Consumer Perception About Hero Honda Bikes
I n d e x
Chapter No Subject Page No.
Chapter: -1 Industrial Back ground 1.1 Historical Industry Development 1.2 Introduction about company
Chapter:- 2 Concept of Consumer Behaviour. 2.1 Concept. 2.2 What is Consumer Behaviour? 2.3 Buying Behaviour Model. 2.4 A model of Consumer Behaviour. 2.5 The Birth of Buying idea. 2.6 Factors Influencing Consumer Behaviour. 2.7 Buying Decision Process.
Chapter: - 3 Questionnaire
Chapter:- 4 Data Interpretation and analysis
Chapter:- 5 Summary 5.1 Finding 5.2 Suggestion
Chapter:-6 Conclusion
ICFAI NATIONAL COLLEGE Page 1 Consumer Perception About Hero Honda Bikes
1.1 HISTORICAL INDUSTRY DEVELOPMENT
THE FIRST MOTORCYCLE "Who invented the first motorcycle?" It seems like a simple question, but the answer is a bit complicated. Just as the automobile was the answer to the 19th-century dream of self-propelling the horse-drawn carriage, the invention of the motorcycle created the self-propelled bicycle. Motorcycles are descendents of the "safety" bicycle-bicycles with front and rear wheels of the same size, and with a pedal crank mechanism to drive the rear wheel. Those bicycles, in turn, were descended from high-wheel bicycles. The high- wheelers were descended from an early type of pushbike, without pedals, propelled by the rider's feet pushing against the ground. These appeared around 1800, used iron-banded wagon wheels, and were called "bone-crushers," both for their jarring ride and their tendency to toss their riders. The first commercial design was a three-wheeler built by Edward Butler in Great Britain in 1884. It employed a horizontal single-cylinder gasoline engine mounted between two steerable front wheels and connected by a drive chain to the rear wheel. However, it would perhaps be incorrect to call it a precursor of the two- wheeled genre of vehicles.
The person credited with building the first motorcycle in 1885 is Gottlieb Daimler (who later teamed up with Karl Benz to form the Daimler-Benz Corporation). The gasoline-run vehicle had one wheel in the front and one in the back, with a smaller, spring-loaded outrigger wheel, on each side. Powered by a single-cylinder Otto-cycle engine, it may have had a spray-type carburetor also (since Daimler's assistant, Wilhelm Maybach was working on the invention of the spray carburetor at the time). The motorcycle was constructed mostly of wood, with the wheels being of the iron- banded wooden-spoked type, definitely a "bone-crusher" chassis!
If one counts two wheels with steam propulsion as being a motorcycle, then the first one may have been American. One such machine was demonstrated at fairs and circuses in the eastern United States in 1867, built by one Sylvester Howard Roper of Roxbury, Massachusetts. It was powered by a charcoal-fired two-cylinder engine, whose connecting rods directly drive a crank on the rear wheel. This machine predates the invention of the safety bicycle by many years; so, its chassis is also based on the "bone-crusher" bike.
ICFAI NATIONAL COLLEGE Page 2 Consumer Perception About Hero Honda Bikes
FURTHER DEVELOPMENTS Most of the development during the early phase concentrated on three- and four- wheeled designs since it was complex enough to get the machines running without having to worry about them falling over. The next notable two-wheeler was the Millet of 1892. It used a five-cylinder engine built as the hub of its rear wheel. The cylinders rotated with the wheel and its crankshaft constituted the rear axle.
The first successful two-wheeler, though, was the Hildebrand & Wolfmueller, patented in Munich in 1894. It had a step-through frame, with its fuel tank mounted on the down tube. The engine was a parallel twin, mounted low on the frame, with its cylinders going fore-and-aft. The connecting rods linked directly to a crank on the rear axle, and instead of using heavy flywheels for energy storage between cylinder firing, it used a pair of stout elastic bands, one on each side of the cylinders, to help out on the compression strokes. It was water-cooled, and had a water tank/radiator built into the top of the rear fender.
In 1895, the French firm of DeDion-Buton built an engine that was to make the mass production and common use of motorcycles possible. It was a small, light, high revving four-stroke single, and used battery-and-coil ignition, doing away with the troublesome hot tube. Bore and stroke figures of 50 mm by 70 mm gave a displacement of 138 cc. A total loss lubrication system was employed to drip oil into the crankcase through a metering valve, which then sloshed around to lubricate and cool components before dumping it on the ground via a breather. DeDion-Buton used this 0.5 hp power plant in road-going tricks, but the engine was copied and used by everybody, including Indian and Harley-Davidson in the U.S.
