internship project - do not delete

8/7/2019 Internship Project - Do Not Delete

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INTRODUCTION

Marketing:

Marketing is so basic that it cannot be considered as a separate function. It is

whole business seen from the point of view of its final results i.e., from the

customers point of view. Business is not determined by the producer or by the

customer.

-----Peter F. Drucker

Marketing is a social and managerial process by which individuals and groups

obtain what they need and want through creating, offering and exchanging

products of value with others

-----Philip Kotler

Marketing is an ongoing process of discovering and translating consumer needs

and design into products and services, servicing the customer demands with the

help of marketing channels.

-----Paul Mazer

American Marketing Association defined marketing as The process ofplanning and executing the conception , pricing , promotion and distribution of

ideas , goods and services to create exchange that satisfy individual and

organizational objectives.

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MARKETING & CORE CONCEPTS

Marketing is a social & managerial process whereby individual & groups

obtain what they need & want through creating & exchanging products & value

with others. The core concepts of marketing are needs, wants, & demands;

marketing offers (products, services, & experiences); value & satisfaction;

exchange, transactions, & relationships; & market.Wants are the form assumed

by the human needs when shaped by culture & individual personality. When

backed by power, wants become demands.

Companies address needs by putting forth a value proposition, a set of

benefits that they promise to consumers to satisfy their needs. The value

proposition is fulfilled through a marketing offer-some combination of products,

services, information, or experiences offered to market to satisfy a need or want.

MARKETING MANAGEMENT:

Marketing Management involves getting, keeping, & growing customers

through creating, delivering, & communicating superior customer value.

Marketing management involves more than simply finding enough

customers for the company current output. Marketing is at times also concerned

with changing or even reducing demand simply put, marketing management is

customer management & demand management.

MARKETING ORIENTATIONS:

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Marketing management can adopt one of five competing market

orientations.

The production concept holds that consumers favor products that are

available & highly affordable; managements task is to improve production

efficiency & bring down prices.

The product concept holds that consumers favor products that offer the

most in quality, performance, & innovative features; thus, little promotional effort

is required.

The selling concept holds that consumers will not buy enough of the

organization product unless it undertakes a large scale selling & promotion effort.

The marketing concept holds that achieving organizational goals depends

on determining the needs & wants of too much target markets & delivering the

desired satisfactions more effectively & efficiently than competitors do.

The societal marketing concept holds that generating customer satisfaction

& long-run societal well being are the keys to both achieving the companys goals

& fulfilling its responsibilities.

Dealer satisfaction:

Cement is a product which is sold in bulk quantities .It is not sold to the

ultimate consumers directly but it is sold to the intermediaries called the Dealers

who purchase cement in bulk and large quantities from the company and sell it to

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the ultimate consumers. These dealers play an important role in the success or

failure of a company. Therefore companies need to take measures to keep them

satisfied.

Customer satisfaction:

Today, companies face their toughest competition ever. Moving from a

product and sales philosophy to a marketing philosophy, however, gives a

company a better chance of outperforming competition. And the corner stone of a

well-conceived marketing orientation is strong customer relationships. Marketers

must connect with customers-informing, engaging, and may be even energizing

them in the process .John Chambers, CEO of Cisco Systems, put it well: Make

your customer the center of your culture. Customer-centered companies are adept

at building customer relationships, not just products; they are skilled in market

engineering, not just product engineering.

Walk into most of the banks and you will notice that human contact is kept

minimum. Many companies are aiming for high satisfaction because customers,

who are just satisfied still, find it easy to switch when a better offer comes along.

Those who are highly satisfied are much less ready to switch. High satisfaction or

delight creates an emotional bond with the brand, not just a rational preference.

The result is high customer loyalty.

Satisfaction:

It is a persons feelings of pleasure / disappointment -resulting from

comparing a products perceived performance (or customer) in relation to his/her

Expectations.

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COMPETITORS promises etc.,

If the performance of the company does not match the expectations then the

Customer is dissatisfied.

And if performance of the company matches the expectations then the Customer is

satisfied.

And if performance of the company exceeds the expectations then the

Customer is highly satisfied and delighted. And will be much less ready to switch

over to other Brands and shows high customer loyalty.

Outstanding marketing companies go out of their way to keep customers

satisfied. A satisfied customer makes repeat purchases and tells others about their

good experiences with the product . The key is to match customer expectations

with company performance. Smart companies aim to delight customers by

promising only what they can deliver, then delivering more than they promise .

Marketers must be careful to set the right level of expectations. However

although the customer centered firm seeks to deliver high customer satisfaction

relative to competitors, it does not attempt to maximize customer satisfaction.

Customer value and customer satisfaction are key building blocks for developing

and managing customer relationships.

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Satisfaction is the customers fulfillment response . it is the judgment that a

product or service feature, or the product or service itself , provides a pleasurable

level of consumption related fulfillment.

