Consumer Behaviour Towards Masala in Varachha Area in Surat
In:
Submitted By rahulpaghdal Words 19914 Pages 80
A Summer Project Report ON
CONSUMER BEHAVIOUR TOWARDS MASALA IN VARACHHA AREA IN SURAT
AT
“DHANHAR EXIM PVT.LTD.”
Submitted to
R.B.Institute of Management Studies IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION
In
Gujarat Technological University
UNDER THE GUIDANCE OF Faculty Guide Prof. Pratima Shukla Company Guide Mr. Hitesh Vankawala
Submitted by Rahul Paghdal Enrollment No.: 117460592036 Mehul Valangar Enrollment No.:117460592024 [Batch: 2011-13] MBA SEMESTER II
R.B.Institute of Management Studies MBA PROGRAMME
Affiliated to Gujarat Technological University Ahmedabad
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STUDENTS‟ DECLARATION
We are (Rahul Paghdal & Mehul Valengar), hereby declare that the report for Summer Project entitled “CONSUMER BEHAVIOUR TOWARDS MASALA IN ARACHHA AREA IN SURAT” is a result of our own work and our indebtedness to other work publications, references, if any, have been duly acknowledged.
Place:
(Signature)
Date:
Rahul Paghdal Mehul Valengar
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INSTITUTE‟S CERTIFICATE
Certified that this Summer Project Report Titled “CONSUMER BEHAVIOUR TOWARDS MASALA IN VARACHHA AREA IN SURAT” is the bonafide work of Mr. Rahul Paghdal (Enrollment No.117460592036) and Mr. Mehul Valengar (Enrollment No117460592024), who carried out the research under my supervision. I also certify further, that to the best of my knowledge the work reported herein does not form part of any other project report or dissertation on the basis of which a degree or award was conferred on an earlier occasion on this or any other candidate.
Prof. Pratima Shukla
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PREFACE
A practical study is an important part of M.B.A. programme. It gives us an opportunity to relate theoretical knowledge with real corporate situation. It also helps to improve our analytical skills, communication skill and knowledge. The management programme and our institute „RBIMS‟ provide real opportunity to apply theoretical knowledge in practical field. Industrial training is the main part for the management student. It gives a practical knowledge to the students who have to overcome the problems and challenges in future. The training gives an outlook to the students about the Do‟s and Don‟ts of the industry. It makes us feel as we are the part of the industry. I had a great experience. Through this report, I summarize that I have strived to present myself in best possible manner to ethically and systematically. I would be thankful for the feedback that can improve the project in all possible ways. To understand the market of FMCG and get knowledge of this field I took my training in “DHANHAR EXIM PVT.LTD” and prepared the Research report on CONSUMER BEHAVIOUR TOWARDS MASALA IN VARACHHA AREA IN SURAT. In this project report I have tried my level best to display genuine information about the company, which I visited.
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ACKNOWLEDGEMENT
The satisfaction and euphoria that accompany the successful completion of any task would be incomplete without the mention of the Leaders, whose constant guidance and encouragement crown all the efforts with success. W e are highly obliged to the Gujarat Technological University for arranging the programme of practical training in Business Administration in such a manner. W e would like to extend our gratitude to all the staff and especially to Mr. Hitesh Vankawala of “Dhanhar Masala Exim Pvt Ltd”, who provided us useful information and data regarding the subject with their cent percent participation and supported in making this report a successful task. It was a memorable experience to work with them and complete our summer training. It is our privilege to express our deep sense of gratitude to Ms. Pratima Shukla for her efforts, guidance, valuable comments and suggestions for making this report. She helped us to complete our report on the practical study and gave contribution to improve and expand our practical knowledge. Finally, we express our intense gratitude to our parents whose blessings has helped us to translate our efforts into fruitful achievement. Master of
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EXECUTIVE SUMMARY
As it was needed by the Gujarat Technological University to do a summer project for the partial completion of the MBA programme, we were looking for doing it in the Spices Industry. Getting an opportunity at the Dhanhar Exim PVT Ltd., Surat was the best we could get. There under the supervision of Ms. Pratima Shukla. we were asked to prepare a proposal on what we wanted to do in our project. After having discussed with him, we decided on conducting a survey on the Consumer behaviors towards Masala in varachha area in Surat. There were many types of experiences that we faced for the first time in my life. Bad or good, we were ready for any type of response. Many people found it waste of time to fill up a useless piece of paper, as it was for just a project purpose. With the objective of finding the Consumer behaviors towards Masala in varachha area in Surat we surveyed 100 respondents in varachha areas of Surat. We also study about four major functional areas of Dhanhar Exim Pvt Ltd and at the end of the research study we concluded that in varachha area most of the people are using Dhanhar Masala.
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TABLE OF CONTENT
SR. NO
1 2 3 4 5 6 7 8 9 10 11 12
TOPIC
Company certificates Students Declarations Institutes certificates Preface Acknowledgement Executive Summary Table of Content List of Tables List of Graphs PART 1 Industry Profile Company Profile Functional Department A) Human Resources Department B) Production Department C) Marketing Department D) Finance Department SWOT Analysis PEST Analysis Porters Five Force Model BCG Matrix PART 2 Introduction Literature Review Objective of study Hypothesis Research Methodology Data Analysis and Interpretation Findings Suggestions Limitations Learning Conclusions References Annexure
PAGE NO
I. II. III. IV. V. VI. VII. VIII. IX. 1 6 11 20 36 45 62 63 65 70 72 73 75 76 77 83 101 102 103 104 105 106 107
PARTICULARS
World Spice Production Workers Salary Product Profile Product Range Material Required Planning Price List Trading Account Profit & Loss Account Balance Sheet Liquidity Ratio Profitability ratio Efficiency Ratio BCG Matrix Cook Regularly Use Masala in cooking Branded or local Masala Awareness about Spices Company Rank preference of brand Rank According to Quality Good packing Quality Color of Spices like the most Quickly available spices in market According to quality & Image price of spice Home delivery Activity that increase the purchase Rank spices company on the basis of brand Advertisement of spices company like the most The image of brand in your mind Chi Square Tests
PARTICULARS
Organization chart HRP Factor Recruitment Process Selection Process Masala Process Dispatching Distribution Network Source of Working Capital Cook Regularly Use Masala in cooking Branded or local Masala Awareness about Spices Company Rank preference of brand Rank According to Quality Good packing Quality Color of Spices like the most Quickly available spices in market According to quality & Image price of spice Home delivery Activity that increase the purchase Rank spices company on the basis of brand Advertisement of spices company like the most The image of brand in your mind
From time immemorial, India has been considered as the "Spice Bowl of the World". The history of Indian spices is almost as old as the 'Human civilization of Spices '. Conquering tribes from Assyrians and Babylonians, Arabians, Romans, Egyptians, the Chinese to the British and the Portuguese all invaded India with one goal - to take advantage of the rich, natural wealth and for Indian spices. The earliest written record in India on Spices is the venerable Vedas - such as the Rig Veda, and the others Yajur Veda, Samaand Atharva. During the Vedic period, information was primarily was handed down orally from generation to generations through the medium of hymns. The Rig Veda contains references to various spices such as horseradish - a close relation of Mustard and Turnip. There are also references to Black Pepper in the Yajur Veda. These are but few of the spices in the natural expanse of the subcontinent - in the mountain, swamps, riverines, tropical rain forests, wetlands, marshy woodlands, rich valleys, green fields in a pollution-free, & eco-friendly environment. The history of Indian spices lies in the abundance & goodness that Mother Nature has blessed it with and made it so popular worldwide A spice is a dried seed, fruit, root, bark or vegetative substance used in nutritionally insignificant quantities as a food additive for the purpose of flavoring, and sometimes as a preservative by killing or preventing the growth of harmful bacteria. Many of these substances are also used for other purposes, such as medicine, religious rituals, cosmetics, perfumery or eating as vegetables For example, turmeric is also used as a preservative; licorice as a medicine; garlic as a vegetable. In some cases they are referred to by different terms. The fame of Indian spices is older than the recorded history. The story of Indian Spices is more than 7000 years old. Centuries before Greece and Rome had been discovered, sailing ships were carrying Indian spices, perfumes and textiles to Mesopotamia, Arabia and Egypt. It was the lure of these that brought many seafarers to the shores of India.
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Long before Christian era, the Greek merchants thronged the markets of South India, buying many expensive items amongst which spices were one. Epicurean Rome was spending a fortune on Indian spices, silks, brocades, Dhaka Muslin and cloth of gold, etc. It is believed that the Parthian wars were being fought by Rome largely to keep open the trade route to India. Today when spices cost so little, it seems unbelievable that they were once a royal luxury and that man were willing to risk their lives in quest of them. Though it was the Dark Ages, but there were rich people who had gold to exchange for pepper and cinnamon. It was in the year 1492 A.D., that Christopher Columbus discovered the New World. Five years later, four tiny ships sailed southward from the port of Lisbon, Portugal, under the guidance of Captain Vasco Da Gama. Like Columbus, Vasco Da Gama too was searching for a new route to the spice lands of Asia. While Columbus failed to achieve the goal, Da Gama succeeded. In a two year, 24,000 miles round trip, he took his ships around the continent of Africa to India and back to Lisbon.
The spices of the East were valuable in those times, during these Middle Ages, a pound of ginger was worth a sheep, a pound of mace worth three sheeps or half a cow. Pepper, the most valuable spice of all, was counted out in individual peppercorns, and a sack of pepper was said to be worth a man`s life. Da Gama`s successful voyage intensified an international power struggle for control over the spice trade. For three centuries afterwards the nations of Western Europe - Portugal, Spain, France, Holland, and Great Britain - fought bloody sea-wars over the spice-producing colonies.
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The people of those times used spices, as we do today, to enhance or vary the flavors of their foods. Spices were also flavor disguisers, masking the taste of the otherwise tasteless food that was nutritious, but if unspiced, had to be thrown away. Some spices were also used for preserving food like meat for a year or more without refrigeration. In the sixteenth century, cloves were used to preserve food without refrigeration. Cloves contain a chemical called eugenol that inhibits the growth of bacteria. It is still used to preserve some modern foods like Virginia ham. Later, mustard and ground mustard were also found to have preservative qualities. When spices were not available people went hungry because they could not preserve their foods to carry them over to the winter.
Broadly, there are two main subdivisions of spices one being the major spices and the other is minor spices. For example the spices like pepper, cardamom, ginger, turmeric, chilies etc., comes under major category. The important minor spices grown in India are ajowan, aniseed, caraway, celery, coriander, cumin, dill seed, fennel, fenugreek, garlic, onion, saffron, vanilla etc.
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INDIAN INDUSTRY OVERVIEW
India has traditionally been known for its spice and culinary herb production. It is one of the largest spice producing and consuming country. Its strategic location, climatic conditions, advanced production processes and availability of cheap labor makes it advantageous for the producers to ensure large scale production of quality spices and herbs.
INDIA'S SHARE IN THE GLOBAL SPICE MARKET
The Indian spice industry is booming with a substantial increase in exports over the past few years. India accounts for nearly 45% and 30% in terms of volume and value in the world spice trade.
The booming global spice market also poses good opportunities for the Indian spice industry to provide quality spices at competitive prices. India faces stiff competition from China, Malaysia and Pakistan in terms of pricing of the products. Manufacturers should therefore ensure consistency in supply, product quality, pricing and marketing strategy to increase the share in exports.
Producers are incorporating latest methods and technologies to ensure higher quality of spices and herbs. India is one of the prime exporters of pepper, chilies, turmeric, seed spices and spice derivatives to the rest of the world. USA, EU, Japan and Srilanka import these Indian spices in large volumes.
INDIA'S SHARE IN GLOBAL SPICE DERIVATIVE MARKET
Spice derivatives can be categorized into spice oil, oleoresins and essential oils. The demand for spice derivatives is also increasing due to the hygiene, standardization and consistency factor. India contributes nearly 70% to the world spice derivative market. It exports largely to the US, EU etc. Indian southern states including Kerala, Karnataka and Tamil Nadu provide
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concentrated oils and oleoresins for use in perfumery, pharmaceuticals, foods processing and industrial chemical industry. Government Initiative Indian Government is providing financial assistance to farmers, growers and spice producers and has also taken certain steps to ensure the availability of better quality spices, more hygienically processed spices in order to boost exports. Indian spice board also provides financial and technical assistance to farmers.
The table below shows total global spice production in 2004 (Food and Agriculture Organization of the United Nations statistics)
World Spice Production in tons, 2003–2004, data from FAOSTAT India China Bangladesh Pakistan Turkey Nepal Other countries Total
(Table No. - 1.1)
GROWTH RATE
SPICES exports rose 18 per cent in 2007-08 to a record $491 million as almost all commodities registered healthy growth during the year, the Spices Board has said. Volume grew 32 per cent during the fiscal to 3.35 lakh tonnes (lt), surpassing the previous highest of 2.64 lt in 2006-07. In rupee terms, exports increased by 15 per cent to Rs 2,200 crore. Spices exports will cross US$ 1 billion in the current financial year and touch US$ 10 billion by 2017, according to V J Kurien, chairman, Spices Board. Of the world's total annual spice trade of 850,000 tonnes, India accounts for 44 per cent in quantity and 36 per cent in value
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CHAPTER 2 COMPANY PROFILE
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INTRODUCTION TO DHANHAR EXIM PVT LTD
DHANHAR EXIM PVT.LTD. Surat (Gujarat) based business entity, firmly believes in “Success is a journey, not a destination”. Dhanhar Masala Bhandar introduces itself as a leading manufacturer and exporter of Indian spices particularly Masala, hinges and others. Established on 1968, the company has always followed the philosophy of providing quality products and services to our ever-increasing clientele. Today Dhanhar has become a name synonymous to Indian spices, its taste and aroma; and has become a name of repute in spices and Hing industry. The company is engaged in the manufacturing and supplying of Indian Spices like Hing Powder, Chili Powder, Turmeric Powder, Garam Masala Powder, Chhole Chana Masala, Pav Bhaji Masala, Panipuri Masala, Fish Masala and many more. In Addition to this, we have ascertained strong foothold in the regions of India by catering quality products and prompt services. Adopting ethical business practices, the company has carved a niche as one of the trusted Indian Spices Manufacturers & Suppliers, based in India. We have also raised the bar of customers‟ satisfaction by catering to their exact expectations. Last but not the least, we are making diligent efforts to establish and maintain long-term relationship with our esteemed clients. We have been able to successfully serve our huge clientele because of
Vast Experience with in-depth knowledge of client needs Wide Range of quality Masala powders Great Taste without any compromise on quality Hygienic Processing and Tamper Proof Packing Quality products and prompt services Bulk production of various Masala powders Original and natural ingredients used Delivering products with zero damage
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PROFILE OF DHANHAR EXIM PVT LTD
DHANHAR EXIM PVT LTD is ushering onto the path of consistent growth since its inception in the year 1966, under the proficient headship of the honorable CEO Mr. Hiteshbhai Wankawala. The profound knowledge and rich experience of the CEO has assisted the company to acquire distinguished position amidst the leading market players dealing in Indian Spices. Infrastructure Our state-of-the-art infrastructure is backed with technologically advanced tools and machineries that assist in the quality and quantity production of Indian Spices. The Robust infrastructural base has played a vital role in strengthening the market position of the company.
Quality Assurance Owing to the priority to serve quality products, various stringent quality tests are conducted under the supervision of our quality control executives. For fuller assurance of the quality, the spices are checked on various quality parameters, at various levels starting from the initial stage of processing to the final stage of packaging. The quality checks have made us confident about the delivery of products with zero impurities.
Packaging Facility We have huge and spacious Packaging Unit that is loaded with sophisticated facilities assisting in providing conventional packaging to the spices. The packaging unit has also made us capable of delivering products safe & sound with zero damage during transit.
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ADDRESS OF THE COMPANY
“DHANHAR HOUSE” BHAJIWALI POLE, BHAGAL, SURAT WEBSITE: www.dhanharmasala.com EMAIL: dhanhar@gmail.com hiteswankawala@yahoo.co.in jdwankawala@gmail.com
BRANCHES ADDRESS
1) Bhajiwali pole, bhagal, surat 2) Ashvanikumar, phoolpada, surat
VISION OF THE COMPANY
We will become one of the leading make a Masala manufacturers of the Gujarat. 1) Efficient Production 2) Efficient Quality 3) Efficient Diversification 4) Efficient Expansion
MISSION OF THE COMPANY
To establish a strong market presence in the Gujarat market, to make reputation in market and create a new branch and provide to product of customer. To establish Dhanhar Masala Bhandar, Is excellent business organization comparable to the best in the Aachar and Masala business
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ANNUAL OBJECTIVE
To ensure the quality of the products To establish good industrial relation with customers and get a quick responsible feedback from customers. To motivate employees in the right way and provide training and development programmed. To provide harmony and safe working condition to employees. To maximum use of appropriate technology and information. To establish reliable contact with customers. To making good quality & sell them in the market.
HISTORY OF THE COMPANY
In 1968, two dynamic entrepreneurs, Mr. Dhansukhbhai Chhabildas Vankawala and Mr. Jagdishchandra Harkishandas Vankawala; pioneers in spices / Hing industry and connoisseurs of Indian tastes, joined hands together to start Dhanhar Masala; supported by Mr. Bipinchand Chhabilbhai Vankawala; a mechanical engineer by profession. The firm started as a gruhudyog, manufacturing Hing, graduated in terms of size and volume; obviously due to healthy response from the market. In 1972, a manufacturing plant was established in Surat. The company started manufacturing spices in 1976 with a single product "Dal Shak Masala" and has consistently climbed up the growth ladder since. The company at present is manufacturing more than 30 different spices. For bulk orders, we can customize the products according to your requirements. In 1990; a major milestone was achieved when the company got "AGMARK" certification for its Hing. In 1995, same certification was accorded to Spices. Under the able guidance of the promoters, the company has reached to a position, par excellence. Mr. Hitesh Vankawala (B.Com. L.L.B.) And Mr. Jignesh Vankawala (B.Com.), able sons of Mr. Dhansukhbhai joined business in 1992 and 1998 respectively. Also, the able sons of Mr.Jagdishchandra, Mr. Sandip Vankawala (B.Com.) and Mr. Nilesh Vankawala (B.Com.) joined the
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company in 1992 and 1998 respectively. Mr. Hitesh and Mr. Sandip are looking after Sales Department whereas Mr. Jignesh and Mr. Nilesh are looking after Production and Quality Control Departments. The new entrants are following their fathers' footsteps and have the enough dynamism and acumen to lead the company to new heights. The company boasts of modern machinery and high technology to attain the quality without losing the traditional aroma of Indian spices. Our products are well known for their high purity. The reliability, flexibility, competitive pricing and prompt service have been the pillars of the company's reputation and success.
ACHIVEMENT
The Award is achieved by the company: 1) UDHYOG- 2000 2) VYAPAR-2002 3) UDHYOG-2003 Grahaksurakshasamiti certificate Company has created the image of the best supplier of the Masala in the market. The company have known for its "chip rate and best quality
Name of CEO Year of Establishment Nature of Business Market Covered
HUMAN RESOURCES PLANNING
HRP is the process of forecasting a firm‟s future demand for, and supply of, the right type of people in the right number in company. Company’s planning process is as follows: HRP essentially involves forecasting personnel need , assessing personnel, supply personnel related and matching demand supply factor is through
programming
the planning process
influence by
overall organizational objectives and the environment.
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Factors affecting HRP of the Company:
HRP
Time horizon Org. growth, cycle &Planning Environmntal uncertainty Out sourcing Nature of job being field Type and quality of org.
(Figure No. – A2)
Importance of HRP of company’s point of view is as follows: a) Future Personnel need. b) Part of strategic Planning. c) Creating highly talented Personnel. d) International Strategy. e) Foundation for Personnel Function. f) Incising Investment in human recourse. g) Resistance to change and move.
RECUITMENT & SELECTION
The company‟s process of RECRUITMENT is as follows:
Selection process of Dhanhar Masala is as under:
EXTERNAL ENVIORNMENT
INTERNAL ENVIORNMENT
PRELIMINARY INTERVIEW
SELECTION TEST
EMPLOYEEMENT INTERVIEW
BACKGROUND ANALYSIS
SELECTION DECISION
PHYSICAL EXAMINATION
JOB OFFER
EMPLOYEEMENT CONTACT
EVALUATION (Figure No. – A4)
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INDUCTION
Induction or orientation program is head in the DHANHAR MASALA whenever new employee has to undergo 2 to 3 days induction training. In case of worker joining the company, supervisor undertakes 3 to 4 days induction training. Worker is given guidelines about the company rules and regulation and also he is given training about how to operate the machine. Induction or orientation program, at officer level, is undertaken by the manager of concerned department. Manager gives guidelines about the policies of company and manager introduces employee to training to their subordinate.
PROMOTION AND TRANSFER
PROMOTION Advantages of promotion in company’s point of view are as follows: To put the worker in a position where he will be a greater work to the company & where he may derive incised personnel
satisfaction & income from his work. To remove a worker from his job as an alternative to avoid the embarrassment of firing or demoting him. To fill up higher vacancies from within the organization. To recognize an individual performance & rewired him for his work. To increase an employee‟s organization effectiveness. To recognizes an employee‟s performance and loyalty and motivate him towards better performance. To promote job satisfaction among the employee & give them opportunity for unbroken continuous service. To attract suitable and competent Workers for the company. To develop a competitive spirit among the employee for acquiring an
knowledge and skills required by higher level job. To utilize more effectively the knowledge and skills of employee.
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Factor affecting promotion of Dhanhar Masala Bhandar:Merit basis: - Merit judged from means an individual‟s efficiency and Merit denotes an capacity as individual‟s
past performance.
employee‟s ( skills knowledge, ability, efficiency and aptitude as measured from educational training & past employment record ). Seniority basis: - company also promotes the employee in seniority basis. Seniority system are based on the length of service & job experience . TRANSFER Transfer refers to a horizontal movement of and employee from one job to another in the same company. Within any requisition change in
responsibility, statues & income. In this Dhanhar Masala company transfer are used to place employees
in position where they are likely to get more job satisfaction. A transfer to normally a change in job assignment. department or across department. Objectives of transfer in company’s point of view are as follows:1) To meet organizational need. 2) To satisfy employee need. 3) To better, utilize employee. 4) To adjust the work force. 5) To provide relief. 6) To punish employee. Factor affecting Transfer of the company:1) Poor Placement 2) Changing volume of firm within the firm 3) Level of Training and Development 4) Sensitiveness of the org. towards employees problem 5) Nature of work 6) Structure of the Organization 7) Growth Opportunities Transfer within the same
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TRAINING AND DEVELOPMENT
TRAINING Employee training is distinct from management development. Training is
a short term process utilizing a systematic
and organized procedure by knowledge and skills for a technical and mechanical design primarily for non-
which non managerial personnel learn technical definite purpose. It refers to instruction in It is
operations like operation of a machine.
managers. It is for a short duration and for short duration and for a specific job related purpose. On the other hand development is a long term education process which managerial for general
utilizing a systematic and organized procedure by personnel learn conceptual and theoretical
knowledge
purpose. It involves philosophical and theoretical educational concept and it is design for managers it involves broader education its purpose is
long term development. Training and development both are different in company’s point of view:Training:1) Contents: 2) Participants: 3) Time period: 4) Purpose: 5) Initiative :6) Nature: Development 1) Contents: 2) Anticipant: 3) Time period: 4) Purpose: 5) Initiative: Conceptual and philosophical concept. Managerial personnel. long term continuous process. Total personally. From individual himself- internal motivation. Technical and mechanical operation. Non managerial personnel. Short term one short affair. Specific, job relatedness. For management , external motivation Active process, to meet current need.
6) Nature of the process: - Proactive process- to meet future need.
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COMPANSATION MANAGEMENT
Company‟s wages and salaries are paid by incentives way and called payment by result. Incentives are depend open the productivity of the employee. PRODUCTIVITY OF WORKERS 10000 TO 20000 UNITS 20000 TO 30000 UNITS 30000 TO 40000 UNITS 40000 TO 50000 UNITS 50000 TO 60000 UNITS
(Table No. - A1)
SALARIES 5000 10000 15000 20000 25000
WELFARE OF EMPLOYEE AND SOCIAL RESPONSIBILITY
There are two type of welfare activates of the company: Intra mural :This services include are provided & with in the room,
establishment
these
washing
bathing , rest
uniform, medical aid , recreation facilities. Extra mural: - These services are provided outside the establishment. these include housing accommodation , transport , maturity benefits , sport‟s field, holiday home, etc. Welfare services may also be divided as voluntary & statutory. employers provide the following facilities. Housing Education Transportation Recreation Consumer co operative store Many
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HR AUDIT
Audit is an important test of managerial control of company‟s point of view. It involves examination and verification of accounts and records. Human recourse audit implies company‟s point of view . Advantages of HR audit in company’s point of view: To review the system of acquiring , developing , allocating, and utilizing human resource in the organization . To evaluate the extent to which line managers have implemented the policies and programs . To identify shortcoming in the managers human resources. To evaluate the human recourse staff. Company’s scopes of HR audit are as follows:1) Auditing human recourse polices :1. Policy of the company 2. Policy formulation 3. Communication policy 4. Consistency policy 2) Auditing Human Recourse Programs :3) Audit of Human Recourse :4) Company is Audit Report :in the management of critical examination and evaluation of of the
polices, programs and procedure in the area of HR audit
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HRIS (HUMAN RECOURSE INFORMATION SYSTEM)
The company maintains wide range of records containing detailed information about employment, promotions, transfer, training, welfare activities, wage, employee service etc. it also maintain personal data of every employee. 1) Name of the employee 2) Local and permanent address 3) Appointment of service\job 4) Detailed about past 5) Educational Qualification 6) Promotion, Awards and other achievements 7) Personal detail like marital status, gender etc.
