Summer Training Project Report

On
“Sales & Business Development of Decorative Laminates Industry at
ICON Enterprises”
By
“Mr. Devendra Singh”
“2200520700019”

Under the guidance of

“Dr.Raji”

In partial fulfillment of the requirement for the award of the Degree of

Master of Business Administration

Submitted at

DEPARTMENT OF BUSINESS ADMINISTRATION

INSTITITUTE OF ENGINEERING AND TECHNOLOGY JANKIPURAM
LUCKNOW, UP-226021

1
 Department of Business Administration
Institute of Engineering & Technology Lucknow

STUDENT DECLARATION

I undersigned, hereby declare that the project titled “Empirical Execution of Accounting data”

submitted in partial fulfillment for the award of Degree of Master of Business Administration is a

bonafide record of work done by me under the guidance of Dr. Raji. This report has not

previously formed the basis for the award of any degree, diploma, or similar title of any

University.

Place:

Date:

Signature

Devendra Singh

2200520700019

2
3
4
 Department of Business Administration
Institute of Engineering & Technology Lucknow

CERTIFICATE FROM INSTITUTE

This is to certify that Mr.Devendra Singh, Third semester student of Master of Business

Administration, Institute of Engineering & Technology, Sitapur Road, Lucknow has completed

the project report entitled “Sales & Business Development of PVC Products at ICON Enterprises”

in partial fulfillment of the requirements for the award of the Degree of Master of Business

Administration.

Date:
Place:

Dr. Durgawati kushwaha

5
 Department of Business Administration
Institute of Engineering & Technology Lucknow

CERTIFICATE FROM FACULTY GUIDE

This is to certify that Mr. Devendra Singh, Third semester student of Master of Business

Administration, Institute of Engineering & Technology, Sitapur Road, Lucknow has completed

the project report entitled “Empirical Execution of Accounting data” towards partial fulfillment of

the requirement for the award of the Degree of Master of Business Administration under my

supervision.

Date:

Place:

Signature

Dr. Raji

6
 PREFACE

This project was undertaken as a part of the curriculum of MBA course, which is compulsory for

each student to have the project in any new ideas to the development of the student capabilities

and gain the knowledge. This exposure enables the mentor to learn effective and efficient ways

and means to solve the real problems faced by the organization and also to understand its

dynamics.

In this internship report, I delve into my enriching experience at ICON enterprise. Throughout

my tenure, I actively engaged in diverse tasks, honing my skills in analyzing date to plan and

design projects as per state and local regulations, conducting a risk analysis of each project,

and repair & maintenance of constructed projects. This report encapsulates the invaluable

insights gained, challenges overcome, and contributions made during my immersive journey

within the dynamic world of sales & marketing.

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 ACKNOWLEDGEMENT

I would like to express my gratitude and appreciation to all those who gave me the possibility to

complete this summer internship project in “ICON Enterprises” and I am sincerely thankful to

them for providing this opportunity to me.

I am extremely thankful to MR .Rajeev Maurya for guiding me throughout this project and

continuously encouraging me. It would not have been possible to complete this project without

his support.

I am also thankful to all the faculty members of Department of Management Studies, Institute

of Engineering & Technology, Lucknow and particularly my mentor Dr.Raji for helping me

during this project.

Finally, I am grateful to my family and friends for the ending support.

Devendra Singh

8
Sr.No. Particulars Page No.

1 Chapter 1: Introduction 09-11

1.1 Overview 11-13
1.2 Industry Profile 14-16
1.3 Company Profile 17-18
1.4 SWOT Analysis 19-21
2 Chapter 2: Literature Review 22-30

3 Chapter 3: Research Methodology 36-41

3.1 Problem Statement 38
3.2 Objectives of the study 38
3.3 Hypothesis 39
3.4 Research Design
39-40
3.5 Data Analysis & Collection Tool
40-41
4 Chapter 4:Data Analysis & 42-44
Interpretation
5 Chapter 5: 45-48
5.1 Findings 45
5.2 Suggestions 46
5.3 Limitations 47
5.4 Conclusion 48
Reference 49

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 CHAPTER 1: INTRODUCTION

1.1 Overview

Sales and marketing are two distinct yet interconnected functions within a business. The main

Difference lies in their primary objectives and methods. While sales focuses on closing deals and

generating revenue, marketing encompasses a broader set of activities to create awareness, generate

leads, and build customer relationships.

Firstly, sales involve direct interaction with potential customers, actively persuading them to purchase

a product or service. To close deals, sales teams utilize cold calling, product demonstrations, and

negotiation techniques. In contrast, marketing employs various strategies to attract and engage a larger

audience. This includes marketing research, branding, advertising, content creation, and marketing

campaigns to promote products or services.

Secondly, sales focus on the immediate conversion of leads into sales to meet revenue targets. On the

other hand, marketing takes a more long-term approach, aiming to create brand recognition, nurture

customer relationships, and ultimately drive sales over time.

Furthermore, sales teams are primarily concerned with individual transactions, while marketing takes a

holistic view, considering the overall market and target audience. Moreover, marketing aims to

understand customer needs and preferences, create value propositions, and develop compelling

messaging to differentiate a product or service in the marketplace. Sales then leverage these marketing

efforts to close deals and convert leads into customers

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Features of Sales & Marketing

The characteristic features of computerized accounting systems are as follows–

• Systematic Process:-

It is the systematic process of identifying customer needs and wants; and satisfying them by designing

and developing the right products which involve designing products as per customer requirements,

fixing the right price, effective promotion of product and distribution of the product at the right place.

• Ideas, Goods, and Services:-

Marketing is undertaken to design and sell goods and services, as well as ideas.

I. Marketers design and distribute tangible goods like FMCG products and consumer durables.

II. Marketers sell intangible services such as that of banks, airlines, hotels, insurance, etc.

III. Also, ideas are marketed by social and Govt. organizations, which include campaigns relating

to anti-drugs, AIDS awareness, anti-corruption, etc

• Target Markets:-
Marketing is concerned with target markets. One cannot sell everything to everyone. Therefore,

marketers have to be selective in deciding the target market or buyers.

A marketer needs to design goods and services for a particular target segment or market. For example,

a marketer cannot design and sell a particular model of car to all prospective buyers. He has to design

different models for different segments of the market depending upon their income, status, preferences,

etc.

