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INTRODUCTION

It is the distinguished and unique function of the business, it has been defined as "the process
in a society by which the demand structure for economic goods and services is anticipated or
enlarged and satisfied through the conception, promotion, exchange and physical distribution
of such goods and services"

Marketing is often described as "every ones business". This is true because marketing is
capable of influencing the lives of everyone and every day its application is most vital for all
organizations, whether they are profit making or nonprofit making. Marketing is the crucial
deciding point at which activities of an organization meet the approval or disapproval of
customers from every walk of life. It is both a philosophy and technology.

As a philosophy it guides and directs the business thinking in certain economic


circumstances, as a technology it is concerned with deciding what should be produced, how
and when products could be most effectively distributed among the customers. Therefore it is
true to say that marketing is a 'Social technology'.

A high level of marketing activity is a prerequisite for high level of economic activity. It has
been appropriately remarked "nothing happens until somebody sells something".

At present the urgency is for increased marketing and not merely for increasing production.
This alone shows the importance of marketing as a potential force that commands high
significance for the society as a whole.

It is a measure of how products and services supplied by a company meet or


surpass customer expectation. Customer satisfaction is defined as "the number of customers
or percentage of total customers, whose reported experience with a firm, its products, or its
services (ratings) exceeds specified satisfaction goals."

It is seen as a key performance indicator within business and is often part of a Balanced
Scorecard. In a competitive marketplace where businesses compete for customers, customer

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satisfaction is seen as a key differentiator and increasingly has become a key element of
business strategy

"Within organizations, customer satisfaction ratings can have powerful effects.


They focus employees on the importance of fulfilling customers' expectations. Furthermore,
when these ratings dip, they warn of problems that can affect sales and profitability. These
metrics quantify an important dynamic. When a brand has loyal customers, it gains positive
word-of-mouth marketing, which is both free and highly effective.

As AT&T and Verizon, participate in an industry that is an oligopoly, where only a few
suppliers of a certain product or service exist. As such, many cell phone plan contracts have a
lot of fine print with provisions that they would never get away if there were, say, 100 cell
phone plan providers, because customer satisfaction would be far too low, and customers
would easily have the option of leaving for a better.

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NEED FOR THE STUDY
Customer satisfaction survey is a systematic process for collecting consumer data, analyzing
this data to make it into actionable information, driving the results throughout an organization
and implementing satisfaction survey is a management information system that continuously
captures the voice of the customer through the assessment of performance from the
customers’ point of view.

 In every company it is a fact, that the customer satisfaction plays a dominate role in
the process of the company.

 Unless the customer satisfaction elements (4ps) are systemized it becomes difficult to
improve the performance of the company.

 This is a modest attempt to understand the characteristics of satisfying the customers


of a company.

 There is every need to examine the above aspects in details and the intimate issues
which are to be brought to light.

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OBJECTIVES OF STUDY

 To identify the factors that influences the customers to avail the services of
LUMIRISE PVT LTD.
 To estimate the customer satisfaction levels with reference to LUMIRISE PVT LTD.
 To find out the impact of pricing of the product on customers satisfaction.
 To suggest suitable recommendations

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LIMITATIONS OF THE STUDY
1) Time factor was the main limitation for the study as the project was restricted to small
period.
2) The research was limited only to the Ravulapalem and its nearby areas so the result can’t
be generalized to the whole market.
3) The sample taken for research was concerned only for 50 customers rather than millions
of customers scattered in India.
4) Since the project has to be completed within a short period of time the information
collected could be biased.
5) Some of the premium segments could not be met due to time lack and by not obtaining
prior appointment due to tight schedule of the respondents.

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RESEARCH METHODOLOGY
Collection of data
One of the important tools for conduction market research is that availability of necessary and
useful data. Date collection is more of an art than a science. The methods of marketing
research are in a way the methods of data collection. The sources of information fall under
two categories.

Internal sources: Every company has to keep certain records such as accounts, reports
etc. these records provide sample information which an organization usually keeps collection
in its working.

External sources: When internal records are insufficient and required information is not
available, the organization will have to depend on external sources. Of data are.

a) Primary data: The data collected for a purpose in original and for the first time is
known as primary data. The researches collect this data to study a particular problem.

Here the primary data is data collected through questionnaire by directly meeting the
customers

b) Secondary Data: The data, which is collected from the published sources i.e., not
originally collected of the first rime is called secondary data.

Here the secondary data is data collected from the company’s brochures, pamphlets,
catalogues and the website.

Sampling
It is not always necessary to collect data from whole universe. A small representative sample
may serve the purpose. A sample means a small group taken in a large lot. This small group
taken in a large lot .This small group should be emanative cross section and really
“representative” in character. This selection process is called sampling

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Sample size
Samples are devices for learning about large masses by observing a few individuals. The
selected sample is 50.

Methods of Sampling
Random sample method
The method adopted here is random sampling method. A Random sample is one where each
item in th3e universe has as an equal chance of known opportunity of being selected.

Research Instrument
Questionnaire
A questionnaire is a carefully complied logical sequence of questr5ions directed to a define
objective. It is the outline of what information is required and the framework on which the
data is built upon. Questionnaire is commonly used in securing marker information that its
preparation deserves utmost skill and care.

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INDUSTRY PROFILE
Any machine that is powered by electricity is considered as an electrical equipment. Such
equipment usually consists of an enclosure, electrical components and a power switch that
actually works as a trigger for the machine. Major appliances, small appliances, micro-
controller and power tool all fall into the category of electrical equipment.

The power sector forms an integral part for the backbone of a developing nation. The
successful functioning of the power sector depends on the consistent supply of electrical
power through its network of high and low tension transmission lines, which in fact are the
arteries and veins of the power sector. Consistent transmission depends on strategically
placed transformers, capacitors and a host of other electrical equipment. So it is evident that
the electrical industry forms the core of the power sector of any country. In India, the
electrical industry is vast, estimated value Rs 1,10,000 crore (US$ 25 billion), in 2010-2011.
Some of the big names in this industry are Bharat Heavy Electricals Limited (BHEL),
Crompton Greaves Ltd, ABB Ltd. India and Alstom Limited India.

The Indian electrical industry is multifaceted, manufacturing a diverse range of products


which range from high technology equipment to low technology electrical components. The
electrical industry is also an employment intensive sector, providing direct employment to
5,00,000 people and a further indirect employment to about one million people. It is natural
that such a vast industry has sub-sectors. Sub-sectors mostly fall in the unorganized segment
and are responsible for the production of a varied range of electrical equipment. Depending
on the equipment manufactured, the electrical industry of our country can be broadly
classified into two categories namely the generation equipment category responsible for the
manufacturing of boilers, turbines and generators and the T&D category responsible for the
manufacture of transformers, transmission cables switch gears, capacitors etc.

A developing nation like India needs constant improvement of the infrastructure of the
electrical industry to maintain the consistent performance of the nation’s power sector which
in turn will ensure a constant economic development. The performance graph of our electrical
industry is highly inconsistent, as evident from the data that half yearly growth of the industry
of 14.6% in 2007-2008 declined to 8.57% in 2008-2009. This can be attributed partially to
the global economic crisis but still one encouraging aspect of the growth of the electrical
industry is that it recorded a positive growth curve in comparison to the global growth which

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recorded a negative fall of minus 2.02% in 2008 in comparison to the 2007 data. Evidently,
an intensive focus is necessary from the part of the Government on the betterment of the
electrical industry and the power sector as a whole.

The Ministry of Power has envisaged a number of policy reforms and legislative steps to
enhance the growth of the electrical industry and the power sector. Rajiv Gandhi Gramin
Vidyutikaran Yojana (RGGVY) is one such proposed project. The scheduled implementation
of the development plans outlined in the proposed projects of the Ministry of Power will
definitely prove to be a shot in the arm for the electrical equipment manufacturers of the
power sector. The Ministry proposed plans are also supposed to attract huge investments
from the FIIs and other investors thus opening up new avenues of larger business
opportunities for the electrical industry of India.

It is to be noted that the export growth rate of the electrical industry has increased
considerably in 2005-2008, growing at a Compound Annual Growth Rate (CAGR) of 57.28%
in comparison to the CAGR of 32.25% of the last decade. Despite the 2.02% slump in the
global electrical equipment market, power cables and switch-gears of the Indian electrical
equipment industry had a stake of 60% in the global market. Domestic market recorded a
growth in the Voltage and Power transformers (28.6 and 25.7, respectively) though there was
an overall decline of 6.04% in the electrical equipment market in the year 2008-2009. With
the correct implementation of the development plans of the Ministry of Power at the right
place and at the right time can bolster the current growth curve of the electrical industry
sector a phenomenal upward growth than can be expected to cross the INR 400 billion mark
by 2013.

