PROJECT REPORT ON
BRAND PREFERENCE IN MOTORCYCLES WITH SPECIAL REFERENCE TO TVS IN HYDERABAD TOWN
IN PARTIAL FULFILLMENT FOR THE AWARD OF MASTER OF BUSINESS ADMINISTRATION UNDER THE GUIDANCE OF SIDDARTHA SUBMITTED TO NOVA BISUNESS MANAGEMENT SCHCOOL
NOVA PG COOLLEGE JAFFERGUDA, BATASINGARAM, VIL RANGAREDDY, DIST 2007-2009
I here by declare that the project titled”BRAND PREFERENCE IN MOTOR CYCLES WITH SPECIAL REFERENCE TO TVS IN HYDERABAD TOWN”, Kurnool, submitted to NOVA PG COLLEGE, Hyderabad in partial fulfillment of the requirement for the award of the degree of “Master Of Business Administration” is a bonafide research carried out by me under the guidance of SIDDARTHA, faculty guide, Department of Management studies, NOVA PG COLLEGE HYDERABAD.
DATE: PLACE: (C.MAHESUDU)
The satisfaction and euphoria that I feel after the successful completion of my project would be incomplete if I did not mention the people who has able to guidance and encourage crowned my efforts with success. It is my privilege to express my gratitude and respect to all those who inspired and helped me in the completion of this project. I wish my thanks to Mrs. VIJAYANIRMALA Garu, Director of NOVA PG COLLEGE, HYD It is with great pleasure I acknowledge my deep sense of gratitude to Mr. SIDDARTHA (Faculty guide) project guide, to his guidance and valuable suggestions offered during the course of the project. On the company front I would like to express my sincere gratitude to JAYASIMHA REDDY, Manager SRI SAI TVS, and HYDERABAD for giving an opportunity to work in their organization. Last but not the least I extend my heartful gratitude to my parents and all my friends for their encouragement and moral support.
This research study has been mainly undertaken in order to know the brand preference in motorcycles with special reference to SRI SAI TVS in HYDERABAD. After collecting the required data for this research study through a detailed survey of target audience and the distribution channel members in the trade, an in depth analysis has also been carried out by applying various statistical tools and techniques and the finding, inference and their interpretations analysis. along with certain feasible recommendations and suggestions for further improvement are high lightened in this research
CHAPTER – I Introduction
♦ Objective of the study
♦ Limitation of the study ♦ Need for the study ♦ Source of data
CHAPTER – II
♦ Industry profile ♦ Company profile ♦ Product profile
CHAPTER – III
♦ Research methodology
CHAPTER – IV
♦ Data Analysis & interpretation
CHAPTER – V
♦ ♦ ♦ ♦ Theoretical concepts About brand Findings Suggestion
CHAPTER – VI
♦ ♦ ♦ Appendix Questionnaire Bibliography
A brand refers to a name, term, sign symbol or special design or some combination of these of elements is intended to identify the goods and services of one seller or group of sellers. A brand differentiates thesis products from those of competitors. A brand is essentially a seller’s promise to consistently deliver a specific set of features, benefits and services to buyers. The best brands convey a warranty of quality. But a brand is even a more complex symbol. A brand can convey up to six levels of meanings. If a company treats a brand only as name it misses the point of branding. The challenge in to develop a deep set of meanings for the brand. When the audience can visualize all six dimensions of a brand, the brand is deep otherwise it is shallow. Managers in many technology product-markets are faced with a variety of challenges. One challenge is to monitor changes in consumers brand preferences over time. In practice, intrinsic brand preferences can be inferred from tangible performance measures such as sales after accounting for the effects of other factors that may have influenced these measures.
OBJECTIVES OF THE STUDY
1. To identify features responsible for brand preference in TVS motor
2. To analyze the customer perception towards TVS Motorcycles.
SECONDARY OBJECTIVE: 1. To know which bike is associated with least maintenance cost. 2. To know the customer important consideration while buying a bike. 3. To know the customer rank of preference of TVS product, attributes and benefits. 4. To know opinion about the overall performance of the manufacturers of motorcycles. 5. Any suggestions.
1. This survey was limited to Hyderabad town only.
2. The time allotted for the project was 3 months. 3. Unwillingness to provide information by some customers. 4. Due to bias respondents, the information that has been collected Might be Biased, which might lead to biased conclusions. 5. This study covers the sample size of 100.
NEED FOR THE STUDY
There exists a severe competition in the automobile industry, especially in two wheeler sector. All the companies are trying to get dominant market share and new models are introduced into the market with new features.
The company wants to know the preference level of their customer and gauge the future expectation. The company wants to know the brand preference in the motorcycles with a special reference to TVS, to lead them in product design, the modification of product attributes and consequent benefits to the user, with reference to the models on offer as well as now models
Source of data
The task of data collection begins after a research problem has been defined. There are two types of data which are useful in collection of data. The primary data are those which collected a fresh and the first time and thus happen to be original in character. The secondary data, on the other hand, those which have already been collected by some one else and which already been passed through the statistical process. Collection of Primary Data: The researcher can obtain the primary data either through observation or through direct communication with respondents in one from of another or through personal interviews. There were several methods useful in collecting primary data. Important ones are: 1. Observation Method 2. Interviewing Method 3. Through Questionnaires. Collection of Secondary Data: Secondary data means data that are already available that is they refer to the data which have already been collected and analyzed by some one else. The sources of secondary data can be given as under.
