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INTRODUCTION
MARKET MAPPING
A study of various market conditions that is plotted on a map to identify trends and corresponding variables between consumers and products. It can help the companies to figure out the source of problems by examining related variables. THE PURPOSE OF MAPPING The idea of market Mapping is to identify gaps in the market & Gaps can also provide entrepreneurs with the opportunity to embark on a new business venture.
Advantages
Helps spot gaps in the markets Useful for analyzing competitors Encourages use of market research
Disadvantages
Just because there is a gap doesnt mean there is a demand Not a guarantee of success how reliable is the market research?
CONTINUE..
CORE VALUES OF ORIENT BELL LIMITED
INTEGRITY QUALITY CUSTOMERS AGILITY PARTNERS PERFORMANCE
RESEARCH METHODOLOGY
The study used both primary data and secondary data .
Research Design
It is a descriptive research study which is carried out and is concerned with describing the various characteristics like product information, gap findings , display size of samples in the shop, feedback of applicators and satisfaction level of customers and dealers of Bell.
Sample size
58 respondents, containing 31 dealers of Bell and 27 influencers. Sampling Unit & Research Instrument The sampling unit is Calicut region and instrument is a structured questionnaire
FINDINGS
DEALER SURVEY FINDINGS
The analysis highlights that the dealers are attracted to other brands, mainly on account of its design, price, advertisement and offers etc. The study reveals that majority of dealers around 45%, have given less than or equal to 10% of space with respect to their shop space. The survey shows that the unawareness of bell product ranges, designs and lack of much display of samples in the dealers shop is a major problem in the market. It is concluded that 40% of respondents say that price is crucial element along with advertisement and 30% of them say quality and design are more important.
SUGGESTIONS
Branding and promotions should be done effectively as it creates a long lasting image in the mind of customers. The company should not only concentrate on the customer satisfaction but also the company led to monitor their competitors performance in their areas of operations. More dealers should be created where the dealers are less or the supply chain is small in the Calicut region and the performance of the dealers should be assessed
Conclusion
According to the study it can be concluded that most customers are satisfied with Bell services, similarly most of the influencers like architects, developers and designers are dissatisfied with sales, service and advertisement which are the matter of concern for the company. Orient Bell needs to improve some parts of area specifically the designing with more varieties to meet the current market trends. High customer satisfaction level helps the company to retain its existing customer as well as generate new customer through word to mouth publicity.