Market Project

Marketing Strategies & Consumer Satisfaction of HERO Motors
MARKET MEANING:
The term market has its origin the Latin noun Marcatus meaning a place where business is conducted. According to the layman a market means a convenient meeting place for buyers and sellers to gather together in order to conduct buying and selling activities, but a market does not literally have to be a place of exchange, but in broader sense it means an atmosphere or a region or a supra system in which the forces of demand and supply operate directly and indirectly to bring about transfer in the titles of goods and services. Or in other words market is an arrangement that provides opportunity of exchanging goods and services for money or moneys worth.
DEFINITIONS OF MARKET
According to Prof. H.E. Mitchell it must be thought of not as a geographical meeting place but as any getting together of buyers and sellers in person, by mail, telephone, and telegraph or any other means of communication. According to Prof. Philip Kotler an area or atmosphere for potential exchange. Therefore from the above two definitions it is clear that market is the whole of any region where the buyers and sellers are in such free intercourse with one and another that a single price prevails for a certain commodity at a certain point of time.
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Marketing Communication
Body of Sellers
Market
Body of Buyers
Feed back information
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MARKETING:
Marketing is the set of those activities necessary and incidental to bring about exchange relationships. It encompasses the entire economic process by means of which goods and services are exchanged and their values are determined in monetary units. It is that phase of business activity through which human wants are satisfied by exchange of goods and services.
DEFINITION:
Prof. William Stanton in his book Fundamentals of Marketing defines Marketing as the total systems of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to present and potential customers. According to American Marketing Association It is the performance of business activity that directs the flow of goods and services from the producer to the consumer.
CONCLUSION:
Thus marketing is the process of exchange involving two distinct aspects namely 1. Mental Aspects 2. Physical Aspects
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THE
COMPONENTS
OF
MARKETING
CONSUMER
ORIENTED MARKETING.
Marketing is the managerial function responsible for identifying anticipating and satisfying customer requirements profitably. It is multi-
disciplinary subject having far reaching impact with its deep-rooted tentacles. The best way to gauge its scope is to know the components of it. The components of marketing are four, namely, the offer, the market, the system and the forces. Following is the brief elucidation of these points. 1. The offer: An offer is the outcome of marketing activities of the firm offer is the proposal, which may or may not be accepted by the buyer as offer is from seller. It is an offer that people and institutional buyers make. It is worth pinpointing here that a purchaser does not accept a product; what he really accepts is an offer that includes every facet that is likely to encourage or discourage his purchase. Thus, offer includes product or service and allied conditions of offer. Precisely, it includes what when who and why and through whom of the purchase
2. The market: As noted earlier, market is the aggregate of forces or conditions within which buyers and sellers make decisions that result in the transfer of goods and services. In other words, it is the aggregate demand of the potential buyers for a commodity or service. It is people with money and inclination to buy. It is a place where the exchange process occurs. Though market can be thought in aggregate, it can be a
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3. Segment of the total market. Thus, a manufacturer for small car cannot think of capturing the aggregate market but a part of it as he is not alone in the market. That is why; market is equal to the group of buyers and sellers within a geographical area for a product or close substitute at a particular stage in the trade channel. 1. The System: Marketing is concerned with the flow of goods and
services from the points of production to the points of consumptions. There is a systematic arrangement of these functions of marketing to move the goods and services to the needy persons. This system or arrangement for physical movement of products of the house must be selected or developed. Good many alternatives are open to the manufacturers; the options available are such that they can be combined to the individual needs of the manufacturers. Selection of a channel or the combination of channels is dependent upon the nature of the product, the nature of the market segment to be approach and the nature and the among of me efforts needed for effective marketing. Thus, each firm producing goods will have to adopt some marketing philosophy. Such a system is essential to the creation of time, place and possession utilities.
2. The Forces: The final component of marketing is to do with

environment in which marketing takes place. It is taken as the final component because; environmental forces influence the nature and character of the offer, market and the system. Environmental .
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Forces contribute to every fact of change and adjustment in a marketing network. The influences are profound and need to be perceived with all the sagacity to understand the opportunities and counteract the associated challenges and threats.
The Ten Rules of Radical Marketing

In their book Radical Marketing, Sam Hill and Glenn Rifkin layout a set of prescriptive guidelines that can be help other companies emulate the radical marketers. 1. The CEO must own the marketing function. CEOs of radical marketers never delegate marketing responsibility; they typically act like de facto chief marketing officers. 2. Make sure the marketing department starts small and flat and stays small and flat. In order to stay involved with marketing, CEOs must not allow layers of management to grow so numerous that they distance them from the market. 3. Get face-to-face with the people who matter most- the customers. For radical marketers, face-to-face is a mantra. They know the advantages of direct interaction with customers. 4. Use market research cautiously. Market research typically tells a marketer what the average customer wants. Radical marketers prefer grassroots techniques. 5. Hire only passionate missionaries. marketers, they have missionaries. Radical marketers dont have
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6. Love and respect your customers. Radical marketers respect customers as individuals, not as numbers on a spreadsheet, they recognize that the core customers are responsible for the bulk of their companys successes. 7. Create a community of consumers. Radical marketers encourage their customers to think of themselves as 3 communities and of the brand as a unifier of that community. 8. Rethink the marketing mix. Radical marketers marketing techniques
often differ dramatically from those used by traditional marketers. For example, traditional marketers seek to reach broad audiences via largescale advertising, while radical marketers use surgical strike advertising characterized by short, targeted ad campaigns. 9. Celebrate common sense. Smaller companies with limited resources
cannot hope to compete with larger competitors without fresh and different marketing ideas. So radical marketers, for example, limit distribution in order to create loyalty and commitment among their distributors and among their customers. 10. Be true to the brand. Radical marketers are obsessive about brand integrity, and they are fixated on quality
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MARKETING STRATEGY
A strategy is what you are going to do; a marketing strategy is the link between a product and the market; it provides the much-desired direction for allocating the marketing effort. It is translated into an action plan through the tools of marketing management. These tools together are called as marketing mix. Individually, they are Product-Price-Promotion and Place. The credit of introducing this concept of marketing mix goes to Professor N.H.Borden of Harvard Business School of America. In these words it refers to two things; (a) a list of important elements or ingredients that make up this marketing programme and (b) the list of forces having bearing on the marketing operation. According to Professors Keeley and Lazor, marketing mix is composed of a large battery of devices which might be employed to induce consumers to buy a particular product. In other words, marketing mix is the blend or the compound of all the marketing efforts houring round the four ingredients namely product, price, promotion, and place. These ingredients are interrelated and all revolve
round, potential consumer satisfaction as the focal point. It is the complex of mixes relating to inputs and resources utilized in marketing programme to attain the business objectives such as profit-return on capital employed-sales volume-market share and so on. Marketing mix for a particular product or services is created by blending controllable marketing factors into an integrated programme for a particular period of time in order to secure the
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goals preset through consumer satisfaction. In essence, marketing mix is the set of controllable variables that the firm can use to influence the buyers response.
The Elements of Marketing Mix