The period of 2011 to 2013 has proved to be an extremely challenging phase for the electrical
equipment industry of India. The industry showed a positive growth curve of 9% in the first
half (H1) of 2011-2012. However, this was followed by a decline to 4.14% in the second
quarter (Q2) of FY 2012 from 13.82% in the first quarter (Q1) of FY 2012. Such
inconsistency in the performance of the industry can be attributed to a number of factors.
Imports have grown by nearly 20% from China, South Korea, Germany and other EU
countries. This significant influx in imports is seriously damaging the indigenous electrical
equipment industry. There has been a significant hike in the price of the imported raw
materials.

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The power distribution sector needs immediate reforms so the financial viability can be
maintained. Besides this, the reluctance of the electrical equipment industry to adapt to new
technologies is blunting its competitive edge. A similar reluctance is also observed in
promoting the R&D sector as evident from the recent data that only 1% of the net turnover of
the electrical equipment industry is allotted to R&D. All these facts are substantiated by Mr.
Ramesh Chandak, President (in 2012) of Indian Electrical and Electronics Manufacturers’
Association (IEEMA), an apex association of the manufacturers of electrical, industrial
electronics and allied equipment.

India has ambitious plans of enhancing the Indian electrical equipment industry to a level
where it can touch an output of $ 100 billion by 2022 and becoming a key player in the global
export market. A 2012-2022 mission plan has been launched by the Minister for Heavy
Industry Mr. Praful Patel. According to him, “It is imperative to build our own industry to
make it competitive for its global growth, also looking at ways and means to draw in more
investment.” He further added, “The size of the sector is growing, and companies can pool
their resources for investing in R&D (Research & Development) for moving ahead.”

An ambitious plan, to touch the US$ 100 billion mark, but a lot of reforms is long due on the
part of the Government. Government has to extend full cooperation to the electrical
equipment industry of India, take positive measures to curtail the internal losses, so that the
industry can be more self - sufficient, and innovative, more punctual in delivering projects
and be able to hone its competitive skills to that level where it can give a fair fight to the
overseas competition in both the domestic and the global market. Only then can the Indian
electrical equipment industry achieve its US$ 100 billion dream.

The Electrical Equipment Industry consists of companies that make a range of products for
a diverse customer base. This sector is fragmented, but there are a few members that lay
claim to a sizable portion of sales. Products include electrical motors, commercial and
industrial lighting fixtures, heating, ventilation and air conditioning systems and components,
and, among others, electrical power equipment. Operating structures involve high fixed costs.
Too, copper, aluminium and steel are essential raw materials used in the manufacture of
products. (Fluctuations in commodities prices can have an impact on the group's earnings
performance.) The industry spans all corners of the world, and it is subject to the influence of
the macroeconomic cycle.

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A Global Sector
Equipment companies primarily serve the mature markets of North America and Europe, but
they have found growth venues in the emerging world. Expansive global coverage helps to
smooth the effects of the broader business cycle. Capable management is required to oversee
long distribution networks and far flung operations. In recent years, companies have
established more overseas brick-and-mortar facilities, which has allowed them to better serve
local markets economically and limit the negative impact of foreign currency exchange.
Emerging nations have provided an impetus for growth and low-cost labor, production and
land.

Economic Factors
Top- and bottom-line trends in the industry often track the broad economic cycle. During
periods of prosperity, when they are flush with cash, customers are comfortable expanding
their capital budgets and spending on electrical equipment. At times, when there is
uncertainty as to the direction of the economy, those controlling the purse strings delay
spending decisions, which can hurt short-term operating results. When business conditions
are very challenging, customers may pull back dramatically on equipment orders. Companies
try to repair and replace equipment during regular, seasonal or cyclical slack periods. Often,
managers will attempt to extend the useful life of equipment as long as possible.

Key Business Indicators


There are some key indicators of the industry's prospects. The Institute of Supply
Management's Purchasing Managers Index provides a near real-time view of manufacturing
production, employment levels, new orders, supplier deliveries and inventory turnover. A
reading above 50 indicates expansion, and one below that figure marks a manufacturing
contraction. Durable Goods Orders, released by the U.S. Census Bureau, is another important
statistic. Such consumer goods last three years or more and are relatively expensive. Month-
to-month trends are a good indication of whether the economy is cycling up or down.
Additionally, the Federal Reserve Board regularly releases capacity utilization figures.
Utilization is high when demand is strong and low when demand is weak. Capacity
utilization rates above 80% suggest that equipment spending will rise; such levels may also
indicate that inflation will increase.

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Company-Specific Measures
Electrical equipment shipments, orders, and backlog provide a fairly accurate indication of an
individual company's sales prospects. Rising orders help to build backlog and lead to higher
shipments and sales. Order cancellations, however, can accelerate top-line declines. Plant
utilization lends insight to a company's pricing power and earnings potential. Also, product
quality and ease of integration (into manufacturing systems) will influence demand, pricing
and profits.

Operating efficiency is crucial for these companies to succeed. For the most part, the
industry's operating margin ranges from 10% to 20%. Some leaders achieve margins in the
30s and 40s, and a few, with profitability measures in the single digits, lag behind. Popular
efficiency and cost-reduction methods include Six Sigma, Lean Manufacturing, Best
Practices and common production platforms. Effective hedging strategies can bring volatile
commodity prices under control.

In most cases, research and development expense is less than 5% of sales. Nonetheless, R&D
outlays are important to the industry. Innovation allows a company to improve its competitive
position. Managements work to keep up with shrinking product life cycles and attain
standardization to maintain cohesiveness and save money.

Generally, net margins hew close to 10%. For equipment makers with little or no debt, net
margins about match operating margins. Those with significant debt obligations often have
net margins in the single digits. Managements tap the equity and debt markets, and use cash,
for expansion and acquisitions, depending on the comparative cost of capital and their
tolerance for risk.

The industry has a history of substantial merger and acquisition activity. Scale is important to
profitability. Only a handful of the companies included in our grouping have annual sales
below $1 billion. Acquisitions offer access to new markets and products, as well as ample
cost synergies. Usually, the larger the company and the more extensive the record of buy
outs, the less risk there is to investors.

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LED lamp

An LED lamp is an electric light or light bulb for use in light fixtures that produces light
using light-emitting diodes (LEDs). LED lamps have a lifespan and electrical
efficiency which are several times greater than incandescent lamps, and are significantly
more efficient than most fluorescent lamps, with some chips able to emit more than 300
lumens per watt (as claimed by Cree and some other LED manufacturers). The LED lamp
market is projected to grow by more than twelve-fold over the next decade, from $2 billion in
the beginning of 2014 to $25 billion in 2023, a compound annual growth rate (CAGR) of
25%. As of 2016, LEDs use only about 10% of the energy an incandescent lamp requires.

Like incandescent lamps and unlike most fluorescent lamps (e.g. tubes and compact
fluorescent lamps or CFLs), LEDs come to full brightness without need for a warm-up time;
the life of fluorescent lighting is also reduced by frequent switching on and off. The initial
cost of LED is usually higher. Degradation of LED dye and packaging materials reduces light
output to some extent over time.

Some LED lamps are made to be a directly compatible drop-in replacement for incandescent
or fluorescent lamps. An LED lamp packaging may show the lumen output, power
consumption in watts, colour temperature in kelvins or description (e.g. "warm white"),
operating temperature range, and sometimes the equivalent wattage of an incandescent lamp
of similar luminous output.

Most LEDs do not emit light in all directions, and their directional characteristics affect the
design of lamps, although omni directional lamps which radiate light over a 360° angle are
becoming more common. The light output of single LED is less than that of incandescent and
compact fluorescent lamps; in most applications multiple LEDs are used to form a lamp,
although high-power versions (see below) are becoming available.

LEDs, as their name suggests operate as diodes, and run on DC, whereas mains current
is AC and usually at much higher voltage than the LED can accept. Although low voltage
LED lamps are available LED lamps can contain a circuit for converting the mains AC into

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DC at the correct voltage. These circuits contain rectifiers, capacitors and may have other
active electronic components, which may or may not permit the lamp to be dimmed.

