0601066 market research for manufacturing of new product type timing v-belt

A
PROJECT REPORT
ON
MARKET RESEARCH FOR MANUFACTURING OF NEW
PRODUCT TYPE- TIMING V-BELT
FOR
OMFA RUBBERS PVT. LTD., NOIDA
IN PARTIAL FULFILLMENT OF
MASTER IN BUSINESS ADMINISTRATION
UNIVERSITY OF PUNE
BY
SUMIT MUKOO
M.B.A.
(2006 2008)
GUIDED BY
MRS. ANJALI MUJOO (OMFA RUBBERS)
PROF. Mr. MAHESH GADEKAR (VIM)
VISHWAKARMA INSTITUTE OF MANAGEMENT,
PUNE

To Whom so ever It May
Concern
This is to certify that the project report entitled “Market
research for manufacturing a new product type -Timing V-
Belt” submitted by Mr. Sumit Mukoo in partial fulfillment of
degree Master of Business Administration (M.B.A) has been
completed under my supervision and guidance.
To the best of my knowledge and belief the matter presented
by him is original in nature and has not been copied from any
sources. This report has not been submitted earlier for the
award of any degree/diploma of Pune University, Pune or any
other University.

Prof M.r Mahesh
Gadekar
Project Guide
VIM, Pune
Dr. Sharad Joshi,
Director
VIM, Pune
ACKNOWLEDGEMENT
I am immensely glad to present the project
report on “MARKET RESEARCH FOR
MANUFACTURING A NEW PRODUCT TYPE
-TIMING V-BELT”. This is my first venture to
have an insight into this particular subject.
I would like to express my deep sense of
gratitude to my guide M.r Mahesh Gadekar without
whose help this report would not have been possible.
I am also grateful to Mr. Vicky Menon (G.M. Sales
& Marketing), Mrs. Anjali Mujoo (M.D.) and Mr.
Anuj Farsaiya (Director) of Omfa Rubbers Pvt.
Ltd. (Noida, Uttar Pradesh) for without whom it
would not have been possible to make this a
successful project. Their kind advice in all practical
matters is hard to gratify. I also thank their staff
members for their selfless cooperation.
I express my sincere thanks to Dr. Sharad
Joshi, Director, Vishwakarma Institute of
Management, Pune, for their valuable advice and
guidance. They are always a source of inspiration for
me. Words are inadequate to express my feelings. I
take this opportunity to thank all those who took
great pains and were ever ready to lend me a helping

hand as and when required. They were a constant
source of inspiration to me.
Sumit Mukoo
VIM, Pune
CONTENTS

CHAPTER No. 1
CHAPTER NO. TITLE PAGE NO.
1. Introduction To The Study 1
1.1 Executive Summary 1
1.2 Objectives of the study 4
1.3 Scope of the study 5
2. Company Profile 8
2.1 Historical Background 6
2.2 Growth 7
2.3 Position 8
2.4 Products and their Features 9
2.5 Market 10
2.6 Human Resources 11
2.7 Organizational Structure 13
3. Conceptual Framework of the
Study 14
4. Research Methodology
23
5. Presentation, Analysis& Interpretation of data 27
6. Findings, Suggestions and limitations 57
Conclusion 60
Bibliography 61

INTRODUCTION TO THE STUDY
1.1) Executive Summary:
In this project market research for manufacturing
timing v –belt has been done. The method of research adopted
is questionnaire. This research was done completely in order
to get a very clear and transparent picture of the response that
the customers and dealers will give to its manufacturing.
Currently in India there are mainly three major companies
giving very tough competition to each other in this particular
product type. These companies are Fenner, Omfa, and Pix.
Now in this present scenario Omfa Rubbers Pvt. Ltd. wants to
launch the same product type. Since the above three
mentioned companies are the leading suppliers and not the
manufacturers of this product type, Omfa rubbers want to
start their own manufacturing to gain the maximum market
share and to give a real tough competition to these firms in
this respect. It has been mentioned here that the three firms
are not the manufacturers but suppliers; this will be made
clear in the following chapters. So in order to take the
advantage of this particular fact of being suppliers and not the
manufacturers, Omfa rubbers want to grab this golden
opportunity.

In order to start the manufacturing of any product or
product type, the manufacturer should first make an intensive
survey of the market dealers and customers using and selling
this product respectively, the resources needed, amount of
finance needed, success probability of the product, prospect
customers, selling and distribution channels, present and
future demand.
Finally based on these facts and figures the marketing
plan will be prepared and manufacturing of the product will
be initiated. But, the question arises here that why leading
manufacturers didn’t realize this thing? There can be so many
answers to this question such as they have good market share
presently and they have adopted a stability strategy, but a new
firm like ours follows the strategy of expansion. So, in order
to realize the same this research was conducted.
First of all the researcher took into consideration the
availability of financial resources required for initiating the
production of this product. Researcher had various
discussions and meetings with the technical staff of the
company, in order to find out that whether the company is
having enough technical infrastructure and technical
capability to manufacture the product

