1

CHAPTER 1: INTRODUCTION
The power tools and accessories market is one of the most consistently profitable industries, sustaining momentum even in times of economic downturn. Product innovations are readily adopted into the mainstream and continued efforts are made by producers to improve efficiency of the tools to suit the preferences of different customers. Although the products are considered low-tech, the industry as such is highly automated, and employs state-of-the-art technology to produce high quality products. There is a growing demand for convenient, easy to use and more ergonomically designed hand tools. Tool manufacturers are expected to continue to target the growing consumer strata with newer marketing strategies. The power-driven hand tool sub-sector has evolved into a global industry. Manufacturers are producing tools at locations that yield the greatest efficiencies and largest profit margins while still providing labour sufficiently skilled to manufacture high-quality tools. The industrys products increasingly are being sourced from newly industrializing countries. Distribution channels, which long were confined to national borders, have become global as retail chains in the United States and Europe have established branches outside their domestic markets. Both domestically and abroad, home centres have captured an increased share of the power tool market from hardware stores and industrial distributors. Although the leading brand names have retained their identities and trade dress, mergers in the electric power tool sub-sector have altered the locus of capital control among the industry leaders. Japan-based suppliers have continued to expand their manufacturing capabilities in the United States.

1.1 Company Profile When we trace it all the way back, it comes down to three individuals: Frederick Stanley, Duncan Black, and Alonzo Decker. Three passionate individuals who built powerful companies that they were so proud they put their names on them. In 1843, Frederick Stanley started a small shop in New Britain, Connecticut, to manufacture bolts, hinges, and other hardware from wrought iron. With superior quality, consistent innovation, and rigorous operational improvement, Stanleys company defined excellence, and so did his products.

2 In 1910, S. Duncan Black and Alonzo G. Decker started their shop, similar in size at first, in Baltimore, Maryland. Six years later they changed the world by obtaining the worlds first patent for a portable power tool, and the company they built has been changing the world ever since. Both companies grew in parallel over the ensuing decades, amassing an unparalleled family of brands and products and an even more impressive wealth of industry expertise. In 2010, the two companies combined to form Stanley Black & Decker, to deliver the tools and solutions that industrial companies, professionals, and consumers count on to be successful when it really matters. The secret of this company's success is an open one -- all who will may avail themselves of it, and all who do so will succeed -- one word tells it all and that one word is Excellence The Stanley Fulfilment System (SFS), created to encompass and improve upon Stanley Black & Deckers long tradition of operations excellence, is the heart of the business operations. Its a continuous improvement program focused 100% on the needs of the customers and a comprehensive business system that guides the way of work every day. SFS is at once the blueprint for success and a roadmap for continued growth. Stanley Black & Decker provides the tools, solutions, and services that the world counts on when it really matters. The company build the tools that build and repair home and car, build the tools that build and repair the infrastructure, and provide the services and solutions that protect whats most valuable to the customers. Stanley Black & Decker, Inc. operates in three segments: Construction & DIY Industrial Security

3 DeWalt Power Tools: The Inside Story Today DeWalt Power Tools is the market share leader in power tool sales. That has not always been the case. DeWalt is a brand name that belongs to the Black and Decker Company. Black and Decker had purchased DeWalt back in 1960. Back then the original DeWalt Company made radial arm saws and not the wide variety of portable power tools we see today. In 1989 Black and Decker sold the radial arm saw manufacturing branch to two executives. At this time Black and Decker which was known as a low end "home owner" "non- professional" tool brand was trying desperately to sell to the contacting and industrial trades. While they may have had limited success with their Black and Decker industrial and professional branded tools they had just a small fraction of the professional tool market share which at that time was highly dominated by Makita Power Tools. So In 1992, Black & Decker started a major effort to rebrand its professional quality and high-end power tools to the DeWalt brand. They designed these new branded DeWalt tools a very eye catching yellow and embarked on an excellent brand building and marketing campaign. At this time the market leader was Makita Power Tools which is a company based in Japan with a manufacturing facility in Buford Georgia. Black and Decker filed suit with the US federal trade commission sighting that Makita and other Japanese power tool manufacturers were "dumping" product into the US power tool market. What did that mean? Well for simplicity sake that meant that if a foreign company such as Makita was selling a product for less in the US market than it did in its own home country. In 1994, DeWalt took over the German wood working power tool producer ELU. DeWalt increased their line of tools using ELU's technology. They continued to innovate with new products taking things that worked from companies like Makita, Milwaukee, Bosch and Porter Cable and marketed them better. They later went on to purchase the Emglo compressor company as well as Porter Cable Delta. Currently, DeWalt manufactures and sells more than 200 different power tools and 800 accessories.

