A FINAL REPORT ON “TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE” (WITH SPECIAL REFERENCE TO RETAILERS OF SURAT CITY) DURATION OF RESEARCH 14 TH JULY TO 24 TH OCT. 2008 PREPARED BY JAGDISH PAREEK ENROLL NO:-7NBSU022 GUIDED BY MRS. M. LAKHNI SUBMITTED TO: MRS. M.LAKHNI
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A
FINAL REPORT ON
“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
(WITH SPECIAL REFERENCE TO RETAILERS OF SURAT CITY)
DURATION OF RESEARCH 14TH JULY TO 24TH OCT. 2008
PREPARED BY JAGDISH PAREEK
ENROLL NO:-7NBSU022
GUIDED BY MRS. M. LAKHNI
SUBMITTED TO: MRS. M.LAKHNI
ICFAI NATIONAL COLLEGE, SURAT
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ACKNOWLEDGEMENT
It is a great pleasure to have this opportunity to express my regards and sense of
gratitude to my guide Mrs. Mehrunisha lakhni it is due to their encouragement and
proper suggestion this project work could not be finished without their help in the
time limit prescribed by the university.
I am also thankful to marketing faculties’ for its valuable advice and help .I
can not miss the opportunity to acknowledge my respected Principle Mr. minocha for
their help and support. I am also thankful to all staff of Icfai College for their
coordination.
I own my sincere thanks to Mr. Punit Agarwal (Prop. of M/S. Shivani Motors)
and Mr. Amit Agarwal for their coordination & help in accomplishing my project
report at this moment. I am also very much thankful to my parents & brother for their
continue encouragement and moral support during the project.
Last but not least I am also thankful to my friends who supported me during
the deed of the project work.
Jagdish Pareek
Icfai National Collage
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DECLARATION
I hereby, declare that the project report entitled “the research of Consumer Behavior on purchasing Hero Honda Motor Cycle”(with special reference to Surat city ) is the result of my own research and hard work to two month during the academic year (2008-2009)
I submit this Project Report to ICFAI NATION COLLEGE for the partial completion of my MBA Program and I assume that the same topic has not been presented by me at any other examination of any university. All the data presented in this dissertation are the fact.
Place:-SURAT Jagdish
Pareek
Date: Icfai National College
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EXECUTIVE SUMMARY
In the present business environment it is very difficult for any business to survive.
For survival every business unit has to differentiate it from others and to give certain
benefits to its customers keep doing business in long run.
Discount is seen as promotional tool by many businesses. By giving huge discount
to customer, retailers want to maintain long term relationship with them.
In today’s fast and developing world every person wants to try to manage their
speed. Every Individual has wish to complete their work with high efficiency and
beyond the certain time limits. People use many source to maintain their speed
according to this era motorcycle is one of them. This project is directly relate it.
The objective of my survey was to study buying behavior of Hero Honda
Motorcycles. In this survey I have used personal survey method.
The sample size for the research kept in mind seeing the size of Surat city, and it is
200 people for survey. And for survey I used area sampling method and judgmental
method.
After demeanor the survey, I had done the analysis and finding of the buying
behavior of Hero Motorcycles in Surat city.
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Abbreviation
ABC - Active Body ControlABS - Antilock Brake SystemAC - Alternating CurrentA/C - Air ConditioningACC - Adaptive Cruise ControlACC - Air Conditioning ClutchACC - Automatic Climate ControlAccel - AccelerationACCS - Air Conditioning Cycling SwitchAccum - AccumulatorAccy - AccessoryACD - Air Conditioning DemandACE - Active Cornering EnhancementACL - Air cleanerACM - Airbag Control ModuleACM - Audio Control ModuleACR4 - Air Conditioning Refrigerant, Recovery, Recycling, RechargingB+ - Battery positive (voltage)BARO - Barometric (pressure)BAS - Brake Apply Sensorbatt - BatteryBBV - Brake Booster VacuumBCA - Bias Control AssemblyBCM - Body Control ModuleBECU - Body Electronic Control UnitBFC - Body Function ControllerBHP - Brake HorsepowerC3I - Computer Controlled Coil IgnitionCAA - Canadian Automobile AssociationCAA - Clean Air ActCAB - Controller, Antilock BrakeCAC - Charge Air CoolerCAFC - Company Average Fuel Consumption (Canada)CAFE - Corporate Average Fuel Economy (USA)CAMM - Computer Aided Manufacturing MeasurementCAMS - Computerized Automotive Maintenance SystemCAN - Controlled Area NetworkCANP - Canister Purge (solenoid)CARB - California Air Resources BoardCARS - Canadian Automotive Repair and Service CouncilCASE - Cranking Angle Sensing Error
