ASSIGNMENT No 6

MONITORING EVALUATION & COST MANAGEMENT

SUBMITTED BY Qasim ( 11343) FACULTY OF MANAGEMENT SCIENCES IQRA UNIVERSITY ISLAMABAD

SUBMITTED TO : MR EMAD UD DIN MALIK

TABLE OF CONTENTS

Vision Statement of GRAYS:

GRAYS is the internationals First Choice and we continuously strive to maintain this edge through building a sustainable relationship with them all over the globe by establishing and maintain strong production and marketing network with a team of adroit, enchanting and skilful craftsmen and experienced professionals. We aim the best of our customers satisfaction. We also aim at a sustainable growth to ensure our companys prosperous future & healthy returns to all our stakeholders.

Mission Statement of GRAYS:

To endeavour consistently to be a dynamic, profitable and growth oriented company through excellence in all spheres of business activities optimizing value for our associates and shareholders. To seek a high standard of performance and to strive for a long-term leadership position through operating efficiency and dedicated service to customers in competitive environment. To be an exemplary corporate citizen maintaining high morale standards and fulfilling its social responsibilities. GRAYS firmly believes in behavioural conformance. To create further opportunities for employees at all levels so that they become a real team of dedicated workers and professionals who are rewarded according to their ability and performance; honesty, integrity and talent are the only pre-requisites.

GRAYS history:
GRAYS of Cambridge (Pakistan) limited was incorporated in Pakistan on June 02,1964 to incarnate a strong yearn of Late Anwar Khawaja, the first managing Director of the company, of making the WORLDSS BEST hockey stick in collaboration with H.J. GRAY and Sons of Cambridge, England, under an agreement signed in 1963. The formal inauguration was held at May 08, 1965 but the commercial production was started on April 01, 1965 under the supervision of English technician Mr. D. Fosket who
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actually made the hockey sticks from his hands for more than half a century. His supervision turned the Pakistani workers in skilful workers. During 1983 GRAYS Pakistan was achieving the target of around 90,000 hockey sticks in a year. The management acquired technical know how from Mr. Toon Coolen and started making a hockey stick with U shaped head which was approved by the Rules committee of International Hockey Federation. 17,590 sticks produced and exported during 1965 have now crossed up till the mark of 150,000 hockey sticks produced and exported. In 1973 there was an expansion made in the product line of the company. A cricket ball manufacturing unit was established to produce balls with the worlds most famous brand name DUKE & SONS and GRAY-NICOLLS. This unit has shown a tremendous growth and there are many evidences of its success as the balls produces here are used in the first class cricket and in test cricket in Pakistan as well as abroad. The production of balls has grown from few thousands in the first year to forty thousand a year at present.

Market Share for GRAYS:

GRAYS Pakistan is involved in the manufacturing of the worlds top brands like of GRAYS and TK. As this both top brands are the customers of GRAYS Pakistan then this makes them a company which is holding a greater market share as compare to other companies who are also its competitors. Right now as per the calculations of the GRAYS International, England, they are holding almost 48%* over all market share. This is a very high number in the current world of tough competition. The competitors of GRAYS Pakistan right now are Awan Sports, Ali Trading, Malik Sports and Ihsan Sports. GRAYS Pakistan is maintaining its market share and still growing in great manner. The reason for maintaining such a great market share among this kind of competition is due to the manufacturer of two big brands of the world hockey which are GRAYS and TK. These two brands manufacture their hockeys from GRAYS Pakistan which make GRAYS Pakistan a leading manufacturer among others.

Profitability of GRAYS:
Now we will be moving on to the profitability of GRAYS Pakistan by which GRAYS Pakistan is earning its profits. This is a very heavy calculation which is done by having two this. One is Total Profit and other one is Sales. Now by dividing Profit by Sales we will be getting the total profitability of GRAYS Pakistan by which GRAYS Pakistan is earning profit for last 5 years.

