Sip Interim Report Rishikant 07BS3437 Small)

8/2/2019 Sip Interim Report Rishikant 07BS3437 Small)

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Summer Internship Program Interim

Report

NAME: RISHIKANT

ENROLLMENT NO.: 07BS3437

ICFAI BUSINESS SCHOOL

HYDERABAD

Understanding The Need Of Audio And

Video Integration In DifferentSegments Of The MarketName of the company: Godrej & Boyce Mfg. Pvt. Ltd., PrimaDivision, Hyderabad


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[Understanding The Need Of Audio And Video Integration In Different Segments Of The Market]

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An Interim Report

ON

Understanding The Need Of Audio AndVideo Integration In Different Segments

Of The Market

ByRishikant (07BS3437)

A Report submitted in partial fulfillment of the requirements ofMBA program of ICFAI Business School, Hyderabad

Submitted To

MR. DINESH WADHVA

Dy. Business Manager, Conferencing Products

MR. NASINA JIGEESHFaculty Guide


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Table of ContentsExecutive Summary .................................................................................................................................... 3

Abstract of the Work Done So Far ................................................................................................................ 5

Step 1: Problem Definition ............................................................................................................................ 5

Management Decision Problem: .............................................................................................................. 5

Marketing Decision Problem: ................................................................................................................... 5

Diagram: The process of Problem definition ............................................................................................ 7

Step 2: Developing an approach to the problem ........................................................................................... 8

Hypothesis................................................................................................................................................. 8

Step 3: Research Design Formulation........................................................................................................... 9

Diagram: The Flow of the work to be done for the project .................................................................... 11

Step 4: Exploratory Research ...................................................................................................................... 13

Questionnaire For The Companies In The Same Business ...................................................................... 13

Findings: .................................................................................................................................................. 14

Step 5: Descriptive Research....................................................................................................................... 15

Questionnaires: ....................................................................................................................................... 15

Problems faced during primary data collection: ..................................................................................... 20

Step 6: Visiting various websites ................................................................................................................ 21

References: .................................................................................................................................................. 22

Annexure 1: The list of the competitor companies: ................................................................................... 23
http://sip%20interim%20report%20rishikant%2007bs3437%209912360964.doc/#_Toc196896005http://sip%20interim%20report%20rishikant%2007bs3437%209912360964.doc/#_Toc196896005


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Executive Summary

The world has become a global village. The market is growing at an electrifying pace and the

competition is also growing in perfect correlation with it.

Welcome to the modern business environment. Dynamic, deep-seated forces are shifting

outlooks, shaping expectations and driving opportunities across the consumer landscape, in every

corner of the globe. Companies are not restricted by boundaries of countries in todays world.

Technology is the main driving factor behind the emergence of such a closely knit business

world. The need for faster communication and decision making is gaining immense importance.

As a result of this, meetings, conferences, seminars and presentations play one of the most

important roles in achieving organizational goals. The top level management of all the

organizations designs the future strategies and takes many important decisions in boardrooms.

Organizations use the technologically advanced meeting environments like conference halls in

many ways to impress their clients and Display Companys reputation. The Technology also

enables them to address their employees and train them in a better manner.

The demand for such meeting halls in large organizations was recognized by Godrej & Boyce

Mfg. Ltd., Prima Division and it came up with a bouquet of international conferencing solutions

with professional consultancy and design by highly trained employees for boardrooms,

conference rooms, auditoriums and training halls. Being one of the first professional companies

in this business they soon achieved 70% of the market pie. As seen in any other promising

ventures, with the passage of time more and more players tend to pour in to make the most of the

existing opportunity. Similarly in this case also the story changed slowly with time. Many small

players have cropped up in cities like Hyderabad and they have started providing almost the

same array of products. Therefore it is making the market more congested. In the given scenarioall the market leader has to do is continuous innovation. As a market leader its time for Godrej

to see this threat and continuously innovate in order to maintain its leadership and capture more

market share.


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This is the problem that was identified by Godrej and therefore forms the outline of my project.

The project focuses at understanding the existing forces that determine the purchasing of such a

solution. It is intended to reach at a certain number of factors that are the main deciding factors

that are taken under consideration while purchasing integration products. The project also aims at

segmenting the market and understanding the individual needs of each market segment. This

kind of exercise will not only help the company in focusing its marketing activity to the right

kind of business enterprises but will also help in designing right mix of products to cater to the

needs of its customers in the best way possible. It is always wise to keep a track of what the

competitor proposes to do in future as it alarms the market leader to be geared for the future. So,

this study will help in gaining an insight into the innovations that are being done by other

companies in the same kind of business. It is also aims to study the level of satisfaction among

the existing customers of the company and gather their feedback to see what more the clients

expect in terms of products, consultancy, return on investment and innovation. And last but not

the least in order to make the summer internship program more fruitful in terms of academic

learning, a complete analysis of the functioning of the integration business will be done along

with the organizational structure and other minor details.


