A study of brand preference and buying pattern

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A study of brand preference and buying pattern

  1. 1. Internship Report A STUDY OF BRAND PREFERNCE AND BUYING PATTERN AT ARJUN MOTORS, MYSORE Submitted By SANDEEP.F USN: 4MH12MBA38 Submitted to Visvesvaraya Technological University – Belgaum In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION Under the Guidance of INTERNAL GUIDE EXTERNAL GUIDE Mr. SHYAM. B.R MR. MUKESH N Research Scholar Sales Manager Assistant Professor Arjun Motors Deptartment of MBA Mysore Maharaja Institute of Technology – Mysore (Affiliated to VTU – Belgaum, Approved by AICTE, New Delhi& Recognized by Govt of Karnataka) Department Of Post Graduate Studies In Management Sciences (2012 – 2014)
  2. 2. DECLARATION I, Sandeep.F, hereby declare that the Internship report entitled “A Study of Brand Preference and Buying Pattern at Arjun motors, Mysore” prepared by me under the guidance of Mr.Shyam.B.R, Research Scholar, Assistant Professor of M.B.A Department, Maharaja Institute Of Technology, Mysore and external assistance by Mr.Mukesh N, Arjun motors, Mysore. I also declare that this Internship work is towards the partial fulfillment of the university regulations for the award of degree of Master of Business Administration by Visvesvaraya Technological University, Belgaum. I have undergone a summer project for a period of Twelve weeks. I further declare that this project is based on the original study undertaken by me and has not been submitted for the award of any degree/diploma from any other University/Institution. Place: Mysore Sandeep.F Date: (4MH12MBA38)
  3. 3. ACKNOWLEDGEMENT With glorious veneration and intense gratitude, I place my sincere thanks to Mr. Shyam.B.R, Research Scholar, Assistant Professor, Department of Post Graduate Studies In Management Sciences, Maharaja Institute of Technology – Mysore for valuable guidelines and timely advice to undergo my project work. I express my gratitude and sincere thanks to my external guide Mr.Mukesh N, Arjun motors, Mysore for the fullest cooperation in every stage of the project work. I take this opportunity to express my sincere thanks to Dr. Satyanarayana, Professor and HOD Department of Post Graduate Studies in Management Science, Maharaja Institute of Technology – Mysore. I express my gratitude and sincere thanks to secretary, Prof, Y T Krishnegowda Mentor, Dept of MBA and Dr. B G Naresh kumar Principal, Maharaja Institute of Technology Mysore, for their kind help and encouragement during the preparation of this project report. I express my gratitude and sincere thanks to my Parents and friends for their kind cooperation and support who have immensely assisted me to complete this project report. Date: SANDEEP.F Place: Mysore (4MH12MBA38)
  4. 4. CONTENTS SL.NO CHAPTERS TITLE PAGE NO 1 CHAPTER 1 INTRODUCTION 2-7 a. Introduction about the internship b. Topic chosen for study c. Need for the study d. Objectives of the study e. Scope of the study f. Methodology adopted g. Literature review h. Limitation of the study 2 CHAPTER 2 INDUSTRYPROFILE AND COMPANY PROFILE 8-21 a. Industry Profile b. Company Profile c. Dealer Profile d. Vision , mission and quality policy e. Product or service profile f. Areas of operation g. Infrastructure facilities h. Competitors information i. SWOT analysis j. Future growth and prospects k. Financial statement 3 CHAPTER 3 THEORETICAL BACKGROUND OF THE STUDY 22-33 4 CHAPTER 4 DATA ANALYSIS AND INTERPRETATION RESULTS 34-53 5 CHAPTER 5 SUMMARY OF FINDINGS 53-57 CONCLUSION AND SUGGESTION RECOMMENDATION 6 ANNEXURE 58-61 7 BIBLIOGRAPHY 62
  5. 5. LIST OF EXHIBIT/FIGURE/GRAPH Exhibit, Figure & Graph no Name of Exhibit, Figure & Graph Page No 2.5 Exhibit showing the Overview of the company 14-15 2.15 Exhibit showing the analysis of financial statement 20-21 4.1 Chart shows the detail of age group 34 4.2 Chart shows the detail of education qualification 35 4.3 Exhibit shows the detail of monthly income of the family 36 4.4 Chart shows the Medium of Communication that influences the Brand Preference 37 4.5 Exhibit shows the reason for preferring Yamaha Brand 38 4.6 Chart shows the percentage of product features 39-40 4.7 Exhibit shows the role of availability in selection of the brand 41 4.8 Exhibit shows the trust level of Yamaha brand 42 4.9 Chart shows the duration of using Yamaha bike 43 4.10 Chart shows the respondent level of promoting Yamaha brand to others 44 4.11 Exhibit shows the mode of purchase 45 4.12 Exhibit shows major role player in decision making in purchasing the bike 46 4.13 Exhibit showing the percentage of showroom attributes 47-48
  6. 6. 4.14 Chart showing the percentage of satisfaction 49-50 4.15 Chart shows the need for buying the bike 51 4.16 Exhibit shows the respondents level of recommendation to others 52 4.17 Chart shows the overall satisfaction of Yamaha bike 53
  7. 7. Page 1 Executive Summary This study was conducted with a view to figure out Brand Preference and Buying pattern at Arjun motors in Mysore and also to find out the customer‟s Brand preferences with respect to two wheelers and their brands. Brand Preference is the measure of Brand Loyalty in which a consumer will choose a particular brand in presence of competing brands, but will accept substitutes if that brand is not available. The study titled “A study of Brand Preference and Buying pattern at Arjun motors” is aimed to analysis and interprets the strengths and weakness of the company. The research methodology used in project is descriptive research. It is used to find the facts of the company. Tools used in project are questionnaires and interview method. The major findings of study includes – customers are satisfied with Yamaha bikes and also service offered at Arjun motors and also Yamaha should try to enhance its brand visibility to attract prospective customers and focus on mileage, power and style in its ad campaigns to attract its target customers. It is also seen that Yamaha is focusing on the Premium segment of bikes which is slated to welcome new players. Yamaha would have to constantly innovate and come up with new products to maintain its dominance in the segment.
