Customer Satisfaction towards the Energypac Engineering Ltd
1. Introduction
In Bangladesh the Engineering sector is one of the most developed hi-tech sectors which are contributing in the country’s economy. The professional knowledge, thoughts and innovative ideas of the Engineering professionals working in this sector are the key factors for this development. Due to recent development of this sector it is exporting and importing Engineering product to global market including European market. This sector is also providing 97% of the total product requirement of the local market. Leading Engineering companies are expanding their business with the aim to expand export market. Recently few new industries have been established with high tech equipments and professionals which will enhance the strength of this sector.
1.1 Significance
All the information, which is included in this report, will help the management to identify various scopes and limitations of the company. It is specially focuses on customer satisfaction. So the management of the company can take decisions regarding the improvement of the company. Besides, it was a great opportunity for me to get familiar with the system.
Objectives
The study seeks to achieve the following objectives:
1.1.1 Broad Objectives
· The broad objective of this report is to identify and analyze the Customer Satisfaction Towards The Energypac Engineering Ltd.
1.1.2 Specific Objectives
· To identify Customer Satisfactions Towards The Energypac Engineering Ltd.
· To analyze the factors which is related to customer satisfaction of these products?
· To identify the customer satisfaction related to these products.
· To analyze the customer satisfaction related to marketing mix.
· To analyze strength, weakness, opportunity, threat of Energypac Engineering Ltd & also some suggestion of improvement.
1.2 Methodology
1.2.1 Type of Research
While preparing the report, data have been taken information from the following sources:
1.2.2 Sources of Data
1.2.2.1 Primary
· Personal Interview with the company officers.
· Talking informally with the general customers.
· Observation of the customers.
· Practical Deskwork.
1.2.2.2 Secondary
· Different types of brochures of Energypac Engineering Ltd.
· Different files and documents of Energypac Engineering Ltd.
· Internee report.
· www.Energypac –bd.com
· www.google.com
1.2.3 Data Collection Procedure
1.2.3.1 Secondary
Secondary data has been collected through the discussion session with the officials and their given documents about the company and their business activities. In order to collect secondary data we also used official website, annual report of the company and other web sites.
1.2.3.2 Primary
A structured questionnaire has been prepared in order to collect primary data for the analysis part of the report. For collect primary data we went to different company. we also observed the behavior of customers.
1.2.4 Questionnaire
For collecting primary data two different questionnaires was constructed to carry on the sample survey. Both closed and open ended questions are used in the Questionnaire.
1.2.5 Sampling Plan
1.2.5.1 Population
For questionnaire the population is customers.
1.2.5.2 Sample Element
The sample element is customers.
1.2.5.3 Sample Frame
Because of company’s secrecy no structured sample frame has been found.
1.2.5.4 Sampling Procedure
Non-probability judgmental sampling procedure has been used in the survey.
1.2.5.5 Sample Size
The sample size of this survey is 50.
1.2.6 Data Analysis and Reporting
Statistical tools and computer software are used for data analysis and reporting. Different tables and graphs were used to make the data meaningful.
1.6 Limitations of the Report
There are some limitations that I faced to conducting the report. These are:
· The first limitation is time.
· It is very difficult to collect data.
· It is very difficult to collect the information from various officers and customers.
· Sometimes organization does not provide any information because of their own secrecy.
· Sufficient data, materials are not available.
· Lack of customer cooperation.
2. Overview of the Company
2.1 Background
ENERGYPAC ENGINEERING LTD is an ISO 9001:2008 and 14000:2004 certified companies. Energypac enhances the business of its customers by providing them with complete solutions. While creating better and environmentally compatible technologies, Energypac focuses on the customer’s demand with appropriate products and solutions as well as services.
