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MARKETING STRATEGY FOR LAUNCHING YUVRAJ 215 IN RURAL AREAS AND CUSTOMERS FEEDBACK
INDEX
EXECUTIVE SUMMARY .(3-5) INTRODUCTION .(6-9) INDUSTRY PROFILE .(10-13) PRODUCT PROFILE ..(14-18) LITERATURE SURVEY/REVIEW.(19-21) STATEMENT OF RESEARCH PROBLEM .(22-24) RESEARCH METHODOLOGY (25-31) MAHINDRAS GLORIOUS PAST. (32-33) DATA ANALYSIS AND INTERPRETATION (34-47) OBSERVATION AND FINDINGS (48-49) CONCLUSIONS ..(50-51) RECOMMENDATIONS .(52-53) Bibliography .(54-55) Annexure(56-57)
CHAPTER 1
Executive Summary
1. EXECUTIVE SUMMARY
The origins of M&M's Farm Equipment Sector lie in the formation of a joint venture in 1963 between the Company, International Harvester Inc., and Voltas Limited, christened the International Tractor Company of India (ITCI). M&M's Farm Equipment Sector is the largest manufacturer of tractors in India with sustained market leadership of over 27 years. Mahindra & Mahindra (M&M), the market leader for the first time launched 15hp tractor Yuvraj 215 it was launched in Pune, with good response in Gujarat, company look forward to get response in Vidharbha. Yuvraj 215 is specially made for Orchard application and Amravati is the region in Vidharbha wherein good yield of oranges is recorded. Yuvraj 215 has given opportunity to farmers to get more yield with its special features. Not only for Orchard but also for the farmers holding small piece of land can own this tractor with economic price and improve its productivity. Yuvraj 215 though a 15 hp tractor had performed very well with its implements and some application which is useful to farmers they are:1. Rotavator 2. Cultivator 3. Thresher 4. Spraying 5. Generator
Objectives
1. To understand the requirement and increase the sales of Yuvraj 215 compared with previous month. 2. Tracking competitors product and analyzing demand for our product. 3. Meeting customer as per data base and check the customers satisfaction level.
Research Methodology
To get feedback from customers and know how well our product is performing exploratory research and Descriptive research was used in the project.
Findings Drawn
Yuvraj 215 with its features and implements is performing very well, findings drawn were 1. Farmers want practical demonstration of implements. 2. Farmers are in need of some technical knowledge. 3. Some technical problems with product Yuvraj 215 are Gear Axle Good quality of metal is not used.
Conclusion
The company is offering good services, which is reflected on the satisfaction of the customer. Majority of the customer are satisfied with the performance of the Mahindra Tractor. Mahindra has a very good market share in the state of (M.H.). Customers are happy with launching of Yuvraj 215 in Vidharbha
Recommendation
Customers meet to share usage of various implements and also some technical knowledge. Manpower must be increased at our Dealer place for servicing. There must not be communication gap between customer and Dealer that what we offer with our product and in servicing, to have good relation with customers.
CHAPTER 2
INTRODUC TIO N
2. INTRODUCTION
ABOUT TITLE This project reveals launching of new product after product research and demand for the new product it is another important task for the organization in the cut throat competition, strategic marketing plan plays an important role for the success of new product. Competitors product are in the market with new technology and price so it is necessary for the organization to launch their new product in targeted market with some additional benefits and features as compare to other product, and also finding new customers by creating new need for the product. It is not an easy task for the organization to bring their new product from the Introduction stage to the Growth stage, and on the other hand to make the product up to the satisfaction level of customers. Organization need to clearly define why consumer should buy their product and what additional benefits to their product are. This project is also done to know the customers satisfaction for the YUVRAJ-215. The impact of automobile industry on the rest of the economy has been so pervasive and momentous that is characterized as second industrial. It played a vital role in helping the nation to produce higher value good and services and in the enhancing their skills and impose tremendous demand for automobile. The decrease in the Farmer interest rate and easy available of loans has helped Farmers to progress in their yield. To gain the market share it is important for the institutes to satisfy its customers and to retain the reputation and its image.
Developing a Product Marketing Strategy is one of the most challenging and exciting aspects of product marketing and launching a new product. The marketing professional should begin by writing a working outline of his market plan to help organize the study, gather information, and organize the presentation.
4) Competitors What are they doing now? Where do competitors advertise, and how often? What is their sales pitch? How do competitors price? How do they distribute? How do competitors position themselves? How do competitors react to threats? How do successful competitors differ from the lesser? What are their market shares? Compare competitors to your organization in terms of your: Strengths Weaknesses Opportunities Threats 5) Product Position Differentiate your product and your service. Find the opportunity. Its out there. What we see is, actually, a matter of perception. What your customer sees is, also, a matter of perception -- his perception. Understand your customer's needs. Describe your products. Describe your customer's pain.
