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LG Mobile Mini Project
LG Mobile Mini Project
LG Mobile Mini Project
I INTRODUCTION
1.1
EXECUTIVE SUMMARY
Consumers whether of product or service are the private around which its fater evolves. In the past though the customers are regarded as the kings they were not treated as the kings and the general notion prevailed was that supply will creates its own demand? But today the things have completely changed. Today the customers are not only regarded but are getting the king hood consideration. 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 company.
1998 Develops world's first 60-inch plasma TV 1999 Establishes LG Philips LCD, a joint venture with Philips 2000 Launches world's first Internet refrigerator Exports synchronous IMT-2000 to Marconi Wireless of Italy Significant exports to Verizon Wireless in U.S. 2001 GSM mobile handset Exports to Russia, Italy, and Indonesia. Establishes market leadership in Australian CDMA market. 2002 Under LG Holding Company system, separates into LG Electronics and LG Corporation Full-scale export of GPRS color mobile phones to Europe Establishes CDMA handset production line and R&D center in China 2003 Enters Northern European and Middle East GSM handset market Achieves monthly export volume above 2.5million units (July) Top global CDMA producer
2004 EVSB, the next-generation DTV transmission technology, chosen to be the U.S./Canada Industry standard by the US ATSC Commercializes world's first 55" all-in-one LCD TV Commercializes world's first 71" plasma TV Develops world's first Satellite- and Terrestrial-DMB handsets 2005 Becomes fourth-largest supplier of the mobile handsets market world wide Develops world's first 3G UMTS DMB handset, 3G-based DVB-Hand Media FLO DMB Phone with time - shift function and DMB notebook computer Establishes LG-Nortel, a network solution joint venture with Nortel 2006 LG Chocolate, the first model in LG's Black Label series of premium handsets, sells 7.5 million units world wide 2007 Launches the industrys first dual-format, high- defition disc player and drive Launches 120Hz Fukk HD LCD TV Demonstrated the world first MIMO 4G-enabled technologies with 3G LTE Won contract for GSMAs 3G compaign. 2008
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Introduces new global brand identity: stylish design and smart technology, in products that fit our consumers lives.
PRIMARY OBJECTIVES:
To Find out the customer satisfaction level of LG mobile phone and to study the Market Potential of LG MOBILE phones
SECONDARY OBJECTIVES :
A n a l y z i n g the satisfaction level of customer towards LG mobile Phones Analyzing the problem faced by LG mobile phones customers. Analyzing which LG mobile products is more used by customers. Collecting the data bases of different age group of customers interested in different types of toppings offer. To make suggestions in the light of the findings of the study. To find out consumer preferences. Creating awareness to LG mobile phones customers about the advantages in using LG mobile
2.ORGANISATION PROFILE
2.1 Industry profile
Type Industry Founded Headquarters Area served Key people Products Employees Subsidiaries Website Public (KRX: 003550) Conglomerate 1947 in Busan, South Korea Seoul, South Korea Worldwide Koo Bon-Moo, (Chairman & CEO) Yu Sig Kang, (Vice Chairman & Co-CEO Chemicals Tele communications 227,000 (2010) LG Electronics LG Display LG Telecom LG Chem LG.com
The LG Corp is South Korea's third largest conglomerate that produces electronics, chemicals, and tele communications products and operates subsidiaries like LG Electronics, LG Display, LG Telecom and LG Chem in over 80 countries. LG Corp founder Koo In-Hwoi established Lak-Hui Chemical Industrial Corp in 1947. In 1952,Lak-Hui (pronounced "Lucky", currently LG Chem.) became the first Korean company to enter the plastics industry. As the company expanded its plastics business, it established Gold star Co.,Ltd., (currently LG Electronics Inc.) in 1958. In 1959, Gold star produced South Korea's first radio. Many consumer electronics were sold under the brand name Gold Star, while some other household products (not available outside South Korea) were sold under the brand name of Lucky. The Lucky brand was famous for its line of hygiene products such as soaps and Hi-Ti laundry detergents, but most associated with its Lucky and Period tooth paste. In 1995, to better compete in the Western market, the company was renamed "LG",
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the abbreviation of "Lucky Gold star". More recently, the company associates its tagline "Life'sgood", with the letters LG. Since 2009, LG also owns the domain name LG.com.
COMPANIES
Gold star logo, prominently used before the introduction of the LG logo. Since 2001, LG has two joint ventures with Royal Philips Electronics: LG Philips Display and LG.Philips LCD, but Philips sold off its shares in late 2008.Also LG has entered into a joint venture with Nortel Networks and has created LG-Nortel Co. Ltd. LG has a joint venture with Hitachi, Hitachi-LG Data Storage, which manufactures optical data storage products like DVD-ROM drives, CD writers, etc. LG has owned the LG Twins baseball club since 1989. LG acquired American television manufacturing company Zenith in 1999.
