Transcript
BASIC INFORMATION
Name of the company: - ELLORA TIMES LTD. [ORPAT]
Year of establishment:- 1991
Location :- Ellora Times Ltd. Orpat Industrial Estate, Rajkot highway Morbi. Guj. India.
Regi. Office & work :- Ellora Times Ltd. Orpat Industrial Estate Rajkot Highway Morbi – 363641 Gujarat [India]
Phone No. :- +91-2822-231444-45-46
Fax :- +91-2822-230125
E-mail add. :- marketing@orpatgroup.com
Web site. :- www.orpatgroup.com
Form of org. :- Pvt. Ltd. Co.
Size :- Large Scale Industry
Brand name :- ORPAT ELECTRONIC AJANTA QUARTZ REVA
Accounting year :- April to March
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Chair person :- Mr. Odhavajibhai Ravjibhai Patel
Bankers :- SBS Morbi – Industrial Branch
Weekly off :- Thursday
Labour Availability :- Local
No. of Employee :- 6000
International Market :- DubaiOffice
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VISION
Be one of the largest players in the electrical industry with total in house
production processes.
Become the highest employment provider in Gujarat by providing equal
employment opportunity for the upliftment of the needy people.
Remain pioneers in Quartz technology and manufacturing of calculators.
Harness the latest technology for simplification of processes and rapid
expansion.
Become India’s largest manufactures of the household electronic product.
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HISTORY AND DEVELOPMENT OF THE COMPANY
The history of the clock industry dates back to the time when man first decided to
restrict time by clock. The first clock that was invested used to run on the
principle of Sun Rise and Sun Set.
Thereafter Transistor Clock was invested which run on power of supply. After
Transistor Clock came the Mechanical or Winding Clocks which ran on a
mechanical spring and had to be winded periodically with the help of a key.
Quartz Technology was first developed by Taiwan and thereafter all the countries
started accepting this technology due to its various advantages over other
technologies. The basic advantages are low cost of production, higher degree of
efficiency, low maintenance cost, can be run on dry battery cell, accuracy etc.
At present there are a number of units producing Wall Clocks in India. One of the
major centers in India for producing wall clock is Morbi.
ORPAT Company was established in the year 1971. The chief promoter of the
company, Mr. Odhavjibhai R. Patel is a retired schoolteacher. ORPAT is a
partnership firm. It is situated at Morbi, Gujarat. With the initial investment of Rs.
1,80,000/- the company had started manufacturing pendulum Transistor Power
Clock. The initial production was of 15-20 pieces of wall clock per day. In the
year 1978, with the advent of striking winding clocks, the company adopted that
technology and stared making Striking Winding Clocks.
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In the year 1982, ORPAT started manufacturing Alarm Time Pieces. All these
clocks were manufactured up to year 1987. In the year 1988, Quartz Revolution
came into the world. In order to remain astride with the latest developments, the
companies then Chairman, Mr.O.R.Patel, went to Japan, Taiwan and Hong Kong
and brought the Quartz technology to India. In the year 1990, ORPAT WAS THE
FIRST Indian Company to have manufactured Musical Clock.
ORPAT group of companies have been housed having built up area of 15,00,000
sq.ft. The group is currently providing employment about 6000 workers ( 90% of
them are female employees).
Recently Ajanta starts its home appliances products and new established at
Kutch of tiles industry at the cost of 300 corers.
Their production capacity is increasing year by year like in
2001-2002 = 1,25,41,602
2002-2003 = 1,36,92,872
2003-2004 = 1,50,00,000
it has 300 whole sellers and 50,000 retailers. They have one of the best
distribution channels in the nation. The company is pioneer in India to undertake
in house C.O.B. technology, being ISO 9002 and CE certified company. It has
introduced innovative processes in the areas of inventory mgt. finance, marketing
and R&D. As a result of which the group’s dependency on working capital
assistance from commercial bank is virtually nil.
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ACHIVEMENTS
1. The year 1992 “MAN OF THE YEAR” award was felicitated upon Ajanta’s
chairman Mr. O.R. Patel under whose able guidance Ajanta has become
India’s largest time piece manufacturer and the recipient of export award for
outstanding exports performance every year since
1991-92.
2. Electronics and computer software exports promotion council award for
excellence in export performance choose the company for the recognition in
the year 1996-97 &1997-98.
3. Company’s managing director P.O.Patel was the recipient of the “TRADE
POST MAN OF THE YEAR” award for acknowledging Ajanta’s achievement
of electronics consumer goods and India’s leading quartz alarm clock despite
free imports and Chinese challenge.
4. The recently concluded volumetric production analysis gives and indication of
the company’s capacities. The company has achieved a world record of
manufacturing 1,36,92,872 clock during 2002-03.
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AWARDS
AWARDS PRESENTED BY
YEAR FOR
Gujarat sate exp. 1991-92 Best Export
Esc 1991-92 Highest Export Performance
Esc 1992-93 Highest Growth in exports consumer elect.
State bank of Saurashtra 1993-94 For excellent performance in exports
Department of electronic 1994-95 Second price for exports
(Govt. of India)
Esc 1994-95 Outstanding Exports
Esc 1995-96 Best Exports
Esc 1996-97 Award for excellence in export for
Establishing India brand in foreign
Markets
National export award 1997-98 Outstanding Exports
(Govt. of India)
Esc 1997-98 Best export sector award
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DETAIL OF PROMOTERS
MR. ODHVJIBHAI RAVJIBHAI. PATEL(Chairman, popularly known as O.R. Patel)
D.O.B: 24-6-1925
Education: Bsc. , Bed.
Awards: Man of the year 1993 [Horological field]
Highest exporter of electronics consumer
Goods for 1991-92
History: Basically a science teacher in V.C. Technical
High School, Morbi. He also looks after Cloth
Shops, Oil Engines, manufacturing of mechanical
clocks were established by him. Over a period of
28 years, he has been able to make it ORPAT quartz.
Sugar, Roofing Tile and Pharmaceuticals are the
additional areas in which Shri. O.R. Patel has
Provided the leadership to the group.
Awards: Man of the year 1993 (Horological Field)
Highest exporter of Electronics Consumer
Good for 1991-92.
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MR. PRAVEENBHAI ODHAVJIBHAI PATEL(Managing Director)
Name: Shri. P.O.Patel
D.O.B. 27-12-1953
Education: B.E. Mechanical
History: Joined watch clock manufacturing activity in
1971 to support his father Mr. O.R. Patel and
since then he is actively engaged in all the
Ventures started by the group. His expertise
In production-sales-quality control-finance and
Public relation has enriched the group. He has
Traveled around the world for the market and
Know how it is only due to his dedication and
Efforts that ORPAT industrial estate is having a
Status of world class manufacturing out look.
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MR. JAYSUKHBHAI ODHAVJIBHAI PATEL( Director )
Name: Shri. J.O.Patel
D.O.B.: 2-4-1959
Education: B.Com
History: 5 year in Sugar manufacturing unit. His
Efficiency has completed the entire construction,
Lay out, planning and interior designing of
ORPAT industrial estate with in the record
period of 12 months.
He is looking after development of international
market for ORPAT’s products. He has visited
30 countries to develop personal contacts with
foreign buyers and suppliers. He is actively
Engaged for diversification and expansion can
modernization of ORPAT’s activities.
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MR. ASHOKBHAI ODHAVJIBHAI PATEL(partner)
Name: Shri. A.O.Patel
D.O.B.: 4-7-1965
Education: Doctor in Naturopathy
History:
All India sales depot of Ajanta are functioning under him
140 service stations spread all over the country is operating successfully.
Look after all Advertising & customer related activities.
He is also looking after market research and development affairs of the group.
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CURRENT SCENARIO
The latest position of orpat is that it is the world’s largest clock manufacturer in
the form of quality wise.
In current scenario they have 80% of total market in India and have appx. 30%
to 40% market share in foreign countries.
Now they producing:
100 different models of wall clocks.
40 different models of timepiece.
30 different models of telephone.
30 different models of calculators.
3 different models of educational toys.
They are having 140 wholesale department and 2500 retail outsets. Their install
capacity are 25,000 calculators per day, 25,000 Timepiece per day, 10,000
telephone per day, 2000 toys per day, 12000 electronical accessory home
appliance-10, 000 per day.
The company is also trying to increase the domestic market share and also
export market share.
Orpat industrial state has a built up area of 6,00,000 sq.ft., with over all carpet
area is 15,00,000 sq.ft. The company is currently providing employment to about
6000 out of 95% is female employee.
The company is the first in India to undertake in house I.C.chip Bonding. The
company has already installed essential machineries, such as wafer saving
machine, quartz watch analyer, automatic coil winder machine, ultrasonic wire
bonders, CNC plastic injuction molding machine, mould/Dies, jigs and full-fidget
workshop for in house mould manufacturing. ORPAT Company enjoys a
prominent base in the market of various countries of East, Europe, Africa and
Asia.
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TIME KEEPING SYSTEM
It is compulsory matter for each and every company to assign certain time for
certain employee. According to the rule of govt. any unit can’t take work more
than 8 hours from the workers. This is beneficial for unit and workers also.
