Brand, Loyalty & Technologys Impact on buying Television!

Brand, Loyalty & Technologys Impact on buying Television!

Market study to know upselling trends in TV segment
This paper presents about market forces playing role in deciding customers choice in new series Television selection with pull and push demands. There are upselling trends performed by dealers and retailers to attract customers to promote product sale. Study has been conducted to understand customers current buying behavior in LED/LCD TV sets offered by leading manufacturers in India and sold through retail network in Bangalore. This study has concluded limited scope in addressing WANT of customers for their future needs. There is need for further study to establish core development in technology selling when Customer is King and he/she knows his/her preference before stepping in any showroom. This project work is submitted in partial fulfillment for the requirement of PGCBM XLRI JAMSHEDPUR, March, 2011 Submitted to: Prof. Pingali Venugopal, Project Guide, XRLI Jamshedpur Submitted by: Ravi Kiran Luthra PGCBM-17/106458/RB10017

3/18/2011

Market study to know upselling trends in TV segment

DESCLAIMER
This project report is submitted by the author as prerequisite for the fulfillment of PGCBM course under XRLI Jamshedpur for academic purpose only. The views expressed by author in this report are personal and based on data collected from various TV stores in Bangalore City by meeting customers and Store Managers. This report is now part of XRLI Jamshedpur and the same or any part thereof may not be used in any manner whatsoever, without written opinion of XLRI, Jamshedpur.

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Table of Contents:
ACKNOWLEDGMENT ..............................................................................................................................3 ABSTRACT ...............................................................................................................................................4 Chapter 1 ...........................................................................................................................................5 Introduction: ...........................................................................................................................................5 Indian Television Industry growth story: ...........................................................................................6 Key developments in the Indian E&M Industry in 2008 .................................................................6 Impact of global economic downturn: ..........................................................................................6 2010 Broadcasting Scenario in India: ..........................................................................................7 Key Drivers for Entertainment Industry in 2009-10: ...................................................................9 Chronological order of events: ......................................................................................................9 Regulatory wish list from Union Budget 2011-12:.......................................................................9 Marketing Universe: ............................................................................................................................ 10 Market Universe for High-end TV industry: .................................................................................... 10 Samsung & Armani LCD TV: ........................................................................................................... 10 Plasma vs. LCD TV Market - LCD is Clearly Gaining Ground ........................................................ 10 Players in Indian Market to offer LED-LCD TV ................................................................................... 11 TV sale through Retail Stores in India:........................................................................................... 11 Chapter 2 ........................................................................................................................................ 12 Introduction: ........................................................................................................................................ 12 Store behavior: ................................................................................................................................ 13 Sales promotion strategy:............................................................................................................... 13 Push strategy: .............................................................................................................................. 13 Pull Strategy: ............................................................................................................................... 14 Purchase behavior attributes: .................................................................................................... 16 Survey Summary: ............................................................................................................................ 16 Chapter 3 ........................................................................................................................................ 21 Introduction: ........................................................................................................................................ 21 Marketing environment for TV manufactures: .............................................................................. 21 Product Life cycle of TV Products: .................................................................................................. 21 Brand ranking in LED-LCD TV segment (based on survey): .......................................................... 22 Competitive analysis of LCD LED players in Indian market (Period taken 2008-2011): ....... 22 Suggested marketer approach:...................................................................................................... 23 Summary: ............................................................................................................................................ 24 Reference: ........................................................................................................................................... 24 Glossary: .............................................................................................................................................. 24 Ravi Luthra, PGCBM 17, RB10017/1006458 Page 2

ACKNOWLEDGMENT
At the outset, I would like to thank my mentor and guide Prof. Pingali Venugopal, giving me direction to understand marketer approach throughout my course and instrumental in completion of my final project. It would have been impossible for me to give shape to my final project without his able guidance and his precious time given to me in odd hours. I would like to dedicate my project to my mentor Prof. Pingali Venugopal.

