TRAINING PROJECT REPORT
A
TRAINING PROJECT REPORT
ON
A Study of Customer Perception with special reference to TVS
Motors
A Training Project Report
Submitted in partial fulfillment of the requirements for the
Award of the degree of
Bachelor of Business Administration
University of Kota , Kota (Raj.).
Academic Session 2014-2015Submitted to: - Submitted by:-
Mrs. PRIYA CHOUDHARY
Mr. VISHAL BHARGAVA
Lecturer (MIMT)
BBA-III YEAR
MODI INSTITUTE OF MANAGEMENT AND TECHNOLOGY, KOTA
Affiliated To University Of Kota, Kota (Rajasthan)
PREFACE
Good decisional research project result in helping to make the
best decisions that can be made at the least cost of making it.
Marketing is a subject for all people and all seasons. We all
live be exchanging something so marketing is the study of exchange
process, how transitions are initiated, motivated, facilitated, and
consummated.
Marketing management deals with how organizations and people can
better manage their exchange activities to produce income for
themselves and satisfaction for others. Marketing consist of asset
of principles for choosing target markets, evaluating customer
needs, developing wants satisfying products and service, and
delivering value to customers and profit to the company. Effective
marketing decisions are based on sound information; the function of
marketing research is to provide information that will assist
marketing managers in making decisions.
The report is a humble attempt to sketch the various important
attempts of promotional activities of TVS Motors.
This project report will helpful in analysis the costumer
perception and how this helps TVS Motors to make increase in
sales.
ACKNOWLEDGEMENTI feel immense pleasure in expressing a whole
hearted thanks to all the officials who have guided me all the way
through my training in the organization of Maheshwari Motors,
Kota.I express my deep gratitude to Mr. Anil Maheshwari (Managing
Director), Mr. Pankaj Gupta (Sales Manager) of Maheshwari Motors,
Kota. Provided me an insight into the working in Maheshwari Motors
that enhanced my knowledge and with their support & cooperation
this training has taken a presentable form.
Its a pleasure of the researcher to have guidance Mrs.Priya
Choudharyof Lecturer MODI INSTITUTE OF MANAGEMENT AND TECHNOLOGY,
KOTA in for his valuable suggestion & encouragement I express
my sincere acknowledgement to efforts of the personnel of various
personnel of Maheshwari Motors whose informative guidance motivated
me to understand various dynamics of the Maheshwari Motors.VISHAL
BHARGAVADECLARATION
I hereby declare that the presented report entitled A Study of
Customer Perception with special reference to TVS Motors is based
on the original work and indebtedness on other work \ publication
has been duly acknowledged at relevant place.
Submitted By:
VISHAL BHARGAVA BBA Part-IIIEXECUTIVE SUMMARY
It would be safe to say that most companies engage in some form
of promotional activity every day of the year. Promotion is one of
the four Ps of marketingprice, product, place, and promotion.
Promotion is generally thought of as a sequence of activities
designed to inform and convince individuals to purchase a product,
subscribe to a belief, or support a cause. All of the various tools
available to marketing managers for promotional activities
constitute what is known as the promotional mix.Marketing managers
use different components of the promotional mix as tools for
achieving company objectivesadvertising, personal selling, public
relations, and sales promotion. Each of these elements can be
further divided into additional subcomponents or strategies. The
majority of a company's promotional resources are usually spent on
these four elements for a simple reason: Companies perceive these
methods as the most effective means to promote their products.
Other specialized promotional techniques, however, are also used to
enhance promotional objectives.TVS Motor is the third largest
two-wheeler manufacturer in India and ranks among the top ten
globally. It is the first company in the world to be honoured with
The Deming Prize for Total Quality Management. The company was the
first in India to launch 2-seater 50cc moped and 100cc
Indo-Japanese motorcycles. At present TVS Apache, TVS Victor, TVS
Scooty, TVS Centra and TVS Fiero are the popular bikes in Indian
market.In meeting customers' requirements and measuring customers'
satisfaction indexes, customer perception should be definitely a
key consideration. Qualified services in the operation execution
layer, technical management layer and business development layer
are necessary. However, it is even more important to efficiently
understand customer expectations and make efforts to exceed their
expectations. Therefore, customer perception management becomes a
central topic. Frankly speaking, among all indexes in customer
satisfaction management, the biggest challenge is customer
perception management, or customer perception satisfaction.The main
objective of this study is to know the customer perception
regarding TVS product line.CONTENTSS.No.