Although a person named Pennington built some machines around 1895 (it's uncertain whether any of them actually ran), the first US motorcycle was the Orient- Aster, built by the Metz Company in Waltham, Massachusetts, in 1898. It used an Aster engine that was a French-built copy of the DeDion-Buton, and predated Indian (1901) by three years, and Harley-Davidson (1902) by four. The Indian Motorcycle Company, Springfield, introduced the AV-Twin in 1903, updated with two- and three-speed gearboxes that were further refined with swing arm rear suspensions. The first motorcycle with electric start and a fully modern electrical system, the Hendee Special from the same company, astounded the industry in 1913. Before World War I, IMC was the largest motorcycle manufacturer in the world producing over 20,000 bikes per year.
INCREASING POPULARITY The popularity of the vehicle grew, especially after 1910. By 1900, many manufacturers were converting bicycles, or pedal cycles as they were sometimes called, by adding small, centrally mounted spark ignition engines. The need for ICFAI NATIONAL COLLEGE Page 3 Consumer Perception About Hero Honda Bikes reliable constructions led to road trial tests and competition between manufacturers. The original Tourist Trophy races were held on the Isle of Man in 1907 as reliability or endurance races. Such events have been the proving ground for many new ideas- from the early two-stroke-cycle designs to the supercharged, multi-valve engines mounted on aerodynamic, carbon fiber reinforced bodywork engines. In 1916, the Indian Motorcycle Company introduced the Model H racer, and placed it on sale at the astronomical price of $350. It featured overhead-valve heads with four valves per cylinder, and was easily capable of speeds of over 120 mph. In various forms, it was raced on the dirt track as well as on the boards with very great success. It is unknown how many of the 8-valve racers were manufactured, but production was very small indeed; most machines were ridden either by factory riders or were "loaned" to promising privateers. During World War I, all branches of the armed forces in Europe used motorcycles principally for dispatching. After the war, it enjoyed a sport vogue until the Great Depression began in 1929. After the World War II, a revival of interest in motorcycles lasted into the late 20th century, with the vehicle being used for high-speed touring and sport competitions. The more sophisticated motor scooter originated in Italy soon after World War II, led by the manufacture of a 125-cc model. Since then, an increasing number of powerful bikes have blazed the roads. During the 1950s, the practice of attaching auxiliary engines to bicycles in Western Europe and parts of the United States led to the development of a new type of light motorcycle, the moped. Originating in Germany as a 50-cc machine with simple controls and low initial cost, it was largely free of licensing and insurance regulations except in Great Britain.
ICFAI NATIONAL COLLEGE Page 4 Consumer Perception About Hero Honda Bikes
1.2 INFORMATION ABOUT COMPANY
HISTORY:- As we all know that the HERO HONDA is super hero of the current automobiles sectors undisputedly, they are the king of bike Market and this position is achieved by them in just one and a half decade and now it become “DESH KI DHADKAN”.
The birth of HERO HONDA become possible in 1983-84, when the world’s largest bicycle manufacturer’s think to enter into the two wheeler’s automobiles market which is still in the hands of BAJAJ.
What stand out as a joint venture between Hero group and Honda motors, company of Japan, is today the leading manufacturers of Indias largest selling motorcycle. Coming into existence on January 19, 1984. HERO HONDA Motors Ltd. gave India nothing less than a revolution on two wheels, made even more famous by the “Fill it- Shut it-forget it” Campaign. Driven by the trust of over 35 Lakes customers, the HERO HONDA products range today commands as much as 47% making it a veritable giant in the industry. Add to that technological excellence, expansive dealer network and retable after sales services becomes it a customer friendly company. The level of growth can be determined as per the company’s sales figure over the years.
Year No of units Manufactures 1985-‘86 43,000 1989-‘90 92.200 1998-‘99 5.30.600 1999-‘00 7.61.210 2000-‘01 10,29,555 2001-‘02 14,25,195
In fact every second bike sold in the India today is a HERO HONDA! Customer satisfaction, a high quality product. The strength of HONDA technology and the HERO group’s dynamism have helped Hitml scale new frontiers and exceed Limits.
In the words of “Mr. Brijmohan Lal Munjal the chairman and M.D.” we will continue to make every efforts required for the development technological innovation, investment in equipments and facilities and through elticient management.