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ABSTRACT
This paper presents about market forces playing role in deciding customers choice in new series Television selection with pull and push demands. There are upselling trends performed by dealers and retailers to attract customers in promoting their products sale. Study has been conducted to understand customers current buying behavior in LED/LCD TV sets offered by leading manufacturers in India both MNC and Indian manufacturers and sold through retail network in Bangalore. The paper is all about understanding Power of Three; Brand, Loyalty & Technology (BLT). These distinct drivers are creating churn in high-end consumer durables. For some customers, Loyalty is no more taboo but some customers continue to be which can be understood as generation gap. The project study is presented in three main chapters. Chapter 1 shall be covering growth story of leading TV brands in Urban India, keeping target audience as Bangalore. This shall also cover brand positioning done by marketing managers. This chapter shall also highlight these companies brand and product growth strategy for last two-three years. Chapter 2 covers real time data analysis based on survey conducted by author himself. The survey is designed to capture customer behavior while shopping LED/LCD/Plasma TV market however, focused remained in the area of LED and LCD TV sales and with an eye on future NEED. Chapter 3 shall be concluding chapter where we shall further analyze the new opportunities and threats, doing SWOT analysis and arriving at direction setting for marketer to promote their existing brand value with blended approach. This study has concluded with a limited scope in addressing WANT of customers for their future needs. This paper is establishing a need for core development in technology selling when Customer is King and he/she knows his/her preference before stepping in any showroom. A wish list of advance features in next gen TV has been created, a looking forward approach that shall obsolete the current TVs in market and set open new challenges for marketers to identify new ways to bring back customers. Further study is required to understand the taste of customers and true technological advancement in binding Brand and Loyalty for manufactures like Sony, Samsung, LG & Panasonic; four MNC companies and doubling threat for Indian companies to sustain growth in competitive market. The clash of Titans is inevitable in next three years of technology boom.

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Chapter 1
Introduction:

The

Indian TV market has expended well in past three years, thus giving room for many growth stories in electronics white goods industry. Consumers changing buying behavior is causing big concerns for marketer to understand the pulse of Indian customers. Globalization of international products and travel across continental has bridged the knowledge gap for India urban customers. The vital part of the growth story is that customer is no more looking for Product Demo rather interested in more understanding about multiplyzation of existing and future gadgets with current TV Sets in market. Technology is on forefront in visual entertainment space, providing host of features to demanding customers Yeh Dil mange more. To understand the blended demands, comprising of present and future needs; proposed study was desirable. We would discuss growth story about Sony, Samsung, LG, Panasonic, Onida and Videocon brands etc; offering high quality television sets in Indian and International market. There are constant innovations from all these manufactures to be at their best, augmenting new technology in product betterment and offering customer their feature rich products at competitive price. Samsung was first to launch LCD and 3D TV in India and worldwide as pioneers and reaped the maximum benefits. Then Sony acted fast as early followers to this brand wagon by offering Monolithic Designed TV; followed by LG and Panasonics and so on The market environment was set on fire by Samsung so early that it took time to catch up with pace for giants like Sony, Panasonic and LG. These environmental factors are responsible for these dynamic changes. These marketing environmental factors have changed the face of India household single TV with single channel color broadcast from Doordashan to multi TV and multi-channel broadcast are: Macroenvironment Political; Economic; Technology; Natural and Infrastructural Socio cultural;

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 Microenvironment Suppliers; Buyers; Competition; Stakeholders Internalenvironment Production; Budget; Politics The other two key environmental factors are:

Other

Demographic environment Exponential City limit growth; Younger & educated population; Longer life of span; Life style changes mall cultural etc Economic environment Rise in per capita income; Consumer spending habits; Goods availability; Life style changes

Indian Television Industry growth story:

We shall go through the market data presented in line with above stated environmental factors. The market data about TV Industry and its growth projection in Indian market is significant. The first impression received from the details looks impressive. In recent survey conducted by PricewaterhouseCoopers in its Indian entertainment and media outlook 2009" report has estimated that the Indian Entertainment & Media (E&M) industry will return to double digit growth in 2010-11.