Energypac is one of the leading power engineering companies in Bangladesh. Continual research and development, state of the art production facility, quality products, competent services, and countrywide operations have made it warmly acceptable to the customers. Energypac was incorporated in 1982 as a private limited business enterprise. It is powered by 1200 skilled manpower of which 150 are graduated engineers. The relentless efforts and dedication of these people are providing continual help to improve technology to innovate and develop new products, just in time delivery, pre and post sales services to maintain a long term business relationship with the customers. To meet countrywide demand of its products and services, Energypac has extensive distribution network throughout Bangladesh with full-fledged offices in the major cities like Chittagong, Khulna, Rajshahi, Sylhet, and Bogura. In an effort to introduce its products globally, Energypac has established its offices in India, and China. Energypac has already experienced its products and service supply to India, Yemen, Ghana, Sudan, Uganda, Nigeria, Saudi Arabia, and United Kingdom. |
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2.2 Vision, Mission & Strategy
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2.3 Organogram (Head Office)
Board of Director |
Chairman / MD |
Director |
Computer Section |
Administration |
Accounts |
Sales A/C & Distribution |
Purchasing & Procurement |
Marketing & Sales |
Chief Accountant |
Accountant Cashier |
Manager Procurement & Purchase |
Admin Officer |
Purchase Officer |
Sales Account Executive |
Manager Regulatory Affairs |
Guard
Cook Office Asst. |
IT Officer |
Sr. Computer Operator |
Operator |
Sales A/C Officer |
Delivery Asst. |
Store Accounts |
Driver |
Deport A/C |
Store Keeper |
Sales Manager |
Divisional Sales Manager |
Asst. Sales Manager |
Regional Sales Manager |
Zonal Manager |
Area Manager |
Field Manager |
Asst. Field Manager |
Senior MPO |
MPO |
SR |
Figure 1: Organogram (Head Office)
Organogram (Works)
Director Operation |
Q.A. Manager |
Sr. Q.A. Officer |
Q.A. Officer |
Plant Manager |
Production Dept. |
Accounts & Admin. Dept. |
Procurement Dept. |
Maintenance Dept. |
Store Dept. |
Sr. Production Officer Production Officer |
Asst. Production Officer |
Operator |
Worker |
Cleaner |
Production & Procurement Co-ordinator |
Asst. Engineer |
Electrician |
Store in Charge |
Storekeeper |
Porter |
Asst. Storekeeper |
Administrative Manager |
Security Officer |
Security Guard |
Custom and VAT Officer |
Figure 2: Organogram (Plant)
2.4 Marketing Mix
Product
Product is the goods and services that a company offered to the target market. Energypac Engineering Limited presets a wide range of products and services for its valued customers. Apart from our standard offerings, we provide our clients customized offers suitable to their demands.
Our Products: Our illustrative product range includes the manufacturing, marketing and powering with complete solutions or as per customer demand. All of our products are manufactured at controlled environment following international standards like IEC, BS, and ANSI. Our range of products can be broadly categorized as:
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o Protection and Automation | ||||||||||||||||||
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o Spare Parts |
Price
It is the amount of money customers have to pay to obtain the products. In terms of MLL customers have to pay a certain amount of money for buying products. The overall price of products is tolerable for customers.
Place
Company activities that make the product available to the target customers.
Head Office
Jiban Bima Tower(11th fl),10 Dilkusha C/A,Dhaka-1000,Bangladesh
Phone: +880-2-7174101, Fax: 880-2-956-3728
Mobile: 01713147068
E-mail: Selim876@yahoo.com
Website: www.energypac-bd.com
Works:
Baruipara, Saver, Dhaka
Promotion
Activities that communicate the merits of the product and persuade target customers to buy it.
Advertising Promotion:
- Print and Broadcast Advertising
- Brochures
Sales Promotion:
- Gifts
- Remuneration
Publicity & Public Relation:
- Annual Reports
- Publications
2.5 Marketing Channels and Networks | ||||||||||||||
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2.6 E-Care
Energypac considers environmentally intelligent practices as an organizational priority
to provide products and services which contribute to the advancement of the society. Energypac has had long-standing corporate policies of providing a safe and healthful work place, protecting the environment, and conserving energy and natural resources. Activity Guidelines…….
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2.7 Achievements and Awards | |||||||||||||||
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2.8 Type Test and Certifications | ||||||||||||||||||||||||||||
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2.9 SWOT Analysis
Strength
- Near about 1200 experience & trained people working here.
- Efficiency and effectiveness of the employees.
- Large product range.
- Varieties of product.
- Competitive price.
- Good distribution channel.
- Own transportation system.
- Formal training program for new employee.
Weakness
- Lack of development program for existing employees.
- Sales persons are not properly knowledgeable.
