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PUMA LIMITED. SUBJECT- MARKET STRATEGIC & PLANS A PROJECT SUBMITTED TO THE UNIVERSITY OF MUMBAI FOR THE DEGREE OF MASTERS IN COMMERCE SEMESTER - 1 IN THE PARTIAL FULFILLMENT REQUIREMENT OF THE COURSE (ACADEMIC YEAR 2015-16) BY PRAFUL K. VEGDA ROLL NUMBER:- UNDER THE SUPERVISION OF PROF:- ANJU YADAV DEPARTMENT OF MCOM BHARTIYA VIDYA BHAVANS HAZARIMAL SOMANI COLLEGE OF ARTS AND SCIENCE PLACE - MUMBAI DATE-

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Page 1: PUMA LIMITED.docx

PUMA LIMITED.SUBJECT- MARKET STRATEGIC & PLANS

A PROJECT SUBMITTED

TO THE UNIVERSITY OF MUMBAI

FOR THE DEGREE OF

MASTERS IN COMMERCE

SEMESTER - 1

IN THE PARTIAL FULFILLMENT REQUIREMENT

OF THE COURSE

(ACADEMIC YEAR 2015-16)

BY

PRAFUL K. VEGDA

ROLL NUMBER:-

UNDER THE SUPERVISION OF

PROF:- ANJU YADAV

DEPARTMENT OF MCOM

BHARTIYA VIDYA BHAVANS

HAZARIMAL SOMANI COLLEGE OF ARTS AND SCIENCE

PLACE - MUMBAI

DATE-

INTERNAL SIGN OF SUPERVISION

SIGN OF EXTERNAL SUPERVISOR

NAME

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CERTIFICATE

This is to certify that this project report entitled MARKET STRATEGIC & PLANS Submitted by PRAFUL K. VEGDA in partial fulfillment of the requirement for the degree Master of Commerce (M.Com) Part 1 (Semester 1) is a bonafide research work completed under my guidance and supervision . No part of this project has ever been submitted for other degree .the assistant rendered during the course of the study has been duly acknowledged.

External Examiner Internal Examiner

Professor Name - ANJU YADAV

Date-

DECLARATION

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Certified that I PRAFUL K. VEGDA of Master of Commerce (M.com) Part – 1 (Semester 1) have prepared titled MARKET STRATEGIC & PLANS the guidance of Prof. ANJU YADAV .Department of Commerce Bhavan’s Hazarimal Somani College. Chowpatty, Mumbai in partial fulfillment of the requirement for the degree of Master of Commerce (M.com) . Their by no part of this project has ever been submitted any other degree.

PRAFUL K. VEGDA

Roll No.

M.com (part-1)

INDEX

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Sr.no.

Contents

1 Introduction/definition of Brand2 Introduction of Company3 History of Company4 Profile of Company5 Objective of Study6 Research Methodology7 Timeline8 Sponsorship9 Different Products of Company10 Ready to challenges faced sport

market in india11 Expand in metros12 Problems in puma

ConclusionBibliography

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BRAND

INTRODUCTION

A brand (or marque for car model) is a name, term, design, symbol or other feature that distinguishes one seller's product from those of others.[2] Brands are used in business, marketing, and advertising. Initially, livestock branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron.

In accounting, a brand defined as an intangible asset is often the most valuable asset on a corporation's balance sheet. Brand owners manage their brands carefully to create shareholder value, and brand valuation is an important management technique that ascribes a money value to a brand, and allows marketing investment to be managed (e.g.: prioritized across a portfolio of brands) to maximize shareholder value. Although only acquired brands appear on a company's balance sheet, the notion of putting a value on a brand forces marketing leaders to be focused on long term stewardship of the brand and managing for value.

The word "brand" is often used as a metonym referring to the company that is strongly identified with a brand.

Marque or make are often used to denote a brand of motor vehicle, which may be distinguished from a car model. A concept brandis a brand that is associated with an abstract concept, like breast cancer awareness or environmentalism, rather than a specific product, service, or business. A commodity brand is a brand associated with a commodity.

DEFINATION OF BRANDING

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Branding – definition American Marketing Association: A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name.

ROLE OF BRANDS

The American Marketing Association defines a brand as “a name, term,

sign, symbol, or design, or a combination of them, intended to identify

the goods or services of one seller or group of sellers and to

differentiate them from those of competitors.”