ICFAI NATIONAL COLLEGE Page 5 Consumer Perception About Hero Honda Bikes
Milestones of the Company
Year Growth 12th Dec. 1983 Share holder’s agreements signed. 19th Jan. 1984 Company Incorporated. 24th Jan. 1984 Technical Collaboration signed. 13th Apr. 1984 Foundation stone laid.
27th May 1985 First model CD-100 Introduced. 27th May 1985 Frame plant production started. 27th Sept 1985 Dharuhera plant in augurated.
2nd March 1986 Quality circles launched.
7th April 1987 Engine plant stoned. 9th June 1987 1,00,000 Motor cycle Produced.
20th March 1988 Hero Honda club at Gurgaon started.
21st March 1989 Sleek Model Introduced.
29th May 1991 5,00,000 Motorcycle Produced. 11th Nov. 1991 Productivity Linked inactive started. 20th Nov. 1991 CD-SS Introduced. 19th Dec. 1991 Mobile clinic launched.
Nov. 1993 Hero Honda sponsors five nations Cricket tournament.
19th Jan. 1994 Splendor Model Introduced. 23rd Nov. 1994 1,00,000 Motor cycle Produced.
14th Feb. 1995 700 Motor cycle per day Production started. 1st Sept. 1995 800 Motor cycle per day production started.
10th Dec. 1996 1000 Motor cycles Production per day.
14th Jan. 1997 15,00,000 Motor cycle produced 23rd Jan. 1997 Street model Introduced. 26th Feb. 1997 Gurgaon plant inaugurated by Honda president.
17th April 1998 20,00,000 Motorcycle Produced. 27th Oct. 1998 Hero Honda sponsors Master golf champion ship at Delhi.
ICFAI NATIONAL COLLEGE Page 6 Consumer Perception About Hero Honda Bikes
25th March 1999 25,00,000 Motorcycle produced. 13th April 1999 CBZ launched. 14th May 1999 7th world cup cricket tournament sponsored at England.
25th June 1999 Environment Mgt. System of Dharuhera plant certified with ISO:14001 28th Oct. 1999 Hero Honda sponsors Master golf Championship at Delhi. 4th Jan. 2001 Passion Model Introduced 13th April 2001 Joy Model Introduced. 5,000,000th motorcycle produced
2002 New motorcycle model - "Dawn" introduced New motorcycle model - "Ambition" introduced Becomes the first Indian Company to cross the cumulative 7 million sales mark 2003 New motorcycle model - "CD Dawn" introduced New motorcycle model - "Splendor +" introduced New motorcycle model - "Passion Plus" introduced New motorcycle model - "Karizma" introduced New motorcycle model - "Ambition 135" introduced Crossed sales of over 2 million units in a single year, a 2004 global record New motorcycle model - "CBZ*" introduced Total sales crossed a record of 10 million motorcycles Hero Honda is the World No. 1 for the 4th year in a row New motorcycle model - "Super Splendor" introduced New motorcycle model - "CD Deluxe" introduced New motorcycle model - "Glamour" introduced 2005 New motorcycle model - "Achiever" introduced First Scooter model from Hero Honda - "Pleasure" introduced
2006 Hero Honda is the World No. 1 for the 5th year in a row
SHOW CASE
ICFAI NATIONAL COLLEGE Page 7 Consumer Perception About Hero Honda Bikes
1. CD-100:- This is the first model of the company and become very much popular and enjoys the image of long lasting and fuel-efficient bike. It is the originate “Fill it. Shut it, Forget it” bike.
2. Splendor:- This model had proven very much beneficial to the company. This becomes the world’s Largest selling mobike. It design, look, fuel efficiency makes it the dream bike.
3. Passion:- Passion, the styli designed bike for the stylish rider. Passion becomes the heartthrob of the youngsters. Passion and CBZ make the Hero Honda “DESH KI
DHADKAN” in real manner.
4. CBZ:- The powerful stylish and super pick up bike makes the people crazy about its riding. It creates new definition of motorcycling.
The other bikes of Hero Honda are Joy, CD-SS Sleek, Street, Dawn, and Ambition.
AWARDS
1. National Safety Award:- Hero Honda got national safety award for the Year 2000-’01.
2. National Productivity Award:- Hero Honda got the National Productivity award for the best performance in automobile sector even in the very sluggish condition of economy for the year 2000-’01.
3. Best Slogan Award:-
Hero Honda got the Best Slogan Award for its touching Slogan “DESH KI DHADKAN” for the year 2000-01.
ICFAI NATIONAL COLLEGE Page 8 Consumer Perception About Hero Honda Bikes
These are some decent awards which are collected by the Hero Honda Customer satisfaction is the biggest award for any company this can be the Hero Honda’s biggest strength that it has more than 35,00,000 satisfied customers.
