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A STUDY ON“CUSTMER SATISFACTION’’
WITH REFERENCE TO
SRI VARALAKSHMI MOTORS P.V.TLTD,VIZIANAGARAM
A Project Report submitted inPartial Fulfillment of requirements of the award of the degree in
MASTER OF BUSINESS ADMINISTRATION
Submitted by
T.JANARDHAN(Regd. No.2085480011)
Under the esteemed guidance of
Mr.K.V.SOMANADH,M.com, PGDIM, PGDMM, M.B.A., M.PHIL.
Teaching Associate,Andhra University Campus, Vizianagaram.
DEPARTMENT OF MANAGEMENT STUDIES
ANDHRA UNIVERSITY CAMPUS,
VIZIANAGARAM
(2008-2010)
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DEPARTMENT OF MANAGEMENT STUDIES
CERTIFICATE
This is to certify that this project work entitled
‘WORKING CAPITAL MANAGEMENT in VARAM POWER PLANT P.V.T
LTD,CHILAKAPALAM’ is a bonafied work done and submitted by,
ARAVIND KUMAR PYDISETTI(2008-2010) in partial fulfillment of the
requirement for the award of the degree of “MASTER OF BUSINESS
ADMINISTRATION” by the ANDHRA UNIVERSITY.
K.V.SOMANADHM.COM. PGDIM, PGDMM, MBA,M.Phil
Teaching associate,
Andhra University Campus,
Vizianagarams
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DECLARATION
I, ARAVIND KUMAR PYDISETTI pursuing MBA in
DEPARTMENT OF MANAGEMENT STUDIES hereby declare that the
project work entitled “WORKING CAPTIAL MANAGEMENT” in “VARAM
POWER PLANT P.V.T LTD” Submitted to “ANDHRA UNIVERSITY” in
partial fulfillment of the requirements for the award of the degree of “MASTER
OF BUSINESS ADMINISTRATION”, is a bonafied work done by me under the
guidance of Mr. K.V.SOMANADH, Teaching Associate to the best of my
knowledge, the work reported there in does not form part of any thesis or work
on the basis of which a degree or award was conferred on an earlier
occasion.
(P.ARAVIND KUMAR)
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ACKNOWLDGEMENT
I would like to express my sincere thanks to Mr.K.V.SOMANADH
garu, Teaching Associate Andhra University Campus, Vizianagaram for giving
me this opportunity to do the Project work in partial fulfillment of the requirement
for the award of the degree of MASTER OF BUSINESS ADMINISTRATION. And
i express my sincere thanks to him for rendering his valuable assistance and
guidance while doing my Project Work
Finally, I would like to express my gratitude to the Management of
VARAM POWER PLANT P.V.T LIMITED, for granting me the permission and I
would also like to thank in particular the following officers namely: K.Hari Babu,
Regional Manager for guiding me and extending their help and inspiration during
this crucial period.
.
P. ARAVIND KUMAR
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INTRODUCTION
The demand for two – wheelers in India is dependent upon factors like availability
of finance, increase in income levels, and restricted growth in public
transportation and movement in petrol prices. Expect petrol prices, all other
factors have positive correlation with the demand affects the demand for two-
wheelers, due to the increase in the running cost of a vehicle marketing, more
than any other business function, deals with customers. Understanding, creating,
communicating and delivering customer value and satisfaction are the heart of
marketing thinking practice.
“Marketing is the delivery of customer satisfaction at a profit”
Today marketing must be understood not in the old sense of marketing a sale
“Telling and selling” but in the new sense of satisfying customer needs.
Marketing continues through out the product lifecycle trying to find new
customers and keep current customers by improving product appeal and
performance learning from product sales results and managing repeat
performance Consumers usually face a bard array of products and service that
might satisfied a given need.
Consumer make buying choices based on their perception of the value that
various products and services deliver.Customer value is the difference between
the values the customer gains from owning and using a product and the costs of
obtaining the product.
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CUSTOMER SATISFACTION :
Customer satisfaction depends on a products perceived performance in
Delivering value relative to buyer’s expectations. If the products performance falls
short of the customers expectations the buyer is dissatisfied. If performance
matches expectations of the buyer is satisfied. If performance matches the
expectations of the buyers is satisfied. If performance exceeds expectations the
buyer is delighted.
Customers from their expectations on the basis of message received from
seller’s friends, and their past buying experiences, the opinions of friends and
associates, and Marketer and competitor and promises.
Satisfied customers make repeat purchases, and they tell others about their
Good experience with the product. The key is to match customer expectations
with Company performance.
The customer focused definitions saddest that a company has achieved total
quality only when its products or services meet or exceed customer expectations.
Thus the fundamental aim of today’s total quality management has become total
customer satisfaction. Quality begins with needs and with customer satisfaction.
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Almost all major purchases result in cognitive dissonance, or discomfort caused
by post purchase conflict. After the purchase consumers are satisfied with the
benefits of the chosen brand and are glad to avoid the drawbacks off the brands
not brought. However every purchase involves compromise. Consumers feel
uneasy about the acquiring the drawbacks of the chosen brand and about losing
the benefits of the brands not purchased.
Thus, consumers feel at least some post purchase dissonance for every
purchase.
Why is it so important to satisfy the customer? Such satisfaction is important
because company sales come from two basic groups-new customers and
retained customers. It usually costs more to attract new customer than to retain
current ones, and the best way to retain current customers is to keep them
satisfied. Customer’s satisfaction is a key to making lasting connections with
consumer to keeping and growing customers and reaping their customer lifetime
value. Satisfied customers buy a product again, talk favorably to others about the
product, pay less attention to competing brands and advertisement, and buy
other products from the company. Many marketers go beyond merely meeting
the expectations of the customers-they aim to delight the customer.A delighted
customer is even more likely to purchase again and to talk favorably about the
product and the company.
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A dissatisfied customer responds differently, whereas, on average, a satisfied
customer till three people about a good product experience, a dissatisfied
customer grips to eleven people. Clearly, bad word of mouth and can quickly
damage customer attitudes about a company and its products.
