SUMMER INTERNSHIP PROJECT ON

MARKETING DEPARTMENT OF
Undertaken at

AN INSTRUMENTS PVTLTD AT VAPI

Submitted in partial fulfilment of the requirement for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

BATCH (2022-24)

Submitted by AN INSTRUMENTS PVT.LTD

Jay Lalwani MR. Mukti Prasad

MBA Semester III Director of Company
2206142000646

Under the Guidance of

Mrs. Aparna Hawaldar
Assistant Professor

PARUL UNIVERSITY
FACULTY OF MANAGEMENT STUDIES
P.O. Limda, Tal. Waghodia, District Vadodara – 391760
 Declaration

I, Jay Lalwani, Enrolment No. 2206142000646 from PIET MBA, Semester II of

the Parul University, Vadodara hereby declare that the Summer Internship
Report on Marketing Department entitled summer internship at AN
instruments PVT. Ltd is an original work and the same has not been submitted
to any other Institute for the award of any other degree.

Date: Signature of the Student

 INSTITUTE CERTIFICATE

It is hereby certified that Mr. Jay Lalwani, 2206142000646 has submitted

the Summer Internship Project Titled in partial fulfillment of Master of
Business Administration PIET at Faculty of Management Studies – MBA,
Parul University, Vadodara, Gujarat.

The internship was carried out at AN Instruments PVT.LTD from

22/05/2023 to 07/07/2023. The report submitted is satisfactorily
meeting all laid out criteria.

Date:

Signature of the Guide Signature

Mrs. Aparna Hawaldar Dr. Bijal Zaveri
Assistant Professor Dean and Director
 SIP Completion Certificate

This is to certify that Jay Lalwani, student of Master of Business

Administration from Batch of 2022-24, PIET, Enrolment Number
2206142000646 has successfully completed Summer Internship Program
at AN Instrument PVT. Ltd during 22/05/2023 to 07/07/2023 under my
guidance and supervision. He has successfully conducted a study and
completed project on summer internship at AN instruments PVT. Ltd

Signature of Industry Mentor

Date: 30/06/23 Mr. Mukti Prasad

Director of Company
 PREFACE
The summer training of a management studies play an important role in developing his as
well groomed professional. It allows a student to give theoretical concepts a practical in the
field of application. If gives the candidate an idea of dynamic & versatile professional world
as well as exposure to intricacies & complexities of corporate world.

Doing the summer training at AN Instruments PVT. LTD was great experience. An opening
experience to the concepts of Marketing department helped me in understanding the
concepts that are applied by the organization since its inception has progressed a lot & is
walking guideline of success, as the organization is marching with the speeds towards the
horizon. This division is holding with a greater speed to keep the pace with the major
players in the market.

During the MBA course we are taught dozen of subjects which if not applied properly are a
simple waste of time. Implementing & in learning of concept of marketing in the market
provider an opportunity to practically.

I got a chance to apply our theory & acceptance myself with the functioning of marketing in
a period of 8 weeks exposure to the corporate environment. I got a learning of basics of
marketing etc. Real learning places it`s worth only when it gives sweet fruits in future.
Summer training is one way to learning at work. I enjoyed the interesting experience &
every part of it.
 ACKNOWLEDGEMENT
This summer report project would not have been possible without support and assistance of
all the specialists working in this area. I would like to take this opportunity to thank each one
of the intellectual exchanges, valuable suggestions, critical reviews and technical assistance.

First of all, I am highly indebted to Mr. Mukti Prasad for giving me opportunity to work
under their personal guidance. I express my sincere gratitude to other member of department
for their valuable time and suggestions, me to complete this project successfully.

I am highly thankful to Pro.Aparna Hawaldar and all faculty member of Parul Institute, who
extended their support and guidance throughout the period of summer training.

I am thankful to all my trainers during this training helped me whatever little way they could
during period. I also feel to recognize the constructive feedback of my friend and moral
support of my family for without them this project would not have been possible.
 INDEX

