Consumer Buying Behaviourof Smart TV Market in Ranchi Presented by, Abhay Anand Praveen Kumar Kavita Khoya Santa Soreng Kunal Bara Komal Khalkho Nadeem Ansari Sunit Lakra
INTRODUCTION Represents a new lifestyle that lets you communicate with the world, experience joy, share your emotions and make a statement. Smart TV also referred as a connected TV or Hybrid TV. Works as a television set with integrated internet capabilities. Smart TV revolutionize the landscape of our home entertainment. Smart TV is the fast multitasking for the best uses.
FEATURES High definition display Internet(web browsing) USB connectivity Conversion facility from 2D to 3D Video conferencing Data storage facility Face recognition Motion control
OBJECTIVEMain objective To study and analyze the factor influences the consumer to purchase the Smart TV. To examine the product and brand awareness of Smart TV.Sub-objective To find out the degree of satisfaction of this product’s post purchase services. To examine customer preference for buying Smart TV.
RESEARCH METHODOLGY Primary source of data has been collected through questionnaire. Secondary source of data collected from organizational record , catalog. Sample size 40 Statistical method is used to summarize and describe the collected data. Graphical methods has been used to show the data analysis.
Age Group liked Smart TV 20-3040.00% 31-40 37.50% 41-5035.00% Above 5030.00%25.00% 25.00%20.00% 20.00% 17.50%15.00%10.00% 5.00% 0.00% 20-30 31-40 41-50 Above 50 In above graph, it is clear that the age group of 31-40 prefer the Smart TV most. Otherthan this few has a budget problem and few are not aware with the new feature andtechnology of the Smart TV.
People Occupation Graph 40.00% 37.50% 35.00% 30.00% 27.50% 25.00% 22.50% 20.00% 15.00% 12.50% 10.00% 5.00% 0.00% Non Gov. Gov. Business OthersFrom the above graph and table, it is clear that most of the people with whom we haveinteracted belong from business world, which shows that most of the customer of Smart TVavailable in market has their own business and are interested in purchasing of Smart TV.
How People get informed? Friends, 15.00% Internet, 25.00% News Paper, 20.00% Internet Ads on TV Radio News Paper Radio, 2.50% Ads on Friends TV, 37.50%This Pie Chart represents the media through which companies reaching to themaximum number of customer. From the above graph it is very clear that the ads onTV is most effective way to attract the customer and then internet, while radio is theworst way of communication. If product feature and quality is good enough thenpeople interact with each other and suggest for buying that product.
Product Availability in Market 5% 12.50% Yes No Cant Say 82.50%Smart TV is newly launched product and is very costly. May be this is the reason why thisproduct is still not reached in remote area. Almost 13% people said that Smart TV is notavailable in their local market while 83% in which most of the people belongs from town havesaid that “yes”, only 5% people are not aware with this product.
Product Preference by The Public60.00%50.00% 55.00%40.00%30.00% 27.50%20.00% 17.50%10.00% 0.00% LCD LED Plasma TV TypeWhen we asked about the display, most of the people liked LED display, 28% said LCDwhile only 18% has said Plasma display. Here the best one is Plasma display but its cost istoo high to fit in the budget of folk. LED display stand in the middle whose display qualityand price is good enough. LCD generally preferred by the low budget customer.
Brand Preference by Public Samsung 40.00% 35.00% 30.00% 20.00% 10.00% 40.00% 2.50% Videocon 0.00% LG 22.50% SonyWhen we were talking about the brand 40% people has liked LG due to its low price, 35%said Samsung due to its picture quality, 23% has liked Sony due to its brand name andquality but its price is too high. Videocon is not preferred as a good brand for Smart TV.
Most considerable thing30.00% 30.00% 25.00% 25.00%25.00% 20.00%20.00%15.00%10.00% 5.00% 0.00% Price Size of display Type of display Tech. PropertiesMost of the people have considered the type of display. Technical properties and size ofdisplay has scored equal grade while only 20% people has said price is his first priority. Thepeople who preferred price have had low budget for Smart TV. It shows that Smart TV is alsoattracting those people who are not capable but if the price is slightly reduced they will preferto buy this product.
Feature liked by people40.00%35.00% 37.50%30.00% 25.00% 25.00%25.00%20.00%15.00% 12.50%10.00% 5.00% 0.00% HD Display Internet /Storage 3D Other Internet connectivity facility provided in the Smart TV has attracted most of the people while 3D feature and other facility has attracted equally. Other feature includes VGA port connectivity, USB port, Storage facility, inbuilt set top box etc. HD is preferred less because it is the main feature of any smart TV and without it imagination of Smart TV is not possible.
Price Satisfaction 50.00% 47.50% 45.00% 40.00% 35.00% 30.00% 27.50% 25.00% 20.00% 17.50% 15.00% 10.00% 7.50% 5.00% 0.00% Highly Satisfied Satisfied Neutral DissatisfiedThis graph is made to show the price satisfaction level of the people. Here 48 % of thepeople are not satisfied with the price of Smart TV, which can be overcome by reducing theprice level through cutting the some of the feature which were not utilized by commonpeople.
Better Services Provided by Brand 42.50% 45.00% 40.00% 35.00% 35.00% 30.00% 25.00% 20.00% 12.50% 15.00% 7.50% 10.00% 2.50% 5.00% 0.00% Samsung LG Sony Videocon OthersThis question has been asked to know the public propensity towards brand and theirreason. 43% people have selected Samsung for their better and fast service. This is alsoplaying an important role in market demand.
Buying Preference Vs Better Services Better service provider Buying Preference45.00% 42.50% 40.00%40.00%35.00% 35.00% 35.00%30.00%25.00% 22.50%20.00%15.00% 12.50%10.00% 7.50% 5.00% 2.50% 2.50%0.00% Samsung LG Sony Videocon Others This graph is showing the difference between preference of the public for brand and services provided by them. Here better service providing company is Samsung while highest buying preference is for LG. This is only due to the price variation of both brand for similar features.
FINDINGS By the introduction of Smart TV we can see that the competition has increased between the respective companies. In this survey we found that the demand of LED Smart TV was more than that of LCD and Plasma among the consumers. The consumers of Smart TV are mainly concern about the features like quality of the display and the technical properties (internet accessibility). High price is one of the major factors which affect the consumer buying behavior regarding Smart TV.
RECOMMENDATION Company should promote their product and make them available in the remote areas of Ranchi. In the companies perspective they should develop the technology that deduct the price of smart TV in order to segment the middle income group. The company should segment the other age group 20- 30 & 40 above to increase the sale. The company should increase the post purchase services of Smart TV in order to attract the consumers.