The mix is made up of four elements namely product, price, promotion and place.
The Product mix up of variables like-product-line and product

range, the product design, the product package, the product quality, the product labeling, the product branding and after-sales service and guarantees.
The Price mix is made up of pricing policies and strategies, the

terms of credit, the terms of delivery, margins and the resale price maintenance.
The Promotion mix is made up of variables like personal selling,

advertising, sales-promotion, trade fairs and exhibitions and public relations.
The Place mix is made up a variable like transportation, warehousing

inventory levels, and the channels of distribution.
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Importance of Marketing:
The important of marketing in the modern world can be studied under two distinct heads, viz: 1. Benefits of marketing 2. Cost of marketing
Benefits of marketing to both society and to individuals business firm. Importance of marketing to the society a. Marketing helps to achieve, maintain and raise the standard of
living of the society. Better marketing gives room for mass production cost will low and hence price of the article will be low. Since price is low people, this will result in a higher standard of living.
b. Marketing increases employment opportunities. I.

Marketing helps to increase National Income. The national income is compassed of goods and service which money can buy it purchasing power increase.
II. III. IV.
Marketing helps to maintain economic stability and economic development. Marketing importance is for any help and economic development. Marketing is a connecting link between the consumer and producer. Marketing process brings new items to retail shops from where the consumer can have them.
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V.
Marketing removes the imbalances of supply by transferring the surplus to deficit, areas, through better transport facilities.
c. Marketing helps in creation of utilities Importance of marketing to individual business firm:

Marketing generates revenue to firms: profit is the core on which the whole super structure of business in builds. Marketing alone generates revenue or income to an enterprise; functions of marketing develop and widen the markets. When markets are widened sales increases and thus profit to the firm increases. Marketing acts as a basic for marketing decisions. Marketing helps the top management to manage innovations and changes. COST OF MARKETING: Marketing is blamed because of its high cost. Now a day it has
attracted the attention of different sections of the society like government, producer and education institutions. Marketing cost is stated to be high. But it is almost impossible to estimate accurately the over all cost of marketing functions and service. How ever many marketing experts have tried to
calculate the marketing cost and have food that marketing cost account for about 50% of the price paid by consumers. The study of Marketing of Wheat, rice and cotton in India. Indicated that 50% to 60% of the total cost accounted for the marketing cost.
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Approaches to the study of marketing

Four basic approach are commodity used to describe the marketing system: Commodity Approach. Functional Approach. Institutional Approach.
Systems Approach. Commodity Approach:

Under the commodity approach, use study the flow of a certain commodity and its journey form the original producer right up to the final customer. In such a study one locates the center of production, people Mode of transportation
engaged in buying and selling of the product.
problems of selling and advertising the product problems of financing it. Problems arising out of its storage and so on, through such an approach. We can find out the difference in marketing products services and problems. Thus we can have a fuller picture of the field of marketing. Marketing of
agricultural products such as cotton. Wheat, jute represents the commodity approach.
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Functional Approach:
Under the functional approach, we concentrate our attention on the specialize service or functions or activities per formed by marketers. The study of marketing functions (buying selling) represents the functional approach to the marketing system.
Institutional Approach:
Under the institutional approach, our main interest centers round the marketing institutions or agencies such as wholesales, retailer, and banks etc. Who participate in discharging their marketing responsibilities during the movement of distribution of goods, we try to find out how these various business institutions and agencies work together to form a total marketing system.
The System Approach:

A system is a set of interacting or interdependent components or groups co-ordinates to form a unities whole and organized marketing activities to accomplish a set of objectives. In the model of system approach we have. Objectives. Input. Processor. Outputs. Feed back.
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The objectives direc5t the process, control monitors the process, control monitors the process, information feedback gives information from internal and external sources and it is the basic for future change in the system. An open system has its own environment giving the inputs and accepting the output. Inputs are processed, producing outputs to meet the objectives; the twin objectives of marketing system are customer satisfaction and profitability.
MARKETING FUNCTIONS
It is a part of marketing process, the following chart describing the classification of marketing functions. Classification of marketing functions
A Ownership Transfer 1. Concentration Buying/ Assembling. 2. Distribution/selling
B Facilitating Distribution
C Involving Physical in (A+B)
1. Transport. 2. Storage.
1. Standardization & grading. 2. Branding. 3. Packing 4. Salesmanship 5.advertising 6. Sales promotion 7. Insurance risk 8. Marketing intelligence
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Marketing functions are the activities of buying.
Selling, transportation,
storage, standardization and grading, financing. Risk bearing and circulating market information. Such a list of marketing functions is more suitable to physical products. Marketing functions are usually depend on type of
product/service, for example if we look at expanding the concept of product which includes services also, marketing functions may be listed as follows; 1. Contractual : The searching of buyers and sellers
2. Merchandising : Marching the product to customer needs and desire [market requirement] 3. Pricing 4. Promotion : Determining the optimum price : Persuading the buyers to favor the firm and Its products. 5. Physical : The transport, ware housing [storage], distribution inventory control. Marketing functions are performed by the manufactures and all middlemen in the machinery of distribution.
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A. Selling
Selling is one of function of the equation of exchange. Selling creates demand for a product. Selling functions involves: Product planning and development Locating or finding out potential buyer Negotiation process of terms such as price, quantity, quality, etc for settlement. Sales contract leading to retransfer of title of ownership and possession of goods.
B. Buying
Purchasing Planning Search of sellers Selection of seller goods Assembling of goods in Right quantity & Quality Enter into a Purchase Contract Negotiation of terms of purchase At a right place, time, price
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Buying is the second function of the equation of exchange. It requires planning of purchases, intelligent starch for probable sellers, selection of goods to be sold assembling of goods in right quantity and quality, at right place at right time at right price. In a formal exchange, buyer has to negotiate terms of purchase and enter into a contract of purchase. C. Standardization and grading: Standardization means seeing standards for quality. Grading
means separating or inspecting products- according to established standards. Each grade has uniformity in all tributes. Grading enhancemarketing efficiency. For example in agricultural marketing. Standardization makes sales by the description possible assumes quantity. It promotes uniformity of products. D. Financing: Finance is the life-blood of commerce. We have monetary
exchange. Value of goods is expressed in money and it is denoted by price to be paid by a buyer to a seller, credit is necessary in marketing. It plays an important role in retail trade-particularly in the sale of costly consumer goods.
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E. Marketing Information: All marketing decision is no better than the facts and figures upon which they are based. Information low is a vital resource in business. Information has to be collected, processed and interpreted. In todays business activities decisions are based on facts and figure [i.e., information]
RESEARCH DESIGN
Among various strategies followed by companies, marketing strategy plays a vital role in providing the product according to the customers expectations. Our study is with reference to marketing strategy of Hero Motors with respect to Ratna Motors & its effectiveness through customer satisfaction.
Title of the Study:MARKETING STRATEGY & CUSTOMER SATISFACTION towards Hero Motors Bikes with reference to Ratna Motors.
STATEMENT OF PROBLEM Customer satisfaction is one of the important aspects to be considered in making decisions of Marketing Mix. Customer satisfaction is the basis or foundation for building better marketing strategy. This study is made to find out why customers prefer Hero Motors Bikes whether it is style, comfort,
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mileage, color, service, speed & pickup & other attributes & analyze their satisfaction level towards these product attributes.
The Objective of the Study

The main objective of the study is are as follows 1. To analyze the effectiveness of Marketing Strategy adopted by Hero Motors Company. 2. To understand customer level satisfaction with regard to Hero Motors Bikes in
Visakhapatnam City.
3. To analyze expectations of customers with regard to various attributes of bikes. 4. To measure till what Hero Motors Bikes are meeting the expectations of customers. 5. To know how Hero Motors Company has acquired the market & created good image in the minds of customers.
Scope of the Study

Hero Motors Company is satisfying customers demand. To study those aspects which improve the companys dealer service as
both in sales process & after sales service.

To know the customer expectations restricted within Visakhapatnam. The study is limited only towards the attributes like price, style, mileage,
speed & pickup, after sales service.
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METHODOLOGY
Data for the study was collected by personal interview of the Hero Motors (SATYANARAYANA) Managing Partner SURESH (SALES MANAGER) with respect to marketing strategy adopted questionnaire was also supportive in collecting information from customers & prospective customers of Hero Motors Bikes.
The response collected with analyzed, tabulated & formatted using simple statistical & mathematical methods, tools & techniques. Tabulation & Graphical Representation are used for interpretations.
Limitations of Study 1). 2). 3). 4). 5). The study was computed only limited number of respondents. The study is limited only to Visakhapatnam. The study is only with regard to the opinion of Hero Motors Company. The study does not cover customer satisfaction of competitors bike. Finding of the study are based on the assumption that the respondents gave the correct information. 6). This study is conducted in a short duration of one month.
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Overview of the Chapters
Chapter
One
INTRODUCTION This chapter contains various definition, meaning, theories, aspects in depth, knowledge of marketing & its various sub divisions. It also clearly defines The various marketing strategies adopted by various companies in order to Remain at the top position of their respective industry.
II
Chapter Two
HERO MOTORS COMPANY PROFILE This chapter contains details of the Hero Motors Company from the time it was launched up to the present scenario where it is regarded as the No. 1 Company in the automobile industry. It also contains as to how the company has grown from a small unit to a large scale organization.
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III
Chapter Three
RESEARCH DESIGN This chapter contains the reason for selecting as the topic for my project the method of collecting the data, sample size for conducting market research with the employees, how was the data been collected; the people from whom the data was collected.
IV
Chapter Four
ANALYSIS & INTERPRETATION In this chapter a diagrammatic representation of data been collected & has been represented in the form of graphs. The interpretation shows the explanation of the graph and the table.
Chapter Five
SUMMARY AND FINDINGS It contains few valuable SUMMARY AND FINDINGS based on the project.
VI
Chapter Six
SUGGESTIONS AND CONCLUSIONS
It contains a brief explanations of the project & s few points of the company & their prospects.
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VI
Chapter Seven
BIBLIOGRAPHY It contains the names of the various books been referred to & also the names of the various websites for collecting various data.
ANNEXURE It contains the various questions been asked to the employees of the Hero Motors Company. The questions have different options to which the employees can Choose their option.
CONCEPTUAL DEFINITIONS Fundamentals of Marketing It refers to the basic & most fundamental aspects of Marketing i.e., promotion, sales & advertisement & after sales service
ADVERTISING:Any paid from of non-personal presentation & promotion of ideas, goods or services by an identified sponsor.
Defining Advertising Goals for Measured Advertising Results