  8. 8. Page 2 Introduction: Brand Preference is the measure of Brand Loyalty in which a consumer will choose a particular brand in presence of competing brands, but will accept substitutes if that brand is not available. Brand Loyalty refers to the extent of the faithfulness of consumers to a particular brand, expressed through their repeat purchases, irrespective of the marketing pressure generated by the competing brands. In every product category, consumers have more choices, more information and higher expectations than ever before. To move consumers from trial to preference, brands need to deliver on their value proposition, as well as dislodge someone else from the consumer's existing preference set. Preference is a scale, and brands move up, down and even off that scale with and without a vigilant brand management strategy. Pricing, promotional deals and product availability all have tremendous impact on the position of brand in the consumer‟s preference set. If all things are equal, the best defense is to make the brand more relevant to consumers than the competition. The brands potential can only be fulfilled by continually reinforcing its perceived quality, Up market identity and relevance to the consumer. The same branding activities that drive awareness also drive preference. And, while awareness alone will not sustain preference, it will improve the brand‟s potential for building and maintaining preference. With a great story and a large enough investment, awareness can be attained rather quickly. It takes time, however, and constant revaluation to build brand preference. Aristotle professed, “We are what we repeatedly do. Excellence then is not an act, but a habit.” Attaining and sustaining preference is an important step on the road to gaining brand loyalty. The ability to generate more revenue, gain greater market share and beat off the competition is the reward given by consumer toward particular brand. Brand preference is the Selective demand for a company's brand rather than a product the degree to which consumers prefer one brand over another. In an attempt to build brand preference advertising, the advertising must persuade a target audience to consider the advantages of a brand, often by building its reputation as a long-established and trusted name in the industry. If the advertising is successful, the target customer will choose the particular brand over other brands in any category.
  9. 9. Page 3 The frequency of repeat purchase in case of two wheeler market is very low. So, the measure of Loyalty is not easy. The brand loyalty of the customer can be identified with the help of how they promote the brand to others, i.e. Word of Mouth Communication. Even though competitors are low in the two wheeler‟s segment, competition is very high due to the availability of different product categories under different brands. The Customers preference among these brands also not easy as the product possesses similar features in all the brands. So, the customer satisfaction determines the loyalty. Customer will get satisfied only when their expectations met or exceed. It is an after purchase behavior. To analyze the Brand Preference and Loyalty, it is necessary to study both the consumer‟s buying behaviour and after purchase behavior Problem Statement: A variety of setting, environments, motivations and factors influence the people‟s preference to buy a certain brand of Yamaha bikes. Hence, it is increasingly important for. markets to understand how brand preferences and buying pattern change across people. So, this study is undertaken to understand how brand preferences and consumption pattern of Yamaha bikes at Arjun motors, Mysore. Need for the study:  The first and foremost need for this study is due to the increasing brand variety in the two wheeler‟s market which is eroding the Brand Loyalty of the customers.  The increasing media clutter and the changing consumer preferences.  The more number of split loyal and shifting loyal customers are available in the market.  Brand Loyalty of a customer is influenced by the customer‟s perceived value which is the basic belief results in the action. So, to analyze the preference of brand and to find the factors influencing the Brand Preference of the customer in the two-wheeler segment. Objectives of the study:  To study the factors influencing brand preference of Yamaha bikes among buyers.  To measure the Brand Loyalty of Yamaha bikes.
