goodyear summer project
TRANSCRIPT
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Final Project Report on
TO EXPLORE THE UPCOUNTRIES FOR TYRES & FIND THE TYREMARKET POTENTIAL IN THE RAIGAD DISTRICT
Project submitted in partial fulfillment of the requirements for the award of the degree
of
MASTERS IN MANAGEMENT STUDIES
MUMBAI UNIVERSITY
Submitted by
Shivanand Chavhan 013
MMS Marketing
METS INSTITUTE OF MANAGEMENT
BANDRA
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MET Institute of ManagementAcknowledgement
I, Shivanand Chavhan (013) from MMS-Marketing am submitting the Final Project Report . It
basically captures the exploration of untapped tyre market for Goodyear tyres company across the
various places in districts of raigad and in the western suburbs. My project guide was Ms NiyatNagpal, Sales manager,Mumbai,Goodyear India
I would also like to extend my heartfelt thanks to Mr Sudarshan shetty & Mr Parag kamulkar ,Are
sales executive for all the support they extended.
Also, thanks to all the dealers whom I interacted with during the course of the project
I would hereby like to acknowledge the skills and knowledge along with the experience that I hav
gained from our guide during the course of the project and I really appreciate the entire staff too o
Goodyear Tyres for helping us out whenever required.
Hereby, I assure that all the information from this final project report will always remain private &
confidential and would not leak under any circumstances.
I would also like to thank Mr. D. M. Marathe from MET MMS for his kind co-operation and support
throughout the project.
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Table of Contents
Serial No. Topic Page No.
Summary 4
The Indian tyre industry 5
Goodyear -An over view 6
Goodyear India 8
Business in India 10
Project title
a Objectives of the study 11
b Methodology adopted 12
c Road map of the project 13
Market share of tyres industry in India 14
Questionnaires 15-17
Data collection 18
Market survey tools 19
Data collection of targeted areas 21-26
Other findings 27
Data analysis of targeted areas 28-29
Limitations and Conclusion for study 31
References 32
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Summary
The tyre industry has evolved from the more basic cross ply to the more sophisticated radial tyres.Nylon cords that impart low weight and additional strength to the tyres have also replaced Cotton plyThis industry is strongly linked to the automobile sector. This industry is also driven by agriculturaland infrastructural activity that takes place in the region, as these two have an impact on the transportsector.
The global tyre market currently is estimated at USD 70 billion while the Indian market is around Rs.100 million. The global market is dominated by Goodyear-Sumitomo with a share of 22%. On the
other hand, the domestic industry is dominated by MRF Ltd. Several mergers and acquisitions havecharacterized the global market, in the recent past. This is essentially to acquire technology, gainwider access to markets and be competitive. Indian players are also reengineering their businessesand looking at strategic tie-ups in this segment.
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THE INDIAN TYRE INDUSTRY
An Introduction to the Indian Tyre Industry
The Rs.20,000 crore Indian Tyre Industry, is highly raw material intensive and predominantly a
Cross Ply (or Bias) tyre manufacturing industry. It is highly concentrated wherein 10 large
manufacturers account for over 95% of the total tonnage production of 11.35 lakh M.T. It
produces all categories of tyres, except Snow Tyres and Aero Tyre for which there is no demand
domestically.
