A Survey on Videocon

7/31/2019 A Survey on Videocon

1/48

A

Project report on

Consumer perception on television sets:

A survey on videocons t.v. sets

Submitted By:-

Under the guidance of:-


2/48

PREFACEMarketing is merely a civilized form of warfare in which most battles are won

with words, disciplined thinking, and power of original ideas; forward vision and quick

action coupled with keeping in mind the customers desires.

Marketing occupies an important position in the organization of business unit.

Traditional view of marketing asserts that the customers will accept whatever product

the seller present to them. In this way the main concern of producer is to produce

without considering the choice or the behavior of the customer. But this view of

marketing has now changed. The modern concept may be viewed from the customers

point of view. Marketing is centered on the customer. Producer does not produce

whatever he likes but whatever consumers want.

The product is the most important tool in the marketing mix, without a product

there is no question of marketing. The whole marketing programme is based on the

product.

The buyer purchases a product only because it serves the customer by satisfying

his needs and desires and therefore he/she pays for it. Thus a product is a potential

utility because customer is more interested in the benefits he gets from the product

rather than the product characteristics in a physical sense.

In this way, product is the basis of marketing progaramme.


3/48

DECLARATION

I do here by declare that this piece of

project report submitted by me at Centre

For IT Education, Bhubaneswar, for the

fulfillment of Master Of Business

Administration (MBA) 1st year summer

project (session: 2007-2009) under Biju

Patnaik University Of Technology (BPUT),

Orissa is a complete work of my own effort.

This report or similar report on the topic

has not been submitted for any otherexamination and doesnt form part of any

other course under gone by me.

Name:-


4/48

ACKNOWLEDGEMENTWith unbound pleasure I Manas Ranjan Behera (MBA), a

student of Center For IT Education, Bhubaneswar present this project

report on Consumer Perception on Color Television sets: A Survey On

Videocon T.V. sets with reference to Videocon Industries ltd,

Bhubaneswar.

It has been a challenging experience to explore this topic &

work in such a dynamic well- known and establishment organization. It has

been a great learning experience.

I am indebted to Mr. Bijay Adhikari (Marketing Head of

Videocon Industries Ltd., Bhubaneswar) for lending his help & experience

to me to be able to make a successful project could not have attended this

dimension.

I am equally grateful & also like to expand my thanks to Mr.

(Faculty subject here) for his valuable suggestion & advice. And without

his kind co-operation this project would not have been completed.

I would like in addition to express my sincere gratitude to all

the faculty members of our institute for their enlightment & guidance at

every step. I am equally thankful to all the staff members of Videocon,

Bhubaneswar for their invaluable time and co-operation, service & timely

help & providing of necessary data & information. Without which this

project could not have been developed.


5/48

CONTENTSChapter No. Contents

Page No.


6/48

Chapter-1 Company profile 1-14

Chapter-2 Research methodology 15-16

Objective and Scope of the study 17

Why I choose this topic 18

Chapter-3 Literature Study 19-27

Questionnaire and Analysis 28-45

Chapter-4 SWOT analysis 46

Limitation 47

Findings 48

Suggestions 49Conclusion 50

Chapter-5 Bibliography & Webliography 51

GGive a logo of videocon company here

HISTORY OF VIDEOCON:


7/48

Venugopal N Dhoot

Chairman

Videocon is an Indian multinational with interests in Consumer Electronics,

Home Appliances, Colour Picture Tube Glass, and Oil & Gas. Videocon was founded in1987 by Nandlal Madhavlal Dhoot. At that time it used to manufacture TV and Washing

Machine. In 1989-90, Videocon started manufacturing Home Entertainment Systems,

Electric Motors & AC. Videocon entered Refrigerators and coolers segment in 1991. In

1995, Videocon started manufacturing Glass shells for CRT and in 1996 it ventured into

Kitchen appliances and crude oil segment. In 1998, Videocon started manufacturing

Compressors & Compressor Motors. In the year 2000, Videocon took over Philips Color

Shri Nandlal Madhavlal Dhoot, the Founder of the

VIDEOCON Group, completed his education in

Ahmednagar and Pune. He was a successful

sugarcane and cotton cultivator. As a next logical

step to vertical integration, he boldly took uponan entrepreneurial venture by importing

machinery from Europe to set up the Hanaper

Sakhar Karkhana (Sugar Mill) in 1955. Those were

the times when the village did not even have

electricity. Thus was unleashed an Industrial

Revolution.

The die was cast. Over the years, Nandlalji's path-

breaking attitude found expression in a myriadways, earning him the well-deserved reputation

of the pioneer of industrial activity in Marathwada

India.