Sales: 2001 = Rs. 134,734,000 2002 = Rs. 142,228,000 2003 = Rs. 120,437,000 2004 = Rs. 126,870,000 2005 = Rs. 117,987,000 Profits: 2001 = Rs. 57,397,000 2002 = Rs. 42,484,000 2003 = Rs. 32,893,000 2004 = Rs. 53,439,000 2005 = Rs. 21,669,000 Profitability: 2001 = 134,734,000 / 57,397,000 * 100 = 42.6% 2002 = 142,228,000 / 42,484,000 * 100 = 30% 2003 = 120,437,000 / 32,893,000 * 100 = 27% 2004 = 126,870,000 / 53,439,000 * 100 = 42% 2005 = 117,987,000 / 21,669,000 * 100 = 45% In the above we have calculated the profitability for GRAYS Pakistan. As we can see very clearly that the profitability was very high in the year 2001 which was 42.6% and it has gone down for the year 2002 by 12.6% and in 2003 its again down by 3%. But after that the profitability for GRAYS Pakistan has not gone down up to the date. For the year 2004 it has risen up to 15% and reached up to the pint of 42%. In the year 2005 the profitability has reached the mark of 45% which is a remarkable achievement for GRAYS Pakistan after a very down going profitability in the years of 2002 and 2003.

Reasons for changes in Profitability:

As we have seen that the profitability is not constant for the last 5 years. As it was decreasing in the start and now it has start increasing again. The reason for the decreasing trend of profitability was due to the change in the trends of customers as there was a change in the wooden hockey which brought the composite hockey in the market. As the GRAYS Pakistan did nor adopt the new technology in time which cost them a great decrease in the profitability ratio for nearly 2 years. Now GRAYS Pakistan is getting the new technology which has put them back on track for earning the same profitability as they were earning before.

GRAYS performance:
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GRAYS Pakistan over all performance is excellent among other companies which are performing in the same conditions. But to have a complete look into its working we will be doing some marketing audits which will ensure the correct performance of GRAYS Pakistan. The marketing audits which we will be conducting are Marketing Environment Audit Marketing Strategy Audit Marketing Organization Audit Marketing Systems Audit Marketing Productivity Audit Marketing Function Audit

Marketing Environment Audit:

This is the marketing audit which is done on the basis of the environment which the GRAYS Pakistan is targeting or the environment around the company which is making its effect on the companys performance in any shape. In the marketing environment we have two factors which are Micro Environment Task Environment

Micro Environment:
The Marketing Environment which is divided into further steps has one thing which is Micro environment which includes the following factors, Demographic Economic Ecological Technological Political Cultural Economic: Economic is a great factor which plays a very important role in the success of the company. If the economic conditions are good then this will result in the success of the business. In Pakistan the economic conditions are going very good for the last few years as the growth year for the last 2 years was nearly 12% as per Govt. saying. As GRAYS Pakistan is providing foreign exchange to the Govt. and its involved in the exporting sports goods then few special measures have been taken by State Bank of Pakistan in order to give those benefits.
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There is a Duty Draw Back facility given by State Bank which is nearly 1.14% for the hockey sticks exported abroad. By this the GRAYS Pakistan gets a lot of benefit. Another special measure have been offered by State bank but it is not yet been adopted by GRAYS Pakistan which is in shape of Financing Facility. Ecological: This is the factor which is related to the environment around the company in term of natural environment. As the GRAYS Pakistan is a manufacturing company so it is having some effects on the environment as well. As the hockeys made by GRAYS Pakistan are wooden. So the wood which is used for this purpose is of Mulberry. This is specially planted in Changa Managa. GRAYS Pakistan purchases the wood from there and also plants the new trees so that the number of trees would not decrease. This is a great work of GRAYS Pakistan for the environment in shape of planting trees. The energy resources used by GRAYS Pakistan are electricity, Natural Gas and petroleum. As in the manufacturing process there is a waste, for over coming that problem there is a waste collection plant installed at GRAYS which recycles the waste. Earthquake Relief Work: 8th October saw a very drastic situation when earthquake rocked Pakistans Northern areas. GRAYS Pakistan like all other Pakistanis played its parts in the relief work which started the same day. GRAYS Pakistans management gave round about Rs.10 Millions in the President Relief Fund. On the other hand the employees also went to the effected areas and joined the relief workers. A lot of medicines, cloth and food items were sent from Sialkot Chamber of Commerce in which GRAYS Pakistan is an active participant. Technology: Technology plays a very important role in deciding the future of the company. As long as the technology is the latest and up to date then that will give u an edge over your competitors. As far as GRAYS Pakistan is concerned it is changing its technology now. As previously the wooden hockeys were produced and now the composite hockeys are very popular so for this purpose they have to change the technology. GRAYS Pakistan is involved in Product technology by which they are changing from Wooden Hockey to Composite Hockey.
Wooden Hockey Composite Hockey

