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The project is about A study on Marketing Mix of R.K. Consultancy & Contractor Testing
& Research Laboratory. The project was undertaken by me and the entire task was divided
into sub-tasks. The process started from identifying the need, then advertising the same to
prospective individuals by distribution of pamphlets, holding various activities in
residential areas etc. then individuals were surveyed.
The Every business organization reaches to the customers through their goods or services.
To
sell the products to the customers a number of activities are being performed. This is called
marketing and it is an important function. Marketing is the performance of business
activities that directs the flow of goods and services from producer to the customer. It is the
activity that directs to satisfy the human needs through exchange process. Marketing starts
with the identification of a specific need of customers and ends with satisfaction of that
need. The customer is found in the beginning and end of marketing process. In marketing a
large number of activities are performed. For easy understanding these activities are
divided
in 4 groups for products and 7 groups for services. These elements are product, price
promotion, placement for products and three additional elements for services are process,
people and physical evidence. These are called elements of marketing mix.
Most of the companies have applied various elements of promotion mix. Promotion mix
elements include advertising, publicity, sales promotion, personal selling and packaging.
Sales promotion is one of them and it is our concerned topic. In present competitive
situation most of MNCs had developed sales promotion strategy in selection of parties,
techniques and managing sales promotion techniques effectively and efficiently. This
strategy provides competitive advantage to the companies in the market to grow, stabilize
and excel in business performance. Therefore, sales promotion strategy is very significant
for companies to earn bread and butter. This attracted me to select and study this topic
The main objective of sales promotion is to increase the sales of products in short term by
influencing the behaviour of buyers. Sales promotion methods are many and these are
selected as per the target groups. For this purpose, a sales promotion strategy is to be
prepared to achieve the objectives effectively. Sales promotion strategy directs the manager
in selection of parties, methods of sales promotion, implementation of methods and
measuring effectiveness of whole efforts regarding sales promotion.
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A STUDY ON
MARKETING MIX OF
R. K. CONSULTANCY &
CONTRACTOR
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INTRODUCTION
“The process of ascertaining consumer needs, converting them into a product or service &
then moving the product or service to the final consumer or user to satisfy such needs &
wants of specific customer segment or segments with emphasis on profitability, ensuring
the optimum use of resources available to the organization.”
“Marketing is so basic that it can’t be considered a separate function. It is the whole
business seems from the point of view of its final results that is from the customer’s point
of view Business success is not determined by the producer but by the customer.”
According to me marketing means, push the product to the market & pull the customer
towards the business. We can say that the main aim of the marketer is to convert the want
of the customer to the need of the customer. “Thus marketing job is to convert societal
needs into profitable opportunities. Hence, Marketing occupies an important position in the
organization of a business unit. It is one of the important line activities of business
operation. It consists of the ownership of goods. Goods are not complete products until
they are in the hands of the customer. It is the process by which products are made
available to the ultimate consumers from their point of origin. It consists of all those
activities, which are meant to ensure the flow of goods & services from the producer to the
consumer. Therefore, marketing thinking must start with a crystallization of needs of
consumer segment of which the efforts will ultimately be aimed. In terms of needs, the
product or service must be developed or improved so that ultimately the product satisfies
such needs of the consumer segment involved.
Today marketer, have to take tough decisions because today’s market place is venomously
more complex. Domestic markets, at one time safe from foreign invaders are now the
happy hunting grounds of giant global corporation as well as global niche specialists.
Major strides in technology have considerably shortened time & distance. New products
are launched & astonishing pace are available worldwide in a short time.
Communicating ones media are proliferating new distribution channels & formats keep
appearing. Competitors are everywhere & hungry.
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MEANING OF MARKETING MIX
Definition:
The marketing mix definition is simple. It is about putting the right product or a
combination thereof in the place, at the right time, and at the right price. The difficult
part is doing this well, as you need to know every aspect of your business plan.
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According to W.J. Stanton, “ Marketing mix is a combination of four elements such as
product, pricing structure, distribution system & promotional activities used to satisfy the
needs of an organization’s target market & at the same time achieves its marketing
objectives. Every business enterprise has to determine its marketing-mix for the
satisfaction of the needs of the customers. Marketing mix represents a blending of decision
in four areas product, pricing, promotion & physical distribution. These elements are inter-
related, because decision in one area usually affects action in the others.
