B.Com Project

Chapter – I

Introduction and Design of the study

1.1.

INTRODUCTION :

The economic development of a country to a large extend depends on techno technolog logica icall develo developm pment ent.. The techno technolog logica icall develo developme pment nt in all fields is necessary. The looking had been developed to a high level. Here we are going to study about the induction stove which plays an important role in the cooking. The induction stove also have been developed by the technology. The consumer preference in selecting induction stove had  become very tough. As every company is introducing their induction stove with more features and with a best performance which is more important for creating a good name in the induction stove market. In every country in induction stove companies are trying to produce the indu induct ctio ion n stov stovee with with feat feature uress whic which h sati satisf sfie iess the the cons consum umer er.. Ever Every y company is using more technology as possible to attract the consumers. Hence here we are going to study about the consumer preference and attitude towards induction stove.

1

1.2. USES OF INDUCTION STOVE IN COOKING:

An induction cooker uses induction heating for cooking. Unlike othe otherr form formss of cook cookin ing g heat heat is gene generat rated ed direc directl tly y in the the pot pot or pan pan (cook (cookin ing g vess vessel el), ), as oppo oppose sed d to bein being g gene genera rate ted d in the the stove stoveto top p by electrical coils or burning gas. To be used on an induction cooker, a cooking vessel must be made of a ferromagnetic metal. In an induction cooker, a coil of copper wire is placed underneath the cooking pot. An alternating electric current flows through the coil, whic which h produ produce cess an osci oscill llat atin ing g magn magnet etic ic fiel field. d. This This fiel field d indu induce cess an electric current in the pot. Current flowing in the metal pot produces resistive heating which heats the food. While the current is large, it is  produced by a low voltage.

1.3. STATEMENT OF THE PROBLEM

Economic development of any nation to a large extend depends upon the development of the technology in that country. The success depe depend ndss upon upon the the tech techno nolo log gy deve develo lopm pmen entt in the nati nation on.. If the technology is developed in every source then the consumer’s role in selecting selecting induction induction stove will will be tougher. Since a study cannot be made made in indu induct ctio ion n stov stove, e, so we feel feel a “stu “study dy abou aboutt cons consum umer er pref prefere erenc ncee 2

towards induction stove with reference to Tuticorin town” as a good topic for study.

1.4. NEED FOR THE STUDY

The consumer is the king in the market. It is more important to satisfy the consumer. So it is important to study about the consumer’s  preference and attitude. The need for the study is as follows. 1. To know know about about the the consume consumers rs attitu attitude de 2. To know know what what the consumers consumers expect expect from from the producers. producers. 3. To increa increase se the the standard standard of of the produ product. ct. 4. To

strengt ngthen

the

relationship

between

consumers

and

 producers 5. To increase increase the the knowledge knowledge about about the the market market conditio conditions. ns. 6. To know know the the sales sales volum volumee of the the company company 7. To know know the lim limita itatio tions ns of the com company pany

1.5. SCOPE OF THE STUDY

This study is an attempt to study about the consumers’ preference towards induction stove in Tuticorin town. 3

1.6. OBJECTIVES OF THE STUDY

1. To study study about the features features of of the inducti induction on stove stove which which satisfies the consumers 2. To know which which model model inductio induction n stove is is most preferred preferred by by the consumers. 3. To study study about the problem problemss faced by by the consum consumers ers in using using induction stove 4. To know the suggesti suggestion on of consume consumers rs about their induction induction stove 5. To know the the consumers consumers attitude attitude in in choosing choosing induction induction stove.

1.7. METHODOLOGY AND TOOLS USED

This study is based on survey method. Primary data are collected from the field directly by using an interview schedule. The interview schedule was constructed by the study group. A pretest was conducted with 50 respondents having induction stove who were located in different areas in Tuticorin Town. The interview was modified on the basis of   pretest. Classification tables, percentages, bar charts, pie charts, exploded 4

 pie charts, drought nut charts; line charts, cylindrical and pyramid shaped shap ed  bar charts are being used in this project study.

1.8. SAMPLING DESIGN

Study group selecting 50 respondents in the study area by adopting random sampling techniques.

1.9. FIELD WORK AND DATA COLLECTION

Field work of this study was carried on by the study group. It was conducted during the period from Dec 2010 to March 2011 covering a  period of 4 months. The study group has used interview schedule for collecting data from the consumers. The consumers were interviewed by the study group generally during their leisure time. The interview was quite normal and conducted through casual conversation in Tamil and was recorded by the study group. Care was taken to ensure completeness and accuracy of the information.

