IFB Project Abhishek NathTiwari 1 (2)
-
Upload
abhishek-tiwari -
Category
Documents
-
view
224 -
download
2
Transcript of IFB Project Abhishek NathTiwari 1 (2)
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
1/67
1
EXECUTIVE SUMMARY
Indian white and brown goods markets is increasing day by day with domestic companies
like IFB, KELVINATOR, GODREJ, VIDEOCON and MNCs like LG, WHIRPOOL,
SAMSUNG etc. IFB which is a major player in this segment has products like dishwasher,
washing machine, dryer, microwave Owens and other kitchen appliances.
The Indian Microwave Oven market is growing at the rate of 40% and of Washing Machine
is at the rate of 10%-15%.
The entire research has been carried out in different phases for fulfilling the objective of
finding the scope and potential of domestic dishwasher, front loading washing machines and
Microwave Ovens from customers and comparison of competitors price range, preference,
sales, after sales service of IFBs products with LG, SAMSUNG, VIDEOCON, KENSTAR,
ONIDA etc. from dealers.
For this different questionnaires has been prepared for dealers & consumers and also did
personal interviews with customers, dealers, managers (of hotels, restaurants etc) for data and
responses required to complete project.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
2/67
2
INTRODUCTION
The role of marketing research in managerial decision making is explained further using theframework of the "DECIDE" model:
D
Define the marketing problem
E
Enumerate the controllable and uncontrollable decision factors
C
Collect relevant information
I
Identify the best alternative
D
Develop and implement a marketing plan
E
Evaluate the decision and the decision process
Need of study
IFB is a big brand name but the emergence of other market players (LG, Samsung, Godrej
and the like) in the appliance industry, has set a big benchmark and has also affected IFBs
market position adversely. The company has not been able to make a huge success in this
segment despite its extensive promotional campaigns and vast experience in the field.
Customers are the lifeblood of every business and its success largely depends on how it
satisfies its customers. Customer purchase preferences are affected by a number of reasons.
In addition to this, Location convenience and Dealer relationship is one of the most
consideration followed by the After Sales Services and Variety, in building a good brand
image. Both these concepts have been taken into consideration to study the factors affecting
the customer purchase preference and also the dealers perspective to deal with a particular
appliance brand.
Thus this study is aimed to provide the management with some knowledge about its status in
market both in terms of sales and customer awareness. The research also aims to providesome ideas to improve the companys present condition.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
3/67
3
OBJECTIVES OF RESEARCH
The objectives of the research are as follows:
1) To identify buying pattern of fully automatic washing machine2) To identify the potential of front loader washing machine in the Indian
market
3) To identify competitors range/price/features of front loading washingmachine vis--vis IFB
4) To identify potential of microwave oven in the Indian market5) To identify competitors range/price/features of microwave ovens vis--vis
IFB
6) To identify the potential of the domestic dishwasher and identification offactors which affect dishwasher sales
7) To study the Customer satisfaction for IFB.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
4/67
4
SCOPE AND LIMITATIONS OF THE RESEARCH
Scope of research
A)Geographical ScopeAs of the geographical scope the research, the Nagpur territory has been selected
whereby Amravati city and Badnera of the territory would be undertaken for sample
collection
B) Functional ScopeThe research will be considering the market potential and competition ofWhite/Brown Goods.
C)Operational ScopeFor the research all the white/brown goods users and non users as well as dealers
within the city of Amravati and Badnera will only be considered.
Limitations of the research
The scope of the research was wide enough but the research was limited to Amravatiand Badnera only.
All the dealers and customers could not be contacted due to the lack of time. The individuals being observed might behave in a different way when they know they
are being observed and thus data collected may not be a true picture of the actual self.
Generally, respondents were busy in their work and were not interested in respondingcorrectly.
While every effort was made to get the questionnaire filled personally, even thensome elements of biasness might have crept in. Some respondents themselves were
not clear about their likings and choices.
In this research only Washing machine, Microwave oven and Dishwasher wereconsidered.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
5/67
5
Profile Of The Organization
Industry- Consumer Durables
IFB Industries Ltd. (Home appliances division)
Singh Warehousing Complex,
Gut no. 2347/1/B/3,
Nagar Road, Wagholi, Pune-412207
Location- Nagpur Territory (Amravati)
Vision & Mission
Vision
To be the vehicle manufacturers first choice for safety and comfort related products through
innovation and quality excellence.
Mission
Our mission is to create and deliver high quality and innovative products that will contribute
to our customers success and deliver value to our shareholders. We sha ll provide complete
solutions through our system capabilities in design, analysis, development, testing and
validation.
We are committed to environmental preservation and social responsibility.
Introduction Consumer Durables Industry
Durable goods are those which dont wear out quickly, yielding utility over time rather thanat once. Examples of consumer durable goods include electronic equipment, home
furnishings and fixtures, photographic equipment, leisure equipment and kitchen appliances.
They can be further classified as either white goods, such as refrigerators, washing machines
and air conditioners or brown goods such as blenders, cooking ranges and microwaves or
consumer electronics such as televisions and DVD players. Such big-ticket items typically
continue to be serviceable for three years at least and are characterized by long inter-purchase
times.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
6/67
6
Before the liberalization of the Indian economy, only a few companies like Kelvinator,
Godrej, Allwyn, and Voltas were the major players in the consumer durables market,
accounting for no less than 90% of the market. Then, after the liberalization, foreign players
like LG, Sony, Samsung, Whirlpool, IFB, and Aiwa came into the picture. Today, these
players control the major share of the consumer durable market.
Consumer durables market was expected to grow at 10-15% in 2007-2008. It is growing very
fast because of rise in living standards, easy access to consumer finance, and wide range of
choice, as many foreign players are entering in the market.
On the flip side, the presence of a large number of players in the consumer durables market
sometimes results in excess supply.
The consumer durables industry has always exhibited impressive growth despite strong
competition and constant price cutting. The industry exhibits very high correlation between
demand for durables (both new and replacements) and income. India has witnessed a
phenomenal growth, with the urban consumer durables market growing at almost 10 % per
annum, and the rural durables market growing at 25% per annum. The Indian consumer
durables industry has witnessed a considerable change in the past couple of years. Changing
lifestyle, higher disposable income coupled with greater affordability and a surge in
advertising has been instrumental in bringing about a sea change in the consumer behavior
pattern. Apart from steady income gains, consumer financing and hire-purchase schemes
have become a major driver in the consumer durables industry. In the case of more expensive
consumer goods, such as refrigerators, washing machines, color televisions and personal
computers, retailers are joining forces with banks and finance companies to market theirgoods more aggressively. N addition, change in policy, such as the WTO FTA in 2005
resulted in zero customs duty on imports of all telecom equipment, thereby improving the
pricing and affordability of imported goods. According to industry sources, in 2010, air-
conditioners are expected to grow 25%, split air-conditioners 60%, frost-free refrigerators
54%, washing machines 20%, fully automatic washing machines 35%, microwave ovens
35%, high-end flat panel TV 100%, LCD TVs 110% and the plasma TV are likely to register
a 100% growth.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
7/67
7
Essentially we can classify the consumer durable products into following categories:
1. Consumer Appliances
a. White Goods
b. Brown Goods
2. Small domestic Appliances
The largest MNCs incorporated in India are Whirlpool India, LG India, Samsung India and
Sony India and homegrown brands are Videocon, Godrej Industries and IFB. Videocon has
impressive presence in washing machine, color TVs, Air conditioners and refrigerator. Major
chunk of the revenue is fetched by these products. In order to gain competitiveness company
has invested for R&D facilities and technology tie-ups for almost every product.
Performance
In the past 10 years, the global market has witnessed a surge in demand as economies such as
Brazil, Mexico, India and China have opened up and begun rapid development, welcoming
globalization with lan. The consumer durables industry has always exhibited impressive
growth despite strong competition and constant price cutting, and the first contraction since
the 2001 dot-com bust has been due to the global recession. Given the strong correlation
between demand for durables (both new and replacements) and income, the industry naturally
suffered during the 2008-2009 period. However, projections for current year going forward
are very optimistic, as consumers resume spending, and producers launch new enticing
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
8/67
8
variants to grab new customers. Leading players include Sony Corporation,
Toshiba Corporation, Whirlpool Corporation and Panasonic Corporation.
Developing countries such as India and China have largely been shielded from the backlash
of the recession, as consumers continued to buy basic appliances. In fact, China has been
ranked the second-biggest market in the world for consumer electronics. Despite the
recession, their strong domestic economy and growing high-income population have buoyed
demand leading to aggressive market growth.
