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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
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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.
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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.
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
DATA ANALYSIS
PIE chart showing purchasing of consumer durables during exhibitions
Response Number of Consumers
Yes 18
No 32
TOTAL 50
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
PIE chart is showing preference of financing scheme while purchasing consumer durables.
90%
0%
10%
Yes
No
Can't Say
Response Number of Consumers
Yes 5
No 45
Can’t say 0
Total 50
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
PIE chart is showing customer satisfaction related to staff service
86%
14%
Yes
No
Response Number of Consumers
Yes 43
No 07
Total 50
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
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.
TECNIA INSTITUTE OF ADVANCED STUDIES Programme: BBA – VI SemStudent name
Title: MARKET ANALYSIS OF LG CONSUMER DURABLES
Bibliography
www.lgindia.com www.google.com www.wikipedia.com LG magazine www.gadgets.com