tvs final project
TRANSCRIPT
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concept
of
consumer behaviour
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Meaning
Consumer behaviour is the study of individuals, groups, or organizations and the
processes they use to select, secure, and dispose of products, services, experiences,
or ideas to satisfy needs and the impacts that these processes have on the consumer
and society.
It blends elements from psychology ,sociology, social anthropology and economics.
It attempts to understand the decision-making processes of buyers, both
individually and in groups. It studies characteristics of individual consumers such
as demographics and behavioural variables in an attempt to understand people's
wants. It also tries to assess influences on the consumer from groups such as
family, friends, reference groups, and society in general.
Customer behaviour study is based on consumer buying behaviour, with the
customer playing the three distinct roles of user, payer and buyer. Research has
shown that consumer behaviour is difficult to predict, even for experts in thefield. Relationship marketing is an influential asset for customer behaviour analysis
as it has a keen interest in the re-discovery of the true meaning of marketing
through the re-affirmation of the importance of the customer or buyer. A greater
importance is also placed on consumer retention, customer relationship
management, personalisation, customisation and one-to-one marketing. Social
functions can be categorized into social choice and welfare functions.
http://en.wikipedia.org/wiki/Psychologyhttp://en.wikipedia.org/wiki/Sociologyhttp://en.wikipedia.org/wiki/Social_Anthropologyhttp://en.wikipedia.org/wiki/Anthropologyhttp://en.wikipedia.org/wiki/Economicshttp://en.wikipedia.org/wiki/Demographichttp://en.wikipedia.org/wiki/Consumerhttp://en.wikipedia.org/wiki/Relationship_marketinghttp://en.wikipedia.org/wiki/Social_choicehttp://en.wikipedia.org/wiki/Social_choicehttp://en.wikipedia.org/wiki/Relationship_marketinghttp://en.wikipedia.org/wiki/Consumerhttp://en.wikipedia.org/wiki/Demographichttp://en.wikipedia.org/wiki/Economicshttp://en.wikipedia.org/wiki/Anthropologyhttp://en.wikipedia.org/wiki/Social_Anthropologyhttp://en.wikipedia.org/wiki/Sociologyhttp://en.wikipedia.org/wiki/Psychology -
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FACTORS INFLUENCING CONSUMER
BEHAVIOUR
1. Cultural Factors
Consumer behavior is deeply influenced by cultural factors such as: buyer culture,
subculture, and social class.
Culture
Basically, culture is the part of every society and is the important cause of person
wants and behavior. The influence of culture on buying behavior varies from
country to country therefore marketers have to be very careful in analyzing the
culture of different groups, regions or even countries.
Subculture
Each culture contains different subcultures such as religions, nationalities,
geographic regions, racial groups etc. Marketers can use these groups by
segmenting the market into various small portions. For example marketers can
design products according to the needs of a particular geographic group.
Social Class
Every society possesses some form of social class which is important to the
marketers because the buying behavior of people in a given social class is similar.
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In this way marketing activities could be tailored according to different social
classes. Here we should note that social class is not only determined by income but
there are various other factors as well such as: wealth, education, occupation etc.
2. Social Factors
Social factors also impact the buying behavior of consumers. The important social
factors are: reference groups, family, role and status.
Reference Groups
Reference groups have potential in forming a person attitude or behavior. The
impact of reference groups varies across products and brands. For example if the
product is visible such as dress, shoes, car etc then the influence of reference
groups will be high. Reference groups also include opinion leader (a person who
influences other because of his special skill, knowledge or other characteristics).
Family
Buyer behavior is strongly influenced by the member of a family. Therefore
marketers are trying to find the roles and influence of the husband, wife and
children. If the buying decision of a particular product is influenced by wife then
the marketers will try to target the women in their advertisement. Here we should
note that buying roles change with change in consumer lifestyles.
Roles and Status
Each person possesses different roles and status in the society depending upon the
groups, clubs, family, organization etc. to which he belongs. For example a woman
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is working in an organization as finance manager. Now she is playing two roles,
one of finance manager and other of mother. Therefore her buying decisions will
be influenced by her role and status.
3. Personal Factors
Personal factors can also affect the consumer behavior. Some of the important
personal factors that influence the buying behavior are: lifestyle, economic
situation, occupation, age, personality and self concept.
Age
Age and life-cycle have potential impact on the consumer buying behavior. It is
obvious that the consumers change the purchase of goods and services with the
passage of time. Family life-cycle consists of different stages such young singles,
married couples, unmarried couples etc which help marketers to develop
appropriate products for each stage.
Occupation
The occupation of a person has significant impact on his buying behavior. For
example a marketing manager of an organization will try to purchase business
suits, whereas a low level worker in the same organization will purchase ruggedwork clothes.
Economic Situation
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Consumer economic situation has great influence on his buying behavior. If the
income and savings of a customer is high then he will purchase more expensive
products. On the other hand, a person with low income and savings will purchase
inexpensive products.
