Marketing is about identifying and satisfying consumer wants and needs. What we need to think about more carefully is, once we have produced a satisfied consumer, will it do us any good? Will that make the consumer more loyal, will it complete the hoped-for progression from prospect through consumer to advocate for our products or services?
These are questions to which the answer is – probably not. In spite of
the huge amounts of money spent on measuring consumer satisfaction by companies, market research is failing to predict consumer loyalty.
The need of this research is to compare the satisfaction level of the companies, Samsung and LG. Samsung as well as LG both the companies are very raputated companies.and both are Korean companies. both the companies manufacturer same products. but the research will tell which company has the more power of customer? and which company’s customer are more satisfied?
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Many consumer satisfaction surveys are transaction-focused but fail to examine commitment to the brand and bonding. Satisfied consumers will still shop around, for all sorts of reasons most of which have little to do with the products or services that they have been provided with elsewhere. Some of these may be to do with convenience, some to do with availability, others to do with policy. We have come across instances where a consumer has almost begged a company to lower its prices to match those of its competitor. The consumer was extremely satisfied with the service that the company had provided over the past year, in this case in financial services. The consumer was told that their preferred company could not compete on price, as to do so was outside policy limits. in this project we are comparing two companies: Samsung and LG. both the companies are well renounced, have a good reputation in market.
Types of appliances
White goods comprise major household electrical appliances including:
freezer and refrigerator
furnace, also known as a central heating boiler
stove, also known as range, oven, cooking plate, or cooktop
SANSUNG COMPANY PROFILE:
Samsung is a Korean company that has risen to prominence in many fields over the years. The size and the scope of the company is almost unimaginable, as they are one of the largest and most diverse companies in the world. While the company is mostly known for their technology division [cell phones, radios, MP3 players, computer screens, and the like] they have many other divisions as well.
. This is not surprising, seeing as the company’s assets total somewhere around $300 billion. The company has some of the most loyal employees around and many work every day – that means no holiday time off or weekends — both because they want to and it is expected. The employs of sumsung company’s are mostly south korea’s finest employs. They are very much educated even PHD level.
To fulfill customer satisfaction, and meet the needs of the Indian market, Samsung plans to produce one or more models in the first year, four models in three years.
LG COMPANY PROFILE:
LG Electronics India Pvt. Ltd., a wholly owned subsidiary of LG Electronics, South Korea was established in January, 1997 .they made their new state of art manufacturing facility at greater Noida (1998), with an investment of Rs 500 Crores. This facility manufactured Color Televisions, Washing Machines, Air-Conditioners and Microwave Ovens. During the year 2001, LG also commenced the home production for its eco-friendly Refrigerators and established its assembly line for its PC Monitors at its Greater Noida manufacturing unit.
In 2004, LGEIL also up its second Greenfield manufacturing unit in Pune, Maharashtra that commences operations in October this year.
The Greater Noida manufacturing unit line has been designed with the latest technologies. Various studies have shown that the consumer is well informed on the health awareness front. LG was one of the first companies who recognized the emerging change in consumer needs and decided to differentiate their products on the basis of technology which appealed to the consumer on the basis of health benefits. The CTV range offered by LG has ‘Golden Eye’ technology, which senses the light levels in the room and adjusts the picture to make it more comfortable for the eyes. Similarly, microwave ovens have the ‘Health Wave System’, refrigerators have the ‘PN System’, which preserve the nutrition in food and washing machines have ‘Fabricare System’, which takes the health factor down to ones clothes. All the products offered by the company have unique technologies, developed by its R&D departments that give consumers a healthier environment to live-in.
The year 2001 witnessed LG becoming the fastest growing company in the consumer electronics, home appliances and computer peripherals industry.
LG Electronics India is the fastest growing company in the consumer electronics, home appliances and computer peripherals industry today. LG Electronics is continually providing superior technology products & value for money to more than 50 lakh households in India.
The objective of the study is to know the comparative measurement of customer perception regarding the services of two major companies that are doing their business in Panipat, Haryana region.
The research will provide an invaluable opportunity to conduct a research and practicing the theoretical knowledge while perusing PGDM and examining them against the ground realities.
