Dr. Sarla Achuthan

Our group members are heartily thankful to the director of our college, Dr. Sarla Achuthan for assigning us such task of working on a project which helps us to apply theoretical concept studied in the classroom. After working on such a practical project we come to know that how management concepts can be applied in real world. We want to grab this opportunity to acknowledge our sincere thanks to our sincere thanks to our project guide Ms. Deepa Vyas, without whose guidance and motivation this project would have not been succeeded. We are very much thankful to all those People who gave their precious time and elp us to collect the data and make this project physible. At the end we are thankful to the Almighty for his divine support and our parents for their moral support.“Practical knowledge is like a candle that leads the way through dark passages of ignorance. ” -This saying has played vital role and guided us throughout the project-work. The purpose of preparing this project-report is to get an idea about the way work is actually done in an organization. “Knowledge includes practical knowledge as well as theoretical knowledge. -Theoretical knowledge needs its practical application to make a human being a complete person. Marketing management can’t be learnt inside the classroom but it has its own scope for field study. The preparation of this project –report is a part of practical studies in M. B. A. In order to fulfill these objectives, we have come up with the team effort presenting an in depth feasibility report had provided us with an opportunity to get a glimpse of the working on LCD/LED T. V. We have put our efforts and tried our level best to present this project-report based on our research.This project work has sharpened our practical application of market research work, communication skill, thinking ability, co-ordination, team work, etc. II EXECUTIVE SUMMARY * We started with analyzing the concept of a product which is LCD/LED TV. And we got some basic idea about our project. We analyzed the LCD/LED TV combine and not differentiate it though it differs in terms of technology. * After analyzing the idea we discovered the history of the product as well as some manufacturing companies. * Then comes one of the major task which is discovering the 4 Ps of marketing which includes all the concepts of marketing i. . Product, Price, Place, and Promotion. * All this information was followed by preparing a suitable questionnaire so we can effectively communicate with the customers and dealers of the product. * After that we did survey among 500 people for gathering the information regarding our project. * Here comes the most difficult task of our project that is analysis of the information that we collected from different people. * We made the graphical presentation in form of bi-variant data and semi variant data for easy comparison and understanding we have worked out the inferences and interpretation of each to explain the facts. To sum up we concluded our project with all the information that we found and our views about the future of the market. III * 1884: The first electromechanical television was proposed and patented by Paul Julius Gottlieb Nipkow. Nipkow never built a working model of the electromechanical television. * 1888: Liquid Crystals were accidentally discovered by Friedrich Reinitzer. Liquid crystals were a scientific curiosity for about 80 years before they were used to build liquid crystal displays (LCD). * 1964: The first working liquid crystal display (LCD) was built by George H. Heilmeier.The original LCD displays were based on what is called dynamic scattering mode (DSM). * 1972: The first active-matrix liquid crystal display (LCD) panel was produced by Westinghouse. * 1988: The Sharp Corporation develops the world’s first 14-inch color TFT LCD TV. The LCD TV model was called the Crystaltron. * 1995: The world’s largest LED display, the Fremont Street Experience, in Las Vegas is over 1,500 ft. long and 90 ft. high at the peak. * 2009: The world’s largest LED high-definition video display screen in the world is the Mitsubishi Diamond Vision display at the Dallas Cowboys Stadium.The LED HD display measures 160 ft wide and 72 ft high and is nicknamed the “Jerry Torn” after Cowboys owner Jerry Jones. * 2010: The world’s first 3D LED HDTV released by Samsung (Samsung 3D LED 7000). Announced in February, 2010. LG announced the release of their first 3D LED HDTV, the LG LX9500 in March, 2010 Now time has passed away when we were talking about flat TV and LCD TV now on everyone’s mouth is speaking about LED TV. The new technology is not so unique but the way of presenting the technology is fantastic.Years back there was craze of LCD screen but now everyone wants to know about LED TV and its features. Many multinational television manufacturer corporation are now are moving towards the bumper and grand marketing of LED TV. The LED TV is modernized way to represent LED backlight LCD TV. Removing fluorescent lights that were used in old traditional TV sets now LED backlighting is used. Basically the LED comes in two different forms, white edge LED located around the rim of the monitor or screen which use a distinct diffusion panel to distribute the light consistently at the back of the screen.The other is the dynamic RGB LEDs which is also positioned behind the pane. Instead of (LCD-CCFL) mostly used in televisions, TV manufacturer companies can use LED backlight. LED are LCD based TV and are totally different from AMOLED, self illuminating OLED or OEL display technology. The different types of LED backlighting offer different benefits. Sony Qualia005 introduced in 2004 was the first commercial LCD TV with LED backlit. The major function of LED is to produce better contrast and even more detailed picture in the dark areas. The LCD TV is quickly being replaced by the LED TV.LED TVs use light-emitting diodes instead of fluorescent backlighting to produce superior image quality. LED TVs can also be made thinner than LCD displays. For Picture Quality: If you want the best in picture quality among LED TVs, technically it will have to be one that has full-array back lighting with local dimming. The individual zones of LEDs can be dimmed or brightened independently, making it more flexible and suitable to an individual’s taste and preference. Comparing side by side, LED TVs generally have better black levels and contrasts than their LCD counterparts.Color accuracy is also slightly better on an LED TV. While LCD TVs are no slouch on color accuracy, compared to an LED TV, the latter has a slight advantage. For Energy Efficiency: If power consumption is a major