Key Influencers
The level of economic activity, performance of domestic automotive industry, and the faring of the
transport sector directly influence the performance of the tyre industry in India. With the replacement
segment dominating the overall tyre demand, the industry remains inherently vulnerable to economic
cycles. While radialization has become the norm in the passenger car segment, in the bus and truck
tyre segment, its acceptance is still limited. Bus and truck radialization could emerge in the long term
as the quality of roads improves and the restrictions on overloading are better enforced. The practice
of re-treading, which is gaining increasing acceptance, could pose a challenge to replacement demand
in the medium term. The ability of the re-treading sector to capture potential replacement demand
would depend on the awareness among customers (of the benefits of retreading) and also the quality
of retreading done. Given the low levels of penetration of two-wheelers and passenger cars in the
country, OEM demand is likely to increase, which in turn would push up replacement demand with a
lag. Slowdown in automotive industry and global economy in general negatively impacted the Indiantyre industry in 2009. The industry tonnage growth was only 2.19% during first nine months of FY
2009, compared to 7.38% growth experienced during the same period last year. Demand side was also
severely affected as almost all auto manufacturers were forced to adjust their production last year. A
major relief for tyre manufacturers was provided by the government by reducing the excise duty on
tyres from 14% to 10% in December 2008, and further to 8% in February 2009
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Role of Marketing
Over the years, tyre manufacturers have developed a vast marketing network using dealers and
Depots and as such all types of tyres are now easily available even in the remotest corners of the
Country. No doubt, international auto majors in India now roll out their vehicles using Indian
Manufactured tyres.
Sales and Profitability
The Indian Tyre Industry produced 821 lakh units of tyres garnering approximately Rs. 21,000
crore in FY 2009 -2010. The top players are now focusing on branding their products and
strengthening their distribution network so as to increase their market share. The industry derives
Its demand from the automobile Industry. While the OEM (Original Equipment Manufacturers)
Market off take is dependent on the new vehicle sales, replacement market demand depends onthe total population of vehicles on road, road conditions, vehicle scrapping rules, overloading
norms for trucks, average life of tyres and prevalence of tyre retreading.
Current Status & Future Trends
As regards to the demand scenario, the poor demand growth in FY 2009 - 2010 was primarily onaccount of decline in OEM production. Continuation of poor volume growth could affect the
profitability further. Despite these challenges, according to CARE (Credit Rating & Research) Ltd.,
while the industry may register a low tonnage growth in FY 2009, the long term prospective seems to
be bright. They expect the industry to experience a CAGR of approximately 8.21% between FY08 to
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FY13. Automotive companies have started experiencing increasing sales and raw material prices are
stabilizing which will boost tyre sales over the coming months.
Goodyear Tyres- An Overview
The Goodyear Tire & Rubber Companywas founded in 1898 byFrank Seiberling.Goodyear
manufactures tires for automobiles, commercial trucks, light trucks, SUVs, race cars, airplanes, and
heavy earth-mover machinery.
Although the company was not connected with him, it was named in honor ofCharles Goodyear.
Goodyear inventedvulcanizedrubber in 1839. The first Goodyear Tires became popular because they
were easily detachable and low maintenance.
Goodyear is very famous throughout the world because of theGoodyear blimp.
The first Goodyear blimp flew in 1925. Today it is one of the most recognizable advertising icons in
America. The company is the most successfultire supplierinFormula Onehistory, with more starts,
wins, and constructors' championships than any other tire supplier. They pulled out of the sport
afterthe 1998 season.