TOPIC
Chapter I
Company Profile Chapter II
Conceptual Frame Work Chapter- III
Project Profile
Chapter- IV
Research Methodology Chapter VI
Findings, Conclusion and Limitation
Chapter VII
Suggestion & Recommendations
Bibliography
Appendices
CHAPTER 1
COMPANY PROFILE
TVS MOTOR COMPANY LIMITED-
AN INTRODUCTION
"Inspiration In Motion"TVS Motor Company is one of the premiere
automobile companies in India. The word TVS stands for TV Sundaram
Iyengar and Sons Limited which is the holding company for the TVS
Group of companies. The firm is engaged in the manufacturing of
almost all kinds of automotive components, two wheelers and a few
other industrial products. The company was founded by TV Sundaram
Iyengar in 1911. The company is headquartered in Chennai and its
manufacturing and R&D units are located at Mysore and Hosur,
near Bangalore, and Baddi in Himachal Pradesh. TVS Motor Company is
the first two-wheeler manufacturer in the world to be honored with
Deming Prize for Total Quality Management.TVS Motor is the third
largest two-wheeler manufacturer in India and ranks among the top
ten globally. It is the first company in the world to be honoured
with The Deming Prize for Total Quality Management. The company was
the first in India to launch 2-seater 50cc moped and 100cc
Indo-Japanese motorcycles. At present TVS Apache, TVS Victor, TVS
Scooty, TVS Centra and TVS Fiero are the popular bikes in Indian
market. TVS Motor Company is the only two-wheeler company in the
world to be awarded the world's most prestigious and coveted
recognition in Total Quality Management. Technology Award 2002 from
Ministry of Science, Government of India for the successful
commercialization of indigenous technology for TVS Victor. Asian
Network for Quality Award 2004 - TVS Scooty Pep won the prestigious
'Outstanding Design Excellence Award' from Business World and
National Institute of Design. The 'Good Advertising' award by Auto
India Best Brand Awards 2009. TEAM TECH 2007 Award - TVS Motor
Company bags TEAM TECH 2007 Award of Excellence for Integrated use
of Computer Aided Engineering Technologies.
Senior Management
Venu Srinivasan
K.N.Radhakrishnan
Chairman & Managing Director
President & CEO
H. Lakshmanan
H.S. Goindi
Director
President - Marketing & Sales
T. Kannan
Harne Vinay Chandrakant
Director
President NPI
C.R. Dua
S.G. Murali
Director
Executive Vice President Finance
K.S. Bajpai
Company Secretary
Director
K.S. Srinivasan
R. Ramakrishnan
Director
Prince Asirvatham
Director
Quick Facts
FounderT V Sundaram Iyengar
CountryIndia
Year of EstablishmentAugust 1980 (TVS Group in 1911)
IndustryManufacturing of two-wheelers and auto components
Business GroupTVS Group
Listings & its codesNSETVS - Suzuki Ltd: TVSSUZUKI TVS Motor
Company Limited: TVSMOTOR TVS Motor Company Limited: TVS-SUZUKI
BSETVS Motor Company Ltd.: 532343
Head OfficeTVS Motor Company Jayalakshmi Estates V Floor 8,
Haddows Road, Chennai - 600006 Tel.: +(91)-(44)-28272233Fax:
+(91)-(44)-28257121
FactoryPost Box No. 4 Harita, Hosur - 635 109Tel.:
+(91)-(4344)-276780 Fax: +(91)-(4344)-276878
Post Box No.1 Byathahalli Village, Kadakola Post Mysore - 571
311Tel.: +(91)-(821)-2596561 Fax: +(91)-(821)-2596550/ 2596553
Websitewww.tvsmotor.in
Milestones of TVS Motor
1980 India's first 2 seater 50cc Moped TVS 50, launched in
Aug.
1984 First Indian Company to introduce 100cc Indo-Japanese
motorcycles in Sept.
1994 Launched first indigenous Scooterette (sub-100 cc
variomatic scooters), TVS Scooty in June.
1996 Introduced first catalytic converter enabled motorcycle,
the 110cc Shogun in Dec.
1997 Launched India's first 5-speed motorcycle, the Shaolin in
Oct.
2000 Launched TVS Fiero, India's first 150 cc, 4 stroke
motorcycle in April.
2001 Launched TVS Victor, 4-stroke 110 cc motorcycle, in August,
India's first fully indigenously designed and manufactured
motorcycle.
2004 Launched TVS Centra in January, a world-class 4-stroke 100
cc motorcycle with the revolutionary VT-i Engines for best-in-class
mileage.
Launched TVS Star in Sept, a 100 cc motorcycle which is ideal
for rough terrain.
Company Flashback
TVS Motor Company Limited is the flagship company of TVS Group,
the USD 2.2 billion group. The Group is the third largest
two-wheeler manufacturer in India and globally among the top ten,
with an annual turnover of over USD 650 million.
Currently, the group has more than 30 companies and employs over
40,000 people worldwide. With steady growth, expansion and
diversification, it commands a strong presence in the manufacturing
of two-wheelers, auto components and computer peripherals. They
also have vibrant businesses in the distribution of heavy
commercial vehicles (HCV) passenger cars, finance and
insurance.
1980 is the red letter year for TVS when India's first
two-seater moped rolled out. It ushered in an era of affordable
personal transportation.Globally, TVS Motor Company is the first
two-wheeler manufacturer to be honoured with the hallmark of
Japanese Quality - The Deming Prize for Total Quality Management.
Indian automobile industry has grown leaps and bounds since 1898, a
time when a car hadtouched the Indian streets for the first time.
