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Training Certificate
Name of Student Institute Branch/year Start date of training End date of Training Project Title Manish Kumar International Institute of management & Entrepreneurship MBA-marketing/2010-2012 September20th, 2011 October31th, 2011 Buying behavior /need Analysis &Generation of Prospective customer List for Sony Product
Date:-31/10/2011
Acknowledgement
I would like to thank Ikya Human capital solution Pvt. Ltd. for giving me this opportunity. I would like to thank MR. V.K. Shukla (Mentor of IIME) for taking interest in my project amidst his busy schedule. I extend my heartful thanks to for the constant and valuable guidance by him though out my course. I express my deep gratitude towards Mr.Vivek Chhugani (Area Sales Manager), Kanpur, for giving me permission to do the project in their organization and their valuable guidance at the company during the execution my project work at Sony Exclusive, Kanpur. I would like to take the pleasure of this opportunity to express my heartful gratitude to my guide Mandakini Maam (Faculty Member, IIME) who took personal interest and gave valuable suggestion through out my field work and completion of the project.
I thanks all my faculty member of MBA department tor their valuable suggestion throughout my course. The importance of the moral support and good wishes of my parents and friends is external and I am very much indebted to them. Finally, I thank all my friends who directly or indirectly helped me a lot during my project
Declaration
I Manish Kumar here by declare that project Entitled A Project report on Consumer buying behavior of Sony Product in Kanpur is the outcome of my research work. No part of this research has been submitted earlier to any institution or University for the award of any other Degree/Diploma. The sources of material, data used in this study have been acknowledged.
Executive Summary
One of the most recognized brand names in the world today, Sony Corporation, Japan, established its operations in India in November 1994, focusing on the sales and marketing of Sony products in the country. In a span of 12 years Sony India has exemplified the quest for excellence in the world of digital lifestyle becoming the countrys foremost consumer electronics brand. With relentless commitment to quality, consistent dedication to customer satisfaction and unparalleled standards of service, Sony India is recognized as a benchmark for new age technology, superior quality, digital concepts and personalized service that has ensured loyal customers and nationwide acclaim in the industry. In India, Sony has its footprint across all major towns and cities through a distribution network comprising of over 7000 channel partners, 215 Sony World and Sony Exclusive outlets and 21 direct branch locations. Manned by customer friendly and informed sales persons, Sonys exclusive stores Sony World are fast becoming the most visible face of the company in India.
Table of contents
Detailed Study
Introduction Objective of Study Limitation of Study Research Methodology Marketing Research Research Methodology Research Design &Sampling Data collection Company Overview Background of Company Company Profile Product range Comparison of Sony & LG Comparison of Sony & Samsung SWOT Analysis 28 30 33-40 42 44 45-47
S.No.
1
Page No.
9 10
12 14 15-20 22-24
Marketing Strategies Marketing Strategies Competitors Milestone of Sony Product Position of Sony in electronic Market Data Interpretations Conclusion Bibliography Questionnaire
5 6 7 8 9
Introduction
Introduction
The essay intends to discuss why it is necessary to understand competitors and how understanding of competitors can help successful planning of marketing activities. The essay intends to determine the importance of strategic marketing planning and its need of understanding a companys
rival. Through the essay a better understanding of strategic marketing planning, and the need to know competitors will be made.
Objective of Study
The objective of the summer Training is to ensure that I as a management student develop in real life for handling the specific project and also to develop all roundness in various management activities related to the area of my specialization. This training gives me a substantial corporate exposure and also serves as useful tool of interaction with the corporate sector.
The project has been derived from the field of Marketing and is entailed as Buying Behavior/Need Analysis & Generation of prospective Customer List for Sony Products in Kanpur, Uttar Pradesh The main idea behind this project is: To study the buying pattern of people towards consumer goods. To determine the major factors influencing the buying decision process of the target group. To set out some basic marketing implications for the marketers to cater to different needs of the targets group.
4. To have some insights on the relationship between marketing stimuli and youth responses.
Research Methodology
Marketing Research:Marketing research is the function thats links the consumer, customer and public to the marketer through information, that information use to identify & define marketing opportunities and problem, generate and evaluate marketing action and
monitors marketing programme and improve understanding marketing process -American Marketing Association
Importance Marketing Research: To Make Marketing Decisions Survive the Competition Helps to Decide Target Markets Maximize Profits Increasing the Sales
Consumer behavior: Consumer behavior is the process whereby individuals decide whether what, when, where, how and from whom to purchase goods on services. - Walter and Paul
Importance of Consumer Behavior:To design the optimal product or service for customers. To determine where the product or Service should be available that would easy for the customers to buy. To determine what price will the customers give up purchasing product or service? To determine which method of Promotion would be most effective for getting the customers to buy a product. It helps in changing the behavior of the consumers. To improve performance of the organization. To achieve the organizational objectives.
