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Project report on market potential

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It helps to identify their market potential for security systems in corporate business

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Project report on market potential

  2. 2. 2013-2014 INSTITUTE RECOMMENDATION This is to certify that, Mr.Mali Somning Kallappa is a bonafide student studying in M.B.A. II Semester – III, has completed project work entitled “Market potential of security systems in solapur city with special reference to Micro Technologies PVT.LTD. Solapur.” under the guidance of Prof ... Advani M.L. satisfactorily & submitted to for the partial fulfillment of the requirement of the award of the degree of Master of Business Administration Solapur University, Solapur. Place: Date: Principal
  3. 3. GUIDE CERTIFICATE This is to certify that Mr.Mali Somning Kallappa has successfully completed a project report titled “Market Potential Of Security Systems In solapur City with Special Referance to Micro Technologies PVT. LTD. ” under my guidance. The project work is of original nature and not copied from my other source and further no part of this work has been submitted to any university as a partial fulfillment conditions for passing any examination. Place: Date: Prof. Kothawale J.R..
  4. 4. DECLARATION To, The Principal Brahmdevdada Mane Institute of Technology, Solapur. Respected Sir, I, the undersigned hereby declare that project report titled “MARKET POTENTIAL OF SECURITY SYSTEMS IN SOLAPUR CITY WITH REFERENCES TO MICRO TECHNOLOGIES PVT.LTD .” under the guidance of, prof. KOTHAWALE J.R. and submitted to MBA Dept. of BMIT, Solapur for the partial fulfillment of the award of the degree of Master of Business Administration of Solapur University , Solapur. The empirical findings in this project are based on data collected by myself. While preparing this report, I have not copied from any other report. I understand that any such copying is liable to be punished in a way the university authorities may deem fit. Date: Place: Mr. Mali Somning Kallappa
  5. 5. ACKNOWLEDGEMENT Every project has a number of persons involved in it, some directly others indirectly. Everyone has contributed to its success; the critics who spur you into action with renewed enthusiasm and the supporters who steadfastly encourage you all through till the end. I would like to take this opportunity to express my gratitude for all those who provided valuable criticism, appreciation and guidance to make this project a success. I thank Mr. Santosh sapkal for giving me an opportunity to do the project, whose inspiration, whose sharing of anecdotes to exemplify the advice he would give helped me see through this project swimmingly. I thank Prof Mr.kothawale J.R my Project Guide for his guidance, motivation and attention. He was very much approachable with all my doubts! It was indeed a privilege to have done my project at MICRO TECHNOLOGIES {INDIA} LTD The learning experiences at at Shree provision are something that I would cherish for the rest of my life. Having worked in this corporation gives me the confidence and an outlook out of the box much needed before I take steps in the professional world. SOMNING MALI
  6. 6. TABLE OF CONTENTS Chapter No. Topic Page No. 1 Introduction to the study 1-5 1.1 Objectives of study 1.2 Methodology Of The Study 1.3 Scope & Limitations 1.4 Importance of the study 2 Company Profile 6-8 2.1Mission And Vision 2.2 History 2.3 company overview 2.4 Awards And Achievement 2.5 Product Profile 3 Theoretical Back Ground 9-20 Introduction To Market Market Potential Total Market Potential 4 Data Analysis and Interpretation 21-37 5 Observation And Findings 38-39 6 Suggestions 40-41 Conclusion 7 Bibliography 42-46 8 ANNEXURE QUESTIONNAIRE 47-48
  7. 7. CHAPTER 1 INTRODUCTION TO THE STUDY The economy of this country got liberated in 1992, with this liberalized economy came many multinationals to market their products to Indian consumers. This liberalization touched the industrial product users as well. These companies not only competed but also left the industries far behind. They did this with the help of advanced technology and aggressive marketing. All this led to tremendous competition and it was very difficult for the Indian industries to sustain it. No sector was spared from this phenomenon. The Security industry is one such industry. From a long time compression systems have dominated this industry. Security systems are used generally to avoid uncertainty risk and crime rate. Within liberalization the trends started to change very quickly, the international players crowded the industrial market with the advanced and efficient security systems. Like the change in the Indian industry there was also a change in Indian buyer behavior. All the buyers needed to search for the effective and efficient technological systems. These companies mostly provide them. It has also been analyzed that every shops spends a huge amounts security systems once. But There are another players in the market like Samsung private Ltd. which provides the Standardized products and specification which are very cost effective solutions. This project emphasizes on those Shop in the market which are congruent with the standardized product specification. Initial surveys have shown that every shop spends a sum of amount for security In this project it is essential to find the probable segments where it can be used and most prospective shop segment which can be used Security system HSS etc. The data is collected, analyzed and presented in the tabular form and then graphical representation is done for ease of understanding. On basis of interpretation of data conclusion is made and suggestions are put forward at the end
