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Market potential survey for low temp. absorption refrigeration system in western region


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Market potential survey for low temp. absorption refrigeration system in western region

  2. 2. Market Potential Survey for Refrigeration System 2 Every project has a number of persons involved in it, some directly others indirectly. Everyone has contributed to its success; the critics who spur you into action with renewed enthusiasm and the supporters who steadfastly encourage you all through till the end. I would like to take this opportunity to express my gratitude for all those who provided valuable criticism, appreciation and guidance to make this project a success. I thank Mr. John Jacobs my Training Coordinator,THERMAX for the project, whose inspiration, whose sharing of anecdotes to exemplify the advice he would give, helped me see through this project swimmingly. I thank Prof Mrs. Sohani my Project Guide for her guidance, motivation and attention. She was very much approachable with all my doubts! It was indeed a privilege to have done my project at METRIC CONSULTANCY LTD. The learning experiences at at METRIC CONSULTANCY LTD are something that I would cherish for the rest of my life. Having worked in this corporation gives me the confidence and an outlook out of the box much needed before I take steps in the professional world. DEVENDRA SHENDE
  3. 3. Market Potential Survey for Refrigeration System 3 Table of Contents Sr. No. Particulars Page No. 1 Executive Summary 1 2 Introduction to Project 3 3 Objectives Of Project 5 4 Company Profile 6 5 Product Profile 13 6 Research Methodology 16 7 Summer Training Schedule 22 8 Data Analysis 23 9 Findings 32 10 Inferences and Recommendations 34 11 Conclusion 35 12 Bibliography 35 13 Annexure-1 37 14 Annexure-2 42
  4. 4. Market Potential Survey for Refrigeration System 4 CHAPTER 1 EXECUTIVE SUMMARY Metric Consultancy ltd. is one of the leading market research firms in India. Thermax is the client of Metric Consultancy Ltd., have been contracted with the metric for this market Potential Survey.This project has been carried out in order to check the market potential for the Low Temperature Ammonia Vapor Absorption Refrigeration systems for the range of 290 to 70 0 C . This product is an industrial system, which is used, in various manufacturing industrial sectors to maintain the desired temperature. This project was successfully accomplished within the stipulated time. The main objective of this project was to know the market potential for the Low Temperature Ammonia Vapor Absorption Refrigeration systems in an Industrial Market. The study is divided in four parts. The first part containing a pilot survey for the project in Pune region which tries to check and modify the questionnaire, observe the industrial users are responses should match with the requirement and objectives of the project. The Second part deals with a structured questionnaire, which tries to check market potential for Low temp. Refrigeration systems (LTRs) and other technical details involved in the project. The third part deals with a detailed analysis of the obtained data. The fourth & the most important part is to recommend the suggestions to the company. Despite having fairly large share of traditional system user segment, the advanced users are many. The reasons can be many, but the main reason is the process requirement and technological effectiveness. This project tries to explore the possibilities of such industrial users, which will be prospective customers for the Thermax.
  5. 5. Market Potential Survey for Refrigeration System 5 With growing awareness amongst the industrial sector in selecting Ammonia Absorption Systems it has become very essential to develop a product that suits the requirement of the Indian industry. This product if developed will lead to tremendous cost savings in every way. The data is collected, analyzed and presented in the tabular form and then graphical representation is done for ease of understanding. On basis of interpretation of data conclusion is made and suggestions are put forward at the end.
  6. 6. Market Potential Survey for Refrigeration System 6 CHAPTER 2 INTRODUCTION TO THE PROJECT The economy of this country got liberated in 1992, with this liberalized economy came many multinationals to market their products to Indian consumers. This liberalization touched the industrial product users as well. These companies not only competed but also left the industries far behind. They did this with the help of advanced technology and aggressive marketing. All this led to tremendous competition and it was very difficult for the Indian industries to sustain it. No sector was spared from this phenomenon. The Refrigeration industry is one such industry. From a long time traditional mechanical compression systems have dominated this industry. Industrial Refrigeration systems are used generally to maintain the desired temperature of process in various industries.Within liberalization the trends started to change very quickly, the international players crowded the industrial market with the advanced and efficient refrigeration systems. Like the change in the Indian industry there was also a change in Indian buyer behavior. All the buyers needed to search for the effective and efficient technological systems.These companies mostly using traditional systems which are not that technologically efficient. New trends in Industries are started to adopt the absorption systems than the conventional systems. It is very subjective matter to adopt the absorption systems as some process requirement much compatible with the compression systems. This scenario still exits and so it forms the seed to this project. Observations have shown that there is a yawning gap between the quality of industrial products and the Indian industrial
