Marketing 4 Ps Free Essays

string(41) " formulation of competitive strategies \." â€Å"A STUDY ON ORGANIZATIONAL FUNCTIONS† AT RAHUL MOTORS A project report submitted to SRM University, In partial fulfillment of the requirement for the award of The degree of MASTER OF BUSINESS ADMINSTARTIONS Submitted by AMIT PRASAD (3511110732) Under the guidance of Mr. G. VENUGOPALAN (Assistant Professor) SRM SCHOOL OF MANAGEMENT SRM UNIVERSITY KATTANKULATHUR CAMPUS KANCHEEPURAM-03 MAY2012-JULY2012 DECLARATION I AMIT PRASAD do declare that the research report entitled â€Å" A STUDY ON ORGANISATIONAL FUNCTIONS from RAHUL MOTORS in HOOGHLY (WEST BENGAL)† submitted to the SRM UNIVERSITY for the partial fulfillment of the requirement for the degree of Master Of Business Administration is my own endeavor and it has not been submitted earlier to any institution / university for any degree. We will write a custom essay sample on Marketing 4 Ps or any similar topic only for you Order Now PLACE: Chennai Date: signature of the candidate AMIT PRASAD REG NO: 3511110732 ACKNOWLEDGEMENT It is a matter of great satisfaction and pleasure to present This Report of RAHUL MOTORS [west Bengal]. I take this Opportunity to Owe my thanks to all those involved in my Training. This project report could not have been completed without the Guidance of our director of the company, Avijit Roy and project Venugopalan . Their timely help encouragement helped me To complete this project successfully. I express my gratitude towards staff of RAHULMOTORS those Who have helped me directly or indirectly in completing the Training. AMIT PRASAD PREFACE When everybody is providing what is expected Fro m him/ he r, the pe rson de livering the U n e x p e c t e d to its customers succeeds in the long run. In Today’s marketplace, it is no longer enough to satisfy the Customers, the manufacturer needs to delight them as well. To Conquer the modern business world one needs to be one-step ahead of its competitors. MBA is combination of both theoretical as well as practical aspects of business and summer training gives a good opportunity to work in a real work environment. This Project report is the result of 8 weeks training at â€Å"RAHUL MOTORS†. It has given me a great exposure and I have found practical work very different from theoretical ones. EXECUTIVE SUMMARY I had an opportunity to take my summer interns project â€Å"RAHUL MOTORS† Hooghly West Bengal. During the project I had a privilege being guided by MR. Avijit Roy, director of The company. The mother business of the company is to buy and Sell auctions Vehicles in the market. The company was setup in 2000 and newly five more companies have been established During the Last years . The tittle of my project was â€Å"a study of organization function†. The objective of choosing these topic was learn how the Work is done in an organization. With great hard work I have tried to show in report how work are being done in the organization . I hope this report will not become the just another academic document but will in all practically prove to be a use full tool for giving direction to the RAHUL MOTORS, which is the earnest call from the depth of my heart. AMIT PRASAD RAHUL MOTORS SECRETS OF SUCCESS There are hundreds of business books and number of journals And magazines published every year on successful business Operation. However, in nutshell, it can be distilled in 8 major Secret which are as follows. ? 1st secret is that successful companies are not in business solely for the money. â€Å"Henry Ford† remarked that a company which only makes money is no sort of company at all. Strong culture, faster than other, friendly and goal oriented. ? Try to understand the customers, what customers actually wants that are understand by the company not vague idea, need aspiration and behavior. ? T he y k n o w w h a t i s i mp o rt a n t a n d t h is i s re fl e c t e d i n t h e i r impulsion of their employees. ? Su ccessful companies are persistent and p o w e r f u l communicator. People keep information and bright idea to themselves or communicate with a select few. ? Not a secret at all keep faith in simple practice and principles is the presence of the chosen few. Leader in sense overall activities he control ability and skill. ? Make profit but make customer delight. RAHUL MOTORS BELIEVES IN ? The fact that ‘change ‘is a way of life. ? Absolute market orientation for a quick and positive response to the customer’s needs. ? An uncompromising commitment to a flexible, professional and personalized service from within a stimulating result oriented environment. ? Timely delivery with consistent standards. ? Response approach to the benefits of RD and the modern technology. ? Having faith in individual potential and respect for human values. ? Being a esponsible corporate citizen with due respect to the laws of the land and its environment. ? Product to be the best available quality for premium market segments. ? These underline the corporate philosophy, which has shaped RAHUL MOTORS OF YESTERDAY and RAHUL MOTORS OF TODAY. Products to be of the best available quality for premium market segment through TQM an d zero defect implem entation. For achieving in all functional areas, encouraging innovations for constant improvement of the product and service. Having faith in your skill and ability. Always encourage and motivate your group. Believe in loyalty. RAHUL MOTORS CULTURE AND ASPECTS ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Professionalism System Approach Commitment To Quality Excellence With Economy Cost Consciousness Human Resource Regarded As Valuable Asset Emphasis On Teaching and Development Preference To Human Value Management By Participation Open Door Policy In Sharing Ideas And Suggestions Group Synergy Emphasis on effective communication and coordination Managerial strength and acceptance to change Cordial Environment Customer Focus Honor And Reward ? ORGANISATION STRUCTURE BOARD OF DIRECTOR S CHAIRMAN/ MANAGING DIRTECTOR VICE PRESIDENT MANAGER STAFF SUB STAFF FIG (1. 