Satisfaction is the customers evaluation of a product or service in terms of

whether the product or service has met their needs & expectations . Failure to meet

the needs and expectations is assumed to result in dissatisfaction with the product

or service .

Satisfaction is viewed as:

a) CONTENMENT: Where the customer does not think of more about the

Service as he is satisfied with the present state of affairs.

b) PLEASURE : Customer feels good or associated with a sense of belonging.

c) DELIGHTED : Customers are surprised positively.

d) RELIEF : Removal of negative aspects of satisfaction.

Satisfaction is a dynamic, moving target that may evolve over time and is

influenced by variety of factors. Customer Satisfaction is influenced by several

factors.

CUSTOMER SERVICE :

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It is consisting of supporting action for the core products.

It is designed to build customer relationships.

It is the service rendered at free of cost.

Examples:- a retail employee helping customer to find an item, taking orders,

Handling complaints, Dealing with Billing Answering Questions, Free service of

automobiles &2 wheelers.

Factors influencing the customer satisfactionA companys sales activity should result in customer satisfaction in most of the

items. It is because a company sale basically generate from two groups: one being

new customers, another is the loyal customer group. For any firm, it usually costs

more to attract new customers than to sell to loyal customers is to keep them

satisfied. Loyal customers buy the product again or buy other products of the same

company with higher probability and they talk favorable about the product/ brand

to other, pay less attention to competing brands and advertising. A loyal customer

is an asset to the company as they generate sales to the company with repeat

purchase or with good word of mouth to the utmost extent.

With the help of good after sales service programme, the company can establish

a cordial relationship with its customers. For this it should opt for a value delivery

system consisting of effective delivery and installation, courteous attention

towards customer complaints, promptness in providing customer service etc., it

can communicate with its customers by sending mails or giving calls in an effort to

know the products performance and customer satisfaction levels. These signals to

the customers of the company, the companys commitment to customer care.

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Customer Satisfaction is influenced by specific product or service and by

perceptions of quality. Satisfaction is also influenced by Customers Emotional

Responses, their attributions, and their perceptions of quality.

Product & Service Features.

Consumer Emotions.

Attributes for Service success or failure.

Perceptions.

Other Consumers, Family members &Co workers.

PRODUCT& SERVICE FEATURES:-

The failure of the service significally affect the satisfaction of the customer

eg: Hotel privacy, helpfulness and courtesy of staff, room price, pool area etc.,

customer may even make trade offs among different service features e.g., price

level V/s Quality V/s Friendliness of personnel vie level of customization.

CONSUMER EMOTIONS:

When the customer is in a very happy stage in his life (Vacation) and this

happy mood and positive frame of mind will influence the service he is

experiencing. Contrary to this when the customer is in a bad mood, the negative

feeling arising out of the bad mood will be carried over to experience of services

and cause the customer to over-react. Thus emotions effect the Satisfaction of any

Customer.

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Besides the above factors, product quality, Service quality with respect to physical

environment, interaction and outcome and price also affect Customer Satisfaction.

SERVICE QUALITY DIMENSONS:

Research suggest that customers try to perceive quality based on multiple

factor other than 3 Ps :

Para Suraman, Zeithman and Berse in their research have identified five

dimensions of service quality which are applicable for a variety of Services. The

five dimensions are as follows :

1) Reliability

2) Responsiveness

3) Assurance

4) Empathy

5) Tangibles.

CUSTOMER SATISFACTION PYRAMID

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DELIGHTNESS

SATISFACTION

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Higher Loyalty

Loyalty

The above pyramid implies that, the firm not can reduce dissatisfaction

among customers But can also pushup some of the dissatisfied customers onto

satisfaction level satisfaction level by fulfilling their requirements with its

effective after sales service. Here the arrow indicated after sales Service.

Measuring Satisfaction:

Many companies are systematically measuring customer satisfaction and the

factors shaping it. For example, IBM tracks how

Satisfied customers are with each IBM sales person they encounter and make this

as a factor in each salespersons compensation.

A company would be wise to measure customer satisfaction regularly because

one key to customer retention is customer satisfaction. A Highly satisfied customer

generally stays loyal longer, buys more products as the company introduces new

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questions to measure repurchase and intention and the likelihood or willingness to

recommended the company and brand to others. Paramount attributed the success

of its five theme parks to the thousands of web-based guest surveys it sends to

customers who have agreed to be contacted. During the past year, the company

conducted more than 55 web-based surveys and netted 100,000 individual

responses that described guest satisfaction on topics including rides, dining,

shopping, games, and shows.

Companies can monitor the customer loss and contact customers who have

stopped buying or switched to another supplier to learn why this happened

.Finally, companies can hire mystery shoppers to pose as potential buyers and

report on strong and weak points experienced in buying the companys and

competitors products. Managers can themselves enter company and competitor

sales situation where they are unknown and experienced first hand the treatment

they receive or phone their own company with questions and complaints to see

how the calls are handled.

