Research Report on Ajanta

Description
Ajanta Group diversified group of companies, active in textiles, transport, construction equipment and machinery.[1] It mainly sells clocks in India, and now also plans to sell inexpensive electric vehicles under the Oreva brand-name.

HISTORY AND DEVELOPMENT OF THE COMPANY

The history of the clock industry dates back to the time when man first decided to restrict time by clock. The first clock that was invested used to run on the

principle of Sun Rise and Sun Set.

Thereafter Transistor Clock was invested which run on power of supply. After Transistor Clock came the Mechanical or Winding Clocks which ran on a mechanical spring and had to be winded periodically with the help of a key.

Quartz Technology was first developed by Taiwan and thereafter all the countries started accepting this technology due to its various advantages over other technologies. The basic advantages are low cost of production, higher degree of efficiency, low maintenance cost, can be run on dry battery cell, accuracy etc.

At present there are a number of units producing Wall Clocks in India. One of the major centers in India for producing wall clock is Morbi. ORPAT Company was established in the year 1971. The chief promoter of the company, Mr. Odhavjibhai R. Patel is a retired schoolteacher. ORPAT is a

partnership firm. It is situated at Morbi, Gujarat. With the initial investment of Rs. 1,80,000/- the company had started manufacturing pendulum Transistor Power Clock. The initial production was of 15-20 pieces of wall clock per day. In the year 1978, with the advent of striking winding clocks, the company adopted that technology and stared making Striking Winding Clocks.

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In the year 1982, ORPAT started manufacturing Alarm Time Pieces. All these clocks were manufactured up to year 1987. In the year 1988, Quartz Revolution came into the world. In order to remain astride with the latest developments, the companies then Chairman, Mr.O.R.Patel, went to Japan, Taiwan and Hong Kong and brought the Quartz technology to India. In the year 1990, ORPAT WAS THE FIRST Indian Company to have manufactured Musical Clock.

ORPAT group of companies have been housed having built up area of 15,00,000 sq.ft. The group is currently providing employment about 6000 workers ( 90% of them are female employees).

Recently Ajanta starts its home appliances products and new established at Kutch of tiles industry at the cost of 300 corers. Their production capacity is increasing year by year like in

2001-2002 = 1,25,41,602 2002-2003 = 1,36,92,872 2003-2004 = 1,50,00,000 it has 300 whole sellers and 50,000 retailers. They have one of the best

distribution channels in the nation. The company is pioneer in India to undertake in house C.O.B. technology, being ISO 9002 and CE certified company. It has introduced innovative processes in the areas of inventory mgt. finance, marketing and R&D. As a result of which the group?s dependency on working capital

assistance from commercial bank is virtually nil.

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ACHIVEMENTS

1. The year 1992 “MAN OF THE YEAR” award was felicitated upon Ajanta?s chairman Mr. O.R. Patel under whose able guidance Ajanta has become India?s largest time piece manufacturer and the recipient of export award for outstanding exports performance every year since 1991-92.

2. Electronics and computer software exports promotion council award for excellence in export performance choose the company for the recognition in the year 1996-97 &1997-98. 3. Company?s managing director P.O.Patel was the recipient of the “TRADE POST MAN OF THE YEAR” award for acknowledging Ajanta?s achievement of electronics consumer goods and India?s leading quartz alarm clock despite free imports and Chinese challenge.

4. The recently concluded volumetric production analysis gives and indication of the company?s capacities. The company has achieved a world record of

manufacturing 1,36,92,872 clock during 2002-03.

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AWARDS

AWARDS PRESENTED BY
Gujarat sate exp. Esc Esc State bank of Saurashtra Department of electronic (Govt. of India) Esc Esc Esc

YEAR

FOR

1991-92 1991-92 1992-93 1993-94 1994-95

Best Export Highest Export Performance Highest Growth in exports consumer elect. For excellent performance in exports Second price for exports

1994-95 1995-96 1996-97

Outstanding Exports Best Exports Award for excellence in export for Establishing India brand in foreign Markets

National export award (Govt. of India) Esc

1997-98

Outstanding Exports

1997-98

Best export sector award

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DETAIL OF PROMOTERS MR. ODHVJIBHAI RAVJIBHAI. PATEL (Chairman, popularly known as O.R. Patel)

D.O.B: Education: Awards:

24-6-1925 Bsc. , Bed. Man of the year 1993 [Horological field] Highest exporter of electronics consumer Goods for 1991-92

History:

Basically a science teacher in V.C. Technical High School, Morbi. He also looks after Cloth Shops, Oil Engines, manufacturing of mechanical clocks were established by him. Over a period of 28 years, he has been able to make it ORPAT quartz. Sugar, Roofing Tile and Pharmaceuticals are the additional areas in which Shri. O.R. Patel has Provided the leadership to the group.

Awards:

Man of the year 1993 (Horological Field) Highest exporter of Electronics Consumer Good for 1991-92.

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MR. PRAVEENBHAI ODHAVJIBHAI PATEL (Managing Director)

Name: D.O.B. Education: History:

Shri. P.O.Patel 27-12-1953 B.E. Mechanical Joined watch clock manufacturing activity in 1971 to support his father Mr. O.R. Patel and since then he is actively engaged in all the Ventures started by the group. His expertise In production-sales-quality control-finance and Public relation has enriched the group. He has Traveled around the world for the market and Know how it is only due to his dedication and Efforts that ORPAT industrial estate is having a Status of world class manufacturing out look.

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MR. JAYSUKHBHAI ODHAVJIBHAI PATEL ( Director )

Name: D.O.B.: Education: History:

Shri. J.O.Patel 2-4-1959 B.Com 5 year in Sugar manufacturing unit. His Efficiency has completed the entire construction, Lay out, planning and interior designing of ORPAT industrial estate with in the record period of 12 months. He is looking after development of international market for ORPAT?s products. He has visited 30 countries to develop personal contacts with foreign buyers and suppliers. He is actively Engaged for diversification and expansion can modernization of ORPAT?s activities.

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MR. ASHOKBHAI ODHAVJIBHAI PATEL (partner)

Name: D.O.B.: Education: History:

Shri. A.O.Patel 4-7-1965 Doctor in Naturopathy

? All India sales depot of Ajanta are functioning under him ? 140 service stations spread all over the country is operating successfully. ? Look after all Advertising & customer related activities. ? He is also looking after market research and development affairs of the group.

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CURRENT SCENARIO
The latest position of orpat is that it is the world?s largest clock manufacturer in the form of quality wise. In current scenario they have 80% of total market in India and have appx. 30% to 40% market share in foreign countries. Now they producing: ? 100 different models of wall clocks. ? 40 different models of timepiece. ? 30 different models of telephone. ? 30 different models of calculators. ? 3 different models of educational toys.

They are having 140 wholesale department and 2500 retail outsets. Their install capacity are 25,000 calculators per day, 25,000 Timepiece per day, 10,000 telephone per day, 2000 toys per day, 12000 electronical accessory home appliance-10, 000 per day. The company is also trying to increase the domestic market share and also export market share. Orpat industrial state has a built up area of 6,00,000 sq.ft., with over all carpet area is 15,00,000 sq.ft. The company is currently providing employment to about 6000 out of 95% is female employee.

The company is the first in India to undertake in house I.C.chip Bonding. The company has already installed essential machineries, such as wafer saving machine, quartz watch analyer, automatic coil winder machine, ultrasonic wire bonders, CNC plastic injuction molding machine, mould/Dies, jigs and full-fidget workshop for in house mould manufacturing. ORPAT Company enjoys a

prominent base in the market of various countries of East, Europe, Africa and Asia.

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TIME KEEPING SYSTEM

It is compulsory matter for each and every company to assign certain time for certain employee. According to the rule of govt. any unit can?t take work more than 8 hours from the workers. This is beneficial for unit and workers also.

Beneficial for the unit because it is easy to calculate the wage of worker on the time or hour basis and beneficial for employee because it gives protection against their exploitation.

ORPAT has resister book system that every workers has record his or her name and time when they are come in and go out of the unit. Their shift arrangements are as follows.

Morning shift:-

7:30 a.m. to 12:00 p.m.

Afternoon shift: Night shift: -

12:30 p.m. to 6:30 p.m. 6:30 p.m. to 7:30 p.m.

Actually only ladies workers work in morning and afternoon shift, for night shift male workers are appointed.

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PRODUCT OF COMPANY

In Ellora Times LTD there are main four product lines i.e. regular products, home appliance, tiles, CFL products. But in each main product there are many other sub products which are as follows.

