Summer Training Report On "Business Development Through Various Marketing Strategies at KAILASH CABLES Pvt. LTD."
Summer Training Report On "Business Development Through Various Marketing Strategies at KAILASH CABLES Pvt. LTD."
Summer Training Report On "Business Development Through Various Marketing Strategies at KAILASH CABLES Pvt. LTD."
Submitted in partial fulfilment of the requirements for the award of the degree of
Submitted by:
VAIBHAV ARORA
41717788818
I, Enrolment No.- 41717788818 from B.COM(H) - Vth Semester of the Vivekananda Institute of
Professional Studies, Delhi hereby declare that the Summer Training Report entitled “Business
Development through various marketing strategies at KAILASH CABLES Pvt. Ltd.” is an
original work and the same has not been submitted to any other Institute for the award of any
other degree. A presentation of the Summer Training Report was made on 30th October 2020
and the suggestions as approved by the faculty were duly incorporated.
Date:
Date:
Designation:
Signature:
ACKNOWLEDGEMENT
This report would have been quite impossible without the immense help and pleasant
environment offered at KAILSAH SCABLE Pvt Ltd., where in they hired me as an intern
for almost 45 days. I am deeply grateful to the entire management of “VSBS (VIPS)” for
giving me an opportunity to work on the practical aspect of life.
At the outset of this report, I would like to thank all those who helped me directly or
indirectly and whose diligent efforts made this report possible. To start with, I would like to
thank KAILSAH CABLES Pvt Ltd. and Vivekananda Institute of Professional Studies
for providing me the chance to undertake this internship study and allowing me to explore
more about Market Research.
I would like to express my profound gratitude towards my Faculty Guide Ms. RUCHIKA
SHARMA for her valuable suggestions, comments, feedback and support throughout the
internship. It has been great to work under her guidance.
Regards,
VAIBHAV ARORA
41717788818
TABLE OF CONTENTS
Topic Page No
Student Declaration ii
Certificate of Internship Training iii
Acknowledgement iv
Executive Summary vii
CHAPTER 1: INTRODUCTION 1
CHAPTER 2: REVIEW OF LITERATURE 5
CHAPTER 3: RESEARCH METHODOLOGY 12
CHAPTER 4: DATA ANALYSIS 16
CHAPTER 5: FINDINGS 33
CHAPTER 6: SUGGESTIONS AND CONCLUSION 35
Bibliography 38
Annexures 40
CHAPTER -1
INTRODUCTION
When talking about the power sector, copper holds high significance in terms of usage and
consumption. The world average per capita consumption is around 2.7 kg, with the electrical
sector being the largest user of copper in India. Since copper and its alloy components play
vital role in electricity generation, distribution and utilisation, 12-15 per cent p.a. demand
growth in this sector is possible, if good quality is assured.
Quality of copper plays a very important role in wires i.e. use of Electrolytic Tough Pitch
(ETP) grade copper wherein the purity of copper in percentage terms should be Min 99.90
per cent as per national standards, All electrical consultants and A-grade electrical
contractors, while specifying makes, should ensure quality credential from independent
laboratory, or else poor quality of copper used in the wires may result in safety hazard as
well as energy loss. As important as it is to use good quality copper, there are various
disadvantages and serious consequences of using untested copper for wiring .
However, it's challenging to boil down the definition of business development. First,
let's look at the underlying concept and how it connects to the overall objectives of a
business.
For instance, a business has a product or service which is successful in one region, such as
the United States. The business development team assesses further expansion potential. After
all due diligence , research, and studies, it finds that the product or service can be expanded
to a new region, such as Brazil.
The four Ps of marketing are the key factors that are involved in the marketing of a good
or service. They are the product, price, place, and promotion of a good or service. Often
referred to as the marketing mix , the four Ps are constrained by internal and external
factors in the overall business environment, and they interact significantly with one
another.
The 4 Ps are used by companies to identify some key factors for their business, including
what consumers want from them, how their product or service meets or fails to meet
those needs, how their product or service is perceived in the world, how they stand out
from their competitors, and how they interact with their customers.
The four Ps are the four essential factors involved in marketing a good or service
to the public.
These are the four Ps: the product (the good or service); the price (what the
consumer pays); the place (the location where a product is marketed); and
promotion (the advertising).
The concept of the four Ps has been around since the 1950s; as the marketing
industry has evolved, the concepts of people, process, and physical evidence have
become important components of marketing a product, too.
Product
Product refers to a good or service that a company offers to customers. Ideally, a product
should fulfill an existing consumer demand. Or a product may be so compelling that
consumers believe they need to have it and it creates a new demand. To be successful,
marketers need to understand the life cycle of a product, and business executives need to
have a plan for dealing with products at every stage of their life cycle. The type of product
also partially dictates how much businesses can charge for it, where they should place it, and
how they should promote it in the marketplace.
Price
Price is the cost consumers pay for a product. Marketers must link the price to the product's
real and perceived value, but they also must consider supply costs, seasonal discounts, and
competitors' prices. In some cases, business executives may raise the price to give the
product the appearance of being a luxury. Alternatively, they may lower the price so more
consumers can try the product.
