definition of research methodology

7/28/2019 Definition of Research Methodology

1/22

DEFINITION OF RESEARCH METHODOLOGY & DESIGN

Research study will be based on collection of primary data as well as secondary.

Research Methodology is a way to systematically solve the research problem. It may be

understood as a science of studying how research is done scientifically. The study of

research methodology gives the student the necessary training in gathering material and

arranging them.

Research Comprises defining and redefining problems, formulasting hypothesis or

suggested solutions; collecting, organizing and evaluating data; making deductions and

reaching conclusions; and atlast carefully testing the conclusions to determine whether

they fit the formulating hypothesis.

-Clifford Woody

Research is an academic activity and as such the term should be used in

technical sense. Research is the systematic approach concerning, generalization &

formulation of theory.

RESEARCH DESIGN

It is an exploratory research design.

studies are also termed as formulative research studies. The main purpose of

such studies is that of formulating a problem for more precise investigation or of

developing the working hypothesis from an operational point of view. The major

emphasis in such studies is on the discovery of ideas and insights. As such the research

design appropriate for such studies must be flexible enough to provide opportunity for

considering different aspects of a problem under study.


2/22

DATA COLLECTION

The task of data collection begins after are research problem has been defined

and research design/plan chalked out. While deciding about the method of data

collection to be used for the study, the researcher should keeps in mind two types of

data

(a) Primary Data

(b) Secondary Data

Collection of Primary Data

The Primary data are those which are collected afresh and for the first time.

Primary data will be collected by researches by questionnaire, observation, interviewing

the executive engaged in formulating as well as implementation of marketing procedure

and its accounting, for the purpose, technique of satisfied random sample will be used

and a sample of 15 employees will be selected randomly. Moreover the researcher will

also interview the management and executive, looking after the marketing and store

accounting in IL, Kota. in my research I have opted questionnaire method which was

filled by marketing department and procurement division.

The researcher will also make on the spot study by using the observation

technique of data collection.

COLLECTION OF SECONDARY DATA

The secondary data are those which have already been collected by someone

else and which have already been passed through statistical process.

For collecting secondary data the researcher has taken the help of published

report/information of IL Accounts and Balance Sheet, Newspaper, Periodicals Journals

and Magazines etc. related to this study. After collecting the data by primary as well as

secondary sources the researcher has classifed, tabulate and interpret the same by using

the various statistical tools and techniques such as mean, mode, median, standard

deviation, correlation etc.


3/22

TYPE OF SAMPLING

Simple random sampling technique was used.

SAMPLE SIZE

While preparing the project report I will take the response to certain questionnaire from

IL employees. The sample of 15 employees has selected randomly.


4/22

JUSTIFICATION FOR CHOOSING A PARTICULAR TOPIC

STUDY OF MARKETING PROCESS OF INSTRUMENTATION LIMITED

RATIONALE BEHIND THE STUDY

Now a days the impact of globalisation is very vast and it becomes the need of

an hour. It is not possible for a company to survive alone. Globalisation not only

provides a platform for fair competition but open gateway for more and more Research

& Development. In the whole process what ultimately gained are better products at

competitive prices. If we get better products then we can provide our customers better

equipments and can satisfy to them.

This is not only provides scope of betterment and sophistication of techniques

i.e. method of production but broadens the horizon of business.

Marketing is an important aspect of the business. Marketing means to identify

customer needs and then providing them. It is very difficult to move global. Financial

success often depends on marketing ability. Finance operations. Accounting and other

business functions will not really matter if there is not sufficient demand for products

and services so the company can make a profit.

To sell the product in a global market is not an easy task. Marketing managers

must make major decisions such as what features to design into a new product, what

prices to offer customers, where to sell products and how much to spend on advertising.

For this a complete understanding related to marketing and stores is must.


5/22

COMPANY PROFILE

* Vision of the company

* Objectives of the company

* History of the Company

* Organisation Structure

* Board of Directors of I.L.

* Kota Unit

* The Organisation

* Products of Instrumentation Ltd.