CHAPTER 3
COMPANY PROFILE
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It made its entry to the passenger car segment in India, with the manufacture of Logan (mid-size sedan) in April 2007, under the Mahindra Renault collaboration. Soon after the considerable success of Logan, M&M started launching a wide range of LCVs and three wheelers as well as SUVs including Scorpio and Bolero. In the present time, Bolero has gained immense popularity in India. It is one of the most opted vehicles in its class. Few groups can identify as closely with India's destiny and industrial progress as the Mahindra Group. In fact, Mahindra is like a microcosm of India. Both were born around the same time, had the same aspirations and both experienced the inevitable troughs and crests in the journey towards their goals. And both continue to march on the path to progress and global recognition Swift action followed this thought. The Mahindra brothers joined hands with a distinguished gentleman called Ghulam Mohammed & on October 2nd, 1945, Mahindra & Mohammed was set up as a franchise for assembling Jeeps from Willys, USA Two years later, India became an independent nation and Mahindra & Mohammed changed its name to Mahindra & Mahindra. Ghulam Mohammed migrated to Pakistan post-partition and became the first Finance Minister of Pakistan. Since then, Mahindra & Mahindra has grown steadily in size and stature and evolved into a Group that occupies a premier position in almost all key sectors of the economy. The Group's history is studded with milestones. Each one taking the Group forward. In fact, today, its total turnover is about 6.3 billion dollars.
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Yuvraj 265 DI Sarpanch Arjun 445 DI 275 DI TU Sarpanch 275 DI TU Bhoomiputra Arjun 555 DI 2Arjun 605 DI 575 DI - Sarpanch Rigid Tine Cultivator Mounted Offset Disk Harrow Spring Loaded Tiller Mounted Disc Plough Leveller
265 DI Bhoomiputra
Tractors Above 40 HP
Farm Implements
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CHAPTER 4
PRODUCT PROFILE
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4. PRODUCT PROFILE:
PRODUCTS OF MAHINDRA AUTOMOTIVE MAHINDRA ARJUN ARJUN 605 ARJUN 555 ARJUN 445 MAHINDRA BHUMIPUTRA MAHINDRA SARPANCH Sarpanch 575 Sarpanch 475
Sarpanch 275
NBP 575
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YUVRAJ 215
Tractor Specification
Engine
15 Hp, Single cylinder water cooled Rated RPM : 2300 Max. Torque : 5.5 kgm @1400 rpm Backup Torque : 10-12% SFC: 175 +/- 2.5% gm/hp-hr
Transmission
Sliding Mesh, 6 F + 3 R speeds True side shift Max. Speed : 25.68 kmph. PTO HP : 12.5 (rear mounted) PTO RPM : 540 @ Rated engine
Dimensions
Length Wheel Base Track Width (front) Track width (Rear) Operating Wt : : : : : 2400mm 1485mm 904mm 1003 800 +/- 50 kgs 16
No OPERATION PERFORMED 1. Dry tilling & Puddling w/Rotavator 2. Cultivation with cultivator 3. Ploughing 4. Inter-culture in row crops 5. Operations in Grape vine-yards 6. Orchard application 7. Operations in vegetable fields 8. Operations in small field pans 9. Operation in loose sandy loam soils 1 Applications in town municipalities 0. 1 Puddling with cage full wheels 1.
YES P P P P P P P P P P
NO P P P P P
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No 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 . 11 .
Application Rotavator Puddling Cultivation Ploughing Haulage Sowing Spraying Reaping Leveling Furrowing
Implement/Attachment 0.8 Mtr Rotavator 0.8 Mtr Rotavator with half cage wheel 5-Tyne cultivator Double bottom MB plough 2 wheel single axle trailor Seed Drill Sprayer with trailed tank Front mounted Comb Reaper Leveler Furrower
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CHAPTER 5
SURVEY REVIEW
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Research study has seen a gradual need for small hp tractor in Vidharbha and it has launched for the first time in Amravati with some following factors 1. Yuvraj 215 is specially made for Orchard application, as Amravati region gives high yield in Oranges. 2. As compare to other region in Vidharbha Amravati District has good quality of soil. 3. With capability of 15 hp Yuvraj 215 gives good result in irrigation land.
