Professional Documents
Culture Documents
itself and has been nurtured by quality consciousness, passion for hard work and will to succeed. The organisational study was undertaken mainly to study the department functions of V-Guard Industries ltd. Established in the year 1977, from the vision of one man, Kochouseph Chittilappilly. V-Guard is nurtured by quality consciousness, passion for hard work and the will to succeed. V-Guards product range deals into various ranges of products which cater the requirements of consumer durable industry, agriculture and construction sectors of the country. V-Guard with its diversified products has a strong distribution and marketing channel in small towns across India, which helps in tapping the rural and the interior market. The growth of all the products which the company is dealing is closely linked to the economic development of the country. Our country is thriving to progress further and aims to convert her as a developed nation. To attain this objective, the development of all the core sectors like infrastructure, power, construction, automobiles, consumer durables, etc. is essential and this in turn is expected to augment the growth of the corporate sector of the country as a whole. As the economy is growing in a faster manner, the disposable income of the people are also increasing and most of the population is brought under the spectrum for spending for housing and white goods. Importantly, the
aspiration to own luxury goods is also seen increasing and this has resulted in a revolution for consumer durables. The company is confident of capitalizing all these factors and increasing its market presence across the country with focus on penetrating the rural markets. Importance is given to maintain the quality of the products and make improvements, wherever the same is required.
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technical know- how, plant machineries, raw materials. 3. To conduct swot analysis of the industry 4. To look after employees welfare.
1.3 METHODOLOGY
Research methodology is a systematic analysis of a problem and reach a conclusion. It may be understood as a science of studying how research is done scientifically. The study is done through collecting primary data and secondary data. 1. PRIMARY DATA Primary data are those data which are directly collected or which are the first hand data. Primary data are accurate and reliable. These datas are collected by interaction of staffs, consumers, interviewing managers. Primary data are collected by direct interview with department heads. 2. SECONDARY DATA Secondary data are those which have been collected by some other person for his purpose. They are usually in shape of finished products. Secondary data consist of catalogue, manuals, magazine, annual reports, and internets. Secondary data are collected by Annual reports of V guard industries ltd Periodical , books published by the company. Official websites of v guard
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1.6 LIMITATIONS
Limited time schedule for study Busy work schedules of the employees forced to depend on secondary data.
1.7 CHAPTERISATION The whole project is divided into following parts. They are:
Chapter 1- Introduction It includes objectives of the study, scope of the study. Methodology of data collection and limitations of the study. Chapter 2- Industry profile This chapter deals with profile of the industry. Chapter 3- Company profile Company profile include profile if the company, history of the firm and product profile. Chapter 4- Department study
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2.2GLOBAL SCENARIO
There is a sizeable potential market for voltage regulators in Asia, South America, Africa and the Middle East since their electrical generations and distribution infrastructure is still nascent. While fluctuation in supply voltage in the United States is about 5 percent, it is around 20 percent in Mexico and South America and 10 to 15 percent in developing nations of Asia. Such fluctuations are very damaging, especially because most applications connected to the supply have many electric components Countries that lack a basic national power infrastructure generate power for individual establishments on a small scale using crude facilities. Such plants, especially the ones located near mines and oil wells, have substantial need for voltage regulation .The drive to modernize industrial
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Mr. Jayaraj, the AGM, and others. A. major intention was to set apart his time for creative conceptualization of new projects. Moreover, it enabled him to get out of the monotony in mundane and routine operations for which his management team is l lore thorough than Chittilappilly himself. It was his desire to do something unconventional and different from his main stream of business activity. He used to spend his leisure time in going to amusement parks than going for shopping. A visit with his family to many such amusement parks in India and abroad created so much passion for starting an amusement park in Cochin. He said a man to his desire not because of the 18 acres of beautiful land he possessed at Kakannad, the suburb of Cochin, but because he wanted to be truly creative and unconventional
