Title: MARKET ANALYSIS OF LG CONSUMER D

NAME:RICHA GARG PROGRAM: BBA-VI Sem (II Shift) ENROLL. NO: 0592131708

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

CONCEPT OF MARKET ANALYSIS

Marketing deals with identifying and meeting human and social needs. One of the shortest definitions of Marketing is Meeting needs profitably. Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relations in ways that benefit the organization and its stoke holders.

MARKET ANALYSIS
The goal of a market analysis is to determine the attractiveness of a market, both now and in the future. Organizations evaluate the future attractiveness of a market by gaining an understanding of evolving opportunities and threats as they relate to that organization's own strengths and weaknesses

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

Objectives of Study

The objective was to find out the : Market share of LG products. Advantages, and disadvantages of LG products from dealers and to find out what problems they are facing with the LG products so that problems can be resolved to increase the sale. To know that why people buy LG products.

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

Research Methodology

Research Type : a) Descriptive Research:-Descriptive studies are undertaken in many circumstances when the researches is interested to know the characteristic of certain group such as age, sex, education level, occupation or income. Descriptive studies are well structured. Sampling Design: convenience sampling. Sample Size: 50 Sample Location: Rohini. Research Instrument: Questionnaire , personal interviews, websites , newspaper and magazines. Analytical Tool: PIE charts.

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

DATA ANALYSIS
PIE chart showing purchasing of consumer durables during exhibitions

Response Yes No TOTAL

Number of Consumers 18 32 50

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

PIE chart is showing parameters affecting consumer preferences while purchasing.

Parameters Brand Product Feature Price

Number of Consumers 13 9 15

Durability
Service Total

5
8 0

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

PIE chart is showing reasons for buying from a particular place

Reasons Offers Attractive prices Demonstarion Service Convienience Total

Number of Consumers 7 12 7 13 11 50

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

PIE chart is showing consumer durables of LG owned by customers.

Title: MARKET ANALYSIS OF LG CONSUMER D

PIE chart is showing consumer durables of LG owned by customers.

Consumer durables LCD

16% 8% 14% LCD Refrigerator Washing machines 24% 38% Microw ave AC

Number of Consumers 7 19 12 4 8 50

Refrigerator Washing machine Microwave AC Total

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

PIE chart is showing frequency of changing consumer durables in years.

Time 1-3 years 3-5 years 5-10 years More than 10 years Total

Number of Consumers 2 10 27 11 50

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

PIE chart is showing preference of financing scheme while purchasing consumer durables.

10% 0% Yes No Can't Say 90%

Response Yes No Cant say Total

Number of Consumers 5 45 0 50

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

PIE chart is showing products which consumers find limited at the store.

Products
6% 30% 14% LG refrigerator LG television LG mobile phone LG stereo system 50%

Number of Consumers 3 7 25 15 50

Lg refrigerator Lg television Lg mobile phones Lg stereo system Total

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

PIE chart is showing customer satisfaction related to staff service

Response
14%

Number of Consumers 43 07 50

Yes
Yes No

No
86%

Total

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

Research Findings

From the survey it was found out that the majority of customers dont buy consumer durables from exhibitions. They just visit the exhibitions to see the co. latest model. 30% of customer gives importance to price.26% give importance to brand. 19% to product feature Service and so on. most people purchase refrigerators of LG followed by washing machines and so on while microwaves holds the least place. Customers prefer to change consumer durables within 5-10 years. In India people do not change consumer durable frequently. Also majority of customers do not want any financing scheme for purchasing the durables. According to the survey, LG lacks in mobile phones variety followed by stereo systems. Its refrigerator and television range is good and satisfying. Customer satisfaction as far as staff services is concerned is satisfying and most of the respondents have found it on a good basis

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

Recommendations

LG should improve its after sale service because its hits badly LGs market share. More detailed customaries service is to be provided. Customer considers quality as their first preference, so the company should give more stress on this. The product is well aware and it is on top of mind of customer. So company should always improve services and update their technology. The marketing managers should make better relations with dealers and reputation of the company.

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem

Title: MARKET ANALYSIS OF LG CONSUMER D

Bibliography

www.lgindia.com www.google.com www.wikipedia.com LG magazine www.gadgets.com

Student name

TECNIA INSTITUTE OF ADVANCED STUDIES

Programme: BBA VI Sem