SUMMER TRAINING REPORT

ON
AT

YATHARTHA YANTRA UDYOG

Undertaken at

submitted in partial fulfilment of the requirements of the

Degree of Master of Business Administration

M.D. University, Rohtak

SUBMITTED TO: SUBMITTED BY:

RAMAN BUDHIRAJA
IMSAR MBA 5.9 (A)
Roll No. 5978

INSTITUTE OF MANAGEMENT STUDIES & RESEARCH

 (M.D. UNIVERSITY, ROHTAK)

ACKNOWLEDGEMENT

It is proud privilege to put on record my gratitude to all those who have been the source of guidance,

cooperation and help during my study at Yathartha Yantra Udyog Limited, Rohtak.

I am indeed thankful to ............................ (MBA Deptt.) and all faculty members of IMSAR ( MBA
Deptt.) for their pain staking supervision and down right suggestions which bought a lot of confidence in me
to complete this summer training report.

First of all, I would like to thank Mr. R.S. Mishra Executive Marketing Manager of YATHARTHA

YANTRA UDYOG who guided me through out the thesis, right from the planning to the completion of actual

report.

No Acknowledgement is complete without the mention of Mr. Piyush Jain, from HR Deptt. of

YATHARTHA YANTRA UDYOG who introduced me to number of practical aspects about the organization,

marketing field etc.

RAMAN BUDHIRAJA
 DECELARATION

I Raman Budiraja, Roll No. 5978 in class MBA of the IMSAR hereby declare that the Summer Training

Report entitled “ STRATEGY FOR PRODUCT DEVELOPMENT” is an original work and the same has

not been submitted to any other institute for the award of any other degree.

Presentation Incharge (Signature of the Candidate)

(Faculty)

Counter Signed
CONTENTS

1. Company Profile

2. Introduction - about the project

3. Objectives of Study

4. Significance/scope of study

5. Research Methodology

6. Data Analysis & Interpretation

7. Limitations of the study

8. Findings of the study

9. Recommendations and Suggestions

10. Conclusion

11. Bibliography

12. Annexure
 PREFACE

Summer training (with any industry) is the essential part to one of the curriculum of any Management

Program. In the classroom coaching we general get theoretical knowledge of Management, but, this

knowledge does not prove to be adequate. As in future, management students have to work with the

organization. By merely knowing what management is, they cannot be capable of applying it.

Summer training is provided to the students to provide the opportunity, to get familiar with the natural

industrial atmosphere through participation and observation.

As being a management student I also had to undergo 8 weeks of summer training. For this purpose I

joined YATHARTHA YANTRA UDYOG LIMITED, ROHTAK.

I have put in my best efforts to explain each & every function step by step & make it clear in an easy &

understandable language.
In the industrial fasteners and turned precision components industry, Yathartha Yantra Udyog is well recognized (well known- Y
Y Udyog, Rohtak), as we have a verity of products to cater diverse customer needs. In the year of 1989, it was established by
Mr. Anurag Jain, with an objective to provide the best quality fasteners at competitive cost for automobile Industry. With sheer
hard work and sincerity, The Company is able to develop and supply a variety of fasteners and turned precision components for
automobile, electronics and their allied industries. The company manufactures the widest range of precision cold forged low
and high tensile industrial fasteners and components of carbon, alloy and stainless steel, well suited for all applications in every
type of industrial applications. We are well equipped with required infrastructure- state of the art manufacturing & testing
facilities backed by professional and trained manpower and nationwide supply chain network.

Mission: Our mission is to manufacture and supply, best quality precision fasteners for diverse customer needs with completive
costing, achieved through using latest technologies, total quality control, continual growth and customer satisfaction.

Vision: Our vision is to become a leading global manufacturer & supplier in fastening solutions with international Quality
standards to keep our client ahead of competition.