Therefore, accompany would be wise to measure customer satisfaction regularly.
It cannot simply rely on dissatisfied customers to volunteer their complaints when
they are dissatisfied. Some 96% of unhappy customers never tell the company
about their problems. Companies should setup systems that encourage
customers to complaint. In this way the company can learn how well it is doing
how it can improve. The 3M Company claims that over two thirds of its new
product ideas come from listening to customers complaints. But listening is not
enough the company also must respond constructively to the complaints it
receives.
Highly satisfied customer produces several benefits for the company. Satisfied
customers are fewer prices sensitive, talk variably about the company and its
products, and remain loyalty for long period. However, the relationship between
customer satisfaction and loyalty varies greatly across industries and competitive
situations Marketers alone cannot deliver superior customer value and
satisfaction. Although it plays a leading role, marketing can be only a partner in
attracting, keeping, and grow customers.
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NEED FOR THE STUDY :
The standard of living in India is improving year by year. People are able to afford
for luxury items for self-satisfaction and need fulfillment. In these scenario
automobiles, it is gaining its share because of new innovations and inventions in
automobile industry. Due to this motor vehicles are in full demand.
By looking at the demand number of companies started producing these
consumer durables, and wanted to capture good share in the market by offering
qualitative products.
With the opening up of the Indian economy and the liberalization policies of the
central government many leading international players have entered the Indian
market with their latest technology and international products. With the entry of
leading MNC’s into the market brands. But the consumers will buy only those
brands which will satisfy his requirements. Keeping other factors in mind such as
good quality, price, after sales service and other factors the consumer makes his
preference towards a particular brand.
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OBJECTIVES :
The study has been under taken to analyze the customer opinion of various
motor cycles in twin cities with a special reference to the hero Honda motors, the
other objectives are:
To know the Merits and Demerits of the Hero Honda motor
cycles
To know the Perception towards Brand. And after sales
service offer to buy hero Honda motors.
To find the importance of brand name for launching of new
product.
To offer suggestions, in improving the customer satisfaction.
The company sales and profitability and image to increase
the brand level.
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SCOPE OF THE STUDY:
The person who makes a product purchase is not always the user, or the only
users, of the product in question. Nor is the purchaser necessarily the person
who makes the product decision clearly, buyers are not always the users, or the
only users, of the product they buy nor or they necessarily the persons who make
the product selection decision.
Market must decide at whom to direct the promotional efforts. The buyer of the
user for some products, they must identify the person who is most likely to
influence the decision. Some markets believe that the buyer the product is the
best prospect, other believe it is the user of the product, which still other play its
safe by directing there promotional efforts to both buyers and users.
It is important for us to recognize why and how individuals make their
consumption decisions, so that we can make better strategic marketing decision.
It marketers understand consumer behavior, they are able to predict how
consumers are likely to react to various environmental uses, and are able to
shape their marketing strategies accordingly. Without doubt, marketers who
understand consumer behavior have great competitive advantage in the market
place.
Consumer is influenced by a variety of factors while making purchasing decision
Sociological, environmental, psychological, and cultural factors influence the
consumer buying decision making. The impact of these factors on consumer
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decision making process differ from product to product depending on that
production features and its utility. For instance, if a consumer wants to buy a
can, he is much influenced by the sociological factor because a car is a status-
symbol and while purchasing it, he thinks of
his image in the society and how far that decision enhance his image. He is less
bothered about economy.
Many other aspects like reference groups subcultures, family have also great
effect on the consumer buying decisions. For a product which is useful to all the
members of family like refrigerator or a television set, opinions of all the family
members have to be taken into consideration.
So, understanding the consumer behavior is quite essential for the markets. So
that he can segment his market aptly, he can correctly finds out his target
consumer, he can effectively communications with his target audience, he can
be able to know the growing needs of the customer and can effort to satisfy the
customer if not delight.
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RESEARCH METHODOLOGY
RESEARCH METHOD :
Two broad research methodologies can be used to answer any research
question. They are Experimental research and Non experimental research. In
experimental research, there is control over the extraneous variables and
manipulation of at lest one variable by the investigator. In Non experimental
research, there is no intervention beyond that needed for the purposes of
measurement.
RESEARCH DESIGN :
A research design is a statement or specification of the methods and procedures
used for acquiring the information needed for the solution of some specific
problems. It provides a scientific frame work for conducting a research.
Although research designs may be classified by many criteria, the most useful
one concerns the major purpose of the investigation. On this basis, research
design can be classified into three classes – Exploratory, Descriptive and
Causal. If no formal design or structural questionnaires are used, exploratory
design is used. If a person is conversant with the problem environment, or is
conducting the research for some specific purpose using structural questionnaire
to gather information, the research design is descriptive. Causal research design
is used to establish cause and effect relationships. For descriptive studies and
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also casual studies, data analysis and project output are critical aspects of
research planning. This study uses descriptive design.
DATA COLLECTION METHODS:
The following steps are involved in the data collection process:
1. Finding out the type of information required in the investigation process.
2. Establishing the facts that are available at present and the additional facts
required.
3. Identification of the sources from where the information can be available.
4. Selection of appropriate information collection method.
5. The data required from this study is collected from primary and secondary
sources.
6. The data collected are both qualitative and quantitative
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PRIMARY SOURCES :
The primary source used for gathering data required for this survey is –Survey
method.
In the survey method a Survey of the consumer’s behavior towards two-wheeler
is done. A Planned effort is made using structured questionnaires to interview
the respondents. The respondents are the owners of two-wheelers, who are
interviewed, are chosen using non probability sampling method. The surveys
can be done through personal interviews. In this study the respondents are
interviewed personally so that the errors involved in gathering the primary data
are minimized.
SECONDARY SOURCES:
The secondary sources used for collecting the data are:
1. Internal Sources
Company reports.
Company publications.
2. External Sources
Business dailies like – The Economic Times, The business Line etc. News
papers like – The Times of India, The Indian Express, The Hindu etc.
