project on ifb ind ltd. by ranbir kumar singh
DESCRIPTION
Project Details: -Project Description -Research Methodology -Data analysis & Interpretation -Finding -Conclusion and methodology -SWOT Analysis of IFB Home appliances -Limitation -QuestionnairesTRANSCRIPT
[1]
To understand prepurchase decision making process
for IFB products(WM and MWO)
Prepared by:
Ranbir Kumar Singh PGDM (2011-2013)
Roll No:-111309
[2]
Declaration Certificate
I Ranbir Kumar Singh, hereby declare that this project titled “To understand pre purchase decision making process for IFB products (WM, and MWO)” with special reference to IFB industriesLtd, Patna. It is based on original project study conducted by me under the guidance ofhead of department, Mr. Deepak Prakash (Branch Manager, IFB Industries Ltd, Patna),Miss TriptiJha (Business Manager, Domestic home appliances, IFB Industries Ltd, Patna) and Mr. Ashish Mishra (Business Manager, Commercial appliances and Institutional sales, State of Bihar, IFB Industries Ltd, Patna I further declare that this project has not previously formed the basis of the award of any degree or Diploma or similar title of recognition. Place: Patna Date: (Ranbir Kumar Singh)
[3]
Certificate of approval
It is certified that this dissertation titled “To understand pre purchase decision making process for IFB products (WM, and MWO)” (with reference IFB Industries Ltd, Patna)” is based on an original project study conducted by Ranbir Kumar Singh of 3rd Trimester of PGDM under my guidance. He has attended the required sessions held. This project report has not formed the basis of the award of any degree / diploma by University or Institutions. Place: Patna DATE:-
[4]
Acknowledgment
I would like to express my profound gratitude to all those who have being instrumental in preparation of my project report. This project would not have been possible without the support of many people. I would like to thanks head of department, Mr. Deepak Prakash (Branch Manager, IFB Industries Ltd, Patna for his support and help. I would like to say thanks to my guide,Miss TriptiJha (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)for her silent and meaningful guidance towards the career development. Who impressed me with his dedication and sincerity to the subject of Marketing Management? Last but not the least my special thanks to my Parents and family members who supported me and my dear friends who encouraged me.
[5]
Content Page
Serial No. 1 Project Title Page No – 1
Serial No. 2 Declaration Certificate Page No – 2
Serial No. 3 Certificate Approval Page No – 3
Serial No. 4 Acknowledgment Page No – 4
Serial No. 5 Content Page Page No – 5
Serial No. 6 Objective of study Page No – 6
Serial No. 7 Introduction Page No – 7 to 8
Serial No. 8 Company Profile Page No – 9 to 10
Serial No. 9 Project Description Page No – 11to 12
Serial No. 10 Research Methodology Page No – 13 to 14
Serial No. 11 Response of 50 customer Page No –15 to 20
Serial No. 12 Data analysis & Interpretation Page No – 21to 54
Serial No. 13 Finding Page No – 55to 56
Serial No. 14 Conclusion and methodology Page No – 57 to 58
Serial No. 15 SWOT Analysis of IFB Home appliances
Page No – 59 to 61
Serial No. 16 Limitation Page No – 62
Serial No. 17 Questionnaires Page No – 63to 68
Serial No. 18 Bibliography Page No – 69
[6]
Objective of study
To identify buying pattern of fully automatic washing
machine & microwave oven
To evaluate the alternative preferences of the customer.
To identify how price, feature, service affect sales of
WashingMachine
To study responsible factor to increase sales of Washing
Machine and Microwave Oven in Bihar market
To identify the scope of the Washing Machine and
Microwave Oven
[7]
Introduction
IFB 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 HienrichSchmid AG of Switzerland. The company got listed on the BSE in 2000. Today, the company manufactures fine Blank components such as straighteners, 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 andIIhas(Goa), Bhopal (Madhya Pradesh) and Bangalore. Its registered and corporate office is located at Kolkata. Established player in home appliances segment IFB Industries Limited has an established market position in the home appliance segment. The company manufactures home and kitchen appliances such as washing machines, washer dryer, laundry dryer, Dishwasher, Microwave oven, hobs, chimneys and other cooking appliances. In FY10, the home appliances segment contributed almost 82% of revenues. The company also manufactures engineering products like fine blanked components, cushion plate for seat recliners, K12 tongue for seat belt assembly, door latches, gear shift selector for transmission, gear shifter for transmission, rotor segment for aircrafts, plate valve for compressors, gears, etc for two-wheelers. Clients for its engineering products include Maruti Suzuki, Ford India, Fiat India, Toyota Kirloskar Motors, Lucas
[8]
TVS, Brakes India, Rane TRW, Bosch Chasis, TVS Motor Co, Yamaha Motorcycles, Honda Motorcycles & Scooters India, Royal Enfield, Hero Honda, L&T, SKF, etc. In FY10, fine blanks and engineering operations contributed 18% to total revenue in FY10. Strengthening its reach in tier 2 and tier 3 towns IFB Industries Limitedis strengthening its distribution network in tier 2 and tier 3 towns and focusing on marketing programmes for semi-urban and rural markets. The company has a 24-hour tele-helpline service for queries. It delivers to over 1,600 locations in India.
[9]
Company Profile
Company Name
Indian Fine Blanking Industries Limited
Head Office Address
IFB Industries Head Office Address:
Flat No.IND-5 Sector-1East Kolkata Township
Kolkata: 700088
West Bengal, India.
IFB Industries Phone Number: (33) 39849524 39849475
IFB Industries Website:www.ifbbangalore.com
Company Status
IFB Industries Limited is a US$ 250 million diversified
business house having interests in appliances, automotive
components, alcohol and marine foods. Our businesses enjoy
leadership status and in most product categories have a
dominant market share. The businesses are built on the ethos
of quality, technology and customer focus as well as financial
prudence. The “IFB” brand enjoys very strong equity in the
minds of the customers and is amongst the most desired
brands in India.
