indian pen industry project

CAPSTONE PROJECT: PEN INDUSTRY 2012

ITM BUSINESS SCHOOL

Study of Marketing Mix & Penetration, Consumer Buying Behavior,

Effectiveness of Exclusive Business Outlet in Indian Pen Industry:

Exploratory Research

Submitted by: Saunak Das(KHR2010PGDM20F004)

Faculty Guide: Dr. Ankush Sharma

Academic Year

2010-2012 (PGDM - MARKETING)

ITM Business School

25, 26, Institutional Area, Kharghar, Sector- 4,

Navi Mumbai -410210

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Declaration

I, Saunak Das, student of PGDM(2010-2012), hereby declare that the Capstone report on “Study

of Marketing Mix & Penetration, Consumer Buying Behavior, Effectiveness of Exclusive

Business Outlet in Indian Pen Industry: Exploratory Research” submitted to ITM business

school in partial fulfillment of PGDM course is the original work conducted by me.

The information and data given in the report is authentic to the best of my knowledge.

This Capstone report is not being submitted to any other University for award of any other

Degree, Diploma. I further certify that without any objection or condition, I grant the rights to

Institute for Technology & Management to publish any part of the project if they deem fit in

journals/Magazines and newspapers etc without my permission.

Place : Mumbai

Date : 10-02-2012 ----------------------------------------

Signature

Name : Saunak Das

Class : PGDM-Marketing 2

Roll No. : KHR2010PGDM20F004

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CERTIFICATE

This is to certify that the Project Work titled “Study of Marketing Mix & Penetration, Consumer

Buying Behavior, Effectiveness of Exclusive Business Outlet in Indian Pen Industry:

Exploratory Research” is a bonafide work carried out by Saunak Das, a student of PGDM

program 2010 – 2012 of the Institute for Technology & Management, Kharghar, Navi Mumbai

under my guidance and direction.

Signature of Guide:

Name:

Designation:

Address:

Date:

Place:

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Acknowledgment

Written words have an unfortunate tendency to convert genuine gratitude into stilted formality.

However, I feel this is the best way to express my appreciation for everyone concerned.

Working in the project, has been an incredible experience for me. For this very wonderful

experience I would like to thank a lot of people without whose co-operation and support working

on this summer project report would not have been so pleasurable and interesting.

I would like to take this opportunity to express my deep gratitude to Dr. Ankush Sharma, for

providing me an excellent opportunity to understand the intricacies of Maketing Mix,

Penetration, Consumer Buying Pattern and effectiveness of Exclusive Business Outlet in Pen

Industry.

I would also like to thank Mr. Bharani Patri Vyas, Ms. Tejpreet Kaur & Mr. Prithviraj

Pradhan for their helpful suggestions and always motivating me to perform better. Without their

encouraging support, valuable suggestions and timely inputs, this project would never have been

possible and I would have been deprived of a vast treasure of knowledge.

Also I would like to thank my family and friends who have been a constant support all

throughout this project.

These acknowledgements are one way where I can thank the people who have been instrumental

in the making of this project. Without their help and guidelines it would be very difficult task for

me to try and plan this project and actually make it.

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CONTENTSDeclaration …………………………………………………………………….. 03

Certificate …………………………………………………………………….. 02

Acknowledgement …………………………………………………………………….. 04

Executive summary …………………………………………………………………….. 07

Introduction to Stationery …………………………………………………………………….. 09

Literature Review …………………………………………………………………….. 16

Indian Pen Industry …………………………………………………………………….. 20

Pen Industry Pyramid …………………………………………………………………….. 25

Marketing Mix …………………………………………………………………….. 28

Product …………………………………………………………………….. 29

Pricing …………………………………………………………………….. 50

Place …………………………………………………………………….. 56

Promotion …………………………………………………………………….. 64

Seasonality & Future Scenario …………………………………………………………………….. 71

Market Penetration …………………………………………………………………….. 72

Linc …………………………………………………………………….. 73

Consumer Buying Behaviour …………………………………………………………………….. 75

Research Objective …………………………………………………………………….. 75

Research Methodology …………………………………………………………………….. 76

Questionnaire Analysis …………………………………………………………………….. 77

Retailer Side …………………………………………………………………….. 77

Customer Side …………………………………………………………………….. 84

Conclusion …………………………………………………………………….. 99

Retailer Speaks …………………………………………………………………….. 99

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Customer Speaks …………………………………………………………………….. 100

Recommendations …………………………………………………………………….. 102

Limitations Of the study …………………………………………………………………….. 104

Future Scope Of the Study …………………………………………………………………….. 105

Exclusive Business Outlet (EBO) …………………………………………………………………….. 106

EBO Feasibility Plan …………………………………………………………………….. 109

Present Scenario …………………………………………………………………….. 115

The Way Ahead …………………………………………………………………….. 117

Bibliography …………………………………………………………………….. 118

Annexures …………………………………………………………………….. 119

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EXECUTIVE SUMMARY

ABSTRACT

My topic for the study is on Stationery Industry. Stationery Industry consists of

School Stationery, Office Stationery, Writing instrument & Computer Stationery. It is a vast field

where a specific content needs to be studied. Therefore, I have chosen Pen Industry (Writing

Instrument) specifically to study its Background Detail, Market Potential, Distribution Channel,

Profit Margin, Consumer Behavior & many more.

Pen is a product, which is used by each and every person. There are various brands of pen in the

market of different types Price, Color, design, Grip etc. The pen market is full of competition

where the consumer possesses vast variety of choice to select his brand which depends on his

Buying Behavior. It is very difficult to describe Consumer Buying Behavior about pen. Though,

I will try to find how the consumer purchases a particular brand & the effectiveness of having an

exclusive business outlet of a pen brand.

The technique of data collection is through questionnaire as it is less complex and

easy. Research Method will be primary as well as secondary. Primary research includes data

collected from retailers, consumers & distributors. Secondary research includes data collected

from web, magazines & company profiles. Graphical method, Percentage & Average Method

will be used as tools /techniques of analysis.

Research Methodology will be exploratory in nature in order to know the factors hidden behind

consumer preference & perception on pen of various brands. The study would be conducted in a

span of 2 weeks from retailers & customers within South Kolkata region & Navi Mumbai region.

The study will be of immense help to the Company Marketing Managers of pen industry to

Design an Effective Marketing Mix for its target Customers.

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OBJECTIVES OF THE STUDY

To study Marketing Mix Of Pen Industry

Segmentation, Targeting, Positioning & Differentiation of Various brands

Examine the existing organizational arrangement for the distribution of products

To know the market share of various pen producing companies

To analyze the margin of profits in various pens

To determine comparative consumer perception of consumer for pens between Rs.5-Rs20

To determine consumer preferences in respect of pen brands

To know the various reasons for which customers purchase pen

To understand the buying behavior of the consumers

To analyze the effect of display on customer purchasing

To understand relatives influence on customers in the purchasing process

To determine the main reason for 'Preferred' Brand

To understand the preference of brand from retailers point of view

To study the impact of advertisement on consumers in different Age Group, Income

Group & by profession

To help the Company Marketing Managers to Design an Effective Marketing Mix for its

target Customers

Effectiveness of Exclusive Business Outlet in the awareness & improvement of sales

performance

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STATIONERY INDUSTRY IN INDIA: Overview

Introduction

The term Stationery comprises of all the articles from pin to pen and from papers to files

and folders. Products comprised under it are paper products, computer stationery, school

stationery, office stationery etc. The Indian stationery industry is worth Rs 11,200 crore,

comprising of a wide variety of products and categories.

School stationery: It consists of a wide range of stationery products used by teachers and

students in the schools. It includes popular stationery products like notebooks, erasers, pencils,

rulers, sharpeners, writing boards, exam boards, graph book, pencil boxes, geometry boxes,

notebooks covers, glue sticks, maps, children paper clips and binders, pencil grippers, calculators

and many more.

Office stationery: Products include correction products, book/ magazine racks, business

organizers, card holders, cash boxes, clip boards, dampers, desk calendars, desk organizers,

document holders, glues, glue sticks, letter openers, message pads, stick ups, plastic paper clips,

paper trays, paper weights, pen holders, trays, stands, pen holders, cases, pocket planners,

punches, rubber bands, scales, rulers, scissors, stamp pad inks, stamp pads, staple removers,

staple pins, staplers, tapes and dispensers, telephone diaries, etc.

Writing instruments: It includes ball pens, correction fluids, pens, tapes, synthetic, PVC

Erasers, fountain pens, gel pens, highlighters, inks, markers, 0.5 and 2 mm pencils, micro tip

pens, pen refills, pen sets, pencil leads, roller pens, sharpeners, marking pens.

Computer stationery: It comprises of printer toners, computer CDs, floppy disks, computer

paper, printer ink, printer cartridges, CD covers, etc.

The Indian stationery market is influenced by macroeconomic development, national

income and lasts but not the least the ever-growing Indian population. The government policies

and the tax structures influence the general economy of the country which in turn affects the

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purchasing power of the consumer thus affecting the sales. The Indian Stationery Industry is

highly unorganized; the organized sector players in the stationery industry are estimated to be

less than the unorganized sector players. Also the unorganized stationery players are expanded

throughout the industry and controls major market share.

The Indian buyer is price sensitive and would like to have the best possible product

which suits its need and pocket. The manufacturer of unorganized sector without proper billing

practices dump goods at cheap prices to the buyers at a very low rate while the manufacturer and

suppliers from the organized sector have to bear the burden of taxation laid down by the

government which creates the major gap between the pricing structures of the two sectors.

The Indian Stationery Market is said to be growing 10 to 15% annually. The

manufacturers have started building new product strategies, which helps in reducing their overall

cost without compromising on quality thus producing a good quality product at competitive

price. They have learnt that innovation, flexibility, performance and versatility are the key area

of focus in the design and development of any product. Also the manufacturers are now into

researching and developing into their products and consumer's attitude thus finding out solutions

to provide customers the best products at cost effective prices.

Also the buyer is now becoming price conscious and is ready to spend more if a reliable

product is offered to him. Even in kids stationery today it is very necessary to make your product

creative and user friendly. The Indian buyers purchasing capacity has also started increasing with

the increase in the overall economic growth of the country. The taste of the people has also

improved with the improving technology and their attention has now been drawn towards

branded products available in the market. Branding plays a major role in the market today these

goods have greater marketability than the non - branded goods.

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STATIONERY INDUSTRY BREAK UP

62%32%

6%

Stationery Market in India 2011INR 11,200 crore

Paper & Notebooks

Writing Instruments

Others

Source: DNA (September 15, 2011)

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Competition from China

India is constantly challenged by the growing competition, especially from neighboring

countries such as China, Indonesia and many other countries that supply higher quality products,

as compared to India.

Chinese manufacturers are the most competitive among all the other world market

players as they have an advantage of

Mass production capacity

Aggressive favorable government export policy

Simplified low taxation

Well developed infrastructure

As part of the Indian government's liberalization program, the restrictions on imports are

removed and now imports become more easy and simplified. Secondly with development and

acceptance of Internet technology, sourcing the desired supplier in any part of the world has

became a very convenient task. Thus imports of Chinese stationery products are a major threat to

our stationery industry.

Malpractice of under invoicing is carried very frequently by importers thus giving them

clear advantage to the extent of nearly around 15 % to 20% than the cost of the Indian organized

manufacturers. These evasions of taxes by such importers lead to the incapability of organized

manufacturer to compete with the MRP of importers even though good innovative products are

supplied by them.

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GLOBAL STATIONERY MARKET COUNTRY/REGION WISE

ROW10%INDIA

6%CHINA8%

JAPAN15%LATIN AMERICA

8%

NORTH AMERICA26%

EUROPE27%

Geographical Stationery Market Revenue Break Up 2011

Source: BIC Estimate & Published Research 2011

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Threats to the industry

Lack of awareness - Due to lack of desire and unawareness about the products, the

consumer is used to buying whatever is available at the local stationery shops.

Competent local players - Indian local players hold the major share in the

stationery market, which is a challenge for Indian organized players.

Price variations - Local players, without any proper billing, sell products at cheap

prices, whereas, organized players have to go through proper billing and taxation, which

creates a gap between the prices of the two sectors.

Low cost products - The stationery products are low cost products and the

advertising spending is very low in this industry; it is difficult to attract the customers to

buy a particular product.

Branding Revolution

The Indian market is slowly developing into a brand conscious market. Branded goods

are expected to have premium quality as well as a value for money. They have started promoting

their brands with the help of powerful and popular Medias like advertising, electronic, internet

etc. Also active participation in national and international trade fairs have helped them in

creating awareness for their products and thus increase their growth in the market, also

incentives and other promotional strategies have benefited the Indian manufacturer in building

image for their brand. Thus it is apparent that the Indian stationery Industry slowly and gradually

with the right kind of input, approach and with government support can not only survive from its

competition but put its first step into achieving total growth and development.