In early 80's Nandlalji initiated his three sons -

Venugopal, Rajkumar and Pradeep into business.

Through a technical tie up with Toshiba

Corporation of Japan, he launched India's first

world-class color Television: Videocon. Today,Videocon is household name across the nation-

India's No. 1 brand of Consumer Electronics &

Home Appliances, trusted by over 50 million

people to improve their quality of life.

Late Shri. Nandlal MadhavlalDhoot

Founder, The Videocon Group

( 26 February 1932 - 26 April1993 )

A man of Ideas. A man ofSubstance.

A man of Vision.


8/48

Television Plant. In 2005, Videocon took over 3 plants of Electrolux India and acquired

Thomson CPT. today; it has evolved into a giant conglomerate with annual revenues of

over U$4.1 billion.

BUSINESS INTEREST OF VIDEOCON:

Consumer Electronics & Home Appliances:

Videocon enjoys leadership position in consumer products like Colour

Televisions, Washing Machines, Air Conditioners, Refrigerators, Microwave ovens

and numerous other home appliances. Videocon's refrigerator manufacturing

enjoys synergy with its inhouse compressor manufacturing technology in

Bangalore.

Display industry and its components:After the acquisition of Thomson in 2005, Videocon has emerged as one of

the largest Colour Picture tube manufacturers in the world. It has plants in

Mexico, Italy, Poland and China and manufactures a range of high-tech products

such as slim CPT, extra slim CPT and High Definition 16:9 format CPT.

Colour Picture Tube Glass:

Videocon is one of the largest CPT Glass manufacturers in the world. It has

plants in Poland and India. Videocon's CPT Glass manufacturing complements ite

color picture tube manufacturing business.

Oil and Gas:

Videocon Group has interests in oil & gas exploration, prospecting and

intends to get into gas distribution. It produces 7% of all oil in the private sector

in India. Videocon's Ravva oil field has one of the lowest operating costs in the

world and it produces 50,000 barrels of oil per day. Videocon is also actively

looking for exploration and production opportunities in countries like Oman,

Australia and the Timor Sea near Indonesia.

MAJOR ACHIEVEMENTS OF VIDEOCON INDUSTRIES LTD:

The largest panel production facility in the world under one roof providing

very high economies of scale

One of the world's largest and most respected CRT glass manufacturers

Firing the largest furnace of its kind in the world with a tank size of 3300

sq ft


9/48

One of the few companies in the world to convert sand to TV

One of the largest and most acknowledged CPT manufacturer in the world

Manufactured India's first rust-free Washing Machine

OUR NETWORKS:

MILESTONES OF VIDEOCON:

1987 Color & B/W TVWashing Machines

1989-1990 Home Entertainment SystemsElectric MotorsAC


10/48

1991 RefrigeratorsCoolers

1995 Glass Shells for CRT

1996 Kitchen AppliancesCrude Oil

1998 CompressorsCompressor Motors

2000 Philips Color TV Plant Takeover

2005 Electrolux India 3 Plants TakeoverThompson CPT acquisition

2008 Sansui & Akai Takeover

TIE-UPS WITH GLOBAL LEADERS:

Partner Product Nature Of Tie-Up

Samsung Electronics Fly Back

Transformers, Tuners

Technical Support

Matsushita Electric Washing Machine Technical * Collaboration

Matsushita Electric Air Conditioner Design & Drawing

Matsushita Electric Refrigerator Design & DrawingSansui Electric Co. Ltd Audio Products

and Colour TVODM for Indian Market

Techneglas Glass Shell Technical Collaboration

Akai Audio Productsand Colour TV

ODM for Indian Market

Hyundai Colour TV ODM for Indian Market


11/48

Electrolux AB Sweden Refrigerator,Air Conditioner andWashing Machine

1.ODM & Indian Market2.Sourcing of components forGlobal Market3.ODM for Global market


12/48


13/48

VIDEOCONS PRODUCTS

VISION, MISSION & OBJECTIVE:


14/48

Our Vision:

1. To become the No.1 Service Provider in India.

2. To build a brand around substance.

3. To communicate simple truths that customers understand.

4. To become a leader in our chosen field and become a globally recognized,

prestigious company through synergistic business investment, differentiation

through innovation, passion through empowerment, cost through economies of

scale and world class systems.

Our Mission:

5. To ensure Total Customer Delight by offering prompt and quality services

6. Contribute to product quality improvements

7. Train service force continuously on field requirements

8. To build the image of customer service and to ensure bench marking of all

functional areas with the best in the trade

Our Objectives:

1. To restructure the service network in terms of automation, infrastructure and

manpower to meet the best of service requirements and to minimize service

response time as per market trends.