Beneficial for the unit because it is easy to calculate the wage of worker on the
time or hour basis and beneficial for employee because it gives protection
against their exploitation.
ORPAT has resister book system that every workers has record his or her name
and time when they are come in and go out of the unit. Their shift arrangements
are as follows.
Morning shift:- 7:30 a.m. to 12:00 p.m.
Afternoon shift: - 12:30 p.m. to 6:30 p.m.
Night shift: - 6:30 p.m. to 7:30 p.m.
Actually only ladies workers work in morning and afternoon shift, for night shift
male workers are appointed.
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PRODUCT OF COMPANY
In Ellora Times LTD there are main four product lines i.e. regular products, home
appliance, tiles, CFL products.
But in each main product there are many other sub products which are as
follows.
1) Regular Product:
Telephone
Calculators
Clocks
2) Home Appliances:
Sandwich toasters Electric deep fryer
Electric kettle Hair dryer
Ice shaver Multi utility stand
Water filter Water purifier
Edu. Toys Synthesizer piano
Mixer Grinder Hand blender
Hand mixer Emergency light
Dry iron Steam spray iron
Pedestal fan Table fan
Room heater Health scale
Juice extractor Oven toaster griller
Water dispenser (Hot & Cold)
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3) Tiles:
It is new establishing division of Ellora Times LTD at Kutch.
4) CFL:
It is different by its watt capacity i.e.
5 watts 8 watts
11 watts 14 watts
18 watts 23 watts
26 watts 30 watts
36 watts
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PRODUCTION CHART
Production department
Production manager
Assistant Production Manager
Moulding Glass Cutting Assembling Dept. Electron Dept. Dept. Dept.
Supervisor Supervisor Supervisor Supervisor
Workers Workers Workers Workers
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PROCESS OF PRODUCTION
The process of manufacturing all products is different but generally following
processes are common and other specific procedure is given this common
process.
Process for clocks, telephone, calculator.
First of all we can understand briefly production process by following chart.
Injection moulding Department
Cabinet Cutting Department
Buff and cleaning Department
Hat Stampling Department
Hat Stampling Department
Glass Cutting Department
Electric Department
I.C. Boarding Department
Assembling Department
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FINANCE DEPARTMENT
Finance is the most important for the business because finance is the lifeblood of
any organization. Without finance we cannot run our effectively.
The efficiency of production and marketing operations is directly influenced by
the finance function of the enterprise. The finance department assumes an
important role in the business system and it should be equal important, as with
production and marketing function.
Finance is required not only at the time of establishment, but also at the time of
expansion, modernization, diversification, and replacement of assets. Every
company should be able to manage its finance efficiency and then only a
company can prosper.
The finance department in Orpat has a very good communication and
relationship with ass the other department and it performs its function in the most
suitable way with an eye on future planning. It commands the flow of cash and
funds properly and it is the efforts of this department that the firm has a high
reserve for future as a safety measure.
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ORGANIZATION OF FINANCE DEPARTMENT
M.D.
Administration department
Administration manager
Assistant Admi. Manager
Account Department Finance Department
Account Manager Finance Manager
Assistant Acco. Assistant finance
Manager Manager
Clerk Financial Analyst
Peon Executives
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CAPITAL STRUCTURE
Capital structure refers the long-term sources of fund, such as debenture, long-
term debt, preference share capital and equity share capital structure including
reserves and surplus. With unplanned capital structure can be simply defined as
combination of various sources of finance at different proportion to finance the
investment of company. Consequently it is being increasingly realized that a
company should plan its capital structure to maximize the use of the fund and to
be able to adopt more easily to be charging conditions.
Particular As on 2005 As on 2004
Share Capital 5,00,00,000 5,00,00,000
Reserve &surplus 1,47,30,66,408 1,38,08,14,711
Secured Loans 10,65,73,125 9,22,17,830
Unsecured Loans 1,29,26,778 NIL
Total 1,64,25,66,311 1,52,30,32,541
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BALANCE SHEET
Particular As on 31-3-05 As on 31-3-04
Sources of Fund
Share holder Funds: -
Share capital 50000000 50000000
Reserve & surplus 1473066408 1380814711
Loan Funds: -
Secured Loans 106573125 92217830
Unsecured Loans 12926778 NIL
Total 1642566311 1523032541
Application of Fund
Fixed Assets: -
Gross block 1775400995 1774113052
- Less: depreciation 1232708274 1082678072
Net block 542692721 691434980
+ Add: Work in progress 34081374 21321782
Net fixed assets 576774095 712756762
Investments: - 350000000 122000000
Current Assets, loan & Adv.
Inventories 524337348 431412355
Sundry debtors 157843566 143835884
Cash & Bank balance 27875262 88331544
Loans & advances 386769806 3889377730
-Current liabilities
&provision
381045766 364265777
Net current assets 715780216 688251779
Miscellaneous Expenditures 12000 24000
Total 1642566311 1523032541
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RATIO ANALYSIS
Ratio analysis is widely used tool of financial analysis. It is designed as the
systematic use of ratio to interpret the financial statement. So that the strength
and weakness of a firm as well as its historical performance can be know. The
term ratios means relationship between two figures or enables. It enables the
analysis to draw conclusions regarding financial position.
Current Ratio
Quick Ratio
Acid-test Ratio
Net working Capital
Gross profit Ratio
Net profit Ratio
Return on cap. Employee
Assets turnover Ratio
Debt equity Ratio
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CURRENT RATIO
Current Ratio = Current assets Current Liabilities
Current Assets
Year 2004-05 Year 2003-04
Inventories 524337348 431412355
Sundry debtors 157843566 143835884
Cash & bank 27875262 88331544
Loan and Advances 386769806 388937773
Total 1096825982 1052517556
Current Liabilities
Year 2005-04 Year 2004-03
381045766 364265777
For 2005-04
Current Ratio = 1096825982 381045766 = 2.878
For 2004-03
Current Ratio = 1052517556364265777 = 2.815
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LIQUID RATIO OR QUICK RATIO
Liquid Ratio = Current assets - InventoriesCurrent Liabilities
For 2004-05 = 1096825982 - 524337348 381045766 = 1.50
For 2003-04 = 1052517556 - 431412355 364265777 = 1.705
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ACID – TEST RATIO
Acid-test Ratio = Quick assets Liquid liabilities
Quick assets = Cash + Bank + Easily marketable securities
For 2004-05 = 414645068
381045766 = 1.088
For 2003-04 = 477269317 364265777 = 1.310
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NET WORKING CAPITAL
Net working capital = Current Assets – Current Liabilities
For 2004-05
= 1096825982 – 381045766
= 715780216
For 2003-04
= 1052517556 – 364865777 = 688251779
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GROSS PROFIT RATIO
Gross profit Ratio = Gross Profit * 100 Sales
Year 2004-05 = 404501651 *100
1327849677 = 30.46%
Year 2003-04 = 555494915 *100
17273223318
= 32.16%
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NET PROFIT RATIO
Net profit Ratio = Net profit *100Sales
Year 2004-05 = 922923122 *100 1327849677
= 69.50%
Year 2003-04 = 899309707 *100 1727322318
= 52.063%
RETURN ON CAPITAL EMPLOYED
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Return on cap employed = Net profit before intrest & tax
Sh. Cap + reserve
Year 2004-05 = 50078416 *100 1523066408
= 3.287%
Year 2003-04 = 106735026 *100 1430814711
= 7.46%
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ASSETS TURNOVER RATIO
Assets Turnover Ratio = Sales Total assets
Year 2004-05 = 1327849677 1642554311
= 0.808
Year 2003-04 = 1727322318 1523008541
= 1.134
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DEBT EQUITY RATIO
Debt Equity Ratio = Debt Equity
Debt = Loan & Fund
Equity = Share capital + Share capital suspense + Reserve & surplus
For 2004-05 = 119499903
1523066408
= 0.078
For 2003-04 = 92217830 1430814711
= 0.064
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MANAGEMENT OF WORKING CAPITAL & FIXED ASSETS
MANAGEMENT OF WORKING CAPITAL:
Working capital plays an important role in any organization. The management of
working capital is done in such a way that the firm does not faces financial crises
because the scarcity of finance will create disturbance in the working unit.
Working capital management is concerned with the problems that aries in
attempting to manage current assets, current liabilities and interrelationship that
exists between them. The goal of working capital management is to manage the
firm’s current assets and liabilities in such a way that a satisfactory level of
working capital is maintain. For the working capital this unit has taken credit
facilities as per its requirement but it is utilized in rare case.
MANAGEMENT OF FIXED ASSETS:
Fixed assets management includes management of land, building, plant, and
machinery etc. the volume of fixed assets plays a very important role in
company’s financial position. Fixed assets are the permanent investment done
by the company. The capital invested in fixed assets incurs a fixed cost for the
goods produced. Therefore if fixed assets can be minimized and quality of
production can maximized the company would go on strengthening.