Marketing mix is marketing manager’s instrument for the attainment of marketing
goals. It is composed of four ingredients, i.e., (i) product (ii) price (iii) promotional
activities (iv) distribution. These elements constitute the core of marketing system of a
firm. A marketing manager implements his strategies & policies through these instruments.
Marketing mix represents a blending of four elements namely product, price, promotion
& distribution. Determination of marketing mix is an important decision which the
marketing manager has to take. The basic purpose of marketing mix is to satisfy the needs
& wants of the customer in most effective manner. As the needs of customers & the
environmental factors change, marketing mix is also changed.
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A product is an item that is built or produced to satisfy the needs of a certain group of
people. The product can be intangible or tangible as it can be in the form of services or
goods.
In developing the right product, you have to answer the following questions:
This comes with a deep understanding of your target market. Understand them inside out
and you will discover the most efficient positioning and distribution channels that directly
speak with your market.
Intensive distribution
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Exclusive distribution
Selective distribution
Franchising
Sale Promotion:
Sales promotion is one of the 5 aspects of promotional mix. (The other four parts of
the promotional mix are advertising, personal selling, direct marketing and
publicity/public relations.) Media and non-media marketing communication are
employed for a predetermined, limited time to increase consumer demand, stimulate
market demand or improve product availability. Examples:
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3. Point of purchase displays
4. Rebates etc.
External Factors:
There is wide spread use of branding promotional activities are essential as they ar
more practical than advertising.
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Competitor have become promotional-minded there is cut-throat competition and
the market is flooded with numerous products hence promotional activities are
essential.
During the period of inflation & recession the consumer are more deal oriented and
the promotional technique facilitate sales.
The present stage of trade demands more deals from manufacturers.
Sales techniques
The sale can be made through:
1. Direct Sales, involving person to person contact
Buying Facilitation Method
2. Pro-forma sales
3. Agency-based
a) Sales agents (real estate, manufacturing)
b) Sales Outsourcing through direct branded representation
c) Transaction sales
d) Consultative sales
e) Complex sales
f) Consignment
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g) Telemarketing or telesales
h) Retail or consumer
4. Door-to-door or traveling salesman
5. Request for Proposal is an invitation for suppliers, through a bidding process,
to submit a proposal on a specific product or service. An RFP is usually part of a complex
sales process, also known as enterprise sales.
6. Business-to-business — Business-to-business sales are much more relationship
based owing to the lack of emotional attachment to the products in question.
Industrial/Professional Sales is selling from one business to another
Here is the expansions from the 4Ps to the 7Ps marketing model:
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Marketing Planning for Success
Abstract
A successful laboratory outreach marketing program can fill spare capacity, reduce unit
costs, and improve overall laboratory service levels in addition to contributing important
new net income. Yet, meaningful success usually results from careful plannng and
implementation. A market-oriented focus is a prerequisite when conducting a situation
analysis, defining the marketing opportunity, strategy, and program. Furthermore, the best
planning is worthless if the implementation process is not a success.
The quality of building material used to construct any kind of structure plays a determining
role in maintaining its durability. High quality building material ensures safety of the
building and enhances its resistance against adverse climatic changes. Therefore, testing of
building material, prior to its usage in construction, becomes of grave importance for
construction material manufacturers.
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Why there is a Need for Building Material Testing Labs?
1.Acquiring Certifications
Building material manufacturers require certifications from regulatory bodies in order to
bring their product into the market for sale. Construction material testing labs provide
manufacturers a platform to conduct quick, transparent and authentic checking procedures
that allows them to acquire certifications from concerned authorities.
3.Cost-Effective
Putting in place an entire set-up for testing of building material can turn out to be capital-
intensive. In-house testing of building material can cause you a severe financial setback.
Testing labs on the other hand do the job for you, after paying a reasonable sum without
requiring you to invest in a testing apparatus and other equipment.
If you have read this far, you probably now understand the importance of building
material testing lab. Therefore, if you are having a hard time in ensuring the quality
of your construction material, these testing labs are the right solution for you.
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COMPANY PROFILE
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QUALITY POLICY
To provide high quality and timely testing of material required for the construction of
highway, bridges dames, canals, buildings, airfield and other civil engineering structure
RKMT&RL management's commited to maintain high standard and implement latest
technology by continues learning to provide best services to our client. As per the quality
policy of this laboratory all the test and services are always carried out in accordance with
Indian standard IS CODE, ASTM, AASHTO and BIS method, and our client's
requirements. RKMT&RL has ensured that instruments apparatus are calibrated all
specified time intervals with national standards certificates.