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E4OD - Electronic 4-Speed Overdrive
E85 - Ethanol 85 percentEA - Electronic AcceleratorEAC - Electronic Air Control (replaced with AIR)EAIR - Electronic (secondary) Air Injection ReactionEAS - Electrically Assisted SteeringEAS - Electronic Air Switching EATC - Electronic Automatic Temperature ControlEBC - Electronic Brake ControlEBCM - Electronic Brake Control ModuleEBD - Electronic Brake force DistributionEBM - Electronic Brake ModuleEBP - Exhaust Back PressureEBTCM - Electronic Brake and Traction Control ModuleIMDX - Integrated Mini Disc ChangerIMLUT - Inspection/Maintenance Look-Up TableImmo - ImmobilizerIMPR - In-use Monitor Performance RatioIMRC - Intake Manifold Runner ControlIMRC F - Intake Manifold Runner Control Fault YES/NO IMRCM - Intake Manifold Runner Control Monitor Input Bank 1 VOLTSIMRCM2 - Intake Manifold Runner Control Monitor Input Bank 2 VOLTSIMS - Inductive Magnetic SaturationIMS - Instant Mobility SystemIMSC - Intake Manifold Swirl Control IMSC F - Intake Manifold Swirl Control Fault LSEGR - Linear Solenoid Exhaust Gas RecirculationLSP and BV - Load Sensing Proportioning and Bypass Valve
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I n d e xChapter No Subject Page No.
Chapter:- 11.11.21.3
Chapter:- 2
2.12.22.32.42.52.62.7
Chapter:- 33.13.23.33.43.5
Chapter:-44.14.24.34.44.54.64.7
Chapter:-55.1
Chapter:-66.16.2
Chapter:-7Chapter:-8
8.18.2
Industrial Back groundHistorical Industry DevelopmentIntroduction about companyIntroduction about Shivani Motors Pvt. Ltd.Concept of Consumer Behaviour.
Concept.What is Consumer Behaviour?Buying Behaviour Model.A model of Consumer Behaviour.The Birth of Buying idea.Factors Influencing Consumer Behaviour.Buying Decision Process.Introduction of the Problem.Title of the ProjectStatement of the ProblemResearch ObjectiveImportant of the StudyScope of the Study
Research MethodologyMarketing ResearchResearch designData Collection MethodResearch Measuring InstrumentQuestionnairePilot StudySample design.
Data Interpretation and analysisDemographic AnalysisSummaryFindingSuggestionConclusionAnnexureBibliography
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INDUSTRY DETAIL
THE FIRST MOTORCYCLE
"Who invented the first motorcycle?" It seems like a simple question, but the
answer is a bit complicated. Just as the automobile was the answer to the 19th-
century dream of self-propelling the horse-drawn carriage, the invention of the
motorcycle created the self-propelled bicycle.
Motorcycles are descendents of the "safety" bicycle-bicycles with front and
rear wheels of the same size, and with a pedal crank mechanism to drive the rear
wheel. Those bicycles, in turn, were descended from high-wheel bicycles. The high-
wheelers were descended from an early type of pushbike, without pedals, propelled
by the rider's feet pushing against the ground. These appeared around 1800, used
iron-banded wagon wheels, and were called "bone-crushers," both for their jarring
ride and their tendency to toss their riders.
The first commercial design was a three-wheeler built by Edward Butler in
Great Britain in 1884. It employed a horizontal single-cylinder gasoline engine
mounted between two steerable front wheels and connected by a drive chain to the
rear wheel. However, it would perhaps be incorrect to call it a precursor of the two-
wheeled genre of vehicles.
The person credited with building the first motorcycle in 1885 is Gottlieb
Daimler (who later teamed up with Karl Benz to form the Daimler-Benz Corporation).
The gasoline-run vehicle had one wheel in the front and one in the back, with a
smaller, spring-loaded outrigger wheel, on each side. Powered by a single-cylinder
Otto-cycle engine, it may have had a spray-type carburetor also (since Daimler's
assistant, Wilhelm Maybach was working on the invention of the spray carburetor at
the time). The motorcycle was constructed mostly of wood, with the wheels being of
the iron-banded.
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FUTURE DEVELOPEMENT
Most of the development during the early phase concentrated on three- and
four-wheeled designs since it was complex enough to get the machines running
without having to worry about them falling over. The next notable two-wheeler was
the Millet of 1892. It used a five-cylinder engine built as the hub of its rear wheel.
The cylinders rotated with the wheel and its crankshaft constituted the rear axle.