HISTORY
Before the introduction of LED lamps, three types of lamps were used for the bulk of general
(white) lighting:

 Incandescent lights, which produce light with a glowing filament heated by electric
current. These are very inefficient, having a luminous efficacy of 10-17 lumens/W, and
also have a short lifetime of 1000 hours. They are being phased out of general lighting
applications. Incandescent lamps produce a continuous black body spectrum of light
similar to sunlight, and so produce high Color rendering index(CRI).
 Fluorescent lamps, which produce ultraviolet light by a glow discharge between two
electrodes in a low pressure tube of mercury vapor, which is converted to visible light by
a fluorescent coating on the inside of the tube. These are more efficient than incandescent
lights, having a luminous efficacy of around 60 lumens/W, and have a longer lifetime
6,000-15,000 hours, and are widely used for residential and office lighting. However
their mercury content makes them a hazard to the environment, and they have to be
disposed of as hazardous waste.
 Metal-halide lamps, which produce light by an arc between two electrodes in an
atmosphere of argon, mercury and other metals, and iodine or bromine. These were the
most efficient white electric lights before LEDs, having a luminous efficacy of 75–100
lumens/W and have a relatively long bulb lifetime of 6,000-15,000 hours, but because
they require a 5 - 7 minute warm up period before turning on, are not used for residential
lighting, but for commercial and industrial wide area lighting, and outdoor security lights
and streetlights.

Considered as electric energy converters, all these existing lamps are inefficient, emitting
more of their input energy as waste heat than as visible light. Global electric lighting in 1997
consumed 2016 terawatt hours of energy. Lighting consumes roughly 12% of electrical
energy produced by industrialized countries. The increasing scarcity of energy resources, and
the environmental costs of producing energy, particularly the discovery of global
warming due to carbon emitted by the burning of fossil fuels, which are the largest source of

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energy for electric power generation, created an increased incentive to develop more energy-
efficient electric lights.

The first low-powered LEDs were developed in the early 1960s, and only produced light in
the low, red frequencies of the spectrum. The first high-brightness blue LED was
demonstrated by Shuji Nakamura of Nichia Corporation in 1994. The existence of blue LEDs
and high-efficiency LEDs led to the development of the first 'white LED', which employed a
phosphor coating to partially convert the emitted blue light to red and green frequencies
creating a light that appears white. Isamu Akasaki, Hiroshi Amano and Nakamura were later
awarded the 2014 Nobel Prize in Physics for the invention of the blue LED.

China further boosted LED research and development in 1995 and demonstrated its first LED
Christmas tree in 1998. The new LED technology application then became prevalent at the
start of the 21st century by US (Cree) and Japan (Nichia, Panasonic, Toshiba, etc.) and then
starting 2004 by Korea and China (Samsung, Kingsun, Solstice, Hoyol, etc.)

In the USA, the Energy Independence and Security Act (EISA) of 2007 authorized
the Department of Energy (DOE) to establish the Bright Tomorrow Lighting
Prize competition, known as the "L Prize", the first government-sponsored technology
competition designed to challenge industry to develop replacements for 60 W incandescent
lamps and PAR 38 halogen lamps. The EISA legislation established basic requirements and
prize amounts for each of the two competition categories, and authorized up to $20 million in
cash prizes. The competition also included the possibility for winners to obtain federal
purchasing agreements, utility programs, and other incentives. In May 2008, they announced
details of the competition and technical requirements for each category. Lighting products
meeting the competition requirements could use just 17% of the energy used by most
incandescent lamps in use today. That same year the DOE also launched the Energy Star
program for solid-state lighting products. The EISA legislation also authorized an additional
L Prize program for developing a new "21st Century Lamp".

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Philips Lighting ceased research on compact fluorescents in 2008 and began devoting the
bulk of its research and development budget to solid-state lighting. On 24 September
2009, Philips Lighting North America became the first to submit lamps in the category to
replace the standard 60 W A-19 "Edison screw fixture" light bulb, with a design based on
their earlier "Ambient LED" consumer product. On 3 August 2011, DOE awarded the prize
in the 60 W replacement category to a Philips' LED lamp after 18 months of extensive
testing.

Early LED lamps varied greatly in chromaticity from the incandescent lamps they were
replacing. A standard was developed, ANSI C78.377-2008, that specified the recommended
colour ranges for solid-state lighting products using cool to warm white LEDs with various
correlated colour temperatures. In June 2008, NIST announced the first two standards for
solid-state lighting in the United States. These standards detail performance specifications for
LED light sources and prescribe test methods for solid-state lighting products.

Also in 2008 in the United States and Canada, the Energy Star program began to label lamps
that meet a set of standards for starting time, life expectancy, colour, and consistency of
performance. The intent of the program is to reduce consumer concerns due to variable
quality of products, by providing transparency and standards for the labelling and usability of
products available in the market. Energy Star Certified Light Bulbs is a resource for finding
and comparing Energy Star qualified lamps. A similar program in the United Kingdom(run
by the Energy Saving Trust) was launched to identify lighting products that meet energy
conservation and performance guidelines.

The Illuminating Engineering Society of North America (IESNA) in 2008 published a


documentary standard LM-79, which describes the methods for testing solid-state lighting
products for their light output (lumens), efficacy (lumens per watt) and chromaticity.

In January 2009, it was reported that researchers at University of Cambridge had developed
an LED lamp that costs £2 (about $3 U.S.), is 12 times as energy efficient as a tungsten lamp,
and lasts for 100,000 hours.

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As of 2016, in the opinion of Noah Horowitz of the Natural Resources Defense Council, new
standards proposed by the United States Department of Energy would likely mean most light
bulbs used in the future would be LED.

Technology Overview
LED lamps are often made with arrays of surface mount LED modules (SMD modules) that
replace incandescent or compact fluorescent lamps, mostly replacing incandescent lamps
rated from 5 to 60 watts.

A significant difference from other light sources is that the light is more directional, i.e.,
emitted as a narrower beam.

White light
LED light used in photography

General-purpose lighting requires white light. The first LEDs emitted light in a very narrow
band of wavelengths, of a colour characteristic of the energy band gap of
the semiconductor material used to make the LED. LEDs that emit white light are made using
two principal methods: either mixing light from multiple LEDs of various colours, or using
a phosphor to convert some of the light to other colours.

RGB or dichromatic white LEDs use multiple LED chips emitting red, green, and blue
wavelengths. These three colours combine to produce white light. The colour rendering
index (CRI) is poor, typically 25 - 65, due to the narrow range of wavelengths emitted.
Higher CRI values can be obtained using more than three LED colours to cover a greater
range of wavelengths.

The second basic method uses LEDs in conjunction with a phosphor to


produce complementary colours from a single LED. Some of the light from the LED is
absorbed by the molecules of the phosphor, causing them to fluoresce, emitting light of
another colour via the Stokes shift. The most common method is to combine a blue LED with
a yellow phosphor, producing a narrow range of blue wavelengths and a broad band of

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"yellow" wavelengths actually covering the spectrum from green to red. The CRI value can
range from less than 70 to over 90, although a wide range of commercial LEDs of this type
have a colour rendering index around 82. Following successive increases in efficacy, which
has reached 150 lm/W on a production basis as of 2017, this type has surpassed the
performance of dichromatic LEDs.

The phosphors used in white light LEDs can give colour temperatures in the range of 2,200 K
(matching incandescent lamps) up to 7,000 K or more. Tuneable lighting systems employ
banks of coloured LEDs that can be individually controlled, either using separate banks of
each colour, or multi-chip LEDs with the colours combined and controlled at the chip level.

LED drivers

LED chips require controlled direct current (DC) electrical power and an appropriate circuit
as an LED driver is required to convert the alternating current from the power supply to the
regulated voltage direct current used by the LEDs.

LED drivers are the essential components of LED lamps or luminaries. A good LED driver
can guarantee a long life for an LED system and provide additional features such as dimming
and control. The LED drivers can be put inside lamp or luminaire, which is called a built-in
type, or be put outside, which is called an independent type. According to different
applications, different types of LED drivers need to be applied, for example an outdoor driver
for street light, an indoor point driver for a down light, and an indoor linear driver for a panel
light.

Thermal management

Compared to other lighting systems LEDs must be kept cool as high temperatures can cause
premature failure and reduced light output. Thermal management of high-power LEDs is
required to keep the junction temperature close to ambient temperature. LED lamps typically
include heat dissipation elements such as heat sinks and cooling fins and very high power
lamps for industrial uses are frequently equipped with cooling fans.

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Efficiency droop

The term "efficiency droop" refers to the decrease in luminous efficacy of LEDs as
the electric current increases above tens of milliamps (mA). Instead of increasing current
levels, luminance is usually increased by combining multiple LEDs in one lamp. Solving the
problem of efficiency droop would mean that household LED lamps would require fewer
LEDs, which would significantly reduce costs.