1.10. DATA PROCESSING

5

After the completion of data collection, the filled up interview schedules were edited properly. Then classification tables were prepared for each function of the question and classification tables are taken directly for analysis

1.11. LIMITATIONS OF THE STUDY

The study group has prepared detailed interview schedule and collected data from consumers. This study covers the consumers of the Tuticorin city only. Findings of this study may not be applicable to other  consumers belonging to other cities. The period given for collecting the data is very short. This data is collected only from 50 respondents only. So the data collected does not represent the total consumers and it cannot  be very accurate.

1.12. CHAPTER SCHEME

This report is organized and presented in five chapters The first chapter discusses the introduction and design of the study. It covers introduction , uses of induction stove in transport, statement of   problems, need for the study, scope of the study, objectives of the study, methodology and tools used. Sampling design, field work and data 6

collection, data processing, limitations of the study and chapter scheme are included in this chapter. The second chapter discusses the consumer preference and attitude towards induction stove market, problems of induction stove owners. The third chapter discusses the recent features and development induction stove. In the fourth chapter an attempt is made to analyse and interpret the data collected from the field. The last and Fifth chapter presents a summary of the findings and suggestions towards consumer’s preference in induction stove.

7

CHAPTER - 2 CONSUMER PREFERENCE AND ATTITUDE TOWARDS INDUCTION STOVE 2.1. INTRODUCTION

In the present age of liberalisation, Privatilation and globalisation, host of changes have taken place because of development activities. The whole of the profile of Indian markets have witnessed manifold changes  particularly in the last decade. The mass communication has also changed the whole theory and concept of marketing. The marketers, who were concentrating only on urban consumers, have started to shift their target towards rural markets too. Increasing awareness of new products and flooded market have made consumer choosier, thereby, consumers  perceptional values have been changing very fast. Nowadays, it has  become inevitable to find a place in an individual. The consumers  perceptional frame work for the survival of the product.

2.2. HISTORICAL PERSPECTIVE

Induction equipment may be a built-in hob, part of range, or a standalone hob unit. Built-in and range top units typically have multiple elements, the equivalent of separate burners on a gas-fueled range. Standalone induction “modules” are usually single-element, or sometimes have 8

dual elements. All such elements share a basic design; and electromagnet sealed beneath a heat – resisting glass – ceramic sheet that is easily cleaned. The pot is placed on the ceramic glass surface and begins to heat up, along with its contents. In Japan, some models of rice cookers are powered by induction. In Hong Kong, power companies list a number of models. Asian manufactures have taken the lead in producing inexpensive singleinduction-zone hobs; efficient, low-waste-heat units are advantageous in densely populated cities with little living space per family, as are many Asian cities. Induction cookers are less frequently used in other parts of  the world. Induction ranges may be applicable in commercial restaurant kitchens. Electric cooking avoids the cost of natural gas piping and in some jurisdictions may allow simpler ventilation and fire suppression equipment to be installed. Drawbacks for commercial use include higher  initial cost and the requirement for magnetic cookware.

2.3. REVOLUTION IN INDUCTION STOVE

The market for induction stoves is dominated by German manufactures, such as AEG, Bosch, Miele and Siemens. The Spanish company Fagor, Italian firm Smeg and Sweden’s Electrolux are also key 9

 players in the European market. Prices range from about GBP 250 to 1,000 within the U.K, In 2006, Stoves launched the UK’s first domestic induction hob (cook top) on a range cooker at a range cooker at a slight lower cost than those imported. The European induction cooking market for hotels, restaurants and caterers is primarily satisfied by smaller specialist commercial induction catering equipment manufacturers such as Advents of France. Control induction of the UK and School of Germany. Taiwanese and Japanese electronics are the dominant players in induction cooking for East Asia. After aggressive promotions by utilities in HK like CLP power HK ltd, many local brands like UNIVERSAL icMagIC, Sansui, German pool also emerged. There power and ratings are

high,

more

than

2,800

watts.

manufacturers only sell domestically.

10

Some

Japanese

electronics

2.4 PROBLEMS OF INDUCTION STOVE OWNERS

The problems of induction stove owners differ with the Induction stove being used. The problems are as follows. 1. The most important problem of induction stove owners is power  cut. 2. Cook ware must be compatible with induction heating 3. Glass and ceramics are un useable as are solid copper or solid aluminum cook ware. 4. Aluminum foil can melt onto the top and cause permanent damage or cracking of the top. 5. Some cooking techniques available when cooking over a flame are not applicable.

11

CHAPTER 3 3.1 RECENT FEATURES AN DEVELOPMENT IN INDUCTION STOVE 

Automatic shut off in absence of vessel or empty vessel.