There is risk in the fixed asset because of its long life. It can be divided into two
parts that are tangible assets – building, plant, machinery etc. and intangible
assets – goodwill, patents etc.
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INTRODUCTION OF MARKETING
The marketing philosophy of business assumes that an organization can best
serve and prosper by identifying and satisfying the need of its customers.
Marketing is essentially about marshalling the resources of an organization so
that they meet the changing need of customers on whom the organization
depends. Customer’s needs are the starting – point for all marketing activity.
Marketing managers try to identify these needs and develop products, which will
satisfy customer’s requirements efficiently. As a business philosophy, marketing
puts customers at the center of all the organization’s consideration.
Marketing is so basic that it cannot be considered as separated function. It is the
whole business seen from the point of view of its final result, which is from the
customer’s point of views,
“ Marketing is the process of planning and executing the conception pricing,
promotion and distribution of ideas, goods, and services to create exhanges that
satisfy individuals and organization goal”
Marketing occupies an important position in the organization of business unit,
traditional view of marketing states that customers will accept whatever product
the seller presents to him. In this way main concern of the choice or the
behaviors of marketing has now changed. The modern concept may be viewed
from the customer’s point of view. Producer does not produce whatever he likes
but whatever consumer wants. Marketing deals with identifying and meeting
human and social needs. One of the shortest definitions of marketing is
“marketing need profitability”.
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Ellora Time Ltd. Produces consumer goods, they are directly related with
consumers. Here marketing is of great important because in today’s era
consumers are king of the market. In case of Ellora Time Ltd. But also captures
international market. The company’s main products are Clock, Calculators,
Telephone, Timepieces, Home Appliance and Educational Toys are said to the
most qualitative product at the reasonable price so customers favor these
products. There is great demand for the Ellora Time Ltd’s products. Consumer
is the center point and customer satisfaction is given prior important. Ellora Time
Ltd. is given more and separate attention because it produces consumer goods,
so it is directly with the consumers having complex nature. So with the
increasing competition it has become crucial part in today’s organization.
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MARKETING STRATEGIES
ORPAT believes in attractive strategy. Orpat adopted low price strategy and
target middle class households that are large segment. The reason behind that
middle class households are price conscious. They preferred less price and
medium quality. Initial purchase price is very important for them not long lasting
features at premium.
ORPAT brand is available at every place. Orpat appointed its sales and service
centers in major towns and cities across the all India. Its product distributed by
its scales depot in different relational areas.
ORPAT also introduced concept of exclusive showroom. It combines al its
product rang from small time piece clocks, calculators, telephone and home
appliance at one place. Its showroom presently runs at Morbi, Rajkot, Surat,
Baroda and A’bad, and Mumbai.
The other important thing is that they do not spread large sum on advertising but
give good margin to retailers/ dealers, so that retailers would try to push ORPAT
brand at the POP.
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STRUCTURE OF MARKETING DEPARTMENT
Chairman
C.E.O
National Marketing Manager
Zonal Manager Zonal Manager (N + E) (S + W)
Area Sales Manager Area Sales Manager
Sales Executives Sales Executives
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MARKETING MIX
Marketing use numerous tools to elicit desired responses from their target
market. These tools constitute a Marketing Mix.
Marketing Mix is the set of marketing tools that the firm uses to pursue its
marketing objectives in the target market.
PRODUCT PLACEProduct variety ChannelsQuality CoverageDesign AssortmentsFeatures LocationsBrand name InventoryPackaging TransportSizesServicesWarrantiesReturn
MARKETING MIX
PRICE PROMOTIONList price Sales PromotionDiscount AdvertisingAllowances Sales forcePayment Period Public RelationsCredit Terms Direct Marketing
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1. PRODUCT MIX
Product is the pivot around which all the marketing activity revolves. People
satisfy their needs and wants with products. Products can be defined broadly to
cover anything that can be offered to some one to satisfy a need of want. The
term product is used to cover the physical products, service products and other
vehicles that are capable of delivering satisfaction of a want or need.
The products of ORPAT are clocks, calculators, and electronic items. The
product of Orpat is made keeping in mind a particular class of people who belong
to middle class and upper middle class, who cannot affords a costly clock.
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PRODUCT RANGE
With the dedication, commitment and hard work the company as a team is
climbing the ladder of success and at present the company has a wide range of
products in different segments.
Clocks:
Musical Pendulum clocks
Musical clocks
Wooden clocks
Office clocks
Simple clocks
Alarm clocks
Dual tone clocks
Telephones:
Basic phone
Featured phone
LCD display phone
Advanced featured phone
Caller ID phones
Telephone stand
Calculators:
Basic calculators
Check & correct calculators
Scientific calculators
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Educational toys:
Home Appliance:
Irons
Emergency light
Penlight torch
Room heater
Sandwich toaster
Pop up toaster
Deep fryer
Mixer grinder
Hand blender
Kettle
Hand mixer
Ice shaver
Hair dryer
Table fan
Pedestal fan
Wall mounting fan
Air cooler
Water sterilizer
Water purifier
Water filter
Water dispenser
Pump and glass stand
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637
41
FX-350TLOT-900
OST-1117
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A. Product Variety:
Product variety includes the types of products, which a company produces. Until
the year 1993, the product variety of Orpat included only wall clocks. But in the
year 1994 the company has included Electronic calculators to its product range.
After the period of 1994 company launch Home appliances items and
Educational toys. In 2003 company launch a new product CFL (Energy Saving
Lamp).
It has around 100 models of Wall Clocks, 40 models of Time Piece, and 25
models of telephones, 35 models of calculators and 3 models of Educational
Toys has to different sizes. All products Ellora Times Ltd have provided different
variety of each products and different to other products. It has models of all
classes of society.
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B. Quality:
Quality is important feature of a product and buyers make choices between
completing product on the basis of the ratio of quality to price. Quality is an
extremely difficult concept to define in a few words. At its most basic, quality has
been defined as conforming to requirements. This implies that organization must
establish requirements and specifications and the quality refers to that physical
object or the intangible service for which the ultimate consumers is paying in
terms of money or other or services.
Quality would only mean the durability of the product. But quality also includes
other features like service it renders, the satisfaction it gives, the efficiency of the
product and many more features which keeps on changing from consumer to
consumer depending on the need of the consumer and the use to which the
product is put.
Ellora Time Ltd gives first preference to quality because it wants to establish an
image in the market. In spite of its lower price Ellora Time Ltd does not
compromise on quality. Compared to other brands Ellora Time Ltd has gained
wide spread popularity mainly because its price is low and its quality is good.
The company is ISO 9001:9002 and CE certified company and has a multi stage
quality control from the Raw Material to the finished product to provide 0% defect
products to the ultimate consumer.
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C. Design:
Design reflect the outlook and features of the product. Various aspects of
product are to be kept in mind while designing a product, the are product
differentiation, features, characteristics, performance, conformance, durability,
reliability, responsibility, style, etc.
At Orpat a special designing team is engaged whose primary job is to
formulate new designs for wall clock and electronic iteams. On an average
this designing team design around 20-24 models every year with an average
of around 2-3 models per month.
At present Ellora Times Ltd company produce various designs which are
indigenously designs by the company.
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Wall Clock
PRODUCT NO OF DESIGNWall clock
1. Musical pendulum clocks 20
2. Musical clocks 10
3. Wooden clocks 07
4. Office clocks 06
5. Simple clocks 57
TOTAL NO OF MODELS 100
Alarm Timepieces
PRODUCT NO OF DESIGN1. Wooden Alarm 07
2. Plastic Alarm 33
TOTAL NO OF MODELS 40
Telephone
PRODUCT NO OF DESIGN1. Basic telephone 08
2. Featured telephone 06
3. LCD telephone 05
4. Advance Featured 06
TOTAL NO OF MODELS 25
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Calculator
PRODUCT NO OF DESIGN1. Basic calculators 12
2. Check & Correct Calculators 14
3. Scientific Calculators 04
TOTAL NO OF MODELS 30
Home Appliance
PRODUCT NO OF DESIGN1. Irons 07
2. Light product 05
3. Toasters and Fryer 06
4. Kitchen Product 05
5. Hair product 06
6. Air product 08
7. Water product 09
TOTAL NO OF MODELS 46
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D. Brand Name:
Brand name refers to that name through which the products of that company
are recognized. Brand name can be a name, term, sigh, symbol or design or
a combination of them, intended to identify the goods or services of one seller
or a group of seller and to differentiate them from those of competitors.
There are several advantages of having brand name. The brand name
makes it easier for the sellers to process orders and track down problems
secondly. The seller’s brand name and trademark provide legal protection of
unique product. Branding gives the sellers the opportunity to attract a loyal
and profitable set of customers. Branding help the sale segment the market.
Good brands help build the corporate image.
BRAND NAME
1. AJANTA QUARTZ
2. ORPAT ELECTRONICS
3. REWA
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LOGO OF ELLORA TIMES LTD
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E. Packaging:
Packaging can be defined as the activities of designing and producing the
container or wrapper for a product. The container or wrapper called the
package. Almost all physical products going to the market are packaged and
labeled. Packaging plays a major role in case of expensive product and also
in cases when the product is delicate and has a high percentage of breakage.