Research Methodology:-
It is the procedure use in making systematic observation and obtaining data, evidence on information as a part of research process.
Sample Size:Sample size is the number of observations used for calculating estimates of a given population. For example, if we interviewed 30 random students at a given high school to see if they liked a certain music artist, "30 students" would be our sample size.
Research design:A research design is a systematic objective and scientific plan developed for directing a research study. It constitutes the overview for data collection measurement and analysis of data.
Formal research design Completely randomized design:It involves only two principal: The principal of replication and randomization. When experimental areas homogenous for study, CR design is used in this condition.
It is an improvisation to CR design. Along with other two principal, local control can be applied in RB design.
Latin Square design:For agriculture related researches, LS design is used. The treatments in an LS design are also allocated among the plot that no treatment occurs more than once in any row or column. Factorial design:When more factors are showing more than one effects, factorial design is used for such studies.
Type of Sampling
1. Pure research It is done only for sake of knowledge. Intenension is not to apply it in regular practice. Pure research is also called basic or fundamental research. New theory or refinements of an existing theory are developed with the help of pure research .It lays foundation for applied research. It helps in finding critical factors in a problem. 2. Applied Research When real life problem require some solution and decision making applied research is carried on. Means applied research is problem oriented and action directed. It brings immediate and practice research example marketing research carried on for identifying chase customer habits to purchase so.
3. Exploratory Research
When researcher has no knowledge or little knowledge about unfamiliar problem .researcher makes the preliminary study. The objective of this research is to generate new ideas gathering new facts precise formulation of problem. At the first level is the discovery of significant variable in particular situation; at the second, the discovery of relationship between variable. -Kartz
4. Descriptive Research
This research is simple in nature and in its application. It is more specific exploratory research. It focuses on problem under study and also aims at a classification of the range of elements comprising the subject matter of study. It highlights method of data collection and interpretation. 4. Diagnostic Research It aimed towards in depth approach to reach the basic casual relation of a problem and possible solution for it. Problem formulation, defining the population correctly for study purposes, proper methods for collecting accurate information ,correct measurement of variable , statistical and test of significance are essential in diagnostic research.
5. Experimental Research
To have the understanding of the effects of particular variable in a process by keeping other variable constant or controlled experimental research is used. It developed the relationship among variable i.e. how they are related to each other.
6. Analytical Study
Quantitative data is analysis with the help of mathematical models or statistical technique applicable to numeric data. In other words Analytical study is also called as statistical method.
7. Historical research
When finding have to be made with the help of old existing source like documental and other information sources to understand events an ides of the past ,historical research is very useful.
Sample design:A procedure or plan drawn up before any data is collected to obtain a sample from a given population. Also known as sampling plan, sample design.
Quota Sampling: Using this method the sample audience is made up of potential purchasers of your product. For example if you feel that your typical customers will be male between 18-23, female between 26-30, then some of the
respondents you interview should be made up of this group, i.e. a quota is given.
The judgment sample: A judgment sample is obtained according to the discretion of someone who is familiar with the relevant characteristics of the population.
Data Collection
The project consisted of analysis of performance of the several consumer durable brands. In this particular project fundamental research was also carried out which attempted to explore knowledge through methods like personal interaction with the customers. Data Collection Methods Primary data Secondary data
PRIMARY DATA:Primary data is data that has not been previously published, i.e. the data is derived from a new or original research study and collected at the source, e.g., in marketing, it is information that is obtained directly from first-hand sources by means of surveys, observation or experimentation The information provided by the customer & staff members. Through the personal interaction with the help of questionnaire.
SECONDARY DATA
"Secondary data are those already in existence for some other purpose than the answering of the question in hand." - M.M. Blair Websites of consumer durable brands. Like Sony, Samsung, LG etc.
Company Overview
Company Overview
Company: Managing Director: Date of Establishment: Location: Sony India Pvt. Ltd. Mr. Masaru Tamagawa November 17, 1994 A-31, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi 110044, India. 728 Rs. 550 million 100% subsidiary of Sony Corporation, Japan Delhi, Haryana, Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, Vijayawada, Jaipur, Chandigarh, Lucknow,
Pune, Ahmadabad, Indore, Cochin, Coimbatore, Ghaziabad, Guwahati, Mangalore and Ranchi
Business Activities:
Marketing, Sales and After-Sales Service of electronic products & software exports Products: Televisions, Hi-fi Audios, Home Theater systems and DVD players, Personal Audio (CD/Cassette Radio Players and Walkman), Audio Video Accessories, Car Audio and Visual Systems, Notebooks, Gaming Consoles, Camcorders and Digital Still Cameras, Digital Imaging Accessory (Batteries, Chargers, Microphone, Photo Printers), Mobile Phones, Recording Media and Energy Devices, Broadcast and Professional products.
