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Summer Internship Program Interim Report

NAME: RISHIKANT ENROLLMENT NO.: 07BS3437 ICFAI BUSINESS SCHOOL HYDERABAD

Understanding The Need Of Audio And Video Integration In Different Segments Of The Market
Name of the company: Godrej & Boyce Mfg. Pvt. Ltd., Prima Division, Hyderabad

[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market]

An Interim Report ON

Understanding The Need Of Audio And Video Integration In Different Segments Of The Market

By Rishikant (07BS3437) A Report submitted in partial fulfillment of the requirements of MBA program of ICFAI Business School, Hyderabad

Submitted To MR. DINESH WADHVA Dy. Business Manager, Conferencing Products MR. NASINA JIGEESH Faculty Guide

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...................................... 11 Step 4: Exploratory Research ...................................................................... 7 Step 2: Developing an approach to the problem ................................... 21 References:. 8 Hypothesis............... 5 Step 1: Problem Definition..................................................................[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Table of Contents Executive Summary ...................................................................................................... 5 Diagram: The process of Problem definition ................................................................................................................................................................................................................................................................................ 15 Questionnaires: ...................................................................................................................... 8 Step 3: Research Design Formulation .................................................................................................................................. 14 Step 5: Descriptive Research............................................................................................................................................................................................... 13 Findings: .......................................................................................................................................................................... 15 Problems faced during primary data collection:........................................................................................................................................................................................................... 5 Management Decision Problem: ............................................................................................................................. 5 Marketing Decision Problem: ................................................................... 9 Diagram: The Flow of the work to be done for the project .............................................................. 3 Abstract of the Work Done So Far ................................... 13 Questionnaire For The Companies In The Same Business ............................................. 20 Step 6: Visiting various websites ............................................ 23 2|Page .................................................................................................................................................................................................................. 22 Annexure 1: The list of the competitor companies: ................................................................................................................

Companies are not restricted by boundaries of countries in today’s world. The need for faster communication and decision making is gaining immense importance. deep-seated forces are shifting outlooks. Prima Division and it came up with a bouquet of international conferencing solutions with professional consultancy and design by highly trained employees for boardrooms. Dynamic. conference rooms. seminars and presentations play one of the most important roles in achieving organizational goals. auditoriums and training halls. As a market leader it’s time for Godrej to see this threat and continuously innovate in order to maintain its leadership and capture more market share. with the passage of time more and more players tend to pour in to make the most of the existing opportunity. conferences.. As a result of this. The top level management of all the organizations designs the future strategies and takes many important decisions in boardrooms. Organizations use the technologically advanced meeting environments like conference halls in many ways to impress their clients and Display Company’s reputation. Similarly in this case also the story changed slowly with time. The market is growing at an electrifying pace and the competition is also growing in perfect correlation with it. Welcome to the modern business environment. shaping expectations and driving opportunities across the consumer landscape. As seen in any other promising ventures. Technology is the main driving factor behind the emergence of such a closely knit business world. Being one of the first professional companies in this business they soon achieved 70% of the market – pie. in every corner of the globe. Ltd.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Executive Summary The world has become a global village. The demand for such meeting halls in large organizations was recognized by Godrej & Boyce Mfg. Therefore it is making the market more congested. The Technology also enables them to address their employees and train them in a better manner. meetings. Many small players have cropped up in cities like Hyderabad and they have started providing almost the same array of products. 3|Page . In the given scenario all the market leader has to do is continuous innovation.

It is always wise to keep a track of what the competitor proposes to do in future as it alarms the market leader to be geared for the future. It is also aims to study the level of satisfaction among the existing customers of the company and gather their feedback to see what more the clients expect in terms of products. It is intended to reach at a certain number of factors that are the main deciding factors that are taken under consideration while purchasing integration products. And last but not the least in order to make the summer internship program more fruitful in terms of academic learning. a complete analysis of the functioning of the integration business will be done along with the organizational structure and other minor details. The project focuses at understanding the existing forces that determine the purchasing of such a solution. The project also aims at segmenting the market and understanding the individual needs of each market segment. So. This kind of exercise will not only help the company in focusing its marketing activity to the right kind of business enterprises but will also help in designing right mix of products to cater to the needs of its customers in the best way possible. 4|Page . consultancy.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] This is the problem that was identified by Godrej and therefore forms the outline of my project. return on investment and innovation. this study will help in gaining an insight into the innovations that are being done by other companies in the same kind of business.

