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SUMMER TRAINING REPORT ON CUSTOMER MAPPING A SURVEY OF INDUSTRIAL CUSTOMER OF LUDHIANA (TOWARDS CARS) Undertaken at PRESTIGE MOTORS LTD. LUDHIANA In Partial Fulfillment of Masters of Business Administration At GURU NANAK DEV ENGINEERING COLLEGE, Ludhiana. Submitted to: Submitted By: BHUPINDER SINGH BAWA VIJAY KUMAR (AGM) ROLL NO 80101317057 PRESTIGE MOTORS MBA (2008-2010) 32 ACKNOWLEGEMENT “When you give yourself, you receive more than you give.” The concepts learnt in academics are of no importance until they are practically applied. In today’s world it is imperative for the students of any Post- Graduate course to keep pace with the changing technology innovations taking place across the world. In alignment with this, I prepared a Summer Report after my 2nd semester of MBA. I would like to express my sincere gratitude to Mr. Bhupinder Singh Bawa (AGM – Prestige Motors) for giving me the opportunity to work with his esteemed organization. I would like to thank Mrs. Sonia Sharma (Sales Executive) for giving me product knowledge and their valuable support throughout the project. It was very enriching and enlightening experience to work under their valuable guidance. Without their support this project would not have been possible. I would also like to thank my parents and friends those who have given their support & contribution, whenever required. Finally and most important I would like to thank to faculty of GNDEC (Especially to Prop. Parampal Singh) to provide me with such an opportunity that has enhanced my learning horizon Last but not least, I thank the almighty, and may he stand with all of us. VIJAY KUMAR 32 PREFACE The project is based on the Customer profile and mapping to understand the consumer behavior regarding automobile sector. The project took 6 weeks for completion. The main motive of project report was to enhance my expertise and extensive knowledge I gained through my course, by applying it practically to the market of automobile Ludhiana. The project has been completed by collecting the primary data by interviewing the various industrialist of Ludhiana. Secondary data was also used as per the availability from different sources. In all the study was to find out at which geographical area the potential customer may exist and also to study the consumer behavior regarding automobile sectors. During the project, I learnt the procedures and various other aspects of marketing of automobile by applying theoretical knowledge and concepts to the best. Needless to say, errors and omissions are bound to occur. Last but not the least, I am grateful to all those who happened to be a part of the successful completion of this Project and my mind and heart for going hand in hand! Vijay Kumar 32 CONTENTS Page no. Chapter1 INTRODUCTION TO THE PROJECT 6 EXECUTIVE SUMMARY 7 INTRODUCTION TO AUTOMOBILE HISTORY 12 Chapter2 INTRODUSTION TO VOLKSWAGEN GROUP 16 HISTORY OF VOLKSWAGEN 20 NINE AUTOMOTIVE COMPANIES OF VOLKSWAGEN 27 ACHIEVEMENTS OF VOLKSVAGEN 31 Chapter3 VOLKSWAGEN IN INDIA 35 INTRODUCTION TO PRESTIGE MOTORS 39 PRODUCT PROFILE FOR MODELS AVAILABLE IN INDIA 42 Chapter4 OBJECTIVES O F THE STUDY 48 RESEARCH METHODOLOGY 49 ANALYSIS 55 Chapter5 CONCLUSION 65 LIMITATIONS 66 RECOMMENDATION 67 QUESTIONAIRE 68 BIBLIOGRAPHY 71 32 32 INTRODUCTION TO THE PROJECT The project title is “CUSTOMER PROFILE AND MAPPING TO UNDERSTAND THE CONSUMER BEHAVIOUR REGARDING AUTOMOBILE SECTOR Customer mapping is also known as geographical market analysis and it is the Easiest Way to Identify Where Your Customers Come From and Who They Are. This project focus on to know the profile and from which geographical part of Ludhiana the potential customer of Volkswagen cars can be and what is the consumer behavior of various users of cars like how many cars do they have and after how much do they like to change their cars . The whole survey has been done in various parts of Ludhiana city like Focal Point, Industrial Area, Sundar nagar . So, in this research I studied the mapping of the customers and behavior of the customers. So, overall it was great learning experience for me to get such an introspect about automobile industry and various aspects related to its marketing strategy. 32 EXECUTIVE SUMMARY Customer mapping is the Easiest Way to Identify Where Your Customers Come From and Who They Are. Customer Mapping Analysis may include: · A customer profile to understand where to find more like them. · Market penetration and market share reports showing performance in existing markets and expected performance in new markets. · Market ranking reports allowing company to prioritize resource deployment into new markets Customer Mapping helps to know market potential by using following steps. Map Customer Locations Create a "pin map" of where your customers live. Find out at a glance what parts of town you draw from and where to advertise. If you have your names and addresses in a data file, you can order right now with no payment required in advance. Identify Your Trade Area Map your customers to