Therefore, a brand is a product or service which help the organization

differentiate their products or services from others.

The differentiation of a brand can be:

1. Related to Product Performance : e.g. Gillette, Merck, Sony, 3M

1. Functional

2. Rational

3. Tangible

2. Related to Brand Identity: e.g. Coca-Cola, Calvin Klein, Gucci,

Tommy Hilfiger, Marlboro

1. Symbolic

2. Emotional

3. Intangible 

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Puma SE (officially branded as PUMA) is a major German multinational company that produces athletic and casual footwear, as well as sportswear, headquartered in Herzogenaurach, Bavaria, Germany. The company was formed in 1924 as Gebrüder Dassler Schuhfabrik by Adolf and Rudolf Dassler. The relationship between the two brothers deteriorated until the two agreed to split in 1948, forming two separate entities, Adidas and Puma. Both companies are currently based in Herzogenaurach, Germany. In the United Kingdom Dunlop Slazenger has the licensing rights to the brand.

Puma makes football boots and has sponsored a number of footballers, including Pelé, Eusébio, Johan Cruyff, Diego Maradona,Lothar Matthäus, Kenny Dalglish, Thierry Henry, Robert Pires, Adam Lallana, Radamel Falcao, Sergio Agüero, Cesc Fàbregas,Olivier Giroud, Marco Reus, Marco Verratti, Gianluigi Buffon, Mario Balotelli and Diego Godin. Puma is the sponsor of the Jamaicantrack athlete Usain Bolt. The first endorser for Asian Region is Luhan (singer), a Chinese actor and singer. In the United States, the company is known for the suede basketball shoe it introduced in 1968, which eventually bore the name of New York Knicksbasketball star Walt "Clyde" Frazier, and for its endorsement partnership with Joe Namath.

Following the split from his brother, Rudolf Dassler originally registered the new-established company as Ruda, but later changed the name to Puma.[3] Puma's earliest logo consisted of a square and beast jumping through a D, which was registered, along with the company's

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name, in 1948. Puma's shoe and clothing designs feature the Puma logo and the distinctive "Formstrip" .[4]

The company offers lines of shoes and sports clothing designed by Lamine Kouyate, Amy Garbers, and others. Since 1996 Puma has intensified its activities in the United States. Puma owns 25% of American brand sports clothing maker Logo Athletic, which is licensed by American professional basketball and association football leagues.

Since 2007 Puma has been part of French group Kering (formerly known as Pinault-Printemps-Redoute or PPR).

Puma SE (Dunlop Slazenger Group Plc)

Type Societas Europaea

Traded as FWB: PUM

Industry Clothing and consumer goodsmanufacture

Founded 1924 as Gebrüder Dassler Schuhfabrik(registered in 1948)[1]

Founder Rudolf Dassler

Headquarters

Herzogenaurach, Germany

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Area served

Worldwide

Key people

Jochen Zeitz (Chairman)Bjørn Gulden(CEO)Klaus Bauer(COO)

Products Footwear, sportswear, sports goods, fashion accessories

Revenue €3.17 billion (2014)[2]

Operating income

€306.8 million (2010)[2]

Profit €202.2 million (2010)[2]

Total assets

€2.367 billion (end 2010)[2]

Total equity

€1.386 billion (end 2010)[2]

Number of employees

10.830 (average, 2014)[2]

Parent Kering

Website www.puma.com

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HISTORYChristoph von Wilhelm Dassler was a worker in a shoe factory, while his wife Pauline ran a small laundry in the Bavarian town of Herzogenaurach, 20 km (12.4 mi) from the city ofNuremberg. After leaving school, their son, Rudolf Dassler, joined his father at the shoe factory. When he returned from fighting in World War I, Rudolf received a management position at a porcelain factory, and later in a leather wholesale business in Nuremberg.