Future of the Company:- Being a master of the automobiles sector HH is consistent with it’s amazing performance. Hero Honda has been a successful story in an otherwise dull market. Positing a over 1 million sales in the financial year 2001-’02 the company has out ridden all the players.
The company signed two of most popular celebrities. Hritik Roshan and Sourav Ganguly to be brand ambassadors. That should further help the (Both its) company in maintaining its following.
Both its duly launched models, the CBZ and Passion have received highly positive response and created new segment for the company so the future of two company seems very good and profitable.
List of group companies:- Hero Motors Hero Exports Hero Cycles Majestic auto Ltd. Munjal Showa Ltd. Gujarat Cycle Ltd. Hero Honda Motors Ltd. Hero Cycle Ltd. (Unit –2) Munjal and Sunbeam Castings High way cycle Industries.
IN PURSUIT OF EXCELLENCE "We, at Hero Honda, are continuously striving for synergy between technology, systems, and human resources to provide products and services that meet the quality, performance, and price aspirations of our customers. While doing so, we maintain the highest standards of ethics and societal responsibilities, constantly innovate products and processes, and develop teams that keep the momentum going to take the company to excellence in the new millennium".
ICFAI NATIONAL COLLEGE Page 9 Consumer Perception About Hero Honda Bikes
CONCEPT
Knowledge of the buying behaviour of consumer is essential for a market. The consumers bring the changes in the market. It is essential task for marketing behaviour of target Market.
The Consumer market consist the individual and household the buy goods and Services for personal consumption. It is attempted to understand and predict human actions in the buying role. It has assumed growing in the importance under Market Oriented or Customer Oriented working planning and Management.
Consumers very tremendously in age income adulation level and Preferences. Marketer finds it useful to distinguisia different consumer groups and to develop products and services tailored to their needs. Consumer behaviour always involves choice.
Buying behaviour includes acts of individual directly involves in obtaining and using economics Good and Services includes sequences of decision processes that proceed and determine these acts. Actual purchase is only a part of the decision process in buyers behaviour we consider not only why now and what people buy other factors. Such as where how offer and under in find analysis buyer is one of the most important keys to successful Marketing.
WHAT IS CONSUMER BEHAVIOUR
The wealth and services product in a country make an economy strong. Almost all the product which are available to buyer, have a number of alternative supplies that is suitable products are available to customers. Who make a decision to buy products? There fore, a seller most of his time seeks buyers and tries to please them. In order to successful, a seller is concerned with: Who is Consumer? What do Consumers buy? When do Consumers buy? How do Consumers buy? From where do Consumers buy? Why do Consumers buy?
A buyer makes a purchase of a particular product or a particular brand and this can be termed “Products buying Motives” and the reason behind the Purchase from particular Seller is “Patronage Motives”.
ICFAI NATIONAL COLLEGE Page 10 Consumer Perception About Hero Honda Bikes
The buyer may take a decision whether to save or spend the money. When he decision to spend them there are many problems as to what to purchase because needs are numerous. This leads to ranking the needs in terms of priority. Those the problems are consumption problems where to buy whom to buy etc.
A MODEL OF CONSUMER BEHAVIOUR
In earlier times Markets could understand consumers through the daily experience of selling to them. But the growth in the size of forms and Markets has removed many Marketing decisions from direct contract with customers increasingly; numbers have had to turn to consumer research. The Company that understands how Consumer will respond to different Product features, price, advertising appeals and so on will have an enormous advantage over the competitors. Therefore business and academic marketing researching have invested much energy in researching the relationship between marketing stimuli and Consumer’s response.
Marketing stimuli including Four P –– Products, Price, Place, and Promotion. Environmental stimuli consist economic technological political and cultural. All of these stimuli pass through the buyer’s black box and Produce the buyer Purchase decision shown. On the Product choice, brand choice, dealer choice, Purchase timing, Purchase amount. BUYING BEHAVIOUR MODEL
Out Side Stimuli Marketing Other Product Economic Price Technological Place Political Promotion Cultural
Buyer’s Black box Buyer Buyer Characteristics Decision
Buyer’s Response Products Choice Brand Choice Dealer Choice
ICFAI NATIONAL COLLEGE Page 11 Consumer Perception About Hero Honda Bikes
Purchase Amount Purchase Timing
THE BIRTH OF BUYING IDEA
Mr. Hiren owns a bike. The bike causing or dissatisfactions because of some defects or troubles in it. He decisions anticipates the idea of a troubles free and dependable bike. He decides not to buy a bike of the same make, because of dissatisfaction and lack of confidence. Thus a thought seed about a new bike is born in him, the movement he thinks. “I must replace the bike” the buying idea comes up with the thought in his mind, he thinks of the benefit, and this leads to future thinking what sort of a bike will give the benefit he wants. The benefits make two desires. He makes the desire. He may bike, which can give the desire benefit. He makes enquires an.
