A Project Report on A Study on CONSUMER BUYING BEHAVIOUR at HYDERABAD
A Project Report submitted to JNTUH in partial fulfillment of the requirement for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION By VIKRANT REGD.No.10311E0004
Under the guidance of
Mr.
DEPARTMENT OF MANAGEMENT STUDIES Sreenidhi Institute of Science & Technology Approved by A.I.C.T.E, New Delhi, Accredited by NBA, Affiliated to JNT University, Hyderabad Hyderabad – 500082.
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CERTIFICATE This is to certify that the project report titled “A Study on Performance appraisal system” carried out in IVRCL Limited, Hyderabad is being submitted by K.Srujana (10311E0038), in partial fulfillment for the award of Master of Business Administration
to
the
Jawaharlal
Nehru
Technological
University, is a record of confide work carried out by her under my guidance and supervision. The results embodied in this thesis have not been submitted to any other University or Institute for the award of any Degree or Diploma.
Project guide:
Head of the Department/Director
Mr.
Dr.Y.SATHYANARAYANA
Asst.Professor
SMS,SNIST
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DECLARATION I hereby declare that this Project Report entitled “A Study on Consumer buying behaviour” at infrastructures and projects limited; HYDERABAD is a bonafied work done by me for the award of degree of Master of Business Administration submitted to JNT University, Hyderabad. The results embodied in this thesis have not been submitted to any other University or Institution for the award of any Degree/Diploma Certificate or Published any time before.
Place: Date (vikrant)
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ACKNOWLEDGEMENT I am thankful to Mr. M.Lenin Babu M.B.A, Asst.Professor for being my project guide..
My profound thanks to Dr.Y.Satyanarayana, , Director, SMS , Sreenidhi Institute of Science & Technology, who was patient in giving direction to my project in his capacity.
I would like to thank
IVRCL, HYDERABAD for giving me an
opportunity to undergo an project in their esteemed organization. I express my sincere gratitude to Mr.P.RAMESH (Manager – HR & Admn) and other personnel staff for guiding and encouraging me to the completion of project on time.
I am thankful Dr.V.Vasudeva Rao, Principal and Dr.P.Narasimha Reddy, Director of Sreenidhi Institute of Science & Technology, for making it convenient to under take a project work.
(VIKRANT)
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INDEX
TOPIC
PAGE NO
CHAPTER 1 INDUSTRY PROFILE COMPANY PROFILE INTRODUCTION TO CONSUMER BEHAVIOUR
CHAPTER 2 OBJECTIVES OF THE STUDY NEED & SCOPE OF THE STUDY RESEARCH METHODOLOGY DATA ANALYSIS DATA SOURCE
CHAPTER 3 DATA ANALYSIS & INTERPRETATION
CHAPTER 4 FINDINGS SUGGESTIONS
ANNEXURE BIBLIOGRAPHY
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Chapter-1
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INDUSTRY PROFILE
Automobile industry in India The automobile industry in India is the ninth largest in the world with an annual production of over 2.3 million units in 2008 In 2009, India emerged as Asia's fourth largest exporter of automobiles, behind Japan, South Korea and Thailand. Following economic liberalization in India in 1991, the Indian automotive industry has demonstrated sustained growth as a result of increased competitiveness and relaxed restrictions. Several Indian automobile manufacturers such as Tata Motors, Maruti Suzuki and Mahindra and Mahindra, expanded their domestic and international operations. India's robust economic growth led to the further expansion of its domestic automobile market which attracted significant India-specific investment by multinational automobile manufacturers. In February 2009, monthly sales of passenger cars in India exceeded 100,000 units. bryonic automotive industry emerged in India in the 1940s. Following the independence, in 1947, the Government of India and the private sector launched efforts to create an automotive component manufacturing industry to supply to the automobile industry. However, the growth was relatively slow in the 1950s and 1960s due to nationalization and the license raj which hampered the Indian private sector. After 1970, the automotive industry started to grow, but the growth was mainly driven by tractors, commercial vehicles and scooters. Cars were still a major luxury. Japanese manufacturers entered the Indian market ultimately leading to the establishment of Maruti Udyog. A number of foreign firms initiated joint ventures with Indian companies.
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In the 1980s, a number of Japanese manufacturers launched joint-ventures for building motorcycles and light commercial-vehicles. It was at this time that the Indian government chose Suzuki for its joint-venture to manufacture small cars. Following the economic liberalization in 1991 and the gradual weakening of the license raj, a number of Indian and multi-national car companies launched operations. Since then, automotive component and automobile manufacturing growth has accelerated to meet domestic and export demands. HISTORY OF THE TWO WHEELERS: The Britannica Encyclopedia a motorcycle as a bike or tricycle propelled by an internal –combustion engine (or, less often by an electric engine). The automobile was the reply to the 19th –century reams of self-propelling the horse-drawn bikeriage. Similarly, the invention of the motorcycle created the self –propelling bicycle. The first commercial design was three-wheeler built by Edward Butler in Great Britain in 1884. This employed a horizontal single-cylinder gasoline engine mounted between two steer able front wheels and connected by a drive chain to the rear wheel. The 1900s saw the conversion of many bicycles or pedal cycles by adding small, centrally mounted spark ignition engine engines. There was then felt the need for reliable constructions. This led to road trial tests and competition between manufacturers. Tourist Trophy (TT) races were held on the Isle of main in 1907 as reliability or endurance races. Such were the proving ground for many new ideas from early two-stroke-cycle designs to supercharged multivalent engines mounted on aerodynamic, bikebon fiber reinforced bodywork. INVENTION OF TWO WHEELERS: The invention of two wheelers is a much-debated issue. “Who invented the first motorcycle?” May seem like a simple question, “safety”, bicycle, i.e., bicycle with front and rear wheels of the same size, with a pedal crank mechanism to drive the rear wheel. Those bicycles in turn described from high-wheel bicycles.
The high –wheelers
descended from an early type of pushbike, without pedals, propelled by the rider‟s feet pushing against the ground. These appeared around 1800, used iron banded wagon wheels, and were called “bone-crushers”, both for their jarring ride, and their tendency to toss their riders. Gottiieb Daimler (who credited with the building the first motorcycle in 1885, one wheel in the front and one in the back, although it had a smaller spring-loaded 8
outrigger wheel on each side. It was constructed mostly of wood, the wheels were of the iron-banded wooden-spooked wagon-type and it definitely had a “bone-crusher” chassis!
FURTHER DEVELOPMENTS: Most of the developments during the early phase concentrated on three and fourwheeled design since it was complex enough to get the machines running with out having to worry about them falling over.
The next notable two-wheeler though was the
Hildebrand & Wolf Mueller, patented in Munich in 1894. In 1895, the French firm of DeDion-button built and engine that was to make the mass production and common use of motorcycle possible. The first motorcycle with electric start and a fully modem electrical system; the Hence special from the Indian Motorcycle Company astounded the industry in 1931. Before World War 1, IMC was the largest motorcycle manufacturer in the world producing over 20000 bikes per year. INCREASING POPULARITY: The popularity of the vehicle grew especially after 1910, in 1916; the Indian motorcycle company introduced the model H racer, and placed it on sale. During World War 1, all branches of the armed forces in Europe used motorcycles principally for dispatching. After the war, it enjoyed a sport vogue until the Great Depression began in motorcycles lasted into the late 20th century; weight the vehicle being used for high-speed touring and sport competitions. The more sophisticated of a 125cc model. Since then, an increasing number of powerful bikes have blazed the roads. HISTORICAL INDUSTRY DEVELOPMENTS: Indian is the second largest manufacturer and producer to two wheelers in the World. It stands next only to Japan and China in terms of the number of V produced and domestic sales respectively. This destination was achieved due to variety of reason like restrictive policy followed by the government of India towards the passenger bike industry, rising demand for personal transport, inefficiency in the public transportation system etc. The Indian two-wheelers industry made a small beginning in the early 50s when Automobile products of India (API) started manufacturing scooters in the country. Until 1958, API and Enfield were the sole producers. 9
The two –wheelers market was opened were opened to foreign competition in the mid-80s. And the then market leaders-Escorts and Enfield – were caught unaware by the onslaught of the 100cc bikes of the four Indo- Japanese joint ventures.
With the
availability of fuel-efficiency low power bikes, demand swelled, resulting in Hero Honda –then the only producer of four stroke bikes (100cc category), gaining a top slot. The first Japanese motorcycles were introduced in the early eighties. TVS Suzuki and Hero Honda brought in the first two-stroke and four-stroke engine motorcycles respectively. These two players initially started with assembly of CKD Kits, and later on progressed to indigenous manufacturing. The industry had a smooth ride in the 50s, 60s and 70s when government prohibited new entries and strictly controlled capacity expansion. The industry saw a sudden growth in the 80s. The industry witnessed a steady of 14% leading to a peak volume of 1.9 mn vehicles in 1990. In 1990 the entire automobile industry saw a drastic fall in demand. This resulted in a decline of 15% in 1991 and 8% in 1992, resulting in a production loss of 0.4mn vehicles. Barring Hero Honda, all the major producers suffered from recession in FY93 and FY94. Hero Honda showed a marginal decline in 1992. The reason for recession in the sector were the incessant rise in fuel prices, high input costs and reduced purchasing power due to significant like increased production in 1992, due to new entrants coupled with recession in the industry resulted in companies either reporting losses or a fall in profits. CONCLUSION: The two-wheelers market has had a perceptible shift from a buyers market to a sellers market with a variety of choice, players will have compete on various fronts viz. pricing, technology product design, productivity after sale service, marketing and distribution. In the short term, market shares of individual manufacturers are going to be sensitive to capacity, product acceptance, pricing and competitive pressures from other manufacturers. 10
As incomes grow and people grow and people feel the need to own a private means of transport, sales of two-wheelers will rise. Penetration is expected to increase to approximately to more than 25% by 2005. The motorcycle segment will continue to lead the demand for two-wheelers in the coming years. Motorcycle sale is expected to increase by 20% yoy as compared to 1% growth in the scooter market and 3% by moped sales respectively for the next two years. The four-stroke scooters will add new dimension to the two-wheeler segment in the coming future. The Asian continent is that largest user of the two-wheelers in the world. This is due to poor road infrastructure and low per capita income, restrictive policy on bike industry. This is due to oligopoly between top five players in the segment, compared to thirsty manufacturers in the bike industry. Hero Honda motors LTd., is one of the leading companies in the two-wheeler industry. At present it is the market leader in the motorcycle segment with around 47% the market share during FY 2000 –01. During the year, company posted a 41.15% yoy rise in turnover to Rs.31, 686.5mn in motorcycles which driven by a 35.17% yoy rise in Motorcycle sales volumes. The company has emerged as one of the most successful players, much ahead of its competitions an account of its superior and reliable product quality complemented with excellent marketing techniques. The company has been consistently addressing the growing demand for motorcycles and has been cumulative customer base of over 4 million customers, which is expected to reach 5min mark with rural and semi-urban segment being the new class of consumers.