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B) PRODUCTION
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PRODUCT
“MOTIVE”
“To provide best quality with Cheapest Price"
Dhanhar Masala Company Have Also Number of Products with Different Packing, Different Quantity, but with Same Quality. Company have Started to selling Under a Dhanhar brand In1988 At that time Company had only 10 Peoples Staff. In 1988 Packing Production was done by the manually. In 1996 the Handling of Marketing Department was given to the Mr. Hiteshbhai Vankawala Mr.Sandipbhai Vankawala
In 1996 New Automation Technology was Adopted Now Company Have Fully Automatic Packing Machine and Fully Automatic Production Machine. The company has the fully automatic 17 machine. Company‟s products are packing in the different container. Plastic bags Paper cartoon Glass bottle Wooden box Paper cotton bag
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PRODUCT PROFILE
Agmark Hing Chilli Powder Turmeric Powder Coriander Powder Coriander Cumin Powder Aachar Sambhar Rajwadi Garam Masala Tea Masala Tandoori Chicken Masala
(Table No. - B1)
Chhole Chana Masala Kitchen King Masala Chat Masala Pavbhaji Masala Panipuri Masala Punjabi Gravy Masala Garlic Chutney Buttermilk Masala Chewada Masala
Milk Masala Sambhar Masala Biryani Pulao Masala Singoda Atta Rajgara Atta Sindhav Salt Chicken Masala Mutton Masala Fish Masala
Products Samples
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Dhanhar Masala Bhandar [P] Ltd. Bhagal, Surat. (Gujarat)
PROCESS OF THE COMPANY
A. In the every industry, very important factor is the production. 1. How company is producing? 2. How much producing? 3. When producing? 4. Which costing will be for produce item? 5. This all question is related to the production.
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B. Dhanhar Masala also has nice production process with good structure .company have product type of layout for the production process. C. Company has continuous production process. PROCESS IS CONTAINING FIVE MAIN STEPS
RAW MATERIAL CLEANING DEPARTMENT GRADING BLANDING PACKING
(Figure No. – B1)
RAW MATERIAL The company is getting mainly the raw material from the farmers and pays him the money as per the current market rate. The company have very large channel for getting the raw material. Company is getting the raw material from all over the India. In the raw material of the company, main thing, which is related to the nature, so that season is the most important factor in ordering the raw material. Main places for getting raw material for the company are as follow. 1) Karnataka 2) Rajasthan 3) Himalaya 4) Kanyakumari 5) Mumbai 6) Ahmadabad 7) Rajkot 8) Banaras 9) Madhya Pradesh 10) Uttar Pradesh
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The company has the direct channel for getting the Raw material no
intermediate are there.
Some raw materials are the very valuable so that material are comes in
the special truck. CLEANING DEPARTMENT In this department all the raw Material will be scene and dust and other physical dust will removed from it. GRADING It is the step of grade the raw material. All the raw material will get as per their quality. Good quality of raw material will be in a class category and other will be in B and C category as per quality standard. BLANDING It is the main step of the process. In this step all raw material will go in machine for making a final product. This machinery is fully automatic. When this process will over the raw material will convert in to the powder FOOD LABORATORY After making Powder Company is sending the sample for testing that is there any kind of harmful elements.
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PACKING It is the final step of the process. In this step powder of will be packing in to the box or plastic bags. He plastic bags are sealed in hi-tech well sanitized and sterilized laboratories, taking care of all the guidelines set by the Food and Drug Administration. The hygienic measures taken maintain the standards of cleanliness and purity. The spice handling is untouched by human hands and the sealing of the plastic bags is done under the supervision of experienced laboratory technicians. This whole procedure always takes place under the personal supervision of the specialist themselves. The cardboard boxes in which these plastic bags are put in are well packed by our Hi-Tech machinery. These attractive looking boxes have the picture of the spice used in meals with the directions for use. Contents are generally mentioned on the sides and the back of these cardboard boxes. The shelf life ranges two years if the contents are stored and preserved properly.
PACKING MACHINERY
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PLANT LAYOUT
Cleaning
STORAGE UNIT
PRODUCTION UNIT-1
PRODUCTION UNIT-2
PRODUCTION
Department
UNIT-3
BOXES GODOWN
Packing Department
MAIN OFFICE
Dhanhar shop
TOOSL & FIXTURES DEPARTMENT
MATERIAL HANDLING SYSTEM
Every product you have ever used, from televisions to tennis shoes, has been manufactured, stored and shipped to you with the help of the material handling
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CONVEYOR
The company is using conveyor for the handling the boxes of the finished products. Company is using delivery van for the delivering the finished product to the shop keepers. In the production department hand craft is use for the Handling raw material.
PLANNING
In simple term, production planning means decide the sequence of each activity to carry out finish product or item. Production plan is the heart of the organization. Production planning is the plan of future production, which is prepared by production manager with the help of the sales plan of the organization. Production planning is the primary step of any organization. So that it is most important for any organization. It is very useful for the control of the organization‟s activities. In technical term, production planning is that function of management, which decides about the resources that will be required for future manufacturing operation, and allocating of resources to produce the desired output at right time, in right amount, of required quantity and at minimum cost. There are three levels of production planning which are different from each other based on time horizon it covers.
First, this plan is use to achieve the goal of the organization and it is mostly 45 years. Second plan is planning of operations over medium range and it is make for 6-8 months. Third type of planning is most important for real shop floor planning. It is mostly for 1-3 months. Production planning is always made base on the sales plan of the organization. Based on sales plan first of all how much to manufacturing is decided. He has also decided the raw material or input required for the production. For the decide raw material requirement, he first check the stock of raw material, stock of finish goods, pending purchase order, etc. so, the sales plan of the organization is very much important component to make production planning We know the business is dynamic nature. Sometime, it may happen that the demand is very little in the market. So we can see the excess of material. on the other hand, when the demand of the product is very high. We see the shortage of material. So both the types of problems are solving with the help of production planning. Effective production planning helps to the organization to avoid such situation. In DHANHAR, the production plan is prepared based on sales plan, which help them to avoid situation as mention above. The process of DHANHAR is as given below. The company requires specification about the production from the customer. This step is performing when the order placed by the customer and afterwards production schedule is to be prepared. They easily produce as per customer requirements. One copy of this report is send to the production department. So a sale planning is not done on the basis of the production planning rather than production plan is based on the sales plan.
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The customer specification included type of the product lot size, delivery date, material to be used for the products, quality required, etc.. On the basis of these specifications, production plan is prepared. It is deciding in advance the short term as well as long term conversion if raw material and other inputs in to finish product or product to be utilized as inputs for further production by enhancing the utility of inputs. So that, they satisfies customers needs on time. PRODUCTION PLAN IS CONVERTED IN MRP Thus order placed by the customer or their specifications plays a dominant role in material requirement planning. When manager purchased the raw material that will be used full in satisfy the customers demand. Before deciding the required quantity of the material to be needed for the production, the inventories are deducted from the requirement. The frosh material placed after calculating the inventories. The prime objective of material requirement planning is to be trigger timely purchase action of various dependent demand items. Which raw material is required urgently and providing conveys which can be delayed required details of MRP to purchase department. If helps maintain priority control. As far as data of schedule is concern, the customer also specifies it and according to buy the raw material. The supplier on the basis of the delivery schedule, if a supplier can supply the material according to the production schedule he can be selected. In DHANHAR, material requirement planning as manufacturing resource planning the planning is divided in to two parts. 1. Manufacturing resource planning-1 2. Manufacturing resource planning-2 MRP –1 includes man, machine, and material. Where as in MRP-2 apart from it money and marketing are also including MRP- 2 provides greater control over inventory of system is used properly. As in MRP-1 name applies plans only the requirement. This system takes care of whole organization in place of
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single unit. MRP-2 is associated with single unit of an organization. MRP-2 is the expansion of MRP-1. MATERIAL REQUIREMENT PLANNING MENUS I. II. III. IV. V. VI. VII. VIII. IX. X. Design Development Dispatch Inquiry bills of material Bills Inventory Indent Purchase order Work order Planning XI. XII. XIII. XIV. XV. XVI. XVII. XVIII. XIX. XX. Vendor Requisition Customers Sells order Inward Labour Repair Cost Store Quit
(Table No. – B3)
ANALYSIS OF PLANT LOCATION CONSIDERING VARIOUS FACTORS Plant location is same as plant layout. Plant location, which cover main production area, offices for production employees, other offices and other departments of the organization. In technical term, plant layout is physical arrangement of various buildings, production department, technical utilities, personal utilities and locations of various machines within each production department. In DHANHAR, plant layout of it very effective. The main factors which affect its location are as followings: 1). How much to manufacture? As we know DHANHAR produces MASALA. While they decided the plant lay out or location. They also decide their capacity of manufacture MASALA. They first study sales plan and bases on that prepared that production plant & lay out. 2). Location: DHANHAR is on ASHAVANI KUMAR ROAD. Which is good area? There are also many industries in that area. They can do easily their production activity. They also build multi storage building. So their plant lay out is very effective.
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3). No. of employees and visitors: They also provide good canteen facility, insurance facility etc. to their employees every year many no. of student came in DHANHAR for the training. They provide good response to that trainer. 4) Provision for material handling: With in production department they normally use an elevator to pickles up or to put down the raw materials and machines. They also use other material handling equipment like lift, bins, trolley etc. they have also facility to store the material handling equipments 5) Nature of product operation: As DHANHAR produce MASALA. They production activity is at dynamic nature. They make some change in their operation as per the requirement of the organization they also make some provision for such change in the organization.
SCHEDULING
Workshop time is 10:00am to 6:00pm so according to timing of the work centre schedule is prepared. According to customer requirement for service their can timing is calculate. The company prepare weekly schedule for manufacturing the different assembly parts of the machine. According to the customer order and other reason there will be change in the schedule.
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DISPATCHING
FLOWCHART OF THE DISPATCH
(Figure No. – B2)
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INVENTORY MANAGEMENT
In the spice industry inventory, management is most important factor because this industry is totally depends upon the seasonal variation. In the season of various raw material company can get it from the farmer if there is shortage of material then company have to stop production. So company has to manage it very carefully throughout the year Inventory is the total amount of goods and/or materials contained in a store or factory at any given time. Storeowners need to know the precise number of items on their shelves and storage areas in order to place orders or control losses. Factory managers need to know how many units of their products are available for customer orders. Restaurants need to order more food based on their current supplies and menu needs. All of these businesses rely on an inventory count to provide answers. Company is taking an inventory monthly. Because company have to order the raw material quantity in every end of month and company cannot stock the item more the one month because all items are related to the food. The word 'inventory' can refer to both the total amount of goods and the act of counting them. Many companies take an inventory of their supplies on a regular basis in order to avoid running out of popular items.
ABC analysis The company is doing the ABC analysis for taking the inventory. In the first category, a company is putting the high valuable thing that comes from distance places such from Himalaya, or from kanyakumari etc. The second category company is the items which is valuable but easily available for the company. Third category is of items which is not so valuable and also easily available.
