customer satisfaction towards b.m. munjal industries
TRANSCRIPT
SUMMER TRAINING REPORT
ON
CUSTOMER SATISFACTION TOWARDS B.M.
MUNJAL INDUSTRIES’ PRODUCTS
SUBMITTED TO
PUNJAB TECHNICAL UNIVERSITY, JALANDHAR
IN THE PARTIAL FULFILLMENT OF THE
REQUIREMENT FOR THE AWARD OF DEGREE OF
MASTER OF BUSINESS ADMINISTRATION
SUBMITTED BY
KARANVIR SINGH
UNIVERSITY ROLL NO. 1343943
A.S. GROUP OF INSTITUTES
KHANNA, LUDHIANA
2014
1
DECLARATION
I Karanvir Singh, University Roll No. 1343943 a full time bonafide student of
Master of Business Administration (MBA) programme of A.S Group of Institutes,
Khanna. I hereby certify that this project entitled “Customer satisfaction towards
B.M. Munjal industries products” carried out by me at B.M. Munjal Industries, the
report submitted in partial fulfillment of the requirements of the programme is an
original work of mine under the guidance of the industry guide Mr. Avinash
Malhotra and is not based or reproduced from any existing work of any other person
or on any earlier work undertaken at any other time or for any other purpose, and
has not been submitted anywhere else at any time.
Date:- Karanvir Singh
University Roll No. 1343943
2
ACKNOWLEDGEMENT
My sincere thanks to Avinash Malhotra for his valuable guidance and providing
me an opportunity to do this project. Without his assistance this project would not
have completed. This project was a great source of learning and as it has made me
aware of the way in which various methods being used at B.M. Munjal Industries.
I wish to express my gratitude to Mr. Vineet Munjal who helped me color the
mosaic of this report with the tiles of his knowledge and expertise by supervising me
in my project at B.M. Munjal Industries.
I would also like to thanks My Parents who borne all the inconvenience and
encouraged me to do better all the time.
KARANVIR SINGH
3
PREFACE
Practical knowledge is an important part of theoretical studies. Any professional
degree remains incomplete without practical exposure. The students are required to
develop deep into the intricacies of the human resource related activities. It covers all
that which remains uncovered in the classroom. It offers all that which remains an
invaluable treasure of experience. It offers an exposure to practical of management of
business organization. As we know well that practical knowledge plays an important
role in future building of an individual. One can easily overcome the fear from that
life in which he has to join as a member after sometime. Just theoretically knowledge
is not sufficient for the success of an individual to one should have practical
knowledge about theory of general life. I have been given an opportunity to gain
practical knowledge at B.M. Munjal Industries, Ludhiana. I availed of this
opportunity is a very satisfactory manner and I think it will be much beneficial for me
in future building.
The research and methodology includes the research procedure, research, research
design, sample design, data collection and finally limitations of study. The methods
used for conducting survey are by preparing a structured questionnaire and then
taking the views of respective respondents.
In last the findings and suggestions, which came out after going through the whole
survey of the organization are mentioned.
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Contents
Ch. No. Title Page No.
1 INTRODUCTION
• Introduction to the topic
• Introduction of the company2 OBJECTIVES OF THE STUDY3 RESEARCH METHODOLOGY4 ANALYSIS & INTERPRETATION OF DATA5 FINDINGS & CONCLUSION6 SUGGESTIONS
BIBLIOGRAPHYAPPENDIXES
5
CHAPTER – I
INTRODUCTION
6
INTRODUCTION
INTRODUCTION OF THE TOPIC
In the modern world everything becomes close to everyone because of the
improvement in the science & technology and also in the research & development.
Innovation of new product changes the life style of common man. in the dynamic
enviroment it has become essential to have competitive edge over others in every
sphere of life.Faster mode of communication for any purpose can provide a solution
for this
A Few years back the telephone was considered to be an extra ordinary thing &
status symbol;but now most of the people are using basic telephone services & also
mobile phone has become a part of day today life.
In India cellular phones were introduced in mid of the nineties in the metro
cities but now most of the towns are connected by cellular network including
remote villages.
The overcoming of communication barriers has helped everyone to grow
relationship with others. Information & ideas are being exchanged at a faster rate in
order to update & enrich & leading them to prosperity
In order to have proper understanding of this study it is nesscary to discuss
some of the marketing related concepts.
