CHAPTER-I INTRODUCTION 1.1
INT INTRODUCTION ION TO THE STUDY
Retailing
The word retailing has originated from the French word "Retailers" which means, "To cut off the small price". price". Evidently the retailer trade was viewed as one that cuts off small portions from large lumps of goods. Thus retailing consists of all the activities involved in the sale of commodi commoditie tiess to the final final users users who generally generally buy in smalle smallerr quantit quantities ies for the consumption. Retail Retailing ing can be defined defined as the process process of uniting uniting consumer consumerss and market. It is the culmination culmination point of the efforts of the supply chain partners partners to meet the demand demand of the consumers. The purchase process carried carried to completi completion on requires requires consumers consumers to react react with with retailers retailers of some type. Definition by American marketing Association [A.M.A]* Accord According ing to A.M.A, A.M.A, "Retai "Retailin ling g consis consists ts of all the activi activiti ties es invo involv lved ed in sell sellin ing g directly directly to the ultimate consumer for personnel, personnel, non business busine ss use" us e"1. A retail store means any business enterprise whose sales volume comes primarily from retailing. Importance of retailing
The object object of distribu distributio tion n is to place place the goods in the hands of the final final user users. s. Retailing occurs in all the marketing channels for consumer. The object of distribution is to place the goods in the hands of the final users. Retailing occurs occurs in all all the the market marketin ing g channe channels ls for consume consumerr goods, goods, as it consis consists ts of the activi activitie tiess involved in selling directly to the ultimate consumers. Thus, retailing is the last link in the chain of distribut distribution. ion. A few it consists consists of the activities activities involved involved in selling directly directly to the ultima ultimate te consum consumers ers.. Thus, Thus, retail retailing ing is the last last link link in the chain of distri distribut bution ion.. A few few 1
MARKETING MANAGEMENT, DR.RADHA, P.T.OOMMEN AND N.S.NAIR
1
manufa manufactu cturer rers, s, of course course,, handle handle their their own retail retail dist distri ribut bution ion but most of them them rely rely on separately owned retail institutions Meaning and Definition of Retailers* 2
The term "Retailing" has its origin in the French word "Retailers" which means "to cut off a small piece". Evidently, the retail trade was viewed as one that cuts off small
portions from large lumps of goods. Thus, retailing consists of the activities involved in the sale of commodities commodities to the final user who generally buy in smaller quantities for consumption cons umption.. Basic Characteristics of the Retailers
o The retailer generally generally sells in in small quantities. quantities. However, he is not prohibited prohibited in selling large quantities o
He is the last link link in the chain chain of distri distribut bution ion.. In other other words, words, he sells sells only to the persons persons for their their personal use use and not for the purpose of resale. resale. o He may buy the goods from the wholesalers or manufacturers either on his own account or as an agent for them. o Since he deals in smaller quantities, his sales volume is less when compared to the wholesaler whereas, his profit margin is high.
Functions of the Retailers
1) the
Just Just lik likee the who whole lesa sale ler, r, the the ret retai aile lerr also also per perfo form rmss all all funct functio ions ns invo involv lved ed in in process of marketing. They are:
2
2)
Buyi Buying ng and and asse assemb mbli ling ng of goods goods from from vari variou ouss prod produc ucer erss or whol wholes esal aler ers. s.
3)
Storing of of th the go goods so so as assembled.
4)
Risk-bearing.
5)
Tran Transp spor orta tati tion on of good goodss from from the the god godow own n of whol wholes esal aler ers. s.
6)
Grading an and pa packaging.
7)
Providing market information.
8)
Ext Extensi ension on of cred credit it faci facili liti ties es to the the con consu sume mers rs..
9)
Selling.
MARKETING MANAGEMENT, DR.RADHA, P.T.OOMMEN AND N.S.NAIR
2
Services of the Retailers
The functions of a retailer clearly reveal his importance in the distribution channel. While performing such functions he renders the following valuable services to producers, wholesalers and also to the consumers.
1.2
INDUSTRY PROFILE
STEEL
Steel is an alloy consisting mostly of iron, with a carbon content between 0.2 and 1.7 or 2.04% by weight (C:1000–10,8.67Fe), depending on grade. Carbon is the most costeffective alloying material for iron, but various other alloying elements are used such as manganese, chromium, vanadium, and tungsten.[1] Carbon and other elements act as a hardening hardening agent, preventing preventing dislocations dislocations in the iron atom crystal crystal lattice lattice from sliding sliding past one another. Today, steel is one of the most common materials in the world and is a major component in buildings, tools, automobiles, and appliances. Modern steel is generally identified by various grades of steel defined by various standards organizations. CASTING
Casting Casting is a manufacturi manufacturing ng process process by which a liquid liquid material material is (usually) (usually) poured into a mold, which contains a hollow cavity of the desired shape, and then allowed to solidify. The solid casting is then ejected or broken out to complete the process. Casting may be used to form hot liquid metals or various materials that cold set after mixing of components (such as epoxies, concrete, plaster and clay). Casting is most often used for making complex shapes that would be otherwise difficult or uneconomical to make by other methods. Casting is a 6000 year old process. The oldest surviving casting is a copper frog from 3200 BC. The casting process is subdivided into two distinct subgroups: expendable and nonexpendable mold casting.
