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51872470 samsung-electronics 51872470 samsung-electronics Document Transcript

  • FINAL REPORT ON COMPARATIVE MARKET ANALYSIS OF SAMSUNG ELECTRONICS VIS- A- VIS ITS COMPETITORSSAMSUNG INDIA ELECTRONICS PVT LTD. 1
  • REPORT ON COMPARATIVE MARKET ANALYSIS OF SAMSUNG ELECTRONICS VIS- A- VIS ITS COMPETITORSA report submitted in partial fulfillment of the requirements of MBA Program of Jaipuria Institute of Management 2
  • TABLE OF CONTENTS Acknowledgement…………………………………………………………………………4 1. Abstract ……………………………………………………….................. ………5 2. Introduction ………………………………………………………………………..6 a. Overview of the Consumer durable sector………………………………..7-8 b. Company profile……………………………………………………………..9-10 c. Laying the foundation to become a world class company……………11-12 d. Comparative analysis ……………………………………………… ……13-15 e. Consumer perception………………………………………………………..16 4. Objective of Research…………………………………………………………….17-18 a. Research Methodology…………………………………………………..........19 b. Sources of data collection………………………………………………………20 5. Analysis of Dealers Questionnaire on CTV…………………………………….21-27 6. Analysis of Dealers Questionnaire on AC………………………………………28-33 7. Findings from the Consumer Questionnaire……………………………………34-41 8. Analysis of sales Data of Samsung……………………………………………..42-46 9. Findings of the Report………………………………………………….............47-48 10. References ………………………………………………………………………50 11. Proposed Questionnaire………………………………………………………..51-62 12. Conclusion………………………………………………………………………….63 3 View slide
  • 4 View slide
  • ABSTRACT “All human actions have one of these seven causes: chance, nature,compulsion, habit, reason, passion and desire”. As a human being the majorcause to take over this project was reason. The reason is to accomplish my task,aim, and motive of enhancing my knowledge and to know more about the consumerdurable industry. Consumer durables have become inseparable in this era ofmodernization and thus influence even the common men’s life. This is one of thefastest growing industry with an growth of about 8% every year. Invention and thelaunch of new technology is the most important tool of this industry. To maintain thequality of products provided to the customers the companies dealing in the consumerdurable products has to undergo extensive study and research work. This projectwork is a small attempt to understand the dealer, retailer as well as the consumerbehavior in regards to the colour television & Air conditioners and to find out theposition of Samsung among its competitors.This SIP project is being conducted on Consumer durables i.e. CTV & Air conditionerfor (Samsung India Electronics private limited), I am focusing on ComparativeMarket and consumer behavior study of consumer durables of Samsung vis-à-vis its competitors i.e. Sony, LG, Videocon, Haier, Bluestar. In CTV & A.Csegment. For this the Survey was conducted with a set of questionnaire containingthe questions which helped in obtaining the desired information from the dealers &retailers. In the next segment of study the consumers has be targeted with a set ofquestionnaire for the desired information. Till date around 100 dealers And Retailerswere approached in the Chandigarh and its neighboring districts i.e. SAS nagarmohali, zirakpur in Patiala and Panchkulla in hariyana state. The information wasobtained through questionnaire as well as by the interview method. The copy ofquestionnaire is being attached with this report. The method of personnel interviewwas also adopted for those who were unwilling to give any information in writing. Atpresent around 50 of such interviews have been conducted keeping in mind therequirements of the survey being conducted. 5
  • This report also includes the analysis of around 10 year’s sales data. This data with the help of Le square method is used to predict the future demand as well as the sales Of Samsung. 6
  • INTRODUCTIONA comparative marketing study of Samsung Electronics vis-à-vis competitor’s (L.G,Haier, Videocon, Bluestar, Sony ) in the area of Chandigarh andSurroundings……………“All progress is born of inquiry. Doubt is often better than overconfidence, for it leadsto inquiry and inquiry leads to investigation” Research inculcates scientific andinductive thinking and it promotes the development of logical habits of thinking andorganization.Research is a common parlance refers to a search of knowledge. The advancedlearner’s Dictionary of current English lays down the meaning of research as acareful investigation or inquiry especially through search for new facts in any branchof KnowledgeWhat is comparative Marketing study? In comparative marketing research we takeour competitor’s products and make comparison through consumer with our ownproducts.Why Comparative Marketing study? Comparative marketing study/research compriseone of the most important and fascinating task of marketing. It provides informationfor marketing decision making, any problem that are identified and investigatedfurther by using problem solving techniques with the objective of arriving at solution.The most important innovation in the new approach is to study simultaneouslydifferent organizational forms of business interest representation. The aim of thestudy is to point out the best (in this respect) among the alternatives that arebeing studied. The final aim perhaps is not only to find the best, but also toimprove it or similar objects later on. 7
  • Overview of the Consumer Durable MarketThe consumer durable market in India has seen a proliferation of brands and productcategories in recent years.Most major international brands from Japan, Korea, US, Europe and China havebeen launched in India withvarying degrees of success. One of the largest barriers to entry for any brand in Indiais the distribution network.The cost of servicing the network is huge for any brand. The consumer is aware ofthe cost-benefit, or value forMoney aspect. Financing options are crucial in case of high-priced products. Theyincrease the affordability for aWider segment of population. Like in any country, the consumer durable industry inIndia is largely dominated by colour televisions (CTV), which account for 56% of theconsumer durables industry.Consumer Durable Market Pie In Financial year 8
  • Growth of Consumer Durable Market 9
