42599642 a-project-report-on-customer-satisfaction

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42599642 a-project-report-on-customer-satisfaction

  1. 1. TERM PAPER OF CONSUMER BEHAVIOURTOPIC: Post purchase satisfaction level of Hyundaiproducts.SUBMITTED TO: SUBMITTED BY:Mr. Amit Dutt Abhimanyu Sharma Roll no: RT1903B71 REG NO: 10907840 SEC: RT190
  2. 2. INTRODUCTIONIt is true fact that if you are satisfied you recommended to others. Word of mouth and customersatisfaction play a very important role in determining market perception about an automobile. Itis the market perception that determines the success of a company and so it is very important forthe car manufacturers to measure the “willingness of existing users of a product to recommend itto others”. The same is a lot of interest to customers as well for it helps them make the purchasedecision.A car is one of the most significant purchases that an Indian household makes and this termpaper addresses the most important question that perplexes car manufacturers:“What makes the perfect car that influence will willfully purchase?”The Term Paper highlights the factors that influence the buying decision of a consumer.The factor under consideration would be: • Price • Features in the car • Safety standard • Warranty scheme • Finance facility Customer satisfaction measurement helps to promote an increased focus on customer outcomesand stimulate improvements in the work practices and processes used within the company.Customer expectations are the customer-defined attributes of your product or service. We cannotcreate satisfaction just by meeting customer’s requirements fully because these have to be met inany case. However falling short is certain to create dissatisfaction.Major attributes of customer satisfaction can be summarized as: • Product quality • Keeping delivery commitments • Price • Responsiveness and ability to resolve complaints and reject reports • Overall communication, accessibility and attitudes
  3. 3. Values + Benefits - Features - AttributesWe cannot begin to address the customer satisfaction issue we define the parameters andmeasures clearly.The customer satisfaction index represents the overall satisfaction level of that customer as onenumber, usually as a percentage
  4. 4. The buying process involves the following steps: Problem Recognition Information search Evaluation Decision Buy Post Purchase Dissonance Dissatisfaction = Satisfaction = Brand Brand Rejection Acceptance
  5. 5. “Customer Satisfaction Survey for HYUNDAI”In this world of competition any organization cannot avoid Customers. It has become a necessityfor an organization for its survival in any industry so that customer Satisfaction plays importantrole in each an every product life cycle. Today Companies are facing toughest competition ever.The intense competition makes the companies to take the necessary steps. To retain their existingcustomer as well as attract new once. In the environment of advancement of the technology thecompanies are trying hard to keep the pace with latest development. This survey will help thecompany to know the customers satisfaction level and feedback of customers at the product. Itwill also help company to know about the competitors. This will help company to know aboutwants and expectation of customers. The company can also know if there are any problems facedby the customers.COMPANY PROFILEHyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai MotorCompany (HMC), South Korea and is the second largest car manufacturer and the largestpassenger car exporter from India. HMIL presently markets 37 variants of passenger cars acrosssegments. The Santro in the B segment, the Getz Prime, i10 and the Premium hatchback i20 inthe B+ segment, the Accent and the Verna in the C segment, the Sonata Embera in the Esegment and the Tucson in the SUV segment.Hyundai Motor India Ltd, continuing with its tradition of being the fastest growing passenger carmanufacturer, registered total sales of 489,328 vehicles in the calendar year (CY) 2008, anincrease of 49.6 percent over CY 2007. In the domestic market it clocked a growth of 22.4percent as compared to245, 387 units in 2007 while overseas sales grew by 92.5 percent, withexports accounting for 243,931 units in 2008.Hyundai has different product as follow:1. Santro Xing:Santro is one most small family related comfortable car, which come under Economy segment. Itis mostly sellable by the Hyundai Motors. It has been most good performance by the buyers.And also good result of it.