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Information was also gathered from magazines like – Business Today, Business
World, A&M etc.
Other than these sources information was also gathered from internet.
SAMPLING PROCESS:
Taking into account the practical considerations (such as time, limit, cost, etc.)
the study a sample survey as the means of gathering primary information. A
sample survey allows a person to concentrate his attention upon a relatively
small number of people and hence, to devote more time and energy to ensure
that the information collected from them is more accurate.
DEFINING THE POPULATION:
The first thing that a sample plan must include is the definition of the population
to be investigated. The population should be defined as clearly as possible. The
population chosen for the study, taking into consideration the objectives of the
study are defined as, all the consumers of two-wheelers.
SAMPLE DESIGN:
Sample design is the heart of the sample planning process. A sample design
involves specifications of the type of sample used, the appropriate sampling unit,
and the sample size.
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TYPE OF SAMPLE:
The study uses non-probability sampling. Most of the sampling in marketing
research is non-probability in nature. Of the various non-probability methods,
convenience sampling method is used in this study rather than using a table of
random numbers as in probability sampling. Convenience sampling means that
the sampling units are accessible, convenient and easy to measure. The
advantage of choosing a non-probability sampling methods is that the sampling
error will be lesser when compare to probability sampling.
SAMPLING UNIT:
The sampling unit forms the basis of the entire sampling procedure. It is that
which is actually chosen by the sampling process. The sampling unit may
contain one or more population elements. The sampling unit in the study
consists of the employees private and government, business people and
students.
SAMPLE SIZE:
The sample consists of 100 customers selected from the vizianagaram district
using convenience sampling method. Out of the customers selected fro the
study, some did not own two-Wheelers and some had no responded will. Hence
they had to be replaced by other customers.
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INTRODUCTION TO AUTOMOBILE INDUSTRY
Automobile have become of the order of the present life-style of the society.
Almost every one is influenced by one or other motor vehicles in his/her day to
day life. Life becoming more and more complex with less time available and
solutions to our needs. Our motor vehicles are such medium which has proved
its usefulness as compared to other means.
Present Market is flooded with number of brands. Unfortunately all of them do
not meet all the requirements sought by the customers. These days customer is
quite aware of the innovation made in the field of automobiles and also knows
what are the features in the different brands. As our economy is developing
major section of our society has acquired the capacity to afford motor vehicles.
Obviously this very fact brings many competitors into the field to capture the
potential market. But the customers actually seeks from his/her
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PLAN OF THE STUDY
Chapter 1 includes introduction
Chapter 2 includes review of literature
Chapter 3 includes company profile
Chapter 4 includes data analysis and interpretation
Chapter 5 includes summary and conclusions
Chapter 6 include recommendations
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LIMITATIONS OF STUDY
Taking the market conditions into consideration the survey, which includes a
sample of 100, was a respective one.
• Due to the limitation of span of time and limited resource survey was
conducted for a period of 8 weeks.
• The geographic region covered for the survey was limited to the
boundaries of the vizianagaram city.
• Since the survey was conducted at the residential localities and the
person who owns a Hero Honda Vehicle.
• Improper response from customers and buyers, but it was mini
• Scientific methods of post testing could not be conduct
• Minimal possible bias in administrating the questions at the survey
conducted areas.
• The reaction and attitudes are subjected to changes according to needs
and time.
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CHAPTER - 3
REVIEW OF LITERATURE-1
CUSTOMER SATISFACTION : AS CORE COMPETENCE
Author: Parimal Vyas.
OVERVIEW:
Time was when one had to wait for months, even year to buy a car in India The
options of Indian drivers were limited to just a few home made and heavy cars
such as the Ambassador, Premier Padmini etc. The collaboration of the
Japanese car giant Suzuki with in Indian car maker maruti completely changed
the market. Maruti 800 a small family car became a priced possession for Indians
but now that two seems ancient in the current glut of new cars of Indian roads. It
is Honda, Hyundai and other models that have become the pride of Indian roads.
The Marketing Discipline is undergoing fresh reappraisal in the light of the vast
global, technological, economic and social challenges facing today’s companies
and countries. Marketing at its best is about value creation and raising world’s
living standards. Today’s winning companies are those who succeed most in
satisfying, indeed delighting their target customers.
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SCOPE AND PERIOD:
Although attempts have been made to define satisfaction in marketing and
related literatures, no consensus exists. Because meaning is influenced by
context, the concept often differs according to the particular setting and purpose
of a theory.
In the field of medical care, Patient satisfaction has been defined as “a
generalized positive attitude on the part of the patient toward the medical care
delivery system (Goemet, undated), which implies that “Satisfaction is a
measurable attitude”.
CONCLUSION:
Customers’ satisfaction can be considered as one of the key indicator of
company’s future profits. The development of satisfaction theory has led to the
emergence of two perspectives viz (i) The study of customers’, satisfaction
through product performance and (ii) The study of customers’, satisfaction as its
own construct.
FINDINGS:
The perspective of “Consumer-Oriented” marketing championed in the early
1960s by academics McCarthy (1960) and Philip Kotler (1967 & 1996) is based
on determining what a target group of customers want and the maximizing their
satisfaction with the product or service. Customers ‘satisfaction is at the very
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heart of the particular of marketing. Unfortunately marketers in the 1990s seem
to have developed a form of “Satisfaction Myoa” too often focusing on the
tangible attributes of their offering rather then the benefit delivered to target
prospects.
In general satisfaction is a person’s feelings of pleasure or disappointment
resulting from comparing a product’s perceived performance or outcome in
relation to his or her expectations. According to a comprehensive review
conducted by Yi Voujae (1993) customer’s satisfaction has been defined in two
basic ways: As either an outcome or as a process. Customers satisfaction has
been” Legitimized” by the Baldrige Award criteria. Customers satisfaction is the
leading criterion for determining the quality actually delivered to customers
through the product/service. Customers’ satisfaction has long-reaching impact
on the current and future viability of an organization.
