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Studying the Market for Onida Washing Machines & Microwave Ovens in Pune Region & Investigating the Possibilities for Increasing the Market Share

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Studying the Market for Onida Washing Machines & Microwave Ovens in Pune Region & Investigating the Possibilities for Increasing the Market Share STUDYING THE MARKET FOR ONIDA WASHING MACHINES & MICROWAVE OVENS IN PUNE REGION & INVESTIGATING THE POSSIBILITIES FOR INCREASING THE MARKET SHARE With Emphasis on Identifying Factors Affecting – - Sales of ONIDA Washing Machines & Microwave Ovens in Pune Region, - Customer Satisfaction in Company’s After-Sales Service in Pune Region, and - Consumer’s Preferences towards Choosing a Washing Machine & Microwave Oven, Towards SUMMER INTERNSHIP (April 8, 2010 – June 8, 2010) At MIRC ELECTRONICS INDIA Ltd. (ONIDA), Pune Branch Under Guidance of Mr. Chandrasekhar Singh Prof. R.J. Masilamani Business Manager, ONIDA, Pune Branch BIMTECH By PARUL AGGARWAL 09DM084 PGDM (2009-2011) This is to certify that Ms. PARUL AGGARWAL, Roll No. 09DM084, a student of PGDM (Marketing) has worked on a summer project titled “A Study of the Current Market for Washing Machines & Microwave Ovens - Identifying Factors Affecting Sales of ONIDA Washing Machines & Microwave Ovens in Pune Region and Investigating Possibilities of Increasing the Market Share” at MIRC Electronics Ltd. (ONIDA), Pune, after Trimester-III in partial fulfillment of the requirement for the Post Graduate Diploma in Management program. This is her original work to the best of my knowledge. Date: June 8, 2010 ____________________________ (PROF. R. J. MASILAMANI) BIMTECH SEAL DECLARATION I, Parul Aggarwal, a student of Birla Institute of Management Technology (BIMTECH), hereby declare that I have worked on a project titled “A Study of the Current Market for Washing Machines & Microwave Ovens - Identifying Factors Affecting Sales of ONIDA Washing Machines & Microwave Ovens in Pune Region and Investigating Possibilities of Increasing the Market Share” during summer internship at MIRC Electronics Ltd. (ONIDA), Pune, for the partial fulfillment of the requirement for the Post Graduate Diploma in Management program. I indemnify my research work to be authentic and original to the best of my knowledge in all respects of the process carried out during the project tenure. My learning experience at ONIDA, Pune Branch, and in the market of the Pune Region (Pune, PCMC, Kolhapur, Ratnagiri, Sholapur, Osmanabad, and Goa), under the guidance of Mr. Chandrasekhar Singh, Business Manager, Pune Branch, ONIDA, and Prof. R. J. Masilamani, BIMTECH, G. Noida, has been truly enriching. Date: June 8, 2010 _________________________ (PARUL AGGARWAL) ACKNOWLEDGEMENT I would like to heart fully acknowledge my gratitude and thanks to all the people who took active part in accomplishing my project. To begin with, I would like to acknowledge my sincere thanks to Mr. Chandrasekhar Singh (Business Manager, Pune Branch - ONIDA) for providing me the opportunity to do my summer training at MIRC Electronics Ltd. (ONIDA). Without his guidance, support, and valuable suggestions during the research, the project would not have been accomplished. My heartfelt gratitude also goes to the entire ONIDA team at Pune Branch for their co-operation and willingness to answer all my queries, which made the project possible by edge. I would like to extend my thankfulness especially to Mr. Neeraj Bhat (Sales Manager, Pune Branch), Mr. Shirish Kalagi (Branch Accountant), Mr. Rajiv Govande, Mrs. Linda Rebello and the entire sales and service team of ONIDA and ADONIS for their support and valuable suggestions during these 2 months. I also sincerely thank Prof. R. J. Masilamani, my faculty mentor at BIMTECH, who enthralled my views, took out time to provide his valuable suggestions, shared his rich corporate experience, and helped me script down the exact requisites. Last, but not the least, I would like to thank all the Onidian and Non-Onidian dealers and distributors for sharing their experience in the market and giving their valuable time to fulfill the questionnaires. CONTENTS 1. ABSTRACT…………………………………………………………………………………….......................... 