[10]
The businesses are growing at an average of about 30% and
are on an expansion spree leading to requirement of
knowledgeable people in the following areas:
Appliances
Front loading washing machines
R&D
Quality
Purchase
Manufacturing
Auto Components
Fine Blanking
Tooling
Design
Process Engineering
Quality & Manufacturing
Seat Mechanisms
Manufacturing & Quality
Window Lifter
Manufacturing & Quality
Automotive Motors – Window Lifter motors
R&D
Manufacturing &Quality
[11]
Project Description
Consumer Decision Making Processes
By Ken Matsuno
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.i
Such a view is reflected in the stage model of a typical buying
process (often called the consumer information processing
model) depicted in Figure.
Problem Recognition
Information Search
Evaluation and Selection of Alternatives
Decision Implementation
Post-purchase Evaluation
[12]
Figure 1 the Consumer Information Processing Model
Source: Adopted from Kotler (1997), Schiffman and Kanuk
(1997), and Solomon (1996)
In this model, the consumer passes through five stages:
problem recognition, information search, evaluation and
selection of alternatives, decision implementation, and post-
purchase evaluation.
[13]
Research Methodology
Meaning
Research is an intensive and purposeful search for knowledge
and understanding of social and physical phenomenon.
Research is scientific activity undertaken to establish
something, a fact, a theory a principle or an application. One
can also define research as a scientific and systematic search
for pertinent information on a specific topic. Infect research is
art of scientific investigation. According to John W.Best
“Research is the systematic and objective analysis and
recording of controlled observation that may lead to
development of generalization, principles or theories resulting
prediction and possibly ultimate control of events”
Source of Data Collection
1. Primary Data
In primary data collection, you collect the data yourself using methods such as interviews and questionnaires. The key point here is that the data you collect is unique to you and your research and, until you publish, no one else has access to it.
There are many methods of collecting primary data and the main methods include:
questionnaires
interviews
focus group interviews
[14]
observation
case-studies
diaries
critical incidents
Portfolios
2. Secondary Data In secondary data collection, the company uses information from other sources that has already been researched by somebody else. Instead of carrying out research yourself like in primary research, you simply use somebody else's results that have already been collected which have been carried out in similar ways to how you would have carried it out.
There are many methods of collecting secondary data and the main methods include:
Websites
Other companies reports
Websites etc.
I have collected both type of data, primary data and secondary data (provided by company). I relied on the data given by respondents through questionnaire designed by me.
[15]
Response of 50 Customers through personal interviews
No of respondent
How did you know about IFB?
Are you satisfied with services and product?
Do you know about fully automatic IFB washing machine?
Why did you buy Front/Top Loading machine?
Do you use any other IFB product?
Which other company's product have you seen in the dealer's shop?
Which company's of MWO do you use?
11 1 TV Add Yes Not Interested
No Samsung Non user
2 Dealer Yes No Not Interested
No Samsung, LG Non user
3 News Paper Yes Best Feature
No Not Remember Non user
4 Brand Loyal (All family use IFB)
Yes (fuse) vibration
Yes Brand Loyal No Samsung Non user
5 Existing customer of WM
YES Want (TROLLY + cover)
Yes Best Feature
WM Godrej Non user
6 Exchange offer (Internet)
Not Satisfy (after many call no Response from service side)
Yes No option (he has to exchange his machine)
No Did not see (He got home delivery)
Non user
7 Existing customer of WM (since1999)
Yes Yes Best Feature
No Not interested Non user
8 Dealer Can’t say No Best Feature
Evening Non user
9 Friend Yes Yes Brand Name No Not Remember Non user
10 Existing customer of WM
Not Satisfied (service person should visit in every two month)
Yes Best Feature
Yes LG, Samsung IFB
11 Dealer Yes No Best feature (Suggested by Brother )
No Not interested Non user
[16]
12 Existing customer of WM
Yes
Yes
Best Feature, less water Consumption
No Whirlpool Non user
13 Dealer Yes No Brand Name Yes LG, Samsung (Dealer try to sell other company's product)
IFB
14 Existing customer of WM
Yes Yes Best Feature No Not interested Non user
15 His Daughter(His all family members are user of IFB Product)
Yes Yes Best feature (Suggested by Daughter, Son, )
No Samsung Non user
16 Suggested by Dealer
Yes No Best feature Yes LG, Samsung IFB (25SC3)
17 Dealer Yes No Microwave User
No Bajaj, Kenstar, LG
IFB
18 Dealer Can't say (till now, I didn't need any services)
No Best feature known by friend
No I see only IFB Non user
19 Dealer (lite corner)
Yes No Microwave User
Yes Not Remember IFB
[17]
20 Suggested by Friend
Yes Yes Best feature, latest technology
No LG Non user
21 Smart customer
Yes Yes Best feature No Not interested Not Interested
22 Internet Yes No Microwave User
Yes Home delivery IFB
23 Suggested by Relative
Not satisfied (service person told that I will provide you trolley, cover after one week and till now he did not come )
Yes Yes Yes (Argo 6512R)
Not interested IFB
24 suggested by Relative (Want to buy Microwave Oven)
Yes Yes Best feature No LG, Samsung Non user
25 Existing Customer ( He suggested so many friend to buy IFB Product)
Yes Yes Best quality, No Not Interested( only IFB)
Non User
26 Internet Yes Yes Best quality, Microwave oven