Goodyear is a former component of theDow Jones Industrial Average
Type : Public (NYSE)
Industry : Manufacturing
Founded : Akron, ohio, 1898
Headquarters : Akron,ohio,U.S
Product : Tires
http://en.wikipedia.org/wiki/Frank_Seiberlinghttp://en.wikipedia.org/wiki/Frank_Seiberlinghttp://en.wikipedia.org/wiki/Frank_Seiberlinghttp://en.wikipedia.org/wiki/Charles_Goodyearhttp://en.wikipedia.org/wiki/Charles_Goodyearhttp://en.wikipedia.org/wiki/Charles_Goodyearhttp://en.wikipedia.org/wiki/Vulcanizationhttp://en.wikipedia.org/wiki/Vulcanizationhttp://en.wikipedia.org/wiki/Vulcanizationhttp://en.wikipedia.org/wiki/Goodyear_Blimphttp://en.wikipedia.org/wiki/Goodyear_Blimphttp://en.wikipedia.org/wiki/Goodyear_Blimphttp://en.wikipedia.org/wiki/Formula_One_tyreshttp://en.wikipedia.org/wiki/Formula_One_tyreshttp://en.wikipedia.org/wiki/Formula_One_tyreshttp://en.wikipedia.org/wiki/Formula_Onehttp://en.wikipedia.org/wiki/Formula_Onehttp://en.wikipedia.org/wiki/Formula_Onehttp://en.wikipedia.org/wiki/1998_Formula_One_seasonhttp://en.wikipedia.org/wiki/1998_Formula_One_seasonhttp://en.wikipedia.org/wiki/1998_Formula_One_seasonhttp://en.wikipedia.org/wiki/Dow_Jones_Industrial_Averagehttp://en.wikipedia.org/wiki/Dow_Jones_Industrial_Averagehttp://en.wikipedia.org/wiki/Dow_Jones_Industrial_Averagehttp://en.wikipedia.org/wiki/Dow_Jones_Industrial_Averagehttp://en.wikipedia.org/wiki/1998_Formula_One_seasonhttp://en.wikipedia.org/wiki/Formula_Onehttp://en.wikipedia.org/wiki/Formula_One_tyreshttp://en.wikipedia.org/wiki/Goodyear_Blimphttp://en.wikipedia.org/wiki/Vulcanizationhttp://en.wikipedia.org/wiki/Charles_Goodyearhttp://en.wikipedia.org/wiki/Frank_Seiberling -
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Goodyear - India
Goodyear's presence in India is over 80 years old, with two plants, one each in Ballabgarh andAurangabad.A chronology of Goodyear's continued success in India is as follows:
1922: Goodyear tyre and Rubber company Akron, Ohio entered the Indian Market.
1961: Goodyear India's own manufacturing facility was inaugurated in Ballabgarh, 32 kms fromIndias capital New Delhi .The plant had an investment of US $12million and was commissionedwithin 12 months.
1965: The Ballabgarh plant was expanded which increased the plant production by 35%
1969-70: The production increased by nearly 100%
1993: Goodyear formed a 50-50 joint venture with South- Asian Tyres Ltd. (SATL) at Aurangabad tomanufacture state-of-art radial tyres for car and light truck and bias construction tyres for gradersand earthmovers.
1996: The first tyre GPS2 radial Passenger was rolled out from Aurangabad plant
1998: SATL becomes a fully owned Goodyear Company
1999: A significant investment of 9.3 MM USD was made in the farm tyre manufacturing process.
2002: Goodyear becomes the first tyre manufacturer to roll out tubeless tyres on Indian roads.
In the passenger car segment, Goodyear supplies tyres to many of the leading Original EquipmentManufacturers in India. These include Maruti, Telco, Mahindra & Mahindra, Ford, Fiat and manymore.Goodyear India has been a pioneer in introducing tubeless radial tyres in the passenger car segment.
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In the farm segment, Goodyear tyres are supplied to all the major Tractor manufacturers like PTL,
ITL, TAFE, Eicher and Escorts. Similarly, for buses and trucks, vehicles rolling out of the assemblyline of the leading OEMs like TELCO, Ashok Leyland, and Swaraj Mazda are often seen withGoodyear tyres.Goodyear commands a major market share in the Off the Road (OTR) segment by being a majorsupplier to Coal India Limited, Escorts, L&T, TISCO and major steel plants of the country.
2004:A very significant year with three product launches including GT3, Eagle F1 and Ducaro GA.
2006: Launch of branded retail shop-in-shop concept a part of the companys strategic initiative
in organized tyre retailing, aimed at strengthening its presence in the large tyre replacement market
in the country. These outlets will offer customers an unmatched tyre purchase experience.