2. To establish the service organization as a value addition to the brand and to

provide total customer convenience and satisfaction at par with or better than the

best in the trade.

Our Primary Objectives


15/48

FUTURE PLANS:

To strengthen and maintain & its leadership status, the Videocon group has clearly

charted out its course for the future. Aggressive development is in full swing at the R &

Service NetworkBranch

Franchisee

Customer CareComplaint

RegistrationService Charges

24 Hrs SupportCall Centers

Smart CareCustomer Benefits

AMC Registration
http://www.servicedelight.com/HPG_CustomerCare.aspxhttp://www.servicedelight.com/HPG_ServiceLoc.aspx


16/48

D Centres to bring out state-of-the-art technologies including True Flat, Slim, Extra Slim,

Plasma & LCDs, at the earliest.

Cost rationalization processes - are in various stages - including rationalizing factories

in Europe, increasing automation and improvement of efficiency in China, accessing

flass shells from India for international CPT facilities and a lot more- are in various

stages of implementation.

Internationally all existing client relationships are being strengthened. The cost

competitiveness and increase in capacity in Mexico and Polland has opened up big

opportunities in the OEM business.

Last but not the least, in the domestic market consolidation with multiple brands paves

the way for an unassailable lead in the market.

In the Oil & Gas business, having all the basic operator capabilities of a prospecting

entity, the group is looking to add more explorations and production depth as also oil

bearing assets. The group will also get into gas distribution in India significantly.

Research methodology


17/48

Research signifies careful investigation or inquires specially through search for

new facts in branch of knowledge. So in general research is the process searching again

until reach at the solution of a problem. Research conducted for getting root of a

problem through the application of scientific procedures.

Research methodology is a way to systematically solve the research problem. In

other way it may be the science of conducting research in scientifically methods.

Research methodology not only indicates the research methods but also it signifies the

logic behind it the methods. We use in context of our research study & explain why we

are using the particular method or technique & why not others. So that research result

can evaluate by the researcher himself.

METHODS OF DATA COLLECTION

There is several ways of collecting data. But two methods are used in this project.

1. Primary data

2. Secondary data

Primary Data

Primary data is otherwise known as first hand data/direct data. Primary data

collection is directly collected data from the field. Primary data can be collected through

various ways such as:

1. By observation

2. Through personal interview

3. Telephonic method

4. Questionnaires

Among all these method, true & exact data can be get through the questionnaires

& personal interview.

Secondary data

Secondary data is otherwise known as second hand data which is already

available.


18/48


19/48

Objectives

1. To know the market share and heart share of Videocon T.V. in Bhubaneswar

market.

2. To know the satisfaction level of existing customer of T.V.

3. To know the factors that attracts the customer to purchase the Videocon T.V.

4. To find out the potential customer of Videocon as well as Videocon T.V. in

Bhubaneswar market.

Scopes

1. Geographical scope of the study is only main part of Bhubaneswar market.

2. Also this study will help to know the T.V. of various brands.

3. Also it will help to know the brand awareness level of existing & non-existing

customer of Videocon T.V. and their preference.

4. The main scope of this study is to indicate the market share of Videocon T.V. in

Bhubaneswar market.

5. This study will show the lacunae of company as compared to competitors, so that

adequate strategies can be implemented & to indicates its market share &

maintain its brand existence in market.


20/48

Questionnaire & Analysis

(An Analysis for the sample size of 100)Q.1 WHICH BRAND OF T.V. DO YOU HAVE?

a) VIDEOCON

b) SAMSUNG

c) L.G.

d) OTHERS

Response: (Name of the Brand & No. of respondent)

a) VIDEOCON : 23

b) SAMSUNG : 35

c) L.G. : 15

d) OTHERS : 27

Analysis:

From the survey it has been found that Videocon has market share of 17%.

SAMSUNG has been found to be the market leader in television sector.

Q.2 HOW LONG YOU ARE USING THIS WASHING MACHINE?

a) SINCE 1 YR.

b) SINCE 2 YR.

c) SINCE 5 YR.

d) SINCE 10 YR.

e) SINCE MORE THAN 10 YR.


21/48

Since 1 Yr.

12%

Since 2 Yr.

18%

Since 5 Yr.

20%

Since 10Yr.

22%

Since More

than 10 Yr.

28%

Since 1 Yr.

Since 2 Yr.

Since 5 Yr.

Since 10Yr.

Since More than 10

Yr.