  7. 7. Market Potential Survey for Refrigeration System 7 requirements. There is a need to develop the paradigm shift from the traditional systems towards the absorption systems which are costly but Environment friendly. It has also been analyzed that every industry spends a huge amounts on the refrigeration systems once . These type of systems mostly specially made to order type. But There are another players in the market like Thermax which provides the Standardized products and specification which are very cost effective solutions. This project emphasizes on those industrial users in the market which are congruent with the standardized product specification. Initial surveys have shown that every company spends a sum of around 1.5 Crore to 5 Crore or more per refrigeration system. The cost of maintenance may vary. In this project it is essential to find the probable segments where it can be used and most prospective industrial segment which can be used Ammonia LTRS. The data is collected, analyzed and presented in the tabular form and then graphical representation is done for ease of understanding. On basis of interpretation of data conclusion is made and suggestions are put forward at the end. Scope & Importance: - Refrigeration Systems are used generally in various manufacturing industrial sectors. So the project was related to those industries which might use the refrigeration systems in that critical temperature range. Project was related to know, whether industries required this kind of refrigeration systems and to check whether they will position to replace from traditional Mechanical Compression refrigeration systems to the Absorption systems. Our basic emphasize in knowing whether is there any place for Low Temperature Ammonia Vapor Absorption Refrigeration systems for the range of 290 to 70 0 C in an industrial market and finding the probable industrial market in which it can be used i.e. check the feasibility of product. Limitations: - Due to constraints the study is limited towards only in Maharashtra and North Region
  8. 8. Market Potential Survey for Refrigeration System 8 Survey is conducted only in industries; hence it is an industrial survey. This survey carried out only for those industrial sectors in which refrigeration can be used. This survey is limited only for the product users, consultants and Suppliers are not covered in this survey. CHAPTER 3 OBJECTIVES OF THE PROJECT Thermax is market leader for providing the Refrigeration systems to industrial users between 0 to 29O C. They are already manufacturing the refrigeration systems in that respective segment. They want to enter in that particular critical segment. There might be other manufacturer for this critical range i.e. provides the tailor-made products in that critical range as per requirement. The main objective of the project was to conduct the survey to know the market potential of this new product Low Temperature Ammonia Vapor Absorption Refrigeration systems for the range from 100-1600 TR in the temperature range of 290 to 70 0 C in an industrial market & analyzing the findings for product improvements. Following are the objectives of the project- Most attractive segment Finding most attractive industrial sector which may use this type of refrigeration system. Major Factors considered in the selection of the LTR systems Opportunities for the waste heat recovery Key decision Makers in purchasing refrigeration system in industry Methodological Procedure the for the purchase of the product Importance Attached to product performance and reliability as compared to price Awareness of the Ammonia Absorption system Estimation of future potential users of AVAM in next five years
  9. 9. Market Potential Survey for Refrigeration System 9 CHAPTER 4 COMPANY PROFILE METRIC is a leading Consultancy firm and carved out a special position for itself as a source for value added research. METRIC was established in 1989, as a partnership firm by Dr. Anand Karandikar and Dr. Ameeta Deshmukh. In 2000 it became a public limited company with a high-powered team of Senior Consultants with long-standing experience in both line marketing and research, supported by consultants and research officers. In 2002 METRIC went international when it franchised its research model MOSTER to worldwide Market Research agencies. MOSTER is now being used in 20 countries around the globe. METRIC provides all support to its international partners including proposal making, questionnaire design, analysis and professional presentation.To assist organizations to implement strategic change for the competitive edge, METRIC began a full-fledged training department.In 2003 METRIC expanded its operations to providing skilled and trained manpower in market research to its partners worldwide. METRIC has its head office in Pune with a modern computerized data processing system and a large library with over 2000 reference volumes. The firm has an all-India data collection network, with branch offices located in Delhi, Bangalore, Ahmedabad, Chennai and field offices in Jamshedpur,Hyderabad and Lucknow. At METRIC, the simple norm used to judge the quality of deliverables is: "Whether our contribution has helped the client to increase sales and/or profitability". METRIC has a diversified and varied team with specializations in: Customer value management Econometrics Direct Marketing Channel Management Psychometric evaluation
  10. 10. Market Potential Survey for Refrigeration System 10 Statistical Analysis Interpretation Forecasting Business Strategy Corporate Governance . And much more Global Presence: METRIC works with market research agencies in 16 countries in applying MOSTER as well as other specialized studies. The franchisees consult METRIC for design of the survey, data analysis and interpretation. PR China Sino Marketing Research Ltd. CBC Marketing Research & Business Consulting Diag Aid Marketing Research Kenya Research Solutions Ltd. Italy Metron S.r.I. Argentina Leventer Group S DE RL DE CV New-Zealand Key Research & Marketing Portugal Consulmark Bulgaria
  11. 11. Market Potential Survey for Refrigeration System 11 Market Test Ltd. Germany Psyma Marketing Research Gmbh Canada The Dunvegan Group Indonesia PT DEKA Marketing Research Mexico Market Sciences USA Dimension Research Inc. Brazil Leventer Group S DE RL DE CV Thailand Infosearch Limited Thailand Market Support Co.Ltd. Gulf Countries PAN Arab Research Center Services Metric Consultancy is research based resulting in customer centric solutions - aimed at maximizing their value. METRIC consultants have long 'line' expertise in marketing and selling which are practical and easy to implement.