4 1.2 Purpose of the Study: The study covers the business potential of DeWalt power tools especially Small Angle Grinders (SAG) and Large Angle Grinders (LAG) mainly in the Pune region. The study started with gaining knowledge about the industries in and around Pune and their needs and requirements vis--vis power tools. The study also includes understanding the various sales promotional activities of DeWalt power tools and brand promotion by educating the people involved in fabrication industry in Pune region. Identify barriers to DeWalt power tools section of Stanley Black & Decker India and do a SWOT analysis based on the survey. Interviewing workers in various fabrication industries so as to gather a detailed insight about: Type of customers. Their potential in the fabrication works. Typical application performed by these customers Various brands of power tools used by these customers. Rating those brands according to differentiation parameters. Customer expectations.

1.3 Context of the Study: All aspects of the marketing activities like making daily visits to different manufacturing units and interviewing the workers to understand the customer needs and their potential were part of the context of the study. Moreover analysing the different barriers faced by the company in terms of sales and comparison of different brands of power tools was also an essence of this study. 1.4 Significance of the Study: The research was quite significant as it provides a comprehensive review of the power tools market, impact of economic recession on the market, current market trends, major growth drivers, recent industry activity, and profile of major/niche global as well as regional market players. It is through this that I could reap exhaustive and profound knowledge about the

5 esteemed power tools market and its customers. With the help of the detailed study of the power tools market I was able to get the in-depth knowledge to understand the potential customers for a power tool supplier in a commercial project and map the existing customer perception of various suppliers available in the market considered, existing competitors, types of customers, their work potential, applications they perform mainly utility fixtures, to perform those applications various types and brand of power tools they use. This project also involves looking into what customer expects more from the existing products and services provided by various power tool firms.

CHAPTER 2: LITERATURE REVIEW

Worldwide demand for power tools is projected to increase nearly six Percent per annum to $27.3 billion in 2015. Gains will exceed the 1997-2002 paces because of accelerating global economic growth, which will simulate construction and consumer spending activity, two major determinants of power tool demand. Advances will also benefit from the rising demand for cordless models, which offer convenience advantages over traditional plug-in tools. The most rapid growth in power tool demand is forecast for the developing areas of Asia/ Pacific, Latin America, Eastern Europe and Africa/ Mideast. Increasing industrialization in these regions will lead to infrastructure building projects as well as rising living standards that will benefit demand. While these factors will support growth in the developing nations of the Asia/ Pacific region, the region also derives a large share of demand form the mature economy of Japan, where gains for power tools are projected to lag the global average. Hundreds of companies manufacture power tools throughout the world, although a few large corporate entities based primarily in North America, Western Europe and Japan hold significant market share. The top four power tools producers are- Stanley Black & Decker, Bosch, Makita and Atlas Copco-accounted for nearly 27 percent of the global market in 2002. Faced with intense competition, leading producers will continue consolidating operations as a means of improving efficiency. The report titled "Outdoor Appliances & Power Tools: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, product overview, factors influencing the market, product introductions/innovations, and recent industry activity. The study also analyses market data and analytics in volume sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America for the period 2000-2015. Demand for power tools is expected to surpass hand tools due to increasing popularity of cordless electric saws, polishers, grinders and sanders. Electric screwdrivers are expected to witness robust growth, and electric saws and drills are projected to record above-average growth figures. Increasing consumer shift towards do-it-yourself (DIY) products and emphasis on feature-laden tools would boost the consumer tools market, which is expected to surpass the professional tools market. Hand tools are increasingly giving way to electrically