Sr. No. PARTICULARS Page No

Chapter-1 INDUSTRY STUDY

1.1 Introduction 01

1.2 Growth and Evolution in India 03

1.3 Industry Analysis: Michael Porter’s Five Forces Model 05

Chater-2 COMPANY STUDY

2.1 Introduction of Company Name 08

2.2 Mission and Vision 09

2.3 Goals and Objectives 09

2.4 Organization’s Structure 10

2.5 Board of Directors and Key Executive Officers 11

2.6 Product and Services Offered 12

2.7 Key financial/operational results for last years 13

Chapter-3 DEPARTMENTAL STUDY

3.1 Introduction of the Marketing Department 14

3.2 Activities of Marketing Department 14

3.3 SWOT Analysis of the Department 15

Documents (Worked upon by the student while he/she was

3.4 Interning at the Organization) 17

Interdependence of department/Area under study with other

3.5 departments/operational areas 17

3.6 Analytical study of work/assignments/training 18

3.7 Conclusions 18

3.8 Suggestions 19

3.9 Outcomes of the Summer Internship 20

Chapter-4 RESEARCH

4.1 Title of the Study 22

4.2 Abstract of Research 22

4.3 Introduction of the Research Area 23

4.4 Literature Review 23

4.5 Define Research Problem/Research Objectives 25

4.6 Hypotheses 25

4.7 Research Methodology 25

4.7.1 Research Design 25

4.7.2 Sample Design and Sampling 26

Data Collection Instrument’s Selection, Preparation and

4.7.3 Collection 29

Research/Data Analysis (SPSS/AMoS/Advance Excel/NViVo

4.7.4 etc.) 30

4.8 Findings 32

4.9 Conclusions 32

4.10 Limitations 33

4.11 References 34

4.12 Appendices 33
 CHAPTER 1: INDUSTRY PROFILE

1.1 INTRODUCTION

ABOUT THE COMPANY

INCORPORATED IN THE EARLY 1970

One of the Pioneers in the Instrumentation business in India, which established in early 1970.
Our Technical capabilities are from more than 46 years expertise and experience which has
assured and committed for Quality products in our business and lead us to a business leader
the domestic market.

Con temporary technology, Skilled craftsmanship, Commitment to excellence kAll this, and
more, have made “ANI” the Most trusted name in pressure temperatur gauges,level
instruments. And, helped obtain approval from leading project consultants in India and
abroad.

Over the past four and half decades, “ANI” has established a huge customer base in
domestically and internationally and the company has continually expanded its product
range, which now includes special purpose Pressure Gauges, Regulators, Pressure Switches,
Circular Chart Data Recorders, Flow, Level, Manifolds and Instrumentation fittings.
Its dedication to quality is reflected in the manufacturing process which involves rigorous
quality and performance test so fall raw materials and finished products.

Page | 1
ABOUT THE GUAGES MANUFACTURING COMPANIES

A gauges manufacturing company is a company that specializes in the production of gauges,

which are instruments used for measuring, calibrating, and inspecting various parameters
such as pressure temperature, flowrate, dimensions, and more. These gauges are essential in
a wide range of industries including manufacturing, automotive, aerospace, oil and gas,
healthcare, and many others.

Demand for gauges is driven by the need for accurate and reliable measurements in different
applications.

Industries rely on gauges to ensure quality control, Compliance with regulations, and
efficient operation of their processes. The demand for gauges can vary based on the
industry’s performance, economic conditions, technological advancements, and regulatory
requirements.

TYPES OF GUAGES

 Pressure Gauges:
These gauges are used to measure the pressure of liquids or gases in a system. They
often have a dial or digital display that indicates the pressure reading.

 Temperature Gauges:
These gauges are used to measure the temperature of sustain environment. They can
be designed as dial gauges or digital thermometers, depending on the specific
application.

 Level Gauges:
Level gauges are used to measure the level of liquid or bulk material in tanks,
vessels, or containers. They can be designed as visual indicators, sight glasses, or
electronic sensors.

 Flow Gauges:
Flow gauges are used to measure The rate of fluid flow in pipes or channels. They
can Provide information about the volume, velocity, or mass flowrate of a fluid.

 Dimensional Gauges:
Dimensional gauges are used to measure various dimensions, such as
length,thickness,diameter,ordepth.They are commonly used in manufacturing
processes for quality control and precision measurement.

Page | 2
Gauges manufacturing companies often serve diverse industries such as manufacturing,
automotive, aerospace, oil and gas, pharmaceuticals, and more.
They may also provide services like calibration, repair, and customization of gauges to meet
specific customer

1.2 GROWTH AND EVOLUTION OF INDUSTRIES IN INDIA

AN Instruments is a well-established company in the gauges manufacturing industry.

Founded in 1970, the company has a rich history and extensive experience in designing and
Manufacturing a wide range of high-quality gauges for various applications. Over the years,
AN Instruments has built a Strong reputation for its commitment to precision, reliability, and
customer satisfaction.

Growth:

AN Instruments has experienced steady growth since its establishment in 1970. The
company's commitment to delivering superior gauges and meeting the evolving needs of its
customers has contributed to its success. With a focus on innovation and continuous
improvement, AN Instruments has expanded its product portfolio to cater to diverse
industries such as manufacturing, automotive, aerospace, oil and gas, and more.

The company's growth can also be attributed to its ability to adapt to market trends and
technological advancements. AN Instruments invests in research and development to stay at
the fore front of gauge manufacturing technology. By staying updated with industry
standards and incorporating the latest advancements in measurement and calibration, the
company ensures its gauges meet the highest quality standards and address the changing
needs of its customers.

Page | 3
Evaluation:

AN Instruments places great importance one valuating its Performance and products to
maintain its high standards. The company has implemented rigorous quality control
processes throughout the manufacturing cycle. Each gauge under goes meticulous testing
and inspection to ensure accuracy, reliability, and durability.

AN Instruments also values customer feedback and actively seeks input from its clients. This
feedback is used to assess customer satisfaction and identify areas for improvement. By
listening to customer needs and incorporating their suggestions, the company continuously
enhances its products and services.

In addition, AN Instruments regularly conducts internal evaluations to assess operational

efficiency and identify opportunities for optimization. The company closely monitors
production processes, supply chain management, and cost-effectiveness to streamline
operations and maximize productivity.

