A MARKET SURVEY REPORT ON “A STUDY OF CUSTOMER SATISFACTION OF HYUNDAI” Submitted To: COLLEGE OF MANAGEMENT AND COMPUTER APPLICATION, MORADABAD In Partial Fulfillment of the Requirement of the Degree of Bachelor of Business Administration (BBA) SESSION: 2009-2012 Department of Management TEERTHANKER MAHAVEER UNIVERSITY DELHI ROAD, MORADABAD Project Guide: Submitted By: Mr. Rajkumar Singh Anand Kumar Saini B.B.A. V Semester Roll No. R0912011036 CERTIFICATE This is to certify that Mr.Anand kumar saini is pursuing three year full time Bachelor of Business Administration (BBA) Course from Teerthanker Mahaveer University, Moradabad as regular student, in session (2009-2012). In compliance with the provision/guidelines of Teerthanker Mahaveer University, Moradabad, He has been assigned a market survey project. The project work has been genuinely carried out by the student for the duration specified by the university. He has made sincere efforts in the completion of the project work. Project Guide MR. Rajkumar Singh STUDENT DECLARATION I Anand Kumar Saini hereby declare that the research work presented in this project report entitled” for the fulfillment of the award of Bachelor of Business Administration from Teerthanker Mahaveer Universit“A STUDY OF CUSTOMER SATISFACTION OF HYUNDAI”for the fullfilment of the award of Bachelor of Business Administartion from Teerthanker Mahaveer university; Moradabad. The project embodies the result of original work and studies carried out by me and the contents of the project do not form the basis for the award of other degree to me or to anybody else. Anand Kumar Saini BBA 5th Sem Enrolment No. T09120713 ACKNOWLEDGEMENT It gives me immense pleasure and privilege to acknowledge my deepest sense of gratitude towards all those who helped me in the successful execution of this project. I would like to thanks Chancellor Sir, Shri Suresh Jain, Group Vice Chairman Mr. Manish Jain, and Additional director Prof.(Dr.) Mr.Vipin Jain . I also extend my gratitude towards the Dr. M.P. Singh (HOD,Management dept.) and my course co-ordinator Mr. Abhinav Srivastava & Mr. Avinash Raj Kumar who entrusted me for the completion of this project. I am highly indebted to my project guide, Mr. Raj Kumar Singh whose constructive counselling and able guidance helped me immensely in bringing out this project in the present form. And lastly the entire faculty member and the entire Lab staff for providing me this opportunity and expose me to industrial culture. The acknowledgement would be incomplete without thanking my family and friend who were a big support throughout. ANAND KUMAR SAINI BBA 5th SEM R0912011036 PREFACE Theoretical knowledge without practical knowledge is of little value. In order to achieve positive & concrete results along with theoretical concept the exposure of real life situation existing in corporate is very much needed. To fulfill this need the management course has a provision for the practical market survey. I thank my institute to provide us such opportunity having market survey in our course so that students can have real feeling of a researcher. In the coming pages an attempt has been made to present a comprehensive market survey report is concerning different aspects. Customer satisfaction is an abstract concept and the actual manifestation of the state of satisfaction will vary from person to person and product/service to product/service. The state of satisfaction depends on a number of both psychological and physical variables which correlate with satisfaction behaviors such as return and recommend rate. The level of satisfaction can also vary depending on other factors the customer, such as other products against which the customer can compare the organization's products. The primary data have been collected with the help of questionnaire consisting of 14 questions. The sample size selected is 100. The collected data have been analyzed and shown in the form of pie chart and pie charts are interpreted into simple language & further concluded. EXECUTIVE SUMMARY This project is based on the survey, which was done in the Moradabad city. The main objective of the survey to know customer satisfaction of HYUNDAI. We have taken almost aspects & suggestions of customers, which are related to customer satisfaction. The market survey report will help that entire person who want to purchase a car of HYUNDAI Motors. The data have been collected by the help of questionnaire, which is given in the report. The collected data have been analyzed and shown in the form of graph. CONTENTS 1. Introduction 2. Industry Profile 3. Company Profile 4. Scope of the study 5. Objectives of the study 6. Assumption 7. Research Methodology 8. Data Analysis 9. Findings 10. Suggestions 11. Limitations 12. Conclusion Bibliography Annexure INTRODUCTION The automobile industry today is one of the most lucrative industries. Due to the increase in disposable income in both rural and urban sector and easy finance being provided by all the financial institutes, the passenger car sales have increased at the rate of 45% per annum in 2010-2011 over the corresponding