Bba Consumer Satisfaction in LPS
Bba Consumer Satisfaction in LPS
Bba Consumer Satisfaction in LPS
SESSION-2016-2017
A Project Report is never the sole product of one person whose name appears on the cover. There is
always the help, guidance and suggestion of many of the preparation of such a project. So it gives me
great pleasure to express my great gratitude towards all the individuals who directly or indirectly helped
me in completing this project, under the guidance of ( MM MANAGER IN LPS ) .
With my sincere Regards, I would like to thank Mr. Arjun Gupta to give this project title to me and
assigning me the project and giving her fair encouragement.
With my sincere Regards, I would like to thank to guide me in this project report and I would like to
thank togive me such kind of opportunity.
TABLE OF CONTENTS
2.Industry Profile
3. Company Profile
4. Research Methodology
5. Analysis of Data
8. Limitations
9. Annexure
9.1. Questionnaire
9.2. Bibliography
INTRODUCTION TO THE COMPANY
Lakshmi Precision Screws Ltd. is a symbol of technical perfection. LPS (founded in march 1972) is
one of the leading manufacturers and suppliers of High Tensile Fasteners such as Bolts, Screws, Nuts
and Similar parts for More important is the fact that LPS today brings to its work over three decades of
customer’s assembly line. Which are committed to improve their products to meet the ever-increasing
expectations of the customers and are always obliged for their continued guidance patronage. hard core
experience in the field .The present product list of LPS is very vast. All A company where performance
is proof. Which understand his customer & give assurance the big company like Hero Honda, Maruti,
Escorts, Eicher, Kelvinator, Tata, Bajaj, LML, and HMT. Every one use and recommends of LPS label.
everncreasing expectations of our customers and are always obliged for their continued guidance and
patronage.
INDUSTRIAL PROFILE
Put simply, anything which joins together two things is a fastener –a broad and collection term for nuts,
bolts and screws – which keeps separate assemblies of any engineering system together in a
predetermined position. Fasteners are one of the joining methods, the other notable being welding and
riveting. While the latter farm permanent joints, fasteners can be undone when required, mostly for
repairs and reconditioning.
Fasteners can be broadly classified into two categories depending upon their tensile strength, mild steel
(MS) fasteners and high tensile (HT) fasteners are used across abroad spectrum, mostly in general
application; they are produced by the SSI and unorganized sector, using lather and by rolling.
On the other hand, HT fasteners, which are relatively technology intensive, are manufactured by a few
units in the organized sector via the cold Harding (a form of forging) process HT fasteners can be
classified into standard (available of the shelf) and specialized (made to specific deigns).
Fasteners have two types of heads: hexagonal and socket heads. Socket head screws (also known as
Allen screws or grub screws by machines)
are used mainly for industrial application in textiles , machines tools ,pumps etc. and also in erecting
transmission towers.
The hexagonal type is predominately used in automobiles and in general engineering. Specialized
fasteners are used for specific applications and generally tailor – made. Manufactures of specialized
fasteners have to follow a prescribed design to make fasteners.
Eight major players who account for nearly 70% of the total turnover of the industry and 95% of the
organized sector dominate the Indian fasteners industry. Basically engaged in servicing the automobile
industry, a most logical extension for the companies of fasteners industry is the manufacturer of small
auto engine components like radiator caps, precision gears, couples etc. The manufacturer of various
non-standard small components related to one industry helps a company to give a boost to its operation
margins by altering its product mix. The companies who are able to congenerate those small components
along with their main products are the ones which enjoys higher margins in this industry
MISSION & VISION OF LPSED pro
fessional company
Vision :-
Be recognized as the best and the Preferred supplier of national and international standard.
Mission :-
To be a growth oriented professional company promoting high standards of business ethics and
producing best quality products thereby achieving international standards of excellence.
To establish a strong R & D facility to fulfilled the demands of the automotive industry as
compressively as possible & to make the each member of the company proud and empowered by
fostering a culture of participation and innovation.
