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Awareness and Concept of Microwave Oven as a product and Consumer Behavior in respect of LG brand

CHAPTER CONTENTS
Chapter 1 INTRODUCTION Objective of Study Scope of Study Methodology Statement of Problem Limitations Chapter 2 RESEARCH DESIGN Chapter 3 INDUSTRY PROFILE Consumer Durables Market Definition Market Analysis Problem of Indian Appliances Brand Success of Korean Brands in India
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Chapter 4 COMPANY PROFILE History Vision Branch Hierarchy Microwave Oven Industry -An Overview Chapter 5 PRODUCT PROFILE Chapter 6 DATA ANALYSIS & INTERPRETATION Chapter - 7 FINDINGS, SUGGESTIONS & CONCLUSION Appendix Questionnaires References

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Chapter 1 INTRODUCTION Objective of Study Scope of Study Methodology Statement of Problem Limitations

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Introduction
This project was designed keeping in mind the prime criterias as to the reasons of how and why a market condition is actually analysed. Analysis could not be enumerated on the basis of anticipations, but real statistics. Statistics which is based on product acceptance in any market and that too on the basis of certain segmentations. A product launched without a thorough market research is sure to face a disaster. This project would actually help in ascertaining certain facts which would help in understanding the actual reasons of the products upward or downward sales graph. The product which sees its consumer as a part of its origin dictates consumer behaviour, and hence market research of the given product would even reveal as to how a developed strategy would also yield avenues of a better sales graph. This project encircles round the queries of a consumer enquiring about questions of why he or she should take or not take the product. It also speaks of the accepted products comfortability. It would also talk about the acclimatization of the product with the consumer.

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Objective of Study
To find out the awareness level of Microwave ovens among the customers. To find out the most effective media for accelerating awareness level of Microwave ovens. To find the key factors for denial & acceptance of Microwave ovens. To find the reasons for low rate of acceptance for Microwave ovens. To find brand preference among consumers while purchasing Microwave Ovens. To find out consumer attitude towards LG brand among various other competitive brands lined up. To find which product category of LG is most popular among consumers and dealers. To find satisfaction level of persons who are already using LG brand. To find the key factors for stocking of LG products by the dealers.

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Scope of Study:
This study was conducted to find out the awareness of microwave ovens and consumer behaviour in respect of Electrolux brand, so the scope of this study is very wide. Microwave ovens as a product are still new in the market and yet to get its acceptance globally. People are Methodology: The study was qualitative in nature and based primarily on consumers opinion survey. Data source : Primary & Secondary. Research Approach : Descriptive Data (Survey Data & Observational & other data). Research instruments : Well structured questionnaires comprising of open and close ended questions. Sampling plan : All respondents surveyed were selected in Random order and the same were taken from Shimoga.

Statement of Problem
The nuclear intention in designing such a project was to understand factual benefits and acceptance of LG microwave oven or just could I speak of only a microwave oven. Its unawareness is a cause that it sells less. Its lesser sales statistics in North Eastern States evidently is a consequence of the reason that people here are adapted to their own life style and no new circumstantial changes are even accepted by this section.

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Nevertheless, a theory runs of change. Nothing in this world is absolute except the word itself. Hence an attempt is reconciled to put forth the fact that an acceptance of such kind of equipment actually can change life. The analysis of this subject would be an effort that however strong promotions could be its only important, how the niche or the requirement of that need is created and mankind faces erratic changes. He should envisage at a time that without a microwave oven, life could be possible but would be really difficult. The objective also speaks about just, not a requirement in a kitchen, but also its accessibility modes & availability in all sections of people. Life should never be categorized on the basis of a product that its not meant for us! It should be there, used proportionately to equate lifestyles and hence then the brand would reign in the kingdom called MARKET and hence it steps into an arena called SUCCESS. Specification is perhaps, a mirror which gives us clarity of thought in a right direction. If Microwave Oven has to spoken with consumer behaviour, lets take LG as the spokesperson amongst the hardcore loyalist who made LG directly proportional to microwave ovens, beyond several of its other products which it might be catering. The modernization in the concept, its acceptability in the global reach and its usage in the common made LG more of a bigger brand. Its technical viabilities are specific in accordance with Indian kitchen psychology. If a Pizza is absent on a snacks table, a Spicy Dhokla could also be there.

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Never mind brownies to be non prevalent in a coffee gossip, but plain bisque also could be served hot from a LG Microwave Oven. Hence the design, the models and overall study analysis would yield of certain additions or deletions or modifications, but underlying statement is LG microwave ovens should be more available and often seen in North Eastern kitchen. Sometimes, financial constraint comes out to be a reason that service class or if correctively spoken, the lower middle class finds it to be a hindrance in purchase. A dealer, at times comes out with schemes with companies, when they feel of an implementation of installments, which would catalyse sales. At times, even dealers, with the help of local finance companies comes up with interest less modes of installments. Then life becomes so easy! Packets of LG microwave ovens are seen more in the hands of obeying husbands followed by LG microwave ovens well understood by wives.

Limitations:
Lack of interest and enthusiastic responses may have allowed biases in this report. Test of sampling error could not be done due to the absence of data regarding the total population size. Correctness of this report is restricted and limited by the degree of authenticity of data collected and sincerity and honesty of respondents.

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Chapter 2 Research Design

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Research Design Research Methodology


The methodology adopted to accomplish this project was in accordance with the topic assigned. The study was based on data collected mainly from primary as well as secondary sources. Descriptive research methodology was adopted for the purpose of study.

Designing the Questionnaires


This study was conducted in five parts and accordingly questionnaires are also set categorically: Questionnaire for those who have microwave ovens Questionnaire for those who dont have microwave ovens Questionnaire for those who have used LG brand Questionnaire for the dealers The method adopted for developing the above mentioned questionnaires followed the following sequential order : Determining the objective of the project and specific data to be sought. Determining the process of interviewing. Scrutinizing the question content. Setting the response format. Setting the wording of the questions. Setting the questionnaire structure.

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Pre-testing, revising, redesigning and final draft. The questionnaires were prepared in consultation with the Company guide as well as the institutional guide.

Pre-Testing The Questionnaire


Before implementing the questionnaires in the field, it was pretested to avoid any ambiguous questions and to see the effectiveness of the questionnaires. For this reason a pilot survey with 10 consumers was conducted. After Pre-Testing it was found that, few questions were not apprehend able by the respondents; these were accordingly redesigned and revised so as to make them more understandable. Finally the questionnaires were printed and used in collecting responses for the survey.