For customer satisfaction surveys, its important that companies

ask the right questions. Frederic Reichheld suggests that perhaps only one question

really matters: would you recommend this product or service to your friend? he

maintains that marketing departments typically focus surveys on the areas they can

control, such as brand image, product features and, pricing. According to

Reichheld, a customers willingness to recommend to a friend results from how

well the customer is treated by the front-line employees which in turn is

determined by all the functional areas that contribute to a customers experience.

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In addition to tracking customer value expectations and satisfaction,

companies need to monitor their competitors performance in these areas. One

company was pleased to find that 80 percent of its customers said they were

satisfied. Then the CEO found that its leading competitor had a 90 percent

customer satisfaction score. He was further dismayed when he learned that this

competitor was aiming for a 95 percent satisfaction score.

For customer-centered companies, customer satisfaction is both a goal and a

marketing tool. Companies need to be especially concerned today with their

customer satisfaction level because the internet provides a tool for consumers to

spread bad word of mouth-to the rest of the world. On web sites like

troublebenz.com and lemonmb.com, angry Mercedes-Benz owners have been

airing their complaints on every thing from faulty key fobs and leaky sunroofs to

balky electronics that leave drivers and their passengers stranded.

Companies that do achieve high customer satisfaction ratings make sure

their target market know it. When J.D power began to rate national home mortgage

leaders. Countrywide was quick to advertise its number one ranking in customer

satisfaction. Dell computers meteoric growth in computer systems industry can

be partly attributed to achieving and advertising its number-one rank in customer

satisfaction.

The University of Michigans Claes Fornell has developed the American

Customer Satisfaction Index (ACSI) to measure the perceived satisfaction

consumers feel with different firms, industries, economic sectors, and national

economies. Examples of the that led their respective industries with high ASCI

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scores in 2003 are Dell(78) , Cadillac(87), FedEx(82), Google(82), Heinz(88) ,

Kenmore(84), Southwest Airlines(75), and Yahoo!(78).

Customer Satisfaction Measurement (CSM) Program:

Defining the objectives

Any road will do if you dont know where you want to go..

Identify customers priorities.

Learn customers tolerance band

Receive first-hand input on your companys performance

Obtain performance rating relative to your customer priorities

Learn performance rating relative to your competitive performance

Establish priorities for improvement

Develop the Research Design

Research design is a fundamental part of the CSM process.

Research design flows directly from the stated objectives

Must be developed to ensure reliability

Ability to provide consistent results.

Measures the original intent

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Eliminates bias

Meaningful questions to the customers

Questionnaire design

Accurate identification of attributes that are important to the customer

Is the foundation upon which all subsequent portion of CSM program

Must be built.

Product attributes

Service attributes

Organizational attributes

Future behavior attributes

Pretest the CSM Program

Pretests are essential. Do not minimize! They validate:

Questionnaire

Sampling

Data analysis

Benefits of satisfaction Surveys

Improve customer, client, employee loyalty

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React quickly to changes in the market

Identify and capitalize on opportunities

Beat the competition

Retain or gain market share

Increase revenue

Reduce cost

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Cultivating Customer Relationships

Maximizing customer value means cultivating long-term customer

relationships. In the past, producers customized their offerings to each customer.

The tailor fitted a suit and the cobbler made shoes for each individual. The

Industrial Revolution ushered in a era of mass production.

To maximize economies of scale, companies made standard goods in

advance of orders and left it to individuals to fit into whatever was possible.

Producers moved from built-to-order marketing to built-to-stock marketing.

Companies are now moving away from wasteful mass marketing to more precision

marketing designed to build strong customer relationships. Todays economy is

supported by information businesses. Information has the advantage of being easy

to differentiate, customize, personalize, and dispatch over network at incredible

speed.

As companies have grown proficient at gathering information about

individual customers and business partners (suppliers, distributors, retailers), and

as their factories are designed more flexibly, they have increased their ability to

individualize offerings, messages, and media. Mass customization is the ability of

a company to meet each customers requirement - to prepare on a mass basis

individually designed products, services, programs, and communications. While

Levis and Lands End were among the first clothing manufacturers to

introduce custom jeans, now there are a no of players in the mass-customization

market.

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Nike lets consumers customize athletic shoes for 10$ more. A shopper

with two different size feet can even get no matching pair .

At Reflect.com , the web site for Procter&Gamble spin-off Reflect

True Custom Beauty , consumers answer a set of questions and then

get custom blended foundation , moisturizer , shampoo, or other

cosmetics and skin-care products.

Interactive Custom Clothes, which began making made-to-order jeans

and pants in 1996, has grown so fast that it had to stop taking orders in

2003. The company is now trying to find an apparel manufacturer or

retailer partner to help ease the load.

Customer Relationship Management(CRM) & Strategies for

building lasting customer relationships.

