Industrial Skill-Based Training/Apprenticeship (BA116)

Report

Submitted in Partial Fulfilment of the requirement for the

Award of the Degree of
Bachelor in Business Administration (General)

by

Name: Vanshika Goyal

Enrollment Number: 52421201724

BATCH: 2024 - 2028

DEPARTMENT OF BUSINESS ADMINISTRATION

Maharaja Surajmal Institute
Recognized by UGC u/s 2(f), NAAC Accredited ‘A’ Grade
Affiliated to Guru Gobind Singh Indraprastha University, Delhi
C-4, Janakpuri, New Delhi-110058

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 Certificate

Vanshika Goyal
I, Mr./Ms._______________________________, 52421201724 certify that the
Roll No. ________________

Internship Report (Paper Code: BBA116) entitled “Industrial Skill-Based

Training/Apprenticeship” is done by me and it is an authentic work carried out by me. The

matter embodied in this has not been submitted earlier for the award of any degree or diploma

to the best of my knowledge and belief.

Student Signature

This is to certify that Project Report entitled “Industrial Skill-Based

Vanshika Goyal
Training/Apprenticeship” which is submitted by ________________________ in partial

fulfillment of the requirement for the award of degree Bachelor in Business Administration /

Bachelor in Business Administration to Maharaja Surajmal Institute

Affiliated to Guru Gobind Singh Indraprastha University, C-4, Janakpuri, New Delhi-110058

is a record of the candidate own work carried out by him under my supervision. The matter

embodied in this report is original and has not been submitted for the award of any other degree.

Signature of the Guide

Name of the Guide: Itti Hooda
Designation: Maharaja Surajmal Institute

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Completion Certificate

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 ACKNOWLEDGEMENT

A lot of effort has gone into this training report and for that I would like all
those who have contributed in completing this project.

First of all, I would like to send my sincere thanks to Ms.Vanshika Goyal her
valuable guidance during the internship and constant encouragement during
the completion of this project report.

Also, I am highly indebted and extremely thankful to Mrs.Itti Hooda ,

Assistant Professor, who as my guide was a constant source of
inspiration and encouragement to me. The strong interest evinced by her has
helped me in dealing with the problems I faced during the course of project
work.

I express my profound sense of gratitude to them for their timely help and co-
operation in completing the project.

Lastly, I would like to thank my entire beloved family & friends for providing
me monetary as well as non – monetary support, as and when required without
which this project would not have completed on time. Their trust and patience
is now coming out in form of this project.

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 CONTENTS
Description Page No.
Acknowledgement 4

Contents with page no. 5

Executive Summary 6

Introduction to topic 8

Objectives 19

Literature review 21

Company Profile 31

Research Methodology 34

Analysis & Interpretation 40

Findings & Inferences 51

Limitations 54

Recommendations and Conclusion 56

Bibliography 59

Appendices 61

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EXECUTIVE SUMMARY

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A marketing strategy can serve as the foundation of a marketing plan. A
marketing plan contains a set of specific actions required to successfully
implement a marketing strategy. For example: "Use a low cost product to
attract consumers. Once our organization, via our low cost product, has
established a relationship with consumers, our organization will sell
additional, higher-margin products and services that enhance the consumer's
interaction with the low-cost product or service."

A strategy consists of a well thought out series of tactics to make a marketing

plan more effective. Marketing strategies serve as the fundamental
underpinning of marketing plans designed to fill market needs and reach
marketing objectives. Plans and objectives are generally tested for measurable
results.

A clear marketing strategy should revolve around the company's value

proposition, which communicates to consumers what the company stands for,
how it operates, and why it deserves their business. This provides marketing
teams with a template that should inform their initiatives across all of the
company's products and services.

A marketing strategy is a business's game plan for reaching prospective

consumers and turning them into customers of their products or services.
Marketing strategies should revolve around a company's value proposition.
The ultimate goal of a marketing strategy is to achieve and communicate a
sustainable competitive advantage over rival companies.

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INTRODUCTION TO THE
TOPIC

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Meaning of Marketing:
Marketing is the activity of showing and advertising a company's products and services in
the best possible ways to the consumers and influencing them to buy their products and
services.

i. In order to take decisions any marketer would constantly monitor such

information and obtain continuous feedback of the trends in the market. As such,
marketing research is an effective tool for measuring the consumers’ aspirations,
trade channel behavior, competitive actions etc.

ii. It provides a linkage between the corporate environment and the marketing
organization. Marketing research, thus, may be viewed as an important tool used
as an aid for tackling problems in marketing.

Sales and Marketing Definition:

Marketing is the process of intentionally stimulating demand for and purchases of goods
and services; potentially including selection of a target audience; selection of certain
attributes or themes to emphasize in advertising; operation of advertising campaigns;
attendance at trade shows and public events; design of products and packaging to be more
attractive to buyers; selection of the terms of sale, such as price, discounts, warranty and
return policy; product placement in media or with people believed to influence the buying
habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts
to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically
conducted by the seller, typically a retailer or manufacturer. Sometimes tasks arecontracted
to a dedicated marketing firm or advertising agency.