  • Company ProfileFounded in 1938, Samsung Corporation is one of Korea’s most enduring andrespected corporations, having stood behind the advancement of the nationaleconomy for more than three quarters of a century. At the origin of Samsung Group,Samsung Corporation was the trading arm of the group, epitomizing its vibrancy anddynamism in the area of global trade. Its designation in 1975 as Korea’s first-everGeneral Trading Company marked a new chapter for its overseas operation, whichsince then grew into a scope truly worthy of a global trader. Samsung Corporation’sentrepreneurship and achievement on the world scene have been a major inspirationfor Korea’s trading community.In a continuing bid to expand its business area beyond the confines of internationaltrade, in 1996, Samsung Corporation merged with Samsung Construction, and in1997, launched into the retail business. Currently, Samsung Corporation is engagedin two major business areas: trading, construction. The organization consists of twobusiness groups, with the retail business headquarter under the trading group, andwith the housing development headquarter under the construction group.The Trading Group, currently operating from its 71 overseas offices, exportssemiconductors, machinery, plants, iron & steel, chemical products and textile; andimports energy, chemical products and machinery & equipment. In addition to trading,the Group carries out a variety of other projects including overseas investment,project organizing services and energy & natural resource development projects. 10
  • The Construction Group, a provider of construction and engineering services, isalso a plant builder and housing developer. To date, the group has to its creditMalaysia’s Petronas building, the world’s highest edifice, 452m high, boasting 92stories aboveground; New Busan Port; Incheon Int’l Airport; Ulchin Nuclear PowerPlant; and Raemian and Trapalace, the apartment complexes. From energyresources to housing, each of these projects is a powerful testimony to the group’stechnological excellence. Last year, the group entered into a contract to build theworld’s highest building, Burj Dubai.Notably, Raemian, one of Samsung’s signature apartment complexes is a remarkabletriumph, hailed as new standard-setting luxury housing. The success of Raemian,topping the National Customer Satisfaction Index (NCSI) in the apartment categoryfor eight consecutive years, has driven up our overall market share in housingdevelopment to the top of the scale as well.The Retail Business is buoyant and thriving with Samsung Plaza Bundang , a multi-feature shopping center, and Samsung Internet Shopping Mall, familiarly referred toas “Samsung Mall” as its two main platforms. 11
  • Laying the foundation to become a World ClassCompanyYear 2006Jan Developed the first-ever speech recognition phone Developed innovative 8-chip stacking MCP technology Posted more than $10 billion in net profit Became the world’s top three companies with the most patents, launched patent- based managementFeb Released digital slim TV with the narrowest body depth Released the first notebook PC with embedded terrestrial DMB receiver Samsung Blueblack phone, SGH-D500, was selected as "The Best Handset" at 3GSM global conference in cannes, France First commercialization of terrestrial DMB phone in Korea Developed DDR3 DRAM Developed the first wrinkle-free steam washerMar Developed the first HSDPA terminal for commercialization and ultra-highspeed HSDPA system Cash payment to more than 15,000 SMEs Developed 82" TFT-LCD Developed 7 megapixel camera phoneApr Became the official sponsor of Chelsea, the renowned English soccer clubMay Developed the world’s first OLED for 40" TV 12
  • Completed and announced standard dimension for 8 th and 9th generation LCD Panels Released the first HD class PDP TV with 10000:1 contrast ratio Began mass production of 70 nano processed 4 GB NAND flash memory June Accumulated production volume of large LCDs surpassed 100 millionunits Began upgrading digital audio business to the world’s top level Launched a new brand campaign with the theme of "Imagine" Released the first 5 megapixel, 3x optical zoom camera phone Began mass production of 90 nano processed 1 GB DDR2 DRAM July Released the worlds first 7 mega pixel camera phone Aug Released the worlds biggest DLP TV Sep Developed the worlds first 50nm 16Gb NAND Flash Released the worlds first Blue-Ray Home AV Center Oct Blue-black phoneⅡ(SGH-600) selected as the "Mobile Choices Phoneof the Year" Developed the worlds first 70nm DRAM Developed the worlds fastest speed graphic DRAM(GDDR4) Nov Developed the largest Flexible LCD Panel Dec Received "25 iF Design (Germany) awards" Handset shipments reached over 100 million 13
  • Comparative AnalysisA comparative Analysis of Samsung Electronics vis-à-vis competitor’s (LG, Haier,Videocon, Sony, Bluestar) in ChandigarhWhat is comparative Analysis? In comparative Analysis we take our competitor’sproducts and make comparison through consumer with our own products. WhyComparative Analysis? Comparative Analysis comprises one of the most importanttasks of marketing. It provides information for marketing decisions. Problems areidentified and investigated further by using problem solving techniques with theobjective of arriving at solution. The most important innovation in the new approach isto study simultaneously different organizational forms of business interestrepresentation. The aim of the study is to point out the best among the Variables thatare being studied.The study will also include the survey which will be targeting about 100 dealers in thearea of Chandigarh. The main emphasis in the survey will be given on the sales ofSamsung in comparison to its competitors in CTV & AC segment, the consumerperception about the brand will also be taken into consideration while conducting thissurvey.The analysis of the buying behavior in respect to AC& CTV will be another importantcomponent of my study. Buying behavior of the consumer is a study of howindividuals make decisions to spend their available resources (time, money & effort)on consumption related items (what they buy, why they buy, where they buy, howoften they buy and use a product or service). The heterogeneity among peopleacross the world makes understanding consumer buying behavior an intricate andchallenging task. The consumers’ identity, his beliefs, specific needs, attitudes andthe kind of product and brand available in that product category influence his buyingbehavior. The marketing efforts of a firm have a profound impact on the buying 14
  • decisions of customers. Therefore the attempt of my survey will be to obtain an in-depth knowledge of the customers buying behavior.The effect of external variables on purchasing pattern of customer will also beconsidered here the external variables refer to all those factors which will be affectingthe consumer purchasing decisions, these can be price of the goods and on itsattitude to respond to functional needs. The critical variable under this approach is theavailability of adequate information about purchase alternatives (price, productfunctionalities) to support the decisional process. • The external conditioning approach, according to which the purchase decision is a response to external stimuli. The critical variable under this approach is which kind of external stimuli can influence purchase decision. • The experience and the social interaction - based approach, according to which the present consumer decision aims at the construction of personal identity.Another component of my study will be the analysis of the brand (Samsung) on fourP’s i.e.• Product• Pricing• Promotion• Placement.These are the four factors which help an organization to understand the market andhelp in taking future decisions relating to the launch & the strengthening of the marketfor the brand.Benefit to company: 1. Display Share Tracking: Display share tracking will help us to find out these information It will be used to revealed potential demand of each product. 15
