Professional Documents
Culture Documents
Training Certificate
Name of Student Institute Branch/year
Start date of training End date of Training Project Title
Manish Kumar International Institute of management & Entrepreneurship MBA-marketing/2010-2012 September20 , 2011 October31 , 2011 Buying behavior /need Analysis &Generation of Prospective customer List for Sony P roduct
th th
Neeraj Kadia
Date:-31/10/2011
A cknowledgement
I would like to thank Ikya Human capital solution Pvt. Ltd. for givingg me this opportunity. I would like to thank MR. V.K. Shukla (Mentor of IIME) for taking interest in my project amidst his busy schedule. I extend my heartful thanks to for the constant and valuable guidance by him though out my course.
I express my deep gratitude towards Mr.Vivek Chhugani (Area Sales Manager), Kanpur, for giving me permission to do the project in their organization and their valuable guidance at the company durin g the execution my project work at Sony Ex clusive, Kanpur.
I would like to take the pleasure of this opportunity to express my heartful gratitude to my guide Mandakini Maam (Faculty Member, IIME) who took personal interest and gave valuable suggestion thro ugh out my field work and completion of the project.
I thanks all my faculty member of MBA department tor their valuable suggestion throughout my course.
The importance of the moral support and good wishes of my parents and friends is external and I am very much i ndebted to them.
Finally, I thank all my friends who directly or indirectly helped me a lot d uring my project
Declaration
I Manish Kumar here by declare that project Entitled A Project report on Consumer buying behavior of Sony Product in Kanpur is the outcom e of my research work. No part of this research has been su bmitted earlier to any institution or University for the a ward of any other Degree/Diploma. The sources of material, d ata used in this study have been acknowledged.
(Researcher)
Manish Kumar
Table of contents
Detailed Study
Introduction Objective of Study Limitation of Study Research Methodology Marketing R esearch R esearch Methodology R esearch Design &Sampling Data collection Company Overview B ackground of Company C ompany Profile Product range C omparison of Sony & LG C omparison of Sony & Samsung S WOT Analysis 4 Marketing S trategies Marketing Strategies C ompetitors Milestone of Sony Product 5 Position of S ony in electronic Market Data Interpretati ons Conclusion Bibliography Questionnaire 28 30 33-40 42 44 45-47
S.No.
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Page No.
9 10
12 14 15-20 22-24
6 7 8 9
63-78 79 81 83-87
Introduction
Introduction
The essay inte nds to discuss why it is necessary to understand competitors and how understanding of competitors can help successful planning of marketing activities. The essay intends to deter mine the importance of strategic marketing planning a nd its need of understanding a companys rival. Through the essay a better understanding of strategic marketing planning, a nd the need to know competitors will be made.
Ob jective of Study
The objective of the summer Training is to ensure that I as a management student d evelop in real life for handling the specific project and also to develop all roundness in various management activitie s related to the area of my speci alization. This training gives me a substantial corporate exposurre and also serves as useful tool of interaction with the corporate sector.
The project has been derived from the field of Marketing and is entailed as Buying Behavior/Need Analysis & Generation of prospective Customer List for Sony Products in Kanpur, Uttar Pradesh
The main idea behind this project is: To study the buying pattern of people towards co nsumer goods. To determine the major factors influencing the buying decision process of the target group. To set out some basic marketing implications for the marketers to cater to different needs of the targets group.
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4.To have some insights on the relationship betweenmarketing stimuli and youth responses. 5. To serve as guideline for further research in this area.
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R esearch Methodology
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Marketing Research:Marketing research is the function thats links the consumer, customer and public to the marketer through information, that information use to identify & define marketing opportunities and problem, generate and evaluate marketing action and monitors marketing programme and improve understanding marketing process -American Marketing A ssociation
Importance Marketing Research: To Make Marketing Decisions Survive the Competition Helps to Decide Target Markets Maximize Profit s Increasing the Sales
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Consumer behavior: Consumer behavior is the process whereby individuals decide whether what, when, where, how and from whom to p urchase goods on services. - Walter and Paul
Importance of Consumer Behavior: To design the optimal product or service for customers. To determine where the product or Service shoulld be available that would easy for the customers to buy. To determine what price will the customers give up purchasing produ ct or service? To determine which method of Promotion would be most effective for getting the customers to buy a prod uct. It helps in changing the behavior of the consumers. To improve perf ormance of the organization. To achieve the organizational objectives.