Narrowly defined, customer relationship management (CRM) involves loyal

customer & carefully managing customer touch points in order to maximize

customer loyalty. More broadly, however customer relationship management is

the overall process of building & maintaining profitable customer value &

satisfaction. The aim of customer relationship management is to produce high

customer equity, the total combined customer lifetime values of all of the

companies customer.

The key to building lasting relationship is the creation of superiorcustomer

value and satisfaction, and companies need to understand the determinants of

these important elements. Faced with a growing range of choices of products and

services, consumers base their buying decision on their perception of value.

Customer perceived value is the difference between total customer value and total

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customer cost. Customer will usually choose the offer that maximizes their

perceived value. Customer satisfaction results when a company performance has

fulfilled buyers expectations. Customers are dissatisfied if performance is below

expectations, satisfied if performance equals expectations, and delighted if

performance exceeds expectations.

Satisfied customer buy more, are less price sensitive, top favorably about the

company, and remain loyal longer. Companies not only strive to gain customers

but, perhaps more importantly, to level at which they want to build relationship

with different market segments and individuals customers, ranging from basic

relationship to full partnerships. Which is best depend on a customer lifetime value

relative to the cost required to attract and keep the customer. Today marketers use

a number of specific marketing tools to develop stronger bonds with customer by

adding financial & social benefits or structural ties.

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Review of Literature.

Soumava Bandyopadhyay studied the relationship of supplier-dealer

relationalism with dealer satisfaction is examined with the help of a structural

equation model in the two diverse cultures of the United States and India.

Intrachannel relationalism between suppliers and dealers is measured in six

dimensions: solidarity, mutuality, flexibility, role integrity, duration, and trust. The

same measures of the various aspects of relationalism and dealer satisfaction are

applied in the electric lamp and lighting equipment channels in the two countrieswith satisfactory reliability and validity. In both countries, relationalism as a whole

is found to have a significant positive impact on dealer satisfaction. Individually,

different dimensions have significant impacts on dealer satisfaction in the two

countries. In the United States, trust and mutuality are individually significant,

whereas in India, flexibility is the significant dimension affecting satisfaction.

Dr. Ahmed A Al-Motawa found that the relationship between foreign car-

manufacturers and their respective agents in the "emerging" market of Saudi

Arabia. The study takes the theories and findings about the relationship in

advanced country domestic situations to see if they apply to a crosscountry

situation involving manufacturers from advanced countries and agents in a

developing country. The study examines the extent of the manufacturer control

over the dealer, the sources of that control and how each of these affect the level of

conflict between the manufacturer and the dealer, and the dealer satisfaction, all

from the dealer's perspective. Based on the literature, hypotheses were formulated

and constructs developed using a questionnaire to which a relatively large sample

of the dealers responded. Appropriate statistical tests of reliability and validity

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were conducted and thereafter simple Pearson correlations were calculated to test

the hypotheses. Unlike in most advanced country studies, manufacturers were

found to practice little control over their agents, nor was control found to be

associated with the use of coercive and non-coercive measures by the

manufacturers. But other facets of the relationship were found to be generally

similar to other studies. Conflict was found to relate positively to the use of

coercive measures by the manufacturer. Dealer satisfaction was found to relate

positively to the use of non-coercive measures and negatively to the level of

conflict and the use of coercive measures. The study concludes that the stick and

carrot philosophy that may work in the West, does not work in the Middle East,

just as others have surmised.

ALEXANDER STAUS analyzed dealer satisfaction data in the agricultural

technology market in Germany. The dealers could rate their suppliers in the

"overall satisfaction" and in 38 questions which can be summarized in 8

dimensions. An ordinal regression model which is also known as the proportional

odds model is used to analyse the ordinal scaled rating of the dealers. The ordinal

regression model is a well examined method in econometric theory, but many

authors prefer using a linear regression model due to better interpretation, even the

assumptions of a linear regression do not fit the data. Since the estimated

coefficients of an ordinal regression model can not be properly interpreted we

show other methods for a better insight of the relationship of the dealer satisfactionand the influencing variables. These methods are easy to use and it is

recommended to list some of them in empirical papers.

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ROBINCHEAUX says that suppliers use a variety of strategies to gain a preferred

position within their dealers supply network. Dealers allocate purchases among

several suppliers in order to maximize benefits from their suppliers competitive

maneuvers and to avoid being dominated. Uses an extension of transaction cost

analysis and contract law to provide empirical insight into supplier-dealer

relationships within dealers supply networks. Also suggests simple but powerful

mechanisms for suppliers to enhance relationship strength.

Bandyopadhya studied the relationship between communication in the form of

influence strategies used by suppliers in marketing channels and dealer satisfaction

is examined in the two diverse cultures of the US and India. The frequencies of use

of six types of influence strategies by suppliers-information exchange,

recommendation, request, promise, threat and legal plea-are measured. The same

measurement scales for the six influence strategies and dealer satisfaction are

applied in the electric lamp and lighting equipment channels in the two countries.

