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Project report on consumer behaviour123 Document Transcript

  • 1. SIP PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDSWHIRLPOOL OF INDIA LTD (REF. CATEGORY) SUBMITTED BY: GOLAM AHAMED ROSUL ENROLLMENT NO: 030101013 UNDER THE GUIDANCE OF: PROF. MALAY BHATTACHARJEE
  • 2. ACKNOWLEDGEMENTMy first experience of Summer Internship Project on CONSUMERBEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD (REF.CATEGORY) has been successfully done, thanks to the support ofeveryone. I would like to acknowledge all the people who have helped usin this project. However, I wish to make special mention of thefollowing. First of all I am thankful to our Prof. Mr. Malay Bhattacharyaunder whose guideline I am able to complete our project. Throughoutmy project he gave through instruction regarding the project anddifferent sources. And of curse Mr. Yogesh Kumar being a companymentor he provided me all the essential information, holds the samespace of honour. I am wholeheartedly thankful to them for giving metheir valuable time & attention and for providing me a systematic wayfor completing my project in time.I must make special mention of Mr. Google, who gave me the secondarydata for my research and helped me a lot to complete the project. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 2
  • 3. MENTOR’S APPROVAL Date: To whom So Ever It May ConcernSubject: CERTIFICATE OF PROJECT COMPLITIONManagement Trainee’s Name: GOLAM AHAMED ROSULProject Title: CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIALTD. (REF CATEGORY)Dear Sir,This is to certify that Mr. Golam Ahamed Rosul was enrolled in Whirlpool of Indialtd. for his Summer Internship Project at Shivam road, Hyderabad. His projectduration was from 27 th of May to 22 July. His learning ability, Discipline,Punctuality, and Behaviour was good. He has successfully completed the project.His overall conduct was very good. He abided by the Norms & Rules of thecompany. YOGESH KUMAR (Assistant Manager Operations & Client Servicing) PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 3
  • 4. DECLARATIONI, Mr. Golam Ahamed Rosul, student of Globsyn Business School, National Campus, herebydeclare that this project report entitled “CONSUMER BEHAVIOR TOWARDSWHIRLPOOL OF INDIA LTD. (REF. CATEGORY)” is written and submitted by me underthe guidance of Mr. Yogesh Kumar (Assistant Manager Operations & Client Servicing) is myoriginal work.The findings in this report are based on the data collected by me during the course of the project.While preparing this project, I have not copied from any other report.Finally, I am very thankful to Prof. Malay Bhattacharya for his valuable academic guidance inmy project work.I understand that any coping is liable to be punished in a way that the university authorities deemfit.Date:- Signature of Candidates GOLAM AHAMED ROSUL PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 4
  • 5. TABLE OF CONTENTS TITLE PAGE NO.EXECUTIVE SUMMARY 8INTRODUCTION 9SCOPE OF THE PROJECT 10OBJECTIVE OF THE PROJECT 10LIMITATION OF THE RESEARCH 11INDUSTRY OVERVIEW 12COMPANY PROFILE 16VISION AND MISSION 17TYPES OF REFRIGERATOR 18INTRODUCTION OF NEO I-CHILL 20PRODUCT OVERVIEW 21RESEARCH METHODOLOGY 26QUESTIONNAIRE FORMAT 29DATA ANALYSIS 30FINDINGS 354P APPROACH 39AIDA MODEL 40CONSUMER DECISION MAKING 41PROCESSBCG MATRIX 43SWOT ANALYSIS OF NEO I-CHILL 45CONCLUSION 46RECOMMENDATION 49 PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 5
  • 6. BIBLIOGRAPHY 50APPENDIX 51 LIST OF TABLES TOPIC PAGE NO. CONSUMER DURABLE 12PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 6
  • 7. LIST OF FIGURES TOPIC PAGE NO.GROWTH OF CONSUMER DURABLE 15MARKETAWARENESS OF NEO I-CHILL 30INTERESTED ABOUT NEO I-CHILL 31REASONS FOR PURCHASING NEO I- 32CHILLSALES REPORT OF 8 WEEKS 33PURCHASE DECISION MAKER 34CONSUMER DECISION MAKING 41PROCESSBCG MATRIX 43 PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 7
  • 8. EXECUTIVE SUMMARYThe basic concept of my project “Consumer behavior towards Whirlpool of India Ltd (Ref.category)” was to find out how the customers react while purchasing a refrigerator.For this I had got a training of product knowledge of wide range of product series (limited to ref.category) manufactured by Whirlpool of India Ltd. Consumer retention is the key success forany competitive market. An effort was made to ascertain and analysis customer views andpreferences for the new refrigerator Neo I-Chill, launched by the brand Whirlpool through theprocess of brand recall. Also, a detailed study was made to understand the performance patternof major competitors of refrigerators.In doing so, it was possible to examine the consumer behavior while purchasing a refrigerator ofthe brand Whirlpool and its competitors. During the course of this project, I was fortunateenough to study the promotional campaign carried.My complete focus was on the new series of refrigerator- “Neo I-chill” launched by Whirlpool ofIndia Ltd. I have been involved with various promotional activities for the new refrigerator. Thisreport contains the findings arrived after detailed analysis of the data received through filing upthe questionnaires by the users of refrigerators at various areas of Hyderabad.The promotional activities like giving photo frames, bottle openers as complementary gift werecarried out at the Reliance Digital outlet. In this activity I have demonstrated the various series ofrefrigerators present in the outlet and handled various queries regarding the products and sold 36Whirlpool refrigerators. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 8
