Aashit Agarwal

B.Com (H)II Year

2017-18

REGIONAL COLLEGE
OF PROFESSIONAL STUDIES & RESEARCH
Affiliated to MJP Rohilkhand University, Bareilly

Pilibhit Bypass, BAREILLY (UP)

PROJECT ON

CEAT TYRE
(TITLE OF PROJECT)

(LOGO OF PROJECT COMPANY)

2016-2017

SUBMITTED BY:

AASHIT AGARWAL

B.COM. (HONOURS) – II Year.

 Aashit Agarwal
B.Com (H)II Year
2017-18

REGIONAL COLLEGE
OF PROFESSIONAL STUDIES & RESEARCH
Affiliated to MJP Rohilkhand University, Bareilly
Pilibhit Bypass, BAREILLY (UP)

CERTIFICATE
THIS IS TO CERTIFY THAT THE PROJECT TITLED

“CEAT TYRE”
(Title of Project)
HAS BEEN PREPARED BY

Aashit Agarewal
AS PER REQUIREMENT OF CURRICULUM OF B.COM. (HONOURS)- II Year.
THIS WORK IS AS PER GUIDELINES LAID OUT FOR THE SAME AND IS WORTHY OF APPROVAL.

Signature of Panel of Teachers

Dr. Anjali Chaudhary
Dr. Priya Verma
Miss Surya Lata
 Aashit Agarwal
B.Com (H)II Year
2017-18

REGIONAL COLLEGE
OF PROFESSIONAL STUDIES & RESEARCH
Affiliated to MJP Rohilkhand University, Bareilly

Pilibhit Bypass, BAREILLY (UP)

ACKNOWLEDGEMENT
I AM EXTREMELY THANKFUL TO ALL THOSE WHO HAVE HELPED ME IN COMPLETION OF MY

PROJECT TITLED

“CEAT TYRE”.

MY PROJECT WOULD NOT HAVE COMPLETED WITHOUT THE ENCOURAGEMENT, GUIDANCE

AND MOTIVATION PROVIDED TO ME BY Dr. Anjali Chaudhary, Dr. Priya Verma and
Miss Surya Lata mam. LASTLY, I WOULD THANK ALMIGHTY GOD FOR GIVING ME
COURAGE, WILL AND INTELLIGENCE TO COMPLETE THIS WORK.

Aashit Agarwal

B.Com. (Hons)

II Year
 Aashit Agarwal
B.Com (H)II Year
2017-18

EXECUTIVE SUMMARY
Private banking is a concept which is new and fast emerging in the world of banking where

changes have become a necessity in order for banks to survive in this competitive environment

vis-à-vis not only from the public and private sector banks but also from the foreign banks. The

objective of the research is to explore the various products, which a private banker deals into

and the systematic process involved to match client requirements with the right kind of

product.

Through this research one of the main objectives is to explore the reason why most of the

banks are injecting private banking as business profile to their set of service offerings.

Though private banking evolved in late 80’s in Asia, in India its not more than 5 years old. ICICI

started it in Aug 2002 and since then it has been a remarkable success. Today there are

enormous solutions to cater client needs but what suits best to a client is where private banking

fits in. Every client will have different needs, liking and preferences. So a customized portfolio

for every client is the need of the day.

This research will highlight more on the product portfolio of ICICI Private Banking, how they

have changed or innovatively structured to be attractive and competitive.

 Aashit Agarwal
B.Com (H)II Year
2017-18

CHAPTER 1

RESEARCH METHODOLOGY
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B.Com (H)II Year
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RESEARCH METHODOLOGY

Every project work requires research, successful completion of any project and getting the

genuine results from that depends upon the research method used by the researcher. The

whole research process used by us is as follows:-

1. Problem Formulation

2. Research design

3 Sample design

4. Source of data

(a) Primary source of data

(b) Secondary source of data

(c) Collection of data

(d) Analysis of data

(e) Interpretation of data

(f) Project report and writing

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Research

Research can be defined as a careful investigation or inquiry especially through search

for new facts in any branch of knowledge. Redman and Mory defines research as a

systematized effort to gain new knowledge.

