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A
PROJECT REPORT
ON“MANUFACTURING STRATEGIES FOR
COMPETITIVE ADVANTAGE OF
WINGS BIOTECH PVT. LTD.”WINGS BIOTECH PVT. LTD.”
Submitted in partial fulfillment of the requirement for the award of
Bachelors of Business Administration (BBA)
SUBMITTED BY: SUBMITTED TO:
ADITYA ARORA (BBA 5-A) MS. SUPREET WAHEE
BHARATI VIDYAPEETH DEEMED UNIVERSITY
INSTITUTE OF MANAGEMENT & RESEARCH, NEW DELHI
An ISO 9001:2008 Certified Institute
NAAC Accredited Grade “A” University
CRISIL Grading – MBA Programmer
A* - National Level
A**- State Level
PREFACE
Manufacturing is considered to be the base of every company which deals in
production of goods. It is an essence taking a view of the whole business organization
and its ultimate objective concern for Manufacturing must penetrate all areas of the
enterprise.
The aim of this project is to study the company Wings Biotech’s manufacturing
processes and try to reveal future prospects of the company.
To carry out this research a sample study was pursued where the target audience a
region. Statistical and analytical tools ad techniques are applied to ascertain and
depict the present scenario.
Conclusion and there by recommendations has been arrive at by proper and justified
interpretation of the result derived from the above said analytical tools and
techniques.
ADITYA ARORA
BBA 5-A
ACKNOWLEDGEMENT
It is well-established fact that behind every achievement lies an unfathomable sea of
gratitude to those who have extended their support and without whom the project
would never have come into existence.
I express my gratitude to BVIMR for providing me an opportunity to work on this
thesis as a part of the curriculum.
Also, I express my gratitude to Prof. SUPREET WAHEE for her kind cooperation.
ADITYA ARORA
BBA 5-A
TABLE OF CONTENTS
Particular Page No.
Acknowledgement
Preface
INTRODUCTION
RESEARCH METHODOLOGY
CONCEPTUAL DISCUSSION
DATA ANALYSIS
Findings & Recommendations
Conclusion
Bibliography
Questionnaire
ABOUT US
Wings came into existence as a start-up with seven successful products in 1989. Since then
we have crossed several milestones to emerge as an important pharmaceutical company in
India.
Wings has become an important player in therapeutics especially pain killers. We are rated as
a valued company by our customers namely Chemists, Stockists, Distributors and CFAs.
Keeping a focus on customers remains a high priority area for us.
With an impeccable track record of growth and profitability spanning two decades, Wings is
aggressively pursuing growth through market penetration. The company’s objective is to
become a dominant player in the Indian pharmaceuticals sector and to enter the consumer
products area.
Wings’ business philosophy is based on delivering value to its employees and partners. We
constantly aspire to achieve excellence and set newer benchmarks. We are driven by the
passion of our more than 300-strong multicultural and multitalented workforce. The Group
continues to aggressively pursue its mission to become a reckonable force and attain
leadership in many more markets.
We started our journey two decades back and since then we have gone from strength to
strength, building a name in the heath care sector in India.
Take a look at how Wings has grown through these decades:
1989: Launch of Wings
1999: New state-of-the-art Ayurvedic plant started
2004: New manufacturing facility started at Delhi
2007: Massive manufacturing facility started in Baddi
2008: Wings Biotech incorporated
Wings began in 1989 with just seven products. Diclowin Plus was one of the first products
launched at that time and since then it has become one of our largest selling products. Our
sales were initially limited to just two states - Delhi and Haryana. We commenced our
national rollout in 1994 and have subsequently made progress in the Northern states, then to
Eastern and Southern India and finally to the Western states.
OUR PEOPLE
It is the people who make an organization - We at Wings Biotech Pvt. Ltd. believe
growth-directed change can be achieved through committed and competent people at
various levels. With this in mind, we have laid down our human resource policies to
keep our people on the path to continuous improvement.
Recruitment of competent and qualified personnel, with relevant
experience, at all levels.
Transparency and thoroughness in decision making for inspiring
mutual trust at all levels.
Continuously imparting training to employees at various levels.
Providing opportunity to all employees to show initiative and apply
their skills to undertake improvement .
Sponsoring employees with potential for managing key positions for
External Training Programs.
Encouraging and facilitating our employees to continuously acquire
new technical as well as behavioral skills.
Providing ample opportunities to the existing personnel for internal
growth.