  8. 8. 1.1 OBJECTIVESOF THE STUDY  The main objective of the study was to conduct the survey in commercial shops in solapur city and to know the market potential for the Micro Technology (India) Ltd products.  Finding most potential shops which may use security system.  Major Factors considered in the selection of the security systems.  To know the awareness of various security products in the market.  To find satisfaction level of current security systems used in shops. 1.2 METHODOLOGYOF THE STUDY Sample Profile For the survey, 100-sample size was to be covered as a small number of employees made up the whole work force. Tools for data collection The research instrument used for the study was a structured questionnaire with a mix of a majority of close-ended questions and a few open-ended questions. “Close ended question” asked users to respond on a scale, “excellent”, “best”, “good”, “average”, “poor”. The business entities did not have feeling of insecurity towards the questionnaires as they were not asked to write down their names and that gave them freedom to come out with true feelings and suggestions. Data analysis A simple grid was prepared to collate the data provided in the completed questionnaires. A simple coding system was designed as the questions were ranked according to a numerical scale and the same scale was used as a code. To evaluate open-ended questions, responses were viewed and categorized into sufficiently small set of broad categories, which are then coded and various graphs are used to represent the results.
  9. 9. 1.3 SCOPE & LIMITATIONS- Scope of the project  Security Systems are used generally very less used in various shops and place in solapur.  The project was related to those which may use the security systems products for their shops.  Finding the probable shops market in which it can be used i.e. check the shop working status and area. Limitations: -  Due to time constraints the study is limited towards only in solapur city and Survey is conducted only in shops in various areas of solapur with limited number of shops hence it is an market survey.  This survey carried out only for those shops in which security system can be used.  This survey is limited only for the consultants and Suppliers are not covered in this survey.  Study was based on the opinion of the customers.  Project was limited for 30 days. 1.4 Importance of the project  It will help to avoid risk for the commercial shops.  Knowing Work status in the shops.  Knowing crime rate in that area.  It will helps to the fraud person must be arrested.
  10. 10. CHAPTER 2 COMPANY PROFILE 2.1 MISSION AND VISION OF THE MICRO TECHNOLOGIES LTD. MISSION Micro Technologies mission is multi-faceted The avowed mission is to serve the citizens of India and the world through qualitative development and rapid deployment of technologically-advanced security products.   To focus on client's objectives and provide customized cutting edge solutions.  Reach out to an expanded audience of thought leaders, opinion gurus, decision makers, security professionals and people using a variety of media and technologies.  Prepare citizens to become security-vigilant members of society and promote economic development and improvement in the quality of life of people in every region it serves.  Advance the frontiers of knowledge to the betterment of all humankind, and meet the needs of our wider community through partnerships with other institutions.  Contribute to the welfare and advancement of human societies throughout the world. VISION Micro Technologies envisions emerging as a pre-eminent Global Security Solutions Provider by 2015 by advancing quality and innovation in all areas while leading in basic research and development and improving safety and security of society worldwide. 2.2 HISTORY OF THE ORGANAIZATION YEAR EVENTS 2000 - Micro Technologies Ltd a total IT solutions Company has embarked upon massive expansion plans in the international sector in countries like US, UK and Australia. - Micro Technologies India Ltd has set up a joint venture company with Canada-based Avaco International with an initial equity base of $1 million to develop high-tech software for the Canadian market. 2004 -Micro Technologies India forges strategic alliance with Girvan Group
