FINAL PROJECT REPORT1[1]

PROJECT REPORT IFB

July 1

2010DEALER AND CONSUMER SURVEY TO KNOW THE MARKET POTENTIAL OF IFB PRODUCTS AND ITS COMPETITORS

COMPILED BY:- SANCHI SAKLANI

UNDERTAKING

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I hereby solemnly declare that all the facts and figure given by me in this Project report is true to the best of my knowledge. Any resemblance form other report may be coincidence .There may be some error in the report but it should be considered as human error.

Date- Sanchi Saklani

ROLL-NO.-9154

ACKNOWLEDGEMENT

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I express gratitude in a mere formality because words can’t replace deep and tender feelings.

Firstly I would like to thank Mr. Vijay Rajpoot (Head western U.P) who gave a real chance to work and train myself in corporate sector.Mr. Rajpoot is a person who is responsible for our exposure in marketing field. I also thank Mr. Varun Chawla (In charge Meerut Zone) who supported me through out the training period. There is one another person through which we got chance to work for a brand like IFB he is non other than our senior and IFB S.I.P coordinator Mr. Alok Jaiswal(A.S.M Barely ). .

Lastly I would like to thank my parents and friends who morally supported me through out my training period. Without them my project would never have been accomplished.

THANKING YOU

CONTENTS

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Sl.no. Particulars Page no.

1. UNDERTAKING 12. ACKNOWLDGEMENT 23. About IFB 3-5 Mission, Vision Its products Services 4. History & literature 7-85. AIM & OBJECTIVE 96. METHODOLOGY 104. DEALER SURVEY

Market Potential of front loading washing machine 11-19 Market potential of Micro wave oven 20-29

5. CONSUMER SURVEY Front loading washing machine buying pattern 30-37 Scope & potential of MVO its competitors range 38-45

6. LIMITATIONS OF THE STUDY 46 7. BIBLIOGRAPHY 47 8. PRICE / RANGE AND CAPACITY OF IFB AND 48-54

ITS COMPETITORS

IFB’S PROFILE

IFB is a US$ 250 million diversified business house having interests in appliances, automotive

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components, alcohol and marine foods. Our businesses enjoy leadership status and in most product categories have a dominant market share. The businesses are built on the ethos of quality, technology and customer focus as well as financial prudence. The “IFB” brand enjoys very strong equity in the minds of the consumers and is amongst the most desired brands in India.

Mission-

Continuously maximizing the shareholder's growth by manufacturing and marketing best quality products that go into daily life.

IFB PREVILEGE

IFB Home Appliances pioneered many modern trends in the Indian household. Over the years, IFB has developed products that have changed your lifestyle not only through the very best in wash care technology, but also through a wide range of state-of -the-art dryers, dishwashers and microwave ovens. Today more than 1.5 million households own IFB products, making us one of the most trusted Home Appliances companies in the country. Our customer base is growing rapidly not only because of our products but also because of the exceptional quality of service. Our service network covers the length and breadth of the country, with more than 179 franchisees across 995 towns, We feel that it is time to launch IFB Privilege - a truly rewarding loyalty programmed. More importantly, it is a 'thank you' gesture to all our loyal customers who have always believed in the superiority of our products and services.

IFB Privilege offers Blue, Gold and Platinum tiers. Your privileged status at each tier makes you eligible for multiple options. Just add to your range of IFB Home Appliance and look forward to new rewards.

IFB HOME APPLAINCES

Washing machines

The IFB washing machine has a special cycle do all the thinking for you. Choose from the various options like top loading and Front loading to get the desired washing cycle. Each cycle delivers the exact water temperature at the exact point in the cycle that each garment type requires along with proper spin speed.

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Clothes Dryer

IFB also produces good quality of clothes dryer for enjoying the privilege of modern Age.

Microwave Oven

IFB microwave ovens are the perfect example of a beautiful blend of performance and style. Be it grilling tandorie chicken on the rotisserie or cooking a family meal on a 20SC2, cooking will no more be a tiring experience. Its microwave range will set you free to indulge in all the things that you have dreamed of whilst enjoying the luxury of a hassle free cooking experience.