Suggestion Schemes backed with monetary benefit to encourage
personnel to continuously think of improvement.
To provide a work environment that leads to self-motivation and
employee commitment.
Timely, correct and effective communication to foster a spirit of
openness.
INFRASTRUCTURE
Manufacturing
Wings Biotech has two Ultra Modern & state of the art manufacturing plants located at Baddi,
Himachal Pradesh. Both these Plants are well equipped with New Generation Technology
which ensures Products of World Class Quality.
These Plants have separate sections for Tablets , Capsules , Liquid Orals , External
Applications, Oral Dry Powder, Food Products (Honey & Vitalfit) , Homecare Products
(Glass, Toilet, Floor Cleaner etc.) , Cosmetic Products(Shampoo, Kajal, gel etc.) and
Ayurvedic Preparation (Candies). The manufacturing is done under the supervision of Highly
Qualified well Trained Professional Staff which ensures Product’s Manufacturing in these
plant are as per International Quality.
We have highly sophisticated Quality Control Equipments like FTIR, HPLC,
Spectrophotometer etc.
Distribution Network
Wings Biotech has a very strong Distribution Network which is spread across the length &
breadth of the country & through this Wings Biotech products are available even in the
remote part of the country.
Wings Biotech has CSAs (Consignee Sales Agent) in every state which are located in the
State Capital or Commercial Capital of the States.
All the CSAs are limited to the Head Office (HQ) in Delhi through Online via ERP System.
Sales
Wings Biotech has a Highly Motivated Sales Force spread across all the state. Sales Force
comprises of SRs, TSIs, ASMs, RSMs & NSM .Currently we have 155 Field Staff in all
India Sales Team
MarketingWings Biotech’s Marketing Team comprises of Highly Qualified dedicated & sincere staff
with strong professional background of B.Pharms, M. Pharms, MBAs along with we have
highly skilled Designers which help in designing designs for products.
The Marketing Department also has well equipped workshop & Library, having all the latest
Marketing & Designing Materials.
The Product Management Team of Marketing imparts very effective training to newly
recruited field staff & also conducts refresher training program for existing staff . It imparts
both Class Room & Field Training to the candidate.
Manpower
Wings Biotech’s employees around 600 strong varied workforce ,which is spread from HQ, to
Plants, to Warehouse & in Field Staff.
Quality
Wings Biotech has well defined Quality Control & Quality Assurance Department managed
by Highly Specialized & Qualified Technical Staff which ensures that all the products are
manufactured as per the International Quality and are released for sales into the market after
they passes all the stringent test as per Drugs & Cosmetic Act,1940.
Systems
Wings Biotech believe in paperless Office ,for this we got the latest the most modern ERP
(Enterprise Resource Planning ) System .Through this System all the crucial aspects of
functioning of an organization like finance, accounting, distribution, inventory management,
sales, marketing, planning, manufacturing, project management, human resource and so forth
are accurately controlled & performed.
In addition to ERP System ,Wings Biotech is also equipped with advanced VPN (Virtual
Private Network) Technology, which connects all the employees. Through this technology all
the Plants are connected with each other & to Head Quarter & can be maintained very easily
& efficiently.
VISION & MISSION
Our Vision is
To provide affordable, high quality, Medicines and Healthcare for all.
Our Mission
To provide high quality, effective & result oriented Otc, Generic &
Consumercare Products
CUSTOMERS
The products are sold to customers in and around the country. Global standards in
quality and environment; constant innovation; and collaboration the efficient
workforce has given us the technology and expertise to access quality oriented
customers..
At present , the company is not exporting the products to other countries, but in few
months it is are willing to expand and export the products to the Asian market which
is supposed to have high demands due to lack of medical company in the countries
like- Bangladesh ,Bhutan, Sri Lanka,etc.
PRODUCTS
The company have 3 divisions
Over the counter (OTC)
Consumer care division(CCD)
Life care division (LCD)
OVER THE COUNTER (OTC)
DICLOWIN PLUS
India's No.1 Analgesic Tablet
CLEENHANDS
Instant hand sanitizer with moisturiser
DICLOWIN PLUS BALM
Powerful & fast headache relieving balm
HEELMATE
Scientific formula for hard & cracked heels
DICLOWIN PLUS GEL
Powerful & fast pain relieving gel
LIPROZ
Lip softener
MEDILICE
Effective & safe anti-lice formula
WINGS PASTEURISED
HONEY
1'st time in INDIA pasteurized honey
SELDRUFF
Anti dandruff specialist shampoo
KUFMA-EX
The triple action cough formula
ORA SORE GEL
Analgesic gel for mouth ulcers
KUFMA-DX
The triple action cough formula
VITAL FIT CAPSULES
For complete vitality & fitness of body
WINCEREX
Cough linctus
BOLDMAN RED WINCEDYL
RESEARCH METHODOLOGY
1. Primary Sources:
i. Group discussions and Brainstorming sessions
ii. Questionnaire
iii. Interaction with staff of WINGS BIOTECH
2. Secondary Sources:
i. Internet
Objectives of the study:
To get an empirical view of the Wings Biotech
To get an insight of the manufacturing techniques.