  • With the help of display tracking we will find out the highest selling product and lowest selling product in the market. It will help in taking decision during the line expansion and line pruning.2. Consumer perception: This is done with the aim of capturing the true words and emotions of consumer, and in turn using this information to improve or developed products or to determine people attitude toward the products. It will help company to get feedback from consumer. It will prevent the undervaluation of competitor and we can find the strength and Weakness of our product. This will help us to stay ahead in competition It will encourage value creating investment. It will help in maximizing the consistency of value creation Measuring performance It will help us for market share analysis.So I can say this study is more suitable for Samsung to compete and survive inlobal market. 16
  • Consumer perceptionAs it is well known proverb of marketing that “Consumer is the king” it is mandatoryfor any researcher to know the opinion of the consumer regarding the products onwhich he is going to conduct the study. This research work will include a consumerquestionnaire on the consumer goods which has been taken as the part of the studythe questionnaire mainly aims at . • Awareness of the consumer about the brand • His decisions whether dependent or independent • Purchase pattern • Brand loyalty level • Current consumer durables in home • What is the impression of consumer about SamsungThis questionnaire will mainly help out in reaching at the actual consumer perceptionof the consumers about the brand. This is done with the aim of capturing the truewords and emotions of consumer, and in turn using this information to improve ordeveloped products or to determine people attitude toward the products. 2.1 It will help company to get feedback from consumer. 2.2 It will prevent the undervaluation of competitor and we can find the strength and Weakness of our products 2.3 This will help us to stay ahead in competition. 2.4 It will encourage value creating investment. 17
  • 2.5 It will help in maximizing the consistency of value creation. 2.6. Measuring performance 2.7 It will help us for market share analysis. So I can interpret, this study is more suitable for Samsung to compete and survive in global market. OBJECTIVEThe major objective of the study is to analyze the position of Samsung Vis-à-Vis itscompetitors and to identify weak areas and provide recommendations for the sales.The consumer durable market has grown considerably in last few years in India. Withthe growth, the level of competition has grown as well. Literally every day companiescome up with new attractive offers to grab the better share of the market. Thechallenge is not only to get the new customer but also to continue with the existingcustomers.The objective of doing the project is to:-Identify the Dealer and Consumer perception about the Samsung products withrespect to its competitors in CTV & AC segment.- To suggest some differentiating strategies to stay ahead in competition in CTV& ACsegment.- To identify the factor affecting the four Ps i.e. • Product • Pricing • Promotion • Placement.Example:What are the parameters on which consumer makes his purchase decision? 18
  • Parameters RankO Price ……….O Packaging ……….O Product Features ………..O Brand Name ……….O Product Quality ……….O Product Design ……….SCOPE OF STUDY: 1. Impact of consumer durables (being taken in to the study) on the consumers, retailers, dealers. 2. Comparison of Samsung with other competitors.METHODS OF COLLECTING DATA AND THEIR SOURCES:Secondary Data:The secondary data for the project is collected from websites. The other data wascollected from the offer document and informal discussion with company members.References are also taken from search engines.Primary DataThe primary data is collected by interviewing the concerned persons.Dealers Questionnaire, Consumer Questionnaire is prepared to collect the dataand this data will be analyzed for studying the position of Samsung in comparison tothat of its competitors i.e. Sony .L.G. Haier, Videocon, Bluestar, 19
  • Research Methodology“Research is the systematic design, collection, analysis and reporting of data andfindings relevant to a specific situation or problem”. The objective of this section is todescribe the research procedure and methods that have been adopted for theachievement of the project objectives.a. Research Design: Exploratory research studyA research design is the arrangement of conditions for collection and analysis of datain a manner that aims to combine relevance to the research purpose with economy inprocedure. My research is comparative in nature.b. Method of Data collection: In order to study the consumer perception regardingthe uses of Samsung Products with respect to other companies in Chandigarh bothprimary and secondary data will be collected.  The study proposed to collect Primary data through questionnaire using survey method. So as to give a precise, accurate, realistic and relevant data.  The secondary data as it has always been important for the completion of any report provides a reliable, suitable, equate and specific knowledge. The data will collect from various magazines, fact sheets newspapers and websites published by the company.c. Sampling Technique: The study proposed to use convenience sampling. 20
  • d. Sample Area: In order to make a comparative analysis study the consumerperception as well as dealer & retailers perception of Samsung products with respectto its competitor, the data for the study has been collected through a survey ofDealers/Retailers of Chandigarh and surroundings. Sources of DataThe nature of the data that has been used in the project under study is both primaryand secondary in nature.Primary dataQuestionnaire, personal meetings, interview method with the concerned persons willbe used to collect the primary data.Secondary dataOffer documents, fact sheets, news papers, magazines published from time to timeand Internet, Company sources. 21