1. Various publications of the central, state and the local Governments. 2 Various publications of foreign government or international bodies and their subsidiary organizations. 3. Technical and trade journals. 4. Books, magazines and news papers. 5. Reports and publications of various associations connected with business and industry, banks, stock exchanges etc. In my study I have used both primary and secondary data. For primary data collection I have prepared a questionnaire consisting of both open end and closed end questions. Questions are prepared in such a way that maximum information can be obtained from the respondent. Each questionnaire consists of 19 questions. For secondary data used past data, net with experienced persons in this field and referred company website http://www.TVSmotors.co.in
The two wheeler industry has been going steadily over the years all over the world. India is not an exception for that. Today India is the second largest manufactures of two wheelers in the world. It stands next only to Japan and China in terms of number of two wheelers produced and sold. Until 1990 geared scooters dominated the two wheelers market so much so that their sales equaled the combined sales of Motor cycles and Mopeds. Today the customer preferences have shifted from geared scooters to motorcycles and also to an extent to the premium end scooters. With rising fuel cost and more recently stringent emission norms imposed by the government, there is a distinct consumer preference for high efficiency. Earlier the customer used to buy a two wheeler based on its reliability and price comfort and utility were the two basic traits he needed in the two wheelers. Now with the opening up of the economy and availability of new design and technology the consumer is increasingly according greater priority to power and style. An interesting trend is the shift in the reference towards Japanese designed two wheelers as compared to the Italian designed machines. In the last one year the motorcycle segment has consistently kept its growth chart intact and grown by 30%. Its share is increasing year by year. Today motorcycles command 58% of total two wheeler industries. Hero Honda alone commands nearly half of the market shares that are 48%. A key trend in the motorcycles segment has been the singleminded preference for 4 stroke engines in motor cycles.
In India scooter manufacturing was started in the 1950’s by “APL” in collaboration with “INNOCENTRE” of Italy, and in 1972 BAJAJAUTO began its operations in collaboration with “PIAGGIO” of Italy. The name “BAJAJ” synonymous with two wheelers but the scooters suffered from poor aesthetics low fuel efficiency and difficulty in driving. The most effected have been those with Italian design, while Japanese designs have actually gained. The decline of 16% shown by Italian design. Scooters; like BAJAJ and LML in 20101-2002 continued further to 38% in 2002-2003 on the other hand Japanese designed scooters like KINETIC and TVS which showed a growth of 15% in 2001-2002 almost doubled it to 27% in 20022003. Scooters sales have seen a major in the last decade is so. While the Italian designed scooters saw a negative growth of 38% during 2000-2001, the Japanese designed vehicles like KINETIC and TVS grow by 27% during the same period. Even 4 stroke scooters have been unable to stem the tide of consumers growing preference doe motorcycles. The whole moped segment which includes the scooters (below 100cc) witnessed a decline last year. However it had largely to do with mopeds with large wheels or the Italian designed mopeds. For some time we have been hearing about cheap Chinese goods flooding the Indian market. For some it has turned into big trouble but what is the business without some thread. Indeed the whole two wheeler industry should look at it as a challenge and join forces to over come this challenge. Hero Honda is not unnecessarily perturbed by the cheap Chinese bikes, which may floods the market for as it believes on Indian roads a bike needs have 3R’s – reliability, resale value and ruggedness. On all these
counts, Hero Honda motors scores much higher than the Chinese competition Indeed today’s some of Indian bikes are no more costly that the Chinese one’s and are almost in same range. I could be a problem for the Chinese imports to beet the India counterparts although such cheap variety will not last on Indian roads, with all the potholes and ditches. Still the Indian two wheeler industry is confident that is quite capable of meeting all challenges and over coming them. Hero Honda is the most buzzing word which can be heard frequently in commercial bikes market. Hero Honda took many years to be in number one position in market, at present, though it has faced many bottle necks and struggles. The company’s innovative functioning made it known to every body in India. We can analyze its performance with its market share by comparing it with others like BJAJA, LML etc. MANUFACTURER HERO HONDA BAJAJ AUTO TVS 2005-06 3, 01,577 2, 72,271 1, 62,200 2006-07 3, 14,567 2, 06,208 1, 15,097 GROWTH (%) 4.31 -24 -29.04
On January 25, 2007 TVS Motor Company recorded a growth of 8% and reported a turnover of Rs. 952.98 crore for the third quarter ended December 2006 compared to Rs. 883.38 crore recorded for the corresponding quarter of the previous year. The turnover in the 9-month period ended December 2006 was Rs. 2981.35 crores compared to Rs. 2445.34 crores, recording a growth of 22%.
The product line of TVS are APACHE, STAR CITY, SPORT, VICTOR, VICTOR GLX, SCOOTY TEENZ, SCOOTY PEP, PEP plus, TVS MAX 100. In the present study title “Brand Preference towards TVS Motor Cycle”, all the aspects with reference to nature of consumer and his attitude towards style of the bike, mileage, his opinion towards after sales service, maintenance and opinion on the issue that whether TVS products are suitable for rugged roads etc., have been studied carefully.