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Business in India
Goodyear Indiasprincipal business is the development, manufacture, distribution andsale of tires and related products and services worldwide. We manufacture and market numerouslines of rubber tires for:
Automobiles
trucks
buses
aviation
motorcycles
earthmoving and mining equipment
industrial equipment, and
various other applications
In each case, our tires are offered for sale to vehicle manufacturers for mounting as originalequipment (OE) and for replacement worldwide. We manufacture and sell tires under theGoodyear, Dunlop, Kelly, Fulda, Debica and Sava brands and various other Goodyear owned housebrands, and the private-label brands of certain customers.
In certain geographic areas we also:
retread truck, aviation and off-the-road, or OTR, tires,
manufacture and sell farm tires
manufacture and sell tread rubber and other tire retreading materials,
provide automotive repair services and miscellaneous other products and services, and
manufacture and sell flaps for truck tires and other types of tires
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Our principal products are new tires for most applications. Approximately 87.1% of our sales in 2008were for new tires, which is consistent with 88.6% in both 2007 and 2006.
Project title
To explore the up countries for tyres & to determine the tyre market potential in thedistrict of raigad and northern railway suburbs
Objectives of the study-
1) To determine the tyre market potential in the various regions of raigad districts and also in thenorthern railway suburbs
2) Tapping the market potential by exploring new tyre dealers
3) Gaining access to the information in the areas on tyre market
4) Determining other tyre brands available with the new tyre dealers
5) Briefing about Goodyear tyres dealing process in case required
General objective is to find out various steps, needed to be taken for increasing the market share ofGoodyear tyres in the outskirts of the Mumbai region .
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Overall view of the market share of all the tyre companies in India in 2007
Major players include MRF Ltd which is the market leader (22% market share) followed closelyby Apollo tyres (21%). The other major players are J.K tyres industries and Ltd (18%).
Ceat Ltd (13%) , Birla Tyres (10%), Goodyear Tyres (7%), and Bridgestone (5%)
On an average, 55% is for the production of replacement market, followed by 29.8% sold toOEMs directly and the remaining is exported.
22%
21%
18%
13%
10%
7%
5% 4%
Market share
MRF
Apollo
J.K tyres
Ceat
Birla
goodyearBridgestone
others
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Questionnaires used while collecting the data
1) Name :
Address:
Mobile no : Landline:
1) Have you heard about Goodyear tyres ?
a) Yes b) No
2) What are your monthly tyre sales?
____________________________________
3) Which kind of tyre Rim segments units like 13, 14 you have?
_____________________________________________
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4) How many outlets you have in this or any other area?
_________________________________________
5) How many tyres you purchase on a monthly average?
_______________________________________________
6) Which tyre brands you have with you?
_____________________________________
7) Would you like to have Goodyear tyres dealership?
Yes
No
If no, reason
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8) If you want dealership with Goodyear tyres what are your expectations?
______________________________________________________
9) Do you purchase tyres from any retailer or directly from the company?
________________________________________________
10)How is the transportation of tyres in your area ?
___________________________________________
11)Which other tyre brands dealership you posses?
_____________________________________________
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12)What kind of complaints you receive from your customers?
_________________________________________
13)Which tyre brands complaints you have faced to maximum extent?
_______________________________________________
14)How is the demand for tyres in your area?
______________________________________________
15)Have you faced with the problems of out of stock anytime?
______________________________________________
**** Thank You ****
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DATA COLLECTION
Data Collection for this project was the most important aspect. All results are based on what data is
actually collected. The following is the basis of data collection:
What is data collection?
Data collection is simply how information is gathered. There are various methods of data collection
such as personal interviewing, telephone, mail and the Internet. Depending on the survey design
these methods can be used separately or combined.
The Data Collection Methodology team (DCM) advises on data collection methods for all business
surveys and the Census.
DCM advises on a diverse range of surveys. To do this the team assesses the various survey processe
at the data collection stage.
Aims
DCM contributes to the development of a common statistical infrastructure for surveys. The team
aims to provide business areas with methodological standards and expert advice on procedures to
minimize error, in order to produce accurate survey estimates and thereby maintain the quality of
data output.
