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A
Project report
OnMarketing Mix
Undergone At
Prepared by
MORADIYA MANOJ N.
T.Y.B.B.A. .Academic Year 2006-07
Seat No. : - Roll No. : - 24
Guided byProf.Dr. Manish Thaker
InstituteSmt. M. T. Dhamsania Commerce College, Rajkot.
Submitted toSaurashtra University, Rajkot.
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SMT. M. T. DHAMSANIACOMMERCE & B.B.A. COLLEGE,Rajkot.
Certificate
This is to certify that Moradiya
Manoj N.student of T.Y.B.B.A. carried
out his project as per the syllabus of
Saurashtra University.
He has prepared industrial trainingreport under / over supervision and this
is his own contribution for making this
report during the academic year 2006
2007 is appreciated.
Place : Rajkot
Prof.Dr. Manish Thaker
Date : (PRINCIPAL)
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Declaration
I, the undersign Moradiya Manoj N.Student of T.Y.B.B.A. here
by declare the project work presented is my own work and has been
carried out under the supervision of Prof.Dr. Manish Thaker.
This work has not been previously submitted to any other
university for any examination.
Date:
Place: Rajkot Signature: -
Moradiya Manoj N.
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Acknowledgement
First of all, I express my gratitude to lecturer Mr. Thaker for
his great response and guidance. Then I am greatly obliged to my
principal. I would thank to the marketing manager of Priyagold
Ceramic Product Ltd., Morbi. Mr.Kishor Bhai, I am very thankful to
all the staff kindness and willingness me. I am also very thankful to
my friend for their help in preparation of this report.
Date:
Place:Rajkot Signature:
Moradiya Manoj N.
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Preface
In the present world with lots of odds & with decreasing
importance of education & the decreasing loyalty towards education.
There is a need to revies the method of educated employed one of the
method is to accompany practical study with the theoretical method.
This would strengthen the principles & concept of theoretical
education & would become world applicable.
In the present day the business would become a highly
complicated faculty which has to undergo staff competitior & has to
operated in such an environmental where there is no look back
formula to sucess. Thus Saurashtra University has been running a
business management faculty under the degree of B.B.A. to keep the
student interested in it which has practical study under the subject,
Practical Training.
This practical study is useful to determine the parameters
between the theoretical study and the actual situaltion. It is useful to
increase the knowledge and teh foreshight of the student and they
provide them actually step into the dynamic. Everchanging, world of
business.
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I have taken opportuniy to undergo practical training during the
year 2006-2007 in Priyagold Ceramic Baroda and I have done my
research in Morbi city.
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Index
Sr. NO. Topic Page NO.1 General Information2 Marketing Yesterday & Today3 Societal Marketing Concept4 Marketing Mix5 Product Range6 New Product Development7 Marketing Strategy8 My Observation9 SWOT Analysis
10 Conclusion11 Bibiliography
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Content
1. Priyagold Ceramic At Glance
2. Origin
3. Growth & Development
4. Technology
5. Research & Development
6. After Market Support
7. Present Status
8. Mission of the Company
9. Market Strategy
10. Organization Structure.
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Project At Glance Name : Priyagold Ceramic Ltd.
Address : 8-A National Highway,
Opp. Atlas Ceramics
Lalpar Road,Morbi.
Establishment Year : 2001
Form of Organization : Private Limited
Accounting Year : 31 st March
Phone : (02822) 241971, 329470
Fax : (02822) 241921
E-mail : sales@Priyagold
Ceramicindia.com
Website : www.Priyagold
Ceramicindia.com
Bankers : Bank Of Baroda.
mailto:[email protected]://www.delmerindia.com/mailto:[email protected]://www.delmerindia.com/8/6/2019 PRIYAGOLD Mm MBA Porject Report Prince Dudhatra
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OriginPriyagold Ceramic Product was established in 2001. The
company offers you Indias most reliable ceramic tiles with world
class technology from the worlds leading ceramic manufacturing
companies of Italy.
Priyagold Ceramic Product Ltd. Was set up in 2001 with the
initial investment of 3 crore rupees and since then the company is
manufacturing 100% Indigenous Ceramic Tiles.
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Growth &Devlopment
Priyagold Ceramic Product started its operatin in India in
2001as a Private firm for the trading of imported Ceramic Tiles. Then
after the comapny has think over the 100% Indigenous sanitary ware
scale & ultimately it started its operation in India in 2002.