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QUALITY CONTROL
We follow strict quality conditions. We are manufacturing spices under the strict norms and rules prescribed in PF standards. Our commitment to the client is reflected in our commitment to the quality of the product. We have an advanced quality control department consisting of modern machinery, enabling us to check purity and hygiene level at every level of production. Right from production to packaging, our products pass through stringent quality control tests in distinct units. Natural raw materials are carefully selected, checked for various quality parameters and processed in the most hygienic processing conditions thus preserving the Indian aroma and taste. We at Dhanhar Masala have been always concerned about giving our customers, high quality products specified as per government norm
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C) MARKETING
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PRODUCT
PRODUCT MIX
MEANING PRODUCT MIX A product mix (also called product assortment) is the set of all product lines and items that particular seller offers for sale to buyer‟s an organization with several product lines has a product mix. Product Mix has Four main characteristics: Width Depth Length Consistency Width: The width of a product refers to how many different product lines the company carries. Product width of Dhanhar Masala is 2 lines. Length: The length of the product refers to the total number of items in the mix. Length of the company is 28 Depth: The depth of a product refers to how many variants are offered of each product in the line. Depth of the company is 85. Consistency: The consistency of a product refers to how closely relate the various product lines. Customer can buy any Product of Dhanhar Masala from its outlet.
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PACKAGING AND LABELING
PACKING It is the final step of process. In this step powder of will be packing to the box/plastic bags. He plastic bags are sealed in hi-tech well sanitized and sterilized laboratories, taking care of all the guidelines set by the Food and Drug Administration. The hygienic measures taken maintain the standards of cleanliness and purity. The spice handling is untouched by human hands and the sealing of the plastic bags is done under the supervision of experienced laboratory technicians. This whole procedure always takes place under the personal supervision of the specialist themselves. The cardboard boxes in which these plastic bags are put in are well packed by our Hi-Tech machinery. These attractive looking boxes have the picture of the spice used in meals with the directions for use. Contents are generally mentioned on the sides and the back of these cardboard boxes. The shelf life ranges to years if the contents are stored and preserved properly. PACKING MACHINERY
LABELING “Label is a part of product .which carries verbal information about the product or the seller. It may be a part of a package. Or it may be a tag attached directly to the product.”Label may be small slip or printed statement.
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Label gives following information in any product in the production:1) Brand name 2) Picture of the product 3) Address of the producer and industry 4) Gross and net quantity of the content 5) Direction for the use 6) Ingredients in the product 7) Precautionary measures 8) Nature of the product 9) Date of packaging and expiry 10) Retail price Labeling photos of the Dhanhar Masala’s product
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PRICE
Company's price of the product is decided on the Bases of the company's costing of manufacturing. It includes all the exp. of the Raw Material:Transportation Packing Government taxes (5%) Inspecting expenses Production expenses Agent commission C.N.F commission {super stockiest} Profit of retailer
Company is also considering the price of the competitors. In the boom period when there is high competition at that time company decrease their price below the cost and incurring loss because of standing in to the market. Because of the company's stability in the price, company is getting more response from the company.
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Dhanhar Masala Bhandar [P] Ltd. Bhagal, Surat. (Guj) PRICE LIST
PRODUCT RAJWADI GARAM MASALA PKG. 25.g 50.g 100.g 200.g M.R.P. 5.00 12.00 23.00 46.00 PRODUCT PAVBHAJI MASALA PKG 15.g 50.g 100.g 200.g jar 500.g jar M.R.P. 5.00 22.00 40.00 75.00 MASALA PRODUCT CHICKEN PKG 15.g 50.g 100.g 200.gJar M.R.P. 5.00 20.00 38.00 74.00
500.g
110.00
155.00
500.gJar
150.00
AGMARK HING
50.g 100.g 200.g 500.g
17.50 34.00 67.00 165.00 TEA MASALA 15.g 50.g 100.g 50.g 100.g 200.g jar 500.g Jar 175.00
MUTTON MASALA
15.g 50.g 100.g 200.gjar
5.00 20.00 38.00 74.00
SUPER GARAM
15.g
5.00
200.g jar 500.g Jar
500.gjar
150.00
50.g MASALA 100.g 200.g 500.g NO.300 HING 50.g 100.g 200.g 500.g 1.kg SUPER HING(DABBI) 50.g 100.g
8.00
FISH MASALA
50.g
20.00
15.00 29.00 70.00 12.00 18.00 34.00 83.00 155.00 17.00 33.00 CHHOLE CHANA MASALA PUN. GREVI MASALA 15.g 50.g 100.g 200.g 500.g 15.g 50.g 100.g 200.g 5.00 18.00 35.00 68.00 130.00 5.00 18.00 35.00 68.00 GOL-KERI MASALA AACHAR MASALA GUNDAKERI MASALA
SURTI MASALA SP.G.MASALA DELUX MASALA MARI POWDER SP.TEA MASALA JINGER POWDER
FINE CLASSIC TURMERIC POWDER
5.kg 5.kg 50.g 100.g 200.g 500.g 1.kg
15.g 50.g 100.g 200.g 500.g
5.00 13.00 24.00 45.00 110.00
JIRU POWDER LILOMACROHING KALOMAVROHIN LALMACROHING MILK MASALA
Classic CORIANDER POWDER
5.kg 50.g 100.g 200.g 500.g 1.kg
15.g 50.g 100.g 200.g 500.g 15.g 50.g 100.g
5.00 13.00 24.00 45.00 110.00 5.00 17.00 33.00 ROCK SALT SHINGODA LOT RAJGARA LOT
100.g 100.g 200.g 500.g 100.g 1.kg 40.g 100.g
CORINDER CUMIN POWDER
50.g 100.g 200.g 500.g
(Table No. – C1)
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PLACE
Companies have mainly three types of the channel: 1. Communication channel 2. Distribution channel 3. Service channel Communication Channel: Through this channel company deliver & receive message form target market. The Company‟s Communication channel includes Newspapers, Radio, local TV channel, postures, local transportation etc. Distribution Channel: Through this channel company, displays sell & deliver the physical product to the buyer. Company includes CNF (super stockiest), Distributor, Shopkeepers etc. Every company has their Distribution. Some companies sale their products directly to the consumer. Those companies have No distribution channel. Company have long distribution channel including CNF (super stockiest), Distributor, Shop keepers etc. “Distribution network of Dhanhar”
Service channel: Through this channel, company Carry out Transactions with potential buyer. This channel includes Agent Go down delivery, Warehouses,
Transportation companies, Insurance Company etc. Company is Providing Transportation, Insurance Facility to the distributor up to final shipment of good to the buy.
PROMOTION
In the competitive field Promotion is the most useful tools. Promotion is related to the 'how to increase the sales by beating the competitor & by satisfying the customer promotion have some main faces i. PUBLICITY ii. DOOR TO DOOR SELLING iii. ADVERTISING iv. SALEA PROMOTION Sales promotion :Dhanhar Masala also using this tool by giving the sample. By offering gift on purchase of bulk quantity. By giving free coupon. By giving price discount By giving prize to distributor on achieving sale target.
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Advertising :Advertising have also different number of tools. Television New paper Banner Hand bill Local Channel Holding
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D) FINANCE
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MEANING OF FINANCE
The importance of finance in the business is same as the importance of the spring in the clock. Finance is required from the starting of the business until it terminates, as a means of the business transaction. Finance is the blood of the business without which an enterprise cannot survive. Finance is that administrative area or set of administration function in an organization which relates the arrangement of cash and credit so that organization may have the means to carry out its objective as satisfactory as possible”. Finance is regard as life blood of business organization and management of finance study about procurement of funds from most advantage source and its effective disbursement with a view to maximizing shareholder‟s wealth. Account activity is also an important part of finance management.
MEANING OF FINANACIAL MANAGEMENT
Financial management is the concern with the managerial decision that results in the acquisition and financing of long term and short term credit of the firm. Financial management is a managerial activity, which is concerned with planning and controlling of the firm financial resources. Financial management means the use of such managerial function as planning and control to undertake finance function. Finance management is that managerial activity which is concerned with the planning and controlling of the firm financial resources. Still today it has no unique body of knowledge of its own and draws heavily or economic for its theoretical concept. Finance is regard as life blood of business organization and management of finance study about procurement of funds from most advantage source and its effective disbursement with a view to maximizing shareholder‟s wealth. Account activity is also an important part of finance management.
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Dhanhar has also effective department which perform all the works related with transportation and money. Dhanhar has good financial petition and play important role to maximize its share value. So, finance department is one of the important department finance organization department finance organization.
FINANCE FUNCTION
Sources Finance management is that managerial activity which is concerned with the planning and controlling of the firm financial resources. Still today it has no unique body of knowledge of its own and draws heavily or economic for its theoretical concept. Finance is regard as life blood of business organization and management of finance study about procurement of funds from most advantage source and its effective disbursement with a view to maximizing shareholder‟s wealth. Account activity is also an important part of finance management. Dhanhar Masala Bhandar has also effective department which perform all the works related with transportation and money. Dhanhar Masala Bhandar has good financial petition. So, finance department is one of the important department finance organization department finance organization. Importance of Finance Department in Company The financial department of the any company has perform of follows maintain three function. They are under. Investment Decision:The function related in the secretion of assets in which financial will be invested by a firm either in long term or short term assets. Financial Decision:It involves decision regarding financial mix to determine capital structure. It is broadly related with assets from of the firm.
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Dividend Policy Decision:The dividend policy decision should be analyses in relation to the financing decision are a firm. It will upon the preference of share holders, Investment opportunities available within the firm. The main objectives of finance department in Dhanhar Masala are as under:1. To monitor & measure debtors 2. To prepare profit & loss account 3. To maintain working capital at minimum level compared to last year 4. To prepare a balance sheet of each year 5. To monitor & measure internal customer satisfaction 6. To increase short- term investment. Finance Function: Control of expenditure and economy measures. Audit and Accounts. Financing of Five year Plans and expenditure sanctions relating to Plan and Non Plan Schemes of all departments. Exercise of financial powers delegated by the Governor in case where such powers have not been specifically delegated to other departments and authorities. Scales of pay and allowances, revision, etc. Advice on all matters relating to pay and Allowances, Pension and General Financial Administration. Codification of Financial rules and regulations.
WORKING CAPITAL MANAGEMENT
Meaning of Working Capital: Generally, term Working Capital refers to that part of capital which is not field up in the fixed assets but is used to meet the day to day requirements. It is invested current assets like cash, stock, bills receivable, debtors, etc. this type
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of capital is used to make payments for purchases raw materials, wages and to meet other expenses till goods are sold and money collected against it There are two type of working capital- gross and net. Gross working capital refers to the company investment in current assets. Current asset are the asset which can be converted into cash within an accounting year and include cash, short term securities, debtors, bill receivable And stock. Net working capital refers to the difference between current liabilities. Current liabilities are those claims of outsides, which are expected to mature for payment within in accounting year and include creditors, bill payable and outstanding expenses. Net working capital = total current assets- total current liabilities Need for Working Capital: In DHANHAR MASALA BHANDAR, they are doing successful sales program. They are convert cash in to inventory. Convert inventory in to receivables. In addition, receivables are converting in cash. Kinds of working capital in Dhanhar Masala Bhandar: Permanent or fixed working capital Temporary and variable working capital Cash working capital Source of working capital:-
(Figure No. – D1)
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FINANCING OF LONG TERM WORKING CAPITAL:Long term working capital should be provided in such a manner that the enterprise may have its uninterrupted use for a long time. It can be conveniently financed by the following sources: 1. Issue of shares:Issue of share is the most important source for raising the permanent working capital shares are of two types-Equity shares and preference shares. Maximum amount of permanent capital be raised by the issue of shares. 2. Floating of Debentures:A debenture is an instrument issued by the company acknowledging its debt to its holder. It is also an important source of long term working capital. The firm issuing debentures also enjoy a number of benefits, such as trading on equity, retention of control, tax benefits etc. 3. Ploughing Back of Profits:It means the reinvestment by a concern of its surplus earning in its business. That is, a part of the earned profits may be ploughed back by the firm, in meeting their working capital needs. It is an internal of source of finance and is most suitable. 4. Long-term Loans:Financial institutions such as commercial bank, life insurance Corporation of India, industrial finance corporation of India, stat finance corporation etc. provide all types of loans-long-term, medium-term, short-term loans. This type of finance is ordinarily repayable in installments. 5. Accepting Public Deposits:Public deposits are the fixed deposits accepted by a business enterprise directly from public.
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FINANCING OF SHORT-TERM WORKING CAPITAL:The category of fund covers the need of working capital of financing day-today business requirements. They are of two types-internal source and external source. INTERNAL SOURCES 1. Depreciation Funds:Depreciation reserve provides a good source of funds for working capital. 2. Provision for Taxation:The provision for taxation can also be used by the concern as a source of working capital during intermittent periods. 3. Accrued Expenses:The firm can postpone the payment of expenses for short periods. This constitute as a source of working capital.