In addition to being less efficient, operating LEDs at higher electric currents creates higher
heat levels which compromise the lifetime of the LED. Because of this increased heating at
higher currents, high-brightness LEDs have an industry standard of operating at only
350 mA. 350 mA is a good compromise between light output, efficiency, and longevity.

Early suspicions were that the LED droop was caused by elevated temperatures. Scientists
proved the opposite to be true — that, although the life of the LED would be shortened,
elevated temperatures actually improved the efficiency of the LED. The mechanism causing
efficiency droop was identified in 2007 as Auger recombination, which was taken with mixed
reaction. In 2013, a study conclusively identified Auger recombination as the cause of
efficiency droop.

APPLICATIONS
LED lamps are used for both general and special-purpose lighting. Where coloured light is
needed, LEDs that inherently emit light of a single colour require no energy-absorbing filters.

BAPS Shri Swaminarayan Mandir Atlanta Illumination with color mixing LED fixtures

Computer-led LED lighting allows enhancement of unique qualities of paintings in


the National Museum in Warsaw.

White-light LED lamps have longer life expectancy and higher efficiency (more light for the
same electricity) than most other lighting when used at the proper temperature. LED sources
are compact, which gives flexibility in designing lighting fixtures and good control over the

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distribution of light with small reflectors or lenses. Because of the small size of LEDs,
control of the spatial distribution of illumination is extremely flexible, and the light output
and spatial distribution of an LED array can be controlled with no efficiency loss.

LEDs using the colour-mixing principle can emit a wide range of colours by changing the
proportions of light generated in each primary colour. This allows full colour mixing in lamps
with LEDs of different colours. Unlike other lighting technologies, LED emission tends to be
directional (or at least Lambertian), which can be either advantageous or disadvantageous,
depending on requirements. For applications where non-directional light is required, either a
diffuser is used, or multiple individual LED emitters are used to emit in different directions.

Household LED lamp


Disassembled LED-light bulb with driver circuit board and Edison screw

Lamp sizes and bases

LED lamps are made with standard lamp connections and shapes, such as an Edison
screw base, an MR16 shape with a bi-pin base, or a GU5.3 (bi-pin cap) or GU10 (bayonet
fitting) and are made compatible with the voltage supplied to the sockets. They include driver
circuitry to rectify the AC power and convert the voltage to an appropriate value, usually
a switched-mode power supply.

As of 2010 some LED lamps replaced higher wattage bulbs; for example, one manufacturer
claimed a 16-watt LED lamp was as bright as a 150 W halogen lamp. A standard general-
purpose incandescent bulb emits light at an efficiency of about 14 to 17 lumens/W depending
on its size and voltage. According to the European Union standard, an energy-efficient lamp
that claims to be the equivalent of a 60 W tungsten lamp must have a minimum light output
of 806 lumens.

A selection of consumer LED bulbs available in 2012 as drop-in replacements for


incandescent bulbs in screw-type sockets.

Some models of LED lamps are compatible with dimmers as used for incandescent lamps.
LED lamps often have directional light characteristics. These lamps are more power-efficient

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than compact fluorescent lamps and offer life spans of 30,000 or more hours, reduced if
operated at a higher temperature than specified. Incandescent lamps have a typical life of
1,000 hours, and compact fluorescents about 8,000 hours. The lamps maintain output light
intensity well over their lifetimes. Energy Star specifications require the lamps to typically
drop less than 10% after 6,000 or more hours of operation, and in the worst case not more
than 15%. LED lamps are available with a variety of colour properties. The purchase price is
higher than most other lamps, but the higher efficiency may make total cost of ownership
(purchase price plus cost of electricity and changing bulbs) lower.

High-power LED "corn cob" light bulb

Several companies offer LED lamps for general lighting purposes. The technology is
improving rapidly and new energy-efficient consumer LED lamps are available.

As of 2016, in the United States, LED lamps are close to being adopted as the mainstream
light source because of the falling prices and because 40 and 60 watt incandescent lamps are
being phased out. In the U.S. the Energy Independence and Security Act of 2007effectively
bans the manufacturing and importing of most current incandescent lamps. LED lamps have
decreased substantially in pricing and many varieties are sold with subsidized prices from
local utilities.

LED tube lamps

LED tube lights are designed to physically fit in fixtures intended for fluorescent tubes. Some
LED tubular lamps are intended to be a drop-in replacement into existing fixtures if
appropriate ballast is used. Others require rewiring of the fixtures to remove the ballast. An
LED tube lamp generally uses many individual Surface-Mounted LEDs which are directional
and require proper orientation during installation as opposed to Fluorescent tube lamps which
emit light in all directions around the tube. Most LED tube lights available can be used in
place of T8, T10, or T12 tube designations, T8 is D26mm, T10 is D30mm, in lengths of
590 mm (23 in), 1,200 mm (47 in) and 1,500 mm (59 in).

21
Lighting designed for LEDs

Newer light fittings designed for LED lamps, or indeed with long-lived LEDs built-in, have
been coming into use as the need for compatibility with existing fittings diminishes. Such
lighting does not require each bulb to contain circuitry to operate from mains voltage.

Plant
Experiments revealed surprising performance and production of vegetables and ornamental
plants under LED light sources. A large number of plant species have been assessed in
greenhouse trials to make sure that the quality of biomass and biochemical ingredients of
such plants is comparable with, or even higher than, those grown in field conditions. Plant
performance of mint, basil, lentil, lettuce, cabbage, parsley and carrot was measured by
assessing both the health and vigor of the plants and the success of the LEDs in promoting
growth. Also noticed was profuse flowering of select ornamentals including primula,
marigold and stock.

Light emitting diodes (LEDs) offer efficient electric lighting in desired wavelengths (red +
blue) which support greenhouse production in minimum time and with high quality and
quantity. As LEDs are cool, plants can be placed as close as possible to light sources without
overheating or scorching. This saves a large amount of space for intense cultivation.

Specialty
LED Flashlight replacement bulb (left), with tungsten equivalent (right)

White LED lamps have achieved market dominance in applications where high efficiency is
important at low power levels. Some of these applications include flashlights, solar-powered
garden or walkway lights, and bicycle lights. Monochromatic (coloured) LED lamps are now
commercially used for traffic signal lamps, where the ability to emit bright monochromatic
light is a desired feature, and in strings of holiday lights. LED automotive lamps are widely
used for their long life and small size (allowing for multiple bulbs), improving road safety.
LED lamps are also becoming popular in homes, especially for bathroom and medicine
cabinet lighting.

22
Energy Star qualification

Energy Star is an international standard for energy efficient consumer products. Devices
carrying the Energy Star service mark generally use 20–30% less energy than required by US
standards.

Energy Star LED qualifications:

 Reduces energy costs — uses at least 75% less energy than incandescent lighting, saving
on operating expenses.
 Reduces maintenance costs — lasts 35 to 50 times longer than incandescent lighting and
about 2 to 5 times longer than fluorescent lighting. No lamp-replacements, no ladders, no
ongoing disposal program.
 Reduces cooling costs — LEDs produce very little heat.
 Is guaranteed — comes with a minimum three-year warranty — far beyond the industry
standard.
 Offers convenient features — available with dimming on some indoor models and
automatic daylight shut-off and motion sensors on some outdoor models.
 Is durable – won't break like a bulb.

To qualify for Energy Star certification, LED lighting products must pass a variety of tests to
prove that the products will display the following characteristics:

 Brightness is equal to or greater than existing lighting technologies (incandescent or


fluorescent) and light is well distributed over the area lit by the fixture.
 Light output remains constant over time, only decreasing towards the end of the rated
lifetime (at least 35,000 hours or 12 annums based on use of 8 hours per day).
 Excellent color quality. The shade of white light appears clear and consistent over time.
 Efficiency is as good as or better than fluorescent lighting.
 Light comes on instantly when turned on.
 No flicker when dimmed.
 No off-state power draw. The fixture does not use power when it is turned off, with the
exception of external controls, whose power should not exceed 0.5 watts in the off state.
 Power factor of at least 0.7 for all lamps of 5W or greater.

23
ABOUT LUMIRISE PRIVATE LIMITED
Lumirise Private Limited is one of the leading manufacturer and supplier of the best class
outdoor and indoor L.E.D products. Lumirise has the great ability in advanced and
ultramodern infrastructure which is the most important factor behind development of the
company. Our products are developed keeping in mind longer horizon for consumer that each
product can be seen as a direct replacement of convectional lighting products with same light
output, saving considerable energy and getting the benefits of improved light quality. Behind
Lumirise, stands strong R&D team which is backbone of our organization supported by team
of dedicated engineers. we are working hard at making technology progress to let people
enjoy the change of new technology. Our excellent monthly production rate of 100000 Units
of LED products further makes us capable of meeting the sudden or bulk demands of
the customers.