DCM is also involved in ongoing research to assess and improve methods of data collection, and in
developing new ways of collecting data,
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Various MARKETSURVEY TOOLSthat I used for data collection are:
1.) Observations
2.)Interviews
3.)Questionnaires
4.)Discussions
Observation
Observation was generally based on the overall view of the area,concentration of 4 wheelers in thearea,tyre dealer distance from the city. what I found was in many areas the availability of the tyredealers were on the main highway road or in some places they were situated in the centre of the city.
Interviews
Interviewing the tyre dealers gave us excellent knowledge about the know-how of the tyre marke
industry and how it works.
The tyre dealers whom I interviewed they all said that all the available brands at their outlet were
doing good business. As such many a times it happened to be the tyres were out of stock.
They gave us a general idea about the supply chain, and also the various margins and profits involved
Questionnaires
I formulated various questions for target consumers:
Open ended questions which break the ice when the surveyor does not all the possible answers
Close ended questions to collect the data and when all choices are known and quantitative
statistical results are required.
Multiple choice questions
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Certain other important things were kept in mind while formulating the questionnaires:
I measured only one thing at a time.
I ensured that the question was not too intimidating.
Also balanced scales questionnaire used.
I assumed that consumers would not know answers to very specific questions.
I avoided using abbreviations and unnecessary norms.
I maintained logical progression in the ordering of questions.
I chose the survey method because-
To identify customer requirements or preferences.
To assess customer satisfaction, such as identifying or prioritizing problems to address.
To evaluate proposed changes.
To assess whether a change was successful.
Periodically, to monitor changes in customer or employee satisfaction over time
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3 )Virar & palghar
DealerName
Location
TotalMonthl
y
Counter
Potential (inunits)
Potential of
12"RIM
segment
Potential of
13"RIM
segment
Potential of
14"RIM
segment
Potential of
15"RIM
segment
Potential of16"
andaboveRIM
segment
Potential of
LT 4*4segme
nt
Bridgestone
Goodyear
MRF JK Apollo
Michellin
Other
Rajesh&
Gosali
Virar 80 30 20 10 10 5 5
Vinodgoklani
Virar 20 10 5 5
R.FVaraiy
a
Palghar
19 8 3 4 2 2 1 3 3 4 Ceat
BaijuSoman
Palghar
43 13 20 10 25
T
Prakash
Palgh
ar
96 20 15 10 5 6 40 4
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3) Boisar
DealerName
Location
TotalMonthl
y
Counter
Potential (inunits)
Potential of
12"RIM
segment
Potential of
13"RIM
segment
Potential of
14"RIM
segment
Potential of
15"RIM
segment
Potential of16"
andaboveRIM
segment
Potential of
LT 4*4segme
nt
Bridgestone
Goodyear
MRF JK
Apollo
Michellin
Othe
D.C.Ttyres
Boisar 50 18 14 18 Ceat
Manojtyres
Boisar 34 10 10 5 5 2 2 Dunlop
Mamtaenterpris
es
Boisar 70 15 20 12 10 10 3
PunmiyaTyres
Boisar 60 20 10 15 10 5
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4) Khopoli
DealerName
Location
TotalMonthl
yCount
erPotential (inunits)
Potential of12"RIM
segment
Potential of13"RIM
segment
Potential of14"RIM
segment
Potential of15"RIM
segment
Potential of16"and
aboveRIM
segment
Potential of
LT 4*4segme
nt
Bridgestone
Goodyear
MRF JKApol
loMichel
linOth
Kishor
automobiles
Khopo
li
50 25 25
Ankitaautomobi
les
khopoli
50 20 15 15 Ce
Gazityres
Khopoli
140 30 25 30 20 20 15
Patiltyres
khopoli
150 30 30 25 25 25 15 onlyMRF
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5)Shahpur & Murbad
DealerName
Location
TotalMonthl
yCount
erPotent
ial (inunits)
Potential of12"RIM
segme
nt
Potential of13"RIM
segme
nt
Potential of14"RIM
segme
nt
Potential of15"RIM
segme
nt
Potential of16"and
aboveRIM
segment