There is growing interest for new age products such as LCD-TVs and DVD players.
Meanwhile, the penetration of the basic, largest dollar items such as ovens, washing machines
and refrigerators is also increasing. India too, has witnessed a similar phenomenon, with theurban consumer durables market growing at almost 10 %p.a., and the rural durables market
growing at 25% p.a. Some high-growth categories within this segment include mobile
phones, TVs and music systems.
The Indian consumer durables industry has witnessed a considerable change in the past
couple of years. Changing lifestyle, higher disposable income coupled with greater
affordability and a surge in advertising has been instrumental in bringing about a sea change
in the consumer behavior pattern. Apart from steady income gains, consumer financing and
hire-purchase schemes have become a major driver in the consumer durables industry.
In the case of more expensive consumer goods, such as refrigerators, washing machines,
color televisions and personal computers, retailers are joining forces with banks and finance
companies to market their goods more aggressively. In addition, change in policy, such as the
WTO FTA in 2005 resulted in zero customs duty on imports of all telecom equipment,
thereby improving the pricing and affordability of imported goods.
Challenges
The biggest threats to the local industry going forward are supply-related issues pertaining to
distribution and infrastructure, as well as demand issues due to competition from imported
goods. The lack of well developed distribution networks makes it especially challenging to
penetrate the fastest growing rural areas economically. In addition, regular power cuts and
poor road linkages make systematic production, assembly and delivery problematic.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
9/67
9
On the demand side, customers have increasing choice from both domestically produced and
imported goods, with similar features. This homogeneity makes it difficult for players to
remain ahead of the competition.
MNCs hold an edge over their Indian counterparts in terms of superior technology combined
with a steady flow of capital, while domestic companies compete on the basis of their well-
acknowledged brands, an extensive distribution network and an insight in local market
conditions. The largest MNCs incorporated in India are Whirlpool India, LG India, Samsung
India and Sony India and homegrown brands are Videocon, Godrej Industries and IFB.
Future Prospects
Overall, the industrys future remains robust, and interested applicants will benefit from a
holistic learning experience; Many of the research, sales, marketing and advertising related
roles will necessitate a good on-the-job learning of target audiences, who may well be a
totally new segment, based in never-before visited Class II and III towns. In addition, those
with technical backgrounds will be able to leverage their knowledge and experience to
constantly develop and innovate the product variants. With more MNCs growing their Indian
businesses, there is great potential to also learn best-in-class systems and management skills.
Micro-economic parametercritical to be taken into consideration
Followings are the key driving forces for the industrys growth
1. Emergence of nuclear families.
2. Growth of entertainment and Media and the flurry of television channels and the rising
penetration of cinemas are also the growth drivers.
4. Electrification in rural areas backed by strong aspirations.
3. Growth of organized retail.
5. Easy finance options.
6. Acceptance as a utility product rather than a luxury.
7. Increase in disposable income with greater aspirations and demographics tilted towards
younger customers.
8. Diminishing price differential between the high-end and low-end ranges.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
10/67
10
Followings are the risks and concerns associated with the sector5:
1. The consumer electronic products and home appliances business is highly competitive.
2. There is a risk of assuming product liability, warranty and recall costs which may
adversely affect results of operations and financial condition.
3. The consumer electronic and home appliance business is seasonal in nature.
4. There is a risk of reliance on distribution network for marketing, sale and distribution
of its products and under-performance of distribution network may adversely affect
Companys sales and results of operations.
5. There is a risk of non-adjustability of product mix in line with market demand or keep
pace with technological changes.
Challenges associated with the growth of the sector:
1. The economy of rural India is growing at a very rapid pace, but lack of infrastructure
and logistics hampers the penetration.
2. LG & Samsungtwo Korean giants have very strong sales and distribution network
and commendable manufacturing technologies. Essentially both of the factors are highly
capital intensive and also risky.
3. Expenditure on marketing and branding requires to be balanced with the growth of
sales & distribution networkwhich is a very critical success factor.
4. Though suppliers have low bargaining power, price sensitivity, low switching cost and
new technologies may change the market dynamics drastically.
History of IFB :
IFB is the one of the most famous names among the world's biggest
Electronic brands. It is also one of the world's largest manufacturers of
electronic appliances.
Making some of the choicest appliances and other electronic gadgets in the world, IFB
specializes chiefly in the manufacture of advanced home appliances. The initials IFB stands
for Indian Fine Blanks.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
11/67
11
Ifb pic PAN Global
The Indian Fine Blanks Limited or IFB, as it is better known was first set up, as the name
indicates, in the country of India. IFB was set up in the year 1947. IFB began its enterprise in
collaboration with the Swiss company engaged in similar works, called Hienrich Schmid AG
of Switzerland.
YEAR EVENTS 1974 - The Comp. was incorporated on 12th September, in West Bengal.
The Company object is to manufacture fine blanking tools, press tools & fine blanked
components used in a wide range of precision engineering industries.
The Comp. was promoted by Bijon Nag, an engineer by profession.
Since then, the company has evolved into one of the most respected and trusted engineering
group to meet the growing needs of domestic and international automotive and domestic
international automotive market. The group now includes:
IFB Industries, Kolkata: automotive fine blanking components IFB Industries, Bangalore: fine blanking and subassemblies IFB Automotive Pvt. Ltd., Bangalore, Chennai, and New Delhi: automotive seating,
door and motors
IFB Home Appliances, Goa: washing machines, micro wave ovens IFB Automotive R & D Centre, Bangalore IFB Agro Industries, Kolkata
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
12/67
12
The product range includes Fine Blanked components, tools and related machine tools like
Straighteners, Decoilers, Strip loaders and others. The Engineering divisions are located at
Kolkata & Bangalore. The Bangalore unit, apart from Fine Blanked components,
manufactures motors for White goods as well as automotive applications.
Board of Directors
MR. BIJON NAG -CHAIRMAN
MR BIKRAMJIT NAG -JOINT EXECUTIVE CHAIRMAN & MANAGING DIRECTOR
MR. P. K. BISWAS -NOMINEE DIRECTOR OF IDBI
DR. RATHINDRA NATH MITRA -DIRECTOR
MR RADHARAMAN BHATTACHARYA -DIRECTOR
MR SOMEN BAL-DIRECTOR
MR R. MURALIDHAR -DIRECTOR
MR K. M. UNNIKRISHNAN -DIRECTOR
IFB Industries Ltd is a home appliances company in India. We are a high end brand
associated with quality and robustness of product coupled with a service network that is
one of Indias largest we reach an estimated 1000 plus towns across India. Our organization
is headquartered in Kolkata, West Bengal in Eastern India - with diverse business interests.
Home appliance division constitutes a significant proportion of our businesses globally. The
IFB brand offers fully automatic washing machines, Microwaves, Domestic and Industrial
dishwashers, clothes dryers. We have also recently launched fully built up modular kitchensand kitchen equipments. IFB holds 66% market share in the fully automatic Front-Loading
washing machine. In Microwave, we are the third largest player after LG and Samsung. In the
domestic dishwashers and clothes dryers, we are monopoly players with market shares in
excess of 95%.
The IFB front loading design is based on GERMAN principles for both aesthetics as
well as mechanical and electronic configuration.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
13/67
13
Products of IFB :
IFB has several sectors and have a wide range of products today. The products manufactured
by IFB today is very large and wide too. They manufacture products keeping in mind the
larger industrial and technological picture.
The advanced technological products include such things as:
Tools Machine Tools Straighteners Decoilers Strip loaders
However, the one sector where it has quite a thriving hold is in the scope of home
appliances. Some of the most manufactured and most used home appliances by IFB include
products such as:
Washing machines Dryers Microwave Ovens Dish Washers Industrial Dishwashing Solutions
IFB also makes additives, which are designed complimentarily to their other products. The
additives from the IFB brand include:
Protecta Descale Fabo Auto dish Detergent Auto dish Rinse Aid Dishwasher Salt Limo
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
14/67
14
IFBS Home Appliances Products
Why IFB?IFB is one of the market leaders of the home appliances brand in India and we are putting all
our efforts and hard work to become the first choice when it comes to being an integral part
of your household. In every decision that we make, your convenience is on top priority. We
want our innovations in technology to reflect in your innovation in cooking. With our
engineering feats, we want you to achieve new feats in your culinary skills.As you browse
through our existing range of products, just imagine how they will look in your home.
Imagine how effortless it is going to be when you invite guests for dinner, getting the delicatebone china spotlessly clean and never having to worry about the overflowing laundry bag or
even the weather for that matter.
Washing Machines-
Clothes Dryer-
Can you imagine washing your very expensive silk saree in a washing
machine? The IFB washing machine has a special cycle do all the thinking
for you. Choose from the various options to get the desired washing cycle.
Each cycle delivers the exact water temperature at the exact point in the
cycle that each garment type requires along with proper spin speed. We'll
concentrate on washing clothes and you concentrate on wearing them.
Take a look at the drum of an IFB clothes dryer and you'll see it's full of
holes. On comparing our drums with other brands in the market, you
will see that the other drums have tiny holes. This is so because the
people who make clothes dryers believe and think that the best and
fastest way of drying clothes is by using very hot air. And with all that
hot air they're blowing, they don't need very big holes.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
15/67
15
Microwave Oven-
Dishwasher-
The flow-through heater is a strong point of IFB dishwashers. But we decided to tell you about the
closed drying system instead. Most dishwashers dry dishes by blowing hot air onto still-wet, freshly
washed dishes.
OtherProducts Of IFB Home Appliances
(Laundry system, Chimney and Industrial Dishwasher)
Our microwave ovens are the perfect example of a beautiful blend
of performance and style. Be it grilling tandoori chicken on the
rotisserie or cooking a family meal on a 20SC2, cooking will no
more be a tiring experience. Our microwave range will set you free
to indulge in all the things that you have dreamed of whilst
enjoying the luxury of a hassle free cooking experience.
That disgust drove us to invent a hygienic, sealed drying system.
The IFB system is completely closed. We use no air at all to dry
your freshly washed and perfectly clean dishes. The wash water is
super-heated by our flow-through heater which sanitizes dishes and
heats the stainless steel wash tub walls of the IFB's dishwasher.
The heat from the walls condenses the moisture on the dishes, and
the condensation then runs down the smooth stainless steel. The
result? Spot-free, completely sanitized plates, glasses and
silverware, with which you can't wait to eat a delicious meal.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
16/67
16
Some Major Players in the Home Appliances segment in India
1.
Home appliances
The Home Appliances division makes products like refrigerators and washing machines. Its
2007 sales totaled KRW 11.8 trillion, accounting for 29% of the company's total revenue. The
division's profit was KRW 717.1 billion. About 35% of the company's home appliance revenue
comes from the North American market.It is also in to Mobile phones,Vacuum cleaners.
2.
Products of SAMSUNG-
Samsung mobile phones- GSM, CDMA Samsung Home Appliances- Washing Machine, Refrigerators, Microwave Oven, Air
Conditioners
Samsung T.V., DVD player, Audio Systems, Home theatre, Digital camera IT Products- Monitors, Hard disk, CD/DVD ROM/Writer, CCTV, Lazer camera etc.
The LG Corp is South Korea's second largest conglomerate that
produces electronics, chemicals, and telecommunications
products and operates subsidiaries like LG Electronics, LG
Display, LG Telecom and LG Chem in over 80 countries
Samsung Electronics is the world's largest electronics
company with 2009 revenue of $117.4 billion,[3][6][7][8]
headquartered in Samsung Town, Seoul, South Korea.[1][2] Itis the largest South Korean company and the flagship
subsidiary of the Samsung Group.Samsung Electronics has
achieved significant market share in the global market for more
than 60 products.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
17/67
17
3.
Consumer electronics
In India the group sells consumer products like Colour Televisions, Washing Machines, Air
Conditioners, Refrigerators, Microwave ovens and many other home appliances, selling them
through a Multi-Brand strategy with the largest sales and service network in India [4]. Videocon
Group brands include Akai, Electrolux, Hyundai, Kelvinator, Kenstar, Kenwood, Next, PlanetM,
Sansui, Toshibha, Philips (TV Products) etc
The Videocon group has an annual turnover of US$ 4.1 billion, making it one of the largest
consumer electronic and home appliance companies in India. Since 1998, it has expanded its
operations globally, especially in the Middle East.
4.
Videocon is an industrial conglomerate with
interests all over the world and based in India. The
group has 17 manufacturing sites in India and plants
in China, Poland, Italy and Mexico. It is also the
third largest picture tube manufacturer in the world.
Whirlpool Corporation (NYSE: WHR) is a Fortune
500 company and a global manufacturer and
marketer of major home appliances with its
headquarters in Benton Charter Township,
Michigan, United States, near Benton Harbor,
Michigan.[2][3] The company has annual sales of
approximately $20 billion, more than 70,000employees, and more than 70 manufacturing and
technology research centers around the world. It is
having a wide range of products like refrigerators,
washing machines, microwave ovens, air
conditioners,dryers and ups.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
18/67
18
LITERATURE REVIEW
A literature review is a body of text that aims to review the critical points of current
knowledge on a particular topic. Literature reviews are secondary sources, and as such, do
not report any new or original experimental work. Its ultimate goal is to bring the reader up to
date with current literature on a topic and forms the basis for another goal, such as future
research that may be needed in the area. A good literature review is characterized by: a
logical flow of ideas; current and relevant references with consistent, appropriate referencing
style; proper use of terminology; and an unbiased and comprehensive view of the previous
research on the topic
Hundal (2008), Significant considerations in the Purchase of Consumer Durables concluded in his study that the consumers have a preference/loyalty towards particular
brand of consumer durables and are not ready to buy any other brand so easily.
Location convenience and Dealer relationship is one of the most consideration
followed by the After Sales Services and Variety provided by the brand also play a
crucial role. Installment facility is also an important consideration which cannot be
ignored at all. All these factors create intensity of Brand Loyalty towards a particular
brand.
Conceptual Background
Competition is a contest between individuals, groups, animals, etc. for territory, a niche, or a
location ofresources. It arises whenever two or more parties strive for a goal which cannot be
shared. Competition occurs naturally between living organisms which co-exist in the same
environment. For example, animals compete over water supplies, food, mates, and other
biological resources. Humans compete for water, food, and mates, though when these needs
are met deep rivalries often arise over the pursuit of wealth, prestige, and fame. Business is
often associated with competition as most companies are in competition with at least one
other firm over the same group of customers.
Market potential
The estimated maximum total sales revenue of all suppliers of a product in a market during a
certain period.
A set of consumers who profess some level of interest in a designed market offer.
http://en.wikipedia.org/wiki/Contesthttp://en.wikipedia.org/wiki/Resourceshttp://en.wikipedia.org/wiki/Naturehttp://en.wikipedia.org/wiki/Natural_environmenthttp://en.wikipedia.org/wiki/Biological_resourceshttp://en.wikipedia.org/wiki/Wealthhttp://en.wikipedia.org/wiki/Celebrityhttp://www.investorwords.com/10294/maximum.htmlhttp://www.investorwords.com/11320/total.htmlhttp://www.businessdictionary.com/definition/sales-revenue.htmlhttp://www.businessdictionary.com/definition/supplier.htmlhttp://www.businessdictionary.com/definition/product.htmlhttp://www.businessdictionary.com/definition/market.htmlhttp://www.investorwords.com/3669/period.htmlhttp://www.investorwords.com/3669/period.htmlhttp://www.businessdictionary.com/definition/market.htmlhttp://www.businessdictionary.com/definition/product.htmlhttp://www.businessdictionary.com/definition/supplier.htmlhttp://www.businessdictionary.com/definition/sales-revenue.htmlhttp://www.investorwords.com/11320/total.htmlhttp://www.investorwords.com/10294/maximum.htmlhttp://en.wikipedia.org/wiki/Celebrityhttp://en.wikipedia.org/wiki/Wealthhttp://en.wikipedia.org/wiki/Biological_resourceshttp://en.wikipedia.org/wiki/Natural_environmenthttp://en.wikipedia.org/wiki/Naturehttp://en.wikipedia.org/wiki/Resourceshttp://en.wikipedia.org/wiki/Contest -
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
19/67
19
Sector Outlook
There has been strong competition between the major MNCs like Samsung, LG, and Sony.
LG Electronics India Ltd. has announced its extension plan in 2006. The company is going to
invest $250 million in India by 2011 and is planning to establish a manufacturing facility in
Pune.
TCL Corporation is also planning to establish a $22 million manufacturing facility in India.
The Indian companies like Videocon Industries and Onida are also planning to expand.
Videocon has acquired Electrolux brand in India. Also, with the acquisition of Thomson
Displays by Videocon in Poland, China, and Mexico, the company is marking its
international presence.
According to isuppli Corporation (Applied Market Intelligence), country's fiscal policy has
encouraged Indian consumer electronic industry. The reduction on import duty in the year
2005-06 has benefited many companies, such as Samsung, LG, and Sony. These companies
import their premium end products from manufacturing facilities that are located outside
India.