0) REVIEW IN LITERATURE OF MARKETING In the sequence of strategic analysis and decision, â€Å"marketing mix† falls after various external and internal environmental analysis such as SWOT analysis and even formulation of competitive strategies . You read "Marketing 4 Ps" in category "Essay examples" marketing mix is an interpretive concept in modern marketing and academically it is referred to as the set of controllable tools that the firm blend to produce the responses it wants in the target market. So, it consists of everything that the firm can do to influence the demand for their product. t is important to release that marketing mix of any company have can have one major functions that is strategic communication of the organization with the customers. It was further argued that marketing mix provides multiple paths can be achieved in written form or through communication (advertising and selling etc) or many more symbolic forms. However the key element is that the main aspects of marketing mix that will be discussed below â€Å"should not be seen as individual entities but as the set of Interrelated entities which has to be set in conjunction with one another. Main aspects of marketing mix The earliest way to know marketing is through more famous synonym â€Å"4p’s of marketing† the classification of first marketing mix was first introduce and suggested by mccarthy and includes marketing strategies product, price, place promotions . the following diagram is useful in determing the 4p’s in marketing mix. ? PRODUCT In simpler terms product consists of all features and combination of goods that the company offers to its customers . LAZER argued that the most important aspects for main two reasons. The very first is the product are the expressions for the company determining the link with the customers. so the product policy and strategy are the prime importance to an enterprise. Secondly, it is imperative to realize that the product of any company is a both component and determinant of marketing mix as it Hs a great influence in other marketing mix. So, without a proper policy a company cannot pursue for the further element of marketing mix. ? PRICE Pricing is basically a setting of price for a product or service Offered. n simplest way kotler have describe price that an amount of money paid by the customers for a product. Generally pricing strategy has been divided into two parts price determination and price administration. Pricing determination refers to as the process and activities employed to arrive at a price for a product within the same line and differences in price for a similar product. On the other hand price price for a similar product. On the other hand price adm inistration refers to the activities in fitting basic price to a particular sales situations such as local , function performed by the customers or special sales situations. PLACES Places under marketing mix compromises all company activities that make the product to the targeted customers . based on the various factors such as sales, communication , contractual considerations various ways of making product available. On a general note while planning a placement under marketing mix strategy company follow six different strategy for the placement some of the strategy are choosing single or multiple distribution channels, the type of intermediaries to use on quality and reputations. ? PROMOTIONS Promotional strategy include all through which a company communicates the benefits and values of its product. The best way of understating these p is through the concept of the marketing communication process. The actual message is the advertisement or sales presentations the destinations of potential customers. CONCLUSION At last I can conclude that the company have reached the Maturity level in the market and the proper strategies and ideas Can reach the goal which the company wants to achieve. The Utilization of resource and manpower can also achieve benefits For the growth of the company. The organization function of the company is a important part of Any organization. RAHUL MOTORS have a very planned functions that are played in the company. RECOMMENDATION ? The company should have its own website, as it helps to locate more customers. ? The location of the corporate office should be changed to the heart of the city. ? The company should make a investments on proper advertisements to capture major part of markets. ? The customers should be always be acknowledged about the new product of the company. BUSINESS ASSOCIATES OF THE COMPANY As the company is rising day by day the companies have Collaborated with differentleading companies who are the Business leaders in the market of west Bengal. The associates Are generally banks and Insurance company who does the Businesswith RAHUL GROUP of companies. The associates of the company are helping RAHUL MOTORS in different ways by providing funds to the Company. The company presently going to collaborate with more companies , now presently companies is working with some of the leading of the companies are as follows- ? MAGMA FINCORP LTD ? CITICORP FINANCE INDIA LTD ? RELIGARE FINVEST LTD ? TATA CAPITAL LTD ? RELIGARE CAPITAL LTD ? KOTAK MAHINDRA BANK LTD ? INDUSIND BANK LTD ? NEW INDIA ASSURANCECOMPANY LTD ? BAJAJ ALLIANZ GENENAL INSURANCE COMPANY LTD ? ICICI LOMBARD GENERAL INSURANCE CO. LTD MARKET SHARE OF THE COMPANY RAHUL MOTORS -15% OTHERS- 85% Market Share Rahul Motor Others FIG-2. 