Lifestyle
Lifestyle of customers is another import factor affecting the consumer buying
behavior. Lifestyle refers to the way a person lives in a society and is expressed by
the things in his/her surroundings. It is determined by customer interests, opinions,activities etc and shapes his whole pattern of acting and interacting in the world.
Personality
Personality changes from person to person, time to time and place to place.
Therefore it can greatly influence the buying behavior of customers. Actually,
Personality is not what one wears; rather it is the totality of behavior of a man in
different circumstances. It has different characteristics such as: dominance,
aggressiveness, self-confidence etc which can be useful to determine the consumer
behavior for particular product or service.
4. Psychological Factors
There are four important psychological factors affecting the consumer buying
behavior. These are: perception, motivation, learning, beliefs and attitudes.
Motivation
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The level of motivation also affects the buying behavior of customers. Every
person has different needs such as physiological needs, biological needs, social
needs etc. The nature of the needs is that, some of them are most pressing while
others are least pressing. Therefore a need becomes a motive when it is more
pressing to direct the person to seek satisfaction.
Perception
Selecting, organizing and interpreting information in a way to produce a
meaningful experience of the world is called perception. There are three different perceptual processes which are selective attention, selective distortion and
selective retention. In case of selective attention, marketers try to attract the
customer attention. Whereas, in case of selective distortion, customers try to
interpret the information in a way that will support what the customers already
believe. Similarly, in case of selective retention, marketers try to retain information
that supports their beliefs.
Beliefs and Attitudes
Customer possesses specific belief and attitude towards various products. Since
such beliefs and attitudes make up brand image and affect consumer buying
behavior therefore marketers are interested in them. Marketers can change the
beliefs and attitudes of customers by launching special campaigns in this regard.
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IMPORTANCE OF CONSUMER BEHAVIOUR
The modern marketing management tries to solve the basic problems of consumersin the area of consumption. To survive in the market, a firm has to be constantly
innovating and understand the latest consumer needs and tastes. It will be
extremely useful in exploiting marketing opportunities and in meeting the
challenges that the Indian market offers. It is important for the marketers to
understand the buyer behaviour due to the following reasons.
The study of consumer behaviour for any product is of vital importance to
marketers in shaping the fortunes of their organisations.
It is significant for regulating consumption of goods and thereby maintaining
economic stability.
It is useful in developing ways for the more efficient utilisation of resources of
marketing. It also helps in solving marketing management problems in more
effective manner.
Today consumers give more importance on environment friendly products.
They are concerned about health, hygiene and fitness. They prefer natural
products. Hence detailed study on upcoming groups of consumers is essential
for any firm.
The growth of consumer protection movement has created an urgent need to
understand how consumers make their consumption and buying decision. Consumers tastes and preferences are ever chan ging. Study of consumer
behaviour gives information regarding colour, design, size etc. which
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consumers want. In short, consumer behaviour helps in formulating of
production policy.
For effective market segmentation and target marketing, it is essential to have
an understanding of consumers and their behaviour.
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INTRODUCTION
TO
TWO WHEELER INDUSTRY
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ABSTRACTTwo-Wheeler industry is one of the largest industries in the automobile sector of
global market. Being the leader in product and process technologies in the
manufacturing sector, it has been recognized as one of the drivers of economic
growth. During the last decade, well-directed efforts have been made to provide a
new look to the automobile policy for realizing the sector's full potential for the
economy. The liberalization policies have led to continuous increase incompetition which has ultimately resulted in modernization in line with the global
standards as well as in substantial cut in prices. Aggressive marketing by the auto
finance companies have also played a significant role in boosting
automobile demand, especially from the population in the middle income group.
Presently many international brands like Honda, Suzuki, Yamaha etc. are
competing with Indian brands such as Hero, Bajaj, and T V S, etc. to capture
Indian markets. These aggressive marketing strategies have resulted in
making the consumer the major key for success in the industry. Each
produc t o ffe r ing is now des igned to mee t and exceed
the expectations of the consumer. But understanding consumer behaviour
and knowing consumers is never simple. And it is more difficult that to
understand what a consumer perceives about the product. Customers may
say one thing but do another. They may not be in touch with their deeper
motivations. They may respond to influences that change their minds at the
last moment. Small companies such as a corner grocery
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s to re and huge corpora t ions s tand to p rof i t
from understanding how and why their consumers buy.
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TVS MOTORS
COMPANY PROFILE
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COMPAANY PROFILE
TVS Motor Company is the third largest two-wheeler manufacturer in India and
one among the top ten in the world, with annual turnover of more than USD 1
billion in 2008-2009, and is the flagship company of the USD 4 billion TVS
Group.