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Advantages / Importance of Sales and Marketing:

Advantage: Keep Your Focus

If you're like many business owners, you're swamped and have many tasks vying for your
attention. Creating a marketing strategy will allow you to take a step back for a moment. It
will help you analyze and understand your message and how to effectively reach a larger
pool of prospective customers. It will give you a plan and a clearer focus. But keep in mind,
no matter what marketing strategy you use, if you don't have an effective sales funnel or
pipeline and optimize your conversions, you'll be leaving money on the table.

Advantage: Meet the Needs of Target Customers

An all-encompassing marketing strategy will keep you relevant in all the mediums your
customers engage. Developing an online and offline marketing strategy will help integrate
your business. If you have a brick-and-mortar store, consider selling products online. If you
have found success online, consider moving to a specific geographic physical location. A
marketing strategy gives you more control and allows you to diversify your sales channels.

Advantage: Helps You Discover What Makes Your Business

Unique
Building a brand is a crucial part of marketing. This is how you help your customers
understand why your product is better than a competitor's product, and why they should
shop with you, not someone else. Creating a marketing strategy will help you discover what
makes you different so you can map out a clear strategy to communicate those benefits.

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TYPES OF MARKETING

Social Marketing:

Social marketing is the application of commercial marketing principles to achieve a social

good. It began as a formal discipline in the 1970s, when Philip Kotler and Gerald Zaltman
published “social marketing- an approach to planned social change” in the journal of
marketing.

Principles of Social Marketing:

i. Efforts should be made to understand the customers, i.e. the people whose behavior is
sought to be changed. Their needs, motivations and fears should be analyzed by questioning
and listening to their viewpoints.

ii. The audience should be divided into sub groups to increase effectiveness of the social
marketing programs. People with shared needs and characteristics should be identified and
targeted with specific policies. For example, for a polio eradication campaign, parents with
young children below age of five would be the target group.

iii. The essence of social marketing is to bring about positive changes in people’s behavior.
The social marketing group should interact with the people, get involved with them and
encourage them to bring about changes in their beliefs and lifestyles. An effective
communication policy is very vital for making the people adopt changes.

iv. The forces which motivate people to act should be recognized. Plans should be
expressed to them in such a waythat it makes sense to the people and helps them understand
how this plan can benefit them or the society.

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Service Marketing:

Services are intangible economic activities that fulfil certain needs of a customer. Some
services are purely intangible in nature while some are associated with tangible goods.
Production and delivery of services is simultaneous, i.e., services cannot be stored and are
consumed at the point of sale. They cannot be seen or touched, but only experienced.

Examples of services are banking, insurance, hair dressing, catering, medical services, etc.
Services are very different from products and as such they need different strategies to be
successfully marketed.

Green Marketing:

Green marketing is the marketing of products in an environmentally friendly way. It

combines the satisfaction of consumer’s wants and needs with the conservation and
protection of the natural environment.

Green companies may produce goods that are environmentally friendly or adopt a
production method that is least damaging to natural resources. Green marketing is also
known as sustainable marketing.
The four elements of the marketing mix, i.e., product, price, place and promotion are
combined to market products that are environmentally superior to available substitutes.

The ecological benefits of green marketing may be in forms of reduced waste, decreased
emissions of toxins, better energy efficiency, etc.

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Holistic Marketing:

In the modern marketing world, organizations are looking beyond the traditional marketing
outlook and are recognizing the need to consider marketing as a comprehensive process, a
vital component of the broader economy and society. Holistic marketing enables the
company to view its marketing efforts as a “whole” and develop an overall complete
marketing plan.

The organization is not considered as just a single isolated entity, but as a constituent of the
overall business world and economy. Multiple perspectives on the company’s commercial
activities are developed instead of holding on to a one- dimensional approach. Holistic
marketing recognizes that when it comes to marketing, “everything matters”, and it is
necessary to have a broad integrated perspective towards all aspects of marketing.

Holistic marketing considers the whole business system while developing a marketing
strategy. The emphasis is not only on the products and services provided but also on the
people who are involved in creating and marketing them. Each component of the marketing
strategy is designed as a part of an overall unified strategy.

Marketing efforts are directed towards implementation of all the components in a

synchronized method. All the marketing activities are coordinated to achieve synergy and
deliver the best possible value to the customer. Holistic marketing is an emerging concept,
but is very likely to gain popularity throughout the world in the coming years.

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MARKETING STRATEGIES

Marketing strategy is the comprehensive plan formulated particularly for achieving the
marketing objectives of the organization. It provides a blueprint for attaining these
marketing objectives. It is the building block of a marketing plan. It is designed after
detailed marketing research. A marketing strategy helps an organization to concentrate its
scarce resources on the best possible opportunities so as to increase the sales.

DIFFERENT TYPES OF MARKETING STRATEGIES USED

● Marketing Segment and Marketing Mix

● Target Marketing

● Alternative Market Targeting Strategies

● Undifferentiated Marketing

● Differentiated Marketing

● Concentrated Marketing

A clear marketing strategy should revolve around the company's value proposition, which
communicates to consumers what the company stands for, how it operates, and why it
deserves their business.

This provides marketing teams with a template that should inform their initiatives across
all of the company's products and services. For example, Walmart (WMT) is widely known
as a discount retailer with “everyday low prices,” whose business operations and marketing
efforts are rooted in that idea.