concern then what you need is an energy efficient television. LED TVs get the vote here as it is using less light to display its pictures. These are designed to produce a better quality pictures while also using less power than LCD models. For Price: If the price tag is of major concern, LCD TVs are the obvious choice as their prices have gone down ever since LED TVs started becoming more main stream.For Size: In terms of size, LED TVs are slimmer compared to LCD TVs but not by much. LED lights can be installed in smaller places, allowing manufacturers to trim out some unnecessary weight. For Gaming and Home Theatre: Planning to hook up your game console to your monitor? LCD TVs in the long run are recommended by many as the better choice since heads-up display (HUD) elements in some video games may create ghostly permanent images on the screen when used for a long time. Masaru Ibuka, the co-founder of Sony. Sony Group Headquarters at Sony City in Minato, Tokyo. Formats and Technologies: In 1968 Sony introduced the Trinitron brand name for its lines of aperture grille cathode ray tube televisions and (later) computer monitors. * In 1975, Sony launched the Betamax videocassette recording format. * In 1979 the Walkman brand was introduced, in the form of the world’s first portable music player. * 1982 saw the launch of Sony’s professional Beta cam videotape format and the collaborative Compact Disc (CD) format. * In 1983 Sony introduced 90 mm micro diskettes which it had developed at a time when there were 4″ floppy disks and a lot of variations from different companies to replace the then on-going 5. 5″ floppy disks. Sony had great success and the format became dominant; 3. 5″ floppy disks gradually became obsolete as they were replaced by current media formats. * In 1983 Sony launched the MSX, a home computer system, and introduced the world to the Compact Disc (CD). * In 1984 Sony launched the Discman series which extended their Walkman brand to portable CD products. * In 1985 Sony launched their Handycam products and the Video8 format. Video8 and the follow-on hiband Hi8 format became popular in the consumer camcorder market. In 1987 Sony launched the 4 mm DAT or Digital Audio Tape as a new digital audio tape standard. * In 1988 launched Magneto-optical discs which were around 125MB size for the specific use of archival data storage. * In 1993, Sony introduced the Minidisc format as an alternative to Philips DCC or Digital Compact Cassette. Since the introduction of Minidisc, Sony has attempted to promote its own audio compression technologies under the ATRAC brand, against the more widely used MP3. * In 1998, Sony launched their Memory Stick format; flash memory cards for use in Sony lines of digital cameras and portable music players. In 2004, Sony built upon the Minidisc format by releasing Hi-MD. Hi-MD allows the playback and recording of audio on newly-introduced 1 GB Hi-MD discs in addition to playback and recording on regular Minidiscs. * In June 2006, the first Blue-ray players became commercially available. and Sony’s first Blue-ray player, the Sony BDP-S1, debuted in December 2006 with an MSRP of US $999. 95. * The company has expanded from a humble storefront launched in the late 1930s to the largest company in Korea and the second largest company in the world.In addition to the electronics division, which is the most profitable and successful one in the world, the company also has forayed into finance, chemicals, retail, and straight-up entertainment – all with great degrees of success. * The company employs many of South Korea’s finest employees, including many with PHD level education. This is not surprising, seeing as the company’s assets total somewhere around $300 billion. The company has some of the most loyal employees around and many works every day. They are also very much so the leader in electronic components that other companies use to build products – and as such, can control the market value and inflate prices at will. This is why the government stepped in and attempted to somewhat limit the huge conglomerate’s power and scope. * However, it is important to note that the company is responsible for at least 1/5 of the country’s exports. As a result, they are in a position of power because of the money they supply to the government. Additionally, their vast numbers of employees are essential to the country’s economy. The company has been around for quite some time, and although there has been some controversy about their strength and power in South Korea, there is no denying that they benefit the economy greatly by providing jobs, exporting their services, and otherwise doing things that smaller companies would not be equipped to do. * 1958: Founded as Gold Star. * 1960’s: Produces Korea’s first radios, TVs, refrigerators, washing machines, and air conditioners. * 1995: Renamed LG Electronics, Acquires US-based Zenith. * 1997: World’s first CDMA digital mobile handsets supplied to Ameritech and GTE in U. S. Achieves UL certification in U.S. Develops world’s first IC set for DTV. * 1998: Develops world’s first 60-inch plasma TV. * 1999: Establishes LG Philips LCD, a joint venture with Philips. * 2000: Launches world’s first Internet refrigerator. Exports synchronous IMT-2000 to Marconi Wireless of Italy. Significant exports to Verizon Wireless in U. S. * 2001: GSM mobile handset Exports to Russia, Italy, and Indonesia. Establishes market leadership in Australian CDMA market. Launches world’s first Internet washing machine, air conditioner, and microwave oven. * 2002: Under LG Holding Company system separates into LG Electronics and LG Corporation.Full-scale export of GPRS color mobile phones to Europe. Establishes CDMA handset production line and R&D canter in China. * 2003: Enters Northern European and Middle East GSM handset market. Achieves monthly export volume above 2. 5 million units (July). Top global CDMA producer. * 2004: EVSB, the next-generation DTV transmission technology, chosen to be the U. S. /Canada. Industry standard by the US ATSC. Develops world’s first Satellite- and Terrestrial-DMB handsets. * 2006: LG Chocolate, the first model in LG’s Black Label series of premium handsets, sells 7. 