The first successful two-wheeler, though, was the Hildebrand & Wolfmueller,
patented in Munich in 1894. It had a step-through frame, with its fuel tank mounted
on the down tube. The engine was a parallel twin, mounted low on the frame, with
its cylinders going fore-and-aft. The connecting rods linked directly to a crank on the
rear axle, and instead of using heavy flywheels for energy storage between cylinder
firing, it used a pair of stout elastic bands, one on each side of the cylinders, to help
out on the compression strokes. It was water-cooled, and had a water tank/radiator
built into the top of the rear fender.
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(1980) and various others joined association with M/S Vijay Agricultural Implements
and established long term relationship. Even Today the firm in Bihar and its
branches in Gujarat are growing at a tremendous rate and its presence is being felt
in the Surat area with the newly acquired Dealership of the prestigious HERO
HONDA Dealership for Surat.
OUTSTANDING PERFORMANCE AND ACHIEVEMENTS
1) Shivani Motors Pvt Ltd, Varachha Road, Surat Opened its gates on the 26 th
Sept, 2002 and has been in the forefront of HERO HONDA sales & service
ever since.
2) The sales figure for the first Three Months for a newly eastablished
dealership is a new record at HERO HONDA & is quoted as mark of
outstanding sales effort from Shivani Team.
3) The Genuine Spares sales reached a record 3 lacs in the first month itself
and promises to grow from the retail counter at the location workshop.
4) The design of the entire showroom and in built workshop/warehouse & further
construction was done at a seemingly impossible time frame of 4 months flat.
It’s a vision and dedication to this exercise that realized this goal & The
shivani team is looking forward to grow in near future.
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Market players
Bajaj Auto: The company registered a 32% growth in the sales of
motorcycles much above the industry average of 19%. Bajaj Auto has
emerged as a market leader in the entry level or price segment motorcycle
with the Bajaj CT 100 accounting for nearly 40% of the market share. It also
commands a 62% market share in the premium segment of motorcycles with
products like the Bajaj Pulsar DTSI
TVS : It stand out from all other two wheeler company in the country is that it
is without any foreign collaboration. The company was established by T.V
Sundaram Iyengar in the year 1911 and was primarily into the production of
mopeds. TVS Motor Company Limited, the flagship company of the USD 2.2
billion TVS Group, is the third largest two-wheeler manufacturer in India and
among the top ten in the world, with an annual turnover of over USD 650
million. The company has many first to its credit like the introduction of the
first indigenous moped and a 100 cc motorcycle in collaboration with
Japanese auto giant Suzuki.
Kinetic Motor: Kinetic has launched India's first motoscooter in the form of
Kinetic Blaze. Kinetic Blaze is a 165 cc scooter which seeks to revolutionize
the diminishing scooter market in the country. The product is a first of the
seven series of vehicles which Kinetic want to acquire from the Italian two
wheeler giant Italjet Spa.
Suzuki Motor: The company has started its India operation with three mass
market motorcycles and is also expected to come up with a 150 cc high
performance set of two wheelers soon. The company has a manufacturing
capacity in Gurgaon to churn out over one lakh motorcycles annually. The
company employs around two hundred people and will step up its production
capabilities as and when required. Some higher end models are also
expected to be rolled out of the Suzuki factory soon.
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Honda Motors: Honda Motors Co. Ltd. is a renowned Japanese engine
manufacturer and engineering corporation. Although Honda is known all over for its
motorcycles and automobiles, it also manufactures products such as scooters,
trucks, aeronautical, robots, electric generators, jets, jet engines, water crafts, ATV
beside others. The best-known Honda luxurious cars are acknowledged as Acura in
North America and China. Recently, Honda came up with mountain bikes called
Honda RN-01 G-cross. The Power of Dreams- is the motto of Honda . True to its
slogan, Honda definitely turns dreams into reality
Royal Enfield: The new age biking concept was ushered into the country with the
advent of first batch of Enfield bikes which were manufactured indigenously, since
then these bikes have become as much a part of the Sergeant stable of Kolkata to
the business minded milkman in Uttar Pradesh. However it's only the beginning of
the contrast, these bikes are also a prized possession of the rebellious college
student in any part of the country. The bikes are a part of the domain of the
hardcore bike enthusiast who wants to stretch the limits of biking.
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OBJECTIVE
Primary objective
The primary objective of my research is ‘To Know Consumer Buying Behavior of Hero Honda motorcycle’
Secondary objective
To find out brand awareness of hero Honda and its competitor.
To study consumer behavior about purchasing of Hero Honda Motorcycle.