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manufacturing company was established in the year 1977 from the vision of one man KOCHOUSEPH CHITTILAPPILLY. It plays a vital role for the economic development of our country. Their untiring commitment for performance, cutting edge technology, innovative design , dependable service standards have lead to unrivalled product quality and trusted brand image. V GUARD S product range deals into various ranges of products which cater the requirements of consumer durable industry , agriculture and
construction sectors of the country. It has a strong distribution and marketing channel in small towns across India, which helps in tapping the rural and the interior market. V-Guard Industries Limited is an India-based company. The Company operates in three segments: electronics, which includes voltage stabilizers, uninterruptible power supply (UPS) and digital home UPS;
electrical/electro mechanical products, which includes polyvinyl chloride (PVC) insulated cables, pumps, water heaters, fans, LT power and control cables, and others, which includes solar water heaters, gas water heaters, water level controller and windmill energy. During the fiscal year ended March 31, 2010 (fiscal 2010), the Company produced 310,403,260 meters of PVC insulated cables; 2,888 kilometres of LT power and control cables; 18,000 solar water heaters, and 20,000 pumps. Kochi, 28th May 2010: The Board of Directors of V-Guard Industries Limited, the electronic and electrical major today considered and adopted the audited financial results Company for the year ended 31st March, 2010. Backed by a growth in the white goods and electronic and electrical segments, the Companys net profit surged by 46.85% to Rs.25.47 31st March, 2010, from Rs.17.35 Crore for the last year. Crore for the year ended
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manufactures and markets Electronic Voltage Stabilizers, Monobloc, Jet, Submersible, Compressor pumps and Electric Motors, Insulated Electrical Cables(House Wiring, Industrial), Electric Storage & Instant Water Heaters, Solar Water Heaters, UPS, Electric Fans and is also in generation of Power in a small way.
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Bankers, Chartered Financial Analyst and Certified Financial Planner, Financial Planning Standards Board India. He was inducted to the Board of Directors of V-Guard as an Independent Director on 16th August, 2007. Executive Director: Mr.Mithun Chittilappilly is a Post Graduate in Finance from University of Melbourne, Australia. Mr. Mithun after completing his Graduation in Commerce joined V-Guard to be trained in the various departments of the company. INDEPENDENT DIRECTORS Mr. C.J George
Aged 48 years, is a Post Graduate in Commerce, Certified Financial Planner and a Research Scholar with School of Management Studies of Cochin University of Science and Technology. He joined the company as an Independent Director on 16th August 2007. Mr. A.K Nair
Appointed as the Non Executive Director of the Company on 27th May 2009 Mr. A.K.Nair holds a Bachelors degree in Mechanical Engineering with Masters in Business Administration and has over 45 years of Industry experience.
3.8 COMMITIES
Audit Committee Remuneration Committee Share transfer/ Shareholders Grievance Committee IPO Committee
3.9 VISION
Let us endeavour to make v guard a trusted household name.
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ISO 9001 V guard ISO 9001 certified factory for manufacturing electrical wiring cables is
set up at Coimbatore, Tamil Nadu.
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Executive Director
Vps Marketing
CFO&VPFinance Director admin Secretarial Sr.VP Scm & Media VPcable/ solar VpEmd VpMed VpElectronic &New Projects
Marketing
South North
EMW Coimbatore
West
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V-Guard is the largest selling brand of electronic voltage stabilizers across India. 5 Millions Of customers were experienced the quality of protection of V-Guard stabilizers for their home appliances. Since 1977 onwards, V-Guard Stabilizer provides reliable and trusted protection from voltage fluctuations and used to safeguard the electronic home appliances like Television, DVD, and DTH Receiver, Music system, Home Theatre, Water cooler, Refrigerator, Deep Freezer,
Air conditioner and Microwave oven. V-Guard Stabilizers are designed with
significant features like HMC Technology, Fail Safe circuit protection, High and Low voltage Protections, Time Delay Protection and Built In Thermal Overload Protection. Cables
These are manufactured in conformity with ISI standards at an ISO 9001 certified manufacturing plant located at Coimbatore in Tamil Nadu. V-GUARD PVC wiring cables are manufactured in conformity with ISI standards at an ISO 9001 certified manufacturing plant located at Coimbatore in Tamil Nadu. The HFT technology used in their production ensures absolute safety from electrical
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V guard pumps are made according to ISI standards and specifications using high quality components and meet high performance standards. They are known for their sturdiness, durability and dependability. The superior
technology used in the construction ensures better efficiency and lower running costs. More than 150 different models are available with capacities ranging from 0.25 HP to 25 HP, and are ideal for domestic as well as for agricultural purposes.