Methods Of Collecting Data


The data was collected mostly from primary sources. During the period of this study I got the responsibility to give demonstrations to consumers and thus I got the opportunity to talk to the consumers directly and check their awareness level about microwave ovens. During my interactions with the consumers I always tried my best to make them understand that our local food habits are fully compatible with microwave ovens and tried to reveal various relative advantages of microwave cooking:

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Food cooks evenly, quickly and efficiently in the microwave. Also the nutrients are preserved and the actual taste of the food is retained higher degree. Only a minimum amount of oil is required for cooking continental as well as traditional Indian dishes and so it seems desirable from the health point of view. Also shorter and controlled cooking time means that the food does not get burnt or over-cooked. Food may be cooked and served in the same dish. Another major advantage is that food is cooked minus the smoke, grease and heat and so the kitchen remains neat and tidy always. Microwave has multifarious uses like de-frosting, re-heating, etc. to a

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Chapter 3 Industry Profile


Consumer Durables Market Definition Market Analysis Problem of Indian Appliances Brand Success of Korean Brands in India

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Industry Profile
Consumer Durables Consumer durables are the products whose life expectancy is at least 3 years. These products are hard goods that cannot be used up at once. The consumer durables sector can be segmented into consumer electronics, such as, VCD/DVD, home theatre, music players, color televisions (CTVs), etc. and white goods, such as, dish washers, air conditioners, water heaters, washing machines, refrigerators, etc India as emerging superpower is looked upon with great value. Factors of such exceptional growth have been the rise in income and extensive consumptions. Consequently, sectors like consumer durables are also growing at high rate. Experts have suggested that this sector is going to provide ample opportunities to young talents. Also, it is a secure sector as the consumer needs are never going to end. You can also carve your own ways in this sector; you just need to have passion to do so. We are there to guide you in blooming sector consumer durables and place you in world leading consumer durable company. Introduction Before the liberalization of the Indian economy, only a few companies like Kelvinator, Godrej, Allwyn, and Voltas were the major players in the consumer durables market, accounting for no less than 90% of the market. Then, after the liberalization, foreign players like LG, Sony, Samsung, Whirlpool, Daewoo, and Aiwa came into the picture.

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Today, these players control the major share of the consumer durables market. Consumer durables market is expected to grow at 10-15% in 2009-2010. It is growing very fast because of rise in living standards, easy access to consumer finance, and wide range of choice, as many foreign players are entering in the market. On the flip side, the presence of a large number of players in the consumer durables market sometimes results in excess supply.

Overview
Market Definition The consumer electronics market consists of the total revenues generated through the sale of audio, video, and games console products designed primarily for domestic use. The audio sector consists of hifi systems, cassette, CD, Mini disc and MP3 recorders and players, personal stereos, and radios. The video sector consists of CRT and flat-panel television sets, videocassette and DVD players and recorders (standalone and integrated with TV sets), camcorders, digital cameras, and set-top boxes. Games consoles consist of all hand-held and plug-in consoles. The market is valued at retail selling price (RSP) with any currency conversions calculated using constant 2006 annual average exchange rates. Asia-Pacific comprises Australia, China, Japan, India, Singapore, South Korea and Taiwan.

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Highlights The Indian Consumer Electronics market generated total revenues of $4.8 billion in 2010, this representing a compound annual growth rate (CAGR) of 11.1% for the period spanning 2002-2009.Video equipment sales proved the most lucrative for the Indian Consumer Electronics market in 2006, generating total revenues of $3 billion, equivalent to 80.8% of the market's overall value. The performance of the market is forecast to accelerate, with an anticipated CAGR of 5.4% for the 20062011 period expected to drive the market to a value of $4.9 billion by the end of 2011. Market Analysis The Indian Consumer Electronics market generated total revenues of $4.8 billion in 2010, this representing a compound annual growth rate (CAGR) of 11.1% for the period spanning 2002-2006. In comparison, the Chinese and Japanese markets grew with CAGRs of 11.8% and 15.7% over the same period, to reach respective values of $17.6 billion and $20.5 billion in 2010. Video equipment sales proved the most lucrative for the Indian Consumer Electronics market in 2010, generating total revenues of $3 billion, equivalent to 80.8% of the market's overall value. In comparison, sales of audio equipment generated revenues of $0.6 billion in 2010, equating to 14.9% of the market's aggregate revenues. The performance of the market is forecast to accelerate, with an anticipated CAGR of 5.4% for the 2006-2011 period expected to drive the market to a value of $4.9

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billion by the end of 2011. Comparatively, the Chinese and Japanese markets will grow with CAGRs of 9.2% and 7% respectively over the same period, to reach respective values of $27.4 billion and $28.6 billion in 2011. With the increase in income levels, easy availability of finance, increase in consumer awareness, and introduction of new models, the demand for consumer durables has increased significantly. Products like washing machines, air conditioners, microwave ovens, color televisions (CTVs) are no longer considered luxury items. However, there are still very few players in categories like vacuum cleaners, and dishwashers. Consumer durables sector is characterized by the emergence of MNCs, exchange offers, discounts, and intense competition. The market share of MNCs in consumer durables sector is 65%. MNC's major target is the growing middle class of India. MNCs offer superior technology to the consumers, whereas the Indian companies compete on the basis of firm grasp of the local market, their well-acknowledged brands, and hold over wide distribution network. However, the penetration level of the consumer durables is still low in India. An important factor behind low penetration is poor government spending on infrastructure. For example, the government spending is very less on electrification programs in rural areas. This factor discourages the consumer durables companies to market their products in rural areas. Some Facts, 1. Bargaining power of suppliers in consumer durables sector is limited due to threat of imports and intense competition.

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2. Some of the entry barriers in consumer durables sector are distribution network, capital, and ability to hire purchases. 3. Demand is seasonal and cyclical. 4. Competition among players is on the basis of difference in prices and well-acknowledged brands. Market Value The Indian consumer electronics market grew by 7.6% in 2010 to reach a value of$3.8 billion. The compound annual growth rate of the market in the period 2006-2010 was 11.1%. Table 1: India Consumer Electronics Market Value: $ billion, 2006-2010 Year 2006 2007 2008 2009 2010 $ billion 2.5 2.9 3.2 3.5 3.8 INR billion 109.2 126.8 141.7 154.7 166.5 % Growth 16.10% 11.80% 9.20% 7.60% 11.1%

CAGR, 2006-2010: Sector Outlook

There has been strong competition between the major MNCs like Samsung, LG, and Sony. According to isuppli Corporation (Applied Market Intelligence), country's fiscal policy has encouraged Indian consumer electronic industry. The reduction on import duty in the year 2005-06 has benefited many companies, such as Samsung, LG, and Sony. These companies import their premium end products from manufacturing facilities that are located outside India.
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Indian consumers are now replacing their existing appliances with frost-free refrigerators, split air conditioners, fully automatic washing machines, and color televisions (CTVs), which are boosting the sales in these categories. Some companies like. LG Electronics India Ltd. & Samsung Electronics Co. Ltd is now focusing on rural areas also. These companies are introducing gift schemes and providing easy finance to capture the consumer base in rural areas. Growth in 2009-10 Consumer Durables Air Conditioner Refrigerator Microwave Ovens Washing Machines Color Televisions (CTVs) Black & White Televisions VCDs Consumer Electronics (Overall) Growth 25-35% 25-30% 35% 10-20% 25-40% -25% 40% 15%

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Scope In terms of Purchasing Power Parity (PPP), India is the 4th largest economy in the world and is expected to overtake Japan in the near future to become the 3rd largest. Indian consumer goods market is expected to reach $400 billion by 2010. India has the youngest population amongst the major countries. There are a lot of young people in India in different income categories. Nearly two- thirds of its population is below the age of 35, and nearly 50 % is below 25. There are 56 million people in middle class, who are earning US$ 4,400- US$ 21,800 a year. And there are 6 million rich households in India. The upper-middle and highincome households in urban areas are expected to grow to 38.2 million in 2007 as against 14.6 million in 2000. -Current
Scenario

- Future Scenario Rural sector offers huge scope for consumer durables industry, as it accounts for 70% of the Indian population. Rural areas have the penetration level of only 2% and 0.5% for refrigerators and washing machines respectively. The urban market and the rural market are growing at the annual rates of 7%-10%and 25% respectively. The rural market is growing faster than the urban market. The urban market has now largely become a product replacement market.