1) Regular Product: ? Telephone ? Calculators ? Clocks

2) Home Appliances: ? Sandwich toasters ? Electric kettle ? Ice shaver ? Water filter ? Edu. Toys ? Mixer Grinder ? Hand mixer ? Dry iron ? Pedestal fan ? Room heater ? Juice extractor ? Water dispenser (Hot & Cold) Electric deep fryer Hair dryer Multi utility stand Water purifier Synthesizer piano Hand blender Emergency light Steam spray iron Table fan Health scale Oven toaster griller

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3) Tiles: It is new establishing division of Ellora Times LTD at Kutch.

4) CFL: It is different by its watt capacity i.e. ? 5 watts ? 11 watts ? 18 watts ? 26 watts ? 36 watts 8 watts 14 watts 23 watts 30 watts

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PRODUCTION CHART
Production department

Production manager

Assistant Production Manager

Moulding Dept.

Glass Cutting Dept.

Assembling Dept.

Electron Dept.

Supervisor

Supervisor

Supervisor

Supervisor

Workers

Workers

Workers

Workers

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PROCESS OF PRODUCTION
The process of manufacturing all products is different but generally following processes are common and other specific procedure is given this common process. Process for clocks, telephone, calculator. First of all we can understand briefly production process by following chart. Injection moulding Department

Cabinet Cutting Department

Buff and cleaning Department

Hat Stampling Department

Hat Stampling Department

Glass Cutting Department

Electric Department

I.C. Boarding Department

Assembling Department

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FINANCE DEPARTMENT

Finance is the most important for the business because finance is the lifeblood of any organization. Without finance we cannot run our effectively.

The efficiency of production and marketing operations is directly influenced by the finance function of the enterprise. The finance department assumes an

important role in the business system and it should be equal important, as with production and marketing function.

Finance is required not only at the time of establishment, but also at the time of expansion, modernization, diversification, and replacement of assets. Every

company should be able to manage its finance efficiency and then only a company can prosper. The finance department in Orpat has a very good communication and relationship with ass the other department and it performs its function in the most suitable way with an eye on future planning. It commands the flow of cash and funds properly and it is the efforts of this department that the firm has a high reserve for future as a safety measure.

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ORGANIZATION OF FINANCE DEPARTMENT
M.D.

Administration department

Administration manager

Assistant Admi. Manager

Account Department

Finance Department

Account Manager

Finance Manager

Assistant Acco. Manager

Assistant finance Manager

Clerk

Financial Analyst

Peon

Executives

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CAPITAL STRUCTURE
Capital structure refers the long-term sources of fund, such as debenture, longterm debt, preference share capital and equity share capital structure including reserves and surplus. With unplanned capital structure can be simply defined as combination of various sources of finance at different proportion to finance the investment of company. Consequently it is being increasingly realized that a company should plan its capital structure to maximize the use of the fund and to be able to adopt more easily to be charging conditions.

Particular

As on 2005

As on 2004

Share Capital

5,00,00,000

5,00,00,000

Reserve &surplus

1,47,30,66,408

1,38,08,14,711

Secured Loans

10,65,73,125

9,22,17,830

Unsecured Loans

1,29,26,778

NIL

Total

1,64,25,66,311

1,52,30,32,541

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BALANCE SHEET Particular
Sources of Fund Share holder Funds: Share capital Reserve & surplus Loan Funds: Secured Loans Unsecured Loans Total Application of Fund Fixed Assets: Gross block - Less: depreciation Net block + Add: Work in progress Net fixed assets Investments: Current Assets, loan & Adv. Inventories Sundry debtors Cash & Bank balance Loans & advances -Current liabilities &provision Net current assets Miscellaneous Expenditures Total 715780216 12000 1642566311 688251779 24000 1523032541 524337348 157843566 27875262 386769806 381045766 431412355 143835884 88331544 3889377730 364265777 1775400995 1232708274 542692721 34081374 576774095 350000000 1774113052 1082678072 691434980 21321782 712756762 122000000 106573125 12926778 1642566311 92217830 NIL 1523032541 50000000 1473066408 50000000 1380814711

As on 31-3-05

As on 31-3-04

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RATIO ANALYSIS
Ratio analysis is widely used tool of financial analysis. It is designed as the systematic use of ratio to interpret the financial statement. So that the strength and weakness of a firm as well as its historical performance can be know. The term ratios means relationship between two figures or enables. It enables the analysis to draw conclusions regarding financial position.

? Current Ratio ? Quick Ratio ? Acid-test Ratio ? Net working Capital ? Gross profit Ratio ? Net profit Ratio ? Return on cap. Employee ? Assets turnover Ratio ? Debt equity Ratio

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CURRENT RATIO

Current Ratio = Current assets
Current Liabilities
? Current Assets

Year 2004-05 Inventories Sundry debtors Cash & bank Loan and Advances Total 524337348 157843566 27875262 386769806 1096825982

Year 2003-04 431412355 143835884 88331544 388937773 1052517556

? Current Liabilities

Year 2005-04 381045766

Year 2004-03 364265777

For 2005-04 Current Ratio = 1096825982 381045766

= 2.878

For 2004-03 Current Ratio = 1052517556 364265777

= 2.815

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LIQUID RATIO OR QUICK RATIO

Liquid Ratio = Current assets - Inventories Current Liabilities

For 2004-05 = 1096825982 - 524337348 381045766 = 1.50

For 2003-04 = 1052517556 - 431412355 364265777 = 1.705

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ACID – TEST RATIO

Acid-test Ratio = Quick assets Liquid liabilities
Quick assets = Cash + Bank + Easily marketable securities

For 2004-05 = 414645068 381045766 = 1.088

For 2003-04 = 477269317 364265777 = 1.310

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NET WORKING CAPITAL
Net working capital = Current Assets – Current Liabilities

For 2004-05 = 1096825982 – 381045766 = 715780216

For 2003-04 = 1052517556 – 364865777 = 688251779

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GROSS PROFIT RATIO

Gross profit Ratio = Gross Profit * 100 Sales

Year 2004-05 = 404501651 *100 1327849677 = 30.46%

Year 2003-04 = 555494915 *100 17273223318 = 32.16%

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NET PROFIT RATIO

Net profit Ratio = Net profit Sales

*100

Year 2004-05 = 922923122 1327849677 = 69.50% *100

Year 2003-04 = 899309707 1727322318 = 52.063% *100

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RETURN ON CAPITAL EMPLOYED

Return on cap employed = Net profit before intrest & tax Sh. Cap + reserve

Year 2004-05 = 50078416 1523066408 = 3.287%

*100

Year 2003-04 = 106735026 1430814711 = 7.46%

*100

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ASSETS TURNOVER RATIO

Assets Turnover Ratio =

Sales

Total assets

Year 2004-05 = 1327849677 1642554311 = 0.808

Year 2003-04 = 1727322318 1523008541 = 1.134

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DEBT EQUITY RATIO

Debt Equity Ratio = Debt
Equity

Debt = Loan & Fund Equity = Share capital + Share capital suspense + Reserve & surplus

For 2004-05 = 119499903 1523066408 = 0.078

For 2003-04 = 92217830 1430814711 = 0.064

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MANAGEMENT OF WORKING CAPITAL & FIXED ASSETS

MANAGEMENT OF WORKING CAPITAL:
Working capital plays an important role in any organization. The management of working capital is done in such a way that the firm does not faces financial crises because the scarcity of finance will create disturbance in the working unit.

Working capital management is concerned with the problems that aries in attempting to manage current assets, current liabilities and interrelationship that exists between them. The goal of working capital management is to manage the firm?s current assets and liabilities in such a way that a sa tisfactory level of working capital is maintain. For the working capital this unit has taken credit facilities as per its requirement but it is utilized in rare case.

MANAGEMENT OF FIXED ASSETS:
Fixed assets management includes management of land, building, plant, and machinery etc. the volume of fixed assets plays a very important role in company?s financial position. Fixed assets are the permanent investment done by the company. The capital invested in fixed assets incurs a fixed cost for the goods produced. Therefore if fixed assets can be minimized and quality of

production can maximized the company would go on strengthening.

There is risk in the fixed asset because of its long life. It can be divided into two parts that are tangible assets – building, plant, machinery etc. and intangible assets – goodwill, patents etc.

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INTRODUCTION OF MARKETING

The marketing philosophy of business assumes that an organization can best
serve and prosper by identifying and satisfying the need of its customers. Marketing is essentially about marshalling the resources of an organization so that they meet the changing need of customers on whom the organization depends. Customer?s needs are the starting – point for all marketing activity. Marketing managers try to identify these needs and develop products, which will satisfy customer?s requirements efficiently. As a business philosophy, marketing puts customers at the center of all the organization?s consideration.