Self Prime & Mini Monobloc Pumps Centrifugal Pumps Open well Submersible Pumps Jet Pumps Compressor Pumps Single phase bore well submersible pumps 3 Phase Bore well Submersible 3 Phase Centrifugal Monobloc 3 Phase Open well Submersible
UPS
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Incredibly Intelligent! The trusted companion for the computer, driven by high end features like advanced PWM MOSFET Technology with PID Control, Zero Power Drain Technology to prevent Deep Discharge of battery, OFFMODE battery charging and intelligent software shutdown to provide high quality in power management. Models available in OFFLINE UPS are:
UPS 60 Royal UPS 70 Vismaya Plus UPS 120 EB Online-UPS - Single Phase to Single Phase Online-UPS - Three Phase to Single Phase High frequency true online UPS
V-guard Electric Water Heaters (Geysers) are manufactured in the-state-of-the-art production set up and comes with ISI mark and Pentad Protection System (PPS). Its outer body is made of rust proof, shock proof ABS.
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Instant Water Heaters Instant Gas Water Heaters Storage Water Heaters
Solar water heaters were launched by the company in the year 2002. The manufacturing base of solar water heating systems has since been improved substantially with the total number of 49 manufactures securing Bureau of Indian Standards (BIS) certification for their products, V-Guard Solar Water Heaters, a truly International quality product manufactured at the use the highly efficient Evacuated Tube Collector system enabling optimal utilization of solar energy. The PUF insulated stainless steel storage tank prevents heat loss. V-Guard Solar Water Heaters dramatically cut electricity bills, help conserve energy and are environment friendly.
They are available in: 100 Lpd, 125 Lpd, 200 Lpd, 300 Lpd, 500 Lpd and 1000 Lpd
for domestic use, and are easy to install and last a life time. V-GUARD ETC solar water heaters are also manufactured for industrial applications that is for pool heating, large hotels, large hospitals, factories etc. and are available in 2000 Lpd,3000 Lpd,4000 Lpd and 5000 Lpd and also according to the requirements.
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V-GUARD fans are sleek and elegant, provide excellent air circulation. Double ball bearings ensure they keep whirling smoothly for years. The hub and blades have a powder coated finish and rust resistant. HIGH ANGLE Technology used in blade design ensures wider coverage. The fans are available in a range of colours to suit the interior dcor. CW 1548 CW 2048 M CW 3348 CW 3124 M SF 4048 M SF 6148 M SF 7048 M
4.1DEPARTMENT PROFILE
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9. Systems department
Head of department
Manager
Zonal Inchargers
Branch in charger
Service in charge
Levels of Service
i. Customer satisfaction It is ensured that all the complaints are solved within 24 hours of receiving the complaint. Employees are assigned to visit the customers spot for solving issues that might have occurred while using the product and even replacing the product if required. The service charges are collected as per the approved manual ii. Customer care As per the company policies, all the details regarding the service terms , warranty details , service charges etc are to be displayed in front of the service centre. After the service has been done , feedback from the customers is collected . this improves them in correcting their flaws in the service provided and to serve them better. Feedback regarding the quality of the products, after sales service etc is collected by visiting the dealers dealing with their products. iii. Customer delight
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office in the state through this number Register the complaints through mail The customer can also register their complaints through mail.
factories. The quality controller approves the components that are being used in the outsourced factories. They provide such works to charitable institutions like Cherupushpa electronics, Sengo Pauls systems .They produce 1.5lakh stabilizer a month. V guard has about 62 factories in all over India. Department chart Electronics And new product
Senior manager
p Production Department
Product Development
Product Engineering
CARC
MRP
New projects
Production:
The production dept is in charge of looking into the production patterns and the processes that is to be followed in all the factories. They make sure that the patterns and products are uniform and according to the requirements
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Product engineering:
Product engineering department product standardizes the process that is supposed to follow and the work that is to be done in the factories. The processes that are formed at the head office are given to the quality controllers that are appointed at the various factories. They ensure that the processes are followed as per the orders from the head office.
New projects
This department concentrates mainly on new and innovative ideas. They initiate new concepts and if found feasible, hands over it the production department foe making into reality. Home ups was such one product which was conceptualized couple of years back and is now one of their top selling product.
