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AMITY BUSINESS SCHOOL
AMITY UNIVERSITY
NOIDA, UTTAR PRADESH
A
PROJECT REPORT
ON
"A COMPARATIVE STUDY OF CONSUMER PREFERENCE FOR BAJAJ
BRAND OF HOME APPLIANCES VIS-A-VIS OTHER BRANDS IN EAST DELHI"
SUBMITTED TO SUBMITTED BY
MR. PUNEET SAXENA
Manager-Instt. North India Appliances
BU
ROHIT GARG
MBA (Retail Management)
Enrol. ID: A0116210004
Amity business school
noida
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ACKNOWLEDGMENT
Apart from the efforts done by me, the success of this project depends largely
on the encouragement and guidelines of many others. I take this opportunity
to express my gratitude to the people who have been instrumental in the
successful completion of this project.
I would like to show my greatest appreciation to Mr. Puneet Saxena. I would
also like to thanks to Mr. Manesh & Mr. Rakesh (BABA DISTRIBUTOR,
east Delhi) for their sincere help. I can¶t say thanks, enough for their
tremendous support and help. I feel motivated and encouraged every time I
attend meeting with them. Without his encouragement and guidance this
project would not have materialized.
The guidance and support received from all the staff member of Mega
Electronics was vital for the success of the project. I am grateful for their
constant support and help.
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PROFILE OF THE COMPANY
INTRODUCTION
The Bajaj Group of India owes immense gratitude to their founding father
whose vision and dedication over the years has greatly helped to build a
business house that can set standard in Indian industry.
Jamnalal Bajaj was the founding father of the Bajaj Group. The adopted 'fifth' son
of Mahatma Gandhi, and the 'merchant prince' who held the wealth he created
in trust for the people of his country, Trust - a simple word that contains a
whole philosophy handed down by Jamnalal Bajaj to his successors. He
valued honesty over profit.
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kamalnayan Bajaj, elder son of Jamnalal Bajaj, followed footsteps of his
illustrious father and consolidated the Bajaj foundation. With characteristic
foresight and pragmatic; vision, he launched a steady diversification
programme which gave the current name "Bajaj" both its shape and size. His
unique management style created a work culture that matched well with the
national spirit he had inherited.
Ramkrishna Bajaj took over the reins of the "Bajaj group" in 1972 after Kamalnayan
Bajaj and steered the Group from strength to strength for over 22 years. He had also
actively participated in the freedom struggle of the country. In post independent
India, he had led the youth movement.
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Shekhar Bajaj, Chairman & Managing Director of Bajaj Electricals Ltd., started his
career with Bajaj Sevashrarn after which he worked at Bajaj International, the
groups export company. Mr. Shekhar Bajaj joined Bajaj Electricals in 1980,
became the Managing Director in 1987 and took over as the Chairman and
Managing Director in 1994. .
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HISTORY
People don't just bring their brains to work: they also bring their hearts and soul.
They want to feel passionate about what they are doing and be a part of whatever is
great. We at Bajaj Electricals Limited, recognize this truism and seek out and
strike a dialogue straight with the hearts and souls) of our employees. Here is a
quote from Mr. Shekhar Bajaj, our Chairman and Managing Director -
"Every individual has the potential to perform if he or she gets proper
motivation, the right opportunity and the freedom to work. In the long run
success is achieved when ordinary people perform extraordinarily. It is
important to keep an open mind rather than drawing preconceived impressions
about people. More often that not , such impressions will be proven wrong."
Faster, Higher, Stronger - is our maxim, our way of individual and organizational
performance. This is how we managed a successful business turnaround in Bajaj
Electricals Ltd - with and through each one of our employees. And not only our
excellent brand of products, our people provide an excellent competitive
advantage to us.
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We are looking at collaboration for our luminarie business through a licensing
agreement as there is a need for technologically superior products which are state-
of-the art. We are in advanced discussions. I cannot disclose anything further at
this stage," Bajaj Electricals chief operating officer and president R Ramakrishna
said.
The luminaire business is one of the five special business units (SBUs) of the
company. The others are appliances, pans, lighting and the engineering business.
Bajaj Electrical luminaries find applications in the engineering, power, steel,
cement, fertilizer, chemical and petrochemical sectors.
Earlier, Bajaj Electricals had entered into a licensing agreement with Murphy
Richards of the UK for its irons. This tie-up also entails a technology transfer.
The company is targeting revenues of Rs 1,500 core by the year 2009-10.
"The biggest contributor to this will be the engineering business. Till
recently, we were only into the manufacture of power transmission towers. Now,
we will be installing them too," Mr. Ramakrishna added. The engineering and
projects business is also the fastest growing business.
