ACKNOWLEDGMENT

Completing a task is never one man effort. It is often the result of invaluable contribution
of number of individuals in a direct or indirect manner that helps in sharing a making of
success.

I express my gratitude towards the management of M/s. Refair Engineering Works for
giving me the opportunity to undergo my project report in a Multinational concern of a
great reports and allowing me to gain valuable experience with subsequent exposure to
the modern buprosiness world.

I am extremely grateful to my project guide Prof. Yashwant Kumar for completing my

project report successfully. His constant support as well as the guidance, which he gave to
me, helped me tide over the difficulties.

I further extend my thanks to all the employees for their appreciation & cooperation
given by them to me in gathering information for the survey.

I would like to extend my heartiest thanks to my guide Prof. Yashwant Kumar, my friends
and for providing me light moments, patience and affection in times of distress and
hopelessness.

1
 PREFACE

This report aims at analyzing and reporting on the Working Capital Management at M/s.
Refair Engineering Works. This report is not aiming at the overall customer satisfaction,
marketing mix or the marketing strategy of VOLTAS AC, but is an attempt to analyze the
Customer satisfaction and marketing mix of VOLTAS AC.

The report also enlists various recommendations based on Data Analysis, SWOT
Analysis etc. This analysis has been done on the basis of the information gathered from
the company website and other online resources and books and articles.

2
 TABLE OF CONTENTS

Page No.

1. Introduction 5 to 26
1.1 Overview of the Industry
1.2 Company Profile
1.3 Problems of the organization
1.4 Competitors Information
1.5 SWOT Analysis

2. Research Objective 27 to 28

2.1 Significance of the study

2.2 Managerial usefulness of the study
2.3 Objectives of the study

3. Research Methodology 29 to 31

4. Conceptual Discussion 32 to 46

5. Data Analysis and Interpretation 47 to 58

6. Findings and Recommendations 59 to 62

 Annexure 63 to 65

 Bibliography 66 to 67

3
 EXECUTIVE SUMMARY

The research work is all about to have a broad look over the consumer attitudes and perception
toward buying consumer goods. The project also deals with VOLTAS AC India and buyer’s
perception toward then in Delhi region as compared to their competitors.

Before the liberalization of the Indian economy, only a few companies were present like:-

• Napoleon

• LG

• Philips

The market is expected to grow at 10-12% in 2014-2015. It is growing at a very fast pace because
of the rise in living standards, easy access to consumer finance and wide range of choice, as many
international players are entering in the market day to day.

The next phase consists of the research is object oriented and has a realistic view of finding the
opinions of consumers toward their purchase decision.

From the study, we came to know about the consumer’s opinion about the AC’s of Voltas Ltd.

In addition:-

 The study also helps to know the trend of buyers toward purchasing a new AC’s.
 The data was enough to fulfil the objective of the study and to carry out the project
efficiently.
 The study helps to see how the consumer reacts on a particular brand name how he
perceives it.
 The study will help to know the factors which effect the purchase decision of a buyer.

4
 CHAPTER – 1

INTRODUCTION

5
 INDUSTRY OVERVIEW
Primary Markets for Air Conditioners Air Conditioning Market comprises of Central and
Specialty Air Conditioning which comprises 50% of the total market and room air conditioning
the other 50%. Room air conditioning consists of both commercial and residential air
conditioning. Air Conditioners can be classified into Window ACs and Split ACs, covered under
room air conditioners. However, as the market share for the Window ACs is on a declining
trend1, so, these products have been considered as substitutes of each other and therefore,
considered as a single product market. There are several brands in the Air Conditioning primary
markets. It majorly includes LG, Samsung, Voltas, Hitachi, Panasonic, Daikin, Godrej, Bluestar
and several others. These companies have sold around 3.2 million units in the year 2011-12
having the market value of Rs 17600 crores app2. Here the market share of Assembled Air
Conditioners has not been considered. The market share among the major players is shown as
follows

The market structure seems to be competitive due to large number of players involved. Also, the
market share has been distributed evenly among various manufacturers that encourages in
fairness in the market. Though it does involve a huge initial capital outlay which may create an
entry barrier, it, however, also provides the benefit of economies of scale and thereby reduces
such threats. In fact there have been new players entering the market and have been growing at
reasonable pace. For example, Godrej entered the air conditioner market in the year 2005 and
carries a reasonable pie of the total market share. Several other players such as Electrolux,

6
Mitsubushi, Croma etc have entered the market. The Air Conditioners has a penetration of 3.8%
for air conditioners in urban areas3. However the air conditioners market has been growing at a
rate of more than 17% of Compounded Annual Growth rate (CAGR) and is expected to become a
total of Rs 52000 Crores market by 2015. This would also raise the penetration levels in the rural
markets that were at a 2% level in 2011-125.In addition, there has been consistent decline in the
prices of the ACs that is the result of striving innovation and increasing competition.

Herfindahl-Hirschman Index (HHI), a measure of the size of the firms in relation to the industry
and an indicator of the amount of competition among them, can be used to determine the market
structure of the industry. It is defined as the sum of squares of the market shares within the
industry where market share is expressed as fractions. The value of the index varies from 0 to 1,
where 0 implies perfect competition and 1 implies a monopolistic market structure.For the above
market share of the various companies, HHI can be calculated for the 19 firms in the industryas
follows-

Here, the value of 0.122815 implies that the market share does not have a
monopolistic power in favour of any firm. The value also suggests that the market
structure is not even oligopolistic. This is similar to the interpretation that was
deduced on the basis of the understanding of the market mentioned above.

The industry can be sub-divided into non-ducted and ducted products. The demand for non-
ducted products -- window air-conditioners and mini-splits -- comes from both households and
corporate. The demand for ducted products -- central plants, packaged air-conditioners and ducted

7
splits -- is only from the corporate but in times to come, we foresee a rise in demand for such
units for households also.

Industry Trends

A vast majority of middle-class Indian homes have traditionally battled the summer heat with the
help of fans or giant fan-driven water coolers which blast cool air. "All these years companies
have thought of an AC as an expensive luxury product but that's no longer true,” (The AC) has
moved from its luxury status to a necessity item just like any washing machine or refrigerator. Air
conditioner companies see India as a potential gold mine as it offers a winning combination of
rising disposable incomes and AC ownership levels of just 1.1 percent of households. And
average prices for air conditioners in India have dropped by about 10 percent over the past two
years thanks to new companies entering the fray, making them more accessible to consumers.