TVS Motor traces its origins back to the entrepreneurial spirit of Trichur
Vengaram Sundaram Iyengar who gave up lucrative careers in the IndianRailways and in banking to set up his own business. He began with Madurai's first
bus service in 1911 and founded T.V.Sundaram Iyengar and Sons Limited, a
company that consolidated its presence in the transportation business with a large
fleet of trucks and buses under the name of Southern Roadways Limited .[2] When
he died in 1955 his sons took the company ahead with several forays in the
automobile sector, including finance, insurance, manufacture of two-wheelers,tyres and components. The group has managed to run 33 companies that account
for a combined turnover of nearly $3 billion.
http://en.wikipedia.org/wiki/T._V._Sundaram_Iyengarhttp://en.wikipedia.org/wiki/T._V._Sundaram_Iyengarhttp://en.wikipedia.org/wiki/Indian_Railwayshttp://en.wikipedia.org/wiki/Indian_Railwayshttp://en.wikipedia.org/wiki/Maduraihttp://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-2http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-2http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-2http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-2http://en.wikipedia.org/wiki/Maduraihttp://en.wikipedia.org/wiki/Indian_Railwayshttp://en.wikipedia.org/wiki/Indian_Railwayshttp://en.wikipedia.org/wiki/T._V._Sundaram_Iyengarhttp://en.wikipedia.org/wiki/T._V._Sundaram_Iyengar -
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Early Years
Sundaram Clayton, then the flagship company, was founded in 1962 incollaboration with Clayton Dewandre Holdings, United Kingdom. It manufactured
brakes, exhausts, compressors and various other automotive parts. The company
set up a plant at Hosur in 1978 to manufacture mopeds as part of a new
division .[3] A technical collaboration with the Japanese auto giant resulted in the
joint-venture Ind-Suzuki Limited in 1982 between Sundaram Clayton Ltd
and Suzuki Motor Corporation. Commercial production of motorcycles began in
1984.
TVS motors in recent days
Over the years TVS Motor has grown to be the largest in the group, both in terms
of size and turnover, with four state of the art manufacturing plants in
Hosur, Mysore and Nalagarh in India and Karawang in Indonesia. TVS Motor is
credited with many innovations in the Indian automobile industry, notable among
them being the introduction of India's first two-seater moped, the TVS 50cc. The
company became the leader in its category of sub 100 cc mopeds, having sold
7 million units. It also introduced the TVS Scooty, which is India's second largest
brand in the scooterette segment. The TVS Jive launched in November 2009
became India's first clutch- free motorbike aimed at a stress-free rider
experience[8]
while the unisex scooter TVS Wego is targeted at urban couples,featuring body-balance technology for easier handling. On 1 June 2012, TVS
Motors reported a dip of 5% in its total sales for May 2012. In July 2012, TVS
Motors and BMW Motorrad were reported to be in talks for technology sharing .[11]
http://en.wikipedia.org/wiki/Hosurhttp://en.wikipedia.org/wiki/Mopedhttp://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-3http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-3http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-3http://en.wikipedia.org/wiki/Suzukihttp://en.wikipedia.org/wiki/State_of_the_arthttp://en.wikipedia.org/wiki/Mysorehttp://en.wikipedia.org/wiki/Nalagarhhttp://en.wikipedia.org/wiki/Karawanghttp://en.wikipedia.org/wiki/Indonesiahttp://en.wikipedia.org/wiki/TVS_Scootyhttp://en.wikipedia.org/wiki/Clutchhttp://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-8http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-8http://en.wikipedia.org/wiki/Unisexhttp://en.wikipedia.org/wiki/TVS_Wegohttp://en.wikipedia.org/wiki/TVS_Motorshttp://en.wikipedia.org/wiki/TVS_Motorshttp://en.wikipedia.org/wiki/BMW_Motorradhttp://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-11http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-11http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-11http://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-11http://en.wikipedia.org/wiki/BMW_Motorradhttp://en.wikipedia.org/wiki/TVS_Motorshttp://en.wikipedia.org/wiki/TVS_Motorshttp://en.wikipedia.org/wiki/TVS_Wegohttp://en.wikipedia.org/wiki/Unisexhttp://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-8http://en.wikipedia.org/wiki/Clutchhttp://en.wikipedia.org/wiki/TVS_Scootyhttp://en.wikipedia.org/wiki/Indonesiahttp://en.wikipedia.org/wiki/Karawanghttp://en.wikipedia.org/wiki/Nalagarhhttp://en.wikipedia.org/wiki/Mysorehttp://en.wikipedia.org/wiki/State_of_the_arthttp://en.wikipedia.org/wiki/Suzukihttp://en.wikipedia.org/wiki/TVS_Motor_Company#cite_note-3http://en.wikipedia.org/wiki/Mopedhttp://en.wikipedia.org/wiki/Hosur -
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Awards and Recognition
TVS Motor won the Deming Application Prize in 2002, becoming the first and
only Indian two-wheeler company to win the award given to companies that do
outstanding work in the field of Quality Management. It is considered to be one of
the world's most prestigious quality awards. The same year, the work done for the
TVS Victor motorcycle won TVS Motor the National Award for successful
commercialization of indigenous technology from the Technology Development
Board, Ministry of Science & Technology, Government of India. In 2004, TVSScooty Pep won the 'Outstanding Design Excellence Award' from Business
World magazine and the National Institute of Design, Ahmedabad. The effective
implementation of Total Productivity Maintenance practices won TVS Motor the
TPM Excellence Award given by the Japan Institute of Plant Maintenance in 2008.