To find out the consumer buying pattern.
To study which sources of media really reach to consumer or which highly nearer
to consumer
To study the buying of consumer financial schemes.
To find out consumer buying pattern.
To find out in term of improvement in promotional tools.
Important of the Study:-
The study helpful for the manufacturing in formulating the strategies and
suitable marketing mix to improve the sales of Hero Honda two wheeler Vehicle and
taking note of important required in some of the product. Because at the study is
based on the consumer survey if will help the company to understand the consumer
need and wants properly and in acceptable will get the concerned product more &
more of their choice.
The study will also provide basic data help in the research organization for
future study and research in area of two-wheeler vehicles industries. At automobiles
industries.
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RESEARCH METHODOLOGY
Research methodology is a systematic design collection of analysis, reporting of
data and finding relevant to specific marketing situation that is faced by the
company. Properly conduct of market survey is a required tool for top management
in decision making in order to conduct a useful and objective market research. A
research methodology only then the studies conduct can be properly elaborated and
commented on so I have conduct research and it include some sub-point and it is
given below.
1. Formulating the research problem :-
According to the marketing research process, the first step is the
identification of the problem or defining the objective. My objective of the project
is to study “The Research Work of Consumer Buying Behavior of Hero Honda
motorcycle”. After the objective is defined, next I have to formulate that objective,
for that great effort is required.
2. Choice of research design :-
A research design specifies the idea about sampling methods, sources of
data and method of data collection for conducting a particular study. I will use
descriptive research design.
3. Determining the source of data :-
I will use two types of data basically for my survey, those are as follows:
(1) Primary data:-
Primary data is the data which can collect by the researcher at the first
hand when the needed data is not exist or are dated inaccurate, incomplete and
unreliable, the researcher has to collect the primary data will be collected
through observation, personal interview and questionnaire. I will get primary data
in terms of personal interview by filling the questionnaire.
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(2) Secondary data:-
Secondary data which have been gathered earlier for some purpose. I
will use secondary data as which available in company site
www.gujaratsrtc.com for company details. I will also use secondary data for
industry details, from the different web sites which will mention in to
bibliography.
4. Designing the data collection forms :-
The data collection phase of marketing research is generally the most
expensive and most prone error. I will use primary data collection method as the
data collection method. For that purpose I have decided to go for survey method.
The personal survey will used by me. I will prepare the questionnaire for
collecting the data by personal survey.
5. Personal interview :-
Personal interview is the most versatile method of primary data
collection method. I will conduct a personal interview because the respondents
would easy to contact and get response. For this I will conducted the survey for
collecting the reposes from the respondents.
6. Determine the sampling design and sample size :-
Sample design:-
I will decide to go for sample survey because the population survey is
out of reach. The population survey consumes more time and money, and
therefore the sampling survey was better for my project.
Sample size involved the questions like “How many people should be
surveyed?”
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Sample size:
The statistical formula for sample size is:
n = p * q (z / e) 2
Where, n = Sample Size
p = Probably of Future Buyer
q = 1-p
e = Tolerable Error
z = The z score associated with the
degree of confidence selected.
Here, p = 0.40, q = 0.60, e = 0.10, z = 1.00, n =? n
= p * q (z / e) 2
n = 0.40 * 0.60 (1.96 / 0.10) 2
n = 0.24 * (19.6) 2
n = 0.24 * 384.16
n = 92.20
So I have taken approximately 100 samples as sample size.
7. ORGANIZING AND CONDUCTING THE FIELD SURVEY:
Having prepared the questionnaires and selected the sample design and size of
sample, I will go for conducting a field survey. For field work I personally meet
various retailers for filling up my questionnaires. I will also take help of y some of the
friends for filling up my questionnaires. I will take care that they give better
understanding to persons from whom they filling my questionnaires.
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8. PROCESSING AND ANALYSING THE COLLECTED DATA:
When I am complete my field survey, I will process the collected data and analyze it
in a systematic manner so as I can derive results from it. In order to derive
meaningful outcomes from the data, I will form the data in a tabular and graphical
representation and then use various statistical tools to interpret the data to derive
meaningful findings from the data.
9. PREPARING THE RESEARCH REPORT:
After data had been tabulated, interpreted and analyzed, I will prepare my report
embodying the findings of my research study and my recommendations. I will
prepare my report in several parts to make it easy to understand to others. I will
divide my report into chapters such as-
I. Executive summary
II. Introduction of industry
III. Introduction of companies
IV. Objective of project
V. Methodology of the project
VI. Limitation of the project
VII. Findings and analysis of research
VIII. Conclusions and suggestions
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CONCEPT
Knowledge of the buying behaviour of consumer is essential for a market. The consumers bring the changes in the market. It is essential task for marketing behaviour of target Market.
