Project Synopsis_Mohd Faraz (1)

8/8/2019 Project Synopsis_Mohd Faraz (1)

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Summer Internship Project Report Synopsis

Stanley Works Hand Tools Division 1

Summer Internship Project

Report Synopsis

Stanley Works Hand Tools

Mohd FarazKhan

FORE School ofManagement


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Table of Contents

About Stanley Works 3The Stanley Black and Decker Merger 4About Stanley Black and Decker 5About Stanley Works India Ltd 6

Project Details 7

Pro ect Ob ective 8The project highlights:The project action plan as a sales executiveThe project considerationsThe Stanley Distribution chain

uestionnaire formulation 11The questionnaire objectivesStatistical tools to be usedThe Sample size

Project Limitations 12


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About Stanley Works

The Stanley Works, originally a bolt and door hardware manufacturingcompany located in New Britain, Connecticut; was founded in 1843 byFrederick T. Stanley. A few years later, in 1857, Fredericks cousin, HenryStanley, founded The Stanley Rule and Level Company. In 1920, The Ruleand Level Company merged with The Stanley Works and would go on tobecome its famous Hand Tools Division.

Over the years, The Stanley Works has produced some of the mostinnovative and useful tools ever made. Among these tools are the

Bailey Plane, the Surform shaper, the PowerLock tape rule and mostrecently the FatMax line of products. Today, more than ever, Stanleycontinues to be an industry leader in tool innovation.

In 2001, Stanley introduced more than 100 new products, bringing to 400the number of new products introduced in the past four years. As a directresult of Stanleys commitment to excellence, Stanley was awarded thePrestigious Golden Hammer Award, presented for New Product Innovationin both 2000 and 2001.

Whether you're a retailer looking for the best quality products to offeryour customers, or a skilled end-user looking for the best tools, Stanley ishere to serve you.

Stanley is proud of its reputation for excellence. We are dedicated tocontinually testing, designing and improving our products to ensurequality and maximum function. Maintaining our standing of being theworld's best at what we do is important to us and what you expect from aname like Stanley.

The Online Catalog brings you the latest information on our broad rangeof products. Here, you will find high quality images and detaileddescriptions of the following:

Specialty/ergonomically designed hand tools Pro line of tools made of extra durable materials tough enough for

the job site An assortment of products for the home mechanic and homeowner.
http://www.stanleytools.com/default.asp?TYPE=CATEGORY&CATEGORY=HAND+TOOLShttp://www.stanleytools.com/default.asp?TYPE=CATEGORY&CATEGORY=HAND+TOOLS


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Stanley Black and Decker Merger

Stanley is thrilled about this transaction as it brings together two great

companies with some of the worlds most iconic brands, including their

DeWalt, Baldwin, Porter-Cable, Kwikset, along with many others making

us even stronger and more competitive, broadening our offering to our

customers, creating a compelling investment for our shareholders and

increasing the opportunities that will be available for employees.

With BLUE JAYs strength in power tools and hardware products and SEAHAWKs market-leading offerings in hand tools and mechanical and

electronic security solutions, we have a unique opportunity to solidify our

sector leadership while continuing to increase our investment in and grow

our engineered security solutions business.

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About Stanley Black and Decker:

When you trace it all the way back, it comes down to three individuals:

Frederick Stanley, Duncan Black, and Alonzo Decker. Three passionate

individuals who built powerful companies that they were so proud they

put their names on them.

Hundreds of years later, were proud to continue their legacies and wereproud to carry their names forward.

In 1843, Frederick Stanley started a small shop in New Britain,

Connecticut, to manufacture bolts, hinges, and other hardware from

wrought iron. With superior quality, consistent innovation, and rigorous

operational improvement, Stanleys company defined excellence, and so

did his products.

In 1910, S. Duncan Black and Alonzo G. Decker started their shop, similar

in size at first, in Baltimore, Maryland. Six years later they changed the

world by obtaining the worlds first patent for a portable power tool, and

the company they built has been changing the world ever since.

Both companies grew in parallel over the ensuing decades, amassing an

unparalleled family of brands and products and an even more impressive

wealth of industry expertise.

In 2010, the two companies combined to form Stanley Black & Decker, to

deliver the tools and solutions that industrial companies, professionals,and consumers count on to be successful when it really matters.