Dishwashers

The flow through heater is strong point in IFB.That disgust drove us to invent a hygienic, sealed drying system. The IFB system is completely closed. We use no air at all to dry your freshly washed and perfectly clean dishes. The wash water is super-heated by our flow-through heater (you knew we'd sneak that in somewhere, didn't you?), which sanitizes dishes and heats the stainless steel wash tub walls of the IFB's dishwasher. The heat from the walls condenses the moisture on the dishes, and the condensation then runs down the smooth stainless steel. The result? Spot-free, completely sanitized plates, glasses and silverware, with which you can't wait to eat a delicious meal.

IFB SERVICES

IFB provides one of the best sales after services

Facility in all over India including 1600+ cities and

Having toll free complain no. for the convenience of

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Customers.

Literature review

All washing machines work by mechanical energy, thermal energy and chemical energy action

Mechanical energy is imparted to the clothes load by rotation of the agitate top loaders or by the tumbling action of the drum in front loaders. Thermal energy is supplied by the temperature of the wash bath.

On the early mechanical bath timers the motors ran at a constant speed throughout the wash cycle, although it was possible for the user to truncate parts of the program, by manual advancing the control dial. However by the 1950 demand for greater flexibility in the wash cycle led to the introduction of electronic timers to supplement the mechanical timer. These

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electronic timers enable greater variation in such functions the wash time with the arrangement, the electronic motor is periodically switched off to permit clothing to soak, and is only re-energized just prior to a micro –switch being engaged/disengaged.

In early automatic washing machines, any changes in impeller/drum speed were achieved by mechanical means or by a rheostat on the motor power.

Despite the high cost of automatic washing washers, manufactures had difficulty in meeting the demand .although there were material.

Shortages during Korean war by 1953 automatic machine sales in the US exceeded those of wringer-type electric machines.

In the UK and most of Europe ,electric washing machines did not become popular unit in the 1950s.This was largely because of the economic impact of world war -2 on consumer market which did not properly rcover until the late 1950s.The early electric washers were single tub,wringer –type machines ,automatic washing machines being extremely expensive.During the 1960s,twin tub machines briefly became the popular helped by the low price of the Rolls Razor washers.Automatic washing machines did become dominant in the UK until well into the 1970s and by then were almost exclusively of the front-loader design.

INDIAN MARKET OVERIVEW

The washing machine market is valued at Rs. 1500 crore and is growing at the rate of

22% this year (2007-08) compared to last year. The fully automatic and semi-automatic

sub category is growing at the rate of 40% and 17% respectively. Washing machine sales

is cyclical in nature and its sales commences with the onset of monsoon.Major PlayersSome of the major players in the category of washing machine market are: • Whirlpool • LG Electronics India Ltd.

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• Videocon • Samsung • LG is the leader with 27% of market share. • Whirlpool has a market share of 17%. • Samsung has a market share of 14%

IFB is market leader in front loading washing machine with a market share of 28%

TYPES OFPRODUCTS

Fully automatic machines Semi-automatic machines Front loading washer Top loading washer

Before the liberalization of the Indian economy, only a few companies likeKelvinator, Godrej, Allwyn, and Voltas were the major players in theconsumer durables market, accounting for no less than 90% of the market.Then, after the liberalization, foreign players like LG, Sony, Samsung,Whirlpool, Daewoo, Aiwa came into the picture. Today, these players controlthe major share of the consumer durables market.

AIM AND OBJECTIVE:-

Aim and objective of this project was to know the market potential of IFB products in Meerut, Ghaziabad and Saharanpur. We gone through the survey and a research proposal to find what consumers and dealers think about this product. One important thing we tried to find out through this survey is viability of this product. We also tried to find out purchasing power of people of Meerut through this survey.

As a surveyor and management trainee we have our personal aim and objective. We tried to learn how a research takes place and it was first experience for us as a team to work for such a big name “IFB”.My aim was to learn how to make a research proposal and how

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it works when It come to real operations.Consusmer survey is really tough job we learn to read consumer psychology through this survey. Our aim was to learn which help us to make a good manager in future and we are very much succeed in getting our aim and objective through this project.

METHODOLGY

My Methodology of doing project was very straight and simple. Survey is very tough and tedious job. I put various questions to the dealer’s, consumers and for institute we went to administration head for direct interview. We also tried to know which brand has maximum sales. I put some question to know dealer affection to particular brand. We also try to find out competitors condition in the market of Meerut, Muzaffarnagar and Saharanpur.