  • 9. INTRODUCTIONIn the present competitive world if any business organization has to survive it needs to keep aneye on various forces operating in the market. More over competitors constantly try to win overothers. In this scenario, every business organization needs to monitor the changes taking place inthe market so that they are not caught. Company‟s ability to maintain satisfying customerrelationships requires an understanding of consumer buying behaviour. This refers to the buyingbehaviour of consumers who purchase products or services for their personal or household use.Consumers have limited time, energy and financial resources. Within the available resources,they make purchase and consumption choices as they wish. Consumers purchasing decisionstake place over a period of time. The overall goal during this decision process is to evaluatevarious alternatives and choose the product that satisfies the consumer in an optimal way.Similarly when customers make their purchase decision they get influenced by several majorfactors. These factors are:  Demographic,  Social  Cultural etc.The consumer‟s degree of interest in a product and the importance he/she places on this productdetermines the consumer‟s level of involvement. When customer comes for the purpose ofpurchasing a refrigerator, they consider many things in their mind such as capacity, storage, starrating etc. Because they know that they are purchasing a durable product and they are not goingto purchase in frequently basis. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 9
  • 10. SCOPE OF THE PROJECT:  This report will help to understand the consumer behaviour towards purchasing a new Refrigerator.  It also opens the various factors which can affect the purchase decision.  This report provides a frame of mind of people, what are the expectations of consumer and up to how much level those expectations can meet.  The main purpose of the study is to aware the customers about the new refrigerator Neo i- chill.OBJECTIVE:The purpose of the project is to understand the various key, external and internal variables whichinfluence various market segments while buying refrigerators. However the main objectives ofthe project are:  To get exposed to the practical situations of the business.  To know how things work practically in corporate.  To learn to interact with various corporate people.  To know the effects of brand value of Whirlpool.  To know consumer behaviour while purchasing a refrigerator.  To make people aware about the new refrigerator Neo i-chill.  To sale the Neo i-chill refrigerator.  To know the consumer view regarding service/after sales service.  To know various strategies used by different companies to attract consumers.  To know the consumer preferences.  To analyze the awareness among public about the Whirlpool products.  To increase the sales of the refrigerators of the brand Whirlpool. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 10
  • 11. LIMITATIONS OF THE RESEARCHThere are some limitations of the human beings which is reflected in this research. The followingare the limitations of this research study.  Taking interview of the respondents was quite a difficult job. Because there were customers shown unwillingness to respond to my questions.  The study of promotional activity was conducted only in the Reliance Digital in Hyderabad.  The promotional activities were done only at showroom.  The sample size of 80 might not represent the whole population, as the sample size of 76 is too small for the whole population of Hyderabad.  Most of concern person were busy with their work.  Many of the respondents did not submit their form properly filed.  Some of the customer shown their interest only to get the complimentary gift, and not for the refrigerator. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 11
  • 12. INDUSTRY OVERVIEWDurable goods are those which don‟t perish so quickly, yielding utility over time rather than atonce. Examples of durable goods include electronic equipment, home furnishing and fixtures,photographic equipment, leisure equipment and kitchen appliances. They can be furtherclassified as either white goods, such as refrigerators, washing machines and air conditioners andbrown goods such as blenders, cooking ranges microwaves or consumer electronics such astelevisions, DVD players etc. such big-ticket items typically continue to be serviceable for threeyears at least and are characterized by long inter-purchase times.The Indian consumer durables segment can be divided into 3 groups:White Goods Kitchen appliances/Brown Consumer Electronics goods  Air conditioners  Mixers  Televisions  Refrigerators  Grinders  Mobile phones  Washing machines  Microwave ovens  MP3 players  Sewing machines  Iron  DVD players  Speakers and audio  Electronic fans  VCD players machines  Cooking range  Watches and clocks  Chimneys  Cleaning equipments  Other domestic appliances PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 12
  • 13. PERFORMANCES:India‟s consumer durables market is riding the crest of the country‟s economic boom. Driven byyoung population with access to disposable incomes and easy finance options, the consumermarket has been throwing up staggering figures. The Indian durables market, with a market sizeof US$ 27.38 billion in 2010-11, has grown by 6.1% over the previous year.In the past 10 years, global market has witnessed a surge in demand as economics such as Brazil,Mexico, India and China have opened up and begun rapid development, welcoming globalizationand privatization. The consumer durables industry has always exhibited impressive growthdespite strong competition and constant price cutting. Given the strong correlation betweendemand for durable goods and income, the industry naturally suffered at the time of global meltdown. However, projection of current year going forward are very optimistic, as consumersresume spending, and producers lunches the affordable products to grab the new customers.CHALLENGES:The biggest threats to local industry going forward are supply-related issues pertaining todistribution and infrastructure, as well as demand issues due to hard competition from importedgoods. The lack of well developed distribution can create a challenge for the industry. Inaddition, regular power cuts and poor linkages make systematic production, assembly anddelivery problematic.On another side demand for a brand can fluctuate due to the entrance of various MNCs in thesame industry. Customers have increasing choice from both domestically produced andimported goods, with similar features. This homogeneity makes it difficult for players to remainahead of competition. The largest home appliances MNCs incorporated in India are WhirlpoolIndia, LG India and Samsung India and home grown brands are Videocon, Godrej Industries andIFB. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 13