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CHAPTER 6
RESEARCH PROBLEM
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CHAPTER 7
RESEARCH METHODOLOGY
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7. RESEARCH METHODOLOGY:
RESEARCH METHODOLOGY A research process consists of stages or steps that guide the project from its conception through the final analysis, recommendations and ultimate actions. The research process provides a systematic, planned approach to the research project and ensures that all aspects of the research project are consistent with each other. Research studies evolve through a series of steps, each representing the answer to a key question. INTRODUCTION This chapter aims to understand the research methodology establishing a framework of evaluation and revaluation of primary and secondary research. The techniques and concepts used during primary research in order to arrive at findings; which are also dealt with and lead to a logical deduction towards the analysis and results.
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RESEARCH DESIGN We propose to first conduct a intensive secondary research to understand the full impact and implication of the industry, to review and critique the industry norms and reports, on which certain issues shall be selected, which I feel remain unanswered or liable to change, this shall be further taken up in the next stage of exploratory research. This stage shall help me to restrict and select only the important question and issue, which inhabit growth and segmentation in the industry. The various tasks that have been undertaken in the research design process are : Defining the information need Design the exploratory, descriptive and causal research
RESEARCH PROCESS The research process has four distinct yet interrelated steps for research analysis It has a logical and hierarchical ordering: Determination of information research problem. Development of appropriate research design. Execution of research design. Communication of results. Each step is viewed as a separate process that includes a combination of task , step and specific procedure. The steps undertake are logical, objective, systematic, reliable, valid, impersonal and ongoing. 28
EXPLORATORY RESEARCH
The method used for exploratory research was 1. Primary Data 2. Secondary Data
PRIMARY DATA New data gathered to help solve the problem at hand. As compared to secondary data which is previously gathered data. An example is information gathered by a questionnaire. Qualitative or Quantitative data that are 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 contrasted to secondary data, which entails the use of data gathered by someone other than the researcher information that is obtained directly from first-hand sources by means of surveys, observation or experimentation. Primary data is basically collected by getting questionnaire filled by the respondents.
SECONDARY DATA Information that already exists somewhere, having been collected for another purpose. Sources include Dealership & Sales Persons. There are two types of secondary data: internal and external secondary data. Information compiled inside or outside the organization for some purpose other than the current investigation Researching 29
information, which has already been published? Market information compiled for purposes other than the current research effort; 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.
Secondary source of data used consists of books and websites My proposal is to first conduct a intensive secondary research to understand the full impact and implication of the industry, to review and critique the industry norms and reports, on which certain issues shall be selected, which I feel remain unanswered or liable to change, this shall be further taken up in the next stage of exploratory research. DESCRIPTIVE RESEARCH STEPS in the descriptive research: .-Statement of the problem 1. Identification of information needed to solve the problem 2. Selection or development of instruments for gathering the information 3. 4. 5. 6. 7. Identification of target population and determination of sampling Plan. Design of procedure for information collection Collection of information Analysis of information Generalizations and/or predictions
DATA COLLECTION Data collection took place with the help of filling of questionnaires. The questionnaire method has come to the more widely used and economical means of data collection. The common factor in all varieties of the questionnaire method is this reliance on verbal responses to questions, written or oral. It was essential to make sure the questionnaire was easy to read and understand to all spectrums of people in the sample. It was also important as researcher to Respect the samples time and energy hence the questionnaire 30
was designed in such a way, that its administration would not exceed 4-5 mins. These questionnaires were personally administered.
The first hand information was collected by making the people fill the questionnaires. The primary data collected by directly interacting with the people. The respondents were contacted at Talukas comes under Amravati. The data was collected by interacting with 96 respondents who filled the questionnaires and gave me the required necessary information. The respondents consisted of Farmers, Business persons etc. the required information was collected by directly interacting with these respondents. DETERMINATION THE SAMPLE PLAN AND SAMPLE SIZE TARGET POPULATION It is a description of the characteristics of that group of people from whom a course is intended. It attempts to describe them as they are rather than as the describer would like them to be. Also called the audience the audience to be served by our project includes Customer from October 2010 to 21st may 2011.The specific population intended as beneficiaries of a program. This will be either all or a subset of potential users of Tractor. A population to be reached through interaction & through Telecalling. The group of people you are trying to reach with a particular strategy or activity. The target population is the population I want to make conclude an ideal situation; the sampling frames to matches the target population. A specific resource set that is the object or target of Investigation.