Political:
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Stable Political situation in the country is equal important for the company same as the company it self is. The political factors play a very vital role in the progress of company as they manage the tax rate and other factors like that. There are some laws which are to followed which are the following Labour Laws Corporate Laws In labour laws there are some benefits for the employees working in the company like of EOB, Social Security, and Worker profit participation. The corporate laws are related to the company which includes the tax rate which is nearly 42% and includes the laws to run the company.

Cultural: As the culture of the people plays a very important role in the success of the company. Many of the companies fail just because they have not studied the culture of the people, But this is not in case of GRAYS Pakistan. The items which are manufactured are only the sports goods and they are just like a need of the people and according to the culture of the people. So as the culture of the people is in accordance with the manufacturing of GRAYS Pakistan then there is no problem fro GRAYS Pakistan to run its business here. There are n such pressure groups which are creating hurdles in the way of GRAYS Pakistan and everything is going according to the plans of GRAYS Pakistan.

Task Environment:
This is the second part of the Marketing Environment Audit in which we will be looking the matters in shape of the tasks. The audits which we will be performing under this head will be Markets Customers Competitors Distributions and Dealers Suppliers Marketing facilitators Publics Markets: Markets are the main part of the business as the business cannot progress until its not having any market where the firm can sell its products. Currently GRAYS Pakistan is only manufacturing the hockeys for the two big brands which are world top brands. One of them is GRAYS and other is TK.
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So GRAYS Pakistan is targeting the markets on two bases Demographic Geographic

On the demographic base GRAYS Pakistan is targeting different players from different countries to play from their hockey. Right now there are three Pakistani players which are involved in a contract with GRAYS Pakistan and playing with GRAYS hockeys, which are the following. Rehan Butt Adnan Zakir Imran Khan

On the Geographic basis GRAYS Pakistan is targeting both the top brands which are from two different origins, GRAYS is an English brand and TK is a Germen brand. So GRAYS Pakistan is targeting both these markets. Customers: For every successive company there is always a one big need, which is customer. GRAYS Pakistan is a manufacturing firm which is involved in the manufacturing processes for different brands no matter both are each ones competitor. So by this GRAYS Pakistan is well known company among the different brands of the world. Many of the brands of the world are willing to make deals with GRAYS in order to produces their hockey sticks here in Pakistan which is a great success of GRAYS Pakistan. When it comes to the rating of the company then it can be judged very easily that it is rated as the best company as it is the manufacturer of the worlds top brands. As the companys customers are the players, we made a questionnaire for them and got some answers from them which were quite good as they rate the company very good. Satisfied from Price = 90% Satisfied from Quality = 100% Switch Users = 3% Satisfy from result = 85% By the above given data which was calculated from the questionnaire filled by the customers we can clearly see that GRAYS Pakistan is going in the right direction as by maintaining the best quality in the hockey sticks and not compromising on the quality.

