REPORT ON WHIRLPOOL

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Whirpool  Report Transcript

INTRODUCTION Whirlpool, the single largest home appliances company in the world, has a unique story. The Whirlpool Corporation celebrates its 90th anniversary this year. Here is a brief sketch of the major forces that have brought about the company’s maturation from a pioneering producer of electric motor driven washing machines in the early 20th century, to its current position of leadership in the major home appliance global industry. The beginning of the 20th Century witnessed what many have characterized as the Second Industrial Revolution. Most notably, Henry Ford introduced mass production for automobile manufacture and George Westinghouse ushered in the age of readily available electricity for illumination and power. This dramatically and forever changed the prevailing ways of business, industry and domestic life.

Against this background the predecessor of the modern day Whirlpool Corporation was formed in 1911 as the Upton Machine Company. Its founders were Chicagoan Lou Upton, owner of a patent for a manually operated clothes washer that had never been produced and his uncle Emory Upton, a machine shop owner in the St. Joseph, Michigan area. The commitment to serve homemakers was in evidence even in those early days as Lou Upton challenged his uncle to power his washer electrically ‘so the women of the country could be assisted in their washing chore’. His uncle rose to the challenge, and thus the new company was established in the St Joseph area where the Company's headquarters remain to this day! The first main customer for the infant company was Federal Electric, but this customer later turned competitor, threatening the very survival of the Upton Machine Company. A replacement customer was not found till 1916, when a valued and strong relationship was forged with Sears Roebuck & Co., which endures to this date. In 1921 the Upton Machine Company had more than outgrown its existing production facilities. With a loan from Sears they constructed a new facility but by 1929 due to the huge popularity of its washers this added capacity too began to feel the strain. Hence in 1929 the Upton Machine consolidated with The Nineteen Hundred Washer Co., a business founded in 1898.The combined entity was named the Nineteen Hundred Corporation. Despite the nation’s economic woes during the Great Depression, Sears and the Nineteen Hundred Corporation continued to prosper. Sears' entry into the international market and its introduction of a unique sales education program designed by Lou Upton, provided added momentum to washer sales during this period. This to date is a tradition at Whirlpool – educating sales channels and service and management people in innovative techniques for improving job performance. By 1941 the Nineteen Hundred Corporation was acknowledged as the No. 1 producer of washers in the US and in the world. Whirlpool continues to hold this position to this day. In 1947, as demand for its products soared, the Nineteen Hundred Corporation’s management became increasingly convinced that a fully-developed dual distribution system would produce economies of scale and other major benefits for both Sears and the Nineteen Hundred Corporation. So planning began for the national distribution of the Company’s own line of laundry products. The brand name would be ‘Whirlpool’, the seemingly appealing brand name for an innovative Agitator washer developed in 1920. The Whirlpool brand of automatic washers was formally launched in August 1949, followed by automatic dryers in the same year. In 1950, due to the tremendous salience gained by the Whirlpool brand, the Company decided to change its name to the Whirlpool Corporation. The Whirlpool brand was aggressively growing and demand outstripped production capacity. By 1954, its growth momentum not withstanding, the company was feeling increasingly pressurized to respond to some growing challenges in its operating environment. The direction was clear – a broader product line was needed, the fastest route to which was either acquisition or merger. In 1955, Whirlpool took over the Seeger Refrigeration Company, thereby acquiring a quality refrigeration line. As part of the merger, it also acquired Seeger's air-conditioning and cooking range businesses.

The Whirlpool brand product offering now encompassed a full line of major appliances. The Whirlpool brand was popular in Canada and Latin America by virtue of licensing agreements. In 1980 a decision was taken to explore opportunities inside and outside the appliance industry worldwide. This resulted in joint ventures and also merger and acquisition throughout Europe, Latin America and Asia. This has led Whirlpool brand, becoming the world’s single largest home appliance brand. India was identified as a growth market in the late ‘80’s. The Whirlpool Corporation entered into a joint venture agreement with the TVS group to produce automatic washers at a plant set up in Pondicherry. A modest beginning was made to establish the Whirlpool brand in India. In 1995 the Whirlpool Corporation acquired Kelvinator of India Limited and entered into the refrigerator market. Later in 1995, majority ownership was gained in the TVS joint venture and the two entities were merged to form Whirlpool of India Limited. Whirlpool was an unknown brand in the minds of the Indian consumers. The task now was to establish it as a well known brand which would enable Whirlpool to claim it rightful position as the market leader in India- a position it enjoys in the U.S, Latin America and Europe. The Whirlpool brand went from having no awareness to claim an awareness of up to 85% and a market share of 25%. Whirlpool has the distinction of being the most preferred brand in the washing machine category with market leadership in the segment it pioneered worldwide – the automatic washing machine. In less than three years, the Whirlpool brand had become a household name and has today emerged as a leader in the domestic home appliances market. Whirlpool India • World's leading manufacturer and marketer of major home appliances. • Manufactures in 13 countries and markets in more than 170 countries. • Market leaders in North and South America. • Specialists in Homemaking -90 years of providing solutions to American homes. • 1996 - Whirlpool Brand enters India. • Now the #1 selling refrigerator brands in India. • 1999 - Over 10 lakh appliances sold - largest Indian appliance Company. • Over 4000 dealers and 500 service centers in India alone. • State-of-the-art, environment friendly technology and processes. • India's first CFC free Refrigerator factory at Ranjangaon, Pune. • First Indian Home Appliance Company to receive ISO 14000 - the international environment friendly certification. Vision & Mission Our all pervasive vision of Every Home... Everywhere, with Pride,

