Project Report of Chirantan Sen

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Table of Contents 1. Executive Summary: .......................................................................................................................... 3

2. Introduction: ..................................................................................................................................... 4

2.1 The Time Share Concept: ................................................................................................................... 5

2.1.1 Fixed Time Share Concept: ................................................................................................................ 5

2.1.2 Floating Time Share Concept: ........................................................................................................... 5

3. Company Profile: ............................................................................................................................... 7

3.1 Company: ........................................................................................................................................... 7

3.2 Parentage........................................................................................................................................... 7

3.3 Domain Expertise ............................................................................................................................... 8

3.4 Mission............................................................................................................................................... 8

3.5 Vision ................................................................................................................................................. 8

3.6 Logo: .................................................................................................................................................. 8

4. Product Profile: ................................................................................................................................. 9

5. Literature Review: ........................................................................................................................... 10

6. Conceptual Framework: .................................................................................................................. 11

7. Research Rationale: ........................................................................................................................ 12

7.1 Statement of the Problem: .............................................................................................................. 12

7.2 Research Questions: ........................................................................................................................ 12

7.3 Research Hypothesis: ...................................................................................................................... 12

8. Objective of the Study: ................................................................................................................... 13

9. Nature and Scope of the Study: ...................................................................................................... 13

10. Method of the Study: ...................................................................................................................... 14

10.1 Population: ...................................................................................................................................... 14

10.2 Sampling Unit: ................................................................................................................................. 14

10.3 Extent: ............................................................................................................................................. 14

10.4 Period: ............................................................................................................................................. 14

10.5 Sample Size: ..................................................................................................................................... 14

10.6 Sampling Procedures: ...................................................................................................................... 14

10.6.1 Multistage sampling ........................................................................................................................ 14

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10.7 Research Instrument: ...................................................................................................................... 15

10.8 Research Methodology: .................................................................................................................. 15

10.9 Data Collection Technique: ............................................................................................................. 15

10.9.1 Primary Data: .................................................................................................................................. 15

10.9.2 Secondary Data: .............................................................................................................................. 15

10.10 Types of Research: .......................................................................................................................... 16

11. Data Analysis and Design: ............................................................................................................... 17

11.1 Demographic analysis of the respondents: ..................................................................................... 17

11.1.1 In terms of Age Group: .................................................................................................................... 17

11.1.2 In terms of Occupation: .................................................................................................................. 18

11.1.3 In Terms of Income: ........................................................................................................................ 19

11.1.4 People Spent on holidays per year: ................................................................................................. 19

11.1.5 Percentage of purchased membership in terms of occupation: ..................................................... 20

11.1.6 Percentage of Purchased membership in terms of age: .................................................................. 20

11.2 Analysis of the most attractive feature of the Product: .................................................................. 21

11.3 Analysis of most undesirable feature of the Product: ..................................................................... 23

11.4 To analyze whether the most attractive factor has significance on sales: ...................................... 25

11.4.1 Result of the correlation Test: ......................................................................................................... 25

11.4.2 Regression analysis: ......................................................................................................................... 28

12. Findings & Suggestions: .................................................................................................................. 29

13. Limitations of the Study: ................................................................................................................. 30

14. Conclusion: ...................................................................................................................................... 30

15. Bibliography: ................................................................................................................................... 31

15.1 Web Sources: ................................................................................................................................... 31

16. Annexures ....................................................................................................................................... 33

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1. Executive Summary: This research work was started from November, 2013 to identify the factors which have the

positive and the negative effects on the customer’s purchasing decision in Time Share resorts

industry. The research work was carried out in Uttarakhand state. As the time share holiday

concept has proven itself as a very modern and booming concept of doing holidays in India, it

seeks new concepts and theories to serve its members and new customers better. The research

work was carried out with help of the market leader, Club Mahindra, to get the deepest insight

of the customer’s decision making process. For this purpose a direct approach was taken, in

which customers were made aware about the time share concept of doing holidays with the

help of a presentation structured by Club Mahindra and interview with the customers for at

least 45 minutes with each family by sitting at Club Mahindra’s office. For the aforementioned

study 30 customers were considered as the total sample size. The answers of these samples

were recorded with the help of the structured questionnaires and were analyzed accordingly to

fulfill the objectives of the research work.

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2. Introduction: Timeshare concept has become a renowned concept of doing Holidays in the world. Holiday

Giants are developing new concepts every moment to make their offerings more attractive.

Timeshare can be defined as “An arrangement whereby joint owners’ use a property as a

Holiday Home at different specified times.” It was in the 1960s when the timeshare concept

came into the picture. The oil crisis that followed only reinforced the logic of buying vacation

ownership as against investing big in individual ownership of property. The Timeshare concept

in India was introduced by Dalmia Resorts in 1985. After that Sterling was fast to catch up, this

came into existence in 1986. In today’s date one of the major players of timeshare industry in

India is Club Mahindra. Club Mahindra started operation in September 1996 in Chennai and has

proven themselves as the market leader in the timeshare space, with a market share of nearly

72%, in the third quarter of 2012-13. The sales and net profit during this period rose by 19%

and 14%, respectively, compared with that in the same period last year. Other major players in

timeshare industry in India are Resort Condominiums Internationals, Ramada Hotels & Resorts,

Hyatt Vacation Club, Marriott vacation club, Holiday Inn, Clifftop Club, Sterling Holidays, and

Magic Holidays.

Statistics from latest survey of the timeshare industry confirms that Customer Satisfaction index

is reaching over 85%. 64% of timeshare owners are delighted and are ready to recommend

their home resorts to the other family members and friends. Average growth rate of Timeshare

industry in India is over 15% on a compounded rate. India’s timeshare industry adds 18000

members annually.

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2.1 The Time Share Concept:

According to Oxford Dictionary timeshare is defined as “an arrangement whereby joint owners’

use a property as a holiday home at different specified times”. In time share an organization

establishes a number of resorts and collects money to make a pool and entitles the customers

as the owner of the resorts for a specific time window of the year for a particular tenure. Here a

customer takes upfront just to secure his holidays at quality resorts and quality services, which

another way makes the customer free from the inflation effect.

Although timeshare projects were on a small, fragmented and relatively unregulated, timeshare

had started to take off and by the end of the 1970s annual sales had risen to $50million.

Timeshare has evolved over the years from the fixed week system to the latest point systems

though the systems have their own pros and cons.

One of the biggest attractions of timesharing is the ability to exchange one’s timeshare week

for a week at a timeshare. High satisfaction rate, affordability and low market penetration hold

the promise for future industry growth.

2.1.1 Fixed Time Share Concept:

In the 1960s, timeshare resorts were sold in “Fixed-Week” increments, which simply meant that

the consumers was entitled to use the resort’s facilities at a set week, every year for the length

of the agreement.

2.1.2 Floating Time Share Concept:

In the 1970s and 1980s, consumers began demanding more flexibility in how they could use

their purchase, and the industry answered this concern with a “Float Week” offering. Simply a

floating week offerings means that the consumer is entitled to resort access rights within a

specified range of weeks within a calendar year or as specified within the contract.

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Three most common types of timeshares are,

Deeded Interests:

He or she has obtained legal ownership of the villa for a weekly interval that grants the owner

the right to use the property for the week specified in the deed. Within this deed type of

conveyance, the purchaser has the legal right to, (a) Use the real property,(b) Share the

property with family members, (c) Sell the real property.

Right to Use:

The individual has given contractual rights to use the timeshare facility for specified time. After

the expiration of the period the purchaser right of usage terminates unless he or she purchases

additional time.

Lease-hold Agreement:

The purchaser has the right to inhibit the timeshare unit for a specified period of time and at

the termination of the lease, the property reverts to the timeshare developer.

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3. Company Profile:

3.1 Company:

Corporate ID Club Mahindra Corporate

Company Name Mahindra Holidays & Resorts India Ltd.

C.E.O Rajiv Sawhney

C.F.O Aloke Ghosh

Type Public

Website www.clubmahindra.com

Mahindra Holidays & Resorts India Ltd., (MHRIL) is a part of the Leisure and Hospitality sector of

the Mahindra Group and brings to the industry values such as Reliability, Trust and Customer

Satisfaction. Started in 1996, the company’s flagship brand ‘Club Mahindra Holidays’, today has

a fast growing customer base of over 160,000 members and 40 beautiful resorts at some of the

most exotic locations in India and abroad. MHRIL includes the brands Club Mahindra Holidays,

Club Mahindra Travel, Club Mahindra Fundays, Mahindra Homestays and Zest. Club Mahindra

started with a single resort in Munnar in 2007. Presently, the company has 45 resorts in India

and abroad. In 2013, it was reported that the company is working towards acquiring and

building additional resorts all over the world. Club Mahindra is also a Resorts Condominium

International (RCI) affiliate. As of 2014, sixteen of the Club Mahindra resorts were bestowed

with the RCI "Gold Crown" rating. Club Mahindra is also affiliated with Dial an Exchange.

3.2 Parentage

Mahindra Holidays & Resorts India Limited is part of the USD 16.7 billion multinational

Mahindra Group. With over 180,000 employees in 100 countries across the globe, the Group is

also among India’s top ten Industrial Houses with interests in aerospace, aftermarket,

agribusiness, automotive, components, consulting services, defense, energy, farm equipment,

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finance and insurance, industrial equipment, information technology, leisure and hospitality,

logistics, real estate, retail, and two wheelers.

3.3 Domain Expertise

Over the last decade, MHRIL has established itself as a market leader in the family holiday

business. The company has followed a two pronged strategy – rapidly increasing its bouquet of

resorts to provide more variety in holidaying options and enhancing its service levels to its

members to provide delight at every point of interaction. All MHRIL resorts are totally geared to

cater to a variety of holiday needs and experiences in all areas of operation, from housekeeping

to food & beverage to holiday activities. Creating and managing the holiday experience is core

strength.

3.4 Mission

Good Living. Happy Families.

3.5 Vision

We will be among the Top 5 VO companies of the world in terms of member base by FY 2016.

3.6 Logo:

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4. Product Profile: The company has modified the concept of Timeshare holidays, and has brought a new concept

called “Vacation Ownership Program”.

Tenure of Membership: 25 years.

Entitled Weeks 25 weeks or total 175 Days.

No. of Resorts 45

Resorts in India 40

Resorts in Abroad 5

USP No fixed week or Destination.

One Up Exchange.

Advance booking from 4 months onwards.

Entitlement India and Abroad at same cost.

Inflation Free Holidays.

Online Booking Facility.

Automatic Accumulation of days.

No family size limit.

Seasons Blue (Off Season)

White (Autumn Season)

Red (Peak Season)

Purple (Festive Season).

Cottage Sizes Studio

1 BR

2BR

Tie UP Free membership of RCI for two years for more than 5000+

locations all over world.

Transferable Yes. (Sell, Rent, Gift).

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5. Literature Review: The top reasons for recommending timeshare were the advantages of the exchange system,

general resort satisfaction, the affordability of high-quality accommodations at an affordable

price, and the good value for money. The top reasons why the owners felt the sales

presentation was not effective were that the presentation was too aggressive and high

pressured, that the customers were not given correct information, and that the maintenance

fee was not stressed enough.

Researchers Richard Ragatz and John Crotts conducted two studies of U.S. RCI customers. One

study, conducted in 1998 (Ragatz & Crotts, 2000), was on timeshare owner attributes and the

second study (Crotts & Ragatz, 2002) was a comparison of recent timeshare owners (those who

had purchased timeshare in 1996 and 1997) and current owners (those who purchased

timeshare in 1995 or earlier). The top three reasons owners liked their timeshare was because

of the exchange opportunities, the ability to save money on future vacation costs, and because

they liked the quality accommodations and amenities of the resort and unit.

