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DECLARATION
I hereby declare that the Summer Internship Project report entitled
“MARKET POTENTIAL OF ALCOVE TECHNOLOGIES Pvt. Ltd. IN
NAGPUR” is an authentic work carried out by me under the guidance of Prof.
ABHISHEK MUKHERJEE, Faculty, Magnus School of Business, Nagpur
which is submitted for the partial fulfillment for the award of Master of
Business Administration. This project is carried under the assistance of my
company guide Ms. Rashmi.
I further declare that the project carried by me is true to the best of my
knowledge and no one else has submitted this project for the award of any
degree or diploma to any other university.
Date: Chandrashekhar Gajbhiye MBA Semester – II
Place:
ACKNOWLEDGEMENT
Successful and satisfactory completion of any significant task is the
outcome of invaluable aggregate contributions made by people from varied
fields from various radical directions explicitly or implicitly
First and foremost I would like to convey my sincere thanks to Prof.
Abhishek Mukherjee, Faculty Member, Magnus School of Business, Nagpur not
only for his valuable guidance but also for the unending encouragement that he
has given, for the successful completion of this project.
I am grateful to Mr. Mrutyanjay Pimplapure, Sr. Executive, Corporate
Relations Group, MSB, Nagpur for procuring this project, and providing the
facilities required for the completion of this project.
I would like to sincerely thank Ms. Rashmi, Marketing Manager, Alcove
Technologies Pvt. Ltd. and Mr. Ravi Rao, Chief Executive Officer, Alcove
Technologies for their valuable guidance and exposure of the corporate world.
My heartfelt thanks to all the members of Magnus Family and Alcove
Technologies Pvt. Ltd. for supporting me in the successful accomplishment of
this project.
Last but not the least I would like to thank my parents for encouraging
and supporting me and helping me in achieving pinnacle of success.
Chandrashekhar Gajbhiye
ABSTRACT
In today’s scenario Nagpur is booming in various sectors like IT, Insurance, Banking,
Pharmaceuticals, and Engineering with respect to educational and industrial facets. With the
advent of MIHAN (Multimodal International Hub At Nagpur) project their is tremendous
scope of Human resources in all sectors. To fulfill the requirements of various sectors and to
establish the firm in new market the study of market potential is required. The Summer
Internship Project topic “Market Potential of Alcove Technologies at Nagpur is helpful to
find out the following important aspects:
Potential Market: - It is a set of consumers who evinces interest in the marketers offer.
Target Market: - This is also called served market and refers to the market segment which a
firm chooses to serve. E.g. IT industries, banking sectors.
Market Penetration:- Market penetration refers to the number of clients /firms a company is
looking for to the no. of clients present in the target market. This ratio indicates the
opportunities for growth in the target market. By this topic Alcove Technologies may plan to
come up with strategies to exploit market potential and go for opportunities present in the
target market.
The topic is useful to find out the attraction of the client:-
i) Interest in the services provided by alcove tech. in nagpur.
ii) Income to be able to afford the services in nagpur market
iii) Access to the service/product
Market potential is the limit approached by the market demand as the industry’s marketing
expenditures approach infinity, for a given environment, in other market. In other words
market potential refers to the upper limit of market demand. There are three aspects involved
in defining market potential of Alcove Technologies at Nagpur
a) Defined market environment of nagpur
b) Marketing expenditure by the industry in nagpur
c) Market demand
1.1 INTRODUCTION OF MARKET POTENTIAL
MARKET POTENTIAL
MARKET
Market refers to a set of existing and potential buyers of a product/service.
POTENTIAL MARKET
This is set of consumers who evince interest in marketer’s offer.
TARGET MARKET
This is also called served market and refers to the market segment which a firm chooses to
serve
MARKET PENETRATION
Market penetration ratio refers to the total number of such consumers to the total number of
consumers’ in the target market. This ratio indicates the opportunity for growth in the target
market.
MARKET POTENTIAL Market potential is the limit approached by the market demand as the industry’s marketing
expenditures approach infinity, for environment.
THREE ASPECTS INVOLVED IN MARKET POENTIAL
a) Defined market environment
b) Marketing expenditure by the industry
c) Market demand
In this way the topic is helpful to alcove technologies to find out various factors to
establishing the firm in nagpur
MARKET DEMAND
Market demand refers to the, “total volume that would be bought by a defined time period in
a defined time period in a defined marketing environment under a defined marketing
programme”.
MARKET FORECAST
COMPANY DEMAND
This refers to a company’s share of the total market demand. It is subject to all the
determination of market demand plus the determination of the company’s market share.
COMPANY POTENTIAL
Company potential is the approached by company demand as its marketing effort increases
relative to its competitors. The absolute limit to this potential is the market potential and this
will be so only in a monopolistic situation.
SALES FORECAST
Sales forecast refers to the estimates of future sales of the company’s products. In a way, this
is the same as company demand.
MARKET POTENTIAL AND MARKET SIZING ANALYSIS
Market analysis services from Mapping Analytics help you know the economic opportunity
available to you in any geographic market. Whether you sell to consumers, to businesses, or
both, market sizing provides intelligence you need to deploy sales and marketing resources
effectively.