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Abstract of the Work Done So Far

The main aim of the summer internship program is not only to learn how things are made to

happen in the tough business world but also to see how the theories learnt so far are applicable in

practicality. The abstract of the work that I have done so far is explained below.

Step 1: Problem Definition

After joining the company on 22nd Feb, 2008, problem definition was the most important task

undertaken as it was going to determine the future course of action. The right understanding ofthe problem was as important as the entire project itself. The project guide Mr. Dinesh Wadhva

was a big help to me in determining this step. He not only explained the in and out of the

business but also the problems that the sales team had been facing so far. Besides that I also

visited various internet sites to gain an insight about the problem that the company might be

facing.

After having a detailed conversation for several days following problems were identified.

Management Decision Problem:

a. How to maintain the leadership in the market that is becoming congested by smallplayers?

b. How to capture new market segments and what are the needs and expectations ofthese segments?

c. What can be done towards customer satisfaction and customer loyalty?

Marketing Decision Problem:

a. What are the different segments of the market and what are their needs? b. What are the factors that determine the purchasing of integration products?c. What is the typical buying behavior of the companies with respect to integration

products?


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d. What are the innovations going around in the market and how the competitorcompanies are working to get an edge over Godrej & Boyce, Prima?

e. What is being done across the world to be more innovative? f. What are the main reasons due to which the companies defer their purchasing

decision for integration products?

g. In a market where almost all the companies are offering same products what morecan be done to maintain the status of market leader?

h. How satisfied are the existing customers? Are we able to cater to their needs inthe right way?

i. What do the existing customers feel about the overall product? j. Is there a need for analyzing the existing communication strategy of the

company?

The problem definition stage helped me clearly understand the expectation of the company from

the project and the direction in which one needs to move to achieve those expectations.


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Diagram: The process of Problem definition

Task involved

Discussion with

Mr. Dinesh Wadhva

Discussion with Mr.

Amitabh (Asst. Business

Manager)

Reading literature on

the internet and

visiting competitors

websites

Understanding the context of the problem

Step 1: Problem Definition

Management Decision Problems Marketing Decision Problems


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Step 2: Developing an approach to the problem

Once the problems faced by the company were identified the next step included the development

of the approach to the problem, i.e. defining the research problems and presenting them in a form

which may be helpful in the process of market research. In this step proper hypothesis was set up

which is nothing but an unproven statement or proposition about a factor of phenomenon that is

of interest to the researcher.

Hypothesis

On the basis of the analysis so far the following hypothesis were set up:

1. H1: The variables that determine the purchase of the audio and video integrationproducts cant be distinctly segregated in different sets of non overlapping factors.

H01: The variables that determine the purchase of the audio and video integration

products can be distinctly segregated in different sets of non overlapping factors.

2. H2:The market cant be segmented in distinct groups based on the type of business andneeds with respect to the integration products.

H02: The market can be segmented in distinct groups based on the type of business and

needs with respect to the integration products.


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Step 3: Research Design Formulation

Market research involves lot of effort and time, so it is always best to be very clear as to what

has to be done and how it has to be done and this was decided in the third step of the project.

From the understanding of the project I decided to go for an exploratory research first to get a

better idea of the market. And then go for the main descriptive research. In this step following

decisions were taken:

1. The first step towards the research will begin with an exploratory research. In thisresearch different competitors across India will be contacted over the phone and will be

asked few questions from a pre-designed questionnaire. This step will give us some idea

about our competitors and how they are seeing the market. This will also help us to

understand what are the different innovations that are going on to attract more customers.

2. Then the next step would be to analyze the outcome of the research.3. Based on the outcome, proper schedule will be designed for the project which will have

provision for all the activities that are required to be undertaken.

4. Throughout the project internet will be used a lot to read about the different companies inthe same business both in India and abroad. And any special features thus noticed will be

documented.

5. Then the descriptive research part will follow in which the questionnaire will be designeddirectly on the laptop, both in word as well as in excel format so that responses can be

directly stored in softcopies. This strategy will not only save paper and make the project

environment friendly but also save us from the extra effort of entering the data on the

laptop after collecting it.

6. And then a database of the companies, which will be visited for the responses, will becollected.

7.

