Study of Consumer Perception and Brand Awareness of Siemens Refrigerators in Bangladesh

Today with technological advancement human race has achieved what few years back were impossible. Refrigerator, the thing that keeps specially food and drinks fresh has opened our door to keep life going in the industrial society without thinking of what will be our next day’s meal. When refrigerator was first introduced in Bangladesh, it was an expensive and fashionable item. It’s price has also gone down considerably and more people in the society can afford it. At present there are several marketers who are offering their product in the refrigerator market.

Among them Samsung, General, Whirlpool, Kelvinator, Shacklock, Toshiba, sharp, Rangs, Butterfly, are most widely known brand. And Siemens is one of the leading electrical and electronics manufacturing company in the world with global presence. Siemens refrigerator is basically a European brand with an international image. In Bangladesh it is targeting the niche market for their home appliance products commencing their marketing strategy as of their high quality and expensive products.

They do not do their marketing for the mass people, they do only for a particular group of people who has the ability to buy their product.

Since the standard of living of people in our country is going up, everybody is aware about a brand of a product and wants to buy a qualitative product for a longer period of time. Thus, consumer perception and brand awareness for refrigerator is now become a vital aspect when purchasing a refrigerator. Since the real life business situation is always very complex and competitive, every business has to face the intense competition and those who can successfully operate within this critical situation can become the blue cheap.

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To stay and increase the pace in the business track, the perception and brand awareness is very important. Brand awareness is the number of consumers or potential consumers who have knowledge of identity a particular brand. Brand awareness developed due to various reasons – Long experience of product used by own, friends, neighbors, relatives, Availability of other consumer products of same brand in the market. Regular advertisement in the local and satellite TV and ads in the in the local newspaper. Sponsoring of sports/game especially cricket.

Perception is the process by which a consumers uses information to create a meaningful picture of the world by selecting, organizing, interpreting. Perception is important because people selectively perceive what they want and it affects how people see risks in a purchase. Both perception and brand awareness are very important to take strategic decision for advertisement and marketing campaign. Because this gives an idea about the position of the competitors among the consumers. The quality of the product and services begin with the consumer’s needs and ends with the consumer’s perception.

So the company who wants to be successful and to increase the market shares always has to be aware about consumer needs, wants and demands than any other things. And the consumer’s expectation, views and suggestions are the main directories for recovering the problems that they have. For this reason companies conduct marketing research and do some survey to know customers view, attitudes and awareness toward their product and to develop of their strategic decisions for advertising and campaigning. 1. 1 Objectives of the study 1. 1. 2 General Objective

The objective of the study is to find out the perception and brand awareness of the consumer towards Siemens refrigerator in Bangladesh. The research is focused on the perspective of the consumer and their views towards refrigerator, what are their needs and wants. Specific Objectives Within the framework of the general objective of the study, the specific objectives are: To find out whether refrigerator of Siemens brand is popular among the consumers in the refrigerator market? To investigate Consumers requirements and demands To see whether the advertisement of Siemens refrigerator is effective.

To find out what makes a refrigerator attractive to its user. 1. 1. 4 Significance of the study The reasons for conducting this research is to find out the attitude and perception of the consumer towards Siemens refrigerator and what are the problems related to it and what the management of Siemens can do to improve it and gain or increase the market share. 1. 2 Hypothesis “The Siemens refrigerator is popular or not among the consumers in the refrigerator market. ” 1. 3 Methodology Study approach: The study is explorative in the context of Bangladesh for the aspects focused mainly on SBL.

However, it can also be termed as descriptive and analytical. Sample size: Sample sizes were approximately 40, which were selected for filling up the questionnaire. Sample selection: As survey was to be conducted, an initial plan for stratified sampling was designed. The respondents were to be picked from the following clusters- •The service holders or Businessmen including end users, decision makers and opinion leaders. •Housewives •Young generation or students from business school Once the strata were selected, convenient sampling procedure was adopted for the ease of data collection.