Rudolf returned to Herzogenaurach in 1924 to join his younger brother, Adolf, nicknamed "Adi", who had founded his own shoe factory. They named the new business "Gebrüder Dassler Schuhfabrik" (Dassler Brothers Shoe Factory). The pair started their venture in their mother's laundry. At the time, electricity supplies in the town were unreliable, and the brothers sometimes had to use pedal power from a stationary bicycle to run their equipment.[5]

Adolf drove from Bavaria to the 1936 Summer Olympics in Berlin with a suitcase full of spikes and persuaded United States sprinter Jesse Owens to use them, the first sponsorship for an African American. Owens won four gold medals. Business boomed; the Dasslers were selling 200,000 pairs of shoes annually before World War II

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Company split and creation of PumaBoth brothers joined the Nazi Party, but Rudolf was slightly closer to the party. A growing rift between the brothers reached a breaking point during a 1943 Allied bomb attack. Adi and his wife climbed into a bomb shelter that Rudolf and his family were already in. "Here are the bloody bastards again," Adi said, apparently referring to the Allied war planes, but Rudolf was convinced his brother meant him and his family.[7] When Rudolf was later picked up by American soldiers and accused of being a member of the Waffen SS, he was convinced that his brother had turned him in.[5]

The brothers split the business in 1948. Rudolf moved to the other side of the Aurach River to start his own company. Adolf started his own sportswear company using a name he formed using his nickname—Adi—and the first three letters of his last name—Das—to establish Adidas. Rudolf created a new firm that he called "Ruda", from "Ru" in Rudolf and "Da" in Dassler. Rudolf's company changed its name to Puma Schuhfabrik Rudolf Dassler in 1948.[8]

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Early years and rivalry with AdidasPuma and Adidas entered a fierce and bitter rivalry after the split. The town of Herzogenaurach was divided on the issue, leading to the nickname "the town of bent necks"—people looked down to see which shoes strangers wore.[9] Even the town's two football clubs were divided: ASV Herzogenaurach club supported Adidas, while 1 FC Herzogenaurach endorsed Rudolf's footwear.[5] When handymen were called to Rudolf's home, they would deliberately wear Adidas shoes. Rudolf would tell them to go to the basement and pick out a pair of free Pumas.[5] The two brothers never reconciled, and although both are buried in the same cemetery, they are buried at opposite ends as far away from each other as possible.[10]

In 1948, the first football match after World War II, several members of the West German national football team wore Puma boots, including the scorer of West Germany's first post-war goal, Herbert Burdenski. Four years later, at the 1952 Summer Olympics, 1500 metres runner Josy Barthel of Luxembourg won Puma's first Olympic gold in Helsinki, Finland.

At the 1960 Summer Olympics Puma paid German sprinter Armin Hary to wear Pumas in the 100 metre sprint final. Hary had worn Adidas before and asked Adolf for payment, but Adidas rejected this request. The German won gold in Pumas, but then laced up Adidas for the medals ceremony, to the shock of the two Dassler brothers. Hary hoped to cash in from both, but Adi was so enraged he banned the Olympic champion.[6]

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Present dayFor the fiscal year 2003, the company had revenue of €1.274 billion. Puma were the commercial sponsors for the 2002 anime series Hungry Heart: Wild Striker, with the jerseys and clothing sporting the Puma brand. Puma ranks as one of the top shoe brands with Adidas and Nike.[16]

The company has been led by CEO and Chairman Jochen Zeitz since 1993. His contract was extended until 2012 in October 2007.[17]

Japanese fashion guru Mihara Yasuhiro teamed up with Puma to create a high-end and high-concept line of sneakers[18]

Puma is the main producer of enthusiast driving shoes and race suits. They are the primary producer for Formula One and NASCAR clothing. They won the rights to sponsor the2006 FIFA World Cup champions, the Italian national football team, making and sponsoring the clothing worn by the team. They entered a partnership with Ferrari, Ducati andBMW to make Puma-Ferrari, Puma-Ducati and Puma-BMW shoes. On 15 March 2007 Puma launched its 2007/2008 line of uniforms for a club, and Brazilian football club Grêmiowill be the first to use the laser-sewn technology, similar to that worn by Italy at the 2006 World Cup, because their season starts six months earlier than European clubs.

Rihanna was named Creative Director of Puma overseeing direction of the womenswear line in December 2014.

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As of 2014, Puma SE employs more than 10,000 people worldwide and distributes its products in more than 120 countries.

Objective of Study

1) To study the profile of company.2) To evaluate Brand detail of puma company.3) To evaluate Challenges faced by puma limited..4) To study the different products of puma company.

Research Methodology -:

Secondary Data –

Secondary data is data collected by someone other than the users common source of secondary data for social science included censuses, organizational records and data collected through qualitative methodologies or qualitative research.

Sources of Secondary data-

1) External data is data that is collected by other people or organization from your organization’s external environment.