* Customers of Instrumentation Ltd.

* Present Status of Instrumentation Ltd.

* .Future of I.L.

* Achievements & Awards.


6/22

Corporate Vision

To become a leading world class Engineering Organization focused on customer

satisfaction in the field of Control Instrumentation; Automation for Core Sector viz.

Power, Steel, Refineries & other Process Industries; Telecommunication; Railway

Signalling, Industrial UPS, Knowledge based systems such as IT & Software and

Services; Electrical Transmission & Distribution; GIS/GPS,SCADA system.

Objective of Instrumentation Ltd.

1. Productivity :

* To ensure optimum utilization of all the facilities in Manufacturing

Division.

* To ensure optimum utilization of facilities created for manufacturing of

Railway Signalling System.

* To realize greater operational efficiency, improved productivity and

higher capacity utilization and generation of internal resources.

2. Business :

* To undertake financial restructuring of the company to be more

competitive.

* To endeavor to achieve reasonable return on investments.

* To further increasing its contribution in the companys value of

production and profitability.

* To maintain 10% annual growth in the turnover of the company

excluding the bought out items.

* To revaluate the corporate plan for higher growth and dividend objective.

3. Customers :

* To achieve and maintain high degree of customer satisfaction with

timely delivery of quality, products and services at competitive rates and

also establish customer feedback system.

4. Employees :


7/22

* To upgrade the quality of human resources and strengthen the technical

and managerial competence for growth.

* To achieve higher levels of safety standards.

* To restructure the manpower by rationalization.

PROFILE OF

INSTRUMENTATION LIMITED

Instrumentation limited is a Govt. of India Enterprise set up in 1964 with the

prime objective of attaining self-reliance in the field of Control & Automationfor the process industry. Today IL is manufacturing & supplying state of the art

control equipments on turnkey basis to the various sectors of the industry viz.

Power, steel, fertilizer, chemical and petrochemical.

Instrumentation limited is headquartered at Kota along with its Commercial

Division specialization in power and steel sectors. The regional & field offices,

at different sites look after the installation work. The marketing division is

based in New Delhi with branch offices in Calcutta, Chennai & Mumbai. IL

has its plants at Kota & Jaipur.

With over 35 years of experience & a dedicated workforce, IL has mastered all

complexities of control systems requirements & can lead right through any

industrial project from system designing, to detailed engineering ,

manufacturing , installation ,final commissioning to after sales service &

customer training. IL is now diversifying in to the field of Telecommunication,

Power Electronics & Railway signaling systems.


8/22

HISTORY OF THE COMPANY

Most of the instruments required for Process Control Industries alongwith main

equipments were being imported in early 1960. Process Control Industries were

growing at rapid rate, so we import the Instruments.

In order to minimize the import to Process Control Instrument and to achieve

self reliance in this vital field a decision was taken by the Government of India to set up

aFactory (Industry) in the Public Sector to manufacture Process Control Instruments

and Allied Items.

Instrumentation Limited is a Govt. of India Enterprise set up in 1964 with the

prime objective of attaining self reliance in the field of control and automation in the

process industry. Today IL is manufacturing and supplying state-of-the-art control

equipment on turnkey basis to various sectors of the industry viz. Power, Steel,

Fertilizer, Chemical, Petrochemical, Refineries, Pharmaceutical, Cement, Paper,

Textile, Space and Oil & Gas Tele-Com, Flownozal valve Uninterrupted Power Supply

(UPS) Mobile Towers etc.

Kota Plant was setup in technical and financial collaboration with USSR and it

commended commercial production in the year 1968. As a part of its continued efforts

for modernization and standards, the company has entered into technical know-how and

assistance agreements within two internationally renowned manufacturers based at

Britain and West Germany of Process Control Instruments.

The second production unit of the company was established in Palakkad formanufacturing of Control Valves and allied items for which technology is provided by a


9/22

leading Japanese Company, viz. Yamatake Honeywell Co. Ltd. the unit commended

production in December 1975 and has significantly contributed to overall growth of the

companys financial results with its well established mechanical shops and other

infrastructure.

