22-LG+MARKETING+PROJECT - A PROJECT REPORT ON MARKET...

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Unformatted text preview: A PROJECT REPORT ON MARKET ANALYSIS OF LG CONSUMER DURABLES & DEALER DEVELOPMENT MARKETED BY: POOJA SHARMA (27) RAJESH RANJAN (30) ROHIT SONKAR (32) SANJAY VERMA (36) SONI (40) MASTERS OF INTERNATIONAL BUSINESS 1st SEMESTER Acknowledgement It is indeed of great moment to pleasure to express our senses of profound gratitude & indebtedness to all the people who have been instrumental in making it a rich experience. We found it to be a challenging project that gave us a real practical exposure to the corporate world and it is almost impossible to do the same without the guidance of peoples around us. It gives us immense pleasure to acknowledge LG ELECTRONICS INDIA Ltd . dealers, who have been nice enough to give us a chance to do our project and providing us wonderful support throughout our project . Executive summary Indian Consumer durables market used to be dominated by few domestic players like Godrej Voltas Allwyn and Kelvinator. But post liberalization many foreign companies have entered into Indian market dethroning the Indian players and dominating Indian market the major categories being CTV, REFRIGRATOR, AIR CONDTIONERS and WASHING MACHINES. India being the second largest growing economy with huge consumer class has resulted in consumer durables as the fastest growing industries in India. LG, SAMSUNG the two Korean companies have been maintaining the lead in the market with LG being leader in almost all the categories. The rural market is growing faster than the urban market, although the penetration level is much lower .The CTV segment is expected to the largest contributing segment to the overall growth of the industry. The rising income levels double-income families and consumer awareness are the main growth drivers of the industries. Consumer durables major LG Electronics India Pvt Ltd (LGEIL) will invest nearly Rs 500 crore in India this year in research and development, brand-building and other marketing initiatives. The company, having a turnover of Rs 9,500 crore and market share of 26 percent, is investing Rs 360 crore on brand-building and other marketing initiatives and around Rs 140 crore on research and development, besides launching new platforms in information technology and related areas, LGs innovative 211 campaign to provide quality after-sales service, will also be expanded from the existing 22 to 40 cities by next month, the campaign, for which IT infrastructure has been set up, includes the companys response to customer complaint within two...
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22-LG+MARKETING+PROJECT - A PROJECT REPORT ON MARKET...

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