“Our aim is to gain technological leadership in the Indian marketplace even as our goal is to earn the love and respect of more and more of our Indian consumers.”
RESEARCH PROJECT AIM:
The overall purpose of this work is to analyze the level of satisfaction of consumer of LG and Samsung.
To develop insight about the factors involved in consumer satisfaction related to white goods product in the transition phase of panipat, Haryana.
WHY I HAVE CHOOSE THIS TOPICE:
LG and Samsung both are the big name in the white goods product manufacturing company from South Korea. Both are equally strong, global company, and more or less with equal presence in Indian market. So it will be quite rational to compare these two brands.
Issue to be address:
Determining the factors affecting the consumer satisfaction.
What is the magnitude of those factors regarding the consumer satisfaction?
To know the customer perception, choice and preference regarding various electronic products.
Comparative measurement of customer satisfaction level for various white products available in Panipat, Haryana
To know the features of electronic products which attracts a customer most
A research design is purely and simply the frame work of plan for a study that guides. the collection and analysis of the data. Marketing research designs can be classified on the basis of the fundamental objectives of the research. There is mainly three types research design.
The sample will be selected medium size, of 100 respondents. The sample has selected non randomly. A sample size of 100 has been taken for this study. 50 consumers for LG and 50 consumers for Samsung.
Other factors that contribute to the sample plan are as follows
Sample size: 100 customers are to be questioned.
Area covered:- Panipat.
Response rate:- In terms of percentage, it was 90%.
The research will confirmed in panipat,Haryana
the outcomes will be based on the opinion of the respondent.
Single stage Non-random convenience sampling was undertaken to obtain information promptly and inexpensively. The sample size of 20 was taken. The respondents were contacted mainly at their home and the questionnaire was administered by me in person and the doubts regarding questions were cleared.
MATHOD OF ANALYSE AND INTERPETATION:
Microsoft Office was used during project for analyzing the results and preparing graphs, which were prepared especially for the survey, Microsoft Word was used for designing the Questionnaire and Microsoft Excel was used for analysis of data gathered. Data was recorded on regular basis and the results were obtained at the end from which inferences were drawn. In order to minimize the error in result and obtaining result in tabular and systematic manner, I had used computer.
Then standard deviation will be calculated by this formula:
The statistic T will be calculated by the following formula:
COLLECTION OF DATA:
Primary data: The primary data will be collect from questionnaire method. I asked from 20 respondent. Primary data was collected through formal structured questionnaires, which were administered personally. The structured format ensured greater control over responses and facilitated easy tabulation, editing and analysis.
Secondary data: I will collect secondary data from internet, jouranals, books, magazine etcâ€¦
The deliverables from the work are following:
Review of current situation of both the companies(Samsung and LG)
Review of the current situation of the customer satisfaction of the both companies.
Analysis the report on the issues faced by the manufacturer companies.
Analysis the report on the features that a customer wants in a product.
Mathematical calculation in term on satisfaction ratio to check on different assumption.
Strategy towards the customers need and want.
In project plan will be make schedule that in how much time we will be complete the research? In which week which work will be done? All these questions will be solve in this section. Every work will be done by time scale, as the following:
Secondary research study
Result from past research
Understand the business market
Collect the primary data
Finding out the
Main issue which
Customers are facing
Collect secondary data
Books, internet sites,
Finding the background of the issue
Analysis the data,
Elaborate the data
Find the facts about the issue, like to elaborate that of which company’s customer
Are more satisfied
Primary research consumer survey
Perception and behavior of Indian consumer
Mathematical calculation, like
t- test, calculate standard daviation
To clear the deffences between the both companies
Conclusion of the research, what outcome
SURVEY TIME: 15 WEEKS(ALMOST 4 MONTHS)
To elaborate the research problem primary and secondary data are require. primary data will be collected from questionnaire method and interview.
Secondary data will be collect through survey, books, internet.
Business research methodology : C.R Kothari
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Marketing research an applied : Naresh k. Malhotra Orientation (4th edition)
Marketing management (11thedition) : Philip kotlar
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