To strive for reduction in defects and achieve 6 sigma and beyond so as to make quality a way of
life in LPS & to reduce cycle time in all processes as a step towards over-all improvement.
To provide prompt and excellent service to customer anywhere in the world & to maximize
shareholder wealth.
OBJECTIVES
Business Mission:- To achieve and maintain a leading position as suppliers of fasteners and to serve the
national & international market in the field of fasteners.
Growth:- To ensure a steady growth in business so as to fulfill national expectation and expand
international operations.
Profitability: To provide a reasonable and adequate return on capital employed primarily through
improvement in operational efficiency, capacity utilization and producing and generating adequating
internal resources to finance the company growth.
2. To innovate new things & To double the export and bring foreign currency
4. To develop technical and administrative skills & Optimum utilization of human resources.
MILESTONES OF THE COMPANY
1973 Technical tie-up with the German firm M/S Richard Bergner
ISO-14001 Certification
2014 Implemented ERP-SAP R/3
► Gear balks
► Socket head Cap Screw ► These are the products, which are
► Dowel Pin
► Nuts
Board of Directors
Quality Management
Corporate Strategy
FINANCE
PURCHASE
SALES LABORATORY
PLANT II
CENTRAL
PRODUCTION
PLANNING
FUTURE PLANS OF THE COMPANY
LPS is well on the way to consolidating its future leadership with a rising corporate graph with and
annual growth rate of 40%.
More concentration on hard currency market of USA, UK, JAPAN and EUROPE with the
objective of doubling the exports and to bring invaluable foreign exchange for the country.
On the corporate agenda is a massive expansion program, which includes diversification into
chemicals and engineering.
Cutting of wire
Forging
Heat Treatment
Rolling
Grinding
Plating
Packing
LIST OF MAIN MARKETS OF LPS
Automotive
Aviation
Hydraulic/Pneumatic Pumps
Railways
B. INTERNATIONAL (COUNTRY)
Australia
Germany
Hong Kong
Japan
Singapore
South Korea
Sweden
Switzerland
United Kingdom
List of Certificates
1. A2LA
2. NABL
3. ISO 9002
4. QS 9000
5. ISO/TS 16949
6. ISO 14001
Sterling Tools
Precision Fasteners
SWOT ANALYSIS
Strengths:
Weakness:
Opportunity:
Varied Application.
Threats:
Customer Satisfaction: -
Marketing, customer satisfaction is both a goal and marketing tool. It makes the customer, and the
satisfaction of his or her needs, the focal point of all business activities. Senior managers drive it,
passionate about delighting their customers. Customer is satisfied after purchased depend on the offer’s
performance in relation to the customer’s expectation. In general, satisfaction is person’s feelings of
pleasure or disappointment resulting from comparing a product’s perceived performance in relation to
his or her expectation, customer is dissatisfied. If performance matches the expectation, customer is
satisfied. If performance exceeds expectation, customer is highly satisfied or delighted. Although if
company increase customer satisfaction by lowering its price or increase it service, result may be lower
profit. Company has many stakeholder including employees, workers, dealrs, suppliers. Sending more to
increase customer satisfaction might divert funds from increase the satisfaction of other partners. Highly
satisfied customer generally stay loyal longers, buy more as company introduce new product and
upgrades existing product talks favorably about the company and its product, pay less attention to
competing brands and its less sensitive to price. A no of method exist to measure customer satisfaction.
He maintains the marketing department typically focus survey on the area they can control, such as
brand image, pricing and product features for customer value expectation and satisfaction. Companies
needs to monitor their competition’s performance in their area.
The extend to which a product’s perceived performance matches.
A buyer’s expectation if the product’s performance falls short of the expectation, he person is the
dissatisfied if performance matches or exceeds expectation, the buyer is Satisfied and delighted.
Satisfaction is depends on customer’s expectations. Expectations are based on the customer’s past
buying experience, the opinions of friends and associates and marketer and competitor information and
promises.