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Introspection Time

Indian businessmen involved in the business of stationary items needs to work on proper

research and development of the sector. Design, Colors, Quality, Themes, Reaching the right

partners and to find out new markets for their products should be on their agenda. There is a need

to focus on providing assistance to businessmen for buying good machinery, necessary

infrastructure should be provided, to enhance export activities, workshops, conferences and

training programs should be conducted at state and national level. Logistics is also a key concern

that goods should reach on time which helps in maintaining a relationship with various

customers across the globe.

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LITERATURE REVIEW

As perceived by Mr. Manoj Lodaya, CEO, Corporate Stationery, says “the Stationery

industry has a flourishing future in its coming years and over a period is estimated to grow at 10

to 15% p.a. The demand for stationery goods will increase if good quality products are offered

and new marketing strategies are followed. Also the government has come out with education

enhancement schemes which in turn will give a growth to this sector.”

Mr. Sagar Tejura, Importer and Official Distributor, for Maped in India, has said “the

consumers are ready to spend if a quality and innovative product are offered to them. The

consumer is the king today and he today enjoys the choice of buying with so many

manufacturers and suppliers running the market. Also the government's focus on increasing

education everywhere in the country has proved to enhance the growth of stationery market. This

has helped the consumer in getting matured day by day and today he can easily distinguish and

choose the best product, which suits his purpose among the vast choice given to him. Also

government's liberal policies on taxation and other aspects have proved to be a stepping stone to

the growth of the stationery industry.”

“The Indian stationery industry has witnessed phenomenal growth over the past couple of

years. Growing beyond its set boundaries of writing instruments, stationery today, includes a

huge gamut of products across varied ranges. Further pushing the industry on a growth trajectory

is the influx of big and renowned players. Even the high-end luxury brands, which were earlier

limited to the recesses of select showrooms, have made their way into larger retail outlets, thus

finding more takers.”

Mr Sivaraman Balakrishnan, Deputy Manager Marketing, Crossword Bookstore says, “I

think, the present day consumer is educated, has a knack for experimentation, has the capacity to

spend and above all, wants value for money. Given the scenario, the penetration of more and

more luxury brands and consumers opting for them is no big surprise. As for local formats, well

they have their own share of market and will continue to exist.”

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According to Mr N.V.Sivakumar, leader retail practice, PricewaterhouseCoopers,

“Consumers want an increased variety of choice in stationery products ranging from private

label/branded, domestic/international, etc. As companies expand their footprint, it is essential

that they provide their workforce with the right tools to make their jobs easier — pens that last,

highlighters that do not dry up, file folders that are durable, etc. It is important to ensure that

products are of good quality and priced competitively.”

According to Mr Saket Bhatnagar, Principal Consultant, Technopak, “The Indian retail

industry is evolving. Three international office supplies giants – Office Depot, Staples and Office

1 Super Store have entered the Indian market. Office 1 Supermarket already has stores

operational, while the other two will open up soon. Looking at the factors for growth in this

industry, there are high levels of corporate activity in the country like more and more offices

being opened up and offices are the largest users of stationery products. Secondly, brand

consciousness has increased substantially among the consumers. People want brand promise and

are ready to pay extra for it.”

Vimal Rathod, managing director, Flair Pen & Plastic Industries, says the industry has grown 15-

20% annually in the last decade or so and will continue to grow at that clip in the foreseeable

future, too.

Deepak Jalan, MD of Kolkata-based Linc Pen & Plastics, believes there is going to be no

alternative to plastic as the prime raw material in the coming years.

What’s going to be new, however, is consolidation. “It has not yet happened but it will start

soon,” says Jalan. His company, also a listed player, reported revenues and net profit of `225

crore and `8 crore, respectively last fiscal.

For all that, however, Jalan believes that despite the downturn, greater growth is likely to come

from exports than from the domestic market.

Hitesh Jain, director of Shiv Shakti Plastic Industries, the maker of Montex pens and nibs, says

the market for the fountain pen is gradually shrinking. “But in India, schools make ink pens

mandatory for students for a few years,” he points out. Moreover, says Shah, children today have

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more pens than their parents did. “Most couples have just one or two kids compared with four or

five or even earlier, so parents spend all their resources on their kids.”

Mr. Ronnie Netto (Director of Today's Writing Product Ltd (TWPL) said –

"We noticed this trend about two years ago and it has picked up since then. Last fiscal, our

revenue from this segment was over Rs 10 crore of our total turnover of Rs 80crore. And this

fiscal ,we expect it to almost touch the Rs20-crore mark .We have set up an exclusive division to

handle such orders, as they require personalized service. We estimate this market segment to

grow to Rs 500 crore in the coming years, now; Indian manufacturers are beginning to reach out

to the overseas market. After UK's Pound land tied up with TWPL to have Today's brand of pens

in its chain of stores, we expect to export pens worth $1 million to UK in the current fiscal,"

“Increasing penetration in FMCG retail stores boost the phenomenal growth of writing

instruments with Ballpoint Pen takes a leading share in India’s pen market.”

Comment from ACNielsen (world's leading marketing information provider)

“Pen market previously suffered from lack of organized information on the market size or market

shares of various players, since most players are not listed companies and distribution was

mostly limited to stationery stores,”

Anmol Sherpa (Associate Director Client Services, ACNielsen)

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Literature Review On Target location

Mr. Vikram Mane, CEO, Cartoleria Retailing Pvt. Ltd says, “Location is still very

important - it is still sourced from the nearest place to your home, especially in the case of

students’ stationery. Mothers have a say in buying till say ten years of age of the student, but

their stationery requirement is the highest till that age due to loss or damage. For this age group

super stores located in their locality selling stationery could be the best suited. For office

stationery, you need to go to their doorstep and sell.”

Commenting on the importance of selecting the ideal location, Mr. Balakrishnan says,

“Appropriate location is decided keeping in mind the target group and the range of products on

offer. In case of Crossword Bookstores, malls and high streets are the perfect bid.”

Adding to this point Mr. Srivastava says, “The ideal location for a stationery store will be

firstly preferred on high streets surrounded by commercial complexes and secondly within

office/college complex and lastly in malls.”

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PEN INDUSTRY IN INDIA

Pen manufacturers, much like newspapers, are betting on the growing literate population in the

country to write their growth story. With a literacy rate of 66% out of 128 crore and still

counting, India has a large way to go and has a sizeable market nonetheless.

“22 crore children who are in school today is a number that assures pen manufacturers of healthy

business despite the growing spread of new-age devices such as computers and mobile phones”,

says Amrut P Shah, chairman & managing director of paper stationery firm Sundaram Multi Pap.

Sundaram, a listed company, is among the biggest in its space.

The Indian pen industry, which includes ball pens, fountain pens, gel pens and markers, among

others, is worth Rs2,800 crore. Exports are a sizeable and growing segment, accounting for about

40% of this, or around Rs1,120 crore.

“About 80% of the market is organized and the top ten companies contribute 70% to the

industry’s revenues,” notes Rathod, who is also the chairman of the Bombay Fountain Pen

Manufacturers and Traders Association, an all-India body with over 600 members.

Reynolds, Cello, Linc, Luxor, ITC, Todays, ADD Pens, Montex and Flair are among the leading

pen manufacturers.

“Ball and gel pens are responsible for 80% of the market,” Rathod says. Fountain pens are fast

losing their sheen thanks to the easy usability of ball and gel pens.

A mass market ball pen is priced at Rs3-10 and a gel pen at Rs 5-10. Typically, a pen maker

makes a profit of about 20-25 paise on a Rs5 pen whose manufacturing cost would be Rs2.

The sector has seen many changes in the last six decades with wooden and ebonite pens giving

way to metal and, later, plastic. Moreover, mechanization is now the norm in the industry where

hand-moulding was once the norm.

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India exports pens to more than 120 countries and, some believe, faces stiff competition from

China where the pen industry is tipped to be twice as big.

79%

15%6%

TOTAL INDIAN WRITING INDUSTRYINR 3,500 crore

Pen

Pencils

Others

Source: DNA (September 15, 2011)

Most Indian companies cater to the "Value for Money"(i.e. High Volume Low Value Strategy)

while International Players cater to Premiums segment operating through exclusive Distributors.

Globally writing Instruments Industry is estimated at Rs 50000 Crores (p.a). China controls

approximately 10% of the global markets while the Indian share had so far been Mini scale. But

given the superior quality perception that "Made In India" pens have over the Chinese, the

buying preference of major retailers has been shifting to Indian Products and Brands.

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80%

20%

INDIAN PEN MARKET 2011

Organized

Unorganized

68%

28%

4%

MARKET BREAK UP 2011

Ball Pen

Gel Pen

Fountain Pen

SOURCE: ACNielsen Retail Audit Report, April 2011

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The following Information regarding the Writing Instruments Industry Has been obtained from

the Public Sources like: The Mint, Business Line, The Economic Times, The Financial Express,

some Companies Catalog are Used along with Internet Web Support.

CHANGING CONSUMER BEHAVIOUR

The Purchase of a single Pen used to be a considered decision until not too long ago. Today,

most consumers buy multiple pens in a single Purchase. Because the consumer would go out

specifically to buy a pen earlier, today most buy along with a number of other things as a part of

their monthly provisions. Earlier there was one pen to write, now interestingly even as

communication is getting increasing psychological, there is different pen, ink, size for different

moods, needs and situations.

Gone are the days where pen were just considered as merely an item of writing, But now it a

Quasi Fashion Statement something that’s aligns with our Personality, still the Pen purchase

decision is considered As Low Involvement Decision.

GLOBAL WRITING INSTRUMENT INDUSTRY

Globally, Writing Instrument Industry is rising at a healthy rate despite growing computerization.

The global Writing Instrument Industry is estimated at Rs 50000 Crores.(p.a) where USA

Markets grew by 5% last year (2010-11) and is expected to grow by the same Proportionate at

this time too. China controls approximately 10% of the global market, due to its manufacturing

Process. India is becoming most preferred manufacturing destination after China. Indian

Products Quality is among best in the world, compared to china Mass Market Products. Indian

Market is growing healthily at 15 to 20% and is expected to grow with same Rate for upcoming

2 to 3 years (acc to CAGR)., where the organized sector now controls 75%+ market share as

compared to 54% up to 2004.

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MARKET AND MARKET INFORMATION (IN DETAIL)

The worldwide Market's Size for Writing Industry is Rs 50000 Crores (p.a) USA market

alone is $2.2 Billion Dollars (App 10000 Crores Rs).

Chinas exports of Pens are over Rs 5000 Crores (p.a).

India's Pens Exports are merely Rs 400 Crores (p.a).

The Annual Turnover of the Industry in India is now estimated at Rs 3500 Crores (p.a)

and is expected to Increase annual growth rate by 15-20% (p.a).

India is Viewed as Quality Supplier, where as China as Cheaper and Lower Quality

Products.

Germany, Japan, Taiwan & Korea were hubs for the Writing Instrument Industry, but due

to cast factor manufactured have started shifting to China and India.

Previously Switzerland was the manufacturing centre for Ball point Tips, but now India is

emerging as a major Tip Manufacturer satisfying not only Domestic demand but Global

demand also.

REGULATORY REQUIREMNTS

In India as per current law, the manufacturing of writing instruments is reserved or falls under

the category of SSI (Small Scale Industry Sector). Thus there is ceiling on Investment in Plant

and Machinery Manufacturing Process (Max limit of Rs 50 Crores), excluding Mould Making as

it is Highly Capital Intensive part of Manufacturing. As a result critical pen component like

refills are manufactured in house, while all non critical components are outsourced.

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INDIAN PEN INDUSTRY PYRAMID

Source: Linc Pen & Plastics Ltd.

Outlook as per LLPL(Linc Pen & Plastics Ltd.)

The global stationery product market is expected to touch USD 155.4 bn by 2015 aided by

technological advancement, increasing literacy rates and rising population. The Indian stationery

market is expected to grow at a CAGR of 20% over the next three years. Moreover, the thrust on

education by the Government will further accelerate the demand for writing instruments.

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Premium(Above Rs.400)Market Players: Parker , Mont Blanc, Cross,

Lamy, Sheaffer, among others

High Value(Rs.20 - Rs.400)Market Players: Uni-ball, Pilot,Parker, etc.

Mass Market(Below Rs.20)Market Players: Cello, Linc, Reynolds etc.


