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SYNOPSIS FO CUSTOMER SATISFACTION

SYNOPSIS FO CUSTOMER SATISFACTION

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  • 1. A SYNOPSIS ONA STUDY ON CUSTOMER SATISFACTION TOWARDS HERO MOTO CORP. WITH SPECIAL REFERENCE TO ALIGARH REGION In partial fulfillment for the award of the degree Of MASTER IN BUSINESS ADMINISTRATION In MARKETING MANGALAYATAN UNIVERSITY, ALIGARH MAY 2011INTERNAL SUERVISOR SUBMITTED BYDr. Shailender singh Deepak Pratap Singh Enrollment no. 2007EIT018
  • 2. INTRODUCTION“Hero” is the brand name used by the Munjal brothers for their flagship company HeroCycles Ltd. A joint venture between the Hero Group and Honda Motor Company wasestablished in 1984 as the Hero Honda Motors Limited At Dharuhera India. Munjalfamily and Honda group both own 26% stake in the Company. In 2010, it was reportedthat Honda planned to sell its stake in the venture to the Munjal family.During the 1980s, the company introduced motorcycles that were popular in India fortheir fuel economy and low cost. A popular advertising campaign based on the sloganFill it - Shut it - Forget it that emphasized the motorcycles fuel efficiency helped thecompany grow at a double-digit pace since inception. The technology in the bikes ofHero Honda for almost 26 years (1984–2010) has come from the Japanese counterpartHondaHero MotoCorp has three manufacturing facilities based at Dharuhera, Gurgaon inHaryana and at Haridwar in Uttarakhand. These plants together are capable ofchurning out 3 million bikes per year. Hero MotoCorp has a large sales and servicenetwork with over 3,000 dealerships and service points across India. Hero Honda has acustomer loyalty program since 2000, called the Hero Honda Passport Program.The company has a stated aim of achieving revenues of $10 billion and volumes of 10million two-wheelers by 2016-17. This in conjunction with new countries where theycan now market their two-wheelers following the disengagement from Honda, HeroMotoCorp hopes to achieve 10 per cent of their revenues from international markets,and they expected to launch sales in Nigeria by end-2011 or early-2012. In addition, tocope with the new demand over the coming half decade, the company was going tobuild their fourth factory in South India and their fifth factory in Western India. Thereis no confirmation where the factories would be built.
  • 3. PROBLEM IDENTIFICATIONThe most successful new products and services are those that solve a problem forconsumers that no one else in the category has solved. Sounds easy, but how do youknow what problems consumers face, and more important, how do you reliably knowhow important each one is?Customer satisfaction is positively related with product and service quality. Thepresent study will investigate the relationship among product and service quality,customer satisfaction in the context of Hero Moto Corp.
  • 4. LITERETURE REVIEWMarsha Peter (2OO2) examines temporal changes in post-purchase productsatisfaction for a durable goods purchase. Involvement and satisfaction variables weremeasured in a cross-sectional and a longitudinal study of car owners. Overall,consumers with high product involvement showed slightly greater satisfaction withtheir cars than low-involvement consumers over the term of ownership. However, inthe 2-month period after purchase, consumers with high product involvement showeda decline in satisfaction, whereas low-involvement consumers satisfaction increased.The role of disconfirmation in these changes was investigated. Benefits and problemsdisconfirmation were found to make independent contributions to satisfactionjudgments, and the strength and form of contribution varied with product involvement.These findings suggest that benefits and problems disconfirmation need to bemeasured separately in satisfaction research.Yooshik Yoon(2004) studied the effects of motivation and satisfaction ondestinationloyalty: a structural model and investigates the relevant relationships among theconstructs by using a structural equation modeling approach. Consequently,destination managers should establish a higher satisfaction level to create positivepost-purchase behavior, in order to improve and sustain destination competitiveness.Diane Halstead(1993) studied the Focuses on a group of unsatisfied car owners.Examines the roles of the car warranty and the post-purchase service received duringthe complaint process in terms of their effects on customers satisfaction withcomplaint resolution. Presents some suggestions for customer service policies,complaint handling procedures, and warranty fulfillment service.James Y.L. Thong(2006) studied the effects of post-adoption beliefs on theexpectation-confirmation model for information technology continuance .Theexpectation-confirmation model (ECM) of IT continuance is a model for investigatingcontinued information technology (IT) usage behavior. This paper reports on a studythat attempts to expand the set of post-adoption beliefs in the ECM, in order to extendthe application of the ECM beyond an instrumental focus. The expanded ECM,incorporating the post-adoption beliefs of perceived usefulness, perceived enjoyment
  • 5. and perceived ease of use, was empirically validated with data collected from an on-line survey of 811 existing users of mobile Internet services. The data analysis showedthat the expanded ECM has good explanatory power (R2=57.6% of continued ITusage intention and R2=67.8% of satisfaction), with all paths supported. Hence, theexpanded ECM can provide supplementary information that is relevant forunderstanding continued IT usage. The significant effects of post-adoption perceivedease of use and perceived enjoyment signify that the nature of the IT can be animportant boundary condition in understanding the continued IT usage behavior. At apractical level, the expanded ECM presents IT product/service providers with deeperinsights into how to address IT users’ satisfaction and continued patronage.Marsha L. Richins(2002) Post-purchase product satisfaction: Incorporating theeffects of involvement and time describes changes in post-purchase productsatisfaction for a durable goods purchase. Involvement and satisfaction variables weremeasured in a cross-sectional and a longitudinal study of car owners. Overall,consumers with high product involvement showed slightly greater satisfaction withtheir cars than low-involvement consumers over the term of ownership. However, inthe 2-month period after purchase, consumers with high product involvement showeda decline in satisfaction, whereas low-involvement consumers satisfaction increased.The role of disconfirmation in these changes was investigated. Benefits and problemsdisconfirmation were found to make independent contributions to satisfactionjudgments, and the strength and form of contribution varied with product involvement.These findings suggest that benefits and problems disconfirmation need to bemeasured separately in satisfaction researchClaes Fornell(1992) examines that Many individual companies and some industriesmonitor customer satisfaction on a continual basis, but Sweden is the first country todo so on a national level. The annual Customer Satisfaction Barometer (CSB)measures customer satisfaction in more than 30 industries and for more than 100corporations. The new index is intended to be complementary to productivitymeasures. Whereas productivity basically reflects quantity of output, CSB measuresquality of output (as experienced by the buyer). The author reports the results of alarge-scale Swedish effort to measure quality of the total consumption process ascustomer satisfaction. The significance of customer satisfaction and its place within