5 million units worldwide.Develops the first single-scan 60″ HD PDP module and 100-inch LCD TV. Establishes strategic partnership with UL. Acquires the world’s first IPv6 Gold Ready logo. * 2007: Launches the industry’s first dual-format, high-definition disc player and drive. Launches 120Hz Full HD LCD TV. Demonstrated the world-first MIMO 4G-Enabled technologies with 3G LTE. Won contract for GSMA’s 3G campaign. * 2009: Became second-largest LCD TV provider worldwide. Became third-largest supplier of mobile handsets market worldwide. Became Global Partner and Technology Partner of Formula One. 2010: Unveiled the world’s first and fastest dual-core Smartphone, LG OPTIMUS 2X. Unveiled the world’s first full LED 3D TV. * LEVEL OF COMPETITION. BRAND COMPETITION: It means the competition is among same product having same price range. According to price the LCD/LED TV can be categorized as low, economic ;amp; high price range. Low: Onida, Panasonic, Cubit. Economic: LG, Videocon. High: Samsung, Sony. INDUSTRY COMPETITION: It includes all competitors producing same product irrespective of price range like LG, Samsung, Onida, Videocon, Sony, Panasonic, etc. FORM COMPETITION:All the products which give same utility will fall under this category. In our case entertainment is the basic utility like TVs, Flat TVs, LCD, LED, etc. GENERIC COMPETITION: It means the competition with the products irrespective of industry which are available for some value of money like: A. C, Refrigerator, Television, Micro-wave, R O, Washing machine, Laptops. THE FOUR ’P’ S OF MARKETING. INTRODUCTION: The marketers’ task is to devise marketing activities and assemble fully integrated marketing programs to create, communicate, and deliver value for consumers.The marketing programs consist of numerous decisions on value-enhancing marketing activities to use. Marketing activities come in all forms. One traditional depiction of marketing activities is in terms of the marketing mix, which has been defined as the set of marketing tools of the firm uses to pursue its marketing objectives McCarthy classified these tools into four broad groups, which he called the four Ps of marketing. * PRODUCT * PRICE * PROMOTION * PLACE Product is the first and important element of marketing mix. Many people think that a product is a tangible offering, but a product can be more than that.A product is anything that can be offered to a market to satisfy a want or need. PRODUCT VARIETY: Many products can be differentiated in variety-shape or physical structure of a product. It can be differentiated by size, shape, color, coating, or action time. QUALITY: Buyers expect products to have a high quality, which is the degree to which all the produced units are identical and meet the promised specifications. DESIGN: It is the totality of features that affect how a product looks and functions in terms of requirements.The designer has to figure out how much to invest in form, feature, development performance, conformance, durability, and style etc. FEATURES: A company can identify and select appropriate new features by surveying recent buyers and then calculating customer value versus company cost for each potential feature. BRAND NAME: It is a term, sign, symbol, or design. Some combination of these elements, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors. PACKAGING: It may be defined as all the activities of designing and producing the container for a product.We must include packaging as a styling weapon, especially in food products, cosmetics, and small consumer appliances. SIZE: Company offers its products in different sizes for the consumer who buys the product as per their needs and wants WARRANTIES: They are formal statement of expected product performance by the manufacturer. Products under the warranties can be returned to the manufacturer or designated repair center for repair, replacement, or refund. SERVICES: When the physical products cannot easily be differentiated, the key to competitive success may be lying in adding valued services and improving their quality.The main services offered by the company are the delivery installation, customer training etc. RETURNS: Companies also promises to general or complete satisfaction and if consumers are not satisfied for any reason, return for replacement, exchange or refund is made by them. In planning the market offering, the marketer needs to address five product levels. Each level adds more customer value, and the five constitute a customer- value hierarchy. There are 5 levels of product as follows: * CORE BENEFIT * BASIC PRODUCT * EXPECTED PRODUCT * AUGMENTED PRODUCT * POTENTIAL PRODUCT CORE BENEFIT:Core benefit is associated with its actual purpose and utility. The core benefit of LCD/LED TV is entertainment. BASIC PRODUCT: It refers to the product which offers core benefit that is the product itself. Here the basic product is LCD/LED TV. EXPECTED PRODUCT: This level includes those attributes and conditions that buyers normally expect when they purchase the product. In developing countries, brand positioning and competition takes place at this level. General expectations from LCD/LED TV can be good picture quality, good sound quality, low radiation, energy saving and low maintenance cost. AUGMENTED PRODUCT:An augmented product exceeds the expectation of the consumer from the product. It surpasses the customer’s expectation. In developed countries, brand positioning and competition takes place at this level. In case of LCD/LED TV, USB connector, Internet connection, Games can be the innovations for augmented product. POTENTIAL PRODUCT: It encompasses all the possible augmentations and transformations the product or offering might undergo in the future. Here is where companies search for new ways to satisfy customers and distinguish their offering. In case of LCD/LED TV, Bluetooth connectivity, DVD player can be revolutionary potential product.Price is just not a number on tag or an item. Price is just all around us. You pay rent for your apartments, tuition, for your education, and a fee to your physician or dentist, the airline, railway taxi, and bus companies charge you a fare; the price of an executive is a salary. The following are the elements of the price. * DISCOUNTS * ALLOWANCES * PAYMENT PERIOD * CREDIT TERMS DISCOUNTS: Most companies will adjust their list price and give discounts for early payments, volume, purchases, and off-season buying, companies must do this carefully or find that their profits are much less than planned. There are four types of discounts. . Cash discount 2. Quantity discount 3. Functional discount 4. Seasonal discount ALLOWANCE: An extra payment designed to gain reseller participation in special programs. Trade in allowances are granted for turning in an old item when buying a new one, promotional allowances reward dealers for participating in advertising and sales support programs. PAYMENT PERIOD: Sellers especially mortgage banks and auto companies, stretch loans over longer periods and thus lower the monthly payments. Consumers often worry about the cost of a loan and more about whether they n afford the monthly