Change in Buying Pattern

2007-08 2010-11

SOURCE: SKP Research

CATERGORY WISE PEN USAGE

60%25%

15%

Consumer Market In Indian Pen Industry

Students

Commercial

Multilevel

SOURCE: Linc Pen & Plastics Ltd.

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Pre

mium andSemi-

Pre

mium Segment

Price: Rs 10 & Above

Revenue

Contribution:

12%

Mass

Segment

Price: Below Rs 10Revenue Contribution: 88%

Pre

mium andSemi-

Pre

mium Segment

Price: Rs 10 & Above

Revenue

Contribution:

27%

Mass

Segment

Price: Below Rs 10Revenue Contribution: 73%


GROWTH OF PEN INDUSTRY

Till late 18th century - feathers

Early 19th century - metallic nib

1870’s - fountain pens (Waterman)

1925-1940 - growth of fountain pens

After 1945 – first ball point pen

1985-1990 – Japanese gel technology

21st century – stylish pens, roller balls, etc.

MARKET PLAYERS IN PEN INDUSTRY

ADD Gel Pens LUXOR MONTEX CELLO CLASSMATE LINC REYNOLDS LEXI SCHEFIELDS NATARAJ

MARKETING MIX OF THE PEN INDUSTRY27


“Marketing mix is a set of marketing tools that the firm uses to achieve its marketing

objectives in the target market.”

“Marketing mix is the blending of 4 inputs or sub-mixes, which form the core of

marketing system. They are:

Product

Price

Promotion &

Place.

PRODUCT (INCLUDING STDP ANALYSIS)

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A Product is anything that can be offered to a market to satisfy a want or need. A product mean

the bundle, which satisfy human needs.

1. Ball Pen

2. Gel Pen

3. Refills

4. Fountain Pen

ADD PENS

Mission: Quality First……Cost Second

Product Range

Gel Pens- Gypsy, ADD 1st Rank

Ball Roller- Ballet, Impress

Exclusive- Maestro, Highness

Gel Roller- Alpha, Diamond Roller

Differentiation

ADD 1 st Rank : “experience”

ADD Cat : “style & performance”

ADD Achiever : “executive look but without executive prices”

Gypsy : “unique body color, vibrant looks, unconventional styling”

Corporate Customers

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Air Sahara

Binani Cement Ltd.

Brittania Industries Ltd.

Dabur Pharma Ltd.

Lotte India Corporation Ltd.

Segmentation, Targeting & Positioning

For Students: Ball & Gel Pens

For Executives: Roller Ball & Executive Series

For Office Needs: OHP Pens

Competitive Advantage

Benchmark for quality

Works across Diverse Climates

Present in more than 30 countries

Exported to Japan( pioneers of Gel technology)

Positioning: Quality First……Cost Second

LUXOR

Mission

“Establish Luxor Writing Instruments (P) Ltd. as the clear leader of the Indian Writing

Instruments market, both in value and image through sustained and profitable growth of it

franchises”

"We want the Parker brand in the pocket of every youth”

Product Range

LUXOR: Junior

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PILOT:

PARKER: BETA, VECTOR, JOTTER, REFLEX

WATERMAN: Serenite, Edson, Man 100

Segmentation

Upper sections of the society, including senior executives, businessmen

Young executives ,school and college going students

Corporate market

Targeting

Parker's target group is the top 15 million families in India”

Primarily targeted at the upper middle class consumers, senior level executives and

bureaucrats

Targeted its Vector brand at young executives and its Beta brand for the school and

college going students

Corporate market

Corporate Customers

Samsung

Aventis

Star

31


NIIT

American express

Usha

Titan

Wipro

Birla plus

Dabur

Nivea

India Today

Mc Dowels

Separate brand for B2B customers

Specialize in selling a company by marking high quality writing instruments with

company logo, name or message to ensure the message is seen and noticed everyday

Positioning

The Parker name itself certifies standard in quality and reliability

Shifted Parker's positioning from a serious, daddy's pen to a youthful and vibrant

brand

Multiple price and product options to address the entire section of the consumers

USP

The arrow design on the pen caps which is its signature style

The Parker name has set a standard in quality and reliability. The strength and

heritage of these powerful brands

World Class brand

LEXI

MISSION & VISSION

32


“We aim to be a leader in our business of writing instruments- by heightened sensitivity to

consumer needs and aspirations, setting new standards in quality products and capitalizing on

new business opportunities in our Industry”

Products

Plastic pens ( Ball pens, Gel pens):

Lexi sharp, Lexi QT, Lexi IQ Lexi 5

Lexi G, Lexi G7

Metal pens: LP 001, LP 002, LP 003….., LP 006

Corporate Customers

Pfizer ltd

Ranbaxy ltd

Times of India

Hindustan lever ltd

Tata Infotech ltd

Proctor & Gamble

Differentiation

Cater to specific needs

Consistency in supply

Segmentation & Targeting

Plastic pensà Students

Metal pensà Office Executives

Customised pensà Corporates

33


Positioning

“QUALITY FOR A GOOD PRICE” or “Affordability and ease of writing”

USP

Nickel silver tips for smooth, free writing

Original innovative designs

Ergonomically designed products for stress free comfort writing

Instaflow ink technology for smudge free writing

Leak proof fitting

Linc Pens & Plastics Limited

34


Linc is one of India’s leading manufacturers and exporters of ball pens, gel pens and all

other Stationery Suppliers. It’s a leading Exporter, manufacturer of Ball Pen and other

writing instruments in India

Head Office : Kolkata

Around 3 decades into business

Awards : ISO 9001:2000, Emerging India

Plants approved by some of the world's leading retail chain of stores like M/s. Walmart

Stores Inc, Tesco International, W.H. Smith etc.

Vision

To establish LINC as a global brand, known for its values, assertiveness and the acumen to

adapt to the ever-changing environment

Mission

To deliver innovative, user friendly and better-quality products at best value to the customers,

keeping in mind the prosperity of the company and its stakeholders

Products

Gel Pens: Ocean Gel, Linc excutive

Ball Pens: Linc Smart Gel, Glaycer

Linc Pens believe that writing instruments form an integral part of education and being

responsible corporate citizens, they make humble contribution to the society where literacy

seems to be a major issue. This prompted Linc to go for the corporate slogan of Encouraging

Literacy, a very apt platform for a company dealing in Writing Instrument. Linc has also put

forward a commitment of contributing 1% of its profits for promoting literacy drives.

Linc pen is India's Prime Manufacturer and Exporter of Ball Pens, Roller Ball Pens and

Gel Pens too. To endorse the commitment, Linc has already taken up some programmes with

leading educational institutions and is closely related to these programmes by financial support

and writing instrument.

35


Segmentation, Targeting & Positioning

Export: Stickball Pens, Retractable Ball Pens, Designer pens, Gel Pens, Rubber grip ball point

pen, Ball Pens

Students: Gel Pens, Ball Pens

Office: White board markers, permanent markers, Highlighters

Rs 5 segment: 60 % Market Share

Highest selling category is the Rs-5 ball pens, which accounts for more than 60% of the

revenue

Exports contributed nearly 22.2% to the total sales in 2010-11, up from 18.5 % in 2008-

09.

Successfully launched and will be launching number of products in higher price segments

Positioning: Useful for all spheres of life

Differentiator

In the current "commoditized" approach of the industry for this category, building long-term

brand value

36


USP

The USP of the company has been quality product at reasonable price i.e. value for money

through economically priced products with great price-to-performance ratio

REYNOLDS

Mission

High quality writing instruments, with R&D latest technology

Products

Ball pens: 045 fine carbure, 040 bold, fusion, office rite

Gel pens: Racer gel, Racer gel II, Racer gel active.

Lead pencils, Click pencils

Artoons: Fun Box, sketch pen, Safari, Jumbo combo

Markers: Permanent correction, OHP, whiteboard Highlighter

Ink pens

37


Competitive Advantage

Latest R&D facilities and technology

Excellent distribution network

Good quality and Brand image

G.M. Pens International Pvt. Ltd. is the exclusive licensee of Reynolds, France, in India and the

SAARC countries Headquartered in Chennai .G.M. Pens has pioneered the writing instruments

revolution in the Indian market. Commencing operations in 1986, G.M. Pens introduced to India,

international quality writing instruments, and marketed them under the brand name Reynolds.

38


G.M. Pens offers the widest range of writing instruments and accessories in the Indian market. A

variety of writing instruments including ball pens, gel pens, fountain pens, mechanical pencils,

markers, are marketed under the brand name Reynolds. A continuous focus on consistent quality

and a constant endeavor to provide quality products at affordable prices have ensured that

Reynolds has been the numero uno in the Indian writing instruments market. A substantial

investment has also been made in establishing the Reynolds brand name through the mass media,

especially through television and press ads, in an effort to convert the category from a

commodity to a brand dominated one.

Positioning: The pen the world prefers……

CELLO

1982: Started as tiny factory for making plastic households under Mr. G. D. Rathod

1986: New factory for Cello Thermoware is set up in Goregaon, Mumbai; Another factory at

Daman as demand rises. Exports products to other countries

39


1994: Uses state–of-the-art moulds from Italy. Becomes household name for quality

1995: Enters plastic molded ball point pen market. Cello Clear pens with Swiss tips and German

ink sweep market. It has created revolution in writing instruments industry.

Vision

Vision of “uncompromising quality and total consumer satisfaction”

Products

Ball Pens : Includes brands like Advantic, Maxriter, Finegrip, Gripper, Techno Tip,

Maxima, Pin point, Benz, Benz Roller, Executive, Tri Fit, High Power Ball, Speed,

Power Ball pen.

Gel Pens : Includes brands like Pointec, Tech Gel, Free Flo Roller, Flo Gel, Freeflo

Gel, Cello Genius, Cello Gold / Silver, I Zone Gel.

Retractable : Includes brands like Click Grip, Powermax, Sapphire, Voyager

Markers : Including brands like Evermark, Maxx 500, Pocket 300, CD Marker.

Pencils: Including brands like Smarty pencils, Smarty with Grip.

Gift Products: Benz / Benz Roller, Cello Gold / Silver, Cello Magica, Triffit

Differentiation

40


Inox Tip: Fibre tip technology that helps is smooth writing

LPHV: Low Pressure High Volume technology that helps to reduce pressure on paper

Elasto Grip: Elastic rubber grip to provide have perfect grip on the pen

Lubriflow: Used in Ball Pens for free and appropriate flow of ink

Lubrigel: Used in Gel Pens for free and appropriate flow of gel ink

Feather flow: Used to reduce the weight of pens for faster writing

STP Analysis

Segmentation:

School & College going students (Ball Pens, Gel Pens & Glitter pens)

Corporate Offices (Markers, Ball Pens, Retractable)

Target market:

Primary target market – Students (India), Corporate executive customers outside (Far

East, Mid East, Gulf)

Positioning:

“The Joy of Writing”

SCHEFIELDS41


Schefield’s various products in this range are:

BALLPOINTPENS:

Polo/Stickball

Rubber ball

Transparent Stick Pens

Frosty

Prism

EasyBall

Easy Grip

Elan

Golf

Direct Fill Pens

Retractable Ball Point Pens:

Elite

Icon-Metal Version

Retro

GelPens:

Gel1000

Speed Gel

Gel500

Glitter Gel 1000S

Gel 2

Mission: “The Write Choice, The World Over”

42


Incorporated in 1994, Schefields Exports is today one India's leading manufacturers and

exporters of gel pens and ballpoint pens. Schefields has grown from a modest turnover of USD

250,000 in 1994 to USD 3 Million in 2002. This growth has been possible through an almost

fanatical focus on quality and customer service, which has won us customers around

the world in the global writing instruments market. Their products have been widely accepted

because of the excellence in quality and our current exports cover a number of countries around

the globe, with our major markets being in the USA, UK and Africa. Our specialty lies in OEM

manufacturing for the world’s top brands.

Schefields manufacture a complete range of pens for the mass market, from the

economical direct fill throw away ball point pens to the top of the line smooth flowing gel pens.

43


Their products are carefully designed to suit requirements of customers, from value added

features such as rubberized comfort grips for Western customers to economical designs for the

African market. Products are also custom designed for markets where specific modifications are

needed to adhere to laws such as the need for ventilated caps and absence of back

plugs in the United Kingdom. They also provide services for development of custom packing

and printing for their products depending on the

needs of the customer. Their manufacturing processes are instilled with a quality focus to ensure

that the end product is perfect in all aspects.