To study the various products offered.
To study the strategies that give Wings Biotech a competitive edge over other
competitors.
Managerial usefulness of study:
The study highlights the problems related to distribution of Wings Biotech also that
the company can improve the service rendered by them as a distributor. The study
gives information about prospective buyers both individual as well as institutional
clients. The study provides the complete information about all manufacturing
strategies of Wings Biotech. It provides the feedback from customers regarding their
problems and their perception about investing in Wings Biotech also that the company
can improve their services.
Helping the organization to understand the importance of business
Getting to know where the organization is lacking in customer satisfaction
Bringing the notice to the organization the untapped markets
Data Collection
This report is based on primary as well secondary data, however primary data
collection was given more importance since it is overhearing factor in attitude
studies. One of the most important users of research methodology is that it helps
in identifying the problem, collecting, analyzing the required information data
and providing an alternative solution to the problem .It also helps in collecting
the vital information that is required by the top management to assist them for
the better decision making both day to day decision and critical ones.
Research Methodology
Primary sources include
1. Working in the company for 2 months.
2. Interaction with the Managing Director, Mr. Rakesh Arora
3. Interaction with the new as well as existing clients
Data sources:
(A)Primary Data
Primary data are those, which were collected afresh & for the first time
and thus happen to be original in character. However, there are many methods
of collecting the primary data. All have not been used for the purpose of this
project. The ones that have been used are:
Face to face conversation
observation
(B) Secondary Data
When an investigator uses the data that has been already collected by others is
called secondary data. The secondary data could be collected from the journals,
reports and various publications. The advantage of the secondary data can be
economical, both in the terms of money and time spent. In this report secondary data
was collected through:
Company balance sheets
Company sales chart
Reports and records
Flow charts and tables
Primary data was collected through questionnaires
Sample size : 20
Sample area : Delhi
Sample method : Convenience sampling method
Duration of Study:
The study was carried out in the month of June 2013.
Sampling:
(A)Sampling procedure:
The sample was selected of them who are the customers/visitors of Adarsh
Exploration It was also collected through personal visits to persons, by formal and
informal talks and through filling up the questionnaire prepared. The data has been
analyzed by using mathematical/Statistical tool.
Secondary source of data
1. Reports from the clients
2. Old data of existing clients
(B) Sample design:
Data has been presented with the help of bar graph, pie charts, line graphs etc. The
following are the questionnaires that was been carried out at the time of survey. The
questionnaires also show the value of perception of customers towards Wings Biotech
in market
1 Uses of Wings Biotech
2 Satisfied customers of Wings Biotech
3 Perception about the brand name
4 Buying behavior of customer towards Wings Biotech
5 Preference of customers to Wings Biotech
6 Reasons to prefer Wings Biotech
7 Awareness about the brand name in the market
8 Manufacturing strategies of the company.
LIMITATIONS:
Suggestion is based on the given information.
Due to the large number of employee it was not possible to collect all the
information from each.
The time period is limited to know the entire process .We cannot draw
effective conclusion as it is continuous process.
The area of survey was limited to some particular areas.
SCOPE OF THE STUDY
Extensive survey on manufacturing strategies will provide lot of valuable information
about the products of the company and it will be easy to find out the likes and dislikes
about the product.
For company, it will provide through knowledge about the consumer preferences in
comparison with other market product and suggest valuable direction of the current
market trend.
It will include valuable suggestions for the company, how the company can
strengthen their own brand?
The study of manufacturing strategies will provide me lot of information on:
How manufacturing is done?
What makes the product of Wings Biotech different from that of others?
MANUFACTURING STRATEGY
Manufacturing is the production of goods for use or sale using labor and machines,
tools, chemical and biological processing, or formulation. The term may refer to a
range of human activity, from handicraft to high tech, but is most commonly applied
to industrial production, in which raw materials are transformed into finished goods
on a large scale. Such finished goods may be used for manufacturing other, more
complex products.