In both cultures, a structural equation model relating the influence strategies with

dealer satisfaction is found to be statistically significant. However, when the

impact of individual influence strategies on dealer satisfaction is considered,

differences are found between the two countries. In the US, recommendations

affect dealer satisfaction positively whereas requests and threats affect it

negatively. In India, recommendations and legal pleas impact on dealer satisfaction

positively.

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Chi-Shiun studies of influence strategies in channel relationships have focused on

western, individualistic countries. This study seeks to extend the empirical findings

in Taiwan's motor industry to elucidate differences among diverse context. The

results reveal that the promise strategy must be separated from coercive strategies

and the request strategy must be separated from noncoercive strategies under the

context of Taiwan's motor industry. Moreover, discrimination between economic

and social satisfaction helps relationships between influence strategies and

satisfaction and the effects of satisfaction on performance to be understood. The

dealer's satisfaction is positively related to his performance, and social satisfaction

is more important than economic satisfaction.

Roger J found that suppliers use a variety of strategies to gain a preferred position

within their dealers' supply network. Dealers allocate purchases among several

suppliers in order to maximize benefits from their suppliers' competitive

maneuvers and to avoid being dominated. Uses an extension of transaction cost

analysis and contract law to provide empirical insight into supplier-dealer

relationships within dealers' supply networks. Also suggests simple but powerful

mechanisms for suppliers to enhance relationship strength

Ahmed A made an attempt to investigate the relationship between communication

and each of the channel phenomena of: manufacturer control over the dealer-agent,

manufacturer role performance, dealer satisfaction and conflict between the two in

an international setting; automobile manufacturers exporting to Saudi Arabia. The

paper first discusses the impact of the level of economic development and culture

on channel structure and operations. From a questionnaire data, constructs were

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developed, their reliability and validity ascertained. A positive association was

hypothesized between communication and each of the first three constructs and a

negative one hypothesized with conflict. Results indicated a significant positive

association between communication and the manufacturer role performance and

also with satisfaction. No association was detected between communication and

control nor with conflict.

Peter C. Verhoef says that dealers may contribute to brand retention through their

sales and service efforts. In this study we investigate the degree to which dealers

contribute to brand retention and how this contribution is moderated by brand tier.

To this end we distinguish between economy, volume and prestige brands. We also

investigate how the effectiveness of dealer instruments to increase dealer retention

differs across these brand tiers. We collected data on brand retention and dealer

retention among consumers who recently purchased a new car. Our findings show

that dealers selling volume brands are able to improve brand retention rates. In

contrast, dealers of prestige and economy brands are unable to affect brand

retention. In line with the notion of brand-dealer fit we also find that the effects of

dealer extrinsic service quality and dealer payment equity on dealer retention differ

between prestige, volume, and economy brands. Extrinsic dealer service quality

has the smallest effect for dealers selling economy brands, while dealer payment

equity is the most important determinant of dealer retention for these dealers.

Patrik Jonssonsays that Increased attention has been paid to the question of howto build stable and long-term working relationships between suppliers and dealers.

This study proposes a conceptual model including behavioral dimensions of

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supplier-dealer relationships and presents hypotheses about how to achieve

satisfactory inter-organizational relationships. Satisfaction is the consequence of

working relationships focused upon in our model. The model is an empirical

assessment of the relationship between Swedish lumber dealers and their suppliers.

T-test evidence suggests that all proposed critical variables, with the exception of

coercive power, are of significant importance for achieving a high rate of perceived

relationship satisfaction, regardless of whether the relationship is characterized by

a high or a low level of trust and commitment. A good reputation, close

relationship and positive relationship benefits are key variables for the

achievement of high satisfaction in a high-trust and commitment relationship.

Results also indicate that it is possible to achieve a high satisfaction level even

when the supplier-dealer trust and commitment are lacking

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COMPETATIVE MARKET STRATEGIES

A marketing strategy is a process that can allow an organization to concentrate its (always

limited) resources on the greatest opportunities to increase sales and achieve a sustainable

competitive advantage.

A marketing strategy is most effective when it is an integral component of corporate strategy,

defining how the organization will engage customers, prospects and competitors in the market

arena for success. It is partially derived from broader corporate strategies, corporate missions, and

corporate goals. They should flow from the firm's mission statement. They are also influenced by

a range ofmicro environmental factors.

Marketing management is the process of planning and executing the distribution of ideas. Goodsand services to create exchanges that satisfy individual and organization objective. The

American Marketing Association Approval this definition in 1985

As critical functional area marketing has received increasingly grater attention in the competitive

business world since the early modern era. The old concept focused on the firms existing

products or services and considered marketing to consist of selling and promotion to maximize

sales at a profit. The new concept in contrast focuses on the form existing and potential

consumer and seeks to earn profit through to customer satisfaction with an integrated marketing

program.