Each pen undergoes rigorous quality control and is inspected at various stages in the

manufacturing process, from inspection of the components to writing tests and individual

inspection of the final product, to ensure that we deliver a quality product. Many of their gel pens

use tips imported

from Switzerland and inks imported from Germany / Japan to give you smooth flowing and

trouble free writing. All the products are certified to conform to the major European norms for

product safety and performance.

MONTEX

44


The goal to see the world proudly writing with the perfect writing instrument led to the formation

of Montex Group in the seventies, headed by Mr. Raman Jain .Starting off as the world’s largest

manufacturer of nibs, the company carved its niche in offering a host of quality writing

instruments.

Montex became the only Indian company to have everything – from manufacturing

accessories to assembling under one roof. Under the camaraderie of Mr. Raman Jain, Montex

today is a force to reckon, with a product profile as versatile and innovative. Montex has been

the first in India to introduce Transparent Ball Pens, Trendy Fountain Pens, Precision Tips, Gel

Ink Pens, Roller Ink Pens, Tank Pens, Rubber Grip Pens and Co-molded Pens. Montex is

recognized as a pioneer in the Indian pen industry with innovations to its credit.

In its endeavor to offer the best, the company has combined the advantages of its

infrastructure with the uniqueness of its raw material Supplying associates, who are world-

renowned names in their respective fields. The machineries used for production are some of the

biggest brands from Switzerland and Germany.

One up than all these is the thrust on regular updates in the field, and also consistent research and

development. The company has 3 state-of-the-art manufacturing units, located in the commercial

capital of India – Mumbai, along with other prominent locations. Montex is not only the most

popular brand in India, but also recognized world over. Its products reach out to over 35

countries in the world, covering almost all the continents.

Fountain pens, ball pens, gel pens and free ink system pens are the broad categories,

under which one could have several models ranging in colors, design and packaging. All

categories have a choice of blue, black, red and green ink colors. While price too plays an

important role in defining the range, of most importance is the distinctiveness of each product.

As per the current market trends, the company foresees a growth of 8-10% on annual basis in the

next 5 years, coupled with introduction of new models, upgraded technology, competitive

framework, planned distribution and promotions.

45


CLASSMATE Pens

ITC forayed into the pen industry with the launch of Classmate pens across markets offering the

consumer stylish and attractive designs.

Classmate pens has been positioned to deliver unmatched comfort & neat writing experience.

Classmate pens are attractive in design and superior in quality. The pens offer ergonomical grip,

precision engineered tips & controlled ink flow mechanisms to keep the writing smudge free and

the writing experience a pleasure!

Exciting range of pens from Classmate include B Qwick, B Neat, B Fine, B Positive, Volt, UVO,

Radeon and Genghis under the Ball point pens and Gelofun, Octane, Crypton, Attila and Trojan

under the Gel pens.

TODAY’S WRITING PRODUCT LIMITED(TWPL)

Today’s Writing Products Limited (TWPL), Incorporated in April 29, 1992 as Creative Stationo

Products Ltd By promoter Rajesh.K.Drolia, a first Generation Entrepreneur is one of the leading

manufacturer of pen in India. Company has now changed it names from Creative Staiono to

Today’s writing Products Limited since October 1995.The company came up with it maided

public Issue at par in April 1996, which was oversubscribe two and half times. TWPL has been

awarded with " Certificate For Excellence' by the "Writing Instrument Manufacturer's

Organization Of India for the Year 2001-02, & 2002-03.

46


Name of the Product Ball Pen/ Gel Pen. Point/Tip Of the

pen(mm)

Price Per Piece

MRP.

1. Today’s C5 Ball pen 0.5 5.00

2. Today’s Cameos Ball Pen 0.6 5.00

3. Today’s Floral Ball & Gel Pen 0.5 5.00

4. New Starry Ball Pen 0.6 6.00

5. Notty Boy Ball Pen 0.5 & 0.6 5.00

6. School Mate Ball Pen 0.5 5.00

7. Extra Mate Ball Pen 0.6 5.00

8. 24 Carat Export) Ball Pen 0.7 15.00

9. Colour Slim Ball & Gel 0.5 & 0.6 6.00

47


10. Today’s Combo Ball pen 0.6 6.00

11. Extra Point Ball Pen 0.5 7.00

12. Today’s Gel @ 5 Gel pen 0.6 5.00

13. Ink Advisor Ball Pen & Gel 0.5 5.00

14. Today’s MIG 1 Ball Pen 0.5 & 0.6 7.00 &5.00

15. Pirate Ball Ball & Gel 0.5 10.00

16. Sonic Ball Ball Pen 0.5 & 0.6 10.00

17. Super Smooth Ball pen 0.5 12.00

18. Walker Ball Pen 0.5 10.00

19. Today’s 18 Carat Ball Pen 0.6 12.00

20. ZEE 200 Ball Pen 0.5 2.00

21. TRIK Ball Pen 0.5& 0.6 3.00

22. Pocket Pen Ball pen 0.5 3.00

23. Today’s Jockeys Ball Pen 0.5 2.50

48


BRAND WONDER SERIES: This is the product range of Gel Pen which is very much popular among

the Consumers not only in India but abroad also. It has enormous range of Gel pen out of which some of

them are displayed under. It has Both Ball & gel Pen.

Name of the Product Ball Pen/ Gel Pen. Price Per Piece

MRP

1. Wonder Gel Jasmine Gel Pen 5.00

2. Wonder Gel School Series Gel Pen 5.00

3. Wonder Little Heart Gel Pen 5.00

4. Wonder Perfume Gel Gel Pen 5.00

5. Wonder Chroma Gel Pen 5.00

6. Wonder Apple Gel Gel Pen 5.00

7. Wonder Sparkle Gel Gel Pen 5.00

Product Features

The entire above mentioned product are some of the most premium and profitable

products of the company over the years due to its features and characteristics. Different Pen

had different features in it as a reason it was most popular in its segment Business Person,

Student or Service Person or others

Gel Pen @ 5 Today’s its features are as under:

1. Pocket Friendly Clip

2. Clear Crystal Body

3. High Technology Tip Permitting smooth Ink Flow

4. 1st Gel pen @ Rate of Rs 5 in India

49


Ink Advisor

1. Smooth & Precise Writing

2. Ink Level Indicator

3. Easy Snap Cap.

Today’s walker

1. Smart Executive look.

2. Metallic Clip.

3. Inbuilt Grip for better Handling

4. Soft Grip Outer for long Writing

Sonic Ball

1. Soft Grip for Long Writing

2. Designer Tip

3. Air Flow Cap

4. Attractive Refill foiling

.

Carat 24 & 18

1. Innovative Design. & Executive Look

2. Smooth Precise Writing

3. Easy Snap Cap.

50


PRICING DECISION

It is the exchange value of product or services always expressed in monetary terms. Price is

matter of Importance both for the buyer and seller. Price is important factor in purchase decision

to the seller price is the source of revenue and to buyer price is the sacrifice of purchasing power.

Price is powerful marketing tool. Thus it must be used correctly from the outset. Therefore, all

marketing planners must plan an accurate Pricing Decision.

Pricing Policy is generally decided by the Head office by MD & VP in consultation with

Director Sales & Marketing and depending upon market condition, demand, Raw material Price,

Competitors Price and Products and other factors.

Price of the Pen is Decided taking into Consideration the following Cost:

1. Raw Material Cost

2. Production/manufacturing Cost

3. Transportation Cost.

4. Packaging & Labeling

5. State Wise Price Is Decided

6. Variable & Other Cost is undertaken.

7. Other factors Considered

Consumer Demand For the Product.

Analyzing the Competitors Price & Product Range

The Company has specific Price range for the different products for different Zones.

PRICES FOLLOWED BY DIFFERENT BRANDS & THEIR PRODUCTS

Classmate Pens

Name of Ball Pen M.R.P

Ilet 7

Safari 5

B Qwick 5

51


B Neat 5

B Fine 6

Radeon 10

Volt 10

B Positive 8

UVO 10

Name of Gel pen

GeloFun 5

Octane 10

Attila 15

Trojan 25

Margin Structure For Retailer

Nameof Ball Pen M.R.P % Margin of Retailer

Ilet 7 25%+ Scheme

Safari 5 Do

B Qwick 5 Do

B Neat 5 Do

B Fine 6 Do

Radeon 10 Do

Volt 10 Do

B Positive 8 Do

UVO 10 Do

Name of Gel pen

Gelo Fun 5 25%+ Scheme

Octane 10 Do

Attila 15 Do

52


Trojan 25 Do

Cello Pen


Butter Flow 10

Pin Point 10

Max writer 10

Griper 7

Name of Gel Pen

Pointack Gel 15

Classic Gel 10

Gel Stick 5

Igon 10


Name of Ball Pen M.R.P % Margin of Retailer

Butter Flow 10 30 %(approx)

Pin Point 10 Do

Max writer 10 Do

Griper 7 Do

Name of Gel Pen

Pointack Gel 15 30 %(approx)

Classic Gel 10 Do

Gel Stick 5 Do

Igon 10 Do

53


Reynolds Pen


045 6

Jetter 15 to 35

Name of Gel Pen

Racer 10

Mera Gel 5

Trimax 35



045 6 35%(approx)

Jetter 15 to 35 25%

Name of Gel Pen

Racer 10 25%

Mera Gel 5 30%

Trimax 35 25%

Linc Pen


Linc Smart Gel 5

Glaycer 7

54


Name of Gel Pen

Ocean Gel 5

Linc excutive 10


PLACE / DISTRIBUTION OF THE COMPANY

DISTRIBUTION CHANNEL

55


Linc Smart Gel 5 30%(approx)

Glaycer 7 35%

Name of Gel Pen

Ocean Gel 5 25%

Linc excutive 10 30%

MANUFACTURING FACILITIES

MOTHER DEPO

WHOLESSELERS

RETAILERS

CONSUMERS

DISTRIBUTORS STATE WISE

SUPER STOCKIEST


Distribution is an important function of any organization. Making the product available at right

place and at right time with less cost is the key objective of any distribution management personnel.

DISTRIBUTION SYSTEM OF A TYPICAL FMCG PEN INDUSTRY FIRM

A country's economic prosperity depends not only on the volume of production, but also on the

systematic, efficient and equitable distribution of all that has been produced in the country. Thus,

equal distribution of the production is also very important from the point of view of economic

prosperity.

56


The National Marketing in India is very vast with it covers a large canvas of more than 1100

million people, about 6,38,691 Villages, 561 Towns, around 593 Districts and 28 States, 7 Union

Territories, with a varied geography of deserts, plains, hills, mountains, plantations etc. having a

multiplicity of languages and varied business practices too.

So scientifically, the system of equitable distribution of commodities would rather be impossible

for any enterprise. It would be very difficult for the enterprise to cater to the needs of their very

varied clientele. And due to all the above situations, the enterprises are likely to restrict their

operations and confirm it to limited geographic territories unless there are excellent and cheap

facilities for transportation facilities are feasible and adequate, than a wide range of

intermediaries especially retail institutions like fair price shop, super bazaars, departmental

stores, etc. can be brought into the picture to reach the final products into the customers hands.

Due to all this only the distribution system is becoming more and more importance. Now the

essentiality of the physical distribution system cannot be ignored.

Thus, this distribution system needs special attention under economic planning. In knowledge

acquired by us under the present distributive mechanism, the composition of the system, its

structure and the way the various links in the system are related is at present are inadequate. Due

to these particular reasons, it is difficult to visualize clearly the various administrative problems

that are involved in the physical distribution system present in India.

DISTRIBUTION MANAGEMENT OF DIFFERENT FIRMS

LINC PEN

57


It has 51 super stockiest and over 1200 distributors spread all over India.

The company has 2,282 distributors countrywide and 20 retail outlets called Office Linc

& ‘Just Linc’ .

‘Office Linc' has roped in channel partners like Airtel, DHL, Blue Dart, Microsoft, Music

World, Book Cellar, Anderson Printing, Presto, Aqua Java, SKP Moneywise and Talk,

who will stock their products and provide after-sales services as well.

As on today, total 18 stores of both format are already operational and the company

intends to have pan India presence in future.

58

Super Stockiest

Distributor Wholesaler

Retailer

End-consumer

Mother Depot


CELLO

Every day millions of Cello pens hit the highways and make a dash to reach every little corner of

India. No wonder you will find Cello at over 731,000 outlets all over the length and breadth of

India. Cello network of 42 super-stockiest, 4200 distributors and an efficient field force of 900

spread across length and breadth of country. Cello employs some of the most advanced supply

chain management techniques to meet the size and the spread of demand and has a fully

computerized central order booking system intelligently integrated with production, units for

efficient production distribution and inventory management. Factory warehouses, C&F godowns,

distributions depots, dealer points and transportation crew make one the largest distribution

superstructures n the FMCG industry in India.

