Saurabh Bhattacharya Report

Analysis of the Distribution Channel and
the End Customer of Stanley Hand tools

for B2B Market in Pune
Submitted by
Saurabh Bhattacharya
PGDM(IB)
Roll no-IB09257
Under the guidance of

Prof .A.K.Biswas
BIMTECH
&
Mr.Sumit Srivastava
Stanley Works, India
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Summer Project Certificate
This is to certify that Mr. Saurabh Bhattacharya Roll No. 09IB257 a student of PGDM
(IB) has worked on a summer project titled Analysis of the Distribution Channel and End
Customer of Stanley Hand Tool for B2B Market in Pune at Stanley Works, India after
Trimester-III in partial fulfillment of the requirement for the Post Graduate Diploma in
Management programme. This is his original work to the best of my knowledge.
Date:___________ Signature ________________
(_________________________)
Name of Faculty
BIMTECH SEAL
Industry Certificate
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Acknowledgement
It is a matter of great pleasure to acknowledge the guidance, enormous assistance and co-
operation extended to me from every corner, while proceeding with my internship
My first word of gratitude is due to Mr. Sumit Srivastava Sales Officer, my corporate guide,
for his kind help and support and for his valuable guidance throughout the project. I am
thankful to him for providing me with necessary insights and helping me out at every single
step. I would also like to thank Mr . Kuldeep S. Bhardawaj as he found me credible enough
to work for Stanley Works India (P) Ltd
My heartfelt thanks to my respected Faculty Guide Prof.A.K.Biswas, Birla Institute of

Management Technology, Greater Noida, without his continuous help the project would not
have been materialized in the present form. His valuable suggestions helped me at every step
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I would also like to express my gratitude to all other people who had extended their helping
hand directly or indirectly throughout the internship, and without whose help my internship
would not have been completed.
I would also like to thank my parents for their guidance and support. They have remained a
source of inspiration for me
Saurabh Bhattacharya
IB09257
PGDM-IB
Executive Summary
The Stanley Works, The 167 year old company is a worldwide manufacturer and marketer of
tools, hardware and specialty hardware products for home improvement, consumer, industrial
and professional use. The company stills bears not only Frederick Stanley's name but also the
spirit and passion that drove him to succeed where others failed.
Stanley India, a fully owned subsidiary of Stanley Works, U.S. having its head quarters in
Delhi, started its operations in the year 2007. They import their own products manufactured
in different countries and sell those in Indian Market with the help of its extensive chain of
distributors & dealers. In the past one year, Stanley has been able to appoint more than 170 +
distributors all over India.
The U.S. hand tool industry is estimated to be a $6.2 billion. Hand tool demand, including
power tool in the United States is expected to rise 3.1% annually through 2011, reaching
$14.3 billion, according to a recently released report
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All the products of Stanley are categorized into 3 segments: Hand Tools, Hardware,
Assembly technology and Hydraulics. In India, Stanley has launched nearly 2400 products,
and is in the process of launching more. Presently, Stanley India is focusing on Industrial
Tools and Hardware business in India
India has a competitive advantage in the hand tool industry compared to other countries
because of easy availability of raw materials, entrepreneurship skills and skilled labor at
competitive wages. The hand tool industry as a whole is witnessing a shift of manufacturing
base from traditional manufacturing countries in Europe and Taiwan to the developing world
and this is a good sign for India to benefit. There has been an average growth of 17% per
annum of the hand tool market in India for the last 7 years.
The study covers the business development potential and the study of the buyer’s behavior of
Stanley hand tools for B2B market in Pune region.
The study started with the much needed product training by the Stanley employees. A tour to
the Authorized Distributor and Dealer of Stanley in the city was carried out under the
guidance of the Industry mentor.
The Hand Tools industry is a very labor intensive industry.

The field study started with gaining knowledge about the industries in Pune and their needs
and requirements vis-à-vis hand tools. This was done on a daily planned visit to the Industries
in and around Pune city. A 6 day weekly plan was prepared and followed so as to target one
location of the city per week. Companies were segmented in such a way they could be
potential customers for Stanley hand tools in future. A comparative study of different brand
of hand tools used in different industries was carried out by meeting different end users of the
company.
The respondents were interviewed on the basis of a structured questionnaire. Some points
were also noted on the basis of my own observation during my visits to the manufacturing
plants. The comparison was done on parameters like quality, price, performance, availability,
durability, design, maintenance, functionality, customization, after sales service (ASS), lead
time, discount offered. This was judged on Likert scale. Some open ended and closed ended
questions were also asked to the respondents. Quotations were sent to companies after
receiving request for the same.
On the basis of this study and my observations some critical recommendations were made at
the end of this report. If these recommendations are applied, it will boost the sales and create
an awareness of Brand in the B2B market of Pune.
Recommendation for better advertising and promotion was made. The company needs to
work on its branding awareness. It is highly recommended that Stanley use testimonials from
satisfied users to increase brand awareness. Certificates from Satisfied Stanley customers
must be used as a proof. To expand the market in India, it is important to realize the price
sensitive customers. The company must justify the price premium. Either increase the volume
of sales or reduce the cost of production. Demonstrate to the customers that the performance
of Stanley product is better.
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Provide tools for usage as samples. It is a general perception of the customer that since the
office is not located in the city the after sales service will not be effective. Hence a regional
office must be set up in the city Rs.1.5 crore pa is the Stanley’s held value in Pune
Rs.1.6 crores pa is my proposed potential value in addition to the existing value. My
proposed potential is little more than 100% of the existing value generated from Pune. Target
the premium segment, then target the next segment. To target the less premium segment bring
down the price and sacrifice the price premium to increase the volume of sales.
Pune is a developing city with large number of top manufacturing companies. These
companies are potential customers of Stanley. The sales force in Pune should be increased.
Sales force should not only communicate value but create value. Value can be providing
innovative solutions. It is also recommended to have a warehouse or an exclusive showroom
in the west region. Concentrate on customers need, attitude and changing behavior due to the
market fluctuations. Make the products available to the customer as quickly as possible.
Table of Content
Content Page No.
Chapter I: Introduction 9
Chapter II: Objective 11
2.1 Primary Objectives 11
2.2 Secondary Objectives 11
2.3 Scope of the Study 11
2.4 Limitations of the study 11
Chapter III: Methodology of study 12
3.1 Reach of the Project 12
3.2 Research Plan 12
3.1.1 Data Sources 12
3.2.2: Research Approaches 12
3.2.3: Research Instruments 13
3.2.4: Sampling Plan 13
3.3: Collection of Data and Analysis 13
3.4: Findings & Recommendations 13
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3.5: Steps Involved 13
3.5.1: Literature study 13
3.5.2: Expert opinion 13
3.5.3: Descriptive study 13
3.5.4: Scaling technique 13
3.5.5: Designing questionnaire 13
3.5.6: Deciding the sample size 13
3.5.7: Data collection 13
3.5.8: Analysis of the data collected 15
3.6: Plan of data analysis 15
Chapter IV: Industry and Company analysis 16
4.1: Company Overview 16
4.1.1: Authorized Distributors: 22
4.1.2: Authorized Dealer 22
4.2: Stanley’s Valued Customers 23
Chapter V: Analysis and Findings 24
5.1: Industry Segmentation 25
5.2: Analysis of the Respondents 25
5.3: Awareness of Stanley in the Market 26
5.4: Source of Information about Hand Tools 26
5.5: Most widely used Hand tools in the Industry 27
5.6: What are the Hand Tools generally used by the respondent 28
5.7: Frequency of the Purchase 29
5.8: Tools that Break or don’t function properly 29
5.9: Result of the Factor Analysis 30
5.10: Satisfaction level of the present Hand tool 34
5.11: Decision Maker in the Company 34
Chapter VI: Conclusions and Recommendations 37
Chapter VII: Bibliography 40
Annexure I: Company History 41
Annexure II: Stanley products 50
Annexure III: Literature Support 57
Annexure IV: Potential of the companies 62
Annexure V: Details of the company visited in Pune 64
Annexure VI: Details of Factor Analysis 67
Annexure VII: Questionnaire 80
Annexure VIII: Standards 83
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Chapter I: Introduction
The Stanley Works is positioned to meet tomorrow's competitive challenges and continue as
a leading worldwide manufacturer and marketer. Our businesses are diversified in terms of
products, geographic spread and channels of distribution. We have moved effectively to
expand our products into new market areas such as the Far East and Eastern Europe.
Today, the Stanley name is known around the world as a reliable guarantee of quality and
value.
The Indian operations of Stanley is involved the
· Laser Products
· Hardware
· Hand Tools
· Proto
The most popular product category is hand tools. The tools, which are operated by hands, are
known as hand tools. Hand tool products include a broad category of hand tools. Hand tool
products are broadly used in all type of industries. Today technology has become highly
advanced but still the importance of hand tools products cannot be ignored. In fact hand tool
products are the backbone of all the industries; no matter how advanced are the machines and
technology used there. No industrial process can be executed without using hand tools.
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As machine can never replace importance of mankind the same way automatic tools can
never take place of hand tools. The use of hand tools is must in every kind of industrial job
but sometimes it is not promptly noticeable. Even if the entire process is executed by
automatic tolls and machine, then too hand tools are required for additional jobs like packing,
finishing etc. Furthermore the efficient working of machine is also dependant on hand tools.
Hand tools are essentially required for repair and lubrications of machines.
Apart from this they are widely used for home repairs, garages, electrical appliances etc. A
kit full of primary hand tools products may be easily found at any home. Hand tools are used
to execute very complex as well as simple tasks. Screwdriver is such a common hand tool
product, which is the part of every engineer’s tool kit as well as in every household.
Spanners, screwdrivers, pliers, clamps, riveters, wrenches etc., are used for tightening and
riveting the various screws etc. Hand tool products are designed to carry easily. That’s why
every vehicle has its own set of hand tool products. It can be used in time of any breaking of
machine where one does not find any help. Hand tool is a savior in time of need. A kit of
hand tools products is like a first-aid box for machinery.
Factors to consider for the growth of the hand tool industry

Hand tool industry is a growing one. Developed countries like EU, USA have already been
manufacturing and exporting hand tools since a long time. Developing countries like India,
China, and Japan are coming up. Some factors that are to be considered for the overall
development of the industry are as follows:
• Manufacturing centers should be equipped with the latest hand tool manufacturing
technology.
• For small, medium scale entrepreneurs in the developing areas, credit should be made
available to them at lower rates of interest.
• This industry is usually a part of hand and power tool industry as a whole. Hence,
steps should be taken to built up a Hand Tool Industrial Estate, exclusively for the
Hand Tools Units, in all countries.
• Labor laws of all countries dealing with hand tools should be made more investor
friendly, especially for small entrepreneurs.
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Pune has a large potential market for Stanley Hand-Tools. Stanley Hand tools are
manufactured in different locations outside India. A warehouse in Sonipat stocks all the
materials and is supplied to the distributors from here.
Pune is a base of leading Automobile companies in India. Stanley already supplies to
Automobile Companies like:
 Mahindra
 Volkswagen
 Mercedes Benz
 General Motors
 Fiat
 Premier
 Kinetic Motors
 Dilip Chabria Design (DC Motors)
As the market research was done to B2B market the sample size was taken as 65. The data
was collected from purchase managers and end users. Certain care was taken to avoid errors
of history as the consumers were all contacted at the place of location. The other errors were
either avoided or even though present it was cancelled out due to the presence of the same
with other brands.
The problems that I had to study during my internships in Pune are: understanding the buying
behavior of the customers and the business development potential for Stanley Hand Tool
B2B market
Chapter II: Objective and Scope
2.1: Primary Objectives