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Marketing Strategies vs. Marketing Plans

The marketing strategy is outlined in the marketing plan, which is a document that details
the specific types of marketing activities a company conducts and contains timetables for
rolling out various marketing initiatives.

Marketing strategies should ideally have longer lifespans than individual marketing plans
because they contain value propositions and other key elements of a company’s brand,
which generally hold constant over the long haul. In other words, marketing strategies cover
big-picture messaging, while marketing plans delineate the logistical details of specific
campaigns.

Benefits of a Marketing Strategy

The ultimate goal of a marketing strategy is to achieve and communicate a sustainable

competitive advantage over rival companies by understanding the needs and wants of its
consumers. Whether it's a print ad design, mass customization, or a social media campaign,
a marketing asset can be judged based on how effectively it communicates a company's
core value proposition.

Market research can help chart the efficacy of a given campaign and can help identify
untapped audiences to achieve bottom-line goals and increase sales.

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Five core pillars for effective marketing

1. Strategy

The first step in creating an effective social media marketing campaign is by having a good
strategy in place. Don’t just wake up one morning and start publishing something on your
social media handles.

Think about your strategy and what you hope to achieve at the end of the campaign. For
example, some of the critical questions that you should ask yourself include;

▪ What are your goals?

▪ Which social media platform you want to use to publish your content.

▪ Type of content you want to share on your preferred social media platform.

2. Planning and publishing

After you have laid down your strategy, the next step should be to plan how frequently you
want to publish your content. Having a consistent presence on social media allows your

brand or service to be seen and discovered by potential customers.

Almost three billion people use social media daily. These numbers can be turned into
potential customers by keeping and maintaining your product or service on social media
platforms.

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3. Listening and engagement

Your strategy is in place, and you have published some content on your social media
platforms, so what is next? Once you start targeting various audiences through the content
that you post on social media platforms, the chances are that your brand or service will
begin not only to get recognized, but people will start talking about it as well.

It is good to listen and engage the audiences, having conversations around your brand at
this stage. You can take the initiative to reply to comments on your social media posts or
messages that could be sent directly to you.

Follow through and monitor all social media conversations as this will help you know what
the people think about your brand. If you cannot scan and respond to social media
comments on your brand, you can search marketing agency and engage its services to
manage your social media platforms.

4. Analytics

As your brand grows, you will want to know if your social media marketing campaign has
been successful. The success of any campaign is based on the number of people you have
reached since its conception. How many positive comments you have received about your
brand and the number of people who have used your brand’s hashtag on their social media
posts.

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5. Advertising

In social media marketing, you only get to target the people following your posts on your
social media platforms. However, with your business’s growth, you can go ahead and
incorporate social media advertising alongside social media marketing.

With social media advertising, you get to reach a wider audience, and you can also create
your target audiences based on their interests, behaviors, and demographics.

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OBJECTIVE OF THE
STUDY

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1. To study the marketing strategies of SHANTI POLYMERS.
2. To understand the corporate working culture and practices.
3. To analyze the different marketing tools used and
platforms used to attract the target audience.

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LITERATURE REVIEW

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Introduction

Company marketing strategy is an important and crucial constituent for the global market.
Marketing strategies can vary from country to country, brand to brand and organization to
organization. In order to achieve a satisfactory and adequate marketing strategy which has
a positive outcome on global and overall firm success, the marketing department within a
company should bear in mind all the different marketing mix strategies that can influence
the comprehensive result and the cumulative firm success. When launching a product into
foreign markets companies can use a conventional marketing mix or adapt the existing
marketing mix, to satisfy the country they are carrying out their business activities in. the
link between standardization/adaptation and company performance is complicated and
possibly influenced by other factors (Shilke, Reiman, Thomas, 2009, Solberg, Durrieu,
2008). It should be emphasized that the influence of standardization/adaptation decisions
of international marketing strategy on company performance is called also as one of the
most topical research objects of international business (Griffith, Cavusgil, Xu, 2008).
Therefore, inconsistent results of empirical research works and limited research contexts
confirm that the link between standardization/adaptation decisions of international
marketing strategy and company performance are a topical object of scientific research
(Ryans, Griffith, White, 2003, Theodosiou, Leonidou, 2003). International marketing
solutions become particularly relevant for enterprises that operate in a global business
environment and that look for survival or business development opportunities. Latterly
more attention is given to the link between international marketing strategy and company
performance in scientific literature on the subject of international marketing (Sammie,
Roth, 1992; Cavusoglu, Zou, 1994; O’Donnell, Jeong, 2000; Katsikas, Samiee and
Theodosiou, 2006, Solberg, Durries, 2008; Shilke, Reiman, Thomas, 2009). Company
performance is one of the most important aspects when assessing the suitability of certain
strategies (Jain, 1989). However, despite the importance of international marketing strategy
for company performance, the number of scientific research works that analyze the
mentioned link is limited, and results of the research works are contradictory (Katsikeas,

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Samiee & Theodosiou, 2006.). By conducting detailed literature review we will explore the
concept of marketing strategy discussing its value, consequently creating foundation for a
conceptual model and empirical study.

