A PROJECT REPORT ON CONSUMER BEHAVIOR IN TWO WHEELERS INDUSTRIES Summer Internship Report Submitted In partial fulfillment of B.Tech + MBA Programme SUBMITTED BY SUBMITTED TO VAIBHAV TYAGI Mr.NAVEEN KUMAR R.NO: 10/IEE/054 SCHOOL OF MANAGEMENT GAUTAM BUDDHA UNIVERSITY,GREATER NOIDA UP-201308 1 ACKNOWLEDGEMENT It is a pleasure to record my thanks and gratitude to persons and organizations whose generous help and support enabled me to complete this project within the stipulated time period. My special thanks are due to Mr. Rajeev S. Sethi, Senior Manager (Marketing & Sales) , Yamaha Motor India Pvt Ltd., Surajpur, Greater Noida, for his active help and support in making me understand Indian two wheeler industry, who guided me at each step during my training period and without whom preparation of this report would not have been possible. I also like to thanks Mr. NAVEEN KUMAR, Faculty of M.B.A. School Of Management who guided me in the completion of this project. This report is the culmination of the synchronized effort of all the above mentioned that had faith and confidence in me. I am greatly indebted to all those persons who have helped me in some way or other in the completion of the project. Vaibhav Tyagi Summer intern(Yamaha,greater noida) 2 DECLARATION I am Vaibhav Tyagi, Roll No. 10/iee/054, a student of B.Tech +MBA 9th Semester of GAUTAM BUDDHA UNIVERSITY,GREATER NOIDA hereby declare that project report entitled “CUSTOMER SATISFACTION OF TWO WHEELERS INDUSTRIES, With special reference to YAMAHA” is my original work and the same has not been submitted for the award of any other diploma or degree. Place: Vaibhav Tyagi Date: 3 TABLE OF CONTENTS Chapter.-01. INTRODUCTION Chapter.-02. CRITICAL REVIEW OF LITERATURE Chapter.-03. CORPORATE INTRODUCTION - Company profile - Industry profile - Products of Yamaha - SWOT checklist Chapter.-04. RESEARCH METHODOLOGY - Research problem and objective - Research process - Research design - Scope of study Chapter.-05. DATA COLLECTION AND PRESENTATION Chapter.-06. GRAPHICAL DATA ANALYSIS AND ITS INTERPRETATION Chapter.-07. FINDINGS OF THE RESEARCH Chapter.-08. GAPS IN LITERATURE REVIEW Chapter-09. SCOPE OF FURTHER RESEARCH Chapter.-10. PROBLEM IDENTIFICATION Chapter.-11. CONCLUSION Chapter.-12. SUGGESTIONS Chapter -13. LIMITATIONS Chapter.-14. BIBLIOGRAPHY 4 EXECUTIVE SUMMARY OBJECTIVE : To view the satisfaction level of customers for two wheelers industries. RESEARCH METHODOLOGY : The research had to be conducted through a survey based on questionnaires Sample size – 200. Brands covered – Hero honda Bajaj Honda Tvs Suzuki Yamaha Target Area – SURAJPUR, GREATER NOIDA HARIDWAR Sampling used – Simple Random. Scaling used – 5 point likert scale . DATA ANALYSIS : Analysis was done on the basis of 22 parameters. Bar charts were developed on these parameters which compare different brands in the 2 wheeler industry.with the help of these charts. yamaha’s position in the market is found and analysed . 5 SUGGESTIONS : Introduction of new brands- this may turn the market oligopolistic but will definitely increase the market share. Looks and style should not be over stressed as compared to quality and mileage. Yamaha does not have any successful 150 cc bike. Yamaha’s R & D facilities should coordinate with the marketing wing to give customers what they want. Secondary research shows that yamaha has a good brand awareness. But when it comes to real market , it is an illusion. 360 degree marketing approach with aggressive promotional campaigns should be followed. Focus should be on young teenagers and executives as they represent largest portion of the bike user segment . Provide better sales follow up which almost every brand lacks . Indian customers generally do not use bike for fashion but as a necessity so mileage should be a concern. 6 CHAPTER 1 INTRODUCTION INTRODUCTION Research means detailed study of a problem. Here, the details of the marketing problem are collected and studied, conclusions are drawn and suggestions are made to solve the problem quickly, correctly and systematically. In MR, specific marketing problem is studied in depth by collecting and analyzing all relevant information and solution are suggested to solve the problem which may be related to consumers, product, market competition, sales promotion and so on. MR is special branch of marketing management. It is comparatively of recent in origin. MR acts as an investigative arm of a marketing manager. It suggests solution on marketing 7 problem for the consideration and selection by a marketing manager. MR also acts as an important tool to study buyer behaviour, changes in consumer life-style and consumption patterns, brand loyalty and forecast market changes. In brief, MR facilitates accurate marketing