Packaging is the fifth “P“ of marketing mix along with product, price, place
and promotion.
Packages have become a potential marketing tool. Well-designed packages
can create convenience value for the consumer and promotional value for the
producers. Consumers are willing to pay a little more for the convenience,
appearance, dependability and prestige of contributes to instant recognition of
the company or brand. Innovative packaging can bring large benefits to
consumer and profits to procurer. The packaging is another important
component of the product personally especially in consumer products. The
package performs two essential roles first, is giving protection to the product
and second, in the promotion of the product. Developing and effective
package for a new product is not an easy task. It requires several decisions
like establishing the packaging elements like size, shape, materials, colors,
text, brand mark, etc.
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F. Size:
Size refers to the magnitude of the product. The importance of size differs
from product to product. Satisfying the consumer would mean reducing the
price or increasing the size or improving the quality. Size has a psychological
effect on the consumers, where as quality is an intangible.
The size of clocks and electronic items of Ellora Times Ltd. differs from every
model. If the design is such that a small size enhances the design, then the
size is kept small. Ellora Times Ltd provides large, medium, small size of
wall clock and Time pieces. In clocks depending on the use for which the
clocks are meant E.g. kitchen, home, office, institution etc. in Calculator they
have to provide pocket calculator, Hand hold economic calculator and Desk
top calculator. And Big, small, very small sizes are available in Telephone.
Ellora Times Ltd provides three different size Educational Toys. And various
in Home Appliance products.
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G. SEVICES
Services are activities, benefits or satisfaction that is offered after sale. In
other words, a services is any act or performance that one can offer to
another that is essentially intangible and does not result in the ownership of
anything. Manufactures of equipments, small appliance, office machine, etc.
mist provide a service bundle to their customers. Firms that provide high
quality service undoubtfully outperform their less service-oriented
competitors. There are various alternatives of offering after sales service,
e.g. the manufactures could provide these services or the manufactures could
make arrangement with distributors and dealers to provide these service or
the manufactures could leave it to independent services specialist firms to
provide these services or the manufactures could leave it to its customers to
service their own equipment. Thus the consumer’s durable market is highly
competitive in term of after sales services.
From the product point of view, the higher the period after sales service,
higher will be the sale. From customer’s point of view, after sales service will
increase the durability of the product.
In “Orpat” after sales service is provided during the guarantee period. The
guarantee period is of one year, during one year if any problem arise e.g.
movement is not working properly, music of the clocks are not working will be
replaced without any cost. If any damage is occurred after the guarantee
period then company will take normal charge.
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Fro the better service to the customer company has stated his own showroom
in Morbi, Rajkot, Baroda and Mumbai and 300 sales depo and service station
where any Orpat product can also be required.
H. DEALERS OF COMPANY IN INDIA
ANDRAPRADSH : Hydrabad, Vijaywada, Kurnool.
MAHARSHTRA : Mumbai, Puna, Nagpur, Nasik
J & K : Jmmu
HARIYANA : Amblacanti, Puprola
MAGHALAY : Shillong
DELHI : Delhi
BIHAR : Ranchi, Patna
KARNATAKA : Banglore, Humbli
ORRISSA : Bhuneshwar, Cuttack
M.P. : Jabalpur, Raipur, Bhopal
GUJARAT : Ahemedabad, Anand, Baroda, Rjkot, Morvi,
Surat.
TAMILNADU : Coimbatur, Madurai, Chennai
PANJAB : Jallandhar, Ludhiyana
U.P. : Allahabad, Ghajiabad, Kanpur, Lacjnow
GOA : Goa
WEST BENGAL : Calcutta, Kharagpur
RAHASTHAN : Jodhpur, Jaipur
KERALA : Calicutt, Trivendrum
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I. RETURNS
Returns are the total benefits available to the company both tangible and
intangible. Return may be on the total capital invested, on the sales
promotion activates, or on any factor. Whatever be the factor on which
returns are derived. They are always beneficial to the company. Returns are
the only factors for which all the activities of production and distribution are
carried out.
Ellora Time Ltd Company gets substantial returns on all factors. It gets a
substantial amount of profit every year. Out of the total investment of 67
crores, it has an annual turnover of Rs. 200 crores. Moreover Ellora Time Ltd
is leader in the wall clocks not only in India but also in international market.
Ellora Time Ltd is leader in the Wall Clock market with having a 70% market
share. So its return on sales promotion activates has made it the leader of
Wall Clock industry.
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2. PLACE MIX:
Place is another key marketing tool and stands for various activities which the
company undertakes to make the product easily accessible and available to
the target customers. Place mix is also called distribution mix and available
to the target customers. Place mix is also called distribution mix and
constitutes of all those activities, which are necessary for the physical
distribution of goods and services. Place is second marketing tool and
important for all types of business. It is a stand where all activities of the
business are done. To satisfy the consumer needs in today’s economy the
producer and consumer are separated by vast distance, so it is necessary to
fill this gap. To supply the product to targeted customers company must take
help of distribution channel.
Place mix is also called as distribution mix. It refers to the selection of a mix of
different types of distribution channel for transmitting the goods from producer
to consumer. Selection of distribution channel is also very critical decision.
Location decision is also considered in place mix. Location decides the other
decision of place mix. Location also plays a critical role. For a retailer,
location plays a pivotal role as a good retailer locates his retail counter in a
place where there is no demand for the product. Then it would ultimately lead
to the closure of the outlet. The physical distribution is the most important
factor or element of place mix. It is through physical distribution only that the
product reaches its ultimate consumer. Transportation, warehousing and
inventory also form a part of the place mix.
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A. CHANNEL OF DISTRIBUTION
Marketing channel decision are among the most critical decision facing
management. The company’s chosen channels intimately affect all the other
marketing decisions. The company’s pricing policy also depends on the channel
of distribution selected. The firm’s sales force and advertising decisions depend
on how much training and motivation the dealer needs. In addition, the
company’s channels of distribution indicate route or pathways through which
goods and services flow or more from producer to consumers. Thus, distribution
channels can be defined as main part of institutions participating in the marketing
activities involved in the movement or the flow or goods services from the
primary producer to the ultimate consumer.
In general sense distribution channel means a way through which goods flow
from the producer. “Any sequence of institution from the producer to the including
one or any number of distribution is to supply the goods to ultimate customers.
Distribution channel include producer, wholesaler, retailer and consumer. It is
considered as important element of marketing mix.
Ellora Time Ltd company has a relatively simple channel of distribution. The
company has selected its channel in such a way that the marketing
intermediaries, namely, distributors earn a substantial profit and at the same time
company frees itself from the burden of dealing with the retailer. Ellora Time Ltd
company’s distribution network currently includes around 300 wholesalers and
around 50,000 retailers dotting in the country. The company has one of the best
distribution networks in the nation.
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Ellora Times Ltd company has appointed distribution in each region og the
country as well as in other countries. These distributors in turn selected and
appointed retailers who sale their product to the ultimate customer. The channel
of distribution of Ellora Time Ltd’s are:
ELLORA TIME LTD
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INTER NATIONAL MARKET
NATIONAL MARKET
Manufacturing Sales officer
Wholesaler Wholesaler
Retailer Consumer
Consumer
AUTHORIZED SERVICES CENTERS IN INDIA
NAME OF THE STATE NO. OF AUTHORIZED SERVICE CENTER
1. Andhra Pradesh 11
2. Assam 07
3. Bihar 07
4. Goa 02
5. Gujarat 08
6. Haryana 03
7. Himachal Pradesh 02
8. Karnataka 05
9. Kerala 06
10. Madhya Pradesh 06
11. Maharastra 18
12. New Delhi 04
13. Orissa 04
14. Punjab 05
15. Chandigarh 02
16. Jammu & Kashmir 02
17. Rajasthan 03
18. Tamilnadu 09
19. Utyar Pradesh 10
20. West Bengal 11
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B. COVERAGE
The term ‘coverage’ refers to the spread of the areas of the company’s product.
The coverage of the market depends upon distribution policy of the company.
The company initially wishes to cover that area; it may wish to expand its
horizon. On the other hand, some companies prefer to cover a large market at
the same time so that there is a saving of distribution cost. The coverage of the
company may be wide or limited, but all the same, the company has to spend a
substantial amount on distribution expenses vary. But once a channel of
distribution is firmly established, the going is smooth.
Ellora Time Ltd Company covers a vast area, which includes the whole of India,
and many other countries of the Middle East, South Africa and Asia. Today
Ellora Time Ltd products enjoys prominent place in more than 45 counties. In
spite of this vast coverage, the company can easily manage its manage its
distribution channel because it has only to cover its distributors in terms of
supply.
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C. INTERNATIONAL MARKET
Because of globalization and liberalization, the world has become small. Now a
day, the area of business is not limited up to the boundaries of the country but it
expands all over the world. There are many companies of India whose business
is spreaded in the world. International marketing refers to buying and selling
activities beyond the country; this unit has very wide export market in the world.