DEFINITIONS
Marketing:
Marketing is a social & managerial process by which individuals & group obtain
what they need & want thought creating offering & exchanging products of value
with other.
Products defined as broadly to cover “any thing that can be offered to someone to
satisfy a need or want customer.
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Customer Satisfaction
Though customer’s bye an industrial machinery or customer product or service
oriented products they all expect certain level of satisfaction of particular needs.
This needs-based satisfaction will depend upon customer’s perception of product or
service performance. The satisfaction derived will be in proportion to the difference
between actual performance and perceived performance of a product. The lower the
difference the greater will be the satisfaction.
The satisfaction can be defined as “a person’s feeling of pleasure or his
disappointment resulting from comparing a products perceived performance (or
outcome) in relation to his or her expectations”.
As this definition makes clear satisfaction is a function of perceived performance
and expectations. If the performance falls shorts of expectations, the customer is
dissatisfied. If the performance matches expectations the customer is satisfied. If the
performance exceeds expectations the customer is highly satisfied or delighted.
Many companies are aiming for high satisfaction because customers who are first
satisfied still find it easy to switch when a better offer comes along. Those who are
highly satisfied are less likely to switch. High satisfaction or delights creates an
emotional affinity with the brand, not first a rational preference. The result is high
customer loyalty.
Buyer expectations are influenced by their past buying experience, friends and
associates advice and marketer and competitors information and promises.
Today most successful companies are raising expectation and delivering
performance to match. These companies aiming for T.C.S-Total customer
satisfaction. The challenge of implementing T.C.S is to create a company culture in
which every one within the company aims to delight the customer.
For customer-centered companies, customer satisfaction is both a good and
marketing tool. Companies that achieve that high customer satisfaction rating make
sure, that their target market knows it.
The companies must pay close attention to their customers defection rate ( the rate at
which they lose customers) and take steps to reduce it. Based on this the companies
are recognizing the importance of satisfying and retaining current customers.
The better approach for retention of customer is to deliver high customer
satisfaction.
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TOOLS FOR TRACTING AND MEASURING CUSTOMER SATISFICTION
1) COMPLAINT AND SUGGESTION SYSTEM
A customer – centered organization makes it easy for its customer to deliver
suggestion and complaints. These information flows provide companies with many
good ideas and enable then to act more rapidly to resolve problem.
2) CUSTOMER SATISTFATION SURVEYS:
Most of the times the companies cannot use complaint levels as a measure of
customer satisfaction. Responsive companies offer a direct measure of customer
satisfaction, by conducting periodic surveys. They send questionnaires or make
telephone calls to a random sample of recent customers and ask their satisfaction
levels. While collecting satisfaction data it is also useful to ask addition questions to
measure the customers repurchase intention; this will be normally high if the
customers satisfaction is high.
3) GHOST SHOPPING:
Companies can hire persons as potential buyers to report their finding on strong and
weak points, their experience in buying the company’s and competitor’s products.
(4) LOST CUSTOMERS ANALYSIS
Companies should concentrate on customers who have stopped buying or who have
switched to learn why this happened. It is important to conduct exit interviews when
customer first stop buying and also monitor the customer’s loss rate which if
increasing indicate that the company is failing to satisfy its customers.
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INTRODUCTION TO THE COMPANY PROFILE
Basic Information
Business Type
• Manufacturer
Industry Manufacturer of Cycle Parts, Sheet ComponentsRegistered Address 711, Industrial Area- B,
Ludhiana, 141002, Punjab, IndiaOwnership & Capital
Year of Establishment 2000Legal Status of Firm Registered Firm Owner’s Name Mr. Vineet Munjal
Mr. Amit Munjal
Infrastructure
Location Type Semi Urban AreaBuilding Infrastructure Permanent
Team & Staff
Total Number of Employees Upto 150 PeopleCompany USP
Quality Measures/Testing Facilities Yes
Packaging/Payment and Shipment Details
Payment Mode • RTGS • Cheque• DD • LC
Shipment Mode • By Road
We “B.M. Munjal Industries” are known among the most recognized and sought
after manufacturers of cycle parts & Sheet Components. Owing to our stringent
quality measures and advanced production facilities, we ensure that our range is at
par with the international standards and meet the specific application demands at
client's end. Since our inception in this segment we have built our reputation on the
platforms of quality cycle parts and sheet components at competitively priced and
timely delivery.