SOURCE
Book: The Indian Journal of Marketing
Volume: XXIX
Period: April June, 1999
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REVIEW OF LITERATURE - 2
CUSTOMER SATISFACTION
Author: vimal sukumar
In the new economy, producing more, however efficiently, is not necessarily
better. There is a pressing need to augment current approaches to evaluating
the financial health of individual firms. To understand more fully the modern
economy, we must measure the quantity of economic output as well as the
quality.
Companies of every size run harder and faster, striving to become 110 percent
customer-sensitive in order to attain this illusive level of performance. They
make every conceivable concession and offer every possible value-added
service in order to retain those who do business with them. But customers still
leave. The “customers for life” concept is a myth—a pleasant one to be sure, but
a myth nonetheless. Fit is what every CEO wants to believe exists. Yet, in
reality, it is nothing more than a sinister delusion portraying an unattainable goal.
No customer is for life. Rather, they exist for measurable periods of time--and
even then, customer loyalty is never 100 percent. Whether they are consumers
or purchasing agents, today’s buyers are selective
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FINDINGS:
Contributes to the profitability of the firm by allowing firms to charge higher
prices, by reducing advertising expenditure, by reducing the number of product
faults, and by enhancing the firm’s reputation.
The concept of limited loyalty opens the door to reaching attainable, useful goals
and meeting achievable expectations. Here are 20 ways to increase customer
loyalty and improve the prospects of keeping customers longer. Individually, no
listed item is particularly potent. Only when they are used to in significant
clusters do they make a noticeable impact. The goal is to implement as many as
possible.
CONSLUSIONS:
Every business can offer a desirable guarantee, one that makes sense to its
customers. A hair transplant clinic guarantees that each micro graft will grow for
the remainder of the patient’s life. By putting reputation on the line, it separates
itself from several dozen competitors. There are those who continue to argue that
800 numbers are impersonal, suggesting that companies are not local. Not
today. An 800 telephone number is simply a way of saying, “We want you so
much, we’re willing to make it easy for you to communicate with us. It’s like
saying, “Welcome.” Like the JTM people.
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Chapter-4
COMPANY PROFILE
HISTORY
The Legend of Hero Honda
What started out as a Joint Venture between Hero Group, the World’s largest
bicycle manufacturers and the Honda Motor Company of Japan, has today
become the world’s single largest two wheeler Company. Coming into existence
on January 19, 1984, Hero Honda Motors Limited gave India nothing less than a
revolution on to-wheels made even more famous by the ‘Fill it – Shut it – Forget
it’ campaign. Driven by the trust of over a 5 million customers, the Hero Honda
product range today commands a market share of 48% making it a veritable
giant in the industry. Add to that technological excellence, an expansive dealer
network, and reliable after sales service, and you have one of the most
customer-friendly companies.
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This is proved by the company’s sales over the years:
1985-86 43,000 Units
1989-90 96,200 Units
1998-99 5,30,600 Units
1999-00 7,61,210 Units
2000-01 10,29,555 Units
2001-02 14,25,195 Units
2002-03 15,75,537 Units
2003-04 16,73,421 Units
2004-05 17,84,124 Units
2005-06 18,13,015 Units
2006-07 19,25,107 Units
2007-08
Customer satisfaction, a high quality product, the strength of Honda technology
and the Hero group’s dynamism have helped NHML scale new frontiers and
exceed limits.
In the Words of Mr.Brij Mohal Lall Munjal, the Chairman and Managing
Director, “We will continue to make every effort required for the development of
the motorcycle industry, through new product development, technological
innovation, and investment in equipment and facilities and through the though
efficient management.
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The Hero group of company’s is the first generation entrepreneur of 1950’s.
Today the group produces five million bicycles and one million two-wheelers
annually. It has committed work force over 15,000. Hero group has accomplished
this consistently since the inception.
The four-stroke of Hero Honda aimed at maximizing quality, design, riding
comfort, fuel efficiency and service and resale value.
Hero Honda had another philosophy common with Honda motors that of taking
care of the distribution network and sharing. Profits with share holders and
dealers. Because dealers are the direct interface for customers (in fact they are
the first level of customers) most crucial link in the supply chain. Only a highly
motivated dealer can satisfy and care for the customer.
Hero Honda has emerged as the leading motor cycle; company has reached the
prospective market share of 50% in the current financial year after the first
quarter results. And, records one of the fastest growth trend in the world’s
achieving 4 million plus motor cycles owners in a short span of 15 years.
The new millennium augurs a new dream and makes the beginning of the
second 50 years of Honda. Thereafter the company declared year 2000 as the
“year of the customers”
Mr.Brij Mohan Lall Munjal, Chairman of Hero Honda motors limited was the
recipient of the sir Jehangir Gandhi Medal for industrial peace, at the 44th
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Convocation of XLRI (Xavier Labor Research Institute), Jamshedpur, on 1st
March, 2000.
The finance has agreed a national tie up under which the finance company will
offer attractive financing schemes to the customers for the complete range of
hero Honda motor cycles on a preferential status.
It has of 26% of hero Honda group, 26% of hero group and 48% of pubic limited
finance, with the share price of 10 Rupees. March 7th 2000 shipments of motors
cycles adhering to Y2K, norms have begun clearly demonstrating the company’s
commitment to extraordinary standards of quality yin their products. The Y2K
norms or India 2000 norms or Euro norms are standards laid down by the
Ministry of Environment with record to emission and noise levels in two –
wheelers. The company has achieved this remarkable compliance well ahead of
the rest of the auto industry.
The company has already advised all its dealers to ensure compliance. With the
above notification by ensuring delivery of the first aid kid to the customers as well
as obtain a receipt on their particular aspects.
Institutional preference for hero Honda bikes has continued with increasing
momentum primarily due to company’s commitment to reliability customer
satisfaction, world class quality , superior technology and out standing serving
stands with more institutional customers preferring the hero Honda brands for
their bulk purchase, the company it self has given market a high priority.
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Keeping varied customers segments and their needs in mind, her Honda offers
the widest range of motor cycles in the country today. The endeavor is to make
the people favorite her Honda bikes accessible to them virtually at their door
step. This is the reflect vast dealer network of 427 strong and till growing.