  • ANALYSIS OF THE DEALERS QUESTIONNAIRE FOR (CTV)For this purpose I conducted a survey with the sample size of 100. This sampleincludes the dealers and the retailers in the area of Chandigarh andsurroundings. The questionnaire having 16 questions was prepared to obtainthe desired information and the method of personnel interview was alsoadopted for those dealers who were not interested in filling the questionnaireand the data got is then analyzed and following are the results for the same. The starting of my questionnaire with the question 1.Which of the following brands of CTV, you are dealing in? This question mainly gives the idea that how many dealers and the retailers are dealing in single and multiple brands Fig 1.0 shows that out of 100 dealers and retailers who were part of survey in Chandigarh and surroundings where 38 were dealing in the single brand only and the others were dealing in multiple brands. 22
  • Dealers Ratio Single brand 38% singleBrand multiple Brand Multiple brand 62% Fig 1.0 3. How many models do you display for each brand? Mainly the 15, 21, 29, LCD & PLASMA were considered for the brands Samsung, Sony, LG, Haier, Videocon and the major dealers and the retailers were interested in keeping the brand most sold. The fig 1.2 shows that out of the total survey the proportion. Average Proportion of Display at each Store 5% 7% 14% 15 Inch 20% 21Inch 29 Inch 54% LCD PLASMA Fig 1.1 This question also bought up an idea that lower end markets have more proportion of 15, 21 inch display as compared to that of high end market.3. Which are the two highest selling models of each company in CTV & their prices?The models that were sold more in comparison to others for the same brand in theCTV segment are as follows. The highest selling Models 23
  • Samsung 21inch Plano- z30 , Z43LG 21inch Flatron -21FD 2RG- TX, 21FC8RG-AXHaier 21inch Platron- 21F2A, 21F9DVideocon 21inch Challenger-Sony 21inch KVHM213 M80, KVFA 21M 83 4. To what extents, following brands of CTV are preferred by customers? This question was mainly asked to have an overview of how the customer responds to a particular brand and the results are shown in the fig 1.2 Customer brand prefrence in 21 inch 40% 35% 30% 25% 20% 15% 10% 5% 0% Samsung Sony LG Videocon Haier Fig 1.2 Average demand for the brand has been also estimated with the findings of the same question. 24
  • Customer Prefrence for Brand 8% Samsung 12% 26% Sony 22% LG 32% Videocon Haier Fig 1.3 5. What is the price band for which the customer looks for while making purchase decision? With this question the major objective of my survey was accomplished it reveals what the consumer need in the particular segment as shown in the table below.Segment Brand Price range15 inch Videocon 500021inch Samsung/LG 900029inch Sony/Samsung 15000LCD Samsung 40000PLASMA Samsung/LG 55000 7. What is the expected percentage of customers who are willing to pay? With the survey and then the analysis of the data concludes that in the high end markets like of Sector 22, 24, 34, 17, the ratio of premium an low end customers was 60: 40 as shown in Fig1.4 25
  • Proportion of customerss in high end markets low-end Customer 40% Premium Customer 60% Fig 1.4While in the lower end markets like Naya gaon, Daddu majara, Baltana, Badial &Manimajara the proportion of Premium and low end customer is of the ratio 20:80.As shown in the fig 1.5. Proportion of customers in Low-end markets Premium Customers 20% Low-end Customers 80% Fig 1.5Q9 what is the annual estimated sales of CTV? After taking out the average ofthe low-end and premium markets the results obtained are that the averageannual sales of the premium end market that comprises of 43 dealers andretailers was as under 26
  • Brand Name Annual average estimated sales Samsung 6192 pieces p.a Sony 5676pieces p.a L.G 6708pieces p.a Videocon 2580pieces p.a Haier 1032pices p.aQ10. At which visit, customer generally finalize his/her decision for buying a CTV? This mainly gives an overview of how customers make their purchase decision when they enter in to show room. The results of this analysis are shown in the fig 1.6 Customer Decision Index 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1 2 3 Any other Visit to Show room Fig 1.6Q12. When customers mostly visit showroom for buying CTV? Question 11& 12 mainly help in predicting that which offer attracts the customer the most and the results obtained after the analysis work are shown in the fig 1.8 27
  • Customer Visit Index 70% 60% 50% 40% 30% 20% 10% 0% Discount offer exchange offer new features Any other Fig 1.8Q13. What is the most acceptable size in CTV now days? The question mainly emphasized on bringing out the most acceptable size of CTV in each segment and thus the results obtained are shown as under.Segment SizeCTV 21LCD 31PLASMA 42Q14. Below are different modes of promotion. Please rank following modes from 1 to 7, on the basis of their influence on customer. (Rank1=high, Rank 7 = low) The major modes of promotion that influenced the customers was audio visual mode that comprises of 59% print media occupying 24% and other modes influenced them 17% this is shown in fig 1.9 28
  • Influencial modes of promotion Other Media 17% Audio visual 59% Print media 24% Fig 1.9 The other two questionnaires were generally ignored by the retailers as they tried to be loyal to the brands in which they were dealing.ANALYSIS OF THE DEALERS QUESTIONNAIRE FOR (AC)For this purpose I conducted a survey with the sample size of 100. This sampleincludes the dealers and the retailers in the area of Chandigarh and 29
  • surroundings. The questionnaire having 16 questions was prepared to obtainthe desired information and the method of personnel interview was alsoadopted for those dealers who were not interested in filling the questionnaireand the data got is then analyzed and following are the results for the same.The questionnaire with the question 1.Which of the following brands of AC, youare dealing in? This question brought the fact that how many dealers and retailersare dealing single and multiple brands of air conditioners this shown in the fig: 1.10 Dealer Ratio Multiple brand 32% single Brand multiple brand Single brand 68% Fig 1.10Q2 How many models do you display for each brand?In this question mainly the 1.0 ton, 1.5 ton and 2 ton capacity of both window split airconditioner category were considered and the models displayed at each counter onan average are as under: Brand NameCapacity Samsun LG Bluesta Videoco Haier g w/s r n w/s w/s w/s w/s1 Ton 2/1 2/1 2/1 1/1 1/01.5 Ton 3/2 3/1 2/2 1/1 1/12.0 Ton 1/1 1/1 1/0 1/0 .5/0 30
  • Q3 which are the two highest selling models of each company in AC & their prices? Each brand has its unique image for its product thus the highest selling models for each brand also vary according to the quality features as well as demand for the products the highest selling model for the each brand are as follows Brand Model Samsung 18QB LG W18G2 Videocon SB1608 Bluestar WAM181YB Haier HW12DX Q4.To what extents, following brands of AC are preferred by customers? The major brands preferred by the customers according to the options given are as follows Brand Prefrence by customers 35% 30% 25% 20% 15% 10% 5% 0% Samsung LG Videocon Bluestar Haier Fig 2.1 Q5. What is the price band for which the customer looks for while making purchase decision? This question mainly brought out the conclusion of which price brand generally the customer looks for when he makes his purchase decision this is explained as under.Segment Price Band1.0 Ton 110001.5 Ton 160002.0 Ton 20000 31