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COMPANY PROFILE
Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.) is the world's largest manufacturer of two - wheelers, based in India. In 2001, the company achieved the coveted position of being the largest two-wheeler manufacturing company in India and also, the 'World No.1' two-wheeler company in terms of unit volume sales in a calendar year. Hero MotoCorp Ltd. continues to maintain this position till date. Today, every second motorcycle sold in the country is a Hero Honda bike. Every 30 seconds, someone in India buys Hero Honda's top-selling motorcycle – Splendor.
Vision The Hero Honda story began with a simple vision – the vision of a mobile and an empowered India, powered by Hero Honda. This vision was driven by Hero Honda‟s commitment to customer, quality and excellence, and while doing so, maintaining the highest standards of ethics and societal responsibilities. Hero Honda believes that the fastest way to turn that dream into a reality is by remaining focused on that vision.
Strategy Hero Honda‟s key strategy has been driven by innovation in every sphere of activity – building a robust product portfolio across categories, exploring new markets, aggressively expanding the network and continuing to invest in brand building activities.
Manufacturing Hero Honda bikes are manufactured across three globally benchmarked manufacturing facilities. Two of these are based at Gurgaon and Dharuhera which are located in the state of Haryana in northern India. The third and the latest manufacturing plant is based at 12
Haridwar, in the hill state of Uttrakhand.
Technology In the 1980‟s Hero Honda pioneered the introduction of fuel-efficient, environment friendly four-stroke motorcycles in the country. Today, Hero Honda continues to be technology pioneer. It became the first company to launch the Fuel Injection (FI) technology in Indian motorcycles, with the launch of the Glamour FI in June 2006. Products Hero Honda's product range includes variety of motorcycles that have set the industry standards across all the market segments. The company also started manufacturing scooter in 2006. Hero Honda offers large no. of products and caters to wide variety of requirements across all the segments.
Distribution The company's growth in the two wheeler market in India is the result of an intrinsic ability to increase reach in new geographies and growth markets. Hero Honda's extensive sales and service network now spans close to 4500 customer touch points. These comprise a mix of authorized dealerships, Service & Spare Parts outlets, and dealerappointed outlets across the country.
Brand The company has been continuously investing in brand building utilizing not only the new product launch and new campaign launch opportunities but also through innovative marketing initiatives revolving around cricket, entertainment and ground- level activation.
Hero Honda has been actively promoting various sports such as hockey, cricket and golf. Hero Honda was the title sponsor of the Hero Honda FIH Hockey World Cup that was played in Delhi during Feb-March 2010. Hero Honda also partners the Commonwealth Games Delhi 2010. 2010-11 Performance Total unit sales of 54,02,444 two-wheelers, growth of 17.44 per cent Total net operating income of Rs. 19401.15 Crores, growth of 22.32 per cent 13
Net profit after tax at Rs. 1927.90 Crores Total dividend of 5250% or Rs. 105 per share including Interin Dividend of Rs. 70 per share on face value of each share of Rs. 2 each EBIDTA margin for the year 13.49 per cent EPS of Rs. 96.54 2009-10 Performance Total unit sales of 46,00,130 two-wheelers, growth of 23.6 per cent Total net operating income of Rs. 15860.51 Crores, growth of 28.1 per cent Net profit after tax at Rs. 2231.83 Crores, growth of 74.1 per cent Final dividend of 1500% or Rs. 30 per share on face value of each share of Rs. 2 EBIDTA margin for the year 17.4 per cent EPS of Rs. 111.77, growth of 74.1 per cent HERO HONDA'S MISSION Hero Honda‟s mission is to strive for synergy between technology, systems and human resources, to produce products and services that meet the quality, performance and price aspirations of its customers. At the same time maintain the highest standards of ethics and social responsibilities.
This mission is what drives Hero Honda to new heights in excellence and helps the organization forge a unique and mutually beneficial relationship with all its stake holders. HERO HONDA'S MANDATE Hero Honda is a world leader because of its excellent manpower, proven management, extensive dealer network, efficient supply chain and world-class products with cutting edge technology from Honda Motor Company, Japan. The teamwork and commitment are manifested in the highest level of customer satisfaction, and this goes a long way towards reinforcing its leadership status BOARD OF DIRECTORS No.
Name of the Directors
Designation 14
1
Mr. Brijmohan Lall Munjal
Chairman & Whole-time Director
2
Mr. Pawan Munjal
Managing Director & C.E.O.
3
Mr. Toshiaki Nakagawa
Joint Managing Director
4
Mr. Sumihisa Fukuda
Technical Director
5
Mr. Sunil Kant Munjal
Non-Executive Director
6
Mr. Suman Kant Munjal
Non-Executive Director
7
Mr. Takashi Nagai
Non-Executive Director
8
Mr. Yuji Shiga
Non-Executive Director
9
Mr. Pradeep Dinodia
Non-executive & Independent Director
10
Gen. (Retd.) V. P. Malik
Non-executive & Independent Director
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Mr. Analjit Singh
Non-executive & Independent Director
12
Dr. Pritam Singh
Non-executive & Independent Director
13
Ms. Shobhana Bhartia
Non-executive & Independent Director
14.
Mr. M. Damodaran
Non-executive & Independent Director
15.
Mr. Ravi Nath
Non-executive & Independent Director
16.
Dr. Anand C. Burman
Non-executive & Independent Director
BRIEF PROFILE OF DIRECTORS MR. BRIJMOHAN LALL MUNJAL 15
Mr. Brijmohan Lall Munjal is the founder Director and Chairman of the Company and the $ 3.2 billion Hero Group. He is the Past President of Confederation of Indian Industry (CII), Society of Indian Automobile Manufacturers (SIAM) and was a Member of the Board of the Country's Central Bank (Reserve Bank of India). In recognition of his contribution to industry, Mr. Munjal was conferred the Padma Bhushan Award by the Union Government. Mr. Brijmohan Lall Munjal is currently on the board of the following companies:
No. Name of Company
Nature of Office
1
Hero Honda Motors Limited
Chairman and Whole-time Director
2
Hero Honda Finlease Limited
Chairman and Director
3
Munjal Showa Limited
Chairman and Director
4
Easy Bill Limited
Director
5
Rockman Industries Limited
Director
6
Shivam Autotech Limited
Director
KEY MILESTONES OF HERO HONDA Year
Event
1983 Joint Collaboration Agreement with Honda Motor Co. Ltd. Japan signed Shareholders Agreement signed 1984 Hero Honda Motors Ltd. Incorporated 1985 First motorcycle "CD 100" rolled out 1987 100,000th motorcycle produced 1989 New motorcycle model - "Sleek" introduced 1991 New motorcycle model - "CD 100 SS" introduced 16
500,000th motorcycle produced 1992 Raman Munjal Vidya Mandir inaugurated - A School in the memory of founder Managing Director, Mr. Raman Kant Munjal 1994 New motorcycle model - "Splendor" introduced 1,000,000th motorcycle produced 1997 New motorcycle model - "Street" introduced Hero Honda's 2nd manufacturing plant at Gurgaon inaugurated 1998 2,000,000th motorcycle produced 1999 New motorcycle model - "CBZ" introduced Environment Management System of Dharuhera Plant certified with ISO-14001 by DNV Holland Raman Munjal Memorial Hospital inaugurated - A Hospital in the memory of founder Managing Director, Mr. Raman Kant Munjal 2000 4,000,000th motorcycle produced Environment Management System of Gurgaon Plant certified ISO-14001 by DNV Holland Splendor declared 'World No. 1' - largest selling single two-wheeler model "Hero Honda Passport Programme" - CRM Programme launched 2001 New motorcycle model - "Passion" introduced One million production in one single year New motorcycle model - "Joy" introduced 5,000,000th motorcycle produced 2002 New motorcycle model - "Dawn" introduced New motorcycle model - "Ambition" introduced Appointed Virender Sehwag, Mohammad Kaif, Yuvraj Singh, Harbhajan Singh and Zaheer Khan as Brand Ambassadors 2003 Becomes the first Indian Company to cross the cumulative 7 million sales mark Splendor has emerged as the World's largest selling model for the third calendar year in a row(2000, 2001, 2002) New motorcycle model - "CD Dawn" introduced New motorcycle model - "Splendor +" introduced New motorcycle model - "Passion Plus" introduced 17
New motorcycle model - "Karizma" introduced 2004 New motorcycle model - "Ambition 135" introduced Hero Honda became the World No. 1 Company for the third consecutive year. Crossed sales of over 2 million units in a single year, a global record. Splendor - World's largest selling motorcycle crossed the 5 million mark New motorcycle model - "CBZ*" introduced Joint Technical Agreement renewed Total sales crossed a record of 10 million motorcycles 2005 Hero Honda is the World No. 1 for the 4th year in a row New motorcycle model - "Super Splendor" introduced New motorcycle model - "CD Deluxe" introduced New motorcycle model - "Glamour" introduced New motorcycle model - "Achiever" introduced First Scooter model from Hero Honda - "Pleasure" introduced 2006 Hero Honda is the World No. 1 for the 5th year in a row