After these meetings and discussions researcher found
out that in order to manufacture timing v – belt special type of
mould is required, which is the primary requirement for its
manufacturing. Now, this mould is not available in India, and
above all it is very expensive. So, it is but natural that it will
have to be imported from outside India. Keeping in view all
these factors the researcher prepared a questionnaire and took
feedback from nearly hundred dealers and prospect customers
of this product. The feedback or the information which the
researcher got from these people will help the firm in a
substantial manner to formulate plans for the same. Through
this survey, the firm will come to know about the real market
situation for their product. The feedback which the researcher
got initially was very fluctuating but gradually the trend
changed as he visited more and more dealers and customers.
Mass production by power driven machinery in
anticipation of demand for ever widening market created
special problems of distribution.
(a) Ever expanding markets required numerous
middlemen between producer and consumer. Each
middleman erected a sort of wall which blocked the backward

flow of communication regarding consumer needs and dealer
needs to the manufacturer. Size and specialization within the
business unit and intervention of numerous middlemen
between producer and consumer created a chronic gap of
communication – lack of returned flow or feeding back of
information from consumer to producer. The widening of
communication gap is the chief single factor for increasing
importance of marketing research to fill up the
communication gap between the consumer and the producer.
Marketing research alone can provide first hand knowledge of
consumers and changes in the pattern of demand.
(b) Emergence of buyer’s market and increasing
competition demanded continuous need of marketing research
to ensure maximum consumer satisfaction and repeat
purchases and to lay down appropriate marketing strategies to
meet competition, to survive and grow in a competitive
market.
(c) There is nothing permanent except change. Change
alone is constant. Change is the essence of life. Change
means progress. Change is the common denominator in
planning, organizing, motivating and controlling marketing

activity. Marketing research enables management to
anticipate, meet and adapt change and creativity and
accelerate conditions of change, particularly in consumer
demand. The real challenge to marketing management is to
firmly believe that changing a business-finding its new role,
new customers, new products, new markets-is even more
important than efficient operations of the business.
(e)Marketing research can solve the problem of
catching up with new developments brought about by
unprecedented growth of science and technology. It can help
management to bring about prompt adjustments and
innovations in product design, packaging, advertising, sales
promotion and distribution policies so that the business can
keep itself up to date in the dynamic market place.
1.2) Objectives of the Study:
The main objectives of conducting this research work
are as given below:-
1) To help in formulation of marketing plans. This
research work has been done in order to analyze the attitude,
response and acceptance level of the customer towards
manufacturing of timing v- belt.

2) To help in controlling and evaluation of these
plans, policies etc, when brought into practice. This will help
the firm to make their plans as close as possible to the
standard one. This will make their plans and policies more
efficient, and profit achieving.
3) To help the firm to ascertain whether the
manufacturing of timing v- belt is profitable or not. In this
way it will save company’s resources from getting wasted.
4) To help the firm in reducing and minimizing all
marketing costs, particularly, selling, advertising, promotion
and distribution costs with respect to timing v- belt. With the
available facts and figures they will be able to define their
target market more accurately and precisely.
5) To help the company in defining the size of real
target market. It will help the company in a very effective
manner in defining their target market in New Delhi.
6) To provide insurance cover for the survival and
growth of the business. The company can take precautions

based on the results or findings of the research well in
advance.
7) To help the firm to ascertain the level of
satisfaction among existing dealers.
8) To help the firm to receive suggestions if
necessary.
(1.3) Scope of the Study:
The “Omfa Rubber’s” is already manufacturing other
types of automotive and industrial belts and is a leading
manufacturer of the same.In India, till now no v-belt company
manufactures timing v-belt. They import timing v-belt from
other foreign countries, put their brand name on it and supply
it in the Indian market. This project was done in order to find
out, that whether company’s decision to manufacture timing
v-belt in the present scenario is right or not. This will help the
company to come across the real market situation. They will
come to know the actual demand for this product in New
Delhi market. Through this study their prospect customers
will also be identified. This will also help the firm to know
their stand in the New Delhi market. It will bring out the
shortcomings of the company, and will help it to amend them
without facing any major losses. This project will be helpful

to the ‘Omfa Rubbers’ firm to take decision whether they
should enter into manufacturing timing v – belt or not.
CHAPTER No. 2
COMPANY PROFILE
2.1) Historical Background:
• The company OMFA RUBBERS PRIVATE
LIMITED was incorporated under the provision of
Companies Act 1956, in the year 1992. The company was
promoted by group of highly qualified, dynamic, able
technocrats. They have very sound and strong financial
background.
• The company is engaged in the manufacturing
of all kinds of transmission belts. These are used in all kinds
of industries and automobiles. The company started its
commercial activity in the year 1992 with a very small install
capacity of 6, 00,000 paces per annum.
• During a short span only a decade, the company
has established it self among the top manufacturers in India.
At present the company has latest technology, production
machines and testing facilities with the installed capacity of
15, 00,000 paces per annum. The products are manufactured

in line with the Indian as well as international standards as per
customers requirement.
• The products of company are ISI marked and
also approved by apex test houses. The company is an ISO
9001 certified company and it is amongst the biggest
suppliers to the ministry of Defense, state transport
undertakings and large industrial houses.
• These achievements are not the ultimate goals
but are sufficient to boost our morale to rise up to the top
most position in the transmission belting line.
2.2) Growth:
During a short span of time only a decade, the Omfa
Rubbers has established itself among the top manufacturers of
belts in India. When the company was established, the
manufacturing capacity of the firm was only 3000 paces per
annum. Now the company is having latest machinery and
international standard testing machines installed producing
15, 00,000 paces per annum.
Initially the firm was having customers in the local
market only, but now it covers almost every part of the
country, and also exports its products to various foreign
countries such as Turkey, Iran etc. Earlier the belts being