The Consumer market consist the individual and household the buy goods and Services for personal consumption. It is attempted to understand and predict human actions in the buying role. It has assumed growing in the importance under Market Oriented or Customer Oriented working planning and Management.
Consumers very tremendously in age income adulation level and Preferences. Marketer finds it useful to distinguisia different consumer groups and to develop products and services tailored to their needs. Consumer behaviour always involves choice.
Buying behaviour includes acts of individual directly involves in obtaining and using economics Good and Services includes sequences of decision processes that proceed and determine these acts. Actual purchase is only a part of the decision process in buyers behaviour we consider not only why now and what people buy other factors. Such as where how offer and under in find analysis buyer is one of the most important keys to successful Marketing.
WHAT IS CONSUMER BEHAVIOUR
The wealth and services product in a country make an economy strong. Almost all the product which are available to buyer, have a number of alternative supplies that is suitable products are available to customers. Who make a decision to buy products? There fore, a seller most of his time seeks buyers and tries to please them. In order to successful, a seller is concerned with:
Who is Consumer? What do Consumers buy? When do Consumers buy? How do Consumers buy? From where do Consumers buy? Why do Consumers buy?
A buyer makes a purchase of a particular product or a particular brand and this can be termed “Products buying Motives” and the reason behind the Purchase from particular Seller is “Patronage Motives”.
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The buyer may take a decision whether to save or spend the money. When he decision to spend them there are many problems as to what to purchase because needs are numerous. This leads to ranking the needs in terms of priority. Those the problems are consumption problems where to buy whom to buy etc.
A MODEL OF CONSUMER BEHAVIOUR
In earlier times Markets could understand consumers through the daily experience of selling to them. But the growth in the size of forms and Markets has removed many Marketing decisions from direct contract with customers increasingly; numbers have had to turn to consumer research.
The Company that understands how Consumer will respond to different Product features, price, advertising appeals and so on will have an enormous advantage over the competitors. Therefore business and academic marketing researching have invested much energy in researching the relationship between marketing stimuli and Consumer’s response.
Marketing stimuli including Four P –– Products, Price, Place, and Promotion. Environmental stimuli consist economic technological political and cultural. All of these stimuli pass through the buyer’s black box and Produce the buyer Purchase decision shown. On the Product choice, brand choice, dealer choice, Purchase timing, Purchase amount.
BUYING BEHAVIOUR MODEL
Out Side StimuliMarketingProductPricePlacePromotion
OtherEconomicTechnologicalPoliticalCultural
Buyer’s Black boxBuyerCharacteristics
BuyerDecision
Buyer’s ResponseProducts Choice
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BrandDealerPurchasePurchase
ChoiceChoiceAmountTiming
THE BIRTH OF BUYING IDEA
Mr. Hiren owns a bike. The bike causing or dissatisfactions because of some defects or troubles in it. He decisions anticipates the idea of a troubles free and dependable bike. He decides not to buy a bike of the same make, because of dissatisfaction and lack of confidence. Thus a thought seed about a new bike is born in him, the movement he thinks. “I must replace the bike” the buying idea comes up with the thought in his mind, he thinks of the benefit, and this leads to future thinking what sort of a bike will give the benefit he wants. The benefits make two desires. He makes the desire. He may bike, which can give the desire benefit. He makes enquires an.
Observation through talking to his friends, he selects one or two possible bike. By this he wants to confirm his decision about the make he wishes to buy. He reads advertisement about the new bike. He chooses one with all the possible advantage and which is wholly dependable. Mr. Hiren is a prospective Customer to dealer.
FACTORS INFLUENCING CONSUMER BEHAVIOUR
Factor influencing the consumer behaviour are internal needs, motives, perception and attitude as well as external- family, social group, cultural, economic, business influences, etc.
1. Economics Factors.An economics factor of buying behaviour is undisplinary it assumes that Consumers are economics. When are they follow the principle of maximization of utility based on the low of diminishing Managerial utility. As economic when, consumer evaluations rationally the alternative in terms of cost and value received. They try to maximize their utility or satisfactory while spending them scarce resources of time, energy and money.