BENEFITS OF MARKET POTENTIAL ANALYSIS
Understand market potential for a single store, network of stores or a new market
Deploy resources effectively by ranking markets in priority order
Forecast total opportunity in terms of number of customers and revenue potential
Estimate your market share
Market: - This is often confused to imply a place where buyers and sellers meet. In reality
market only refers to a set of existing and potential buyer of a product/service. Place is only a
facilitator. In today’s marketing solution where buyer buy on the internet or on cell phones
and get their order delivered at home, place has ceased to ever perform the facilitating role.
Sellers represent competition to the firm or the alternatives from whom the buyer buys.
Potential Market: - This is a set of consumers who evince interest in marketers offer. It
may be noted that interest alone is not enough they must also have means (income) to buy it
and the offer should be accessible to them.
For e.g. Potential market of luxury homes are all consumer in the high income and
rich segment that have the resources to buy them. Also upper middle income and rich
segment who have the finance and the aspiration to acquire such a home are the potential
consumers. Now if these homes are made in all cities by several builders, it provides
opportunities for such a consumer- to own such a home. Thus, today it is the means (i.e.)
resources access and aspiration that define a potential market, for any Marketing offer.
Target Market: - This is also called as served market and refers to the market segment
which firm chooses to serve. Thus, in the above example of luxury homes, a builder may
choose to target, young professionals in major cities who have the resources or access to
resources and also aspire to own such a house.
Market Potential Ratio: - It refers to the set of consumers in the target market who have
bought luxury homes. Market penetration ratio refers to the total no. of such consumers to the
market. This ratio indicates the opportunities for growth in the target market. Other marketing
mix decision will be based on this decision.
Market potential:-
The forecasting exercise involves understanding market potential. Consider the example of a
product such as TV set. To estimate potential for T.V. set in India. We have to know no. of
household assuming that each household will have a TV sets, we can say that the market
potential of TV set is equal to no. of household in the country, and if we assume that six
people constitute a household, we have about 142 million households. Ideally, this is the
market. But then, we know that 25 percent of Indian Population is below the poverty level
and hence will not be able to buy TV sets. Besides almost 40% of Indians are in the low
income group and given the prices of TV sets, they too may not be afford it. So one is left
only 35% of total population which is the real market that need to be targeted one might ask
why this so? The answer lies in the fact that the size of any market is based on the no. of
buyers who might exist for a particulars marketing offer.
These buyers need to have three characteristics.
a) Interest for the product
b) Income to be able to afford the product
c) Access to the product
Based on these characteristics we have arrived; in the above example of television sets, at the
conclusion that 35% of total Indian population is the size of total market. The Market
Potential is the limit approached by the market demand as the industry marketing expenditure
approach infinity for a given environment.
In other words, market potential refers to the upper limit of Market demands.
Three aspects involve in defining market potential.
Defined market environment
Marketing expenditure by the industry
Market demand.
1.2 INTRODUCTION TO COMPANY
In company’s chosen lines of services offerings, company strives to be a leader
in service delivery, client satisfaction, professionalism, superior quality and innovation.
Alcove is an enabling company through its solutions and services. Alcove’s mission is to
assist global organizations to transform their business to next level of maturity.
A world class team of software and BPO professionals and engineers who have
been educated at the best universities in India and abroad are Alcove’s biggest asset.
Together, they bring expertise in information technologies, software design and project
management, business domain skills and client delivery and relations expertise.
Alcove also believes that company has the ability to source skills from multiple
locations, benefit their client organizations, and they are certain that their rates will help the
clients to achieve their goals of reducing the cost of application development and
maintenance.
Alcove is a leader in each technology domain and business domain. Those who
have been leaders are assisted by large pool of resources to deliver the software applications
and providing Systems Maintenance and support activities. Alcove Technologies have set up
and managed a large Offshore Development Center (ODC) in the past.
Alcove has delivered projects and services with CMM Level 5 / ISO 9001
Quality standards, managed large customer relationships/ business development /
organization & team building.
The word ‘Alcove’ is derived from a Latin word which means niche or special.
Alcove Technologies Pvt. Ltd. is a multi-faceted organization providing the following
services to its world-wide clients.
Information Technology.
Business & Knowledge Process Outsourcing.
Recruitments, Staff Augmentation, Temporary Staffing.
Corporate Training.
Alcove services are managed by seasoned professionals and industry experts with decades of
experience in delivering strategic value to our global customers. Alcove’s professional
services team have served global organizations and delivered multiple complex projects in
each line of company services.
Alcove is recognized for its ability to provide thoughtful and efficient services based on an
intimate knowledge of company’s clients, business needs. Company strives to ensure their
clients, retain their competitive edge in the market place with their strong emphasis on quality
assurance, efficient processes, cost effective services and well qualified people.
Alcove has its objectives to provide cost effective and high quality solutions and services
using leading edge technologies through its secure state of the art facilities and infrastructure
to undertake large client projects in each of their service lines
VISION
In our chosen lines of business, we strive to the leader in service delivery, client
satisfaction, professionalism, superior quality and innovation. We aim to architect, develop
and implement state of the art and creative solutions and services for our global clients.