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2) Internet sources. E.g. Google chrome, Wikipedia

Timeline

1920: Rudolf Dassler and his brother Adolf start making sports shoes.[47]

1924: Foundation of Gebrüder Dassler Schuhfabrik, Herzogenaurach, Germany.[14]

1948: Foundation of Puma Schuhfabrik Rudolf Dassler (1 October), Introduction of the ATOM, Puma's first football shoe.[14]

1949: Rudolf Dassler has the idea of football shoes with removable studs. He begins working on their development and production.[48]

1952: Introduction of the SUPER ATOM, the world's first boot with screw in studs.[14]

1953: Development of ATOM's successor: the BRASIL. [49]

1958: Introduction of Puma's signature "Formstripe" at the FIFA World Cup in Sweden.[50]

1959: The company is transformed into a limited partnership named Puma-Sportschuhfabriken Rudolf Dassler KG. [51]

1960: Introduction of the vulcanization production technique.[14]

1966: Launch of the WEMBLEY, the predecessor model to the Puma King.

1968: Launch of the legendary KING. Puma is the first manufacturer to offer sports shoes with Velcro fasteners.[21]

1968: Launch of the SUEDE. [52]

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1973: Launch of the CLYDE. Designed for basketball player Walt "Clyde" Frazier, as a wider-fitting version of suedemodel.[53]

1974: Rudolf Dassler dies. His sons Armin and Gerd take over the company's management.[51]

1976: Introduction of the S.P.A.-Technology.[51]

1986: Transformation into a stock corporation.[54]

1989: Launch of the TRINOMIC sport shoe system.[55]

1989: Rudolf's sons Armin and Gerd Dassler agreed to sell their 72 percent stake in Puma to Swiss business Cosa Liebermann SA.[15]

1990: Introduction of INSPECTOR, a growth control system for children's shoes.

1991: Launch of the DISC SYSTEM sports shoe.[14]

1992: Capital increase by DM 20 million, share capital reaches DM 70 million.

1993: Jochen Zeitz is appointed Chairman and CEO, Proventus/Aritmos B.V. becomes majority shareholder.[56]

1994: The first profit since the company's IPO in 1986 is registered.[57]

1996: Puma is listed in the German M-DAX index;[58] introduction of the CELL technology, the first foam-free midsole.[59]

1997: Launch of the CELLERATOR. 1998: Puma starts a collaboration with designer Jil Sander.[60]

1999: Puma becomes an official on-field supplier of the NFL, a legacy reflected in the numeral font of the Tennessee Titans jersey which still uses the original Puma design. Puma is the uniform manufacturer for both Super Bowl teams that year: the Titans and St. Louis Rams.

2000: Production of fireproof footwear in partnership with Porsche and Sparco.

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2001: Acquisition of the Scandinavian Tretorn Group.[61]

2002: Puma ends tenure as an on-field supplier for the NFL, when Reebok is announced as the league's sole official uniform and apparel sponsor for 10 years (2002-2011).[62]

2002: Launch of the SHUDOH. 2003: Majority shareholder Monarchy/Regency sells its

shareholdings to a broad base of institutional investors.[63]

2004: Collaborative partnership with world-renowned designer Philippe Starck.[64]

2005: Mayfair Vermögensverwaltungsgesellschaft mbh acquires a total of 16.91% shareholding.[65]

2006: The company is listed in the Dow Jones Sustainability Index;[66] Introduction of the S.A.F.E. concept, a specific tool developed to continuously improve social and environmental standards. Shoe collection in cooperation with Alexander McQueen.[67] Italy would go on to win the 2006 World Cup. Due to Puma's sponsorship of the Italian national team, many of the teams' players wore Puma boots.[68]

2007: Voluntary public take-over by Pinault-Printemps Redoute;[69] Prolongation of the contract with Jochen Zeitz by five years.[17]

2008: Melody Harris-Jensbach is appointed Deputy CEO; Designer and artist Hussein Chalayan becomes Creative Director,[70] Puma also acquires a majority stake in Chalayan's business and Hussein Chalayan. [71]

2010: Signs two-year deals to make the kits of Newcastle United, Motherwell, Hibernian, Burnley & Preston North End from the 2010–11 season.[72]

2010: Puma announced it would acquire 100 percent of Cobra Golf, based in Carlsbad, California, from Fortune Brands Inc., but did not provide any financial details.[73]

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2011: Signs a deal to make kits of Dinamo Zagreb from the 2011–12 season.