Passion and Performance rests on the pillars of Innovation, Operational Excellence, a customer-centric approach and diversified talent. These are embedded in our business goals and strategy, processes and culture. Be it our products that are the result of innovation and operational excellence to meet every need of our consumers or the people behind these products that come from a wide spectrum of backgrounds thus depicting diversity in talent, everything we do features a distinct Whirlpool way. Core Competencies Innovation Unique and compelling solutions valued by our customers and aligned to our brands Creates competitive advantage and/or is part of a sustainable migration path Creates differentiated shareholder value Operational Excellence (OPEX) An “enabler” or methodology for solving problems & continuous improvement of products & processes through Pursuit, acquisition, and utilization of knowledge using Critical Thought and Planned Experimentation Customer Excellence Know a Customer Know our brands and products Know the drivers of loyalty Know the customer’s data base history Know how to recommend the right product and solve problems Know how the customer views my job Know who our customers are, how to treat them and how we add value Be a Customer Buy and use our products Think deeply about our products and services Share customer knowledge and insights Drive actions based on customer insights Be passionate about our brands and customer loyalty Provide a positive voice for our brands Serve a Customer Recommend our products Show empathy for customers and seek to resolve problems Create consistent customer touch points Provide unique solutions for the customer Take a customer- facing job rotation Build strong relationship with customers to reinforce their decisions Transformation Streams What is it? Whirlpool is transforming into a customer centered company where we consider the customer in everything we do. This focus allows us to build Customer Loyalty to our brand. The transformation is made up of five elements customer Loyalty, Innovation, Leadership, Diversity with Inclusion and Core Competencies and....... there must be heart! Why does it matter to Whirlpool? The elements of the transformation are designed to work together to create unmatched levels of loyalty to our brands, which makes Whirlpool a growing company and increases value for our shareholders. The five elements are the basis for describing our strategy internally and guide the development of our plans and initiatives. The five streams include: Leadership Diversity & Inclusion and the core competencies Customer Excellence Innovation ccOPEX Customer Loyalty Whirlpool has moved from being a World Class Manufacturer to a World Class Marketer using the brand building framework! We are dedicated to creating unique branded solutions that build Customer Loyalty. That's Brand Excellence! RESEARCH METHODOLOGY HISTORY 1911 The Upton Machine Co.

is founded by Louis Upton to produce motor-driven wringer washers. 1916 First order of washers is sold to Sears, Roebuck & Co. 1929 Upton Mach. merges with Nineteen Hundred Washer Co. N.Y. 1948 A 'Whirlpool' brand automatic washer is introduced, with dual distribution. One line through Sears, another for Nineteen Hundred. 1957 Company name is changed to ' The Whirlpool Corporation.' 1958 Whirlpool invests in Brazilian appliance market through purchase of equity in Multibras S.A. 1968 The Elisha Gray II Research & Engineering Center was completed in Benton Harbor. First time revenues cross $ 1 billion. 1978 Annual revenues reach $ 2 billion. 1986 The 'Kitchen Aid' division of Hobart Corp. is purchased. 1987 Whirlpool & Sundaram Clayton Ltd. of India form TVS Whirlpool Ltd. 1989 A joint venture with N.V.Philips of Netherlands called Whirlpool Europe B.V. formed to manufacture and market appliances in Europe. Revenues catapult over $ 6 billion mark. 1990 A joint venture formed with Matsushita Electric Co. Japan to produce vacuum cleaners for the North American market. 1991 The company introduces and commits globally to its Worldwide Excellence System, a TQM program dedicated to exceeding customer expectations. Vision to globalize 'Whirlpool Corp'. 1993 For the first time Whirlpool becomes the No. 1 stand alone brand in UK, Ireland, Netherlands and Belgium. 1995 A majority control is acquired in TVS Whirlpool Ltd. & DC manufacturing facility of Kelvinator of India is acquired. 1996 Kelvinator of India and Whirlpool washing machines Ltd is combined to form Whirlpool of India Ltd. 1998 A new vision is born “Every Home Everywhere with Pride, Passion & Performance." 1999 Whirlpool of India crosses the milestone of 1 million in the sale of appliances. 2002 The ' Whirlpool Strategic Architecture ' is launched as a framework to achieve the vision. Revenues reach $ 10.5 billion. 2001 Whirlpool India registered profit & sold 1.2 million appliances. Achieves no. 1 position in DC & FA. 2002 Successful launch of Aircon range - existed the year with 6% market share 2003 A new mission statement “everybody creating loyal customers for life" is adopted. 1911 ... The Beginning of Whirlpool Corporation Entrepreneurs dream big, but it's unlikely that Louis, Frederick and Emory Upton ever imagined their homegrown washer company would become the world's largest appliance manufacturer. Near the pleasant shores of Lake Michigan in St. Joseph, Michigan, the Upton brothers created the Upton Machine Company in 1911 to produce electric, motor-driven wringer washers. The company's first major order came almost immediately: Federal Electric requested delivery of 100 washing machines. A problem arose when a cast-iron gear in the transmission failed — in every single machine. At his company's own expense, Lou Upton replaced the defective parts with a new cut-steel gear. Impressed with the fledgling company's business ethics, Federal Electric doubled its order to 200 washing machines. A watershed event took place several years later, when retail giant Sears, Roebuck and Co. began marketing two Upton-manufactured washers under the trade name “Allen.” At a board meeting in October 1916, Lou Upton reported that this relationship was going so well,

Sears was actually selling washers faster than the Upton Machine Co. could manufacture them. Today, Whirlpool Corporation is the largest North American supplier of major appliances to Sears under the Kenmore brand. Upton Machine Company treated its workers just as well as its customers. In 1917, the company offered several dozen of its senior employees an unheard-of benefit: paid vacations. A letter from company president Louis Upton encouraged the lucky men to enjoy “fishing trips, picnics and beach parties.” Satisfied workers, he reasoned, make good products. Another sign of things to come was the Uptons' decision to diversify their young product line. In 1915, the company's biggest client, Federal Electric, decided to build its own washers. To survive, the Upton Machine Company traded $20,000 of its new stock to acquire American Tool Works. And so, for the next 10 years, the company cleverly supplemented its growing appliance business by manufacturing and marketing popguns and small metal toys. After surviving a post-war economic downturn, the Upton Machine Company continued to leverage its relationship with Sears to expand its business. By the mid 1920s, the Upton Machine Co. had become the exclusive supplier for Sears electric and gasoline powered washing machines. Louis Upton and General Robert E. Wood, a president and later chairman of the board at Sears, sealed this mutually beneficial agreement with a friendly handshake. The companies' relationship continues to thrive today. Eventually, Sears asked the Upton Machine Co. to expand its business to the east, where most of the nation's people lived and worked. In 1929, Upton Machine merged with the Nineteen Hundred Washer Company of Binghamton, New York. In a decade, the company led the nation in the production of washing machines. By 1936, the Nineteen Hundred Corp. began inching its way into the lucrative global marketplace. “Sears International” and a relationship with the American Steel Export Co. brought the company's washers to Europe and Asia. One washer even traveled over the Khyber Pass on the back of a camel to its final destination at the British consul in India. In 1942, just months after the Japanese attack on Pearl Harbor,