Product Line:It is a group of products that are in some way related by being alternating to fulfilling the sane customers need, be being marketed to the same target
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markets through the same distribution network or be being in common price category.
Consumer Behavior:All psychological, social & physical behavior of all potential consumers as they become aware to evaluate, purchase, consume & tell others about the particular product & service.
Sales Forecast:An estimate of sales during some specific future, period of time & under a pre-determined marketing plan in the firm.
COMPANY PROFILE
The Legend of Hero Motors
What started out as a Joint Venture between Hero Group, the worlds largest bicycle manufacturers and the Honda Company of Japan, has today become the Worlds single largest two-wheeler Company. Coming into existence as a, Hero Motors Limited 0on aug 2010, gave India nothing less than a revolution on two-wheels made even more famous by the Fill it Shit it Forget it campaign. Driven by the trust of over 5 million customers, the Hero Motors product range today commands a market share of 48% making it a veritable giant in the industry. Add to that technological excellence, an expansive
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dealer network, and reliable after sales service, and you have one of the most customer-friendly companies. Now it turned into Hero Motors. This is proved by the companys sales over the years: 2010 it turned into Hero Motors it sales thousands of different bikes. Customer satisfaction, a high quality product, the strength of Honda Technology and the Hero groups dynamism have helped HML scale new frontiers and exceed limits. Managing Director, says We will continue to make every effort required for the development of the motorcycle industry, through new product development, technological innovation, investment in equipment and facilities and through efficient management.
Business Description
Hero Motors Limited. The Companys principal activity is to Manufacture and market motorcycles and spare parts. The Company is a joint venture between Hero Group, India and Honda Motors Company of Japan. The motorcycle features include four stroke technology, phenomenal fuel economy and low exhaust pollution levels. The major brands of the Company include Splendor, CBZ and Passion. The Company has two manufacturing facilities located at Dharuhera and Gurgaon in Haryana.
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Project Objective: To establish a system that is transparent, efficient and responsive to markets when managing supplier functions. Benefits Accrued: Automatic delivery schedules, Advanced Shipping Notification, automatic updating of Global Recycling Network, better forecast purchasing behavior and shorten procurement cycles.
Innovation: Implementation of My SAP SRM version 3.0 in a mere 3 months Hero Motors Limited (HML) was among the first in India to setup the My SAP SRM version 3.0. It became the ramp-up site for SAP and was recognized for the speed and quality of the implementation.
The implementation started with a business need to become transparent, efficient and responsive to markets when managing supplier functions and ended up with a Computer Associates Intelligent Enterprise Award in the manufacturing vertical category.
Techies at Work
Considering that the automotive sector depends on suppliers providing raw material S R Balasubramaniam, CIO, HML and his team isolated an SRM solution to coordinate business processes with key suppliers, make them more effective. And therefore optimized their procurement strategy, to work more
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effectively with the vendor pool, and thus to gain long-term benefits from all vendor relationships.
At the outset
The planning and identification of the appropriate application itself took] three months. Queries went back and forth between the companys research partners, Gartner. Finally decided to deploy Logis i2 and My SAP SRM.
Given that HML had just adopted SAP R/3 and migrated their data to SAP it decided not to enter in contract with a new vendor. Balasubramaniam thus adopted My SAP SRM.
Pioneers
The company became the one of the first companies in India to implement the My SAP SRM version 3.0. The implementation took merely three months despite the changes in the framework that were required for the exchange infrastructure.
There was an equal give and take with vendor, as HML consented to be a ramp-up site for the software. This meant that the company would be a test site for the package, in return for better vendor support. It was a risk, but it worked for Balasubramaniam, because a successful implementation means a strategic advantage to establish an edge over the competitors.
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The people implementing it were not too sure because they were doing it for the first time. In a few cases there were configuration problems between SRM and R/3, but we got special attention. There were times when we posted a query at night and got the solution by the next morning, said Balasubramaniam.
Logical Partitioning
LPAR is a system architecture approach. It allows the division of a single server into several completely independent virtual servers or partitions. In HMLs setup LPAR reduces IT infrastructure cost and improves workload capacity by means of: Reduced systems management requirements. Reduced use of floor space or rack space. Reduced power consumption. Reduced equipment service and maintenance costs. Improved business operation flexibility by providing mixed testing and production environments. Hero Motors Splendor+, the brand credited with several firsts to its credit, is close to adding yet another feather in its cap-the 5 million sales landmark. As part of the celebration, the company has announced a Rs.1001/- celebration offer on the family of Splendor, Splendor + and Passion Plus. The offer, which is currently on, across all Hero Motors authorized dealerships also provides an opportunity
Hero Motors Passport Programmed arguably, the largest Customer Relationship Programmed in the country, is set to introduce two unique Initiatives for its members a First Transaction Reward for all members transacting at authorized outlets for the first time; and a Bike Service Certificate to help members get a better resale value for their motorcycles. Both these benefits further add to the Passport Programmers single -minded objective of strengthening the companys relationship with its customers, by offering them enhanced value proactively & consistently. Auditions for the adventure-based reality show MTV Hero Motors Roadies II have started. The program will soon be aired on MTV. Hero Motors also is promoting Indias Best on Zee TV
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INTERPREATION & ANALYSIS
Table showing Classification of respondents based on their gender:
Gender
No of respondents
Percentage changes
Male Female Total
42 08 50
84% 16% 100%
INTERPRETATION:
The above table shows out of 50 respondents; 84% of respondents are male and rest of 16% respondents are female.
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INFERENCE: Majority of Hero Motors bike users are male
Graph showing Classification of respondents based on their gender
Graph showing classification of respondents based on Genders
100% 80% 60% 40% 20% 0%
84%
Percentage
16%
Percentage changes
Male
Female
Genders
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Table showing Classification of respondents based on their age.
Age Below 18 18-25 26-35 36-45 46 and above Total
No of respondents 02 21 20 03 04 50
Percentage changes 04% 42% 40% 06% 08% 100%
INTERPRETATION:
The above table shows that 4% of respondents fall under the age group of below 18; 42% of respondents fall under the age group 18-25; 40% of respondents fall under the age group 26-35; 6% of respondents fall under age group 36-45; and rest i.e. 8% of respondents fall under the age group 46 and above category
INFERENCE:
Majority of respondents fall under the age group 18-25
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Graph showing Classification of respondents based on their age
Graph showing Classification of respondents based on their age
6%
8%
4%
Below 18 18-25 26-35 36-45 46 and above
42% 40%
Table showing classification of respondents based on their occupation.
Occupation Private job Govt job
No of respondents 14 06
Percentage changes 28% 12%
Business/self employed Profession Students Total
05 09 16 50
10% 18% 32% 100%
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INTERPRETATION: The above statistical table shows that 28% of respondents fall under the category private job; and 12% fall under the category government job; 10% fall under the category business/self-employed; 18% of respondents fall under profession and rest of respondents i.e. 32% fall under the category students.
INFERENCE:
Majority of respondents fall under the category private job; Graph showing classification of respondents based on their occupation.
Graph showing classification of respondents based on their occupation.
32%
28%
12% 18% 10%
Private job
Govt job
Business/self employed
Profession
Students
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Table showing classification of respondents based on their monthly income Particulars Less than 5000 5000-10000 10000-15000 15000 and above Nil Total No of respondents 07 07 13 10 13 50 Percentage changes 14% 14% 26% 20% 26% 100%
INTERPRETATION:
The above statistical data shows that 14% of respondents fall under the income level of less than 5000; 14% of respondents fall under the income level 5000-10000; 26% of the respondent fall under the income level 1000015000; 20% of the respondent fall under the income level 15000 and above and rest i.e. 26% fall under the income level nil.
INFERENCE: Majority of the respondent fall under the income level 10000-15000; Graph showing classification of respondents based on their monthly income
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Graph showing classification of respondents based on their monthly income 30% 25% 20% 15% 10% 5% 0%
26% 20% 14% 14%
26%
Percentage
Less than 5000
500010000
1000015000
15000 and above
Nil
Percentage changes
Table showing classification of respondents based on their qualification
Particulars S.S.L.C P.U.C U.G P.G TOTAL
No of respondents 06 12 21 11 50
Percentage changes 12% 24% 42% 22% 100%
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INTERPRETATION:
The above statistical data shows that 12% of respondents fall under the qualification level SSLC; 24% fall under the qualification level PUC; 42% fall under qualification level UG; and rest i.e. 22% fall under qualification level PG.
INFERENCE:
Majority of bike users fall under qualification level UG; i.e. under graduates
Graph showing classification of respondents based on their qualification
Graph showing classification of respondents based on their qualification 50% 40% 30% 20% PYDAH PG COLLEGES 10%
Pe rce ntage
42% 24% 12%