1-2 2. LITERATURE REVIEW 2.1Industry Profile ……………………………………………………………………………………………3-14 2.1.1 Consumer Durable Market in India – An Introduction 2.1.2 Washing Machine Industry – An Overview 2.1.3 Microwave Oven Industry – An Overview 2.2Company Profile – MIRC Electronics Ltd. (ONIDA)………………………………………………….15-18 2.2.1 An Introduction 2.2.2 ONIDA Product Range – Washing Machines & Microwave Ovens 2.2.3 Sales and Distribution Network – Pune Branch 2.2.4 After Sales Service System – Pune Branch 3. FORMULATING THE MARKET RESEARCH PROBLEM APPROACH ……………………………..19-26 3.1 A Background Study 3.2Marketing Research Problem Statement & Importance 3.3 Approach to Research 4. RESEARCH OBJECTIVES ………………………………………………………………………………….27-28 5. RESEARCH METHODOLOGY …………………………………………………………………………….29-31 5.1 Research Design 5.2 Data collection from Secondary Sources 5.3 Data from Primary Sources 5.4 Scaling Techniques 5.5 Questionnaire development and pretesting 5.6 Sampling 5.7 Fieldwork 6. PRIMARY DATA ANALYSIS & RESULTS 6.1Washing Machines ………………………………………………………………………………………32-43 6.1.1 Assessing the Current Market and Positioning of ONIDA WM in Pune Region 6.1.2 Identifying Factors Influencing the Sales of ONIDA Washing Machines 6.1.3 Categorizing Consumer Behavior - (Identifying Factors affecting Consumer preferences towards choosing Washing Machines) 6.2Microwave Ovens ………………………………………………………………………………………44-54 6.2.1 Assessing the Current Market and Positioning of ONIDA MO in Pune Region 6.2.2 Identifying Factors Influencing the Sales of ONIDA Microwave Ovens 6.2.3 Categorizing Consumer Behavior – (Identifying Factors affecting Consumer preferences towards choosing Microwave Ovens) 6.3After Sales Service ……………………………………………………………………………………..55-58 6.3.1 Identifying Factors Influencing Customer Satisfaction in After Sales Service for ONIDA Washing Machines and Microwave Ovens 7. LIMITATIONS AND SCOPE OF PROJECT ……………………………………………………………..59 8. CONCLUSIONS & RECOMMENDATIONS ……………………………………………………………61-62 9. APPENDIX 9.1Questionnaires and Forms ………………………………………………………………………………64-82 9.1.1Questionnaire for ONIDIAN Dealers and Sub-dealers 9.1.2Questionnaire for Assessing Customer Satisfaction in ONIDA’s After Sales Service 9.1.3Questionnaire for Non-Onidian Dealers 9.1.4Questionnaire for Consumer Behavior Study for Washing Machines 9.1.5Questionnaire for Consumer Behavior Study for Microwave Ovens 9.1.6Form for assessing the Sales and Distribution Network of ONIDA, Pune Branch 9.1.7Form for assessing the present After Sales Service system of ONIDA, Pune Branch 9.2 SPSS Output Files ………………………………………………………………………………………..83-87 9.2.1 SPSS Output for Regression Analysis for Factors Affecting sales of ONIDA WM 9.2.2 SPSS Output for Regression Analysis for Factors Affecting Sales of ONIDA MO 9.2.3SPSS Output for Regression Analysis for Factors Influencing Customer Satisfaction in After-Sales service of ONIDA 10.CD OF COMPILED DATA (Attached) 10.1 Dealer-wise & Area wise Market Research data for Pune region (2010) 10.2 Secondary Data analysis of 2009-2010 FY Sales data for WM and MO 10.3 Consumer behavior data Analysis – WM and MO 10.4 SPSS OUTPUT FILES CHAPTER 1 ABSTRACT In light of the intense competition facing the consumer electronics industry, manufacturers are constantly engaged in the creation of new products and introducing new technologies that would hopefully win consumers' acceptance. However, against a backdrop of changing technology and sophisticated consumer wants, gaining customers’ acceptance and increasing market share for both existing and new products becomes an uphill task. MIRC Electronics offers a wide range of consumer durables, including C-TVs, LCD TVs, Air Conditioners, DVD Players, Microwave Ovens, Washing Machines, and Mobile Phones, under the brand name ONIDA. Although the brand has been performing extremely well in the TV, DVD, and AC categories, it is lagging behind LG, Samsung, Whirlpool, IFB, Kenstar, and other major players in the categories of washing machines and microwave ovens, with a market share of only 6% and 8% respectively. In Pune region, ONIDA washing machines and microwaves ovens share only 5% and 7% respectively. Moreover, in top-loading washing machines, which are now more in demand, the share by value and volume is just 3.3%. Besides, on analyzing the past 4 years’ sales data for different territories in the Pune region, it was analyzed that more than 40% of the dealers, especially in the Pune city, has stopped dealing with ONIDA washing machines and the sales of microwave ovens have also been declining at these counters. In FY 2009-2010, there has been an increase of only 0.9% in sale of washing machines over the past year, which is not a very encouraging figure. Therefore, the primary aim of this research is to study the current market for ONIDA Washing Machines & Microwave Ovens in the Pune Region, with emphasis on identifying factors affecting the sales of these two product categories. In order to improve the market share and increase the scope for repeated purchases and brand loyalty that eventually leads to optimum profitability, it is important for marketers to first understand the consumer’s buying behavior and his preferences and perceptions towards choosing the product. At the same time, after-sales service is equally important in satisfying consumer needs, an important factor in creating long term profitable relationship with the customer. According to Alexander et al, 2002, after-sales may generate more than three times the turnover of the original purchase during a given product’s life-cycle, and often provides profitability higher than product sales (Alexander et al., 2002). Therefore, as
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