With average incomes rising, AC penetration to follow the same trajectory as colour TV
ownership which is pegged at 18 percent of all households and whose sales have also been
spurred by falling prices. Indians bought 7.5 million colour TVs in the year to March 2013 and
sales could leap 30 to 32 percent this year, industry estimates say. The Indian middle-class,
estimated at between 45-70 million people, is the main target for air conditioner companies. AC
sales grew 5.0 percent in 2013 and would have raised more but early rains cooled temperatures
and chilled demand. The dismal supply of power where outages, lasting hours, are a part of life in
large swathes of India, could still throw a spanner into the bullish hopes of AC companies. The
big problem is the quality of power supply and the cost of running an AC running costs are
upwards of three rupees an hour depending upon electricity tariffs. Also hurting growth is the
unofficial "grey" market that accounts for close to 15 percent of the sales. But that is down from
70 percent a decade ago, as competition among established players and growing preference for
brand name ACs among consumers who want after-sales service has narrowed the gap to around
3,000 rupees from 7,000 earlier. It will shrink further and further as markets mature and
consumers get educated.

Indian air conditioner market is already flooded by players like Hitachi, Whirlpool, LG, Haier,
Samsung, Daikin, Videocon and many more, each competing on the basis of price and features.

8
Air Conditioner Market

THANKS TO the fabled Indian middle-class, the air-conditioner market is hooting up. An
inordinately hot summer in 2011 appears to have convinced the people the comfort of an air-
conditioner and a large number appears to have decided to take one home this year. Indeed, in the
last few the years, the demand for air-conditioners from the household sector has been growing
rapidly. Still, the demand growth in 2012 was particularly noticeable, and was also the most
significant change in the industry during this period.

According to some industry estimates, growth in volume terms has been 45-50 per cent this
fiscal. But official statistics underestimate this and even report a decline in production.
Nevertheless, by all accounts, including a study by the Confederation of Indian Industry, there has
been a noticeable jump in the demand for air-conditioners from the household segment. After
several years of relatively modest growth, which was totally at variance with the latent potential
of the product, the sharp growth in demand the summer past was very welcome for air-
conditioner companies in many respects. One, it relatively reduced their dependence on the
corporate sector which is still the major demand driver. Corporate traditionally accounted for
about 60 per cent of the total demand for air-conditioners. But the burgeoning demand from the
household segment could level the ratio in the near future

One of the significant factors influencing the fortunes of the industry is the taxation structure. The
industry has come a long way from the time when the excise duty structure favoured only the
unorganized sector. The steady fall in the excise rate in the 1990s helped the organized sector
cope with the competition from the unorganized sector on more favourable terms. Still, the
unorganized sector continues to meet a sizeable proportion of the demand for non-ducted
products.

There was a significant change in the excise duty structure in 2000. The rate was raised from 30
per cent to 32 per cent and this was expected to adversely impact the industry. However, the shift
to a maximum retail price based system for the levy of excise appears to have helped the
manufacturers. In the MRP-based system, an abatement of around 40 per cent was provided. This
ensured that the impact of the increase in excise was minimal if not positive. Another major fiscal
change is the removal of quantitative restrictions on imports. Imports are, however, not all that
competitive considering the Customs duty structure. An import duty of 44 per cent along with a

9
countervailing duty, which is equivalent to the excise duty, is a large enough protection for the
domestic companies.

Growth of AC market

The demand for non-ducted products grew steadily in the latter half of the 1990s. The demand for
mini-splits has grown at a higher rate compared to window ACs because of the lower base. The
demand switch from mid-sized ducted products, such as packaged ACs or ducted splits, to mini-
splits is also one of the reasons for the larger growth rates in the latter segment.

Another major reason for the growth in demand was the increased attention this product category
has attracted in the recent past. Prices of air-conditioners dropped in the past few years because of
competition. Most established players upgraded their manufacturing facilities, while fresh
capacities were created by companies such as Matsushita (National brand), Midea & Daikin. The
marketing and advertisement spend by companies has also been on the rise.

With such investments flowing into building both the product and the brand, the expansion of the
market was inevitable. As seen with other consumer durables, in the initial years of increased
intensity of competition, both existing and new players invest more cash. This leads to a drop in
prices, fuelling demand and the result is a much larger market. And the non-ducted segment has
attracted a lot of players in the last few years. The latent long-term demand potential from Indian
households has led to a number of multinational companies making a beeline to set up base in the
country.

Major players in this product category are Daikin, Carrier Midea, Hitachi & Blue Star. Brands
such as Videocon and Godrej also have a sizeable presence. Among the recent entrants, the
Korean brands such as Samsung and LG have been able to make an immediate impact. Other
brands that have positioned themselves for a share in this fast-growing market are National, Fuji
General and Daikin. On a much smaller scale, Whirlpool and Electrolux have entered the market
to cater to household demand.

Initially, the entry of new players did have an adverse impact on the established players --
especially Voltas and Carrier Aircon. The reduced sales of window ACs by Carrier Aircon and
Voltas in 1999-2000 compared to 1998-99 is testimony to the adverse impact caused by the entry
of the new brands, especially Samsung and LG. However, since the beginning of 2000-01, it does

10
appear that the established players -- Carrier Aircon and Voltas -- have started to hit back. They
may have even picked up some of the market shares they lost in the earlier period. Again,
initially, margins of established companies suffered as larger outlays in selling and distribution
failed to translate into superior sales growth. The trend now appears to have been reversed.

History

When Willis Carrier invented the first system for “manufactured weather” in 1902, he sparked an
industry that revolutionized the way in which we live, work and play. From that defining moment
– and through to the present day – Carrier has been a company built on a legacy of innovation.
For more than a century, our research, expertise and forethought have resulted in market-leading
innovations and “firsts” that have shaped and defined the heating, air conditioning and
refrigeration industry. Through our history of product excellence and committed customer
service, we have evolved into a global company serving millions of people and businesses in 172
countries on six continents around the world.

11
1.2 PROFILE OF THE ORGANIZATION

VOLTAS LIMITED is a leading air conditioning company,

having its own sales networks in entire India. We are proud to
say that over the decades we have been recognized in trade for
our technical expertise, international quality standard & modern
products under the brand VOLTAS Ltd.

VOLTAS is a name, globally trusted by millions of customers

for best quality. The modern and fully equipped production line
offers the state-of-the art products for all kind of customers. An efficient quality assurance
department checks every piece of equipment/raw material/ components to be used or installed to
rigorous quality checks, certified to meet international quality & safety standards, because we
believe in giving the customer true value for their money. VOLTAS air conditioners are perfectly
suitable for Indian weather and voltage conditions.

Mission

OUR MISSION is to provide

world-class products to the
customer at a very competitive
price. We uphold an
indispensable policy of open
communication with our
customer. We try to understand
the dreams of each customer, in
order to bring the product that
best reflects your needs.

