consumer perception towards different tv brands in bangladesh

3.1 Sample

3.1.1Target Sample

Target population will be the user of four different brand television users, whose past buying belief will be help to determine the perception towards television brands.

3.1.2 Sample Size

Sample size for the survey will be 20 respondents. Majority of them are students of university level. The questioner will mainly reflect the thinking of people regarding four well known television sets available in Bangladesh.

3.1.3 Sampling process

As sampling process mainly the Simple random Sampling Process has been used. Where each element in the population has a known and equal probability of selection. Every element is selected independently of every other element and sample is drowning by a random sampling frame.

3.2 Expectancy Value Model

The consumer arrives at attributes toward various brands through an attribute evaluation procedure. The expectancy value model of Perception formation posits that consumers evaluate products and services by combining their brand beliefs-the positives and negatives according to importance.

Original Fishbein Model

Where,

Ao = Perception toward the object (brand)bi = belief about the brand’s possession of the attribute ei = evaluation of the attribute n = there are a limited number (n) of attributes.

3.3 Attributes

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3.3.1 Selected weight and attributes

To get clear findings on consumer perception towards television set brands, we have targeted four competitive TV brands well known in Bangladesh. They are-

Sony Samsung LG Toshiba

The attributes considered here are:

Durability/service Picture quality Sound quality Shape/design Price

3.3.1.1 Durability

CRT rear projection televisions have been around for a long time, but LCD, DLP and LCoS are relatively new. Still, durability should never be an issue with any television if a manufacturer wants to stay in business. While all models have fragile features, expect them to last 15-20 years with normal use.

.3.3.1.2 Picture quality

Consumers want to get highest utility from a brand, which they purchase by sacrificing money and benefit from other competitive brands. Picture quality of the brand is one of the most important factors that a customer values in times of choosing one brand. Companies fight very competitively here, however consumers are most of the case unaware of how to measure a best picture quality.

The image looks better the faster the screen can refresh itself. Refresh rates of televisions and other types of video displayed are measured in "hz" (Hertz). For example: A Television with a 60hz refresh rate represents complete reconstruction of the screen image 60 times every second. As a result, this also means that each video frame (in a 30 frame per second signal) is repeated twice every 60th of a second. By looking at the math, one can easily figure out how other frames rates related to other refresh rates

3.3.1.3 Sound quality

Until rather recently in television far more attention was paid to video than to audio. "Good sound" was when you could make out what was being said; "bad sound" was when you couldn't.

This has changed. With the advent of stereo, 5.1 surround-sound, and home theaters, audiences have much greater expectations. Before we can discuss some of the basic audio

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production concepts, sound, itself, must be understood. Sound has two basic characteristics that must be controlled: loudness and frequency.

Equipment and listening conditions also greatly affect how different frequencies will be perceived. To compensate for some of these problems, we can adjust bass and treble controls of playback equipment.

More sophisticated equipment will include a graphic equalizer, which goes a step further and allows specific bands of frequencies to be individually adjusted for loudness.

3.3.1.4 Shape/Design:

No doubt, picture quality, sound quality and durability has important role in taking decision to choose a particular brand. But, before considering all these features, most of the time consumers are at first attracted to any particular brand considering its design and outlook. If design and outlook of the brand is attracting the consumer, then they goes for detail analysis of the products features.

3.3.1.5 Price

In general terms price is a component of an exchange or transaction that takes place between two parties and refers to what must be given up by one party (i.e., buyer) in order to obtain something offered by another party (i.e., seller). Yet this view of price provides a somewhat limited explanation of what price means to participants in the transaction. In fact, price means different things to different participants in an exchange:

Buyers’ View – For those making a purchase, such as final customers, price refers to what must be given up to obtain benefits. In most cases what is given up is financial consideration (e.g., money) in exchange for acquiring access to a good or service.

Sellers’ View - To sellers in a transaction, price reflects the revenue generated for each product sold and, thus, is an important factor in determining profit. For marketing organizations price also serves as a marketing tool and is a key element in marketing promotions.

3.4 Market Share Analysis

Colour television is the biggest segment of the Tk 1,330 crore electronics market, with 15 percent annual growth, according to industry sources. Around 400,000 television sets worth Tk. 440 crore were sold last year.

Among the television brands, Chinese Konka is the top player with 21 percent market share, followed by TCL with 18 percent, Singer with 12 percent, LG with 11.25 percent and Samsung with 10 percent. However, as per Rangs Electronics Limited, they have alone 35% market share of the color TV market.