7 and machine driven tools, owing to high-speed production process. Global hand tools market in the Asia Pacific and Latin American regions is expected to witness higher growth rates through 2015. Indonesia is considered an important market for power and hand tools, while Germany is one of the largest exporters of precision tools including hand tools, power tools, grinding tools and others, followed by Japan, US, Asia-Pacific and France. Key players dominating the power tools market include Alamo Group, Black & Decker, Blount International, Bosch Lawn and Garden, Briggs & Stratton, Coleman Company, Deere & Company, Husqvarna AB, Jarden Corporation, Makita, McCulloch Motors, MTD Products, Techtronic Industries and The Toro Company. The Indian Power Tool Industry The power tools market in India is worth Rs 300 crore and is growing at around 12 percent per year. The power tools market is driven by the professional range and DIY range, with DIY tools consumption delivering higher relative growth. Global demand for power tools is expected to rise nearly six Percent yearly through 2015, driven by accelerating economic activity and rising demand for cordless tools. Demand will benefit from infrastructure building projects and rising living standards in developing regions and the rapid development of Asian economies such as China and India. Despite significant industrialization over the past two decades or so, Indias economy remains highly oriented towards agriculture, which contributes about one-quarter to GDP but absorbs at least 60% of the labour force. Major manufacturing industries include chemicals, textiles, steel, processed foods, consumer appliances and motor vehicles. A computer software industry of some significance has emerged in the country in recent years as well. With the overall economic growth, increased number of investments in infrastructure and modernising construction practices, the Indian power tool industry is intend to grow. (Gross Andrew C, Business Economics, July 2006)

India: Supply & Demand

8 India comprised a 125$ million market for power tools in 2002. Although demand is actually quite low in per capita terms and lags most other countries as a share of GDP and fixed investment, it has been among the fastest growing in the region since 1992. Advances have resulted from the advent of economic reforms in the early 1990s in tandem with expansion of the countrys manufacturing sectors. Despite growth, household penetration of power tools is extremely small, a function of the high degree of poverty characterising vast segments of the population. Moreover, although India is home to several large cities (e.g. New Delhi, Mumbai) over 70% of the population continued to live in rural areas in 2002, a further drag on potential development of power tools markets in the country. Spotty electricity distribution and fairly low standards of living in many areas of India work to restrain demand in residential applications. Despite these factors, power tools demand in India is supported by the sheer size of the country as well as by on-going effort to develop its infrastructure. Shipment of power tools from facilities located in India were $175 million in 2002. Gains have exceeded the regional average in the past decade, due to both rising domestic demand and export opportunities. Despite its trade surplus, India imports in its own right from Japan, the US and the major European producing nations. Among the producers with manufacturing capacity in India are Atlas copco and Stanley Black & Decker. The country is also home base for Kulkarni power tools popularly known as KPT, a manufacturer of rotary drills, impact drills, angle grinders, straight grinders, cutters and jigsaws. Major sources of power tools include japan, China, South Korea, Western Europe (especially Germany, France and the UK) and the US. Demand for power tools in India is forecast to rise twelve Percent per year through 2007 to $220 million, exceeding the Asia/Pacific regional forecast average pace.

CHAPTER 3: RESEARCH METHODOLOGY

9 3.1 Introduction The projected was executed in such a way that it is complete to the maximum extent covering all the aspects and thus arriving at a suitable conclusion to meet the objective of the project. Few recommendations were also suggested to the company, which can help the organization to grow further and penetrate faster into the new markets.

