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T/11s is to cert((y that Mr. Har11wndeep Singh Saini student of MBA (/Warketin1:) from Acharya Institute of Technology, B""Kalore has succe.,·.~fully completed his Industrial TraininR ji·om Jan-2018 to Apr-20 I H in Our Company.
JI ·e wish him all the best in his future ende(lvors.
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, '9 ~··.l 1'--tl liMll'A h I fJ. t 01}1( t l'W[' I N! I 1~\hl[fl~\ l\ l~ I.., • JJ •-.,• J_ )• IAllGEST ,1 2 lMOt IN Ovl ~ .. µ ' 11 AJ rlJl( f ~, .. ,, .. ,.,.._ ,,, 6Lh~lt 100 COUNIRII S 1 ll\h1MI ~, .' '""' ACHARYA INSTITUTE OF TECH NOLOGY (Af1iliated to Visvesvaraya Te chnological University, Bela{) Date: 25/05/2018 CERTIFICATE This is to certify that Mr. Harmandccp Singh Saini bearing USN 1AZ16MBA85 is a bonafide student of Master of Business Administration course of the Institute 2016-18 batch, affiliated to Visvesvaraya Technological University, Belagavi. Project report on "A Study on Customer Satisfaction Towards Sonalika Tractors, Hoshiarpur" is prepared by him under the guidance of Prof. Rakcsh Nagaraj in partial fulfillment of the requirements for the award of the degree of Master of Business Administration, Visvesvaraya Technological University, Belagavi, Karnataka. :,;;;----- < ' ~r~ Signature of Internal Guide H~kgJ1~\l\We°6~ment @epar-tment of MBA Acharya lnstitute of Teohno\om. . " • • >~~jhHi, Qa,,,galore-560 10 ' ~~- -.:- Signature of Principal ACHARY/\ !~,:~:-:: · '. <· J.' ;·EL,rn'1uLOGY ~oldeva110,,& , ·:.i ~.,1:,:·, urn- 560 107 ·/\r.hary:i Dr S;irvepall, R:idhak r1 shn;m Road, Solaclevanahall1 /\charya PO . 8,ingalore 560 107 Karnataka Ind J • VI\'. v ach,irya JC 111 /a t/ • Ph , I IIARMANDEEP SIN<;II SAINI, herd,y ded ,ire that the internship report t:ntitlcd " J\ STllDY ON CUSTOMER SATISFACTION TOWARDS SONALIKA TRACTORS'' ,.,,ith the reference to INTERNATIONAL TRACTORS LIMITED, HOSIIIARPUR prepared by me under the guiJance of Prof. RAKESH NAGARA.l. Faculty of MB/\ Department. /\charya Institute of Technology and External guidance by Mr. NA VDEEP SI NG 1-1 . Assistant Manager in Logistic Department, ITL. I al so declared that thi s internship work is the partial fulfilment of the university regulation for the award of degree of Master of 13usine ·s Administration by Visvcsaraya Technological Uni versity. Belgaum . I ha ve undergone a summer project internship for a period of ten we<.:k s. I further declare th at this project is based on the original study undertaken by me and has not been suhrnined for the award or an y degree diploma from any other uni ve rsity/ institut ion . ~ PLACE: - BANGALORE SIGNATllRE DATE: - O-t/OS/2018 IIARMAI\IHT.P SINCII S.-\li\l ACKNOWLEDGEMENT The1successful1accomplishment1of1any1task1is1incomplete1without1acknowledging1the contributing1personalities1 who1assisted, 1inspired1and1lead us1to visualize the1things that turn them1into successful1stories for1our success. I sincerely express my thanks and gratefulness Dr. S.S. Pillai, 1Principal of1Acharya1Institute of1Technology, Bangalore, and1Prof. Nijaguna,1Head of1MBA1Department, Acharya Institute of Technology, Bangalore, for1their support for successful completion of the project. I acknowledge the keen interest1shown in my internship and constant1encouragement given by my Internal guide Prof. Rakesh Nagaraj, Faculty1of MBA Department, Acharya1Institute of Technology, 1Bangalore. I also express1my gratitude to1my external1guide, Mr. NAVDEEP SINGH, Assistant Manager, Logistic1Department, International1Tractor1Limited, Hoshiarpur, Punjab1for giving the opportunity1to undertake1the project1work and1sharing valuable1knowledge during1internship period. I1am1also very1thankful to the employees of1ITL1who1directly or1indirectly1helped me during1internship1period. I1would1also like to1thank1all the1faculty members of1MBA Department, Acharya1Institute of Technology, Bangalore, for1their critical advice1and guidance without1which this project would not have been1completed. Last1but not1least I would1whole heartedly thank1my family members and1friends for their valuable1suggestions and motivation1for completing this project successfully. HARMANDEEP SINGH SAINI 1AZ16MBA85 TABLE OF CONTENT S. No CONTENT Page No. EXECUTIVE SUMMARY Chapter -1 INTRODUCTION 1.1 Internship Introduction 1 1.2 Industry profile 2 1.3 Company profile 7 1.4 Promoters 12 1.5 Vision, mission & quality policy 12 1.6 Product/ services profile areas of operation 13 1.7 Area of Operations 14 1.8 Infrastructure facilities 15 1.9 Competitor information 17 1.10 Swot analysis 18 1.11 Future growth and prospects 20 1.12 Financial statement 21 Chapter-2 CONCEPTUAL BACKGROUND AND LITERATURE REVIEW 2.1 Theoretical background of the study 23 2.2 Literature review 24 Chapter-3 RESEARCH DESIGN 3.1 Statement of the problem 28 3.2 Need for the study 28 3.3 Objectives 28 3.4 Scope of the study 28 3.5 Research Methodology 29 3.6 Hypothesis 32 3.7 Limitations 33 3.8 Chapter scheme 33 Chapter -4 DATA ANALYSIS AND INTERPRETATION 34-69 Data Data analysis Graphical representation Interpretation of Data Statistical Test 69 chapter -5 FINDINGS, CONCLUSION AND INTERPRETATION 5.1 Findings 70 5.2 Conclusion 71 5.3 Suggestions 72 Bibliography 73 Annexure 75 LIST OF TABLES TABLE PARTICULAR PAGE NO. NO. 4.1 Table1showing qualification of respondents. 35 4.2 Table1showing occupation of respondents. 36 4.3 Table1showing whether it’s first tractors of respondents or not. 37 4.4 Table1showing which tractor they are using. 38 4.5 Table1showing purpose of purchasing tractor. 39 4.6 Table1showing annual Income of respondents 40 4.7 Table1showing price range do respondents prefer 41 4.8 Table1showing horsepower preference by customers 42 4.9 Table1showing if sonlika tractor is superior or not. 43 4.10 Table1showing satisfaction level based on Pricing. 44 4.11 Table1showing whether Sonalika has good brand image 45 4.12 Table1showing awareness of Sonalika dealers in market 46 4.13 Table1showing customers awareness towards dealers 47 4.14 Table1showing behaviour and response of firm's staff 48 4.15 Table1showing satisfaction based on service provided by dealers 49 4.16 Table1showing mode of purchase 50 4.17 Table1showing sources of credit purchase of tractors 51 4.18 Table1showing satisfaction towards financial institutes 52 4.19 Table1showing brand aware among customers 53 4.20 Table1showing brand prefer among customers 54 4.21 Table1showing differentiation factors of Sonalika tractors 55 4.22 Table1showing promotional methods 56 4.23 Table1showing influencing factor before purchase of tractor 57 Table1showing major consideration during purchase of Sonalika 58 4.24 tractors 4.25 Table1showing availability of after sale service in market 59 4.26 Table1showing rating on after sale service 60 4.27 Table1showing does Sonalika dealers provide proper assistance 61 during breakdown 4.28 Table1showing company’s response on customer's complaints 62 4.29 Table1showing availability of spare parts in your market 63 4.30 Table1showing which tractor would respondent buy other than 64 Sonalika 4.31 Table1showing rating on1resale1value1of1Sonalika tractors 65 4.32 Table1showing rating on performance of1Sonalika tractors 66 4.33 Table1showing rating on feature1of Sonalika tractors 67 4.34 Table1showing improvement1for upcoming models 68 LIST OF FIGURES AND CHARTS GRAPH PARTICULAR PAGE NO. NO. 4.1 Graph1showing qualification of respondents. 35 4.2 Graph1showing occupation of respondents. 36 4.3 Graph1showing whether it’s first tractors of respondents or not. 37 4.4 Graph1showing which tractor they are using. 38 4.5 Graph1showing purpose of purchasing tractor. 39 4.6 Graph1showing annual Income of respondents 40 4.7 Graph1showing price range do respondents prefer 41 4.8 Graph1showing horsepower preference by customers 42 4.9 Graph1showing if sonlika tractor is superior or not. 43 4.10 Graph1showing satisfaction level based on Pricing. 44 4.11 Graph1showing whether Sonalika has good brand image 45 4.12 Graph1showing awareness of Sonalika dealers in market 46 4.13 Graph1showing customers awareness towards dealers 47 4.14 Graph1showing behaviour and response of firm's staff 48 4.15 Graph1showing satisfaction based on service provided by dealers 49 4.16 Graph1showing mode of purchase 50 4.17 Graph1showing sources of credit purchase of tractors 51 4.18 Graph1showing satisfaction towards financial institutes 52 4.19 Graph1showing brand aware among customers 53 4.20 Graph1showing brand prefer among customers 54 4.21 Graph1showing differentiation factors of Sonalika tractors 55 4.22 Graph1showing promotional methods 56 4.23 Graph1showing influencing factor before purchase of tractor 57 4.24 Graph1showing major consideration during purchase of Sonalika 58 tractors 4.25 Graph1showing availability of after sale service in market 59 4.26 Graph1showing rating on after sale service 60 Graph1showing does Sonalika dealers provide proper assistance 61 4.27 during breakdown 4.28 Graph1showing company’s response on customer's complaints 62 4.29 Graph1showing availability of spare parts in your market 63 4.30 Graph1showing which tractor would respondent buy other than 64 Sonalika 4.31 Graph1showing rating on resale value of Sonalika tractors 65 4.32 Graph1showing rating on performance of Sonalika tractors 66 4.33 Graph1showing rating on feature of Sonalika tractors 67 4.34 Graph1showing improvement for upcoming models 68 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. CHAPTER-1 INTRODUCTION Dept. of Management, AIT. Page 1 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 1.1 Internship Introduction This internship program is1to grant the students1with real time working1experience and to prepare1them to participate1in the field1work1opportunity, to explore1and to link between academic1preparation and field1work for the1students, and to help1participants in the development1and1implementation of the major1research project, which1will serve to1culminate in the practical1experience. Individual training is customized to the requirements and1benefit of1each student1in the program. As1component of1the training experience, students1should play1an active1role in finding1suitable training1for them. Internship1provides a different1opportunity for1students during training1programs to expand1familiarity in choosing1their field, to discover out what they have in1importance in a strict1line of1business, and1to1develop professional1network links, develop the1Personal skills or1get some credit1points. Internship at1International Tractor Private1Limited is focused on1analyzing and1understanding the1stage of consumer1knowledge in relation to company products and the1study1focuses on industry analysisand1the1requirements of the organization and1understanding the current market situation and anticipate1the customer to1raise the intensity of1awareness of the company to enhance sales and get1the utmost1advantage. The current1business circumstances are1characterized by a large1amount of competition. Customers1in the current1days are willing to change1brandseek for the best1value services. To attract and retain1the organization's1customers needed1to focus on providing what the needs and values of customers. Any1business does not specify1the customer1because the consumer is the king. The1goal of1each entity is to1increase consumer1awareness and consumer1fulfillment to the1optimum as it is necessary1for long-term growth1to be profitable. Each organization strives to reach the1highest level of1customer1knowledge. You1cannot predict customer1behavior. This dynamic1client needs the reason for the emergence of a separate study area1recently. The learning was1concededfor the "customer1awareness". Dept. of Management, AIT. Page 2 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. I.2 Industry1&1Company1Profile Industry1profile India is anone of agricultural based1country. There are 58% of Indian total1population is depend1on agriculture as1their major means of1livelihood. It is an1major source of income. Today, India1ranked 2nd1worldwide in1agricultural output1after1China. Agriculture1accounts approximately 12% of India’s1GDP. About142% of the1geographical land is used for1agriculture in our country. Tractors are1personalized for different1function in different1areas of India both for agriculture and non-agriculture1activities. India is one of the1largest manufacturers1of tractor1all over the world1with 50% of world’s1output in 2016. In India1tractor industry plays a1crucial role. Advancement1in