2. Psychological FactorsPsychology has contributed much to the markers to understand the buyer’s psychology explains how consumers learn about a product and how they can recall from the memory. The development of buying habits, this includes the following factors:
a) Motive:-A buying motive is the reason why a person buys a particular products. It is
the driving force behind buying behaviour and may be based on psychological or
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psychological want marketers are in rested in patronage motives such as store loyalty and brand loyalty.
b) Perception:-Perception causes the behaviour in a certain way perception influences this
behaviour. It gives direction to the taken by the behaviour. It the meaning we have on the bases on our past dependence.
c) Learning:-Learning refers to changes in behaviour brought about by practice or
experience. Almost every timing one does or timing is learned product features such as price quality services, brand, packing, etc. Act as hints influencing consumer’s response.
d) Attitude:-Attitude is a state of mind of fillings it includes a per disposition to behave in
source way. Attitude core very important in explaining buyer’s behaviour. A change in attitude leads to changes purchasing attitude and modify buyer behaviour knowledge of consumer attitude can product redesigning packages and developing and evaluating promotional programs.
e) Personality:-In general perception attitude belief lead collectively to a consistent response
by the individual to his environment. This consistent pattern or behaviour is termed as personality its primary teachers are self-concept role and level of consciousness.
3. Social FactorsThis includes the following factors:
a) Family:-Most consumers belong to a family group. The family can exert considerable
influence in shaping the pattern of consumption and indicating the decision making role personal value attitude and buying habits have been shaped by family influences.
b) Reference Group:-The small group to which the buyer belongs influence buyer behaviour. A
human being is considered as a social animal spending much of his or her life in group situation, group norms direct attention of its member to a new style of a product.
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c) Social Class:-As a predictor of consumption patterns marketing management is familiar
with social classes consumers, buying behaviour is determined by the social class to which they cespires rather than by their income belong. Proudly speaking we have distant social classes’ upper, middle and lower classes usually stress rationality, exhibit sense of choice making whereas consumers of lower classes have essentially no rational purchases and show limited sense of choice making. The three social classes will have differences in the stress they patronize. The magazines they read and abutting and furniture they select social class may act as one criterion for market segmentation.
d) Culture:-A culture is as distinctive way of life of a group of people their complete
design for living it is the man made pan or man’s environment the sum total of his knowledge. Belief morals customers. Art laws etc it includes the attitude and values of a whole society and affects the ways in which we do things, see tuniy, use things and judge things in every culture. European culture, American culture etc. Marketing strategies can developed for each culture separately.
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BUYING DECISION PROCESS
The process consists include following step:
Recognition of an unsatisfied need
Identification of alternatives
Evaluation of alternatives
Purchase Decision
Post purchase decision
1. Recognition of an unsatisfied need:-When a person has an unsatisfied need the buying process begins to satisfy the needs generally the unsatisfied need leads to tension. The nature of the want indicates the speed with which a person moves to fulfill the unsatisfied want which is of high pressing need on the basis of need and its urgency forms the order of pointy.
2. Identification of Alternatives:-Different alternatives are available in the market the consumer must know the brand of the product which gives maximum satisfaction and the person has to source out for relevant information of the product brand location etc.
3. Evaluation of Alternatives:-This is a critical stage especially with regard to the costly items consumers have different alternatives. The attributes tastes color price durability etc. have different preference the marketers must understand this process.
4. Purchase Decision:-By considering the likes and dislikes of alternatives one is about to take a decision as to buy one will consider with reference to product type price quality etc. A seller can facilitate such consumers to understand the products through advertisements.
5. Post Purchase Decision:-Feedback information is important as for as a seller is concerned. A brand preference maturely repeats sales to a marketer. A satisfied buyer is a silent advertisement. A satisfying dependence of a buyer tends to strengthen the brand preference.
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Questionnaire
THE RESEARCH FOR CONSUMER PERCEPTION ABOUT PURCHASING HERO HONDA BIKES
“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
5) How did you come to know about this HERO HONDA Bike?
News paper Hoarding Magazine Advertising Television Showroom banner On road Friend/Relative
6) On which specific occasion did you purchase HERO HONDA two-wheeler Bike?
On festival Get promotion Bike required On birthday When you start job when you go married
7) Who promotes you to purchase this HERO HONDA Bike?
Family member Relative Friend For other
8) Do you considered any consumer incentive before purchasing HERO HONDA Bike?
Yes No
9) What important criteria you considered while purchasing the HERO HONDA Bike? (Multi tick mark)
Price Average Pick up Design Company image Maintenance CC of engine
10) Main reason for you to selecting this particular model?(Rank any five in ascending order)
Good looks/ stylish Reasonable price Low maintenance cost Auto Start Fuel efficiency Engine capacity Pick up
11) You had to purchase your Bike on?
Cash basis Corporate buying Loan from bank Loan from financial institute
12) From where you will purchase your Bike?