TVS Motor has won several management awards, notable among them being the
Emerging Corporate Giant in the Private Sector awarded by The EconomicTimes and the Harvard Business School Association of India. Business Today
magazine awarded TVS Motor the Best Managed Company and the Most Investor
Friendly Company awards. Its advertising practices won it the Good Advertising
award by Auto India Best Brand Awards 2009. Company Chairman Venu
Srinivasan is a recipient of several awards for corporate excellence such as the Star
of Asia Award by Bloomberg Business Week and the JRD Tata Corporate
Leadership Award. The University of Warwick, United Kingdom gave him an
honorary Doctorate of Science degree while the Government of India honoured
him with the Padma Shri, one of India's highest civilian distinctions.
http://en.wikipedia.org/wiki/Deming_Prizehttp://en.wikipedia.org/wiki/Quality_Managementhttp://en.wikipedia.org/wiki/Ministry_of_Science_and_Technology_(India)http://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/BusinessWorldhttp://en.wikipedia.org/wiki/BusinessWorldhttp://en.wikipedia.org/wiki/National_Institute_of_Designhttp://en.wikipedia.org/wiki/Ahmedabadhttp://en.wikipedia.org/wiki/Total_productive_maintenancehttp://en.wikipedia.org/wiki/The_Economic_Timeshttp://en.wikipedia.org/wiki/The_Economic_Timeshttp://en.wikipedia.org/wiki/Business_Today_(Business_Magazine)http://en.wikipedia.org/wiki/Venu_Srinivasanhttp://en.wikipedia.org/wiki/Venu_Srinivasanhttp://en.wikipedia.org/wiki/Bloomberg_BusinessWeekhttp://en.wikipedia.org/wiki/University_of_Warwickhttp://en.wikipedia.org/wiki/Doctor_of_Sciencehttp://en.wikipedia.org/wiki/Padma_Shrihttp://en.wikipedia.org/wiki/Padma_Shrihttp://en.wikipedia.org/wiki/Doctor_of_Sciencehttp://en.wikipedia.org/wiki/University_of_Warwickhttp://en.wikipedia.org/wiki/Bloomberg_BusinessWeekhttp://en.wikipedia.org/wiki/Venu_Srinivasanhttp://en.wikipedia.org/wiki/Venu_Srinivasanhttp://en.wikipedia.org/wiki/Business_Today_(Business_Magazine)http://en.wikipedia.org/wiki/The_Economic_Timeshttp://en.wikipedia.org/wiki/The_Economic_Timeshttp://en.wikipedia.org/wiki/Total_productive_maintenancehttp://en.wikipedia.org/wiki/Ahmedabadhttp://en.wikipedia.org/wiki/National_Institute_of_Designhttp://en.wikipedia.org/wiki/BusinessWorldhttp://en.wikipedia.org/wiki/BusinessWorldhttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Ministry_of_Science_and_Technology_(India)http://en.wikipedia.org/wiki/Quality_Managementhttp://en.wikipedia.org/wiki/Deming_Prize -
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Innovative implementation of Information Technology has won TVS Motor the
Ace Award for Most Innovative Net Weaver Implementation in 2007 awarded by
technology major SAP AG and the Team Tech 2007 Award of Excellence for
Integrated use of Computer-aided engineering Technologies.
Manufacturing Excellence
Launch of 7 vehicles on the same day - Manufacturing Excellence makes this
feasible
At the heart of the new product launches is the Production Team, setting to motion
the dream put forward by the R&D.
Driven by the Five Pillars of TQM
The management philosophy is based on five pillars of TQM (Total Quality
Management) which rests on the foundation of Total Employee Involvement, daily
management and Kaizen (Continuous improvement).
The Total Employee Involvement
The Total Employee Involvement program ensures that responsibility for the
company's performance is the shared responsibility of all levels of employees. It
provides all employees with the opportunity to be involved in breakthrough
activities and other improvements, over and above their daily routine.
Daily work managementDaily work management consists of defining and monitoring key processes,
ensuring that they meet set targets, detecting abnormalities and preventing their
recurrence. TVS Motor encourages continuous improvement in all aspects of work,
http://en.wikipedia.org/wiki/Information_Technologyhttp://en.wikipedia.org/wiki/SAP_NetWeaverhttp://en.wikipedia.org/wiki/SAP_AGhttp://en.wikipedia.org/wiki/Computer-aided_engineeringhttp://en.wikipedia.org/wiki/Computer-aided_engineeringhttp://en.wikipedia.org/wiki/SAP_AGhttp://en.wikipedia.org/wiki/SAP_NetWeaverhttp://en.wikipedia.org/wiki/Information_Technology -
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using Cross Functional Teams (CFT), Supervisory Improvement Teams (SIT)
Quality Control Circles (QCC) and suggestion schemes
The five pillars start with policy management, which is used to arrive at the annual
breakthrough objectives. There are generally not more than three company
objectives, arrived at after a detailed exercise, which are deployed and reviewed
periodically.