Overview
One of the most recognized brand names in the world today, Sony Corporation, Japan, established its India operations in November 1994, focusing on the sales and marketing of Sony products in the country. In a span of 15 years Sony India has exemplified the quest for excellence in the world of digital lifestyle becoming the countrys foremost consumer electronics brand. With relentless commitment to quality, consistent dedication to customer satisfaction and unparalleled standards of service, Sony India is recognized as a benchmark for new age technology, superior quality, digital concepts and personalized service that has ensured loyal customers and nationwide acclaim in the industry. With brands names such as BRAVIA, BRAVIA Theatre, Cyber-
shot Handy cam, VAIO, Walkman, Xplod, Memory Stick PlayStation Sony has established it self as a value leader across its various product categories of Audio/Visual Entertainment products, Information and Communications Recording Media, Business and Professional products. In India, Sony has its footprint across all major towns and cities through a distribution network comprising of over 5000 dealers and distributors, 240 exclusive Sony outlets and 19 direct branch locations. Manned by customer friendly and informed sales persons, Sonys exclusive stores Sony Center are fast becoming the most visible face of the company in India. Sony India also has a strong service presence across the country with 20 company owned and 190 authorized service centers and 16 exclusive demonstration centers. A distinctive feature of Sonys service is its highly motivated and well-trained staff that provides the kind of attentive and sensitive service that is rare today.
Company Profile
In a burnt-out department store in Tokyo in 1946, just after World War II, Masaru Ibuka and Akio Morita , running a company then know as Tokyo Tsushin Kogyo (Tokyo Tele communications Engineering), attempted to produce a simple electric rice cooker. It did not work too well, but it kicked-off their desire to produce products for everyday life. In 1958, the company name was changed to Sony Corporation and since then, Sony has become one of the most recognized brand names in the history of the modern world. From the outset, Ibuka and Morita strove to develop exciting products to fulfill people dreams. From its first transistor radio in 1955, to the Trinitron, Walkman, Beta cam , Handy cam, the Compact
Disc and the floppy disc .Sony has continually made things better, smaller and more innovative than ever thought possible. Sony Corporation now spans a range of industries inc luding audio visual electronics, information technology, broadcast, telecommunications, entertainment, satellite broad casting and even insurance and finance. Throughout the world today, Sony stands for innovation, state of the art technology and superior quality. Leading into its next fifty years, Sonys vision is to offer people exciting new products and new lifestyles and remains committed to the challenge of creating and realizing these dreams
Sony in India
Sony is not new to India. Whether it was the television, or the walkman, a Sony always remained a must in the wish list of any Indian, returning home from abroad This love for the brand culminated in a new relationship when inspired by a reform friendly Indian business environment, Sony Corporation decided to set up a 100% subsidiary called Sony India on16th January 1995
COMPANY MISSION
Sony India focused towards making a difference in the lifestyles in the Indian market and open up new vistas of entertainment in the country. Sony India remains committed towards offering new age technology and digital concepts while working hand in hand with the Indian industry to produce and sell excellence. Their consistent commitment towards service has brought the company quite closer to the Indian customer.
