Dealer Satisfaction -Usha

8/13/2019 Dealer Satisfaction -Usha

1/39

1.1 INTRODUCTION

In todays economy all manufacturers need to pay attention on how to build strong long-term

relationships with their dealers chain. In fact, it has been demonstrated that short term policies aimed

to provide dealers immediate benefits (e.g., price discount) may prevent the development of long term

and fruitful relationships. Also supporting dealers in promoting manufacturers products has beenproved as a sustainable strategy in the long run.

These issues have been debated in then field of Distribution channel management. In particular,

researchers emphasised that manufactures cannot ignore in designing long term growth-oriented

policies, strategies aimed dealers satisfaction. Furthermore, in order to successfully plan business

growth, it has been remarked literature the central role played by communication. In fact, researchers

underlined the failure in channel communication is likely to affect the relationship between

organizations and its own dealer structure

Such remarks suggest that in order to effectively build a long term relationship with an own dealers

chain, a manufacturer has to adopt a systematic approach aimed to foster market consensus on aside,

and mutual benefits on the other side. In particular, in the innovative and revolutionary high-tech

industry, manufacturers in order to achieve the desired sales revenues cannot ignore the need to

continuously promote activities aimed to both update dealers employees skills and motivation.

This paper is the result of a research project conducted by the researcher with a manufacturer operating

in the consumer durable Industry. It is based on the hypothesis that in order to successfully support

dealers, manufacturer has to design long term oriented policies aimed both build up a growing potential

customers awareness of company product a side, and increase dealers employee skills and motivation

on the other side.

1.2 NATURE OF THE PROBLEM

The efficiency and success of many organizations may be strongly based on the distribution channels.

This structure involves different agents and distinct organizations that, despite the convergence in the

objective to offer a certain product, may have conflicting interests.

A marketing channel or distribution channel is a set of interdependent organizations involved in the

process of making a product or service available for use or consumption and the members of the

channel depend on each other to make their job (idem). The correct management of these agents is,

therefore, a fundamental issue.


2/39

Attending their purpose of providing products and services for the use or consumption and satisfying

the final market usersno matter if they are consumers or industry buyersa large amount of the

channel structure make use of brokers that execute some kind of role on the products and service

distribution.

It emphasize the importance of channels that link specific activities which are connected to the

functions of distribution and final users necessity serving, dividing these causes based on the demand

and supply. Therefore it is obvious to keep the channel members satisfied and motivated to keep the

momentum of the business going. Any disturbance on this may cause loss on the sales or even losing the

channel member.

Considering this fact, the study was pertaining to the satisfaction of the dealers of Usha International Ltd

who belongs to the class II and Class III towns. In many times the companies fail to give good service tothose dealers because of the lack of resources or the reachability etc. this study is to find out the

satisfaction level of these dealers of UIL since nearly the 20% of the sales of UIL is from the rural market.

1.3 OBJECTIVES

1. To find the dealers satisfaction of the Class II & Class III towns in the Ernakulam district who deals

with USHA fans

2. To find out how the dealers rate the promotional activities carried down by UIL

3. To find out whether there is any co relation between the experience and the type of promotion they

needed.

4. To know the impact of after sales service provided by UIL and the satisfaction level of the dealers

5. To know how effective are the employees in dealing with the dealers

1.4 HYPOTHESIS

Ho: There is no significant relation between the dealers experience and their Satisfaction Level on

the Promotional Activities.


3/39

H1: There is a significant relation between the dealers experience and their Satisfaction Level on

the Promotional Activities.

2. PROFILE

2.1 INDUSTRY ANALYSIS

2.1.1 OVERVIEW

With the increase in income levels, easy availability of finance, increase in consumer awareness, and

introduction of new models, the demand for consumer durables has increased significantly. Products

like washing machines, air conditioners, microwave ovens, color televisions (CTVs) are no longer

considered luxury items. However, there are still very few players in categories like vacuum cleaners,

and dishwashers.

Consumer durables sector is characterized by the emergence of MNCs, exchange offers, discounts, and

intense competition. The market share of MNCs in consumer durables sector is 65%. MNC's major target

is the growing middle class of India. MNCs offer superior technology to the consumers, whereas the

Indian companies compete on the basis of firm grasp of the local market, their well-acknowledged

brands, and hold over wide distribution network. However, the penetration level of the consumer

durables is still low in India. An important factor behind low penetration is poor government spending

on infrastructure. For example, the government spending is very less on electrification programs in rural

areas. This factor discourages the consumer durables companies to market their products in rural areas.

2.1.2 Introduction

Some Facts

1. Bargaining power of suppliers in consumer durables sector is limited due to threat of imports and

intense competition.

2. Some of the entry barriers in consumer durables sector are distribution network, capital, and ability to

hire purchases.

3. Demand is seasonal and cyclical.

4. Competition among players is on the basis of difference in prices and well-acknowledged brands.

2.1.3 Sector Outlook

There has been strong competition between the major MNCs like Samsung, LG, and Sony.


4/39

LG Electronics India Ltd. has announced its extension plan in 2006. The company is going to invest $250

million in India by 2011 and is planning to establish a manufacturing facility in Pune. TCL Corporation is

also planning to establish a $22 million manufacturing facility in India. The Indian companies like

Videocon Industries and ONIDA are also planning to expand. Videocon has acquired Electrolux brand in

India. Also, with the acquisition of Thomson Displays by Videocon in Poland, China, and Mexico, the

company is marking its international presence. According to Isuppli Corporation (Applied Market

Intelligence), country's fiscal policy has encouraged Indian consumer electronic industry. The reduction

on import duty in the year 2005-06 has benefited many companies, such as Samsung, LG, and Sony.

These companies import their premium end products from manufacturing facilities that are located

outside India. Indian consumers are now replacing their existing appliances with frost-free refrigerators,

split air conditioners, fully automatic washing machines, and color televisions (CTVs), which are boosting

the sales in these categories. Some companies like Samsung Electronics Co. Ltd. and LG Electronics India

Ltd. are now focusing on rural areas also. These companies are introducing gift schemes and providing

easy finance to capture the consumer base in rural areas.