Data collection procedure: A detail questionnaire was formulated for collecting data. The questionnaire is distributed among randomly chosen respondent. Among the respondent the study is divided into two groups. One of them is consumers or user of Siemens refrigerator and the other group is non-user of Siemens refrigerator. The analysis is focused on four facts as the outcome. The outcomes are: •Identify whether the Siemens refrigerator is popular or not to the consumers. •Identify whether the current Siemens refrigerator users are satisfied with the product. To see whether the advertisement of Siemens refrigerators are effective. •To find out what makes a refrigerator attractive to its user. Sources of data: Majority of the study is based on primary data. However some secondary data source is used for background study. ?Primary Data collection sources were done by direct interview to the targeted respondents and by administering questionnaires through telephone and e-mail. ?Secondary Data were collected from books, published documents, survey reports, internet and journals. Analysis of Data: The analysis is done with both quantitative and qualitative procedure.

MS-Excel is used as the software for quantitative analysis. And the qualitative analysis is done based on the quantitative findings. 1. 4 Limitation and Constraints To complete the study I have faced some problems, which can be termed as the limitation/ constraints of the study. The problems were as follows: 1. Not having an accurate customer database in CP (Consumer Product) division that caused waste of time. 2. No response is obtained from a certain part of our samples. Some respondents did not feel any interest to give necessary information. 3.

The respondents at times complaint against the length of the questionnaire but as this study touched so many issues; there was no way to shorten it up. However, the complaint was managed efficiently. 4. Suggestions for improvement require more discrete data regarding the exact target audience against a particular communication message element. As this is yet to be developed suggestions are basically based on premonition and theoretical background. 5. It is quite difficult to complete for such research program for one person in a certain time limit. 6.

The researcher had to depend on personal interview for collecting data. Sometimes the executives were too busy to give time for the project. Data were also not sufficient to conduct the research effectively. 7. There was time limitation for this research project. That made difficult to get all information. 1. 5 Organization of the Report In this report, chapter 1 deals with the structure of the report and how the report has been prepared. Chapter 2 describes an overview of Siemens and particularly Siemens Bangladesh Limited. Chapter 3 presents the analysis of data collected for the study.

And interview questionnaire have been attached in appendices. Chapter Two 1. About Siemens AG SIEMENS Founded in: October 1847, at Berlin in Germany. Founder: Werner von Siemens & Johann George Halske Named as: Telegraphen-Bauanstalt von Siemens & Halske Formed in 1847, the company Telegraphenbauanstalt von Siemens & Halske grew within the space of a few decades from a small precision-engineering workshop, producing mechanical warning bells for railways, wire installation made of gutta-percha, and electrical telegraph systems, into one of world’s largest companies in electrical engineering and electronics.

Landmark inventions, an immense readiness to innovate, and a strong international commitment have driven the company’s success since its very beginnings. When in 1866 Werner Siemens (known as Werner von Siemens after 1888) discovered the dynamoelectric principle, the potential applications for electricity were limitless. Heavy-current engineering began to develop at a breathtaking pace, producing one triumphant innovation after another: In 1879, Siemens & Halske presented the first electric railway and installed the first electric streetlights in Berlin; in 1880 came the first electric elevator; and in 1881 the streetcar.

Following the death of the company’s founding father, Werner von Siemens, in 1892, his successors followed the course he had set, constantly advancing the company with trailblazing innovations. Lighting, medical, engineering, wireless communication, and, in the 1920s, household appliances, were follower after World War II by components, data processing systems, automotive systems and semiconductors.

The guiding principle that had applied since the company’s beginnings – of concentrating solely on electrical engineering, “but on the whole of electrical engineering” – helped make Siemens the only company in its industry to operate in both light- and heavy-current electrical engineering, and by the mid-1920s it was again one of the world’s five leading companies in its field. When the National Socialists seized power, Siemens, like the rest of German industry, was drawn into the system of the war economy, though to 1944, higher state demand and military orders led to substantial increases both in sales and in the size of the workforce.

In order to fill its manufacturing quotas, Siemens partly used forced labor. After World War II, Siemens began rebuilding in Germany first, but gradually moved into foreign countries from the 1950s on. Technological advances, expansion into new business segments, and the reestablishment of a presence in traditional export markets laid the foundations for the company’s return to its old strength in the world marketplace in the 1960s.

