SIP report submitted in partial fulfillment of the requirements for the PGDM Programme.
By : Singh Mohit Arvind
Roll No : 2011194
1) Mr. Amit Kumar
(Business Head, IFB Industries Ltd.)
2) Prof. R. Kamble
(Faculty, IMT Nagpur)
Institute of Management Technology, Nagpur.
I would like to express my gratitude towards all those who gave me an opportunity to undertake and complete this summer project. I would like to give my special thanks to my mentors, Mr. Amit Kumar (Business Head-IFB Industries Ltd, Delhi) who gave me the opportunity to work for IFB Industries Ltd. as a summer intern and for giving me a lot of encouragement through his words of wisdom and sharing of rich experiences. I am deeply indebted to my supervisor Prof. R. Kamble (Institute of Management Technology, Nagpur) whose consistent guidance, suggestions and encouragement helped me in completing this project.
This project has provided me with valuable insights into the practical aspects of the products of the brand IFB Home Appliances.
I would like to express my gratitude towards Mr. Saurabh (Senior Sales Executive-IFB, Gurgaon) for his valuable inputs and guidance.
I hope that IFB Industries Ltd. and IMT Nagpur is benefited from the inferences, conclusions and recommendations made by me in this report.
Singh Mohit Arvind
TABLE OF CONTENTS
Serial No.| Particulars| Page no.|
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.| Executive SummaryIntroductionIndian Market ScenarioObjective of StudyBrief Description of concept/model introducedDescription About CompanyMethodology FollowedTabulation, Findings and InterpretationsConclusionRecommendationLimitation to StudyScope for Future ImprovementsBibliographyAppendicesCertificate of Completion| 4 5-13 14-19 20 21-23 24-29 30-32 32-40 41-43 44 45 46 47 48-56 57|
This project deals with the understanding of the different approaches of consumers while making a buying decision of a Washing Machine who fall into the same income group(approximately). Basically, it deals with the aspect that– “Why Consumers belonging to similar income groups differ in their preferences for washing machines?” This project was divided into two parts –
1) Survey of the specified region for gathering relevant data 2) Analysis of the gathered data
The Survey was conducted in the Gurgaon region because it is emerging as a market with huge potential in Delhi – NCR region. Survey was done mainly by using following methods – 1) Filling a Questionnaire
2) Activities carried out at Residential Complex
A Questionnaire was designed to cover the most important aspects that can affect the buying decision of a consumer and was used to collect data mainly from Residential Colonies and Shopping Malls.
The Data collected was then analyzed using various methods – 1) SPSS Software
2) Perception Mapping
Data was collected from 2000 consumers and tabulation was done on that data to derive results and draw inferences. The analysis shows the high correlation between the consumer preferences and the factors viz. price, appearance, reliability, add on features etc. It also shows the result depicting the importance of 4 A’s of Marketing.
ABOUT CONSUMER BEHAVIOR
Consumer behaviour is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual...