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Project Report On Marketing Strategy For Bba
Project Report On Marketing Strategy For Bba
ON
MARKETING STRATEGY
Submitted to
BACHELOR OF BUSINESS
ADMINISTRATION
Submitted by
NAME: Rahul
ROLL NO.: 1308004328
BBA
SIKKIM MANIPAL UNIVERSITY
CERTIFICATE
This is to certify Rahul chauhan, a student of
the Sikkim Manipal University has prepared his training
report entitled Marketing Strategy at Continental
Manufacturing Co. , under the guidance . He has fulfilled
the requirement leading to award of the degree of BBA
(Industrial Integrated). This report is the record of
bonafide training undertaken by him and no part of it has
been submitted to any other University or Educational
Institution for award of any other degree
/diploma/fellowship or similar titled or prizes.
I wish him all success in life.
STUDENT DECLARATION
I hereby declare that Training Report
conducted at
BACHELOR OF BUSINESS
ADMINISTRATION
(INDUSTRY INTEGRATED)
To
SIGNATURE OF CANDIDATE:
ACKNOWNLEDGEMENT
I wish to acknowledge my sincere gratitude to
Mr. Pravin Kumar (Marketing manager)
for giving me an opportunity to carry out my
Training at CONTINENTAL
MANUFACTURING CO. Rewari.
12)
1 GENERAL INTRODUCTION ABOUT SECTOR
2 - INDUSTRY PROFILE
I.
III.
3. ORIGIN OF ORGANIZATION
CONTINENTAL MANUFACTURING COMPANY establised in
1990 with the aim to manufacture Precision and High
Quality Plastic and Steel metal component. At CMC, we
have been serving OEMs in Gurgaon Fom very bigning
and have made good cutomer on base due to our
industrial background sonce 1958. We have specialization
in manufacturing of deep draw components in seat metal
and injection molded plastic part with critical shape and
size . We have two uit & offices they are given below:-
6. PROFILE OF ORGNIZATION
Organizational structure
cEO
7. DISCUSSION ON TRAINING
Marketing strategy is a process that can allow an
organization to concentrate its limited resources on the
greatest opportunities to increase sales and achieve a
sustainable competitive advantage
Types of strategies
Marketing strategies may differ depending on the unique
situation of the individual business. However there are a
number of ways of categorizing some generic strategies.
A brief description of the most common categorizing
schemes is presented below:
Strategies based on market dominance - In this scheme,
firms are classified based on their market share or
dominance of an industry. Typically there are four types of
market dominance strategies:
Leader
Challenger
Follower
Nicher
Innovation strategies
Pioneers
Close followers
Late followers
Horizontal integration
Vertical integration
Diversification
Intensification
Strategic Planning
Getting to the Starting Line
Marketing Management
MARKETING ORGANIZATION
Overall Organization
BUYERSELLER RELATIONSHIPS
A Customer Relationship in the United Kingdom
The three aspects of the relationship which are studied
are competition, technical development, and personal
contacts.
Competition
Competition for this customer comes primarily from
American suppliers. The competition is on price and
reflects the spare capacity in the American industry.
Competition from UK companies is also on price and
comes from companies having a wider production spread
than Belter.
Development
Contact Pattern
Interpersonal contacts between Belter and its UK
customer are summarized as
follows:
(1) Formal Contacts
Every six months Technical policy liaison meeting, jointly
chaired by Belter's Technical Director and the customer's
Chief Materials Manager. Every sixnine months
Commercial meeting, Belter's Managing and Marketing
Supply
Demand
Is how much consumers are prepared to buy at the market price.
In theory, as the price of a product goes up, the quantity supplied
rises and the quantity demanded falls. Likewise, when the price
goes down, the quantity supplied falls and the quantity demanded
rises.
For agricultural produce, demand is affected by a number of
factors, the most
The Marketing Training Manual 24 Marketing Module 3: Markets
and Marketing
The business case for the purchase has been completed and
approved.
The purchasing organization's objectives for the purchase
are clearly defined.
The procurement process is agreed upon and it conforms
with fiscal guidelines and organisational policies. The
selection criteria have been established.
A budget has been estimated and the financial resources
are available.
A buying team (or committee) has been assembled.
A specification has been written.
A preliminary scan of the market place has determined
that enough potential suppliers are available to make the
process viable (this can sometimes be achieved using
an expression of interest process).
It has been clearly established that a competitive
tendering process is the best method for meeting the
objectives of this purchasing project. If (for example) it
was known that there was only one organisation capable
of supplying; best to get on with talking to them and
negotiating a contract.
Non-tender purchasing
Not all industrial sales involve competitive tendering.
Tender processes are time consuming and expensive,
particularly when executed with the aim of ensuring
probity. Government agencies are particularly likely to
utilise elaborate competitive tendering processes due to
the expectation that they should be seen at all times to
be responsibly and accountably spending public monies.