  • 14. FUTURE IN INDIA:India is set to undergo a major transform over the next two decades with sustained growthresulting in dramatic poverty reduction. India‟s consumer market is set to explode the nextdecades with total private consumption growing from $370 billion to over $1,500 billion by2025. Contrary to popular belief, this growth will not be driven by population growth or bydramatic changes in household savings behaviour, but rather almost entirely by rising incomes.The size of India‟s market will, however, still be tied closely to its large population, with averageper capita consumption growing to only about $1,000 by 2025. Overall, the industry‟s futureremains robust, and interested applicants will benefit from a holistic learning experience. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 14
  • 15. Source: secondary data PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 15
  • 16. COMPANY PROFILEWHIRLPOOL INDIA LTD.Whirlpool, right from its inception in 1911 as first commercial manufacturer of motorizedwashers to the current market position of being worlds number one manufacturer and marketerof major home appliances, has always set industry milestones and benchmarks. The parentcompany is headquartered at Benton Harbor, Michigan, USA with a global presence in over 170countries and manufacturing operation in 13 countries with 11 major brand names such asWhirlpool, KitchenAid, Roper, Estate, Bauknecht, Laden and Ignis. The company boasts ofresources and capabilities beyond achievable feat of any other in the industry.Whirlpool initiated its international expansion in 1958 by entering Brazil. However, it emergedas truly global leader in the1980s. This encouraging trend brought the company to India in thelate 1980s. It forayed into the market under a joint venture with TVS group and established thefirst Whirlpool manufacturing facility in Pondicherry.Soon Whirlpool acquired Kelvinator India Limited in 1995 and marked an entry into Indianrefrigerator market as well. The same year also saw acquisition of major share in TVS jointventure and later in 1996, Kelvinator and TVS acquisitions were merged to create Indian homeappliance leader of the future, Whirlpool India. This expanded the companys portfolio in theIndian subcontinent to washing machines, refrigerator, microwave ovens and air conditioners.Today, Whirlpool is the most recognized brand in home appliances in India and holds a marketshare of over 25%. The company owns three state-of-the-art manufacturing facilities atFaridabad, Pondicherry and Pune. Each of these manufacturing set-ups features an infrastructurethat is witness of Whirlpools commitment to consumer interests and advanced technology.The companys brand and image speaks of its commitment to the homemaker from every aspectof its functioning. It has derived its functioning principles out of an undaunted partnership withthe homemakers and thus a slogan of “You and whirlpool, the worlds best homemaker” dots itspromotional campaigns. The products are engineered to suit the requirements of „smart, PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 16
  • 17. confident and in-control homemaker who knows what she wants. The product range is designedin a way that it employs unique technology and offers consumer relevant solutions.Operational Excellence: Company believes in 3 steps process those are, know a customer, be acustomer, and serve a customer.VISION AND MISSION:The company‟s pervasive vision is, “Every Home, everywhere, with pride, passion and performance”,rests on the pillars of innovation, operational excellence, customer-centric approach and diversified talent.These are embedded within the company‟s business goals, strategy, processes and work culture.Be it Whirlpool‟s products that are the result of innovation and operational excellence to meet every needof the consumers or the people behind these products that come from a wide spectrum of backgrounds,everything Whirlpool does features a distinct Whirlpool way .PRODUCTS OF WHIRLPOOL INDIA:There are various products of Whirlpool that influence the home appliance market or consumerdurable market of India. Those products are:  Refrigerators  Washing Machines  Micro Waves  Air Conditioners  Water Purifiers  And various Accessories. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 17
  • 18. TYPES OF REFRIGERATOR:Refrigerators can be classified into two types, single door and multi doors. Here are someWhirlpool refrigerator products below,SINGLE DOOR REFRIGERATORS:Single door refrigerators maintain Direct Coolingprocess or one way cooling process.Whirlpool India launched various series of DC orsingle door Refrigerators, those are –  Whirlpool Genius series has three types, those are – Royal, Premium, and Supreme. These refrigerators are all 180 L to 220 L capacity.  Whirlpool I-Magic series also fall in single door category.  Whirlpool Proton series has the single door refrigerators of 220 Liter capacity. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 18
