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Market Research

Summer Internship Project Report

Indian Institute of Management, Rohtak

Submitted By: Submitted to:

Pooja Gupta Indian Institute of Management Rohtak

Under the Mentorship of:

DR. TAPAS K. MALLICK


Table of Contents

S.No. Title Page


Number
1. Introduction .................................................................................................................... 3
1.1 About the Company................................................................................................. 3
1.2 Our Valued Customers: ........................................................................................... 5
1.3 Diviniti Products ...................................................................................................... 5
1.4 Area of Study .......................................................................................................... 6
1.5 Importance of the Project ........................................................................................ 6
1.6 Four key steps Excellence in marketing program .................................................... 8
1.7 Significance of the study ......................................................................................... 8
1.8 Review of the existing literature ............................................................................... 9
2. Background ...................................................................................................................10
2.1 Problem..................................................................................................................10
2.2 Focus of the problem..............................................................................................10
2.3 Objectives of Customer Relationship Management ................................................10
2.4 Proposed Solution ..................................................................................................10
2.5 Key Factors ............................................................................................................10
3. Research .......................................................................................................................11
3.1 Methodologies Accepted ........................................................................................11
3.2 Research design ....................................................................................................11
3.3 Scope of the study .................................................................................................11
3.4 Collection of the data..............................................................................................11
3.5 Data collection........................................................................................................11
3.6 Data Collection and Segregation ............................................................................12
3.7 Tools and Computations Used ...............................................................................12
4. Results ..........................................................................................................................13
4.1 Results and Interpretations.....................................................................................14
4.2 Interpretation ..........................................................................................................14
5. Recommendations ........................................................................................................15
5.1 Summary................................................................................................................15
5.2 Conclusion .............................................................................................................16
5.3 Scope of further Study............................................................................................16
6. Reference .....................................................................................................................17

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ABSTRACT
The objective of the project was “To do MARKET RESEARCH and to understand product’s
current scenario in the growing market” for DIVINITI INDIA, for that we have to understand
the customer needs, pricing constraints, response, competition, emotions and belief
regarding the product, so that they can contribute their valuable inputs. The objective of this
study was to analyze and maintain good relationship with the king - the customer.
The project started on 1st April after knowing all the relevant information regarding the
project, under the guidance of to Mr. Babal Gupta (Senior President Marketing and
Sales).
The project was done with four major market leader automobiles in India which consists
Maruti Suzuki, Honda, Toyota, Hyundai. This opportunity provided great insights about
automobile industry, Automobile Accessories and how to use marketing with the help of
segmenting targeting and positioning the products.
Meeting with key people which includes hundred plus Accessories Managers, Jewellery
showroom owners, University and college administrative heads was a live learning
opportunity. They always shared a lot from their experiences. Their knowledge was a great
motivation factor to work again next day.
The organization is working in a niche segment which is never explored before. The buying
trends and behaviors will be used to better provide motivation to clients to actively pursue
products that would suit their needs out of their own initiative, as well as prosing solutions
and Diviniti products that would directly or indirectly affect their unique needs and wants in
positive manner.

“We see our customers as invited guests to a party, and we are the hosts. It’s
our job every day to make every important aspect of the customer experience a
little bit better.”
– Jeff Bezos, founder and CEO of Amazon

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1. Introduction
Premiums are promotional items — toys, collectables, souvenirs and household products —
that are linked to a product, and often require box tops, tokens or proofs of purchase to
acquire. The consumer generally has to pay at least the shipping and handling costs to
receive the premium. Premiums are sometimes referred to as prizes, although historically the
word "prize" has been used to denote (as opposed to a premium) an item that is packaged
with the product (or available from the retailer at the time of purchase) and requires no
additional payment over the cost of the product. Premiums predominantly fall into three
categories, free premiums, self-liquidating premiums and in-or on-package premiums.
A successful premium campaign is beneficial to a company as it aids in establishing effective
consumer relationships. A good campaign will:

 strengthen early-stage consumer relationships


 encourage continued repeat business
 assist with targeting a specific audience or cohort of your target market
 Create an emotional connection with your consumer by serving as a motivational driver
to investigate further or purchase a product.

1.1 About the Company

The idea of creating a top of the line spiritual brand with its ethos deeply embedded in age
old Indian tradition was conceived over 60 years ago. The journey which started as a passion
has traversed number of milestones both in creativity and in uniqueness. Artistes and
craftsmen associated with the company have created several master pieces in the past six
decades which adorn the temples and living rooms of many luminaries of the world.
Blessed by almost all the Presidents of our great country right from Hon. Dr. Rajendra
Prasad till Hon. Shri Ram Nath Kovind, the products have always been coveted articles of
gifts and worship.