59Super Stockiest

Mother Depot


GLOBAL PRESENCE OF CELLO

Operates in over 62 countries including US, Gulf States, The Far East, Africa, Baltic nations,

Scandinavian countries and Commonwealth of independent states of former USSR.

Opportunities of Cello

• 80% of sales in India

• Rejection rate of 0.1%

• Reader’s digest – Most trusted brand in Asia (2007)

Classmate

The company will be doubling its distribution network in upcoming two years. Currently it has

900 distributors who make the products available in over 70,000 outlets in India.

60


Retailer

End-consumer

Finished Good Warehouse


LUXOR

Distribution Channel Management of LUXOR is same as that of CELLO.

• Initially launched in – Delhi, Mumbai, Kolkata and Chennai. As the demand grew, they

were made available in other urban areas

• Sales distribution network of 850 Super distributors/Distributors and 1,00,000 retail

outlets in more than 650 cities

• Low priced versions available in small stationary shops

Reynolds

The company' products are available in 3,00,000 retail outlets across India covered through

a network of 2500 redistribution stockiest and 30 main stockiest. This is facilitated by a sales and

marketing team of over 300 professionals.

61

Mother Depot

Retailer WholesalerStockiest

End-consumer


REYNOLDS EXCLUSIVE RETAIL OUTLET: WRITESITE

• Franchisee owned retail outlet

• First of its kind in the industry

62

Mother Depot

Super Stockiest


Retailer

End-consumer


• Presently 38 outlets in 16 cities : Ahmedabad, Allahabad, Chennai, Delhi, Ernakulam,

Gurgaon, Hyderabad, Indore, Jaipur, Kanpur, Lucknow, Mumbai, Noida, Raipur,

Varanasi & Kolkata

• Targets to set up 35-40 sites in malls

WriteSite, a novel concept in retailing, is an exclusive showroom for writing instruments.

It showcases a range of global products from Sanford and Reynolds, in a smart yet easy

ambience. Consumers can get to touch, feel and choose from a wide range of products in a

relaxed and trendy atmosphere. They have products for all ages, ranging from five rupees to five

thousand rupees.

PROMOTION STRATEGIES AND DECISION

Promotion plays a distinct role in marketing. It is a combined effort of salesman,

advertisement and marketing channels. Promotion Mix consists of the Following.

63


Advertising

Sales Promotion

Personnel selling

Publicity/Public Relation.

ADVERTISEMENT: It is any paid form of non personal presentation and promotion of Ideas,

goods or services by an identified sponsor. Advertisement can be in the form of TV Ad's,

Newspaper & Magazines, Banner & Hoardings, Print Media, and Or Internet. Advertisement

mainly uses TV Ad's to promote their sales. Company made effective slogan during the World

Cup (JEETNA HAI for TODAY’S) for the Indian Team. It has also used certain cricketers for its

Adz's for promoting Sales. Some of the Newspaper in which AD's of Company appear is as

under:

The Economic Times

The Times OF India

The Indian Express

SALES PROMOTION: Sales Promotion is also one of the elements of promotion mix. It is

done to promote the sales of the product. Company uses different Schemes for the Super

Distributors, Distributors, and Retailers & Wholesalers. Target Selling is the criteria for the

Super Distributor if they achieve that target specified they are awarded with commission (Not

Disclosed). For Wholesalers & Distributors different Scheme like Scratch Card, Lucky Draw,

Discount on Bulk Purchase, different Gifts, Commission etc are used to promote sales.

CORPORATE SALES PROMOTION: Promotional or Corporate Sales are now a day’s plays

a big role in marketing because the concept of getting anything extra along with the product is

becoming popular among the consumers. Company’s Promotional department has seized this

64


opportunity and is selling large chunk of its production to corporate customers which in turn is

used by them as sales Promotion tool.

LUXOR

• Advertising in the print and television media

• In 2001, Luxor roped Amitabh Bacchan due to his popularity among all groups

• Huge success with high recall value among TV viewers

• Display on special racks so that people could notice the complete range of pens

LEXI

65


LINC PENS

66


Shah Rukh Khan is the brand Ambassador

Appointed Rediffusion DYR, the fourth largest ad agency for brand building and has

allotted more than Rs 7 crore for ad campaign.

Punch line – “Zindagi Ke liye”

Participation in fairs / exhibitions to increase awareness.

Separate team to focus on modern retail.

Events with IPL teams Rajasthan Royals & Kolkata Knight Rider

Linc Pens Advertisement Through event:-

Linc Delears Meet with the Kolkata Knightriders & Rajasthan Royals

67


Meet with Shahrukh Khan on 31st August 2010 at Kolkata

To Teachers with Love:

Christmas celebration with underprivileged children:

68


REYNOLDS

• Print ads with agency JWT and other agencies

• TV ads with brand ambassador

• Student scholarship programs in schools

• Vending machines at schools and nearby places

• Sachin was signed the brand ambassador on May 15th 2006

• Sachin endorses in ads RacerGel,045

Reynolds Pens Advertisement:

69


CELLO

• By Radio Advertisements : In Radio Mirchi, Big FM, 91 FM

• By TV Advertisements : 8 commercial TV ad’s

• Internet Ads

Cello Pens Advertisement Through T.V and others:

70


Seasonality trend in the SKU

Major of the sales of Reynolds pens in Nov, Dec, March, Jun, July (approx 50% sales of total sales)

Major of the sales of Cello pen in Feb, March, Jun, July (approx 40% sales of total sales)

Major of sales of Linc pen in Nov, Dec, Feb, March, July, Sept (approx 70% of the total sales)

Conclusion

We can say that major sales come from the month of Nov, Dec, Feb, March, Jun, July.

FUTURE SCENARIO

• Outsourcing - A striking feature of the writing instruments segment, which is now

becoming the order of the day is outsourcing. For instance Linc, outsources to the extent of 30-

40 per cent of its requirements. Consequently, a great deal of attention has to be devoted to

vendor development, as quality is of paramount importance in the pen segment.

• Consolidation - Mergers and acquisitions would come into play in this business in a

big way as competition would have become quite fierce.

• Small-scale industry classification - The Writing Instruments Manufacturers,

Organization, reserved for the small-scale industry (SSI), has appealed to the Government to

increase the SSI limit for the writing instruments sector from Rs 3 crore to Rs 5 crore. If this

does happen, it would lead to more investments being infused in plant and machinery and pave

the way for further consolidation of the industry.

• Custom and Excise Duties – Considering the competition in the industry and race

towards free trade world, customs duties may reduce in future. This will make it difficult for the

players to survive if excise duties are not reduced accordingly.

MARKETING PENETRATION71


It is measure of the extent of a product's sales volume relative to the total sales volume of all

competing products, expressed as a percentage.

Cello33%

Reynolds16%Linc

11%Add Gel

8%

LUXOR4%

MONTEX2%

LEXI1%

Classmate2%

Rotomac1%

Today's2%

Unorganized20%

MARKET SHARE OF DIFFERENT PLAYERS: 2011

Source: Linc Pen & Plastics Limited, Kolkata Office

VISIT TO LINC PEN & PLASTICS LIMITED

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Incorporated in 1994 by Mr. S. M. Jalan, Linc Pen & Plastics Limited (LPPL) is India’s leading

manufacturer, marketer and exporter of writing instruments and stationery products. The

company is headquartered in Kolkata with manufacturing facilities in Falta SEZ and Serakole

(West Bengal).

DISTRIBUTION NETWORK

LPPL provides its products directly to consumers through its 11 direct outlets. It has a vibrant all-India distribution network of 48 exclusive channel partners, 3050 distributors and 213 sales representatives.

LPPL is looking to increase its presence in Western and Southern India where its market share is currently low. The company is looking to expand in states like Rajasthan, Madhya Pradesh, Maharasthra and Tamil Nadu.

Strong footprint in export market

LPPL has presence in over 30 countries and has registered its brand in 46 countries. The company has emerged as the largest selling brand in Myanmar, Yemen, Bangladesh and Sri Lanka.

The company’s exports has grown 6.36% from Rs 52.18 crores in 2009-10 to Rs 55.50 crore in 2010-11 despite concerns like geo-political unrest in Middle East and sudden imposition of excise duties on writing instruments in March 2011 (owing to time

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LINC

CHANNEL PARTNERS

DISTRIBUTORS

WHOLESELLERS/RETAILERS


consuming documentation). With Middle East problems subsiding, LPPL’s exports are expected to increase.

Increase in exports will be a positive development for LPPL as price realization is better in certain markets abroad leading to higher margins in export sales as compared to domestic sales.

Strong brand image

LPPL has successfully leveraged its strong brand image to reach to a wide consumer base in India. The company has invested Rs 22.70 crores in branding and advertising in the last three years. The wide scale branding exercise undertaken by the company will further enhance the topline of the company going forward.

The company has earmarked Rs 10 crore as advertisement budget with endorsers such as Shah Rukh Khan for Linc and Katrina Kaif for Uniball. This will further augment LPPL’s brand image and increase its mass appeal.

LPPL had inked sponsorship deals with three teams for Indian Premier League (IPL) 2011 – Kolkata Knight Riders, Deccan Chargers and Kings XI Punjab and was the Associate Sponsorer of Rajasthan Royals. The association with IPL has enhanced the brand image of LPPL through prominent visibility of the company’s logo in the electronic and print media for over a month.

Catering to all sections of the society

As pricing plays a very important part in India’s writing instruments industry, LPPL has products that cater to all sections of the society.

The company is focusing on premium and allied products (pens priced above Rs 10). This is positive for LPPL as competition in this segment is relatively lower as compared to the mass segment. LPPL is expected to launch 7 new products by Q2FY12 of which 4 will be in Rs. 10 and above segment. This will further augment the margins of the company going forward.

Alliances

LPPL enjoys an exclusive marketing tie-up with Mitsubishi Pencil Company Ltd, Japan for Uni-ball brand priced between Rs 30-225.

The company is also associated with C. Joseph Lamy, Germany for marketing its premium Lamy brand in India with prices starting from Rs 550.

CONSUMER BUYING BEHAVIOUR

RESEARCH OBJECTIVE

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"Identifying Consumer Buying Behavior regarding Pens"

The main objective behind the project is to identify consumer buying Behavior regarding the

Pen, which will ultimately help the company management to study the analysis and understand

the behavior that will enable the companies' marketer's to effectively sell the product.

SUB OBJECTIVES

1. To get a better understanding of pen Market.

2. To determine comparative consumer perception of consumer for pens between Rs.5-Rs20

3. To determine consumer preferences in respect of pen brands

4. To know the various reasons for which customers purchase pen

5. To understand the buying behavior of the consumers

6. To analyze the effect of display on customer purchasing

7. To understand relatives influence on customers in the purchasing process

8. To determine the main reason for 'Preferred' Brand

9. To understand the preference of brand from retailers point of view

10. To study the impact advertisement on consumers in different Age Group, Income Group

& by profession

11. To help the Company Marketing Managers to Design an Effective Marketing Mix for it

target Customers

RESEARCH METHODOLOGY

METHODS OF DATA COLLECTION

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The data has collected in two ways.

Primary Data: Primary research includes data collected from retailers, consumers & distributors.

Secondary data: Secondary data was collected from the magazines, websites and other such sources.

TOOLS AND TECHNIQUES OF DATA COLLECTION:

Questionnaire method: Primary data is collected by surveying the respondent personally. I have used both the Close & Open Ended Question where the researcher is free to answer in their own words too.

RESEARCH DESIGN

1) Purpose of study: Descriptive Study

In the current scenario, there are large numbers of stationary players present in India. At one point, the preferred brand in India for the stationary requirements used to be Reynolds and Luxor. The competition have kept on increasing as companies realized that to increase market share in India, they need to launch new and innovative products. Thus there is a need to know the changes in Consumer Behavior related to the different stationary players.

2) Degree of research question crystallization: Exploratory study

3) Method Of Data Collection : Personal Interview & Questionnaire Method

4) Method of Research: Applied Research

5) Type Of Research: Quantitative

6) Sampling Area: South Kolkata/ Navi Mumbai

7) Sampled Population : Retailers, Business Person, Service Person, Student, Housewife's etc

8) Sample Size : 100 Consumers

9) Sampling Technique : Convenience Sampling

10) Data Analysis: Using simple percentage method based on it table and graphs formulated

makes the data analysis

QUESTIONNAIRE ANALYSIS

Questionnaire for Retailers

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Q1-Who are the frequent buyers of pens in the price range between Rs5-Rs.20?