payments. CREDIT TERMS:The credit terms and condition are fixed before the goods are delivered. In credit terms criteria such as payments, discounts, collection, bad debts etc. are included. * Price list of major players of LCD/LED TV industry are as follows. Price List of Sony as per its LCD/LED TVs. Model Number| Series| LCD/LED| Price(Rs. )| KDL-55EX720| EX720| LED| 159,900/-| KDL-46EX720| EX720| LED| 103,900/-| KDL-40EX720| EX720| LED| 83,900/-| KDL-32EX720| EX720| LED| 57,900/-| KDL-46EX520| EX520| LED| 93,900/-| KDL-40EX520| EX520| LED| 68,900/-| KDL-32EX520| EX520| LED| 47,900/-| KDL-32EX420| EX420| LED| 42,900/-| KDL-26EX420| EX420| LED| 29,900/-|KDL-22EX420| EX420| LED| 20,900/-| KDL-46CX520| CX520| LCD| 73,900/-| KDL-40NX520| NX520| LCD| 58,900/-| KDL-32NX520| NX520| LCD| 40,900/-| KLV-32CX32D| CX32D| LCD| 40,900/-| KLV-40CX420| CX420| LCD| 55,900/-| KLV-32CX420| CX420| LCD| 37,900/-| KLV-26BX320| BX320| LCD| 24,900/-| KLV-22BX320| BX320| LCD| 15,900/-| Price List of Samsung as per its LCD/LED TVs. Model Number| Series| LCD/LED| Price(Rs. )| LA40A330J1| A330J1| LCD| 75,400/-| LA40 A450C1| A450C1| LCD| 83,400/-| LA40 A550C1| A550C1| LCD| 99,000/-| LA40 A610C1| A610C1| LCD| 117,400/-| UA32B6000VR| UA32| LED| 60,900/-| UA40B6000VR| UA40| LED| 95,000/-|UA46B6000VR| UA46| LED| 118,000/-| UA46B7000| UA46| LED| 143,000/-| UA55B7000| UA55| LED| 233,000/-| UA55B8000| UA55| LED| 300,000/-| Price List of LG as per its LCD/LED TVs. Model Number| Series| LCD/LED| Price(Rs. )| 32LE7500| LE7500| LED| 66,990/-| 42LE7500| LE7500| LED| 99,990/-| 42LE8500| LE8500| LED| 1,59,990/-| 22LE5300| LE5300| LED| 19,500/-| 26LE5300| LE5300| LED| 28,990/-| 32LE5300| LE5300| LED| 47,990/-| 42LE5300| LE5300| LED| 83,990/-| 32LE5500| LE5500| LED| 52,990/-| 42LE7500| LE7500| LED| 83,990/-| 47LE7500| LE7500| LED| 89,990/-| 55LE7500| LE7500| LED| 1,54,990/-| 47LX9500| LE7500| LED| 2,00,000/-| 5LX950| LE7500| LED| 3,00,000/-| Promotion is an activity by which firms attempt to inform, persuade and remind consumers-directly or indirectly about the products and brand that they sell. Promotion performs many functions for consumers that consist of five major mode of promotion. * ADVERTISING * SALES-PROMOTION * DIRECT MARKETING * SALES FORCE * PUBLIC RELATION ADVERTISING: It is an impersonal form of communication that induces, inform and recall the consumer about the product and services. The following are the advertising objective. * Aim to create brand awareness and knowledge of new products or new feature existing customers. Aim to create liking, preference, conviction, and purchase of a product or services. * Aims to stimulate repeat purchase of products and services. for E. g. expensive four-color COCA COLA ads in magazines are intended to remind people to purchase coca cola. * Aims to convince current purchases that they made the right choice. SALES PROMOTION: It is key ingredients in marketing campaigns consist of collection of incentive tools, mostly short term, designed to stimulate quicker or greater purchase of particular products or services by consumers.The following are the tools of sales promotion: * Samples: Offer of a free amount of a product or service delivered door-to-door, sent in the mail, picked up in a store, attached to another product, or featured in advertising offer. * Coupons: Certificates entitling the bearer to a stated saving on the purchase of a specific product mailed, enclosed in other products or attached to them or inserted in magazines and newspaper ads are the mainly included. * Price Packs: Offers to consumer of saving off the regular price of a product, flagged on the label or package.A reduced price pack is a single package sold at a product. * Cash Refund Offers: Provide a price reduction after purchase rather than at the retail shop: consumer sends a specified “proof” of purchase to the manufacturer who refunds part of the purchase price by the mail. * Patronage: Values in cash or in other forms those are proportional to patronage of a certain vendor of a group of vendors. * Free trials: Inviting prospective customers to try the product without cost in the hope that they will buy the product in future. * Tie in Promotions:Two or more brands or companies team up on coupons, refunds, and contests to increase pulling power. * Product Warranties: Explicit or implicit promises by sellers that the product will perform specified or that the seller will fix it or refund the customer’s money during a specified period. * Cross Promotion: Using one brand to advertise another to non competing brands is known as Cross Promotion. * Free Goods: Offer to extra cases of merchandise to intermediate who buy a certain quantity or who feature a certain flavor or size. DIRECT MARKETING:It is the use of consumer-direct channels to reach and deliver goods and services to customers without using marketing middlemen. These channels include direct mail, catalogs, telemarketing, interactive TV, websites, and mobile services. Today many direct marketers use direct marketing to build a long term relationship with the customer. They send to birthday cards, information trials, or small premiums to certain customers. SALES FORCE: IT is the face to face interaction with one or more prospective purchasers for the purpose of making presentations, answering questions, and procuring orders.Today top most industrial companies rely heavily on a professional sales force to locate prospects, develop them into customers, and w the business; or they hire manufactures representatives and agents to carry cut the direct selling task. PUBLIC RELATIONS: Not only must the company relate constructively to consumers, suppliers, and dealers, it must also relate to large number of interested publics. A public is any group that has an actual or potential interest in or impact on a company’s ability to achieve its objectives.The best PR departments spent time counseling top management to adopt positive programs and to eliminate questionable practices so that negative publicity does not arise in the first place. Objectives of PR: * Build awareness: As the power of mass advertising weakens, marketing managers are turning to pr to build awareness and brand knowledge for both new and established new products. * Build creditability: It can build creditability by communicating the message in an editorial context. * Stimulate sales force and dealers: It can help boost sales force and dealer enthusiasm with stories about a new product before it is launched. Place contains the following element: * CHANNEL * COVERAGE * ASSORTMENTS * INVENTORY * TRANSPORT CHANNEL: Most producers do not sell their products directly to final users. Between producers