These evaluations help AN Instruments identify areas where it can further improve its
performance, reduce waste, and enhance overall efficiency. AN Instruments' commitment to
growth and evaluation has positioned the company as a trusted manufacturer of gauges.
With its strong focus on precision, reliability, and customer satisfaction, the company has
built long-lasting relationships with clients world wide.

By leveraging its experience,expertise, and dedication to excellence, AN Instruments

continues to thrive in the gauges manufacturing industry.

Page | 4
1.3 MICHAEL PORTER’S FIVE FORCE MODEL

Five Forces that Shape Strategy", Michael Porter observed five forces that have significant
impact on a firm's profitability in its industry. These five forces analysis today in business
world is also known as -Porter Five Forces Analysis. The Porter Five(5)Forces are-

● Threat of New Entrants

● Bargaining Power of Suppliers
● Bargaining Power of Buyers
● Threat from Substitute Products
● Rivalry among the existing players

AN Instruments Incorporated Porter Five (5)Forces Analysis for Industry

Threats of New Entrants

New entrants in Guages-Broad Line brings innovation, new ways of doing things and put
pressure on AN Instruments Incorporated through lower pricing strategy, reducing costs, and
providing new value propositions to the customers. AN Instruments Incorporated has to
manage all these challenges and build effective barriers to safe guard its competitive edge.

Page | 5
How AN Instruments Incorporated can tackle the Threats of New Entrants

● By innovating new products and services. New products not only brings new
customers to the fold but also give old customer a reason to buy AN Instruments
Incorporated ‘sproducts.
● By building economies of scale so that it can lower the fixed cost per unit.
● Building capacities and spending money on research and develop.

New entrants are less likely to enter a dynamic industry where the Established player such as
AN Instruments Incorporated keep defining the standards regularly. It significantly reduces
the window of extraordinary profits for the new firms thus discourage new players in the
industry.

Bargaining Power of Suppliers

All most all the companies in the guages - Broad Line industry buy their raw material from
numerous suppliers. Suppliers in dominant position an decrease the margins AN Instruments
Incorporated can earn in the market. Powerful suppliers in the Technology sector use the
negotiating power to extra cthigher prices from the firms in guages - Broad Line field. The
overall impact of high supplier bargaining power is that it lowers the overall profitability of
gauges-Broadline.

How AN Instruments Incorporated can tackle Bargaining Power of the Suppliers

● By experimenting with product design susing different materials so that if the prices
go up of one raw material then company can shift to another.
● Developing dedicated suppliers whose business depends upon the firm. One of the
lessons AN Instruments Incorporated can learn from Wal-Mart and Nike is how
these companies developed third party manufacturers whose business solely
depends on them thus creating as scenario where these third party manufacturers
have signific By building efficient supply chain with multiple suppliers.
● Nely less bargaining power compare to Wal-Mart and Nike.

Bargaining Power of Buyers

Buyers are often ade manding lot. They want to buy the best offerings available by paying
the minimum price as possible. This put pressure on AN Instruments Incorporated
profitability in the long run. The smaller and more powerful the customer base is of AN
Instruments Incorporated the higher the bargaining power of the customers and higher their
ability to seek increasing discounts and offers.

How AN Instruments Incorporated can tackle the Bargaining Power of Buyers

● By building a large base of customers. This will be helpful in two ways. It will
reduce the bargaining power of the buyers plus it will provide an opportunity to the

Page | 6
 firm to streamline its sales and production process.
● By rapidly innovating new products. Customers often seek discounts and offerings
one stablished products so if AN Instruments Incorporated keep on coming up with
new products then it can limit the bargaining power of buyers.
● New products will also reduce the defection of existing customers of AN
Instruments Incorporated to its competitors.

Threats of Substitute Products or Services

When a new productor service meets a similar customer needs in different ways, industry
profitability suffers. For example services like Dropbox and Google Drive are substitute to
storage hardware drives. The threat of a substitute product or service is high if it offers a
value proposition that is uniquely different from present offering so the industry.

How AN Instruments Incorporated can tackle the Treat of Substitute Products /Services
● By being service oriented rather than just product oriented.
● By understanding the core need of the customer rather than what the customer is
buying.
● By increasing the switching cost for the customers.

Rivalry among the Existing Competitors

If the rivalry among the existing players in an industry is intense then it will drive down
prices and decrease the overall profitability of the industry. AN Instruments Incorporated
operates in a very competitive gauges - Broad Line industry. This competition does take to
lathe over all long term profitability of the organization.

How AN Instruments Incorporated can tackle Intense Rivalry among the Existing
Competitors in guages-Broad Line industry

● By building a sustainable differentiation

● By building scale so that it can compete better
● Collaborating with competitors to increase the market size rather than just
competing for small market.

Implications of Porter Five Forces on AN Instruments Incorporated

By analysing all the five competitive forces AN Instruments Incorporated strategists can
gain a complete picture of what impacts the profitability of the organisation in guages -
Broad Line industry. They can identify game changing trends early on and can swiftly
respond to exploit the emerging opportunity. By understanding the Porter Five Forces in
great detail AN Instruments Incorporated's managers can shape those forces in their favor.