  11. 11. 2005 -Micro Technologies bags prestigious order for Micro Vehicle Black Box -Micro Technologies ties up with Tokyo's TSB to launch security solutions in Japan -Micro Technologies tie-up with Status Solutions to launch Micro VBB in UAE -Micro Technologies India Ltd has announced that the Board of Directors of the Company at its meeting held on August 08, 2005, has approved issue of further securities in the form of Global Depository Receipt (GDR) of the size not exceeding 15,00,000 Equity Shares. Such GDR shall represent one fully paid up equity share of par value Rs 10/- per share, deposited pursuant to the sponsored GDR offering. -Micro Technologies launched security products in Indonesia through KS -Micro Technologies launches Micro IBB 2006 -Micro Technologies appoints Madison as Advertising Agency 2007 -Micro Technologies introduces E-CAR. -Micro Technologies India Ltd has appointed Prof. Paul Coleman, as an additional Director of the Company. - Micro Technologies introduces "Mobile Micro Shoppe" Shop(s) on Wheels. -Micro Technologies India Ltd has informed that the Company's registered office has been shifted with effect from December 14, 2007 vide Board Meeting held on December 14, 2007 to the address given below: s 46-C, Electronic Sadan No-1, Mahape Navi Mumbai - 400705. 2008 - Micro Technologies India Ltd launches Bike Security System 2010 - Micro Technologies (India) Ltd expands its business to Mongolia and Tanzania market and
  12. 12. jointly planned serious inroads to provide a highly advanced security products in the domestic- market of Mongolia and Tanzania worth 5 Mn USD after the successful introduction in )apan and Israel. -Micro Technologies and Hash Group launches 'Safe & Secure City Project' for Global Market". -Micro Technologies announces the Micro Premier League Awards for Sports. -"Micro Technologies Launches Micro Emergency Response System Micro ERS A system to keep you safe where ever you go" -"Micro Technologies and OGW Ties Up to Secure the Malaysian Market". -"Deloitte honors Micro Technologies (India) Ltd, with the esteemed 'Deloitte Technology Fast 500 Asia Pacific 2010 Award' for the fourth year in a row". 2011 -Micro Technologies collaborates with Monash University, Australia for joint research in the field of Biometric Security -"Micro Technologies Touches 1 million Global users for its Corporate communications security product Micro Lifeline "on cloud"" -"Micro Technologies Security solutions empanelled for Defense" -Micro Technologies expands its Micro VBB Marshal and Video Surveillance System. -"Micro Technologies Invited to represent Indian Security Industry in BRICS Connect Summit 2011 held in New York." 2012 - Micro Technologies Launched Futuristic security System for the Banking -Micro Technologies Bags 160 Cr. Project for a Major PSU -Micro Technologies launches its Unique High end Mobile Security product Micro Mobi Security
  13. 13. -Micro Technologies bags contracts to develop security solutions for two universities -Micro Technologies bags major export for its advance Vehicle Security Product 2012 -Micro Technologies has given the Bonus in the Ratio of 1:1 2.3 COMPANYOVERVIEW Micro Technologies (India) Limited is India-based company. The company is a leading global developer, manufacturer and marketer of security devices for its clients across the globe. It operates in three segments: security segment, messaging segment and other segment. The company was incorporated in the year 1992. The company's product line covers industries, such as Oil & Gas, Banking, Logistics, Telecommunication, Infrastructure to provide the security, life Style and Support Systems and Web-based software. The Security products include Fuel Monitoring system, Automated Teller Machine (ATM) Security, Lost Note Book Tracking System, Fleet Monitoring System, and Street Light Control System. Messaging segment focuses on developing products oriented towards messaging business. Its Mobile Security products include Micro Lost Mobile Tracking System, Micro Mobile Controller System, Micro Lost Notebook Tracking System, Micro Life Line and Cyber Activity Remote Monitoring System. Its other segments include Micro Student Attendance Management System, Micro Exhibitor Visitor Participant Management System and Micro Professional Placements. Micro Technologies has a history of leading-edge security solutions products. This tradition continues through a singular focus on innovation, advanced technology and making the life of its clients safe, secure and manageable in terms of security, time and money one of the most important defining characteristics of a security and life support solution based company in the early 21st century. It is one of the most valued security solutions across the globe and has been accorded with many national and international awards for its growth and R & D. Micro Technologies aims at displaying not just the technological innovation and prowess but also the product diversity in various segments of vehicle, premises, mobile, other assets and now entering Energy & Health Segments.