3.2 Population and Sampling The study was conducted covering the major industrial regions in Pune. The reach of the project consisted of various industries and dealers located in these above mentioned areas. 40 customers were randomly chosen for the study. The sample size was selected using the simple random sampling technique. 3.3 Research Approaches Approaching Customers/Industries: Getting permission into an industry completed almost 50% of the job as it gave the platform to know about their operations. Getting the details of the persons as many as possible in the industry Spent maximum time in the industry, to know what is their work environment i.e., whether they are using quality products, how much of their operations are being done by contractors, what is their hand tools purchase quantity and frequency of purchase, etc. Also tried to find out how the process of purchase takes place, which might be different for different departments. 3.4 Research Instruments The research instrument was both qualitative and quantitative and hence consisted of personal Interviews, which were guided by self-prepared Questionnaires. Each of the questionnaire consisted of 16 questions on an average. The questions were both open ended and closed ended. The closed ended questions were a diverse type consisting of single choices, multiple choices, likert scales and rating scales. 3.5 Research Design A Research Design is a frame work or blue print for conducting the marketing research project. It details the procedures necessary for obtaining the information needed to structure

10 or solve marketing research problem. Although a broad approach to the problem has already been developed, the research design specifies the details the nuts and bolts of implementing the approach. For this purpose printed questionnaires were used to describe the characteristics of relevant groups, such as consumers, sales people, organizations or market areas. The research can be viewed from the following parameters: a) The research is exploratory in nature. Explorative studies valuable means of finding out what is happening to seek new insights to ask questions and to access phenomenon in a new light. Exploratory research was used for the following purposes: Formulate a problem or define a problem more precisely. Identify alternative course of action. Isolate key variables and relationships for further examination. Gain insight for developing an approach to the problem. Establish priorities for further research.

b) The research is also descriptive in nature. Descriptive study is an extension of exploratory study. As the name implies, the major objective of descriptive research is to describe something usually market characteristics or functions. Research was done to find out Market feasibility of Small Angle Grinders(SAGs) and Large Angle Grinders(LAGs), so that we can make strategies to establish our products in the market in a better way, providing more awareness and place the product properly as well as promote the brand and emerge as a competition in the market.

3.6 Collection of Data and Analysis: Primary Data:

11 The first-hand information bearing on any research is the one which has been collected by the researcher. The data here is collected through: A structured questionnaire. Personal interview of both customers and end-users.

Secondary Data: The data which has already been collected, complied and presented earlier by any agency may be used for purpose of investigation. The data collected through: Various publications in form of annual reports, various papers and journals published from time to time. Through internet and Books.

Various Pie-charts and bar-graphs are made to have an easy and quick understanding of the study conducted. Initially all the questionnaires were analyzed individually, and then finally an overall comparison of the various responses from all the dealers was done and analyzed.

CHAPTER 4: DATA ANALYSIS AND INTERPRETATION

12 Data analysis is the crucial part of any research project. Data is analyzed after collecting the data through rigorous fieldwork. Now is the time to look at the findings that have been generated out of this data. There were in all thirty seven questions included in the questionnaire. Questionnaire was the combination of questions based on likert scaling technique, dichotomous questions, and open ended questions. All the questions were carefully written and designed into the variable view of the spss software. 4.1 Estimation of Market Potential Estimation of market potential of power tools in Pune region is done by asking the respondents the amount they spend on the purchase of power tools annually. For this purpose, the following Chi-Square Analysis is done: Null Hypothesis: Ho: There is low market potential of power tools in Pune region. Alternate Hypothesis: H1: There is high market potential of power tools in Pune region. Hypothesis Testing: To test the above hypothesis, chi square is done as shown in the following table:
What is the amount of power tools in your total purchases? Observed N below 50000 50000-1 lakh 1lakh-2 lakhs 2 lakhs-5 lakhs above 5 lakhs Total 4 8 17 5 3 37 Expected N 7.4 7.4 7.4 7.4 7.4 Residual -3.4 .6 9.6 -2.4 -4.4

Table 4.1-Chi-square analysis of purchase of power tools in the market

Test Statistics What is the amount of power tools in our total purchases?