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Research Metho dology:It is the procedure use in making systematic observation and obtaining data, evidence on information as a part of re search process.
Sample Size:Sample size is the nu mber of observations used for calculating estimates of a given population. For example, if we in terviewed 30 random students a t a given high school to see if t hey liked a certain music artist, "30 students" would be our sample size.
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Research design:A research design is a systematic objective and scientific plan developed for directing a research study. It constitutess the overview for data collection measurement and analysis of data.
Formal research design Completely ran domized design:It involves only two principal: The principal of replic ation and randomization. When experimental areas homogenous for study, CR design is used in this condition.
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Randomized block design:It is an improvisation to CR design. Along with other two principal, local control can be applied in RB design. Latin Square design:-
For agriculture related researches, LS design is used. The treatments in an LS design are also allocated among the plot that no treatment occurs more than once in any row or column. Factorial design:When more factors are showing more than one effectss, factorial design is used for suc h studies.
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Type of Sampling
1. Pure research It is done only for sake of knowledge. Intenension is not to apply it in regular practice. Pure research is also called basic or fundamental research. New theory or refinements of an existing theory are developed with the help of pure research .It lays foundation for applied research. It helps in finding critical factors in a problem. 2. Applied Research When real life proble m require some solution and decision making applied research is carried on. Means applied research is problem oriented and action directed. It brings immediate and practice research exa mple marketing research carried on for identifying chase customer habits to purchase so.
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4. Descriptive Research
This research is simple in nature and in its application. It is more specific exploratory r esearch. It focuses on problem under study and also aims at a clas sification of the range of elements comprising the subject matter of study. It highlights m ethod of data collection and interpretation. 4. Diagnostic Resea rch It aimed towards in de pth approach to reach the basic casual relation of a problem and possible solution for it. Probblem formulation, defining the population correctly for stud y purposes, proper meth ods for collecting accurate information ,correct measurement of variable , statistical and test of significance are essential in diagnostic research.
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5. Experimental Research
To have the understanding of the effects of particular variable in a process by keeping other variable constant or controlled experimental research is used. It developed the relationship among variable i.e. ho w they are related to each other.
6. Analytical Study
Quantitative data is an alysis with the help of mathem atical models or statistical te chnique applicable to numeric data. In other words Analytical study is also called as statistical method.
7. Historical research
When finding have to be made with the help of old existing source like document al and other information sources to understand events an ides of the past ,historical research is very useful.
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Sample design:A procedure or plan drawn up before any data is collected to obtain a sample from a given population. Also known as sampling plan, sample design.
Convenience Sampling:Where the researcher questions anyone who is availab le. This method is quick and cheap. However we do not know how representative the sam ple is and how reliable the result.
Quota Sampling: Using this method th e sample audience is made up off potential purchasers of your pr oduct.
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For example if you feel that your typical customers will be male between 18-23, female between 26-30, then some of the respondents you inter view should be made up of this group, i.e. a quota is given.
The judgment sample: A judgment sample is obtained according to the discretion of someone who is familiar with the relevant characteristics of the population.
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Data Collection
The project consisted of analysis of performance of the several consumer durable brands. In this particular project fu ndamental research was also carried out which attempted to explore knowledge through methods like personal interaction with the customers. Data Collection Met hods Primary data Secondary data
PRIMARY DATA:Primary data is data th at has not been previously published, i.e. the data is derived from a new or original research study and collected at the source , e.g., in marketing, it is information that is obtained directly fr om first-hand sources by means of surveys, observation or experi mentation The information provided by the customer & staff members. Through the personal interaction with the help off questionnaire.