15 million production milestone achieved 2007 Hero Honda is the World No. 1 for the 6th year in a row New 'Splendor NXG' launched New 'CD Deluxe' launched New 'Passion Plus' launched New motorcycle model 'Hunk' launched 20 million production milestone achieved 2008 Hero Honda Haridwar Plant inauguration New 'Pleasure' launched Splendor NXG lauched with power start feature New motorcycle model 'Passion Pro' launched New 'CBZ Xtreme' launched 25 million production milestone achieved CD Deluxe lauched with power start feature New 'Glamour' launched 18
2009 Hunk' (Limited Edition) launched Splendor completed 11 million production landmark New motorcycle model 'Karizma - ZMR' launched 2010 Silver jubilee celebrations
2011
New model Splendor Pro launched Launch of new Super Splendor and New Hunk
New licensing arrangement signed between Hero and Honda Launch of new refreshed versions of Glamour, Glamour FI, CBZ Xtreme, Karizma Crosses the landmark figure of 5 million cumulative sales in a single year
PROMINENT AWARDS TO THE COMPANY Year Awards & Recognitions Two-wheeler Manufacturer of the Year award by Bike India magazine. Adjudged the "Bike Manufacturer of the Year" at the Economic Times ZigWheels Car and Bike Awards. - CNBC Awaaz - Storyboard special commendation for "Effective rebranding of a new corporate entity" by CNBC Awaaz Consumer Awards - "Most Recommended Two-Wheeler Brand of the Year" award by CNBC Awaaz Consumer Awards - Colloquy Loyalty Awards "Innovation in Loyalty Marketing International 2011" for Hero GoodLife - "Best Activity Generating Short or Long-Term Brand Loyalty" by the Promotion Marketing Award of Asia Order of Merit for Hero GoodLife 2010 - Ranked No 1 brand in the Auto (Two-Wheelers) category in the Brand Equity "Most Trusted Brand" 2011 survey 2011
Company of the Year awarded by Economic Times Awards for Corporate Excellence 2008-09. CNBC TV18 Overdrive Awards 2010 'Hall of Fame' to Splendor NDTV Profit Car & Bike Awards 2010
Two-wheeler Manufacturer of the Year
CnB Viewers' Choice Two-wheeler of the Year (Karizma ZMR)
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Bike Maker of the Year by ET-ZigWheels Car & Bike of the Year Awards 2009 2009 'Two-wheeler Manufacturer of the Year' by NDTV Profit Car & Bike Awards 2009 and Passion Pro adjudged as CNB Viewers' Choice two-wheeler Top Indian Company under the 'Automobile - Two-wheelers' sector by the Dun & Bradstreet-Rolta Corporate Awards Won Gold in the Reader's Digest Trusted Brand 2009 in the 'Motorcycles' category NDTV Profit Business Leadership Awards 2009 - two-wheeler category 2008 NDTV Profit Business Leadership Award 2008 - Hero Honda Wins the Coveted "NDTV Profit Business Leadership Award 2008" TopGear Design Awards 2008 - Hunk Bike of the Year Award NDTV Profit Car India & Bike India Awards - NDTV “Viewers‟ Choice Award” to Hunk in Bike category IndiaTimes Mindscape and Savile Row ( A Forbes Group Venture ) Loyalty Awards - “Customer and Brand Loyalty Award” in Automobile (two-wheeler) sector Asian Retail Congress Award for Retail Excellence (Strategies and Solutions of business innovation and transformation) - Best Customer Loyalty Program in Automobile category NDTV Profit Car India & Bike India Awards - Bike Manufacturer of the year Overdrive Magazine - Bike Manufacturer of the year TNS Voice of the Customer Awards:
No.1 executive motorcycle Splendor NXG
No.1 standard motorcycle CD Deluxe
No. premium motorcycle CBZ Xtreme
2007 The NDTV Profit Car India & Bike India Awards 2007 in the following category:
Overall "Bike of the Year" - CBZ X-treme
"Bike of the Year" - CBZ X-treme (up to 150 cc category)
"Bike Technology of the Year" - Glamout PGM FI
"Auto Tech of the Year" - Glamout PGM FI by Overdrive Magazine.
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"Bike of the Year" - CBZ X-treme by Overdrive Magazine.
Ranked CBZ X-treme "Bike of the Year" - by B S Motoring Magazine “Most Trusted Company” , by TNS Voice of the Customer Awards 2006.
CD Deluxe rated as "No 1 standard motorcycle" by TNS Voice of the Customer Awards 2006. 2006 Adjudged 7th Top Indian Company by Wallstreet Journal Asia (Top Indian Two Wheeler Company). One of the 8 Indian companies to enter the Forbes top 200 list of world‟s most reputed companies.
No. 1 in automobile industry by TNS Corporate Social Responsibility Award. Best in its class awards for each category by TNS Total Customer Satisfaction Awards 2006:
Splendor Plus (Executive)
CD Deluxe (Entry)
Pleasure (Gearless Scooters)
Splendor & Passion - Top two models in two wheeler category by ET Brand Equity Survey 2006.
Adjudged 7th Top Indian Company by Wallstreet Journal Asia (Top Indian Two Wheeler Company).
Top Indian company in the Automobile - Two Wheeler sector by Dun & Bradstreet American Express Corporate Awards 2006.
Hero Honda Splendor rated as India's most preferred two-wheeler brand at the Awaaz Consumer Awards 2006. 21
Certificate of Export Excellence for outstanding export performance during 2003-04 for two-wheeler & three- wheelers - Complete (Non SSI) by Engineering Export Promotion Council. The NDTV Profit Car India & Bike India Awards 2006 in the following category:
Bike Maker of the Year
Bike of the Year - Achiever
Bike of the Year - Achiever (up to 150 cc category)
Bike of the Year - Glamour (up to 125 cc category)
NDTV Viewers' Choice Award to Glamour in the bike category
CORPORATE SOCIAL RESPONSIBILITY (CSR) STAKEHOLDER TIES AT THE GRASSROOTS Hero Honda Motors takes considerable pride in its stakeholder relationships, especially ones developed at the grassroots. The Company believes it has managed to bring an economically and socially backward region in Dharuhera, Haryana, into the national economic mainstream. An Integrated Rural Development Centre has been set up on 40 acres of land along the Delhi-Jaipur Highway. The Centre-complete with wide approach roads, clean water, and education facilities for both adults and children-now nurtures a vibrant, educated and healthy community. The Foundation has adopted various villages located within vicinity of the Hero Honda factory at Dharuhera for integrated rural development. This includes:
Installation of deep bore hand pumps to provide clean drinking water.
Constructing metalled roads and connecting these villages to the National Highway (NH -8).
Renovating primary school buildings and providing hygienic water and toilet facilities. 22
Ensuring a proper drainage system at each of these villages to prevent waterlogging.
Promoting non-conventional sources of energy by providing a 50 per cent subsidy on biogas plants.
The Raman Munjal Vidya Mandir began with three classes (up to class II) and 55 students from nearby areas. It has now grown into a modern Senior Secondary, CBSE affiliated co-educational school with over 1200 students and 61 teachers. The school has a spacious playground, an ultra-modern laboratory, a well-equipped audio visual room, an activity room, a well-stocked library and a computer centre. The Raman Munjal Sports Complex has basketball courts, volleyball courts, and hockey and football grounds are used by the local villagers. In the near future, sports academies are planned for volley ball and basket ball, in collaboration with National Sports Authority of India.
Vocational Training Centre In order to help local rural people, especially women, Hero Honda has set up a Vocational Training Centre. So far 26 batches comprising of nearly 625 women have been trained in tailoring, embroidery and knitting. The Company has helped women trained at this centre to set up a production unit to stitch uniforms for Hero Honda employees. Interestingly, most of the women are now self-employed. Adult Literacy Mission This Scheme was launched on 21st September, 1999, covering the nearby villages of Malpura, Kapriwas and Sidhrawali. The project started with a modest enrolment of 36 adults. Hero Honda is now in the process of imparting Adult Literacy Capsules to another 100 adults by getting village heads and other prominent villagers to motivate illiterate adults. Marriages of underprivileged girls Marriages are organized from time to time, particularly for girls from backward classes, by the Foundation by providing financial help and other support to the families.
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Rural Health Care Besides setting up a modern hospital, the Foundation also regularly provides doorstep health care services to the local community. Free health care and medical camps are now a regular feature in the Hero Group's community outreach program KEY POLICIES
AN ENVIRONMENTALLY AND SOCIALLY, AWARE
COMPANY At Hero Honda, our goal is not only to sell you a bike, but also to help you every step of the way in making your world a better place to live in. Besides its will to provide a highquality service to all of its customers, Hero Honda takes a stand as a socially responsible enterprise respectful of its environment and respectful of the important issues.