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The bottom line is that Indian market is changing rapidly and is showing unprecedented business opportunity. Current Scenario The consumer durables market in India is valued at US $ 4.5 billions currently. In 2007, microwave ovens and air conditioners registered a growth of about 30%. Frost-free refrigerators have registered significant growth as many urban families are replacing their old refrigerators. Refrigerator sales amounted to 4.2 millions in 2006, whereas the production of the refrigerators went up by 17% as compared to the preceding year. Washing machines, which have always seen poor growth, have seen reasonable growth in 2006. More and more Indians are now buying electrical appliances due to change in electricity scenario. The penetration level of color televisions (CTVs) is expected to increase 3 times by 2008. According to National Council for Applied Economic Research (NCAER), Indian consumer class is growing at a fast rate. This in turn is benefiting the consumer durables Manufacturers. Future Scenario With easy availability of finance, emergence of double-income families, fall in prices due to increased competition, government support, growth of media, availability of disposable incomes, improvements in technology, reduction in customs duty, rise in temperatures, growth in

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consumer base of rural sector, the consumer durables industry is growing at a fast pace. Given these factors, a good growth is projected in the future, too. The penetration level of consumer durables is very low in India, as compared with other countries. This translates into vast unrealized potential. For example, in case of color televisions (CTVs), the penetration level of various countries is: India Brazil China US France Japan 24% 11% 98% 333% 235% 250%

Demand and Penetration Level of White Goods in India 1995-1996 Demand Penetration level 3.43 million 149 per 1,000 households 2005-2006 8.72 million 319 per 1,000 households 2009-2010 13.14 million 451 per 1,000 households

In a study conducted by Frost & Sullivan and commissioned by India Semiconductor Association (ISA), the demand for Electronic Appliances is projected to grow exponentially at a compounded annual growth rate (CAGR) of 30%.

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In billions

Rising India India, as one of the four BRIC nations, along with Brazil, Russia and China, is running an average of 7 percent annual economic growth, mostly driven by a growing IT sector. Some experts predict that India will become the world's largest economy by 2035. The economic reforms initiated by the government in the early 1990s have done much to boost the Indian economy, and it seems they have also transformed Indian consumer perceptions about CONSUMER GOODS.

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Huge Middle Class Demand Demand for consumer durables is set to grow 12-15 per cent a year in India over the next five years, helped by rising salaries and soaring aspirations among the nation's estimated 270 million middle class. LG -- which sells plasma color TVs, air-conditioners, refrigerators, washing machines, computers and mobile phones -- expects Indian sales to hit $1.9 billion in 2005, and reach $6.7 billion in 2010, up about 29 per cent each year. The appliance market in India is dominated by foreign brands. Korean brands, followed by American brands like Whirlpool, have replaced once-popular Indian names Samsung, Onida, BPL, Voltas, Kelvinator, and Godrej as brand leaders. Only Indias Videocon is perceived to be competitive with foreign brands. Problem of Indian Appliances Brand The problem with Indian appliances brands seems to be the perception that they have not delivered innovative products. Korean brands, in contrast, performed much better on this score while offering value-for-money products, and this has earned them the confidence of Indian consumers. Further, Indian appliance producers have not focused on harnessing the power of their brands by targeting smaller town markets and lower price points. At one time Indian appliance makers like Sumeet and other local brands garnered sales volume through bargains, discounts

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and exchange offers. When Chinese players entered the market with competitively priced products, due to their extremely low production costs, the Indian players lost ground here as well. The only appliance segment in which Indian brands continue to steadfastly rule the market is mixer-grinders/food processors, where Indian products are designed to meet unique Indian kitchen needs. Recognizing the fact that Indian brands need a wider product portfolio, Godrej, a traditional home appliance manufacturer, is making a foray into production of color TVs and DVD players. Mirc Electronics, a maker of Onida brand TVs, has moved into appliances with its washing machines and air-conditioners. Perhaps they are hoping to duplicate the success of Korean brands, which flooded the Indian market with a wide range of products, but it remains to be seen if Indian brands in the appliance segment will win back the confidence of Indian consumers.

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NEW LAUNCHES AND INNOVATION FUEL GROWTH Detergent-free washing machines, freestanding cooker hoods and microwaves helped drive growth as manufacturers targeted the premium end of the industry. Up to eight microwaves were launched in 2005 with LG Electronics India Pvt. Ltd. taking the lead. As Indian consumers became more sophisticated in their buying habits, companies were forced to bring in the latest products, designs and innovations to meet demand. Also interesting were the LPG-based and halogen heaters within the heating appliances range as LPG- bases heaters helped marketers to further expand their market into villages and smaller towns as well where electricity is still not frequently available.

SUCCESS OF KOREAN BRANDS IN INDIA


According to a recent survey conducted by GFK Marketing Services, one of the world's top-five market research companies, LG Electronics Inc. was found to lead in India's five major home appliances categories; Color televisions, Refrigerators, Washing machines, Air conditioners and Microwave ovens, during the April-June period. LG-brand air conditioners held a 41 percent market share, televisions 26.7 percent, refrigerators 29.4 percent, washing machines 35.1 percent and microwave ovens 38.9 percent. Televisions rose 2.3 percent, while refrigerators and washing machines rose 3.4 percent and 2.7 percent respectively, from a year ago.

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Swot Analysis Strengths 1. Presence of established distribution networks in both urban and rural areas 2. Presence of well-known brands. 3. In recent years, organized sector has increased its share in the market vis a vis the unorganized sector. Weaknesses 1. Demand is seasonal and is high during festive season 2. Demand is dependent on good monsoons 3. Poor government spending on infrastructure 4. Low purchasing power of consumers Opportunities 1. In India, the penetration level of white goods is lower as compared to other developing countries. 2. Unexploited rural market 3. Rapid urbanization. 4. Increase in income levels, i.e. increase in purchasing power of consumers 5. Easy availability of finance. Threats. 1. Higher import duties on raw materials imposed in the Budget 2009-10 2. Cheap imports from Singapore, China and other Asian countries

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Chapter 4 Company Profile


History Vision Branch Hierarchy Microwave Oven Industry -An Overview

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Company Profile History


LG Group is a large South Korean chaebol (conglomerate), which produces electronics (including domotics), mobile phones and petrochemical products and operates subsidiaries like LG Electronics. The company was originally established in 1958 as GoldStar, producing radios, TVs, refrigerators, washing machines, and air conditioners. The LG Group was a merger of two Korean companies, Lucky and GoldStar, from which the abbreviation of LG was derived. The current "Life's Good slogan is a backronym. Before the corporate name change to LG, household products were sold under the brand name of Lucky, while electronic products were sold under the brand name of GoldStar (Hangul:). Based in South Korea, LG Electronics (LGE) had a global turnover of US$ 29.9 billion in 2003 . LGE has 50 affiliated companies across the globe, with 300 offices and presence in 120 countries. With over 64,000 employees, it focuses on four main businesses - Electronics and Telecommunications, Services, Finance and Chemicals. LGE has 20 R&D centers worldwide and has subsidiaries in 76 countries. Created in 1947 as "Lucky-Goldstar", it assumed the abbreviated name of "LG" in 1995. LG is also an abbreviation of "Lucky Geumseong" in South Korea, which is translated into English as Lucky Venus (Goldstar). Before then, many electronic products were sold under

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the brand name Goldstar, while some other household products (not available outside South Korea) were sold under the brand name of Lucky. The Lucky brand was famous for producing household cleaning products and laundry detergents in South Korea. Before massive industrialization of South Korean society, the name Lucky was synonymous with toothpaste. Since 2001, LG has two joint ventures with Royal Philips Electronics: LG Philips Display and LG.Philips LCD. LG has made a joint venture with Nortel Networks and has created LG-Nortel Co. Ltd. LG also has a joint venture with Hitachi which manufactures optical data storage solutions like DVD-ROM drives, CD writers, etc. LG has owned the LG Twins baseball club since 1989. LG acquired a majority share of the American television manufacturing company Zenith in 1995.