and final users stands one or more marketing channel. Marketing channels are sets of interdependent organizations involved in the process of marketing a product or service available for use or consumption. The channel has following 3 intermediaries: * Merchandisers: Some intermediaries-such as wholesaler and retailers-buy, take title to and resell the merchandise; they are called merchandisers. Agents: Other-brokers, manufacturers’ representatives, sales agents-search for customers and may negotiate on the producers’ behalf they are called Agents. * Facilitators: Transportation companies, independent warehouse, banks and advertising agencies-assist in the distribution process known as Facilitators. ASSORTMENTS: It means single distribution channel of multiple products to cater to needs of the customers. They have to decide where you draw the lines between products categories. INVENTORIES: Inventory levels represent a major cost. Salespeople would like their companies to carry enough stock to fill all customers’ orders immediately.It has to see that at each every place proper number of units should be equal to demand. TRANSPORT: Transportation choices will affect product pricing, on time delivery performance, and the condition of the goods when they arrive all of which affects the customer satisfaction. The company can choose among five transportation modes: Rail, Air, Waterway, Road transport, Pipeline. * Distribution Channel of LCD/LED TV. What is meant by marketing? M – Money Motives A – All customers must be satisfied R – Risk must be minimized K – Keep an eye on market position E – Easy availability of productT – Thoughtful decision making I – Important to advertising N – Needs incredible change at all times G – Generation of new ideas “Market research is the systematically designed collection, analysis and reporting of data and finding relevant to a specific marketing situation facing a company. ” * To find out satisfaction level of users of LCD/LED TV. * To find out the most common and preferred company among users. * To find out brand loyalty among consumers. * To find out the factors considered by the users at the time of purchasing. * To find out problems encountered by existing users and come up with relevant solutions. To devise new marketing practices to further enhance the market of the product. * To come up with relevant suggestions. * To determine current position of product in market. * To know the position of competitors in the market. * To know customers expectations towards the product. * To know the preference towards existing product. * To identify the schemes to be introduced to make product more successful. * To identify changes to be introduced in product according to need of customers and Feasibility. * To understand the current market scenario reference to the given product.Effective marketing research process involves five steps: * DEFINING THE PROBLEM * DEVELOP RESEARCH PLAN * COLLECTION OF INFORMATION * ANALYSIS OF INFORMATION 1. DEFINING THE PROBLEM: No company in the market is without any problem for some marketing issues. A company may face low sale, low market share and even the problems like low awareness, evaluation for launching any new product and in many other problem market research can help at its best. If there is a problem of low sales one can find out the total sales of product in the market and through that of its competitors, by using this nformation a company can find the reason of low sales. If the market situation is changing rapidly than one has to change its strategies for being in the market. Marketing management must be careful while defining the problem. It must not be too large or too short. 2. DEVELOP THE RESEARCH PLAN: Once it is decided to research the market for specific purpose, then researchers develop research plan which includes the following things: (A. )Data Sources: Researchers can collect primary data which is freshly collected or secondary data which is collected from other sources. (B. ) Research Approaches:Primary data can be collected by observing data, focus groups, behavioral data, surveys and experiments. To conduct research, marketers can use instruments such as: 1. Questionnaires 2. Qualitative Measures 3. Measures 4. Technical Devices (C. ) Sampling Plan: After deciding on the research approach and instruments, the marketing researcher must design a sampling plan. This calls for following three decisions. a. ) Sampling Units: We have done the survey of business men, housewives, students, professionals, etc. Respondents of all age groups have been covered in our survey. . ) Sample Size: We have decided to survey 500 people to get maximum response from wide variety of people. c. ) Sampling method: We have used simple random sampling method in beginning but as our product is expensive we get maximum respondents as non-users. Therefore, to make our project report feasible we change our sampling method and adopted the judgment sampling method and get the reviews of only users of our product. d. ) Contact Method: This research has been done by e-mail, personal investigation, telephone and personal visits to respondents.To do research on LCD/LED TV, we have gathered information regarding various brands, tonnage, models available in the market. We have used Questionnaires survey the market by taking personal interviews of consumers. 3. COLLECTION OF INFORMATION: By Questionnaire and personal interview, we have collected the information about occupation, monthly income, buying behavior, most preferable brands, promotional offers, models of LCD/LED TVs, satisfaction level of consumers using LCD/LED TVs. We have also studied about the consumers not having LCD/LED TVs and their future plans to buy an LCD/LED TV. . ANALYSIS OF INFORMATION ;amp; CONCLUSION: In this step we have extracted findings by tabulating data and developing frequency distributions. Then we have analyzed information by unit-variant and bi-variant graphs. 5. PRESENT THE FINDINGS: As the last step the researchers’ present findings relevant to the major marketing decisions facing management. Researchers are being asked to play a more proactive consulting role in translating data and information into insights and recommendations. 