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PROSPECTING OF MUV’S MARKET POTENTIAL IN INDIAN AUTOMOBILE INDUSTRY Submitted by Visal Varghese Register No: 1020239 Under the Guidance of Prof Divakar G.M Associate Professor Dept. of MBA, Christ University, Bangalore A Thesis Submitted in Partial Fulfilment of the Requirements for the Award of the Degree of Master of Business Administration Bangalore, India 2012 DECLARATION I, Visal Varghese, hereby declare that the dissertation entitled Prospecting Of MUV’s Market Potential In Indian Automobile Industry has been undertaken by me for the award of Master of Business Administration. I have completed the study under the guidance of Prof Divakar G.M, Associate Professor, Dept. of MBA, Christ University, Bangalore. I also declare that this dissertation has not been submitted for the award of any Degree, Diploma, Associate ship or Fellowship or any other title in this University or any other University. Place: Bangalore Visal Varghese Date: 29/02/2012 Register No: 1020239 ii CERTIFICATE This is to certify that the dissertation submitted by Visal Varghese on the title Prospecting Of MUV’s Market Potential In Indian Automobile Industry is a record of research work done by him during the academic year 2011-2012 under my guidance and supervision in partial fulfilment of the requirements for the award of the degree of Master of Business Administration. This dissertation has not been submitted for the award of any Degree, Diploma, Associate ship or Fellowship or any other title in this University or any other University. Place: Bangalore Prof Divakar G.M. Date: 29/02/2012 iii ACKNOWLEDGEMENT I am indebted to many people who helped me complete this dissertation. First, I thank the Vice-Chancellor Dr. (Fr.) Thomas C. Mathew and Pro Vice-Chancellor Dr. (Fr.) Abraham V.M of Christ University for giving me the opportunity to do this research. I thank Fr. Thomas T. V., Director, Christ University Institute of Management for his kind support. I thank Prof Divakar G.M. for his support and guidance during the course of my research. I remember him with much gratitude for his patience and motivation, but for which I could not have submitted this work. I thank my parents for their blessings and constant support, without which this dissertation would not have seen the light of day. Visal Varghese iv TABLE OF CONTENTS DECLARATION ii CERTIFICATE iii ACKNOWLEDGEMENT iv TABLE OF CONTENTS v LIST OF TABLES vii ABSTRACT viii CHAPTER 1 INTRODUCTION 1.1 PROJECT TITLE 2 1.2 SCOPE OF RESEARCH 2 1.3 OBJECTIVE OF THE RESEARCH 3 1.4 RESEARCH METHDOLOGY 3 1.5 SIGNIFICACE OF RESEARCH 4 CHAPTER 2 REVIEW OF LITERATURE 2.1 INTRODUCTION 6 2.2 IMPORTANCE OF REVIEW OF LITERATURE 6 2.3 HOW THE LITERATUE REVIEW HAS BEEN DONE 6 2.4 WORK DONE 7 CHAPTER 3 RESEARCH METHODOLOGY 3.1 PROBLEM STATEMENT 18 3.2 SCOPE OF THE RESEARCH 18 3.3 OBJECTIVES OF RESEARCH 18 3.4 DATA COLLECTION 18 3.5 TARGET PROFILE 18 v 3.6 SAMPLE SIZE 18 3.7 SAMPLING METHOD 19 3.8 FORMULATION OF HYPOTHESIS 19 3.9 DATA ANALYSIS 19 3.10 VARIABLES OF THE RESEARCH 20 3.11 LIMITATIONS OF THE RESEARCH 21 3.12 SCHEMATIC REPRESENTATION OF THE RESEARCH DESIGN 22 CHAPTER 4 INDUSTRY PROFILE 4.1 OVERVIEW OF INDIAN AUTOMOBILE INDUSTRY 24 4.2 MULTI UTILITY VEHICLES 30 4.3 MULTI UTILITY VEHICLE MODELS 31 4.4 MULTI UTILITY VEHICLE STATISTICS 32 CHAPTER 5 DATA ANALYSIS AND INTERPRETATION 5.1 QUESTIONNAIRE ANALYSIS 35 5.2 RESEARCH HYPOTHESIS AND USE OF STATISTICAL TOOLS 49 5.2.1 FACTOR ANALYSIS 49 5.2.2 REGRESSION AND ANNOVA TABLE - I 53 5.2.3 REGRESSION AND ANNOVA TABLE - II 55 CHARTER 6 FINDINGS AND CONCLUSION 6.1 FINDINGS 58 6.2 CONCLUSION 58 BIBLIOGRAPHY 59 ANNEXURE 61 vi LIST OF TABLES SL NO: PARTICULARS PG NO: Table 4.1 : Total Production of Passenger Vehicles in India 27 Table 4.2 : Segment Wise Share in Production of Passenger Vehicles in India 27 Table 4.3 : Total Sales of Passenger Vehicles in India 27 Table 4.4 : Segment Wise Share in Sales of Passenger Vehicles in India 28 Table 4.5 : Company Wise Production of Mid-Size Cars in India 28 Table 4.6 : Company Wise Share in Production of Mid-Size Cars in India 29 Table 4.7 : Company Wise Sales of Mid-Size Cars in India 29 Table 4.8 : Company Wise Share in Sales of Mid-Size Cars in India 30 vii ABSTRACT Multi-utility vehicles (MUVs) as the name suggest, are the vehicles with multi usage capabilities. Popular especially with the large families, the concept of a multi-utility vehicle no doubt has many takers in India. That is why, all the leading automobile players in India, including the indigenous ones such as the Tata Motors, Hindustan Motors, Mahindra & Mahindra (M&M) as well as the foreign ones expanding