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 • Customer Satisfaction:-
Customer satisfaction is the outcome of a correlation between product performance and customer

expectations: When product performance matches customer expectations, the customers are satisfied.

When product performance is below customer expectations, the customers are dissatisfied. When

product performance exceeds customer expectations, the customers are delighted. When product

performance exceeds very much more than expectations, the customers get astonished.

• Competitive Advantage:-
Effective marketing helps to face competition in the market. Professional marketers are proactive in

decision-making. They come up with innovative designs or models, creative promotion schemes,

effective customer relationship techniques; etc .Proactive decisions give a competitive advantage to

professional marketers.

• Corporate Image:-
Effective marketing enables a firm to develop and enhance its corporate image. a firm achieves higher

performance in terms of sales, market share, and profits. Therefore, corporate image improves in the

minds of Employees, Customers, Dealers, Suppliers, Shareholders, and other stakeholders good

corporate image in the minds of stakeholders helps a firm to expand and grow.

• Expansion of Business:-
Marketing facilitates the expansion of the firm. Due to effective marketing, the performance of the

organization improves in terms of sales, profits, and market share. Therefore, a firm may adopt an

expansion strategy. For the purpose of expansion, the firm may undertake various activities.

12
1.2 Industry profile

As this material is believed to be more environment-friendly and has many other advantages as we will

note below, Wood-Plastic Composites as a market is growing slowly, yet steadily. According to a

survey that took place in 2017, the global WPC market enjoyed revenue of nearly $4 Billion. The

market is expected to grow at a rate of 9.3%. While currently, WPCs find the highest applications in

the United States of America, as well as Europe, WPC and PVC board manufacturers in developing

economies like India and China, have a lot to look forward to. Factors like increasing urbanization,

rise in nuclear family systems along with a push for ecological sensitivity, will drive demand and

growth for the market.

India PVC (Polyvinyl Chloride) pipes market size was estimated at USD 177.71 million in 2022.

During the forecast period between 2023 and 2029, the size of India PVC pipes market is projected to

grow at a CAGR of 7.21% reaching a value of USD 269.85 million by 2029. Major growth drivers for

the India PVC pipes market include an increasing urbanization and industrialization. Notably, the

Government of India is actively prioritizing economic development by ramping up investments and

launching specific initiatives like PradhanMantri Awash Yojana and Pradhan Mantri Krishi

Sinchai Yojana, with a strong focus on infrastructure development. These government-led programs

are expected to significantly boost the India PVC pipes market. Also, other growth factors for the

market include expanded government infrastructure investments, a surge in residential and commercial

construction, the growth of industrial production, development in the irrigation sector, and the

replacement of aging pipes with more advanced polymer alternatives, particularly CPVC pipes, in

applications like hot and cold-water plumbing. Major players in the industry have displayed robust

growth, with a substantial increase in PVC pipe production. Government initiatives like "Har Ghar Jal

13
Yojna" and "Jal Jeevan Mission" are set to further drive demand for plumbing pipes and fittings, and

the industry is projected to witness continued growth in the years ahead. This positive outlook is

underpinned by the government's strong commitment to national development, policy support, and a

focus on self-reliance.

PVC pipes are a type of pipes manufactured through the extrusion process using polyvinyl chloride

(PVC) raw material. They are recognized for their notable qualities, which encompass high tensile

strength, ductility, durability in extreme temperature environments, and resistance to corrosion. These

PVC pipes serve a wide range of applications across commercial and industrial sectors, including the

chemical industry, electronics, semiconductors, food and beverage, maritime, mining, agriculture, steel

processing, and wastewater treatment facilities. Their uses extend to underground potable water

supply, sewer and drainage systems, irrigation, medical devices, and more. They are commonly

deployed in various infrastructural settings such as banks, healthcare facilities, airports, marine

systems, resorts, and office buildings.

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 Top firms of in India

Black Cobra Group:-

Black Cobra Group is a distinguished pillar of the Indian building materials sector since 1992. If

manufactures high- quality plywood under the brand name Black Cobra, which is among the top 10

plywood brands in the India. The Group has over 1 million square feet of manufacturing space spread

across 6 manufacturing plants.

The group also manufactures Aluminum Composite Panels (ACP) under the brand name of "Alex

Panels", which is among the pioneers of the ACP industry in India and among the top 5 ACP brands in

the country. The products of the group are trusted by the leading institutions in the India such as ITC,

DLF, Super tech, Delhi Metro Rail Corporation, Indian Oil, LIC, SBI, HDFC, LG, Patanjali,

Volkswagen, PWD, Samsung, Airports Authority of India, MMRDA, IGL, Shapoorji Palling, & more.

Durian Group:-

On February 1st, 2006, Durian opened its cutting-edge facility for producing decorative high pressure

laminates. Our plant is prepared to make Metal Foil Laminates, Abrasion Resistant Laminates, Dry

Wipe Marker Board Laminates, Chalk Board Laminates, Post Forming Laminates, Digital Printed

Laminates, Screen Printed Laminates, and Door Skins in addition to Decorative High Pressure

Laminates. Additionally, the business has a cutting-edge chemical unit that produces the resins needed

to make laminates

Century Ply:-

Leading the laminate industry has been Century Ply. This company is the first to be ISO 9002

accredited in India. Under the Nesta brand, the company produces plywood of various grades,

ornamental laminates, particle boards, medium density fiber boards (MDF), and wood veneers. It also

sells ready-made furniture through retail locations.

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Greenlam :-

Among the world’s top three producers of laminates, Greenlam Laminates brings a legacy of

exceptional artistry, unsurpassed quality and unyielding passion for excellence to the table.

Green Ply Industries Ltd. is an India-based multi-national company that has a strong presence in the

plywood, veneers, particle board and decorative laminates market in India. They have team of 2500

employees and a network of over 12000 dealers and distributors..

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1.3 Company Profile

ICON Enterprises

The company incorporated in the year 2009 at Luck now, ICON has emerged as one of the leading

names in the plywood and laminate industry. Three state-of-the-art plants are the pride of our group,

which are producing all kinds of plywood, boards, shuttering, high-pressure laminates, flush doors,

Marine plywood, commercial plywood etc.

ICON has spread its footprints across 2 states and over 11 cities across India. After gaining ground in

the domestic market, we are now keen on developing an international market for our products.

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Core Values:

➢ Sustainability: We prioritize environmentally responsible practices in every aspect of our

business.

➢ Quality: We are dedicated to delivering products of the highest standard to exceed customer
expectations.