TVS Motor Company has established an e-business system, which maximizes company values and profits through e-transformation. With the establishment of ERP systems by SAP, all process of the company are integrated across the manufacturing plants, suppliers, area officers and warehouses India. All area and branch offices access the system via leased lines and VSAT. The company has successfully rolled out a Dealer Management System (DMS) to help in standardizing best practices in dealerships and CRM to improve interaction with customers and product quality. TVS Motor Company is a reliable partner providing customers with quality products through an e-sales portal site and information exchange. TVS was established in 1911 by Shri. T V Sundaram Iyengar. As one of India’s largest industrial entities it epitomizes trust, value and service. Today, there are over thirty companies in the TVS Group, employing more the 40,000 people worldwide and with a turnover in excess of USD 2.8 billion. With steady growth, expansion and diversification, TVS commands a strong presence in manufacturing of Two-wheelers, auto components and computer peripherals. We also have vibrant businesses in the distribution of heavy commercial vehicles passenger cars, finance and insurance.
TVS Motor Company
TVS Motor Co. is the flagship company of the TVS Group. The TVS group was established in 1911 by Sri T.V. Sundaram Iyenger. TVS group commands a strong presence in manufacturing of two-wheelers, auto components and computer peripherals. TVS Motor Company's first launch was 50 cc Moped TVS 50 in August 1980. It is the first Indian company to introduce 100cc Indo-Japanese Motorcycles in India in 1984. It was also the first Indian company to launch indigenous scooterette in India in 1994. It has grown rapidly since it's beginning to become one of the prominent two-wheeler manufacturers in India. Today TVS is a well-known brand in the field of bike manufacturing. The manufacturing unit of TVS Motor is located at Hosur and Mysore. Turnover:
On January 25, 2007 TVS Motor Company recorded a growth of 8% and reported a turnover of Rs. 952.98 crore for the third quarter ended December 2006 compared to Rs. 883.38 crore recorded for the corresponding quarter of the previous year. The turnover in the 9-month period ended December 2006 was Rs. 2981.35 crores compared to Rs. 2445.34 crores, recording a growth of 22%
However, TVS Motor's net profit declined 63.1% to Rs 11.46 crore in Q3 December 2006 from Rs 31.06 in Q3 December 2005. Sales inched up 7.3% to Rs 935.41 crore in Q3 December 2007 (Rs 871.40 crore). Infrastructure TVS Motor Company has one of the most extensive networks of over 500 Dealers and 2500 service centers evenly distributed across the country. Organization TVS Motor Company is headed by Mr. Venu Srinivasan who is the Chairman and Managing Director of the company. FUTURE FOCUS In the future, TVS Motor Company will be one among the top two 2wheeler companies in India and one among the top five 2-wheeler companies in Asia. We will have profitable operations overseas, especially in Asian markets, capitalizing on our expertise in the areas of manufacturing, technology and marketing. The Company will hone and sustain its cutting edge of technology by constant benchmarking against international leaders.
OBJECTIVES OF THE COMPANY
1. To make it a consistent high volume business. 2. Developing customer relation ship and loyalty. 3. Attain the position of “leadership” in all major institutions in the Country. 4. To make institution sales a profit center in ling term. 5. Exploring new business opportunities/niche marketing.
1980- Indians first 2 seater 50cc Moped TVS 50, launched in August. 1984- First Indian co., to introduce 100 motorcycles in September. 1994- Launched first indigenous scooterette, TVS scooty in June. 1996- Introduced first catalytic converter enabled motorcycle, the 110cc Showgun in December. 1997- Launched India’s first 5-speed motorcycle, the shaolin in October. 2000- Launched TVS Fiero, India’s first 150cc, 4 stroke motorcycles in April. 2001- Launched TVS Victor, 4-stroke 110cc motorcycle, in August, India’s First fully Indigenously designed and manufactured motorcycle. 2004- Launched TVS Centra in January, a world class 4-stroke 100cc Motorcycle With the revolutionary VT-I engines, for bet in class mileage. Launched TVS Star in September, a 100 cc motorcycle which is ideal for rough terrain.
TVS Star City
Its stylish alloy wheels and sleek designed new exhaust are taking the breath away of every biker. Other features like single touch ride switch shocks, extra grip tyres etc can be very much helpful in riding this bike in any terrain. Its powerful headlamp and useful parking light leave an additional impression on buyer’smind. Its new Roller Cam Follower (RCF) technology results in reduction of engine friction. Its engine maintains the mileage of 102 kmpl. IT IS FOUND IN DIFFERENT COLORS:
• • •
Red Purple Black
TVS Star City Specifications
ENGINE &TRANSMISSION Type Cubic Capacity Max. Power Max torque Bore X Stroke Compression Ratio Transmission CHASIS & SUSPENSION Front Telescopic hydraulic fork (110mm stroke) Rear Spring-loaded hydraulic shocker (78mm stroke) BRAKES & WHEELS Tyre (front) Tyre (rear) Brake (front) Brake (rear) ELECTRICALS Head Lamp Tail Lamp Turn signals Ignition System DIMENSION & WEIGHT Wheel base Dry Mass Weight CAPACITIES Fuel tank Fuel Reserve 16 ltrs 2.5 ltrs 1250mm 104kg 12v, 35/35w 12v, 10w 12v, 10w A/C Digital CDI 2.75*18 2.75*18 130mm 130mm 4-Stroke 99.7cc 5.50KW(7.5bhp)@7500rpm 7.5 [email protected]