Manufacturing strategy can be defined as a set of coordinated objectives applied to
manufacturing functions and aimed at securing sustainable advantage over
competitors. Issues generally addressed include: Manufacturing capacity, production
facilities, technology advances, vertical integration, quality, production
planning/materials control, organization and personnel. Of course, the strategic
approach must be combined with a pragmatic approach to continuous improvement at
an operational level to ensure competitiveness in global markets.
A key part of a manufacturing strategy is the definition of whether products will
continue to be produced at the traditional manufacturing sites, or if the cost
advantages make it beneficial to set up manufacturing in geographic areas with a
lower cost base.
MANUFACTURING STRATEGY OPTED BY THE WINGS
BIOTECH:
Wings Biotech manufactures medicine using fully automated machines. This not only
helps in reducing the cost of the product but also gives the company a competitive
edge over its competitors in terms of quality and price.
The distinctive tools and techniques that are used for production are :
HUGE CAPACITY:
The plant has a huge capacity of production, it produces 30000 tablets of different
kind in a minute. This of this much more than other local competitors present in the
state. It enables the company to achieve economies of scale and thus reducing the per
unit cost of the product and maximum utilization of the available resources.
ELECTRICITY CONTROL PANEL:
A heavy duty electric control panel is installed in the company that ensures
proper supply of electricity without fluctuation to all the seven lines of
production. The digital screen displays all the essentials related to electricity in
the machines and the plant like voltage, speed, longitude etc.
CUSTOMER SATISFACTION AT WINGS BIOTECH
Customer satisfaction, a term frequently used in marketing, is a measure of how
products and services supplied by a company meet or surpass customer expectation.
Customer satisfaction is defined as "the number of customers, or percentage of total
customers, whose reported experience with a firm, its products, or its services
(ratings) exceeds specified satisfaction goals." In a survey of nearly 12 senior
marketing managers, 71 percent responded that they found a customer satisfaction
metric very useful in managing and monitoring their businesses.
It is seen as a key performance indicator within business and is often part of a
Balanced Scorecard. In a competitive marketplace where businesses compete for
customers, customer satisfaction is seen as a key differentiator and increasingly has
become a key element of business strategy.
Within organizations, customer satisfaction ratings can have powerful effects. They
focus employees on the importance of fulfilling customers’ expectations.
Furthermore, when these ratings dip, they warn of problems that can affect sales and
profitability. These metrics quantify an important dynamic. When a brand has loyal
customers, it gains positive word-of-mouth marketing, which is both free and highly
effective.
Therefore, it is essential for businesses to effectively manage customer satisfaction.
To be able do this, firms need reliable and representative measures of satisfaction.
In researching satisfaction, firms generally ask customers whether their product or
service has met or exceeded expectations. Thus, expectations are a key factor behind
satisfaction. When customers have high expectations and the reality falls short, they
will be disappointed and will likely rate their experience as less than satisfying. For
this reason, a luxury resort, for example, might receive a lower satisfaction rating than
a budget motel—even though its facilities and service would be deemed superior in
“absolute” terms.
The importance of customer satisfaction diminishes when a firm has increased
bargaining power. For example, cell phone plan providers, such as AT&T and
Verizon, participate in an industry that is an oligopoly, where only a few suppliers of
a certain product or service exist. As such, many cell phone plan contracts have a lot
of fine print with provisions that they would never get away if there were, say, a
hundred cell phone plan providers, because customer satisfaction would be way too
low, and customers would easily have the option of leaving for a better contract offer.
There is a substantial body of empirical literature that establishes the benefits of
customer satisfaction for firms.
Purpose
A business ideally is continually seeking feedback to improve customer satisfaction.
Customer satisfaction provides a leading indicator of consumer purchase intentions
and loyalty. Customer satisfaction data are among the most frequently collected
indicators of market perceptions. Their principal use is twofold.
1. Within organizations, the collection, analysis and dissemination of these data
send a message about the importance of tending to customers and ensuring
that they have a positive experience with the company’s goods and services
2. Although sales or market share can indicate how well a firm is performing
currently, satisfaction is an indicator of how likely it is that the firm’s
customers will make further purchases in the future. Much research has
focused on the relationship between customer satisfaction and retention.
Studies indicate that the ramifications of satisfaction are most strongly realized
at the extremes. On a five-point scale, individuals who rate their satisfaction
level as “5” are likely to become return customers and might even evangelize
for the firm. (A second important metric related to satisfaction is willingness
to recommend. This metric is defined as "The percentage of surveyed
customers who indicate that they would recommend a brand to friends." When
a customer is satisfied with a product, he or she might recommend it to
friends, relatives and colleagues. This can be a powerful marketing
advantage.) Individuals who rate their satisfaction level as “1,” by contrast, are
unlikely to return. Further, they can hurt the firm by making negative
comments about it to prospective customers. Willingness to recommend is a
key metric relating to customer satisfaction.
Construction (Measuring customer satisfaction)
Organizations need to retain existing customers while targeting non-customers.
Measuring customer satisfaction provides an indication of how successful the
organization is at providing products and/or services to the marketplace.
Customer satisfaction is measured at the individual level, but it is almost always
reported at an aggregate level. It can be, and often is, measured along various
dimensions. A hotel, for example, might ask customers to rate their experience with
its front desk and check-in service, with the room, with the amenities in the room,
with the restaurants, and so on. Additionally, in a holistic sense, the hotel might ask
about overall satisfaction “with your stay.”
As research on consumption experiences grows, evidence suggests that consumers
purchase goods and services for a combination of two types of benefits: hedonic and
utilitarian. Hedonic benefits are associated with the sensory and experiential attributes
of the product. Utilitarian benefits of a product are associated with the more
instrumental and functional attributes of the product (Batra and Athola 1990).
Customer satisfaction is an ambiguous and abstract concept and the actual
manifestation of the state of satisfaction will vary from person to person and
product/service to product/service. The state of satisfaction depends on a number of
both psychological and physical variables which correlate with satisfaction behaviors
such as return and recommend rate. The level of satisfaction can also vary depending
on other options the customer may have and other products against which the
customer can compare the organization's products.
Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988
provides the basis for the measurement of customer satisfaction with a service by
using the gap between the customer's expectation of performance and their perceived
experience of performance. This provides the measurer with a satisfaction "gap"
which is objective and quantitative in nature. Work done by Cronin and Taylor
propose the "confirmation/disconfirmation" theory of combining the "gap" described
by Parasuraman, Zeithaml and Berry as two different measures (perception and
expectation of performance) into a single measurement of performance according to
expectation.
The usual measures of customer satisfaction involve a survey with a set of statements
using a Likert Technique or scale. The customer is asked to evaluate each statement
and in term of their perception and expectation of performance of the organization
being measured. Their satisfaction is generally measured on a five-point scale.
Customer satisfaction data can also be collected on a 10-point scale.
Regardless of the scale used, the objective is to measure customers’ perceived
satisfaction with their experience of a firm’s offerings. It is essential for firms to
effectively manage customer satisfaction. To be able do this, we need accurate
measurement of satisfaction.
Good quality measures need to have high satisfaction loadings, good reliability, and
low error variances. In an empirical study comparing commonly used satisfaction
measures it was found that two multi-item semantic differential scales performed best
across both hedonic and utilitarian service consumption contexts. According to
studies by Wirtz & Lee (2003), they identified a six-item 7-point semantic differential
scale (e.g., Oliver and Swan 1983), which is a six-item 7-point bipolar scale, that
consistently performed best across both hedonic and utilitarian services. It loaded
most highly on satisfaction, had the highest item reliability, and had by far the lowest
error variance across both studies. In the study, the six items asked respondents’
evaluation of their most recent experience with ATM services and ice cream
restaurant, along seven points within these six items: “please me to displeased me”,
“contented with to disgusted with”, “very satisfied with to very dissatisfied with”,
“did a good job for me to did a poor job for me”, “wise choice to poor choice” and
“happy with to unhappy with”.
A semantic differential (4 items) scale (e.g., Eroglu and Machleit 1990), which is a
four-item 7-point bipolar scale, was the second best performing measure, which was
again consistent across both contexts. In the study, respondents were asked to evaluate
their experience with both products, along seven points within these four items:
“satisfied to dissatisfied”, “favorable to unfavorable”, “pleasant to unpleasant” and “I
like it very much to I didn’t like it at all”.
The third best scale was single-item percentage measure, a one-item 7-point bipolar
scale (e.g., Westbrook 1980). Again, the respondents were asked to evaluate their
experience on both ATM services and ice cream restaurants, along seven points
within “delighted to terrible”.
