WINTER PROJECT

2020- 21

LDRP INSTITUTE OF TECHNOLOGY AND RESEARCH,

GANDHINAGAR

GUIDED BY:-

MS. HARSHITA VIJAYWARGI

(Proff. At MBA dept.)

PREPARED BY:-
ROMIT PATEL

HARSHWARDHAN CHAUHAN

VIRBHADRA BARAD

RUCHITA PANDIT

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Date: 21th January 2021

CERTIFICATE

This is to certify that Mr. Romit patel, Harshvardhan Chauhan, Virbhadra Barad, Ruchita
pandit from, LDRP Institute of Technology and Research has successfully completed Winter
Project the training in our organization from Date 19/01/2021 to 20/01/2021. From his
training period we have find that he is sincere at his work and possesses a good moral
character.

For Duke Plasto Technique Pvt. Ltd.

Authorized Signatory

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 STUDENT DECLARATION

I hereby, declare that the winter Project titled, "A Consumer Buying Behaviour of Duke
Plasto Techniques Pvt. Ltd. " is original to the best of our knowledge and has nor been
published elsewhere. This is for the purpose of partial fulfilment of Kadi Sarva Vishwa
Vidhyalaya University requirements for the award of the title of Master of business
Administration, only.

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 ACKNOWLEDGMENT

Sincere efforts are always needed from many people to give life to the project work, and I
gratefully acknowledge my debt to those who contributed to the same.

To make any project, essential requirement is able guidance and references without which
project is incomplete. We are very much thankful to Mr. Parth P. Patel and who has provided
us an opportunity and motivation to gain knowledge through this type of project. We will get
practical knowledge from this project and this will help us a lot in our career.

I would like to acknowledge the valuable inputs given by, Mr. S.N. Patel (marketing manager
Director), Mr. Parth P. Patel (marketing manager). I also thank all the distributor of Tooran
Trade link who co-operated very well with me during the project & have made it a successful
venture.

We are also obliged by our respondents, whose co-operation has contributed major Palanpur
in our project. These are the main sources of primary data for our project.

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 ABSTRACT

A pipe inspection robot is device that is inserted into pipes to check for obstruction or
damage. These robots are traditionally manufactured offshore, are extremely expensive, and
are often not adequately supported in the event ormal function. This had resulted in
associated environmental services limited. A Newzealand utilize of this equipment, facing
significant periods of down time as they wait for their robots to be the repaired. Recently,
they were informing that several robots were no longer supported.

This project was conceived to redesign the electronics control systems one of these PIR,
utilizing the existing mechanical platform. Requirements for the robot were that it must
operate reliably in confined, dark and wet environments and provides a human wears with a
digital video feed of the internal status of the pipes. There robot should as much as possible
incorporate off the shaft components, cheap, and potentially onsite repair. This project details
the redesign and constructions of such robots. It employees there electronic boards integrated
with mechanical components and provides video feedback via custom graphical interface
although at the prototypes state the electronics has been successful with cost of less than a
length of the original robot purchase prize.

Keywords: Robot, Pipes defects, Electronics control systems, Digital video.

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INDEX

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S.No Part Content Page no
Part
  I Industry, in brief  7
 1   Product Evolution 10

 2   Why the particular business 13

 3   Founding the business, Founders and struggle 16

4    Growth, milestones and CSR activities 17

 5   Products and services 20

 6   Competition and competitors 26

 7   Employees and policies 28

 8   Marketing and Sales 29

9    Finance 31

 10   Effect of Covid Pandemic 33

Effect of Demonetization
11    Impact of GST 34

 12   Effect of changing Government policies 35

 13   SWOT analysis of the company 36
       
Part
  II New Business Idea 38
 1    Problem Identification 38
 2    Solutions existing and its issues 40
 3    New Product or service development 42

 Feasibility study- marketing, technology (survey and

 4   other research articles - primary and secondary) 44
 5    Revenue model 48
 6    Business Plan 49 
   
    References / Bibliography  50
    Annexures
Part I

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DUKE PLASTO TECHNIQUE PVT, LTD

Brief history:-

Indian's 2/3 population about mainly dependent an agricultural. Our agriculture is mainly
dependent on rainwater. Now rapid changing of modernization is also expe1ienced in ruler
India. Villages are now 8 days becoming modern gradually agriculture is changing its base
from rainwater to underground water.

A good portion of electricity used in agriculture in India. This level is increasing more than
60 crors are occupying 14.20 lake hectors of land. Modem agriculture is demanding highly
sophisticated equipment and technology. This history of Indian agriculture is not an overnight
thing, says as the history of DUKE PLASTO TECHNIQUE.

DUKE is promoted and managed by Mr.P.P.PATEL, Mr.S.N.PATEL and Mr.D.K.PATEL.

All the founders of Duke are quality conscious technology savvy and serving the nation since
1989 by providing quality pumping solution to pump industry.

Today company has sound financial position, powerful management skills and motivated
staff. It is having production capacity of producing per day. Company is spread over to 41000
square feet. There strong building in 2250000 square feet land area.

From the last two decades Duke engaged in manufacturing of high quality UPVC casing
pipes, column pipes pressure pipes, Electrosurgical Sealing Ring pipes SWR pipes, MPVC
plumping pipes and all type PVC fitting.

 Industry Information:-

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Originally used in Europe, submersible, foul water surface water and sewage pumps first
were seen in the United States in the mid-I950s. Submersibles pumps are the dominant
feature in the pumping station market. A submersible pump includes not only the pump-
motor unit, but sophisticated elec1ical and mechanical controls, piping and wet well with
access frame and cover, too.

The submersible solids handling sewage pump operates under water and is flood-proof. It is
designed for single or dual, wet-pit use and can be removed easily for maintenance.

