brand awareness of v guard fans by atul s raj

BRAND AWARENESS OF V-GUARD FANS

ATUL S RAJMBA, SNCTRC

INTRODUCTION• A gauge of marketing effectiveness measured by the

ability of a customer to recognize and/or recall a name, image or other mark associated with a particular brand.

• A brand awareness survey can reveal much about the strengths and weaknesses of the products, services, and the company itself

• Brand awareness – final purchase decisions• Brand awareness also spans the range of emotions or

perceptions associated with a company or product.

INTRODUCTION• What is the "top of mind" brand in the market?• What attributes do we "own" versus the attributes competitors own?• What are customer perceptions regarding the brand versus the

competition?• How did you hear of these brands? (With list)• Was what you heard on the above brands positive/negative/neutral?• Do you remember seeing any advertising for these brands? (With list)• Have you ever recommended any of these brands to others? (With list)• Which of these brands would you prefer to buy? (based on ranks

given)

INTRODUCTIONTHEORETICAL FRAMEWORK• Dr. Philip Kotler defines marketing as the science and art of exploring,

creating, and delivering value to satisfy the needs of a target market at a profit.

• The American Marketing Association (AMA) defines a Brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller and to differentiate them from those of other sellers.

• Brand Awareness is the extent to which a brand is recognized by potential customers, and is correctly associated with a particular product.

• Brand awareness is the primary goal of advertising in the early months or years of a product's introduction.

• Strong brand awareness leads to high sales and high market share.

INTRODUCTION• STATEMENT OF THE PROBLEM

OBJECTIVES OF THE STUDY• PRIMARY OBJECTIVES

1. To evaluate the Brand awareness of V-Guard Fans among the people in the potential market of Kollam district.

2. To understand what are the factors that affect the brand awareness

3. To find out the satisfaction level of existing customers.

OBJECTIVES OF THE STUDY• SECONDARY OBJECTIVES

1. To understand the brand perception of V-Guard fans among the customers and potential customers.

2. To find out the various competitors existing in the market.3. To find out the top of mind brand of fans among the people.4. To evaluate the current advertisement reach and effectiveness of V-Guard fans’

promotions.5. To check whether the existing customers recommend the V-Guard fans to others.6. To find out the reasons for dissatisfaction, if any.7. To know whether it is the best time to give full-fledged awareness measures

through advertisement.8. To give valuable recommendations to the company to improve their Brand Good-

Will.9. To give contact details of dissatisfied customers to the company to take

appropriate measures to replace the faulty fans of valuable customers, if viable.10. To undertake a brief market analysis of V-Guard Fans in Kollam district.

RESEARCH METHODOLOGY• TYPE OF STUDY• SAMPLING METHOD• TYPES OF DATA• METHODS OF COLLECTING DATA

1. Primary data• Questionnaire• Personal interaction – direct, online, telephone• Observation

2. Secondary data• Company website, • Internet, books and • Publications

RESEARCH METHODOLOGY• SAMPLE SIZE• SAMPLING TECHNIQUE• TOOLS USED • Chi-Square Method (χ2) • IBM SPSS Statistics 2011• MS OFFICE 2010

COMPANY PROFILE• One of the growing industrial houses in Kerala engaged in the

manufacturing and marketing of various electrical and electronic products.

• By Kochouseph Chittilappilly in 1977 – CEO & MD• The Cable manufacturing unit, Solar Water Heater unit and V-

Guard’s R&D Division of the Company are having certification of ISO 9001:2000 by DNV (Det Norske Veritas).

• Quality & 35 years of presence – all over India• Achieved a sales turnover of over Rs.700 crores for the financial

year ended March 31, 2011 which is more than 50% over the previous fiscal.

• Increased product variants, better distribution network, and improved brand recall levels were the factors for increase in the top line.

PRODUCTS• Products marketed under the brand name ‘V-GUARD’

are:• Electronic Voltage Stabilizers• Monobloc, Jet, Submersible pumps and Electric Motors.• Insulated Electrical Cables (House Wiring & Industrial)• Electric Storage & Instant Water Heaters• Solar Water Heaters.• UPS.• Electric Fans.• Generation of power through wind mills.

• Water level controllers, wall clocks, electric motor starters and Water purifiers, were discontinued recently.

V-GUARD’S COMPETITION• V-Guard compete with other manufacturers on the

basis of product range, product quality, product price, after sales service including factors, based on reputation, regional needs, and customer convenience.