SERVICES
RKCCMT&RL is providing accurate reliable and reproducible test results and designing
consultancy services to our customers concerning with the Civil Engineering work.
Our experts provide advice and reports & returns to the clients on the matters pertaining to
the civil engineering work.
Geotechnical Services
Drilling and sampling :-
Shallow Foundations
Deep foundations
Field Testing
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Plate Load test
Permeability Test
Electric Resistivity Test
Field CBR Test
Vertical pile load test
Lateral Load Test
Pile Integrity Test
Dynamic Pile load test
Bridge load testing
Concrete Technology
Non Destructive Testing:-
Collection Of Fieid Samples For Marshal Stability Test & Stability And Flow Value
By Standard & Modified Marshal Test Equipment
Collection Of Samples By Core Cutter From Concrete Pavements.
Chemical Tesing :-
Laboratory Testing
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Atterberg’s limits
Shrinkage Limit
Field Density /bulk density
Free Swell Index
Swell Pressure
Direct Shear Test
Triaxial Shear Test
Consolidation test
Proctor Compaction
California Bearing Ratio
Lab Permeability test
Building Material
AGGREGATE:-
Fineness modulus
Gradation
Deleterious constituents
Silt content
CEMENT:-
Job mix formula for bituminous macadam, Dense Bituminous macadam, Semi sense
bituminous concrete.
Ductility, Softening point, Penetration test, Flash and fire point, Viscosity of paving
bitumen Emulsion, Viscosity, Residue test
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Collection of field samples for Marshal Stability test & Stability and flow value by
Standard & Modified Marshal test equipment
BRICKS:-
Compressive strength
Water absorption
Efflorescence
Dimension
Determine the quality of building material they are using for construction.
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L A B O R AT O RY T E S T I N G
Soil Testing
Determination of :-
Index Properties
Mechanical Properties
CBR
Permeability
Chemical Properties
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OBJECTIVE OF STUDY
To know the sales promotion tools used by R.K. Consultancy and Contractor.
To know about the impact of sales promotion strategy of R.K. Consultancy and
Contractor.
To do the a SWOT analysis the strength & weakness of R.K. Consultancy and
Contractor.
On the basis of study, to summarize the findings and give suggestions for further
improvement in sales promotion strategy practices and its contribution in
achieving objectives of sales promotion.
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Research Methodology
RESEARCH DESIGN
For this research I have opted for secondary data collection methed.The
secondary data was collected from the company manuals, Internet, handbooks, and
management books and are edited to suite the purpose.
This is the most vital part of the work undertaken. After collection and
analysis of data, it was recorded in form as prescribed. The major part of the report
is the findings also include charts and diagram etc, and the report also mentions the
limitations of the project undertaken. The conclusions have been drawn out of the
findings and various recommendations have been given in the end of the report.
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SWOT Analysis
SWOT stands for:
1. Strengths
2. Weaknesses
3. Opportunities
4. Threats
•One of the most useful and essential tools for any business.
•SWOT start with internal aspects of the business and more traditional method
•SWOT analysis should be used by all businesses, and also by all levels and
product/business activity groups within its organization.
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STRENGTHS
Are factors, or core competencies, which will help make use of opportunities, contribute to
the achievements objectives and lessen the impact of threats or remove them completely.
•For a factor to be considered a strength, the business must ‘do better it’ than its
competitors. .
A new, innovative product or service..
Quality processes and procedures.
Any other aspect of your business that adds value to your product or service
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WEAKNESSES
For a factor to be considered a weaknesses, the business must ‘do it less well’ than its
competitors in an area that is important to its customers, or to the efficient running of the
business.
OPPORTUNITIES
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Collaboration
Loosening of regulations
Removal of international trade barriers.
THREATS
Threats are external conditions which could do damage to the business performance.
Changes in external environment also may presents threats to the firms.
Examples of such Threats include:
Natural disasters reducing supplies
Increased competition for supply materials
New regulations
Changes in the taste or needs of your markets.
Increased trade barriers.
DATA ANALYSIS
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AND
INTERPRETATION
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Data Analysis
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1. Nature of Outlets
The survey revealed that about 90% of the total outlets are non seasonal,
that means the services of RK Construction throughout the year is being
provided from non seasonal and rest 10% outlets are seasonal.