At present it holds a promising tenth position inthe entire world
with being number two in two wheelers and fourth in commercial
vehicles.Withstanding a growth rate of 18% per annum and an annual
production of more than 2million units, it may not be an
exaggeration to say that this industry in the coming years willsoon
touch a figure of 10 million units per year.Besides a steady growth
in India's fiscal system, the expansion of Indian middle class
hasalso played a major role in drawing the attention of
international auto manufacturers towardsthe Indian Automobile
Market. Moreover, India is one nation which provides
skilledworkforce at cut-throat prices making itself a preferable
manufacturing centre. Themagnetism of the Indian markets and the
decline of global auto industries such as Japan,Europe and US have
triggered the influx of new conglomerates along with huge
capitalinvestments in the sector. Overseas auto players like
Suzuki, Hyundai, Honda, etc have theirmanufacturing units in India
and are maximum utilization of their Indian functions to
expandtheir business.As per a recent research conducted by
Deloitte, 2020 will witness the emergence of at leastone Indian
auto firm that would not only feature among the best six car
manufacturers butwould also dominate the international auto sector.
Moreover, the global car sector wouldwitness an enormous competence
building in low-priced nations like India and China as mostof the
producers would alter base from industrial regions.Domestic
Automobile MarketAs per statistics launched by Society of Indian
Automobile Manufacturers (SIAM), thepassenger car transactions in
domestic market have surged to 145,905 units in January 2011against
the 2010 sales of 110,300 units. This indirectly refers to the
32.28% growth in thedomestic car sales. In January 2010, the total
sales of automobiles grew to 1,114,156 units ascompared to the
previous fiscal year's 768,698 units sales.Segments of Indian
Automobile MarketTwo-wheelers In this segment, motorcycles accounts
for major Indian Automobile marketshare. The chief players in this
segment is Hero Honda which delivers 50% motorbikes to theIndian
market besides sharing 46% in scooter market and TVS for 82% in
moped market.Three-wheeler Around 41% of the three-wheelers in
India is utilized for merchandise transferpurpose. In this segment
Piaggio and Bajaj are the leading players with 40% and 68% ofmarket
share respectively. TVS motors is a new entrant in this segment
TVS Brands TVS Apache
TVS Apache RTR FI 160
TVS Centra
TVS Fiero FX
TVS Flame
TVS Scooty
TVS Star
TVS Victor
TVS Victor GLX 125
TVS XL SuperAbout the CompanyTVS Motor Company Limited is the
third largest two-wheeler manufacturer in India and globally among
the top ten. It is the flagship company of TVS Group, a USD 2.2
billion conglomeration of companies. At present, the group is
comprised of more than 30 companies and employs more 40,000 people
worldwide. Its dealer and service network is widely spread in
India.
TVS has enjoyed a steady growth since its inception. It has
continuously expanded and diversified, and brought in new verticals
within its fold. Today it boasts a strong presence in the
manufacturing of two-wheelers, auto components and computer
peripherals. The company is also involved in the distribution of
heavy commercial vehicles, cars, finance and insurance. With such a
portfolio, the company contributes a lot to Indian economy.
The company launched the first of its two-wheeler product in
1980. It was a 50cc moped, which was successful because of its
capability to carry two people. It collaborated with Suzuki Motor
Corporation of Japan, for the manufacture of 100 cc motorcycles
under the brand name of Ind-Suzuki Motorcycles. Subsequently, the
company changed its name to TVS Suzuki Ltd. However, the
collaboration with Suzuki was only for motorcycles. The
collaboration with Suzuki ended in 2001 and thereafter, the name
was changed to TVS Motor Company. The company has set up an
overseas manufacturing unit in Indonesia.
TVS Apache
TVS Apache is an exciting offer from TVS. A powerful blend of
contemporary design and engineering, TVS Apache is superbly styled
with fantastic finish. The mighty machine has sleek finish with
lines that flow smoothly and seamlessly.
TVS Centra
TVS Centra is an efficient bike in the popular 100 cc segment in
India. Thanks to the VTI (Variable Timing Intelligent) engine
technology, it is one of the most fuel efficient bikes in India.
Coming with a slew of innovative technologies and superb design,
the bike promises style, mileage and riding comfort. TVS Fiero
F2
TVS Fiero FX 2 is a dynamic looking body with lots of power
packed features. The all-new twin pod instrument cluster comprises
the speedometer and trip tachometer. Triple rated 5-step shock
absorber at the rear and hydraulically damped front suspension
imparts stability and comfort.
TVS Scooty Pep+
TVS Scooty Pep+ is an addition on TVS Scooty Pep. The
two-wheeler has been successful all over the market due to its
sleek dual tone body with complementary colored mirrors, appealing
body lining and 5 different types of metallic colors. TVS Star
The TVS Star is TVS' entry-level bike that challenges the
dominance of the Bajaj CT 100 in the economy-segment. TVS has
launched different kinds of motorcycles which are marketed with all
customized specifications.
TVS Super XL
TVS Super XL has been incorporated with all features a
two-wheeler needs to sell itself. The vehicle has been designed
with rural vehicles in mind. With proper safety, speed and
easy-to-ride features, it has been able to taste success in its
target market.
TVS Victor
TVS Victor is an impressively styled powerful motorcycle. The
bike is available in new graphics and alloy wheels, which
accentuate its sporty style. The fuel tank has rounded lines with
an aircraft styled fuel filler lid.
TVS Motor Company Limited - Company Profile SnapshotCompany
Profile:TVS Motor Company Limited
Ticker:532343
Exchanges:BOM
2009 Sales:37,467,000,000
Major Industry:Automotive
Sub Industry:Diversified Automotive Mfrs.