tractor industry helps in1leading to green revolution. In1India tractor manufacturing1business1has always1been a measurementfor1the state of rural1market in India. Farmers has1been eased by the various1application of tractor for the1advanced agricultural activities which1sweep India1during last 20 years. Tractors are1the one of integral1part of farming which1play a significant1role in agriculture productivity1and cost1cutting. The two major1contributions in the farming1sector are higher productivity and higher1efficiency. Tractors are investment1intensive; labor display1used as mode of1transport, electrical1generation, construction and haulage1operations. It’s a versatile piece of1machinery having1a magnitude of1uses, used in agriculture1both for land renovation and for hauling1various crop1cultivation and working for1carrying out various1operation1related with raising1crops by attaching appropriate1instruments and to make available1essential1energy1for performing a range of1crop production1operations implicated, in the production of1agricultural crops. Tractor industry1in India involves 13 national1players and1few1regional players. This industry is extremely1dominated by1M&M Group with1their1tractors with1two different1brand names Swaraj and1Mahindra, market1share of1M&M group is 42%, which is1follow by TAFE with market hold1of 25% of the1marketplace. Outstanding1market share1is engaged by the other players which include1Escort1 (11%), L&T-John1Deere (6%), New1Holland (5%) and International Tractor1Ltd. (11%). Dept. of Management, AIT. Page 3 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Most of tractors of1various different brands1sold in 34-50 HP1range. The long1term prospect of Indian tractors1industry is1extremely dependent1on the Government1policy for1the farming1segment. ever since1the establishment of1tractor industries in1India the 1of the tractor salearedone on1credit even as over the1last few years’1financial institution,1facing increase in NPA has some1tightening on1credit norms. In 2009-10 there1has been quick1raise in cash buy of tractors in the1marketplace1which1reflect the rise1in throw1away income in the 1rural market. Most of1the tractor1finance is done by the1banks which come1under the priority1sector lending. Prospect of1domestic tractor1business is highly1connected with the1monsoon, which is1an key feature in1determining the agricultural1production. Properly1irrigated lands similar1to Punjab & Haryana have higher tractor density (100/1000 :tractors/hectares). Whereas1states like1Himachal,1Rajasthan, Gujarati, Tamil1Nadu,1MP,1have1lower level of tractor penetration. On over all1basis India’s1tractor saturation1remains low at1around 13/1000 tractors/hectares. Beside1agriculture tractors are1being use in various1activities1like drawing water,harvesting,1irrigation, land1renovation1etc. Thus tractor1market is1expected to grow in future1and remains one of the1largest tractor1marketplaces in the world. HISTORY 1945-19601 (Introduction1Phase) In Indian1tractor1industry was developed1in the year1of 1945-1960.Tractors1and1bulldozers were imported for1reformation1of land for1the1purpose of1farming and1planting in1mid 1940s. Central and state or1anizations were1set up in 1947 for the1development, to endorse1the supply of tractors for1agricultural use. The1demand forthe1tractors was1completely met by1other countries1through importing in1years of 1960s. There1were around18,500 tractors1which werein use during 1951, which increased1to 20,000 in1year 1955 and 37000 in 1960. 1961-1970 (Second1Phase) Five manufacturers (Eicher, Gujarat tractors, Tafe,1Escorts,1Mahindra&Mahindra) begin manufacturing of1tractors1in 1961. All five1manufacturers1produced a1sum of 880 units yearly. By 1965 the1production has1improved1to 5000 units1each year. By 1970 annual1manufacturing of tractors1exceed 20,000 units with over 1, 46,000 units in1use in country. Dept. of Management, AIT. Page 4 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 1971-1980 (Maturity1Years) Six new players were1established during1this period1although 3 companies1didn’t survive (Kirloskar1Tractor, Harsha1Tractors and1Pittie Tractors). Public1sector Company1in 1972 HMT began1manufacturing Agricultural1Tractors1under brand1name “HMT” with technology acquired1from “Zetor” of1the Czech1Republic. Escorts1Ltd. began local1manufacturing of Ford Tractors in 1971 after joint1collaboration with1Ford and total number1of1tractors raise to 33,000 in 1975-76. 1981-1990 At the1beginning of1this period1five1new tractor manufacturer1where introduced1to the market, such as Auto1Tractor,1Haryana Tractors,1United Auto Tractor,1Asian Tractors,1VST Tillers. All these1companies1began1production of tractors1but only one survived1in the highly competitive market place.1By 1985 an annual1production of tractors crossed175,000 units and reached 140,000 in 1990. The total number of tractors in use was around 1.2 million. India was importer of1tractors in1mid 1970s became1an exporter1in 1980s mainly to1the countries in Africa. 1991-1997 (Present Scenario) In 1992 after the introduction of1LPG1(Liberalization, Privatization and Globalization) it became necessary1to obtain industrial1license for tractor manufacturers1in India. Till 1997 an annual1production of tractors exceeded 255,000 units. India now1emerged as one of the world leader in1production of wheeled1tractors. 1997-1999 In these two1years five new1manufactures1were introduced1in 1998 Bajaj1Tempo, later renamed 1Force1Motors, began1production of 1tractors1in Pune. In the1month of1April1of same financial year1New Holland1Tractors (India)1Ltd. launched1production of higher1range of 70 hp tractors1with1matching1equipment’s1by investing US $75 million1in a1state of the1art plant at Greater1Noida in Uttar1Pradesh with an1initial capacity1of 35000 units1per1year. Also during this time Larsen1and Toubro1established a joint1venture with John1Deere tractor for the Dept. of Management, AIT. Page 5 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. manufacturing of 35-65 hp at a plant in Pune and Greeves Ltd. Began1producing tractors1under similar1arrangements1with1Deutz-Fahr1of Italy. 1999-Present Sale of tractors slow down1and slightly decline in1traditional markets of1northern1India due to market saturation. Sales1of tractors1fall down by 200,0001till 2002. Tractor industry1face toward1eastern1and 1southern parts of India to reverse the decline and to begin the exploring for the potential in1international market. In 2013, 1India1accounting1for 29% of world’s1output with the1production1of 619000 units of tractors.1India currently1has 16 domestic1and 4 multinational corporations1manufacturing tractors. 1In 20141Zetor came back in1India and linked1with local tractor1manufacturing company to1manufacture 40to75hp1tractors with brand name “Zetor” to1other counties. Domestic1Tractor1market share Export: India1 has1been1exporting1tractors to1a many1countries, but1mainly to1Sri Lanka, 1Nepal & U.S.A. Alone Sonalika is1exporting1wide1range (20-120 HP) of1tractors to1around 80 countries. Study1reveal that1export from1India were down1in the year12014-15 and continued in 2015-16. Dept. of Management, AIT. Page 6 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. India’s1tractor tribe1has a new1top exporter - Sonalika1ITL. In1July12016 Sonalika1becomethe top Indian tractor exporter after shipping 1500 units1ahead1of1TAFE and1domesticmarketplace leader1Mahindra. Sonalika shipped14075 unit1in 2016 April-July, 1and manage the 3rd slot in cumulative1position. According to1TMA data in July 2016, Sonalika1ITL exported 1535 units, TAFE1exported 1260 units, John1Deere 1170 units, Mahindra 1110 tractors, New1Holland 725 tractors1and Escorts 85 tractors. Current1manufacturer of tractor1in India: 1. ACE1Tractor 13. Mahindra1Tractors 2. Agri-king1Tractors and equipment 14. Mars1Groups Pvt. Ltd. 15. New1Holland1Agriculture 3. Angad1Tractor 16. Preet1Tractor 4. Balwan1Tractor, Force motor Ltd. 17. SAME1Deutz-Fahr (India)Pvt. Ltd. 5. Captians1Tractor Pvt. Ltd. 18. Sonalika1International Tractor Ltd. 6. Eicher1Tractor 19. Standard1 7. Escorts1Tractor 20. Swaraj1Tractors 8. Farmer1Tractor 21. TAFE1 (Tractors1and1Farm 9. HMT1Tractor Equipment1Ltd.) 10. Indo1Farm 22. VST Tillers1(1965 in Bangalore, with Mitsubishi1Agricultural 11. John1Deere Machinery, 18hp) 12. Mahindra1Gujarat Tractor1Ltd. Dept. of Management, AIT. Page 7 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 1.3 Company Profile Sonalik1 had the modest beginning as farm equipment1manufacturer, farming1sonalika agro- industry. Sonalika1group was1established1in 1969, initiated by Lachhman1Das1Mittal, took around 7 years to1start its success story1with the foundation of1fabrication and wheat harvesting machinery1unit. Thus, with time Mittal’s took1initiate in 1976 due to unshaken1purpose of its promoter1and 1000s of employees1who worked1continues throughout. The success in1initial phase1boosted the moral1of Mittal’s and1its promoters1resulting to setting up of new manufacturing1plant named as International1Tractors1Limited. They1stepped into 1manufacturing business in 1995and sold its 1st homemade tractor by brand named “International Tractors1Limited in 1996 having1manufacturing plant1stated in Hoshiarpur, Punjab which1spread in area1approximately 65acers. Today Sonalika1group provide complete1agriculture solution1having HQ in Hoshiarpur, Punjab and expanded it footprints globally in 90 countries. In 2002 Sonalika1collaborated with1Renault agriculture1of France1and Class1tractors of1Germany, it’s recent tie1up with1Yanmar of Japan to bring1the updated1technology to India. Sonalika group is1consists of 3 companies: 1. SONALIKA1AGRICULTURE INDUSTRIES 2. INTERNATIONAL1TRACTORS LIMITED 3. INTERNATIONAL1CARS AND MOTORS LIMITED Company Background Sonalika Pvt. Ltd is1an unlisted1private company1incorporated1on 08 August, 1984. The registered1office of the1company is at 6B1INDUSTRIAL AREA1JALANDHAR ROAD, HOSHIARPUR,, PUNJAB. The total1paid-up capital1is INR 1.02 lac. The company1has not reported1secured1loans. The last1reported1AGM of the company, was1held on 29 September, 2017. Also its1last balance sheet was1prepared for the time1ending on 31 March, 2017. Dept. of Management, AIT. Page 8 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. The company1has two director’s/key1management personnel. Sonalika made its1commencement1in year 1969 and manufactured1some load carrying implement for agriculture needs like high quality wheat-thresher when India launched “The Green Revolution” in order1to become self-contained in food grain production. After Sonalika Agro Industry Corporation achieved great success in this venture to customer requested for manufacturing of1tractors. Going with the1ultimate response of farmers Sonalika stepped1into tractor manufacturing business in 1995. In 1996 under the name of International Tractors Limited (ITL) they launched its first tractor operation1starting its manufacturing plant in village Chak1Gurjran, Hoshiarpur, Punjab in the field of 65 acres. In year 2000 Sonalika ITL1started the joint venture with1Renault Agriculture1of France and Class1Tractors of1Germany1and bought1the upgraded1technology 1India and started1in house manufacturing1of1tractor1engines with1horsepower1range of 36 hp1to 60 hp in 2001 With this1Sonalika1ITL became 4th1largest manufacture1of tractor1of India in 2005 after tieing up with, Yanmar1of1Japan1Sonalika1launched its first compact1tractor named “Baagban” with minimum 20hp which help farmers to work in more efficient and resourceful manner. Along with the1production1of1new range of1worldtrac tractors1Sonalika introduced1new diesel saver units, new1products like1generator sets1and started1manufacturing of cranes and1also launch extensive1range of Garden-Trac. Later on it1started 1manufacturing1of Heavy1Duty mileage1tractors series1and increased its global1presence to 801countries1and become1number one tractor1manufacturing plant1with 3lac production1capacity. Dept. of Management, AIT. Page 9 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Nature of Business: Sonalika perform wide1variety of1business which1majorly consist of three parts: 1) SONALIKA AGRICULTURE INDUSTRIES: • Rotator • Maize Sheller • Combines • Tractor spares • Thresher • Potato planter • Hydraulic filter • Motor Grader • Straw Reaper • Front loader 2) INTERNATIONAL1TRACTORS1LIMITED Sonalika manufacture1extensive range1of tractors that1is 20hp – 120hp • GT series (<30 hp) • DI 734 • DI 745 III • GT20 • DI AND RX • DI 60 MM SUPER • GT22 SERIES (35 HP – • DI 47 • GT26 45 HP) • RX AND DI • BAAGBAN • DI 35 SERIES (>56 HP) • BAAGBAN • DI 42 RX • DI 60 SUPER • DI 740 III • WT60 • DI SERIES (31 HP • RX SERIES • WT75 -34 HP) (46HP-55HP) • WT90 • DI 732 HDM • RX 50 3) INTERNATIONAL1CARS AND1MOTORS LIMITED (do not exist in market now) It produces two types1of vehicles multi1utility and1sports utility1vehicles, some examples: • EXTREEM CD • EXTREEM AMBULANCE • EXTREEM SD • RHINO RX • EXTREEM VD Dept. of Management, AIT. Page 10 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. LOGO RATIONALE Here in this RED color symbol stands meant for the strength, power, determination and desire of the1company. Color YELLOW around the Sonalika determine the warming effect, arousing cheerfulness, stimulate mental activities and generate the same. GREEN color leaf in the logo symbolizes the1growth,1harmony, freshness1and fertility. Underlining of black color1under the1logo associate with1the power, elegance and formality. Color ORANGE1around the whole logo represents1the enthusiasm,1fascination, happiness,creativity,1encouragement and1stimulation. All this variation of1personality represents the Sonalika1company as a valuable1asset to the whole industry. OBJECTIVES OF COMPANY a) The main goal1of ITL1is to fetch high end technology,1high quality1and cost effective advantages to its customers. With collective hard work of its various departments and fully computerized manufacturing facilities, ITL ensure nonstop supply of world class highly competitive tractors. Apart1from the general1objective, every departmenthas their own objectives, which are in tune with the main1objective of the company. In that1sense the main aim1of R&D department is to have the finest1in product development1with maximum1utilization of the human1resources available. Dept. of Management, AIT. Page 11 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 5S formulas Seiton Seiso 5S Seiri Seiketsu Shitsuke These 5s stand for1the first five1letters of the1Japanese words1which means: 1S: SEIRI Sorting, out, clearing,1segregation,1proper selection1and remove1the Waste, 2S: SEITON Systematic1arrangement, Proper1allocation, proper1place for1everything and1everything in its place. 3S: SEISO Cleaningkeep1all the1work place1area& equipment neat and1clean. 4S: SEIKETSU Standardizing,1surroundings,1cleanliness,1Light, noise,1punctuality (Order and save time) 5S: SHITSUKE Maintain discipline1and standards1to preserve1above 4s, respect1the rules. The 5s also1helps to develop and1sustain a good1managerialbehavior. This1program started1in ITL from December 2000. The1ultimate goal of1maintenance through 5s is1to reduce the cost1of product by increasing1productivity and1contributing to total1quality. Dept. of Management, AIT. Page 12 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 1.3.1Promoters • Chairperson: Mr L.D. Mittal • Vice Chairperson: Mr A.S. Mittal • Managing Director: Mr Deepak Mittal 1.3.2Vision, Mission, Quality policy. Vision ITL’s vision is to1grow1to be1the world’s leading1tractor manufacturing1and farm mechanization1Company. To be1the best in1customer satisfaction1by being1customer focused1and aligning systems1and processes1that develop and1delivers high1quality, innovative1products1at competitive1price. Mission a) To achieve1international1standard of1excellence in all1aspect of agriculture1and diversified business1with focus1on customer1delight b) To maximize1creation of1wealthy value and1satisfaction for1the shareholders. c) To attain1leadership in1developing, adopting1and assimilating1state of the 1art technology for competitive1advantage. d) To provide1technology1and services through1sustained research1and development. e) To faster a1culture of1participation and1innovation for1employee’s growth and1conditions. f) To cultivate high standards of business ethics and total quality management for a strong corporate1identity and brand1quality. Core Values Sonalika1ITL is committed to1its core values to serve1its patrons with1passion and1deliver quality, the1company strives to1build a relationship1based on trust and1promotes team1work and1innovation1amongst its1employees. Dept. of Management, AIT. Page 13 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Quality • ISO-9001 ITL has got ISO-9001 quality system certified by International1Certificate1Limited. It is for use when conformance to particular1necessities is to be1guaranteedby1supplier during numerous stages1which may1include design,1development, production,1installation &1servicing. Sonalik1 has collaborate1with French1Renaults for1technical support and1marketing. With the help of this partnership Sonalikadeveloped its own1DI-740 Tractor1engine which help it to reduc1 its overall1expenditure. • ISO 14001:2004 1.3.3Products of Sonalika ITL*(HP - horsepower) Sonalika ITL present wide1range of products starts1with 20 hp to 120 hp which1satisfy every customer by fulfilling their needs1Sonalika manufacture tractors for every type of farm.Compact tractors for1gardens, tractors for land1cultivation, heavy duty1tractors for heavy work and1pulling, Sonalika also introduced AC1cabin tractors for its1customers. PRODUCTS OF SONALIKA <30 HP 31-34 HP 35-45 HP 46-55 HP > 56 HP • GT 20 • DI 732 • DI 35 HDM • DI 42 • GT 22 • RX 50 • DI 60 • DI 734 • DI42 RX • GT 26 • DI745 III • WT60 • DI740 III • Baagban • DI60MM • WT75 • Baagban SUPER • WT90 SUPER • DI 47 Dept. of Management, AIT. Page 14 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 1.3.4 Area1of1Operation AREA OF OPERATION National/Regio Ownership Global Partners nal Partners Pattern Global Partners Sonalika goods have formed a niche market for themselves not only in India but as well have clients1in1more1than190 countries, many foreign markets including France, Africa, Bangladesh, Sri Lanka,1Sengal, Mali, South Africa, Canada, Syria and some of the South Asia countries. Some1of1the1international clients1are as follow: • MG Rover, • Class Tractors of Germany and • Power Train, • Yanmar1of Japan • Renault1Agriculture of France Sonalika group turnover The total1turnover1of1group1is1around110,000crore. Current growth1rate of1Sonalikais around 19.2% which makes1it one1of1the1fastest growing1company in1an Indian corporate. Sonalika1is a one1of the few1companies1which are1debt free companies in India. Ownership Pattern Detail of top management at Sonalika. • Chairperson: Mr L.D. Mittal • Vice Chairperson: Mr A.S. Mittal • Managing Director: Mr Deepak Mittal • Finance Head: Mr Rajnesh Jain • Production Head: Mr Ashok Kapoor • Marketing Head: Mr L.R. Yadav • R&D Head: Mr Ashwani Malik Dept. of Management, AIT. Page 15 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. The company has two directors. The directors are Deepak Mittal and Sushant1Sagar Mittal. The currently serving1director on board is Deepak1Mittal who was1appointed on 8th Aug., 1984. He hasbeen on1the1board1in the company for1more than 33 years. Deepak Mittalhas1the1largest number of1directorships with a1chair at a total1of 21 differentcompanies. In total, the company is associated to 33 other1company through its directors. The most1recently appointed1director is Sushan1Sagar Mittal, on 30 March, 2015. 1.3.5Infrastructure Facilities Like every other big organization’s Sonalika1ITL is an integrated tractor production unit, provide all the required facilities to carry1out overall goal of organization. Infrastructure is a layout of an organization which facilitates the proper flow of resources1within an1organization and even outside the organization with vendors and distributers. For optimum utilization1of all the1inputs or resources is1essential to carry out1some desired output. Infrastructure facilities of Sonalika ITL areone1of1the most significant1and1prior needs which include following under one roof: • Research & Development centre • Human resource • Production • Assembly • Assembly • Sales department • Manufacturing • Safety measures (Ambulance, Fire • Supplier development Brigade, etc) • Finance • Canteen • Marketing Research & Development R&D centre in a company plays very integral function in the products life cycle.R&D work very deep and closely with various different departments in an organization. R&D works with production and sales department, it monitor day to day function and demand of both domestic and international market. Thus, this department is committed toward the expansion of new products, design, upgrading, quality check and innovation in their products. Research &Development1Centre is further divided into following three main parts: Dept. of Management, AIT. Page 16 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. • R&D (Design) • R&D (Protoshop) • R&D (Testing) R&D (Design): This division deals with designing and modification of the1machinery, which will1be subjected1to testing. The designed machineryare developed1and forwarded to Protoshop for fitment of components on tractor. R&D (Protoshop): This division deals1with the1fitment of the components, whichare designed by R&D (Design). Tractors with new fitted components are given to testingdepartment for testing purpose. R&D (Testing): This department deals1with1the testing of the newly developed1components, imitation of field failures in the test labs and in the field.1This division has huge circle of different activities, which lead to1customer satisfaction1by providing them1 best1product quality. Following category of testing1is done in1these two departments: - 1.) Static component testing 2.) Dynamic component testing Assembly ITL is known for1the production1of high quality world class tractors with large1assortment of products demanded overseas in around 90 countries, company has such huge demand1due to its finest assembly unit located in Punjab. Sonalika ITL unit has been equipped as per modern standard manufacturing technology resulting in minimizing the product finishing cycle. Because operational assembly of this unit schedule is so well timed that1one single production unit Sonalika ITL became largest producer of tractors with its manufacturing capacity of 400 tractors1per day. Training Centre Training activities for staff are very essential for both businesses1in addition to their personal career. Training helps to improve specific skills of your employees required to business. Also it willkeep1employees up1to1date with1admin, management1and technical skills. Employees always have1some1weakness in1their place of work and personal skills. Thus, Training centre Dept. of Management, AIT. Page 17 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. interacts with all the1departments of an organization1and allow each employees1to strengthen their skills they require to improve. Sonalika1has a1training and1development1unit “State-of- Art” in Hoshiarpur where1company officer, dealers and1their end customers are trainedas per their requirement. Manufacturing Sonalika ITL has manufacturing capacity of around 400 tractors per day, which is only possible due1to1its integrated1facilities1consist of 1marketing, 1finance, 1supply, 1production ,1quality and human1resources under1single roof and work intimately with various functions like planning, forecasting, quality, maintenance, supplier demand, R&D etc. to meet demands of customers. Work Culture The ITL seek to1build a1culture where each employee, vendor, and dealer should feels himself equally accountable and important1part1of the enterprises. The work1traditions at ITL is1open& participative. Learning is positive in the company. 