When we take about the products and development is that
Priyagold Ceramic is the leader in India. It has various kinds of Tiles
and was first to introduce Concept series in Morbi.
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Technology
Priyagold Ceramic lists among the top 5 Ceramic
manufactures, with over 18000 customers. We offers one of the
widest range of Ceramic Tiles.
Priyagold Ceramic are very exited about the launch of our
brand new 120k technology. This is a technological break through for
Ceramic manufactures.. Noise filters and one of the semiconductor
industries in recent time.
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Research &Development
When we talk about the research of Priyagold Ceramic product,
company has its own department which works for hours & hours &
tries to develop a high accuracy with capacity along with low prices
and ultimately company has recently launched Concept Series
displayed scale which is included of all features i.e. high accuracy,
with high capacity at low price.
Dedicated the service of the Indian Industry and customers, our
research & development is designing innovating and attempting
breakthrough in the Ceramic Tiles.
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After MarketSupport
A term of professionals specially assigned to provide product
and technical support to our customers through Indias most advanced
& fully computerized customers support center at Morbi.
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Present Status
Priyagold Ceramic Products is committed to long term growth,
has now reached a stage where it can forge a head on the strong
foundation it has built. Strong foundation in terms of man power,
infrastructure, sales and distribution channels, dealer network,
systems integration, all India retail and service presence to deliver
absolute customer satisfaction. The company has charted its growth
deliberately beginning with infrastructure development and
consolidation in the second phase and has now entered market
penetration and targets to be among the tops in each product segment
by year 2005.
B
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Mission Of TheCompany
In fiercely competitive industry, consumer durable markets
company mission is to make a difference in the lifestyle and introduce
new dimension to enjoyment offer new age technology and digital
concepts working hand with domestic industry to produce and sell
excellence and come close to the Indian customer through committed
service.
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Market Strategy
The company has drawn up two prolonged marketing strategy
to achieve this. Introducing new Concept Series through importance
channels support these with focused promotions.
Once the market achieves optimum size, take up the products
for local manufacture.
To support the popular products which are currently
manufactured and marketed in India, including the mega range, with
high powered promotions and judicious media mix.
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OrganizationStructure
Organization structure is the diagrammatic representation of
authority responsibility relationship.
GCMMF have flatten organization structure because it
facilities effective co-ordination and communication.
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Pillars of management:
Leadership
Customer focus
Quality
People involvement
Values of change management:
S- Self discipline
P- Patience
O- Openness
R- Respect
T- Trust
GCMMF has established HOSHIN KANRI. It helped to ensure
that all employees are aware of short, medium and long term plans
and it involves all their employees.
The TQM movement is evident in the AMUL quality circle.
They have trained their employees with a shaper business perspective
which takes into account the complexities of changing market
dynamics.
To make them ore competitive in the FMCG environment they
initiated:
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Performance audit programmers
Invited expert consultancy group to support competency
building for GCMMF.
This help to define each positions roles and responsibilities
better along with the required knowledge, skills and attitudes.
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Marketing
Yesterday &Today
Marketing is the process of planning and executing the
conception, pricing, promotion and distribution of ideas, goods and
services to create exchange that satisfy individual and organization
goal.
Traditional, much importance was given to product rather than
needs and wants of consumers. Marketing manager go on design their
product without giving through to he needs and wants of consumer.
They were trying to sell their product at any cost. Consumers were
bombarded with advertisement; in all calls, telephone calls, etc.
The aim was to earn profit through high sales volume.
Moreover, marketing was considered as buying and selling the
product.
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But now, time has changed, Marketing is considered to be
much more; the focused is given to the needs and wants to consumers.
Products are designed according to the specification of consumers.
Consumers satisfaction is given much importance. The aim to earn
profit through customer satisfaction. Moreover, marketing function
has also widened. Marketing includes back warding and forwarding
development, marketing research, advertising, and many more. In
forwarding functioning it includes post truncation research, after sales
service, disposal of the product, use of the product, etc.
Nowadays ways of advertising is also changing. Traditional mostly
used media was television. Now people started using internet as
media of advertising. More and more number of people is turning to
development to website and net advertising.
