2011

A Study of Future Prospect of Luxury Cars in India in the Year 2011

Group-2

Chapter One
A STUDY OF FUTURE PROSPECT OF LUXURY CARS IN INDIA IN THE YEAR 2011

PROBLEM DEFINITION: Performance of automotive industry in India. What opportunities exist for the luxury automobile players in Indian automotive industry? Evaluation of factors fuelling growth in the Indian automobile market. Major challenges and driving forces for Indian automotive industry. Who are the major competitors in global and Indian luxury car industry? Impact of new luxury cars on the market share of the existing luxury cars. To identify the market segment of the newly launched luxury cars.

PROBLEM STATEMENT:To find out the expectations of the consumers related to luxury cars in India so that the companies can react to satisfy their loyal consumers.

OBJECTIVE OF THE STUDY: To study the impact of the newly launched luxury cars on the existing car market segment.

COMMERCIAL UTILITY OF THE STUDY:The study will focus on a comparison between the existing cars and the newly launched ones in terms of features and prices. This will help the customers to make a purchasing decision. The study will also help them to compare between the different cars in terms of their benefits and price constraints.

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Chapter Two RESEARCH DESIGN:TYPE OF RESEARCH TO BE DONE:The type of business research to be done is Descriptive Research. a) FOCUS GROUPS:b) CASE STUDIES:c) PILOT STUDIES:-

METHODS OF DATA COLLECTION:Sample size:-100 Target Sampling:The target market for luxury hybrids consists of wealthy, middle-aged consumers. Sampling Techniques:Stratified sampling based on the income level and the consumer preference and status icons. Population elements:The population element is the overall population of the middle-aged, wealthy and passionate consumers for luxury cars in the city of Bangalore, India. Sample units:The sample units would be respondents within the age group of 21-40 years who are wealthy and are passionate about purchasing a luxury car for themselves, with high expectations.

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a)

INFORMATION SOURCES:-

The information has been sourced from various authentic and reliable sources like books, newspapers, industry portals.

b)

ANALYSIS METHOD:-

The following methods have been used to analyze the report: Ratio Analysis, Historical Trend Analysis and Judgmental Forecasting

LIMITATIONS OF THE STUDY: Focusing only on luxury cars segment. Neglecting SUVs, mid-segment, small cars Addressing the exact cause of the research through questionnaire.

Chapter Three PRECAUTIONARY ASPECTS:In the above research process the various aspects to be taken care are as follows: High volatility among the test and habits of customers. Errors of perception when customers take the questionnaire. Highly influential word-of-mouth marketing, which could prove fatal to even the best cars available in the market. Questionnaire options could confuse the respondent, as to what will be the best answer as two or more option would be similar The source where we collect our data would not be updated and could result in a wrong analysis.

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ANNEXURE:http://auto.indiamart.com/ http://www.marketresearchworld.net/ http://www.surfindia.com/ http://www.maguscars.com/

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