  • 6. the overall strategy of the firm are discussed. An implication from examining therelationship between market share and customer satisfaction by a location model isthat satisfaction should be lower in industries where supply is homogeneous anddemand heterogeneous. Satisfaction should be higher when theheterogeneity/homogeneity of demand is matched by the supply. Empirical support isfound for that proposition in monopolies as well as in competitive market structures.Likewise, industries in general are found to have a high level of customer satisfactionif they are highly dependent on satisfaction for repeat business. The opposite is foundfor industries in which companies have more captive markets. For Sweden, the 1991results show a slight increase in CSB, which should have a positive effect on thegeneral economic climate.Richard Oliver (2000) Response determinants in satisfaction judgement, examinesthat The effects of five determinants of satisfaction are tested as well as individualdifferences in satisfaction formation. Manipulations of attribution, expectancy,performance, disconfirmation, and equity are written into stock market tradingscenarios in a full factorial design. Results show that all main effects and four ordinaltwo-way interactions are significant. Then, an individual-level analysis is performedon the repeated measures data. Three clusters of subjects sharing similar responsetendencies (disconfirmation, performance, and equity) are identified and related toinvestment attitudes, outcome attitudes, and demographics. No consistent relationshipsare discovered, suggesting that the response differences reflect deeper behavioraltendencies. Implications of this approach for satisfaction paradigms, satisfactiontheory, and individual satisfaction response orientations are presented.
  • 7. NEED FOR THE STUDYCustomer is one for whom you satisfy a want or need in return for some of payment.The payment may be money, may be time, or may be goodwill but there is some formof payment. Satisfaction is the level of person felt state by comparing productsperceived in relation to the person’s expectations.Satisfaction level is function of the differences between perceived performance andexpectations. If the performance falls short of expectation, the customer is notsatisfied. If the performance matches the expectations the customer’s are highlysatisfied. If the performance is beyond his expectation the customer is thrilled.Customer satisfaction is customer’s positive or negative feeling about the value thatwas perceived as a result of using particular organization’s offering in specific usedreaction to a series of use situation experience. According to P.F. Ducker, the purposeof business is to create and retain a satisfied customer. A society supports businessbecause they serve its member’s by catering to their needs and leave them satisfied. Ifthe business dissatisfied its customer’s and not only these customer stop availingservice, but society at large will condemn the firm and may even penalize it to thepoint of its extinction.
  • 8. SCOPE OF THE STUDY The study is limited to Hero Moto. Corp. vehicle buyers. The customer includes customers who enter the show room. This study will help us to understand customers, preferences and their needs expected from the business owners. This study will not only help me as a student but is also assist Hero. Moto. Corp. to improve their service standards
  • 9. OBJECTIVESTo identify the factor that influence the customer satisfaction.To analyze after sales services of bikes.
  • 10. HYPOTHESISThe study is based on following assumption: There are a lot of factors that influence customer satisfaction . After sales services of the bikes of Hero Moto Corp. is good.
  • 11. RESEARCH METHODOLOGYTo achieve the objectives of the study I have decided to use following elements of theresearch:-RESEARCH DESIGNThe study is basically based on both primary and secondary data. The primary datahas been collected through questionnaire and several structured and unstructuredinterviews were also conducted to elicit fast hand information with the theme of theresearch work. However, secondary data is collected from various sources likejournals, books, manuals, and reports of the state concerned for literature part. Datacollected both from primary and secondary sources have been interpreted with the helpof statistical devices. The study was conducted in 13 priority states during the periodfrom 2003-2007, actually focusing on growth of linked SHGs through microfinance.SAMPLING TECHNIQUEJudgmental sampling technique is usedSAMPLING SIZESample size is estimated to be 50 people.DATA COLLECTIONPRIMARY DATA:Primary data can be collected by Questionnaire and Personal interviews with thecustomers.SECONDARY DATA:Internet and existing literature of different organization can be a source of secondarydata. The surveys previously carried out in this respect can also be a source ofsecondary data.
  • 12. ORGANISATION OF STUDYCHAPTER 1. Introduction and problem identification 1. Need and significance of the work along with managerial understanding and applicability. 2. Review of Literature 3. Objectives of Study 4. Hypothesis 5. Research methodologyChapter 2. Conceptual framework of the study Detailed explanation (theory) about the theme / subjectarea of the study will be given.Chapter 3. Data analysis and interpretation This will include data analysis and interpretation aftermaking thorough use and application of appropriate statisticaltechniques as mentioned in chapter one.Chapter. 4. Finding and conclusionChapter .5. Suggestion and recommendation along withfuture implication of workAppendicesBibliography/list of references

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