The Concept of Marketing Strategy

Marketing strategy is a significant driving force that distinguishes the success of many
organizations not only by well-developed marketing strategies outlining where, when, and
how the firm will compete but also by their ability to execute the marketing strategy
decision options chosen (e.g. Day and Wensley 1988; Varadarajan 2010). The appropriate
and effectively implemented marketing strategies are required to productively guide the
deployment of the limited available resources via the firm’s marketing capabilities in
pursuit of desired goals and objectives (Black and Boal 1994; Varadarajan and Clark 1994).
The literature reveals two distinct but related features to marketing strategy content:
marketing strategy decisions and marketing strategy decision implementation. Hence,
decision makers responsible for the marketing strategy must select which available
resources the firm should deploy, where to deploy them appropriately, and set and signal
priorities in terms of achieving the various goals and objectives of the firm (Slater 1995).
These marketing strategies toward firm performance may be either formal, top-down
strategies (Varadarajan and Clark 1994) or emergent or improvisational strategies
(Moorman and Miner 1998). A firm’s marketing strategy content therefore involves
explicit or implicit decisions regarding goal setting, target market selection, positional
advantage to be pursued, and timing to attain firm performance (e.g., Day 1994;
Varadarajan 2010). Well-defined strategic marketing objectives are a critical feature of
marketing strategy in which managers must make decisions about what the objectives and
priorities of the firm are, translate these objectives and vision of the firm into marketing-
related goal criteria, and set and articulate the desired achievement levels on each goal. This
can be complicated to realize by the fact that many goal criteria and levels may be
incompatible or at least non-complementary in the pursuit of achieving firm performance.
For instance, the firm’s growth revenue and margin growth are difficult to achieve

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simultaneously (Morgan et al. 2009). Managers, therefore, have to prioritize objectives that
may be in conflict. Since most definitions of strategy concern plans for how desired
objectives are to be achieved, such goal setting is clearly important in determining
subsequent marketing strategycontent decisions. Indeed, such goal selection decisions may
be one of the most important manifestations of strategic choice within the marketing
strategy content (Child 1972). Another important feature of marketing strategy content is
the selection of the market. This deals with the segmentation and targeting decisions of the
classic STP framework of marketing strategy, which revolves on market segmentation,
target and positioning. Specifically, this marketing strategy content decision determines
where the firm will seek to compete in order to meet the strategic marketing objectives
stipulated. Value proposition is also a significant feature of the marketing strategy as it is
responsible for the choosing of the specific product and/or service offerings to be delivered
into the target market with the objective of exceeding the customers’ expectations (Slater
1995). The decision surrounding the value proposition is therefore a measurement of the
value offering that managers consider will create adequate demand at required price points
among target customers to allow the firm to achieve its strategic marketing objectives
arranged to total firm performance. The assumption here is that the value proposition can
be delivered by the firm as envisaged and that the delivered value proposition is perceived
by customers in the way that decision makers anticipate in getting positive returns. This
decision of the marketing strategy content therefore determines which specific resources
and capabilities are required to be combined and transformed to develop and deliver the
value offering that consequently leads to firm performance. In order for a marketing
strategy to offer subsequent amounts of value and achieve performance it should be well-
timed with market requirements. Therefore, Timing is an important marketing strategy
decision when examining new market targets or value propositions is the timing of entry or
launch (e.g., Green et al. 1995; Lieberman and Montgomery 1998). Nonetheless, even if a
marketing strategy does not involve such changes to target markets or value propositions,
timing is still an important component of most marketing strategies especially in nowadays-
rapid changing consumer tastes and preferences, which are accelerated by ever changing
technologies. Literature reveals that most firms also have specific timeframes associated
with their strategic marketing goals or regular planning horizons that provide time

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objectives and constraints within which marketing plans may be formulated and executed.
Such important time considerations can often impact other marketing strategy content
decisions.

Adaptation/Standardization Typologies

Literature reveals that most studies concentrate on factors that influence the selection of a
certain strategy, and they seek to recognize forces that stimulate standardization or
adaptation. Nevertheless, the validityof the choice of standardization or adaptation strategy
is determined by its potential to improve company performance (Samie & Roth, 1992). Jain
(1989) states that suitability of an international marketing strategy is confirmed by the
strategy’s influence on the company performance – economic and strategic benefit,
received due to implementation of the chosen strategy.

1. Adaptation

Adaptation transpires when firms adjust their market strategies when entering foreign
markets, even in an era of globalization where many brands and products are nearly
universally prevalent. Those adaptation decisions cleave into an adaptation strategy that
can influence the firm’s competitiveness and, in turn, its performance in foreign markets in
terms of sales, financial and customer performance. Adaptation strategies encompass
changing the pricing method, promotional mix and packaging of a product, or even the
product itself, in order to fit the needs and preferences of a particular export market.
Adaptation happens when any element of the marketing strategy is modified to achieve a
competitive advantage when entering a foreign market and thus attain firm performance.
Adaptation strategies may not be so complex but a simple tweaking of the logo and the
colors of the packaging can achieve the marketing objectives, or may involve developing
new products better fitted to the local palate or new financing models more fitting for the
local economy or market. Proponents of the international marketing adaptation approach,