1.4COMPETITORS Tractor manufacturers Location Brand Power range Escorts Agri Machinery Group Faridabad Farmtrac 30-60hp Powertrac 34-55hp Escort 27-35hp Force Motors Ltd. Pune Balwan 25-55hp John1Deere1Equipment Pvt. Ltd. Pune John Deere 35-75hp Mahindra Farm Equipment Nagpur Sarpanch 32-52hp Dept. of Management, AIT. Page 18 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Vadodara Arjun Ultra-1 42-59hp New1Holland Fiat1India Pvt. Ltd. Greater Noida New Holland 35-75hp Same1Deutz-Fahr1India Ltd. Ranipet Deutz-Fahr (new) 50-70hp Tractors1and Farm1Equipment Chennai TAFE 30-60hp Massey Ferguson 35-50hp Eicher 24-60hp 1.5SWOT ANALYSIS Strength: Cost Advantages: Lower prices cause higher profits for Sonalika tractor, occasional price leader will undercut rivals on value. Supply Chain: A durable offer chain helps Sonalika tractor acquire the right resources from1supplier’s delivery the correct product to customers in associate passing timely manner Brand Name: A durable complete may1be a significant strength of Sonalika. This offers Sonalika tractor the flexibility to charge1higher costs for product as a1Results of1shoppers place additional worth at intervals the whole Pricing Power: Generally, rebel against value will increase by change to competitive product, however if an organization has valuation power, customers can continue exploitation Sonalika tractor’s product1and1services. Sonalika has the flexibility to charge customers higher costs. Weaknesses: Work Inefficiencies: Inefficient work surroundings1means Sonalika tractor’s product1and services1don't seem to be obtaining used properly. Dept. of Management, AIT. Page 19 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Weak Management: Weak management will lead business toward risks and reduces profits of company, Lack of Scale: In absence of scale suggests that Sonalika tractor’s value per1unit of production is awfully high. Increasing volume, whereas maintain quality, would facilitate cut back those costs. "Lack of Scale” can have a protracted harmful impact on this unit that subtract from the entity's worth. Opportunities: International Expansion: International markets offer Sonalika tractor new opportunities to develop the business and increase sales. Emerging Markets: Rising markets unit quick rising1area of the planet that alter Sonalika tractor to quickly expand. New Technology: New updated technology helps Sonalika tractor to meet up their customer’s requirements with new and superior product1and services1with added features in tractors. Technology conjointly build competitive barrier against rival and keep Sonalika ahead of competitors. New Products: New and large1assortment of Sonalika products will facilitate Sonalika tractor to expand and develop their business globally and choice their shopper base. New Markets: New target markets enable Sonalika tractor to grow and develop their business geographically and diversify portfolio of thei1 product and1services. Threats: Mature Markets: Mature markets unit competitive. so as for Sonalika tractor to1grow in passing mature market, it's to1extend market share, that is sturdy and valuable Intl Competition: International competitor’s unit varied and exhausting to combat, as a results of theirheading for several competitive edges that offer them a bonus over Sonalika tractor Substitute Products: the supply of substitute product hurts Sonalika tractor’s ability to elevate costs, as aoutcome of shoppers will simply switch to a special product or service. This qualitative issue could find yourself throughout an1increase in prices. Dept. of Management, AIT. Page 20 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Intense Competition: Intense competition will lower Sonalika tractor’s profits, as aoutcome of competitors will stimulate shoppers away with superior products. Intense Competition might be a straightforward qualitative issue to beat this issue Bad Economy: Poor economy will hurt Sonalika tractor’s business by decreasing the quantity of promisingconsumers in market. Government Regulations: Timely changes in government policies will negatively have an impression on Sonalika tractors. 1.6FUTURE GROWTH & PROSPECTS • International Tractor Limited. has to1focus on the expansion of their business1in such1a manner that they can built their1brand name which contains a value. They expanded1their business overseas in around 90 countries and also in and few other states in India so that their brand value will increase and lead to the profit. They have to1focus more on buyer satisfaction through quick and standard service. • Expansion of both product line and proper service network with standard service is the future growth prospects for the ITL. • Through tie-up1with1Yanmar, ITL is targeting five additional1markets in 2018-2019. • Sonalika ITL., the 3rdbiggest1tractor manufacturing1company in India1aims to twice its profits by 2020. • Sonalika has plans to set1up new manufacturing unit of tractors1which is probable to come up in Karnataka, India. • Sonalika seek 15-20% growth from overseas shipment. • In international market Sonalika strategy to its major1expansion in Africa. Dept. of Management, AIT. Page 21 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 1.7Financial Statement: Balance sheet (Rscrore) Sources1of funds Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05 Mar ' 04 Owner's fund Equity share capital 60.76 60.76 60.76 60.76 60.76 Share application money - - - - - Preference share capital - - - - - Reserves & surplus 604.08 586.24 508.26 451.66 426.94 Secured loans - - - 27.18 50.04 Unsecured loans 4.05 10.74 12.98 12.20 9.90 Total 668.88 657.74 582.00 551.80 547.63 Gross block 304.24 295.26 288.57 286.69 285.20 Less : revaluation reserve - - - - - Less : accumulated depreciation 216.31 201.73 188.06 174.01 158.31 Net block 87.93 93.53 100.51 112.68 126.90 Capital work-in-progress 2.63 0.59 0.74 0.61 0.60 Investments 154.48 4.43 9.23 10.85 10.22 Current assets, loans & advances 631.10 727.22 669.13 677.35 636.56 Less : current1liabilities & provisions 207.27 168.03 197.61 249.69 226.64 Total net current1assets 423.84 559.19 471.52 427.66 409.92 Miscellaneous expenses1not written - - - - - Total 668.88 657.74 582.00 551.80 547.63 Book value1of unquoted1investments 149.98 4.43 4.78 4.78 4.78 Market1value of quoted1investments 151.23 - 116.02 158.00 112.35 Contingent liabilities 21.28 13.42 13.14 8.92 6.72 Number of equity1shares outstanding (Lac) 607.56 607.56 607.56 607.56 607.56 Dept. of Management, AIT. Page 22 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. CHAPTER 2 (CONCEPTUAL BACKGROUND AND LITERATURE REVIEW) Dept. of Management, AIT. Page 23 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 2.1 Theoretical Background Organization is said1to be successful organization only when the consumers1are aware of products and1services of the1company. Consumer understanding is a widely used company’s marketing plan. The customer1awareness is a process in which1entrepreneur does the various activities in1order to gain the customers attention. Through the employer can1exert a pull on more number of customers which helps the company to recognize the market and to get the desired outcome for their products. Customer awareness programme has some certain objectives mentioned below: • To build a good brand image of company and its products in the mind of the customers. • To compete and to carry on in the extremely competitive marketplace with the stable brand image. • Through the effective customer awareness program, organization can reach1the1targeted population and attract the customers in an effective manner. • This program will help the customers to1know about various products offered1by the organization. • It will help to give clear picture about the benefits of various products1and1services to customers. • It helps in increasing customer confidence about the products and services of the company. What is necessity of building awareness amongst the customers of company? In the today’s scenario customer awareness has become necessary for every company as of the saturated1and1highly competitive market, customer1awareness1program is very important to bring awareness about the company’s products1in the mind1of1consumers. This awareness program helps in building better customer knowledge about the products. Awareness plan must designed by the1corporation1in such a way that it can reach maximum number of target potential1customers. Such1awareness program1alsohelpscompany to1raise the demand of their1products1in the market. It also opens various1opportunities to expand1and target new market1place and capture more geographically. Dept. of Management, AIT. Page 24 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Company should1raise its USP1(unique selling price) while planning1for awareness programme to attract more and more1new customers. 2.2 Literature Review 1. Oliver1(1999) defined, "Satisfaction as1pleasurable fulfillment. Satisfaction1is the customer’s sense that1consumption provides1outcomes against a1standard of pleasure versus displeasure. 2. Pakola1et al. (2003)1surveyed 397 Finnish1customer-purchasing motives1on one hand and factors1affecting operator choice1on the other and the resul1 indicates1that audibility; price1and other1related factors1are regarded1as the most- important1in the choice of1the mobile1phone service1provider. 3. Kotler (2006)1also noted1that1satisfaction is a1function of1perceived1performance and expectations1that identifies1feelings of a1person resulting1from comparing1a products perceived1performance in1relation1to1his/her1expectations. 4. Anderson et1al.(1997) The1centrality1of1the concept1is reflected1by1its inclusion1in the marketing1concept that1high customer1satisfaction ratings1are widely1believed1to be1the best indicator of a company’s future profit. 5. Anderson1et al., (1994) satisfied customers are more willing to pay for the benefits they receive1and are more likely1to be tolerant1of increases in price. This1implies high margins and customer1loyalty. Otherwise, it will lead to1customer turn1over, high replacement costs and high1customer acquisition costs. 6. Prahlad1and Ramaswamy1(2000) have rightly states that consumers/customers are changing1the dynamics of the1marketplace. The market1has become a1forum in which customers play an active role1in creating and competing1for value. Customers are becoming a1new source of competence for the corporation. 7. Krishna1and Shylajan1(2007)1stated that brand1awareness and brand1visibility1plays an important1role along with1product features. It is1concluded that for1most of the products,1brand awareness1is a significant1determinant for buying1behavior. 8. Kennedy1&1Schneider (2000) states,that in the1changing economy1 knowledge is as important as1product / Service which is1becoming1globally standardized. Companies Dept. of Management, AIT. Page 25 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. gain competitive1advantage1through1constant1innovation; better1targeting1customers and additional1service. Customer satisfaction1has been an important1aspect for every organization1due to constant1innovation in components or1service. 9. Kotler1and1Armstrong1(1993) stated that1consumer/customer1satisfaction is determined by1the relationship1between the1customer’s1expectations1and product’s perceived1performance. 10. Bitner1et al1(1996) defined, satisfaction1is the customers1evaluation of a1product or servic1 in terms of1whether that product1or service1has met their needs1and expectations. 11. Furse et1al (1994)1 refers, "Satisfaction as the1measurement of1one or more1variety of customer opinions1including ratings1of service quality, ‘future1behavioural intentions, customer’s1self assessment1of outcome and1satisfaction. 12. Webbrook and1Oliver (1991) described customer1satisfaction is a1post choice evaluative1judgment concerning1a specific1purchase selection. 13. Oliver1(1987) defined1customer satisfaction1as an outcome1of a purchase/1usage experience1would appear1to be an important1variable in the 1of purchase1experience linking1product selection1with other post1purchase phenomena1including favorable word-of-mouth1and customer1loyalty. 14. Halstead,1Hartman and1Shmidt1(1994) found that1customer satisfaction is a transaction-specific affective1response resulting from the1customer’s comparison of product performance to some1pre-purchase standard. 15. Rust1and1Zahorik (1993) Customer satisfaction might be linked to individual loyalty, aggregate retention rate, market share1and profits showed in the study. 16. Terblanche1&1Boshoff (2001) assessed the1influence of certain factors1on customer’s level of1satisfaction in their1study. It has been found that service quality, product quality and1product varieties are the three dimensions that1influence customer1satisfaction. 17. Ching-chow1Yang (2003) stated that customer1satisfaction measurement highlights the strength and1the area of improvement in the quality of product. Continuous1improvement is1considered1one of1the1important quality1activities for a firm to pursue1the1best quality for its1products. Through the1continuous improvement actions, the1enterprise can1increase customer1satisfaction and1raise profits. Dept. of Management, AIT. Page 26 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 18. Bolton 1(1998)1indicates that1customer satisfaction is1positively related1to the duration of the relationship. The strength1of the relationship1between duration times and satisfaction1levels depends on1the length of1customer’s prior experience1with the organization. 