  • Q7 what is the expected percentage of customers who are willing to pay.Premium, or has the Low-end customers the analysis of the data reveals that theproportion of premium customers is around 78% as compared to that of low-endcustomers that comprise of only 22% . Proportion of Premium & Low-end Customers in Market Low-end customers 22% Premium Customers 78% Fig 2.2 Q8 what is the annual estimated sales of AC? After taking out the average of the low-end and premium markets the results obtained are that the average annual sales of the premium end market that comprises of 50 dealers and retailers was as under this analysis work constitute the limited sample size and thus may no predict the correct figures. the word season means the month of March, April, May, June.Brand Name Annual average estimated salesSamsung 24000 pieces per seasonLG 27000pieces per seasonBluestar 25200pieces per season.Videocon 15000pieces per season.Haier 7800pieces per season. Q9. Please rank each of the following features from 1 to 5 on the basis oftheir importance to customers 32
  • This question after being analyzed brought out the conclusion that out of the totalsample size people who gave their 1st preference to brand name were around 42%and who went for Features were 22% and people who gave their 1st Preference toprice were 28% dealers communication & Design constituted respectively for 2% &6%. This can easily be understood by the fig 2.3. Customer Prefrence Index 6% 2% Brand Name Features 42% 28% Price Dealers Communication Design 22% Fig 2.3Q10. At which visit, customer generally finalize his/her decision for buyingAC?This mainly gives an overview of how customers make their purchase decision whenthey enter in to show room. The results of this analysis are shown in the fig 2.4 33
  • Consumer Decision Index 100% 90% 80% 70% 60% 50% Series1 40% 30% 20% 10% 0% 1 2 Any other Visit to Showroom Fig 2.4Q12. When customers mostly visit showroom for buying AC? Question 11& 12 mainly help in predicting that which Promotional Techniques attracts customer the most and the results obtained after the analysis work are shown in the fig 2.5 Customer Visit Index 60% 50% 40% 30% 20% 10% 0% Discount offer exchange offer Guift options Any other Fig 2.5Q14. Below are different modes of promotion. Please rank following modes from 1 to 7, on the basis of their influence on customer.The major modes of promotion that influence the customer were audiovisual 64%, Print media 28%, Tradeshows 8%. 34
  • 70% Promotional Technique Index 60% 50% 40% Series1 30% 20% 10% 0% Audiovisual Print Media Tradeshows Fig 2.6Q16. Which Brand you Recommend and why?As this was the last question the importance of this question was much more aspeople tried to ignore it but the information obtained from the analysis of this questionare shown in the fig 2.7 Dealers Recommendation for the Brand 40% 35% 30% 25% 20% 15% 10% 5% 0% Samsung LG Bluestar Videocon Haier Fig 2.7 35
  • FINDINGS FROM THE CONSUMER QUESTIONNAIREFor this purpose I conducted a survey with the sample size of 100. This sampleincludes Businessman, Government employees, Private Employees andHousewives. This includes a questionnaire having 10 questions and the datagot is then analyzed and following are the results for the same. 1) The first question is ‘which of the following Brands deal in consumer durables? ’ And as shown in the fig 1.1, the response was 100% positive consumer durables 100% 1 Fig 1.12) Second question is ‘How do you make your purchase decisions?’Fig 1.2 interprets the result that 84% of the consumer makes their purchasedecisions with the help of one or the other aided media. But at the same timearound 16% go for unaided purchase decisions. 36
  • Purchase decision 16% aided 84% unaided aided Fig 1.23) ‘Which purchase pattern is followed at your place?This question tells about how many people really take the help of there nearand dear ones while making the purchase decision and also helps themarketers to target the appropriate segment. The result shows that 78% of theconsumers take the help of their family and around 22% of the consumers gofor the individual decision while making the purchase decision. As shown in fig1.3 Purchase pattern of consumers 22% Individual 78% family Fig 1.34) On which of the following parameters you make your purchase decision? (Rank them according to your preference) a) Price  b) product  c) Quality 37
  • d) Brand name  e) Packaging  f) FeaturesIt tells about how many people out of the 100 consumers give more preferenceto the above mentioned options. The result shows that 46% of the consumersgive their 1st preference to price, 6% to product,22% to quality,24% to brandname, 0% to packaging,2% to Features the graphical representation in fig 1.4,1.5, 1.6, 1.7, 1.8, 1.9. Explains it more clearly. Parameters for purchase decision feature Rating Price Product Quality Brand name Packaging s 1 46 6 22 24 0 2 2 22 10 14 44 1 9 3 18 16 38 10 2 16 4 10 8 20 14 1 47 5 0 58 4 6 6 26 6 4 2 2 2 90 0 Price 50 40 Price 30 20 10 0 1 2 3 4 5 6 7 Rating Fig 1.4 38
  • Product 80 60 Product 40 20 0 1 2 3 4 5 6 7 Rating Fig 1.5 100 Packaging 80 60 Packaging 40 20 0 1 2 3 4 5 6 Rating Fig 1.6 Quality 40 35 30 Quality 25 20 15 10 5 0 1 2 3 4 5 6 RatingFig 1.7 39
  • Brand nam e 50 Brand name 40 30 20 10 0 1 2 3 4 5 6 7 Rating Fig 1.8 features 50 f eatures 40 30 20 10 0 1 2 3 4 5 6 Rating Fig 1.95) Which Brands of consumer durables you have been using before?6) Which consumer durables you posses at your home presently?’ 40
  • 7) Do you feel like shifting to some other brand or you are fully satisfied withthe present one?These three questions mainly bring out the picture how the consumers followthe trends in the industry these questions mainly emphasize on the consumerloyalty level. Out of around 100 consumers 42% continued with the samebrand, 36% shifted to some other brand and around 22% were planning to shiftto some other brand. fig shows the same in more appropriate manner. Theoverall analysis shows that only 42 % of the consumers are brand loyal while58% of the consumers have the tendency of shifting to some other brand. Consumer loyalty level Trend in consumer durable industry 45 40 35 30 25 20 15 10 5 0 continuing with Shifted to some Planning to shift same brand other brand Fig 1.10 8). Please rate the following brands of CTV on the scale of 1 to 5?This question is for those consumers who are well aware of the existing brandsand have sufficient knowledge regarding each brand the consumers wereasked to rate the given brands on the scale of 1to 5 on the basis of theiropinion for Quality, features, Design, Screen resolution and efficiency. Theresults obtained for the quality rating for CTV for Sony, Samsung, LG, Haier,and Videocon. Are shown in the fig 2.0 where 32% of the consumers have 41