12
Products

Window ACs

Classic - 2 Star(Y Series)

Classic - 3 Star(Y Series)

Delux - 1 Star(Y Series)

Delux - 2 Star(Y Series)

Delux - 3 Star(Y Series)

Delux - 5 Star(Y Series)

13
Executive - 2 Star(Y Series)

Executive - 3 Star(Y

Series)

Luxury - 2 Star(Y Series)

Luxury - 3 Star(Y Series)

Luxury - 5 Star(Y Series)

Magna - 2 Star(Y Series)

14
 Magna - 3 Star(Y Series)

Magna - 3 Star(Yi Series)

Magna - 5 Star(Y Series)

Premium - 2 Star(Y Series)’

Hot & Cold (Y Series)

Advantages

 LCD Cordless Remote Control

 Super Wave Technology
 Four Way Air Deflection System
 Three Level Cooling
 Sleep Function
 Energy Saver Mode

15
 24 hours On/Off Timer
 3 Minute Protection Function
 Dry/Dehumidification Mode
 Advanced Heat Exchange System
 Easy installation
 Attractive price lesser than the Split Units
 Easily to service

16
Split AC

Classic - 2 Star(Y Series)

Classic - 3 Star(Y Series)

Classic - 3 Star(Ya Series)

Classic - 3 Star(Ye Series)

Classic - 3 Star(Yi Series)

Classic - 3 Star(Yt Series)

17
Classic - 5 Star(Y Series)

Classic - 5 Star(Ya Series)

Delux - 2 Star(Y Series)

Delux - 3 Star(Y Series)

Delux - 3 Star(Ya Series)

Delux - 5 Star(Y Series)

18
Executive - 3 Star(Y Series)

Executive - 5 Star(R)

Executive - 5 Star(S)

Executive - 5 Star(SN)

Luxury - 3 Star(Y Series)

Luxury - 3 Star(Ya Series)

19
Luxury - 3 Star(Ye Series)

Magna - 3 Star(Ya Series)

Magna - 3 Star(Ye Series)

Magna - 3 Star(Yi Series)

Magna - 5 Star(Y Series)

Premium - 3 Star(Y Series)

20
Premium - 3 Star(Ya-R Series)

DC Inverter(Y Series)

Hot & Cold

Hot & Cold - Elegant R

Hot & Cold - Elegant S

21
1.3 PROBLEMS FACED BY THE COMPANY

 Competitors position in market

 Vast distribution channel which deals almost all product

 Replacement

 Retailer satisfaction level

 Awareness about the product

1.4 MAIN COMPETITOR INFORMATION

CARRIER

Carrier is a part of United Technologies Corporation, USA. With 2008 revenue of $58.7 billion,
UTC is a conglomerate operating in the high technology space. The UTC group operates in
aerospace & building systems with companies like Carrier (air-conditioning), Otis (Elevators),
Pratt & Whitney (Jet- engines), Sikorsky (Helicopters), UTC Fire & Security (Chubb &
Kidde), Hamilton Sundstrand and UTC Power.

Carrier started its operations in India with setting up of companies namely Carrier Aircon
Limited in 1986, and Carrier Refrigeration Private Limited in 1992. Carrier brought to the Indian
consumer, access to advanced technology and air-conditioning and refrigeration products from
the worldwide product portfolio of Carrier. In October, 2006, Carrier Aircon merged with Carrier
Refrigeration and the name of the merged entity was changed to “Carrier Airconditioning &
Refrigeration Limited” (Carrier India).

22
LG

LG, we believe that technological innovation is the key to success in the marketplace. Founded in
1958, we've led the way in bringing advanced digital products and applied technologies to our
customers. With our commitment to innovation and assertive global business policies we aim to
become a worldwide leader in advanced digital technology.

LG’s vision is to deliver innovative digital products and services that make our customers’ lives
better and easier—happier, even—through increased functionality and fun.

PHILIPS

Philips Electronics India Limited, a subsidiary of the Netherlands-based Royal Philips

Electronics, is the leading Health and Wellbeing company.

Today, Philips is a simpler and more focused company with global leadership positions in key
markets of Healthcare, Lighting and Consumer Lifestyle, addressing people’s Health and
wellbeing needs and aspirations as its overarching theme.

23
SAMSUNG

Samsung, follow a simple business philosophy: to devote our talent and technology to creating
superior products and services that contribute to a better global society.

Every day, our people bring this philosophy to life. Our leaders search for the brightest talent
from around the world, and give them the resources they need to be the best at what they do. The
result is that all of our products—from memory chips that help businesses store vital knowledge
to mobile phones that connect people across continents— have the power to enrich lives. And
that’s what making a better global society is all about.

DAIKIN

Daikin is a Japanese multinational air conditioner manufacturing company headquartered in

Osaka. It has operations in Japan, China, Australia, India, Southeast Asia, Europe, and North
America.

Daikin codeveloped a R-410A refrigerant with Carrier and is an innovator in the Split System Air
Conditioning Market, and is the inventor of Variable Refrigerant Flow (VRF) air conditioning
systems (These systems are called Variable Refrigerant Volume or VRV by Daikin).
Today, it is India's No. 3 AC maker after LG and Voltas, with a 12 to 12.5 per cent market share in
split ACs. Once, the top two positions were dominated by Korean giants LG and Samsung.

24
1.5 SWOT ANALYSIS OF VOLTAS LIMITED

Strength:-

 Manufacturing unit in tax-incentive areas.

 Wide range of product categories to tap the consumer of middle class, upper middle class and
high class.

 Voltas Limited has the widest distribution network in the industry.

 It has successfully introduced finance schemes that have taken air-conditioners out of the
luxury category and made it affordable for the home buyer.

 VOLTAS has a strong nation-wide infrastructure with around 20 offices and 400 odd
exclusive dealers.

Weakness:-

 Consumer compares Voltas Limited products with its competitors Samsung, LG on the basis
of price but not with another foreign brand.

 Similar product categories as compared to its close competitors Samsung, LG, Hitachi.

 After sales services is one of the most crucial aspects.

Opportunity:-

 AC market is growing very fast, so there is an opportunity for VOLTAS to launch new
products.

 Growing Indian middle class characterized with low penetration level of consumer durable.

 Advent of Internet provides an excellent opportunity to reach to a large base of consumers

and cut costs.

 There is a changing dynamics of consumer behavior where in luxury goods are being
perceived as necessities with higher disposable incomes being spent on lifestyle products.

