are associated with
this subject. When such associated persons are in new number research can get information from
all of them in such some people among associated persons are selected and collect information
from them. This selected person represents the whole universe and are called sample . Sampling
Units – Respondents (Delhi X-ray clinic, jeewan Jyoti path lab, Dr Lal Path Labs, suvidha
diagnostic center, life care path lab, Arora diagnostics centre , New life ultrasound diagnostic
center ,SRL diagnostics, Aanandpura trust path lab)of DELHI who bought products from
Multitech Instruments Co Pvt Ltd.0020

Sample Size – The sample size of 10 respondents was taken for the current study.

Sampling Technique – The sampling technique used for the study was convenience sampling,
wherein the population elements are selected for inclusion in the sample based on the
convenience of researchers

31
3.3 DATA COLLECTION

For the present project work both primary and secondary data were extensively used. These data
were collected from primary and secondary sourced respectively

 Primary data
 Secondary data

Primary data for the present research work has been collected through

A. Questionnaires.

The secondary data required for the project has been collected from company website,
Newspaper, Magazines, Journals, published work of other researchers and little part has also
been referred from books.

3.4 TOOLS OF PRESENTATION

For the current study, different presentation tools were used for presentation of the relevant
information. The following tools were used for analysis:

 Bar Chart
 Pie Chart
 Table Diagram

32
4.1 GENERAL FINDINGS

These findings were based upon the overall theoretical study of the reports which has been
published in different research project, newspaper and company manuals.

1987 1997 2007 2017

33
4.2 FINDINGS BASED ON QUESTIONNAIRE

Q1. Did you buy any scientific instruments?

□ Yes

□ No

TABLE - 1

Response No. of Respondent Percentage

Yes 10 100%

No 0 0%

Total 10 100%

CHART -1

Ownership

Interpretation: Charts-1 describes that 100% respondent had buy at least any one scientific
instrument.

34
Q2. Main consideration while buying product at Multitech Instruments Co Pvt Ltd?

□ Price □ Brand

□ Authenticity □ Promotion activity

TABLE – 2

Reason for purchase No. of respondents Percentage

Price 1 10%

Brand 2 20%

Quality 4 40%

Promotion activity 3 30%

Total 10 100%

CHART-2

10%
30% Price
20%
Brand
Quality
Promotion activity
40

Interpretation: Chart-2 describe that when their main considerations behind the buying
product of Multitech, Price (10%), Brand (20%), Authenticity (40%), Promotion activity
(30%) according to this survey.

35
Q3. Are you satisfied with product authenticity that Mutitech Instruments serves ?

□ Yes □ No

CHART3

Interpretation: Chart-3 describe that 70% respondent are satisfied and 30% respondent are not
satisfied.

36
Q4. Compared to other scientific instruments manufacturer, would you say about the
product of Multitech Instruments Co Pvt Ltd?

□ Much better □ Much worse

□ Some what better □ Don’t know

TABLE – 4

Scaling No. of respondents Percentage

Much better 4 40%

Much worse 3 30%

Somewhat better 2 20%

Don’t know 1 10%

Total 10 100%

CHART – 4

10%

40% Much better

20%
Much worse
Somewhat better
Don't know
30%

Interpretation: Chart 4 describe that 40% respondent says Mutitech Instruments Co Pvt Ltd is

much better as compared to other companies , 30% says much worse, 20% respondent says that Mutitech
Instruments Co Pvt Ltd is somewhat better and 10% respondent says that don’t know while compared
the Mutitech Instruments Co Pvt Ltd with other companies.

37
Q5.Based on your experience with scientific products, how likely are you to again get
product from Mutitech Instruments Co Pvt Ltd?

□ Very Unlikely □ Unlikely

□ Extremely Likely □ Very Likely

TABLE – 5
Scaling Very Unlikely Unlikely Extremely Very Likely Total
Likely

Frequency 3 1 3 3 10

Percentage 30 10 30 30 100

CHART – 5

30% 30%
Very Unlikely
Unlikely
Extremely Likely
10% Very Likely

30%

Interpretation: chart 5 describe that 30% respondent are very likely satisfied with Mutitech
Instruments Co Pvt Ltd, 10% respondents are very unlikely with the company, 30% respondents
are extremely like the products of the company and rest 40% respondents are unlikely satisfied
by the company.

38
Q6. How likely is you to recommend Mutitech Instruments Co Pvt Ltd to others?
□ definitely will recommend □ probably will not recommend

□ probably will recommend □ definitely will not recommend

TABLE – 6

Scaling definitely will probably will probably will definitely will Total
recommend not recommend not
recommend recommend

Frequency 6 2 1 1 10

Percentage 60 20 10 10 100

CHART – 6

10%

10%
definitely will recommend
probably will not recommend
20% probably will recommend
60%
definitely will not recommend

Interpretation: chart-6 describe that 60% respondent definitely will recommend Mutitech
Instruments Co Pvt Ltd to other, another 20% respondent probably will not recommend as they
himself are not convinced enough regarding printings of Mutitech Instruments Co Pvt Ltd, 10%
probably will recommend, 10% definitely will not recommend Mutitech Instruments Co Pvt Ltd
to others.