Hero Honda has been strongly committed not only to environmental conservation programmers but also expresses the increasingly inseparable balance between the economic concerns and the environmental and social issues faced by a business. A business must not grow at the expense of mankind and man's future but rather must serve mankind. "We must do something for the community from whose land we generate our wealth." A famous quote from our Worthy Chairman Mr.Brijmohan Lall Munjal. Environment Policy We at Hero Honda are committed to demonstrate excellence in our environmental performance on a continual basis, as an intrinsic element of our corporate philosophy. To achieve this we commit ourselves to:
Integrate environmental attributes and cleaner production in all our business processes and practices with specific consideration to substitution of hazardous chemicals, where viable and strengthen the greening of supply chain.
Continue product innovations to improve environmental compatibility.
Comply with all applicable environmental legislation and also controlling our environmental discharges through the principles of "alara" (as low as reasonably achievable).
Institutionalise resource conservation, in particular, in the areas of oil, water, electrical energy, paints and chemicals. 24
Enhance environmental awareness of our employees and dealers / vendors, while promoting their involvement in ensuring sound environmental management.
Quality Policy Excellence in quality is the core value of Hero Honda's philosophy. We are committed at all levels to achieve high quality in whatever we do, particularly in our products and services which will meet and exceed customer's growing aspirations through:
Innovation in products, processes and services.
Continuous improvement in our total quality management systems.
Teamwork and responsibility.
Safety Policy Hero Honda is committed to safety and health of its employees and other persons who may be affected by its operations. We believe that the safe work practices lead to better business performance, motivated workforce and higher productivity. We shall create a safety culture in the organization by:
Integrating safety and health matters in all our activities.
Ensuring compliance with all applicable legislative requirements.
Empowering employees to ensure safety in their respective work places.
Promoting safety and health awareness amongst employees, suppliers and contractors.
Continuous improvements in safety performance through precautions besides participation and training of employees.
INTRODUCTION ABOUT PHOENIX DEALER PROFILE (PHOENIX MOTORS) PHOENIX MOTORS PVT LTD is dealership type of business. PHOENIX MOTORS PVT LTD. is established on 21st march 2003. The business is running by only one man. The owner name is ch .madhu mathi the firm is located at habsiguda in Hyderabad. 25
Generally the sale will be either on cash basis or on institutional basis. Bank like ICICI, HDFC and CENTURION are providing loans to customers. Advertising strategy of phoenix motors: They are giving the ads through newspapers, wall paintings, hoardings and field staff. They are upgrading sales by introducing the schemes, group bookings, institutional sales and customer door-to-door activities. Categorization of Staff members: Staff members are categorized for technicians, 25 members are allotted for field staff, 5 members are recruited for sales for persons, 5 persons are placed for evaluating for spare parts, 5 members are allotted for managerial accounts and another 3 persons for cash transaction and other members are allotted for remaining work. Customer relationship: They entertain the showroom providing a customer‟s huge having pool game, internet facility and television with home there system. They provide bile maintenance programs on every week. According to other dealers PHOENIX motors in first in sales and best in service. They treat customer, is the very important person at PHOENIX motors customer satisfaction is their motto, why because, they will satisfied customer is the best advertisement. They provide better value for the customers and as well as employees also. At PHOENIX motors the customer is the boss. SALES STRATEGY OF PHOENIX MOTORS: Average they are selling 25 vehicles per day. PHOENIX motors PVT L.T.D is the A.P s NO.1 dealership in sales and other activities? It is a QLAD (qualify leader through quality dealer). At PHOENIX motor they gave the quality service to the 26
customers why because „the cost is long forgotten but the quality is remembered for ever”. They treat quality has a... Q
Quest for excellence
U
Understanding customer‟s needs
A
Action to achieve customer‟s appreciation.
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Leadership determined to be a leader
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involving all the people
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Team spirit to work for a common goal
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Yard sticks to measure programs.
WARRANTY ON PROPRIETARY ITEMS: Warranty on proprietary items like Tyros, Tubes and Battery etc, will be directly handled by the respective original manufactures (OEM‟s) except AMCO for batteries and Dunlop and Falcon tires and Tubes. In case of any defect in proprietary items, other than the above two mentioned OEM‟S the dealers must approach the Brach office dealer of the respective manufacture. For AMCO batteries and Dunlop and falcon tires, tubes claims will be accepted at our authorized dealerships per the mutually agreed terms and conditions between HERO HONDA and of these two OEM‟s in case the claim is not accepted for invalid reasons. Then the claim along with the refusal note form the OEM can be sent to the warranty section at gorgon plan after due to recommendation of the area service engineer. If any other six services or subsequent paid services is not availed as per the recommended schedule given in the owner‟s manual. If HERO HONDA recommended engine oil is not used. To normal wear & tear components like bulbs, electric wiring, filters, spark plug, clutch plates, braded shoes, fasteners, shim washers, oil seals, gaskets, rubber parts (other than tyre and tube) plastic components, chain$ sprockets and in case of wheel rim misalignment or bend. 27
If there is any damage due o modification or fittings of accessories other than ones recommended by HERO HONDA. If the motor has been used in any competitive events like tracking races or rallies. If there is any damage to the painted surface due to industrial pollution or other extraneous factors. For clams made for any consequential damage due to any previous malfunction. For normal phenomenon like noise, vibration, oil seepage, which do not affect the performance of the motorcycles.
SOCIAL SERVICE ACTIVITIES PHOENIX motors participate and conduct social service activities. Recently the phoenix motors organized a BLOOD DONATION CAMP for the trust on 21st January 2006.they motivated on the consumers to participated in this camp and also provide certificate for the customers
THE MARKETED BIKES OF PHOENIX (All Hero Moto Corp.)
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CUSTOMER RELATIONSHIP:
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To entertain the customers the showroom providing a customers huge having pool game, Internet facility and television with home theatre system. They provide bike maintenance programs on every week. According to other dealers PHOENIX motors in first in sales and best in service. They treat customer, is the very important person at PHOENIX motors customer satisfaction is their motto, why because, the well satisfied customer is the best advertisement. They provide better value for the customers and as well as employees also. At PHONIX motors the customer is the boss.
SOCIAL SERVICE ACTIVITIES PHOENIX Motors participates in social service activities. The Phoenix motors organize a BLOOD DONATION CAMP for the trust in every year. They motivated on the customers to participated in this camp and also provide Certificate for the customers.
CONSUMER BUYING BEHAVIOR Definition: Consumer behavior refers to the mental and emotional process and the observable behavior of consumers during searching, purchasing and post consumption of a product or service. Consumer behavior involves study of how people buy, what they buy, when they buy and why they buy. It blends the elements from psychology, sociology, sociopsychology, anthropology and economics. It also tries to assess the influence on the consumer from groups such as family, friends, reference groups and society in general. Buyer behavior has two aspects: the final purchase activity visible to any observer and the detailed or short decision process that may involve the interplay of a number of complex variables not visible to anyone.
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What influences consumers to purchase products or services? The consumer buying process is a complex matter as many internal and external factors have an impact on the buying decisions of the consumer. When purchasing a product there several processes, which consumers go through. These will be discussed below. Purchase decision Through the evaluation process discussed above consumers will reach their final purchase decision and they reach the final process of going through the purchase action e.g. The process of going to the shop to buy the product, which for some consumers can be as just as rewarding as actually purchasing the product. Purchase of the product can either be through the store, the web, or over the phone. Post Purchase Behavior Ever have doubts about the product after you purchased it? This simply is post purchase behavior and research shows that it is a common trait amongst purchasers of products. Manufacturers of products clearly want recent consumers to feel proud of their purchase, it is therefore just as important for manufacturers to advertise for the sake of their recent purchaser so consumers feel comfortable that they own a product from a strong and reputable organization. This limits post purchase behavior. i.e. You feel reassured that you own the latest advertised product. Factors influencing the behavior of buyers. Consumer behavior is affected by many uncontrollable factors. Just think, what influences you before you buy a product or service? Your friends, your upbringing, your culture, the media, a role model or influences from certain groups? Culture is one factor that influences behavior. Simply culture is defined as our attitudes and beliefs. But how are these attitudes and beliefs developed? As an individual growing up, a child is influenced by their parents, brothers, sister and other family member who may teach them what is wrong or right. They learn about their religion and culture, which helps them develop these opinions, attitudes and beliefs (AIO) . These factors will 33
influence their purchase behavior however other factors like groups of friends, or people they look up to may influence their choices of purchasing a particular product or service. Reference groups are particular groups of people some people may look up towards to that have an impact on consumer behavior. So they can be simply a band like the Spice Girls or your immediate family members. Opinion leaders are those people that you look up to because your respect their views and judgments and these views may influence consumer decisions. So it maybe a friend who works with the IT trade who may influence your decision on what computer to buy. The economical environment also has an impact on consumer behavior; do consumers have a secure job and a regular income to spend on goods? Marketing and advertising obviously influence consumers in trying to evoke them to purchase a particular product or service. Peoples social status will also impact their behavior. What is their role within society? Are they Actors? Doctors? Office worker? and mothers and fathers also? Clearly being parents affects your buying habits depending on the age of the children, the type of job may mean you need to purchase formal clothes, the income which is earned has an impact. The lifePerformence of someone who earns £250000 would clearly be different from someone who earns £25000. Also characters have an influence on buying decision. Whether the person is extrovert (out going and spends on entertainment) or introvert (keeps to themselves and purchases via online or mail order) again has an impact on the types of purchases made. Maslow’s Hierarchy of Needs Abraham Maslow hierarchy of needs theory sets out to explain what motivated individuals in life to achieve. He set out his answer in a form of a hierarchy. He suggests individuals aim to meet basic psychological needs of hunger and thirst. When this has been met they then move up to the next stage of the hierarchy, safety needs, where the priority lay with job security and the knowing that an income will be available to them regularly. Social needs come in the next level of the hierarchy, the need to belong or be loved is a natural human desire and people do strive for this belonging. Esteem need is the need for status and recognition within society, status sometimes drives people, the need to have a good job title and be recognized or the need to wear branded clothes as a symbol of status. But how does this concept help an organization trying to market a product or service? 34
Well as we have established earlier within this website, marketing is about meeting needs and providing benefits, Maslow‟s concept suggests that needs change as we go along our path of striving for self-actualization. Supermarket firms develop value brands to meet the psychological needs of hunger and thirst. Harrods develops products and services for those who want have met their esteem needs. So Maslow‟s concept is useful for marketers as it can help them understand and develop consumer needs and wants. CUSTOMER A competitor, in order to achieve the loyalty of the customers, offer an endless information flow on the products and services and thereby continuously educates the customer about the opportunities in the market. Therefore today even an ordinary person, is in possession of the large amount of data to use for the purpose of making a decision as to which products/ services he would go in for. The competitive environment is making the customer wisher day by day and he is able to take a large number of decisions on his own. The experts‟ advice of the olden days is being replaced by the customer‟s own wisdom. This is making the market place more complicated and unpredictable. The customer is getting smarter today and he is able to decide his own money‟s worth and therefore, organization across the board are `pursuing the customer‟s views to streamline their business strategies to remain customer- worthy. People are the prime factor for any organization to maintain the effectiveness and thus develop the right focus for the people, so that each one perceives as clearly as possible his position in the cycle of growth and prosperity of the organization. Agendas will have to be drawn in such a manner and communicated so effectively that the individual is able to enjoy a meaningful life in the organization, endowed with authority and responsibility for the role he plays. “One should be able to see for oneself the impact of the contributions one has made towards the growth and prosperity cycle of the organization. As a matter of fact the relationship between the people and the organization should be so designed that each one is here to experience the pleasure of winning and pain of losing. People alone are of no significance unless and until they have an intimate and continuous interaction with the process”. Therefore organization have to take continuous care to update their quality of the people and that of processes simultaneously so that a healthy relationship is built up and 35
maintained making the relationship happy and healthy one. This, when done, should generate in people a sense of entrepreneurship ownership of the organization. “Since the customer are the main focus of any organization its structure should be so flat i.e., people fluently interact with the customer and maintain continuous feedback about the customer‟s moods and methods in order to shape its business portfolio and strategies”.