2011: Signs a three-year deal with A-League champions Brisbane Roar.[74]

2012: Signs an eight-year deal to make kits for Borussia Dortmund, starting from the 2012-13 season.[75]

2013: Signs a five-year deal to make kits for Rangers from the 2013-14 season.[76]

2013: Agrees to make kits for Football League Championship side Wolverhampton Wanderers on a four-year deal.[77]

2013: Signs a five-year kit deal with Serbian side Red Star Belgrade.[78]

2014: Signs a five-year kit deal worth £30 million-a-year with Arsenal.[79]

2014: Rihanna is named PUMA's global brand ambassador for women's training and PUMA Women's Creative Director, overseeing the direction of the womenswear line, working in partnership with PUMA's Internal Product Creation team.[80]

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Sponsorship

Main article: List of Puma sponsorships

Usain Bolt wearing Puma shoes.

Puma is a sponsor of sporting events and identities internationally.[14] The company sponsors numerous footballers and national football teams; the "Formstripe" especially has a heavy presence in Africa. Puma is the sponsor of a number of Bundesliga clubs, most notablyBorussia Dortmund.[81]

In cricket, Puma is the official apparel sponsor for the Sunrisers Hyderabad (representing the city of Hyderabad), and Rajasthan Royals(representing the city of Jaipur) in the Indian Premier League.[82][83] International cricketers such as Yuvraj Singh, Craig Kieswetter, Adam Gilchrist and Brendon McCullum are sponsored by the brand.[84]

In Rugby Union, Puma entered an eight-year contract as official apparel sponsor of the Irish Rugby team that commenced with the 2009–10 season.[85] Under the agreement, Puma supplies the team kit and training equipment and markets replica kits. Puma also sponsor English premiership side Bath.[86]

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In golf, Puma sponsors Rickie Fowler and Jonas Blixt.[87]

In track and field, Puma is best known as the sponsor of Usain Bolt and the Jamaica athletics team.[88]

Puma is also a sponsor of the web show The Legion of Extraordinary Dancers[89] and rapper Meek Mill.[90] In January 2014 Puma andArsenal F.C. announced a long-term Kit partnership that created the highest value deal in the history of both organisations.[91] The Indian Super League announced in September 2014 that the Puma EvoPower 1 Statement ball would become its official match ball.[92] Puma is also the official kit sponsor for Indian Super League teams Mumbai City FC andDelhi Dynamos.[93]

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DIFFERENT PRODUCT OF PUMA

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Puma ready to challenge sportswear market in India

German sportswear giant Puma is shifting gears. After having consolidated its position in the Lifestyle sportswear market in India it is ready to challenge Adidas, Reebok and Nike in performance segment. Puma is also planning to up its retail presence across the country in a bid to hike market share and dislodge the current incumbents, reports CNBC-TV18’s reporter Farah Bookwala. With a 30-35 percent market share in Rs 36,000 crore Indian sportswear market, puma has been trailing behind Reebok and Adidas in the performance sports category. However, it has consolidated its presence in the Lifestyle sportswear market, which contributes almost 50 percent of its revenues. However, with the launch of its performance running shoe, which claims to expand and contract as the foot moves, Puma is set to take the battle to challengers Nike and Adidas. Rajiv Mehta, MD, Puma India says believes that with performance and without diluting the lifestyle quotient it is going to increase the share of performance and eat market share from traditional competitors like Nike, Adidas and Reebok." Also read: b:kind for women: Stylish, trendy, affordable fashion Additionally, puma will drive sales by expanding its retail operations. Puma is looking to add 40 stores to its existing count of 270 stores by 2013-end and is also looking to expand in tier-II and tier-III markets with robust demand in developing markets. Even as Puma scouts for independent dealers and distributors in these markets. By 2013-end, Puma is hoping to foray into another 5-6 cities, taking its presence to 81 cities. It hopes new launches, better distribution and penetration will help it gain market share from the current incumbents.

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Mehta says, "given another year and a half and if the impact still slows down Reebok and we continue to grow in upwards of 35 percent, then, I think we will definitely be in the top 2 or top contender in the space." Like competitors Adiadas and Nike, Puma depends greatly on the online space to drive sales. Around 15 percent of the company's annual revenues are derived from e-commerce platforms. However, it is wary of getting into the discount game to drive sales as it wants to protect margins. The company hopes its product innovation coupled with its retail & marketing push will help it turn around its fortunes in the performance sports market this year.