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emphasize the significance of customization to meet varied customer requirements. The
central basis of the adaptation school of thought is that when entering a foreign market,
marketers must consider all environmental factors and constraints such as religion,
language, climate, race, occupations, education, taste, different laws, cultures, and societies
(Czinkota and Ronkainen, 1998). However, researchers have distinguished important
sources of constraints that are hard to measure such as cultural differences rooted in history,
education, religion, values and attitudes, manners and customs, aesthetics as well as
variations in taste, needs and wants, economics and legal systems in the export markets. In
the adaptation approach “multinational companies should have to find out how they must
adjust an entire marketing strategy and, including how they sell, distribute it, in order to fit
new market demands” (Vrontis and Thrassou, 2007). It is crucial for marketers to adjust
the marketing mix and marketing strategy to suit local tastes, meet special market needs
and consumers’ non-identical requirements (Vrontis and Thrassou, 2007). The mechanisms
to implement a successful adaptation strategy are as a follow; once a firm has taken the
strategic decision to adapt its marketing strategy, it must make an assessment of its
objectives and resources in light of the characteristics of the new foreign market it is
entering. At this stage, the input from experts familiar with the new market is crucial in
developing an effective strategy. In the example of a new product introduction in the
domestic market, the adapted marketing strategy must be articulated in terms of the
marketing strategy elements namely product, price, distribution and promotional aspects,
all coordinated to achieve specific objectives within the new market.

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2. Standardization

The opposite of adaptation is the standardization approach of marketing. Firms following

a standardization approach enter foreign markets using the same promotional mix,
packages and presentations that were used in the domestic market to lure customers in the
export market. Because making new advertisements, packages and product lines is
expensive, standardization requires less investment compared to the adaptation approach
of marketing. The view of the standardization standpoint (as proposed by Jain, 1989; Levitt,
1983) posit that there is a union of cultures with comparable environmental and customer
interest around the globe that calls for standardized products across export markets. The
proponents in this approach argue that trade barriers are getting lower and that
technological capability advances and firms are presenting a global orientation in their
marketing strategy. Also, the proponents of a standardization approach argue that it allows
for the presentation of a consistent image across countries. Therefore, marketers in the
global oriented environment are creating one strategy for the global market and
standardizing the marketing mix elements namely product, price, promotion and place to
achieve consistency with customers as well as enjoying economies of scale through lower
costs. According to Levitt (1983) companies that are marketed well have moved away from
customizing items to offering globally standardized products that are advanced, functional,
reliable and low priced. The author adds that companies can achieve long-term performance
by directing their marketing activities on what everyone wants rather than worrying about
the particulars of what everyone thinks they might like which can be costly to cater when
following individual preferences.

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Standardization and Adaptation of the 4Ps Product

The product itself is at the beginning of marketing strategy efforts toward firm performance
and is the heart of brand because it is the primary impact on what consumer’s experience
with a product or rather a brand, what they heard about the product from others through
word of mouth, and what the firm can win customers about their product in their
communications. Therefore, designing and delivering a product or service that fullysatisfies
customer needs and wants is a prerequisite for successful marketing strategy
implementation, regardless of whether the product is a tangible good, service, or
organization. According to Keller, (2003) in order to create brand loyalty, consumers’
experiences with the product must, at least, meet, if not actually exceed, their expectations.
Customer satisfaction is determined by exceeding customers’ expectations. The image of
the product is paramount to winning customers in international markets. According to
Doole and Lowe (2004) product image is one of the most powerful points of differentiation
for consumers. Image positioning has an influence on the consumer and buyer behavior.
Because the aspiration and achiever groups of purchasers wish to belong to particular
worldwide customer segments and are keen to purchase products which are associated with
that group. Then again, company image is becoming an increasingly important aspect of
international marketingstrategy in creatinga central theme runningthrough diverse product
ranges that reinforces the vision and the values of the company which can be recognized
by employees and customers alike. For this reason, many companies have spent
considerable effort and adequate resources on controlling and improving the corporate
identity through consistent style and communications.

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Promotion

Promotion in “the personal or impersonal process of assisting and/or persuading a

prospective customer to buy a product or service or to act favorable upon an idea that has
commercial significance to the seller”

Promotion is a vital element of marketing because it brings to the knowledge of customer

the product, and price, etc. which a producer has to offer. It’s also creates interest and
awareness among potential buyers. The need for promotion has increased due to stiff
competition, widening markets, rapid changes in customers’ tastes and references, new
technology, etc.

Promotion Mix

Promotion mix refers to the combination of various promotional tools used by a business
firm to create, maintain and increase demand. It involves an appropriate integration of
advertising, personal selling, sales promotion and publicity.

In course of time, various activities come into vogue, designed particularly to help easy
sale of goods. These activities commonly known as ‘promotional activities’ are, in
management terminology, named as ‘promotional mix’. They include all those activities,
which are undertaken to promote the sale of products ultimately. These activities are
sometimes referred to as “promotional blend”.

Elements of Promotional Mix

1) Advertising: Advertising is any paid form of non-personal presentation and promotion

of ideas, goods, or services by an identified sponsor.

Advertisers include business firm but also museums, charitable, organization, and Govt.
agencies that direct messages to target publics. Organizations handle their advertising in
different ways. In small companies, someone handles advertising in the sales or marketing
department which work with an advertising agency.

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 Five major decisions in developing an advertising program known as the five MS:

Mission: What are the advertising objectives?

Money: How much can be spent?