  6. 6. 2. Hyundai i10:3. I 20:
  7. 7. 4: Accent5. Verna:Sr. No. Features1. Types LxLxi2. Petrol Or Diesel Petrol3. Seating capacity 54. Launch in India 2006INDUSTRY PROFILEIndustry ProfileIndias love affair with the automobile is famously embodied in the 1920s Rolls Roycecollections of the erstwhile maharajas. The growing middle class aspires for the automobile forits convenience and as a status symbol. Upper middle class and wealthy car owners employ full-time chauffeurs to navigate the aggressive and seemingly lawless traffic patterns of most cities.The construction of expressways such as the Mumbai-Pune expressway has opened up newtouring opportunities. The expected launch of a Formula One circuit in New Delhi is expected tospark public enthusiasm for a motor sporting industry.The automobile industry has changed the
  8. 8. way people live and work. The earliest of modern cars was manufactured in the year 1895.Shortly the first appearance of the car followed in India. As the century turned, three cars wereimported in Mumbai (India).Within decade there were total of 1025 cars in the city.Whileautomobiles were introduced to India in the late 1890s, the manufacturing industry only took offafter independence in 1947. The protectionist economic policies of the government gave rise inthe 1950’s to the Hindustan Motors Ambassador, based on a 1950’s Morris Oxford, and, are stillubiquitous in the roads and highways of India. Hindustan Motors and a few smallermanufacturers such as Premier Automobiles, Tata Motors, Bajaj Auto, Ashok Leyland andStandard Motors held an oligopoly until Indias initial economic opening in the 1980s. Themaverick Indian politician Sanjay Gandhi championed the need for a "peoples car"; the projectwas realized after his death with the launch of a state-owned firm Maruti Udyog Ltd.(MarutiSuzuki India Ltd.) which quickly gained over 50% market share. The Maruti 800 becamepopular because of its low price, high fuel efficiency, reliability and modern features relative toits competition at the time. Tata Motors exported buses and trucks to niche markets in thedeveloping world.The liberalization policy of Indian government in 1991 opened the flood gatesof competition and growth which have continued up to today. The high growth in the Indianeconomy has resulted in all major international car manufacturers entering the Indian market.General Motors, Ford, Toyota, Honda, Hyundai and others set up manufacturing plants. RollsRoyce, Bentley and May Bach are examples of the few high end automobile manufacturerswhich entered India in the recent years. The Tata Nano is at the lower end of the price rangecosting approx US$ 2,500 and Bugatti Veyron at the other with a price tag of over US$ 2million.The automobile industry in India is the eleventh largest in the world with an annualproduction of approximately 2 million units. India is expected to overtake China as the worldsfastest growing car market in terms of the number of units sold and the automotive industry isone of the fastest growing manufacturing sectors in India. Because of its large market (India hasa population of 1.1 billion; the second largest in the world), a low base of Car ownership (25 per1,000 people) and a surging economy, India has become a huge attraction for car manufacturersaround the world. Though several major foreign automakers, like Ford, GM and Honda, havetheir manufacturing bases in India, Indian automobile market is dominated by domesticcompanies. Maruti Suzuki is the largest passenger vehicle company; Tata Motors is the largestcommercial vehicle company while Hero Honda is the largest motorcycle company in India.Other major Indian automobile manufacturers include Mahindra & Mahindra, Ashok Leylandand Bajaj Auto Ltd. The automotive industry directly and indirectly employs 13 millionindividuals in India. The industry is valued at about US$ 35 billion contributing about 3.1% ofIndias GDP (nominal). Indias cost-competitive auto components industry is the second largestin the world.List of automobile manufacturers in IndiaIndian companies Multi-national companies • Force Motors Audi • Ashok Leyland BMW • Hindustan Motors Fiat • Mahindra & Mahindra Limited Ford Motors • Hyundai Motors ltd • Maruti Suzuki General Motors • Premier Automobiles Honda
  9. 9. • REVA Hyundai • Tata Motors 8 Renault-Nissan Mercedes-Benz • Mitsubishi Motors • Skoda • ToyotaOBJECTIVE & SCOPEObjectivePrimary objective:-1. Conduct customer satisfaction survey for HYUNDAI.2. To find out customer expectation from HYUNDAI.3. To study the factors those satisfy and delight the customer.Secondary objective:-1. To find out problem faced by customers.2. To understand the customers requirement from the HYUNDAI.3. To know customer opinion about HYUNDAI’s vehicles.SCOPE OF WORKThe customer is always right. This is incontrovertible. Customer belongs at the heart of everybusiness because without them there is no business. Without their money, there is no exchange.Therefore, for any company, the customer is the starting point that influences very move.Marketing is based on this logic. It is process by which a company finds out what its customerswant and need, and then delivery it in a way that that makes as much profit as possible. Becausemarketing focuses on customers, the heart of every business and sources of all income, it followslogically that marketing as a mere function of business to be performed intermittently. Byfocusing on different customers, a marketing orientation gives a