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“A Detail Study of the Cotton Cloth Production by Power Loom in the Easter…

***Objectives of the Research Report:-
• To study the current position and situation of the business.
• To find out the strengths and weaknesses of the cotton cloth business in Eastern UP.
• To identify the key opportunities and threats in the cotton business.
• To find out the problems faced by the employees and employees of the business.
• To explain and study the Marketing Mix (Product, Price, Place and Promotion) of the business.
• To explain the possible ways to eradicate weaknesses and problems in the form of ‘Suggestions and Recommendations’.
***SWOT Analysis:-
***Marketing Mix for the Cotton Cloth:

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“A Detail Study of the Cotton Cloth Production by Power Loom in the Easter…

  1. 1. RESEARCH REPORT ON“A Detail Study of the Cotton Cloth Production by Power Loom in the Eastern U.P.” Submitted by- MERAZ ASHRAF MBA- IV Semester Roll no. 0912470054In partial fulfilment of the requirement for the award of Degree of Master of Business Administration by G.B.T.U. Under the supervision of- Ms. SANA Assistant Professor ICCMRT (2009-2011)INSTITUTE OF CO-OPERATIVE & CORPORATE MANAGEMENT, RESEARCH AND TRAINING 467, Sector-21, Ring Road, Indira Nagar, Lucknow-226016 Ph: 2716431, 2716092 Page | 1
  2. 2. DECLARATION I, MERAZ ASHRAF,a student of M.B.A. hereby declare that the research report titled“A detail study of the Cotton Cloth Production by Power Loom in the Eastern UP”iscompleted under the guidance ofMs. SANA,Assistance Professor ICCMRT, Lucknow, is myoriginal work. The findings in this report are based on the primary data collected by me. This project hasnot been submitted to U.P. TECHNICAL UNIVERSITY, LUCKNOW or any otheruniversity for the purpose of compliance of any requirement of any examination or degree.MERAZASHRAF Roll No. 0912470054 M.B.A.IVSem. Page | 2
  3. 3. CONTENTS1. Executive Summary…………………………………………………....032. Introduction to TextileIndustry………………………………………..073. History of Cotton Textile……………………………………………...104. Objectives of the Research Report……………………………………..145. SWOT Analysis of the Cotton Cloth Business ………………………..15 a. Strengths, Weaknesses, Opportunities, Threats b. Porter’s Five Factor Model6. Marketing Mix of Cotton Cloth……………..………………………...327. Problems Faced in the Business……………………………………….458. Methodology…………………………………………………………...479. Findings……………………………………....………………………..4810. Limitations………………………………..…..……………………......5211. Questionnaire …………………………..……..…………………….....5312. Suggestion and Recommendations……..……..……………………….7213. Conclusion……………………………………………………………..7714. Bibliography…………………………………………………………...78 Page | 3
  4. 4. EXECUTIVE SUMMARY This research report focuses on “A detail study of the cotton Cloth production by power looms in the eastern UP”Objectives of the Research Report:- To study the current position and situation of the business. To find out the strengths and weaknesses of the cotton cloth business in Eastern UP. To identify the key opportunities and threats in the cotton business. To find out the problems faced by the employees and employees of the business. To explain and study the Marketing Mix(Product, Price, Place and Promotion) of the business. To explain the possible ways to eradicate weaknesses and problems in the form of „Suggestions and Recommendations‟.SWOT Analysis:- Strengths of Cotton Cloth Producing Industry Local Labour Availability Effective Distribution System Effectiveness of Sales Force Page | 4
  5. 5. Devotion of the Businessmen Weaknesses of Cotton Cloth Producing IndustryUnskilled LabourPoor Training CapacityMismanagement on the Part of the OwnerTraditional Production ProcessPoor Technological SupportLack of professionalismLess Promotional ActivitiesLess Availability of Capital or Capital Sources Opportunitiesof Cotton Cloth Producing IndustryUntapped MarketHigh DemandEstimated NeedInternational Market Page | 5
  6. 6. Threatsof Cotton Cloth Producing Industry Perfect Competition High/Increasing Cost of Raw Material Trend of Western Cloth Culture Environmental Threat; Winter and Rainy Season Seasonal Demand Bargaining Power of the Buyers Bargaining Power of the Suppliers Easy Entry of New Firms Threat of Substitute ProductsMarketing Mix for the Cotton Cloth: Products:Gamchha, Lungi, Saari, Dhoti, Cloth for Kurta-Pajama and Shirt, Bed sheets etc Price: Price mainly penetrating, discounting and concession. And for special product skimming pricing is also applied. Place/Distribution:Distribution channel which is used-Producers to wholesalers to retailer to the end consumer. Promotion:There is very less promotional activities for this business. Page | 6
  7. 7. Problems faced by the Weavers/Businessmen:The following are the main problems which are being faced in dealing cotton cloth business: Electricity Problem: Labour Problem: Raw Material Problem: Problem related to the Production Process: Market Problem Problem of Mechanic/Mehta (Mukadam) Unorganized Business. Page | 7
  8. 8. INTRODUCTIONIntroduction to Textile Industry The term textile is derived from the Latin term „taxere‟ which means „to weave‟.Textile is a very important part of our life, be it the clothes we wear or the bed and furnishingsthat we use in our daily life. The history of textile industry is very rich and has impacted theworld economy in a big way. It is one of the oldest forms of craft and dates back to Neolithicage. Initially twigs, leave and branches were weaved but subsequently other natural fibreswere interlaced to form cloth and fabrics. The wool from sheep was the first to be spurned into yarn and then weaved into fabric.The first spinning wheel was invented in India. It was hand operated and by the 14th centuryhad spread to Europe. In the year 1785, the first power loom was invented in England. Thesteps involved in making a cloth are – harvest and cleaning of fibres wool or cotton, spinningof these fibres into threads or yarns, weaving of thread and yarns into fabric or clothsandfinally dyeing and stitching the cloth into dresses. Despite the industrial revolution anddevelopment in spinning and weaving machines and technology, the handicraft and handloomsector has retained its place making unique fabrics and clothes, which are very much in voguein the global market.The Textile Industry occupies a vital place in theIndian economy and contributes substantiallyto its exports earnings. Textiles exports represent nearly 30 per cent of the countrys totalexports. It has a high weight age of over 20 per cent in the National production. It provides Page | 8
  9. 9. direct employment to over 15 million persons in the mill, power loom and handloom sectors.India is the world‟s second largest producer of textiles after China. It is the world‟s thirdlargest producer of cotton-after China and the USA-and the second largest cotton consumerafter China. The textile industry in India is one of the oldest manufacturing sectors in thecountry and is currently it‟s largest. Page | 9
  10. 10. The Textile industry occupies an important place in the Economy of the countrybecause of its contribution to the industrial output, employment generation and foreignexchange earnings. The textile industry encompasses a range of industrial units, which use awide variety of natural and synthetic fibers to produce fabrics. The textile industry can bebroadly classified into two categories, the organized mill sector and the unorganized millsector. Considering the significance and contribution of textile sector in national economy,initiative and efforts are being made to take urgent and adequate steps to attract investment andencourage wide spread development and growth in this sector. Page | 10