Key developments in the Indian E&M Industry in 2008

Impact of global economic downturn: Television - Recession had hit hard all sectors in 2008-2010. A positive aspect for the television industry was that viewers should be spending more hours at home for cost effective entertainment in tough times. This had leaded an opportunity for television to develop an unassailable lead between itself and other media. Moreover, that was the opportunity window for Indian TV manufacturing Industry.
Investments in the Television Industry in 2008 through M & A:

With recession on board, it was expected rise in demand for mass media entertainment based programs that could fuel growth in sale of TV Sets. To understand this turning point, we need to understand how TV based entertainment programs had attracted FDI in India. The focus was on content generation, availability and transmission. The data collected from various publications about flow of FDI during that period. The below data supports my point about potential growth had lead through these acquisitions. The objective was to enable quality content generation and transmission for Indian audience at national and international level.

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Digitalization initiatives in 2008 and now:

In 2007, TRAI proposed a new initiative by name Head-end-In-The-Sky (HITS) model as an alternative to the existing cable distribution. Instead of the MSOs providing the bundle, there will be a single HITS operator who will prepare the bundle of channels and beam it to the Head-end in the satellite. With the average Indian getting younger, and hence more likely to spend on non-essentials, the entertainment industry has the potential to grow explosively in the future. Now the industry is ready to enter a second stage of growth powered by the twin engines of technology (availability of quality infrastructure and the accelerated penetration of digital connectivity) and an enabling regulatory environment. 2010 Broadcasting Scenario in India: Annual growth rate for the television industry was projected by 22% over the next five years. At present, there are 110 million TV households in India; out of which 70 million are cable and satellite homes and the public broadcaster, i.e. Doordarshan (DD), serves rest of 40 million people. The notable factors to fuel growth of TV demand require infrastructure support. It is notable that India has emerged as strong player in attracting the investment the investment in 2008. The data table given below shows that India had alone attracted FDI investment ` 8206.6 million alone in media enrichment. In addition to this, there was huge investment in infrastructural development for content transmission. Since the FDI was restricted to less than fifty percent so we could estimate that more than ` 135 billion was invested during recession time which itself has a record when we compare with other countries. Indian TV industry is going to poise for huge growth, writing new chapter in history of India on Content enrichment.

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The above statistics shows that India had golden goose at that time and needed quality players in the field of Next generation TV manufacturing, setting up plants in INDIA and providing economic scale of operation. Revised forecast received in 2009 from KPMG; firm up TV growth industry in India.
M&E Industry (INR Billion) Television 2005 2006 2007 2008 CAGR (%) 200508 13.8% 2009 2010 2011 (P) 341.7 2012 (P) 399.1 2013 (P) 472.6 CAGR (%) 2009-13 14.5%

163.3

182.5

211.3

240.5

262.7

295.6

Source: KPMG analysis

Birds eye view of TV channels growth: The number of private satellite TV channels had grown astronomically over the years, from One TV channel in 2000 to 394 TV channels by 2009. In Jan 2010, this number has crossed 500 marks and 100 more channel applications as on hold with I&B. There is no consideration from I&B to allow any more channels and seeking TRIAs guidelines to regulate mushrooming of these channels. In addition to this, a number of foreign broadcasters are down linking their channels into India. There are 67 TV channels, uplinked from abroad, have been permitted registration to be down linked in India during the years 2006-2009. The above data churn gives us enough confidence to look for bright players in Indian market to capture this opportunity of business in manufacturing and broadcasting.

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Key Drivers for Entertainment Industry in 2009-10: Gradually liberalizing attitude of the Government Greater interface with international companies Advancement in technology Favorable regulatory initiatives Liberalized foreign investment regime Chronological order of events:
Year 2007 Govt. initiatives/Panel recommendations TRIA recommendation to initiate constitution of parallel TV signal distribution (HITS) to existing cable network Permission to invest in infrastructure to private parties over DD through FDI below 50% Investment in growth sector Infrastructural in Towers to relay digital signals FDI contribution of ` 135 billion in during recession time in infrastructure development TV Manufacturing Push to Special Economic Zone growth for max tax benefits Performance measurement Enabling regulatory environment for Govt. FDI contribution of ` 8206.6 million alone in media enrichment Impact on Industry segment Roll out of HITS and CAS to all metro cities in 2008, boost for TV industry Healthy growth in entertainment & media industry by 10%. TATA, AIRTEL, SUN TV, Reliance Industry and Dish Industry came to forefront for growth New plants in TV manufacturing Improved viewership

2008

2009

2010

Based on industry growth, Govt. raised cap in FDI to investment above 50% Tax incentive in Direct taxes and Indirect Taxes by Govt.