Our teams combine technical excellence with a superior understanding of clients
varied business needs and the environments in which they operate and delivery solutions and
products that exactly meets their requirements. We are committed to partnership with our
clients that add value and consistently exceed their expectations.
MISION
Alcove is an enabling company, through its solutions and services. Alcoves mission
is to assist global organization to transition their businesses to next level of maturity.
In carrying out its mission, Alcove aims to;
Assist our clients in transformation of business practices and processes in order to
establish and use secure, robust and efficient IT systems and Business processes
Provide state of the art, efficient and cost effective business solutions, computer
applications and related services and infrastructure support
Be a catalyst and a facilitator that integrates different stakeholders interests,
technologies and service providers, in order to develop sound business solutions for
mutual benefit
Adhere to and promote international best practices, standard and principles for the
benefit of our client organizations.
Alcove can ramp-up a large pool of skilled manpower on diversified platforms and
operating environments with extensive experience in software development, software
migration and product maintenance and support at short notices, if a client wants a quick can
be replicated at Alcove premises as required for a project.
Alcoves Human Resources (HR) philosophy, policies, and practices are built based
on outstanding employee relation management. The objective is to have the skills and staff to
support predictive, demand driven requests and needs for supporting our customers.
1.3 INTRODUCTON OF IT INDUSTRY
The computer systems design and related services industry is among the economy's
largest and fastest sources of employment growth. Employment increased by 616,000 over
the 1994-2004 periods, posting a staggering 8.0-percent annual growth rate.
The projected 2004-14 employment increase of 453,000 translates into 1.6 million
jobs, and represents a relatively slower annual growth rate of 3.4 percent as productivity
increases and offshore outsourcing take their toll. ("Industry output and employment
projections to 2014" by Jay M. Berman, Bureau of Labor Statistics).
However, the main growth catalyst for this industry is expected to be the persistent
evolution of technology and business' constant effort to absorb and integrate these resources
to enhance their productivity and expand their market opportunities.
Employment of computer and information systems managers is expected to grow
between 18 to 26 percent for all occupations through the year 2014. (Career Guide to
Industries 2006-07)
1.4 NEED OF THE STUDY
The project was undertaken basically by keeping in mind the best possible use of
available resources of Alcove technology covering predominantly, the study of the present
market potential of Alcove technology. The main reasons are
i. To study the Market Potential of Alcove technology in Nagpur in detail.
ii. How to increase the awareness of the Alcove technology in the corporate of
Nagpur?
iii. To ease the paper burden of staff by providing them information in the form of
compact disk.
iv. Increase the success rate for converting the positive clients into the loyal
clients of company in shortest possible time.
v. Study and suggestions for problems identified in market while going in
corporate.
vi. Analysis and rational assessment of job related knowledge.
vii. To search clients for the company so that company provide staffing solutions,
IT solutions, Recruitment and conduct training program.
1.5 AIMS AND OBJECTIVES
AIM:-
Market Potential of Alcove Technologies Pvt. Ltd. at Nagpur.
OBJECTIVES:-
1. To increase the sales of Alcove technology services and product by using marketing
communications such as Advertising branding, direct marketing, graphic design,
marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales
promotion, and online marketing.
2. To increase the awareness of the Alcove technology in the corporate of Nagpur.
3. To analyze the impact of promotion on customer buying behavior which help the
marketer for getting clients to avail an organization’s product and services to remain a
loyal long-term clients.
4. To study the market potential by analyzing the factors which govern the
Market Potential through identifying the market.
5. To study and understand Training and Development program of Alcove tech. pvt .ltd
6. To study different stages in training and development process along with identifying
Market Potential.
8. To suggest appropriate guidelines to Alcove to approach client.
1.6 VALUE ADDITION TO SELF AND COMPANY
In the final part of project, the responses and experienced opinions from companies and
managers are taken which proves to be very effective in providing services and the product. Their
rational analysis is done accordingly which clearly depicts the need of services and product to
improve performance. Some more suggestions are given at the end which I feel to be implemented
for improving overall performance of company.
As far as the researcher is concerned the in-depth study of market potential will be very
helpful in near future to company for solving the problems which arise while serving for their
clients. Also the understanding the clients’ choices will help immensely to know the clients
perception. The factors which were discussed in detail in the report are equally important.
While implement it in practical manner. It will definitely enhance the performance as well
as the image of the company.
This study gives me exposure of the corporate world which help me to enhance my
communication skills, leadership quality, persuasion and it helps to increase my creativity.
During my tenure at Alcove technology the researcher helped to provide service and the product worth approximately 3, 50,000 Rs. That is definitely a most beneficiary thing for the company during this period and also for me. It helps me to check my selling prospective.
Company has got new client for various services by which company can give service
to those client with satisfaction. During the project researcher has maintained relation with
Client Company. And gathered information of training program which followed by other
companies.
2.1 MARKET POTENTIAL MARKET
Market only refers to a set of existing and potential buyers of a product/service.