company an edge over thosewho focus more on different products, selling and the production. Marketing opportunity arisewhen customer wants and need arise. There is no point in trying to sell something for whichthere is no demand. The production process must be informed by customer demand. Customerwill not often buy just because it is exist.Customers are satisfied when offered what are needs. Inpractice, they are not all that easy to please. Marketing is also about predicting what customerwill want and need in the future. It is native have to think that customers needs and want remainconstant, adopting the customer-centered approach to a business will involve change. Aspsychiatrists have noted, change is always stressful but often necessary. Wants and needs changealong with markets, product, and cultures. The SLEPT FACTOR (social, legal, economical,political, and technological) can affect the behavior of customers, the market they form, and theways in which a company can respond. To stay ahead of competition, a change in outlook mustoccur. Innovation should be encouraged. Marketing has been conceptualized and accepted as anactivity directed at satisfying need and wants through exchange process. The “MarketingConcept” is essentially the satisfaction of the customer needs through integrated marketing
  10. 10. with the intend to satisfy the customers while earning the profit. The basic idea is that a satisfiedcustomer will likely to repurchase, leading to increase sales and share for the firm. Integratedmarketing activities amied at producing customer satisfaction include what have been referred toas 4 P’s of marketing, namely product, promotion, price & place. Generally marketing isconceder as the Primary functional area in the firm that works to satisfy the firms customers. It istrue that customer satisfaction is the result of total marketing efforts, industry has generallyfailed to recognized the importance of customer as provided by physical distribution to thecustomer satisfaction and has not effectively integrated customer service with the othercomponent of marketing mix.Customer’s expectations:individual or organization that has value. Customer’s expectations are continuously increasing.Brand loyalty is a thing of past. Customer seek out products and producers that are best able tosatisfy there requirements. A product does not need to be rated highest by the customer on alldimensions, only those they think are important. Customer is defined as anyone who receivesthat which is produced by theCustomer perceived value:Customer perceived value is difference between the prospective customer’s evaluation of all thecost of an offering and the perceived alternatives. Total customer value is perceived monetaryvalue of the bundle of economics, functional and psychological benefits customer expect fromthe given marketing offering.Delivering high customer value the key to generating highcustomerloyalty is to deliver high customer value. According to Michel Lanning, a company must designa competitively superior value deliver system.Customer satisfaction:Satisfaction is the person’s feelings of pleasure or disappointment resulting from comparing aproduct’s perceived in relation to his or her expectations. In general, if performance of theproducts matches the expectations,the customer is said to be satisfied. Customer satisfaction, abusiness term, is a measure of how products and services supplied by a company meet or surpasscustomer expectations. In a competitive marketplace where business complete for customers,customer satisfaction is seen as a key differentiator and increasingly has become a key elementof business strategy. If performance exceeds expectations, the customer is said to be highlysatisfied or delighted. If the performance falls short of expectations, the customer is said to bedissatisfied.Measuring customer satisfaction:Organizations are increasingly interesting in retaining existing customers while targeting non-customers measuring customer satisfaction provides an indication of how successful theorganization is at providing products and/or services to the marketplace. Customer satisfaction isan ambiguous and abstract concept and the actual manifestation of the state of satisfaction willvary from person to person and product/service to product/service.The state of satisfactiondepends on a number of both psychological and physical variables which correlate with
  11. 11. satisfaction can also vary depending on other options the customer may have and other productsagainst which the customer can compare the organization’s products.Importance to measure customer satisfaction:While is it is critical to be in sync with the overall business objectives of the organization, it isalso critical to be in tune with information requirements of users, and the value they find inservices provided by the info center. In order to be perceived as integral assets to theirorganizations, most information professionals are concerned with expanding their activities, andserving more customers better. Building on a loyal customer or user base is the best and easiestway to grow your business. Just as companies find it costs approximately five times more toacquire new customers than it costs to keep a customer, Info Centers will find it most costeffective to grow by building on the services now provided to loyal, committed customers. Tocontinue earning that customer loyalty, information professionals must keep tabs on thesatisfaction levels and