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2.Type of outlets:
From the above figure it is clear that out of 20 outlets, 9 Outlets are exclusively R K
Construction , another 5 outlets are of mixed type & the rest 6 outlets are exclusively
RKC counters.
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4. Knowing About Scheme And Promotion
From this figure it is clear that most of the clients get information about the
promotional schemes from the salesman of the company. Rests of the outlets get
information by SMS, Customer executives or any other sources of information.
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5.TYPES OF SCHEMES
The above figure shows that the regular promotional scheme is very much popular
because the clients want permanent income throughout the year. They also like
various promotional schemes such as UTC .Incentive based scheme is not much
popular because in this scheme some target is given to the owners.
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1. PROMOTIONAL SCHEME RECEIVED BYOUTLETS
UTC, Refilling & Scratch card Scheme is most popular & known scheme received
by maximum outlets .Gift and Discount /Rebate schemes are not received by
maximum outlets because they have some conditions to be fulfilled for getting it.
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8.Promotional tools Available at different outlets
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10. Promotional expenses throughout the year
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11. Factors affecting sales growth
From the above survey it is clear that sales promotion activity such
as high margin, more schemes & heavy advt. has a large impact on sales
growth.
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FINDINGS AND SUGGESTIONS
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FINDINGS
1. The most basic objective of any sales promotions is to provide extra value that
encourages purchase.
2. Short term sales increase is required to reduce inventory. Promotions like price-
off or bonus pack gives large & immediate benefit.
3. Trade promotions are designed to gain distribution and shelf space.
4. Sales promotion can be measured objectively to judge their success.
5. R.K. Consultancy and Contractor gives various promotional tools and profitable
schemes to the customers that increase their sales volume.
6. Promotional expenditures ultimately increase sales volume.
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RECCOMMENDATION AND SUGGESTIONS
1. Company should give knowledge to the customer about the promotional Scheme
so that they can better understand the importance of promotional activities.
2. There should be a regular meeting between Customer & company about the
implementation of sales promotion.
3. Company should adopt the promotional activities properly and not in a trial and
error method.
4. Company should arrange training or Seminar programs for customers to make
them aware about the company’s services and enhance their testing ability.
5. Hire the people with strong skills match, company fit and job match.
6. For retaining employees the quality of quick assimilation into the new culture
should be preferred in selection criteria.
7. Because everyone has different personalities, potentiality and different value
systems, so there are some differences in what motivates people. Treating
employees on the basis of their motivating factor helps in job-satisfaction of the
employees.
8. The employees want to feel like they are part of the decision making process.
They want to feel like their opinion counts. Therefore after every quarter of the
year a questionnaire related to improvement areas in organization and suggestions
should be filled by employee. The best and applicable suggestion should be
awarded.
9. “Suggestion scheme” apart from questionnaires should also be encouraged. The
company should encourage its employees to participate or suggest in the area of
work simplification, improvement in quality standards, safety and health,
improving customer relation, employee motivational schemes
10.Search more sources of selection.
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LIMITATION OF THE STUDY
To carry out the research study the following limitations were expected and faced
during the
research study:
1. The Company doesn’t declare all the data & the internal data are kept confidential.
3. Salesmen, customers, dealers and retailers were reluctant or hesitant to share data.
5. Time, cost and location factors become major difficulties in completion of research
6. Sample size may not be exact representative of the universe. There is possibility of
some error to a limited extent.
7. Lack of secondary data Collection of the recent brochures, in house journals, etc of
the company was relevant to a little extent. But most of the necessary information is
not available in the company 1. Availability of secondary data from sales records of
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CONCLUSION
company. Sales promotion, not only has Functional and Mental dimensions but also
Social and Spiritual dimensions. The challenge in front of Indian organizations today
is to first understand and then satisfy the needs of the customers. The needs of the
customers today are experiences and not just the products. The Indian Organizations
satisfaction and association with all the dimensions of the brand. These experiences
can be delivered by involving the customer in the supply chain which demands
improvement from the organization in terms of training the employees and aligning
Brands will depend on how efficiently and quickly the organization can adapt to
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BIBLIOGRAPHY
BOOKS:
1. Business world.
3. Economics Times.
Websites:
www.rkconsultancycontractor.com/ www.rkcc.in
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