  • rated 5 Sony on the contrary Samsung emerged as the leader in this segmentwith 48% of the consumers rating it on the scale of 5.. Consumer Rating Chart for CTV 60 Quality Rating 50 40 30 20 10 0 Sony Samsung Haier Videocon LG Fig 2.0Q9. Please rate the following brand of AC on the scale of 1 to 5?Where 1 mean poor service and 5 mean excellent service this question also tested the knowledge of consumers who are well aware ofthe existing brands of AC and have sufficient knowledge regarding each brandthe consumers were asked to rate the given brands on the scale of 1to 5 onthe basis of their opinion for Quality, features, Design, Cooling effect andefficiency. The results obtained for the quality rating for AC Segment forBluestar, Samsung, LG, Haier, and Videocon. Are shown in the fig 2.1 where42% of the consumers have rated 5 LG on the contrary Samsung emerged asthe leader in this segment with 46% of the consumers rating it maximum on thescale of 5. Followed by the other brands. 42
  • Consumer Rating Chart for AC 50 Quality rating 45 40 35 30 25 20 15 10 5 0 Samsung LG Vediocon Haier Bluestar Fig 2.110) How far you are aware about Samsung Products& what is its impression in Your mind? • As shown in fig 2.2, in Chandigarh and Surroundings Samsung enjoys an awareness of over 95% and a positive opinion of around 80% in the area Consumer Awareness and Openion chart Awareness among people 95% Positive openion among people 80% today. Fig 2.2 43
  • ANALYSIS OF SALES DATAThe sales date collected from the sources has been used to predict the futureSamsung India private limited by using the Least Squares MethodExplanation of the MethodThis method is widely used in Practice. It is a mathematical method and with its helptrend line is fitted to the Data in such a manner that the following two conditions aresatisfied (1) ∑(Y-Yc)=0 I.e. the sum of actual deviations of the actual values of Y and the computed values Y is Zero (2) ∑ (Y-Yc)2 is least I.e. the sum of the squares of the deviations of the actual and computed values is least from this line and hence the name method of least squares. The line obtained by this method is known “as the line of best fit “ The method of least squares may be used either to fit a straight line trend or a parabolic trend. The straight line trend is represented by the equation Yc= a+bX Where: 44
  • Y0 = is used to designate the trend Values to distinguish them from the actual Values of Y. a is the y intercept or the computed trend figure of the Y variable when X = 0 b represents the slope of the trend line or amount of change in Y variable that is associated with a change of one unit in X variable. The X variable in the time series analysis represents time. Least Squares trend Method Fitting of straight line trend by the method of least squaresYear Sales Deviation From2001 XY X2 (Y) (X) 0.5 1997 13094724 -4.5 -58926258 20.25 1998 16639749 -3.5 -58239122 12.25 1999 22810293 -2.5 -57025733 6.25 2000 27230939 -1.5 -40846409 2.25 2001 24419589 -0.5 -12209795 0.25 2002 30518256 0.5 15259128 0.25 2003 42321852 1.5 63482778 2.25 2004 50911164 2.5 127277910 6.25 2005 61848945 3.5 216471308 12.25 2006 63479833 4.5 285659249 20.25 ∑y= 353275344 ∑X = 0 ∑XY= 480903057 ∑X2 = 82.5 The equation of the straight line trend is a =∑Y/ N = 35 3275344/10 = 35327534.4 b= ∑XY/ ∑X2 = 480903057/82.5 45
  • =5829127.96Y= 35327534.4 + 5829127.96 XFor 2007 X will be 5.5: 35327534.4 + 5829127.96 (5.5)= 35327534.4 + 32060203.79= 67387738.19 $Thus the estimated earnings for the year 2007 are $67387738.19 46
  • CORRELATION ANALYSIS Analysis of the Brands Popularity on the basis of their RanksCorrelation analysis is a statistical technique used to measure the magnitude of linearrelationship between two variables Correlation analysis cannot be used in isolation todescribe the relationship between the variables. It can be used along with regressionanalysis to determine the nature of the relationship between two variables.The two frequently used correlation coefficients are:  The Pearson product moment correlation coefficient  Charles Spearman’s rank correlation Analysis by the Charles Spearman’s rank correlation Method Brand Sales in After sales Name Pieces Quality Design Features Services Price Samsung 2nd 6192 2 3 4 5 1 rd LG 3 5676 1 4 3 5 2 Sony 1st 6708 2 3 5 4 1 Videocon 4th 2580 1 4 4 5 2 Haier 5th 1032 1 3 3 4 2 Explanation: 47
  • It is the technique of determining the degree of correlation between two variables incase of ordinal data where ranks are given to the different values of the Variables. The main objective of this coefficient is to determine the extent to which the two set of ranking are similar or dissimilar. This coefficient is determined as under. The Charles Spearman’s rank correlation Formula: rs =1-[ 6∑di 2] Eque 4.2 n(n2-1)Solution:Quality measureBrand Name Ranks Quality 1-d d2Samsung 2 2 0 0 2LG 3 1 2 4Sony 1 2 -1 1Videocon 4 1 3 9Haier 5 1 4 16n=5 ∑d2 30 Substituting the values in Equ. 4.2= 1- 6x30 2 5(25-4)= - 0.5AnswerThis indicates that there is a Negative correlation between Quality and Sales rankingi.e. when the quality of the product improves the Sales ranking volume for the brandsFall down. 48
  • Design measuresBrand Name Ranks Design d d2Samsung 2 3 -1 1LG 1- 3 4 -1 1Sony 1 3 -2 4Videocon 4 4 0 0Haier 5 3 2 4n=5 ∑d2 10 Substituting the values in the Equ 4.2= 6x10 5x24= -0.50 AnswerThis indicates that there is a Positive correlation between Design and Sales rankingi.e. when the design of the product improves the Sales ranking for the brands alsoincreases.Price measuresBrand Name Ranks Price d d2Samsung 2 1 1 1LG 3 2 1 1Sony 1 1 0 0Videocon 4 2 2 4Haier 5 2 3 9n=5 ∑d2 =15 49
  • Substituting the values in the Eque 4.2= 1- 6x15 5x24 2= 0.25 AnswerThis indicates that there is a Positive correlation between Price and Sales ranking i.e.when the Price raises the Sales ranking for the brands also rises for the productFeatures measureBrand Name Ranks Features d d2Samsung 2 4 -2 4LG 3 3 0 0Sony 1 5 -4 16Videocon 4 4 0 0Haier 5 3 2 4n=5 ∑d2 =24 Substituting the values in the Equ 4.2= 1- 6x24 5x24 2= -0.20 AnswerThis indicates that there is a negative correlation between Features and Salesranking i.e. when the Features of the product improve the Sales ranking for thebrands fall down.After Sales Service measure 50
  • After salesBrand Name Ranks service d d2Samsung 2 5 -3 9LG 3 5 -2 4Sony 1 4 -3 9Videocon 4 5 -1 1Haier 5 4 1 1n=5 ∑d2 =24 Substituting the values in the Equ 4.2= 1- 6x24 5x24 2= -0.20 AnswerThis indicates that there is a negative correlation between after sales services andSales ranking i.e. when the Features of the product improve the rank for the brandsfall down.Thus it can be concluded from the above observation that only the price andthe Design affect the ranks of the given brands in the positive manner and restthree variables have the negative effect on the ranks of the brands which hasbeen considered on their sales basis. FINDINGS 51