3
STEEL CASTING
Steel casting is a manufacturing process in which molten metal is poured into a mold, allowed to solidify within the mold, and then the mold is broken and the solid piece is taken out. Casting is used for making parts of complex shape that would be difficult or uneconomical to make by other methods. Steel Castings are especially adapted for parts that must withstand wear, shocks or heavy loads. They are stronger than wrought iron, cast iron or malleable iron and are very tough. Types of Casting
1.3
•
Plain Carbon steel Castings
•
High Alloy Steel Castings
•
Manganese Steel Castings
•
Hi Chrome Castings
•
Ni-Hard Castings
•
SG Iron Castings
•
Stainless steel Castings
•
Heat Resistant Cast Steel
•
Pod Castings
COMPANY PROFILE
Company profile and product profile
Paragon steel is one of the largest established private companies in south India Paragon steel is a specialist re-rolling company engaged in the production of TMT bars for the construction industry. The company is an integral part of renowned MPS group which has built a reputation as proved of quality steel products.
4
The speed of MPS group were sown over 2 decade ago with its entry into the ferrous and non-ferrous scrap trade-in 1992 saw the group venture into steel production with the establishment of 2 Induction melting furnaces for the manufacture of MS ingots. The next logical step forward was the production of steel production of steel product with a unit to manufacture CTD bars. The foray into value added steel products including TMT bars, Flats, Squares, rounds, and angles. The product has played an important role in driving the construction boom in the south Indian States.
The MPS Group's production infrastructure today encompasses 6 units with a capacity to produce 2.5 million lakh TPA of MS Ingots & Steels products. The Group ("Raja' m 'Paragon' represent the strength and traditions of the company from its pioneering origins. Today these brands as the market leaders providing high levels of trusted and inspired steel solution to its customers. In conjunction with 'Paragon', the brand have been the leading name in the building and construction industry which is synonymous with quality.
The product is BIS certified and the group is in the process of gaining ISO certification for all its units. Quality apart, what has differentiated the MPS groups has been its strong environment consciosness. AII its production facilities are fully in conformance with environment norms and the Group endeavor to continuously enhance its commitment to green manufacturing.
Paragon steel stand in side of technology and in quality to bring the best over the year's .It has evolved to become one of most reliable and excellent rolling mill. Paragon promises and fulfills safety, quality, reliability and strength in the steel industry.
The company runs with the fully networking system in its administration with the latest infrastructural facility and machinery which handles up to an average of 450 tones in loading and unloading dock. It also handles its own production of Fe415/500.Worrking in
5
tandem with company enables production from raw materials\to end-product with a strong focus on superior quality and reliable delivery.^ The paragon strictly follows the BIS standards in manufacturing and produces 6mm to 32mm of CTD & TMT bars which are^ in tested by UTM, in physical laboratory. The company has achieved the certificate of ISI-1786-CM/L-647387 and ISO 9001-2000 for installation of pollution control devices and meeting the latest standard in the industrial area.
Near about 85% of the scraps are imported from countries like U.S, U.K, Middle -East and Africa The company with its mega structure has two melting divisions and also handles up to 60,000 tones per annum. The Thermo Mechanical treatment process consists of an online heat treatment in two successive phases.! TMT Technology
The TMT process imparts high strength to the bars using the latest technology .TMT is produced by thermo-mechanical treatment and not by cold twisting .therefore there are no torsional residual stress in the bar .which result in corrosion resistance characteristics. WELDABILITY
Paragon steel due its low carbon equivalent, has weldability which is superior to conventional cold twisted bars. It can be Butt-Welded or Lap-Welded using ordinary rutile coated electrodes of matching strength. Achievements & Awards
Achieved the certificate of ISI—1786-CM/L6487387 and ISO 9001-2000. Installation of pollution control devices meeting the latest standards in the Industrial area. Received the prestigious DHATU NAYAK award 2004 for excellence in performance and development work in steel industry in South India.
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Salient features of paragon steel 1. SOLE Entrepreneur with a land structure of 25 acres. 2. An overview Central Workshop of 5000 sq.feet. 3. Well qualified and experienced staff and manage ment with timeless effort and
services. 4.
Stock yard cell with storing capacity up to 10000 Tones (One of its mega kind in the district).
