Market Analysis Of Lg Consumer Durables
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Market Analysis Of Lg Consumer Durables

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Indian Consumer durables market used to be dominated by few domestic players like godrej Voltas allwyn and kalvinater. But post liberalization much foreign company have entered into Indian market ...

Indian Consumer durables market used to be dominated by few domestic players like godrej Voltas allwyn and kalvinater. But post liberalization much foreign company have entered into Indian market dethroning the Indian player and dominating Indian market the major categories in the market CTV, REFRIGRATOR, AIR CONDTIONERS AND WASHING MACHINE.

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Market Analysis Of Lg Consumer Durables Market Analysis Of Lg Consumer Durables Document Transcript

  • Name: Anil Kumar (2008 – 2010)<br />Title: Market analysis of LG consumer durables<br />Summary<br />Indian Consumer durables market used to be dominated by few domestic players like godrej Voltas allwyn and kalvinater. But post liberalization much foreign company have entered into Indian market dethroning the Indian player and dominating Indian market the major categories in the market CTV, REFRIGRATOR, AIR CONDTIONERS AND WASHING MACHINE. <br />India being the second largest growing economy with huge consumer class has resulted in consumer durables as the fastest growing industries in India LG, SAMSUNG the two Korean companies has been maintaining the lead in the industries with LG being leader in almost all the categories. <br />The rural market is growing faster than the urban market, although the penetration level is much lower. The CTV segment is expected to the largest contributing segment to the overall growth the industry. The rising income levels double-income families and consumer awareness are the main growth drivers of the industries.<br />Consumer durables major LG Electronics India Pvt. Ltd. (LGEIL) will invest nearly Rs 500 crore in India this year in research and development, brand-building and other marketing initiatives.<br />The company, having a turnover of Rs 9,500 crore and market share of 26 per cent, is investing Rs 360 crore on brand-building and other marketing initiatives and around Rs 140 crore on research and development, besides launching new platforms in information technology and related areas,<br />LG’s innovative ‘211 campaign’ to provide quality after-sales service, will also be expanded from the existing 22 to 40 cities by next month, The campaign, for which IT infrastructure has been set up, includes the company’s response to customer complaint within two hours. The fixing time for complaints varies from one hour to a maximum of 24 hours. <br />Objective:<br />To objective of the report is to study of the main objective of filed survey during the project was to find out the market share of the LG and also calculate the display share. Find out the positional dealer who can sale the LG product in large volume. <br />Scope of project<br />This project gives me great exposure to the consumer durable market because it includes product knowledge and the filed job in which I have visited the store comes under the region of Pune. During this project I also took part in the exhibition of LG which held for the purpose branding and awareness of LG product. This project helps me to know the market practically. My job was during this project to see the market share and also the display share of the LG product in the store. LG always insist the 50% display share of LG product because LG believes that “JO DIKHTA HAI WO BIKTA HAI”. <br />Key Findings:<br />By calculating the display share we found that in most of store LG has 50% display share almost all categories.<br />By the actual monthly sale of particular store we came to know the capacity of the store and how much product can they sale.<br />It helps us to know that weather dealer is capable of being a direct dealer of LG or not and it also helps to find out the new dealer who are capable of being the dealer of LG.<br />We also came to know while visiting the shops that there was big problem of after sale service.<br />Many dealers were facing the problem of after sale service because there is no follow up calls from LG.<br />Demo calls also not done properly.<br />Reason for Choosing This Topic:<br />I have taken this topic to get the insight market analysis of consumer durables of LG and thereby understanding their rudimentary rules or strategies to gratify the consumers and ultimately being an invincible player in the Electrical market since long. What makes LG immaculate in the execution of its services to damndest is the main question to answer via this report.<br />Methodology:<br />I have got 100 Questionnaires filled by localities and customer of LG. These questionnaires will account for primary data where as the secondary data has been picked up from the internet, book and articles.<br />Recommendations and Suggestions:<br />Exhibitions do not help to generate so much sells but they should be conducted regularly. This helps in generating awareness regarding the product in customers which ultimately helps in sales. <br />Also it is helps in advertising for the new products. Like in this exhibition new LCD SCARLET was advertised. Company should always focus on service. <br />Display share should be increased where there is less than 50% as LG also believes that “JO DIKHTA HAI WO BIKTA HAI”.<br />Company should try to improve service. No doubt the company products have technically edge over competitors but in long run it may hamper the company’s profit.<br />Company should concentrate more on its major drivers LCD, IT, and GSM. Branding and promotions should be done effectively as it creates a long lasting image in the mind of customers. <br />Company should also cater to the needs of sub dealers as some of the sub dealers have potential of high sales.<br />Limitations:<br />Every study has certain limitations. In my study, also there were certain limitations, which I could not able to solve.<br />The research was conducted in a very small area.<br />My research work period witness the biggest ups and downs in product sale of different brands, which affected the perception of the customer. This was biggest drawback of my study.<br />Time factor was also important for me. I had only 60 days to complete my research, for which a full-fledged report was insufficient for me.<br />The customer filled the questionnaire mostly in careless manner, so it was difficult to make them hold for time. <br />I had only found the upper-middle class family to fill up the questionnaire, but generally, an average middle class family was required for the study.<br /> The sample size is also very small which represent my research on consumer behavior<br />My study is not recognizable in whole INDIA as well as outside Ranchi due to the above limitations and less area coverage. <br />