Marketer must be careful to set the right level of expectation, if they set expectation too low, they may
satisfy those who buy but fail to attract enough buyers. In contrast, if they raise expectation too high,
buyers are likely to be disappointed.
Today’s most successful companies are raising expectation--- and delivering performance to match.
However, although the customer-centered firms seek to delivery high customer satisfaction relative to
competitors, does not attempt to maximize customer satisfaction.
Today there is a lot of competition between the companies. So it is very necessary for all the companies
that they have to satisfy their customers .By lowering its price or increases its services we can increase
the customer satisfaction. But this may result in lower profit. So the companies have to make a good
balance b/w it.
Some other method to satisfy our customer:
Benefits:
Markets
Industry Market
S Company
U (Marketer)
P
End
L Marketing
I User
Intermediaries
Market
E
Competitors
ENVIRONMENT
The marketing environment surrounds and impacts upon the organization. There are three key
perspectives on the marketing environment, namely the 'macro-environment,' the 'micro-environment'
and the 'internal environment'. So in the today’s modern marketing the environment influence a lot.
1. Production concept
2. Product concept
3. Selling Concept
4. Marketing Concept
2. Differentiated Marketing:-In this strategy, the market is divided in several segment on the basis
of differentiation in demand and characteristics of the customers. Different product are manufactured for
every marker segment. For example,LPS company produces different types of screws and nuts to satisfy
the customers.
3. Concentrated Marketing:-In this strategy, the seller concentrates or focuses on certain area of
the market instead of several area under this strategy. For example, several publish books covering
certain subject instead of publishing books on all subjects.
Company Segment 1
Segment 2
Marketing
Segment 3
Mix
MARKET SEGMENTATION
Dividing a market into distinct groups of buyers with different needs, Characteristics, or behavior who
might require separate products or Marketing mixes.
2. Segment Marketing: - Isolating broad segments that make up a market and adapting the
marketing to match the needs of one or more segment. e.g. Hotels, Traveling.
3. Niche Marketing: - Focusing on sub segment or niches with distinctive traits that may seek a
special combination of benefits. E.g. luxury car buyers, performance car buyers, utility car
buyers and economy car buyers.
4. Micro Marketing: - The practice of tailoring products and marketing performs to suit the tastes
of specific individual and location.
Customers
Dealer OEM
7. Escort Ltd.
Research Design: -
Research design helps in proper collection and analysis of data. It makes research relevant to the
objective of research and see the proper process carried out.
The present study was mainly exploratory study, which was concerned with finding the
characteristics of a particular individual, group, institution of finding the satisfaction level of retailers
Collection of Data: -
Primary Data
Primary data is the fresh data that was used in this study. The primary data was collected through
structured questionnaire.
Ways of collecting primary data:
(c) Questionnaire
(d) Schedule
From the above method I use the questionnaires method to know about the
Secondary Data
Secondary data is the data already available. In this project some secondary data is used like company
profile & other information.
It is collected through: -
a. Pamphlet
b. Articles in newspapers (Dainik Bhaskar,Times of India) & magazines.
c. Websites
d. Training manuals
Structured and non-disguised questionnaire was used for collecting the primary data. Information
required was listed and on the basis of the list & objective of research, a questionnaire was prepared
having all type of questions like open ended, close ended & dichotomous questions for good response.
Sampling Procedure: -
10%
10% LPS
SUNDRAM
10% UNBRAKO
60% None of above
10% All above
Interpretation:- Most of the dealers have the brands of all the above company.
2.Do you have LPS dealership?
20%
Have
Have not
80%
Interpretation:- The most of the dealers have the dealership of the LPS
Company.
3. What are the expectations you have regarding the growth of LPS Product?
13%
Excellent
18% Good
49% Normal
Poor
15% Total
5%
Interpretation:- Most of the dealers of the LPS have the expectations of growth
of the company as good. So the company is doing well in the market.
4. How often the company sales representative visited you?
10%
25%
15% Once in a Week
Once in a Month
Once in a fortnight
Once in a Year
50%
Interpretation:- The company sales representative most of the time visit to the
Dealers once in a month.