  10. 10. Page 4  To study the effect of demographic variables on specific brand choice.  To suggest factors to retain the customers. Scope of the study:  The study is only on Brand Preference so the other aspects such as Brand Recognition, Brand Image, Brand Equity and other branding concepts are not covered.  Brand Loyalty, Perception and Buying Behaviour of respondents are also studied in this research.  This study covered only the area of the Mysore city. So, the information from the study are only relevant to this area alone.  Study covers the reasons of buying the Yamaha bikes. Methodology adopted Methodology refers to the step procedure or methods involved in the process of organizing the information. A Research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. A Research design could be defined as the blue print specifying every stage of action in the course of research. Such a design would indicate whether the course of action planned will minimize the use of resources and maximize the outcome. Descriptive Research Design: The Research design used in this study was Descriptive Research Design. Descriptive studies come under formal research, where the objectives are clearly established. It is concerned with the research studies with a focus on the portrayal of the characteristics of a group or Individual or a situation. The main objective of this type of study is to acquire knowledge. Sample Design: A Sample Design is a definite plan for obtaining a sample from a give population. It refers to the technique or the procedure the researcher would adopt in selecting items for the sample. The sampling technique which was used in this research was Systematic Random Sampling. Sample Size: 50 respondents.
  11. 11. Page 5 Sample Area: Mysore City Source of Data Primary Data: Primary data is known as the data collected for the first time through field survey. The important source for the primary data collection is through Questionnaire and other source is through Sales force opinion. Secondary Data Secondary data refers to the information or facts already collected. Such data are collected with the objective of understanding the past status of any variable. Secondary sources include the following. ➢ Books ➢ Journals ➢ Internet Tools of Data Collection: The primary tool which was used for data collection was Questionnaire. It was a Structured Questionnaire which consists of series of questions related to the objective of the study. Literature review: It is widely acknowledged amongst both practitioners and academics that branding has become a tool of strategic importance. Various definitions of branding appear in literature. The American Marketing Association (1994) defines a brand as a “name, term, sign, symbol or design, or a combination of them intended to encourage prospective customers to differentiate a producer‟s product (s) from those of competitors”. A primary function of the brand is to provide convenience and clarity in decision making by providing a guarantee of performance and communicating a set of expectations thereby offering certainty and facilitating the buying process. On the emotional side, the function of a brand is to evoke a set of associations and furthermore symbolize the consumer‟s persona through brand imagery. However, this and other definitions of a brand fail to capture the essence of what branding involves or achieves (Marketing in a Global Economy Proceedings, 2000). In order to be
  12. 12. Page 6 successful, images and symbols must relate to and indeed exploit the needs, values and lifestyles of consumers in such a way that the meanings involved give added values, and differentiate the brand from other brands (Broadbent and Cooper, 1987). In its totality, a brand can be described as a “trademark that communicates a promise (Phillips, 1988). This promise involves a set of symbolic and functional attributes that the market place associates with the brand. Symbolic attributes are those that fulfill internally generated needs for self-enhancement, role position, group membership or ego identification (Park et al., 1996) whereas functional brand attributes solve an externally generated consumption related problem. Ambler and Styles (1996) describe two different views of defining a brand. The first is the product plus view, when the brand is seen as an addition to the product, and in this view a brand is also called an identifier. The second is the holistic view that communicates the focus on the brand itself that is considered to be much more than just the product. The brand is said to be the sum total of all elements of the marketing mix. Brands can also be explained based on their elements-“those trademarkable devices that serve to identify and differentiate the brand (ego, brand names, logos, symbols, characters, slogans, jingles and packages (Keller, 2002) DeChernatony and MacDonald (1998) in an attempt to emphasize the increased value that accrues to the consumer by buying the established brand rather than a generic or commodity product, offer the following definition of a brand: “A successful brand is an identifiable product, service, person or place, augmented in such a way that the buyer or user perceives relevant, unique added values which match their needs most closely. Furthermore, its success results from being able to sustain those added values in the face of competition”. Some people distinguish the psychological aspect of a brand from the experiential aspect. The experiential aspect consists of the sum of all points of contact with the brand and is known as the brand experience. The psychological aspect, sometimes referred to as the brand image, is a symbolic construct created within the minds of people and consists of all the information and expectations associated with a product or service. People engaged in branding seek to develop or align the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique. A brand is therefore one of
  13. 13. Page 7 the most valuable elements in an advertising theme, as it demonstrates what the brand owner is able to offer in the marketplace. The art of creating and maintaining a brand is called brand management whereas orientation of the whole organization towards its brand is called brand orientation. Careful brand management seeks to make the product or services relevant to the target audience. Brands should be seen as more than the difference between the actual cost of a product and its selling price - they represent the sum of all valuable qualities of a product to the consumer. There are many intangibles involved in business, intangibles left wholly from the income statement and balance sheet which determine how a business is perceived. The learned skill of a knowledge worker, the type of mental working, the type of stitch: all may be without an 'accounting cost' but for those who truly know the product, for it is these people the company should wish to find and keep, the difference is incomparable. A brand which is widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it is said to have achieved brand franchise. One goal in brand recognition is the identification of a brand without the name of the company present. Consumers may look on branding as an important value added aspect of products or services, as it often serves to denote a certain attractive quality or characteristic (see also brand promise). From the perspective of brand owners, branded products or services also command higher prices. Where two products resemble each other, but one of the products has no associated branding (such as a generic, store-branded product), people may often select the more expensive branded product on the basis of the quality of the brand or the reputation of the brand owner. Limitations of the study:  The duration of the project was one of the primary constraints for the project.  This study is confined only among the Yamaha customers in the Mysore city.  It was an academic effort and limited to cost, time and geographical area.  Numbers of respondents were restricted due to the time factor.