6. MAKE THE DECISION: Research findings only provide additional information and insight to the manager.Depending on their confidence in the finding, the manager decides to use it, discard it, or carry out more research. Q. What is your Age? Age| Number of people| Percentage| 10 to 20| 89| 18%| 20 to 30| 158| 32%| 30 to 40| 161| 32%| 40 to 50| 56| 11%| ;gt;=50| 36| 7%| Total| 500| 100%| Interpretation: In our project report reviews people of different age group is taken. In a sample of 500 people, we try to include people of various age groups as their reviews may differ because of age difference. We include students, graduate people, salaried people and businessmen as well as retirement persons, etc.Q. What is your occupation? Occupation | Number of people| Percentage| Job| 197| 40%| Business| 137| 27%| Student| 116| 23%| Other| 50| 10%| Total| 500| 100%| Interpretation: In our project report out of 500, 197 people are doing jobs, 137 are doing business, 116 are students, and 50 are of other category. It means we tried to get review of as more professional people as possible rather than going for uneducated people or people who have no relevance with our research. Q. What is your monthly income? Monthly Income| Number of people| Percentage| Less than 20000| 117| 23%| Between 20000-25000| 156| 31%|Between 25000-30000| 108| 22%| More than30000| 119| 24%| Total| 500| 100%| Interpretation: As our product is costly we also consider the monthly income of people. In our research 23% people have income less than 20,000, 31% people have income between 20,000-25,000, 22% and 24% people have income between 25,000-30,000 and more than 30,000 respectively. Q. Do you use LCD/LED TV? Usage of LCD/LED| Number of people| Percentage| Yes| 285| 57%| No| 215| 43%| Total| 500| 100%| Interpretation: It is the most important part of our project that out of total how many people are the users and how many are the non users.Out of 500, 285 people are using the LCD/LED TVs and remaining that is 215 are not using the product because of certain reasons. Q. Which brand do you prefer more? Brand Preference| Users| Percentage| LG| 88| 31%| Samsung| 74| 26%| Sony| 93| 33%| Any Other| 30| 10%| Total| 285| 100%| e Interpretation: As we can see that in above chart out of 285, 31% of people are using LG, 26% are using Samsung, 33% are using Sony and 10% prefer other brands. It is clear that there is a keen competition between different brands and Samsung is the most preferred brand and LG stands second.Q. Why do you prefer only this particular brand? Reason for choosing Particular Brand| Users| Picture Quality| 88| Sound Quality| 74| Brand Name| 93| Price| 47| Any other specify| 23| Interpretation: In our product consumer choices are mainly depends on certain factors such as picture quality, sound quality, price, brand name, etc. In our case there is more than one factor which affects the consumers’ choice. Q. Since how many years have you been using LCD/LED TV? Usage Period| Users| Percentage| 0-1 Year| 98| 34%| 1-2 Year| 93| 33%| 2-3 Year| 66| 23%| ;gt;3 Year| 28| 10%|Total| 285| 100%| Interpretation: Here, we can interpret that usage of LCD/LED is newer in India. Out of 285 users 34% of people are using it for less than 1 year which is the highest number in our research and only 10% of total users are using the LCD/LED TV for more than 3 years. Q. Do you know what the basic difference between LCD ;amp; LED is? Difference between LCD/LED| User| Percentage| Yes| 119| 42%| No| 166| 58%| Total| 285| 100%| Interpretation: It frequently happens in our research that many of the users are not aware about the difference between LCD and LED TV.Out of total users only 42% of people are aware about the difference. Some of them come to know about it from internet, some may know from news papers, etc. Q. Which size of LCD/LED you prefer? Size| Users| Percentage| 22″| 35| 12%| 29″| 89| 31%| 32″| 101| 36%| 34″| 60| 21%| Total| 285| 100%| Interpretation: Size is also an important factor which affects the buyers’ decision. Most of the users prefer LCD/LED of 32” and only 12% of people are using the 22” LCD/LED. Q. Where do you place your LCD/LED TV? Place| Users| Percentage| On Wall| 183| 64%| In Cabinet| 102| 36%| Total| 285| 100%| Interpretation:Out of total users 64% of people prefer to put their LCD/LED on wall and only 36% of people are putting it in cabinet. Q. After using/ purchasing the LCD/LED TV, what is your satisfaction level? Satisfaction Level| User| Percentage| Highly Satisfied| 111| 39%| Satisfied| 129| 45%| Not Satisfied| 32| 11%| Highly Dissatisfied| 13| 5%| Total| 285| 100%| Interpretation: Satisfaction level is most important part for consumer as well as company. In our research 45% of total consumers are satisfied with their brands, 39% are very satisfied, 11% are not satisfied and 5% are highly dissatisfied with their brands.Q. Apart from watching TV, what other feature do you avail? Other Benefits| Users| Percentage| USB| 88| 29%| Internet| 110| 37%| Games| 75| 25%| Any Other| 28| 9%| Interpretation: Many companies are providing additional services like USB, internet, games, etc. It may happen that a company provides more than one service. In our case 37% of users are getting Internet services, 29% of users avail USB service and 25% of people are getting an additional service of games. Q. What are the different schemes offered to you while purchasing LCD/LED TV? Schemes for Sale| Users| Cash Discount| 171| Gift| 84| EMI| 220|Other| 17| Interpretation: Companies are providing different schemes for sales promotion. A company may offer more than one scheme such as cash discount, promotional gifts, EMI facility and many more. Because of financial limitation most of the users have adopted the EMI facility and secondly most of the companies are providing cash discount to promote their sales. Q. What guarantee/warrantee period do you get? Guarantee/Warranty| Users| Percentage| 1 year| 62| 21%| 2 Year| 123| 43%| 3 Year| 65| 23%| ;gt;3 Year| 38| 13%| Interpretation: Guarantee/Warranty is nowadays required in any electronic gadgets.It represents the after sale services of a company. Many of the companies are providing guarantee/warranty period of 2 years. Least of the companies are providing such facility for more than 3 years. Q. Which of the following influenced you the most to purchase LCD/LED TV.? Influence to Buy| Users| Friends| 85| Retailers| 90| Internet| 89| Advertisement| 180| Distributors| 58| Other| 28| Interpretation: It is clear from above diagram that advertisement is the most influencing factor that affects the buying decision with 34%. Internet and retailers have similar impact on buyers. INCOME AND BRANDIncome Brand | ;lt;20,000| 20,000-25,000| 25,000-30,000| ;gt;30,000| Total| LG| 20| 18| 16| 13| 67| Samsung| 8| 19| 35| 40| 102| Sony| 10| 28| 22| 20| 80| Other| 5| 10| 14| 7| 36| Total| 43| 71| 87| 80| 285| Interpretation: From the above chart it is clear that least income people mostly prefer LG brand, middle income people prefer Sony and the upper middle and higher income group people prefer Samsung. BRAND PREFERENCE AND REASON FOR SELECTING