Marketing is so basic that it cannot be considered as separated function. It is the whole business seen from the point of view of its final result, which is from the customer?s point of views, “ Marketing is the process of planning and executing the conception pricing, promotion and distribution of ideas, goods, and services to create exhanges that satisfy individuals and organization goal”

Marketing occupies an important position in the organization of business unit, traditional view of marketing states that customers will accept whatever product the seller presents to him. In this way main concern of the choice or the

behaviors of marketing has now changed. The modern concept may be viewed from the customer?s point of view. Producer does not produce whatever he likes but whatever consumer wants. human and social needs. “marketing need profitability”. Marketing deals with identifying and meeting

One of the shortest definitions of marketing is

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Ellora Time Ltd. Produces consumer goods, they are directly related with consumers. Here marketing is of great important because in today?s era The company?s main products are Clock, Calculators,

consumers are king of the market. In case of Ellora Time Ltd. But also captures international market.

Telephone, Timepieces, Home Appliance and Educational Toys are said to the most qualitative product at the reasonable price so customers favor these products. There is great demand for the Ellora Time Ltd?s products. Consumer is the center point and customer satisfaction is given prior important. Ellora Time Ltd. is given more and separate attention because it produces consumer goods, so it is directly with the consumers having complex nature. So with the increasing competition it has become crucial part in today?s organization.

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MARKETING STRATEGIES

ORPAT believes in attractive strategy. Orpat adopted low price strategy and target middle class households that are large segment. The reason behind that middle class households are price conscious. They preferred less price and medium quality. Initial purchase price is very important for them not long lasting features at premium.

ORPAT brand is available at every place. Orpat appointed its sales and service centers in major towns and cities across the all India. Its product distributed by its scales depot in different relational areas.

ORPAT also introduced concept of exclusive showroom.

It combines al its

product rang from small time piece clocks, calculators, telephone and home appliance at one place. Its showroom presently runs at Morbi, Rajkot, Surat, Baroda and A?bad, and Mumbai.

The other important thing is that they do not spread large sum on advertising but give good margin to retailers/ dealers, so that retailers would try to push ORPAT brand at the POP.

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STRUCTURE OF MARKETING DEPARTMENT

Chairman

C.E.O

National Marketing Manager

Zonal Manager (N + E)

Zonal Manager (S + W)

Area Sales Manager

Area Sales Manager

Sales Executives

Sales Executives

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MARKETING MIX
Marketing use numerous tools to elicit desired responses from their target market. These tools constitute a Marketing Mix.

Marketing Mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market.

PRODUCT Product variety Quality Design Features Brand name Packaging Sizes Services Warranties Return MARKETING MIX

PLACE Channels Coverage Assortments Locations Inventory Transport

PRICE List price Discount Allowances Payment Period Credit Terms

PROMOTION Sales Promotion Advertising Sales force Public Relations Direct Marketing

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1. PRODUCT MIX
Product is the pivot around which all the marketing activity revolves. People satisfy their needs and wants with products. Products can be defined broadly to cover anything that can be offered to some one to satisfy a need of want. The term product is used to cover the physical products, service products and other vehicles that are capable of delivering satisfaction of a want or need.

The products of ORPAT are clocks, calculators, and electronic items.

The

product of Orpat is made keeping in mind a particular class of people who belong to middle class and upper middle class, who cannot affords a costly clock.

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PRODUCT RANGE
With the dedication, commitment and hard work the company as a team is climbing the ladder of success and at present the company has a wide range of products in different segments.

Clocks:
Musical Pendulum clocks Musical clocks Wooden clocks Office clocks Simple clocks Alarm clocks Dual tone clocks

Telephones:
Basic phone Featured phone LCD display phone Advanced featured phone Caller ID phones Telephone stand

Calculators:
Basic calculators Check & correct calculators Scientific calculators

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Educational toys:

Home Appliance:
Irons Emergency light Penlight torch Room heater Sandwich toaster Pop up toaster Deep fryer Mixer grinder Hand blender Kettle Hand mixer Ice shaver Hair dryer Table fan Pedestal fan Wall mounting fan Air cooler Water sterilizer Water purifier Water filter Water dispenser Pump and glass stand

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637

38

FX-350TL OT-900

OST-1117

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A. Product Variety:
Product variety includes the types of products, which a company produces. Until the year 1993, the product variety of Orpat included only wall clocks. But in the year 1994 the company has included Electronic calculators to its product range. After the period of 1994 company launch Home appliances items and Educational toys. In 2003 company launch a new product CFL (Energy Saving Lamp).

It has around 100 models of Wall Clocks, 40 models of Time Piece, and 25 models of telephones, 35 models of calculators and 3 models of Educational Toys has to different sizes. All products Ellora Times Ltd have provided different variety of each products and different to other products. It has models of all classes of society.

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B. Quality:
Quality is important feature of a product and buyers make choices between completing product on the basis of the ratio of quality to price. Quality is an extremely difficult concept to define in a few words. At its most basic, quality has been defined as conforming to requirements. This implies that organization must establish requirements and specifications and the quality refers to that physical object or the intangible service for which the ultimate consumers is paying in terms of money or other or services.

Quality would only mean the durability of the product. But quality also includes other features like service it renders, the satisfaction it gives, the efficiency of the product and many more features which keeps on changing from consumer to consumer depending on the need of the consumer and the use to which the product is put.

Ellora Time Ltd gives first preference to quality because it wants to establish an image in the market. In spite of its lower price Ellora Time Ltd does not

compromise on quality. Compared to other brands Ellora Time Ltd has gained wide spread popularity mainly because its price is low and its quality is good. The company is ISO 9001:9002 and CE certified company and has a multi stage quality control from the Raw Material to the finished product to provide 0% defect products to the ultimate consumer.

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C. Design:
Design reflect the outlook and features of the product. Various aspects of product are to be kept in mind while designing a product, the are product differentiation, features, characteristics, performance, conformance, durability, reliability, responsibility, style, etc.

At Orpat a special designing team is engaged whose primary job is to formulate new designs for wall clock and electronic iteams. On an average this designing team design around 20-24 models every year with an average of around 2-3 models per month.

At present Ellora Times Ltd company produce various designs which are indigenously designs by the company.

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Wall Clock PRODUCT
Wall clock 1. Musical pendulum clocks 2. Musical clocks 3. Wooden clocks 4. Office clocks 5. Simple clocks 20 10 07 06 57

NO OF DESIGN

TOTAL NO OF MODELS

100

Alarm Timepieces PRODUCT
1. Wooden Alarm 2. Plastic Alarm

NO OF DESIGN
07 33

TOTAL NO OF MODELS

40

Telephone PRODUCT
1. Basic telephone 2. Featured telephone 3. LCD telephone 4. Advance Featured

NO OF DESIGN
08 06 05 06

TOTAL NO OF MODELS

25

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Calculator

PRODUCT
1. Basic calculators 2. Check & Correct Calculators 3. Scientific Calculators

NO OF DESIGN
12 14 04

TOTAL NO OF MODELS

30

Home Appliance

PRODUCT
1. Irons 2. Light product 3. Toasters and Fryer 4. Kitchen Product 5. Hair product 6. Air product 7. Water product

NO OF DESIGN
07 05 06 05 06 08 09

TOTAL NO OF MODELS

46

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D. Brand Name:
Brand name refers to that name through which the products of that company are recognized. Brand name can be a name, term, sigh, symbol or design or a combination of them, intended to identify the goods or services of one seller or a group of seller and to differentiate them from those of competitors.

There are several advantages of having brand name.

The brand name

makes it easier for the sellers to process orders and track down problems secondly. The seller?s brand name and trademark provide legal protection of unique product. Branding gives the sellers the opportunity to attract a loyal and profitable set of customers. Branding help the sale segment the market. Good brands help build the corporate image.

BRAND NAME 1. AJANTA QUARTZ 2. ORPAT ELECTRONICS 3. REWA

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LOGO OF ELLORA TIMES LTD

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E.

Packaging:

Packaging can be defined as the activities of designing and producing the container or wrapper for a product. The container or wrapper called the

package. Almost all physical products going to the market are packaged and labeled. Packaging plays a major role in case of expensive product and also in cases when the product is delicate and has a high percentage of breakage. Packaging is the fifth “P“ of marketing mix along with product, price, place and promotion.

Packages have become a potential marketing tool. Well-designed packages can create convenience value for the consumer and promotional value for the producers. Consumers are willing to pay a little more for the convenience, appearance, dependability and prestige of contributes to instant recognition of the company or brand. Innovative packaging can bring large benefits to The packaging is another important

consumer and profits to procurer.

component of the product personally especially in consumer products. The package performs two essential roles first, is giving protection to the product and second, in the promotion of the product. Developing and effective

package for a new product is not an easy task. It requires several decisions like establishing the packaging elements like size, shape, materials, colors, text, brand mark, etc.

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F.

Size:

Size refers to the magnitude of the product. The importance of size differs from product to product. Satisfying the consumer would mean reducing the price or increasing the size or improving the quality. Size has a psychological effect on the consumers, where as quality is an intangible.