➢ Innovation: Constantly seeking new and creative solutions to address the evolving needs of our
clients.

Key Achievements:

➢ Awarded the Green Innovation Prize for our environmentally friendly product line.

➢ Featured in leading design and architecture publications for our contributions to sustainable
construction.

VISION:

“We strive to be pioneers in the industry, driving positive change and inspiring a shift towards

more sustainable building practices."

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MISSION:

“At Mica PVC Wood, Inc., our mission is to lead the transformation of the construction and

design industry through the relentless pursuit of innovation and sustainability. Prioritizing

environmental responsibility, quality craftsmanship, and customer satisfaction, we aim to set new

standards in the market and positively impact the communities we serve."

Offices Contact Email

1 Floor 105, Amaze Avenue, +919450678441 [email protected]

Amaze City Aurangabad,

Lucknow-226025

GSTN:09AAGFI5289P3ZE

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1.5 SWOT Analysis

Strengths:

➢ Innovation and Product Development: Mica PVC Wood, Inc. is recognized for its continuous
innovation in the development of synthetic materials, staying ahead of industry trends and

offering cutting-edge solutions.

➢ Sustainability Focus: The company's commitment to sustainability sets it apart in the market,
appealing to environmentally conscious consumers and aligning with growing green building

trends.

➢ Quality Assurance: Mica PVC Wood, Inc. maintains high-quality standards in manufacturing,
ensuring that its products meet or exceed customer expectations. This dedication to quality

enhances customer satisfaction and loyalty.

➢ Diverse Product Range: The Company offers a diverse range of synthetic materials for various
applications, including interior panels, exterior cladding, decking, and flooring, catering to a

wide range of customer needs.

➢ Strategic Partnerships: Collaborations with architects, designers, and contractors have

strengthened the company's position in the market, facilitating the incorporation of its products

into diverse projects.

➢ Industry Recognition: Mica PVC Wood, Inc. has received awards and recognition for its
environmentally friendly products, contributing to its positive brand image and credibility

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Weaknesses:

➢ Market Penetration Challenges: Despite its innovations, Mica PVC Wood, Inc. may face
challenges penetrating certain markets where traditional materials still dominate or where

awareness of synthetic alternatives is low.

➢ Dependency on Raw Materials: The Company may be vulnerable to fluctuations in the prices
or availability of raw materials used in the production of its synthetic materials, impacting

production costs.

➢ Brand Recognition: Mica PVC Wood, Inc. may have limited brand recognition compared to
more established competitors in the industry, which could affect market share and consumer

trust.

➢ Regulatory Compliance: Adhering to evolving environmental regulations and standards may

pose challenges, requiring ongoing adjustments to production processes and potentially

impacting costs.

➢ Global Economic Conditions: Economic downturns or uncertainties could affect the

construction industry and, consequently, demand for Mica PVC Wood, Inc.'s products.

➢ Limited Distribution Channels: The Company may face challenges in expanding distribution
channels, limiting its reach to potential customers in certain geographic areas.

21
Opportunities:

➢ Market Expansion: Corporation has the opportunity to explore and enter new markets, either
geographically or by targeting different customer segments, to increase its customer base.

➢ Technological Advancements: Leveraging emerging technologies can lead to the development

of new and improved products, giving Corporation a competitive edge in the market.

➢ Strategic Partnerships: Forming strategic partnerships with other companies or industry leaders
can open avenues for collaboration, shared resources, and mutual growth.

➢ Diversification of Product Portfolio: Introducing new product lines or expanding the existing
portfolio can attract a broader range of customers and increase revenue streams.

➢ E-commerce and Online Presence: Investing in e-commerce and enhancing the online presence
can tap into the growing trend of digital shopping, reaching a wider audience and improving

customer convenience.

➢ Sustainability Initiatives: Embracing sustainable practices not only meets consumer demands
but also aligns with global trends, potentially attracting environmentally conscious customers

and investors.

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Threats:

➢ Intense Competition: The industry landscape is highly competitive, with new entrants and
existing competitors constantly vying for market share, potentially leading to price wars and

reduced profit margins.

➢ Economic Downturn: Economic uncertainties or recessions can impact consumer spending,

affecting the demand for non-essential goods and services offered by Corporation.

➢ Regulatory Changes: Changes in regulations or compliance requirements can pose challenges,

necessitating adjustments to business operations and potentially increasing costs.

➢ Supply Chain Disruptions: External factors such as natural disasters, geopolitical issues, or
global pandemics can disrupt the supply chain, leading to shortages and increased production

costs.

➢ Rapid Technological Changes: Rapid advancements in technology can render existing products
obsolete or require significant investments in research and development to stay competitive.

➢ Changing Consumer Preferences: Shifts in consumer preferences or trends may impact the
demand for Corporation’s products, requiring constant market research and adaptability.

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CHAPTER 2: LITERATURE REVIEW

2.1 Review of Literature

A review of literature is a summary and evaluation of the existing research and knowledge on a

specific topic or field. A review of literature of study of sales and marketing strategies of the industry

of Decorative Laminates would involve searching, selecting, and analyzing the relevant sources that

address the research question or problem of the study. Some of the possible sources are:

1) T. Mallikarjum Appa and Shaini Naveen (2016) combined examination on comparative analysis of

risks and return in respect of CNX Bank Nifty Stocks. This test reduces the risk and return to the

keeping money segment. They consider. the implementation of the 12 recorded banks in the Nifty. The

bank index examination basically examines the implementation of managing account reserves

considering the required rate of return and the risk of a particular stock in light of various opportunity

factors, Market conquests and other economic variables.

2) Dr. Anubha Srivastava directed a through inquiry into the performance of marketing units Austin

Ply in India in that review, researcher exam MERINO LAMINATES and SHARON. The

implementation of the products was directly identified in this investigation with the economic system

of the country.

3) Dr. S. Krishna Piranha and Mr. M. Vijay Kumar led the exam on risk and return analysis selected

stock risk and return examination in India assumes an essential role in fundamental leadership the

process of most bookmakers. Long term financial experts may benefit from the low market volume

volatile when compared to the market and with the prices in it,

4) According to certain Sri Lankan supermarket managers, in-store marketing make up significantly

more than 40% of the promotional spending for all major products .This is primarily due to modern

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marketers' pervasive idea that visual merchandising may have a significant influence on consumers'

purchasing decisions. Despite this, it appears that some customers select businesses based on outside

marketing tactics, such as parking spaces, location and kid-friendly parks, rather than being inspired by

visual merchandising. (Pradeep Randiwela, W.M.C.B. Wanninayake, 2017)

5)Vijay Bhasker says the Indian automobile industry the largest industry the word and the growing

number of foreign companies in Indian and an important sector of the economy Employment in the

market isgrowing and will continue to grow significantly.