Marketers also need to determine when and if discounting is appropriate. A discount can
sometimes draw in more customers, but it can also give the impression that the product is
less exclusive or less of a luxury compared to when it is was priced higher.
Place
When a company makes decisions regarding place, they are trying to determine where they
should sell a product and how to deliver the product to the market. The goal of business
executives is always to get their products in front of the consumers that are the most likely to
buy them.
In some cases, this may refer to placing a product in certain stores, but it also refers to the
product's placement on a specific store's display. In some cases, placement may refer to the
act of including a product on television shows, in films, or on web pages in order to garner
attention for the product.
Promotion
Promotion includes advertising, public relations, and promotional strategy. The goal of
promoting a product is to reveal to consumers why they need it and why they should pay a
certain price for it.
Marketers tend to tie promotion and placement elements together so they can reach their core
audiences. For example, In the digital age, the "place" and "promotion" factors are as much
online as they are offline. Specifically, where a product appears on a company's web page or
social media, as well as which types of search functions trigger corresponding, targeted ads
for the product.
Likewise, business development can give marketing a better idea of the language customers
use to describe their needs. Then Marketing can create a full funnel messaging strategy that
uses content, events, and specific messaging through the entire sales process to find, capture,
and nurture leads more effectively. This results in better sales messaging and support
materials that are synced with the marketing campaign language and goals. Ultimately, this
should help conversion and retention rates throughout the entire sales cycle.
Sales should also use marketing as business analyst specialists who, by tying together
various data streams, can find the areas of greatest opportunity with different customers and
industries. Once marketers bring together that ecosystem of analysts, advisors, partners, and
influencers to identify the high-quality targets, they can help business development to create
a comprehensive strategy for systematically pursuing them.
The toughest part for marketing managers at times is getting invited to the business
development party to begin with. Stop waiting for that invite and start looking for ways you
can “show and tell” your value. Find any use-case outside of marketing’s defined realm
where you can demonstrate a measurable and visible result. The word will spread that you
can help other departments improve their performance if they leverage marketing’s expertise.
The long game for marketing is to try to redirect your organization to a marketing-first
approach. Marketing should contribute to targeting, business development, sales, and most
other functions as the main influencers and bridge to customers. A true marketing-first
organization views marketing as a key player in strategy development, lead generation, and
innovation. If none of that is in your job title today, consider to add it and make it your
mission to prove marketing’s full worth.
Does your marketing team partner with business development to increase revenue? Tell me
about your best practices in the comments.
The research design used to analyse the data in the study was “Descriptive Data Design”.
Descriptive research studies are those studies which are concerned with describing the
characteristics of a particular individual or a group. In this study, the information provided
by respondents has been analysed to study the consumption satisfaction level of products
provided by KAILASH CABLES.
3.2.1 Primary Data: New data gathered to help solve the problem at hand as compared to
secondary data which is previously gathered. An example is information gathered by a
questionnaire. Qualitative or Quantitative data that a newly collected in the course of
research, consists of original information that comes from people and includes information
gathered from surveys, focus groups, independent observations and test results. Data
gathered by the researcher in the act of conducting research. This is contrast to secondary
data which entails the use of data gathered by someone other than the research information
that is obtained directly from the first hand sources by means of surveys, observation or
experimentation.
Primary data is basically collected by getting questionnaires filled by the respondents.
3.2.2 Secondary Data: Information that already exists somewhere, have been collected for
another purpose. Sources include census reports trade publications and abstraction services.
There are two types of secondary data internal and external secondary data. Information
compiled inside or outside the organization for some purpose other than current investigation
researching information which has already been published? Market information compiled for
purposes other than the current research; it can be internal data, such as existing sales
tracking information or it can be research conducted by someone else such as a market
research company for the US government.
Secondary source of data used consists of books and websites.
‘WE AT KAILASH CABLES PVT. LTD. HAVE USED PRIMARY DATA FOR
RESEARCH METHODLOGY.’
Sample universe: The sample universe of the study was the costumers of KAILASH
CABLES.
Sample Frame: The group of units which forms the basis of sampling process is
known as sampling units and the list containing all sampling units is known as
sampling frame. The sample frame of the study was the customers of KAILASH
CABLES.
Sample Method: For sampling, a convenient sample method was adopted. This
sampling method involves purposive and deliberate selection of particular units of the
universe for constituting a sample, which represent universe. In other words, the
researcher selects the easiest population members from whom to obtain information.
The researcher uses his/her judgement to select population members who are good
prospects for accurate information.
Sample Unit: The elementary unit or the group or cluster of sample frame may form
the basis of sampling process, in which case they are called sampling units. Each
employee selected for the survey and to whom the questionnaire was distributed
forms the sample unit.
Sample Size: Size of the samples refers to the number of sampling units selected
from the universe for investigation. I have targeted 100 people in the age group above
25 years for the purpose of the research. The target population influences the sample
size. The target population represents the Delhi NCR regions. The people were from
different professional backgrounds.
CHAPTER-4
DATA AND ANALYSIS
25-30
31-40
41-50
50-65
Interpretation:
Out of 100 respondents, 26% were of age between 20-30 years, 40% were of age
between 31-40, 24% were of age between 41-50 years, 10% were of age between
51-65 years.