Response: (Name of the Brand & No. of respondent)

a) Since 1 yr. : 12

b) Since 2 yr. : 18

c) Since 5 yr. : 20

d) Since 10 yr. : 22

e) Since more than 10 yr. : 28

Analysis:

From the survey it has been found that day by day the selling of Videocon

washing machine. has been decreased. Now it has been reached to its decline stage. It

needs so many changes so as to be get rid of decline stage.

Q.3 FROM WHERE YOU CAME TO KNOW ABOUT THE PRODUCT?

a) TV ADVERTISEMENT

b) NEWS PAPER

c) FRIENDS

d) OUTDOOR ADVERTISEMENT

e) INTERNET


22/48

SOURCE OF KNOWLEDGE OF THE BRAND

43

1620

147

0

10

20

30

40

50

TV

ADV

ERTISEME

NT

NEWSPAPER

FRIENDS

OUTDOOR

ADV

ERTISEME

NT

INTERNET

SOURCE

PERCENTAG

Series1

Response: (source of knowledge of the Brand & No. of respondent)

a) TV ADVERTISEMENT : 43

b) NEWS PAPER : 16

c) FRIENDS : 20d) OUTDOOR ADVERTISEMENT : 14

e) INTERNET : 7

Analysis:

The survey says washing machine is the best media to reach to people. From T.V.

advertisement most of people are getting knowledge about the product. Hence company

should give more emphasis of T.V. advertisement so that it can raise its market share by

reaching to the peoples mind and heart.

Q.4 WHICH ATTRIBUTE OF THE PRODUCT DID ATTRACT YOU TOWARDSTHE PRODUCT BEFORE PURCHASE?

a) PRODUCT FEATURES


23/48

b) PRICE

c) BRAND

d) DEALER NETWORK

e) REFERENCE

CAUSE OF ATTRACTION OF THE PRODUCT BEFORE

PURCHASE

25%

28%

25%

8%

14%

PRODUCT FEATURES

PRICE

BRAND

DEALER NETWORK

REFERENCE

Response: (Attributes that attract the product & No. of respondent)

a) PRODUCT FEATURES : 25

b) PRICE : 28

c) BRAND : 25

d) DEALER NETWORK : 8

e) REFERENCE : 14

Analysis:

It has been found that peoples are getting attracted towards Videocons washing

machine before purchase due to product features and price. Brand name has also a

greater impact in the peoples mind. Dealer network is not so worthy for people to

choice Videocon washing machine Also people are buying this product with any

reference like assurance from friend or neighbour etc.


24/48

Q.5 WHILE PURCHASING THE PRODUCT WHICH ATTRIBUTES YOU DIDCOMPARE WITH OTHERS PRODUCT?

a) PRODUCT FEATURES

b) PRICE

c) AFTER SALE SERVICEd) AVAILABILITY OF THE PRODUCT

e) GOODWILL

41%

36%

9%

12%2%

PRODUCT FEATURES

PRICE

AFTER SALE SERVICE

AVAILABILITY OF

PRODUCT

GOOD WILL

Response: (Attribute that a person compare with others brand &

No. of respondent)

a) PRODUCT FEATURES : 41

b) PRICE : 36

c) AFTER SALE SERVICE : 9

d) AVAILABILITY OF THE PRODUCT: 12

e) GOODWILL : 2

Analysis:

From the survey it has been found that while a person is buying a Videocon

washing machine he/she is comparing the products features with other brand and then

he/she is coming to the price part. This says people are more cautious about the

product features and price rather than goodwill of company or availability of the

product. Also some people are comparing most after sale service of the product.


25/48

Q.6 WHICH FEATURES OF THE PRODUCT YOU LIKE MOST?

Analysis:

From the survey, various features are coming into account which has been

appreciated by the people. For example some people are saying its picture quality is

excellent, some are in favor of sound quality, some like its convenience of the product

and some are in satisfied with price and many more.

FROM QUESTION NO.7-9 (GIVE A TICK MARK)

Answering options-

A- HIGHLY SATISFIEDB- SATISFIED

C- MODERATELY SATISFIED

D- DISSATISFIED

Q.7 ARE YOU SATISFIED WITH THE PRODUCT?

A) B) C) D)

MAJOR OF SATISFACTI

23

39

21

17

0

5

10

15

20

25

30

35

40

45

H IG HLY S A TIS FIE D S A TIS FIE D M O DE RA TE LY

SATISFIED

DISSATISFIED

TYPE OF SATISFACTI

PERCENTAGE

Response: (major of satisfaction & No. of respondent)


26/48

A- HIGHLY SATISFIED : 23

B- SATISFIED : 39

C- MODERATELY SATISFIED : 21

D- DISSATISFIED : 17

Analysis:

Survey says about 39% of people using Videocon washing machine. are

satisfied with the product. Also there are some people who are dissatisfied

with the product up to some extent. But overall survey regarding satisfaction

says people are comfortable with the product.