In the export market, the critical factor in national’s economy Ellora Time Ltd has
been leading in performance out of total quantity manufacture every year nearly
15% being exported pieces is the Azaan Alarm Clock that is programmed to ring
the Namaaz prayer-an enormously successful product in the Muslim Countries.
A matter of price is Ellora Time Ltd’s top ranking performance in export of Alarm
Clocks in the higher end of trendy and quality conscious Assam, Africa, Europe
and Middle East markets, India’s largest export of clock. Ellora Time Ltd exports
45 countries to its product and received export performance awards. It has won
the ESC Award for the highest export in the field of electronics by the Ministry of
Communication and Information Technology (Govt. of India) for consecutive 10
years. Ellora Time Ltd company’s international office in Dubai and manage the
45 countries network of international market.
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D. TRANSPORTATION
Orpat uses different means of transport depending on the distance and the
speed. Whenever the company sends export consignments to various
countries of the Middle East, South Africa, Europe. Etc. it is always from the
Kandla port and it uses ship as it mean of transport. This is water transport.
While supplying the clocks to domestic distributors, the company prefers road
transport because it is faster and it offers unlimited geographical location,
which can be served easily. Orpat has its own trucks for transportation and
for employees they have own buses to transport.
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3. PRICE MIX
Price is the only element of marketing mix that produces revenue. The other
entire element like product, place and promotion produce cost. Pricing and
price competition is the no. 1 problem facing the marketing executives. Price
is the value given up, consumers may purchase a substitute product is not
worth the value given up; consumer may purchase a substitute product or
decide not to purchase the product at all. Consumers exchange something of
value, normally buying power, for the satisfaction or ability they expect from.
Organization can adjust prices much more easily than they can modify the
product change, the promotional program or redesign the distribution
systems. Price as a the marketing mix distribution efforts require expenditure
by a firm. The price of a product determines how much money comes into an
organization. Thus, price affects an organizations profit, which is vital for
long-term survival.
In spite of the high degree of importance given to price mix and the fact that
price mix is the only revenue-earning element, most companies do not handle
pricing well. The most common mistakes are made when price is considered
to be cost oriented, price neither is nor revised often enough to capitalize on
market changes. Price is set independent of the rest of the marketing mix
rather than as an intrinsic element of market positioning strategy and price is
not varied enough for different product items and market segments.
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Price is a value of goods. From customers point of view it is revenue-pricing
decision, which is considered very critical decision because it declared the
sailing volume, profit and image of the firm. While deciding price all factors
are considered that affects the produce as well as consumer. The factors
may be economical, social, potential and other factors. Thus, a major part of
success of business depends on its price, how consciously the price of a
product is decided. Price mix is the important part of the marketing mix. It
determines company’s market share profitability. Price is critical marketing
mix tool and is the amount of money that customers have to pay for the
product.
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A. PRICING OBJECTIVES
Pricing objectives is a general goal that describes what an organization hopes to
achieve through its pricing activities. Pricing objectives should be measurable so
that they can be evaluated. Since they effect decision in other fictional areas,
such as finance and production, they must be consisyent with the organizational
mission and objectives. The company can pursue any of the six major objectives
through its pricing. These objectives can be in term of survival in the market,
maximum current profit, maximum current revenues, maximum sales growth, and
maximum market skimming and product quality leadership.
The pricing policy of Ellora Time Ltd company is formulated keeping in mind the
fact that majority of Ellora Times Ltd’s consumers belong to upper middle class
and middle class. Therefore, the pricing policy is formulated in such a way that it
is affordable by all classes of people and is not a burden on their income. The
main aim of the company while setting price objective is to maximize sales
growth and current revenue by keeping the cost as low as possible, in turn
increasing both sales and market share. At the end of the financial year, the top
management of the company sits together and formulates all policies of the
company, including the pricing policy. The pricing policy is formulated keeping in
mind the estimated sales, estimated revenue, estimated profit, estimated annual
turnover, etc. all these figures are calculated on the basis of past performance
and future estimated sales.
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B. PRICING DECISION
Pricing is a very critical decision in marketing management. The main objective
of the firm, that is to earn profit depends upon the correct price decision. After
meeting all the cost involved, the sales revenue generated must yield a surplus
before there can be profit. The sales revenue figure is however materially
affected by the price changed for the product. “Price is the only element in the
marketing might create sales revenue; the other elements are costs”. What price
should be charged for a product is a crucial question. Several factors-economic,
social, political and other factors influence the pricing decisions. Moreover
marketing condition i.e. position of company or company product in the market or
competitive situation affest the pricing decisions.
Now a day’s Ellora Time Ltd Company is trying to create image. So its basic aim
is to earn profit but main aim is to establish the product. Ellora Time Ltd has
following pricing decision.
1) Market Penetration
2) Product quality leadership
3) To cover the cost
Ellora Time Ltd decides price of their products depend on market monopoly, cost
of raw material, government policy, distribution margin and most important thing
is their comparison to their competitor. All include these factors then they has to
take price decision.
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C. PRICING METHOD
After deciding pricing decision, the next function is to set up price. This is a very
important and difficult task because many factors affects while deciding a price.
Two main factors helpful in deciding price are competitor’s price and cost
element. A part from these two customer’s purchasing is also considered.
So far as Ellora Time Ltd has concerned it has selected the traditional method
known as cost plus pricing to determine the prices of its products. It is widely
used by business organization. So here, company determines the prices by
adding cost and predetermined percentage of profit. This method includes
various costs like material cost; labor cost, overhead expenses, sales tax etc.
and 8 to 10 % margin of profit. This percentage may change year after year.
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D. PRICE LIST
Any company, which adopts the Dealer- Retailer Channel of distribution, has to
be very careful while formulating its pricing objective and pricing policies. These
companies have to print and circulate price lists periodically in order to make the
dealers, retailer and consumer aware of the price. Also the Maximum Retail
price at which the product is to be sold is usually printed on the package. To the
company, it is a statement, which indirectly show the future profit. Price list tie
the hands of the dealers and retailers in term of maximum price of the product.
The pricing policies of Ellora Time Ltd Company are formulated at the end of
every current financial year. Then the top management sits together and revises
its pricing policy for the next financial year. Keeping in mind the class of
consumers to which the next company relates, it always strives at achieving a
low cost of production, which would mean a low and affordable selling price
without compensating the profits. At the end of every financial year, after the
company formulates its policy for next financial year, separate price lists are
prepared, printed and circulated to the various dealers who in turn distribute them
to retailers. This price list is effective from the date specified and all previous
price lists become ineffective.
The change in price of Ellora Time Ltd are chiefly due to a change in the prices of
raw materials, import of new technology, change in exchange rate in the
industrial policy of the government, etc. keeping in mind these changes, the
company revises its existing price list and formulates the new one. Though it
looks like a relatively easy task, it is not so. The large amount of hard work and
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effort, which goes behind the preparation of price-lists, cannot be measured. The
top management and various other employees of the company, workday’s
together to prepare the final price list.
PRICE LIST OF THE ELLORA TIME LTD’S PRODUCTS
WALL CLOCKS
Products Price1. Musical and Musical Pendulum Rs. 240 to Rs. 19000
2. Sweep Rs. 170 to Rs. 1450
3. Wooden and Pendulum Rs. 170 to Rs. 400
4. Fancy and Big Rs. 130 to Rs. 280
5. Wood Plat Rs. 210 to Rs. 230
6. Economic Range Rs. 65 to Rs. 135
TIME PIECES
Products Price1. Table Pendulum Time Pieces Rs. 150 to Rs. 320
2. Devotional Type Alarm Rs. 400 to Rs. 300
3. Bell Alarm Rs. 150 to Rs. 195
4. Snooze Alarm Rs. 105 to Rs. 190
5. Simple Buzzer Time Pieces Rs. 85 to Rs. 165
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EDUCATION TOYS
Product Price1. Education Toys and weight Scale Rs. 325 to Rs. 2200
CALCULATOR
Product Price1. Check and Correct Calculator Rs. 199 to Rs. 465
2. Basic Calculator Rs. 60 to Rs. 320
3. Scientific Calculator Rs. 220 to Rs. 300
TELEPHONE
Products Price1. Advance Featured Technology
Telephone
Rs. 1410 to Rs. 2190
2. LCD Display Telephone Rs. 485 to Rs. 950
3. Featured Telephone Rs. 410 to Rs. 600
4. Basic Telephone Rs. 280 to Rs. 405
Ellora Time Ltd gives 20% discount to his dealers and also at Diwali time, given
surprised gift to his distributors who achived targeted sale. This policy of Ellora
Time ltd. motivates the distributors and ultimately increases the sales volime.
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Company give offering discounts to dealers and retailers is very effective and has
resulted in an increase in the total sales and sales revenue of Ellora time Ltd.