the Nineteen Hundred Corporation joined hundreds of other American companies by converting all of its facilities to wartime production. Innovation and ingenuity were watchwords even then. The company modified a shipboard anti-aircraft gun that was more accurate, while also reducing its cost from hundreds of dollars to $9.60. It manufactured a piece of the P-40 Kittyhawk fighter wing for less than $400, just one-tenth of the government's original cost. The company also produced more than 68,000 airplane propellers, mortars and a specialized tank steering device for the war effort. Ultimately, America's tireless genius for manufacturing would lead the Allies to victory in World War II. Shortly after the war, the company became the world's first to introduce a milestone product that has become a standard today: the top-loading automatic washer. In 1948, another first: the company markets a Whirlpool brand automatic washer, thus establishing dual distribution — one line of products for Sears, another for Nineteen Hundred. Post-war America was flush with pride and prosperity, and the company's business expanded vigorously during the 1950s. Now officially known as the Whirlpool Corporation, the company added automatic dryers, refrigerators, ranges and air conditioners to its product line. Innovation, always a Whirlpool Corporation hallmark, was especially evident in 1956 with the “Whirlpool Miracle Kitchen.” Originally conceived as a test laboratory for new products, the Miracle Kitchen became a hit with 1950s audiences all over the world. An estimated 15 million people saw such space-age, time-saving wonders as a free-standing planning center with audio-visual controls, mobile dishwasher cart, automatic meal maker and a rotating TV screen to monitor activity throughout the house. To keep pace with consumer demand, Whirlpool Corporation expanded its manufacturing locations nationwide. The company acquired a spare parts facility in LaPorte, Indiana, a refrigeration plant in Evansville, Indiana, and a dryer production plant in Marion, Ohio. A merger with the Clyde (Ohio) Porcelain Steel Co. created a washer manufacturing plant — which was to become the world's largest washer factory. The company grew operationally as well. A new 100-acre administrative center (still the corporate headquarters today) opened in 1956 in Benton Harbor, Michigan. In 1951, Whirlpool Corporation established its philanthropic arm, the Whirlpool Foundation. Since its founding, more than $110 million in grants have been awarded to agencies and causes, including the American Heart Association, the Boys and Girls Club, Indiana University and Read for LIFE. In 1957, the company established the Appliance Buyers Credit Corporation (later to be known as Whirlpool Financial Corp.) to extend credit to thousands of families hungry for the latest appliances. In 1958, Whirlpool Corporation quietly began a relationship outside the North American market that would later define its successful global expansion and growth. That year, the company invested in Brasmotor S.A., for an equity stake in the Brazilian appliance market. Whirlpool Corporation met the many challenges of providing nutritious food in a weightless environment, leading to similar contracts in later years for the Apollo and Skylab programs. Whirlpool continued to grow and diversify in the 1960s. In 1962, Whirlpool Corporation won the contract to develop the feeding and waste management systems for NASA's Gemini project. By mid 1960 the Whirlpool brand name was strong and well established in the North America market. Based on its manufacturing and distribution growth, the company was routinely introducting a full line of new appliance products. In 1969 the company was the first to introduce a residential trash compactor, the first new-to-market appliance in 30 years. In the 1970s, the company established Cool Line, the first toll-free consumer service support line, acquired the Ft. Smith, Arkansas, refrigeration plant, as well as the equity interest in Canadian appliance manufacturer Inglis, Ltd. The company's Brazilian interests continued to position Whirlpool for future global expansion. As the 20th Century drew to a close, the appliance market in the U.S. began to mature. Growth at home would be measured in fractions of percentages. Meanwhile, elsewhere in the world, trade barriers fell and new capitalist societies flourished. In this environment, Whirlpool Corporation made a historic decision: To continue to focus on its historical product line of major home appliances, but to expand its business into rapidly growing markets throughout North and South America, Europe — and later, Asia. In 1987,

Whirlpool Corporation and Sundaram-Clayton of India formed TVS Whirlpool Limited to make compact washers for the Indian market (Whirlpool Corporation would acquire majority ownership in 1994). Later, the company built a manufacturing plant in Pondicherry, India. In 1989, Whirlpool Corporation and N.V. Philips of the Netherlands formed a joint venture company, Whirlpool Europe B.V., to manufacture and market appliances in Europe. Whirlpool Corporation became the sole owner of the venture two years later. The company remained active in North America as well, expanding its brand base by purchasing the KitchenAid division of the Hobart Corporation (1986) and acquiring the Roper brand name in 1989. The three-tiered brand structure now gave customers a clear choice of high-end (KitchenAid), popular (Whirlpool) and value-oriented (Roper) home appliances. In 1988, Whirlpool Corporation and Vitro, S.A. form Vitromatic S.A. de C.V., a joint venture to produce and market appliances for the Mexican and export markets. Soon after, Whirlpool Corporation consolidated all its North American operations to form its North American Appliance Group. The global and domestic efforts would bear fruit: Revenues exceeded $6 billion by the end of the decade. Whirlpool Corporation continued its expansion in Latin America and Western Europe, established a presence in Central Europe, and aggressively pursued its Asian strategy. A rising tide of corporate revenues accompanied these decisions through the decade, as Whirlpool Corporation passed the $7 billion and later $8 billion mark for annual sales. In the States, strong sales prompted Whirlpool Corporation to open two new manufacturing sites. The Greenville, Ohio, plant would manufacture small appliances for the KitchenAid brand, and the Tulsa, Oklahoma, plant would manufacture gas and electric ranges. A new Small Appliance Business Unit would manage the products in that segment, including KitchenAid stand and hand mixers, across the globe. In 1993, Whirlpool Corporation won the $30 million Super Efficient Refrigerator Program (SERP) sponsored by 24 U.S. utility companies. The Whirlpool SERP refrigerator would have the best energy efficiency levels of any refrigerator of its kind in the market. Later SERP models would exceed Dept. of Energy standards by 40 percent. In 1998, Whirlpool Corporation unveiled its Resource Saver® Wash System, a high-efficiency, top-loading washing machine with a spray rinse system and water temperature sensor that helped reduce energy consumption and water usage. Throughout Western Europe, Whirlpool Corporation became a stand-alone brand, and the company became the exclusive supplier of major home appliances to IKEA. Whirlpool Corporation was also active in the burgeoning Central and Eastern European market. During the 1990s, the company created two new subsidiaries to sell and service appliances in Hungary (Whirlpool Hungarian Trading Ltd.) and Slovakia (Whirlpool Tatramat). Later, Whirlpool Europe opened sales subsidiaries in Poland, the Czech Republic, Romania, Bulgaria and Russia. Whirlpool Latin America grew as the company broadened its Brazilian market focus to enter a joint venture in Argentina and established the South American Sales Co. to handle regional sales in 35 countries. Whirlpool Asia established a corporate headquarters and product development/technology center in Singapore, and opened regional offices in Hong Kong, New Delhi, Singapore and Tokyo. Later, the company purchased majority interests in five joint ventures across India and China to expand the Asian manufacturing base. By 1996, the company had consolidated its Asian operations, moving headquarters from Singapore to Hong Kong. Whirlpool India began promoting the Whirlpool brand in the 1990s, then an unknown name to Indian consumers. Within five years, Whirlpool brand became a household name and the leading brand in washing machines and refrigerators. Internally, Whirlpool Corporation implemented Operational Excellence, its own custom version of the Six Sigma program to improve quality, while lowering costs and shortening cycle times.