Vision
To make Lumirise LED a household name in the lighting industry by 2020.

Mission
To design, manufacture and source the most energy efficient, high performance technology
while offering our customers unbeatable pricing and guarantee of high standard of quality.

Because Lumirise has been setting the standard for Products quality, reliability and
performance. And today we're about a lot more than tradition.
Consumer Products designs
that combine form and function like never before. Consumer Products that produce that wow
response whenever you enter a room. Products that express your personality that reflects your
lifestyle. Products that help you get the most out of your cooking, pumping, heating and
cooling investments. Meticulously engineered, hand crafted and built to last. Our
commitment to you to provide the best styles and the highest industry quality in Consumer
Products and accessories.

Strategy
LUMIRISE PRIVATE LIMITED’S key strategies are to build a robust product portfolio
across categories, explore growth opportunities globally, continuously improve its
operational efficiency, aggressively expand its reach to customers, continue to invest in brand
building activities and ensure customer and shareholder delight.

24
Transforming How You Feel in Your Home
Traditional craftsmanship. Tomorrow's innovations. Since more than 3 years, LUMIRISE
private Limited has pioneered new and smarter ways to circulate the air in your home. Learn
more about the advanced technologies and features behind our collection of beautiful, high-
performance consumer durables and lighting solutions

LUMIRISE electrical equipment have set the standard in quality and craftsmanship for more
than 3 years—and we apply the same principles to everything else we do. That's why you can
count on all of our products to help you transform your house into a stylish, comfortable,
healthy home that looks—and feels—exactly the way you want it to. Explore some of the
benefits of choosing LUMIRISE.

Craftsmanship
It's what sets LUMIRISE apart. It's at the heart of everything we put into our products. It's
why thousands of people in India have come to rely on LUMIRISE to provide comfort and
convenience

Style
With styles ranging from classic to contemporary, LUMIRISE products are designed to work
beautifully in today's homes. We use the finest materials to create stylish designs that will
add beauty to any room/home

Lasting Quality
LUMIRISE makes sure all our products are as tough on the inside as they are beautiful on the
outside.

Savings without Sacrifice


We all want a cleaner, greener planet, and LUMIRISE products can help. By using
LUMIRISE Products, you can significantly decrease your personal energy use without
sacrificing comfort

Consumer Products- Designed with You in Mind

Quiet for Life


Every LUMIRISE Consumer Product has been painstakingly designed and crafted to be more
than just beautiful, more than just another product. It's why our customers have come to
demand LUMIRISE performance time and time again

25
Built Better, Backed Better
LUMIRISE's product warranty besides is backed by excellent service network. So you get
peace of mind with every purchase.

Easy to Use/ Install


LUMIRISE Products are designed with easy to use/ install features that make it unique and
convenient.

26
INTRODUCTION TO CUSTOMER SATISFACTION
The aim of marketing in to meet and satisfy target customers needs and wants. The field of
"Consumer satisfaction" studies has individuals, groups and organizations select, boy and
dispose of goods, services, ideas or experiences to satisfy their needs and desires.

Understanding consumer behavior and "knowing customers" are never simple. Customers
may state their needs and wants but act otherwise. They may not be in touch with their deeper
motivation. They may respond to influence that change their mind at last minute.
Nevertheless, marketers must study their target customer's wants preferences and shopping
and buying behavior.

CUSTOMER SATISFACTION:
Satisfaction is a person feelings of pleasure or disappointment resulting from comparing a
products perceived performance (or outcome) in relation to his or her expectations.

-Kotler
Customer Satisfaction
The definition of customer satisfaction has been widely debated as organizations increasingly
attempt to measure it. Customer satisfaction can be experienced in a variety of situations and
connected to both goods and services. It is a highly personal assessment that is greatly
affected by customer expectations. Satisfaction also is based on the customer’s experience of
both contact with the organization (the “moment of truth” as it is called in business literature)
and personal outcomes. Some researchers define a satisfied customer within the private sector
as “one who receives significant added value” to his/her bottom line—a definition that may
apply just as well to public services. Customer satisfaction differs depending on the situation
and the product or service. A customer may be satisfied with a product or service, an
experience, a purchase decision, a salesperson, store, service provider, or an attribute or any
of these. Some researchers completely avoid “satisfaction” as a measurement objective
because it is “too fuzzy an idea to serve as a meaningful benchmark.”4 Instead, they focus on
the customer’s entire experience with an organization or service contact and the detailed
assessment of that experience.

27
For example, reporting methods developed for health care patient surveys often ask
customers to rate their providers and experiences in response to detailed questions such as,
“How well did your physicians keep you informed?” These surveys provide “actionable” data
that reveal obvious steps for improvement.

Customer satisfaction is a highly personal assessment that is greatly influenced by individual


expectations

Some definitions are based on the observation that customer satisfaction or dissatisfaction
results from either the confirmation or disconfirmation of individual expectations regarding a
service or product. To avoid difficulties stemming from the kaleidoscope of customer
expectations and differences, some experts urge companies to “concentrate on a goal that’s
more closely linked to customer equity.” Instead of asking whether customers are satisfied,
they encourage companies to determine how customers hold them accountable Customer
satisfaction, a business term, is a measure of how products and services supplied by a
company meet or surpass customer expectation. It is seen as a key performance indicator
within business.

Customer satisfaction depends on the product’s performance relative to a buyer’s expectation,


the customer is dissatisfied. If preference matches expectations, the customer is satisfied. If
preference is exceeds expectation, the customer is highly satisfied or delighted outstanding
marketing insurance companies go out of their way to keep their customer satisfied. Satisfied
customers make repeat purchases insurance products and tell other about their good
experiences with the product. The key is to match customer expectations with company
performance. Smart insurance company’s aim to delight customers by promising only what
they can deliver, then delivering more than the promise. Consumers usually face a broad
array of products and services that might satisfy a given need. How do they choose among
these many marketing makers offers? Consumers make choices based on their perception of
the value and satisfaction that various products and services deliver.

Customer value is the difference between the values the customer gains from owning and
using a product and the costs of obtaining the products customers from expectations about the
value of various marketing offers and buy accordingly. How do buyers from their

28
expectations? Customer expectations are based on past buying experiences, the opinion of
friends and marketer and competitor information and promises.

Customer satisfaction with a purchase depends on how well the product’s performance lives
up to the customers’ expectations. Customer satisfaction is a key influence on future buying
behavior. Satisfied customers buy again and tell others about their good experiences dies-
satisfied customers of ten switches to competitors and disparage the products to others. An
insurance provider open only to active duty, retired and separated military members and their
immediate families and therefore not included in the rankings, achieved a satisfaction ranking
equal to that any insurance company.

In general, customer satisfaction with auto insurance providers decreased significantly, with
20 of the 21 companies surveyed decreasing in satisfaction from the previous year. Insurance
is the only carrier that did not experience a decline in satisfaction. Though consumers report
their insurance carriers are resolving their claims and problems faster. Businesses survive
because they have customers who are willing to buy their products or services. However,
many businesses fails to “check in” with their customers to determine whether they are happy
or not and what it will make to make or keep them happy.

According to U.S consumers’ affairs department, it costs five times more to gain a new
customer than to retain an existing one. Other studies have repeated that with just a five
percent increase in Customer retention’s a firm can raise its profitability customers spend
salary at first, but with succeeding years of good experience, they will spend increasingly
more.

Depending on the industry and the nature of the bad experience, dissatisfied customers will
complain to 10 to 20 friends and acquaintances, which is three times more than those with
good experiences are. Hence, the negative information is influential, and consumers generally
place significant weight on it when making a decision. If that is not the reason enough, fierce
competitor is needed more and more to differentiate firms from one another. With technology
available to virtually every one today, the traditional features and cost advantages are no
longer relevant. Still product and service quality provides an enormous opportunity to
distinguish a firm from the rest. The Japanese have recognized this and have though us to

29
expect quality. Today’s consumers do, and they know more about products and services than
they ever did.

Customers are the best source of information. Whether to improve an existing product or
service or whether firms are planning to launch something new. There is no substitution for
“getting it from horse’s mouth” When you talk to your customer directly, to increase your
odds for achieving success you “mistake proof” your decisions and work on what really
matters. When you routinely ask the customers for feedback and involve them in business
they, in turn, become committed to the success of your business.

Why Organizations Focus on Customer Satisfaction


Businesses monitor customer satisfaction in order to determine how to increase their
customer base, customer loyalty, revenue, profits, market share and survival. Although
greater profit is the primary driver, exemplary businesses focus on the customer and his/her
experience with the organization. They work to make their customers happy and see customer
satisfaction as the key to survival and profit. Customer satisfaction in turn hinges on the
quality and effects of their experiences and the goods or services they receive.