13

Chi-square Df Asymp. Sig.

17.459a 4 .002

a. 0 cells (.0%) have expected frequencies less than 5. The minimum expected cell frequency is 7.4.

Table 4.2- Test statistics showing the chi-square value. Interpretation- The test compares the response of the customers on how much they spend annually on the purchase of power tools. From the above table, it is observed that the calculated chi-square value is 17.459. Degree of freedom (DOF) is (5-1)*(2-1) = 4 and level of significance is 0.05. From the above values, the critical value of the chi- square is 9.49. Hence it is found that the calculated value is greater than the critical value. Therefore the null hypothesis is rejected. Thus it is observed from the analysis that there is very high market potential of power tools in Pune region.

Cross-Tabulation Analysis Cross Tabulation gives us the ability to compare two questions to each other and evaluate relationships between the responses of those questions. We can review the frequency and assess the statistical significance in that relationship. Cross tabulation is particularly useful when we want to assess whether there is a relationship between how our entire respondent base, or a specific subset of respondents, answered two questions. Here cross-tabulation is done between the amount of purchase done annually and the amount of power tools in the total purchases.

What is the amount of purchase done annually? * What is the amount of power tools in your total purchases? Cross tabulation Count What is the amount of power tools in your total Tot purchases? al

14 below 50000 What is the amount of purchase done annually? 1 lakh-2 lakhs 2 lakhs5 lakhs above 5 lakhs 10 0 1 11 500001 lakh 0 10 1 11 1lakh2 lakhs 0 5 4 9 2 lakhs-5 lakhs 0 0 3 3 above 5 lakhs 0 0 3 3 10 15 12 37

Total tools in total purchase

Table 4.3- Cross tabulation between amount of purchase done annually and amount of power

Figure 4.1- Cross tabulation between amount of purchase done annually and amount of power tools in total purchase

Interpretation: Here a cross tabulation analysis is done between the amount of purchase done annually and the amount of power tools in their total purchases. From the above graph it is found that the customers who spend between 1-2 lakhs on the purchase annually spend less than 50,000 on the purchase of power tools. The customers who spend between 2-5 lakhs on their purchase annually, spend around 50,000- 1 lakh on the purchase of power tools and the

15 customers who spend above 5 lakhs on their total purchase mostly spend around 1-2 lakhs on the purchase of power tools.

ONE- WAY ANOVA ANALYSIS ANOVA is essentially a procedure for testing the difference among the different groups of data for homogeneity. The essence of ANOVA is that the total amount of variation in a set of data is broken down into two types that can be attributed to chance and that amount which can be attributed to specified causes. In this research, One Way ANOVA has been adopted as technique for data analysis. One-way Anova analysis is used here to test the power tools of five main brands in the market i.e. Bosch, DeWalt, KPT, Hitachi, and Hilti on the basis of how frequently the power tools of the following companies are bought.

ANOVA Analysis

16

Which company Between power tools do you Groups use?(Bosch) Within Groups Total Which company Between power tools do you Groups use?(Dewalt) Within Groups Total Which company Between power tools do you Groups use?(KPT) Within Groups Total Which company Between power tools do you Groups use?(Hitachi) Within Groups Total Which company Between power tools do you Groups use?(Hilti) Within Groups Total Which company Between power tools do you Groups use?(Others Within Groups Total

Sum of Squares 1.243 5.625 6.868 1.009 3.333 4.342 .240 8.603 8.842 1.513 5.856 7.368 .015 .958 .974 .239 7.577 7.816

df 2 35 37 2 35 37 2 35 37 2 35 37 2 35 37 2 35 37

Mean Square .622 .161

F 3.868

Sig. .030

.504 .095

5.296

.010

.120 .246

.487

.618

.756 .167

4.521

.018

.008 .027

.280

.757

.119 .216

.552

.581

Table 4.4-Anova determining the confidence level of different power tools brands.