LG INDIA
LG Electronics India Pvt. Ltd., a wholly owned subsidiary of LG Electronics, South Korea was established in January, 1997 after clearance from the Foreign Investment Promotion Board (FIPB). The trend of beating industry norms started with the fastest evernationwide launch by LG in a period of 4 and 1/2 months with the commencement of operations in May 1997. LG set up a state-of-the art manufacturing facility at Greater Noida, near Delhi, in 1998, with an

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investment of Rs 500 Crores. This facility manufactured Colour Televisions, Washing Machines, Air-Conditioners and Microwave Ovens. During the year 2001, LG also commenced the home production for its eco-friendly Refrigerators and established its assembly line for its PC Monitors at its Greater Noida manufacturing unit. The beginning of 2003 saw the roll out of the first locally manufactured Direct Cool Refrigerator from the plant at Greater Noida. In 2004, LGEIL also up its second Greenfield manufacturing unit in Pune, Maharashtra that commences operations in October this year. Covering over 50 acres, the facility manufactures Color Televisions, Air Conditioners, Refrigerators, Washing Machines Microwave Ovens Color Monitors and GSM phones. The Greater Noida manufacturing unit line has been designed with the latest technologies at par with international standards at Korea and is one of the most Eco-friendly units amongst all LG manufacturing plants in the world. Established in 1997, LG Electronics India (LGEI) is a whollyowned subsidiary of LG Electronics South Korea. It is one of the leading companies in consumer electronics, home appliances and computer peripherals in India. It has a turnover of almost US$ 1000 million in India. LGEIs sales are increasing with a CAGR of 40 % over the past five years.

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LG

is the market

leader

in

various segments

like CTVs,

Microwave ovens, Frost-Free Refrigerators, Washing Machines and AirConditioners, with market shares of 26.2 percent, 41.2 percent, 37.9 percent, 34.1 percent and 34 percent respectively. LG Electronics India received the Occupational Health & Safety Management System OHSAS 18001:1999 certification from the British Standards Institution (BSI), India, for a systematic approach towards Occupational Health and Safety Management. Various studies have shown that the consumer is well informed on the health awareness front. LG was one of the first companies who recognized the emerging change in consumer needs and decided to differentiate their products on the basis of technology which appealed to the consumer on the basis of health benefits. Its vision was to become a 'Health Partner' for its consumers worldwide and therefore formulated its corporate philosophy to make peoples' lives better, convenient and healthier The CTV range offered by LG has 'Golden Eye' technology, which senses the light levels in the room and adjusts the picture to make it more comfortable for the eyes. The entire range of LG air-conditioners have 'Health Air System', which not just cools, but keeps pollution out. Similarly, microwave ovens have the 'Health Wave System', refrigerators have the 'PN System', which preserve the nutrition in food and washing

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machines have 'Fabricare System', which takes the health factor down to ones clothes. All the products offered by the company have unique technologies, developed by its R&D departments that give customers a healthier environment to live-in. The year 2001 witnessed LG becoming the fastest growing company in the consumer electronics, home appliances and computer peripherals industry. The company had till the month of October 2001 achieved a cumulative turnover of Rs 5000 Crores in India since its inception in 1997, making it the fastest ever Rs 5000 Crores clocked by any company in the Indian consumer electronics and home appliances industry. Having achieved this milestone, LG achieved another benchmark with the first ever sales of One Lakh ACs (Windows and Splits) in a calendar year. In Colour Televisions having set the sales target of one million units of Color Televisions for 2002, LG has already achieved the one million mark in the month ahead of its target. In 2003, LG has emerged as the leader in Colour Televisions, Washing Machines, Air Conditioners, Frost-Free Refrigerators and Microwaves Ovens. In the year 2004, LGEIL achieved unprecedented sales efficiency both in Direct Cool and Frost Free segment and sold more than 1 million units of refrigerators outperforming industry expectations. LG Electronics India is the fastest growing company in the consumer electronics, home appliances and computer peripherals industry today.

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LG Electronics is continually providing superior technology products & value for money to more than 50 lakh households in India. The company has achieved a turnover of Rs 6500 crore in 2004 and aims to touch a turnover of 10 Billion US Dollars by 2010 and commands an enviable position in the GSM mobile phone market. It has already started manufacturing of GSM phones in its plant at Pune. LG India has also been taking on a slew of initiatives as a part of Corporate Social Responsibility. LGEIL is proud to have adopted about 24 villages around our Greater Noida facility. LG extends Free Medical Care, which comprises of free check ups and a free distribution of medicines on a daily basis. LGEIL is also generating self-employment opportunities for the people in the form of tailoring, knitting etc. in addition to all this, LG also sends veterinary doctors regularly to these villages. Besides all this, LG India is one of the very few companies in the country that has an internal Energy, Environment, Safety and Health Department. This function caters to activities like Energy Conservation, Environmental Issues, Work Place Fire and Safety as well as Occupational Health for the benefit of the employees.

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LG BENEFITS: LG delivers a different experience

LG: THE PERSONALITY LG is delightful

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Branch Hierarchy

Branch Manager

Branch Accountant

Service

Sales

Logistics

Marketing

Area Manager (GWH)

Area Manager (Lower Assam)

Area Manager (Silchar)

Area Manager (Jorhat)

Product Managers

Marketing Managers

Marketing Co-Ordinator

MWO Chef / HWE

SSE & ISD

VISION :

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LG has a positive perception of India and the Indian consumer. LG is making a foray into the e-commerce market in India and has partnered with various local websites like fabmall.com, rediff.com, indiatimes.com, and indiaplaza.com. Secondly launching and home appliances . Thirdly LGEIL is implementing a digital manufacturing system (DMS) as a cost-cutting innovation. This system is a follow-up to the Six Sigma exercise LGEIL had initiated earlier. LG is also planning to invest over US$ 208 million in India over the next three years to expand development is also on LGs agenda. the business. Mobile software of new technologies in consumer electronics

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MICROWAVE OVEN MICROWAVE OVEN INDUSTRY ---AN OVERVIEW. Even as a host of electronic products made rapids inroads into Indian homes in the last decade, the microwave oven an essential item in every kitchen in developed countries-did not. Homemakers preferred to make do with their gas stoves, tawas and pressure cookers. Last year was different though. The microwave oven market jumped as much as 25 percent to about 2.4 lakh units. This is still a fraction of the colour television market, which stands at over 6 million units, but going by the current level of activity, microwaves in India appear set to go the global way. A combination of factors has brought the market alive. Leading players like Samsung, LG, Whirlpool and Electrolux have introduced a range of models, with prices of entry level ones coming down to below Rs 6,000 last year. Many local players are sourcing products from China and selling it here at very attractive rates. LG, Samsung , Electrolux are also making determined efforts to get the homemaker to see the microwave as a cooking device, rather than as a mere reheating one, by holding country-wide cookery classes and home demonstrations.