Customer Satisfaction Measurement


A basic and effective base line customer satisfaction survey program should focus on
measuring customer perceptions of how will the company delivers on the critical success
factors and dimensions of the business as defined by the customers:

For example:
 Service Promptness

 Courtesy of Staff

 Responsiveness

 Understanding the customer problem, etc.

The findings of the company performance should be analyzed both with all customers and by
key segments of the customer population. The essential starting point for Customer
Satisfaction Measurement (CMS) is exploratory research. Since satisfaction is about an

30
organization’s ability. To meet customer requirement one has to start by clarifying with
customers exactly what those requirements are. This is done through exploratory research
using focus groups or one to one depth interviews.

Two main factors determine the accuracy of CMS. The first is the asking the right question
and the second is the asking them to the right people sample of customers which accurately
reflects the customer base.

Three things decide the accuracy of a sample. They are:

 It must be representative.

 It must be randomly selected.

 It must be adequate enough.

Measuring customer satisfaction


Organizations need to retain existing customers while targeting non-customers. Measuring
customer satisfaction provides an indication of how successful the organization is at
providing products and/or services to the marketplace.

Customer satisfaction is an abstract concept and the actual manifestation of the state of
satisfaction will vary from person to person and product/service to product/service. The state
of satisfaction depends on a number of both psychological and physical variables which
correlate with satisfaction behaviors such as return and recommend rate. The level of
satisfaction can also vary depending on other factors the customer, such as other products
against which the customer can compare the organization's products.

Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988
delivered SERVQUAL which provides the basis for the measurement of customer
satisfaction with a service by using the gap between the customer's expectation of
performance and their perceived experience of performance. This provides the researcher
with a satisfaction "gap" which is semi-quantitative in nature. Cronin and Taylor extended the
disconfirmation theory by combining the "gap" described by Parasuraman, Zenithal and

31
Berry as two different measures (perception and expectation) into a single measurement of
performance relative to expectation.

The usual measures of customer satisfaction involve a survey with a set of statements using a
Linker Technique or scale. The customer is asked to evaluate each statement in terms of their
perception and expectation of performance of the service being measured.

Marketing is the delivery of Consumer satisfaction at a profit. The goal of marketing in to


attract new customers by promising superior value to keep current customer by delivering
satisfaction. Many factories contribute to making a business successful. Great strategy,
dedicated employees, good information, system excellent implementation. If the market does
good job for understanding consumer needs develops products that standing consumer needs
develops products that provide superior value, prices distributor and promotes them
effectively these products will sell very easily.

"The aim of marketing is to making selling superfluous. The aim is to know and understand
the customer. So well that the product of service fit and sells itself."

Whether the buyer is satisfied after purchased depends on the offer's performance in relation
to the buyer's expectations. If the performance falls for short of expectations the customer is
dissatisfied. If the performance matches the expectations, the customer is satisfied. If the
performance exceeds expectations the customer is highly satisfied or delighted.

Although the customer centered firm seeks to create high customer satisfaction , that is not its
ultimate goal. If the company increase customer satisfaction by lowering its price or
increasing it. services, the results may be lower profits. The company might be able to
increase its profitability by means other than increased satisfaction.

Monitoring customer satisfaction:


Customers don't buy services as such they buy satisfaction hence service marketers must be
clear but the satisfying the customer is seeking out whether her is actually getting it.
Customer satisfaction can be monitored by using several methods including complaint and
suggestion system, customer surveys, comparison shopping etc.

32
Customer satisfaction index;
It is useful tool for finding customer's evolution of value delivery. What ultimately matters in
marketing is customer satisfaction on using the product. After using the product, does the
customer feel that the product has actually delivered the value he had perceived. In other
words does the product satisfy him as he originally expected. This is the ultimate test in the
value delivery process. Marketer use several tools to asses customer satisfaction level.
Customer satisfaction index is one such tool. Customer satisfaction index is an indicator of
customer satisfaction level. And with customer satisfaction index the marketer is able to
understand the perceived value of his offers.

VALUE CHAIN:
Michael porter of Harvard proposed the value chain as a tool for satisfying ways to create
more customer value. Every firm is a collection of activities that are performed to design,
market produce, deliver and its products. The value chain identify nine strategically relevant
activities that create value and cost in a specific business. These nine values creating
activities consist of 5 primary activities and 4 supporting activities.

 The primary activities are as following:

 Inbound logistics

 Outbound logistics

 Marketing

 Sales & Services.

The supporting activities are following

 Procurement

 Technology

 Development

 Human resource management.

33
CUSTOMER DEVELOPMENT PROCESS:
The starting point is suspects everyone is who might conceivably by the products and
services. The company looks hard at the suspects to determine who have a strong potential
interest in the product and the ability to pay for it. Disqualified prospects are those the
company rejects because they have poor credit and would be unprofitable. The company
hopes to convert may of its qualified prospects into first time customers, and then to convert
those satisfied first time customers into respect customers. Both first time customers and
respect customers may continue to from competitors as well. The company then acts to
convert repeat customers into clients. People whom the company treats very special and
knowledge. The next is to turn clients into members, by starting a membership program that
offers a whole set of benefits to customers who enthusiastically recommended the company
and its products and services to others. The ultimate challenges is to turn advocates into
partners, where the customers and the company work together actively.

Developing more loyal customers increases revenue, however the company has to spend
more to build grater customer loyalty. How much should a company invest in relationship
building we need to distinguish 5 different levels of investment in customer relationship
building.

1. Basic marketing

2. Reactive marketing.

3. Accountable marketing.

4. Proactive marketing.

5. Partnership marketing.

1) Basic marketing:
The sales person simply sells the product.

2) Reactive marketing:
The sales person sells the product and encourages the customer to call of he or she question,
comment, or complaint.

34
3) Accountable marketing:
The sales person the customer a short time after the sale to check whether the product is
meeting expectations. The sales person also asks the customer for any products or services
improvement suggestions and any specific disappointment. The information helps the
company continually improve its performance.

4. Proactive marketing:
The company sales person contacts the customer from time to with suggestions about
improved the product uses or helpful new product.

5. Partnership marketing:
The company works continually with the customer to discover ways to perform better.

Attracting Customers:
Today's customers are becoming harder to please. They are smarter, more price conscious,
more demanding, less forgiving, and they are approached by many more competitors with
equal or better offers. The challenge, according to Jeffrey Gitomer, is not to produce satisfied
customers; several competitors can do this. Te challenge is to produce delighted and loyal
customers. Companies seeking to expand their profits and sales have to spend considerable
time and resources searching for new customers. To generate leads, the company develops
ads and places them in media that will reach new prospect, it sends direct mail and makes
phone calls to possible new prospects; its salespeople participate in trade shows where they
find new leads; and so on. All this activity produces a list of suspects. The next task is to
identify which suspects are really good prospects, by interviewing the, checking on their
financial standing, and so on. Then it is time to send out the salespeople.

NEED FOR CUSTOMER RETENTION:


A company would be wise to measure customer satisfaction regularly, because the key to
customer retention is customer satisfaction.

A highly satisfied customer stays loyal longer, buys more as the company introduce new
products and upgrades existing products, talks favorably about the company and its products
pays less attention to competing brands and is less sensitive to price, offers products or
service idea to the company, and costs less to serve than new customers because transactions
are routine.

35
The best thing a company can do is to make it easy for the customer to complain. Suggestion
forms and toll-free numbers and e-mail addresses serve this purpose. The 3M complaints,
claims that over two thirds of its product improvement ideas come from listening to customer
complaints.

Listening is not enough, however. The company must respond quickly a constructively to the
complaints.

Measuring customer lifetime value:


The case for increasing the customer retention rate is captured in the concept of customer
lifetime value (CLV). Customer lifetime value (CLV) describes the present value of the
stream of future profits expected the customer's lifetime purchases. The company must
subtract from the expected revenues the expected costs of attracting, selling, and
servicing that customer. Various estimates have been made for different products and
services.

Of course, a company needs, in addition to an average customer estimate, a way of estimating


CLV for each individual customer. This is because the company must decide on how much to
invest in each customer.

Theoretical Ground
In literature antecedents of satisfaction are studied from different aspects. The considerations
extend from psychological to physical and from normative to positive aspects. However, in
most of the cases the consideration is focused on two basic constructs as customers
expectations prior to purchase or use of a product and his relative perception of the
performance of that product after using it.