As far as consumer survey is concern I took the samples only in Meerut city. I put all type of questions like psychological questions to know the thinking of customers regarding that product. I also try to find out more popular brand regarding various products. For this survey we collect data on two bases:-

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1) Primary data- These are the data that we collect directly from consumer or dealers by asking direct question with them.

2) Secondary data:-We have done some research work through internet and employes of IFB to know more about it.

My research work was mainly descriptive because our range of survey was wide. This methodology helps us to get wide range of information.

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2010

COMPILED BY: -

SANCHI SAKLANI

IFB6/24/2010

DEALER SURVEY:-Market Potential of Front loading washing Machine of IFB

REPORT ANALYSIS

We visited to 37 dealers for our research but only 23 dealers has front loading washing machine .So our sample size for front loading washing machine is 23.

We found maximum no. of dealer interested in IFB front loading washing machine.

We found that in front loading washing machine IFB is on the 1st position in market.LG and Samsung is on 2nd and 3rd position respectively.

IFB has maximum demand in front loading while Samsung and LG is on 2nd

and 3rd position.

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LG gives best sales promotional offer but most of loyal dealer of IFB told that it is IFB that was only biasness.

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About 90% dealer give brand assurance to their customer and 37.32% of them prefer IFB while only 27% of dealer gives brand assurance to LG front loading washing machine.

FINDINGS:-

We got our findings after our completion of research work. Our findings are as follows:-

1) 37.83% of dealer sell front loading washing machine while LG is on 2nd position after IFB with 18.90%.Haier and Sony has very small participation in market of front loading washing machine with 2.70% .Samsung is on 3rd position with 16.20% dealer sell it.

2) 43% dealer told that IFB has highest sale in front loading washing machine. LG is on 2nd

position with 24.92% while Samsung is on 3rd position with 18.91%.

3) 81.08% of dealer told that fully automatic washing machine sold more in comparison of semi automatic machine.

4) 48.64 dealers told that they get almost same margin on every brand while 16.21% dealer told that they get maximum margins in IFB.

5) 37.83% dealer told that IFB has best service after sales while 21.62% dealer

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told that Samsung has better sale sales service.16.21% dealer told that LG has better sales service.

6) 37.83% dealer told that LG give best sales promotion offer while 16.21% Dealer told that IFB and Samsung give best both sales promotional offers . 47% dealer gives assurance of IFB while 27% dealers give personal assurance to LG while purchasing washing machine

8 ) There is not single dealer who has service after sales authentication.89.19% dealer give personal assurance to their customer which affect customer buying decision while 10.81 % dealer do not give any personal assurance to their customer

S.W.O.T ANALYSIS:-

We have done SWOT ANALYSIS of Meerut zone to go through the strength, Weakness, Opportunity and Threat.

STRENGTH: - IFB strength in Meerut zone is its brand itself. Though it is a premium brand high class people are mostly brand loyal of IFB

WEAKNESS: - One of its weaknesses is ineffective promotion and high price.

OPPORTUNITIES: - IFB has opportunities because expense on white goods is increasing day to day by common people. Very few players make good front loading washing machine.IFB can take lead.

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THREAT: - Main threat for IFB is reach ability. It is le not as reachable as brand like LG and Videocon.IFB has very less no. of loyal dealer.

SUGGESTION &CONCLUSION:

We find conclusion from this survey but with conclusion we have added some suggestion regarding front loading washing machine market of IFB in Meerut Zone.

1) We found that there is very good market of Front loading washing machine of IFB but to keep this momentum IFB should have to make loyal dealer who can promote this brand.

2) One very serious complains we got to know from some dealer that area in charge only take care of some of dealers. This is creating cartel type situation among dealers as a area in charge we should have to avoid it because we can’t sale our product with the help of one or two dealer. This is creating dissatisfaction among some dealer and creating bad mouth of publicity.

3) One of important things we got to know from dealers that some of dealer of IFB in Meerut are selling machine only on order of customer. They have not put Front loading in display. We

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should have to visit our dealers randomly and we should have to be very careful in providing dealership.

4)LG and some of the brands are not very good in comparison of IFB but because of aggressive promotion in market they are in good condition in market of Meerut, Muzaffarnagar and Saharanpur.IFB should have to do some promotional work.

5) Most of the dealer told that Senorita Dx is mostly sold in their store.