· To assess the scope for the business development of Stanley Hand Tools in Pune.
· To study the Decision making behavior.
2.2: Secondary Objectives

· To find the potential for Stanley Hand Tools in the existing market.
· To find the hand tools purchaser’s needs and the expectation on hand tools.
· To identify potential customers and new plants where business development can truly
happen
2.3: Scope of the Study

The study provided an insight into the hand tools usage, expectations and attitude towards
hand tools like spanners, pliers and screw drivers. And to find out what factors the customers
seek in general, with regards hand tools. This study will help to find out the feedback of
Stanley hand tools with regards to price, brand, quality, durability, reliability, availability,
etc.
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2.4.: Limitations of the study
No research would be a fool proof, 100% error free with the time/ money constraints and
within the limited resources. My research study was no exception.
I too had my own set of problems in terms of price, availability and with the fact that I was a
first timer in this field
The first limitation could be the fact that Expert opinion. Depth interview and all the
Descriptive studies were conducted on a sample size of 65. Though these techniques were
conducted to unearth it still could be limited.
· Next limitation would be the fact that the sample size of 65. More the sample size more
detailed study would be.
· The sample taken for creating the model included people from various industries in Pune.
· The conclusions made are based on the data collected from the sample size. So the
conclusion are based how truthfully the people entered the data.
These were some of the limitations identified during the course of my research
Chapter III: Methodology of Study
The projected was executed in such a way that it is complete to the maximum extent covering
all the aspects and thus arriving at a suitable conclusion to meet the objective of the project.
Few recommendations were also suggested to the company, which can help the organization
to grow further and penetrate faster into the new markets.
3.1: Reach of the Project

The study was conducted covering the geographical region of Pune. The reach of the project
consisted of various industries and dealers located in these above mentioned areas.
3.2: Research Plan

The research was started with a well laid research plan and weekly schedule. The research
plan included the following important stages.
1) Data Sources
2) Research Approaches
3) Research Instruments
4) Sampling Plan
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3.2.1: Data Sources
Primary Research: most of the data in this project was through primary research conducted
in industries. It was done completely through personal interviews, though a prepared
questionnaire was used as guide line and which was later filled summarized.
Secondary Research: Latest information available on internet about various industries and
dealers was also used apart from the data got through primary research, so as to have a good
study of the hand tools market in Pune
3.2.2: Research Approaches

Approaching Customers/Industries:
– Getting permission into an industry would complete almost 50% of your job as it would
give the platform to know about their operations.
– Get the details of the persons as many as possible in the industry
– Spend your maximum time in the industry, so that you would know what the work
Environment is i.e., whether they are using quality products, how much of their operations
are being done by contractors, what is their hand tools purchase quantity and frequency of
purchase, etc.
– Also try to find out how the process of purchase takes place, which might be different for
different departments.
Closing the sale:

– This is very important for both the parties to build the relation and also for oneself as this
give motivation and adds more value to your work.
– To reach to this stage, one must be clear how much work needs to be put in, which operates
as a funnel like, if u want to reach or make x sales at least you need to meet 10x customers.
– The time in which you would achieve this should also be planned in the similar way.
3.2.3: Research Instruments

The research instrument was both qualitative and quantitative and hence consisted of personal
Interviews, which were guided by self prepared Questionnaires. Each of the questionnaire
consisted of 12 questions on an average. The questions were both open ended and closed
ended. The closed ended questions were a diverse type consisting of single choices, multiple
choices, likert scales and rating scales.
3.2.4: Sampling Plan

The industries to be visited were based on their type of industry like Automobile
Manufacturing and assembly units, steel Plants, chemical industry, Fabrication Industry, and
any other major industries. The sample for studying the end user of Hand tools was chosen to
be
65 from 38 different companies visited. These included users from different departments of
the Company.
Initial leads were taken from 2 Distributors and 1 Dealer in Pune under the guidance of the
Industry Mentor.
3.3: Collection of Data and Analysis
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Various Pie-charts and bar-graphs are made to have an easy and quick understanding of the
study conducted. Initially all the questionnaires were analyzed individually, and then finally
an overall comparison of the various responses from all the dealers was done and analyzed.
3.4: Findings & Recommendations

Finally, the various findings from the study were listed out along with certain invaluable
recommendations for STANLEY, to help the company generate and tap the new markets.
3.5: Steps Involved

The following steps were followed to attain the objective.
3.5.1: Literature study

There is no specific study, which was done on identifying hand tools purchasers purchase
behavior.
3.5.2: Expert opinion

Expert opinion is the process where an expert in the related field is interviewed to get
information that can be used in the study. In this case distributors, dealers, sales officers,
marketing manager of Stanley for south and purchase managers of industries which use hand
tools are considered as an expert.
3.5.3: Descriptive study

The descriptive research design used in this case is survey method and personal interview.
Personal interview with various industry purchase managers made the researcher to find some
of the factors and ideas by observation, hearing their grief and interacting with them.
3.5.4: Scaling technique

The scaling technique used in the questionnaire was likert scale, open, closed ended and
ranking scale. All the questions in the main questionnaire were extracting answers by this
scale. This was maintained throughout the questionnaire to keep the reliability and validity in
control. The likert scale technique is widely used to determine the level of agreement or
disagreement of an issue in the questionnaire. And another set of likert scaling were used to
determine the most important and least important of an issue in a questionnaire.
The scale was designed with five response categories as shown below.
1---Most important
2---Important
3---Neutral (Neither important nor unimportant)
4---Less important
5---Least important
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The questionnaire when framed was carefully done to avoid complex words. In
circumstances where such words could not be avoided, explanations were given for the
respondents to understand easy.
The ambiguous words or sentences were also avoided. Each section of the questionnaire had
an initial explanation of how to answer the questions. An example was also given for easy
understanding of filling the questionnaire. Important instructions were highlighted in bold
letters to improve the vision and for a quicker understanding of the instructions by the
respondent.
The questionnaire was altered on and off as required. The corrections were made and then it
was tested amongst the respondents. The respondent didn’t have any problem in
understanding the questionnaire and answering it.
3.5.5: Designing questionnaire

Based on the results obtained from the descriptive study and using scaling method the final
Questionnaire was prepared and administered to the respondents.
3.5.6: Deciding the sample size

The sampling technique used for the research was more of a stratified random sampling. This
is because of the customers who were all possible to meet were selected. The sampling was
done as mentioned above due the lack of time to get data.
3.5.7: Data collection

Data was collected from both purchase managers and end users using stratified random
sampling.
The researcher went to each of them and conducted a depth interview, which takes almost 15-
20 minutes. The sample was about 65 potential customers for Stanley Hand Tools
The data for the questionnaire was collected directly and through e-mail from purchaser
mangers and end users. The data was collected from most of all industries in Pune only.
Using the data collected by the researcher was able to come with factor analysis to see
whether the factors are really related to the buying decision.
3.5.8: Analysis of the data collected

All the data collected was fed into a database created in Microsoft Excel especially for this
purpose.
The various tools and functions available on excel were used for necessary calculation. Bar
graphs and pie charts were generated to make the interpretation of the results easier. SPSS
software was used for the purpose factor analysis.
Data analysis model is econometric model and was planned to be done with the statistical
tool SPSS.
The data was got mainly in the likert scale for this purpose. The various tools and functions
available on Excel were used for necessary calculations. Bar graphs and pie charts were
generated to make the interpretation of the results. SPSS software was used for the purpose of
factor analysis.
3.6: Plan of data analysis

The data analysis done as in the plan given below
1. Filtering of the questionnaire were done
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2. The questionnaires were sorted into the respective groups
3. Coding of the questions were done
4. All the data was entered into different excel sheets
5. This data was copied to the SPSS tool all the variable were explained
6. The other questions related awareness, departments, ranking and current brand were
analyzed using Micro soft Excel.
7. Results were tabulated and conclusion and recommendations were drawn.
Chapter IV: Industry and Company Analysis
4.1: Company Overview.

It is 167 years old company. Stanley is a number one Brand in the U.S and Europe.
"The secret of this company's success is an open one -- all who will may avail themselves of
it, and all who do so will succeed -- one word tells it all and that one word is – Excellence
With products sold in more than 130 countries, the Stanley® brand is recognized worldwide.
From crisis comes OPPORTUNITY. The chance to emerge BETTER than ever before. By
remaining committed to our guiding PRINCIPLES. And TRANSFORMING a LEGACY
established over a century ago. Today’s Stanley is lean, flexible, diverse, and focused on long
term GROWTH.
Today’s Stanley is READY for tomorrow
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The Stanley Fulfillment System (SFS), created to encompass and improve upon Stanley’s
long tradition of operations excellence, is the heart of our business operations. It’s a
continuous improvement program focused 100% on the needs of our customers and a
comprehensive business system that guides the way we work every day. SFS is at once our
blueprint for success and our roadmap for continued growth.
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At the heart of SFS are three simple, customer-facing goals:
· Improve Service
· Increase Quality
· Reduce Costs
Service, quality and costs have always been strengths at The Stanley Works. SFS is our
commitment to making them even stronger
Stanley also has a good portfolio of brands many of which are strong leaders in their
categories.
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Stanley has recently merged with Black & Decker
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Stanley’s Strategic Framework
Be A Consolidator Of The Tool Industry
 Increase Relative Weighting Of Emerging MarketsBe Selective and Operate In MWhere:
 Brand Is Meaningful (Stanley Or Sub-Brand)
 Value Proposition Is Definable And Sustainable Through Innovation
 Global Cost Leadership Is Achievable.Pursue Growth On Multiple Fronts Through:
 Building On Existing Growth Platforms
 Developing New Growth Platforms over Time. Accelerate Prss Via Stanley FulfillSystem
 Increased Scale In Hand And Power Tools
 Greater Presence In Latin America, Middle East and Eastern Europe
 Significant Brand Equity
 Extensive Array of High Value-Added Products And Strong Culture Of Innovation
 Bringing Together Two Cost Leaders
 Increased Size And Scale
 Adds Attractive New Engineered Fastening Growth Platform
èOwnership
50.5% Stanley / 49.5% Black & Decker
èCompany Name Stanley Black & Decker
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All the products of Stanley are categorized into 3 segments: Hand Tools, Hardware,
Assembly technology and Hydraulics. In India, Stanley has launched nearly 2400 products,
and is in the process of launching more. Presently, Stanley India is focusing on Industrial
Tools and Hardware business in India.
Some of the valued customers of Stanley India are Tata Motors, Airtel, Nokia, Mahindra,
DMRC, etc.
No. of Distributors for Stanley Products in India:
PROTO 5
Hardware 20
Laser Products 8
Stanley Hand Tools 140
Stanley Works will set up its manufacturing facility in the country and aims to clock a
turnover of $100 million in next three years from Indian operations.
Geographical reach of channels in India
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Stanley India Hierarchy Chart
India General Manager
Regional Managers
Business Development Sales Officers

Distribution
Stanley follows a hybrid distribution system.
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At present Stanley has three channel partners in Pune-two Authorized Distributors and One
Authorized Dealer.
4.1.1: Authorized Distributors:
 Bhaigora Enterprises: LocationèRasta Peth
 Indian Tools: LocationèChakan
4.1.2: Authorized Dealer

 Super Hardware: LocationèPimpri
Deficiency: No regional office in the city.