  14. 14. 2.4 ACHIEVEMENT AND AWARDS  Mr. Milind Mehta, CFO, MTIL received the 'CFO100 2012' Award in the 'Winning Edge in Raising Capital/Fund Management' Category. [Mar, 2012]  Chief Strategic Officer, Mr. Aditya Sekhar, Micro Technologies (India) Ltd; won the young achiever award of the year 2011-12  Micro Technologies Chief Strategic Officer awarded with Prestigious 'Star Youth Achiever Award'. [07 Feb 2011]  Micro Technologies (India) Ltd., gets honored with the esteemed 'Deloitte Technology Fast 50 (India) Award' for the fourth year in a row. [12 Nov, 2010]  Micro Technologies teams with CIAN Pty. Ltd to internationally distribute their security products. [July 2010]  Micro Technologies awarded the International Quality Summit Award. [May 2010]  Micro Technologies Awarded the "The Bizz 2010 - World Business Leader".  Accorded with the "Deloitte Technology Fast 500 Asia Pacific Award" for being one of the 500 fastest growing companies in Asia for two consecutive years- 2007 & 2008.  Accorded with NASSCOM 'Innovative Products Award' for Wi-Fi Security System, 2008-09.  Accorded with the Forbes 'Best under a Billion' award among 20 Indian and 200 Asian companies selected out of 12000 reputed companies.  Micro Technologies wins the 'Amity Corporate Excellence Award'.  Awarded with the 'Deloitte Technology Fast 50 (India) Award' for two consecutive years- 2007 & 2008.  Micro Technologies wins the Dun & Bradstreet - ECGC - Indian Exporters' Excellence Award.  Micro Technologies bags Maharashtra IT Awards, 2006.  Dr. A P J Kalam, former president of India, felicitates Dr. P Sekhar for his significant contribution in the security segment.  Micro Technologies and Bharti Airtel Limited ties up to offer Micro LMTS (Lost Mobile Tracking System) to secure the mobile handsets of Airtel subscribers.
  15. 15.  Micro Technologies ties up with MTNL to offer Mobile security solution-Micro LMTS to its Mumbai & Delhi Subscribers.  Micro Technologies has entered into a strategic agreement to market Micro Products and its licenses to Sri Lanka.  Launched new security products Micro MCS (Mobile Controller System), Micro SAMS (Student Attendance Management System) & Micro WSS (Wi-Fi Security System).  Launches an exclusive range of Products such as Micro BTS (Buddy Tracking System), Micro LNTS (Lost Notebook Tracking System) and Micro ISS (Intelligent Surveillance System). 2.5 PRODUCT PROFILE Micro Technologies (India) Limited (MTIL) (BSE 532494 & NSE MIRCOTECH) is a leading global developer and marketer of security solutions headquartered in New Bombay, Maharashtra, India. In the last 20 years since its inception, the company has firmly established a culture and tradition of innovation, service and trail-blazing performance. MTIL provides transformational security devices, services and technologies that are shaping a new age of care and concern for mankind. The company's broad expertise in security sphere, life style and support systems and web-based software helps its customers to deliver better care and security to more people around the world. With more than 350 security products across various segments, Micro Technologies has presence in over 30 countries. It is recognized by Forbes as the 'Best Under Billion' among 20 Indian and 200 Asian companies selected out of 12,000 reputed companies in 2010 for the second consecutive year and by Deloitte as the fast growing companies among 50 for the fifth time in a row . The company has won a number of prestigious awards both national and global.
  16. 16. CHAPTER 3 THEORETICAL BACKGROUND Marketing: Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. Marketing management: Marketing management is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy Individual and organizational goals. Marketing management takes place when at least one party to a potential exchange thinks about means of an achieving desired response from the parties. We see marketing management as the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering, and communicating superior customer value. Demand Forecasting: One of the company’s major reasons for undertaking a marketing research is to identify market opportunities. Once research is complete, the company must carefully evaluate opportunity before choosing its target market specifically, the company needs to measure and forecast size, growth and profit of each opportunity. Sales forecasts are used b finance to raise the needed cash for investment and operation; by the manufacturing department to establish capacity and output levels; by purchasing to acquire the right amount of supplies; and by human resource to hire and needed number of workers. Marketing is responsible for preparing the sales forecasts. If its forecast is far-off the mark, the company either will be saddled with excess capacity and inventory or will lose money because of inadequate inventories.
  17. 17. Measures ofmarketdemand: As part of their ongoing, companies prepare many estimates of market size. Demand can be measured for six different products levels, five different space levels, and five different times’ levels. Each demand measure serves a specific purpose. A company might forecast short-run demand for a particular product for the purpose of ordering raw-materials, planning production and borrowing cash. PotentialMarket: The potential market is a set of consumers who profess a sufficient level of interest in a demand market offer. Consumer interest is not enough to define a market, however potential consumers must have income for the product, and they must have access to the product offer. If the product is not distributed in certain areas, potential consumers in those areas are not available to marketers. Marketpotential: The market forecast shows expected market demand, not maximum market demand. For the later, we have to visualize the level of market demand for a very high level of industry marketing expenditure, where further increases in marketing effort would have little in stimulating further demand. Market potential is the limit approached by market demand as industry marketing expenditures approach infinity, for a given environment
  18. 18. TotalMarketPotential: Total market potential is the maximum amount of sales that might be valuable to all firms in an industry during a given period, under given level of industry marketing effort and given environmental conditions. The common way to estimate total Market potential is as follows. Q=NOP Where, Q=total market potential. N=number of buyers in the specific product/market under given assumptions. O=quantity purchased by an average buyer. P=price of an average unit Measurement Technique Sampling Method : Convenience sampling Sample size : 100 Technique : Personal interview. Sampling Unit : Shreevision ,Firm Area : Solapur Duration : 45 day’s
  19. 19. CHAPTER 4 DATA ANALYSIS & INTERPRETATION 1) Table showing awareness about security system product in shop. SR.No. Response/ Opinion Respondents Percentage 1 Yes 70 70% 2 No 30 30% Total 100 100% Interpretation: The above chart shows that, maximum no. of respondent’s aware about various security systems available in market. 70% 30% Awarnessabout security products yes No
  20. 20. 2) Table showing awareness about crime rate in Solapur city SR.No. Response/ Opinion Respondents Percentage 1 Yes 82 82% 2 No 18 18% Total 100 100% Interpretation: The above table shows that, maximum no. of respondents aware about crime rate in solapur that is the 82% knowing and 18% are don’t know about that. 82% 18% Awarenessabout crime rate yes no
  21. 21. 3) Table showing awareness about types of security product available in market SR.No. Response/ Opinion Respondents Percentage 1 Yes 40 40% 2 No 60 60% Total 100 100% Interpretation: The above table shows that, maximum no. of respondents aware about various security systems available in the market for shop security. This type of respondents are 60% are knowing and 40% are don’t know or they not interested. 40% 60% Awarenessabout types of security systemsin market yes no
  22. 22. 4) Table showing customer willingness about purchasing security system. SR.No. Response/ Opinion Respondents Percentage 1 No 60 60% 2 Yes 40 Total 100 100% Interpretation: The above table shows that, maximum no. of respondents ready to purchase security system and 60% are not interested for purchasing security product. 60% 40% Customerwillingness about purchasing security system No Yes
  23. 23. 5) Table showing benefits of security system. SR.No. Response/ Opinion Respondents Percentage 1 Yes 45 45% 2 No 55 55% Total 100 100% Interpretation: The above table shows that, 55% aware respondents are knowing what is the benefits of security system and 45% respondents don’t know what is the benefits of security system. 45% 55% Benefits of security system yes no
  24. 24. 6) Table showing use of current security product in year. SR.No. Response/ Opinion Respondents Percentage 1 0 to 2 year 30 30% 2 2 to 5 year 50 50% 3 More than 5 year 20 20% Total 100 100% Interpretation: The above table shows that, 20% respondent’s use of security system more than 5 years and 50% respondents are using 2 to 5 years and 30 respondents are using 1 to 5 years. 30% 50% 20% Use of current security product in year 0 to 2 year 2 to 5 More than 5
  25. 25. 7) Table showing various brands security system used in shops. SR.No. Response/ Opinion Respondents Percentage 1 Micro Technology 15 15% 2 Samsung 30 30% 3 ZTC 3 3% 4 Others 52 52% Total 100 100% Interpretation: The above table shows that, maximum no. of respondents use of security system and there are 15% respondents use micro technologies product,30% respondents using Samsung company product,3% respondents are using ZTC product and 52% respondents are using other company products. 15% 30% 3% 52% Various brands security systemused in shops Micro tec. Samsung ZTC Other