6) Dharma raj and N. Kathirvel Economic analysis appreciation for the performance and growth of

selected Indian auto companies she has shown by recent past performance and says companies are

strong and they have good ability to grow in the future.

4) Dr. M. Murtha Gopal krishnan and DR. K.V. Raman combined studies on instability in trading

Indian securities- Post and preseason period study. In this investigation, researchers attempt to break

price void in Indian securities exchange. Evaluating market depression money related masters will

help destroy their volatility or determine their risk record of daily opening price, shutting value, high

using spectral record Nifty on 28-03-2013 and low cost of 31 selected institutions. This investigation

identifies the relationship of instability in Pre-recession and post recession periods.

25
2.2 Conceptual Understanding

SALES- Sales is the process of selling goods or services to customers in exchange for money or other

assets. Sales involve various activities, such as identifying prospects, building relationships, presenting

solutions, negotiating prices, and closing deals. Sales also aim to solve the customer's problems and

needs, and to create customer satisfaction and loyalty. Sales are an important function for any business,

as it generates revenue and growth. There are different types of sales, depending on the audience,

motive, offering, and channel.

Some common types of sales are:

➢ Inside sales: Sales done remotely, usually from an office or online, without meeting the
customer in person.

➢ Outside sales: Sales done in person, usually by traveling to the customer's location or meeting
them at events or trade shows.

➢ B2B sales: Sales done between businesses, such as selling software, equipment, or services to
other companies.

➢ B2C sales: Sales made between businesses and consumers, such as selling clothes, electronics,
or food to individual customers.

➢ Business development: Sales done to create new opportunities and partnerships for the
business, such as finding new markets, customers, or channels.

➢ Agency sales: Sales made by a third-party agent or broker, who acts as an intermediary
between the seller and the buyer and earns a commission for each sale.

26
 ➢ Consultative sales: Sales done by providing expert advice and guidance to the customer and
helping them find the best solution for their needs.

➢ E-commerce sales: Sales done through an online platform or website, where the customer can
browse, order, and pay for the goods or services online.

➢ Direct sales: Sales done directly by the seller to the customer, without any intermediaries or
retailers, such as selling through catalogs, phone calls, or home parties.

➢ Account-based sales: Sales done by targeting specific accounts or customers and providingthem
with personalized and tailored solutions.

MARKETING- Marketing is the process of creating, communicating, delivering, and exchanging

offerings that have value for customers, clients, partners, and society at large. Marketing involves

various activities, such as identifying customer needs and wants, developing and positioning products

and services, setting prices and distribution channels, and promoting and selling the offerings to the

target market. Marketing aims to attract, satisfy, and retain customers, and to generate revenue and

growth for the business.

There are different types of marketing, such as:

➢ Traditional marketing: Marketing that uses offline channels, such as television, radio, print,
direct mail, and word-of-mouth, to reach and influence customers.

➢ Digital marketing: Marketing that uses online channels, such as websites, social media, email,
search engines, and mobile apps, to reach and engage customers.

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➢ Content marketing: Marketing that creates and distributes valuable, relevant, and consistent
content, such as blogs, videos, podcasts, eBooks, and webinars, to educate, entertain, and

persuade customers.

➢ Social media marketing: Marketing that uses social media platforms, such as Face book,
Twitter, Instagram, and YouTube, to build relationships, communities, and awareness with

customers.

➢ Email marketing: Marketing that uses email to communicate and deliver personalized and
timely messages, offers, and newsletters to customers.

➢ Search engine marketing: Marketing that uses paid or organic methods to increase the visibility
and ranking of a website or a web page on search engines, such as Google or Bing.

➢ Affiliate marketing: Marketing that involves a third-party website or a publisher that promotes
a product or a service of another business and earns a commission for each sale or action

generated.

➢ Influencer marketing: Marketing that involves collaborating with influential people, such as
celebrities, bloggers, or experts, who have a large and loyal following, to endorse or

recommend product or a service to their audience

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HOW SALES AND MARKETING STRATEGY HELPS TO GROWING BUSINESS OF ICON

Enterprises?

A sales and marketing strategy is a plan that outlines how a business will attract, convert, and retain

customers for its products or services. A sales and marketing strategy helps a business grow by:

➢ Increasing brand awareness and reputation among the target market and the industry.

➢ Generating qualified leads and prospects that are interested in the business's offerings.

➢ Closing more deals and increasing revenue and profitability for the business.

➢ Enhancing customer satisfaction and loyalty and reducing churn and attrition.

A sales and marketing strategy consists of various elements, such as:

➢ Market Analysis: - Evaluate the current market trends, customer needs, and competitive
landscape to identify opportunities and challenges.

➢ Customer Segmentation: -Analyze and segment the target customer base based on
demographics, psychographics, and behavior to tailor marketing strategies.

➢ Product Positioning: - Determine how the product or service will be positioned in the market,
emphasizing its unique selling propositions and value proposition.

➢ Sales Funnel Optimization: - Study and optimize the sales funnel to improve conversion rates
at each stage, from lead generation to closing the deal.

➢ Sales Training and Development: - Assess the effectiveness of sales training programs and
identify areas for improvement to enhance the skills and performance of the sales team.

➢ Customer Relationship Management (CRM): - Evaluate the implementation and utilization

29
 of CRM systems to enhance customer interactions, streamline processes, and improve overall

customer satisfaction.

➢ Channel Management: - Study the effectiveness of various sales channels (e.g., direct sales,
distributors, online platforms) and optimize their performance.

➢ Digital Marketing Strategies: - Analyze the effectiveness of digital marketing efforts,

including social media, content marketing, SEO, and online advertising, and propose strategies

for improvement.

➢ Marketing ROI and Performance Metrics: - Assess the return on investment (ROI) of
marketing campaigns and identify key performance indicators (KPIs) to measure the success of

sales and marketing initiatives.

➢ Customer Feedback and Satisfaction: - Collect and analyze customer feedback to understand
satisfaction levels, identify areas for improvement, and enhance the overall customer

experience.