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This business has an order book of over Rs 150 core and has grown by over 85%,
senior company executives said. The company clocked net sales of Rs 505.26
crore in the last fiscal and is expected to add around 25% to its top line this fiscal, he
said. The company which had been facing tough times a few years back has
bounced back after the implementation of a restructuring exercise.
This entailed the reorganization in to five SBUs, brand building, and a growth of
revenues. Last year, the company also came out with a rights issue at premium of
Rs 15 per share. Further, the company also of out of the die-casting business by giving
a VRS at the plant, selling the development rights of the land and entering into a
non-compete clause with a competitor.
Bajaj Electricals' President and Chief Operating Officer, Mr. R Ramakrishna told
Business Line that the restructuring has helped the company to turnaround and
now it expects to double its revenues to about Rs 1,000 core within three years. The
company hopes to end the current fiscal with revenue of around Rs 730 core, an
increase of 20 per cent over fiscal 2008-09.
Mr. Ramakrishna said it had roped in Accenture Consulting to chart out a
turnaround for the company. As per the new plan, Bajaj Electricals dropped its
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matrix structure for its organization in favor of separate business units for each of
its businesses.
It now has five separate business units - engineering and projects, luminaire,
appliances, fans and lighting. "Each of these units compete as separate businesses
with its, competitors," Mr. Ramakrishna said. The company also got rid of
unviable businesses.
For example, it shut down its die cast operations and offered VRS to 180 people.
It also sold surplus land of the unit.
He said the company also went in for financial restructuring by swapping high
cost funds with low cost long-term debt. The banks too have lowered interest cost
and increased the moratorium for another two years.
The company plans to invest about Rs 20 core, spread over the next fiscal, to
double the existing capacity in its engineering unit to execute its Rs 160 core
worth of fresh order from Power grid Corporation for erection and commissioning
of power transmission tower.
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Mr. Ramakrishna said the engineering unit, which registered a growth of 88 per
cent over the last fiscal, is expected to outpace other business units. The company
expects about 25 per cent of its revenues to come from its engineering business, he
said.
Mr. Ramakrishna said with the Power Grid according thrill the status of approved
EPC contractors, it expects bigger orders from the power company. He pointed out
that with an estimated investment proposal of Rs 75,000 core by Power grid
Corporation; there was a huge opportunity for the company.
Mr. Ramakrishna said the company had entered into a licensing arrangement
with Trilux, a leading European luminaries brand and a market leader in
lighting in Germany. The tie-up, though is aimed to market the products to
premium segments in the country, could lead to manufacturing Trilux products in
the long term.
Bajaj's own products to provide full spectrum of lighting products, he said.
Similarly, Bajaj's tie-up with UK's leading small appliances brand Murphy
Richards had helped it to position itself in the premium end of the market.
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Mr. Ramakrishna said Bajaj Electricals has a market share of between 15 per cent
and 20 per cent in the appliances segment, 20 per cent in luminaries and 10
per cent in lighting. The company has also been able to take on the unorganized
sector by offering competitive pricing of its products in the lower end. "Our
China sourcing strategy has helped us to buy from the world's best without
compromising on the quality of the products,"
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BAJAJ ELECTRICALS KEEPS ON SHINING
Bajaj Electricals Limited (BEL) is a part of the "Bajaj Group" of India who
are in the business of steel, sugar, two wheelers & three wheelers.
Bajaj Electricals is well established in their range of products such as lamps
& tube lights, luminaries, small household appliances, ceiling fans & table fans
and turnkey engineering services. The company has been in existence for the
last 60 years and has steadily grown and expanded its business both in
domestic and international markets.
Bajaj Electricals has 20 branch offices and 4 regional offices spread in
different parts of the country besides being supported by a chain of about
600 distributors, 2500 authorized dealers, over 60,000 retail outlets and over
200 service franchisees
BEL today has five major business units comprising of lighting,
luminaries, electric fans, home appliances, turnkey engineering projects.
BEL's export activities are well supported through its International division.
The Company has recently forayed into electric power generation through wind
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energy in its quest to reduce the depletion of fossil fuels and preserved the
environment.
Total Quality Management (TQM) has taken roots in some important business
processes of the Company. Few business units of the company have already
received ISO Certifications while the other BUs are on the anvil to obtain the
same.
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Research methodology
1) Direct interface with customers.