problem definition was the most important task undertaken as it was going to determine the future course of action. The abstract of the work that I have done so far is explained below. How to capture new market segments and what are the needs and expectations of these segments? c. 2008. The project guide Mr. What are the factors that determine the purchasing of integration products? c. Step 1: Problem Definition After joining the company on 22nd Feb. Management Decision Problem: a. What are the different segments of the market and what are their needs? b. He not only explained the in and out of the business but also the problems that the sales team had been facing so far. Dinesh Wadhva was a big help to me in determining this step. What is the typical buying behavior of the companies with respect to integration products? 5|Page . The right understanding of the problem was as important as the entire project itself.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Abstract of the Work Done So Far The main aim of the summer internship program is not only to learn how things are made to happen in the tough business world but also to see how the theories learnt so far are applicable in practicality. What can be done towards customer satisfaction and customer loyalty? Marketing Decision Problem: a. How to maintain the leadership in the market that is becoming congested by small players? b. Besides that I also visited various internet sites to gain an insight about the problem that the company might be facing. After having a detailed conversation for several days following problems were identified.

What do the existing customers feel about the overall product? j. Is there a need for analyzing the existing communication strategy of the company? The problem definition stage helped me clearly understand the expectation of the company from the project and the direction in which one needs to move to achieve those expectations. What is being done across the world to be more innovative? f. 6|Page . What are the innovations going around in the market and how the competitor companies are working to get an edge over Godrej & Boyce. In a market where almost all the companies are offering same products what more can be done to maintain the status of market leader? h.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] d. How satisfied are the existing customers? Are we able to cater to their needs in the right way? i. Prima? e. What are the main reasons due to which the companies defer their purchasing decision for integration products? g.

Dinesh Wadhva Discussion with Mr. Amitabh (Asst.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Diagram: The process of Problem definition Task involved Discussion with Mr. Business Manager) Reading literature on the internet and visiting competitor’s websites Understanding the context of the problem Step 1: Problem Definition Management Decision Problems Marketing Decision Problems 7|Page .

2.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Step 2: Developing an approach to the problem Once the problems faced by the company were identified the next step included the development of the approach to the problem. defining the research problems and presenting them in a form which may be helpful in the process of market research. H1: The variables that determine the purchase of the audio and video integration products can’t be distinctly segregated in different sets of non overlapping factors. H2: The market can’t be segmented in distinct groups based on the type of business and needs with respect to the integration products.e. H02: The market can be segmented in distinct groups based on the type of business and needs with respect to the integration products. In this step proper hypothesis was set up which is nothing but an unproven statement or proposition about a factor of phenomenon that is of interest to the researcher. 8|Page . i. H01: The variables that determine the purchase of the audio and video integration products can be distinctly segregated in different sets of non overlapping factors. Hypothesis On the basis of the analysis so far the following hypothesis were set up: 1.

Then the next step would be to analyze the outcome of the research.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Step 3: Research Design Formulation Market research involves lot of effort and time. 2. From the understanding of the project I decided to go for an exploratory research first to get a better idea of the market. which will be visited for the responses. An online survey for the same questionnaire will also be conducted side-by-side. And any special features thus noticed will be documented. 6. This strategy will not only save paper and make the project environment friendly but also save us from the extra effort of entering the data on the laptop after collecting it. 4. Then the descriptive research part will follow in which the questionnaire will be designed directly on the laptop. 7. 5. In this research different competitors across India will be contacted over the phone and will be asked few questions from a pre-designed questionnaire. In this step following decisions were taken: 1. proper schedule will be designed for the project which will have provision for all the activities that are required to be undertaken. 9|Page . Based on the outcome. And then a database of the companies. 8. both in word as well as in excel format so that responses can be directly stored in softcopies. Throughout the project internet will be used a lot to read about the different companies in the same business both in India and abroad. 3. This will also help us to understand what are the different innovations that are going on to attract more customers. The online survey questionnaire will be mailed to the different companies. so it is always best to be very clear as to what has to be done and how it has to be done and this was decided in the third step of the project. Then the actual primary data collection step will take place in which companies from the data base will be visited and then the responses will be collected from people responsible for such kind of decision making. The first step towards the research will begin with an exploratory research. This step will give us some idea about our competitors and how they are seeing the market. will be collected. And then go for the main descriptive research.