The size of clocks and electronic items of Ellora Times Ltd. differs from every model. If the design is such that a small size enhances the design, then the size is kept small. Ellora Times Ltd provides large, medium, small size of

wall clock and Time pieces. In clocks depending on the use for which the clocks are meant E.g. kitchen, home, office, institution etc. in Calculator they have to provide pocket calculator, Hand hold economic calculator and Desk top calculator. And Big, small, very small sizes are available in Telephone. Ellora Times Ltd provides three different size Educational Toys. And various in Home Appliance products.

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G. SEVICES
Services are activities, benefits or satisfaction that is offered after sale. In other words, a services is any act or performance that one can offer to another that is essentially intangible and does not result in the ownership of anything. Manufactures of equipments, small appliance, office machine, etc. mist provide a service bundle to their customers. Firms that provide high quality service undoubtfully outperform their less service-oriented

competitors. There are various alternatives of offering after sales service, e.g. the manufactures could provide these services or the manufactures could make arrangement with distributors and dealers to provide these service or the manufactures could leave it to independent services specialist firms to provide these services or the manufactures could leave it to its customers to service their own equipment. Thus the consumer?s durable market is highly competitive in term of after sales services. From the product point of view, the higher the period after sales service, higher will be the sale. From customer?s point of view, after sales service will increase the durability of the product. In “Orpat” after sales service is provided during the guarantee period. The guarantee period is of one year, during one year if any problem arise e.g. movement is not working properly, music of the clocks are not working will be replaced without any cost. If any damage is occurred after the guarantee period then company will take normal charge.

Fro the better service to the customer company has stated his own showroom in Morbi, Rajkot, Baroda and Mumbai and 300 sales depo and service station where any Orpat product can also be required.

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H. DEALERS OF COMPANY IN INDIA
ANDRAPRADSH MAHARSHTRA J&K HARIYANA MAGHALAY DELHI BIHAR KARNATAKA ORRISSA M.P. GUJARAT Surat. TAMILNADU PANJAB U.P. GOA WEST BENGAL RAHASTHAN KERALA : : : : : : : Coimbatur, Madurai, Chennai Jallandhar, Ludhiyana Allahabad, Ghajiabad, Kanpur, Lacjnow Goa Calcutta, Kharagpur Jodhpur, Jaipur Calicutt, Trivendrum : : : : : : : : : : : Hydrabad, Vijaywada, Kurnool. Mumbai, Puna, Nagpur, Nasik Jmmu Amblacanti, Puprola Shillong Delhi Ranchi, Patna Banglore, Humbli Bhuneshwar, Cuttack Jabalpur, Raipur, Bhopal Ahemedabad, Anand, Baroda, Rjkot, Morvi,

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I. RETURNS
Returns are the total benefits available to the company both tangible and intangible. Return may be on the total capital invested, on the sales Whatever be the factor on which

promotion activates, or on any factor.

returns are derived. They are always beneficial to the company. Returns are the only factors for which all the activities of production and distribution are carried out.

Ellora Time Ltd Company gets substantial returns on all factors. It gets a substantial amount of profit every year. Out of the total investment of 67 crores, it has an annual turnover of Rs. 200 crores. Moreover Ellora Time Ltd is leader in the wall clocks not only in India but also in international market. Ellora Time Ltd is leader in the Wall Clock market with having a 70% market share. So its return on sales promotion activates has made it the leader of Wall Clock industry.

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2.

PLACE MIX:

Place is another key marketing tool and stands for various activities which the company undertakes to make the product easily accessible and available to the target customers. Place mix is also called distribution mix and available to the target customers. Place mix is also called distribution mix and

constitutes of all those activities, which are necessary for the physical distribution of goods and services. Place is second marketing tool and

important for all types of business. It is a stand where all activities of the business are done. To satisfy the consumer needs in today?s economy the producer and consumer are separated by vast distance, so it is necessary to fill this gap. To supply the product to targeted customers company must take help of distribution channel.

Place mix is also called as distribution mix. It refers to the selection of a mix of different types of distribution channel for transmitting the goods from producer to consumer. Selection of distribution channel is also very critical decision. Location decision is also considered in place mix. Location decides the other decision of place mix. Location also plays a critical role. For a retailer,

location plays a pivotal role as a good retailer locates his retail counter in a place where there is no demand for the product. Then it would ultimately lead to the closure of the outlet. The physical distribution is the most important factor or element of place mix. It is through physical distribution only that the product reaches its ultimate consumer. inventory also form a part of the place mix. Transportation, warehousing and

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A. CHANNEL OF DISTRIBUTION

Marketing channel decision are among the most critical decision facing management. The company?s chosen channels intimately affect all the other marketing decisions. The company?s pricing policy also depends on the channel of distribution selected. The firm?s sales force and advertising decisions depend on how much training and motivation the dealer needs. In addition, the company?s channels of distribution indicate route or pathways through which goods and services flow or more from producer to consumers. Thus, distribution channels can be defined as main part of institutions participating in the marketing activities involved in the movement or the flow or goods services from the primary producer to the ultimate consumer.

In general sense distribution channel means a way through which goods flow from the producer. “Any sequence of institution from the producer to the including one or any number of distribution is to supply the goods to ultimate customers. Distribution channel include producer, wholesaler, retailer and consumer. It is considered as important element of marketing mix.

Ellora Time Ltd company has a relatively simple channel of distribution. The company has selected its channel in such a way that the marketing intermediaries, namely, distributors earn a substantial profit and at the same time company frees itself from the burden of dealing with the retailer. Ellora Time Ltd company?s distribution network currently includes around 300 wholesalers and around 50,000 retailers dotting in the country. The company has one of the best distribution networks in the nation.

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Ellora Times Ltd company has appointed distribution in each region og the country as well as in other countries. These distributors in turn selected and appointed retailers who sale their product to the ultimate customer. The channel of distribution of Ellora Time Ltd?s are:

ELLORA TIME LTD

NATIONAL MARKET

INTER NATIONAL MARKET

Manufacturing

Sales officer

Wholesaler

Wholesaler

Retailer

Consumer

Consumer
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AUTHORIZED SERVICES CENTERS IN INDIA NAME OF THE STATE NO. OF AUTHORIZED SERVICE CENTER
11 07 07 02 08 03 02 05 06 06 18 04 04 05 02 02 03 09 10 11

1. Andhra Pradesh 2. Assam 3. Bihar 4. Goa 5. Gujarat 6. Haryana 7. Himachal Pradesh 8. Karnataka 9. Kerala 10. Madhya Pradesh 11. Maharastra 12. New Delhi 13. Orissa 14. Punjab 15. Chandigarh 16. Jammu & Kashmir 17. Rajasthan 18. Tamilnadu 19. Utyar Pradesh 20. West Bengal

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B. COVERAGE
The term „coverage? refers to the spread of the areas of the company?s product. The coverage of the market depends upon distribution policy of the company. The company initially wishes to cover that area; it may wish to expand its horizon. On the other hand, some companies prefer to cover a large market at the same time so that there is a saving of distribution cost. The coverage of the company may be wide or limited, but all the same, the company has to spend a substantial amount on distribution expenses vary. distribution is firmly established, the going is smooth. But once a channel of

Ellora Time Ltd Company covers a vast area, which includes the whole of India, and many other countries of the Middle East, South Africa and Asia. Today Ellora Time Ltd products enjoys prominent place in more than 45 counties. In spite of this vast coverage, the company can easily manage its manage its distribution channel because it has only to cover its distributors in terms of supply.

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C. INTERNATIONAL MARKET
Because of globalization and liberalization, the world has become small. Now a day, the area of business is not limited up to the boundaries of the country but it expands all over the world. There are many companies of India whose business is spreaded in the world. International marketing refers to buying and selling activities beyond the country; this unit has very wide export market in the world. In the export market, the critical factor in national?s economy Ellora Time Ltd has been leading in performance out of total quantity manufacture every year nearly 15% being exported pieces is the Azaan Alarm Clock that is programmed to ring the Namaaz prayer-an enormously successful product in the Muslim Countries. A matter of price is Ellora Time Ltd?s top ranking performance in export of Alarm Clocks in the higher end of trendy and quality conscious Assam, Africa, Europe and Middle East markets, India?s largest export of clock. Ellora Time Ltd exports 45 countries to its product and received export performance awards. It has won the ESC Award for the highest export in the field of electronics by the Ministry of Communication and Information Technology (Govt. of India) for consecutive 10 years. Ellora Time Ltd company?s international office in Dubai and ma nage the 45 countries network of international market.

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D. TRANSPORTATION
Orpat uses different means of transport depending on the distance and the speed. Whenever the company sends export consignments to various

countries of the Middle East, South Africa, Europe. Etc. it is always from the Kandla port and it uses ship as it mean of transport. This is water transport.

While supplying the clocks to domestic distributors, the company prefers road transport because it is faster and it offers unlimited geographical location, which can be served easily. Orpat has its own trucks for transportation and for employees they have own buses to transport.