Puma to expand in metros, tier 11 cities; focus on e-retail

German sportswear firm Puma on Wednesday said it would go for a balanced approach for its expansion in India by opening new stores in tier II & III cities, while also adding to existing developed metro markets. Besides, the brand would also make its e-commerce platform Puma.com more richer in terms of contents and offerings in the next six months. "We would expand into tier II and III places as well as focus also on the existing developed metro cities," Puma India Managing Director Abhishek Ganguly told Agency. However, he said, "Dependence on the metros is reducing as the other cities are growing." Puma, at present, is operating 340 stores in 115 cities. It added 10 cities to its network in the last six months, Ganguly added. According to him, Puma, is the only company among the leading brands in India, which is profitable. "We are the only brand, which is profitable here. We have started to make profit within four years of operations.

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This was because of our sustainable and strong performance," Ganguly said. The company's digital platform has grown by up to three times in the last one year, he said. "This is going be more improved in the next six months...we would make it richer in terms of contents and offerings," Ganguly added. At present, Puma's 15 percent revenue comes from online segment, which includes its contribution from other e-commerce websites. Ganguly said that the sales from Puma's brick-and-mortar format grew by 13 percent last year and added that both the models - online and offline - would coexist. Moreover, Puma would continue to introduce leading brand into the Indian market from its global kitty. "We need to stay relevant globally. Moreover, the taste of people here is also getting global. They keep a track of our global launches," Ganguly said. This year, Puma has introduced 'Ignite' brand of running shoes here. Last year it had introduced its leading shoe brands - Mobium and Faas - in India. "We could introduce Arsenal's jersey here in the second half of this year," Ganguly said.

PROBLEMS IN PUMA

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The Puma - The Bad and the Ugly

Introduction

Every car has its niggles – annoying things that can go wrong that are peculiar to that particular make and model, and the Puma is no exception. Thankfully though, the Puma's foibles are comparatively minor.

In this article, I attempt to outline the most common faults that have been reported on Pumapeople (the on-line Puma owners' club) over the years. When inspecting a Puma with a view to buying it, you should of course check all of the usual things, as you would with any car. In this article, I attempt to give a rough idea of extra things that a prospective buyer should be aware of when viewing a Puma.

Very Common Faults

Phew! It's Hot in Here

One of the most common questions asked on the Pumapeople forum is "Why is my heater not working properly?" The most common cause of a malfunctioning heater is a failed heater control valve. The Puma inherited this notoriously unreliable component from the Fiesta, and when it fails, the heater temperature will stick on either full heat or no heat.

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Although a new heater control valve will probably set you back less than £20, Ford will probably charge you an hour's labour on top of that to fit it (although if you're mechanically-minded, there is a guide on which shows you how to fit a new one yourself). It is important therefore, to always test the heater on both the hot and cold settings when viewing a Puma.Oops! There Goes My Parcel Shelf

Another very common fault with Pumas is the tendency of the parcel shelf to fall into the boot space. This is caused by the parcel shelf's two hinge pins being too thin for the recesses in the plastic trim, which are supposed to hold them securely in place. Many Puma owners have solved this problem by fattening up the pins with electrical insulation tape. As the solution to this fault is so simple and inexpensive, it is probably not worth even taking into consideration when viewing a prospective purchase.

The Incredible Melting Steering Wheel

Actually, this is not as dramatic as it sounds. The Puma's steering wheel is trimmed with faux leather on the left and right, where you would normally hold it. With some Pumas, the surface of the leather develops a lumpy texture that looks as though it has melted and then re-set. Some owners have theorised that this is the result of the trim reacting with sweat from the hands, but this has not been proven. This fault doesn't affect the car's driveability in any way, just the aesthetic appearance of the steering wheel.

Conclusion

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On the whole, the Puma has few faults, and those that it does have are fairly minor. Few people who have driven a Puma would criticise it. Its style, agility, and exceptional handling make it a driver's dream, which

incidentally was the marketing slogan that Ford used when they launched the car. Add to this the willing 1.7 engine with variable valve

timing that delivers power all the way up to the rev limiter, and it's easy to see why Top Gear awarded it their 'Car of the Year' accolade. Quite simply, it's an incredibly fun car to drive. If you know what to look for,

there's no reason why you shouldn't bag yourself a bargain.

Bibliography

www.google.com www.mananprakashan.com www.puma.com Wikipedia