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A PROJECT REPORT ON MARKETING STRATEGY FOR VIDEOCON SUBMITED TO PUNE UNIVERSITY
SUBMITED BY RITESH KUMAR MMM (2009-2011) IMEX, PUNE .
.. The beauty of the destination is half veiled and the fragrance of the success half dull until the traces of all those enlightening the path are left to fly with the wind spreading word of thankfulness Keeping this in view; it would be unfair on my part if I dont mention my gratitude to Mr. Avanindra Kumar (Zonal Marketing Officer, Videocon Industry Ltd.); who gave me the opportunity to get training in such a recognized company. His guidance and knowledge helped me to learn professionalism in the real sense.
I would like to express my deep sense of gratitude to Prof. Ravi Potnis, director IMEX, pune for providing me such an environment to achieve the goals and to prosper in the corporate world.
I am also grateful to my internal project guide Prof. Abhijit Khasnis, IMEX; Pune who supported his complete support to make me deliver my best.
TABLE OF CONTENTS
Page Number FROM TO 5 12 13 22 24 27 46 48 49 50 51 53 54
1. 2. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14.
Executive summary Company profile Major competitors Existing marketing strategy of Videocon SWOT analysis Research methodology Analysis and Interpretations Findings Recommendations Conclusion Limitations Questionnaires Bibliography
5 6 13 14 23 25 28 47 49 50 51 52 54
I have done my project titled Marketing Strategies for Videocon, at Jaipur. In my project work my main objectives are to sort out the tools and requirements that should be implemented by Videocon to grow its market share Know how to aware the customer . about the product of Videocon. For accomplishment of this objective, I used descriptive research methodology and started my project with my first step, which was identifying respondent. I selected the sample for my research on the basis of convenience sampling in which I collected datas through those respondent who cam in trade expo which e were organized in Jaipur and by meeting some customers in the multi brand outlets and dealers. The method of data collection was personal interview and questionnaire only. From collected data I found a lot of valuable information through which I did my study on assigned objective, and concluded it in respective head. At the end of the report writing I have given some of the suggestion to the Videocon for better performance in the market.
COMPANY PROFILEHISTORY OF ELECTRONIC INDUSTRIES The Electronics Industry in India took off around 1965 with an orientation towards space and defence technologies. This was rigidly controlled and initiated by the government. This was followed by developments in consumer electronics mainly with transistor radios, Black &White TV, Calculators and other audio products. Color Televisions soon followed. In 1982- a significant year in the history of television in India the government allowed thousand of Color TV sets to be imported into the country to coincide with the broadcast of Asian Games in New Delhi. 1985 saw the advent of Computers and Telephone Exchanges, which were succeeded by Digital Exchanges in 1988. The period between 1984 and 1990 was the golden period for electronic goods during which the industry witnessed continuous and rapid growth. From 1991 onwards, there was a first economic crisis triggered by the Gulf War, which was followed by political and economic uncertainties within the country. Pressure on the electronics industry remained though growth and developments have continued with digitalization in all sectors and more recently the trend towards convergence of technologies. In recent years the electronic industry is growing at a brisk pace. It is currently worth $ 20 Billion but according to estimates, has the potential to reach $ 22 billion by 2011. The largest segment is the consumer electronics segment.
HIST Vi i an Indian multinati nal wit int
IDE t in C nsumer Electronics, 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 TV 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.
E T SCE
The consumer durables market in India is valued at US $ 4.5 billion currently. In 2008, microwave ovens and air conditioners registered a growth of about 25%. Frost-free refrigerators have registered significant growth as many urban families are replacing their old refrigerators. . Washing machines, which have always seen poor growth, have seen reasonable growth in 2006. More and more Indians are now buying electrical appliances due to change in electricity scenario. The penetration level of color televisions (CTVs) is expected to increase 3 times by 2010.
On the brick of rapid economic growth, India has witnessed the dynamic change in country's consumer electronics industry. In last few years the industry has been witnessing significant changes in retail boom, growing disposable income and availability of easy finance schemes. One electronic gadget that has brought new revolution in Indian Electronic Industry is Television Set. Today, India is fast emerging as the key driver in the global television market both as a manufacturer and consumer.
In recent years, the market for televisions in India has changed rapidly from the conventional CRT technology to Flat Panel Display Televisions (FPTV). Currently, the split between CRT and FPTV is around 97% and 3% respectively. In addition to this, one of the most striking changes sweeping across the color television market in Indian market is the exponential growth of the flat panel television (FPTV) market, in common parlance called the liquid crystal display (LCD) and plasma televisions. Moreover, as per recent research data available, the global market for FPTV is expected to grow from 51 million units in 2006 to 127 million by 2010. Looking at the present scenario, over the last couple of years, the LCD prices have even dropped by around 30 per cent annually. Some of the important factors that boasted this growth also include the increasing awareness of the advantages of LCD televisions, the growing availability of the product across dealer counters and the Finance schemes in the market. Besides this, as a manufacturing hub, the television industry is improving more and more. There are many domestic and MNC companies that have increased their production bases in the country. Easy availability of low cost skilled labour and the emergence of SEZs, which are tax-free zones are some of the key factors that have resulted in growth of these manufacturing units. In fact, encouraged by tax-breaks, new manufacturing units are coming up in less-developed regions now. Today, India is one of the few emerging countries to have an excellent component supply base in terms of manufacturing facilities for glass and color picture tubes, so it helps it a good choice for all those companies who are looking to take benefit of this emerging market. In present scenario top players in consumer durable products companies are: LG PANASONIC VIDEOCON SAMSUNG SONY
MANAGEMENT: The hierarchy of Videocon Company is as follows.
SALES MANAGER AD MANAGER M.R. MANAGER
M.R. EXECUTIVE (A.C.)
M.R. EXECUTIVE (T.V.)
M.R. EXECUTIVE (WASHING MACHINE)
M.R. EXECUTIVE FRIDGE
MARKET SHARE:Being the biggest company in the FMCD sector, Videocon enjoys the 12% market share. Videocon targets to achieve the 15% market cover in next year.
12% Videocon 28%LG Samsung
PRODUCTThere are different brands of the Videocon Company, which are currently in use throughout the world. This company not only deals in the consumer durable product but also others like oil & gas, color picture tube glass, etc. Videocon launching new product in market, customer point of view.
Product of Videocon: Televisiono Flat o Ultra Slim o LCD o LED o Conventional
Washing machineo Front Loading o Fully Automatic o Semi Automatic
Refrigeratoro Frost Free o Direct Cool
Air-conditiono Window AC o Split AC
Micro-Oveno Solo o Conventional o Grill
The overall volume of this company is as follows.TVAIR-CONDITION OTHERS
EXISTING MARKETING STRATEGY OF VIDEOCONTARGET MARKET: Videocon Industries is eyeing a growth of 35 -40% in terms of value for the next fiscal 2010 -11. It plans to achieve the desired growth by introducing new product lines, various offers and revamping its service centers across 20 cities. As the consumer gets conscious about spending money with the global meltdown, at present the demand is high fo