EXTERNAL SOURCES 1. Trade Credit:One of the most important forms of short-term finance is the trade credit extended by one business enterprise on another on the purchase and sale of goods. 2. Credit Paper:In the category of credit paper, bills of exchange and promissory notes of shorter duration, varying between a month and six month. These papers can be discounted with bank. 3. Bank Credit:Commercial Banks are also principal sources of working capital. They provide working capital in the form of overdrafts, cash credit, short-term loans etc.
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4. Customer Credit:Advances may also be obtained on contracts entered into by the enterprise. Customers are often asked to make advance payment in cash in lieu of a contract to purchase. 5. Loans from Directors:An enterprise can also obtain loans from its officers, directors etc. These loans are often obtained at low rate of interest. 6. Security of employees:If employees are required to make deposits with their employer companies, such deposits are available or short-term working capital.
INVENTORY MANAGEMENT
For many business firms, inventory is one of the visible and tangible of doing business. Raw materials, work in process and finished goods all represent various form of inventory. In simple words, inventory refers to stocks of good necessary to do business. In fact, for a business firm, inventory is both an assets and a liability. Too much inventory consumes physical space, causes of financial burden, and increasing the possibility of damage, spoilage and loss. On the other hand, too little inventory disrupts manufacturing operations, engenders chaos on the shop floor, poor customer service. Need to hold Inventory Business firm keep inventory for different purpose. Every firm, big of small, trading of manufacturing has to maintain some minimum level of inventories. Transaction motive:Every firm has to maintain some level of inventories to meet the day to day requirement of sales, production process, customer demand etc. the inventory level will provide a smoothness to the operation of the firm.
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Precautionary motive:A firm should keep some inventory for unforeseen circumstances also. For example, supply of raw material may not reach due to strike by the transporters. Speculative motive:The firm may be tempted to keep some inventory in order to capitalize an opportunity to make profit Types of Inventory 1) Raw Material Inventory: These are goods which have not yet been committed to production in a manufacturing firm. They may consist of basic raw material. 2) Work-In-Process:This includes those materials which have been committed to production process but have not yet been completed. 3) Finished goods:These are completed products awaiting sale. They are the final output of the production process in manufacturing firms. 4) Supplies:A fourth kind of inventory, Supplies or what is called consumable -stores are also maintained by the firms. These materials are of low value & they do not enter the production process, for example oil, fuel, bulbs, soaps etc. 5) Scrap:The waste of materials arising during manufacturing process is also a part of the inventory. Even defective pieces to be disposed off are a part of in inventory.
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BALANCE SHEET AND GENERAL REPORTS
Annual General Report & Balance Sheet of the DHANHAR EXIM PVT. LTD for the year of 2010 – 2011 Trading Account as on the date 31/03/2011 (Account Year: - 2010 – 2011) Particulars (Name of Account) Sales of Goods (Retail) Closing Stock A/C Fire & General Ins. A/C Opening Stock A/C Sales Tax A/C Octroy A/C Electric Bill Exp. A/C Purchase of Goods (Retail) Purchase of Goods (tax) Gross Profit Debit ------------12,44,697 1,32,315 2,21,058 2,33,280 2,08,98,501 43,01,891 68,44,209 Credit 2,87,81,702 28,45,211 22,48,738 -----------------------------
Grand Total of Trading Account
(Table No. – D1)
3,38,75,951
3,38,75,948.21
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Profit & Loss Account as on date 31/03/2011 (Account Year: - 2010 – 2011)
Particulars (Name of Account)
Expense
Income
Gross Profit
-----
68,44,209
Bank Com. A/c Discount A/c Telephone Exp. A/c Petrol Exp. A/c Other Exp. A/c charity Exp. A/c Machinery Reading Exp. A/c Advertising Exp. A/c Salary Exp. A/c Fire & General Ins. Exp. A/c Professional Tax Stationary Exp. A/c Mobile Phone Exp. A/c Cold Storage Rent Computer Programme Service Exp. Lava jam Exp. A/c other Exp. Carriage Outword Exp. Letter (Tar - Tapal) Exp. Packing Stock Hire Charges Depreciation Exp. Legal Action Fee Exp.
Balance sheet It is statement of financial position of any economic unit disclosing as at a given movement of time its assets at cost, or other indicated value, its liabilities and its ownership equities. It shows current assets, current liabilities, fixed assets, investment, differed charges, long-term liabilities, proprietors fund etc. In brief it includes the figure in summery from of various assets held by the company and also its liability towards outsiders including the owners at the end of last day of an accounting year.
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Balance Sheet as on date 31/03/2011 (Account Year: - 2010 – 2011) Particulars (Name of Account) Partners/Prop. Capital Secured Loans Unsecured Loans Sundry Creditors (Suppliers) Other Liabilities Sale tax A/C (Previous) Other Account Fixed Assets Machinery A/C To lamp A/C Computer Printer A/C Motor Cycle (bike) A/C Air Condition A/C Fax Machinery A/C Television A/C Computer A/C Civil Exp. A/C Good will A/C Motor Car A/C Advance Given to Employees Sundry Debtors (Customers) Cash Account Cash Book Bank Account Dena Bank Current Assets Closing Stock A/C (B/A) Electric Item A/C --------28,45,211 51,624 ----3,94,109 ----11,10,186 --------------------------------------------17,500 ----1,99,000 7,041 10,317 3,752 45,694 2,292 4,175 64,427 31,785 3948019 11,65,948 ----2,74,517 47,561 3,20,000 --------Liabilities 55,54,326 32,11,252 4,15,626 61,95,516 Assets -----------------
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Packing Stock A/C
-----
6,01,277
Grand Total of Balance Sheet
(Table No. – D3)
1,57,59,000.77
1,57,59,000.77
DHANHAR EXIM PVT. LTD goes to on the profit way comparing the year of 2009 - 2010. DHANHAR EXIM PVT. LTD has more profit in the year of 2010– 2011. In the year of 2009–2010 Gross Profit was Rs. 51, 66,835.92 and year of 2010–2011 Gross Profit is Rs. 68, 44,209.19. So, it means Rs. 16,
77,373.27 more profit in the year of 2010–2011 comparing the year of 2009– 2010. It‟s good shine for the business because DHANHAR EXIM PVT. LTD goes to on the profit way.
ANALYSIS OF P & L ACCOUNT ANS BALANCE SHEET BY RATIO Liquidity Ratio:Liquidity Ratio 1.Current ratio = Current assets Current liability 2011(Amount) 3498112 9822394 0.356:1 Interpretation: If Current ratio is 2:1 then it is satisfactory but here current ratio is 0.356:1 so it is not satisfactory as per the accounting standard 2.Acid test ratio = liquid Assets liquid Liability 17,78,812 98,22,394 0.181:1 Interpretation: If Acid test ratio is 1:1 then it is satisfactory but here Acid test ratio is 0.181:1 so it is not satisfactory as per the accounting standard 3.Long term fund to fix Asset ratio = Long term fund Fixed assets 9181205 1534435.34 5.983441948 Interpretation: Long term fund to fix Asset ratio is 5.983so it is satisfactory as per the accounting standard
(Table No. – D4)
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Profitability ratio:Profitability ratio 1.Gross profit ratio = Gross profit * 100 Net sales 2011 (Amount) 68,44,209*100 2,87,81,702 23.78 or 1:4.205 Interpretation: If Gross profit ratio is 1:4 then it is satisfactory but here Gross profit ratio is 1:4.205 so it is satisfactory 2.Operating ratio = COGS+Operating exp.*100 Net Sales 2,87,81,702 99.96 Interpretation: Operating ratio is 99.96 is so good for the company so it is satisfactory as per the accounting standard 3.Net Profit ratio Net Profit*100 Net Sales 147398644 28781702 5.12126225 Interpretation: If Gross profit ratio is 1:3 then it is satisfactory but here net profit ratio is 5.121:1so it is satisfactory and it is very good for the company
(Table No. – D5)
289,70,10,056
Efficiency Ratio:2011(Amount) 1.Stock Turnover ratio = Net Sales Average inventory at cost 14.074498 Interpretation: this ratio show the how many time is turnover of the money or investment here Stock Turnover ratio is 14.074 so it is one strength point of company 2.Debtors Turnover ratio = Debtor – BR *360 Net Credit Sales 8953.81 Not Define --------28781702 2044954.12
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3.Creditor Turnover ratio =
Creditor – BP*360 Net Credit Purchase
5927172.7 Not Define ----------
(Table No. D6)
BUDGETING AND PLANNING Definition of Capital Budgeting: Capital Budgeting may be defined as decision making process by which an organization evaluates the major investment proposals keeping due consideration for the, Amount needed for Investment Amount available for Investment Amount that can be acquired from different sources The cost of raising funds Future cash Inflows
Types of Capital Budgeting in the Dhanhar Exim Pvt Ltd
1. 2. 3. 4. 5. Introduction of a New Product Change in Method of Production Replacement Business Expansion Substitution of Machinery for Labour
Definition of Financial Planning: Financial Planning is primarily a statement estimating the amount of capital and determining its composition. It includes. : 1. The determination of the form and proportionate amounts of securities. 2. Develop the best plan to obtain the required fund.
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3. Analyze control points which need to be established. 4. Estimated the requirement of financial resources in time with its operating programmed 5. Established control points which need to be established.
Advantages of Financial Planning in any Company;
Economical procurement and profitable use of funds Elimination of Waste To Maintain Effective Control Modern business is very complex. Financial Planning helps management to avoid waste which possible by maintaining close co-ordination between various functions of the firm. Financial Planning provides broad guidelines for procurement, allocation and disbursement of funds. Control can be exercised in an effective manner when actual are compared against these guidelines. In the Dhanhar Exim Pvt. Ltd. financial planning is very strong. Finance position level is maintained for the future.
Factors affecting for the financial planning in the Dhanhar Exim Pvt. Ltd.:
Nature of business Attitude of the Management Alternative sources of finance
Steps in Financial Planning, which are taken by the Dhanhar Exim Pvt. Ltd.;
Review and Analysis of past performance Establishing objectives Financing Consequences of Financial Plans
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TAKING LOANS (SOURCES OF FUNDS)
DHANHAR EXIM PVT. LTD Pvt. Ltd. requires and uses Short Term Capital for running the business. Short Term Capital to finance its working capital requirements. Dhanhar Exim Pvt. Ltd. taking no loans by any Industrial bank. Dhanhar Exim Pvt. Ltd. use only Retained Earnings in the business firm. Depreciation charged and retained earnings represent the internal sources of finance available to the Company. If the depreciation charges are used for replacing worn-out equipment, retained earnings growth the only internal sources for financing expansion and growth. Industrial normally retain 30 per cen to 60 per cen of profit after tax for financing growth.
Advantages of the Retained Earnings in the Dhanhar Exim Pvt. Ltd.
1. Retained Earnings are readily available internally. They do not require taking to outsiders. 2. Retained Earnings effectively represent effect of additional equity in the firm. 3. There is no transfer of control when a firm relies on retained earnings. 4. The capital appreciation that arises as a sequel to retained earnings is subject to a lower tax rate. 5. Reinvestment of profit may be convenient for many shareholders as it relieves them to some extent of the problem of investing on their own.
PROVIDING FUNDS TO DIFFERENT DEPARTMENT
Dhanhar Exim Pvt. Ltd. providing funds to different departments in their budgeting Programme 8% to 10% for marketing department 20% to 30% for capital budgeting 2.5% to 4% for employee welfare 50% to 55% for wages & salary
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CHAPTER 4 SWOT ANALYSIS
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Strength:Company has immense of strength to compete with its competitors. Company has a control over the personnel department the base of the finally strong. DHANHAR EXIM PVT. LTD produces Masala with best quality and cheaper price which is one of the USP (Unique Selling Proposition) of the company. Owing to his timely delivery, quality products and client centric approach, they have attained commendable credibility in the market. they follow ethical and transparent business policies to gain the confidence of our clients. Some of the pertinent factors that set us apart from our competitors are as follows: A state-of-the-art infrastructure Well coordinated team Economical prices On-time delivery Weakness:I have noticed one of the significant cons of the company and that is a disability to produce and deliver the ordered goods on time. And collection policy is very liberal Opportunity:Company have one of the great area as to cover the market share in this respective sector by increasing its attention towards cost & by expanding their business in other states of Indian market and by going globally like U.K, U.S.A rather than just focusing on Gujarat. Threats:Company has the biggest threat to compete with the other giant players which are much effective in production and their quality worldwide. A part from this another common threat would be regulation from the government towards this company in future by hiking the raw materials price and all.