Q.8 ARE YOU SATISFIED WITH CONVENIENCE OF USE OF THEPRODUCT?

A) B) C) D)

MAJOR OF CONVENIENCE

36

28

20

16

0

5

10

15

20

25

30

35

40

HIGHLY

SATISFIED

SATISFIED MODERATELY

SATISFIED

DISSATISFIED

TYPE OF SATISFACTION

PERC

ENTAGE

Response: (major of convenience with use & No. of respondent)


B- SATISFIED : 28



Analysis:


27/48

Most of the people are highly satisfied with the use of product. They feel more

convenient with the use of product comparing to other brand. Also some people about

16% are dissatisfied on convenience with use of product.

Q.9 ARE YOU SATISFIED WITH THE OVERALL PERFORMANCE?

A) B) C) D)

MAJOR OF PERFORMANC

30

37

20

13

0

5

10

15

20

25

30

3540

HIGHLY

SATISFIED

SATISFIED MODERATELY

SATISFIED

DISSATISFIED

TYPE OF SATISFACTIO

PERCENTAGE

Response: (major of per & No. of respondent)


B- SATISFIED : 37



Analysis:

The survey says people are mostly satisfied with the performance of the Videocon

washing machine. Also about 30% of the people are highly satisfied with the product.

There are also some people who are dissatisfied with the product


28/48


Answering optionsA- YES

B- NO

C- CANT SAY

Q.10 DOES THIS PRODUCT GIVES VALUE FOR MONEY?

A) B) C)

YES

62%

NO

28%

CAN'T SAY

10%

YES

NO

CAN'T SAY

Response: (View & No. of respondent)

A- YES : 62

B- NO : 28

C- CANT SAY : 10

Analysis:

According to survey about 62% of Videocon washing machine. users are enjoying

the value for the money from the product while about 28% people says No. That means

most of the people are getting equal return on expense for buying the product .


29/48

Q.11 THIS PRODUCT IS BETTER THAN OTHERS?

A) B) C)

YES

52%NO

41%

CAN'T SAY

7%

YES

NO

CAN'T SAY


A- YES : 52

B- NO : 41

C- CANT SAY : 7

Analysis:

With the comparison of the Videocon washing machine. with other brands most of

the people using Videocon washing machine are saying that this product is better than

the other brands. Also about 41% of the people are saying that this product is not better

than other brand.


30/48

Q.12 DOES THIS PRODUCT REQUIRES FREQUENT MAINTENANCE?

A) B) C)

YES

27%

NO

61%

CAN'T SAY

12%

YES

NO

CAN'T SAY


A- YES : 27

B- NO : 61

C- CANT SAY : 12

Analysis:


31/48

According to the survey, Videocon washing machine requires more maintenance

as compare to other brands. About 27% of users says yes while 61% of users say no

that this product require frequent maintenance. This means there is certain problem

with the product as it is requiring frequent maintenance.

Q.13 WILL YOU PREFER TO BUY ANOTHER PRODUCT OF THIS BRAND?

A) B) C)

YES

35%

NO

51%

CAN'T SAY

14%

YES

NO

CAN'T SAY


A- YES : 35


32/48

B- NO : 51

C- CANT SAY : 14

Analysis:

According to the survey about 51% of Videocon washing machine users are notinterested with the other consumer durable electronics product of the similar brand.

There may be some reason for this response like more maintenance etc. there are also

35% of users who are interested to use another product of same brand.

Q.14 IS THE PERFORMANCE OF PRODUCT MATCHING AS PROMISED BYTHE COMPANY?

A) B) C)

YES

53%NO

39%

CAN'T SAY8%

YES

NO

CAN'T SAY



33/48


34/48


A- YES : 44

B- NO : 40

C- CANT SAY : 16

Analysis:

From the survey it has been found that about 44% of the Videocon washing

machine users are referring other people to buy the same product of product of same

brand while about 40% of the user not referring to others. They are denying others to

buy the product of same brand. Also 16% of the users are not giving any comment

towards this matter.


Answering option-A- EXELLENT

B- VERY GOOD

C- GOOD

D- FAIR

E- BAD

Q.16 HOW IS THE AFTER SALE SERVICE?