E. DISCOUNTS
The term Discount means a deduction from the nominal value or price or amount
of the product. In other words, discount is the amount which is taken off the full
price of the product. Most companies modify their basic price to reward the
customers for such acts as early payment, volume purchases and off – season
buying. These price adjustments are called discounts. Discounts are a very
popular tool in the hands of the top management to increase their sales. The
companies make efficient use of the tool to expand their sales. The companies
make efficient use of top management to increase their market. Discounts, being
a reduction in the original price of the product, are a relatively cheep form of
attracting new customers and sustaining old ones. Discounts can be offered in
various form like cash discounts, quantity discounts, functional discounts,
seasonal discounts, etc. discount are direct benefit to the consumers and an
indirect benefit to the manufactures benefit in term of increase of sales, increase
in the total revenue, reduction of stock, and many other intangible benefits.
Ellora Time Ltd Company dose not allow any direct discount to their dealers,
retailers and consumers. But at the end of the financial year, the company gives
a surprise gift to its dealers. This gift may in term of cash money depending on
the quantity of clocks sold or some other tangible gift also depending on the
clocks and other products sold. The gift itself is a surprise. This is an incentive
to the dealers and retailers to sell more. It totally depends on the dealers and
retailers and incites then to sell more other products and clock of Ellora Time Ltd
rather than of any other brand.
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F. ALLOWANCES
Allowances are other types of reductions from the list price. An allowance is an
amount offered in return for the retailers agreeing to features the manufacture’s
product in some way. An advertising allowance compensates retailers for
advertising the manufacturer’s product. A display allowance compensates them
for carrying a special product display. Allowances are another reduction from
prices they are given to dealers to promote the sales. It is an efficient
promotional tool. In other word, it is a return to distributors for favoring the
product of a firm.
Ellora Time Ltd has given fix margin of allowance to its dealers. It’s depending
upon the relation with dealers to the company. Some time dealers are given
extra allowances to its dealers or retailers. This is because the company itself
directly carries on all the trade promotion activities. Thus, the process of
promotion is centralized.
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G. PAYMENT PERIOD
Payment period is a critical aspect of any manufacturing organization. Payment
period refers to that period of time within which the dealers have to pay the
money to the manufactures. Payment period is a crucial period of time. This is
because the company has to plan its revenue and expenses depending on the
payment period. If each payment is very short then the capital turnover is very
liabilities easily. If, on the other hand, the payment period is very long then the
capital turnover is very low and the company always experiences a deficiently in
the funds. Considering the important of payment period, careful calculations and
computations are necessary and are usually carried out in order to arrive at the
effective payment period. This period is binding on both the consumers and the
producers.
The terms of credit always depends on the policies of the company giving the
payment period. It is usually arrived at by an agreement between the seller and
buyer. Ellora Time Ltd Company has no direct connection with its ultimate
consumers. Company only has a direct connection with their distributors who
sell and promote only Ellora Time Ltd products. So they have only to consider
the payment period of the distributions. It is the distributors who have to worry
about the payment period of retailers and the retailers sell the products of Ellora
Time Ltd to the ultimate consumers in cash. Ellora Time Ltd has a well goodwill
as well as very big popular name in Clocks and Electronic product so they can
get half payment in advance and remaining amount is collect 25 to 30 days to it’s
dealers. This is considering only distributors.
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H. CREDIT TERMS
Payment period is also called the credit period because it is the period for which
credit is allowed to the consumers. The term of credit always depending on the
policies of the company giving the payment period. Credit terms refers to the
rules and regulation in the credit facilities which the producers and consumers in
relation to the credit facilities which the producers give to their consumers.
Depending on the policy of the management of the company, credit terms may
remain the same from consumer to consumer. Credit terms may also change
when the policy of the company changes over a period of time. Credit term can
be defined as a set of rules and regulations, which bind the parties to agreement
in obeying them and abide by them.
The credit terms of Ellora Time Ltd Company are fairly straightforward. The credit
period allowed to the dealer is 25 to 30 days. The company also takes a deposit
from the distributors against the dealership allocated to them. The company
usually does not allow a credit, which is more than the deposit. So the company
is fairly safe in relation to the credit facility. When the company exports its wall –
clocks to other countries, it delivers the consignment only after it receives and
irrevocable letter of credit, the delivery is done within 60 days. All bank charges
are on the account of buyers. Thus, the terms of exports are more stringent as
compared to the domestic market. This is chiefly because a company cannot
easily recover its due from on site demand incase a distributor turns defaulter.
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4. PROMOTION MIX
Promotion means to push forward or to advance an idea in such a way as to gain
its acceptance and approval. Promotion is any communicative activity whose
main objective is to move forwards a product, service or idea in any channel of
distribution. It is an effort by a marketer to inform and persuade buyers to
accept, resell, recommended or use the article, service or idea, which is being
promoted. Promotion is a form of communication with an additional element of
preference and behaviors of buyers. The element of persuasion to accept ideas,
products, services etc is the hart of promotion. Modern Marketing calls for more
than developing a good product, pricing it attractively and making it accessible to
target customers. Company must also communicate with their present and
potential customers. Every company directly or indirectly plays the role of
communication and promoter. To communicate effectively, companies hire
advertising agencies to develop effective advertisements, sales promotion
specialists to design sales incentive programs and public relation firms to
develop corporate image. They train their sales people to be friendly and
knowledgeable. For most companies, the question is not whether to
communicate but rather what to say, to whom and how often.
Essentially, promotion is a persuasive communication to inform the prospective
customers of the existence of the product, to persuade and convenience them
that those products have satisfying capability. Consumers, really speaking buys
a bundle of expectation to satisfy their economic, psychosocial wants and
desires. The promotion offers the message namely the communication of these
benefits to the consumers. Promotion is responsible for awaking and stimulating
consumer demand for the product. It can create and stimulate demand, capture
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demand from rivals and maintain demand for the product even against keen
competition.
A. SALES PROMOTION
ales promotion is an activity or material that offers consumers, salespersons, or
resellers a directs inducement for purchasing a product. These inducements,
which add value to or incentive for the product, might take the form of coupon,
sweepstakes, refund, demonstration or display. Some firms even give away free
samples as an inducement to purchase a product. The term sales promotion
should not be confused with promotion, which also includes advertising, personal
selling and publicity. Sales promotion techniques are gaining popularity with
consumers. Organizations often make use of sales promotion to reinforce the
effectiveness of other ingredients of the promotion mix, especially advertising
and personal selling.
Ellora Time Ltd Company uses two types of promotion schemes.
Dealers Intensive Scheme
Consumer Intensive Scheme
Dealers Intensive Scheme
The promotional incentive schemes of dealers are as follows.
1. Buying allowance and display allowance
2. Advertising allowance and display allowance
3. Trade discount and other special discount
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4. Sales Scheme
Ellora Time Ltd had given a trip to Bangkok in year 2002-03 to their dealers who
have completed the target selling the product. Ellora Time Ltd Company also
offers free after sales service within the guarantee period. The dealer on their
products purchase. Like buy 10 get 1 free. Sometimes company make foreign
trip, domestic trip on the specific target assigned to the dealers.
Consumer Intensive Scheme
1. Seasonal Discount
2. Festival Discount
3. Marriage Discount
Ellora Time Ltd Company carries out sales promotion activities in number od
ways. The most important of them is the printing on and spare wheel covers of
the scooters of the message displaying where Ellora Time Ltd’s products are
available. Eloora Time ltd also prints polyurethane bags and supplies it to
consumers. Company also gives gifts to its customers on over purchase of
clocks. The gifts are pen set, covers and money purse, carry bags.
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B. ADVERTISING
Advertising is a form of mass communication. A sponsor who wants to
communicate about his product or service to his customers pays it for. The
sponsor wants to persuade and induce the readers, viewers as listeners to take
some actions, to but the advertised product so that the advertise can have
profitable sales. In other words, advertising can be defined as mass, paid
communication because the advertisers has to pay for space or time in which the
advertise will appear. Advertise appears in recognized media such as
newspapers, radio, television, magazine, cinema film outdoor hoarding poster
direct mail, etc. advertising is a highly public mode of communication. It’s public
nature confirm a kind of legitimacy on the product and also suggests a
standardized offering. Because many persons receive the same message,
buyers know that their motives for purchasing the product will be publicity
understood. On the one hand, advertising can be used to build up a long-term
image for the product, and on the other to trigger quick sales.
Ellora Time Ltd Company has give advertisements responsibility is assigned to
REDIANT Agency in Ahemdabad. This agency prepares the advertisement for
different media; the agency decides as to advertising it does advertisement to
maintain the position in the mind of people. The advertisement of Telephone,
Calculator, Educational Toys, Wall Clock, Timepieces, are done with the purpose
of making people aware about the products of Ellora Time Ltd brand.
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Ellora Time Ltd’s Main purpose of Advertisement
1. To retain the market monopoly and maximize the market share.
2. To retain the Brand identity of the Ultimate Consumer.
3. For the development of the new products and to gain the upper edge over
the competitors.
Advertisement budget
advertisement budget are the advance planning of how much funds will be
allocated in agencies media and other ways. Ellora Time Ltd Company spends a
substantial amount on its advertising campaign. In the current financial year Rs.