POTENTIAL MARKET
This is set of consumers who evince interest in marketer’s offer.
TARGET MARKET
This is also called served market and refers to the market segment which a firm chooses
to serve
MARKET PENETRATION
Market penetration ratio refers to the total number of such consumers to the total number
of consumers’ in the target market. This ratio indicates the opportunity for growth in the
target market.
MARKET POTENTIAL Market potential is the limit approached by the market demand as the industry’s marketing
expenditures approach infinity, for environment.
MARKET DEMAND
Market demand refers to the, “total volume that would be bought by a defined time period in
a defined time period in a defined marketing environment under a defined marketing
programme”.
2.2 MARKET FORECAST
COMPANY DEMAND
This refers to a company’s share of the total market demand. It is subject to all the
determination of market demand plus the determination of the company’s market share.
COMPANY POTENTIAL
Company potential is the approached by company demand as its marketing effort
increases relative to its competitors. The absolute limit to this potential is the market
potential and this will be so only in a monopolistic situation.
SALES FORECAST
Sales forecast refers to the estimates of future sales of the company’s products. In a way,
this is the same as company demand.
2.3 MARKET POTENTIAL AND MARKET SIZING ANALYSIS
Market analysis services from Mapping Analytics help you know the economic
opportunity available to you in any geographic market. Whether you sell to consumers, to
businesses, or both, market sizing provides intelligence you need to deploy sales and
marketing resources effectively.
BENEFITS OF MARKET POTENTIAL ANALYSIS
Understand market potential for a single store, network of stores or a new market
Deploy resources effectively by ranking markets in priority order
Forecast total opportunity in terms of number of customers and revenue potential
Estimate your market share
Market: - This is often confused to imply a place where buyer and sellers meet. In reality
market only refers to a set of existing and potential buyer of a product/service. Place is only a
facilitator. In today’s marketing solution where buyer buy on the internet or on cell phones
and get their order delivered at home, place has ceased to ever perform the facilitating role.
Sellers represent competition to the firm or the alternatives from whom the buyer buys.
Potential Market: - This is a set of consumers who evince interest in marketers offer. It may
be noted that interest alone is not enough they must also have means (income) to buy it and
the offer should be accessible to them.
For e.g. Potential market of luxury homes are all consumer in the high
income and rich segment that have the resources to buy them. Also upper middle income and
rich segment who have the finance and the aspiration to acquire such a home are the potential
consumers. Now if these homes are made in all cities by several builders, it provides
opportunities for such a consumer- to own such a home. Thus, today it is the means (i.e.)
resources access and aspiration that define a potential market, for any Marketing offer.
Target Market: - This is also called as served market and refers to the market segment
which firm chooses to serve.
Thus, in the above example of luxury homes, a builder may choose to
target, young professionals in major cities who have the resources or access to resources and
also aspire to own such a house.
Market potential ratio: - It refers to the set of consumers in the target market who have
bought luxury homes. Market penetration ratio refers to the total no. of such consumers to the
market. This ratio indicates the opportunities for growth in the target market.
Other marketing mix decision will be based on this decision.
Market potential:-
The forecasting exercise involves understanding market potential. Consider the example of a
product such as TV set. To estimate potential for T.V. set in India. We have to know no. of
household assuming that each household will have a TV sets, we can say that the market
potential of TV set is equal to no. of household in the country, and if we assume that six
people constitute a household, we have about 142 million households. Ideally, this is the
market. But then, we know that 25 percent of Indian Population is below the poverty level
and hence will not be able to buy TV sets. Besides almost 40% of Indians are in the low
income group and given the prices of TV sets, they too may not be afforded it. So one is left
only 35% of total population which is the real market that need to be targeted one might ask
why this so? The answer lies in the fact that the size of any market is based on the no. of
buyers who might exist for a particulars marketing offer.
These buyer need to have three characteristics.
d) Interest of the product
e) Income to be able to afford the product
f) Access to the product
Based on these characteristics we have arrived; in the above example of television sets, at
the conclusion that 35% of total Indian population is the size of total market. The Market
Potential is the limit approached by the market demand as the industry marketing
expenditure approach infinity for a given environment.
In other words, market potential refers to the upper limit of Market demands.
Three aspects involve in defining market potential.
a) Defined market environment
b) Marketing expenditure by the industry
c) Market demand.
Consider that the TV industry decides to cut its costs and that many manufactures
plan a new financial scheme, with no cash down payment, low interest rates and
payment through 24 monthly installments.
The government also reduce the excise duty on TV sets and customs duty on kits and
components use in TV manufacturing and more regional language multiple interest chances
are launched. All these have the effect of pushing up the market potential as new customer
groups will now be able to afford the product. Recession, on the other hand, sees a decrease
in sales. In fact they exist the product market and market potential reduces thus environment
plays a key role in Market Potential estimation.