  14. 14. Page 8 2.1 INDUSTRY PROFILE: History of Two Wheeler Industry: India is the second largest manufacturer and producer of two wheelers in the world. It stands next only to Japan and China in terms of the number of two wheelers produced and domestic sales respectively. The distinction was achieved due to variety of reasons like respective policy followed by Government of India towards the passenger car industry, rising demand for personal transport, inefficiency in the public transportation system etc. Invention of Two- Wheelers History can't be stored or categorized in a water tight compartment; neither can some things be definitely told or strictly defined. In this section a general history of two-wheelers is being traced without trying to venture into strict classification and differentiation. Around 1840 a Scotsman named Kirpatrick Macmillan came up with an idea of a pedal driven bicycle, Macmillan a blacksmith by profession got the idea when he was asked to repair a hobby horse. The first bicycle which its inventor called velocipede slowly started catching the fancy of the people, as inquisitive minds started thinking of faster ways of getting around the town. Ind 1868 in France MIchaux-Perraux attached a small steam engine to a bicycle thus adding a little more steam to the development. Around the same time across the Atlantic a similar steam propelled machine was demonstrated by built by Sylvester Howard Roper of Roxbury, Massachusetts. However the invention of the first motorcycle was done by the German inventors ottlieb Daimler and Wilhelm Maybach in 1885. The first petroleum-powered vehicle, it was essentially a motorized bicycle, although the inventors called their invention the Reitwagen ('riding car'). This engine was prepared more for experimentation rather than for commercial purposes. However as early as 1894 a motorcycle was available for commercial purposes. The bike named Hildebrand and Wolfmuller was manufactured in a small scale few hundreds to be precise. These two wheelers died a natural death due to high cost and technical difficulties Slowly the motorcycles were improved upon and soon they become faster, reliable and more fuel efficient. For a separate history on the development of scooters check out origin of scooters
  15. 15. Page 9 The Two Wheeler Market Globally: The two-wheeler industry is concentrated in the developing world, especially China and India, which together account for over half the total worldwide sales of two-wheelers. The Japanese manufacturers, Honda, Yamaha, Suzuki and Kawasaki, dominate the two-wheeler industry globally. Currently, all major two wheeler markets, except India, are dominated either by Japanese firms or their joint ventures. Hero Honda Motor Cycles Limited, an Indian motorcycle company is the world leader by sales .Motorcycles are used for many different purposes. Some use it for daily commuting (especially in developing and under-developed worlds) and for hobby pursuits (in developed world). Harley Davidson, Royal Enfield, BMW, Yamaha etc are the companies this hobby pursuit of the people, the world over. Two Wheeler Market: The Indian Scenario: The Indian two-wheeler industry can be divided into three broad categories: scooter, motorcycles and mopeds. Each of these categories can be further segmented on the basis of several variables, like price, engine power, type of ignition, and engine capacity. Today, India is the second largest producer and customer of two-wheelers in the world. The Indian two-wheeler industry has undergone a significant change over the past 10 years with the preference changing from mopeds to scooters, and more recently, from scooters to motorcycles. With the reduction in the price differential between scooters and motorcycles, there has been a perceptible shift towards motorcycles because of their better styling, higher fuel efficiency, and higher load carrying capacity. of late, scooters have made a resurgence. Honda Motors and Scooters India Limited is the market leader in the scooter segment. Also female centric two-wheelers like Pep have gained major portion of the market. In 1955, the Indian government needed sturdy and reliable motorcycles for its Army and police to patrol the rugged border highways. The first batch of 350cc Bullet from the Royal Enfield Company of UK were received and assembled at Chennai. Bajaj Auto began trading in imported Vespa scooters and three wheelers. Finally in 1960, it set up a shop to manufacture then in collaboration with Piaggio of Italy. The agreement expired in 1971.