1.4
THEORETICAL BACKGROUND
Retailer satisfaction
Retailer satisfaction is a retailers' feeling of pleasure or disappointment resulting from comparing a company's perceived performance or outcome in relation to his or her expectations. If the performance exceeds expectations, retailers are highly satisfied or delighted. Every manufacturers or producers are aiming for the sky scraping satisfaction of retailers, because they are the core players in their businesses. Retailers who are just satisfied still find it easy to switch when a better offer comes along. While those who are highly satisfied are much less ready to switch. High satisfaction create retailer an emotional bond with the brand; not just rational preference. The result is high retailer loyalty. Essential Requisites for Success in Retailing
The success of the retailer depends upon his ability in attending to the varying needs and tastes of the customers. In fact; building up the customer's satisfaction is more vital than making a sale. A satisfaction customer is the retailers' best advertiser. Effective retailing requires a number of qualities and personal traits on the part of the retailers. Personal aptitude, enthusiasm, foresight, tactics, patience, business morality, firmness and courage are the basic qualities of a successful retailer. Besides, there are certain other requirements for an efficient retailing. They are: •
Selection of Goods: The retailer must be up -to-date in the selection of goods to be stocked
by him. Mere heavy stock would not attract the customers if they are out of date or unsaleable. The existence of such dead stock shall even ruin the retailer's business.
7
•
Effective Buying: Effective buying means buying of goods in the right market, at the right
time and at the right place. This alone will enable the retailer to offer competitive prices and thereby attract more customers. •
Proper Location: The volume of sales is largely influenced by the location of the shop. The
retail unit must be situated at places of attraction. The best location is one where similar shops already exist. •
Display of Goods: The goods must be orderly arranged and effectively displayed to draw
the attention of the customers. Counter displays and window displays are very effective in appealing to the shopping public and securing soling business. •
Employment of Trained Salesmen: The volume of sales of the retailer is also determined by
the efficiency of the salesmen of the retailers. Only a trained salesman shall remain balanced, polite, attentive and disciplined in his work. Hence, the retailer must employ only properly trained salesmen. •
Advertising: Though the manufactures undertake the task of advertising their products,
the retailers must
also undertake advertising. They must make suitable advertising so
that the customers may be persuaded to visit their shops. However, he need not indulge in intensive advertising campaigns. Merits of Independent Stores: There is a greater flexibility and freedom of action in the independent stores. There is no need for procedural formalities in the management process because they are generally owned by individuals or partnership. Operational expenses are generally low. Besides, the retailer can offer the following advantages to the customers: •
Personal relationship with the customers.
•
Convenience of being located nearer to the customers' houses.
•
Catering for more to the individual needs.
•
Greater flexibility in offering credit.
•
Low overhead charges.
•
More flexibility in providing delivery services. 8
1.5
LITERATURE BACKGROUND
According to Kapferer (1997), four factors combine in the mind of the consumer to determine the perceived value of the brand: brand awareness; the level of perceived quality compared to competitors; the level of confidence, of significance, of empathy, of liking; and the richness and attractiveness of the images conjured up by the brand. The relationships between the different concepts of brand analysis are summarized in this study. Kapferer (1997) mentions that before the 1980’s there was a different approach
towards brands. “Companies wished to buy a producer of chocolate or pasta: after 1980, they wanted to buy KitKat or Buitoni. This distinction is very important; in the first case firms wish to buy production capacity and in the second they want to buy a place in the mind of the consumer” (p. 23). In other words, the shift in focus towards brands began when it was understood that they were something more than mere identifiers. Brands, according to Kapferer (1997) serve eight functions shown in Table 2.1: the first two are mechanical and concern the essence of the brand: “to function as a recognized symbol in order to facilitate choice and to gain time” (p. 29); the next three are for reducing the perceived risk; and the final three concern the pleasure side of a brand. He adds that brands perform an economic function in the mind of the consumer, “the value of the brand comes from its ability to gain an exclusive, positive and prominent meaning in the minds of a large number of consumers” (p. 25). Therefore branding and brand building should focus on developing brand value. Before the shift in focus towards brand s and the brand building process, brands were just another step in the whole process of marketing to sell products. “For a long time, the brand has been treated in an off-hand fashion as a part of the product” (Urde 1999,). Kotler (2000) mentions branding as “a major issue in product strategy” (p. 404). As the brand was only part of the product, the communication strategy worked towards exposing the brand and creating brand image.
