CHAPTER I - INTRODUCTION

Koninklijke Philips N.V. is a Dutch diversified technology company headquartered in Amsterdam with primary divisions focused in the areas of Healthcare, Consumer Lifestyle and Lighting. It was founded in Eindhoven 1891 by Gerard Philips and his father Frederik. It is one of the largest electronics companies in the world and employs around 122,000 people across more than 60 countries.

Philips is organized into three main divisions: Philips Consumer Lifestyle (formerly Philips Consumer Electronics and Philips Domestic Appliances and Personal Care), Philips Healthcare (formerly Philips Medical Systems) and Philips Lighting. As of 2012 Philips was the largest manufacturer of lighting in the world measured by applicable revenues. In 2013, the company announced the sale of the bulk of its remaining consumer electronics operations to Japan's Funai Electric Co. but in October 2013, the deal to Funai Electric Co was broken off and the consumer electronics operations remain under Philips. Philips said it would seek damages for breach of contract in the $200-million sale.

Philips has a primary listing on the Euronext Amsterdam stock exchange and is a constituent of the AEX index. It has a secondary listing on the New York Stock Exchange.

The Philips Company was founded in 1891 by Gerard Philips and his father Frederik. Frederik, a banker based in Zaltbommel, financed the purchase and setup of a modest, empty factory building in Eindhoven, where the company started the production of carbon-filament lamps and other electro-technical products in 1892. This first factory has been adapted and is used as a museum.

In 1895, after a difficult first few years and near bankruptcy, the Philipses brought in Anton, Gerard's younger brother by sixteen years. Though he had earned a degree in engineering, Anton started work as a sales representative; soon, however, he began to contribute many important business ideas. With Anton's arrival, the family business began to expand rapidly, resulting in the founding of Philips Metaalgloeilamp fabriek N.V. (Philips Metal Filament Lamp Factory Ltd.) in Eindhoven in 1907, followed in 1912 by the foundation of Philips Gloeilampenfabrieken N.V. (Philips Lightbulb Factories Ltd.). After Gerard and Anton Philips changed their family business by founding the Philips corporation, they laid the foundations for the later electronics multinational.

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Progress of the company over the years

After the war the company was moved back to the Netherlands, with their headquarters in Eindhoven. Many secret research facilities had been locked and successfully hidden from the invaders, which allowed the company to get up to speed again quickly after the war.

In 1949, the company began selling television sets. In 1950, it formed Philips Records.

Philips introduced the audio Compact Audio Cassette tape in 1963, and it was wildly successful. Compact cassettes were initially used for dictation machines for office typing stenographers and professional journalists. As their sound quality improved, cassettes would also be used to record sound and became the second mass media alongside vinyl records used to sell recorded music.

Philips introduced the first combination portable radio and cassette recorder, which was marketed as the "radiorecorder", and is now better known as the boom box. Later, the cassette was used in telephone answering machines, including a special form of cassette where the tape was wound on an endless loop. The C-cassette was used as the first mass storage device for early personal computers in the 1970s and 1980s. Philips reduced the cassette size for the professional needs with the Mini-Cassette, although it would not be as successful as the Olympus Microcassette. This became the predominant dictation medium up to the advent of fully digital dictation machines.

In 2004, Philips abandoned the slogan "Let's make things better" in favour of a new one: "Sense and simplicity".

In December 2005 Philips announced its intention to sell or demerge its semiconductor division. On 1 September 2006, it was announced in Berlin that the name of the new company formed by the division would be NXP Semiconductors. On 2 August 2006, Philips completed an agreement to sell a controlling 80.1% stake in NXP Semiconductors to a consortium of private equity investors consisting of Kohlberg Kravis Roberts & Co. (KKR), Silver Lake Partners and Alp Invest Partners. On 21 August 2006, Bain Capital and Apax Partners announced that they had signed definitive commitments to join the acquiring consortium, a process which was completed on 1 October 2006. In 2006 Philips bought out the company Lifeline Systems headquartered in Framingham, Massachusetts.

In August 2007 Philips acquired the company Ximis, Inc. headquartered in El Paso, Texas for their Medical Informatics Division. In October 2007, it purchased a Moore Microprocessor Patent (MPP) Portfolio license from The TPL Group.

