Summer Internship Report

ON
DEMAND AND SUPPLY OF IFB PRODUCT IN GORAKHPUR

Submitted in partial fulfillment of the requirements for

Master of Business Administration (MBA)

Submitted by:
Nitin Kumar Upadhyay
Roll No:- 1512070016
Batch of 2015-17
Faculty supervisor Project guide
Dr. Pallavi Pathak Mr. Desh Deepak Srivastav
(Assistant Professor of (U.P East ASM of IFB)
Business Department)
.

Department of business administration

INSTITUTE OF TECHNOLOGY & MANAGEMENT GIDA,
GORAKHPUR (U.P.)
(Affiliated to A.P.J.A.K.T.U. Lucknow)

i
 ACKNOWLEDGEMENT

I express my gratitude to management of IFB Industries Ltd. and CLB Infonix

who has shown confidence on me and bestowed upon me this valuable task.

I take the opportunity to express my sincere thanks to Mr. Desh Deepak Srivastav

(U.P. East ASM of IFB) for his scholarly guidance throughout the course of the

project. My profound sense of gratitude is also to Mr. Ashish Shukla(TSR IFB

Gorakhpur) for his Valuable suggestion.

I also thank Mr. Abhishek (Gorakhpur ASM of IFB) for providing me such a nice

opportunity to work with an esteemed organization. Last but not the least; I am

grateful to my friends & seniors at IFB Industries Ltd. who gave me the moral

support in my times of difficulties. Last but not the least I would like to express my

special thanks to my family for their continuous motivation and support.

Thank you all for being there for me always.

Student Name:-Nitin Kumar Upadhayay Signature:-

Date:-

ii
 PREFACE

With a great pleasure I am presenting my project report on Demand and supply of

IFB product in Gorakhpur zone of IFB Industries Limited, Gorakhpur. It was a

amazing experience to get exposed a corporate world with immense learning at

every step of the project and to know about the work culture and how an

organization work to analyze the need of their product in a region.

The project which was assigned to me is to analyze the need and wants of home

appliances, to identify and make improvements in IFB products to fulfill the

expectations of the customer. It was weekly divided in two months. The data was

collected from each and every resources which proved beneficial to make production

and supply of the product.

Therefore, I take this opportunity to present the project report and sincerely hope

that it will much knowledge enhancing to the readers as it was to use during the

fieldwork and the compilation of the report.

iii
 EXECUTIVE SUMMARY

In today's modern world every company wants to compete with others to remain in

the market. So it is necessary for the company to analyze and know the needs and

wants of the customer. It is very important for the company to know which
product

is preferred by the company on what basis.

The objective of this project report is to summarize the activities I undertook as a

part of my summer internship at IFB Industries Ltd Gorakhpur. I had to work in

coordination with company team to analyze the demand of IFB product in

Gorakhpur zone.

In the earlier part of the project I have discussed about the demand of IFB products

. I have also discussed about the supply of IFB product in Gorakhpur zone.

The research is carried out by using primary data. The method that i have used is

questionnaire technique to get data from customer and dealers. The sample size is

of one hundred fifty customers of Gorakhpur zone those who are using and not

using IFB products.

From this study I have find that IFB has major market in microwave and washing

machine both front load and top load as comparison to others brands. There were

45% of people of Gorakhpur zone using front load fully automatic washing

machine which is of IFB and around 12%- 15% of public is demanding for it.

iv
 CONTENTS

S.No. Topics Page No.

Chapter 1 Introduction
Project title
Objective of project
Project description

Chapter 2 Industry Profile

Industry overview
Company profile

Chapter 3 Research Methodology

Chapter 4 Data Interpretation

Chapter 5 SWOT analysis of IFB

Chapter 6 Findings

Chapter 7 Conclusion & recommendation

Chapter 8 Limitations

Chapter 9 Bibliography

Chapter 10 Appendix

v
 Objectives of the project

The major objectives of this project are as follows

To get describe the practical situation of business

To know how things practically in corporate world
To analyze the need of customer
To analyze the customer perception towards IFB appliances
To analyze what factor effect consumer buying of home appliances
To analyze the dealer perception towards IFB appliances
To learn to attract with various people in corporate world
To understand the importance of need of customer for company

vi
 Industry Overview

Introduction

Durables goods are those goods which do not wear out quickly, yielding utility

over a time rather than at once. Durable goods are a category of consumer

products Had do not need to be purchased frequently because they are made to last

for a long time (usually lasting for three years or more). They are also called

consumer durables or durables. Examples of consumer durable goods include

electronic goods, home finishing and fixtures, leisure equipment and kitchen

appliances.