Indian consumers are now replacing their existing appliances with frost-free refrigerators,
split air conditioners, fully automatic washing machines, and color televisions (CTVs), which
are boosting the sales in these categories.
Some companies like Samsung Electronics Co. Ltd. and LG Electronics India Ltd. are now
focusing on rural areas also. These companies are introducing gift schemes and providing
easy finance to capture the consumer base in rural areas.
Sector Financials In Rs
31/03/2002 31/03/2003 31/03/2004Sales 37,331m 30,100m 43,096m
Sales Growth - -19.4% 43.2%
Gross Profit Margin 10.7% 6.6% 4.3%
Profit After Tax (PAT) 1,019m 940m -1,202m
PAT Growth - -4.3% -209.5%
Market Capitalization 1,787m 2,392m 2,359m
P/E Ratio 7.0 7.6 -7.9
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
20/67
20
Growth in 2005-06
Consumer Durables Growth
Air Conditioner 20-25%
Refrigerator 5-10%
Microwave Ovens 25%
Washing Machines 5-10%
Color Televisions (CTVs) 15-20%
Black & White Televisions -20%
Clock 10%
Watch 10%
VCDs 30%
Consumer Electronics (Overall) 9%
With the increase in income levels, easy availability of finance, increase in consumer
awareness, and introduction of new models, the demand for consumer durables has increased
significantly. Products like washing machines, air conditioners, microwave ovens, color
televisions (CTVs) are no longer considered luxury items. However, there are still very few
players in categories like vacuum cleaners, and dishwashers.
Consumer durables sector is characterized by the emergence of MNCs, exchange offers,discounts, and intense competition. The market share of MNCs in consumer durables sector
is 65%. MNC's major target is the growing middle class of India. MNCs offer superior
technology to the consumers, whereas the Indian companies compete on the basis of firm
grasp of the local market, their well-acknowledged brands, and hold over wide distribution
network. However, the penetration level of the consumer durables is still low in India. An
important factor behind low penetration is poor government spending on infrastructure. For
example, the government spending is very less on electrification programs in rural areas. This
factor discourages the consumer durables companies to market their products in rural areas.
Some Facts
1. Bargaining power of suppliers in consumer durables sector is limited due to threat of
imports and intense competition.
2. Some of the entry barriers in consumer durables sector are distribution network, capital,
and ability to hire purchases.
3. Demand is seasonal and cyclical.
4. Competition among players is on the basis of difference in prices and well-acknowledgedbrands.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
21/67
21
RESEARCH METHODOLOGY
Research is an art of scientific investigation. It is defined as A careful
investigation or enquiry especially through search for new facts in any branch of knowledge.
According to Clifford woody research comprises defining and redefining
problems, formulating hypothesis.
D.Slesinger and M.Stephension in the Encyclopedia of social sciences
define research as the manipulation of things, concepts or symbols for the purpose of
generalizing to extend, correct or verify knowledge , whether that knowledge aids in
construction of theory or in the practice of an art.
According to John W.Best Research is the systematic and objective analysis
and recording of controlled observation that may lead to development of generalization,
principles or theories resulting prediction and possibly ultimate control of events.
Objectives of research (Meaning)
1. To gain familiarity with a phenomenon or to achieve new insights into it (studies withthis object in view are termed as exploratory or formulative research studies).
2. To portray accurately the characteristics of a particular individual, situation or a group(studies with this object in view are known as descriptive research studies).
3. To determine the frequency with which something occurs or with which it isassociated with something else (studies with this object in view are known as
diagnostic research studies).
Types of research
Descriptive Analytical Applied Fundamental Quantitative Qualitative
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
22/67
22
RESEARCH PROCESS
Research process consists of series of actions or steps of actions or steps necessary
to effectively carry out and the desired sequencing of these steps
Figure: Research Process flow chart (Source:Research Methodology - C.R. Kothari.)
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
23/67
23
Research Design
Definition:-Research Design is a set of advance decisions that make up the master plan
specifying the methods and procedures for collecting and analyzing the needed information.
Types of Research Undertaken
Descriptive Research:- Descriptive research provides answers to the questions of who,
what, when, where, and how. Note that we cannot conclusively ascertain answers to WHY
using descriptive studies
1) Cross-sectional
2) Longitudinal
Sampling Techniques
Convenience sampling Technique:- Convenience sampling is used in exploratory research
where the researcher is interested in getting an inexpensive approximation of the truth. As the
name implies, the sample is selected because they are convenient.
Selection of sample size
For this survey the sample size is taken of 160 customers and 40 dealers.
Sources of Data collection
Following methods of data collection has been used
a) Primary Data Collectionb) Secondary Data Collection
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
24/67
24
Primary data
Primary data are those which are collected afresh and for the first time, and thus happen to be
original in character.
Collection of data through questionnaires (structured)
In this method a questionnaire is personally given to the respondent from the selected
sample with a request to answer the questions and return the questionnaire. A questionnaire
consists of number of questions relevant to the research problem, printed or typed in a
definite order on the form or sets of forms. The questionnaire is personally provided to
respondents under the guidance of the researcher, who are then expected to read, understand
and write down the reply in the space meant for answering various questions in the
questionnaire itself.
Secondary data
Secondary data on the other hand are those which have been already collected by someone
else and which have already been passed through the statistical process.
For the collection of secondary data various articles and researches from news journals,
institutional research articles, and personal researches relevant to the research problem have
been included.
Secondary Data Secondary data are collected through internet and mazagines in this
research because there is a lot of need to study about the competitors.
(Company leaflets, Brouchere, Magazine, Internet etc )
Both the primary data and secondary data have been used as the source of information for the
collection. I have done primary data collection through questionnaire.
STATISTICAL TOOLS USED
The main statistical tools used for the analysis of data in this project are:
-nut graphs
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
25/67
25
DATA PRESENTATION, ANALYSIS AND INTERPRETATION
Buying pattern of Fully Automatic Washing Machine:
Graph and Analysis - Sample Size=160
Brand Awareness
Awareness No of Person Percentage
LG 56 35%
IFB 32 20%
Samsung 48 30%Onida 16 10%
Others 8 5%
Total 160 100%
In this research it is found that out of 160 sample size 35% are aware about LG,20% of IFB,30% of Samsung, 10% of Onida, and rest 5% of others.
So the LG & Onida both are the leading brand which is most popular in Amravati and
Badnera.
35%
20%
30%
10%5%
Awareness
LG IFB Samsung Onida Others
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
26/67
26
Brand UsersBrands Used No of Person Percentage
LG 34 21%
Samsung 37 23%
IFB 28 18%
Onida 24 15%Others 37 23%
Total 160 100%
We can clearly see from the Pie Chart that the brand that is used by most of the customers is
Samsung(23%),LG(21%), IFB(18%), Onida(15%) and other(23%).
Top loading/ Front loading users
User/non users No. of respondents Percentage
FLT users 32 20%
Top Loading users 98 61%
Non users 30 19%
Total 160 100%
In this research it is find out that there are 20% FLT users and 61% are using top loading
washing but in the sample size of 160 there are 19% non users.
21%
23%
18%
15%
23%
Brands Used
LG Samsung IFB Onida Others
FLT Users ,20%
Top loading
users , 61%
Non users ,
19%
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
27/67
27
Customer satisfaction
Satisfaction No. of respondents Percentage
Very much satisfied 17 13%
Satisfied 57 44%
Somewhat satisfied 34 26%Dissatisfied 22 17%
In this research it is found that in160 sample size there are only 130 existing users, in which
44% are satisfied, 13% are very much satisfied, 26% are somewhat satisfied and 17% are
dissatisfied with their washing machine.
Mode of Preference while buying fully automatic washing machine
Mode of Preference No of Person Percentage
Quality 24 15%
Price 48 25%
Brand 55 34%
Aesthetics 32 20%
Other 10 6%
From the pie chart we can clearly observe that while buying a fully automatic washing
machine customers go for specific Brands (34%) no matter what ever is its price or special
features .After brand the buying decision is influenced by the products Price (25%), Quality
(15%), Aesthetics (20%), and any other reasons (6%).
44%
17%13%
26%
satisfaction
Satisfied 44% Dissatisfied 17%
Very much satisfied 13% Somewhat satisfied 26%
15%
25%
34%
20%
6%
Mode of preference
Quality
Price
Brand
Aesthetics
Any other
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
28/67
28
Factors for Buying
Factors No of Person Percentage
After Sales Service 85 53%
Sales Promotion
Offers
53 33%
Warranty 22 14%
From the graph we can observe that the most important factor affecting buying decision of
fully automatic Washing machine is after sales service (53%), then Sales Promotional offers
(33%) and finally 14% of customers are affected by warranty.