Potential of
LT 4*4segme
nt
Bridgestone
Goodyear
MRF JK ApolloMichellin
Other
Shreebalaji auto
Shahpur
130 20 30 20 20 20 20
Siddhivinayak tyres
Shahpur
100 25 25 30 20 Ceat
Ganeshtyres
Shahpur
130 25 30 30 20 20 5
Pramodtyres
Murbad
120 30 25 20 25 30 onlyMRF
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OTHER FINDINGS
From the mentioned target areas 3 areas via Shivardhan,wada& solanpurshowed as such nomarket potential for tyres due to non availability of tyre dealers some of the reasons for it were asfollows
1) Areas not fully developed in terms for market
2) Areas are very much far away from the cities
3) Transportation a major problem
4) Very low concentration of four wheeler cars
5) Local people cant afford to purchase four wheeler cars
6) High concentration of two wheelers hence high potential for two wheelers tyre market
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Data analysis of the target areas
Data analysis is the most important part of any project. When youve collected the data, you need toanalyze it too.
As from above you can see the data collected from various places shows the tyre dealers and theirmonthly purchasing capacity in all different RIM segments of tyres for four wheelers
The data can be analyzed with a graph showing the total monthly purchase of tyres for all the exploredareas for tyre market
Analysis of tyre market potential for raigad district areas
In the above plotted graph you can see alibaug shows very high tyre market potential as compared topenn and mahad which shows very low potential. Hence targeting the tyre dealers in alibaug will be a
0
100
200
300
400
500
600
700
Alibaug Penn Mahad
Tyre purchasing Capacity
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very good step in increasing the market share in alibaug also penn and mahad shows very low
potential so company might have to think on its strategy before targeting the dealers in these areas
Analysis of tyre market potential for northern suburbs
In the above chart khopoli shows very higher potential for tyres followed by shahpur and boisarwhich shows little less compared to khopoli.Palghar shows little less than Boisar and Murbad showmoderate demand for tyres.Virar shows least demand amongst all areas for tyres
0
50
100
150
200
250
300
350
400
Virar Palghar Boisar Khopoli Shahpur Murbad
Tyre purchasing capacity
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Limitations of the study
The project will help the company to take future actions to increase market share, improve sales,building relationship with dealers and future schemes to be given, how to improve distributionnetwork and the need for tie-ups with the local tyre dealers etc.
The data collected from the dealers in the form of questionnaires will help the company to know therequirements of the consumers and make change in the sales plan accordingly.
Limitations were the authenticity of the answers given by dealers.
Conclusion
The analysis is done from the data collected from the field work which was assigned by the company.The data is collected from various dealers.
The analysis mainly shows that the four wheeler tyre market for Goodyear India in most of theexplored areas show 150 to 180 tyres potential and in future the potential for it is going to increasetremendously.
Hence considering the current demand and trends, Goodyear India should plan its marketing strategyaccordingly.
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References
www.goodyearindia.co.in
www.wikipedia.org
www.articlesnatch.com
www.domainb.com/tyres
http://www.goodyearindia.co.in/http://www.goodyearindia.co.in/http://www.wikipedia.org/http://www.wikipedia.org/http://www.articlesnatch.com/http://www.articlesnatch.com/http://www.xn--domainb-b16c.com/tyreshttp://www.xn--domainb-b16c.com/tyreshttp://www.xn--domainb-b16c.com/tyreshttp://www.xn--domainb-b16c.com/tyreshttp://www.xn--domainb-b16c.com/tyreshttp://www.articlesnatch.com/http://www.wikipedia.org/http://www.goodyearindia.co.in/