Competitors:

In the modern world there are competitors in nearly every firm which are competing with the firms in every aspect. If at any point your product goes down then your competitor will take advantage of that and will try to overcome you at that point. GRAYS Pakistan is facing a very strong kind of competition right now in the local manufacturing markets there are many firms here in Sialkot which are involved in the manufacturing process of hockeys. The competitors of GRAYS Pakistan are in shape of Awan Sports, Malik Sports, Ali Trading and Ihsan Sports. Right now at the moment the tough competition is coming from the Awan Sports as this company is very advance in the technology and proving its point in that field. But GRAYS Pakistan is giving them a tough competition and not loosing its ground. We have conducted a SWOT analysis for Awan Sports which will give a clear picture that what can be helpful for GRAYS Pakistan in competing its competitor. Strength: The Awan Sports is having only strength in the technology factor. As the technology is very advance there and they are progressing on that factor only. Weakness: The weakness for Awan Sports is that the brand name which it is carrying is not that much strong as of GRAYS Pakistan. So in this factor it is quite behind GRAYS Pakistan.

Opportunities: There are opportunities for Awan Sports that if it can hire any marketing firm for uplifting its brand then it can a great advantage for the firm which will make it progress in a great manner. Threats: Awan Sports is only having threat from GRAYS Pakistan as it is the only one big company in its way. So if GRAYS Pakistan maintain its high quality then it will be a great danger fro Awan Sports.

Distribution and Dealers:

As the GRAYS Pakistan is involved only in the manufacturing processes for the big brands of the world. The working of the GRAYS Pakistan is very simple. As it gets the orders and manufacture the desired number of hockey sticks and send it to the customer who has given them the order. So in this all process the GRAYS Pakistan does not manufacture its own hockey sticks thats why there is no need for the distribution firms for GRAYS Pakistan. So it is only the need of the firms which are involved in manufacturing their products and they try to sell the products under their own brands. Suppliers:
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As the suppliers are very important part of the company as they provide the basics things which are needed for the manufacturing process. As the GRAYS

Pakistan is a manufacturing firm the suppliers are of an equal importance as of the customers. The supplies which GRAYS Pakistan get for the manufacturing of hockey sticks are from inside the country and as well as exported from abroad. The items which are produced inside the country and used in the manufacturing of hockey sticks are PVC tubes and the item exported from abroad are Rezones.

Facilitators & Marketing Firms:

As described earlier that GRAYS Pakistan is a manufacturing company and it is just producing the hockeys for the other firms like for GRAYS and TK. So by this means GRAYS Pakistan just fulfil the orders received from others. So it is the responsibility of the firms for which the GRAYS Pakistan is manufacturing to do the Marketing of their products not for the GRAYS. So in this case there is no Marketing done by GRAYS Pakistan. Public: As the GRAYS Pakistan is a very well known company in Sialkot and it is working for the progress of the city and the people for there. This is the reason that the public know them and fell very good about the company. The company does not produce anything which is against the culture or society, thats why the public does not make any kind of pressure on the firm. GRAYS Pakistan is playing its part in the progress of the city and its people. It is involved in the Infrastructure Development of Sialkot, construction of Sialkot Public School and Sialkot Medical Complex.

Marketing Strategy Audit:

This is the part in which we will be dealing with the marketing audits related to the strategies of the company. We will be looking these matters under the following heads Business Mission Marketing Objectives and Goals Strategy

Business Mission:

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Business Mission has a very important role in the companys progress in the modern business world as we can see the business future from this and also the working of the company. As far as the GRAYS Pakistan is concerned it is only working as a manufacturing firm and the total working is that only so the business Mission is the same as the working. Business Mission for GRAYS Pakistan is To be the Ultimate choice of the customer in terms of Price and Quality.

Marketing Objectives and Goals:

As this is described earlier that the GRAYS Pakistan is only manufacturing firm sand it is not involved in the marketing process of any of the item manufactured in there as per the agreement signed between GRAYS Pakistan and GRAYS International.

Strategy: Strategies are having an equal importance as the company itself. If the company adopts a very well going strategy then the company can progress in a great manner. By this we can easily say that strategy is very important thing for the company. Strategy is defined as: Doing Right things Strategy is always a long term planning which is implied on the companies and it decides the future of the company. GRAYS Pakistan is right now going from the phase of Recovery as per the life cycle of the company product which is hockey.