Interpretation: The above table shows the output of the ANOVA analysis and whether there is a statistically significant difference between the usages of the power tools of five main brands i.e. Bosch, DeWalt, KPT, Hitachi and Hilti. It can be seen that the significance level

17

for Bosch power tools is .030 (P= .030) which is below 0.05, and therefore there is a statistically significant difference in the usage of the Bosch power tools. Similarly, we can see from the above table that there is a significant difference in the other power tools brands as in case of DeWalt i.e. 0.010 and Hitachi i.e. 0.018. The test above reveals that the DeWalt power tools are most frequently bought in the market followed by Hitachi and Bosch power tools.

4.2 SWOT ANALYSIS STRENGTHS WEAKNESS

18

PERFORMANCE GOOD BRAND IMAGE IN COMMERCIAL SEGMENT DIRECT CUSTOMER RELATIONSHIP

PERCIEVED AS AN EXPENSIVE BRAND LACK OF UNIQUE SERVICE FEATURES SERVICE NETWORK AWARENESS

ONE STOP SOLUTION AVAILIABILITY PRODUCT INNOVATION SKILLS LOW PENETRATION COMMUNICATION GAP THREAT ENTRY OF LOWER-COST COMPETITORS AVAILIABILITY OF NUMBER OF BRANDS WORK BEING SUBCONTRACTED PRICE SENSITIVE MARKET COMPETITION HAS A WIDE DISTRIBUTION NETWORK COMPETITORS HAVING ESTABLSIHED CUSTOMER RELATIONSHIP WITH MOST OF THE POTENTIAL CUSTOMERS.

OPPORTUNITY RESIDENTIAL SEGMENT HOSPITAL SEGMENT DEVELOP NEW PRODUCT LINES

CHAPTER 5: CONCLUSION AND RECOMMENDATIONS

19 5.1 Summary of Findings: Due to the rapid growth of the Indian economy, from brick and mortar to heavy machineries, every sector is enjoying with this eventful success rate of our economy. The construction sector in India is registering an average growth of 15.61%. The power tools industry in India is booming with the consistent growth in the construction industry thus reporting an average growth of 12%(Y-O-Y) and DeWalt is nowhere out of track, with big projects in its hands and vast resources, it aims to become Indias number one power tools company. It is concluded from the survey report that a product is differentiated according to the customers expectation which is based on following factors:1. Performance: - In terms of performance, customer expects a machine to deliver high productivity, smooth running, reliable, rugged and a long efficient work life. 2. Price: - For a customer price means value for money. Based on this, a customer can be classified into any one of the following three groups: Good Quality: - A customer who purchases tools of high quality is ready to pay a premium price in order to get a tool of high performance with satisfactory after sales service. Good Quality at a Competitive Price: - A customer who wants a good quality tool at a competitive price has price as one of the comparing factors among the various brands of power tools at the point of purchase. Price is the only factor: - Such type of customer perceives price as the key issue at the point of purchase. 3. Brand: - In the current scenario of the Indian Power tool, brand is not considered as one of the key factors when it comes to ownership of power tools. Sense of ownership for a customer who purchases power tools is low as ultimately the tool will be handled by a worker which is evident from the survey. Involvement of customer in power tool is perceived at two phases: Either at the point of purchase or when tool breaks down.