Human voice alert system is also been introduced in the modern induction stoves.



Automatic indicator system is available in now a days in induction stove.



 New technology is introduced in heat generation to get more time saving.



Flat clean elegant cook top up and controls.



Operational in Air conditioned environment.



Compact and portable.



Well designed internals to avoid ingress of water and insects.

12

3.2.MODELS OF INDUCTION STOVE

SAFE •

•

 No risk or fire or electrical Mishaps Auto switch off feature

CONVENIENT

13

•

Cook - no flame

•

Just wipe to clean

•

Portable to use anywhere

ENERGY EFFICIENT •

Directly heats the vessels

•

Twice as efficient as gas stoves

•

Thermostat control.

NICE-COOK INDUCTION STOVE

1. 1800W, 220V, 50Hz, 2. Self Detection of suitable cookware’s 3. Self detection of small objects such as knife, fork, and so on 4. Self detection of high or low current and switch off automatically. 5. Self detection of over-heat, and switch off automatically after beep. 6. Self detection of moving cookware and switch off automatically after   beep. 14

7. Self detection of operating and if no operation it will give beep sound, and switch off automatically after one minute. 8. Special key for KEEP WARM AND SEPARTE KEY FOR  SHOWING THE ELECTRICITY CONSUMPTION IN KWH 9. SIEMENS IGBT USED FOR LONG LIFE. 10. Auto Overheat protection system

Features of Induction Cooker:

1. Euro lab 2000W Induction Cook top 2. Cooks 2 times faster than a gas stove and is 20% cheaper to use. 3. Better thermal efficiency and controllability. 4. No direct heating element or flame - conducts heat to pot via high frequency magnetic fields. 5. Four-digit LED, intelligent touch control panel 6. Multiple protections, safe and reliable

15

7. CPU controls the heat stability and prolongs the lifespan of the cook  top. 8. Custom settings for different types of cooking: Heat milk, Soup, Cooking, Chaffy dish 9. Special functions such as pre-set timer, timer, electricity consume check, and voltage check. 10. Seven-stage power adjustment, satisfy your different requirements

4.1) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF SEX S.No

Sex

No of respondents

Percentage

1

Male

17

34%

2

Female

33

66%

Total

50

100%

Interpretation

The above table shows that 17% of the respondents are males and 66% of the respondents are female. The same is shown in the diagram.

16

CHART SHOWING THE RESPONDENTS ON THE BASIS OF SEX

17

4.2) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF AGE S.No

Age

No of Respondents

Percentage

1

Upto 20

10

20%

2

21 to 30

20

40%

3

31 to 40

15

30%

4

41 and above

5

10%

50

100%

Total

Interpretation

Table shows the respondents upto 20 years are 20% and 21 to 30 years are 40%. 31 to 40 are 30%. 41 and above are 10%. The same is shown in the diagram.

18

CHART SHOWING THE RESPONDENTS ON THE BASIS OF AGE

19

4.3) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF EDUCATIONAL QUALIFICATION

S.No

Educational Qualification

No of Respondents

Percentage

1

Below S.S.L.C

5

10%

2

S.S.L.C.

4

8%

3

H.S.S.

3

6%

4

Graduate

28

56%

5

Professional graduate

10

20%

Total

50

100%

Interpretation

20

It can be seen from the above table that out of the respondents 20% are post graduates. 56% are under graduates, 6% respondents are higher  secondary, 8% respondents are S.S.L.C, 10% respondents are below S.S.L.C.

CHART SHOWING THE RESPONDENTS ON THE BASIS OF EDUCATIONAL QUALIFICATION

21

4.4) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF MARITAL STATUS

S.No

Marital status

No of  

Percentage

respondents 26

52%

1

Married

2

Unmarried

24

48%

Total

50

100%

Interpretation

It seen that from the table out off 52 respondents 52% are married where as the remaining 48% are unmarried.

22

CHART SHOWING THE RESPONDENTS ON THE BASIS OF MARITAL STATUS

23

4.5) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF SIZE OF FAMILY

S.No

Size of Family

No of respondents

Percentage

1

Upto 3 Members

16

32%

2

3 to 5 Members

27

54%

3

above 5 Members

7

14%

Total

50

100%

Interpretation

The above table shows that out 50 respondents 32% consist of upto to 3 members 54% consist of upto 3 to 5 members, 14% consist above 5 members in a family.

24

CHART SHOWING THE RESPONDENTS ON THE BASIS OF SIZE OF FAMILY

25

4.6) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF OCCUPATION

S.N o 1 2 3 4

Occupation

No of   respondents 30 4 14 2 50

Salaried People Professional Business Others Total

Percentage

60% 8% 28% 4% 100%

Interpretation

The above table shows that 60% of the respondents are salaried  people 8% of the respondents are professionals, 28% of the respondents are doing business, 4% of the respondents are other’s.