KOTA UNIT

This plant is located at Kota-Jhalawar Road Kota-5 (Raj.). It is the birth place of

Instrumentation Ltd.

This production unit was setup in collaboration with M/s Premmash Export

USSR. This plant commenced its sophisticated process control instruments in various

ranges.

The Kota plant cater the need of industrial process control instruments required

by various Thermal Power Station, Electricity Boards, Steel and Chemical Plants,

Chemicals industries, Paper industries and other Heavy Engineering units.

Just from the first year of production the company has been successfully

supplying instrumentation and control equipments and has achieved all time high record

of production, turn over in profit. It has continued to play its vital role in speedy

development of process industries through out the countries in such a brief period and

the company has achieved a leading, reputable and important position not only in India

but in abroad also.

Today, the Corporate R&D center of the company is an independent wing like

other units of the company with its own proto-type development shop, various

laboratories and other amenties, manned by well qualified technical personnel and

headed by Executive Director.


10/22

I.L. has its registered and corporate office at Kota (Raj.). Manufacturing

facilities accredited with ISO 9000 series. Quality System Certification are located at

Kota & Palakkad (Kerala).

PERFORMANCE AT A GLANCE

In the year 2005-06 through sustained efforts of the company for performance

enhancement and with the support of Govt. of India and all other concerned

stakeholders, the company has been successful in achieving a higher turnover of Rs.

21,998/- lacs as compared to previous years turnover of Rs. 17,585/- lacs. The

company has also been successful in recording operating profit of Rs. 1,304.92 lacs for

the year 2005-06 as compared to previous year operating profit of Rs. 1,091.74 lacs.

The net loss for the year 2005-06 was Rs. 2,450.84 lacs as compared to previous year

loss of Rs. 1,697.81 lacs

Instrumentation Limited has been able to maintain its operations despite various

constraints, mainly the shortage of working capital. In recent years despite challenges

the company has been implementing its BIFR approved sanctioned scheme and

displayed resilience to adopt new economic scenario. Since the implementation of this

scheme from 1st April 1999 the business has been upbeat. In fact, the current year i.e.

2001-02 has been better than previous year for the corresponding period. The company

has been able to address the main constraints of high wage bill due to surplus manpower

and high interest cost. Both these factors have been brought down by way of

rationalization of manpower and financial restructuring and repayments to creditors.

The company has been receiving excellent support from the owner, i.e. Government of

India. Further, State Government of Rajasthan has also extended support for raising


11/22

funds through sale of surplus land at Kota complex. With all these achievements that

companys business is growing. In the power sector also the company has secured and

executed some prestigious orders like Santhaldih project of WBSEB, Obra 6 & 7

project of UPRVUN during the year 2000-01 I.L. is finalizing a major order for RoperPower Station of Punjab State Electricity Board. The company is enjoying technical &

business support from business partners. The companys capability could also be

gauged by other business segments, as it has performed well in supply of state-of-art

equipments by way of MAX-XL Telephone Exchanges supplied at over 250 locations

throughout the country. The diversified field of Railway signaling and Defence

Electronics is also yielding good response. The company continues to maintain cutting

edge of competition through adherence to international quality standards, high standards

of customer service in its business strong hold of control Instrumentation and

Telecommunications.

PRESENT STATUS OF INSTRUMENTATION LTD.

IL has incurred additional cash losses because of delay in implementing of

sanctioned revival scheme. Due to acute shortage of working capital the company has

suffered badly in terms of business. The company has, therefore, submitted a proposal

for consideration to the Administrative Ministry. The Administrative Ministry i.e.

Department of Heavy Industry, Ministry of HI & PE, has been kind enough to consider

the proposal for (a) Government Guarantees for rising funds from Banks/Financial

Institutions for reimbursement of additional cash losses (b) reservation of order by 1 for

10% of Annual requirement of BSNL for MAXXL Telephone Exchange with 50%

advance for a period of 3 yours (c) steps for JV formation of holding unit. (d) and for

VRS. The committee of Ministers has recommended the proposal for consideration of

cabinet. The Ministers has recommended the proposal for consideration of cabinet. The

cabinet has also approved this proposal recommended by the committee of Ministers in

the third week of September 2001.