Shivani motors Dhru motors Siddhi automobiles
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
13) You will use this Bike mainly for? (Multiple Tick mark)
Going with family Going to college Travelling for field work Community work
14) Any comments or suggestion. ________________________________________________
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Que: 1
Objective: To know Brand Awareness of Hero Honda Motorcycles.
BRAND AWARENESS
Brand No. of Respondent %
Hero Honda 100 100%
Bajaj 100 100%
Suzuki/Tvs 95 95%
LML 92 92%
Escort 85 85%
Other 90 90%
Interpretation:
Bran awareness is an important factor now days. Hero Honda and Bajaj have a 100% brand awareness which is become competitive advantage for them. Other Bike manufacturer has slight less brand awareness which they can increase by promotional activities and quality service.
Que: 2
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Objective: To Know Future Purchaser of Hero Honda Motorcycles.
Detail No. of Respondents Percentage
Yes 65 65%
No 45 45%
Total 100 100%
Interpretation:
65% of respondents want to purchase Hero Honda Bikes in future. It means Hero Honda has a good future aspects and can sell more bikes than competitors mainly Bajaj. 45% of respondents don’t want to Hero Honda Bikes, and they prefer other bikes. Hero Honda can attract those customers by providing them other benefits.
Que: 3
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Objective: To know which model of Hero Honda bikes, he/she wants to purchase.
Model No. of Respondents %
CD-Deluxe 7 10.76%
CD-Down 3 4.61%
Splendor 18 27.69%
Glamour 7 10.77%
Passion 19 29.23%
CBZ 8 12.31%
Karizma 2 3.07%
Ambition 1 1.54%
Total 65 100.00%
Interpretation:
From the above chart, we conclude that consumer purchase passion and splendor bikes. After, that CBZ comes which is stylish and powerful bike, more preferred by youngsters. Other Bikes have not much demand because CD-Deluxe and CD-Dawn are for lower middle class and Karizma is for Higher Upper class bikes. Glamour and Ambition fails in Market and have not much demand and company introduce new model of glamour which increase the glamour demand to around 11%.
Que: 4
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Objective: To know future demand for other bikes manufacturer.
Brand No. of Respondent %
Bajaj 27 60%
Suzuki/Tvs 8 17.78%
LML 3 6.66%
Escort 2 4.44%
Other 5 11.11%
Total 45 100%
Interpretation:
In other company’s Bike purchaser, most share (60%) is covered by Bajaj Auto which has also 100% brand awareness and a major competitor of Hero Honda. Other bike manufacturers are having very less percent of future prospects and they have to come with good quality consumer preferred bikes to compete in the market.
Que: 5
Objective: To know the media by which consumer come to know about bikes.
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Media Preferred by RespondentsMedia No. of Respondents %
News Paper 19 19%
Hoarding 6 6%
Magazine 3 3%
Television 22 22%
Showroom Banner 7 7%
On Road 18 18%
Friend/Relative 25 25%
Total 100 100%
Interpretation:
Most important media by which consumers come to know about Bikes are television and News Papers with 22% and 19% respectively. They are most effective source to advertise and promote new and existing models of bikes for Hero Honda and other Bike Manufacturer.
Que: 6
Objective: To aware about the time which customer uses to purchase Bike.
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Time No. of Respondents %
On Festival 18 18%
Get Promotion 11 11%
Bike Required 41 41%
On Birthday 6 6%
When you start job 16 16%
When you go married 8 8%
Total 100 100%
Interpretation:
Most peoples purchase bikes when they have needed to purchase Bike. Many people purchase bikes when they start job (16%) or get promotion in job (11%). On festival also many consumer purchase bikes to take advantages of promotional offers.
Que: 7
Objective: To know that who affects the most while taking the purchase decision.
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Detail No of Respondents Percentage
Family Member 30 30%
Friends 25 25%
Relatives 15 15%
Show Room/ Dealer 10 10%
Past Users 20 20%
Total 100 100%
Interpretation:
In purchasing decisions many peoples take part especially in the cases of costly and durable product like Bike. Many people affect the consumers’ decision of purchase. In those family members (30%), friends (25%), Past Users (20%), Dealers (10%), and relatives (15%) affect the consumers’ decision.
Que: 8
Objective: To aware about the effect of promotional scheme on consumer.
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Affect by Incentives No. of Respondents Percentage
Yes 85 85%
No 15 15%
Total 100 100%
Interpretation:
As per above chart, consumers are purchases bikes when they get promotion incentives for purchasing Bikes. 85% of consumers affect by the promotional schemes and incentives and purchase bike when they get more incentives. 15% of consumers are not wait for incentive scheme and make purchase of Bike without any incentive expectation.