Whirlpool IFB
27 Suggested by Relative (they are using for 20 Year)
Yes Yes Brand loyal Best quality, (In relation they are using for 20 year with good performance )
No Samsung, LG Non user
28 Suggested by dealer (Elite)
Yes Yes Best quality No Kenstar, LG, Samsung
Non user
[18]
29 Suggested by friend
Yes Yes Best feature No Only IFB Non user
30 Existing customer of IFB WM(4th IFB washing machine)
Yes Yes Best quality No Buy through exchange offer
LG, Samsung
31 Existing customer of IFB WM(For ten year)
Yes Yes Best quality No Videocon, Samsung, LG, whirlpool
Non user
32 Friend Yes Yes Microwave User
Washing machine
LG IFB
33 Suggested by brother
No (During installation behaviour of service person is not good)
Yes Best feature No Whirlpool, LG Non user
34 Suggested by Relative
Yes Yes Services, Best feature
Washing machine
LG, Samsung IFB
35 Suggested by daughter
Yes No Best feature Yes LG IFB
36 Dealer Can't say (Till now, I didn't need any service)
Yes Microwave User
Yes Whirlpool, Samsung
IFB
[19]
37 Suggested By Other family member
Yes No Best feature No LG Non user
38 Internet No (During installation behaviour of service person was not good, they were not installing in proper way)
Yes Best feature (Willing to buy for 20 Year)
No Whirlpool, LG LG
39 Suggested by Son (he is user of IFB WM)
Yes Yes Best feature (Suggested by Son)
No LG Non user
40 Suggested by Friend ( He is user of IFB WM)
Yes Yes Best Brand No Not interested in other Product (Only I Had to buy IFB washing machine)
Non user
41 Suggested by relative (they are user of IFB WM)
Yes Yes Best feature No Whirlpool Non user
42 Suggested by Friend ( He is user of IFB WM)
Can't Yes Best Brand No Not interested in other Product (Only I Had to buy IFB washing machine)
Non user
43 Internet Yes Yes Best product, Brand name
No Home Delivery Non user
[20]
44 Suggested by Dealer
Can't say (Till now, I didn't need any service)
No (I saw IFB washing at dealer shop)
Best product (Suggested by Dealer)
No LG, Samsung, Whirlpool
Non user
45 Dealer Can't say (Till now, I didn't need any service)
No (I saw IFB washing at dealer shop)
Best product (Suggested by Dealer)
No Not remember Non user
46 Suggested by Dealer
Yes Yes Best quality No LG, Samsung Non user
47 Friend Yes Yes Best product No LG Non user
47 Existing customer of IFB WM(4th IFB washing machine)
Yes Yes Best quality No Whirlpool, LG, Samsung
48 Dealer Can’t say No Best Feature Yes Evening Non user
49 Dealer Yes No Best Feature No Bajaj, Kenstar, LG
IFB
50 Suggested by Relative
Yes Yes Services, Best feature
Yes LG, Samsung IFB
[21]
Data Analysis & Interpretation
Consumer Pre purchase Behaviour Survey
How people take purchase decision while
purchasingWashing Machine?
Graph and Analysis
Sample size =50
How customers know about IFB Washing Machine?
Out of 50 sample size 23were aware about the product through
Friend & Relative, 13 through dealer, 9 are existing customer, 5
through internet.
Inference Word of mouth plays significant role in advertisement, large number of Customers trusts on dealer’s word, Existing customers spread the name of the company and Internet also makes people known about the brand.
Relative & Friend(existing customers of
IFB)46%
Internet10%
Dealer26%
Existing Customer
18%
Customers Response
[22]
Pie-Chart and Analysis
Sample size =50
How many customers are satisfied with services?
Out of 50 sample size 80% people are satisfy with services,
10% can’t say because till now they didn’t need any services
and rest 10% people are not satisfied with the services due to
irrelevant behaviour of services person during installation.
Inference
IFB provide best services to their customers after sales,we
should also providesoft skill and technical training to our service
persons;so thatwe can reduce complain against services
related to their soft skill and technical knowledge.
Can't Say10%
No10%
Yes80%
How many % of Customers are satisfy with services
[23]
Pie-Chart and Analysis
Sample size =50
Awareness of IFB product among consumer
Out of 50 samples size 42 customers are aware about the
product from different source like friend, relative, Internet, and 8
customers first see at the dealer shop.
Inference
Before purchasing 42customers were aware about IFB product
and word of mouth play important role for IFB products
promotion.
No16%
Yes84%
Awerness of IFB Washing Machine
[24]
Pie-Chart and Analysis
Sample size =50
Attributes of buying IFB Washing Machine
Out of 50 samples size 25 Customers buy due to Best Feature,
18 Customers due to Best Quality, and 5 Customers is Brand
loyal and 2 Customers can’t say.
Inference
Most of the customers take decision on the basis of feature,
also customers believes on quality and some are brand loyal.
Best Feature52%
Best Quality36%
Brand Loyal4%
Can't Say8%
Customers Response
[25]
Pie-Chart and Analysis
Sample size =50
What percent consumer use only washing and washing
machine + Microwave oven
Out of 50 samples size 72% Customers use single product and
28% Customers use two products (In 28% customers 24%
customers use IFB washing machine, microwave oven and 4%
IFB washing machine, other microwave oven).
Inference
Due to best quality 24% customers use IFB washing machine
and microwave oven.
Only washing machine
72%
Washing machine + IFB
Microwave oven24%
Washing machine +
Other Microwave
oven4%
Customers Response
[26]
Pie-Chart and Analysis
Sample size =50
Other company’s products available at dealer place
Out of 50 samples size LG available at 50% dealer, Samsung
at 26% dealer, whirlpool at 16%dealer, Videocon at 8% dealer.
Inference
Demand of LG is very good in marketso dealers want to keep
more LG product other than Samsung, whirlpool, Videocon.