Hero Honda cannot leave a single stone unturned to provide our customers with
the most competitive maintained services and to ensure that the customers get
full value for their money. Hero Honda has over 550 workshops with trained
machines and the latest equipment. Apart from technical training, the service
staff is groomed and sensitized to the need for providing prompt, courteous
service.
At Hero Honda they are committed to provide their customers access to genuine
spare parts at a reasonable price. Towards this end, they have 10 dedicated
spare parts stockiest, apart from the 500 plus authorized dealers and outlets. A
state-of-the-art spare parts center is being inaugurated at Gurgon. And all hero
Honda spare parts carry a tamper proof hologram, so the customers can
purchase with confidence.
Splendor’ one of the motor cycles hero Honda motors limited has become the
largest selling motor cycle in India and treated as world’s no.1 two-wheeler
brand.
Hero Honda motors Limited is World’s no.1 Motor cycles company. It first
introduced the concept of fuel-efficient 7-stroke motor cycle in India. They
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revolutionized the industry not only in the state-of-the-art but also with some of
the most environment friendly vehicles in the world. They have the commitment
and care for a better environment. Now, it has a range with an optimal mix of
power, economy, style and latest technology. It has set a new trend of stylish and
power bikes with the launch of CBZ. It was declared as “Motor cycle of the year”
by over drive, the popular auto magazines.
Hero Honda performance in the Motorcycles segment improved due to the
launch of new models. This includes CBZ launched last year directly urban
customers.
Hero Honda received many awards and Accolade from various association for
achieving there results in the industry and in the country.
Believe work is worshipping karma hi puja hai. I see the same philosophy and
passion in these young men as “desh ki dhadhkan”
On 22nnd March 2001: Hero Honda reaffirmed it undisputed leadership by
achieving “OM”. On the occasion of a successful completion the record sales of a
one million plus bikes in a financial year. This comes in the wake of series of
spectacular results achieved last year, in terms of sales value, turn over and
profits and this growth is all the more significant when viewed against the current
sluggish market conditions. With such a commanding market presents, hero
Honda id the undisputed “desh ki dhadhkan”
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Hero Honda has used a clearly defined product strategy, which caters to different
segments to different segments among pricing, fuel efficiency, four-stroke
engines, styling reliability and riding comfort. Hero Honda has managed to stay in
the two wheeler sweepstakes from the catch line fill it, shut it an forget it. Hero
Honda has traversed the distance of embed itself in the customers mental space
with new slogan
“desh ki dhadhkan”. Supplying Baja auto’s Jingoistic “hamara bajaj ” jingle most
effectively.
Initiated to focus an environment conservation and awareness, Hero Honda’s
popular “We care’ programmed now extends its influence to multi dimensional
activities, for the social-economic betterment of society. Hero Honda believes in
providing the best of service, as reflected in their corporate “We care ‘
philosophy. An extension of this is the passport program, popular known as
“suhana safar ” this unique program aims to build long term relationship with
customers. This passport program membership benefits the customers in a
number of ways. With accidentally insurance cover worth of 1lakh and many
more reward cum discounts on spare parts and to get many prices.
COMPANY PERFORMANCE
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Sales Performance
It is may privilege to share with you the fact that by the end of the calendar year
2001, Hero Honda became the largest single tow-wheeler manufacturer in the
country and also in the world. The leading edge got consolidated by the close of
financial 2001-02 with a record sale of 1.43 million units. This equivalent to
35.2% growth on the previous year sale of 1.03 million units. In the same
manner, the market share of the company increased to 48% and 33% in
motorcycle and two-wheeler, respectively.
Last year, two new models were launched, namely Passion and Joy to address
super-style and economy segments. Passion has found its position firm amongst
Indian models, only next to Splendor , the largest selling bike in the world in
terms of sales performance. Joy was re launched as Dawn, in April 2002, with
changes and value additions to cater to specific needs of the customers.
Reportedly Dawn is doing well in its segments and has sold over 10,000 units in
the initial months itself.
Hero Honda has targeted a sale of over 1.8 millions bikes for the year 2002-03.
This effort is supplemented by two major launches this year, one in September
and the other coinciding with World Cup Series in early 2003, which is being
sponsored by Hero Honda Motors Ltd. These bikes will have some novel
features and will be in the 100cc plus range. There is an ambitious program of
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launching a new range of bikes with technical support from Honda in the coming
years.
With a slew of such measures the capacity available at present locations
can at best support two-million production targets at the existing plants. The
company, therefore, is looking at the possibility of setting up a third plant to meet
the future demand and for which techno-economic study is in progress.
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Hero Honda begins 2004 in the 5th Gear!
Records phenomenal January Sales Retails expected to cross the 21 lakh
motorcycle mark in the month Growth of 35% in Sales during January 2004.
Continuing with its incredible performance over the past many months. Hero
Honda, the ‘World No.1’ two-wheeler company has begun the New Year with a
leap! While the company sold 1, 95,982 motorcycles in January, the retails are
expected to be more than 2-Lakh motorcycles. This is the third instance in the
last four months when the company has come close to, or exceeded the 2-lakh-
motorcycle mark.
The company achieved a solid growth of 35% as compared with sales recording
during the January, 2003.
The cumulative sales of the company for the period April, 2003- January 2004
are 16, 73,421 motorcycles, a notable jump from 14, 27,052 units sales achieved
during the corresponding period last year (April 2002- January 2003). This
reflects a growth of 17% in the cumulative sales of the company.
Following the highly successful launches in the past few months, Hero Honda
has just strengthened its premium segments range with the launch of Ambition
135. It is an ideal model for consumers wanting a combination of contemporary
style and power, with good fuel efficiency. Ambition 135 has a styling which his
very close to CBZ. It provides the customers a great blend of Style and Power.
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Repeating the Success of October 2003, Hero Honda, the ‘World No.1’ two-
wheeler company has sold over 2 lakhs motorcycle units a month, for two
consecutive months. Hero Honda motorcycle sold 2, 04,533 units in November,
registering a superb growth of 26%.