VISION
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We are set with a vision of establishing ourselves as first class brand and corporate
image and to achieve this task we have strive our efforts in the satisfying our clients
with a flawless range of our products and by continuous after sale support.
PRODUCTS
• Cycle parts • B.B.Axles
• B.B.Cups
• Screw Races
• Free Wheels
• Check Nut • Sheet components • Spring Washers
• Galvanized Anchor Bolt
• Square and Plain Washer
• U-Clamps
CLIENTS
Our products have gained the trust of a large number of both domestic and global
clients. We maintain a cordial relationship with our valued clients and are
committed to deliver them products that provide superior functioning standards in
relevant industry applications.
TEAM
We have with us services of a team of energetic, ambitious, committed and
enthusiastic skilled and semi skilled professionals. Our well manned workforce and
highly competitive management has enabled our organization to climb the ladder of
success. Further the splendid planning & constant innovation in our approach has
also enabled our team to deliver outstanding end products.
FACTORS PEOPLE PREFER B.M. MUNJAL
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Several factors that make us the precedence choice of our valued clients. Some of
these factors are mentioned below:
• Client centric approach
• Assurance of optimum quality in products
• Wide distribution network
• Ability to undertake bulk and urgent requirements
• Timeliness in deliveries
• Competitive pricing policy
QUALITY CONTROL
The objective of our Quality Policy is TOTAL CUSTOMER SATISFACTION.
Since inception we believe and strive for accomplishment of our objectives. The
scope of the quality policy is TOTAL QUALITY MANAGEMENT. To implement
this we have an integrated Quality Management System. We believe quality is a
never ending task so we strive to continuously improve on quality. Our quality
department is continuously involved in improving the process capabilities to achieve
higher standards of productivity by benchmarking with new improved processes
available.
INSPECTION
TESTING
Our quality department has identified 4 stages of inspection testing in our factory
right from the raw-material to finished products. Modern sampling techniques are
adopted to check conformity to critical parameters like; torque testing, chain shifting
etc..
1. Raw Material Testing : We have pre-defined standards for incoming raw materials
and all incoming raw- materials are tested approved by our quality department
before use. Only after approval from quality department, the same is cleared for
production.
2. In-Process Inspection : Inspection is done at regular intervals with the help of
modern testing inspection instruments. In-process inspections are carried out at
every stage of manufacturing assembly.
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3. Final Stage Inspection : 100% visual inspection and operational efficiency of each
item is checked through modern sampling techniques and testing instrument.
INFRASTRUCTURE
We are greatly leveraged by an advanced infrastructure that is blessed with cutting-
edge technology features. The manufacturing unit, featuring sophisticated tools and
machines, operates on maximum installed capacity to achieve the target of optimum
production. R&D and quality monitoring unit is in total compatibility with this unit
for collaborative operations. To meet the ever-growing demand for Sewing machine
parts of different specifications, we are 24/7 ready to deliver consignments from our
spacious and well equipped warehouse.
All infrastructure facilities are manned and supervised by professionals, who are
masters in their own disciplines. Continuous maintenance and regular up gradation
and overhauling keep the machines in total productive sync.
QUALITY ASSURANCE
The whole organization is committed to ensuring quality as we understand that this
will be the mainstay of our relationship with our customers. And we can proudly
state that so far we have been successful in building up our reputation on the Quality
attribute of the product more than anything else. For us Quality comes first.
• The consistency of reliability and quality of products, process, services, manpower,
machinery and testing equipments has been the vital ingredient for the success of
our company.
• Product quality is assured through strict adherence to established quality system as
per International Standards. Modern sampling techniques are adopted to check
conformity to critical parameters set.
• The company also provides clean, congenial and commensurate work environment
to its employees thereby keeping the work force motivated and self driven to
provide their best to the company and our customers.
• As Quality in products/ services is what the customer gets and is willing to pay for,
so we rely upon our customers feedback on quality and their level of satisfaction as
a regular input for improvement, growth and to serve them with our best.
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TIMELY DELIVERIES
We are committed to deliver its orders within the stipulated time, as it plays a vital
role in establishing a company as a reliable brand. Our wide distribution network
and flexibility in production and workforce enable us to meet this objective. We
have easy access to our raw materials and thus are capable to fulfill bulk and
immediate requirements of our clients.