Head of Department
Deputy
h Manager
Senior Engineer
4. FINANCE DEPARTMENT
Business as we know is concerned with the financial activities. In order to ascertain the financial status of the business every enterprise prepares certain
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Head accounts
Secretarial
Inventory management
Internal audit
Costing
RATIO ANALYSIS
CURRENT RATIO Current ratio may be defined as the relationship between current assets and current liabilities. This ratio, also known as working capital ratio, is a measure of general liquidity and is most widely used to make the analysis of a short term financial position or liquidity of a firm. It is calculated by dividing the total of current assets by total of current liabilities.
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Current Ratio
2.5 2 1.5
current ratio
1 0.5 0 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010
As a convention the minimum of 2:1 is referred to as a rule of thumb or arbitrary standard of liquidity for a firm. A ratio equal to or near the rule of thumb is considered to be satisfactory.
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Profit
Ne
16 14 12 10 8 6 4 2 0 2005-2006 2006-2007
Deputy GM
Senior officer
Officer
Senior executive
Executive
HR policy
The basic principles of V-Guard human resource policies include:
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The HR practices
Most of the HR practices of V-Guard industries were a result of the vision of its founder and the culture that they have been created over the years. The founder advocated simplicity and maintained the culture of a small company and the employees were encouraged to share their learning experiences too.
Recruitment
V-Guard's greatest asset is its employees. It is committed to attracting, retaining, and developing the highest quality and most dedicated work force possible in today's market. It strives to hire and promote people on the basis of their qualifications, performance, and abilities, and is determined to provide a work environment free of any form of discrimination both direct and indirect, including sexual harassments. While recruiting new employees V-Guard takes adequate care to identify the right candidates guard focus on recruiting candidates who display a high degree of learn ability, i.e. candidates who are open to learn new things and supply the same in new situations we also place significant importance on professional competence, academic excellence, analytical ability, term work, leadership potential, communication and innovative skills, along with a practical and structured to problem solving.
Training
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Training plan
Companies success in today's free market economy, only because their employees perform to their fullest potential .alive to this home trust, V-Guard draws up on annual training calendar highlighting the training activities for the year It also includes detailed discussions with the faculty to decide on the contest of the training programs guard's training plan includes technical/functional programs (mechanical, electrical, finance related and behavioural programs etc) ,covering a wide cross-selection of employees, as follows: A week long induction program for freshers: Development of top performer through leadership development programs aimed at bringing up future leaders Development of managerial staff through intensive management development programs tailor made for them providing exposure to holistic understanding of the business, strategic planning, customer relationship, enhancing share holder value, and financial management. Sustained effort in training has led to creation of highly skilled and motivational employees ready to take on higher roles and responsibilities in the company.
Performance appraisal
The first step towards carrying out performance appraisal at V-Guard is the evaluation of personal skills for the tasks assigned to an employee during the period of appraisal .To evaluate the performance ,different criteria like timeliness ,quality of work carried out by the employee, customer satisfaction .peer
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Culture
At V-guard ,we have built a culture in tandem with the vision and values of the organization that makes v guard ,a great place to perform where members take pride in being a part of the V-Guard family, are intellectually and emotionally bound with the organization, feel passionately about their goals and are committed towards the organization's vision and values .complete ownership of the vision and values ensures alignment of member's personal vision with organization's vision, thereby achieving focus in all the endeavours.
Company Policy
All selected candidates are initially placed on probation for a period of 6 months On completion of probation period and upon recommendation by the head of the department, the employee shall be absorbed and confirmed onto the
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Non-Statutory Benefits
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Reimbursement of travelling expenses Leave travel allowance Medical reimbursement Personal accident insurance and medi claim insurance Performance linked bonus Reimbursement of telephone/mobile rent Incentives to personnel Group saving linked performance Benevolent fund Expenses for purchase of suitcase Concessional loan
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Types of Leave
Casual Leave Sick Leave Annual Leave Marriage leave Transfer leave Maternity leave
Salary components
Basic pay Dearness allowance House rent allowance Conveyance allowance . Compensatory allowance
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Unique HR practices
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This is our employer engagement programme which we have started in this financial year. The session is conducted, by inviting employees department wise on a rotational basis every Saturday in the afternoon, for a period of one hour. Two representatives from the HR department and a person representing the top management would present in all the meetings. The program starts with a small introduction followed by an open session where employees will be free to give their suggestions and speak out their problems the open session is followed by games to promote team building and employees are encouraged to exhibit their skills many fruitful suggestions were received from the employee's sides which were implemented successfully.
