KARNATAKA LAW SOCIETYS INSTITUTE OF MANAGEMENT EDUCATION & RESEARCH, BELGAUM PROJECT REPORT ON ASSESMENT OF CUSTOMER SATISFACTION OF SAMSUNG

LED TV & AWARENESS OF SAMSUNG OLED TV IN BELGAUM BY NAVEEN.M 49 PARSHURAM.K 51 PRAMOD.G 53 PRASHANT.K 54 RAHUL.D 58 UNDER THE INSTITUTE GUIDANCE OF

Prof. Rajendra Inamdar

K.L.S.IMER BELGAUM

STUDENT DECLARATION We hereby declare that the project report entitled ASSESMENT OF CUSTOMER SATISFACTION ON LED TV & AWARENESS OF OLED TV IN BELGAUM is executed as a part of our curriculum under the guidance of Prof Rajendra Inamdar.

Date: 21/05/2012 Place: Belgaum

ACKNOWLEDGEMENT In this project we have made an honest and dedicated attempt to make the research material as authentic as it could. This project has been a unique experience for us, one where we learnt practically the actual market scenario. We would be failing in our duty if we dont thank the people who made this experience possible for us. I would first like to thank Prof Rajendra Inamdar for providing an opportunity to carry out this project. I would also like to thank to all the prospects for sparing their valuable time and provided an impartial feedback.

TABLE OF CONTENTS

EXECUTIVE SUMMARY 1. INTRODUCTION 2. INDUSTRY PROFILE 3. COMPANY PROFILE 4. INTRODUCTION TO THE PROJECT Title of the project Objectives of the project 5. Research methodology Data collection method Sampling Data analysis Limitations of the study 6. Analysis Data analysis through the help of questionnaire Graphical representation of the analysis 7. Findings 8. Suggestion and recommendations 9. Conclusion 10. LEARNINGS

11. 12.

Bibliography Annexure

EXECUTIVE SUMMARY
COMPANY INTRODUCTION Samsung electronics is a South Korean multinational electronics and information technology. Company head quartered in Samsung town, Seoul. Samsung electronics leads the global market in hi technological electronics manufacturing and digital media. In developed markets Samsung will leverage its premium LED TV offerings to lift sales as LED TV sales rise to account for more than 60% of global flat panel TV market in 2012. Overall Samsung posted global revenues of USD 42.19 billion for 4th quarter, a 13% increase year on year. Through innovative reliable products and services, talented people, a responsible to business and global citizenship, collaboration with our partners and customers, Samsung is taking the world in imaginative new directions. Title of the project: Assessment of customer satisfaction on SAMSUNG LED TV & Awareness about SAMSUNG OLED TV. Objectives of the project:

To study the customer satisfaction of Samsung LED TV.

 To know the factors influencing the customers to buy LED TV. To know the customer awareness about Samsungs OLED TV.
Sample size: 100 respondents Findings: Samsung plays a very vital role in consumer durable market. Samsung as a brand is so popular in rich class as well as in middle class people; they think it is nothing but a status symbol. Samsung is facing a tough competition with Sony and Videocon because of price and quality. By the survey we came to know that the important reasons for opting to the Samsung LED TV are technology, brand name and price. SUGGESTIONS: 1. As there is a bottleneck competition between Samsung and Sony, it is necessary to take measure steps to overcome the areas of downfall in Samsung with respect to Sony. 2. Customers consider technology as their first preference, so the company should give more stress on this.

3. The product is well aware and it is on top of minds of customer, so company should always improve services and update their technology 4. Company should improve the after sales service of products as it is the important factor. 5. Prompt of service in time.

CONCLUSION: After the completion of the study I would like to conclude the following points, were revealed through findings of the study, The majority of the Samsung customers are satisfied. Due to technology Samsung is tapping the market. The customers are interested to use the Samsung product for the second time. The awareness of SAMSUNG OLED TV is awfully small.

INTRODUCTION:

Before the liberalization of the Indian economy, only a few companies like Kelvinator, Godrej, Alwyn, 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.

Today, these players control the major share of the consumer durables market. Consumer durables market is expected to grow at 10-15% in 2007-2008. 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 were entering in the market 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 (C-TV) were no longer considered luxury items. However, there were 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.