LG50%
Samsung26%
whirlpool16%
Videocon8%
Customers Response
[27]
Pie-Chart and Analysis
Sample size =50
Mode of purchasing while buying new washing machine
Out of 50 samples size 90% customer purchase through dealer
10% customer through internet.
Inference
45Customers purchase through dealers so IFB shouldincrease their number of dealer to increase availability of IFB product.
Internet10%
Dealer90%
Customers Response
[28]
Response of 30 Customers through personal interviews
(for Washing machine)
Customer
Which brand (washing machine) do you want to use?
Which attributes do you look for purchasing washing machine?
Which colours of washing machine do you prefer most?
Which type of Washing Machine do you like to use?
Which attributes Influence your purchasing decision for washing machine?
Are you aware about Fully Automatic Top Loader/ Front Loader IFB washing machine?
How do you take purchase decision while purchasing washing machine?
To what extent warranty period and other sales services effect your purchase decision?
Which mode of purchasing would you like to adopt to buy new washing machine?
Who is the decision maker to buy washing machine?
Who is user of washing machine in your family?
1 MdFiroz
IFB Quality
Silver Top Loading
Steam Wash
Yes Own Decision
Very Much
From Dealer
Self Wife
2 Santos Kumar
LG Feature
Silver Top Loading
Steam Wash
Yes Own Decision
Very Much
From Dealer
Wife Wife
3 Md Jawed
Whirlpool
Quality
Red Top Loading
Steam Wash
No Peer Suggestion
Very Much
Exclusive Showroom
Wife Wife
4 Ramesh
LG Brand White Top Loading
Steam Wash
No Own Decision
Very Much
Exclusive Showroom
Self Wife
5 Rajnesh Kumar
LG Feature
White Front Loading
Steam Wash
No Peer Suggestion
Doesn't Matter
Exclusive Showroom
Wife All family
6 Neeraj
Whirlpool
Quality
White Semi Automatic
3D wash System
No Brand Awareness
Doesn't Matter
From Dealer
Self Self
7 Vinod Kumar
Videocon
Feature
Silver Top Loading
Air Bubble Wash
No Own Decision
Doesn't Matter
Exclusive Showroom
Wife Wife
8 P Samsu Qualit White Top Steam No Brand Till Exclusive Self Wife
[29]
Sinha
ng y Loading
Wash Awareness
Some Extent
Showroom
9 Jitendra
Whirlpool
Feature
White Semi Automatic
Steam Wash
Yes Own Decision
Very Much
Exclusive Showroom
Self Wife
11 Sujata
LG Quality
White Front Loading
Foam Control
Yes Own Decision
Till Some Extent
From Dealer
Self Self
12 Miss Verma
IFB Feature
White Front Loading
Steam Wash
Yes Peer Suggestion
Till Some Extent
From Dealer
Self Self
13 RajeewRanjan
IFB Quality
Silver Front Loading
Air Bubble Wash
No Peer Suggestion
Very Much
Exclusive Showroom
Wife Wife
14 Rajesh Ranjan
IFB Brand Silver Front Loading
Air Bubble Wash
Yes Own Decision
Very Much
Exclusive Showroom
Self Wife
15 Smit Kumar
Samsung
Brand Red Top Loading
Air Bubble Wash
No Own Decision
Very Much
From Dealer
Self Wife
16 Ravi LG Quality
White Front Loading
Steam Wash
Yes Peer Suggestion
Till Some Extent
Exclusive Showroom
Wife Wife
17 Amit Samsung
Feature
Silver Front Loading
Air Bubble Wash
Yes Brand Loyalty
Doesn't Matter
Exclusive Showroom
Self Wife
18 Bhupendra Kumar
LG Quality
Red Top Loading
Steam Wash
No Own Decision
Very Much
Internet Wife Wife
19 Nitin Kumar
Whirlpool
Brand Red Semi Automatic
Steam Wash
No Own Decision
Very Much
Exclusive Showroom
Wife Wife
20 Jinat LG Brand Silver Top Loading
3D wash System
No Own Decision
Very Much
Exclusive Showroom
Self Daughter
21 Sarita
Samsung
Quality
White Front Loading
Steam Wash
Yes Brand Awareness
Till Some Extent
Internet Mother
Self
22 Rohit Kumar
LG Feature
White Top Loading
Air Bubble Wash
Yes Own Decision
Till Some Extent
Exclusive Showroom
Self Self
23 ShuvamKumari
IFB Feature
Silver Front Loading
3D wash System
No Own Decision
Very Much
Exclusive Showroom
Mother
Self
[30]
24 Suresh Kumar
Whirlpool
Quality
Silver Top Loading
Steam Wash
No Peer Suggestion
Very Much
Exclusive Showroom
Self Self
25 Shelendra Kumar
Whirlpool
Feature
Silver Front Loading
Steam Wash
Yes Brand Loyalty
Very Much
Exclusive Showroom
Wife Wife
26 Anita Devi
LG Quality
White Top Loading
Steam Wash
No Peer Suggestion
Very Much
From Dealer
Wife Wife
27 Arvind Kumar
Samsung
Brand Silver Top Loading
Steam Wash
No Own Decision
Till Some Extent
From Dealer
Self Self
28 Father
LG Brand Silver Top Loading
Air Bubble Wash
Yes Own Decision
Very Much
Exclusive Showroom
Wife Daughter
29 Ajay Kumar
LG Quality
Silver Top Loading
Air Bubble Wash
Yes Peer Suggestion
Till Some Extent
From Dealer
Self Wife
30 Denesh Kumar
Samsung
Brand White Top Loading
Steam Wash
No Peer Suggestion
Till Some Extent
Exclusive Showroom
Self Wife
[31]
Data Analysis & Interpretation
Consumer pre purchase Behaviour Survey
How people take decision to purchase Washing Machine?