  11. 11. HISTORYCotton Fabrics Cotton fabrics all said to be the pearl of Indian weaving. It were as though thesecraftsmen were magicians and waved wants to produce what seemed like dreams. Theweightlessness of these fabrics has been sung by many poets, comparing them to themoonlight on the tulip or a dewdrop on the rose. Indians have known weaving of material fromcotton since 5000 years. Cotton is woven universally all over India and one can take note ofonly a few places for their distinctive weave. The conventional cotton weaving revolves around „Khadi‟ which is woven by handusing handspun yarn. In India, 23 different varieties of cotton are found. Cotton is used inproducing a wide range of items like: summer wear, saree,bed sheets, napkins, shirts,tablemats etc. Cotton fabric is very popular in India, because of the soft twist imparted by thehand, maintains the hairiness of the yarn to an extent, which gives maximum comfort. Indianstates haveher own traditional weaving tradition. Beautiful saree are produced from cotton. The elegant varieties of saris fromAndhraPradesh, Orissa, Madhya Pradesh, Gujarat and Uttar Pradesh are popular fortheir intricate design maheshwari sari, jamdani sari, gharchola sari, sambhalpuri sari,venkatagiri sari, paithani sari. Page | 11
  12. 12. CottonTextile in India: Cotton textiles count among the oldest industries in India. One can follow it back to thetimes of Indus Valley Civilization, when cotton fabrics of India were in great demand even inthe countries of Europe and West Asia. It used to be a cottage or village industry during thosetimes. The spinning wheel comprised its only machine- simple but exceedingly inventive. Themodern textile industry in India first began at Fort Gloster near Kolkata in early 19thcentury. But it in reality made a head start in Mumbai in the year 1854 when a cotton textilemill was set up there exclusively out of Indian funds. There are several worth mentioning features of the cotton textile industry in India. It isbased on indigenous raw materials. Research shows that in between 1995 and 1996, this textileindustry provided employment to over 64 million persons, next only to agriculture. Thuscotton textile industry is exceedingly meaningful for a country like India, because it is alabour-intensive industry. It alone accounts for near about four percent of the gross domesticproduct. More prominently, it is responsible for 20 percent of the manufacturing valueaddition. Lately, it has been bringing home one-third of India`s total export earnings. The cottontextile industry in India provides livelihood to farmers, and workersengaged in ginning, spinning, weaving, dying, designing and packaging, not leaving sewingand tailoring. It is India`s one of the most traditional and esteemed industry. More importantly,the industry strikes a rational balance between tradition and modernity. While the spinning Page | 12
  13. 13. occupation is rather centralized, weaving is exceedingly decentralized, providing scope fortraditional skills of craftsmen in cotton, silk, zari, embroidery and so on. The hand spun andhand woven khadi holds back the ancient tradition of providing large scale employment.Cotton textile industry in India has all along prospered on its own funds. On the other hand,the country possesses the most contemporary capital intensive and high speed mill-producedcloth with a huge market both at home as well as abroad. The fabrics are basically produced in three sectors - mills, power looms and handlooms.Together they account for around 98.5 percent of the fabrics produced in the country. The millsector accounts for only 5.2 percent of the total fabrics produced in the country, whereaspower looms and handlooms are responsible for nearly 73 percent and 20.3 percentrespectively. For example, the whole sari sector is earmarked for handloom and power loomsectors. The latter also produces hosiery on a vast scale, by and large for export purposes.India also exports quality yarn to Japan and other European economic communities.In India cotton textiles production is basically located in Maharashtra,Tamil Nadu andprovinces of Gujarat. Interestingly, several government programmes have sustained cottontextile industries in almost all the states in the country. In the country, because of irrigationrestrictions, cotton textile productions are heavily dependent on monsoon season. Further, in1997 and 1998 the country had produced 37.4 billion meters of fabrics. Now the proportionbetween natural and human-made fiber is almost equal. The important centers of cottontextiles industry comprise Mumbai, Ahmadabad, Coimbatore, Madurai, Indore, Page | 13
  14. 14. NagpiSholapur, Kolkata, Kanpur, Delhi and Hyderabad. Lately, the readymade cotton garments industry has been developing in tremendousmomentum to cater to foreign markets. They are thus bringing home prized foreign exchange.One of the problems faced by cotton textile industry in India was the old-fashioned technologyof old mills and their industrial sickness. Slowly, but steadily old technology is being takenover by the new one. India is yet to exploit its enormous potential to manufacture classiccotton fabrics, for which there is enormous demand in the upper social classes of theindustrialized countries of the globe. Page | 14
  15. 15. OBJECTIVEObjectives of the Research Report To study the current position and situation of the business. To find out the strengths and weaknesses of the cotton cloth business in Eastern UP. To identify the key opportunities and threats in the cotton business. To find out the problems faced by the employees and employees of the business. To explain and study the Marketing Mix(Product, Price, Place and Promotion) of the business. To explain the possible ways to eradicate weaknesses and problems in the form of „Suggestions and Recommendations‟. Page | 15
  16. 16. SWOTANALYSIS Strengths, Weaknesses, Opportunities and Threats (SWOT). SWOT analysis is a tool for auditing an organization and/or industry and itsenvironment. It is the first stage of planning and helps marketers to focus on key issues.SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknessesare internal factors. Opportunities and threats are external factors.SWOT analysis is astrategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, andThreats involved in a project or in a business venture. It involves specifying the objective ofthe business venture or project and identifying the internal and external factors that arefavorable and unfavorable to achieve that objective. The technique is credited to AlbertHumphrey. Page | 16
  17. 17. In SWOT, strengths and weaknessesare internal factors.  Strengths:characteristics of the business or team that give it an advantage over others in the industry.Strength could be: Your specialist marketing expertise. Location of your business. Quality processes and procedures. Any other aspect of your business that adds value to your product or service. Strengths of Cotton Cloth Producing Industry1. Local LabourAvailability:The laboursthose are required for the production of cottoncloth (from purchasing raw material, washing, processing, knitting, storing, packaging, to thedelivery of the finished goods) are locally easily available.2. Effective Distribution System:The distribution system for procuring raw material aswell as delivering of the finished products to the customers is very strong. Finished productsare being delivered through trucks, private transport at right time. Page | 17