perceptions of value held by Info Center users. Strategies to develop thenew business should always be balanced by strategies to retain existing business and ensureongoing satisfaction of existing customers. There is an also real bottomline reason for measuringcustomer satisfaction. Positive results from customer satisfactions studies will make a strongstatement in support of continued funding for Info Center activities.Tools for measuring Customer Satisfaction:Complaint and Suggestion Systems:A customer-centered organization makes it easy for customers to register suggestions andcomplaints. Companies also using web sites and e-mail for quick, two-way communication.Customer Satisfaction Survey:Responsive companies measure customer satisfaction directly by conducting periodic surveys.Ghost Shopping:Companies can hire people to pose as potential buyers to report on strong and weak pointsexperienced in buying the company’s and competitor’s products.These shoppers can even testthe company’s sales personnel handle various situations.Lost Customer Analysis:Companies should contact customers who have stopped buying or who have switched to anothersupplier to learn why this happened.Focus Groups:Focus groups can be held on an informal or formal basis. On an informal basis, consider havinga group of users meet for coffee or lunch to discuss their satisfaction with services beingevaluated. On a more formal basis, a facilitator with experience in leading focus groups canwork with personnel to plan questions and activities to elicit perception of value and satisfactionfromparticipants.Customer Satisfaction Survey:Study show that although customers are dissatisfied with one out of every four purchases, lessthan five percent of dissatisfied customers will complain.Most customers will buy less or switchto other supplier. Complaint levels are thus not good measure of customer satisfactionsresponsive companies measure customers Satisfaction directly by conducting periodic survey.They send questionnaire or make telephonic calls to a random sample of recent customers. They
  12. 12. also solicit buyer’s views on there competitor performance.While collecting customersatisfaction data, it is also useful to askedadditional questions to measure re purchase intention; this will normally be high if his customersatisfaction is high. It is also useful to measure likely hood or willingness to recommend thecompany and brand to others. A high positive word-of-mouth score indicates that the company isproducing high customer satisfaction.Customer satisfaction helps company in knowing thewants, needs and expectation of customers. It also helps to collect feedback about products. Thiswill assist company in new product development.REVIEW OF LITERATURE Marsha Peter (2OO2) examines temporal changes in post-purchase product satisfaction for a durable goods purchase. Involvement and satisfaction variables were measured in a cross-sectional and a longitudinal study of car owners. Overall, consumers with high product involvement showed slightly greater satisfaction with their cars than low-involvement consumers over the term of ownership. However, in the 2-month period after purchase, consumers with high product involvement showed a decline in satisfaction, whereas low-involvement consumers satisfaction increased. The role of disconfirmation in these changes was investigated. Benefits and problems disconfirmation were found to make independent contributions to satisfaction judgments, and the strength and form of contribution varied with product involvement. These findings suggest that benefits and problems disconfirmation need to be measured separately in satisfaction research. Yooshik Yoon(2004) studied the effects of motivation and satisfaction on destination loyalty: a structural model and investigates the relevant relationships among the constructs by using a structural equation modeling approach. Consequently, destination managers should establish a higher satisfaction level to create positive post-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 during the complaint process in terms of their effects on customers satisfaction with complaint 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 the expectation-confirmation model for information technology continuance .The expectation-confirmation model (ECM) of IT continuance is a model for investigating continued information technology (IT) usage behavior. This paper reports on a study that attempts to expand the set of post-adoption beliefs in the ECM, in order to extend the application of the ECM beyond an instrumental focus. The expanded ECM, incorporating the post-adoption beliefs of perceived usefulness, perceived enjoyment and perceived