Questionnaire

TO IDENTIFY COMPETITORS RANGE/PRICE/FEATURES FLT VIS A VIS IFB

DEALER SURVEY

Dear Dealer,

As the management student of Kohinoor Business School, Khandala we want your opinion regarding the product to serve you better. Please don’t be biased during answering following

questions.

Name: ………………………………….

Age: (1) below 25 (2) 25 – 35 (3) 35- 45 (4) more than 45

Gender: Male …………….. Female ………………….

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Q1. Which brands of Front Loading Washing Machine you sale in your shop?

( )LG ( )Samsung ( ) Onida ( )Videocon ( )IFB

Q2. Which brands has maximum sales in your shop?


Q3 Which type of Front Loading Washing Machine has maximum demand in your area & Why?

( ) Fully Automatic ( ) Semi Automatic

Q4 In which brand do you get maximum margin? Please arrange in descending order.


Q5. Which brand has maximum demand in this area? Please arrange in descending order.

( )LG ( )Samsung ( )Videocon ( )IFB

Q6. Which company is providing best after sales service ?


Q7. Which brand gives best sales promotion offers?


Q8 Which brand is best in terms of service ability?


Q9 Do you have authentication/certification of sales after service facility of any company?

( )Yes No( )

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If yes please specify ………………………………………….

Q10 Do you give personal assurance for any brand while selling Front Loading Washing Machines?

( ) Yes No( )

If yes please specify………………………………………………….

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2010

COMPILED BY:

SANCHI

SAKLANI

IFB

DEALER SURVEY -Competitors range/Price/ features of Microwave oven vis-à-vis IFB

REPORT ANALYSIS:-

With the help of this questionnaire we tried to find out market potential of microwave and also competitors of IFB market. We visited 28 shops who deal in oven including exclusive showroom of various brands.

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Mostly LG has maximum sale and convection type MVO has most sale

Convectional MVO (79%) mostly sale in Market of Meerut.

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Most of the dealer give personal of assurance for a brand in which 27.27% of them give personal assurance to IFB.

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More than 60% of dealers told that sale of IFB MVO has been increased and they are satisfied with the pricing strategy of IFB

FINDINGS:-

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1) It is interesting to see that LG is on the top position with 31% whirlpool and Samsung is on the 2nd and 3rd position respectively and IFB holds 4th position in the market with 12.71% of total sale.

2) 78.52% dealer told that convection microwave oven sale mostly in their shop. While no one told that Solo has maximum demand in comparison of convection and grill.

3) 64.28% dealer told that they get almost same margin in every brand.10.71% of IFB and Onida dealer told that they get maximum margin in these brand.

4) 25% dealer told that IFB has maximum demand in microwave oven while Onida is on 2nd

position with 17.85% and Bajaj is holding 3rd position with 14.28%.

5) 28.57% of dealer told that IFB is providing best service after sale. Onida and Samsung both are on 2nd position 14.28% dealer recommend them as a best service provider.

6) 32.14% dealer told that Videocon give best sales promotional offer,28.57% dealer told that LG give best sales promotional ,21.42% dealer told that IFB give best sales promotional offer.

7) It is interesting to see that not a single dealer has sales after service authentication/certification .All companies do their service after on their own.

8) 78.52% dealer give personal assurance to their customer while purchasing microwave oven this shows purchasing behavior of customer is influence by dealer at a great extent.

9) Out of 78.57% dealers who give personal assurance to any brand we find this out come. This graph shows that most of the dealer Suggest IFB 27.27% while 22.72% dealer

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suggest Videocon.13.63% of dealer suggest Bajaj and Ken star. Out of 28 dealers who sell Microwave oven we found 42.86% of them sell IFB MWO.

10) Out of 42.86% dealer of IFB 66.66% told that sale has been increased in last two quarter while only 8.33% told that sales is decreasing rest of 25% of dealer told that sales is constant

11) Out of 42.86% dealer of IFB only 66.66% dealer are satisfied with the pricing strategy of IFB while 33.33% of dealer are not satisfied with it.

S.W.O.T ANALYSIS:-

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We have done SWOT ANALYSIS of Meerut zone to go through the strength, Weakness,

Opportunity and Threat.

STRENGTH: - IFB strength in Meerut zone is its brand itself. Though it is a premium brand high class people are mostly brand loyal of IFB.

WEAKNESS: - One of its weaknesses is lack of awareness among common people & lack of advertisement.