Stanley is rated high on the price factor when compared to its competitors in India.
Some of the Competitors of Stanley Tools in Indian Markets include
 Taparia
 Everest
 East Man
 Snap On
 Ambika
 Bahco, Blue Point
 Sioux
 Multitec
 Mac Master
 Jhalani.
Amongst all, Taparia is the biggest competitor for the Stanley Tools. Irony is that Stanley
Works is expanding in India when Taparia is expanding its operations in European Markets
Since the company has channel partners in the city, the service provided is done by the
company. Hence the company has an active role to play
The company has a good market in Pune. The revenue generated by the Pune market is
approx Rs.1.5 crores p.a
Stanley’s customers in Pune
 Mercedes Benz
 Volkswagen
 General Motors
 Mahindra
 Fiat
 MTN
 Indian Army
The Authorized Distributors/Dealers are allocated different locations of the city for business.
A company representative is available to cater the market of Pune. Other than the company
representative the Distributor and the Dealers Executives also play a vital role in generating
and exploring the business development potential in the city. Since the Distributors/ Dealers
already cater to some part of the market in the city, they are a useful tool in converting and
convincing the End Users to use Stanley Hand Tools rather than the local made Hand Tools.
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4.2: Stanley’s Valued Customers
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Chapter V: Analysis and Findings
The City of Pune is a hub of Manufacturing companies Atlas Copco, Alfa Laval, LG, Finolex
Cables etc, and leading Automobile making companies Force motors, DC motors, Tata
Motors, Fiat, Premier Motors etc..
Segmentation was done on the basis of customers who want same type of benefits or solution
to a problem from the offered product. Demographic variable was also considered. It was
important for me to understand the Key Organizational Characteristics of the buying
organization while segmenting the Companies.
Segmentation
Now I have done Macro and Micro segmentation
Macro Factors
 Size of the organization
 Location
 Organizational structure
Micro Factors
 Decision making Unit Characteristics
 Buying behavior
Since I have to study the buying behavior, I have segmented the customers on the basis of
buying behavior.
Different companies were targeted so as to cover as many companies as possible divided

geographically across the city limits. 4 such major locations were chosen.
A weekly plan was made and followed so that one particular location was covered.
The locations are

 Hinjewadi
 Pirangute
 Pimpri-Chinchwad
 Chakan
I chose 38 companies after studying the companies on a daily basis and taking appointments.
There was a weekly plan made and also followed.
The potential of the Pune market that I surveyed is Rs.1.63 crores.

Details have been put in the Annexure IV
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5.1: Industry Segmentation
No.of
Sector respondents
Automobile 4
Chemical 1
Engineering
/Manufacturing 30
Fabrication 2
Steel Plant 1
Manufacturing and Engineering industry is the main customers for Stanley. 79% of the
respondents were from such industries.
5.2: Analysis of the Respondents
Different end users from various departments were interviewed so as to get a wide feedback
about the study.
Other departments include Vendor Development, Operations, and Quality Control.
Segmentation Of No.of
Customers respondents
Purchase 20
Maintenance 21
Vendor Development 1
Operations 4
Poduct Development 5
Quality control 1
Production 13
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65 End Users including purchase managers of various companies were interviewed.
Out of the 65 respondents, 31% were Purchase managers, 32% were Maintenance Incharges,
and 20% were Production Managers
5.3: Awareness of Stanley in the Market
15% of the respondents are aware of Stanley Hand Tools.
Awareness Of No. of
Stanley respondents
Yes 10
No 55
5.4: Source of Information about Hand Tools
No.of
Source of information respondents
Present vendor 20
Stanley representative 10
Seminars or exhibition 8
Friends or peers 22
Others 5
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The data shows that 31% of the respondents admit that they get the Information about Hand
tools from their local vendor.
Distribution channels are hence proved effective.
A significant number of respondents (28%) have admitted that word of mouth of a good
product can spread like grapevine.
Another 18% of the respondents visit exhibitions and seminars.
5.5: Most widely used Hand tools in the Industry
20% of the respondents admit that Spanners are the most widely used Hand tools after Allen
Key (34% respondents agree that Allen Keys are most widely used).
No. of
Most widely used tools respondents
Spanners 13
Torque Wrench 8
Hammers 2
Hex Keys/Allen Keys 22
Pliers 10
Crimping Tools 2
Tool Kits 8
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5.6: What are the Hand Tools generally used by the respondent
45 of the respondents out of 65 use Taparia Brand Hand tools, i.e. 69%. Only 6% of the
respondents use Other Important Brands.
No. of
Hand tools Used respondents
Taparia 45
Everest 8
Cromwell 2
Others 4
Jhalani 4
Gedore 2
Majority of the customers use Taparia made tools in the Industry. 69% of the respondents
admitted that they use Taparia make tools
28
5.7: Frequency of the Purchase
51% of the respondents purchased hand tools yearly, 6% purchased Half yearly, 3%
purchased Quarterly and 40% purchased once in 2 years
Frequency of
purchasing Hand No. of
tools responses
Yearly 33
Half yearly 4
Quarterly 2
In 2 years 26
65
5.8: Tools that Break or don’t function properly.
Tools that frequently No. of

break respondents
Hammers-Breakage 29 23
Screw Driver-Breakage 7
Jaw Pullers 5
Torque Wrench 30
35% of the respondents complain about Hammer breaking from the ‘T’ joint. It is important
to note at this stage that only 3% of the respondents admit that Hammer is most commonly
used tool in their company.
Majority of the respondents complain about Torque Wrench not functioning well. Again 12%
of the respondents have agreed that Torque Wrench is the most widely used Hand tool.
5.9: Result of the Factor Analysis
The 12 items of Stanley were subjected to principal components analysis (PCA) using SPSS
Version 16. Prior to performing PCA the suitability of data for factor analysis was assessed.
Inspection of the correlation matrix revealed the presence of many coefficients of .3 and
above. The Kaiser-Meyer-Oklin value was .703, exceeding the recommended value of .6
(Kaiser, 1970, 1974) and the Barlett’s Test of Sphericity (Bartlett, 1954) reached statistical
significance, supporting the factorability of the correlation matrix.
Principal components analysis revealed the presence of four components with eigenvalues
exceeding 1. Then I decided to consider 3 factors. To aid in the interpretation of these three
components, Varimax rotation was performed. The three component solution explained a
total of 50.469 per cent of the variance, with Component 1 contributing 20.146 per cent and
Component 2 contributing 17.155 per cent and Component 3 contributing 13.169 per cent.
The results of this analysis have reduced the 12 factors to three.

Main loadings on Component 1 are items Quality and Durability
The main items on Component 2 are Maintenance and Functionality
The main items on Component 3 are Price and Discount
Details of the factor analysis has been provided in Annexure VI
Varimax rotation for 3 factor
30
Now we reduce the factors to three and repeat the same process
Varimax rotation-3 factor
Total Variance Explained

Compone Initial Initial Extractio Rotatio Rotation Rotation
nt Eigenvalu Eigenvalu n Sums n Sums Sums of Sums of
es es Extractio of of Squared Squared
n Sums Squared Extraction Square Loading Loadings
Initial of Loadings Sums of d s
Eigenvalue Squared Squared Loadin
s Loadings Loadings gs
Total % of Cumulati Total % of Cumulati Total % of Cumulati

Variance ve % Varianc ve % Varianc ve %
e e
1 3.086 25.713 25.713 3.086 25.713 25.713 2.417 20.146 20.146
2 1.639 13.660 39.373 1.639 13.660 39.373 2.059 17.115 37.300
3 1.331 11.096 50.469 1.331 11.096 50.469 1.580 13.169 50.469
4 1.109 9.245 59.714
5 .933 7.776 67.490
6 0.842 7.014 74.504
7 0.728 6.064 80.568
8 0.666 5.553 86.121
9 0.448 3.736 89.857
10 0.438 3.647 93.504
11 0.416 3.467 96.971
12 0.363 3.029 100
Extraction method: Principle component analysis.
31
Component Matrixa
Component
1 2 3
Quality .615 .492
Durability .524 -.338 .410
Price -.375 .504 .517
Availability .484 -.315
Performance .418
Customization .630
Design .802
Manitenance .550
Reliability .556 .427
Functionality .602 .377 -.462
Leadtime .572
Discount .459 .475
Extraction Method: Principal Component Analysis.
a. 3 components extracted.
Component Transformation Matrix
Compo
nent 1 2 3
1 .778 .578 -.248
2 -.288 .678 .677
3 .559 -.455 .693
Extraction Method: Principal Component

Analysis.
Rotation Method: Varimax with Kaiser
Normalization.
32
Rotated Component Matrixa
Component
1 2 3
Quality .813
Durability .734
Price .793
Availability .557
Performance .397
Customization .581
Design .685 .381
Maintenance .325 .497
Reliability .654
Functionality .813
Lead time .377 .504
Discount .699

Rotation Method: Varimax with Kaiser Normalization.
a. Rotation converged in 4 iterations.
Interpretation of Varimax Rotation

In the table labeled Total Variance Explained there are only three components listed in the
right-hand section (as compared with four, in the previous un rotated output which is
mentioned in the Annexure VI in detail). This is because I asked SPSS to select only three
components for rotation. The distribution of the variance explained has also been adjusted
after rotation. Component 1 now explains 20.146 per cent of the variance and Component 2
explains 17.155 per cent and Component 3 contributing 13.169 per cent. The total variance
explained (48.2 per cent) does not change after rotation, just the way that it is distributed
between the two components.
33
5.10: Satisfaction level of the present Hand tool
The following data shows that 52% of the respondents (46% Excellent and 6% Good) are
actually satisfied with the present hand tools, and 48% of the respondents are under the
satisfaction level
Satisfaction level
of present Hand No. of
tools respondents
1-Excellent 30
2-Good 4
3-Neutral 4
4-Bad 12
5-Dissatisfactory 15
5.11: Decision Maker in the Company
Decision maker while

purchasing the No. of
equipments respondents
End User 50
Purchase Department 15
34
The above data shows that majority of the time the decision maker is the different end users
in the company.
Different department will have their different requirement and they in turn ask the Purchase
Department to order the particular tool. In some companies it was observed that the Purchase
manager is the decision maker, though the percentage is very less approx 23%.
77% of the respondents are End Users who are the decision makers when it comes down to
take decisions on which company tools are to be purchased
An open question was also included to the 15% of the respondents who were aware of
Stanley as a brand of hand tools. They were asked the reason why they did not buy Stanley
Hand Tools. 60% of the respondent did not purchase Stanley products of its high price, 30%
of the respondent fear that after sales service will not be available since there is no office in
Pune.
Reasons for not No. of