manufactured were only in accordance with the Indian
Standards, but now they are manufactured in accordance with
the British Standards, International organization for
standardization, Japanese Industrial Standards and Deutsche
Industrial standards. This is a remarkable landmark in the
growth of this company.
When the company was established it was having only
four employees but now is having more than hundred
employees associated with it. The following graph shows the
increment of customers for Omfa Rubbers Pvt. Ltd. By
observing the graph we come to know that in 1992 the
company was having only three customers, then after three
years i.e. in the year 1995 the number of customers rose to
twelve, and till the year 2004 they were having three hundred
and forty five customers. So, it can be said that number of
customers doubled every year, and it can be concluded that
the growth of the company has taken place at a very
remarkable rate.

2.3) Position:
When the Omfa Rubbers Pvt. Ltd. was established, it
was having a very tough competition from all the leading belt
manufacturers in the country such as Fenner, Gates, etc. The
company’s positioning strategy was affected by a number of
variables that are closely tied to the motivations and
requirements of target customers as well as the actions of
primary competitors.
The company positioned itself in the market on the
basis of certain special attributes which their close
competitors were not having. The company introduced their
product at a lower price, having quality of the same grade as
The Graph showing Customer Increment of Omfa
Rubbers Pvt. Ltd.
0
50
100
150
200
250
300
350
400
1992 1994 1996 1998 2000 2002 2004 2006 2008
Year
No.
Of
Customers

their competitors were having. This strategy helped the
company to establish itself in the market, but worked at no
profit, no loss. Slowly and steadily the company started
making more varieties of belts, and also got recognition from
various national and Inter national standard organizations.
The company manufactures almost all the varieties of belts
under one roof, having applications in manufacturing
machineries and automobiles. The company is on number
three position in the country presently, and is looking forward
to become the number one manufacturer in the country within
two three years.
Today the company is among the top three leading
manufacturers of the country having annual turnover of eight
crores, and having working capital of three crores. The
company has been approved by Lloyd’s Register Quality
Assurance to the following Quality Management System
Standards: BS EN ISO 9001:2000.
2.4 Products and their features:
Omfa Rubbers Pvt. Ltd. manufacture belts under two
different names i.e. Premium and Hi-Tech on the basis of

their price and quality. The following ranges of products are
manufactured by them:
• Classical belt
• Wedge belt
(a) Space saver SPA section (13mm x 10mm)
(b) Space saver SPB section (17mm x 14mm)
(c) Space saver SPC section (22mm x 18mm)
(d) Space saver SPZ section (10mm x 8mm)
• Hexagonal belt
• Agricultural Variable speed belt
• Cogged belt
• Automotive v- ribbed belt
(a) A section (13mm x 8mm)
(b) B section (17mm x 11mm)
(c) C section (22mm x 14mm)
(d) D section (32mm x 19mm)
(e) E section (38mm x 23mm)
(f) F.H.P. (10mm x 6mm)
The above mentioned belts have the following
properties:
• They have fabric cover which gives high heat
resistance, high wear resistance, excellent oxygen and ozone
resistance and antistatic properties.

• They have tension layer which gives moderate to
high stiffness and high flex resistance.
• The tension member is made up of high tensile
strength and low elongation HMLS polyester card known as
High Modulus Low Stretch for better power transmission.
• It has cushion rubber which gives strong
adherence to the tension member, excellent adhesion and
fatigue resistance.
• It has compression rubber which gives enough
resistance to crack, good heat resistance, high load carrying
capacity for better flexing.
• The belts are resistant to damage from oil, grease
and fatty compounds.
• The belts are heat resistant for prevention of
ageing and decomposition of belt at high temperature.
2.5) Market:
When the company was established, at that time it
used to supply their product only in local market. Their
customers were limited only in few areas of New Delhi state.
After the up gradation of their quality, the company started
expanding its market all over the country.

Now, the company is having customers in almost each
and every part of the country. The company supplies belts to
Indian Railways, some Departments of Defense, and to
almost all prominent State Roadways. Not only this, but the
company exports its product to few foreign countries also
such as Turkey, Iran etc.
The company is having a large market now, and is
looking forward to become number one exporter in the
country in the belts market.
2.6) Human Resources:
• The total number of employee skilled, unskilled
and managerial staff working in Omfa Rubbers Pvt. Ltd. is
one hundred and thirty.
• There are five persons working in technical
department.
• There are ninety two persons working in
production planning and control department.
• There are twelve people working in marketing and
sales department with five Resident Sales Engineers, two

Sales Executive, two Sales officers, one Area Sales manager,
one Regional Sales Manager and one General Manager.
• There are two persons working in Engineering
and Maintenance department.
• The Finance and Accounts department is handled
by three persons.
• The Purchasing and Dispatch department is having
five people working in it.
• The Office Administration, Personal Training and
Security department has nine people working in it; seven in
former and three in latter.
• There are two Management Representatives.
Figure no.2 Various Departments of Omfa
Rubbers Pvt. Ltd.
TECHNICAL
QA/LAB/R&D
PRODUCTION
PLANNING&CONTROL
MARKETING AND SALES
ENGINEERING
AND
MAINTENANCE FINANCE AND ACCOUNTS
PURCHASING AND DISPATCH
OFFICE ADMINISTRATION,
PERSONAL TRAINING & SECURITY
MANAGEMENTREPRESENTATIVE