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B.Com (H)II Year
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CHAPTER 2

INTRODUCTION
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INTRODUCTION

Ceat Ltd, a part of the RPG Goenka group, is the second largest tyre manufacturer in the

country after MRF. Ceat manufactures truck & bus, passenger car, scooter and LCV tyres. The

company is a dominant player in the truck & bus and passenger car tyre segments with a

market share of 14% and 17% respectively. In FY2000,Ceat did well to posting a 21%yoy sales

growth in the replacement market for truck & bus tyres. It is presently focusing on catering to

the fast growing passenger car and two-wheeler industry. Towards this, it is commissioning a

new radialtyre factory in June 2000.Industry basicsTyre industry is capital intensive and as

capacities come in spurts, it leads toconstant demand-supply imbalances and consequent

cyclicality in prices. Variable cost is also very high, with raw materials forming nearly 70% of the

costs. Profit margins are therefore thin. Production process is technology intensive andglobally

huge sums are invested in R&D. Tyre demand is a derived demand, dependent on the auto

industry, both for OEM and replacement market. The major segmentsare Truck & Bus (T&B)

tyres and car tyres. Value share of T&B segment is about73%. This segment is highly

competitive and margins are typically lower than inthe car tyres segment. Replacement market

forms the largest segment (about 58%),followed by OEM (about 22%). Export accounts for

about 15%. With global demandslowing down, there is a consolidation of capacities through

mergers etc. The domestic tyre industry broadly mirrors the market characteristics of the global

industry. However, due to rough road conditions, the more rugged, suitable and cheaper cross

ply tyres are in vogue. Consumption of natural rubber is, therefore,proportionately higher. The

government has decided to impose 10% safeguard dutyon carbon black and hiking benchmark

prices of natural rubber (25-30% of sales)in February 1999. Its impact was felt only to an extent
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as prices of these commodities are ruling at historical lows in the global market.Ceat is part of

the RPG group, which is diversified, with presence in major sectors like power, fertilizers,

pharmaceuticals, tyres, computer, telecom, financial services etc. The group stumbled trying to

grow via diverse platforms and hasmany companies that have turned sick. But lately the

strategy seems to be one ofrestructuring and consolidation. The group is divided into 4 broad

areas - rubber & allied products, power, electronics & telecom and chemicals. Ceat’s

investments in its subsidiaries have also come down this fiscal which is a sign of prudence on

the management. BUSINESS DESCRIPTIONCeat is a manufacturing company, which produces

rubber, tire, nylon fabric products, nylon tire yarn, glass fiber, automotive flaps, filament mats

and other rubber products for the automotive markets in India. The company has a well

established research and development center that evaluates the application and development

of new raw materials, compounds and tire sizes. It produces tires for two and three wheeled

vehicles, passenger cars, LCVs, trucks and buses. Ceat exports to almost 50 countries, with the

US being the largest destination.The company also provides investment financial services

through Meteoric Industrial Finance and Atlantic Holdings. Automotive tire sales account for

around 90%of revenues, automotive tubes account for about 8% and the remaining revenues

come from other non-core operations.The company is pursuing a strategic initiative of

intensifying outsourcing to expand its product range and increase production volumes. Ceat has

an agreement with Pirelli of Italy for outsourcing radial tires which are being marketed

underthe CEAT Spider Radials brand name.

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CEAT INDIACeat Limited is a manufacturer of tires in India. Automotive tires comprise

thelargest part of the Company

s revenue, however it also produces tire flaps, rubber tubing and nylon thread. The Company

also offers financial services through Ceat Financial Services Limited, including hire purchase,

office equipment finance, container and equipment/infrastructure leasing and money market

operations.HistoryCEAT stands for Cavi Electrici Affini Torino (Electrical Cables and Allied

Products of Turin).CEAT International was first established in 1924 at Turino in Italy and

manufactured cables for telephones and railways.In 1958, CEAT came to India, and CEAT Tyres

of India Ltd was established in collaboration with the TATA Group.In 1982, the RPG Group took

over CEAT Tyres of India, and in 1990, renamed the company CEAT Ltd.
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B.Com (H)II Year
2017-18

CHAPTER 3

ORGANIZATION STRUCTURE
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ORGANIZATION STRUCTURE

Type Public
(BSE: 500878)

Industry Tyres & Tubes

Founded 1924

Founders Virginio Bruni Tedeschi

Headquarters Worli, Mumbai, India

Key people Harsh Goenka (Chairman)

Anant Goenka (MD)

Revenue ₹63,765
million(US$990 million) (FY
2016–17)[1]