Sales
Planned expenditure
Q2 Market potential
Q3 Market Forecast
Q1Market Minimum
E
Industry Expenditure on Marketing
(a)
(a) Marketing demand as a function of industry marketing expenditure
Industry Expenditure on Marketing
(b)
Marketing demand in two different Marketing Environment
Fig. Market Potential Demand and Forecast
Source:- Saxena Rajan ‘Marketing Management’ Market Measurement and forecasting,
Tata McGraw hill publishing company, third edition; chapter 10 page no.232
Defining Market Potential Analysis
Market potential analysis is a strategic tool to identify market
opportunities and to make resource investments in markets where they
will have the greatest return in the long run. Market potential analysis is not
used for short-term forecasting, but can help to target markets with high growth potential in
the mid to long term. Market potential analysis enables companies to:
Sales Boom Sales
Recession
Q2 Market potential(Boom) Q1Market potential(Recession)
• Categorize countries that are lead markets or potential growth markets.
• Identify growth drivers and barriers in those markets.
• Quantify market potential for a given product or service by country or region.
2.4 MARKET POTENTIAL FACTORS
The many forces that influence market potential can be
categorized into two broad sets: demand drivers and inhibitors.
Demand Drivers
Demand drivers are the factors that affect the size, readiness
or exploitability of markets. Three are especially important. The first is
the size and wealth of a market. This is not a simple calculation, and
average figures such as total population and GDP per capita offer only a
starting point. Other factors include household income distribution and the
structure of the business sector. Household income distribution
determines the number of potential consumers as higher income
households usually spend more on computing products. The structure of
the business sector determines the number of potential business
customers as some sectors such as financial services have more inherent
demand for computing than others. Much of the value of market potential
analysis comes in calculating accurately the number of potential
Demand drivers for IT
Fig. 2.3 (a) Demand drivers for Market Potential
• The second is the utility of a product in a particular market. This varies
according to the nature of the product and the characteristics of the
market. For instance, the utility of a Chinese-language news service will
depend on the size of the Chinese-speaking
population in a country while utility of an online gaming service will
depend on the
number of video game fanatics in the country.
• The third demand driver is the supporting infrastructure for a
product. For information and communication products, the necessary
infrastructure can include telephone lines, wireless networks, Internet
service providers, and human resources such as skilled programmers,
technicians and users.
Demand Inhibitors
Market potential in a given country can appear to be high, but actual
demand remains low. This is usually due to the presence of demand
inhibitors that either raise the cost or lower the utility of a product. Some
inhibitors such as tariffs are explicit and can be quantified, while others
are less visible and can only be identified through in-depth knowledge of a
country. For example, management cultures that favor personal
relationships rather than digital interaction, government Size and Wealth
Utility Information Infrastructure restrictions on technology use,
incompatible standards, and consumer indifference or resistance can
inhibit demand for high-tech products and services.
Market potential customers there are for a given product.
2.4 STEPS IN MARKET POTENTIAL ANALYSIS
Market potential analysis involves four components:
1. Top down analysis of market potential size by region, country
2. Analysis of the dynamics of market potential over time
3. Analysis of how income distribution affects market potential
4. Analysis how shifts in income distribution affect market potential
2.5 PROJECT MANAGEMENT METHODOLOGIES
Professional Project Management is the key for successful execution of any project to control the
cost, schedule integrity, and quality deliverable. Recognizing this fact, the Quality Management
System (QMS) forms an important component of Project Management process at Alcove.
The Project Management processes at Alcove encompass the entire span of the project's life
cycle i.e. Project Initiation, Project Planning, Development and Support, Installation,
Implementation, Progress Monitoring User Acceptance, Training and Project Wind-up.
Fig.Projec
t management/Execution Methodology
Project Management Tools
Project Management Methods (PMM) are founded on the Project Management Institute
principles, and are standardized across all Projects to ensure seamless and effective project
management of onsite, offshore and blended applications development and maintenance
initiatives. The PMM includes the following functions which are used consistently across
projects.
Project Scheduling, Cost and Resource Planning
Risk Management Planning
Quality Assurance
Communication Planning
Project Effort & Cost Estimating
Project Tracking and Control
High utilization of Technical resources
In support of these project management functions, Alcove also utilizes
project management tools such as Microsoft project, Lotus work bench etc. which
automates generating work breakdown structures, estimating, scheduling, tracking and
harvesting intellectual capital. These tools also enable us to provide a customizable,
turnkey project management repository for standard procedures, forms and ongoing
project records
Application Management and Migration Processes will be utilized to ensure smooth
start-up, migration and ongoing project support operations. Alcove consultants’ expertise
in Transition and Transformation Methodologies guides the Alcove’s project teams from
project initiation through steady state. The Transition methodology includes five critical
migration steps which contain activities, roles, resources, milestones and work product
guidelines. The major migration steps are:
Overall Migration Planning
Application Migration Planning
Training and Perform
Parallel Production
Application Cutover
Steady State
Each stage is gated with quality checkpoints that ensure effective transition of an application
through the process.
2.6 Project Planning Methodologies
Project planning includes quality assurance and risk management:
3 RESEARCH METHODOLOGIES
Area of Work: Researcher has selected Nagpur as area of work where corporate companies
can be taken into consideration. The researcher has to decide the method to be used, which
help him to get a designed direction in a systematic way. This study was done in the
following manner.
