A STUDY ON MARKETING STRATEGY

OF VEL INDUSTRIES PVT.LTD WITH

SPECIAL REFERENCE TO
PARAMAKUDI TOWN

TABLE OF CONTENT

 CHAPTER – 1
1. INTRODUCTION
 OBJECTIVES OF THE STUDY
 SCOPE OF THE STUDY
 LLIMITATIONS OF THE STUDY
 STATEMENT OF THE PROBLEM
 CHAPTER – 2
1. REVIEW OF LITERATURE
 CHAPTER – 3
1. COMPANY’S PROFILE & HISTORY
 GROWTH
 FUNDING
 ACQUISITIONS
 COMPETITORS
 ABOUT THE FOUNDER
 MISSION
 VISSION
 CHAPTER – 4
1. RESEARCH DESIGN
 RESEARCH METHOD
 SOURCE OF DATA
 DATA COLLECTION

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  SAMPLING
 SAMPLING SIZE
 CHAPTER – 5
1. DATA ANALYSIS & INTERPRETATION
 CHAPTER – 6
1. FINDING & SUGGESTION
2. CONCLUSION
3. REFERENCE
4. AUTHOR
 CHAPTER – 7
1. QUESTIONNARIE

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INTRODUCTION
Marketing strategy is a process that can allow an

organization to concentrate its resource on the optimal opportunities with the

goals of increasing sales and achieving a sustainable competitive advantage.

Marketing strategy includes all basic and long – term activities in the field of

marketing that deal with the analysis of the strategic initial situation of a company

and the formulation, evaluation and selection of market-oriented strategy and

therefore contribute to the goals of the company and its marketing objectives.

An organization’s strategy that combines all of its

marketing goals into one comprehensive plan. A good marketing strategy should

be drawn from market research and focus on the right product mix in order to

achieve the maximum profit potential and sustain the business. The marketing

strategy is the foundation of a marketing plan

Marketing strategy serve as the fundamental

underpinning of marketing plans designed to fill market needs and reach

marketing objectives . Plans and objectives are generally tested for measurable

results . Commonly, marketing strategies are developed as multi – year plans,

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with a tactical plan detailing specific actions to be accomplished in the current

year . Time horizons covered by the marketing plan vary by company , by

industry, and by nation, however, time horizons are becoming shorter as the

speed of change in the environment increases . Marketing strategies are dynamic

and interactive . They are partially planned and partially unplanned .

Marketing strategy involves careful scanning of the internal

and external environment factors include the marketing mix , plus performance

analysis and strategic constraints . External environment factors include customer

analysis , competitor analysis , target market analysis , as well as evaluation of

any elements of the technological ,economic, culture or political/legal

environment likely to impact success. A key component of marketing strategy is

often to keep marketing in line with a company’s overarching mission statement.

Beside SWOT analysis, portfolio analyses such as the GE/McKinsey matrix or COPE

analysis can be performed to determine the strategic focus.

Once a thorough environmental scan is complete, a strategic

plan can be constructed to identify business alternatives, establish challenging

goals, determine the optimal marketing mix to attain these goals, and detail

implementation. A final step in developing a marketing strategy is to create a plan

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to monitor progress and a set of contingencies if problems arise in the

implementation of the plan.

Marketing strategies may differ depending on the unique

situation of the individual business. However there are a number of ways of

categorizing some generic strategies. A brief description of the most common

categorizing scheme is presented blow

 Strategies based on market dominance

 Porter generic strategies

 Innovation strategies

 Growth strategies

Marketing participants often employ strategic model and tools to analysis

marketing decisions. When beginning a strategic analysis, the 3Cs can be

employed to get a broad understanding of the strategic environment. An Ansoff

matrix is also often used to convey an organization’s strategic positioning of thir

marketing mix. The 4Ps can then be utilized to form a marketing plan to pursure a

defined strategy.

There are many companies especially those in the

consumer package goods (CPG) market that adopt the theory of running their

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business centered on consumer, shopper & retailer needs . Their marketing

departments spend quality time looking for “ Growth Opportunities” in their

categories by identifying relevant insights on their target consumer, shopper and

retail partners . These Growth Opportunities emerge from changes in market

trends , segment dynamics changing and also internal brand or operational

business challenges. The Marketing team can then prioritize these growth

Opportunities and begin to develop strategies to exploit the opportunities that

could include new or adapted products ,service as well as changes to the 7Ps

Real – life marketing primarily revolves around of a great deal

of common sense; dealing with a limited number of factors , in an environment of

imperfect information and limited resources complicated by uncertainty and

tight timescale . Use of classical marketing techniques , in these circumstance , is

inevitably partial and uneven.

Thus for example , many new products will emerge from

irrational processes and the rational development process may be used to screen

out the worst Non – runners . The design of the advertising , and the

packaging ,will be the output of the creative minds employed ;which management

will the screen , often by ‘gut- reaction’ , to ensure that it is reasonable.