  13. 13. 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 showed that the expanded ECM has good explanatory power (R2=57.6% of continued IT usage intention and R2=67.8% of satisfaction), with all paths supported. Hence, the expanded ECM can provide supplementary information that is relevant for understanding continued IT usage. The significant effects of post-adoption perceived ease of use and perceived enjoyment signify that the nature of the IT can be an important boundary condition in understanding the continued IT usage behavior. At a practical level, the expanded ECM presents IT product/service providers with deeper insights into how to address IT users’ satisfaction and continued patronage. Marsha L. Richins(2002) Post-purchase product satisfaction: Incorporating the effectsof involvement and time describes changes in post-purchase product satisfaction for a durablegoods purchase. Involvement and satisfaction variables were measured in a cross-sectional and alongitudinal study of car owners. Overall, consumers with high product involvement showedslightly greater satisfaction with their cars than low-involvement consumers over the term ofownership. However, in the 2-month period after purchase, consumers with high productinvolvement showed a decline in satisfaction, whereas low-involvement consumers satisfactionincreased. The role of disconfirmation in these changes was investigated. Benefits and problemsdisconfirmation were found to make independent contributions to satisfaction judgments, and thestrength and form of contribution varied with product involvement. These findings suggest thatbenefits and problems disconfirmation need to be measured separately in satisfaction researchClaes Fornell(1992) examines that Many individual companies and some industries monitorcustomer satisfaction on a continual basis, but Sweden is the first country to do so on a nationallevel. The annual Customer Satisfaction Barometer (CSB) measures customer satisfaction inmore than 30 industries and for more than 100 corporations. The new index is intended to becomplementary to productivity measures. Whereas productivity basically reflects quantity ofoutput, CSB measures quality of output (as experienced by the buyer). The author reports theresults of a large-scale Swedish effort to measure quality of the total consumption process ascustomer satisfaction. The significance of customer satisfaction and its place within the overallstrategy of the firm are discussed. An implication from examining the relationship betweenmarket share and customer satisfaction by a location model is that satisfaction should be lower inindustries where supply is homogeneous and demand heterogeneous. Satisfaction should behigher when the heterogeneity/homogeneity of demand is matched by the supply. Empiricalsupport is found 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 satisfaction if they arehighly dependent on satisfaction for repeat business. The opposite is found for industries inwhich companies have more captive markets. For Sweden, the 1991 results show a slightincrease in CSB, which should have a positive effect on the general economic climate.Richard Oliver (2000) Response determinants in satisfaction judgement, examines that Theeffects of five determinants of satisfaction are tested as well as individual differences insatisfaction formation. Manipulations of attribution, expectancy, performance, disconfirmation,and equity are written into stock market trading scenarios in a full factorial design. Results showthat all main effects and four ordinal two-way interactions are significant. Then, an individual-level analysis is performed on the repeated measures data. Three clusters of subjects sharing
  14. 14. similar response tendencies (disconfirmation, performance, and equity) are identified and relatedto investment attitudes, outcome attitudes, and demographics. No consistent relationships arediscovered, suggesting that the response differences reflect deeper behavioral tendencies.Implications of this approach for satisfaction paradigms, satisfaction theory, and individualsatisfaction response orientations are presented.RESEARCHMETHODOLOGYRESEARCH METHODOLOGYDefinition:Research methodology is a process to systematically solve the research problem. It maybe understood as a science of studying how research is done scientifically. Why a research studyhas been undertaken, how the research problem has been defined. In what way and why thehypothesis has been formulated, what data have been collected and particular method has beenadopted. Why particular technique of analyzing data has been used and a host of similar otherquestions are usually answered when we talk of research methodology concerning a researchproblem or study.A research design serves as a bridge between what has been established (theresearch objectives) and what is to be done, in the conduct of the study. In this project researchdone is of conclusive nature. Conclusive research provides information that help in making arational decision. Descriptive design was choose to measure the satisfaction level of customerson the basis of different parameters such as quality, price, features, technology, after saleservices etc.This design ensured complete clarity and accuracy. It also ensured minimum bias incollection of data and reduced the errors in data interpretation. Statistical method was followedin this research because the data was of descriptive nature and it also enabled accurategeneralizations.Introduction:The objective of this term paper is to conduct the Customer Satisfaction Survey for Hyundai andrecording, analyzing and interpreting the wants and expectations of customers. For the company,it is essential to know whether customers are satisfied or not with the Hyundai and servicesprovided by company.Statements of the problem:The purpose of conducting this research is to get the actual idea about the experiences ofcustomers and their satisfaction level with Hyundai. What types of problem they face afterpurchasing the vehicles. The purpose of conducting this research is also to find out expectationsof customers for Hyundai. Users were selected and then the analysis was formed regarding thepeople’s beliefs, satisfaction and expectations about the Hyundai.