Net income ₹3,627

million(US$57 million) (FY
2013–14)[1]

Number of ~8,000
employees

Website www.ceat.in
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CHAPTER 4

PRODUCT RANGE
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PRODUCT

CEAT manufactures tyres for various customer radials for Indian vehicles and caters to various

user vehicle segments including

 Heavy-duty Trucks and Buses

 Light Commercial Vehicles

 Earth movers

 Forklifts

 Tractors

 Trailers

 Cars

 SUVs

 Motorcycles and Scooters

 Auto-rickshaws
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CHAPTER 5

PLANT LOCATION
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PLANT LOCATION

BRAND NAME

CEAT TYRE

REGISTERED OFFICE

463 Dr Annie Besant Road, Worli, Mumbai,

Maharashtra-400030 Phone : 91-22-24930621

Fax : 91-22-66606039

E-mail : investors@ceat.in

Web : http://www.ceattyres.in
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B.Com (H)II Year
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CHAPTER 6

MARKET SHARE
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MARKET SHARE OF ICICI BANK

MARKET SHARE

CEAT TYRE has about 20% of the local truck and light truck tyre market.

It had 11% market share in 2016 of Indian tyre industry.

It had 12% market share in 2017 of Indian tyre industry.

MARKET SEGMENT

There are many segments in which CEAT Limited entered. These are as under:

Commercial segment i.e. Trucks, Buses

Passenger car segment i.e. Cars, Jeep

Specialty segment i.e. Earthmovers & Forklifts

Farm segment i.e. Tractor & Trailers

Motorcycles, Auto rickshaws etc.

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CHAPTER 7

MARKETING STRATEGIES
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MARKETING STRATEGIES

Marketing is the basic reason for the existence of a business organization. In the age of fast

changes, Marketing is the spring board of all activities. The success of a business depends

largely on the effectiveness with its marketing strategy are formulated & implemented.

Marketing is said to be the eyes &ears of a business organization.

Because it keep the business in close contact with its economic, political, social & technological

environment & informs it of events that can influence its activities as per requirements of the

market.

Thus, the marketing department has a key role in the company.

In common parlance, Marketing is process of selling something at shop or market place, but

according to modern marketing concepts selling is not an important part of marketing but it is

only a tip at marketing iceberg. The aim of the marketing for any of the company is to make

their sales superfluous.

Marketing occupies an important position in any organization. Traditional viewpoint was that

the customer would accept whatever product the seller presented to him. However, according

to Modern viewpoint is to focus on the consumer needswants. Marketing deals with

identifying and meeting consumer needs. One of the shortest definitions of marketing is

“Meeting Needs Profitability” producer does not produce what they like but produce what

the consumer wants.

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IMPORTANCE OF DEPARTMENT IN ORGANIZATION

For a successful business it is important that marketing plays a pivotal role. Marketing

department is one of the most important components of a business’s survival in the market.

The main aims of the marketing department revolve around understanding the customers and

their needs. Marketing activities involve designing, promoting, pricing a product according to

the needs of the market and customers.

Today the competition is gradually increasing with the increase in customers’ expectations and

needs. The aim of the marketing department is to ensure that the changing requirements of the

customers are well understood and product or service is developed or altered to meet these

requirements. Customers’ buying decision is influenced by various factors just as product

features, price, quality packaging, and prompt delivery and after sales support. The aim of

marketing department is to ensure that all these criteria are met and customers are satisfied.

Marketing department aims to work towards finding out the present and future needs of the

customers. In order to anticipate future needs, proper analysis of customer trends should be

undertaken. In order to gain a competitive advantage it is necessary that the firm has the

capability to develop new products quickly.

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MARKETING OF THE PAST AND PRESENT

Traditional experts view on marketing is a very narrow sense. According to them “Marketing is

a performance of business activity that direct the flow of goods and services from producers to

consumer”. Hence, traditional concept is product oriented and it neglects the importance of

social responsibility and after sales service.

But in today’s world marketing mix “The process of discovery and translating consumer

needs and wants into product specifications, creation demand and services, and then turn

expanding the demand”. In short it includes all those activities which are under taken to

fulfill the consumer needs and wants.

In today’s world business unit follow societal marketing concept which calls upon marketer

to build social ethical consideration into their marketing factors they balance between profit,

consumers want, satisfaction and public interest.