  18. 18. 3. Effectiveness of Sales Force:Though the sale forces are not very much educated yetthey are having a lot of experience in that particular field. And are great positive impact on theselling and distributing of their products.4. Devotion of the Businessmen:Businessmen are fully devoted to their work andmaking their best efforts to reach and/or compete with their competitors.  Weaknesses:Weaknesses are characteristics that place the firm at a disadvantage relative to others.Weaknesses could be: Lack of marketing expertise Undifferentiated products or services (in relation to your competitors). Location of your business. Poor quality goods and services. Damaged reputation.Weaknesses of the Cotton Cloth Producing Industry1. UnskilledLabour:Though all the labours for cotton cloth production are locally available yet they are not somuch skilled as they can effectively perform all their respective works and tasks. Hence Page | 18
  19. 19. decrease the productivity of their own works as well as their respective firms. The reasons fortheir unskilledness are illiteracy and absence of proper training.2. Poor Training Capacity: Neither the owner nor the labours are very much interestedin providing and receiving the training respectively. Owner are running with shortage of extramoney to conduct trainingand some of them do not take it seriously.3. Mismanagement on the Part of the Owner:Majority of the owners are doingtheir business on the basis of their past experience only and are not aware about the presentmodern scientific management techniques of running business organization which are beingused in the present corporate word.4. Traditional Production Process:There are various steps for the production ofcotton cloths and all these steps require modern and advance production process (e.g. JIT,Assembly Line etc.) for efficiency of production. And contrary to this the present EasternUP‟s cotton industry Firms are lacking all these effective and productive process.5. Poor Technological Support:In the eastern UP, the cloth producing machines whichare being used (e.g. power looms, raw yarn washing machine, etc.) are of old techniques whichproductivity are very low as compare to the modern advanced available machines. Page | 19
  20. 20. 6. Lack of professionalism:This business is run by the people who are not mucheducated. In this present era of “Cut Throat Competition” there is dire need of professionalismin the business which will enhance the productivity and proficiency of the business as well asthe employees and employers. There is need of the person who can manage well theprofessionally e.g. a management graduate with experience in the concerned field.7. Less Promotional Activities: At the name of the promotion of the cotton cloth inEastern UP, it‟s very few and whatever is being done that is very poor level. And we all knowthat promotion play very important role in sales and marketing. Through promotion (e.g.advertisement etc.) the customers will be aware aboutthe various products arrival andavailability in the market for the respective brands. The customer then can make „impulsivebuying‟ also. Through promotional activities a proper communication channel will be createdbetween the producers and the customers.8. Less Availability of Capital or Capital Sources: As we know that thereneed forhuge capital in the business of cotton cloth production. Capital is required for purchasingpower looms, land for unit set up and purchasing of raw material. And theweavers/businessmen are not having sufficient capital. In SWOT Opportunities and Threats are External Factors Opportunities:External chances to make greater sales or profits in the environment. Page | 20
  21. 21. An opportunity could be: A developing market such as the internet. Merger, joint ventures, or strategic alliances Moving intonew market segments that offer improved profits. A new international market. A market vacated by an ineffective competitor. Opportunities of Cotton Cloth Producing Industry1. Untapped Market:There is great scope for the consumption of the cotton clothproduction in India. A large population of India wear cotton cloth and especially in summerseason i.e. hot temperature of summer. And there are so many areas in India where we candeliver our cotton cloths.2. High Demand:There is almost no difficulty in creating or searching for the new groundof the demand of cotton cloth. It means there is sufficient demand for selling and marketing ofthe cotton cloths in U.P. as well as other states of India.3. Estimated Need:As we all know that cloth is one of the three basic and most essentialthings (Roti, Kapra, aurMakan) for the survival of human being. Hence the demand of thecloths is very high. Page | 21
  22. 22. 4. International Market: Apart from the domestic market of India for the cloth, there isvery good opportunity for going beyond our own geographical boundary i.e. other countriessuch as USA, EUROPE, BANGLADESH etc.  Threats: external elements in the environment that could cause trouble for the business. A threat could be: A new competitor in your home market. Price wars with competitors. A competitor has a new, innovative product or service. Competitors have superior access to channels of distribution. Taxation is introduced inon your product or service. Threats of Cotton Cloth Producing Industry1. Perfect Competition:In perfect market competition it‟s the consumers who are goingto be benefited through purchasing on low price and in this situation the bargaining power ofthe customer increase. And it‟s the producers who are going to be loss by reducing theirproducts price in order to get maximum customer coverage. And day by day this competitionis going to be very stiff. Page | 22
  23. 23. 2. High/Increasing Cost of Raw Material:The raw material i.e. „yarn‟ constitutealmost 75% to 90% of the total cost of the production of the cotton cloths. And we have seenthat the price of this cotton yarn is increasing very fast. It has been increased from Rs. 450-600(in the year 2008-09) to Rs. 1,000-1250 (in the year 2011)and still increasing very fast day byday.Consequently creates hurdle in purchasing this by middle and lower level of weavers. Andincrease the overall cost of the production.3. Trend of Western Cloth Culture:With the passes of the time the preference of theconsumers change and these changes could be due to the cultural and social factors. In thisregard we see that there is a great impact and influence of the western cloth culture over theIndian societies. Thus reducing the market share of the domestic cotton cloth in the domesticmarket. And day by day western cloth culture is making its great presence in the Indiansocieties (especially upper and middle class).4. Environmental Threat; winter and rainy Season:As we know that cotton clothproduction involve various steps from processing raw material to producing finished products.In which drying or raw material during its process is very important and the same must bedried at the same time without delay. And the winter and rainy season creates problems indrying it. If weavers get it dry in side of the house then it will not work efficiently for thefurther steps of the production process.5. Seasonal Demand:If we talk about the demand of the cotton cloth finished productsthen it‟s very high in hot summer season. And contrary to this, in winter and rainy season the Page | 23
