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    A Study On Consumer Perception Towards LG Products

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    Ayushi Dwivedi
    This document summarizes a study on consumer perception of LG products in India. It includes an introduction to LG's product portfolio and consumer-centered quality management systems. The methodology section describes a survey of 50 LG customers to understand factors influencing purchase decisions and perceptions of LG versus competitors. Key findings indicate availability and performance are most important, while price matters least. Recommendations include improving product demonstrations and dealer training.

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    A Study On Consumer Perception Towards LG Products

    Uploaded by

    Ayushi Dwivedi
    141 views15 pages
    This document summarizes a study on consumer perception of LG products in India. It includes an introduction to LG's product portfolio and consumer-centered quality management systems. The methodology section describes a survey of 50 LG customers to understand factors influencing purchase decisions and perceptions of LG versus competitors. Key findings indicate availability and performance are most important, while price matters least. Recommendations include improving product demonstrations and dealer training.

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    This document summarizes a study on consumer perception of LG products in India. It includes an introduction to LG's product portfolio and consumer-centered quality management systems. The methodology section describes a survey of 50 LG customers to understand factors influencing purchase decisions and perceptions of LG versus competitors. Key findings indicate availability and performance are most important, while price matters least. Recommendations include improving product demonstrations and dealer training.

    Copyright:

    © All Rights Reserved
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    Download as pptx, pdf, or txt
    141 views15 pages

    A Study On Consumer Perception Towards LG Products

    Uploaded by

    Ayushi Dwivedi
    This document summarizes a study on consumer perception of LG products in India. It includes an introduction to LG's product portfolio and consumer-centered quality management systems. The methodology section describes a survey of 50 LG customers to understand factors influencing purchase decisions and perceptions of LG versus competitors. Key findings indicate availability and performance are most important, while price matters least. Recommendations include improving product demonstrations and dealer training.

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    A STUDY ON CONSUMER PERCEPTION

    TOWARDS LG PRODUCTS

    K
    INTRODUCTION
     LG TV, Computers, Appliances, Air Conditioners and Mobile Phones Life’s
    Good with LG and its range of products.

     Begin by transforming your TV viewing experience and enjoy the thrill of


    premium TV/Audio/Video, with LG India’s superior TV viewing technology.

     Your household chores will never seem a burden with LG’s premium home
    appliances.

     Choose from microwave ovens, Side by Side Refrigerators, Dishwashers, top


    and front load washing machines including the revolutionary Twin Wash
    machines, air conditioners, air dehumidifiers, LED lighting and host of other
    efficient functional devices.
     LG Electronics has been operating 'Consumer Centered Management' system in
    Korea since 2007.

     CCM is the certification scheme by Korea Consumer Agency and Korea Fair
    Commission, evaluating whether corporate's activities are structured for
    consumer and has been implementing corrective actions continuously.

     In addition, we have reinforced organizations related to Six Sigma to establish


    its strategy and future direction and quality management system based on Six
    Sigma all through the value chain including R&D, production and product use
    stage.

     LG created a product quality and safety evaluation system that performs basic
    quality and safety evaluation for products at every production stage.
    COMPANY PROFILE

     LG Electronics India Pvt. Ltd. was established in


    January 1997 after getting a clearance from the
    Foreign Investment Promotion Board (FIPB). It is a
    wholly owned subsidiary of LG Electronics, South Korea
    which is headquartered in Yeouido-dong, Seoul.

     The company’s business is divided into five categories


    which include Home Entertainment, Home Appliances,
    Air Conditioning, Mobile Communications and Vehicle
    Components.
    LITERATURE REVIEW
     Janaki, P and Shanthi, P2 (2013) in their study entitled,
    “Marketing Stimuli in Purchase of Home Appliances From Customer
    Perspectives”, explains that marketing strategy is the game plan which the firms
    must adhere to, in order to outdo the competitor or the plans to achieve the
    desired objective.

     Shahram Jenabi, Seyed Yahya Seyed Danesh and Minoo Yousefi3 (2013) made
    a study titled,
    “Examining the effect of Brand dimension (trademark) on home appliances
    consumers’ behavior Case study: LG brand in Rasht city”, tells that one of the
    most important and valuable assets of a company is its trademark. The more
    valuable is a trademark for consumers more profit the company achieves.
     Senthil Kumar, M.J and Sadeesh Kumar, K and Nagarajan, N.R4 (2013) in their
    study entitled,
    “A Study on Consumer’s Attitudes towards Washing Machine”, which explains
    that in the modern technological world many innovations and new apparatus are
    invented by the man for reducing the work burden of the layman. Especially a lot
    of home appliances are introduced to save the valuable time of the working
    women.