➢ Competitor Analysis: - Conduct a thorough analysis of competitors to understand their

strategies, strengths, and weaknesses, informing the development of a more competitive sale

and marketing approach.

➢ Brand Awareness and Perception: - Evaluate the current brand awareness and perception in
the market and develop strategies to enhance and manage the brand image effectively.

➢ Market Expansion Strategies: - Explore opportunities for expanding into new markets or
reaching untapped customer segments, considering both domestic and international markets.

➢ Ethical Marketing Practices: - Assess the adherence to ethical marketing practices and
propose strategies to ensure the company operates with integrity and transparency.

➢ Sales Forecasting and Budgeting: - Develop accurate sales forecasts and budgets based on
30
 historical data, market trends, and the organization's strategic objectives.

➢ Pipeline: - A sales pipeline is a visual representation of sales prospects and where they are in

the purchasing process. Pipelines also provide an overview of a sales rep's account forecast

and how close the rep is to making quota, as well as how close a sales team as a whole is to

reaching quota. This enables sales reps and sales managers to forecast the number and dollar

amounts of deals that will close in a time period.

➢ Cold Calling: - Cold calling is a form of sales solicitation from businesses to customers

who’ve never interacted with the salesperson making the call. It generally refers to phone-

based conversations (hence cold calling) but technically covers in-person door-to-door

interactions, too. Granted, most businesses that use cold calling today no longer adhere to the

original meaning. With unknown numbers increasingly associated with scams, it’s more

common for companies to use warm calling, or calling from a list of potential customers

garnered through lead gathering. That doesn’t necessarily mean the prospect is expecting the

call, but it does mean more research on the caller’s part, some sort of prior connection (via a

referral, LinkedIn, etc.), and an increased likelihood that the prospect won’t immediately hang

up the phone.

➢ Closing: - Closing a sale, an important part of personal selling process refers to completing a

sales transaction – it is the final step while making a sales call to the customer. It effectively

refers to the customer signing on the dotted line of the agreement completing the sale.

➢ Up selling: - Up selling is a sales technique where a seller invites the customer to purchase

more expensive items, upgrades, or other add-ons to generate more revenue. While it usually

31
 involves marketing more profitable services or products, it can be simply exposing the

customer to other options that were perhaps not considered. (A different technique is cross-

selling in which a seller tries to sell something else.) In practice, large businesses usually

combine up selling and cross-selling to maximize revenue.

➢ Cross selling: - Cross-selling is a sales technique that increases revenue by offering related

products or services to prospects and customers. It improves the customer experience by

providing a comprehensive solution at the time of purchase.

➢ Quota: - A sales quota is the performance expectation that sellers must achieve during a set

time period to earn their target incentive pay. Quotas are also called goals or targets and can

increase seller motivation when opportunity varies by territory.

➢ Sales funnel: - A sales funnel is a marketing term used to capture and describe the journey

that potential customers go through, from prospecting to purchase. A sales funnel consists of

several steps, the actual number of which varies with each company's sales mode.

➢ Sales forecasting: - Sales forecasting is the process of estimating future revenue by predicting

how much of a product or service will sell in the next week, month, quarter, or year. At its

simplest, a sales forecast is a projected measure of how a market will respond to a company's

go-to-market efforts.

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➢ Target audience: - Your target audience refers to the specific group of consumers most likely

to want your product or service, and therefore, the group of people who should see your ad

campaigns. Target audience may be dictated by age, gender, income, location, interests or a

myriad of other factors.

➢ Market segmentation: - Market segmentation is the practice of dividing your target market

into approachable groups. Market segmentation creates subsets of a market based on

demographics, needs, priorities, common interests, and other psychographic or behavioral

criteria used to better understand the target audience.

➢ ROI (Return on Investment): - Marketing ROI is the practice of attributing profit and

revenue growth to the impact of marketing initiatives. By calculating return on marketing

investment, organizations can measure the degree to which marketing efforts either

holistically, or on a campaign-basis, contribute to revenue growth. Typically, marketing ROI

initiatives.

➢ Content marketing: - Content marketing is a marketing strategy used to attract, engage, and

retain an audience by creating and sharing relevant articles, videos, podcasts, and other media.

This approach establishes expertise, promotes brand awareness, and keeps your business top

of mind when it's time to buy what you sell.

➢ SEO (Search Engine Optimization): - SEO means Search Engine Optimization and is the

process used to optimize a website's technical configuration, content relevance and link

popularity so its pages can become easily findable, more relevant and popular towards user
33
 search queries, and as a consequence, search engines rank them better.

➢ SMM (Social Media Marketing): - Social Media Marketing (SMM) is marketing that targets

social platforms like Face book, Instagram, TikTok for brand promotion, target audience

growth, driving website traffic, and increasing sales.

➢ Call to Action (CTA): It is a prompt on a website that asks users to perform a specific action

like signing up for a newsletter, downloading a demo, or buying a product. A CTA can appear

as a clickable button or as hyperlinked text, and is often seen directly on the page, in pop-up

form, or in a digital marketing ad.

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CHAPTER-3 RESEARCH METHOLOGY

3.1 PROBLEM STATEMENT- A problem statement is a concise description of an issue or

challenge that needs to be addressed or solved. A problem statement for ICON Enterprises could be

based on one of the following topics:

- How to increase customer satisfaction and loyalty in the competitive and dynamic Building
Decorating material?

- How to innovate and diversify the product portfolio to meet the changing needs and preferences

of the customers?

- How to make a standard environment of the living or non-living things?

- How to improve the operational efficiency and profitability of the company?

- How to expand the global presence and market share of the company?

➢ Raw Material Sourcing: Difficulty in securing a stable and cost-effective supply of high-
quality timber for plywood production. Mica companies face challenges in obtaining consistent

and ethically sourced mica, addressing concerns related to child labor and environmental

impact.

➢ Production Efficiency: Plywood companies struggle with optimizing manufacturing processes

to enhance efficiency and reduce production costs. Mica companies may encounter difficulties

in streamlining extraction and processing methods to improve overall production efficiency.

➢ Quality Control: Ensuring consistent quality in plywood products, meeting industry standards,
and minimizing defects in the manufacturing process. Maintaining quality standards for mica to

meet regulatory requirements and consumer expectations.

35
➢ Market Competition: Intense competition in the plywood industry, leading to price wars and
challenges in differentiating products. Mica companies face global competition, requiring

continuous innovation and marketing strategies to stay competitive.