To give the company a stronger identity and consistent market presence, Siemens & Halske, Siemens-Schuckertwerke AG, and Siemens-Reininger-Werke AG, the three main companies in the group, merged in 1966 to from Siemens AG. In 1969, the company’s main business segments were assigned to six largely independent operating groups, creating an organizational structure that has been adapted on numerous occasions through to the present day. Today, Siemens is a transparent organization comprising fast-acting business units that are making important and significant contributions to the future of electrical engineering and electronics. . Principles of Siemens Siemens strengthens its CUSTOMERS-to keep them competitive Siemens’ success depends on the success of its customers. It provides its customers with its comprehensive experience and solutions so it can achieve its objectives fast and effectively. Siemens pushes INNOVATION – to shape the future Innovation is its lifeblood, around the globe and around the clock. It turns its people’s imagination and best practices into successful technologies and products.

Creativity and experience keep it at the cutting edge. Siemens enhances company VALUE – to open up new opportunities It generates profitable growth to ensure sustainable success. It leverages our balanced business portfolio, its business excellence and synergies across all segments and regions. This makes it a premium investment for its shareholders. Siemens empower its PEOPLE – to achieve world-class performance Its employees are the key to its success. It works together as a global network of knowledge and learning.

Its corporate culture is defined by diversity, by open dialogue and mutual respect, and by clear goals and decisive leadership. Siemens embraces corporate RESPONSIBILITY – to advance society Its ideas, technologies and activities help create a better world. It is committed to universal values, good corporate citizenship and a healthy environment. Integrity guides its conduct toward its employees, business partners and shareholders. 3. Company Overview Siemens Bangladesh Limited Siemens has been operating around the globe in 190 countries with a work force of, 443,000 employees.

It’s headquarter is in Germany, named Siemens AG. Siemens Bangladesh Limited is fully (100%) owned by Siemens AG. Siemens’ association with Bangladesh began from 1956, and since then Siemens Bangladesh Limited has been involved in a number of Bangladesh’s major modernization efforts. They have been active in railway projects in the country since 1962. In 1968, they were privileged to become the first direct foreign investor to start a joint venture with the government of Bangladesh to manufacture telephone switches and sets.

Siemens Bangladesh Limited started operating its business in Bangladesh as a part of its global operation from 15th February, 1974, with three core areas of business. The principle activity of the company is marketing and servicing of power products, telecommunication and medical equipments. Since then the company had been diversifying and expanding its business areas, and continuing its success in the field of information and communication, automation and drive, power generation and distribution, medical systems, lighting systems and home appliances.

Siemens a company with 150 years of successful business in the field of electrical and electronic products, systems and solutions; throughout its history, extensive research and development efforts have enabled the company to channel effective ideas and solutions into business segments that that include information and communications, automation, power generation and distribution, medical systems, transportation and lighting. Today, Siemens is a trusted brand around the world. Siemens has a long history of innovation or, more precisely, of harnessing innovations to improve the live of the people in develop and developing countries alike.

For instance, consider the first telegraph line between London and Calcutta, completed in 1870 and covering a total of 11,000 kilometers. In Bangladesh, Siemens has been active in railway projects since 1962. Siemens’ success in power generation and supply is also outstanding. In 1967, it was actively involved in constructing the Ashuganj power plant and it has since manufactured a good business relationship with Bangladesh’s power sector. In a recent move, it begun marketing solar panels, which provide renewable energy to remote villages not yet linked to the country’s power grid.

It is also playing a very prominent role in providing mobile phone technology in Bangladesh by helping establish the country’s mobile network infrastructure and providing mobile handsets for hundreds of thousands of mobile users. During the course of the last 40 years Siemens Bangladesh Limited (SBL) has established itself as a leader in the communications, transportation, medical equipment, power generation, power distribution, Information Technology, lighting and photovoltaic sectors of the electrical and electronics market. So, in any particular day people would find Siemens all around them from morning till night.

To relay its commitment to doing business in Bangladesh for the long term, because it has tremendous faith in the country’s potential for development as well as to convey its conviction that it can provide whatever technological solutions its customers in Bangladesh will need for their modernization efforts, it has moved its corporate headquarters from Motijheel to a “state-of-the art” building in Gulshan Avenue. This new office building stands as an indicator of Siemens’ renewed pledge to its enduring relationship with Bangladesh.

