25-08-2017, 09:32 PM
Market potential of Water Heaters in Jaipur market and Market Share of Jaquar AO Smith Water Heaters in it” FOR Jaquar & Company Pvt.Ltd
ABSTRACT
In this project I have studied “Market Share of AO Smith Jaquar Water Heaters in Jaipur area.’’ Jaquar AOSmith Water Heaters are manufactured by Jaquar & comp. Pvt.Ltd. In this competitive era of marketing where the satisfaction of customers towards the product has become first priority. It is very important to analyse the customers’ behavior. Every company determines the price of its products, sales promotion etc. according to the market requirement. Direct marketing is one of the effective medium sales promotion because it is directly related to customers. With the help of direct marketing company enhances its brand image. Without putting customers on top, no company can get success. To get success every company should target customers because market is totally customer oriented.
This project report evaluates the position of Jaquar AO Smith Water Heaters in jaipur market and the role of direct & indirect marketing. Finally I have given some views and suggestion to the company for its market strategy.
EXECUTIVE SUMMARY OF THE PROJECT
Racold Thermo Ltd. is a very well-known company. They manufacture faucets,water heaters,chandliers etc.. It is the market leader in bathroom fitting segment.
After a successful foray into the faucets,chandlier now the focus of the company management is shifting on the electronics item like Water Heaters
The project is related to market potential and market share. The market potential of Water Heaters in the official records was delusively less. Keeping in view the high practically observed market potential of Water Heaters in Jaipur, my project guide, Mr. Pankaj Tiwari decided the title of the project.
It was decided that I should visit all the Electronic Dealers , Sanitary Dealers , and Customers to collect the information about the sales from them and then interpret the results to calculate the market potential and market share of Water Heaters.
There are around 70 dealers located across Jaipur. I did a Delphic survey of all these dealers and collected information from them regarding their yearly sales of water heaters.
Need of study
The underlying motives of the research were to furnish the organization with vital information and facilitate the researcher to gain a practical insight to the market scenario. The study proved significant in terms of catering to the interests of both the company and the researcher.
This will help organization to know what is the present Potential of Water Heaters in jaipur market and will able to know what is there market share in Waters Heaters in jaipur market.
This will help to the researcher to know the Water Heater Industry industry better. To know how the Water Heaters are sold in the market, how customer chose water heaters in the market, what are the expectations of customers to the company, how to chose water heater for your home, what are dealers expectations, which company has pull strategies and which company has push strategies and many more.
The questions asked by me from the dealers are developed by me with the help of my seniors in Jaquar & Company Mr.Pankaj Tiwari and Mr.Santosh.
INTRODUCTION
In today’s world of intense competition and rapid dynamism, all the companies worldwide are tuning their focuses on the customer. Suddenly, the customer had succeeded in capturing all the attention of the companies towards him, so much so, that the once famous maxim, “customer is the god” has become so true and relevant today. There has been a “paradigm shift” in the thinking of these companies and none other then the customer has brought this about.
Earlier there was a sellers market, since goods and services were in short supply and the sellers use to call the shots. But, ever since the advent of the era of globalization, there has been total transformation in the way the customers being perceived. Today, marketers are directing their efforts in retaining the customers and customers’ base. Their focus has shifted towards integrating the three elements people, service and marketing. The customer’s importance has assumed imponderable proportions in today’s world, because of the inherent value that the customers command.
CONCLUSION
1. The market share of Jaquar AO Smith water heatres is very less in JAIPUR market.
2. Only 50% customers were aware of Jaquar AO Smith water heaters .
3. Rate of Jaquar water heaters are high against with the other Company water heaters.
4. After sale service (Claim) of Jaquar AO Smith Water heaters is very good.
5. 80% customers prefer branded water heaters in their bathrooms.