0 GROWTH OF THE COMPANY 6 5 4 Axis Title 3 Growth 2 1 0 2008 2009 2010 Axis Title 2011 2012 FIG-3. 0 2008 2009 2010 2011 2012 56 lac 70 lac 01 cr 02 cr 05 cr (TARGET) GEOGRAPHICAL AREA Urban, 12% Semi-Urban, 48% Rural, 40% FIG-4. 0 COMPTEITIORS OF THE COMPANY A company when gets into business, they need tackle many things . the most important problem company need to face is that, the competitors need to be careful with their ideas and strategy. As in the case of RAHUL MOTORS the company need to face many competitors . RM have their different strategy for the against company . During the past years the company have growned many opponents in their business . some of the major competitors of RAHUL MOTORS are as follows- LAXMI MOTORS AMIT MOTORS DILIP SAHA COMPANY These are some of the major opponents of the company. FIVE YEAR PLAN OF THE COMPANY On the basis of the company progress reports and with the help of the past records, company has planned to grow the company and become the major player in the market. The company have different ideas and plan for their new and existing product. The company is planning to grow their field in finance sector that is the company have an idea to get into the loan business. For an example the bank provides loan on the basis of the needs of Customers. Some of the major plans of the companies which are as follows- They are going start a new venture which would provide funds to the customers against gold, which is a new form funding system for the customers , which is also known as gold loan. ? Next plan of the company is to make the company a private Limited company which would help the company to grew Faster in the market . These are some of the above plans of the company . the most Important step the compan y is going to take in the future is that, The company is going to grow their business with their own funds which means own funding for the company, which is the crucial step the company is going to take for their future business. GEOGRAPHICAL AREA The geographical shows the optimum areas of business of the Company. The Data provided by the company was significant for me to analyze the areas where the company has more Percentage of Customersandless. In others words, we can say that the company the company’s market capture in West Bengal. A graphical presentation have showed that how the company has captured the market. Some of the areas of the company areas are as follows- ? Semi-urban areas : 48% ? Rural areas : 40% ? Urban areas: 12 % These are some of the areas where the company have capture the market GROWTH OF THE COMPANY During the last 5 years , the company have shown positive Growth without having any decline in any of the business. In 2008 the net investment was around 56 lakhs and now in 2012 the company have invested around 5 corers. The total investments shows the progress of the company. The net total investments was taken of last 5year to obtained a Graphical (fig-2. 0) representation regarding the growth of the company. HUMAN RESOURCE POLICY OF THE COMPANY The RAHUL GROUP Human Resource department plays a very Significant and important role to keep the link between the Employees and management. The company have strict and Convenient policy for the employee’s . the company’s Management always showed their employees that they are the Assets of the companies and the employees also feel homely Environment in the offices . some of the companies HR policy Which are as follows, ? LEAVE POLICY †¢ The employee can take 12 leaves in a year subject to approval of the authority. Before taking any leave, employee has to apply for leave at least three days prior for one/two leave and for long leave apply minimum ten days. If anybody is found taken leave without approval, his/her leave will be treated as LOP (Loss of pay). Six leaves can be enchased after completing the year. Its includes medical/illness. However, special medical cases will be taken into consideration. Employee can take half day leave for his personal work. ? ATTENDANCE POLICY †¢ Employee has to be present within 10. 30 a. m. and sign the Attendance register book immediately. After 10. 30 nobody wi ll be given permission to sign thereof and the employee will be marked as â€Å"Late† for this day. †¢ Leave related record will be taken from the register book. If any employee does not sign for specific day and demand after some days that this is person was present on that day. His/her demand will be strictly rejected. †¢ If any employee is found late for three days in a month, one leave will taken from his/her leave account. †¢ If anybody has face any problem or have any urgent work in the morning, he/she come late for that day but subject to approval of the authority. He/she has to inform for that matter. Without information his/her attendance will be marked as late. If anybody is found present all working day within 10. 30 a. m. and leave office 7. 