Assignments for Marketing Management

Assignment No.3 Carry out a market survey using a suitable questionnaire for estimating the demand, for the year 2011-12 for the product handled in earlier assignments.

Questionnaire A questionnaire is a research instrument consisting of a series of questions and other prompts for the purpose of gathering information from respondents. Although they are often designed for statistical analysis of the responses, this is not always the case. The questionnaire was invented by Sir Francis Galton Questionnaires have advantages over some other types of surveys in that they are cheap, do not require as much effort from the questioner as verbal or telephone surveys, and often have standardized answers that make it simple to compile data. However, such standardized answers may frustrate users. Questionnaires are also sharply limited by the fact that respondents must be able to read the questions and respond to them. Thus, for some demographic groups conducting a survey by questionnaire may not be practical. As a type of survey, questionnaires also have many of the same problems relating to question construction and wording that exist in other types of opinion polls.

Some disadvantages of questionnaires:

Questionnaires, like many evaluation methods occur after the event, so participants may forget important issues.

Questionnaires are standardised so it is not possible to explain any points in the questions that participants might misinterpret. This could be partially solved by piloting the questions on a small group of students or at least friends and colleagues. It is advisable to do this anyway.

Open-ended questions can generate large amounts of data that can take a long time to process and analyse. One way of limiting this would be to limit the space available to students so their responses are concise or to sample the students and survey only a portion of them.

Respondents may answer superficially especially if the questionnaire takes a long time to complete. The common mistake of asking too many questions should be avoided.

Students may not be willing to answer the questions. They might not wish to reveal the information or they might think that they will not benefit from responding perhaps even be penalised by giving their real opinion. Students should be told why the information is being collected and how the results will be beneficial. They should be asked to reply honestly and told that if their response is negative this is just as useful as a more positive opinion. If possible the questionnaire should be anonymous.

Some advantages of questionnaires:

The responses are gathered in a standardised way, so questionnaires are more objective, certainly more so than interviews.

Generally it is relatively quick to collect information using a questionnaire. However in some situations they can take a long time not only to design but also to apply and analyse (see disadvantages for more information).

Potentially information can be collected from a large portion of a group. This potential is not often realised, as returns from questionnaires are usually low. However return rates can be dramatically improved if the questionnaire is delivered and responded to in class time.

Subject A comparative study to find out the demand of 2-wheelers in the market Objective of the study The main objective here is the study of demand based on the following factors . 1. To analyze the customer satisfaction. 2. To analyze the customer preference. 3. To know which manufacturer is providing better services. 4. To analyze after sales services of bikes. 5. To study the behavioral factors of consumers in motor bikes.

6. To suggest various factors to improve sales. History of Bajaj Auto Bajaj Auto limited is one of the largest two wheeler manufacturing company in India apart from producing two wheelers they also manufacture three wheelers. The company had started way back in 1945. Initially it used to import the two wheelers from outside, but from 1959 it started manufacturing of two wheelers in the country. By the year 1970 Bajaj Auto had rolled out their 100,000th vehicle. Bajaj scooters and motor cycles have become an integral part of the Indian milieu and over the years have come to represent the aspirations of modern India. Bajaj Auto also has a technical tie up with Kawasaki heavy industries of Japan to produce the latest motorcycles in India which are of world class quality The Bajaj Kawasaki eliminator has emerged straight out of the drawing board of Kawasaki heavy industries. The core brand values of Bajaj Auto limited includes Learning, Innovation, Perfection, Speed and Transparency. Bajaj Auto has three manufacturing units in the country at Akurdi, Waluj and Chakan in Maharashtra, western India, which produced 2,314,787 vehicles in 2005-06. The sales are backed by a network of after sales service and maintenance work shops all over the country. Bajaj Auto has products which cater to every segment of the Indian two wheeler market Bajaj CT 100 Dlx offers a great value for money at the entry level. Similarly Bajaj Discover 125 offers the consumer a great performance without making a big hole in the pocket. History of hero Honda India has the largest number of two wheelers in the world with 41.6 million vehicles. India has a mix of 30 percent automobiles and 70 percent two wheelers in the country. India was the second largest two wheeler manufacturer in the world starting in the 1950s with the birth of Automobile Products of India (API) that manufactured scooters. API manufactured the Lambrettas but, another company, Bajaj Auto Ltd. surpassed API and remained through the turn of the century from its association with Piaggio of Italy (manufacturer of Vespa). The license raj that existed between the1940s to1980s in India, did not allow foreign companies to enter the market and imports were tightly controlled. This regulatory maze, before the economic liberalization, made business easier for local players to have a sellers market. Customers in India were forced to wait 12 years to buy a scooter from Bajaj. The CEO of Bajaj commented that he did not need a marketing

