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PREFACE
Marketing is merely a civilized form of warfare in which most battles are won with words, disciplined thinking, and power of original ideas; forward vision and quick action coupled with keeping in mind the customers desires.
Marketing occupies an important position in the organization of business unit. Traditional view of marketing asserts that the customers will accept whatever product the seller present to them. In this way the main concern of producer is to produce without considering the choice or the behavior of the customer. But this view of marketing has now changed. The modern concept may be viewed from the customers point of view. Marketing is centered on the customer. Producer does not produce whatever he likes but whatever consumers want.
The product is the most important tool in the marketing mix, without a product there is no question of marketing. The whole marketing programme is based on the product.
The buyer purchases a product only because it serves the customer by satisfying his needs and desires and therefore he/she pays for it. Thus a product is a potential utility because customer is more interested in the benefits he gets from the product rather than the product characteristics in a physical sense.
DECLARATION
I do here by declare that this piece of project report submitted by me at Centre For IT Education, Bhubaneswar, for the fulfillment of Master Of Business Administration (MBA) 1st year summer project (session: 2007-2009) under Biju Patnaik University Of Technology (BPUT), Orissa is a complete work of my own effort. This report or similar report on the topic has not been submitted for any other examination and doesnt form part of any other course under gone by me.
Name:-
ACKNOWLEDGEMENT
With unbound pleasure I Manas Ranjan Behera (MBA), a student of Center For IT Education, Bhubaneswar present this project report on Consumer Perception on Color Television sets: A Survey On Videocon T.V. sets with reference to Videocon Industries ltd,
Bhubaneswar. It has been a challenging experience to explore this topic & work in such a dynamic well- known and establishment organization. It has been a great learning experience. I am indebted to Mr. Bijay Adhikari (Marketing Head of Videocon Industries Ltd., Bhubaneswar) for lending his help & experience to me to be able to make a successful project could not have attended this dimension. I am equally grateful & also like to expand my thanks to Mr. (Faculty subject here) for his valuable suggestion & advice. And without his kind co-operation this project would not have been completed. I would like in addition to express my sincere gratitude to all the faculty members of our institute for their enlightment & guidance at every step. I am equally thankful to all the staff members of Videocon, Bhubaneswar for their invaluable time and co-operation, service & timely help & providing of necessary data & information. Without which this project could not have been developed.
CONTENTS
Chapter No. Page No. Contents
Chapter-1 Chapter-2
Company profile Research methodology Objective and Scope of the study Why I choose this topic 18
Chapter-3 Chapter-4
Literature Study Questionnaire and Analysis SWOT analysis Limitation Findings Suggestions Conclusion
Chapter-5
HISTORY OF VIDEOCON:
Late Shri. Nandlal Madhavlal Revolution. Dhoot Founder, The Videocon Group ( 26 February 1932 - 26 April 1993 ) A man of Ideas. A man of Substance. A man of Vision.
The die was cast. Over the years, Nandlalji's pathbreaking attitude found expression in a myriad ways, earning him the well-deserved reputation of the pioneer of industrial activity in Marathwada India. In early 80's Nandlalji initiated his three sons Venugopal, Rajkumar and Pradeep into business. Through a technical tie up with Toshiba Corporation of Japan, he launched India's first world-class color Television: Videocon. Today, Videocon is household name across the nationIndia's No. 1 brand of Consumer Electronics & Home Appliances, trusted by over 50 million people to improve their quality of life.
Venugopal N Dhoot
Chairman
Videocon
Home Appliances, Colour Picture Tube Glass, and Oil & Gas. Videocon was founded in 1987 by Nandlal Madhavlal Dhoot. At that time it used to manufacture TV and Washing Machine. In 1989-90, Videocon started manufacturing Home Entertainment Systems, Electric Motors & AC. Videocon entered Refrigerators and coolers segment in 1991. In 1995, Videocon started manufacturing Glass shells for CRT and in 1996 it ventured into Kitchen appliances and crude oil segment. In 1998, Videocon started manufacturing Compressors & Compressor Motors. In the year 2000, Videocon took over Philips Color
Television Plant. In 2005, Videocon took over 3 plants of Electrolux India and acquired Thomson CPT. today; it has evolved into a giant conglomerate with annual revenues of over U$4.1 billion.
