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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. :- [email protected] Web site. :- www.orpatgroup.com Form of org. :- Pvt. Ltd. Co. Size :- Large Scale Industry Brand name :- ORPAT ELECTRONIC AJANTA QUARTZ REVA 1

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Page 1: ajanta orpat

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. :- [email protected]

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

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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

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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

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Market share in Telephone

Market share in Time Pieces

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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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