The success has been well spread across all major motorcycle segments. The
Splendor + and Passion Plus duo together consolidated the company’s
leadership in the executive segments. Launched in mid-April 2003, CD Dawn
cemented its leadership in the entry segment. CD dawn is now the second
highest selling motorcycle model in the country, after the Hero Honda Splendor.
Hero Honda Motor Ltd., the country’s largest two-wheeler marker, finished the
year 2002-03 with the total motorcycle sales of 1,677,535 units; a growth of 18%
over last year’s sales of 1,425,302 motorcycles.
For the month of March 2003, the company posted sales of 115,722 motorcycles
compared to 135,164 in March 2002. As reported earlier, the economic
slowdown, as a consequent of drought in certain parts of the country, and low
agricultural production, affected the demand for a whole lot of durables including
motorcycles. Lack of clarity on VAT issues also impacted sales.
The company achieved a significant landmark in exceeding its sales turnover
target of Rs.5000 crores during the year; up from Rs.4539.49 crores in the
previous year.
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Sponsorships:
The association of Hero Honda with sports began in 1993, with the sponsorship
of the India-Sri lanka Test Series, followed by the hero cup in November 1993.
Hero Honda come forward to sponsor the challenger cricket tournament the NKP
S love trophy as an annual even in a unique bid to stimulate competitive
environment for the countries cricket talent to share there skills and prepare for
the international competitors. The challenger tournament will also be the testing
ground for new comers to the first class cricket.
Hero Honda has appointed Hritik Roshan a successful hero in the field of Hindi
film industry and Saurav Ganguly, Indian Cricket Team captain and a best player
in the Indian Cricket team as brand ambassadors. Welcoming them to hero
Honda family, Mr.Brij Mohan Lall Munjal Chairman of hero Honda said.
DISTRIBUTOR PROFILE
VARALAKSHMI MOTORS (P) LTD.
Varalakshmi Motors was established on 21st March 2003 by the golden
hands of Hero Honda Managing Director Mr.Brij Mohan Lall Munjal.
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Conquering Greater Heights
Varalakshmi, in mythology is an enhancing bird and a symbol of immortality.
Taking this is an inspiration, we, at Varalakshmi Motors, set-out to chart new
frontiers. And we have done so in style, with a track record that speaks for itself.
We ensure maximum customer satisfaction, while maintaining a success streak
that is unparalleled.
Our Distinctions:
One of the largest authorized dealers for Hero Honda Motors. Record sales in
the first year of operation.
Partners in progress:
The Varalakshmi Motors as a centralized air conditioned showroom of hero
Honda its kind in Andhra Pradesh, spread gracefully and decorated elegantly
over an impressive 7,300 sq.ft at Vizianagaram being equipped with affable Front
office staff and adept professional Technicians, provide a perfect of quality
Service and Reliability.
In a very short stint, this one stop of hero Honda housing sales, service and
spares has also the hearts of many proud owners of Hero Honda with its
Customized Care and Service, it switch the gears and become connotation of
Hero Honda in Chennai.
Space friendly:
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The interior are aimed at making you feel completely at ease, in luxury. Because
for us the customer is king, one who deserves a regal offering. The setting is apt
for times when you need switch into a relaxed state of mind.
Service with commitment:
Our dedicated team of mechanical specialties offers expert treatment for your
vehicle. We ensure consistency in performance each time, without fail.
Attention to details:
We provide genuine spare parts and accessories to ensure exceptional
performance. Every single aspect related to your vehicle is taken care of at our
premises.
Dealing made Convenient:
It is a part of our commitment policy to give advantage to the customer at every
juncture. We offer assistance of every kind at our premises itself, which makes it
a one stop facility.
Expert guidance at every step:
Our sales team give utmost priority to your satisfaction. When you need help to
make the right choice, it is ensured that the result is beyond your expectations.
Thus making it a point that you get the best in both luxury and comfort always.
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Models
Hero Honda has been launching various models of motorcycles from the year
1984, keeping in mind the quality, design, riding comfort, fuel-efficiency, and
service and resale value. These form a formidable force that gives our customers
the pride and the joy of value forever. What drives hero Honda is
• Leadership
• Commitment
•
Any an eye for appropriate technology
Since 1984, when Hero Honda first began producing motor cycle, hero Honda
have been engaged in a single-minded endeavor to bring you bikes that are not
only state-of-the art, but are also some of the most environment-friendly vehicles
in this world-a reflection of our commitment and care, for better environment.
PROMOTINAL ACTIVITIES:
The promotional activities adopted by Varalakshmi Motors are
1) Advertising in Newspapers
2) Free Campaign
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3) Test Rides
4) Gift Schemes
5) Hoarding and Wall Paintings
6) Mileage Contents
Promotional expenses have been borne by both Varalakshmi Motors and Hero
Honda, shares in advertisement cost.
SERVICE OFFERED:
The services offered to the customer in Varalakshmi Motors are
Six free Services and paid services after sale of motor cycles.
• Free Checkup Campaigns
• Finance through banks
• Demonstrations for new products.
• Acceptance of warranty claims
WORKING TIME:
Working hours in Varalakshmi Motors are 12 hours per day commencing from
9AM to 9PM with one hours break for lunch.
PRODUCT AVAILABLE AT VARALAKSHMI MOTORS:
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Varalakshmi Motors has franchise of Hero Honda Company .Hero Honda
Company manufacturers various types of motor cycles.
These are
Hero Honda CD Dawn
Hero Honda CD Deluxe
Hero Honda Splendor +
Hero Honda Super Splendor
Hero Honda Passion Plus
Hero Honda CBZ*.X TREME
Hero Honda Karizma
Hero Hunk
PRICE LIST OF HERO HONDA MOTOR CYCLES IN VARALAKSHMI
MOTORS
MOTOR CYCLES PRICES (Rs.)