  • 19. MULTIDOOR REFRIGERATORS:Multi door refrigerators are having auto defrostationsystem. So, these types of refrigerators are called FrostFree (F.F) refrigerators. Whirlpool India has launchedmany series of multi door refrigerators those series are,Master Mind, Protton, I-Chill etc. these are basicallyFrost Free refrigerators.In my project work, my main focus was on the special and latest series of Frost Free refrigeratorNeo-I Chill of Whirlpool India. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 19
  • 20. INTRODUCTION OF NEO I-CHILL:Neo I-Chill is a latest series of refrigerators, has been introduced by Whirlpool India in 2012. It‟sa double door refrigerator having the capacity of 340 Liter and above. It has been launched inthree colours, those are- Swiss Silver, Graphite, and Real Steel. The latest technology enabledrefrigerators attract the customer more and it is also energy efficient. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 20
  • 21. PRODUCT OVERVIEWMODELS AND SPECIFICATIONS OF NEO I-CHILL:Whirlpool has launched some selected models for the latest series, those are- PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 21
  • 22. 1) IC355 TCGB4 KEY FEATURES:  340 Liter Capacity  4 Star Rating  Door Alarm  Push In Gasket  Deep Freeze Technology  6th Sense Tower Cooling  Quick Chill Beverage Zone  3 Glass Shelf  Deep Freezer with Chilling Gel 2) IC355 FC GB4 KEY FEATURES:  340 Liter Capacity  4 Star Rating  Door Alarm  Push In Gasket  Deep Freeze Technology  6th Sense Tower Cooling  Quick Chill Beverage Zone  3 Glass Shelf  Deep Freezer with Chilling Gel  Can Rack 3) IC355 ACGB4 KEY FEATURES:  340 Liter Capacity.  4 Star Rating  Door AlarmPROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 22
  • 23.  Electronic Control  Auto Cool  3 Glass Shelf  Active Deo  Can Rack 4) IC355ACGB5 KEY FEATURES:  340 Liter Capacity.  5 Star Rating  Door Alarm  Push In Gas Kit  3 Glass Shelf  Auto Cooling 5) IC375 FCGB4 KEY FEATURES:  360 Liter Capacity.  4 Star Rating  Door Alarm  Push In Gas Kit  3 Glass Shelf  Flexi Cool 6) IC375 ACGB4 KEY FEATURES:  360 Liter Capacity.  4 Star Rating  Door Alarm  Push In Gas KitPROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 23
  • 24.  3 Glass Shelf  Auto Cooling 7) IC375 ACGB5 KEY FEATURES:  360 Liter Capacity.  5 Star Rating  Door Alarm  Push In Gas Kit  3 Glass Shelf  Auto Cooling 8) IC425TCGB4 KEY FEATURES:  410 Liter  4 Star Rating  Door Alarm  Push In Gas Kit  6th Sense Tower Cooling  Quick Chill Beverage zone  3 Glass Shelf  Led lights in Refrigerator 9) IC425 ACGB4 KEY FEATURES:  410 Liter  4 Star Rating  Door Alarm  Push In Gas KitPROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 24
  • 25.  6th Sense Tower Cooling  Quick Chill Beverage zone  3 Glass Shelf  Led lights in Refrigerator  6th Sense Auto Cooling  Choco BoxAs a product the Neo-I chill has so many technology enabled. It has the capability to make ice50% faster comparing to other brands and in the refrigerator compartment that chills bottles 40percent faster than standard refrigerators. The products also retain cooling for 25 percent longerduring power outages. The latest technologies that featured the Neo i-chill are as below: th  6 Sense Tower Cool: It provides Uniform Cooling across Shelves.  Quick Chill Beverage Zone: Dedicated Zone for Bottles & Cans.  Ice Mate: Removable Container to provide flexibility between Ice or Space .  Largest Vegetable Storage: Biggest vegetable Storage in its segment#.  Can Holder: Simple to use, foldable Can rack to store Cans  Beverage Caddy: For Storing and carrying beverages.  Ice Cream Zone: Dedicated Ice Cream Zone to keep ice cream in its original Form*.  Choco Box: A space especially designed to store treats for your kids sweet tooth and yours too. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 25
  • 26.  Freshonizer: Freshonizer in Vegetable Crisper to provide 7 Days* Garden Fresh Vegetables.  Door Lock: Lock your door for safety.  Ice Twister: Ice twister to store ice and take it out in Easy twist Action.  Toughened Glass Shelf: Toughened Glass Shelves to store heavy utensils. Disclaimer: * Under standard test conditions. # In comparison with select models.PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 26
  • 27. RESEARCH METHODOLOGYDEFINITION:Research refers to „a search for knowledge‟. It can be defined as a scientific and systematicsearch for pertinent information on a specific topic.Research comprises defining and redefining problems, formulating hypothesis or suggestedsolutions; collecting, organizing and evaluating data; making deduction and reachingconclusions; and at last carefully testing the conclusions to determine whether they fit theformulating hypothesis – Clifford Wood.RESEARCH METHODOLOGY:It is a way to systematically solve the research problem. It may be understood as science ofstudying how research is done scientifically. To complete a research successfully it is required tostudy the subject thoroughly. As the prime objective of the project is to know the consumerbehaviour while purchasing a refrigerator, a research methodology adopted that is basicallybased on the primary data which has been collected during my internship. Secondary data hasbeen used to support the primary data whenever needed.RESEARCH DESIGN:A research design is the determination and statement of the general research approach or strategyadopted for the particular project. It is the heart of the planning. If the design adheres to theresearch objectives, it will ensure that the client need will be served.Research design is a plan structured and strategies of investigation. It is the arrangement ofcondition and analysis of data in a manner to combine relevance to the research purpose witheconomy in procedure. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 27
