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Topic – Market Potential Survey for Deepfreeze
Name – Samir Yamnurwar
Course - MBA
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TABLE OF CONTENTS
Sr.No Particulars Page
No
1 EXECUTIVE SUMMARY.
2 OBJECTIVE OF STUDY.
3 COMPANY PROFILE.
4 PRODUCT PROFILE.
5 RESEARCH METHODOLOGY.
6 DATA ANALYSIS.
7 FINDINGS .
8 LIMITATION .
9 RECOMMENDATION.
10 CONCLUSION
11 BIBLIOGRAPHY
12 ANNEXURE
2
CHAPTER 1
EXECUTIVE SUMMARY
3
EXECUTIVE SUMMARY
The project titled Market potential of Deepfreezer in pune for the company Carrier
Air-conditioning & Refrigeration Ltd. PUNE was undertaken with a prime motive
to understand the market potential activity, carried out for refrigeration products.
Market potential was carried out for refrigeration products of the company which
are basically refrigeration products utilized for maintaining temperature in a space
below surrounding . These products are basically used in process industries such as ,
ice-cream parlour ,Ice-cream Dealer,Ice-cream manufacture,dairy shops etc.
This project was chosen with an intention to unrevealed Market potential carried out
for industrial products and also since it is the area of interest for making a career in
industrial marketing i.e. business to business marketing. The company Carrier Air-
conditioning & Refrigeration ltd. was specifically chosen since it is into
manufacturing and marketing of refrigeration products. Another reason for selecting
this company is that it has huge and diversified customer base for air-conditioning in
pune for its products providing good scope for the study.
The location chosen for the study was restricted to the firms with in pune and
surrounding pune .The project was carried out in two stages with reference to the
primary and secondary objectives. And for each stage a different methodology was
adopted. The actual sales and promotion was done by mostly visiting the firms and
interacting with either maintenance/purchase/shop manager with reference to
products and then a detailed analysis was prepared on the basis of this interaction.
Other market potentia techniques such as sending emails, telephonic interview, was
also carried out.
In the second stage a feedback was taken from the customers regarding the brand
Of companys products which they are using , whether they are satisfied with loyalty
towards the company.
And finally from data analysis it was found that majority of the existing and
prospective customers have more number of deepfreezer in Ice-cream parlour as
compare to ice-cream dealer,ice-cream manufacture and dairy shops .
It was found that market share of Carrier is less as compare to Bluestar and Voltas
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CHAPTER 2
OBJECTIVE & SCOPE OF STUDY
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OBJECTIVES
To find market potential of deepfreezer in PUNE market .
To estimate which company s deepfreezer is preferred by consumer.
To find out customer loyalty towards the company.
SCOPE
The scope of project was among the companies within and surrounding pune at
around total 150 firm were interacted in the process of due completion of this project
and complete product range of the categories of the company products were duly
considered for this study providing a holistic approach
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CHAPTER 3
COMPANY PROFILE
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History of the company
Founded in 1915 by Dr.Willis Carrier, the inventor of modern air-conditioning,
Carrier has developed into being the largest global manufacturer of air-conditioning,
heating and commercial refrigeration systems. Over the decades, the Carrier name
has become synonymous with reliability, innovation, commitment, superior
technology, cutting-edge manufacturing and world-class performance.
Carrier, a global player in the HVACR market with operations in 172 countries, 71
manufacturing locations and 18 design centers, employing approximately 41,000
people worldwide and revenues of $13.4 billion in 2006. It has the broadest product
offering in the world with strong technology / innovation focus and 348 patents in
the last 4 years. It also has one of the most prestigious insta -llation bases in the
world.
Carrier is a part of United Technologies Corporation, a $47.8 billion, in 2006,
conglomerate operating in the high technology space. The UTC group leads with
businesses in aerospace & building systems with companies like Carrier (air-
conditioning), Otis (Elevators), Pratt & Whitney (Jet- engines), Sikorsky
(Helicopters), UTC Fire & Security (Chubb + Kidde), Hamilton Sundstrand and
UTC Power.
