Name: Deepak Srivastava (2008 -2010)

Title: CONSUMER BEHAVIOUR AND SATISFACTION REGARDING VARIOUS BRANDS OF 21” COLOUR TELEVISION AT LUCKNOW

 

Executive Summary

Management ideas without any action based on them mean nothing. That is why practical experience is vital for any management studies. Theoretical studies in the class room are not sufficient to understand the functioning climate and the real problems coming in the way of management. So, practical exposures are indispensable to such courses. Thus, practical experience acts as a supplement to the classroom studies.

This report deals with “Consumer Behavior and Satisfaction

Regarding various brands of 21” flat colour television at Lucknow”

Customer satisfaction, a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy.

The individual consumer has a set of preferences and values whose determinations are outside the realm of economics. They are no doubt dependent upon culture, education, and individual tastes, among a plethora of other factors. The measure of these values in this model for a particular good is in terms of the real opportunity cost to the consumer who purchases and consumes the good.

In this era of cut throat competition, no company can even survive in the market place without knowing its and its products strengths and weaknesses. It has to fortify itself against threats from the environment and exploit its strengths or increase profits. And in order to do so, the company has to conduct regular surveys to know the customer’s opinions, needs, and preferences. This helps the company to manufacture the product like wise for each customer’s expectations.

 

Objectives:

Consumer satisfaction procedure has a great importance in every organization. The objectives are set up in the start of the study, because on the basis of these objectives we have to do the research work. There are two types of objectives .these are summarized as under 

Primary Objective:-

  • To know the impact of various external factors on buying behavior of consumer.
    • Quality
    • Price
    • Brand name
    • Scheme
    • Technology

Secondary Objectives:-

  • To study the satisfaction level with after sales service of company.
  • To make suggestions to company to improve the level of satisfaction among customers.
  • To know the price effect on the purchase of colour TV.
  • To find the cause behind choice of particular brand of 21"flat CTV and reasons to switch over by consumer.

 

Recommendations:

  • Manufacturers most try to improve upon after sales service which is measure calls for repurchase of brand.
  • Scheme like coupon free gift should be provided to the customers.
  • Quality should be improved and new technology should be adopted.
  • Price has significant influence in purchasing so it is require that company should try to cut out their cost like by reducing cost of advertisement.
  • Companies most take a step to improve the dealership network and service station and required to putting afford for motivation through demonstrations.

Limitations:

  • The primary limitation was the small size of customer so due to small samples out of big universe the results may not be completely correct.
  • Some of the respondent through the researcher as representative of the company, hence instead of answering my question they put than question to me and expected me to answer than.
  • Most of people were at their work they did not have time to give all replies.
  • Time period was very short.
  • The chances of personal prejudice and bias are possible at respondent level.
  • The people were quite hesitant in inquiring exact data regarding their income level.
  • The primary limitation was the limited area of the research so due to small area out of the country the results may not be completely correct.
  • The secondary limitation was the small size of customer so due to small samples out of big universe the results may not be completely correct
  • The chances of personal prejudice and bias are possible at respondent level. Also the people were quite hesitant in inquiring exact data regarding their income level.
  • Most of people were at their work they did not have time to give all replies. Also time period was very short.

 

Conclusion:

After analysis observed that the main points of consideration buying a CTV are price and the brand. It is generally the trade off between these two, which determines the purchase.

The entry of foreign companies and the revival by domestic player has provided the Indian consumer with plethora of opportunities to choose from in addition to creating clutter. Thus consumers are definitely not brand loyal while purchasing CTV.

 

More customers of Indian Market lie in the middle class and hence they prefer product of competitive price. Consumer generally prefers to buy a brand with high quality features at less price. The purchase decision of the consumer is affected by the brand and price of the product.

After sale service, price and quality play in important role in the purchasing decision of CTV in Yamuna Nagar and promotional schemes like coupon, free gift, exchange offer, guaranty, play important role in attracting the customer to purchase new colour Television.

 

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The above article was extracted from dissertations in Marketing, Finance, Human Resources, Strategy, Information Systems by the students from Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

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