51.0 x 48.8 9.51:1 4 speed constant mesh
TVS Star Sport
With the excellent body graphics, TVS star sport comes with VTi engine. Its digitally controlled ignition timing and temperature sensors ensure its reliability and fuelefficiency. Its better mileage is the result of fuel wastage reduction system and friction reduction technology. Power and economy indicator can be said as the mileage controller. Its mesmerizing body lining, stunning muscular fuel tank, stylish trapezoidal MFR headlight accentuates the creativity of the manufacturers along with their technicalexpertise. Its methodically designed ergonomic seats and 5 step rear shock absorbers give complete guarantee of comfortable and smooth riding. IT IS FOUND IN DIFFERENT COLORS:
• • •
Blazing Red Deep Black Teitian Blue
TVS Star Sport Specifications
ENGINE &TRANSMISSION Type Cubic Capacity Max. Power Max torque Bore X Stroke Compression Ratio Transmission CHASIS & SUSPENSION Front Telescopic hydraulic fork (110mm stroke) Rear Spring-loaded hydraulic shocker (79mm stroke) BRAKES & WHEELS Tyre (front) Tyre (rear) Brake (front) Brake (rear) ELECTRICALS Head Lamp Tail Lamp Turn signals Ignition System DIMENSION & WEIGHT Wheel base Dry Mass Weight CAPACITIES Fuel tank Fuel Reserve 12 ltrs 2 ltrs 1250mm 99kg 12v, 35/35w 12v, 10w 12v, 10w A/C Digital CDI 2.75*18 3.00*18 130mm 130mm 4-Stroke 99.7cc 5.50KW(7.5bhp)@7500rpm 7.5 [email protected]
51.0 x 48.8 9.15:1 4 speed constant mesh
TVS Victor GLX
Its 125 cc VT-i engine delivers power of 10 bhp (7.36 kw) and mileage of 85 kmpl. This fuel economy duralife engine is highly temperature sensitive which is helpful in sensing the low temperature of the engine. Accordingly engine active-ate spark plug and advances the ignition timing. This bike is equipped with various high end designs which include digitally designed petrol tank with knee recess, twin pod instrument panel with Econometer, fuel gauge, trip meter and tachometer etc. Its comfort feature comprises triple rated 5 step adjustable rear and telescopic front shock absorbers which result in synchronized suspension. IT IS FOUND IN DIFFERENT COLORS: GLX Red GLX Blue GLX Black Silver
TVS Victor GLX Specifications
ENGINE &TRANSMISSION Type Cubic Capacity Max. Power Max torque Bore X Stroke Compression Ratio Transmission CHASIS & SUSPENSION Front Telescopic Oil-damped; 105mm travel Rear Gas Filled shock Absorbers with co-axial spring; 75mm travel, with 5-Strp adjustable Preload BRAKES & WHEELS Alloy Wheel with Drum brake Version Tyre (front) Tyre (rear) Brake (front) Brake (rear) ELECTRICALS Head Lamp Tail Lamp Turn signals Ignition System DIMENSION & WEIGHT Wheel base Dry Mass Weight CAPACITIES Fuel tank Fuel Reserve 13 ltrs 2.5 ltrs 1260mm 122kg 12v, 35/35w Halogen bulb 12v, 10w 12v, 10w Digital Ignition 90*90*17 3.0*18 130mm Drum 130mm Drum 4-Stroke, air-cooled OHC 124.8cc 7.36 KW (10bhp)@7500rpm 9.8 Nm @ 6000rpm 54.5 mm x 53.5 mm 9.2:1 4 speed constant Mesh
TVS Apache RTR with its shapely streamlined tank and engine design is really an eye -stopper. Its smooth and flawless finish makes this bike desirable to the market. Its tough but light 6 spoke black alloy wheels with red rims are really supportive for better control and excellent riding of these two wheelers. Its uniquely designed head lamp and turn signal lamps have become one of the best head turner in the market of two-wheeler. It has a uniquely alloy finished one piece brake pedals and levers that make your drive an safe one on any sort of tarmac. The bike has an extraordinary racing stripes, luminous rims and race crouch mirrors that evokes the fantasy of any speed freak. Its aluminum foot pegs, split grab rails at the rear along with the silencer canister and beat gives it a complete touch of perfection. It comes in various exciting colors:
• • • •
Yellow Black silver Red Matt gray
TVS Apache Technical Specifications
ENGINE &TRANSMISSION Type 4-Stroke Cubic Capacity 147.5cc Max. Power 9.95 KW/(13.5bhp)@8500rpm Max torque 12.3 [email protected]
Bore X Stroke 57 mm x 57.8 Compression Ratio 9.5:1 Transmission 5 speed constant mesh Power to weight ratio 101.16 bhp / ton Starting Electric & kick Start Ignition IDI-dual mode digital ignition CHASIS & SUSPENSION Type Double Cradle Front Telescopic fork (105mm stroke) Rear Monotube Inverted Gas filled shox (ES) BRAKES & WHEELS Tyre (front) Tyre (rear) Rim size (Front) Alloy Rim size (Rear) alloy Brake (front) Brake (rear) ELECTRICALS Battery Head Lamp Tail Lamp Turn signals Turn signal lamp DIMENSION & WEIGHT Wheel base Kerb Weight CAPACITIES Fuel tank Fuel Reserve 90/90 X 17 100/80 X 18 (ES), 90/90 X 18(ks) 1.85 X 17 2.15 X18 (ES), 1.85 X 18 (KS) 240 mm Disc (ES), 130 mm Drum (KS) 130 mm Drum 12V, 9.0 Ah(ES), 5.0 Ah (KS) 35/35 W Halogen HS1, Clear lens with MFR 5W 21W 10 W 1260mm 136kg 16 ltrs 2.5 ltrs
TVS Scooty TVS Scooty has come up with all the salient features which are really essential for good scooterettes. It is available with several features which are truly required to make the riding safer and secured. Its variants are found in different colors and many different technical specifications.