MARKETING DECISION VARIABLES:

Before formulation of policies it me be useful for management to identify and categorize the

decision variables or factors of significance in marketing activities. According to lazar and Kelly

they may be divided into three categories.

Good and Services mix concerned with all the ingredients that consumers purchase including

items like package prices branding and services accompany the products.

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Distribution mix consisting at two major components namely channel of distribution physical

distribution.

Communication mix concerned with all the persuasive and information ingredients like personal

selling, advertising, and sales promotional and special sale aids.

MARKET SEGMENTATION

A key strategic decision related to the needs for products differentiation is the selection on

market at the corporate, SBU, product categories and or level. This is because the target market

or product is often a small part of the total market. Market segmentation thus refers to the

division of customers into meaningful buyer groups.

This can be done on the basis of such variables as socioeconomic characteristics of buyer

business.

The foremost benefit of market segmentation is that the firms are alert to the needs of different

buyer groups. Another benefit is that marketing efforts can be directed and marketing tools

among segments strategic approaches towards market segmentation

Once market segment are identified it remains for the management to decide on strategic

marketing policy in that context Two different approaches are possible.

UNDIFFERENTIATED MARKETING

A single product firms may not recognize the difference in demand for the product of different

consumer group. It me thus design the product and adept a marketing programmers with sales

appeal the maximum of consumers.

DIFFERENTIATED MARKETING:

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The forms may decide to survey all segments of the product market but a separate product designand or marketing program for each segment concentrated marketing strategy The from thesurvey one or few market segment so as to gain a sub strained market share in these sub marketrather than spreading the marketing effort mainly over many segments.

PRICING

It is useful for publication (newspapers, magazines, textbooks, rough books account books etc,

PRICING STRATEGY;

Pricing is one of the most important decision areas of marketing value: the price level and thesale volume in if self is dependent on pricing really becomes the key to the revenue of thebusiness.

Pricing becomes a vital decision area on account of many other factors besides its crucial role in

beginning revenues and profit to the business . It is essential that get a full picture before we

proceed with a discussion of the various issues relating to pricing

PHILP KOTLER:

Price is simply a convenient way to express the value that parties to transaction place up to theproduct that is being exchanged.

WILLIAM FSCHOOL:

The value of product attributes expressed in monetary terms which a consumer pays on isexpected to pay to exchanged and anticipated of the expected utilities

MEANING OF PRICE:

Price is the exchange value of goods and services in terms of money. In other words price of

product or services s what the seller feels it worth is term or money exchange could be

undertaken but then the advantage increasing monetary standard is that then buyer can

universally accepted medium of exchange any other commodities are services desired. This

exchange value is called price. Terms of money the exchange could be under taken, but then the

advantage increasingly monetary standards is that they buyer can universally accepted medium

of exchange any other commodities are services desired this exchange value is called price.

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IMPORTANCE OF PRICE IN BUSINESS:

Price in important element in meet consumer needs price and pricing policy is among the mostimportant problems that comfort management today. The value and utility of product have to theset against. Price is always and important consideration both to the buyer and seller it can often

smell success disaster to affirm.The perfect market price s determined by supply and demands thus however assume that they are

many buyers and sellers that buyers are bully.

Economic uses a large number of tools in determining the price theory:

Economic uses a large number of tools in determines the price in spite capable of describing a

presence method price determination all of those tools are more concerned with fundamental

tendencies that are at a work in various types of market structure even it business man were

willing to flow theoretical concept is setting prices the could not do so due to tack necessary

clued theoretically it is possible to relation ship between income and marginal cost and this

relationship to price and quantities. But for partial application data no available for all methods.

Pricing is a point where theory and practice do not reconcile. This could be illustrated by the

following example the concept of elasticity.

Demand describes the relationship between changes in prices and the accompanying. Changes

demands the theory states that the change is price will be make change in clearance and that they

are inversely related if the prices are out down the demand will naturally expand but the theory

feels to give any indication in exact terms and it remains only as a kind of general guideline.

The economic factors fare not the only factors that influence the price determination there are

other factor also that pay an equal important part in the determination of product. In short

businessman when setting a price of goods. Today has to consider various factors like consumer

a demands competitions political consequences legal aspect and seven ethical aspect of pricing.

In addition the most consider his own cost.

The cost of the channels he use reach the market and the various activities he has to perform in

connection with the sale (such as advertisement and sale promotion freight madding cost distant,

etc) for two groups internal factors and external factors.

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FACTORS INFLUENCING PRICING:

INTERNAL FACTORS:

Corporate and marketing objecting of this firms

The image sought by the firms through pricing.

The basic characteristic of the product.

The stage of the product on the product life cycle

Price elasticity of demand of the product

Use patterns and turns around rate of the product

Cost of manufacturing and marketing

Composition of the product line of the firms

EXTERNAL FACTORS:

Market characteristics

Buy our behaviors in respect of the particular product.