The cabinet approval of the proposal will enable the company to utilize its

manufacturing capacity infrastructure, manpower and get over the working capital


12/22

shortage. Rationalization of manpower will be ensured by funds for VRS.

Reimbursement of additional cash losses will enable the company in bridging the

working capital deficit. JV formation is expected to provide technology, finance and

marketing input to the company for its long terms viability.


13/22

Future of I.L.

The company is posed for better growth in the coming years in view of the

following

* The sanctioned revival envisages liquidation of substantional portion of the

liabilities out of the proceeds as loans from sale of surplus land available with

the company at Kota. The government of Rajasthan through Urban Improvement

Trust, Kota has invited offers and principal approval has been given in the

favour of the highest bidder. The company has achieved the target for manpower

rationalization as per sanctioned scheme. However process of rights sizing of

manpower strength in commensurate with the business potential will be

continued.

* The sanctioned revival scheme is in its third year of implementation. Joint

venture formation of Palakkad unit is at an advance stage. Qualified interested

parties have completed due diligence activity. Integration of Jaipur unit with

Kota unit is also being taken up.

* The company has also undertaken various measures for further improvement in

its working such as reduction in cost, reduction in salary and wages through

right sizing of manpower, closures of unviable sites, sale of land and building

etc. at Sitapur, Jaipur integration of Jaipur unit with Kota and improvement in

working capital management. The company is also pursuing actively the plans

for introduction of new products to ensure optimum utilization of existing

facilities.

* With the implementation of revival package and restructuring business of the

company with assured from BSNL for next few years the company is hopeful of

turn around.

* With recent approval by cabinet for reservation of Telecom order from BSNL

will help the company to improve its net worth and financial position.


14/22


15/22

ACHIEVEMENTS & AWARDS

Achievements

An order of over Rs. 300 lacs has been received from Corporation Bank or

supply of UPS products.

Our regular customers have continued their faith and confidence of IL products

by placing orders worth Rs. 436 lacs and Rs. 148 lacs respectively for control values

and other flow elements.

At Palakkad works cryogenic valve testing facility established for testing valves

up to 6 inches size. Valves can be tested up to minus 196 degree centigrades. Also the

developments of new valve bodies with higher CV valve were tested.

The largest rotary electronic control valve 16" made in the country with in house

design capability. This value was supplied to Formosa Plastics, Taiwan.

All the manufacturing facilities at Kota, and Palakkad revalidated for ISO 9000.


16/22

Important Milestones Achieved

1964 - Established with Registered Office at Kota

1965 - C&I Production Commenced

1975 - Control Value Production Commenced

1982 - Special Temp. Sensor (RTD) for Nuclear Plant

1988 - Major Diversification in Telecommunication

1998 - Diversification in Defence Products

2001 - Production of firing device (Defence order)

2002 - Production of large size Telephone Exchanges

2003 - Production of special solenoid values for nuclear application (Defence

order)


17/22

ORGANISATION STRUCTURE

Board of Director

Chairman-cum-Managing Director

Company

Secretary

Procurement ManufacturingFacilities

Business AcquisitionGroup

Marketing

Unit

Customer

Services

CP & ITProjects DDC

Unit

Regional & Site

Offices

Exports

Division

Branch

Offices

Kota Unit Palakkad Unit

SubsidiaryUnitCorporate

F&A

REILCorporate

P&A

Corporate

R&D


18/22

CUSTOMERS OF INSTRUMENTATION LTD.

Customer of Instrumentation Ltd., Kota are in the following sectors

I. Steel Plants

Steel authority of India Limited

(a) Bhilai Steel Plant

(b) Bokaro Steel Plant

(c) Durgapur Steel Plant

(d) Rourkela Steel Plant

(e) Tata Iron and Steel Co., Jamshedpur

II. Paper Industries

(a) Hindustan Paper Corporation Ltd.