2 caror have been allocated to the advertising budget. And sometime company
choose advertisement budget depend on the advertise frequency of the product
season too. Each year, the company allocates a fixed of money which is to be
used in advertising the company’s is product. This amount is dividing among
various media depending on the priority givens to each media by the company.
Advertisement message
Ellora Time Ltd captures all the sections of the society
1. Quality (ISO 9002 certification)
2. Economical Price
3. After sales service through out the country
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4. One year warranty
5. World class products
6. World’s largest clock Manufacturer
7. India’s largest clock Manufacturer
Name of the Media adopted of Ellora Time Ltd
T.V.
Ellora Time Ltd Company has given advertisement in T.V. channels like Sony,
Set-Max, Sanskar, Astha, and now they give their company’s product
advertisement in Sahara Rastriya channel. Ellora Time Ltd has given
advertisement different channel from time to time. Time of advertisement various
also according to the budget and duration of advertising.
Newspaper
Ellora Time Ltd has given advertisement in newspaper varies from city to city and
state to sate according to their circulations. Ellora Time Ltd gives contract in
Jaihind Newspaper for one year. These newspapers cover whole surastra in
Gujarat and give advertisement of Ellora Time Ltd products in front page in every
day. In these newspapers give advertisement of different products of Ellora Time
ltd every day.
Magazines
1. Jet Airways Magazines
Ellora Time Ltd has given advertisement in Jet Airways Magazines to Get the
coverage of the premier segment of the society.
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2. Trade post
Company give advertisement in Trade post Magazines this magazine is Watch
market Review of world clock Manufacturer Company for the Coverage of the
horological Trade. And Company also participation in the Exhibitions and Trade
fairs by the Distributors at the local level.
Advertisement copy
The success of advertisement depends very much upon the copy of
advertisement. The main aim of the advertisement is to attract the customer and
create and urge in his mind to have that product. The achievement of this aim
depends upon effectiveness of advertisement copy. Advertisement copy is
written or spoken material of advertising campaign and most includes headline,
name and address of the advertisement, as well as the main text of message.
Ellora Time ltd. mostly gives advertisement on T.V., Magazines and Newspaper.
In T.V. they show a No. Of models of Wall Clocks, Telephone, Calculator, Home
appliance, Timepieces, Educational Toys with attractive musical appeal here the
theme is to show the variety of models of company to the customers. The
company has used and old lady in the advertisement it is to be unique among
various advertisement of the company. The slogan of the company is “THE
WORLD’S LARGEST CLOCKS MANUFACTURER” This slogan use only in clock
advertisement. In Telephone, Calculators company give slogan is The India’s
Largest Telephone, Calculator manufacturer.
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ADVERTISE OF ELLORA TIME LTD FOCUS IN
VARIOUS MEDIA
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C. SALES FORCE
The term sales representative covers a broad range of position in the company.
Sales representative can be a deliver, order, taker, technician, demand creator
etc. The positions range from the least to the most creative type if selling. Sales
personnel serve as the company link to the customer. The sales representative is
the company to many of its customers and in turn brings back to the company.
Much needed information about the customer, which acts as a feed back to the
company.
Ellora Times Ltd. Company has no such system of appointing such direct sales
force. However, the company gets the advantage of the biggest utility of sales
force viz. feedback from customers through the company has not appointed any
directs sales force, indirectly the sales force appointed by distributors work for
the company, in the sense that they gather vital information for the company.
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D. PUBLIC RELATION
Public relation is an important marketing tool, which until recently was not given
the due importance. The public relation department is typically located at
corporate head quarters. The public relations department deals with stock
holders, employees legislation, community leaders and performs other functions
such as press relation, product publicity, corporate communication, counseling
etc. it can helpful in launching a new product, building the good image of a new
firm and developing the firm reputation.
Ellora Time Ltd Company’s group has maintained a good relationship with
society. They have built up a school at morbid. They have invested good
amount of money to maintain the relationship. More over they have develop
infrastructure of the morbi city. Currently they have building up girls hostel at
Rajkot city. Ellora Time Ltd group are always remain ahead in public services.
More over, they have donated money at pate seva samaj co. provides services to
patel community. Ellora Times Ltd create charitable trust who helps needy
student, and help to needy people to give medicine and cloths, help to effected
during natural climate tragedy.
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E. DIREST MARKETING
Direct marketing attempts to compress these elements to lead to a direst sale
without using intermediateries. Although direct first emerged in the form of direct
mail and mail order catalog, it has taken on several more forms in the recent
years. Direct marketing is an interactive system of marketing, which uses one or
more advertising media to effect measurable response and transaction at any
location.
Ellora Time Ltd Company has a wide and efficient channel of distribution, which
covers all the nooks and corners of the country and also has distributors in more
than 45 countries abroad. This has lead to diminishing the importance of directs
marketing of the company. Therefore, the company dose not believe in wasting
its time, money, efforts and sales force behind direct marketing when it can use
them logically to others promotional activity.
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MARKETING SHARE ANALYSIS
All over in India Market share of Ellora Time Ltd.
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Market share in Wall Clock
Market share in Calculator
86
Market share in Telephone
Market share in Time Pieces
87
Market share in Home Appliance
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PERSONNEL DEPARTMENT
Recruitment, Selection & Induction
RECRUITMENT:
Recruitment is the process of selection for prospective employees and stimulates
them to apply for job in the organization. It means recruitment deal with
discovering potential employee for actual organization vacancies. There fore, it
has been regarded as the most important function of the personnel department
because it is necessary that proper position.
The recruitment policy of the company is
Publication in newspapers.
Offer letter to the institutes
Internal recruitment
Consultant (Placement agencies)
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SELECTION:
Selection is a deliberate effort of the organization to select a fixed number of
applications. Selection means putting right person at the right place. The
company’s selection process is:
Screening of application
Preliminary interview
Offer letter
Reference check
Final Interview
First of all preliminary interview is taken by marketing department and top
management takes final interview.
INDUCTION:
When a new worker joins an organization, he or she enters in the new surrounds,
he has always confusion. To overcome the problem, the induction technique is
followed, by which new employees are rehabilitated into the changing situation
and introduced to the practices, policies and purposes of the organization.
In Orpat new employee is given full information about employ’s current situation
and duties, policies etc. In specific way induction process followed by Orpat is
as follows
Induction in department
Induction with head
Induction with interrelated departments
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JOB DESCRIPTION
Job description is a written record of the duties, responsibility and requirements
of particular job. It is a statement describing the job in term of its duties, working
conditions and hazard. So job description means providing guidance and the
information to the candidates about their job for which they are selected.
In Orpat the HRM of company for all type of employees middle level as well as
workers and all executive employees at management level gives job description.
This job description of Orpat is very useful to employees of the company, by
which they can easily aware the organization relationship and duties on a given
job.
Thus job description provides knowledge about what, where & how to perform
the job.
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TRAINING AND DEVELOPMENT
The training and development is not only for higher productivity but also for
satisfaction and high moral of workers. Workers can improve their skills by
training and development programmed.
TRAINING:
Training is an act of the job training method. They provide training according to
the requirement. When any new applies or new technologies are adopted then
training is given to their workers. There are main two type of training.
On the Job
Off the Job
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In Orpat they adopt on the job training. In this company training is given for three
months to the new workers. First of the trainee is kept with existing worker and
he has to understand the production process.
The company also follows job instruction method. In this instruction are given by
the manager of a particular department to their employees and workers. Thus
proper knowledge about the job or machine will enable the worker to work more
effectively.
DEVELOPMENT:
Development is a long-term educational procedure. It refers to philosophical and
practical educational concept and it involves the development of the overall
personality of the managers. Orpat does not provide any special development
programs to its employees.
PROMOTION & TRANSFER POLICY
PROMOTION:
Promotion involves movement of a person to higher status, more pay, increased
responsibilities and increased benefits in same organization. It provides
motivation to the person.
In Orpat, employees are getting promotion on its working abilities, knowledge,
and skills. They are not looking seniorities or experience. If there is any new
employee and he work well than the experienced employee than he can get
promotion.
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TRANSFER:
Transfer is a movement of an employee from one job to another without involving
any substantial change in his duties, responsibilities, required skills and
compensation.
As Orpat is a very large company it has a number of different units worker are
transferred from one unit to another unit as per the requirement. Only workers
are transferred in the Orpat.
WAGES ABD SALARY ADMINISTRATION
Wages is remuneration paid against the service of the labor in the productive
process and salary refers to administrative and professional level. Generally
wages is calculated on the basis of work done. It depends upon the policy of the
company. A wages and salary plan is helpful in maintain good industrial
relationship.
At the time of selection of an employee, basic wages rate is fixed. In addition to
the basic wage rate various allowances as medical allowance, etc are added.
In Orpat female get cheap wage than male. Workers are hired on daily wages
basis. Generally the workers get Rs. 45 to 65 daily wages according to work.
Salary is given to professional and administrative employees. Generally salary of
employees is between Rs. 5000 to 7000 as per their post.
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FACILITIES TO EMPLOYEES
The employees of the Orpat are getting many appreciable facilities and services
which are as follows:
1) Overtime facility:
Workers are given satisfactory wages. Besides they have over time facilities. As
workers are from backward areas they need money. So overtime system is
useful to them.