Core Values: Customer Centric, Accountability, Integrity, Total quality and Ethical business practices.
Established in 1989, we are well equipped with required infrastructure- state of the art manufacturing & testing facilities backed
by professional and trained manpower and nationwide supply chain network. With a range of versatile automated cold forming
multi-station/ headers, & bolt makers, ideal for forming complicated profiled, backed by the secondary operations machines and
well equipped laboratory, we are specialized into the manufacturing of the special purpose fasteners for a wide range of
applications. The company has an experienced team of technical personnel along with CAD operators. They are continuously
engaged in advanced product planning, tool designing and their continual improvement. Technological innovations are
extensively researched in the process of creating new designs and developing new products. We have in house tooling facility
as well- The tool room has the proven capability of developing tooling solutions for almost all applications.

• Manufacturing Facility:
• Testing Facility:

The company manufactures the widest range of precision cold forged low and high tensile industrial
fasteners and turned precision components as per the need of the individual customers with reference to
the Indian Standards-IS, German Standards-DIN, Japanese Standards-JIS, American Standards-ASTM,&
British Standards-BS.

Our product range comprises of both type of fasteners- standard and special purpose (customised)
fasteners, well suited for all applications in every type of industrial applications- like various automobile
usages, electronic, engineering and construction industries along with their respective ancillaries. We
manufacture and supply cold forged fasteners ranging from M3 to M20 with length up to 240mm.
Main Product category (with their images- for product main page)-
1. Nuts
2. Bolts
3. Screws
4. Studs and Pins
5. Forged Parts
6. Automotive lighting Parts
7. Special Automobile Machined Parts
Nuts

Bolts
Screws

Studs and Pins

Forged Parts
Automotive lighting Parts

Automobile Machined Parts

We are firm believer in our name “Yathartha” meaning Genuine Precision. To achieve and enhance the
customer satisfaction, we endeavour to continually improve our process and products. We are ISO /TS
16949:2009 certified company, and all our products are manufactured with best and ; latest available
technologies; confirming to DIN, JIS, IS, BS, ANSI, IFI and ISO standards.

Quality Policy:
“At Yathartha We are committed to supply products as per customers’ requirements in order to achieve their entire satisfaction
through continual improvement in our Quality Management system.”

Our Customers BRAND

Lumax Industries Ltd
&
Ucal Fuel Systems Ltd
Unitech Machines Ltd
Rinder India &
Hema Engineering Industries Ltd

Lumax Industries ltd

Neolite ZKW
&
Hema Engneering Industries Ltd

Life Long India Ltd

Krishna NFK seating Automotive Pvt Ltd

Hema Engineering Industries Ltd

 Spack Automotive Pvt Ltd

Lucas TVS Ltd

Wuerth Industrial Services

ZF Lemforder

Ananad Motors

CONTACT US
Registered Office and Works:
Yathartha Yantra Udyog
Plot No-2, IDC Industrial Area
Hisar Road, Rohtak- 124001
Haryana, INDIA
Mobile : +91 8527708451
E-mail : info@yathartha.com
E-mail : Sales@yathartha.com
 VISION OF YATHARTHA YANTRA UDYOG

MOTTO : Total customer satisfaction & market leadership.

TARGET : Annual growth of 30% with Exports contributing

PLAN : up to 50% of the sales.

FUNCTION : To continuously upgrade process technology &

develop new products.

PEOPLE : System oriented approach. The driving force behind it.

 OBJECTIVES OF YATHARTHA YANTRA UDYOG

The main objective of YATHARTHA YANTRA UDYOG is to provide customer satisfaction or we can
say that making things according to customer demands.

THE OTHER MAIN OBJECTIVES OF THE COMPANY ARE:

 To Position himself in the Market

 To Increase productivity
 To Innovate new things
 To double the export and bring foreign currency
 To get maximum profits
 To Increase the performance of employees
 To Develop technical and administrative skills.
 Optimum utilization of human on Resources.