Country:INDIA
Employees:4104Business DescriptionTVS Motor Company Limited. The
Group's principal activity is to manufacture and sell motor cycles
and components. The Group operates in two segments: Automotive
Vehicles and Automotive Components. Automotive Vehicles include
motorcycles, mopeds, ungeared scooters and three wheelers. The
products of the Group include TVS Apache, TVS Scooty, TVS Fiero,
TVS Super XL, TVS Victor, TVS Centra, and TVS Star etc. Its plants
are located at Hosur, Tamil Nadu, Mysore, Karnataka and Solan,
Himachal Pradesh.
TV Sundaram Iyengar and Sons Limited (TVSs) is the holding
company for the TVS Group of companies engaged in the manufacturing
of various automotive components, two wheelers and a few other
industrial products. They are also into the financial services
sector. The turnover of the entire group was close to $2 billion in
2003.
TVS was founded by T. V. Sundaram Iyengar in 1911.
It is the only automotive manufacturer in India to get the
prestigious Deming Prize. One of its subsidiaries Sundaram Clayton
was the first company in India to receive the Deming followed by
Sundaram Brake Linings also getting the Deming Prize. This prize is
"given to organizations or divisions of organizations that have
achieved distinctive performance improvement through the
application of TQM in a designated year."[2] Sundaram Clayton went
on to be awarded the Japan Quality Medal.The TVS group of companies
is mainly situated in Padi, Tamil Nadu, in the outskirts of Chennai
(formerly Madras).
THE MAJOR PRODUCTSMotorcycles
TVS AX 100
TVS Fiero
TVS Samurai
TVS Shaolin
TVS Shogun
TVS Apache (150 cc,13.7 Ps @8500rpm)
TVS Apache RTR 160
TVS Apache RTR 160 EFI (Electronic Fuel Injection)
TVS Apache RTR 180 (17.3ps)
TVS Centra
TVS Fiero
TVS Fiero F2
TVS Fiero FX
TVS Flame
TVS Flame (125 cc,ccvti technology)
TVS MAX 100
TVS MAX R 100
TVS Star
TVS Star City
TVS Star Sport
TVS Supra
TVS Victor (110 cc)
TVS Victor EDGE (125 cc)
TVS Victor GLX (125 cc)ScooterettesTVS Scooty KS (60 cc) (2nd
Largest used Scooter in India)
TVS Scooty ES (60 cc)
TVS Scooty Pep (90 cc) (3rd largest used scooter in India)
TVS Scooty Pep + (90 cc)
TVS Teenz (60 cc)
TVS Streak (90 cc)
Launch: 8 December 2006, Engine Volume: 65cc, Top Speed: 50
km/h, Mileage: 3035 km/l, Colors: Black, Red, violet.
TVS Teenz Electric
Stepthru
TVS NEO 110
Mopeds
TVS 50 (The most used moped in India and its subcontinent, has
been manufactured 11, 26,325 (its variants and derivates included)
times (August 2005) and still going on in service.
TVS XL (60 cc)
TVS Eco
TVS Champ (50 cc)
TVS Super Champ (60 cc)
TVS Sport (70 cc)
TVS XL Super (70 cc)
TVS XL Super Heavy Duty (70 cc)
Star of Asia Award to Mr. Venu Srinivasan, CMD TVS Motor Company
by Business Week International.
He was also honored with Doctorate in Science by University of
Warwick, United Kingdom.
Mr Venu Srinivasan was conferred with the prestigious JRD Tata
Corporate Leadership Award for the year 2004.SAP ACE AWARD 2007 for
TVS MOTOR COMPANYNew Delhi, 27 August 2007:
TVS Motor Company Limited has won this years SAP ACE 2007 Awards
for Customer Excellence in the Most Innovative Net weaver Category.
An eminent jury comprising of powerful industry names judged the
company on various stringent parameters including use of SAP
solutions to enable strategic decision making, SAP as a change
agent for business transformation and to manage growth.
This award is the result of several SAP implementations that we
have put in place at TVS Motor Company to effectively manage the
supply chain, which is a critical factor, especially for our new
product introduction process. Our speed is heavily dependent on the
speed of our suppliers and the entire supply chain. An apt example
would be our dealer management system, which enables us to get
product performance, customer complaints etc. By seamlessly
integrating SAP, we have successfully reduced time for data
transfer, reduced time for error solving and also been able to
provide online support for the dealers says Mr. T G Dhandapani,
CIO, TVS Motor Company, who received the award on behalf of the
company.TVS Motor Company won the award for which fifty large
enterprises including the likes Titan Industries, Mahindra and
other corporate were nominated.Application of SAP in new product
development process has resulted in 20% reduction in lead time.
This has largely been effected by supplier collaboration using
Integrated Project Management. Also, it has enabled early supplier
involvement through web-enabled collaboration which would reduce
the design iteration and also contribute to improve lead time for
development Mr. Dhandapani added.Last year, TVS Group company,
Sundaram -Clayton had won the first ever SAP ACE Awards for its
innovative implementation in Discreet Manufacturing
Category.Exports growth in FY2006 (YTD) vis--vis FY2005 (YTD)
Continuing with the exports expansion from last year, TVS has
seen a robust growth in its exports in the months of April till
date as compared to the same last year. Till now in this year the
total exports numbers are up by 77 percent to 43,115 units.