  • 28.  In order to achieve the objective it was necessary to talk to the customers and public to draw the conclusions regarding the objective.  For visiting the customers and publics to collect the relevant information and documenting those; a questionnaire has to be needed. The questionnaire was provided to me and that was in such a manner to achieve the objective of the research.NATURE OF RESEARCHQuantitative type of research has been used. As all the data was based on numerical figuresobtained in the survey.TYPE OF QUESTIONSThe questions were self-administered, with a view to obtain maximum information from therespondent that is why the questions were straightforward.Data collection There are two types of data collection methods:  Primary Data  Secondary DataPRIMARY DATAI have taken great care while collecting primary data to answer that it is relevant, accurate,correct and unbiased.I met them personally to get the primary data with the help of Face to Face Interview andQuestionnaire. In some cases I have taken the help of Telephonic Interview too. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 28
  • 29. SECONDARY DATASecondary data consists of information that already exists somewhere, having been collected foranother purpose. I have collected secondary data from the websites of different operators andlibrary. Secondary data in this study has provided me an insight and helped me to form an outlinefor the core objectives established. Here the secondary data has helped me to understand theconsumer behaviour of the other series of refrigerator of Whirlpool.SAMPLE SIZE:I have taken sample size of 76 customers of refrigerator.Sampling Unit:The respondents who were asked to fill out the questionnaires are the Sampling units. Thesecomprise of Government employees, businessman, bachelors etc.SAMPLING AREA:I had to collect data from the customer of Reliance Degital and my area was Shivam Road,Hyderabad.QUESTIONNAIRE:A Questionnaire is a research instrument consisting of a series of questions and other promptsfor the purpose of gathering information from respondents. For my project, questionnaire formatwas given by my company guide. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 29
  • 30. QUESTIONNAIRE FORMAT:Name: ____________________________________________________Telephone/Mobile Number: ___________________________________Email ID: __________________________________________________When do you plan your next refrigerator purchase? _________________Will you consider Neo I chill while making your next purchase? Yes NoIf yes, why? ________________________________________________ANALYSIS: I have used pie charts and some other statistical measure to analyze theresponds. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 30
  • 31. DATA ANALYSISI had made people aware that the new refrigerator has been launched, and demonstrated the newrefrigerator Neo i-chill to 170 customers. Some of the customers knew about the new refrigeratorNeo i-chill and most of them did not know about the Neo i-chill. And after getting informationmany of them shown their interest for that new refrigerator to purchase and some of thempurchased that refrigerator. I have collected their responding and analyzed those.While collecting data directly from the customer, many questions had been asked, and had beennoted down those data. Now, at the end of my project I have analyzed the collected data. Hereare some representation of my analysis of primary data and secondary data.1. Do you know about the new Whirlpool refrigerator Neo i-chill? Awareness about Neo I-chill 8% YES NO 92%Source: Primary data PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 31
  • 32. Interpretation: When I asked customers that did they know about the new Whirlpoolrefrigerator Neo i-chill or not, I found that 8% of them they knew about the new launchedrefrigerator and 92% of the customers did not know about the refrigerator Neo i-chill. So, it hasbeen known that most of the customers did not know about the new refrigerator.2. Will you consider Neo I-chill while making your next purchase? INTERESTED ABOUT NEO I-CHILL YES NO 34% 66%SOURCE: Primary dataInterpretation:I demonstrated the Whirlpool refrigerator Neo i-chill and took notes from the customers throughthe questionnaire. According to the questionnaire survey (responds given by the customers), Ifound that that there are 34% people interested to purchase the Neo i-chill. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 32
  • 33. 3. Reasons for preferring Neo i-chill: Prefered features of Neo i-chill 11% 8% 37% FASTER COOLING FLEXI COOL 22% CAPACITY GOOD TECHNOLOGY 22% OTHERSSOURCE: Primary dataInterpretation: When I asked the customer, the reason behind preferring Neo I-chillrefrigerator I got too many response. The major responses were faster cooling (11%), flexi cool(8%), capacity (22%), good technology (22%) and other (37%). From the analysis, we canunderstand the reason for which they preferred Neo i-chill. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 33
  • 34. SALES REPORT OF WHIRLPOOL REFRIGERATORS DURINGMY INTERNSHIP AT RELIANCE DEGITAL, SHIVAM ROAD,HYDERABAD:Sales report: Chart Title Neo i-chill Other Whirlpool 14% TOTAL WHIRLPOOL REFRIGERATORS SOLD: 36 UNITS 86%Interpretation:I sold 36 units of refrigerator during my 8 weeks of internship. Out of which 14% was the newrefrigerator Neo i-chill and 86% was other Whirlpool refrigerators. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 34
  • 35. During the tenure of my internship, I got to know too many things about the feedback ofWhirlpool refrigerators, consumer behaviour while selecting and purchasing a refrigerator.4. PURCHSE DECISION MAKER: DECISION MAKER 44% MALE FEMALE 56%SOURCE: Primary dataInterpretation:While selling the refrigerators, one important concept I got to learn. I found that 44% of thepurchase decision makers were male and 56% of the purchase decision makers were female. So Iunderstood that female plays a good role for making the purchase decision. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 35