QUALITY CONTROL DEPARTMENT

Now it is well known fact that that there is a very high variation between quality control and
company's market credibility. The meaning of the concept quality is ever broadening and consequently
getting redefined. Thus bringing with in its scope questions pertaining to productivity, cost, efficiency,
customer's service and much talked about product quality. All these questions taken together constitute the
operational area for the quality control department of the enterprise. That is what the quality control
department at YATHARTHA YANTRA UDYOG keeps in mind and tries to maintain high quality, not just
by physical inspection as a ritual but by embedding it in every process of production itself. They are doing
well to identity and measure process variables, the prevalent practice in the company is to take sample of
material at each stop right from the raw material and testing up to both (a) Govt. Standard (b) Company's
own internal standard. The whole process of testing and controlling has been illustrated below.
PROCESS OF QUALITY CONTROL

Testing raw material

Issue of material from store

Care of temperature profile

Final inspection (1. dimensional test)

(2. Tightness ring gauge test)

Inspect packing process

Checkout the finished product

As a part of the process of quality control the department is also

responsible for tensile strength etc.
 PRODUCTION DEPARTMENT
For efficient production the department has been sub divided into various units such as production division, P.P.C. division,
quality control division and engineering division. All the divisions are the part of production department and responsible
for regulating all the workers of production and responsible to report the works manager who us directly reporting to the
general manager. The function of the production department is to effectively plan and regulate the operation of that part of
enterprise which is responsible for actual transformation of raw materials into finished products. The production activities
in the YATHARTHA YANTRA UDYOG are looked after by works manager, who is responsible to report the general
manager. In YATHARTHA YANTRA UDYOG, general manager himself also visits to the production department to
observe the working of the plant.

YATHARTHA YANTRA UDYOG offers a complete range of socket screws, hex head
bolts/screws, hex nuts, special automotive fasteners confirming to international standard.

The basic raw material used in the production of these screws and meets are CHQ carbon boron
Alloy steel wires in rods and coils. The source of raw material is both Indian market YATHARTHA
YANTRA UDYOG purchases from
1. Mukund Limited, Bombay
2. Bihar alloys limited

YATHARTHA YANTRA UDYOG also imports its raw material from foreign countries. Main countries
are
 PRODUCTION PROCESS

The plant of Yathartha Yantra Udyog of modern imported automatic machines e.g. Nut Maker, Bolt
Maker, and Thread Rollers etc. in an automatic machine the production is of continuous type. The wire is
fed from one end to the machine where it is subjected to three or four simultaneously operation, as the
case may be and from other end we get the finished product e.g. in screw making, parting off, thread
rolling operations simultaneously takes in the machine itself.

From the production, the company requires steel wire rods in the form of coils confirming to AISI
1541,4140,4137 & 4037 for manufacturing bolts and confirming to AISI 1008, 1110 and 1035 for nuts.

After the screws-bolts/nuts are released from the machine it is subjected to head treatment/planting
operations as per requirements of the party. In head treatment process, the component is hardened up to a
certain grade as prescribed by the customer. Here the component is heated to a specific temperature and
then slowly cooled for desired hardness. The hardened component is then subjected to planting process
where zinc plating is done by electrolysis process. After the desired plating the component becomes ready
for dispatch.
 PRODUCTION PROCESS
CHART

Wire from the bent or coils

Cutting of wire

Forging

Heat treatment

Rolling

Grinding

Plating Phosphate
 Finishing

Oiling

Packing

Storing

MARKETING DEPARTMENT

DEPARTMENT PROCEEDING

Close feasibility

Yes whether the product can be developed by the company or not

Quotation
Rates, lend time for delivery modes S.I,, CST whether applied

Close negotiations

Yes
Purchase order

For 1 year or so

Delivery schedule
As per the requirement in forthcoming period

Development of product

Delivery as per schedule

Types of bills..

Feedback whether accept

To follow up for the payments

Types of payments

LIST OF CERTIFICATES

01) A2LA
02) NABL
03) ISO 9002
04) QS 9000
05) ISO/TS 16949
06) ISO 14001

MAJOR COMPETITOR OF THE COMPANY

 Sunderam Fastners of TVS Group
 UN-BRAKO And Guest Keen Williams
 Panda Togun Limited
 Sterling Tools
 Precision Fastners
 YATHARTHA YANTRA UDYOG MARKETING – A
BRIEF OUTLINE
Introduction:
“Marketing is the human activity directed at satisfying needs and wants through the exchange
process.”
Marketing is the process through which procedure and customers of various goods are brought together in an exchange
relation and the transfer of ownership takes place. Marketing process starts even before the goods go in production. It does not
end with the sale but continuous with satisfaction of consumer is obtained.