Indian Consumer durables market used to be dominated by few domestic players like Godrej, Voltas, Allwyn and Kelvinator. But post liberalization many foreign companies have entered into Indian market dethroning the Indian players and dominating Indian market the major categories being CTV, REFRIGRATOR, MICROWAVE OVEN and WASHING MACHINES. India being the second largest growing economy with huge consumer class has resulted in consumer durables as the fastest growing industries in India. LG, SAMSUNG the two Korean companies have been maintaining the lead in the market with LG being leader in almost all the categories.

The rural market is growing faster than the urban market, although the penetration level is much lower .The CTV segment is expected to the largest contributing segment to the overall growth of the industry. The rising income levels double-income families and consumer awareness were the main growth drivers of the industries.

INDUSTRY PROFILE
The Indian consumer durable market is one of the major industries of the country .In recent times, the industry has undergone sea changes initiated by the liberalized economic policies. Before the liberalization policies were introduced, Indian consumer durables industry was a closed one dominated solely by the domestic players. But post 1991 many foreign brands have shown interest in

tapping the large market for consumer durables in India. As a result, both international and domestic brands are now competing side by side. The consumer durables industry of India has recently witnessed an upsurge in demand due to the improved financial condition of the people. The market has recently experienced around 30% growth rate in demand for electronics and home appliances. Some of the factors that are said to have promoted the growth of the industry are: Changed lifestyle Higher disposable income Changed taste Affordable prices Boom in housing and real estate industry Widened market- expansion of rural market Increased scope for advertising Easy loans and credit card purchases Festival deals and discounts

Analysis of the Indian market for consumer durables

The market for consumer durables has expanded over the years. The household income of Indian houses has experienced significant improvement in the past decades and as a result the demand for durables has also risen. The current projection shows that household income of the population in top 20 cities of India is expected to grow by 10% in the coming years. This is likely to increase the demand for consumer products as well.

The middle income group section (household with disposable income between 200, 000 to 1, 000,000) which currently constitutes 5% of the population is expected to become 41% by 2025. Rural poverty is expected to decline to 26% by 2025. All these factors are expected to contribute towards improving the market scenario for consumer durables. Job scenario of consumer durable industry The strong market trends are expected to promote demand for consumer durables as well. As a result, employment opportunities are likely to increase in the industry. Candidates interested in joining consumer durables market can find employment in the following profiles.

Business development executives/managers Marketing and sales Product designers Distribution channel developer Production Operation Administration Accounts Law corporate law, patent law Advertisement Top consumer durables companies in India

Panasonic A V C Networks India Company Ltd Panasonic Home Appliances India Company Ltd Polar Industries Ltd. Bajaj Electricals Limited Balkrishna Industries Ltd.

Bombay Burmah Trading Corporation Ltd. Bose BPL Ltd. Forbes & Company Ltd. Haier Appliances (India) Private Limited Havells India Ltd Hawkins Cookers Ltd Jaipan Industries Ltd Kanchan International Ltd Khaitan Electricals Ltd. Videocon Industries Ltd Voltas Limited Whirlpool of India Ltd. Polar Industries Ltd. Sharp India Ltd. LG Electronics India Nokia India

COMPANY PROFILE

Unlike other electronic companies Samsung origins were not involving electronics but other products. In 1938 the Samsung's founder Byung-Chull Lee set up a trade export company in Korea, selling fish, vegetables, and fruit to China. Within a decade Samsung had flour mills and confectionary machines and became a co-operation in 1951. Humble beginnings. From 1958 onwards Samsung began to expand into other industries such as financial, media, chemicals and ship building throughout the 1970's. In 1969, Samsung Electronics was established producing what Samsung is most famous for, Televisions, Mobile Phones (throughout 90's), Radio's, Computer components and other electronics devices. 1987 founder and chairman, Byung-Chull Lee passed away and Kun-Hee Lee took over as chairman. In the 1990's Samsung began to expand globally building factories in the US, Britain, Germany, Thailand, Mexico, Spain and China until 1997. In 1997 nearly all Korean businesses shrunk in size and Samsung was no exception. They sold businesses to relieve debt and cut employees down lowering personnel by 50,000. But thanks to the electronic industry they managed to curb this and continue to grow. The history of Samsung and mobile phones stretches back to over 10 years. In 1993 Samsung developed the 'lightest' mobile phone of its era. Then they developed smart phones and a phone combined mp3 player towards the end of the 20th century. To this date Samsung are dedicated to the 3G industry. Making video, camera phones at a speed to keep up with consumer demand. Samsung has made steady growth in the mobile industry and are currently second but competitor Nokia is ahead with more than 100% increase in the shares.