Findings:-From our survey we came across certain facts and findings.
According to an existing customer of LG, Mr. Rajesh Ratan I knew about the brandIFB and I had a good image and reputation about its products and service. But while I
was about to by a fully automatic washing machine I was influenced by the LGs
promotional ads in television, posters and banners throughout the city, so the brand
LG made caught up in my mind and even though I had a better image of IFB in mymind ,but was compelled to buy a LGs product.
Most of the customers have gone for purchasing a fully automatic washing machinewith their brand name as well as after sales service also considered in preference of
that brand over other brands in Nagpur.
33%
53%
14%
Factors of buying
Sales promoton offers 33% After sales service 53% Warrenty 14%
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
29/67
29
Potential of Front Loader Washing Machine
Graph and Analysis- Sample size=160
Type of washing machine used
Washing Machine Used No of Person Percentage
Semi Automatic 86 54%
Front Loading 42 26%
Top Loading 22 14%
Not Applicable 10 6%
From this pie chart we can interpret that there is a relative monopoly of Semi-automatic(53%)washing machine in Nagpur, with other type of washing machines(37%) and 6% of the
respondents dont have washing machine.
54%
14%
26%
6%
Semi automatic
Top loading (Fully
automatic)
Front Loading
Not applicable
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
30/67
30
Desired Attributes for existing and potential customers for front loading washing
machine
Desired Attributes No of Person PercentageClean Washing 89 57%
Durability 22 13%
Power Saving 30 19%
Detergent Saving 7 4%
Fully Automatic 12 7%
As per this graph we can clearly see that most of the customers desired attributes are Clean
Washing(57%),then Long durability(13%), Power saving(19%), Fully automatic(7%) anddetergent saving(4%).
Change from Top load to FLT (42 are using FLT)
Change No. of respondents Percentage
No 77 65%
Yes 41 35%
In this research its found that in 41 users are want to change and take FLT, and remaining 77
they dont want to change.
13%
7%
19%
4%
57%
Desired attributes
long durability
Fully automatic
Power saving
Detergent saving
clean washing
35%
65%
Prospect of FLT
Yes 37
No 59
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
31/67
31
Widest Range of products among different brands of FLWM
Product Range No of Person Percentage
IFB 32 20%Godrej 10 6%
LG 46 29%
Onida 22 14%
Samsung 34 21%
Others 16 10%
As per the response to the questionnaire and pie-chart we can interpret that according to the
existing/potential customers LG(29%) has the widest range in its washing machine range,
followed by Samsung(21%), IFB(20%), Onida(14%), Godrej(6%) and others have (10%).
20%
6%
30%14%
20%
10%
Range of Products
IFB Godrej LG Onida Samsung Others
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
32/67
32
Preference of brand in future
Preference No of Person Percentage
IFB 35 22%
Samsung 34 21%
LG 54 34%
Onida 18 11%
Others 19 12%
From this graph we can observe that most of the customers have given more preference on
LG(34%) followed by IFB(22%), then Samsung(21%), Onida(11%) and others(12%) in the
future for purchasing the FLT.
Findings:-
From our survey we found out that instead IFB having a good market in Front Loading
Washing Machine but has failed to capture the minds of the customers, whereas LG and
Samsung has capitalized on the opportunity.
22%
21%
34%
11%
12%
Brand preference
IFB
Samsung
LG
Onida
Any other
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
33/67
33
Dealer Survey
Comparison between various brands of Front Loading Washing Machine vis--vis IFB
Sample size=40
Front loading Washing Machine brand available at the stores
Available brands No. of Stores Percentage
LG 5 13%
Onida 3 7%Videocon 3 7%
IFB 5 13%
Others 4 10%
From the above column graph we can interpret that there are only 5 dealers who keep the
LGs FLW, followed by IFB(5), Onida(3),Videocon(3) and others (4) in Amravati.
So in sample size of 40 only 20 dealers have Front loading washing machine available in
their stores and remains 20 they dont put FLT.
0
1
2
3
4
5
LG Onida Videocon IFB Others
5
3 3
5
4
FLT at stores
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
34/67
34
Sales of different brands from various stores (Dealers-20)
Sales of brands No of machine sold Percentage
LG 11 27%
Samsung 9 21%
Videocon 2 5%IFB 7 17%
Onida 2 12%
Others 3 18%
According to the dealers LG(27%) has the highest sale in FLT ,followed by Samsung(21%),
IFB(17%), Videocon(5%), Onida (12%), Whirlpool (16%) and others have (18%) of sales
Demand of Washing machine
Machine type No. of respondents Percentage
Fully automatic 28 69%
Semi automatic 12 31%
On the basis of the dealers response we can say that in the Washing machine market there is
much difference in the demand of Semi automatic and fully automatic washing machine in
Amravati.
27%
21%
5%
17%
12%
18%
Sales
LG Samsung Videocon IFB Onida Others
Fully
automatic
69%
Semi
automatic
31%
Demand
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
35/67
35
Maximum margin to dealers
Brands No. of respondents Percentage
LG 14 35%
Samsung 10 25%
Videocon 4 10%IFB 4 10%
Onida 8 20%
According to this graph we can clearly say that LG gives maximum margin to the dealers.
After sales service
After Sales Service No of Dealers Percentage
LG 12 29%
Samsung 9 24%
IFB 7 17%
Videocon 8 19%
Onida 4 11%
According to the dealers LG provides the best after sales service to its customers
35%
25%
10%
10%
20%
Margin
LG Samsung Videocon IFB Onida
29%
24%17%
19%
11%
After sales serviceLG Samsung IFB Videocon Onida
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
36/67
36
Promotional offers
Promotional Offers No of Dealers Percentage
LG 14 35%Samsung 8 21%
Videocon 6 15%
IFB 4 10%
Onida 8 20%
From the above pie-chart we can clearly observe that in FLT the brand LG maximum (35%)
promotional offers, followed by Samsung (21%), Onida (20%), Videocon (15%) and IFB
(10%).
LG, 35%
Samsung,
21%Videocon,
15%
IFB, 10%
Onida,
20%
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
37/67
37
Complaints from customers after sale for different brands
Brands No. of dealers Percentage
LG 8 19%
Samsung 9 22%
Videocon 14 36%Onida 8 21%
IFB 1 2%
In this research it is found that the customers have very less complaints regarding IFB (2%),but others Videocon (36%), Samsung (22%), Onida (21%), LG (19%), so we can say that the
existing customers of IFB FLT are too much satisfied, because they are facing too less
problem after purchase.
Findings:-
While doing our survey for FLW we came across few facts:-
There are only few dealers who keep FLW ,as in this area mostly people for semi-automatic washing machines, but still FLW has a market because of the affluentclasses.
Videocon again has suffered as because of its poor after sales service and morecomplaints.
In Amravati the Dealer Price is not varies so much Only few Dealers who keep IFBs front loading washing machine due to because of
the price of the product and preferences of the customers.
19%
22%
36%
21%2%
Complaints
LG Samsung Videocon Onida IFB
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
38/67
38
Potential of Microwave Oven in the Indian Market
Graph and analysis - Sample size=160
Users/non users of MWO
In sample size of 160 there are 82 respondents (51%) are current users of MWO rest 78(49%)
are non users.
Brand using currently
Brand No.of respondents Percentage
LG 22 27%
IFB 10 12%Kenstar 16 19%
Onida 14 17%
Videocon 4 6%
Any other 16 19%
In the sample size of 160 there are 82 current users of MWO in which most using brand is
LG(27%) followed by Kenstar(19%),Onida(17%),IFB(12%),Videocon(6%) and remainingbrands have 19% users.
49%51%
Users/non users
Yes No
27%
12%19%
17%
6%19%
Brand using
LG IFB Kenstar Onida Videocon Any other
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
39/67
39
Most preferred type of MWO
MWO type No. of respondents Percentage
Convection 77 48%
Grill 51 32%
Solo 32 20%
In this research its found that the most of the customers are preferred to Convection MWO
(48%), while 32% are for Grill MWO and remaining 20% are for Solo MWO.
Desired attributes considered while purchasing MWO
Desired attributes No of respondents Percentage
Brand 56 35%Price 32 20%
Performance 24 15%
Quality 32 20%
Aesthetics 16 10%
In this research it is found that customers will first consider Brand name before buying a
MWO (40%), followed by performance (20%), aesthetics (16%), price (14%) and quality(10%).