Just as it was in 1843, our passion for excellence is seen around the world

in our disciplined operations, purposeful business growth, and loyal

customer relationships.


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About Stanley Works India Ltd.:

Stanley Works is a 166 year old company and is a worldwide

manufacturer and marketer of hand tools, hardware and specialty

hardware for industrial & professional use.

Stanley India, a fully owned subsidiary of Stanley Works, has its head

quarters in Delhi. It started its operations in the year 2007. It (Stanley

India) imports its own products manufactured in different countries (like

China, Taiwan, United States, etc) and sell them in the Indian chain of

distributors.

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 (in the year 2006-

07) and it is in the process of launching more. Presently Stanley India is

focusing on industrial tools and hardware business in India. Some valuedcustomers of Stanley India are Tata Motors, Airtel, Nokia, Mahindra etc.

The Key Brands:

Stanley, Proto, Vidmar, ZAG, MAC, Jensen, Contact East, Bostitch, Atro, Cobotics, LaBounty, Innerspace


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Project Details

Project Location : Bhopal

Project Tenure : April 6, 2010 to June 6, 2010

8 weeks

Project Mentor : Mr. Avi Bhatia

Sales Officer, MP and Rajasthan division

Phone No: +91 9302078578

Email Id: [email protected]

Project Profile : Sales and Marketing

Hand tools division(Stanley and

FACOM)

Summer Internship Project Report SynopsisStanley Works Hand Tools Division 7
mailto::%[email protected]::%[email protected]::%[email protected]


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Project Objective

Themain objective of the project is to:

Understand the various sales and distribution

logistics of the Stanley hand tools in Bhopal.

The project highlights:

1. To be on field as a sales executive of Stanley India Limited,basically involving Business to Business transactions:

o Envisaging in making a headway into the following industries

BHEL

HEG

Crompton Greaves LTD.

Eicher tractors

Bhaskar industries

2. Envisage brand promotion and development in and around

the Bhopal by educating the various interested parties.

o Conducting seminars in various companies for brand

promotion.

o To promote products in new industries in Mandideep and BHEL

regions.

3. Making sales deals involving quotations and price

negotiations with the customers.

o This process involves in depth knowledge about the product

pricing and the maximum base discount that can be offered.

o A close association with the dealers of Stanley so that the

best discounts can be offered to the Stanley customers.


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4. Understanding how important a parameter Price is when it

comes to deciding the procurement of brands.

o Undertaking a dealer and customer survey with a set

questionnaire and using the various statistical tools coming

down to accurate findings.

5. Proving the company with suggestions and recommendations

about the right way forward so that the sales of Stanley

can be improved in the Region.

The project action plan as a sales executive:

BHEL The various Automobile showrooms and workshops in and around

the Bhopal. With added emphasis on the showrooms of,

Volkswagen, Maruti, HERO Honda and Toyota.

Additional responsibility to promote the products in new industriesin the Mandideep Industrial Areas.

The project involves the following considerations:

Adept knowledge about the vivid product port folio of Stanley Handtools

Also, in depth information about the products in Proto and FACOMtools.

Since, Stanley follows a distribution pattern such that, all the billingand invoicing is done by the local dealers, a vivid interaction with

the dealers of Stanley products is required.


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Questionnaire formulation

The questionnaire is formed with the following objectives:

1. Understanding product awareness of the customers when it comes

to the Stanley products.

2. Understanding the viability of prices as Stanley is at least twice in

price when compared to its nearest competitors.

3. To understand the customer expectations from the Stanley

products.

4. Understanding the perspective of the stockiest of Stanley products

(dealers and distributors).

5. To understand an ideal sales strategy for Stanley (B2B sales model

in addition to it the incorporation of B2C sales and the opening of

Showrooms in the city).

Statistical tools to be used:

1. Factor Analysis

2. Simulation

3. Hypothesis testing

The Sample size:

1. Around 25 customers (existing and new)

2. The existing 4 dealers

3. 5 dealers of other competitors.


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Project Limitations

The project has the following limitations:

1. The project is restricted to only to Bhopal.

2. Stanley India Ltd is yet to make huge inroads into the Bhopal.

Hence, the findings of the project may not be very definitive of

the exact performance of Stanley products elsewhere in the country.

Documents

Project Synopsis_Mohd Faraz (1)