FDI contribution improved to ` 295.6Billion in TV industry Reduced production cost of product and content for TV industry

Regulatory wish list from Union Budget 2011-12:

Government should come up with solution to the industry challenges for improved performance in future. These concerns are:
Foreign Investment:

Enhancement in FDI limits for cable network and DTH to 74 percent. This is required to bring at par with other competing technologies such as IPTV. The good point is that Government has accepted to review this present limit from 49% to 74 in selective sectors.
Double Whammy:

DTH players are subjected to both service tax and entertainment tax. There is a demand for removal of such double taxation. Good and Service Tax possibly may bring solution to this problem.
Income-tax provisions:

Rectification of the anomaly/disconnect between the down linking policy and the tax provisions regarding conclusion of contracts or holding of marketing /distribution rights by the Indian Company and its consequential taxability.
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Marketing Universe:
Market Universe for High-end TV industry:
The Expanding Digital Universe, a white paper released by IDC with the help of EMC shows the vision of todays world, calling Digital Oilfield where the content shall transform from analog signal to digital format. Finally, the growth of the digital universe shall drive more by penetration of the devices into the population than by an increase in device capacities or resolutions. It is for the marketer and product development companies to en-cash this golden opportunity. I would like to share one more clipping where Samsung has engaged Armani (well known in fashion world) to create highly stylized HDTV for high-end consumer.

Samsung & Armani LCD TV:

It is evident that both product manufacturers and marketers are serious to set ground for high-end Entertainment. Indian consumers have seen latest generation Plasma TV and then LCD. Both products gave Indians a unique experience of digital world and understanding the product differentiation. Plasma TV has been with us for some time now and still hot to many consumers. However, industry experts summarize that LCD/LED TVs will be more widespread in the future due to their better energy efficiency than plasma TVs. Finally, it is consumers choice - Plasma or LCD-LED, which is the better.

Plasma vs. LCD TV Market - LCD is Clearly Gaining Ground

Indian consumers have been quick to choose LCD TVs over plasma due to futuristic technology and less cost. The market demand for these high-end
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technology products is increasing however; it is unclear if local manufacturers and suppliers prepared to grab the opportunity? The answer is that Not yet. However, major Korean brands like Samsung and LG, Japanese brands like Sony and Panasonic, and Indian brands like Videocon and Onida are heavily focusing on promotional efforts around LCD TVs alone. The other good reason of LCD sales going high is due to drop in LCD prices by 30-40 percent annually. Retailers are more comfortable in selling LCD TV sets than other CRT or Plasma based TV sets. Consumer electronics firms have invested so much in promoting LCD that in the mind of an ordinary consumer, LCD TV has become synonymous with flat panels." On an average, LCD TVs are growing year on year in the range of 80 to 100 per cent. The estimated market size of LED LCD TV is close to 20 million sets in India. This also serves as a motive to a bright 2010 market outlook. The unseen benefit for Plasma TVs growth is in large screen size, which is expected to grow by 15 percent, mainly new promotion drive, giving life-size experience watching customers most favorite program like IPL, World Cup Football matches in Clubs/ hotels etc