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SECONDARY DATA
"Secondary data are t hose already in existence for so me other purpose than the answ ering of the question in hand." - M.M. Blair Websites of consumeer durable brands. Like Sony, Sa msung, LG etc.
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Coompany Overview
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Company Overview
Sony India Pvt. Ltd. Mr. Masaru Tamagawa November 17, 1994 A-31, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi 110044, India. 728 Rs. 550 million 100% subsidiary of Sony C orporation, Japan Delhi, Haryana, Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, Vijayawada, Jaipur, Chandigarh, Lucknow, Pune, Ahmadabad, Indore, Cochin, Coimbatore, Ghaziabad, Guwahati, Mangalore and Ranchi
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Business Activities:
Mar keting, Sales and After-Sales Service of electronic products & software exports Products: Televisions, Hi-fi Audios, Home Theater systems and DVD players, Personal Audio (CD/Cassette Radio Players and Wal kman), Audio Video Accessories, Car Audio and Visual Systems, Notebooks, Gaming Cons oles, Camcorders and Digital Still Cameras, Digital Imaging Accessoryy (Batteries, Chargers, Microphone, Photo Printers), Mobile Phon es, Recording Media and Energy Devices, Broadcast and Professional products.
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Overview
One of the most recognized brand names in the world today, Sony Corporation, Jap an, established its India operations in November 1994, focusing on the sales and marketing of Sony products in the country. In a span of 15 years Sony India has exemplified the quest for excellence in the world of digital lifestyle becoming the countrys foremost consumer electronics brand. With relentless commitment to quality, consistent dedication to customer satisfaction and unparalleled standards of service, Sony India is recognized as a benchmark for new age technology, superior q uality, digital concepts and perssonalized service that has ensur ed loyal customers and nationwide acclaim in the industry. With brands names such as BRAVIA, BRAVIA Theatre, Cybershot Handy cam, VAIO, Walkman, Xplod, Memory Stick PlayStation Sony has established it self as a value leader across its various product categories of Audio/ Visual Entertainment products, Information and Communications Recording Media, Business and Professional products. In India, Sony has its footprint across all major towns and cities through a distribution network comprising of over 5000 dealers
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and distributors, 240 e xclusive Sony outlets and 19 direct branch locations. Manned by customer friendly and informed sales persons, Sonys exclusive stores Sony Center are fast becoming the most visible face of the company in India. Sony India also has a strong service presence across the country with 20 company own ed and 190 authorized service centers and 16 exclusive demonstration centers. A distinctive feature of Sonys service is its highly motivated and well-trained staff that provides the kind of attentive and sensitive service th at is rare today.
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C ompany Profile
In a burnt-out departm ent store in Tokyo in 1946, just after World War II, Masaru Ibuka and Akio Morita , runni ng a company then know as Tokyo Tsushin Kogyo (Tokyo Tele communications Engineering), attempted to produce a simple electric rice cooker. It did not work too well, but it kicckedoff their desire to produce products for everyday life.
In 1958, the company name was changed to Sony Corrporation and since then, Sony has become one of the most reco gnized brand names in the hi story of the modern world. From the outset, Ibuka and Morita strove to develop exciting products to fulfill people dreams. From its first transistor radio in 1955, to the Trinitron, Walkma n, Beta cam , Handy cam, the C ompact Disc and the floppy disc .Sony has continually made things better, smaller and mo re innovative than ever thought possible.
Sony Corporation now spans a range of indu stries inc luding audio visual electronics, information tec hnology, broadcast, telecommunications, entertainment, satellite broad casting and even insur ance and finance.