On 21 December 2007 Philips and Respironics, Inc. announced a definitive agreement pursuant to which Philips acquired all of the outstanding shares of Respironics for US$66 per share, or a total purchase price of approximately €3.6 billion (US$5.1 billion) in cash.

On 21 February 2008 Philips completed the acquisition of VISICU Baltimore, Maryland through the merger of its indirect wholly owned subsidiary into VISICU. As a result of that merger, VISICU has become an indirect wholly owned subsidiary of Philips. VISICU was

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the creator of the eICU concept of the use of Telemedicine from a centralized facility to monitor and care for ICU patients.

Acquisitions

The Philips physics laboratory was scaled down in the early 21st century, as the company ceased trying to be innovative in consumer electronics through fundamental research.

In January 2011 Philips agreed to acquire the assets of Preethi, a leading India-based kitchen appliances company.

Due to the fact that net profit slumped 85 percent in Q3 2011, Philips announced a cut of 4,500 jobs to match part of an €800 million ($1.1 billion) cost-cutting scheme to boost profits and meet its financial target.

In March 2012 Philips announced its intention to sell, or demerge its television manufacturing operations to TPV Technology.

In 2011, the company posted a loss of €1.3 billion, but earned a net profit in Q1 and Q2 2012, however the management wanted €1.1 billion cost-cutting which was an increase from €800 million and may cut another 2,200 jobs until end of 2014.

On 5 December 2012, the antitrust regulators of the European Union fined Philips and several other major companies for fixing prices of TV cathode-ray tubes in two cartels lasting nearly a decade.

On 29 January 2013, it was announced that Philips had agreed to sell its audio and video operations to the Japan-based Funai Electric for €150 million, with the audio business planned to transfer to Funai in the latter half of 2013, and the video business in 2017. As part of the transaction, Funai paid a regular licensing fee to Philips for the use of the Philips brand. The purchase agreement was terminated by Philips in October because of breach of contract.

On November 13, 2013 Philips unveiled its new brand line “Innovation and You” and a new design of its shield mark. The new brand positioning is cited by Philips to signify company’s evolution and emphasize that innovation is only meaningful if it is based on an understanding of people’s needs and desires.

On April 28, 2014 Philips agreed to sell their Woox Innovations subsidiary (consumer electronics) to Gibson Brands for $US135 million.

On September 23, 2014, Philips announced a plan to split the company into two, separating the lighting business from the healthcare and consumer lifestyle divisions.

In Feb, 2015, Philips acquires Volcano Corporation to strengthen its position in non-invasive surgery and imaging.

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CHAPTER II – RESEARCH METHODOLOGY

A. WHAT IS RESEARCH METHODOLOGY?

The process used to collect information and data for the purpose of making business decisions. The methodology may include publication research, interviews, surveys and other research techniques, and could include both present and historical information.

Research Methodology is a way to find out the result of a given problem on a specific matter or problem that is also referred as research problem. In Methodology, researcher uses different criteria for solving/searching the given research problem. Different sources use different type of methods for solving the problem. If we think about the word “Methodology”, it is the way of searching or solving the research problem.

B. TYPE OF RESEARCH

It is a Qualitative type of research which is based on a SURVEY conducted. Survey Method of data collection is used in order to accomplish the research objectivesA well-structured and closed ended questionnaire was used for data collection from the respondents.

C. OBJECTIVES OF THE STUDY

To achieve the goal of the study, the following research questionnaire addressed as primary research objectives :

1. To know about the standing of Philips in the electronics goods market.2. To determine what are the major driving forces for the particular brand.3. To know if the Philips Air-Fryer is accepted by the audience.

D. HYPOTHESIS

The marketing of Philips Air Fryer is a success. The Air Fryer has been well accepted in the market.

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E. TYPES OF DATA

Both primary data and secondary data were used for this study

F. SOURCES OF DATA

Primary data have been collected with the help of structured questionnaire by respondent field survey method. Information was collected from students above 18 years of age and working professionals from Mumbai by medium of questionnaires.

Secondary Data was collected from the internet, articles and journals.

G. SAMPLE SIZE Sample size consists of 50 people between the age group of 18 to 50 selected at random

from Mumbai.

H. TECHNIQUE OF DATA COLLECTION

Technique of Data collection for this survey was a basic technique. The primary data collected from respondents was by way of survey method and secondary data was through the internet, journals and articles.