purchasing Stanley tools respondents
High price 6
After sales service 3
availability 1
35
After my study it was clear that the Brand awareness of Stanley in the market of Pune is very
low. Only 15% of the respondents knew Stanley as a brand of hand tools. The remaining 85%
of the respondent are also potential customers of Stanley, but are not aware of the company’s
existence in the market. Few factors that needs to focused are Quality and Durability
Maintenance and Functionality Price and Discount (according to the factor analysis
performed earlier)
36
Chapter VI: Conclusions and Recommendations
Conclusion
Advertising and Promotion are not very effective
Recommendations-
Take part in Auto shows in India or up-coming Trade Shows in India like IndiaMART
AMTEX 2010 (Asian Machine Tool Exhibition) from, July 23-2010to 26th July 2010 to be
held in New Delhi.
Automation 2010 in Mumbai-Bombay Exhibition Centre - NSE Exhibition Complex,
Mumbai, India from September-21-2010 to 24th Sep-2010
Other than participating in such events, the company should also Advertise and create an
awareness in the Industry.
This can be done by advertising in Auto magazines, Business magazines, TV advertising.
Collaboration with Automobile companies-so that they can promote Stanley tools as a
recommended tool kits for assured safety.
Conclusion:
Only 15% of the respondent I surveyed was aware of Stanley as a Brand.
Recommendations
Word of mouth is the best way of advertising. It is highly recommended that Stanley use
testimonials from satisfied users to increase brand awareness. Certificates from Satisfied
Stanley customers must be used as a proof. Organize regular corporate functions like
Dinners, where Stanley’s top executives can interact with the executives from the Industry.
Complimentary stationeries with Stanley logo should be distributed among these executives.
This will definitely increase the Brand awareness among the local executives. Brand is a
distinctive identity of the company, it promises value. Without a great product and service
there can be no successful Brand. Having a brand with high perceived value in the minds of
the customer will set a stage for a long lasting relationship.
Conclusion:
The Price structure of Stanley equipments is very high. Most customers are not convinced
about the price premium that they have to pay when they buy Stanley products.
To expand the market in India, it is important to realize the price sensitive customers. The
company must justify the price premium. It is difficult to convince the customers to purchase
Stanley products on the grounds that Stanley products have better and long lasting life cycle.
Recommendations:
Either increase the volume of sales or reduce the cost of production. Demonstrate to the
customers that the performance of Stanley product is better.
Provide tools for usage as samples.
Look at the cost effective measures that can be taken to reduce the price, this was out of the
scope of my study; hence I cannot comment anything on the pricing factor. But certainly this
should be considered.
Conclusion:
37
No Regional Office
Recommendation:
It always helps to set up a regional Office in the city.
According to my research a majority of the Customers are worried about the After Sales
Service (ASS). The very fact that there is no office in Pune and there is only one office in
New Delhi i.e. the corporate office forces the customer to think once again before taking any
purchase decision. It is a general perception of the customer that since the office is not
located in the city the after sales service will not be effective.
Conclusion:
The Pune market has a very high potential for Stanley hand tools. According to my study the
potential of the market is Rs.1.63 crores pa.
Rs.1.5 crore pa is the Stanley’s held value in Pune
Rs.1.6 crores pa is my proposed potential value in addition to the existing value. My
proposed potential is little more than 100% of the existing value generated from Pune.
Recommendations:
I have already send quotations worth Rs.10 lac approx. Follow up on these orders.
Target the premium segment, then target the next segment. To target the less premium
segment bring down the price and sacrifice the price premium to increase the volume of sales.
Pune is a developing city with large number of top manufacturing companies. These
companies are potential customers of Stanley. In my report I have mentioned the names of
the top companies in India which have manufacturing plant in Pune. Apparently these were
never targeted. If these companies are tapped, the sales will increase drastically.
Conclusion:
Small sales force.
Recommendation:
Geographically the city limits is very large, hence it is strongly recommended to increase the
sales force team. Practically it becomes difficult for one sales officer to handle so many
regions and so many companies. This results in delay of response. Sales force should not only
communicate value but create value. Value can be providing innovative solutions.
Conclusion:
No warehouse or showroom in the city
Recommendation:
Since all the equipments are not stocked with the local Distributor, it is strongly advised to
have a warehouse in the west region. I faced such situations many times when the customer
wants to have a demo of the product and it is not available with us. To add on to it the lead
time is very high.
One of the top executive I visited recently rightly said “in India, it’s a tendency to dig a well
only when you are thirsty”. This is very critical but a soft learning for me, which also makes
it obvious that customers want quick service, if they do not get quality product when they
need it, they compromise on the quality and order the product from the local market, which is
delivered to them in less than the promised time by Stanley.
38
Conclusion:
I observed that it is a tendency in the industry to reject the product when they realize that it is
made in china. (To add on to this the price is high)
Recommendations:
It is very important to change the perception of the end user. Most of the Stanley equipments
that are available with the Distributor are either made in Taiwan or China. This gives a very
negative impression of the company in the minds of the end user. It is strongly recommended
to procure equipments which are manufactured in some other place. If this is not possible
then the printing on the package should be made in English rather than Chinese.
Conclusion:
Less Market penetration
Recommendation:
Customers choose the offer that meets their needs or requirement better than any other at a
price they are willing to pay. The solution is to provide benefits to the customer-relationship
benefits. Concentrate on customers need, attitude and changing behavior due to the market
fluctuations. Make the products available to the customer as quickly as possible.
All my decisions have been taken based on the responses and my analysis about the
same.
Chapter VII: Bibliography
39
www.stanleytools.com
www.stanleyblackanddecker.com
www.industrialtools.in
www.wikipedia.com
www.agelessmarketing.com
www.marketingprofs.com
www.hand-tools-manufacturers.com
www.faqs.org/sec-filings/091103/STANLEY-WORKS_8-K/ex991-.htm
www.hti.org/0410HTIStandards.htm
www.hand-tool-manufacturers.com/suppliers/
www.learnmarketing.co.uk/consumer.htm
Annexure I: History
History and Growth
40
In 1843, an enterprise businessman named Frederick Trent Stanley established a little shop in
New Britain, Connecticut to manufacture door bolts and other hardware from wrought iron.
Mr. Stanley was the first Mayor in town; he brought New Britain rail service, gas lighting and
a reservoir-fed water supply.
In 1930, Stanley invented the tape rules. Stanley tools have built nearly every home, school,
church and hospital in America. Stanley Air tools build nearly every car and truck made in
North America. Millions pass through Stanley Automatic Doors each day.
Stanley Works
41
42
43
The Legend of Stanley
44
Stanley Platforms.
A) Consumer Tools.
A world leader in the design, development and delivery of tools, Stanley brings to market the
strongest and most innovative tools available. With thousands of products on the market and
Hundreds introduced each year; Stanley develops the tools consumers need to get the job
done.
Key Brands
Stanley®, Proto®, Husky®, Vidmar®, ZAG®, MAC®, Jensen®, Contact East®, Bostitch®,
Atro®, Cobotics®, LaBounty®, Innerspace®
Product categories
Industrial hand tools and tool boxes, professional and industrial mechanics tools, electronic
diagnostic tools, pneumatic fastening tools and fasteners, hydraulic tools, shearers, breakers
and crushers.
B) Security Solutions.
An industry powerhouse with a global footprint, Stanley Security Solutions builds on
Stanley’s development of the first automatic door with integrated solutions that provide wall-
to-wall security, including doors, hardware, software and service. Stanley’s Security
Solutions protect buildings, airports and institutions all over the world.
Key Brands
Best® Access, Blick®, cj rush™, Frisco Bay™, HSM Electronic Protection Services,
Integrator.com™, ISR™ Solutions, Sargent & Greenleaf™, Safemasters®, Senior
Technologies™,
Stanley® Access Technologies, Stanley® Hardware
The Stanley Security Solutions Product Group offers a wide array of electronic security
products, mechanical security products, integration software, and installation and support
services for a diverse set of industrial, institutional, and commercial facility applications.
Electronic security, access and safety products manufactured and tested to the industry’s
highest standards for functionality and long life. Applications include schools, banks, retail
stores, hospitals, government agencies, manufacturing facilities, colleges and universities,
and utilities, to name a few.
Mechanical security products include patented keying, customized master key systems and
Quality door and lock hardware. These combine to supply customers with mechanical access
control that is cost-effective and efficient.
C) Industrial Tools
With our powerful professional tools, Stanley’s Industrial Tools Group delivers big tools for
big jobs. Recognized as leaders in Industrial Tools, our family of brands builds everything
from cars and trucks to roofs and floors.
Key Brands
Stanley®, Proto®, Husky®, Vidmar®, ZAG®, MAC®, Jensen®, Contact East®, Bostitch®,
Atro®, Cobotics®, LaBounty®, Innerspace®
45
Product categories
Industrial hand tools and tool boxes, professional and industrial mechanics tools, electronic
diagnostic tools, pneumatic fastening tools and fasteners, hydraulic tools, shearers, breakers
and Crushers.
Platforms
Awards & Recognition.

A steady stream of new and innovative products is the lifeblood of this company. In 2007,
Stanley introduced more than 100 new products, many of which have won awards for great
distinctions.
The company itself has been triumphant in winning numerous awards throughout the years
for packaging, design innovation, communication and advertising. Most recently, Stanley
won 4 Golden Hammer Awards in 2007 and also won two IDEA awards in the 2007
International Design Excellence Competition.
46
Stanley has earned it’s industry stripes over the past 160 years being chosen as “Vendor of
the Year”, “Innovator of the Year” and being included in the book “America’s Greatest
Brands.” We’re featured with the likes of Marlboro, IBM, AT&T as well as Coke.
47
2007 Golden Hammer Awards
Presented by Home Channel News, Stanley was the recipient of the following four awards at
the
2007 Golden Hammer Awards Ceremony:
 The Vendor of the Year Award.
 The Innovator of the Year Award for overall new product development in all categories.
 The Gold Golden Hammer Award for the Hand Tools category.
 The Business to Consumer Communications Award for the Alien commercial featuring
the Stanley® MaxLife™ 369™ Tripod Flashlight.
2006 Golden Hammer Awards
Stanley was the only multiple award winner at the 22nd Annual Golden Hammer Awards
Ceremony, presented by Home Channel News. The awards, based on votes from retailers and
buyers, were handed out at a ceremony in Las Vegas at the 2006 National Hardware Show.
Stanley won:
 The Gold Golden Hammer Award for the Hand Tools category.
 The Business to Consumer Communications Award for the Stanley® Sharpshooter®
Staple
Gun World's Weakest Man campaign.
The Innovator of the Year Award for overall new product development in all categories.
Both the Gold Golden Hammer for the Hand Tools category and the Business to Consumer
Communications awards are the highest awards in their category. For the Innovator of the
Year award, Stanley was voted number one in new product innovation across all 36 product
categories.
Brands Acquired.
Our innovative Consumer and Industrial products help people utilize their skills, express
their creativity and realize their visions on work sites around the globe. Brand names include
Stanley®, FatMax®, Husky®, Goldblatt®, Bostitch®, Jensen®, Mac®, Proto®, La
Bounty®, Vidmar®, CST®, David White® and ZAG®. Our Security Solutions brands
include Stanley®, Best®, Blick® and Frisco Bay®.
Stanley Black & Decker