(Opt for 1 or more than 1)

(a) Students (b) Servicemen (c) Businessmen (d) Other Professionals

60%25%

10%5%

Frequent Buyers

StudentsServicemenBusinessmenOther Professonals

Findings:

Students are the most frequent buyers (60%) followed by service men (25%).

Q2-Maximun sales under the price range between Rs5-Rs.20 are for which brand of pens?

(Rank in order of sales)

(a) Luxor (b) Reynolds (c) Cello (d) Linc (e) Others (please specify)………

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5%

16%

26%45%

8%

MAX SALES Rs 5 - 20

LUXORREYNOLDSLINCCELLOOTHERS

Findings:

Between the range of Rs.5 – Rs.20, Cello accounts for 45% of the sales followed by Linc &

Reynolds.

Chief products of sales of

Cello: Cello Gripper, Butterflow, Pin Point, Finegrip, Maxwriter

Linc: Ocean Gel, Glaycer, Smart Gel

Reynolds: Racer Gel, Racer Gel II, 045 fine carbure, 040 bold, fusion

Q3-Maximum schemes are being offered by which brand of pens?

(a) Cello (b) Luxor (c) Classmate (d) Linc (e) Reynolds

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36%

26%

10%

8%

20%

Schemes

CelloLincReynoldsLuxorOthers

Findings:

Cello provides the best schemes according to the retailers, followed by Linc as compared to

others.

The schemes varies from free refill to free pen or free gift with bulk buying.

Q4-When people buy pens what among the following options do they prefer? (Rank as per

the priority)

(a) Price (b) Quality (c) Refillable (d) Schemes (e) Looks of the pen

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29%

27%14%

11%

19%

Preferences

Price

Quality

Refillable

Schemes

Looks

Findings:

According to retailer, the important buying characteristics of customers are as follows as per the

decreasing order:

Price (29%)

Quality(27%)

Looks(19%)

Scheme(14%)

Refillable(11%)

Q5-Sales of pens between the ranges of Rs5-Rs.20 is high during which period of time?

(a) High during exams (b) Stable throughout the year

(c) When new schemes are introduced.

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19%

68%

13%

Higher Sales Period

ExamsStable throughoutNew schemes are present

Findings:

68% retailers believe that sales are constant and stable throughout

19% feels that sales are more during exams

13% feels sales are more when schemes are available

Q6-Your best business deal is with which company of pens?

(a) Reynolds (b) Cello (c) Luxor (d) Linc (e) Others……………..

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15%

34%

14%

22%

15%

Best Deal

ReynoldsCelloLuxorLincOthers

Findings:

Cello tops the list with a consistent 30% profit margin for all its products

Linc being second, provides a profit margin which varies from 25% to 35% depending

upon the price

Reynolds being third, provides a profit margin between 25% to 30%

Q7- Do you think that Brand endorsement by celebrities is really helpful in boosting sales

of pens?

(a)Yes (b) No

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20%

80%

Brand Endorsement

YESNO

Findings:

80% retailers feels that brand endorsement through celebrities does not boost the sales of pen.

QUESTIONNAIRE FOR CUSTOMERS

Q1- How frequently you purchase a pen?

(a) Once in a week (b) Once in 15 days (c) Once in a month (d) Borrow

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12%

20%

54%

14%

Purchase Frequency

Once in a week Once in 15 days

Once in a month Borrow

Occupation Wise Classification (in %)

Purchase Frequency

Once in a week Once in 15 days Once in a month

Borrow

Business Person 12 20 68 0

Service Person 15 36 49 0

Student 14 12 40 34

Findings

54% of the respondents said that they buy a pen once in a month which means that they make

use of it fully for one full month.

14% people agreed to borrow it from someone and use. This means that either they may or may

not return it back. It depends upon the person who borrows it.

Conclusion:

Students (34%) mostly borrow pen from others, while service person buy pen mostly within 15

days or in a month.

Q2- Which pen strikes first in your mind when the range is between Rs.5 - Rs.20 (check

only one):

(a) Luxor (b) Reynolds (c) Cello (d) Linc (e) Any other……………….

84


8%23%

45%

12%

13%

Favourite Pen

LUXORREYNOLDSCELLOLINCOthers


Brand Luxor Reynolds Cello’s Linc Others

Business Person

6 21 36 15 22

Service Person 18 28 42 10 2

Student 8 18 58 14 2

Findings:

From the above pie-chart, it has been analyzed that majority of the consumers (i.e.) 45% of them prefer Cello as a brand to be used, which is followed by Reynolds (22%) & Linc (12%).Others include Lexi, Add pens etc.

Conclusion:Occupation Classification clearly signifies that cello is not only preferred by majority of the consumers and is preferred highly by all the consumers in different demographic segments.

Q3- Rank the brands of pens according to your preference from 1-5?

Cello, Reynolds, Luxor, Linc, Add Pens

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Rank 1 Rank 2 Rank 3 Rank 4 Rank 50

5

10

15

20

25

30

35

40

45

Luxor

Reynolds

Cello

Linc

Add Pens

Findings:

RANK 1: Cello

RANK 2: Reynolds

RANK 3: Luxor

RANK 4: Linc

RANK 5: Add Pens

From the above chart it is clear that that they recognize Cello as the leader among all the companies. At 2nd position is Reynolds & at 3rd position is Luxor followed by Linc & Add Pens.

Q4- Which type of pen do you currently use?

(a) Ball Pen (b) Gel Pen (c) Ink Pen (d) Roller ball Pen

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66%

21%

2% 12%

Pen being currently used

Ball Pen

Gel Pen

Ink Pen

Roller ball Pen


Types Ball Pen Gel Pen Ink Pen Roller ball Pen



Student 55 19 8 18

Findings:From the above pie-chart, it is visualized that majority of the consumer prefer and use Ball Pen. Almost 65% of the respondent says that they use Ball Pen. And the next best usage is of Gel Pen by 21%, followed by Ink & Roller ball Pen which are least preferred by the consumers in the modern or present market condition.

Conclusion:It is identified that only two categories are preferred by the consumers that accounts to nearly 80 % of responses. Consumer less prefer Ink & Gel Pen. Thus, Company should more concentrate in Ball & Gel Pen segments rather than Pilot or roller or Ink Pens.

Q5- Which Colour of Pen do you normally use? (Check only one)

(a) Blue (b) Red (c) Black (d) Multiple colors

87


75%

6%

15%

4%

Color Of Pen

Blue Red Black

Multiple Color


Color BLUE RED BLACK MULTIPLE COLOR



Student 65 0 16 9

Findings:

Blue is the most preferred Color for consumers and majority of the consumers uses blue Color as in colleges, schools, institutions, corporate and at many other place. Blue is commonly accepted Color for writing, whereas Red & Black are mainly used by the Professors or Doctors or Lawyers.

Q6- Which Ball Pen Point do you normally use?

(a) 0.5 (b) 0.45 (c) 0.6 (d) 0.8

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62%8%

12%

18%

Ball Pen Fineness

0.5

0.45

0.600000000000001

0.8


POINT OF PEN 0.5 0.45 0.6 0.8



Student 72 12 10 6

Findings

Point ranging 0.5 & 0.8 are more demanded and used in the market by almost 80% of the respondents. 0.45 & 0.6 are least preferred.

0.45 results into very thin writing where as 0.8 results into bold writings according to consumers.

Q7- What motivates you to buy a pen? (Ranking from 1 to 5)

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(a) Price (b) Quality (c) Refillable (d) Availability (e) Looks of the pen

Rank 1 Rank 2 Rank 3 Rank 4 Rank 50

10

20

30

40

50

60

70

80

PriceQualityRefillableAvailabilityLooks

FINDINGS for motivational features in a pen

Rank 1: Quality

Rank 2: Price

Rank 3: Refillable

Rank 4: Availability

Rank 5: Looks

Q8- Which Characteristics of Pen Influences your Buying Decision?

90


(a) Point (b) Grip (c) Long Life (d) Ink (e) Performance

24%

15%

11%12%

38%

Key Characteristics Of Pen

POINTGRIPLONG LIFEINKPERFORMANCE

PURPOSE: The Purpose of asking this question is to know the features/characteristic of pen that influences the buying decision of majority of the consumers in different segments (i.e.) Business Person, Service Person & Student.


Characteristics Of Pen

Point Grip Long Life Ink Performance

Business Person 24 12 10 12 42

Service Person 22 21 5 4 46

Student 29 16 10 11 34

Findings: From the above chart it has been analyzed that the most influencing characteristic is Performance by 38%, which is followed by the Point with 24%. Grip accounts for 15%. Long Life and Ink are least influencing features of the pen impacting consumer buying decision.

Service men look for Performance & Grip, and Students prefer the point.

Long life is being given the least preference by all.

Q9- Do you use separate pens for signing and writing purpose?

(a) Yes (b) No

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YES; 22.6

NO; 79.2

If Yes then which pen do you use for signing purpose and for writing purpose?

For signing purpose …………………………………

For writing purpose ………………………………….

Signing Purpose

Gel Pen, Parker, Uniball usually

Writing Purpose

Cello Techno Tip, Cello Gripper, Reynolds 045

Q10- Are you conscious of status while purchasing a pen?

(a) Yes (b) No

92


30%

70%

STATUS CONSCIOUSNESS

YESNO


STATUS CONSCIOUSNESS YES NO

Business Person 26 74

Service Person 42 58

Student 15 85

FINDINGS

70 % people do not buy the pen as their status symbol

42% of service person came to status conscious while buying pen

Only 15 % students came to be status conscious

Q11- From where did you get influence about the pen you use?

(a) Advertisement (b) Colleagues (c) Friends (d) Retailers

93


43%

7%

28%

21%

Key Influencer

Advertisement

Colleagues

Friends

Retailers

Findings:

From the above pie-chart, it can be concluded that Advertisements (TV Ads, Print Ads, and Internet) are the most influencing Ad impacting the buying decision of different consumer segments having almost 43% of the responses. The next most influencing medium is friends followed by Retailers & Colleagues.It can be seen that even retailers influence the customer base of 21%.

Q12- Which Advertising Media Influence You the Most?

(a) TV ads (b) Banners & Hoardings (c) Newspapers & Magazines (d) Internet

94


45%

19%

27%

9%

Most Effective Advertisment

TV adsBanners & HoardingsNewspapers & MagazinesInternet

Purpose

The purpose is to know the most effective media affecting consumer buying decision. It also aims of finding the media which is most preferred and can be used as for the promotion scheme.

Findings

From the chart it can be concluded that TV Ads are the most influencing Ad impacting the buying decision of different consumer segments having almost 45% of the responses. The next most influencing media is Newspaper impacting the buying decision. Internet is the least influencing among all media.

Q13- What is the price range in which you generally used to buy a pen?

(a) Below Rs 10 (b) Between Rs 10-Rs 20 (c) More than Rs 20 (d) Price is not an issue

95


21%

55%

6%

18%

Price Range

Below Rs 10

Rs 10 - 20

More than Rs 20

Price No Issue


PRICE RANGE Rs. 5 - 10 Rs. 10 – 20 > Rs. 20 Price no issue



Student 42 38 8 12

Findings: It can be analyzed from the above graph that out of the total responses, consumer

mostly favors and prefer their pen in the price range of Rs 10 – 20. The next most proffered price

range is Rs 5 -10. The high price range ranging from more than Rs 20 & above that is least prefer

by the consumers.

Interpretation: Business Person are ready to Pay up to Rs 6 -10 for their prefer type and brand

of pen, whereas service person do use pen in the same range but in students category they are not

willing to spend more and are using Pen mainly in the Price range of Rs 5 – 10.

Some of the service person did not have any price issues over buying of pen.

Q14- Do you refill your pen regularly?

(a) Yes (b) No

If No, Why?

96


23%

77%

Refill

Yes

No

Reason for being No:

Pen Cost is Negligible than Refill

Replacement Results in Poor Performance

Refill is unavailable

Findings

From the above table, it has been analyzed that majority of the respondents (i.e.) 77% out of 100 do not refill their pens. The reasons for not refilling is that the Pen Cost is negligible as compared to a new refill so consumers prefer to buy a new pen rather than refill, and even the refill of second time does not give the original performance in writing, thus this two reason accounts for more than 60 consumers not refilling their pen. Sometimes, the refill is not available also.But some say that it’s better to go for New Pen rather than refill, some are using the Rs2 unbranded Pen which are use and throw.

Q15- Which Type of Schemes affect your buying Decision?

(a) Extra Refill (b) discount on bulk Purchase (c) Free Pen (d) Others……………

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17%

44%

28%

11%

SCHEMES

Extra RefillDiscount on bulkFree PenOthers

Purpose

The purpose of this question is to know whether the scheme provided by the retailer or the companies motivate the consumer to buy more or not. If no, then which are the other schemes that influence the consumer to buy it which can help the company to select the right promotion mix for selling the product?