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Some has also customized microwaves to Indian conditionsthere are, for instance, Whirlpool microwaves that seek to replicate the tawa effect to make Indian items like parathas and crisp dosas, and those which enable steam cooking for items like idlis and dhoklas. Innovations are also making the product look increasingly attractive. The longstanding concern that microwaves destroy a lot of valuable nutrients, far more than other forms of cooking, is being sought to be addressed technologically. Samsung claims its patented bio ceramic enamel coating helps retain essential vitamins while cooking. With the increased purchasing power of the younger generation and with more and more women balancing home and careers, any product that provide convenience and saves time will be well accepted in time to come. As for the companies, with competition heating up with increasing capacities and players, companies with the ability to cater the requirements of middle income households and with a certain level of indigenous know-how will emerge winners in this cluttered market.

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Chapter 5 Product Profile

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Product Profile
During a radar-related research project in 1946 that Dr. Percy Spencer, engineer with the Raytheon Corporation, noticed something very unusual. He was testing a new vacuum tube called a magnetron when he discovered that the candy bar in his pocket had melted. This intrigued Dr. Spencer, so he tried another experiment. This time he placed some popcorn kernels near the tube and, perhaps standing a little farther away, he watched with an inventive sparkle in his eye as the popcorn sputtered, cracked and popped all over his lab. In 1946, the Raytheon Company had filed a patent proposing that microwaves be used to cook food. An oven was then placed in a Boston restaurant for testing. At last, in 1947, the first commercial microwave oven hit the market. These primitive units where gigantic and enormously expensive, standing 5 1/2 feet tall, and costing about $5000 each. The magnetron tube had to be water-cooled, so plumbing installations were also required. WHAT ARE MICROWAVES? Microwaves are a means of transferring energy through space. They are a form of electromagnetic energy , like light waves or radio waves, and occupy a part of the electromagnetic spectrum. Microwaves are used to relay longdistance telephone signals, television programs and computer information across the earth or to a satellite in space. They are used to detect speeding cars.

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Microwave is perhaps the most familiar as the energy source for cooking food. Electromagnetic radiation exists in a range of frequencies called the electromagnetic spectrum. Each frequency has a specific wavelength and as the frequency decreases, the actual length of the wave gets longer. As the frequency of the wave changes, their property also undergoes a change. For instance, as the frequency increases to 1000 MHz [1000 x 10], you get infrared heat. As the frequency increases further, we get visible light, up to [(4237320 x (10) MHz. The frequency of domestic microwave ovens is standardized at 2450 MHz, which is equal to 245 x 10. PROPERTIES OF A MICROWAVE AT FREQUENCY OF 2450 MHz: Can pass through anything but metal. Gets reflected by metal. Acts on moisture and fats [vibration @ (2450 x 10) ] times per second. HOW A MICROWAVE OVEN WORKS. To put it briefly, microwaves penetrate food directly raising its temperature and resulting in its cooking.

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The cooking takes place through the process of reversal of polarity in the following manner : All wave energy changes polarity from positive to negative with each cycle of the wave. In microwaves, these polarity changes happen millions of time every second. Food molecules especially the molecules of water have a positive and negative end, in the same way a bar magnet has a north pole and a south pole. When microwaves at the right frequency bombard food, they cause the polar molecules to vibrate at the same frequency, millions of times a second. All this agitation at the molecular level creates friction, which heats up the food. The microwaves pass through the container [which is generally of glass, plastic or paper] and, therefore, only the food is heated. The microwaves are:Generated by the magnetron, Transmitted down the waveguide, Reflected off the wall of the microwave ovens cavity, and Disturbed evenly in the oven cavity to cook the food. METHODS OF COOKING.

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Transfer of energy to heat food can occur in three different ways : Conduction : Conduction occurs when there is a direct contact with a heat source such as a burner on a gas or electric stove. As the stoves burner gets hot, the heat is transferred through the pan sitting on the burner via conductor and then transferred through to the food inside the pan. Convection : Convection occurs when rising [of fan assisted ] hot air or steam circulates in an enclosed area such as a gas or electric oven. When the air surrounding the food heats up, this heat is passed first to the foods outer layers and then progressively to its inner ones. Radiation : Radiation occurs when electromagnetic heat waves flow through space. In this case, heating is caused mainly by the vibration of water molecules in the food. So, microwave ovens produce heat directly inside the food, heating is more evenly and more quickly than conventional ovens. Microwaves ovens cook food by radiation and by conduction and in some brands of microwaves by convection too. Once in the ovens cavity, microwaves actually penetrate the food upto a depth of 1.5 inch, depending on the density of the food and the amount of the food that is in

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the oven. The centre of thicker foods may not be affected by the radiation and therefore only become cooked as the heat conducts to the centre. Broadly, a microwave oven works as follows: A vacuum tube called magnetron is electrically activated and generates these microwaves with a frequency of 2450 megacycles per second or 2.45 GHz. The microwaves are directed through waveguides to be effectively distributed in the oven cavity. The microwaves then reflect off the walls of the ovens interior and are absorbed by molecules in the food. Because each wave has a positive and negative component, the molecules in the food are back and forth at the rate of the microwave frequency. Conventional Vs. Microwave Cooking Conventional Microwave

Layer-by-layer, outside to inside Cooking through Oil More usage of Oil/Ghee More time consuming & tiring Separate utensils for cooking & serving Spoils the kitchen wall with sprinkling of oil Nutritional Value of GFGC, Shivamoggathe food is lost due to longer cooking

Even cooking, inside to outside

Cooking through Water molecules Less Oily food Less time consuming & enjoyable Same utensils can be used to cook & serve Non- messy , more neat & clean kitchen walls Nutritional Value of the food is 45 preserved

What all can be done in a MWO?


Cooking Warming/ Simmering Re-heating Roasting Baking Defrosting QUALITY OF COOKING Uniform and even cooking. Research has proved that it preserves 90% of nutrients and vitamins, and retained foods natural colour and flavor all contributing to a healthy meal. All frozen food can be quickly and effectively thawed before cooking so that the taste, colour and flavor are not lost while cooking. Cooking is optimum accurate due to precise control over duration and temperature. SAVING OF TIME Faster cooking. You dont have to spent time in front of the oven stirring the food and adjusting the flame, thus saving a lot of cooking time and your own time. Faster cooking means saving on electricity bills.

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CONVIENENCE AND COMFORT No smoke and no condensation in the kitchen. Since, temperature and cooking time are precisely programmed, there is no sweating near flame and heat and there is saving of immense time and energy. The container does not get hot. HEALTH AND HYGIENE Requires very little oil which means low fat food and low cholesterol. Retains taste, freshness and natural nutrients in food. SAFETY WHILE COOKING: Since it does not deal with any kind of flame, there is no risks of accidents or burn injuries. Similarly, there is no risk of accidents involving gas cylinders and pressure regulator valves.