Message: What message should be sent?

Media: What media should be used?

Measurement: How should the result is evaluated?

2) Personal Selling: The personal selling is “the personal or impersonal process of assisting
and/or persuading a prospective customer or buy a commodity or services or to act
favorable upon an idea that has commercial significance to the seller”.

3) Sales Promotion: Sales Promotion consists of a diverse collection of incentive tools, mostly
sort term, designed to stimulate quicker or greater purchase of particular products or service
by customers or the trade.

4) Publicity: Publicity is a non-personal not paid stimulation of demand of the products or

services or business units by planting commercially significant news or editorial comment
in the print media or by obtaining a favorable presentation of it upon radio, television or
stage.

5) Marketing Public Relations: Many companies are turning to Marketing Public Relation
(MPR) to directly support corporate or product promotion and image making. Thus MPR,
like financial PR and community PR, serves as special constituency, namely the marketing
department.

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COMPANY PROFILE

31
 Shanti polymers witnessed its inception in 1992 as a trading unit. We dealt in solvents
and chemicals mainly used in the paint industry. During the past two decades we made
tremendous progress and created an impeccable reputation for ourselves as one of the
most reliable suppliers of chemicals and solvents in North India.
Spurred by this success we have now set up a manufacturing unit spread over 1600
square yards in Sonepat, Haryana. Our product range will cover paint thinners, paint
removers, synthetic thinner and reducers for use by paint industry and the trade.

Our two decades of experience of how markets work and what consumer expectations
are has given us the knowledge to come up with precisely formulated products that will
be priced affordably and perform to specifications. Bulk sourcing of raw materials and
bulk manufacturing will help us lower costs further and gain market ascendancy. We
believe this first manufacturing unit is the vital step towards and explosive growth in
the near future.
Shanti polymers is a family owned business now in its second generation, managed by
younger members with experience. Working as a team with our hand-picked and trusty
staff members, we shall have full control over quality and costs and make our brand a
trusted name in the market. If we have grown during the past 23 years, it is because of
our unshakeable foundations of ethics and customer service,a tradition that will
continue onwards to the next level in our manufacturing.
 SHANTI

POLYMERS

VISION:
We envision a time when we will progress from manufacturing
paint thinners and solvents to paints and protective coatings
and become a significant player,competing with global giants.
MISSION:
We are on a mission to supply quality chemicals and formulations
for the paint market and give customers the benefit of price and
quality.
SERVICES PROVIDED

➢ COMPRESSION

➢ EXTENSION

➢ TORSION

➢ WIRE SHAPE

➢ DEVELOPMENT

33
 RESEARCH
METHODOLOGY

34
Research Methodology

The process used to collect information and data for the purpose of making business
decisions. The methodology may include publication research, interviews, surveys and
other research techniques, and could include both present and historical information. For
this study data is collected through primary as well as secondary source.

METHODOLOGY OF STUDY:
The project is a systematic presentation consisting of the enunciated problem, formulated
hypothesis, collected facts of data, analyzed facts and proposed conclusions in form of
recommendations.
The data has been collected from both the primary and secondary sources.

35
Quantitative research
Systematic empirical investigation of quantitative properties and phenomena and their
relationships. Asking a narrow question and collecting numerical data to analyze utilizing
statistical methods. The quantitative research designs are experimental, correlational, and
survey (or descriptive). Statistics derived from quantitative research can be used to establish
the existence of associative or causal relationships between variables. Quantitative research
is linked with the philosophical and theoretical stance of positivism.

Qualitative research
Understanding of human behavior and the reasons that govern such behavior. Asking a
broad question and collecting data in the form of words, images, video etc. that is analyzed
searching for themes. This type of research aims to investigate a question without
attempting to quantifiably measure variables or look to potential relationships between
variables. It is viewed as more restrictive in testing hypotheses because it can be expensive
and time consuming, and typically limited to a single set of research subjects [citation
needed]. Qualitative research is often used as a method of exploratory research as a basis
for later quantitative research hypotheses [citation needed]. Qualitative research is linked
with the philosophical and theoretical stance of social constructionism.

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Data Sources
Data Collection Techniques

(A) Primary Data

Primary data are those, which were collected afresh & for the first time and thus happen to
be original in character. However, there are many methods of collecting the primary data.
All have not been used for the purpose of this project. The ones that have been used are:

Face to face communication (Interviewing): This is a very general method of collecting

primary data. Here the investigator directly contacts the informants, solicits their
cooperation and enumerates the data. The information is collected by direct personal
interviews.

The novelty of this method is its simplicity. It is neither difficult for the enumerator nor the
informants. Because both are present at the spot of data collection. This method provides
most accurate information as the investigator collects them personally. But as the
investigator alone is involved in the process, his personal bias may influence the accuracy
of the data. So it is necessary that the investigator should be honest, unbiased and
experienced. In such cases the data collected may be fairly accurate. However, the method
is quite costly and time-consuming. So the method should be used when the scope of
enquiry is small.