1993-1998 2005

Pro gre ss

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Product Life Cycle Years

As per the diagram above we see that the GRAYS Pakistan is moving on the path of recovery. The company was on its peak in the years on 1993 to 1998. After that like every other company GRAYS Pakistan had a down fall which continued up till 2004 and now in 2005 the company is moving on the path of recovery. The GRAYS Pakistan is doing very well in segmenting its markets from the very start. It is targeting every segment with great care and it is having a great success in that aspect. The segments which GRAYS Pakistan is targeting are only two which are Demographic Geographic

GRAYS Pakistan is adopting a complete marketing mix for each and every segment and it is implying it in a very good manner. Marketing Mix consist of Price, Product, Place and Promotion.

Marketing Organization Audit:

Marketing organization audit is the kind of audit which is for the purpose of getting the information about the organizations structure. Here in this audit following things will be seen Formal Structure Functional Efficiency Interface Efficiency

Formal Structure:
Formal structure of the company has its own significance. As here we are talking about the formal structure of the Marketing department as it is very important functional department of the company. GRAYS Pakistan is a manufacturing firm and it is not involved in marketing function of the products so for that purpose the Marketing department is not that much high build. But it is performing its duties up to the mark. The formal structure of the marketing department can be like following Line Authority Staff Authority Functional Authority

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From the all above the marketing department working in GRAYS Pakistan has the Staff authority as it is only a manufacturing firm so it is providing just consulting services to GRAYS International and TK.

Feedback:
As far as the Feedback is concerned it is very necessary for the success of every business. It has equal importance here in GRAYS Pakistan. Feedback is taken from every person involved in the whole process weather it is involved in manufacturing process or it is the end user.
GRAYS feedback Manufacturing Product feedback End User

Functional Efficiency:
The functional efficiency of GRAYS Pakistan is on its high marks as all the employees are very competitive and doing their work with great efficiency. The employees are trained before they are placed in the departments. There are three levels of training programs which are implied in GRAYS Pakistan. Middle level Training Lower Level Training Strategic Level Training GRAYS Pakistan is right now conducting all three kinds of training programs which covers each and every employee of the company. As the lower level training cops the need of the labour which is involved in the manufacturing process of hockeys. Middle level training cops the needs of the people and the staff working in the office which is working as a bridge between the labour and the executives of the company. Training is also important for them as there might be some changing in the working and its necessary to adopt the change. So for that purpose training is necessary. The executives are also sent to the training programs which are very helpful for the company in terms of effective decision making. GRAYS also conduct training programs in which executives from other firm also join. This gives a lot of benefit to the other executives but also to GRAYS Pakistan.

Marketing System Audit:

Marketing System audit is a kind of audit which is related to the well designed marketing system which is used for research purposes and for forecasting in a better way for the company.
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This can divided in the following things Marketing Information System Marketing Planning System Marketing Control System New-product Development System

Marketing Information System:

This is the research system which works in the company in order to generate the data which is needed for the forecasting purpose of the company. This information is related to many things like, customers, suppliers and public. GRAYS Pakistan is gathering the data related to different segments but the data is not generated on the scientific methods. The data is generated by the old methods which are prevailing still in the company. And as the data generation is not on the modern basis, the data is not enough for making the proper decision but GRAYS Pakistan management makes decision on the basis of the data which is gathered from their sources.

Marketing Planning Systems:

Marketing Planning System is the kind of Marketing system which is developed for making the effective planning of the strategies which are to be followed by the company in order to achieve the long term goals. In GRAYS Pakistan the research methods are not scientific and up to date which is a drawback. So due to this the data acquisition is not very good. But the data which is gathered is used for making the Planning for the company. As the company is having the data which is not gathered by scientific manner and its not very accurate so the planning is not done very accurate but up till now the company is trying to forecast in a better way from the information which they get.