It seems that dependent on a trade-off between length of the questionnaire and quality
of satisfaction measure, these scales seem to be good options for measuring customer
satisfaction in academic and applied studies research alike. All other measures tested
consistently performed worse than the top three measures, and/or their performance
varied significantly across the two service contexts in their study. These results
suggest that more careful pretesting would be prudent should these measures be used.
Finally, all measures captured both affective and cognitive aspects of satisfaction,
independent of their scale anchors. Affective measures capture a consumer’s attitude
(liking/disliking) towards a product, which can result from any product information or
experience. On the other hand, cognitive element is defined as an appraisal or
conclusion on how the product’s performance compared against expectations (or
exceeded or fell short of expectations), was useful (or not useful), fit the situation (or
did not fit), exceeded the requirements of the situation (or did not exceed).
Methodologies
American Customer Satisfaction Index (ACSI) is a scientific standard of customer
satisfaction. Academic research has shown that the national ACSI score is a strong
predictor of Gross Domestic Product (GDP) growth, and an even stronger predictor of
Personal Consumption Expenditure (PCE) growth. On the microeconomic level,
academic studies have shown that ACSI data is related to a firm's financial
performance in terms of return on investment (ROI), sales, long-term firm value
(Tobin's q), cash flow, cash flow volatility, human capital performance, portfolio
returns, debt financing, risk, and consumer spending. Increasing ACSI scores has
been shown to predict loyalty, word-of-mouth recommendations, and purchase
behavior. The ACSI measures customer satisfaction annually for more than 200
companies in 43 industries and 10 economic sectors. In addition to quarterly reports,
the ACSI methodology can be applied to private sector companies and government
agencies in order to improve loyalty and purchase intent. Two companies have been
licensed to apply the methodology of the ACSI for both the private and public sector:
CFI Group, Inc. and Foresee Results apply the ACSI to websites and other online
initiatives. ASCI scores have also been calculated by independent researchers, for
example, for the mobile phones sector, higher education, and electronic mail.
The Kano model is a theory of product development and customer satisfaction
developed in the 1980s by Professor Noriaki Kano that classifies customer
preferences into five categories: Attractive, One-Dimensional, Must-Be, Indifferent,
Reverse. The Kano model offers some insight into the product attributes which are
perceived to be important to customers.
POSE Analysis offers an alternative to customer satisfaction. Instead of evaluating
satisfaction with a proposition, POSE Analysis determines both the positioning and
strength of a proposition. POSE Analysis thus offers a competitive perspective to
customer satisfaction.
SERVQUAL or RATER is a service-quality framework that has been incorporated
into customer-satisfaction surveys (e.g., the revised Norwegian Customer Satisfaction
Barometer[to indicate the gap between customer expectations and experience.
J.D. Power and Associates provides another measure of customer satisfaction, known
for its top-box approach and automotive industry rankings. J.D. Power and
Associates' marketing research consists primarily of consumer surveys and is publicly
known for the value of its product awards.
Other research and consulting firms have customer satisfaction solutions as well.
These include A.T. Kearney's Customer Satisfaction Audit process, which
incorporates the Stages of Excellence framework and which helps define a company’s
status against eight critically identified dimensions.
For Business to Business (B2B) surveys there is the InfoQuest box. This has been
used internationally since 1989 on more than 110,000 surveys (Nov '09) with an
average response rate of 72.74%. The box is targeted at "the most important"
customers and avoids the need for a blanket survey.
In the European Union member states, many methods for measuring impact and
satisfaction of e-government services are in use, which the eGovMoNet project sought
to compare and harmonize.
These customer satisfaction methodologies have not been independently audited by
the Marketing Accountability Standards Board (MASB) according to MMAP
(Marketing Metric Audit Protocol).
DATA ANALYSIS
1. Does Wings Biotech has enough resources to manufacture their products?
(a) Strongly Agree (c) Disagree
(b) Agree (d) Strongly Disagree
The survey showed that 54% of the people who were surveyed strongly agree to the
option that Wings Biotech possess relevant resources to manufacture out their
products that is medicines to the relevant customers, these were mainly the regular
customers of the company who frequently deal with the company, where as 37% and
just 7% respectively came to a conclusion of agreeing and disagreeing the fact and
fixtures. Whereas 2% strongly disagreed with the point and thought that the company
has to improvise in the certain areas so that the manufacturing of the product may
increase as per the yearly targets.