A Powerful Legacy, A future growth with Black & Decker
(Acquisition of Black & Decker)
Two Companies with great legacy
Stanley Black & Decker
Established In 1843 By Frederick Trent Established In 1910 By S. Duncan

Stanley, Who Founded A Small Black And Alonzo G. Decker, Who
Hardware Manufacturing Shop In New Founded A Small Machine Shop In
Britain, CT Baltimore, MD
•166 Year Reputation For Product •100 Year Reputation For Product
Quality And Service Innovation And Customer Focus
•133 Years Of Consecutive Dividends •72 Years Of Consecutive Dividends
•World Class Power Tools Portfolio
48
Strategic Benefits
 A Global Leader In Hand and Power
Tools
 Iconic Brand Portfolio - Over 250
Years Of Combined History
 Greater Scale In Hand And Power
Tools & Storage, Mechanical
Security, And Engineered Fastening
 World Class Innovation Process
 Global Low Cost Sourcing And
Manufacturing Platforms
 Additional Presence In High-Growth
Emerging Markets
Financial Benefits
 $350M In Cost Synergies Annually
 Opportunity For Margin Improvement
 Free Cash Flow Of Approximately
$1.0B And Over $1.5B In EBITDA By
Year 3
 Increased Resources To Invest In
Security Solutions, Engineered
Fastening And Other High-Growth
Platforms
 Strong Balance Sheet
49
Annexure II: Stanley Products
Hand Tools
Mechanic Tools:
Spanners: This includes Ratcheting Spanners, Ratcheting Geared Spanners, Combination

Spanners Ring End Spanners, Double Open End Spanners, Adjustable Spanners, Ratcheting
Hook Spanners, Socket Spanners, and Construction Ratchet Spanners.
Figure 1: Ring end spanner, Open end spanner and Combination spanner
Sockets and Accessories: Sockets – Inch & Metric, Ratchets, Flex Handle, Spinner Handle,
Universal Joints, Adapters, Bit Adapters, Sliding T-Bars, Extension Bars, Bit Sockets,
Speeder Handles, L-Handle, and Offset handles, Impact Sockets & Accessories.
50
Figure 2: Stanley Sockets-Chrome Vanadium
Automotive Tools:
Brass Hammers, Feeler Gauge, Oil Filter Strap Spanner, Grease Guns, Stud Removers, Jaw
Pullers, Ignition Crimping Tools, Snap ring Pliers.
Pneumatic Tools:
Air Ratchets, Reversible keyless Air drill
Figure 3: Stanley Ratchet
Tool Sets:
Telecommunication Tools Sets, Do-it-all Tool Sets, Electrician Tool Sets, Auto Maintenance
Tool sets, all purpose tools sets.
Figure 4: Tool Kits
Pliers, cutting and holding tools:
Pliers: Insulated Pliers, Basic Pliers, Miniature Pliers, Locking Pliers, Automatic Wire,
Strippers, Circlip Pliers, Clamping Pliers, Orceleon Wire Stripper, Chain Grip Pliers.
Figure 5: Pliers
51
Knives and Cutters: Retractable Knives, Sports Utility Knives, Saws, Hacksaws, Hand
drills, Aviation Snips, All Purpose Snips, Wire Strippers, Bolt Cutters, Glass Cutters, Bit
Braces.
Figure 6: Mini Hacksaw
Pipe Tools
Pipe wrenches, Basin wrenches, Water Plumb Pliers, Tubing cutters, Pipe cutters, Flaring
Tools.
Figure 7: Pipe tools
Fastening Tools
Screwdrivers and Keys: Insulated screwdrivers, Basic Screwdrivers, Tank Thru

Screwdrivers, Ratcheting Screwdrivers, Multi Bit Screwdrivers, Testers, Digital Testers,
Precision Screwdrivers, Hex Keys, Torx Keys.
52
Figure 8: Screwdriver and Allen Keys (Hex Key)
Clamps, Glue Guns, Riveters, Staplers: Trigger Clamps, F-Clamps, C-Clamps, Pipe
Clamps, Parallel Bar Clamps, Heavy duty Clamps, Corner Clamps, Staplers, Heavy Duty
Staplers, Hammer Tackers, Hot Melt Glue Guns, Soldering Guns, Riveters.
Figure 9: C-Clamp
Striking and stuck Tools
Hammers: Anti Vibe Hammers, Jacketed Steed Hammer, Fiberglass Hammer, Wood Handle
Hammer, Contractor Grade Hammer, Engineering Hammer, Hickory Handle Hammers,
Compo Cast Hammers, Rubber Mallets, Soft Face Hammers, Steel Axe.
Figire 10: Ball Pein Hammer
Pry Bars, Chisels, Punches, Nails: 4 in One Fu Bars, Pry Bars, Claw bars, Wrecking Bars,
Hand Guard Chisels, Cold Chisels, wood curving Chisels, Nail sets , Punches.
53
Figure 11: The 4-in-1 Fu bar
Flashlights
Led Flashlights, Tripod Flashlights, Mini Tripod Flashlights, Aluminum Alloy Bright ,
Flashlights, Aluminum Alloy Bright , Chargeable Flashlights.
Measuring, Layout and Surveying Tools
Layout Tools: I-Beam Levels, Box Levels, Torpedo levels, Line Levels, Chalk Lines,
Roofing Squares, Try Squares, Combination Squares, Bevel Edges, Marking Gauge,
Magnetic Cast Aluminum Torpedo Level, Torpedo Level (42-294 - 8" )
Measuring and Layout Tools: Laser Distance Estimator, Laser Torpedo Level, Laser Line
Level, Laser Cross Level, Laser Level & Square, Laser Level, Cross Line Laser Level, Cross
Line Laser Level with Pole, Horizontal/ Vertical Laser Level, Multi laser Cross Level, Digital
Measuring wheel, Analog Measuring Wheel, Rotary laser.
VDE Pliers
These are pliers that are tested under 10000 electricity volts and are recommended to be used
where there is high electric voltage (recommended to be used upto 1000 volts).
Figure 12: VDE Pliers
Key Technologies and Standards
Stanley Works applies certain patented technologies in its tools that differentiate them from
competitors and puts them at a competitive advantage. Some of them are discussed here.
54
However, even before it is worth mentioning that Stanley Tools meet ANSI, ISO and DIN
standards.
ANSI – American National Institutions
ISO – International Organization for Standardization
DIN – Deutches Institute for Normung
Maxi-Drive Technology in Sockets
The Maxi-Drive technology is the registered patent of Stanley. It is the patented gripping
designed to outperform conventional drive configuration. Some of the key Advantages are:
 Reduces the chance of rounding in corners of the fasteners to extend fastener life.
 Enables to turn worn or rounded fasteners.
 Provides 15% more torque to tighten fasteners easily.
 Reduces fastener wear by minimizing contact on the outer 5% of the fastener; helping
increase life expectancy of the fastener.
 Helps reduce slipping on frozen or rusted fasteners.
 There is absolutely no difference between the printed size & the actual size.
 It allows ratcheting at an angle of 50.
Figure 13: 5 Degree angle for ratcheting
55
Figure 14:.The above picture shows the Maxi-Drive technology
Dyna Grip Technology
Figure 14: The above picture shows the patented Dyna Grip by Stanley
56
Annexure III: Literature Support
What is a Hand Tool?

A hand tool is a device or an instrument used to do a particular job that does not require a
motor, but intended for hand held operation by one individual. Virtually every type of tool
can be considered a hand tool. It provides a mechanical advantage in accomplishing a
physical task.
Examples of Hand Tools

Hand tools include anything from hammer to wrenches, to axes, pliers, screwdrivers,
punches, shears, chisels, toolboxes etc.
Materials in making Hand Tools

Hand tools are made of a wide variety of metals and wood. The common materials used in
making the blades of hand tools are:
• Iron
• Steel
• Aluminum
• Brass
• Stainless steel
• Carbon steel
• Mild steel
Types of Hand Tools
57
• Manual Hand Tools: Manual hand tools are the most basic form of equipment. They
do not require the speed of powered hand tools or do not have access to power sources
but are perfect for operations. These include hoes, screwdrivers, chisels, wedges, drift
pins, hammers etc.
• Pneumatic Hand Tools: Pneumatic hand tools perform the operation task at the push
of a lever. They are powered by compressed air. They include chippers, drills,
hammers, sanders etc.
• Power Hand Tools: Tools which are hand held but are powered by electricity. These
include chainsaws, high grade motors, electric drills, angle grinders, jigsaw cutters,
tappers, fasteners etc.
We give below a list of the various popular hand tools used for various purposes.
• Awl
• Axe/ Hatchet
• Bars
• Clamp
• Chisel
• Cutter
• Drill Bit
• Drill
• File
• Guns
• Hammers
• Mattock
• Mallet
• Planes
• Plier
• Punches
• Saws
• Screwdriver
• Shovel/ Spade
• Trowel
• Vise
• Wrenches
Hand Tool Market
58
Indian hand tools market
Estimated No. of Units in 2500

India
SSI Units 95%
Large Units 7
Estimated number of 25000
workers
Major Manufacturing Jallandhar/
regions Nagaur
Total exports in 2001-02 5215.5 million
Rs.
US hand tool market

. There are more than 1,000 firms active in the U.S. hand and power tools industry, ranging
from small, privately owned firms to major corporations like Stanley Works, Black &
Decker, Bosch, Danaher and Snap-on etc. In fact these major companies accounted for nearly
55% of the total sales in 2006.
Characteristics of the industry

· A labor Intensive Industry: A source of employment to many, hand tools industry is
basically labor intensive in nature, whose development is of great importance for a
competitive as well as a self-reliant industrial structure. The manufacturers of hand tools
produce a comprehensive range of of hand tools, right from carpentry and plumbing tools to
striking and cutting tools.
· Energy intensive industry: Apart from being a labor intensive industry, this industry is
also an energy intensive one. It is estimated in a recent study that in most economies adoption
of energy efficient processes and technologies can yield in energy savings of up to 30 to 50%.
· Effective contributor to the economy: Adding positively to the income of a country,

Hand tools industry has contributed to economy in terms of development and technology up
gradation
Consumption patterns of hand tools

This depends on the following factors:
 Price
 Supply chain dynamics
 Product quality, design and safety
 Service
 Environmental factors
Driving forces for hand tool development

Hand tools were in use since a long time and there has been a great change in the designs of
hand tools from time to time. There were many factors that led to hand tool development.
59
Workers safety & health:
This is a very important consideration in today's designing of hand tools. Hand tools should
be designed in such a way so that they reduce wear and tear on the operator. Ergonomics
hand tools have become very popular, driven by an increased emphasis on worker safety and
health.
Workers nowadays prefer tools, which reduce stress on the body and at the same time reduce
employee time loss due to job-related disabilities. Today, designers are coming up with more
comfortable grips, reducing the weight of the object, and making hand tools adjustable to
different body types.
Chemicals
When tools are designed, manufacturers consider ergonomics, performance and the
environment. Besides considering health and cleaning factors, hand tools are also produced
Nowadays using less chemicals, using less environmentally damaging products which are not
harmful to the the human body and which becomes an environment friendly product.
Eliminating the spread of germs or cross-contamination from one area to another has been a
priority for more than a decade in hand tools designing.
Microfiber
A more recent development in hand tools is microfiber. This new material is more efficient at
cleaning compared to its traditional counterparts. It is also less damaging to the environment
as it uses few or no chemicals. And because it can be laundered several times, different
microfiber cleaning cloths can be used for each area to be cleaned, thereby reducing the risk
of cross-contamination.
Same Old, Same Old

Despite new inventions in composition and designing, hand tools in original designs are still
preferred by many. As the old saying goes, the more things change, the more they stay the
same. Hand tools still are expected for many to perform in a way that is ageless. They may be
sturdier and more colorful, but their main function has never really changed. Even with new
styles and features on the market, for DIY projects, users rely on traditional tools.
Cleaning
One of the driving forces for change in hand tool has always been to make cleaning easier.
For proper functioning and durability of hand tools, it is necessary keep them clean after
usage. In most cases, the latest designs go for flexible handles which can be removed and
cleaned separately as both the handle and the tool blade are of different materials.
Hand Tools Standards

With the rapid advancement and expansion in the global trade, standardization of various
products is very necessary. The standards given to various products help in expanding
International trade which in turn bridges the quality gap between the manufacturers, suppliers
and buyers of different nations. In hand tools as well, standards play a vital role.
Standards are required in hand tools for the following reasons:
 They provide performance requirements.