Page | 7
 CHAPTER 2:-COMPANY PROFILE

2.1 INTRODUCTION OF COMPANY

INCORPORATED IN THE EARLY 1970

One of the Pioneers in the Instrumentation business in India, which established in early
1970. Technical capabilities are from more than 46 years expertise and experience which has
assured and committed for Quality products in business and lead to a business leader in the
domestic market. Contemporary technology, Skilled craftsmanship, Commitment to
excellence.

All this, and more, have made “ANI” the most trusted name in pressure temperature gauges,
level instruments. And, helped obtain approval from leading project consultants in India and
abroad.

Over the past four and half decades, “ANI” has established a huge customer base in
domestically and internationally and the company has continually expanded its product
range, which now includes special purpose Pressure Gauges, Regulators, Pressure Switches,
Circular Chart Data Recorders, Flow, Level, Manifolds and Instrumentation fittings.

Its dedication to quality is reflected in the manufacturing process which involves rigorous
quality and performance tests of all raw materials and finished products.

2.2 VISION AND MISSION

VISION:

Exceed our customer expectation in quality, delivery, and cost through countinuous
improvement and customer interaction.

MISSION:

Page | 8
Our main mission is to understand the customer requirement, timely delivery of quality
product at an affordable cost.

The AN INSTRUMENTS PVT LTD its motivate and inspire the employee and workforce
towards giving their optimal best performance towards the goal achievement of AN
INSTRUMENTS PVT LTD.

2.3 GOALS AND OBJECTIVES

 GOALS:-

The goal set by AN INSTRUMENTS PVT LTD should be achievable. This means that AN
INSTRUMENTS PVT LTD have the resources and the finances necessary for being able to
realize the organization goals over the long haul. AN INSTRUMENTS PVT LTD should
also have the strategic leadership to be able to achieve these organization goals

AN INSTRUMENTS PVT LTD is a company wich manufactures guages that’s why their
main objective is
• Profit maximization
• Timely delivering to customer
• Customer satisfaction
• Shareholders wealth maximization

Page | 9
2.4 Organization’s structure

Page | 10
2.5 Board of Directors and key executive officer

Mr.Dev Dutta Sen - Managing Director

Mr. DD Sen, is Promoter, and Whole Time Director of the Company. He has completed his
Bachelor of Commerce from ShriShahuJiMaharaj University, Kanpur. He has around a
decade of experience in coal industry. His scope of work includes overall management of
coal/Trade business of the Company.

Mr. Mukti Prasad Basu – Director

Mr. MuktiBasu is an Director on the Board of the Company. He is Qualified Chartered
Accountant and having 32 years of Rich experience headed multiple positions in renowned
business groups

Mr. Pradeep Kumar Mahanti – Sales Director

Mr. P.K Mahanti, is Whole Time Director of the Company. He has completed Bachelor of
Commerce from Kanpur University. His scope of work includes management of sales and
production of paper business of the Company.

S.NO NAME DESIGNATION

1 Harshad Patel General Manager

2 Head of finance
department
Manish Das

3 MayuriRana Head of
operation
department

4 ParthChawla Purchase
Manager

5 Akshay Soni Marketing

Manager

Page | 11
2.6 Product and Service offered

● Pressure Gauges:
These gauges are used to measure the pressure of liquids or gases in a system. They
often have a dial or digital display that indicates the pressure reading.

● Temperature Gauges:
These gauges are used to measure the temperature of a substance or environment.
They can be designed as dial gauges or digital thermometers, depending on the
specific application.

● Level Gauges:
Level gauges are used to measure the level of liquid or bulk material in tanks,
vessels, or containers. They can be designed as visual indicators, sight glasses, or
electronic sensors.

● Flow Gauges:
Flow gauges are used to measure the rate of fluid flow in pipes or channels. They can
provide information about the volume, velocity, or mass flow rate of a fluid.

● Dimensional Gauges:
Dimensional gauges are used to measure various dimensions, such as length,
thickness, diameter, or depth. They are commonly used in manufacturing processes
for quality control and precision measurement

2.7 Key financial result for Last years

Page | 12
 CHAPTER 3:-DEPARTMENTAL STUDY

3.1 INTRODUCTION OF MARKETING DEPARTMENT

The Area/Department in which I am working as intern is the MARKETING

DEPARTMENT at (AN INSTRUMENTS PVT LTD).

A marketing department drives the promotional engine of a business. It is responsible for

increasing brand awareness overall, while also driving potential and recurring customers to a
company’s products or services.

3.2 ACTIVITIES OF THE MARKETING DEPARTMENT

 Conducting campaign management for marketing initiatives.

 Producing marketing and promotional materials.

 Creating content providing search engine optimization for your website.

 Monitoring and managing social media.

 Producing internal communications.

 Serving as media liaison.

Page | 13
  Conducting customer and market research.

3.3 SWOT ANALYSIS OF MARKETING DEPARTMENT

STRENGTH

 Location Advantage of manufacturing unit

AN Instruments is situated in (Vapi , Gujarat) one of the biggest industrial sector of
Gujarat So its provides lots of advantages to the company where the AN instruments
Pvt ltd is situated at that location there is a proper transportation facility is available .