2.7) Organizational Chart Of Omfa Rubbers
Private Ltd.:
GENERAL MANAGER
(MARKETING & SALES)
REGIONAL MANAGER
RESIDENT SALES
ENGINEER
RESIDENT SALES
ENGINEER
RESIDENT SALES
ENGINEER
R.S.EAREA MANAGER
AREA MANAGER AREA MANAGER
AREA
MANAGER
SALES
ENGINEER
SALES
ENGINEER
SALES
ENGINEER
SALES
ENGINEER
MANAGING DIRECTOR
DIRECTOR

CHAPTER No. 3
CONCEPTUAL FRAMEWORK OF THE
STUDY
Research: Research is the process of gathering,
recording and analyzing of critical and relevant facts about
any problem in any branch of human activity. It indicates
critical and searching study and scientific investigation of a

problem, a proposed course of action, a hypothesis or a
theory.
Market Research: Market research is only one
branch of the marketing information system. Market means
actual and potential customers. Market research is the
systematic and intelligent
investigation or study of the “Who, What, Where,
When, Why and How of actual and potential buyers”. It deals
with research on customer demand, e.g., behavior and
attitudes of consumers and dealers at the market place,
analysis of sales data, analysis of market share of a firm, etc.
The following items of study are included in market
research: 1.size of the market, 2. geographic location of
customers, 3. demographic descriptions of customers, 4.
market segmentation on the basis of age, sex, income,
education, Nationality, standard of living, etc. 7. Consumer
needs wants, habits and behavior, 8. Dealer wants
Preferences, 9. Degree of competition and the market trend.

Fig. 3 Marketing research begins and ends with
customers.
Elements of Marketing Research.
There are three elements of marketing research:
Identify and analyze customer’s market.
Then develop a marketing program (action plan)
with a marketing mix.
Marketing mix of
1. Product planning
2. Price structure
3. Promotional program
4. Distribution system
Feedbac
The output of the marketing mix is the
customer’s service and satisfaction.
Marketing mix is the market effort to
reach the customer market.

(1)Intensive Study: It involves systematic and
intensive study of a marketing problem.
(a)Planned Process: We have planned procedure of
investigation and analysis.
(b)Orderly Investigation: The procedure of marketing
research has clearly defined steps in proper sequence or order.
(c)Intensive Investigation: All the relevant factors
involved in a Marketing problem is observed closely.
(2) Scientific Approach: Marketing research adopts
scientific method and objectivity in the solution of a
marketing problem.
(a) Rational Outlook: Researcher or analyst has an
objective attitude- rational outlook based on reason and logic.
(b)Defined Purpose: The purpose of inquiry and the
problem under investigation are clearly defined.
(c)Accuracy: Accuracy in calculation, in observation
and in reporting is strictly ensured.

(d)Standardized process: Marketing research process
is standardized and can be repeated exactly in solving all
problems.
(e)Scientific Attitude: The researcher has an open
mind, critical attitude, Creativity, absolute honesty and
integrity – hall marks of scientific attitude and approach.
(3) Decision Tool: Marketing research is a tool for
decision making and control in the marketing of
goods.Marketing managers face numerous pressing problems
from time to time during the conduct of marketing activities.
They need information upon which they may take proper
decisions. Manager is by profession a decision – maker.
Decision making involves a perpetual choice –
making activity. From the given alternatives one alternative is
selected as the most promising course of action or behavior.
In a sense, decision – making is the essence of management.
Manager needs information in planning as well as evaluating
the plans in action. Marketing manager calls upon a skilled
analyst to examine the problem or question, break up into its

elements, get the needed data, analyze it and workout
desirable conclusions based on facts and figures.
Decision making: Six steps of decision making
process:
(1)Define the problem to be solved;
(2)Search and develop alternative solutions;
(3)Analyze, evaluate those alternatives;
(4)Decide upon the best solution or select the best
alternative on the basis of information supplied by marketing
researcher;
(5)Implement the decision or take action and execute
the plan;
(6)Follow up the decision till you get expected result.
At this stage again marketing researcher helps the manager in
evaluating the effectiveness of decisions and suggesting, if
necessary, measures to improve and modify the decisions. In
the follow up step, marketing researcher is also needed to
measure the degree of success of decision and remove

difficulties in its implementation. Research task is purely a
staff function.
Marketing researcher is only an advisor, offering
expert guidance and advice to the marketing executives in the
conduct of business.He helps them to do their job better and
makes their work of decision making easier by providing
information upon which executives can take sound decisions
and actions. He can improve the quality of marketing
decisions and reduce risk and uncertainty in decisions to the
minimum. However, actual decisions are made by managers
and they are fully accountable for the results of their actions.
Marketing research is responsible to provide good
information. Manager basis decisions on information not on
data. Good information is timely, up to date, accurate,
adequate, relevant, reliable, economical and above all
understandable, acceptable and usable by manager in decision
making process.
Areas of Marketing Research:

Broadly speaking, there are four major strategic areas
of marketing:
(1) Product;
(2) Price;
(3)Promotion;
(a)Personal selling;
(b)Advertising;
(c)Publicity
(d)Sales promotion; and
(e)Public relations.
(4)Distribution.
Marketing research offers active help in the evolution
of optimum marketing mix. The following diagram depicts
the role of marketing research in all decision areas of
marketing mix.

