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SURVEY REGARDING SEMI FINISHED AND FINISHED GOODS
Posted Date: 07 Sep 2008 Resource Type: Articles/Knowledge Sharing Category: Education
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Posted By: Punnoose K.Wilson Member Level: Diamond
Rating:  Points: 2
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SURVEY REGARDING SEMI FINISHED AND FINISHED GOODS
INTRODUCTION
In this project we take some finished and semi finished products which are packed and have brand names from a whole sale shop. The products which taken are the following- Incense Stick, Biscuits, Tooth paste, Toilet soap, Rice, Flour, Tea, Milk Powder, Match box, Dish wash bar and Pens.
We take some brand names of this product category. We take the companies which are manufactured this products and classify the Multi National Company and Domestic Company
Following are the explanations of some words, which are very essential for this project.
PRODUCT
By the term product or commodity we mean any goods produced for sale in the market. A product that is not for sale in the market, doesn’t come under the term commodity. In this sense food prepared in the home for consumption is not a commodity while the food prepared by a hotel for sale is commodity.
Products may be finished products, semi finished products and may be involve raw material.
Finished goods are those used for final consumption by the customers.
Eg. Soap, Tooth Paste….etc.
Semi finished goods are those goods, which are used for making other or finished goods.
Eg: Tyres used for making vehicles.
Raw materials are used for making semi finished and finished goods.
Eg. Iron (Steel) used for making vehicles.
The product is the most visible element of the marketing mix. Product means what a seller sells and what a buyer buys. Products can be defined as anything that can be offered to a market to satisfy a want or need.
But product from marketing point of view includes anything that can be offered to the customer to satisfy his need. Product from the manufacturing standpoint means a complex combination of various parts. A product is a source of financial, social, psychological benefit or utilities.
There are different type of products. The products which are taken here for this project is physical good. There may be other products such as services, experiences, places, ideas and information.
NON-DURABLE GOODS
These are consumed in one or few uses. They are consumed fast and bought frequently like soap, tooth paste. The goods here are also non-durable goods.
BRAND NAME
Branding can be defined as a process of using a name, term, symbol or design individually or in some combination to identify a product.
Brands help the customers by making their shopping easier. Brands simplify their buying effort.
Branding has its origin when cattle and wine merchants used to put marks on their merchandise in order to distinguish their from those of others.
Following are important branding strategies;
INDIVIDUAL BRANDING
In this strategy the firm uses a separate brand name for each product. The greatest advantage of this strategy is that the firm is able to create distinct image for each of its products however, this is a costly strategy to follow.
BLANKET FAMILY
In this strategy the firm uses one brand name for all of its products. This is a very simple and economical strategy. By following an established name the product get instant recognition and meaning.
Separate family brand name: Some companies tend to follow different brand names for each class of their product. But is products are classified in different families and brand names are given to each family.
Company name combined with individual name: Bajaj follows this policy. It promotes scooters, motor cycles like Bajaj Chetak, Bajaj Sunny etc. This strategy tries to combine the advantage of corporate and individual branding strategy.
MANUFACTURING COMPANY
The company which is manufactured the product is concerned with the manufactured company.
A company is a voluntary association of persons formed for some common purpose. It may be formed with the purpose of carrying one some business for profit or carrying on some social or charitable activity without profit motive. On registration it will acquire an artificial legal personality which is distinct from its members. It will also have perpetual succession.
A company as “an association of many persons who contribute money or money’s worth to a common stock and employ it in some trade or business, and who share the profit and loss (as the case may be) arising therefrom”.
On the basis of ownership companies are classified into three.
1. Private company
2. Public company
3. Government company
1. Private company
It means a company be its Articles of Association restricts rights of its members to transfer its shares if any, limits the number of its members to fifty and prohibits any invitation to the public to subscribe for any shares in or debentures of the company.
2. Public company
Puts no restrictions on the right of members to transfer their shares, does not limit the number of members to fifty and is free to make an invitation to the general public to subscribe its shares and debentures.
3. Government company
A Government company is a company in which not less than 51% of the paid up share capital is held by central Government or any state Government(s) or jointly by the central and state Governments.
Domestic company
Domestic company is those compares which are made by the nations and registered in their domestic place. The domestic companies are maintained by only single company they are not under the control of other nations.
Multi national companies
These are every big companies. They formed by combining two or more nations. They known as in one single name and this company is under the control of each whose they have licence MNC is the company which had procured a licence to carryout business in more than that nations which had given the licence.
see the attachment below for more details
 Attachments
page (36280-71045-Project PRODUCT.doc)
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