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MBA-II 2015-16 STUDY OF MARKETING MIX

CHAPTER: 1

INTRODUCTION

Marketing mix:

In order to satisfy the needs of its customers a business firm must determine a marketing mix. The marketing mix refers to the apportionment of effort, the combination, the designing and the integration of the elements of marketing into a program or mix, which on the basis appraisal of the market forces, will best achieve the objective of an enterprise at a given time.

Marketing mix is a particular combination of the product, its price, the methods or promote it, and the ways to make the product available to the customer. Based upon its understanding of customers a company develops its marketing mix of product, price, place and promotion. The elements of the marketing mix are intricately and sensitively related to each other. The marketing mix is good or bad as a whole.

The essence of marketing mix is providing desired value to customers. A company cannot possibly satisfy all the customers in a market, because their needs vary. Most organisations do not have the capability to serve widely varying needs. An organisation has to select customers whose needs can be matched with its capability to serve them. If it tries to serve all customers it is sure to have some of them dissatisfied, but it an organization has selected its customers carefully. It is possible to satisfy all of them completely.

Manager must manage these 4p’s in a way that they satisfy customers needs better than competition. Decision regarding marketing mix from a major aspect of implementation of the marketing concepts.

INDUSTRIAL DATA:- Foundries in India Foundries in Maharashtra Foundries in Sangli Foundries in Palus

OBJECTIVES OF THE STUDY:-

1. To study the marketing mix of Palus Engineering Industries.2. To understand the marketing situation of Palus Engineering.

3. To study the strategies carried out to increase the sale volume of selected

company.

BVDU,I/M/R/D/A, SANGLI


SCOPE OF THE STUDY:-

The marketing mix should match customer needs and also corporate resources. The target customer has to be understood in terms of his level of need his ability and willingness to pay a particular amount for his needs being server, the way he would like to the product to be delivered and his most preferred method of accessing information from the company. Once the target customer is identified and understood marketers need to understand how he chooses between rival offerings. A company needs to understand the choice criteria that the customer uses in evaluating offering of different companies. The marketing mix should reflect the customer’s choice criteria.

The analytical scope is restricted to tabular and graphs and interpretation done by researcher. The study will be useful for following points:

The brand awareness Level of awareness about Palus Engi. Industry. Demand for Palus Engi. Industry. Quality and Quantity Promotional activities

That will help company to analyze the present situation and marketing mix of Palus Engi. Industry. Also company benefited by promoting its services.

LIMITATIONS OF THE STUDY:-1. The study is limited to only one company i.e. Palus Engi. Industry.2. The scope of the study finding, suggestion are depends upon the primary

and secondary data collected from the organization.3. The study is carried out for the particular organization therefore inter firm

companies is not possible due to unavailability of the respective data of competitors.

4. The project duration is limited.5. Due to time constraints for carrying out the study is not possible to do in

dept analysis likes projection, comparison with competitors.

RESERACH METHODOLOGY:-Research methodology may be understand as all those methods that are

used for conducting research method techniques, thus refers to the methods the researcher used in performing research operation.



DATA COLLECTION:-

In order to meet the objective of the study the data was collected with the help of primary and secondary sources. The task of data collection begins after a research problems has been identified and the researcher has to decided upon the methods to used for data collection i.e. whether to us primary method of data collection or the secondary data collection.

The primary data are those while are collected a fresh and for first time and thus happen to be original in character. The secondary data on the other hand, are those which have already been collected by someone

Else and which sort of data he would be using for his study and according to that he will have

to select one or the other method of data collection.

A) PRIMARY DATA:-

Primary data is the first hand information which is being collected by the researcher or assistant is called primary data. Primary data can be collected either through observation or through direct communication with respondents’ in one form or another or through personal interview in the organization.

Primary data was collected with the help of:

1. Information collected form marketing manager.2. Through the informal discussion with organization and dealers at district level.3. Interview method.

B) SECONDARY DATA:-

Secondary data means data that are already i.e. they are refer to data which have already been collected and analysed else. These data may either published or unpublished data.