Private companies are able to avoid the complexity of a
fully transparent tender process but are still able to run
the procurement process with some rigour.Beneficial
Developing a sales strategy/solution selling/technical
selling
The "art" of technical selling (solution selling) follows a
three stage process...
Stage 1: Sell the appointment: Never sell over the
telephone. The aim of the first contact with a prospective
purchaser is to sell the appointment. The reason is
simple; industrial sales are complex, any attempt to sell
over the phone will trivialise your product or service and
run the risk of not fully understanding the customer's
need.
RESEARCH PROBLEM
1. Identify your target market.
Which businesses need cleaning services? Which ones
can afford it and will pay for it? Why?
In your case, I would think that small businesses may not
be your ideal client. But then again, define "small
business." Are you referring to sales volume or number of
employees.
I can tell you right now as a marketing consultant that
has worked with a wide variety of businesses, including
small companies:
" Small businesses are very price sensitive and prefer to
do more themselves rather than pay someone else."
(They hold this belief even if it would free up more time to
be more productive. Go figure?)
So before you randomly begin picking a target market,
have a rational reason why. Continue to read below and
you'll begin to see what I am talking about.
too much right now. And they just might be right. In those
cases, if you can give them a fair price that is a better
deal for them AND still gives you healthy profit margins,
then go for it.
However, if you are slashing prices just to gain clients,
aren't you really just hurting yourself in the long run? First
of all, you can easily get into the game of "How low will
they go?" Secondly, it de-values your perception of
quality if you are "cheap." Thirdly, who's to say after all
this effort, you won't lose the business in a month or two
when someone else quotes them an even lower price?
What will you do next, price so low that you lose money
with every client? I didn't think so.
Here's what you could do though...
7. Follow up
Even after identifying the businesses that are most likely
to need your services, after you have identified a
solution, and even after you contacted them with a
compelling offer, you still have to follow up.
Chances are they loved the sound of it when they got it.
They had every intention of following up with you. But
then just got busy. So your follow up call can make all the
difference in the world and get your foot in the door ... in
a very big way. Then it's up to you to DELIVER on your
promise.
8.
ANALYSIS
Market Analysis
The goal of a market analysis is to determine the attractiveness of a
market and to understand its evolving opportunities and threats as they
relate to the strengths and weaknesses of the firm.
David A. Aaker outlined the following dimensions of a market analysis:
Market size (current and future)
Market growth rate
Market profitability
Industry cost structure
Distribution channels
Market trends
Key success factors
Market Size
The size of the market can be evaluated based on present sales and on
potential sales if the use of the product were expanded. The following
are some information sources for determining market size:
government data
Market Profitability
While different firms in a market will have different levels of profitability, the average profit
potential for a market can be used as a guideline for knowing how difficult it is to make money
in the market. Michael Porter devised a useful framework for evaluating the attractiveness of an
industry or market. This framework, known as Porter's five forces, identifies five factors that
influence the market profitability:
Buyer power
Supplier power
Barriers to entry
Threat of substitute products
Rivalry among firms in the industry
Distribution Channels
The following aspects of the distribution system are useful in a market
analysis:
Existing distribution channels - can be described by how direct they are
to the customer.
Trends and emerging channels - new channels can offer the opportunity
to develop a competitive advantage.
Channel power structure - for example, in the case of a product having
little brand equity, retailers have negotiating power over manufacturers
and can capture more margin.
Market Trends
Changes in the market are important because they often are the source of
new opportunities and threats. The relevant trends are industrydependent, but some examples include changes in price sensitivity,
demand for variety, and level of emphasis on service and support.
Regional trends also may be relevant.
9.
CONCLUSIONS
to identify
(2) solve marketing problems.
(3)
This distinction serves as a basis for classifying marketing research into
problem identification research and problem solving research.
Problem identification research is undertaken to help identify problems
which are, perhaps, not apparent on the surface and yet exist or are likely
to company image, market characteristics, sales analysis, short-range
forecasting, long range forecasting, and business trends research.
Research of this type provides information about the marketing
environment and helps diagnose a problem. For example, The findings
of problem solving research are used in making decisions which will
solve specific marketing problems.
The Stanford Research Institute, on the other hand, conducts an annual
survey of consumers that is used to classify persons into homogeneous
groups for segmentation purposes. The National Purchase Diary panel
(NPD) maintains the largest diary panel in the United States.
Standardized services are research studies conducted for different client
firms but in a standard way. For example, procedures for measuring
advertising effectiveness have been standardized so that the results can
be compared across studies and evaluative norms can be established.
The Starch Readership Survey is the most widely used service for
evaluating print advertisements; another well-known service is
the Gallup and Robinson Magazine Impact Studies. These services are
also sold on a syndicated basis.
Questionnaires
1. What are the objectives of the marketing strategy? Are
they clearly stated? Are they consistent with the
objectives of the firm? Is the entire marketing mix
structured to meet these objectives?