Project Report For Ball Pen Manufacture
Project report for Ball Pen Manufacture is as follows.
Ball Pencils and pens are commodities instruments. As a consequence, pricing becomes a crucial distinction. The cost of the instrument is a vital element that impacts buying decisions. When it comes to picking a pen, pricing is recognised as the second-most significant aspect by customers, the first being colour of the ink.
Brand name and look occupy third and fourth rank, respectively. In this area, it’s simple to deduce that brand loyalty is poor. However, it is crucial to have a strong brand presence in retail outlets. Product visibility and availability are major aspects that affect
An area that was previously the exclusive property of a chosen few has now become an immensely fragmented one. Even in today’s technological times, when the Internet and cell phones rule the globe, writing equipment remains important.
Market potential & Strategy
The rise of e-communication among corporations and other social classes throughout the globe has put textual communication in jeopardy. The pen industry is growing steadily, pens to rising recognition and rising disposable income (particularly among young adults).
The expanding worldwide pen market may be due to people’s increasing disposable income and increased brand awareness. The worldwide pens market is expected to grow in response to the growing number of students and the changing lifestyles of people in developed nations.
The pens market is a niche sector, and there are few merchants in the market, which might limit the market’s growth. Similarly, the import tariff on such high-end pens is high enough to have an influence on the market. Because of the high price range, dealers’ inventory costs rise, necessitating greater working capital management, which may cause the luxury pen market to fall.
Furthermore, there is a growth in electronic communication among individuals, which would further reduce the demand for pens.
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