1. A PROJECT ON
Benchmark IFB MWO with competition price and feature and
recommend Action plan for regain of share in market
Prepared by: - Shyam Singh
Roll No. - 111314
SESSION- 2011-13
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2. ACKNOWLEDGEMENT
I sincerely thank IFB Industries Pvt. Ltd. for giving me the opportunity to pursue
Summer Internship in their organization. It is indeed a great moment of pleasure to
express my feelings. This project is an important part of our course and curriculum
and it gives me a real and practical exposure of the corporate world. So I am deeply
thankful and pleased to acknowledge the opportunity given by IFB Industries Pvt.
Ltd. and guidance provided by :-
Mr Deepak Prakash (Branch Manager, IFB Industries
Ltd, Patna),
Miss Tripti Jha (Business Manager, Domestic home
appliances, IFB Industries Ltd., Patna),
Mr Ashish Mishra (Business Manager, Commercial
appliances and Institutional sales, State of Bihar, IFB
Industries Ltd, Patna) and
PROF. AK HALDAR(DEAN, INTERNATIONAL SCHOOL OF
MANAGEMENT PATNA)
This entire project has been very encouraging and will certainly help me in building a
good carrier.
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3. CONTENTS
SL NO. PAGE NO.
1 EXECUTIVE SUMMARY 4
2 COMPANY PROFILE 5
3 IFB’S PRODUCTS 5,6
4 SOME MAJOR PLAYERS IN THE HOME APPLIANCES SEGMENT IN 7
INDIA
5 RESEARCH METHODOLOGY 8
6 SAMPLING TECHNIQUE 9
7 SOURCE OF DATA COLLECTION 9
8 MARKET SHARE OF DIFFERENT COMPANIES DURING 2011-12 10
9 COMPARITIVE STUDY OF MWO 11-14
10 MARKETING STRATEGY OF DIFFERENT BRANDS 15
11 QUESTIONNAIRES ( EXISTING CUSTOMERS’ RESPONSE) 16-20
12 GRAPH BASED ON SURVEY REPORT 21-30
13 CONSUMER RESPONSE 31-33
14 SCOPE OF BETTER SHARE OF IFB MWO 34-37
15 SCOPE OF BETTER MARKET SHARE IN BIHAR 38-39
16 FROM DEALERS’ 40
17 GRAPH BASED ON DEALERS' RESPONSE 41-45
18 SERVICE 46
19 DEALERS' SATISFACTION 46
20 SWOT ANALYSIS 47
21 INFERENCE, LIMITATIONS 47
22 SUGGESTION 49
23 BIBLIOGRAPHY 50
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4. EXECUTIVE SUMMARY
Indian white goods markets is increasing day by day with domestic companies
Like IFB, KELVINATOR, GODRAJ, VIDEOCON and MNCs like LG, WHIRPOOL, etc. IFB which is a major
player in this segment has products like dishwasher, washing machine, dryer, microwave Ovens and
other kitchen appliances. IFB is leader in front loader washing machine. Earlier it was holding very
fine position in MWO segment. Now a day, challenging innovation is coming in market. This compels
to do better .For this I have prepared a questionnaire. I collected data from sample size of 50.
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5. COMPANY PORFILE
IFB Industries Limited is known as Indian Fine Blanks Limited. It started their operations in India
during 1974 in collaboration with Hienrich Schmid AG of Switzerland. The product range includes
Fine Blanked components, tools and related machine tools like Straighteners, Decoilers, Strip loaders
and others. The Engineering divisions are located at Kolkata & Bangalore. The Bangalore unit, apart
from Fine Blanked components, manufactures motors for White goods as well as automotive
applications.
Vision
IFB wants to be the synonymous with Innovation & Technology in its chosen fields of business activities.IFB
wants to prove itself as globally incomparable technology.
Mission
Continuously maximizing company's wealth by manufacturing and marketing best quality engineering
products that go into daily life.
IFB’S PRODUCTS DISPLAY
Why IFB?
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. We
always keep customers’ convenience on top priority. We are innovating in technology to help in your
invention in cooking. When you see our products, you can imagine how will it improve the internal
beauty of your house? When a guest comes to your house, You think to serve dish in sparkling utensils.
Our dishwasher is ready to do that. Also you don’t need to become worry about cleaned dried cloths
whether it is winter or rainy season. Our washing machine and cloth dryer is ready to resolve your
problem.
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6. CLOTH DRYER
When you see the drum of our washing machine it can be seen that this is full of holes. On comparing
our drums with other it can be easily found that in other brands hole is tiny in size. People generally
think drying is because of hot air. Excess use of hot air is not required and cloth is dried in safe
environment.
WASHING MACHINE
There are two types of washing machines. These are front loader and top loader. We are leader in front
loader with market share of 66%.we produce both commercial and industrial products. Our drum has
made fabric friendly. We have innovated a machine which is able for 100% dryness of cloths.
MICROWAVE OVEN
IFB is veteran in the production of solo, grill and convection, all three types of MWO machines. We
are providing sufficient no of auto cook menu. Our machines are fully automatic. But you can also
use it manually. Its cavity is made of stainless steel. Some models have powder coated cavity. We
give sufficient no. of accessories, which help to cook different tasty foods.