I. TECHNIQUE OF DATA ANALYSIS The data collected was analyzed by using quantitative and qualitative techniques. Basic

excel functions i.e. filtering, sorting and excel calculations, along with, mathematical and statistical calculations were used. Graphs, Pie Charts and Tabular representation of statistics were used in order simplify analysis of data.

J. REVIEW OF LITERATURE

The Kitchen Appliance market in India is a huge one. It is also present since many years. It is growing at a fast pace and it is only going to get bigger. Many MNC’s are in this business and are enjoying super normal profits year in and year out. More and more local players are also coming into the scene off late joining the bandwagon.

Innovation is the X-factor required in this industry. Companies like Philips and kenstar which have been part of this industry and are market leaders have constantly focused on innovations and have come out victorious.

 Ask an Indian anywhere in the world and he would still want to have his samosa or tikki or a vada pav. Indian cuisine is mostly oily, as many Indian dishes require one to fry the masala (the spice paste that forms the base of the dish) in some oil. The popular belief is that the more oil one uses to fry the masala, the better the taste.

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Edible oil is an important source of fat in the Indian diet. Fat, though it provides energy, is also a health hazard. So, does that mean Indians are less concerned about their health?

Fat's in the fire

Not really, and according to Philips, most urban Indians are treating themselves to less oily food. To help them, the company - in 2012 - had launched the Philips AirFryer that uses rapid air technology to deliver fried food that contains up to 80 per cent less fat.

Recently, the company came out with a TV campaign to position the AirFryer as an innovative gadget for the evolved, health-conscious consumer. The new ad film, crafted by Ogilvy and Mather, positions the AirFryer as a revolutionary gadget that fries tasty, yet healthy Indian food.

The advertisement showcases Aloo Tikki being made in 80 per cent less oil in the Philips AirFryer. It features a fun couple, where the husband volunteers to prepare the evening snack - Aloo Tikki. However, he fails to spot the tiny bottle of oil that has now replaced a large oil container that is usually found in most Indian homes. Insisting that there is no oil container in the kitchen, he loses a fun bet to his wife and agrees to prepare the snacks every evening.

The product targets the new age, evolved and informed consumer who wants to stay fit and healthy. According to Philips, the consumers for this product are conscious about their health and wellbeing, but love to indulge in delicious fried snacks regularly.

Speaking to afaqs! about the insight that led to the development of the product, Gulbahar Taurani, head of domestic appliances, Philips India, says, "We had launched this product overseas at first, but unlike the people in the west, who would agree to sacrifice taste for health, Indians prefer to have both. So, we went to Indian consumers with this product and asked them to try it out."

As is true with all technology products, the early adopters always are the urban trendsetters and it was the same with the AirFryer as well. Since its launch in India, the product has found takers among residents, mostly couples in metros and Tier I cities. And the company intends to continue them as the target audience during the category creation stage. "The AirFryer is the perfect gadget for the modern kitchen and lifestyle," says Taurani.

No smoke, all fire

Taurani may be right but the same modern Indian kitchen also houses a device called the microwave. So how do these two products differentiate themselves while they share the same kitchen?

According to Taurani, microwaves, unlike the AirFryer, are not made to soak the extra oil from the food. "Most consumers also have the same question for the AirFryer but that's common when one is trying to create the category," he adds. Besides, there is another concern about the amount of space the AirFryer takes in an urban kitchen today. The microwave fits well in the kitchen shelf and takes up less space.

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Taurani specifies that AirFryer doesn't emit smoke and hence can be placed in dining spaces too. Moreover, since many urban Indians are now opting for modular kitchens, space won't be a problem because the consumers can plan for it beforehand.

The Philips AirFryer is priced at Rs 14,995 and is available across retail stores and ecommerce websites. Though Taurani doesn't wish to reveal the number of AirFryers Philips has sold so far, he states that within two month of launching the product, they ran out of stock and are now back with stock to meet the consumer demand. The kitchen appliances market in India is worth around Rs 2,500 crore.

The last decade in India has seen nuclear families and urban young couples moving towards healthy food options - and taste. "That is why the AirFryer will find an audience in India. I have myself tasted samosas made out of the same product and they taste good," says Jagdeep Kapoor, managing director, Samsika Marketing Consultants.