➢ Environmental Sustainability: Addressing concerns about deforestation and promoting

sustainable forestry practices in plywood production. Mica companies grappling with

environmental impact issues associated with mica extraction and processing, aiming for

sustainable practices.

➢ Regulatory Compliance: Keeping up with changing regulations related to plywood

production, including environmental regulations and workplace safety standards. Adhering to

regulations in the mica industry, particularly those related to ethical sourcing and labor

practices.

➢ Distribution Challenges: Plywood companies may face difficulties in establishing efficient

distribution channels, especially in reaching diverse global markets. Mica companies

encountering challenges in establishing secure supply chains and meeting demands from

various industries.

➢ Customer Satisfaction: Ensuring customer satisfaction by addressing issues such as product

defects, timely delivery, and responsive customer service. Mica companies working to meet

specific customer requirements and addressing concerns related to ethical sourcing and

transparency.

➢ Innovation and Technology: Adopting new technologies in plywood manufacturing to

improve efficiency and develop innovative, sustainable products. Mica companies striving to

36
 innovate in extraction and processing methods, as well as exploring new applications for mica-

based products.

➢ Economic Volatility: Navigating economic uncertainties and fluctuations in raw material

prices that can impact the overall financial stability of plywood and mica companies.

37
3.2 OBJECTIVE OF THE STUDY
➢ To understand Market: - A detailed study in project sales marketing helps businesses
understand the market dynamics, including customer needs, preferences, and trends. This

understanding is crucial for developing effective sales and marketing strategies that resonate

with the target audience.

➢ To get Competitive Edge: - A comprehensive study allows businesses to analyze competitors,

identify their strengths and weaknesses, and develop strategies to gain a competitive edge.

Understanding the competitive landscape is key to positioning products or services effectively

in the market.

➢ TO know Customer Segmentation: - Effective sales marketing requires businesses to identify

and target specific customer segments. Studying project sales marketing helps in creating

detailed customer personas and tailoring marketing strategies to address the unique needs of

each segment.

➢ To Optimize Sales Funnel: - A study in project sales marketing involves analyzing the sales
funnel to identify bottlenecks and optimize the conversion process. This leads to more efficient

lead nurturing, better conversion rates, and improved overall sales performance.

➢ To Enhance Customer Experience: - marketing studies allows businesses to enhance the

overall customer experience. Satisfied customers are more likely to become repeat buyers and

brand advocates.

➢ To Integrate Technology: - With advancements in technology, businesses need to stay

updated on the latest tools and platforms for effective sales and marketing. Studying project

38
 sales marketing enables organizations to integrate technology seamlessly into their strategies

for better efficiency and effectiveness.

➢ To Mitigate Risk: - Identifying potential risks in the sales and marketing processes is crucial.
A comprehensive study helps businesses anticipate challenges and develop contingency plans

to mitigate risks associated with market changes, economic fluctuations, or unforeseen events.

➢ To Decision Making In Data-Driven: - In the age of big data, studying project sales
marketing enables businesses to leverage data analytics for informed decision-making.

Analyzing key metrics helps in measuring the success of marketing campaigns and adjusting

strategies based on real-time data.

➢ To Expand Global Market: -For businesses aiming for global expansion, understanding
diverse markets, cultural nuances, and international competition is crucial. A study in project

sales marketing provides insights into the complexities of operating in different regions.

➢ To Make Alignment with Organizational Goals: - Sales and marketing strategies should
align with the overall goals and objectives of the organization. A detailed study ensures that

these strategies contribute to the company's mission, vision, and long-term growth plans.

➢ To Adopt Industry Trends: - Industries and markets are constantly evolving. Studying project
sales marketing helps businesses stay abreast of industry trends, enabling them to adapt and

innovate to meet changing customer expectations and market demands.

39
 3.3 HYPOTHESIS-

A hypothesis is a tentative and testable statement that predicts the relationship between two or more

variables in a research study. A hypothesis should be specific, clear, and relevant to the research

problem and objectives. A hypothesis can be either null or alternative, depending on whether it states

that there is no relationship or there is a relationship between the variables. Hypotheses for the study

of customer satisfaction by ICON products by adopting the sales and market strategies of BLACK

COBRA Company.

-Null hypothesis (H0): There is no association between the level of the customer satisfaction with the

price, design and attribute of the ICON products.

-Alternative hypothesis (H1): There is an association between the level of the customer satisfaction

with the price, design and attribute of ICON products.

This hypothesis is based on the objective of the study, which is to compare and analyze the customer

satisfaction level with the price, design and attribution of the ICON products. It is also based on a

literature review, which suggests that customer satisfaction is influenced by various factors, such as

product quality, performance, features, design, price, service, and brand image. It’s also based on

research methodology, which involves collecting and analyzing data from surveys, interviews, and

online reviews. This hypothesis is testable, as it can be verified or falsified by using ANOVA and T-

test analysis. It is also clear, concise, and specific, as it defines the variables, population, and

direction of the difference.

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3.4 RESEARCH DESIGN:

Research design is a conceptual structure within which research was conducted. A research design the

detailed blueprint used to guide a research study towards its objective. It is a series of advanced

decision taken together comprising a master plan or a model for conducting the research in consonance

with the research objectives. Research design is needed because it facilitates the smooth sailing of the

various research operations, thereby making research as efficient as possible yielding maximum

information with the minimum effort, time and money. I propose to first conduct intensive secondary

research to understand the full impact and implication of the industry, to review and critique the

industry norms and reports on which certain issues should be selected! Which I feel remain

unanswered or liable to change this shall be further taken up in the next stage of exploratory research.

This stage shall help me to restrict and select only the important question and issue which inhabit

growth and segmentation in the industry.

RESEARCH PROCESS
The research process has four distinct yet interrelated steps for research analysis.

It has a logical and hierarchical ordering:

➢ Determination of information research problem.

➢ Development of appropriate research design.
➢ Execution of research design.
➢ Communication of results.

Each step is viewed as a separate process that includes a combination of task, step and specific
procedure. The steps undertake are logical, objective, systematic, reliable, valid, impersonal and
ongoing.

The various tasks that I have undertaken in the research design process are:

41
There are different types of research designs that can be used to test the hypothesis of customer

satisfaction between the customers of ICON Enterprises and other companies, such as:

Exploratory design: is a type of research design that is used to investigate a research question

when the researcher has limited knowledge or understanding of the topic or phenomenon under study.