25
Threat:-

 Likely to face fierce competition from domestic companies as they have well acknowledged
brands, an extensive distribution network and better insights about the local market
conditions.

 Increased threats from cheaper imports, especially from China.

 Inflation effect

 Compare Voltas Limited products with Samsung and LG products.

 Price war with its closest competitors, Samsung & LG.

 Competitions from foreign brand and from new entrants.

26
CHAPTER – 2

RESEARCH
OBJECTIVE

27
 RESEARCH OBJECTIVE AND METHODOLOGY

2.1 SIGNIFIANCE

The main significance of the project is to find which promotion scheme and advertising media is
most effective from the point of view of consumers and also to know the satisfaction level of
customers.

2.2 MANAGERIAL USEFULNESS OF THE STUDY

 It can be useful for adopting the proper marketing strategies in respect of type of AC and
market share.

 It can be useful to understand the consumer perception which is very vital for product mix as
well as promotion mix.

 The department can use this study to enhance their marketing strategies for better sales. This
report helps marketing department in taking decision to what change in distribution channels
and what should be done so that marketing problem could be shorted out and how to sell their
range of product in the competitive market.

 Its helps the firm acquire a better understanding of the consumer, the competition and the
marketing environment. It also aids he formulation of marketing mix, decision on each
element of marketing mix, product, distribution and promotion and pricing etc need the
support of marketing research

2.3 OBJECTIVES

 To study the consumer attitude towards VOLTAS Air Conditioner.

 To know influencing factor to buy VOLTAS Air Conditioner.

 To know the satisfaction level of consumers.

 To know the customer opinion about VOLTAS Air Conditioner.

28
 CHAPTER – 3

METHODOLOGY

29
3.1 METHODOLOGY

The objective of the present study can be accomplished by conducting a systematic market
research. Market research is the systematic design, collection, analysis and reporting of data and
findings that are relevant to different marketing situations facing the company. The marketing
research process that will be adopted in the present study will consist of the following stages:

Research Instruments:

The research instruments generally used to collect the primary data are Questionnaires and
Mechanical instruments.

Questionnaires:

Questionnaires are formal set of questions prepared to collect the required information. This is
one of the most effective and popular techniques used in surveys. However, we had to be careful
when drawing up questionnaires. Before deciding on the questions, it was important to
understand the exact nature of information required and who should be interviewed. The
knowledge level of target respondents was kept in mind, while drawing of questions. The major
junk of the customer was basically from urban background. The questionnaires were designed in
English.

Sampling:

The sample is a subset of a unit of a population, collected as a representation of it. The proper
sample design is essential in marketing research. The sample has to be collected in such a way,
that it represents the population. The sample was taken from all the segments of the customers.

Sample Size:

The size of the sample is an important element in the research process as it has a direct affect on
the result of the research. As a size of sample increases, accuracy and reliability of the research
results also increases. However, the cost of the research also increases. Therefore, we need to
make a trade off between the accuracy and cost of research. Type of project was another
important aspect of deciding the sample size.

30
 During this project we touched 100 customers in Delhi region

The marketing research process that will be adopted in the present study will consist of following
stages:

* Defining the problem and the research objective:

The research objective states what information is needed to solve the problem. The objective of
the research is to derive the opinion of the users and opinion of the potential customers.

* Developing the research plan:

Once the problem is identified, the next step is to prepare a plan for getting the information
needed for the research. The present study will adopt the exploratory approach wherein there is a
need to gather large amount of information before making a conclusion. If required, the
descriptive and casual approaches may also be used.

* Collection and Sources of data:

Market research requires two kinds of data, i.e., Primary data and Secondary data. Being a firm in
service industry, data gathering will involve usage of both primary and secondary data though
there will be an extensive usage of primary data. Well-structured questionnaires will be prepared
for both the existing and the potential customers. There will be personal interview surveys mostly
in-home (door-to-door) surveys. The questionnaires will contain both open-ended and close-
ended questions. Secondary data will be collected from various journals, books and web sites.

* Analyze the collected information:

This involves converting raw data into useful information. It involves tabulation of data, using
statistical measures on them for developing and calculating the averages.

31
 CHAPTER-4
CONCEPTUAL
DISCUSSION

32
Customer satisfaction, a business term, is a measure of how products and services supplied by
a company meet or surpass customer expectation. It is seen as a key performance indicator
within business and is part of the four perspectives of a Balanced Scorecard.

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.

There is a substantial body of empirical literature that establishes the benefits of customer
satisfaction for firms.

33
 Fundamentals

Basically, you might look at marketing as the wide range of activities involved in making sure
that you're continuing to meet the needs of your customers and are getting value in return.
Marketing analysis includes finding out what groups of potential customers (or markets) exist,
what groups of customers you prefer to serve (target markets), what their needs are, what
products or services you might develop to meet their needs, how the customers might prefer to
use the products and services, what your competitors are doing, what pricing you should use and
how you should distribute products and services to your target markets. Various methods of
market research are used to find out information about markets, target markets and their needs,
competitors, etc. Marketing also includes ongoing promotions, which can include advertising,
public relations, sales and customer service.

WHAT IS THE CUSTOMER SATISFACTION MODEL? DESCRIPTION

The customer satisfaction model from N. Kano is a quality management and marketing
technique that can be used for measuring client happiness.

Kano's model of customer satisfaction distinguishes six categories of quality attributes, from
which the first three actually influence customer satisfaction:

1. Basic Factors. (Dissatisfiers. Must have.) - The minimum requirements which will
cause dissatisfaction if they are not fulfilled but do not cause customer satisfaction if
they are fulfilled (or are exceeded). The customer regards these as prerequisites and
takes these for granted. Basic factors establish a market entry 'threshold'.

2. Excitement Factors. (Satisfiers. Attractive.) - The factors that increase customer

satisfaction if delivered but do not cause dissatisfaction if they are not delivered. These
factors surprise the customer and generate 'delight'. Using these factors, a company can
really distinguish itself from its competitors in a positive way.

3. Performance Factors. The factors that cause satisfaction if the performance is high and
they cause dissatisfaction if the performance is low. Here, the attribute performance-
overall satisfaction is linear and symmetric. Typically these factors are directly
connected to customers' explicit needs and desires and a company should try to be
competitive here.

34
The additional three attributes which Kano mentions are:

4. Indifferent attributes. The customer does not care about this feature.

5. Questionable attributes. It is unclear whether this attribute is expected by the

customer.

6. Reverse attributes. The reverse of this product feature was expected by the customer.

Origin of the customer satisfaction model. History

The approach towards analyzing customer satisfaction was first published in an article
by KANO, N. SERAKU, N., TAKAHASHI, F. & TSUJI, S. (1984) Attractive quality and
must-be quality, Hinshitsu (Quality, the Journal of Japanese Society for Quality Control), 14,
pp. 39-48.