  16. 16. Page 10 In the initial stages, the scooter segment was dominated by API, it was later overtaken by Bajaj Auto. Although various government and private enterprise entered the fray for scooters, the only new player that has lasted till today is LML. Under the regulated regime, foreign companies were not allowed to operate in India. It was a complete seller market with the waiting period for getting a scooter from Bajaj Auto being as high as 12 years The motorcycles segment was no different, with only three manufactures viz Enfield, Ideal Jawa and Escorts .While Enfield bullet was a four stroke bike, Jawa and the Rajdoot were two stroke bikes. The motorcycle segment was initially dominated by Enfield 350 cc bikes and Escorts 175 cc bike. The two wheeler market was opened to foreign competion in the mid -80s.And then the market leaders Escorts and Enfield were caught unaware by the onslaught of the 100 cc bikes of the four Indo –Japanese joint ventures. With the availability of fuel –efficient low power bike, demand swelled, resulting in Hero Honda then only producer for four stroke bikes (100 cc category), gaining top slot. The first Japanese motorcycles were introduced in the early eighties. TVS Suzuki and Hero Honda brought in the first two stroke and four stroke engine motorcycles respectively. These two players initially started with assembly of CKD kits, and later on progressed to indigenous manufacturing. In the 90s the major growth of motorcycles segment was brought in Japanese motorcycles, which grew at a rate of nearly 25% in the last five years. The industry had a smooth ride in the 50s,60s and 70s when the government prohibited new entries and strictly controlled capacity expansion. The industry saw a sudden growth in the 80s. The industry witnessed a steady growth of 14% leading to peak volume of 1.9mn vehicles in 1990. The entry of Kinetic Honda in mid –eighties with a variometric scooter helped in providing ease of use to the scooter owners. This helped in inducing youngsters and working women towards buying scooters, who were earlier inclined towards moped purchase. In the 90s ,this trend was reversed with the introduction of Scooterette. In the line with this, the scooter segment has constiently lost its part of the market share in the two wheeler market.
  17. 17. Page 11 In 1990s, the entire automobile industry saw a drastic fall in demand. This resulted in a decline of 15% in 1991 and 8% in 1992, resulting in a production loss of 0.4 mn vehicles. Barring loss due to increase rise in fuel prices, high input cost and reduced purchasing power due to significant rise in general price level and credit crunch in consumer financing .factors like increased production in 1992,due to new entrants coupled with the recession in the industry resulted in companies either reporting losses or fall in profits. Rise of a Product: The Motorcycles: Motorcycles are the most expensive of all two-wheelers. They are more powerful than scooters and mopeds, have the highest load carrying capacity (which is essential for rural areas), are fuel- efficient, have better road grip, and are also the most expensive. Besides, motorcycles are viewed as “trendy” in the urban areas as compared with scooters and mopeds. The fortunes of the motorcycle industry changed after the announcement of the liberal licensingpolicyin1982 where by foreign collaboration were allowed. In 1982, the Government allowed foreign players to enter the industry through joint ventures. Within four years, the TVS Group tied up with Suzuki, the Hero Group with Honda, the Escorts group with Yamaha and Bajaj Auto Limited (Bajaj Auto) with Kawasaki. TVS & Suzuki introduced Ind-Suzuki in 1984, Hero Honda Motors Limited (HHML) launched CD100 in 1985, and both Escorts and Bajaj Auto launched their models in 1986-1987. Also, new entrants have entered the market by introducing their products at lower price points, while the existing players have announced price cuts. This has led to price competition in the domestic market.