39
Q7.How did you find Mutitech Instruments Co Pvt Ltd on the performance scale?

□ Outstanding □ Satisfactory
□ Somewhat Satisfactory □ Not Sure

TABLE – 7
Scaling Outstanding Satisfactory Somewhat Not Sure Total
Satisfactory

Frequency 5 2 2 1 10

Percentage 50 20 20 10 100

CHART – 7

10%

Outstanding
20%
50% Satisfactory
Somewhat satisfactory
Not sure
20%

Interpretation: Chart-7 describe that 50% respondent says that the performance of Mutitech
Instruments Co Pvt Ltd are outstanding, 20% says satisfactory, 20% says somewhat satisfactory,
10% says not sure about the Mutitech Instruments Co Pvt Ltd on performance scale.

40
Q8. Are you satisfied with the product quality that Mutitech Instruments Co Pvt Ltd
serves?

□ Satisfied □ Very Satisfied

□ Dissatisfied □ Very Dissatisfied
□ Neutral
TABLE – 8

Scaling Satisfied Very Dissatisfied Very Neutral total

Satisfied Dissatisfied

Frequency 3 2 1 2 2 10

Percentage 30% 20% 10% 20% 20% 100

CHART - 8

35%
30%
25%
20%
Series 1
15%
10% Column1
5% Column2
0%
Satisfied Very Satisfied Dissatisfied Very Neutral
Dissatisfied

Interpretation: In this graph 30% respondent are satisfied with the Mutitech Instruments Co Pvt
Ltd, another 20% respondent very satisfied, 10% respondent dissatisfied, 20% respondent are
very dissatisfied and 20% respondent are neutral in this survey.

41
Q9. Do you find new technology of instrument adopted by Mutitech Instruments Co Pvt
Ltd are sufficient ?

□ Yes □ No

□ Can’t Say

TABLE – 9

Scaling Yes No Can’t Say Total

Frequency 5 2 3 10

Percentage 50 20% 30% 100

CHART – 9

60%

50%

40%
Yes
30%
No
20%
Can't Say
10%

0%
Yes No Can't Say

Interpretation: In this graph 50% respondent say yes, 20% say No, and 30% say Can’t Say
about the new methods of printing adopted by Multitech Instruments Co Pvt Ltd.

42
Q10. What changes do you suggest for the multitech istrumennt company to make it more
popular ?
(a)Advertising (b) warrenty (c) pricing (d) technology

TABLE – 10

Scaling advertising warrenty pricing Technology Total

Frequency 1 2 3 4 10

Percentage 10 20% 30% 40 100

CHART – 10

10%

40% advertisinng
20%
warrety
pricinng
technology
30%

Interpretation: In this graph 10% respondent say advertising , 20% say warrenty, 30% say
pricing and 40% says about the new technology for instrument production adopted by Mutitech
Instruments Co Pvt Ltd.

43
Ques 11-) Which media tool is the most influential for the customer.

a)TV Commercial b)Newspaper

c)Radio d)Word of Mouth

Table -11
No. of Respondents Percentage
TV Commercial 3 30%

Newspaper 4 40%
Radio 2 20%

Word of Mouth 1 10%

Totals 10 100

CHART -11

Result

10

30

20 TV Commercial
Newspaper
Radio
Word of Mouth

40

Interpretation: From the above graph shows mostly customer’s used TV Commercial for influential
for the customer.

44
Q12Out of three tools to improve medical product sales which one would you prefer to use
?

a)CRM Systems: b)Mobile Platforms c)Master Data Management

TABLE – 12

Scaling CRM system Mobile MDM Total

platform

Frequency 5 2 3 10

Percentage 50 20% 30% 100

CHART – 12

30%

50% CRM mobile MDM

20%

Interpretation: In this graph 50% respondent say CRM, 20% MOBILE SYSTEM, and 30% say
MDM about the new methods of printing adopted by Multitech Instruments Co Pvt Ltd.

45
5.1 FINDINGS

Following are the important Findings faced during the research work; these Findings always
pose a challenge to the research.

 Employees are busy in their work so they did not interacted much.

 It was difficult to converse with owner of the company and managing staff as they are
busy in their meetings and other urgent work.

 Lack of time for taking their reviews about the company.

 Money virtually fall short of what ideal field work would cost and may requires shortcuts
for the validity of findings.

 Absence of research tool application may also be regarded as an important limitation

 There are a lot of new companies entering in the insurance making it more competitive.

 According to most of the customers the advertising and marketing strategies of the
company is good to attract the customer.