Sales Procedure:
To carry out selling functions, it is important to have a qualified and experienced sales force with a leader who can
plan, organize, direct and control the selling job objectively. The salesman is an extremely important link in the chain of
distribution. It is sometimes said that the salesmanship is the other name of persuasion.

The organization sells its product to low types of target market. These are:
1- Selling to original equipment manufacturers i.e. Industrial Consumers.
2- Selling to open market or market selling.
3- The company has established its various sales representatives in various parts in India; mainly in
industrial development cities of India like Chennai, Bangalore, Coimbatore, and Kanpur etc. Their
main test is to find out new market.

The overall functions of sales representative are

 To bring offers
 Making contracts
 Report and figure work
 Market feedback

Marketing Mix Strategy:

Marketing Mix is one of the major concepts in modern marketing. It can be defined, as “marketing
mix is the particular blend of contractible marketing variables that the firm used to achieve its objectives
in the target market.”
Now the question arises what variables make up a company marketing mix. There are actually a great
number of marketing variables. Fortunately they can be classified into a few major groups one of the
popular classifications has been proposed by Mc McCarthy and is called 4P’s
- Product
- Price
- Place
- Promotion

The marketing division has been divided into two parts:-

- Export Marketing
- Domestic Marketing

The domestic marketing then divides the customer into 2 parts:-

 OEM (Original Equipment Manufacturers)
 Dealers
OEM’s are the ones who are designers of the product themselves. They are the ones who supply the
design and we have to make the fasteners according to the design given. Similarly the OEM is divided
into further 2 sub categories:
 New Customer
 Existing Customer
Working With New OEM:
Company gets the purchase order from the new customers through our sales personnel and the
customer provides the drawing. Then the drawing is taken to Research and Development department, as
the customer is new so we would like to have the feasibility report about the product. Whether we can
make it or not and if we can make what are the requirements?
The R & D then prepares the feasibility report about the product. After the feasibility report is sent
to the Finance Department for costing. The finance department then prepares the unit price of the product
and then this is forwarded to the marketing department, who gives the quotation to the customers.
If the customer approves the quotation then a sample of some pieces is made and given to the customer for
approval. If the customer approves the sample then the pilot lot is prepared and given to the customer.
The size of pilot lot depends upon the cost of the product. It can be 50, 100 or 200 also.
 If the lot is again approved then we get the purchase order from the customer and a CC is cent to
the production, planning and control department. After the completion of the manufacturing of the
product, the material is given to the finished good stores who dispatch it to the customers.

Working With Existing OEM:

If the customer exists then purchase order is directly given to the PPC department. The Engineering department
releases the drawing and the product is made. The format of dispatching is same in every case.

Working with Dealers

Sometimes our customer is not the manufacturer but the dealers and then instead of quoting the
price we have the price list for our products and we give them the price. After that it is it working
procedures as the rest.
Yathartha Yantra Udyog

2.1 YATHARTHA YANTRA UDYOG Marketing – A Brief Outline

2.1.1 Introduction

“Marketing is the human activity directed at satisfying needs and wants through the exchange process.”

Marketing is the process through which procedure and customers of various goods are brought together in

an exchange relations and the transfer of ownership takes place. Marketing process starts even before the

goods go in production. It does not end with the sale but continuous with the satisfaction of consumer is

obtained.

2.1.2 Sales Procedure

To carry out selling functions, it is important to have a qualified and experienced sales force with a leader

who can plan, organize, direct and control the selling job objectively. The salesman is an extremely

important link in the chain of distribution. It is sometimes said that the salesmanship is the other name of

persuasion.

The organization sells its product to low types of target market. These are:-

1. Selling to original equipment manufacturers i.e. Industrial Consumers.

2. Selling to open market or market selling.

3. The company has established its various sales representatives in various parts in India; mainly in

industrial development cities of india like Chennai, Bangalore, Coimbatore, and Kanpur etc. their main

test is to find out new market or customers for their product.