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22%
Table showing classification of respondents based on the influence on their purchase decisions
Particulars Family and friends Dealers Colleagues Advertisements Others Total
Percentage changes 40% 06% 14% 40% 0 100%
INTERPRETATION:
The above statistical data shows that how respondents came to know about Hero Motors bikes. 40% of respondents came to know by family and friends; 6% of respondents came to know by dealers; 14% of respondents came to know by colleagues; 40% of respondents came to know by advertisements.
INFERENCE: Majority of respondents came to know Hero Motors by family and friends and advertisements
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Graph showing classification of respondents based on the influence on their purchase decisions
Graph showing classification of respondents based on the influence on their purchase decisions
40% 35% 30% 25%
Percentage 20%
15% 10% 5% 0% Family and friends Dealers Colleagues AdvertisementsOthers
Influence
Percentage changes
Table showing classification of respondents based on their criteria for selecting bikes
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INTERPRETATION: The above statistical data shows that important criteria used by respondents in selecting bikes; 14% of respondents use style criteria in selecting bikes; 40% Particulars Style Mileage Speed and pickup Price Others Total No of respondents 07 20 15 08 0 50 Percentage changes 14% 40% 30% 16% 00 100%
of respondents use mileage criteria; 30% respondents use speed and pickup criteria and rest of respondents i.e. 16% respondents price criteria.
INFERENCE:
Majority of respondents use mileage criteria for selecting Hero Motors bikes
Graph showing classification of respondents based on their criteria for selecting bikes
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Graph showing classification of respondents based on their criteria for selecting bikes
50% 40% 30% 20% 10% 0%
Percentage
40% 30% 14%

Style Mileage Speed and pickup
16% 0
Price Others
Criteria
Percentage changes
Table showing classification of respondents based on their reason for selecting bikes
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INTERPRETATION:
The above statistical data shows the main reason of respondents in choosing Hero Motors bikes; 18% of respondents use style for choosing Hero Motors Particulars Style Mileage Speed and pickup Price Others Total No of respondents 09 18 10 10 03 50 Percentage changes 18% 36% 20% 20% 06% 100%
bikes; 36% of respondents use mileage; 20% of respondents use speed and pickup; 10% of respondents use price and rest i.e. 6% use other reasons.
INFERENCE: Majority of respondents use mileage as main reason in choosing Hero Motors bikes
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Graph showing classification of respondents based on their reason for selecting bikes
Graph showing classification of respondents based on their reason for selecting bikes
40% 35% 30%