Extend of bargaining power of main customer

Competition pricing policy

Government controls regulation Other receiving legal accept

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Company profile:

BINDU EPOXIES INDIA INTERNATIONAL is a professionally run company into

the manufacturing and supplying of a wide range ofEpoxy resins, Concreteadmixtures, Grouts, Water Proofing compounds, Bonding agents, Tile adhesives,Wall putty, Tile joint Grouts, Floor Hardners, and Repair products etc.

since the year 1995. . These strictly comply with the standards of the industryand are well applauded for its Bindu wall Care Putty & Impression Wall BasePutty offered by us conforms to the HDB (Housing Development

Board), Andhra Pradeshand is not only ideal in performance but also economical.

Under the dynamic leadership of our M.D, Mr.G.Subba Rao, we have successfully established ourselves in some parts of our country. His

dynamic leadership and business values have assisted us in spreading our

business in Orissaa, Karnataka part from Andhra pradesh

in visakhapatnam., a prominent industrial center of A.P, we are wellconnected with rail, road and air transport, owing to this; we deliver our

range within the negotiated delivery time. Our modern infrastructure andcutting edge technology has assisted us in gaining a wide customer base which

is spread throughout the country. In addition to this, we also have expertise to

customize our range as per the specifications of our valued customers.

Our range of products involve, Epoxy resins, Concrete admixtures, Grouts,Water Proofing compounds, Bonding agents, Tile adhesives, Wall putty, Tile jointGrouts, Floor Hardners, and Repair products etc .is used in Building Compound,Swimming Pool Decks, Outdoor Spaces, Footpaths, Driveways, Residential

Streets, Public Parking, Bus Shelters, Ramp Area, Petrol Pumps, GasStations, Industrial Floors, Any Non Skid External Paving and in many

others. We market our range under the brand name ofBINDU EPOXIES INDIAINTERNATIONAL.

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Company Details

Year of

Establishmen

t

1995

Legal Status

of Firm

Private Ltd. Co. Registered under Indian Companies Act1956

Turnover Upto RS 50 LAKHS (Approx.)

Income Tax

Registration

No.

AAGCM0482M

Tax

Identification

No.

06691215810

Central Sales

Tax No.

06691215810

Nature of

Business

Manufacturer Exporter

Wholesaler

Team & Staff

Total

Number

of

Employees

11 to 25 People

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putty industry. In addition to this, we also offer our customers the facility of customizationas per their industry specific requirements.

Our qualitative range has attracted numerous prominent customers; some of them are as

follows:

N.T.P.C

B.H.P.V

H.P.C.L

Indian Oil Corporation

V.U.D.A (visakhapatnam)

Terms and conditions pertaining to mode of payment, lead time, minimum order and

others can be discussed at the time of placing of order.

Product Portfolio

We are involved in the manufacturing and supplying of a wide range of cement based products that

includes Resins, Grouts, Admixtures, and Wall Care Putty. Our range comprises :

Epoxy Resins

Concrete Admixtures

Grouts

Water Proofing Compounds

Bonding Agents

Tile Adhesives

Wall Care Putty

Epoxy Floor Coating and Protective Coating

Epoxy Floor Screed

Tiles Joint Grouts

Floor Hardners

Repair products

Bindu Wall Care Putty

o Elegant design

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o Attractive colors

o Easy to use ( Wall Care Putty)

o Well polished

o Dimensionally accurate

o Perfect cutting and finishing

o Innovative designso Available in different sizes, shapes, patterns, colors and textures

o Versatile application areas

o Offered in glossy or natural finish

We are well equipped to customize our entire gamut as per the specifications provided

to us by our valued customers.

Owing to its conformity to the existing and recommended standards of the industry, these are

well acknowledged across the market. Bindu Wall Care Putty offered by us complies with the

standards of the HDB (Housing Development Board), Andhra pradesh. Our range of productis marketed under the brand name of Bindu epoxies.

Quality Assurance

We offerResins, Grouts, Admixtures and Wall Care puttymanufacturedby

using qualitative raw material sourced from trustworthy vendors.

Professionally competent and experienced quality analysts scrupulously

examine the entire process of manufacturing, so as to ensure quality. Owing to

all this, we have gained anISO 9001:2000 Certification. Our wide rangestringently complies with the standards of the industry and has earned high

regard throughout the country.