The pump is efficient, quiet in operation, safe to install and performs long and reliably, the
submersible wastewater pump is used p1imarily for wet-pit sewage pump stations and for
industrial sump or process effluent applications, a common use for small pumps is to move
effluent from a GRP tank.

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Large and small units are used in a variety of ways in the home, hotel, school, marine,
commercial building, industrial plant and municipal sewage and stone water pump systems.
Submersible pumps have been proven over the last half of a century, disproving those
sceptics who originally questioned how an electric motor-powered pump could under water.

Originally developed in Europe, millions now are used daily throughout the world to pump
clear water, raw water and wastewater.

The submersible wastewater, foul water, surface water and sewage pump became popular in
the early 1960s, when a guide rail system was developed to lift the pump out of the pit for
repair. This ended the dirty and sometimes dangerous task of sending people into the sewage
or wet pit. Growth of the submersible for wastewater pumping since has been dramatic, as an
increasing number of specifies and users learned of its advantages. Two classes of
submersibles exist. The smaller units, commonly called sewage ejectors, are used in home
and light commercial applications; they nominally handle up to 55mm spherical solids and
range from .75kW to 2.2kW.

Larger submersibles handle 65mm and larger solids and have a minimum of 80mm discharge.
They are used in municipal and industrial applications for pumping sewage and all types of
industrial wastewater.

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 Product Evolution

 Domestic and global

Market research analysts at have predicted that the pumps market in India will grow steadily
during the predicted period and will post a CAGR of almost 10% by 2020. Owing to
increased consumption, the pump manufacturers have been concentrating only on the needs
of the domestic market, mainly to the agriculture and building services industries. The
influence of linearization, privatization, and globalization of the Indian pump market have
compelled manufacturers to export their products to foreign countries where the demand for
pumps in high in industries such as oil and gas, steel, and mining. Currently, the US and
Germany are the revenue contributors to the market. Factors such as the rising demand for oil
and the increased investments in water and wastewater treatment activities will have a huge
impact on pump exports in India, which will drive the demand for the market during the
predicted period.
The pumps market in India will witness the emergence of intelligent pump systems and micro
disc pump technology in the next few years. Intelligent pump systems can control and
regulate the flow or pressure of the fluid, can adjust to process changes, and also have a fault
tolerant design, which will induce several manufacturers to adopt these pumps as they reduce
the total cost of ownership without compromising performance parameters. Also, the micro
disc pump technology will help manufacturers develop small-size and energy-efficient disc
pumps that can be used in medical applications such as wound therapy and blood pressure
measurement.

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India today exports pumps to 100+ countries

According to a recently published report by Research, “India Water Pumps

Market Forecast and Opportunities, 2020”, the market for water pumps in India is
expected to witness rapid growth at a CAGR of around 12% during 2015-2020. Market
growth is driven by increasing urbanization, leading to high growth in residential and
commercial segments. Growing dependency on groundwater and irregularity in monsoon
are catalyzing demand for water pumps in the agricultural segment. Government efforts to
improve water infrastructure, water supply and sanitation services across the country are
expected to further drive the use of water pumps in the country.

Besides agriculture, a significant share to the country’s water pumps market is contributed
by the industrial sector, where power plants, chemical manufacturing and water &
wastewater treatment are the prime application areas. Rapid penetration of desalination
plants in industrial sector is consequently boosting the demand for water pumps in this
segment. Around 15 desalination plants announced in 2014, would be launched in the
country over the next few years. Growing demand for desalinated water is driven by
depleting per capita water availability which is motivating India to explore alternate
sources of water.

In combination with water treatment industry, water pumps are also gaining traction in
power sector. According to the Planning Commission of India, the government targets
capacity addition of about 72,000 MW thermal power plants during the 12th FYP,
surging demand for water pumps in the country. Magnetic drive based water pumps, EPC
(Engineering, Procurement and Construction) based water pumps, and mobile phones used
as remote controllers for administering water pumps are some of the innovative products
being introduced in Indian market.

“India water pumps market is projected to grow at a CAGR of around 12% during 2015-
20. However, this growth is sluggish, given the past growth scenario, primarily due to
decline in real estate market. Although, the impact of decline on future growth of water
pumps market is only marginal, since recovery is projected in real estate construction
sector. In addition, a slight decline is observed in the production of vacuum tower bottom

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products such as furnace oil and fuel oil. Moreover, despite fair performance of domestic
market, imports of low cost Chinese pumps are increasing. Given this scenario India water
pumps market is anticipated to grow at a marginally lower rate than growth during the past
five years.” said Mr. Karan Chechi, Research Director with Research, a research based
global management consulting firm.

“India Water Pumps Market Forecast and Opportunities, 2020” has evaluated the future
growth potential of India water pumps market and provides statistics and information on
market structure, industry behavior, trends and trade dynamics. The report includes water
pumps market projections and demand forecasting. The report is intended to provide
cutting-edge market intelligence and help decision makers to take sound investment
evaluation. Besides, the report also identifies and analyses the emerging trends along with
essential drivers, challenges and opportunities existing in water pumps market in India.

Market research analysts at have predicted that the pumps market in India will grow steadily
during the predicted period and will post a CAGR of almost 10% by 2020. Owing to
increased consumption, the pump manufacturers have been concentrating only on the needs
of the domestic market, mainly to the agriculture and building services industries. The
influence of linearization, privatization, and globalization of the Indian pump market have
compelled manufacturers to export their products to foreign countries where the demand for
pumps in high in industries such as oil and gas, steel, and mining. Currently, the US and
Germany are the revenue contributors to the market. Factors such as the rising demand for oil
and the increased investments in water and wastewater treatment activities will have a huge
impact on pump exports in India, which will drive the demand for the market during the
predicted period.

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 Why the particular business

 Reasons for selecting the business

The duke company is establishment in 1962, is name “Kisan Pump” after 1982 was rename
as Arahant Pump”.

