Ppt on LG, Richa Garg.

TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name

Title: MARKET ANALYSIS OF LG CONSUMER DURABLES

NAME:RICHA GARG

PROGRAM: BBA-VI Sem (II Shift)

ENROLL. NO: 0592131708



CONCEPT OF MARKET ANALYSIS

Marketing deals with identifying and meeting human and social needs. One of the shortest definitions of Marketing is “Meeting needs profitably.

Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relations in ways that benefit the organization and its stoke holders.

MARKET ANALYSIS The goal of a market analysis is to determine the attractiveness of a market, both now

and in the future. Organizations evaluate the future attractiveness of a market by gaining an understanding of evolving opportunities and threats as they relate to that organization's own strengths and weaknesses



Objectives of Study

The objective was to find out the : Market share of LG products. Advantages, and disadvantages of LG products from dealers and to find out what

problems they are facing with the LG products so that problems can be resolved to increase the sale.

To know that why people buy LG products.



Research Methodology

Research Type :

a) Descriptive Research:-Descriptive studies are undertaken in many circumstances when the researches is interested to know the characteristic of certain group such as age, sex, education level, occupation or income. Descriptive studies are well structured.

Sampling Design: convenience sampling. Sample Size: 50 Sample Location: Rohini. Research Instrument: Questionnaire , personal interviews, websites , newspaper and

magazines. Analytical Tool: PIE charts.



DATA ANALYSIS

PIE chart showing purchasing of consumer durables during exhibitions

Response Number of Consumers

Yes 18

No 32

TOTAL 50



PIE chart is showing parameters affecting consumer preferences while purchasing.

Parameters Number of Consumers

Brand 13

Product Feature 9

Price 15

Durability 5

Service 8

Total 0



PIE chart is showing reasons for buying from a particular place

Reasons Number of Consumers

Offers 7

Attractive prices 12

Demonstarion 7

Service 13

Convienience 11

Total 50



PIE chart is showing consumer durables of LG owned by customers.

PIE chart is showing consumer durables of LG owned by customers.

14%

38%24%

8%

16% LCD

Refrigerator

Washing machines

Microw ave

AC

Consumer durables Number of Consumers

LCD 7

Refrigerator 19

Washing machine 12

Microwave 4

AC 8

Total 50



PIE chart is showing frequency of changing consumer durables in years.

Time Number of Consumers

1-3 years 2

3-5 years 10

5-10 years 27

More than 10 years 11

Total 50



PIE chart is showing preference of financing scheme while purchasing consumer durables.

90%

0%

10%

Yes

No

Can't Say


Yes 5

No 45

Can’t say 0

Total 50



PIE chart is showing products which consumers find limited at the store.

6%14%

50%

30%LG refrigerator

LG television

LG mobile phone

LG stereo system

Products Number of Consumers

Lg refrigerator 3

Lg television 7

Lg mobile phones 25

Lg stereo system 15

Total 50



PIE chart is showing customer satisfaction related to staff service

86%

14%

Yes

No


Yes 43

No 07

Total 50



Research Findings

From the survey it was found out that the majority of customers don’t buy consumer durables from exhibitions. They just visit the exhibitions to see the co. latest model.

30% of customer gives importance to price.26% give importance to brand. 19% to product feature Service and so on.

most people purchase refrigerators of LG followed by washing machines and so on while microwaves holds the least place.

Customers prefer to change consumer durables within 5-10 years. In India people do not change consumer durable frequently.

Also majority of customers do not want any financing scheme for purchasing the durables. According to the survey, LG lacks in mobile phones variety followed by stereo systems. Its refrigerator

and television range is good and satisfying. Customer satisfaction as far as staff services is concerned is satisfying and most of the respondents have

found it on a good basis



Recommendations

LG should improve it’s after sale service because its hits badly LGs market share. More detailed customaries service is to be provided. Customer considers quality as their first preference, so the company should give more stress on this. The product is well aware and it is on top of mind of customer. So company should always improve

services and update their technology. The marketing managers should make better relations with dealers and reputation of the company.



Bibliography

www.lgindia.com www.google.com www.wikipedia.com LG magazine www.gadgets.com

Ppt on LG, Richa Garg.

Documents

Transcript of Ppt on LG, Richa Garg.