19. Taylor1(2002)1stated that company1should stay focus on1delivering services1quickly and consistently1so that1it reaches to customer1fast. 20. Fe and1Ikova 1(2004)1added that the1perception of the1word "satisfaction"1influences the activities,1which a customer1conduct to achieve it. 21. Goodman et al1(1995) examined1the relationships1among levels1of involvement between1customers and1suppliers, customers1evaluations of1core and1peripheral factors in their1transactions and1customers and1overall those1less involved. Peripheral1aspects, such as supplier1responsiveness to1customer inquiries1appeared to1influence how customers1evaluated a1core product as1well as1their overall1satisfaction. Dept. of Management, AIT. Page 27 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. CHAPTER 3 RESEARCH DESIGN Dept. of Management, AIT. Page 28 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 3.1 STATEMENT OF THE PROBLEM Shift of customers was seen in the customers of Sonalika with increasing competitive edge in the market.Sonalika has not carried out any survey in last decadewith respect to awareness with the consumers of sonalika, their satisfaction level with products and services provided by the companies dealers and there were decrease in sales growth of Sonalika as match up to previous records. 3.2 NEED FOR STUDY When company wants to raise customer awareness about products provided by them to attract more customer to increase its market share than company needs applystrategy and plans often in order to get additional customer. The need for this study is to recognize whether the customer awareness do have an impact on company. 3.3 OBJECTIVE OF THE STUDY 1. To study awareness of Sonalika tractors among the customers. 2. To study the consumer satisfaction with pricing of Sonalika tractors. 3. To check customers preference while choosing tractor. 3.4 SCOPE OF THE STUDY The study on customer awareness covers whole Hoshiarpur city and its nearby cities like Haryana, Dasuya and Mukerian the constraint of the research is about 10 weeks. Including existing customer, customer who are keen to buy tractor and dealers of Sonalika has been included for the survey. Why it is essential to choose right tractor Tractor that is too small andone that is too large, in both the case you are not been able to get return on investment, because smaller tractor will not give you desires out come in the field, whereas large tractor will be extra burden on your pocket, it will consume more fule, more cost you had paid , higher maintenance. Dept. of Management, AIT. Page 29 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Once you understand which specifications are essential in your tractor, you can make right decisions for your purchase of tractor. Points to be consider: • Type of land. • Flat or hilly area. • Which all attachments you want to use. • Purpose of buying; farming, heavy load pulling etc. • Conditions in which tractor will be used. Attachments of tractors • Box Blades • Mowers • Tillers • Plows • Disk • Harrow 3.5 RESEARCH1METHODOLOGY This chapter1focuseson research methodology1that was used for the study. It provides a detailed explanation1of the research1approach adopted1 in this study. Research1design, target population, research1instruments, collection of data and examination1methods used were presented in the subsequent sections.Methodology1clarifies techniques used for gathering data to the step touch are as follows: 3.5.1 RESEARCH DESIGN Descriptive Research: Descriptiveresearch1design being1used. Descriptive research include gathering of data that explain no. of trial and1then organizes,1tabulates and1describes the1data collection It is evidence based research design where quantifiable information is gathered and1used1for statistical result on target sample size through data analysis. Dept. of Management, AIT. Page 30 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Exploratory Research: Exploratory Research is related with finding general way of the issue and the factors that are identified with research study. 3.5.2 Population As of studies 57% Indian1population1engaged in agriculture. For survey people from Hoshiarpur area were taken as population of study, Hoshiarpur district1has an area1of 3365 km2 and1a population1is15,86,625 persons1as per census1and 1on1an average every Sonalika dealer cover around 10-15 km area for their sale (basically located in main cities) which provide us with large population for implementing results collected through sample size. 3.5.3 Sample Design Simple1random1sampling1technique was1used to select1the sample1size. Customers were used as1a study sample1to represent the1population of1consumers. Respondents were selected randomly representative sample of 100 for the population. This was effective sampling technique since it gave1us the advantages to focusing on important sample1size and allowed to use different sampling technique for improving the accuracy of outcome. 3.5.4 Data Collection The research involves both the mode of data collection, primary1and secondary1data collection. primary data, which was1collected using well-structured1questionnaire1distributed to the 100 respondents who were1sampled1from the marketplace, Sonalika1dealers etc. data was collected through questionnaires from the respondents which took several days and their responses used for investigation and explanation of data to make it meaningful information. The questionnaire had both1open ended questions1and close ended questions to1guide the respondent through filling of the survey1further probe them for1more information. 3.5.5 Validity and Reliability; Validity and1reliability1has been proved1through1pilot1testing, which1was carried to identify any type of flaws on the1questionnaire to reduce1errors of measurement1and test for consistency. Dept. of Management, AIT. Page 31 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 3.5.6 Data1Analysis Statistical tools1were used to1analyze this1data. The mean1responses, standard1deviation and other relevant statistics were1computed to better understand the data. The data1composed through survey was compile and edited to verify error correction and logical inconsistencies. The statistics then coded1according1to1the1response. Relationships between responses was analyzed and presented with the tables and graphs and analysis was done using Correlation analysis was applied in this study to reveal1relations among1variables in the result from the data. 3.5.7 TYPES OF DATA For research study 2 sources1of data1have been collected and1those are: 1) Primary Data 2) Secondary Data Primary data: It is indigenous sources which are directly collected1by the researcher and these data are not available in any or the1other form or with any other1researcher. The data1is composed through the structure questionnaire in this study. Secondary data: It is1a data1which we readily get on the public sources like articles, reports websites and company magazines. For1this1study company website, report and articles are used as secondary sources. 3.5.8 SAMPLING Sampling Design: Simple1Random1Sampling Sampling Frame: General1public and1existing1customer Time Periods: 10 weeks Sample Size: 100 Dept. of Management, AIT. Page 32 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 3.5.9 MEASUREMENT1TECHNIQUES Questionnaire It shows the mostly recognized type of estimation of data. To such an extent, as much its function is estimation. Questionnaire design included Open-ended questions, Multiple-Choice questions,Likert scale questions and Dichotomous questions. Open-Ended Questions: Respondents feel free to give the answers that seem appropriate in the light of the questions.A questionnaire was included that administered an open1ended1question to ascertain the expectations of1respondents in life insurance. Multiple-Choice Question: Numerous decisions are quickly trailed by a rundown of conceivable from which the respondents must pick one alternative. Dichotomous Question:Dichotomous questions speak to an outrageous type of the numerous decision, permit just two reactions, for example “Yes or No”. Rating Scales: The evaluation requires a measure to put the characteristics of matrix of the object being evaluated in a certain point along the chain of the required categories numerically. Focus on the scale of evaluation, characteristics, in general, towards the object. Grade object containing the attribute. 3.6 Hypothesis Framework: H0: The Brand Image of the company does not vary with Annual Income of the customers. H1: The Brand Image of the company vary with Annual Income of the customers. Statistical Tests: The statistical tests used are percentage Analysis, SPSS. Let’s see the meaning of the statistical tests and what the uses of these tests are. Software called SPSS is used for testing the hypothesis. Dept. of Management, AIT. Page 33 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. ANOVA Used to analysis1difference among1group mean, one way1anova has one independent1variable and two way1anova has1two independent1variables. 3.7 Limitation of study: 1. There was a limited time constraint provided for the study. 2. As the1company is private limited, some1of the1information was kept confidential. 3. Some1of the1respondents hesitated to provide their opinion. 4. Respondent has shown biasness while answering few questions. 5. Respondent feels difficult to1compare Sonalika and1other1brand tractors. 3.8 CHAPTER SCHEME: Chapter 1: It gives1a brief1description about the industry profile and the company profile, Promoters, Vision,1Mission and1Quality policy and SWOT analysis of1the1company. Chapter 2: It gives1us1information about1theoretical1background1and the1literature review. Chapter 3: It gives1us brief1information1on the1research design1and all1other functional departments1of the1organization. Chapter 4: It deals1with the study and1understanding of the data1collected in the1organization. Chapter 5: It gives1the summary of1Findings,1Conclusion and1Suggestions. Dept. of Management, AIT. Page 34 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. CHAPTER14 DATA1ANALYSIS AND1INTERPRETATION: Dept. of Management, AIT. Page 35 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.1Table showing qualification of respondents. Qualification of respondents? Responses %age 10th 20 20% Pre University 38 38% Graduate 32 32% Post Graduate 10 10% Analysis: From the data mentioned above 38% respondents passed Pre University, 32% respondents passed Graduation, 20% respondents are Matrix passed and 10% are Post Graduates. Graph 4.1Graph showing qualification of respondents. qualification of respondents 38 40 32 30 20 20 10 10 20% 38% 32% 10% noof respondents 0 10th Pre University Graduate post graduate Responses %age Interpretation:From this, we can, conclude1that1majority of respondents have passed their Pre University, followed by Graduates. By this response we can say majority of population is educated. Dept. of Management, AIT. Page 36 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.2Tableshowing occupation of respondents. Occupation of respondents? Responses %age Farmer 61 61% Business 29 29% Job 7 7% Student 3 3% Analysis: We1can see161% respondents are farmer by occupation, 29% respondents own business, 7% respondents are employed and remaining 3% are students. Graph 4.2Graphshowing occupation of respondents. occupation of respondents 70 61 60 50 40 29 30 20 7 10 3 no. respondents of 61% 29% 7% 3% 0 Farmer Business Job Student Responses %age Interpretation: Majority of respondents are farmers, followed by respondents who own business. Dept. of Management, AIT. Page 37 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.3Tableshowingwhether it’s first tractors of respondents or not. Is this is your first tractor? Responses %age YES 30 30% NO 70 70% Analysis: Here you,can, see70% respondents already have tractors and 30% bought or willing to buy new tractor. Graph 4.3Graphshowingwhether it’s first tractors of respondents or not. Is this is you first tractor 80 70 70 60 50 40 30 30 20 no. respondents of 10 30% 70% 0 Responses %age YES NO Interpretation: Wecan conclude majority of respondents own tractor, followed by respondents willing or bought new tractor. Dept. of Management, AIT. Page 38 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.4Tableshowing which tractor they are