A sample size of 80 will be taken under consideration.  14th March –27th April: Primary Data Collection.  27th April – 30th April: Primary Data Analysis.  24th May – Final report submission. The outcomes from the third market research will also be analyzed and documented.  3rd March – 6th March: Questionnaire Designing. 12.  7th March – 10th March: Secondary Data Collection. Then the third market research will be undertaken. 11.  11th March – 13th March: Secondary Data Analysis.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] 9. So.  31st April – 7th May: Customer Satisfaction survey  7th May – 10th May: Customer Satisfaction survey analysis. This analysis will be documented. 10 | P a g e . Then the collected data will be analyzed using SPSS and tools like Factor analysis(to club together different variables affecting purchasing of the integration products in distinct factors) and cluster analysis(to segment the respondents into distinct groups based on their needs from the audio/ video integration products and the kind of business they are involved in).  11th May – 15th May: Review of the project. Once the survey is done.  1st March – 3rd March: Research Designing. 14. Prima’s integration products. The Timeline decided for the project:  26th Feb – 29th Feb: Identification of the problem and defining it properly.  16th May – 22th May: Final Report preparation. In this part one more questionnaire will be designed to analyze the satisfaction level of the existing customers of Godrej & Boyce. 10. 80 companies with a turnover of more than 20 crores will be visited. 13. The entire project will be reviewed once and then the final report will be prepared. 15. The reason behind this is that since the integration products are expensive hence only companies with high turnover can afford it. then the responses will be checked for any incomplete ones and they’ll be discarded.

[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Diagram: The Flow of the work to be done for the project 11 | P a g e .

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you offer to your customers?(from internet) What type of companies are your major clients? Can you please give me names of few of your clients? What type of setup do you have to provide after sales service to your customer’s? What is the approx timeline which you take to complete integration? Do you use interior designers to design the interior of the room? Are you flexible when the customer asks for some specific product that your company doesn’t offer? How do you satisfy the specific needs? How do you differentiate integration provided by your company as compared to other companies in the same business? Have you ever come across any specific demand of the customer that you couldn’t fulfill or faced lot of difficulty in fulfilling? In a nutshell what do you think is the need of the customer and what kind of markets exists? 13 | P a g e E) F) G) H) I) J) K) L) M) . products of which. The list of the companies can be found in Annexure 1.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Step 4: Exploratory Research The primary objective of exploratory research is to provide an insight and an understanding into the details of the problem. Fifteen companies were found to be major players across India. The following questionnaire was designed: Questionnaire For The Companies In The Same Business A) B) C) D) What are the various applications that you undertake for audio/video integration? What are the various steps that you take up for the proper implementation? What are the products that you provide when it comes to audio/ video integration? Which are the major companies. For this a database of companies in the same business across India was collected.

All of them are flexible in terms of price negotiation and providing products on specific demands. 8. One of the companies claimed that there focus is pitching in products which have wireless connectivity. Three companies claimed that the timeline for the project completion is less than 3 months. 1. All the companies think that there is a huge market potential but some problem is created due to small dealers which sell these products at the same time also undertake projects.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Findings: Various findings were made from this exercise. 3. 2. One of the companies is also entering in the audio and video integration of homes. 14 | P a g e . 5. All the companies provide after sales service and they have dedicated team of technical professionals for this. 7. although they are not professional enough for such jobs. 6. 4. Almost all the companies are providing same products. All the companies claimed that providing best products at cheapest cost is there main focus.

Since a laptop has been provided by the college. In today’s world one can’t imagine any business house not checking e-mail ids.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Step 5: Descriptive Research This was the next step that was undertaken. In this step first of all the questionnaire was designed to collect the responses of the companies regarding the audio and video integration products. Another form which is used is the online survey form. There are many websites which allow creating questionnaires online. 1) Word Format 2) Excel Sheet Format 3) Online It was intended from the beginning to make this project an environment friendly project and use as few papers as possible. The questionnaires designed as shown below: Questionnaires: 15 | P a g e . The questionnaire was designed in three formats. it can be taken to the companies from which the responses have to be collected and the responses can directly be entered into the excel template created earlier. Then they provide link to that questionnaire which can be mailed to the respondents. Hence this opportunity has been used and several responses have been collected through this method.