Fig.4. Main areas of research in marketing field
Branches of Marketing Research:-
(1)Research in product planning and development.
(2)Market Research to get information on:
(a) Market segmentation,
(b) Market demand,
(c) Market competition,
(d) Market share,
(e) Market trend.
(3)Consumer research to get information on:
(a) Consumer needs, wants and preferences,

(b) Buying motives and buying behavior,
(c) Changes in demand,
(d) Customer response to rival’s sales
promotion and advertising,
(e) Linking need and name
(4) Pricing research – policies regarding prices,
discounts and allowances.
(5) Research in brand and package design
(6) Research in channel choice,
(7) Research in physical distribution and distribution
cost- transport, storage and insurance,
(8)Planning and evaluation of various sales promotion
devices,
(9) Planning and evaluation of advertising – copy and
media research,
(10) Sales analysis and research – sales forecast, sales
quotas, sales territories, etc.
Marketing Research Process:
Marketing Research Process involves the following
seven steps in proper sequence:

1. Situation analysis
2. Preliminary investigation
3. Research design
4. Sources of data
5. Data analysis
6. Report preparation.
7. Follow up recommendations.
The following figure depicts the process of marketing
research.

Fig. 5 Marketing Research Process

CHAPTER No.4
RESEARCH METHODOLOGY
A) RESEARCH DESIGN
“Research design is the plan, structure, and strategy of
investigation conceived so as to obtain answer to research
question and to control variance.”
The definition consists of three important terms plan,
structure and strategy. The plan is an outline of the scheme on
which the researcher is to work. The structure of the research
is more specific outline or the scheme and the strategy show
how the research will be carried out, specifying the method to
be used in the collection and analysis of the data. From the
definition it is thus evident that research design is more of a
blueprint of the research. It can be compared with the plan of
house, which lays down the method and procedure for the
collection of requisite information and its measurement and
analysis with a view of arriving at meaningful conclusion at
the end of the proposed study.

Types of research design
It should be remembered that there is no perfect
research design. Research design has been classified under
three broad categories as under:
1) Exploratory study
2) Descriptive study
3) Casual study
I have used descriptive research design for the project. This
type of design is used when the researcher is interested in
knowing the characteristic of certain groups such as age, sex,
education level, occupation or income. Other cases where it is
used when the researcher is interested in knowing the
proportion of people in a given population who have behaved
in a particular manner, making projections of certain thing or
determining the relationship between two or more variables.
This is factual and well structured approach. I have used the
cross sectional survey technique where I got the information
from preparing the questionnaire and the used it for the
analysis.
B) THE TWO SOURCES OF DATA

(1) Primary data and
(2) Secondary data
FIG. 1 SOURCES OF DATA
(1) Primary Data:
It is the information obtained from original sources by
the researcher. It can be gathered slowly at a high cost. But it
offers much greater accuracy and reliability. It gives latest
information.
The following method was used for obtaining the primary
data:
SOURCES OF DATA
PRIMARY DATA SECONDARY DATA

(a) Survey technique (Questionnaire):
It is very effective method of conducting surveys.
According to this method a well organized questionnaire was
prepared by the researcher. The questionnaire was given to
every dealer of v-belt, and their responses were recorded by
means of questionnaire. The responses were recorded by
personally visiting the dealers in different blocks of New
Delhi city. The questions were short, simple, easily
understandable, direct, pointed, well phrased and had one
interpretation or meaning.
(2) Secondary Data:
This data provides a starting point for research and
offers the advantages of lower cost and quicker availability. It
was collected by the researcher by referring company records
such as invoices, sales figures etc.
C) SAMPLE DESCRIPTION
Sampling is the method of selecting a sample from the
given universe with view to draw conclusions about the

universe. Sample means representative of universe selected
for the study. The sampling plan can be broadly divided into
two types.
• Probability Sampling
• Non-Probability Sampling
In Probability Sampling every unit in the sample size
has an equal opportunity of getting selected.
In Non-Probability sampling every sample
unit in the sample size does not have an equal chance of
selection. There is some bias during the selection of sample
unit.
These two sampling techniques are further subdivided
into various types.
I used non-probability sampling technique. I collected
the responses from 100 dealers and used this for data
interpretation.

CHAPTER No. 5
PRESENTATION, ANALYSIS AND
INTERPRETATION OF DATA
Table No. 1
The table showing the percentage of the
brands of v-belts sold in New Delhi market.
Sr. No. Brands
No. of
Respondents
Percentage
1. Fenner 35 35 %
2. Pix 20 20 %
3. Omfa 20 20 %
4. Mitsubishi 10 10 %
5. Gates 10 10 %
6. Bendo 5 5 %
Total 100 100 %
• The maximum (35%) sale of v-belt in New Delhi
is of Fenner brand.
• The minimum (5%) sale of v-belt in New Delhi is
of Bendo brand

• The average or secondary (20%) sale of v-belt in
New Delhi is of Pix and brand.
• The second highest (20%) sale of v-belt in New
Delhi is of Omfa brand.
Graph No. 1
The graph showing the percentage of the
brands of v-belts sold in New Delhi market.