  • Primary data collected through questionnaire, Personnel Interviews regarding theSamsung and its competitors i.e. Sony, L.G, Videocon, Haier, bluestar And theAnalysis of the data using Research Methodology Reflects the following.1. Consumer Durables play a major role in the life of each individual.2. The dealers are the inseparable pillar between the company and the ultimate consumer.3. Retailers can sell any thing to the consumers if rewarded with appropriate incentives.4. Dealers are happy keeping the single brand.5. Retailer like keeping variety brand so as no let the consumer leave the counter until he affect sales.6. The retailers of remote areas of Chandigarh i.e.Naya gaon, Daddomajara, baltana, Badial & Manimajara have different perception about Different segments ofCTV&A.C.7. Retailers like to stock the most sellable models of the company rather than the display models being promoted by the company.8. The dealers in Sector 22, 24, 34, 17. Like targeting high profile people.9. The markets of Naya gaon, Daddomajara, baltana, Badial & Manimajara are the low end markets.10. The percentage of premium end customers in Sector 22, 24, 34, 17, 18 is around 90% as compared to of 30% in Naya gaon, Daddomajara, baltana, Badial & Manimajara. 52
  • 11. Low end markets of Chandigarh have very less market for 1.5 & 2 ton Air conditioners.12. The retailers in Manimajara are in a better position to tackle consumers as compare to that of other remote areas.13. Dealer disclosed the fact that approx 85 percent customer come with Prior knowledge of product price, features, discount offer, exchange offer only 15 percent are unknown customer.14. In CTV segment 38 percent dealer recommend the Samsung brand, 32 percent dealer recommend LG, 18 percent recommend Videocon and 12 percent recommend the Haier.15. AC segment: In AC segment LG got the highest recommendation 32 percent, Samsung got 31 percent, Haier got 17 percent and Videocon got the 20 percent recommendation.16. The analysis of the sales data reflects that the sale of Samsung is increasing year after year in comparison to its competitors.17. The ranking of the brands have the positive relation with design, price and others have the negative correlation. 53
  • LIMITATIONS OF THE STUDY  The Data collected from the Dealer might not be very accurate to obtain the desired information.  The sample size taken is small to make a universal statement.  The final conclusion can be also affected by some of the extraneous variables.  Though the study represents the position of Samsung in Chandigarh. Due to small sample size, the finding may not be a true representative and it cannot be generalized.  Biasness of the respondent.  Lack of sufficient information  Lack of the instruments to find out the reasonable outcomeDifficulty in gathering the reasonable data  It’s all about the future predictions and future is unsuitable 54
  • REFERENCES• Marketing Management: by Philip Kotler• C.R Kothari “Research Methodology” Methods And Techniques.• Hair/ Bush/ Ortinau (2006). “Marketing Research”• Naresh K. Malhotra (2006), “Marketing Research- An Applied Oriented”• ICFAI Journal of Marketing Management, The ICFAI University Press, Vol.V, No.1, February 2007• ICFAI Journal of Marketing Research, the ICFAI University Press, No. 2, February 2007.• www.Samsung.com• www.sony.com• www.haier.com• www.lgindia.com• www.videocon.com• www.bluestar.com• http://edweb.sdsu.edu/triton/SDBiarritz/Rubric.html• www.winebusiness,com• http://www.researchandmarkets.com/reports/53984/• www.marketingpower.com 55
  • Questionnaire on CTVPURPOSE OF STUDYI am an MBA student of ICFAI Business School presently pursuing my ManagementResearch Project.Information in the questionnaire will be:  Used for academic purposes only  Kept strictly confidentialQ1. Which of the following brands of CTV, you are dealing in? (Please Tick) a) LG  b) Samsung  c) Videocon  d) Sony  f) Haier  g) Any Other (Please Specify) ________Q2 How many models do you display for each brand? Samsung LG Haier Sony Videocon15 2129LCDPLASMAQ3 which are the two highest selling models of each company in CTV & their prices? Samsung -………………………………………………………… LG…… -………………………………………………………… Haier… -………………………………………………………… Videocon-………………………………………………………… Any other-…………………………………………………………Q4. To what extents, following brands of CTV are preferred by customers? 56
  • (Mark the appropriate preference level by ticking against respective brand)Brands Very High High Low Very Low NilLGSamsungHiearVideoconSonyQ5 what is the price band for which the customer looks for while makingpurchase decision?Segment Brand Price 15 ………… ………… 21 ………… ………… 29 ………… ………… LCD ………... ………… Plasma ………… …………Q6 is customer ready to pay premium for additional features? …………………………………………………………………………..Q7 what is the expected percentage of customers who are willing to pay Premium ……………. Low-end …………..Q8. What are the parameters on which consumer makes his purchasedecision? Parameters Rank o Price …….. o Packaging .……. o Product Features ……. o Brand Name ……. o Product Quality ……. o Product Design . …… Q9 what is the annual estimated sales of CTV? Brand Amount 57
  • o Samsung ………….. o L.G ………….. o Videocon .…………. o Sony .…………. o Haier …………..Q10. At which visit, customer generally finalize his/her decision for buying a CTV? a) At Fist Visit  c) At Third Visit  b) At Second Visit  d) Any Other (Please Specify) _____Q11. Does customer come with prior knowledge/information about particulars brands of CTV? a) Yes  b) No  If yes, what types of information/knowledge, they have? a) About Discount Offer.  b) About Exchange Offer.  c) About New Features.  d) Any Other (Please Specify) ___________________________Q12. When customers mostly visit showroom for buying CTV? a) During Exchange Offer  c) During discount Offer  b) During Gift Option Offer  d) Any Other (Please Specify)_________Q13. What is the most acceptable size in CTV now days? 58
  • a) 14inch  b) 21inch  29 inch  LCD 26  PLASMA 42  32  50  40  46  52  d) Any Other (Please Specify) ___________________________Q14. Below are different modes of promotion. Please rank following modes from 1 to 7, on the basis of their influence on customer. (Rank1 = high, Rank 7 = low) a) Television ________ e) Radio ________ b) Newspapers ________ f) Magazines ________ c) Pamphlets ________ g) Internet ________ d) Trade Shows ________Q15. What different complaints are faced by you from yourcustomer? (Mark √ to appropriate one) Brand LG Samsung Haier Videocon SonyComplaintsBad PicturequalityProblem withPicture tubeHigh ElectricityConsumptionFading of ColourQ16. Which Brand you Recommend and why?……………………………………………………………………………………………… 59