Recently new P is introducing in marketing. First there were 5
Ps. Now there are 8 Ps. Last year New P adds is product portfolio
management. Nowadays more importance is also given to marketing
research also knows the latent needs of consumers.
Thus, Marketing yesterday and today is totaling different. One
has to adapt the change to survive in this market.
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SocietalMarketing
Concept
Social marketing concept may be defined as,
The task of achieving organizational goals is to identifying the
needs and wants of consumers and satisfying the needs and wants by
delivering the desired goods and service more efficiently and
effectively than competitors in a way the preserve or enhance society
well being
The GCMFF are contributing in their own way to various
desirous social changes. They took steps like:
Training module of artificial insemination service.
Establishment of cattle feed making.
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Marketing Mix
Marketing mix is the various marketing tools that marketer use
to sell its products. There are 4 Ps of marketing Mix.
4. Products of Marketing
A list of the relevant market forces and the element of the
marketing mix would be helpful in analyzing marketing problems.
The main aim of all marketing activities is profitability. The
marketing manger should therefore devise such a marketing mix that
will give the optimum profit for the product he has to market.
By blending this marketer make a proper plan of action to push
its products in the market.
Definition:
According to Phillp Kotler, Marketing Mix is the set of
marketing tools that the firm uses to pursue its marketing objectives in
the target market.
Product Price Promotion Place
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Element/Tools Of Marketing MixThe most basic marketing mix tool is product the firm tangible
offer to the market, which includes the product quality, design,
features, branding, and packing. As part of its product offering,
providing after sales services, such support services can provide a
competitive advantage in the globally competitive market place.
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Product Mix includes following things:
Product Variety
Quality
Brand name
Service
Design
Packaging
WarrantiesFeature
Sizes
Capacity
Returns
Readability.
Priyagold Ceramic has good product mix. It has long variety of
product, with different readability and size of good quality of product
which is given next. As far are service is concern, company has given
that responsibility to the dealer to give the best quality service.
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Product RangeAccording to PHILIP KOTLER
A Product is anything that can be offered to a market for
attention, acquisition, use of consumption that might satisfy a want or
a need. It includes physical objects, services, persons, places,
organization and ideas.
According to EDLERSON
Product is a bundle of utilities consisting of various product
features and accompanying services.
There are 5 levels of the product which marketer must take in
consideration.
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Levels of TheProductPotential
Argument
Expected
Generic
Core Benefit
Product
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Product mix andlengthProduct mix is the set of all product line and items that a
particular seller offers for sale to the buyer.
Product line is a group of products that are closely related
because they function in a similar manner, are sold to the same
customer groups, are marketed though same types of outlets of fall
within a given price range.
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New ProductDevelopment
The typical new product development process followed by
Priyagold Ceramic is as follows:
The following stages are involved in NPD process.
1 IDEA GENERATION :
New Products are born from ideas. Before searching ideas, top
management should define the products and markets and should also
state the objectives for NPD.
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Sources of new product ideas:
Customers:
Loyal customers often recognize the need for improvement in
the product before companies can do. Companies can identify
customers need through complaint letters, forced group discussion,
etc. and can made changes accordingly.
Scientists, Employees, Engineers:
Company must develop a culture so that employees are
encouraged to give new ideas. They should also develop an incentive
scheme for those who give best ideas.
Competitors:
Company can purchase the competitors product to see the
functioning and accordingly they can develop new product.
Other Sources:
Pattern attorneys, university, advertising, agencies, marketing
research firms, university, business publication and so on.
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2. IDEA GENERATION TECHNIQUE
Attribute Listing:
It is listing an existing products attributes and then modifying
each attributes in the search for an improved product.
For ced Relationship:
In this several objects are considered in relation to one another
to create a new product.
Morphological Analysis:
It is identifying the structural dimensions of a problem and
examining the relationships among them.
Need and Problem Identification:
Here customers needs and problems are identified.
Brainstorming:
It is a group activity to stimulate the flow of ideas by discussing
a specified problem. Here rule is-
We want as many ideas as possible and remember no
evaluation.
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3. IDEA SCREENING:
In this stage new ideas are evaluated to determining the
promising ones. The purpose of ideas screening is to drop poor ideas
as early as possible because product development cost rises
substantially at each successive stage.
The committee should avoid two types of errors:
Drop error: It occurs when committee drop an idea which is good.