  24. 24. demand is very low. Though the weavers change their products quality according to the seasonand customer requirement, need and want yet it does not create sufficient demand. Hence inthese two season the weavers have to either sold their product at very low price of margin orgo for making stock of the finished products i.e. not possible by the middle and lower level ofthe weavers or businessmen due to huge blockage of money.The other threats to cotton cloth production can be studied through the „Porter‟s Five ForceModel‟of this industry. Porters Five Forces is a framework for industry analysis and business strategydevelopment formed by Michael E. Porter of Harvard Business School in 1979. It drawsupon Industrial Organization (IO) economics to derive five forces that determine thecompetitive intensity and therefore attractiveness of a market. Attractiveness in this contextrefers to the overall industry profitability. An "unattractive" industry is one in which thecombination of these five forces acts to drive down overall profitability. A very unattractiveindustry would be one approaching "purecompetition", in which available profits for allfirms are driven down to zero. Page | 24
  25. 25. Fig: Porters Five Forces Model of Cotton Cloth Production 1. The threat of the entry of new competitors: Profitable markets that yield high returns will attract new firms. This results in manynew entrants, which eventually will decrease profitability for all firms in the industry. Unlessthe entry of new firms can be blocked by incumbents, the abnormal profit rate will fall towardszero (perfect competition).The most attractive segment is one in which entry barriers are highand exit barriers are low. Few new firms can enter and non-performing firms can exit easily. Page | 25
  26. 26. In case of cotton cloth producing industry the following are the threats of the entry ofnew competitors.  Economies of product differences  Brand equity  Switching costs or sunk costs  Capital requirements  Access to distribution  Customer loyalty to established brands  Absolute cost  Industry profitability; the more profitable the industry the more attractive it will be to new competitors 2. The threat of substitute products or services: The existence of products outside of the realm of the common product boundariesincreases the propensity of customers to switch to alternatives. And for cotton cloths thesubstitute products are polyester, cotton-polyester mix cloths, silk, hand loom products,hosiery, rayon, linen etc. These are the following points by which we can understand how the substitute‟sproducts are threats for the existing Cotton Cloth Business.  Buyer propensity to substitute. Page | 26
  27. 27.  Relative price performance of substitute.  Buyer switching costs.  Perceived level of product differentiation.  Number of substitute products available in the market.  Ease of substitution. Information-based products are more prone to substitution, as online product can easily replace material product.  Substandard product.  Quality depreciation. 3. The bargaining power of customers (buyers): The bargaining power of customers is also described as the market of outputs: theability of customers to put the firm under pressure, which also affects the customerssensitivity to price changes. How the cotton cloth producing existing firms or industry face threats anddifficulties from the bargaining power of the customer, can be easily inferred through thefollowing points.  Buyer concentration to firm concentration ratio.  Degree of dependency upon existing channels of distribution.  Buyer volume.  Buyer switching costs relative to firm switching costs.  Buyer information availability. Page | 27
  28. 28.  Ability to backward integrate.  Availability of existing substitutes products.  Buyer price sensitivity.  Differential advantage (uniqueness) of industry products.  RFM Analysis. 4. The bargaining power of suppliers: The bargaining power of suppliers is also described as the market of inputs. Suppliersof raw materials, components, labour, and services (such as expertise) to the firm can be asource of power over the firm, when there are few substitutes. Suppliers may refuse to workwith the firm, or, e.g., charge excessively high prices for unique resources. The following points are threats for the bargaining power of the suppliers of thecotton cloth producing firms. Supplier switching costs relative to the firm switching costs. Degree of differentiation of inputs. Impact of inputs on cost or differentiation. Presence of substitute inputs. Strength of distribution channel. Supplier concentration to firm concentration ratio. Employee solidarity (e.g. labor unions). Supplier competition - ability to forward vertically integrate and cut out the BUYER. Page | 28
  29. 29. 5. The intensity of competitive rivalry: For most industries, the intensity of competitive rivalry is the major determinant of thecompetitiveness of the industry. In case of cotton cloth producing, the bellow mentioned points are showing howthese firms are facing threats as intensity of competitive rivalry.  Sustainable competitive advantage through innovation.  Competition between online and offline companies; click-and-mortar -v- slags on a bridge.  Level of advertising expense.  Powerful competitive strategy.  The visibility of proprietary items on the Webused by a company which can intensify competitive pressures on their rivals. How will competition react to a certain behavior by another firm? Competitive rivalryis likely to be based on dimensions such as price, quality, and innovation. Technologicaladvances protect companies from competition. This applies to products and services.Companies that are successful with introducing new technology are able to charge higherprices and achieve higher profits, until competitors imitate them. Examples of recenttechnology advantage in have been mp3 players and mobile telephones. Vertical integration isa strategy to reduce a business own cost and thereby intensify pressure on its rival. Page | 29
  30. 30. SWOT Analysis Importance: Identification of SWOTs is essential because subsequent steps in the process ofplanning for achievement of the selected objective may be derived from the SWOTs.First, thedecision makers have to determine whether the objective is attainable, given the SWOTs. Ifthe objective is NOT attainable a different objective must be selected and the process repeated.The SWOT analysis is often used in academiato highlight and identify strengths, weaknesses,opportunities and threats. It is particularly helpful in identifying areas for development.Matching and Converting: Another way of utilizing SWOT is matching and converting.Matching is used to findcompetitive advantages by matching the strengths to opportunities.Converting is to applyconversion strategies to convert weaknesses or threats into strengths or opportunities. Anexample of conversion strategy is to find new markets.If the threats or weaknesses cannot beconverted a company should try to minimize or avoidthem. Page | 30