It is very important to find whether the fundamentals of the organization are getting strong as desired. It is therefore rightly said that a well trained army with quality arms and ammunitions and with a sense of involvement can got the nations frontiers inn desirable and dependable manner similarly: people at the operation level with superior competency and capability supplied with superior products and strategies can acquire a place for an organization in the market place. Retail outlets are the contact points of the customers and therefore the image of the organization largely depends upon the quality of the people managing the interventions and transactions at the level. The Consumer Market: The consume market consists of all the individuals and households who buy or acquire goods and services for personal consumption. The simplest model consumer buyer behavior is the stimulus – response model. According to this model marketing stimuli ( the four Ps) and the major forces (economic, technological, political, cultural) enter the consumer‟s “black box” and reproduce certain responses. 36
Social factors influence buyer‟s behavior. A person‟s reference group-family, friends, social organizations, professional associations- strongly affect product and brand choices.
The buyer‟s age, life-cycle stage, occupation, economic circumstances,
lifePerformence, personality, and other personal. Characteristics influence his or her buying decisions. Consumer life-Performences the pattern of acting and interacting in the world are also an important influences on purchase decisions.
Finally, consumer-buying behavior is influenced by four major psychological factors- motivation, perception, learning, and beliefs and attitudes. Each of these factors provides a different perspective for understanding the workings of the buyer‟s black box. 37
CONSUMER PERCEPTION It can be defined as the process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world. A stimulus is a unit of input to any of the senses. Examples of stimulus ie, sensory input include products, packages, brand names, advertisements, and commercials, sensory receptor. Marketers do not want their target audience to look only at the models in their ads. They want to communicate something about their products as well. Marketers often use attractive models,humour, other factors to attract the target market‟s interest. Information processing is a series of activities by which stimuli are perceived, transformed in to information, and stored. Information processing model has four major steps or stages, a)
Exposure
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Attention
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Interpretation, and
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Memory 38
The first three constitute perception. Exposure occurs when a stimulus such as an Advertisement hoarding comes within the range of a person‟s vision. Attention occurs when the information from vision pass on to the brain for processing. Interpretation is the assignment of meaning to the received sensations. Memory is the short – term use of the meaning for immediate decision-making or the longerterm retention of the meaning. The basic components shown in the figure can be arranged into four groups: 1. Stimuli, which serve as the raw material to be processed. The stages of processing activities, which are linked by arrows and mainly internal to the customer. Situational and consumer characteristics which can influence the nature of these processing activities, and an executive system, which guides the process by regulating the type and intensity of processing activities engaged in, at any time.
Consumer Buying Behavior Possibly the most challenging concept in marketing deals with understanding why buyers do what they do (or don‟t do). But such knowledge is critical for marketers since Wanting a strong understanding of buyer behavior will help shed light on what is important to the customer and also suggest the important influences on customer decision-making. Using this information, marketers can create marketing programs that they believe will be of interest to customers. As you might guess, factors affecting how customers make decisions are extremely complex. Buyer behavior is deeply rooted in psychology with dashes of sociology thrown in just to make things more interesting. Since every person in the world is different, it is impossible to have simple rules that explain how buying decisions are made. But those who have spent many years analyzing customer activity have presented us with useful “guidelines” in how someone decides whether or not to make a purchase.
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In fact, pick up any textbook that examines customer behavior and each seems to approach it from a different angle. The perspective we take is to touch on just the basic concepts that appear to be commonly accepted as influencing customer behavior. We will devote two sections of the Principles of Marketing Tutorials to customer behavior. In this section we will examine the buying behavior of consumers (i.e., when people buy for personal reasons) while in the Business Buying Behavior tutorial we will examine factors that influence buyer‟s decisions in the business market.
Why Consumers Buy As we discussed in the What is Marketing? tutorial, customers make purchases in order to satisfy needs. Some of these needs are basic and must be filled by everyone on the planet (e.g., food, shelter) while others are not required for basic survival and vary depending on the person. It probably makes more sense to classify needs that are not a necessity as wants or desires. In fact, in many countries where the standard of living is very high, a large portion of the population‟s income is spent on wants and desires rather than on basic needs. In this tutorial when we mention the consumer we are referring to the actual buyer, the person spending the money. But is should also be pointed out that the one who does the buying is not necessarily the user of what is bought and that others may be involved in the buying decision in addition to the actual buyer. While the purchasing process in the consumer market is not as complex as the business market, Wanting multiple people involved in a purchase decision is not unusual. For example, in planning for a family vacation the mother may make the hotel reservations but others in the family may have input on the hotel choice. Similarly, a father may purchase snacks at the grocery store but his young child may be the one who selected it from the store shelf. So understanding consumer purchase behavior involves not only understanding how decisions are made but also understanding the dynamics that influence purchases.
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What Influences Purchasing As we discussed the decision-making process for consumers is anything but straight forward. There are many factors that can affect this process as a person works through the purchase decision. The number of potential influences on consumer behavior is limitless. However, marketers are well served to understand the KEY influences. By doing so they may be in a position to tailor their marketing efforts to take advantage of these influences in a way that will satisfy the consumer and the marketer (remember this is a key part of the definition of marketing).
For the purposes of this tutorial we will break these influences down into three main categories: Internal, External and Marketing. However, those interested in learning more about customer buying activity may want to consult one or more consumer behavior books where they will find additional methods for explaining consumer buying behavior. 41
For the most part the influences are not mutually exclusive. Instead, they are all interconnected and, as we will see, work together to form who we are and how we behave. For each of the influences that are discussed we will provide a basic description and also suggest its implication to marketers. Bear in mind we only provide a few marketing implications for each influence; clearly there are many more.
Internal Influences: Perceptual Filter We start our examination of the influences on consumer purchase decisions by first looking inside ourselves to see which are the most important internal factors that affect how we make choices. Perceptual Filter Perception is how we see ourselves and the world we live in. However, what ends up being stored inside us doesn‟t always get there in a direct manner. Often our mental makeup results from information that has been consciously or subconsciously filtered as we experience it, a process we refer to as a perceptual filter. To us this is our reality, though it does not mean it is an accurate reflection on what is real. Thus, perception is the way we filter stimuli (e.g., someone talking to us, reading a newspaper story) and then make sense out of it. Perception has several steps.
Exposure – sensing a stimuli (e.g. seeing an ad)
Attention – an effort to recognize the nature of a stimuli (e.g. recognizing it is an ad)
Awareness – assigning meaning to a stimuli (e.g., humorous ad for particular product)
Retention – adding the meaning to one‟s internal makeup (i.e., product has fun ads)
How these steps are eventually carried out depends on a person‟s approach to learning. By learning we mean how someone changes what they know, which in turn may affect how they act. There are many theories of learning, a discussion of which is beyond the scope of this tutorial, however, suffice to say that people are likely to learn in different ways. For instance, one person may be able to focus very strongly on a certain advertisement and be able to retain the 42
information after being exposed only one time while another person may need to be exposed to the same advertisement many times before he/she even recognizes what it is. Consumers are also more likely to retain information if a person has a strong interest in the stimuli. If a person is in need of new car they are more likely to pay attention to a new advertisement for a car while someone who does not need a car may need to see the advertisement many times before they recognize the brand of automobile. Marketing Implications: Marketers spend large sums of money in an attempt to get customers to have a positive impression of their products. But clearly the existence of a perceptual filter suggests that getting to this stage is not easy. Exposing consumers to a product can be very challenging considering the amount of competing product messages (ads) that are also trying to accomplish the same objective (i.e., advertising clutter). So marketers must be creative and use various means to deliver their message. Once the message reaches consumer it must be interesting enough to capture their attention (e.g., talk about the product‟s benefits). But attending to the message is not enough. For marketers the most critical step is the one that occurs with awareness. Here marketers must continually monitor and respond if their message becomes distorted in ways that will negatively shape its meaning. This can often happen due in part to competitive activity (e.g., comparison advertisements). Finally, getting the consumer to give positive meaning to the message they have retained requires the marketer make sure that consumers accurately interpret the facts about the product.