using Which tractor are you using? Response %age Swaraj 28 28% Mahindra 8 8% Ford 16 16% John Deere 11 11% Sonalika 19 19% other 18 18% Analysis: We can, see 28% respondents are using Swaraj tractors and 19% respondents of are using Sonalika tractors, 18% respondents are using other brand tractors (Escort, Preet, Eisher, New Holland, Poland, Powertrac, Farmtracetc. , 16% respondents are using Ford tractor, 11% are using John Deere, and remaining 8% of them are using Mahindra tractors(Arjun). Graph 4.4Graphshowing which tractor they are using. which tractor are you using 30 28 25 19 20 18 16 15 11 10 8 no. respondents of 5 28% 8% 16% 11% 19% 18% 0 Swaraj Mahindra Ford John Deere Sonalika other Response %age Interpretation: Here, we conclude majority respondentsareusing Swaraj Tractors, followed by respondents of Sonalika. Dept. of Management, AIT. Page 39 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.5Tableshowingpurpose of purchasing tractor. Purpose of purchasing tractor? Response %age Agriculture 85 85% Business 15 15% Analysis: We can, see that, out of total respondents 85% respondents have bought tractors for agricultural purpose and 15% bought tractor for the purpose of business. Graph 4.5Graphshowingpurpose of purchasing tractor. purpose of purchasing tractor 100 85 80 60 40 15 20 no. respondents of 85% 15% 0 Response %age Agriculture Business Interpretation: Main purpose of buying tractors by the respondents is agriculture and remaining bought tractor for their business. Dept. of Management, AIT. Page 40 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.6Tableshowing annual Income of respondents Annual Income of respondents? Response %age Below 3 lac. 8 8% 3-4 lac. 16 16% 4-5 lac. 40 40% 5-6 lac 30 30% 6-7 lac 6 6% Above 7 lac 0 0% Analysis: We can see, in graph income of 40% respondents is in range of 4-5 lac annually, income 30% of respondents is in range of 5-6 lac annually, 8% respondents earn below 3 lac, 6% earn 6-7 lac annually and none of them earn above 7 lac annually. Graph 4.6Graphshowing annual Income of respondents annual income of respondent 45 40 40 35 30 30 25 20 16 15 8 no. respondents of 10 6 5 8% 16% 40% 30% 6% 0 0% 0 Below 3 lac. 3-4 lac. 4-5 lac. 5-6 lac 6-7 lac Above 7 lac Response %age Interpretation: Here we can, conclude majority respondents earns 4-5 lac a year which is followed by, respondents with 5-6 lac income range. Dept. of Management, AIT. Page 41 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.7Tableshowing price range do respondents prefer What price rangeyou prefer to buy tractor? Response %age 2-3 lac. 12 12% 3-4 lac 14 14% 4-5 lac 48 48% 5-6 lac 8 8% 6-7 lac 17 17% Above 7 lac 1 1% Analysis: We can see, graph 48% respondents prefer tractors within 4-5 lac price range, 17% respondent prefer tractors of 6-7 lac range 14% respondents prefer range of 3-4 lac, 12% respondents prefer range 2-3 lac, 8% prefer tractors with price range of 5-6 lac and only 1% prefer tractor above 7 lac price. Graph 4.7Graphshowing price range do respondents prefer price range prefered by respondents 60 48 50 40 30 20 17 12 14 no. respondents of 8 10 12% 14% 48% 8% 17% 1 1% 0 2 - 3 lac. 3-4 lac 4-5 lac 5-6 lac 6-7 lac Above 7 lac Response %age Interpretation: we can, conclude majority of respondents prefers the price range of 4-5 lac followed by respondents who prefer tractors cost 6-7 lac. Dept. of Management, AIT. Page 42 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.8Table showing horsepower preference by customers How much horsepower you prefer? Responses %age <30 HP 11 11% 31-34 HP 12 12% 35-45 HP 45 45% 46-55 HP 30 30% >55 HP 2 2% Analysis: We can, see 45% respondents prefers tractors of 35-45 horsepower, 30% of respondents prefer 46-55 horsepower tractors, 12% of them prefer 31-34 horsepower tractors, 11% of them prefer tractors below 30 horsepower and remaining 2% of them prefers more than 56 horsepower in their tractors. Graph 4.8Graph showing horsepower preference by customers respondents preferance w.r.t horsepower of tractor 50 45 45 40 35 30 30 25 20 no. respondents of 15 11 12 10 5 2 11% 12% 45% 30% 2% 0 <30 HP 31-34 HP 35-45 HP 46-55 HP >55 HP Responses %age Interpretation: We can, conclude majority of respondents prefers 35-45horsepower tractors followed 30% respondents who prefer 46-55 horsepower tractors. Dept. of Management, AIT. Page 43 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.9Tableshowing if sonlika tractor is superior or not. Sonalika is superior than other brands? Responses %age Yes 42 42% No 25 25% Maybe 33 33% Analysis: We can see, 42% respondents are agree to the statement that Sonalika is superior to other brands, whereas 33% respondents neither agree nor disagree with statement and remaining 25% respondents says no to the statement. Graph 4.9Graph showing if sonlika tractor is superior or not. Sonalika tractors are superior than other brand tractors 50 42 40 33 30 25 20 10 no.ofrespondents 42% 25% 33% 0 Yes No Maybe Responses %age Interpretation:We can, conclude respondents with majority are agreed that Sonalika is a better brand followed by respondents neither agree nor disagree. Dept. of Management, AIT. Page 44 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.10Tableshowingsatisfaction level based on Pricing. Pricing of Sonalika tractors? Responses %age Very satisfied 22 22% Satisfied 49 49% Average 25 25% Dissatisfied 4 4% Very dissatisfied 0 0% Analysis: Here we can see, 49%1respondents are1satisfied with the pricing of1Sonalika tractors, 25% respondents choose1average rating, whereas 22%1respondents are very satisfied and only 4% are dissatisfied. Graph 4.10Graphshowingsatisfaction level based on Pricing. satisfaction level based on price of sonalika tractor 60 49 50 40 30 25 22 20 no. respondents of 10 4 22% 49% 25% 4% 0 0% 0 Very satisfied Satisfied Average Dissatisfied Very dissatisfied Responses %age Interpretation: We can, conclude majority1of the1population are1satisfied with the pricing of Sonalika1tractors followed1by respondents1who rate average1satisfaction. Dept. of Management, AIT. Page 45 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.11Tableshowing whether Sonalika has good brand image Sonalika has good brand image? Responses %age Yes 71 71% No 29 29% Analysis:Here71%1respondents responded that1Sonalika has a good brand1image and 29% says it doesn’t have good1brand image in the1market. Graph 4.11Graphshowing whether Sonalika has good brand image sonalika has good brand image 80 71 70 60 50 40 29 30 20 no. respondents of 10 71% 29% 0 Responses %age Yes No Interpretation: Majority of1respondents agreed that1Sonalika has a good brand1name in the market remaining1respondents are not agreed that Sonalika has good brand1image. Dept. of Management, AIT. Page 46 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.12Table1showing awareness of Sonalika1dealers in market Aware of Sonalika1dealers in market? Responses %age Yes 68 68% Maybe 20 20% No 12 12% Analysis: We can1see,, 68% respondents are1aware of Sonalika dealers in the market, 20% respondents are1neither agree nor disagree and1remaining 12% are totally unaware dealers in market. Graph 4.12Graphshowing1awareness of Sonalika dealers in market awareness of sonalika dealers among respondents 80 68 70 60 50 40 30 20 20 no.ofrespondents 12 10 68% 20% 12% 0 Yes Maybe No Responses %age Interpretation: We can, conclude most respondents1are aware1of Sonalika dealers in market followed by respondents1who may or may not1aware of Sonalika1dealers in the market. Dept. of Management, AIT. Page 47 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.13Tableshowing customers1awareness towards dealers no. of Sonalika dealers you are aware with Responses %age 1 Dealer 27 27% 2 Dealers 35 35% 3Dealers 32 32% 4Dealers 6 6% 5Dealers 0 0% Analysis: 35% respondents are aware of12 dealers in the market, 32% respondents are1aware of 3 dealers, 27% respondents1are1aware of only 1 dealer and 6% are aware of 4 dealers in the market. Graph 4.13 Graphshowing1customers awareness towards dealers no. of dealers known to respondents 40 35 35 32 30 27 25 20 15 no.ofrespondents 10 6 4 5 5 2 3 1 0 27% 35% 32% 6% 0% 0 no. of sonalika dealers you are Responses %age aware with Series1 Series2 Series3 Series4 Series5 Interpretation:We can, conclude majority of the respondents1are1aware of only two dealers in the market followed by1respondents aware of 3 dealers. Dept. of Management, AIT. Page 48 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.14Tableshowingbehavior and1response of firm's staff Behavior and response of firm's staff or dealers toward customer's? Responses %age Informative 18 18% Communicative 12 12% Co-operative 26 26% Convincing 38 38% Careless 6 6% Analysis: We can1see,, 38%1respondents1found the behavior and response of the staff of dealer convincing, 26% found it co-operative, 18% found it informative, whereas 12% found it communicative and1remaining 6% found it careless. Graph 4.14Graphshowingbehavior and1response of firm's staff Behaviour and response of firm/dealer toward customers 40 38 35 30 26 25 20 18 15 12 10 no. respondents of 6 5 18% 12% 26% 38% 6% 0 Informative Communicative Co-operative Convincing Careless Responses %age Interpretation: We can, conclude majority of the respondents found convincing behavior of the staff towards customers which is followed by co-operative behavior of staff toward customers. Dept. of Management, AIT. Page 49 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.15Tableshowing satisfaction based on service provided by dealers Rate your satisfaction on service provided by dealers? Responses %age (Lowest) 1 0 0% 2 0 0% 3 4 4% 4 6 6% 5 2 2% 6 10 10% 7 40 40% 8 28 28% 9 8 8% (Highest) 10 2 2% Analysis: We can see,40% of the respondents rated 7 on 10 as their satisfaction from the service provided by dealers, 28% respondents rated 8 on 10, 10% respondents rated 6 on 10, 8% them rated 9 on 10, 6% rated 4 on 10, 4% rated 3 on 10 and 2% rated 2 on 10 & 9 on 10 each for the satisfaction level on service provided. Graph 4.15Graphshowing satisfaction based on service provided by dealers Satisfaction level based on service provided by dealers 45 40 40 35 28 30 25 20 15 10 10 8 9 8 10 6 7 6 4 5 4 2 3 2 2 5 1 0 0 0 Rate your satisfaction on service provided by dealers? Responses Series1 Series2 Series3 Series4 Series5 Series6 Series7 Series8 Series9 Series10 Interpretation: We can, conclude majority of the respondents gave 7 ratings out of 10 as their satisfaction from the service provided by dealers followed by respondent who gave 8 rating. Dept. of Management, AIT. Page 50 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.16Tableshowing mode of purchase By which mode of payment you would like to purchase tractor? Responses %age Cash 11 11% Credit 89 89% Analysis:We can see, 89% respondents purchase tractors on credit and only 11% purchase for cash. Graph 4.16Graphshowing mode of purchase Mode of purchase 100 89 90 80 70 60 50 40 30 no. respondents of 20 11 10 11% 89% 0 Responses %age Cash Credit Interpretation:We can, conclude most respondents prefer credit purchase of tractors, followed by respondents who purchase tractor on cash payment. Dept. of Management, AIT. Page 51 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.17Tableshowing sources of credit purchase of tractors source of finance Responses %age Sundaram Finance Group 3 3% Co-operative Bank loan 21 21% SBI agricultural loan 36 36% PNB agricultural 24 24% Mahindra finance 16 16% Analysis: We can see,,36% of the customers took credit from SBI Agricultural loan, 24% took loan from PNB agricultural loan, 21% took loan from co-operative bank, 16% prefer Mahindra finance and only 3% took loan under Sundaram Finance Group. Graph 4.17Graph showing sources of credit purchase of tractors Source of credit financing 40 36 35 30 24 25 21 20 16 15 10 3 no. respondents of 5 3% 21% 36% 24% 16% 0 Sundaram Finance Co-operative Bank SBI agricultural loan PNB agricultural Mahindra finance Group loan Responses %age Interpretation: Majority of1 respondents are1financed by SBI agricultural loans to buy tractors which are followed by1respondents took loan from PNB bank. Dept. of Management, AIT. Page 52 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.18Tableshowing satisfactiontowards financial institutes Are you satisfied with financial institutes? Responses %age Yes 80 80% No 20 20% Analysis: We can see,,80%1respondents1are1satisfied with the1financial institute from where they took loan for1purchase of