To maintain our present niche in the industry, our quality analysts check our

range on following parameters:

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Quality of raw material

HDB (Housing Development Board)

Design

Tolerance Sturdiness

Color

Operation

Reliability

Finishing

Research and Development

Our modern Research and Development wing is supervised by accomplished researchprofessionals who have proficiency in cement based products such as Resins, Grouts,Admixtures, Wall Care Putty. They are ceaselessly involved in research related to our rangeand facilitate us in the anticipation of the market dynamics. Apart from this, they work in

coordination with the production unit as well as with the in-house design unit and help us

in developing our range using latest technology. These professionals conduct research on

following factors:

Raw material

Manufacturing process

Technology

Design

Any new development taking place in cement based products Epoxy resins, Concrete

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admixtures, Grouts, Water Proofing compounds, Bonding agents, Tile adhesives, Wallputty, Tile joint Grouts, Floor Hardners, and Repair products , which can be ideal for ourcompany as well as for our valued customers, is assessed on the feasibility and

proficiency. Only if it meets these factors, it is recommended to the related

department. Apart from this our research wing is technically equipped to store

research data digitally for future reference.

Bindu Grouts:

Free flow non shrink cementitious high strength grout

BINDU grout is a specially formulated cementitious grout which hasexcellent shrink resistance and free flow properties. The very high initial and

ultimate strength make it suitable for applications below load bearing areas

where static and dynamic loads occur. The high strength cementitious grout

has unique formulation which does not cause corrosion of machine parts,bolts

etc. in contact with.

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Areas of application:

Heavy duties machines foundations

Base plates and bolt pockets of turbo generators.

Columns in pre cast constructions.

Diesel generators sets.

Cement ,textile,and paper mills machinery.

Steel rolling mill beds.

Crane and transformers raks.

Concrete anchors.

Cavities ,gaps and recesses.

BINDU ADMIX:

BINDU ADMIX is chloride free water reducing admixture based on selected

sugar reduced lingo sulphanate . it is supplied as a brown solution . on

addition to concrete it dispenses the cement particles and hence strengthens

the work abilty and quality of concrete.

Standard : compiles with is9103-1979 BS 5075 part -1

ASTMC-494 type A as a normal water reducing Admixture.

Where to use:

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It is used where long transportation is involved ready mix concrete

plant. Concrete is required for high raise building.

Very massive foundations mass centre where cool joints have to be

avioided and where of exothermic concrete heat has to be control. Hi-rise towers, chimneys and slip form structures has to be constructed.

ADVANTAGES:

Gives improved quality of concrete as it reduce bleeding. Honey

combinig ,segregation and gives better finish.

Water reduction significantly improves comphrehensive strength at all

ages and enhances durability through the production of low

permeability concrete.

Bindu Tile bond

TILE FIXING ADHESIVE

Welcome to the place that let's you have it all. With Bindu Tile bond, your dreamhome is just a few clicks away. As this site will show you, it makes almost anykind of design you have in mind for your home possible. So versatile that it isactually a design tool that you can use at your own will. Right from creating anamazing array of flooring designs with Designer Floorings, Mosaic or Marble toapplying unusual textured finishes to the walls that make up your home. Browsethrough and let your imagination unfold. And you'll see how Bindu White can

bring your dream home to life.

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Bindu Tile bond is the product of a unique decolourising process, which

prevents oxidation of iron in the clinker. And maximizes whiteness. Its

astonishingly high refractive index and opacity impart a brilliant lustre and

smooth finish, even when mixed with pigments. Giving you cement that is

pure, super white and mixes easily with inorganic pigments. No wonder Bindu

Tile bond is the no. 1 choice for the manufacture of decorative , Mosaic tiles

and Terrazzo flooring. It is also widely used for innovative applications. Like

smooth plaster, textured plaster, exposed aggregate plaster, , fungs, hollow

blocks and architectural finishes. Bindu Tile bond can either be used in its

original form, or colored by adding inorganic pigments. Whichever way you

want it.

Packaging: Available in 1kg, 5kg, 25Kg . Packs.

Bindu White Wall Care putty:-

Bindu White Wall care Putty is tile bond based putty. BINDU wall care

is an excellent quality water resistant fine white cement based putty in a

powder form for dry and wet areas as of a interior & exeterior wall of

concrete and plaster surface. It is easy and economical too . bonds the surface

very strongly and must be applied before painting on the plastered

wall/ceiling to level the surface. Paint like emulsion base and xsolvent base

paints can be applied over. It gives smooth finish .It provides a protective base

for your expensive paints. Its superior water resisting properties prevent the

paint from flaking even if the walls are damp. It's used to fill fine pores in

walls and ceilings, so you get the smooth, dry surface that's so essential for

painting. Bindu White Wall care putty has better water-resistance, adhesive

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strength and durability than ordinary putties. Being cement based it has

better compatibility with the base plaster and forms a durable base for paints.

It can be applied on both, Interior and exterior walls. Making it a mini-

revolution in putties!

Available in FINE & COARSE (MATT) finish.

Only international standard tile bond based Putty in India with Water-

resistant properties. Coarse Putty levels the wall surface.

Fine Putty provides a thin skim-coat, which acts as a protective base for

expensive paint.

Packaging: Available in 5 Kg, 20 Kg & 4o Kg packs.

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