ADVERTISING

“Advertising is any paid form of non-personal presentation and promotion of ideas, goods and

services by an identified sponsor.”

The word advertising is derived from a Latin word ‘advertere’, which means turn attention

towards a specific thing.

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Advertisement is a form of mass communication. Advertisement presents message about

product availability in the market. It is general term used for any and all types of publicity.

Company is done advertising by the regional News paper, Television, magazine and poster.
 Aashit Agarwal
B.Com (H)II Year
2017-18

CHAPTER 8

COMPETITOR
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COMPETITORS

Today’s world is full of competitors. It is very difficult to survive in this

competitive world. Competition increases very fast in any business. Competition is
very important for the development of the economy and country.

COMPETITORS OF CEAT TYRE

 MRF

 Apollo Tyres

 Balkrishna Inds.

 Goodyear India

 JK Tyres & Inds.

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B.Com (H)II Year
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CHAPTER 9

DATA ANALYSIS
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DATA ANALYSIS
1. Which Brand of Tyres you use in Lug Pattern ?

Company Name No. of Respondents

Ceat 60

J.K. 35

MRF 25

Birla 20

Others 10

Brand of Tyres you use in Lug Pattern

5%
10% 30%
13%

17% 25%

Apollo MRF J.K. Ceat Birla Others

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2. Which Brand you use in RIB Pattern ?

Company Name No. of Respondents

CEAT 60

J.K. 35

MRF 25

Birla 20

Others 10

Brand of Tyres you use in Rib Pattern

5%
10% 30%
13%

17% 25%

Apollo MRF J.K. Ceat Birla Others

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3. In case of Ceat, rank the following ?

Company Name Ranking Percentage

Quality 1 52%

Mileage 2 25%

Retred ability 3 10%

Claim Settlement 4 8%

Price 5 5%
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4. In case of other Brand what is the reason for choosing other brand ?

Reason No. of Respondents

Price Sensitivity 65

Mileage 55

Service (after sale) 45

Credit 35

In case of other Brand what is the reason for

choosing other brand

18%
Price Sensitivity
32%
23% Mileage

Service (after sale)

27% Credit
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Have you heard 2 days "Claim Samadhan" by Ceat?

No. of Respondents

yes 150

No 50

heard 2 days "Claim Samadhan" by Apollo

25%
Yes
75% No
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Your Purchase on :

No. of Respondents

Cash 50

Credit 50

Both 100

Your Purchase on

25%
Cash
50%
25% Credit
Both
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Does Company's Dealer help in choosing the Brand as per your requirement ?

No. of Respondents

Yes 50

No 100

Both 50

Company's Dealer help in choosing the Brand

25% 25%
Yes
No
50%
Both
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5. Following table shows Market share of different company in Bareilly.

Company Name Sales Tyres %

MRF 104 52%

MRF 50 25%

J.K. 20 10%

Ceat 16 8%

Birla 10 5%

Total 200 100%

Market share of different company in Muzaffarpur

5%
8%

25% 52%
10%

Apollo J.K. MRF Birla Ceat

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MARKET SHARE OF AS PER FITTMENT SURVEY

Company Name Fitted Tyres % Share

MRF 200 50%

MRF 98 24.50%

J.K. 35 8.75%

Ceat 19 5%

Birla 18 4.50%

Other 30 7.50%

Total 400 100%

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 Aashit Agarwal
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MARKET SHARE AS PER FITTMENT SURVEY IN LOCAL MARKET FOR LUG

Company Name LUG % Share in lug tyres

CEAT 100 50%

MRF 50 25%

J.K. 20 10%

Birla 10 5%

Other 10 5%

Total 200 100%

LUG

5% 5%
5%

10% Apollo
50% MRF
J.K.
Ceat
25% Birla
Other
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MARKET SHARE AS PER FITTMENT SURVEYIN LOCAL MARKET FOR RIB

TYRE

Company Name RIB % Share in lug tyres

CEAT 100 50%

MRF 48 24%

J.K. 15 7.5%

Ceat 9 4.5%

Birla 8 4%

Other 20 10%

Total 200 100%

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RIB

4% 10%

5%

7% Apollo
50% MRF
J.K.
Ceat
24% Birla
Other
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B.Com (H)II Year
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CHAPTER 10

FINDINGS
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FINDINGS

 is found in survey that 24 % of the respondents are not satisfied with the product quality.