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MARKETING DEPARTMENT
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In this, the products are available only through distributors. V-Guard has 36 distributors and 3248 dealers all over the country. The company provides their products to the retailers through the wholesalers. Stabilizers and cables are mainly distributed through this method.
ii) Direct dealer operations
In this, the products are made available to the consumers through authorized dealers. Products like fans and UPS are mainly distributed this way iii) Direct end user
In this, the products are distributed directly to the customers. There would be any intermediaries between the company and the customers. Products like online UPS, LT power cables and project coils are given directly to the customers.
Credit Policies
V-Guard extends credit policies when needed. Such services are mostly given to the old dealers who have been associated with the company for a long time. They allow such dealers to purchase products on credit. They also accept post dated cheques. Marketing strategies adopted i. Company--> Distributors -> Retailers -> Customers
In this strategy, the products are made available to the customers through distributors and retailers. The company provides the products to the distributors who provide them to the retailers at the price set by the company. Retailers provide the products to the customers as per their demand.
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ii.
In this, the products are marketed through direct marketing associations. Products like solar water heaters and digital UPS's are marketed this way. iii. Company--> Direct Dealers--> Customers
In this, the company markets their products among their customers only through authorized dealers all over the country.
Promotions
Every year a budget is set aside solely for advertising expenses. V-Guard gives a lot of importance in making their presence felt among the public and also making them aware of the various products that they have to offer. Some of the was in which they promote their products are: Electronic and print media Dealer meets, Plumber meets and Electricians meets. This is done for the purpose of product familiarity. Feedback is also collected at such events. Hoardings, lite and non- lite boards Acrylic boards Activities on radio station Exhibitions in campuses for products like online UPS s Exhibitions like Vanitha Ice, Vanitha Utsav, Paarpidam, and Thrissur Pooram Branding Dummy displays in showrooms Salesmen meet Offers and gifts during seasons eg. Towels gifted with water heaters Wall paintings e.g. Sabarimala routes
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Product strategy
V-Guard has different demand patterns for their products during the year. During the vacation time i.e. during April and May, the demand for air conditioners is high and so is the demand for stabilizers. From the month of November till May, the demand for pumps is high than during the other months of the year. In the months of June, July, November and December, the demand for water heaters is high. During the summer season the demand for freezers and coolers is high. During festival seasons like Onam and Christmas, demand for televisions is high.
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Senior manager
Chief Officer
Chief Officer
Deputy engineer
Assistant engineer
Engineers
Deputy Engineer
Assistant
Engineers
Chart 4.9 MECHANICAL ELECTRICAL DEPARTMENT This department consist of 50 employees which looks after the corporate planning and also by controlling its activities.
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GM
Senior Manager
Assistant manager
Executives
CHART NO: 4.10 SYSTEMS DEPARTMENT Employees working for companies like HCL and secure solutions are present in the organization .reports are collected from these companies on daily and monthly basis. Software development team present in the company handles the MIS activities. Updating format requirement etc are done by this team
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SCM chart
SCM
PRODUCT DIVISION
PURCHASE SUPPLY MATERIAL STORE SUPPLY DEVELOPMENT SUPPLIER FIXES PRICE SUPPLIER SELECTION PO FOLLOW UP TRANSPORTATION OWN GODOWN
INVENTORY &LOGISTICS
TRANSPORTATION
RENTED GODOWN
DISTRIBUTION DEALER
CUSTOMER
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Opportunities Threat High import duty on raw material imposed Chief imports from Singapore, China and other Asian countries In India the penetration level of white goods is lower as compared to other developing countries Unexploited rural market Rapid urbanization Increase in income levels i.e., increase in purchasing power of consumers Easy availability of finance
The Indian consumer remains one of the most upbeat globally. The Nielsen Global Consumer Confidence study, conducted by Nielsen, a market research company revealed that Indians are "the most optimistic lot globally who think that their country will be out of the economic recession in the next twelve months." In fact, it is widely believed that the Indian market will fuel the growth of
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Fig no: 5.2 PORTERS FIVE FORCES MODEL Porter's five forces include, three forces from 'horizontal' competition: Threat of substitute products, Threat of established rivals Threat of new entrants Bargaining power of suppliers Bargaining power of customers
THE THREAT OF THE ENTRY OF NEW COMPETITORS Profitable markets that yield high returns will attract new firms. This results in many new entrants, which eventually will decrease profitability for all firms in the industry. Unless the entry of new firms can be blocked by incumbents, the profit rate will fall towards zero (perfect competition).