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According to the brand orientation model, “the starting point for a process of brand building is to first create a clear understanding of the internal brand identity. The brand then becomes a strategic platform that provides the framework for the satisfaction of customers’ wants and needs” (Urde 1999) . The point of departure for a brandoriented company is its brand mission. Urde’s Brand Hexagon (1999), shown in Figure 2.2, integrates brand equity and
brand identity with a company’s direction, strategy and identity. The right side of the model reflects the reference function -product category and product, which are analyzed rationally-, while the left side of the model reflects the emotional function –corporate and brand name, which are analyzed emotionally. “A brand is experienced in its entirety” (p. 126), which means that both emotions and rational thought are involved. The lower part of the model -mission and vision- reflects the company’s intentions towards the brand, while the upper part reflects the way that target consumers interpret the brand. At the center of the model lies the core process of brand meaning creation, which includes the positioning and core values. Urde (1999) presents Brand Orientation as another brand building model that
focuses on brands as strategic resources. “Brand Orientation is an approach in which the processes of the organization revolve around the creation, development, and protection of brand identity in an ongoing interaction with target customers with the aim of achieving lasting competitive advantages in the form of brands” (p. 117-118). Brand orientation focuses on developing brands in a more active and deliberate manner, starting with the brand identity as a strategic platform. It can be said that as a consequence of this orientation the brand becomes an “unconditional response to customer needs and wants” (p. 120). This should be, however, considered carefully given that “what is demanded by customers at any given moment is not necessarily the same as that which will strengthen the brand as a strategic resource” (p. 121). Following this reasoning, “the wants an needs of customers are not ignored, but they are not allowed to unilaterally steer the development of the brand and determine its identity” (p. 122). The central concern of brand building literature experienced a dramatic shift in the
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last decade. Branding and the role of brands, as traditionally understood, were subject to constant review and redefinition. A traditional definition of a brand was: “the name, associated with one or more items in the product line, that is used to identify the source of character of the item(s)” (Kotler 2000, p. 396). The American Marketing Association (AMA) definition of a brand is “a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors” (p. 404). Within this view, as Keller (2003a) says, “technically speaking, the n, whenever a marketer creates a new name, logo, or symbol for a new product, he or she has created a brand” (p. 3). He recognizes, however, that brands today are much more than that. As can be seen, according to these definitions brands had a simple and clear function as identifiers. Aaker and Joachimsthaler (2000) mention that within the traditional branding
model the goal was to build brand image ; a tactical element that drives short-term results. Kapferer (1997) mentioned that “the brand is a sign -therefore external- whose function is to disclose the hidden qualities of the product which are inaccessible to contact” (p. 28). The brand served to identify a A Brand Building Literature Review product and to distinguish it from the competition. “The challenge today is to create a strong and distinctive image” (Kohli and Thakor 1997, p. 208).
Concerning the brand management process as related to the function of a brand as an identifier, Aaker and Joachmisthaler (2000) discuss the traditional branding model where a brand management team was responsible for creating and coordinating the brand’s management program. In this situation, the brand manager was not high in the company’s hierarchy; his focus was the short-term financial results of single brands and single products in single markets. The basic objective was the coordination with the manufacturing and sales departments in order to solve any problem concerning sales and market share. With this strategy the responsibility of the brand was solely the concern of the marketing department (Davis 2002). In general, most companies thought that focusing on
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the latest and greatest advertising campaign meant focusing on the brand (Davis and Dunn 2002). The model itself was tactical and reactive rather than strategic and visionary (Aaker and Joachimsthaler 2000). The brand was always referred to as a series of tactics and never like strategy (Davis and Dunn 2002). Doyle (2001) Kapferer’s view of brand value is monetary, and includes intangible
assets. “Brands fail to achieve their value-creating potential where managers pursue strategies that are not orientated to maximizing the shareholder value”. Aaker and Joachimsthaler (2000) leave behind the traditional branding model
and introduce the brand leadership model, “which emphasizes strategy as well as tactics”. In this model, the brand management process acquires different characteristics: a strategic and visionary perspective; the brand manager is higher in the organization, has a longer time job horizon, and is a strategist as well as communications team leader; building brand equities and developing brand equity measures is the objective; and, brand structures are complex, as the focus is on multiple brands, multiple products, and Target Audience, Product, Vision & Mission, Brand name, Product Category, Company Name, Positioning:Core Values, Personality Quality, Communication, multiple markets. In short, brand identity and creating brand value become the drivers of strategy. 1) Awareness, 2) Associations, 3) Loyalty
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1.6
STATEMENT OF THE PROBLEM
Constructional and Structural products market in Kanjikode has got various players. Every seller should be competitive and offers quality products in the market. Distribution network established determines the sale of the product to a greater extent. Due to the prevailing heavy competition in the market, an effort has been made to survey the dealer’s perception and satisfaction for Paragon Steel Products. A study with consistency is required to comprehend the level of dealer’s survey. The survey depends on the perception of the respondents. Hence, a comparative study was made to identify the satisfaction and dealers attitude towards Paragon Steel in Kanjikode District. The factors for satisfaction were identified by analyzing the data collected and suggested suitable measures to the company so as to improve the attitude to stock Paragon Steel and to realize much more satisfaction of the dealers.
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1.7
OBJECTIVES OF THE STUDY
1.To study the dealer’s perception towards the services offered by Paragon products. 2.To know the grievances of the dealers, if any. 3.To suggest measures to improve the services of Paragon products..