20 4. Relationship: - It is understood that once the customer has a good first time experience on purchase of power tools with his supplier, he will continue purchasing power tools from the same supplier. 5. Repair Cost: - A customer expects low repair costs form the tool so that the overall cost i.e. the price of the tool and the maintenance cost is up to the satisfaction of the customer. 6. Availability: - A customer expects the tool to be easily available at the closest location near the site. 7. Turnaround Time: - If as tool breaks down, a customer expects the tool to be repaired in a minimum possible time frame so that the job performed by that power tool can be finished within the time frame allotted to that job. It is concluded from the analysis that DeWalt power tools deliver High Performance Faster turnaround time Requires less repairs

5.2 Recommendations: Based on my experience and research conducted, I have identified that the major issue concerning us is that the brand DeWalt of Stanley Black & Decker is not as visible in the industry as compared to our competitors. I have the following recommendations which I have divided as short term and long term implementation to face the current situation. 5.2.1 Communication Channel External Communication: - Clarity of Communication between the sales team and the customer. From the customer point of view , a customer expects value for money and according to the survey, customers perceive DeWalt as a expensive brand but if the sales team can make customer to look at the bigger picture that the total cost of the tool ( cost of purchase + cost of maintenance+ convenience and various other service benefits combined with the strong commitment of providing a dedicated service) is more beneficial than what the other brands provide, naturally DeWalt will be widely

21 accepted and will have a more stronger base and deeper penetration in the Indian power tool market. Internal Communication:- The marketing team has to communicate clearly with the sales team by conducting workshops and various training sessions so as to upgrade sales team about the tool vs tool comparison, competitor information and providing a manual which can consist of how a TS can make a right approach, a clarity of unified message from the marketing team to TS being the medium of channel to end users so that there is clarity in communication which will eventually generate a thought process in the mind of technical support team and TS can make a customer to understand the bigger picture without leaving any doubts in the mind of the end user. PR activities like billboards, banners of any new product launches and pamphlets so as to keep the customer update about the existing product and services and also about any updates about new products and services initiatives.

5.2.2 Services:Unique Service Features like: On site repair- A repair van which can go to those construction sites where the tools has been purchased and check the performance of the tool, repair minor defects if any, ask the customer whether he is satisfied with the purchase and if not what does he more expects from the present service benefits. A tool van which can go to various construction sites and cater to basic needs of customer like purchasing of grinding wheels, drill bits or even purchasing power tools which will ensure a stronger presence and presence in the market.

5.2.3 New Product Line

Customers who make a purchase of power tools based on quality is already been catered by

22 DeWalt products which are positioned premium to those of the competitor products thus DeWalt is catering to a niche segment of the whole power tool market. So as to have deeper roots and a stronger hold in the power tool market, Stanley Black & Decker can start another brand which has products being positioned competitively to those of the competitors so as to cater that segment of customers who want to have good quality machines at a competitive price, these products though having low margins will generate sales of larger volumes which will generate more cash flow and thus Stanley Black & Decker can increase its customer base and have a larger share of the pie.

5.3 Limitations in the Study No research would be a fool proof, 100% error free with the time/ money constraints and within the limited resources. My research study was no exception. I too had my own set of problems in terms of price, availability and with the fact that I was a first timer in this field The first limitation could be the fact that Expert opinion. Depth interview and all the Descriptive study were conducted on a sample size of 40+. Though these techniques were conducted to unearth it still could be limited. The sample taken for creating the model included people from various industries in Pune. So the findings cannot be judged as representations of entire population of customers throughout the country. The conclusions made are based on the data collected from the sample size. So the conclusion are based how truthfully the people entered the data. These were some of the limitations identified during the course of my research.

REFERENCES

Best W. John, K. V. (IX Edition). Research In Education. Prentice Hall of India Pvt. Ltd.

23 Brown, D. (n.d.). Hand Tools News. Inside Woodworking. Deneen, M. A. (July 2006). Global Industry Analysis- Power Tools. Business Economics, The National Association for Business Economists , Source volume:41, Source Issue:3, PP: 71-73. Foxall, G. R. (n.d.). Consumer Behaviour Analysis (Critical Perspectives on Business And Management). Routeldge Publishers. Gross, A. C. (July 1, 2006). The Global Market for Power Tools. Business Economics. Malhotra, N. (2008). Marketing Research. Prentice Hall Edition.