department, only a dispatch department. By the year 1990, Bajaj had a waiting list that was twenty-six times its annual output for scooters. The motorcycle segment had the same long wait times with three manufacturers; Royal Enfield, Ideal Jawa, and Escorts. Royal Enfield made a 350cc Bullet with the only four-stroke engine at that time and took the higher end of the market but, there was little competition for their customers. Ideal Jawa and Escorts took the middle and lower end of the market respectively.In the mid-1980s, the Indian government regulations changed and permitted foreign companies to enter the Indian market through minority joint ventures. The two-wheeler market changed with four Indo-Japanese joint ventures: Hero Honda, TVS Suzuki, Bajaj Kawasaki and Kinetic Honda. The entry of these foreign companies changed the Indian market dynamics from the supply side to the demand side. With a larger selection of two-wheelers on the Indian market, consumers started to gain influence over the products they bought and raised higher customer expectations. The industry produced more models, styling options, prices, and different fuel efficiencies. The foreign companies new technologies helped make the products more reliable and with better quality. Indian companies had to change to keep up with their global counterparts. History of TVS The TVS group was established in 1911 by Shri. T. V. Sundaram Iyengar. As one of Indias largest industrial entities it epitomizes Trust, Value and Service. It all began way back in 1984 when Sundaram Clayton Limited (A TVS Group company) introduced its 50 CC mopeds in the arena of road racing, notching up unbelievable speeds of 105 kmph. Since then, there has been no looking back for TVS Motor Company. TVS Racing was established in 1987 with the objective of improving the performance of its bikes. Over the years it has provided valuable data, design inputs, development of reliable motorcycle models, excellent vehicle dynamics & handling etc. The true evidence of it is seen in today's TVS Victor and TVS Fiero. Today, there are over thirty companies in the TVS Group, employing more than 40,000 people worldwide and with a turnover in excess of USD 2.2 billion. With steady growth, expansion and diversification, TVS commands a strong presence in manufacturing of two-wheelers, auto components and computer peripherals. We also have vibrant businesses in the distribution of heavy commercial vehicles passenger cars, finance and insurance. TVS Motor Company Limited, the flagship company of the USD 2.2 billion TVS Group, is the third largest two-wheeler manufacturer in India and among the top ten in the world, with an annual turnover of over USD 650 million.

The year 1980 is one to be remembered for the Indian two-wheeler industry, with the roll out of TVS 50, India's first two-seater moped that ushered in an era of affordable personal transportation. For the Indian Automobile sector, it was a breakthrough to be etched in history. TVS Motor Company is the first twowheeler manufacturer in the world to be honoured with the hallmark of Japanese Quality The Deming Prize for Total Quality Management. RESEARCH METHODOLOGY It is well known fact that the most important step in marketing research process is to define the problem. Choose for investigation because a problem well defined is half solved. That was the reason that at most care was taken while defining various parameters of the problem. After giving through brain storming session, objectives were selected and the set on the base of these objectives. A questionnaire was designed major emphasis of which was gathering new ideas or insight so as to determine and bind out solution to the problems. DATA SOURCE Research included gathering both Primary and Secondary data. Primary data is the first hand data, which are selected a fresh and thus happen to be original in character. Primary Data was crucial to know various customers and past consumer views about bikes and to calculate the market share of this brand in regards to other brands. Secondary data are those which has been collected by some one else and which already have been passed through statistical process. Secondary data has been taken from internet, newspaper, magazines and companies web sites. RESEARCH APPROACH The research approach was used survey method which is a widely used method for data collection and best suited for descriptive type of research survey includes research instrument like questionnaire which can be structured and unstructured. Target population is well identified and various methods like personal interviews and telephone interviews are employed.