Expectations of a customer on a product tell us his anticipated performance for that product.
As it is suggested in the literature, consumers may have various "types" of expectations when
forming opinions about a product's anticipated performance. For example, four types of
expectations are identified by Miller (1977): ideal, expected, minimum tolerable, and
desirable. While, Day (1977) indicated among expectations, the ones that are about the costs,
the product nature, the efforts in obtaining benefits and lastly expectations of social values.

36
Perceived product performance is considered as an important construct due to its ability to
allow making comparisons with the expectations.

It is considered that customers judge products on a limited set of norms and attributes.
Olshavsky and Miller (1972) and Olson and Dover (1976) designed their researches as to
manipulate actual product performance, and their aim was to find out how perceived
performance ratings were influenced by expectations. These studies took out the discussions
about explaining the differences between expectations and perceived performance."

In some research studies, scholars have been able to establish that customer satisfaction has a
strong emotional (i.e., affective component). Still others show that the cognitive and affective
components of customer satisfaction reciprocally influence each other over time to determine
overall satisfaction.

Especially for durable goods that are consumed over time, there is value to taking a dynamic
perspective on customer satisfaction. Within a dynamic perspective, customer satisfaction can
evolve over time as customers repeatedly use a product or interact with a service. The
satisfaction experienced with each interaction (transactional satisfaction) can influence the
overall, cumulative satisfaction. Scholars showed that it is not just overall customer
satisfaction, but also customer loyalty that evolves over time.

Construction:
Organizations need to retain existing customers while targeting non-customers. Measuring
customer satisfaction provides an indication of how successful the organization is at
providing products and/or services to the marketplace.

"Customer satisfaction is measured at the individual level, but it is almost always reported at
an aggregate level. It can be, and often is, measured along various dimensions. A hotel, for
example, might ask customers to rate their experience with its front desk and check-in
service, with the room, with the amenities in the room, with the restaurants, and so on.
Additionally, in a holistic sense, the hotel might ask about overall satisfaction 'with your stay.

As research on consumption experiences grows, evidence suggests that consumers purchase


goods and services for a combination of two types of benefits: hedonic and utilitarian .
Hedonic benefits are associated with the sensory and experiential attributes of the product.
Utilitarian benefits of a product are associated with the more instrumental and functional
attributes of the product (Batra and Athola 1990).

37
Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of
the state of satisfaction will vary from person to person and product/service to
product/service. The state of satisfaction depends on a number of both psychological and
physical variables which correlate with satisfaction behaviors such as return and recommend
rate. The level of satisfaction can also vary depending on other options the customer may
have and other products against which the customer can compare the organization's products.

Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988
provides the basis for the measurement of customer satisfaction with a service by using the
gap between the customer's expectation of performance and their perceived experience of
performance. This provides the measurer with a satisfaction "gap" which is objective and
quantitative in nature. Work done by Cronin and Taylor propose the
"confirmation/disconfirmation" theory of combining the "gap" described by Parasuraman,
Zeithaml and Berry as two different measures (perception and expectation of performance)
into a single measurement of performance according to expectation.

The usual measures of customer satisfaction involve a using a Likert scale. The customer is
asked to evaluate each statement in terms of their perceptions and expectations of
performance of the organization being measured.

Good quality measures need to have high satisfaction loadings, good reliability, and low
error variances. In an empirical study comparing commonly used satisfaction measures it was
found that two multi-item semantic differential scales performed best across
both hedonic and utilitarian service consumption contexts. A study by Wirtz & Lee
(2003), found that a six-item 7-point semantic differential scale (for example, Oliver and
Swan 1983), which is a six-item 7-point bipolar scale, consistently performed best across
both hedonic and utilitarian services. It loaded most highly on satisfaction, had the highest
item reliability, and had by far the lowest error variance across both studies. In the study, the
six items asked respondents’ evaluation of their most recent experience with ATM services
and ice cream restaurant, along seven points within these six items: “pleased me to displeased
me”, “contented with to disgusted with”, “very satisfied with to very dissatisfied with”, “did a
good job for me to did a poor job for me”, “wise choice to poor choice” and “happy
with to unhappy with”. A semantic differential (4 items) scale (e.g., Eroglu and Machleit
1990), which is a four-item 7-point bipolar scale, was the second best performing measure,

38
which was again consistent across both contexts. In the study, respondents were asked to
evaluate their experience with both products, along seven points within these four items:
“satisfied to dissatisfied”, “favorable to unfavorable”, “pleasant to unpleasant” and “I like it
very much to I didn’t like it at all”. The third best scale was single-item percentage measure,
a one-item 7-point bipolar scale (e.g., Westbrook 1980). Again, the respondents were asked
to evaluate their experience on both ATM services and ice cream restaurants, along seven
points within “delighted to terrible”.

Finally, all measures captured both affective and cognitive aspects of satisfaction,
independent of their scale anchors. Affective measures capture a consumer’s attitude
(liking/disliking) towards a product, which can result from any product information or
experience. On the other hand, cognitive element is defined as an appraisal or conclusion on
how the product’s performance compared against expectations (or exceeded or fell short of
expectations), was useful (or not useful), fit the situation (or did not fit), exceeded the
requirements of the situation (or did not exceed).

Recent research shows that in most commercial applications, such as firms conducting
customer surveys, a single-item overall satisfaction scale performs just as well as a multi-item
scale. Especially in larger scale studies where a researcher needs to gather data from a large
number of customers, a single-item scale may be preferred because it can reduce total survey
error.

39
DATA ANALYSIS & INTERPRETATION
This page and onwards will contain step by step analysis of different questions…

1. How important is price while buying the product.


A) Extremely important B) Rarely important C) Not at all important

No. of
Serial Number Responses Respondents % Of Responses
1 Extremely important 16 32%
2 Rarely important 31 62%
3 Not at all important 3 6%

IMPORTANCE OF PRICE
Extremely important Rarely important Not at all important

6%

32%

62%

INTERPRETATION
From the above pie chart that 62% of the respondent says that price is rarely important for
them while buying the product and 32% says price is extremely important and only 6% says
price is not at all important for them while buying the product.

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2. Color of product as an important factor for buying of the product.
A) Definitely important B) Not so important C) Sometimes important D) Not sure

No. of
Serial Number Responses Respondents % Of Responses
1 Definitely important 7 14%
2 Not so important 24 48%
3 Sometimes important 9 18%
4 Not sure 10 20%

COLOR OF PRODUCT
Definitelyimportant Not so important Sometimesimportant Not sure

20% 14%

18%
48%

INTERPRETATION
Above interpretation indicates that color of the product is not an important factor. From
survey done on different group of people, it is evident that masons, retail stockiest and
general consumer, all of them do not give too much attention to color of the product.

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3. Attractive packaging is an important factor while buying the product.
A) Very much B) Not so much C) Can’t say
No. of
Serial Number Responses Respondents % Of Responses
1 Very much 9 17%
2 Not so much 29 56%
3 Can’t say 12 27%

ATTRACTIVE PACAKAGING
Very much Not so important Can't say

17%
27%

56%

INTERPRETATION
The response to this question clearly indicates that people do not tend to buy those products
which have good and attractive packaging as after all quality matters.

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4. Retailers of LUMIRISE PVT LTD find in your city.
A) 1-5 B) 5-7 C) 7-10 D) More than Ten
No. of
Serial Number Responses Respondents % Of Responses
1 1-5 3 6%
2 5-7 7 14%
3 7-10 25 50%
4 More than Ten 15 30%

NO. OF RETAILERS
1 TO 5 5 TO 7 7 TO 10 More than Ten

6%
14%
30%

50%

INTERPRETATION
The response received from the customers indicates that there are enough retailers in their
city.

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5. Medium of information made aware about LUMIRISE PVT LTD.
A) News Papers B) Hoardings C) TV ads D) Meeting with dealers
No. of
Serial Number Responses Respondents % Of Responses
1 News papers 10 20%
2 Hoardings 10 20%
3 TV ads 25 50%
4 Meeting with dealers 5 10%

AWARENESS
News papers Hoardings TV ads Meeting with dealers

10%
20%

20%
50%

INTERPRETATION
From the above pie chart most of the customers knew LUMIRISE PVT LTD through TV ads.

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6. Response time of the company to the complaints satisfactory.
A) Satisfactory B) Good C) Not so good D) Not sure
No. of
Serial Number Responses Respondents % Of Responses
1 Satisfactory 22 44%
2 Good 18 36%
3 Not so good 7 14%
4 Not sure 3 6%

COMPLAINTS SATISFACTORY
Satisfactory Good Not so good Not sure

6%
14%
44%

36%

INTERPRETATION
From the above pie chart the response time of the company to the complaints is satisfactory.