SAMSUNG ELECTRONICS

 Type

: public Korean

Industry: Conglomerate Founded:1938 Founder :Lee Byung-Chull Headquarters: Samsung Town, Seoul, South Korea Area served: Worldwide Key people: Lee Kun-Hee (CEO & Chairman) Products: consumer electronics, ship building, telecom, engineering & constructions, financial services, chemicals, retail, heavy industries, entertainment, apparel & medical services. Revenue: us$ 220.1 billion Net income: us$ 21.2 billion Total assets: us$ 343.7 billion Total equity: us$ 141.1 billion employees: 3,44,000 Parent: Samsung group Website: WWW.Samsung.com

INTRODUCTION TO THE PROJECT

TITLE OF THE PROJECT ASSESMENT OF THE CUSTOMER SATISFACTION ON SAMSUNG LED TV AND AWARENESS ABOUT SAMSUNG OLED TV

OBJECTIVES OF THE PROJECT

To study the customer satisfaction of Samsung LED TV. To know the factors influencing the customers to buy LED TV. To know the customer awareness about Samsungs OLED TV.

RESEARCH METHODOLOGY

Title of the project: Assessment of customer satisfaction on SAMSUNG LED TV & Awareness about SAMSUNG OLED TV. Objectives of the project:

To study the customer satisfaction of Samsung LED TV. To know the factors influencing the customers to buy LED TV. To know the customer awareness about Samsungs OLED TV.

Research methodology:
Research methodology is considered as the nerve of the project. Without a proper well-organized research plan, it is impossible to complete the project and reach to any conclusion. The project was based on the survey plan. The main objective of survey was to collect appropriate data, which work as a base for drawing conclusion and getting result.

Data Collection:
This report was prepared after collecting data from the customers and past data was arranged from the various studies conducted in last few years and various other records of company.

Primary Data:
These data were collected by personal interview with the customers. For these purpose questionnaires were prepared in such that all necessary data would be collected. Secondary Data:

Information regarding the project, secondary data was also required. These data were collected from various past studies, websites, magazines and other sources of the company.
Research approach: Survey

method

Research instrument: Questionnaire

Sampling: Population: Users of Samsung LED TV Sampling method: stratified sampling

Sampling size: 100 Respondents

Sampling plan: Eliciting information through questionnaire.

Data analysis:
The primary data collected through questionnaire was processed by using excel spreadsheet. Statistical techniques like percentages and averages were used to analyze the data collected. The analyzed data was presented through tables and graphs for easy understanding.

LIMITATION OF STUDY:
Although we tried our best in preparation of this project, but this study has some limitation: 1. The period of the project was not sufficient to study all the factors in deep. 2. Visiting various places for the study consumed a lot of time. 3. We cannot say that what the consumer have revealed will be right for each and every situation because their perception is influenced by many factors.

4. The sample size was restricted to 100 respondents due to the constraints of time.

ANALYSIS

DATA ANALYSIS THROUGH QUESTIONNAIRE

1. Which of the electronic product brand you like most? a) Samsung b) Sony

c) Videocon d) Philips e) Akai

AKAI, 13.13, 13% SAMSUNG , 26.67, 27% PHILIPS, 16, 16%

SAMSUNG SONY VIDEOCON PHILIPS

VIDEOCON, 18.67, 19%

SONY, 25.6, 25%

AKAI

ANALYSIS: The electronic brand that the respondents rated most is Samsung i.e.; 26.67% and very next brand to Samsung with a minimum difference is Sony. The other brands such has Videocon, Philips & Akai comes in the row respectively.