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asp?sid=p9jom4cl6rouxa1417370 19 | P a g e .com/rendersurvey.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Online Survey Questionnaire Link: http://FreeOnlineSurveys.

the next step will be taken up and again a questionnaire for studying the customer satisfaction will be done. The constraints of funds restricted visits to many areas where going by bus was not possible. Under the paid services of the website one can download the exact responses in excel format. 20 | P a g e . 4. Many people don’t take online survey too seriously and submit incomplete responses. Once the required number of primary data is collected. 5. Many companies do not wish to give out information which leads to incomplete responses. These sites do not provide exact responses instead they show it in some predetermined manner. 2. 6. 3. Many companies said that the decisions regarding these issues are taken by their head offices which are located in some other city. And then rest of the steps will be done as explained in the step 3. Many big companies do not respond to such market research. Problems faced during primary data collection: 1.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] As of now completed responses from 67 companies have been collected. Individual responses have to be downloaded from the online survey providing site and analyzed to get them in the format in which manual survey responses are. which have to be discarded for the final analysis. 13 more are expected to be collected soon.

Mumbai tells that they also undertake integration projects for Telepresence.splis. a US based company has a unique need analysis questionnaire on their website(http://www.godrej. even though they may be physically present across the world.. The website of Neutron Electronic Systems Pvt. which may 21 | P a g e . audio and video integration etc. Ltd.com/avdesign-integration/avdesign-analysis. Some of the other websites use more popular words like boardroom integration. Even popular indexing pages like yahoo>b2b>video conferencing do not show Godrej’s name in the list of some 30 companies. makes them more visible on the internet. The webpage of Godrej & Boyce Prima division has a link for its integrated solution (http://www. 2. AVI-Spl. 3.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Step 6: Visiting various websites Many websites have been visited so far and few of the notable things are mentioned below: 1. Telepresence is the relatively new phenomenon of video communications that envelops the participants in a luxurious.com/GodrejNew/GodrejHome/OurCompanies/GNB/ConsumerProdu cts/ConferencingSolutions/IntegratedSolutions/) but words that are frequently related to this product are not mentioned on the page.asp) provide a new way to reach out to the prospective customers. comfortable meeting environment where the technology is transparent and the high definition video clarity is so sharp that the far end participants appear to be just across the table. Even the search engines like Google do not show godrej on the first few pages of the search result for “audio and video integration”.

2008 Rishikant 22 | P a g e . Nasina Jigeesh Company Guide Name: Mr.in/product/details.  Business to Business Market Research – Ruth McNeil.  http://FreeOnlineSurveys.  Questionnaire Design – Ian Brace. Dinesh Wadhva Date: April 25.asp?cat_id=3  www.com/prima/  www.net/  www.neutron.in/institutional.  22-Immutable Laws of Marketing – Al Ries & Jack Trout.html  Business Marketing and Planning – Subhash C Jain.pinnacleinfo.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] References:  www.specialfx.asp?sid=dju99zck53uv91f411503 Faculty Guide Name: Dr.com/rendersurvey.godrej.

Ltd. Hyderabad. Ltd. Neutron Electronic Systems Pvt. Unicom Info Tel Pvt. Affix Techno. Trustron. Mumbai. 2. Mumbai. 12. Special FX. E-Tech Solutions. Pinnacle Info Vision Pvt. 9. Avaya Global Connect.[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Annexure 1: The list of the competitor companies: 1. Young India Films... New Delhi. Total ACS. D. Hyderabad. Mumbai. 3. 15.. New Delhi. 5. 10. Ltd. Prime InfoTech. 8. Bangalore.Ram Enterprises. Globus Infocom Ltd. 14. 11. Noida. Mumbai. New Delhi. Secunderabad. Mumbai. 7. 6. Puthur Info Tech. 23 | P a g e . Bangalore. 13. Genesis IT Innovations. 4.

[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market] Thank you 24 | P a g e .