48%
32%
20%
Type of MWO
Convection Grill Solo
Brand,
35%
Price,
20%
Performance,
15%
Quality, 20%
Aesthetics,
16%
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
40/67
40
Brand preference while buying MWO in future
Brand No. of respondents Percentage
LG 34 21%
Samsung 38 24%
Onida 21 13%Videocon 14 9%
IFB 24 15%
Kenstar 29 18%
From the above pie-chart we can clearly see that from the customer s point of view Samsung
(24%) is preferred more over other brands like LG (21%), Kenstar (18%), IFB (15%), Onida
(13%) and Videocon (9%)
Findings:-
From our survey we came to know that most of the customers prefer Samsung and LG for
buying a MWO in the future but it is also found that current users of LG, Kenstar and Onida
have high potential as they have created a good brand image in the minds of customersthrough sales promotion offers, advertisements.
IFB have also good market potential currently 15% and it will be also increased in future
because of the customers are preferring for IFB.
LG21%
Samsung
24%Onida
13%
Videocon
9%
IFB
15%
Kenstar
18%
Brands preference
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
41/67
41
Dealer Survey
Comparison between various brands of MWO vis--vis IFB
Sample size=40
Brands available at various stores
Brands available No of Dealer Percentage
LG 10 24%
Samsung 8 19%
IFB 5 13%
Kenstar 8 20%Godrej 2 6%
Onida 2 5%
Videocon 2 5%
Others 3 8%
From the above column graph we can see that out of the sample size of 40 dealers 10 of them
have MWO of band LG, 8 dealers have Samsung, 8 Dealers have Kenstar, 5 Dealers have
IFB, (Godrej, Onida and Videocon) each available at 2-2 dealers . So we can say that
maximum dealers have the brand LG at their stores.
108
58
2 2 2 3
Available brands
Available brands
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
42/67
42
Maximum Sales of certain brands in various outlets of Amravati and Badnera
Sales No of Dealers Percentage
LG 9 23%Samsung 7 17%
IFB 5 12%
Videocon 3 7.5%
Onida 4 10%
Kenstar 6 15%
Electrolux 1 3%
Whirlpool 3 7.5%
Godrej 2 5%
From this pie-chart we can interpret that 9 stores out of 40 stores has maximum sale of LG
MWO at their store, followed by Samsung(7), IFB(5), Kenstar(6), Onida(4), Videocon(3),
Whirlpool(3), Electrolux(1), Godrej(2).
LG, 9
SAMSUNG, 7
IFB, 5
VIDEOCON, 3
ONIDA, 4
KENSTAR, 6
ELECTROLUX, 1
WHIRLPOOL, 3 GODREJ, 2
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
43/67
43
Demand of MWO Brands
Brands No. of dealers Percentage
LG 15 39%
Samsung 10 25%
Onida 3 7%Videocon 4 9%
IFB 5 12%
Kenstar 3 8%
From the above pie-chart we can clearly get in this research that the brand LG(39%) has the
maximum customer demand in Amravati and Badnera, followed by Samsung(25%),
IFB(12%), Videocon(9%), Kenstar(8%), and Onida(7%).
Maximum margin in brands
Max Margin No of Dealers Percentage
LG 10 25%
Samsung 8 20%
IFB 5 13%
Onida 6 15%
Kenstar 5 13%
Videocon 6 17%
From this pie-chart we can interpret that LG (25%) gives maximum margin to the dealers,followed by Samsung (20%), Videocon (17%), Onida (15%), IFB (13%) and Kenstar (13%).
39%
25%
7%
9%
12%8%
Demand
LG Samsung Onida Videocon IFB Kenstar
LG, 25%
Samsung,
20%
IFB, 13%
Onida, 15%
Kenstar, 13%
Videocon,
17%
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
44/67
44
After sales service
After Sales & Service No of Dealers Percentage
LG 11 27%
Samsung 9 23%
IFB 8 20%Onida 4 10%
Kenstar 4 10%
Videocon 4 10%
From This graph we can interpret that according to the dealers LG (27%) is having the best
after sales service, followed by Samsung(23%), IFB(20%), ONIDA(10%), Kenstar(10%) and
Videocon(10%).
Complaints after sale for different brands
Brands No. of response Percentage
LG 11 27%
Samsung 9 22%
Onida 7 18%
Videocon 6 16%
IFB 1 2%
Kenstar 6 15%
In this research according to the dealers the complaint they get after sale, maximum for
LG(27%), followed by Samsung (22%), Onida(18%), Videocon(16%), Kenstar(15%),
IFB(2%).
27%
23%20%
10%
10% 10%
After sales service
LG Samsung IFB Onida Kenstar Videocon
27%
22%18%
16%2%
15%
ComplaintsLG Samsung Onida Videocon IFB Kenstar
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
45/67
45
Promotional offers
Promotional Offers No of Dealers Percentage
LG 8 20%
Samsung 7 17%
IFB 3 8%Videocon 8 20%
Kenstar 4 10%
Whirlpool 4 10%
Onida 4 10%
Godrej 2 5%
So from this pie-chart we can clearly observe that LG and Videocon(20%) gives maximum
promotional offers followed by Samsung(17%), Onida(10%), Kenstar(10%),
Whirlpool(10%), IFB(8%) and Godrej(5%).
20%
17%
10%20%
8%
10%
10%5%
Promotional offers
LG Samsung Onida Videocon IFB Kenstar Whirlpool Godrej
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
46/67
46
Satisfaction of dealers with pricing strategy of IFB MWO
Satisfied No. of dealers Percentage
Yes 4 80%
No 1 20%
Out of 40 sample size 5 Dealers have IFB brand of MWO at their store. .So according to
them 4 dealers said that they are happy with the pricing strategy of IFB MWO and 1 is not
satisfied.
Findings:- While doing our survey we came across certain facts.
They are the following:-
Videocon gives good promotional offers, yet the dealers complained about its aftersales service, as customers were not satisfied with it.
Apart from LG there are very few dealers who deal in other brands
Few dealers in Amravati mentioned that names of brands that are easy to say like LG,Godrej have maximum customer demand.
In this research its also found that IFB have so less @% complaints after sales so thedealers are happy so sell it. As well as they most are satisfied with the pricing strategyof IFB.
Yes
80%
No
20%
Satisfaction
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
47/67
47
Scope of Domestic Dishwasher
Consumer survey
Sample size=160
Awareness about the product Domestic Dishwasher
Awareness No. of respondents Percentage
Yes 34 21%
No 126 79%
Out of 160 people only 34 were aware about the product dishwasher and the rest 126 were
not fully aware about it. The persons who were aware had an average monthly income of
Rs.30000 and above. They were mainly belonging to higher affluent group who have a
luxurious life style. They were mainly working personnels, professionals, businessmen etc.
Need of the Dishwasher
Need of Dishwasher No of Person Percentage
Yes 58 36%
No 83 52%
Cant not say 19 12%
Out of 160 customers 58 gave positive response that a dishwasher will reduce human effort,
save time, reduce cost and it would be hygienic. And the rest wanted to do their workmanually.
21%
79%
Awareness
Yes
No
Yes
36%
No
52%
Can't say
12%
Need
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
48/67
48
Barrier/ factors affecting while purchase Dishwasher
Barrier No of Person Percentage
Cost of Machine 61 38%
Electricity &
Maintenance
32 20%
Hardness of Water 11 7%
Awareness 46 29%
Convenience 10 6%
From this Pie chart we can clearly observe that 38% of the respondents were concerned aboutthe cost of the machine which starts from Rs.25000 of any brand, 29% were not fully awareabout the product, 20% were concerned about high electricity and maintenance cost, 7% wereconcerned about the hardness of water and rest 6% felt that it more convenient to use
manpower instead of a machine. So the above are barriers which kept the customers frombuying a dishwasher.
Users of Dishwasher
Using No of respondents Percentage
Yes 13 8%
No 147 92%
From above chart it is interpret that in the sample size of 160 there is only 13 (8%) users ofDishwasher and rest are non users.
Cost of the
machine
38%
Electricity &
maintenance
cost
20%
Hardness of
water
7%
Awareness
29%
Convenience
6%
Barrier
User, 8%
Non user,
92%
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
49/67
49
Dimensions which considered while purchase
Dimension No of Person Percentage
Safety 15 9%
Durability 13 8%
Cleanliness 86 54%Convenience 21 13%
After sales service 25 16%
As per the graph most of the respondents preferred cleanliness i.e.86 out of 160 ,then aftersales service i.e.25 ,Convenience i.e.21,safety i.e.15 and finally durability i.e.13.These are thedimensions which the customer has in his/her mind while or before buying a dishwasher.