Mr. Ramesh Patel Mr. Prabhudas Patel has the build duke groups company. In Palanpur of
Banashkantha District.

They started the firm as a repairing shop and turned it in to large group of companies.
Manufacturing item like Submersible Motors, Submersible Pump set, Domestic Pump set,
and Winding wires, PVAs Pipes, etc.

The area of Duke Company is spread over to 41,000 Sq. Ft. there strong building in 22,
50,000 Sq. Ft. area, Pumping trust around the world – Duke Plasto Technique Pvt. Ltd.

Duke Plasto Technique Pvt. Ltd. Is synonymous for manufacturing quality consistent and
reliable Products, and National Quality Award” in 2007 from government of India has proved
it.

Duke’s diligent and visionary workforce is committed for the highest quality production
under a roof with an ambition to make an empire at world level.

By getting customer satisfaction and simultaneously providing them unique product which is
highly inspected with latest technology. Pouring out Solutions for a lifetime.

 Motivation

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It is important for marketers to realize that motivation is only one of the essential elements
that contributes to buying behaviour as given in No amount of love or money or other
incentives could motivate the person who is not able to walk

Similarly, if a shopkeeper is offering sale on all the items but he/she opens on weekdays only
upto6.00 p.m. In this case even if people are motivated but the shopkeeper is giving very little
opportunity to act on their motivation.

Similarly, suppose a company is offering a new product line and spending much on heavy
advertisement, company is not ensuring whether the products are available in all the outlets.

 Selection of location

Before you start looking for a business location, you should have a clear picture of what you
have and what you want to have in future. Coming up with that picture is a time-consuming
process, which is both tedious and exciting – but you need to give it the attention that it
deserves.

Although many business mistakes can be corrected later, a bad location is sometimes
impossible to repair.

Here are some other factors that you should consider when choosing the best business
location:

1. Style of Operation

Is your business going to be formal or elegant? Your location needs to be consistent with a
particular image or style. If you own a retail business, do you want a traditional store or an
online store?

2. Demographics
When considering demographics, you should think about two important angles. First, you
should think about who your customers are and how close they are to your location. This is
critical for some service providers and retailers but not so for other businesses. The
demographic profile that you have for your target audience will allow you to make this
decision.

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3. Foot Traffic

For many businesses, foot traffic is very important. Nobody wants to be tucked away in a
corner where potential customers will pass him/her by. On the other hand, if your business
needs confidentiality, you should opt for a low-traffic area.

4. Parking and Accessibility

If you are considering an office building, ask yourself whether you need the keys for periods
when the main doors are locked. If the building closes on weekends and you would like to
work then, you should look elsewhere. Make sure that there is sufficient parking for
employees and customers.

Just as with foot traffic, you should monitor the facility and see how the parking demand
fluctuates. Moreover, you should make sure that the parking lot is adequately lit and well
maintained.

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Founding the business, Founders and struggle

 Board of Directors :-

(1)Prabhudas.P.PATEL (Managing Director)

(2) Shanti.N.PATEL. (Directors)

(3) Dinesh.K.PATEL (Directors)

(4) Ramesh.P.PATEL (Directors)

 Founding the business

Duke Plasto Technique Private Limited is a Private incorporated on 28 April 2008. It is

classified as Non-govt Company and is registered at Registrar of Companies, Ahmadabad. Its
authorized share capital is Rs. 50,000,000 and its paid up capital is Rs. 37,511,100. It is
involved in Manufacture of plastic products.

Duke Plasto Technique Private Limited’s Annual General Meeting (AGM) was last held on
22 July 2019 and as per records from Ministry of Corporate Affairs (MCA), its balance sheet
was last filed on 31 March 2019.

Directors of Duke Plasto Technique Private Limited are Parth Prabhudas Patel, Rameshbhai
Parshottambhai Patel, Prabhudas Parshottambhai Patel,

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Growth, milestones and CSR activities

 CSR activities

 Struggle behind achievement

· Duke Plasto Technique has received ISI Certification for IS 4985 in the year 1999
Received ISI Cet1ification of IS 12818 for UPVC Casing Pipes, and ISO 9001 : 2000
from ABS in the year 2000

· Approval from GWSSB, Gujarat in the year 2001

· Approval from UP Jal Nigam in the year 2002

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 · Approval from PHED, Rajasthan in the year 2003

· Supplied to UNISEF & WHO, South Africa in the year 2004

· Approval from Karnataka Water Supply Board in the year 2005

· Received National Quality Award for Quality Products in 2006

· ISO 9001: 2008Certification from TUY: SUD South Asia for Quality Management
System in 2008

· CE Certification from TUY : SUD for Outsource / Export to European Countries Five
Star Rating from Bureau of Energy Efficiency, Govt. of India, for Energy Efficient
Pumps

 Awards & Accolade

➢ Our product 1 Quality 1 itself is our milestone to introduce ourselves throughout India

as well as abroad.

➢ National Award for Quality Product 2006 for 11 uPVC - Pip- Handed by Hon. Prime
Minister of India Shri Manmohan Singh

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➢ National Award - 2009 for "Outstanding Entrepreneurship"
- Handed by Minister of State MSME, (Govt. of Gujarat) Shri Dinesh Patel.

➢ Empower Award - 2009 for "Highest Power Saving in Submersible Pump"

o Handed by Minister of State of Power, (Govt. of Gujarat) Shri Bharatsinh

Solanki.

➢ National Award - 2009 for 11 0utstanding SSI Entrepreneurship" - Handed by Hon.

Chief Minister of Gujarat Shri Narendra Modi.