STABILIZER• Vigil• Premier• V-Care• Shalimar• Everest• Safeguard

CABLE• Finolex• Polycab • Anchor

PUMP• KSB• Finolex• Crompton

Greaves• Kirloskar • Texmo

ELECTRIC WATER

HEATERS • Racold • Bajaj• Venus

SOLAR WATER

HEATERS • Tata BP

ELECTRIC FANS

• Crompton Greaves

• Havell’s• Bajaj• Khaitan• PolarUPS

• APC

ELECTRIC FANS• In 2006• Sourcing this product from small and medium manufacturers

without compromising on the quality norms before marketing it under the brand.

• Presently V-guard’s 22 models are competing with big players • Wilma STS, Chrommax Deluxe, Vee Magik Deluxe, • In 2010-11, the Company achieved a net sale of Rs. 53.00 crores,

which shows 107% growth over the net sale of Rs. 25.60 crores, recorded in the previous year

• Also carrying out continuous R & D activities in its pilot production unit located at Kala Amb

• Also proposed to introduce industrial exhaust fans to meet the requirement of industry in the coming years

TYPES OF ELECTRIC FANS

INDUSTRY PROFILEGLOBAL SCENARIO 1860’s – 1870’s in United States – Water turbine Electrically powered ceiling fan was invented in 1882 by Philip Diehl In the 1960s some East Asian manufacturers started exporting ceiling

fans In winter, ceiling fan is set to turn the opposite direction Commercial or industrial ceiling fans, Indoor or Outdoor ceiling fans, Americas, Asia, Africa, Europe, Australia Casablanca, Craftmade, Ellington, Emerson, Fanimation, Hunter,

Montecarlo African countries, Bahrain, Muscat – stabilizers, cables, solar water

heaters The Company is yet to venture into export market.

INDUSTRY PROFILEINDIAN SCENARIO With impressive growth in major sectors like agriculture, manufacturing,

services, automobiles and realty, the country’s GDP rate has grown by 8.5% during the fiscal 2010-11.

India is a tropical country and thus fans are necessary. Therefore the Fan industry in India is well-established

The Indian market is estimated at 2.5 million fans per month and it is growing at about 10% per annum.

The fan industry has taken significant steps to ensure consumer satisfaction and leading brands not only provide good quality but also back this up with good after sales service.

Indian Fan Manufacturers' Association – Bajaj, Polar, Crompton, Havell’s, The jay engineering works, Khaitan, Usha, Metro Ortem, Orient

INDUSTRY PROFILESTATE SCENARIO• Crompton Greaves, Usha, Khaitan, Orient, Havell’s, GEC, Rallifan,

unbranded local fans • Development of the state in different areas can help the company

establish its prospects

DATA ANALYSIS & INTERPRETATION

Yes; 32

No; 58

Have you heard about V-Guard Fans?

YesNo

36%

64%


Retailers17%

Friends/ Relatives / Hotels/ Offices32%

Magazines/ Newspapers28%

Billboards/ Hoardings/ Wall

posters11%

Do not remember13%

Where have you heard about this?

Retailers Friends/ Relatives / Hotels/ Offices Magazines/ NewspapersBillboards/ Hoardings/ Wall posters Do not remember


TV Ads Newspaper/ Magazines Hoardings/ Billboards/ Wall posters

Total0

10

20

30

40

50

60

70

80

90

0

13

5

18

90

77

85

72

YesNo

Type of ads

Freq

uenc

y


11%

89%

Percentage analysis of V-Guard Fan users

YesNo


Frequency

0 1 2 3 4 5 6 7

Satisfaction level of customers of V-Guard fans

Highly dissatisfiedSlightly dissatisfiedSatisfiedHighly satisfied


Fan s

peed

beco

me low

Stop f

uncti

oning

Delay in

repla

cemen

t

Capaci

tor pr

oblem

Paint p

eel off

Poor o

utsourc

ing

Very poo

r servi

ce- cl

aiming c

ost with

in warr

anty

perio

d

Cup was

not sui

ting i

nitial

ly

Noise du

e to bear

ings

01234567

Reasons for dissatisfaction

Fan speed become lowStop functioningDelay in replacementCapacitor problemPaint peel offPoor outsourcingVery poor service- claiming cost within warranty periodCup was not suiting initiallyNoise due to bearings

Feedback

Freq

uenc

y


0 1 2 3 4 5 6 7 8 9

Will you recommend this fans to others?