Findings

It can be visualized from the above chart that different promotional activities undertaken by the companies are definitely impacting the buying decision of consumers. But among the promotional schemes, the most influencing promotional schemes that affects the decision is Discount on Purchase of Pens (In Bulk more than 1 or 2).

The next most influencing scheme is of free Pen given by the companies on purchase of 1 pen (1 per 1 free) impacts the decision.

For some 10% of the responses, they believe that no scheme impacts their buying decision as pen is low price product where consumer involvement is less.

RETAILER SPEAKS

Students are the most frequent buyers (60%) of pen, followed by service men (25%).

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Between the range of Rs.5 – Rs.20, Cello accounts for 45% of the sales followed by Linc &

Reynolds.

Cello provides the best schemes according to the retailers, followed by Linc as compared to

others. The scheme varies from free refill to free pen or free gift with bulk buying.

According to retailer, the important buying characteristics of customers are as follows as per

the decreasing order:

Price (29%)

Quality(27%)

Looks(19%)

Scheme(14%)

Refillable(11%)

68% retailers believe that sales are constant and stable throughout, 19% feels that sales are

more during exams, 13% feels sales are more when schemes are available

Cello tops the list with a consistent 30% profit margin for all its products; Linc being

second, provides a profit margin which varies from 25% to 35% depending upon the price;

Reynolds being third, provides a profit margin between 25% to 30%

80% retailers feels that brand endorsement through celebrities does not boost the sales of

pen.

CUSTOMER SPEAKS

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Cello Brand enjoys market leadership position and it is also prefer by the majority of the

consumer for writing among different brands OF Pen available in the market.

In different types of Pen, Ball pen is preferred by most of consumer’s and they have ranked

Ball-Pen as No 1 among different Types of pen

54% of the respondents said that they buy a pen once in a month

Blue Color is preferred by the consumer among different colors, whereas Red & Black are

mainly used by the Professors or Doctors or Lawyers.

RANK 1: Cello, RANK 2: Reynolds, RANK 3: Luxor, RANK 4: Linc, RANK 5: Add Pens

Point ranging 0.5 & 0.8 are more demanded and used in the market by almost 80% of the

respondents.

Motivational features in a pen are as follows: Rank 1: Quality, Rank 2: Price, Rank 3:

Refillable, Rank 4: Availability & Rank 5: Looks

The most influencing characteristic is Performance by 38%, which is followed by the Point

with 24%. Grip accounts for 15%. Long Life and Ink are least influencing features of the pen

impacting consumer buying decision

70 % people do not buy the pen as their status symbol

Most of the consumers Buying Decision is not only influenced by any specific single

characteristics but it is influenced by either the combination of more than one. Thus majority

buying decision is influenced by Performance of Pen in Total. Of course in different

consumer segments there are different characteristics impacting buying Decision.

Occupation Wise Classification

o For Business Person: The most influencing characteristic impacting buying decision

is Price.

o For Service Person: Price & Performance have impact influence on buying decision.

It signifies that Service Person purchase pen not only considering price but along with

it some different features such as Grip, LongLife, etc are also impacting the Decision.

But still, Price & Performance are dominating features for this Consumer Segments.

o For Students: - In this consumer segment, it cannot be predicted or analyzed that any

one characteristic is impacting their decision. But student wants everything in the

Pen: Affordable Price, Proper Grip, Long Life and even the performance of the pen.

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Thus student buying decision regarding pen is influenced equally by almost all

variables

In the Pen Market, the consumers are not loyal to a particular Brand. Majority of them do

not stick or purchase the same brand. Repeat Purchase is very less. The major reason for this

is Pen is Low Involvement Product, as well as low price but in huge product varieties and

price range. Consumers do not purchase the same brand mainly due to Influx of Newer and

Newer Products in the Market by different players and in different Price range ultimately

changing the consumer buying Decision

In the Present market condition where Pen is available even in the Price Range of Rs 1 – 3,

consumers do not go for refilling the Pen. They do not refill pen as they believe that new pen

cost is negligible as compared to purchasing a refill. E.g. Todays Wonder Gel & Linc Ocean

Gel is Rs 5 and refill of the same is of Rs 4. Even the refilling does not give the same writing

performance as of the original refill. So consumer refrains from refilling the Pen.

Tv Advertisement is having a significant impact on majority of the Consumer. Influence of

different Advertising Media is not differing by Profession. Thus almost all media is having

the impact on buying decision of different consumer Segments.

The most influencing promotional schemes that affects the decision is Discount on Purchase

of Pens (In Bulk more than 1 or 2). The next most influencing scheme is of free Pen given by

the companies on purchase of 1 pen (1 per 1 free) impacts the decision.

It can be analyzed that out of the total responses, consumer mostly favors and prefer their pen

in the price range of Rs 10 – 20. The next most proffered price range is Rs 5 -10. The high

price range ranging from more than Rs 20 & above that is least prefer by the consumers.

Recommendations

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Cello Company is regarded as No 1 market leader due to its product varieties mainly in

the Price range ranging from Rs 5 – 20. This is Low Price Segment where majority of

consumers prefer to buy their pen. And in the Point Size of 0.5 & 0.8, Cello has huge

product range. At the same price range, others have very less products which can satisfy

consumer need. So hereby I suggest that Companies should come up with the product in

Effective Price range Of Rs 5 – 20, with Point Size of 0.5 & 0.8, targeted to different

consumer segments.

Companies are spending huge sum of money on Advertisement, with Logo (Every Pen

Speaks) but like other Companies it is not targeting specific segments. From the survey, it

is clear that different variable/features influence buying decision of consumer in different

segments. Thus Companies should not have a common Positioning for all Target

Markets. The companies should try to focus on a target group by focusing on various

characteristics that affect their buying decision. For

E.g.: Business Personà Producing the Pen in the Price range of Rs 11 -20, that gives

good writing performance and on the basis of that positioning the product in the same

way emphasizing the two variables for Specifically Business Person. Other variables does

not impact their decision as the above mentioned

Eg: Service Person :- PRICE RANGE— Rs 11 -20

Characteristics to Emphasize – Complete Performance

For Student:- PRICE RANGE— Rs 1 -10

Characteristics to Emphasize – Price

Most of the retailers were unsatisfied with the pending schemes that has been providing

to them. They suggested that no schemes should be left pending.

Another aspect which they highlighted was that some companies did not work at all

towards the promotion. Neither did they provided banners or stands for that matter for

display on the shops due to which the attention and focus of the customers could not be

tapped. Most of them suggested that there should be introduction of new product lines

under this range with sufficient availability at the same time so that Luxor can get into the

rat race under the given price category.

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In this world of Competition, there is competition not only from organized players but

unorganized players also. I hereby suggest that firms with its own R & D facilities can

outperform this unorganized players by producing the Pen In the price range of Rs 1 -3

(i.e.) Use & Throw which are favorite among students now a Days. There is huge

Opportunity for the Company to have such type of pens and even take First Move

Advantage in this type of pen as still no organized player is producing Pen in Price Rs 1 –

3. Nataraj Glow is one of the organized player who has started the trend with use & throw

pen starting from Rs. 3

I also suggest the companies to increase the Product Varieties substantially in Ball Pen

Segment as it has about 65% of the total Market.

Thus if the Companies use all of the above mentioned features for specific target market and makes the product, fixes the Price and position it properly and effectively, then it can definitely outperform its competitors in different segments.

103


LIMITATIONS OF THE STUDY

This study is to done by interviewing limited number of customers & retailers; therefore

it may not reflect the authentic information

The sample size is 50 customers & 50 retailers, thus it may not give true results

The information collected is restricted to the consumer of Kolkata & Navi Mumbai

region only, so we cannot generalize to other regions

Time duration was limited to few weeks. So a proper justification cannot be made

towards the project

Some of the respondents were non co-operative, as they were busy with their work.

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FUTURE SCOPE OF THE STUDY

The present study is on customer satisfaction towards pen provided by the various

brands; set of whole could extend the study.

The present study covers all product perception & buying behavior of the customers. If

the study is extended to all Company Marketing Managers to Design an Effective Marketing Mix

for it target Customers, it would be very useful. It would be better to know the behaviors and

expectations of all the customers.

Indian businessmen involved in the business of stationary items needs to work on proper

research and development of the sector. Design, Colors, Quality, Themes, Reaching the right

partners and to find out new markets for their products should be on their agenda. There is a need

to focus on providing assistance to businessmen for buying good machinery, necessary

infrastructure should be provided, to enhance export activities, workshops, conferences and

training programs should be conducted at state and national level. Logistics is also a key concern

that goods should reach on time which helps in maintaining a relationship with various

customers across the globe.

Further study can help to sought

To suggest a least cost distributive system without imparting the efficiency

of distribution

To recommend a fair margin to the trade after examining the present margin

and operation expense

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EXCLUSIVE BUSINESS OUTLET FOR PEN INDUSTRY

Exclusive distribution is when you only have one outlet/store in a given area for your product. The store can enjoy a higher margin and little competition and so may perhaps prominently place the product to encourage sales. This may help the product seem more desirable, make more money per sale, and minimize channel conflicts, but may reduce total profits.

Fast-moving consumer goods (FMCGs) are usually not distributed this way but it is reasonable to consider when manufacturing or distribution is constrained or to make the product seem more special in its early stages.

The advantage of having exclusive distribution with fmcg product is that we will have focus on our products. The disadvantage is that it will cost us more and may end up as a fixed cost which we cannot manage if the turnover goes down.

The exclusive or mono-brand retail concept is a vendor-centric model. Here, a retailer has deep commitments in terms of investments, sales targets and marketing. The benefits that a retailer can derive from exclusive retail are territory protection, better margins, manpower subsidy, demo subsidy, backend rebates, brand marketing rights, lead generation support and marketing support from the vendor.

In an exclusive store, uniformity in terms of store design, store interiors, store size, products, prices, promotions and events are strictly maintained. This method prevents competition, and gives all the retailers a fair chance to earn profits. Vendors also work more closely with exclusive retailers to conduct events and promotional schemes, and provide, along with the retailers, region- or city-specific advertisements.

More Attention

One benefit of exclusivity is that the manufacturer's or distributor's products receive much more attention. The retailer may highlight the exclusive product in their store newspapers or ads. Some retailers may even include coupons on the exclusive items, distributing them in coupon magazines or other print media. The manufacturer may also be permitted to set up store demos or videos in stores, showing customers how to use the new products.

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Greater Shelf Space

Manufacturers and distributors with exclusivity enjoy greater amounts of shelf space in stores. Most retail stores allocate a certain amount of space for product categories and competing brands. Manufacturers or distributors with retail exclusivity get to use 100 percent of the allotted space for their products. Some may even get the use of store end caps, which are located at both ends of the long shelving units or gondolas. Greater amounts of shelf space can mean fewer out-of-stock situations. Consumers may also feel the brand is special because it dominates a certain store aisle.

Greater Sales and Profits

Retail exclusivity or mono-branding, as it is sometimes called, can lead to greater sales. Retailers may devote all their in-store marketing efforts to that one brand. Their sales reps may also be well-versed on all the product features and benefits of the brand. Hence, the reps only have one product or brand to push in that particular product category. A product manufacturer or distributor may also enjoy higher profits from the greater sales volume.

Minimized Competitive Influence

Manufacturers and distributors can minimize their competitors' influence with multiple retail exclusivity arrangements. Competitors are forced to make do with available retail outlets. This minimizes competitors' distribution options, which can hamper their sales and profits. Consumers are inconvenienced because they may have trouble finding a competitive brand. Hence, they may be forced to purchase the available brand. A competitor has no influence or impact in stores where a manufacturer or distributor enjoys retail exclusivity.

Disadvantages

Unlike multi-brand outlets, exclusive retailers get very little footfall and lose out on every other customer. Over 80 percent of consumers today prefer to go to a store where they can see and test all the different brands and then make a decision. If a retailer has a multi-brand outlet he can keep the customer in the store by showing him different varieties of products. But if a retailer has an exclusive outlet and the customer wants to see and test the competitor’s products he can’t retain the customer.

Two other disadvantages are the risk of losses if the vendor’s market share falls, and the lack of freedom to make your own decisions.

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STORE CONCEPT

Suggested Surface: 400 sq. ft.

Designed by the best architect department

Located at the top places of the objective city

To attract people to make them aware about the new products of the company

Every store has to keep the same style worldwide

RECOMMENDATIONS

Rent should not exceed more than 70% of the monthly average sales.