Internal Influences: Knowledge Knowledge is the sum of all information known by a person. It is the facts of the world as he/she knows it and the depth of knowledge is a function of the breadth of worldly experiences and the strength of an individual‟s long-term memory. Obviously what exists as knowledge to an individual depends on how an individual‟s perceptual filter makes sense of the information it is exposed to. Marketing Implications: Marketers may conduct research that will gauge consumers‟ level of knowledge regarding their 43
product. As we will see below, it is likely that other factors influencing consumer behavior are in large part shaped by what is known about a product. Thus, developing methods (e.g., incentives) to encourage consumers to accept more information (or correct information) may affect other influencing factors.
Internal Influences: Attitude In simple terms attitude refers to what a person feels or believes about something. Additionally, attitude may be reflected in how an individual acts based on his or her beliefs. Once formed, attitudes can be very difficult to change. Thus, if a consumer has a negative attitude toward a particular issue it will take considerable effort to change what they believe to be true. Marketing Implications: Marketers facing consumers who have a negative attitude toward their product must work to identify the key issues shaping a consumer‟s attitude then adjust marketing decisions (e.g., advertising) in an effort to change the attitude. For companies competing against strong rivals to whom loyal consumers exhibit a positive attitude, an important strategy is to work to see why consumers feel positive toward the competitor and then try to meet or beat the competitor on these issues. Alternatively, a company can try to locate customers who feel negatively toward the competitor and then increase awareness among this group.
Internal Influences: Personality An individual‟s personality relates to perceived personal characteristics that are consistently exhibited, especially when one acts in the presence of others. In most, but not all, cases the behaviors one projects in a situation is similar to the behaviors a person exhibits in another situation. In this way personality is the sum of sensory experiences others get from experiencing a person (i.e., how one talks, reacts). While one‟s personality is often interpreted by those we interact with, the person has their own vision of their personality, called Self Concept, which may or may not be the same has how others view us. Marketing Implications: For marketers it is important to know that consumers make purchase decisions to support their 44
self concept. Using research techniques to identify how customers view themselves may give marketers insight into products and promotion options that are not readily apparent. For example, when examining consumers a marketer may initially build marketing strategy around more obvious clues to consumption behavior, such as consumer‟s demographic indicators (e.g., age, occupation, income). However, in-depth research may yield information that shows consumers are purchasing products to fulfill self-concept objectives that have little to do with the demographic category they fall into (e.g., senior citizen may be making purchases that make them feel younger). Appealing to the consumer‟s self concept needs could expand the market to which the product is targeted.
Internal Influences: LifePerformence This influencing factor relates to the way we live through the activities we engage in and interests we express. In simple terms it is what we value out of life. LifePerformence is often determined by how we spend our time and money. Marketing Implications: Products and services are purchased to support consumers‟ lifePerformences. Marketers have worked hard researching how consumers in their target markets live their lives since this information is key to developing products, suggesting promotional strategies and even determining how best to distribute products. The fact that lifePerformence is so directly tied to marketing activity will be further examined as we discuss developing target market strategies (See Targeting Markets) tutoria
Internal Influences: Motivation Motivation relates to our desire to achieve a certain outcome. Many internal factors we have already discussed can affect a customer‟s desire to achieve a certain outcome but there are others. For instance, when it comes to making purchase decisions customers‟ motivation could be affected by such issues as financial position (e.g., Can I afford the purchase?), time constraints (e.g., Do I need to make the purchase quickly?), overall value (e.g., Am I getting my money’s worth?), and perceived risk (e.g., What happens if I make a bad decision?).
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Marketing Implications: Motivation is also closely tied to the concept of Involvement, which relates to how much effort the consumer will exert in making a decision. Highly motivated consumers will want to get mentally and physically involved in the purchase process. Not all products have a high percentage of highly involved customers (e.g., milk) but marketers who market products and services that may lead to high level of consumer involvement should prepare options that will be attractive to this group. For instance, marketers should make it easy for consumers to learn about their product (e.g., information on website, free video preview) and, for some products, allow customers to experience the product (e.g., free trial) before committing to the purchase
Internal Influences: Roles Roles represent the position we feel we hold or others feel we should hold when dealing in a group environment. These positions carry certain responsibilities yet it is important to understand that some of these responsibilities may, in fact, be perceived and not spelled out or even accepted by others. In support of their roles, consumers will make product choices that may vary depending on which role they are assuming. As illustration, a person who is responsible for selecting snack food for an office party his boss will attend may choose higher quality products than he would choose when selecting snacks for his family. Marketing Implications: Advertisers often show how the benefits of their products aid consumers as they perform certain roles. Typically the underlying message of this promotional approach is to suggest that using the advertiser‟s product will help raise one‟s status in the eyes of others while using a competitor‟s product may have a negative effect on status.
External Influences: Culture Consumer purchasing decisions are often affected by factors that are outside of their control but have direct or indirect impact on how we live and what we consume. One example of this are cultural factors
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Culture represents the behavior, beliefs and, in many cases, the way we act learned by interacting or observing other members of society. In this way much of what we do is shared behavior, passed along from one member of society to another. Yet culture is a broad concept that, while of interest to marketers, is not nearly as important as understanding what occurs within smaller groups or Sub-Cultures to which we may also belong. Sub-cultures also have shared values but this occurs within smaller groups. For instance, sub-cultures exist where groups share similar values in terms of ethnicity, religious beliefs, geographic location, special interests and many others. Marketing Implications: As part of their efforts to convince customers to purchase their products, marketers often use cultural representations, especially in promotional appeals. The objective is to connect to consumers using cultural references that are easily understood and often embraced by the consumer. By doing so the marketer hopes the consumer feels more comfortable with or can relate better to the product since it corresponds with their cultural values. Additionally, smart marketers use strong research efforts in an attempt to identify differences in how sub-culture behaves. These efforts help pave the way for spotting trends within a sub-culture, which the marketer can capitalize on through new marketing tactics (e.g., new products, new sales channels, added value, etc.).
External Influences: Group Membership In addition to cultural influences, consumers belong to many other groups with which they share certain characteristics and which may influence purchase decisions. Often these groups contain Opinion Leaders or others who have major influence on what the customer purchases. Some of the basic groups we may belong to include:
Social Class – represents the social standing one has within a society based on such factors as income level, education, occupation
Family – one‟s family situation can have a strong effect on how purchase decisions are made
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Reference groups – most consumers simultaneously belong to many other groups with which they associate or, in some cases, feel the need to disassociate
Marketing Implications: Identifying and understanding the groups consumers belong to is a key strategy for marketers. Doing so helps identify target markets, develop new products, and create appealing marketing promotions to which consumers can relate. In particular, marketers seek to locate group leaders and others to whom members of the group look for advice or direction. These opinion leaders, if well respected by the group, can be used to gain insight into group behavior and if these opinion leaders accept promotional opportunities could act as effective spokespeople for the marketer‟s products.
External Influences: Purchase Situation Purchase Situation A purchase decision can be strongly affected by the situation in which people find themselves. In general, a situation is the circumstances a person faces when making a purchase decision, such as the nature of their physical environment, their emotional state, or time constraints. Not all situations are controllable, in which case a consumer may not follow their normal process for making a purchase decision. For instance, if a person needs a product quickly and a store does not carry the brand they normally purchase, the customer may choose a competitor‟s product. Marketing Implications: Marketers can take advantage of decisions made in uncontrollable situations in at least two ways. First, marketers can use promotional methods to reinforce a specific selection of products when the consumer is confronted with a particular situation. For example, automotive services can be purchased that promise to service vehicles if the user runs into problems anywhere and at anytime. Second, marketers can use marketing methods that attempt to convince consumers that a situation is less likely to occur if the marketer‟s product is used. This can also be seen with auto products, where marketers explain that using their product will prevent unexpected damage to their vehicles.
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Types of Consumer Purchase Decisions Consumers are faced with purchase decisions nearly every day. But not all decisions are treated the same. Some decisions are more complex than others and thus require more effort by the consumer. Other decisions are fairly routine and require little effort. In general, consumers face four types of purchase decisions: Minor New Purchase – these purchases represent something new to a consumer but in the customer‟s mind is not a very important purchase in terms of need, money or other reason (e.g., status within a group).
Minor Re-Purchase – these are the most routine of all purchases and often the consumer returns to purchase the same product without giving much thought to other product options (i.e., consumer is brand loyalty).
Major New Purchase – these purchases are the most difficult of all purchases because the product being purchased is important to the consumer but the consumer has little or no previous experience making these decisions. The consumer‟s lack of confidence in making this type of decision often (but not always) requires the consumer to engage in an extensive decision-making process..
Major Re-Purchase - these purchase decisions are also important to the consumer but the consumer feels confident in making these decisions since they have previous experience purchasing the product.
For marketers it is important to understand how consumers treat the purchase decisions they face. If a company is targeting customers who feel a purchase decision is difficult (i.e., Major New Purchase), their marketing strategy may vary greatly from a company targeting customers who view the purchase decision as routine. In fact, the same company may face both situations at the same time; for some the product is new, while other customers see the purchase as routine. The implication of buying behavior for marketers is that different buying situations require different marketing efforts.
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How Consumers Buy So now that we have discussed the factors influencing a consumer‟s decision to purchase, let‟s examine the process itself. This process is presented in a sequence of 5 steps as shown below.
However, whether a consumer will actually carryout each step depends on the type of purchase decision that is faced. For instance, for minor re-purchases the consumer may be quite loyal to the same brand, thus the decision is a routine one (i.e., buy the same product) and little effort is involved in making a purchase decision. In cases of routine, brand loyal purchases consumers may skip several steps in the purchasing process since they know exactly what they want allowing the consumer to move quickly through the steps. But for more complex decisions, such as Major New Purchases, the purchasing process can extend for days, weeks, months or longer. So in presenting these steps marketers should realize that, depending on the circumstances surrounding the purchase, the importance of each step may vary.
Purchase Decision Steps 1 and 2 1. Need/Want/Desire is recognized In the first step the consumer has determined that for some reason he/she is not satisfied (i.e., consumer‟s perceived actual condition) and wants to improve his/her situation (i.e., consumer‟s perceived desired condition). For instance, internal triggers, such as hunger or thirst, may tell the consumer that food or drink is needed. External factors can also trigger consumer‟s needs. 50
Marketers are particularly good at this through advertising, in-store displays and even the intentional use of scent (e.g., perfume counters). At this stage the decision-making process may stall if the consumer is not motivated to continue (see Motivation above). However, if the consumer does have the internal drive to satisfy the need they will continue to the next step. 2. Search for Information Assuming consumers are motivated to satisfy his or her need, they will next undertake a search for information on possible solutions. The sources used to acquire this information may be as simple as remembering information from past experience (i.e., memory) or the consumer may expend considerable effort to locate information from outside sources (e.g., Internet search, talk with others, etc.). How much effort the consumer directs toward searching depends on such factors as: the importance of satisfying the need, familiarity with available solutions, and the amount of time available to search. To appeal to consumers who are at the search stage, marketers should make efforts to ensure consumers can locate information related to their product. For example, for marketers whose customers rely on the Internet for information gathering, attaining high rankings in search engines has become a critical marketing objective.
Purchase Decision Steps 3, 4 and 5 3. Evaluate Options Consumers‟ search efforts may result in a set of options from which a choice can be made. It should be noted that there may be two levels to this stage. At level one the consumer may create a set of possible solutions to their needs (i.e., product types) while at level two the consumer may be evaluating particular products (i.e., brands) within each solution. For example, a consumer who needs to replace a television has multiple solutions to choose from such as plasma, LCD and CRT televisions. Within each solution type will be multiple brands from which to choose. Marketers need to understand how consumers evaluate product options and why some products are included while others are not. Most importantly, marketers must determine which criteria consumers are using in their selection of possible options and how each criterion is evaluated. Returning to the television example, marketing tactics will be most effective when the marketer can tailor their efforts by knowing what benefits are most important to consumers when selecting 51
options (e.g., picture quality, brand name, screen size, etc.) and then determine the order of importance of each benefit.
4. Purchase In many cases the solution chosen by the consumer is the same as the product whose evaluation is the highest. However, this may change when it is actually time to make the purchase. The "intended" purchase may be altered at the time of purchase for many reasons such as: the product is out-of-stock, a competitor offers an incentive at the point-of-purchase (e.g., store salesperson mentions a competitor‟s offer), the customer lacks the necessary funds (e.g., credit card not working), or members of the consumer‟s reference group take a negative view of the purchase (e.g., friend is critical of purchase). Marketers whose product is most desirable to the consumer must make sure that the transaction goes smoothly. For example, Internet retailers have worked hard to prevent consumers from abandoning online purchase (i.e., online shopping carts) by streamlining the checkout process. For marketers whose product is not the consumer‟s selected product, last chance marketing efforts may be worth exploring, such as offering incentives to store personnel to "talk up" their product at the checkout line. 5. After-Purchase Evaluation Once the consumer has made the purchase they are faced with an evaluation of the decision. If the product performs below the consumer‟s expectation then he/she will re-evaluate satisfaction with the decision, which at its extreme may result in the consumer returning the product while in less extreme situations the consumer will retain the purchased item but may take a negative view of the product. Such evaluations are more likely to occur in cases of expensive or highly important purchases. To help ease the concerns consumers have with their purchase evaluation, marketers need to be receptive and even encourage consumer contact. Customer service centers and follow-up market research are useful tools in helping to address purchasers‟ concerns.
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CHAPTER 2
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OBJECTIVE OF THE STUDY:
Main objective: The main objective of the study is to study the buying motives of the customers regarding purchasing bikes in Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.). SPECIFIC OBJECTIVES:
1. To gain an understanding of the theories and concepts of Buyer Behavior, to find the age group, educational back ground, occupation / profession and income and income level of the respondents. 2. To know whether the customer is interested to purchase bikes in Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.) or not. 3. To find respondents reason for purchasing the bikes in Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.) 4. To know the important reason the respondents give to each factor for purchasing bikes in Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.). 5. To know the customer service satisfaction from the respondents. 6. To know the awareness of the brand Hero MotoCorp Ltd.
NEED FOR THE STUDY:
Customers consider various factors for purchasing of bikes in Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.). The factors they consider are based on certain demographic variables such as income, age, occupation etc. It also depends on attributes and life Performance of the customer buying behavior becomes essential to get a competitive edge.
SCOPE OF THE PROJECT The study aims to measure buying behavior level of the customers regarding Hero MotoCorp Ltd. industries. The area within which the study was conducted regarding the information the primary data is collected in the form of questionnaire collected from the dealers in Rangareddy 54
district. To sum up the project had within the scope of the study in the area of “Customer Buying Behavior” of Hero MotoCorp Ltd. in Rangareddy district for a particular time (2012). The research measures the experiences of customers. Defines and analyses the experiences based on key deliverables. Gains insights into Customer expectations. Research Methodology SOURCES OF DATA:
DATA COLLECTION INSTRUMENTS: PRIMARRY METHOD:
Primary data are those, which are collected fresh and for the first time and this happen to be original in character. In this study primary data was collected by interview schedule method.
SECONDARY METHOD:
Secondary data are those, which are collected from existing data. Secondary data for this study include appropriate material from newspaper, Magazines, Broachers, Company Reports, Standard Text Books, and information from Internet has also been acquired wherever necessary.
FIELD WORK:
The project involved a fieldwork of around 1 month 15 days where in the survey was carried out. The survey was conducted in different areas of Hyderabad such as Koti, bowenpally, Ameerpet, L.B Nagar, Hayath nagar.
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METHODOLOGICAL ASSUMPTIONS:
a) The primary data has been collected by an interview schedule.
b) The sample for the study was selected on a convenience basis
c) All primary data collected is true and reflects the actual actions of the Respondents.
d) The data collected has been coded, tabulated and analyzed into logical Statement using simple statistical methods, pie charts, etc.
DESCRIPTION OF THE RESEARCH DESIGN:
A research design is a logical and systematic plan prepared for directing a research study it specifies the methodology and technique to be adopted for achieving the objectives. It constitutes the blueprint for the collection, measurement and analysis of data.
The main aim of the study is to evaluate the brand image of Hero Honda. The study is descriptive in nature. Surveys are best-suited method for descriptive research. So survey method is used for the study.
The preparation of a research plan for a study aids in establishing direction to the study and knowing exactly what has to be done and how and when it has to be done at every stage.
A research plan describes the boundaries of research activities and enables the research to channel his energies in the right work. With clear research objectives, in view the research can proceed systematically towards his achievements.
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SAMPLING PROCEDURES:
Sampling is a systematic approach for selecting a few elements from an entire collection of units (population) in order to make some inference about the total population it is a small specimen or a segment of the whole population representing its general qualities as for as possible. The study was undertaken by convenience sampling.
SAMPLE SIZE: The study is conducted on a sample of 100 respondents.
SAMPLING FRAME: The population for the study consists of Big bazaar owners in the cities of Hyderabad and Secunderabad.
RESEARCH INSTRUMENTS: An interview schedule was used to conduct the study.
LIMITATIONS: I. II.
The Time Period Of Project Is 45 Days. Though The Customers Wanted To Give Information They could not Give As It Wastes Their Business Time.
III.
The Accuracy Of The Answers Depends Upon The Mode Of Interest Of Respondents.
IV.
The opinions of the sample may or may not depict the exact opinions of the total population.
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CHAPTER 3
DATA ANALYSIS & INTERPRETATION
58
AGE GROUP OF THE RESPONDENTS: The below table shows the age group of the respondents surveyed:
AGE
No Of Respondents
18-28
8
28-38
28
38-48
10
Above 48
54
Total
100
No Of Respondents 120 100 80 60
No Of Respondents
40 20 0 18-28
28-38
38-48
Above 48
Total
INFERENCE: From the above table, 8% of the respondents belong to the age group of 18-28 years, 28% of the respondents belong to the age group of 28-38 years, 10% of the respondents belong to the age group of 38-48 years, 54% of the respondents belong to the age group of above 48 years.
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OCCUPATION OF THE RESPONDENTS: The below table shows the type of respondents of the respondents surveyed. Occupation
No Of Respondents
Student
0
Business
50
Private Employee
32
Govt Employee
18
Total
100
No Of Respondents 100 90 80 70 60 50 40 30 20 10 0
No Of Respondents
INFERENCE: From the above table 0% of the respondents are students, 50% of the respondents are businessmen, 32% of the respondents are private employee, 18% of the respondents are Govt employee.
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WANTING A BIKE OR NOT: The below table shows that whether the respondents is wanting a bike or not Wanting a bike or not
No of respondents
Yes
80
No
20
Total
100
Having a two wheeler or not
20% Yes No
80%
INFERENCE: From the above table 80%of people wanting bike and 20% do not want bike.