Players in Indian Market to offer LED-LCD TV

TV sale through Retail Stores in India:
In the last five years color television industry (CTV) had witnessed dramatic changes in the intensity of competition. Marketers are offering all sorts of customers pro schemes to improve sales of their brands; right from TV exchange schemes, gifts, and price offs promotional prizes, deferred payment schemes, bankers loan for easy payment plan, zero EMI and other incentives as promotional tools to attract existing and new customers. That certainly has made the market more competitive. Indian market leaders in CTVs like Videocon, BPL and Onida, holding entrenched position got challenge from MNCs such as Samsung, Sony, LG, Philips, Hailer, Panasonic and Sansui. It was clear that with new international entrants, the industry had to go through turbulence. Companies were relooking at their strategies and desperate growth. We shall study the competition impact for Videocon, Onida, Samsung, Sony, LG and Panasonic. Author conducted a comprehensive study; visiting multi-brand stores and exclusive showrooms of Sony, Samsung, LG and Panasonic and got first hand feedback from Store managers and customers about their choice of TV and buying process they would like to choose. These details will come up in Chapter 2.

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Chapter 2
Introduction:

The

Selling pressure in any electronic store is always high and remains throughout the year. Gone are the days when we used to see sales pressure during festival seasons such as Diwali and Durga Puja in north and Pongal, Ugadi and Makar Sankranti in South India. The pressure on sales is high due to fear of losing sales month-on-month due to technology getting outdated and launch of new models happening almost every alternate month. Dealers, Stockiest and Retail Stores are having sleepless night due to growing cost of inventory and lumpy sales. This is one big reason why marketers have to work hard, bringing out attractive sales models throughout sales. I have noted five distinct retail stores models: 1. Exclusive Stores owned by Companies such as Sony, Samsung, Panasonic etc 2. Franchises Exclusive Stores co-owned by companies with local partners such as Samsung with Pai Electronics 3. Multi-brand Electronic Goods Retails Store owned by existing established brands as brand extension such as Reliance Digital or Croma by Tata, e-Zone from Future Group, Next and Adishiwar etc 4. Multi-Brand Electronics Store owned by Hypermarket brand owners such as Big-Bazar and Total Mall, etc 5. Individual showroom owners for LG, Onida and Videocon brands Each of these stores has differentiated its sale strategy when it comes brand positioning and product selling. They call it, as My Store Strategy is different. These stores are selling units at Marketing Operating Price (MOP), which is always below printed MRP. Sales manager are under pressure to give revised MOP based on product age and inventory in stock. Higher the stores attached to one distributer, lower the MOP. There is noticeable conflict between Retail outlets such as Exclusive stores behavior than Multi-brand stores. The 2x2 matrix is used to capture behavioral differentiation.

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Store behavior:
B. Exclusive Company Showroom
B R A H N I D G HV
Sale is least concern High profit motive Specialization service is key offering Brand value Very High Post sales service preference is another key selling strategy Product and Brand marketing through company sale channels

C. Hypermarket (shop-in-shop)
Brand loyalty Neutral Volume driven sales Low profit motive Parallel branding (Pushing product variants with similar features at low price) Store promotion based on emotions

A L L U OE W

A. Exclusive Showroom
Sale is concern Profit is primary motive Brand value High Brand loyalty - High Would prefer company backing for sales promotions Look for loyalty bonus as main drive Mostly dependent on personal network

D. Multi-brand store
High sales primary motive Store runs promotional schemes Profit motive Medium Consulting selling for long term needs Brand loyalty Neutral Upselling is key focus keeping in mind young couples need Parallel brand offering (Store brand benefit)

Sales promotion strategy:

Multi-brand stores and Hypermarket outlets such as Reliance Digital, Big Bazar, e-Zone (Future Group), Total Mall, Viveks or Adiswars pick up majority of the sales. Higher the numbers of such individual stores in City, better the negotiating power with OEM/Stockiest. During the discussion with Store managers, author managed to find out Marketer & Store Push and Pull selling strategy. Push strategy: Marketer is creating push strategy by launching new or improved version of same products at shorter intervals by timing the market. As a long-term strategy, marketer plans for sponsorship international events like FIFA World Cup/ICC World Cup. right of

Sony took sponsorship for FIFA World Cup in 2010 and elevated its status for partnership in 2014 FIFA World Cup scheduled in Brazil.