2) Questionnaire to be filled by customers containing open ended and close ended
questions
3) Consolidation and analysis of data using different analysis test like (SPSS,
factor analysis etc)
4) Consolidation and summarization of study, conclusions & recommendations
based on findings
5) Direct sales of Bajaj appliances to walk-in customers at retail outlets in East
Delhi
Research Methods and Procedures
objectives of the Study:
1) To suggest measures to make Bajaj Electrical Limited compete better with
other home appliance brands being sold in East Delhi markets.
2) To study the awareness, perception and strength of the Bajaj brand in
home
3) To study the purchase satisfaction level in regards to the strength of the
Bajaj Electrical Limited4) To study the reason behind best home appliances
5) To study their preference for the Bajaj home appliances
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Research Questions
The research questions were short, simple, non-disguised and self explanatory.
Almost all the questions were structured in a way so, no confusion creates any
discrepancies in the mind of the respondents and also to get honest and straight
answers from them. It took a maximum of 05-10 minutes to get this questionnaires
filled by respondents. So therefore the questions were framed in an approachable
manner and every question complemented the next question.
Participants / Sample size
Data was collected from 50 customers in East Delhi.
Sampling Area & Technique
The study was conducted on field; the questionnaire was filled by customers. The
survey mainly covered East Delhi region. The sampling technique used was
CONVIENIENCE SAMPLING as it was easier to collect the data and also there
was less chances of any favourism.
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Procedure / Instruments Used
Mode of Survey
The consumers had to fill up our questionnaire, which was our instrument of
survey.
While pursuing the research, structured questionnaire with closed-ended and some
open ended questions were used.
Structured Questions: they improve the reliability of the study, by ensuring that
every respondent is asked the same questions.
Structured answers: structuring or standardizing answers which the respondent can
choose from in a questionnaire also achieves consistency of form. Additionally, it
makes the interpretation of answers, analysis and tabulation, easier than in the case
of unstructured answers.
Closed-ended questions: questions which structure the possible answers
beforehand are known as closed-ended questions.
Preparing the questionnaire
The questionnaire was prepared keeping in mind the objectives that we had
laid down for the project. Each objective had had a set of questions lined up.
The questionnaire followed the ³funnel approach´ i.e. the questionnaire
follows a sequence starting with the general questions first and with more
specific and personal questions later on to avoid specific questions biasing
the general questions.
A close end questionnaire was prepared by us for the same purpose, to be
filled by the consumer.
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We have used the following types of questions in our questionnaire,
y Multiple choice questions
y Ranking questions
Data Analysis
After collection of data another work necessary for any data collector is to
correctly analyze that data. Statistical tools helped us to correctly analyze the data.
The statistical tool that we have used in our project is SPSS software.
SPSS(originally, statistical package for social sciences) was released in its first
version in 1968 after being developed by Norman H. Nie and C. Hadlai Hull.
Statistics included in the basic software:
y Descriptive Statistics: Cross Tabulation, Frequencies, Descriptive,
Explore, Descriptive Ratio Statistics
y Bivariate Statistics: Mean, T-Test, Anova, Correlation( Bivariate,
Partial, Distances), Non Parametric Tests
y Prediction for numerical outcomes: Linear Regression.
Prediction for identifying groups: Factor Analysis; Cluster Analysis (Two-
Step, K-Means, Hierarchical) Discriminant.
The statistical tools used in the project are:
y Regression Analysis
y Cross Tabs
y Descriptive analysis
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Summary
Research methodology and procedures are the most important part of a project
report. The finding and the result of the research depends upon the methods used,
the data collection, the research questions, the data analysis tools used.
The final objective of a research is to achieve what it was meant to achieve. The
conversion of the objectives into the questionnaire and ultimately the findings from
the research is the core of the research project.