Observation: Compared with quantitative research and experimental research,

observational research tends to be less reliable but often more valid [citation needed]. The
main advantage of observational research is flexibility. The researchers can change their
approach as needed. Also it measures behavior directly, not reports of behavior or
intentions. The main disadvantage is it is limited to behavioral variables. It cannot beused
to study cognitive or affective variables. Another disadvantage is that observational data is
not usually general

Mailed Questionnaire method: This is a very commonly used method of collecting

primary data. Here information is collected through a set of questionnaire. A

37
questionnaire is a document prepared by the investigator containing a set of questions.
These questions relate to the problem of enquiry directly or indirectly. Here first the
questionnaires are mailed to the informants with a formal request to answer the question
and send them back. For better response the investigator should bear the postal charges.
The questionnaire should carry a polite note explaining the aims and objective of the
enquiry, definition of various terms and concepts used there. Besides this the investigator
should ensure the secrecy of the information as well as the name of the informants, if
required

(B) Secondary Data

When an investigator uses the data that has been already collected by others is called
secondary data. The secondary data could be collected from the journals, reports and
various publications. The advantage of the secondary data can be economical, both in the
terms of money and time spent. In this report secondary data was collected through:

Reports and records: Document that memorializes and provides objective evidence of
activities performed, events occurred, results achieved, or statements made. Records are
created/received by an organization in routine transaction of its business or in pursuance of
its legal obligations. A record may consist of two or more documents.

Flow charts and tables: A flowchart is a type of diagram that represents an algorithm or
process, showing the steps as boxes of various kinds, and their order by connecting them
with arrows. This diagrammatic representation illustrates a solution to a given problem.
Process operations are represented in these boxes, and arrows; rather, they are implied by
the sequencing of operations. Flowcharts are used in analyzing, designing, documenting or
managing a process or program in various fields

Websites: A website, also written as Web site, web site, or simply site, is a set of related
web pages served from a single web domain. A website is hosted on at least one web server,
accessible via a network such as the Internet or a private local area network through an
Internet address known as a Uniform resource locator.

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RESEARCH PROCESS IN THIS PROJECT/STUDY:

• RESEARCH TYPE: Descriptive and analytical

• DATA COLLECTION: Primary and secondary

• DATA POPULATION: Customers

• SAMPLE SIZE: 50

• REASEARCH AREA: SHANTI POLYMERS

• RESEARCH TOOLS: Pie Chart

• TOOLS OF ANALYSIS: Percentage and Ratios

39
 ANALYSIS AND
INTERPRETATION

40
Q1. Have you heard the company name before?

Yes 18

No 32

Interpretation

Out of 50 customers very few of them about our company therefore we have to increase
our social media impact to the people.

41
Q2. How long have you been a customer?

A month 30

A year or more 16

Not yet 4

A month A year or more Not yet

Interpretation
This shows, that more than 50% of the consumers have taken our services recently. The
company need to make sure that they provide the best services to them so that they can be
with us in the long term as well.

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Q3. From which social media app you came to know about our company?

LinkedIn 14

Facebook 8

Pinterest 3

Instagram 25

Interpretation
So, basically 50% of the people got to know about our company through Instagram therefor
we need to make more engagement through other social media apps as well.

43
Q4. From which source, have you heard about our brand recently?

Friends, family, colleagues 12

Social Media 19

Advertisements 3

Online videos 5

Online search 8

I haven’t heard or noticed 3

your brand

Interpretation
38% of the customers have known us from different social media platforms, 24% of
them have known us from friends and colleagues and some of them know us from
advertisements.

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Q5 How likely would you recommend our brand to a friend?

Very Likely 25

May be 13

Not at all 12

Interpretation
We have to improve our brand image, because 24% of the customers would not recommend
our brand to any other person.

45
Q6. Is our product or service easy, fast, convenient to use?

Yes 33

No 17

Yes No

Interpretation
66% of the Customers really liked our services whereas 34% of them didn’t. The company
needs to make sure that the customers are getting best services from them.

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Q7 According to you which marketing strategy is best?

Social Media Marketing 11

Advertisements 26

Digital Marketing 9

Others 4

Social Media Marketing Advertisements Digital Marketing Others

Interpretation
52% of the customers believe that advertisements are the best source to promote your
brand/product as it can reach to maximum number of people within seconds. Whereas
22% of them believe that the company should promote its product through social media
marketing.

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Q8 Would you buy from us again?

32
YES
10
No
Maybe 8

Yes No Maybe

Interpretation
64% of the consumers will buy our product in the future which is a very good sign, but the
companystill need to make some changes so that they can attract each and every customer.

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Q9 What made you choose us over a competitor?

Price 24

Services 19

Others 7

Price Services Others

Interpretation
48% of the customers were attracted because our company was offering the product at
very minimum price at compared to our competitors and 38% chose us because of our
services.

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Q10 How would you rate your last experience with us?

Excellent 7

Good 27

Bad 10

Can’t say 6

People

Excellent Good Bad Can't Say

Interpretation
54% of customers liked our product and services whereas 20% ofthem had a bad
experience so we need to improve a little bit with our services.

50
FINDINGS AND
INFERENCES

51
Based on the data gathered through customers and clients and from the market we have
come to the findings and analysis of the data collected.

According to the Survey, and all the information the marketing strategies used will differ
from company to company. We have to consider the needs and requirements of the
company and work according to that.

Marketing strategy will be chosen from those which are cost effective and effectively deal
with the marketing of the company.