DISHWASHER
IFB is producing both type of dishwasher, domestic and commercial. This machine is very efficient. It
behaves environment friendly. It washes hygienically. It consumes very less amount of aqua and
detergent. Twelve plates set can be washed simultaneously. It removes stub born dirt by using smart
feature.
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7. Some of Major Players in the home appliances segment in India
1) The 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 totalled 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.
2) 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.
3) 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
harbour. 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.
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8. RESEARCH METHODOLOGY
MEANING
Research is an intensive and purposeful search for knowledge and understanding of social and
physical phenomenon. Research is the systematic and objective analysis .It is controlled observation
that may lead to development of generalisation, principles etc. Research is art of scientific
investigation.
OBJECTIVE
To identify the potential of IFB’S MICROWAVE OVEN
To identify buying pattern of MICROWAVE OVEN
To identify the scope of the IFB MICROWAVE OVEN and identification of factors which affect
MWO sales
To identify competitors range /price/features of MWO
SCOPE
My research is confined to Patna and Bihar.
I have considered MWO only.
RESEARCH DESIGN
DEFINITION
Research design is set of advance decision which specifies the methods and procedures for collecting
and analyzing the required information.
NEED AND IMPORTANCE
We collect information from customers, dealers, media etc. It helps in research to identify the need
of customers and competitors strategy. Now we use our effort to provide the best Solution to the
customers. This process is very important because it helps to achieve the objective.
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9. SAMPLING TECHNIQUE
CONVENIENCE SAMPLING:-
Convenience sampling is used in exploratory research. Where the researcher is interested in
getting an inexpensive approximation of the truth.
For my survey I had sample size of 50 customers.
SOURCE OF DATA COLLETION
(a) PRIMARY DATA
(b) SECONDARY DATA
(a) Primary Data :-
Primary data was collected by preparing questionnaire and contacted the consumers and
dealers’ to get their response and information.
(b) Secondary data:-
Secondary data consist of information collected from the internet, dealers, company
catalogue etc
STATISTICAL TOOL USED
I have used only pie chart.
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10. MARKET SHARE OF DIFFERENT COMPANIES DURING 2010-11
SALES UNITS (in Thousands) % MARKET SHARE
LG 400 28.98
SAMSUNG 250 18.12
ONIDA 150 10.87
IFB 148 10.72
GODREJ 120 8.70
WHIRLPOOL 120 8.70
VIDEOCON 79 5.72
KORYO 45 3.26
OTHERS 68 4.93
KORYO OTHERS
VIDEOCON 3% 5%
6%
LG
WHIRLPOOL 29%
9%
GODREJ
8%
IFB
11% SAMSUNG
ONIDA 18%
11%
INFERENCE: - This graph says that customers’ first choice is LG, second is SAMSUNG, ONIDA and IFB
is neck-to-neck, WHIRLPOOL IS 5th choice and so on. It seems consumers have more faith in brand LG
and SAMSUNG.
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11. MARKET DYNAMICS
MWO market has been growing by 20-25 % constantly over last 4 Yrs since 2006. In 2010-11 it
improved by 9.5% .This is equal to 1.38 million approximately. It is of cost Rs 800 crore. Convection
model increased by 42-53 %. Grill is constant at 32 %. Solo model lost by 11 %.
COMPARITIVE STUDY OF MWO
Sl. Basis of IFB LG SAMSUNG WHIRLPOOL GODREJ
N comparison
o.
1 Slogan set yourself Life's Good Live smart happiness take for
free with IFB with Samsung begins at granted
appliances home and you
will never
know
better
2 MWO Slogan Redefining Make tasty Explore Interesting All the
cooking moments delicious khaana flavours of
experience healthy moments rozaana the world
now in your
home
3 Solo 2 4 4 2 1
4 Grill 3 11 7 3 6
5 Convection 9 18 17 12 10
6 Total no of 14 33 28 17 17
models
7 warranty(in yrs) 1(on 1(on 1(on complete 2(on 3(on
complete complete body),5(on complete magnetron
body),3(on body) magnetron) body) for selected
cavity and models)
magnetron)
8 Features
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12. 9 Motorised No Yes Yes No No
rotisserie
10 Fermentation No Yes No No No
11 Intellowave No Yes No No No
technology
12 Next step guide No Yes Yes No No
13 No of auto cook 150 (in 38 SRC 1) 201(MJ3281BC 219( in CE 117 PF – 118( in 20 C 161(in GMX
G,MJ3281BPG) X, PF-B)
menu(maximum) 118) 23 CAI
MKM)
14 Easy to use For auto cook Select menu no, For auto cook For manual Select menu
menu, Put menu push start menu, Put menu cooking Select no, push start
no, push start button, for no, push start menu no, select button , for
button, for manually select button, for temperature, manually go for
manually, select power level, manually cooking time, power level type of
cooking mode of select time, and go for start, cooking, and
category, power cooking, temperature, for auto cook required steps
level temperature, power level, push menu ,select and push start
temperature, time, push start start button menu no and button
time, push start button push start button
button