period in the previous year. Further competition is heating up in the sector with a host of new players coming in and other like Porsche, Bentley, Audi, Mercedes, and BMW all set to venture in the Indian markets. One factor that could help the companies in the marketing of their product is by knowing and creating a personality for their brands. Automotive industry in India Since the first car rolled out on the streets of Mumbai (then Bombay) in 1898, the Automobile Industry of India has come a long way. With HM establishing the first automobile factory way back in 1948, the Indian passenger vehicle industry was for long dominated by Ambassadors and the Premier Padmini’s. Then in the year 1985, following the liberalization and various tax reliefs, the Government of India in collaboration with Suzuki motor corporation of Japan formed Maruti Suzuki ; a powerful alliance which changed the face of the Indian roads. The only car with the latest technology then was the Maruti 800. It became very popular because of the low price, high fuel efficiency and good reliability. Since then the market has grown with over 20 manufacturers and hundreds of models and variants. The Indian automobile industry has matured over the years and is now highly comptetitive with major Japanese, Korean, American, European and Indian companies all holding significant market shares. Indian auto industry has become a hot destination for global auto players like Volvo, General Motors, Daimler-Chrysler, Volkswagen, Toyota and Ford. Global players have either entered or are eyeing India as a strategic target for future development A well developed transportation system plays a key role in the development of an economy, and India is no exception to it. With the growth of transportation system the Automotive Industry of India is also growing at rapid speed, occupying an important place on the 'canvas' of Indian economy. Today Indian automotive industry is fully capable of producing various kinds of vehicles and can be divided into 3 broad categories: Two-wheelers, Four-wheelers (Cars) and Heavy vehicles. Growth Drivers for auto industry in India Segments of the Indian Auto market The market for any product is normally made up of several segments. A ‘market’ after all is the aggregate of consumers of a given product. And, consumer (the end user), who makes a market, are of varying characteristics and buying behaviour. There are different factors contributing for varying mind set of consumers. It is thus natural that many differing segments occur within a market. In order to capture this heterogeneous market for any product, marketers usually divide or disintegrate the market into a number of sub- markets/segments. This report attempts to analyze and understands how Indian carmaker have successfully segmented the market and how they are leveraging these segmentation to introduce new product and grow their market share. With proper segmentation carmakers could look at the differences among the customer groups and decide on appropriate strategies/offers for each group. These strategies then helped them in dividing the markets for conquering them. Every buyer has individual needs, preferences, resources and behaviours. Since it is virtually impossible to cater for every customer’s individual characteristics, carmakers grouped customers to market segments by variables they have in common. These common characteristics allowed developing a standardized marketing mix for all customers in that segment. This segmentation helped the carmaker to increase their profit by tapping the market through adapting the offer to that segment. They brought the necessary changes in the product to suit to the particular segment. We would analyze how consumer market is segmented and on what basis automaker segment the market. Consumer market segmentation 1. Geographic Segmentation. 2. Demographic Segmentation. 3. Psychographic Segmentation. 4. Behaviouristic Segmentation. 1) Geographic Segmentation Potential customers are in a local, state, regional or national marketplace segment. Geographic location is a major factor in segmenting target markets for automakers since their customer needs are varied for different region. The customers can be segmented based on: a. Region b. Size c. Population density d. Climate 2) Demographic Segmentation In this type of segmentation, the customers are segmented based on the following factors. a. Age (dominant factor) b. Income & Purchasing power (dominant factor) • Budget car segment • Compact car segment • Family car segment • Premium car segment • Super luxury saloon segment c. Occupation. d. Gender (dominant factor). e. Family Size. f. Family life cycle. g. Nationality. h. Religion. i. Education. 3) Psychographic Segmentation Psychographic Segmentation groups customers according to their life-style and buying psychology. Many businesses offer products based on the attitudes, beliefs and emotions of their target market. The desire for status, enhanced appearance and more money are examples of psychographic variables. They are the factors that influence your customers' purchasing decision.