For Marketing any product or a company, the pitching has to be really on point and will be
able to facilitate the mind of the listener in a positive way so he can make a deal with the
company.

The service provided will differ from person to person. So, we have to think about how to
pitch to a particular person of an age group and a different person for a different age group.

As the environment is dynamic it keeps changing with time, so also the strategies of the
company will also have to change from time to time.

As we know, the target market of our company is concentrated. So, we have to deal with
the companies with more compassion and efforts to make that deal done.

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Also,

1) Clients are very much happy with the kinds of services the company provides.

2) In approaching the potential client following things should be kept in mind:

• Selection of the target market.

• Keeping enough knowledge about the client.

• Service providers like transporters, agents etc.

• Grabbing as much as attention as possible in the first meeting.

• Proper planning.

These activities will help in reducing the unnecessary costs incurred by the
company.

3) Knowing the client requirements prior to the meeting.

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LIMITATIONS OF THE
STUDY

54
No research is without limitations, but their number can be reduced to achieve accuracy

The survey conducted within the limited period, so shortcomings may be expected.

❖ The respondent’s personal bias is uncontrollable. The finds of the survey are strictly
based on responses of the respondents.
❖ It is difficult to find the euthenics be true, so they are assumed to be true.
❖ It was difficult to find respondents as theywere busy in their schedule, and collection
of data was very difficult. Therefore, the study had to be carried out based on the
availability of respondents.
❖ The respondents were not comfortable; they showed non- cooperative approach and
rude behavior while revealing their information. Some respondents responded half-
heartedly and gave incomplete information.

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 CONCLUSIONS AND
RECOMMENDATIONS

56
CONCLUSION

The primary objective of this study was to examine the theoretical and practical concepts of

marketingstrategies and performmarketing research and how they can be applied with respect to

Ace Integrated Solutions Ltd.

• Effective marketingresearch uses the principles of scientific method, careful observation,

prediction and testing.

• Good marketing research benefits both the sponsoring company and its consumers.

Through these, company learns more about consumers’ needs and is able to supply

More satisfying products and services.

• Good marketing researchers show concern for estimating the value of information
Against its cost. This helps in decidingwhich researchproject should beconducted.

• Marketing research develops innovative ways to solve a problem.

• Good marketingresearchers should avoidover reliance on any one method. They also
Recognize that using multiple sources leads to better information.

• Good marketingresearchers recognize that data are interpreted fromunderlying

Models, and these models guide the type of information sought.

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RECOMMENDATIONS

1. First of all, it’s very essential for the market to work on it service quality, if quality
is good, the service will thrive no matter how many competitors it has in market.

2. As far as winning the competition is concern the market should concentrate on

different type of promotion in the market reassuring the customer about the quality
and price of the service like it’s very for apparel’s where price offers and discount
prices are very effective.

3. A good company in order to build its goodwill must try to promote service with
different promotion strategies.

7. Plan properly before introducing any promotional scheme.

8. A proper attention on competitors must be given.

9. Use those strategies which would helpful for the company.

10. Promotion strategies should be checked and audited time to time.

11. Don’t use more promotion. It may create a negative impact also

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BIBLIOGRAPHY

59
For the purpose of collecting information the following sources were referred:

❖ Marketing Management : A South Asian Perspective by Philip Kotler, Kevin Kelly,

Abraham Koshy and Mithileshwar Jha 13th Edition, Pearson Publication.
❖ Research Methodology : Methods & Techniques by C.R.Kothari 2nd Edition, New
Age International (P) Limited, Publishers.
❖ Naresh K. Malhotra, “Marketing Research: An Applied Orientation”4th
Edition.Prentice Hall, 2018.
❖ Philip Kotler, Kevin Lane Keller, Abraham Koshy, Mithileshwar. Jha., “Marketing
Management – A south Indian perspective”- 13thedition.Pearson Education, 2019.

Books
• Marketing Management- Philip Kotler
• Marketing management- AIMA STUDY MATERIAL

News Papers
• The Economics Times
• The Times of India

Website

❖ www.aceintegratedsolutions.com.
❖ www.google.com

60
APPENDICES

61
 QUESTIONNAIRE

Q1. Have you heard the company name before?

❖ Yes
❖ No

Q2. How long have you been a customer?

❖ A month
❖ A year or more
❖ Not yet

Q3. From which social media app you came to know about our company?
❖ LinkedIn
❖ Facebook
❖ Pinterest
❖ Instagram

Q4. From which source, have you heard about our brand recently?
❖ Friends, family, colleagues
❖ Social Media
❖ Advertisements
❖ Online Videos
❖ Online Search
❖ I haven’t heard or noticed your brand

Q5 How likely would you recommend our brand to a friend?

❖ Very Likely
❖ May be
❖ Not at all

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Q6 Is our product or service easy, fast, convenient to use?
❖ Yes
❖ No

Q7 According to you which marketing strategy is best?

❖ Social Media Marketing
❖ Advertisements
❖ Digital Marketing
❖ Others

Q8 Would you buy from us again?

❖ Yes
❖ No
❖ Maybe

Q9 What made you choose us over a competitor?

❖ Price
❖ Service
❖ Others

Q10 How would you rate your last experience with us?
❖ Excellent
❖ Good
❖ Bad
❖ Can’t say

63