tractor and 23%1respondents are1not satisfied with their financial institutes. Graph 4.18Graphshowing satisfactiontowards financial institutes satisfied with credit finance company 100 80 80 60 40 20 20 no. respondents of 80% 20% 0 Responses %age Yes No Interpretation:We can1conclude most of the respondents are satisfied with their finance company. Dept. of Management, AIT. Page 53 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.19Tableshowing brand aware among customers Brand you are most aware with? Responses %age Sonalika 25 25% Tafe 3 3% Swaraj 22 22% John Deere 18 18% Mahindra 15 15% Massey 17 17% Analysis: We can see, 25% respondents1are aware with1the brand1of Sonalika, 22% are aware of Swaraj, 18% are1aware of John1Deere, 17% are aware of Massey, 15% are aware of Mahindra and only 3% are1aware of the brand1of Tafe tractors. Graph 4.19Graphshowing brand aware among customers Brand you are aware with most 30 25 25 22 20 18 17 15 15 10 no. respondents of 5 3 25% 3% 22% 18% 15% 17% 0 Sonalika Tafe Swaraj John Deere Mahindra Massey Responses %age Interpretation: We can, conclude majority of the respondents are aware with Sonalika tractors most, followed by respondents aware of Swaraj tractor. Dept. of Management, AIT. Page 54 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.20Tableshowing brand prefer among customers Which brand tractor you prefer most? Responses %age Swaraj 30 30% Sonalika 36 36% Tafe 6 6% Mahindra 14 14% Massey 14 14% Analysis:We can see,365% respondents mostly prefer Sonalika tractors, 30% respondents prefer Swaraj, 14% respondents prefer Mahindra & Massey each and only 6% prefer Tafe tractors. Graph 4.20Graphshowing brand prefer among customers Tractor brand you prefer most 40 36 35 30 30 25 20 14 14 15 no. respondents of 10 6 5 30% 36% 6% 14% 14% 0 Swaraj Sonalika Tafe Mahindra Massey Responses %age Interpretation: We can, conclude majority of the respondents prefer Sonalika Tractors followed by respondents who prefer Swaraj. Dept. of Management, AIT. Page 55 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.21Tableshowingdifferentiation factors of Sonalika tractors Differentiation factors of Sonalika tractors Responses %age Price 35 35% Performance 31 31% Technical advancement 9 9% Mileage 25 25% Analysis: Here 35% respondents differentiate Sonalika tractors for price from others brands, 33% differentiate on performance basis, 25% differentiate on mileage basis and remaining 9% state technical advancement from other tractors. Graph 4.21 Graphshowing differentiation factors of Sonalika tractors On what basis doyou differentiate sonalika tractor from other brands 40 35 35 31 30 25 25 20 15 9 10 no. respondents of 5 35% 31% 9% 25% 0 Price Performsnce Technical advancement Mileage Responses %age Interpretation: Mostly respondents consider price of Sonalika tractors that differentiates it from other brands followed by performance of Sonalika tractor. Dept. of Management, AIT. Page 56 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.22Tableshowing promotional methods How do you come to know about Sonalika tractors? Responses %age Newspaper 21 21% Word of mouth 40 40% TV ads 9 9% Pamphlets 10 10% Company promotion 20 20% Analysis: We can see, 40% respondents came to know about Sonalika tractors from word of mouth, 21% come to know through newspaper, 20% respondents come to know through company promotion, 10% says they come to know through pamphlets and remaining 9% says they came to know about the brand from TV ads. Graph 4.22Graphshowing promotional methods How do you come to know about sonalika tractors 45 40 40 35 30 25 21 20 20 15 9 10 10 no. respondents of 5 21% 40% 9% 10% 20% 0 Newspaper Word of mouth TV ads Pamplets Company promotion Responses %age Interpretation: Word of mouth is the major factor that brings customer attention which is followed by newspaper advertisements. Dept. of Management, AIT. Page 57 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.23Tableshowinginfluencing factor before purchase of tractor What influence you to buy Sonalika tractors? Responses %age Self 32 32% Friends 49 49% Advertisement 10 10% Companies Goodwill 9 9% Analysis: Here 49% respondents were influenced by friends to buy Sonalika tractors, 32% respondents were self-influenced, 10% were influenced by advertisements and Company’s goodwill influenced remaining 9% respondents to buy Sonalika tractors Graph 4.23Graphshowing influencing factor before purchase of tractor What influence you to buy Sonalika tractor 60 49 50 40 32 30 20 10 no. responses of 9 10 32% 49% 10% 9% 0 Self Friends Advertisment Companies Goodwill Responses %age . Interpretation: Majority respondents were influenced by friends to buy Sonalika tractors followed by respondents were self-motivated to buy Sonalika tractors.. Dept. of Management, AIT. Page 58 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.24Tableshowing major consideration during purchase of Sonalika tractors Your consideration during purchase of tractor? Responses %age Price 32 32% Performance 25 25% After sale service 10 10% Easy EMI 11 11% Brand image 2 2% Mileage 20 20% Analysis: Here 32% respondents considered price of the tractors before buying it, 25% consider Performance, 20% consider mileage, 11% consider easy EMI, 10% consider after sale service and only 2% considered brand image while buying tractors. Graph 4.24Graphshowing major consideration during purchase of Sonalika tractors Your considration during purchase of Sonalika tractor 35 32 30 25 25 20 20 15 11 10 no. respondents of 10 5 2 32% 25% 10% 11% 2% 20% 0 Price Performance After sale service Easy EMI Brand image Mileage Responses %age Interpretation: We can, conclude price is the most important factor that people consider before buying a tractor, followed by performance. Dept. of Management, AIT. Page 59 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.25Tableshowing availability of after sale service in market Availability of after sale service Responses %age Yes 73 73% No 27 27% Analysis: Here 73% respondents found easy availability of after sales service and 29% could not find proper availability of after sale service. Graph 4.25Graphshowing availability of after sale service in market After Sale Service 80 73 70 60 50 40 30 27 no. ofrespondents 20 10 73% 27% 0 Responses %age Yes No Interpretation: Majority respondents are aware of availability of after sales services of Sonalika tractors remaining found improper availability of after sale service. Dept. of Management, AIT. Page 60 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.26Tableshowingrating on after sale service Ratingon after sale service Responses %age 1 6 6% 2 2 2% 3 4 4% 4 0 0% 5 0 0% 6 17 17% 7 36 36% 8 27 27% 9 6 6% 10 2 2% Here 1 is lowest and 10 is highest Analysis: Here 36% respondents rated 7 out of 10 of the after sales services offered by Sonalika tractors, 27% rated 8 out of 10, 17% rated 6 out of 10, 6% rated 1 out of 10 & 9 out of 10 each, 4% rated 3 out of 10 and 2% rated 2 out of 10 & 10 out of 10 each. Graph 4.26Graphshowingrating on after sale service 40 36 35 30 27 25 20 17 15 10 no. respondents of 6 6 4 5 2 2 6% 2% 4% 0 0% 0 0% 17% 36% 27% 6% 2% 0 1 2 3 4 5 6 7 8 9 10 RATING 1 TO 10 Responses %age Interpretation: Majority of respondents found after sales services by Sonalika tractors worth 7 out of 10 in ratings. Dept. of Management, AIT. Page 61 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.27Tableshowingdoes Sonalika dealers provide proper assistance during breakdown Does Sonalika dealers provide you proper assistance during breakdown? Responses %age Yes 68 68% No 32 32% Analysis: we can see, 68% respondents says Sonalika does provides proper assistance during break-down and 33% says it doesnot provide proper assistance during break-down. Graph 4.27Graphshowingdoes Sonalika dealers provide proper assistance during breakdown proper assistance during break-down by dealers 80 68 70 60 50 40 32 30 no. respondents of 20 10 68% 32% 0 Responses %age Yes No Interpretation: Majority respondents agree that Sonalika provides proper assistance during breakdown, followed by minority of respondents who says Sonalika does not provide proper assistance. Dept. of Management, AIT. Page 62 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.28Tableshowing company’s response on customer's complaints Companies response on customer's complaints Responses %age Excellent 6 6% Good 32 32% Average 52 52% Poor 10 10% Analysis: We can see, 52% of the respondents says company gives average response to customer complaints, 32% says companies response is good, 10% says companies response is poor and 6% of them says it gives excellent response. Graph 4.28Graphshowing company’s response on customer's complaints Companies rsponse on customer complaints 60 52 50 40 32 30 20 no. respondents of 10 10 6 6% 32% 52% 10% 0 Excellent Good Average Poor Responses %age Interpretation: Mostly respondents found Company’s response average toward customer complaints, followed by respondents who found it good. Dept. of Management, AIT. Page 63 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.29Tableshowingavailability of spare parts in your market Rating on availability of spare parts Responses %age (very low)1 6 6% (low) 2 6 6% (average) 3 12 12% (good) 4 42 42% (excellent) 5 34 34% Here 1 is Very poor and 5 is Excellent. Analysis: Here 42% respondents rated availability of spare parts of Sonalika tractors good, 34% rated it excellent, 12% rated it average and 6% rated low & another 6% rated very low. Graph 4.29Graphshowingavailability of spare parts in your market Avalibility of spare parts 45 42 40 34 35 30 25 20 15 12 no. respondents of 10 6 6 4 5 5 2 3 1 6% 6% 12% 42% 34% 0 1 2 3 4 5 avalibility of spare parts Responses %age Interpretation: We can, conclude majority of the respondents found availability of spare parts above average. Dept. of Management, AIT. Page 64 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.30Tableshowing which tractor would respondent buy other than Sonalika Which tractor would you buy other than Sonalika? Responses %age John Deere 31 31% Mahindra 20 20% Massey 19 19% Swaraj 22 22% Tafe 8 8% Analysis: We can, say31% of the respondents would buy John Deere other than Sonalika tractors, 22% are willing to buy Swaraj, 20% are willing to buy Mahindra, 19% respondents are willing to buy Massey and only 8% would buy Tafe tractors other than Sonalika tractors. Graph 30Graphshowing which tractor would respondent buy other than Sonalika Which tractor would you buy other than sonalika tractors 35 31 30 25 22 20 19 20 15 10 8 5 NO RESPONDENTS OF 31% 20% 19% 22% 8% 0 John deere Mahindra Massey Swaraj Tafe Responses %age Interpretation: We can, conclude majority of respondents would prefer to buy John Deere tractors other than Sonalika tractors, followed by the respondents who would buy Swaraj. Dept. of Management, AIT. Page 65 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.31Tableshowing rating on resale value of Sonalika tractors Rate resale value of Sonalika Responses %age (VERY LOW) 1 51 51% (LOW) 2 21 21% (AVERAGE) 3 19 19% (HIGH) 4 9 9% Analysis: We can see, there are 51% respondents who rated very low for the resale value of Sonalika tractors, 21% rated it low, 19% of them rated it average and only 9% rated high for resale value of Sonalika tractor. Graph 4.31Graphshowing rating on resale value of Sonalika tractors Rate re sale value of Sonalika tractors 60 51 50 40 30 21 19 20 9 no. respondents of 10 51% 21% 19% 9% 0 (VERY LOW) 1 (LOW) 2 (AVERAGE) 3 (HIGH) 4 Responses %age Interpretation: We can. conclude majority of the respondents rated the resale value of Sonalika tractors very low which is followed by respondent who rated it low. Dept. of Management, AIT. Page 66 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.32Tableshowing rating on performance of Sonalika tractors Rate performance of Sonalika tractors Responses %age very satisfied 12 12% satisfied 70 70% average 14 14% dissatisfied 4 4% very dissatisfied 0 0% Analysis: 71% of the respondents are satisfied with the performance of Sonalika tractors and 5.7% are dissatisfied with the tractors. Graph 4.32Graphshowing rating on performance of Sonalika tractors Rate performance of Sonalika tractors 80 70 70 60 50 40 30 no. respondents of 20 12 14 10 4 12% 70% 14% 4% 0 0% 0 very satisfied satisfied average dissatisfied very dissatisfied Responses %age Interpretation: Most of the customers are satisfied with the performance of Sonalika tractors. Dept. of