 STRONG CLIENT

Page | 14
 The AN Instruments has strong client like L&T, ONGC, IOCL. Ect AN Instruments
is working on the requirement of the client.

 QUALITY OF PRODUCT
AN inatruments is one of the leading manufacture of (pressure guage, temperature
guage, level switches) Instruments and one of the reputed industry in manufacturing
industry only because of there quality of product

THREATS

 Threats of new entrance:

The threat of new businesses starting in this sector is high because there are many
suppliers available to provide necessary help to grow such business.

 INTENSE COMPETITION FROM UNORGANIZED PLAYERS

AN instruments is getting competition from same industry or start ups

 CHANGE in REGULATORY NORMS IN OUR COUNTRY/EXPORTING

COUNTRY
When the law changes at that time the company has to change there plans

WEAKNESS

 FLUCTUATION IN RAWMATERIAL COST

There are so many dealer who gives raw material to the company so sometimes raw
material affect the production of the product

 OPPORTUNITY
GOODS BAN FROM CHINA WILL INCREASE OUR SALES
Because in our country the product which import from china is get ban most of the
china product is plastic based product that’s why our sale will increased because
china is not able to send there plastic product to our country so we call sell or
product.

 EXPORTING NEW EXPORT MARKET

Because the AN instruments is one of the leading company who manufacture
(pressureguage, temperature guage, level switches) Instruments so that we can able
to explore more export market Increasing demand for discount cards by offering
more services in future

Page | 15
3.4 DOCUMENTS

1. PLANNING

The purpose of a marketing plan is to decide how you will sell your products or services to
consumers. Rather than assuming your product is perfect for everyone, the plan focuses on
key people who are most likely to buy the product.

2. STAFFING

Staffing refers to the continuous process of finding, selecting evaluating and developing a
working relationship with current or future employees. The main goal of staffing is to fill the
various roles within the company with suitable candidates.

3. DIRECTING

Page | 16
Directing refers to a process or technique of instructing, guiding, inspiring, counseling,
overseeing and leading people towards the accomplishment of organizational goals.

4. CONRTOLLING

Marketing control refers to the measurement of the company's marketing performance in

terms of the sales revenue generated, market share captured, and profit earned.

3.5 INTERDEPENDECE OF DEPARTMENT WITH OTHER

DEPARTMENT

The Major Department of the Company are listed below All the department are
interdependence with each other marketing and sales department are interdependence to
production department Finance department is interdependence to marketing and sales
departmentAccounting department is interdependence to marketing and sales department
Legal and compliances department are interdependence to HR and Admin.

3.6 ANALYTICAL STUDY OF WORK

work for the marketing internships involves evaluating the assignments, tasks, training, and
performance of marketing during the internship program. I assesses the relevance and
complexity of assignments, the opportunities for skill development, the level of supervision
and feedback, and the overall impact on my growth and competence. The study aims to
improve the internship program by identifying strengths and areas for enhancement,
ultimately providing valuable learning experiences for future marketing interns.

3.7 CONCLUSIONS

In conclusion, marketing internships offers me valuable learning experiences, practical

exposure, and opportunities for professional growth. I had gain hands-on experience in
various marketing areas and develop essential skills for my future careers. The internships

Page | 17
help me build my portfolios, explore different marketing roles, and expand my professional
networks. Internships also provide opportunities for evaluation and feedback, allowing me to
refine my skills and improve my performance. Overall, marketing internships serve as a
stepping stone for launching successful careers in the marketing field.

3.8 SUGGESTION

As an intern working with an instrument manufacturing company, here are some

suggestions that can enhance the internship experience:

 Structured Internship Program: Develop a structured internship program that

outlines the goals, objectives, and timeline of the internship. Clearly communicate
the expectations, responsibilities, and deliverables for the interns. This will provide
a clear framework for their work and help them understand their role within the
organization.

 Rotational Assignments: Provide interns with the opportunity to work in different

departments or teams within the company. This allows them to gain exposure to
various aspects of the instrument manufacturing process, such as production, quality
control, research and development, marketing, o…

 Final Presentation or Project Showcase: At the end of the internship, give interns the
opportunity to present their work or showcase the projects they have completed.
This allows them to demonstrate their achievements, share their learnings, and

Page | 18
 receive feedback from the management team. It also serves as a platform to
recognize their contributions and celebrate their accomplishments.

By implementing these suggestions, the instrument manufacturing company

can create a rewarding and enriching internship program. It will provide interns with
valuable experiences, skill development opportunities, and a positive impression of
the company, making them more likely to become future advocates or potential hires.

3.9 OUTCOME OF THE SUMMER INTERNSHIP

The outcomes of summer internship programs in the marketing field can vary depending on
the specific program and the goals of the participants. However, here are some common
outcomes that are typically associated with marketing internships:

Practical Experience:

Interns gain hands-on experience in various marketing activities and projects. They have the
opportunity to apply theoretical knowledge to real-world marketing scenarios, such as
conducting market research, creating marketing campaigns, managing social media
accounts, analyzing data, or assisting with event planning. This practical experience helps
interns develop a deeper understanding of marketing concepts and strategies.