Hero Honda CD Dawn 31,900
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Hero Honda CD Deluxe 36,500
Hero Honda Splendor + 40,090
Hero Honda Super Splendor 45,000
Hero Honda Passion Plus 43,850
Hero Honda CBZ*.XTREME 57,601
Hero Honda Karizma 74,001
Hero Honda Hunk 54,008
Taken to analyze the customer opinion of various motor cycles.
Chapter-5
DATA ANALYSIS & INTERPRETATION
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For the purpose of study, data has been collected from the consumers who use
two-dealer through survey. After that data has been analyzed and interpreted
accordingly.
TWO-WHEELER USERS
Table-01
PARTICULARS NO.OF RESPONDENTS PENCENTAGE
HERO HONDA 55 55%
TVS 13 13%
BAJAJ 24 24%
OTHER 8 8%
TOTAL 100 100%
CHART-01
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0
10
20
30
40
50
60
Herohanda Tvs Bajaj Others
INTERPRETATION:
• The above table shows the users of different types of two- Wheelers
• In the survey out of 100 customers, 55 customers i.e., 55% of customers
are using HERO HONDA.
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0
10
20
30
40
50
60
70
80
Cash Finance
INTERPRETATION:
• The above table shows the mode of purchase Customers.
• In the survey out of 100 customers, 76 customers i.e.,76% of customers
have bought the two-wheeler.
• Through direct cash payment 24 customers i.e., 24% of customers have
bought the two-wheeler through finance.
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CUSTOMER’S PREFERENCE WHILE PURCHASING
TABLE -03
PARTICULARS NO.OF
RESPONDENTS
PERCENTAGE
STYLE 30 30%
MILEAGE 38 38%
COMFORT 20 20%
PICK-UP 7 7%
PRICE 5 5%
TOTAL 100 100%
CHART-03
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0
5
10
15
2025
30
35
40
Style Mileage Comfort Pick-up Price
INTERPRETATION:
• The above table shows the customer’s preference while purchase of the
vehicle
• In the survey 38 customers i.e., 38% customers are giving preference to
mileage
• In the survey out of 100 customers, 30 customers i.e. 30% of customers
are giving preference to style
• 20 customers, i.e. 20% of customers are giving preference to comfort
• 07 customers i.e. 07% of customers are giving preference to pick-up
• 05 customers i.e. 05% of customers are giving preference to price.
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CUSTOMER SATISFACTION ON THE COST OF VEHICLE
TABLE-04
PARTICULARS
NO.OF
RESPONDENTS
PERCENTAGE
YES 95 95%
NO 5 5%
TOTAL 100 100%
CHART-04
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0
10
20
30
40
50
60
70
80
90
100
Yes No
INTERPRETATION:
• The above table shows the customer satisfaction with the cost of the
vehicle
• In the survey out of 100 customers, 95 customers i.e., 95% of customers
are satisfied with the cost of there vehicle
•
05 customers i.e., 05% of customers are not satisfied with the cost of
there vehicle
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CUSTOMER SATISFACTION WITH MILEAGE OF THE VEHICLE
TABLE-05
PARTICULARS NO.OF
RESPONDENTS
PERCENTAGE
YES 78 78%
NO 22 22%
TOTAL 100 100%
CHART-05
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0
10
20
30
40
50
60
70
80
Yes No
INTERPRETATION
• The above table shows the customer satisfaction with the mileage of the
vehicle.
• In the survey out of 100 customers, 78 customers i.e., 78% of customers
are satisfied with the mileage of there vehicle.
• 22 customers i.e., 22% of customers are not satisfied with the mileage of
there vehicle.
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CUSTOMER SATISFACTION WITH THE SERVICE CENTRE
TABLE-06
PARTICULARS NO.OF
RESPONDENTS
PERCENTAGE
YES 87 87%
NO 13 13%
TOTAL 100 100%
CHART-06
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BUYING INFLUENCES OF THE VEHICLE
TABLE-07
PARTICULARS NO.OFRESPONDENTS PERCENTAGE
BRAND 55 55%
FAMILY & FRIEND 25 25%
ADVERTISEMENT 15 15%
OFFERS 5 5%
TOTAL 100 100%
CHART-07
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0
10
20
30
40
50
60
Brand Frand&Friend Advertisement Offers
INTERPRETATION:
• The above table shows the influencing the customer’s buying
influence to purchase of the vehicle.
• In the survey out of 100 customers, 55 customers i.e, 55% of
customers are influenced by brand name to buy the vehicle.
• customers i.e., 25% of customers are influenced through family and
friends to buy the vehicle.
• 15 customers i.e. 15% of customers are influenced through
advertisements to buy the vehicle.
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0
10
20
30
40
50
6070
80
90
Yes No
INTERPRETATION:
• The above table shows the role of advertisement in decision-
making
• In the survey out of 100 customers, 87 customers i.e, 87% of
customers agreed that advertisement play an important role in
decision making.
• customers i.e., 13% of customers have not agreed that
advertisement play an important role in decision making.
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CUSTOMER’S BRAND RATING
TABLE-09
PARTICULARS NO.OF RESPONDENTS PERCENTAGE
HERO HONDA 65 65%
TVS 9 9%
BAJAJ 16 16%
OTHER 10 10%
TOTAL 100 100%
CHART-09
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0
10
20
30
40
50
60
70
Herohonda Tvs Bajaj Others
INTERPRETATION:
• The above table shows the rating of brands by customers.
• In the survey out of 100 customers, 60 customers i.e, 60% of customers
have rated HERO HONDA as a no.1 brand
• customers i.e., 12% of customers have rated TVS as a No.4 brand.
• 16 customers i.e 18% of customers have rated BAJAJ as a No.2 brand
• 10 customers i.e 10% of customers have rated OTHER BRANDS as a
no.3 brand.
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VEHICLE SERVICE
TABLE -10
PARTICULARS NO.OFRESPONDENTS PERCENTAGE
Once In 6 Months 43 43%
Once in a Year 30 30%
Oncein18Months&Above 27 2%
TOTAL 100 100%
CHART-10
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0
5
10
15
20
2530
35
40
45
6months 1year 18months&ahove
INTERPRETATION:
• The above table shows the duration of the customer’s vehicle gets
repaired.