2. What according to you is the product’s best selling point?
(a) Cheap (c) Easy availability
(b) Quality (d) Others
Wings Biotech being an old and established company in the market which has high
competition, the respondents agreed to a certain level that the easy availability and
quality of the products is the main and leading best selling point. A cumulative of
62% (30% and 32%) respectively agreed to the same, where as a healthy percentage
of 38% came to the decision that the price and various other factors were the main
selling point of the product.
3. What is the target audience for Wings Biotech?
(a) High income group (c) lower Income Group
(b) Middle Income Group (d) All
In the questionnaire the main question was the target audience of Wings Biotech
Being an established firm it is very important for the company to set their preferences
in regard to target audience. The respondents agreed to the point that the company
should focus more on the Middle income group people because they are the ones
which are developing and whose consumption is increasing on a daily basis. Nearly
8% of the respondents agreed to that point. 19% respondents also agreed to the fact
that lower income group can also be targeted as know they have the support from the
government. 49% favored the high income group people to be the target audience
keeping in mind the business of the company of building complexes.
4. Where does Wings Biotech sell their products?
(a) In a business premise (c) Through chemist
(b) Through Agents (d) through business sources
According to the respondents the main place of selling for Wings Biotech is within
their business premises. 10% agreed to the point that the main business is generated
within the premises this is because the company is located in a market where there are
many competitors producing the same product, so the customers also check the price
and quality factor before buying and thus are convinced because Wings Biotech
provide best quality products at cheapest prices in the market. The company also sells
the products through the agents on the commission basis. This helps them to obtain
good volume of sales because more often the customers goes to agents ,which in turn
have link with the company, 52% selling is done through these dealers. With the
growing use of internet for various purchases the company had also started online
procedures for sales through internet, this includes links on websites like
indiamart.com, alibaba.com and few others.
5. What Does the Manufacturing strategy of Wings Biotech cover?
(a) Automation (c) high tech machines
(b) in house laboratory (d) quality tests
(e) all of the above
Most of the customers (29%) agreed that Wings Biotech has all of the facilities such
as quality tests, high tech machinery, automated procedures and in house lab that
gives it a competitive edge over other companies in the market, while another major
fraction (28%) agreed that this is because of the high tech producing machines. Others
believed that the company is excelling in the production because of the quality test
policy, automated procedures and the in house laboratory that it has which checks the
chemical composition of all the batches.
6. How can manufacturing help increase in sale for Wings Biotech?
(a) Increase in profit (c) Building a brand name
(b) Increasing customer knowledge (d) no use
Manufacturing has a core aim of increasing the sale of the company. According to a
large number of respondents (38%) manufacturing will help the company to increase
sale which will result in increasing the profit of the company which can be further
used for expansion of the business. More over Wings Biotech being an existing brand
in the market has to also understand the importance of building a potential and
sustainable brand name in the market, this could be done through marketing the
products aggressively and expanding the customer base.
It was very shocking to see that 8% of customers said that manufacturing is of no use,
maybe they may not have understood the question properly.
7. Do you think that Wings Biotech manufactures quality products?
(a) strongly agree (c) strongly disagree
(b) agree (d) disagree
(e) neutral
Wings Biotech according to the respondents manufactures best quality products in the
entire market (34%) plus the ones who agree (18%) that tends to be 52% of the total
people surveyed.
some of them believed that the company needs to improve on the quality of the
products and the similar fraction was of those who were neutral on this question .
8. What according to you can be other scope of improvement that can be
used by Wings Biotech?
(a) quality (c) Marketing
(b) price reduction (d) other
Customers belived that the company should focus on marketing for its growth , these
marketing methods could be through internet, mails, advertisements and other
sources. this was a major fraction i.e. 39%. While others think that the company
should reduce its price of the products which might lead to increase in sales volume
and resulting in higher profits.
Some thought that the quality needs to be improved. and other 12 % believed that
there were some other factors like changing the organizational structure, changing the
manufacturing process etc. would yield to better profits.
9. How much according to you Wings Biotech is willing and realistically able
to spend on eco friendliness?
(a) 0 to 10% of Revenue (c) 20% to 30% of Revenue
(b) 10% to 20% of Revenue (d) 30% to 40% of Revenue
Every company needs to improve on the eco friendliness of the product, this is a way
of societal marketing also called green marketing. A proper budget helps in
effectiveness of the marketing schedule. 48% of the respondents agreed to the point
that Wings Biotech should invest about 20% to 30% of their revenue in eco
friendliness because they need to build a brand name and to do that it takes a lot of
funds and resources. While 25% people have a view that a little less amount can also
do the needful.