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1.8
LIMITATIONS OF THE STUDY
The following are the limitations of the study.
The findings are based on the data furnished by the respondents.
This study is confined to the geographical limits of Palakkad District.
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CHAPTER-II RESEARCH METHODOLOGY 2.1
RESEARCH DESIGN
The methodology of research work provides an outline and a frame work of how the work is conducted.
It is a systematic and scientific way of solving the research
problems. The research design chosen is descriptive as the study reveals the state of facts existing.
Descriptive research studies are those studies which are concerned with describing the characteristics of a particular individual, or a group. The study is concerned whether certain variables are associated with the study. And also the study is concerned with specific predictions, with narration of facts and characteristics concerning an individual, group or situation. 2.2 Nature of Data
In the study primary data and secondary data was administered. Primary Data
Primary data was collected from dealers. Primary data was collected through a survey. Secondary data
Secondary data are those data that already exists. Secondary data was collected through company profile, magazines and websites. 2.3 Area of the study
Direct dealers, real estate people, constructional companies existing in Palakkad district are considered as the area of the study.
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2.4 Sampling Method Sample size
Sample size refers to the selected number of units from the population to collect data. In this study a sample of 110 dealers are selected. Sampling Technique
Convenience sampling method (Non-probability sampling) was used to select samples. 2.5 Data Collection Method
The data-collecting instrument used for obtaining the desired information was a questionnaire.
The questionnaire was structured and directed so as to make the
respondents understand it easily.
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CHAPTER-III ANALYSIS AND INTERPRETATION Table No.3.1 Brands dealt by the retailers Multi Response Table Sl. No.
Brands
No. of Respondents
Percentage
01.
Prince TMT Bars
79
72
02.
Metrola Steels
45
41
03.
Minar TMT
56
51
04.
South Malabar Steels TMT
92
84
05.
Paragon
110
100
Source : Primary Data Interpretation
The above table shows that majority (84%) of the respondents deal with South Malabar TMT’s, whereas 72% of the respondents deals with Prince TMT Bars, 51% of the respondents deals with Minar TMT and the remaining 41% of the respondents deals with Metrola steels. All (100%) of the respondents are Paragon steel dealers. Inference
Majority (84%) of the respondents deal with South Malabar TMT’s and all (100%) of the respondents are Paragon steel dealers.
18
120
Chart No. 3.1 Brands dealt by the retailers
19
Table No. 3.2 Years of experience in dealership Sl. No.
Experience
No. of Respondents
Percentage
01.
0 to 5 years
22
20
02.
5 to 10 years
21
19
03.
10 to 15 years
24
22
04.
15 to 20 years
21
19
05.
More than 20 years
22
20
110
100
Total Source : Primary Data Interpretation
It is clear from the above table that 22% of the respondents have 10 to 15 years experience, 20% of the respondents had more than 20 years experience another 20% of the respondents had less than 5 years experience and 19% of the respondents had 5 to 10 years and 15 to 20 years experience respectively. Inference
22% of the respondents have 10 to 15 years experience.
20
22.5
22 Chart No. 3.2 Years of experience in dealership
21
Table No. 3.3 Dealership with paragon steels Sl. No.
Experience in dealing paragon steels
No. of Respondents
Percentage
01.
0 to 5 years
31
28
02.
5 to 10 years
24
22
03.
10 to 15 years
32
29
04.
More than 15
23
21
110
100
Total Source : Primary Data Interpretation
It is understood from the above table that 29% of the respondents have 10 to 15 years experience in dealing with paragon steels, 28% of the respondents have less than 5 years experience, 22% of the respondents have 10 to 15 years experience and the remaining 21% of the respondents have more than 15 years experience. Inference
29% of the respondents have 10 to 15 years experience in dealing with paragon steels.
22
35
Chart No. 3.3 Dealership with paragon steels
28 23
Table No. 3.4 Preference for paragon brand (Multi Response Table) Sl. No.
Preference
No. of Respondents
Percentage
01.
Price
96
87
02.
Prompt supply
84
76
03.
Availability
90
82
04.
Convenience
66
60
Source : Primary Data Interpretation
The above table shows that majority (87%) of the respondents stated price as the major factor for preferring paragon steel, 82% indicated availability at all times, 76% of the respondents opined prompt supply and the remaining 60% of the respondents expressed convenience. Inference
Majority (87%) of the respondents stated price as the major factor for preferring paragon steel.
24
100
90 Chart No. 3.4 Preference for paragon brand
25
Table No. 3.5 Handling other companies dealership Sl. No.
Opinion
No. of Respondents
Percentage
01.
Yes
110
100
02.
No
0
0
110
100
Total Source : Primary Data Interpretation
The above table shows that all (100%) of the respondents stated that other companies are also included along with paragon steel. Inference
All (100%) of the respondents stated that other companies are also included along with paragon steel.