Customer preference of brand for purchase in future
Customer Preference No of Person Percentage
LG 30 19%
Haier 21 13%
IFB 96 60%
Others 13 8%
Out of 160 respondents 60% have shown interest in purchasing dishwasher of IFB, 19% ofLG, 13% of Haier and rest 8% of other brands.
020406080
100
15 13
86
21 25
Dimensions
LG Haier IFB Any other
Brand preference 19% 13% 60% 8%
0%
20%
40%
60%
80%Brand preference
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
50/67
50
Findings:-
After this survey it is found out few facts from the respondents that:-
Due to the less awareness the machine is not in use, there is less users of Dishwasher. Most of the customers not willing to install this machine which will consume
electricity resulting in high electricity bill.
As the price of the machine starts from Rs.25000,so it not under the budget of most ofthe customers
Few of them also said that after installing they have to spend extra money on itsrunning and maintenance.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
51/67
51
SWOT Analysis of IFB Home appliances
Strength Weakness
Good product quality Durability/performance Good after sales service Brand Equity Premium products
Less brand awareness Less number of dealers so eventually
less availability of IFBs products
Relatively higher price
Opportunities Threats
Scope in FLT as well as in Dishwashersegment
Trust by valued and existing customers Growth in income so the preferences
will change
Competitors low pricing strategy in thesame segment
Aggressive and effective promotionalmarketing initiatives used by
competitors like TV ads, hoardings etc
Preference of customers and dealers ofother brands like LG,SAMSUNG etc.
over IFB
Low labour which provides as asubstitute for the IFB products likedishwasher and washing machine etc
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
52/67
52
FINDINGS
From the research study and responses following are concluding points:-
Most of the customers have gone for purchasing a fully automatic washing machinewith their brand name as well as after sales service also considered in preference of
that brand over other brands in Nagpur.
The after sales service of the brand IFB is good and the most of the customers aresatisfied with IFB products.
There are less complaints of IFB products due to which customers are very satisfied. IFB is perceived as a Premium brand by the customers as well as the dealers, because
the existing customers have more than income of 30,000 Rs. Per month,
IFBs FLT has the minimum complaints in the market of FLT segment (2%) ascompared to Videocon (36%) .
In Nagpur territory LG is the most preferred brand by the customers as well as thedealers
In Nagpur territory LG has the highest sale of its products and provides best aftersales service among all brands available in Nagpur.
IFB have good market potential in different products currently are 20%(FLT WM),15%(MWO), 60%(DW) and it will be also increased in future because of the
customers are preferring for IFB.
Handful of dealers of IFB(availability of IFBS products at various places) is one ofthe major reason for the lack of sale of IFBs products in Nagpurterritory
Dealers of IFB products are quite satisfied with his pricing strategy of MicrowaveOven of IFB.
In Nagpur most of the potential customers of the product Dish Washer are reluctant touse or buy the product due to lack of need or various barriers like cost , cheap labour
etc.
The dealer prices of washing machine, microwave oven of all the brands were notuniform and varied widely from place to place.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
53/67
53
LIMITATIONS
There were certain limitations that we had to face while doing this project. They are as
follows:-
Survey was confined within Nagpur territory only so the outcomes and conclusionsare not applicable for the entire state or country
The sample size was limited to 40 Dealers,160 general customer, so sampling errormight occur or may not be accurate
Many customers and dealers did not entertain it and did not want to disclose theirinternal information.
e.g. Hotel Rajdhani, Hotel Ramgiri, Eagle restaurant etc.
Busy Schedule of the Managers of hotels, restaurants and dealers ,made wait for theappointment dates and hence it delayed the completion of our project
I had limited time for doing the survey ,preparing the reports and completing theproject
In this research only Washing machine, Microwave oven and Dishwasher wereconsidered
There are chances of biasness from the part of dealers and customers towards certainbrands so the ultimate result /conclusion may not be accurate.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
54/67
54
SUGGESTIONS
The various suggestions that we would like to give are as follows:-
The brand promotional techniques like canopies, activities, free service camps, stageshows etc. should be done more regularly to improve brand awareness .
With the BTL, Above the line (ATL) activity also should be done to increase theawareness as well as to retain the maximum customers.
Form new dealers to increase availability of IFB products at various places inNagpur.
Brand promotional initiatives like personal relation, direct contact with customersusing distribution channel should be done.
Improve the ambience and POP in the stores having IFBS product so that thecustomers mind can captured and sales can be promoted.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
55/67
55
BIBLIOGRAPHY AND REFERENCES
Beri G.C.-Marketing research (3rd Edition, TMH)Kothari C.R.- Research methodology (2nd Edition, New
Age international Publishers)
Magazine- 4 Ps of businesss & Marketing, July 2011Company Leaflets and Broucheres
www.ifbindustries.com
www.ifbappliances.com
http://www.corporateinformation.com/Report-Information.aspx
http://www.naukrihub.com/india/consumer-durables/overview
http://en.wikipedia.org/wiki/LG_Corp
http://en.wikipedia.org/wiki/Samsung_Electronics
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
56/67
56
APPENDIX
MWO-MICROWAVE OVEN
FLT-FRONT LOADING WASHING MACHINEDW- DISHWASHER
QUESTIONNAIRE
TO IDENTIFY THE POTENTIAL OF FRONT LOADER
WASHING MACHINE
CONSUMER SURVEY
Dear customer,
As the management trainee of IFB Home Appliances, I want your opinionregarding our product to serve you better. Please dont be biased during
answering following questions.
Name -.
Age: (1) below 25 (2) 2535 (3) 35- 45 (4) more than 45
Gender: (1) Male (2) Female
Income: (1) below 10,000 (2) (10,00020,000)
(3) (20,00030,000) (4) more than 30,000
Profession-
1.Which type of WM you use?
(1) Semi automatic (2) Top loading(3) Front Loading (4) Not Applicable
2. Is your washing machine provides enough features in respect of price ofproduct (Cost vs Benefit)?
(1) Yes (2) No (3) Cant say3.Would you like to change your Top loading washing machine to fullyautomatic Front loading washing machine?
If YES, so please mention here which company will youprefer.
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
57/67
57
4. Rank the following attributes according your preferences by which Frontloading WM is/will be better than current WM
(1) Long Durability ( ) (5) Dirt/Germ free ( )
(2) Fully Automatic ( ) (4) Detergent Saving ( )(3) Water Saving ( ) (6) Clean Washing ( ) (7) Power saving ( )
5. Which brand would you prefer if you supposed to buy front loading washingmachine.
(1) IFB (2) Samsung (3) LG(4) Onida (5) any other specify.
6. Why do you like to choose this company?(1) you see ads in TV
(2) You hear lot about it
(3) You see it in news paper/magazine
(4) others..
7. What mode of purchasing would you like to adopt to buy new WashingMachine
(1) Retailer (2) Online
(3) Brand Outlet (4) Others (plz specify)
8. How much do you feel Front loading washing machine can fulfill yourlifestyle, social, cultural and psychological need?
(1) None (2) 20% - 30%(3) 50% - 60% (4) 80% - 100%
9.According to you in which company you will get multiple ranges in washingmachine
(1) IFB (2) Godrej (3) LG (4) Videocon(5) Onida (6) Samsung
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
58/67
58
TO IDENTIFY BUYING PATTERN OF FULLY AUTOMATIC
WASHING MACHINE
CONSUMER SURVEY
Dear Customer,
As the management student of Sinhgad Business School, Pune. I want
your opinion regarding your product to serve you better. Please dont be biased
during answering following questions.
Name.
Location-...
Age- (1) 18-28 ( ) (2) 29-39 ( ) (3) 40-50 ( ) (4) Above 50
( )
Gender - (1) Male ( ) (2) Female ( )
Income- 15000-25000( ) 25000-35000( ) Above 35000( )
1) Which brand do you choose while buying fully automatic washing machine?(1) Samsung ( ) (2) Onida ( ) (3) IFB ( )(4) LG ( ) (5) any other please specify..
2) While purchasing washing machine what you prefer most?
Quality ( ) Price ( ) Brand ( ) Aesthetics ( )Any other please specify
3) Which brand (washing machine) do you use?
LG ( ) IFB ( ) Samsung ( ) Onida ( ) Any other
4) How much you are satisfied with your washing machine?
Satisfied ( ) Dissatisfied ( )
very much satisfied ( ) some what satisfied ( )
5) Are you aware about washing machine of IFB? Yes ( ) No ( )
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
59/67
59
6) Rank the following brands according to your preference?
Price Quality Features Brand AestheticsLG
IFBVideoconOnidaSamsung
7) Do you recommend your washing machine brand to other?