  26. 26. 8) Are you aware about Micro Technologies security systems products available in market? SR.No. Response/ Opinion Respondents Percentage 1 Yes 40 40% 2 No 60 60% Total 100 100% Interpretation: The above table shows that, 40% no. of respondents aware about Micro Technologies security products. And 60% respondents are don’t know about Micro Technologies security product. 40% 60% Awarenessaboput Micro Technology product yes no
  27. 27. 9) Table showing factors considered while purchasing security system. SR.No. Response/ Opinion Respondents Percentage 1 Price 80 80% 2 Technology Used 10 10% 3 After sales Service 5 5% 4 Other 5 5% Other 100 100% Interpretation: The above table shows that, maximum no. of respondents considering price factor that is 80%, 10% respondents are considering technology,5% respondents are considering after sales service.5% respondents considering other factors. 80% 10% 5% 5% Factor considered while purchasingsecurity product Price Technology After sales service Other
  28. 28. 10) Table showing awareness of various brands security systems products available in market. SR.No. Response/ Opinion Respondents Percentage 1 Yes 80 80% 2 No 20 20% Total 100 100% Interpretation: The above table shows that,80% respondents aware about the no. of security company’s/product available in the market. And 20% respondents are knowing that. 80% 20% Awarenessof various brands in market yes no
  29. 29. 11) Table showing willingness about purchasing one more security system or upgrading current security systems. SR.No. Response/ Opinion Respondents Percentage 1 Yes 30 30% 2 No 70 70% Total 100 100% Interpretation: The above table shows that, maximum no. of respondents are ready to purchasing another security product that is 30%and 70% respondents ready to purchasing one another security system for shop. 30% 70% Willingness about purchasingone more security system yes no
  30. 30. 12) Table showing satisfaction level of customers towards company’s after sales service. SR.No. Response/ Opinion Respondents Percentage 1 Yes 60 60% 2 No 40 40% Total 100 100% Interpretation: The above table shows that, 60% respondents are satisfied after sales service or product future. 60% 40% Satisfaction level of customerstowards company service yes No
  31. 31. 13 Table showing awareness of security system product. SR.No. Response/ Opinion Respondents Percentage 1 Own Research 20 20% 2 Friends Relatives Etc. 10 10% 3 Advertisement 40 40% 4 Other Sources 30 30% Total 100 100% Interpretation: The above table shows that, 30% respondents knowing won research,25% respondents knowing through friends and 45% respondents knowing through advertisement. 20% 10% 40% 30% How to aware about security product Own Research Friends Relatives Etc. Advertisement Other Sources
  32. 32. 14) Table showing cost opinion of shop keepers towards security system. SR.No. Response/ Opinion Respondents Percentage 1 Cheaper 35 35% 2 Economical 50 50% 3 Costlier 15 15% Total 100 100% Interpretation: The above table shows that,25% respondents think cheaper regarding product price,40% respondent think economical,15% respondent feel costlier and 20% respondents feel equivalent. 31% 50% 19% Cost opinion of shop keepers Cheaper Economical Costlier
  33. 33. 15) Table showing Type of security systems purchase for shop. SR.No. Response/ Opinion Respondents Percentage 1 Door sensor 5 05% 2 Camera (CCTV) 80 80% 3 Drover/Locker sensor 5 05% 4 All of Above 10 10% Total 100 100% Interpretation: The above table shows that, 80% respondents are using CCTVcamera, 5% respondent using door sensor and 5% respondents using drover/locker sensor and10% respondents are use other factor. 5% 80% 5% 10% Type of security system purchase for shop Door Sensor Camera (CCTV) Drover/Locker sensor All of Above
  34. 34. 16) Table showing approximately yearly turnover of the business. SR.No. Response/ Opinion Respondents Percentage 1 50,000-01 lac 05 05% 2 01-03 lac 05 05% 3 03-05 lac 10 10% 4 05-10 lac 20 20% 5 More than 10 lac 60 60% Total More than 10 lac 100 100% Interpretation: The above table shows that,5 % respondents 50 thousand to 1 lack,5% respondents turnover is 1 lack to 3 lack, 10% respondents turnover is 3 lack to 5 lack,20% respondents turnover is 5 lack to 10 lack and 60% respondents turnover over is more than 10 lack RS. 5% 5% 10% 20%60% Approximatelyyearly turnover of the business 50-1. 1.-3. 3.-5. 5.-10. More than 10
  35. 35. CHAPTER 5 OBSERVATIONS AND FINDINGS  There is a maximum market potential of security systems for shops in solapur city.  Most lucrative of potential segment targeted is jewelry shops, cloths showrooms, gold showrooms, automobile showrooms, hotels, lodges, mobile showrooms, cinema halls, etc.  It was found that respondents give first preference to the product Performance followed by reliability of product and then to the price.  It is observed maximum of the shop keepers feel the price of CCTV Is high.  Mostly in the market it is found that for security reason shop keepers prefer CCTV camera not use another security product. Like smoke detectors, metal detectors, sensor, etc.Because of price factor.  Price also plays an important role in the decision making than technology.  Product satisfaction is there for existing security system but some way or the other they are dissatisfied with after sales service.