The program helped Whirlpool Corporation leverage its global manufacturing experience to save $175 million in manufacturing costs in its first three years. As the decade, century and millennium drew to a close, Whirlpool brand introduced its Catalyst® cleaning action, a laundry innovation that promised America's cleanest laundry. In a sign of things to come, Whirlpool Corporation won the “Star of Energy Efficiency” Award from the Alliance to Save Energy, was named “Appliance Partner of the Year” by the U.S. Department of Energy, and took home the Climate Protection and Stratospheric Ozone Protection Awards from the Environmental Protection Agency (EPA). Thanks to its energy-efficient SERP refrigerators, Resource Saver® Wash System and numerous internal and external conservation and education efforts, Whirlpool Corporation proved that being green is good for business and good for the world. In addition, Whirlpool Corporation began its association with Habitat for Humanity, living up to company founder Lou Upton's belief that successful businesses can also be good neighbors. Whirlpool Corporation Today ... Whirlpool Corporation arrived in the new century and millennium as the world's leading manufacturer and marketer of major home appliances. Today, Whirlpool's global platform provides our operations with resources and capabilities no other manufacturer can match and with brands that consumers trust. To sustain the productivity savings that are being achieved by our operations, we have embedded our Operational Excellence process – based on Six-Sigma and lean manufacturing skills and capabilities – within each of our worldwide manufacturing facilities. The company's global information technology organization provides Internet tools that cut the complexity and costs of doing business for Whirlpool and its trade partners. Whirlpool's unique global platform allows the company to transfer key innovations and processes across regions and brands. Based on the continuing success of the company's global innovation process,

which began in 1999, Whirlpool has introduced unique product innovations to consumers worldwide. Over the last three years, Whirlpool has built and embedded within its global enterprise the skills and capabilities required to discover, develop and rapidly bring to market true innovation. These innovations are giving the company's global brands a sustainable competitive advantage in the marketplace and creating value for customers, trade partners and shareholders. The innovations are part of Whirlpool's strategy of building customer loyalty by applying a deeper, fundamental understanding of customers' needs, desires and lifestyles. The Whirlpool® Duet® clothes washer and dryer pair (HE3t under Sears, Roebuck and Co.'s Kenmore Elite brand), which was launched nationwide in 2002, is a prime example. The Whirlpool® Duet® washer blends European front-load technology with a striking design that appeals to U.S. consumers interested in large-load wash capacity, excellent energy efficiency and cost savings, and the best overall fabric-care performance. Launched under the Whirlpool and Bauknecht brands as Dreamspace and big, respectively, the European versions of the Duet washer provide the same benefits and high level of performance with designs and features that appeal to European consumers. Cross-regional teams of product development engineers continue to collaborate on innovation initiatives for regional and global distribution. Whirlpool bolstered its global position during the year through the acquisition of two strategic businesses in key markets. In Mexico, the company completed the purchase of Vitromatic S.A. de C.V., which had been a joint venture between Whirlpool and Vitro S.A. since 1987. Vitromatic, now called Whirlpool Mexico, is a leading appliance manufacturer that provides a direct access to the fast-growing Mexican market. The acquisition extends our North American manufacturing base and provides additional export opportunities to countries in the Caribbean, Central America and northern parts of South America, as well as to the United States. In Central Europe, Whirlpool acquired Polar S.A., a leading appliance manufacturer with the No. 1 brand name in Poland. The acquisition of Polar improves Whirlpool's brand presence in Central Europe and provides Whirlpool Europe with a low-cost manufacturing source to serve the entire region. Inspired by our bold innovations and designs, increasing numbers of customers around the globe are trusting Whirlpool to make their lives easier. More than ever before, Whirlpool Corporation employees and brands are connecting with customers in ways that will last a lifetime. ADVERTISING All Whirlpool advertising must be truthful, not deceptive, and comply with the applicable laws, regulations, and Company advertising policies. Any claims about the performance or qualities of our products in advertising, sales-training material and point-of-purchase displays or literature must be substantiated before being made. Whirlpool will hold themselves and their competitors to the same high standard when making comparative claims about competing products. CORPORATE GOVERNANCE Corporate Governance pertains to systems by which companies are directed and controlled keeping in mind long term interest of Stakeholders. Whirlpool will abide and comply with the mandatory requirements of the Code of Corporate Governance introduced by Securities and Exchange Board of India. Whirlpool has created a symbol to capture the spirit of Whirlpool’s High Performance Culture. The symbol depicts three stakeholders: • The employee • The customer • The shareholder. Whirlpool lays great emphasis on doing business with integrity and ethics. Our philosophy is to implement the Corporate Governance Practices for the good of all stakeholders and continuously improve upon the process for effective functioning. BOOKS AND RECORDS/ INTERNAL CONTROLS/ PAYMENT TO GOVERNMENT OFFICIALS/ PREVENTION OF MONEY LAUNDERING. All Company financial, financial, accounting, research, test, sales, manufacturing and expense records or reports, timesheets, and other documents must accurately and clearly represent the facts of the underlying matter. Improper or fraudulent documentation or reporting is contrary to Whirlpool Policy.