Secondary data was based on second hand information. Once the primary data has been put to use, the original character disappears and data becomes secondary. In this study fact where collected from the following:

1. The company database.2. Past project reports.3. Sales records of the company.4. Related internet links.



CHAPTER SCHEME: The researcher has following chapter scheme for his report:-

CHAPTER 1: IntroductionCHAPTER 2: Company Profile CHAPTER 3: Theoretical background of the study CHAPTER 4: Data presentation, Analysis and Interpretation CHAPTER 5: Findings, Suggestions and Conclusion BibliographyAnnexure: Questionnaire

CHAPTER 2



COMPANY PROFILE

COMPANY NAME :- PALUS ENGGINERING INDUSTRIES PVT.LTD

[email protected]

ADRESS :- DR. PATANGRAO KADAM INDUSTRIAL ESTATE

PLOT NO:-43-45/71-73 TAL- PALUS,416 310,

DIST- SANGLI ,MAHARASHTRA ( INDIA )

CONTACT PERSON :- MR. S.K.PATIL (CHAIRMAN) - MOB - 9890940154

MR. JAYSING PATIL - MOB – 9922913102

MR.KUBER SAWANT - MOB - 9890161265

RAGISTION NUMBER :- UC9300PNI982PTCO26880

EXCISE NUMBER :- AABCP2244HXM001


mailto:[email protected]


VAT TIN NUMBER :- 27940004960- V

CST TIN NUMBER :- 27940004960- C

SPECIALITY IN :- FG-260 GRADED CASTING

( FROM 10 KG TO 2.500 TONS CASTING )

(2.500 TONS IN ONE SINGLE PEACE )

COMPANY AREA :- 3122.00 – sq.Mtr

MAN POWER :- 75 WORKER

MELTING SECTION :- 30” & 27” TWO CUPOLA WITH CHARGER

MACHIONERY :- 1)SHOT BLAST MACHINE

2) GREEN SAND MIXTURE

3) FINE SAND MIXTURE

POWER SECTION:- 1) AIR COMPRESSOR

2) GENERATOR

MOULDING SECTION :- GREEN SAND & TWO PART MOULDING

SUITABLE MOLDING BOX’S

CORE SECTION :- TOW PART CORE METHOD

SHOT BLAST :- MAKE PATEL FURNACE 72” SHOT BLAST MACHINE

FETTLING SECTION :- 1) SWING GRINDER,

2) ELECTRIC GRINDER ,

3) POINTER ,

4) TABLE GRINDER

OTHER SECTION :- 1) SIX TON’S TWO CRANE



1) TWO TON’S CRANE AVAILABLE

2) PATTERN SHOP

OUR CLIENT :- 1) MATHER & PLATT PUMPS ,PVT LTD PUNE

2) FLOWMORE PVT. LIMITED , GHAZIABAD

3)BEST& CROMPTION ENGG. CHENNAI

4) KISHOPR PUMPS PVT.LTD-PUNE

5)SARAS TECHPART PVT.LTD.-PUNE

6) EXPERT ENGINEERING ENTERPRISE - KARANATKA

7)MANUGRAPH INDIA LIMITED- KOLHAPUR



Product Information

1. Pump Casing

Special Features;

* High Pressure And Gravity CI Casting Machining, Printing, Assembly, etc.

*Weight Ranges From 20kgs to 800kgs Per Piece

2. Bottom

Special Features;

* High Pressure Hydro Testing CI Casting Machining, Printing, Assembly, etc

* Highly Accurate

* Weight Ranges From 150kgs to 2ton Per piece



3.Impellar

Special Features;

* High Pressure And Hydro Testing CI Casting Machining, Painting, Assembly, etc.

* Weight Ranges From 10kgs to 100kgs Per Piece.

4. Top-Bottom

Special Features;

* High Pressure And Gravity CI Casting Machining, Panting, Assembly, etc.

* Weight Ranges From 100kgs to 150kgs Per Piece

.



CHAPTER 3

THEORETICAL BACKGROUND OF THE STUDY

Introduction to the Marketing Mix

Marketing is considered by many these days to be a science. Very general definitions of marketing are as follows:

“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably”. – Chartered Institute of Marketing

“Marketing is the process of planning, and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives”. – American Marketing Association

The Marketing Mix

The discipline of marketing is split into four umbrella categories which we call the “4ps”: Price, Product, Place and Promotion (McCarthy, 1960). Service based organizations sometimes add three other “Ps”: People, Process and Physical evidence to the four 4ps.