RESEARCH & DEVELOPMENT
We do not believe in resting on our past achievements. With research and
development, we have embarked upon a futuristic trail that ensures product
innovation and development of highest industrial standard. Our R&D cell is the
center of all innovative ideas and actions that the manufacturing unit puts to good
use. Our research professionals are highly qualified professionals whose research
findings are leveraged by technological back up.
In order to offer our clients the best category of Sewing machine parts and allied
products, we carry out extensive research, both laboratory and market research, to
hit upon the right combinations. This kind of dual research supports us in identifying
and offering solutions to client requirements. Researchers' extensive study supports
us to incorporate the changes required to align with the client specifications. Our
R&D comprises the following aspects:
• Timeliness
• Wastage control
• Anti-corrosiveness
• Quality of the product
• Upgraded production process
WAREHOUSE & PACKAGING
To meet the ever-growing product demand for Cycle parts products, we have
installed a spacious warehouse where consignments are stocked for timely delivery.
Our well-equipped warehouse is segregated into neat rows to stack up the range
according to product category and date of delivery. This supports identification and
14
retrieval during the time of delivery. A well ordered inventory system keeps check
of product availability in the warehouse and warehouse maintenance.
The packaging unit attached to the warehouse makes use of damp-proof and sturdy
packing materials for packaging the consignment in most protective manner. This
guarantees safe and damage-proof delivery to customers. Association with reliable
C&F agents and transport companies ensure swift logistics and speedy delivery.
CLIENT SATISFACTION
Our Client-centric approach is at the back of all our efficient business policies. Our
wish to see the client happy, makes us walk the extra mile to maintain high standard
in our product range. We constantly upgrade product range in terms of quality,
innovation and expansion, just so our clients get the best benefits from our range in
order to enhance their own productivity. Further, product customization ensures
clients in divergent industries are served in most critical manner. Our policy is to
address our client's minutest specifications. Following are the measures we take to
serve our clients to the best of our abilities:
• Customization
• Supreme quality
• On-time delivery schedules
• Technical soundness
• Economical product prices
PRODUCTION MACHINERY
To meet the rising demand of our customers of our rolls, we have 30 lathe machines,
shaping machine, grinding machine, Hardness testing and three types of melting
furnaces.
The company has a huge industrial complex besides a well equipped laboratory for
research & quality control of our products. Chemical laboratory for wet analysis
spectrometer (20 elements, 23 channels with cutting and polishing machine)
15
16
CHAPTER – II
LITERATURE
REVIEW
17
CHAPTER – III
RESEARCH
METHODOLOGY
18
OBJECTIVES OF THE STUDY
To study the customer attitude towards B.M. Munjal Industries Products.
To know influencing factor to buy Products from B.M. Munjal Industries.
To know the satisfaction level of customers.
To know the customer opinion about products of B.M. Munjal Industries.
RESEARCH METHODOLOGY
In this chapter, the methodology followed in conducting the research has been
described. Details regarding the research design, data collection questionnaire,
sampling plan, area of the study and statistical tools used have also been given.
Research – Research is common parlance refers to a search for knowledge. The
Advanced Learner’s Dictionary of Current English lays down the meaning of
research as “A careful investigation or inquiry especially through search for new
facts in any branch of knowledge”
RESEARCH METHODS
Those methods which are used by the researcher during the course of studying are
research problem are termed on research methods.
RESEARCH METHODOLOGY
The research methodology, not only the research methods are but also consider the
logic behind the methods. They are in the contest of our research studied. And
explain why we are using a particular method or techniques and we are not using
others.
DESCRIPTIVE RESEARCH DESIGN
In includes surveys, and facts finding enquires of different kinds. The manor
purpose of descriptive research is description of state of affairs on it exists at
present. The main character of this method is that the researcher has no control
threw over the variables. He can report what has happen or what is happening.
SOURCES OF DATA COLLECTION
Research will be based on two sources:
1. Primary data
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2. Secondary data
1) Primary Data:
Questionnaire: Primary data was collected by preparing questionnaire and the
customers were randomly being requested to fill them.
2) Secondary Data:
Secondary data will consist of different literatures like books which are published,
articles, internet and websites.
COLLECTION OF DATA
The data were collected from the respondents through the distribution of
questionnaire.
AREA OF THE STUDY:
This study covers Ludhiana city only.