     Rajarajan, M and Priyanga, T5 (2013) have written a paper on,


    “Consumer Behaviour Towards Selected Household Appliances in
    Ramanathapuram District”, the study revealed that lifestyle characteristics have
    a great impact on the purchase behavior of the clusters. In a consumption
    environment, a person chooses a product or a brand, which seems to possess a
    maximum possibility of the definition or elaboration of his lifestyle identity.
    RESEARCH METHODOLOGY

     I conducted the research study using primary data.

     The research is descriptive in nature.

     Primary data has been collected for the purpose of conducting the research
    study through the use of a structured questionnaire.
    OBJECTIVES OF RESEARCH
    METHODOLOGY
     To identify the most important attribute of a product as per the customer from a
    set of attributes like brand, price, quality, discounts, availability, performance
    and customer service.

     To study the influence of promotion strategies on the consumption of the brand.

     To analyze where LG products stand vis-à-vis the competitors’ products.

     To reveal the most important store attribute which appeals to the customer.
    ANALYSIS

     The analysis is done on the basis of the responses gathered through the help
    of a structured questionnaire.

     Different statistical tools like bar charts, column charts, pie charts, line
    charts, histogram have been used to represent the data.

     Interpretation is done by analyzing the results depicted by these charts.


    FINDINGS

     Through the survey we find that the availability of the consumer durable is
    influencing the buying decision most with the highest mean of 4.37 which is
    followed by the performance attribute of the consumer durable product with a
    mean of 4.23. Also, discounts are preferred by the consumers.

     Price of the consumer durable affects the buying decision the least with a mean
    value of 3.71.

     The survey shows that the reason of buying LG products is its promotional offers
    and brand ambassadors.

     Through massive advertisement consumers are influenced to purchase brand LG.


    SUGGESTIONS / RECOMMENDATIONS

     More detailed product demonstrations are to be provided.

     For all its brand shops, LG should focus on training and development of the salesmen
    which will further enhance its customer service quality.

     The training in shop demonstration should be given at frequent time interval and
    feedback should be considered positively.

     The company should look into the matter of person hiring for in-shop demonstration. A
    big LG showroom should have at least 2 such kind of persons.

     LG should try new dealers who have the potential so that they can target more
    markets.
    CONCLUSION & LIMITATIONS OF THE
    STUDY
     LG focusses more on the younger age group for increasing their customer base as
    the today’s generation is more tech savvy and understand the products and
    features in more appropriate and efficient manner.

     Although LG provides warranty on each and every product, the consumers prefer
    to buy from the brand shops so that they can be more ensured about the quality of
    the product and can approach to someone in case of any defect they may face in
    future.

     I also came to the conclusion that there is a close competition between mobile
    phones and televisions, air conditioners too (although air conditioners are seasonal
    in nature), I can observe that LG has diversified a lot in those categories owing to
    great demand for these products.
     The research study is subjected to the following limitations: -

     Time was the major limiting factor as the time allotted to conduct survey was not
    enough.

     Some respondents were irresponsive.

     Due to the time constraints all the customers were not covered.

     The sample was restricted to 50 customers, which may restrict the scope and
    completion of study.

     Owing to their busy schedule, some customers were unable to answer the
    complete questionnaire.
    REFERENCES/ BIBLIOGRAPHY
     Amrish Choudhry and others, “Marketing Communications Project Report”, Mudra Institute
    of Communications and Advertising, February2002
     Aradhna Krishna, Imran S. Curriuun and Robert W. Shoemaker, “Consumer Perceptions of
    Promotional Activity,” Journal of Marketing, Vol.55 (April 1991), pp.4-16
     Bhatnagar, A. and A. Ghose. 2004. “Online Information Search Termination Patterns Across
    Product Categories and Consumer Demographics,” Journal of Retailing (80:3), pp. 221–228
     Fishbein, M., and Ajzen, I. (1975). Belief, Attitude, Intention, and Behavior: An Introduction
    to Theory and Research. Reading. MA: Addison-Wesley.
     Kirmani, A. 1990. “The Effect of Perceived Advertising Costs on Brand Perceptions,'' Journal
    of Consumer Research 17, 160-171
     Kotler, P., and Armstrong, G. (2005). Principles of Marketing (11 ed.). Prentice Hall.
     Nelson, P. (1970). “Information and Consumer Behavior.” Journal of Political Economy,
    78(2), 311-329
     Roberts, K. 2004. Lovemarks: The Future beyond Brands. New York: PowerHouse Books.
     Sanders, W. G. and Boivie, S. 2004. “Sorting Things Out: Valuation of New Firms in Uncertain
    Markets,” Strategic Management J. 25(2), pp. 167–186.
     Strang Roger, “Sales Promotion fast growth faculty management,” Harvard Business Review,
    1976.

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