Acknowledgements

Acknowledgements We would like to thank all the people who were involved with this project and whose support and encouragement helped us complete the project. Indeed working on this project has been a truly enriching experience for us as a team. We are extremely grateful to Professor K. J. Jaims for entrusting our group with this huge responsibility. We wish to express a profound sense of gratitude to Prof. Jaims for his generous suggestions and valuable insights, without which this project would not have been a success. We would like to thank Mr. Rashid, Bullet mechanic, Manipal for his help in providing the necessary impetus in the exploratory phase. We also wish to express our thanks to Mr. Imran Jeddy, Ms. Deepti Jacob, Mr. Arijit Bhattacharya, Mr. Sandeep Menon and Mr. Arun for their constant support and help in providing us invaluable data and insights during the exploratory phase of this project. Last but not the least, we would like to thank all the respondents and our team members who participated and contributed towards the successful completion of this project. Executive Summary Research Objectives The Research is aimed at the study of attitudes of Bullet Riders in Manipal. Bullet, or the Royal Enfield stable of motorcycles have been an iconic brand in India. Every year, they have sold modest numbers but despite low numbers, they continue to command a position of respect and awe in the Indian motorcycle market. The objective of the study was to establish a psychological and demographic profile of the Bullet Riders. Concise Statement of Method The Research was done in a number of Phases of study. An initial Focus Group Discussion was conducted online with members of Bullet Clubs from across the country. Each of these riders have more than 40,000 km to their credit and are respected across the country in the Bullet community. The findings from the FGD were taken into consideration to develop a questionnaire which was subsequently filled up by Bullet riders from Manipal and other cities of the country and also by Non-Bullet riders from Manipal. The data collected was analyzed both quantitatively and qualitatively to arrive at a representative customer profile for Royal Enfield motorcycles. Summary of Findings Despite our best efforts, we could collect data only from 17 Bullet riders and 20 users of other two-wheelers. We used Cluster Analysis, Multi-Dimensional Scaling, Factor Analysis for segregation of the collected data into identifiable attitude determining portions. From the study, we found that 1. Most Bullet riders exhibited Value-Expressive behavior while few others showed Ego-Defensive attitudes. 2. While there was a wide range of age groups and backgrounds for people who used Bullets and other RE motorcycles, most riders seemed to associate the motorcycle with a sense of freedom and respect. 3. Most people exhibited an internal locus of control, quite contrary to the macho strong-man image non-users held of the bike. 4. Most non-users turned out to be a price sensitive group with a slight tendency towards an Ego-Defensive attitude with respect to strength. 5. There was also a dismally low recall of advertising campaigns by the company. 6. Quite a few riders also expressed that they might be willing to pay a premium for the RE motorcycles as it is the feel of the bike and not the price that dictated their choice. 7. The customer is seen a male professional, around 25 years of age, with a strong internal locus of control. Conclusion 1. Bullet riders are mostly Value-Expressive, with an internal locus of control and a strong sense of independence. 2. The company has been cashing in on the iconic status it has and has done little to reinforce its image amongst an exploding two-wheeler market. 3. The pricing of the motorcycle might also be looked upon as conservative. Recommendations Royal Enfield has for a while now targeted the youth market with lure of freedom. However, they have done little to reinforce their position. Maybe advertising campaigns targeted at the Value-expressive customer would enable the brand to reap the benefits of its iconic position in a much more productive way. Also, most users find it imperative for the company to improve its After Sales Service and Spares availability. Table of Contents Introduction ................................ ................................ ................................ ................................ ...... 6 Indian automobile industry ................................ ................................ ................................ ............ 6 Indian two wheeler market ................................ ................................ ................................ ............ 6 Profile of the Organization ................................ ................................ ................................ ............. 8 Profile of the Products ................................ ................................ ................................ ................... 9 Rationale for the Project ................................ ................................ ................................ .............. 11 Objectives ................................ ................................ ................................ ................................ .... 13 Scope/Terms of References ................................ ................................ ................................ ......... 13 Definition of Constructs ................................ ................................ ................................ ............... 13 Internal Parameters ʹ Customer͛s Internal Locus of Control ................................ ..................... 14 External Parameters ʹ Influncers, Marketing and Company................................ ...................... 14 Research Methods and Procedures ................................ ................................ .............................. 15 Data Analysis and Findings ................................ ................................ ................................ ............... 17 Demographics ................................ ................................ ................................ .............................. 17 Occupation ................................ ................................ ................................ .............................. 17 Gender................................ ................................ ................................ ................................ ..... 17 Annual Income ................................ ................................ ................................ ......................... 18 Bike Ownership ................................ ................................ ................................ ........................ 18 Age ................................ ................................ ................................ ................................ .......... 19 Classification of Bullet riders and Non-Bullet riders based on Demographic Data ..................... 19 Quantitative Analysis ................................ ................................ ................................ ................... 21 Perception about Spare Parts Availability ................................ ................................ ................. 42 After Sales Service................................ ................................ ................................ .................... 42 Barriers of Purchase ................................ ................................ ................................ ................. 43 Media Habits................................ ................................ ................................ ............................ 43 Other findings ................................ ................................ ................................ .......................... 46 Qualitative Analysis................................ ................................ ................................ ...................... 48 Conclusion and Recommendations ................................ ................................ ................................ .. 50 Limitations ................................ ................................ ................................ ................................ ....... 51 References................................ ................................ ................................ ................................ ....... 52 Appendices͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙53 Questionnaire͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙͙..53 Introduction Indian automobile industry The automobile industry in India is the ninth largest in the world with an annual production of over 2.3 million units in 2008. In 2009, India emerged as Asia's fourth largest exporter of automobiles, behind Japan, South Korea and Thailand. India¶s automobile sector consists of the passenger cars and utility vehicles, commercial vehicle, two wheelers and tractors segment. The total market size of the auto sector in India is approximately Rs 540 billion and has been growing at around 8 percent per annum for the last few years. Since the last four to five years, the two wheelers segment has driven the overall volume growth on account of the spurt in the sales of motorcycles. However, lately the passenger cars and commercial vehicles segment has also seen a good growth due to high discounts, lower financing rates and a pickup in industrial activity respectively. Major automobile manufacturers in India

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