Diviniti has the unique identity of being the largest automobile god figurine company in the

world and is currently the exclusive official gift partner of Rashtrapati Bhavan.

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Diviniti has been honored to design the official memento of the Rasthtrapati Bhawan which
is presented as an official gift to all visiting dignitaries. Diviniti has also designed the
'Badge of Sacrifice' and 'Certificate of Honour' for the Defense Services of the
Country.

Diviniti is an official supplier of spiritual products to majority of shrines like Vasihno Devi
temple, Jammu, Sai Baba temple Nashik, Somnath temple in Gujarat, Amba Devi in
Gujarat and in many others. Diviniti is probably the only company in India that caters to
customised gifting requirements of all major corporates in both public and private sector.
Long before the idea of 'Make in India' was popularized, Diviniti started manufacturing of its
unique 24 Carat Gold encased products in its own ISO 9001:2008 certified manufacturing
plant in India using Swiss Technology and shifted its manufacturing base from Switzerland to
India. Diviniti has also been pioneer in introducing 24 Carat gold encased products in the
country.
Diviniti at present has a wide range of exquisite gifting and home decor solutions catering to
everyone from the connoisseurs of art to the devotees of Indian spirituality. Apart from being
market leader in 24 Carat Gold encased products and car figurines, Diviniti has successfully
launched its exclusive range of incense products, car aroma, home fragrances and wellness
products using authentic natural ingredients.

Tagline - A Treasure to Own Pleasure to Gift

The company is in maturity stage, its


introducing new products and
diversifying its business.

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1.2 Our Valued Customers:

AUTOMOBILE PHARMACEUTICALS
 Maruti Suzuki  Cipla Ltd.
 Mahindra & Mahindra  Dabur (India) Ltd.
Ltd.  Dr. Reddy’s Laboratory
 General Motors  FDC Ltd.
 Tata Motors  Johnson & Johnson
 Hyundai  Ranbaxy Laboratories Ltd.
 Ford  Serum Institute of India Ltd.
 Honda  Pfizer India Ltd.
 Max Health Care
 Novratis India Ltd.

OTHERS
 Samsung (India) Ltd.
 Motorola GOVERNMENT & PSU
 Nokia  Parliament House
 LG Electronics Pvt. Ltd.  Indian Armed Forces
 GMR (Delhi International Airport)  BHEL
 Canon India Pvt Ltd.  ONGC
 Mata Vaishnav Devi University  POWER GRID
 Punjab Technical University  Border Security Force
 India Bank  Delhi Police
 ABN Amro Bank  National Defence Academy
 National Panasonic  Rashtrapati Bhawan
 Standard Chartered Bank
 Apollo Hospitals
 Sir Ganga Ram Hospital
 Jeevan Mala Hospital

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Diviniti Products

O HOME DECOR
O CORPORATE GIFTS
O CUSTOMIZED GIFTS
O WEDDING GIFTS
O CAR AROMA
O AUTO ACCESSORIES
O CAR IDOLS

There are three types of foil used:

1. Normal Foil: Diviniti uses Swiss Technology for production of world class 24 Ct. gold
encased foils that act as a base for gold figurines
2. Premium Foil: The premium 24 Ct. gold foils act as the advanced, intricate and
sophisticated designs that bring out the best in its class
3. Royale Foil: Royal foils bring out the exquisiteness of the product line that reminisces
the royal lineage.

There are five types of car frame used:

1. MDF car frames


2. ACRYLIC car frames
3. ROYALE car frames
4. ORNAMENTAL car frames
5. METAL car frames

1.3 Area of Study

Our objective is to understand how the perception of the brand among stakeholders is and if
they are satisfied with the distribution channel or facing any problems like demand and
supply gap, SKU part number unavailable, New products unavailability, products not
approved from their company head office of particular branch. We are also trying to
make a database of such connections of company accessories manager so that we can also
provide them direct information and awareness through mail and contact in future. What are
the factors we should focus on to compete with our rivals?