(b) Andhra Paper Mills (A.P.)

(c) Mysore Paper Mills

III. Power

(a) National Thermal Power Corporation (NTPC)

(b) Bharat Heavy Electrical Limited (BHEL)

(c) Steel Authority of India Limited (SAIL)

(d) Durgapur Projects Ltd.

IV. Atomic Energy

(a) Nuclear Power Corporation India, Ltd.

(b) Department of Atomic Energy (DAE)

(c) Bhabha Atomic & Research Centre

V. Fertilizers

(a) The Fertilizer Corporation of India Ltd.


19/22

(b) Shriram Fertilizer, Kota

(c) Hindustan Fertilizer Corporation Ltd.

VI. Railway

(a) Western Railway

(b) Central Railway

(c) National Thermal Power Corporation Ltd.

(d) RITES

VII. Defence Products

(a) Defence Laboratory, Jodhpur

(b) ARDE, Pune

(c) DRDL, Hyderabad

(d) Ministry of Defence, New Delhi

VIII. Textile

(a) Grasim Industries

(b) Gwalior Rayon Silk Mfg. Co. Ltd., Nagda

(c) Baroda Rayon Corporation Ltd.

IX. Pharmaceuticals

(a) Indian Drugs & Pharmaceuticals Ltd. Hyderabad, A.P.

(b) Indian Drugs & Pharmaceuticals Ltd., Rishikesh

(c) Hindustan Antibiotics Ltd.


20/22

METHODOLOGY

CONCEPTUAL FRAMEWORK :

INTRODUCTION OF INDUSTRIAL MARKETING

Industrial marketing consists of all activities involved in the marketing of

products and services to organization (i.e., commercial enterprises, profit and not for

profit institution, government agencies and resellers) that use products and services in

the production of consumer or industrial goods and services in the production of

consumer or industrial goods and services and to facilitate the operation of their

enterprises. Viewed from the perspective of Marketing, industrial marketing is, then,

human activity directed towards satisfying wants and needs of organizations through the

exchange process.

Exchange transactions in the industrial market consist of

(a) Products or Services Exchange

(b) Information Exchange

(c) Financial Exchange and

(d) Social Exchange

Product Exchange :

The characteristics of the product or service involved have a significant effect on

the industrial exchange process. The ease of exchange depends upon the ability of the

seller to identity thebuyers need and the products potential to satisfy those needs.


21/22

Information Exchange :

Information Exchange often consists of answering technical, economic and

organisational questions regarding pre and postsale maintenance and servicing. Productsmust be planned and designed to serve customers. To accomplish this, buyers and

sellers tend to work together, exchanging productspecific information over long

period of time.

Financial Exchange :

Financial exchanges may involve such considerations as the granting of credit or

the need to exchange money from one currency into another when dealing with foreign

buyers.

Social Exchange :

Social exchange is important in such areas as reducing uncertainty between

buyer and seller, avoiding short term difficulties, and maintaining the exchange

relationship over a length transaction period. Many aspects of an agreement between

buyers and sellers in the industrial market are not fully formalized or based on legal

criteria until the end of the transaction period. Rather, much of the process of exchange

is based on mutual trust.

Industrial Marketing deals with marketing of specialized industrial products and

is quite different from conventional marketing of FMCG goods.

The main characteristics of industrial marketing are

1. It deals in sale of industrial products.

2. It requires in depth technical knowledge of the product being sold.


22/22

3. In industrial marketing Mass advertisement/vigorous advertising through

electronic and Print Media is not done. Instead, Personal one to one contact with

customer are made.

4. No or very small distribution channels are in this marketing.5. In most of the cases the seller and buyer know each other.

6. The sale is done through the proper marketing process of tender enquiry,

quotation, techno-commercial discussions etc.

Difference in Industrial Marketing V/s Consumer Marketing

Area Industrial Marketing Consumer Marketing

Market

Structure

Geographically concentrated

relatively few buyers

oligopolistic competition

Geographically dispersed Mass

markets monopolistic

competition

definition of research methodology

Documents