Then the actual primary data collection step will take place in which companies from thedata base will be visited and then the responses will be collected from people responsible

for such kind of decision making.

8. An online survey for the same questionnaire will also be conducted side-by-side. Theonline survey questionnaire will be mailed to the different companies.


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9. A sample size of 80 will be taken under consideration. The reason behind this is thatsince the integration products are expensive hence only companies with high turnover can

afford it. So, 80 companies with a turnover of more than 20 crores will be visited.

10.Once the survey is done, then the responses will be checked for any incomplete ones andtheyll be discarded.

11.Then the collected data will be analyzed using SPSS and tools like Factor analysis(to clubtogether different variables affecting purchasing of the integration products in distinct

factors) and cluster analysis(to segment the respondents into distinct groups based on

their needs from the audio/ video integration products and the kind of business they are

involved in).

12.This analysis will be documented.13.Then the third market research will be undertaken. In this part one more questionnaire

will be designed to analyze the satisfaction level of the existing customers of Godrej &

Boyce, Primas integration products.

14.The outcomes from the third market research will also be analyzed and documented.15.The entire project will be reviewed once and then the final report will be prepared.

The Timeline decided for the project:

26th Feb29th Feb: Identification of the problem and defining it properly. 1st March3rd March: Research Designing. 3rd March6th March: Questionnaire Designing. 7th March10th March: Secondary Data Collection. 11th March13th March: Secondary Data Analysis. 14th March27th April: Primary Data Collection. 27th April30th April: Primary Data Analysis. 31st April7th May: Customer Satisfaction survey 7th May10th May: Customer Satisfaction survey analysis. 11th May15th May: Review of the project. 16th May22th May: Final Report preparation. 24th MayFinal report submission.


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Diagram: The Flow of the work to be done for the project


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Step 4: Exploratory Research

The primary objective of exploratory research is to provide an insight and an understanding into

the details of the problem. For this a database of companies in the same business across India

was collected. Fifteen companies were found to be major players across India. The list of the

companies can be found in Annexure 1. The following questionnaire was designed:

Questionnaire For The Companies In The Same

BusinessA) What are the various applications that you undertake for audio/video integration?B) What are the various steps that you take up for the proper implementation?C) What are the products that you provide when it comes to audio/ video integration?D) Which are the major companies, products of which, you offer to your customers?(from

internet)

E) What type of companies are your major clients?F) Can you please give me names of few of your clients?G) What type of setup do you have to provide after sales service to your customers?H) What is the approx timeline which you take to complete integration?I) Do you use interior designers to design the interior of the room?J) Are you flexible when the customer asks for some specific product that your company

doesnt offer? How do you satisfy the specific needs?

K) How do you differentiate integration provided by your company as compared to othercompanies in the same business?

L) Have you ever come across any specific demand of the customer that you couldnt fulfillor faced lot of difficulty in fulfilling?

M) In a nutshell what do you think is the need of the customer and what kind of marketsexists?


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Findings:

Various findings were made from this exercise.

1. One of the companies is also entering in the audio and video integration of homes.2.

One of the companies claimed that there focus is pitching in products which havewireless connectivity.

3. Almost all the companies are providing same products.4. All of them are flexible in terms of price negotiation and providing products on specific

demands.

5. Three companies claimed that the timeline for the project completion is less than 3months.

6. All the companies provide after sales service and they have dedicated team of technicalprofessionals for this.

7. All the companies claimed that providing best products at cheapest cost is there mainfocus.

8. All the companies think that there is a huge market potential but some problem is createddue to small dealers which sell these products at the same time also undertake projects,

although they are not professional enough for such jobs.


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Step 5: Descriptive Research

This was the next step that was undertaken. In this step first of all the questionnaire was designed

to collect the responses of the companies regarding the audio and video integration products. The

questionnaire was designed in three formats.

1) Word Format

2) Excel Sheet Format

3) Online

It was intended from the beginning to make this project an environment friendly project and use

as few papers as possible. Since a laptop has been provided by the college, it can be taken to the

companies from which the responses have to be collected and the responses can directly be

entered into the excel template created earlier.

Another form which is used is the online survey form. There are many websites which allow

creating questionnaires online. Then they provide link to that questionnaire which can be mailed

to the respondents. In todays world one cant imagine any business house not checking e -mail

ids. Hence this opportunity has been used and several responses have been collected through this

method.

The questionnaires designed as shown below:

Questionnaires:


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Online Survey Questionnaire Link:

http://FreeOnlineSurveys.com/rendersurvey.asp?sid=p9jom4cl6rouxa1417370


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As of now completed responses from 67 companies have been collected, 13 more are expected to

be collected soon.