They can be further classified as either white goods, such as refrigerators, washing

machine, air conditioners or as brown goods such as microwave, television, DVD

player etc. The Indian consumer durable segment can be divided into 3 consumer

electronics groups:-

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 White Goods Brown Goods Consumer Electronics

Air condiioners Mixer Televisions

Refrigirators Grinder Mobile
Washing Machine Microwave DVD players
Sewing Machine Iron VCD players
Cleaning Equipment
Electronic Fan MP3 players
Other domestic
Cooking range
product
Chimneys

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Growth & development

Rise in disposable income

Availability of newer variants of products
Product pricing
Rise in the share of organized retail
Innovative advertising and brand promotion
Festive reason sales

Challenges are plaguing the consumer durables sector:

Threat from new entrants, especially global companies.

Rivalry and competition.
Potential markets remaining yet untapped
Threat for substitute products/services.
Customer power with respect to availability of choice.

ix
 Industry analysis

In todays modern world after 1980s the desire for the consumer durable goods

got arises and customers want those kind of goods which make their work

comfortable and easy at home. When the companies find that customers want such

kind of goods which make their work easy and comfortable at home then they start

producing such goods like refrigerators, washing machine, etc.

Consumer durables goods are the category of consumer products that do not have

to be purchased frequently because they are to be made to last for an extended

period of time (typically more than three years).

Classification of consumer durables goods

Consumer durables goods are categorized in two categories. These are as follows:-

1. Brown Goods: - The goods which are used in kitchen to make the kitchen
work easy are known as brown goods. It is also known as kitchen appliances

2. White Goods: - These are which are used to keep food stuffs fresh for long
time. Some white goods are those which are used to keep home environment
fresh and clean.

x
 Consumer Durables Goods

White Goods Brown Goods

Refrigerators Microwave
Washing Machine Chimneys
Air Conditioners Hob
Speakers

xi
Success in the industry would depend on addressing key
factors:-

Market positioning and branding

Product technology
Distribution and service networks
Attractive locations

1. Market positioning and branding

Addressing key customer requirements that act as demand drivers by

Proactive marketing and establish strong brand association.

2. Product technology

Provide technologies that benefit the customer through lower service

requirement, low cost of operations etc.

3. Distribution and service networks

From saturated urban regions to low presentation rural areas. Distribution

networks and brand recognition will continue to play significant role.

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4. Attractive location

With raw materials forming a significant clunk on cost,

production facilities located near products to important cheaper raw

materials provide an advantage.

xiii
Market players in industry

xiv
 Company Profile

Company Name

Indian fine blank industries limited (IFB)

Head Office Address

Flat No. IND -1 East Kolkata Township

Kolkata: 700088

West Bengal, India

IFB Industries Phone Number: (33) 39849524, 39849475

IFB Industries Website:www.ifbindustries.com

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 Company History

IFB Industries Limited originally known as Indian Fine Blanks Limited

started their operations in India during 1974 in collaboration with Hienrich
Schmid AG of Switzerland. It is an India- based company. The company is
engaged in manufacturing and marketing engineering products. They
operates in three segments namely engineering, home appliances and others.
The engineering divisions are located Kolkata and Bangalore. The
companys product range includes fine blanked components, tools and
related machine tools, such strengtheners, decoyers, strip loaders and others.
They also provide household appliances, including washing machines,
dryers, microwave ovens and dryers. In addition, they manufacture motors
for white goods and automotive applications.

The company was established with the objective of manufacturing fine

blanking tools press tools and fine blanked components used in wide range
of precision engineering industries. In the year 1985, the company took 4.8
acres of land on lease at Gangarampur in West Bengal for the manufacture
of high technology of machines as well as for future expansion-cum-
diversification programmes. In the year 1988, the company setup new
division, namely Project and Construction division, to take up projects

abroad as well as in India. In addition, the company in association with P A

Rentrop Hubert and Wagner Gmbh & co KG West Germany setup a joint

xvi
venture company called RHW India Pvt. Ltd in India for the manufacturer
of automatic seat adjustment mechanism. In collaboration with Bosch-
Siemens Hausgerate Gmbh, Germany for production of fully automatic
washing machine and for the manufacturer of the state-of-the-art domestic
appliances. The company changed their name from Indian Fine Blank to
IFB Industries Ltd with effect from July 1989.
.