  31. 31. MARKETING MIX The term "marketing mix" was coined in 1953 by Neil Borden in his AmericanMarketing Association presidential address. However, this was actually a reformulation of anearlier idea by his associate, James Culliton, who in 1948 described the role of the marketingmanager as a "mixer of ingredients", who sometimes follows recipes prepared by others,sometimes prepares his own recipe as he goes along, sometimes adapts a recipe fromimmediately available ingredients, and at other times invents new ingredients no one else hastried.Elements of the marketing mix are often referred to as the "Four Ps":1. Product2. Price3. Place4. Promotion Page | 31
  32. 32. Fig: 4Ps and their Respective Attributes Marketing Mix of the Cotton Cloth1. Product: It is a tangible object or an intangible service that is mass produced or manufactured ona large scale with a specific volume of units. Intangible products are service based likethe tourism industry & the hotel industry or codes-based products like cell phone load and Page | 32
  33. 33. credits. Typical examples of a mass produced tangible object are the motor car and thedisposable razor. A less obvious but ubiquitous mass produced service is a computer operatingsystem. Packaging also needs to be taken into consideration. Every product is subject to a lifestyle including a growth phase followed by an eventual period of decline as the productapproaches market saturation. To retain its competitiveness in the market, productdifferentiation is required and is one of the strategies to differentiate a product from itscompetitors. Product MIX: Product mix is a combination of products manufactured or traded by the same businesshouse to reinforce their presence in the market, increase market share and increase the turnoverfor more profitability. Normally the product mix is within the synergy of other products for amedium size organization. However large groups of Industries may have diversified productswithin core competency.Product Categories of the Cotton Cloths: A 1. GamchhaA gamchha is a thin, coarse, traditional cotton towel foundin India and Bangladesh that is usedto dry the body after bathing or wiping sweat and other uses. The term "gamchha" derivesfrom the Bengali which means "wiping (the) body". Gamchha is the local term for a sweattowel. It is often just worn on one side of the shoulder. However its appearance varies fromregion to region. Page | 33
  34. 34. Colorful AbriGamchha White Plain Gamchha Coloured Checked Gamchha City woman Wearing ColouredGamchhhaA fruit vendor wearing a gamchha Coloured Long Size Gamchha Page | 34
  35. 35. 2. Lungi The Lungi also known as a sarong, is a traditional garment worn around the waist in india,Pakistan, Bangladesh, Sri Lanka, Burma, Brunei, Indonesia, Malaysia, Singapore, the Horn ofAfrica, and the southern Arabian Peninsula . It is particularly popular in regions where the heatand humidity create an unpleasant climate for trousers.Depending on local tradition, lungis canbe worn by men and/or women. ColouredCheck LungiesColoured Designed Lungies White Plain Lungi ColouredAbri Lungi Worn By a Urban Man Page | 35
  36. 36. 3. Dhoti The dhoti is the traditional mens garment in the Indian subcontinent in India, Bangladesh,and Sri Lanka. A similar garment is worn in some rural areas of Punjab province in Pakistan,but the use is fast declining. It is a rectangular piece of unstitched cloth, usually around 7 yardslong, wrapped around the waist and the legs and knotted at the waist. The highest number of dhoti wearers is found in the western states ofGujarat, Rajasthan and Maharashtra. Dhoti wearers are predominant in the statesof Tamilnadu, Kerala, Andhra Pradesh, Karnataka, Bengal, UP and Orissa too. In thenorthern parts of Gujarat and southern parts ofRajasthan the dhoti is worn with ashort kurta called kediya on top. In northern India and West Bengal, the garment is worn witha kurta on top, the combination known simply as dhoti Kurta. Full Size White plain Dhoti Kids Size Colour Dhoti Page | 36
  37. 37. 4. Saari An outer garment worn chiefly by women of India and Pakistan, consisting of a length oflightweight cloth with one end wrapped about the waist to form a skirt and the other drapedover the shoulder or covering the head. Saari for Urban and City Women Saari for Rural and Village Women Page | 37
  38. 38. 5. Bed Sheet A bed sheet is a piece of cloth used to cover a mattress. It is this sheet that one typicallylies on. In many areas of the world, a second flat bed sheet is laid on top of the sheet coveringthe mattress. This is known as a "top sheet" and when a top sheet is used, the sheet coveringthe mattress is known as a "bottom sheet". Bed sheets come in two main varieties--flat or fitted. A flat sheet is simply a rectangularsheet of cloth, while a fitted sheet has its four corners, and sometimes two or foursides, fitted with elastic, to be used only as a bottom sheet. The fitted sheet may also besecured using a drawstring instead of elastic. Bed sheets were traditionally white, but nowvarious colors and patterns are used. The quality of bed sheets is often conveyed by the threadcount - the number of threads per square inch of material. In general, the higher the threadcount, the softer the sheet,Large Check Coloured Bed Sheet Flower Shed Coloured Bed Sheet Page | 38
  39. 39. 6. Shirt Cloth A shirt is a cloth garment for the upper body. Originally an undergarment wornexclusively by men, it has become, in American English, a catch-all term for almost anyupper-body garment other than outerwear such as sweaters, coats, jackets, or undergarmentssuch as bras, vests or base layers. In British English, a shirt is more specifically a garment witha collar, sleeves with cuffs and a full vertical opening with buttons or snaps. (North Americanswould call that a "dress shirt", a specific type of "collared shirt"). A shirt can also be worn witha necktie under the shirt collar. Large Check Coloured Shirt Cloth Plain Coloured Shirt Cloth Various Design of Shirt Cloths Light Coloured Lining Shirt Cloths Page | 39
  40. 40. 7. Cloth for Kurta-Pajama: A Kurta isa traditional item of clothing wornin Afghanistan, Bangladesh, India, Nepal, Pakistan, and Sri Lanka. It is a loose shirt fallingeither just above or somewhere below the knees of the wearer, and is worn by both men andwomen. They were traditionally worn with loose-fitting paijama (Kurta-paijama), loose-fitting salwars, tight-fitting churidars, or wrapped-around dhotis;[1] but are now also wornwithjeans. Kurtas are worn both as casual everyday wear and as formal dress. Cotton Cloths for Kurta and Pajama Page | 40
  41. 41. 2.Price –The price is the amount a customer pays for the product. The business may increaseor decrease the price of product if other stores have the same product.In case of setting theprice of cotton cloths, it is basically set by the businessmen while keeping the demand of theproduct in the mind. The market conditions play a very important role in deciding the price ofthe product. Since there is very stiff competition among the producers hence the price isbeing set at a very low profit margin. In this business, buying power of the customer isvery dominant. The demand of these products rise in the summer season in which theweavers/businessmen get good profit as compare to the that of winter and rainy season profitmargin. In this way the price of the same product keep on fluctuating on the basis of theseason. For new entrant generally „Penetrating Pricing Policy‟ is being adopted. Apart fromthat discounting, Competition Oriented Pricing, Going Rate pricing. And for specialproductsSkimming Pricingis being adopted.3.Place –Place represents the location where a product can be purchased by the customer. Itis often referred to as the distribution channel. It can include any physical store as well asvirtual stores on the Internet. In case of cotton cloth products distribution, is done basicallythrough intermediaries i.e. wholesalers. And then the whole sellers supply/distribute them tothe end customers and/or consumers through their respective Retail Stores. For selling theproducts to the wholesaler by the weavers/businessmen, there are markets which open onlyweekly, fortnightly and not on daily basis. In these markets the manufacturers and the Page | 41