Products can be tangible or intangible. A tangible product is something you can physically touch and feel. An intangible product can be a service for example a hair cut. All products have a life cycle; that is from introduction, to growth, to maturity and then decline. However it is important not to forget the gestation period of a product. For example, there might be an opportunity to fill a niche however the gestation period to get to market might be a year, by which time the fad will have past. A company who self aware of their product’s life cycle can adapt and overcome challenges. A product’s life cycle can be manipulated by adjusting the price and range. Apple’s iPods has enjoyed longevity by introducing a range and introducing upgraded versions.

Price is a very important aspect of the marketing mix as it not only determines profitability, but its positioning in relation to competitors. Price is a discipline of study in its own right but there are some general strategies we can briefly overview. Price “penetration” is introducing a product with a low price specifically for the purpose of gaining sales. This might be a strategy for an organization introducing a new range. Price “Skimming” is used for introducing a higher price and lowering it when competition becomes more prominent. This strategy is used a lot by technology companies as early adopters/innovator demographics tend to pay higher prices for the “latest gadgets”.

There are other factors in determining price such as elasticity of demand. For instance how many other suitable alternative are there? Carbonated cola’s have a greater elasticity of demand as there are so many suitable alternatives where as the iPods had less elasticity due to



its relative uniqueness. This will impact on Price as generally speaking the greater the number of alternatives the more competitive the price is.

Promotion is self explained and encompasses all promotional activity such as Advertising, PR and Sales. As you study further you will learn more about the subject of marketing communication and the strategies that evolve from that appellation. The tactics, or media chosen, will depend on resources but also what the objective of the strategy is. For example is the objective was to raise awareness the media chosen will focus more on mass exposure. If the strategy is to solicit a sale then the communication channel will be more targeted.

Place also means, in this context, distribution. Intensive distribution is used for products which might be considered for purchase as soon as they are seen. This method is what most, if not all, Fast Moving Consumer Good (FMCG) firm’s use. The perception of the outlet has not influence on the consumer’s decision to purchase. Exclusive distribution allows a company to manage the intermediaries who sell their products. Car manufacturers use this method frequently. It can give the product prestige and gives the manufacturer more control. Selective distribution is a compromise of the extremes above. The rational for selective distribution might be economical for example the company might focus on those outlets which promise the greatest probability of success. It could be that the outlet skill set might determine if it’s used to sell products. A good example of this would be a pharmaceutical manufacturer that requires intermediaries to offer sound advice to end users.

3p’s adage

Physical evidence is interesting when thinking about a service. If you attend a concert what tangible material is in your possession after words? With that in mind a company can introduce a unique/collectable ticket. Bands sell merchandise such a T-Shirts with this theory in mind. Other attributes of physical evidence are staff uniforms and store presentation.

People can be interoperated as the employees that the consumer will come into contact with. Pizza Hut has a programmed called “customer mania” which is designed with this in mind. Its purpose is to motivate employee to be more proactive with customer needs. Some companies train their staff to project more positive postures.

Process represents the systems in place that affects marketing activities. Some fast food restaurants introduce a “soft launch” of new products so as outlets have a period of time to address idiosyncrasies.



Marketing strategy

An effective marketing strategy combines the 4 Ps of the marketing mix. It is designed to meet the company’s marketing objectives by providing its customers with value. The 4 Ps of the marketing mix are related, and combine to establish the product’s position within its target markets.

Weaknesses of the marketing mix

The four Ps of the marketing mix have a number of weaknesses in that they omit or underemphasize some important marketing activities. For example, services are not explicitly mentioned, although they can be categorized as products (that is, service products). As well, other important marketing activities (such as packaging) are not specifically addressed but are placed within one of the four P groups.

Another key problem is that the four Ps focus on the seller’s view of the market. The buyer’s view should be marketing’s main concern.