00 p. m. , he/she will be will be rewarded for his/her punctuality and dedication for the work. PERFORMANCE APPRAISALS The performance review is done bi-yearly in the organization The promotions in the organization are usually governed by the following factors: †¢ How well an employee performed in his / her present job. †¢ How much potential an employee has for future responsibilities. †¢ How much additional knowledge he / she have acquired for further advancement. †¢ Personal att ribute, work habits, attitude towards self and others, ability to get along with the team, leadership qualities, personal contribution to the success of the company determines his / her competence for promotion. Feedback given by all those who work with the employee such as his / her superiors, subordinates, peers and the customers. ? EMPLOYEES RECREATIONS Birthdays and parties are organized for the employees on Specific day and month . Arrangement are done by the Companies HR. The main motive of these parties in the Company is to change the environment of work to Something different the parties includes all the employees Including directors of the company. On the other hand Picnic is also organized every year for the companies Employees which is an compulsory event organized by HR Team of the company. MARKET RESEARCH Market research often refers to either primary or secondary Research. Secondary research involves a company using Information compiled from various sources which is about new or existing product. Primary research involves qualitative research and quantative research as well as field taste and observations conducted for tailored specifically to that product. Primary research which is also called field research or original research is useful for finding information’s and getting customers views and feedback. During the survey for my report I visited many of the customers who are the new and also the exiting customers. While communicating with them I analyzed that Rahul motors always try to ststisfy their customers in any circumstances , for an example the company provide easy monthly installments {EMI} for the vehicles . As the current scenarios of the market I observed in the west Bengal is that, the customers don’t want invest on the new Vehicles as because the interest rate and the subsidy on the Vehicles are very high. So they are going for the used vehicles. Here the Rahul motor is playing a great role towards the Customers by financing the vehicles at low interest rate and Good offers. Rahul motors always segmented their customers in Different categories which makes the easy to deal with the Customers. The company can provide the product what the Customers for his/her use. Market research resulted that the Company have generated the maturity stage in the market and it seems the decline stage would not come for these company . MARKET SHARE OF THE COMPANY The total market share of the company is about 15% throughout West Bengal, which is being assumed by the company. After Analyzing the company annual report it has shown progress During the last years. Therefore the company has targeted more Profits in the coming year for the development. From the data provided by the company. A graphical (1. o) diagram Has been obtained and which made easy to make an Analysis of the total market share. MISSION OF THE COMPANY Every company has wish and goal which they always want to Fulfill. RAHUL GROUP OF COMPANIES have some target And also dreams which they want to achieve during the past Years some of the target of the company is as follows- ? The very first dream of the company is to get the no. position in the market. ? They want to spread their business in the different states of India. ? As they are expanding their business they are going to recruit employees for their companies. OBJECTIVE This study is done in keeping following objectives in view: ? To find out the present status of the automobile industries in India. ? To study the market research of automobile industries. ? To study the distribution and the marketing strategy adopt by the automotive industries. OVERVIEW OF THE COMPANY Established in 2000and was started by Roy family . It is a family Owned business , The Shareholders of the company are the Family members, ? Ranjit Roy ? Avijit Roy ? Indrajeet Roy They are the directors of the company . The mother business of The company is to buy the vehicles from the auctions ,For an Example they buy those vehicles whose installments cannot be Paid by the customers and generally the vehicles are taken by The insurance company or the vehicles which customers want To Sell they buy those cars also, For these work they have 100+ Employees all over west Bengal and their target is to recruit to more Than 500+ employees for the company within 2 years. They started with one company and within {2000}now they have groups of company which are as follows, ? RAHUL MOTORS Nature of business is to buy and sell auctions vehicles in the market, they generally sell the commercial vehicle like trucks. ? TANVI PARKING The actual motive of these company is to provide parking place to the private vehicles. ? RITISHA MOTOR GARAGE The garage provides all kinds of repairs to the customers vehicles by using the proper manpower and engineers for the vehicles . ? RAHUL MOTOR FINANCE This company is one of the oldest non-banking and financial services organizations in West Bengal. Through a globalize network linked by advance technology, including a rapidly growing e-commerce capability, Rahul Motors provides a comprehensive financial starting financing old and new vehicles. ? RAHUL RELCON PVT. LTD This is a new organization of RAHUL GROUP of companies. Rahul relcon is a construction company who builds apartments and flat for the customers. As it new company in the group, It need to face many competitors in the market. PRODUCT OF THE COMPANY A tangible object or intangible services that is mass produced or manufactured on a large scale with specific units. The product of Rahul motors is a tangible object as their product is the commercial vehicles for example car and trucks. They actually deal in the old and used vehicles for their business. The company does the hard job to get the vehicles . their main out