Table No. 2
0
5
10
15
20
25
30
35
Percentage
Of OF
Respondents
Fenner Pix Omfa Mitsubishi Gates Bendo
Brands
BRANDS SOLD BY DEALERS

The table showing the percentage of
demand for various brands of v-belts in New
Delhi market.
Sr.
No.
Brands No. of
Respondents
Percentage
1. Fenner 30 30 %
2. Pix 15 15 %
3. Omfa 35 35 %
4. Mitsubishi 5 5 %
5. Gates 10 10%
6. Bendo 5 5%
Total 100 100%
• The maximum (35%) demand of v-belt is for
the Omfa brand.
• The minimum (5%) demand of v-belt is for the
Mitsubishi and Bendo brand.
• The average or secondary demand of v-belt is
for the Pix and Gates brand.
• The highest (35%) demand of v-belt is for the
Omfa brand.

Graph No. 2
The graph showing the percentage of
demand
for various brands of v-belts in New Delhi
market.
0
5
10
15
20
25
30
35
Percentage
Of
Respondents
Brands

Table No.3
preferences for the price satisfaction from the
dealers in New Delhi market.
Sr. No. Brand
Respondents
Satisfied
Percentage
1. Fenner 18 18 %
2. Pix 27 27%
3. Omfa 37 37%
4. Mitsubishi 5 5%
5. Gates 7 7%
6. Bendo 6 6%
Total 100 100 %
• The maximum (37%) v-belt dealers are
satisfied with the prices of Omfa brand.
• The minimum (5%) v-belt dealers are
satisfied with the prices of Mitsubishi brand.
• The average or secondary (18%) v-belt
dealers are satisfied with the prices of Fenner brand.

• The highest (37%) v-belt dealers are
satisfied with the prices of Omfa brand.
Graph No.3
preferences for the price satisfaction from the
0
5
10
15
20
25
30
35
40
Percentage Of
Respondents
Brands

Table No.4
preferences for thequality satisfaction from the
• The maximum (21%) dealers are of the
opinion that v-belts of Omfa brand have very good quality.
Sr.
No.
Brand
Very
Good
Good Avg Total
% Of
Very
Good
% Of
Good
% Of
Avg Total
1 Fenner 12 9 3 24 12 % 9 % 3 % 24%
2 Pix 16 4 2 22 16 % 4 % 2 % 22%
3 Omfa 2$1 2 1 24 21 % 2 % 1 % 24%
4 Mitsubishi 5 2 1 8 5 % 2 % 1 % 8%
5 Gates 8 2 1 11 8 % 2 % 1 % 11%
6 Bendo 4 5 2 11 4 % 5 % 2 % 11%
Total 100 100%

• The minimum (4%) dealers are of the opinion
that v-belts of Bendo brand have very good quality.
• The average or secondary (16%) dealers are of
the opinion that v-belts of Pix brand have very good quality,
followed by Fenner brand in third place.
• The highest (21%) dealers are of the opinion
that v-belts of Omfa brand have very good quality.
Graph No.4
preferences for the quality satisfaction from the

0
5
10
15
20
25
Brands
PercentageofRespondents Very Good
Good
Average
Table No. 5
The table showing the percentage of factors
which influence the dealers for purchasing v-belts
in New Delhi market.

Sr. No. Factors No. Of Respondents
Percentage
1. Brand Name 11 11 %
2. Quality 20 20 %
3. Service 4 4 %
4. Price 50 50 %
5. Availability 15 15 %
Total 100 100 %
• The maximum (50 %) dealers are of the
opinion that preference is given to price, while purchasing v-
belts.
• The minimum (4 %) dealers are of the opinion
that preference is given to service, while purchasing v-belts.
• The average or secondary (20%) dealers are of
the opinion that preference is given to quality, while
purchasing v-belts.
• The maximum (50 %) dealers are of the
opinion that preference is given to price, while purchasing v-
belts.

Graph No.5
factors which influence the dealers for purchasing
v-belts in New Delhi market.
Brand Name
Quality
Service
Price
Availability
15 %
50 %
11 %
20 %
4 %

Table No.6
level of services given by various brands of v-belt.
Sr. No. Brand High Med. Low Total
High
Perc.
Med.
Perc.
Low
Perc.
To
1. Fenner 25 4 1 30 25 % 4 % 1% 30%
2. Pix 6 5 4 15 6 % 5 % 4% 15%
3. Omfa 20 7 2 29 20 % 7 % 2% 29%
4. Mitsubishi 1 3 2 6 1 % 3 % 2% 6%
5. Gates 5 7 3 15 5 % 7 % 3% 15%
6. Bendo 2 1 2 5 2 % 1 % 2% 5%
Total 100 100
• The maximum (25 %) dealers are of the opinion that
Fenner has highest service level.
• The minimum (1 %) dealers are of the opinion that
Mitsubishi has highest service level.
• The average or secondary (20 %) dealers are of the
opinion that Omfa has highest service level.

• The second highest (20 %) dealers are of the
opinion that Fenner has highest service level.
Graph No.6
level of services given by various brands of v-
belt.