- Promotional offer are not attractive enough.
- Lack of monitoring system about customers’ satisfaction level.
Opportunity
- Attractive promotional offers can be effective to increase sales.
- Introduce more quality full product for capture new market.
- Opportunity to capture the foreign market.
Threat
· Existing strong competitors.
· New entry of competitors.
· Lack of promotional activities for the customers.
· Need to modernize the training program.
3. Theoretical Aspects
Marketing
Marketing is the process by which individual and groups obtain what they need and want through exchanging and creating value with others.
Marketing Management
The art and science of choosing target markets and building profitable relationships with them.
Market
The set of all actual and potential buyers of a product.
Marketing Research
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Marketing Offering
Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
Production Concept
The idea that consumers will favor products that are available and highly affordable.
Product Concept
The idea that consumers will favor products that offers the most quality, performance and features.
Selling Concept
The idea that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort.
Marketing Concept
The marketing management philosophy that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.
Societal Marketing Concept
A principle of enlightened marketing that holds that a company may should make good marketing decisions by considering consumers want, the company’s requirements, consumers’ long-run interests and society’s long-run interests.
Marketing Strategy
Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered on the key concept that customer satisfaction is the main goal. It is a business strategy to learn more and more about customer behavior in order to create long term and sustainable relationship with them.
Target Market
A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy. The target market and the marketing mix variables of product, place (distribution), promotion and price are the two elements of a marketing mix strategy that determine the success of a product in the marketplace.
In achieving business goal organization has to identify their target customers groups to which they provide the products. For this, organization screen out their potential customers group through-
- Market Segmentation – The process of dividing a market into distinct groups of buyers who have distinct needs, characteristics or behavior and who might require separate products or market mixes.
- Target Marketing – The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.
- Market Positioning – Products distinctive and desirable place in the minds of target segments compared to competing products.
Once these distinct customers have been defined, a marketing mix strategy of product, price, place and promotion can be built by the business to satisfy the target market.
Marketing Mix
Some tactical marketing tools – product, price, place and promotion that the firm blends to create response it wants in the target market.
Figure 3: Marketing Mix
· Product – A tangible object that is mass produced or manufactured on a large scale with a specific volume of units which a company offers to the target market.
· Price – The price is the amount a customer pays for the product.
· Place – Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store.
· Promotion – Promotion represents all of the communications that a marketer may use in the marketplace to persuade target customers to buy it.
Marketing Mix of The Energypac Engineering Ltd:
Product
Those are the product company offers to the target market
Our Products: Our illustrative product range includes the manufacturing, marketing and powering with complete solutions or as per customer demand. All of our products are manufactured at controlled environment following international standards like IEC, BS, and ANSI. Our range of products can be broadly categorized as:
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Price
It is the amount of money customers have to pay to obtain the products. In terms of MLL customers have to pay a certain amount of money for buying products. The overall price of products is tolerable for customers.
Place
Company activities that make the product available to the target customers.
Head Office
Jiban Bima Tower(11th fl),10 Dilkusha C/A,Dhaka-1000,Bangladesh
Phone: +880-2-7174101, Fax: 880-2-956-3728
Mobile:01713147068
E-mail: mahedi876@yahoo.com
Website: www.energypac-bd.com
Works:
Baruipara, Saver, Dhaka
Promotion
Activities that communicate the merits of the product and persuade target customers
to buy it.
Advertising Promotion:
- Print and Broadcast Advertising
- Brochures
Sales Promotion:
- Gifts
- Remuneration
Publicity & Public Relation:
- Annual Reports
- Publications
4. Analysis and Findings
Analysis the data from Customers point of view:
· The company’s product regarding quality is good:
Figure 4: Product Regarding Quality is good
From the above figure, it is seen that 76% customers are strongly agreed, 14% customers are agreed, 8% customers are neither agreed nor disagreed and 2% customers are disagreed that the company’s product regarding quality is good.
It is good news for the company that most of the customers are strongly agreed for quality full product. So the company should try to maintain this situation in future.
· The company’s response to query is superior:
Figure 5: Response to Query is Superior
From the above figure, it is seen that 82% customers are strongly agreed, 14% customers are agreed and 4% customers are neither agreed nor disagreed that the company’s response to query is superior.