A BRAND Reason for selecting a brand Brand| Picture Quality| Sound Quality| Brand Name| Price| Other| Total| LG| 15| 18| 15| 12| 7| 67|Samsung| 21| 25| 33| 14| 9| 102| Sony| 30| 26| 14| 8| 2| 80| Other| 10| 12| 6| 4| 4| 36| Total| 76| 81| 68| 38| 22| 285| Percentage| 27%| 28%| 24%| 13%| 8%| 100%| Interpretation: We can see that out of total 27% of people prefer their brand because of picture quality, 28% because of sound quality, 24% because of the brand name, 13% because of the price and 8% because of other reasons. SATISFACTION LEVEL AND BRAND PREFERENCE Satisfaction Level Brand| Highly Satisfied| Satisfied| Not Satisfied| Highly dissatisfied| Total| LG| 27| 28| 9| 3| 67| Samsung| 36| 57| 7| 2| 102|Sony| 22| 27| 12| 8| 80| Other| 15| 15| 4| 2| 36| Total| 111| 129| 32| 15| 285| Interpretation: We can interpret that most of the customers are satisfied with their brands. The highest satisfaction level is observed in Samsung customers. On the other highest dissatisfied customers are of Sony. Q. Do you wish to buy LCD/LED TV? Wish to buy in future| Number of People| Percentage| Yes| 174| 81%| No| 41| 19%| Total| 215| 100%| Interpretation: From the above graph it is clear that 81% of total non-users are wish to buy LCD/LED TV in future. Rests 19% are not willing to purchase because of certain reason.Q. If you do not wish to buy it in future then specify why? Reasons for not purchasing | Number of People| Percentage| Can’t Afford it| 12| 29%| High maintenances| 10| 24%| Not Required| 13| 32%| Any other Specify| 6| 15%| Total| 41| 100%| Interpretation: Majority of people do not want to buy LCD/LED TV because they do not require it. Secondly, because of its high price and high maintenances, people ignore to buy LD/LED TV. Q. If you get a chance to buy LCD/LED TV which brand will you prefer? Brand Preference| Number of People| Percentage| LG| 32| 18%| Samsung| 76| 44%| Sony| 60| 35%|Any Other| 6| 3%| Total| 174| 100%| Interpretation: As many people willing to buy LCD/LED TV in future, Samsung is the leading company among all with 44% and Sony is the second highest leading company in potential buyers. Q. Which is the basic feature that a consumer demands in an LCD/LED TV? Feature demanded by customers| Dealers| Picture Quality| 28| Sound Quality| 6| Brand Name| 19| Price| 5| Other| 0| Interpretation: From the above we can say that most of the buyers are intended towards picture quality, the second preference is given to brand name and then the final factor is sound quality. Q.From whom you buy LCD/LED to sale? From whom you purchase LCD/LED| Dealers| Percentage| Manufacturer| 28| 56%| Dealers| 20| 40%| Other| 2| 4%| Total| 50| 100%| Interpretation: In this diagram, we can see the retail chain of LCD/LED product. 56% of total dealers buy their product from manufacturers, 40% of dealers buy it from wholesale dealers. Company’s may sale their product in their own showrooms. Q. Which is the most preferable brand that a consumer buys? Most Preferable Brand| Dealers| Percentage| LG| 8| 16%| Samsung| 24| 47%| Sony| 14| 29%| Any Other| 4| 8%| Total| 50| 100%| Interpretation:According to dealers, most preferable brand by consumer is Samsung with 47%, the second highest preferred brand is Sony with 29%, and LG is the least preferable brand with 16%. Q. Since how many years you are in this business? Years of Business| Dealers| Percentage| ;gt;1 year| 3| 6%| 3-5 year| 16| 32%| 5-10 year| 16| 32%| 10;lt; year| 15| 30%| Total| 50| 100%| Interpretation: In our report, 6% dealers are in this business are for less than 1 year, 32% dealers are for 3-5 years, 32% are for 5-10 years and 30% are for more than 10 years. Q. Do you need to convince the buyer to buy LCD/LED compare to conventional TV?Need to Convince buyer| Dealers| Percentage| Yes| 37| 74%| No| 13| 26%| Total| 50| 100%| Interpretation: Out of total number of dealers 74% of dealers required to convince buyers to buy an LCD/LED TV. It indicates that most of people are unaware or not want to buy it. Q. Which factors affects the most in sale of LCD/LED TV? Factors affecting sales| Dealers| Price| 13| Size| 12| Quality| 32| Other| 1| Interpretation: It is clear from above chart that most of the buyers are mainly intended towards quality. 55% of buyers are focusing on the quality of product. 2% of buyers are influenced by price of product, 21% of buyers influenced by size of product. Q. Which brand do you prefer more? Brand Preferred by Dealer| Dealers| Percentage| LG| 9| 18%| Samsung| 22| 44%| Sony| 15| 30%| Any Other| 4| 8%| Total| 50| 100%| Interpretation: Most of the sellers prefer Samsung possibly it might give them more profit as compare to other brands. 44% of dealers prefer the Samsung, 30% of seller prefer Sony, 18% of dealers prefer LG. Q. Which kind of promotional activities are usually undertaken by companies? Promotional Schemes| Dealers| Cash Discount| 27|Gift| 17| EMI| 11| Other| 0| Interpretation: Most of the companies are providing Cash discount to improve their sales, 31% is providing Gift vouchers, and 20% are providing EMI facility to attract more customers. Q. Do you get credit period from the suppliers? Credit Availability| Dealers| Percentage| Yes| 30| 60%| No| 20| 40%| Total| 50| 100%| Interpretation: Out of total creditors only 60% are able to get credit from suppliers and remaining 40% are not able to get credit. It might be possible that in this business credit availability is not easy to get as more investment is required.Q. Which company receives maximum complaints against it? Maximum Complaints against a company| Dealers| Percentage| LG| 15| 30%| Samsung| 8| 16%| Sony| 10| 20%| Other| 7| 14%| Total| 50| 100%| Interpretation: In the above diagram, we can visualize that LG receives maximum complaints against it that is 26% of total customers, Sony is at the second place with 26%, and Samsung is at last with 18%. * Most of the people don’t know the varieties of the LCD /LED TVs. * There are many types of LCD/LED TVs, so customers get confused to select the any one of them. People are looking for lower prices of LCD/LED TV providing more facilities. * Some of the customers also believe that size of the LCD/LED TV should be minimized. * There should be some more features and quality improvement as the demand of customer for charge. * Dealers offer many schemes during festival occasion. * Most of the people are satisfied with their LCD/LED TV. * We also find that people did not want to buy LCD/LED TV because its maintenance is very high. * Due to some constraints, we have surveyed 500 questionnaires of consumers. * The only method that adopted for conducting the survey is through questionnaire. Talking about chain, we were constrained