15 Size of display Single rack Multi rack Multi rack LCD Single rack Single rack
digital LCD
digital LCD LCD LCD
16 Charcoal lighting No Yes No No No
heater
17 Egg not possible possible in not possible not possible not
boiling/cooking(in MC8188HRC possible
cell)
18 Aesthetics Door is plain Designed Door is plain Door is plain designed
door with door in
attractive some
photo model
19 Cavity Stainless Stainless Ceramic stainless Stainless
steel steel enamel steel, magic steel
clean,
powder
coated
20 Voice Guiding No No Yes No No
21 Solar Dom No Yes No No No
22 Colour Single color- Single color- Single color- Single color- Single
3(black, 4(white, 7(black, silver, 2(black, color-
silver, silver, black, white white, 1(black),mi
mirror mirror etc),mixed silver),mixed xed colour-
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13. Finish),mixe finish),mixe colour-2 colour-2 2
d colour -2 d colour-5
23 Trio Technology No No Yes No No
24 Auto Deodoriser No Yes No No Yes
25 Dehumidification No Yes No No No
26 Humidity sensor No Yes Yes No No
27 Auto moving grill No Yes No No No
28 Keep warm No Yes No Yes(in some Yes(in some
models) models)
29 Tandoori delight No Yes No No No
30 Convection + Yes Yes Yes Yes Yes
Microwave
31 DES(Dual No No No Yes No
emission system)
32 Cavity clean Steam clean Steam clean Steam clean Magic Steam
clean(same clean
like steam
clean)
33 ACCESSORIES Hand gloves, Hand gloves, Hand gloves, Hand gloves, grill Hand gloves,
roaster, cook two spoon, rectangular glass rack, skewer for grill rack,
and serve with high rack, low dish with handle, rotisserie, skewer for
lid, grill rack, rack, four glass grill rack, crisp microtawa, crust rotisserie,
crisp cook tawa, bowl, non stick cook tawa, skewer plate, Idli stand crust plate,
skewer for multi cook for rotisserie, Idli vertical
rotisserie tawa stand rotisserie,
steam clean
bowl, Idli
stand,
34 Recipe book Nita Mehta Nita Mehta Sanjeev Company Tarla Dalal
Kapoor personal
35 Starter kit papar Idli stand, cooking glove, Recipe book, Recipe
roaster, Roti recipe book, steam bowl, 4 lid , 2 plastic book,1 lid,1
crisper, steam chef, Idli stand, cover jar rectangular
recipe book, high rack, multi cook plastic
rectangle Roti crisper, tawa, recipe covered
glass dish dish with book, micro box, 1
with handle, plastic cover proof plastic cup
lock- it 300 bowl(2),roller
ml round, ring, turn table
cook n serve
with lid,
Round dish
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14. with plastic
cover, Idli
stand
36 Round rack Yes Yes Yes No No
37 Multi spit No No Yes No No
38 Steam clean Yes Yes Yes Yes Yes
39 Square metal tray No No on selected No No
model
40 Rotisserie on selected on selected on selected No No
model model model
41 Steam bowl No No Yes No No
42 High rack No Yes No No No
43 Low rack No Yes No No No
44 Tawa Yes Yes Yes Yes Yes
45 Square tray No Yes No No No
46 Square rack No Yes No No No
47 Steam chef No Yes No No No
48 Metal tray Yes Yes Yes Yes Yes
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15. MARKETING STRATEGY OF DIFFERENT BRANDS
IFB LG SAMSUNG WHIRLPOOL
NO. OF DEALERS 34(includes all 7 9 14
for MWO dealers)
NO OF EXCLUSIVE 0 3 4 0
SHOWROOM
PRODUCT Generally 2/3 Generally 8/10 Generally 6/8 products Generally 1/2
PLACEMENT products products placed on display products placed
placed on placed on on display
display display
PRICE RANGE 10500-13290 5800-26500 11500- 10800-11990
(showroom has 16990(showroom has
almost ranges) almost ranges)
NO. OF RECIPES 85 75 80 126
IN RECIPE BOOK
COOKING CLASS 0 3 0 0
IN SHOP It is available in It is available It is available in almost It is available in
BRANDING very less no of in almost shops shops very few shops
shops
POP It is present It is present It is present with all It is present
with all with all products with all
products products products
DANGLERS Nowhere it is It is present in It is present in Nowhere it is
present showroom only showroom and dealers present
shops
INFERENCE:-
Consumers think to buy from dealers’ point. This is psychology of customers’ buying. If it is
nearer to its home so fine so good.
There are some customers who always prefer to buy from exclusive showroom. This gives
mental satisfaction.
Some customers took decision on the basis of no of recipes available in recipe book. Now a
day people need more convenient cooking which is also supported by way of cooking. They
feel cool if it is available in regional languages.
Sometimes it is seen that customers change their decision after observing different models
available in display.
When customers inter in shop, they try to collect all the information. In shop branding and
pop provides very fast and easy information about the brand and product.
Danglers bring attention of customers. It has also impact on buying decision.
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16. SUGGESTION:-
Dealer should be made in different parts of the city where potential customers live.
Dealers must be encouraged to keep more products on display.
Exclusive showroom should be opened.
There must be 2/3 cooking classes in one month.
Shopkeeper must be asked to use in shop branding.
Recipe book must be available in regional languages.
Brochure should have all the simplest and essential guidelines in all regional languages.