Associated companies:
GS Group LS Group LIG Group
Group families
LG Electronics Electronics industries LG Display
DACOM Crossing DACOM Multimedia Internet CS ONE Partner LG CNS LG N-Sys V-ENS BIZTECH & EKTIMO Ucess Partners SERVEONE LG International TWIN WINE Geovine Pixdiz Korea Commercial Vehicle LG Solar Erergy G2R HS Ad Wise bell TAMS Media Alche media W Brand Connection
Main Products:
LG Viewty
LG Viewty is a professional level 5.0 - megapixel camera phone that perfectly demonstrates LG's ability to create phones with high-end technology without compromising on style. LG Viewty includes features found on many high-end stand alone cameras and other features found now here else. LG developed this handset with customers in mind and put their viewing enjoyment at the center of the Viewty's design. The phone' s high tech features are accessible through a 3-inch wide full touch screen,which provides users with an optimized viewing environment.
Executives:
Executive Vice President Skott Ahn Mobile Communications R&D Area Learn about the technologies involved in LG mobile communications that are leading us into the future. View main mobile communications products Mobile Phone
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Digital appliance:
LG Electronics Digital Appliance Company is creating trend-setting products, suchas steam washing machines and refrigerators adorned with flower patterns and crystals "made with CRISTALLIZED - Swarovski elements", which balance the most advanced technology with beautiful style.
LG Digital Appliance Company is providing customers more options in design and style and helping make home appliances a crucial part of home decor. LG is also continuing technology innovation to make your life easier and more enjoyable for customers. LG also takes environmental issues such as global warming and the depletion of nonrenewable natural resources very seriously. That's why LG has been working hard to design products that minimize power consumption. In addition, LG has developed hybrid energy solutions to actively respond to energy-efficiency and eco-friendly needs in the market place and also help create future business opportunities.
Executives
President Young-Ha Lee Digital Appliance R&D Area Learn about the technologies involved in LG digital appliances that aim to create a more pleasant life on Earth. Digital Appliance R&D Area
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Learn about the technologies involved in LG digital appliances that aim to create a more pleasant life on Earth
Executives
Executive Vice President B.B. Hwang Digital Media R&D Area Learn about the technologies involved in LG digital media that help make data more user-friendly.
COMPANY:
3.REVIEW OF LITERATURE
3.1 LITERATURE REVIEW
Customers satisfaction When we talk about customer satisfaction, we talk about creativity. Creativity allows us to handle or diffuse problems at hand or later on in the process of conducting the everyday business. We talk about how, or rather what, does the
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organization have to do to gain not only the sale but also the loyalty of the customer. We want to know the payoff of the trans-action both in the short and long term. We want to know what our customers want.We want to know if our customers are satisfied. Satisfaction, of course, means that what we delivered to a customer met the customers approval. We want to know if customers are delighted and willing to comeback, and so on. Fleiss and Feldman present examples of that delightfulness in their writings. Fleiss has written about Ben and Jerrys ice cream and Feldman has discussed excellence in a cab ride. As important as delightfulness is, some of us minimize it,or even totally dis regard it. At this point, we fail. Some of the issues that will guarantee failure in sales, satisfaction, and loyalty are: Employees must adhere to a rigid chain of command. Employees are closely supervised. Conflict in what ever form is not allowed. Rewards are based on carrot and stick .
Level 1.
Expectations are very simple and take the form of assumptions, must have, or take it for granted For example, I expect the airline to be able to take off, fly to my destination, and land safely. I expect to get the correct blood for my blood transfusion. And I expect the bank to deposit my money to my account and to keep a correct tally for me.
Level2.
Expectations are a step higher than that of level 1 and they require some form of satisfaction through meeting the requirements and / or specifications. For example, I expect to be treated courteously by all airline personnel. I went to the hospital expecting to have my hernia repaired, to be in some pain after it was done, to be out on the same day, and to receive a correct bill. And I went to the bank expecting the bank teller to be friendly, informative, and helpful with my transactions.
Level 3.
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Expectations are much higher than for levels 1 and 2.Level 3 requires some kind of delightfulness or a service that is so good that it attracts me to it. For example : an airline gives passengers traveling coach class the same superior food service that other airlines provide only for first-class passengers. In fact, I once took a flight where the flight attendants actually baked cookies for us right there on the plane. When I went to the hospital, I expected staff to treat me with respect and they carefully explained things to me. But I was surprised when they called me at home the next day to find out how I was doing. And at my house closing, the bank officer, representing the bank holding my mortgage, not only treated me with respect and answered all my questions about my new mortgage, but just before we shook hands to close the deal, he gave me a house warming gift.
