2. IFB (Indian Fine Blanking) Industries Limited is India’s leading home
appliances and fine blanks producer. The company was known as Indian Fine
Blanks Ltd. It started operations in 1974 in collaboration with Hienrich Schmid
AG of Switzerland. The company got listed on the BSE in 2000. Today, the
company manufactures fine Blank components such as strengtheners, Decoilers
and strip loaders as well as other engineering components, and home appliances
such as washing machines, dishwashers, microwaves, hobs, Chimneys and other
cooking appliances. Its manufacturing plants are located at Kolkata and
Gangarampur (West Bengal), Selcete and IIhas (Goa), Bhopal (Madhya Pradesh)
and Bangalore. Its registered and corporate office is located at Kolkata.
3. Washing Machines market is the one of the fast growing market under
home appliances. Washing Machine market and then goes on to segment the market
based on various fronts, including regional markets. Each of these segments is
studied in detail on the basis of volume or revenue to present a clear picture of the
projected performance of each of these segments.
To be customers first choice
Vision
Mission
To be the best in the eyes of our customers, Employees, Business Partners & Shareholders
For Customers – the best product to buy, an innovative product that consistently
outperforms peers and outstanding service that smiles every customer smile.
For people – An environment where individuals can constantly learn, grow and prosper.
For business partners – IFB should be the first choice for their products and services.
For Investors- The company should be acknowledged as one with the highest standards of
corporate transparency that delivers on promises given to share holders.
4. IFB is the market leader in front loader washing machine in India and
we are putting all our efforts and hard work to become the first choice when
it comes to being an integral part of your household. They always keep
customers convenience on top priority. These washing machine and cloth
dryer is ready to resolve your problem.
Over two decades, they grown in strength to become a word
synonymous with home solutions. Through a constant evolution of the very
best washing Machines, 100% Clothes Dryers. We have helped usher in a
lifestyle of convenience and freedom. Today, millions of Indian households
use IFB products, making us one of the most trusted home appliances
brands in the country. Its service network of 650+ franchises and 2,832+
service engineers ensures we deliver exceptional service across the country.
5. Traditionally, consumer researchers have approached decision making
process from a rational perspective. This dominant school of thought views
customers as being cognitive (i.e., problem-solving) and, to some but a lesser
degree, emotional. Such a view is reflected in the stage model of a typical buying
process (often called the customer information processing model) depicted in
Figure.
Problem Recognition
Information Search
Evaluation and Selection of Alternatives
Decision Implementation
Post-purchase Evaluation
8. LG Corp is South Korea's second largest company that produces electronics,
chemicals, and telecommunications products. The Home Appliances division
makes products like refrigerators and washing machines. Its 2007 sales totaled
KRW 11.8 trillion, accounting for 29% of the company's total revenue. The
division's profit was KRW 717.1 billion. About 35% of the company's home
appliance revenue comes from the North American market. It also produces
Mobile phones, Vacuum cleaners.
Samsung Electronics is the world's largest electronics company with 2009
revenue of $117.4 billion, Samsung Town, Seoul, South Korea. Samsung
Electronics has achieved significant market share in recent years.
Whirlpool is a fortune 500 company and a global manufacturer and marketer
of major home appliances with it’s headquarter in Benton charter township,
Michigan, United States, near Benton harbor. The company has annual sales of
approximately $20 billion more than 700000 employees and more than 70
manufacturing and technology research centre around the world
Electrolux
Panasonic
Godrej
Onida
Videocon
These are some of competitors
10. Power of
Suppliers
Power of
Buyers
Threat of
New
Entrance
Availability
of
Substitutes
Competitive
Rivalry
Threat of New Entrance (Moderate)
Most current players are global players
New entrants will need to invest in brand, technology, distribution
Power of Suppliers (Low)
Indigenous supply base limited – most raw materials are imported
Power of Buyers (High)
Multitude of brands across price points – wide variety of choice for customers
Availability of Substitutes (High)
Unbranded products and cheaper imports could enter the market
Competitive Rivalry (High)
Number of well established players; several new players entering
Good technological capability
Many untapped potential markets
Overall, the sector is a dynamic one, with significant growth opportunities.
11. Brand image in Home Appliances Division
Innovative Product
Compatible workforce
Strong after sales service
Healthy financial banking
4 Years 100% Warranty & 10 years spears
part support
Less brand awareness
Less number of dealers so eventually less
availability of IFB’s products.
Less promotional activities
Scope for growth in the rural market
Scope in semi-automatic washing machine
segment
Trust by valued and existing customers
IFB has opportunities because expense on
white goods is increasing day to day by common
people.
The trust in company’s product by valued
customers
Aggressive and effective promotional market
in initiatives used by competitors like TV ads,
hoardings etc.
Preference of customers and dealers of other
brands like LG, SAMSUNG etc. over IFB machine
etc.
ThreatsOpportunity
Strength Weakness
12. CASH COW
RELATIVE MARKET SHARE
CASH COW DOGS
QUESTION MARKSTAR
HIGH
HIGH
LOW
LOW
MARKETGROWTHRATE
IFB
IFB has high market growth rate as well as high relative market
share. Therefore it is a star. Now being a star it leads to large amount
of cash consumption and cash generation. It also requires heavy
investment to maintain its market share. In the product life cycle it is
at the growth stage. Therefore the company has a nice opportunity for
growth in Indian market.
13. CASH COW
Existing Products
ExistingProducts
New Products
NewProducts
Market
Penetration
Product
Development
Market
Development
Diversification
Market penetration is the name given to a growth strategy where the
business focuses on selling existing products into existing markets
It is been clear from the above definition that market penetration is the
strategy were company try to maintain its share in the existing market with its existing
product. Having wide range of product in market IFB is already following this strategy of
market penetration
Market Penetration
14. Product Development
Product development is the name given to growth strategy where
a business aims to introduce new products into existing markets. Now the company is
ready to launch some new products.
Diversification
It is the name given to the growth strategy where a business
market new products in new markets. The new products which are there in the pipe
line can cover the new market also with its unique features and reasonable price
Market Development
Market development is the name given to a growth strategy where
the business seeks to sell its existing products into new markets. IFB is now almost
covered all states with its existing products. As far as rural market is concerned, It
cannot capture it with its existing product due to high price.
15. Political Factors
Economic Factors
Sociocultural Factors
Technological Factors
Political Factor
High import duty
Plants in tax-incentive areas
Export promotions schemes of the Indian government like EPCG & EOQ status
Economical Factor
Increase in per capita income
Growing GDP high disposable income
Increase in spending power
Socio-cultural Factor
Manufacturing eco-friendly product
Increasing life style & comfort
Technological Factor
Improvement in technology made the electronic product more featured
Quality of product has been increased
16. IFB needs to create public awareness in the market &
Should spend heavily on promotional activities.
Need to increase number of dealers
New dealers in this every region.
IFB try to come up with special customize shop only for IFB products.
Give much concern to exhibition on different locations
Dealer’s discounts and schemes should be maintained to satisfy dealers.