26
100 Chart No. 3.5 Handling other companies dealership
27
Table No. 3.6 Opinion on selling paragon products as an easy task with other products Sl. No.
Opinion
No. of Respondents
Percentage
01.
Strongly agree
66
60
02.
Agree
28
25
03.
Neutral
16
15
04.
Disagree
0
0
05.
Strongly Disagree
0
0
110
100
Total Source : Primary Data Interpretation
The above table reveals that most (60%) of the respondents strongly agree that selling paragon products as an easy task when compared to other brands, 25% of the respondents agree and the remaining 15% of the respondents do not have any opinion. Inference
Most (60%) of the respondents strongly agree that selling paragon products as an easy task when compared to other brands
28
70
60 Chart No. 3.6 Opinion on selling paragon products as an easy task with other products
29
Table No. 3.7 Distance between the shop and the nearest whole sale depot Sl. No.
Distance
No. of Respondents
Percentage
01.
5 to 10 kms.
68
62
02.
10 to 15 kms
24
22
03.
15 to 20 kms.
18
16
04.
More than 20 kms.
0
0
110
100
Total Source : Primary Data Interpretation
It is understood from the above table that most (62%) of the respondents stated that their shop and the nearest whole sale depot is available in 5 to 10 kms. distance, 22% of the respondents indicated between 15 to 20 kms. distance and the remaining 16% of the respondents expressed that their shop and depot is between 15 and 20 kms. distance. Inference
Most (62%) of the respondents stated that their shop and the nearest whole sale depot is available in 5 to 10 kms. distance
30
70
6
Chart No. 3.7 Distance between the shop and the nearest whole sale depot
31
Table No. 3.8 Opinion on relationship with the nearest dealer Sl. No.
Opinion
No. of Respondents
Percentage
01.
Strongly agree
35
32
02.
Agree
48
44
03.
Neutral
27
25
04.
Disagree
0
0
05.
Strongly Disagree
0
0
110
100
Total Source : Primary Data Interpretation
It is clear from the above table that less than half (44%) of the respondents agree about the best relationship with the nearest dealer, 32% of the respondents strongly agree and the remaining 25% of the respondents opined neutral. Inference
Majority (76%) of the respondents agree that they have good relationship with the nearest dealer.
32
50
45 Chart No. 3.8 Opinion on relationship with the nearest dealer
33
Table No. 3.9 Time of high demand for constructional steel products Sl. No.
Opinion
No. of Respondents
Percentage
01.
January-March
37
34
02.
April-June
24
22
03.
July-September
21
19
04.
October-December
28
25
110
100
Total Source : Primary Data Interpretation
The above table shows that 34% of the respondents indicated that the time of high demand for constructional steel products is during January-March, 25% of the respondents opined during October-December, 22% stated during April-June and the remaining 19% of the respondents expressed during July-September. Inference
34% of the respondents indicated that the time of high demand for constructional steel products is during January-March
34
40
35 Chart No. 3.9 Time of high demand for constructional steel products
35
Table No. 3.10 Services offered by Paragon Steels Sl. No.
Opinion
No. of Respondents
Percentage
01.
Excellent
30
27
02.
Good
57
52
03.
Average
23
21
04.
Bad
0
0
110
100
Total Source : Primary Data Interpretation
The above table shows that more than half (52%) of the respondents feel that the company offers good services to its retailers, 27% of the respondents stated excellent and the remaining 21% of the respondents opined average. Inference
More than half (52%) of the respondents feel that the company offers good services to its retailers
36
60
Chart No. 3.10 Services offered by Paragon Steels
37
Table No. 3.11 Sales target set by the company to its dealers Sl. No.
Opinion
No. of Respondents
Percentage
01.
High
23
21
02.
Medium
71
65
03.
Low
16
15
110
100
Total Source : Primary Data Interpretation
The above table shows that most (65%) of the respondents feel that the company sets medium targets to its dealers, 21% of the respondents felt high and the remaining 15% of the respondents felt low about the sales target set by the company to its dealers. Inference
Most (65%) of the respondents feel that the company sets medium targets to its dealers
38
70
Chart No. 3.11 Sales target set by the company to its dealers
39
Table No. 3.12 Achieving the sales target as an easy task Sl. No.
Opinion
No. of Respondents
Percentage
01.
Strongly agree
18
16
02.
Agree
15
14
04.
Disagree
42
38
05.
Strongly Disagree
35
32
110
100
Total Source : Primary Data Interpretation
It is evident from the above table that 38% of the respondents disagree that achieving the sales target as an easy task, 32% of the respondents strongly disagree, 16% of the respondents strongly agree and the remaining 14% of the respondents agree that achieving the sales target as an easy task. Inference
Majority (70%) of the respondents disagree to the statement that achieving sales target is an easy task
40
40
35 Chart No. 3.12 Achieving the sales target as an easy task
41
Table No.3.13 Sales promotional activities of Paragon Steels Sl. No.