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SAMPLE SIZE: This involves figuring out how many samples one need. The numbers of samples you need are affected by the following factors: 1. Project goals 2. How you plan to analyze your data 3. How variable your data are or are likely to be 4. How precisely you want to measure change or trend 5. The number of years over which you want to detect a trend 6. How many times a year you will sample each point 7. How much money and manpower you have
SAMPLE SIZE : We have targeted 95 Customers in the Talukas comes under Amravati. The target population influences the sample size. Out of 95 customers 50 will be covered by Personal interaction & remaining 45 will be contacted through Telephone. The target population represents the Amravati regions. .The people were from different professional backgrounds. The details of our sample are explained in chapter named primary research where the divisions are explained in demographics section.
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CHAPTER 8
GLORIOUS PAST
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CHAPTER 9
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Sr.No. 1.
3. Anjangaon S. 4. Akola 5. Bhatkuli 6. Chandur Bazaar 7. Chandur Railway 8. Daryapur 9. Morshi 10 . Buldhana 11 . Washim 12 . Warud 13 . Total 95 3 2 3 4 17 3 14 13 3 10
In the data of 95 customers of YUVRAJ 215 20 customers where already users of Tractors of different companies and they purchased YUVRAJ 215 to full fill there need. Ratio of 20 customers
Sr.No. 1. 2. 3. 4. 5.
Tractors Company Mahindra & Mahindra Tractor John Deere Tractor Ferguson Tractor Sonalika Tractor Total
Nos. of customers 12 4 2 2 20
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12 10 8 6 4 2 0 S onalika Tractor Mahindra & Mahindra Tractor John Deere Tractor F uson Tractor erg
After the launching of YUVRAJ 215 this 20 customers were users of YUVRAJ 215.
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List of 50 Yuvraj 215 customers contacted personally and interviwed through five questions.
Sr.No. 1.
Village Chandur bazaar Chandur bazaar Chandur bazaar Chandur bazaar Chandur bazaar Chandur bazaar Chandur bazaar Chandur bazaar Chandur bazaar Chandur bazaar 39
Phone/Mobile 9923366296 9372581342 9637981007 9922797081 9011577361 9421828864 9421820230 9960900901 9049200655 8806015681
2. Dilip dhote 3. Mohan bhalerao 4. Gajanan Watane 5. Sahebrao kadu 6. Nandkumar wasankar 7. Subhash behare 8. Sham thelkar 9. Milind gawande 10 . Dilip pathare
11 . Narendra ubhad 12 . Dilip shelake 13 . Panjabrao chimote 14 . Ashok Kale 15 . Shobha Gawali 16 . Damodhar Mathane 17 . Seema Ghogare 18 . Ramdas Nathe 19 . Pushpatai G Deshmukh 20 . Raosaheb L Deshmukh 21 . Shivankar sawankar 22 . Prabhakar dhavale 23 . Pramod telankhede 24 . Baburao patharkar 25 . Prashant A. Dhande 26 . Manish Sudhakarrao Hole 40 Daryapur 9730921547 Daryapur 9763464377 Daryapur 9552287676 Daryapur 9623334301 Anjangaon. S 9096941874 Anjangaon. S 8007322780 Anjangaon. S 9922267462 Anjangaon. S 7588085167 Anjangaon. S 9403620231 Anjangaon. S 9404110719 Achalpur 9823356630 Achalpur 9822260076 Achalpur 9850737927 Achalpur 9545658458 Achalpur 9922702874 Achalpur 9423621626
27 . Subhash V. Kokate 28 . Anil nade 29 . Pradip paturde 30 . Sanjay kadu 31 . Umesh kutemate 32 . Narendra bramhankar 33 . Ujwal khedkar 34 . Vinit dhande 35 . Bhagwan bhade 36 . Purushattam bhade 37 . Vilas tarale 38 . Nandakishor Hambarde 39 . Aravind P Korat 40 . Gajanan M Gawali 41 . Baburao S Kadu 42 . Ravindra R Khadase 41 Bhatkuli 9767231660 Bhatkuli 9545424292 Bhatkuli 9767240058 Bhatkuli 9370103090 Bhatkuli 9881214203 Daryapur 942382930 Daryapur 9657359596 Daryapur 9545825054 Daryapur 9822099571 Daryapur 9766004230 Daryapur 8007505027 Daryapur 9922281649 Daryapur 8605811737 Daryapur 9763577010 Daryapur 9764282470 Daryapur 9975051740
43 . Rajubhau Bhore 44 . Prahalad Dagal 45 . Suhhir joshi 46 . Ramesh kothar 47 . Rajendra gatfane 48 . Sharad rao sikachi 49 . Gajanan jalit 50 . Sunil jalit Chandur railway 9922036858 Chandur railway 9922036858 Walgaon 9423386040 Bhatkuli 9689738218 Bhatkuli 9881214203 Bhatkuli 9881214203 Bhatkuli 9922309514 Bhatkuli 9637858003
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Graphical representation of all five questions for all 95 customers of YUVRAJ 215.
