REPORT

BUSINESS TO BUSINESS MARKETING

RESEARCH ON WELSET DOOORS AND PLAYWOODS
JAIN(DEEMED TO BE A UNIVERSITY)
NAME-Namith.M
usn no-19MBAR0215

INDUSTRY PROFILE
Plywood is nothing new in India. It arrived on shores of this country well before the Indian subcontinent
ridded itself of British colonialism.Post partition of the subcontinent, carpenters and interior decorators
of India depended upon imported plywood and used boards salvaged from ships.However, this changed
in the 1950s, when Indian companies ventured into the field. Today, India is a major producer and
consumer of plywood.

Types of Plywood in India:

India is home to dense forests. Hence, bamboo, teak and other trees flourish in this
country.Consequently, manufactures in India make a wide range of plywood. Further, the Indian plywood
industry has graduated from traditional boards.Now, you can also buy laminated plywood and decorative
veneers made by reputed Indian firms.

Plywood is manufactured by assembling thin layers of wood veneers bonded together using powerful
adhesives. Softwoods, hardwoods, or a combination of the two is used, such as several varieties of
maple, mahogany, oak, pine, cedar, spruce, etc., in the production of plywood for various applications.
Softwood plywood sheets are designed for installation on the exterior of a structure, whereas, hardwood
plywood is used for manufacturing furniture and other interior applications. In India, plywood is mostly
used for the manufacturing of furniture, accounting for two-thirds of the wood consumption. The latest
report by IMARC Group titled, “Indian Plywood Market: Industry Trends, Share, Size, Growth,
Opportunity and Forecast 2019-2024”, finds that the Indian plywood market reached a value of US$ 4.4
Billion in 2018, growing at a CAGR of 4.8% during 2011-2018.

COMPANY PROFILE
Welset is Flagship Company of Paras groups an ISO 9001-2008 Company, manufacturing HDF Molded
door. Molded Veneer door. Molded Veneer Door, designer veneer door. Membrane designer door. All
door are being manufactured at our state of art facility at Bangalore, using all imported raw material and
latest machinery for producing world class door.

Welset is committed to conserve our environment, so we are introducing our doors with eco-friendly
filler board. Our doors consume 50% lesser wood than any other environment door. Welset has well
established dealers network and our doors are well accepted in projects, corporate and societies. With
the urge to create something new, welset keep on introducing something new and better month on
month basis.

VARIOUS BUSINESS TO BUSINESS MARKETING STRATEGIES OF WELSET

• See: Largest addressable qualified audience with no commercial intent

• Think: Largest addressable qualified audience with some commercial intent
• Do: Largest addressable qualified audience with loads of commercial
intenCare: Current customers with two or more business transactionst
• Care: Current customers with two or more business transactions
1. Delivering on Promises
This tactic can be summed up in two words: avoid clickbait. We have all experienced the bitter
disappointment of clicking on a link that promises big and fails to deliver. This might get you clicks, but in
the long run it damages your relationship with your audience. You might not have out-and-out clickbait
on your site, but no B2B business strategies should use messaging that raises false expectations or makes
exaggerated claims.Be upfront and honest in all of your content, and avoid hype. If the title of a blog is
"10 Mind-Blowing Ways to Increase Your Business Profit," your audience will want to read fresh, new
content -- not mediocre, predictable, and run-of-the-mill content.

Last point: deliver big on your promises. Do your research and put in the hours to make your content
exceptionally valuable to your audience. This may take longer than normal -- especially if you're creating
an eBook or other long-form content. But content that adds real value to your audience pays off in terms
of engagement and thought leadership -- and ultimately leads.

2. Integrated Channels

B2B Marketing TacticsNo doubt many effective channels comprise your strategy and generate leads.
These channels include...

Content marketing

Email marketing

Social media marketing

Search engine optimization

Paid ads

Webinars/Events

As powerful as these strategies are alone, they work best if integrated. Here's a common example: You
enjoy a blog post so much that you click the CTA on the post to subscribe to the blog's newsletter.