SAMPLING UNIT It gives the target population that will be sampled. This research was carried my own resendial building shivanand apt.plot-66, kothrud ,pune with a sample of 45 people all who own a bike. LIMITATIONs 1. Shortage of time is also reason for incomprehensiveness. 2. The views of the people are biased therefore it doesnt reflect true picture

MODEL QUESTIONNAIRE NAME: - CONTACT NO . AGE:Employee 15-20 20-25 25-30 Above 30 OCCUPATION:- Businessman

Student Other Q1) Which Bike do you have? Hero Honda Q2) Which Model do you have? Hero Honda: - Splendor Bajaj: - CT 100 Discover Pulsa Bajaj TVS

Passion

Karizma

Other

r Other

TVS:- Flame Apache

Star city

Other

Q3) In which Family Income do you Fall? 100000-200000 200000-300000 300000-400000 Above 400000

Q4) For how long do you own a Bike? 0-1 year 1-2 year 2-3 year above 3 years

Q5) For what purpose do you use your Motor Bike?

Office Purpose

Personal Purpose Joy Purpose

Other

Q6) How do you come to know about this Motor Bike?

Newspaper

Television

Magazines

Friends/Relatives

Q7) Are you satisfied with the performance of the bike that you are currently having? Yes No Cant say

Q8) Does Advertisement Influence your decision in choosing a Motor Bike? Yes No Cant say

Q9) Do you have full knowledge about Bikes before buying? Yes No Cant say

Q10). Which factor below influence your decision? Price Resale Value Mileage Quality

Status Symbol

Q11) How would you rate the following factors of bikes with respect to different companies? Hero Honda Maintenance Bajaj Look/Shape TVS Mileage Brand Image Price Pick up

Q12) If new bike with good feature comes in, then would you like to change your bikes? Yes No Cant say

Q13) Any Suggestions for Company Date: (Signature Interpretation and analysis

1) INTERPRETATION: - Out of the sample size of 45 customers,20 customers are of Hero Honda, 10 are of Bajaj and 5 customers of TVS bikes are taken into consideration. 2) INTERPRETATION: - In Hero Honda mostly the customers are having splendor while the ratio of the customers using Passion, Karizma and other bikes are comparatively low. 3) INTERPRETATION: - The maximum numbers of customers that are using these bikes fall in the income group of 200000-300000. While this ratio is minimum in case of customers whose income level fall between 300000-400000. 4) INTERPRETATION: - It is observed that mostly the customers are having new bikes

5) INTERPRETATION:- The customers are using their bikes mostly for official and personal purpose 6) INTERPRETATION:- The customers are using their bikes mostly for official and personal purpose. 7) INTERPRETATION: - Out of the sample size of 45 customers 25 customers agrees with the fact that advertisements play a very significant role in influencing their behavior to choose the bike. On the

other hand 15 customers do not agree to this fact. While remaining 5 customers are not sure about it. 8) INTERPRETATION:- Out of the sample size of 45 customers, 15 customers says that they are satisfied with the performance of their bikes. On the other hand 18 customers are not satisfied with the performance of the bikes that they are having. While the remaining 12 customers are unable to say anything. 9) INTERPRETATION:- It is observed that most of the customers are having full knowledge of the bike before purchasing. 10) INTERPRETATION:- In Hero Honda bikes the mileage of the bike and the value that it adds to the status symbol of the customers influences the decision criteria of most of the customers 11) INTERPRETATION:- In Bajaj bikes customers gets more influenced by the price and quality of the bike and also they think that it adds value to their prestige. 12) INTERPRETATION: - It is observed that in rating of different features of different bikes people give maximum rating to the look and shape of the bike. At the second level they give their rating to the pick up. At the third level they rate mileage. And at the fourth level they give points to maintenance. At last they rate price and brand image. 13) INTERPRETATION:- It is observed that the customers of Hero Honda bikes are not ready to change their bikes even if a new bike comes in with good features. While majority of the customers of Bajaj and TVS are ready to change their bikes if new bike provides some good features to them.

Findings 1. Most of the Flame, Apache, Pulsar, CBZ & Karizma are purchased by young generation 18 to 30 years because they prefer stylish looks and rest of the models of Hero Honda, TVS and Bajaj are purchased more by daily users who needs more average of bikes than looks. 2. the youth is more prone to bike changing/switching rather than using the same.

3. Service & Spare parts are available throughout India in local markets also. 4 . While buying a motorcycle, economy is the main consideration in form of maintenance cost, fuel efficiency, in case of Bajaj and TVS the bikes get sold every 4th year. 5. Majority of the respondent had bought their motorcycle more than 3 years and can hardly hold it for not than 2 years.

Conclusion-