The company conducts an exhaustive range of training programs, utilising both in-house skills and consuftants from all over the world. The programs are conducted
for all employees, at all levels.
The Inspiration Moment
When we won the Deming Prize in Quality in 2002, we were the only two wheeler
manufacturer in the world to have won the award. However, our penchant for
quality continues as we work in line with the principles of Kaizen (Japanese for
Continuous improvement) and TQM (Total Quality Management).
TVS Motor company Ltd (TVS Motor)- member of the TVS group is the largest
company of the group in terms of size and turnover.
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MARKET
RESEARCH
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INTRODUCTION
Market Research is a process of systematic gathering, recording, and analyzing of
data about customers, competitors and the market. Market Research can help in
creating a business plan, launch a new product or service, fine tune existing
product or service, expand into new markets, etc. It can be used to determine which
portion of the population will purchase product or service, based on variable age,
gender, location and income level. It can be used to find out what market about
current and potential customers.
The purpose of market research is to help companies make better business
decisions about development and marketing of new products. Market research
represents the voice of the customers in a company.
We define marketing research as the systematic design, collection, analysis and
reporting of data and findings relevant to a specific marketing situation facing the
company -Philip Kotler
The systematic gathering, recording , and analysis of data about the problems
relating to the marketing of goods and services
-American Marketing Association
In this particular market research we focused on two important aspects which
influence buying behavior, product selection and building customer lifetime valuethese are:
Perception
Satisfaction
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Research Design
A research design is a framework or blueprint for conducting marketing research
projects. It specifies the details of the procedures necessary for obtaining the
information needed to structure and /or solve marketing research.
There are three types of research design:
Figure 1: Different types of Research Design
Exploratory Research Design: A type of research design, which has its primaryobjective the provision of insight into, comprehension of, the problem situation
confronting the researcher.
Research Design
ExploratoryResearch Design
DescriptiveResearch Design
ConclsignusiveResearch Design
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Descriptive Research Design: A type of conclusive research that has as its major
objective the description of something usually market characteristics or function.
Conclusive Research Design: Research designed to assist the decision maker in
determining, evaluating and selecting the best course of action taken in a given
situation.
In our research study we used a combination of all three designs, i.e., exploratory
research, descriptive research and conclusive research design since it demands
various types of information. In our research not only perception and satisfactionlevel of customer are checked but other important perspective are also measured
such as usage pattern and a conclusive result of cause and effect pattern is also
checked.
SAMPLING
For the purpose of our market research as said earlier a combination of all threetypes of research design was adopted. Our research design included the survey of
consumers using TVS bikes and scooters so as to check their perception and
satisfaction level.
Primary data was collected with the help of sampling method and complete
sampling design process was used.
The sampling design process includes five steps. These steps are closely
interrelated and relevant to all aspects of market research project. Therefore,
sample design decision was selected in research project.
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TARGET POPULATION: TVS customers of Patna SAMPLING FRAME: Random Sampling Method SAMPLE SIZE: 100 EXECUTION: Personal Interview
SOURCE OF DATA
In our research project we used both primary as well as secondary data obtainedfrom different sources and survey.
Primary Data: Primary data are obtained from the structured set of formal
questionnaire. Various customers were randomly personally interviewed regarding
the various purchasing pattern and the parameters with the help of number of
questions which were mainly close ended.
Secondary Data: Relevant and related data were also collected from the various
secondary sources like internet, newspapers, magazines, journals, management
books, etc.
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TARGET SEGEMENT
Target segment the collection of elements or objects that possesses the
information sought by the researcher and about which inferences are to be made.
In our research project we divided the market into six major segments.
They are businessman, professionals, students, employee, housewife, and others.
Figure 3: Target segments
Businessman
Professionals
Students
Others
Housewife
Employee
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AREA of OPERATION
Area of operation is the target area where the execution of the sampling takes
places. It is the field of area where the researcher goes and performs his or her
research work. It is also called field area or field work. It includes finding the
target segment, conducting the survey, conducting personal interview of each
target element.
Area of operation : Patna
Area Covered: Whole Patna Survey Period: 1 st March to 29 th March
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LIMITATIONS
Although the study has been done with proper care, certain shortcomings could not
be ruled out.
The various limitations are as follows:
Limitation of time: In a short span of 4 weeks, it was not possible to cover
each every area. Therefore only selected and important area was considered.
Limitation of sample size: Only 100 respondents were selected which isinadequate of a large organization like TVS Motors.
Insufficiency of data: The response of some of the respondents might be a
biased one.
In any case, market study is not exact science. It relates to the responses given by
the customer/ respondents as against the question pertaining to their behavior and
preferences. Most of the responses are subjective in nature. Mathematicaldeduction is possible but the accuracy of data is bound to suffer from biasness and
prejudices of the respondents, no matter what be the degree of sophistication.
Hence, this being the universal deficiency of market research, may have affected
this particular research as well.