  12. 12. Market Potential Survey for Refrigeration System 12 Metric s major contributions are in the areas of Comprehensive channel architecture Direct marketing systems for high value consumer durables Customer value management for increased customer loyalty Overcoming farmers' risk aversion to facilitate technology transfer New product development and new product launch Organizational restructuring for marketing excellence Corporate governance through effective process designs Other Proprietary Models Readership behavior studies Corporate Image Competitive scenario mapping Demand forecasting Tracking market mood through consumer panels Clients: BPL Whirlpool Cognizant TVS Honda SPIC Rallis Novartis Ranbaxy LML BILT EID Parry Daewoo Thermax Kinetic TI Cycles KSB Pumps Mercedes Benz
  13. 13. Market Potential Survey for Refrigeration System 13 TATA Steel Bajaj Tempo VSNL TATA Motors BPCL Swaraj Mazda GlaxoSmithKline Cummins Auto TQMS Bank of Maharashtra Hindustan Petroleum Kirloskar Oil Engines Larsen & Toubro Yamaha L&T John Deere HSBC Bank HMT Machine Tools Indian Oil Carborundum Universal ICPA Honda Motorcycles & Scooters Metric s Proprietary Models 1 ) MOnitoring Satisfaction To Ensure Retention (MOSTER) Delight your customers MOSTER is a robust research methodology to diagnose and quantify the path to customer delight. Based on the models of Herzberg and Noriaki Kano, MOSTER is being used in 22 countries around the world. MOSTER classifies attributes of your product or service into those that create delight and those that if not provided will create dissatisfaction and calculates The ability of an attribute to create satisfaction or delight How well the attribute is rated on a product or brand Sensitivity of each attribute to effect change in customer perception MOSTER - gives actionable results, which guarantees delight 2) LOCATE LOCATE is a scientific methodology for choosing the BEST city, the BEST area and the BEST location for your retail shop. After marking all possible location, an estimation is made about the potential of the area to attract customers through a complex field investigation that includes traffic count, study of arterial roads etc.
  14. 14. Market Potential Survey for Refrigeration System 14 3) E- Sat E-Sat identifies how to retain your best employees Because competent people leave if they are dissatisfied Incompetent people do not leave even if very dissatisfied Because good people leave even if satisfied because they want delight at their workplace And only good people can build great companies E- Sat is based on the models of Herzberg and Noriaki Kano, and is being used in 22 countries around the world. 4) A CREDIT RATING INDEX (CRIDA) Provides an objective basis of Credit Volume Establishes tighter process controls for credit management Redeploys your credit resources more profitably Assessment of creditworthiness of market dealers is a complex and challenging task. A dealer's business contains substantial informal resource flows, which are difficult to quantify and inspect. The assessment process is expensive and time consuming because of the large number of assesses. METRIC's model CRIDA is based on the conceptual frame Work that Creditworthiness is a manifest attribute of dealer's business behavior and is closely dependent on his management practices. CRIDA measures a dealer's credit worthiness by collecting authentic and reliable data on various aspects of his business management practices. An index of creditworthiness so constructed to provide authentic & cost effective inputs for future credit management. Aspects of management Practice that are constituent variables for the Index of Creditworthiness (I c/w )
  15. 15. Market Potential Survey for Refrigeration System 15 1.Nature of organization 2.Form of organization : 3.Goodwill in the market place 4. Leadership 5. Owner's age and profile of close family members 6. Relationship with bankers 7. Composition of working capital 8. Trend in business 9. Efforts at sales promotion This list is only illustrative. It is expanded and refined through initial qualitative study & discussions with the client. A combination of direct survey and observation based methodology is employed for data collection. CRIDA also estimates the volume of credit that can be extended by estimating the dealer's Sales Potential, Brand Commitment to Company and past history regarding his financial transactions with company. CRIDA helps in evaluating and developing better Credit policies for your company. 5) De Matrix - For effective Dealer Management A model to segment dealers and for channel development. In India today, there is a great diversity in the nature of dealers. Without a clear strategy dealers could develop a very short term view of their relationship with the company and adopt 'street smart tactics' to gain maximum profits in the shortest possible time. With DE MATRIX Dealers are segmented so that specific need identification can be done. Dealer development strategies are formulated to fulfill dealer needs in a comprehensive and focused manner.
  16. 16. Market Potential Survey for Refrigeration System 16 . CHAPTER 5 PRODUCT PROFILE The key product of Thermax Ltd. Company is an industrial refrigeration system. These refrigeration systems are made, as per the industrial standards Thermax products are the brand in the industrial market. What is a Refrigeration System Refrigeration is defined as the transfer of heat from a lower temperature region to a higher temperature one. Refrigeration devices that produce refrigeration operate using the vapor- compression cycle (reversed Carnot cycle) or vapor absorption system. Some examples of refrigeration devices are heat pumps, refrigerators, automotive air-conditioners, and residential/commercial air-conditioners. All of these devices have one thing in common, to reduce the temperature of an enclosed environment. The ammonia absorption cycle was one of the first methods employed for the production of refrigeration. Original invention consisted of a direct fired generator, a condenser, an evaporator, an absorber, and an aqua ammonia pump, all of which with many improvements remain the principle parts of an ammonia absorption system. At this date however, reciprocating machines had not been developed to the point where they could approach the compression ratios required for low temperature applications and ammonia absorption found its place in the refrigeration industry despite its disadvantages. . In the middle thirties, improved ammonia absorption systems were installed which would operate on Waste Steam, Waste Heat, or by Direct Firing with Natural Gas or other gases. These systems employed bubble column design and spray type absorbers and provided ammonia at