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LG Electronics has long-term partnership for promoting International Cricket. For 2011 ICC World Cup, LG is again on forefront in pushing ICC World Cup special TV promotional campaign. Samsung has long-term sponsorship with Olympic since 2007 until 2016. Pull Strategy: Whereas, Store is using pull strategy to attract customers with lucrative offers month-on-month (based on emotional quotient of people). Here I would like to give one example. Based on authors experience of three year back; goodies based sales were very less and mostly attached summer and winter season festival seasons such as Diwali, Narka-chturthy, Christmas and New Year and during summer such as Holi, Independence day etc. Launch of IPL and T-20 were the game changers in TV industry where people would like to watch there a month long international cricket where size of TV screen does matter. Another noticeable Pull strategy is to use of Indian and western festivals to attract sales throughout the years. Sharing the table for reference: # 1 2 3 4 5 6 7 8 9 10 11 12 Month Jan Feb March April May June July August September October November December Sales promotion factor New year sale campaign Valentines day Maha Shivratri ,Holi Ugadi, Ram Navami Lean month FIFA World Cup-2010) FIFA World Cup-2010) Independence Day, Raksha Bandhan Navaratras (Durga Puja) Narka-chturthy, Dussera Winter season sales Christmas time

At Store level, crowd puller ads such famous Blind fold Sale from e-Zone of Future Group; ` 1 sale for any electronics goods from Total Mall; Buy back of old used household articles at unbelievable price (offering sale coupons) and generate new sales through coupons from Big Bazar (Future Group). Reliance Digital and Croma from TATA have also bi-monthly sales clearance to pull crowd by offering 30-40% discount on MRP. In addition to this Croma has launched LED-LCD under brand name Croma. Being an inhouse product, Croma is offering 40% less price than any other latest brand.

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Purchase behavior attributes: As part of my study about customers purchase behavior and their WANT in future, designed one questionnaire and asked customers to fill it. The questionnaire was designed to capture attributes during product purchase.

Marketer approach to sell future TV and capture brand loyalty Survey.pdf

The attributes are: Problem Recognition Information search Alternative evaluation Purchase decision Post-purchase behavior

Survey data received from 83 participants.

Marketing Survey Results.pdf

Survey Summary:
Attributes
Problem recognition Information search Alternative evaluation Purchase decision

1st takeaway
74.1% looking for Brand preference 79% looking for technology 79.3% would not like to try unknown brand 79.3% would like to consult life partner before PD 74% feel satisfied

2nd takeaway
64.2% looking for Value for money 44.4% looking for Cost factor 25% feel to fill up life-style need with High-end computers 75.9% would like to outsource purchase decision to experts 61.4% feel that new generation TV are must to match life style

3rd takeaway
50.6% looking for Postsales support 28.4% would like to go by their perception 31.3% would like to wait till they get life style matching product 56.8% do not believe in Best Buy scheme Sony as brand still rule the World

Post-purchase behavior

The above table shall help marketer to strategies market stimuli to influence buyers characteristics such as:
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Attitudes Motivation Perceptions Personality Lifestyle

Knowledge
Highlights of survey are:

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Chapter 3
Introduction:

changing needs of customers. Here in this chapter, we shall review key attributes used by marketers to improve their sales.

In last two chapters, we covered nuances of economic environment and

Marketing environment for TV manufactures:

Brand manufacture
Selling Attributes Technology; Picture perfect Emotional factor Brand conscious Market universe Upper and Upper middle class Upper and Upper middle class Middle and upper middle class Middle and upper middle class Perceived value Very High

Turn on Tomorrow; Tech friendly TURN ON TOMORROW Clarity Beyond Reality Feel the experience; Efficient Energy Saving Experience the Change

Brand conscious

Very High

Affordability

Medium

Affordability

Medium

Affordability

Middle and lower class

Medium

Eye Care

Viewing experience; fear of eyesight problems

Old age Officer, Young mothers

High

Product Life cycle of TV Products:

Based on my study about current TV products and market segmentation; PLC was developed by using different values given through rating.