• In the survey out of 100 customers, 39 customers i.e, 39% of
customer get repaired their vehicles once in every 6 month
• customers i.e., 31% of customers get repaired their vehicles once
in a year.
• 30 customers i.e 30% of customers get repaired their vehicles once
in every 18 months and above.
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0
10
20
30
40
50
60
70
80
90
100
Yes No
INTERPRETATION:
• The above table shows customer satisfaction on availability of spare parts.
• In the survey out of 100 customers, 93 customers i.e, 93% of customer
have satisfied on availability of spare parts.
• customers i.e., 07% of customers have not satisfied on availability of
spare parts
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COST OF SPARE PARTS
TABLE – 12
PARTICULARS NO. OF
RESPONDENTS
PERCENTAGE
VERYCOSTLY 12 12%
COSTLY 23 23%
REASONABLE 61 61%
LOW 4 4%
TOTAL 100 100%
CHART-12
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0
10
20
30
40
50
60
70
Verycostly Costly Reasonable Low
INTERPRETATION:
• The above table shows the response of customer on cost of spare parts.
• In the survey out of 100 customers, 12 customers i.e, 12% of customers
felt that spare parts are very costly.
• customers i.e., 23% of customers felt that the cost of spare parts are
costly.
• 61 customers i.e 61% of customers felt that the cost of spare of parts is
reasonable.
• 04 customers i.e., 04% of customers felt that spare parts are low in cost.
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2. It has been found that 76% of the respondents have brought the vehicle
through cash and the rest 24% of the respondents have brought the
vehicle through finance..
3. It has been found that 30% of the respondents are giving preference to
style,38% for mileage ,20% for comfort,7% for pick up and 5% of them are
giving preference for style.
4. It has been found that 95% of the respondents are satisfied the cost of the
vehicle and rest 5% of the respondents are not satisfied with price.
5. It has been found that 78% of the respondents are satisfied with the
mileage of the vehicle and 22% of the respondents are not satisfied with
the mileage of the vehicle.
6. It has been found that 55% of the respondents are influenced by brand
name to buy the vehicle, 25% of customers are influenced through family
and friends to buy the vehicle 15% of customers are influenced through
advertisements to buy the vehicle. 05% of customers are influenced
through offers to buy the vehicle.
7. It has been found that 87% of the of customers agreed that advertisement
play an important role in decision making 13% of customers have not
agreed that advertisement play an important role in decision making.
8. It has been found that , 60% of customers have rated HERO HONDA as a
no.1 brand, 12% of customers have rated TVS as a No.4 brand, % of
customers have rated BAJAJ as a No.2 brand and 10% of customers
have rated OTHER BRANDS as a no.3 brand.
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• There is a heavy demand for hero Honda motor cycles in the
market, so there supply has drastically improved so as to
meet the demand of the customers.
• The price of some of the hero Honda motor cycles are high
which are considered to be not suitable for the Indian
economy, that are not affordable by the middle class people.
• The market. So the process have to be reduced and the
stocks of such spare parts have to be maintained.
• The promotional activities are concern, there is a very less
advertising for the hero Honda motor cycles, so the
advertising has to be done repeatedly so that the brand
loyalty could be maintained and new customers are attracted
so that the market share could be increased.
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• The after sale services has to be improved and make
availability of servicing centers even in rural areas so as to
fact the competition existing in the motor cycle segments.
Chapter-7
SUGGESTIONS AND RECOMMENDATIONS
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On the basis of the theoretical information and data gathered by
administrating schedules to customers which is analyzed, with the
following observations are made:
• Hero Honda motor cycles rank s the first in the choice of
performance compared to other motor cycle Brands.
• Consumers prefer Hero Honda motor cycles because they
are considered to be more economical in terms of mileage,
design and quality and less pollution to the environment.
• The customers though the various advertisements given in
televisions know most of the information about the features
of the motor cycles.
• The best media for advertisement is electronic media.
EX: Television..
• Through the survey it has been found that the model design
and attractiveness of the brands should be are comfortable
to the Indian roads.
• Most of the customers are satisfied with the supply of the
motor cycle.
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• Most of the customers are not satisfied with the existing after
sales service provided by the company.
Questionnaire
Name: ________________________________ Age ______________________
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Address: _________________________________________________________
________________________________________________________________
_
Phone No: ______________________ Occupation: _______________________
Email: _____________________________________
1. Which two wheeler you own?
_____________________________________________________________
________
02. Mode of Purchase
a) Cash [ ] b) Finance [ ]
03. Rate the following you like in your vehicle?
1 2 3 4 5
Style
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Mileage
Comfort
Pick-up
Price
04. Are you satisfied with the cost of vehicle?
a] Yes [ ] b] No [ ]
05. Are you satisfied with mileage of the vehicle?
a] Yes [ ] b) No [ ]
06. Are you satisfied with the service centre?
a] Yes [ ] b] No [ ]
07. What influenced you to purchase the vehicle?
a] Brand [ ] b) Family & Friends [ ]
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c] Advertisement [ ] d] Offers [ ]
08. Did advertising play any role in decision making?
a] Yes [ ] b] No [ ]
09. How do you rate the following brands?
1 2 3 4 5 6 7
Bajaj
Yamaha
Hero Honda
TVS
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LML
HONDA
OTHER
10. How often your vehicle get repaired?
a] Once in 6 months [ ] b] Once in a year [ ]
c] Once in 18 months [ ]
11. Are you satisfied with the availability of spare parts?
c] Yes [ ] b) No [ ]
12. Comment on the cost of spare parts?
a] Yes [ ] b) No [ ]\
13. Since, how long you are using two wheeler?
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BIBILOGRAPHY
BOOKS AUTHORS
1. MARKETING MANAGEMENT : PHILIP KOTLER
2. MARKETING RESEARCH : G.C. BERRI
D.D.SHARMA
3. CONSUMER Behaviour : LOUDON & DELLA
BITTA
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