Market Reseacrh on the Product Line of Jaquar

7/30/2019 Market Reseacrh on the Product Line of Jaquar

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SUBMITTED BY

KUMAR RISHIROLL NO.: 110907003


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Jaquar and Company Pvt. Ltd. : An Introduction


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Jaquar group was built on the platform of highest quality standards,

aesthetics and with the intent of providing world class products. Conceived

way back in 1960 by Mr. N.L. Mehra.

Crossing 1250 crore mark in FY-11-12, Jaquar is truly a global bathsolutions company creating benchmarks in the industry and the most

preferred one stop solutions brand across the globe.

Vision: - Global leader in Complete Bathing Solutions for inspired living. Mission: - Continuously striving to create value and exceeding customers

expectations in quality, delivery and cost effectiveness through continuous

product innovation and cutting edge technologies Values:-

Passion for Technology

Taking care of our people

Excellent customer service

Building strong relationships

Entrepreneurial spiritReliability

Quality Policy50 years of presence and 5 lac happy new customers every year speaks

volumes of Jaquar obsession towards quality.


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Strategic Business VerticalsBathing Solutions

Lighting Solutions

Brands

Artize: Craftsmanship in water.Jaquar: Experience bathingEssco: Superbly Efficient

Products: Arranged under following categories:-FaucetsShowers

SanitarywareWellness ProductsShower EnclosuresWater HeatersFlushing SystemsLighting Products

Green Initiative: Jaquars innovative technology which increasesthe pressure of faucet in a normal water supply & saves water


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MARKET RESEACRHFour Ps of Marketing

Product

PricePlace

Promotion

Market Research Vs Marketing Reseacrh

Marketing Research covers all four of those possible measures to identify and

understand consumer preferences. Where on the other hand, Market Researchtypically covers one of those four measuresplace. Place includes an analysis

of a specific market or segment. Market Researchers argue that what they do

is customer-oriented and the measurement of market demand only

Why Market Research has been done in this project?

Market Research deals with place factor that studies customer and competition

the work undertaken for this project in the company was totally focused on that

part only. As the respondents were contacted at their work sites, offices and

projects the information about the market research aspect were studied in

detail.


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RESEARCH METHODOLOGYResearch Design

The descriptive research design was adopted for this project.

Hypothesis Testing

The Following five hypotheses have been tested based on the data collected:1. Choice of Appliances is independent of different brands available in the market.

H0: Choice of Bathroom appliance is dependent on the brand image

H1: Choice of Bathroom appliance is independent of the brand image

2. Aesthetics of product is given priority over other attributes of kitchen & Bathroom

appliances.

H0: Aesthetic is given preference over other featuresH1: Aesthetic is not given preference over other features

3. Bathrooms are considered important portion of house by the population.

H0: Bathrooms are just a portion of house

H1: Bathrooms are important part of house

4. People are ready to pay more than 150,000/- INR for new bathroom / kitchen

appliances.H0: Consumers are not willing to pay a large sum for bathrooms

H1: Consumers are willing to pay a large sum for bathrooms

5. Brand image of appliance is closely co-related with advertisements effectiveness.

H0: Brand image and Advertisements are having high correlation

H1: Brand image & advertisements are not co-related


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DATA ANALYSISSWOT ANALYSIS

INTERNALSTRENGHTHS WEAKNESSES

1) Jaquar now leads the faucets markets in India

with a market share of 60% by volume.2) Jaguar has been a leader for over ten years and

has maintained its market share despite

competition.3) The company is constructing its fourth plant at

Manesar for 100 crore, to manufacture the new

products.4) Strong distribution channel.

1) Serious quality check is required as the

production volume is increased.2) The after sales service facility is at the moment

restricted to big cities and growing cities and

similar places. This needs to be expanded on an

express manner. Not just state capitals but areas

that may be a potential market in the next 5 years

need to be focussed from now.3) The human resource management should be

expedited so as to match the efficiency of the

international brands.


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EXTERNALOPPURTUNITIES THREATS

1) Jaquar is undergoing a change in its

marketing messages along with a brand

rehaul.2) It is also increasing its focus on theexport market and the institutional segment

(hotels, builders) in India that contributes

35% of its sale.3) Rising domestic demand for sanitary

ware.4) Ability to exploit local expertise in

related sectors, cluster technologies.

1) Increased competition; any and every

brand in the world is now present in India2) Low priced import of identical products

of inferior quality from China.3) Existence of large unorganised sector for

taps and sanitary ware item.4) Large international surplus which are

often dumped in Indian market and eat away

into the market share for luxury items.


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FINDINGS1. Supplier to large sized projects.

2. Builders were fond to e making decisions at site closely followed by end-client.

3. High level of brand consciousness and recognition ofJaquars

advertisements.

4. Majority of returning customers.5. Products satisfaction level are high.

6. Indifference to Jaquars complete product line.

7. Quality of product the biggest factor in purchase decisions.

8. Satisfactory pricing.

9. Quality of Jaquar products are satisfactory but still lot of avenues for

improvement exist.

10.Innovative designs acknowledged in the market.

11.Leader among Indian and foreign brands in many products.


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LIMITATIONSFollowings are the limitations of the project work taken by me:1. One of the limitations of this project study is of the time limitation. Since the duration of

our project study is limited, it is somehow difficult to fully know any big organization likeJaquar in this limited time period.

2. Senior managers and others officers in Jaquar are also very busy. They do not have enough

time for solving our queries in details.3. The geographical stretch of this project is NCR and adjoining territories and so it cant

provide a general picture of consumer behaviour.4. The research is done through respondents who were approached by the company as

prospective clients.5. The accuracy of the response cant be ascertained fully as the respondents were

interviewed between work time so bias and ideas of the time must creep in some ways.6. Many respondents were hesitant to provide accurate information and thus an

approximation has been made.7. The information about competitors is purely secondary and based on wor of mouth and

internet searches.

Documents

Market Reseacrh on the Product Line of Jaquar