Percentage
36%
25% 20% 15% 10% 5% 0% Style Mileage Speed and pickup Reason Percentage changes Price Others 6% 18% 20% 20%
Table showing classification of respondents based on their opinion towards the price of Hero Motors bikes
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INTERPRETATION:
The above statistical table shows the opinion of respondents towards the price Particulars Low Moderate High Higher Total No of respondents 03 40 05 02 50 Percentage changes 06% 80% 10% 04% 100%
of the bikes; 6% of respondents think it is low; 80% of respondents think it is moderate; 10% of respondents think it is high and rest i.e. 4% think it is higher.
INFERENCE:
Majority of respondents think that the prices of Hero Motors is moderate
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Graph showing classification of respondents based on their opinion towards the price of Hero Motors bikes
90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
80%
Percentage changes
6% Low Moderate
10% High
4% Higher
Table showing classification of respondents based on their opinion towards style of bikes
Particulars Excellent Very good Satisfactory Un Satisfactory Total
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INTERPRETATION:
The above statistical table shows the opinion of respondents towards the style of Hero Motors bikes. 10% of respondents think it is excellent; 36% of respondents thinks it is very good; 48% of respondents thinks it is satisfactory and rest 6% think it is unsatisfactory.
INFERENCE:
Majority of respondents think that the style of Hero Motors is satisfactory
Graph showing classification of respondents based on their opinion towards style of bikes
Graph showing classification of respondents based on their opinion towards style of bikes
6% 10% 48% 36%
Excellent Very good Satisfactory Un Satisfactory
Table showing classification of respondents based on their opinion towards mileage of bikes
INTERPRETATION:
The above table shows the opinion of respondents towards mileage of Hero Motors bikes. 10% of respondents think it is excellent; 36% thinks it is very good; 48% thinks it is satisfactory and rest 06% thinks it is unsatisfactory.
INFERENCE:
Majority of respondents think that the mileage of Hero Motors bikes is satisfactory
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Graph showing classification of respondents based on their opinion towards mileage of bikes
Graph showing classification of respondents based on their opinion towards mileage of bikes
6%
10%
Excellent Very good
48%
36%
Satisfactory Un Satisfactory
Table showing classification of respondents based on their opinion towards speed/pickup of bikes
Particulars
No of respondents
Percentage changes
Excellent Very good Satisfactory Un Satisfactory Total
09 18 18 05 50
18% 36% 36% 10% 100%
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INTERPRETATION:
The above statistical table shows the opinion of respondents towards the speed pickup of Hero Motors bikes. 18% of respondents think it is excellent; 36% of respondents think it is very good; 36% of respondents think it is satisfactory and rest 10% of respondent think it is unsatisfactory.
INFERENCE: Majority of respondents think that the speed of Hero Motors bikes is satisfactory
Graph showing classification of respondents based on their opinion towards speed/pickup of bikes
Graph showing classification of respondents based on their opinion towards speed/pickup of bikes 36%
18% Excellent Very good Satisfactory 10% 36% Un Satisfactory
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Table showing classification of respondents based on their opinion towards color of bikes
INTERPRETATION:
The above statistical table shows the opinion of respondents towards the color of Hero Motors bikes; 14% of respondents think it is excellent; 32% of respondents think it is very good; 40% of respondents think it is satisfactory; and rest i.e. 14% of respondents think it is unsatisfactory.
INFERENCE:
Majority of respondents think that the color of Hero Motors bikes is satisfactory
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Graph showing classification of respondents based on their opinion towards color of bikes
Graph showing classification of respondents based on their opinion towards color of bikes
Percentage
50% 40% 30% 20% 10% 0%

nt le Ex ce l
32% 14%
40% 14%
tis fa ct Un or y Sa tis fa ct or y
Ve
ry
go
Sa
od
Percentage changes
Table showing classification of respondents based on their opinion towards availability of spare parts of bikes
Particulars Very easy Easy Not easy Not available at all Total
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INTERPRETATION:
The above statistical table shows the opinion of respondents towards the availability of spare parts of Hero Motors bikes. 22% of respondents think it is very easy; 70% of respondents think it is easy; 4% of respondents think it is not easy; and rest i.e. 4% of respondents think it is not available at all.
INFERENCE: Majority of respondents think tat the availability of Hero Motors spare parts is easy Graph showing classification of respondents based on their opinion towards availability of spare parts of bikes
Graph showing classification of respondents based on their opinion towards availability of spare parts of bikes
Percentage changes 80% 70% 60% 50% 40% 30% 20% 10% 0%
Percentage
70% 22%
Very easy Easy
4%
Not easy
4%
Not available at all
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Table showing classification of respondents based on their opinion towards services of Hero Motors bikes
Particulars Authorized dealers Local garage Authorized service Others Total
Percentage changes 54% 18% 28% 00 100%
INTERPRETATION:
The above statistical table shows the opinion of respondents towards the service of their bikes; 54% of respondent service their bike with Authorized dealer; 18% of respondents with local garage; 28% of respondents service with the Authorized service center.
INFERENCE:
Majority of respondents service their bike with Authorized dealer.
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Graph showing classification of respondents based on their opinion towards services of Hero Motors bikes
Graph showing classification of respondents based on their opinion towards services of hero Honda bikes
0% 28% Authorized dealers Local garage 54% 18% Authorized service Others
Table showing classification of respondents based on their opinion towards after sale services of Hero Motors bikes

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INTERPRETATION:
The above statistical table shows the opinion of respondents towards the after sale service of Hero Motors bikes. 10% of respondents think it is excellent; 36% of respondents think it is very good; 40% of respondents think it is satisfactory; 08% of respondents think it is unsatisfactory.
INFERENCE:
Majority of respondents think that the after sale service of Hero Motors bikes is satisfactory Graph showing classification of respondents based on their opinion towards after sale services of Hero Motors bikes
Graph show ing classification of respondents based on their opinion tow ards after sale services of hero Honda bikes
40%
36%
40%
Percentage
30% 20% 10% 0% Excellent Very good Satisfactory Un Satisfactory
16% 8%
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Table showing classification of respondents based on their opinion about the best competitor of Hero Motors bikes
Particulars TVS Yamaha Bajaj Others Total
INTERPRETATION:
The above statistical data shows the opinion of the respondents about the better competitor of Hero Motors bikes. 22% of respondents think T.V.S as their better competitor; 10% of respondents think it is Yamaha; 62% of respondents think it is Bajaj; and rest of respondents i.e. 06% think it is others.
INFERENCE: Majority of respondents think bajaj as the best competitor of Hero Motors
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Graph showing classification of respondents based on their opinion about the best competitor of Hero Motors bikes
Graph show ing classification of respondents based on their opinion about the best com petitor of hero Honda bikes
80% 60% 40% 20% 22% 0% 62% 10%
TVS
Yamaha
Bajaj
Percentage changes Others