A) B) C) D) E)


35/48

2%10%

37%

28%

23%

EXELLENT

VERY GOOD

GOOD

FAIR

BAD

Response: (After sale service type & No. of respondent)

A- EXELLENT: 2

B- VERY GOOD : 10

C- GOOD : 37

D- FAIR : 28

E- BAD : 23

Analysis:

According to the survey, about 37% of the respondents are saying good about the

after sale service of the company. Only 2% of the respondents are saying excellent for

after sale service. Also 23% of the people are not satisfy with the after sale service.

Q.17 HOW IS THE DISTRIBUTION CHANNEL?

A) B) C) D) E)


36/48

6%

24%

23%

28%

19%

EXELLENT

VERY GOOD

GOOD

FAIR

BAD

Response: (Distribution channel type & No. of respondent)

A- EXELLENT: 6

B- VERY GOOD : 24

C- GOOD : 23

D- FAIR : 28

E- BAD : 19

Analysis:

From survey most of the people (28%) are saying fair about the distribution

channel of the company. There are also some people (19%) are not satisfied with the

distribution channel of the company.

Q18. HOW THE PROMOTIONAL ACTIVITY IS?

A) B) C) D) E)


37/48

16%

28%

32%

20%

4%

EXELLENT

VERY GOOD

GOOD

FAIR

BAD

Response: (Promotional activity type & No. of respondent)

A- EXELLENT: 16

B- VERY GOOD : 28

C- GOOD : 32

D- FAIR : 20

E- BAD : 4

Analysis:

About 28% of the respondents are saying good about the promotional activity of

the company where there are very few people that is about 4% of the respondents are

not satisfied with the promotional activity of the company. Around 16% of the

respondents are feeling excellent about the promotional activity.

Q19. WHAT CHANGES YOU WOULD LIKE TO BE IN THE PRODUCT?

Analysis:

From the analysis there are varieties of the views have been came into account

regarding the changes in the product such as price, more picture quality, better sound

system, more attractive advertisement, improvement in after sale service, more spread

of the distribution channel etc.

Q.20 THE BEST WAY FOR INFLUENCING CUSTOMER TO USE PURCHASE

THE COMPANYS PRODUCT WILL BE?


38/48

a) SEND POST PURCHASE THANKS LETTER

b) TO OFFER GUARANTEE

c) DISPLAY ITS PRODUCT SUPERIORITY ADVERTISEMENTS

d) REASSURE CUSTOMER WITH BETTER COMPETITION

e) CREATE A WIDE RANGE A TARGET MARKET

WAYOF INFLUENCINGCUSTORMER

A

B

C

D

E

Response: (Way of influencing customer & No. of respondent)

a) A : 21

b) B : 32

c) C : 23

d) D : 14

e) E : 10

Analysis:

From the survey it has been found that most of the respondents (32%) are in

favor of getting guarantee where as few of the respondents are saying that company

should increase its target market. About 21% of the people are interested for post

purchase thanks letter from letter.

LITERATURE Study

Customer Satisfaction:

Satisfaction is the customers feelings of pleasure or disappointment resulting

from the product or services after comparing between perceived performances to its

expectations.


39/48

Performance and, where the buyer satisfied after purchase depends upon offer

performances in relation to buyer exception. If the performance falls below the

expectations then the buyer unhappy or dissatisfied, and when the performance match

with the expectation then customer feel became delight or highly satisfied with the

product. This satisfaction leads to emotional bond with brand and become brand

persistence those are much less ready to switch over to another brand of product. This

brings the result in highly customer loyalty. In case of dissatisfaction with a product,

then it is easy to switch over to another product, when a better offer comes.

Consumer Behavior:

The aim of marketing is to meet and satisfying the target customers needs and

want. Customers Behavior is the study of the processes involved when individuals or

groups select purchase, use or dispose of product service ideas or experiences to satisfy

needs or desires. Needs or desires are not specific. It ranges from hunger and thirst to

love, status or even spiritual fulfillment. Consumers are actors on the market palace

stage. They take lead role in the market. Whole market or business transaction is based

on the consumer before this whole market situations change presently, it is the Buyers

market. The selling and buying process confined on the consumer. Marketers given

importance on the taste and performance of consumers. They try to fulfill the needs and

satisfy them by delivering goods and providing better services.

Consumer behavior is the ongoing process, it has never ends. It reflects the

interaction between the consumer and producer at the time of purchase. It is

continuous process that not only remains at the time of transaction or buying or selling

period before this and after that also. The attitude towards the products before buying

is known as pre-purchase behavior and response found from consumer after using

the product is known as post-purchase behavior of customers. In other words we can

define it as the process of decision making of activities that the customer doses at the

time of evaluating, acquiring or using goods and services.