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Since there is no reliable data showing accurate market share, here is a market share analysis of the U.S market for our convenience and information purpose only:

Top six U.S flat-panel television brands in the fourth quarter of 2009(Ranking by unit shipments in thousand)Q4’ 09 Rank

Brand Q3’ 09 unit shipments

Q3’ 09 Market share

Q’4 09 unit shipments

Q4’09 Market Share

Q4’09 sequential percentage growth

1 Samsung 1,542 17.2% 2,095 18.5% 35.8%2 Vizio 1,235 13.8% 1,844 16.3% 49.4%3 Sony 611 6.8% 1,318 11.6% 115.6%4 LG 792 8.9% 912 8.0% 15.1%5 Toshiba 612 6.8% 708 6.3% 15.7%6 Panasonic 822 9.2% 657 5.8% -20.1%

Others 3,333 37.3% 3,797 33.5% 13.9%Total 8,948 100% 11,331 100% 26.6%

3.5 Calculation using Fishbein Model

After conducting survey we got all the evaluations of 20 samples. Then we use Fishbein Perception model to identify the Perception towards any operator.

3.5.1 Calculation of ei:

Respondents were asked to rate their opinion on a scale of 1-5 based on how strongly they agree or disagree with each of the statements stated on the questionnaire, where evaluating points are valued like this –

Strongly Agree

Agree Neutral Disagree Strongly Disagree

5 4 3 2 1

Formula for ei = Summation of the evaluation points rated by the respondents for each attribute (∑ei) / No. of total respondents or sample size. Basically ei for each attribute is the average of evaluation points rated by the respondents.

Total no. of Respondents: 20

1. Durability/Service life:

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Sony: Total: 97Average: (97/20) = 4.85

Samsung: Total: 91Average: (91/20) = 4.55

LG: Total: 82Average: (82/20) = 4.1

Toshiba: Total: 85Average: (85/38) = 4.25

2. Picture/Image quality





3. Sound quality



LG: Total: 81Average: (81/20) = 4.05


4. Shape/Design



LG: Total: 83Average: (83/20) = 4.15


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5. Price





3.5.2 Determining bi (Belief Strength):

Measuring belief is required to assign weights to the attributes according to the corresponding importance of the attributes that are being evaluated. That means some attributes are important and some are comparatively less important. For assigning weights we adopted completely judgmental procedure that our group members collectively decided and agreed upon the distribution of weights to each of the attributes based on our combined judgment. We did not take any feedback from the respondents for the measurement of belief and no calculation was needed for determining the weights, it was completely based on our collective judgment.

Attributes Weights (belief strengths) bi

Durability/Service life 3.5Picture/Image quality 2.5

Sound quality 0.5Shape/Design 1.5

Price 2.0Total 10

Calculating Attribute-Attitude (bi X ei)

Formula for Attribute-Attitude = bi X ei which indicates attitude of a single attribute relative to assigned weight to it.

Calculating A0 (Multi Attribute-Attitude)

In this project we used the formula of the Fishbein Model to calculate multi attribute- attitude, which is the overall attitude towards the product. The Fishbein Attitude Model is:

3.5.3 Data analysis

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Among the 20 respondents, they put their weight among the 4 different companies as per the below table:

1. Durability/Service life:

Sl Name of the Companies

Total Perception

Average Perception(Total Perception/ No of

Respondents)1 Sony 97 4.85

2 Samsung 91 4.553 LG 82 4.14 Toshiba 85 4.25

Average Perception

3.6

3.8

4

4.2

4.4

4.6

4.8

5


Series1

Results: From the above table as well as from the bar chart it is clearly understood that, Sony TV scored the highest 4.85 whereas the second highest is Samsung which scored 4.55. And the rest LG and Toshiba scored 4.1 and 4.25 respectively in terms of “Durability/Service life”. So, LG scored lowest in this criteria.

2. Picture/Image quality :


Total Perception Average Perception(Total Perception/ No of


2 Samsung 95 4.75

3 LG 76 3.8

4 Toshiba 79 3.95

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Average Perception

00.51

1.52

2.5

33.54

4.55


Series1

Result: From the above table as well as from the bar chart it is found that, the deviation of the picture quality of different brands is not much. However, Samsung scored highest with average of 4.75 and LG though close to Toshiba scored the lowest.

3. Sound quality:


Total Perception

Average Perception(Total Perception/ No of


2 Samsung 83 4.153 LG 81 4.054 Toshiba 88 4.4

Average Perception

3.8

3.9

4

4.1

4.2

4.3

4.4

4.5

4.6


Series1

Result: From the above table as well as from the line diagram it is clearly understood that, all of the brands scored above 4.0. This indicated that, either all the brands are offering almost similar sound quality or consumers fail to distinguish this feature from the brands. However, Sony and Toshiba positioned the first and second in this criteria.