Carrier started its operations in India with the setting up of Carrier Aircon in 1986,
and Established Carrier Refrigeration in 1992. It was the first global company to
bring to the Indian consumer, access to advanced technology and air-conditioning
and refrigeration products from the worldwide product portfolio of Carrier. In Oct.
2006, both these companies merged to form a new entity called “Carrier Air-
conditioning & Refrigeration Ltd.”.
Carrier's Gurgaon manufacturing facility produces air conditioning equipments
including Window Room Air conditioners, Hi- Wall Splits, Slimpak Splits, Cassette
Splits, Ducted Splits and Chillers. It also manufactures Refrigeration Equipments
including Cold chain equipment comprising of Cold Rooms, Truck Refrigeration &
Bus Air-conditioning system, Freezers, Visi Coolers & Super Market Products .All
these are supported by the Willis Carrier Engineering Center
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Historical Milestones
1902 Carrier Engineering Corp. is founded in New York.
1906 U.S. patent issued for “Apparatus for Treating Air”
1915 Carrier Engineering Corp. is founded in New York.
1922 Carrier develops a new coolant and a centrifugal refrigerating machine that
enables the cooling of public spaces, changing the face of urban architecture.
1939 Carrier invents a system for air conditioning skyscrapers.
1965 Carrier installs ground-based environmental control systems for the Apollo-
Saturn V moon program.
1979 UTC acquires Carrier, the world’s largest manufacturer of air conditioning
and
Refrigeration equipment.
1986 Carrier establishes first of several joint ventures in China.
1996 Carrier introduces its first product line of high efficiency residential air
conditioners and heat pumps using the environmentally sound, non-ozone-
depleting Puron® refrigerant.
2006 Carrier pushes the performance of some Infinity models to 21 SEER
(Seasonal Energy Efficiency Ratio), saving consumers more than half the
energy some previous products required
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Awards
2007 AHR (Air Conditioning and Refrigeration) Expo Innovation Award to
Aquaforce™ chiller (U.S.)
2007 Home Magazine Building Product Awards for innovation and energy
efficiency to Carrier Infinity™ (U.S.)
2006 Dealer Design Silver Award to Aquaforce chiller (U.S.)
2006 Comfortech Best in Show Award for Carrier Infinity 14 Hybrid Heat™
Packaged System (U.S.)
2006 Consumers Digest Best Buy Award for Bryant Evolution™ Plus 90i™ Gas
Furnace and Evolution™ 288A Heat Pump (U.S.)
2006 China Construction Energy Saving Air Conditioning Product Gold Award for
Aquaforce chiller (China)
Recent Innovations
2007 Introduces Hybrid Heat system that combines the benefits of intelligent
control for both gas and electric heating to create an intuitive system that
automatically selects the most efficient fuel source
2006 Launches Infinity Air Purifier that captures and kills airborne allergens,
bacteria, molds and viruses
2006 Launches a new range of 13 SEER energy efficient products for U.S. market
2006 Launches Deltek™ hybrid diesel electronic technology, Vector™ 1800 all-
electric trailer refrigeration unit and ComfortPro™ auxiliary power unit which
reduces engine idling time 90 percent to reduce fuel costs and emissions for
the North America truck/trailer market.
2006 Introduces ThinLINE™ DT container refrigeration system, the only system on
the market to offer a dual-temperature capability
2005 Introduces Evergreen® chiller – first water cooled variable speed screw
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chiller
Corporate Responsibility
Carrier’s growth and success has been built on a foundation of trust – in the quality
of our products and services, in the dedication of our people, and in the many ways
we contribute to the well-being of our communities. This is directly in line with the
corporate philosophy of Carrier’s parent company; United Technologies Corporation
(UTC).Our commitment to responsible corporate citizenship infuses every aspect of
our business. We consistently pursue fair and ethical standards, whether delivering
products and services to our customers, forging relationships with industry partners,
or fostering the personal and professional development of our employees.
Social
Carrier actively supports the communities where we live and work through
community service and charitable contributions. It is an essential aspect of our
overarching mission to make the world a better place, today and well into the future.