Look for ways to guide your audience to your other channels, which ultimately strengthens people's
relationship with your brand. For example, you might encourage your blog's audience to interact with
you on social media. Or use paid ads on social media to direct people to your blog. You might even use a
webinar or live events to highlight primo content on your blog or email newsletters.
Such integration fuels powerful interactions between your audience and your brand. This makes it an
ideal marketing strategy for B2B businesses.

3. Advocacy Programs

B2B Marketing Tactics (1)Your customers are your largest resource -- and for many companies, this
resource has yet to be tapped. Take your happy customers and encourage them to take your business
relationship public.

This goes beyond testimonials or case studies, where you showcase your customer’s feedback with your
followers. This gets your brand in front of a wider audience -- as your customers share their positive
experience, their followers see that and it plants a positive seed in more people about your brand.

Create a system that rewards participants with opportunities and benefits. Search out and engage with
prospective advocates on social media. When someone puts your brand in a positive light, reach out to
thank him or her for the gesture. Even such a simple gesture will make your brand seem more human
and real to your audience.

Take this one step further by rewarding individuals who advocate for your brand. This could be through
resharing their content on social media, or offering an additional benefit, such as a freebie for fans or
followers or early access to a new product or service. When people see that you appreciate such
advocacy, they will be more likely to think of you in the future.

Don’t forget about your employees. They can be a powerful force within your marketing tactics.
Employees who sing the praises of their brand are few and far between, which makes their voices stand
out.

4. Content Marketing

Content has become a humungous part of digital marketing. The whole idea behind content marketing is
to create content (such as blogs, ebooks, and videos) that answers a deep-seated need in your audience
(question, concern, or curiosity) and earns their respect and admiration. With time, they see you as the
go-to person in your industry and want to work with your brand.

Some people balk at the idea of simply creating content as part of their B2B marketing strategy. But
consider for a moment that marketers who prioritize blogging as part of their strategy are 13X more
likely to see positive ROI. And content marketing get three times more leads than its paid alternatives.

There's no doubt in our minds that content marketing should be one of the top tactics for any company
seeking to boost its strategy.

LITERATURE REVIEW
THEORETICAL BACKGROUND OF THE STUDY

PEST Analysis

PEST analysis is an important tool used to provide an overview of those macroenvironmental factors that
should be taken into consideration while determining the

overall business environment in the long-term. (Cameron, 2008). The basic framework

of this analysis includes four different macro-environmental factors:

Political environment

It includes all those factors that are related to the government participation in various

areas of the local economy. The political trends and government stability are also

important. Some political factors related to trade include tax policy, trade restrictions

and trade tariffs. Factors that involve legislation can be employment laws and consumer

protection as well as those environmental, competitive and industry regulations. In

addition to these factors, governmental leadership and government structures can also

be considered.

Economic environment

It involves all those factors that affect company operations and decisions. As such,

economic growth trends and rates related to exchange, interest and inflation can also

be included. Additionally, the government spending level, as well as the disposable

income and consumer purchasing power, are part of this list. Finally, regarding

development, foreign trade and foreign investments are also important economic

factors.

Social environment

The primary examples of social environment are related to demographics such as age

distribution, population growth, family size, gender and race. Social factors can explain

the limitations of the Indian society. For this purpose, it is possible to analyse different

cultural aspects like housing trends, lifestyle changes or living standards. Furthermore,

the social environment can be used to describe the consumer needs based on elements

associated with education and leisure activities, like attitudes to work, occupations, and

earning capacity. Finally, other factors such as diversity and immigration can also be

considered.

Technical environment

Many considerations can be included among the factors related to technology. Thus, it

is possible to analyse either the technology has a positive impact on technological

incentives, the rate of technological change or manufacturing advances or adverse

consequences due to rates of obsolescence or lack of information-technology. However,

inventions or research and development (R&D) are some of the factors that can be used

to assess ecological and environmental aspects (e.g. recycling) that influence the

societies

Indian Plywood Demand Model

Demand models for forest wood products have been tested by different authors based

on economy theories. For this study, the demand model is based on Buongiorno et al.

(1979) approach for forest wood products that considerers consumption demand. This

author also has developed the demand model as a derived demand model (Chou and

Buongiorno 1982, Buongiorno 1996, Chas-Amil and Buongiorno 2000, Buongiorno et al.