APPENDICES
Appendix A-Questionnaire Objective: We would like to know your views and opinion on DeWalt power tools, especially SAGs and LAGs, as part of our survey.

24 1) Type of Industry: 1. Fabrication 2. Engineering Works 3. Automation 4. Construction 5. Others (please specify)..

2) Which type of tools do you use in your industry? 1. Power tools 2. Hand tools 3. Machine Tools 4. Others

3) What is the amount of purchase done annually? 1. Below 1 lakh 2. 1 lakh- 2 lakhs 3. 2 lakhs-5 lakhs 4. Above 5 lakhs

4) What is the amount of power tools in your total purchases? 1. Below 50,000 2. 50,000-1 lakh 3. 1 lakh-2lakhs 4. 2 lakhs-5 lakhs 5. Above 5 lakhs

5) How often do you buy power tools:

25 1. Less than 3 months 2. 3-6 months 3. 6-9 months 4. 9-12 months 5. More than a year

6) Are you aware of Dewalt power tools products: 1. Yes 2. No 7) Which company power tools do you use? 1. Bosch 2. Dewalt 3. KPT 4. Hitachi 5. Hilti 6. Others

8) Name few power tools which you frequently use: 1. Small Angle Grinders (SAG) 2. Large Angle Grinders (LAG) 3. Chop Saws 4. Hammers 5. Others (please specify)

9) Please specify the product model of power tools being used: 1. DW 801- 4 grinder 2. DW 871- 14 Chop Saw

26 3. P 57-91 Cobra- 7 KPT grinder 4. GWS 24-180- 7 Bosch grinder 5. Others (please specify).

10) How do you rate the existing power tools on the basis of following parameters:

Parameters

(Very poor) 1

(Poor) 2

(Average) 3

(Good) 4

(Excellent) 5

Quality Durability Ease of use Price Worthy Availability Maintenance Reliability Performance Ergonomically Design

11) Rate your satisfaction level on your existing power tools:

(Completely dissatisfied) 1

(Mostly dissatisfied) 2

(Somewhat dissatisfied) 3

(Neither satisfied or dissatisfied) 4

(Somewhat satisfied) 5

(Mostly satisfied) 6

(Completely satisfied) 7

12) How do you find out information about power tools? 1. General Newspapers 2. Specialist magazines 3. In local outlet 4. From friends or colleagues 5. From sales representatives 6. From special exhibitions or seminars 7. Others (please specify)..

27 13) Has any Dewalt salesman ever visited your company? 1. Yes 2. No

14) Are all your queries and doubts be satisfied when a Dewalt salesman visits you? 1. Yes 2. No

15) Do you think the content and level of details presented by them is adequate? 1. Yes 2. No

16) If no, then suggest measures for improvement: .

Personal Details:

Company Name:

Address:

Phone No:

Email id:

Name of individual participating in the Survey..

28 Designation: ..

Thank you

Appendix B-Key Indicators for power tools demand in India The following table depicts the key indicators for power tools demand in India:TABLE INDIA: KEY INDICATOR FOR POWER TOOLS DEMAND

Item

1992

1997

2002

2007

2012

Population (million) GDP per capita Gross domestic product (bil 98 US $) Gross Fixed Investment (bil 98 US$) $ Power tools/ mil $ GFI Other indicators: Urban Population(million) Motor Vehicle Park(mil units) $ Power tools/capita $ Power tools/mil $ GDP Power tools demand (mil US $)

875 1450 1265 278.8 143

957 1800 1722 385.0 195

1036 2160 2235 505.0 248

1110 2670 2960 687.0 320

1183 3320 3925 948.0 338

227.6 5.2 neg 32 40

262.7 7.2 0.1 44 75

303.0 8.8 0.1 56 125

350 12.0 0.2 74 220

405.0 16.0 0.3 82 320

Source: The Feedonia Group, Inc

29 Table 4.5- Key indicators for power tools demand in India