Journal article Open Access

A STUDY ON PARAMETERS INFLUENCING REVENUE MAXIMIZATION THROUGH SALES OF COAL CHEMICALS AT BHILAI STEEL PLANT

Hemanth Kumar S; Nuzhatul Abrar Siddiqua; Rajesh M.

Coal has been recognized as the most important source of energy for electricity generation and as the source of organic chemical feedstock in the 21st century. Coal chemicals have unique properties making them essential in many daily life applications: railways infrastructure, construction, health protection and fuel efficiency. Steel industries rely on these coal chemicals to produce steel, aluminium, carbon black, resins, electrodes and more. Bhilai Steel Plant is the only Steel producing Organization with its own Coal Mines. Coal chemicals are high risk products as in they are dangerous and have to sell as soon as possible. Most of the coal chemical products are highly inflammable. Therefore, it is imperative to sell these products efficiently and quickly. The study was conducted to understand the entire process of sales of coal chemicals at Bhilai steel plant and analyse the challenges faced by the firm during the process. The data was collected by personal observation and interviews with authorities and relevant officials. It was observed that, knowing how to use search engine optimization for the promotion of products and services can prove to be a very helpful method of increasing revenues. Using the internet can be a very effective way for strengthening customer relationships, advertising and promotions and for attracting new customers. It was suggested to understand the demand and consumption of Bhilai steel plant and to treat both as independent entities, and to bring about innovation accordingly to meet demand.

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