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3. PRICE MIX

Price is the only element of marketing mix that produces revenue. The other entire element like product, place and promotion produce cost. Pricing and price competition is the no. 1 problem facing the marketing executives. Price is the value given up, consumers may purchase a substitute product is not worth the value given up; consumer may purchase a substitute product or decide not to purchase the product at all. Consumers exchange something of value, normally buying power, for the satisfaction or ability they expect from. Organization can adjust prices much more easily than they can modify the product change, the promotional program or redesign the distribution systems. Price as a the marketing mix distribution efforts require expenditure by a firm. The price of a product determines how much money comes into an organization. Thus, price affects an organizations profit, which is vital for long-term survival. In spite of the high degree of importance given to price mix and the fact that price mix is the only revenue-earning element, most companies do not handle pricing well. The most common mistakes are made when price is considered to be cost oriented, price neither is nor revised often enough to capitalize on market changes. Price is set independent of the rest of the marketing mix rather than as an intrinsic element of market positioning strategy and price is not varied enough for different product items and market segments.

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Price is a value of goods. From customers point of view it is revenue-pricing decision, which is considered very critical decision because it declared the sailing volume, profit and image of the firm. While deciding price all factors are considered that affects the produce as well as consumer. The factors may be economical, social, potential and other factors. Thus, a major part of success of business depends on its price, how consciously the price of a product is decided. Price mix is the important part of the marketing mix. It determines company?s market share profitability. Price is critical marketing mix tool and is the amount of money that customers have to pay for the product.

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A. PRICING OBJECTIVES
Pricing objectives is a general goal that describes what an organization hopes to achieve through its pricing activities. Pricing objectives should be measurable so that they can be evaluated. Since they effect decision in other fictional areas, such as finance and production, they must be consisyent with the organizational mission and objectives. The company can pursue any of the six major objectives through its pricing. These objectives can be in term of survival in the market, maximum current profit, maximum current revenues, maximum sales growth, and maximum market skimming and product quality leadership. The pricing policy of Ellora Time Ltd company is formulated keeping in mind the fact that majority of Ellora Times Ltd?s consumers belong to upper middle class and middle class. Therefore, the pricing policy is formulated in such a way that it is affordable by all classes of people and is not a burden on their income. The main aim of the company while setting price objective is to maximize sales growth and current revenue by keeping the cost as low as possible, in turn increasing both sales and market share. At the end of the financial year, the top management of the company sits together and formulates all policies of the company, including the pricing policy. The pricing policy is formulated keeping in mind the estimated sales, estimated revenue, estimated profit, estimated annual turnover, etc. all these figures are calculated on the basis of past performance and future estimated sales.

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B. PRICING DECISION
Pricing is a very critical decision in marketing management. The main objective of the firm, that is to earn profit depends upon the correct price decision. After meeting all the cost involved, the sales revenue generated must yield a surplus before there can be profit. The sales revenue figure is however materially affected by the price changed for the product. “Price is the only element in the marketing might create sales revenue; the other elements are costs”. Wh at price should be charged for a product is a crucial question. Several factors-economic, social, political and other factors influence the pricing decisions. Moreover

marketing condition i.e. position of company or company product in the market or competitive situation affest the pricing decisions. Now a day?s Ellora Time Ltd Company is trying to create image. So its basic aim is to earn profit but main aim is to establish the product. Ellora Time Ltd has following pricing decision.

1) Market Penetration 2) Product quality leadership 3) To cover the cost

Ellora Time Ltd decides price of their products depend on market monopoly, cost of raw material, government policy, distribution margin and most important thing is their comparison to their competitor. All include these factors then they has to take price decision.

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C. PRICING METHOD
After deciding pricing decision, the next function is to set up price. This is a very important and difficult task because many factors affects while deciding a price. Two main factors helpful in deciding price are competitor?s price and cost element. A part from these two customer?s purchasing is also considered.

So far as Ellora Time Ltd has concerned it has selected the traditional method known as cost plus pricing to determine the prices of its products. It is widely used by business organization. So here, company determines the prices by adding cost and predetermined percentage of profit. This method includes

various costs like material cost; labor cost, overhead expenses, sales tax etc. and 8 to 10 % margin of profit. This percentage may change year after year.

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D. PRICE LIST
Any company, which adopts the Dealer- Retailer Channel of distribution, has to be very careful while formulating its pricing objective and pricing policies. These companies have to print and circulate price lists periodically in order to make the dealers, retailer and consumer aware of the price. Also the Maximum Retail price at which the product is to be sold is usually printed on the package. To the company, it is a statement, which indirectly show the future profit. Price list tie the hands of the dealers and retailers in term of maximum price of the product.

The pricing policies of Ellora Time Ltd Company are formulated at the end of every current financial year. Then the top management sits together and revises its pricing policy for the next financial year. Keeping in mind the class of

consumers to which the next company relates, it always strives at achieving a low cost of production, which would mean a low and affordable selling price without compensating the profits. At the end of every financial year, after the company formulates its policy for next financial year, separate price lists are prepared, printed and circulated to the various dealers who in turn distribute them to retailers. This price list is effective from the date specified and all previous price lists become ineffective.

The change in price of Ellora Time Ltd are chiefly due to a change in the prices of raw materials, import of new technology, change in exchange rate in the industrial policy of the government, etc. keeping in mind these changes, the company revises its existing price list and formulates the new one. Though it looks like a relatively easy task, it is not so. The large amount of hard work and effort, which goes behind the preparation of price-lists, cannot be measured. The top management and various other employees of the company, workday?s together to prepare the final price list.

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PRICE LIST OF THE ELLORA TIME LTD?S PRODUCTS

WALL CLOCKS

Products
1. Musical and Musical Pendulum 2. Sweep 3. Wooden and Pendulum 4. Fancy and Big 5. Wood Plat 6. Economic Range

Price
Rs. 240 to Rs. 19000 Rs. 170 to Rs. 1450 Rs. 170 to Rs. Rs. 130 to Rs. Rs. 210 to Rs. Rs. 65 to Rs. 400 280 230 135

TIME PIECES

Products
1. Table Pendulum Time Pieces 2. Devotional Type Alarm 3. Bell Alarm 4. Snooze Alarm 5. Simple Buzzer Time Pieces

Price
Rs. 150 to Rs. 320 Rs. 400 to Rs. 300 Rs. 150 to Rs. 195 Rs. 105 to Rs. 190 Rs. 85 to Rs. 165

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EDUCATION TOYS

Product
1. Education Toys and weight Scale

Price
Rs. 325 to Rs. 2200

CALCULATOR

Product
1. Check and Correct Calculator 2. Basic Calculator 3. Scientific Calculator

Price
Rs. 199 to Rs. 465 Rs. 60 to Rs. 320 Rs. 220 to Rs. 300

TELEPHONE

Products
1. Advance Featured Technology Telephone 2. LCD Display Telephone 3. Featured Telephone 4. Basic Telephone

Price
Rs. 1410 to Rs. 2190

Rs. 485 to Rs. 950 Rs. 410 to Rs. 600 Rs. 280 to Rs. 405

Ellora Time Ltd gives 20% discount to his dealers and also at Diwali time, given surprised gift to his distributors who achived targeted sale. This policy of Ellora Time ltd. motivates the distributors and ultimately increases the sales volime. Company give offering discounts to dealers and retailers is very effective and has resulted in an increase in the total sales and sales revenue of Ellora time Ltd.

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E. DISCOUNTS
The term Discount means a deduction from the nominal value or price or amount of the product. In other words, discount is the amount which is taken off the full price of the product. Most companies modify their basic price to reward the customers for such acts as early payment, volume purchases and off – season buying. These price adjustments are called discounts. Discounts are a very popular tool in the hands of the top management to increase their sales. The companies make efficient use of the tool to expand their sales. The companies make efficient use of top management to increase their market. Discounts, being a reduction in the original price of the product, are a relatively cheep form of attracting new customers and sustaining old ones. Discounts can be offered in various form like cash discounts, quantity discounts, functional discounts, seasonal discounts, etc. discount are direct benefit to the consumers and an indirect benefit to the manufactures benefit in term of increase of sales, increase in the total revenue, reduction of stock, and many other intangible benefits.

Ellora Time Ltd Company dose not allow any direct discount to their dealers, retailers and consumers. But at the end of the financial year, the company gives a surprise gift to its dealers. This gift may in term of cash money depending on the quantity of clocks sold or some other tangible gift also depending on the clocks and other products sold. The gift itself is a surprise. This is an incentive to the dealers and retailers to sell more. It totally depends on the dealers and retailers and incites then to sell more other products and clock of Ellora Time Ltd rather than of any other brand.