  17. 17. Market Potential Survey for Refrigeration System 17 99.96% purity for refrigeration duty. This advance in technology, which provided the high purity (commercial grade) ammonia, overcame the major operating problems of the early systems. The AAAR AQUA AMMMONIA ABSORPTION REFRIGERATION SYSTEM, as conceived by Lewis Energy Systems Inc. features several new concepts. Among these are an ammonia refrigerant liquid to gas heat exchanger and greater utilization of the rectification column which have further improved the system efficiencies. New and improved control systems are also available to maximize the utilization of valuable heat sources. The GENERATOR-REBOILER is considered to be the heart of the LEWIS AAAR SYSTEM. It receives strong aqua, (preheated in the AQUA HEAT EXCHANGER) as primary feed and also the returns from the DISTILLATION COLUMN. Steam or any other type of heat available heats this strong aqua and DISTILLATION COLUMN return. This causes a part of the ammonia within the aqua to be vaporized. This vapor flows to the DISTILLATION COLUMN entering below the bottom tray. The weak aqua is taken from the low end of the GENERATOR REBOILER and heat exchanged with the strong aqua coming from the STRONG AQUA RECEIVER. The DISTILLATION COLUMN utilizes bubble trays to distill the ammonia (strip it of all of its water vapor). Enough strong aqua is fed into the column at one or two predetermined plates to bring the plates into equilibrium, with the balance directed to the GENERATOR- REBOILER. Pure anhydrous ammonia is fed to the top plate from the AMMONIA RECEIVER which receives condensed liquid ammonia from the AMMONIA CONDENSER. This rectification provides 99.96% ammonia vapor to the AMMONIA CONDENSER. The AMMONIA CONDENSER condenses the vapors from the DISTILLATION COLUMN using primary water. The condensed anhydrous ammonia flows to the AMMONIA RECEIVER. The receiver is sized to provide surge for ammonia volume variations caused by load changes in the system. Two REFLUX PUMPS (100% spare) are employed to pump liquid NH3 from the AMMONIA RECEIVER to the top tray of the DISTILLATION COLUMN. If the CONDENSER is high enough in the structure these pumps can be eliminated. Ammonia is fed to the
  18. 18. Market Potential Survey for Refrigeration System 18 EVAPORATOR at the pressure which corresponds approximately to that of the ABSORBER pressure and vaporizes as it absorbs heat from the cooled liquid or process gas. The LEWIS AQUA AMMONIA ABSORPTION REFRIGERATION SYSTEM is made completely made an slight edge over mechanical compression systems- 1) Low Maintenance 2) Maximum Reliability 3) Low Cost Installation 4) Low Noise level 5) Completely Automatic Operation 6) Operational Flexibility 7) Design Flexibility 8) Oil Free Refrigeration System
  19. 19. Market Potential Survey for Refrigeration System 19 CHAPTER 6 RESEARCH METHODOLOGY Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company. Marketing research is a research carried out in a particular market. The study is done with a set objective, maybe for the reason to analyze consumer for the introduction of new product, study of distribution channels or for that reason, any problem in the field of marketing. The market research is complete only when proper analysis is carried out with the help of the relevant information and the solution fulfilling the objective is identified. Before embarking on the details of information collected, it is appropriate to present a brief view of the research process. Research process consists of series of actions or steps necessary to effectively carry out the desired sequencing of these steps. The figures attached will illustrated a typical research process. Following orders of steps to be taken provide useful guidelines regarding the research process: 1. Formulating the research problem. 2. Extensive literature survey. 3. Preparing the research design. 4. Questionnaire formulation. 5. Determining the sample design. 6. Collection of data. 7. Analysis of data. 8. Interpretation of data.
  20. 20. Market Potential Survey for Refrigeration System 20 1. Formulating the research problem At the very outset of the research it was important to single out the problem to be studied. Essentially, to steps were involved in formulating the research problem. Understanding the problem thoroughly Rephrasing the problem into meaningful terms from an analytical point of view The research problem in case of this project is as follows: To find out the market potential for the probable industrial users Discussion with the various industrial experts. To find the customer s awareness about this vapor absorption refrigeration systems. To find the various technical comfortability of the product in the field. 2. Extensive literature survey The best source of literature is the library. In the book of Philip Kotler as well as other books the subject has been dealt extensively. There are at least five to six steps are covered in market potential survey. Metric has provided with extensive books on various management issues. 3. Preparing the research design. After defining the problems clearly, the next step is to plan & design the research. It is the arrangement of condition for collection and analysis of data in a manner that aims to the research purpose with economy in procedure. The preparations of research design appropriate for a particular research problem involve usually the consideration of the following: The means obtaining the information.
  21. 21. Market Potential Survey for Refrigeration System 21 Evolution of the way in which selected means of obtaining the information will be organized and the reasoning leading to the selected. The cost factor relating to the research. A segment survey of around 35 industries on basis of these industries I was able to formulate the complete research. 4. Questionnaire formulation Questionnaire is considered as the core part of the survey and should be constructed very carefully. An insufficient and incorrect questionnaire leads to total failure of the survey Structured questionnaire were used. Questions were definite, concrete and predetermined .The questions were either open or closed ended for response. Structured questionnaire is simple to administer and relatively inexpensive. 5. Determining the sample design When field studies are undertaken in particle life, consideration of time and cost almost invariably lead to a selection of respondents. The respondents selected are the representatives of the representatives of the total populations. The selected respondents constitute what is technically called a sample . The survey is sample survey . Sampling Plan a) Sampling Unit- Sampling Unit indicates the people or subject that is selected for particular research. The purchase managers/executives, Engg. Managers of the leading companies in Pune were selected. b) Sample Size- Sample size indicates the number of respondents that are selected for particular research. A sample size of 35 companies from Maharashtra and Norhthen india region.
