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Smit jain i 1_mm_ver 1.2

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Smit jain i 1_mm_ver 1.2

  1. 1. Marketing Management Assignment 1Business Person 2: CarpenterName : Hiralal Mestry Business Person Age: 60 Years Education Qualification : 5th Passed<br /> PART A: BUSINESS MIX<br /><ul><li>The Business Person is in the profession from last 43 years and he produce the same products like office furniture (i.e. racks, office table, cupboard etc) and resident furniture (i.e. sofa cum bed, showcase, bed, chairs, dining set etc), and he doesn’t look to change his product line even in future.
  2. 2. The pricing of the products is based on the cost of material and even sometimes when the customer provide the material at that point of time he has to satisfy himself with labour charges only. Before he use to work as labour for other carpenter and nowadays he produce the product on his own and price them with 20 to 35 percent of margin.
  3. 3. As he is the carpenter he manufactures the product at the customer place so he has no channels or distributor to supply the goods, he directly delivers the goods at customer place and he is not looking for any fixed location.
  4. 4. As this question does not go with him because he doesn’t have a fix location he operates his business from home and on the basis of referrals and he looks for the same in future.
  5. 5. The business person promotes his business through contacts, references and customers (mouth to mouth publicity) from beginning.</li></ul>PART B: DAILY LIFE OF THE BUSINESS PERSON<br /><ul><li>As he works on contract basis he doesn’t earn on daily basis he get his contract amount on the basis of work completion (for instance if he is been provided with a work which can be completed in 5 months and his contract amount is INR 3,00,000/- then on completion of 1 month he will receive INR 60,000/- after inspection of his work that he must complete in 1 month). As he even have to provide the wages to labour which varies in the range of 150-350 per day (8 hrs shift) and overtime also according to the no of hours they work extra.
  6. 6. As the person himself is a carpenter he knows all the working so in slack season when he doesn’t have any kind of contract with him he undergoes and work under other person to earn his livelihood. And the time when he has work in hand at that point of time he has to make labour work fast so that the work can be completed in short span of time and he has to pay less wages to labours. During the time of rainy season they have the chances of wood swelling or expanding so they try of not maintaining the stocks, they follow the just in time strategy for overcoming the losses.
  7. 7. He doesn’t goes for money rotation as the material is been provided by the customers itself and the wages to the labour are provided on monthly basis directly borrowing from the customer and providing the wages but even then sometimes if the money is not provided by the customer before completion of work and all the expenses are to be barred by the carpenter itself at that point of time he work out with his saving.
  8. 8. As it is explained before the carpenter does not keep stock he follow the just in time method all the materials are bought from the market when it is needed.
  9. 9. The Daily Schedule of the Business Entity
  10. 10. 10.00 am reaches at work place
  11. 11. 1.00 pm lunch break
  12. 12. 2.00 pm back to work
  13. 13. 6.00 pm leave if there is no urgent work.
  14. 14. 9.00 pm leave after completion of all working (overtime)</li></ul>PART C: BUSINESS AND ITS IMPACT <br /><ul><li>As the business person he is in same field from last 43 years he is known for his better design, good working and completion of work in the time period provided. As he worked under different person till the age of 50 and then he started taking work on his own basis and the 33 years of experience has built confidence in himself, and after 10 years of working on his own he has so much of reference that he can make the work on his own and earn his livelihood.
  15. 15. The impact of the business on society is related to his business itself like he provide service even after handing over the furniture to customer if there is any nominal fault he makes it out for free and even if it does not work he charge the nominal fees for it.
  16. 16. The amount of work he get and the no of contract he receives in a year.
  17. 17. Goodwill, chemicals for wood care, better material for manufacturing of furniture, power cut-off in Vasai-Virar region, all this effect the productivity of product.
  18. 18. He promotes his work through reference, officials, and mouth to mouth publicity.</li></ul>PART D: THE MARKET <br /><ul><li>The person who supplies goods to the business person are nearby stores and hardware stores.
  19. 19. Basically the competitions are from local contractors and the readymade furniture suppliers.
  20. 20. The better technologies and new machine for carving, designing, bending and various other working of which make the work zero defect.
  21. 21. Readymade furniture, steel furniture, and various other furniture products are available in market as a substitute for wooden furniture.</li></ul>PART E: BUSINESS DIFFRENTIATOR AND CREATORS<br /><ul><li>As a Carpenter he tries to make low customer loss, he not even look for the labour expenses but provide better design with the help of skilled labour due to which people prefer to give him work and he even try to go for delighting customer with better carving and artisans work.
  22. 22. As he is a contract worker he has a contact with big builders where he goes for better designing and they don’t even look for expenses as the product is long term and well designed, so the customers are regular but not of short span, but whenever any work of furniture arise they contact the same person.</li></ul>SWOT Analysis<br />StrengthAvailable with Skilled LabourGood ContactsGoodwillWeaknessesLow CapitalLow of TimeLimited contract undertaken at particular period of timeOppurtunityLots of Project PendingReferrals are waitingThreatCompetitor availableSubstitute products availableCustomer getting diverted<br />TWOS Analysis<br />STRENGTHS:1.Limited Availability with Skilled Labour2.Good Contacts3.GoodwillWEAKNESS:1.Low Capital2.Low of Time3.Limited contract undertaken at particular period of timeO-OPPURTUNITIES:1.Lots of Project Pending2.Referrals are waitingSO-STRATEGIES:He has work Waiting for him but can’t Complete (S1, O1)He Can have Work in Continuation (S2, O1, O2)WO-STRATEGIES:Can hire new Labour which may help him to Undertake New Projects (W3, O1, O2)New Labour may decrease his work load and increase his revenue (W1, O1, O2)THREATS:1.Competitor available2.Substitute products available3.Customer getting diverted ST-STRATEGIES:The Contacts may not entertain other competitor (S2, S3, T1)If a customer can wait he will come to him (S3, T3)WT-STRATEGIES:If customer are not responded they may go for substitutes (W2, W3, T2, T3)The Long run customers can also go for other competitor (W1, W2, W3, T1)<br />

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