6%
Competitors
Table showing classification of respondents based on their mode of Payment Particulars Down payment Exchange offer Installment Total No of respondents 36 03 11 50 Percentage changes 72% 06% 22% 100%
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INTERPRETATION:
The above statistical table shows how the respondents prefer payments. 72% of respondents prefer down payment; 06% of respondents prefer exchange offer;11% of respondents prefer installment.
INFERENCE: Majority of respondents prefer down payment as their mode of payment in selecting bikes
Graph showing classification of respondents based on their mode of Payment

Graph showing classification of respondents based on their mode of Payment 22%
6%
Down payment Exchange offer 72% Installment
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Table showing classification of respondents based on their opinion towards worthiness of bikes
Particulars Strongly agree Agree Disagree Strongly disagree Total
Percentage changes 16% 82% 02% 00 100%
INTERPRETATION:
The above statistical table shows the opinion of the respondents towards the worthiness of their bikes. 16% of respondents strongly agree their bikes are worth enough; 82% of respondents agree; 02% of respondents disagree; and rest 0% strongly disagrees.
INFERENCE: Majority of respondents agree that their bikes are worth enough
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Graph showing classification of respondents based on their opinion towards worthiness of bikes
Graph showing classification of respondents based on their opinion towards worthiness of bikes 100% 80% 60% 40% 20% 0% Strongly agree
Percentage changes
Percentage
82%
16% 2% Agree Disagree 0 Strongly disagree
Worthiness
Table showing classification of respondents based on their opinion about road grip of bikes
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INTERPRETATION:
The above statistical table shows the opinion of respondents towards the road grip of bikes. 16% of respondents think it is excellent; 30% of respondents think it is very good; 36% respondents think it is satisfactory; rest 18% of respondents think it is unsatisfactory.
INFERENCE:
Majority of respondents think that the road grip of Hero Motors bikes is satisfactory
Graph showing classification of respondents based on their opinion about road grip of bikes
Graph showing classification of respondents based on their opinion about road grip of bikes
40% 35% 30% 25% 20% 15% 10% 5% 0%
Excellent Very good Satisfactory Un Percentage Satisfactory changes
36% 30%
16%
18%
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Table showing classification of respondents based on their opinion regarding further alterations
Particulars Battery charger Storage space Road grip Spooked wheels others total
Percentage changes 18% 10% 48% 12% 12% 100%
INTERPRETATION:
The above statistical table shows the opinion of respondents regarding to their alternations of bikes. 36% of respondents think to have battery charges; 10% of respondents think to have storage space; 48% of respondents thinks to have road grip; 12% of respondents would like to have spoke wheels; rest of respondents i.e. 12% would like to have other alternations.
INFERENCE:
Majority of respondents prefer to have road grip as further alterations in their bikes
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Graph showing classification of respondents based on their opinion regarding further alterations
Graph showing classification of respondents based on their opinion regarding further alterations
48%
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%
Percentage
18% 10% 12% 12%
Battery charger
SUMMARY AND FINDINGS Alterations

Percentage changes
Storage space
Road grip
Spoked w heels
others
It is found that HERO MOTORS Bikes are basically meant for men. But they have also introduced bike Hero Motors pleasure for women users. Most of the Hero Motors bike users fall under the age group of 18 to 35 and usually are students and private jobholders. It is noticed that people with monthly income of 100000 and above are financially affordable to make a purchase of Hero Motors bikes students are exceptional. Its found that most of the Hero Motors bike users are well educated. Most of the Hero Motors bike users purchase decisions as got the influence of family and friends and advertisements.
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Mileage speed pick up are the criterias used by most of the bike purchasers when compare to other attributes of the bikes.
Most of the Hero Motors bike users think that the prices of Hero Motors bike are set moderate. It is noticed that the respondents have given the tag of satisfactory and very good towards various. Attributes like styling speed and picking up, mileage and coloring of availability and also after sale services. It is also found that spare parts of Hero Motors bikes are easily available to the customers/brokers. Most of the bike users get their vehicle serviced in authorized service and authorized dealer. BAJAJ & TVS are found to be healthy competitors of Hero Motors bikes. The mode of payment/purchase of the bikes is based on down payment basis. Hero Motors bike users: agree that using Hero Motors bikes is worthy. But they also except few alternations in the bike. Regarding, storage space, battery charger, road grip, spooked wheels the like.
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SUGGESTIONS AND CONCLUSIONS

Company should give more importance with regard to their dealers by providing them all the facilities and supports they except because, dealers are the important intermediaries who play vital role in pushing the products to customers. Company should provide good incentives and discounts in order to support the effects of dealers. After sale service is an important factor customer looks for at the timing of buying a bike. The customer will definitely look for the dealer after sale service so, the company and dealers should take initiative to appoint more quality service persons. The company should continue their advertising strategies in the forms of showroom displays, through magazines, newspaper etc. this will enhance better sales and improvement of the customers. Because most of them place their decisions based on advertisement. It is suggested to the company that slight modification is required to the existing bikes with regard to the various attributes expected by the customers like storage space, road grip, battery charger, and spoked wheels It is recommended that if the company targets more on students and private jobholders in Visakhapatnam city, sale of its bike can be increased.
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CONCLUSIONS
After the careful analysis made with regard to CUSTOMER
SATISFACAION and MARKETING STRATEGY OF HERO MOTORS bikes, it can be concluded that Hero Motors bike user are very much pleased about the bikes. It was found that most of the users at various occupational level are satisfied by the existing attributes of the bike with a slight alternations made to it. The special features on the basis of which purchase of bikes made are mileages, speed and pick up and moderate price.
The current marketing strategy is effective in satisfying the customers. But there is a need for modification. In the marketing element of the product with regard to attachments of additional attributes like battery charger, storage space, road grip, spooked wheels and the like.
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Annexure
Dear Sir / Madam,
I Jaideep a student of final year B.B.M at PYDAH Degree and PG College of Management Studies and I am doing a survey on the customer satisfaction for Hero Motors Bikes, as a part of my project. I request you to kindly fill this questionnaire and help me in my work. The information so collected will be used for a academic purposes and kept confidential.
Personal information
1) Name:-
2) GENDER: a) Male [ ] b) Female [ ]
3) AGE IN YEARS: a) Below 18 years c) 26 35 years e) Above 46 years [ [ ] ] b) 18 25 years [ d) 36 45 years [ ] ]
4) OCCUPATION: a)Private job [ ] ] e) Student [ ] b) Govt. job [ ]
c) Business/self employed [ d) Profession [ ]
f) Others (if any please specify)