1.4 Importance of the Project

The automobile industry in India is world’s fourth largest, with the country currently being the
world's 4th largest manufacturer of cars and 7th largest manufacturer of commercial vehicles
in 2018. Indian automotive industry (including component manufacturing) is expected to
reach Rs 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. Two-wheelers dominate the
industry and made up 81 per cent share in the domestic automobile sales in FY19. Overall,
Domestic automobiles sales increased at 6.71 per cent CAGR between FY13-18 with 26.27

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million vehicles being sold in FY19. Indian automobile industry has received Foreign Direct
Investment (FDI) worth US$ 20.85 billion between April 2000 and December 2018.
Domestic automobile production increased at 6.96 per cent CAGR between FY13-19 with
30.92 million vehicles manufactured in the country in FY19.
In FY19, commercial vehicles recorded the fastest pace of growth in domestic sales at 17.55
per cent year-on-year, followed by three-wheelers at 10.27 per cent year-on-year.
The passenger vehicle sales in India crossed the 3.37 million units in FY19, and is further
expected increase to 10 million units by FY20.

Source: www.ibef.org

Source: www.ibef.org

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1.5 Four key steps Excellence in marketing program

Step 1: Identify your customers


To launch a one to one initiative the company must be able to locate and contact a fair
number of customers or at least a substantial portion of its valuable customers. It is crucial to
know the customer details as much as possible, not just their names or address, but their
habits, preferences and so forth.

Step 2: Differentiating your customers


Customers are different in two principal ways, they represent different levels of value and
have different needs. Once the company identifies its customers differentiating them will help
the company to focus its efforts to gain the most advantage with the most valuable
customers.

Step 3: Interacting with the customer


Interaction is also a crucial component of a successful CRM initiative. It is important to
remember that interaction just not occur through marketing and sales channels, customer
interact in many different ways with many different areas of the organization so to foster
relationship all the areas of the organization must be accessible to the customer.

Step 4: Customize your enterprise’s behavior


Ultimately to lock a customer into a relationship a company must adapt some aspect of its
behavior to meet customer’s individually expressed needs this might mean mass customizing
a manufactured product or it might involve tailoring some aspect of the service surrounding
the product.

1.6 Significance of the study


The CRM (customer relationship management) is an integrated effort to strengthen the
network of relationship for the mutual benefit of both the parties. The biggest management
challenge in the new millennium of liberalization and globalization for a business is to
maintain good relationship with the king – the customer. This study is of great significance
because

 A 5% increase in the customer retention will increase the profit up to 125%.


 It costs seven time more to attract a new customer than to serve an old one.
 20% of the company’s loyal customers account for the 80% of its revenues.
 To study on customer relationship management would enable the researcher to
know about the CRM practices adopted in the premium gift segment.

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1.7 Review of the existing literature
With the available literature we can summarize CRM in the words of various authors as
follows-

According to Shani and Chalarani – Customer Relationship Management marketing


can be defined as “ an integrated effort to identify, maintain and build up a network
with the individual customers and to continuously strengthen the network for the
mutual benefit of both parties, through interactive, individualized and value added
contracts over a long period of time.

In the words of Lekha “CRM aims at delivering better products and value to the customers
through better understanding of his needs.”

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2. Background

B2B stands for business-to-business, is a process of selling products or services to other


businesses. Competitive analysis is extremely important to build B2B strategies as they help
highlight where you’re having success and your weaknesses against your competitors.

2.1 Problem

A firm in manufacturing industry has to maintain good relations with its customers. They have
to retain the customers for a long time to avail the benefit of their relations. The customer
relationship management is one of the effective tool to identify, establish and maintain
relationship with the customers. With the help of this research we are going to identify the
0importance of CRM in manufacturing industry and premium gift segment.

2.2 Focus of the problem

Our e-commerce business is basically manufacturing based industry. Through this study we
are going to identify the importance of CRM in our organization. How it is benefited from
CRM? Is there any relevance of implementing CRM? And what role does information
technology can play in CRM?

2.3 Objectives of Customer Relationship Management


1. To study the current practices of CRM.

2. To find out the impact of CRM on the profitability of the organization.

3. To study the factors affecting the CRM practices.

4. To study the role of information technology in CRM.

2.4 Proposed Solution


We conducted market research in many states including West Bengal, Odisha, Rajasthan,
Haryana, Punjab and New Delhi. I did it with my partner in Delhi Ncr Region. It provided
geographical specific information of Consumers, Brand image, Brand Awareness.

In face to face interaction we get many information which are not answered through the
questionnaire. There are few thoughts which provides subconscious information about how
other businesses perceive our product.

Using SAAS is definitely going to improve the sales of the product as well provide the
opportunity to diversify it in different sectors.

2.5 Key Factors

The clients who are already connected with our company, we are focusing on them first
because the CRM is the factor which is necessary for going in different market segments.

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3. Research

3.1 Methodologies Accepted


A research design is simply a plan for study in collecting and analyzing the data. It helps the
researcher to conduct the study in an economical method and relevant to the problem.

Research methodology is a systematic way to solve a research problem. The methodology


should combine economy with efficiency.

3.2 Research design


The study conducted here is exploratory cum descriptive.

3.3 Scope of the study


The scope of the study is confined to Company Diviniti . But in future the database created
will help company with the help of SAAS to update and be in constant touch with the
franchisee and distributors. It will also help in understanding the factors which are important
and company should give more priority to them.

3.4 Collection of the data


There are two types of data.

Primary data – primary data is that data which is collected for the first time. These data are
basically observed and collected by the researcher for the first time. I have used primary data
for my project work.

Secondary data – secondary data are those data which are primarily collected by the other
person for his own purpose and now we use these for our purpose secondly.

3.5 Data collection


Data is collected through schedule.

SAMPLE DESIGN:
Sample size: 50 Auto Showrooms (Maruti Suzuki, Honda, Hyundai, Toyota etc.)

Method used:

Questionnaire Method:
Further direct interview method, where face to face interview was taken. Lastly observation
method has been continuous with the questionnaire method.

Descriptive:
Descriptive research studies are those studies which are concerned with describing the
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characteristics of particular individual. The researcher must be able to define clearly, what
he wants to measure and must find adequate methods for measuring it along with a clear cut
definition of population he want to study.

Sampling Technique:

 Sampling Technique used is Non- Probability sampling technique.


 Convenience non probability sampling technique is used in this study.

3.6 Data Collection and Segregation

1. Primary research with visits and in-depth interviews.


2. Secondary research with Second hand car showrooms, gift shops, jewellery store,
university and colleges to understand different demographics.

3.7 Tools and Computations Used

 Sampling Units: Accessory Manager of Car showrooms in Delhi NCR


 Sample Technique: Random Sampling.
 Research Instrument: Structured Questionnaire.
 Contact Method: Personal Interview.

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4. Results
Results and interpretation-

Companies

5, 10%

6, 12% Maruti Suzuki


Honda
25, 50%
Hyundai
Toyota
14, 28%

Interpretation-

1 We have surveyed 50 car showrooms who are currently associated with Diviniti for Car
Accessories (Dashboard and Aroma).

Aroma product was approved by-

Chart Title

1 1 1 1 1 1 1 1 1

0 0 0

MARUTI SUZUKI HONDA HYUNDAI TOYOTA

Car DashBoard Aroma Aroma as Dashboard

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Interpretation-

In Maruti Suzuki SKU Parts are approved by the HQ for car dashboard and aroma, but in
Honda, Hyundai and Toyota only Car Dashboards were approved. All of these were
interested in Aroma as Dashboard (Competitor is Godrej Dashboard).

4.1 Results and Interpretations

o In study we found that for B2B customers there is information gap to the Manager,
We need to improve it.
o There is no brand awareness as they sell it as genuine accessory so managers are
unaware about it.
o For B2C customers, in Delhi many people are manufacturer or getting similar product
at low prices. There is no promotions via events, free samples or online marketing.
We need it.

4.2 Interpretation
 The products are at premium product category. So the categorization and providing it
to specific customer is very important.
 Using SaaS in the organization will help in maintaining these clients. And they can
even ask for new products there. As well as we can inform about it.
 There is a lot of information gap.
 Targeting right customers will help in sustaining the brand. The presence on social
media, brand awareness plays important role.
 Regular reach to customers in intervals.

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5. Recommendations

Customer classification has told before, and then, so some strategy to improve the customer
loyalty should be taken. The customer loyalty could be defined as the strength of the
relationship between an individual's relative attitude and repeat patronage with a supplier.
Customer loyalty can bring a lot of benefits to a firm. Like the revenue will be larger and the
brand will become stronger and so on (Wilson et al., 2008). The way of improve customer
loyalty: Changing customer neglect into customer satisfaction, then turn customer
satisfaction into customer loyalty is critical. It doesn’t happen by magic. Improving customer
loyalty will shine as a marketing tool; at the same time improve delivery of your service or
products. Combining the theory part and the questionnaire results the paper has found, what
the customers really need is realized. There are 7 ways to improve customer loyalty based
on the theory and the questionnaire done before.

1. Provide a clear website and good service to the customers.

Searching on a clear website will delight the customers, a clear website will lead the
customers quickly find out what they want. And to the online shopping, the quality of the
service is most important. It needs to do well in pre-sell and after sale services.