Go error: It occurs when committee go with an idea which is poor.
Most of the company uses product idea rating device while
screening the idea price performance, quality, customer satisfaction,
matches with company resources, strategies, objectives, etc. Then
idea is matched with this certain criteria and if it does not match then
idea is dropped.
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4. CONCEPT DEVELOPMENT AND TESTING:
Philip Kotler says,
Attractive ideas must be refined into testable product
concepts.
Consumers do not buy product ideas but product concept.
Product Idea : A possible product that the company might
offer to the market.
Product Concept : An elaborated version of ideas expressed in
consumer meaningful terms.
Product Image : A particular picture in the minds of
customer.
Concept Development:
A product idea can be turned into a several product concept.
Concept Positioning:Each concept is required to be positioned so that it helps to
understand the product competition in relation to cost, time
preparation, quality, etc. These comparisons can be used to
communicate the product concept to the market.
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PRIYAGOLD CERAMIC
EXPENSIVE
Precision Platform Scales Bizerba scaleCounting Scale Priyagold Ceramics
INEXPENSIVE
HIGH PRICE
Suman , Option, And Precious, SatoriousPriyagold Ceramic Others
LOW PRICE
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The major competitors of Priyagold Ceramic are:
Deco
Rajmoti
AND
Others
Priyagold Ceramic are positioned against them as
SCALE OF HIGH QUALITY AT REASONABLE PRICE
Concept Testing:
Concept testing calls for testing this concept with an
appropriate group of target consumers. The concept may be presented
symbolically or physically. Consumers are presented with an
elaborated version of each concept and they are asked to react to each
concept.
If company have undertake proper concept development and
concept testing then it can avoid any problem that arises in the market
place later on in the initially stage only.
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5. MARKETING STRATEGY DEVELOPMENT:
The new product manager will have to develop a preliminary
marketing strategy statement for introducing this product into the
market. This strategy will be refined in the subsequent stages.
This marketing strategy plan consists of 3 parts.
First part describes:
Target market, structure, behavior, sales, market share, profit
goals sought in the first few years.
Second part describes:
Products planned price, distribution strategy and the marketing
budget for the first year.
The Priyagold Ceramic will be offered with lower price .
Third part describes:
Long run sales and profit goals and marketing mix strategy over
time.
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6. BUSINESS ANALISYS:
Once the product concept and marketing strategy are
developing management evaluate the business attractiveness of the
proposal. Management evaluates the sales, cost and profit to
determine whether they satisfy the companys objectives. If they do
them the proposal move into next stage.
Estimating Total Sales:
Management needs to estimate whether sales will be high
enough to yield a satisfactory profit.
Total Sales = First time scale + Replacement sales + Repeat Sales.
Sales estimation depends on whether a product is one time
purchased infrequently purchased or frequently purchased produced.
Scale is one time purchased product. Here number of first buyer
initially less and then decrease as few buyers are left. Repeat sales
will soon occur provided that it satisfies some buyers. The repeat
sales curve eventually falls and become steady because by this time,
the product is longer a new product.
Estimating First time scale:
The first task is to estimate the first time sales of a new productin each period.
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Estimating Replacement Sales:
To estimate replacement sales, management has to research the
product survival age distribution. The low end of distribution
indicates when the first replacement sales will take place. Since,
replacement sales are difficult to measure before actual launch, most
of company base their actual decision solely on their estimate of first
time sales.
Estimating Repeat Sale:
For a frequently purchased product one has to estimate the
repeat sales. A high rate of repeat purchase indicates that the
consumers are satisfied with the product.
Estimating Costs & Profits:
After sales forecasting management have to estimate the costs
and profits of this venture. The costs are estimate by the R & D,
manufacturing department, marketing and finance department
together.
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7. PRODUCT DEVELOPMENT:
I the product pass, the business test, it moves to R&D to be
developed into a physical product. Up to now it exist in the form of
word description, a drawing, or a prototype. At the stage the company
will determine whether the product idea can be translated into a
technically and commercially feasible product.
The R&D department will develop one or more prototype. The
company hopes to find a prototype that satisfies customer
requirement; it performs safely and can be produced with the
budgeted manufacturing costs.
Developing and manufacturing a successful prototype can take
days, months or even years. Lab scientists must not only design the
products required functional characteristics but also they should know
how to communicate its aspects.