  22. 22. Market Potential Survey for Refrigeration System 22 c) Sampling Procedure- Sampling Procedure indicates the manner in which particular respondents were selected. The main criteria for selection of respondents that every sectors covers all types of variety users i.e. from top industries to small scale industries and their ratio is maintained such that sample represents the whole sectors response. As far as users are concerned, the users are selected on the basis of their annual turnover of user , the list provided by the THERMAX for his project. d) Geographical unit - Area that was surveyed was Maharashtra and North India which covers all industries for which we are targeting the whole project. 6. Collection of data This stage of any research consists of collection of the required data from the sample decided upon. As it is an exploratory research concerning the customer perception in data collection calls for the primary source. Data source Primary data Primary data has been collected from industries. Extensive survey is done to get the maximum information about the trade. No one could have better knowledge of customer s perception. On the other hand customer is the most reliable source of information. Secondary data The information related to the industry is gathered from company brochure, technical manual, periodicals, newspaper, and different magazines. Besides this the company executives provided help and assistance to understand the basic of refrigeration industry. 7. Analysis of data
  23. 23. Market Potential Survey for Refrigeration System 23 After the data is collected, and then comes the crucial task of analyzing them. The analysis of data required number of closely related operations. This task contains the use of analytical skills , interdependence of the various attributes involved in the research and their impact on the research. 8. Interpretations of data The real value of research lies in its ability to draw conclusions. Infact, this stage is the one for which has been designed. Information based on real facts & the systematic collected data was made available in this stage. RESEARCH DESIGN Research design is the overall description of all the steps through which the project has proceeded from the setting of the objectives to the writing of the project work Below are the various steps in brief of the research design for this project. Pilot Survey: Pilot Survey was designed in Pune region to give an overview of the research and to check whether industrial technocrats are responding that we needed. It might be possible some industries are not in position to co-operate and not in position to leak the confidential information and to modify the questionnaire if needed some welcome suggestions. The Initial draft is prepared which covers variety of technical aspects then latter modified with the discussion with the industrial experts and Thermax technical experts. The Implementation of the Pilot Study was very crucial in this project, the whole professional aspect depended on it, as it reflects the degree of fulfillment of objectives of project . It played an important role because the persons interviewed were one of the senior key managers from various departments in the industries.
  24. 24. Market Potential Survey for Refrigeration System 24 Research Instrument: An ideal research instrument must ensure reliability of data that are collected. A well designed questionnaire was the main research instrument used in this particular project. While some of the questions were open ended some were close ended too. Questions were designed to obtain the information about- Most attractive segment Finding most attractive industrial sector which may use this type of refrigeration system. Major Factors considered in the selection of the LTR systems Opportunities for the waste heat recovery Key decision Makers in purchasing refrigeration system in industry Methodological Procedure the for the purchase of the LTR System Importance Attached to product performance and reliability as compared to price Awareness of the Ammonia Absorption system Estimation of future potential users of AVAM in next five years Interview planning: - Interviews were planned as per planned schedule i.e. it was expected to finish the sample size within stipulated time. Most probably it depends upon the getting appointment of that senior managers. A necessary precaution was taken to make the interview the various departmental heads and full information we ,quit meaningful to attain the objective. Processing, analysis and interpretation of collected data: - In this stage all the data collected were checked for any inconsistencies. This step proves quite useful to remove or cross check any incorrect data which otherwise may prove factual during analysis. From the analysis the interpretation was possible and the various problems, which was required to be explained, can be elucidated. Finally the report containing all details was designed.
  25. 25. Market Potential Survey for Refrigeration System 25 All matters discussed above have constituted the research design that was followed i CHAPTER 7 SUMMER- TRAINING SCHEDULE The project has to be completed in a period of eight weeks. Before actual commencement of the project, time-schedule was prepared. It was as follows: week Operations 1 2 3 4 5 6 7 8 Introduction about company Basic knowledge about Refrigeration Systems Introduction to the project Brainstorming about project Making Questionnaire Pilot Plant Survey and Quest. Modification Industrial survey Analysis & interpretation of data Preparation of rough draft Discussion with project guide Finalization of project