  15. 15. SOURCES OF DATAPrimary data:Primary data are those which are collected a fresh and for the first time and thus happento be original in character. It was collected through questionnaire and personal interviews.Secondary data:The secondary data are those which have already been collected by someone else andWhich have already been through the statistical process. The data were collected in theform of company profile and produce profile from the web sites and news paper. Some ofthe books were referred for theoretical concepts.DATA COLLECTION & DATA ANALYSISFACTOR ANALYSIS
  16. 16. Correlation Matrix In Did you Would which Which How Are receive you like sector Would model many Prefere you Are you Do you What is any Do you to do you you like of years nce for satisfi satisfied prefer your Post- informat find easy recomm feel to re Hyunda you are choosin ed with free Hyunda sales ion availabilit end the Hyunda purchas i are using g with accessor i- experienc about y of Hyundai i should e the you this particul your ies Insuran e after “service spare car to improve Hyundai using model ar car car provided ce purchase due” parts otherrs ? ’s car?C Which model ofor Hyundai are you 1.000 -.047 -.158 -.089 .091 .255 -.189 .306 .209 -.204 .195 -.065re using?la How many yearsti you are using ? -.047 1.000 .117 .003 -.051 -.029 .161 -.191 -.061 .096 -.085 -.077o Preference forn choosing particular -.158 .117 1.000 .145 .109 .127 .198 -.094 .102 -.086 .034 -.229 car? Are you satisfied -.089 .003 .145 1.000 -.164 -.027 .165 .144 -.113 -.030 -.213 .092 with your car? Are you satisfied with the free .091 -.051 .109 -.164 1.000 .031 .198 -.141 .107 .107 .270 .061 accessories? Do you prefer Hyundai- .255 -.029 .127 -.027 .031 1.000 -.050 -.011 .200 .021 .203 -.007 Insurance? What is your Post- -.189 .161 .198 .165 .198 -.050 1.000 -.091 .058 -.099 .100 -.026 sales experience? Did you receive any information .306 -.191 -.094 .144 -.141 -.011 -.091 1.000 .021 -.247 .049 .346 about “service due”? Do you find easy availability of spare .209 -.061 .102 -.113 .107 .200 .058 .021 1.000 .045 .054 -.158 parts? Would you like to recommend the -.204 .096 -.086 -.030 .107 .021 -.099 -.247 .045 1.000 .104 .014 Hyundai car to others? In which sector you think Hyundai .195 -.085 .034 -.213 .270 .203 .100 .049 .054 .104 1.000 .204 should improve? Would you like to re purchase the -.065 -.077 -.229 .092 .061 -.007 -.026 .346 -.158 .014 .204 1.000 Hyundai’s car?
  17. 17. Communalities Initial ExtractionWhich model of Hyundai are 1.000 .640you usingHow many years you are 1.000 .231using this modelPreference for choosing 1.000 .576particular carAre you satisfied with your 1.000 .683carAre you satisfied with thefree accessories provided by 1.000 .627the companyDo you prefer Hyundai-Insurance over any other 1.000 .686insurance optionWhat is your Post-salesexperience after purchasing 1.000 .666the carDid you receive anyintimation through calls orletters for the “service due” 1.000 .696date to get your vehicleservicedDo you find easy availability 1.000 .424of spare partsWould you like torecommend the Hyundai car 1.000 .744to your friends/relatives?In which sector do youthink/feel Hyundai should 1.000 .636improve?Would you like to re 1.000 .754purchase the Hyundai’s car?Extraction Method: Principal Component Analysis.
  18. 18. Total Variance ExplainedCompo Initial Eigenvalues Extraction Sums of Squared Loadingsnent Total % of Variance Cumulative % Total % of Variance Cumulative %1 1.848 15.403 15.403 1.848 15.403 15.4032 1.727 14.388 29.791 1.727 14.388 29.7913 1.403 11.693 41.484 1.403 11.693 41.4844 1.359 11.328 52.813 1.359 11.328 52.8135 1.026 8.547 61.360 1.026 8.547 61.3606 .960 8.004 69.3647 .862 7.185 76.5498 .729 6.076 82.6259 .703 5.861 88.48610 .629 5.244 93.73011 .457 3.810 97.54012 .295 2.460 100.000Extraction Method: Principal Component Analysis.
  19. 19. Component Matrixa Component 1 2 3 4 5Which model of Hyundai are .691 .171 .277 -.229 -.061you usingHow many years you are -.424 .123 .045 -.005 .184using this modelPreference for choosing -.347 .354 .521 .217 .111particular carAre you satisfied with your -.207 -.393 .413 .360 .430carAre you satisfied with thefree accessories provided by .085 .587 -.217 .371 -.302the companyDo you prefer Hyundai-Insurance over any other .335 .425 .250 -.092 .568insurance optionWhat is your Post-salesexperience after purchasing -.342 .257 .262 .610 -.204the carDid you receive anyintimation through calls orletters for the “service due” .615 -.424 .266 .258 .023date to get your vehicleservicedDo you find easy availability .213 .482 .309 -.219 .054of spare partsWould you like torecommend the Hyundai car -.223 .244 -.588 -.086 .531to your friends/relatives?In which sector do youthink/feel Hyundai should .419 .488 -.260 .389 .059improve?Would you like to re .379 -.318 -.353 .581 .216purchase the Hyundai’s car?Extraction Method: Principal Component Analysis.a. 5 components extracted.