RESEARCH PROCESS
Fig. Phases of the research Process
Defining the problem
Defining the new problem
Planning a research design
Planning a sample
Gathering the data
Processing andAnalyzing the data
Formulating conclusions and preparing the report
And so on
3.1RESEARCH OBJECTIVE
The objective of this survey is to find out Market potential for Alcove in Corporate structure
and corporate culture, the researcher is keen in knowing the perception of corporate structure
and on corporate structure.
3.2 QUESTIONNAIRE DESIGN
The questions designed in an easily understandable way that the respondents may not
have any difficulty in answering them.
The questionnaires also contained a suggestions also contained a suggestion section. This
section was included so as to get opening of the as to how communication can further be
improved. The questionnaire basically seeks four types of information about respondents.
What is sampling?
Sampling can be defined as a part of population. Sampling may be defined as the selection of
a question from the whole population in which each elements of the population has an equal
chance of being selected. A more please definition is that each element in the population has
a non zero and known probability of selection a randomly sample.
Sampling is an essential part of market research. Process Tool &Techniques included in the
study of the data collection is divided on the basis of the sampling technique.
Sampling is the selection of suitable sample from the population. The survey can be conduct
into two ways the data can be gathered from which represented the population in all
responses.
3.3 Data Collection
The tools & techniques in the study of data collection is divided into two categories.
1) To collect primary source of information for the study of main objective. A
questionnaire was prepared which included question related to objectives covered in
the study. The sources of information were the concerned authorities.
2) Secondary data was collected from the books of marketing like marketing
management magazines and various other articles by renowned authors. Internet sources
are the major contributors in secondary data collection
3.4TYPES OF SAMPLING: USES, METHODS AND POTENTIAL PROBLEMS
Random sampling
Simple random sampling: a group of people are selected at random from a complete list or
map of a given population.
Uses: where true random sampling is essential.
Method: One method is to take the list or map and give each unit a number, write the
numbers on individual slips of paper, put them in a bag and mix the slips up thoroughly, and
then draw out the number of slips required. Alternatively a random number table can be
used. If no suitable list or map exists, it may be possible to use participatory methods to solve
this problem.
Potential problems: may be very costly particularly where populations are geographically
dispersed and/or individuals are difficult to trace because of for example marriage or
migration. Even apparently complete lists may systematically exclude some relevant
categories of respondent. In particular lists of registered entrepreneurs are likely to exclude
women in enterprises. Conversely lists of female credit beneficiaries may not be a reliable
basis for selection of credit users. Whether or not this matters will depend on the nature of
the inquiry.
Systematic random sampling: a group of people are selected in a systematically random
manner from a complete list of a given population.
Uses: where very large numbers are included in the target population and simple random
sampling is difficult. Or where lists are already grouped into sections or classes.
Method and challenges: there are many possible systems e.g. by taking every tenth name
for every fifth name.
Potential problems: Similar to simple random sampling. It is also crucial that the system
selected does not bias the sample. For example selecting every tenth name from a list
compiled of groups of ten members where the first name in each group is that of the
President.
Stratified random sampling : when populations are divided into subgroups depending on
particular characteristics.
Uses: when the nature of the issues to be investigated means that it is important to give
respondents from particular subgroups an equal chance of representation and this would not
happen through random sampling.
Method: the relevant characteristics to be used for stratification are identified on the basis of
the questions to be asked e.g. membership or non-membership of an organization, female or
male members. A random list is then drawn up for each subgroup and respondents chosen
randomly within each.
Potential problems: the identification of the characteristics for classification of respondents
is crucial and may need to be refined during investigation.
Cluster sampling: where clusters are randomly selected and all individuals or households in
particular clusters are interviewed.
Uses: when the target population is very large and/or geographically dispersed making simple
random sampling extremely expensive and time-consuming.
Method and challenges: Clusters maybe geographical, for example villages or markets.
They may also be for example microfinance groups or particular social categories within
geographical locations e.g. all upper caste households.
Potential problems: It is important to ensure that important subgroups are not left out and
also to consider any potential bias in analysis. For example if all the clusters thrown out by
random selection are large villages, are the results likely to be different if some of the villages
have been very small e.g. because of few facilities or different social structure.
Random walk: when the interviewer follows a random route.
Uses: where no list exists from which a random sample can be selected using the above
methods.
Method: the interviewer follows specific random instructions e.g. take the first road right,
interview at the second house on your left, continue down the road, interview tenth household
on your right etc and interviews individuals as they are encountered.
Potential problems: Care must be taken to avoid bias e.g. by ignoring very small side
streets.
Staged sampling: where samples are selected within samples e.g. random sampling or walk
within a cluster.
Non-random sampling
Quota sampling: quotas for certain types of people or organizations are selected for
interview.
Uses: when the nature of the issues to be investigated means that it is important to give
respondents from particular subgroups a chance of being selected which is disproportionate to
their numerical strength e.g. where it is important to include a significant number of
respondents from minority populations, female entrepreneurs etc.