10. What according to you is the impression of the packaging by Wings
Biotech?
(a) Funny (c) Informative
(b) Interesting (d) Boring
When the respondents were questioned regarding the effectiveness of the current
packaging, 42% of them said that the packaging is informative and provides
knowledge about the product. 33% agreed that the packaging was interesting enough
and would attract customer's attention towards the product. On the other hand 18%
and 7% respondents respectively replied that packaging was funny and boring and
needed changes.
FINDINGS
Company should give more importance in Brand Building.
o Brand equity and Brand awareness should be created.
o Prices should go with the volume and according to the competitors.
Dealer oriented schemes giving moral boost should be encouraged on par with
other companies.
100 % Transparency and accuracy in transactions to dealers should be made
available from time to time.
o Logistic arrangements should be assured to dealers/ consumers for
intercity movements.
o Confidence building measures should be periodically under taken.
The survey showed that 30% of the people who were surveyed strongly agree
to the option that Wings Biotech possess relevant resources to sell out their
product that is Allopathic medicines.
Existing company in the market and having high competition, the respondents
agreed to a certain level that the easy availability and quality of the products is
the main and leading beat selling point.
Being a manufacturing firm it is very important for the company to set their
preferences in regard to target audience.
Then main focus is on sales promotion of the products, later comes the use of
internet to advertise and market the product so as to grow public relations with
more and more customers which in turn will be a great help increasing the
turnover of the company.
Marketing and proper advertisement will also make the customers aware of
the products and will provide them with the knowledge.
Packaging of the product is informative but needs to be improved by the
company as few people think that its funny and boring.
RECOMMENDATIONS
Wings Biotech is in highly competitive market and therefore has to necessarily
preparing the entire costing with an intention to provide the best goodwill.
I have seen the attitude and style of the working of this company’s people is
very good and target oriented. They are full of zeal to work for the
organization which is a good sign for the development of the company.
Even in this recession period when most of the companies are struggling to
survive this company is one of those strong companies which is not only
stable but making huge profits.
Company should aggressively involve itself in marketing of the products
which would help in increasing the sales.
CONCLUSION
Overall the company seems to have better manufacturing facilities, and many high
tech machines that enable the products to be produced at lower cost and better quality.
But because of the high competition in the market, the company needs to improve on
several aspects such as availability of the product.
The company only caters a huge market in ruler and urban part of India and is going
to start exporting in few Asian countries.
The company is having government tested and certified products, also has certificate
from the WHO that shows our product is tested on the bases of WHO standards.
QUESTIONNAIRE
1. Do Wings Biotech has enough resources to sell their products?
(a) Strongly Agree (c) Disagree
(b) Agree (d) Strongly Disagree
2. What according to you is the product’s best selling point?
(b) Cheap (c) Easy availability
(b) Quality (d) Others
3. What is the target audience for Wings Biotech?
(c) High income group (c) Lower Income Group
(d) Middle Income Group (d) All
4. Where does Wings Biotech sells their products?
(a) In a business premise (c) Through Chemist
(b) Through Agents (d) Through business sources
5. What Does the Manufacturing strategy of Wings Biotech?
(a) Automation (c) High tech machines
(b) In house laboratory (d) Quality tests
(e) All of the above
6. How can manufacturing help increase in sale for Wings Biotech?
(a) Increase in profit (c) Building a brand name
(b) Increasing customer knowledge (d) No use
7. Do you think that Wings Biotech manufactures quality products?
(a) Strongly agree (c) Strongly disagree
(b) Agree (d) Disagree
(e) Neutral
8. What according to you can be other scope of improvement that can be used by
Wings Biotech?
(a) Quality (c) Marketing
(b) Price reduction (d) Other
9. How much according to you Wings Biotech is willing and realistically able to
spend on eco friendliness?
(a) 0 to 10% of Revenue (c) 20% to 30% of Revenue
(b) 10% to 20% of Revenue (d) 30% to 40% of Revenue
10. What according to you is the impression of the packaging by Wings Biotech?
(a) Funny (c) Informative
(b) Interesting (d) Boring
BIBLIOGRAPHY
WEBSITES
www.google.co.in
www.wingsbiotech.com
www.wikipedia.com
http://www.wingsbiotech.com/division/otc
http://www.wingsbiotech.com/division/consumer_care
http://www.wingsbiotech.com/division/lifecare
NEWSPAPER & MAGAZINES
India today
Times of India
Hindustan Times
Business Today
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