Usage of the customer satisfaction model. Applications

Besides the obvious quality management and marketing usage, Kurt Matzler, Matthias
Fuchs and Astrid Schubert wonder in their article "Employee Satisfaction: Does Kano's Model
Apply?" (Total Quality Management & Business Excellence, November-December 2004)
whether Kano's model on customer satisfaction factors is also relevant to describe employee
satisfaction. Since employees can be perceived as internal customers. They reach the
conclusion that Kano's theory is indeed useable for internal customers analysis as well.

Steps in the customer satisfaction model. Process

Kano developed a questionnaire to identify the basic, performance and excitement

factors as well as the other three additional factors.

1. For each product feature a pair of questions is formulated to which the customer can
answer in one of five different ways.

2. The first question concerns the reaction of the customer if the product shows that
feature (functional question);

3. The second question concerns the reaction of the customer if the product does NOT
show this feature (dysfunctional question).

4. By combining the answers all attributes can be classified into the six factors.

35
Customer Expectations

Customer is defined as anyone who receives that which is produced by the individual or
organization that has value. Customer expectations are continuously increasing. Brand loyalty is a
thing of the past. Customers seek out products and producers that are best able to satisfy their
requirements. A product does not need to be rated highest by customers on all dimensions, only
on those they think are important.

 Customer-driven strategy for improvement – any management activity should eventually

lead to increased customer satisfaction...

The Canon Production System (CPS) is about:

1. Environmentally-conscious manufacturing and logistics
2. Quality-oriented methods
3. Lower costs
4. Shorter deadlines
5. ... All aim for maximum customer satisfaction...

36
CUSTOMER LOYALTY

"It takes a lot less money to increase your retention of current customers than to find new
ones-but I know I don't give it as much effort as I should because it does take a lot of energy and
effort!"

Strategize And Plan For Loyalty!

Do we even have a specific plan for building customer loyalty?

We bet ourselves haven't given it as much thought as we should- because to tell the truth we need
to give it more effort also.

If we currently retain 70 percent of our customers and we start a program to improve that to 80
percent, we'll add an additional 10 percent to our growth rate.

Particularly because of the high cost of landing new customers versus the high profitability of a
loyal customer base, you might want to reflect upon your current business strategy.

37
These four factors will greatly affect your ability to build a loyal customer base:

1. Products that are highly differentiated from those of the competition.

2. Higher-end products where price is not the primary buying factor.

3. Products with a high service component.

4. Multiple products for the same customer.

Market To Your Own Customers!

Giving a lot of thought to your marketing programs aimed at current customers is one aspect of
building customer loyalty.

When you buy a new car, many dealers will within minutes try to sell you an extended warranty,
an alarm system, and maybe rust proofing. It's often a very easy sale and costs the dealer almost
nothing to make. Are there additional products or services you can sell your customers?

Three years ago my house was painted, and it's now due for another coat. Why hasn't the painter
called or at least sent a card? It would be a lot less expensive than getting new customers through
his newspaper ad, and since I was happy with his work I won't get four competing bids this time.
Keep all the information you can on your customers and don't hesitate to ask for the next sale.

Use Complaints To Build Business!

When customers aren't happy with your business they usually won't complain to you - instead,
they'll probably complain to just about everyone else they know - and take their business to your
competition next time. That's why an increasing number of businesses are making follow-up calls
or mailing satisfaction questionnaires after the sale is made. They find that if they promptly
follow up and resolve a customer's complaint, the customer might be even more likely to do
business than the average customer who didn't have a complaint.

In many business situations, the customer will have many more interactions after the sale with
technical, service, or customer support people than they did with the sales people. So if you're
serious about retaining customers or getting referrals, these interactions are the ones that are
really going to matter. They really should be handled with the same attention and focus that sales
calls get because in a way they are sales calls for repeat business.

38
ER COMPLAINTS

Why Tackle Customer Complaints?

Companies find that effectively handling customers with problems is critical to their reputations
as well as their bottom lines. When customers complain and they are satisfied with the way their
complaint is handled, they are more likely to purchase another product or service from the same
company. Companies that resolve complaints on the first contact increase customer satisfaction
and product loyalty, improve employee satisfaction, and reduce costs. Companies even encourage
complaints. Most dissatisfied customers do not complain. By making it easy for customers to
complain, more customers will come to you with their problems, giving you greater opportunity
to correct your service delivery or production processes. Customers who get their problems
satisfactorily and quickly solved tell their friends and neighbours, and they are not easily won
over by the competition.

There is a bottom-line concern for government as well. As noted above, complaints can be costly.
Repeated hand-offs increase costs and waste precious resources. When complaints are not
promptly resolved, frustrated customers seek redress in different agencies or at different parts or
levels of the same agency, resulting in duplicate effort and compounding costs.

Just as costs compound when there is a poor complaint system, trust also erodes as citizens
become frustrated with a non-responsive bureaucracy. Indeed, there has been a cumulative
erosion of public confidence in government. Thirty years ago, 70 percent of Americans trusted the
federal government to do the right thing most of the time. In 1993, only 17 percent of Americans
said that they trusted the government.(2) There are many factors contributing to this decline in
trust and confidence, particularly the huge volume of regulations that did not make sense to the
public and the high cost of government. However, we learned from our benchmarking partners
that an effective approach to resolving complaints is invaluable in winning the trust and loyalty of
our customers--the public.

There are costs associated with a poor complaint system and there are benefits associated with a
good one. Studies have shown that handling customer complaints well can be a critical part of a
turnaround strategy. If a complaint is handled well, it sustains and strengthens customer loyalty
and the company's image as a leader. It also tells the customer that the company cares and can
improve because of their contact. In government agencies, it promotes public confidence in
government services.

39
Customer complaints also represent valuable information about recurrent problems. They can
point the way to understanding the root causes of customer problems and help an organization
target core processes that need improvement. If acted upon to improve core processes, customer
complaints can be a source of information that can reduce costs as well as improve services.

Customer Complaints Create Profit

Customer complaints are like medicine. Nobody likes them, but they make us better.
Actually, they are probably more like preventative medicine because they provide advanced
warning about problems. Financial statements, in contrast, provide a historical perspective.
By the time problems manifest in the financial statements, forget the medicine. It’s time for
emergency surgery.

Studies from the Technical Assistance Research Program* in Arlington, VA suggest that the
root cause of customer complaints can be traced back to one of three areas: individual
employees, the company, or the customer, with 80% of complaints traceable to the last two
categories. By listening carefully, we can identify opportunities for training employees,
improving products and services, and educating customers.