2003, Hetemäki et al. 2004, Hänninen et al. 2007a, Hurmekoski et al. 2015).

Nevertheless, in this study, the demand model does not consider consumption demand

but import demand due to a significance level of the data.

The time-series model will analyse the collection of secondary data used in this study.

Koutsoyiannis (1977) suggests that this method accounts that data were taken over a

period might have an internal structure that should be considered. In addition to this,

time-series models contribute to understanding the common elements of Indian

imports of plywood. Thus, the demand model will be based on the time-series analysis

of yearly data collected from India in the period from 1990 to 2015, where possible. For

some variables, the data might not be available. The application of time-series models

for the analysis of secondary data also shows some difficulties. In some cases, timeseries models not
always show stationarity in the data. Additionally, data frequently

show a slight variability in the observations when they are expressed over long time

periods. Other difficulties refer to high collinearity between explanatory variables. In

such cases, it is not possible to measure all over the years of consistent economic

growth. The reason is that it might cause uncertainty while estimating structural

coefficients accurately. (Buongiorno 1979). In this research, the short period of annual

observations (1900 to 2015), is consider already as a source of uncertainty.

In consequence, following Buongiorno’s approach (1979), this research considers the

classic double-logarithmic formula as demand equation for the general time-series

model:
log IMPt = a + b log GDPCt + c log DPPt + ut (Eq. 5.3.A)

+-

Where IMPt is the Indian Import demand of Plywood in year t; GDPCt refers to India’s

Gross Domestic Product per Capita in year t; while DPP is the Indian Domestic Price of

Plywood based on import unit price per quantity in year t; and finally, ut is an error term.

Other coefficients such as a, b, c represent the constant term, the income elasticity of

demand and the price elasticity of demand, respectively. Per Labys (1973), there is no

explicitly in the formulation of this model. Therefore, it can be considered static. It is

also important to highlight the symbols positive (+) and negative (-) under each

coefficient. These symbols determine the expected signs of each coefficient estimated

based on the economy theory. In consequence, Indian imports of plywood are supposed

to be influenced positively by an increment in the variable GDPC that represents the

Indian consumer income; meanwhile, it is expected that the imports of plywood in India

will decline every time there is a rise in the price of Indian imports of plywood.

There are consumption models establish for forest wood products that based on the

concept of derived demand. Klemperer (2003) suggests that forest wood products are

regularly associated with particular elements related to economic activity. In this case,

price and income. Based on this assumption, the research defines the model of imports

of plywood in India as a base for the econometric analysis as follows:

IMP = f(GDPC, DPP) (Eq. 5.3.B)

Where GDPC represents the Gross Domestic Product per Capita and DPP refers to the

Domestic Price of Plywood based on import unit price per quantity. Per Kangas and

Baudin (2003) as well as Hurmekoski et al. (2015), the reason for using a per capita scale

for the GDP contributes to homogenise the data considering the size of the market.

In addition to the above mentioned, other authors have tested different probable

drivers to assess the plywood demand. This research considers Kangas and Baudin

(2003), Klemperer (2003), Virtanen (2005) and Hänninen et al. (2007b) as sources for

variables that can be tested to determine the Indian import demand for plywood.

However, Hurmekoski et al. (2015), approaches that income and price variables can be
replaced or complemented by other equivalent variables that represent economic

activity. For this reason, a considerable number of variables determining demand were

tested in this research. All of them suggested and tested in previous literature.

Consequently, this study considers, for the analysis of the empirical model, only those

explanatory variables that show to be significant after being tested. Thus, following

Hurmekoski’s (2015) ad hoc model, the explanatory variables are defined as:

IMP = f(GDPC, UE, EO, POPD, DPP, DPIR, DPMDF)

Where GDPC represents Gross Domestic Product per Capita; UE refers to

Unemployment; EO is Economic Openness; POPD is Population Density; DPP is Domestic

Price of Plywood based on import unit price per quantity; DPIR is Domestic Price of

Industrial Roundwood (raw material) based on import unit price per quantity; and

DPMDF is Domestic Price of Medium-Density Fibreboard (substitute) based on import

unit price per quantity (Virtanen 2005, Hurmekoski et al. 2015).