 They provide safety requirements.
 Standards are available for all types of hand tools like pliers, screwdrivers, wrenches,
striking tools, torque instruments etc.
60
 These standards also include the various tests that are required to determine conformance
with the safety and performance requirements.
Introduction to Stanley Assembly Technology:

Stanley Assembly Technologies, an operating group of The Stanley Works was founded in
1963.
Originally called Stanley Air Tools, the group was renamed in 2002 to reflect the emphasis
on technology to deliver solutions of high value to customers. Assembly Technologies
headquarters are located in Highland Heights, Ohio, a suburb of Cleveland. The Stanley
Works is global corporation, headquartered in New Britain, Connecticut and has
manufacturing and distribution in all world areas. An application center is located in Troy,
Michigan. Locations in Europe include the U.K., France, Germany and Italy.
Assembly Technologies Product Group provides solutions to the global assembly market,
including the motor vehicle industry. Core solutions include high-performance DC electric
and pneumatic tightening tools and controllers, conventional pneumatic articulating arms,
torque tubes and Intelligent Assist Devices for ergonomic material handling
Tightening torque capacity ranges from 0.5 to 2000 Nm and above. Tool geometries include
straight, pistol, angle, hold & drive, crowfoot and tubenut outputs. Different levels of torque
control, fit assembly requirements ranging from the most critical, such as safety related
vehicle components to non-critical. Network systems enable plant-wide real-time assembly
monitoring including statistical charting, trace analysis, remote tool configuration and
hardware diagnostics.
With Cobotics products, Stanley Assembly Technologies leads the growing global market for
Intelligent Assist Devices (IADs). Engineered to dramatically improve the productivity,
quality and ergonomic safety of assembly operations, IADs are computer controlled, servo
powered lift assist devices that assist workers in lifting and manipulating heavy and awkward
parts. A highly skilled direct sales force works directly with major customers and supports
distributors in all world areas. Assembly Technologies sales engineers and distributors are
qualified to analyze customer applications and propose the ideal selection of assembly and
material handling components. Technical Service employees support customers from
Assembly Technologies offices and regional locations. Other services offered by Stanley
Assembly
Technologies are:
 Field service
 Training for customers’ support personnel
 Design consultation for special systems
 Maintenance programs
 Telephone support,
 Spare parts and repair,
Equipment calibration and tool system certification include:

 Auto and Light Truck Assembly
 Auto Parts and Components
 Large Truck Assembly
 Construction and Farm Machinery
 Recreational Vehicles
Products:
61
1) Thread Fastening.
i. Torque Equipment
ii. Standard Nut Runners
iii. Small QPM Tools
2) Engineered Systems
i. Articulating Arm
ii. Fixtured Tools
3) Material Handling
i. Trolley
ii. Lift
Annexure IV: Potential of the companies

Buying
potential
per year
0 to 2 2 to 5 5 lac Amount in
Companies lac lac above lac
Jabil Circuit India Pvt.
Ltd. Yes 3
kirloskar Oil Engines
Ltd. Yes 2
Nainko Exim Pvt. Ltd 0
LG Yes 3
Alfa Laval Yes 5
Montanari Lifts
Components Yes 5
Sanghvi Movers Ltd. Yes 3
Honeywell Turbo
Technologies Yes 5
Greaves Yes 2
Mather Platt Pumps ltd. Yes 8
ThyssenKrupp
Industries India Yes 10
Mailhem Engineers Pvt.
Ltd. Yes 2
62
Vanaz Engineering Yes 4
WOM India .Pvt.Ltd Yes 4
Cummins India Ltd. Yes 8
Suzler India Ltd. Yes 2
Finolex Cables Ltd Yes 3
Premier Ltd. Yes 8
Tata Bluescope Steel Yes 5
Knorr-Bremse Yes 8
KSB Pumps Yes 5
Kam-Avida Yes 2
Demag Cranes &
Components. Yes 7
Premium Yes 3
VSAS Automation Yes 2
Force Motors Yes 8
Atlas Copco Yes 6
Vulkan
Technologies.Pvt.Ltd Yes 2
TATA JOHNSON Yes 4
SKF Yes 5
Fiat India ltd Yes 5
Renu Electronics 0 0
ElectroMech-ABUS Yes 4
Indo-Schottle Yes 2
Aquapharm
Chemicals.Pvt.Ltd Yes 3
Dilip Chabria Design,
( DC) Yes 4
Thermax Yes 4
Eclipse Yes 4
Ador Welding Yes 3
TOTAL AMOUNT 163
63
Annexure V: Details of the companies visited in Pune
Details of the Company Visited

During this period of 8 weeks I visited 38 companies and met 65 End Users including
Purchase Managers.
No. Of persons
Company Name
met
Jabil Circuit India Pvt. Ltd. 1

kirloskar Oil Engines Ltd. 1
Nainko Exim Pvt. Ltd 1
LG 1
Alfa Laval 1
Montanari Lifts Components 1
Sanghvi Movers Ltd. 2
Honeywell Turbo
Technologies 1
Greaves 2
Mather Platt Pumps ltd. 1
ThyssenKrupp Industries
India 1
Mailhem Engineers Pvt. Ltd. 1
Vanaz Engineering 2
WOM India .Pvt.Ltd 2
64
Cummins India Ltd. 3
Sulzer India Ltd. 1
Finolex Cables Ltd 1
Premier Ltd. 3
Tata Bluescope Steel 2
Knorr-Bremse 2
KSB Pumps 1
Kam-Avida 2
Demag Cranes &
Components. 3
Premium 3
VSAS Automation 1
Force Motors 4
Atlas Copco 2
Vulkan Technologies.Pvt.Ltd 2
TATA JOHNSON 4
SKF 1
2
Fiat India ltd
Renu Electronics 1
ElectroMech-ABUS 1
Indo-Schottle 1
Aquapharm
Chemicals.Pvt.Ltd 1
Dilip Chabria Design, ( DC) 2
Thermax 2
Ador Welding 2
Total No. of companies- 38

Total No. of Users Visited 65
65
Som
The Customers Purchase Process
Recognizing the need

(Demand)
Developing product
specification
May ask for a product demo
Asking for Quotations from

Rejected if price not
potential suppliers
satisfactory
66
Evaluating the Vendor and the
productto
Deciding company
Purchase
Testing
Issue the
of Purchase
received Order
product
Annexure VI: Details of Factor Analysis
Factor Analysis
There are a number of techniques that can be used to assist in the decision
concerning the number of factors to retain:
What I have: A set of correlated continuous variables.

What it does: Factor analysis attempts to identify a small set of factors that represents the
underlying relationships among a group of related variables.
Assumptions:
1. Sample size. Ideally the overall sample size should be 150+ and there should be a ratio of
at least five cases for each of the variables
2. Factorability of the correlation matrix. To be considered suitable for factor analysis the
correlation matrix should show at least some correlations of r=.3 or greater. The
67
Bartlett’s test of sphericity should be statistically significant at p<.05 and the Kaiser-Meyer-
Olkin value should be .6 or above. These values are presented as part of the output from
factor analysis.
Procedure
Factor analysis involves a number of steps: assessment of the data, factor extraction and
factor rotation. To cover the SPSS procedures required for these steps, this section is divided
into two parts. In Part 1 the procedures involved in the assessment of the data and the
extraction of the factors will be presented and the output discussed. In Part 2 the additional
procedures required to rotate and to interpret the factors will be covered.
Part 1: Assessing the data and extracting the factors
The first step when performing a factor analysis is to assess the suitability of the
data for factor analysis. This involves inspecting the correlation matrix for
coefficients of .3 and above, and calculating the Kaiser-Meyer-Olkin Measure of
Sampling Adequacy (KMO) and Barlett’s Test of Sphericity. This information can
be obtained from SPSS in the same analysis as used for Factor Extraction.
The second step involves determining how many underlying factors there are in
the set of variables.
Correlation Matrix
Q D1 P1 A P C D2 M R F L D3
Correlation Q 1 0.439 -0.06 -0.102 0.207 0.377 0.452 0.284 0.222 0.098 0.034 -0.065
D1 0.439 1 -0.147 -0.047 0.213 0.302 0.39 0.108 0.064 0.055 0.082 -0.176
P1 -0.06 -0.147 1 0.072 -0.003 -0.307 -0.282 -0.078 -0.034 -0.239 0.178 0.335
A -0.102 -0.047 0.072 1 0.047 0.078 0.062 0.175 0.109 0.246 0.083 0.059
P 0.207 0.213 -0.003 0.047 1 0.096 0.247 0.235 0.173 0.22 0.045 0.001
C 0.377 0.302 -0.307 0.078 0.096 1 0.487 0.144 0.274 0.172 0.018 -0.113
D2 0.452 0.39 -0.282 0.062 0.247 0.487 1 0.416 0.318 0.385 0.057 -0.085
M 0.284 0.108 -0.078 0.175 0.235 0.144 0.416 1 0.222 0.374 -0.046 0.014
R 0.222 0.064 -0.034 0.109 0.173 0.274 0.318 0.222 1 0.449 0.317 -0.072
68
F 0.098 0.055 -0.239 0.246 0.22 0.172 0.385 0.374 0.449 1 0.212 -0.172
L 0.034 0.082 0.178 0.083 0.045 0.018 0.057 -0.046 0.317 0.212 1 0.145
D3 -0.065 -0.176 0.335 0.059 0.001 -0.113 -0.085 0.014 -0.072 -0.172 0.145 1
Q QUALITY
D1 DURABILITY
P1 PRICE
A AVAILABILITY
P PERFORMANCE
C CUSTOMIZATION
D2 DESIGN
M MAINTENANCE
R RELIABILITY
F FUNCTIONALITY
L LEAD TIME
D3 DISCOUNT
KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .703
Bartlett's Test of Sphericity Approx. Chi-Square 146.252
df 66
Sig. .000
Total Variance Explained

Extraction Sums of Squared Rotation Sums of Squared
Initial Eigenvalues Loadings Loadings
% of % of % of
Componen Varianc Cumulativ Varianc Cumulativ Varianc Cumulativ
t Total e e% Total e e% Total e e%
1 3.086 25.71 25.71 3.086 25.71 25.71 2.287 19.06 19.06
2 1.639 13.66 39.37 1.639 13.66 39.37 1.743 14.53 33.59
3 1.331 11.1 50.47 1.331 11.1 50.47 1.615 13.46 47.05
4 1.109 9.245 59.71 1.109 9.245 59.71 1.52 12.67 59.71
5
0.933 7.776 67.49
6
0.842 7.014 74.5
7
0.728 6.064 80.57
8
0.666 5.553 86.12
69
9
0.448 3.736 89.86
10
0.438 3.647 93.5
11
0.416 3.467 96.97
12
0.363 3.029 100
Analysis.
70
Component Matrixa
Component
1 2 3 4
Design .802
Customization .630
Quality .615 .492
Functionality .602 .377 -.462
Reliability .556 .427 -.360
Durability .524 -.338 .410
Performance .418 .323
Availability .484 -.315
Price -.375 .504 .517
Discount .459 .475
Lead time .572 -.609
Maintenance .550 .563
a. 4 components extracted.