It is recommended to negotiate a monthly fixed rent representing a minimum sales

volume, and a variable over that amount.

Company can give advice, if the licensee is interested, in the lease negotiation.

Sales volume is directly affected by the location and exposition of the space to be rented.

To promote the brand idea, a single branded outlet can be a better option because with

this, the idea can be communicated effectively. The ambience is designed carefully to flourish

the brand image and give a holistic experience to the customer. The furniture, music, lighting,

and colors are chosen which helps to create the brand image. Since there is a considerable

control over the ambience of the single branded outlet, the target group can be attracted

effectively by providing an experience which is in line with the brand idea.

The objective of the single branded outlets is spotting the next trend, test-market

combinations that a retailer might otherwise hide at the bottom of the rack, pick-up consumer

feedback, and even making customers co-creators. These outlets are the ultimate in being

customer-centric. Beyond being points of interaction, they enable the companies to pick ideas,

track trends, test products and even reverse-engineer products based on feedback.

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EXCLUSIVE BUSINESS OUTLET PLAN OF PEN COMPANY X

Break Even Analysis will be there if there are some fixed costs.

Suppose, if we purchase the shop of 400 sq.ft. in Inorbit mall, Vashi, then it would cost around

40-45 Lakhs as per prevailing market rates.

So it’s better if we take it on rental basis. And if we take shop on rental basis, then per month

rental is assumed to be Rs.1, 00,000.

Manufacturing expenses for the financial year 2012-13(Company point of view)

Total cost of manufacturing per unit = Rs. 2

Add central sales tax @ 4% = (4+2)*.04

= 0.24

Local sales tax @ 15% = (4+2)* .15

= 0.9

TOTAL manufacturing cost per unit = 3.14(2+0.24+0.9)

No. of units = 2400

Total manufacturing cost = Rs. 7536

Sale of Pens (Initially: First Year)

Type1 Type 2 Type 3 Total

Units

SP per unit 10 15 20

No. of units 1,000 800 600 2,400

Total sales

10,000 12,000 12,000 36,000

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BREAK EVEN ANALYSIS

Supposing Distribution Cost as Rs.4

I) Rs. 10 pen

if shop is taken on rental basis at Rs. 1, 00,000

Fixed cost= Rs. 1, 00,000

Sales per unit = Rs. 10 per pen

Variable cost per unit = Rs. 7.14 (4+3.14)

Contribution per unit = Rs. 2.86

BEP = Fixed cost = 1,00,000 = 34,965 units

Contribution per unit 2.86

Hence, we can conclude that we will achieve our break even with 34,965 units approximately.

II) Rs. 15 pen

Fixed cost= Rs. 1,00,000


Variable cost per unit = Rs. 9.14 (4+2+3.14) (extra Rs. 2 for better quality in Rs. 15)


BEP = Fixed cost = 1,00,000 = 17064 units


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Hence, we can conclude that we will achieve our break even with 17064 units approximately.

III) Rs. 20 pen

Fixed cost= Rs. 1,00,000


Variable cost per unit = Rs. 11.14 (4+4+3.14) (extra Rs. 4 for better quality in Rs. 20)


BEP = Fixed cost = 1,00,000 = 11286 units


Hence, we can conclude that we will achieve our break even with 11286 units approximately.

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Cash account

Receipt

Amount(Rs.

) Paryment

Amount(Rs.

)

To capital a/c 10,00,000 by salaries a/c 20,000

To Sales a/c 36,000 by advertising expenses a/c 15,000

by insurance premium a/c 10,000

by rent a/c 1,00,000

by administrative expenses a/c 2,000

by miscellaneous expenses a/c 1,000

by shop interior a/c 100,000

by Electricity expenses a/c 15,000

by balance c/d 7,73,000

Total 10,36,000 Total 10,36,000

Assumptions:

Shopkeeper’s salary is assumed at Rs. 10,000 p.m. and there are 2 persons in the shop. So

at the end of year the salaries a/c has been debited with Rs. 2,40,000

Insurance premium paid Rs. 10,000

Total sales are Rs. 10, 36,000 as per schedule A.

Balanced remained in the cash book is at the end of year is Rs. 7,73,000

Profit can be calculated after deducting govt. taxes, assumed it is 30% so tax will be

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TAX CALCULATION:

Rs. 7,73,000* 30%= 2, 31,900

Final profit= Rs. 7, 73,000 - Rs. 2, 31,900

= Rs. 5, 41,100

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CAPITAL BUDGETING

Calculation of NPV

Year Cash inflows Discounting factor Present value of cash inflow

2012-13 5,41,100 0.909 491860

2013-14 6,00,000 0.826 495600

2014-15 8,00,000 0.751 6,00,800

Total 15,88,260

initial investment (10,00,000)

Net present value 5,88,260

Assumption: discounting rate has been taken as 10%

It is giving positive NPV, which means project is feasible.

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Present Scenario

Reynolds & Linc have started their EBO and are successful in making people aware of their

products. Their main concern is to make the people feel that the brand is prestigious to them.

People can understand the uniqueness of the products better as the retailer is more interested in

explaining his own brand.

RENOLDS: WRITESITE

LINC: JUST LINC & OFFICE LINC

REYNOLDS EXCLUSIVE RETAIL OUTLET: WRITESITE

• Franchisee owned retail outlet

• First of its kind in the industry

• Presently 38 outlets in 16 cities : Ahmedabad, Allahabad, Chennai, Delhi, Ernakulam,

Gurgaon, Hyderabad, Indore, Jaipur, Kanpur, Lucknow, Mumbai, Noida, Raipur,

Varanasi & Kolkata

• Targets to set up 35-40 sites in malls

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WriteSite, a novel concept in retailing, is an exclusive showroom for writing instruments.

It showcases a range of global products from Sanford and Reynolds, in a smart yet easy

ambience. Consumers can get to touch, feel and choose from a wide range of products in a

relaxed and trendy atmosphere. They have products for all ages, ranging from five rupees to five

thousand rupees.

LINC EXCLUSIVE STORES

20 retail outlets called Office Linc & ‘Just Linc’ .

‘Office Linc' has roped in channel partners like Airtel, DHL, Blue Dart, Microsoft, Music

World, Book Cellar, Anderson Printing, Presto, Aqua Java, SKP Moneywise and Talk,

who will stock their products and provide after-sales services as well.

As on today, total 18 stores of both formats are already operational and the company

intends to have pan India presence in future.

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THE WAY AHEAD

The production of pens in India has been steadily growing since the beginning of the twentieth

century. It is still expected to register a sharper rise in the next decade. The Industry is widely

dispersed comprising of large size units and small sized units. The pen industry is basically a

labor intensive having vast employment potential. Due to this there is a greater need for a well

knit distribution system to help the industry to grow and meet the needs of millions and millions

of Indians who are striving to achieve a higher standard of living.

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REFERENCES

1. http://www.acnielsen.co.in/site/index.shtml 2. http://www.outlookindia.com/ 3. http://economictimes.indiatimes.com/ 4. http://www.dessenceconsulting.com/ 5. http://marketing.wtwhmedia.com/ 6. http://www.gmarketing.com/ 7. http://www.dnaindia.com/ 8. www.skpmoneywise.com 9. www.wikipedia.com 10.http://www.economywatch.com/world-industries/stationery-

industry.html11.http://www.giftsnaccessories.com/gifts-stationery/539.htm 12.http://www.indianretailer.com/magazine/ 13.http://stationery.indiabizclub.com/ 14.http://marketingjournal.blogspot.in/ 15.http://lincpen.com/ 16.http://cellopens.com/ 17.http://www.reynolds-india.com/reynolds/ 18.http://www.luxorpen.com/ 19.http://pssmagazine.com/?p=1369

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http://pssmagazine.com/?p=1369

http://www.luxorpen.com/

http://www.reynolds-india.com/reynolds/

http://cellopens.com/

http://lincpen.com/

http://marketingjournal.blogspot.in/

http://stationery.indiabizclub.com/

http://www.indianretailer.com/magazine/

http://www.giftsnaccessories.com/gifts-stationery/539.htm

http://www.economywatch.com/world-industries/stationery-industry.html

http://www.economywatch.com/world-industries/stationery-industry.html

http://www.wikipedia.com/

http://www.skpmoneywise.com/

http://www.dnaindia.com/

http://www.gmarketing.com/

http://marketing.wtwhmedia.com/

http://www.dessenceconsulting.com/

http://economictimes.indiatimes.com/

http://www.outlookindia.com/

http://www.acnielsen.co.in/site/index.shtml


ANNEXURES

Questionnaire for Retailers

Name: ……………………………………. Today's date: …………………………

Address:

………………………………………………………………………………………………………

……………………………………………………………………………………………

…………………………………………………………………………………………

City: …………………………………… State: ……………………………………..

Zip:

Telephone: ……………………………… Mobile: ……………………………..

Date of birth: ……………………………… Sex: _ Male _ Female

Q1-Who are the frequent buyers of pens in the price range between Rs5-Rs.20?

(Opt for 1 or more than 1)

(a) Students (b) Servicemen (c) Businessmen (d) Other Professionals

Q2-Maximun sales under the price range between Rs5-Rs.20 are for which brand of pens?

(Rank in order of sales)

(a) Luxor (b) Reynolds (c) Cello (d) Linc (e) Others (please specify)………

Q3-Maximum schemes are being offered by which brand of pens?

a) Cello b) Luxor c) Classmate d) Linc e) Reynolds

Q4-When people buy pens what among the following options do they prefer? (Rank as per

the priority)

(a) Price (b) Quality (c) Refillable (d) Schemes (e) Looks of the pen

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Q5-Sales of pens between the ranges of Rs5-Rs.20 is high during which period of time?

(a) High during exams (b) Stable throughout the year

(c) When new schemes are introduced.

Q6-Your best business deal is with which company of pens?

(a) Reynolds (b) Cello (c) Luxor (d) Linc (e) Others……………..

Q7- Do you think that Brand endorsement by celebrities is really helpful in boosting sales

of pens?

(a)Yes (b) No

Q8-Your valuable suggestion for Luxor to capture market share in lower

price range?

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

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THANK YOU

Questionnaire for Customers

Name:……………………………………. Today's date: ……………………...

Address……………………………………………………………………......................................

...........................................................................................................................................................

City:……………………………… State: ………………………………

Zip:

Telephone:……………………………... Mobile: ……………………………

Date of birth: ……………………………… Sex: ______Male _____Female

Occupation (Tick) : Student / Businessman/ Service

Please circle the preferred option:

Q1- How frequently you purchase a pen?

(a)Once a week (b) Once in 15 days (c) Once in a month (d) Borrow

Q2- Which pen strikes first in your mind when the range is between Rs.5 - Rs.20 (check

only one):

(a)Luxor (b) Reynolds (c) Cello (d) Linc (e) Any other……………….

Q3- Rank the brands of pens according to your preference from 1-5?

Cello, Reynolds, Luxor, Linc, Add Pens

Q4- Which type of pen do you currently use?

(a) Ball Pen (b) Gel Pen (c) Ink Pen (d) Roller ball Pen

Q5- Which Colour of Pen do you normally use? (Check only one)

(a) Blue (b) Red (c) Black (d) Multiple colors

Q6- Which Ball Pen Point do you normally use?

(a) 0.5 (b) 0.45 (c) 0.6 (d) 0.8

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Q7- What motivates you to buy a pen?

(a) Price (b) Quality (c) Refillable (d) Availability (e) Looks of the pen

Q8- Which Characteristics of Pen Influences your Buying Decision?

(a) Point (b) Grip (c) Long Life (d) Ink (e) Performance

Q9- Do you use separate pens for signing and writing purpose?

(a) Yes (b) No

If Yes then which pen do you use for signing purpose and for writing purpose?

For signing purpose …………………………………

For writing purpose ………………………………….

Q10- Are you conscious of status while purchasing a pen?

(a) Yes (b) No

Q11- From where did you get influenced about the pen you use?

(a) Advertisement (b) Colleagues (c) Friends (d) Retailers

Q12- Which Advertising Media Influence You the Most?

(a) TV ads (b) Banners & Hoardings (c) Newspapers & Magazines (d) Internet

Q13- What is the price range in which you generally used to buy a pen?

(a) Below Rs 10 (b) Between Rs 10-Rs 20 (c) More than Rs 20 (d) Price is not an issue

Q14- Do you refill your pen regularly?

(a) Yes (b) No

If No, Why?

Q15- Which Type of Schemes affect your buying Decision?

(a) Extra Refill (b) discount on bulk Purchase (c) Free Pen (d) Others……………

THANK YOU

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indian pen industry project

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