One of the few companies in the world to convert sand to TV One of the largest and most acknowledged CPT manufacturer in the world Manufactured India's first rust-free Washing Machine
OUR NETWORKS:
MILESTONES OF VIDEOCON:
1987 1989-1990
Color & B/W TV Washing Machines Home Entertainment Systems Electric Motors AC
Refrigerators Coolers Glass Shells for CRT Kitchen Appliances Crude Oil Compressors Compressor Motors Philips Color TV Plant Takeover Electrolux India 3 Plants Takeover Thompson CPT acquisition Sansui & Akai Takeover
Electrolux AB Sweden
1.ODM & Indian Market 2.Sourcing of components for Global Market 3.ODM for Global market
VIDEOCONS PRODUCTS
Our Vision:
1. To become the No.1 Service Provider in India. 2. To build a brand around substance. 3. To communicate simple truths that customers understand. 4. To become a leader in our chosen field and become a globally recognized, prestigious company through synergistic business investment, differentiation through innovation, passion through empowerment, cost through economies of scale and world class systems.
Our Mission:
5. To ensure Total Customer Delight by offering prompt and quality services 6. Contribute to product quality improvements 7. Train service force continuously on field requirements 8. To build the image of customer service and to ensure bench marking of all functional areas with the best in the trade
Our Objectives:
1. To restructure the service network in terms of automation, infrastructure and manpower to meet the best of service requirements and to minimize service response time as per market trends. 2. To establish the service organization as a value addition to the brand and to provide total customer convenience and satisfaction at par with or better than the best in the trade.
Service Network
Branch Franchisee
Customer Care
Complaint Registration Service Charges
24 Hrs Support
Call Centers
Smart Care
Customer Benefits AMC Registration
FUTURE PLANS:
To strengthen and maintain & its leadership status, the Videocon group has clearly charted out its course for the future. Aggressive development is in full swing at the R &
D Centres to bring out state-of-the-art technologies including True Flat, Slim, Extra Slim, Plasma & LCDs, at the earliest. Cost rationalization processes - are in various stages - including rationalizing factories in Europe, increasing automation and improvement of efficiency in China, accessing flass shells from India for international CPT facilities and a lot more- are in various stages of implementation. Internationally all existing client relationships are being strengthened. The cost competitiveness and increase in capacity in Mexico and Polland has opened up big opportunities in the OEM business. Last but not the least, in the domestic market consolidation with multiple brands paves the way for an unassailable lead in the market. In the Oil & Gas business, having all the basic operator capabilities of a prospecting entity, the group is looking to add more explorations and production depth as also oil bearing assets. The group will also get into gas distribution in India significantly.
Research methodology
Research signifies careful investigation or inquires specially through search for new facts in branch of knowledge. So in general research is the process searching again until reach at the solution of a problem. Research conducted for getting root of a problem through the application of scientific procedures. Research methodology is a way to systematically solve the research problem. In other way it may be the science of conducting research in scientifically methods. Research methodology not only indicates the research methods but also it signifies the logic behind it the methods. We use in context of our research study & explain why we are using the particular method or technique & why not others. So that research result can evaluate by the researcher himself.
Primary Data
Primary data is otherwise known as first hand data/direct data. Primary data collection is directly collected data from the field. Primary data can be collected through various ways such as: 1. By observation 2. Through personal interview 3. Telephonic method 4. Questionnaires
Among all these method, true & exact data can be get through the questionnaires & personal interview.
Secondary data
Secondary data is otherwise known as second hand data which is already available.
In my project I got the primary data from market survey with the use of
questionnaires method.
Also I got some secondary data from various dealer points by
personal
interview method
Area of survey
The survey was conducted in Bhubaneswar market.
Objectives
1. To know the market share and heart share of Videocon T.V. in Bhubaneswar
market. 2. To know the satisfaction level of existing customer of T.V. 3. To know the factors that attracts the customer to purchase the Videocon T.V. 4. To find out the potential customer of Videocon as well as Videocon T.V. in Bhubaneswar market.
Scopes
1. Geographical scope of the study is only main part of Bhubaneswar market.
2. Also this study will help to know the T.V. of various brands. 3. Also it will help to know the brand awareness level of existing & non-existing customer of Videocon T.V. and their preference. 4. The main scope of this study is to indicate the market share of Videocon T.V. in Bhubaneswar market. 5. This study will show the lacunae of company as compared to competitors, so that adequate strategies can be implemented & to indicates its market share & maintain its brand existence in market.
Analysis:
From the survey it has been found that Videocon has market share of 17%. SAMSUNG has been found to be the market leader in television sector.
Since 1 Yr. Since More than 10 Yr. 28% Since 1 Yr. 12% Since 2 Yr. 18% Since 5 Yr. 20% Since 2 Yr. Since 5 Yr. Since 10Yr. Since More than 10 Yr.