Que: 9
Objective: To aware about the purchasing criteria for purchasing Hero Honda Bike.
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Criteria No. of Respondents Percentage
Prices 14 14%
Average 23 23%
Pickup 18 18%
Design 9 9%
Company image 17 17%
Maintenance 12 12%
CC of Engine 7 7%
Total 100 100%
Interpretation:
While purchasing bike, consumers considers a number of criteria’s such as price, average, company image, maintenance cost, etc. Average is most important criteria for purchase bike with 23%, after that comes company image (17%), Pick up (18%) and price (14%).
Que: 10
Objective: To know the reason for purchasing Hero Honda Bike.
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
As above mentioned consumer looks for many things before purchasing Bike. 26% of consumer looks for reasonable price bike, while 19% of consumer looks for fuel efficient bike. 15% want Auto start bike and !3% want stylish bike. 11% have low maintenance cost is important whereas 9% shows engine capacity and 7% shows pick up of Bike.
Que: 11
Objective: To aware purchase pattern of consumer of hero Honda Bikes.
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Detail No. of Respondents Percentage
Cash Basis 54 54%
Loan from Bank 26 26%
Loan from financial Institute 15 15%
Corporate Buying 5 5%
Total 100 100%
Interpretation:
Purchase pattern is important factor for bike dealers as many people wants purchase bike with cash whereas many purchase with loan from bank or financial institute and take advantage of installment payment. Here more respondents want to purchase with cash (54%).
Que: 12
Objective: To know the location from which consumer purchase Hero Honda Bikes.
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Show Rooms No. of Bike Purchased Percentage
Shivani Motors 24 24%
DhruAuto 47 47%
Siddhi Auto 29 29%
Total 100 100%
Interpretation:
Consumer purchase from the location which is more benefited to him such as near to house or more quality after sales provides. 47% of Hero Honda Bike consumer of Surat City purchases bikes from the DhruAuto whereas 29% from Siddhi Auto and 24% from Shivani motors.
Que: 13
Objective: To aware about the purpose of Bike purchased by the consumer of Hero Honda.
Detail No. of Respondents Percentrage
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
Going with Family 24 16.78%Going to College 17 11.89%Traveling for field work 47 32.87%Community work 55 38.46%
Total 143 100.00%
Interpretation:
Bikes are useful for many purposes such as for go to office, college and other places. Hero Honda purchaser use bikes most frequently for community work (38%) and office use (32%). Consumer purchase bike for college going use is 17%.
Finding:-
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
1. About 22%, 19%, 25%, Respondents are come to know about the Hero Honda
from Television, News Paper and Friend/Relatives.
2. The Criteria of Select the Hero Honda Motorcycle the Most of the Service man
Trade shop Owner and Business man the give the importance of the Average
Pick up and Price and also maintenance consideration.
3. About 28%, 30%, 12%, respondents will purchase splendor, Passion and CBZ
respectively produced by the Hero Honda Company.
4. About 60%, respondents will Purchase a Bajaj Motorcycle, 18% respondents will
purchase a Suzuki / TVS Motorcycle and 11% respondents will Purchase other
Bikes if they won’t purchase Hero Honda.
5. Most of Respondents Purchase a Motorcycle on bike required and festival and
students preferred it to buy when they start Job.
Suggestions
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
1. Hero Honda co. is suggested to make improvement in their vehicle considering
the C.C. and Maintenance cost occur after sales.
2. Company and dealer are suggested to concentrate on advertising print Media
like Hoarding, Magazines, and adverting Banner. So it can help both them to
increases their sales.
3. No. of Competitors entered in the market so Consumers are sifting towards
others. So, company is suggested to more concentrate on consumer by creating
more dealers in city. Dealers are advise to provide better quality after sales
service to retain consumer and for mouth publicity.
4. The company should come out with its own financial company and provide
attractive finance like Low down payment, low rate of interest to attract
customers.
Conclusion
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“TO KNOW CONSUMER BUYING BEHAVIOR OF HERO HONDA MOTORCYCLE”
After the completing my research on the topic of “The research of consumer
Perception About purchasing Hero Honda Bike” it concluder that Customer
satisfaction is the one major part of the buying behaviour consumer needs arise
time to time and its changes time to time.
Company has to Build strong brand awareness and credibility among its customers.
It is good for Hero Honda that majorities of people are aware about its brand that
Hero Honda has earned enough to keep conditions contact with customer market
and to constantly carry out R & D in production of two wheeler and marketing the
same to the different destination. They try to produces such vehicles that attract the
customer.
BIBLIOGRAPHY
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