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4. Shape/Design:




2 Samsung 90 4.5

3 LG 83 4.15

4 Toshiba 84 4.2

Average Perception

3.9

4

4.1

4.2

4.3

4.4

4.5

4.6


Series1

Result: From the above table as well as from the diagram it is clearly understood that, Sony scored the highest with average of 4.55 and Samsung scored 4.5. Toshiba scored 4.2 holding third position where as LG scored lowest.

5. Price:



Respondents)1 Sony 57 2.852 Samsung 46 2.33 LG 84 4.24 Toshiba 57 2.85

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Average Perception

2.85

2.3

4.2

2.85Sony

Samsung

LG

Toshiba

Result: If we analyze the pie chart and the table it is clear that consumer’s perception towards the price of different brands is more in favor of the brand LG. LG scored highest meaning that consumers perceive a low price of the product compared to other brands.

3.6 Combination Results

In this project we used the formula of the Fishbein Model to calculate multi attribute- attitude, which is the overall attitude towards the product. The Fishbein Attitude Model is:

Where,

bi signifies consumers beliefs towards a brand & ei signifies evaluating the attributes

If we combine the evaluating factors & the belief factor, then we can determine the desirable products can be consumed. By comparing statement, we can analyze that; the highest scoring brand shall get the most preference in choosing comparative to others. The below table clearly demonstrates the combined & overall view.

Sony:

= (3.5 * 4.85) + (2.5 * 4.65) + (0.5 * 4.5) + (1.5 * 4.55) + (2.0 * 2.85) = 43.375

Samsung

= (3.5 * 4.55) + (2.5 * 4.75) + (0.5 * 4.15) + (1.5 * 4.5) + (2.0 * 2.3) = 41.225

LG

= (3.5 * 4.1) + (2.5 * 3.8) + (0.5 * 4.05) + (1.5 * 4.15) + (2.0 * 4.2) = 40.50

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Toshiba

= (3.5 * 4.25) + (2.5 * 3.95) + (0.5 * 4.4) + (1.5 * 4.2) + (2.0 * 2.85) = 38.95

According to our calculation, the ranking of total Perception of different TV brands is as follows:

Sl Company Total Perception

1 Sony 43.375

2 Samsung 41.225

3 LG 40.50

4 Toshiba 38.95

Average Perception

43.375

41.22540.5

38.95

Sony

Samsung

LG

Toshiba

FIG: TOTAL ATTRIBUTES

From the above graph we can see that Sony TV has the overall maximum attitude with 43.375 points and ranked 1st among the four well known TV brands in this country. From the Fishbein model we can easily predict that any in person in Bangladesh will favor Sony Television, which has the highest perceived value. Whereas Samsung has secured the second position with an overall attitude points of 41.225 and LG has got the third position with 40.50 points. Toshiba obtained lowest total attitude and thus ranked last although it has beaten LG in almost all criteria except pricing.

4.0 Analysis of Strength and Weakness and Recommendation

SWOT analysis means analyzing the strengths, weakness, opportunities and threats of the

organization to know the present condition. This is very common analysis to determine

the company’s capabilities of doing effective business. This help to know the possible

advantages and disadvantages of the firm that it has to compare to others .The SWOT

analysis are briefly given in the below:

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Here strength and weakness comes from the internal environment and threats & opportunity comes from external environment. In this project we only have focus on Strength and Weakness. To identify the strength and weakness we totally depend on our conducted survey.

From our collected survey data we can identify the core strengths and weaknesses of the different TV brands to effectively evaluate them and recommend strategies for the improvement of their present situation.

SONY

Strengths:

Durability of the product is up to expectation level. Picture/image quality of the brand is high. Sound quality is also very good.

Weaknesses:

Price of the product is little high compared to other products

Recommendations:

The most important thing that creates satisfaction level high & purchase of same product

repeatedly is when the product shall be able to provide satisfaction beyond its expectation

level. Sony is providing highest value to the consumers however the price of the product

is perceived a bit high compared to other competitors. So, if Sony can offer products at a

reduced price or can offer customized product for low cost users, it has great chance to

grab majority share of the color television market.

Samsung

Strengths:

Picture quality is perceived best among the other brands. Sound quality is very good. The product is durable as perceived by the consumers.

Weaknesses:

Price of the product is high as perceived by the consumers.

Strength

Weakness

Opportunity

Threats

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Recommendations:

Though Samsung scored second highest but it has great scope to be the market leader. If we critically analyze the attributions that the consumers evaluated, we can find that Samsung is very close to its nearest competitor SONY in almost all the features. It has also scored highest in perceiving the picture quality. So, if Samsung can reduce its price and can increase its sound quality it can also grab more market share and multiply its sale. LG

Strengths:

Consumer’s perception towards price of LG product is favorable. LG also scored above 4.0 in the scale of 5.0 in durability, sound quality, design.