SAMPLE SIZE:
The sample size of this study is 100.
TOOLS FOR ANALYSIS:
With the usual statistical tools such as tables, percentages, bar charts were used for
analyzing the data and arriving at the conclusion.
QUESTIONNAIRE DESIGN
A standardized questionnaire to collect data on beliefs, feelings and attitudes from the
respondents is being used and also the researchers have contributed this effort in
framing the questionnaire. The purpose of the study is explained clearly to the
respondents. So, nothing about the purpose of study is concealed from the respondents.
CLOSED ENDED QUESTIONS
In these questions, the respondents are given choices in which he/ she has to select one.
20
ANALYSIS OF THE DATA
The data collected through questionnaires have been tabulated. By using the above
mentioned statistical tools, the data have been analyzed. Interpretations have been
drawn based on the analysis. The findings and observations are the result and outcome
of the interpretations made during the course of analysis.
PRESENTATION OF THE REPORT
Tables and figures have been used wherever necessary to facilitate the analysis and
interpretation. Explanations for the tables were given wherever necessary.
21
CHAPTER – IV
DATA ANALYSIS
AND
INTERPRETATION
22
DATA ANALYSIS AND INTERPRETATION
Table 1: Distribution of Respondents on the basis of Factor of attraction.
S.NO. ATTRACTION FREQUENCY PERCENTAGE01 Price 05 05.0
02 Package 10 10.0
03 Quality 67 67.004 After Sales Services 12 12.005 Company image 06 06.0
TOTAL 100 100.0
Chart 1: Distribution of Respondents on the basis of Factor of attraction.
Interpretation:
It is clear from the above table that 67.0% of respondents have attracted by the
quality of this product, 12.0% of them are attracted by after sale services, 10.0% of
the respondents are attracted by means of packing, 06.0 of them are attracted by the
image of the company and only 05.0% of are attracted by means of price.
Table 2: Distribution of Respondents on the basis of Factor of loyalty.
23
Price , 5%
Packaging , 10%
Quality , 67%
After Sale services , 12%
Company Image , 6%
0%
10%
20%
30%
40%
50%
60%
70%
Price Packaging Quality After Sale services Company Image
Interpretation
It is clear from the above table that 49.0% of respondents are agree, 20.0% are
indifferent, 12.0% strongly agree, 10.0% strongly disagree and 09.0% disagree with
the statement of loyalty.
Table 3: Distribution of Respondents on the basis of Quality
24
S.NO. LOYALTY FREQUENCY PERCENTAGE
01 Strongly disagree 10 10.0
02 Disagree 09 09.0
03 Indifferent 20 20.0
04 Agree 49 49.005 Strongly agree 12 12.0
TOTAL 100 100.0
Strongly disagree , 10%
Disagree , 9%
Indifferent , 20%
Agree , 49%
Strongly Agree, 12%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Strongly disagree Disagree Indifferent Agree Strongly Agree
Interpretation
It is clear from the above table that 38.0% of respondents fall in the category of
excellent, 34.0% under very good, 25.0% under good, 03.0%under fair and 00.0%
fall under the poor.
Table 4: Distribution of Respondents on the basis of Price.
25
S. NO. Quality Frequency Percentage
01 Excellent 38 38.0
02 Very good 34 34.003 Good 25 25.0
04 Fair 03 03.005 Poor 00 00.0
Total 100 100.0
Excellent , 38%
Very Good , 34%
Good , 25%
Fair , 3%
Poor , 0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Excellent Very Good Good Fair Poor
S.NO PRICE FREQUENCY PERCENTAGE
01 Very high 28 28.0
02 High 44 44.0
03 Normal 25 25.0
04 Low 02 02.005 Very low 01 01.0
TOTAL 100 100.0
Interpretation
It is clear from the above table that 44.0% of respondents think that price is high,
28.0% very high, 25.0% normal, 02.0% low and 01.0% of respondents think the
price is very low.
Table 5: Distribution of Respondents on the basis of Package.
26
Very high , 28%
High , 44%
Normal , 25%
Low , 2% Very Low , 1%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Very high High Normal Low Very Low
Interpretation
The above table shows that 60.0% agree with the packaging, 22.0% are indifferent,
06.0% are strongly agree,06.0% disagree and 06.0% strongly disagree with the
packaging.