OPPORTUNITIES: - IFB has opportunities because expense on white goods is increasing day to day by common people. .IFB can brand itself as the best brand among all brands.

THREAT: - Main threat for IFB is reach ability. It is le not as reachable as brand like LG and Videocon.IFB has very less no. of loyal dealer. Very new player are coming with low price with same technology.

CONCLUSION & SUGGESTION:-

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We find some conclusion and try to give some suggestion regarding dealer survey of

Microwave oven in Meerut zone.

1) We found that most of the dealer of IFB does not deal with microwave oven. They deal with some other brand like Ken star and Bajaj which are more economical than IFB. We suggest that

2) IFB should promote its brand and motivate dealers to keep it in shelves. This will attend customer attention.

3) One of important thing we notice during survey that Solo type of Microwave oven of IFB has very less sale .So IFB should have to take some step to increase its sale.

4)We found that many dealer of Meerut were promoting only with mouth but the reality was that they don’t have microwave oven. They told that they order when any customer has specific demand for microwave oven of IFB.

5)One of complain of dealer was people from IFB discriminate among dealer. We suggest that whatever will be the strategy of IFB for dealer but it does not like IFB is discriminating them even we discriminate.

6)Although IFB has dealer but still we have to search for some good dealer and try to give dealership for those who are loyal to some other brand. Converting dealer of other brand in to our brand will be like converting customer of other brand to our brand. The reason behind this idea is that most of the dealer gives personal assurance while selling their product.

6)We found that during survey dealer of various brand promote their own brand that’s why some of the statistics are in favor of IFB.

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QUESTIONNAIRE:-

To identify competitors range/price/features/ of Microwave oven vis-à-vis IFB

Dear Dealer,

As the management student of Kohinoor Business School, Khandala we want your opinion regarding the product to serve you better. Please don’t be biased during answering following questions.

NAME

AGEGENDERLOCATION

Q1. Which brands of Microwave oven you sale in your shop?


Q2. Which brands has maximum sales in your shop?


Q3 Which type of microwave oven has maximum demand in your area & Why?

( ) Convection ( ) Grill ( ) Solo

Q4 In which brand do you get maximum margin? Please arrange in descending order.


Q5. Which brand has maximum demand in this area? Please arrange in descending order.


Q6. Which company is providing best after sales service ?


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Q7. Which brand gives best sales promotion offers?

( )LG ( )Samsung ( ) Onida

( )Videocon ( )IFB

Q 8 Which brand is best in terms of serviceability?


Q9 Do you have authentication/certification of sales after service facility of any company?

( )Yes No( )

If yes please specify ………………………………………….

Q10 Do you give personal assurance for any brand while selling Microwave oven?

( ) Yes No( )

If yes please specify…………………………………………………..

Q11. Do you sell IFB Microwave oven?

( ) Yes No ( )

If yes IFB sales performance during last year.

( ) Increasing ( ) Decreasing ( ) Constant

Q12 Are you satisfied with pricing strategy of IFB?

( ) Yes ( ) No

IFB

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REPORT ANALYSIS :-

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CONSUMER SURVEY:-To Identify Scope &

potential of Front loading washing

machine

2010

COMPILED BY-

SANCHI SAKLANI

REPORT ANALYSIS:-

We took sample size of 70 consumers to know the market potential of Front loading washing machine.

More than 35 % people use FLWM. Among 35% user 42% of them use IFB washing machine

while LG is on 2nd position with 27% user use it.

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50% of users are satisfied with their brand and 65% of people told that they will recommend their brand to others while 34.61%told that they will not recommend their brand to other.

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4) Would you like to change your Top loading washing machine to Front loading washing machine ?

% preference of changes from Top loading to Front loading

Yes 64%

No 20%

Can't say 16%

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FINDINGS:-

1) In front loading IFB is ranked 1st by consumers while LG is ranked 2nd by consumer in Front loading washing machine while Videocon and Samsung is on 3rd and 4th point respectively with 20.45% and 19.36%.

2) About 38.46 % consumer told that washing machine has affected their life up to 50-60% while 34.61% told that washing machine affect their social, cultural and psychological life up to 80-100%

3) Out of 70 consumers 37.14% of consumer use front loading washing machine while 62.86 does not use it.

4) Out of 37.14% who use front Loading washing machine, 42.41% of them use IFB while LG 26.92% of them Samsung and Videocon are 11.54%.