 Majority of respondents says that Marketing Strategy of Multitech Co. is good.

46
5.2 SUGGESTIONS

On the basis of the work which I have undertaken in the geographical area of Lakshmi Nagar
with respect to Multitech Instruments Co Pvt Ltd, I have found some striking facts and on the
basis of the facts which I have found , I would like to recommend following points ( though the
applicability of these points is restricted to Lakshmi Nagar only)

 The best target market for Multitech Instruments Co Pvt Ltd is the company who deals
with scientific instruments like Pharmacy Agency.

 Before the launch of a new instrument the company should also maintain techniques as
they are also in demand.

 Continuous innovation in product qualities and new technologies of instruments will also
attract the company who want to buy products Multitech Instruments Co Pvt Ltd as well
as their clients.

 Easy installation at lower rates and door to door delivery will increase its clients.

 Mobile Platforms & Master Data Management Methods used for Promotion of ultiteck
Co Pvt Ltd.should be done carefully and systematically.

New techniques such as direct marketing and institutional sales should be explained more and
more in a new way.
 Company should increase its coverage.
 Company should increase its clients by giving orders in time.

47
6.1 CONCLUSIONS

On the basis of the study conducted I have concluded following things.

 The most effective reason behind the increasing scientific instrument because of necessities
of pharmacy in the society.

 Most of the Respondents (70%) are satisfied from products of Mutitech Instruments Co Pvt
Ltd and rest are not satisfied.

 The Price is one of the great motivating factors who influence the people to buy the products
of Multitech because of moderate price of the products.

 Most of the respondents (50%) rank the performance of Multitech Instruments Co Pvt Ltd to
be the satisfactory one.

48
 BIBLIOGRAPHY
Books
 Meenakshi N. & Kumar A., (2013) “Consumer attributes and characteristics”, Marketing
Management, Chapter – 6, Page No – 103

 Chisnall, P.M. (1997) Marketing Research, Fifth Edition, London: McGraw-Hill

 Baker, Michael The Strategic Marketing Plan Audit 2008 ISBN 1-902433-99-8.

 Kothari C.R., “Research Methodology”, 2nd edition,2003, Vikas Publishing House Pvt.

Ltd, New Delhi.

 Malhotra N., (2009) “Research Methods: Process”, Research Methodology, Chapter – 4,

Page No – 63

Magazine:
 Business India
 Business Today
 Business world
 Advertisement Marketing
 Express Investment week

Newspapers

 The Times of India

 The Hindustan Times
 The Hindu

WEBSITES :-

 http://www.multitech.co.pvt.com/
 www.thehindu.com/features/magazine/theMultitecht.../article3290735.ece
 http://www.medical/istrument.co.in/service.html
 http://www.slideshare.net/vivekthota/Multitech-Medical-15721860

49
 QUESTIONNAIRE
Name:

Address:

Mobile no.:

Age:

Gender: (a) Male (b) Female

Q1. Did you buy any scientific instruments?

□ Yes □ No

Q2. Main consideration while buying product at Multitech Instruments Co Pvt Ltd?

□ Price □ Brand

□ Authenticity □ Promotion activity

Q3. Are you satisfied with product authenticity that Mutitech Instruments serves ?

□ Yes □ No

Q4. Compared to other scientific instruments manufacturer, would you say about the
product of Multitech Instruments Co Pvt Ltd?

□ Much better □ Much worse

□ Some what better □ Don’t know

Q5.Based on your experience with scientific products, how likely are you to again get
product from Mutitech Instruments Co Pvt Ltd?

□ Very Unlikely □ Unlikely

□ Extremely Likely □ Very Likely

50
Q6. How likely is you to recommend Mutitech Instruments Co Pvt Ltd to others?
□ definitely will recommend □ probably will not recommend

□ probably will recommend □ definitely will not recommend

Q7.How did you find Mutitech Instruments Co Pvt Ltd on the performance scale?

□ Outstanding □ Satisfactory
□ Somewhat Satisfactory □ Not Sure

Q8. Are you satisfied with the product quality that Mutitech Instruments Co Pvt Ltd
serves?

□ Satisfied □ Very Satisfied

□ Dissatisfied □ Very Dissatisfied
□ Neutral
Q9. Do you find new technology of instrument adopted by Mutitech Instruments Co Pvt
Ltd are sufficient ?

□ Yes □ No

□ Can’t Say

Q10. What changes do you suggest for the multitech istrumennt company to make it more
popular ?
(a)Advertising (b) warrenty (c) pricing (d) technology
Ques 11-) Which media tool is the most influential for the customer.

a)TV Commercial b)Newspaper

c)Radio d)Word of Mouth

Q12Out of three tools to improve medical product sales which one would you prefer to use
?

a)CRM Systems: b)Mobile Platforms c)Master Data Management

51