Year events 1988- 89some divisions started -

1. Home appliances factory in Goa
2. Motor car division in Bangalore
3. Fine blanking division in Gurgaon

Year events 1992- entered in to Gujarat Market

Year events 2012- IFB is on no. 1 in front load washing machines and
no. 3 in microwave oven. IFB has monopoly in dishwasher and clothe
dryer.

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 IFB Vision

To be the customer's first choice

IFB Mission

To maximize shareholder's value and growth by manufacturing and

Marketing top quality products.

To be the best in the eyes of our customers, employees, business partners

And shareholders.

TobeineveryhomevaluedatRs.15lakh+andachieveourtargetofRs.

4,000croreturnoverby201617.

For our Customers: To offer them the best product to buy, an innovative

product that constantly out performs peers and outstanding service that

makes every customer smile.

xviii
For our Employees: To provide them with an environment in whichever

Individual learns, grows and prospers.

For our Business Partners: To enable the motto consider IFBs products and

Services as their first choice.

ForourInvestors:TheCompanyshouldbeacknowledgedastheonewiththehighestdeg
reeofcorporatetransparency;thatdeliversonthepromises

Given to its shareholders.

IFB Industries Limited is a US$250 million

Diversified business house having interests in appliances, automotive

Component, alcohol and marine foods. IFB businesses enjoy leadership

Status and in most product categories have a dominant market share. The

Business easer built on the ethos of quality, technology and customer

Focus as well as financial prudence. The IFB brand enjoys very strong

Equity in the minds of the customer and is amongst the most desired

Brands of India.

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 THE IFB GROUP

From Precision to Perfection

IFB celebrates over three decades of excellence, cutting edge technology and
solutions that have touched people's lives. We strive to achieve perfection through
constant innovation and bring you the best in quality and technology. The IFB
Group comprises four independent companies-

1. IFB Industries Ltd.

-Fine Blanking Division

-Home Appliance Division

2. IFB Automotive Pvt. Ltd.

3. IFB Agro Ltd.

4. Travel Systems Ltd.

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 IFB Industries Ltd.

IFB Industries Ltd. comprises two divisions:

A. Fine Blanking

B. Home Appliances.

The Fine Blanking Division, originally known as Indian Fine Blanks Ltd,
started operations in India in 1974 in collaboration with Heinrich Schemed
AG of Switzerland. Its initial products ranged from fine blanked
components and tools to related machines like strengtheners, decoilers, strip
loaders etc. Its engineering divisions are today located in Kolkata and
Bangalore.

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The Home Appliances Division was started in 1991 with the vision to
revolutionize the way Indians live. Over two decades, we have grown in
strength to become a word synonymous with home solutions. Through a
constant evolution of the very best Washing Machines, 100% Clothes
Dryers, Dishwashers, Microwave Ovens, Air Conditioners, Refrigerators,
Cooker Hoods, Modular Kitchens, Built-in Ovens and Built-in Hobs, we
have helped usher in a lifestyle of convenience and freedom. Today,
millions of Indian households use IFB products, making us one of the most
trusted home appliances brands in the country. Our service network of 650+
franchises and 2,832+ service engineers ensures we deliver exceptional
service across the country.

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 IFB Automotive Pvt. Ltd.

IFB Automotive Pvt. Ltd. pioneered the manufacture of fine blanked automotive
components, seating systems, door systems and automotive motors in India to
meet the growing needs of the auto industry. The Company has built a reputation
as a leading technology provider for safety critical and comfort related products in
the automotive sector. With a state-of-the-art R&D division, IFB Automotive Pvt.
Ltd. has the capacity to develop new products responding to the diverse needs of
its domestic and international customers.

Against a backdrop of tough global competition, IFB Automotive Pvt. Ltd. strives
to meet the highest quality demands of national and international regulatory
bodies as well as stringent customer specific requirements.

xxiii
 IFB Agro Industries Ltd.

IFB Agro Industries Ltd. has, over the years, carved a niche for itself in India and
abroad for its various consumer-oriented products both for domestic and export
markets such as packaged foods, fine spirits, dry ice, bottling etc. The corporate
office is located at EM Bypass, Kolkata, West Bengal and is listed in the BSE & NSE
indexes. The plant is located within 15 km of traditional farmland. It is certified by
the US Food and Drug Administration (USFDA) and the European Union (EU).

xxiv
 IFB Travel Systems Ltd.

IFB Travel Systems Ltd. is the travel division of the IFB Group. Apart from our
existing three million customer base, we also have 56 direct offices, 314 service
franchisee outlets and 6,500 dealers in India alone. Our travel division was
established in 1991 and presently we have offices in Kolkata, Bangalore, Goa and
Delhi. Of these, the first two are IATA accredited. We shall soon open offices in
Kerala and Chennai.