5) 50% of consumers are satisfied with features in respect of price they have paid while 26.92 % consumers are not satisfied with it.

6) 64% of consumer told that they will prefer changes from top loading to front loading while 20% of them told that they do not want to change it.

7) 47.14% of consumer prefers clean washing as preference attribute of consumer while 20% prefer long durability.

8) 64.28% of consumer told that they prefer dealer while purchasing new washing machine while 15.71 % of dealer would like to prefer online shopping for washing machine.

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SUGGESTIONS & CONCLUSIONS:-

As far as suggestion and conclusion is concern of Front loading washing machine:-

1) Reach ability of front loading washing machine is very less as most of IFB dealer does not have display Front loading washing machine. Most of consumer has complained about it.

2) Most of consumer told that they can change their top loading with front loading washing machine so IFB should have to come with some exchange offer or have some sale strategy according to which even middle class people can enjoy premium brand.

3) IFB should have to increase their number of dealer to increase availability of Front loading washing machine.

4) IFB is a premium brand but today’s middle class has maximum purchasing power so IFB should have to do some changes in pricing strategy or come with the front loading washing machine which can be afford by middle class.

5) Most of people we found don’t know the brand IFB so IFB have to do some advertisement.

QUESTIONAIRE:-

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TO IDENTIFY SCOPE OF FRONT LOADER WM IN INDIAN MARKET

CONSUMER SURVEY

Dear Customer,As the management trainee of IFB company, we want your opinion regarding our product to serve you better. Please don’t be biased during answering following questions.

Name: ………………………………….

Age: (1) below 25 (2) 25 – 35 (3) 35- 45 (4) more than 45

Gender: Male …………….. Female ………………….

Income: (1) below 10,000 (2) (10,000 – 20,000)

(3) (20,000 – 30,000) (4) more than 30,000

Profession: ……………………………

1(a) Do you use Front Loading Washing Machine?

Yes( ) No( )

(b)Which brand do you use?

( )IFB ( )LG ( )Samsung ( )Videocon ( )Whirlpool

2. Is your washing machine provides enough features in respect of price of product (Cost vs. Benefit)?

( ) Yes ( ) No ( ) Can’t say

3. Would you recommend your washing machine to others?

( ) Yes ( ) No

4. Would you like to change your Top loading washing machine to Front loading washing machine?

( ) YES ( )No ( )Can’t say

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5. Rank the following attributes according your preferences by which Front loading WM is/will be better than current WM

(1) Long Durability ( )(2) Water Saving ( )(3) Detergent Saving ( )(4) Clean Washing ( )

6. Rank the following companies according your preferences if you supposed to buy front loading washing machine

( ) IFB ( ) Videocon ( ) LG ( ) Samsung ( ) Whirlpool

7. What mode of purchasing would you like to adopt to buy new Washing Machine

( ) Dealers ( ) Online (3) Brand Outlet

8. How much do you feel Front loading washing machine can fulfill your lifestyle, social, cultural and psychological need?

( ) 20% - 30% ( ) 50% - 60% ( ) 80% - 100% ( ) No

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2010

COMPILED BY: -

SANCHI SAKLANI

IFB

CONSUMER SURVEY:-To Identify Scope &

Potential of Microwave Oven

REPORT ANALYSIS:-

We asked this question from 70 people and we found that 30 of them have MVO so we took sample size of 30 people. We found that every one knows about MVO.

Most of the consumer prefer LG and Onida .i.e. 32% and 27% while only 18% of customer have IFB .Among users 33% told that they will recommend their brand to others while 21% refuse to do so.

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This question is asked from all 70 people in which 47.14% are interested in IFB MVO but most of the interested customer told that price is major obstacles.

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FINDINGS:-

1) 100% people are aware about the Microwave Oven.

2) 29.17% of consumer prefers LG Microwave while 25% of consumer prefers Onida Microwave and 16.67% of consumer prefers IFB Microwave.

3) 83.33% consumers say that they use Microwave more than twice a day it shows the usefulness of the Microwave.

4) 37.50% of consumers say that they are satisfied with their Microwave Oven but 25% of consumers are dissatisfied with their Microwave ovens.

5) 45.83% of consumers recommend their brand of Microwave Oven to others but to the some extent while 33.33% of consumer fully recommends their brand to others.