Opinion
No. of Respondents
Percentage
01.
Highly Satisfied
48
44
02.
Satisfied
24
22
03.
Neutral
15
14
04.
Dissatisfied
12
11
05.
Highly Dissatisfied
11
10
110
100
Total Source : Primary Data Interpretation
The above table shows that less than half (44%) of the respondents are highly satisfied towards the sales promotional activities carriedout by Paragon Steel, 22% of the respondents are satisfied, 14% of the respondents had neutral opinion, 11% of the respondents are dissatisfied and the remaining 10% of the respondents are highly satisfied towards the sales promotional activities carried out by Paragon steel. Inference
Majority (66%) of the respondents are satisfied towards the sales promotional activities carried out by Paragon Steel
42
50
45 Chart No. 3.13 Sales promotional activities of Paragon Steels
43
44
Table No. 3.14 Customer complaints about the grade Sl. No.
Opinion
No. of Respondents
Percentage
01.
Yes
7
6
02.
No
103
94
110
100
Total Source : Primary Data Interpretation
The above table shows that most (94%) of the respondents stated there is no complaints about the grade of the product and 6% of the respondents had some complaints about the grade of the product. Inference
All Most (94%) of the respondents stated there is no complaints about the grade of the product
44
100 Chart No. 3.14 Customer complaints about the grade
45
Table No. 3.15 Satisfaction about remedial measures by the company to handle the grievance Sl. No.
Opinion
No. of Respondents
Percentage
01.
Highly Satisfied
18
16
02.
Satisfied
43
39
03.
Neutral
39
35
04.
Dissatisfied
10
9
05.
Highly Dissatisfied
0
0
110
100
Total Source : Primary Data Interpretation
The above table shows that 39% of the respondents are satisfied towards the remedial measures taken by the company to handle the grievance of its customers, 35% of the respondents had neutral opinion, 16% of the respondents are highly satisfied and the remaining 9% of the respondents are dissatisfied towards the remedial measures taken by the company to handle the grievance of its customers. Inference
Only (55%) of the respondents are satisfied towards the remedial measures taken by the company to handle the grievance of its customers
46
45
40 Chart No. 3.15 Satisfaction about remedial measures by the company to handle the grievance
47
Table No. 3.16 Time frame to process the order by the company Sl. No.
Opinion
No. of Respondents
Percentage
0 1.
Very Fast
74
67
0 2.
Medium
20
18
0 3.
Slow
16
15
110
100
Total Source : Primary Data Interpretation
The above table shows that most (67%) of the respondents stated as very fast about the time frame to process the order by the company, 18% of the respondents indicated medium and the remaining 15% of the respondents reported as slow to process the order by the company. Inference
Most (67%) of the respondents stated as very fast about the time frame to process the order by the company
48
80
70 Chart No. 3.16 Time frame to process the order by the company
49
Table No. 3.17 More advertisement needed to overcome the competition Sl. No.
Opinion
No. of Respondents
Percentage
0 1.
Yes
42
38
0 2.
No
68
62
110
100
Total Source : Primary Data Interpretation
It is understood from the above table that most (62%) of the respondents do not feel feel that that more more adve advert rtis isem ement ent neede needed d to overc overcom omee the the comp compet etit itio ion n and 38% 38% of the the respondents felt more advertisement is needed to ov ercome the competition. Inference
Most (62%) of the respondents do not feel that more advertisement needed to overcome the competition
50
70 Chart No. 3.17 More advertisement needed to overcome the competition
51
Table No. 3.18 Medium preferred for promotion Sl. No.
Opinion
No. of Respondents
Percentage
01.
Television
18
43
02.
Internet
3
7
03.
Radio
15
36
04.
Newspaper
6
14
05.
Magazine
0
0
42
100
Total Source : Primary Data Interpretation
The above table shows that 43% of the respondents preferred television as the medium preferred for promotional activities, 36% of the respondents preferred Radio, 14% preferred Radio and the remaining 7% of the respondents preferred internet. Inference
43% of the respondents preferred television as the medium preferred for promotional activities.
52
50
45 43 Chart No. 3.18 Medium preferred for promotion
53
Table No. 3.19 Selection of product based on the attributes Sl. No.
Opinion
No. of Respondents
Percentage
01.
Better Fatigue Strength
72
65
02.
High Creep Resistance
11
10
03.
Corrosion Free
14
13
04.
Fire Resistance & Retention
7
6
05.