5. Are you satisfied with LPS Products?
15%
satisfied
unsatisfied
85%
10%
Quality
30% Durability
60% Price
LPS
Quality:- From the study of dealer in North India of Lakshmi Precision Screws Ltd., we
analyse that the 75% of the respondents ranked the Quality of the products as first, 20% of
them ranked as second & 5% them are ranked as third.
5%
20%
1
2
3
75%
8. LPS Durability:- From the study of dealer in North India of Lakshmi Precision Screws Ltd., we
analyse that the 90% of the respondents ranked the Durability of the products as first, 8% of them
ranked as second & 2% them are ranked as third.
Rank Respondents
1 90%
2 8%
3 2%
8% 2%
1
2
3
90%
9. Do the company offers schemes for the dealers?
From the study of dealer in North India of Lakshmi Precision Scrawled., we analyse that the
95% dealers are responding as no while 5% of them are responding as yes.
Schemes Respondent
Yes 5%
No 95%
5%
Yes
No
95%
10. Do you want any change in the dealership norms?
From the study of dealer in North India of Lakshmi Precision Scrawled., we analyse that the
95% dealers are responding as no while 5% of them are responding as yes.
Change Respondent
Yes 3%
No 97%
3%
Yes
No
97%
RECOMMENDATIONS & SUGGESTIONS
Timely Distribution of Incentive should be made so that the employee’s remains motivated
and due to this they will do the work in the more efficient and the effective way.
Company should go for E – Commerce to compete with the other companies due to
globalization.
Frequent official visits should be encouraged so that the each person of the company feel
free environment in the company.
Should be Emphasis on Advertisement and Promotion Scheme especially on T.V and print
Media so that company can make well-known image in the public.
Company should provide more gift scheme to the dealer so that they will give emphasis
more on the selling of the products of the company.
Motivation among the employees should be increased by giving them incentive such as
housing facility “&” Medical care etc.
LPS have to offer “Bulk Discount” & “Credit Facility” & “ Time Delivery” in order to
remain competent.
1. For this we can open company’s retail outlet so that we can reduce our cost of intermediated.
By doing this our customers get good original and qualitative product at a low price.
By deliver the product at right time & at right place we can satisfy our customer for this we have to
maintain a right stock of product demanded but at the time of doing this we have to make a balance.
LIMITATIONS
While analyzing and evaluating the detail findings of this study, the reader must keep in mind the
following limitations of the project:-
It may not be possible that all the Respondents provide absolutely correct information.
Sampling may not present the exact picture of market. It is just representative of
population.
In the light of all above limitations, I have tried my best to find out real information from the
respondent in an honest manner.
FINDINGS OF THE STUDY
Price Range of LPS’s Products can compete competitors like Sundram Fasteners Ltd.
, UN-Brako , Precision Fasteners etc.
BIBLIOGRAPHY
Kotler Philip, Marketing Management, New Delhi, Prentice Hall of India Pvt. Ltd.
Kothari C.R., Research Methodology, New Delhi, Wishwa Prakashan Pvt. Ltd.
Annual Report.
www.lpsindia.com
QUESTIONNAIRE FOR DEALRS IN SCREW MARKET
1. Your are dealing in screw. Which type of screw you deal most ?
a) Small/Medium/High
b) only small
c) All type
2. Which company you prefers most, please give name of the company.
( )
a) Quality b) Price
Rank 1 ( ) 2( ) 3( ) 4( )
5. Are you satisfied with your company? If not, please give the reasons.
6. Are you authorized dealer of company? Please tell me the name of the company.
( )
7. Are you satisfied with the claim/replacement policy of the top four companies. Which the
best in this policy in your opinion?
Yes/No ( )
Name ( )
8. In there any discount policy given by top four companies,if purchase in bulk.
Yes/No ( )
Best ( )
Worst ( )
( Please Tick)
a) Best ( ) b)Worst ( )
(a) Price ( )
(b) Technology ( )
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