2. Reasons for purchasing the Samsung LED TV? a) Service b) Price c) Sound quality d) Picture quality e) Technology f) Brand name g) Dealers worthiness

DEALERS WORTH 0%

SERVICE 6%

BRAND NAME 16%

SERVICE PRICE 26 26% PRICE SOUND QUALITY PICTURE QUALITY TECHNOLOGY

TECHNOLOGY 38 38% SOUND QUALITY 5% PICTURE QUALITY 9%

BRAND NAME DEALERS WORTH

ANALYSIS:

From the above figures, it indicates that people give

more preference to technology as compare to other attributes like brand, sound quality etc while purchasing the Samsung LED TV. The main reason to opt for Samsung LED TV is technology and very next to that is price. I.e. Technology contributes 38% where as price contributes 26% to influence customers as well as Brand name contribute 16%.

3. How satisfied are you with regarding the following criteria? A. Overall Quality

60 50 50 40 30 Series1 20 10 0 VERY SATISFIED SATISFIED NEUTRAL UNSATISFIED VERY UNSATISFIED 8 3 0 39

ANALYSIS: A majority of respondents are extremely satisfied with respect to the overall quality I.E 50% and 39% of respondents are satisfied. This is very good from the company point of view. Here percentage of satisfaction is more than the number of dissatisfaction.

B.PRICE

70 60 50 40 30 20 20 10 0 VERY SATISFIED SATISFIED NEUTRAL UNSATISFIED VERY UNSATISFIED 16 5 0 Series1 59

ANALYSIS: 16% of respondents are very satisfied & 59% of respondents are satisfied on the attribute of price. As our Indian market being the price sensitive, Samsung has around 75% of satisfied customers which is a positive sign to the company.

C. USAGE EXPERIENCE

50 45 40 35 30 25 20 15 10 5 0 VERY SATISFIED SATISFIED NEUTRAL UNSATISFIED VERY UNSATISFIED 2 21 34 43

Series1

ANALYSIS: The above numbers reveals that respondents have a

very good usage experience. 34% are very satisfied and 43% are satisfied. The percentage of dissatisfaction is very low compared to satisfaction.

D. AFTER PURCHASE SERRVICE

50 45 40 35 30 25 20 15 15 10 5 0 VERY SATISFIED

47

29

Series1

SATISFIED

NEUTRAL

UNSATISFIED

VERY UNSATISFIED

ANALYSIS: The above figure shows that the percentage of satisfied respondents is more than the unsatisfied respondents. 15% of respondents are very satisfied and 47% of respondents are satisfied. The unsatisfied level (unsatisfied 4% &very unsatisfied 5%) is very low compare to the satisfied level.

4. Compare to other product category that is available, would you say that the Samsung TV is A. Much better B. somewhat better C. About the same D. somewhat worse E. Much Worse
ABOUT THE SAME, 5 MUCH WORSE, 0 SOMEWHAT WORSE, 1

MUCH BETTER SOMEWHAT BETTER SOMEWHAT BETTER, 39 MUCH BETTER , 55 ABOUT THE SAME SOMEWHAT WORSE MUCH WORSE

ANALYSIS: The above figures reveal the fact that half of the total respondents I.E. 55% feel Samsung is much better compared to the other product category and 39% of respondents feel that it is somewhat better than the other product categories available.

5. HOW LIKELY ARE YOU TO USE/PURCHASE SAMSUNG TV AGAIN? A. Definitely B. Probably C. Might or might not be D. Probably not E. Definitely not
PROBABLY NOT, 0 DEFINITELY NOT, 0

MIGHT OR MIGHT NOT BE, 17 DEFINITELY PROBABLY DEFINITELY , 51 PROBABLY, 32 MIGHT OR MIGHT NOT BE PROBABLY NOT DEFINITELY NOT

ANALYSIS: Almost 51% of respondents are likely to purchase or use the Samsung TV again and 32% of respondents replied they may

probably use the Samsung TV again. 17% of respondents are in a dilemma to use the Samsung TV again. 6. Have you heard about Samsung OLED TV? A. YES B. NO

YES , 30 YES NO

NO, 70

ANALYSIS: The above figures show that only 30% of respondents are aware about Samsung OLED TV which is very poor from the company point of view. Still 70% of respondents are unaware about this new technology.