Pie-Chart and Analysis
Sample size =30
Customer’s preference of brand
Out of 30 respondents 36% have shown interest in purchasing
Washing machine of LG, 20% of Samsung, 20% of Whirlpool,
17% of IFB and rest 7% of Videocon.
Inference
Most of the people are aware about LG, Samsung, and
Whirlpool andCustomers are less aware about IFB and others.
36%
20%
20%
17%
7%
Customers Response
LG
Samsung
Whirlpool
IFB
Videocon
[32]
Pie-Chart and Analysis
Sample size =30
Desired attributes while buying washing machine
While buying a washing machine 10 customers go for Quality, 8
customers go for Feature, 7 Customer go for Brand, and rest 5
go for price.
Inference
While purchasing washing machine most of customers look for
Quality then they think about feature,brand and price.
23%
27%33%
17%
Customers Response
Brand
Feature
Quality
Price
[33]
Pie-Chart and Analysis
Sample size =30
Customer’s preference of colour
Out of 30 respondents 12 customers prefer white colour, 11
prefer silver colour, 4 white and rest prefer gray colour.
Inference
White and Silver colours are most preferable colour among
customers.Red and gray is liked by less no of customers.
Pie-Chart and Analysis
40%
37%
13%
10%
Customers Response
White
Siver
Red
Gray
[34]
Sample size =30
Type of washing machine prefer to use
Inference
Top loader washing machine is liked by most of the customers
because it is more convenient in use andless no of customers
liked front loader and semi-automatic.
Pie-Chart and Analysis
53%
10%
37%
Customers Response
Top Loader
Semi Autometic
Front Loader
[35]
Sample size =30
Attributes which influence purchase decision
Here steam wash is most preferable attributes which influence
18 customers purchase decision then air bubble wash influence
8 customer decisions after that 3D wash and foam control
influence purchase decision.
Inference
Most of customers want to have steam wash feature because
Baby cloths, kitchen clothscan be easily washed by steam
wash feature, Customers also liked air bubble wash but 3D
wash is liked by very less customers.
Pie-Chart and Analysis
60%
27%
10%
3%
Customers Presponse
Steam Wash
Air Bubble
3D Wash
Foam Control
[36]
Sample size =30
Awareness about fully automatic top loader/front loader IFB
washing machine
Out of 30 respondents 16 customers are aware about IFB fully
automatic washing machine and 14 customers are not aware.
Inference
More than 50% customers are aware about IFB washing
machine, large numbers of customers who want to buy washing
machine, they don’t know about IFB, so IFB needs to increase
product awareness.
Pie-Chart and Analysis
53%
47%
Customers Response
Yes
No
[37]
Sample size =30
Buying decision while purchasing washing machine
Out of 30 respondents 15 customers Purchase through own
decision, 9 through peer suggestion, 3 due to brand awareness
and rest 3 due to brand loyalty.
Inference
More than 50% customers take self decision,large number of
customer believes on word of mouth and some believes in the
brand name.
Pie-Chart and Analysis
Own Decision52%
Peer Suggestion31%
Brand Awarnees
10%
Brand Lotalty7%
Customer Response
[38]
Sample size =30
Place of purchasing
Here 15customers’ wants to purchase to washing machine
through exclusive showroom, 10customer through dealer and 3
through internet and rest 2 customers want through retailer
Inference
50% customers wanted to purchasefrom exclusive showroom
because there is more options for selecting a product, some
wanted to purchase from dealers’ point because Dealers might
provide in less price, and some liked to buy from retailer and on
net.
Pie-Chart and Analysis
50%
33%
10%
7%Customers Response
Exclucive Showroom
From Dealer
Internet
Retailer
[39]
Sample size =30
How warranty period affect sales of washing machine
While purchasing washing machine 17 customer says warranty
period affect very much, 9 customer says till some extant and 4
customer says warranty period doesn’t matter for me.
Inference
Most ofcustomersbelieve in warranty because maintenance
cost is very costly, some believe in warranty for some extent
and some think it does not matter.
57%
30%
13%
Customers Response
Very Much
Till Some Extent
Doesn't Matter
[40]
Pie-Chart and Analysis
Sample size =30
Decision maker to buy washing machine
While purchasing washing machine 16 customers take decision
through self, 12 customers take decision through wife and
3customers take purchase decision through mother.
Inference
At the time of purchasing more than 50% customers take self-
decision, 40%customers’ decision is affected by wife and in
some cases mother takes decision.
Pie-Chart and Analysis
Sample size =30
53%40%
7%
Customers Response
Self
Wife
Mother
[41]
User of washing machine
Inference
It has observed that in 60% cases wife is user,27% of
customers liked to use it by self,in some cases it is used by
daughter and other family members.
Response of 30 Customers through personal interviews
(Microwave Oven)
60%
27%
6%
7%
Customers Response
Wife
Self
Daughter
All Family
[42]
S.No
Customer
Which brand (Microwave oven) do you want to use?
Which attributes do you look for purchasing washing machine?
Which colours of washing machine do you prefer most?
Which type of Washing Machine do you like to use?
Which attributes Influence your purchasing decision for washing machine?
Are you aware about Fully Automatic Top Loader/ Front Loader IFB washing machine?
How do you take purchase decision while purchasing washing machine?
To what extent warranty period and other sales services effect your purchase decision?
Which mode of purchasing would you like to adopt to buy new washing machine?
Who is the decision maker to buy washing machine?
Who is user of washing machine in your family?