TABLE 2.1

Sector Financials (In Rs)

| 31/03/2002 | 31/03/2003 | 31/03/2004 |

Sales | 37,331m | 30,100m | 43,096m |

Sales Growth | - | -19.4% | 43.2% |

Gross Profit Margin | 10.7% | 6.6% | 4.3% |

Profit After Tax (PAT) | 1,019m | 940m | -1,202m |

PAT Growth | - | -4.3% | -209.5% |

Market Capitalization | 1,787m | 2,392m | 2,359m |

P/E Ratio | 7.0 | 7.6 | -7.9 |

Return on Capital Employed | 13.9% | 23.1% | 6.9% |

Growth in 2005-06

TABLE 2.2

Consumer Durables | Growth |

Air Conditioner | 20-25% |

Refrigerator | 5-10% |

Microwave Ovens | 25% |


5/39

Washing Machines | 5-10% |

Color Televisions (CTVs) | 15-20% |

Black & White Televisions | -20% |

Clock | 10% |

Watch | 10% |

VCDs | 30% |

Consumer Electronics (Overall) | 9% |

2.1.4 Classification of Consumer Durables

Consumer durables Sector can be classified as follows:

1. Consumer Electronics includes VCD/DVD, home theatre, music players, color televisions (CTVs),

cameras, camcorders, portable audio, Hi-Fi, etc.

2. White Goods include dishwashers, air conditioners, water heaters, washing machines, refrigerators,

vacuum cleaners, kitchen appliances, non-kitchen appliances, microwaves, built-in appliances, tumble

dryer, personal care products, etc.

3. Moulded Luggage includes plastics

4. Clocks and Watches

5. Mobile Phones

2.1.5 Scope

In terms of Purchasing Power Parity (PPP), India is the 4th largest economy in the world and is expected

to overtake Japan in the near future to become the 3rd largest. Indian consumer goods market is

expected to reach $400 billion by 2010. India has the youngest population amongst the major countries.

There are a lot of young people in India in different income categories. Nearly two- thirds of its

population is below the age of 35, and nearly 50 % is below 25. There are 56 million people in middle

class, who are earning US$ 4,400- US$ 21,800 a year. And there are 6 million rich households in India.

The upper-middle and high-income households in urban areas are expected to grow to 38.2 million in

2007 as against 14.6 million in 2000.

2.1.6 Current Scenario


6/39

Rural sector offers huge scope for consumer durables industry, as it accounts for 70% of the Indian

population. Rural areas have the penetration level of only 2% and 0.5% for refrigerators and washing

machines respectively. The urban market and the rural market are growing at the annual rates of 7%-

10%and 25% respectively. The rural market is growing faster than the urban market. The urban market

has now largely become a product replacement market. The bottom line is that Indian market is

changing rapidly and is showing unprecedented business opportunity.

2.1.7 Future Scenario

With easy availability of finance, emergence of double-income families, fall in prices due to increased

competition, government support, growth of media, availability of disposable incomes, improvements in

technology, reduction in customs duty, rise in temperatures, growth in consumer base of rural sector,

the consumer durables industry is growing at a fast pace. Given these factors, a good growth is

projected in the future, too.

The penetration level of consumer durables is very low in India, as compared with other countries. This

translates into vast unrealized potential.

For example, in case of color televisions (CTVs), the penetration level of various countries is:

TABLE 2.3

PENETRATION LEVEL IN VARIOUS COUNTRIES

India | 24% |

Brazil | 11% |

China | 98% |

US | 333% |

France | 235% |

Japan | 250% |

TABLE 2.4

Demand and Penetration Level of White Goods in India

| 1995-1996 | 2005-2006 | 2009-2010 |


7/39

Demand | 3.43 million | 8.72 million | 13.14 million |

Penetration level | 149 per 1,000 households | 319 per 1,000 households | 451 per 1,000

households |

In a study conducted by Frost & Sullivan and commissioned by India Semiconductor Association (ISA),

the demand for Electronic Appliances is projected to grow exponentially at a compounded annual

growth rate (CAGR) of 30%.

In billions

FIGURE 2.1

2.1.8 List of Companies

Some of the companies in consumer durables sector are:

1. AIWA

2. Akai India

3. BenQ Corporation

4. Blue Star Ltd.

5. Bose Corporation

6. BPL

7. Canon India

8. Carrier Aircon Ltd.

9. Daewoo India

10. Electrolux-Kelvinator

11. Godrej

12. Haier India

13. Hitachi Ltd.

14. Khaitan India Ltd.


8/39

15. LG Electronics India Ltd.

16. MIRC Electronics Ltd.

17. Mitsubishi Electronic Corporation

18. Nokia India

19 Pace Micro Technology

20. Panasonic

21. Philips India

22. Samsung India

23. Samtel

24. Sansui India

25. Siemens

26. Sony India

27. Thomson Ltd.

28. Titan Industries

29. Toshiba Corporation

30. Videocon Industries

31. Whirlpool Appliances

2.1.9 Top Players

The top 10 players in consumer durables sector are:

* Nokia India

* LG Electronics India Ltd.

* Philips India

* Titan Industries

* Samsung India Electronics


9/39

* Whirlpool Appliances

* Siemens

* Sony India

* Videocon Industries

* Blue star

2.2 PROFILE OF THE ORGANISATION

Usha International Limited. The Group's principal activity is to manufacture and sale of home appliances

and automotive components. The products include fans, sewing machines, appliances, power products,

auto components, water coolers. The Company export fans, sewing machines, diesel engines, diesel

engine parts and other automotive components. The Group operates in four segments, namely,Consumer durables, Engines, pump sets and motors, Auto products and others.

USHA international is one of the Indias known consumer durables marketing and distribution

companies. It started in 1957 and marketing its products for over 50 years under the brand name USHA

company majorly Manufacturing of Electric Fans and Fuel Injection Equipment. Presently USHA have

Over 50 million customers. They have a large distribution network in core categories. It is the First Indian

Company to be awarded ISO 9001:2000 for Marketing practices.

USHA international is a company under the flagship of Siddhartha Shriram group.

2.2.1 The Shriram group history

The group was incorporated by Lala Shriram (grandfather of Siddhartha Shriram) in 1889. Over the next

100 years, the group expanded into textiles, chemicals, sugar, automobiles, engines, rayons / nylon tyre

cord, automotive components, edible oils, heavy chemicals (fertilizers/ chlor caustic), engineering

foundries, sewing machines, fans, home appliances and other kind of items.

In 1989, the group was split amongst the descendants of Lala Shriram and the businesses that came to

Siddhartha Shrirams group have been mentioned below.

2.2.2 The Siddhartha Shriram group

Siddhartha Shriram group is one of Indias renowned business groups with interests as diverse as sugar,

edible oils and industrial chemicals to fans, appliances and automobile.

2.2.3 Joint ventures

Company has joint ventures with


10/39

* Hunter Fan Company, USA (Fans)

* Janome Sewing Machine Company, Japan (Sewing Machines)

2.2.4 Associates

Company associates with

* Honda Siel Power Products Ltd.

* G.D.Midea Environment Appliances Manufacturing Company Ltd., China

* NGK India

* CIXI Three Circle Diesel Engine Company Ltd. (Diesel Engines)

2.2.5 Mission of the company

Usha International's mission is to pursue excellence in all its spheres of business activity. It believes in

providing reasonable returns to its shareholders and adding value to the principal's business operations

through effective marketing. Thus, making it one of the leading marketing organisation in India. This

must be achieved by meeting customer requirements, providing them satisfaction thereby building their

trust in the company and its products.

2.2.6 History of the company

1934 | India's first indigenous sewing machine marketed. |

1946 | The first Indian Sewing Machine is exported. |

1948 | Fans are added to the product range. |

1950 | The first Indian Fan exported. |


11/39

1966 | Dr. Charat Ram appointed as Chairman of the board of UIL. |

1968 | Diesel Engines are added to the Usha product range. |

1975 | Usha becomes a Public Ltd. Company. |

1979 | Fuel Injection Equipment is introduced to the Usha Auto Components range. |

1982 | Usha Sales is renamed to Usha International. |

1984 | Launches a range of Home Appliances. |

1994 | Fourth generation fully automatic Sewing Machines in collaboration with Janome Sewing

Machine Company of Japan is added to the product range. |

1994 | Monoblock pumps followed by a complete range of water lifting equipment are launched.

|

1996 | Introduces a new range of diesel engines for power generation. |

2000 | Commences marketing of Light Weight Kerosene pump sets powered by Honda engines.

|

2001 | Tie-up with Hunter Fan Company of USA for marketing of premium Usha Hunter ceiling fans.

|

2005 | Purchase of Water Cooler factory from DAIPL. |

2007 | Appointed as super distributor for 2 and 3 wheeler spark plugs in India by NGK Spark Plug

Company Limited, Japan. |

2008 | Amalgamation of Usha International Limited and Shriram Fuel Injection Industries Limited with

The Jay Engineering Works Limited. The new merged entity called Usha International Limited. |

2.2.7 Diverse product portfolio

UIL is a multi product consumer durable marketing and distribution company with a diverse product

portfolio that includes the following six product lines:

TABLE 2.5

PRODUCT PORTFOLIO

Electric Fans | |

Sewing Machines | |


12/39

Home Appliances | |

Engines, Electrical motors & Pump sets. | |

Drinking water coolers & dispensers | |

Generators | |

Auto components. | |

2.3 UILs DISTRIBUTION NETWORK

2.3.1 Sales force

Separate sales force for 6 product lines and 3 different channels (traditional, modern retail and

government sales)

16 Locational offices across India, with a Location Head to ensure capture of synergies across product

lines

Strong experienced middle management in charge of sales.

2.3.2 Reach across India

Dealerships in all urban centres with population greater than 20,000

Penetration in important modern retail outlets (Future Group, Metro, Reliance)

Presence in rural India is contributing approximately 20% of the total sales.

2.3.3 Supply chain network

33 warehouses leased and managed in-house

SAP enabled across all UIL locations (head office, location offices, and warehouses)

2.3.4 Sales management practices

SBU led sales organization structure, with regional segregation of market

Coverage of dealers by trained sales staff


13/39

2.3.5 UIL Fan market in India

The fan market was a well developed and mature market. Fans were the 4th largest owned consumer

durable after watches, bicycles and radio sets. In the year 1993, the electrical fan market was more than

Rs 1000 crores.

The market was dominated by the top 5 brands- Usha, Orient, Crompton, Polar and Khaitan - who

controlled 70% of the market. They also enjoyed 95% awareness in the market. However, they were

gradually losing market share in a low growth stagnating market, where the rapid growth of the

unorganized sector (10% annually) was giving them stiff competition.

The organized fan industry had witnessed a decline of 30 per cent in production last year because of

competition from small scale units which escaped excise duty. Despite this Usha International had sold

more last year and gained market share.

The size of the market is Rs. 1,300-1,400 crores in value terms including the small scale sector and

Usha's share is half of this. On import threat from China, company pointed out that there was duty

protection of 40 per cent.

On the other hand in the plastic table and wall fans segment there may be a serious problem as China

can make them much cheaper. The company will continue to focus on strategic tie ups only in fans,

sewing machines, small appliances, engines and motors, auto components, air-conditioners and exports.

It has no intention to get into white goods.

At the top end, the company has joined hands with the U.S.-based Hunter Fan Company, biggest ceiling

manufacturer in the world. It will exclusively market the Hunter range of fans in India under the joint

branding of Usha Hunter. The tie up has enabled Usha to enter and create a high-end premium category

in the ceiling fans market.

The premium end ceiling fans costing Rs. 5,000 - 10,000 are meant for hotels, guest houses and air-

conditioned houses. The consumers can now look forward to super premium ceiling fans with wooden

blades with an option of imported Belgian and Italian light fittings to enhance the decor of any room.

Around eight models will be introduced in the first year.

The company last year had a turnover of Rs. 400 crores and a profit of Rs. 9.8 crores. This year would

witness marginal growth in the top line segment.

In an effort to expand its market share in the lower-end, the largest consumer durable marketing

company, Usha International is planning to launch low-cost fans christened Zipp, shortly. The company

is preparing a new marketing strategy to enhance the market share in the domestic fan market by


14/39

creating price points for targeted customers. Without compromising on the quality, the company is

planning to offer a range of fans to suite to the needs and paying capacity of the customers.

Company had launched 19 fan models between April and May 2003, besides the company will also

launch 10 models in the home appliances segments, he added. The models include: Ceiling fans range-

Opera, Optima, Sea Breeze, Sonata Decorative, Ultimate, Zipp, Table fans range-Mist Air EX, Zipp tablefan, Pedestal Fans range-Mist Air ultra, Mist Air Pedestal remote fan, Mist Air EX pedestal fan.

The company last year had a turnover of Rs. 400 crores and a profit of Rs. 9.8 crores. This year would

witness marginal growth in the top line segment.

On the financial front, the company hopes to achieve a turnover of over Rs 500 crore in the current year

as against Rs 400 crore turnovers reported in the last year.

2.4 PRODUCT LINE OF THE COMPANY

There are 6 types of fans marketed by the company:

TABLE 2.6

PRODUCT LINE

Ceiling Fans | Table Fans | Pedestal Fans |

Wall Fans | Exhaust Fans | Other Fans |

3.1 REVIEW OF LITERATURE

Channel satisfaction and its consequent impact on channel relationships has been an important concern

of both practitioners as well as researchers during the last three decades. This is in reaction to a world

wide trend towards building closer, and more integrated relationships between manufacturers and

channel intermediaries. It is being realized that one of the major prerequisites for achieving effective

integration of channel operations is the existence of high levels of commitment to the relationships. The

focus of managerial decisions with regard to channel management has thus shifted to a large extent on

creating and maintaining relationship commitment. As Morgan and Hunt (1994) in their seminal work on

channel commitment has put it relationship commitment is central to all the relational exchanges

between the firm and its various partners.

Drawing from studies from diverse domains such as marriage, social exchange, organizational behavior

etc. they feel that, Commitment and trust are very important because they encourage marketers to (1)

work at preserving relationship investments by cooperating with existing partners (2) resist attractive


15/39

short-term alternatives in favor of the expected long-term benefits of staying with existing partners and

(3) view potentially high-risk actions as being prudent because of the belief that their partners will not

act opportunistically.

Channel satisfaction is undoubtedly a major factor that could lead to greater levels of channel

commitment. Channel member satisfaction is defined as an overall positive affective state resulting fromthe appraisal of all aspects of a firms working relationship with another firm (e.g. Frazier, Gill and Kale

1989, Gaski and Nevin 1985). However, there exists considerable variation among channel theorists on

the exact definition of channel satisfaction (Andaleeb, 1995). In order to reduce this apparent variation

in conceptualization, Geyskins and Steenkamp (2000) proposed a two way classification of channel

satisfaction wherein satisfaction is defined in terms of its economic antecedents and social antecedents.

Economic satisfaction is described as a channel members evaluation of the economic outcome that

flows from the relationship with its partners such as sales volume, margins and discounts. Social

satisfaction on the other hand is defined as a channel members evaluation of the psychological aspects

of its relationship in that interactions with the exchange partner are fulfilling, gratifying and facile.

When we talk about customer service and/or satisfaction, we talk about creativity. Creativity allows us

to handle or diffuse problems at hand or later on in the process of conducting the everyday business.

We talk about how, or rather what, does the organization have to do to gain not only the sale but also

the loyalty of the customer. We want to know the payoff of the transaction both in the short and long

term. We want to know what our customers want. We want to know if our customers are satisfied.

Satisfaction, of course, means that what we delivered to a customer met the customers approval. We

want to know if customers are delighted and willing to come back, and so on. Fleiss2 and Feldman3

present examples of that delightfulness in their writings. Fleiss has written about Ben and Jerrys ice

cream and Feldman has discussed excellence in a cab ride.

As important as delightfulness is, some of us minimize it, or even totally disregard it. At this point, we

fail. Some of the issues that will guarantee failure in sales, satisfaction, and loyalty are:

Employees must adhere to a rigid chain of command

Employees are closely supervised

Conflictin whatever formis not allowed

Rewards are based on carrot-and-stick principles

Wrong objectives are measured

3.2 CUSTOMER SATISFACTION


16/39

Customer satisfaction is a key and valued outcome of good marketing practice. According to Drucker

(1954), the principle purpose of a business is to create satisfied customers. Increasing customer

satisfaction has been found to lead to higher future profitability (Anderson, Fornell, and Lehmann 1994),

lower costs related to defective goods and services (Anderson, Fornell, and Rust 1997), increased buyer

willingness to pay price premiums, provide referrals, and use more of the product (Reichheld 1996;

Anderson and Mittal 2000), and higher levels of customer retention and loyalty (Fornell 1992; Anderson

and Sullivan 1993; Bolton 1998). Increasing loyalty, in turn, has been found to lead to increases in future

revenue (Fornell 1992; Anderson, Fornell, and Lehmann 1994) and reductions in the cost of future

transactions (Reichheld 1996; Srivastava, Shervani, and Fahey 1998). All of this empirical evidence

suggests that customer satisfaction is valuable from both a customer goodwill perspective and an

organizations financial perspective.

A firms future profitability depends on satisfying customers in the present retained customers should

be viewed as revenue producing assets for the firm (Anderson and Sullivan 1993; Reichheld 1996;

Anderson and Mittal 2000). Empirical studies have found evidence that improved customer satisfaction

need not entail higher costs, in fact, improved customer satisfaction may lower costs due to a reductionin defective goods, product re-work, etc. (Fornell 1992; Anderson, Fornell, and Rust 1997). However, the

key to building long-term customer satisfaction and retention and reaping the benefits these efforts can

offer is to focus on the development of high quality products and services. Customer satisfaction and

retention that are bought through price promotions, rebates, switching barriers, and other such means

are unlikely to have the same long-run impact on profitability as when such attitudes and behaviors are

won through superior products and services (Anderson and Mittal 2000). Thus, squeezing additional

reliability out of a manufacturing or service delivery process may not increase perceived quality and

customer satisfaction as much as tailoring goods and services to meet customer needs (Fornell, Johnson,

Anderson, Cha, and Everitt 1996).

3.3 MEASURING CUSTOMER SATISFACTION

While it seems clear that increasing customer satisfaction is beneficial to a marketing manager, how to

measure it is less clear. Customer satisfaction has been studied from the perspective of the individual

customer and what drives their satisfaction (Oliver and Swan 1989; Oliver 1993; Fournier and Mick

1999) as well as from an industry-wide perspective to compare customer satisfaction scores across firms

and industries (Fornell 1992; Anderson, Fornell, and Lehmann 1994; Fornell et al. 1996; Mittal and

Kamakura 2001), while other research has examined customer satisfaction in a single organization

(Schlesinger and Zornitsky 1991; Hallowell 1996; Loveman 1998) or across several organizations(DeWulf, Odekerken-Schrder, and Iacobucci 2001). In addition, specific tools for measuring customer

satisfaction have been developed in the past, including SERVQUAL (Parasuraman, Berry, and Zeithaml

1988, 1991). Thus, there exists an ample literature on which to draw when attempting to measure

customer satisfaction.


17/39

In attempting to measure customer satisfaction, it is possible that attributes can have different

satisfaction implications for different consumer and market segmentsthe usage context, segment

population, and market environment can influence satisfaction and product use (Anderson and Mittal

2000). Failure to take into account segment-specific variation may lead a firm to focus on the wrong

aspect for a given set of consumers (Anderson and Mittal 2000). Furthermore, consumers with similar

satisfaction ratings, yet different characteristics, may exhibit different levels of repurchase behavior

(Mittal and Kamakura 2001). It is clear, then, that market and consumer segments should be important

factors to consider when measuring customer satisfaction and its implications.

Garbarino and Johnson (1999) did consider segments in the customer base in their study of satisfaction

where they analyzed the different role played by satisfaction between low relational and high relational

customers. Their study, however, involved customers from only a single organization. Our approach

extends this work by studying customers from multiple organizations, and shares some similarities with

Anderson and Sullivan (1993) with respect to the type of analysis and sampling methods. The goals of

their research, however, were to study the antecedents and consequences of customer satisfaction

rather than investigate how different types of satisfaction may influence the overall measure ofcustomer satisfaction. In addition, our theoretical approach shares some similarities to Hutchison,

Kamakura, and Lynch (2000) who posited that unobserved heterogeneity is a problem for interpreting

results from behavioral experiments. The basic point of their argument is that aggregation may create

effects that do not exist in any segments, or may mask effects that do exist. The present study makes a

similar point and provides an analytical method for overcoming such a problem. Kekre, Krishnan, and

Srinivasan (1995) examine heterogeneity of effects across individual customers of a single company

using a random effect ordered profit model. These models are similar to the hierarchical linear models

considered here, and a single customer could be considered a subunit.

3.3.1 Sub segments vs. Subunits

Other authors have examined the heterogeneity of customer satisfaction effects. Danaher (1998) shows

how latent class regression can be used to segment customers and estimate regression effects by

segment simultaneously. Our work is different in that we assume pre-defined subunitsour concern is

not to define segments that have different effects. For the problems examined here, the subunits

already exist. Danaher (1998) identifies segments of customers (end users) who place different

emphasis on different service attributes. Malthouse (2002) defines such a process as sub segmentation.

A firm has targeted a market segment and acquired customers/end users. It then sub segments these

customers/end users from a market segment into smaller, more homogeneous groups based on somecriteria such as utility for aspects of the product in the case of Danher (1998).

An important conceptual question concerns when one approach should be preferred over the other. We

make two points in response to this question. First, the pre-defined subunit approach to studying

heterogeneity is more appropriate when the resulting managerial actions will be implemented at the

subunit level. Second, managerial actions implemented at the subunit level are most reasonable when


18/39

there is homogeneity within a subunit and heterogeneity across subunits; when this is not the case the

organization should seek actions that can be implemented for sub segments of customers within a

subunit. We give several examples to illustrate these points.

Consider the case of a newspaper owner, discussed in more detail below. An owner in the U.S. has

multiple newspapers and wants to know whether to invest in improving either the service or thecontent of its individual papers. Investing in content could involve hiring additional reporters so that

local news can be covered more thoroughly, adding pages to existing sections, adding special-interest

sections, etc. For most newspapers in the U.S. these actions would have to be taken at the subunit level.

One might object by suggesting, for example, that large metropolitan newspapers (which represent only

a small percentage of U.S. newspapers) could improve content for specific suburban communities by

hiring reporters and adding customized local sections. We would argue that the suburban zone would

be a subunit.

A second example can be when actions primarily involve reach media. If a company is communicating a

single message with, for example, television, newspapers, billboards, etc., the message must be tailored

to the subunit reached by the media. A third example is managerial actions that are most naturally

applied at the subunit level of retail stores, car dealerships, supermarkets, and bank branches, as

discussed previously. A corporation could send employees of certain subunits, but not all, for specialized

customer service training programs. Corporations often choose where to locate subunits, and might opt

for more expensive locations in regions where convenience is more important. In addition, pricing

strategies often must be executed at the subunit level (Singh, Chintagunta, and Dube 2002).Of course;

there are numerous examples of situations where customer sub segmentations are more appropriate.

See Danaher (1998) or Malthouse (2002) for further discussion and examples.

The present research represents the first study of which we are aware to measure customer satisfaction

from a representative sample of customers who are in turn from a representative sample of

organizations in a single industry. The analysis was replicated in a second industry to confirm that the

findings are not unique to a single industry.

4. RESEARCH METHODOLOGY

4.1 TITLE OF THE STUDY

A Study on DEALERS SATISFACTION of USHA INTERNATIONAL LTD ERNAKULAM

4.2 Statement of the problem


19/39

The problem for the study was to estimate the dealers satisfaction of Usha International Limited and if

not in which areas they are not satisfied with the service of the company.

4.3 Scope of the study

This study covers respondents form the class II and Class III towns in Ernakulam district who are the

dealers of Usha fans. The result of the study can be used as a support data for UILs comprehensive

marketing programme.

4.4 Nature of the study

The type of research followed is mainly analytical and to a certain extent descriptive in nature. Analytical

research is the method used to analyze and draw inference from a set of facts or collected data. This

analysis is used to arrive at new information and facts.

4.5 Research Methodology

The research design is the conceptual structure within which research is conducted; it constitutes the

blueprint for the collection, measurement and analysis of data. The data was collected from 50 dealers

from Ernakulam district. A scheduled questionnaire was used to collect primary data on the other hand;

secondary data was collected using books, magazines and websites. Graphical tools including bar

diagrams, pie charts and statistical tools including percentage & chi-square analysis were used in the

process of analysis and interpretations of the collected data.

4.6 Universe

The dealers of UIL in the entire Ernakulam district concertedly contributed to the universe.

4.7 Population

50 dealers from the universe were selected randomnely for the survey.

4.8 Sampling

Simple random sampling was the method adopted for the selection of sample from the above-

mentioned universe.


20/39

4.9 SOURCE OF DATA COLLECTION

Both primary and secondary data were used for the data collection

* 4.9.1 PRIMARY DATA

The primary data was generated through the questionnaire by soliciting the response of the

dealers of UIL. The questionnaire has been tested for its validity before the research is been conducted.

The reliability test has given an Alpha value of 0.604. The reliability statistics has been given below.

TABLE 4.1

Case Processing Summary |

| | N | % |

Cases | Valid | 7 | 100.0 |

| Excluded a | 0 | .0 |

| Total | 7 | 100.0 |

a. List wise deletion based on all variables in the procedure. |

TABLE 4.2

Reliability Statistics |

Cronbach's Alpha | No of Items |

.604 | 10 |

4.10 TOOLS USED FOR THE STUDY

Various statistical tools have used for the study.

1. Reliability test has been conducted f finding out the Alpha value for the questionnaire used for the

survey.

2. Statistical tool like ANOVA is used for testing the Hypothesis generated


21/39

3. Statistical tables, Charts and Diagrams are used for the presentation of the data.

4. Analysis being carried down by the help of statistical software like SPSS

4.11 Limitations of the study

* Since the study was within a period of 8 weeks, time factor was a major constraint.

* The study was based on the assumption that the respondents will always be truthful and correct. But

this assumption might not be true always.

* The study depends upon responses of the respondents, who are believed to be giving the right

information. Thus the accuracy of the survey and its findings depends a lot on the respondents and their

responses.

* This sample size cannot represent the features and characteristics of the universe to its entirety.

* The study was confined to the Erankulam district, so the results may not be the same in other parts

of Kerala which are having different market conditions.

5 ANALYSIS AND INTERPRETATIONS

TABLE 5.1

EXPERIENCE IN DEALERSHP |

Sl No. | Criteria | No. of respondents |

1 | 13 years | 2 |

2 | 47 years | 8 |

3 | 810 years | 15 |

4 | Above 10 years | 25 |

TOTAL | 50 |

FIGURE 5.1

INFERENCE:


22/39

The experience of the dealers matters a lot in this analysis to find the degree of dealers satisfaction. The

percentage analysis gives the percentage of their experience in their dealership and if it is higher the

analysis have the higher value.

Of about 50 dealers 50% of are having above ten years experience and 30% are in the business of about

8-10 years. The other 16% have 4-7 years of experience and the rest 4% of the dealers have 1-3 yearsexperience. Since the chart above shows the dealers have considerable experience and their answers

are valued much and their statements are very much helpful for the analysis to come effective.

TABLE 5.2

QUALITY OF USHA FANS |


1 | VERY GOOD | 24 |

2 | GOOD | 18 |

3 | SATISFACTORY | 8 |

4 | POOR | 0 |

TOTAL | 50 |

FIGURE 5.2

INFERENCE:

The chart above shows the degree of reliability on the quality of USHA products the dealers have. From

this inference we can analyse the quality USHA offers to their customers. Most of the dealers said the

quality of USHA is unbeatable. Around 48% dealers have the opinion that it is very good, 36% of the

dealers say the quality is good and only a mere 16% of them have the opinion Satisfactory. No one

reported on poor quality products from USHA.

TABLE 5.3

CREDIT PERIOD ALLOWED |

Sl No. | Criteria | No. of respondents | % of respondents |

1 | VERY GOOD | 18 | 36 |


23/39

2 | GOOD | 22 | 44 |

3 | SATISFACTORY | 10 | 20 |

4 | POOR | 0 | 0 |

TOTAL | 50 | 100 |

FIGURE 5.3

INFERENCE:

This table shows the degree of dealers satisfaction on the credit period allowed by USHA to them. Most

of the dealers are satisfied with the credit period allowed. 36% of the dealers are very much satisfied

about the credit period offered to them. 44% of the dealers are voted Good and 20% of the dealers

find no faults and almost satisfied with the credit period allowed. None of the dealer has reported that

the credit period allowed is not matching with them.

TABLE 5.4

RATING OF PROMOTION ACTIVITIES |


1 | VERY GOOD | 3 |

2 | GOOD | 15 |

3 | SATISFACTORY | 27 |

4 | POOR | 5 |

TOTAL | 50 |

FIGURE 5.4


24/39

INFERENCE:

The promotion, one of the Ps of marketing is most important for the survival of any business concern,

be it public or private, service or production. From the analysis, the promotion activities carried out by

USHA is found to be satisfactory. 6% of dealers found it extremely well and 30% of the dealers have

reported as Good. 54% of the dealers are satisfied and the rest 10% of the dealers are reportingpoor. According to them the competitors are giving good promotion for their products compared to

Usha.

TABLE 5.5

OPINION ABOUT PRICING |


1 | VERY HIGH | 10 | 20 |

2 | HIGH | 24 | 48 |

3 | AVERAGE | 16 | 32 |

4 | LOW | 0 | 0 |

TOTAL | 50 | 100 |

INFERENCE:

This table shows the opinion of the dealers and customers about the price of the USHA products. At any

time, the price of a companys product is always discussed; even it is maintained at a low cost. But when

asked to a lot of customers the real fact is revealed. Among the 50 dealers, 20% of them reported that

the product is priced the highest, 48% of them are reporting it is higher but not the highest.

32% of the dealers are satisfied with the price, because of the products quality. And none of the dealers

have reported that the price is lower and no problem to deal with that.

To compete with the low cost products available in the market, the company has recently launched

products like Zipp, Atom etc.


25/39

TABLE 5.6

Employees relationship to dealers |


1 | HIGHLY SATISFIED | 12 | 24 |

2 | SATISFIED | 28 | 56 |

3 | MODERATE | 10 | 20 |

4 | DISSATISFIED | 0 | 0 |

TOTAL | 50 | 100 |

INFERENCE:

In the pursuit of marketing, maintaining good relationship with the dealers is essential. The employees

of the firm should maintain a good rapport with the dealers in order to carry on their business in a

smooth fashion.

This table shows that no dealer has a trouble in dealing with the employees of USHA, which is also a

main factor affecting the dealership and their satisfaction. The friendly relation with the dealers helpsmuch better for an organization to flourish.

Here, in the case of USHA, the replies depicts that they have understood this concept very well. 24% of

the dealers are proud to be the dealers of USHA and 56 % are much satisfied. 20 % produce average

results and none of them have reported a poor relationship with the employees of the company.

TABLE 5.7

OPINION ABOUT AFTER SALES SERVICE |


1 | HIGHLY SATISFIED | 3 |

2 | SATISFIED | 10 |

3 | MODERATE | 35 |


26/39

4 | DISSATISFIED | 2 |

TOTAL | 50 |

FIGURE 5.5

INFERENCE:

After sales-service, is very much important for a manufacturing company to bloom. In that matter, Usha

finds a little problem with the dealers. They are quite satisfied, because, no product will be of under-

quality and a very few if found to be defective, are replaced and repaired sooner.

From the above figure, it is evident that from the aftersales service offered by the company 6 % and

20%, so totally 26 % of the dealers have no problem and they are satisfied well. But 70 % of the dealersvoted that the service is only moderate and 4% of the dealers find some problems in the after sales

service.

On observation, the dealers are having problem with the after sales service which is unavoidable. They

say that it takes time for the product to get repaired and having comparatively less problems with the

replacement; hence they do use local mechanics for the sudden repair.

TABLE 5.8

DEALERS EXPECTATION ON PROMOTIONAL ACTIVITY |


1 | DISCOUNT | 32 | 64 |

2 | GIFT | 4 | 8 |

3 | PRIZE | 5 | 10 |

4 | OTHER OFFERS | 9 | 18 |

TOTAL | 50 | 100 |

FIGURE 5.6


27/39

INFERENCE:

Some dealers have the suggestions, and the suggestions about the promotional activities are, shown in

the table. It becomes essential for the manufacturing organization to satisfy its dealers by the way to

sustain and compete.

USHA already offering discounts and they are satisfied with it. Hence the 64 % of the dealers find no

problem with the promotional activity and they get what they expect. 18% of the dealers expect offers

when they purchase in bulk. 8% expect for the gift items and 10% expect prizes to be offered.

TABLE 5.9

PROMOTING FACTOR |


1 | PROMOTION | 5 |

2 | BRAND NAME | 25 |

3 | COMPANY POLICY | 3 |

4 | MARGIN | 12 |

5 | SCHEMES | 5 |

TOTAL | 50 |

FIGURE 5.7

INFERENCE:

While talking with the dealers about the main factors which drive them to deal with USHA, it came out

that most of the dealers prefer on Brand name to be the first factor. About 50% of the dealers are

dealing with Usha products because of its Brand name. 24 % of the dealers have voted for margin and

10% for the promotional schemes and 6% for the company policies. Though the dealers prefer margin,

promotional schemes etc apart from the Brand name, they believe that it is the Brand name of the

company and its products which are the main factors behind their promotion of the brand.

TABLE 5.10


28/39

DEALING WITH COMPETITORS |


1 | YES | 50 | 100 |

2 | NO | 0 | 0 |

TOTAL | 50 | 100 |

INFERENCE:

Most of the dealers deal with the competitors also. This is because it is very essential for them to satisfy

their various kinds of customers who have different brand and product preferences.

Most of them are dealing in products of companies like Crompton Greaves, Havells, Bajaj, Khaitan, Polar

and many other local brands. Many of them are dominated by Crompton Greaves.

ANOVA Table for Comparison of Dealers Experience with their Satisfaction on the Promotional

Activities:

Hypothesis:

Ho : There is no significant relation between the dealers work life and their Satisfaction Level on the

Promotional Activities.

H1 : There is a significant relation between the dealers work life and their Satisfaction Level on the

Promotional Activities.

TABLE 5.11

ANOVA |

EXPERIENCE |


29/39

| Sum of Squares | df | Mean Square | F | Sig. |

Between Groups | 3.048 | 1 | 3.048 | 22.857 | .005 |

Within Groups | .667 | 5 | .133 | | |

Total | 3.714 | 6 | | | |

From the table above, Degree of Freedom = 1, the value of F = 22.857, the significance lesser than 0.05,

thereof the null hypothesis is rejected, by accepting the alternate hypothesis.

Therefore, there is a significant relation between the dealers experience and their Satisfaction Level on

the Promotional Activities, and most of the well experienced dealers are satisfied with the promotional

activities.

6.1 FINDINGS

* Usha have got an array of well established dealers. The dealers have a good track record of their

business.

* The dealers are satisfied with the quality of the products which are offered by Usha. None of the

dealers said that the products are of poor quality.

* It is found that the price is a little higher for the Usha products but when considering about the

quality, the product is worth the price. Most of the dealers are satisfied with the price, because of the

products quality and none of the dealers reported that the price is lower so no problem to deal with

that.

* The friendly relation helps much better for an organization to flourish. Here, in the case of Usha, thefeedback depicts that they have understood this concept very well. The dealers are happy with the

involvement of the employees of UIL.


30/39

* On observation, some of the dealers are having problem with the after sales service which is

unavoidable. They say that it takes time for the product to get repaired, hence they do use local

mechanics for the sudden repair but no problem faced on the replacement front.

* Most of the dealers also deal with the competitors. This is because it is very essential for them to

satisfy the customers who have different brand and product preferences.

* From the observation, it is found that there are complaints about the profitability and price of Usha

products. Because the margin they are getting is less compared with the immediate competitors.

* There is a significant relation between the dealers experience and their Satisfaction Level on the

Credit Period allowed and most of the well experienced dealers are satisfied with the credit period. The

company gives less credit period to the new dealers. When they prove to be good with their payment

pattern, the company gives extension on the credit period and payment modes.

* There is a significant relation between the dealers experience and their Satisfaction Level on the

Promotional Activities, and most of the well experienced dealers are satisfied with the promotional

activities given by the company such as hoardings, name boards, display aids etc.

* While talking with the dealers about the main factors which drive them to deal with USHA, it came

out that most of the dealers prefer on Brand name to be the first factor other than the profitability.

6.2 SUGGESTIONS

The main objective of every analysis is to find the faults and road blocks of a business.

Some of the suggestions, based on the 4Ps of marketing are:

PRODUCT


31/39

* Usha fans are well known for their durability, but the imported Chinese fans called the Mist Air series

are having a shorter life. More complaints are arising from this imported Mist Air series. The company

should be careful about these series fan; otherwise the brand name may be affected.

* Trendy designs should be adopted to have an aesthetical appeal which is lacking for Usha fans

compared with the competitors products, especially Havells and Crompton Greaves

* Most of the dealers are not highly satisfied with the after-sales service given by the company. It

should be taken care of because it is the vital factor in every business. For this, a Gap analysis can be

done to find out where the company is lacking in delivering the after sales service activities, and the

effective measures can be taken.

* Opening more service centers across Kerala is needed for the better after sales programme. The

major towns like Kottayam, Alappuzha, and Palakkad are not having a service centre for the company at

present. By opening service centers at these places, the company can cater to the needs of a wide

customer base across Kerala.

* Periodic training programs should be conducted for the technicians as the company is extending the

product line periodically. They should become familiarized with the technical specifications of the

products for providing better after sales service.

PRICE

* The company is offering discounts and allowances in the form of trade discounts to the dealers. But

the existing trade discount packages are benefiting the dealers who are doing big volumes of business.

The dealers in the class II and Class III towns may not be able to do that much volume. In order to

improve the rural sales, existing trade discounts should be made in that way which should be motivating

those dealers to do the business.

* Cash discounts are offered to the dealers who are making advance payments. It is now merely 2%.

Increasing that level may motivate the dealers for the cash purchase as they are getting this benefit

other than the trade discounts.


32/39

PLACE

* The company should focus more on the rural market as it contributes nearly 20% of the total sales

and is an untapped market too. It can be beautifully done through the newly introduced low cost

products like Zipp, Wind, Zen and Atom etc.

* The company is having a different channel for the low end model like Zen. Either by adding members

to this channel or by using the existing Members the rural market can be captured.

* It will be better to have a feedback from the dealers at regular intervals, to minimize the

communication gap in the distribution process between the dealers and company people.

* The dealers have some complaints about the delivery of goods. The company is using road transport

for the delivery of goods with the help of different transporting companies. It should be taken care of

while selecting the transporter. So that the deliveries can be made in time.

PROMOTION

* The company is now mainly focusing on the Push strategy for promotion. Since the competition is

strengthening, Pull strategy also can be used along with this.

* The existing trade promotion schemes are not offering much to the small scale dealers. There should

be good trade promotion schemes which support the smaller dealers too.

* The immediate competitors are far ahead of Usha in using the Pull strategy. Usha should concentrate

more on advertising through Visual Media.

* Billboards or hoardings can be used as an outdoor promotional method instead of the existing wall

paintings. The billboards are to be more attractive.


33/39

* In store advertising can be designed to increase the number of spontaneous buying decision. Studies

revealed that nearly 70% of all buying decisions are made in the store.

* To encourage repeated purchases, Usha can take many short-term actions such as price promotions,

coupons, displays, and repetitive advertising.

* Admissibility of brand ambassadors plays an important role in the advertising campaign. Presently

Usha is not having a brand ambassador for the promotion.

7. CONCLUSION

Competing is the global brand and it is difficult one. From the survival point of view, UIL should enter

into all aspects of marketing activities to improve the product life in the future market. The company has

mostly achieved in satisfying its dealers and as well as its customers. It is evident from this study and UIL

is advised to maintain its Quality on its products so as to retain this stage forever. The study has been

successful in knowing the Dealers Satisfaction with Usha International Limited.

In order to successfully design long term policies aimed to foster manufacturers-dealers relationships, it

has been demonstrated that manufacturers must give up decisions exclusively oriented to generateimmediate benefits. In fact such policies may disclose future company failure.

The study is not entirely devoid of limitations. The sampling methodology deviates substantially from a

pure random sampling based methodology and therefore reduces the generalisability of the study.

Future studies could look at different contexts as well as inclusion of other moderators.

ANNEXURE

A Study on DEALERS SATISFACTION of USHA INTERNATIONAL LTD ERNAKULAM with special reference

to the class II & Class III towns in the Ernakulum district


36/39


8. What type of promotional activity do you prefer with USHA products?

Discount Gift Prize Offers Others (Specify)..

9. Whether the expected quantity of USHA products is supplied to you in time?

Yes No

10. What do you feel about the employees dealing with you in USHA?

Highly Satisfied Satisfied

Average Dissatisfied

11. What are the factors that you expect from USHA?

Promotional Sales follow-up Scheme

Service Credit Facility Others

12. Do you have any complaints about USHA products?

Yes No


37/39

If Yes, specify the reason,

Delivery of goods Quality of products

After sales service Pricing

13. Do you recommend your customers about USHA products?

Yes No

-------------------------------------------------

If No, specify the reason,

-------------------------------------------------

14. What do you feel about after sales service given by USHA?

Highly Satisfied Satisfied

Moderate Dissatisfied

15. Do you have any suggestions to improve the quality of USHA products?

Yes No

-------------------------------------------------

If Yes, specify,

-------------------------------------------------


38/39

BIBLIOGRAPHY

BOOKS

* Drucker, Peter F. (1954), The Practice of Management, New York: Harper & Row.

JOURNALS

* Andaleeb, S. S. (1995) Dependence Relations and the Moderating Role of Trust: Implications for

Behavioural Intentions in Marketing Channels, International Journal of Research in Marketing, Vol 12

No 2, pp. 157-172

* Anderson, Eugene W., Claes Fornell, and Donald R. Lehmann (1994), Customer Satisfaction, Market

Share, and Profitability: Findings from Sweden, Journal of Marketing, 58 (3), 53-66.

* Anderson, Eugene W., Claes Fornell, and Roland T. Rust (1997), Customer Satisfaction, Productivity,

and Profitability: Differences Between Goods and Services, Marketing Science, 16 (2), 129-145.

* Anderson, Eugene W. and Vikas Mittal (2000), Strengthening the Satisfaction-Profit Chain, Journal

of Service Research, 3 (2), 107-120

* Danaher, Peter J. (1998), Customer Heterogeneity in Service Management, Journal of Service

Research, 1 (2), 129-139.

* Fornell, Claes (1992), A National Customer Satisfaction Barometer: The Swedish Experience,

Journal of Marketing, 56 (1), 6-21.

* Frazier, G.L., James D. Gill and Sudhir H. Kale (1989) Dealer Dependence Levels and Reciprocal

Actions in a Channel of Distribution in a Developing Country, Journal of Marketing, Vol.53, pp:50-69


39/39

* Geyskens, I; Steenkamp(1999), J.E.M.; Kumar, N. A meta-analysis of satisfaction in marketing channel

relationships. Journal of Marketing Research. Chicago: Mai, Vol.36. p. 223.

* Mittal, Vikas and Wagner A. Kamakura (2001), Satisfaction, Repurchase Intent, and Repurchase

Behavior: Investigating the Moderating Effect of Customer Characteristics, Journal of Marketing

Research, 38 (1), 131-142.

* Parasuraman, A., Leonard L. Berry, and Valarie A. Zeithaml (1988), SERVQUAL: A Multiple-Item Scale

for Measuring Consumer Perceptions of Service Quality, Journal of Retailing, 64 (Spring), 12-40.

* Singh, Vishal, Pradeep Chintagunta, and Jean-Pierre Dube (2002), Balancing Profitability and

Customer Welfare: An Application to Zone Pricing by a Supermarket Chain," Working Paper.

* Srivastava, Rajendra K., Tasadduq A. Shervani, and Liam Fahey (1998), Market-Based Assets and

Shareholder Value: A Framework for Analysis, Journal of Marketing, 62 (1), 2-18.

Documents

Dealer Satisfaction -Usha