Whirlpool has established accounting and other control standards and procedures to ensure that all Company assets are protected and properly used and that financial records are accurate and reliable. Employees share the responsibility for maintaining and complying with required internal controls and ensuring that Company assets are not misused. Employees should not make any payment to any government official for the purpose of obtaining or retaining business or favours. Any other payments made to government officials should be approved in advance and recorded in the Company’s financial records. CONFIDENTIAL INFORMATION/ ELECTRONIC INFORMATION Trade secrets and other proprietary information about Whirlpool, its business activities, or its customers and suppliers should be treated as confidential and may not be used for personal gain. Such information, or confidential employee data, should not be disclosed to people inside or outside the Company who do not have legitimate work-related need to know. This shall also be applicable on termination of Employment with Whirlpool. In addition to the proper use of information, it is important for employees to prevent misuse, disclosure, or destruction (other than in accordance with the appropriate record – retention policy) of the information for which they are responsible. This information may be in printed form, computer based, or stored on microfilm or some other format. In handling the Company’s Information or information owned by a third party and/ or licensed by the Company, employees should comply with copyright laws, computer software licensing agreements, and relevant Company policy. Information Technology representatives can provide advice and assistance in protecting computer-based information in accordance with our policies on information security. Whirlpool believes in giving their employees the best environment and opportunities to work. Hence,

it is important for employees to prevent misuse of the facilities provided for the efficient working. Any facility provided by Whirlpool should only be used for achieving the goals of the Company. Any employee of Whirlpool found misusing the facilities (including improper use of Internet) would be liable to appropriate disciplinary action by the Management. DIVERSITY AND EQUAL OPPORTUNITY Whirlpool’s future depends on its ability to attract and retain the best people at all levels of the Company. To do that, Whirlpool must create a working environment that values diversity and protects the right of each employee to fair and equitable treatment. Our policies and practices assure well-integrated approach to Gender Equality, which means that Gender Equality becomes a natural part of every aspect of work at Whirlpool. Areas that are important are equal employment, equal advancement opportunities for all qualified people, equal pay and protection against sexual harassment. Whirlpool will maintain appropriate standards of conduct in the workplace and always be sensitive to the concerns of our diverse group of employees. Harassment of any employee for any reason is inconsistent with Whirlpool’s code of business and will not be tolerated. Any such incidence should be reported to Employees Grievance Committee. The Committee shall comprise of following permanent members: 1. Vice President - HR 2. Chief Financial Officer 3. Director (Legal) ET member responsible for the particular alleged accused/ harasser will be appointed as Fourth member of the committee (Note: The Committee will co-opt a senior lady member amongst the employees for addressing any complaint of Sexual Harassment.) No employee needs fear that he/she will be victimized for reporting a complaint to Employee Grievance Committee. ENVIORNMENT Whirlpool is dedicated to environmental responsibility and will follow all applicable environmental laws and regulations. Where laws do not exist or are inadequate, Whirlpool will establish and follow their own standards consistent with this commitment to environmental responsibility. Employees have an obligation to promptly alert management to any work-related actions that threaten the environment. GIFTS FROM SUPPLIERS OR CUSTOMERS Employees should deal honestly and fairly with suppliers and customers and should award Whirlpool business based on Quality, delivery, service and competitive pricing. To avoid the appearance of improper influence, no employee, or member of employee’s immediate family, should accept any gift of more than token value of Rs. 1000. Neither is it appropriate to accept loans or unusual hospitality (excesses in meals, refreshment, or entertainment) from suppliers or customers. POLITICAL ACTIVITIES Generally, neither the Company nor its representatives may make political party or candidate contributions on behalf of the Company. Any such contributions with Company funds require prior approval from the Management. Unless authorized, employees who participate in partisan political activities should not suggest or state that they speak or act for Whirlpool. Of course, each employee is individually free to pursue political activities he or she deems appropriate. PRODUCT SAFETY Whirlpool’s objective is to manufacture and market products that are safe for their anticipated use. Employees should immediately report any suspected product-safety problem to their supervisor.

SAFETY AND HEALTH Whirlpool strives to provide safe and healthful work setting for all employees. In turn, each employee should encourage and practice safety while on job and observe appropriate standards of conduct. Employees should immediately notify a supervisor or manager of any work hazards that come to their attention. SECURITY LAWS/ INSIDER TRADING Under Indian securities law and the law of several other countries, if an employee knows important, nonpublic information about Whirlpool or another Company, the employee should not buy or sell any securities (including stock) of Whirlpool or the other company until the information is generally known by public. In addition, that employee should not disclose the nonpublic information to others inside or outside Whirlpool who do not have obligation to maintain confidentiality. Violating this law can lead to significant civil and criminal penalties in India and in other countries where similar laws have been adopted. Employees are encouraged to familiarise themselves with Insider Trading Code of the Company, which can be provided by Company Secretarial Function on request. SOCIAL RESPONSIBILITIES Whirlpool’s ‘Bhagya Chakram’ Bring in prosperity this Onam, with the Whirlpool Wheel of Fortune Kochi, August 11, 2003 - Whirlpool, market leader in home appliances, endeavors to continuously add that special touch of magic to everything that the homemaker does, to add joy to her family and prosperity in their lives. This Onam, as true partners to the homemakers, Whirlpool rewards the homemaker with the ‘Bhagya Chakram’ or the wheel of fortune that ushers in prosperity with exciting gifts. When the homemaker buys a Whirlpool appliance, she gets the opportunity to Spin the Bhagya Chakram, select a card and scratch it to reveal an exciting gift from Whirlpool. The gifts range from an ‘appam chatti’, a Whirlpool Microwave Oven, gold jewellery from Tanishq, etc. Three lucky homemakers will take home the mega gift hamper of Whirlpool Appliances worth Rs. 50,000 each!! ‘With the purchase of the Whirlpool Appliance our homemaker not only buys into the promise of Whirlpool but also ushers in prosperity by spinning the Bhagya Chakram which opens the door to a storehouse of gifts’ said Arvind Mediratta, V.P. Marketing, Whirlpool of India. Whirlpool has also ensured that this Onam Homemakers will also have the opportunity of availing 0% consumer finance for the purchase of a Whirlpool Appliance through the tie up with The Kerala State Financial Enterprise (KSFE) and other financial institutions. Whirlpool Corporation is the world’s leading manufacturer and marketer of major home appliances with annual sales of over US$12 billion. The company has nearly 50 manufacturing and technology centres around the globe and markets Whirlpool, KitchenAid, Brastemp, Bauknecht, Consul and other major brand names to consumers in more than 170 countries. Whirlpool Extends Helping Hand to CRY New Delhi, 7 March 2004 - WHIRLPOOL has joined hands with Child Relief and You (CRY) to set up a Whirlpool Homemaker of Tomorrow Fund. The company has contributed Rs 5 lakh to Swati, a CRY project, for the fund. The fund will ensure equal opportunities for children in slums around Delhi, for their education and care. The company believes it is the girl child who will grow up to be the woman of tomorrow, the mother of the next generation and the future homemaker. The company also acknowledges the significant contributions that women make towards furthering the economic developments and safeguarding the cultural unity of our country. Two types of data have been taken for the completion of this project. • Primary data • Secondary data Primary data We got primary data from vis-à-vis interaction with showroom managers, dealers, marketing personnel of the show rooms of consumer durable products. Tools used: i. Questionnaire ii. Personnel interview iii.