5) QUALIFICATION: a) SSLC [ ] b) PUC [ ] [ ]
c) Under graduate [ ] d) Post graduate 6) MONTHLY FAMILY INCOME: a) Below Rs/- 5000 [ ] c) Rs/-10000 15000 [ ] e) Nil [ ]
b) Rs/- 5000-10000 d) Rs/- 15000 & above [ ]
[ ]
Questions relating to objective of study
7) How did you come to know about Hero Motors Bikes? a) Family & friends [ ] c) Colleagues [ ] b) Dealers [ ] d) Advertisements [ ]
8) Which is most important criteria used by you in selecting Bikes? a) Style [ ] b) Mileage [ ] d) Price [ ]
c) Speed & Pick up [ ]
9) What is the main reason for choosing Hero Motors Bikes? a) Style [ ] b) Mileage [ ] d) Price [ ]
c) Speed & Pick up [ ]

10) What is your opinion about the price of the vehicle? a) Low c) High [ ] [ ] b) Moderate d) Higher [ ] [ ]
11) What is your opinion about the Style of the vehicle? a) Excellent [ ] c) Satisfactory [ ] b) Very good [ ] d) Unsatisfactory [ ]
12) What is your opinion about the Mileage of the vehicle? a) Excellent [ ] c) Satisfactory [ ] b) Very good [ ] d) Unsatisfactory [ ]
13) What is your opinion about the Speed & pick up of the vehicle? a) Excellent [ ] c) Satisfactory [ ] b) Very good [ ] d) Unsatisfactory [ ]
14) What is your opinion about the Color of the vehicle? a) Excellent [ ] c) Satisfactory [ ] b) Very good [ ] d) Unsatisfactory [ ]
15) What do you think of availability of spare parts of Hero Motors Bikes? a) Very easy [ ] c) Not easy [ ] b) Easy [ ]
d) Not available at all [ ]
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16) Where do you service your Bike? a)Authorized dealer [ ] b) Local garage [ ] b) Authorized service [ ] d) Others (if any please specify)
17) What is your opinion about after sales service of Hero Motors Bikes? a) Excellent [ ] c) Satisfactory [ ] b) Very good [ ] d) Unsatisfactory [ ]
18) Whom do you think is better competitor of Hero Motors Bikes? a) TVS b) Bajaj [ ] b) Yamaha [ ]
[ ]
d) ) Others (if any please specify
19) What is the mode of payment you have preferred? a) Down payment [ ] c) Installment [ ] b) Exchange offer [ ]
20) Is the vehicle worth being purchased? a) Strongly agree [ ] c) Disagree [ ] b) Agree [ ] d) Strongly disagree [ ]
21) What is your opinion about the road grip of Hero Motors Bikes? a) Excellent [ ] c) Satisfactory [ ] b) Very good [ ] d) Unsatisfactory [ ]
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22) Would you like to go for further alterations with regard to a) Battery charger [ ] c) Road grip b) Storage space [ ] d) Spooked wheels [ ]
23) Suggestions for improvement of the Bikes
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Bibliography
TEXT BOOKS:
Marketing management by PHILIP KOTLER Little book of Marketing management by A SHANKAR NAG Essentials of Marketing management by S.A SHERLAKER Essentials of Marketing management by P.N. REDDY APPANAIAH
MAGAZINES: THE WEEK OVER DRIVE AUTO CAR
WEBSITES: www.heromotors.com www.google.com www.overdrive.com
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Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Feed back information

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

2. The Forces: The final component of marketing is to do with

Marketing Strategies & Consumer Satisfaction of HERO Motors

The Ten Rules of Radical Marketing

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

The Elements of Marketing Mix

The Product mix up of variables like-product-line and product

The Price mix is made up of pricing policies and strategies, the

The Promotion mix is made up of variables like personal selling,

The Place mix is made up a variable like transportation, warehousing

Marketing Strategies & Consumer Satisfaction of HERO Motors

b. Marketing increases employment opportunities. I.

II. III. IV.

Marketing Strategies & Consumer Satisfaction of HERO Motors

c. Marketing helps in creation of utilities Importance of marketing to individual business firm:

Marketing Strategies & Consumer Satisfaction of HERO Motors

Approaches to the study of marketing

Systems Approach. Commodity Approach:

engaged in buying and selling of the product.

Marketing Strategies & Consumer Satisfaction of HERO Motors

The System Approach:

Marketing Strategies & Consumer Satisfaction of HERO Motors

A Ownership Transfer 1. Concentration Buying/ Assembling. 2. Distribution/selling

C Involving Physical in (A+B)

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing functions are the activities of buying.

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

The Objective of the Study

Scope of the Study

both in sales process & after sales service.

speed & pickup, after sales service.

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Overview of the Chapters

Marketing Strategies & Consumer Satisfaction of HERO Motors

SUGGESTIONS AND CONCLUSIONS

Marketing Strategies & Consumer Satisfaction of HERO Motors

Defining Advertising Goals for Measured Advertising Results

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

Marketing Strategies & Consumer Satisfaction of HERO Motors

INTERPREATION & ANALYSIS

Table showing Classification of respondents based on their gender:

Male Female Total

84% 16% 100%

Marketing Strategies & Consumer Satisfaction of HERO Motors

INFERENCE: Majority of Hero Motors bike users are male

Graph showing Classification of respondents based on their gender

Graph showing classification of respondents based on Genders