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DATA ANALYSIS AND FINDINGS
REVIEW OF METHODOLOGY
Table 1
Aware Of Bajaj Electricals
Frequency Percent Valid Percent
Cumulative
Percent
Valid Yes 50 100.0 100.0 100.0
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Inference : as I take the sample size for 50 respondents in this all the respondents are well aware
about the brand
Table 2
Purchased Bajaj appliances
Frequency Percent Valid Percent
Cumulative
Percent
Valid yes 31 62.0 62.0 62.0
no 19 38.0 38.0 100.0
Total 50 100.0 100.0
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Inference : net 62% has purchased the product of Bajaj Electrical
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Table 3
Bajaj appliances at home
Frequency Percent Valid Percent
Cumulative
Percent
Valid coolers 4 8.0 8.0 8.0
juicers 9 18.0 18.0 26.0
choppers 7 14.0 14.0 40.0
iron 11 22.0 22.0 62.0
non 17 34.0 34.0 96.0
any other 2 4.0 4.0 100.0
Total 50 100.0 100.0
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Inference: Most preferable product of Bajaj Electrical is iron
Table 4
Other home appliance would prefer
Frequency Percent Valid Percent
Cumulative
Percent
Valid Philips 25 50.0 50.0 50.0
maharaja 10 20.0 20.0 70.0
Inalsa 14 28.0 28.0 98.0
others 1 2.0 2.0 100.0
Total 50 100.0 100.0
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Inference: the other company brand 50% customer mostly prefer Philips
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Table 5
Cooler you use
Frequency Percent Valid Percent
Cumulative
Percent
Valid symphony 12 24.0 24.0 24.0
Bajaj 7 14.0 14.0 38.0
Usha 7 14.0 14.0 52.0
Kenstar 12 24.0 24.0 76.0
any other 12 24.0 24.0 100.0
Total 50 100.0 100.0
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Inference: Symphony and Kenstar are the most preferable brand of coolers among the
customers
Table 6
Satisfied with after sales service
Frequency Percent Valid Percent
Cumulative
Percent
Valid yes 20 40.0 40.0 40.0
no 30 60.0 60.0 100.0
Total 50 100.0 100.0
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Inference : There are around 60% respondents replied that they are not satisfied with the after
sales services which they are getting from the company.
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Table 7
Service rank Bajaj Electrical
Frequency Percent Valid Percent
Cumulative
Percent
Valid excellent 1 2.0 2.0 2.0
good 19 38.0 38.0 40.0
neutral 15 30.0 30.0 70.0
average 12 24.0 24.0 94.0
poor 3 6.0 6.0 100.0
Total 50 100.0 100.0
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Table 8
Price service Bajaj Electrical
Frequency Percent Valid Percent
Cumulative
Percent
Valid excellent 3 6.0 6.0 6.0
good 9 18.0 18.0 24.0
neutral 26 52.0 52.0 76.0
average 11 22.0 22.0 98.0
poor 1 2.0 2.0 100.0
Total 50 100.0 100.0
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Table 9
Quality rank Bajaj Electrical
Frequency Percent Valid Percent
Cumulative
Percent
Valid excellent 4 8.0 8.0 8.0
good 18 36.0 36.0 44.0
neutral 17 34.0 34.0 78.0
average 9 18.0 18.0 96.0
poor 2 4.0 4.0 100.0
Total 50 100.0 100.0
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Table 10
After sales service Bajaj Electrical
Frequency Percent Valid Percent
Cumulative
Percent
Valid excellent 2 4.0 4.0 4.0
good 13 26.0 26.0 30.0
neutral 17 34.0 34.0 64.0
average 10 20.0 20.0 84.0
poor 8 16.0 16.0 100.0
Total 50 100.0 100.0
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INFERENCE: from table 7 to 10 : rank Bajaj electrical
Quality>service>price>after sale service
Table 11
Switch over from Bajaj Electrical to other brand
Frequency Percent Valid Percent
Cumulative
Percent
Valid Price 17 34.0 34.0 34.0
Quality 9 18.0 18.0 52.0
brand image 8 16.0 16.0 68.0
after sales service 13 26.0 26.0 94.0
Accesibility 3 6.0 6.0 100.0
Total 50 100.0 100.0
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Regression Analysis
Variables Entered/ Removed
Model
Variables
Entered
Variables
Removed Method
1 Satisfied with
after sales
service
. Enter
a. All requested variables entered.
b. Dependent Variable: purchased Bajaj
appliances
Table 12
Model Summary
Model R R Square
Adjusted R
Square
Std. Error of
the Estimate
1 .639a
.409 .396 .381
a. Predictors: (Constant), satisfied with after sales service
Table 14
ANOVA
Model
Sum of
Squares DF Mean Square F Sig.
1 Regression 4.813 1 4.813 33.164 .000a
Residual 6.967 48 .145
Total 11.780 49
a. Predictors: (Constant), satisfied with after sales service
b. Dependent Variable: purchased Bajaj appliances
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Table 15
Coefficients
Model
Unstandardized
Coefficients
Standardized
Coefficients
t Sig.B Std. Error Beta
1 (Constant) .367 .184 1.992 .052
Satisfied with after sales
service
.633 .110 .639 5.759 .000
a. Dependent Variable: purchased Bajaj appliances
Inference: from table 13 to 15 it shows that satisfied with the after sales service does not affect
the sales of the Bajaj appliances
Factor Analysis
Table 16
Communalities
Initial Extraction
Service rank Bajaj
Electrical
1.000 .971
Price service Bajaj
Electrical
1.000 .763
Quality rank Bajaj
Electrical
1.000 .686
After sales service Bajaj
Electrical
1.000 .971
Extraction Method: Principal Component
Analysis.
a. Only cases for which Bajaj appliances at
home = iron are used in the analysis phase.