QUESTIONNAIRE (CONSUMERS’ RESPONSE)
S Mo Wha Wha What HOW For Whic Whi Whic Wo Wha
l del t is t is is the often what h ch h uld t
N no the the reaso is purp featu feat featu you probl
o reas reas n to MW ose re do ure re like ems
. on to on to buy O is the you don are IFB do
buy buy that used MW like 't you to you
MW IFB? partic ? O to you lacki co face
O? ular used use? like ng in me whil
model ? ? your wit e
? mach h using
ine? mor MW
e O?
colo
urs?
If
yes
ple
ase
spe
cify.
1 30SC time brand suitable daily heatin fast None can't No no
2 saving name to family g, heatin say proble
size baking g m
2 17P health brand suitable daily Cookin easy Nothi Nothin No no
G1S y name to family g to use ng g proble
cookin size m
g
3 20P health brand price, almost Heatin fast no no no no
G3S y name feature daily g heatin one proble proble
cookin of the g m m
g, time model
16 | P a g e
17. saving
4 25P time Aesthe suitable almost heatin easy None Nothin No no
G1S saving tics to family daily g to use g proble
3 size ,cookin m
g,
baking
5 30SC conve brand feature daily Heatin fast None Nothin No no
2 nience name of the g heatin g proble
model g m
6 30SC health brand suitable daily heatin easy Nothi can't No feature
2 y name to family g, to use ng say not
cookin size baking easy
g to
unders
tand
7 30SC conve brand feature almost Heatin fast Nothi can't No no
2 nience name of the daily g heatin ng say proble
model g m
8 20SC health brand suitable almost heatin easy No better No no
2 y name to family daily g, to use baking proble
cookin size baking m
g
9 20SC time brand suitable daily Heatin fast No no No no
2 saving name to family g heatin proble proble
size g m m
1 25SC health referre suitable rarely Heatin easy No can't No more
0 2 y d to to family g to use say comfor
cookin someb size table
g ody with
conve
ntional
mode
of
cookin
g
1 20SC time brand feature daily heatin fast No can't No no
1 2 saving name of the g,cooki heatin say proble
model ng,bak g m
ing
1 30SC health brand suitable almost Heatin easy No Nothin No no
2 2 y name to family daily g to use g proble
cookin size m
g
1 20SC conve Aesthe suitable almost heatin fast No can't No no
3 2 nience tics to family daily g, heatin say proble
size baking g m
1 20P health brand suitable daily Cookin easy No Nothin No no
4 G3S y name to family g to use g proble
cookin size m
g
17 | P a g e
18. 1 30SC health brand suitable almost heatin easy No None No no
5 2 y name to family daily g, to use proble
cookin size baking m
g
1 30SC time brand suitable daily Heatin fast No can't No no
6 2 saving name to family g heatin say proble
size g m
1 30SC health brand feature daily Heatin fast No Nothin No no
7 2 y name of the g heatin g proble
cookin model g m
g
1 30SC conve Aesthe feature almost Cookin fast No bread No no
8 2 nience tics of the daily g heatin makin proble
model g g m
1 17P health brand suitable daily Cookin less oil No better yes, Nothin
9 G2S y name to family g consu baking maro g
cookin size mption on
g
2 30SC time brand suitable daily Cookin less oil Nothi bread No no
0 2 saving name to family g consu ng makin proble
size mption g m
2 25SC time Aesthe feature almost baking fast None No Nothin
1 2 saving tics of the daily heatin makin g
model g g sattu
pratha
2 20P health brand suitable almost heatin fast None better No Nothin
2 G1S y name to family daily g, heatin toast g
cookin size baking g roastin
g g
2 30SC health brand suitable almost Heatin less oil No bread yes, no
3 2 y name to family daily g consu makin sky proble
cookin size mption g like blue m
g tawa
2 25SC time referre feature almost Cookin fast No egg No No
4 2 saving d to of the daily g heatin boiling
someb model g
ody
2 30SC health brand suitable daily heatin less oil No tawa yes, No
5 2 y name to family g, consu bread white
cookin size baking mption makin
g g
2 17P time brand suitable almost Heatin less oil No egg No No
6 G2S saving name to family daily g consu boiling
size mption
2 30SC health referre suitable Daily Heatin fast No can't No no
7 2 y d to to family g heatin say proble
cookin someb size g m
g ody
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19. 2 30SC time referre feature rarely Cookin less oil No Nothin No no
8 2 saving d to of the g consu g proble
someb model mption m
ody
2 30SC health brand suitable almost baking fast No Nothin No No
9 2 y name to family daily heatin g
cookin size g
g
3 25SC health referre feature Daily Cookin less oil No tawa No no
0 2 y d to of the g consu bread proble
cookin someb model mption makin m
g ody g
3 25SC health brand suitable Daily heatin less oil No Nothin yes, no
1 2 y name to family g, consu g maro proble
cookin size baking mption on m
g
3 25SC time brand suitable almost Cookin fast No Nothin No no
2 2 saving name to family daily g heatin g proble
size g m
3 30SC conve referre feature Daily Cookin less oil No egg No Nothin
3 2 nience d to of the g consu boiling g
someb model mption
ody
3 25SC conve referre suitable Daily Cookin less oil No Nothin No Nothin
4 2 nience d to to family g consu g g
someb size mption
ody
3 25SC conve brand suitable Daily Heatin fast No Nothin No no
5 2 nience name to family g heatin g proble
size g m
3 30SC time brand feature Daily Cookin less oil No Nothin No no
6 2 saving name of the g consu g proble