6) 41.30 % of consumer told that price is major obstacles in buying MVO while 23.90% told that due to less use of it they do not buy it.28.26% of consumer where not able to answer this question.

7) About 61.43% of consumer prefers 61.43% convection MVW while 28.57% prefer solo+ grill of MVO. On the other hand 10% consumer likes to buy only solo model of MVO.

8) Most of the consumers (77.40%) told that they get information about consumer durables like MVO from their Peer group while only 11.43 % of consumer told that they get information from magazine. only 5.71% of consumer told that they get information from magazine

9) 82.28% of consumer told that they prefer dealer for buying their product like MWO while 11.43% prefer teleshopping for buying product like MVO.

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10) 34.28% of consumer told that they are price sensitive and their buying decision mainly depend on price the second preference they give to brand and then aesthetics and after that quality comes.

11) 47.14% of consumers prefer IFB MWO while 52.86% people say no to IFB MWO.

12) 72.86% people say yes that they are price sensitive and the price of IFB MWO oven affect their purchase decision. According to them price of IFB MWO is quite high in comparison to other brands.

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SUGGESTIONS & CONCLUSION:-

1) As we find most of the MWO consumers are of average income group i.e most price sensitive class in our society. That’s why IFB should have to come with good promotional offers in market.

2) Most of the consumers told that they want to buy convection MWO but they already had the solo one. So IFB should have to come with some exchange offer.

3) IFB should increase the availability of their products so that the product can easily be available to the consumer at every corner of the city.

4) IFB should promote its brand through brand promotion activities like exhibition or road shows to increase its awareness.

5) In the survey we find that most of the consumer does not know how to use the MWO so IFB should have to come up with some learning programs.

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QUESTIONAIRE

TO IDENTIFY SCOPE OF MICROWAVE OVEN IN INDIAN MARKET

Dear customerAs the management trainee of IFB company, we want your opinion regarding our product to serve you better. Please don’t be biased during answering following questions.

NAME…………………………………………….AGE…………………………………...GENDER……………………………OCCUPATION………………………

Q1. Are you aware of Microwave oven?

( ) Yes ( )No

Q2. Do you have microwave oven?

( ) Yes ( )No

Q2a.IF yes, which company’s Microwave oven do you have?

( ) LG ( ) Onida ( ) Videocon ( ) Samsung ( ) IFB

I. How frequently do you use microwave oven?

( ) Once in a day ( ) twice in a day ( ) more than twice

II. Are you satisfied with your Microwave oven?

( ) Very satisfied ( ) Satisfied ( )Neutral ( )Dissatisfied

III. Would you recommend yours brand of Microwave oven to others?

( ) Yes ( )No ( )At Some Extent

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Q2 (b). IF No,

I. What you think is major obstacle to buy MWO?

( ) Lack of awareness ( ) Price ( )Less Uses ( )Can’t say

Q3. Which microwave oven will you prefer most?

( ) Convection ( ) Solo + Grill ( ) Solo

Q4. From where do you get information about the consumer durables like MWO ?

( ) Magazine ( ) News Paper

( ) TV ( ) Neighbor/Colleague/Friends/Relatives

Q5. What mode of purchasing you adopt to buy Consumer durables?

( ) Dealer ( ) Online ( ) Tele shopping ( ) others (please specify)……………

Q6. Do you feel that Microwave oven can fulfill your lifestyle, social, cultural and psychological needs?

( ) None ( ) 20% - 30% ( ) 50% - 60% ( ) 80% - 100%

Q7. Which attributes do you look during purchasing consumer durables?

( ) Quality ( ) Performance ( ) Price ( )Brand ( )Aesthetic

Q8. Do you like to buy IFB Micro wave oven?

( ) Yes ( ) No

Q9. Does the price range of IFB Microwave oven affect your buying decision?

( ) Yes ( ) No

45

LIMITATION OF THE STUDY:-

Though I tried my best to get information and elicit responses required for preparing the project report and management of organization. Yet there were some problems faced by me. These are as follows:-

1) Time was a constraining factor. The duration of research was only eight week and we were working on eight project. It seemed to be a short duration for a through study of the Subject.

2) We were unaware of demographic condition and we were new in that Meerut zone.

3) We were covering 3 districts for dealer survey it was really tough job regarding accommodation and transportation.

4) Unavailability of dealers and busy schedule of customer was exclusive factor because of which a lot of time was wasted during data collection.