1 Jinat Godrej
Brand Silver Convection
Healthy Cooking
No Brand Awareness
Very Much
Exclusive Showroom
Self Wife
2 Sarita
Samsung
Quality
Black Convection
Cookery classes
No Own Decision
Very Much
Exclusive Showroom
Mother Wife
3 Rohit Kumar
LG Feature
Black Grill Healthy Cooking
Yes Peer Suggestion
Very Much
Internet Self Self
4 Arvind Kumar
Samsung
Brand Silver Convection
Cookery classes
No Own Decision
Doesn't Matter
From Dealer
Self Self
5 Ram Kishor
IFB feature
Silver Convection
Start-Up Kit
No Own Decision
Very Much
Exclusive Showroom
Self Self
6 Umesh Sharma
IFB Quality
Black Convection
Start-Up Kit
No Own Decision
Very Much
Exclusive Showroom
Self Self
7 Kumar Vivek
Samsung
Quality
Black Convection
Healthy Cooking
Yes Brand Awareness
Till Some Extent
Exclusive Showroom
Wife Self
8 Pramod Kumar
Whirlpool
Feature
Black Grill More Auto Cook Menu
Yes Peer Suggestion
Very Much
Exclusive Showroom
Wife Wife
9 Archna
LG Quality
Red Grill Healthy
No Own Decision
Very Much
From Dealer
Self Self
[43]
Cooking
10 Hrish Godrej
Feature
Black Solo Start-Up Kit
No Own Decision
Doesn't Matter
From Dealer
Wife Wife
11 ShuvamKumari
IFB Quality
Silver Grill Cookery classes
No Own Decision
Very Much
Exclusive Showroom
Self Wife
12 Suresh Kumar
Godrej
Brand Silver Convection
Cookery classes
No Peer Suggestion
Very Much
Exclusive Showroom
Wife Self
13 Shelendra Kumar
Samsung
Brand Red Solo Healthy Cooking
Yes Own Decision
Very Much
From Dealer
Self Wife
14 Miss Verma
LG Quality
Black Convection
Start-Up Kit
Yes Own Decision
Till Some Extent
Exclusive Showroom
Self Wife
15 RajeewRanjan
Samsung
Feature
Silver Convection
More Auto Cook Menu
Yes Brand Loyalty
Till Some Extent
Exclusive Showroom
Wife Self
16 Rajesh Ranjan
LG Quality
Red Grill Start-Up Kit
No Own Decision
Very Much
Internet Wife Self
17 Smit Kumar
Whirlpool
Brand Red Convection
Cookery classes
Yes Peer Suggestion
Very Much
Exclusive Showroom
Self Wife
18 Ravi LG Brand Silver Convection
Healthy Cooking
No Peer Suggestion
Very Much
Exclusive Showroom
Wife Self
19 Amit Samsung
Quality
Black Grill Cookery classes
No Brand Awareness
Till Some Extent
Internet Self Self
20 Bhupendra Kumar
Godrej
Feature
Black Convection
Start-Up Kit
Yes Brand Loyalty
Till Some Extent
Exclusive Showroom
Mother Daughter
21 Nitin Kumar
IFB Feature
Silver Grill Start-Up Kit
No Own Decision
Very Much
Exclusive Showroom
Wife Self
22 Saroj Whirl Qualit Black Grill Cooke No Own Very Exclusiv Self Self
[44]
pool y ry classes
Decision Much e Showroom
23 Navin Kumar
Godrej
Feature
Black Convection
More Auto Cook Menu
No Peer Suggestion
Very Much
Exclusive Showroom
Self Daughter
24 Bipin Kumar
LG Quality
Black Convection
More Auto Cook Menu
No Own Decision
Till Some Extent
From Dealer
Wife Wife
25 Dr.Afroj Ahmad
Samsung
Brand Silver Grill Start-Up Kit
Yes Peer Suggestion
Till Some Extent
From Dealer
Wife Self
26 Rajesh
LG Brand Red Convection
Healthy Cooking
No Peer Suggestion
Very Much
Exclusive Showroom
Wife Daughter
27 Sanjay Kumar
LG Quality
Silver Solo Start-Up Kit
Yes Own Decision
Very Much
From Dealer
Self Wife
28 Rakesh kishor Sharma
Godrej
Brand Black Grill Cookery classes
No Brand Loyalty
Very Much
Exclusive Showroom
Self Self
29 Om Prakesh Sharma
Samsung
Quality
Black Convection
Start-Up Kit
Yes Peer Suggestion
Till Some Extent
From Dealer
Wife Self
30 J.P Agrwal
LG Brand Silver Convection
More Auto Cook Menu
No Own Decision
Very Much
From Dealer
Wife Wife
Data Analysis & Interpretation
Consumer pre purchase Behaviour Survey
How people take decision to purchase Microwave Oven?
[45]
Pie-Chart and Analysis
Sample size =30
Customer’s preference of brand
Out of 30 respondents 9 have shown interest in purchasing
Washing machine of LG, 6 of Samsung, 6 of Whirlpool, 7 of IFB
and rest 2 of Videocon.
Inference
Most of the people liked LG,Samsung is liked by less number of
customers, IFB and Whirlpool has same awareness and Godrej
is least preferred brand.
Pie-Chart and Analysis
Sample size =30
Desired attributes while buying microwave oven
30%
23%17%
17%
13%
Customers Response
LG
Samsung
Whirlpool
IFB
Godraj
[46]
While buying a washing machine 10 customers go for Quality, 9
customers go for Feature, 7 Customers go for Brand, and rest 4
go for price.
Inference
At the time of buying MWO, brand and quality are important
factors to influence purchase decision and after that customers
think about feature and price.
Pie-Chart and Analysis
Sample size =30
34%
20%
33%
13%
Customers Response
Brand
Feature
Quality
Price
[47]
Customers’ preference of colour
Out of 30 respondents 12 customers prefer white colour, 11
prefer silver colour, 7 white and rest prefer gray colour.