model mption m
3 20SC time brand feature almost Cookin fast No tawa No None
7 2 saving name of the daily g heatin bread
model g makin
g
3 17P conve referre feature almost heatin fast No No No no
8 G2S nience d to of the daily g,cooki heatin proble
someb model ng,bak g m
ody ing
3 20P time brand suitable almost Cookin fast No No No no
9 G3S saving name to family daily g heatin proble
size g m
4 30SC conve referre feature Daily Cookin less oil No No No no
0 2 nience d to of the g consu proble
someb model mption m
ody
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20. 4 20sc conve referr suitable Daily Cookin less oil No No No no
1 2 nience ed to to g consu proble
mption m
someb family
ody size
4 30SC time brand suitable daily Heatin less oil No can't No Nothin
2 2 saving name to g consu say g
family mption
size
4 25SC time brand suitable daily Heatin fast No No No Nothin
3 2 saving name to g heatin g
family g
size
4 30SC conve referre suitable daily Cookin less oil No No No Nothin
4 2 nience d to to g consu g
someb family mption
ody size
4 17L. conve brand feature almost Cookin fast No No No no
5 nience name of the daily g heatin proble
model g m
4 20PG time referre suitable almost Cookin less oil No No No no
6 2S saving d to to daily g consu proble
someb family mption m
ody size
4 20PG conve brand suitable daily Heatin less oil No No No no
7 3S nience name to g consu proble
family mption m
size
4 20SC conve referre suitable rarely Cookin less oil No No No Nothin
8 2 nience d to to g consu g
someb family mption
ody size
4 30SC conve brand suitable almost Cookin fast No No No no
9 2 nience name to daily g heatin proble
family g m
size
5 30SC conve brand suitable daily Cookin less oil No No No no
0 1 nience name to g consu proble
family mption m
size
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21. GRAPH BASED ON SURVEY REPORT
1. What is the reason to buy MWO?
What is the reason to buy MWO?
Healthy cooking
36% Time saving
30%
energy saving
0%
Convenience
34%
Out 50 customers 15 said time saving, none said about energy saving, 17 said convenient and 18
said healthy cooking.
INFERENCE: - People are becoming more health aware and have found the option to cook in less
time. Also second major percentage of consumers feel MWO is convenient because it saves their
time and extra effort. People are becoming more professional and they find this machine is helpful
to save their time.
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22. 2. What is the reason to buy IFB?
What is the reason to buy IFB?
Husband choice
0%
Aesthetics
16%
Referred to Brand name
some body 64%
20%
Out of 50 customers, 32 said brand name, 10 said referred by somebody, 8 said aesthetics
INFERENCE: - 64% trust on brand, 20% believes in others advice and 16% buy because of look.
Word of mouth plays great role to affect the consumers’ buying decision. People’s perception is
greatly affected by brand name. They interpretate, expose, pay attention and integrate before
buying decision.
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23. 3. What is the reason to buy that particular model?
what is the reason to buy that particular model?
Gifted by some
body
14%
feature of the
model
24%
suitable to
suggested by
family size
shopkeeper
62%
0%
Out of 50 customers 31 said suitable to family size, 12 said feature of the model and 7 said gifted
by somebody.
INFERENCE: - Customers identify their need exactly then go for buying. Some customers select
some model on the basis of feature. Some consumers get in gift.
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24. 4. How often is MWO used?
How often is MWO used?
not using
6%
rarely
6%
Daily
50%
almost daily
38%
Out of 50 customers 25 said daily, 19 said almost daily, 3 said rarely and 3 said not using.
INFERENCE: - Consumers want to do anything conveniently. They are recognising the use of
machine fastly.
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25. 5. For what purpose is the MWO used?
For what purpose is the MWO used?
All the above
12%
Baking
4%
Heating
42%
Cooking
42%
Out of 50 customers 21 said heating, 21 said cooking, 2 said baking and 6 said all of the
Above.
INFERENCE: - Heating and cooking are most frequent work of kitchen. So 42% customers use MWO
for heating and 42% customers use for cooking. 12% consumers use it in cooking, baking and
heating. 4% customers use it in baking only.
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26. 6. Which feature do you like to use?
which feature do you like to use?
others
8%
easy to use
12%
fast heating
46%
less oil
consumption
34%
Out of 50 customers 23 said fast heating,17 said less oil consumption,6 said easy to use and 4 said
other things.
INFERENCE: - Fast heating is common and frequent need for daily life. Fast heating is liked by
maximum persons. Now a day due to hectic life schedule consumers want to take less oily foods.
MWO is able to cook in such condition. Some persons like MWO because it is convenient in use.
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27. 7. Which feature don’t you like?
which feature don't you like?
0%
yes
no
100%
Out of 50 customers all features have been liked by all.
INFERENCE: - Customers want to know what they don’t know. They don’t bother from non using
feature.
