A Management Thesis On

A Management Thesis ON “ANALYZING THE EFFECTIVENESS OF PROMOTION MIX OF LG (LIFE’S GOOD)”

BY Subhashish Mishra

A THESIS ON

TO ANALYSE THE EFFECTIVENESS OF PROMOTION MIX OF LG (LIFE’S GOOD)

By Subhashish Mishra (MBA 2008-10)

A report submitted in partial fulfillment of the requirements of THE MBA PROGRAMME (Class of 2010) Alphia institute of business management

INTRODUCTION

Good marketing is no accident, but a result of careful planning and execution. Marketing practices are continually being refined and reformed in virtually all industries to increase the chances of success. But marketing excellence is rare and difficult to achieve. Marketing is both an “art” and a “science” there is constant tension between the formulated side of marketing and the creative side. It is easier to learn the formulated side, which will occupy most of our attention in this project; but wii also describe how real creativity and passion operate in many companies. Marketing is a social and managerial process by which individuals and groups obtain what they need and what they want through creating, offering and exchanging products of value with others. Marketing is perhaps the most complex and challenging function performed by every business man. The term ‘marketing’ is very comprehensive one. Marketing thinking starts well before production commences and ends only after rendering after-sales satisfaction. It is the set of those activities necessary and incidental ton bring about exchange relationships.

It

encompasses the entire economic process by means of which goods and services are exchanged and their values are determined in monetary units. It is that phase of business activity through which human wants are satisfied by the exchange of goods and services. It is the skill of selecting and fulfilling consumer desires in such a way that a dose of money put in brings back maximum return. Definition of marketing is based on the following core concepts: need, wants and demands: value, cost and satisfaction: exchange: transaction: and relationship: markets: and marketing and marketers.

OBJECTIVE OF THE STUDY Human efforts should be like free flow of water. Before a action is executed a plan should be restored to.A research work should be linked with objective without which no work is fulfilled.

The objectives of the study is :✔ To identify the market share of LG electronics and other competitor.

✔ To keep awareness interest among the customer for different products related to LG Company. ✔

To identify the customer satisfaction level.

✔ To collect the feedback, recommendations from the customer about the product. ✔ To know how advertisement, sales promotion and personal selling affect the growth of the company.

SIGNIFICANCE OF THE STUDY Market promotion plays major role for the corporate growth a company promotion is one of the vital parts of the marketing mix. The other one product, place and price.The promotion contents four elements, which are advertising, sales promotion, personal selling and publicity. A company can achieve the tremendous market growth by the effective and efficient mix the above four promotional elements. Advertisement can be under taken not only for the creation of the demand but also for continuing the demand for the all type of products. The advertising strategy need to be fixed in such a way that it would right attract the target customer. It is said that, “doing business without advertising is like winking at a girl in the dark”. For consumer durable special products, advertising become vital which need to be formed properly so that it attracts the target audience. Sales promotion also plays a major role in case of these products. On spending a huge amount in sales in promotion a company can sell a large quantity at products during the peak season as well as during seasonal fluctuation. As the taken product is seasonal one sales promotion activity need to be stressed to enhance the overall corporate growth.

The third item of promotional mix is personal selling which requires a great importance in case of a special product and industrial product.

METHODOLOGY

The methodology adopted for this study was systematic and scientific. Taking into consideration various conditions and constraints, the information was collected on the basis of both primary and secondary sources of data. The data was collected by following the norms of the organization.

PRIMARY DATA: It has been collected data from different LG retail shop in the Bhubaneswar market by the help of the questionnaire format.

SECONDARY DATA: Secondary data were collected through company profile, literature available from the books, journals, charts and annual reports of the organization.

SCHEDULE ➢ Submission of Synopsis ➢ Interim Report

- 30th July

- 3rd August to 10th September

1.Literature Survey -

3rd August to 14th August.

2.Data Collection

- 14th August to 25th August.

3.Data Analysis

- 25th August to 10th September.

➢ Final Report

- 14th October to 21st October.

1. Evaluation of Data

– 14th October to 20th October

2. Submission of Final Report

– 21st October

LIMITATION This study was taken up through a set of questionnaire, personal interview and other secondary forms of data collection. Still few constraints were faced while carrying out the study. Some of them are as follows: ✔ Short span of time limited availability of resources. ✔ Most of the dealers and wholesaler do not agree for any interaction due to of their busy schedules.

BIBLIOGRAPHY 1. Fundamental of Marketing Management: William.J.Stanton 2. Marketing Management

: Philip Kotler

3. Marketing Management

: Jha & Singh

4. Advertising Procedure

: J.Thomas Russell & W.Roland Lane

5. Reference

: www.google.com