Rudolf Paul Klink the present Managing Director and CEO of Siemens Bangladesh Limited. 4. Portfolio of Siemens Bangladesh Limited “A product spectrum of universal scope” is what distinguishes siemens from others. The range includes over 100,000. Siemens’ business portfolio comprises the following business areas: Information and Communication, Automation and control, Power, Transportation, Medical, Lighting and Home Appliance. The individual groups within these areas are responsible for their own worldwide operations, with regional units around the globe supporting their efforts.

Siemens Bangladesh Limited has related diversification and their product ranges are divided into different product lines. This decentralized structure gives the greatest degree of entrepreneurial responsibility and the ability to nurture the closest possible ties to their customers. Cross-Group and cross regional cooperation is crucial for the success of our GLOBAL NETWORK OF INNOVATION. At the same time, it enables Siemens to provide comprehensive, customer-focused products, solutions and services for the local market.

The Siemens Building Technologies (SBT) group is now also present in Bangladesh and is providing a total solution combining fire detection, building automation and security systems, together with a power supply solution for industries, commercial buildings and infrastructure project. 4. 1. Information and Communications With the Next Generation Network, Siemens builds a highly scalable, flexible and open infrastructure that enables people and organizations to communicate more effectively and more creatively than ever.

Under one roof, Siemens can provide the entire range of solutions to meet the information and communications needs of Bangladesh. Its information and communications business comprises three Groups: Information and Communications Mobile (ICM); Information and Communications Networks (ICN); and Siemens Business Services (SBS). Their aim is to become the market leader in the mobile communications industry. They are the only company in the world with core competencies in the three fundamental technologies involved: next generation Internet, wireless communications and advanced electronics.

This unique combination enables to offer the full array of mobile business solutions from a single source, ranging from innovative voice, data and video communications equipment for end users to complete networks, tailored applications and a comprehensive range of services. Operating through these three Groups, Siemens provides its customers all kinds of products and services for information and communication, catering fixed line network, mobile network, broadband network for making attractive bottom line of its customers with top priority .

Its products and services include fix4ed line switch, mobile switching system, PABX, Access Network, Transmission equipments, phones, pay-phones, voice mail system, local area network, complete with routers, servers, optical fibers and accessories. In 1968, it entered the communications business in Bangladesh with two milestone projects: Telephone Shilpa Shangstha (TSS) and Bangladesh Cable Shilpa Limited. These projects marked the beginning of direct foreign investment in this country. For quite some time, Siemens has been the largest single foreign investor in Bangladesh.

Present collaboration with TSS includes phones, digital PABX, payphones and copper joints and distributors. Siemens is the first to introduce modern ISDN PABX of Hicom series and fixed phones (DTMF, DP and DECT standard). And now it is progressing toward introducing Siemens Digital EWSD switching system for fixed line network and mobile network. With successes in telecommunications, it started marketing Intel based servers, RISC-based servers, networking products and applications software.

Fujitsu Siemens computers have full range of IT products including high-end servers, high quality notebook and PCs. 4. 2 Automation and Control The Automation and Control Segment comprise four Groups: Automation and Drives, Industrial Solutions and Services, Siemens Production and Logistics Systems and Siemens Building Technologies. Siemens is the world’s largest supplier of products, systems, solutions and services in the industrial and building technology sectors. It helps its customers optimize their business and production processes, enabling them to improve their profitability and efficiency.

The Groups cooperate using the latest information technology and thus develop synergies for their four main markets: manufacturing, process, building and logistic automation. . Siemens’ four Groups in this segment offer different types of industry-related products and services: Automation and Drives (A&D) provides totally integrated automation, as well as drives and installation systems solutions from a single source for the manufacturing and process industries; Production and Logistics Systems (PL), for production-line and factory automation systems; and Industrial Solutions and Services (I&S) and Siemens Building Technology (SBT).

Siemens Bangladesh has been involved in the complete process automation of beverage factories, cement plants, paper, and textile, steel, chemical and packaging industries. It offers computerization of an entire factory, where one can see activities of the entire plant as well as control the entire factory from a single personal computer. For power plants Siemens supplies PLC based motor control center as well as AC and DC drives.

For today’s industries Siemens can provide cost effective solutions. Siemens offers reliable and durable Magnetic Contactors, Motor Protection, Circuit Breakers, Overload Relays, Timers and Sensors that are sensitized to tripping. Siemens have introduced Siemens Building Technologies (SBT) systems in Bangladesh, providing integrated solutions combining fire detection, building automation and security systems for high-rise buildings as well as industrial facilities.