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MARKET
ANALYSIS
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INTRODUCTION
This research was aimed at finding the perception and satisfaction level of
customer using TVS Motors products and TVS Scooty. With this research not
only perception level and satisfaction level was checked but market share, brand
preference and buying behavior was also examined.
Since perception plays a very important role in the buying behavior of the
customer, the values they perceived helps them in selecting the brand.
Similarly, satisfaction also plays a very important role in binding the customer.
If a customer is satisfied with the brand then he will use the brand otherwise he
will switch over to another brand.
In this chapter, we will see data collected from the consumers and respondents and
analysis and interpretation of such data in order to derive sufficient conclusion.
Collection of data and their interpretation and analysis takes the main time of the
research project and there may be a chance of errors and biasness. Extreme care is
taken in collection of data and their interpretation and analysis.\
In the first section, data of general information are analysed, then perception and
satisfaction level are taken.
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DATA COLLECTION
This area involves the study of a set of statistical method or statistical techniques.
Data are broadly categorised as primary and secondary. The collection of
primary data in this study is done by the questionnaire method. Primary data are in
the shape of raw materials to which statistical method are applied for the purpose
of analysis and interpretation, where as secondary data are collected from different
sources like internet, magazine, newspaper, etc.
This section is subdivided into general information, perception and satisfaction
level. Data collection of these three category are taken in their respective headings.
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ANALYSIS AND FINDINGS
1. TARGET AGE GROUP.
C
Total number of respondents 100.
0
510
15
20
25
30
35
40
45
50
18-25 25-40 40-55 >55
RESPONDENTS BELONGING TODIFFERENT AGE GROUP
NO OF RESPONDENTS
AGE NO.OF
RESPONDENTS
RESPONDENTS IN
%
18- 25 39 39 %
25-40 26 26%
40-55 21 21%
> 55 14 14%
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2. GENDER
SEX NO OF
RESPONDENTS
RESPONDENTS
IN %
MALE 74 74%
FEMALE 36 36%
Total number of respondents 100.
74%
36%
RESPONDENTS IN TERMS OF GENDER
MALE
FEMALE
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3. RESPONDENTS BELONGING TO DIFFERENT PROFESSION:
OCCUPATION NO. OF RESPONDENTS RESPONDENTS IN %
BUSINESS 16 16%
EMPLOYEE 26 26%
STUDENT 45 45%
OTHERS 13 13%
Total number of respondents 100
0
5
10
15
20
25
30
35
40
45
50
BUSINESS EMPLOYEE STUDENT OTHERS
OCCUPATION
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4 .SOURCE OF AWARENESS ABOUT TVS MOTORS:
Source No. Respondents Respondents in %
Friends and
Relatives
37 37%
Advertisements 45 45%
Others 18 18%
Total number of respondents 100
37%
45%
18%
SOURCE OF AWARENESS ABOUT TVSMOTORS
Friends and Relatives
Advertisements
Others
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5. SATISFACTION LEVEL OF THE CUSTOMERS ABOUT THE
PRODUCT BRIEFING DONE BY THE SALES EXECUTIVE?
OPPINION NO OF
RESPONDENTS
RESPONDENTS IN %
SATISFIED 84 84%
NOT
SATISFIED
16 16%
Total number of respondents 100
16%
84%
CUSTOMERS SATISFACTION LEVELIN RESPECT OF PRODUCT BRIEFING
NO
YES
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7. SATISFACTION LEVEL OF THE CUSTOMERS IN RESPECT OF
AFTER SALES SERVICE PROVIDED BY THE DEALER?
OPINION NO. OF
RESPONDENTS
RESPONDENTS IN %
SATISFIED 77 77%
NOT
SATISFIED
23 23%
Total number of respondents 100
23%
77%
CUSTOMERS OPINION ABOUT AFTERSALES SERVICE
NOT SATISFIED
SATISFIED
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8. TVS TWO WHEELER MODELS MARKET SHARE:
MODEL NO. ofRESPONDENTS % OFRESPONDENTS
SCOOTY 41 41%
VICTOR 12 12%
STAR CITY 15 15%
WEGO 9 9%
CENTRA 3 3%
APPACHE 20 20%
Total number of respondents 100
0
5
10
15
20
25
30
35
40
45
TVS Model's Market Share
TVS MODELS
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9. RANKING OF THE ATTRIBUTES OF THE TVS BIKES AND
SCOOTERS AS PER THE PREFERENCE OF THE CUSTOMERS.
RANK 1 MOST ATTRACTIVE, RANK 6 LEAST ATTRACTIVE.
PREFERENCE NO OF RESPONDENTS RESPONDENTS IN %
STYLE 11 11%
PERFORMANCE 28 28%
BRAND NAME 14 14%
MILEAGE 19 19%
COMFORT 21 21%
PRICE 7 7%
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Total number of respondents 100
0
0.05
0.1
0.15
0.2
0.25
0.3
CONSUMER'SPREFERENCE FOR DIFFERENTATTRIBUTES OF TVSPRODUCTS
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10. WHAT IS YOUR OPINION ABOUT THE PERFORMANCE OF TVS
SCOOTY?