So most of the customers are strongly agreed that the company’s response to query is superior.
· The company’s firmness of commitment to maintain delivery schedule is excellent:
Figure 6: Maintain Delivery Schedule is Excellent
From the above figure, it is seen that 74% customers are strongly agreed, 14% customers are agreed, 8% customers are neither agreed nor disagreed and 4% customers are disagreed that the company’s firmness of commitment to maintain delivery schedule is excellent.
Here most of the customers are strongly agreed that the company’s firmness of commitment to maintain delivery schedule is excellent. But some of customers are not happy about the delivery schedule. So the company tries to overcome this situation in future.
· The company’s price responsibilities of product is reasonable:
Figure 7: Price of Product is Reasonable
From the above figure, it is seen that 80% customers are strongly agreed, 12% customers are agreed, 6% customers are neither agreed nor disagreed and 2% customers are disagreed that the company’s price responsibilities of product is reasonable.
So the price of the product is reasonable and most of the customers are strongly agreed.
· The company’s motive for customers satisfaction is healthier:
Figure 8: Motive for Customer Satisfaction is Healthier
From the above figure, it is seen that 86% customers are strongly agreed, 6% customers are agreed, 6% customers are neither agreed nor disagreed and 2% customers are disagrees that the company’s motive for customer satisfaction is healthier.
It is superior for the company that most of the customers are strongly agreed that the company have healthier customer satisfaction.
· The company’s attitude to introduce time needed products for better service is good:
Figure 9: Introduce Time Needed Products for Better Service is Good
From the above figure, it is seen that 86% customers are strongly agreed, 8% customers are agreed and 6% customers are neither agreed nor disagreed that the company’s attitude to introduce time needed products for better service is good.
Here most of the customers are strongly agreed that the company introduce time needed products for better service is good. So the company tries to maintain this in future and introduce more quality full products for better customer service.
· Energypac Engineering Ltd. should advertise more:
Figure 10: Energypac Engineering Ltd. Should Advertise More
From the above figure, it is seen that out of 50 customers, 39 customers says yes and 11 customers says no that Energypac Engineering Ltd. should advertise more.
So the company has to advertise more and take attractive promotional activities to catch the attention of the target market.
· If yes, which type of media do you prefer most?
Figure 11: Which Type of Media do you Prefer Most
From the above figure, it is seen that 9 customers says TV, 6 customers says newspaper, 22 customers says promotional activities and 2 customers says billboard for advertising.
· Satisfied with the attitude of employees of Energypac Engineering Ltd.:
Figure 12: Satisfied with the Attitude of Employees of Energypac Engineering Ltd.
From the above figure, it is seen that out of 50 customers, 32 customers are extremely satisfied, 9 customers are somewhat satisfied, 4 customers are neither satisfied nor dissatisfied and 5 customers are somewhat dissatisfied about the attitude of employees of Energypac Engineering Ltd.
So the attitude of employees of Energypac Engineering Ltd. is highly accepted by the customers.
· Face any problem in receiving product:
Figure 13: Face any Problem in Receiving Product
From the above figure, it is seen that out of 50 customers, 7 customers says yes and 43 customers says no for facing any problem in receiving product.
So the company’s distribution channel is pretty much good.
5. Major Findings
After analyzing the overall performance of Energypac Engineering L, I have identified some sort of issues which are given in below:
- Most of the customers are strongly agreed for quality full product.
- Most of the customers are strongly agreed that the company’s response to query is superior.
- Most of the customers are strongly agreed that the company’s firmness of commitment to maintain delivery schedule is excellent.
- Some customers are not happy about the delivery schedule.
- The price of the product is reasonable and most of the customers are strongly agreed.
- Most of the customers are strongly agreed that the company have healthier customer satisfaction.
- Most of the customers are strongly agreed that the company introduce time needed products for better service is good.
- Company has its own transportation system.
- Company’s distribution channel is good.
- There is lack of promotional activities of Energypac Engineering Ltd.
- By the behavior of the employees customers are very much satisfied.
· All employees of Energypac Engineering Ltd. are efficient and responsive.
- Energypac Engineering Ltd. is very much committed to their customers.
- Energypac Engineering Ltd. should offer better compensation plan for employee motivation.