Individual Employees

Business is becoming increasingly complex and fast-paced. Customer service professionals

have to know their product or service, their company information, the technology that supports
it, and how to communicate all of this to savvy, demanding customers. Even a small gap in
knowledge or skill could cause huge repercussions in terms of lost business.

When I first started my seminar business, I received a few complaints about my individual
skills as a speaker. Some customers complained that they didn’t like my Philadelphia accent,
my hairstyle, the way I moved around the room, or the pace of my delivery. After I cried for a
few hours, I decided to invest in voice lessons, an image consultant, and a video camera.
These have been some of the best investments I have ever made. I never want to get in the
way of my own success. Companies should not let their employees’ lack of knowledge or
skill get in the way of their success.

The Company

More often, the culprit is the actual product or service we provide. There may be an inherent
flaw in the design. There could be a glitch in the distribution channel that causes

40
dissatisfaction. Even if everything is perfect, marketing pieces, advertising campaigns, and
salespeople could inflate value and create customer expectations that are impossible to satisfy.

Recently, I was providing a service that involved a series of facilitated sessions. I allowed the
customer to choose the dates of our sessions. Even though there were very few sessions, they
occurred over a long period of time and the customer complained that the project took too
long to complete. I made reparations to the client and decided to restructure the service and
the pricing so that in the future I would control the timing of sessions. Now sessions always
happen over a shorter period of time and the service has a higher value and is more profitable.
I have fixed the delivery process of my service.

The Customer

As many of us have always suspected, customers actually cause most of the problems they
complain about. It’s not our fault. It’s not our employees’ fault. It’s the customer’s fault. Yet
even here there is profit to be mined. Customer education and innovation are the possible
solutions.

I always send out a pre-program questionnaire to customers in order to tailor their seminars.
If customers have email, I send the questionnaire via email. Recently, I had a customer who
did not know how to return the email questionnaire to me with responses filled in. I sent back
brief instructions on how to work the email, which could be classified here as customer
education.

Afterwards, I started wondering if there could be a better, easier, cleaner way to collect
information, in other words, innovate. From that complaint, I decided to create hidden web
pages on my website, customized to each customer with their company logo and
questionnaire. Customers just click a link from an email, type their responses into a form on
the web page that appears, and hit a submit button. This approach is much simpler and more
impressive. I do this with all of my customers now and advertise it in my marketing.

Summary

Customer complaints are never easy to hear. If we shift from being defensive to opportunistic,
complaints can be our best friend. If we do not listen, rest assured, the financial statement will
communicate the news eventually.

41
MEASURING CUSTOMER SATISFACTION

Organizations are increasingly interested in retaining existing customers while targeting non-
customers; measuring customer satisfaction provides an indication of how successful the
organization is at providing products and/or services to the marketplace.

Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of the
state of satisfaction will vary from person to person and product/service to product/service.
The state of satisfaction depends on a number of both psychological and physical variables
which correlate with satisfaction behaviors such as return and recommend rate. The level of
satisfaction can also vary depending on other options the customer may have and other
products against which the customer can compare the organization's products.

Because satisfaction is basically a psychological state, care should be taken in the effort of
quantitative measurement, although a large quantity of research in this area has recently been
developed. Work done by Berry, Brodeur between 1990 and 1998 defined ten 'Quality Values'
which influence satisfaction behavior, further expanded by Berry in 2002 and known as the ten
domains of satisfaction. These ten domains of satisfaction include: Quality, Value, Timeliness,
Efficiency, Ease of Access, Environment, Inter-departmental Teamwork, Front line Service
Behaviors, Commitment to the Customer and Innovation. These factors are emphasized for
continuous improvement and organizational change measurement and are most often utilized
to develop the architecture for satisfaction measurement as an integrated model. Work done by
Parasuraman, Zeithaml and Berry between 1985 and 1988 provides the basis for the
measurement of customer satisfaction with a service by using the gap between the customer's
expectation of performance and their perceived experience of performance. This provides the
measurer with a satisfaction "gap" which is objective and quantitative in nature. Work done by
Cronin and Taylor propose the "confirmation/disconfirmation" theory of combining the "gap"
described by Parasuraman, Zeithaml and Berry as two different measures (perception and
expectation of performance) into a single measurement of performance according to
expectation. According to Garbrand, customer satisfaction equals perception of performance
divided by expectation of performance.

The usual measures of customer satisfaction involve a survey with a set of statements using a
Likert Technique or scale. The customer is asked to evaluate each statement and in term of
their perception and expectation of performance of the organization being measured.

42
CUSTOMER SATISFACTION IN 7 STEPS

It's a well known fact that no business can exist without customers. In the business of
Website design, it's important to work closely with your customers to make sure the site
or system you create for them is as close to their requirements as you can manage.
Because it's critical that you form a close working relationship with your client,
customer service is of vital importance. What follows are a selection of tips that will
make your clients feel valued, wanted and loved.

1. Encourage Face-to-Face Dealings

This is the most daunting and downright scary part of interacting with a customer. If you're
not used to this sort of thing it can be a pretty nerve-wracking experience. Rest assured,
though, it does get easier over time. It's important to meet your customers face to face at least
once or even twice during the course of a project.

My experience has shown that a client finds it easier to relate to and work with someone
they've actually met in person, rather than a voice on the phone or someone typing into an
email or messenger program. When you do meet them, be calm, confident and above all, take
time to ask them what they need. I believe that if a potential client spends over half the
meeting doing the talking, you're well on your way to a sale.

2. Respond to Messages Promptly & Keep Your Clients Informed

This goes without saying really. We all know how annoying it is to wait days for a response
to an email or phone call. It might not always be practical to deal with all customers' queries
within the space of a few hours, but at least email or call them back and let them know you've
received their message and you'll contact them about it as soon as possible. Even if you're not
able to solve a problem right away, let the customer know you're working on it.

3. Be Friendly and Approachable

A fellow Site Pointer once told me that you can hear a smile through the phone. This is very
true. It's very important to be friendly, courteous and to make your clients feel like you're
their friend and you're there to help them out. There will be times when you want to beat your
clients over the head repeatedly with a blunt object - it happens to all of us. It's vital that you

43
keep a clear head, respond to your clients' wishes as best you can, and at all times remain
polite and courteous.

4. Have a Clearly-Defined Customer Service Policy

This may not be too important when you're just starting out, but a clearly defined customer
service policy is going to save you a lot of time and effort in the long run. If a customer has a
problem, what should they do? If the first option doesn't work, then what? Should they
contact different people for billing and technical enquiries? If they're not satisfied with any
aspect of your customer service, who should they tell?

