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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.
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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
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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.