2. Stay in contact with existing and past clients on a consistent basis. Keeping contact with
customers is very significant. Phone calls, note cards or postcards, newsletters, and email
are some useful approaches. Considerations are also opportunities for personal contact, it is
a good idea in the high-tech, low-touch world.

3. Give the customer more than their expectation. Find out customer’s need and fill it.
Answer a question before they ask it.

4. Offer free shipment to customers from the questionnaire, it could be found that free
shipment is a good promotion on sales. There are more than 14 percentages of customers
who feel free shipment is an important reason to shop online.

5. To control the price of the product the low price is also an important reason that why the
customers choose Customer Loyalty.

6. To offer a safe payment system a safe payment system becomes to the important factor
that customer all concern about.

7. To guarantee the quality of product the quality of product is the most important factor to be
concerned when customers shopping online. Due to online shopping customers cannot see
or touch the product when they buying, so the most thing they care is the quality of product.

5.1 Summary

o DIVINITI has to implement good customer relationship management strategy


that enhances Marketing Strategies
o The company can undertake R & D to improve the existing feature which will
help their marketing strategies
o The company should promote about the entire feature offered by it

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o As majority of the customer give opinion that they are satisfied, services and
design of the product of the company should not only maintain the existing
standard but also enhances them
o They could carry out promotional activities from time to time in corporate
offices and Universities in order to understand what the potential customers
want from them.

5.2 Conclusion

This project gave me detailed insight into the world of various sectors like automobile,
pharmaceutical, government & PSU and others. This helped in analyzing, getting views and
technicalities behind running any of the above sectors. Not only did I gain practical skills but I
also had the opportunity to meet many fantastic people. Additionally, I felt like I was able to
contribute to the company by assisting and working on projects throughout the summer.

The company is offering good services, which is reflected on the satisfaction of the
customer. Majority of the customer are satisfied with the design. These were just a few of the
many insights that I gained while working on this project. I also enjoyed the huge amount of
questionnaire which needs to do before finding out which products need to be pitched to the
customer. Each of the recommendations which I suggested was also backed by data which I
got from analyzing various reports from various sources.

5.3 Scope of further Study

Diviniti is diversifying its market in Home Décor, Wedding Planning so it would be beneficial
to understand the current Market leaders in those areas and then project the products to
specific market segment using Segmenting, Targeting and Positioning.

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6. References

https://www.diviniti.com/

https://www.ibef.org/industry/automobiles-presentation

Marketing Management by Philip Kotler

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Questionaire-

DIVINITI SURVEY – AN ACADEMIC PROJECT OF IIM ROHTAK

(Will take five to seven


minutes)

Showroom
details:

Brand (Example- Maruti)


:______________________________

City:________________
___

Dealer (Example – XYZ Motors) :


________________________

Address:______________________________________________________
___

_________________________ PIN__________________
State_____________

Owner’s name:____________________________. Cell


No.:_____________

Accessory Manager:__________________________ Cell


No._____________

Questions:

1. Average number of vehicles sold in a month (all


models):

a) Less than 50

b) Between 50 to
100

c) More than 100

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2. Average number of vehicles serviced per month in workshop (all
models) :

a) Less than 50

b) Between 50 to
100

c) More than 100

3. Name of the model with highest average


sale:_____________________

4. Is DIVINITI (Car idols) offered as a standard part of initial accessory


kit?

Yes /
No

5. Do you have the DIVINITI SKU/ part numbers approved by


HQ?

Yes /
No

6. How many customers are keen to buy a DIVINITI along with a new
vehicle?

a) More than 75%

b) Between 50 t0
75%

c) Between 25 to
50%

d) Less than 25%

7. Your comments about the quality of DIVINITI


idols?

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a) Very
good

b) Good

c) Fair

d) Poor

8. Your comments about the quality of DIVINITI aroma


range?

a) Very
good

b) Good

c) Fair

d) Poor

9. Any suggestions about introduction of new product range for DIVINITI


idols?


______________________________________

10. Any suggestions about introduction of new product range for DIVINITI
Aroma?


______________________________________

11. Apart from DIVINITI do you sell any other dashboard


idols?

Yes/
No

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12. If yes please name the brand

:_______________________

13. Apart from DIVINITI do you sell any other Aroma


product?

Yes/
No

14. If yes please name the brand

:______________________

15. On an average how many idols are sold per


month?

a) Less than 50

b) Between 50 to
100

c) More than 100

16. On an average how many aromas are sold per


month?

a) Less than 100

b) Between 100 to
300

c) More than 300

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Survey conducted by

:____________________________

Questions answered by

:___________________________.

Designation

:_____________

Date

:__________________

Thank you for your


help!

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