Market Analysis of Consumer Durables(Automobile Industry)

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Automobile Industry - Market analysis

Text of Market Analysis of Consumer Durables(Automobile Industry)

Market ANALYSIS OFCONSUMER DURABLES(automobile sector)

Presented byGroup No.9Sumeet Mittal (171)K.Naresh kumar (172)Ashish Sharma (173)Gourav Kumar Bhut (174)Anurag Nair (175)Shashank Sharma (176)

CONSUMER DURABLESINDIAN CONSUMER DURABLE MARKETAUTOMOBILE INDUSTRYAutomobile wheeled passenger vehicle that carries its own motor.The automobile industry is divided into two based on drive typeTwo-wheel driveFour-Wheel DrivePart of the classification process takes into account the vehicle's body style:CoupeConvertibleStation wagon or estate carSedanMinivanSport utility vehicle (SUV)Sports carHatchback

INDIAS AUTOMOBILES PRODUCTIONIn 2010, India beat Thailand to become Asia's third largest exporter of passenger cars. The majority of India's car manufacturing industry is based around three clusters in the south, west and north.Chennai is the Detroit of Asia as it accounts for 6o% of Indian automobiles production.

AUTOMOBILE COMPANIES IN INDIAIndian Automobile companies :Chinkara Motors, Force Motors, Hindustan Motors, ICML, Mahindra, Premier Automobiles Limited, San Motors, Maruti Suzuki, Tata Motors.

Vehicles assembled in India :BMW India, Fiat India, Ford India, General Motors India, Chevrolet, Honda Cars India Limited, Hyundai Motor India, Isuzu, Mercedes-Benz India, Mitsubishi, Nissan Motor India, Renault India, Toyota Kirloskar, Volkswagen Group sales India, Volkswagen India.

MARKET SHARE

4 Ps Of MarketingSuccessful marketing strategy: PromotionMaruti Suzuki promotes most of their products through TV ads and print media. Whenever Maruti introduces any new product, it also attaches a new punch line along with it in order to create a lasting relationship with the consumers.Maruti came up with a new campaign based on the fuel efficiency aspect that Maruti Suzuki looks to deliver with their cars. The ad has this line- "For a country obsessed with mileage, Maruti Suzuki makes India's most fuel efficient cars."

Successful marketing strategy:Place/ DistributionMaruti has showrooms in all the major cities of the country. Maruti Suzuki has largest network of dealers among car manufactures in India with more than 4000 sales executives. Sales network is linked through secure extranet based information network. The service network of Maruti covered 1500 cities across India with the largest no of service outlets.

Successful marketing strategy: Product And PriceThe company recently updated its manufacturing and technology capabilities. It came up with better and efficient K-series engine. Maruti also expanded its business portfolio by starting new but related businesses such as -Maruti Driving School -Maruti True Value -Maruti Finance -Maruti Insurance.

Maruti Suzuki offers 14 different models in a total of 92 variants. Maruti Suzuki has made its presence in the market with prices ranging from Rs 2.27 lakhs to Rs 7 lakhs. The prices were kept low to attract middle income group. SWOT analysisSWOT analysisPORTERS ANALYSIS OF THE INDUSTRY OBJECTIVE OF THE STUDYMETHODOLOGYData analysis: Survey of Consumers

TOOLS USED FOR DATA ANALYSISDEMOGRAPHIC ANALYSIS Factors Affecting Purchase

PRICE

MILEAGE

LOOKSINTERIORS

SAFETY FEATURESSEATING CAPACITYENGINE PERFORMANCEACCESSORIES

AFTER-SALE SERVICESLONGEIVITYSTATUS SYMBOLBRAND RECALL

Factors Helping in Brand Recall

ACCESSORIES LOOKED FORWHOM DO CONSUMERS CONSULTCOMPETITOR ANALISYS

Consumer with occupation business and services: Engine preference Preference With Reference to Annual Income

Annual income between 3-5 lakhsAnnual income between 5-8 lakhsAnnual income between 8-12 lakhsAnnual income below 3 lakhsT-Test for factors affecting Purchase Decision with respect to GenderFactors Affecting Purchase Decision Significance ValuePrice0.159Mileage0.029Looks0.303Interiors0.464Safety Features0.321Seating Capacity0.319Engine Performance0.169Accessories0.078After-Sale Services0.168Null Hypothesis(H0): The factors affecting the purchase decision are same for both males and females.Alternate Hypothesis(H1): The factors affecting the purchase decision are different for both males and females.From the Independent sample T test we see that the significance value for all factors is greater than 0.05 except for mileage. Hence, null Hypothesis is rejected in this case and we can conclude that there is a significant difference between perception of males and females with respect to mileage. From the mean values, we see that males give more value to mileage than females.Anova Test of Factors affecting purchase decision with respect to AgeFactors Affecting Purchase Decision In Respect To AgeSignificance ValuePrice0.697Mileage0.498Looks0.621Interiors0.085Safety Features0.001Seating Capacity0.382Engine Performance0.059Accessories0.269After-Sale Services0.697Null Hypothesis(H0): The factors affecting the purchase decision are same for people of all age groups.Alternate Hypothesis(H1): The factors affecting the purchase decision are different for people of different age groups.

The significance value of all factors apart from Safety Features is greater than 0.05.Hence for all the age groups there is not much of a difference in important given for the various factors affecting the purchase decision apart from safety features.Safety Feature is a very important parameter for consumers above the age of 40 years. Anova Test of Factors affecting purchase decision with respect to IncomeFactors Affecting Purchase Decision In Respect To IncomeSignificance ValuePrice0.597Mileage0.000Looks0.629Interiors0.000Safety Features0.481Seating Capacity0.056Engine Performance0.389Accessories0.728After-Sale Services0.240Null Hypothesis(H0): The factors affecting the purchase decision are same for people of all income groups.Alternate Hypothesis(H1): The factors affecting the purchase decision are different for people of different income groups.

The significance value of all factors apart from Mileage and interiors is greater than 0.05.Hence for all the income groups there is not much of a difference in important given for the various factors affecting the purchase decision apart from mileage and interiors.Mileage is a very important parameter for consumers earning less than 5 lakhs. Interiors is an important parameter for consumers earning above 12 lakhs.conclusionMileage & Longevity are the most important factors which consumers consider before buying a car.Consumers prefer to buy sedans & diesel engines.Brand Logo & advertisements are the most important parameters that help consumers in recalling a brand.Brand ambassador does not affect the consumers to a great extent.Power Windows & Stereo Systems are the most preferred accessories for consumers.Use of social media forums for consultations is rising.Males give more value to mileage than females.Safety Features is the most important parameter for consumers above 40 years of age.Mileage is the most important factor for consumers with an annual income of less than 5 lakhs.Interiors is the most important factor for consumers with an annual income of more than 12 lakhs.