The overall functions of sales representative are:-

o To bring offers.
o Marking contracts
o Report and figure work
o Market feedback

2.1.3 Marketing Mix Strategy

Marketing mix is one of the major concepts in modern marketing. It can be defined, as “marketing mix

is the particular blend of contractible marketing variables that the firm used to achieve its objectives in the

target market.”

Now the question arises what variables make up a company marketing mix. There are actually a great

number of marketing variables. Fortunately they can be classified into a few major groups one of the

popular classifications has been proposed by Mc McCarthy and is called 4P’s

o Product
o Price
o Place
o Promotion
2.1.4 The marketing division has been divided into two parts

o Export Marketing
o Domestic marketing
 2.1.5 The domestic marketing then divides the customer into 2 parts

o OEM (Original Equipment Manufacturers)

o Dealers

OEM’s are the ones who are designers of the product themselves. They are the ones who supply the design

and we have to make the fasteners according to the design given. Similarly the OEM is divided into further 2

sub categories:-

o New Customer

o Existing Customer

2.1.6 Working With New OEM

Company gets the purchase order from the new customers through our sales personnel and the customer

provides the drawing. Then the drawing is taken to Research and Development department, as the customer is

new so we would like to have the feasibility report about the product. Whether we can make it or not and if

we can make what are the requirements?

The R&D then prepares the feasibility report about the product. After the feasibility report is sent to the

Finance Department for costing. The finance department then prepares the unit price of the products and then

this is forwarded to the marketing department, who gives the quotation to the customers.

If the customer approves the quotation then a sample of some pieces is made and given to he customer for

approval. It he customer approves the sample then the pilot lot is prepared and given to the customer. The size

of the pilot lot depends upon the cost of the product. It can be 50,100 or 200 also.

If the lot is again approved then we get the purchase order from the customer and a CC is sent to the

production, planning and control department. After the completion of the manufacturing of the product, the

material is given to the finished good stores who dispatch it to the customers.
 2.1.7 Working With Existing OEM

If the customer exists then purchase order is directly given to the PPC department. The Engineering

department releases the drawing and the product is made. The format of dispatching is same in every case.

2.1.8 Working With Dealers

Sometimes our customer is not the manufacturer but the dealers and then instead of quoting the price we

have the price list for our products and we give them the price. After that I is it working procedures as the rest.
 3.1 OBJECTIVE OF STUDY

The main objective of the study is to know about:

2. Yathartha Yantra Udyog process in the company.

3. To know about different policies and strategies of YATHARTHA YANTRA UDYOGto

development of new product.

4. To know about how much is the sales target of the company through Yathartha Yantra Udyog.

5. How many products are commercialised through Yathartha Yantra Udyog & what are the

expectations of the customer when a new product is developed.

4.1 SIGNIFICANCE OF RESEARCH

“All progress is born of inquiry. Doubt is often better than over confidence for it leads to inquiry, and

inquiry leads to invention.” Increased scientific and inductive thinking and it promotes the development of

logical habits of thinking and organization. Research has its special significance in solving various

operational and planning problems of business and industry. Research, along with motivational research,

are business decisions, Market research is the investigation of the structure and development of the market

for the purpose of formulating efficient policies for purchasing, production and sales.
 Introduction

“Yathartha Yantra Udyog means new profits.” Product on development is a continuous and important

function of marketing management. The life of a firm is closely related to the development of new product

through mechanical and technological innovations.

Yathartha Yantra Udyog includes no. of decisions namely:-

o What to manufacture or buy?

o How to have its packaging?

o How to fix its price?

o How to sell it?

In case of a manufacturing organisation, the production department will develop and produce products on

the advice of the marketing department because it is marketing department, which knows better the

requirement of the customers. The work of product planning and development consists of the creation of new

ideas, their evaluation in terms of sales capacity and profitability, production facility, availability of resources

required for production that product, designing and marketing of product.