Guilt-less trip

According to Kapoor, the product helps in guilt-free consumption of heavy-calorie food. The product, feels Kapoor, is a good innovation considering the changing lifestyles of Indians. "People who innovate always stay ahead. For example, ask anyone in Mumbai today and he will say that the best panipuri in the town is found at Elco Market in Bandra. This guy, who used to sell panipuris on a cart, innovated 10 years back when he saw that many consumers were concerned about hygiene. He put a sign saying 'the pani in my panipuri is made of Mineral Water', and started serving the dishes wearing gloves. This got him more consumers as they were assured of the health and hygiene being maintained," states Kapoor.

However, the ad, feels Kapoor, doesn't do justice to the concept of the product as it shows only a young couple using it. "Indians have big families and it would have been noteworthy if the product would have been shown as being used by a traditional family. That is the kind of scale that Philips should eye to achieve with this product," he adds.

The Philips Airfryer XL claims to do all that, and more. The Airfryer “takes healthy cooking to the next level” and “helps parents serve healthier, yet still delicious versions of their families’ favourite foods such as French fries and fried chicken.”The Airfryer employs what Philips call “patented Rapid Air technology, for fast and precise circulating hot air for the perfect cooking results ... and grill elements for extra crispness”.“The unique design of the Airfryer also allows for excess oil and fat from your food to be drained during cooking, so even foods like chicken contain less fat in the Airfryer compared to even putting it in the oven,” it claims.So basically, the Airfryer uses a combination of air, heat, and the oil already in the food to fry everything to crispy perfection. Their theory is that, because there’s no added oil, the food is healthy — and their theory is seems to be accurate. Take the humble chip, for example. Per 100g, deep fried chips have 8.2 grams of fat; oven-baked chips have 2.8 grams of fat; and “Airfryed” chips have 1.5 grams of fat. Similarly, deep fried chips have 206 kilocalories; oven-baked chips have 157 kcals; and “Airfryed” chips 146.

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But while chips cooked in an Airfryer might be lower in fat and calories, surely fried food needs oil to make it taste good? The only way to know is to test it out.

Despite already having read that the Airfryer doesn’t use any excess oil, I still have a poke around the appliance for a little while that takes vegetable oil or something like that. I find nothing. All there is is a touch screen, buttons, and a pull-out oven-style drawer. Seems they were serious about that no-oil thing, then.

If it sounds like a lot of hot air, that’s probably because it is. Instead of using fat to make chips, this revolutionary kitchen appliance uses superheated air.But now Philips has invented a frying machine that it claims gives you that same satisfying fatty taste - but without the oil.The AirFryer uses Rapid Air Technology, hot air in other words, to cook the kind of meals that would traditionally be dunked in a deep fat fryer.By circulating air up to 200C around foods like chips, chicken, fish or pastries, Philips claims to be able to brown them off nicely with up to 80 per cent less fat.The AirFryer looks like a large rice cooker and has a chunky tray which can be removed, filled with food and put back inside.Twelve minutes later the meal emerges hot and crisp and, according to Philips, far healthier for you.It produces a brown and crispy finish – and cuts the calories – in everything from chicken legs to scampi.A batch of handmade chips needs just half a spoonful of oil and will take 12 minutes to cook.Oven-ready French fries can be cooked to a crisp in nine minutes.Steak, hamburger, chicken breast and frozen chicken nuggets are dealt with in similar times.Those with a sweet tooth will be pleased to learn that a cake can be baked inside 25 minutes.The device uses a grill and a fan to blast very hot air around food at high speeds. This achieves what scientists call the Maillard effect, the browning and crisping process seen when food is fried, roasted, toasted or baked.Because chips are so popular, they are responsible for Britons consuming 240,000 kilos of hidden fat every year.[caption]The AirFryer could help cut this figure, and allow its owners to enjoy their favourite meals with a clean conscience.The device will be perfect for those nervous to use traditional chip pans, which are notorious for being the cause of fires. More than 50 people die in the UK due to chip pan fires.Ron Dobson, Commissioner of London Fire Brigade, which has just launched its Cooksafe campaign about the danger of chip pans, said: 'Any gadget that reduces the number of people cooking with lots of hot oil is a good thing.'Each year hundreds of people suffer damage to their homes, are injured and sadly lose their lives as a result of chip pan fires.'How it tastes is another question - the £200 cooking machine will only be available to pre-order at Philips’ website in a few weeks time, so for now there are only the company’s claims that it has a 70 per cent approval rating with consumers.

