MARKET RESEARCH ON BIKESTHE ANALYSIS REPORT
SUBMITTED TO : SUBMITTED BY : PROF. VIJAY NAGRANI R. SHAH ( ) ABH KISHORE (748) JAYESH . SAUR
ACKNOWLEDGEMENT1. PROF. VIJAY NAGRANI 2. RESPECTED PARENTS 3. FRIENDS AND COLLEAGUES 4. ALL THE PARTICIPANTS 5. ABOVE ALL, THE ALMIGHTY.
THE EXECUTIVE SUMMARYIn Feb 2008, we, Group no.13 were assigned a project on the consumer perception and buying behaviour on various products and goods, as a part of our course curriculum, by concerned faculty PROF. VIJAY NAGRANI. We chose bikes as our product for the project work. The results in the survey indicated Hero Honda and Bajaj in a neck to neck competition but the awareness for Bajaj is much more in the consumers as compared to Hero Honda, thanks to the advertising by Bajaj Auto Ltd. The project bean with valuable knowledge sharing between our group and the concerned faculty, which provided us with valuable insights on various brands present in huge range in the market. The survey began with listing down the objectives of the project work and then designing the questionaire accordingly. In designing the questionaire we considered all the required parameters. After that we did a pilot survey on 10 consumers and the necessary changes were made in the questionaire. Then we started off with the final survey In the survey , we included people from three areas students, servicemen and businessmen. The findings of the research shows Among the five attributes ( which we considered important for customers purchasing decision ) customers gave highest consideration to looks and style followed by the mileage. Other attributes like comfort, service and spares were considered later. Normally, all the three segments maintained their bike single handed and thestudents and the servicemen serviced their bikes regularly but the businessmen were a little hesitent in their servcing of the bikes. Electronic media ( TV) is the most commonly used medium for the brand awareness. Other medias like magazines, newspaper, hoardings came later.
The most important finding is that brand advertising for Bajaj is much more than any other brand and is quickly picking up the interest of the cosumers and hence coming with a larger market share. May be it could overcede Hero Honda in a couple of days to come.
Overview of the automobile industry the bike segmentBikes or two wheelers in India cater to various needs of the consumers. With the choice of the Indians improving from bicycles to two wheelers, the Indian two-wheeler market has seen a significant growth over the years. Now owing a bike has become a must for most Indians. Even if people own a car they prefer to have a bike as it is very economical and fuel efficient. With the growth in the economy the demand for two wheelers is increasing over the years. It is one of the most dynamic industries today and with the increasing competition companies are bringing in new products with sophisticated technologies and innovative features to capture a major pie of the Indian market and its the consumer who is benefited from it.. With the availability of reduced consumer loans and high disposable income the Indian two-wheeler industry has perceived an exceptional growth over the past few years thereby making India the second largest market for two wheelers in the world only after China. The motorcycle has now become one most popular mode of transportation among the Indian middle class families because of it is cost effective, economical and easy to navigate through the traffic. Moreover, the people have started preferring bikes instead of scooters and mopeds and today bikes form a major part of the Indian two wheelers. Indian companies are one of the largest two wheeler manufacturers in the world. The number one bike manufacturer in the world, Hero Honda is in close competition with the Indian manufacturer Bajaj India. The motorcycle industry in India has witnessed a tremendous change in the 90s with the invention of 4 stroke engine which makes the bikes more fuel efficient. Further companies are trying to bring in more innovations to make the motorcycle ride more comfortable, safe and user friendly and economical.
In a nut shell the followings factors can be distinguished for the growth of motorcycle industry in India:
Easy accessibility to cheap consumer loans The increase in the average income of the family. The reduction in duties and taxes. Convenience with regards to commuting as compared to the public transport system. Continuous innovations in technology making the bikes economic and fuel-efficient. The first choice among youths and teenagers.
Product DetailsThere are many popular and renowned motorcycles in India. The most popular among them are Hero Honda and Royal Enfield. Bajaj Auto Ltd. is one of them. Bajaj Auto Limited, manufacturing a range of motorcycles and scooters, was founded in 1945 on 29th November. With the onset in the Indian market, the company was only manufacturing two wheelers and later it also made a benchmark in the three wheeler industry. This popular company became a public limited company in 1960. Hero Honda Motors Ltd. is another popular motorcycle company in India. This company, started in 1984, was a successful joint venture between Hero Cycles and Honda Motor Company of Japan. Since the commencement of the company, Hero Honda has manufactured and sold more than 15 million motorcycles. The company has established a niche in the competitive Indian and international market for manufacturing low maintenance and high fuel efficient motorcycles.
When it comes to Indian motorcycle, Royal Enfield hits the mind of every Indian motorcycle lovers because it is one of the premier bike companies in India. This company was founded by the son of George Townsend in 1851 and was further taken over by Albert Edie and R.W. Smith in 1891. TVS Motor Company Ltd and Yamaha Motor India Ltd also have carved a niche in the Indian motorcycle market. TVS Motor Company, established by T. V. Sundaram Iyengar in 1911, is believed to be the third largest manufacturer of two-wheeler in India. TVS came up with the first two-seater moped in 1980 that eventually defined the dominion of personal transportation in India. This company entered into a joint venture with Suzuki Motor Corporation of Japan in 1982. This collaboration was the first company to introduce a 100-cc motorcycle in the markets of India. Yamaha Motor India Ltd. is continuously making efforts to break down the competitive two wheeler market in India and win the battle with its business strategies. The business strategies and principles of this company is customer fulfillment through quality service, research and development for introducing high end motorcycles and optimization of the working system
Objective of the researchTo find out the consumer preference level and taste across Delhi and NCR region of different segments. Gauge customer taste and preference for various brands of bikes on available parameters like mileage, style, comfort etc. What factors guide consumer buying behavior for bikes? Which is the leading brand in the market and the relative position of the companies from consumers point of view? Identifying possible areas of improvement.
Research methodology1. The target customers were segmented into three parts- the students, the officials and the business professionals. 2. There were 40 students, 37 businessmen, and 44 officials 3. They were made to fill up the questionnaire designed for the bikes.
4. The target area identified was Delhi and NCR region.5. The data collected from the questionnaires were sorted according to the three different segments.
6. The data was carefully analyzed for the choice and preferences of the target customers. 7. The data collected was presented on the excel sheet with the help of bar graph and pie chart.
1) Do you use bikes?
OVERALL DATA ANALYSED
ALL THE ABOVE PARTICIPANTS USED BIKES OF ONE OR MORE KIND.
2) Which bike do you use?
OVERALL DATA ANALYSED OBJECTIVE : TO KNOW THE POPULARITY OF BRANDS AMONG VARIOUS SEGMENTS FINDINGS : OVERALL FINDINGS SHOW THAT HERO HONDA IS THE MARKET LEADER IN ALL THE SEGMENTS FOLLOWED BY BAJAJ AND TVS. FEW OTHER POPULAR BRANDS INCLUDE ROYAL ENFIELD AMONG STUDENTS AND YAMAHA AMONG SERVICE AND BUSINESS CLASS PEOPLE.
3) Is the present bike up to your expectations? No
OVERALL DATA ANALYSED
OBJECTIVE: TO EVALUATE THE SATISFACTION OF THE PARTICIPANTS FROM THE PRODUCT FINDINGS : IN THE OVERALL FINDINGS, 99 OUT OF 121 PARTICIPANTS WERE SATISFIED WITH THEIR PRESENT BIKES. BUT THE SEGMENT WISE FINDINGS SHOWS THAT THE STUDENTS AND THE SERVICEMEN ARE MUCH MORE SATISFIED IN COMPARISON TO THE BUSINESSMEN.
4) Are you planning to buy a new bike in the near future? NO
OVERALL DATA ANALYSED
OBJECTIVE : TO FIND OUT THE NEW PURCHASES TO BE MADE IN THE NEAR FUTURE FINDINGS : OVERALL FINDINGS SHOW THAT MORE THAN 50% OF THE PARTICIPANTS ARE PLANNING TO BUY A NEW BIKE IN THE NEAR FUTURE AND THE SAME TREND WAS SEEN IN ALL THE THREE SEGMENTS.
5) Which brand would you prefer?a)
Hero Honda b) Bajaj Others (plz specify)
OVERALL DATA ANALYSED
OBJECTIVE : TO ESTIMATE THE BUYING PREFERANCE FOR THE PRODUCT AMONG THE PARTICIPANTS. FINDINGS: THE OVERALL FINDINGS SHOW THAT BAJAJ IS THE MOST PREFERED BRAND AMONG THE PARTI