Telephonic interview Secondary data i. Internet ii. Library iii. News paper articles Based on the information obtained from the above sources concepts were developed on which analysis was made. INFORMATION FROM DEALERS CONTACTED MOST of the dealers of consumer durables of north Delhi to know the following: • To know the sales of CTV, Washing machine, and refrigerator in northern market of Delhi. • To know the sales of videocon in front of its competitors • To know the problem of various dealers • To know the recommendations of the dealers for promoting sales of videocon product in northern region of Delhi. RESULT • Most of the sales of videocon are in the region of colour television only. • Videocon has a strong hold in rural market of north Delhi. • Supply is not proper in some parts of north Delhi • After sales service of videocon is not satisfactory • Videocon provides good margin to dealers. • Videocon has an affordable price tag. PROBLEMS • Proper advertisement of videocon products is not there. • After sales service is not satisfactory. • Supplies of products are not regular. RECCOMMENDATION • Proper advertisement should be there for all videocon Products. • Supply should be in time. • After sales service should be provided in time. • The quality of A.C’s should be improved. CONSUMER DURABLE INDUSTRY IN INDIA The consumer durables industry has seen a decent 48.23 per cent increase in sales volumes in the April-June quarter but the value realization has dipped by 6.4 per cent to Rs 2,948.77 crore (Rs 29.487 billion) from Rs 3,150.31 crore (Rs 31.503 billion), recorded in the same period in the previous year. It is due to a slowdown in refrigerator and colour television sales -- the two cash cows. The increase in sales volumes to 106,610 units from 71,923 units in the same period last year was triggered by sales microwave ovens (91 per cent growth) and washing machines (8.9 per cent growth). "It is a transition phase. While urban consumers are still waiting to shift from an ordinary TV set to a plasma TV, people in rural India are deliberating on whether to shift from direct-cool to frost-free refrigerators. It will take a while before the consumer durables market takes off. MISSION AND VISION MISSION TO KEEP EXCELLENCE IN RESPECTIVE BUSINESS FIELDS & ACHIEVE TOP POSITION GLOBALLY OFFERING QUALITY PRODUCTS THROUGH INNOVATION, TECHNOLOGY AT AFFORDABLE PRICE. VISION VIDEOCON GROUP IS COMMITTED TO BRING HAPPINESS IN EVERY HOME WITH GLOBAL PRESENCE OFFERING HIGH QUALITY "e" PRODUCTS TO EASE HUMAN LIFE. PHILOSOPHY • To compete in Indian and international market with global mindset. • Maximize value for costumers, employees and share holders. • Pursue the best in the class through management by principle. • Contribute to society through good corporate citizenship. INTIATIVES • Redesign business portfolio • Develop new strategic business • Globalization • Acquire promising differentiated technology • Cultivate high performing leadership THE OBJECTIVES & ITS RELEVANCE OBJECTIVES • LEADERSHIP THROUGH INNOVATION • LEADERSHIP THROUGH TECHNOLOGY • LEADERSHIP THROUGH QUALITY • LEADERSHIP THOUGH PERFORMANCE RELEVANCE Today’s complex business environment and hence competion makes it mandatory for a company to manage with information. The modern age will go down in the books of history as the age of information revolution.

Each and every department, may it be finance, production or human resource needs inputs from the marketing and sales department.gone are the days of the shooting in the dark. Now the compant must be sure what it is forgetting and should have a fair knowledge of its market & aids trends. Today’s market is customers driven and not product driven, so the companies have to come out of its products to fit in the requirements of the customers. HOW VIDEOCON GREW? In 1985, through a technical tie-up with Toshiba Corporation of Japan, Videocon International Limited launched India's first world class Color Television. Today, Videocon International Ltd., the flagship company of the Videocon Group, is India's leading manufacturer of Consumer Electronic products. Fired by a passion for innovation, Videocon has kept pace with the changing face of technology, constantly upgrading its manufacturing facilities to incorporate advanced technology and high standards of quality into its product range, right across the spectrum. Committed to giving the consumer the best the world has to offer, Videocon has developed near zero wastage technology which helps reduce manufacturing costs by optimizing material inputs. Coupled with quality-consciousness at every stage, the consumer benefits enormously by getting premium products at affordable prices. The company currently manufactures Color TVs, Black & White TVs and Audio products. At its modern plant at Chitegaon and Aurangabad, the Company has also undertaken complete backward integration to manufacture all critical and important components of its products, such as Electronic Tuners, FBTs, ATDMs and Deflection Yokes, thereby reducing costs, ensuring quality control and becoming vertically integrated. It has set up a unit at Gandhinagar in Gujarat for manufacturing Black & White TV picture Tubes. FIRST WITH THE BEST Continuous up gradation and indigenous manufacture has been and continues to be an integral part of the company’s philosophy. Perceived as an integral part of the company’s philosophy. Perceived as an innovator in its field Videocon has notched up many exciting first by exploring the world’s most advanced technologies. In colors TVs Videocon was the first Indian company to introduce picture in-picture turbo sound, surround sound, large screen sizes, the full flat square tube the mighty bazooka woofer and the budget line collection of an affordable yet high quality range of colour TVs for the price conscious consumer.