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LG MICRO OVEN MODELS

Capacity : 28Ltr Electrical Input(Microwave) :1350W Cavity type : Stainless Steel Price : Rs. 16,090 LG Microwave Oven Convection MC-7840UL Capacity : 28Ltr Electrical Input(Microwave) :1350W Cavity type : Stainless Steel Price : Rs. 13,590 LG Microwave Oven Convection MC-7880PSR Capacity : 30Ltr Electrical Input(Microwave) :1350W Cavity type : Stainless Steel Price : Rs. 16,090 LG Microwave Oven Convection MC-8041PVR

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Capacity : 30Ltr Electrical Input(Microwave) :1350W Cavity type : Stainless Steel Price : Rs. 15,690 LG Microwave Oven Convection MC-8081ALR Capacity : 30Ltr Electrical Input(Microwave) :1350W Cavity type : Stainless Steel Price : Rs. 16,490 LG Microwave Oven Convection MC-8082PRR Capacity : 30Ltr Electrical Input(Microwave) :1350W Cavity type : Stainless Steel Price : Rs. 17,290 LG Microwave Oven Convection MC-8091HLQ Capacity : 31Ltr Electrical Input(Microwave) :1500W Cavity type : Stainless Steel Price : Rs. 20,490 LG Microwave Oven Convection MC-8188HRC

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Capacity : 30Ltr Electrical Input(Microwave) :1350W Cavity type : Stainless Steel Price : Rs. 13,990 LG Microwave Oven Convection MC-8040NSR

LG Microwave Oven Convection MC 8080PRR

Capacity : 30Ltr Electrical Input(Microwave) :900W Cavity type : Stainless Steel Price : Rs. 16,090 Capacity : 30Ltr Electrical Input(Microwave) :900W Cavity type : Stainless Steel Price : Rs. 16,090 Capacity : 30Ltr Electrical Input(Microwave) :900W Cavity type : Stainless Steel Price : Rs. 16,090 Capacity : 30Ltr Electrical Input(Microwave) :900W Cavity type : Stainless Steel Price : Rs. 16,090

LG Microwave Oven Convection MC 8088NRH

LG Microwave Oven Convection MC 8089TLR

LG Microwave Oven Convection MC 8087ABR

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LG Microwave Oven Convection MC 8048WR

Capacity : 30Ltr Electrical Input(Microwave) :900W Cavity type : Stainless Steel Price : Rs. 16,090 Capacity : 26Ltr Electrical Input(Microwave) :900W Cavity type : Stainless Steel Price : Rs. 16,090 Capacity : 26Ltr Electrical Input(Microwave) :900W Cavity type : Stainless Steel Price : Rs. 16,090 Capacity : 26Ltr Electrical Input(Microwave) :900W Cavity type : Stainless Steel Price : Rs. 16,090

LG Microwave Oven Convection MC 7689MSR

LG Microwave Oven Convection MC 7647UL

LG Microwave Oven Convection MC 7649DW

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Latest Microwave Oven Models Launched By LG

Specification and Price of LG Microwave Oven MC7880PSR Convection Model

Key Features:LG microwave oven model MC-7880PSR is of convection type, with a capacity of 28Liters. It has a stainless steel cavity which ensures better reflection and uniform heating inside the cavity. It is easier to clean and unlike coated material cavity there is no peel off problem. The light disinfect feature in LG microwave oven model MC7880PSR helps in cleaning the cavity clean and keeping it hygienic and germ-free at the touch of a button. This article focuses its discussion on MH-6589DRL LG Microwave Oven price and its detailed specifications. Key Features:LG microwave oven model MH-6589DRL is of grill type, with a capacity of 23Liters. It has a humidity sensor which detects the level of humidity inside the microwave oven and adjusts the cooking time and weight accordingly. The light disinfect feature in LG microwave oven model MH-6589DRL helps in cleaning the cavity clean and keeping it hygienic and germ-free at the touch of a button. This

Price and Specification of LG Microwave Oven MH6589DRL Grill Model

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model comes with a steam chef which is especially designed for low calorie cooking. It is also equipped with 52 auto cook menu. The next step guide will help you in locating the next button that has to be pressed. Key Features:LG MP-9889FCR microwave oven is of Solar Dom type, with a capacity of 38Liters. It has a stainless steel cavity which ensures better reflection and uniform heating inside the cavity. It is easier to clean and unlike coated material cavity there is no peel off problem. The light disinfect feature helps in cleaning the cavity clean Key Features:LG MS-2348BS microwave oven is of solo type, with a capacity of 23Liters. It uses the Intellowave technology which enables faster and healthier cooking by circulating microwaves. It comes with 32 auto cook menu. The anti bacteria cavity

LG MP-9889FCR Solar Dom Microwave Oven

LG

MS-2348BS Microwave Oven

Solo

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Feature At one touch, the MWO operates at 900 W level at 30 sec pulses.

Benefit Helps in reheating purposes.

Fast Cook

5 Power Levels

The output Power Levels can be adjusted at 100%, 80%, 60%,40% and 20% according to the food being cooked Once the child lock is pressed, the panel cannot be tampered with.

Utilizes optimum power and helps in saving the power being consumed.

Protects the panel from being tampered by the child.

Child Lock

Intellowave Technology

This unique technology has a revolutionary wave guide that transforms ordinary waves into 3Dimentional hot pockets.

This ensures that food is cooked from all sides leading to even and uniform cooking.

More Usable Space, Easier to clean Speed Cooking


Round Cavity

LG MWO wider turntable.


LG Competition

Enables you to place a bigger dish or two dishes at the same time .

Bigger Turn Table

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Indian Auto Cook

Select programmed Indian recipes. One touch operation.

Faster and easier cooking of day today recipes.

Diet Cook

Indicates the calories depending on the weight and type of food cooked.

Enables the monitoring of calorie intake.

Intello Custom Cook

One can feed the settings of the favorite recipes once.

Helps easier cooking of food cooked everyday. The cavity is round from the inside and not square like other cavities

AutoBake

Preset Programs for baking Pizza, Baked Vegetables, Cake and Cookies Combination cooking options like M+G or M+C, depending on the type of food being cooked.

One touch option for baking. Just need to enter weights.

Combination Cooking

Better cooking of the food due to the combination options.

Adjustable Tray heights with high and low tray stands.


High Rack Low Rack

Better Grilling of food like Pizzas etc where the crust has to be crisp.

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Chapter 6 Data Analysis & Interpretation

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Data Analysis & Interpretation Introduction


The actual fact seen in the process of executing this project was a social, behavioral, psychographic & economic segmented reason. The area, under persistent development is really lagging behind in its social & behavioral potentials. A lay back attitude or perhaps a life not harnessed by restricted Professionalism has been a curse to bridge such gap, a venedicta aroused with the psychological variances of people. The mass may seem to adapt changes, yet the nominal value of their thoughts & ideologies if given a priority also would be seen that the social status may have improvised but the behavioral patterns would not coordinate with the rest of parameters.

Survey Method
a) Personal Interviewing The entire project has been divided into five different parts : Analysis for those who have microwave ovens. Analysis for those who dont have microwave ovens. Analysis for those who have used LG brand. Analysis for the dealers.

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Analysis for those who dont have microwave ovens Q1. Are you aware of the concept & benefits of Microwave ovens? OBJECTIVE: Thorough this question an attempt was made to gauge the awareness level of Microwave ovens among respondents of different various categories. ANALYSIS : YES 85% NO 17%

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A direct analysis proves us of the statistics is that a great percentage of people are aware of the Microwave Oven, with negligent being unaware. Here the question lies that if 85% of people say that they know Microwave Oven benefits then why are not inclined towards buying and accepting. May be the further questioning helps us to find such answers? Amongst 85% who claims of awareness of Microwave Ovens, psychology, behavioral strategy & economy would sectorise their decisions in purchasing.