Observation through talking to his friends, he selects one or two possible bike. By this he wants to confirm his decision about the make he wishes to buy. He reads advertisement about the new bike. He chooses one with all the possible advantage and which is wholly dependable. Mr. Hiren is a prospective Customer to dealer.
FACTORS INFLUENCING CONSUMER BEHAVIOUR
Factor influencing the consumer behaviour are internal needs, motives, perception and attitude as well as external- family, social group, cultural, economic, business influences, etc. 1. Economics Factors. An economics factor of buying behaviour is undisplinary it assumes that Consumers are economics. When are they follow the principle of maximization of utility based on the low of diminishing Managerial utility. As economic when, consumer evaluations rationally the alternative in terms of cost and value received. They try to maximize their utility or satisfactory while spending them scarce resources of time, energy and money. 2. Psychological Factors Psychology has contributed much to the markers to understand the buyer’s psychology explains how consumers learn about a product and how they can recall from the memory. The development of buying habits, this includes the following factors:
a) Motive:- A buying motive is the reason why a person buys a particular products. It is the driving force behind buying behaviour and may be based on psychological or psychological want marketers are in rested in patronage motives such as store loyalty and brand loyalty. ICFAI NATIONAL COLLEGE Page 12 Consumer Perception About Hero Honda Bikes
b) Perception:- Perception causes the behaviour in a certain way perception influences this behaviour. It gives direction to the taken by the behaviour. It the meaning we have on the bases on our past dependence. c) Learning:- Learning refers to changes in behaviour brought about by practice or experience. Almost every timing one does or timing is learned product features such as price quality services, brand, packing, etc. Act as hints influencing consumer’s response. d) Attitude:- Attitude is a state of mind of fillings it includes a per disposition to behave in source way. Attitude core very important in explaining buyer’s behaviour. A change in attitude leads to changes purchasing attitude and modify buyer behaviour knowledge of consumer attitude can product redesigning packages and developing and evaluating promotional programs.
e) Personality:- In general perception attitude belief lead collectively to a consistent response by the individual to his environment. This consistent pattern or behaviour is termed as personality its primary teachers are self-concept role and level of consciousness.
3. Social Factors This includes the following factors:
a) Family:- Most consumers belong to a family group. The family can exert considerable influence in shaping the pattern of consumption and indicating the decision making role personal value attitude and buying habits have been shaped by family influences. b) Reference Group:- The small group to which the buyer belongs influence buyer behaviour. A human being is considered as a social animal spending much of his or her life in group situation, group norms direct attention of its member to a new style of a product.
c) Social Class:- As a predictor of consumption patterns marketing management is familiar with social classes consumers, buying behaviour is determined by the social class to which they cespires rather than by their income belong. Proudly speaking we have distant social classes’ upper, middle and lower classes usually stress
ICFAI NATIONAL COLLEGE Page 13 Consumer Perception About Hero Honda Bikes
rationality, exhibit sense of choice making whereas consumers of lower classes have essentially no rational purchases and show limited sense of choice making. The three social classes will have differences in the stress they patronize. The magazines they read and abutting and furniture they select social class may act as one criterion for market segmentation.
d) Culture:- A culture is as distinctive way of life of a group of people their complete design for living it is the man made pan or man’s environment the sum total of his knowledge. Belief morals customers. Art laws etc it includes the attitude and values of a whole society and affects the ways in which we do things, see tuniy, use things and judge things in every culture. European culture, American culture etc. Marketing strategies can developed for each culture separately.
ICFAI NATIONAL COLLEGE Page 14 Consumer Perception About Hero Honda Bikes
BUYING DECISION PROCESS The process consists include following step:
Recognition of an unsatisfied need
Identification of alternatives
Evaluation of alternatives
Purchase Decision
Post purchase decision
1. Recognition of an unsatisfied need:- When a person has an unsatisfied need the buying process begins to satisfy the needs generally the unsatisfied need leads to tension. The nature of the want indicates the speed with which a person moves to fulfill the unsatisfied want which is of high pressing need on the basis of need and its urgency forms the order of pointy.
2. Identification of Alternatives:- Different alternatives are available in the market the consumer must know the brand of the product which gives maximum satisfaction and the person has to source out for relevant information of the product brand location etc. 3. Evaluation of Alternatives:- This is a critical stage especially with regard to the costly items consumers have different alternatives. The attributes tastes color price durability etc. have different preference the marketers must understand this process. 4. Purchase Decision:- By considering the likes and dislikes of alternatives one is about to take a decision as to buy one will consider with reference to product type price quality etc. A seller can facilitate such consumers to understand the products through advertisements. 5. Post Purchase Decision:- Feedback information is important as for as a seller is concerned. A brand preference maturely repeats sales to a marketer. A satisfied buyer is a silent advertisement. A satisfying dependence of a buyer tends to strengthen the brand preference.
ICFAI NATIONAL COLLEGE Page 15 Consumer Perception About Hero Honda Bikes
Questionnaire
THE RESEARCH FOR CONSUMER PERCEPTION ABOUT PURCHASING HERO HONDA BIKES
Name:______Address:
Gender: Male Female Age: Phone no:
Education:
Attended school Std 12 Attended college Graduate Post Graduate
Occupation:
Student Executive Industrialist House wife Business men Service Professional Trade shop own other
1) Which two wheeler motor cycle company you aware that presently available in the Market?
a) b) c) d) e) f)
2) Will you /Do you want to purchase any HERO HONDA Bike?
Yes No
3) If yes, than which model do you purchase?
CD-Deluxe CD-Dawn CBZ Splendor Passion Karizma Ambition Glamour
4) Have you planed to purchase any other Bike?
Yes Please Mentioned Company name
No then planning for four wheeler
ICFAI NATIONAL COLLEGE Page 16 Consumer Perception About Hero Honda Bikes
5) How did you come to know about this HERO HONDA Bike?
News paper Hoarding Magazine Advertising Television Showroom banner On road Friend/Relative
6) On which specific occasion did you purchase HERO HONDA two-wheeler Bike?
On festival Get promotion Bike required On birthday When you start job when you go married
7) Who promotes you to purchase this HERO HONDA Bike?
Family member Relative Friend For other
8) Do you considered any consumer incentive before purchasing HERO HONDA Bike?
Yes No
9) What important criteria you considered while purchasing the HERO HONDA Bike? (Multi tick mark)
Price Average Pick up Design Company image Maintenance CC of engine
10) Main reason for you to selecting this particular model? (Rank any five in ascending order)
Good looks/ stylish Reasonable price Low maintenance cost Auto Start Fuel efficiency Engine capacity Pick up
11) You had to purchase your Bike on?
Cash basis Corporate buying Loan from bank Loan from financial institute
12) From where you will purchase your Bike?
Shivani motors Dhru motors Siddhi automobiles ICFAI NATIONAL COLLEGE Page 17 Consumer Perception About Hero Honda Bikes
13) You will use this Bike mainly for? (Multiple Tick mark)
Going with family Going to college Travelling for field work Community work
14) Any comments or suggestion.
______
ICFAI NATIONAL COLLEGE Page 18 Consumer Perception About Hero Honda Bikes
Que: 1 Objective: To know Brand Awareness of Hero Honda Motorcycles.
BRAND AWARENESS Brand No. of Respondent % Hero Honda 100 100% Bajaj 100 100% Suzuki/Tvs 95 95% LML 92 92% Escort 85 85% Other 90 90%
Interpretation: Bran awareness is an important factor now days. Hero Honda and Bajaj have a 100% brand awareness which is become competitive advantage for them. Other Bike manufacturer has slight less brand awareness which they can increase by promotional activities and quality service.
ICFAI NATIONAL COLLEGE Page 19 Consumer Perception About Hero Honda Bikes
Que: 2 Objective: To Know Future Purchaser of Hero Honda Motorcycles.
Detail No. of Respondents Percentage Yes 65 65% No 45 45% Total 100 100%
Interpretation: 65% of respondents want to purchase Hero Honda Bikes in future. It means Hero Honda has a good future aspects and can sell more bikes than competitors mainly Bajaj. 45% of respondents don’t want to Hero Honda Bikes, and they prefer other bikes. Hero Honda can attract those customers by providing them other benefits.