Inference
Black and Silver colours are most preferable among customers.
Pie-Chart and Analysis
Sample size =30
47%
33%
13%
7%
Customers Response
Black
Siver
Red
Gray
[48]
Type of Microwave Ovenprefer to use
From this pie chart we can interpret that 16 customers want to
purchase Convection Microwave Oven, 9 want Grill, 4 want
solo and only 1customers like solar Dum.
Inference
Most of the customers want to use convection microwave oven
because convection model carries all three functions (solo, grill,
convection) Many customers don’t know about solar Dum,
Customers’ second choice is grill and Solo model is liked by
fewer customers.
Pie-Chart and Analysis
Sample size =30
53%
31%
13%
3%
Customers Response
Covection
Grill
Solo
Solar Dum
[49]
Attributes which influence your purchasing decision
Here 9 customers want start-Up Kit, 8 customers want cookery
classes, 7 customers wants healthy cooking, And rest 6
customers wants more Autocook menu in microwave Oven.
Inference
Most of the customers wanted to have more accessories with
starter Kit because it helps in cooking of different menu,some
needed cookery classes and some needed healthy cooking
feature and some needed more auto cook menu.
Pie-Chart and Analysis
Sample size =30
28%
24%17%
31%
Customers Response
Cookery Classes
Healthy cooking
More Autocook Menu
Start-Up Kit
[50]
Awareness about IFB Microwave Oven
Out of 30 respondents 10 customers are aware about IFB
microwave Oven and 20 customers are not aware.
Inference
Awareness of IFB MWO is less so we need to spread the brand
awareness of MWO.
Pie-Chart and Analysis
Sample size =30
How customer take purchase decision while purchasing
Microwave Oven
33%
67%
Customers Response
Yes
No
[51]
Out of 30 respondents 15 customers Purchase through own
decision, 9 through peer suggestion, 3 due to brand awareness
and rest 3 due to brand loyalty.
Inference
While purchasing MWO, most of customer’s trusts on self
decision and some cosumers believe on peers suggestion.
Pie-Chart and Analysis
Sample size =30
Mode of purchasing Microwave Oven
48%
31%
11%
10%
Customers Response
Own Decision
Peer Suggestion
Brand Awarnees
Brand Lotalty
[52]
Out of 30 respondents 15 customers wants to purchase
microwave Oven through exclusive showroom, 8 customers
through dealer, and 2 through internet and rest 5 customers
want through retailer
Inference
Most of customers wanted to purchase from exclusive
showroom because there is more options for selecting a
product alsoCustomers trust more on showroom,some wanted
to purchase from dealers’ point because dealers might provide
in less priceand some liked to buy from retailer and on net.
Pie-Chart and Analysis
Sample size =30
How warranty period affect sales of microwave Oven
52%
31%
10%
7%Customers Response
Exclucive Showroom
From Dealer
Internet
Retailer
[53]
While purchasing microwave Oven 19 customers says warranty
period affect very much, 8 customers say till some extant and 3
customers says warranty period doesn’t matter for me.
Inference
Warranty period too much affects the buying decision; this is
perception of most of the people,somethink it affect for some
extent andsome think it does not matter.
Existing Customer
1 PRODUCT 90% customer is satisfied with product and 10% are not satisfied.
2 FEATURE 50% Customers buy due to Best Feature, 35% Customers due to Best
63%
27%
10%Customers Response
Very Much
Till Some Extent
Doesn't Matter
[54]
Quality and rest don’t know.
3 BRAND According to customers IFB washing machines are very popular brand, which provide good quality and user-friendly washing machines. IFB washing machines loaded with wide range of features such as 3D wash, Eco Wash, ring plus, Air Bubble Wash Silver Nano Paddles.
4 Price 80% customer says price of IFB product according to product quality and they are satisfied with IFB pricing strategy.
5 After Sales Service 80% customer is satisfied with services, 10% can’t say and rest 10% are not satisfied.
SUMMARY OF FINDINGS
[55]
Our survey was confined within Patna only so the outcomes and conclusions are not applicable for the entire state or country.
Our sample size was 110 general customers and, so sampling error might occur or may not be accurate.
Many customers did not entertain us and did not want to disclose their internal information to us.
We had limited time for doing the survey, preparing the reports and completing our projects.
There were very less no. of Washing Machines available at the Dealer’s shop, even, the no. of Dealers were less.
The ranges of Front Loader Washing Machines were more than Top Loader.
[56]
IFB had a very strong market share in terms of sales of front loading washing machines as compare to top loading.
The major competitors of IFB washing machines are Samsung & LG but whirlpool & Videocon are future threat for IFB market share.
Conclusion
[57]
IFB needs to create public awareness in the market & should spend heavily on promotional activities.
Need to increase number of dealers at Patna, search for new dealers in this region.
IFB try to come up with special customize shop only for IFB products.
Give much concern to exhibition on different location in Patna, where IFB can reach maximum and potential customers.
Dealer’s discounts and schemes should be maintained to
satisfy dealers.
The brand promotional techniques like canopies, activities, free service camps, stage shows etc. should be done more regularly to improve brand awareness.
[58]
Brand promotional initiatives like personal relation, direct contact with customers using distribution channel should be done.
Improve the ambience and POP in the stores having IFB’S product so that the customers mind can captured and sales can be promoted.
SWOT Analysis of IFB Home appliances
Strength
Brand image in Home Appliances Division
[59]
IFB has a brand image in home appliances division and it is leading market in this segment with the major number of customers of washing machine and microwave oven.
Innovative product The products are actually innovative and new in Indian market so they have a near monopoly in dishwasher a clothes dryer with maximum market share. So it attracts the customers of higher class for mere luxurious life style.
Compatible workforce The company has a compatible work force which works in team to give a new height to the company.