The four Ps as the four Cs

The four Ps of the marketing mix can be reinterpreted as the four Cs. They put the customer’s interests (the buyer) ahead of the marketer’s interests (the seller).

Customer solutions, not products: Customers want to buy value or a solution to their problems.

Customer cost, not price: Customers want to know the total cost of acquiring, using and disposing of a product.

Convenience, not place: Customers want products and services to be as convenient to purchase as possible.

Communication, not promotion: Customers want two-way communication with the companies that make the product.

Definition of 'Marketing Mix'

Definition: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.



CHAPTER 4

DATA PRESENTATION, ANALYSIS AND INTERPRITATION

1. Which of the following influenced the customer to buy Palus Engineering Industry?

Table No. 1:-

OPTION RESPONDENTS PERCENTAGE

Price 17 34%

Quality 17 34%

Quantity 16 32%

Total 50 100% Chart No. 1:-

34%

34%

32%

PriceQualityQuantity

Interpretation:-

The interpretation is based on three main elements of company shows in graph. The first interpretation is quality, the customers are more satisfied with the quality of product. Then the customers are shows satisfy with the price and quantity. The middle class people are both i.e. price and quantity are the major part of the product.

The above table shows that 34% customers are satisfied with price and quality, and 32% customers are satisfied with quantity. The reason behind this is that the company provides good quality products to customers.



2. When do you get the delivery after booking the order?

Table No. 2:-

PARTICULAR CUSTOMER PERCENTAGEWithin specific time 40 80%

Delay in specific time 10 20%Total 50 100%

Chart No. 2:-

80%

20%

Within specific time

Delay in specific time

Interpretation:-

The above graph shows that the casting, and the delivary of the product plays

The above table shows that the 80% customer said that they get delivery within specified time & 20% customer said that delay in specified time.



3) what is your opinion about our company’s quality products as compared to other companies?

Table No. 3:-

OPINION CUSTOMER PERCENTAGEBetter 25 50%Good 15 30%

Average 10 20%Total 50 100%

Chart no. :-3

50%

30%

20%

OPINION ABOUT QUALITY PRODUCT

BetterGoodAverage

Interpretation:-

The opinion about quality product shows that the company’s product is better than the other products and the quality plays an important role in customer’s opinions to products purchase. And the companies focus on quality and atomization of the product.

The above table shows that 50% customers said that the quality of products was better

and 30% provide the quality was good. The reason behind that company mainly focuses

on quality.



4) Any complaints from customer about the products?

Table No.:-4

OPINION CUSTOMER PERCENTAGE

Yes 5 10%

No 45 90%

Total 50 100%

Chart no. :-4

10%

90%

COMPLANTS ABOUT PRODUCTS

YesNo

Interpretation:-

The company with good quality and minimum price as a compare to the other products of different companies so that customers complaints about the company’s product is 10% is a good sign of the products.

The above table shows that the 10% customers had complaints about products and 90% had

no complaints.



5) How do you rate our approach to quality management to ensure complete customer

satisfaction?

Table no:- 5

OPINION CUSTOMERS PERCENTAGE

Excellent 30 60%

Good 10 20%

Satisfactory 5 10%

Poor 5 10%

Total 50 100%

Chart no:-5

30%

10%5%

5%

50%

CUSTOMERS SATISFACTION

ExcellentGoodSatisfactoryPoorTotal

Interpretation:- From the above chart 60% customer think id to quality management to

ensure complaint customer satisfaction is excellent 20% customer think is good, 10%

customer is satisfaction & another 10% customer is poor.



6) How do you rate our professionalism in dealing with you?

Table no.:- 6

OPINION CUSTOMERS PERCENTAGE

Excellent 20 40%

Good 15 30%

Satisfactory 10 20%

Poor 5 10%

Total 50 100%

Chart no:-6

40%

30%

20%

10%

professionalism

Excellent GoodSatisfactory Poor

Interpretation:-

The company facilities good with customers the deliveries are within day of booking order.

So the customers are satisfy with the company.

The above table shows that the 40% customers said that professionalism was excellent while

30% said that it was good.



7) Was the customer service representative friendly?