sourcing is to get the vehicles from the auctions and the also the scraps vehicles, which they refurnished it once again and after that they get back to the customers. PRICE OF THE COMPANY The price is the amount a customer for the product. It is Determined by a number of factor including market share , Competitions, material cost etc. he business may increase or Decrease the price of product if other stores have the same Product. In the case of Rahul motors the price is the main factor for them they always provide the vehicles in a reasonable rate and even they provide financing options for the customers. Rahul motors always give their customers value for money and the company also help the customers several ways like free service and many more. PROMOTIONS OF THE COMPANY Promotions represent all of the communications that a marketer may use in the market place. Promotions has four distinct element which are as follows- ? ? ? ? Advertising Public relations Word of mouth Point of sale Rahul motors always follow all above the policy. The company does not invest in any advertisement as because it can make extra investments on the company . the main outsourcing of the company is the employees who communicates with the customers who are willing to buy and sale their vehicles. These system help the company to get directly to the customers. PLACE OF THE COMPANY Place represents the locations where a product can be Purchased. It is often referred to as the distribution channel It can include any physical store as well as virtual stores on the internet. The company generally deal in the Commercial vehicles so they have targeted the semi urban Areas of the state where they find maximum number of Customers for their product. REVIEW IN LITERATURE OF HUMAN RESOURCE Every business unit needs human resource (manpower) for the conduct of different business activities. In fact, no organisation can exist or operate efficiently without the support of human resource. Such human resource includes top level managers, executives, supervisors and other subordinate / lower level staff / employees. A business organisation has to estimate its future manpower needs and adjust its manpower planning and development programmes accordingly. This is called ‘staffing’ function of management. Human resource management is also described as personnel management or manpower management. According to Edwin Flippo, â€Å"Personnel Management is the planning, organizing , directing and controlling of the procurement, development, compensation, integration and maintenance of people for the purpose of contributing to organizational, individual and social goals†. Various areas such as recruitment and selection, wage payment and industrial l relations are covered under human resource management. Human Resource Development Human Resource Development (HRD) means to develop available manpower through suitable methods such as training, promotions, transfers and opportunities for career development. HRD programmes create a team of welltrained, efficient and capable managers and subordinates. Such team constitutes an important asset of an enterprise. One organisation is different from another mainly because of the people (employees) working therein. According to Peter F . Druker, â€Å"the prosperity, if not the survival of any business depends on the performance of its managers of tomorrow. † The human resource should be nurtured and used for the benefit of the organisation. Human resource is most important resource in management and needs to be used efficiently. This is because success, stability and growth of an organisation depend on its ability in acquiring, utilizing and developing the human resources for the benefit of the organisation. In the final analysis, it is the people (i. e employees) who produce promising results and generate a climate conductive to the growth and development of an organisation. HR is a highly productive corporate asset and the overall performance of companies and corporations depends upon the extent to which it is effectively developed and utilised. It is the most delicate factor of production and need not be treated merely as a commodity to be bought and used in factories. According to Peter Drucker, â€Å"The function of management is to manage managers, workers and work†. The importance of manpower in business management is now universally accepted. Employees have a capacity to grow and develop, if suitable opportunities are offered. They give positive response to monetary and nonmonetary incentives, training opportunities, favorable work environment and motivation. According to Pigors and Myers, â€Å"Good management means getting effective results with people†. This suggests the importance of human resource. Human resource is certainly important even in this age of extensive use of computer technology. This is because machine cannot be used as a substitute for human brain which has capacity to think, assess and react. It is correct to say that man is a power rather than man has a power. Progressive / professional managements invest huge funds on training and development of human resource and this suggests the importance of human resource and its contribution in industrial and economic development. Professionally managed companies in India such as Larsen and Toubro Ltd, TELCO, Reliance, etc. , give specia l importance and good attention to HRD. CHAPTER 1 HUMAN RESOURCE MANAGEMENT CHAPTER 2 MARKETING MIX BIBLIOGRAPHY ? MARKETING MANAGEMENT by Philip kotler ? MARKETING MANAGEMENT by pondicherry university WEBSITES ? www. google. com ? www. scribd. com ? www. wikepedia. co. in How to cite Marketing 4 Ps, Essay examples