Analysis:
From the survey it has been found that day by day the selling of Videocon washing machine. has been decreased. Now it has been reached to its decline stage. It needs so many changes so as to be get rid of decline stage.
14 OUTDOOR ADVERTISEME NT
43 16 20 14 7
TV ADVERTISEME NT
NEWS PAPER
SOURCE
Analysis:
The survey says washing machine is the best media to reach to people. From T.V. advertisement most of people are getting knowledge about the product. Hence company should give more emphasis of T.V. advertisement so that it can raise its market share by reaching to the peoples mind and heart.
Q.4 WHICH ATTRIBUTE OF THE PRODUCT DID ATTRACT YOU TOWARDS THE PRODUCT BEFORE PURCHASE?
a) PRODUCT FEATURES
FRIENDS
b) c) d) e)
14% 8%
25%
25% 28%
REFERENCE
Analysis:
It has been found that peoples are getting attracted towards Videocons washing machine before purchase due to product features and price. Brand name has also a greater impact in the peoples mind. Dealer network is not so worthy for people to choice Videocon washing machine Also people are buying this product with any reference like assurance from friend or neighbour etc.
Q.5 WHILE PURCHASING THE PRODUCT WHICH ATTRIBUTES YOU DID COMPARE WITH OTHERS PRODUCT?
a) b) c) d) e) PRODUCT FEATURES PRICE AFTER SALE SERVICE AVAILABILITY OF THE PRODUCT GOODWILL
12%
2% PRODUCT FEATURES PRICE 41% AFTER SALE SERVICE AVAILABILITY OF PRODUCT GOOD WILL
9%
36%
Response: (Attribute that a person compare with others brand & No. of respondent)
a) b) c) d) e) PRODUCT FEATURES PRICE AFTER SALE SERVICE AVAILABILITY OF THE PRODUCT: 12 GOODWILL : 41 : 36 :9 :2
Analysis:
From the survey it has been found that while a person is buying a Videocon washing machine he/she is comparing the products features with other brand and then he/she is coming to the price part. This says people are more cautious about the product features and price rather than goodwill of company or availability of the product. Also some people are comparing most after sale service of the product.
Q.6
Analysis:
From the survey, various features are coming into account which has been appreciated by the people. For example some people are saying its picture quality is excellent, some are in favor of sound quality, some like its convenience of the product and some are in satisfied with price and many more.
PERCENTAGE
23
21
17
S A TIS FIE D
: : : :
23 39 21 17
Analysis:
Survey says about 39% of people using Videocon washing machine. are satisfied with the product. Also there are some people who are dissatisfied with the product up to some extent. But overall survey regarding satisfaction says people are comfortable with the product.
MAJOR OF CONVENIENCE
40 35 30 25 20 15 10 5 0 36 28 20 16
PERCENTAGE
HIGHLY SATISFIED
SATISFIED
MODERATELY SATISFIED
DISSATISFIED
TYPE OF SATISFACTION
Analysis:
Most of the people are highly satisfied with the use of product. They feel more convenient with the use of product comparing to other brand. Also some people about 16% are dissatisfied on convenience with use of product.
MAJOR OF PERFORMANCE
40 35 30 25 20 15 10 5 0 37 30 20 13
PERCENTAGE
HIGHLY SATISFIED
SATISFIED
MODERATELY SATISFIED
DISSATISFIED
TYPE OF SATISFACTION
Analysis:
The survey says people are mostly satisfied with the performance of the Videocon washing machine. Also about 30% of the people are highly satisfied with the product. There are also some people who are dissatisfied with the product
Analysis:
According to survey about 62% of Videocon washing machine. users are enjoying the value for the money from the product while about 28% people says No. That means most of the people are getting equal return on expense for buying the product .
CAN'T SAY 7%
Analysis:
With the comparison of the Videocon washing machine. with other brands most of the people using Videocon washing machine are saying that this product is better than the other brands. Also about 41% of the people are saying that this product is not better than other brand.
NO 61%
Analysis:
According to the survey, Videocon washing machine requires more maintenance as compare to other brands. About 27% of users says yes while 61% of users say no that this product require frequent maintenance. This means there is certain problem with the product as it is requiring frequent maintenance.
Q.13
NO 51%
B- NO C- CANT SAY
: 51 : 14
Analysis:
According to the survey about 51% of Videocon washing machine users are not interested with the other consumer durable electronics product of the similar brand. There may be some reason for this response like more maintenance etc. there are also 35% of users who are interested to use another product of same brand.