There's nothing more annoying for a client than being passed from person to person, or not
knowing who to turn to. Making sure they know exactly what to do at each stage of their
enquiry should be of utmost importance. So make sure your customer service policy is
present on your site -- and anywhere else it may be useful.

5. Attention to Detail (also known as 'The Little Niceties')

Have you ever received a Happy Birthday email or card from a company you were a client
of? Have you ever had a personalized sign-up confirmation email for a service that you could
tell was typed from scratch? These little niceties can be time consuming and aren't always
cost effective, but remember to do them.

Even if it's as small as sending a Happy Holidays email to all your customers, it's something.
It shows you care; it shows there are real people on the other end of that screen or telephone;
and most importantly, it makes the customer feel welcomed, wanted and valued.

6. Anticipate Your Client's Needs & Go Out Of Your Way to Help

Them Out

Sometimes this is easier said than done! However, achieving this supreme level of
understanding with your clients will do wonders for your working relationship.

Take this as an example: you're working on the front-end for your client's exciting new
ecommerce Endeavour. You have all the images, originals and files backed up on your
desktop computer and the site is going really well. During a meeting with your client he/she
happens to mention a hard-copy brochure their internal marketing people are developing. As

44
if by magic, a couple of weeks later a CD-ROM arrives on their doorstep complete with high
resolution versions of all the images you've used on the site. A note accompanies it which
reads:

"Hi, you mentioned a hard-copy brochure you were working on and I wanted to provide you with
large-scale copies of the graphics I've used on the site. Hopefully you'll be able to make use of
some in your brochure."
Your client is heartily impressed, and remarks to his colleagues and friends how very helpful
and considerate his Web designers are. Meanwhile, in your office, you lay back in your chair
drinking your 7th cup of coffee that morning, safe in the knowledge this happy customer will
send several referrals your way.

7. Honor Your Promises

It's possible this is the most important point in this article. The simple message: when you
promise something, deliver. The most common example here is project delivery dates.

Clients don't like to be disappointed. Sometimes, something may not get done, or you might
miss a deadline through no fault of your own. Projects can be late, technology can fail and
sub-contractors don't always deliver on time. In this case a quick apology and assurance it'll
be ready ASAP wouldn't go amiss.

45
Customer service, like any aspect of business, is a practiced art that takes time and effort to
master. All you need to do to achieve this is to stop and switch roles with the customer. What
would you want from your business if you were the client? How would you want to be treated?
Treat your customers like your friends and they'll always come back.

46
 CHAPTER-5

DATA ANALYSIS
AND
INTERPRETATION

47
 DATA ANALYSIS AND OBSERVATIONS

5.1 ANALYSIS AND INTERPRETATION

Distribution of Respondents on the basis of information.
S.NO. INFORMATION FREQUENCY PERCENTAGE

01 Friends 08 08.0

02 Relatives 14 14.0

03 Advertisement 73 73.0

04 Others 05 05.0

TOTAL 100 100.0

Inference: The above table shows that 73.0% of respondents came to know about VOLTAS AC
through advertisement, 14.0% through relatives, 08.0% through friends and 05.0% through
others.

Distribution of Respondents on the basis of Factor of attraction.

48
 S.N0. ATTRACTION FREQUENCY PERCENTAGE

01 Price 05 05.0

02 Performance 67 10.0

03 Company Image 18 18.0

04 After Sales Service 10 10.0

TOTAL 100 100.0

Inference: It is clear from the above table that 67.0% of respondents have attracted by the
performance of the product, 18.0% of them are attracted by image of the company, 10.0% of the
respondents are attracted by after sales service, 5.0 of them are attracted by means of price.

Distribution of Respondents on the basis of Factor of loyalty.

S.NO. LOYALTY FREQUENCY PERCENTAGE

49
 01 Strongly disagree 10 10.0

02 Disagree 09 09.0

03 Indifferent 20 20.0

04 Agree 49 49.0

05 Strongly agree 12 12.0

TOTAL 100 100.0

Inference: It is clear from the above table that 49.0% of respondents are agree, 20.0% are
indifferent, 12.0% strongly agree, 10.0% strongly disagree and 09.0% disagree with the
statement of loyalty.

Table 11: Distribution of Respondents on the basis of Price.

S.NO PRICE FREQUENCY PERCENTAGE

01 Very high 28 28.0

02 High 44 44.0

03 Normal 25 25.0

50
 04 Low 02 02.0

05 Very low 01 01.0

TOTAL 100 100.0

INFERENCE: It is clear from the above table that 44.0% of respondents think that price is
high, 28.0% very high, 25.0% normal, 02.0% low and 01.0% of respondents think the price is
very low.

Distribution of Respondents on the basis of Promotional tools.

S.N0 PROMOTIONAL TOOLS FREQUENCY PERCENTAGE

01 Strongly disagree 08 08.0

02 Disagree 18 18.0

03 Indifferent 26 26.0

51
 04 Agree 45 45.0

05 Strongly agree 03 03.0

TOTAL 100 100.0

INFERNCE: The above table shows that 45.0% agree with the promotional tools used, 26.0%
are indifferent, 18.0% disagree, 08.0 % strongly disagree and 03.0 % strongly agree.

Table 14: Distribution of Respondents on the basis of Quality.

52
Inference: It is shown from the above table that 35.0% of the respondents are having good
attitude towards the quality of this product, 34.0% having excellent attitude of the quality towards
this product, 28.0% of them says as a very good quality and only 03.0% have a fair about the
quality of this product.

Table 16: Distribution of Respondents on the basis of Brand Image.

53
 S.NO. BRAND IMAGE FREQUENCY PERCENTAGE

01 Strongly disagree 08 08.0

02 Disagree 07 07.0

03 Indifferent 24 24.0

04 Agree 52 52.0

05 Strongly agree 09 09.0

TOTAL 100 100

Inference: The above table shows that 52.0% are agree ,24.0% are indifferent , 09.0% are
strongly agree, 08.0% are strongly disagree and 07.0% are disagree.
Distribution of Respondents on the basis of Attitude.

54
 S.NO. ATTITUDE FREQUENCY PERCENTAGE

01 Highly Positive 20 20.0

02 Positive 42 42.0

03 Neutral 27 27.0

04 Negative 11 11.0

05 Highly Negative 00 00.0

TOTAL 100 100.0

INFERNCE: The above table shows that 42.0% are having positive attitude, 27.0% are neutral,
20.0% are highly positive and 11.0% are having negative attitude towards spices.