TVS Scooty Teenz Specifications
ENGINE Type Bore & Stroke (mm) Displacement Max. Power Torque (Nm) DIMENSIONS Wheel base (mm) Kerb weight (kg) Brake drum front (mm) Brake drum rear (mm) Ground clearance (mm) Tyre size FR & FR (inches) Fuel tank capacity Full / Reserve (ltr.) ELECTRICALS 1220 82 Dia 110 Dia 130 140 2.75” X 10” – 4 PR 4.5 / 0.75 Single cylinder, forced air cooled, 2 stroke petrol engine 42.6 & 42.0 59.9 2.57 kW (3.5 BHP) @ 5500 rpm 4.5 Nm @ 5000 rpm
Ignition System Head Lamp Tail Lamp Turn Signal Lamp Battery DRIVE Clutch Drive
Analog AC CDI 12V, 35/35 W 12V, 21/5 W 12V, 10 W 12V, 5Ah
Auto centrifugal clutch Variomatic V belt transmission and Gear reduction
TVS Flame The bike that can set the tarmac afire and catch the fantasy of any bike lover is all ready to grace the surface of Indian roads. It has been styled and decked with all the features that one could have only dreamt of. It consists of Delta edge Exhaust, Dual Lens Tail Lamp that promises better visibility, Digital Speedometer and so on. Extremely captivating in looks, this one can be any buyers' first choice. Along with this, the bike has been embedded with Delta edge Trafficators with aerodynamic design, LCD Digital Speedometer that has been integrated with fitness check. The bike delivers an outstanding performance while having 125 cc, 3 valves CC-VTI Engine that gives out a 10.5 bhp @8250 rpm. It goes in sync with the international standards of style and technology thus becoming the desire of every modern buyer. It has been stylized on the patterns of Delta Wings that is found in the latest fighter jets. The Delta edge Exhaust ensures the smoothest sound, low emission and outstanding performance.
TECHNICAL SPECIFICATIONS OF TVS FLAME
DIMENSIONS & WEIGHT Wheelbase (mm) Length (mm) Width (mm) Height (mm) Weight (kgs) ENGINE Model Designation Clutch Displacement (cc) Gear Box Bore & Stroke SUSPENSION Front Rear BRAKES Front Rear TYRES Front Rear Fuel Tank (In Liters) PERFORMANCE Max. Horsepower (ps/rpm) Max. Torque (kg m/rpm) 7.7 KW @ 8250 RPM 10 NM @ 6250 RP Mag Alloy 90 x 90 x 17 Mag Alloy 90 x 90 x 18 8 Disc 230 dia Drum 130 dia Telescopic Hydraulic Fork Twin tube 05 step adjustable gas filled. CC-VTi, 04 Stroke Multi-Plate Wet type 124.8 04 Gear Constant Mesh 54.5 X 53.5 MM 1320 2030 760 1070 121
A market driven enterprise should focus on studying the customer so as to enable make polices such as modifications of the product quality, fixing the price affordability, delivering the service that are satisfactory etc.. They will be having contact with the customers through the middlemen such as distributors and retailers. Retailer is the member of the channel at a lower level who will be having a direct contact with the customer. Customer buying behavior and his attitude towards the products can be well known through the interaction with the retailers as he is the customer. So, every company requires concentrating on the customer behavior evaluation to strengthen the distribution network and the customers. satisfying
Research design is the plan, structure and strategy of investigation conceived so as to obtain answers to research questions. Descriptive research design was chosen for the present study. Data sources: The study is mainly based on the data collection from primary as well as secondary sources. Primary data: Primary data are data collected for specific purpose. Primary data is collected directly from the customers through administering questionnaire. Secondary data: Secondary data are data that were collected for another purpose and already exist some where. Secondary data was collected from company records and catalogs. Research approach: Survey method is adopted to collect the needed information from the respondents. Research instrument: Here for this study the researcher used well designed and structured questioner as a research instrument include both open &closed ended questions. The questionnaire is personally administered to the respondents.
Definition of population: The population for the study includes customers who prefer wafers. Sampling procedure: For selecting the defined size of sample form the target population convenience, a non probability sampling techniques is adopted. Sample size: A sample of 100 customers was selected from the targeted population for the present study.
STATISTICAL TOOLS USED:
For the purpose of analysis, weighted average method and percentage method are used for calculations and the result was interpreted. This test was used to minimize the error of the data collected. Graphs were used to represent the data for the better and accreted interpretation of the results.
Statistical tools used:
Simple tools are used for analysis. They are as follows: 1. Percentage analysis 2. Weighted Average method
SAMPLING PLAN: Before undertaking the survey, the sampling unit, sample size and sampling procedure are to be final analysis used for this study.
1. Simple bar Method: A simple bar diagram represents the magnit6ude Of only one Variable. 2. Pie Diagram: In this the circle is partitioned into various sections Representing the proportions of various components.
ANALYSIS AND INTERPRITATION
The following table shows no. Of respondents according to their age. Table-1 Age Under 25 25-34 35-44 45-54 55-64 Above 65 Total INFERENCE: Out or 100 respondents met 40% are under 25, 30% of them were in between 25-34, 15% of them are in between 35-44, 10% of them are in between 4554 and 5% of them are in between 55-64.