At present, we provide service support to private companies across India. We are

also joining the elite club of Online Travel Agents (OTA) with the launch of our
online travel portal. The portal will have features to service direct customers

xxv
(B2C), other businesses (B2B) and corporate companies with our comprehensive
Corporate Booking Tool (CBT). This will help us service our existing customer base

even better and also expand our network to other parts of India. The product
range includes air tickets, hotels, cars, buses, transfers, holidays, cruises etc. Our
goal is to establish ourselves as an internationally recognized top-of-the-line
provider of travel. This motivates us to offer new and better product ranges in all
segments of the travel industry.

xxvi
 IFB Privilege

IFB home appliances pioneered many modern trends in the Indian household.
Once the year IFB has developed products that have Change your lifestyle not only
through best in wash care technology, bud also through wide range of state of the
art dryers, dishwasher chimneys & microwave oven. Today more than 4 million
household on IFB products, making us of the trusted home appliances company in
the country. Our customer base is going rapidly not only because of our products
but also because of the exceptional quality of service. Our service network covers
the length and breadth of the country, with more than 200 franchises across more
than 1050 towns; we feel that it is the time of launch IFB privilege a truly
rewarding loyalty programmed. More importantly, it is thank you gesture to all
our loyal customers who has always believe in superiority of our products and
services.

xxvii
Key performers and key performing data

Whirlpool India

On 26th July 2013 whirlpool launched six new range of products in six
category priced between Rs.10000 to Rs. 100000

2014: Whirlpool launched Protton 3door refrigerators and 3D climate

control dual fan air conditioner.

Whirlpool said that they hoped to capture 35 to 40 percent market share by

the year- end . The firm has 25 percent market share at present.

Videocon

In 2012 Chennai: Home appliances manufacturer Videocon Industries' Rs

1,500 corer manufacturing plant in Tamil Nadu would begin production in
next three to four months, according to a top company official.

Videocon industries reported a standalone net loss of Rs 381.93 corer for the
quarter ended on September 30, 2016, due to lower income from operations.

Expect to complete 40% stake sale

xxviii
 Samsung

Convertible Freezer with dual benefit of extra Fridge Space and Energy
Savings
Samsung is to launch a range of smart refrigerators, air conditioners and
washing machines as its seeks to expand its business in Internet-connected
homes
The company offers wireless home security, automation service and
connected car service Drive got intenerated in such a manner that
customer can guide their home from dashboard

LG

LG Electronics (LG) has become the worlds first to receive Certified

Emission Reduction (CER) credits in appliance industry
LG is the first washing machine capable of handling dual loads
simultaneously, will also be making its European debut at IFA 2015.
LGs DUALCOOL is the first air conditioner to utilize LGs energy-
efficient Dual Inverter Compressor for energy savings without
sacrificing cooling performance.

xxix
 Project Description

Demand and Supply

Demand and supply is one of the most basic and fundamental concepts of economy

and marketing. The relationship between demand and supply results in many

decisions such as the price of an item and how many will be produced in order to

allocate resources in the most cost effective and efficient way.

According to law of demand demand for a product increases when price

decreases

and demand a product decreases when price increases keeping all other factor

constant

xxx
According to law of supply an increase in price result in increase in supply of a

product and decrease in price result in decrease in supply of a product keeping all

other factor constant

Demand refers to the how many people want those goods. Supply refers to amount

Of goods are available. Demand and supply of a product is proportional to each

other because:-

When supply of a product goes up, then demand is constant

If a price for particular product goes up and the customer is aware of all
relevant information, demand will be reduced for that product
If the demand for product reduces supply will also decreases

xxxi
 Research Methodology

Meaning

Research is an intensive and purposeful search for knowledge and

understanding of social and physical phenomenon. Research is scientific
activity undertaken to establish something, a fact, a theory, a principle or an
application. One can also define research as a scientific and systematic
search for pertinent information on a specific topic. Infect research is art of
scientific investigation. According to John W.Best Research is the
systematic and objective analysis and recording of controlled observation
that may lead to development of generalization, principles or theories
resulting prediction and possibly ultimate control of events

Source of Data Collection

1. Primary Data

In primary data collection, you collect the data yourself using methods such
as interviews and questionnaire. The key point is here is that the data you
collect is unique to you and your research and, until you publish, no one else
access to it.