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F. ALLOWANCES
Allowances are other types of reductions from the list price. An allowance is an amount offered in return for the retailers agreeing to featu res the manufacture?s product in some way. An advertising allowance compensates retailers for advertising the manufacturer?s product. A display allowance compensates them for carrying a special product display. Allowances are another reduction from prices they are given to dealers to promote the sales. promotional tool. product of a firm. Ellora Time Ltd has given fix margin of allowance to its dealers. It?s depending upon the relation with dealers to the company. Some time dealers are given extra allowances to its dealers or retailers. This is because the company itself directly carries on all the trade promotion activities. promotion is centralized. Thus, the process of It is an efficient

In other word, it is a return to distributors for favoring the

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G. PAYMENT PERIOD
Payment period is a critical aspect of any manufacturing organization. Payment period refers to that period of time within which the dealers have to pay the money to the manufactures. Payment period is a crucial period of time. This is because the company has to plan its revenue and expenses depending on the payment period. If each payment is very short then the capital turnover is very liabilities easily. If, on the other hand, the payment period is very long then the capital turnover is very low and the company always experiences a deficiently in the funds. Considering the important of payment period, careful calculations and computations are necessary and are usually carried out in order to arrive at the effective payment period. This period is binding on both the consumers and the producers.

The terms of credit always depends on the policies of the company giving the payment period. It is usually arrived at by an agreement between the seller and buyer. Ellora Time Ltd Company has no direct connection with its ultimate

consumers. Company only has a direct connection with their distributors who sell and promote only Ellora Time Ltd products. So they have only to consider the payment period of the distributions. It is the distributors who have to worry about the payment period of retailers and the retailers sell the products of Ellora Time Ltd to the ultimate consumers in cash. Ellora Time Ltd has a well goodwill as well as very big popular name in Clocks and Electronic product so they can get half payment in advance and remaining amount is collect 25 to 30 days to it?s dealers. This is considering only distributors.

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H. CREDIT TERMS
Payment period is also called the credit period because it is the period for which credit is allowed to the consumers. The term of credit always depending on the policies of the company giving the payment period. Credit terms refers to the rules and regulation in the credit facilities which the producers and consumers in relation to the credit facilities which the producers give to their consumers. Depending on the policy of the management of the company, credit terms may remain the same from consumer to consumer. Credit terms may also change when the policy of the company changes over a period of time. Credit term can be defined as a set of rules and regulations, which bind the parties to agreement in obeying them and abide by them.

The credit terms of Ellora Time Ltd Company are fairly straightforward. The credit period allowed to the dealer is 25 to 30 days. The company also takes a deposit from the distributors against the dealership allocated to them. The company usually does not allow a credit, which is more than the deposit. So the company is fairly safe in relation to the credit facility. When the company exports its wall – clocks to other countries, it delivers the consignment only after it receives and irrevocable letter of credit, the delivery is done within 60 days. All bank charges are on the account of buyers. Thus, the terms of exports are more stringent as compared to the domestic market. This is chiefly because a company cannot easily recover its due from on site demand incase a distributor turns defaulter.

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4. PROMOTION MIX
Promotion means to push forward or to advance an idea in such a way as to gain its acceptance and approval. Promotion is any communicative activity whose main objective is to move forwards a product, service or idea in any channel of distribution. It is an effort by a marketer to inform and persuade buyers to

accept, resell, recommended or use the article, service or idea, which is being promoted. Promotion is a form of communication with an additional element of preference and behaviors of buyers. The element of persuasion to accept ideas, products, services etc is the hart of promotion. Modern Marketing calls for more than developing a good product, pricing it attractively and making it accessible to target customers. Company must also communicate with their present and Every company directly or indirectly plays the role of To communicate effectively, companies hire

potential customers.

communication and promoter.

advertising agencies to develop effective advertisements, sales promotion specialists to design sales incentive programs and public relation firms to develop corporate image. knowledgeable. They train their sales people to be friendly and

For most companies, the question is not whether to

communicate but rather what to say, to whom and how often.

Essentially, promotion is a persuasive communication to inform the prospective customers of the existence of the product, to persuade and convenience them that those products have satisfying capability. Consumers, really speaking buys a bundle of expectation to satisfy their economic, psychosocial wants and desires. The promotion offers the message namely the communication of these benefits to the consumers. Promotion is responsible for awaking and stimulating consumer demand for the product. It can create and stimulate demand, capture demand from rivals and maintain demand for the product even against keen competition.

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A. SALES PROMOTION
ales promotion is an activity or material that offers consumers, salespersons, or resellers a directs inducement for purchasing a product. These inducements, which add value to or incentive for the product, might take the form of coupon, sweepstakes, refund, demonstration or display. Some firms even give away free samples as an inducement to purchase a product. The term sales promotion should not be confused with promotion, which also includes advertising, personal selling and publicity. Sales promotion techniques are gaining popularity with

consumers. Organizations often make use of sales promotion to reinforce the effectiveness of other ingredients of the promotion mix, especially advertising and personal selling.

Ellora Time Ltd Company uses two types of promotion schemes.
? Dealers Intensive Scheme ? Consumer Intensive Scheme

Dealers Intensive Scheme
The promotional incentive schemes of dealers are as follows.

1. Buying allowance and display allowance 2. Advertising allowance and display allowance 3. Trade discount and other special discount 4. Sales Scheme

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Ellora Time Ltd had given a trip to Bangkok in year 2002-03 to their dealers who have completed the target selling the product. Ellora Time Ltd Company also offers free after sales service within the guarantee period. The dealer on their products purchase. Like buy 10 get 1 free. Sometimes company make foreign trip, domestic trip on the specific target assigned to the dealers.

Consumer Intensive Scheme
1. Seasonal Discount 2. Festival Discount 3. Marriage Discount

Ellora Time Ltd Company carries out sales promotion activities in number od ways. The most important of them is the printing on and spare wheel covers of the scooters of the message displaying where Ellora Time Ltd?s products are available. consumers. Eloora Time ltd also prints polyurethane bags and supplies it to Company also gives gifts to its customers on over purchase of

clocks. The gifts are pen set, covers and money purse, carry bags.

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B. ADVERTISING
Advertising is a form of mass communication. A sponsor who wants to

communicate about his product or service to his customers pays it for. The sponsor wants to persuade and induce the readers, viewers as listeners to take some actions, to but the advertised product so that the advertise can have profitable sales. In other words, advertising can be defined as mass, paid

communication because the advertisers has to pay for space or time in which the advertise will appear. Advertise appears in recognized media such as

newspapers, radio, television, magazine, cinema film outdoor hoarding poster direct mail, etc. advertising is a highly public mode of communication. It?s public nature confirm a kind of legitimacy on the product and also suggests a standardized offering. Because many persons receive the same message,

buyers know that their motives for purchasing the product will be publicity understood. On the one hand, advertising can be used to build up a long-term image for the product, and on the other to trigger quick sales.

Ellora Time Ltd Company has give advertisements responsibility is assigned to REDIANT Agency in Ahemdabad. This agency prepares the advertisement for different media; the agency decides as to advertising it does advertisement to maintain the position in the mind of people. The advertisement of Telephone, Calculator, Educational Toys, Wall Clock, Timepieces, are done with the purpose of making people aware about the products of Ellora Time Ltd brand.

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Ellora Time Ltd?s Main purpose of Advertisement
1. To retain the market monopoly and maximize the market share. 2. To retain the Brand identity of the Ultimate Consumer. 3. For the development of the new products and to gain the upper edge over the competitors.

Advertisement budget
advertisement budget are the advance planning of how much funds will be allocated in agencies media and other ways. Ellora Time Ltd Company spends a substantial amount on its advertising campaign. In the current financial year Rs. 2 caror have been allocated to the advertising budget. And sometime company choose advertisement budget depend on the advertise frequency of the product season too. Each year, the company allocates a fixed of money which is to be used in advertising the company?s is product. This amount is dividing among various media depending on the priority givens to each media by the company.

Advertisement message
Ellora Time Ltd captures all the sections of the society 1. Quality (ISO 9002 certification) 2. Economical Price 3. After sales service through out the country 4. One year warranty 5. World class products 6. World?s largest clock Manufacturer 7. India?s largest clock Manufacturer

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Name of the Media adopted of Ellora Time Ltd

T.V.
Ellora Time Ltd Company has given advertisement in T.V. channels like Sony, Set-Max, Sanskar, Astha, and now they give their company?s product advertisement in Sahara Rastriya channel. Ellora Time Ltd has given

advertisement different channel from time to time. Time of advertisement various also according to the budget and duration of advertising.

Newspaper
Ellora Time Ltd has given advertisement in newspaper varies from city to city and state to sate according to their circulations. Ellora Time Ltd gives contract in Jaihind Newspaper for one year. These newspapers cover whole surastra in Gujarat and give advertisement of Ellora Time Ltd products in front page in every day. In these newspapers give advertisement of different products of Ellora Time ltd every day.