OPINION NO OF RESPONDENTS RESPONDENTS IN %
Excellent 28 56%
Good 11 22%
Satisfactory 8 16%
Poor 3 6%
Total number of respondents 50
56%22%
16%3%
CONSUMER'S OPINION ABOUT THEPERFORMANCE OF TVS SCOOTY
VERY GOOD
GOOD
SATISFACTORY
POOR
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11. FACTORS INFLUENCING THE CUSTOMER FOR THE
PURCHASE OF TVS SCOOTY.
FACTORS NO. OF RESPONDENTS RESPONDENTS IN %
STYLE 6 12%
BRAND NAME 9 18%
COMFORT 16 32%
MILEAGE 8 16%
PERFORMANCE 11 22%
Total number of respondents 50
22%
16%
32%
18%
12%
CUSTOMER'S PREFERENCETOWARDS DIFFERENT ATTRIBUTES
OF TVS SCOOTY
PERFORMANCE
MILEAGE
COMFORT
BRAND NAME
STYLE
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12. CUSTOMERS PREFERENCE TOWARDS TVS SCOOTY WITH
RESPECT TO OTHER COMPANIES SELLING THE SAME
PRODUCT:
BRAND NAME NO. OF
RESPONDENTS
RESPONDENTS IN
PERCENTAGE
HERO 22 22%
TVS 27 27%
HONDA 38 38%
SUZUKI 10 10%
MAHINDRA 3 3%
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Total number of respondents 100
FINDINGS FROM THE STUDY1. Out of the total number of respondents, maximum respondents were from
the age group of 18-25 years. 39% of the respondents belonged to this group.
This suggests that TVS bikes and scooters are preferred among the younger
section of the society. 26% of the respondents belonged to the age group of
25-40 years. This age group consists of young as well as middle aged
people. This shows that TVS motors product is more popular among
younger generation of the society. Its product such as TVS Apache and TVS
Scooty is very popular among younger generation because of its sporty look
and good performance.
22%
27%38%
3%10%
CUSTOMER'S PREFERENCE FOR TVSSCOOTY WITH RESPECT OF OTHER
COMPANY'S SIMILAR PRODUCT
TVS
HERO
HONDA
MAHINDRA
SUZUKI
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2. Out of the total number of respondent 71 were male and 39 were female.
Female have a good liking for this brand because its product Scooty is a
favourite among them.
3. Advertisement is the biggest source of awareness among all the respondents
with 45% agreeing to it. 37% of the respondents said that they purchased or
came to know about the TVS motors or its products from family and friends.
18% of the respondents belonged to the other category which comprised of
sales promotion and other means.
4. Out of the total respondents surveyed,16% of the target group belonged to business profession, 26% worked as employees under different organization,
45% were students and 13% belonged to other category which comprised of
housewifes, retired persons, etc. this clearly makes it evident that majority of
the TVS users are students and young people.
5. Out of the total number of respondents surveyed, 84%, i.e. majority of them
were satisfied with the product and 16% were not satisfied. Among the
satisfied customers, some of them confessed that they have been using the
product for more than 5 years and they never faced any problem with the
product. Majority considered the product to be very durable and sturdy.
Some businessmen also used their bikes for transporting goods from the
market place and remarked that their bikes made them do it very
conveniently.
6. In respect of overall sales process, 20% of the respondent considered it to be
very good, 71 % considered it as good, and the remaining 9% said it was
poor. Among those who considered it to be good said that all the queries
were dealt with and the staffs did their best to make the entire purchase
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process hassle free. Those who considered it to be poor said that the entire
process was time taking and at times were unresponsive.
7. However, when it comes to after sales service provided by the company, the
satisfaction level among the customer takes a hit as compared to satisfaction
level in using the product. In contrast to 84% of the respondent being
satisfied with the product, only 77% of the customers were satisfied with the
after sales service. Those not satisfied with the product complained that the
staffs are unresponsive and are not able to meet the expectation at times.
Some said that in some cases the condition of the vehicle deteriorated afterthe service instead of improving.
8. Out of all the respondents surveyed, 41% of them used Scooty, 20% used
Appache, 12% used Victor, 15% used Star City, 9% used Wego and 3%
used Centra. Scooty and Appache are two largest selling vehicle for TVS
Motors and it shows that it is a popular choice among youngsters.
9. When the respondents were asked to rank the attributes of TVS Motors,
Performance secured the top rank with 28% of the respondents agreeing to
it, comfort was 2 nd most important attribute with 21% of the respondents
agreeing to it. It was followed by mileage at 19%, brand name at 14%, style
at 11% and price came last at 7%. Respondents agree that TVS Motors
product is good on performance in both rural and urban condition.
Respondents, especially women, swear by the comfort level of Scooty.
Respondents were also of the view that TVS vehicles were good on mileage
and on an average its products gave mileage of around 50-55 kmpl in city
conditions.
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10. When respondents were asked to rate the performance of Scooty, 56% of
them considered it to be excellent, 22% considered it to be good, it was
satisfactory for 16% of the respondents and 6% considered it as poor.