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At this stage various decisions like:
Product Engineering
Branding
Packaging
Patenting
Formulating the communication programmes, etc.
When prototype is ready they go through functional and
consumer test.
Functional tests are conducted under laboratory and field
condition to make sure that the product performs safely and
effectively.
Consumer testing can take variety of forms from brining
consumers into a laboratory to giving them samples to use in their
business.
Consumers are given prototype to taste and their suggestions
are taken to make further changes in the product and to improve their
product. In short, Priyagold Ceramic undergone consumer test.
The final prototype of Priyagold Ceramic scale was available at
33% of a retail price of other scales of company toppings.
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8. TEST MARKETING:
After management is satisfied with the products functional
performance, the product is ready to be dressed up with a brand name,
packaging, and preliminary marketing programmes.
The purpose of market testing is to learn how consumer and
dealers react to handling, using and repurchasing the actual product
and how large the market is?
The amount of test marketing is influenced by investment cost,
risk factors, time pressure and research cost, so, not all the companies
choose the route of market testing.
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TECHNIQUES OF TEST MARKETING
CONSUMER GOODS INDUSTRIAL GOODS
1. Sales wave research 1. Product use test
2. Simulated test marketing 2. Trade show
3. Controlled test marketing 3. Distributors & dealers display
4. Test Marketing 4. Controlled test marketing
Priyagold Ceramic scale is a consumer good. Technique used
by Priyagold Ceramic for test marketing is Test Market. It is a
technique where company usually selects few representative cities in
which the company sales force will try to sell the product with full
exposure of advertising, promotion campaign, etc.
Priyagold Ceramic selected cities like Morbi, Ahemdabad,
Surat, Baroda, etc. for test marketing with a discount of rupees.
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9. COMMERCIALISATION:
Market testing gives idea to management whether to launch the
product or not. If company goes for product launch it calls for high
investment because to launch a new product into the national market
requires heavy spending on advertisement and promotion in the first
year.
Commercialization involves the following aspects:
When (Timings):
In launching a new product company has to think whether it is
a right time to launch the new product. The company faces 3 choices
First entry
Parallel entry
Late entry
Priyagold Ceramic scale was launched on July 2002 to grab the
expanding market of scale range.
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Where:
The company must decide whether too launch the product in
single locality, region, national market or the international market.
Financial sound company may launch their product into full national
market. While small company first select one cities and slowly they
into other cities and they distribute in whole nation.
Priyagold Ceramic scale was initially launched in Surat,
Ahmedabad, and Baroda and then they enter other cities and now it is
available in the whole nation.
To Whom:
The company must target its distribution and promotion to the
best prospect groups. Companies best prospect group is one:
Who are early adopters?
Who are heavy users?
Who would be opinion leaders?
Who could be reached at a low cost?
Priyagold Ceramic scale target market is low budget customer,
ruff users, etc.
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How:
The company must develop action plan for introducing the new
product into the markets.
Priyagold Ceramic scale was launched at a discount of 15%
initially and now no discount is given to customers.
Thus, the entire process of new product development was
completed in around 1 or 1.5 year.
Adopters of Priyagold Ceramic scale are in the trial and
adoption stage.
Main factors which affect the adoption of Priyagold Ceramic
scale are:
Beliefs of customers
Traditional habits
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There are other forms of product life cycle also. They are:
Cycle-Recycle pattern
Scalloped pattern
Style pattern
Fashion pattern
Fad pattern
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Priyagold Ceramics LCD scale which is under their
SNOWCAPs frozen scale division is in the introduction stage. As far
as its marketing strategies are concerned it is as follows:
Price: It is priced very reasonably i.e. 33% of a retail
price of other scale of company.
Distribution: It is distributed through their distribution
Gold chain. They are given free training, advertising
allowance; they were given 10 t0 15% of margin.
Quality: It is placed as high quality product.
Promotion: They spend heavily on promotion to compete
with scale companys like Sansui, Atoc, AND, etc.
In short, as far as marketing strategies in introduction stage is
concerned Priyagold Ceramic follows Rapid Penetration Strategy.
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2. GROWTH STAGE:
This stage is marked by rapid climb in the sales. Prices remain
where they are or fall, promotional expenditure is maintain or raised,
sales increases, profit also increases.