The main task of the product planners is to identify specific customer needs and expectations and align

company capabilities with the changing market demands.

4.3 NEW PODUCT DEVELOPMENT PROCESS

Enquiry

NO
Feasibility Report Regret

Yes

Cost Sheet

Quotation

Purchase Order

Dev. Req. to
R&D Dept.

Sample

Pilot Lot Regular Supply

 4.4 Yathartha Yantra Udyog in YATHARTHA YANTRA UDYOG

Since YATHARTHA YANTRA UDYOG is a manufacturing concern, therefore, production department

develop of new products with the help of marketing department because marketing department better knows

the requirements of customers.

The steps involved in the process of Product on development in YATHARTHA YANTRA UDYOG can be

clearly understood with the help of following explanation:-

1. Enquiry

The first step in the process of product on development is to receive enquiries from the customers. The

enquiry is, normally, in descriptive form, which contains information regarding product design, product price,

product quality and delivery time.

2. Feasibilty Report

The second step in the process of Yathartha Yantra Udyog is the preparation of feasibility report. Under

this step, enquiries received by the marketing department are communicated to the research and development

department for preparing the feasibility report of the product. Research and development department analyze

the feasibility of product whether the production of the product is possible or not and if yes, then what are the

requirements?

If production of product is not possible, then a regret letter is sent to the customer.

3. Cost Sheet
 Under this step, the feasibility report is sent to the finance department for determining the cost of new

product. Finance department prepares the cost sheet to determine the unit price of the product. Cost Sheet

includes the raw material cost, labour cost, manufacturing expenses and other indirect expenses. After wards,

the finance department sends the cost sheet and feasibility report to the marketing department for further

processing.

3. Quotations

After the preparation of feasibility report and cost sheet, quotations are sent to the customer. Quotations

consist of all the information about product design, product price, delivery time and terms and conditions

regarding payment. The average time between receipt of enquiry and sending of quotation is 21 days.

4. Purchase Order

If the customer is satisfied with the terms and conditions contained in the quotation, then he gives his

approval and makes the purchase order to the marketing department. Purchase order consists of no. of units of

product demanded by the customer.

5. Development request to R&D

Marketing department sends the purchase order to R&D. R&D reviews the tool drawing, product

design, availability of raw material and labour.

6. Sample

Research and Development department manufacture the sample of the product sends the sample of the

product to the customer. If the customer is satisfied with the sample of the product, then he sends the sample

approval letter to the research and development department.

7. Pilot Lot
 If the customer approves the sample, then pilot lot is prepared and given to the customer. Pilot lot is the

small quantity of product sent to the customer to check the accuracy of the product.

8. Regular Supply

If the pilot lot is approved, then the company gives the regular supply of large quantity of product.

4.5 MANUFACTURING PROCESS

Wire from wire bend or Coil

Cutting of wire

Forging

Heat Treatment

Rolling

Grinding

Plating

Finishing

Oiling
Storing
Packing
 4.5 The steps involved in manufacturing process are discussed as follows:-

1. Wire from Bend or Coil

The raw material for production comes in form of coil/ wire bend. These are mostly imported from Korea.

2. Cutting of Wire

These raw materials are cut according to the size of the product .

3. Forging

This is an important step in making the product. These are two types of forging operations that are being

done.

(i) Hot Forging

(ii) Cold Forging

Our company is mainly concerned for the cold forging operation. We can manufacture the product by

machining but it is not advisable. The reason is that by machining, we have to remove a lot of material but in

forging the amount of material is significantly reduced. Another important thing is the strength retention of the

material. The material flow line are cu in continuous. This is helpful in retaining the material strength. The

cold forging operation is used for mass production and it is uneconomical to go for small batch product

because of number of tools involved for manufacturing.

4. Heat Treatment

After the production stage is over, the product is ready for heat treatment. The heat treatment is done to

increase the hardness of material.

 5. Rolling

After the heat treatment, the next step is rolling. Rolling means threading. Rolling of the bolt depends

upon the requirement of the customers. It is very important step, in manufacturing process. Rolling is the only

thing, which differentiates the screw and bolt.