Key Developments:
Planned capacity additions in two and three wheeler segments
The company is planning to significantly ramp up its production
capabilities domestically as well as abroad. In this direction it
is setting up of a manufacturing facility for two wheelers in
Indonesia with an initial annual capacity of 1.20 lakhs two
wheelers. The investment of the project would be up to Rs 225
crore. Also it is setting up a production facility for three
wheelers in the existing plant at Mysore with an initial annual
capacity of 1.00 lakh vehicles. The estimated cost of this project
is Rs.100 crore. Further in Himachal Pradesh the company is
establishing a two wheeler manufacturing unit with an initial
annual capacity of 3.00 lakhs units at an estimated cost of Rs.90
crore. To fund these projects the company has already organized a
line of credit to the tune of Rs 437 crore. These enhanced
capacities would enable the company to meet the increasing market
demand in the coming years.
Financial Performance:
Net Sales jumps by 20.3 percent
During June05 quarter, the continued growth in volume aided by
new product launches helped TVS motor to grow its topline by 20.29
percent. The net sales which were Rs 611.06 crore in Q1FY05 have
reached to Rs 735.06 crore in Q1FY06. Total two wheeler sales have
jumped by 21.19 percent powered by 27.81 percent jump in the
motorcycle sales and 65.7 percent rise in export sales. The other
income of the company has surged by 64.42 percent in Q1FY06 to Rs
11.54 crore as against Rs 7.01 crore in Q1FY05. Overall the total
income of the company has increased by 20.8 to Rs 746.6 crore which
was Rs 618.07 crore in June04 quarter. Valuations:
At the market price of Rs 100, TVS Motors is quoting at a price
to earnings ratio of 17.55x its TTM June05 earnings. Its EV/Sales
is at 0.85x whereas its EV/EBIDT is at 8.87x.COMPANY
PERFORMANCE
New Product Launches and Initiatives
During the year 2008-09, the following significant variants were
launched.Scooty Streak
TVS Scooty Streak comes with a smartand sleek unisex styling.
The sharp head
lamps, LED tail-lamps and contemporarystyling takes the Scooty
Streak into a different league making it the most stylish scooter
for young girls.The LiTech engine makes the Scooty Streak light,
zippy and themost fuel efficient scooter in its class.
Apache RTR RD
The Apache RTR 160 RD comes with a factory fitted 200mm Rear
Petal Disc
Brake. With this, the Apache RTR adds anew performance dimension
offering
Incomparable braking, thereby matchingthe aspirations of the
youth of today for a fast, muscular, powerfuland yet, totally safe
two wheeler.TVS Tru4 Oil
TVS Tru4, indigenously developed oil by the Company in
association with BPCL, is poised to become a global brand with
initial exports to Sri Lanka and Indonesia. This oil is
specifically designed for improving the engine performance
significantly.TVS MOTOR COMPANY LIMITED
Financial HighlightsRupees in crores
DETAILS 2008-092007-082006-072005-06 2004-05
Sales and other income 3,7413,3103,9213,3062,955
Profit before interest, depreciation and tax 189132203275291
Profit before tax 313591168200
Profit after tax 313267117138
Net fixed assets 1,0361,0431,003794770
Share capital 2424242424
Reserves and surplus 786798786742655
Networth 735769751673614
Total borrowings 906666634385187
Earnings per share (Rs.)1.311.342.84.935.79
Dividend per share (Rs.) 0.70.70.851.31.3
Book value per share (Rs.) 30.6332.0431.2928.0425.58
TVS SCOOTERETTES/MOPED
MODELCAPACITY
TVS Scooty TVS Scooty ES TVS Scooty Pep TVS Pep Plus59.9 CC74.6
CC87.8 CC
TVS Spectra DX/AX150 CC
TVS XL TVS XL Super TVS XL Super HD69.9 CC
AWAITED MODEL OF TVS MOTORS
MODELCAPACITY
TVS Taurus Fiero F3145.45 CC
TVS MOTORCYCLES
MODELCAPACITY
TVS Apache RTR159.5 CC
TVS Centra99.8 CC
TVS Flame125 CC
TVS Fiero TVS Fiero F2 TVS Fiero FX147 CC
Suzuki Max 10098.2 CC
Suzuki Max 100R98.2 CC
Suzuki Samurai98.2 CC
Suzuki Shogun108.2 CC
Suzuki Shaolin138.2 CC
TVS Star TVS Star TVS Star City99.7
TVS Victor TVS Victor GLX TVS Victor GX TVS Victor Edge124.8
CC109.3 CC125
CHAPTER II
CONCEPTUAL FRAMEWORK
Meaning of Marketing: -Marketing is defined by the American
Marketing Association as the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and
society at large. The term developed from the original meaning
which referred literally to going to market, as in shopping, or
going to a market to buy or sell goods or services.Marketing is an
integrated communications-based process through which individuals
and communities discover that existing and newly-identified needs
and wants may be satisfied by the products and services of
others.
What are Customers: - Customers are the most important people
ever, in the office, in person, by mail or by telephone.
Customers are not dependent on company companies are dependent
on them.
Companies are not doing favors by serving them they are doing us
favors by giving us the opportunity to do so.
Customers are not cold statistics they are flesh-and-blood human
beings with feelings and emotions like our own, and with biases and
prejudices.