Majority of the responded were very much satisfied with the performance of
Scooty and this is the reason for it being one of the highest selling scooter in
India. So much so that Scooty has become the staple name for all the
scooters.
11. When respondents were asked to rate the factors responsible for purchase of
Scooty, for 32% of the respondents it was the comfort provided by Scooty, performance came 2 nd at 22%, followed by brand name at 18%, mileage at
16% and style came last at 12%. Scooty is very popular among female
because of it offers great comfort. Respondents said that it is light weight
and easy to handle and this feature makes it ideal for the use among ladies.
Respondents were also of the view that Scooty is a very good performing
vehicle and due to this reason even some young boys and housewives prefer
to use Scooty. Scooty is by far the most popular scooter available in the
market and respondents also considered the brand name of TVS Scooty as a
factor responsible for purchase.
12. However, in terms of other brand preference for similar product, the
respondents had most preference for Honda at 38%, Hero came 2 nd at 27%,
TVS came 3 rd at 22% followed by Suzuki at 10% and Mahindra at 3% . It
must be noted that Hondas Activa is the largest selling scooter in India and
it enjoys a very good brand preference even from non users. Hero has
Pleasure and Maestro in offering and even these are popular among masses.
TVS, apart from Scooty has Wego in its stable and therefore people still
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CONCLUSION
AND
RECOMMENDATION
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CONCLUSION
To conclude, it can be said that TVS motors being an indigenous company has
managed to maintain a hold on Indian customers and masses but over the years it is
facing stiff competition from companies like Hero and Honda in motorcycle
segment and scooter segment as well. In the scooter segment the competition is
tougher as the presence of companies like Suzuki, Mahindra, and Yamaha with one
or more products.
TVS Motors was 3 rd in terms of market share in India but its position is over taken
by Honda and now TVS Motors is lagging at 4 th position.
This downfall is mainly because it has not been able to offer anything new to the
customer. There only premium offering, Appache is 6 years old. In mid segment,
they have TVS Star City which itself is 7 years old. Therefore, lack of new and
modern bikes is hurting TVS Motors very much.
Their largest selling product is TVS Scooty and they are too much dependent on it.
Both Scooty and Wego are considered as scooter for ladies and market is
dominated by Hondas unisex scooter Activa.
The consumers experience with the after sales service is not as good as the
experience of using the product. This has proved to be a dent on companys image.
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RECCOMMENDATION
In order to regain the position and market share, the company urgently needs some
new product in different categories. It cannot remain dependent on its old
offerings.
Female constitutes a small segment as compared to male segment. It cannot only
rely on Scooty because masses prefer something which is appealing to both the
sex, i.e., male and female. Thats why Hondas Activa is the most preferred scooter
as it is preferred by both the section of the society. Therefore, the company must
develop a new scooter which is appealing to both male as well as female. It has
also been observed that scooter segment is fastest growing segment in auto
industry and more and more people are preferring scooter because it is easy to use
and handle. It is safer than motorcycle.
In todays competitive environment, selling the product is not the only thing. In
order to retain the customers and maintain the brand loyalty, a company must keep
the customer satisfied even after the sale is made. So, the role of after sales service
becomes all the more important. Therefore, the company must focus on providing
better after sales service to its customers.
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BIBLIOGRAPHY
www.wikipedia.com www.icra.in www.tvsmotors.in Consumer Behaviour- Schiffman and Raunak
http://www.wikipedia.com/http://www.wikipedia.com/http://www.icra.in/http://www.icra.in/http://www.tvsmotors.in/http://www.tvsmotors.in/http://www.tvsmotors.in/http://www.icra.in/http://www.wikipedia.com/ -
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QUESTIONNAIRE1. Name:
2. Age: 18-25 25-40 40-55 >55
3. Sex: Male Female
4.
How did you come to know about about TVS Motors?Family and Friends Advertisements Others
Q1. Whether Training is given adequate importance in your organization
a. Strongly agree b. Agree
c. Strongly Disagree d. Disagree
Q2. The Skill learnt in Training and Development program are helpful to me.
a. Strongly agree b. Agree
c. Strongly Disagree d. Disagree
Q3. Training is periodically evaluated and improved the performance level.
a. Strongly agree b. Agree
c. Strongly Disagree d. Disagree
Q4. The HR Department conducts briefing sessions for employees before the
actual training program.
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Q10. Senior management takes interest and spends time with the new staff
during induction training.
a. Yes b. No
Q11. Quality of the Training programme needs to be improved.
a. Yes b. No
Q12. Employees are given appraisal in order to motivate them to attend the
training. Do u agree with this statement?
a) Strongly agree b) Agree
c) Somewhat d) Disagree
Q13. What are the skills that the trainer should possess to make the training
effective?
a) Technical skills b) People skills or Soft skills
c) Generalist makes better Personnel managers than Specialist
d) Fond of talking to people
Q14. What are the general complaints about the training session?
a) Take away precious time of employees
b) Too many gaps between the sessions
c) Training sessions are unplanned
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