6. Grinding

After rolling the next step is finding. It is mainly done for the finishing and shininess of the product. The

grinding is done also with the help of automated machines.

7. Plating

Finishing and planting is done to remove the impurities in the product and to increase its corrosive

resistance and to give it a better look. This operation is done after the material had been heat-treated. The

plating department receives the work order form the PPC department as to what type of finishing is required

for the product. The customer, along with the design, gives the type of finishing required for the product.

8. Packing

This is the last stage of production. This is the operation of packing. We packed the products. Then is

ready for dispatch.

 5.1 RESEARCH METHODOLOGY

Research is the art of the scientific investigation,. It refers to a search for knowledge. The advance

learner’s Dictionary of Current English lays down on the meaning of research as,

“ A careful investigation or inquiry specially through search foe new facts in any branch of knowledge.”

Research Methodology is a way to systematically solve the research problem. The research begin its

formation when the problem or objective of the research is identified for which a research project is

conducted. The main objective for which this project research is carried out is to understand and analyze the

product on development process of the company.

1. Research Design

There are various methods of research design like

o Exploratory Research Design,

o Descriptive Research Design,

o Diagnostic Research Design

o Hypothesis-Testing research design.

In the present study, I will use Descriptive Research Design .

Descriptive studies are those studies which are concerned with describing the characteristics of a

particular group.
 2. Sampling Design

A Sample design is a definite plan for obtaining a sample from a given population. It refer to the

researcher would adopt in selecting items for the sample.. The sample size of this research will be 71 enquiries

that will be selected on random basis.

3. Source of Data

Basically two kinds of data are available to the researcher namely:

o Primary Data

o Secondary Data

Primary Data Primary data is that data which is collected by the researcher with his own sources

and efforts which is never collected before by any other person, like data is collected by questioner interview

etc.

Secondary Data Secondary data is that data which is collected by the researcher from the available

resources like from web-site, Magines, Books of Company etc.

4. Method Of Data Collection

There are various methods of data collection like

o Observation method

o Interview method

o Questionnaire method

o Schedule method

In the present study, I will use observation and questionnaire method that is primary in nature.
5.2 SUMMARY OF METHODOLOGY USED

Following is the summary of the methodology used for research:-

Research Design -Descriptive

Data Source -Secondary

Data Collection Method -Observation

Sample Size -71 enquiries

Area Covered - North India

TOTAL FASTENERS MARKET
(700 CRORE)

lakshmi Precision
Precision Fasteners Screw s Ltd
Ltd. 11%
18%

Other ('Kundan,
Sterling Pooja, etc.)
21%

Sundram
Rasteners, Chennai
50%

( Graph 6.1 Shows Total Fasteners market in North India)

ANALYSIS –1

(1) What is the reason of delay in sending quotation?

Average days between enquiries to quotation is 21.

Delay Reason:-

Delay in preparation of feasibility report 70%

Delay in preparation of cost sheet 20%
Delay on behalf of marketing department 10%

20%

10%

70%

(Graph 6.2 shows the reasons of delay in sending Quotation)

ANALYSIS –2

(2) How many orders are received out of sending quotations ?

Quotations Sent 80
Orders Received 20

Strike Rate 20%

20%

80%

(Graph 6.3 shows how many orders are received out of sending quotation)
ANALYSIS –3

(3) How many new customers joined by development of new Product ?

Existing Customers 90%

New Customers 10%

10%

90%

(Graph 6.4 shows how many new customers joined by development of new product)
ANALYSIS –4

(4) Is there any sales target of company by product on development?

Target from Yathartha Yantra Udyog 15%

15%

85%

(Graph 6.5 shows Is there any sales target of company by product on development?)
ANALYSIS –5

(5) What are the expectations of the customers when he gives the order ?

Good Quality 40%

Reasonable Price 30%
Shortest Delivery Time 30%

30%

40%

30%

(Graph 6.6 shows what are the expectations of the customers when he gives the order?)
 ANALYSIS –6

(6) How many products are commercialised through product on

development ?