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CHAPTER 5 PEST ANALYSIS
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Political Legal Change in tax structure, policy matters has got a profound effect in this relatively undifferentiated industry. In the recent year‟s budget FM intended to levy excise in branded spices to the tune of 8%, though this proposal had been rolled back but such kind of taxes fosters the growth of loose market at the cost of branded market. Government‟s strict regulation on quality entails the installation of costly machines, which in turn leads to increase in prices of branded product As a result of this the sale of loose spices increases, it must be noted that we are not criticizing quality policy of government but sale of low quality loose spices should be checked. Policy of different mandis from which the material is procured changes from time to time, such a change affects the industry. The spice getting industry was formerly a SSI reserve, which also had it share of effects in shaping the industry. The liberalization drive by government will also affect the shape of grinding industry as bigger players like HLL and Nirma is contemplating an entry in this market. Policy matter regarding this industry is bound to change the face of spice grinding industry. As India is a member of WTO so it has the obligation of enforcing product patent by 2005 AD. This will effect in many new phenomenon emerging in this industry. Economic Factors The fate of spice grinding industry to a large extent depends on monsoon. A favorable monsoon leads to low prices as a result of which people opt for slightly better branded spices where‟s if the prices are high loose is sold more because of its slightly lower prices. Any national or international level change in situation leads to speculation and widespread change in this industry.
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Export scenario also affects the domestic industry, if exports are high and profitable many big players focus more on exports and competition gets diluted back home where‟s a decrease in exports leads to stiffer competition in domestic market. Socio-cultural Factors People are seeking quality products now a days and this has lead to steady increase in packed spice market. Increase in consumer attitude has lead to increase in brand acceptance and brand awareness as people link it to quality and accountability. Such a trend is favorable to packed spice industry. Housewives drive towards convenience has also lead to increase in packed spice business. A working housewife is not in a position to grind the spices as it takes time and so she seeks convenience. In today‟s society as women are becoming more assertive and career oriented the future of packed spice business looks bright. Technology Technology is supposed to be simpler in this industry but stircker PFA and Agmark norms and US, and other ISO requirements require more than the existing technology. Any other technology change keeping in line with ISO and U.S. requirements may force to change as almost all and those are involved in export market with varying degrees of intensity. During conventional grinding process there is a considerable heat evolved which result in losses of volatile oil which adversely affect the yield and quality of the product. This was the reason why Ramdev and others came up with new technology with less heat involvement. This had significant affect in shaping this industry.
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CHAPTER 6 PORTER’S FIVE FORCE MODEL
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The model of pure competition implies that risk-adjusted rates of return should be constant across firms and industries. However, numerous economic studies have affirmed that different industries can sustain different levels of profitability; part of this difference is explained by industry structure. Michael Porter provided a framework that models an industry as being influenced by five forces. The strategic business manager seeking to develop a competitive advantage over rival firms can use this model to better understand the industry context in which the firm operates.
THREAT OF ENTRY
Barriers of Entry Economies of scale The raw material cost is decisive in fixing the price of grinded powder. The shroud procurement plays an important part in determining cost. Economies of scale may play a part in cost reduction but that is marginal & does not deter small players to enter the market. Shroud procurement & not large scale procurement is a key to competitiveness. Art indirect benefit of scale here is good relationship with supplier of raw material & assurance of good quality Product differentiation Differentiation is a difficult job in the industry as it is a commodity. DHANHAR is trying to differentiate itself on the basis of “LOW COST HING” Still there is a hardly a creditable ground for differentiation. Big players may not have basis for differentiation against small players. Big players have their grinding system far more superior to small & cottage units as they use machines which generates less heat during grinding & hence volatile oil which are an essential nutrient. Big players do not have differentiation amongst themselves, as the production process is simple & uniform across the industry.
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Access to distribution channel It is very easy to get access to the distribution channel because nobody owns the channel & no contracts are made with the retailers to that effect The initial investment required for starting a companies not too much and raw material availability is adequate and thus too many small firms comes into existence which affects the market share of big and medium size firms. Labor required is also available at cheaper rate and a very few skill labour are required for the production mostly unskilled labour required which also reduces the project cost. The cash for the product sold comes back very fast to the company which attracts more of new entrants. The cash flow in the industry is very fast than any other industry so that cash is coming very fast in industry so that these features will attract more numbers of the competitors in the industry. Government controls in the industry are very low rules and regulations to be followed are less because of which there is free entry and exit and thus threats area very high.
INTENSITY OF RIVALRY
Rivalry is intensive in this industry. Every price cut is matched by subsequent price cut by other manufacturers. Reasons for intense rivalry may be mentioned as follows: 1. A larger number of firms increase rivalry because more firms must compete for the same customers and resources. The rivalry intensifies if the firms have similar market share, leading to a struggle for market leadership. E.g. Ramdev, Madhur, Wonder etc. 2. Moderate fixed costs result in an economy of scale effect that increases rivalry. When total costs are mostly fixed costs, the firm must produce near capacity to attain the lowest unit costs. Since the firm must sell this large quantity of product, high levels of production lead to a fight for market share and results in increased rivalry.
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3. Low storage costs or highly perishable products cause a producer to sell goods as soon as possible. If other producers are attempting to unload at the same time, competition for customers intensifies. 4. Low switching costs increases rivalry. When a customer can freely switch from one product to another there is a greater struggle to capture customers. 5. Low levels of product differentiation are associated with higher levels of rivalry. Brand identification, on the other hand, tends to constrain rivalry. Masala are basically commodities & hence there is a lack of perceptible difference among different offers. Even a small unit‟s product is, to a layman, identical to a big manufacture‟s product. 6. Industry Shakeout. A growing market and the potential for high profits induce new firms to enter a market and incumbent firms to increase production. A point is reached where the industry becomes crowded with competitors, and demand cannot support the new entrants and the resulting increased supply. The industry may become crowded if its growth rate slows and the market becomes saturated, creating a situation of excess capacity with too many goods chasing too few buyers. A shakeout ensues, with intense competition, price wars, and company failures. 7. As many small units crop up during season rivalry becomes intense at that time. 8. If we see the small players especially during season, who grind the chilly in front of consumers which is the major source of creating trust among consumer, This is one of the differentiation tactics used unbranded, unpacked marketers who by this way give tough competition to players. Dhanhar Masala is facing major competition from the Ramdev Food Products Ltd. and the loose products (spices) in the market. The RFPL is the market leader and thus the competition faced is very high in every area and the loose spices too have greater market share in many areas which affects the market share of the packed spices. Apart from these as the company‟s products are
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available in four different groups there are many competitors in each group affecting the company market share.
THREAT OF SUBSITUTE
In Porter's model, substitute products refer to products in other industries. To the economist, a threat of substitutes exists when a product's demand is affected by the price change of a substitute product. Substitute products affect product price elasticity as more substitutes become available; the demand becomes more elastic since customers have more alternatives. A close substitute product constrains the ability of firms in an industry to raise prices. The competition engendered by a Threat of Substitute comes from products outside the industry. While the threat of substitutes typically impacts an industry through price competition, there can be other concerns in assessing the threat of substitutes. In the spice industry the consumers are purchasing either the loose spices or the packed spices to fulfill their needs and moreover there is no substitute of the spices and hence there is no threat of the substitute in the industry.
BARGAINING POWER OF BUYERS
Bargaining power of buyers high owes the following reasons. Product of industry is standard or undifferentiated. There is low switching cost faced by buyers. Retailers also have good bargaining power, as they are able to influence buyer‟s choice.
BARGAINING POWER OF SUPPLIERS
Supplier‟s power is not high, as they are numerous in numbers. Again any forward integration by supplier does not pose sever threat as already many players are present. Further lack of switching cost make their bargaining power even lower.
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A producing industry requires raw materials - labor, components, and other supplies. This requirement leads to buyer - supplier relationships between the industry and the firms that provide it the raw materials used to create products. Suppliers, if powerful, can exert an influence on the producing industry, such as selling its raw materials at a high price expropriating some of the industry's profits. The following tables outline some factors that determine supplier power. The companies are purchasing the spices from the farmers. As there is enough availability of raw material the company can purchase it from the place where it find it‟s cheaper as compare to other place. More over as the spices are perishable in nature they have to be crushed into powder as older it gets less price is available for the same. Thus the suppliers too are ready to sale it off as soon as possible. Because of all this reason the bargaining power of suppliers is less or does not affect much.
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CHAPTER 7 BCG MATRIX
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It is an approach to corporate level strategy advocated by the Boston Consulting Group (BCG) also known as BCG Matrix. A framework that category a firm‟s business unit, by the market share that they hold and the growth rate of their respective market. Introduced the idea that an organization‟s various business could be evaluated using a 2*2 matrix A business unit is evaluated using a SWOT analysis and placed in one of the four categories. Two dimensions Relative competitive position (market share) Business growth rate Four positions Question marks (problem child) Stars Cash cows Dogs
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BCG MATRIX FOR DHANHAR MASALA ARE AS UNDER
Star Question mark Cash cow Dhanhar Pani puri Masala, Pav Bhaji Masala, Panjabi Gravy Masala, Chilly powder, Dog
(Table No. – 7.1)
Dhanhar Hing, Dhanhar Garam Masala Dhanhar Singoda Atta, Rajgara Atta
Dhanhar mutton Masala, Fish Masala, Chicken Masala
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PART 2
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INTRODUCTION
Research Methodology is a scientific and systematic way to solve research problems. The methodology may differ from problem to problem. Thus, the scope of research methodology is wider than research methods. In a way, research methodology deals with the research methods and takes into consideration the logic behind the methods. Research methodology is a systematic design collection of analysis, reporting of data and finding relevant to specific marketing situation that is faced by the company. With the paradigm in the market shifting from the producer to consumer, their needs and preferences have become essential to be considered by the producer. Today in the world of cutthroat competition, to be ahead in the race and to lead it is required to consumers first. Research begins with a question or a problem. Its purpose is to find answers to questions through the application of systematic and scientific methods. Thus, research is the systematic approach towards purposeful investigation. This needs formulating a hypothesis, collection of data on relevant variables, analyzing and interpreting the results and reaching conclusions either in the form of a solution or certain generalizations. Research is an academic activity and a systematized effort to gain new knowledge.
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CHAPTER 8 LITERATURE REVIEW
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(Nidhi Gupta and Priti Panchal, 2009) Food is essential for sustenance of life. Adulteration of food cheats the consumer and can pose serious risk to health in some cases. The present study was planned with the main objective of identifying buying practices of homemakers and their extent of awareness related to selected food products. Stratified sampling method with questionnaire cum interview schedule was adopted to collect data. Tool was standardized by difficulty index, validity index and split half reliability method. Statistical test such as chi-square between awareness and occupation, t-test among age group, educational level and extent of awareness were carried out. Study revealed that respondent‟s awareness related to rights and responsibilities was good but poor related to food adulteration. Education, family income and occupation had an effect on extent of awareness. Age and awareness has no correlation while a positive correlation was found between family income and awareness.
(Schiffman and Kanuk, 2004, p.581)Verbeke (2005) recognizes that at any point in time throughout the decision-making process, judgments and choices are affected by a variety of stimuli from environment as well as by internal process and characteristics form the consumers themselves.
Based on earliest 14 presented models of consumer behavior towards food (Pilgrim, 1957, cited by Verbeke,2005) and on a review of factors affecting food acceptance and behavior (Shepherd, 1990,Steenkamp, 1997, cited by Verbeke, 2005) proposed a classification with three types of influencing factors: environmental factors, person-related factors and properties of the food. Jobbers (1995) identifies the concept of influences on consumer purchasing behavior among which he points out the level of purchase involvement as one of the factors that influences the consumer decisionmaking process.
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Referring to Kim (2005) who was investigating how product involvement and values interact with consumers, more current research examines consumer involvement under working assumptions that different types of product involvement trigger different behavior.
Furthermore Homer and Kahle 1988, cited by Goldsmith, Freidan and Henderson (1997) suggest that the influence of values may not be limited just to high- involvement areas, but may also be relevant to less involving product fields such as food. Besides the values, which influence both consumer attitudes and behaviour.
Schiffman and Kanuk (2004 p.256) acknowledge that formation of consumer attitudes is strongly influenced by personal experience, the influence of family and friends, direct marketing and mass media. Author will try to connect the current health concerns/obesity issues to above factors that have direct impact on attitudes formation.
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CHAPTER 9 OBJECTIVE OF THE STUDY
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1. To know the preference towards branded Masala. 2. To know the most preferred brand of Masala. 3. To know the source of awareness for branded Masala. 4. To know the brand image of spices company. 5. To compare the major brands of Spices in terms of price, preference, quality, packaging and color.