their presence, are all in the MUV segment of Indian automobile market Prospecting market potential of such a category of automobiles in India is very essential as the market is now lean towards more use of family cars than using for individual purpose. With the auto customers going for a family vehicle demanding more space and comfort rather than the performance and other utilities along with the price affordability MUV has been always in the top of customer mind space when looking for a family vehicle. As the segment is only newly formed in India with only few players like Toyota Innova, Tata Aria, Mahindra Xylo etc, there’s a need of market research which can capture the customer wants and demands also perceptions. The factors and the various attributes of the automobile which influences and motivates the customer is the prime area of research Primary research was done through questionnaire, for which the response was collected from the prospective customers of MUV. The results are recorded through Google docs. Results are interpreted using MS Excel and SPSS software, using various statistical tools like Annova Table, Regression and Factor Analysis Research had given the results which were helpful and useful in prospecting future potential of MUV’s in India. Personal experience being the influencing factor in making a decision on Family vehicle and Passenger space the motivating factor for the customer to buy a MUV were the research conclusions. viii CHAPTER 1 INTRODUCTION 1 Multi-Utility vehicle (MUV) or Multi-purpose vehicle (MPV) is a type of vehicle which has a body that resembles a van, but which has rear side doors, rear side windows, and interior fittings to accommodate passengers similar to a station wagon. MUVs are higher than normal sedans, compacts and station wagons, and are designed for maximum interior room; minivans often feature three seat rows and can seat 7 people or more. The very first MUV was known as the Brubaker Box. This was a custom car designed in 1972 and produced in limited numbers by Curtis Brukbaker, a designer and car enthusiast. It was built on the Volkswagen Beetle chassis and included an original fiberglass body. There was a sliding door on the passenger-side of the vehicle. MUVs in the Asian market In the ASEAN nations and India, because of the wide geography of the region, MUVs tend to be smaller cars that can cope with uneven terrain. Among these MUVs are the Chevy Tavera, Toyota Innova,Tata Aria Mahindra Xylo and Sumo Grande In the ASEAN nations and India, MUVs vary widely in configuration. Whilst some MUVs might be carbon-copys of MPVs in Europe (such as the European Ford Fusion) or even minivan-looking (like the Toyota Innova), in some cases MUVs are similar to minibuses (such as the Chevrolet Tavera and the Maruti Versa) 1.1 PROJECT TITLE Prospecting Of MUVs Market Potential in Indian Automobile Industry 1.2 SCOPE OF RESEARCH The study will provide an insight into the most potential automobile segment of Indian market: MUVs. From the study it is possible to extract the data which is relevant for prospecting the potential in the Indian market for the MUVs in future as per the customer sees the particular segment 2 1.3 OBJECTIVES OF THE STUDY To find the consumer perception on the buying behaviour of MUV segment in India To study the attributes and the factors which influences the buying nature Family vehicle of the customers in India To determine the motivating factor that contribute for the purchase decision of MUV in India To find the future market potential of the MUVs in India based upon the survey 1.4 RESEARCH METHDOLOGY Why is the research being made? MUV being one of the high selling automobile segment in India, a deep study is essential for knowing the factor that influence the decision making of the family vehicle. Its also essential that the automobile manufactures know the motivating factor that brings the customers towards the MUV as a choice for the automobile over the other segments like SUV, Sedan, hatch back, premium sedan etc. The factors and the effect of factors on the purchase decision making can also be a great insight to automobile companies What is the research about? Research is about prospecting the MUV market potential in India. Where will the research be carried out? The study will be conducted in banks with in Bangalore, Karnataka. What type of data is required? Primary data will be required which will be obtained by using questionnaires from prospective customers. Secondary data will be also used for the purpose of the study other data which will be obtained from CMIE data base and PROVESS.

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