CATEGORIES OF CUSTOMER
Perception: -
Perception is a mental process, where by an individual select
data or information from the environment, organize it & then
drown significance or meaning from it.
It is basically a cognitive or thinking process and an
individuals activities, emotions, feelings etc.
Customer Perception: -
The concept of customer perception does not only relate to
individual customers in consumer markets. It is also valid in
business to business situations. For example, a competitor
benchmarking survey of a large industrial supplier revealed that
the market leader, although recognized for excellent quality and
service and known to be highly innovative, was perceived as
arrogant in some regions. If we take into consideration that there
are about four other large players with a similar level of quality
and innovative ideas, this perceived arrogance could develop into a
serious problem. Customers here are well aware the main
characteristics of all the offerings available at the market are
largely comparable. So they might use the development of a new
product generation of their own to switch to a supplier that can
serve them not better or worse, but with more responsiveness and
understanding.
Companies have done a lot to improve customer satisfaction and
customer relationships in the past. As discussed above, this will
not be enough any more.
Any serious effort to manage customer perceptions starts with a
good measurement system. Companies must be truly willing to look at
the whole process of interaction through the customers eyes. For
many companies, this Two Wheelers in India was set up as a joint
venture between TVS and Dunlop, UK in1960. The company supplies
wheels as Original Equipment to all major vehiclemanufacturers in
the country. Wheels India is entering into collaboration with
Titan, theworld leader in off-highway vehicle wheels relating to
earthmoving, construction andagricultural equipment. Manufacturing
Plants are located at Chennai, Tamil Nadu,Rampur, UP and
Ranjangaon, Maharashtra. Wheels India has a workforce of
100.Products and ServiceWheels for commercial vehicle, cars, jeeps,
tractors construction equipment / earth moverand defense vehicle,
wire wheels for export and air suspension systems for
commercialvehicle.Launched Models: 1. Indias first 2 seater 50cc
Moped TVS 50, launched in Aug 1980. 2. First Indian Company to
introduce 100cc Indo-Japanese motorcycles in Sept 1984. 3. Launched
Indias first indigenous Scooterette (sub-100 cc variomatic
scooters), TVS Scooty in June 1994. 4. Introduced Indias first
catalytic converter enabled motorcycle, the 110cc Shogun in Dec
1996. 5. Launched Indias first 5-speed motorcycle, the Shaolin in
Oct 1997. 6. Launched TVS Fiero, Indiaa first 150 cc, 4 stroke
motorcycle, in April 2000.Launched TVS Victor, 4-stroke 100 cc
motorcycle, in august 2001; Indias first fullyindigenously designed
and manufactured motorcyclerequires a more or less extensive shift
in mindset, since most departments from development to sales will
be involved. To satisfy customers perception is the biggest
challenge
In meeting customers' requirements and measuring customers'
satisfaction indexes, customer perception should be definitely a
key consideration. Qualified services in the operation execution
layer, technical management layer and business development layer
are necessary. However, it is even more important to efficiently
understand customer expectations and make efforts to exceed their
expectations. Therefore, customer perception management becomes a
central topic. Frankly speaking, among all indexes in customer
satisfaction management, the biggest challenge is customer
perception management, or customer perception satisfaction.As a
matter of fact, one of the major characteristics of service is
intangible; hence the core value of services is not like a physical
product but the spiritual experience and perception of customers.
The final aim and ideal effect of service provisioning is to have
customers perceive and enjoy the service. Such perception is both
at psychological and behavior levels, and it is the contents of
high quality life in the modern society. Customers are seeking for
material deliverables as well as perceptive enjoyment when
purchasing a service product. Since perceptive enjoyment is a vital
service objective, one of the key service management objectives
shall be meeting customers' perceptive enjoyment.
Customer perception, no matter how difficult to be measured, can
be improved via continuous practice. It's always pleasant and easy
to pursuing customers' perception, though sometimes measuring it
would be relatively difficult. Constantly taking customers oriented
and standing in their shoes to consider their requirements, shall
be the precondition of improving customers' perception. Furthermore
the key method of improving customers' perception is to fully
understand, elaborately configure, effectively manage, and exceed
customers' expectations. Huawei has set up 103 local and customized
service organizations throughout the world with its rapid
development of global market, and it provides telecommunication
service for over one billion subscribers in more than 100
countries. Its excellent and stable service team, clear and
efficient business flow, and integrated and effective support
platform are the foundation of satisfying customers, meanwhile,
there are more important elements which have been attracting
hundreds of telecommunication operators, such as timely delivery,
professional services, customized service portfolio without
stopping optimization, all-around managed services, and innovated
business models, etc.