There are many ways of collecting primary data and the main methods are as
follows:-

xxxii
 Questionnaire
Interviews
Focus group interviews
Observation
Case-studies
Portfolios
Critical incidents

2. Secondary Data

In secondary data collection, the company uses information from other

sources that has already been researched by somebody else. Instead of
carrying out research yourself like in primary research, you use somebody
elses results that have already been collected and carried out in similar ways
to how you would have carried it out.

There are many ways of collecting secondary data and the main methods are
as follows:-

Websites
Other companies report
Magazines, etc.

xxxiii
I have collected both type of data, Primary Data and Secondary Data
(provided by company). I relied on the data given by respondents through
questionnaire designed by me.

xxxiv
 Data Analysis & Interpretation

Response of 30 dealers through personal interview

1. Which of the following brand machine you kept?

Brands Respondents Percentage

IFB 9 30%
Whirlpool 10 33%
Videocon 5 17%
Others 6 20%
Total 30

Respondents

IFB
Whirlpool
Videocon
Others

xxxv
Interpretation:
30% dealers kept IFB washing machine
33% dealers kept Whirlpool washing machine
17% dealers kept Videocon washing machine
20% dealers kept others brand washing machine

Inferences:
According to above survey most of the dealers kept Whirlpool washing
machine.

xxxvi
2. Do you know about IFB?

Respondents

Yes No

85% 15%

Respondents

Yes
No

xxxvii
Interpretation:

85% dealers know about IFB

15% dealers dont know about IFB

Inferences:

According to above survey most of the dealers know about IFB.

xxxviii
 3. What you would like to do in IFB?

IFB Products Respondent Percentage

Washing Machine TL 8 27%
Washing Machine FL 14 47%
Microwave 5 16%
Dishwasher/Ac. 3 10%
Total 30

Repondents

Washing machine TL
Washing machine FL
Microwave
Dishwasher/AC

xxxix
Interpretation:
27% dealers like to do TL washing machine
47% dealers like to do FL washing machine
16% dealers like to do microwave
10% dealers like to do dishwasher & A.C

Inferences:
According to above survey most of the dealers like to do IFB front load
washing machine.

xl
4. Which factor influencing customer buying behavior?

Factors Respondents Percentage

Price 17 57%
Brand 8 27%
Service 3 10%
Others 2 6%
Total 30

Respondent

Price
Brand
Service
Others

xli
Interpretation:
57% customer got influenced by price
27% customer got influenced by brand
10% customer got influenced by service
6% customer got influenced by others factors

Inferences:
According to above survey most of the customers got influenced by
price.

xlii
5. Best brand in your show room as per sale?

Brands Respondents Percentage

Samsung 4 13%
IFB 5 17%
LG 6 20%
Whirlpool 9 30%
Videocon 4 13%
Others 2 7%
Total 30

Respondent

Samsung
IFB
LG
Whirlpool
Videocon
Others

xliii
Interpretation:
13% dealers says Samsung is best brand as per sale in their
showroom
17% dealers says IFB is best brand as per sale in their showroom
20% dealers says LG is best brand as per sale in their showroom
30% dealers says whirlpool is best brand as per sale in their
showroom
13% dealers says Videocon is best brand as per sale in their
showroom
7% dealers says others brands are good as per sale in their
showroom

Inferences:
According to above survey most of the dealers say Whirlpool is best
brand as per sale in showroom

xliv
6. Why others brands not doing sale?

Factors Respondents Percentage

High Price 16 53%
Low Quality 8 27%
Poor Service 4 14%
Others 2 6%
Total 30

Factors

High Price
Low Quality
Poor Service
Others

xlv
Interpretation:
53% dealer says due to high price brands not do sale
27% dealer says due to low quality brands not do sale
14% dealer says due to poor service brands not do sale
6% dealers says due to some other factors not do sale

Inferences:
According to above survey most of the brands not do sale due to high
prices.

xlvi
7. Which brand product customer demand more?

Brands Dealer Response Percentage

Samsung 10 33%
Whirlpool 8 27%
IFB 7 23%
Videocon &others 5 17%
Total 30

Dealer Response

Samsung
Whirlpool
IFB
Videocon &others

xlvii
Interpretation:

33% customers demand Samsung products

27% customers demand Whirlpool product
23% customers demand IFB products
17% customers demand Videocon & other products

Inferences:
According to above survey most of the customers demand Samsung
brand products

xlviii
8. What are the complaints of the customers related to products?

Issues Respondents Percentage

Body damage 11 37%
A.C cooling 7 23%
Internal fault 5 17%
Service 7 23%
Total 30

Cusomer Complaints

Body damage
A.C cooling
Internal fault
Service

xlix
 Interpretation:
37% customer complaints related to body of a product
23% customer complaints related to A.C cooling
17% customer complaints related to internal fault in products
23%customer complaints related to service of product

Inferences:
According to above survey most of the customer complaints related to
body of a product

l
 9. What changes you want in IFB products?