about only to limited cities which are Ahmadabad, Surendranagar, Botad, and Surat. * Due to limited resources, we were not able to cover all the areas for our research. * It was able-personal based survey, but the interest level differed from people to people. The details enclosed in this project are based on the survey conducted by us. So it might be possible that we might have left out some details. * We are doing this kind of research for the first time so there can be some hidden mistakes done by us.Still, despite of the limitation we tried to maintain the accuracy throughout the project. * Some dealers were hesitating to reveal the private data so there may some data based on our estimation. * We also find that many of the respondents were hesitating to reveal some data because they afraid of its misuse. Because of this reason accuracy of our project report is affected. * The marketer should develop marketing strategies for crating awareness of the product. * The company should decrease the prices and come in the lower-end segment. * The company should try to give incentives as per the customer demand. The company should spread the distribution channel. * Good incentive schemes should be introduce for dealers. So, they may also aggressively promote the product * The product should be display at prominent place in the shop. So, it attracts attention of customer. In recent years consumer is the king of the market. The change is take place in the market only due to the change in the habit, behavior, fashion of the consumer. Experiencing the consumer behavior we would like to conclude our project with a high feeling of having gain enormous knowledge about LCD/LED TV.This includes thanks giving not only for valued co-operation of the respondents that we surveyed but also our faculty who gave us such a wonderful opportunity to learn so much about the practical aspects of life. We learned how to deal with people and to maintain contacts. The important part was extracting as much information as possible which helped us to improve our potentials. It has boosted our confidence level and helped us to face the challenge. Above all it has put forth the essence of management and taught us the importance of team work and co-ordination.This has been our first step towards getting acquainted with the real business world. What we have learned will definitely help us in enhancing our academic career. We look towards to such projects in future. * MARKETING MANAGEMENT BY PHILIP KOTLER, 11th EDITION, Page No. 130, 131, 133, 136, 138, and 139. * www. wikipedia. com * www. google. co. in * www. yellowpages. com QUESTIONNAIRE OF CONSUMER MARKET ANALYSIS ON LCD/LED TV. * For customer: * Personal information: 1. Name: _____________________________________________ 2. Age: ________ years. 3. Occupation:________________________ 4. Monthly income:Less than 20,000 Between 20,000-25,000 Between 25,000-30,000 More than 30,000 * About the product: 1. Do you use LCD/LED TV? Yes No [If ‘Yes’ go to Section A] [If ‘No’ go to Section B] Section-A 2. Which brand do you prefer more? LG Samsung Sony Any other specify: __________________ 3. Why do you prefer only this particular brand? Picture quality Sound quality Brand name Price Any other specify: ________________________ 4. Since how many years have you been using LCD/LED T. V?Less than 1 year 1-2 years 2-3 years More than 3 years 5. Do you know what the basic difference between LCD ;amp; LED is? Yes No If yes, who provides you the information? ______________________________________________________ ______________________________________________________ ______________________________________________________ 6. Which size of LCD/LED you prefer? 22’’ 29 “ 32” More than 32” 7. Where do you place LCD/LED T. V.? On Wall In Cabinet 8. After using/ purchasing the LCD/LED T. V. , what is your satisfaction level?Highly satisfied Satisfied Not satisfied Highly Dissatisfied 9. Apart from watching TV, what other feature do you avail? USB Internet Games Any other specify: __________________ 10. What are the different schemes offered to you while purchasing LCD/LED T. V? Cash discount Gift vouchers EMI Any other specify: __________________ 11. What guarantee/warrantee period do you get? 1 year 2 year 3 year more than 3 year 2. Which of the following influenced you the most to purchase LCD/LED T. V.? Friends’ Retailers Internet Advertisement Distributor Any other specify: __________________ 13. ————————————————- Would you like to give any suggestions? ————————————————- ___________________________________________ ————————————————- ___________________________________________ ————————————————- ___________________________________________ Section-B 1.Do you wish to buy LCD/LED T. V.? Yes No 2. If no, why? _____________________________________ _____________________________________ _____________________________________ _____________________________________ 3. If you get a chance to buy LCD/LED T. V. which brand will you prefer? LG Samsung Sony Any other specify: __________________ ________________________ QUESTIONNAIRE OF DEALER MARKET ANALYSIS ON LCD/LED TV. * For dealer: * Personal information: 1. Name: ______________________________________________ 2. Area: ______________________________________________ . Total investment: _____________________________________ * About the product: 4. Which is the basic feature that a consumer demands in an LCD/LED T. V.? Picture quality Sound quality Brand name Price Any other specify: ________________________ 5. From where you buy LCD/LED T. V.? Manufacturers Dealer any other specify 6. Since how many years you are in this business? Less than 1 year 3-5 years 5-10 years More than 10 years 7. Which is the most preferable brand that a consumer buys?LG Samsung Sony Any other specify: __________________ 8. Do you need to convince the buyer to buy a LCD/LED compare to conventional TV? Yes No 9. Which factors affects the most in sale of LCD/LED? Price Size Quality Any other specify: ________________________ 10. Which brand do you prefer more? LG Samsung Sonny Any other specify: __________________ 11. Which kind of promotional activities are usually undertaken by companies?Cash discount Gift vouchers EMI Any other specify: __________________ 12. Do you get credit period from the suppliers? Yes No 13. Which company receives maximum complaints against it? LG Samsung Sony any other specify: __________________ 14. Would you like to give any suggestions to companies? ___________________________________________ ___________________________________________ ___________________________________________ ______________________

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