The latest XLENT series of products from the videocon family has got the best looks in its category. RECENT ACQUISITIONS OF VIDEOCON The large acquisitions of units of two large multinationals in a matter of two weeks. A move that saw group’s total revenue nearly triple to Rs 17,000 crore from Rs 6,000 crore earlier from its four listed companies. And these acquisitions did not come on a platter. For, there was intense competition and some of the internationally big players were also in the race. Besides India, Videocon group now boasts of manufacturing operations in countries like Italy, China, Poland and Mexico. In the last week of June, the group announced acquisition of picture tube manufacturing plants of Thomson SA, a French multimedia and entertainment conglomerate, located in three countries (China, Poland and Mexico) for about Rs operations of Electrolux AB, the Swedish major, which involved taking over the three manufacturing facilities in different parts of the country making washing machines and refrigerators. The going was good for Videocon when the battle was only with domestic players. However, the entry of Korean giants like LG and Samsung in the Indian market has changed the equations. Now, the consumer electronics business has become commoditized and there is more importance to volumes. Only those who produce very large volumes can make profit. Finding it difficult to increase volumes, the company decided on a multi-brand strategy where the company managed to be associated with well known brands like Akai, Sansui, Toshiba, Kenstar, York etc and started producing marketing their products. To acquire Thomson’s manufacturing facilities in China, Poland and Mexico, Videocon has formed a 100 per cent-owned foreign holding company named Eagle Corporation which paid Euro 240 million (Rs 1,200 crore) to Thomson. Thomson in turn has invested Rs 1,200 crore in the equity shares of Videocon Industries and Videocon International. Now that Videocon International is scheduled to be merged into Videocon Industries, Thomson will have a 14 per cent stake in the merged entity. Videocon group signed an agreement with AB Electrolux to acquire the Swedish company's entire 91.85 per cent stake in Electrolux Kelvinator Ltd for Rs 500 crore Videocon will now take over the three manufacturing facilities of Electrolux Kelvinator in India at Shahjanpur (Rajasthan), Warora (Maharashtra) and Butibori (Maharashtra). Under a separate licensing agreement with AB Electrolux, the Videocon Group will distribute products under 'Electrolux' and the 'Kelvinator' brands in India. This makes Videocon India's No.1 Home Appliances Company. COLOUR TELEVISION India has a huge middle class population with rising income levels and growing aspirations. This, along with easy availability of consumer finance, will drive the demand for colour televisions. CTV demand surged by 24 per cent Y-o-Y during JAN-MAY 2005 to cross 6 million units, and is expected to grow by 10-15 per cent in the medium term. Growth will be substantial in the flat CTV segment, which is expected to account for 35-40 per cent of CTV sales in 2005-06 (up from about 25 per cent in 2004-05). Videocon in north Delhi’s rural market has a good market share.

The company’s 14” television has good sales in April –may season. The new Xlent model that has been launched is welcomed firmly by the north Delhi urban coustomers.As the market of north Delhi is more price oriented and the major population is addicted by the advertisement which is poured in all type of media, LG and Samsung has the major market share. SHARE OF VARIOUS COMPANY IN NORTH DELHI MARKET. COMPRASION OF AVG SALES IN 14’’ SEGMENT COMPARISION OF AVG SALES IN 20” SEGMENT COMPARISION OF AVG SALES IN 21” SEGMENT Findings, Analysis and Recommendations for CTV segment Findings • Most of the sales are coming from 21” flat segment and they are contributing 45% of the total sales. • LG is the leader in ctv market. • Videocon has its major sales in rural areas like bavana,kirari and narela etc • Among the major brands videocon has the lowest price. • Over all LG is contributing 35% in total sales and videocon is contributing 21% of total sales. Analysis • Most of the sales are from 21”flat segment because there is no much price difference between 20’conventional and 21’flat models and flat ctvs are the latest trend among the customers • LG is selling maximum because of there better brand promotion strategies and aggressive advertising. • Videocon has its major sales in rural areas because of its lower price and good dealer margin as mostly the rural market are dealer oriented. Recommendation • To boost the sales of videocon, the company should give more importance to after sales service as the company lacks it. • Company should concentrate on the looks and the quality of its lower models. • A scheme should be float especially for 21” models to increase the sales. INTRODUCTION TO REFRIGERATORS • Conventional refrigerators Direct Cool refrigerators cool through the direct contact of air with the cooling coils bound around the freezer. The Direct Cooling system has several drawbacks: Ice forms frequently around the cooling coil - reducing cooling efficiency and creating the need for manual defrosting additionally, also the temperature distribution is uneven within the various compartments. • Frost-Free Refrigerator The Frost-Free System is designed to overcome the drawback of conventional refrigerators. In a frost-fee refrigerator, the cooling coils are located outside the stroke area. A special cooling fan flows cold air from over the coils and into the refrigerator and freezer sections. No frost ever forms inside Frost-Free refrigerators - giving you high cooling efficiency and maximum storage space at all time. Refrigerator is now the harbinger of economic development, prosperity, affluence and a new lifestyle. Changes in refrigerator technology in response to consumer and industry needs over the years have led to product up-gradation which has resulted in several benefits to the consumer. Compressor has been upgraded over time to become more energy efficient and provide greater cooling.

Plastic lining is used inside the fridge and Polyurethane foam (PUF) is being used as an insulator. Plastic components and wire shelves are used in the interiors. They are stronger, durable and easier to clean and handle. Direct Contact Roll Bound evaporators are used which cool much faster and are much efficient. To adhere to the changing consumer needs, larger capacity, multi-door features and flexible interiors are provided in the refrigerator. Refrigerators are designed from direct cool single doors to double doors so that cold air inside the freezer is less exposed to the outside temperature. Frost Free technology is gaining popularity to solve the problem of frequently defrosting the refrigerator as well as ensuring uniform cooling around the entire refrigerator and control the air flow in the ducts. Wide range of refrigerators in size, color and design are there in the market.Clean back refrigerators are in which give a soft look.Painting process has shifted to pre coated panels that are glossy, scratch resistant and aesthetically more appealing. Non CFC refrigerators are being developed due to increasing awareness of dangers to the ozone layer. The refrigerator will be known as the Ecofrig. For the effective implementation of this technology, India became party to Montreal Protocol on Sept. 17, 1992.There is proliferation of models in the range of 200-300lt.capacity since a single bigger compressor can serve these refrigerators pretty effectively. Baby refrigerators are being introduced in the size of 100lts. and below. There is a sea change in the demand of refrigerators- from a few thousands in the fifties to 1,240,000 in early nineties to 1,890,000 in 1995 and an expected 5,800,000 by the turn of the century. This is due to the affluent culture prevailing in the urban and rural areas and a change in the consumer behavior and perception INTRODUCTION TO WASHING MACHINES There are 3 types of washing machines: • Automatic : Washing and drying is done automatically in the same unit. • Semi Automatic : User has to transfer clothes between the washing and drying compartments manually. • Washers: Low on features (no drying facility etc.). Lower ends of the market with the players essentially being in the unorganized sector. The basic difference between machine available today is whether they are top or front loading. We look at the differences There are 3 types of wash technology: Pulsator Agitator Tumble wash Down Popular in Japan Popular in USA Popular in Europe Washes by rotating a disc every 10-15 seconds. Washes by rotating a cylindrical rod every 2-3 seconds. Provides a gentler wash and uses hot water to clean. Gives a satisfactory wash. Gives powerful wash and is suited for heavier and dirtier clothes. Closest replication of manual washing. Tech. Used by Videocon, BPL, Onida, LG etc. Technology used by Whirlpool and Hoover. Technology used by IFB and Electrolux. ? Percentage of sale of frost free refrigerator a) Summers= 80% of dealers say that the sale is more in summer. b) Festival seasons =14% of the dealers say the sale is more in festival season. c) Customers main preference while buying refrigerators d) Brand = 64% say that the customers prefer brand name e) Price = 84% of the customers look for price f) Feature = 90% see the features while buying. g) Service= 20 % see for services Promotion schemes= 12% see the promotional scheme. Word of mouth = 18 % go for word of mouth.Dealers advise= 32% go for the dealers advise.