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Crucially, whether it tastes as satisfying as the real thing remains to be seen.Cracks are also emerging in Philips claim the AirFryer it is oil free.On its website the electronics firm admits that fresh French fries need ‘half a table spoon of oil for extra taste’ when put through the machine.Then there is the issue of keeping it clean. As any owner of a George Foreman grill will tell you, that grease has to go somewhere and getting it off is not a pleasant business.To their credit, Philips have built the AirFryer with a Food Separator accessory so several foods can be fried at once without, say, making your chicken nuggets smell like a fish.It also has an air filter so, no matter how much like fried food it tastes like, your house won’t smell like a chip shop.The AirFryer was launched at the IFA consumer electronics show in Berlin where Philips also showcased an espresso machine that remembers your preferences and Europe’s greenest LED TV.‘At Philips, we develop advanced solutions that help contribute to people’s health and well-being,’ Philips Consumer Lifestyle CEO Pieter Nota said.‘The products we’ve unveiled live up to that promise by helping people live a healthy, active and more sustainable life.’

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CHAPTER III- ANALYSIS AND INTERPRETATION

Data Analysis is a process of inspecting, cleaning, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains.Data analysis is a process for obtaining raw data and converting it into information useful for decision-making by users. Data is collected and analyzed to answer questions, test hypotheses or disprove theories. The process of evaluating data using analytical and logical reasoning to examine each component of the data provided. This form of analysis is just one of the many steps that must be completed when conducting a research experiment. Data from various sources is gathered, reviewed, and then analyzed to form some sort of finding or conclusion. There are a variety of specific data analysis method, some of which include data mining, text analytics, business intelligence, and data visualizations.

There are several phases that can be distinguished. The phases are iterative, in that feedback from later phases may result in additional work in earlier phases.The process by which sense and meaning are made of the data gathered in qualitative research, and by which the emergent knowledge is applied to clients' problems. This data often takes the form of records of group discussions and interviews, but is not limited to this. Through processes of revisiting and immersion in the data, and through complex activities of structuring, re-framing or otherwise exploring it, the researcher looks for patterns and insights relevant to the key research issues and uses these to address the client's brief.

Data interpretation is part of daily life for most people. Interpretation is the process of making sense of numerical data that has been collected, analyzed, and presented. People interpret data when they turn on the television and hear the news anchor reporting on a poll, when they read advertisements claiming that one product is better than another, or when they choose grocery store items that claim they are more effective than other leading brands.Data analysis and interpretation is the process of assigning meaning to the collected information and determining the conclusions, significance, and implications of the findings. The steps involved in data analysis are a function of the type of information collected, however, returning to the purpose of the assessment and the assessment questions will provide a structure for the organization of the data and a focus for the analysis.

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SURVEY

1. Age – group of the respondent

Category Number

18-25 20

26-35 15

36-50 10

Above 50 5

Age Group

18-2526-3536-50Above 50

Interpretation :

40% of the people surveyed were in the age group of 18-25, whereas 60% of the people in the other categories

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2. Gender of the respondent

Gender Number

Male 20

Female 30

Gender

Male

Female

Interpretation :

Out of the people surveyed, 40% were males and 60% females

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3. Educational Background of the respondent

Education Number

MBA 10

MCOM 20

Others 20

Education

MBAMCOMOTHERS

Interpretation:

Out of the 50 people surveyed, 20% of the respondents were MBA’s, 40% MCOM graduates and 40% had other degrees.

4. Profession of the respondent

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Profession Number

Student 20

Service 5

Self Employed 10

Housewife 10

Retired 5

Profession

StudentServiceSelf EmployedHousewifeRetired

Interpretation :

There was a proper mix of the people surveyed as far as their profession is concerned. Out of the 50 respondents, 40% were students, 20% self employed and housewife

each and the rest are retired and in service.

5. Income of the respondent

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Income Number

Less than 25000 per month 25

25000-50000 15

More than 50000 10

Income

Less than 2500025000-50000More than 50000

Interpretation : 50% of the people fall under the category whose income is below 25000 per

month. 15 people in the 25000-50000 range and 10 people in the above 50K range.

6. Do you consider brands while purchasing kitchen appliances ?

Category Number

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Yes 32

No 18

Brand Conscious

YesNo

Interpretation : 64% of the respondents were Brand Conscious and considered brands whereas

36% did not consider brands before making a purchase.