"Total Customer Satisfaction" and "Service Creates Value" truly
reflect the truth of establishing and developing win-win partner
relationships with customers. Whenever you are thinking what you
can do for customers, how and to what extent you shall serve the
customers, or how to realize your differentiated service value,
please don't forget to think the question: "How to improve
customers' perception?" Let's practice together, do the right thing
and do it wisely. Positive effects of increasing market share on
customer perception: -
Increasing market share can send out positive signals by acting
as an indicator of superior quality that is recognized by more and
more other customers. This effect is particularly strong for
premium priced products. Customers normally assume that a product
must be of exceptional quality if it can gain such an unexpected
market success despite its high price. Many brands offer positive
emotional benefits of using a product that is popular in the
markets. The value of a product or service can rise through
increasing number of users of the same product, e.g. number of
members of an online community, better availability of software for
popular computer systems.Negative effects of increasing market
share on customer perception: -
For premium and luxury products, customers may translate an
increasing market share into a loss of exclusivity and thus
perceive it as less valuable. The quality of services may suffer if
they are consumed by increasing numbers of users. Diseconomies of
scales and congestions can be observed with busy airports and many
other services so that customers may look out for other providers
that promise more timely service and convenience.
CHAPTER III
PROJECT PROFILEFUNACTIONAL AREA OF THE PROJECT
Functioning Activity: - Customer Perception regarding TVS
Motors.Customers perception is one of the most important things
which a company can not ignore because in todays competitive
environment customer is the king of market. Customer perception
does not only relate to individual customers in consumer markets.
It is also valid in business to business situations.Different
customers have different perception regarding TVS Motors and its
products line. It is because different customer customers have
different taste and preferences. But TVS Motors doing their efforts
in building image and perception among its customer and in the
market. And for this purpose TVS Motors has adopted certain quality
measure and objectives.CUSTOMER SATISFACTION AND QUALITY
The continued improvement in quality of its products has
resulted in the company winning several quality awards as well as
bringing in more value for its customers. Last year, TVS Apache,
which was awarded 'Bike of the Year 2006' by several leading auto
magazines, was chosen as the number 1 motorcycle brand in its
class, in an all India customer satisfaction survey conducted by
TNS Automotive. Recently, TVS Apache won the 'NDTV Car & Bike
AAA viewers choice Bike of the Year 2007' award, thus reinforcing
customer's preference.
During the year, the company offered a unique 5year warranty
scheme for its discerning TVS StaR customers.TVS Motor is the third
largest two-wheeler manufacturer in India and ranks among the top
ten globally. It is the first company in the world to be honored
with The Deming Prize for Total Quality Management. The company was
the first in India to launch 2-seater 50cc moped and 100cc
Indo-Japanese motorcycles. At present TVS Apache, TVS Victor, TVS
Scooty, TVS Centra and TVS Fiero are the popular bikes in Indian
market.This company has been honored with- The Deming Prize' for
Total Quality Management (TQM) with the hallmark of Japanese
Quality.OPERATIONS REVIEWQuality
The Company has significantly improved quality of all its
products through a systematic task force approach.
Total Quality Management (TQM)
The Company has been using the philosophies of TQM as the corner
stone of its management. It has continued to benefit from100%
participation of employees in TQM activities for the third year in
succession. The employees have completed more than 1,300 projects
through QC Circles and Cross Functional Teams. Last year, the
Company had carried out Theme based suggestions' to improve the
effectiveness. Overall during 2008-09, the Company was able to
achieve an average of 40 suggestions per employee.
Cost Management
The Company continues its rigour on costs through an effective
deployment system. Value engineering exercise and aggressive global
sourcing projects are being pursued, to reduce material cost to
improve the profitability.CHAPTER IV
RESEARCH METHODOLOGY
INTRODUCTION
Research methodology is a framework, a blue print for the
research, which guide the collection and analysis of data.
Research methodology is being framed in order to achieve the
research objectives. It is an expression of what is expected of the
research exercise in terms of result and the analytical input need
to convert data into research findings.
Research methodology minimizes the degree of uncertainly
involved in the management decisions. Research lays the structure
for decision-making.
Objectives of the study
To know the meaning of perception.
To understand the importance of customer perception.
To find out scope of customer perception. To know what is the
perception of customers regarding TVS brand or its products.
RESEARCH DESIGN
A Research design is the basic plan that guides the collection,
measurements and analysis of data. Type of Research: This research
is descriptive in nature.Descriptive research includes surveys and
fact- finding enquires of different kind. The major purpose of
descriptive research is description of the state of affairs as it
exists at present. The main characteristic of this method is that
the researcher has no control over the variables. The data
collected here may relate to the demographic or the behavioral
variables of the respondents under study.
Research Instrument:In the survey method I have used
questionnaire as a research instrument this is written &
organization format contemning the entire question relevant to
solicited the required information.
Because of its flexibility the data is collected from large
population about their awareness attribute, opinion past present
behavior to check that the questionnaire surveys the necessary
purpose it should be tested as a limited scale and this is
technically known as pilot survey.
This questionnaire consist multiple choices and some this
close-ended structured question are easy to summarize and there is
no scope for misinterpretation.
DATA COLLECTION
The decision-making must be objective and fact based in nature.