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28. 8. Which features are you lacking in your machine?
Which feature are you lacking in your machine?
egg boiling
6%
can't say
14%
tawa
bread/sattu Nothing
pratha 66%
14%
Out of 50 customer 7 said we can’t say,7 said tawa bread and sattu pratha,3 said egg boiling and
33 said nothing.
INFERENCE: - Customers feel the features provided are sufficient. Some need to have feature for
more common dish tawa bread/sattu pratha.
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29. 9. Would you like IFB to come with more colours? If yes please specify.
would you like IFB to come with more colours?If yes
please specify.
Yes
6%
No
94%
Out of 50 customers 47 said no and 3 said yes among of which 2 persons required maroon and 1
sky blue.
INFERENCE: - Customers needed machines of good quality and essential features, don’t need more
colours. Customers were satisfied from aesthetics.
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30. 10. What problem do you face while using a MWO?
What problem do you face while using a MWO?
Proper demo
given
4%
No problem
96%
Out of 50 customers 48 told no problem and 2 said about proper demo.
INFERENCE: - Customers take interest in learning new thing themselves after being guided once or
twice.
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31. CONSUMERS’ RESPONSE
SL Do Do you What is the Which Which factor Which type of MWO
No. you feel the barrier in brand influence would you like to
know need of buying of MWO you to buy purchase?
about this MWO? would MWO?
MWO? machine? you
prefer?
1 Yes Yes Awareness LG Brand name Convection
2 Yes Yes Absent of LG Brand name Convection
proper
demo
3 Yes Yes Absent of Samsung Brand name Convection
proper
demo
4 Yes Yes Price Samsung Brand name Convection
5 Yes Yes Price Samsung Brand name Convection
6 Yes Yes Price Samsung Brand name Grill
7 Yes Yes Price LG Brand name Grill
8 Yes Yes Price LG Brand name Convection
9 Yes Yes Price LG Price Convection
10 Yes Yes Price LG Price Convection
11 Yes Yes Price IFB Brand name Convection
12 Yes Yes Price IFB Quality Grill
13 Yes Yes Price LG Quality Grill
14 Yes Yes Price LG Quality Grill
15 Yes Yes Price LG Price Solo
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32. 16 Yes Yes Awareness LG Price Convection
17 Yes Yes Awareness IFB Quality Convection
18 Yes Yes Awareness IFB Price Convection
19 Yes Yes Awareness LG Brand name Solo
20 Yes Yes Convenience IFB Brand name Solo
21 Yes Yes Convenience IFB Brand name Solo
22 Yes Yes Convenience LG Performance Solo
23 Yes Yes Convenience IFB Brand name Grill
24 Yes Yes Absent of Others Quality Grill
proper
demo
25 Yes Yes Price LG Aesthetics Convection
26 Yes Yes Price Others Aesthetics Convection
27 Yes Yes Price Others Performance Grill
28 Yes Yes Price Samsung Performance Grill
29 Yes Yes Absent of IFB Brand name Grill
proper
demo
30 Yes Yes Awareness Others Brand name Grill
31 Yes Yes Awareness Others Performance Grill
32 Yes Yes Awareness IFB Performance Convection
33 No No Price Others Aesthetics Solo
34 Yes Can't say Price Others Aesthetics Solo
35 Yes Yes Price Samsung Performance Solo
36 Yes Yes Price Samsung Aesthetics Solo
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33. 37 No Can't say Awareness Samsung Brand name Grill
38 Yes Can't say Price Samsung Aesthetics Grill
39 No No Electricity Samsung Performance Convection
40 No Can't say Electricity Samsung Performance Convection
41 Yes No Electricity LG Performance Grill
42 No No Awareness LG Brand name Grill
43 No Yes Absent of LG Brand name Convection
proper
demo
44 Yes Can't say Electricity LG Brand name Convection
45 No No Electricity Others Brand name Convection
46 No Can't say Awareness Others Brand name Convection
47 Yes Can't say Awareness Others Brand name Grill
48 No Can't say Convenience Others Brand name Grill
49 No Can't say Convenience Others Brand name Solo
50 Yes Can't say Convenience Others Brand name Solo
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34. Scope of better market share of IFB MWO
Sample size = 50
Awareness about the product MWO
Awareness
No
20%
Yes
80%
Out of 50 people only 40 were aware about the product MWO and the rest 10 not aware about it.
The person who were aware had an average salary of Rs 35000/- and above per month .They were
much busy person.
INFERENCE: - Huge percentages of persons were aware about MWO. Some were not aware.
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35. NEED
NEED
Can't say
20%
No
10%
Yes
70%
Out of 50 customers 35 gave positive response that MWO saves time, energy, cooks healthy in
hygienic environment so this is need. 10 people said can’t say. Rest 5 wanted to finish their job
traditionally.
INFERENCE: - Large number of people feels the need of this machine. They need hygienic food in
less time conveniently.
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36. BARRIER
Absence of BARRIER
proper demo
10%
Electricity
10%
Price
46%
Convenience
14%
Awareness
20%
INFERENCE: - There was huge percentage of population who wanted to have MWO but higher
price and mode of payment prevent them to do so. Some feel the need of machine like MWO but
they were not aware about it. Some think electricity, some think absence of proper demo and
some think convenience is the reason.