Malleability
6
5
110
100
Total Source : Primary Data Interpretation
The above table shows that most (65%) of the respondents rated better fatigue strength for selection of paragon products, 13% of the respondents rated corrosion free attribute for selection of the product, 10% of the respondents opined high creep resistance, 6% of the respondents indicated fire resistance and retention and the remaining 5% of the respondents selected paragon steel for its Malleability. Inference
Most (65%) of the respondents rated better fatigue strength for selection of paragon products
54
70 65
Chart No. 3.19 Selection of product based on the attributes
55
Table No. 3.20 Level of satisfaction based on the attributes Attributes
5-HS
4-S
3-N
2-DS
1-HDS
SCORE
RANK
Availability
15
12
78
4
1
3.33
5
Quality
62
11
31
3
3
4.15
1
Price of the product
28
41
38
1
2
3.84
2
Product Delivery
18
33
37
12
10
3.34
4
Affordability
24
30
36
14
6
3.47
3
Source : Primary Data Interpretation
From the above table it is clear that with the high score of 4.15 quality stands first, whereas with the score of 3.84 price of the product obtained second position, with the score of 3.47 affordability secured the third position, while with the score of 3.34, product delivery gained fourth position and finally affordability with the score of 3.33 got the fifth position.
56
Chart No. 3.20 Level of satisfaction based on the attributes
57
Table No. 3.21 Level of satisfaction of Paragon steels when compared with other products Attributes
Brand image Service Satisfaction Discount / Incentives Supply
5-HS
4-S
3-N
2-DS
1-HDS
SCORE
RANK
68
15
24
2
1
4.34
2
51
54
2
2
1
4.38
1
11
59
23
11
6
3.53
4
44
28
30
5
3
3.95
3
Source : Primary Data Interpretation
From the above table it is understood that with the high score of 4.38 service satisfaction stands first, whereas with the score of 4.34 brand image of the product obtains second position, whereas with the score of 3.95 supply of the product secured the third position, and finally discount / incentives with the score of 3.53 got the fourth position.
58
Chart No. 3.21 Level of satisfaction of Paragon steels when compared with other products
59
CHAPTER-IV FINDINGS AND SUGGESTIONS 4.1 FINDINGS
Majority (84%) of the respondents deal with South Malabar TMT’s and all (100%)
of the respondents are Paragon steel dealers.
22% of the respondents have 10 to 15 years experience.
29% of the respondents have 10 to 15 years experience in dealing with paragon steels.
Majority (87%) of the respondents stated price as the major factor for preferring
paragon steel.
All (100%) of the respondents stated that other companies are also included along
with paragon steel.
Most (60%) of the respondents strongly agree that selling paragon products as an
easy task when compared to other brands
Most (62%) of the respondents stated that their shop and the nearest whole sale
depot is available in 5 to 10 kms. distance
Majority (76%) of the respondents agree that they have good relationship with the
nearest dealer.
34% of the respondents indicated that the time of high demand for constructional
steel products is during January-March
More than half (52%) of the respondents feel that the company offers good services
to its retailers Most (65%) of the respondents feel that the company sets medium targets to its dealers
60
Majority (70%) of the respondents disagree to the statement that achieving sales
target is an easy task
Majority (66%) of the respondents are satisfied towards the sales promotional
activities carried out by Paragon Steel
Most (94%) of the respondents stated there is no complaints about the grade of the
product
Majority (55%) of the respondents are satisfied towards the remedial measures
taken by the company to handle the grievance of its customers
Most (67%) of the respondents stated as very fast about the time frame to process
the order by the company
Most (62%) of the respondents do not feel that more advertisement needed to
overcome the competition
43% of the respondents preferred television as the medium preferred for
promotional activities.
Most (65%) of the respondents rated better fatigue strength for selection of paragon
products
It is clear that with the high score of 4.15 quality stands first, whereas with the score of
3.84 price of the product obtained second position, with the score of 3.47 affordability secured the third position, while with the score of 3.34, product delivery gained fourth position and finally affordability with the score of 3.33 got the fifth position.
It is understood that with the high score of 4.38 service satisfaction stands first, whereas
with the score of 4.34 brand image of the product obtains second position, whereas with the
61
score of 3.95 supply of the product secured the third position, and finally discount / incentives with the score of 3.53 got the fourth position. 4.2
SUGGESTIONS
Few retailers suggested that the reduction in price of the product is a must and need of the hour.
Some of the retailers stated that the product needs improvement in availability
Least of the retailers suggested that they need improvement in quality of the product.
Some customers suggested that the company should acquire necessary information and asses the feedback about the market potential, positives / negatives and gather the fruitful suggestions contributed by the dealers and apply the same for further enhancement of the business strategies.
The market potential should be analysed and tapped regularly by providing extra incentives as a sales promotional strategy to further boost the company’s sales.
Product quality demonstration, seminars and newspaper advertisement are effective promotional tools. If the frequencies of these are increased it will increase the sales.
The sub-dealers are not rewarded as that of the dealers for their sales. So the company should reward the sub-dealers for the work they are doing.
62