55
Distribution of Respondents on the basis of change.
S.NO. CHANGE PERCENTAGE FREQUENCY

01 Price 21 21.0

02 Package 13 13.0

03 Quality 49 49.0

04 Taste 15 15.0

05 Company image 02 02.0

TOTAL 100 100.0

INFERENCE: The above table shows that 49.0% will change to other products if there is any
change in quality, 21.0% fall in price category, 15.0% fall in taste category, 13.0% fall in package
category and 02.0% fall in company image category

56
Distribution of Respondents on the basis of Satisfaction.

S.NO. SATISFACTION FREQUENCY PERCENTAGE

01 Highly Dissatisfied 03 03.0

02 Dissatisfied 08 08.0

03 Indifferent 19 19.0

04 Satisfied 62 62.0

05 Highly Satisfied 08 08.0

TOTAL 100 100.0

INFERENCE: The above table shows that 62.0% agree ,19.0% are indifferent, 08.0% are
strongly agree , 08.0% are disagree and 03.0% are strongly disagree .

Distribution of Respondents on the basis of Information about new range of products.

S.NO. INFORMATION ABOUT FREQUNCY PERCENTAGE

57
 NEWPRODUCTS

01 Always 37 37.0

02 Usually 16 16.0

03 Sometimes 32 32.0

04 Never 15 15.0

TOTAL 100 100.0

INFERENCE: The above table shows that 32.0% are sometimes informed about new products
37.0% very often, 16.0% often and 15.0% never.

58
 CHAPTER-6

FINDINGS AND
RECOMMENDATIONS

59
 FINDINGS

 From the survey I found that the consumers came to know about the VOLTAS AC
through advertisement this means that they have strong medium of advertisement.

 It was observed that most of the customers expressed their unhappiness over the price of
ACs despite this the consumers prefer the AC because of the performance and it shows
that customers are very loyal towards the VOLTAS.

 It is inferred from the analysis that maximum no respondents agree that promotional tools
used by company are good and attractive.

 During the study it is found that the brand image of spices is good as compared to other
spice products in the market.

 During the study it is found that consumers have positive attitude towards the VOLTAS
AC.

 Through my survey, I came to know that most of the customers are satisfied with the
VOLTAS brand.

 Consumers do not differ in their opinion about the attitude towards VOLTAS AC on the
basis of age.

 Consumers do not differ in their opinion about the satisfaction level towards VOLTAS
AC on the basis of age.

 Consumers differ in their opinion about the loyalty towards VOLTAS AC on the basis of
qualification.

 Consumers do not differ in their opinion about the performance of VOLTAS AC on the
basis of qualification.

 Consumers differ in their opinion about the brand image of VOLTAS AC on the basis of
qualification.

 Consumers do not differ in their opinion about the loyalty towards VOLTAS AC on the
basis of occupation.

60
 Consumers differ in their opinion about the price of VOLTAS AC on the basis of
occupation.

 Consumers do not differ in their opinion about the quality of VOLTAS AC on the basis of
occupation.

 Consumers differ in their opinion about the satisfaction level towards VOLTAS AC on
the basis of occupation.

61
 RECOMMENDATIONS

From the survey of consumers it is clear that not only brand positioning, brand image and
consumer demands are not only controlling factors of the sale of product of the company
but the attitude and satisfaction also play a major role. VOLTAS should thus focus on the
following points:
 To retain existing customers means offering the best scheme. This would automatically
attract new customers. VOLTAS need not spend on advertisement to attract new
customers.

 Know the customer needs and understand them thoroughly before they know them
themselves.

 There should be no compromise in performance and after sales service of VOLTAS AC.
 Let the customers define what attributes are important. Know the customer’s
requirements, expectations, and wants.

 Benchmark the data against competitors, and identify competitive Strengths and
weaknesses.

 To use technology to improve customer service and enable a greater degree of customer
differentiation in order to deliver unique customer interactions.

 Be committed to getting better and better and better.

62
ANNEXURE

63
 QUESTIONNAIRE

1. You came to know about VOLTAS ACs through:

(a) Friends [ ] (b) Relatives [ ]
(c) Advertisement [ ] (d) others (Pl specify_____________________)

2. Which factor attracted you to buy VOLTAS AC?

(a) Price [ ] (b) Performance [ ]
(c) Company Image [ ] (d) After Sales Service [ ]

3. You are loyal to VOLTAS AC?

(a) Strongly disagree [ ] (b) Disagree [ ]
(c) Indifferent [ ] (d) Agree [ ]
(e) Strongly agree [ ]

4. Performance of VOLTAS AC’s is:

(a) Excellent [ ] (b) Very Good [ ]
(c) Good [ ] (e) Fair [ ]
(f) Poor [ ]

5. Price of VOLTAS ACs is:

(a) Very high [ ] (b) High [ ]
(c) Normal [ ] (e) Low [ ]
(f) Very low [ ]

6. Promotional tools used by VOLTAS ACs are good and modern:

(a) Strongly disagree [ ] (b) Disagree [ ]
(c) Indifferent [ ] (d) Agree [ ]
(e) Strongly agree [ ]

7. Brand image of VOLTAS ACs are good as compared to other brands:

(a) Strongly disagree [ ] (b) Disagree [ ]
(c) Indifferent [ ] (d) Agree [ ]
(e) Strongly agree [ ]

64
8. Your attitude towards VOLTAS ACs is:
(a) Highly positive [ ] (b) Positive [ ]
(c) Negative [ ] (d) Highly Negative [ ]

9. You will change to other products in case there is any change in:
(a) Price [ ] (b) Performance [ ]
(c) Company image [ ] (e) After Sales Services [ ]

10. You are satisfied With VOLTAS ACs?

(a) Highly Dissatisfied [ ] (b) Dissatisfied [ ]
(c) Indifferent [ ] (d) Satisfied [ ]
(e) Highly Satisfied [ ]

11. You are informed about the new range of VOLTAS ACs:
(a) Usually [ ] (b) Always [ ]
(c) Sometimes [ ] (d) Never [ ]

65
BIBLIOGRAPHY

66
1. Books

 KOTLER PHILIP, ‘Marketing Management’, Prentice Hall, New Delhi, 2006.

 KOTHARI C.R, ‘Research Methodology’, Wishwa Prakashan, New Delhi, 1990.

2. Internet Sites

 www.google.com

 www.economictimes.com

 www.VOLTASac.com

 www.ficci.com

3. Magazines and Newspapers.

 Economic Times

 Business India

 Business Standard

 The Times Of India

4. Product Manual, VOLTAS AC

67
 Thank You

------------------------------------x---------------------------------

68