Skill Development:
Internships provide a platform for interns to develop and enhance their marketing skills.
They learn how to use marketing tools and software, improve their communication and
presentation skills, enhance their analytical and problem-solving abilities, and develop a
customer-oriented mindset. These skills are invaluable for future marketing roles.

Industry Knowledge:
Internships expose interns to the workings of the marketing industry. They gain insights into
market trends, consumer behavior, industry best practices, and the competitive landscape.
Interns learn about different marketing channels, strategies, and tactics employed by
organizations to achieve their marketing objectives.

Networking Opportunities:

Page | 19
Internships allow interns to network with professionals in the marketing field. They have the
chance to interact with marketing managers, executives, and other industry experts. Building
these professional relationships can open doors for mentorship, future job opportunities, and
valuable connections within the marketing industry.

Self-Development:
Internships provide a platform for personal growth and development. Interns gain
confidence, improve their problem-solving abilities, learn to adapt to different work
environments, and develop a professional work ethic. They also learn how to manage their
time effectively and work collaboratively as part of a team.

Overall, summer internship programs in the marketing field offer numerous benefits,
including practical experience, skill development, industry exposure, networking
opportunities, resume enhancement, career exploration, and personal growth. These
outcomes contribute to the interns' professional development and increase their prospects for
a successful career in the marketing industry.

CHAPTER 4:-RESEARCH

4.1 TITLE OF THE STUDY

“A STUDY ON FINANCIAL LITERACY OF DIFFERENT STATES ACCORDING TO

DIFFERENT ECONOMIC CLASSES”

4.2 ABSTRACT OF RESEARCH

Page | 20
Financial literacy and education are necessary in life, without it the growth and development
is not possible. People with appropriate financial literacy and education make better
financial decisions and manage money better than others. Financial literacy helps in making
your own financial decisions. Knowledge, aptitude, and attitude towards money are all
components of financial literacy. It aids in decision making and promotes personal
wellbeing.

Studies has been done worldwide to gauge the extent of finance knowledge This paper
measures the level of financial literacy of different classes. The results of the research paper
shows that people living in India have a equitable level of financial literacy.

4.3 INTRODUCTION OF THE RESEARCH AREA

“I believe that through knowledge and discipline, financial peace is possible for all of
us”-Dave Ramsey

The financial literacy is the knowledge about the financial investments and different types of
financial products. It provides information. Financial literacy has a concern with personal
finance matters. It frequently involves the information of taking conclusion concerning some
personal finance areas like real estate, insurance, savings, tax planning and retirement etc.

Being financially illiterate can lead to several drawbacks, such as being more likely to
accumulate unmanageable debt burdens, either through poor spending decisions or lack of
long-term preparation. This can lead to poor credit, bankruptcy, housing foreclosure, and
other negative consequences. Financial literacy is simply the understanding of personal
financial management. It offers the double advantage of safeguarding against financial theft
and preparing for a

financially secure future. The nation's economic growth increases with the increase in the
financial literacy levels of the individuals. The basic knowledge of financial terms should be
introduced at the school level to increase financial literacy.

4.4 LITERATURE REVIEW

“A STUDY OF FINANCIAL LITERACY AND ITS DETERMINANTS: EVIDENCE

FROM INDIA” by Kapil Choudhary & Smriti Kamboj have researched that Financial
Literacy has become a priority area across the world in recent years. In a complex and

Page | 21
globalized marketplace, a myriad of products is offered in the financial market, and the
accessibility of products has also increased.

“Financial Literacy: Imperative to India’s Economic Makeover “By ananjan Singh

Rawat and Bani Gambhir in the words of the famous American economist Alan Greenspan,
financial illiteracy is the number one problem of ‘today’s generation and economy.’ The
objective of this paper is to bring forth the deficiencies in the Indian economy with respect
to financial literacy, its policy design, implementation and infrastructural caveats.

“Financial Literacy in India: A Review and Road Map Ahead in the Times of
Digitalization and Demonetization” the topic reviewed by Srishti Chauhan and Kavita
Indapurkar take that Empirical evidence indicates quite a low level of financial literacy in
both developed and developing nations even among the educated populace.

“A Study on Financial Literacy and its Determinants among Gen Y Employees in

Coimbatore City” Sekar.M& Gowri. M GRG school of management studies,

Coimbatore Financial literacy is the mix of one’s knowledge, skill and attitude towards
financial matters. It helps to make informed decisions and well-being of an individual.
Research has been conducted globally for measuring the level of financial literacy. And also,
financial literacy survey has been conducted at country level by the governments.

“To Understand the Level of Financial Literacy Among Adults in Mumbai”

by Naman Jain, Miloni Sanghani, Nidhi Surana, Nihal Sohal, Peeya Barath researched that
Recently, there has been a rise in the number of people who simply do not possess the
adequate amount of financial literacy that is required in order to make sound financial
decisions. Using survey filled by 165 respondents across Mumbai, this study analysed the
behaviour and attitude of people in Mumbai towards financial literacy.

DEFINITION OF FINANCIAL LITERACY

The financial literacy is the knowledge about the financial investments and different types of
financial products.