Male
Female
Others
Interpretation:
Out of 100 respondents , 70% are male and 30% are females.
YES NO
Interpretation:
Once
Twice
Thrice
Interpretation:
Out of 100 respondents, 40% buys once a month , 35% buys twice a month , 25%
buys thrice a month.
Q5. For how long you have been the customer of KAILASH
CABLES?
1-2 years
Interpretation: Out of 100 respondents, 23% are customers for less than 1 year ,
45% are customer of KAILASH CABLES for 1- 2 years , and 32% are customers
for more than 2 years.
Strongly 0 0
disagree
Disagree 8 8%
Neutral 18 18%
Agree 45 45%
Strongly agree 29 29%
Total 100 100%
Disaggre
Neutral
Agree
Strongly Agree
Interpretation:
Out of 100 respondents, 8% disagree with statement , 18% neutral, 45%
agree and 29% strongly agree that staff communicates in friendly
manner.
Q7. What is primary reason to purchase products from KAILASH
CABLES?
C D
Interpretation:
Out of 100 respondents , 24 % purchase because of reliability of
products ,28% purchase because of competitive pricing of products ,22%
purchase because of promising after sales service and 26% purchase
because of prominent brand image.
Q8. Does location of KAILASH CABLES is easily accessible?
Neutral
Agree
Stongly Agree
Interpretation:
Out of 100 respondents, 10% disagree that location is easily
accessible,25% neutral,35% agree and 30% strongly agree.
Neutral
Agree
Strongly Agree
Interpretation:
Out of 100 respondents, 8% disagree with the KAILASH CABLES
offers high quality products, 24% neutral,38% agree and 30% strongly
agrees.
Q10. Will you recommend KAILASH CABLES to others?
YES 74 74%
NO 8 8%
MAYBE 18 18%
TOTAL 100 100%
YES
NO
MAYBE
Interpretation:
Out of 100 respondents, 74% said YES that they will
recommend others about KAILASH CABLES, 8% said NO and
18% said MAYBE.
CHAPTER-5
FINDINGS
The maximum of people which are targeted for survey who buys products
from KAILASH CABLES are males.
The age group between 31 and 40 buys more product as compared to other
age groups.
There is slight difference between YES and NO that whether people have
heard before of KAILASH CABLES or not. As maximum have already
heard before about KAILASH CABLES.
Most of the people agrees’ that KAILASH CABLES offers high quality
products.
Maximum of people says that they will definitely recommend others about
KAILASH CABLES/.
CHAPTER-6
SUGGESTIONS AND
CONCLUSION
SUGGESTIONS
The company can come up with new more innovative ideas, schemes to
make it stand out of its competitors.
The company can work on promoting their brand more using social
media. So that more people become aware of the product.
More discounts can be offered to the public with low income to attract
them.
Measure all your marketing activities and improve all your efforts
based on performance results.
For all businesses, customers are their king and if these businesses want them
to trade with them persistently, these businesses need to build trust among the
existing and new customers. As we all know that first impression is the last
impression, business need to develop trust among its customer base in the
first go. Although it takes Time for every business to build trust among its
customers, a magnetizing and eternal first impression can attract customer to
such a point that it can lead to repeated trade with the business and develop
trust leading to brand loyalty towards the brand.
From the above discussion it can be easily concluded that in today’s market
competition, the businesses of any kind need to be more customer oriented
(4c’s of marketing) and less business oriented (4p’s of marketing) so as to
gain a formidable weapon i.e. trust so as to increase their brand loyalty which
can further lead to customer retention and satisfaction. Bearing in mind the
above implications, it evidently signifies that a happy customer will have
trust towards a brand which will create tremendous brand loyalty among the
customers.
BIBLIOGRAPHY/REFERENCES
1. Kotler, Philip. 2000. Marketing Management:
Millennium Edition. New Jersey: Prentice Hall
2. Burnett John. 2008. Core Concepts of Marketing.
Global Text Project 2008.
3. Elena Simakova, Daniel Neyland. 2008. “Marketing
Mobile Futures: Assembling Constituencies and
Creating Compelling Stories for an Emerging
Technology.” Marketing Theory 8(1):91–116.
4. Barksdale, Hiram C and Darden, William R. 1972.
“Consumer Attitudes Toward Marketing and
Consumerism” Journal of Marketing, 36: 28-35
5. Dr P. B. Singh, Dr Kama. K. Pandey. 2012. “Green
Marketing: Policies And Practices For Sustainable
Development.” Integral Review – A Journal of
Management 5(1):22–30.
6. Drucker Peter F. 1973. Management Tasks,
Responsibilities, Practices.
7. Chai Lee Goi 2009. “A Review of Marketing Mix :
4Ps or More ?”International Journal of Marketing
Studies 1(1):2–15.
ANNEXURE
Survey Questions
Instructions:
This survey is a part of research. All your data will be
kept anonymous. Please read the questions carefully
before answering.
NAME-
AGE-
GENDER - (A) Male
(B) Female
(C) Others