NoYes

Will

you

rec

omm

end

this

pro

duct

to o

ther

s?


Different brand of fans used by the customers at Kollam Dist.

0

50

100

150

200

250

Competitors in the Fan industry

CromptonUshaBajajKhaitanOrientV-GuardLocal fansRalleyAlmonaroHavell's


Usha Crompton Khaitan V-Guard Bajaj Havell's Orient Ralley Almonaro0

2

4

6

8

10

12

14

16

18

20

Top of mind brands

Rank 7Rank 6Rank 5Rank 4Rank 3Rank 2Rank 1


ExcellentGood

Not satisfactoryNot sure

0

10

20

30

40

50

60

Opinion about V-Guard brand

Brand ImageQualityDurabilityPriceAvailabilityAftersales service

FINDINGS• The overall opinion about V-Guard brand and its founder Kochouseph Chitilappilly

is outstanding.• Most of the users who bought V-Guard fans before 2 or 3 years are highly

dissatisfied.• 20 persons responded that they are aware of V-Guard’s ceiling fans and a few are

aware of wall fans, pedestal fans, exhaust fans and table fans and none are aware of the brand new hi-tech fans like ‘Star Gale Deluxe’ model with advanced features such as temperature sensor and oval oscillation, ‘Vee Magik Deluxe` model with mosquito repellent and Negative Ion feature, etc.

• Only 38% of the people who know about V-Guard fans came to know about it through advertisements.

• 41% of users have dissatisfaction about the V-Guard fans • Even the dissatisfied customers of fans have very good opinion about V-Guard

Company and its managing director. Their opinion is the company may lose their goodwill due to the problems in fans.

• Company policies recommend company not to give promotional activities of ads of fans as of now.

• Hi-tech fans are not easily available till now.

FINDINGS• Except one, all are aware of V-Guard’s logo• 15 out of 18 respondents wish to buy V-Guard fans.• 92% of respondents are using other product of V-Guard• The top branded fans which caused dissatisfaction among the users are V-Guard and

Havell’s. • 73% of respondents have an opinion of V-Guard as a common man’s brand as well as a

reliable brand. 8% says it’s socially responsible. • Proper awareness measures and services can easily attract the market because of strong

brand equity, brand loyalty and brand image. • V-Guard fans also share the top of the mind brand of fans in the market• 5 out of 9 respondents said they get the value they expected from V-Guard by using its

fans. • The dealers Gemini Traders and Darshana Traders have opinion as the price structure is

very attractive. • Chi – Square (χ2) method shows that there is a significant relationship between

‘advertisement reach’ and brand awareness of V-Guard fans and between brand awareness of V-Guard and brand awareness of V-Guard Fans.

SUGGESTIONS• Proper awareness measures have to be taken in order to increase awareness from

36% to 100% and it will help increase sales. • Introduction of theme music will definitely attract the market.• The negative impact caused by the dissatisfaction of users will adversely affect the

goodwill of the company. The contact details of customers who are dissatisfied are given under the heading of reasons of dissatisfaction in page 61.

• Dealers of other products of V-Guard also may be informed about the quality of newly developed

• A separate task group to handle the dissatisfaction of customers as well as dealers may be formed at least for a temporary basis.

• It is high time that V-Guard should concentrate on after sale services of the fans.• The most important factors the consumers find attractive about the top of the

mind brands like Usha, Crompton, Bajaj etc. are its brand image as well as durability of the brand. So brand building as well as quality assurance are the key factors that V-Guard should focus now to compete in the market.

CONCLUSION• In pursuance of diversified business goals, company is investing more on

fans. Study shows a low level of awareness of fans. • All the objectives of the project are fulfilled and certain inferences are

derived out. • The survey also sheds light on the quantifiable level of dissatisfaction among

the customers who purchased V-Guard fans before two years i.e. 2 or 3 years after the initial launch of fans in 2006.

• I found that V-guard marketing department sent its representatives directly to the dissatisfied customers based on the contact details given by me in page 61 of my project report and their fans were either replaced or been repaired for free.

• It was a wonderful experience for me to take a detailed survey about V-Guard fans in my native place and it gives me immense pleasure to do my part for the socially responsible company keralites always trust and I wish V-Guard all the success in its endeavours.

Thank you

brand awareness of v guard fans by atul s raj

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