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7. Expecting any additional improvements regarding LUMIRISE PVT
LTD.
A) Quality B) Quantity C) Packing D) others
No. of
Serial Number Responses Respondents % Of Responses
1 Quality 7 14%
2 Quantity 18 36%
3 Packing 22 44%
4 Others 3 6%

ADDITIONAL IMPROVEMENTS
Quality Quantity Packing Others

6%

14%

44%
36%

INTERPRETATION
From the above pie chart it says that customers expecting better packing from the company.

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8. How long the customer of LUMIRISE PVT LTD.
A) 1 year B) 2 years C) 3 years D) >3 years
No. of
Serial Number Responses Respondents % Of Responses
1 1 year 25 50%
2 2 year 15 36%
3 3 year 05 44%
4 >3 year 05 6%

HOW LONG ARE YOU A CUSTOMER


1 year 2 years 3 years >3 years

10%
10%
50%
30%

INTERPRETATION
From the above information it says that most of the customers knew LUMIRISE PVT LTD
from the past 1 Year.

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9. Price fixed by the company as per the quality is worth or not.
A) Yes B) No
No. of
Serial Number Responses Respondents % Of Responses
1 Yes 40 80%
2 No 10 20%

PRICE FIXED IS WORTH


Yes No

20%

80%

INTERPRETATION
From the above information it says that most of the customers are saying the price fixed is
worth for the quality of the product.

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10. Satisfied customer of LUMIRISE PVT LTD.
A) Yes B) No
No. of
Serial Number Responses Respondents % Of Responses
1 Yes 45 94%
2 No 05 6%

SATISFIED CUSTOMER
Yes No

6%

94%

INTERPRETATION
From the above information it says that most of the customers are satisfied with the
LUMIRISE PVT LTD.

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11. Facing any difficulty in usage of LUMIRISE PVT LTD products.
A) Yes B) No
No. of
Serial Number Responses Respondents % Of Responses
1 Yes 05 10%
2 No 45 90%

HOW LONG ARE YOU A CUSTOMER


Yes No

10%

90%

INTERPRETATION
From the above information it says that customers didn't face difficulties in using LUMIRISE
PVT LTD products.

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12. Buying directly from the factory or through wholesalers?
A) Factory B) Wholesalers
No. of
Serial Number Responses Respondents % Of Responses
1 Factory 48 96%
2 Wholesalers 02 4%

HOW LONG ARE YOU A CUSTOMER


Yes No

4%

96%

INTERPRETATION
From the above information it says that most of the customers are buying products directly
from the factory.

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13. Does the product is meeting the needs.
A) Badly B) Fine C) Well D) Very Well

No. of
Serial Number Responses Respondents % Of Responses
1 Badly 03 06%
2 Fine 10 21%
3 Well 30 60%
4 Very well 07 10%

MEETING NEEDS
Badly Fine Well Very well

10% 6%
21%

60%

INTERPRETATION
From the above information it says that most of the customers feel that the product meets
their needs well.

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14. Customer is able to find the information on Lumirise pvt ltd website.
A) Yes B) No
No. of
Serial Number Responses Respondents % Of Responses
1 Yes 45 90%
2 No 05 10%

INFORMATION IN WEBSITE
Yes No

10%

90%

INTERPRETATION
From the above information it says that most of the customers are able to find the information
they are looking for in the company website.

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15. How likely are you to buy again from us.
A) Not likely at all B) Not likely C) Likely D) Very likely

No. of
Serial Number Responses Respondents % Of Responses
1 Not likely at all 03 06%
2 Not likely 07 14%
3 Likely 30 60%
4 Very likely 10 20%

LIKELY TO BUY AGAIN


Not likely at all Not likely Likely Very likely

6%
20%
14%

60%

INTERPRETATION
From the above information it says that most of the customers are likely to buy the products
from the company again.

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FINDINGS
 The response to this question clearly indicates that people do not tend to buy those
products which have good and attractive packaging as after all quality matters.
 The response received from the customers indicates that there are enough retailers in
their city.
 From the above pie chart most of the customers knew LUMIRISE PVT LTD through
TV ads.
 From the above pie chart the response time of the company to the complaints is
satisfactory.
 From the above pie chart it says that customers expecting better packing from the
company.
 From the above information it says that most of the customers knew LUMIRISE PVT
LTD from the past 1 Year.
 From the above information it says that most of the customers are saying the price
fixed is worth for the quality of the product.
 From the above information it says that most of the customers are satisfied with the
LUMIRISE PVT LTD.
 From the above information it says that customers didn't face difficulties in using
LUMIRISE PVT LTD products.
 From the above information it says that most of the customers are buying products
directly from the factory.
 From the above information it says that most of the customers feel that the product
meets their needs well.
 From the above information it says that most of the customers are able to find the
information they are looking for in the company website.
 From the above information it says that most of the customers are likely to buy the
products from the company again.

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SUGGESTIONS
As per the analysis evaluated by simple random method I can say that the most of the
customers of ‘LUMIRISE PRIVATE LIMITED’ are satisfied with the service provided to
the customers and are utilizing the benefits.

On the whole it may be concluded that the organization is making every effort to extend the
statutory measures to its customers in multinational areas covering the performance related
subjects on one hand and the personal development subjects on other side. However, there are
still certain steps to be taken to make statutory compliance measures more effectively, so that
the present programs which were rated good or average may become excellent programs

 Management must look for other option for distributing of products since the products
that are distributing are not being delivered in in-time.

 Management can add other products to the existing range since many companies are
introducing latest products into the Market.

 Network should be expanded to rural areas also.

 LUMIRISE PVT LTD should give extra discount for bulk orders.

 Customers want more improvement in service.

 LUMIRISE PVT LTD should give more advertisement through Television and should
place more hoarding and billboards.

 Customers have suggested for customized home solutions.

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CONCLUSION
This study was undertaken to examine the Customers’ Satisfaction towards LUMIRISE
PRIVATE LIMITED services and its Marketing Performance based on their perception. It is
concluded from the study that majority of customers are satisfied with the services offered by
LUMIRISE PVT LTD. Customers’ perception is widely varied in accordance with the
Quality of Network, Price, Customer care. Hence, the researcher concluded that the price has
significant and positive impact on customers’ perception choice in selecting LUMIRISE PVT
LTD products and services.

From the analysis, it is found that the product quality from the marketer’s perspective is
associated with Price, Features, Function or Performance of a product. In this age of ever
increasing competition, it is very important for LUMIRISE PVT LTD to keep a constant eye
on preferences and behavior of their customers in order to capture the large untapped market
both in rural and urban areas of India.

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QUESTIONNAIRE
NAME:
OCCUPATION:
AGE:
GENDER:
PHONE NUMBER:

1. How important is price for you while buying the product?


A) Extremely important B) Rarely important C) Not at all important

2. Do you consider color of product as an important factor for buying of the


product?
A) Definitely important B) Not so important C) Sometimes important D) Not sure

3. Do you think attractive packaging is an important factor while buying the


product?
A) Very much B) Not so much C) Can’t say

4. How many retailers of LUMIRISE PVT LTD do you find in your city?
A) 1-5 B) 5-7 C) 7-10 D) More than Ten

5. Which medium of information made you aware about LUMIRISE PVT LTD?
A) News Papers B) Hoardings C) TV ads D) Meeting with dealers

6. Is the response time of the company to the complaints satisfactory?


A) Satisfactory B) Good C) Not so good D) Not sure

7. Do you expect any additional improvements regarding LUMIRISE PVT LTD?


A) Quality B) Quantity C) Packing D) others

8. How long are you a customer of LUMIRISE PVT LTD?


A) 1 year B) 2 years C) 3 years D) >3 years

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9. Do you think that price fixed by the company as per the quality is worth or not?
A) Yes B) No

10. Are you satisfied being a customer of LUMIRISE PVT LTD?


A) Yes B) No

11. Do you face any difficulty in usage of LUMIRISE PVT LTD products?
A) Yes B) No

12. Do you buy directly from the factory or through wholesalers?


A) Factory B) Wholesalers

13. How well does our product meet your needs?


A) Badly B) Fine C) Well D) Very Well

14. Were you able to find the information you were looking for on our website?
A) Yes B) No

15. How likely are you to buy again from us?


A) Not likely at all B) Not likely C) Likely D) Very likely

59
BIBILOGRAPHY

NAME AUTHOR

Marketing Management Philip kotler

Principles of Management Philip kotler and Armstrong

Marketing Management J.C Gandhi

Consumer Behavior Lean G. Schiffman

Website:
www.lumirise.in

www.wikipedia.com

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