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Q2. How did you come to know about Microwave Ovens for the first time? OBJECTIVE: Through this question an attempt was made to find out, which is the most effective media for crating awareness of Microwave ovens? ANALYSIS: Television. Friends & Relatives. Exhibitions & MWO Demo. Newspapers. Negative. 16% 23% 31% 30% 0%

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It is seen & proved that a visual display procures 16 % in influencing a brain work in deciding factors. What seems interesting sells exciting and hence electronic media plays vitally in psycho type in inclining an individual towards any product. The 23% friends and relatives concerns to a great extent as they are also partial percentage of media who disburse & distribute their views. Nevertheless, a nearest friend on the psychology that he would not misguide his friend, would also mould the former psychology to be a part of the same brand as the later. Exhibitions & newspapers actually also helps in building mental brainwork in decisions making ability. An exhibition exhilarates a circumstantial camp that may or may not linger for a long time. Hence, exhibitions live MWO Demo, under any circumstances play in decision making factors at initial glance.

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Q3. Which is the criteria for why should you go for a microwave oven? OBJECTIVE: By asking this question an attempt was made to find out which is the most instigating factor, for why should one go for a Microwave Oven. ANALYSIS: Time saving. Healthy method of cooking. Compact kitchen utility. Energy saving. Want. Necessity. 52% 18% 9% 9% 6% 6%

ANALYSIS:

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Health consciousness is the prime time reason why an individual invests money on anything. Health reasons are as vital as a persons question of being healthy would mean, he promotes more that on using such of a brand, and he is still healthy. But a major percentage (52%) said about time saving as this is a key factor in todays cat & mice run scenario. Everyone running in todays world is whip lashed by an invisible demon, and that too, after money. For that reason, Microwave Oven may have helped them easy cooking & time saving. Though a nominal percentage spoke about necessity, the same crowd spoke about as a status symbol. This means that this percentage is actually unaware of the true benefits of such products. A kitchen in concept or energy saving would be talked about only on the statistics when one owns a product only then he would come to know about what is important. Time Saving or Healthy Cooking, I believe both. Any strategy, which would mould the aforementioned category into one, more than 60% comes with LG Microwave Ovens.

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Q4. A microwave oven is of more utility to the children category as Well as for working mothers? OBJECTIVE: Through this question an attempt was made to check whether people think that the need of Microwave oven is only for children category and working mothers. ANALYSIS: Agree Disagree. 74 % 26 %

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The higher 74 % of the people, though agree to the query, but then its also to be understood that most of the feminine category are non professionals. Working mothers are lesser as compared to other metros, in North East. That is the only reason that the rest of 26% with the former percentage deny the equipment to be user friendly. Psycho graphical statistics would reveal that the main reason of the equipments defiance as user friendly is unawareness & non professional approach in daily module. The question briefs us of a clear picture that the actual benefits of this product is not demonstrated or acknowledged very well. Else there is no reason of any category of people of denial to good life, healthy food and time saving method.

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Qs5. If you think of even buying a microwave oven what brand should you think you buy one? OBJECTIVE: Through this question, an attempt was made to check the brand inclination level, while one decides of purchasing a Microwave oven. ANALYSIS:
IF YOU THINK OF EVEN BUYING A MICROWAVE OVEN WHAT BRAND SHOULD YOU THINK YOU BUY ONE LG 11% 0% 5% 0% 5% IFB SAMSUNG ELECTROLUX GODREJ 52% 24% 3% TCL KENSTAR ONIDA BAJAJ WHIRLPOOL

52% spoke of LG, as Brand Pull theory run in full in this brand. As, we can see that mostly people are interested to buy LGs MWO, not just by looking into the brand but the USPs and invincible technology used in LG MWOs ,it can also be seen that because of continuous promotions and awareness made , modules or any other factors must have made LG hard core consumer loyalist.

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Qs6. Which brand of Microwave oven you currently own? OBJECTIVE: Through this question we tried to find out, which brand of Microwave oven is mostly owned by people. An attempt was also made to check if there is any brand pulling while purchasing a microwave oven. ANALYSIS: LG IFB Samsung Electrolux Godrej TCL 18 0 8 6 0 1 Kenstar Onida Bajaj Whirlpool Others 1 3 0 0 2

WHICH BRAND OF MICROWAVE OVEN YOU CURRENTLY OWN 0% 8% 3% 0% 3% 15% 21% 0% c 45% LG IFB SAMSUNG ELECTROLUX GODREJ TCL KENSTAR ONIDA BAJAJ WHIRLPOOL OTHERS

0%

5%

From the above diagram, it is clearly seen that LG with 45% people owing its Microwave oven is leading the market and then comes Samsung 21%, Electrolux with 15 % & others 34% respectively

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Q7. Are you satisfied with the model and design of the Microwave Oven? OBJECTIVE: This is to check, whether people are satisfied with the model & design of Microwave oven they are currently using. ANALYSIS: Yes No 88% 12%

A negligible percentage owes a problematic reflection in the manufacturing models of the brand. Although a greater percentage speaks about satisfaction, but then for a wide coverage, the 12 percent cant also be denied. Satisfactory peripherals vary from man to man, yet as a compatible competency, the company should hold authority in refining & redefining model making strategy. Henceforth we can look forward for a better, brighten future ahead, in respect of business.

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Q8. The new models could be made handier on table top on Kitchens? OBJECTIVE: Through this question an attempt was made to check, whether people want certain changes in the model and design of Microwave ovens. ANALYSIS: YES NO 96% 4%

96% 100% 80% 60% 40% 20% 0% Y ES N O 4%

96% expects of a fine model , technically perfect & steel body , which does not give the model a posh look , consumers spoke of a fiber coated body which would seem shock resistant , though steel bodies are also the same , but even then , a fibre body looks more safe as they seem to be bad conductors of electricity. Few of them even spoke of an elegantly sleek remake of current models. Expectations rise high in consumer market , but if a synopsis is taken out of all anticipations perhaps a makeover could be done on such a model and a new launch with a new look may create an added hype in consumer behavioral policies.

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Q9. Are you satisfied with the after sales service? OBJECTIVE: This is to enquire that, whether people are satisfied with the after sales service provided by their respective Microwave oven manufacturer. ANALYSIS: YES NO 70% 30%

The after sales service is a sector which is not monitored well in most of the organizations. Media hype, promotions, advertisements and all other tall claims rendered and a product is sold. But what after the product is sold and reached home of that person, who was tapped & motivated so badly that at one point of time, it was compulsion which made the deal crack. No one even bother to call back and ask him whether he is comfortable with the product. His target is achieved on selling one unit & the story ended here according to the sales department.

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Q10. What is the key reason of buying a microwave oven, if you happen to buy one? OBJECTIVE: Through this question, an attempt was made to see, which is the key reason, for why should one go for a Microwave Oven. ANALYSIS:
Economically viable 2 8% Time feasible Health concious 10 12 40% 48% Making an independent family in terms of cooking Total 1 25 4% 100%

4 8% 50% 40% 30% 20% 10% 0 % E O O IC LLYV B C N M A IA LE TIM F A IB E E ES L H A HC N IO S E LT O C U M K GA IN E E D N F M YINTE M O C O IN A IN N D P N E T A IL R S F O K G 8 % 4 % 40 %

48% spoke of health consciousness as it would help a person restrict his diet & simultaneously pamper his palate in a healthy way. 40% (time feasible) who spoke about feasibility with respect to time is also one reason who boasts about their stringent work schedule , but it is also observed that these section also likes to be independent at their kitchen outfit as well as health conscious. The whole mileage is wrapped to that slot who would diversify for buying a Microwave Oven for irrespective reasons , but the goal is one organized life.