During January-June

Total Products Developed 74

Products Commercialised 70%

Products Under Approval 23%
Products Not Approved 7%

7%

23%

70%
 (Graph 6.7 shows How many products are commercialised through product on development ?
ANALYSIS - 7

(7) What is the overall analysis between enquiries to quotation?

During January- June

Total enquiries received during the period 71

Regret 14%
Pending 7%
Quotations sent within average time 56%
Quotations sent beyond average time 23%

14%
23%

7%

56%

(Graph 6.8 shows what is the overall analysis between enquiries to quotation?)
 LIMITATIONS

The limitations of this study are as follows

1. One drawback was time constraints, i.e the study had been completed within a restricted time

frame.

2. Lack of experience of researcher may cause some error.

3. Sample size was small, so it was difficult to find adequate results.

4. Sampling may not present the exact pictures of market. It is just representative of population.
 FINDINGS

The findings of this study are:

o YATHARTHA YANTRA UDYOG is on 3rd position in the Fastners Market.

o The Quality of YATHARTHA YANTRA UDYOG’s product is good.

o The most competitor company of the YATHARTHA YANTRA UDYOG is Sundaram Fastners Ltd.

o Sales promotion activities of YATHARTHA YANTRA UDYOG like advertisement etc. is not so

good.

o Network Distributor Channel of YATHARTHA YANTRA UDYOG is not good.

o Price Range of YATHARTHA YANTRA UDYOG’s Product can compete competitor like

Sundaram Fastners Limited.

o The Company has been able to attract new customers.

 Recommendations & Suggestions

There are some suggestions which may be helpful in the growth of YATHARTHA YANTRA UDYOG.
These are as follows:-
o Company should give good response to medium and small scale firms.
o Company should reduce the delivery time.
o Company should increase the production capacity to fulfil the requirements of the customers.
o Company should reduce the time taken between receipt of enquiry and sending of quotations.
o Company should increase the availability of raw material.
o Company should go for e-commerce due to globalisation.
o Company should stress on Zero-Defect Concept.
o The Company should search for new markets.
 CONCLUSION

On the basis of above explanation, I draw conclusion that product on development process implemented in
YATHARTHA YANTRA UDYOG is trustworthy and profitable & the sale of the company has enhanced to a
great extent. The company has been able to attract new customers. In spite of all these things, I believe that in
order to make Yathartha Yantra Udyog process more effective, the company should enhance the availability of
raw material to fulfil the requirements of customers in time. Besides, more emphasis should be placed on Zero
Defect Concept so that more number of customers can be attracted.
BIBLIOGRAPHY

o Kotler, Philip, Marketing Management, New Delhi, Prentice Hall of India Pvt. Ltd.

o Kothari, C.R., Research Methodology, New Delhi, Wishwa Parkashan Pvt. Ltd.

o Ramaswamy, V.S., Marketing Management Planning Implementation and Control.

o Website : w.w.w Yathartha Yantra Udyogindia.com

 QUESTIONNAIRE

Q 1. What is the reason of delay in sending quotation?

(a) F.R. Delay [ ] (b) Cost sheet delay [ ]

( c) Delay on behalf of marketing deptt. [ ]
.
Q 2. How many orders are received out of sending quotations?

(a) quotations sent [ ]

(b) orders received [ ]

Q 3. How many new customer joined by development of new product?

(a) Existing customer [ ]

(b) New Customer [ ]

Q 4. What are the expectation of the customer when he gives the order ?

(a) Good quality [ ] (b) Reasonable price [ ]

( c) Delivery time [ ]

Q 5. How many products are commercialised through new product development?

(a) Products commercialised [ ]

(b) Products under development [ ]
( c) Products not required by customer [ ]

Q 6. Is there any sales target fixed by the company through Yathartha Yantra Udyog ?

( a) yes [ ] (b) No [ ]

Q 7 What is the overall analysis between enquiries to quotation?

(a) Regret [ ] (b) Pending [ ]

(c) Quotations sent within average time [ ] (d) Quotations sent beyond average time [ ]