Table No.:-7

CUSTOMER SERVICE

FRIENDLY

CUSTOMER PERCENTAGE

Yes 35 70%

No 15 30%

Total 50 100%

Chart no:-7

70%

30%

CUSTOMER SERVICE FRIENDLY

YesNo

Interpretation:-

The customers service is friendly the attributes of the products such as price, quality,

quantity, packaging are making customer service friendly. And the quality control department

also make customer service friendly.

The above table shows that 70% customers satisfied with company service representative.



8) Did they solve your problem?

Table No.:8

OPINION CUSTOMER PERCENTAGE

Yes 35 70%

No 15 30%

Total 50 100%

Chart no:-8

70%

30%

SOLVE YOUR PROBLEMS

YesNo

Interpretation:-

The company sales person is solving the problems of the customer related to the delivery,

quality and price of the products. And the above graph shows that the maximum customers

are solve their problems.

From above table it can be said that 70% customers satisfied with service representative

while 30% not satisfied.



9) How likely are you to use/ purchase PRODUCT again?

Table no.:-9

OPINION CUSTOMER PERSENTAGE

Definitely 30 60%

Probably 10 20%

Might or might not 5 10%

Never used 5 10%

Total 50 100%

Chart no:-9

60%20%

10% 10%

USE /PURCHASE [PRODUCT]

DefinitelyProbablyMight or might notNever used

Interpretation:-

The company products maximum customer says that they are willing to purchase the

products again. It shows that the companies product are fulfil the customer’s requirements.

From above table it is clear that 60% customers definitely purchase the product again. While

on the other hand only 10% said that they never use the product.



CHAPTER-5

FINDINGS AND OBSERVATION

1) Palus engineering different types of ci-casting product in various business area

that the casting .This company applies the product differentiation strategy.

2) It is observed that company’s position of sales and recommendation to

increase market share is very good.

3) Company’s reputation about the products quality, pricing, distribution and

promotion, marketing strategies, customer relationship and satisfaction, sales

strategy, market strategy, production and expert analysis, turnover is good.

4) It is found that company applies the anticipation of new technology and

marketing mix strategy.



CHAPTER-6

SUGGESSTION AND CONCLUSION

SUGGESSTION:-

1) Company position of sale and turnover, market share , is very good but company can

try to increase market share in global market and concentrating on planning and

implementing the definite goals and action plans.

2) Company can try to improve and planning for future growth drivers that are the higher

GDP growth, disposable income, try to continuous improvement, sales and marketing

activities.



CONCLUSION:-

1) Company applies product differentiation strategy, order execution, sales activities,

marketing mix strategies, anticipation of new technology, CRM; from this it is

conclude the company’s position of sales, turnover and market share is very good.

2) Organization has to make more advertisement through pamphlet distribution in

local newspaper and TV advertisement through the local channel.

3) In this competitive era, company should look forward toward the consumer

satisfaction because ultimately the consumer who will get the benefit and that will

help the company in increasing its market share.



ANNUXURE- I

QUESTIONNAIRE

Name: .............

Address: ............

Contact No....

1) Which of the following are influenced the customer to palus engineering industries

product?

a) Price

b) Quality

c) Quantity

2) When do you get the delivery after booking the order?

a) Within the specific time

b) Delay in specific time

3) What is opinion about our company quality products as compared to other

companies?

a) Good

b) Better

c) Average

4) Any complaints of customers about the products?

a) Yes

b) No



5) How do you rate our approach to quality management to ensure complete customer

satisfaction?

a) Excellent

b) Good

c) Satisfactory

d) Poor

6) How do you rate our professionalism in dealing with you?

a) Excellent

b) Good

c) Satisfactory

d) Poor

7) Was the customer service representative friendly?

a) Yes

b) No

8) Did they solve your problem?

a) Yes

b) No

9) How likely are you to use/purchase [PRODUCT] again?

a) Definitely

b) Probably

c) Might or might not

d) Never used



BIBLIOGRAPHY

Book referred:

Marketing management : Kotler Phillip (eveventh edition)publish by Ashok K.

Ghose, Prentice hall of India, and New Delhi(2007)

Other references:

Company Manuals

Product Boucher’s

Website:

www.google.com


http://www.google.com/

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