7. Which Brands do you prefer ?

Brand Number

Kenstar 10

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Philips 20

LG 5

Samsung 12

Others 3

Brands

KenstarPhilipsLGSamsung

Interpretation When asked about which brands they prefer, many chose Philips and Samsung

( around 64%) Only 6% chose other brands than Philips,kenstar,lg and Samsung.

8. What do you look for when making a purchase of a kitchen appliance ?

Choice Number

Looks 10

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Brand 20

Cost 15

Others 5

Choice makers

LooksBrandCostOthers

Interpretation 40% of the respondents considered the brand before buying whereas 10

of the respondents considered the looks. 30% though that the cost is the decisive factor.

9. Do you keep up with the latest innovations in appliances ?

Choice Number

Yes 15

No 35

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Keeping up with Innovations

YesNo

Interpretations:

70% of the respondents do not keep up with the latest launches and innovations of appliances and only 30% do.

10. Are you comfortable buying new and state-of-the-art appliances introduced in the market ?

Choice Number

Yes 16

No 34

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Comfort in buying new products

YesNo

Interpretation :

Like most of the Indians, the respondents think that they would not go in for a brand new product immediately.

68% think that they are not comfortable and 32% think they do.

11. Do you consider appliances under the Philips brand for your purchases ?

Choice Number

Yes 30

No 20

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Considering Philips

YesNo

Interpretation:

Philips, being the famous brand in the market, people prefer and consider its products while making purchases for kitchen appliances.

60% of people consider it where as 40% don’t.

12. Are you well aware of the products offered under Philips ?

Choice Number

Yes 28

No 22

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Awareness about Philips' Products

YesNo

Interpretation Most of the people were aware of the products offered under the Philips brand.

Around 56% of the respondents were aware about it.

13. Do you own any product manufactured by Philips ?

Choice Number

Yes 25

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No 25

Ownership of philips products

YesNo

Interpretation:

Out of the 50 respondents, 25 people had products manufactured by Philips and 25 didn’t.

14. Have you heard about the Philips Air Fryer ?

Choice Number

Yes 35

No 15

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Philips Air Fryer

YesNo

Interpretation :

70% of the people were aware of the Philips Air Fryer product whereas 15 of them who presented 30% of the respondents were of it.

This suggests that this product was marketed well and it has created awareness amongst people.

15. How did you get to know about it ?

Medium Number

Advertisments 26

Friends or Relatives 14

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Others 10

Medium

AdsFriends or relativesOthers

Interpretation :

Just about 52% of the people knew about the Philips Air fryer being launched through the medium of different advertisements.

28% got to know through friends or relatives.

16. If purchased, are you happy with it ?

Choice Not Happy

Purchased and Happy 15

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Purchased and not Happy 5

Not Purchased 30

Customer Satisfaction

Purchased and happyPurchased and not happyNot Purchased

Interpretation:

60% of the respondents have not purchased it yet, whereas 40 % have purchased it and on the whole most of them are happy about the performance of the product.

17. Recommend a few changes you would like to see in the products manufactured by Philips in the future.

Suggestions Number

Price 8

Aesthetics 5

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Quality 5

Wider range of products 12

Others 20

Suggestions

PriceAestheticsQualityWider rangeOther suggestions

Interpretations :

Most of the Respondents were happy with the way the company is running and progressing

However, 40% of the people wanted changes such as more retail stores, better after sales service, better responding on the help-line nos, expanding into the lower income group etc.

CHAPTER IV : SUMMARY, FINDINGS & RECOMMENDATIONS

SUMMARY

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Through this research Project, we learn that Philips is doing very well still in the market with dominance in most of the areas when it comes to electronics and kitchen appliances. Its products are affordable and of very good quality.

This company is in the business since many years and has a lot of experience. It is familiar with most of the age groups right from the teenagers to the retired people. The marketing activites of Philips are also a success as most of its target audience are aware and excited about all the company’s launches.

Philips is one company which moves with time and gives its customers always something to look forward to. It constantly innovates and re-invents the prodcuts for the convenience and comfort of its users.

In the kitchen appliance market, it is one of the leading companies. People are also ready to pay a higher price for its product as they believe that Philips gives good value for money and the products are long lasting.