see what your trade area is. Compare your customers with the market potential to see your market penetration. Define Customer Profile Once you have your customers mapped, you can analyze the demographic characteristics and define a profile of your best customers. From this it is a short step to finding more potential customers like them. 32 Target Your Advertising Given your trade area, and your customer profile, you can focus advertising to the places and media that are most likely to hit your target market. Customer Mapping Customer mapping shows organizations which neighborhoods and markets they are serving with their products. The results of customer mapping can often be surprising and show trends that were otherwise unknown. In addition, customer mapping can be applied not only to an entire client database, but also to selected kinds of customers such as: • Those who have bought certain products, or certain services • Those whose purchases exceed a specified amount To gain the greatest value from Customer mapping, it can be combined with market share analysis to reveal the strongest areas that are being reached, and those that are not being reached. Strategies for Customer Mapping What is a geographic market worth to your business? Mapping Analytics will help you find the answer. Market potential can be expressed as a function of: • The number of customers purchasing • Amount purchased • Frequency of purchase In other words, market potential = (how many * how much * how often) 32 Bottom Up or Top Down Market Analysis? It all depends on your specific needs. Mapping Analytics can advise you on the best approach to sizing any market. We employ various methodologies and data sets to get you the answers you need. • A bottom up approach to market sizing starts with your customers. How much and often do they buy? What is their profile? How many potential customers do you have in the market based on your customer profiles? How can you reach them? • A top down approach starts with market and industry data. It takes a close look at a geographic market area and profiles the consumers and/or businesses to let you know their propensity to buy your products and services. Mapping Analytics has expertise in both these approaches to market sizing. We also have a wealth of data sources through partnerships with the best data providers in the industry. We can match the right data for market analysis to your business and market strategy. Cluster Analysis for Customer Mapping We often use lifestyle clustering systems to size consumer markets. Clustering systems operate under the premise that "birds of a feather flock together." That means people with similar buying behaviors and demographic profiles tend to live close together. This helps you identify neighborhoods or markets where your potential is highest. • Cluster analysis identifies key segments in the population that are more likely to purchase your products than the average consumer. • Knowing in which clusters people reside provides a reasonable means of understanding and predicting how they will behave. • Understanding which clusters are more likely than others to purchase allows better targeting . • Clusters are tied to geography, allowing you to identify and prioritize neighborhoods, trade areas and markets . 32 Access Market Opportunity Market analysis services from Mapping Analytics will provide the key intelligence we need to rank and prioritize markets. We will know: · The top new geographic markets to target based on customer or revenue potential · Which markets where we currently do business have untapped potential Gaining this market understanding is essential to growing and expanding our business. But it isn't enough on its own. Demographic Site Selection When we work with Mapping Analytics, we will discover that demographic site selection leads to a sound business site selection decision. We include a series of important analyses when helping we select new sites, including: · Customer profiling · Mapping customer locations · Competitive analysis · Trade area development and mapping · Demographic, Census, and market data analysis · Market potential analysis Customer Profiling Customer profiling services from Mapping Analytics create descriptive segments or groups of your customers. Each segment has specific defining characteristics. A customer segment is not as simple as applying a demographic label, such as "women age 45-54" or "businesses with revenue >$500 million." Those descriptions alone won't tell you enough about your customer. For example, not all women age 45-54 have the same tendency to purchase your products. So a profile like this may not help you much, and you may waste resources marketing and selling to the wrong people. That's why Mapping Analytics takes a more comprehensive and disciplined approach to 32 customer profiling. We use your own customer data, lifestyle cluster data, and analytical techniques. The result is a more accurate description of your customer that can be used to identify areas where you can find more of your best customers.