  • 36. FINDINGSThere are various factors that influence the purchase decision of a consumer. These factors canbe grouped as demographic, social, cultural factors etc. Consumers try to purchase and maintaina variety of products that satisfy their current and future needs.Basically there are two factors consumers consider while purchasing or choosing a refrigerator.Those are –Capacity: they choose their refrigerator based on o Family size and food habit. o Family of 2 could do with a capacity of 160 to 200 liter o Add 20 liters for every additional member.Star Rating: They consider the star rating of the refrigerators because they know that higher thestar rating, lower the power consumption and so reduce the electricity bill.However except the two major factors there are so many other factors they consider whilemaking their purchase decision. Those factors are:External Factors:The External factors that influence the purchase decision of consumer in the age group of 30 to40 for a refrigerator are -1.) Family2.) Reference Group.3.) Social class.4.) Celebrity and Opinion leader.5.) Occupational Subculture.6.) Media Habits7.) Indian Culture8) Demographic Details.Various factors and their influence on the purchase of Refrigerator : PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 36
  • 37. 1.) Family: Spouse is the major influencer (Advice of other family members like mother and family friends also plays an important role). 2.) Reference Group: • Influenced by sites and brand ambassadors. • Neighbors also play a role of reference group 3.) Social Class: • All social class – value for money & many even consider it as style as it fit to home décor. 4.) Celebrity and opinion leader: • Purchase is influenced by Salesmen in showrooms. • Celebrities were an important opinion leader and play role as influencers. 5.) Occupational subculture: • Working Professional: Needs medium capacity range refrigerator. • Monthly income doesn‟t play significant role in deciding the capacity of refrigerator. 6.) Media Habits: • Use media to gather information (i.e. thru advertisements) • Prefer internet to compare features so more & more information should be available on internet. 7.) Indian culture: • Bright colors preferred but no one wants Black Color. • People prefer to buy on auspicious occasions and festival like Diwali & Eid.PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 37
  • 38. 8.) Demographic Details: • Prefer Style as it fit to home décor. • They set their maximum budget according to their affordability like, a bachelor sets his budget for a refrigerator purchase is Rs. 12,000 and in case of a homemaker or a family set their budget as Rs. 20,000 and above.INTERNAL FACTORS:There are various internal factors that also influence the consumer buying behaviour:  CAPACITY  STAR RATING  SIZE  FEATURES.However all consumers want value for money and after sales service are important for all.Vegetarians look for more space in vegetable box where as non-vegetarians look for spaciousdeep freezers.The internal factors that influence the purchase decision of these consumers for a Refrigerator:1. Need for the Refrigerator (whether need is physiological or esteem)2. Personality of the buyer: whether he is extrovert or introvert, open to experiment, etc.3. Level of Involvement of the buyer with the Refrigerator.4. Motivation towards the Refrigerator whether it is latent or manifest.5. Emotions towards the Refrigerator: which dimension will it satisfy amongst the pleasure,dominance and arousal?6. Brand personality as perceived by the buyer and how he relates it to his own personality.7. Attitude of the buyer towards the Refrigerator or the brand. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 38
  • 39. 8. Self-concept of the buyer: his thoughts and feelings towards the refrigerators/brands havingreference to himself as an object.9. Loyalty towards a particular brand of Refrigerator.10. Positioning of a particular brand in the mind of the buyer. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 39
  • 40. 4 P approach 1.) Product• Aesthetics (looks, color) are major considerations while purchasing Refrigerators so wide range of colorshould be available to fulfill the demand of maximum customers.• After Sales Service is the main attributes being looked while purchasing the product.• More features and maximum shelf space inside also looked while purchasing the refrigerator so moreshelves to be provided in door side of the refrigerator so that more bottles can be kept inside it. 2.) Price• All customers look for Value For Money. Mostly people are price conscious whilepurchasing the product.• Low price also acts as a social barrier as people consider low price refrigerator as a low qualityproduct.• Price is not the major constraint if they are provided additional feature needed by thecustomers. 3.) Place• Location of showrooms is not the most sought after criteria in the purchase decisionbecause refrigerator is a high-involvement product and customers are ready to travel forpurchasing refrigerators. But show room should be at such a place where othercompetitors are also available because people always want to make comparison.• Since India is very rich in its customs and traditions, a number of festivals are celebratedthroughout the year. People prefer to do major purchases during festival and special occasionsso marketer should take this as an opportunity and provide maximum range of the products. 4.) Promotion PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 40