Magazines
1. Jet Airways Magazines Ellora Time Ltd has given advertisement in Jet Airways Magazines to Get the coverage of the premier segment of the society.

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2. Trade post

Company give advertisement in Trade post Magazines this magazine is Watch market Review of world clock Manufacturer Company for the Coverage of the horological Trade. And Company also participation in the Exhibitions and Trade fairs by the Distributors at the local level.

Advertisement copy
The success of advertisement depends very much upon the copy of advertisement. The main aim of the advertisement is to attract the customer and create and urge in his mind to have that product. The achievement of this aim depends upon effectiveness of advertisement copy. Advertisement copy is

written or spoken material of advertising campaign and most includes headline, name and address of the advertisement, as well as the main text of message.

Ellora Time ltd. mostly gives advertisement on T.V., Magazines and Newspaper. In T.V. they show a No. Of models of Wall Clocks, Telephone, Calculator, Home appliance, Timepieces, Educational Toys with attractive musical appeal here the theme is to show the variety of models of company to the customers. The

company has used and old lady in the advertisement it is to be unique among various advertisement of the company. The slogan of the company is “THE WORLD?S LARGEST CLOCKS MANUFACTURER” This slogan use only in clock advertisement. In Telephone, Calculators company give slogan is The India?s Largest Telephone, Calculator manufacturer.

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ADVERTISE OF ELLORA TIME LTD FOCUS IN VARIOUS MEDIA

10%
Magazine

45%

25%

Newspaper Televison

C. SALES FORCE
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The term sales representative covers a broad range of position in the company. Sales representative can be a deliver, order, taker, technician, demand creator etc. The positions range from the least to the most creative type if selling. Sales personnel serve as the company link to the customer. The sales representative is the company to many of its customers and in turn brings back to the company. Much needed information about the customer, which acts as a feed back to the company.

Ellora Times Ltd. Company has no such system of appointing such direct sales force. However, the company gets the advantage of the biggest utility of sales force viz. feedback from customers through the company has not appointed any directs sales force, indirectly the sales force appointed by distributors work for the company, in the sense that they gather vital information for the company.

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D. PUBLIC RELATION
Public relation is an important marketing tool, which until recently was not given the due importance. The public relation department is typically located at The public relations department deals with stock

corporate head quarters.

holders, employees legislation, community leaders and performs other functions such as press relation, product publicity, corporate communication, counseling etc. it can helpful in launching a new product, building the good image of a new firm and developing the firm reputation. Ellora Time Ltd Company?s group has maintained a good relationship with society. They have built up a school at morbid. They have invested good

amount of money to maintain the relationship. More over they have develop infrastructure of the morbi city. Currently they have building up girls hostel at Rajkot city. Ellora Time Ltd group are always remain ahead in public services. More over, they have donated money at pate seva samaj co. provides services to patel community. Ellora Times Ltd create charitable trust who helps needy

student, and help to needy people to give medicine and cloths, help to effected during natural climate tragedy.

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E. DIREST MARKETING
Direct marketing attempts to compress these elements to lead to a direst sale without using intermediateries. Although direct first emerged in the form of direct mail and mail order catalog, it has taken on several more forms in the recent years. Direct marketing is an interactive system of marketing, which uses one or more advertising media to effect measurable response and transaction at any location.

Ellora Time Ltd Company has a wide and efficient channel of distribution, which covers all the nooks and corners of the country and also has distributors in more than 45 countries abroad. This has lead to diminishing the importance of directs marketing of the company. Therefore, the company dose not believe in wasting its time, money, efforts and sales force behind direct marketing when it can use them logically to others promotional activity.

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MARKETING SHARE ANALYSIS

All over in India Market share of Ellora Time Ltd.

30% 70%

All over in India others

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Market share in Wall Clock

40% 60%

clocks others

Market share in Calculator

20% 80%

calculator others

Market share in Telephone

83

40% 60%

Telephone others

Market share in Time Pieces

10%
Time Pieces

90%

others

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Market share in Home Appliance

4%
Home Appliance others

96%

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PERSONNEL DEPARTMENT Recruitment, Selection & Induction

RECRUITMENT:
Recruitment is the process of selection for prospective employees and stimulates them to apply for job in the organization. It means recruitment deal with discovering potential employee for actual organization vacancies. There fore, it has been regarded as the most important function of the personnel department because it is necessary that proper position. The recruitment policy of the company is ? Publication in newspapers. ? Offer letter to the institutes ? Internal recruitment ? Consultant (Placement agencies)

SELECTION:
Selection is a deliberate effort of the organization to select a fixed number of applications. Selection means putting right person at the right place. The company?s selection process is: ? Screening of application ? Preliminary interview ? Offer letter ? Reference check ? Final Interview

First of all preliminary interview is taken by marketing department and top management takes final interview.

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INDUCTION:
When a new worker joins an organization, he or she enters in the new surrounds, he has always confusion. To overcome the problem, the induction technique is followed, by which new employees are rehabilitated into the changing situation and introduced to the practices, policies and purposes of the organization. In Orpat new employee is given full information about employ?s current si tuation and duties, policies etc. as follows In specific way induction process followed by Orpat is

? Induction in department ? Induction with head ? Induction with interrelated departments

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JOB DESCRIPTION

Job description is a written record of the duties, responsibility and requirements of particular job. It is a statement describing the job in term of its duties, working conditions and hazard. So job description means providing guidance and the information to the candidates about their job for which they are selected.

In Orpat the HRM of company for all type of employees middle level as well as workers and all executive employees at management level gives job description. This job description of Orpat is very useful to employees of the company, by which they can easily aware the organization relationship and duties on a given job.

Thus job description provides knowledge about what, where & how to perform the job.

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TRAINING AND DEVELOPMENT
The training and development is not only for higher productivity but also for satisfaction and high moral of workers. training and development programmed. Workers can improve their skills by

TRAINING:
Training is an act of the job training method. They provide training according to the requirement. When any new applies or new technologies are adopted then training is given to their workers. There are main two type of training. ? On the Job ? Off the Job

In Orpat they adopt on the job training. In this company training is given for three months to the new workers. First of the trainee is kept with existing worker and he has to understand the production process.

The company also follows job instruction method. In this instruction are given by the manager of a particular department to their employees and workers. Thus proper knowledge about the job or machine will enable the worker to work more effectively.

DEVELOPMENT:
Development is a long-term educational procedure. It refers to philosophical and practical educational concept and it involves the development of the overall personality of the managers. Orpat does not provide any special development programs to its employees.

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PROMOTION & TRANSFER POLICY

PROMOTION:

Promotion involves movement of a person to higher status, more pay, increased responsibilities and increased benefits in same organization. It provides motivation to the person.

In Orpat, employees are getting promotion on its working abilities, knowledge, and skills. They are not looking seniorities or experience. If there is any new employee and he work well than the experienced employee than he can get promotion.

TRANSFER:
Transfer is a movement of an employee from one job to another without involving any substantial change in his duties, responsibilities, required skills and compensation.

As Orpat is a very large company it has a number of different units worker are transferred from one unit to another unit as per the requirement. Only workers are transferred in the Orpat.

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WAGES ABD SALARY ADMINISTRATION

Wages is remuneration paid against the service of the labor in the productive process and salary refers to administrative and professional level. Generally wages is calculated on the basis of work done. It depends upon the policy of the company. A wages and salary plan is helpful in maintain good industrial relationship.

At the time of selection of an employee, basic wages rate is fixed. In addition to the basic wage rate various allowances as medical allowance, etc are added.

In Orpat female get cheap wage than male. Workers are hired on daily wages basis. Generally the workers get Rs. 45 to 65 daily wages according to work. Salary is given to professional and administrative employees. Generally salary of employees is between Rs. 5000 to 7000 as per their post.

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FACILITIES TO EMPLOYEES

The employees of the Orpat are getting many appreciable facilities and services which are as follows:

1) Overtime facility:
Workers are given satisfactory wages. Besides they have over time facilities. As workers are from backward areas they need money. So overtime system is useful to them.

2) Hostel facility:
This company provides the hostel and mess facilities to bachelors.

3) Medical facility:
Workers get the benefit of provident fund, gratuity, medical facility, and bonus at festivals. The workers are also given 16 days leaving every year and if they don?t use it they can use it whenever they want. Orpat also provides free medical check up camp to employees after certain period of time.

4) Insurance:
They also provide insurance to the workers. But it is only concerned with those workers only and not for their family.

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5) Bus facility:
The company provides bus facility for up down of their workers, which is very convenient to them.

6) Uniform facility:
Moreover Orpat also provides uniform to the entire worker and their administration staff also. There are different color in uniform in staff members and workers by which we can easily identify.

7) Safety Equipment:
In Orpat they provide different equipments for different departments. E.g. for CFL products they provide goggles. They provide software wings in glass cutting department and plastic mask.