Changes Dealer Response Percentage

Price 14 47%
Quality 3 10%
Service 5 17%
Promotion 8 26%
Total 30

Respondent

Price
Quality
Service
Promotion

li
Interpretation:
47% dealers want reduction in price level of IFB products
10% dealers wants changes in quality of IFB products
17% dealers wants good service in IFB products
26% dealers want heavy promotion of IFB products

Inferences:
According to above survey most of the dealers wants IFB product at low
price

lii
 10. Display status of showrooms

Brands IFB LG Videocon Whirlpool Samsung Others

Washing 14 9 4 20 14 16
Machine TL
Washing 25 19 6 8 6 5
Machine FL
Microwave 28 26 9 11 16 9
A.C 6 3 9 7 11 13
Dishwasher 7 nil nil nil nil 3
Total 80 57 28 46 47 46
Percentage 26% 19% 9% 15% 16% 15%

Brands

IFB
LG
Videocon
Whirlpool
Samsung
Otthers

liii
Interpretation:
26% IFB product keep on display by dealers
19% LG product keep on display by dealers
9% Videocon product keep on display by dealers
15% Whirlpool product keep on display by dealers
16% Samsung product keep on display by dealers
15% Others brand product keep on display by dealers

Inferences:
According to above survey most dealers keep IFB product more over
counter on display

liv
 Response of 80 customers through personal interview

1. Do you recently purchase any washing machine?

Respondent
Yes No
57% 43%

Respondent

Yes
NO

lv
Interpretation:
57% customers had purchases washing machine recently
43% customers did not purchases any washing machine recently

Interference:
According to above survey most of the customers had purchases
washing machine recently

lvi
 2. Which type of washing machine you want?

Respondent Semi Automatic Fully Automatic

Percentage 45% 55%

Respondent

Semi Automatic
Fully Automatic

lvii
Interpretation:
45% customer like to buy semi automatic washing machine
55% customer like to buy fully automatic washing machine

Inferences:
According to above survey most of the customers like to buy fully
automatic washing machine

lviii
3. What features you want in IFB washing machines?

Features Respondent Percentage

Steam wash 27 34%
3D wash 22 27%
Eco wash 12 15%
Soak function 19 24%
Total 80

Steam wash
3D wash
Eco wash
Soak function

lix
Interpretation:
34% customer want steam wash feature in IFB washing machine
27% customer want 3D wash feature in IFB washing machine
15% customer want eco wash feature in IFB washing machine
24% customer want soak function in IFB washing machine

Inferences:
According to above survey most of the customer want seam wash
feature in IFB washing machine

lx
4. How much warranty you want on IFB products?

Warranty years Respondent Percentage

1-2 19 24%
2-4 20 25%
4-6 23 29%
6-more 18 22%
Total 80

Respondent

1-2 years
2-4 years
4-6 years
6-more year

lxi
Interpretation:
24% customers want 1to 2 years warranty on IFB products
25% customers want 2to 4 years warranty on IFB products
29% customers want 4to 6 years warranty on IFB products
22% customers want 6 or more years warranty on IFB
products

Inferences:
According to above survey most of the customers want 4 to 6
year warranty on IFB products.

lxii
5. On what basis you purchase IFB washing machine?

Base Respondent Percentage

Brand name 33 41%
Price 29 36%
Features 12 15%
Others 6 8%
Total 80

Respondent

Brand name
Price
Features
Others

lxiii
Interpretation:
41% customer buy IFB washing machine on the basis of brand
name
36% customer buy IFB washing machine on the basis of price
15% customer buy IFB washing machine on the basis of features
in it
8% customer buy IFB washing machine on some other basis

Inference:
According to above survey most of the customer buy IFB washing
machine on the basis of its brand name.

lxiv
 6. Do you know about IFB?

Yes No

72% 28%

Respondent

Yes
No

Interpretation:

72% customers response that they know about IFB

28% customers response that they dont know about IFB

lxv
Inference:
According to above survey that most of the customers know about
IFB

lxvi
7. On what basis you purchase specific brand washing machine?

Basis Respondent Percentage

Price 45 56%
Features 17 22%
Body 12 15%
Others 6 7%
Total 80

Respondent

Price
Features
Body
Others

lxvii
Interpretation:
56% customers purchase washing machine on the basis of
price
22% customers purchase washing machine on the basis of
features
15% customers purchase washing machine on the basis of
body
7% customers purchase washing machine on some others
basis

Inference:

According to above survey most of the customers purchase

washing machine on the basis of price margin

lxviii
8. How much you are satisfied with your purchase?