  • 41. Focusing on the promotion element of the four Ps, good communication is the key to effective marketing.Potential customers go through a purchase cycle: pre-transactional (ie. before a purchase), transactional(ie. at the time of purchase) and post-transactional (ie. after the purchase has been made).Various promotional activities had been done for the new product the Neo i-chill. Some complementarygifts had been given to the customers to promote the new refrigerator. People were made aware about thenew refrigerator, complimentary gifts were given to grab their interest, and they had given their respondsabout the new refrigerator. AIDA MODELThe AIDA model encapsulates this sequence and can assist in the planning of anycommunications campaign:A – awareness/attention - Making the consumer aware of the product and getting theirattention. I had made people aware that the new refrigerator Neo i-chill had been launched in themarket. I – interest – Generating interest in the product/service on offer. I had made people know aboutthe new features and technology that are enabled with the new launched refrigerator.D – desire – Through awareness and interest, I had created the customer desire for the Neo i-chill.A – action – Stimulating the target to purchase the product/service. Many customers have beenimpressed with the product and service offered and they have made their decision. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 41
  • 42. CONSUMER DECISION MAKING PROCESS:Need recognition and problem awareness:Here customers find that his old refrigerator is not working properly. And not giving sufficientcooling.Information search:Customer does an external search about the product being offered by the brands which are in hisevoked set.Sources of information PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 42
  • 43. i) Personal sources: Customer finds the opinion from his personal contact first for example they take opinion from their friends, colleagues, family members etc. ii) Experiential sources: Customer visits the local showroom and have a look at the options in their evoked set before finalizing the purchase.Evaluating alternativesCustomers are aware of many brands of refrigerator through visiting the show rooms, and theytry to make comparison among the brands and among the models. Customer comparerefrigerators economically, capacity wise, storage wise, star rating etc. since they becomeconfused they do ask to the salesman and try to sort out the things.PURCHASE:After eliminating too many confusion about which brand and which model to purchase, customercome to solution to a particular brand and a particular model.POST PURCHASE:Customer always expects post purchase service, if a brand fails to serve that the customer willnot consider the next purchase preference to that brand, and if that brand shown the ability toserve that, customer will remain loyal to that brand. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 43
  • 44. BCG MATRIXThe Boston Consulting Group (BCG) Matrix is a simple tool to assess a company‟s position interms of its product range. It helps a company to think about its products and services and makedecisions about which it should keep, which it should let go and which it should invest in further.If we look at the Whirlpool Company and analyze it with the help of the BCG matrix then wecan understand the position. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 44
  • 45. Question MarksQuestion marks are products that grow rapidly and as a result consume large amounts of cash,but because they have low market shares they don‟t generate much cash. The result is a large netcash consumption. A question mark has the potential to gain market share and become a star, andeventually a cash cow when the market growth slows. If it doesn‟t become a market leader it willbecome a dog when market growth declines. Question marks need to be analyzed carefully todetermine if they are worth the investment required to grow market share.DogsDogs have a low market share and a low growth rate and neither generates nor consumes a largeamount of cash. However, dogs are cash traps because of the money tied up in a business that haslittle potential. Such businesses are candidates for divestiture.Cash CowsAs leaders in a mature market, cash cows exhibit a return on assets that is greater than the marketgrowth rate – so they generate more cash than they consume. These units should be „milked‟extracting the profits and investing as little as possible. They provide the cash required to turnquestion marks into market leaders.StarsStars generate large sums of cash because of their strong relative market share, but also consumelarge amounts of cash because of their high growth rate. So the cash being spent and brought inapproximately nets out. If a star can maintain its large market share it will become a cash cowwhen the market growth rate declines.If we analyze the current position of Neo i-chill we find that the market share of the newrefrigerator by Whirlpool India is growing day by day. So, we can place the Neo i-chill in theStar position. From this analysis we can understand that Neo i-chill needs more money to beinvested in it for future growth and having a good market share. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 45
  • 46. SWOT ANALYSIS OF NEO I-CHILL:SWOT analysis is a good tool to evaluate a product, from which we can understand what are thestrengths, weaknesses, opportunities and threats of that particular product in the present marketscenario.STRENGTH:  Neo i-chill is a latest series of Whirlpool refrigerator, having good technologies that are- 6th sense technology, cooling gel, auto cooling, freshonizer etc.  Neo i-chill is a product from the house of good brand Whirlpool.WEAKNESS:  Low advertisement.  Its colour is not preferred by the customers.OPERTUNITY:  Neo i-chill is having good opportunities that it can grab a large market.  Lifestyle trends towards latest product.THREATS:  Competition among the major competitor brands like LG, Samsung etc. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 46