Brand image
Hide links within definitions Show links within definitions. Impression in the consumers' mind of a brand's total personality (real and imaginary qualities and short comings). Brand image is developed over time through advertising campaigns with a consistent theme, and is authenticated through the consumers' direct experience. See also corporate image.
The values each respondent places on price, performance attributes, and brand equity define their value equation for a product or service category. We can derive these values at the respondent level using modified trade-off exercises. A key advantage of the Brand Value Model is that it allows the calculation of utilities and importances at the individual consumer level. This acknowledges the highly individual nature of the evaluation of products and services in many categories. Furthermore, it permits an exploration of value structures across existing consumer segments or the development of new segments based on the components of the value equation. we believe the total value of a brand in a particular product/service category is composed of three parts. One part is due to the physical and readily identifiable (and replicable) features of the brand that delivers specific, tangible benefits to the purchaser, thus impacting purchase choice. We call these the tangible product features. The second part is due to some perceived intrinsic value associated with the brand name due to such things as the image transferred to the purchaser, trust, longevity in the marketplace, social responsibility, consistent performance, and so forth (i.e. the intangibles), and impacting purchase choice. We refer to this as the brand's equity. The third component is the price/cost of the product. Thus, the total value (or utility) of a product or service is a function of 1.) its physical, tangible, deliverable features, 2.) Its brand equity, and 3.) its price. In addition, we believe that a brand's value is directly related to customer loyalty.That is, if a particular brand maintains a significantly higher perception of value to a consumer than any other brand in the category, that consumer will consistently purchase that brand and consistently recommend that brand to others. Conversely,as brands in a category become less differentiated in terms of both tangible and intrinsic features, price becomes the major differentiator of value, and thus, there is little loyalty.
We observe that people tend to trade off price against the combined bundle of tangible product features and brand equity in order to optimize total utility or total value. We also note that the intrinsic part of a brand's value, brand equity, may be positive or negative, meaning that a brand name can be used to increase overall utility of a choice, or may detract from the overall utility of a choice. Said differently, positive brand equity allows a marketer to charge a premium in the market place over the value of the bundle of tangible features alone, or over the value of an un branded product/service. And, some branded names in a particular category could have such a negative value among some purchasers such that the brand's equity could be below that of an unbranded, or base line, product/service. The estimate of brand equity is relative to the other brands in the measured competitive set. Therefore, to obtain an estimate of absolute brand equity we often recommend that the study include either an unbranded product, a store brand, or a dummy brand name, whichever is most appropriate for the category. This provides the base price point for estimating brand equity in terms of its absolute dollar value. The advantages of this modeling approach are:
1.
2. 3.
It is relatively fast and easy to execute using proven research methods. It can be executed at any time in the business cycle. That is, it is not dependent on internal cyclical accounting changes. It takes into account all major relevant brands in a defined product/service category. It measures brand equity relative to other current and potential brands in the category, including unbranded items when they exist in the category. It recognizes that value of any one brand's equity can be defeated in the market place by competitor pricing strategies, at least in the short run.
4.
5.
6.
MEANINGS:
It is a process by which a producer by means of product or services satisfies the wants and needs of the customers by means of the attributes of their product and also by the after sale services provided by them.
NEEDS:
1. Customer is the king of the market and no company and brand could survive without satisfying the customers. 2. Customer satisfactions will automatically lead to customer loyality or brand locality. 3. Customer satisfaction will lead to increase the number of customer. 4.Satisfying of the customers wants will avoid legal fusil. 5.Customer satisfaction will increase the prestige of the company. 6.It facilitates the sustainability of demand and the commodity. 7.It facilitates expansion and diversification of the product. 8.It becomes easy to launch and create demand when a customer satisfying brand introduces its new variant in to the market. Objectives 1. To creates customers 2. For profit maximization
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3. To protect the interest of the customer. 4. For increasing the standard of living of the people.
4. RESEARCH METHODOLOGY
Research methodology is considered as the nerve of the project. Without a proper well-organized research plan, it is impossible to complete the project and reach to any conclusion. The project was based on the survey plan. The main objectives of survey was to collect appropriate data, which as a base for drawing conclusion and getting result. Therefore, research methodology is the way to systematically solve the research problem. Research methodology not only talks of the methods but also logic behind the methods used in the context of a research study and it explains why a particular method has been used in the preference of the other methods.
loyalty,and focus market changes. A research design specifies the methods and procedures for conducting a particular study. According to Kerlinger,Research design is a plan, conceptual structure, and strategy of investigation conceived as to obtain answers to research questions and to control variance.