Communalities
Component
Initial Extraction
1 2 3 4
Quality 1.000 .665
Quality .811
Durability 1.000 .570
Durability .740
Price 1.000 .670
Design .650 .398
Availability 1.000 .423
Customization .560 -.351
Performance 1.000 .347
Maintenance .761
Customization 1.000 .477
Functionality .607 -.352 .476
Design 1.000 .663
Availability .578
Maintenance 1.000 .671
Reliability 1.000 .630
Price .799
Functionality 1.000 .719
Discount .738
Lead time 1.000 .774
Lead time .831
Discount 1.000 .556
Reliability .706
Analysis.
71
Compo
nent 1 2 3 4
1 .724 .497 -.346 .331
2 -.347 .476 .537 .604
3 .596 -.341 .726 -.034
4 .014 .640 .255 -.724

ANTI IMAGE MATRICES
Q D1 P1 A P C D2 M R F L D3
- - - - - - -
0.63 0.12 0.01 0.01
0.19 0.08 0.04 0.12 0.10 0.11 0.06 0.05
1 5 4 1
A1 Q 2 1 1 6 6 9 9
- - - - -
0.69 0.02 0.03 0.08 - 0.13
0.19 0.00 0.11 0.05 0.12 0.06
1 7 7 5 0.11 1
D1 2 4 4 2 8
- - - - - -
0.02 0.71 - 0.15 0.08 0.13
0.08 0.10 0.02 0.06 0.12 0.18
7 3 0.05 9 8 7
P1 1 8 2 8 9 7
- - - - - -
0.12 0.87 0.00 0.01 0.01
0.00 0.10 0.10 0.10 0.14 0.01 -0.04
5 1 5 6 3
A 4 8 5 1 2 2
- - - - - - -
- 0.00 0.86 0.03 0.03
0.04 0.11 0.04 0.07 0.04 0.08 0.03
0.05 5 9 1 2
P 1 4 1 4 4 5 9
- - - - - -
0.15 0.03 0.65 0.06 0.05
0.12 0.05 0.10 0.16 0.11 0.02 0.00
9 1 1 5 1
C 6 2 5 6 8 9
D2 - - 0.08 0.01 - - 0.50 - - - 0.00 -

0.10 0.12 0.04 0.16 0.14 0.04 0.10 0.05
72
6 8 8 6 1 6 9 6 4 6 6 2
- - - - - - - -
0.03 0.06 0.69 0.12
0.11 0.02 0.10 0.07 0.14 0.02 0.14 0.06
7 5 7 5
M 9 2 1 4 6 3 8 7
- - - - - - - -
0.08 0.01 0.05
0.06 0.06 0.04 0.11 0.04 0.02 0.67 0.18 0.18
5 3 8
R 9 8 4 8 4 3 4 9
- - - - - -
0.13 0.05 0.57 0.11
0.05 0.06 0.14 0.08 0.10 0.14 0.18 0.13
7 1 6 2
F 2 5 6 8 4 4
- - - - -
0.01 - 0.03 0.00 0.12 0.78
0.12 0.01 0.02 0.18 0.13 0.13
4 0.11 2 6 5 6
L 9 2 9 4 8
- - - - - -
0.01 0.13 - 0.05 0.11 0.81
0.18 0.03 0.00 0.05 0.06 0.13
1 1 0.04 8 2 9
D3 7 9 9 2 7 8
- - - - - -
. 0.16 - 0.08 0.02 0.01
0.29 0.12 0.05 0.19 0.18 0.10
743a 9 0.18 4 1 5
A2 Q 1 1 6 7 7 6
- - - - - -
. 0.03 0.05 0.12 0.09 0.17
0.29 0.00 0.14 0.07 0.21 0.14
700a 8 4 5 5 4
D1 1 6 7 8 6 9
- - - - - - -
0.03 . 0.23 0.14 0.21
0.12 0.13 0.06 0.03 0.09 0.17 0.24
8 613a 3 5 4
P1 1 7 4 1 9 2 5
- - - - - -
0.16 . 0.00 0.02 - 0.01
0.00 0.13 0.13 0.20 0.01 0.04
9 529a 6 4 0.13 7
A 6 7 9 1 4 7
- - - - - - -
0.00 . 0.04 - 0.03
0.05 0.14 0.06 0.06 0.09 0.05 0.04
6 821a 1 0.12 8
P 6 7 4 2 6 7 6
- - - - - -
0.23 0.04 . 0.09 0.08 0.02
0.19 0.07 0.13 0.28 0.17 0.01
3 1 740a 7 3 8
C 7 8 9 7 9 2
- - - - - - - -
0.14 0.02 . 0.00
0.18 0.21 0.06 0.28 0.24 0.07 0.19 0.08
5 4 796a 9
D2 7 6 2 7 5 6 5 1
- - - - - -
- 0.05 - 0.09 . 0.16
0.03 0.09 0.24 0.03 0.23 0.08
0.18 4 0.13 7 717a 8
M 1 6 5 3 4 9
- - - - - - - -
0.12 0.01 . 0.07
0.10 0.09 0.05 0.17 0.07 0.03 0.29 0.26
5 7 723a 8
R 6 9 7 9 6 3 7 1
F 0.08 0.09 0.21 - - 0.08 - - - . - 0.16

4 5 4 0.20 0.12 3 0.19 0.23 0.29 676a 0.19 3
73
1 5 4 7 9
- - - - - -
0.02 0.03 0.02 0.00 0.16 .
0.14 0.17 0.01 0.26 0.19 0.17
1 8 8 9 8 500a
L 9 2 4 1 9 3
- - - - - - -
0.01 0.17 0.07 0.16 .
0.24 0.04 0.04 0.01 0.08 0.08 0.17
5 4 8 3 569a
D3 5 7 6 2 1 9 3
A1=Anti Image covariance

A2=Anti Image correlation
Q QUALITY
D1 DURABILITY
P1 PRICE
A AVAILABILITY
P PERFORMANCE
C CUSTOMIZATION
D2 DESIGN
M MAINTENANCE
R RELIABILITY
F FUNCTIONALITY
L LEAD TIME
D3 DISCOUNT
Step 1
In the Correlation Matrix table, look for correlation coefficients of .3 and above
You should also check that the Kaiser-Meyer-Olkin
Measure of Sampling Adequacy (KMO) value is .6 or above. The Barlett’s Test of
Sphericity value should be significant (i.e. the Sig. value should be .05 or smaller). In my
case here the KMO value is .703, and the Bartlett’s test is significant (p=.000), therefore factor
analysis is appropriate.
Step 2
To determine how many components (factors) to ‘extract’ we need to consider a
few pieces of information provided in the output. We are interested only in
components that have an eigenvalue of 1 or more. To determine how many
components meet this criterion we need to look in the Total Variance Explained
table.
74
Only the first four components recorded eigenvalues above 1, these 4
components explain a total of 59.71 per cent of the variance (see Cumulative %
column)
It is important to also look at the screeplot provided by SPSS. What we need to
look for is a change in the shape of the plot. Only components above this point
are retained.
Part 2 Factor rotation and interpretation
Once the numbers of factors have been determined, the next step is to try to
interpret them. To assist in this process the factors are ‘rotated’. This does not
change the underlying solution—rather; it presents the pattern of loadings in a
manner that is easier to interpret. 4 components will be extracted and rotated.
There are a number of different rotation techniques. Here I will use Varimax
rotation, first as the output is simpler to interpret. I will then repeat the analysis
using Oblimin rotation. This is an oblique rotational technique (which does not
assume that the factors are uncorrelated). The output from Oblimin rotation will
allow us to determine how strongly inter-correlated the factors actually are, and
therefore which of the rotational techniques is more appropriate
Varimax Rotation
Component
1 2 3 4
Quality .811
Durability .740
Design .650 .398
Maintenance .761
Functionality .607 -.352 .476
Availability .578
Price .799
Discount .738
Lead time .831
Reliability .706

75
Compo
nent 1 2 3 4
1 .724 .497 -.346 .331
2 -.347 .476 .537 .604
3 .596 -.341 .726 -.034
4 .014 .640 .255 -.724

In the Rotated Component Matrix we will see the loadings of each of the
variables on the 4 factors that were selected
As we look for the highest loading variables on each of the component—these
can be used to help you identify the nature of the underlying latent variable
represented by each component.
Main loadings on Component 1 are items Quality and Durability
The main items on Component 2 are Maintenance and Functionality
The main items on Component 3 are Price and Discount
The main items on Component 4 are Lead time and Reliability
Oblimin Rotation
Pattern Matrixa
Component
1 2 3 4
Quality .820
Durability .754
Price .799
Availability -.309 .590
Design .598 .345
Manitenance .772
Reliability -.686
Functionality .560 -.349 -.420
Leadtime -.863
Discount .743

Rotation Method: Oblimin with Kaiser Normalization.
76
Structure Matrix
Component
1 2 3 4
Quality .810
Durability .736
Price .804
Availability .561
Design .692 .474 -.314
Manitenance .331 .776
Reliability .357 -.740
Functionality .647 -.395 -.540
Leadtime -.813
Discount .735

Component Correlation Matrix
Compo
nent 1 2 3 4
1 1.000 .165 -.145 -.076
2 .165 1.000 -.058 -.188
3 -.145 -.058 1.000 .059
4 -.076 -.188 .059 1.000

Note: The outputs for Oblimin rotation are different from that of Varimax rotation
There are three main tables to consider:
Pattern Matrix, Structure Matrix and Component Correlation Matrix
77
Now I perform an Oblimin rotation for 3 factors
There are three main tables to consider:
 Pattern Matrix,
 Structure Matrix and
 Component Correlation Matrix
Pattern Matrixa Oblimin Rotation for 3 factors