  26. 26. Market Potential Survey for Refrigeration System 26 CHAPTER 7 DATA ANALYSIS & FINDINGS TABLE 1. Most Attractive industrial Segment Name of the Industry Segment % of Respondents willing to go for AVAM Bulk Drug (Pharma) 50 Fish Processing 100 Dairies 50 Cold Storage 100 Biotech 60 Meat Processing 100 Ice Cream Plants 80 Fertilizer Plants 25 Refineries 25 Petrochemicals 50 Pesticide Plants 80 Food processing 50
  27. 27. Market Potential Survey for Refrigeration System 27 Most Lucrative Industrial Segment 0 20 40 60 80 100 120 1 Industry Segment %ofpotentialofAVAM Bulk Drug (Pharma) Fish Processing Dairies Cold Storage Biotech Meat Processing Ice Cream Plants Fertilizer Plants Refineries Petrochemicals Pesticide Plants Food processing TABLE 2 .Preference of the customer while they buy the AVAM system Attributes No. of companies No odor nuisance 3 Electricity cost 12 Maintenance cost 9 Simple to operate 3 Few moving parts 1 After sales service 5 Less Manpower 3 Less Space 8 Reliability of Product/techno/supplier 3 Availability of Spares 2
  28. 28. Market Potential Survey for Refrigeration System 28 Few moving parts 2% Simple to operate 6% After sales service 10% Maintenance cost 19% No odor nuisance 6% Availability of Spares 4% Reliability of Product/techno/suppli er 6% Less Manpower 6% Less Space 16% Electricity cost 25% No odor nuisance Electricity cost Maintenance cost Simple to operate Few moving parts After sales service Less Manpower Less Space Reliability of Product/techno/supplier Availability of Spares TABLE 3 . Opportunities for the waste heat recovery Source Percentage of the industries using the Waste heat Recovery Boiler Condensate Recovery 80 Exhaust gases from processes 40 Exhaust gases from DG Sets/Gas Engines 60 Jacket from DG Sets/ Gas Engines 20 Effluent Discharge 20 Flared Heat Capacity (only in Refineries) 100
  29. 29. Market Potential Survey for Refrigeration System 29 Oppurtunities for the waste heat recovery 0 20 40 60 80 100 120 1 Boiler Condensate Recovery Exhaust gases from processes Exhaust gases from DG Sets/Gas Engines Jacket from DG Sets/ Gas Engines Effluent Discharge Flared Heat Capacity (only in Refineries) TABLE 4 . Key Decision Makers Authority Percentage Board of Directors 35 General Manager 35 Maintenance Department/ Engineering Department 15 Mixed 15
  30. 30. Market Potential Survey for Refrigeration System 30 . TABLE 5. Methodology for the Purchase of AVAM Attribute Yes No Appointment of Consultants 60 40 Public Invitation for Consultants 80 20 Systematic Method for short listing 40 60 Floating of tender 50 50 Key Decison Makers Board of Directors 35% Mixed 15% Maintenance Department/ Engineering Department 15% General Manager 35%
  31. 31. Market Potential Survey for Refrigeration System 31 Methodology for the Purchase of AVAM 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Appointment of Consultants Public Invitation for Consultants Systematic Method for short listing Floating of tender No Yes TABLE 6 Sources of Information Source of information Contribution Books and periodicals 10 Consultants 20 Other users of refrigeration plants 40 Through attending seminars and exhibitions 10 Internet 10
  32. 32. Market Potential Survey for Refrigeration System 32 Others 10 Contribution Through attending seminars and exhibitions 10% Internet 10% Others 10% Books and periodicals 10% Consultants 20% Other users of refrigeration plants 40% TABLE 7 - Comparative Analysis for the Importance of each Attribute
  33. 33. Market Potential Survey for Refrigeration System 33 Comparitive Importance Analysis 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Bulk Drug (Pharm a) Fish ProcessingD airies C old StorageBiotech M eatProcessing Ice Cream Plants FertilizerPlants R efineries Petrochem icals Pesticide Plants Food processing Price Reliability of the product / technology supplier Product Performance Sectors/ Aspect Product Performance Reliability of the product / technology supplier Price Bulk Drug (Pharma) 60 20 20 Fish Processing 20 20 60 Dairies 50 20 30 Cold Storage 40 20 40 Biotech 70 15 15 Meat Processing 20 30 50 Ice Cream Plants 40 30 30 Fertilizer Plants 50 15 35 Refineries 30 20 30 Petrochemicals 40 30 30 Pesticide Plants 50 25 25 Food processing 25 50 25
  34. 34. Market Potential Survey for Refrigeration System 34 TABLE 8 Awareness Of AVAM while they buy Product Attributes No. of Companies Reliability 25 Ease of operation 20 Purchase Cost 5 Running Cost 10 Frequency of Breakdown 5 Awareness of AVAM Purchase Cost 8% Running Cost 15% Frequency of Breakdown 8% Ease of operation 31% Reliability 38% TABLE 9 Future Potential of AVAM
  35. 35. Market Potential Survey for Refrigeration System 35 Attributes No. of Companies Expansion of existing plant 20 Installment of New Plant 10 Replacement of existing plant 5 Future Potential of AVAM Installment of New Plant 29% Expansion of existing plant 57% Replacement of existing plant 14% CHAPTER 11 FINDINGS From data collected from survey followings are the findings- 1) Most Attractive Segment