Method and challenges: The categories for which quotas are to be used and the quotas to be
allocated are determined based on the issue to be addressed. Common criteria are age,
gender, occupation and whether people live in project or non-project areas. The quotas are
fixed depending on the types of issues to be investigated but respondents within each quota
category are selected randomly.
Potential problems: The categories on which quotas are based are crucial and may need to
be refined as the investigation progresses.
Purposive sampling: similar to quota samples but where respondents within each quota are
selected to represent diversity.
Uses where it is particularly important to explore the range of different potential impacts eg
ensuring that the quota for women includes a selection of single women, very old women, a
literate woman and so on.
Method: selection of respondents is based on prior analysis and hypotheses of the different
possible types of impact on different stakeholders.
Potential problems: it is important to be continually reflexive in response to information as
it is obtained to ensure that diversity is properly understood and captured.
Chain sampling or snowballing: A first contact is selected and interviewed and then asked
to suggest other interviewees and so on.
Uses: This method is useful for identifying minority groups or occupations within
communities.
Method: it is important that all suggested interviewees are followed up in order to avoid bias.
Questions may be cumulative to build up a complete picture of the particular population
under study.
Potential problems: The chain may be biased because of the particular networks chosen.
This can be overcome through probing investigation and/or combining with eg a random
walk or selecting a number of such chains by another random method.
Genealogy-based sample: entire families and their relatives may be selected.
Uses: where it is important to include a cross-section of the community by age and sex and
where costs do not permit use of a random sampling frame and/or no available map or list
exists.
Method: The assistance of the first respondent is used to draw up a genealogy and then each
member is followed up as in chain sampling.
Potential problems: In some contexts stratification between families or particular cultural
characteristics of particular kin groups means that there are more similarities between family
members than members of different families. Here considerable care needs to be taken to
ensure that the selection of families is representative.
Matched samples : similar pairs of villages, projects or types of respondents are selected in
order to compare them.
Uses: where it is important for control groups to be equivalent in size.
Method:
Potential problems: it is crucial to bear in mind possible ways in which the matched samples
may differ and the problems involved in selection of any control group.
Repeat sampling methods
Repeat survey: where the entire survey processes are repeated, including the sampling.
Uses: where data is needed to capture seasonal variations or before and after situations and
where complete random sampling is needed.
Method: A very similar questionnaire must be used each time, although some questions may
be adapted e.g. to particular seasonal circumstances.
Potential problems: a large sample size is needed to make accurate comparisons over time.
Also changes over time may become confused with random changes in the sample used.
Panel or cohort surveys: the same sample of people or organisations is contacted several
times over a relatively long period.
Uses: where data is needed to capture seasonal variations or before and after situations but
where it is important to follow through processes over time and/or complete random
sampling is too expensive.
Method: Here questionnaires may be cumulative to build up case studies over time.
Potential problems: there may be problems of respondents' fatigue and drop out. Another
danger is that they may change the way they act because they are in the study.
Rotating survey: a combination of panel and repeat survey methods where one fraction of
the sample is changed each time the survey is repeated.
Uses: where data is needed to capture seasonal variations or before and after situations. This
avoids the problems of respondent fatigue and lessens the problems of random variations. It
also enables some processes to be followed through.
Method: Each interviewee is only interviewed a fixed number of times and then replaced.
For the repeat interviewee’s questions maybe varied to capture processes of change.
Potential problems: although this method combines the advantages of the two other
methods, it may also suffer from similar drawbacks.
Two types of sampling methods
1. Non Probability Method
2. Probability Method
In the study of Market potential of Alcove Technology the sampling method which
researcher used was purposive sampling which is a non probability sampling method.
According to the study the purposive sampling is required in the survey of area
because there are limited respondents.
Sample Size:-
The sample size of this research is all companies Nagpur out of which researcher chosen 150
companies’ .The researcher analyzed the views of Branch Manager and Human Resource
manager of companies & there views are taken in to consideration.
Chi-square test 2
Chi-square test enable us to test weather more than two population proportions can be
considered equal. Actually chi-square test allows us to do a lot more than just test for the
equality of several proportions. If we classify population in to several categories with respect
to two attributes (such as age and experience)
To test weather more than the two population proportion can be considered equal.
To determine weather the attributes are independence of each other
Chi-square as a test of independence
Many times we need to now weather the difference observe among several sample proportion
are only due to a chance. Suppose the campaign manager for a presidential candidate studied
three geographically different region and find that 35, 42, 52 percent respectively. Of the
votes surveyed in the three regions recognize the candidate name. If the difference is
significant, the manager may conclude the location will affect the way the candidate should
act. But the difference is not significant (that if the manager conclude that the difference is
solely due to a chance), then he may decide that the place chosen to make a particular policy
making speech will have no on the reception. To run the campaign successfully, then, the
manager needs to determine weather location and name recognition are independent
FACTS AND FINDING
Number of positive Response from the companies
SECTOR No. of companiesIT SECTOR 13INSURANCE SECTOR 7BANKING/ FINANCE 4PRODUCTION / MANUFACTURING 4REAL ESTATE 3HEALTH HOSPITALITY 3
SECTOR
IT SECTOR
INSURANCESECTOR
/BANKING FINANCE
/ PRODUCTIONMANUFACTURING
REAL ESTATE
HEALTHHOSPITALITY
From above graph it is shown that IT sector have given more response than
other companies.