1. What is the reason for purchasing Yuvraj 215?
Sr.No.
Parameter
NO. of Respondents 60 28 07 95
1 2 3
INTERPRETATION: 1. MAHINDRA HAS GOOD BRAND NAME IN THE MARKET. 2. ITS PRICING STRATEGY IS ALSO INCREASES ITS SALES.
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Sr.No.
Parameter
NO. of Respondents 70 25 95
1 2
YES NO TOTAL
70 60 50 40 30 20 10 0 NO. of R pondents es P enta e erc g
YE S NO
INTERPRETATION: 1. MORE NOS. OF CUSTOMERS WERE STATSIFIED WITH YUVRAJ 215 PRICE. 2. SOME WERE NOT HAPPY WITH PRICE.
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Sr.No.
Parameter
NO. of Respondents 60 35 95
1 2
YES NO TOTAL
60 50 40 30 20 10 0 N . of R pondents O es Percenta e g YE S N O
INTERPRETATION: 1. MOST OF THE CUSTOMERS GOT THE SPARE PARTS AS PER THERE NEED. 2. SOME CUSTOMERS FACED LOT OF PROBLEM AS THERE TRACTOR WAS IN THE SHOWROOM DURING SEASONAL WORKS.
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Sr.No.
Parameter
NO. of Respondents 90 5 95
1 2
YES NO TOTAL
90 80 70 60 50 40 30 20 10 0
Y ES NO
P ercentag e
INTERPRETATION: 1. MOST OF THE CUSTOMERS GOT SERVICING AT THERE DOOR STEP ON TIME. 2. FEW PEOPLE DID NOT GOT SERVICE ON TIME AS MANPOWER STRENGTH IS LESS.
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5. Is the repair time and repair quality in Mahindra Service stations is convenient to you?
Sr.No.
Parameter
NO. of Respondents 55 40 95
1 2
YES NO TOTAL
INTERPRETATION: 1. MOST OF THE CUSTOMERS GOT GOOD SERVICE. 2. FEW CUSTOMERS TRACTOR PROBLEM WAS CRITICAL AND IT TOOKED TIME TO REPAIR IT.
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CHAPTER 10
FINDINGS
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10. FINDINGS:
Based on the data gathered by administrating schedules to customers the following observations are made. 1. Yuvraj 215 has excellent percentage of customer satisfaction. 2. Most of the people are satisfied with its low maintenance cost and after sales service provided by Murli Agro Wheels. 3. Based on the fuel consumption, most of the people are satisfied with it. 4. Based on Safety and Comfort, Design, Space, Maintenance most of the people are satisfied with it. 5. Large numbers of Tractor user are not aware about its Implements and its usage. 6. Customers who have technical knowledge and use the Tractor as per its capacity there Tractor are Performing well. 7. Its features and style satisfy most of the people.
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CHAPTER 11
RECOMMENDATION
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11. RECOMMENDATION:
a. Mahindra Company has to implement good customer relationship Management strategy that enhances customer satisfaction level. b. Availability of parts with Dealer and manpower to increased at service station. c. The company should promote about the entire feature offered by it. d. As majority of the customer give opinion that they are satisfied is the factor, services and performance of the Tractor of the company should taken not only maintain the existing standard but also enhance them. e. Availability of parts with Dealer and manpower to be increased at service station.
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CHAPTER 12
CONCLUSION
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12. CONCLUSIONS:
1. Mahindra has a very good market share in the state of (M.H.). . 2. The company is offering good services, which is reflected on the satisfaction of the Customer. 3. Majority of the customer are satisfied with the performance of the Yuvraj 215. 4. Customers know about the Product but they are not aware how it would be useful and Beneficiary for them.
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CHAPTER 13
BIBLOGRAPHY
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13. BIBLIOGRAPHY:
Philip Kotler 13th edition Marketing Management www.Mahindra & Mahindra ltd.com Google Documents Data from Mahindra Tractor Nagpur and Murli Agro Wheels (DEALER).
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CHAPTER 14
ANNEXURE
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14. ANNEXURES:
Dealership: Name of Customer: Village: Tehsil:
QUESTIONNAIRE
1. What is the reason for purchasing Yuvraj 215? Brand Name Cost Other
5. Is the repair time and repair quality in Mahindra Service stations is convenient to you? Yes No
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