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Product Life-cycle: TV segment

Growth Potential
Introduction Growth Maturity Decline A B 3D LED TV LED TV Plasma TV

D F B A

UltraSlim TV
Flat TV Samsung Media CRT based model

E
F G Time

Brand ranking in LED-LCD TV segment (based on survey):

Brand
Sony Samsung LG Panasonic Videocon Onida

Perceived value
Very High High High Moderate Moderate Moderate

Competition
High High High Very High Very High Very High

Marketing effort
Moderate High High Very High Very High Very High

Competitive analysis of LCD LED players in Indian market (Period taken 2008-2011):

I did a compressive data study. These facts are presented based on discussion with company officials and Internet based published stories.
Company Name Sony India Strategy Followed to counter rivalry Unique differentiator 1. Be in the mind of your customer: Investment of ` 18 B to promote LCD and Plasma TV alone. 2. Product Design: Picture & Design and technology 3. Dealers network: Double up the existing dealer network from 2500 to 5000 in 2010-11 1. Be in the mind of your customer: Investment in product branding by 3.5-4% of total turnover. 2. Production facility: Investment of ` 9B for plant & m/c 3. Samsung Plazas: Double up the numbers to 600 from 300. 1. Be in the mind of your customer: Investment of ` 4B in 2009-10 for prod marketing. 2. Product development Investment of ` 0.6B by 2013 for product customization 3. Focus on product uniqueness 1. Product branding Investment in product marketing. 2. Corporate re-branding investment 3. Product Innovation 1. Product innovation: Use of Integrated technology 2. Corporate re-branding 3. Value for money

2009-10 share 25 %

2010-11 share 30 %

Competitor Samsung & LG

Samsung India LG India

30 %

31 %

LG, Sony, Videocon, Samsung, Sony, Videocon LG, Samsung & Onida Videocon, Samsung, LG & Sony

23 %

21 %

Videocon Ltd Mirc Electronics Ltd (Onida)

10 % 9%

10 % 6%

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The LCD LED PIE: TV Unit Sales in 2010-11

Others, 18 % LG, 21 %

Samsung, 31%

Sony, 30 %

The above graph shows that every company is in the foray of capturing maximum market share of LCD LED segment. They want to reach out to their customers in shortest possible time and setting up unrealistic target for themselves. It is worth to note that all companies know the nearest competitors and planned their strategy to counter rivalry.

Suggested marketer approach:

Survey conducted by author provides direction for marketer to focus on building brand value where customer believes in Brand that reflects its values in technology trend, constant innovation and delivering value for money. Reading customers mind is like asking what woman wants. There is so much of variation within the targeted segmentation. A careful study on regular basis shall create a good database to help marketer in spotting the changes in customers taste. Highlight of the study give below.

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Summary:
This project gave me an opportunity to work in product market testing. This experience gave me good exposure in understanding the challenges faced by marketers. With this study, I could able stop latest trends in product selection by individuals. I would like to Thank Prof. Venu for giving my guidance on every step in completing this paper. Overall, I enjoyed working on this assignment.

Reference:
For secondary date: From Internet:

http://www.medianewsline.com/news/132/ARTICLE/4864/2009-07-29.html http://www.pwc.com/en_IN/in/assets/pdfs/PwC-Indian-Entertainment-and-MediaOutlook-2009-2.pdf http://www.kpmg.com/IN/en/ThoughtLedership/In%20the%20interval%20But%20ready%20for%20the%20next%20act.pdf http://www.indiainbusiness.nic.in/industry-infrastructure/service-sectors/mediaentertainment.htm

http://www.livemint.com/2009/01/14185541/LG-India-eyeing-top-slot-in-LC.html http://www.business-standard.com/india/news/videocon-eyeing-18-lcd-tv-marketshare/11/55/67085/on http://www.samsung.com/in/news/newsRead.do?news_seq=18428&gltype=localnews Printed material Times of India: Media Guide HDTV Magazine (http://www.hdtvmagazine.com) PC Magazine

Glossary:
LED Light Emitting Display LCD Liquid Crystal Display DTH Direct To Home CAS Conditional Access System CRT Cathode Rays Tube (Color picture Tube)
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