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RESEARCH ON ORPAT ENERGY SAVING LAMP

Research in common parlance refers to a search for knowledge.

In fact,

research is an art of scientific investigation. The Advance Learner?s Dictionary of Current English lays down the meaning of research as “ a careful investigation or inquiry specially through search for new facts in any branch of knowledge”. Some people consider research as a movement, a movement from the known to the unknown.

Research is an academic activity and as such the term should be used in a technical sense. According to Clifforod Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deduction and reaching conclusion; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis.

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OBJECTIVE OF MARKET SURVEY:

A main objective of my study is to understand consumer?s preference and perception about electronic lamp (CFL) and analyses the competition. In

connection to this main objective I undertaken following objectives to meet the main requirement of study.

1. To study marketing strategies of ORPAT. 2. To study brand preference and brand loyalty of consumers. 3. To analyses perception of consumer. 4. To study bargaining power of consumer. 5. To analyses extent of comparison with various brands among various attributes. 6. To study quantity discount effect on stock. 7. To study the extent competition from China?s Electronic Product. 8. To study the differentiation between the product users.

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METHODOLOGY OF MARKET SURVEY:

Type of research:

Applied Research

Sampling Design:

Cluster Sampling and Area Sampling

Data Collection:

Questionnaires Method

Sampling Frame:

Rajkot City

Sampling Area:

Yagnik Road, Kalavad Road, University Road, Dharmendra Road, etc.

Sample Size:

100

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DATA ANALYSIS
Do you use the lamp?
(a) Yes (b) NO

42% 58%

yes no

? 58% consumers use the lamp. ? 42% consumers are not using the lamp.

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Which brand of lamp do you use regularly?
(a) Philips : 37 (c) Bajaj : 21 (b) Orpat(CFL) : 25 (d) Surya : 17

40%
35% 30% 25% 20% 15%
Series1

10%
5% 0% Philips Orpat Bajaj Surya

? 37% are using Philips lamp regularly. ? 25% are using Orpat lamp regularly. ? 21% are using Bajaj lamp regularly. ? 17% are using Surya lamp regularly.

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Are you aware of ORPAT(CFL) brand?
(a) Yes (b) No

13%

Yes No

87%

? 87% consumers are aware of ORPAT (CFL) brand. ? 13% consumer are not aware of ORPAT (CFL) brand.

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From where did you know about ORPAT (CFL) lamp?

(a) Hording: (c) Retailers: (e) Friends:

8 37 20

(b) Television: (d) Magazines: (f) Family members:

12 12 11

11%

8% 12%
Hording television Retailers Magzines

20%

Friends

12%

37%

Family mem

? 8% consumers are known about CFL brand from Hoarding. ? 12% consumers are known about CFL brand from Television. ? 37% consumers are known about CFL brand from Retailers. ? 12% consumers are known about CFL brand from Magazines. ? 20% consumers are known about CFL brand from Friends. ? 11% consumers are known about CFL brand from Family members.

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What makes you purchase ORPAT (CFL) lamp?
(a) Good quality: (c) Availability: 37 11 (b) Less price: (d) Warrantee: 26 26

26% 26% 11%

37%

Good quality Less price Availability Warrantee

? 37% consumer consume this product for good quality ? 26% consumer consume this product for less price ? 11% consumer consume this product for Availability ? 26% consumer consume this product for Warrantee

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What was the satisfaction level after using ORPAT’s (CFL) lamp?
(a) Excellent: (c) Average: 23 24 (b) Good: (d) Poor: 40 13

40% 40% 35% 30% 25% 20% 15% 10% 5% 0%

23%

24% 13%

Excellent Good Average Poor

1

? 23% consumer?s satisfaction level is Excellent. ? 40% consumer?s satisfaction level is Good. ? 24% consumer?s satisfaction level is Average. ? 13% consumer?s satisfaction level is Poor.

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What would you say about the pricing of the ORPAT’s (CFL) lamps?
(a) Very High: 22 (c) Low: 50 (b) High: 28

(d) Very Low: 0

Very High

High

Low

Very low

50% 22% 28% 0% Very High High Low Very low Se rie s1

? 22% consumers said price of CFL lamp is very high. ? 28% consumers said price of CFL lamp is high. ? 50% consumers said price of CFL lamp is high. ? No one consumer said price is very low.

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What makes you satisfied with ORPAT’s (CFL) brand?
(a) Price: 38 (b) Brand: (d) Long life: 36 17

(c) Warrantee: 9

40% 35% 30% 25% 20% 15% 10% 5% 0%

38%

36%

Price

17%
9%

Brand

Warrantee
Long life

1

? 38% consumers are satisfied with price of CFL. ? 36% consumers are satisfied with brand of CFL. ? 9% consumers are satisfied with warrantee of CFL. ? 17% consumers are satisfied with long life of CFL.

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What more you expect from ORPAT’s (CFL) brand?
(a) Less Price: 21 (b) Long life: 36

(c) Long warrantee period: 26 (e) other: 5

(d) Fuel efficiency: 12

40% 35% 30% 25% 20% 15% 21%

36% 26%
Less price Long life Ling warrantee Fuel efficiency other

12% 5%

10%
5% 0% 1

? 21% consumer more expects fewer prices. ? 36% consumer more expects long life. ? 26% consumer more expects long warrantee period. ? 12% consumers expect fuel efficiency.

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HYPOTHESIS – TESTING

After the analysis the data as stated above, the researcher is in a position to test the hypotheses. The hypothesis may be tested through the use of one or more of such tests, depending upon the nature and object of research inquiry. Hypothesis – testing will result in either accepting the hypothesis or in rejecting it. One simple meaning of hypothesis is a mere assumption or some supposition to be proved or disproved.

Hypothesis testing helps to decide on the basis of a sample data, whether a hypothesis about the population is likely to be true or false.

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CHI – SQUARE TEST

Null hypothesis: - Awareness of ORPAT (CFL) lamp is high. Alternative hypothesis: - Awareness of OROAT (CFL) lamp is not high. Awareness of ORPAT (CFL) lamp.

Awareness Business Yes No Total 15 5 20

Group of People
Home 27 3 30 Shop 17 3 20 Office 28 2 30 Total 87 13 100

Awareness: 1) Business: 20*87 100 2) Home: 30*87 100 3) Shop: 20*87 100 4) Office: 30*87 100 = 26.1 = 17.4 = 26.1 = 17.4

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Not Aware: 1) Business: 20*13 100 2) Home: 30*13 100 3) Shop: 20*13 100 4) Office: 30*13 100
2

= 2.6

= 3.9

=2.6

= 3.9

Chi – Square Test = ( Oij – Eij) Eij Observed Groups Frequency Oij Aware
Business Home Shop Office Not Aware Business Home Shop Office Total 5 3 3 2 2.6 3.9 2.6 3.9 2.4 -0.9 0.4 -1.9 2.22 0.21 0.06 0.93 3.927 17 27 17 28 17.4 26.1 17.4 26.1 -2.4 0.9 -0.4 1.9 0.33 .0.03 0.01 0.14
2

Expected Frequency Eij Oij - Eij Eij

(Oij – Eij)

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Chi – Square Value = 3.927

Degree of Freedom = (c-1) (r-1) =3

3 degree of freedom at 5 percent level of significance = 7.815 Chi – Square is less than table value than we accept the Null hypothesis. Than we can say that awareness of ORPAT (CFL) lamp is very high.

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QUESTIONER
Name: _________________________________________

Address: ________________________________________

Phone: (M)_________________

(O)_________________

Do you use the lamp? (a) Yes (b) No

Which brand of lamp do you use regularly? (a) Philips (c) Bajaj (b)Orpat (d) Surya

Are you aware of ORPAT (CFL) brand? (a) Yes (b) No

From where did you come to know about ORPAT (CFL) lamp? (a) Hording (c) Retailers (e) Friends (b) Television (d) Magazines (f) Family members

What makes you purchase ORPAT (CFL) lamp? (a) Good quality (c) Availability (b) Less price (d) Warrantee

What was the satisfaction level after using ORPAT?s (CFL) lamp? (a) Excellent (c) Average (b) Good (d) Poor

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What would you like to say about the pricing of the ORPAT?s (CFL) lamp? (a) Very high (c) Low (b) High (d) Very low

What makes you satisfied with ORPAT?s (CFL) brand? (a) Price (c) Warrantee (b) Brand (d) Long life

What more you expect from ORPAT?s (CFL) brand? (a) Less price (c) Long warrantee (e) Others Give the suggestion about ORPAT?s (CFL) brand. ______________________________________________________________ (b) Lang life (d) Fuel efficiency

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BIBLIOGRAPHY

Marketing management: Marketing Research: Site:

Philip Kotler C.R. Kothari www.orpatgroup.com www.quartz.com www.orpatelectronics.com

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