5) There was possibility of sampling error

6) The Size of sample was small in relation to the total universe.

46

BIBLIOGRAPHY:-

A project making is a tough and tedious job. It needs full concentration and of course different sources available.

It would not have been possible if the below mentioned sources

Would not have been there:

1) Internet

2) Dealers & consumers supported in spite of their busy schedule.IFB office member and Varun Chawla and Alok sir who guide us.

3) Our mentor and college faculty Mr.Pawan he always boosts our morale and motivates me for work.

4) My research and marketing books and what ever I ever learned from Mr. Sarwan Krishnamurthy (research & operation) faculty helped me a lot.

5) Last but not the least, my friends and colleague who were also doing their SIP from IFB, without them we would not have been able to complete our survey.

47

PRICE RANGE AND CAPACITY OF IFB’S PRODUCT AND ITS COMPETITORS

48

FRONT LOADING WASHING MACHINE PRICE LIST &CAPACITY OF IFB AND ITS COMPETITOR

IFB

49

S.No. Model No. Capacity Price

1 Digital 7kg 7kg 31,690/-

2 Senator Dx 6kg 29,500/-

3 Senator 6kg 6kg 27,500/-

4 Elite Sx 5.5kg 26,100/-

5 Elite Dx 5.5 kg 24,700/-

6 Senorita DX 5.5kg 22,250/-

7 Serena SX 5.5 kg 21,450/-

LG PRICE LIST AND CAPACITY OF FRONT LOADING

S.No. MODEL CAPACITY PRICE

1 F1403TD25 8.0KG 38,490/-

2 F1256QDP 7.0KG 35,390/-

3 F1256QDP5 7.0KG 34,890/-

4 F1256NDP 6.0 KG 32,390/-

5 F1256NDP5 6.0KG 31,890/-

6 F1056LDP 5.5KG 26,490/-

7 F1068LDP 5.5KG 22990/-

8. F8068LDP 5.5KG 20,990/-

50

SAMSUNG PRICE LIST AND CAPACITY OF FRONT LOADING

S.NO. MODEL CAPACITY PRICE

1 WF8754CPG 7.5KG 34,190/-

2 WD7652C8 6.5KG 37,900/-

3 WF8652SEA 6.5KG 31,490/-

4 WF8652NFV 6.5KG 30,390/-

5 WF8650NHW 6.5KG 29,390/-

6 WF85502SEH 5.5KG 26,390/-

7 WF8550NHS 5.5KG 25,790/-

8. WF8550NHW 5.5KG 24490/-

51

MVO PRICE LIST &CAPACITY OF IFB AND ITS COMPETITOR

IFB


1. 30SC2(CONVECTION) 30LT. 13,500/-

2. 28SGR1S(ROTYSSERIE) 28LT. 9,900/-

3. 25 SC2(CONVECTION) 25 LT. 12,500/-

4. 25 PG1S(GRILL) 25LT. 8,500/-

5. 20SC2(CONVECTION) 20LT. 7,000/-

6. 20PG2S(GRILL) 20LT. 6,000/-

7. 17PG1S(GRILL) 17 LT. 4,900/-

8. 17PMMEC( SOLO) 17LT. 3,900/-

MVO PRICE LIST AND CAPACITY

52

LG


1. MC 8088NRH (CONVECTION)

30 14,125/-

2. MC 8087ARH (CONVECTION)

30 13,450/-

3. MC 8047ARH (CONVECTION)

30 12,970/-

4. MH7046S (GRILL) 30 8,370/-

5. MC 7648WSH (CONVECTION)

26 11,155/-

6. MC7688DP

(CONVECTION)

26 9,425/-

7. MH 6558F( GRILL) 25 7,315/-

8. MH 6347B (GRILL) 23 6,735/-

53

MVO PRICE LIST AND CAPACITY

SAMSUNG


1. CE1072LTS ( CONVECTION) 28 LT. 15,900/-

2. CE1031L ( CONVECTION) 28 LT. 11,900/-

3. CE1031LAT ( CONVECTION) 28 LT. 12,400/-

4. GE83ZL-Y (GRILL) 23 LT. 7,400/-

5. GE83YL (GRILL) 23 LT. 7,900/-

6. G273V (GRILL) 20 LT. 5,900/-

7. MW71E (SOLO) 20 LT. 3,900/-

54

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Documents

FINAL PROJECT REPORT1[1]