  20. 20. CONCLUSIONIt has been observed that most customers are satisfied with pre sales servicessimilarly most of these customers are dissatisfied with the post sales service which is thematter of concern for the company. Hyundai needs to improve some parts ofproducts specifically the interiors. High customer satisfaction level helps the company toretain its existing customer as well as generate new customer through word to mouthpublicity.Customer satisfaction index is a good tool to make improvements in the productsand services of the company. And therefore should utilize carefully & kept asConfidential as possible.SUGGESTIONAfter conducting the survey and knowing the market, I realized that: • The company should keep in mind the need of young generation. • Company should improve the promotion strategy of product. • Company should improve the promotion strategy of Add-on services. • It will be beneficial for the company to make the warehouse near to theShowroom and there should be roof facility, adequate security facility in theWarehouse. • The Company should know its customers satisfaction level throughout doingperiodic surveys. Periodic surveys can treat customer satisfaction directly. • Company should improve/upgrades its employee’s product knowledge,market situation, and its competitor’s knowledge by giving proper training toemployee. • Company should upgrade or innovate its new product. • The Company should not only concentrate on the customer satisfaction butalso the company led to monitor their competitor’s performance in their areasof operations. • The Company should make changes according to the other competitors &according to the customer’s expectations.LIMITATIONSLIMITATIONS OF STUDY:Though the research was conducted properly, the probability of errors & biases kept isminimum; still some errors occurred because of certain limitation.These are as follows:-a) A very short span of time for research.
  21. 21. b) This is time-consuming research method & the respondents did not have sufficient time forgiving information for such type of research.c) People were reluctant to give responses for such type of research.d) People also did not give proper response for Questionnaire & interview, because of short time.I have honestly and sincerely tried to present the facts and figures but some error still might havecropped up.FINDINGSIt is observed that1. The prospective segment is from the business and self employed class.2. Hyundai should continue to maintain the standard of the service.3. It is observed that, 42% of the respondent are of opinion that vehicles are as per expectation,and 20% are saying its below expectation.4. Company should improve its post sales service.5. The customer highest priority is for the mileage.6. Hyundai needs to improve its awareness about Add-on-Services.7. Customer are highly satisfied with the service which help in customer retention8. It is observed that, 46% of the customers are of opinion that Hyundai should improve inquality, and 16% of the opinion that Hyundai should improve in price.9. Customers are highly satisfied which help in customer retention.10. Company has created goodwill among the customers which will help them to recommend carto friends and relatives.BIBLIOGRAPHY1. Marketing Management by Philip Kotler, the millennium edition2. Research Methodology-C.R. Kothari.2ndedition3. Website visited –www.hyundai.comwww.automotive.comwww.gaddi.com4. Newspaper-business standards, Dainak Gajran, Times of India, etc.
  22. 22. QUESTIONNAIRENAME………………………….ADDRESS…………………………CONTACT NO…………………………..1. Which Model of Hyundai are you using?Car:-……………………………2. How many years you are using this model?a) 0-2 years b) 2-3 yearsc) 3-4 years d) 4-5 years3. Preference for choosing particular car?a) Comfort b) Mileagec) Feature d) Performancee) Looks f) Priceg) Others Please specify:-………4. Are you satisfied with your car?a) Yesb) NoIf No, give the reasons for the same
  23. 23. a) Comfort b) Mileagec) Feature d) Performancee) Looks f) Price5. Are you satisfied with the free accessories provided by the company? a) Yes b) No6. Do you prefer Hyundai-Insurance over any other insurance option? a) Yes b) NoIf No, then why:-……………….7. What is your Post-sales experience after purchasing the car?a) Excellent b) Goodc) Average d) Below Average8. Did you receive any intimation through calls or letters for the “service due” date to get yourvehicle serviced?a) Yesb) No9. Do you find easy availability of spare parts?a) Yesb) No10. Are you satisfied with the overall service of Hyundai?a) Excellent b) Goodc) Average d) Below Average11. Would you like to recommend the Hyundai car to your friends/relatives?a) Yesb) No
  24. 24. 12. In which sector do you think/feel Hyundai should improve?a) Price b) Qualityc) Service d) Others13. Would you like to re purchase the Hyundai’s car?a) Yesb) No

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