Study of the potential of electrical power tools in wood working segment: design of a strategic marketing plan; Mico Ltd.

Abstract

This project was carried out for MICO, Bangalore as an additional project for PGDM (IIM Bangalore) . The primary objective of the project was to find out the market potential of electrical power tools in the wood working segment in India and development of a marketing strategy for penetrating this market. A survey of 55 respondents which included interior decorators, carpenters, and managers and salesmen associated with this industry was carried out in Bangalore. Some of the important findings are a) Total market potential of EPTs in wood working segment is about 24750 tools. bl Awareness level of Bosch is very low. e) The respondents considered quality as the most important attribute followed by the price in a product. d) Proprietors are normally the decision makers in the purchase of tools. e) Campaigns/Demonstrations is the most widely used basis of purchase of the product. f) TV emerged as the most important medium of communication. g) Deccan Express & Indian Express are the most widely read newspapers. A factor analysis was carried out and correlations were found between price and quality, durability and after sales service, durability and weight, requirement for circular saw with jigsaw and all-purpose saw requirement, quality with easiness of use and product life.