Sustainability
As the world’s largest provider of heating, cooling and refrigeration systems, we
believe market leadership obligates environmental leadership. Focused on reducing
the impact of manufacturing operations across the globe, Carrier has set the industry
standard for environmentally sound business practices and a commitment to
sustainability across its products, production, people and processes.
Carrier Fact Sheet
Carrier Corporation is a leader in providing heating, ventilation, air conditioning
and refrigeration (HVACR) systems, components, controls and services for
residential, commercial, industrial and transportation applications; and food service
equipment. It is a subsidiary of United Technologies Corporation
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Mission
To be our customers’ first choice for air-conditioning, heating and refrigeration
solutions everywhere around the world.
Purpose
We make the world a better place to live by creating a comfortable, productive and
healthy environment, regardless of climate, and by ensuring the global food supply
is transported and preserved for safe consumption.
Revenues
$13.5 billion in 2006
Current Employment
Approximately 41,000
Operations
The company has a network of research and development centers and 71
manufacturing facilities and 18 design centers around the world. Carrier distributes
to, and services its customers via a worldwide network of owned and independent
distributors and dealers in more than 170 countries on six continents.
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CHAPTER 4
PRODUCT PROFILE
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REFRIGERATION CYCLE
There are four main components in a refrigeration systems
The Compressor
The Condensing Coil
The Metering Device
The Evaporator
Two different pressures exist in the refrigeration cycle. The evaporator or low
pressure, in the “ low side” and the condenser, or high pressure, in the “high
side”
These pressure areas are divided by the other two components. On one end, is
the metering device which controls the refrigerant flow, and on the other end, is
the compressor.
The Compressor
The compressor is heart of the system. The compressor does just what it’s name
is. It compresses the low pressure refrigerant vapor from the evaporator and
compresses it into a high pressure vapor.
The inlet to the compressor is called the “Suction Line”. It brings the low
pressure vapor into the compressor. After the compressor compresses the
refrigerant into a high pressure vapor, it removes it to the outlet called the
“Discharge Line”.
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Metering Devices
Metering devices regulate how much liquid refrigerant enters the evaporator.
Common used metering devices are small thin copper tubes referred to as “cap
tubes” thermal expansion valves and single opening ‘orifices”.
The metering device tries to maintain a preset temperature difference or “
superheat”, between the inlet and outlet openings of the evaporator.
As the metering devices regulates the amount of refrigerant going into the
evaporator, the device lets small amounts of refrigerant out into the line and
looses the high pressure it has behind it.
Now we have a low pressure cooler liquid refrigerant entering the evaporative
coil (pressure went down- so temperature goes down).
What is a Refrigeration System?
Refrigeration is defined as the transfer of heat from a lower temperature region to a
higher temperature one. Refrigeration devices that produce refrigeration operate
using the vapor-Compression cycle (reversed Carnot cycle) or vapor absorption
system. Some examples of refrigeration devices are heat pumps, refrigerators,
automotive air-conditioners,andresidential/commercial air-conditioners. All of these
devices have one thing in common, to reduce the temperature of an enclosed
environment.
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FREEZERS > GT-300
Deepfreezer:product features
Compact design with large net storage capacity
Outer casing is galvanized steel with baked –on paint finish for for durability
Robust construction & elegant look.
Inner liner is Stucco Aluminum-Rust free,Food grade & Hygienic
Higher capacity refrigeration system for fast pull down.
High density, environment friendly, polyurethane foam for better insulation
using high pressure injection machine.
R-134a Refrigerant,chlorine free, environment friendly
Energy save compressor – low energy consumption.
Longer thaw –out time to take care of prolonged periods of power failure
60mm thick poiyurethane foam Insulation – Higher holding time.
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PVC coated baskets.
Adjustable Thermostat.
Skin & Auxillary condenser for better performance to suit Indian conditions
Reliable Machine-proven and accepted in Indian Markets
FREEZERS > HF 110
Designed for high ambient.
Outer casing is galvanized steel with baked-on paint finish for durability.
Inner liner in stucco aluminium(Rust free and Hygienic).
R134A Refrigerant -CFC Free.
Skin condenser.
Auxiliary condenser for better cooling.