Researchers (Sparks et al., 2007) sought to find out which dimensions of customer value related

to the holiday experience in general and which value dimensions relate more expressly to

ownership for Australian timeshare owners. Using qualitative group interviews, the researchers

identified 12 dimensions of value that might be relevant to timeshare accommodations. These

dimensions were convenience, location, relaxation, social, fun and enjoyment, financial,

flexibility, gift, luxury, new experience, ownership pride, and reward. Their findings strongly

suggested that timeshare generates value for the customer in a multi-dimensional manner.

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6. Conceptual Framework:

Malls Market

s

Surveyors

Telemarketing

Walk in into Office

Sale

s p

rese

nta

tio

n a

nd

Inte

rvie

w

Yes

No

Easy Payment Options, Inflation

Free, Premium Facilities,

Affordable, Wide Choice of

Resorts, Brand Mahindra, and

International Holiday Options.

Cost not Affordable, Tenure,

Annual Fee, Better option for

Holiday, Advance Planning,

Feedback from friends and

families

Feedback Recorded

Stage 1

Stage 2

Stage 3

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7. Research Rationale: The previous timeshare studies have made an important contribution towards the growing

body of knowledge on timeshare, consumer behavior, and satisfaction variables. A key

shortcoming, however, remains. The previous studies just identified the factors those were

considered as preferable or not preferable after the purchase or before purchase .The previous

timeshare surveys were not conducted at the time of purchase but were conducted several

months or years later. The current study addresses this issue by surveying a large sample of 30

consumers at the time of their timeshare purchase to gain deeper insight into timeshare

purchase motivations and demotivation factors of consumers and to determine the most

attractive feature that influenced their purchase of a timeshare unit. The data was collected

over a 180 days period. Therefore, the main research question of the study was:

7.1 Statement of the Problem:

The research study was carried out to identify the most attractive and most undesirable feature

of the product, therefore also to determine the significance of the most attractive feature on

sales.

7.2 Research Questions:

1. What customers perceive as the most attractive factor of the product?

2. What customers perceive as the most undesirable factors of the product?

3. Is there any significance exists between the most attractive features of the product on

sales?

7.3 Research Hypothesis:

Ha: The most attractive feature of the product has significance on sales.

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8. Objective of the Study:

From the review of literature and the study conducted to explore the research gap, the broad

objective can be enumerated to analyze the factors effecting purchasing decisions of Time

Share resorts.

The Specific Objectives which has been branched out of this broad objective are as follows

1. To identify the most attractive feature of the product.

2. To identify the most Undesirable feature of the product.

3. To determine the significance of most attractive feature on sales.

9. Nature and Scope of the Study: This research work includes both the descriptive and conclusive research. A descriptive

research work has been carried out to identify the factors perceived as the important factors

for purchase decision making by the respondents of the Uttarakhand state. From the review of

literature the factors were identified and were surveyed through questionnaire and interview

process. The descriptive research was implemented to also to analyze the product features. The

features of the product were analyzed with the help of the primary data collected to assess the

most attractive and most undesirable feature of the product.

At last a conclusive research was carried out to justify whether the most attractive feature,

identified from the descriptive research, was strong enough to generate sales or not. This study

has recorded the responses of different people belongs to different income group, profession,

age and with different preferences. The study was done through the responses of people

belongs to different corner of a state Uttarakhand, and has a wide future scope of expansion by

doing a nationwide survey. The conclusion and the findings of the research work will be able to

generate some recommendations to the company to make its product more attractive and may

help to increase sales figure.

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10. Method of the Study:

10.1 Population:

Families were invited to the office of club Mahindra from different locations of the state

Uttarakhand.

10.2 Sampling Unit:

Married couples

10.3 Extent:

Uttarakhand State, India.

10.4 Period:

Nov 2013 - April 2014.

10.5 Sample Size:

30

10.6 Sampling Procedures:

10.6.1 Multistage sampling

Stage 1: Convenience/Accidental sampling from general population in Uttarakhand

Stage 2: Stratified sampling (Strata 1: People below an income level; Strata 2: People above

a income level of 2.4 lack per annum from a population of people sampled in Stage 1.

Stage 3: Purposive/Judgmental Sampling (Strata 2 chosen) from Stage 2

Stage 4: Convenience Sampling (walk-ins only) from people chosen in Stage 3.

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10.7 Research Instrument:

Two Structured questionnaire were used to record the information of the respondents and the

feedback after the sales presentation prepared by the Club Mahindra.

Interviews were conducted with each family for at least 45 minutes duration.

10.8 Research Methodology:

This report is based on primary as well as secondary data, however primary data collection was

given more importance. Part 1 for demographic study consisting of questions pertaining to the

respondent’s demographic profiles, such as age, gender, Designation, Organization, annual

income were asked.

10.9 Data Collection Technique:

10.9.1 Primary Data:

1. 10 surveyors were strategically positioned in different locations of Dehradun city to

collect the information about the income level and the car possessed by the families.

2. Collected data were filtered by a certain income level and a telecalling was done to

invite the families to the interview destination.

3. The families, who walked in, filled up the first questionnaire pertaining questions

regarding the demographic profile.

4. An interview was arranged with the families for at least 45 minutes.

5. After the interview feedback forms were get filled by the families.

10.9.2 Secondary Data:

The data published or unpublished, which have already been collected or processed by some

agencies for their statistical work are termed as secondary data. Secondary was collected over

the internet.

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10.10 Types of Research:

The purpose of the research can be classified as:

Conclusive.

The process of the research can be classified as:

Quantitative,

Qualitative.

The outcome of the research can be classified as:

Applied Research.

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11. Data Analysis and Design:

11.1 Demographic analysis of the respondents:

11.1.1 In terms of Age Group:

Age

Frequency Percent Valid Percent Cumulative Percent

Valid

"25-35" 11 36.7 36.7 36.7

"35-45" 16 53.3 53.3 90.0

"46-59" 1 3.3 3.3 93.3

">60" 2 6.7 6.7 100.0

Total 30 100.0 100.0

Interpretation:

From the above table it is clear that targeted respondents belongs the majority age group of 35

to 45 years. It also interprets that the middle-young age group are keenly interested about the

time share holiday concept.

37%

53%

3%

7%

Age

"25-35" "35-45" "46-59" ">60"

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11.1.2 In terms of Occupation:

Occupation


Valid

Govt 8 26.7 26.7 26.7

Private 7 23.3 23.3 50.0

Business 15 50.0 50.0 100.0

Total 30 100.0 100.0

Interpretation:

From the above table it is clear that the majority of the respondents belongs the Business Class

Category.

27%

23%

50%

Occupation

Govt Private Business

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11.1.3 In Terms of Income:

Income

Frequency Percent Valid Percent Cumulative

Percent

Valid

"<6" 14 46.7 46.7 46.7

"6-8" 4 13.3 13.3 60.0

"8-10" 4 13.3 13.3 73.3

"10-12" 6 20.0 20.0 93.3

">12" 2 6.7 6.7 100.0

Total 30 100.0 100.0

Interpretation:

From the above table it is clear that the majority of the people belong to the income group

having annual income lesser than 6 lacks per annum and the second majority group were

having the income 10-12 lacks per annum.

11.1.4 People Spent on holidays per year:

Spent on Holiday


Valid

<20000 19 63.3 63.3 63.3

>20000 9 30.0 30.0 93.3

>50000 2 6.7 6.7 100.0

Total 30 100.0 100.0

Interpretation:

The above table shows that the majority of the people spent less than 20,000 RS/ year. So it is

clear from the analysis, that doing holidays has not reached at the level of necessity in human

life.

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11.1.5 Percentage of purchased membership in terms of occupation:

11.1.6 Percentage of Purchased membership in terms of age:

Interpretation:

So, it is clear from the analysis that the people of age group of 35-45 are the majority buyers.

67%

11%

22%

Chart Title

Business Class Private Job Govt. Service

45%

44%

11%

Age Group Purchased Membership

Age 25-35 Age 35-45 Age 46-59

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11.2 Analysis of the most attractive feature of the Product:

A population of 30 families was surveyed to find out the most attractive feature of the product.

For analysis, 7 factors were identified and compared. Those features were Easy Payment

Options, Inflation Free, Premium Facilities, Affordable, Wide Choice of Resorts, Brand

Mahindra, and International Holiday Options. These factors were identified during from

literature review, past experience of the company and during the interview families.

Easy Payment Option


Valid

False 25 83.3 83.3 83.3

True 5 16.7 16.7 100.0

Total 30 100.0 100.0

Inflation Free


Valid

False 24 80.0 80.0 80.0

True 6 20.0 20.0 100.0

Total 30 100.0 100.0

Premium Facilities


Valid

False 13 43.3 43.3 43.3

True 17 56.7 56.7 100.0

Total 30 100.0 100.0

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Affordable


Valid

False 26 86.7 86.7 86.7

True 4 13.3 13.3 100.0

Total 30 100.0 100.0

Wide Choice of Resorts


Valid

False 15 50.0 50.0 50.0

True 15 50.0 50.0 100.0

Total 30 100.0 100.0

Brand Mahindra


Valid

False 19 63.3 63.3 63.3

True 11 36.7 36.7 100.0

Total 30 100.0 100.0

Like International Holiday Option


Valid

False 21 70.0 70.0 70.0

True 9 30.0 30.0 100.0

Total 30 100.0 100.0

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Interpretation:

It is clear from the tables that more than a half of the total population has selected the

Premium Facilities provided by Club Mahindra is the most attractive feature among the other

features. So it is clear form analysis that people seeks Premium facilities for spending their

holidays, so that they can spend a quality time with their family.

It also can be interpreted from the analysis that Providing an ample number choices of holiday

destinations makes the product very attractive and desirable. After the facilities Wide range of

resorts was the second most attractive feature of the product.

The analysis shows that 36% of people liked the product because of the Reputation that

Mahindra and Mahindra Group hold in the market. So Brand image has a great effect on the

product feature and therefore in the purchasing decision too.

11.3 Analysis of most undesirable feature of the Product:

To find out the most undesirable feature of the product 6 factors were analyzed. These factors

were identified during the interviews with the families and sales representatives have identified

as the excuses given by the customers during purchasing decision. Those factors were, Cost not

Affordable, Tenure, Annual Fee, Better option for Holiday, Advance Planning, Feedback from

friends and families.

Cost not Affordable


Valid

False 26 86.7 86.7 86.7

True 4 13.3 13.3 100.0

Total 30 100.0 100.0

Tenure


Valid

False 17 56.7 56.7 56.7

True 13 43.3 43.3 100.0

Total 30 100.0 100.0

24

Annual Fee


Valid

False 28 93.3 93.3 93.3

True 2 6.7 6.7 100.0

Total 30 100.0 100.0

Best option for Holiday


Valid

False 29 96.7 96.7 96.7

True 1 3.3 3.3 100.0

Total 30 100.0 100.0

Advance Planning


Valid

False 19 63.3 63.3 63.3

True 11 36.7 36.7 100.0

Total 30 100.0 100.0

Bad Feedback


Valid

False 29 96.7 96.7 96.7

True 1 3.3 3.3 100.0

Total 30 100.0 100.0

25

Interpretation:

From the above tables it can be interpreted that the Tenure of the membership which is 25

years, have been identified by the 43% of people as an undesirable feature of the product. In

addition to that, the lack of Advance Planning for doing holidays has proved itself as a hurdle in

purchasing decision of the customers.

As the previous study interpreted that holiday has not yet reached in the priority list of people’s

life style, people never plan in advance for doing holidays. So, while taking a purchasing

decision for such a Future Holiday system, people faces lack of decision making capability.

11.4 To analyze whether the most attractive factor has significance on sales:

H0: The most attractive feature of the product does not have any significance on sales.

Ha: The most attractive feature of the product has significance on sales.

11.4.1 Result of the correlation Test:

Easy Payment Option

Sold Like_Easy_Payment_

Option

Sold

Pearson Correlation 1 .293

Sig. (2-tailed) .116

N 30 30

Like_Easy_Payment_Option

Pearson Correlation .293 1


N 30 30

Inflation Free

Sold Like_Inflation_Free

Sold

Pearson Correlation 1 .400*


N 30 30

Like_Inflation_Free

Pearson Correlation .400* 1


N 30 30

*. Correlation is significant at the 0.05 level (2-tailed).

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Premium Facilities

Sold Like_Facilities

Sold

Pearson Correlation 1 .572**


N 30 30

Like_Facilities

Pearson Correlation .572** 1


N 30 30

**. Correlation is significant at the 0.01 level (2-tailed).

Affordable

Sold Like_Affordable

Sold



N 30 30

Like_Affordable



N 30 30

Wide Choice of Resorts

Sold Like_Choice_Resorts

Sold

Pearson Correlation 1 -.073


N 30 30

Like_Choice_Resorts

Pearson Correlation -.073 1


N 30 30

27

Brand Mahindra

Sold Like_BrandMahindra

Sold



N 30 30

Like_BrandMahindra



N 30 30

International Holiday Option

Sold Like_InternationalOption

Sold

Pearson Correlation 1 .524**


N 30 30

Like_InternationalOption

Pearson Correlation .524** 1


N 30 30

**. Correlation is significant at the 0.01 level (2-tailed).

Interpretation:

From the above correlation tests it is clear that most attractive feature which was the premium

facilities has the highest significance on sales, so the null hypothesis has to be rejected.

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11.4.2 Regression analysis:

Model Summary

Model R R Square Adjusted R

Square

Std. Error of the

Estimate

1 .775a .601 .474 .338

a. Predictors: (Constant), Like_InternationalOption, Like_Affordable,

Like_Easy_Payment_Option, Like_Choice_Resorts,

Like_BrandMahindra, Like_Inflation_Free, Like_Facilities

Coefficientsa

Model Unstandardized

Coefficients

Standardize

d

Coefficients

t Sig. Correlations

B Std. Error Beta Zero-

order

Partial Part

1

(Constant) .014 .112 .128 .899

Like_Easy_Payment_

Option .128 .177 .104 .721 .479 .293 .152 .097

Like_Inflation_Free .228 .167 .199 1.367 .185 .400 .280 .184

Like_Facilities .480 .159 .519 3.020 .006 .572 .541 .407

Like_Affordable .143 .186 .106 .770 .450 .171 .162 .104

Like_Choice_Resorts -.244 .137 -.267 -1.785 .088 -.073 -.356 -.240

Like_BrandMahindra -.131 .142 -.138 -.925 .365 .106 -.193 -.124

Like_InternationalOpti

on .327 .154 .327 2.116 .046 .524 .411 .285

a. Dependent Variable: Sold

Interpretation:

From the value of R2 it can be interpreted that the model is efficient enough to explain more

than half of the sales variation. From the table it can be noticed that there is no sharp drop in

the value from Zero-order to Part for the Premium Facility variable, which interprets that the

variable has the greatest effect on the model and therefore on sales.

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12. Findings & Suggestions:

Time share industry of India has to target the age group 35-45 to generate sales. This

age group has the aspirations for doing premium holidays and also has the monetary

strength to afford a luxury Holiday Instrument. The maximum members of times share

industry belongs to this age group.

The analysis also shows that Doing Holiday is still a luxury in Indian lifestyle and still far

away to get a place in normal lifestyle.

The players of the industry must promote the benefits of doing holiday and also make

some promotional activities to motivate people for holidays.

The analysis has revealed that the business class people of Uttarakhand state has more

interest in adopting timeshare concept of doing holidays than the other people who are

in govt. service and Private Sector Job.

After the analysis it could be identified that the Premium facilities offered by club

Mahindra is the most attractive feature of the product. The facilities and service quality

is the core feature of Club Mahindra Membership.

So, Club Mahindra should keep their focus in making more pleasurable experience by

providing better services and that in turn will also help Club Mahindra to attain the

competitive advantage.

From the study it can be identified that the Mahindra name carries a positive reputation

in the market and has a positive impact on purchase decision making.

This study also revealed that the Tenure of the membership 25 years is the most

undesirable feature of the product.

The company must focus on creating some new offerings where the rigidity of the

tenure of the membership can be avoided.

The lack of advance planning about doing holidays has a great negative impact on the

purchasing decision of the customer.

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From the nonparametric tests, it is clear that the most attractive feature, Premium

Facilities is a strong pull factor of sales conversion and this feature can be treated as the

core competency of the company.

The Indian time share industry must get out of the marketing Myopia. In India the

timeshare players promotes their destinations as holiday destinations, but Indian

families gives lesser priorities towards doing holidays. So they should promote their

resorts as lifestyle product and promote their membership as style icons.

13. Limitations of the Study:

Owing to time constrains, sample size is taken only 30 respondents. Thus a part of the research

study revolves around the responses collected from them and may not be representative of the

entire population pool. The research work has been carried out with the reference to one

company only; the features of the other company’s product were not analyzed. The survey was

limited to Uttarakhand state of India. The secondary data can be studied in a more extensive

way to identify more factors which plays an important role in purchase decision making of the

time share resorts. As the data was recorded just after the sales presentation and in the

presence of the sales representative the answers given by the respondents may be little biased.

14. Conclusion: The study concludes that the Time share industry must identify the customer needs at frequent

intervals, so that they can make their offerings more attractive. The time share concept of

doing holidays is in its growth stage of its PLC in India. That shows a huge untouched market

and vibrant future scope to the industry. To increase the market share, one must identify the

factors which play very important roles in purchasing decision, as in this intense competitive

market scenario where every player are struggling to get competitive advantage, customer

satisfaction is the only key to stay ahead in the competition. Club Mahindra has already made a

distinct position in time share industry and their quality of services and attractive offerings have

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made them the market leaders. The companies should customize their offerings according to

the customer needs to add new customers and ensure repurchase.

15. Bibliography:

Bansal H S and Voyer P A (2000), “Word-of-mouth Processes within a Services Purchase Decision

Context”, Journal of Services Research, No 3, pp 166-177.

Fornell C and Wernerfelt B (1987), “Defensive Marketing Strategy by Customer Compalint

Management: A Theoritical Analysis”, Journal of Marketing Research, Vol 24, pp 337-346.

Malhotra . K. Naresh & Dash Satyabhshan, 2012, Marketing Research, Pearson, 5th Edition.

ZeithmalValarie A, Bitner Mary Jo, Gremler Dwayne D and Pandit Ajay, Services Marketing, TMH, 5th

edition.

Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision

Processes, 50(2), 179-211.

ARDA (2005). The timeshare industry resource manual. Washington DC: American Resort

Development Association (ARDA).

Bruegger, R.M. (2001). Vacation ownership sales training: The one-on-one successful training guide

for the first year of timeshare sales. Lincoln, Nebraska: Writers Showcase.

15.1 Web Sources:

AIRDA - All India Resort Development Association, www.airda.org, accessed 29th January, 2014.

http://www.questia.com/library/journal/1G1-58521428/older-adults-as-a-distinct-timeshare-

market-in-australia, accessed 22nd February 2014.

"Evaluating point-of-sale buying decisions: Understanding why consumers" by Lisa Y. Thomas

digitalscholarship.unlv.edu, accessed 24th February, 2014.

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Learn all about how the Club Mahindra Membership Works www.clubmahindra.com, accessed 25th

February, 2104.

Club Mahindra Holidays - Wikipedia, the free encyclopedia en.wikipedia.org, accessed 25th February

2014.

Company Profile for Mahindra Holidays and Resorts India Ltd, in.reuters.com accessed 12th March

2014.

Timeshare pioneer Sterling Holiday Resorts is staging a comeback - Business Today,

businesstoday.intoday.in accessed 14th April, 2014.

India Timeshares - Rent, Sell or Buy Timeshare in India,www.sellmytimesharenow.com, accessed

15th April

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16. Annexures

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Documents

Project Report of Chirantan Sen