➢ State Shramveer Award - 2009 for Best Kaizen

- Handed by Minister of Labour & Employment, (Govt. of Gujarat) Shri
VajubhaiVala

➢ National Quality Award - 2010for "Submersible

Pump" Product from

➢ Ministry of MSME,Govt. of india

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Products and services

 Products detail

People satisfy their needs and wants through product. Anything that can be offered to
satisfy a need or want is called product. The product is a bundle of desire. It can include
three kinds of equipment physical goods, service, & idea. A product is also something that
is made in a factory. In short, product is the sum total of physical, social & psychological
benefits.

A product can be classified by its various characteristics like durability, tangibility and
use. A product according to non-durable and durable on basis of use it can be classified in
to consumer goods and industrial goods.

DUKE offers three products to market

► Electrical submersible motor.

► Submersible pump set.

► Domestic pump.

Submersible Motors:-

Electrical submersible motor is used for during water from underground. The company
product this product is wide range with highest horse power in its kind manufacture under
brand name of "DUKE".

Features

1. High efficiency low power consumption.

2. Stainless operation.

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 3. Noiseless operation.

4. Easily rewind able due to HR PVC Wire.

5. Water lubricated bi-metal bearing buses.

6. Water filled construction.

Applications:

The E.S.M. is joined with submersible puma-set and applied in va1ious uses. The first and
main uses of submersible pump-set in Open, Drip, Sprinkler, Gardening, Seeds farm and
Nurseries. The other applications are industrial plants, Drinking water supply, high- pressure
washing fire fitting, landscaping & fountain.

SubmersiblePump-set:-

Submersible pump-set is used for lifting underground water. DUKE produces this product in
various models. They are turbo 4, 6111, 6r, Sm. When the ground water goes deeper and
deeper, requirement for a more powerful sanction head arise. The vertical turbine pumps, a
part from their tedious shaft extension system comes in to .the picture and served the
purposes but then comes the revolutionary submersible pumps to defect vertical turbine
pumps. DUKE is able to replace even laborious hand-pumps.

Features

· Unique pump design for 4•·, 6··, 8'' & 1O" bore Wells with wide range gives right
solution against the consumers' requirements.

· Lake proof stainless steel jacketed 4" pump.

· Radial Flow pumps without threaded joints and with shall mould castings.

· Mixed flow pumps without threaded joints and with stainless steel fasteners.

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Domestic pumps

Domestic pumps are generally used in houses for transportation of water, car washing and
gardening. DUKE is first company to launch stainless steel Domestic sense pumps are
manufactured in ·Legend' series.

The product offered by the company can be classified on the base of durability. DUKE
produces Durable products. As the products are durable ones they survive many uses, require
more personal selling and services, command a higher margin and more seller guarantee. If
we see on basis of uses, then products can be classified as consumer durable goods, capital
goods and industrial goods.

Features

· Smooth running even low voltage.

· Silent running

· Easy to use

Application

· Easy gardening.

· Car washing.

· Lifting of water.

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 · Total water solution. Type equation here.

People satisfy their needs and wants through product. Anything that can be offered to satisfy
a need or want is called product. The product is a bundle of desire. It can include three kinds
of equipment physical goods, service, & idea. A product is also something that is made in a
factory in short, product is the sum total of physical, social & psychological benefits.

A product can be classified by its various characteristics like durability, tangibility and use. A
product according to non-durable and durable on basis of use it can be classified in to
consumer goods and industrial goods.

DUKE offers Main two products to market.

Pumps:-

► Submersible Pumps & Motors:-

► Pipes:-

Pumps

Submersible Pumps

Domestic Pump

Open well Submersible Pumps

High Performance Submersible Pumps

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Pipes

Casing Pipe Column Pipe

Plumbing Pipes

Water Transportation & Irrigation Pipe

Mpvc Plumbing Pip

Upvc Plumbing Pipe

Duke Atoot Pipe

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 Capacity
Being able to analyze plant and equipment (capacity and automation) is essential to
understanding how you and your competitors are supplying the market demand. There is
often unmet demand in segments because companies do not or cannot produce enough units.
If you successfully analyze industry capacity, your team could benefit from these shortfalls.

Each product has its own production line where you can set capacity and automation.
Capacity represents the company's ability to produce units of its product. Think of capacity as
your manufacturing plant. For each unit of capacity, there are two shifts of workers that can
use your manufacturing plant to produce your products, which represents a first and second
shift. So if your product has a capacity of 1000, this means you can produce up to 2000 units
of your product.

Automation represents the robot-to-worker ratio in your manufacturing plant. A higher ratio
of robots will provide your company with a lower labour cost. However, this will increase the
amount of time it takes your products to be updated.

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Competition and competitors

Are competing companies close by? In some instances, this can be advantageous if
comparison shopping is popular. You might end up catching the excess from nearby
businesses if you are situated near an entertainment area or restaurant. However, if you are
selling CJ aviation fuel pumps and there is a competitor nearby that sells the same thing, start
looking elsewhere. When consumers are looking for very specific products, they understand
that their choices may be limited, so they will probably only visit one location.

KSB Pumps

CRI Pumps

VARUNA Pumps

UNNATI Pump

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SABAR Pumps

WATERMAN PVT. LTD

LUBI Pumps

DUKE Pumps LTD has large number of competitors in the market.

Imported material having variety of task can create big challenges for unit attractive packing
and size can fight against such threat.

Client List

28
Employees and policies

 Recruitment, promotions, empowerment, training,

At Duke Plasto Technique, We strongly believe that winning is never a one-man show. It

is always the team that wins.

Within Duke Plasto Technique, a professionally qualified & dedicated team of experts, at

each level of hierarchy, performs in tandem to deliver results that amaze. From time to

time, we also send our employees & technical staff to seminars, workshop & training

institute to keep them upgraded with the latest know how.