26

CHART SHOWING THE RESPONDENTS ON THE BASIS OF OCCUPATION

27

4.7) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF MONTHLY INCOME

S.No

1 2 3 4

Monthly income

No of   respondents 8 18 10 14 50

Less then Rs 5000 5001 to 10,000 10,001 to 15,000 above 15,00 Total

Percentage

16% 36% 20% 28% 100%

Interpretation

The above table shows that 16% of the respondents earn less than Rs.5000. 36% earn 5,001 to 10,000. 20% earn 10,001 to 15,000. 28% earn above 15.000.

CHART SHOWING THE RESPONDENTS ON THE BASIS OF MONTHLY INCOME

28

29

4.8) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF PREFERENCE OF COMPANY S.No

1 2 3 4 5

Company

No of   respondents 8 15 2 18 7 50

Pigeon Preethi Bajaj Butterfly Other’s Total

Percentage

16% 30% 4% 36% 14% 100%

Interpretation

The above table shows 16% of the respondents use pigeon company induction stove. 30% of the respondents use preethi company induction stove. 4% of the respondents use Bajaj induction stove. 36% of  the respondents use Butterfly company induction stove. 14% of the respondents use other companies.

CHART SHOWING THE RESPONDENTS ON THE BASIS OF PREFERENCE OF COMPANY 30

31

4.9) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF TYPE OF INDUCTION STOVE

S.No

1 2 3

Types

No of

 

respondents 12 32 6 50

Feather touch Button Type Tunor type Total

Percentage

24% 64% 12% 100%

Interpretation

The above table clearly shows that out of 50 respondents 24% uses feather touch, 64% uses button type, 12% uses tuner type.

32

CHART SHOWING THE RESPONDENTS ON THE BASIS OF TYPE OF INDUCTION STOVE

33

4.10) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF REASON FOR BUYING

S.No

Reason for buying

No of respondents

Percentage

1

fast cooking

22

44%

2

Gas shortage

17

34%

3

low cost

6

12%

4

within budget

5

10%

50

100%

Total

Interpretation

The above table clearly shows the out of 50 respondents 44% of  the respondents purchasing for fast cooking, 34% are purchasing for gas shortage, 12% are purchasing for low cost, 10% are purchasing for within  budget.

34

CHART SHOWING THE RESPONDENTS ON THE BASIS OF REASON FOR BUYING

35

4.11) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF MOTIVATION FOR BUYING

S.No

1 2 3 4

Motivation for buying

Advertisement relation friends other’s Total

No of  

Percentage

respondents 23 13 12 2 50

46% 26% 24% 4% 100%

Interpretation

The above table shows that 46% of the respondents buy their  induction stove on motivation of advertisement. 26% of the respondents  buy their induction stove on motivation of relation. 24% for the motivation of friends. 4% of the respondents buy their induction stove on motivation of other’s advice.

36

CHART SHOWING THE RESPONDENTS ON THE BASIS OF MOTIVATION FOR BUYING

37

4.12) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF PURCHASE DECISION

S.No Purchase decision 1 yourself 2 spouse 3 collectively Total

No of respondents 29 11 10 50

Percentage 58% 22% 20% 100%

Interpretation

The above table clearly shows that out of 50 respondents, 58% took decision by themselves. 22% consider spouse decision, 20% collective decisions.

38

CHART SHOWING THE RESPONDENTS ON THE BASIS OF PURCHASE DECISION

39

4.13) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF ADVERTISEMENT MOTIVATION

S.No

Ad. motivation

No of  

Percentage

1

Yes

respondents 28

2

No

22

44%

Total

50

100%

56%

Interpretation

The above table shows that 56% of the respondents buy their  induction stove on motivation of advertisement and remaining 44% are not motivated by the advertisement.

40

CHART SHOWING THE RESPONDENTS ON THE BASIS OF ADVERTISEMENT OF MOTIVATION

41

4.14) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF CHEAP AND BEST COMPANY

S.No cheap and best company

1 2 3 4 5

Pigeon preethi Bajaj Butterfly other’s Total

No of  

Percentage

respondents 5 12 6 19 8 50

10% 24% 12% 38% 16% 100%

Interpretation

The above table shows that 10% of the respondents cheap and best company of pigeon, 24% for preethi, 12% of Bajaj, 38% of Butterfly, 16% of other’s.