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Analysis for the dealers Qs1. Do you keep stock of LG products? (Yes/No) ANALYSIS: YES 93% NO 7%

7% penetrated to the issue of denying as they spoke of poor after sales services and hence, are scared to keep such products which may bring irritant customers in the long run. 93% spoke about proud ambassador of the brand and they boast to be associated with the name.

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Qs2. If Yes, What made you decide to join hands with LG? OBJECTIVE: This is to find out, which factors influence the dealers to join hands with LG. ANALYSIS:
EASY ACCESSIBILITY TO THE MARKET 5 31.25 BRAND 6 37.5 Better Business Opportunities 4 25

40 35 30 25 20 15 10 5 0

37.5 31.25 25 Series2

EASY ACCESSIBILITY TO THE MARKET

BRAND

Better Business Oppurtunities

73% spoke of Brand and a negligible 27% spoke of Easy accessibility to the market. This shows that dealers carry Electrolux products because of its brand image. The brand image of LG is enhanced when it associated the Green Ion Door Cooling (i.e LG) with it. LG is having a very strong brand image in Indian market, so it obviously helped LG in brand making strategy.

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Qs3. Are you satisfied to carry LG products? (If Yes, Why) (If No, Why) OBJECTIVE: With this question, an attempt was made to find out, what are the instigating factors that made dealers to sell LG products. ANALYSIS : Pricing 14 16 Updated product design 2 16 Promotional strategies 5 16 Suitable schemes 8 16

From the above diagram it is seen that, out of 16 dealers interviewed, 14 are happy with pricing and then comes suitable schemes & promotional strategies updated product design.

14 12 10 8 6 4 2 0

14 PRICING

UPDATED PRODUCT DESIGN PROMOTIONAL STRATEGIES SUITABLE SCHEMES

PRICING

UPDATED PRODUCT DESIGN

PROMOTIONAL STRATEGIES

SUITABLE SCHEMES

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Chapter - 7 Findings, Suggestions & Conclusion

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Findings, Suggestions and Conclusion


Findings A direct analysis proves that a great percentage of people are aware of microwave ovens but peoples perception about this product is not to the expectation. It is found that newspapers & live MWO Demo as a medium of advertisement, friends &relatives & promotion procures a higher percentage in influencing a brain work in deciding factors.

It is seen that a higher percentage of people prefer cooking in microwave ovens as it cooks food in quick span of time (time saving) and retains the nutritional value of food (healthy method of cooking).

It is also seen that people from higher income group and in the age group of 26-40 years (mostly working mother category) prefer cooking in microwave ovens.

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It is also found that people are still very reluctant to accept modernism and like to continue with the conventional methodology of cooking. Among various product category of LG, CTVs, Washing Machines, Refrigerators and Air Conditioners are more popular among consumers and dealers.

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Suggestions

Although people are aware of microwave ovens but their perception level about this product is still not satisfactory. So to improve this perception level, more live demonstrations of the products must be arranged. Company should also take care of the cost, reducing which would build upward graph of acceptance of product. It is seen that LG as a brand is popular for its CTVs, Washing Machines, Refrigerators and then ACs, so LG should spend more to increase the popularity of its other range of products (i.e. LCDs , Front Load Washing Machines, DVDs & MWOs too). After Sales Service should be improved to a large extent.

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Conclusion

The overall study & observation done, findings & other hypothetical issues as well reveals a message --- message of development, more development would energize, more awareness.

More awareness should also promote, more acquaintance with the product, more acquaintance should lead to more presence of this product.

The word "More ", redefined here equates to mass & proportionate to the jury, who says that LG as a whole has lit the market & added to the maturity of mindset that accepts it.

Nevertheless contradictions may occur, and has occurred also. Coalitions, actually occurs with differentiated ideologies, two different ideologies fighting to come down to a single conclusion.

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History evades that such conclusions do not occur. But with such conflicts, erupts newer brain wares, potential thoughts, minds that credentials updates & thereby a market is reborn, which drapes along with veils of augmented sales strategies that resulted to a wide product acceptance. Product presence everywhere whispers tales of product success. It's just that a mind which do not do different things, but does a strategy differently.

A good percentage of people accepted the brand & many users accepted LG Micro Wave Oven.

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42% spoke of likely attitude as they would recommend the brand and a great % spoke of a satisfied mind of after sales service with 25 % speaking its negatives.

One thing which could be exclaimed about is that irrespective of such diversities, many supported the brand "LG "' and also the product "Microwave Oven ". But its differentiated rating to acceptance would have a different story to say altogether.

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Annexure

Questionnaires Bibliography

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QUESTIONNAIRES
Introducing myself as a student of Govt. First Grade College, Shivamogga, initiating a part of the course curriculum of BBM, I am executing an analytical research on Awareness and concept of Microwave Oven and consumer behavior in respect of LG brand. I would put forth a please to spare a few moments of your precious schedule in answering some queries pertinent to my analysis. I assure and further indemnify you of strict confidentiality and the valuable dotes of yours would be used only for such emphatic academic analyses. I would express my sincere gratitude for the aid initiated by your good self in helping me acquiring accomplishment of my allotted research work.

Yours Manohara .C Name : __________________________________________ Address: _________________________________________ Contact No:____________________ 1. Age group
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Below 25 years 26-40 years 40 years and above

2. Occupation Private Company Public company Govt. company Business Others 3. Monthly Income Rs. 5,000 10,000 Rs 11,000 - 20,000 Rs 21,000 - 30,000 Rs 30,000 above Yes No

4. Are you aware of the concept & benefits of Microwave ovens?

5. If yes, How did you come to know about microwave oven for the first time? Television Newspaper Magazine Friends, peers & relatives

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Any other (please specify)___________________

6. Which is the criteria for why should you go for a microwave oven? Time saving Necessity Want Non competent psychological complex Healthy method of cooking for controlling of obesity and other fat related disasters. Compact kitchen utility 7. A microwave oven is of more utility to the children category as Well as for working mothers? Agree Disagree

8. If you think of even buying a microwave oven what brand should you think you buy one? LG Samsung Electrolux Godrej Kenstar Onida Bajaj Whirlpool Others

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9. A few statements are given below, Please indicate your opinion? Neither agree nor disagree

Statements a. microwave oven is more convenient than gas burner b. microwave oven cooks faster and saves energy c. microwave oven retains all nutritional values of food d. microwave oven cooks food evenly e. Healthy cooking and time saving run parallel

Strongly Somewhat Agree Agree

Somewhat disagree

Strongly Disagree

Any comments ___________________________________

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10. Which brand of Microwave oven you currently own? LG Samsung Electrolux Godrej Kenstar Onida Bajaj Whirlpool Others 11. Are you satisfied with the model and design of the Microwave Oven? Yes No

If No, why _________________________________________ 12. Are you satisfied with the after sales service? Yes No

13. What is the key reason of buying a microwave oven, if you happen to buy one? Economically viable Time feasible Health conscious Making an independent family in terms of cooking 14. Which product category of LG are you using at present? Refrigerator

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Air Conditioner Washing Machine Micro Wave Oven 15. What is your mode of purchase? Cash Installment basis 16. Do you keep stock of LG products? Yes Brand Easy accessibility to the market 18. If any Suggestions _____________________________________ No 17. If Yes, What made you decide to join hands with LG?

Date: Place

Signature

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BIBLIOGRAPHY
Marketing Research Marketing Management The Economics Times website. Journal on product information LGs Website
www.lg.com/in www.microwave_ovens.com ---By: Naresh K Malhotra

---By: Prof. Philip Kotler.

--- Microwave Oven

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