Age of the Respondents
120 100 80 60 40 20 0
-6 bo 4 ve 65 25 -3 4 -4 4 -5 4 de r 25 35 45 55 T ot al
No. of Respondents 40 30 15 10 5 0 100
Percentage 40% 30% 15% 10% 5% 0 100
No. of Respondents Percentage
The following table shows no. of respondents according to their educational QUALIFICATIONS.
Table-2 Educational Qualification Primary Secondary Graduation Post Graduation professional total Inference: Out of 100 respondents 5% are primary educated, 15% of them are secondary, 45% of them graduation, 25% of them post graduation and 10% professional.
120 100 80 60 40 20 0
Po st Gr ad ua t io n pr ofe ss ion al Gr ad ua tio n Se co nd ar y fic at ion Pr im to ta l ar y
No. of respondents 5 15 45 25 10 100
Percentage 5% 15% 45% 25% 10% 100
The following table shows respondents income level per month. The following table shows respondents income level per month
Ed uc at io
na lQ ua li
Table-3 Income level p.m Up to 9,900 10,00-14,000 15,000-20,000 Above 20,000 Others Total No. of respondents 48 12 8 8 24 100 Percentage 48% 12% 8% 8% 24% 100
Inference: Out of 100 respondents met, 50% are below the income level of 9,900, 15% are in between 10,000-20,000, 10% are in between 15,000-20,000,10% are in between above 20,000 and 15% are others.
Income level per month
120 100 80 60 40 20 0
0 0 00 0 er s 14 ,0 9, -2 0, 20 , to O To ta 90 00 00 th l
No. of respondents Percentage
The following table shows the family members of the respondents.
Table-4 Family members 1-2 3-4 Above 5 Total No. of respondents 15 45 40 100 percentage 15% 45% 40% 100
Inference: Out of the 100 respondents met 15% of them are in between 1-2, 45% of Them are in between 3-4, 40% of them are above 5.
50 40 30 20 10 0 15 15% 1-2
40 No. of respondents percentage
The following table shows no. of respondents to come to know about this brand.
RESEARCH METHODOLOGYRESEARCH METHODOLOGYTable-5 Known About This Brand News paper Tele vision Magazine Friends Sales people Hoardings Total Inference: Out of 100 respondents met 20% come to know by news paper,15% come to know by television,10% come to know by magazine, 15% come to know by friends, 35% come to know by sales people and 5% come know by hoardings. No. of Respondents 20 15 10 15 35 5 100 Percentage 20% 15% 10% 15% 35% 5% 100
Known About This Brand
News paper Tele vision Magazine 15% Friends Sales people Hoardings
The following table shows No. of respondents and the mileage they get by their Motor cycle.
Table-6 Specify the mileage Below 45 k.m/l 45-50 51-55 56-60 61-6.5 Above 66 Total Inference: Out of 100 respondents met, 25% of them gets mileage below 45, and 30% of them Gets mileage between 45-50,15% are gets mileage between 51-55, 15% gets mileage Between 56-60,10% gets mileage between 61-65, only 5% gets mileage above 66. No. of Respondents 25 30 15 15 10 5 100 Percentage 25% 30% 15% 15% 10% 5% 100
Below 45 k.m/l 45-50 51-55 56-60 61-6.5
In the following table shows the mode of purchase of bikes by the Respondents.
Mode of purchase Cash down Monthly installment 0 % Interest Bike exchange mela Total Inference: Our of 100 respondents met 55% get their bike by cash down, 20% by monthly Installments, 20% by 0% interest and 5% by bike exchange mela. No. Respondents 55 20 20 5 100 Percentage 55% 20% 20% 5% 100
Mode of Purchase
5% 20% Cash down Monthly installment 55% 20% 0 % Interest Bike exchange mela
The following table shows how much distance the respondents travel a day.
Table -8 How long do you ride Below 20 k.m 20-40 40-60 60-80 80-100 Above 100 Total No. of Respondents 40 30 15 10 5 0 100 Percentage 40% 30% 15% 10% 5% 0% 100
Inference: Out of the 100 respondents met 40% travel below 20 Kms a day, 30% travel in Between 20-40, 15% travel in between 40-60,10% travel in between 6080,5% travel in between 80- and 0% travel above 100.
Distance of the respondents travel a day
45 40 35 30 25 20 15 10 5 0 Below 20-40 20 k.m 40-60 60-80 80-100 Above 100
No.of Respondents Percentage
The following table shows respondents attitude towards motorcycles.
Towards motor cycle
Basic necessity Affordable Luxury Total
60 15 25 100
60% 15% 25% 100
Out of 100 respondents met 65% feel as basic necessity, 15% feel as Affordable and 25% feels as luxury.