Once the required number of primary data is collected, the next step will be taken up and again a

questionnaire for studying the customer satisfaction will be done. And then rest of the steps will

be done as explained in the step 3.

Problems faced during primary data collection:

1. Many big companies do not respond to such market research.2. Many companies said that the decisions regarding these issues are taken by their head

offices which are located in some other city.

3. The constraints of funds restricted visits to many areas where going by bus was notpossible.

4. Many companies do not wish to give out information which leads to incompleteresponses, which have to be discarded for the final analysis.

5. Many people dont take online survey too seriously and submit incomplete responses.6. Individual responses have to be downloaded from the online survey providing site and

analyzed to get them in the format in which manual survey responses are. These sites do

not provide exact responses instead they show it in some predetermined manner. Under

the paid services of the website one can download the exact responses in excel format.


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Step 6: Visiting various websites

Many websites have been visited so far and few of the notable things are mentioned below:

1. The webpage of Godrej & Boyce Prima division has a link for its integrated solution(http://www.godrej.com/GodrejNew/GodrejHome/OurCompanies/GNB/ConsumerProdu

cts/ConferencingSolutions/IntegratedSolutions/) but words that are frequently related to

this product are not mentioned on the page. Some of the other websites use more popular

words like boardroom integration, audio and video integration etc. makes them more

visible on the internet. Even the search engines like Google do not show godrej on the

first few pages of the search result for audio and video integration. Even popular

indexing pages like yahoo>b2b>video conferencing do not show Godrejs name in the

list of some 30 companies.

2. AVI-Spl, a US based company has a unique need analysis questionnaire on theirwebsite(http://www.splis.com/avdesign-integration/avdesign-analysis.asp) which may

provide a new way to reach out to the prospective customers.

3. The website of Neutron Electronic Systems Pvt. Ltd., Mumbai tells that they alsoundertake integration projects for Telepresence. Telepresence is the relatively new

phenomenon of video communications that envelops the participants in a luxurious,

comfortable meeting environment where the technology is transparent and the high

definition video clarity is so sharp that the far end participants appear to be just across the

table, even though they may be physically present across the world.
http://www.godrej.com/GodrejNew/GodrejHome/OurCompanies/GNB/ConsumerProducts/ConferencingSolutions/IntegratedSolutions/http://www.godrej.com/GodrejNew/GodrejHome/OurCompanies/GNB/ConsumerProducts/ConferencingSolutions/IntegratedSolutions/http://www.godrej.com/GodrejNew/GodrejHome/OurCompanies/GNB/ConsumerProducts/ConferencingSolutions/IntegratedSolutions/http://www.godrej.com/GodrejNew/GodrejHome/OurCompanies/GNB/ConsumerProducts/ConferencingSolutions/IntegratedSolutions/http://www.godrej.com/GodrejNew/GodrejHome/OurCompanies/GNB/ConsumerProducts/ConferencingSolutions/IntegratedSolutions/http://www.godrej.com/GodrejNew/GodrejHome/OurCompanies/GNB/ConsumerProducts/ConferencingSolutions/IntegratedSolutions/


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References:

www.godrej.com/prima/ www.neutron.in/product/details.asp?cat_id=3 www.pinnacleinfo.net/ www.specialfx.in/institutional.html Business Marketing and PlanningSubhash C Jain. Questionnaire DesignIan Brace. Business to Business Market ResearchRuth McNeil. 22-Immutable Laws of MarketingAl Ries & Jack Trout. http://FreeOnlineSurveys.com/rendersurvey.asp?sid=dju99zck53uv91f411503

Faculty Guide Name: Dr. Nasina Jigeesh

Company Guide Name: Mr. Dinesh Wadhva

Date: April 25, 2008 Rishikant


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Annexure 1: The list of the competitor companies:

1. Prime InfoTech, New Delhi.2. Pinnacle Info Vision Pvt. Ltd., Mumbai.3. Affix Techno, Mumbai.4. Special FX.5. Young India Films, Mumbai.6. D- Ram Enterprises, Mumbai.7. Puthur Info Tech, Bangalore.8. Neutron Electronic Systems Pvt. Ltd., Mumbai.9. Unicom Info Tel Pvt. Ltd., Secunderabad.10. Avaya Global Connect, Hyderabad.11.Genesis IT Innovations, Hyderabad.12.E-Tech Solutions, New Delhi.13.Trustron, New Delhi.14.Total ACS, Bangalore.15.Globus Infocom Ltd, Noida.


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Documents

Sip Interim Report Rishikant 07BS3437 Small)