Weaknesses:

Picture quality is not very good compared to other competitors.

Recommendations:

LG has good opportunity to expand its market share since it has shown favorable consumer perception towards almost all of the attributions. Moreover, they have scored highest in perceived price of the product assuring that the brand is very much affordable to the customers. The only thing is to do is, they need to increase their picture quality, sound quality and let the consumers know it through proper communication and advertisement.

Toshiba

Strengths:

The product is durable Sound quality is very good compared to other competitors Design of the product is also attractive.

Weaknesses:

Price is high. Picture quality is not perceived high compared to top leader.

Recommendations:

Toshiba though a world class product, consumers perception in the local market may not be perceived well due to lack of advertisement and communication. However, they have scored favorable points in durability, sound quality and design. Consumer’s perception is not good towards the picture quality and price of the product. However, through proper advertisement and communication to the consumers, the actual value may be communicated and sale can be multiplied. Simultaneously they need to keep a reduced or promotional price to grab market share.

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5.0 Conclusion:

From the above discussion we can identify the market leader, market challenger, market follower, and market Nicher from the different television brands. According to our findings we can easily conclude that SONY TV is in market leader position because they absorb highest total perception among other brands. Where as SAMSUNG is in market challenger position because they also has a strong consumer perception holding a total perception of 41.225 where as SONY is 43.375. LG is also close to other competitors holding total perception of 40.50. Toshiba has more scope to grab market share since they are scoring low compared to other competitors.

It is obvious and frequently happens that, when we want to consume a product automatically we become confuse of determining in choosing the same product from multiple of brands. To avoid the unavoidable circumstances Fishbine Model best in choosing the best product & helps in avoiding confusion. Consumers perception on different television brands evaluation process were tested using some independent variables like Durability, picture quality, sound quality, design and price of the products. The research measures the effect of the mentioned attributes and factors on how individuals subjectively evaluate a brand. The result has shown that, durability and picture quality has high preference. At the same time price of the product and design is very much vital.

Bibliography:Bibliography:

1. Marketing Management 11th Edition- Philip Kottler & Kavin Lane Keller

http://www.epinions.com/reviews/pr-

Sony_FD_Trinitron_WEGA_KV_32HS420__Standard_Televisions

http://www.list-of-companies.org/Bangladesh/Consumer_Electronics/Television/

http://www.boi.gov.bd/key-sectors/electronics

http://bangladesheconomy.wordpress.com/category/domestic-applianceshome-

electronics/

newspaper article

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http://www.boi.gov.bd/key-sectors/electronics

http://www.list-of-companies.org/Bangladesh/Consumer_Electronics/Television/

http://www.epinions.com/reviews/pr-Sony_FD_Trinitron_WEGA_KV_32HS420__Standard_Televisions

http://www.epinions.com/reviews/pr-Sony_FD_Trinitron_WEGA_KV_32HS420__Standard_Televisions

QUESTIONNAIRE ON CONSUMER PERCEPTION TOWARDS DIFFERENT TV BRANDS IN BANGLADESH

Conducted by- Students of MKT-501, Sec-01, EWU

[We are conducting a survey on “Consumer perception towards different television brands” purely for academic purpose. You have been selected randomly. We highly value your opinion and would like to ask you few questions. Your information will be maintained strictly confidential.]

The Question of the Survey on Television brands in

Bangladesh:

NB: Please mark (Ο) the number, which you prefer best.

1. The durability/service life of the brand is very long lasting:

TV Brands Strongly Agree


Sony 5 4 3 2 1Samsung 5 4 3 2 1

LG 5 4 3 2 1Toshiba 5 4 3 2 1

2. The picture quality of the brand is very nice/lively:



Sony 5 4 3 2 1Samsung 5 4 3 2 1

LG 5 4 3 2 1Toshiba 5 4 3 2 1

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3. The sound quality of the TV is very good:



Sony 5 4 3 2 1Samsung 5 4 3 2 1

LG 5 4 3 2 1Toshiba 5 4 3 2 1

4. The shape/design of the TV is very attractive:



Sony 5 4 3 2 1Samsung 5 4 3 2 1

LG 5 4 3 2 1Toshiba 5 4 3 2 1

5. The price of the Television brand is very cheap:



Sony 5 4 3 2 1Samsung 5 4 3 2 1

LG 5 4 3 2 1Toshiba 5 4 3 2 1

Signature of the surveyorDate:

Thank you for your cooperation

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consumer perception towards different tv brands in bangladesh

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