The primary objective of exploratory design is to gain insights and gather preliminary information that

can help the researcher better define the research problem and develop hypotheses or research

questions for further investigation.

Some of the common methods of exploratory design are literature review, pilot study, case study,

focus group, expert opinion, observational research, and open-ended survey. These methods can help

the researcher to identify the gaps in the existing knowledge, explore the range of opinions and

attitudes, identify patterns of behavior and interactions, and generate ideas for further research.

EXPLORATORY RESEARCH

The method I used for exploratory research was.

* Primary Data

* Secondary data

PRIMARY DATA: New data gathered to help solve the problem at hand. As compared to secondary

data which is previously gathered data. An example is information gathered by a questionnaire.

Qualitative or quantitative data that are newly collected in the course of research, consists of original

information that comes from people and includes information gathered from surveys, focus groups,

42
independent observations and test results. Data gathered by the researcher in the act of conducting

research. This is contrasted to secondary data, which entails the use of data gathered by someone other

than the researcher information that is obtained directly from first-hand sources by means of surveys,

observation or experimentation.

SECONDARY DATA: Information that already exists somewhere, having been collected for another

purpose. Sources include census reports, trade publications, and subscription services. There are two

types of secondary data- internal and external secondary data Information compiled inside or outside

the organization for some purpose other than the current investigation Researching information, which

has already been published? Market information compiled for purposes other than the current research

effort: it can be internal data, such as existing sales-tracking information, or it can be research

conducted by someone else, such as a market research company or the U.S .government.

43
3.5 DATA COLLECTION AND ANALYSIS TOOL

DATA COLLECTION-Tools are instruments or methods employed to gather information

systematically. In a research context, these tools encompass a wide range of techniques tailored to

collect both quantitative and qualitative data. Examples include survey software like Qualtrics or

Google Forms for structured quantitative surveys, interview platforms such as Zoom or Microsoft

Teams for qualitative insights, and organizational records for extracting existing quantitative data. The

choice of tools depends on the nature of the data and the research objectives, ensuring that the

collected information is accurate, relevant, and aligned with the study's goals.

ANALYTICAL TOOL- An analytical took refers to software, methods, or instruments designed to

collect, process, analyze, and visualize data to extract meaningful insights, patterns, and trends. These

tools are commonly used in various fields such as business, science, research, and data driven decision-

making processes. Analytical tools help users interpret complex information, make informed decisions,

and identify opportunities for improvement of optimization. Examples include statistical software, data

visualization tools, and business intelligence platforms.

DATA COLLECTION METHOD- The survey/questionnaire method: The survey/questionnaire

method is a systematic way of gathering information from individuals to understand their opinions,

attitudes, behaviors, or experiences. It involves creating a set of standardized questions and distributing

them to a targeted group of participants. Here's an overview of the key elements: The primary goal is to

collect structured data to quantify opinions, attitudes, or behaviors within a specific population.

1. Instrument: Utilizes a survey or questionnaire as the instrument for data collection. This instrument

comprises a series of questions designed to elicit responses from participants.

44
2. Standardization: Questions are standardized to ensure consistency in the data collection process.

This allows for comparability and statistical analysis.

3. Closed-ended Questions: Predominantly includes closed-ended questions with predetermined

response options, making it easy to quantify and analyze the data.

4. Quantitative Data: Primarily generates quantitative data, which can be analyzed using statistical

methods. This data is often numerical and lends itself well to statistical interpretation.

5. Sampling: Involves selecting a sample from the target population. The sample should be

representative to generalize findings to the broader population.

6. Online or Paper-Based: Surveys can be administered online through platforms like Google Forms,

Survey Monkey, or distributed in a traditional paper-based format.

DATA ANALYSIS TOOL:

Microsoft Excel:

Description: Excel is a versatile and widely available tool for basic data analysis. It's suitable for

creating tables, charts, and conducting descriptive statistical analyses.

Pros: User-friendly, readily available, and can handle a range of statistical functions

Cons: Limited for advanced statistical analyses compared to specialized tools.

ERRORS IN THE STUDY

45
Interviewer error

There is interviewer bias in the questionnaire method. Open- ended questions can be biased by the

interviewer's views or probing, as interviewers are guiding the respondent while the questionnaire is

being filled out. The attitudes the interviewer reveals to the respondent during the interview can greatly

affect their level of interest and willingness to answer openly. As interviewers, probing and

clarifications maximize respondent understanding and yield complete answers, these advantages are

offset by the problems of prestige seeking, social desirability and courtesy biases.

Respondent error

The respondents selected to be interviewed were not always available and willing to cooperate also in

most cases the respondents were found to not have the knowledge, opinion, attitudes or facts required

additionally

46
CHAPTER 4 -DATA ANALYSIS & INTERPRETATION

Table No. 1 Marketing Strategy towards Mahindra Scorpio

YES NO

75% 25%

Source: Questionnaire

Interpretation 1:

The sample drawn on probability basis shows that 75% of the customers were satisfied with ICON

product and only 25% were not satisfied with product variant.

Observation: Most of the respondents approached were satisfied with ICON

47
Table No.2 Factor affecting marketing strategies towards ICON

No, of %
percentage
featur
e
Respondent

low
maint
enanc
e
comf
ort

Feature 14 10

Low Maintenance 45 30

Comfort 27 16

Style 24 15

After sales service 35 22

Interpretation 2: The sample drawn on the probability basis. clearly shows that 30% (45respondents)

are the opinion that low maintenance is the satisfaction factor Scorpio and 22% (30 respondents) of

them who view After Sales Service as a vital factor for customer satisfaction. Followed by Comfort

which corresponds to 16 %( 27 respondents), Style with 16% (respondents) and only 10% (14

respondents) of them view that feature of Scorpio as satisfaction factor.

Observation: Majority of the respondent are of the idea that low maintenance of the topmost features.

Contributing to customer satisfaction followed by after sales services comfort style and features.