  • 47. CONCLUSIONThrough this project I got to know many things that are related to the purchase of a refrigerator,excepting this I got to know the various home appliance products available in the Reliancedigital like washing machine, micro wave, and air conditioners etc. and I also got to know thecustomers and selling & marketing concept at Hyderabad city.Consumer acceptance on price of the product:In a country like India where every customers are price sensitive, it is not easy to give them pricesatisfaction specially when they buy a frost free 300ltr and above capacity refrigerators ,but theycan be impressed by better product with better technologies. The entry of NEO I-CHILL byWhirlpool India Ltd is enabled with better technology like flexi chill, 6th sense technology, towercooling etc. give them satisfaction about the product. However, the customers do comparisonwhile purchasing double door Frost Free refrigerators. There are some competitors of NEO I-CHILL in the market which I would like to mention, those are as follows:NEO I-CHILL: WPL-FF-NEOIC355TCGB4 (340L), PRICE: 27,999 (MRP: 30,500), COLOUR:Silver Swiss.Competitors:  LG-FF-GL338 VE4-VB (320L), price: 27,290 (MRP:28,900) with design, Customers are getting attracted by the flower design, door cooling and durachill technology.  PANASONIC- PANA-FF-NR-BU343SS2N (342L),price:27,490 (MRP:28,590) Customers getting attracted by bottom freezer technology and silver colour.  SAMSUNG 315L, Price:27,588 (MRP: 28,500)NEO I-CHILL: WPL-FF-NEOIC375ACGB4 (360L), PRICE: 32,990 (MRP: 36,600), COLOUR:GraphiteCompetitors:  LG-FF-GL- 368YEQ4-BW , (350L) Price: 33,790 (MRP:36,250),Design with White flowers, booket white ,door cooling, double cooling system(Attractive colour combination).  SAMSUNG S‟S-FF-RT41LSPN-PIN, 375 L, Price: 34,250 (MRP: 36,250), Platinum colour, cool pack technology. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 47
  • 48. NEO I-CHILL: WPL-FF-IC425TCGB4 (405L), PRICE: 35,999 (MRP: 40,000), COLOUR: SilverSwiss.Competitors:  LG 390L, Price: 36,790 (MRP: 38,750) steel colour, tall  PANASONIC, PANA-FF-B414SS1N-SLV, (414L), Price: 34,988 (MRP: 35,190) bottom freezer technology, silver colour.Customers get their attraction by colours and better technologies, if they find that they are gettinggood colour with better technology they will prefer that brand. Now considering Neo I-chill, ithas better technologies but if the customers find better colour on other brands they easily shift tothe other brands like LG, SAMSUNG.Feedback of Neo i-chill:Customers select a refrigerator on the basis of certain parameters like- 1) Capacity. 2) Space. 3) Colour. 4) Advancement of technology.While dealing with customers I find, customers like the storage capacity of NEO I-chill, theadvance technology of NEO, which satisfy the customer most but when it is the question ofcolour, especially female customers are colour choosy so they are attracted by the colour designof other brands. However, customers really like the graphite colour of NEO. I surveyed thecustomer with certain question-answer, where they have clearly mentioned the advancedtechnology of NEO (like- 50% faster ice making, flexi cool etc.) has attracted them most.While purchasing of a refrigerator, every customer want a latest product with better technology enabledand good interior and exterior part. But if a family (husband and wife) comes for the purpose of PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 48
  • 49. purchasing of a refrigerator, women always select the model and make purchase decision and women arecolour choosy so, they always go for the exterior look of the refrigerator. The flower design of otherbrands present in the outlet attracts them and they choose the refrigerator. However, they admit that thetechnology and storage capacity present in NEO is good and if they select the refrigerator, technology-wise they easily go for NEO. And it has been seen that especially the financial scheme of NEO hassatisfied the customers. PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 49
  • 50. RECOMMENDATION  As a new refrigerator Neo i-chill is excellent but the colours should be more attractive.  It should maintain proper stock.  Neo i-chill is having good features in it and it is now in introduction phase of its product life cycle, so new, different and attractive range with lower capacity of refrigerator should be launched and therefore to show its superiority over the other competitor brands.  Indian consumers are price sensitive so they want the same features enabled in Neo i- chill with lower price. So, price should be set taking care of those consumers.  Products and its features are excellent but there should be some more promotional activities like TV ads, to promote the new products in market.  Advertisements should be focused on homemakers because they are the primary influencers; mostly joint decision is taken whereas the financer is husbands.  Extended after Sales Service can be used as pull strategy of promotion to attract the customers as all customers consider it as main attribute while purchasing the product.  Internet is other sources of gathering information about refrigerators and hence the product should be heavily promoted there.PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 50
  • 51. BIBLIOGRAPHYWebsites:  www.google.com  http://www.whirlpoolindia.com/Books:  Marketing Management by Philip Kotlar.PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 51
  • 52. APPENDIXQUESTIONNAIRE FORMAT:Name: ____________________________________________________Telephone/Mobile Number: ___________________________________Email ID: __________________________________________________When do you plan your next refrigerator purchase? _________________Will you consider Neo I chill while making your next purchase? Yes NoIf yes, why? ________________________________________________ PROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 52
  • 53. THANK YOUPROJECT REPORT ON CONSUMER BEHAVIOR TOWARDS WHIRLPOOL OF INDIA LTD. (REF. CATEGORY) Page 53