6. Conclusion
In a competitive world, business organization expects to increase the quality and customer satisfaction and obtain customers more loyalty to the firm. These are keys to lead the market. The understanding of what drives the customer to be more loyal is the crucial element of all. The objective of this report is to identify customer satisfaction.
Energypac is an ISO 9001:2008 and 14000:2004 certified company. Energypac enhances the business of its customers by providing them with complete solutions. While creating better and environmentally compatible technologies, Energypac focuses on the customer’s demand with appropriate products and solutions as well as services. Time to time they are offering different types of product based on demand of customers. They always try to satisfy their customers with their products. To satisfy their customer they introduce new products according to target market’s demand. They also have some special incentives for specified performance, which is encouraging for the employees. From customer satisfaction analysis I found, almost all customers are satisfied about Energypac Engineering Ltd. The employees are also satisfied with Energypac Engineering Ltd. This is very important for a company to achieve employee satisfaction and make a path to achieve customer satisfaction. The customers of this company are highly satisfied for product, price, distribution channel and other things that the company serves them.
7. Recommendation
Energypac Engineering Ltd. has an efficient and excellent management team and performing with a great expertise and care. The limitations can be overcome by some measures to make the performance outstanding. I have some suggestions for Energypac Engineering Ltd. resulting from my observations out of my survey. Those are given below:
- Introduce more high quality full product.
- Try to maintain the delivery schedule.
- Develop the distribution channel.
- Training program should be developed.
- Company should give more emphasis on training program to make the employees more expert.
- Achieve customer relationship management.
- The employees must be smart and energetic to serve the customers efficiently.
- Adopt new technology for production.
- Need for excellent advertising support.
- Increase promotional activities for growth and expansion.
- Introduce more sales deport.
8. Bibliography
Book Reference
· Principles of Marketing- 12th Edition- Philip Kotler.
· Marketing Management- 12th Edition- Philip Kotler.
Net Reference
· www.Energypac-bd.com
· Wikipedia.
· Customer Satisfaction and Loyalty.
· Other Internship Report.
· Different files and documents of Energypac Engineering Ltd.
9. Annexure
Raw Tables
· The company’s product regarding quality is good:
Strongly Agree | Agree | Neither Agree nor Disagree | Disagree | Strongly Disagree |
76% | 14% | 8% | 2% | 0% |
· The company’s response to query is superior:
Strongly Agree | Agree | Neither Agree nor Disagree | Disagree | Strongly Disagree |
82% | 14% | 4% | 0% | 0% |
· The company’s firmness of commitment to maintain delivery schedule is excellent:
Strongly Agree | Agree | Neither Agree nor Disagree | Disagree | Strongly Disagree |
74% | 14% | 8% | 4% | 0% |
· The company’s price responsibilities of product is reasonable:
Strongly Agree | Agree | Neither Agree nor Disagree | Disagree | Strongly Disagree |
80% | 12% | 6% | 2% | 0% |
· The company’s motive for customer satisfaction is healthier:
Strongly Agree | Agree | Neither Agree nor Disagree | Disagree | Strongly Disagree |
86% | 6% | 6% | 2% | 0% |
· The company’s attitude to introduce time needed products for better service is good:
Strongly Agree | Agree | Neither Agree nor Disagree | Disagree | Strongly Disagree |
86% | 8% | 6% | 0% | 0% |
· Energypac Engineering Ltd. should advertise more:
Yes | No |
39 | 11 |
· If yes, which type of media do you prefer most?
TV | Newspaper | Promotional Activities | Billboards |
9 | 6 | 22 | 2 |
· Satisfied with the attitude of employees of Energypac Engineering Ltd.:
Extremely Satisfied | Somewhat Satisfied | Neither Satisfied nor Dissatisfied | Somewhat Dissatisfied | Extremely Dissatisfied |
32 | 9 | 4 | 5 | 0 |
Questionnaire
Section A: Personal Information
- Name :
- Occupation :
- Sex : Male Female
- Contact No. :
- Average Income (In Month) : Tk. 0 – 5000
Tk. 5000 – 10000
Tk. 10000 – 15000
Tk. 15000 – 20000
Section B:
- Do you like this company’s product?
q Yes
q No
- If yes, then go to section C.
- If no, then go to se