  18. 18. Page 12 2.2 Company Profile: India Yamaha Motor Private Limited Yamaha made its initial foray into India in 1985. In August 2001, Yamaha India became a 100% subsidiary of Yamaha Motor Co., Ltd, Japan (YMC). In 2008, Mitsui & Co., Ltd. entered into an agreement with YMC to become a joint-investor in the motorcycle manufacturing company "India Yamaha Motor Private Limited (IYM)". IYM's manufacturing facilities comprise of 2 State-of-the-art Plants at Faridabad (Haryana) and Surajpur (Uttar Pradesh). The infrastructure at both the plants supports production of motorcycles and parts for the domestic as well as overseas markets. The Surajpur plant was established in 1984. The state–of-the-art Assembly plant at Surajpur was inaugurated on 6th July‟09 and is spread over an area of 36,000 sq. mts. It has the capacity to produce 1 million motorcycles and scooters annually. This fully integrated assembly plant is built on the lines of Yamaha‟s globally tried, tested and successfully implemented standards and meets the global quality benchmarks. The plant has 3 vehicle assembly lines and 4 engine assembly lines. The Faridabad Plant was established in 1965 and was upgraded in 2008 for manufacturing of machined parts like Gears & shafts, Crank, Clutch Assembly, Crank Case, Body Cylinder, Head Cylinder. In April 2013, IYM established 2 functionally independent entities namely Yamaha Motor India Sales Pvt. Ltd. (YMIS) that will cater to the sales and marketing needs of the company and Yamaha Motor Research and Development India Pvt. Ltd. (YMRI) that is intended to increase Yamaha‟s manufacturing competitiveness through the establishment of an R&D headquarters in India. With a strong workforce of more than 2,000 employees, IYM is highly customer-driven and has a countrywide network of over 400 dealers In April 2013, India Yamaha Motor established a functionally independent sales and marketing entity i.e. Yamaha Motor India Sales Pvt. Ltd (YMIS). The newly formed Yamaha Motor India Sales Pvt. Ltd. (YMIS) is intended to further strengthen the Sales & Marketing unit which is responsible for sales & promotion, after sales service and provision of spare parts. It has been Yamaha‟s constant endeavor to fortify its brand image and supersede customer expectation. YMIS will continue to reinforce its
  19. 19. Page 13 relationship with the customers with its „YES! YAMAHA! Campaign which emphasizes on providing the Best 3S Experience – Sales, Service and Spare Parts so that the customer always appreciates Yamaha and accepts the brand like the word “YES”. About Yamaha Motor Research and Development India Pvt. Ltd: Yamaha Motor Research and Development India Pvt. Ltd. (YMRI) has been established to function as the motorcycle R&D headquarters for Yamaha Motor Co., Japan. This initiative is intended to reinforce the global competitiveness of Yamaha‟s engineering, manufacturing and marketing functions in India. It was formally established on 18th February 2013 and has been functional since 1st Apr 2013. It is currently operating from the headquarters of India Yamaha Motor Pvt. Ltd., Surajpur. . YMRI is the fifth overseas R&D headquarters for Yamaha Motor Group following Italy, Taiwan, China, and Thailand. Yamaha Motor Research and Development India Pvt. Ltd. (YMRI) functions as the core of the Integrated Development Center (IDC) concept. In addition to R&D activities, global part sourcing activities have been included into the IDC. The 1st such center was established as ASEAN Integrated Development Center in Thailand in 2012. YMRI will contribute to Yamaha global operations by focusing on optimum utilization of Indian resources and developing new models best suited to Indian customer requirements. 2.3 Vision: We will establish YAMAHA as the "exclusive & trusted brand" of customers by "creating Kando" (touching their hearts) - the first time and every time with world class products & services delivered by people having "passion for customers". 2.4 Mission We are committed to: Be the Exclusive & Trusted Brand renowned for marketing and manufacturing of YAMAHA products, focusing on serving our customer where we can build long term relationships by raising their lifestyle through performance excellence, proactive design & innovative
  20. 20. Page 14 technology. Our innovative solutions will always exceed the changing needs of our customers and provide value added vehicles. Build the Winning Team with capabilities for success, thriving in a climate for action and delivering results. Our employees are the most valuable assets and we intend to develop them to achieve international level of professionalism with progressive career development. As a good corporate citizen, we will conduct our business ethically and socially in a responsible manner with concerns for the environment. Grow through continuously innovating our business processes for creating value and knowledge across our customers thereby earning the loyalty of our partners & increasing our stakeholder value. Core Competencies: Customer #1 We put customers first in everything we do. We take decisions keeping the customer in mind. Challenging Spirit We strive for excellence in everything we do and in the quality of goods & services we provide. We work hard to achieve what we commit & achieve results faster than our competitors and we never give up. Team-work We work cohesively with our colleagues as a multi-cultural team built on trust, respect, understanding & mutual co-operation. Everyone's contribution is equally important for our success. Frank & Fair Organization We are honest, sincere, open minded, fair & transparent in our dealings. We actively listen to others and participate in healthy & frank discussions to achieve the organization's goals. Exhibit 2.5: Overview Company Name Yamaha Motor Co.,Ltd Founded July 1, 1995 Capital 85,703 million yen (as of December 31, 2013) President Hiroyuki Yanagi Headquarters 2500 Shingai, Iwata-shi, Shizuoka-ken, Japan