Throughout the world today, Sony stands for innovation, state of the art techn ology and superior quality. Leading into its next fifty years, Sonys vision is to offer people exciting new produc ts and new lifestyles and rem ains
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Sony in India
Sony is not new to In dia. Whether it was the television, or the walkman, a Sony alw ays remained a must in the wish list of any Indian, returning home from abroad This love for the brand culminated in a new relationship when inspired by a reform friendly Indian business environment, Sony Corporation decided to set up a 100% subsidiary called Sony India on16th January 1995
COMPANY MI SSION
Sony India focused towards making a difference in the lifestyles in the Indian market and open up new vistas of entert ainment in the country. Sony India remains committed towards offering new age technology and digital concepts while worki ng hand in hand with the Indian industry to produce and sell exceellence. Their consistent com mitment towards service has brought the company quite closer to the Indian customer.
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Dynamic Edge LED Optic Contrast and C ORNING's Gorilla Glass Panel Wi-Fi Integrated Monolithic Design Full HD 3D features a built-in 3D Transmitter X-Reality picture engine
16.2MP Exmore R CMOS Sensor Ultra Sleek & Compact Body (Only 12.2mm thin) 5x Optical Zoom & 10x Clear Image Zoom Superior Auto for Hig h Quality Images 7 Picture Effect Mode s AVCHD Full HD movie recording
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VAIO Notebooks
VAIO E-Series
Intel Core i5-2430 Processor 2.40 GHz with Turbo Boo st up to 3.00 GHz Genuine Window 7Home Premium 64-bit 15.5 wide TFT co lor display (LED backlight)
TM
Sony Tablet
TM
Android 3.2 Easy to carry and eas y to watch with 9.4 Trublack Touch Screen Display Swift and smooth touch experience with quick view and quick touch
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HDR-PJ50E
Exmor R CMOS Se nsor 29.8 mm wide angle S ony G Lens Built-in Projector 220GB HDD Optical Steady Shot w ith Active Mode 7.1M still picture
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10fps continuous sho oting with auto focus Quick AF Full HD Movies Recording 16.2 MP Exmor CMO S Sensor
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PlayStation3
Console dimensions (approx.) (W/H/D) Console mass (approx.) CPU GPU Sound Memory Wireless Controller (Bluetooth) BD/DVD/CD Driver (Read Only) PlayStation2 Compatibility 290 x 65 x 290 mm 3.2 kg C ell Broadband Engine R SX
D olby Digital Plus / Dolby Digital 5.1ch / DTS 5.1ch / LPCM 7.1ch / AAC / etc 256MB XDR Main RAM / 256MB GDDRR3 VRAM Y ES
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Headphones
Hi-Fi System
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Vo ice Recorders
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Sony(CX320) Bravia Engine HD Ready Digital Noise Reduction 2 HDMI FM Radio Light Sensor USB
USB
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Sony(CX320) Bravia Engine HD Ready Digital Noise Reduction 2 HDMI FM Radio Light Sensor USB
Samsung(D450)
Dnle HD Ready Noise Reduction 1,2 HDMI 10w+10w
+
JPEG Format
Sony(NX520) Bravia Engine Full HD Digital Noise Reduction 2 HDMI FM Radio Light Sensor USB(Maximum Form at)
Samsung(D550) Hype-real Engine Full HD Noise Reduction 4 HDMI 10w+10w JPEG Format
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Weaknesses
High cost manufacturing base leading to lower m argins . Legal proceeding s likely to hamper corporate image.
Opportunities
Sony is leading b rand in consumer durable market because of its better service and quality. It has a professionalism, good service attitude and knowledgeable staff and employee. Because of keen foresightedness of future deman d and customer perception, Sony can beat all the competitors.
Threats
Unfavorable foreign exchange rates likely to imp act margins Impact of the global economic slowdown
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M arketing Strategies
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Marketing strategies
Management of a firm needs strategy, to make sure that everything goes we ll in the company, throug h the use of strategic managem ent everything done in the company is well organized and no detail is being left out. The company needs strategic management to make sure that the company is doing well internally. The term strategic management originates from the Greek lang uage, where the word means the art of a general. The person w ho makes strategies is the strate gist who is the leader of an army (1991). Strategic manage ment decisions have multifunctional and multi-business consequences, this kind of decision require broad consideration of the firm's external and internal en vironments, and it may affect the firms chance of prosperity. It is important to know what strategy is about, what can it do help th e company prosper, what will happen if not used properly, what are the advantages and disadvantages of having a strategy. Strategy is a plan that assimilates the companys major target; policies and rules; decisions and s equences of action into organize d whole. It can apply at all level s of organization and pertain to any of the functional areas of ma nagement (2000). Strategy is pllagued by a stigma of unsystematic reasoning (1988).