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TYPE OF BIKE THAT THE RESPONDENT IS WANTING: The below table shows the type of BIKE that the respondent is wanting. Type of BIKE
No of respondents
% of respondents
100CC
51
51
180CC
14
14
150CC
26
26
200CC
09
9
120 100 80 % of respondents
60
No of respondents
40 20 0 100CC
180CC
150CC
200CC
INFERENCE: From the above table 51%of the respondents are Wanting Hero MotoCorp Ltd 100CC BIKE. 14%of the respondents want 180CC. 26%of the respondents are wanting 150CC.9% of the respondents want 200CC.
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SOURCES OF INFORMATION The below table shows, from where did the respondent get the information about the BIKE. Sources of information
No of respondents
Offers
15
Advertisements
27
Referred from friends & relatives
33
Technology
10
Finance Schemes
15
Total
100
15%
15.00%
Offers Advertisements
10%
27.00%
Referred from friends & relatives Technology Finance Schemes
33%
INFERENCE: From the above table 15%of people known from offers, 27% of people known from advertisements, and 33% of people known from their friends and relatives, 10% of people known from technology, 15% of people known from finance schemes. 63
SATISFACTION WITH HERO MOTOCORP LTD BIKE:
HERO
Performance
Mileage
Features Price
Excellent
10
25
24
02
05
08
20
Very good
25
24
15
18
06
02
20
Good
10
21
25
12
15
35
25
Average
21
10
10
14
5
6
8
Poor
0
2
1
8
2
3
1
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
pickup
Reliability Brand Image
Poor Average Good Very good Excellent
INFERENCE: From the above table 17% of the respondents preferred PERFORMENCE as their main motive, 22% of the respondents preferred PRICE as their main motive, 4%of the respondents preferred FEATURES as their main motive, 22% of the respondents preferred TRANSPORT as their main motive, 2% of the respondents preferred RELIABILITY as their main motive, 21% of the respondents preferred BRAND IMAGE as their main motive. 64
PERFORMENCE:
The following table shows that, some of the brands of bikes respondents selected performance as their main motive. Brand
No of respondents
HERO
32
BAJAJ
35
HONDA
30
SUZIKI
03
Total
100
No of respondents
HERO BAJAJ HONDA SUZIKI Total
INFERENCE: The above table shows that Bajaj and Honda companies are the competitors with HERO Bikes.
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PRICE:
The following table shows that, some of the brands of respondents selected PRICE as their main motive.
No of respondents
Brand HERO
31
BAJAJ
18
HONDA
42
SUZIKI
9
Total
100
No of respondents 120 100 80 60
No of respondents
40 20 0 HERO
BAJAJ
HONDA
SUZIKI
Total
INFERENCE: The above table shows that HONDA is the competitor with HERO MOTO CORP LTD. 66
PICK UP:
The following table shows that, some of the brands of respondents selected PICK UP as their main motive.
Brand
No of respondents
HERO
50
BAJAJ
10
HONDA
30
SUZIKI
10
Total
100
No of respondents Axis Title
100 50 0 HERO
No of respondents
BAJAJ
HONDA
HERO 50
No of respondents SUZIKI
BAJAJ 10
Total HONDA 30
SUZIKI 10
Total 100
INFERENCE: The above table shows that HERO is the best.
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MILEAGE:
The following table shows that, some of the brands of respondents selected MILEAGE as their main motive.
MILEAGE
No of respondents
HERO
50
BAJAJ
10
HONDA
30
SUZIKI
10
Total
100
No of respondents 120 100 80 60
No of respondents
40 20 0 HERO
BAJAJ
HONDA
SUZIKI
Total
INFERENCE: The above table shows that HERO is the best.
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RELIABILITY:
The following table shows that, some of the brands of respondents selected RELIABILITY as their main motive.
Reliability
No of respondents
HERO
35
BAJAJ
15
HONDA
30
SUZIKI
20
Total
100
No of respondents 120 100 80 60
No of respondents
40 20 0 HERO
BAJAJ
HONDA
SUZIKI
Total
INFERENCE: The above table shows that HONDA is the competitor with HERO .
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FEATURES:
The following table shows that, some of the brands of respondents selected FEATURES as their main motive.
FEATURES
No of respondents
HERO
35
BAJAJ
15
HONDA
30
SUZIKI
20
Total
100
No of respondents 120 100 80 60
No of respondents
40 20 0 HERO
BAJAJ
HONDA
SUZIKI
Total
INFERENCE: The above table shows that HERO is the best.
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BRAND IMAGE:
The following table shows that, some of the brands of respondents selected BRAND IMAGE is their main motive
Brand Image
No of respondents
HERO
40
BAJAJ
20
HONDA
30
SUZIKI
10
Total
100
No of respondents 120 100 80 60
No of respondents
40 20 0 HERO
BAJAJ
HONDA
SUZIKI
Total
INFERENCE: The above table shows that HERO is the best.
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Respondents:
Respondents who want to buy the BIKE of a particular brand:
Brand
No of respondents
HERO
40
BAJAJ
15
HONDA
30
SUZIKI
15
Total
100
No of respondents 120 100 80 60
No of respondents
40 20 0 HERO
BAJAJ
HONDA
SUZIKI
Total
INFERENCE: The above table shows 40% of the respondents want to buy HERO BIKES. 72
CHAPTER-IV
73
CONCLUSION
45% of the respondents are Hero MotoCorp Ltd customers and hence it is most Preferred BIKE brand out of various brands.
Hero MotoCorp Ltd 150CC is the most preferred model out of all products 60% of the respondents are considering Hero MotoCorp Ltd brand before Purchasing there for use. Most of the respondents are getting information through friends Before purchasing the BIKE. Most of the respondents are Wanting good satisfaction with dealer Service comparing to other brands. Most of the respondents are giving more preference to mileage. 60% of the respondents are affecting by their friends and relatives.
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FINDINGS 50% of the Hero MotoCorp Ltd customers are business people and 32% of the customers are private employees. Most of the respondents belong to the age group of 18-50 years. Hero MotoCorp Ltd 150CC is the most preferred model in the Hero MotoCorp Ltd products. Most of the respondents getting information through the Media and friends before purchasing the vehicle. Most of the respondents are motivated by their friends and family members. Most of the respondents have good satisfaction with the performance of their BIKE strength. 64% of the respondents are satisfied with the mileage of their BIKE. Most of the respondents felt that the price is reasonable. Cent percent of the respondents satisfied with the response of the sales executive at first visit. 60% of the Hero MotoCorp Ltd users have good satisfaction with the performance given b the company. Most of the respondents are satisfied with the response of the company to the complaints given by the customers. Most of the respondents are satisfied with the fulfillment of promises by the company.
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SUGGESTIONS
The BIKEs recently introduced by Hero MotoCorp Ltd are mostly concerned about home base. So, they should also consider commercial people while manufacturing.
Indian market is a price sensitive market‟s the BIKEs should be at Minimum price with maximum quality.
The standard of pricing should be improved. Advertisements in Televisions, offers should be increased to attract the People.
If Hero MotoCorp Ltd can improve in Performance and brand image it will be the best in all the other competition brands.
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QUESTIONNAIRE BUYING MOTIVES FOR TWO WHEELERS
1.
NAME :
2.
AGE
:
18-25
3.
EDUCATION
Business
Govt. Employee
Private Employee
10000-20000
20000-30000
DO YOU HAVE OWN BIKE
Yes
8.
Professional
INCOME PER MONTH
5000-10000
7.
Post Graduate
OCCUPATION
Student
6.
Above-45
Female
Under Graduate Graduate
5.
35-45
GENDER
Male
4.
25-35
No
IF YES, WHICH BRAND YOU HAVE 77
HERO 9.
BAJAJ
HONDA
SUZUKI
WHAT IS THE MAIN MOTIVE BEHIND PURCHASING THAT BRAND?
Performance
TRANSPORT
10
FEATURES
Price
Reliability
Brand Image
IN WHICH WAY YOU PREFERED IN BUYING THAT PERTICULAR BRAND BIKE
?
Advertisement
Referred from friends & Relatives
Technology
Finance Schemes‟
Offers
11. RANK THE BIKE YOU OWN ON THESE FACTORS
POOR
AVERAGE
GOOD
VERY GOOD EXCELLENT
Performance
mileage
Features
Price
Pick up
78
Reliability Brand Image
12.
IF YOU DON‟T USE BIKE, THEN WHICH BRANDS YOU PREFER TO BUY?
HERO
BAJAJ
HONDA
SUZUKI
13.
WHAT IS THE REASON FOR SELECTING THAT BRAND?
Performance
Finance Facility
14.
Price
Brand Image
Mileage
Reliability
IN WHICH WAY YOU PREFERED IN BUYING THAT BRAND?
Offer
Technology
Advertisement
Referred from Friends & Relatives
Finance Schemes‟
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BIBILIOGRAPHY
S.No. AUTHOR NAME
1. PHILLIP KOTLER
REFERED BOOKS Principles of Marketing – 11th Edition Prentice Hall India.
2. PHILLIP KOTLAR
Marketing Management – Millennium Edition.Prentice Hall India
3. V.S.RAMASWAMY & NAMAKUMARI
4. RICHARD R STILL
Marketing Management -7th Edition Millennium India Ltd. Sales Management -5th Edition Prentice Hall India.
5. G.C.BERI
Marketing Research -6th Edition Tata McGraw Hill Co.Ltd.
6. LUCK DAVID & ROBIN RONALD
Marketing Research -7th Edition Prentice Hall India.
WEB SITES WWW.GOOGLE.COM WWW.HERO HONDA.COM WWW.GOOGELFINANCE.COM WWW.INDUSTRYSINDIA.COM
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