FINDINGS: Samsung plays a very vital role in consumer durable market. Samsung as a brand is so popular in rich class as well as in middle class people; they think it is nothing but a status symbol. Samsung is facing a tough competition with Sony and Videocon because of price and quality. By the survey we came to know that the important reasons for opting to the Samsung LED TV are technology, brand name and price. Most of the respondents are satisfied on the attributes of quality, price, usage experience etc. Majority of the respondents replied Samsung LED TV is better when compared to the other available category. Most of the respondents are interested to use the product again. The words describing the brand Samsung related to LED TV is Reliable and HI-TECH.

SUGGESTIONS AND RECOMMENDATIONS: 1. As there is a bottleneck competition between Samsung and Sony, it is necessary to take measure steps to overcome the areas of downfall in Samsung with respect to Sony. 2. Customers consider technology as their first preference, so the company should give more stress on this. 3. The product is well aware and it is on top of minds of customer, so company should always improve services and update their technology 4. Company should improve the after sales service of products as it is the important factor. 5. Prompt of service in time. 6. Company should introduce low cost product to satisfy the needs of low class peoples. 7. Advertisement of companys product should focus on quality. 8. In order to create awareness of Samsung OLED TV Company should conduct exhibitions. Exhibitions should be conducted regularly so it helps in generating the awareness regarding the product. 9. Also this helps in advertising the product.

10. Company should distribute T-shirts, pamphlets etc for making awareness of SAMSUNG OLED TV.

CONCLUSION: After the completion of the study I would like to conclude the following points, were revealed through findings of the study, The majority of the Samsung customers are satisfied. Due to technology Samsung is tapping the market. The customers are interested to use the Samsung product for the second time. The awareness of SAMSUNG OLED TV is awfully small.

LEARNINGS: We got a real and practical exposure. We got a feel of the actual market place. Implementing the theoretical knowledge into practice. Sharpening the communication skills.

BIBLIOGRAPHY

WEBSITES REFERRED: 1- http://www.samsung.com/in/aboutsamsung/index.html 2- http://www.samsung.com/in/aboutsamsung/corporateprofile/ind ex.html 3- http://www.samsung.com/in/aboutsamsung/corporateprofile/his tory.html 4- http://www.samsung.com/in/aboutsamsung/corporateprofile/vis ionmission.html

BOOK REFERRED: MARKETING RESEARCH (TULL AND HAWKINS)

ANNEXURE

QUESTIONNAIRE INSTITUTE OF MANAGEMENT EDUCATION AND RESEARCH, BELGAUM

We the students of KLS IMER, BELGAUM conducting a survey on SAMSUNG LED TV as a part of our curriculum. So we request you to spare your valuable few minutes with us to fill this questionnaire which will enable us to complete this project successfully.

QUESTIONNAIRE
NAME: OCCUPATION: EMAIL ID: CONTACT NO: 1. Which of the electronic product brand you like most? Rate it from 1-5 A. Samsung B. Sony C. Videocon D. Philips E. Akai 2. Have you ever used any Samsung products? A. yes B. No 3. If yes, specify it?

4. Reasons for purchasing Samsung LED TV?

A. Service B. Price C. Sound Quality D. Picture Quality

E. Technology F. Brand Name G. Dealer Worthiness

5. How satisfied are you with regarding the following criteria?

Very Satisfied satisfied Neutral Unsatisfied Very Unsatisfied

Overall Quality Price Usage Experience After Purchase Services (Warranty, Repair, Customer Service) 6. Compare to other product category that is available Would you say that the Samsung TV is A. Much Better B. somewhat better C. About the same D. Somewhat Worse E. Much Worse

7. How likely are you to use / purchase Samsung TV again? A. Definitely B. Probably C. Might or Might not be

D. Probably Not E. Definitely Not 8. Which of the following words do you think is describing the brand Samsung related to TV? A. Innovative B. Reliable C. HI-Tech D. No selection 9. Have you heard about SAMSUNG OLED TV? A. Yes B. No 10. If yes, how?

THANK YOU