Puf insulation of 60mm thickness for higher
retention of cooling inside the freezer.
Energy saver compressor -Danfoss make.
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4-star rating(Highest for freezer)
Higher capacity system for fast pull-down of temperature
Adjustable thermostat
CHAPTER 5
RESEARCH METHODOLOGY.
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RESEARCH METHODOLOGY
Managers need information in order to introduce products and services that create
value in the mind of the customer. But the perception of value is a subjective one,
and what customers value this year may be quite different from what they value next
year. As such, the attributes that create value cannot simply be deduced from
common knowledge. Rather, data must be collected and analyzed. The goal of
marketing research is to provide the facts and direction that managers need to make
their more important marketing decisions. To maximize the benefit of marketing
research, those who use it need to understand the research process and its
limitations.
Marketing Research vs. Market Research
These terms often are used interchangeably, but technically there is a difference.
Market research deals specifically with the gathering of information about a
market's size and trends. Marketing research covers a wider range of activities.
While it may involve market research, marketing research is a more general
systematic process that can be applied to a variety of marketing problems.
The Value of Information
Information can be useful, but what determines its real value to the
organization? In general, the value of information is determined by:
The ability and willingness to act on the information.
The accuracy of the information.
The level of indecisiveness that would exist without the
information.The amount of variation in the possible results.
The level of risk aversion.
The reaction of competitors to any decision improved by the
information.
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The cost of the information in terms of time and money.
The Marketing Research Process
Once the need for marketing research has been established, most
marketing research projects involve these steps:
1. Define the problem
2. Determine research design
3. Identify data types and sources
4. Design data collection forms and questionnaires
5. Determine sample plan and size
6. Collect the data
7. Analyze and interpret the data
8. Prepare the research report
Problem Definition
The decision problem faced by management must be translated into a market
research problem in the form of questions that define the information that is required
to make the decision and how this information can be obtained. Thus, the decision
problem is translated into a research problem. For example, a decision problem may
be whether to launch a new product. The corresponding research problem might be
to assess whether the market would accept the new product. The objective of the
research should be defined clearly. To ensure that the true decision problem is
addressed, it is useful for the researcher to outline possible scenarios of the research
results and then for the decision maker to formulate plans of action under each
scenario.
Research Design
Marketing research can classify in one of three categories:
Exploratory research
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Descriptive research
These classifications are made according to the objective of the research. In some
cases the research will fall into one of these categories, but in other cases different
phases of the same research project will fall into different categories. Exploratory
research has the goal of formulating problems more Precisely, clarifying concepts,
gathering explanations, gaining insight, eliminating impractical ideas, and forming
hypotheses.
Exploratory research can be performed using a literature search, surveying certain
people about their experiences, focus groups, and case studies. When surveying
people, exploratory research studies would not try to acquire a representative
sample,
Whether the data is useful in the research study.
How current the data is and whether it applies to time period of interest. Errors and
accuracy - whether the data is dependable and can be verified.
Presence of bias in the data. Specifications and methodologies used, including data
collection method, response rate, quality and analysis of the data, sample size and
sampling technique, and questionnaire design. Objective of the original data
collection.
Nature of the data, including definition of variables, units of measure, categories
used, and relationships examined.
Primary Data
Often, secondary data must be supplemented by primary data originated specifically
for the study at hand. Some common types of primary data are:
Demographic and socioeconomic characteristics
Psychological and lifestyle characteristics
Attitudes and opinions
Awareness and knowledge - for example, brand awareness
Intentions - for example, purchase intentions. While useful, intentions are not a
reliable indication of actual future behavior.
Motivation - a person's motives are more stable than his/her
behavior, so motive is a better predictor of future behavior than is past behavior.
21
event within the same time interval over time. Cohort analyses are useful for long-
term forecasting of product demand. Causal research seeks to find cause and affect
relationships between variables. It accomplishes this goal through laboratory and
field experiments.
Data Types and Sources Secondary Data
Before going through the time and expense of collecting primary data, one should
check for secondary data that previously may have been collected for other purposes
but that could be used in the immediate study. Secondary data may be internal to the
firm, such
as sales invoices and warranty cards, or may be external to the firm such as
published data or commercially available data. The government census is a valuable
source of secondary data.