  42. 42. wholesalers come in contact to each other and make their respective works i.e. selling andbuying of the same. For some producers the wholesalers make their order through telephoneand the products are being supplied to the buyers‟ places.4. Promotion: It represents all of the communications that a marketer may use in themarketplace. Promotion has four distinct elements: advertising, public relations, personalselling and sales promotion. A certain amount of crossover occurs when promotion uses thefour principal elements together, which is common in film promotion. Advertising covers any communication that is paid for, from cinema commercials,radio and Internet adverts through print media and billboards. In case of cotton cloth in theeastern UP, advertisement is very low; only a few Upper Level Businessmen go for advertisingtheir products. Hence awareness about other products of middle and lower levelweavers/businessmen are very low. Public relations are where the communication is not directly paid for and includespress releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events.Word of Mouth is any apparently informal communication about the product by ordinaryindividuals, satisfied customers or people specifically engaged to create word of mouthmomentum. Sales staff often plays an important role in word of mouth and Public Relations.If Page | 42
  43. 43. we talk about the cotton cloth in the Eastern UP, „Word of Mouth’ play a very important roleinincreasing the sales volume. Personal Selling and Sales Promotion-In cotton cloth business we also find somepersonal selling by the Medium and Lower level of weavers and/or businessmen. Thiscontributes a lot in their overall sales volume. While sales promotion activities are very fewand whatever is being done in this regard that is being done by Upper and Upper Middleweavers/businessmen. Page | 43
  44. 44. PROBLEMS FACED BY THE WEAVERS The following are the main problems which are being faced in dealing cotton cloth business:1. Electricity Problem: The electricity which is being provided to the weavers are common for the household and business purpose. And the timing for the household can be adjusted for the various purpose but for the operating of various machines (for the production of cloth) such as power looms, other thread processing machines etc. cannot be operated in the night shift, especially when it comes in late night. It creates problems for night duty workers and still the time schedule is not conforming. Whatever the electricity is being provided is very much less than actual requirement.2. Labour Problem: Labours are generally not interested in working for the operating of the power loom and day by day they are leaving this field and joining some other field of business. And they go for so higher level of profession, not as a lower level of worker.3. Raw Material Problem: Since raw material is not being produced in this state, its cost is very much high. And the low level of weaver finds it very difficult to purchase as and when it require. Page | 44
  45. 45. 4. Problem related to the Production Process: As we know that most of the person engaged in this business (either Employers or employees) are not much literate, hence are not in position to initiate some innovative process in between the production process. Neither they are using the modern technology for processing due to lack of sufficient fund.5. Market Problem: For any product or service to be sold, there must be sufficient markets and market places. And contrary to this there are very few places (markets) where the weaver can sell their products to the retailers or final customers. There should some more markets where these businessmen can easily sell their products to the maximum customer and their reach can be up to a very wide areas consequently increasing the overall business industry. Page | 45
  46. 46. METHODOLOGY SOURCES OF DATA Primary source of data collection SAMPLE SIZE 70 Respondents METHOD OF DATA COLLECTION Cluster method of probability sampling DATA TABULATION All the data was in raw from which had to be segregated from the whole mass of rawdata and the required and relevant figures tabulated for easy reference and study. INSTRUMENT USED Personal contacts, Telecalling from Data, References & Structured questionnaire TOOLS AND TECHNIQUE OF ANALYSIS M.S.Word and M.S. Excel. Page | 46
  47. 47. FINDINGS FindingsRelated to SWOT Analysis Strengths of Cotton Cloth Producing IndustryLocal Labour Availability for overall cotton cloth production.Effective Distribution System of the finish product.Effectiveness of Sales Force.Devotion of the Businessmen towards the cotton cloth business. Weaknesses of the Cotton Cloth Producing IndustryUnskilled Labour for the various process of the cotton cloth production.Poor Training Capacity of the weavers/businessmen.Mismanagement on the Part of the Owner of the cotton cloth business.Traditional Production Process of the cloth.Poor Technological Support in production process.Lack of professionalism in performing business activities.Less Promotional Activities for their products.Less Availability of Capital or Capital Sources for the business. Page | 47
  48. 48. Opportunities of Cotton Cloth Producing IndustryUntapped Market for the cotton cloth in many parts of the country.High Demand of the cotton cloths in summer season.Estimated Need of the cloth demand.International Market available for this cotton cloth business. Threats of Cotton Cloth Producing IndustryPerfect Competition among the cotton cloths producers.High/Increasing Cost of Raw Material i.e. yarns.Trend of Western Cloth Culture in Indian market.Environmental Threat; winter and rainy Season for the demand and production process.Seasonal Demand of the cotton cloths. Treats on the basis of the study of Porters Five ForcesThe threat of the entry of new competitors for the cotton cloth production is very muchharmful.The threat of substitute products e.g. polyester, cotton-polyester mix cloths, silk, handloom products, hosiery, rayon, linen, and foreign cloths etc. is very influential in thisbusiness.The bargaining power of customers (buyers) reduces the profit margin of the weavers. Page | 48
  49. 49. The bargaining power of suppliers increase the overall cost of cotton cloth production. The intensity of competitive rivalry is very high and adversely affects the business profits. FindingsRelated to Marketing Mix1. Product: The main products which are being produced on a large scale in the Eastern UP, are Gamchha, Dhoti, Lungi, Saari, Shirt Cloths, Cloths for Kurta-Pajama, Bed sheets etc.2. Price: In cotton cloth business in Eastern UP mainly Penetrating, Discounting, Competition Oriented Pricing, Going Rate pricing and for some special or newly launched product by some businessmen Skimming Pricing is being adopted.3. Place/Distribution: The cotton cloth products are being distributed to the end customer/consumers through the intermediaries i.e. wholesaler to retailer to the final customers.4. Promotion: In the arena of promotion of the cotton cloth advertisement is used by only very few businessmen especially Upper class businessmen. Personal selling is very apparent in this business. Word of mouth and public relation are very much supportive in the cotton cloth production in the Eastern UP. Page | 49