Also the Philips Fryer has been a success in the market because of its health factor i.e. No oil used, only Hot air. Though the product is only for the high income group, with time the prices of the product will come down as it breaks even.

With entry into rural markets and also catering to lower-income group Philips is only going to get bigger and better in the years to come.

FINDINGS

The main objective of the study was to find the major driving forces of Philips, to know its standing in the market and also to see how well he Air fryer has been accepted.

Taking a recap at the Hypothesis :

The marketing of Philips Air Fryer is a success. The Air Fryer has been well accepted in the market.

With the survey carried out, we learn that just like all other products of Philips, the Philips Air Fryer has been marketed well and also has been accepted well by the Target market. Hence, the hypothesis is accepted.

Brands like Kenstar, LG and Samsung are also giving Philips a tough competition by cutting the prices and also competing on the level of launching new products regularly.

Most of the respondents were females and all of them were educated individuals, so one can weigh the weight of this survey and actually consider it as good data.

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Philips was considered by almost 65% of the people while making the purchase for electrical appliances and 40% of the people owned Philips appliances in the past.

Just like all other products, brand value is extremely important when it comes to kitchen appliances and majority of the respondents feel the same. They consider the brand value as most important while making the purchases.

The awareness created by the company for its products is also great, as many of the respondents seem to know about the new launches and innovations. Not many of the respondents avidly follow the trends in the kitchen appliance industry but get their daily dose of information from advertisements and relatives.

When asked about the expectations from the the company, the respondents wanted it to venture into rural markets, improve the after sales service and wanted more colours to be used in its products.

RECOMMENDATIONS

From the survery, one learns that Philips has an opportunity to cater to the lower income group as well. This will help to broaden their reach and also achieve economies of scale. In this way they can also increase their profits and mass appeal. In developing nations like India, Sri Lanka, Vietnam etc majority of the population is under the Lower Income group category. Philips has presence in these markets and they should try and exploit these circumstances.

Respondents taking the survey were also of the opinion that the company should improve its after sales services. It was learnt that not much attention is paid to the customers grievances post the purchase of the product. If they could just focus on this error and rectify this mistake it will be go down very well with the society.

More offers on festivals should be provided. Especially in India where there are people of so many religions celebrating many festivals and employees get bonuses and increments during this time. So, if there are schemes which are running during these times, customers would come in large numbers to purchase the products.

In the market, many of Philips’ Competitors are offering the products throughout with some kind of scheme and promotions. Philips also should think upon this to fight competition and delight the customer in return.

After research, it was concluded that at times Philips products aren’t available at the stores frequently due to shortage of goods and improper supply. Also in the cities, if

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Philips could have retail stores at big malls, it will be more convenient for its customers to look for its products at a place which they frequently visit.

BIBLIOGRAPHY

Wikipedia Investopedia National Appliances Survey www.marketinggenius.com

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www.businessdictionary.com www.euroasiapub.com Report on Philips’s Marketing Strategies by Vinod Verma.

QUESTIONNAIRE

1. Which age-group do you fall in ?

a)18-25

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b)26-35

c)36-50

d)Above 50

2. Gender Classification ?

a)male

b) female

3. Educational Background

a)MBA

b)MCOM

C)Others

4. What Profession are you into ?

a) Service

b)Self Employed

c) Student

d) Housewife

e) Retired

5.Monthly Income ?

a) Less than 25000

b) 25000-50000

c) More than 50000

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6. Do you consider brands while purchasing kitchen Appliances ?

a) Yesb) No

7. Which Brands do you prefer ?a) LGb) Philipsc) Samsungd) Kenstare) Others

8. What do you look for when making a purchase of a kitchen appliance ?a) Looksb) Brandc) Costd) Others

9. Do you keep up with the latest innovations ? a) Yesb) No

10. Are you comfortable buying state of the art appliances introduced in the market ?a)yesb)no

11. Do you consider Philips appliances ?a) Yesb) No

12. Are you aware of the products under Philips ?a)Yesb)no

13. Do you own any product manufactured by Philips ?

a) Yes

b) No

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14. Have you heard about Philips Air fryer ?

a)Yes

b) No

15. How did you get to know about it ?

a) Friends and relatives

b) Ads

c) Others

16. If purchased, Are you happy with it ?

a) Yes

b) No

17. Recommend a few changes you would like to see in the products manufactured by Philips?

a) Price

b) Cost

c) Aesthetics

d) Others

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