Secondary data has the advantage of saving time and reducing data gathering costs.
The disadvantages are that the data may not fit the problem perfectly and that the
accuracy may be more difficult to verify for secondary data than for primary data.
Some secondary data is republished by organizations other than the original source.
Because errors can occur and important explanations may be missing in republished
data, one should obtain
secondary data directly from its source. One also should consider who the source is
and whether the results may be biased. There are several criteria that one should use
to evaluate secondary data. but rather, seek to interview those who are
knowledgeable and who might be able to provide insight concerning the relationship
among variables. Case studies can include contrasting situations or benchmarking
against an organization known for its excellence. Exploratory research may develop
hypotheses, but it does not seek to test them. Exploratory research is characterized
by its flexibility. Descriptive research is more rigid than exploratory research and
seeks to describe users of a product, determine the proportion of the population that
uses a product, or predict future demand for a product. As opposed to exploratory
research, descriptive research should define questions, people surveyed, and the
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method of analysis prior to beginning data collection. In other words, who, what,
where, when, why, and how aspects of the research should be
defined. Such preparation allows one the opportunity to make any required changes
before the costly process of data collection has begun.
There are two basic types of descriptive research: longitudinal studies and cross-
sectional studies. Longitudinal studies are time series analyses that make repeated
measurements of the same individuals, thus allowing one to monitor behavior such
as brand switching. However, longitudinal studies are not necessarily representative
since many people may refuse to participate because of the commitment required.
Cross-sectional studies sample the population to make measurements at a specific
point in time. A special type of cross-sectional analysis is a cohort analysis, which
tracks an aggregate of individuals who experience the same Behavior Primary data
can be obtained by communication or by observation. Communication involves
questioning respondents either verbally or in writing. This method is versatile, since
one needs only to ask for the information; however, the response may not be
accurate. Communication usually is quicker and cheaper than observation.
Observation involves the recording of actions and is performed by either a person or
some mechanical or electronic device. Observation is less versatile than
communication since some attributes of a person may not be readily observable,
such as attitudes, awareness, knowledge, intentions, and motivation. Observation
also might take longer since observers may have to wait for appropriate events to
occur, though observation using scanner data might be quicker and more cost
effective. Observation typically is more accurate than communication. Personal inte
rviews have an interviewer bias that mail-in questionnaires do not have. For
example, in a personal interview the respondent's perception of the interviewer may
affect the responses.
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CHAPTER 6
DATA ANALYSIS.
24
Market share of carrier in Pune market
Interpretation:-
Market share of carrier is less as compare to Bluestar and Voltas
Bluestar has highest market share i.e. 36%
Voltas has 28% market share
Carrier has 24% market share.
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Name of companies No of Respondents Market share in Pune
Carrier 36 24%
Blue star 54 36%
Voltas 42 28%
Other 18 12%
Total 150 100%
Number of deepfreezes user in various activity of firm for different
brands
26
Activity of
firm
Carrier Blue star Voltas Other
Ice-cream
parlous
19 25 22 12
Ice-cream
Dealer
07 08 10 02
Ice-cream
Manufactur
ers
02 05 03 01
Dairy shops 08 16 07 03
Total 36 54 42 18
Interpretation:-
Number of deepfreezer users in ice-cream parlour for Bluestar is more as
compare to carrier,Voltas and Other.
Number of deepfreezer users in ice-cream dealer for Voltas is more as
compare to Blustar Carrier, and Other.
Number of deepfreezer users in ice-cream manufacture for Bluestar is more
as compare to carrier,Voltas and Other.
27
Number of deepfreezer users in Dairy shop for Bluestar is more as compare
to carrier,Voltas and Other.
Total Existing deepfreezes of Carrier
28
Name of firm Total Existing
deepfreezes
Ice-cream parlous 19
Ice-cream Dealer 07
Ice-cream
Manufacturers
02
Dairy shops 08
Total 36
Interpretation:-
Existing deepfreezer is more in ice-cream parlour as compare to ice-cream
dealer,ice-cream manufacturers and dairy shops.