PRIMARY DATA COLLECTION AND ANALYSIS ? Percentage of Dealers keeping these brands a) LG = 80% dealer d) Videocon =24%dealers b) Samsung =80%dealers e) Kelvinator =65%dealers c) Whirlpool =84% dealers f) Godrej =30% dealers ? Rank of the brands according to the sale a) LG =2nd rank d) Videocon =6th rank b) Samsung =5th rank e) Kelvinator =4th rank c) Whirlpool =1st rank f) Godrej =3rd rank ? What percentage of customer pay by cash or cr. a) Cash =1315/25=52.6% pay by cash according to the dealers. b) Credit =1185/25=47.4% take on credit according to dealers. ? Different – different type of sale promotion by the company. a. LG=8 dealers say LG provides sales promotion to them. b. Videocon=6 dealers say Videocon provides sales promotion to them. c. Samsung= 5 dealers say Samsung provides sales promotion to them. d. Kelvinator= 2 dealers say Kelvinator provides sales promotion to them. e. Whirlpool =9 dealers say Whirlpool provides sales promotion to them. f. Godrej=4 dealers say Godrej provides sales promotion to them. ? Promotions done by the company 1. BPL and Samsung gives displays 2. Promotional schemes are taken out in festivals 3. Bio fresh LG 4. 0% finance by LG 5. Exchange offer by LG 6. Kismet offer by Samsung 7. High incentives by Samsung 8. 0% interest by Whirlpool and finance facility by Whirlpool 9. Carry back scheme whirlpool 10. Exchange offer by Whirlpool 11. Exchange offer by kelvinator 12. Pentacool new advertisement by goodrej ? Ranking of the company according to the profitability. (a) LG =1 d) Videocon=3 (b) Samsung=5 e) Kelvinator=4 (c) Whirlpool=2 f) Godrej=6 ? Percentage of customers going for the frost free refrigerators 1315/24= 54.80% ? Impact of advertisement on sale 1005/22 =45.69% ? Out of 10 the number of pre-determined buyers. 114/24= 5 buyers ? Percentage of selling a) Frost free refrigerator =1125/25 =45% b) Normal refrigerator =1375/25=55% ? Percentage of customer impressed or purchase the product due to the unique feature. a) Yes =71% b) No=25% c) No response= 4% ? The customers buy the product normally in two visits 50/24= 2 visits ? Customer of which brand have more loyalty Samsung=4th highest loyalty Lg=highest loyalty Whirlpool=2nd highest loyalty Videocon 3rd highest loyalty SALES OF VIDEOCON A.C ‘S IN NORTH DELHI A.C’S are more sold at summer’s season. The story is not that different in north Delhi also. We as a sales team of videocon had a chance to meet customers directly. Yugal electronics in rohini ran a A.C mela at the start of the month of June. All the big companies in AC section like Blue star, Carrier, General, Samsung, L.G, Voltas and Videocon participated in the mela.The dealer was direct dealer videocon,Blue star, and Voltas.All the companies had their canopies where the new model of A.C’s was displayed.

The dealers has given a full page advertisement on the news paper,because of that plenty of people came to check the new model at A.C’s. All the companies has their own special feature as the videocon has blue fines with ionizer and free gifts with each purchase. Blue star had free installing.etc.as A.C has become a necessity for a family of the increasing temperature all the companies tried to exploit the situation.all companies had their price discounted. A.C’s are purchased by a customer according to his size of the room it comes in various size and shapes, they are in .8ton,1tonand 1.5 ton split A.C,windowA.C and cassette A.C etc. FINDINGS ANALYSIS AND RECCCOMENDATION FINDINGS 1.

CUSTOMERS OF NORTH DELHI ARE VERY MUCH PRICE ORIENTED. 2. THE MARKET IS TOTALLY DEALER DRIVEN 3. MOST OF THE SALE IS COMING FROM 1.5 TON A/C 4. AS VIDEOCON PROVIDE MAXIMUM MARGIN MOST OF THE SALE IS OF VIDEOCON ONLY. ANALYSIS 1. VIDEOCON LACKS IN ITS QUALITY. 2. VIDEOCON LACKS IN AFTER SALE SERVICES. 3. BLUE STAR HAS VERY GOOD SALE SERVICE 4. THERE ARE PLENTY OF CUSTOMER WHO GOES FOR GENERAL AND HITACHI ONLY. RECCOMENDATION 1. SUPPLY SHOULD BE GIVEN PRIORITY AND SHULD BE REGULAR 2. AFTER SALE SERVICE SHOULD BE PROVIDED REGULARIT BECAUSE IT HELP IN MAKING GOOD IMPRESSION OF THE COMPANY 3 ADVERTISEMENT AND CAMPANING OF VIDEOCON A.C SHOULD BE IMPROVE IN NORTH DELHI REGION 4 MAKE CONSTANT VISIT TO VARIOUS AREAS DEPOTS AND THE PERSON SHOULD BE ONE FROM THE SENIOR LEVEL BECAUSE IT WILL GIVE THE ASSENSE OF BELONGIGNESS WHICH WILL IN RESULT HELP IN IMPROVING BRAND IMAGE.