decisions for consumer satisfaction on the one hand and sales promotion on the other hand. It is rightly treated as the soul of modern marketing management. MR suggests possible solution on marketing problem to marketing manager for his consideration and final selection. It is rightly said that the beginning and end of marketing management is marketing research. It is primarily used to provide information needed to guide marketing decision, market mix. It acts as a support system to marketing management. INCREASING NEED OF MARKETING RESEARCH 1) Growth and complexity of markets :- Markets are no more local in character. They are now national and even global in character. The marketing activity is becoming increasingly complex and broader in scope as more firms operate in domestic and global markets. Manufactures find it difficult to establish close contact with all markets and consumers directly. Similarly, they have no control on the marketing system once the goods are sold out to middlemen. This situation creates new problem before the manufacturers which can be faced effectively through MR as it acts as a feed-back mechanism to ascertain first hand information, reaction, etc. of consumers and middleman. Marketing activities can be adjusted accordingly. 8 2) Wide gap between producers and consumers:- Marketing research is needed as there is a wide gap between producers and consumers in the present marketing system. Due to mass scale production and distribution, direct contact between producers and consumers. Producers do not get dependable information as regards needs, expectation and reactions of consumers, they are unable to adjust their products, packaging, prices, etc. as per the needs of consumers. The problem created due to information gap can be solved only through MR as it possible to establish contact with consumers and collect first hand information about their needs, expectation, likes, dislikes, preferences and special features of their behaviour. Thus, MR is needed for removing the wide communication gap between producers and consumers. 3) Changes in the composition of population and pattern of consumption: - In India, many changes are taking place in the composition of population. There is a shift of population from rural to urban areas. There have been considerable changes in the consumption and expenditure patterns of consumers in India. The incomes of the people, in general, are rising. This brings corresponding increase in their purchasing capacity and buying needs and habits. The demand for consumer durables is fast increasing. The market are now flooded with consumer durables like TV sets and so on. Manufacturers are expected to know such qualitative and quantitative changes in the consumer preferences and their consumption pattern. For achieving this objective, MR activities are necessary and useful. In brief, MR is needed for the study of changes in the pattern of consumption and corresponding adjustment in the marketing planning, policies strategies. 4) Growing importance of consumers in marketing:- Consumers occupy key position in modern marketing system. They are now well informed about market trends, goods available, consumer rights and protection available to them through consumer protection acts, the growth of consumerism has created new challenges before manufacturers and traders. Even growing customer expectations create situation when manufacturers have to understand such expectations and adjust the production policies accordingly. Indifference towards consumer expectations may lead to loss of business. In the present marketing system, consumers cannot 9 be taken for granted. Marketing research particularly consumer research gives valuable data relating to consumers. It is possible to use such data fruitfully while framing marketing policies. Thus, marketing decisions can be made pro consumer through marketing research activities. 5) Shift of competition from price to non-price factors:- Cut-throat competition is unavoidable in the present marketing field. Such competition may be due to various factors such as price, quality, and packaging, advertising and sales promotion techniques. Entry of new competitors creates new problems in the marketing of goods and services. In addition, market competition is no more restricted to price factor alone. There are other non-price factors such as packaging, branding, after-sales and advertising which create severe market competition. Every producer has to find out the extent of such non-price competition and the manner in which he can face it with confidence. MR is needed as it offers guidance in this regards. A manufacturer can face market competition even by using certain non-price factors. The shifting of competition from price