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It is incomplete search for strategic alternatives, and bounded rationality (1960) influenced this perception. Strategy is a combination of the companys objectives, policies and decisions to be done in unison or contingent upon each other. Marketing strategy thus refers to how a companys products or services its trade is presented to consumers in an effective manner as to gain loyal costumers. Strategy can be used in different ways, one of which is through marketing. Using strategy in marketing makes it more convincing and effective. Strategy makes sur e that nothing wrong happens in the marketing process in the company. Marketing strate gy is a way to capture a niche in the consumer market. Businesses utilize it to gain following and exploit their maximum and/or optimal profit capabilities. Strategic marketing is the way co mpany sells the product it has wit h less difficulty and more readi ness to face competitors. Strategic marketing makes sure that the company uses all of its resources to counter its competitors. Strategic marketing planning is a procedure wherein the strateggies used to sell product is carefully studied and analyzed so that the company can compete well and have advantage with rivals.
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COMPETITORS
All firms have strate gic windows and some of these windows open out on to markets that are shared with other firms. Where windows share views over the same market, competiition exists. It is important to understand how different firms view the same market since their perceived and actual windows of opportunity will not all be the same. The nature of competition and the factors which influence it are explored along with how firms identify competitors and how they use product possitioning to obtain a competitive advantage. Attention is paid to how firms define their marketing strategies and analyze the competitive positions of rivals ( 2000).Consideration is given to the various sources of informatio n available to firms that enable them to gauge competitors strengths and weaknesses. Success in the market place depends not only on an ability to identify customer wants and needs but also upon an ability to be able to satisfy those wants and nee ds better than competitors are able to do. This implies that organizations need to look for ways of achieving a differential advantage in the eyes of th e customer. The differential advan tage is often achieved through the product or service itself but so metimes it may be achieved through other elements of the marketing mix (2000).
An important thing the company should be wary of is to understand competitors. Gaining knowledge against competitors helps in creating meas ures to gain advantage against
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competitors. To know and have an in depth knowled ge of the competitors the company can use different kinds of strategy such as porters generic strategy. Determining and having added knowledge about the competitors help in planning marketing activities through distinguishing and forecasting what activities rivals may use and wh at strategy they might implement. Having added knowledge crea tes a way for the company to prepare for anything competitors might do and it helps in planning marketing activities th at focus on having contingency measures against competitors. Sony although already a well known and successful company still uses strategic marketing planning thatt keeps the company alive in its industry. This strategic marketi ng planning keeps Sony alive against its competitors. Sony shouldd still know and acquire all information they can with reggards their competitors. The competitors activities, background and actions should be known by the company so that in planning marketing activities they know which things will be done by the competitors, what kind of actions the competitors will do in certain situations, and what future things the competitors might do. Sony should not be complacent with the things they know about the competitors. They should strive to find out things about the competitor s that cannot be visibly noticed. Through the use of certain st rategies like porters generic strategy the company might be able to know more about competitors and through such information they can plan strategies to conquer this competitors.