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37. Customer preference of brand
Preference of brand
OTHERS
20%
LG
44%
IFB
16%
SAMSUNG
20%
Out of 50 people 22 liked LG,8 liked IFB,10 liked Samsung and 10 liked others.
INFERENCE: - LG is leader in MWO segment. Some preferred Samsung and some IFB. Some liked
others.
FINDINGS
After survey I found some facts from respondents:-
Brand awareness is very necessary.
Some said tawa bread can’t be made which is the prime part of meal.
Customers wanted more feature in machine.
Consumers liked to have more option before the selection of model.
Eighty percent customer was aware about this machine.
Most of the customers felt the need of MWO.
Price and lack of awareness were main barriers in buying MWO.
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38. SCOPE OF BETTER MARKET SHARE IN BIHAR
Graph and analysis
Sample size=50
Desired attributes
quality
10%
Desired attributes
Price
10%
Aesthetics Brand name
14% 50%
perfomance
16%
From this graph I can clearly interpret that customer first consider brand name, before buying
MWO followed by performance, aesthetics, price and quality.
INFERENCE: - At first People trust on brand and then think about performance, quality and
aesthetics.
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39. MOST PREFERRED TYPE OF MWO
Type of MWO
Solo
22%
Convection
42%
Grill
36%
From this graph it can be said that Convection model is more in demand. Solo type has less selling.
INFERENCE: - Convection is advance technology to resolve kitchen requirement. Convection
models have all three functions solo, grill and convection. Grill has fewer features. Solo has least
functions. So customers like convection more.
FINDINGS:-
From survey I came to know that most of the customers prefer LG and SAMSUNG for buying
MWO as they have created a good brand image in the minds of customers through sales
promotion, offers, advertisements ,services etc. Most part of customers wants to have convection
model.
CUNSUMERS RESPONSE ABOUT THE
FOLLOWINGS: -
SL NO. EXITING CUSTOMERS NEW CUSTOMERS
1 PRODUCT 80% customers are satisfied.34% 20% customers are
consumers said it is convenient. 30% satisfied.40% customers said
said it helps in time saving. it helps in healthy cooking.
2 FEATURE 42% consumers’ uses in heating. 42% 60% customers liked. 6% said
customers said it is well in cooking. there should be tawa Roti
10% said there should be egg boiling feature.
feature.
3 BRAND 64% customers trust on brand. 10% 16% customers trust on
knows it from net.40% customers brand. 15% customers got
knew from their relatives/friends. IFB on internet. 15% was
convinced by shopkeepers.
4 PRICE 80% customers are satisfied. 50% 60% customers are satisfied.
customers said price is more than 40% consumers said price is
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40. budget. very high. Some consumers
said MWO should be
available in instalment.
5 AFTER 96% customers are satisfied. 70% said 90% customers are satisfied.
SELL service boy comes on time. 40% needs 60% said IFB’s machine is
SERVICE cookery classes. very good in quality.
From Dealers’
SL NO. Location Which Which Which Which Are you
brand’s brand company's company satisfied
MWO is gives after sale gives more with
in good service is promotional pricing
demand? margin? good? offer? strategy
of IFB
MWO?
1 Patna LG LG LG Whirlpool No
2 Patna Samsung LG LG LG No
3 Patna LG Samsung Samsung Whirlpool Yes
4 Patna IFB IFB IFB IFB Yes
5 Patna Whirlpool Godrej Godrej Godrej Yes
6 Patna LG LG LG Whirlpool No
7 Patna Samsung Samsung Samsung Samsung No
8 Patna Samsung Samsung Samsung Samsung No
9 Patna LG LG LG Samsung No
10 Patna LG Samsung Samsung Whirlpool Yes
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41. GRAPH BASED ON DEALERS’ RESPONSE
Demand of brand of MWO
Demand
Whirlpool
10%
IFB
10%
LG
50%
Samsung
30%
From this I may say that in a shop 50% customer demands LG and 30% SAMSUNG.
INFERENCE: - LG is leader in MWO segment. Thirty percent customers demand Samsung and 10
percent demand IFB and Whirlpool each.
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42. MAXIMUM MARGIN IN BRANDS
Margin
Godrej
10%
IFB
10%
LG
40%
Samsung
40%
INFERENCE: - LG and SAMSUNG are giving almost equal profit margin .Out of 10 dealers two liked
profit margin of IFB and Godrej one for each.
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43. AFTER SALE SERVICE
After sale service
Godrej
10%
IFB
10% LG
40%
Samsung
40%
LG and Samsung are providing very good service. IFB and Godrej’s service is also good.
INFERENCE: - LG and SAMSUNG are very good in after sale service. Out of 10 dealers two liked the
service of IFB and Godrej ,one for each.
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44. PROMOTIONAL OFFERS
Promotional offer
Godrej
10%
IFB
10%
Whirlpool
40%
SAMSUNG
30% LG
10%
Whirlpool gives the best offer. Samsung also gives very attractive offers. LG, IFB and Godrej are
also well in promotional offers.