  50. 50. FindingsRelated to Business ProblemsThere are some major problems which are being faced by the weavers/businessmen while dealing with their business. Electricity Problem. Labour Problem. Raw Material Problem. Problem related to the Production Process. Market Problem. Problem of Mechanic/Mehta (Mukadam). Unorganized Business. Page | 50
  51. 51. LIMITATIONSDue to the time constraint I have to collect various data in very short span of timeand due to hurry up there may be some inaccuracy in collecting, sorting,classifying, analyzing and interpreting them.This report is based on only 70respondents.The observation was done for majority of respondents in the district SantKabirNagar and nearby districts producing cotton cloths.Purity of report depends on the respondents how willingly they gave given theanswer.Since most the respondents are not very much literate, there should someproblems in responding for the asked questions.A lot of accuracy of the collected information from respondents depend up ontheir willingness to correct response and no biasness of them for responding onany of the topic. Page | 51
  52. 52. QUESTIONAIRE1. Had you not the unit then what might be your other alternative? A) Job B) Education C) Other 10% 20% 70% Job Education Other businessInterpretation-Among all the respondents asked for the other alternative they would have been choose,70% of them said other Business, 20% go for Education and only 10% of them forJob. Page | 52
  53. 53. 2. What is the source of the startup capital?  A) Own  B) Friends & Relatives  C) Bank/Financial Institution Source of Startup Capital 5% 5% 90% Own Friends & Relatives Bank/Financial InstitutionInterpretation-Out of 100% respondents asked for their source of Startup capital, 90% of themrespond as from their own,5% go for Friends and 5% for Banks/FinancialInstitution. Page | 53
  54. 54. 3. How do you get your working capital?  A) Business Profit  C) Friends/Relatives  B) Own  D) Others Source of Working Capital 4% 2% 10% 84% Business Profit Own Friends/ Relatives OtherInterpretation-Among all the respondents asked for the source of their working capital, 84% of themsaid from business profit, 10% said from own, and 4% from friends and only 2% ofthem from others. Page | 54
  55. 55. 4. Have you ever availed any loan facilities? A) Yes B) No Availing Loan Facility 5% 95% Yes NoInterpretation-Out of 100% respondents asked for Loan facility ever availed by them, 95% of themrespond as No and 5% respond as Yes. Page | 55
  56. 56. 5. Support and attitude of financial institution?  A) Helpful  B) Indifferent Financial Institution 35% 65% Helpful IndifferentInterpretation-Among all the respondents asked about the support and attitude of the financialinstitutions/banks, 65% of them said as Helpful,35% said Indifferent. Page | 56
  57. 57. 6. Do you have the entire fund you need?  A) Yes  B) No Needed Fund 70 60 50 40 30 65 20 35 10 0 Yes NoInterpretation-From all the respondents asked for availability of the entire fund with them what they need forthe business, 35% said Yes and 65% said No. Page | 57
  58. 58. 7. Are your products standardized?  A) Yes  B) No Product Standardization 80 60 40 72 20 28 0 Yes NoInterpretation-According to the 28% of the total respondents enquired for –whether their products arestandardized or not, respond as Yes and 72% responded as No. Page | 58
  59. 59. 8. Has more mechanization been introduced?  A) Yes  B) No Level of Mechanization 70 60 50 40 30 20 10 0 Yes NoInterpretation-From all the respondents asked for the level of mechanization in their business,35% said Yesand 65% said No. Page | 59
  60. 60. 9. Is there any future planning to change the technology?  A) Yes  B) NO Technology Planning 80 60 40 72 20 28 0 Yes NoInterpretation-Among all the respondents asked about the future planning to change the technology,28% of them said as Yes and 72% said No. Page | 60
  61. 61. 10. Are some better techniques available in the market?  A) Yes  C) Unaware  B) No Availability Of Techniques 100% 80% 60% 40% 35 25 20% $65 0% Yes No Unaware Interpretation- According to the 35% of the total respondents enquired for –is there some better techniques available in the market, respond as Yes, 25% responded as No and 65% said that they not aware about that. Page | 61
  62. 62. 11. Do you get all the needed raw material locally?  A) Yes  B) No Locally Raw Material Availability 10% 90% Yes NoInterpretation-From all the respondents asked for the locally availability of the raw material used in theirbusiness for producing cotton cloths,90% said Yes and only 10% said No. Page | 62
  63. 63. 12. Are your customers satisfied with the quality of your products?  A) Yes  B) No Customer Satisfaction Level 26% 74% Yes NoInterpretation-Among all the respondents asked about the satisfaction of their customers with theirproducts, 74% of them said as Yesand only 26% said No. Page | 63
  64. 64. 13. Do you face any problem in marketing of your products?  A) yes  B) No Marketing Problem 30% 70% Yes No Interpretation- According to the 70% of the total respondents enquired for –whether they face any problem in marketing of their products, responded as Yes and 30% responded as No. Page | 64
  65. 65. 14. Do you feel that marketing research is effective in determining the qualityand quantity of product in various marketing research?  A) Yes  B) No Marketing Research 20% 80% Yes No Interpretation- From all the respondents asked for- whether marketing research is effective in determining the quality and quantity of products in various marketing research, 80% said Yes and only 20% said No. Page | 65
  66. 66. 15. Have you ever conducted market survey?  A) Yes  B) No Market Survey 24% 76% Yes NoInterpretation-Among all the respondents asked whether they have ever conducted market survey,only 20% of them said as Yesand 80% said No. Page | 66
  67. 67. 16. What is the reason for decline of the business in recent last years?  A) Inadequate leadership  C) Failure to change  B) Poor Planning  D) Soaring Yarn Price Reason for Business Decline 10% 15% 64% 11% Inadequate Leadership Poor Planning Failire to Change Soaring Yarn PriceInterpretation-According to the 64% of the total respondents enquired for the reason of “declining of thebusiness in the recent past years”, responded as “Inadequate Leadership”,15 as “PoorPlanning”, 11% as “Failure to Change” and 10% responded as “Soaring yarn Price”. Page | 67
  68. 68. 17. How can you get better price of your products?  A) By improving quality of the  C) Adopting sales promotion products  D) Unable to decide  B) By lowering the quality of the products Better Price for Products 5% 11% 17% 67% A B C DInterpretation-From all the respondents asked for- How can they get better price of your products, 67%saidas “By improving quality of the products”, 17% said as “By lowering the quality ofthe products”, 11% said as “Adopting sales promotion”and only 5% said as “Unableto decide”. Page | 68