Number of companies availing software services from the Market
25
20
10
52 3
9
0
5
10
15
20
25
No. of companies
sectors
Companies availing software services from the market
IT SECTOR
INSURANCE SECTOR
BANKING/ FINANCE
PRODUCTION /MANUFACTURING
REAL ESTATE
HEALTH HOSPITALITY
EDUCATIONINSTITUTIONS
The above graph depicted that IT sectors are availing maximum software Services from the market (i.e. 25 companies)
SECTOR No. of companiesIT SECTOR 25INSURANCE SECTOR 20BANKING/ FINANCE 10PRODUCTION / MANUFACTURING 5REAL ESTATE 2HEALTH HOSPITALITY 3EDUCATION INSTITUTIONS 9
Number of companies organizing training and development programme
INSIDE ORGANISATION 45OUTSIDE ORGANISTION 35
AT OTHER PLACE 20
From the above graph it is found that more companies are organizing training and development programme in Organizationi.e. 45 Companies.
NUMBER OF ORGANISATION CONDUCTING TRAINING AND DEVELOPMENT PROGRAMME
45%
35%
20%
INSIDE ORGANISATION
OUTSIDE ORGANISTION
AT OTHER PLACE
68%
32%
No. of institutions
positive response
SUGGESTIONS
Alcove technology should open their branch office in Nagpur.
Company should do the follow up of the prospective customers.
Company should concentrate more on Insurance/banking sector and IT sector as there
is very positive response from this sector.
Skills-audit could help in increasing the knowledge of the skills the organization has
available and those, which are lacking and thus help pinpoint areas for future
Company development.
Company should focus on advertising.
Company should do aggressive companioning.
LIMITATIONS
Time is limiting factor
Lack of proper feedback from the company.
Not proper follow up done by the company.
Area of work is also limiting factor.
Evaluation of training program was not implemented during project schedule.
CONCLUSIONS
Alcove technology has very good opportunity to launch branch office in Nagpur.
In Nagpur, Insurance and IT sector has potential market for Alcove technology.
By providing good service and maintaining properly relation with clients Alcove
Tech. Pvt. Ltd
APPENDICES
REFERENCES
1. www.alcovetech.com .
2. www.google.com
3. www.alcovetech..com
4. www.2.mwc.edu/ lpenwell/lectures/index.htm,
5. Quantitative Methods/chp-7/Sampling and Distribution/M.S.B/2007/pgs.81-85
/6. Quantitive methods/chp-11/Chi-Square and Analysis of
Varience/M.S.B/2007/page 81
7. Saxena Rajan ; “Marketing Management”; Market Potential;Tata McGraw-Hill Publishing Company Limited; Fifth Reprint Page No. 222-225.
BIBLIOGRAPHY
1. Brand Positioning: Strategies For Competative Advantage Second Edition by Subroto
Sengupta, Publisher Tata McGraw Hill
2. Marketing Management Third Edition By Saxsena, Publisher Tata McGraw Hill
3. Management Information System By Laudon, Publisher Pearson Prentice Hall
4. Marketing Research – An applied orientation 5th edition By Malhotra
5. Marketing Management – A South Asian Perspective By Kotler, Keller, Koshy, Jha,
Publisher Pearson Prentice Hall
6. Public Relations: Theory and Practice by Jane Johnston and Clara Zawawi (published -
April 1, 2004)
QUESTIONNAIRE FORMAT
Name of the firm/institution: ---------------------------
----------------------------------------------------------------
Name of the person: - ------------------------------------
----------------------------------------------------------------
Designation: - -----------------------------------------
Address: - --------------------------------------------
Contact No:- ----------------------------------------
E-Mail:- :- --------------------------------------------
1) Do you know about Marketing Services? □Yes □No
If Yes
2) Are you getting any services from the market?
□Yes □No
3) What type of services your firm avails from the market?
i) IT solution ii) Recruitment iii) Staffing
4) Is your firm purchase the software from the market or they developed their own?
□Yes □No
5) What type of software program are you implementing in your firm?
6) Do you have any contract with any consultancy in the Market? □Yes □No
7) If yes, are you satisfied, with the service?
□Yes □No
8) Are you satisfied with the charges incurred by the consultancy?
□Yes □No
9) Do you know about alcove technologies?
□Yes □No
10) If No, Alcove Technologies provide following services….
i) Information Technologyii) Business & knowledge process outsourcingiii) Recruitment, staff argumentation, temp staffing.iv) Corporate services.
11) Do you have any requirement related to above services.
□Yes □No
12) Do you provide training and development program to either,
□ Fresher □ Experience
13) Where do you arrange the training and development program?
□ within an organization □ Outside organization □ Other place
14) Do you have any contract with other consultancies with respect to training
and development?
□ Yes □ No