Management, AIT. Page 67 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.33Tableshowing rating on feature of Sonalika tractors Rate feature of Sonalika tractors? Responses %age Very poor 4 4% Poor 6 6% Average 8 8% Good 68 68% Excellent 14 14% 1= very poor, 2 = poor, 3 = average, 4 = good, 5 = excellent Analysis: We can see, 68% of the respondents rated good for features of Sonalika tractors, 14% rated it as excellent, 8% rated as average, 6% rated as poor and 4% rated it very poor for the same. Graph 4.33Graphshowing rating on feature of Sonalika tractors Features Of Sonalika Tractors 80 68 70 60 50 40 30 20 14 no. respondents of 6 8 10 4 3 4 5 1 4% 2 6% 8% 68% 14% 0 1 2 3 4 5 Rate feature of sonalika tractors? Responses %age Interpretation: Here, we can1conclude majority of the respondents rated features of Sonalika tractors above average. Dept. of Management, AIT. Page 68 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Table 4.34Tableshowingimprovement for upcoming models Improvement looking for upcoming models? Responses %age Mileage improvement 48 48% Engine efficiency 16 16% Availability of accessories 14 14% lift capacity needs to improve 22 22% Analysis: We can see, there are 48% respondents looking for improvements in Mileage in Sonalika tractors, 22% need improvement in lift capacity, 16% are looking of better engine performance and 14% are looking for availability of accessories. Graph 4.34Graphshowingimprovement for upcoming models Improvements you are looking in new Sonalika models 60 48 50 40 30 22 20 16 14 no. respondents of 10 48% 16% 14% 22% 0 Mileage improvement Engine efficiency Availability of accessories lift capacity needs to improve Responses %age Interpretation: we can, conclude majority of the population are looking for improved mileage of Sonalika tractors, followed by respondent who are looking for improvement in lift capacity. Dept. of Management, AIT. Page 69 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. Statistical Test ANOVA Do you think Sonalika has good brand image Sum of Squares df Mean Square F Sig. Between .177 4 .044 .207 .934 Groups Within Groups 20.412 95 .215 Total 20.590 99 Interpretation: The above ANOVA table shows that there is no variation with respect to Annual Income and Brand Image of the company with significant value 0.934 which is more than 0.05. The Null should be accepted. The Brand Image of the company does not vary with Annual Income of the Customers. Irrespective of Annual Income, The Brand Image of the company is good. Dept. of Management, AIT. Page 70 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. CHAPTER 5 FINDING, CONCLUSION, SUGGESTIONS, RECOMENDATION Dept. of Management, AIT. Page 71 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 5.1 FINDING • 67% respondents are farmer by occupation. • Majority of respondents use Swaraj Tractors. • The corepurpose of buying tractors by the population is agriculture. • Majority of respondents prefers the price range of 4-5 lac rupees • Majority of respondents prefers 35-45 horsepower tractors. • Respondents are satisfied with the pricing of Sonalika Tractors. • Most of respondents are aware of Sonalika dealers, majorly aware of only two dealers in the market. • Most of respondents took help of credit system to buy tractors. • Price is the most significant factor that people consider before buying a tractor. • Most of respondent consider price of Sonalika tractors that differentiates it from other brands. • Tough competitor of Sonalika is Mahindra, Majority of respondents would prefer to buy Mahindra and John Deere tractors other than Sonalika tractors. • This shift in preference would happen due to average or < average resale value of tractor. • Majority of the population rated the resale value of Sonalika tractors average. • Majority of respondentslook for improved mileage of Sonalika tractors, farmers are expected mileage is 3-5 litter/hour where as Sonalika tractor give mileage of 4.5-7 litter as an average. Dept. of Management, AIT. Page 72 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 5.2 CONCLUSION Sonalika tractors have various advantages which make it better and compatible in the marketplace against its competitors, features as low cost products, high speed engine, low maintenance charges and easy availability are the center of attraction for Sonalika customers. As we know tractors are meant for doing various agricultural activities in different situations and in different types of land for number of purposes carried out by farmers. Thus Sonalika provide farmers with 19 different types of tractors in 5 ranges of horsepower which are fully compatible of doing number of specific jobs for farmers, like pulling heavy load, for cultivation of gardens etc. Majority of respondents are farmer and remaining are employees by occupation, also some of them are students, main purpose of buying tractors is agriculture. Swaraj Tractors acquire major market share, Mahindra group is leading the tractor market with their two different brand names tractors,i.e. Swaraj and Mahindra Arjun. Customers prefers the tractors with medium price range i.e. 4-5 lac rupees, company shouldprovide high performance tractors in this range or close to given range. Majorly preferred source of finance is SBI bank. Most of tractors are bought on credit basis (agricultural loan). Dealers should tie-up among various banks and private sources to provide most suitable source of finance to customers. Majority of the population prefers 35-45 horsepower tractors and dealers should provide proper assistance of and guidance to use tractor.Some of the dealers also provide demo tractor to customer to gain assurance and satisfaction of consumers. This method should be adopted by other dealers also which will help Sonalika dealers to promote their products and to gain higher share. Majority of respondents are looking for improved mileage of Sonalika tractors, farmers are expected mileage is 3-5 litter/hour where as Sonalika tractor give mileage of 4.5-7 litter as an average. Dept. of Management, AIT. Page 73 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 5.3 SUGGESTIONS/RECOMMENDATION • Sonalika dealers should also target potential business owners because of their cash purchasing ability. • Company should promote their tractors which cost 5-6 lac. • Company should promote its brand in market; respondent feels lack of good brand image. • Sonalika dealers should promote themselves to create aware of their presence in the market. • Sonalika should provide proper assistance to its customers about proper use of tractors; it can be made through demo before purchase and during breakdown of tractor after sales. • Need to provide training and motivation to the Sonalika dealers so they can communicate in an informative manner about their products rather than convincing customers by comparing to different brands. • Sonalika dealers should link with more number of financial institutes to provide better credit purchase options to customers. • Sonalika should work on technical advancement in tractors within 50 horsepower range. • Dealers should hired trained and skilledstaff for after-sale service of tractors. • Company should take customer complaints more seriously and on time. • Sonalika should crop up with effective strategic plan to compete with fast growing competitors; John Deere & Mahindra. 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WEBLIOGRAPHY: 1) http://www.sonalika.com 2) https://www.scribd.com 3) www.tmaindia.in ANNEXURE1 QUESTIONNAIRE I declared that this questionnaire is the partial fulfillment of the survey on topic customer satisfaction towards Sonalika tractors for the award of degree of Master of Business. Administration. I promise your personal information will be kept confidential. 1: What is your1qualification? a) 10th b) Pre-University c) Graduate d) Post Graduate 2: What is your1occupation? a) Farmer b) Business c) Job d) Students 3: Is this is your first tractors? a) Yes b) No 4: Which tractor are you using? a) Swaraj c) Ford e) Sonalika b) Mahindra d) John Deere f) other 5: Purpose of purchasing tractor? a) Agriculture b) Business 6: What is your annual Income of respondents? a) Below 3 lac c) 4-5 lac e) 6-7 lac b) 3-4 lac d) 5-6 lac f) above 7 lac Dept. of Management, AIT. Page 77 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 7: What price range do you prefer? a) 2-3 lac c) 4-5 lac e) 6-7 lac b) 3-4 lac d) 5-6 lac f) above 7 lac 8: How much horsepower do you prefer? a) < 30 hp c) 35-45 hp e) 46-55 hp b) 31-34 hp d) 46-55 hp f) >55 hp 9: Do you think Sonalika tractors are superior than other brand tractors? a) Yes b) No c) Maybe 10: Rate your satisfaction level based on Pricing of Sonalika tractors? a) Very Satisfied c) Average e) Very dissatisfied b) Satisfied d) Dissatisfied 11: Do you think Sonalika has good brand image? a) Yes b) No 12: Are you aware of Sonalika dealers in market? a) Yes b) No c) Maybe 13: Total number of dealers you are aware with? a) 1 Dealer c) 3 Dealers e) 5 Dealers b) 2 Dealers d) 4 Dealers 14: Behavior and response of firm's staff or dealers toward customer's? a) Informative c) Co-operative e) Careless b) Communicative d) Convincing 15: Rate your satisfaction based on service provided by dealers? a) 1 c) 3 e) 5 g) 7 i) 9 b) 2 d) 4 f) 6 h) 8 j) 10 1 = Lowest 10 = Highest Dept. of Management, AIT. Page 78 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 16: By which mode you would like to make payments? a) Cash b) Credit 17: What are the sources of credit for purchase of tractors? a) Sundaram Finance b) Co-operative Bank d) PNB Agricultural loan Group loan e) Mahindra Finance c) SBI Agricultural loan 18: Are you satisfied with financial institutes? a) Yes b) No 19: Which all brand tractors you are most aware with? a) Swaraj c) Tafe e) Sonalika b) Mahindra d) John Deere f) Massey 20: Which brand tractor you prefer most? a) Swaraj c) Sonalika e) Massey b) Mahindra d) Tafe 21: Differentiation factors of Sonalika tractors? a) Price c) Mileage b) Performance d) Technical Advancement 22: How do you come to know about Sonalika tractors? a) Newspaper c) TV ads e) Company Promotion b) Word of Mouth d) Pamphlets 23: What makes you buy Sonalika tractors? a) Self c) Goodwill e) Advertisement b) Company d) Friends 24: What are your major consideration during purchase of Sonalika tractors? a) Price c) After-sale service e) Brand Image b) Performance d) Easy EMI f) Mileage Dept. of Management, AIT. Page 79 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 25: Is there is availability of after sale service in your market? a) Yes b) No 26: Rate after sale service provider by your dealers? a) 1 c) 3 e) 5 g) 7 i) 9 b) 2 d) 4 f) 6 h) 8 j) 10 1 = lowest 10 = Highest 27: Does Sonalika dealers provide you proper assistance during breakdown? a) Yes b) No 28: Rate for company’s response on customer's complaints? a) Excellent b) Good c) Average d) Poor 29: Availability of spare parts in your market? a) Very poor c) Average e) Excellent b) Poor d) Good Here 1 is Very poor and 5 is Excellent 30: Which tractor would you buy other than Sonalika? a) Swaraj c) John Deere e) Massey b) Mahindra d) Tafe 31: Rate resale value of Sonalika? a) Very low c) Average b) Low d) High 32: Rate performance of Sonalika tractors? a) Very Satisfied c) Average e) Very dissatisfied b) Satisfied d) Dissatisfied Dept. of Management, AIT. Page 80 A Study on Customer Satisfaction Towards Sonalika Tractors, ITL 2018. 33: Rate feature of Sonalika tractors? a) Very Poor c) Good e) Excellent b) Poor d) Average 34: What all improvement you are looking for upcoming models? a) Mileage b) Engine efficiency c) Availability of accessories d) Lift capacity Dept. of Management, AIT. Page 81 A C II \ R Y.\ , 'i, f 11 l ·1 t: 01· ·1 J: C IJO '()L O GY I> \J' ,\I{ I \ 11 ' T OF MBA ACHARYA INTERNSHIP WEEKLY REPORT (15 JAN 2018 TO 24 MARCH 2018) Name of the Student: Harmandeep Singh Saini Internal Guide: Prof. Rakesh Nagaraj USN No: l AZ16MBA85 Specialization: Finance &Marketing Title of the Project: "A Study on Customer Satisfaction Towards Sonalika Tractors, Hoshiarpur." \\'ork Work Undertaken External Guide lntcrnal7 Signature Guide I Signature L -l I t 5/ l/20 I 8- Introduction aboutlnternational 20/1/2018 Tractors Limited and its operation ~\\ -ir- I 221112018- Lt•arning about different operation ~-\ ~ 1 27/1 /2018 and products I i-- ~ 29/1 /1018- Orientation amt Gathering r ~ . ' .,.. 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