Yes ( ) No ( ) at some extent ( )
8) How you take purchase decision while purchasing washing machine?
Own decision ( ) through advertisement ( ) Brand Loyal ( )
Peer group suggestion ( ) Brand awareness ( )
9) Have you ever feel gap between your expectations and perceive
performance?
Yes ( ) No ( ) If yes please specify
10) How much you feel your washing machine affect your psychological, Social
and cultural Need?
Very much affected ( ) Some what affected ( ) Not affected ( )
11) Do you wait for sales promotional offer for buying washing machine?
Yes ( ) No ( )
12) To what extent warranty period and other additional services affect yourpurchase decision?
Very much ( ) at some extent ( ) Not affect ( )
13) Any Suggestion you want to give to Washing Machine Company?
Please mention in brief
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
60/67
60
TO IDENTIFY COMPETITORS
RANGE/PRICE/FEATURES FLT VIS A VIS IFB
Dealer Survey
Dear Dealer,
As the management student of Sinhgad Business School, Pune I want your
opinion regarding the product to serve you better. Please dont be biased during
answering following questions.
Name: .
Gender: Male .. Female .
Age: (1) below 25 (2) 2535 (3) 35- 45 (4) more than 45
Q1. Which brands of Front Loading Washing Machine you sale in your shop?LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q2. Which brands has maximum sales in your shop?LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q3 Which type of Front Loading Washing Machine has maximum demand inyour area & Why?
Fully Automatic ( ) Semi Automatic ( )
Q4 In which brand do you get maximum margin? Please arrange in descendingorder.
LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q5. Which brand has maximum demand in this area? Please arrange in
descendingorder.
LG ( ) Samsung ( ) Videocon ( ) IFB ( ) Onida( )
Q6. Which company is providing best after sales service ?LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q7. Which brand gives best sales promotion offers?LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
61/67
61
Q8. Which brand is best in terms of service ability?
LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q9. Do you have authentication/certification of sales after service facility of any
company?
Yes ( ) No( ) If yesplease specify .
Q10. Do you give personal assurance for any brand while selling Front Loading
Washing Machines?
Yes ( ) No( ) If yes please specify..
Please fill this table for Front Loading Fully Automatic Washing Machines of
different companies for comparative study.
LG Price Videocon Samsung IFB Onida
Capacity
5 kg
5.5 kg
6 kg
7 kg
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
62/67
62
TO IDENTIFY POTENTIAL OF MICROWAVE OVEN IN
INDIAN MARKET
CONSUMER SURVEY
Dear customer,
As the management trainee of IFB Company, I want your opinion regarding
our product to serve you better. Please dont be biased during answering
following questions.
NAME
AGE.
GENDER .
OCCUPATION
Q1. Are you aware of Microwave oven?Yes ( ) No ( )
Q2. Do you have microwave oven?Yes ( ) No ( )
Q(2a).IF yes,Which companys Microwave oven do you have?LG ( ) Onida ( ) Videocon ( ) Samsung ( ) IFB ( )
Others (please specify) ..
I. How frequently do you use microwave oven?Once in a day ( ) twice in a day ( ) more than twice ( )
II. Are you satisfied with your Microwave oven?Very satisfied ( ) Satisfied ( ) Neutral ( ) Unsatisfied ( ) Very unsatisfied
( )
III. Would you recommend yours brand of Microwave oven to others?Definitely ( ) Probably ( ) Might or might not ( ) probably not ( )
Definitely not ( )
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
63/67
63
Q (2b). IF No,
I. What you think is major obstacle to buy MWO?
Less awareness ( ) Price ( ) Features ( ) Others(specify)..
II. Then rank the following companys you feel best for Micro wave oven?.LG ( ) Onida ( ) Videocon ( ) Samsung ( ) IFB ( )
III. Which microwave oven will you Prefer most ?Convection ( ) Grill ( ) Solo ( )
Q3.From where do you get information about the consumer durables like
MWO ?
Magazine ( ) News Paper ( ) TV ( )
Neighbor/Colleague/Friends/Relatives ( )
Q4. What mode of purchasing you adopt to buy Consumer durables?
Dealer ( ) Online ( ) Tele shopping ( )
Others (please specify)
Q5. Do you feel that Microwave oven can fulfill your lifestyle, social, cultural
and psychological needs?
None ( ) 20% - 30% ( ) 50% - 60% ( ) 80% - 100% ( )
Q6. Which attributes do you look during purchasing consumer durables?
Quality ( ) Performance ( ) Price ( ) Brand ( ) Aesthetic ( )
Q7. Do you like to buy IFB Micro wave oven?
Yes ( ) No ( )
Q8 Does the price range of IFB Microwave oven affect your buying decision?
Yes ( ) No ( )
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
64/67
64
TO IDENTIFY COMPETITORS RANGE/PRICE/FEATURES
OF MICROWAVE OVEN vis--vis IFB
DEALER SURVEY
Dear Dealer,
As the management student of Sinhgad Business School, Pune I want your
opinion regarding the product to serve you better. Please dont be biased during
answering following questions.
NAME-..
AGE-.
GENDER-.
LOCATION -
Q1. Which brands of Microwave oven you sell in your shop?
LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q2. Which brands has maximum sales in your shop?
LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q3 Which type of microwave oven has maximum demand in your area & Why?
Convection ( ) Grill ( ) Solo ( )
Q4 In which brand do you get maximum margin? Please arrange in descending
order.
LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q5. Which brand has maximum demand in this area? Please arrange in
descending order.
LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q6. Which company is providing best after sales service ?
LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
65/67
65
Q7. Which brand gives best sales promotion offers?
LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q8 Please specify the prices as per capacities of following brands?
Capacity Videocon LG Samsung Onida IFB
17
20
22
23
25
2830
38
Q9 How much complain you got for each brand after sale?LG ( ) Samsung ( ) Onida ( ) Videocon ( ) IFB ( )
Q10 Do you have authentication/certification of sales after service facility ofany company?
Yes ( ) No( ) If yes please specify .
Q11 Do you give personal assurance for any brand while selling Microwaveoven?
Yes ( ) No( ) If yes please specify..
Q12. Do you sell IFB Microwave oven?Yes ( ) No( )
If yes IFB sales performance during last year.Increasing ( ) Decreasing ( ) Constant ( )
Q13. Are you satisfied with pricing strategy of IFB?Yes ( ) No ( )
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
66/67
66
MARKET SURVEY
I am students of SINHGAD BUSINESS SCHOOL, Pune, Maharashtra,
pursuing my MMM and conducting a market survey on Scope and Potential
of Domestic Dishwasher ofIFB APPLIANCES in the market of NAGPUR.
So I would require your kind co-operation and suggestions. Facts, information
and suggestions provided by you will be very helpful for us in conducting the
research and completing our project.
The details provided by you will only be used by us for our research
purpose only and the details will not be disclosed to anyone else.
Your Name:-..
Location:-.
Contact Details-
Phone/Mobile no-
E-mail id-
1) Your age?(a) 20-30years (b) 31-40years (c) 40years and above
2) Gender(a) Male (b) Female
3) Your income (in rupees)?(a) 0-15000 (b) 15001-30000 (c) 30000 and above
4) Are you aware of the product dishwasher?(a) Yes (b) No
5) From where did you get information about Dishwasher?(a) Magazine (b) Newspaper (c) Television(d) Other Please specify __________________________________
6) Do you use Dish Washer?(a) Yes (b) No
-
8/2/2019 IFB Project Abhishek NathTiwari 1 (2)
67/67
7) If yes then of which brand?Answer:-
(i) Are you satisfied with the existing product?
(a) Very satisfied (b) somewhat satisfied (c) not satisfied
(ii) How often do you wash your dishes on daily basis?Answer:-
(iii) If no then what is the barrier that is keeping you away from buying adishwasher?
Answer:-
8) A dish washer machine reduces human effort and saves time, it ishygienic and cost effective so wouldnt it be more convenient for you toget a dish/glass washer installed at your place?
(a) Yes (b) No (c) Cant say
9) On what dimensions would you like to use a dish washer?(a) Safety (b) Durability (c) Cleanliness(d) Convenience (e) After sales service
10) How much do you feel Dish washer compliments your lifestyle, social,
cultural and psychological need?(a) 100-75% (b) 75-50% (c) 50-25% (d) 25-0%
11) If you wish to purchase a dish washer then which company will youlike most?
(a) Haier (b) Whirlpool (c) IFB(d) any other brand please specify..
12) What is your opinion about the dishwasher of IFB?
Answer:-
13)Any suggestions please...