Satisfaction Respondent Percentage

Unsatisfied 15 19%
Below satisfied 25 31%
Satisfied 30 38%
Highly satisfied 10 12%
Total 80

Respondent

Unsatisfied
Below satisfied
Satisfied
Highly satisfied

lxix
Interpretation:

19% customers are unsatisfied with their purchase

31% customers are less satisfied with their purchase
38% customers are satisfied with their purchase
12% customers are highly satisfied with their purchase

Inference:

According to above survey most of the customers are satisfied with their
purchases.

lxx
 9. What changes you want in your washing machine?

Changes Respondent Percentage

Steam wash 21 26%
3D wash 25 31%
Hot wash 20 25%
Less time consuming 14 18%
Total 80

Respondent

Steam wash
3D wash
Hot wash
Less time consuming

lxxi
Interpretation:

26% customer want steam wash in their washing machine

31% customer want 3D wash in their washing machine
25% customer want hot wash in their washing machine
18% customer want less time consuming washing machine

Inference:

According to above survey most of the customer want 3D wash in their

washing machine

lxxii
10. Why you are not buying IFB products?

Reasons Respondents Percentage

Price 33 41%
Features 21 27%
Body 8 10%
Others 18 22%
Total 80

Respondent

Price
Features
Body
Others

lxxiii
Interpretation:

41% customers are not buying IFB product due to high price rate
27% customers are not buying IFB product due to its features
10% customers are not buying IFB product due to its body
22% customers are not buying IFB product due to some others
reasons

Interference:

According to above survey most of the customers are not buying IFB
product due to its high price rate

lxxiv
 SWOT Analysis

A SWOT analysis provides an overview of a firms situation and is an

essential component of crafting a strategy tightly matched to the
companys situation. SWOT analysis provides a good overview of
whether the companys overall situation is fundamentally healthy and
unhealthy.

Components of SWOT Analysis

Strengths
Internal Weaknesses
Factors

Opportunities
External Threats
Factors

lxxv
 SWOT Analysis of IFB
Strengths
Brand image in Home Appliances Division
So many models to choose
Healthy financial banking
Innovative products
Compatable workforce
Strong after sales service
Wide distribution network in all the country
IFB
Opportunities
Sope for the growth in rural market
New launches can give more benefits
The trust on company products by its valued
customers
Weaknesses
Price of the products
Spare parts of the products are costly
No promotional activities
Less range of products in consumer
durables
Products are for summer season but no
products for winter season
Threats
Competitive pressure on the domestic
market
Threats from competitors in the area of
pricing
Significant rise in material cost and
exchange fluctuation that drastically
impacts margins
lxxvi
 PEST Analysis

A PEST analysis is a business measurement tool. PEST is an acronym

for Political, Economic, Social and Technological factors, which are
used to assess the market for a business or a organizational unit

Economic factors

Political factors PEST Analysis Social factors

Technological
factors

lxxvii
 PEST Analysis of IFB

Political Factors Economical Factors

High import duty Increases in per capita income
Plants in tax incentive area like Goa Growing GDP high disposable
and Bhopal income
Export promotion schemes of the Increase in spending power
Indian Government like EPCG
(Export Promotion Capital Goods
service), EOU (Export Oriented
Unit)
IFB
Social Factors Technological Factors
Improvement in technology made Manufacturing eco-friendly
the electronic products more products
featured Increasing life style and comforts
Quality of products has been
increased

lxxviii
 Findings on dealers survey

The survey was confined within Gorakhpur only so the outcomes

are not applicable for the entire state or country.
In this survey the sample size was of 30 dealers and 80 general
customers, so the sampling error might be occur or may not be
accurate.
Many customers and dealers does not entertain and they did not
want to disclose internal information
During survey I had find that most of the dealers know about IFB
and its products
After survey I had found that most of the dealers kept whirlpool
brand products.
During survey I found that most of the dealers outer sides of
Gorakhpur are interested to keep IFB products.
An around 47% to 50% dealer says that they like to keep IFB
front load washing machine.
According to dealers response that most of the customer buying
decision is got affected by the price of the product it means how
much cheaper it is.

lxxix
 After survey I was found that in most of the dealers showroom
whirlpool is the best brand as per sale

During survey most of the dealers respond that most of the brand
not doing sale due to high price and low quality of products.