  69. 69. 18. Who manage the working of the factory or unit?  A) Themselves  C) Jointly  B) Their wife  D) Other Managing the Factory 18% 11% 63% 8% Themselves Their Wives Jointly Other Interpretation- Among all the respondents asked about „the person who manage the factory or unit‟, 63% of them said as “Themselves”,8% said as “Their wives”, 11% said as “Jointly” and18% said by “Other”. Page | 69
  70. 70. 19. Have you trained the person to manage the factory or the unit?  A) Yes  B) No Training 36% 64% Yes NoInterpretation-According to the 36% of the total respondents enquired about whether they have evertrainedthe person to manage the factory or the unit, responded as “Yes” and 64% responded as “No”. Page | 70
  71. 71. SUGGESTIONS AND RECOMMENDATIONS These may be as following:1. Cone system instead of unprocessed yarn:The main raw material for cotton cloth is thread/yarn that is in its pure raw form withoutprocessing or finishing it. Though it is available in processed and cone form in the market butits price is too much high for Eastern UP cotton cloth producers. Government should provide itin cone form at cheaper rate so that the producers can include this in their budget.2. Availability of electricity:As we know that electricity is the only source by which power looms are being operated.Hence the State Govt. must provide sufficient and regular electricity at a cheaper rate to thecloth producers. And that electricity should be provide with due consideration of with respectto time shift.3. Control on the soaring of raw material:From the year 2009 to 2011 the yarn (raw material) prices has been raised tojust double andstill keep on rising. On the other hand the price of finish products has just increased 15-25%.So the Government must make some regulation and policies to control this soaring price andalso make government control over the fluctuation (specially increase in price) of yarn price sothat the „Bargaining Power of the Supplier‟ can be reduced. Consequently the weavers canget some benefits in the form of reduce in cost of overall cloth production. Page | 71
  72. 72. 4. Waste management (trained professional):Cotton cloth production involves various steps form processing of raw material to finishedproducts. And at almost all the steps, there is some wastage which is the result of unsystematicand traditional or lack of modern production techniques of cloth in these areas. If theentrepreneurs and/or the government take managing all these wastages seriously by applyingdifferent modern techniques of waste management in the field of cotton cloth production. Itwill not only reduce the overall cost of production but also increase the production processefficiency as well as employees working efficiency. For that matter the entrepreneurs can hiresome special waste management trained professionals and also trained the existing employeefor the same.Possible Areas to Deal withWaste Management for cotton cloth: 1) Overproduction 2) Delays (waiting time) 3) Transportation 4) Process 5) Inventories 6) Motions 7) Defective products 8) Untapped Resources 9) Mis-used Resources Page | 72
  73. 73. 5. Government policies:As we know that these weavers/businessmen are not getting any special support exclusivelyfor their cotton cloth production from the government. Contrary to this, the other sector ofeconomy e.g. agriculture, government is providing sufficient support in the form of subsidy,minimum support price, interest free or very low or nominal interest rate loan to the farmers atthe root level. And whatever the little bit supports are being given by the government that aregiven to mainly higher level of business and the root level or the real cotton cloth weavers arenot getting the benefits of these. So in this regard government must make such policies at thegross root level and upper level for various support (financially, technically, managerially, andother resources facilities supports). Apart from that the not only be formulated but also theirproper and systematic implementation is very much important. This is because there are somepolicies of the government, they have been formulated but their implementation is very poorand the real Weavers of cotton cloth are not getting any benefits from these policies. So whatthe worth of these policies? Is there any? No!6. Availability of loan at cheaper interest rate:Though the government is providing loan facilities to the weavers yet their result is notvery much useful and supportive. The main reason behind it is that the rate of interest iscomparatively higher for repaying it. And there is also problem in getting sanctioned ofthe loan. Only the businessmen who are having good link with the loan providing Page | 73
  74. 74. institutions say banks etc. are getting loan sanctioned and lower level of weavers arenot getting loan who are the weavers (Bunkers) in real sense. Hence the rebatefacilities are being utilized by comparatively high or upper level of businessmen only.In this regard government should also make root level and/or local level committees forlooking after the proper implementation of all these things.7. Subsidy for fixed Assets:For cotton cloth production there is dire requirement of some fixed assets e.g. Power loom,Land and building for setting up production unit, Space for storing of raw materials and otherinfrastructural facilities, without which production is not suppose to be done at any way. Andall these require a large amount of money and finance to purchase them. A marginal weavercan‟t easily purchase all that in one go. So the government must provide some subsidies (withits proper implementation) in purchasing of all these assets especially power loom. And fromthe last 3 to 4 years the price of power loom has increased form Rs. 20,000-25,000 toRs.40,000 -50,000 and still keep on rising. And the price of land is also increasing in its ownway. So subsidy can support a lot to the weavers and entrepreneurs.8. Technological advancement.9. Government minimum support price:10. Formation of government committees at the root level. Page | 74
  75. 75. 11. Government support in promotion and growth of export of cotton cloths (finishedProduct).12. Entrepreneurial development programs by government.13. Management and employee training of program.14. Supply of raw material (yarn) by government or under the control of the governmentinstead of private players/ dealers. Page | 75
  76. 76. CONCLUSION As we know that clothes are the one of three most essential things(Roti,KapraaurMakan) for the survival of the human being. Though the weavers of theEastern UP are facing a lot of problems in running overall business of the production ofthe cotton cloths. Yet there are still huge demands for the cotton cloths in UP, India andin the entire world. The weavers can make their business up to a very great height. Andfor achieving this they are making a lot of efforts. In this regard the Government actualsupport is very much important. If we talk about the export of the cotton cloth to some foreign countries, it‟sperforming very well and day by day the growth is continue with high rate. Page | 76
  77. 77. BIBLIOGRAPHYMagazines & News Papers- Times of India Business World The Economic TimesBooks- Kotler Philip – Marketing Management (Pearson Education 12th Edition) Wheelen Thomas L., Hunger J. David and RangrajanKrish – Concepts in Strategic Management and Business policy (Pearson Edition)Websites- www.google.com www.wikipedia.com www.yahoo.com Page | 77

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