Table 6: Distribution of Respondents on the basis of Promotional
tools.
27
S.NO PACKAGE FREQUENCY PERCENTAGE
01 Strongly disagree 06 06.0
02 Disagree 06 06.003 Indifferent 22 22.004 Agree 60 60.005 Strongly agree 06 06.0
TOTAL 100 100.0
Strongly disagree , 6%Disagree , 6%
Indifferent , 22%
Agree , 60%
Strongly Agree , 6%
0%
10%
20%
30%
40%
50%
60%
Strongly disagree Disagree Indifferent Agree Strongly Agree
S.NO. PROMOTIONAL
TOOLS
FREQUENCY PERCENTAGE
01 Strongly disagree 08 08.0
02 Disagree 18 18.0
03 Indifferent 26 26.0
04 Agree 45 45.0
05 Strongly agree 03 03.0
TOTAL 100 100.0
Interpretation
The above table shows that 45.0% agree with the promotional tools used, 26.0% are
indifferent, 18.0% disagree, 08.0 % strongly disagree and 03.0 % strongly agree.
Table 7: Distribution of Respondents on the basis of Quality.
28
S.NO. QUALITY PERCENTAGE FREQUENCY01 Excellent 34 34.002 Very Good 28 28.003 Good 35 35.004 Fair 03 03.005 Poor 00 00.0
TOTAL 100 100.0
Strongly disagree , 8%
Disagree , 18%
Indifferent , 26%
Agree , 45%
Strongly Agree , 3%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Strongly disagree Disagree Indifferent Agree Strongly Agree
Interpretation:
It is shown from the above table that 35.0% of the respondents are having good
attitude towards the quality of this product, 34.0% having excellent attitude of the
quality towards this product, 28.0% of them says as a very good quality and only
03.0% have a fair about the quality of this product.
Table 8: Distribution of Respondents on the basis of availability.
29
Excellent , 34%
Very Good , 28%
Good , 35%
Fair , 3%
Poor , 0%
0%
5%
10%
15%
20%
25%
30%
35%
Excellent Very Good Good Fair Poor
Interpretation
This is clear from the above table that 49.0% of the respondents are agree with the
availability of this product, 24.0% says indifferent availability of this product,
06.0% of them are strongly disagree with the availability and 05.0% of them are
strongly agree with the availability of this product.
Table 9: Distribution of Respondents on the basis of Brand Image.
S.NO. BRAND IMAGE FREQUENCY PERCENTAGE
30
S.NO. AVAILABILITY frequency Percentage
01 Strongly disagree 06 06.0
02 Disagree 16 16.003 Indifferent 24 24.004 Agree 49 49.0
05 Strongly agree 05 05.0
TOTAL 100 100.0
Strongly disagree , 6%
Disagree , 16%
Indifferent , 24%
Agree , 49%
Strongly agree, 5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Strongly disagree disagree Indifferent Agree Strongly agree
01 Strongly disagree 08 08.002 Disagree 07 07.003 Indifferent 24 24.0
04 Agree 52 52.005 Strongly agree 09 09.0TOTAL 100 100
Interpretation
The above table shows that 52.0% are agree ,24.0% are indifferent , 09.0% are
strongly agree, 08.0% are strongly disagree and 07.0% are disagree.
Table 10: Distribution of Respondents on the basis of Attitude.
S.NO. ATTITUDE FREQUENCY PERCENTAGE01 Highly Positive 20 20.002 Positive 42 42.003 Neutral 27 27.004 Negative 11 11.0
31
S tro ngly dis a gre e , 6% D is a gre e ,
16%
Indiffe re nt , 24%
A gre e , 52%
S tro ngly a gre e , 5%
0%
10%
20%
30%
40%
50%
60%
Strongly disagree disagree Indifferent Agree Strongly agree
05 Highly Negative 00 00.0
TOTAL 100 100.0
Interpretation
The above table shows that 42.0% are having positive attitude, 27.0% are neutral,
20.0% are highly positive and 11.0% are having negative attitude cycle products.
32
Highly Positive , 20%
Positive , 42%
Neutral , 27%
Negative , 11%
Highly Negative , 0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Highly Positive Positive Neutral Negative Highly Negative
Table 11: Distribution of Respondents on the basis of change.