Siemens’ Industrial Solutions and Services (I&S) business in Bangladesh focuses mainly on the process industries. Among the Group’s successful ventures was the installation of paper-machine driving systems at Khulna Newsprint Mill, North Bengal Paper Mill, Sylhet Pulp and Paper Mill and the installation of a 33/6. 6 KV substation at the Maddhapara Hard Rock Mining Project. 4. 3 Transportation The Transportation segment comprises two Groups: Transportation Systems (TS) and Siemens VDO Automotive (SV).

Both Groups’ products and systems are designed to satisfy our societies’ need forever-greater mobility and to meet growing demands for environmentalcompatibility and improved performance. Siemens is an important driver in the development of new technologies and solutions; Transportation Systems is a world-leading system in the rail industry and provides products and services for the rail industry, including signaling and control systems, railway electrification systems, complete heavy rail systems including rapid transit systems and locomotives, light rail systems and other rail vehicles.

Siemens Automotive is one of the world’s largest suppliers of automotive electronics, it provides power train hydraulic and electronic equipment, safety and chassis electronics, driver supplemental electronic systems, and automotive electric motor drives. Siemens made its debut in the transportation business in this country in 1961, with a contract to install railway-signaling systems. Today, most of the signaling and relay interlocking systems used by Bangladesh Railways are from Siemens. Siemens has also supplied field equipment to Bangladesh Railways.

In addition to signaling and control systems, it provides systems for all areas of rail transportation, including rail electrification, rolling stock and turnkey systems. 4. 4. Power Generation The Transportation segment comprises two Groups: Transportation Systems (TS) and Siemens VDO Automotive (SV). Both Groups’ products and systems are designed to satisfy our societies’ need forever-greater mobility and to meet growing demands for environmental compatibility and improved performance. In power generation area, they have a worldwide customer base for their fossil-fueled, hydroelectric, nuclear and renewable-energy power plants.

They also build key components such as turbines and generators at our production facilities throughout the world. The acquisition of the power generation business of Westinghouse in the United States has helped position them as the largest builders of non-nuclear power stations in the world. In Bangladesh, their presence in the power generation sector goes back more than 30 years and our activities here have always been highly successful. In 1968, we completed the instrumentation, controls, substations and other electrical equipment installations for both units of the Ashuganj Power Station.

We also established three steam-generating plants each at the Khulna Newsprint Mill, North Bengal Paper Mill, and Sylhet Pulp and Paper Mill. Since 1998, they have been marketing electric motors and diesel generation sets in Bangladesh. In power transmission and distribution area, we develop, manufacture and market equipment, components and systems to transmit and distribute power to end-users. Siemens is a principal supplier of high-, medium-, and low-voltage switchboards and switchgear control and load-flow management systems and protection for industrial customers and utilities in over 100 countries around the world.

In Bangladesh, at our switchboard factory at Tongi, we manufacture medium- and low- voltage switchboards, power factor correction plants and motor control centers. In addition, we market Siemens’ busway systems, cable systems, transformers and lighting systems for industrial facilities and high-rise commercial buildings. We also have a strong and successful presence in the solar photovoltaic market. 4. 5 Medical Solutions With over 7,000 products, Siemens is the largest manufacturer of medical engineering devices in the world. Two-thirds of its products are less than three years old, and it applies for a new patent almost every day.

Its offerings extend from innovative technologies for speedy diagnosis to services that optimize processes and increase efficiency in hospitals and doctor’s offices. Siemens committed to providing solutions with the highest level of quality for diagnostics and therapies, and the maximum cost-effectiveness. In Bangladesh Siemens has the largest installed base of X-ray machines. Other major medical systems available in Bangladesh include CT, MRI, angiocardiagram, ultra sonogram, litho, ventilator, gamma camera (NM), simulator, linear accelerator, and OT light.