Marketing Control System:

The Marketing Control System is the system which is used to see that the plans which are made on the basis of the data acquisition from different sources and then formed in shape of a plan are achieved or not by the company. As per the GRAYS Pakistan the MIS is not working very well here so for this reason the data acquisition is not very accurate and as the data is not accurate the plans are not very much accurate but the management of GRAYS Pakistan tries its level best to make the best plan out of the information gathered. The complete eye is on the implementation of the plans which are made and every data is properly examined by the management of GRAYS Pakistan in order to see that how the plan is working and how much the cost has been employed on the projects and how much will it cost for the whole project.
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New-Product Development System:

This is the marketing system which is used to see that weather the company is gathering the data and forming it in a complete manner in order to form the new product development strategy. GRAYS Pakistan is making the strategies for development of new products as the main problem arises when data generation comes. As the methods used for data acquisition are not very scientific so the plans which are made are not very accurate. But on the whole GRAYS Pakistan plans very well on its own for developing any new product and complete strategy and forecasting is done before launching the product.

Marketing Productivity Audits:

This is the productivity audit of the markets where the company is earning most of its profits. Two things are seen in the Marketing productivity audits which are Profitability Analysis Cost effectiveness Analysis

Profitability Analysis:
As the profitability analysis can be done on the basis of the following things. Product Distribution Channels Territories Markets

Products: The main analysis for GRAYS Pakistan can be done on the basis of the Product. As it is producing hockey sticks for its firms which are GRAYS International and TK. By this we see that on the basis of the product the profitability is the same as it is calculated above. Last year the profitability on the basis of product was 45%. Territories: This is the profitability analysis which is done on the basis of the area where the product is sent. There are two main areas where GRAYS Pakistan is sending hockeys, which are England and Germany. The profit on the basis of the territories is calculated from the over all profitability by seeing that how much sale has been done towards which territory. For England we have the profitability of nearly 65% for the last year and 35% for Germany.

Cost effectiveness analysis:

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The effective cost is very important for the success of the company. GRAYS Pakistan is doing the same. As because of being a manufacturing firm the GRAYS Pakistan is not having a very high Marketing budget as there are not many of the functions which have to be performed by GRAYS Pakistan for the purpose of selling the hockeys. Right now GRAYS Pakistan is having its Marketing budget of almost Rs. 3,000,000 and this budget includes the advertisement and promotion and other activities. This budget is not fixed in any case as per the rules of the company. The budget can be increased or decreased according to the situation. But right now it is fulfilling the needs of the company which means it is quite sufficient.

Marketing Functions Audits:

These are the audits which are conducted on the basis of the marketing functions performed by the firm. This audit is performed under the following heads. Products Price Distribution Advertisement Sales force Products: Products are having very important part in the company as there must be something which is produced by the company from which the company can get profit. Here in GRAYS Pakistan the mail product which is manufactured are hockey sticks. There is an objective which is called as Product line Objective and GRAYS Pakistan is following that objective. This objective can be divided into two parts
Sales forecasting Profit forecasting

Sales forecasting: Sales forecasting is there in GRAYS Pakistan and it is done on the structure of the market and by looking into the factors which are playing an important role in the industry at that time and which can affect the sales. As far as the Sales forecasting end result is concerned, the sales forecasting is almost accurate and in some years it has gone above the forecasted limit. Profit forecasting: Just like sales forecasting the profit forecasting is of equal importance. If profit forecasting is not there then this might be a draw back of the firm. In GRAYS Pakistan there is profit forecasting and equal importance is given to it.
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But there are some of the points which have to be kept in mind while making profit forecasting that the profit forecasting is effected by many external things like Government policies, Exchange Rates etc. the reason for this is that the amount collected is in US $ so if the exchange rate goes up or down then that will effect the profit forecasting.

Product line stretched Contracted:

The product line in GRAYS Pakistan is contracted or stretched according to the situation going on at the time. Right now GRAYS Pakistan is producing only hockeys but if there is any grow in the cricket ball market or ice hockey sticks then they also start producing that which shows that they Stretch the product line. And if the Sales is not enough then they cut down the production which show that they are Contracting. By this we see that at GRAYS Pakistan both product line methods are used.

Price:
The pricing is an important factor and it should be dealt with great care because if any thing is wrong in this factor then everything can go wrong no matter what correct things you were applying at the start. In GRAYS Pakistan there is an ideal percentage given above the cost price which shows that how much profit has to be earned which is 100%. This is the ultimate profit which is the ideal condition for the company but GRAYS Pakistan also sell products on lesser profit rates like 50%. In some cases when it is necessary to finish the excessive stock then the products are sold even on the cost.