  21. 21. Page 15 Sales Profile Sales (%) by product category (consolidated) Sales (%) by region (consolidated) 2.6 Dealer Profile: Arjun Motors, a true Yamaha Showroom and a place with inheriting essence of rich heritage and culture of Mysore. Arjun Motors boasts of an exuberant team taking care of colts of envy! Mr.Arjun a young and energetic dynamic entrepreneur is the driving force of the organization and his consolidated efforts call it as passion and he has made the company one of the best Yamaha dealers in Mysore city in a very short span of time. Since its inceptions in Jan 2011, there is a constant endeavor to be the best business and services with the values added to our biking customers Arjun Motors strongly believes in providing the best Sales Service and Spare parts under one roof. With a strong dedicated team of Sales and Service engineers. Arum Motors targets the fulfillment of customer needs. Every single customer matters to us. Together we operate in tandem in serve our customer and forge an everlasting found with them 2.7 Vision .Mission And Quality Policy Employees (Consolidated) Sales (Consolidated) 53,382 (as of December 31, 2013) Parent: 10,245(as of December 31, 2013) 410,472 million yen (from January 1, 2013 to December 2013) Parent: 536,966 million yen (from January 1, 2013 to December 31, 2013)
  22. 22. Page 16 Vision : To be a respected corporation and leader in Indian automobile business in quality, productivity, profitability and customer satisfaction of after sale service. Mission: To sell qualitative automobile and service as per the demand and go into the Indian market to achieve customer delighters through professional system and prospective in every field giving due weight age for the development of human resources in the organization .to advance the firm with latest technology and to become leader in the field and ultimately to become one of the best two wheeler dealers in market. Quality policy: The quality policy of the company is to “Provide products and services which consistently meet the rigorous of our most demanding customer”.  Excellent in the product and service.  Guaranteed consistency.  Continuous improvement.  Safety for consumers, colleagues and the community. 2.8 Products/Services: Yamaha has made number of motorcycles and scooters. Motorcycles in current trend are Yamaha YZF R15,Yamaha Fazer, Yamaha FZ, Yamaha FZ-S, Yamaha YBR 125, Yamaha YBR 110, Yamaha Crux, Yamaha SZ-R, Yamaha Ray Z 113. 2.9 Services Profile: As an authorized dealer of YAMAHA bikes we are with a standard in house service centre with well qualified and professional service engineers who are capable of addressing all technical problems related to Yamaha bikes, Even our principle company has appreciated our service centre and the way in which we address the customer problems. We provide on time services with the company warranty and guaranty Customers give their bike to showroom for service. In that service time showroom has provided the „Snookers‟ game to customer.
  23. 23. Page 17 2.10 Area of operation: Area of operation can be divided under three heads. They can be regional-wise, national-wise and globally. Area of operation can be called as regional, when the company functions within in the state .area of operation can be called as national, when the companies function in the state as well as within the nation. Area of operation can be called as global, when it functions outside the country .Arjun motors it has well established showroom in Karnataka Mysore region .the particular region is having many residential and commercial areas and is also booming with the starting of the New National airports and it is one of the world famous tourist and cultural city. Hence this region is prone to very high level of growth and is going in for expansion is highly viable for Yamaha showroom 2.11 Infrastructure facilities: We offer state-of-the-art facilities for all your two wheeler needs. From the latest computerized machines, pneumatically controlled equipment and experienced & trained personnel, we ensure the very best of services for you. An overview of our facilities  Showroom spread across 4500 sq.ft.  Modern Workshop spread across 4500 sq.ft.  More than 15 trained technicians  State-of-the-art equipment 2.12 Competitor’s information: Competition is one of the predominate role in the business world. The scope, strength capability and capacity between competitors in a particular product are different and varied in nature .a healthy competition is required in business for quality and standard products and services or desired in a market Key Competitors:  Bajaj Auto Ltd  Hero Motocorp  Tvs motor company  Honda  Suzuki
  24. 24. Page 18 2.13 SWOT ANALYSIS: SWOT analysis is the technique, which is used for identifying the company Strength, Weakness, Opportunity and threats. SWOT analysis not only result in the identification of a corporation‟s distinctive competencies, the particular capabilities and resources that a firm possesses and the superior way in which they are used. But also in the identification of opportunities, the firm is not currently able to take advantage due to a lack of appropriate proven to be the most enduring analytical technique used in strategic management. This reflects an important issue facing strategic managers should we invest more in our Strength‟s to make them even stronger or should we invest in our weakness to make them competitive. A. Strengths 1. Yamaha is an innovator of new ideas and products. 2. They were the first to come up with the 4-stroke engine. 3. Yamaha has competitive pricing. 4. Yamaha is constantly trying to bring technology into their motorcycles. 5. Yamaha is socially responsible so a lot of people want to buy their products because they do more then try to make money they try to make a difference. In return they make good profits. B. Weaknesses 1. Yamaha has a lot of competition. 2. The competition s trying to figure out the next best thing also. 3. The economy is a big weakness because people may not have as much money to spend on Yamaha products. 4. Not giving promotional schemes for longer time periods. C. Opportunities 1. The motorcycle market has been growing at a phenomenal rate and there has been a shift in the customer preferences from 2 stroke bikes. Yamaha motors have recognized this and bringing out new models in 4 stroke bikes quite regularly to cater needs of the customers.