 It is observed that only 18 % of the respondents are dissatisfied for the after sales service.

 It is observed from the survey that many of your consumers want to shift over to MRF

(52%), Ceat (10%), TVS (10%), Modi (8%), and 4% to Good year.

 24% and 76% of the respondents are dissatisfied with the re-treading and mileage

performance of J K TYRES.

 It is found in the survey that most of the respondents are getting information about the JK

Tyres products through the Television (34 %) and Newspaper (36%).

 In the survey it came to know that most of the respondents have come to know about the

JK Tyres from more than 5 years, it is clear that the JK tyres company has been taking steps

to give information about its products.

 It is observed through the survey that only 16 % of the respondents are cost conscious, and

64 % of the respondents are quality conscious they prefer only because of quality and

durability.

 It is found in the survey that 40 % of the respondents switching to this brand because of re-

treading and 24% are because of performance.

 While purchasing tyres 42% of the respondents consider quality. 36% of the respondents

consider durability ofcourse price is also major important they don’t worry about this much

more.
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 Purchasing of tyres frequently is depends upon the how they use vehicles and the weight

they carry, more than 50% of the respondentspurchase once in a year.

 More than 44 % of the respondents preferred service of the monthly camp for quick

knowledge.

 It is observed in the survey that more than 64% of the respondents satisfied with the

design, and 76% of the respondents satisfied with the out look and style of the tyres.

 Company is not encouraging credit basis of selling the products.

 Regarding pricing when compared with the other competitors pride of this product,

respondents are happy with the price of the JK tyres because quality and price are equal.

 More than 58 % of the respondents have accepted this brand only because they are getting

major advantages form this brand.

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B.Com (H)II Year
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CHAPTER 11

LIMITATIONS
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B.Com (H)II Year
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LIMITATION

In Summer Project this study has some limitations when I joined the company that time DM

was too much busy with his own assignments as it was the period where market was witnessing

a lot dynamic changes like :-

(i) Unusual price increase like 8-10% in last 3 months.

(ii) All of a sudden under load restriction was imposed by the Govt. of Bihar e.g. Golden

Card (which was a govt. authorized taken for overload) was withdrawn for transporters.

Under these circumstances or critical situations I face difficulties which may affect my report

directly or indirectly.
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B.Com (H)II Year
2017-18

CHAPTER 12

RECOMMENDATIONS & SUGGESTIONS

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B.Com (H)II Year
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RECOMMENDATION AND SUGGESTION

The suggestions from the consumers to the tyre company are following.

 Some consumer are unsatisfied with the price because competitors product price are

less than MRF, So company should pay attention in their mind on price.

 Company should provide more mileage of tyres because overloading has been imposed

by the government.

 Company should provide credit facility because customer demands this type of facility.

 The problem of MRF consumers are lack of adequate promotional schemes. Dealers

don't provide adequate information in the support of the MRF brands. They see their

margin of profit alone.

 Some schemes should be provided by company. It is good technique for sales

promotions.

 Company should give special attention after sales service of their customers.
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B.Com (H)II Year
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CHAPTER 13

CONCLUSION
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B.Com (H)II Year
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CONCLUSION

After conducting six weeks survey at Bareilly I have reached these conclusion.

 Ceat tyre is the market leader in the LCV&SCV segment followed by Ceat, J.K., Birls,

Ceat.

 MRF Tyre brand XT-7 and Amar are market leader at Bareilly Urban and Rural Area.

 XT-7 is Lug tyres and Amar RIB tyres, Most of the customers are satisfied with the

performance of both tyres.

 Approx 70% customers have positive and 30% customers have negative attitude in

support of preference of Ceat tyre at Bareilly.

 Customer's awareness level is better at Bareilly area.

 Ceat Tyre is the first tyre company which has launched new scheme to solve the claim

within 2 days.

 Most of the customers are unsatisfied with this scheme. Because dealers do not provide

them this type of facility at their disposal.

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B.Com (H)II Year
2017-18

BIBLOIGRAPHY
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B.Com (H)II Year
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BIBLIOGRAPHY

Marketing Management - Kotler Philip

Statistical Investigation - Gupta B.N.

Monitoring the competition - Leonard. M. Fuld

Consumer behavior and action - Assel Henry

Magazines and Reports

Business World

Business India

Advertising Marketing

www.Ceattyres.com