RESEARCH METHODOLY
COMPANY NAME-WELLSET DOORS
NATURE OF DATE-PRIMARY DATA -Data used in research originally obtained through the direct
efforts of the researcher through surveys, interviews and direct observation. Primary data is more costly
to obtain than secondary data, which is obtained through published sources, but it is also more current
and more relevant to the research project

QUESTIONIARE
• IS MARKETING IMPORTANT IN YOUR INDUSTRY?
ANS-YES, marketing is very important in your indusrty as it drives sales growth.
• WHY IS IT IMPORTANT?
ANS-it is important in order to attract new coustomer and retain existing ones.
• WHAT ARE THE VARIOUS BUSINESS TO BUSINESS MARKETING STRATEGIES
USED BY THE COMPANY?
• ANS-
• DISPLAY ADVERTISING
• EVENT MARKETING
• AFFILIATES, TESTIMONIALS, AWARDS, PARTNERSHIPS
• CAN YOU GIVE A OVERVIEW OF THOSE STRATEGIES?
ANS-
DISPLAY ADVERTISEMENT-Digital display advertising is graphic advertising on Internet websites,
apps or social media through banners or other advertising formats made of text, images, flash, video,
and audio. The main purpose of display advertising is to deliver general advertisements and brand
messages to site visitors.

EVENT MARKETING-Event marketing is a promotional strategy that involves face-to-face contact

between companies and their customers at special events like concerts, fairs, and sporting events.
Brands use event marketing entertainment (like shows, contests, or parties) to reach consumers through
direct hand-to-hand sampling or interactive displays. The practice works because it engages consumers
while they’re in a willing, participatory position. (See also Field Marketing)

According to a 2012 study by the Event Marketing Institute:

58% of event marketing participants purchased the marketed product after the event 86%
of these consumers became regular customers

A successful event marketing campaign provides value to attendees beyond information about a product
or service. A discount, free sample, charity alignment, or fun event will make customers feel like they are
receiving a benefit and not just attending a live-action commercial.

In contrast to traditional advertising, which blasts millions of consumers with the same general
television, radio or billboard message, event marketing targets specific individuals or groups at gathering
spots, in hopes of making quality individual impressions.

The key to pulling off an effective event marketing campaign is to identify the target audience correctly
and create an experience that remains in participants’ memories. By finding an opportunity to interact
with the right demographic of people – both current customers and prospective buyers – a brand can
build favorable impressions and long-lasting relationships. The best, most creative events create
interactions that not only reflect positively on the brand at the time, but generate a buzz long after the
event is over. (See also Buzz Marketing)

AFFILIATES, TESTIMONIALS, AWARDS, PARTNERSHIPS

Some marketing strategies help tip iffy prospects into becoming solid leads and sales. Creating authority
builders is one of them. And when it comes to authority, everybody who knows anything about business
gets that it’s not so much what you know, it’s who you know. One testimonial, award, or affiliation can
do the same amount of work as 20 white papers and blogs.

• WHATS YOUR MARKETING BUDGET FOR THE YEAR 2019?

ANS-Your marketing budget for the year was about 1.2cr
OBJECTIVE OF THE RESAERCH
The main objective is to learn the needs for b2b marketing and various b2b marketing techniques used
by company.and their marketing budget allocation

ANALYSIS AND INTERPRETATION OF DATA-By analizing the primary collected data we can
determine the following-

business to business marketing is essential for the plywood and door manufacturer ,it is important to in
order to attract new customers and retain existing once ,

The various marketing strategies used by the company are

• display advertising

• event adversting

• AFFILIATES, TESTIMONIALS, AWARDS, PARTNERSHIPS

their marketing budget is 1.2cr rupees for the year 2019,allocation are

• 60% to AFFILIATES, TESTIMONIALS, AWARDS, PARTNERSHIPS

• 30% to event adversting

• 10% to display advertising

CONCLUSION-we have gained a massive amount of praticle knownledge and know now while
conducting the research , we also gained valuable insight abou the plywood and door manufacturing
distribution and marketing.we also agained insight about the plywood and dooor indusrty
overiew,competition and challenges it faceses.

BIBLOGRAPHY-http://www.welsetdoor.com/index.html