CHART SHOWING THE RESPONDENTS ON THE BASIS OF CHEAP AND BEST COMPANY 42

4.15) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF SAFETY MEASURES 43

S.No

Safety measures

No of respondents

Percentage

1

Child lock

10

20%

2

automatic shut off

40

80%

Total

50

100%

Interpretation

The above table shows that 20% of the respondents buy their  induction stove for the safety measure of child lock, 80% of automatic shut off.

CHART SHOWING THE RESPONDENTS ON THE BASIS OF SAFETY MEASURES 44

4.16) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF CHANGE THE BRAND

45

S.No

change the brand

No of respondents

Percentage

1

Yes

10

20%

2

No

40

80%

Total

50

100%

Interpretation

The above table shows that 20% of the respondents wants to change the brand, 80% of the respondents don’t like to change the brand.

46

CHART SHOWING THE RESPONDENTS ON THE BASIS OF CHANGE THE BRAND

47

4.17) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF YEARS OF USING

S.No

Year’s of using

No of respondents

Percentage

1

Less then 1 year

30

60%

2

above 2 year

20

40%

Total

50

100%

Interpretation

The above table shows that 60% of the respondents using induction stove less than 1 year 40% of the respondents using induction stove above 2 years.

48

CHART SHOWING THE RESPONDENTS ON THE BASIS OF YEARS OF USING

49

4.18) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF CAPACITY OF WATTS

S.No

Capacity of watts

No of respondents

Percentage

1

1800 watts

11

22%

2

2000 watts

31

62%

3

2100 watts

8

16%

Total

50

100%

Interpretation

The above table shows that 22% of the respondents use 1800 watts of induction stove 62% of the respondents use 2000 watts of induction stove 16% of the respondents use 2100 watts of induction stove.

50

CHART SHOWING THE RESPONDENTS ON THE BASIS OF CAPACITY OF WATTS

51

4.19) TABLE SHOWING THE RESPONDENTS ON THE BASIS OF SATISFACTION OF INDUCTION STOVE

S.No

Year’s of using

No of respondents

Percentage

1

Yes

41

82%

2

No

9

18%

Total

50

100%

Interpretation

The above table shows that 82% of the respondents are satisfied by the performance of their induction stove. 18% of the respondents are not satisfied by the performance of their induction stove. The same is show in diagram.

52

CHART SHOWING THE RESPONDENTS ON THE BASIS OF SATISFACTION OF INDUCTION STOVE

53

CHAPTER – 5 FINDINGS, SUGGESTIONS & CONCLUSION

5.1 FINDINGS



34 % Male respondents use induction stove and 66 % Female respondents use induction stove



52 % Married persons used Induction stove



60 % Salaried people used induction stove



30 % of the respondents used preethi induction stove



64 % of the respondents used button type induction stove



44 % of the respondents used induction stove for fast cooking



46 % of the respondents are motivated by the advertisement for   buying



58 % of the purchase decision are taken by the respondents their  own self 



56 % of the respondents are motivated by the advertisement

54



38 % of the respondents used butterfly induction stove for cheap and best



80% respondents use induction stove for the safety measure of  child lock.



80 % of the respondents don’t want to change the induction stove



60 % of the respondents used induction stove less than 1 year 



62 % of the respondents used 2,000 watts capacity of induction stove



82 % of the respondents are satisfied by the performance of their  induction stove.

55

5.2

SUGGESTIONS:-



 Now a days the induction stoves were not buyable for luxury  but it becomes necessary for many people. So, every family wants to have an own induction stove. It is possible only by the attitude of government electric policy. So the government can reduce the rate and other taxes.



The government can give uninterrupted power supply to every home.



The induction stove manufactures can take steps to reduce the cost of induction stove. The manufacturer can also do some research to increase the power consumption of the induction stove.



To encourage the manufacturers to produce induction stove lighter in weight and cheaper in price and the government should reduce the rate of duties.



The government should encourage the manufactures to produce  battery operated induction stoves.

56

5.3. CONCLUSION

 Now a days induction stoves are essential for day to day human life. So, all have a dream of buying induction stove. It can come true within a very short period of time because more number of induction stove companies were started in India. The buying capacity of induction stove shows the developing economic status of the country. In view of the above discussion it can be very safely said that the “consumer satisfaction towards induction stove positively enhance the sale of the induction stove”. Hence it is the opportunity for the companies for making their almost efforts to improve the production and sale of  induction stove.

57

BIBLIOGRAPHY

Books:

1. Modern cooking by Philip Kotler  2. Home appliances market by James stev Magazines:

1. Business today 2. Women’s Era Websites:

www.preethi.com www.butterfly.com www.wikipedia.com 58