Siemens has also started to market our hearing solutions in Bangladesh. Responsibility of Siemens doesn’t end right after selling equipments or a solution. Siemens also carries out project planning for the clients that include room-planning, site planning as well counseling about the equipments, before actually installing and commissioning the necessary Siemens medical equipment for the clients. However, that’s not all. It also provides after- sales service, which includes full maintenance of the equipments and solutions, including providing training on use of the equipments. 4. 6 Lighting

Osram, a subsidiary of Siemens AG, is a name known around the world in the lamp and lighting business. More than 5000 different OSRAM lamps and lighting systems provide light for a new and better view of our world, for greater security, safety and comfort, for progress in science, technology and medicine. And they also save valuable resources. The company manufactures as many as 5,000 types of lamps and lighting systems, which are energy saving and have a reputation for high quality. Osram is one of the three largest lamp manufacturers in the world. Light from Osram shines in almost every country in the world.

In Bangladesh, Osram made its debut in the middle of 2001, and thereby became the only international lighting option in the market. Initially, two types of lamps – clear light bulbs (GLS) and fluorescent tube light (FTL) – are being introduced to meet the growing demand for such lamps in Bangladesh. Currently, the number of the bulbs and tubes manufactured locally does not meet demand. Osram aims to bridge that gap and to acquaint customers in Bangladesh with long-life, economical, world-class lamps. Osram with its wide- spread lighting range offers solutions to all possible lighting needs of a modern society at a highly competitive price.

Today Osram lights can be found everywhere, starting from the Floodlights of the National Stadium in Dhaka to the railway signals of the Bangladesh railways 4. 7 Home Appliances Siemens has long been synonymous with quality, technical innovation and design in domestic appliances. Our intelligent solutions bring enhanced levels of safety and convenience to your home. Small appliances designed by F. A. Porsche, powerful vacuum cleaners, irons featuring our unique “motor steam” technology, air conditioners with their cool, clean lines- these are just some of the products that have made us No. in homes in Germany and one of the leading brands in Europe. Keeping pace with the needs and changing lifestyle of the people of Bangladesh, they are opening new businesses in this country. One such business is Home Appliances. The highlight of their product is that they feature highly sophisticated yet environmentally friendly technology. Siemens has first introduced a combination of small and large appliances in the market. The small appliances currently available range from toasters to egg boilers and the major appliances include refrigerators, freezers, vacuum cleaners, washing machines, dryers and cooking range.

Very soon we plan to introduce other products including air conditioners and upright freezers, which would be the first of its kind in the country. These products are on display at the exhibition hall and also at their six exclusive showrooms located throughout the country. The sole authorized distributor of Siemens consumer products is Lipro. Very recently they have inaugurated another showroom at Gulshan 1. 5. Mission, Vision & Objective of Siemens Bangladesh Limited (SBL) Mission: “To grow and increase value by implementing advanced technologies, new products and services to provide excellent solutions to satisfy customers’ requirements. Vision: “To provide the best solution and equipment for the customers. ” Goal: “To achieve market leadership, profitability, good corporate citizenship and a sustainable growth. ” Objectives: “The main objective of the company is to increase the market share in related diversified products and solutions in Bangladesh and to assure the potential customers of the quality and durability of the products. Although the products are a bit highly priced but it is the best bargain that money can buy. ” 6. The Company’s Competitive conditions Industry Analysis SWOT Analysis Strengths: ?Wider product range Strong local presence ?Favorable brand image ?Comprehensive knowledge of the total market and client ?Good quality and top quality of products with solution ?Made in Germany and standard is maintained by them ?Using advance high-tech technology ?Because of long term experience, customers reliability and loyalty ? Efficient after sales service. Weakness: ?Lack of brand awareness ?Higher tax on home appliances ?Lack of consistency in promotional activities ?Less competitive price; competitor sourcing product at cheaper price ? Less organized distribution ?Less compliance to market demand Parts are not always available ?Limited showroom Opportunities: ?The major three sources of barriers to new entry are to gain: brand loyalty, absolute cost advantage, economy of scale and governmental regulation. Among those, Siemens Bangladesh Limited has the brand loyalty because it has gained its experience in this field for more than 150 years worldwide, as well as its presence in Bangladesh since 1956. Besides, it created brand loyalty throug

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Study of Consumer Perception and Brand Awareness of Siemens Refrigerators in Bangladesh. (2019, Jun 20). Retrieved from https://paperap.com/paper-on-essay-study-consumer-perception-brand-awareness-siemens-refrigerator-2/

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