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Table 17
Total Variance Explained
Comp
onent
Initial Eigenvalues Extraction Sums of Squared Loadings
Total
% of
Variance Cumulative % Total
% of
Variance Cumulative %
1 2.129 53.233 53.233 2.129 53.233 53.233
2 1.262 31.562 84.795 1.262 31.562 84.795
3 .564 14.109 98.904
4 .044 1.096 100.000
Extraction Method: Principal Component Analysis.
a. Only cases for which Bajaj appliances at home = iron are used in the analysis phase.
Table 18
Component Matrix
Component
1 2
Service rank Bajaj
Electrical
.965 -.198
Price service Bajaj
Electrical
.405 .774
Quality rank Bajaj
Electrical
.629 .539
After sales service Bajaj
Electrical
.799 -.577
Extraction Method: Principal Component
Analysis.
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a. 2 components extracted.
b. Only cases for which Bajaj appliances at
home = iron are used in the analysis phase.
Inference: it shows that 2 factors affecting Bajaj are price and quality
SWOT ANALYSIS
Strengths:
y Brand image
y Product quality
y Product awareness in the market.
y Dealers distributed widely across the country.
y Good will in the market.
y Older player in the market.
Weakness:
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y Lack of market strategies.
y Lack of advertisement.
y Delay in servicing facility.
y Lesser promotion effort.
Opportunities:
y Take advantage of brand image of Bajaj electrical limited"
y Ability to convince the companies through market representation.
y Joint venture would increase database& product range.
y Increase their presence at dealer point.
y To use market leader strategies.
Threats:
y Presence of other competitors with good capture of market e.g.
Philips, Usha, Inalsa.
y Loyalty of consumers to other brands.
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y Form
y Features
y Performance
y Durability
y Reliability
y Repairability
y Design
In service differentiation it should focus on-
y Ordering ease
y Delivery
y Installation
y Customer consulting
y Maintenance & repair
y Miscellaneous
In personnel differentiation it should focus on-
y Competence
y Competence
y Courtesy
y Credibility
y Reliability
y Responsiveness
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y Communication
In channel differentiation it should focus on-
y Coverage
y Expertise
y Performance
In image differentiation it should focus on-
y Symbols
y Colors
y Slogans
y Special attributes
6) Company should also focus on events and sponsorships.
7) As Philips and Inalsa are market leaders whereas Bajaj is market challenger in home appliances
it should use market challenger strategies which are given below
y Frontal attack:
In pure frontal attack, the attacker matches its opponent's product, advertising. price &
distribution. The principal of force says that the side with greater manpower will win.
y Flank attack:
The major principal of offensive warfare is concentration of strength against weakness.
y Encirclement attack:
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The encirclement maneuver is an attempt to capture a wide area of the enemy's territory.
y Bypass attack:
The most indirect assault strategy is bypass. It means bypassing the enemy and attacking
easier markets to broaden one's resource base.
y Guerrilla warfare:
It consists of waging small intermittent attacks to harass and demoralize the opponent and
eventually secure permanent footholds.
8) Wall paintings, pamphlets_ distribution procedure in the public can also help in the promotion
of Bajaj home appliances.
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QUESTIONNAIRE
1) Are you aware of Bajaj Electricals?
a) Yes b) No
2) Have you ever purchased a Bajaj appliance?
a) Yes b) No
3) Which all Bajaj appliance you have at home?
a) Coolers b) Juicers c) Choppers d) Iron e) Nonf) Any other««««««««««««««. (plz. specify)
4) Which other home appliance brand would you prefer?
a) Philips b) Maharaja c) Inalsa d) Others please specify
5) Which Brand of Cooler do you use?
a)Symphony b) Bajaj c) Usha d) Kenstar e) Any
other««««««««««««««««(specify)
6) Are you satisfied with the after sales service you get by buying Bajaj Home Appliances?
[ ] Yes [ ] No
7) How would you rank Bajaj electrical
Excellent Good Neutral Average Poor
Services
Price
Quality
After Sales
Service
8/6/2019 Report of Bajaj
http://slidepdf.com/reader/full/report-of-bajaj 45/45
8) If ever you need a switch from Bajaj Electrical to other brands, why would it be?
a)Price b)Quality c)Brand image d)After-sales service e) Accessibility
f) Any other (specify)
9) Any specific problem faced by BAJAJ? ............................................................................
..
10) Suggestions for improvement ..
NAME OF CUSTOMER:
Age:
Occupation:
Name of Store:
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