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 For most of their time , marketing managers use intuition

and experience to analyze and handle the complex , and unique, situation being

faced; without easy reference to theory. This will often be ‘flying by the seat of

the pants’ , or ‘gun-reaction’; where the overall strategy , coupled with the

knowledge of the customer which has been absorbed . This, almost by a process

of osmosis, will determine the quality of the marketing employed. This, almost

instinctive management , is what is sometimes called ‘coarse marketing’; to

distinguish it from the refined , aesthetically pleasing, form favored by the

theorists.

1.1 OBJECTIVES TO STUDY

Marketing objectives are goals set by a business when

promoting its products or services to potential consumers that should

be achieved within a given time frame. In other words, marketing

objectives are the marketing strategy set in order to achieve the overall

organizational objectives. A company’s marketing objectives for a

particular product might include increasing product awareness among

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targeted consumers, providing information about product features and

reducing consumer resistance to buying the product .

SMART Approach to Marketing Objectives

When setting objectives , it is very important to ensure that they are

specific , measurable, achievable, realistic and time – specific or SMART

for short. The SMART approach allows a supervisor to effectively

manage the marketing activities and be able to determine how

successful new objectives will be.

The SMART Approach can help achieve your marketing objectives by

asking the following questions:

 Specific

Are the objectives stated in a way that is precise about what you are hoping to

achieve ?

 Measurable

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Can you quantify each objective, i.e. can you use a unit of measure , such as a

market share in percentage or dollars, to provide a way to check level of success ?

 Achievable

Are your objectives reasonable in terms of what you can actually achieve , or are

you setting your sights too high ?

 Realistic

Do you have sufficient employees and resources to achieve the objectives you

have set ? If you don’t are they likely to be unrealistic ?

 Time –specific

When are you hoping to achieve these objectives ? you need to define a timing

plan by using target timing for each specific objective.

The project enables us to find out certain specific objectives like :

 How many consumer use VEL INDUSTRY Products ?

 How many consumer are aware about the pooja products ?

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  Which advertisement feature plays an important role in

influencing consumers ?

 Is the marketing strategy undertaken effective ?

 Does the product reflect brand value ?

 Are consumer satisfied with the after sales ?

 Is the VEL PRODUCTS ad effectives leaving a mark in consumer

minds ?

 Are merchandises a part of the marketing strategy ?

 Does the ad represent actual product profile?

1.2 SCOPE OF THE STUDY

 The study examine the marketing strategy towards the

retailers in Paramakudi town

 It also deals about prospectus and problem of markerter while

selling to retailer

 The research is done only For Paramakudi town . In future it

may be extended to whole district .

 To know the brand loyalty

 To know about which strategy type markerter prefer most.

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  To find out the reason for using specific strategy in specific

areas.

 To find out the profit range that markerter have.

1.3 LIMITATION OF THE STUDY

To carry out Research study the following limitation were faced during the

research study.

 The study is only covered in paramakudi town which does

not reflect to their cities .

 This research is covered within a short span of time.

 The research took only the company’s marketing team for

the survey for this present study.

 It was difficult For the marketing team to collect all the

information.

1.4 STATEMENT OF THE PROBLEM

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 Marketing is basically Addressing the consumer’s

needs more effectively and efficiently with better price ,

shopping access and delivery

 A good marketer constantly adapts to change and to

satisfy consumers need in a better way

 Not same marketing strategy used by every workers

 They have a different strategy to cover the retailer also a

customer

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 CHAPTER – 2

REVIEW OF LITERATURE

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2. REVIEW OF LITERATURE

Drucker (1973) “ strategic marketing as seen as a process consisting of analyzing

environmental , market competitive and business factors affecting the
corporation and its business units, identifying market opportunities and threats
and forecasting future trends in business areas of interest for the enterprise, and
participating in setting objectives and formulating corporate and business unit
strategies . selecting market target strategies for the product markets in each
business unit establishing marketing objectives as well as developing
implementing and managing the marketing program positioning strategies In
order to meet market target needs”.

Hart & stapleton (1977) “ A statement in very general terms of how the
marketing objective is to be achieved , e.g. acquiring a competitive company , by
price reductions , by product improvement, or by intensive advertising . the
strategy becomes the basis of the marketing plan”

Lambin (1977) “ The role of strategic marketing is to lead the firm toward
attractive economic opportunities , that is , opportunities that are adapted to its
resources and know how and offer a potential for growth and profitability “.

Baker(1984) “ The establishment of the goal or purpose of a strategic business

unit and the means by which it is to be achieved through management of the
marketing function”.

Cravens (1986) “Understanding the strategic situation confronting an

organization is an essential starting point of developing a marketing strategy “.

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Hamper & baugh (1990) “ although definitions for the term vary , we define
marketing strategy as a consistent , appropriate and feasible set of principles
through which a particular company hopes to achieve its long run customer and
profit objectives in a particular competitive environment”.

Aramario & lambin (1991) “ although marketing has basically an strategic

conception of the selling activity , we use to distinguish between strategic
marketing and operational marketing , depending on the long term or short term
objectives . strategic marketing starts in thoughts about current situation of the
company and situational analysis and possible evolution of the markets and the
envirnonment , with the goal of dedective opportunities which can establish
objectives”.

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