0 5 10 15 20 25 30
Fenner
Pix
Omfa
Mitsubishi
Gates
Bendo
Brands
Percentage of Respondents
Low
Med
High
Table No.7

The table showing the percentage
of the factors responsible for dealers getting
shifted towards Timing v - belt.
opinion that new machinery requirement led to their shift
towards timing belt.
Sr. No. Factors
No. Of
Respondents
Percentage
1. Latest
Technology
30 30 %
2. New Machinery
Requirement
55 55 %
3. Easily Available 10 10 %
4. Cheap 5 5 %
Total 100 100 %

• The minimum (5 %) dealers are of the
opinion that cheapness led to their shift towards timing belt.
• The average or secondary (30%)
dealers are of the opinion that latest technology led to their
shift towards timing belt.
• The highest (55%) dealers are of the
opinion that new machinery requirement led to their shift
Graph No.7
factors responsible for dealers getting shifted
towards Timing v - belt.

0
20
40
60
Percentage
Of
Respondents
Latest
Technology
New
Machinery
Requirement
Easily
Available Cheap
Factors
Table No.8
opinions of the dealers regarding the future sales
of Timing V-Belt in New Delhi market.

Sr.
No.
Demand
No. Of
Respondents
Percentage
1. Increase 70 70 %
2. Decrease 5 5 %
3. Constant 25 25 %
Total 100 100 %
opinion that demand for timing v-belt will increase in future.
• The minimum (5 %) dealers are of the
opinion that demand for timing v-belt will decrease in future.
• The average or secondary (25 %)
dealers are of the opinions that demand for timing v-belt will
remain constant in future.
• The highest (70%) dealers are of the
opinion that demand for timing v-belt will increase in future.

Graph No.8
opinions of the dealers regarding the future
sales of Timing V- Belt in New Delhi market.
0
10
20
30
40
50
60
70
Percentage
Of
Respondents
Increase Decrease Constant
Sales

Table No.9
The table showing the percentage
requirement of Timing V- Belt in various
applications.
• The maximum (80 %) dealers are of the opinion
that requirement of timing v-belt is more in manufacturing
machineries.
requirement of timing v-belt is more in other applications.
opinion that requirement of timing v-belt is more in
automobiles.
Sr.
No.
Application
No. Of
Respondents
Percentage
1. Automobiles 15 15 %
2. Manufacturing
Machineries
80 80 %
3. Other 5 5 %
Total 100 100 %

• The highest (80 %) dealers are of the
opinion that requirement of timing v-belt is more in
manufacturing machineries.
Graph No.9
The graph showing the percentage
requirement of Timing V- Belt in various
applications.

Table No.10
Automobiles
Manufacturing
Machineries
Other
15 %
5 %
80 %

The table showing the percentage of margin
given by various brands.
Sr.
No.
Brand
Percentage Of
Margin
1. Fenner 5 %
2. Pix 10 %
3. Omfa 15 %
4. Mitsubishi 3 %
5. Gates 4 %
6. Bendo 2 %

• The maximum (15 %) margin is given
by Omfa brand.
• The minimum (2 %) margin is given by
Bendo brand.
• The average or secondary (10 %)
margin is given by Pix brand.
• The highest (15 %) margin is given by Omfa
brand.
Graph No.10
margin given by various brands.

Table No.11
Fenner
Pix
Omfa
Mitsubishi
Gates
Bendo
15 %
3 %
4 %
2 % 5 %
10 %

The table showing the percentage of media
informing the dealers about the various brands of
Sr. No. Media
No. Of
Respondents
Percentage
1. Hoarding 5 5 %
2. Electronic 6 6 %
3. Newspaper 10 10 %
4. Mouth
Publicity
72 72 %
5. Exhibition 7 7 %
Total 100 100 %
• The maximum (72%) dealers are of the opinion
that they are informed through mouth publicity.
• The minimum (5%) dealers are of the opinion
that they are informed through hoardings.
• The average or secondary (10 %) dealers are of
the opinion that they are informed through newspaper.
• The highest (72%) dealers are of the opinion that
they are informed through mouth publicity.

Graph No.11
The graph showing the percentage of media
informing the dealers about the various brands of
0
10
20
30
40
50
60
70
80
Percentage
Of
Respondents
Hoardings Electronic Newspaper MouthPublicity Exhibition
Media

Table No.12
expenditure spent on advertising by different
brands of v-belt in New Delhi market.
• The maximum (40%) expenditure is spent by
Omfa on advertising.
Sr. No. Brand Percentage
Expenditure
1. Fenner 25 %
2. Pix 20 %
3. Omfa 40%
4. Mitsubishi 5%
5. Gates 6%
6. Bendo 4%
Total 100 %

• The minimum (4%) expenditure is spent by
Bendo on advertising.
• The average or secondary (20 %) expenditure is
spent by Pix on advertising.
• The Fenner brand is in second place, spending
(25%) on advertising.
• The highest (40%) expenditure is spent by Omfa
on advertising.
Graph No.12
expenditure spent on advertising by different
brands of v-belt in New Delhi market.