Total future requirem of Deepfreezer
29
Name of firm Total Future
Requirement of
deepfreezes
Ice-cream parlous 14
Ice-cream Dealer 9
Ice-cream
Manufacturers
3
Dairy shops 7
Total 33
Interpretation:-
Total future requirement of deepfreezer is more in ice-cream parlour as
compare to ice-cream dealer,ice-cream manufacturers and dairy shops.
Customer loyalty towards the company Brand.
30
Name of company
Brand
Total No of
Respondents
YES interested in
continuing
NOT interested in
continuing
Carrier 36 28 08
Bluestar 54 50 04
Voltas 42 28 14
Other 18 05 13
carrier
78%
22%
Yes
NO
Interpretation:-
The 78% of customers are interested in continuing with Carrier brand in
future and 22%of customers they are not intrested in continuing with Carrier
brand.
31
Name of company Yes NO
Carrier 28 08
Name of company Yes NO
Bluestar 50 04
Bluestar
93%
7%
Yes
NO
Interpretation:-
The 93% of customers are interested in continuing with Bluestar brand in
future and only 7%of customers they are not intrested in continuing with
Bluestar brand.
32
Name of company Yes NO
Voltas 28 14
Voltas
67%
33%
Yes
NO
Interpretation:-
The 67% of customers are interested in continuing with Voltas brand in
future and 33%of customers they are not intrested in continuing with Voltas
brand.
33
Name of company Yes NO
Other 05 13
Other
28%
72%
Yes
NO
Interpretation:-
The only 28% of customers are interested in continuing with Other
company brand in future and 72%of customers they are not intrested in
continuing with Other company brand.
CHAPTER 7
34
FINDINGS .
FINDINGS
35
According to data analysis,
Total number of existing deepfreezer users of Carrier is less as compare to
Bluestar and Voltas and more as compare to Other.
Total future requirement of deepfreezer is more in ice-cream parlour as
compare to ice-cream dealer,ice-cream manufacturers and dairy shops.
Customer loyalty of Carrier is more than Voltas and less than Bluestar
36
CHAPTER 8
LIMITATION
LIMITATION:-
37
Some of the major drawbacks that were faced during the course of thisstudy were as follows ,
The research was restricted to pune city.
Some of respondents denied answer to the questions.
Within two months it’s very difficult to cover all areas.
Limited Sources of data for collection of secondary data.
CHAPTER 10
38
RECOMMENDATION.
39
RECOMMENDATION :-
The Carrier having very high competition with Bluestar and Voltas.
Carrier need to make very strong net work in the market
Carrier should focus on various sale promotion activities and media advertising.
. Carrier should focus on proper planning, controlling will help overall
increase sale of product.
Carrier should focus on building a strong brand image in the minds of customer
40
CHAPTER 9
CONCLUSION .
CONCLUSION
41
Depending upon the applications of deepfreezer ,there is huge demand for
the deepfreezer in the market.
Most of the customer are using Bluestar and Voltas deepfreezer as compare
to Carrier ,because of Brand awareness.
Carrier is second position holder in customer loyalty in market.
42
CHAPTER 10
BIBLIOGRAPHY.
BIBLIOGRAPHY
Marketing Management -Philip Kotler.
Marketing Management - Dr. Rajan Saxena.
Research Methodology - C R Kothari.
43
CHAPTER 11
ANNEXURE.
Questionnaire
1) Name of the firm:-……………………………………………….
Address of firm:-…………………………………………...
45
2) Activity of the firm? Ice cream manufacturer / Dealer / parlour/Dairy shop
……………………………………………………………………...
3) No. of years in business?
……………………………………………………………………..
4) Which company’s deep freezer you are using?
a)Voltas b b)Bluestar c)Western d)Carrier
5) How many deepfreezer sets you have?
………………………………………………………………
6) Are you interested in buying new deepfreezer?
a) Yes b) No
7) Are you interested in continuing with our brand?
a) Yes b) No
8) Are you satisfied with company services?
a) Yes b) No
9) Would you like to give any Suggestions for company product/service?
46
…………………………………………………………………………
……………………………………………………………………………
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