I further declare that the contents of the report are authentic and specific references have been quoted along with the secondary data for better cross check and verification. The primary survey had been done in Delhi as a part of the project and the results of the survey cannot be transferred or copied without prior approval. It is also declared that this work is original and has not been published or presented earlier.
Signature of Presentation Signature of the candidate Incharge ( Sahil Jain) Counter Signed: Head of the Department PREFACE Progress is a continuous process. It is relative and absolute. We can’t stop a certain destination and declare that target has been achieved and we need not go further. The summer training program is designed to give the future managers feel of the corporate happenings and work culture.
These real life situations are entirely different from the stimulated exercise enacted in an artificial environment inside the classroom and it is precisely because of this reason that this summer training program is designed, so that the manager of tomorrow not feel ill in the case when the time comes to shoulder responsibilities. The summer training is a bridge between the institution and organization. Summer training program makes us to understand how theoretical knowledge will be applied in the practical field.
It was exactly in this context that I was privileged to join Luxor Writing Instruments Pvt. Ltd. on the 10th of May 2012, as a summer trainee. LUXOR Writing is known not only for its professional management, but also for its enlightened and progressive approach towards employee welfare and betterment of the society. The experience that I have gathered over the past two months has certainly provided me with an orientation, which, I believe, will help me shoulder any assignment successfully in future. During this period the report which I made was done after a deep, comprehensive and full-fledged tudy and is based on my original research and investigation.
I would hereby take the opportunity to express my indebtedness to people who have helped me to accomplish this task. I wish to express my deep sense of gratitude to my guide Mr. Vishal Sharma for the keen interest, inspiring guidance, continuous encouragement, valuable suggestions & constructive criticism throughout the pursuance of his report. Further words of thanks are expressed to all other staff members without hose help it would not have been possible to collect information & data. I am beholding to my parents for their blessing & encouragement. Sahil Jain)
In the early part of the review period, schools began to allow high school students to use ballpoint pens in their coursework, as examination boards began to allow their use as well. Students arguably constitute the largest and most prolific body of users of pens today, and this change made a significant difference to the pens sector within India, since it brought high growth in the volume sales of ballpoint and gel pens and of their refills. The writing instruments sector is forecast to enjoy continued growth in retail sales at a CAGR of 8. % between 2009 and 2014, driven mainly by the burgeoning of the student population. As incomes increase, increasing numbers of the more expensive, better-quality products will also be bought. The economics of the world are undergoing a rapid, with often wrenching transformation. The two major forces underlying this change are Globalization with Technological changes. The explosive increase in global trade and international competition has led to Globalization. Also technological changes have taken place with the passage of time.
This decade has witnessed remarkable advances in the availability of information and spread of communication. The markets of today are changing at an incredible pace. Along with technological changes and Globalization, we are also witnessing a power shift from manufacturing to retailing, new retail forms, growing consumer price and value sensitivity, diminishing role of man marketing. To protect their profits, companies have primarily responded by cutting their costs, re-engineering their processes and downsizing their work forces.
Yet even if companies succeed in cutting their costs, they may fail to increase their revenue if they may fail to increase their revenue if they lack marketing vision with marketing know-how. It is therefore necessary for companies to formulate broad strategy and define a specific marketing mix and action plan to optimize their long run profitability. The company can build in a set of controls so that it can evaluate results and operate as learning organization constantly improving its marketing know-how.
If we meet today’s tougher Indian consumers they are more demanding, inquisitive, discriminating. They are no longer content with planned obsolescence they are no longer willing to tolerate products that break down, they insists on high quality goods they have time, energy and calories; preserve the environment’ come from a manufacturer they think is socially responsible. This means that companies have to work harder to gain and keep the confidence of Indian consumers, especially those who have been switching brands.
For firms that have responded well to this challenge, an important milestone has been reached; they are truly consumer-oriented companies practicing the marketing concept. What does this mean: These firms talk to consumers to discover their needs and work hard to satisfy them; and they do this in a systematic, goal oriented manner. Firms operating internationally need to be aware that consumer’s desires and expectations can differ by country. Many times, these expectations are quite dissimilar from Indian Consumers. For e. g. German’s are the world’s toughest customers for athletic footwear.
They routinely review product specifications and expect retail sales persons to show them that footwear will perform as advertised Italians Spaniards value high efficiency laundry detergents and are able to discuss minor performance destinations among brands. In contrast American’s are more interested in the fashionableness of athletic footwear, and are less fastidious about laundry . Marketing has been a neglected area in India for a number of years due to the existence of protective controls and the prevalence of a seller’s market in most products.
However, the recent recessionary trends in our economy as well as the increase in educational levels and sophistication of customers has resulted in many of our businessmen finding themselves in a buyer’s market unprepared and indulging in heavy and often ineffective advertising. This is an acceptance of the marketing importance is clearly emerging on the Indian horizon at present. Marketing is not a fixed system of concepts. Rather marketing is one of the most dynamic fields within the management arena. The market place continuously throws out fresh challenges and companies must respond.
Therefore, it is not surprising that new marketing ideas keep surfacing to meet the new market place challenges. In the highly competitive world, only those organizations will survive, who respond positively to the fast changing environment. This is more important for Public sector undertaking which until now were working under the protective cover of the state. The survival of such undertakings including the cooperative sector is at state. Unless these improve productivity, efficiency and introduce professionalism in every aspect of business, the long term survival is not possible.
Thus, the importance of marketing strategies cannot be ignored strategies are the means of achieving the ends. Based on objectives and when applied to business, they govern the firm’s behavior in respect of acquisition, allocation and effective utilization of resources necessary to achieve the predetermined objectives within the given environmental constraints. In fact, they provide an overall direction for the functioning of an enterprise as well as the accomplishment of the enterprise goals strategy can be devised for a nation, Industry or for a firm.
It may be formulated in different areas of business activities such as marketing, finance, personnel, public relations & production. However, the formulation of strategy for marketing is one of the most complex, dynamic and challenging functions in any business enterprise. Marketing strategy is complex and dynamic both in terms of inputs and outputs. It is vital from the point of view of setting budgets, projecting cash flows and even deciding what products to make or when to buy.
Marketing strategy plays a crucial role by enabling the company to meet its general objectives that is, to ensure survival at a ‘Profit’ and success in relation to its competitors, market share, market growth etc. To accomplish these objectives, a sound marketing strategy usually outlines a number of tactics. These may include the lowest cost, control over distribution, product differentiation, effective promotion strategy etc. Thus marketing strategy provides the direction not only for marketing departments but for the overall growth of the firm.
Marketing strategy in contrast to marketing planning is concerned with long term development, implementation of policy, long range plans for achieving the organizational goals, efforts to meet these challenges and threats and also for securing business survival and success. It implies that marketing strategy is concerned more with the improvement of existing products, development of new products, new methods of production, exploration of new markets etc. than with the cut and thrust of day to day operations, which is the current production and sales.