Factors looked upon pricing:

There are some factors which are looked upon pricing the products as they are very important for every firm which are Cost Principle Demand Principle Competitive Principle In the case of GRAYS Pakistan Cost principle is given more importance and price is calculated according to that principle but here we cannot exclude the Competitive Principle as this is another important principle. But GRAYS Pakistan is charging a little price just because of the brand name and the quality. The pricing of GRAYS Pakistan is under the rules and regulations defined by Govt. in Companies Ordinance.

Distributions:
We have calculated the distribution of the products manufactured here in GRAYS Pakistan. There are two markets which GRAYS Pakistan is targeting and the total products are
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distributed there. 60% of the total products are distributed in English market and the remaining 40% is for the German Markets.

Advertising:
Advertising plays a very important role in the success of the firm as this gives a new look to the company as the advertisement can increase your turnover which will ultimately result in increased profit. But when we come to GRAYS Pakistan, this company is performing its functions here in Pakistan for last 50 years and it needs no introduction among sports industry. But it is still advertising it self but not on a very low level as the firm is providing the manufacturing facilities. So it is concentrating on the sports festivals to advertise GRAYS Pakistan there in shape of stalls. Currently a budget of Rs. 3,000,000 is allocated for the advertisement and promotion purpose which is quite enough for the current situations. But this budget is not fixed. This can be changed according to the situation as per the GRAYS Pakistan policy. As far as the concern of the public towards the company it is quite friendly as the GRAYS Pakistan is contributing a lot towards the progress of Sialkot and the people of there. GRAYS Pakistan is providing a lot of employment to the people of Sialkot.

Market share Analysis:

This is a kind of tool which is used to measure the total market share for any of the product. This is a very useful tool by which the companies can measure the total market share and can target their goals in accordance with the market share. The formula which is used in here is Q=n*q*p Here Q = Total Market potential n = Number of buyers q = Quantity bought by average buyer p = Price of average quantity sold In the case of GRAYS Pakistan we that with the values given by the management of GRAYS Pakistan we will calculate the total market potential of the hockey market. n = 2 buyers q = 150,000 hockeys p = $26 Q = 2 * 150000* 26 Q = $ 7,800,000 Q = Rs. 468,000,000 This shows that the total market share or the Total Market Potential for hockeys is Rs. 468,000,000. From which GRAYS Pakistan is capturing almost 48%.

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Suggestion for GRAYS Pakistan

Here are some of the suggestions after conducting a research based project on the company. These suggestions or recommendations can be very much beneficial for the company if they are implemented.

There is no MIS system deployed in GRAYS Pakistan. If this system is employed in the company then this will increase the overall profit by great margin. There is data gathering in GRAYS Pakistan for forecasting but the scientific methods are not used for it which results in the incorrect information and on the basis of it forecasting cant be done properly. So Scientific methods should be used or different companies should be given contract for this purpose. The advertising of the Company on the whole is not there very much. So there is a need to increase the advertisement of the company as this will result in attracting the customers. The technology should be kept up to the date as the company suffered a great decrease in the profits in few last years due to lack of technology. So the technology should be given more importance and should be kept up to date.

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GRAYS Pakistan is having the Marketing Department but its without the proper marketing head. The most positions are held by people of finance. So this thing should be checked and correct persons should be there in the place according to his qualification and experience.

GRAYS Pakistan should get involve in sponsoring the students from different Universities which will help both the society and GRAYS Pakistan. As by this GRAYS Pakistan will get the fresh mind and new ideas which will help in expanding the business. GRAYS Pakistan has not developed or made any Sales variance which can be very helpful in their profit forecasting. So they should develop it with the help of any firm working in this field so that they can do better forecasting. GRAYS Pakistan is involved in making ideas of new products but these new products are designed without any scientific research. So all the new product development should be done under complete process which should be after conducting a complete research.

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