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The existence of barriers to entry (patents, rights, etc.) The most attractive segment is one in which entry barriers are high and exit barriers are low. Few new firms can enter and non-performing firms can exit easily.
Economies of product differences Brand equity Switching costs or sunk costs Capital requirements Access to distribution Customer loyalty to established brands Absolute cost advantages Learning curve advantages
Expected retaliation by incumbents Government policies Industry profitability; the more profitable the industry the more attractive it will be to new competitors
THE INTENSITY OF COMPETITIVE RIVALRY For most industries, the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.
Sustainable competitive advantage through innovation Competition between online and offline companies; Level of advertising expense Powerful competitive strategy The visibility of proprietary items on the Web
Used by a company which can intensify competitive pressures on their rivals? How will competition react to a certain behavior by another firm? Competitive rivalry is likely to be based on dimensions such as price, quality, and innovation. Technological advances protect companies from competition. This applies to products and services. Companies that are successful with introducing new technology are able to charge higher prices and achieve higher profits, until competitors imitate them. Examples of recent technology advantage in have been
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Buyer propensity to substitute Relative price performance of substitute Buyer switching costs Perceived level of product differentiation Number of substitute products available in the market Ease of substitution. Information-based products are more prone to substitution, as online product can easily replace material product.
(THE BARGAINING POWER OF CUSTOMERS BUYERS) The bargaining power of customers is also described as the market of outputs: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
Buyer concentration to firm concentration ratio Degree of dependency upon existing channels of distribution Bargaining leverage, particularly in industries with high fixed costs Buyer volume Buyer switching costs relative to firm switching costs Buyer information availability Ability to backward integrate Availability of existing substitute products Buyer price sensitivity Differential advantage (uniqueness) of industry products RFM Analysis
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Supplier switching costs relative to firm switching costs Degree of differentiation of inputs Impact of inputs on cost or differentiation Presence of substitute inputs Supplier concentration to firm concentration ratio Employee solidarity (e.g. labour unions) Supplier competition - ability to forward vertically integrate and cut out the buyer
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THREATS OF SUBSTITUTES
Due to the substitutes there is a threat to the v guard industries and this may lead to decrease in sales which in turn lead to decrease in the profit. The important threat that v guard is now having is that, many companies are producing TVs, washing machine with inbuilt stabilizer. Other reasons are Current trend is, the use of natural product which is more healthy. Zone valve can be used instead of pumps.
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The company made public issue in the year 2008 Several energy conservation measures are undertaken by the company Continuous efforts are made by the R & D department for reducing the manufacturing costs. As a result of intensive R & D, the size of the products was reduced conveniently. Technology, which aids production, was imported in the year 2007 and 2009. Technology imported in 2007 was not fully absorbed. 39 % of the shares are held by the promoters of the company. The competition from the unorganized sector is severe. If the company is not able to manage competition then it will affect severe growth.
Improper coordination among the superiors and subordinates during certain situation. This leads to delay in certain orders, or the functioning of certain product development programmes.
Increase marketing strategies for the promotion of air conditioners. They adopt direct marketing strategy in order to increase sale and also provides after sales service. And also buy marketing their product only through authorised dealers they create a direct relationship with the customers. Customers help to create a brand image through mouth to mouth communication which intends to increase the sales of the product.
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6.3 SUGGESTIONS
1) As the production is fast increasing, the energy conservation measures should be further improved. 2) New and improved products, which suit the needs of the consumers to the best, should be developed. 3) R & D has been concentrating more on reducing the cost of production. It should also concentrate on improving the quality of the companys products. 4) Technology imported should wholly suit the companys production needs so that full absorption of the same is facilitated in future. 5) The company should increase its foreign exchange earnings. 6) At present, the FIIs are only less than a percent of the total shareholders. The company should popularize itself and the products to attract more FIIs. 7) The rural markets have not been covered yet. The company should take necessary steps for the same. 8) The companys product should be made more competitive than the unorganized sector to meet with the competition. 9) The company should take necessary steps to control the effect of continuous price fluctuation of raw materials. 10) Stock of raw materials, especially copper, should be adequately maintained to avoid price fluctuations.
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