Strongafter sales service The company is also providing best after sales service to its customers by the schemes like warranty, annual maintenance contract and extended warranty.
Durability/performance
4 year 100% warranty & 10 year spears part support
Weakness
Less brand awareness
Less number of dealers so eventually less availability of IFB’s products.
Less range of products in consumer durables
[60]
It has less range of products which is not sufficient to capture the whole market. Through some new products are ready to be launch in coming year but also some small consumer durables like iron, water heater, camera etc, Can be added.
Products are for winter season but no product is specially for summer season The product like cloth dryer can be used in winter season mainly which comes just for 2 months in entire year. Such products can only be purchased by north people due to having very less temperature in winter season. There should be some summer products like refrigerator, AC, cooler, water cooler etc. So that it can be purchased in entire year and can capture the whole Indian market.
Less promotional activities There are no promotional activities for the promotion of the products. Even there is not any advertisement which can show the features and variety of products. This is the reason that there are very less sales of hobs and chimneys because people are not aware of its new products.
Opportunity
Scope for growth in the rural market IFB still have not covered the rural market of country. As
India has its major population in rural areas, the company
should focus towards the rural market.
Scope in semi-automatic washing machine segment
[61]
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 Threats
Aggressive and effective promotional marketing 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.
LIMITATION OF THE STUDY Since nobody is perfect in this world, everyone has some limitation. So is the case with this study also. These are the following limitations; a) Due to shortage of time, study was confined to specified areas of Patna.
[62]
b) Some respondents were hesitant to disclose some information or have given incomplete information. c) There might have been some biased responses, and because of which findings may not be 100 % accurate. d) The information presented may not be accurate due to the lead-time between the time of collection and time of presentation of data.
Questionnaire
Name……………………………………………………………….
Location…………………………………………………………...
Phone No.................................................................................
Age- (1) 18-28 ( ) (2) 29-39 ( ) (3) 40-50 ( )
(4) Above 50 ( )
Gender - (1) Male ( ) (2) Female ( )
[63]
Income- 15000-25000( ) 25000-35000( ) Above
35000( )
Washing Machine
1. Which brand (washing machine) do you want to use?
(a) LG
(b) IFB
(c) Whirlpool
(d) Any other......................................................
2. Which attributes do you look for purchasing washing
machine?
(a) Quality
(b) Feature
(c) Brand
(d) Any other........................................
3. Which colours of washing machine do you prefer most?
(a) Red
(b) Silver
(c) White
(d) Any other Please Specify.....................................
4. Which type of Washing Machine do you like to use?
(a) Front Loading
(b) Top Loading
(c) Semi Automatic
[64]
5. Which attributes Influence your purchasing decision for
washing machine?
(a) Steam wash
(b) Air bubble wash
(c) Foam Control
(d) 3D Wash system
6. Are you aware about Fully Automatic Top Loader/ Front
Loader IFB washing machine?
(a) Yes
(b) No
7. How do you take purchase decision while purchasing
washing machine?
(a) Own Decision
(b) Brand Loyalty
(c) Peer suggestion
(d) Brand awareness
8. To what extent warranty period and other sales services
effect your purchase decision?
(a) Very much
(b) Till some extent
(c) Doesn’t matter
9. Which mode of purchasing would you like to adopt to buy
new washing machine?
(a) Retailer
(b) Online
(c) Exclusive showroom
[65]
(d) Other
10. Who is the decision maker to buy washing machine?
(a) Self
(b) Husband
(c) Wife
(d) Any other Please specify.............................................
11. Who is user of washing machine in your family?
(a) Wife
(b) Maid
(c) Other Please
Specify.......................................................
Questionnaire
Name……………………………………………………………….
Location…………………………………………………………...
Phone No.................................................................................
Age- (1) 18-28 ( ) (2) 29-39 ( ) (3) 40-50 ( )
(4) Above 50 ( )
Gender - (1) Male ( ) (2) Female ( )
[66]
Income- 15000-25000( ) 25000-35000( ) Above
35000( )
Microwave Oven
1. Which brand do you choose while buying microwave
oven?
(a) LG
(b) IFB
(c) Samsung
(d) Any other Please specify..........................
2. Which attributes do you look for purchasing microwave
oven?
(a) Quality
(b) Price
(c) Brand
(d) Any other........................................
3. Which colours of microwave oven do you prefer most?
(a) Red
(b) Silver
(c) White
(d) Any other Please Specify.....................................
4. Which type of microwave oven do you like to use?
(a) Solo
(b) Grill
[67]
(c) Convection
(d) Solar Dom
5. Which attributes Influence your purchasing decision for
microwave oven?
(a) Healthy cooking
(b) Start-Up Kit
(c) More auto cook menu
(d) Cookery Classes
6. Are you aware about microwave oven of IFB?
(a) Yes
(b) No
7. How do you take purchase decision while purchasing
microwave oven?
(a) Own Decision
(b) Brand Loyalty
(c) Peer suggestion
(d) Brand awareness
8. To what extent warranty period and other after sales
services effect your purchase decision?
(a) Very much
(b) Till some extent
(c) Doesn’t matter
9. What mode of purchasing would you like to adopt to buy
new microwave oven?
[68]
(a) Retailer
(b) Online
(c) Exclusive Showrooms
(d) Other
10. Who is the decision maker to buy microwave oven?
(a) Self
(b) Wife
(c) Husband
(d) Any other Please specify.............................................
11. Who is user of microwave oven in your family?
(a) Wife
(b) Maid
(c)Mother
(d) Other Please Specify......................
BIBLIOGRAPHY
www.ifbindustries.com
[69]
www.ifbsappliances.com
www.monycontrol.com
www.topcompaniesinindia.com
www.company.monsterindia.com