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CHAPTER 10 HYPOTHESIS
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1st HYPOTHESIS
H0: H1: There is no impact of Advertisement on Purchase of Masala There is impact of Advertisement on Purchase of Masala
2nd HYPOTHESIS
H0: H1: There is no association between Packing quality and Preference There is association between Packing quality and Preference
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CHAPTER 11 RESEARCH METHODOLOGY
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RESEARCH DESIGN
The research design is the blue print of the study. It respondents the overall scheme of the study. “A research design is a logical and systematical planning and it helps directing a piece of research.” “Research design is the plan, structure and strategy of investigation conceived so as to obtain answers to research questions and to control variance.” Research design is in fact the conceptual structure within which the structure is conducted. Descriptive research design was taken for studying the consumer's behavior. Because this, research design is focused on accurate descriptive of the variable present in the problem. This study describes the phenomena under study. The data collected here relate to the demographic or the behavioral variables of the respondents under study. The research has got very specific objective, clear cut data requirements and uses a large sample which is drawn through a probability sampling design. The recommendations/findings in a descriptive research are definite.
SOURCES OF DATA
There are two types of data i.e. secondary and primary: Primary Data Collection:Primary data collection contains the following four types of methods: Observation Method: Survey Method: It contains Personal Interview, Telephone Interview and Mail Interview. Experimental Method. Panel Method.
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Secondary Data Collection: There are 2 types of secondary sources. Internal Source: Various internal sources like employee, books, sales activity, stock availability, product cost, etc. External Sources: Libraries, trade publications, literatures, etc are some important sources of external data. We have used primary data for the core purpose of the project. And this primary data has been gathered by survey method. We have also used secondary data for formation of other part of project such as industry profile, company profile and functional department etc.
DATA COLLECTION METHOD
Data collection involves a field force or staff that operates either in the field as in the case of personal interviewing, from an office by telephone, through mail, or electronically. Proper selection, training, supervision and evaluation of the field force help minimize data collection errors. Survey Method was taken for studying the consumer's behavior. A structured questionnaire given to a sample of a population and designed to elicit specific information from respondents. Structured here refers to the degree of standardization imposed on the data collection process. In structured data collection, a formal questionnaire is prepared and the questions are asked in a prearranged order; thus the process is also direct. The structured-direct survey, the most popular data collection method, involves administering a questionnaire.
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POPULATION
Population makes more sense than using a sample. One reason to take a population is to eliminate the possibility that by chance a randomly selected sample might not be representative of the population. Even when all the proper sampling techniques are implemented, a sample that is nonrepresentative of the population can be selected by chance. Second reason to take a population is that the client does not have an appreciation for random sampling and feel more comfortable with conducting a population. Both of these reasons are for taking a population is based on the assumptions that enough time and money are available to conduct such a population. Population is a target market from which researcher selects samples for research. Here, the population is the consumers of Varachha area of Surat who purchase Masala (Spices) and able to fill the questionnaire and support to do research and analysis. The target population is the collection of elements or objects that possess the information sought by the researchers and about which inferences are to be made. It must be defined precisely. Imprecise definition of the target population will result in research that is ineffective at best and misleading at worst.
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SAMPLING METHOD
The sampling method indicates how the sample units are selected. The most important decision in this regard is to determine which of the two; probability or non-probability samples are to be chosen.
A) Probability Sampling Method:Simple Random Sampling Systematic Sampling Stratified Sampling Cluster Sampling
B) Non-Probability Sampling Method:Convenience Sampling Judgement Sampling Quota Sampling Snowball Sampling Convenience Sampling was taken for studying the consumer's behavior. Convenience sampling, elements for the sample is selected for the convenience of the researcher. The researcher typically chooses elements that are readily available, nearby, or willing to participate. The sample tends to be less variable than the population because in many environments the extreme elements of the population are not readily available. The researcher will select more elements from the middle of the population.
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SAMPLING FRAME
Sampling Frame is a representation of the elements of the target population; it consists of a list or set of directions for identifying the target population. Every research study has a target population that consists of the individuals, institutions, or entities that are the object of investigation. The sample is taken from a population list map, directory, or other source used to represent the population. This list, map, or directory is called are frame. Ideally, a one-to-one correspondence exists between the frame units and the population units. In reality, the frame and the target population are often different. Frames are have over registration contain all the target population units plus some additional units. Frames that have under registration contain fewer units than does the target population. Sampling is done from the frame, not the target population. In theory, the target population and the frame are the same. In reality, a researcher‟s goal is to minimize the differences between the frame and the target population.
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DATA COLLECTION INSTRUMENT
Questionnaire A questionnaire was prepared to test the sample. The consumers were approached individually as well as in small group by the researcher and answer were research in record book. The surveys consist of gathering data by interview is a limited no of people selected from a group. The focus group conducted to many parameters evolved on which the questionnaire was frame. This was later debugged with the help of role-play among the students to find out the loophole in the questionnaire and role-play also helped to carry out the research effectively and efficiently. Finally the questionnaire was approved by the organization and survey was conducted to collect the data. The research instruments is the tool by which the researcher can do research on specific problem or objective. Here from collecting primary data structurednon-disguised questionnaire is taken for research as research instrument there is two types of question are as:
Q 1) Do you cook regularly?
Frequency Yes No Total 97 3 100 Percent 97.0 3.0 100.0
(Table No.: – 12.1)
Do you Cook regularly?
97
3
yes
no
(Graph No.:– 12.1)
INTERPRETATION:
As a Result most of the Respondents cook regularly.
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Q 2) If yes, do you use Masala in cooking?
Frequency Yes No Total 97 3 100
Percent 97.0 3.0 100.0
(Table No.: – 12.2)
Do you Masala in Cooking?
97
3
yes (Graph No.:– 12.2)
no
INTERPRETATION:
Majority of the Respondents are using Masala in coking.
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Q 3) If yes, do you prefer branded Masala or local Masala?
Frequency Branded Local Total System Total 92 5 97 3 100
Percent 92.0 5.0 97.0 3.0 100.0
(Table No.: – 12.3)
Preferd Branded Masala or Local Masala?
92
5
Branded
Local
(Graph No.:– 12.3)
INTERPRETATION:
Those who used Masala in cooking among them majority are using Branded Masala in cooking.
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Q 4) If Branded, how did you come to know about Spices companies? Awareness about various Forms of Spices company.(Out of 92) Through stores From family or friends Broachers TV Campaign Through websites Radio Newspapers Others Total
(Table No.: – 12.4)
Various forms of awareness about spices company
32 17 17 8 7 4 6 1
(Graph No.:– 12.4)
INTERPRETATION:
As a result, majority of the people are aware through family or friends and some of are aware through stores and Broachers.
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Q 5) According to your preference of brand rank the following spices Companies
Spices company (Out of 92) Dhanhar Badshah SK Ramdev MDH Everest Total
Most preferred
Frequency 86 3 1 1 1 92 Percent 93.48 3.25 1.09 1.09 1.09 100
Less preferred
Frequency 2 45 8 22 12 3 92 Percent 2.17 48.91 8.70 23.91 13.05 3.26 100
Least preferred
Frequency 5 40 8 29 10 92 Percent 5.43 43.48 8.70 31.52 10.87 100
(Table No.: – 12.5)
Rank according to preference of brand
Most Preferred 86 Less Preferred Least Preferred
45
40 22 29 8 12 1 MDH 1 3 10
2 0 Dhanhar
3
5
0
8
1
Badshah
SK
Ramdev
Everest
(Graph No.:– 12.5)
INTERPRETATION:
As a Result Majority of the people prefers Dhanhar Masala and very few prefer Everest Masala.
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Q 6) Rank the Spices companies according to their Quality.
Spices company (Out of 92) Dhanhar Badshah SK Ramdev MDH Everest Total
Most preferred
Frequency 77 2 4 2 4 3 92 Percent 83.71 2.17 4.34 2.17 4.34 3.27 100
Less preferred
Frequency 9 31 15 8 23 6 92 Percent 9.78 33.70 16.30 8.70 25.00 6.52 100
Least preferred
Frequency 2 19 28 22 15 6 92 Percent 2.17 20.65 30.44 23.92 16.30 6.52 100
(Table No.: – 12.6)
Rank spices company according to quality
Most Preferred 77 Less Preferred Least Preferred
31 19 9 2 2 Badshah 4 SK 15
28 8
22 2 4
23 15 3 6 6 MDH Everest
Dhanhar (Graph No.:– 12.6)
Ramdev
INTERPRETATION:
On the basis of the above results Dhanhar Masala has good Quality and Everest has not that much good quality.
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Q 7) Which Spices company has good Packing Quality?
Spices company(Out of 92) Dhanhar Masala Badshah Masala SK Masala Ramdev Masala MDH Masala Everest Masala Total
(Table No.: – 12.7)
Frequency 58 18 5 4 4 3 92
Percent 63.04 19.57 5.43 4.35 4.35 3.26 100
Good Packing Quality
58
18 5 4 4 3
Dhanhar Masala
Badshah SK Masala Masala
Ramdev Masala
MDH Masala
Everest Masala
(Graph No.:– 12.7)
INTERPRETATION:
As a result Dhanhar has good packing quality and Everest has not that must good packing quality .
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Q 8) The Color of which Spices companies’ customer like the most.
Spices company(Out of 92) Dhanhar Masala Badshah Masala SK Masala Ramdev Masala MDH Masala Everest Masala Total
(Table No.: – 12.8)
Frequency 42 18 10 8 8 6 92
Percent 45.64 19.57 10.87 8.70 8.70 6.52 100
Color of spices like the most
42
18 10 8 8 6
Dhanhar Masala
Badshah SK Masala Masala
Ramdev Masala
MDH Masala
Everest Masala
(Graph No.:– 12.8)
INTERPRETATION:
As an above result Color of Dhanhar Masala is like the most b many of the peoples and Color of Everest Masala is dislike by many peoples.
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Q 9) Spices of which company is always quickly available in the market
Spices company(Out of 92) Dhanhar Masala Badshah Masala SK Masala Ramdev Masala MDH Masala Everest Masala Total
(Table No.: – 12.9)
Frequency 47 18 12 6 4 5 92
Percent 51.09 19.57 13.04 6.52 4.35 5.43 100
Quickly available spice in market
47
18 12 6 4 5
Dhanhar Masala
Badshah Masala
SK Masala
Ramdev Masala
MDH Masala
Everest Masala
(Graph No.:– 12.9)
INTERPRETATION:
Dhanhar Masala is Quickly Available in the market as compare to other Masala and MDH Masala is not quickly available in the market.
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Q 10) According to Quality & Market Image the Price of which Spices Company do you agree with
Spices company(Out of 92) Dhanhar Masala Badshah Masala SK Masala Ramdev Masala MDH Masala Everest Masala Total
(Table No.: – 12.10)
Frequency 47 17 9 5 7 7 92
Percent 51.09 18.48 9.78 5.43 7.61 7.61 100
According to quality & Image price of spice
47
17 9 5 7 7
Dhanhar Masala
Badshah SK Masala Masala
Ramdev Masala
MDH Masala
Everest Masala
(Graph No.:– 12.10)
INTERPRETATION:
As a Result Price of Dhanhar Masala is according to their quality and market image but price of Ramdev Masala is not according to their quality and market image
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Q 11) Which Spices company provides Home Delivery regularly?
Spices company(Out of 92) Dhanhar Masala Badshah Masala SK Masala Ramdev Masala MDH Masala Everest Masala Total
(Table No.: – 12.11)
Frequency 27 23 17 11 8 6 92
Percent 29.35 25.00 18.48 11.95 8.70 6.52 100
Home delivery
27 23 17 11 8 6
Dhanhar Masala
Badshah Masala
SK Masala
Ramdev Masala
MDH Masala
Everest Masala
(Graph No.:– 12.11)
INTERPRETATION:
Dhanhar is providing home delivery regularly whereas Everest Masala is not providing home delivery regularly.
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Q 12) The activities of which Spices company companies attract you for Increasing their Purchase
Spices company(Out of 92) Dhanhar Masala Badshah Masala SK Masala Ramdev Masala MDH Masala Everest Masala Total
(Table No.: – 12.12)
Frequency 44 25 6 7 5 5 92
Percent 47.83 27.18 6.52 7.61 5.43 5.43 100
Activities that Increase the purchase
44
25
6
7
5
5
Dhanhar Masala
Badshah Masala
SK Masala
Ramdev Masala
MDH Masala
Everest Masala
(Graph No.:– 12.12)
INTERPRETATION:
Most of the peoples are attracting by Activities of Dhanhar Masala and peoples are not attracting by activities of MDH and Everest Masala.