S.NO. CHANGE PERCENTAGE FREQUENCY01 Price 43 43.0
02 Package 33 33.0
03 Quality 7 07.004 After sale services 17 17.0
TOTAL 100 100.0
Interpretation
The above table shows that 43.0% will change to products of other companies if
there is any change in price of B.M. Munjal Industries, 33.0% fall in packaging
category, 17.0% fall in after sale services category, and 07.0% fall in quality
category
33
Price , 43%
Packging , 33%
Quality , 7%
After Sales services , 17%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Price Packging Quality After Sales services
Table 12 : Distribution of Respondents on the basis of Satisfaction.
Interpretation
The above table shows that 62.0% agree ,19.0% are indifferent, 08.0% are strongly
agree , 08.0% are disagree and 03.0% are strongly disagree .
34
S.NO. SATISFACTION FREQUENCY PERCENTAGE
01 Highly Dissatisfied 03 03.002 Dissatisfied 08 08.0
03 Indifferent 19 19.004 Satisfied 62 62.005 Highly Satisfied 08 08.0
TOTAL 100 100.0
Highly Dissatisfied, 3%
Dissatisfied , 8%
Indifferent , 19%
Satisfied , 62%
Highly Satisfied , 8%
0%
10%
20%
30%
40%
50%
60%
70%
Highly Dissatisfied Dissatisfied Indifferent Satisfied Highly Satisfied
Table 13: Distribution of Respondents on the basis of Information
about new products.
S.NO. INFORMATION
ABOUT
NEWPRODUCTS
FREQUNCY PERCENTAGE
01 Always 37 37.002 Usually 16 16.0
03 Sometimes 32 32.004 Never 15 15.0
TOTAL 100 100.0
Interpretation
The above table shows that 32.0% are sometimes informed about new products
37.0% very often, 16.0% often and 15.0% never.
35
Always , 37%
Usually , 16%
Sometimes , 32%
Never , 15%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Always Usually Sometimes Never
CHAPTER –V
FINDINGS
&
CONCLUSION
36
FINDINGS
From the survey I found that the customers came to know about the B.M. Munjal
Industries brand products through advertisement this means that they have strong
medium of advertisement.
Through my survey, I came to know that most of the customers buy B.M. Munjal
Industries because of their quality.
It was observed that most of the customers expressed their unhappiness over the
price of B.M. Munjal Industries despite this the customers prefer the B.M. Munjal
Industries because of the quality and it shows that customers are very loyal towards
the B.M. Munjal Industries brand products.
During the study it is found that packaging of products is excellent, so we can say
that packaging is at its best level, which is also an influencing factor to attract the
customers.
It is inferred from the analysis that maximum no respondents agree that promotional
tools used by company are good and attractive.
During the study it is found that the brand image of B.M. Munjal Industries Nuts
and Bolts is good as compared to other Nuts and Bolts products in the market.
During the study it is found that customers have positive attitude towards the B.M.
Munjal Industries products.
Through my survey, I came to know that most of the customers are satisfied with the
B.M. Munjal Industries brand cycle products.
Customers do not differ in their opinion about the factor attracted to buy B.M.
Munjal Industries brand cycle products on the basis of age.
Customers do not differ in their opinion about the price of B.M. Munjal Industries
brand Nuts and Bolts on the basis of age.
Customers do not differ in their opinion about the attitude towards B.M. Munjal
Industries brand Nuts and Bolts on the basis of age.
Customers do not differ in their opinion about the satisfaction level towards B.M.
Munjal Industries brand Nuts and Bolts on the basis of age.
37
CONCLUSION
It is concluded that brand equity might be influenced by attribute knowledge more
than customer preference. This may be due to customer biasness and prejudice,
Customers’ product evaluations are influenced by memory. The biasness can be
reduced by having current information, experience and knowledge. Therefore, it’s
not surprising that brands that customers believe offer superior value are most
preferred brands chosen often. Brands with higher equity resulted in greater
preferences and high market shares.
Price is one of the attribute used by customers to evaluate a product. Price can
sometimes be an indicator of quality; with a higher price indicating higher quality.
Customers perceive that a higher price can be attributed to the higher cost of quality
control. Some customers are highly price sensitive; where by a high prices may shift
customers to Competitive brands. Therefore price can have a positive or negative
influence on customers.