Buying Roles:


40/48

Consumer team refers to any one who involved in the activities of evaluating,

acquiring, using or disposing of the goods and services. We can distinguish five role

people might play in the buying decision. They are as follows:

Initiator: A person who first suggest buying the product or services.

Influencer: A person whose view or advice influence the buying decisions

Decider: A person who decide buying decision like where to buy, how to buy,

what to buy etc.

Buyer: The persons who actually purchase the products, he may be use or

not.

User: The persons who really consumes or uses the products or services.

Buying Behavior:

Consumer decision making process varies with the type of buying decisions.

Complex and expensive purchases are likely to involve more buyer deliberation and

more participative. Complex buying behavior is one of them. It is a three steps process:

The buyer developed belief about the products.

He or she made attitude about the products.

Make a thoughtful choice.

Consumer engages in the complex buying behavior when they are involved in a

purchase and aware of significant different among the brands. This case place usually

when products is highly expensive and infrequently, risky.

The marketer of high involvement product must understand consumers information and

evaluation behavior. The marketer should develop such strategies so that it will help the

consumers about the products and its brands features and relatives importance. The

marketer needs to differentiate the brands features by using print media to brands

benefits and motivates sale personnel to influence customer for final brand choice.

Buying Decision Process:


41/48

The consumer passes through five different stages of a typical buying process.

Problem recognition: The buying process starts when the buyer recognizes a

problem or need. The can be felt by internal and external stimuli.

Information Search: Before purchasing any products when he/she recognize

need he/she go for information about the goods. The main sources are personal

sources, commercial sources, commercial sources, public sources and

experimental sources.

Evaluation of alternatives.

Purchase decision.

Post purchase Behavior: After purchasing the product the consumer will

experience some level of satisfaction or dissatisfaction. It can be classified into

post purchase satisfaction post purchase action post purchase use and disposal.

Information and Buying Role:

Before consumers buy anything he/she requires information about the products.

Consumers find out what product and brands available in the market. Their features and

benefits selling price, dealer place where the product is available etc. Information

regarding products competitors price and features. Without taking decision regarding

new purchase is difficult.

Major factors influencing buying behaviors:

Buying behavior of consumer is influence by cultural, social, personal and

psychological factors. Cultural factors exert the deepest influence.

Cultural Factors:

Social and group forces determine the way we think, belief and add great extent,

individuals buying decisions are also affected by the Special Forces thats surrounds

him/her. Here culture most direct impact on the buying behavior.


42/48

Culture:

Culture is the most fundamental of a persons wants and behavior. His/her

perception preference and behavior changes through his/her family and other key

institution. He/she wants progress material comfort individualism freedom external

comfort ness and youth ness.

Sub-culture:

Each sub-culture consist f smaller sub-culture that provides more specific

identification and socialization for each member. Sub-culture includes nationalities,

religion, racial groups and geographical regions many sub-cultures make up important

market segment and marketer often design of product and marketing program tailored

to their needs.

Social Class:

These are relatively homogeneous and enduring divisions in society which is

hierarchically ordered and whose members share similar values, interest behavior.

Social Factors:It is also play important role in Buyers behavior. It includes references group,

family and social role and status.

Reference Group:

It consists of all the groups that have a direct and indirect influence on the

persons attitude and behavior. The groups having a direct influence on a person are

called membership group. It may influence either the purchase of products or selects of

a particular brand or both of them also.

Family:

Family member is the most influencing primary reference groups its influence

buyers behavior. Family has direct impact on the purchase behavior of individuals.


43/48

Social Role and Status:

A person position is defined by his role and status. A role consists of the

activities that a person is expected to perform and also carries a status. People chose

product that communicate role and status in the society.

Personal Factors:A buyers decision also influenced by personal character like buyers age and

stage in life cycle, occupation, economic circumstances lifestyle and

personality and self concept.

Age and stage in life cycle:

People change the goods and services they buy over a life time period. Taste in

clothes and furniture and recreation also age related. Consumption is shaped by family

life cycle. Marketers often define their target markets in terms of life cycle stage and

develop appropriate product and marketing plans for each stage.

Occupation and economic circumstances:

Occupation is also influences persons consumption pattern. Marketers always

try to identify the occupational group that has average interest in their product and

services. Product choice is also affected by economic circumstances spend able income,

savings and assets, debts, borrowing power, attitude to wads spending versus savings.

If economic indicators point to a recession marketers can take a step to redesign,

reposition, reprise their products so they continue to offer value to target customer.