Attitude towards the motorcycle
25 Basic necessity Affordable 15 60 Luxury
Table -10 Influence of purchase decision: Purchase decision self Friends opinion Retailers Existing users Total No. of respondents 10 8 70 12 100 Percentage 10 8 70 12 100
Inference: Out of 100 respondents feel as self 10%, Friends opinion feel as 8%, Retailers feel as 70%, Existing users feel as 12%
No. of respondents
self Friends opinion Retailers Existing users
Educational Qualification Primary Secondary Graduation Post Graduation professional total Inference:
No. of respondents 5 15 45 25 10 100
Percentage 5% 15% 45% 25% 10% 100
Out of 100 respondents 5% are primary educated, 15% of them are secondary,
No. of respondents
Primary Secondary Graduation Post Graduation professional
45% of them graduation, 25% of them post graduation and 10% professional. The following table shows respondents income level per month. The following table shows respondents income level per month
Factors influencing the Sales of Confectioneries Factors Ads Gifts Offers Free samples Total No. of respondents 27 39 28 6 100 Percentage 27% 39% 28% 6% 100
No. of respondents 50 40 30 20 10 0
No. of respondents
rs Of fe Fr ee
INFERENCE: According to the survey it is found that the impact of Gifts is More on the sales of confectioneries. When put down in figures 27% of respondents says that Ads influences the sales of Confectioneries, 39% of respondents says that Gifts influences the sales of Confectioneries, 28% of respondents says that Offers influences the sales of Confectioneries, 6% of respondents say that free samples influence the sales of Confectionaries.
Table-13 Repairs Low mileage Starting problem Break/Electrical Speedometer Total No. of respondents 30 15 45 10 100 Percentage 30% 15% 45% 10% 100%
INFERENCE: Out of 100 respondents meet Low mileage feel as 30%, 15% as feel as Starting problem, 45% feel as Break/Electronic,10% feel as Speedometer
No. of respondents
10 30 Low mileage Starting problem 45 Break/Electrical 15 Speedometer
In the following table shows the mode of Type of repairs by the Respondents.
Brands were originally developed as labels of ownership: name, term, design, and symbol. However, today it is what they do for people that matters much more, how they reflect and engage them, how they define their aspiration and enable them to do more. Powerful brands can drive success in competitive and financial markets, and indeed become the organization's most valuable assets. Brand Equity Brand equity measures the total value of the brand to the brand owner, and reflects the extent of brand franchise. The term brand name is often used interchangeably with "brand", although it is more correctly used to specifically denote written or spoken linguistic elements of a brand. In this context a "brand name" constitutes a type of trademark, if the brand name exclusively identifies the brand owner as the commercial source of products or services. A brand owner may seek to protect proprietary rights in relation to a brand name through trademark registration. Brand monopoly In economic terms the "brand" is a device to create a monopoly—or at least some form of "imperfect competition"—so that the brand owner can obtain some of the benefits which accrue to a monopoly, particularly those related to decreased price competition. For example, the Coca Cola Corporation will probably never have a monopoly on cola-flavored soda pop, but it can have a monopoly on its own brand of cola-flavored soda pop. In this context, most "branding" is established by promotional means. There is also a legal dimension, for it is essential that the brand names and trademarks are protected by all means available. The monopoly may also
be extended, or even created, by patent, copyright, trade secret (e.g. secret recipe), and other sui generis intellectual property regimes (e.g.: Plant Varieties Act, Design Act). Brand extension An existing strong brand name can be used as a vehicle for new or modified products; for example, many fashion and designer companies extended brands into fragrances, shoes and accessories, home textile, home decor, luggage, (sun-) glasses, furniture, hotels, etc. Mars extended its brand to ice cream, Caterpillar to shoes and watches, Michelin to a restaurant guide, Adidas and Puma to personal hygiene. There is a difference between brand extension and line extension. When Coca-Cola launched "Diet Coke" and "Cherry Coke" they stayed within the originating product category: non-alcoholic carbonated beverages. Procter & Gamble (P&G) did likewise extending its strong lines (such as Fairy Soap) into neighboring products (Fairy Liquid and Fairy Automatic) within the same category, dish washing detergents. These are examples of line, not brand extensions. Multiple brands In a market fragmented with many brands, a supplier can choose to launch new brands apparently competing with its own, extant strong brand (and often with an identical product), simply to obtain a greater share of the market that would go to minor brands. The rationale is that having 3 out of 12 brands in such a market will give garner a greater, overall share than having 1 out of 10 (even if much of the share of these new brands is taken from the existing one). In its most extreme manifestation, a supplier pioneering a new market which it believes will be particularly attractive
may choose immediately to launch a second brand in competition with its first, in order to pre-empt others entering the market. Individual brand names naturally allow greater flexibility by permitting a variety of different products, of differing quality, to be sold without confusing the consumer's perception of what business the company is in or diluting higher quality products. Once again, Procter & Gamble is a leading exponent of this philosophy, running as many as ten detergent brands in the US market. This also increases the total number of "facings" it receives on supermarket shelves. Sara Lee, on the other hand, uses it to keep the very different parts of the business separate—from Sara Lee cakes through Kiwi polishes to L’eggs pantyhose. In the hotel business, Marriott uses the name Fairfield Inns for its budget chain BRAND PREFERENCE Managers in many technology product-markets are faced with a variety of challenges. One challenge is to monitor changes in consumer’s brand preferences over time. In practice, intrinsic brand preferences can be inferred from tangible performance measures such as sales after accounting for the effects of other factors that may have influenced these measures. Given the rapid introduction and withdrawal of models in these markets, one needs to, while measuring the dynamics in brand preferences, partial out the effect of the changing portfolio of models on a brand’s performance.. Besides monitoring these preference changes, managers are also interested in understanding the drivers of preferences over time. Hence, managers may be interested in understanding the role of advertising in driving the dynamics of brand preferences. A second issue of interest to managers is to understand what drives the changes in a brand’s performance over time. Given that the markets for technology products
evolve rapidly, we usually observe some interesting dynamics in the performance of the key brands. As noted previously, one possibility is that changes in performance are tied to changes in intrinsic preferences. At the same time, they could also be due to (a) the changing portfolio of models in a brand’s product line; and / or (b) modifications in the attributes and prices of the models in the product line. This calls for an assessment of the relative influence of product line and intrinsic brand preferences on the performance of brands in a category. Such an assessment, will guide managers on which aspect to emphasize in order to improve their brand’s performance.. Hence, brand-level preferences are driven by the inclusive value across models as well as the intrinsic preferences for each of the brands. To allow for time-varying intrinsic preferences at the brand level, we use a state-space model based on the Kalman filter. This Kalman filter component captures the dynamics of the intrinsic brand preferences as influenced by marketing actions such as advertising. In this way we allow for changing brand preferences and can also understand the role that advertising plays in driving these preferences. While the brand level of the model captures the dynamics in the inclusive value and the brand preferences, the model choice part evaluates the tradeoffs consumers make between different attributes and thus enables us to quantify the consumer valuation of these attributes. Over all, we find that the effect of the dynamics in the intrinsic brand preferences is higher than the corresponding effect of the dynamics in the product line for all the brands.