ICFAI NATIONAL COLLEGE Page 20 Consumer Perception About Hero Honda Bikes
Que: 3 Objective: To know which model of Hero Honda bikes, he/she wants to purchase. Model No. of Respondents % CD-Deluxe 7 10.76% CD-Down 3 4.61% Splendor 18 27.69% Glamour 7 10.77% Passion 19 29.23% CBZ 8 12.31% Karizma 2 3.07% Ambition 1 1.54% Total 65 100.00%
Interpretation: From the above chart, we conclude that consumer purchase passion and splendor bikes. After, that CBZ comes which is stylish and powerful bike, more preferred by youngsters. Other Bikes have not much demand because CD-Deluxe and CD-Dawn are for lower middle class and Karizma is for Higher Upper class bikes. Glamour and Ambition fails in Market and have not much demand and company introduce new model of glamour which increase the glamour demand to around 11%.
Que: 4
ICFAI NATIONAL COLLEGE Page 21 Consumer Perception About Hero Honda Bikes
Objective: To know future demand for other bikes manufacturer.
Brand No. of Respondent % Bajaj 27 60% Suzuki/Tvs 8 17.78% LML 3 6.66% Escort 2 4.44% Other 5 11.11% Total 45 100%
Interpretation: In other company’s Bike purchaser, most share (60%) is covered by Bajaj Auto which has also 100% brand awareness and a major competitor of Hero Honda. Other bike manufacturers are having very less percent of future prospects and they have to come with good quality consumer preferred bikes to compete in the market.
Que: 5 Objective: To know the media by which consumer come to know about bikes.
ICFAI NATIONAL COLLEGE Page 22 Consumer Perception About Hero Honda Bikes
Media Preferred by Respondents Media No. of Respondents % News Paper 19 19% Hoarding 6 6% Magazine 3 3% Television 22 22% Showroom Banner 7 7% On Road 18 18% Friend/Relative 25 25% Total 100 100%
Interpretation: Most important media by which consumers come to know about Bikes are television and News Papers with 22% and 19% respectively. They are most effective source to advertise and promote new and existing models of bikes for Hero Honda and other Bike Manufacturer.
Que: 6 Objective: To aware about the time which customer uses to purchase Bike.
ICFAI NATIONAL COLLEGE Page 23 Consumer Perception About Hero Honda Bikes
Time No. of Respondents % On Festival 18 18% Get Promotion 11 11% Bike Required 41 41% On Birthday 6 6% When you start job 16 16% When you go married 8 8% Total 100 100%
Interpretation: Most peoples purchase bikes when they have needed to purchase Bike. Many people purchase bikes when they start job (16%) or get promotion in job (11%). On festival also many consumer purchase bikes to take advantages of promotional offers.
Que: 7 Objective: To know that who affects the most while taking the purchase decision.
ICFAI NATIONAL COLLEGE Page 24 Consumer Perception About Hero Honda Bikes
Detail No of Respondents Percentage Family Member 30 30% Friends 25 25% Relatives 15 15% Show Room/ Dealer 10 10% Past Users 20 20% Total 100 100%
Interpretation: In purchasing decisions many peoples take part especially in the cases of costly and durable product like Bike. Many people affect the consumers’ decision of purchase. In those family members (30%), friends (25%), Past Users (20%), Dealers (10%), and relatives (15%) affect the consumers’ decision.
Que: 8 Objective: To aware about the effect of promotional scheme on consumer.
ICFAI NATIONAL COLLEGE Page 25 Consumer Perception About Hero Honda Bikes
Affect by Incentives No. of Respondents Percentage Yes 85 85% No 15 15% Total 100 100%
Interpretation: As per above chart, consumers are purchases bikes when they get promotion incentives for purchasing Bikes. 85% of consumers affect by the promotional schemes and incentives and purchase bike when they get more incentives. 15% of consumers are not wait for incentive scheme and make purchase of Bike without any incentive expectation.
Que: 9 Objective: To aware about the purchasing criteria for purchasing Hero Honda Bike.
ICFAI NATIONAL COLLEGE Page 26 Consumer Perception About Hero Honda Bikes
Criteria No. of Respondents Percentage Prices 14 14% Average 23 23% Pickup 18 18% Design 9 9% Company image 17 17% Maintenance 12 12% CC of Engine 7 7% Total 100 100%
Interpretation: While purchasing bike, consumers considers a number of criteria’s such as price, average, company image, maintenance cost, etc. Average is most important criteria for purchase bike with 23%, after that comes company image (17%), Pick up (18%) and price (14%).