Dynamic Edge LED Optic Contrast and CORNING's Gorilla Glass Panel Wi-Fi Integrated Monolithic Design Full HD 3D features a built-in 3D Transmitter X-Reality picture engine
16.2MP Exmore R CMOS Sensor Ultra Sleek & Compact Body (Only 12.2mm thin) 5x Optical Zoom & 10x Clear Image Zoom Superior Auto for High Quality Images 7 Picture Effect Modes AVCHD Full HD movie recording
VAIO Notebooks
VAIO E-Series
Intel CoreTM i5-2430 Processor 2.40 GHz with Turbo Boost up to 3.00 GHz Genuine Window 7Home Premium 64-bit 15.5 wide TFT color display (LED backlight)
Sony Tablet
AndroidTM 3.2 Easy to carry and easy to watch with 9.4 Trublack Touch Screen Display Swift and smooth touch experience with quick view and quick touch
HDR-PJ50E
Exmor R CMOS Sensor 29.8 mm wide angle Sony G Lens Built-in Projector 220GB HDD Optical Steady Shot with Active Mode 7.1M still picture
PlayStation3
Console dimensions (approx.) (W/H/D) Console mass (approx.) CPU GPU Sound Memory Wireless Controller (Bluetooth) BD/DVD/CD Driver (Read Only) PlayStation2 Compatibility 290 x 65 x 290 mm 3.2 kg Cell Broadband Engine RSX Dolby Digital Plus / Dolby Digital 5.1ch / DTS 5.1ch / LPCM 7.1ch / AAC / etc 256MB XDR Main RAM / 256MB GDDR3 VRAM YES
Headphones
Hi-Fi System
Voice Recorders
USB
Sony(CX320) Bravia Engine HD Ready Digital Noise Reduction 2 HDMI FM Radio Light Sensor USB
Samsung(D450) Dnle+ HD Ready Noise Reduction 1,2 HDMI 10w+10w JPEG Format
Full HD Digital Noise Reduction 2 HDMI FM Radio Light Sensor USB(Maximum Format)
Strength
Sony has build up a good brand image & customer loyalty by his service & quality. Same price in all over in India is also a great attraction for customer.
Service wise Sony is the best among all his competitors, shops ambience, environment and location is very convenient. To provide better service Sony conducts the Service camp & Training and keep its employee update
Weaknesses
High cost manufacturing base leading to lower margins . Legal proceedings likely to hamper corporate image.
Opportunities
Sony is leading brand in consumer durable market because of its better service and quality. It has a professionalism, good service attitude and knowledgeable staff and employee. Because of keen foresightedness of future demand and customer perception, Sony can beat all the competitors.
Threats
Unfavorable foreign exchange rates likely to impact margins Impact of the global economic slowdown
Marketing Strategies
Marketing strategies
Management of a firm needs strategy, to make sure that everything goes well in the company, through the use of strategic management everything done in the company is well
organized and no detail is being left out. The company needs strategic management to make sure that the company is doing well internally. The term strategic management originates from the Greek language, where the word means the art of a general. The person who makes strategies is the strategist who is the leader of an army (1991). Strategic management decisions have multifunctional and multi-business consequences, this kind of decision require broad consideration of the firm's external and internal environments, and it may affect the firms chance of prosperity. It is important to know what strategy is about, what can it do help the company prosper, what will happen if not used properly, what are the advantages and disadvantages of having a strategy. Strategy is a plan that assimilates the companys major target; policies and rules; decisions and sequences of action into organized whole. It can apply at all levels of organization and pertain to any of the functional areas of management (2000). Strategy is plagued by a stigma of unsystematic reasoning (1988).
It is incomplete search for strategic alternatives, and bounded rationality (1960) influenced this perception. Strategy is a combination of the companys objectives, policies and decisions to be done in unison or contingent upon each other. Marketing strategy thus refers to how a companys products or services its trade is presented to consumers in an effective manner as to gain loyal costumers. Strategy can be used in
different ways, one of which is through marketing. Using strategy in marketing makes it more convincing and effective. Strategy makes sure that nothing wrong happens in the marketing process in the company. Marketing strategy is a way to capture a niche in the consumer market. Businesses utilize it to gain following and exploit their maximum and/or optimal profit capabilities. Strategic marketing is the way company sells the product it has with less difficulty and more readiness to face competitors. Strategic marketing makes sure that the company uses all of its resources to counter its competitors. Strategic marketing planning is a procedure wherein the strategies used to sell product is carefully studied and analyzed so that the company can compete well and have advantage with rivals.
COMPETITORS
All firms have strategic windows and some of these windows open out on to markets that are shared with other firms. Where
windows share views over the same market, competition exists. It is important to understand how different firms view the same market since their perceived and actual windows of opportunity will not all be the same. The nature of competition and the factors which influence it are explored along with how firms identify competitors and how they use product positioning to obtain a competitive advantage. Attention is paid to how firms define their marketing strategies and analyze the competitive positions of rivals ( 2000).Consideration is given to the various sources of information available to firms that enable them to gauge competitors strengths and weaknesses. Success in the market place depends not only on an ability to identify customer wants and needs but also upon an ability to be able to satisfy those wants and needs better than competitors are able to do. This implies that organizations need to look for ways of achieving a differential advantage in the eyes of the customer. The differential advantage is often achieved through the product or service itself but sometimes it may be achieved through other elements of the marketing mix (2000).