Stratified Sampling:
If the population from which a sample is to be drawn does not constitute a homogenous group, then stratified sampling technique is applied so as to obtain a representative sample. In this technique, the population is stratified into number of non-overlapping sub populations or strata and sample items are selected from each stratum. If the items selected from each stratum is based on simple random sampling, the entire procedure, first stratification and then simple random sampling is known as stratified sampling. The stratified sampling results in a more reliable and detailed information. The researcher uses simple random sampling for selection of items from each stratum.
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PRIMARY DATA:
For primary data collection, we have to plan the following four important aspects. Sampling Research Instruments Secondary data-The Companys profile, journals and various literature studies are important sources of secondary data, Data analysis and interpretation a) Questionnaires b) Pie chart and Bar chart
QUESTIONNAIRES:
This is the most popular tool for the data collection.A questionnaire contains question that the researcher wishes to ask his respondents which is always guided by the objective of the survey.
PIECHART:
This is very useful diagram to represent data,which are divided into a number of categories.This diagram consists of a circle of dividend into a number of sectors, which are proportional to the values they present. The total value is represented by the full create. The diagram bar chart can make comparision among the various components or between a part and a whole of data.
BAR CHART:
This is another way of representing data graphically. As the name implies,it consists of a number of whispered bar,which originate from a common base line and are equal widths. The lengths of the bards are proportional to the value they represent.
PREPARATION OF REPORT:
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The Report was based on the analysis and presented with the findings and suggesions.The sample of the questionnaires is attached with the report itelf.
INTERPRETATION
In the above table 18% of people are belongs to 15-25, 76% belongs to 2630,6%belongs to 36-50.
INTERPRETATION
In the above table 50% of respondance is male and 50% of respondance is female.
INTERPRETATION
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In the above table show the qualification of respondance sslc are 20%, graduate 40%, p.g 20% and others 20%.
INTERPRETATION
In the above table 40% of people from self employed sector. 34% from private sector, nobody from public sector, no body from professional side, and 26% are student.
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INTERPRETATION
In the above table income below 5000 are 24%, between 5000-10000 are 76% and between 10000-20000, above 20000 are 0%.
INTERPRETATION
In the above table 100% of the respondance have mobile phones.
INTERPRETATION
In the above table 8% of respondance opinion is good, 80% of opinion is very good and 12% of opinion is better.
INTERPRETATION:
In the above table 54% of people like battery life feature of the mobile,10% like the Bluetooth feature of the phone,16% like the infrared and 20% like the features of camera.
INTERPRETATION
In the above table 48% of the respondance prefer very good, 32% prefer good, 20% prefer sharp.
INTERPRETATION
In the above table 42% opinion is good, 30% opinion is better and 28% opinion is attractive
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INTERPRETATION
In the above table 32% of respondance says affordable, 40% says low, 28% says high.
INTERPRETATION:
In the above table 44% opinion is stylish, 36% of persons opinion is better, 20% of person responds cant say
TABLE-14 Do you think the company has to modify the current models of the phones?
INTERPRETATION
In the above table 40% of respondance suggest to modify companies current models of phones,36% suggest no, 24% responds cant say
INTERPRETATION
In the above table 48% opinion is good, 38% opinion is better, 14% opinion is bad.
6 .FINDINGS
1. Majority of the people of the sample size prefer LG mobile phones than others. 2. People of family ,working place and residential area prefer LG mobile phones 3. Most of the respondance like the features provided in the mobile phones 4.LG mobile phones are far MORE superior than other mobile phones in the market.
7.SUGGESTIONS
Most of the respondents were satisfied with the price, company image and Battery backup of LG. So it is suggested that the same standard is to the maintained. Factors like after service, audio output, software compatibility and special features are admired the respondents, hence this features has to be continued. Regarding built in memory and brand image, a few of the respondents expressed their dissatisfaction. So this factor has to be improved with a view to attract more customers and to retain the existing customers. To attract customers situated in all areas, advertisement can be given through all media to attract customers in rural areas. The sales promotion offers are not impressive. Hence, the company should work towards providing more sales promotion offers to attract the customers . The customers are not satisfied with the price level, so they can better consider the price level.
Improve the ads of LG mobiles. Give some more stress to speaker quality
8.BIBLIOGRAPHY
9.CONCLUSION
The project which was conducted for knowing the customer satisfaction of LG mobile phones has brought forward many new facts to the front. It was conducted as a part of the procedure which generally followed by the companies to keep in track with the changing trends, taste and preferences of the customers. In the first stage questionnaire were prepared and opinion were taken from the public on the basis of random sampling as primary data. Then tables were created to drawn conclusion .This was followed by reviewing of literature followed by data analysis and interpretation. The following findings were derived. Majority of people of both the sample and their contacts prefer LG mobile phones than others. We can draw a conclusion that this research has been fruitfully beneficial. And more researches like this has to be conducted in order to make sure quality standard and analyze the scope of improvement.