 Innovative strategies
Our Technical & other staff and infrastructure strength. We are having the technical staff
strength along with down line personnel in our entire organization like, Science
graduates, Engineers in top management, middle management and first line supervisory
level. We are having two divisions for production of different varieties in one premise,
Submersible Pump Sets' Manufacturing division and Pvc-Pipes' manufacturing division.
Both the divisions are well established by infrastructure in manufacturing process with
CNC machines and well established 'Quality Control Laboratory ' along with latest
Testing Equipments which are calibrated also as per ISI of Indian Government.

29
Marketing and sales

 Marketing department and sales department

Marketing is a comprehensive term. It include primary resource finance and management as

Well as set of activities in order to direct the follow of goods and service from producer to
consumers in the process of exchange and distribution.

Marketing may be defined as the process of exchange between sellers and buyers. It involves
a number of inter-related activities designed to plan promote distribute and price product or
service in order to uses the wants and needs of both the parties in exchange of translation. In
its broader sense marketing is the '' creation and delivery of standard of living to the society''
and a total system of interaction the business activities design to plan prize promotion and
distribute want satisfying products and services to present and potential consumers.

Marketing Director

Marketing Manager Product Manager

Sales executives

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In India marketers in the near future will have knowledge play the widened role of marketing
i.e. the creator deliver of better stander of living of our population.

Each divisions the report directly to managing director, marketing division is headed by
marketing mangers MR.S.N.PATEL who manages all the activities of marketing sale
executives gives to marketing manager, sale executives also related to product manager.

Marketing has been viewed as an ongoing of dynamic process involving a set of interacting
activity dealing with a marketing offering by producer to consumers on the basic of reliable
marketing process includes marketing function selling, distribution, salesmanship advertising,
sales, promotion market intelligence, pricing, decision are major marketing functions. These
marketing functions are performed by through marketing department.

 BRAND AWARENESS

The act of creating public awareness of a specific brand in order to maximize its recognition,
successful brand awareness strategies should define a company's uniqueness and set it apart
from competitors. Quite simply, if potential consumers do not know about a company, they
will not purchase from it. Therefore, one of the preeminent goals of any business should be to
build brand awareness. albeit in as cost-elective manner as possible.

Consumers tend to make purchasing decisions based on peer recommendations and direct
experience, as well as traditional advertising methods. This is why it is necessary to build
brand awareness strategies out by instilling trust among consumers. This trust must be
achieved

 transportation

Competitive plastic pipes are used for transferring wastewater, potable water, cooling and
Heating fluids, chemicals, gases, vacuum and compressed air system applications. Fiberglass
Pipe manufacturers explain why the use of plastic and competitive pipe provides a wide range
Of benefits to the users, such as:

• Moderate cost
• Ease of handling
• Corrosion resistance
• Installation
• Long service life

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Finance

 Investment

Professional investment management aims to meet particular investment goals for the benefit
of clients whose money they have the responsibility of overseeing. These clients may be
individual investors or institutional investors such as pension funds, retirement plans,
governments, educational institutions, and insurance companies.

Investment management services include asset allocation, financial statement analysis, Stock
selection, monitoring of existing investments, and portfolio strategy and implementation.
Investment management may also include financial planning and advising services, not only
overseeing a client's portfolio but coordinating it with other assets and life goals. Professional
managers deal with a variety of different securities and financial assets, including bonds,
equities, commodities, and real estate. The manager may also manage real assets such as
precious metals, commodities, and artwork. Managers can help align investment to match
retirement and estate planning as well as asset distribution.

 Cost Cutting Strategy

When embarking on cost cutting, it's important to implement a strategy before arbitrarily
cutting costs. Some costs are necessary, so it's important to classify costs into good costs, bad
costs, and best costs.

Good costs focus on the company's growth and are aligned with the company's customers and
how to meet the needs of those customers. Bad costs are those that do not match up with the
company's growth strategy, and waste resources. When bad costs are cut, they can free up
resources that can be used in a more productive capacity. Best costs are the costs associated
with what makes a company unique, how it differentiates itself from the competition, and
how it provides true value to its customers.

Once a company is able to allocate its cost into one of the above classifications, it will make
it easier to focus on cutting bad costs and maximizing on best costs.

It's also important to note that cost cutting doesn't necessarily mean completely cutting a cost.
It can also refer to optimization and efficiency. Optimizing productivity actually reduces
costs, so it's important to measure productivity. Today there are apps that allow companies to

32
monitor the productivity of employees as well as time spent on different work and projects.
Profit Management

Business firms are generally organised for the purpose of making profits and, in the long run,
profits provide the chief measure of success.

If knowledge about the future were perfect, profit analysis would have been very easy task.

Profit planning and measurement constitute the difficult area are: Nature and measurement of
profit, Profit Policies and Techniques of profit planning like Break-Even Analysis

33
 The Effects of Corona virus on Manufacturing Plastic Pipe

With the growing uncertainty stemming from the corona virus pandemic global markets are
in turmoil. Government actions have halted non-essential manufacturing in many countries.
China, where the virus first originated, had to scale back it’s manufacturing and work across
the country. While this has begun to abate, supply chains around the world have been rattled
causing many vendors and manufacturers to reconsider the amount in which they rely on
China for goods and services.

Additionally, a number of industrialized countries like Italy and Spain have taken harsh hits
to their economies and workforce causing a ripple effect around the world. Many countries
are taking precautions by shutting down manufacturing, seaports and even air travel. With the
world economy coming to a halt it is important for manufacturers to find a way to maintain
their business even in times of trouble. Which brings us to how drip irrigation and plastic
pipe manufacturers can still operate in today’s unstable climate.

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 Effect of Demonetization

 Adverse impact on input-output channels in agricultural sector.

 Sale, transport, marketing and distribution of ready produce to wholesale Centers or

mandis adversely impacted.
 Distributions, breaks in supply chains feedback to farmers as sales fall.
 Increased wastage of perishables.
 Lower revenues that show up as trade dues instead of cash in hand.
 According to NITI AAYOG it had only a limited adverse effect on the farmers.
 Rabi output in 2016-17 could be 4.96% higher than 2015-16 while kharif production
may be 3.5% more than last year.

 Impact on GST

 What GST essentially does is it merge a no. of existing indirect taxes into a single tax.
 Revenues of state govt. and local bodies would substantially reduce as they would not
able to levy VAT, luxury tax etc. instead they will get SGST which will be lower than
previous revenue.
 So, after GST implementation the govt. is expected to face a shortage of revenue
(short term effect) & would want a larger tax base.
 So, demonetization is likely to result in a larger tax base by bringing the money
stashed back into circulation & through the push towards digital transaction. It is in
the economy's interest to keep most of its money in banking system.
 So, it is necessary step as it will help in an easier implementation of GST.

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 Effect of changing Government policies

Impact of Taxation Policies / Business

 Payroll Taxation
• Corporate Taxation

• Excise Taxes

Product Cost
 Labour (Payroll costs)
 Overhead/Material (Excise & Duties)
 Corporate taxes reduce net income that can be either distributed to shareholders
(dividends) or retained for business investment

Selling Price
• Consumption taxes bump up the selling price Consumer spending accounts for

About 2/3 of GDP for acountry

36
SWOT ANALYSIS
A scan of the internal and external environment is an important part of the strategic planning
process. Environmental factors internal to the firm’s usually can be classified as strengths {S)
or weaknesses (W), and those external to the firm can be classified as opportunities (0) or
threats (T). Such an analysis of the strategic environment is referred to as a SWOT analysis.

The SWOT analysis provides information that is helpful in matching the firm’s resources and
capabilities to the competitive environment in which it operates. As such, it is instrumental in
strategy formulation and selection.

SWOT ANALYSIS

STRENGTHS

 Very good quality & brand image since long back.

 Rates are comparative.
 Rate of rejection is very low.
 Good advertisement back up to dealers.
 Strong dealers network.
 Very quick after sales service.
 The quality product of Duke Pumps Ltd. Is good as compare to competitive products.
 Employees of the company are very much loyal to the company.
 Consumers are well aware about the products of Duke Pumps Ltd. Because of strong
advertisement.

WEAKNESS

 Policy of the some pump is no consistent with the market environment.

 Less effort to capture domestic market.
 High price to compare market.
 Problems after sales service.
 Because of the cutthroat competition to beat the competitor strategy is one of the
crucial tasks for the company.

OPPORTUNITES

 Duke Pumps Ltd gets more consumers if it was used very promotional tools.
 As the product of the company is widely accepted, company has an opportunity to
cover the entire market of the submersible pump industry.

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THREATS

 High competition from local as well as multinational fins.

 Less spending on advertisement and sale promotional tools.
 High dependent on export income only.(They also concentrate on domestic sales.)
 Duke Pumps Ltd. Has large number of competitors in the market.

Imported material having variety of task can create big challenges for unit attractive packing
and size can fight against such threat.

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Part II

New Business Idea

 Problem Identification

1. Capital
You want to grow or start your new business endeavour, but you’re facing difficulties
for financing for new business owners.

2. Right Business
Two of the most crucial reasons behind failing of new entrepreneurs are the inability
of selecting the right business and doing it in the proper manner e.g. ethically.

3. Cash Flow
Small businesses can’t survive if they don’t follow cash flow guidelines and this is
probably one of the biggest problems that new entrepreneurs face. For example, you
perform a job timely, raise the invoice and get paid after a month. In the meantime,
you’ve to bear all your business related expenses like your infrastructural cost, your
employee’s salary and additionally, your personal expenses. And in case you don’t get
paid at all, only some miracle can help you out.

4. Quitting Another Career

Most of the new entrepreneurs leave their regular jobs in the overwhelming joy of
becoming self-independent. And that too with less than the amount in bank required
for living at least a month or two even without any payment whatsoever.

5. Too Many Competitors

Dealing with too many competitors in the same field.

6. Hiring Employees
The hiring process can become a nightmare for most of the new entrepreneurs. After
completing all the steps of recruitment like reviewing resumes, taking interviews etc,
at times, they end up hiring an incompetent person.

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7. Finding Customers
Finding prospective customers.

8. Time Management
Time management is probably the biggest problem, especially for the new
entrepreneurs. In your own business, you’ve to take care of everything unlike a
regular job where you only have to take care of certain tasks.

9. Finding Business Partners

Finding reliable business partners is one of the most critical jobs that a new
entrepreneur has to perform. A wrong business partner will provide you with a
negative reputation and as your reputation will be connected to your partner, you’ll be
risking the success of your endeavour somehow
.
10.Choosing What to Sell
One of the biggest reasons for the failure of new entrepreneurs is selection of the
wrong niche.

11.Strategies for Market

You’re unaware about the best possible way to market the products/services. Your
aim is to maximize your ROI with effective and targeted marketing.

12.Strapped Budget
Even when you’ve adequate cash flow, it looks like you’ve a strapped budget to
exhibit your products/services to their full potential.

13.Self-Doubt
Every new entrepreneur goes through a phase where he/she starts lacking self-
confidence and feels like quitting. It mainly happens due to initial failures and
watching the growths that are lower than expected.

40
 Solutions existing and its issues

 Though various ways are there for arranging small business funding, starting from
friends and family to conventional bank loans, many experienced entrepreneurs
believe that self-fuelled growth model is the best and less-risky one. Instead of trying
to establish a big business house overnight, aim at your primary customers. If you can
provide value added services to them, by the virtue of word-of-mouth publicity, your
business will develop automatically. However, if you need to take outside funding
anyway, don’t forget to consult an attorney to avoid future complications.