CAN'T SAY 8%
: 53 : 39 :8
Analysis:
According to the survey, about 53% of users of this product are saying Yes that the products performance is matching as promised by the company. This says company is reliable about features. Still there are 39% of the users are saying No about the performance matching.
YES 44%
NO 40%
Analysis:
From the survey it has been found that about 44% of the Videocon washing machine users are referring other people to buy the same product of product of same brand while about 40% of the user not referring to others. They are denying others to buy the product of same brand. Also 16% of the users are not giving any comment towards this matter.
2% 23%
10%
Analysis:
According to the survey, about 37% of the respondents are saying good about the after sale service of the company. Only 2% of the respondents are saying excellent for after sale service. Also 23% of the people are not satisfy with the after sale service.
19%
6%
24%
28% 23%
Analysis:
From survey most of the people (28%) are saying fair about the distribution channel of the company. There are also some people (19%) are not satisfied with the distribution channel of the company.
4% 20%
16%
32%
Analysis:
About 28% of the respondents are saying good about the promotional activity of the company where there are very few people that is about 4% of the respondents are not satisfied with the promotional activity of the company. Around 16% of the respondents are feeling excellent about the promotional activity.
Q.20 THE BEST WAY FOR INFLUENCING CUSTOMER TO USE PURCHASE THE COMPANYS PRODUCT WILL BE?
a) b) c) d) e)
SEND POST PURCHASE THANKS LETTER TO OFFER GUARANTEE DISPLAY ITS PRODUCT SUPERIORITY ADVERTISEMENTS REASSURE CUSTOMER WITH BETTER COMPETITION CREATE A WIDE RANGE A TARGET MARKET
W YO IN L E C GC S O M R A F F U N IN U T R E
A B C D E
Analysis:
From the survey it has been found that most of the respondents (32%) are in favor of getting guarantee where as few of the respondents are saying that company should increase its target market. About 21% of the people are interested for post purchase thanks letter from letter.
LITERATURE Study
Customer Satisfaction:
Satisfaction is the customers feelings of pleasure or disappointment resulting from the product or services after comparing between perceived performances to its expectations.
Performance and, where the buyer satisfied after purchase depends upon offer performances in relation to buyer exception. If the performance falls below the expectations then the buyer unhappy or dissatisfied, and when the performance match with the expectation then customer feel became delight or highly satisfied with the product. This satisfaction leads to emotional bond with brand and become brand persistence those are much less ready to switch over to another brand of product. This brings the result in highly customer loyalty. In case of dissatisfaction with a product, then it is easy to switch over to another product, when a better offer comes.
Consumer Behavior:
The aim of marketing is to meet and satisfying the target customers needs and want. Customers Behavior is the study of the processes involved when individuals or groups select purchase, use or dispose of product service ideas or experiences to satisfy needs or desires. Needs or desires are not specific. It ranges from hunger and thirst to love, status or even spiritual fulfillment. Consumers are actors on the market palace stage. They take lead role in the market. Whole market or business transaction is based on the consumer before this whole market situations change presently, it is the Buyers market. The selling and buying process confined on the consumer. Marketers given importance on the taste and performance of consumers. They try to fulfill the needs and satisfy them by delivering goods and providing better services.
Consumer behavior is the ongoing process, it has never ends. It reflects the interaction between the consumer and producer at the time of purchase. It is continuous process that not only remains at the time of transaction or buying or selling period before this and after that also. The attitude towards the products before buying is known as pre-purchase behavior and response found from consumer after using the product is known as post-purchase behavior of customers. In other words we can define it as the process of decision making of activities that the customer doses at the time of evaluating, acquiring or using goods and services.
Buying Roles:
Consumer team refers to any one who involved in the activities of evaluating, acquiring, using or disposing of the goods and services. We can distinguish five role people might play in the buying decision. They are as follows: Initiator: A person who first suggest buying the product or services.
Influencer: A person whose view or advice influence the buying decisions Decider: A person who decide buying decision like where to buy, how to buy, what to buy etc.
Buyer:
The persons who actually purchase the products, he may be use or not.
User:
services.
Buying Behavior:
Consumer decision making process varies with the type of buying decisions. Complex and expensive purchases are likely to involve more buyer deliberation and more participative. Complex buying behavior is one of them. It is a three steps process:
The buyer developed belief about the products. He or she made attitude about the products. Make a thoughtful choice. Consumer engages in the complex buying behavior when they are involved in a
purchase and aware of significant different among the brands. This case place usually when products is highly expensive and infrequently, risky.