  • PERSONAL PROFILEDealer’s Name: ____________________________Address: ____________________________Ph. No.:- ____________________________Date: Sign/Stamp Questionnaire on A.C 60
  • PURPOSE OF STUDYI am an MBA student of ICFAI Business School presently pursuing my ManagementResearch Project.Information in the questionnaire will be:  Used for academic purposes only  Kept strictly confidentialQ1.Which of the following brands of AC, you are dealing in? (Please Tick) b) LG  d) Samsung  e) Videocon  c) Blue star  f) Haier  f) Any Other (Please Specify) ________Q2 How many models do you display for each brand?Capacity Samsung LG Haier Bluestar Videocon W/S W/S W/S W/S W/S1.0Ton1.5Ton2.0TonQ3 which are the two highest selling models of each company in AC & their prices? Samsung -………………………………………………………… LG…… -………………………………………………………… Haier… -………………………………………………………… Videocon-………………………………………………………… Any other-…………………………………………………………Q4.To what extents, following brands of AC are preferred by customers? (Mark the appropriate preference level by ticking against respective brand)Brands Very High High Low Very Low Nil 61
  • LGSamsungHiearVideoconBlueStarQ5. What is the price band for which the customer looks for while makingpurchase decision? Segment Brand Price/WPrice/S 1.0 Ton ……………… …………………… 1.5 Ton ……………….. …………………… 2.0 Ton ……………….. ……………………Q6. is customer ready to pay premium for additional features? …………………………………………………………………………..Q7 what is the expected percentage of customers who are willing to pay Premium ……………. Low-end …………..Q8 what is the annual estimated sales of AC? Brand Amount o Samsung ………….. o L.G ………….. o Videocon .…………. o BlueStar .…………. o Haier …………..Q9. Please rank each of the following features from 1 to 5 on the basis of their importance to customers. Rank 1= the most importance feature Rank 5=the least important feature 62
  • Feature Rank Order a) Price _________ b) Design _________ c) Features _________ d) Dealers Communication _________ f) Brand Name _________Q10. At which visit, customer generally finalize his/her decision for buying aAC? b) At Fist Visit  c) At Third Visit  b) At Second Visit  d) Any Other (Please Specify) _____Q11. Does customer come with prior knowledge/information about particularsbrands of AC? b) Yes  b) No  If yes, what types of information/knowledge, they have? e) About Discount Offer.  f) About Exchange Offer.  g) About New Features.  h) Any Other (Please Specify) ___________________________Q12. When customers mostly visit showroom for buying AC? b) During Exchange Offer  c) During discount Offer  b) During Gift Option Offer  d) Any Other (Please Specify )_________Q13. What is the most acceptable size in AC now days? 63
  • b) 1Tone  b) 1.5Tone  c) 2 Tone d) Any Other (Please Specify) ___________________________Q14. Below are different modes of promotion. Please rank following modes from 1 to 7, on the basis of their influence on customer. (Rank1 = high, Rank 7 = low) e) Television ________ e) Radio ________ f) Newspapers ________ f) Magazines ________ g) Pamphlets ________ g) Internet ________ h) Trade Shows ________Q15. What different complaints are faced by you from your customer? (Mark √ to appropriate one) Brand LG Samsung Haier Videocon Blue StarComplaintsBad cooling qualityProblem with NoiseHigh ElectricityConsumptionCost ofMaintenanceQ16. Which Brand you Recommend and why?………………………………………………………………………………………………PERSONAL PROFILEDealer’s Name: ____________________________Address: ____________________________ 64
  • _____________________________Ph. No.:- ____________________________Date: Sign/ Stamp QUESTIONNAIRE FOR CONSUMER 65
  • PURPOSE OF STUDYI am an MBA student of ICFAI Business School, presently pursuing my ManagementResearch Project.Information in the questionnaire will be:  Used for academic purposes only  Kept strictly confidentialQ1. Which of the following deal in consumer Durables? a) Samsung  b) Sony  c) L.G  d) Haier  e) Videocon  f) Bluestar  g) Bajaj  h) Hero Honda Q2. How do you make your Purchase decisions are they. a) Aided ( with the help)  b) unaided ( without help) Q3. Which purchase pattern is followed at your place? a) Individual  b) Family Q4. On which of the following parameters you make your purchase decision? (Rank them according to your preference) a) Price  b) product  c) Quality  d) Brand name  e) Packaging  f) Features Q5.Which Brands of consumer durables you have been using before?……………………………………………………………………………………………………………………………………………………………………………………Q6. Which consumer durables you posses at your home presently?……………………………………………………………………………………………………………………………………………………………………………………Q7. Do you feel like shifting to some other brand or you are fully satisfied with thepresent one?……………………………………………………………………………………………………………………………………………………………………………………Q8. Please rate the following brands of CTV on the scale of 1 to 5?Where 1 means poor service and 5 means excellent service Sony Samsung Haier Videocon LG 66
  • QualityFeaturesDesignScreen resolutionEfficiencyQ9. Please rate the following brand of AC on the scale of 1 to 5?Where 1 mean poor service and 5 mean excellent service Bluestar Samsun Haier Videoco LG g n Quality Features Design Cooling effect EfficiencyDurabilityAfter Sales ServiceQ10. How far you are aware about Samsung Products& what is its impression in Your mind?……………………………………………………………………………………...……………………………………………………………………………………...PROFILE OF THE SUBJECT:  Name of Consumer: ……………………………………………………………………………...  Address: ………………………………………………………………………………… …………………………………………………………………  Phone………………………  E-mail id (If any)………………………………………………………. 67
  • CONCLUSION From the study we can conclude that consumer durables play amajor role in the day to day life of human beings . Consumer durables arehas taken place as a necessity now a day’s one finds it hard to survivewithout them .The comfort alone should not be considered as the basis of measurementof the performance of Consumer Durable industry, it should also includethe Necessity Part. Samsung India electronics one of the leadingConsumer Durable provider should also concentrate on the research anddevelopment in the country itself so as to fulfill the demands of the localresidents in the desired manner.SUGGESTION:  The Companies should more concentrate on R&D rather than wasting their money in various Sales promotional techniques.  Most of the people feel that advertisement is not up to the mark i.e. it does not provide clear picture about the Product Being promoted and its schemes. So proper measure should be taken to make the advertisement more informative and creative.  Samsung India Electronics should also target the lower End markets where their sale is very low due to the existence of the local players.  Samsung should make the market strategy keeping in mind both the lower-end as well as the premium markets.  Samsung should also concentrate on the product category gap between the branded and the local players to win the competition in the long run. 68
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