  36. 36. Market Potential Survey for Refrigeration System 36 Most Lucrative - Fish Processing, Meat processing, Cold Storage Lucrative - Ice Cream, Pesticides, Biotech Less Attractive - Pharma, Dairies, Fertilizers, Refineries, Petrochemicals, Food Processing Most Lucrative segments are those which a sector in which production process operates below -40 O C and Lucrative are those which operates from -25 to -40 O C. Less Lucrative Sectors are those in which production process varies from industry to industry and process requirement changes from industry to industry. 2) Customers Preferences Very Vital - Electricity Cost,Maintainance cost, Less Space requirement Vital After Sales service Less Vital - Less Manpower, Reliability,No odour Nuisance, Availibility of Spares, Simple to operate, Few moving Parts 3) Most Attractive Energy Optimization Techniques Most Attractive : Flared Heat Capacity, Boiler Condensate recovery. Attractive : Exhaust Gases from DG Sets Less Attractive : Effluent discharge, Jacket from DG Sets. Exhaust gases from Process. 4) Key Decision Makers Board of Directors and General Manager hold the key for purchase of refrigeration Systems 5) Purchase Methodology- General Trends - Appointment of consultant, Public Invitation for the Consultant Off Trends - Systematic Method for Shortlisting, floating of Tender 6) Sources of Information Major- Industrial Users, Consultants Minor Internet, Books Periodicals, Seminars and exhibitions 7) Comparative Importance Analysis- Various industries have different priorities as per their requirement- 1 ) Price - Fish Processing,meat processing,Refineries
  37. 37. Market Potential Survey for Refrigeration System 37 2) Reliability of Product and services- Food Processing, Ice Cream Plants 3) Product Performance Biotech,Bulk drug, Fertilizer and Pesticide, Petrochemcials , Dairies, Refineries, cold storage 8) Awareness of AVAM Reliability and Ease of Operation are the major positive point that industrial users know about the product Market is well aware of the Ammonia Absorption Refrigeration System. 9) Future Potential of AVAM Majority of the AVAM Users are targeting for expansion of existing equipment CHAPTER 11 INFERENCES & RECOMMENDATIONS FOR THERAMX
  38. 38. Market Potential Survey for Refrigeration System 38 Company should target most lucrative and lucrative industrial segment & design their product mostly suitable for those sectors Company should consider the careful attention towards Electricity Cost,Maintainance cost, Less Space requirement and After Sales Service as these are the most attractive preferences of the users. Company should consider the Boiler Heat recovery, Exhaust gases from DG sets and processes from design point of view of AVAM. Company should create and maintain good relations and have in continuous touch with these top management people from industry Company should be promote their product in the industrial consultant group and advertised product through proper channels Company should promote their product by giving best through their product and services to build a loyalty and brand awareness. Different industries have different priorities so product should be of optimum mix of Price, Reliability and Product performance. Majority of industries are interested in replacement and expansion of existing plant if Company is planning to make out retrofitted model in compression system or exchange of Mechanical system by AVAM then it might be huge market fro the company CHAPTER 12 CONCLUSION In today s market most of the industrial users are using the mechanical compression system; relative market share for the AVAM is negelible. Most of the industries are well
  39. 39. Market Potential Survey for Refrigeration System 39 aware of the AVAM and have trend towards adoption of the New Absorption technology. Thermax had created the brand in the market for the refrigeration system operating below 0 O C to -29O C and one of the major player in the market. There is huge potential for the Ammonia Absorption Refrigeration system especially in the some niche industrial segments. At this age the industries are about to shift from mechanical compression to absorption system provided they have proper solution provider for their existing problems From this industrial study it can be concluded that this product is having large scope in Indian market at least for next 8 - 10 years. CHAPTER 13 BIBLIOGRAPHY 1) Kothari C R : Research Methodology, 2nd Edition, Wishwa Publication,
  40. 40. Market Potential Survey for Refrigeration System 40 1997, Page Nos 99-100,117-150, 403-422 2) Kotler Phillip : Marketing Management, 9th Edition, Prentice Hall of India Pvt. Ltd., New Delhi, 1997, Page Nos 113-1 Questionnaire No. Survey of Low Temperature Refrigeration (LTR) application in INDIA (Range 25o C to 70o C) Q1. Nature of your industry 1. Cold Storage 2. Bulk Drug 3. Coffee plant 4. Food processing
  41. 41. Market Potential Survey for Refrigeration System 41 5. Pesticide Plants 6. Refineries 7. Ice Cream Making Plants 8. Dairies 9. Fertilizer Plants 10. Meat Processing 11. Petrochemicals 12. Fish Processing 13. Formulation Plant 14. Biotech 15. Malted Food 16. Others (pls. Specify) ___ _____ _________ Q2. Give the marks out of 10 for the following: - (10 marks for the Most Important Attribute & 10 marks for the Most Satisfied for the current equipment) Sr. No. Attributes Importance for you Satisfaction level for the current equipment 1 Requirement of less space 2 Reliability of technology 3 Less manpower is required 4 Less capital cost 5 Less electricity cost 6 Less maintenance cost 7 Simple to install 8 Simple to operate 9 Less startup time 10 Few moving parts 11 Ready availability of spare parts in market 12 After sale service by the supplier 13 Reliability of the product / technology supplier 14 No odour nuisance Q3. Your Overall Satisfaction with the current refrigeration plant is ( /100) Q.4. Details of existing heating equipment (Boilers and Heaters) in your plant Sr. No. Make Capacity (Tonnes per hour - TPH) Fuel used in the heating equipment Pressure (bar or kg/sq. cm) Temperature (deg. Celsius) Cost of steam (Rs/Kg) I II III IV