Component
Component Initial Initial Initial Extraction Extraction Extraction Rotation
1 2 3
Eigenvalue Eigenvalue Eigenvalues Sums of Sums of Sums of Sums of
s s Squared Squared Squared Squared
Quality .838
Loadings Loadings Loadings Loadings
Durability .760
Total % of Cumulativ Total % of Cumulativ Total
Price Variance e % .792 Variance e%
1 Availability
3.086 25.713 25.713 3.086-.591 25.713 25.713 2.632
Performance .391
2 1.639 13.660 39.373 1.639 13.66 39.373 1.62
Customization .558
3 1.331 11.096 50.469 1.331 11.096 50.469 2.203
Design .651 -.306
4 1.109 9.245 59.714
Manitenance -.465
5 0.933
Reliability 7.776 67.49 -.629
6 0.842
Functionality 7.014 74.504 -.824
7 Leadtime
0.728 6.064 80.568.505 -.350
Discount .702
8 0.666 5.553 86.121
9 Rotation
0.448Method: Oblimin
3.736 with Kaiser
89.857Normalization.
10 Rotation converged3.647
0.438 in 14 iterations
93.504
11 0.416 3.467 96.971
12 0.363 3.029 100
Component Correlation Matrix
Compo
nent 1 2 3
1 1.000 -.103 -.224
2 -.103 1.000 -.041
3 -.224 -.041 1.000

Analysis.
Rotation Method: Oblimin with Kaiser
Normalization.
78
Structure Matrix
Component
1 2 3
Quality .802
Durability .717
Price .795
Availability -.535
Performance .418
Design .737 -.445
Manitenance .387 -.526
Reliability .332 -.677
Functionality -.817
Leadtime .511 -.389
Discount .699

Now we have to look at the Component Correlation Matrix . This shows you
the strength of the relationship between the two factors (the value is quite low,
at –.244). the correlation between the two components is quite low, so we would
expect very similar solutions from the Varimax and Oblimin rotation.
This gives us information to decide whether it was reasonable to assume that the
two components were not related. When we look at the Oblimin rotation we
need to look at both the tables, the pattern matrix and the structured matrix. Pattern Matrix, is
similar to that provided in the previous Varimax rotated solution. It shows the
factor loadings of each of the variables and can be interpreted in much the same
way
79
Annexure VII: Questionnaire
Questionnaire
Part –A
1. Name of the Company_________________________
2. What is the annual turnover of your company?

____________________________
3. What is the amount of purchase done annually?

_____________________________
Part-B
1. Are you aware of Stanley Hand tools?
Yes _________ No __________
2. If yes, then how did you come to know about Stanley?
From present vendor

From Stanley company representative
From seminars or exhibition
80
From friends or peers
Others
3. Which are the most widely used tools in your Company?

_______________________
4. Which company make hand tools do you use?
a) Taparia
b) Gadore
c) Everest
d) Jhalani
e) Cromwell
f) Others___________
5. What is the frequency of purchasing the hand tools?

___________________________
6. Which are the tools that you face problems with?

________________________
7. How would you rate your existing hand tools on the following parameters?
Parameters 1-Very 2-Important 3-Neutral 4-less 5-Least

Important Important Important
Quality
Durability
Price
Availability
Performance
Customization
Design
Maintenance
Reliability (ASS)
Functionality
Lead Time
Discount
8. What is your satisfaction level on your present Hand tools?
81
1-Excellent 2-Good 3-Neutral 4-Bad 4-Dissatisfactory
9. Who is the Decision maker while purchasing the equipments?
1) End User
2) Purchase Department
Part-C
1. Company Address_________________
2. Name of the Contact person__________________________
3. Designation_______________________
4. Contact details__________________________
~Thank You ~
82
Annexure VIII: Standards
B107 Standards
The B107 ASME series standard is given to various hand tools and accessories. The
Committee of B107 Standards operates under the American National Standards Institutes’
procedure. The B107 Committees are comprised of experts in the field of hand tools. These
standards are published by ASME after being approved by ANSI and ASME. The B107
standards on hand tools cover the complete general and dimensional data for hand tools,
including safety and other requirements.
• B107.1-1993 Socket Wrenches, Hand (Inch)
• B107.2-1995 Socket Wrenches, Extensions, Adaptors, and Universal Joints, Power

Drive (Impact) (Inch Series)
• B107.4M-1995 Driving & Spindle Ends for Portable Hand, Impact, Air, and Electric
Tools (Percussion Tools Excluded)
• B107.5M-1994 Socket Wrenches, Hand (Metric Series)
• B107.6-1994 Wrenches, Box, Angled, Open End, Combination, Flare Nut, and
Tappet (Inch Series)
• B107.8M-1996 Adjustable Wrenches
• B107.9M-1994 Wrenches, Box , Angled, Open End, Combination, Flare Nut, and
Tappet (Metric Series)
83
• B107.10M-1996 Handles and Attachments For Hand Socket Wrenches - Inch and
Metric Series
• B107.11M-1993 Pliers, Diagonal Cutting, and Nippers, End Cutting
• B107.12-1997 Nut Driver (Spin Type, Screwdriver Grip) (Inch Series)
• B107.13M-1996 Pliers - Long Nose, Long Reach
• B107.14M-1994 Hand Torque Tools
• B107.15-1993 Flat Tip and Phillips Screwdrivers
• B107.16-1998 Shears (Metal Cutting, Hand)
• B107.17M-1997 Gages, Wrench Openings, Reference
• B107.18M-1996 Pliers (Wire Twister)
• B107.19-1993 (R1998) Pliers, Retaining Ring
• 107.20-1998 Pliers (Lineman's, Iron Worker's, Gas, Glass, Fence, and Battery)
• B107.21-1998 Wrench, Crowfoot Attachments (Inch Series)
• B107.22M-1998 Electronic Cutters
• B107.23M-1997 Pliers, Multiple Position, Adjustable
• B107.25M-1996 Pliers - Performance Test Methods
• B107.27-1996 Pliers, Multiple Position (Electrical Connector)
• B107.28M-1997 Electronic Torque Instruments
• B107.29M-1998 Electronic Tester, Hand Torque Tools
• B107.31M-1997 Screwdriver, Cross Tip Gaging
• B107.34M-1997 Socket Wrenches for Spark Plugs
• B107.35M-1997 Nut Drivers (Spin Type, Screwdriver Grip) (Metric Series)
• B107.38M-1998 Electronic Pliers
• B107.41M-1997 Nail Hammers, Safety Requirements
• B107.42M-1997 Hatchets - Safety Requirements
• B107.43M-1998 Wood Splitting Wedges - Safety Requirements
• B107.44M-1998 Glaziers Chisels & Wood Chisels, Safety Requirements
84
• B107.45M-1998 Ripping Chisels and Flooring/Electricians' Chisels - Safety
Requirements
• B107.46M-1998 Stud, Screw, and Pipe Extractors - Safety Requirements
• B107.47M-1998 Metal Chisels - Safety Requirements
• B107.48M-1998 Metal Punches and Drift Pins: Safety Requirements
• B107.49M-1998 Nail Sets: Safety Requirements
• B107.50M-1998 Brick Chisels & Brick Sets: Safety Requirements
• B107.52M-1998 Nail Puller Bars - Safety Requirements
• B107.53M-1998 Ball Peen Hammers - Safety Requirements
• B107.54-2001 Heavy Striking Tools - Safety Requirements
• B107.55M-1998 Axes: Safety Requirements
• B107.56-1999 Body Repair Hammers and Dolly Blocks - Safety Requirements
• B107.57-2001 Bricklayers Hammers & Prospecting Picks - Safety Requirements
• B107.58-1998 Riveting, Scaling, Tinners Setting Hammers - Safety Requirements
85
Some formats used
Business Potential Report format
Company Information Sheet
1. Company name:
__________________________________________________________
2. Address:
_________________________________________________________________
3. Phone no:
________________________________________________________________
4. Email id:
_________________________________________________________________
5. Nature of Business: Manufacturing/Service/Both:

________________________________
6. Annual Turnover(FY2008): ________________________________________
7. Hand tools Purchase( FY2008) : _________ Products:
86
_____________________
8. Name of Key Executives
Sr Depart Name Designati Contact E Mail ID

No on No
1. Purchase
2 Maintena
nce
3 Productio
n
4 Vendor
Developm
ent
5 Quality
9. Major Supplier of Hand tools (I):

___________________________since_____________
10. Major Supplier of Hand tools (II):

__________________________since____________
11. Products explained:

_______________________________________________________
____________________________________________________________________________
12. Quotations cited for:

_______________________________________________________
13. Major Competitors :

_______________________________________________________
14. Scope for Stanley Hand Tools:

_________________________________________________________________________
_________________________________________________________________________
87
_________________________________________________________________________
Date: ________ Signatures:________________________
Place: ________ Name:

____________________________
Daily Sales Report Format
88
89

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Analysis of the Distribution Channel and

the End Customer of Stanley Hand tools

Under the guidance of

Management programme. This is his original work to the best of my knowledge.

Date:___________ Signature ________________

My heartfelt thanks to my respected Faculty Guide Prof.A.K.Biswas, Birla Institute of

The Hand Tools industry is a very labor intensive industry.

Factors to consider for the growth of the hand tool industry

Chapter II: Objective and Scope

2.1: Primary Objectives

2.2: Secondary Objectives

2.3: Scope of the Study

Chapter III: Methodology of Study

3.1: Reach of the Project

3.2: Research Plan

3.2.2: Research Approaches

Closing the sale:

3.2.3: Research Instruments

3.2.4: Sampling Plan

3.3: Collection of Data and Analysis

3.4: Findings & Recommendations

3.5: Steps Involved

3.5.1: Literature study

3.5.2: Expert opinion

3.5.3: Descriptive study

3.5.4: Scaling technique

3.5.5: Designing questionnaire

3.5.6: Deciding the sample size

3.5.7: Data collection

3.5.8: Analysis of the data collected

3.6: Plan of data analysis

Chapter IV: Industry and Company Analysis

4.1: Company Overview.

No. of Distributors for Stanley Products in India:

Stanley Hand Tools 140

Geographical reach of channels in India

India General Manager

Business Development Sales Officers

4.1.2: Authorized Dealer

Deficiency: No regional office in the city.

Some of the Competitors of Stanley Tools in Indian Markets include

Different companies were targeted so as to cover as many companies as possible divided

The locations are

The potential of the Pune market that I surveyed is Rs.1.63 crores.

5.2: Analysis of the Respondents

5.3: Awareness of Stanley in the Market

15% of the respondents are aware of Stanley Hand Tools.

5.4: Source of Information about Hand Tools

5.5: Most widely used Hand tools in the Industry

5.8: Tools that Break or don’t function properly.

Tools that frequently No. of

5.9: Result of the Factor Analysis

The results of this analysis have reduced the 12 factors to three.

Varimax rotation for 3 factor

Total Variance Explained

Total % of Cumulati Total % of Cumulati Total % of Cumulati

1 3.086 25.713 25.713 3.086 25.713 25.713 2.417 20.146 20.146

2 1.639 13.660 39.373 1.639 13.660 39.373 2.059 17.115 37.300

3 1.331 11.096 50.469 1.331 11.096 50.469 1.580 13.169 50.469

4 1.109 9.245 59.714

5 .933 7.776 67.490

6 0.842 7.014 74.504

7 0.728 6.064 80.568

8 0.666 5.553 86.121

Date:_ Signature ______