Que: 10 Objective: To know the reason for purchasing Hero Honda Bike. Reasons No. of Respondents Percentage
ICFAI NATIONAL COLLEGE Page 27 Consumer Perception About Hero Honda Bikes
Good looks/ stylish 13 13% Reasonable price 26 26% Low maintenance cost 11 11% Fuel efficiency 19 19% Auto Start 15 15% Engine capacity 9 9% Pick up 7 7% Total 100 100%
Interpretation: As above mentioned consumer looks for many things before purchasing Bike. 26% of consumer looks for reasonable price bike, while 19% of consumer looks for fuel efficient bike. 15% want Auto start bike and !3% want stylish bike. 11% have low maintenance cost is important whereas 9% shows engine capacity and 7% shows pick up of Bike.
Que: 11
Objective: To aware purchase pattern of consumer of hero Honda Bikes.
Detail No. of Respondents Percentage
ICFAI NATIONAL COLLEGE Page 28 Consumer Perception About Hero Honda Bikes
Cash Basis 54 54% Loan from Bank 26 26% Loan from financial Institute 15 15% Corporate Buying 5 5% Total 100 100%
Interpretation: Purchase pattern is important factor for bike dealers as many people wants purchase bike with cash whereas many purchase with loan from bank or financial institute and take advantage of installment payment. Here more respondents want to purchase with cash (54%).
Que: 12 Objective: To know the location from which consumer purchase Hero Honda Bikes.
ICFAI NATIONAL COLLEGE Page 29 Consumer Perception About Hero Honda Bikes
Show Rooms No. of Bike Purchased Percentage Shivani Motors 24 24% DhruAuto 47 47% Siddhi Auto 29 29% Total 100 100%
Interpretation: Consumer purchase from the location which is more benefited to him such as near to house or more quality after sales provides. 47% of Hero Honda Bike consumer of Surat City purchases bikes from the DhruAuto whereas 29% from Siddhi Auto and 24% from Shivani motors.
Que: 13 Objective: To aware about the purpose of Bike purchased by the consumer of Hero Honda.
ICFAI NATIONAL COLLEGE Page 30 Consumer Perception About Hero Honda Bikes
Detail No. of Respondents Percentrage Going with Family 24 16.78% Going to College 17 11.89% Traveling for field work 47 32.87% Community work 55 38.46% Total 143 100.00%
Interpretation: Bikes are useful for many purposes such as for go to office, college and other places. Hero Honda purchaser use bikes most frequently for community work (38%) and office use (32%). Consumer purchase bike for college going use is 17%.
Finding:-
ICFAI NATIONAL COLLEGE Page 31 Consumer Perception About Hero Honda Bikes
1. About 22%, 19%, 25%, Respondents are come to know about the Hero Honda from Television, News Paper and Friend/Relatives.
2. The Criteria of Select the Hero Honda Motorcycle the Most of the Service man Trade shop Owner and Business man the give the importance of the Average Pick up and Price and also maintenance consideration.
3. About 28%, 30%, 12%, respondents will purchase splendor, Passion and CBZ respectively produced by the Hero Honda Company.
4. About 60%, respondents will Purchase a Bajaj Motorcycle, 18% respondents will purchase a Suzuki / TVS Motorcycle and 11% respondents will Purchase other Bikes if they won’t purchase Hero Honda.
5. Most of Respondents Purchase a Motorcycle on bike required and festival and students preferred it to buy when they start Job.
Suggestions
ICFAI NATIONAL COLLEGE Page 32 Consumer Perception About Hero Honda Bikes
1. Hero Honda co. is suggested to make improvement in their vehicle considering the C.C. and Maintenance cost occur after sales.
2. Company and dealer are suggested to concentrate on advertising print Media like Hoarding, Magazines, and adverting Banner. So it can help both them to increases their sales.
3. No. of Competitors entered in the market so Consumers are sifting towards others. So, company is suggested to more concentrate on consumer by creating more dealers in city. Dealers are advise to provide better quality after sales service to retain consumer and for mouth publicity.
4. The company should come out with its own financial company and provide attractive finance like Low down payment, low rate of interest to attract customers.
Conclusion
ICFAI NATIONAL COLLEGE Page 33 Consumer Perception About Hero Honda Bikes
After the completing my research on the topic of “The research of consumer Perception About purchasing Hero Honda Bike” it concluder that Customer satisfaction is the one major part of the buying behaviour consumer needs arise time to time and its changes time to time.
Company has to Build strong brand awareness and credibility among its customers.
It is good for Hero Honda that majorities of people are aware about its brand that Hero Honda has earned enough to keep conditions contact with customer market and to constantly carry out R & D in production of two wheeler and marketing the same to the different destination. They try to produces such vehicles that attract the customer.
ICFAI NATIONAL COLLEGE Page 34