 Firstly, to attain success in your new business endeavour, you’ve to have an

outstanding product or service that adds value to your customer’s life. Secondly,
you’ve to maintain your ethics. Having said that, you’ve to deliver exactly what
you’ve committed to. Because if you fail to do so, again by virtue of word-of-mouth
publicity, you’ll hardly have your business expanded as you’ll fail to attract new
customers or retain your existing clientele. Remember – it’s easier to attract first time
customers, but it’s much more difficult to retain them.

 Money is something inevitable for living. So, quit your present job when you’ve at
least the required amount for living a standard life as a financial cushion and have a
robust business plan, or when you’re earning a standard amount from your new
business endeavour.

 Bring in something trendy and new in the market. Customers flock to a business that
offers extensive product knowledge and a wide collection of the products they’re
looking for.

 If your product/service adds value to people’s life, you don’t need to spend a huge
amount of money on advertising in the initial stages. If you’ve a great product/service,
people will automatically come to you. Just remember to keep your patience and
approach only those people who show interest in your product/service.

 You’ve to enhance your time management skills. Following are some useful tips:
Create goal lists: Make a lifetime goals list and break it down to annual, monthly,
weekly and daily goals. That way, your daily goal will be in front you and you just
have to be on track. Delegate the jobs that don’t require your personal involvement.
Simply eliminate the unnecessary tasks. Assess yourself on a regular basis.

 If you’ve a team of good employees, this job becomes much easier. Taking the help of
good outsourced agencies is another way of performing this task easily. The latter

41
 might be a little costly but it’ll help to get the tasks performed efficiently and in a time
saving manner. More importantly, remember to be absolutely specific about your
requirement so that tasks are delegated with clear guidelines, which in turn would
help to get them completed on time, in an efficient manner.

 It’s difficult to judge your partner at the first sight, but if he/she has the wrong
intentions, it’s bound to be revealed gradually. The only way out is to immediately
dissolve the relationship with your partner.

 It’s very common that being a newcomer in the entrepreneurial world, you may not
have the adequate expertise to select a profitable niche. In that case, hire a freelance
market researcher who will survey the related market e.g. the field you want to do
business in, and prepare a report of profitable niches. You can then analyze the report
and decide on your preferred niches.

 Again, it’s a useful idea to outsource the marketing part to another third party who has
adequate expertise. Prepare a marketing budget and hand it over to them and they’ll
chalk out an efficient marketing plan. Remember not to take the chance of
experimentation at this stage. You can perform that later when you’ve a productive
baseline.

 Admit that every entrepreneur faces the phases of having a strapped budget. You can
lower the number of the situations by effective marketing efforts. Spend the money
where it maximizes your ROI and stock the rest for other infrastructural and
experimental expenses.

 You’ve to overcome self-doubt to become a successful entrepreneur. Discuss the

matters within your close circle who are aware of your goals. You may even seek the
help of fellow entrepreneurs, some of whom will be ready to offer advice and show
you ways to overcome the hurdles during this phase.

 Whether you’re thinking of becoming an entrepreneur or have just entered the

domain, be prepared for these challenges. To achieve success, plan strategically,
explore the possible ways, bring in a great product or service to the market and
finally, do good business.

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Product and services development

Overview

Once you begin trading, new products and services will be very important, and investing in
their development is crucial to business growth and profitability. But the development
process can be risky and it needs considerable planning and organisation.

This guide will help you assess whether your idea can form the foundation for a successful
business and put a process in place to monitor and measure its progress.

Plan the development of your idea

Try to identify the key stages or checkpoints in the development of your idea. Each
checkpoint gives you a chance to evaluate the progress of your product or service and decide
whether you need to make any changes. It will also allow you to consider at the end of each
stage whether to progress with the idea. Any idea that has no realistic chance of success
should be dropped before too much time or money is invested.

Financing your idea

Securing adequate funding is one of the biggest obstacles many entrepreneurs face. Your
funding needs may also change during the course of product development, as it may take
longer or cost more than you first expected.

Bank loans and overdrafts are the most common ways to raise money for a new business. But
there are plenty of alternative options too, including:

Cashing in shares or other investments you may hold

 Borrowing money from family or friends

 Remortgaging your property
 Non-bank finance – eg. credit unions or peer-to-peer loans
 Government grants

43
Test the Product

Product testing is important throughout the design process. While you are developing your
product or service it’s a good idea to keep testing the market to make sure you are still on the
right track. You can do this by using

Pricing your product or service

You will need to consider your pricing policy. You should consider pricing the moment you
decide to take an idea forward as it will determine how much you can afford to invest in the
project.

Establishing a pricing strategy for a new product or service is an important part of the
development process. The price needs to be attractive to customers as well as make you a
profit.

Identifying a new idea, product or service

A new idea is often the basis for starting up a business. Many entrepreneurs spot a gap in the
market and start businesses that provide a product or service that fills it. Others come up with
ways to improve an existing product.

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 Feasibility study- marketing, technology (survey and other research
articles - primary and secondary)

 Marketing

1. Launch a referral program

If you want to develop a huge following very quickly, you need to look into referral
marketing.
This is a basic strategy where you allow customers to help promote your product for
you. It’s a simple concept, but it isn’t used nearly enough by most of the startups I’ve
seen

2. Turn your product into a challenge

One of the biggest problems with viral marketing is that it’s often difficult to tell
exactly what the company has to offer. If you create a video that everyone loves, you
might suffer a lack of recognition. A clever video might not necessarily explain your
product or even direct viewers to buy.
So, what’s the solution? Make your product the focal point of the viral marketing
campaign you decide to run.

3. Start with an exclusive beta

It’s a part of human nature: We want what we can’t have. By using a beta when you
open your start up to new users, you can create a sense of exclusivity about your
product, and get raving fans to sign up first.

4. Attend trade shows

If you’re not afraid to go offline, you can build a huge following by connecting with
influencers at conferences and trade shows. In the Ruby community, there are a
handful of live events where developers meet to discuss what’s new in programming,
like Ruby Conf and Rails Conf.