As such, Mahindra should focus on the aspects, which will enhance the customer satisfaction.
48
Table No: 3 Customer opinions towards product durability

percentage

Extremely satisfied percentage

Satisfied
Neutral
Dissatisfied
Total

Extremely satisfied

27%

Satisfied 49%

Neutral 17%

Dissatisfied 7%

Total 100%

Source: Questionnaire

Figure: 3 Interpretation 3: 100% of the respondents 49% of the respondents approached

were satisfied with the durability of MICA. Followed by 27% was extremely satisfied,

17% are neutral and rest of the 7% is more dissatisfied with durability of ICON

product

Observation: As most of the respondents are satisfied with the durability of product,

the company should maintain the same standard and it is suggested to come up with

suitable measure to reduce the negative opinion among the consumer who are of the

49
opinion that the is a dissatisfying factor.

Table No: 4 Customer opinions toward Design.

percentage

Extremely satisfied Percentage

Satisfied
Neutral
Dissatisfied
Total

Extremely satisfied 20%

Satisfied 40%

Neutral 27%

Dissatisfied 13%

Total 100%

Interpretation: 100% of respondent 40% of the respondents approached were satisfied with WPA.

20% were more satisfied, 27% of them are dissatisfied with the design of the PVC.

Observation: As majority of the respondents are satisfied with the design of ICON product, the

company should maintain the same standard and it is suggested to come up with suitable measure to

reduce the negative opinion among the consumer who are of the opinion that the design is a

dissatisfying factor.

50
 Table No.5 Customer perception about the ICON product

Very Good Good Average Bad Very Bad

20% 47% 21% 12% __

Percentage

Very Bad
Good
Average
Bad

Interpretation 5: The sample drawn on the probability basis shows that out of 100% of respondents

47% of the respondents gave good response to ICON product. 20% gave Very Good response, 21%

gave Average response and 12% gave bad response to product.

Observation: As 67% of the respondents are satisfied that they are happy with ICON product, it

satisfies that the customer satisfaction levels are very high. If the company were to identify the

pitfalls in their product and undertake remedial measure, that it will lead to more good word of

mouth publicity.

51
 CHAPTER 5

5.1 FINDINGS

Based on the data gathered by administrating schedules to customers, the following observations.are

made.

I. ICON products (PLY, MICA, and WPC) have an excellent percentage of customer satisfaction

according to the data shown in table 1 of the data analysis and Interpretation topic.

II. Most of the people are satisfied with its low maintenance cost and after sales service provided by

the company.

III. Based on product durability, most of the people are satisfied with it.

IV. Based on Comfort, Design, & Maintenance most of the people are satisfied with it.

V. If we take the satisfaction level of people toward ICON, it becomes good.

VI. Its features and style satisfy most people.

52
5.2 Recommendation / Suggestion-

➢ Company has to implement a good customer relationship management strategy that enhances
Marketing Strategies level.

➢ The company can for the undertake R&D to improve the existing feature which field help
increase in the Marketing Strategies.

➢ The company should promote all the features offered by it.

➢ As the majority of the customers give the opinion that they are satisfied, the factor, services
and design of the product of the company should not only maintain the existing standard but

also enhance them.

53
 5.3 Limitation

➢ The study of sales and promotion strategies of ICON Enterprises is a research project that aims
to analyze the factors that influence the performance and competitiveness of the company in the

automobile industry. However, like any research project, it may have some limitations that

affect

➢ The study may rely on secondary data sources, such as reports, surveys, and online reviews,
which may not be accurate, reliable, or updated. The data may also be influenced by various

biases, such as sampling bias, response bias, or measurement bias.

➢ The study may use a limited sample size or scope, which may not represent the entire
population or market of ICON Enterprises. The study may also focus on a specific geographic

region, product category, or customer segment, which may not reflect the diversity and

complexity of the company's operations and customers.

➢ The study may use various tools and techniques, such as SWOT analysis, gap analysis,
SERVQUAL model, and Kano model, to identify and evaluate the sales and promotion

strategies of ICON Enterprises. However, these tools and techniques may have some

limitations, such as being subjective, simplistic, or outdated. They may also not capture all the

relevant factors or dimensions that affect the sales and promotion strategies of ICON

Enterprises.

➢ The study may face some ethical issues, such as respecting the privacy and confidentiality of
the customers, dealers, and employees of ICON Enterprises, and avoiding any conflicts of

interest or plagiarism. The study may also need to obtain the consent and approval of the

54
relevant stakeholders, such as the management of ICON Enterprises, before conducting the

research.

55
 5.4 Conclusion

The conclusion of the study of sales and promotion strategies of ICON Enterprises is the summary and

evaluation of the main findings and implications of the research project. A possible conclusion could

be:

The company has adopted various sales and promotion strategies to enhance its performance and

competitiveness in the automobile industry. The objective of this study was to analyze the factors

that influence the sales and promotion strategies of ICON Enterprises, and to suggest

recommendations for improvement. The study used both primary and secondary data sources, such as

surveys, interviews, focus groups, online reviews, and reports, to measure and evaluate the sales and

promotion strategies of ICON Enterprises. The study also used various tools and techniques, such as

SWOT analysis, gap analysis, SERVQUAL model, and Kano model, to identify the strengths,

weaknesses, opportunities, and threats of ICON Enterprises, and to prioritize the customer needs and

expectations.

The main findings of the study are:

I. ICON Enterprises has a strong brand image, reputation, and loyalty among its customers,

dealers, and employees, which gives it a competitive edge in the market.

II. ICON Enterprises has innovated and diversified its product portfolio to meet the changing

needs and preferences of the customers, such as launching PVC PLY with multicolor &

durability.

III. ICON Enterprises has improved its customer satisfaction and loyalty by using customer

relationship management tools and social media platforms to provide information, feedback,

and engagement.

56
IV. ICON Enterprises has improved its financial performance and profitability by using various

ratios and statistical tests to analyze its financial statements and compare them with its

competitors.

V. ICON Enterprises has expanded its global presence and market share by acquiring and

partnering with various companies Century Ply, Durian, Merino.

The main implications of the study are:

The main implications of the study are:

I. ICON should continue to invest in research and development, innovation, and technology to

maintain its leadership position and to cater to the emerging trends and demands of the

customers.

II. ICON should focus on enhancing its service quality, customer experience, and customer

retention, by providing personalized, timely, and reliable services, and by offering loyalty

programs, discounts, and incentives.

III. ICON should adopt a segmented and differentiated marketing strategy, by identifying and

targeting the specific segments, niches, and markets that have the potential for growth and

profitability, and by offering customized and value-added products and services.

IV. ICON should leverage its digital and social media presence, by creating engaging and

interactive content, campaigns, and communities, and by using analytics and feedback to

measure and improve its online performance and reputation.

57
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