Life Style:

A life style is the person pattern of living the world as expressed in activities,

interest and opinion. Marketers search relationship between their products and life style

groups marketers target the brand more clearly are the achiever life style.

Personality and self concept:


44/48

Personality is distinguishing psychological characteristics. Personality is

individuals pattern of traders that influence behavior responses related to personality is

persons self concept. Marketers tries to develop brand images that match the target

markets self images i.e. self concept

Psychological factors:

A persons buying choices are further influenced by four major psychological

factors. These are motivation, perception, and learning and belief attitude. These are

playing vital role in buying behavior of the consumer.

Motivation:

A motive is the need that is sufficiently pressing to drive the person to act. Needs

arises from psychology states of tension such as hunger, thirst, discomfort. They arise

from psychology state of tension such as the need for recognition, esteem or belong. So

motivation is one of the major factors which push the persons towards going for a

product.

Perception:

It is the process by which an individual selects, organizes and interprets

information to form a meaningful picture of the world. A motivated person is ready to

act. The persons act is influenced according to the perception of the situation.

Perception depends on the physical and environmental stimuli and the condition within

the individuals. People tend to perceive objects in terms of their exceptions. So here

decision regarding purchase is effective by perceptions

Learning:

It is a continuous process, its changes individuals behavior arise from experience.

A person from the interplay of drives stimuli, cues responses and reinforcement,

consumer learn to discriminator between very similar uses of stimuli.

Attitude and beliefs:


45/48

Through learning people acquire attitude and beliefs. These influence buying

behavior. An attitude is emotional feeling about an objects or idea. While beliefs is

descriptive thought about something. So company hires well known celebrity to endorse

their product.

Impulse buying behavior:

Purchasing with a little or no advance playing is called impulse buying. It is from

involvement decision making.

From the above fact it is clear that a persons purchase choice is the outcomes of

cultural factors, social factors, personal factors and psychological factors. Besides this

other factors also take important role in buying decision like marketer influence by

developing Marketing mix such as product, price, place and promotion to attract strong

consumer response.

Types of Buying Decision Behavior:

Buying behavior differs greatly for a tube of toothpaste, a tennis racket, financial

services and a new car. More complex decisions usually involve more buying

participants and more buyer deliberation.

Complex Buying Behavior:

Consumers undertake complex buying behavior when they are highly involved in

a purchase and perceive significant differences among brands. Consumers may be

highly involved when the product is expensive, risky, purchased infrequently, and highly

self-expressive. Typically the consumer has much to learn about the product category.

Dissonance-Reducing Buying Behavior:

Dissonance-reducing buying behavior occurs when consumers are highly involved

with an expensive, infrequently or risky purchases but see little difference among

brands.

After the purchase, consumers might experience post purchase dissonance when

they notice certain disadvantages of the purchased carpet brand or hear favorable


46/48

things about brands not purchased. To counter such dissonance, the marketers after-

sale communications should provide evidence and support to help consumers feel good

about their brand choices.

Habitual Buying Behavior:

Habitual Buying Behavior occurs under conditions of low consumer involvement

and little significant brand difference.

In such cases, consumer behavior does not pass through that usual belief attitude

behavior sequence. Consumers do not search extensively for information about the

brands, evaluate brand characteristics and make weighty decisions about which brands

to buy. Instead, they passively receive information as they watch television or read

magazines. Ad repetition creates brand familiarity rather than brand conviction.

Variety Seeking Buying Behavior:

Consumer undertakes variety seeking buying behavior in situations characterized

by low consumer involvement but significant perceived brand differences. In such cases,

consumers often do a lot of brand switching.

The Buyer Decision Process:

Now that we have looked at the influences that affect buyers, we are ready to

look at how consumers make buying decisions. The buyer decision process consists of

five stages: need recognition, information search, evaluation of alternatives,

purchase decision, and post purchase behavior. Clearly, the buying process starts

long before actual purchase and continues long after. Marketers need to focus on the

entire buying process rather that on just the purchase decision

Need Recognition

Information Search

Evaluation of Alternatives

Purchase Decision


47/48

Post Purchase Decision

BibliographyAuthor name book namePhilips Kotler Marketing Management

V.S. Ramaswamy & S. Namakumari Marketing Management-

-Planning & implementation

WEbliography

www.videoconindia.com
http://www.videoconindia.com/http://www.videoconindia.com/


48/48

www.google.comwww.answers.com
http://www.google.com/http://www.answers.com/http://www.google.com/http://www.answers.com/

A Survey on Videocon

Documents

Transcript of A Survey on Videocon