38
CHAPTER –VI
SUGGESTIONS
39
SUGGESTION
From the survey of customers it is clear that not only brand positioning, brand image
and customer demands are not only controlling factors of the sale of product of the
company but the attitude and satisfaction also play a major role. B.M. Munjal
Industries should thus focus on the following points:
To retain existing customers means offering the best scheme. This would
automatically attract new customers. B.M. Munjal Industries need not spend on
advertisement to attract new customers.
Know the customer needs and understand them thoroughly before they know them
themselves.
There should be no compromise in quality and the availability of Nuts and Bolts.
Let the customers define what attributes are important. Know the customer’s
requirements, expectations, and wants.
Benchmark the data against competitors, and identify competitive Strengths and
weaknesses.
To use technology to improve customer service and enable a greater degree of
customer differentiation in order to deliver unique customer interactions.
Be committed to getting better and better and better.
40
BIBLIOGRAPHY
41
BIBLIOGRAPHY
Kothari C.R., “Research Methodology”, 2nd edition, New Age International
Publishers.
Kotler Philip, “Principles of Marketing”, 11th edition, Prentice-Hall, New Delhi.
Robbins P. Stephen , “Organizational Behavior, New Age International Publishers.
Nair Suja, “Customer behavior and Marketing” Himalaya Mumbai.
Kotler Philip and Armstrong Gery, “Principles of Marketing” , 12th edition,
Prentice-Hall, New Delhi.
www.hotfrog.in/Companies/bmmunjalindustries_1950691
http://www1.businessindex.com.ng/CompanyProfile.aspx?
MfgCode=9833579&mfgpaid=n
42
ANNEXURE
43
QUESTIONNAIRE
Name …………………………..
Age……………………………...
Contact No…………………….
1. Which factor attracted you to buy B.M. Munjal Industries products?
(a) Price [ ] (b) Package [ ]
(c) Quality [ ] (d) After sale services [ ]
(e) Company image [ ]
2. Are you loyal to B.M. Munjal Industries brand products ?
(a) Strongly disagree [ ] (b) Disagree [ ]
(c) Indifferent [ ] (d) Agree [ ]
(e) Strongly agree [ ]
3. According to you B.M. Munjal Industries are:
(a) Excellent [ ] (b) Very Good [ ]
(c) Good [ ] (e) Fair [ ]
(f) Poor [ ]
4. According to you prices of B.M. Munjal Industries is?
(a) Very high [ ] (b) High [ ]
(c) Normal [ ] (e) Low [ ]
(f) Very low [ ]
5. Packaging of B.M. Munjal Industries is good and attractive:
(a) Strongly disagree [ ] (b) Disagree [ ]
(c) Indifferent [ ] (d) Agree [ ]
(e) Strongly agree [ ]
44
6. Promotional tools used by B.M. Munjal Industries are good and modern:
(a) Strongly disagree [ ] (b) Disagree [ ]
(c) Indifferent [ ] (d) Agree [ ]
(e) Strongly agree [ ]
7. What do you feel about quality of B.M. Munjal Industries products?
(a) Excellent [ ] (b) Very Good [ ]
(c) Good [ ] (e) Fair [ ]
(f) Poor [ ]
8. B.M. Munjal Industries products are available everywhere any time:
(a) Strongly disagree [ ] (b) Disagree [ ]
(c) Indifferent [ ] (d) Agree [ ]
(e) Strongly agree [ ]
9. Brand image of B.M. Munjal Industries products is good as compared to
other products:
(a) Strongly disagree [ ] (b) Disagree [ ]
(c) Indifferent [ ] (d) Agree [ ]
(e) Strongly agree [ ]
10. Your attitude towards B.M. Munjal Industries products is:
(a) Highly positive [ ] (b) Positive [ ]
(c) Negative [ ] (d) Highly negative [ ]
11. You will change to other products in case there is any change in:
(a) Price [ ] (b) Package [ ]
(c) Quality [ ] (d) After sale services [ ]
45
12. Are you are satisfied With B.M. Munjal Industries?
(a) Highly Dissatisfied [ ] (b) Dissatisfied [ ]
(c) Indifferent [ ] (d) Satisfied [ ]
(e) Highly Satisfied [ ]
13. Do you informed about the products of B.M. Munjal Industries?
(a) Usually [ ] (b) Always [ ]
(c) Sometimes [ ] (d) Never [ ]
14. Any Suggestions?
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
Signature of Respondents
46