During survey most of the dealers respond that Samsung,

Whirlpool & then IFB brand products more demanded by the
customers.

According to dealers response most of the customers made

complaints for bad or light body of the product which got damage
quickly

The dealers who keep and those who want to keep IFB brand
products they recommend that IFB need to produce low price
products and need to do heavy promotion so everyone come to
know about it.

After completing my survey I was found that in most of the

showroom IFB display status was maximum.

lxxx
 Findings on customers survey

In customers survey I have taken sample size of 80 general

customers which is appropriate.
During survey most of the customers respond genuinely and
correctly.
According to survey most of the customer around 60% had
purchase washing machine recently.
Those customer buy washing machine recently out of them most
are purchased top load washing machine.
After completing my survey I was found that around 55%-60%
customers want to buy fully automatic washing machine.
According to survey almost every customers know about IFB
brand.
The customers who are using IFB brand products they respond that
IFB need to produce lower segment products also. So everyone can
buy it.
Around 40% of the customers are satisfied with their purchases
But sill 35% of customers are not satisfied with their purchases
due to quality and service of the product.

lxxxi
 Most the customers response that they want steam wash, 3D wash
and soak kinds of features in their washing machines.

According to survey most of the customers are not buying IFB

brand products because it is costly and not available in their area
dealer shop.

lxxxii
 Conclusion

I have concluding this report on the basis of survey which I

have done in Gorakhpur so might be it is not applicable to
whole state and country
IFB is one of the most renowned brand in home appliances
sector.
IFB products are costly but there is quality in it. Their
washing machines are innovative and special features like
eco wash, 3D wash, steam wash, etc.
In Gorakhpur customers demanded for the product which are
available at low price.
According to survey in Gorakhpur region IFB products are
less demanded by the customers because they are costly.
In outer region area of Gorakhpur most of the customers
dont know about IFB. Due to which IFB do less sale.
IFB had never do any promotional activities so thats why
some of the less educated customers dont know about IFB
IN comparison to IFB brands like Samsung, Whirlpool are
doing good sale because they are producing lower segments
products at lower price

lxxxiii
 IFB has producing variety of products but they are costly and
only high class people can buy them.

In Gorakhpur region customers not going for the quality they

just demand for the products which are available at lower
price.

Customers buying decision is got influenced by the price and

by the publicity of product.

lxxxiv
 Recommendations

IFB need to increase their promotional activities

They should produce wide range of consumer durables
products
They should to produce product at lower cost and offer at
lower price
IFB need to produce goods for lower segment customers
also.
IFB need to increase their network by opening showroom in
most of the region.

lxxxv
 Limitations of the study

Since nobody is perfect in this world, everyone has some

limitations. Same in the case of this study also. These are the
following limitations:

Due to shortage of time, study was confined to specified area

of Gorakhpur.
Some respondents were hesitant to disclose some information
or they have given incomplete information.
There might have been some biased responses because of
which findings may not be 100% accurate.
The responses of some customers might be not correct.
Survey is done in a particular region so outcomes are not
applicable to whole country.

lxxxvi
 Bibliography

www.ifbindustries.com
www.ifbappliances.com
www.moneycontrol.com
www.topcompaniesindia.com
www.cmpany.monsteridia.com

lxxxvii
 Appendix

1. Do you recently purchase any washing machine?

A. Yes
B. No

2. Do you have any old washing machine before new purchase?

A. Yes
B. No

3. What type of washing machine you want?

A. Fully automatic
B. Semi automatic

4. Do you know about IFB?

A. Yes
B. No

5. What features you want in IFB washing machine?

A. Steam wash
B. 3D wash
C. Eco wash
D. Soak function

lxxxviii
 6. How much warranty you want on IFB products?
A. 1-2 years
B. 2-4 years
C. 4-6 years
D. 6-more years

7. On what basis you purchase IFB washing machine?

A. Brand name
B. Price
C. Features
D. Others

8. On what basis you purchase specific brand washing machine?

A. Price
B. Features
C. Body
D. Others

9. What type of service you expect from brands?

A. Low price
B. High quality
C. 24*7 customer service
D. Online service

lxxxix
10. How much you are satisfied with your purchase?
A. Unsatisfied
B. Below satisfied
C. Satisfied
D. Highly satisfied

11. What changes you want in your washing machine?

A. Steam wash
B. 3D wash
C. Hot wash
D. Less time consuming

12. Why you are not buying IFB products?

A. Price
B. Features
C. Body
D. Others

13. Any suggestion for IFB?

A. Promotion
B. Reduce price
C. Cheaper products
D. Others
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xci