Marketing Strategies:
The company uses several strategies to sustain market growth
as long as possible. The company uses strategies like:
Add new features to the product
Enter new segment
Improve product quality
Lower the price of the product, etc.
In this stage company spends heavily on product improvement,
promotion and distribution but they forgo current profit in the hope of
making it in the future.
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Priyagold Ceramic most of the product series are in growth
stage like Gold, Silver, Diamond, Industrial, retailer etc.
To sustain their market growth Priyagold Ceramic is:
Adding new features to their product.
Developing new varieties of existing product
Trying to enter new market segment by introducing new
product.
3. MATURITY STAGE:
At this stage the product rate or growth will down. This stage
lasts longer than the previous stages. Maturity stage can be divided
into 3 phase:
Growth Maturity
Stable Maturity
Decaying Maturity
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Marketing Strategies:
In this stage company feels they can do very little. But
marketers can consider strategies of:
Marketing modification strategies:
The company should try to expand their market either by
increasing the number brand users or by increasing usage rater
per users.
Product modification:
They can also increase their sales either by improving the
quality, features or style.
Marketing mix modification:
They can also stimulate sales by modify prices, distribution,
advertising, sales promotion, services, personal selling
strategies.
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Priyagold Ceramics scale of Gold series is in the maturity
stage. To increase the sale they are:
Trying to enter new segment by introducing with high
accuracy and high capacity.
Trying to increase more usage per occasion by
advertisement.
Introducing sale promotion scheme like gifts, discount,
contest, etc.
Improve their quality of product.
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4. DECLINE STAGE:
In this stage sales of the product decline. Due to fall in sales
production decreases, price cuts and profit erosion. Some firms
withdraw from the market, while some withdraw form the smaller
segment.
Marketing Strategies:
Identifying weak product
Determining the marketing strategies
Drop decision
No products of Priyagold Ceramic are in the decline stage.
Competitors:
Sansui
ATCO
AND
OTHERS
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My Observation
Priyagold Ceramic Product Ltd. is a unique unit in itself.
Through establishment of DPL Public Ltd. movement is started which
led to standard of living.
I feel glad that I have been the part of it for few days.
The unit is well equipped with latest technology and modern
machines and equipments.
Self discipline is followed by employees.
As it is weighing industry accuracy plays a very important role
because it affects the quantity of product. The unit is kept very
accurate capacity.
The staff and workers were well organized and co-operative.
It has its unique name in the industry and it is one of the well
known units. When I was under going training along with
methodology many students were was under going training.
I sincerely, wish Priyagold Ceramic all the best for its future
and hope that it succeeds in achieving all the goals that it has set for
itself.
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SWOT AnalysisThe SWOT analysis just a nut sells view of all the important
aspects of the product. SWOT stand for S Strength, W Weakness,
O Opportunity and T Threat. The SWOT analysis of the LCD
screen displayed scale.
Strength of the company
Technically innovative product
Better brand name
Better brand preference
Good distribution channels
Good after sales service.
Weakness of the company
Low end product
No scheme allowed
Specifically dealer scheme
And consumers scheme
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Opportunity of the company
Increase market share
Aiming to be 3 rd by 2005
Increase the sell of new
product
Threat of the
company
Low end
product may take over the market their by
Decrease
in market share
Decrease
in sales volume.
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Conclusion
Priyagold Ceramic today is one of the leading company in the
scale and now its aiming to become a entire scale company. With its
newly added tag of the electronic weighing people and clever
formulation of price and product it targets virtually all segments of the
market.
Priyagold Ceramic LCD screen displayed scale is also one such
product with low price, high capacity and high accuracy added more
value to the company targeting the price sensitive consumers in the
market.
This scale is facing some problem in the market and it not
showing any growth trends. But it found to be showing some negative
trends instead. But with proper consideration and some required
changes like aggressive promotion, re-positioning, and better
packaging the product can make it big into the market, provided there
is no increase in its price levels and it remain at part with its local
counter parts.
I wish Priyagold Ceramic Product Ltd. & its LCD screen
displayed scale all the truck for a progressive future.
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Bibliography
Name of book Authors name
1. Marketing Management S.A. Sherlekar
2. Marketing Management J. C. Gandhi
3. Companys website www.delerindia.com
http://www.delerindia.com/http://www.delerindia.com/Top Related