  36. 36. CHAPTER 6 SUGGESTIONS  Field officers should frequently visit the existing customers and enquire about their requirements and problems they face.  Micro technology ltd have to increase their advertising to reach maximum people.  To meet the customer expectation, Micro technology has to provide discounts, gifts, & run loyalty program.  The company should sponsor any measure event in solapur.  Company should also focus on sub urban areas of solapur city.  Satish executives Should regularly visit existing customers for servicing of security system and also inform about any new adaption in security system.  Field officers can take sales leads from existing customers.  Company should take security & Safty awareness camp in major shopping areas of solapur city.
  37. 37. CHAPTER 7 CONCLUSION  In today s market most of the shops using the security system; relative market share for the HSS is indelible.  Most of the shops are well aware of the HSS systems. Had created the brand in the market for the Security system.  Due to increasing of security & crime rate in solapur. There is huge potential for the Micro Technologies India Ltd. Security system especially in the some niche shop segments in solapur from this shops study it can be concluded that this product is having large scope in market.  In today’s business world, the security & safety is must for over commercial shops due to increasing crime rate.
  38. 38. CHAPTER 7 BIBLIOGRAPHY 1) Kothari C R: Research Methodology, 2nd Edition, Wishwa Publication, 1997, Page No’s 99- 100,117-150, 403-422 2) Kotler Phillip: Marketing Management, 9th Edition, Prentice Hall of India Pvt. Ltd., New Delhi, 1997, Page No’s 113-1 3) www.google.com, 4) www.wikipidea.com, 5) www.ask.com.
  39. 39. CHAPTER 8 QUESTIONNAIRE NO. SURVEY OF SECURITY (CCTV) SYSTEM. Name : Address : Contact no : Email address : Type of business: 1) Are you using any security system product for your shop? (If yes, then go to qus 6)  Yes  No, If no please provide the reason.______________________________ 2) Are you aware about the crime rate in Solapur city?  Yes  No 3) Are you aware about the types of security products available in market for shop security?  Yes  No, If yes, provides the details (Brand, Price, etc)____________________ 4) Are you willing to purchase security system for your shop?  Yes  No
  40. 40. 5) Are you aware about benefits of security systems?  Yes  No 6) Since how many years you are using security product?  0 to 2 years  2 to 5 years  More than 5 years 7) Which company’s security system you are using? 8) Which factor do you consider while purchasing security system?  Price  Technology used  After sales service  Other, please specify_____________ 9) Are you aware about the number of companies available in market for security system?  Yes  No If yes, pleas provide names____________________ 10) Are you interested to purchase another security service or upgrade your current security service?  Yes  No
  41. 41. 11) Are you satisfied about current company’s after sales service ? (If no provide the reason)  Yes  No If no Specify the reason___________________________________________ 12) How do you aware about security system?  Own research and knowledge  Family, Friends and relative  Advertisement  Other sources, Please specify:_________________________ 13) What do you think about cost of security system?  Cheaper  Economical  Costlier 14) Which type of security product you will purchase for your shop?  Door Sensor  Camera CCTV  Drover /locker sensor  All of above 15) What is the approximately turnover of your business for yearly?  50,000-1,00,000  1,00,000-3,00,000  3,00,000-5,00,000  5,00,000-10,00,000  More than 10,00,000