An important thing the company should be wary of is to understand competitors. Gaining knowledge against competitors helps in creating measures to gain advantage against competitors. To know and have an in depth knowledge of the competitors the company can use different kinds of strategy such as porters generic strategy. Determining and having added knowledge about the competitors help in planning marketing activities through distinguishing and forecasting what
activities rivals may use and what strategy they might implement. Having added knowledge creates a way for the company to prepare for anything competitors might do and it helps in planning marketing activities that focus on having contingency measures against competitors. Sony although already a well known and successful company still uses strategic marketing planning that keeps the company alive in its industry. This strategic marketing planning keeps Sony alive against its competitors. Sony should still know and acquire all information they can with regards their competitors. The competitors activities, background and actions should be known by the company so that in planning marketing activities they know which things will be done by the competitors, what kind of actions the competitors will do in certain situations, and what future things the competitors might do. Sony should not be complacent with the things they know about the competitors. They should strive to find out things about the competitors that cannot be visibly noticed. Through the use of certain strategies like porters generic strategy the company might be able to know more about competitors and through such information they can plan strategies to conquer this competitors.
COMPETITORS PROFILE
Samsung
The Korean company Samsung has grown to become one the worlds leading electroniccompanies, specializing in digital appliances and med ia, semiconductors, memory and system integration. Today Samsungs innovative & top quality products & processes are world recognized. The digital age has brought revolutionary change and opportunity to global business, and Samsung has responded with advanced technology, competitive products, and constant innovation. Samsung, see every challenge as an opportunity and believe that it is perfectly positioned as one of the world's recognized leaders in the digital technology industry .Its commitment to being the world's best has won the No.1 global market share for 13 products, including semiconductors, TFT-LCDs, monitors and CDMA mobile phones. Looking forward, and making historic advances in research and development of its overall semiconductor line, including flash memory and non-memory, custom semi conductors, DRAM and SRAM, as well as producing best-in-class LCDs, mobile phones, digital appliances, and more.
LG
The history of LG Electronics has always been surrounded by the company's desire to create a happier, better life. LG Electronics was established in 1958 and has since led the way into the advanced digital era thanks to the technological expertise acquired by manufacturing many home appliances such as radios and TVs. LG Electronics has unveiled many new products, applied new technologies in the form of mobile devices and digital TVs in the 21st century and continues to reinforce its status as a global.
Home theatre
MOBILE PHONE
Milestone of Sony
2002200320032004200520062006-
Pcg-u1this was worlds smallest and lights pc running Microsoft Windows XP First Qualia product launched First Blue-ray Disc product launched First-generation liquid crystal display Launched BRAVIA series of wide screen LCD TVs feature live color creation HDR-UX1 world first HD cam recorder Play station 3
Position of Sony in
Electronic Market
Name of Company
Location Wise Service Attitude Pricing Wise Professionalism Quality Wise Product availability Information Support Knowledge of a Staff Staff Availability
SONY
Good Excellent Best Excellent Excellent Best Best Best Good
LG
Good Average Poor Good Good Best Average Average Good
Samsun g
Good Poor Good Average Excellent Best Poor Good Good
Data Interpretation
Size of Family
of Technology
Mode of Payment
CONCLUSION
CONCLUSION
According to research of 30 days in Sony India ltd, it reveals that Sony is real as well as a great leader in electronic and consumer durable. Sony is masters in Bravia LCD TV; Cyber shot camera, and vaio notebooks. Sony has credibility in these products. Sony as a brand is so popular in rich class people; they think it is nothing but a status symbol. Sony is facing tough competition with Samsung & LG because of reasonable price &quality. But when considered service attitude, one pricing policy, promotion policy, quality of a product, professional appearance & knowledge of staff regarding product feature sand function, Sony is far ahead from Samsung & LG. Sony plays a vital role in consumer durable market.
Bibliography
Bibliography
The information provided by the customer. Through the personal interaction with the help of questionnaire. Websites of consumer durable brands. Like Sony, Samsung, LG etc.
QUESTIONNAIRE
Q2: How many members in Family? a) 3 b) 3to5 c) 5to7 d) Above 7 Q3: Technical Awareness. a) Yes b) No Q4: Income of customer/month a) <15,000 b) 15,000-20,000 c) 20,000-30,000 d) 30,000-50,000 e) >50,000 Q5: Are you actual user of Sony Product? a) Yes b) No Q6: which Sony Product first time you use?
Q7: Mode of payment a) Cash b) Cheque c) Credit d) Master card Q8: What is making customer satisfied of Sony Product? a) Quality b) Customer Service c) Brand
Q9: Influence sales person or not? a) Yes b) No Q10: Are you compared Sony Brand with other Brand? a) Yes b) No
Q11: You are compared Sony Brand with.. a) LG b) Samsung c) Panasonic d) Onida e) Videocon f) Other