During last Diwali –LG was giving three years warranty on complete body. Samsung was giving
cash discount, DVD, weekly draw etc offer through scratch card. Whirlpool was giving travelling
coupon, gift coupon etc through scratch card. IFB was giving 4 years warranty on cavity and
magnetron, more accessories etc through scratch card. Godrej was giving pair wrist watch.
INFERENCE: - Whirlpool and Samsung are paying more attention on promotion. IFB, LG and Godrej
are also promoting their products in good way.
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45. PRICING STRATEGY OF IFB MWO
Price strategy
No
50% Yes
50%
OUT of 10 dealers, five were satisfied and five were not satisfied.
INFERENCE: - Fifty percent dealers were satisfied.
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46. SERVICE
LG is providing the fastest service. Its MIS (management information system) is very good. When
a product is sold, a message reaches service boy’s no. about the address of installation and demo
of sold product. Service boy arrives there simultaneously with products. If we talk about Patna it
has been divided into five parts. One part is under one service person. So service is very fast.
SAMSUNG is also giving good service. But this is not like LG. It has also divided Patna in four
segments. Each part is cared by separate person.
This management is used for customer satisfaction. Also customer gets satisfied from the service.
Godrej and whirlpool are not providing so much satisfied service.
IFB’s service persons move to the required location from single address. It takes much time to
reach the destination. Demo is given till customers’ satisfaction/requirement. IFB’s service persons
are veteran. Its customers are satisfied from the service. Service is well.
DEALERS’ SATISFACTION
LG
It has different DP and MRP. It allows CSR to bargain on price. Again if customer is not satisfied,
second discount is given by shopkeeper. In spite of such discounts dealers get good profit margin.
This is actually psychological. But customer gets satisfaction.
SAMSUNG
Same thing is provided by Samsung.
GODREJ
It also gives the same facility for dealer.
WHIRLPOOL
It also provides good profit margin.
IFB
It has same DP and MRP. It does not allow seller for multi stage discount.
There is very less profit margin for seller compared to LG and SAMSUNG.
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47. SWOT ANALYSIS OF IFB MWO
STRENGTH
Good product quality
Durability/Performance
Good after sale service
Brand equity
Competitive price
Customers satisfaction
Good research and development team
WEAKNESS
Very less brand awareness
Dealers’ less interest to sell IFB MWO
Products are not available at all dealers’ counter.
Total no number of different models are very less than competitors.
Products range is fewer than competitors.
Number of auto cook menu is less than competitors.
Number of features is less than competitors.
Less sales promotion
Less advertisement
OPPORTUNITY
Trust on valued and exiting customer
Talk to exiting customer to solve their relevant problem (by calling/sms).
New area of Bihar is being electrified.
Per capita income of Bihar is increasing.
People are becoming more health aware.
People want to cook conveniently in less time.
MWO is being gifted in marriage in remote area.
People belonging to rural parts of Bihar are changing their standard of living.
Consumers want to cook hygienically.
Customers want to take natural taste.
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48. THREATS
Competitors low price strategy in the same segment
Aggressive and effective promotional marketing initiatives used by competitors like TVP ads,
hoardings etc
Preference of customers and dealers of their brands like LG, SAMSUNG etc over IFB
Competitors are providing more models and design.
Competitors brand awareness is more.
Competitors have more capital strength.
INFERENCE
From research study and responses following are the concluding points:-
The after sale service of IFB is good and customers are satisfied.
IFB is perceived as premium brand by customers and Dealers.
In Patna (Bihar) LG is most preferred brand by customers and dealers.
IFB has not created good brand awareness in the mind of customers.
Dealers of IFB products are satisfied with the pricing strategy of MWO of IFB.
There are some Dealers in Patna who are not selling IFB MWO. Dealers who are selling IFB
MWO are not having so much number of different models as of LG and SAMSUNG in
display.
Exiting customers are satisfied from feature, quality and service. So they do the job of
advertiser/adviser for new consumers through word of mouth. New consumers trust on
brand/quality/word of mouth/feature etc. Dealers are intermediary between company
and customers who fulfil the demand of customers and also convince to the consumers
about products. Dealers are rational persons.
LIMITATIONS
There were limitations that I had to face while doing this project. They are as follows:-
My survey was confined within Patna so the conclusions are not applicable to entire state.
My sample size was limited to 50 customers so sampling error might occur.
I had limited time for doing the survey, preparing report and completing my projects.
48 | P a g e
49. SUGGESTION
The various suggestions that I would like to give are as follows:-
The brand promotional technique like canopies ,activities, free service camps, stage shows
etc should be done more regularly to improve brand awareness.
Create new Dealers to increase availability of IFB products at various places in Patna and rest
Bihar.
Brand promotional relation like personal relation, direct contact with customers using
distribution channel should be done.
Stores should be improved in such a way that customers mind can be captured and sales
can be promoted.
All existing customers should be wished by sending card on the eve of special day.
Customers should be sent sms /mail on different festival.
There must be free cookery classes.
Marriage bureau might be used as sales promotional person. At the time of marriage, people
give MWO in gift.
Big city should be divided into small parts; each part’s responsibility might be given to
individual person. This should be done to ease the work.
When We conduct an activity under apartment, a quiz contest should be organized for
Children or free gift should be given to them. This may encourage parents to participate in
activity. This may help to achieve the objective.
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