This is achieved by collecting and analyzing appropriate data. Data
may be broadly divided into two categories namely primary data
& secondary data. The primary data are those data, which are
collected for the first time by the organization, which have
already been collected by some other agency but also can be used by
organization under considering. Primary data may be collected by
observation, oral investigation and questionnaire method or by
telephone interview. In this study, for primary data collection we
have used questionnaire method. This is written and in organized
format containing all questions relevant to soliciting type, in
which all questions and answers is specified and comments in the
respondents own words are held to a minimum. The unstructured
questionnaire is useful in carrying out in depth interviews where
the aim is to probe for attitudes and reasons. For this study we
are using structured questionnaire (annexure-A) and carry out the
personal interviews with users and dealers. Some times we have
carried out in-depth interviews and observe the situation to get
more in depth information about the topic. In the structured
personal interview method the information is likely to be more
accurate and reliable because the interviewer can clear up doubts
and cross check the respondents. Moreover this method is most
flexible, no response is very low, supervision & control is
possible. Marketing researcher has a choice of two main research
instruments in collecting primary data i.e. Questionnaire &
mechanical device. For a better option I had gone for
Questionnaires. A Questionnaires consists of a set of questions
presented to respondents for their answers. Because of its
flexibility, the Questionnaire is by far the most common instrument
used to collect primary dataFor secondary data we have used the
data prepared by TVS motor company.
SAMPLE DESIGN
Sampling indicates the selection of a part of a group or an
aggregate with a view to obtaining the information about the whole.
This aggregate or totality of all members is known as population
although they need not be human beings. For this study in designing
the sampling the sampling plan, we have used the non-probability
convenience sampling method. The sampling units for this study are
consumer, retailers.The suggestions of all above users may be very
useful to improve the customers perception. Who is to be surveyed?
It should be defined in a research plan the target population that
will be surveyed. Once the sampling unit is determined, a sampling
frame must be developed so that everyone in the target population
has an equal or known chance of being selected. As I had gone for
random sampling, there is no need to go for sampling unitWho is to
be surveyed? It should be defined in a research plan the target
population that will be surveyed. Once the sampling unit is
determined, a sampling frame must be developed so that everyone in
the target population has an equal or known chance of being
selected. As I had gone for random sampling, there is no need to go
for sampling unitLimitation of studyEvery research has its
limitations; this research is not an exception in this manner there
are certain factors in conducting this research also, these are
Time constraint as we are using interview method that is more
time consuming especially when sample is scattered in large
geographical area.
Skilled manpower required in interview method the interviewer
has to visit the individuals, put question to them, which elicit
the relevant information about the subject of enquiry. This
requires costly skilled manpower.
Financial constraint the method used for this study is very
expansive
Secrecy of data some of the data are confidential and not to
be
Published so we have limitation of information.
CHAPTER VII
FINDINGS AND CONCLUSION
FINDINGS & CONCLUSION Perception is a mental process, where
by an individual select data or information from the environment,
organize it & then drown significance or meaning from it.
It is basically a cognitive or thinking process and an
individuals activities, emotions, feelings etc.
Different customers have different perception regarding TVS
Motors and its products line. It is because different customers
have different choice and preferences. But TVS Motors doing their
efforts in building image and perception among its customer and in
the market. And for this purpose TVS Motors has adopted certain
quality measure and objectives. TVS conduct the promotional
activities but these activities are not much more effective.
Promotional activities helps to create awareness of a brand in
market, which later on helps to increase the sales also creates
good image.
The image of TVS brand is satisfactory. Mostly customers prefer
this brand because it offers its products at lower prizes. CHAPTER
VIII
SUGGESTIONS
&
RECOMMENDATIONS
SUGGESTIONS & RECOMMENDATIONS
A questioner system must used for knowing the perception of the
consumers because it helps in knowing the perception of the
consumers and their attention on promotional activity. These
promotional activities must be conducted timely or regularly so as
to increase the effectiveness of these activities.
As most of people think that TVS lower segment bike are not much
powerful as they are shown. So it is a major reason behind the
negative perception. So company must made some changes in its lower
segments bikes.
Public relation, publicity are much more effectives for TVS. So
TVS must give more attention on these promotional activities
because it helps them to the negative perception of customers in
positive.
The company should give advertisement of CBZ X-TREME in all the
advertising medias. The company should show good qualities of CBZ
X-TREME in comparison of the other bikes. The company should
mention the after sales services provided by them in the
advertisement of CBZ X-TREME
They should make the advertisement by using one of the best
pairs of the bollywood. They should show in their advertisement
that CBZ X-TREME is affordable for middle class people. They should
display the hoardings of CBZ X-TREME at the petrol pumps, bus
stations, railway station etc.(It is shown in the advertisement of
CBZ X-TREME that it gives more mileage with less cost in comparison
of the other bikes.(They can also display the public reviews about
the CBZ X-TREME in the advertisement.
BIBLOGRAPHY
BOOKS:-
Agarwal, P.K., Marketing Management, Pragati Prakashan, Meerut,
Second Edition 1999
Kotler, Philip, Marketing Management, Pearson Education
(Singapore) Pte. Ltd; New Delhi, Eleventh Edition.
Kothari C. R., Research Methodology Methods & Techniques,
New Age International Publishers, New Delhi, Second Edition.
AzarKazmi, Batra Advertising and Sales Promotion, Excel
Book,
Burnett, John J., Promotion Mgt., A.I.T.B.S.
WEB SITE SAMPLE:
www.tvsmotorsltd.com www.google.comAPPENDICES
Motorcycle Apache RTR 160CC Apache 150CC
Metro - 100CC Star LX - 100CC
Victor GLX - 125CC Victor GX -100CC Max 100CCScooterette Scooty
Streak - 90CC
Scooty Pep + - 90CC XL Super - 2 Stroke 70CC XL HD - 2 Stroke
70CC