  42. 42. Market Potential Survey for Refrigeration System 42 V VI Q.5. Opportunities for Waste Heat Recovery in your plant Sr. No. Source Type (gas/liquid & composition) Temperature (deg. Celsius) Quantity (unit as applicable) I Boiler condensate recovery II Exhaust gases from processes III Exhaust gases from DG sets/ Gas Engines IV Jacket Water from DG sets/ Gas Engines V Effluent Discharge VI Flared gas capacity (Specially for the refineries) Q6. Please rate the following sources of information from where you get the information about the refrigerating plant like new technology, consultants, manufacturers, applications etc. (Pls. rate for the past experience and future also.) (Please give marks out of 10. Higher score means source of information used more by you.) Sr. No. Nature of source of information In the past 2 years For the future (next 1 year) I Books and periodicals II Consultants III Other users of refrigeration plants IV Through attending seminars and exhibitions V Internet VI Others (pls. Specify) ___ Q7. Please give your overall waightages for the following aspects while selecting the refrigerating equipment. Sr. No. Aspect Weightage (distribute marks out of 100) 01 Product performance
  43. 43. Market Potential Survey for Refrigeration System 43 02 Reliability of the product / technology supplier 03 Price 100 Q8. Are you aware of Ammonia Vapour Absorption Machine (AVAM) or Ammonia Absorption Refrigeration (AAR)? Yes No Q9. If the answer to Q8 is YES then please rate AVAM / AAR machines by giving marks out of 10 on the following factors. (For Reliability and Ease of Operation, 10 indicate High Reliability and Ease of Operation. For Purchase Cost, Running Cost and Frequency of Breakdown, 10 indicates lower Purchase Cost, lower Running Cost and lower Frequency of Breakdown) Attributes Ratings (0 to 10) Reliability Ease of operation Purchase Cost Running Cost Frequency of Breakdown *Note : For FO, Please show this to respondents before starting the next questions. Please note the advantages of Ammonia Absorption Refrigeration (AAR) over Compression Method are: - 1. High reliability 2. Lower maintenance costs due to no moving parts except a centrifugal pump 3. Waste steam / heat energy utilization driven technology leading to energy conservation 4. Wide refrigeration temperatures (+10 to -70o C) Q10. In view of above benefits, will you be interested in converting your existing refrigeration plant to Ammonia Absorption Refrigeration (AAR)? 1. Yes 2. No Q11. If Yes, what can be the time frame for carry out this project work? Current Year (2006) Next Year (2007) After 2 Years
  44. 44. Market Potential Survey for Refrigeration System 44 Q12. Is your organization planning to expand existing refrigeration plant(s) or install new ones in the range of 25o C to 70o C? In the next 1 year in next 2-3 years in more than 3 years No plans Procedure for buying a new or converting the existing compression plant to Ammonia Vapour Absorption refrigeration plant Q13 Do you appoint consultants for procurement of the LTR plants? Yes No Q14 If yes, do you issue a public invitation for the appointment of consultants? Yes No Q15 Do you issue public invitation for selecting the technology supplier? Yes No Q16 Is there a system to shortlist the technology suppliers? Yes No Q17 Do you float the tender for short listed parties? Yes No Q18. Who is the Key Decision Maker for investment in the LTR plant? Name & Designation __ ___ Q19. Who decides on the technology supplier of the LTR plant? Name & Designation __ ___ Q20. Who short-lists on the technology supplier of the LTR plant? Name & Designation __ ___ Q21. Who will supervise the installation of the refrigeration plant? Name & Designation ___ ____________ COMPANY DETAILS Q22 Name of the Company :
  45. 45. Market Potential Survey for Refrigeration System 45 Q23 Name of the group : Q24 Office Address : Q25 Plant locations : Q26 The total sales of your company in the financial year 2005-06 (Rs. Lacs) : Q27 Name of the person : Q28 Designation : Q29 Telephone No. : Q30 Email ID : Q31 Years of experience in this field : Q57. Any suggestions / Comments? __________________________________________________________________ ___________________________________________________________________ __________________________________________________________________ Signature of the respondent___________________________ For official use only: Field Officer : Devendra Shende Date of interview: ______________ Checked by: ________________________ Date: ________________________ ANNEXTURE 2
  46. 46. Market Potential Survey for Refrigeration System 46 LIST OF THE INDUSTRIES VISITED 1. Serum Institute Of India Ltd, Hadapsar, Pune 2. Hindustan Antibiotics Ltd, Pimpri, Pune 3. Ranbaxy Pharmaceuticals, Jejuri 4. Emure Pharma Ltd, Hinjewadi, Pune 5. Venkateshwara Hatcheries Ltd, Pune- Panshet road, Pune 6. Cipla Ltd, Kurkumbh, Pune 7. Reliance Industries Ltd, Kurkumbh, Pune 8. Reliance Industries Ltd, Thane 9. Lupin Pharmaceuticals, Aurangabad 10. Orchid Pharmaceuticals, Aurangabad 11. Wockhardt Pharmaceuticals Aurangabad 12. Gharda Chemicals, Mumbai 13. Glaxosmithlakane Pharmaceticals,Mumbai 14. United Phosphorous, Mumbai 15. Kwality Walls Ice Cream, Nashik 16. Dinshaw dairy Foods, Nagpur 17. Rich Quality Ice cream , Pune 18. Dynamix Dairy, Baramati 19. Allanasons Ltd,(Fisheries) Mumbai 20. Al gilani exports, Mumbai 21. Casterlock fisheries, Mumbai 22. Cadbury India, Talegaon Dhabhade , Pune 23. Cheminova India , Ankleshwar 24. Aventis Pharma , Goa 25. IPCA Laboratories, Aurangabad 26. Glenmark Pharmaceuticals , Mumbai 27. Indian Farmer Fertilizer Cooperative Limited , Mumbai 28. Bayer Cropscience, Thane 29. Rastriya Chemicals and fertilizers, Chembur, Mumbai 30. Deepak Fertilizers and fertilizers, Mumbai 31. Bharat Petrochemicals Corporation Limited , Mumbai 32. Indian Oil Corporation Limited ,Mumbai
  47. 47. Market Potential Survey for Refrigeration System 47 33. Hindustan Petroleum Corporation, Mumbai 34. Venus Petrochemicals Limited Thane 35. Blue blends Petrochemicals Mumbai
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