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Financial literacy is the possession of the set of skills and knowledge that allows an
individual to make informed and effective decisions with all of their financial resources

4.5 RESEARCH OBJECTIVE

The objectives of the study are:

 To recognize the concept.

 To focus the approaches of customer acquisition.

 To find the effective ways to retain the customers.

 To estimate the financial literacy among the different economic classes of nearby
region of different states.
 To analyses the demographic variations and relationships between financial literacy.

4.6 HYPOTHESIS

1. H0: Age and Attitude of people towards financial Literacy are independent.

2. H0: Literacy objective and Attitude of people towards financial Literacy are
independent.

3. H1: Time Horizon and Attitude of people towards financial Literacy are independent

4.7 RESEARCH METHODOLOGY

4.7.1 RESEARCH DESIGN

A research design is defined as the specific methods and procedures for acquiring the
information needed. It is a plant or organizing framework for doing the study and

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 collecting the data. Designing a research plan requires decisions all the data sources,
research approaches, research instruments, sampling plan and contact methods.

Research design is mainly of following types:

1. Exploratory research

2. Descriptive research

3. Casual research

Exploratory Research

The major purposes of exploratory studies are the identification of problems, the
more precise formulation of problems and the formulations of new alternative
courses of action. The design of exploratory studies is characterized by a great
amount of flexibility and ad-hoc veracity.

Descriptive research

Descriptive research in contrast to exploratory research is marked by the prior

formulation of specific research questions. The investigator already knows a
substantial amount about the research problem. Perhaps as a result of an exploratory
study, before the project is initiated. Descriptive research is also characterized by a
preplanned and structured design.

Casual or Experimental Design

A casual design investigates the cause and effect relationships between two or more
variables. The hypothesis is tested and the experiment is done. There are following
types of casual designs:

 After only design

 Before after design
 Before after with control group design
 Four groups, six studies design
 After only with control group design
 Consumer panel design
 Exposit factor design

4.7.2 SAMPLE DESIGN AND SAMPLING

Sampling Design:

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The random sampling is done because any probability sampling procedure would require
detailed information about the universe, which is not easily available further, as it is
being an exploratory research.

Sample Procedure:

In this study “random sampling procedure is used. Random sampling is preferred

because of some limitation and the complexity. Area sampling is used in combination
with random sampling so as to collect the data from different regions of the city.

Sampling Size:

The sampling size of the study is 65.

Method of the Sampling:

Probability Sampling

It is also known as random sampling. Here, every item of the universe has an equal
chance or probability of being chosen for sample.

Probability sampling may be taken inform of:

Simple Random Sampling

A simple random sample gives each member of the population an equal chance of being
chosen. It is not a haphazard sample as some people think. One way of achieving a
simple random sample is to number each element in the sampling frame (e.g. give
everyone on the Electoral register a number) and then use random numbers to select the
required sample.

Random numbers can be obtained using your calculator, a spreadsheet, and printed
tables of random numbers, or by the more traditional methods of drawing slips of paper
from a hat, tossing coins or rolling dice.

Systematic Random Sampling

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This is random sampling with a system from the sampling frame, a starting point is
chosen at random, and thereafter at regular intervals.

Stratified Random Sampling

With stratified random sampling, the population is first divided into a number of parts or
'strata' according to some characteristic, chosen to be related to the major variables being
studied. For this survey, the variable of interest is the citizen's attitude to the
redevelopment scheme, and the stratification factor will be the values of the respondents'
homes. This factor was chosen because it seems reasonable to suppose that it will be
related to people's attitudes

Cluster and Area Sampling

Cluster sampling is a sampling technique used when "natural" groupings are evident in a
statistical population. It is often used in marketing research. In this technique, the total
population is divided into these groups (or clusters) and a sample of the groups is
selected.

Then the required information is collected from the elements within each selected
group. This may be done for every element in these groups or a subsample of elements
may be selected within each of these groups.

Non Probability Sampling

It is also known as deliberate or purposive or judgemental sampling. In this type of

sampling, every item Convenience Sampling

A convenience sample chooses the individuals on the basis of easiness to reach or

convenience. Convenience sampling does not represent the entire population so it is
considered bias.

Quota Sampling
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 In quota sampling the selection of the sample is made by the interviewer, who has been
given quotas to fill form from specified sub-groups of the population.

Judgment Sampling

The sampling technique used here in probability > Random Sampling.

4.7.3 DATA COLLECTION METHOD

Primary and secondary data collection method both will be use.

Primary data:

Primary data collection is the process of collecting data from a live source, such as a
human being. The goal of primary data collection is to collect data that is as accurate and
complete as possible. This data can be used to improve the quality of life for people and
the environment.

Secondary data:

Secondary data collection refers to gathering information that’s already available. The
data was previously collected, has undergone necessary statistical analysis and isn’t
owned by the researcher. This data is usually one that was collected from primary
sources and later made available for everyone to access. in the universe does not have an
equal, chance of being included in a sample.