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COMPETITOR S PROFILE
Samsung
The Korean company Samsung has grown to become one the worlds leading electroniccompanies, specia lizing in digital appliances and med ia, semiconductors , memory and system integraation. Today Samsungs innovative & top quality products & processes are world re cognized. The digital age has brought revolutionary change and opportunity to globa l business, and Samsung has re sponded with advanced technology, competitive products, and constant innovation. Samsung, see every c hallenge as an opportunity and b elieve that it is perfectly positioned as one of the world's recognized leaders in the digital technology industry .Its commitment to being the world's best has won the No.1 global market share for 13 products, including semiconductors, TFT-LCDs, m onitors and CDMA mobile ph ones. Looking forward, and making historic advances in re search and development of its o verall semiconductor line, in cluding flash memory and non-memory, custom semi conducto rs, DRAM and SRAM, as well
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LG
The history of LG Electronics has always been surrounded by the company's desire to create a happier, better life. LG Electronics was e stablished in 1958 and has since led the way into the advanced digital era thanks to the technological expertise acquired by manufacturing many home appliances such as radios and TVs. LG Electronics has unveiled many new products, applied new technologies in the form of mobile devices and digital TVs in the 21st century and continues to reinforce its status as a global.
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H ome theatre
MO BILE PHONE
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Milestone of Sony
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200520062006-
Launch ed BRAVIA series of wide screeen LCD TVs feature live color creation HDR- UX1 world first HD cam recordeer Play station 3
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Sony, 27%
Videocon, 9%
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Name of Company
Location Wisse Service Attit ude Pricing Wise Professionalism Quality Wise Product availability Information Support Knowledge o f a Staff Staff Availab ility
SONY
Good Excellent Best Excellent Excellent Best Best Best Good
LG
Good Average Poor Good Good Best Average Average Good
Samsung
Good Poor Good Average Excelllent Best Poor Good Good
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Gender
Female 40%
Male 60%
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Size of Family
Size of Family
above 7 7% 5 to 7 18% Less3 20%
3 to 5 55%
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21-3 0 37%
41-50 21%
31-40 21%
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% of respondant's Qualification
10& Below 2%
10+2
8%
Graduate
25%
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Govt.Job 28%
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30,000-50,000 25%
20,000-30,000 30%
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90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Yes No
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Dvd Player 8%
Camera 19%
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M ode of Payment
Mode of Payment
Credit 1% Cheque 5% Ma ter Card 15%
C ash 79%
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50%
73
Yes 35%
No 65%
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No 65%
75
Yes 74 %
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Yes 74%
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Compression
Oni da 10 % Videocon 10% Other 3% LG 30%
Panasonic 22%
Samsung 25%
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CONCLUSIO N
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CONCLUSION
According to research of 30 days in Sony India ltd, it reveals that Sony is real as well as a great leader in electronic and consumer durable. Sony is masters in Bravia LCD TV; Cyber shot camera, and vaio notebooks. Sony has credibility in these products. Sony as a brand is so popular in rich class peoplee; they think it is nothin g but a status symbol. Sony is facing tough competition with Samsung & LG because of reasonable price &quality. But when considered service attitude, one pricin g policy, promotion policy , quality of a product, professional appearance & knowledge of staff regarding product feature sand function, So ny is far ahead from Samsung & LG. Sony plays a vital role in consumer durable mark et.
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Bibliograph y
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Bibliography
The informati on provided by the customer. Through the personal interaction with the help of questionnaire. Websites of co nsumer durable brands. Like So ny, Samsung, LG etc.
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QUESTIONNAIRE
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Q2: How many memb ers in Family? a) 3 b) 3to5 c) 5to7 d) Above 7 Q3: Technical Aware ness. a) Yes b) No
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Q4: Income of custom er/mo nth a) <15,000 b) 15,000-20,000 c) 20,000-30,000 d) 30,000-50,000 e) >50,000 Q5: Are you actual user of Sony Product? a) Yes b) No
Q6: which Sony Product first time you use? a) LCD/LED b) Home Theater c) Camera d) Handicam e) Laptop f) DVD Player g) PSP/PS2/PS3
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Q8: What is making customer satisfied of Sony Product? a) Quality b) Customer Service c) Brand
Q10: Are you compared Sony Brand with other Brandd? a) Yes b) No
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Q11: You are compared Sony Brand with.. a) LG b) Samsung c) Panasonic d) Onida e) Videocon f) Other
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