2) Hostel facility:
This company provides the hostel and mess facilities to bachelors.
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3) Medical facility:
Workers get the benefit of provident fund, gratuity, medical facility, and bonus at
festivals. The workers are also given 16 days leaving every year and if they don’t
use it they can use it whenever they want. Orpat also provides free medical
check up camp to employees after certain period of time.
4) Insurance:
They also provide insurance to the workers. But it is only concerned with those
workers only and not for their family.
5) Bus facility:
The company provides bus facility for up down of their workers, which is very
convenient to them.
6) Uniform facility:
Moreover Orpat also provides uniform to the entire worker and their
administration staff also. There are different color in uniform in staff members
and workers by which we can easily identify.
7) Safety Equipment:
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In Orpat they provide different equipments for different departments. E.g. for CFL
products they provide goggles. They provide software wings in glass cutting
department and plastic mask.
RESEARCH ON ORPAT ENERGY SAVING LAMP
Research in common parlance refers to a search for knowledge. In fact,
research is an art of scientific investigation. The Advance Learner’s Dictionary of
Current English lays down the meaning of research as “ a careful investigation or
inquiry specially through search for new facts in any branch of knowledge”.
Some people consider research as a movement, a movement from the known to
the unknown.
Research is an academic activity and as such the term should be used in a
technical sense. According to Clifforod Woody research comprises defining and
redefining problems, formulating hypothesis or suggested solutions; collecting,
organizing and evaluating data; making deduction and reaching conclusion; and
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at last carefully testing the conclusions to determine whether they fit the
formulating hypothesis.
OBJECTIVE OF MARKET SURVEY:
A main objective of my study is to understand consumer’s preference and
perception about electronic lamp (CFL) and analyses the competition. In
connection to this main objective I undertaken following objectives to meet the
main requirement of study.
1. To study marketing strategies of ORPAT.
2. To study brand preference and brand loyalty of consumers.
3. To analyses perception of consumer.
4. To study bargaining power of consumer.
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5. To analyses extent of comparison with various brands among various
attributes.
6. To study quantity discount effect on stock.
7. To study the extent competition from China’s Electronic Product.
8. To study the differentiation between the product users.
METHODOLOGY OF MARKET SURVEY:
Type of research: Applied Research
Sampling Design: Cluster Sampling and Area Sampling
Data Collection: Questionnaires Method
Sampling Frame: Rajkot City
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Sampling Area: Yagnik Road, Kalavad Road, University Road,
Dharmendra Road, etc.
Sample Size: 100
DATA ANALYSIS
Do you use the lamp?
(a) Yes (b) NO
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58% consumers use the lamp.
42% consumers are not using the lamp.
Which brand of lamp do you use regularly?
(a) Philips : 37 (b) Orpat(CFL) : 25
(c) Bajaj : 21 (d) Surya : 17
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37% are using Philips lamp regularly.
25% are using Orpat lamp regularly.
21% are using Bajaj lamp regularly.
17% are using Surya lamp regularly.
Are you aware of ORPAT(CFL) brand?
(a) Yes (b) No
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87% consumers are aware of ORPAT (CFL) brand.
13% consumer are not aware of ORPAT (CFL) brand.
From where did you know about ORPAT (CFL) lamp?
(a) Hording: 8 (b) Television: 12
(c) Retailers: 37 (d) Magazines: 12
(e) Friends: 20 (f) Family members: 11
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8% consumers are known about CFL brand from Hoarding.
12% consumers are known about CFL brand from Television.
37% consumers are known about CFL brand from Retailers.
12% consumers are known about CFL brand from Magazines.
20% consumers are known about CFL brand from Friends.
11% consumers are known about CFL brand from Family members.
What makes you purchase ORPAT (CFL) lamp?
(a) Good quality: 37 (b) Less price: 26
(c) Availability: 11 (d) Warrantee: 26
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37% consumer consume this product for good quality
26% consumer consume this product for less price
11% consumer consume this product for Availability
26% consumer consume this product for Warrantee
What was the satisfaction level after using ORPAT’s (CFL)
lamp?
(a) Excellent: 23 (b) Good: 40
(c) Average: 24 (d) Poor: 13
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23% consumer’s satisfaction level is Excellent.
40% consumer’s satisfaction level is Good.
24% consumer’s satisfaction level is Average.
13% consumer’s satisfaction level is Poor.
What would you say about the pricing of the ORPAT’s (CFL)
lamps?
(a) Very High: 22 (b) High: 28
(c) Low: 50 (d) Very Low: 0
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22% consumers said price of CFL lamp is very high.
28% consumers said price of CFL lamp is high.
50% consumers said price of CFL lamp is high.
No one consumer said price is very low.
What makes you satisfied with ORPAT’s (CFL) brand?
(a) Price: 38 (b) Brand: 36
(c) Warrantee: 9 (d) Long life: 17
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38% consumers are satisfied with price of CFL.
36% consumers are satisfied with brand of CFL.
9% consumers are satisfied with warrantee of CFL.
17% consumers are satisfied with long life of CFL.
What more you expect from ORPAT’s (CFL) brand?
(a) Less Price: 21 (b) Long life: 36
(c) Long warrantee period: 26 (d) Fuel efficiency: 12
(e) other: 5
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21% consumer more expects fewer prices.
36% consumer more expects long life.
26% consumer more expects long warrantee period.
12% consumers expect fuel efficiency.
HYPOTHESIS – TESTING
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After the analysis the data as stated above, the researcher is in a position to
test the hypotheses. The hypothesis may be tested through the use of one or
more of such tests, depending upon the nature and object of research inquiry.
Hypothesis – testing will result in either accepting the hypothesis or in
rejecting it.
One simple meaning of hypothesis is a mere assumption or some supposition
to be proved or disproved.
Hypothesis testing helps to decide on the basis of a sample data, whether a
hypothesis about the population is likely to be true or false.
CHI – SQUARE TEST
Null hypothesis: - Awareness of ORPAT (CFL) lamp is high.
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Alternative hypothesis: - Awareness of OROAT (CFL) lamp is not high.
Awareness of ORPAT (CFL) lamp.
Awareness Group of People
Business Home Shop Office Total
Yes 15 27 17 28 87
No 5 3 3 2 13
Total 20 30 20 30 100
Awareness: -
1) Business: - 20*87
100 = 17.4
2) Home: - 30*87
100 = 26.1
3) Shop: - 20*87
100 = 17.4
4) Office: - 30*87
100 = 26.1
Not Aware: -
1) Business: - 20*13
100 = 2.6
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2) Home: - 30*13
100 = 3.9
3) Shop: - 20*13
100 =2.6
4) Office: - 30*13
100 = 3.9
2
Chi – Square Test = ( Oij – Eij)
Eij
Groups
Observed
Frequency
Oij
Expected
Frequency
Eij
Oij - Eij
2
(Oij – Eij)
Eij
Aware
Business 17 17.4 -2.4 0.33
Home 27 26.1 0.9 .0.03
Shop 17 17.4 -0.4 0.01
Office 28 26.1 1.9 0.14
Not Aware
Business 5 2.6 2.4 2.22
Home 3 3.9 -0.9 0.21
Shop 3 2.6 0.4 0.06
Office 2 3.9 -1.9 0.93
Total 3.927
Chi – Square Value = 3.927
Degree of Freedom = (c-1) (r-1)
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= 3
3 degree of freedom at 5 percent level of significance = 7.815
Chi – Square is less than table value than we accept the Null hypothesis.
Than we can say that awareness of ORPAT (CFL) lamp is very high.
QUESTIONER
Name: _________________________________________
Address: ________________________________________
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Phone: (M)_________________ (O)_________________
Do you use the lamp?
(a) Yes (b) No
Which brand of lamp do you use regularly?
(a) Philips (b)Orpat
(c) Bajaj (d) Surya
Are you aware of ORPAT (CFL) brand?
(a) Yes (b) No
From where did you come to know about ORPAT (CFL) lamp?
(a) Hording (b) Television
(c) Retailers (d) Magazines
(e) Friends (f) Family members
What makes you purchase ORPAT (CFL) lamp?
(a) Good quality (b) Less price
(c) Availability (d) Warrantee
What was the satisfaction level after using ORPAT’s (CFL) lamp?
(a) Excellent (b) Good
(c) Average (d) Poor
What would you like to say about the pricing of the ORPAT’s (CFL) lamp?
(a) Very high (b) High
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(c) Low (d) Very low
What makes you satisfied with ORPAT’s (CFL) brand?
(a) Price (b) Brand
(c) Warrantee (d) Long life
What more you expect from ORPAT’s (CFL) brand?
(a) Less price (b) Lang life
(c) Long warrantee (d) Fuel efficiency
(e) Others
Give the suggestion about ORPAT’s (CFL) brand.
______________________________________________________________
BIBLIOGRAPHY
Marketing management: Philip Kotler
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Marketing Research: C.R. Kothari
Site: www.orpatgroup.com www.quartz.com www.orpatelectronics.com
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