4.7.4 DATA INTERPRETATION

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 Table No-1

Sr. Questions No. of Percentage

No Respondents

1) Gender

Male 34 52.3%

Female 31 47.7%

2) Age Range

20-30 57 87.7%

31-40 4 6.2%

41-50 3 4.6%

51-60 1 1.5%

3) Marital Status

Single 46 70.8%

Married 16 24.6%

Prefer not to say 3 4.6%

4) Education

SSC 1 1.5%

High School 1 1.5%

Graduate 42 64.6%

Post Graduate 21 32.3%

5) Employment Status

Full-time employed 12 18.5%

Part-time employed 5 7.7%

Self-employed 28 43.1%

Unemployed 20 30.8%

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 6) Annual Income

LESS THAN 1lac 32 49.2%

1 lac – 5 lacs 13 20%

5 lacs – 10 lacs 14 21.5%

10 lacs – 15 lacs 5 7.70%

15 lacs – more 1 1.5%

7) Ability to manage own Finance

Not Sure 33 50.8%

Somewhat Sure 18 27.7%

Very sure 14 21.5%

8) Saving and investment Is

important to me

Very Important 34 52.3%

Important 18 27.7%

Moderate 08 12.3%

Slightly important 03 4.6%

Not important 02 3.1%

9) How often do you put money for

emergencies

Always 33 50.8%

Very often 8 12.3%

Sometimes 17 26.2%

Rarely 4 6.2%

Never 3 4.6%

4.8 RESULTS& FINDINGS

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 We have seen all the respondents’ individual responses and from that we able to know
financial literacy of different economic classes in different states.

According to the 65 responses we got from the questionnaire survey for people living in
different states, we find that people whose annual income come between 1 lac to 5 lacs,
among 65 respondents 12 are full time employed, 5 are part time Employed, 20 are
unemployed and 28 are self-employed. 21 respondents are post graduate, 42 are graduate, 1
is in high school, 1 have SSC certification.

18 respondents are somewhat sure, 14 respondents are very sure, and 33 are not sure about
their ability to manage their finance.

3 respondents s never put money for emergency because of their daily expenses and
less salary, 4 respondents rarely, 17 sometimes, 8 very often, and 33 always put some
money for emergency also because their ability to manage money.

4.9 CONCLUSION

The above mentioned data suggests that the overall financial situation of all respondents is
not encouraging. This shows that many in our city are still unaware of their financial
situation. It becomes essential to be financially literate and aware of current challenges.
The study’s findings indicate that there are considerable differences in financial literacy
level, where people who have low income doesn’t focus on investments, are not able to save
for their early retirement. Majority of people are sure about there ability to manage their
finance.

They discovered that those with financial literacy save for retirement and are wealthier than
people who don't. As a result, those who lack financial literacy tend to be less wealthy and
borrow more.

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4.10 LIMITATION

Although the study was carried out with extreme enthusiasm and careful planning there

are several limitations which handicapped the research viz.,

Time Constraints:

The time stipulated for the project to be completed is less and thus there are chances that

some information might have been left out, however due care is taken to include all the

relevant information needed.

Sample size:

Due to time constraints the sample size was relatively small and would definitely have

been more representative if I had collected information from more respondents.

Accuracy:

It is difficult to know if all the respondents gave accurate information; some respondents

tend to give misleading information

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4.11REFERENCES

Gautam, RAHUL SINGH, D. S. Rastogi, and A. A. S. H. I. Rawal. "Study of Financial

Literacy and Its Impact on Rural Development in India: Evidence Using Panel Data
Analysis." Iconic Research and Engineering Journals 5, no. 9 (2022): 483-492.

Shaik, Mahabub Basha, M. Kethan, T. Jaggaiah, and Mohammed Khizerulla. "Financial

Literacy and Investment Behaviour of IT Professional in India." East Asian Journal of
Multidisciplinary Research 1, no. 5 (2022): 777-788.

Anshika, Anshika, and Anju Singla. "Financial literacy of entrepreneurs: a systematic

review." Managerial Finance (2022).

Mishra, Rajesh. "Financial literacy and financial wellbeing among Indian households."
International Journal of Business and Management 17, no. 4 (2022): 98.

Jain, Kshipra. Financial Literacy and Ageing in Developing Economies: An Indian

Experience. Routledge, 2023.

Desai, Rajesh, Kedar Bhatt, and Avani Raval. "Financial Literacy and Its Impact on
Financial Inclusion: Moderating Role of Gender." The Journal of Wealth Management
(2023).

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4.12 Appendices

A study on Financial literacy of Different state’s according to different Economic classes

 
Name*

Your answer

Gender*

Male
Female
Other

Age Range*

20-30
31-40
41-50
51-60
Above 60

Marital status*

Singal
Married
Prefer not to say

Education*

SSC
Higher school
Graduate
Post Graduate
Other:

State*

Your answer

City*

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Your answer

Employee status*

Full time employed

Part time employed
Self employed
Unemployed

Annual Income*

Less than 1 lakh

1 lakh- 5 lakh
5 lakh- 10 lakh
10 lakh- 15 lakh
15 lakh or more

Ability to manage own finance*

Not sure
Somewhat sure
Very sure

Savings and investment is how much important to you?*

Very important
Important
Moderate
Slightly important
Not important

How often do you put your money for emergencies?*

Always
Very often
Sometimes
Rarely
Never

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