0%
5%
10%
15%
20%
25%
30%
35%
40%
PercentageOf
Expenditure
Brands
Table No.13

The table showing the preferences of the
dealers while purchasing the v-belt in New Delhi
market.
• The maximum (60%) dealers are of the opinion
that quantity of belts being ordered depends on the demand.
• The minimum (15 %) dealers are of the opinion
that quantity of belts being ordered is fixed.
• The average or secondary (25 %) dealers are of
the opinion that quantity of belts being ordered is both fixed
and also ordered according to demand.
• The highest (60%) dealers are of the opinion that
quantity of belts being ordered depends on the demand.
Sr.
No.
Preferences
No. Of
Respondents
Percentage
1. Fixed 15 15 %
2. According To
Demand
60 60 %
3. Both 25 25 %
Total 100 100 %

Graph No.13
The graph showing the preferences of the
dealers while purchasing the v-belt in New Delhi
market.
0
10
20
30
40
50
60
Percentage Of
Respondents
Fixed According To Demand Both
Preferences

Table No.14
The table showing the effect of advertising
on sales of various brands in New Delhi market.
that the sale increases with advertising.
sale decreases with advertising.
opinion that sale remains constant with advertising.
Sr. No. Sale
No. Of
Respondents
Percentage
1. Increases 75 75 %
2. Decreases 5 5 %
3. Constant 20 20 %
Total 100 100 %

• The highest (75 %) dealers are of the opinion that
the sale increases with advertising.
Graph No.14
The graph showing the effect of advertising
on sale of various brands in New Delhi market.

0
10
20
30
40
50
60
70
80
Percentage
Of
Respondents
Increases Decreases Constant
Sale
Table No.15

opinions of the dealers about manufacturing of
Timing v-belt by Omfa Rubbers Pvt. Ltd.
that Omfa should manufacture Timing v-belt.
• The minimum (20 %) are of the opinion that
Omfa should not manufacture Timing v-belt.
Sr.
No.
Response No. Of
Respondent
s
Percentage
1. Acceptable 70 70 %
2. Rejectable 20 20 %
3. No Answer 10 10 %
Total 100 100 %

• The highest (70 %) dealers are of the opinion
Graph No.15
opinions of the dealers about manufacturing of
Timing v-belt by Omfa Rubbers Pvt. Ltd.

Acceptable
Rejectable
No Answer
20 %
10 % 70 %
CHAPTER No. 5
FINDINGS, SUGGESTIONS AND
LIMITATIONS

5.1) Findings:
• The highest (35%) dealers sell Fenner brand.
• The highest (35%) demand is for the Omfa
brand.
• The highest (37%) Price satisfaction is for the
Omfa brand.
• The highest (21%) quality satisfaction is for
the Omfa brand.
• The highest (50%) give preference to price.
• The highest Service level (25%) is given by
Fenner.
that new machinery requirement led to the shift of customers
that demand for timing v-belt will increase in future.

that requirement of timing v-belt is more in manufacturing
machineries.
• The highest (15 %) margin is given by Omfa
brand.
that mouth publicity informs the customers.
• The maximum (40%) expenditure is spent by
Omfa on advertising.
that quantity of belts being ordered depends on the demand.
that the sales increase with advertising.
5.2) Suggestions:
• The Omfa should increase its number of
customers to give tough competition to Fenner.

• The Omfa should improve upon its service,
otherwise it will loose its present as well as prospect
customers.
• The Omfa should concentrate more on mouth
publicity to increase its sale.
• Since, the quantity of belts being ordered
depends on demand, so unnecessary number of belts being
manufactured should be avoided.
• The Omfa rubbers Pvt. Ltd. should
manufacture Timing V- belt.
5.3) Limitations:
1) Vast Area:
The area to be surveyed was very vast. There were so
many dealers to be surveyed, and all of them were spread at
very long distances. So, locating them in a short span of time
was very tedious job.
2) Time:

Since this was a time consuming activity, so the
number of days allotted for the study were less. Lots of time
used to get wasted in traveling from one area to another area.
3) Lack of Concern:
Initially respondents showed less interest, and were
non cooperative. They used to doubt the authenticity of the
researcher. Every time the researcher had to prove the
genuineness of the study.
4) Money:
Since this project was not sponsored by any
organization, so all the expenses had to be borne by the
researcher from his own pocket. Large sum of money was
spent on traveling.
5) Appointments:
Most of the time the dealers used to be busy with their
business. Researcher had to wait for some time till the dealer
got free from his work. So, getting appointment with the
dealers was a tedious and time consuming job.
6) Communication Gap:
Some dealers were not acquainted with English
language, so the researcher had to explain each and every
question in the questionnaire in Hindi language. This caused
trouble to the researcher.

CONCLUSION
This is the market survey for manufacturing of the
new product type- Timing V-belt. There are two other brands
which are giving competition to Omfa Rubbers in supplying
the timing V-belt, But Omfa Rubbers have decided to
manufacture it so that it will have an edge over the other two
in the market.
For this purpose this survey was done and dealers
were interviewed and their views regarding the Price, Quality
and Service were taken and after proper analysis it was found
that it is feasible for the company to manufacture timing v-
belt which will give them advantage over the competitors.
Although there is requirement of better service level of the
company but the price and quality are the strong points for the
company.
This project helped me to understand the basic
practical aspects of business, before starting the
manufacturing of a new product type. It also helped me to
come closer to the practical aspects of the market.

This helped me to understand the basic psychology of
the customers when they buy belts. It helped me to bridge the
gap between theoretical and practical aspects of the business.
BIBLIOGRAPHY
Books:
1. Ramaswamy-Namkumari ,Marketing
Management.
2. Philip Kotler, Marketing Management,
Prentice-Hall Inc.
3. Marketing research by G.C.Beri.
Websites:
1. WWW.Google.Com
2. WWW.Questionpro.Com
3. WWW.Omfarubbers.Com
s

0601066 market research for manufacturing of new product type timing v-belt

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