5. Become your product’s biggest user

If you’ve just started a company that involves user input, you’ll probably notice the
site struggles to gain traction with few users. This “chicken-and-egg” problem is
difficult to escape. A small user base means little content, which discourages more
users from joining.

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  TCHNOLOGY

1) Digital Product Sales

You can also sell other digital products online, like printables, access to membership
sites or even online videos.

2) Computer Setup Service

To help individuals who don’t want to go through the lengthy computer setup process
on their own, you could charge a small fee to handle that task for them.

3) Computer Training Service

Or you could teach others how to get the most out of their new devices by offering
workshops or one-on-one training sessions.

4) Online Research Service

If you’re skilled with online researching tools, you could use your expertise to
perform research for businesses and clients that need specific insights.

5) Live Chat Service

Live chat is becoming more prevalent for businesses and website owners that need a
way to communicate with customers in real time. So you could offer a plug-in or
platform to offer to those entities.

6) Analytics Service
You could also create an online platform that allows businesses or website owners to
gather analytical data about website performance, customer interactions or other
online functions.

7) Influencer Marketing Platform

Influencer marketing is becoming a huge part of online marketing for a lot of
businesses. So you could use your tech savvy to create a platform that connects
influencers with relevant brands to work with.

8) Robotics Manufacturing
If you want to get even more in-depth with your manufactured offerings, you could
create parts that go together to create robotics products.

9) Shopping App

46
 Or you could create a mobile shopping platform that lets customers browse products
and shop right from their smart phones.

 Primary market research method

Primary research is information that comes directly from source i.e. your potential customers
and is new data that has never been collated before. The ultimate goal of any primary market
research for entrepreneurs is to gain relevant insight into their target market that could not
otherwise be gleaned from existing data.

When conducting primary market research, you’re looking for one of two types of
information – either specific or exploratory. Specific research is, unsurprisingly, very precise
in its scope and involves precise questioning to help solve a problem that has often been
identified during exploratory research. Exploratory research is much more open-ended and
unstructured, encouraging lengthier responses from your chosen respondents.

There are three common ways of targeting a group of people for primary research purposes:

1. Direct mail
A direct mail questionnaire tends to feature questions that are short and to the point
and of interest to the respondent. Any direct mail questionnaire should also feature a
covering letter to adequately explain the reasons for the questionnaire.

2. Phone surveys
Telephone surveys tend to be more cost-effective than direct mail questionnaires.
Another advantage of phone interviews is speed and efficiency.
It’s possible to carry out half a dozen interviews within the space of an hour; which is
certainly far quicker than awaiting questionnaire responses by post. Telephone
interviews also allow you to cast your net further, getting responses across a wide
geographic range cheaper and quicker than direct mail.

3. Face-to-face interviews
The personal interview is one of the most effective forms of primary market research.
Whether it’s a one-to-one interview or a focus group survey, it’s a great opportunity
to build rapport with respondents and get their thoughts on product ideas, buying
preferences and purchasing decisions.

 Secondary market research methods

47
 Secondary research is industry data that’s already been compiled and organised ready
for you to utilise to your advantage. Whether it’s previous industry reports or studies
by official government bodies, trade associations and chambers of commerce or
industry competitors, secondary market data is quantitative information that can often
be procured for free or for a very low cost.

The drawbacks to secondary market research are that the data may not be customised
to fit your research requirements. So although it might be cheaper and quicker to
obtain, it might not be as useful as primary market research in terms of preparing your
business to explore new markets and regions.

Secondary market research methods can be categorised under three different sources:

1) Public sources
This category offers a host of valuable information that’s often free; from government
departments to public libraries. At the British Library, our Business & IP Centre is
home to £5m worth of current market reports from leading publishers, as well as up-
to-date information for researching key industries.

2) Commercial sources
This category is equally valuable, but most commercial data involves cost factors
such as subscription and association fees. Whether it’s a financial institution, a
research and trade association or a publicly traded corporation, it’s potentially
valuable data that, even in a general sense, can give you a good overview of a
marketplace.

3) Educational institutions
Another source of data that’s sometimes left untapped is research conducted by
colleges, universities and technical institutes.
Combining both primary and secondary market research is almost certainly the best
way to get a top-level view of the market as well as a viewpoint of the local and
regional competition. He freedom to address topics of their choosing without
extensive questioning.

48
Revenue model

49
Business Plan

1. BUSINESS DESCRIPTION
A sales training consulting firm built on the teachings and frameworks created by Dan
Tyre. Trainings will be led by certified "Tyre Trainers" and last from a single lunch-
and-learn to a
week-long training to help sales teams meet quota, use the inbound sales
methodology, and go
"from sales cub to lion."

2. COMPANY DESCRIPTION
Dan Tyre will serve as executive and consultant for the training curriculum. The day-
to-day trainings will be run by certified Tyre Trainers (trained by Tyre, himself). Tyre
trainers will be responsible for booking their own training sessions and will be held to
a monthly quota of trainings scheduled. The business will also need an office manager
and front desk associate. Mission Statement: We believe that preparation is key to
better sales. When reps are prepared, prospecting is fun and fruitful. Tyre Training
shows you how.

3. TARGET MARKET
SMB sales teams in Arizona looking to grow their reps' abilities and become more
efficient sales organizations. These sales teams have three to five reps who have been
selling for approximately five years. They have trouble meeting quota and are looking
for strategies to source better leads and connect with those leads in a meaningful way.

4. SERVICE LINE
• Lunch-and-Learn: Hour-long prospecting training session,
• Full Day Training: Seven-hour prospecting and outreach session,
• Week-Long Training: Five, seven-hour immersive training,

50
References / Bibliography:-
1. www.google.com
2. www.dukepipe.com

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