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Q 13) Rank the Spices companies on the basis of brand.
Spices company (Out of 92) Dhanhar Badshah SK Ramdev MDH Everest Total
Most preferred
Frequency 61 5 7 10 6 3 92 Percent 66.30 5.43 7.61 10.87 6.52 3.26 100
Less preferred
Frequency 14 37 14 16 9 2 92 Percent 15.22 40.22 15.22 17.39 9.78 2.17 100
Least preferred
Frequency 12 17 23 19 13 8 92 Percent 13.04 18.48 25.00 20.65 14.13 8.70 100
(Table No.: – 12.13)
Rank spices company on the basis of brand
Most Preferred 61 Less Preferred Least Preferred
37 23 14 12 5 17 7 14 16 10 19 6 9 13 3 2 MDH 8
Dhanhar
Badshah
SK
Randev
Everest
(Graph No.:– 12.13)
INTERPRETATION:
According to brand, Dhanhar Masala is most preferable brand and Everest is Least Preferred Brand in varachha area in Surat.
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Q 14) The Advertisement of which Spices companies attracts you
Spices company(Out of 92) Dhanhar Masala Badshah Masala SK Masala Ramdev Masala MDH Masala Everest Masala Total
(Table No.: – 12.14)
Frequency 8 32 3 9 16 24 92
Percent 8.7 34.8 3.3 9.8 17.4 26.1 100
Advertishment of spice company attract most
32 24 16 8 3 9
Dhanhar Masala
Badshah SK Masala Masala
Ramdev Masala
MDH Masala
Everest Masala
(Graph No.:– 12.14)
INTERPRETATION:
As a Result Advertisements of Badshah is like the most by many peoples and advertisements of SK is dislike by peoples.
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Q 15) What is the image of brand in your mind?
Spices company Dhanhar Ramdev Badshah MDH SK Everest Total
Value for money 15 17 22 18 12 8 92
Superior quality 15 20 26 19 11 1 92
Consistency 19 14 18 20 11 10 92
Healthiness 17 24 11 27 9 4 92
Price Discount 6 13 7 6 41 19 92
Taste 20 4 8 2 8 50 92
(Table No.: – 12.15)
60 50 40 30 20 10 0 Dhanhar Ramdev Badshah MDH SK Everest
(Graph No.:– 12.15)
INTERPRETATION:
Dhanhar is well known for Taste, Ramdev is well known for healthiness and Badshah is well known for superior quality.
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HYPOTHESIS TESTING
1st HYPOTHESIS H0: H1: There is no impact of Advertisement on Purchase of Masala There is impact of Advertisement on Purchase of Masala
For solving this hypothesis we used CHI-SQUARE Test as below:
Chi-Square Tests Value a df
Asymp. Sig. (2-sided)
Pearson Chi-Square
Likelihood Ratio Linear-by-Linear Association N of Valid Cases
28.760
25 25 1
.274
.236 .585
29.700 .297
92
a. 31 cells (86.1%) have expected count less than 5. The minimum expected count is .16.
(Table No.: – 12.16)
INTERPRETATION:
On the basis of Chi-square test‟s output H0 is accepted and H1 is rejected because Pearson chi-square is more than 0.05 that is 0.275.
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2nd HYPOTHESIS
H0: H1:
There is no association between Packing quality and Preference There is association between Packing quality and Preference
For solving this hypothesis we were used Kruskal-Wallis Test as below:
Test Statistics Preference of brand Dhanhar Masala Chi-Square df 1.156 5 Badshah Masala .437 5 SK Masala 1.834 3
a,b
Ramdev Masala 8.858 3
MDH Masala 7.878 5
Everest Masala 3.955 5
Asymp. Sig.
.949
.994
.608
.031
.163
.556
(Table No.: – 12.17)
INTERPRETATION:
On the basis of Kruskal Wallis Test‟s output H0 is accepted for Dhanhar, Badshah, SK, MDH, and Everest Masalas and H1 is rejected for Ramdev Masala because Sig. for Dhanhar, Badshah, SK, MDH, Everest are respectively 0.949, 0.994, 0.608, 0.163, 0.556 which is more than 0.05 and Sig. for Ramdev is less than 0.05 that is 0.031.
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CROSSTABULATION
ADVERTISEMENT * AGE CROSSTABULATION AGE 15 TO 25 ADVERTISEMENT DHANHAR MASALA BADSHAH MASALA SK MASALA RAMDEV MASALA MDH MASALA EVEREST MASALA TOTAL
(Table No.: – 12.18)
26 TO 35 4
36 TO 45 0
46 TO 56 1
TOTAL 8
3
11
8
8
5
32
3 2
0 3
0 1
0 3
3 9
3 8
7 10
4 2
2 4
16 24
30
32
15
15
92
127
CHAPTER 13 FINDINGS
128
According to preference of brand about 86 peoples (93%) rank Dhanhar Masala as most preferred brand in varachha area in Surat. About 77 peoples (84%) rank Dhanhar Masala as far as quality is concerned. Most of the peoples aware about branded Masala through stores, Broachers and through family & friends. Dhanhar Masala has good packing quality in comparisons with other spices company. Color of Dhanhar Masala is like the most by 45 % peoples. If we saw the availability of Masala product, than Dhanhar products are quickly available in the market. Price of Dhanhar Masala is far because Dhanhar Exim Pvt Ltd. Is charging their price according to quality they providing and current market images. In this study there is no impact of advertisement on purchase. There is association between only Ramdev Masala Packing Quality and Preference and there is no association between Dhanhar, SK, MDH, Badshah, Everest Masalas Packing Quality and Preference
129
CHAPTER 14 SUGGESTIONS
130
Dhanhar has more than 90% market share in varachha area so Dhanhar has to focus how to maintain current market share. It is noted that company is working in south zone of Gujarat so it is recommended that company should male selling other than south zone because of grate response from south zone customers. Due to good packing quality of any product it is recommended that Dhanhar should develop something new in packaging which will attracts more and more customers in the futures. It is also recommended that Dhanhar should maintain their spice color which is main source of customer attraction. Dhanhar has also good distribution channel noted by Dhanhar Masala availability in market so it is recommended that Dhanhar has to do some innovation or some activity for distributors to maintain products availability in the market. It is also recommended that Dhanhar has to maintain quality and taste of Masala. Dhanhar is not doing proper Advertisement so it is recommended that Dhanhar should advertise in effective manner,
131
CHAPTER 15 LIMITATIONS
132
For carry out any research there is a need of lot of time but here, it is for academic purpose so time is limited. It is one of the constraints. The Samples are from varachha area in Surat only. Hence, the results cannot be generalized. Here, the Sample Size is Very Small; it should be Big to Measure Customer Behavior in a more precise way. The chance of biased response can‟t be eliminated though all necessary steps were taken to avoid the same.
133
CHAPTER 16 LEARNING
134
We learned the working of a company, its structure, decision making authority and how they implement the policies and strategies. We learned how we can follow up the consumer and make them loyal to us. We come to know about the specification of different variants of product. We learned how to deal with consumer by using my relation building skill and communication skill. We come to know about the behavior of consumer towards Dhanhar Masala.
135
CHAPTER 17 CONCLUSIONS
136
From whole research it is concluded that customer‟s behaviors towards Dhanhar Masala is positive. Most of the people are using branded Masala in regular cooking. Dhanhar is most preferred branded Masala in varachha area in Surat city. Most of the people aware about branded Masala from family and friends (references) another source of awareness is through stores and broachers. In varachha area of Surat city brand image of Dhanhar, Badshah, and Ramdev are high in comparisons with other brands. Dhanhar is well known for their Taste.
137
CHAPTER 18 REFERENCES
138
Malhotra, N K (2007), „Marketing Research: An Applied Orientation‟, Delhi: Pearson Education, Fifth Edition. Bhattacharya, D K (2009), „Research Methodology, New Delhi: Excel Book, Fourth Edition. Philip Kotler and Kevin Keller (2011), „Marketing Management, Delhi: Pearson Education, Thirteen Editions. Durai P, Human Resources Management, Delhi, Pearson education. Black K, Quantitative Techniques, Wiley publication http://www.dhanharmasalas.com/contact-us.html accessed on 25.6.2012 http://www.dhanharmasalas.com/company-profile.htm accessed on 05.7.2012 http://scialert.net/abstract/?doi=pjn.2009.660.667 accessed on 25.7.2012
139
ANNEXURE
140
Questionnaire
Dear Respondent, We are (Rahul Paghdal & Mehul Valengar) studying in M.B.A. at R. B. Institute of Management Studies, Ahmadabad this survey is conducted in order to know about the CONSUMER BEHAVIOUR TOWARDS MASALA IN VARACHHA AREA IN SURAT. We would be grateful if you give your honest and true opinion. NOTE: Your opinion would be handled as private and confidential and would be used only for academic purposes Note: - According to your opinion please tick the following. 1. Do you cook regularly? Yes [ ] ] No No [ [ ] ]
2. If yes, do you use Masala in cooking? Yes[
3. If yes, do you prefer branded Masala or local Masala? Branded [ ] Local
[
]
4. If Branded, how did you come to know about Spices companies? Through stores [ ] Through websites [ From family or friends [ ] Radio [ Broachers [ ] Newspapers [ TV Campaign [ ] Others [
] ] ] ]
According to your opinion please Rank most 3 preferred brands where is 1 is most preferred, 2-less preferred and 3 – least preferred 5. According to your preference of brand rank the following spices companies. (A) Dhanhar Masala [ ] (D) Ramdev Masala [ ] (B) Badshah Masala [ ] (E) MDH Masala [ ] (C) SK Masala [ ] (F) Everest Masala [ ]
141
According to your opinion please Rank most 3 preferred brands where is 1 is most preferred, 2- less preferred and 3 – least preferred 6. Rank the Spices companies according to their Quality. (A) Dhanhar Masala [ ] (D) Ramdev Masala [ ] (B) Badshah Masala [ ] (E) MDH Masala [ ] (C) SK Masala [ ] (F) Everest Masala [ ] 7. Which Spices company has good Packing Quality? (A) Dhanhar Masala [ ] (D) Ramdev Masala [ (B) Badshah Masala [ ] (E) MDH Masala [ (C) SK Masala [ ] (F) Everest Masala [ 8. The Color of which Spices companies‟ customer like the most. (A) Dhanhar Masala [ ] (D) Ramdev Masala [ (B) Badshah Masala [ ] (E) MDH Masala [ (C) SK Masala [ ] (F) Everest Masala [
] ] ]
] ] ]
9. Spices of which company is always quickly available in the market. (A) Dhanhar Masala [ ] (D) Ramdev Masala [ ] (B) Badshah Masala [ ] (E) MDH Masala [ ] (C) SK Masala [ ] (F) Everest Masala [ ] 10. According to Quality & Market Image the Price of which Spices company do you agree with. (A) Dhanhar Masala [ ] (D) Ramdev Masala [ (B) Badshah Masala [ ] (E) MDH Masala [ (C) SK Masala [ ] (F) Everest Masala [ 11. Which Spices company provides Home Delivery regularly? (A) Dhanhar Masala [ ] (D) Ramdev Masala [ (B) Badshah Masala [ ] (E) MDH Masala [ (C) SK Masala [ ] (F) Everest Masala [ 12. The activities of which Spices company companies attract you for increasing their Purchase. (A) Dhanhar Masala [ ] (D) Ramdev Masala [ (B) Badshah Masala [ ] (E) MDH Masala [ (C) SK Masala [ ] (F) Everest Masala [
] ] ]
] ] ]
] ] ]
142
According to your opinion please Rank most 3 preferred brands where is 1 is most preferred, 2- less preferred and 3 – least preferred 13. Rank the Spices companies on the basis of Brand. (A) Dhanhar Masala [ ] (D) Ramdev Masala [ ] (B) Badshah Masala [ ] (E) MDH Masala [ ] (C) SK Masala [ ] (F) Everest Masala [ ] 14. The Advertisement of which Spices companies attract you. (A) Dhanhar Masala [ ] (D) Ramdev Masala [ (B) Badshah Masala [ ] (E) MDH Masala [ (C) SK Masala [ ] (F) Everest Masala [
] ] ]
15. What is the image of brand in your mind?
Value for money Dhanhar Masala Ramdev Masala Badshah Masala MDH Masala SK Masala Everest Masala
Superior Consistency quality
Healthiness
Price Discount
Taste
Personal details:1. Name:2. Address:3. Gender:4. Age:Male 15 to 25 36 to 45 [ [ [ ] ] ] ] Female 26 to 35 46 to 56 [ [ [ ] ] ]