The marketer of high involvement product must understand consumers information and evaluation behavior. The marketer should develop such strategies so that it will help the consumers about the products and its brands features and relatives importance. The marketer needs to differentiate the brands features by using print media to brands benefits and motivates sale personnel to influence customer for final brand choice.
The consumer passes through five different stages of a typical buying process.
Problem recognition: The buying process starts when the buyer recognizes a
problem or need. The can be felt by internal and external stimuli.
Evaluation of alternatives. Purchase decision. Post purchase Behavior: After purchasing the product the consumer will
experience some level of satisfaction or dissatisfaction. It can be classified into post purchase satisfaction post purchase action post purchase use and disposal.
Cultural Factors:
Social and group forces determine the way we think, belief and add great extent, individuals buying decisions are also affected by the Special Forces thats surrounds him/her. Here culture most direct impact on the buying behavior.
Culture:
Culture is the most fundamental of a persons wants and behavior. His/her perception preference and behavior changes through his/her family and other key institution. He/she wants progress material comfort individualism freedom external comfort ness and youth ness.
Sub-culture:
Each sub-culture consist f smaller sub-culture that provides more specific identification and socialization for each member. Sub-culture includes nationalities, religion, racial groups and geographical regions many sub-cultures make up important market segment and marketer often design of product and marketing program tailored to their needs.
Social Class:
These are relatively homogeneous and enduring divisions in society which is hierarchically ordered and whose members share similar values, interest behavior.
Social Factors:
It is also play important role in Buyers behavior. It includes
references group,
Reference Group:
It consists of all the groups that have a direct and indirect influence on the persons attitude and behavior. The groups having a direct influence on a person are called membership group. It may influence either the purchase of products or selects of a particular brand or both of them also.
Family:
Family member is the most influencing primary reference groups its influence buyers behavior. Family has direct impact on the purchase behavior of individuals.
Personal Factors:
A buyers decision also influenced by personal character like buyers
age and
stage in life cycle, occupation, economic circumstances lifestyle and personality and self concept.
Life Style:
A life style is the person pattern of living the world as expressed in activities, interest and opinion. Marketers search relationship between their products and life style groups marketers target the brand more clearly are the achiever life style.
Personality
is
distinguishing
psychological
characteristics.
Personality
is
individuals pattern of traders that influence behavior responses related to personality is persons self concept. Marketers tries to develop brand images that match the target markets self images i.e. self concept
Psychological factors:
A persons buying choices are further influenced by four major psychological factors. These are motivation, perception, and learning and belief attitude. These are playing vital role in buying behavior of the consumer.
Motivation:
A motive is the need that is sufficiently pressing to drive the person to act. Needs arises from psychology states of tension such as hunger, thirst, discomfort. They arise from psychology state of tension such as the need for recognition, esteem or belong. So motivation is one of the major factors which push the persons towards going for a product.
Perception:
It is the process by which an individual selects, organizes and interprets information to form a meaningful picture of the world. A motivated person is ready to act. The persons act is influenced according to the perception of the situation. Perception depends on the physical and environmental stimuli and the condition within the individuals. People tend to perceive objects in terms of their exceptions. So here decision regarding purchase is effective by perceptions
Learning:
It is a continuous process, its changes individuals behavior arise from experience. A person from the interplay of drives stimuli, cues responses and reinforcement, consumer learn to discriminator between very similar uses of stimuli.
Through learning people acquire attitude and beliefs. These influence buying behavior. An attitude is emotional feeling about an objects or idea. While beliefs is descriptive thought about something. So company hires well known celebrity to endorse their product.
From the above fact it is clear that a persons purchase choice is the outcomes of cultural factors, social factors, personal factors and psychological factors. Besides this other factors also take important role in buying decision like marketer influence by developing Marketing mix such as product, price, place and promotion to attract strong consumer response.
things about brands not purchased. To counter such dissonance, the marketers aftersale communications should provide evidence and support to help consumers feel good about their brand choices.
purchase decision, and post purchase behavior. Clearly, the buying process starts
long before actual purchase and continues long after. Marketers need to focus on the entire buying process rather that on just the purchase decision Need Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Bibliography
Author name
Philips Kotler V.S. Ramaswamy & S. Namakumari
book name
Marketing Management Marketing Management-Planning & implementation
WEbliography
www.videoconindia.com
www.google.com www.answers.com