After detailed analysis of data update from this research study we come to the conclusion that:
1. It was found that 30% customers came to know about the brand by sales people and 20% came to know by television and news paper. 2. Out of 100 respondents met for the study, it was found that more customers are using hero Honda and later they give importance to TVS. 3. It was found that 55% of customers bought their vehicle to cash down Payments, 20% of customers by monthly installments. 4. It was found that 65% of customers feel owning a bike as necessity and 15% Of customers are feel affordable. 5. From the survey it was found that 40% of customers are travel 20 km, 30% are Travel 20-40 km. 6. In TVS product line it was found that 36% of customers Prefer star city. and 30% victor. . 7. It was found that in TVS respondents preferred mileage, styling, good shape and reselling price.
8. It was found that price, advertising, brand image, reselling price are Influencing the respondents while choosing a bike. 9. It was found that according to respondent’s opinion about the overall Performance of the manufacturers of motor cycles, Hero Honda Stands first followed by TVS, Bajaj and Yamaha. 9. Hence efforts should be made to foster harmonious relations among these groups . 10. Advertisement is playing major role in the promotion of Hero Honda.
The company needs to concentrate on releasing more models into the market in order to capture more market share. As majority feels that a bikes is a necessity to all sectors of the market, including the lower end of the market may be targeted with suitable models. Positive word of mouth from sales people may be generated and sustained as it stands next to the Television Media in influencing the customer’s choice
Low priced models should be promoted in order to attract middle income as well as the lower income groups. As TVS position is third as the least maintenance cost bikes, updating their technology may develop the least cost positioning and image. As the major consumer group is under 25 product features as well as the advertisements may be tailor made for them. Finance arrangements for purchase of bike may be strengthened in order to induce more customers towards them.
1. Name: _______________________ 2. Age Under 25 45-54 25-34 55-64 35-44 Above 65
3. Address: __________________________ __________________________ __________________________ 4. Education Qualification Primary Post Graduation 5. Occupation Secondary Professional Graduation
1. Student 2. Govt.Service 3. Private Service 4. Business 5. Profession 6. Others
6. How many family members you have? 1-2 3-4 5and above
7. Income Level per Month? Up to Rs.9, 900 Rs.15, 000 -19,900 Rs.10, 000-14,000 above Rs.20, 000
8. Attitude towards the motorcycle? Basic necessity Affordable Luxury
9. How did you come know about this Brand? News paper Friends’ TV Sales people Magazine Hoarding
If other please specify ____________________________ 10. Which mode of purchase of bikes you expect? Cash down 0% interest Monthly installments Bike exchange mela
11. How much mileage gets you by exiting bike? Below 45 KM/L 56-60 45-50 61-65 51-55 Above 66
12. How much distance travel a day? Below 20 Km/L 60-80 20-40 80-100 40-60 above 100
13. Which kind of repairs you have chosen frequently? Low mileage Brake/electrical Starting problem Speedometer
14. Which kind of maintenance problems you have chosen frequently? Water wash Oil change cleaning carburetor Spark plug
15. Which one do you prefer in TVS Product Line? TVS Victor TVS Star City TVS Centro TVS Apache
16. What is the main reason for purchasing TVS Products? Riding Comfort Company reputation Engine performance Strength/durability Trouble free performance low maintenance cost
17. Rank following features in TVS as per your assessment and preference Good shape Attractive styling and color Mileage Riding Control Exhaust sound Rank _______________ _______________ _______________ _______________ _______________
18. What are the factors influencing the sale of Confectioneries . a) Ads ( ) b) Gifts ( ) c) Offers ( ) d) Free samples ( )
19. Who influences your purchase decision? (a) Self ( ) (b) friends opinion ( ) ) (c) Retailers ( ) (d) Existing users (
BIBLIOGRAPHY BOOKS 1. MARKETING PHILIP KOTLER, principles of marketing, New Delhi, millennia edition Indian print 2000. 2. RESEARCH METHODOLOGY KOTHARI, C.R., “RESEARCH METHODOLOGYMETHODS AND TECHNIQUES”, NEW DELHI, 1997, 2ND EDITION. 3. STATISTICS DR.GUPTA S.P. ELEMENTS OF BUSINESS STATISTICS, FIFTH EDITION. 4. BRAND POSITIONING SUBRATO SENGUPTA. WEBSITE
WWW.TVSMOTORS .CO.IN WWW. GOOGLE .COM