  25. 25. Page 19 2. Consumers have become technology conscious and Yamaha motors have best R&D facilities. So they can tap new customers with innovative technology in motorcycle design and manufacturing. 3. Growth due to taking on more shares of stock. D. Threats 1. Constant demand for price reduction from customers. 2. Technology costs a lot of money and consumers want technology without paying for it. 3. Bajaj auto and TVS have taken large part of market share from Yamaha. 4. Growing competition in industry, both in terms of new models and price undercutting, too is a matter of concern as both the sales realization and operation margins may come under pressure 5. Technology costing more money. 2.14 Future growth and prospects: Japanese two-wheeler maker Yamaha, better known for its performance bikes, is turning to fuel efficient technologies for the Indian market as it eyes a bigger share in the country's two-wheeler segment. As it tweaks its strategy of focusing on 'performance' to 'performance with mileage', the company plans to introduce fuel efficient technologies in its upcoming launches as well as upgrades of its existing models. Yamaha, which sells various bike, including Fazer, FZ, YZF R15 and scooters Ray, Ray Z and Alpha in India, has been strong in the performance segment of 150cc and above. In 2013 14, the company sold a total of 3,07,511 units of motorcycles. It is looking to garner a significant share in the country's bike market, which stood at 1,04,79,817 units last fiscal. In the scooters segment, it sold 1,76,981 units, when the total scooter market was pegged at 36,02,744 units in 2013-14. In order to keep with its growth plans, the company is setting up a Rs 1,500-crore plant in Chennai, where it plans to start manufacturing from next year with an initial capacity of 4.5 units per annum. On full operationalisation, it would have an installed capacity of 18 lakh units by 2018.
  26. 26. Page 20 Exhibit 2.15 Analysis of Financial Statement: AS ON 31st March 2014 Rs. In Millions Particulars As of Dec 13 As of Mar14 Assets Current assets Cash and deposits 119,859 118,443 Notes and accounts receivable-trade 238,102 270,176 Merchandise and Finished goods 117,796 183,801 Work in progress 45,531 45,450 Raw materials and supplies 48,217 48,171 Other 83,519 89,290 Allowance and doubtful accounts (9,512) (10,166) Total current assets 703,514 745,168 Non-current assets: Property, plant and equipment 301,109 303,333 Intangible assets 6,791 6,498 Investments and other assets: Investment and other assets 136,687 131,827 Allowance for doubtful accounts (1,510) (1,576) Total investment and other assets 135,176 130,250 Total non-current assets 443,077 440,082 Total assets 1,146,591 1,185,250 Liabilities Current liabilities: Notes and account payable-trade 141,710 150,870 Short- term loans payable 170,328 196,223 Current position for long-term loans payable 73,230 92,798 Provision for bonuses 10,277 16,296 Provision for product warranties 18,292 17,102 Other provision 1,609 1,601 Other 96,777 100,215 Total current liabilities 515,226 575,081 Non-current liabilities: Long-term loans payable 139,370 117,423 Provision for retirement benefits 45,321 45,393 Other provisions 1,358 1,273 Other 222,522 20,325 Total non-current liabilities 208,572 184,416 Total liabilities 723,799 759,498 Net assets
  27. 27. Page 21 Share holders’ equity Capital stock 85,703 85,703 Capital surplus 74,619 74,619 Retained earnings 288,547 297,621 Treasury shares (691) (692) Total share holders’ equity 448,179 457,251 Other accumulated comprehensive income: Valuation difference on available-for-sale securities 12,110 8,517 Revaluation reserve for land 10,978 10,931 Foreign currency translation adjustment (87,277) (87,876) Total other accumulated comprehensive income (64,188) (68,427) Subscription rights to shares 91 91 Minority interests 38,709 36,836 Total net assets 422,792 425,752 Total liabilities and net assets 1,146,591 1,185,250
  28. 28. Page 22 Introduction: Brand Preference is the measure of Brand Loyalty in which a consumer will choose a particular brand in presence of competing brands, but will accept substitutes if that brand is not available. Brand Loyalty refers to the extent of the faithfulness of consumers to a particular brand, expressed through their repeat purchases, irrespective of the marketing pressure generated by the competing brands. In every product category, consumers have more choices, more information and higher expectations than ever before. To move consumers from trial to preference, brands need to deliver on their value proposition, as well as dislodge someone else from the consumer's existing preference set. Preference is a scale, and brands move up, down and even off that scale with and without a vigilant brand management strategy. Pricing, promotional deals and product availability all have tremendous impact on the position of brand in the consumer‟s preference set. If all things are equal, the best defence is to make the brand more relevant to consumers than the competition. The brands potential can only be fulfilled by continually reinforcing its perceived quality, upmarket identity and relevance to the consumer. The same branding activities that drive awareness also drive preference. And, while awareness alone will not sustain preference, it will improve the brand‟s potential for building and maintaining preference. With a great story and a large enough investment, awareness can be attained rather quickly. It takes time, however, and constant revaluation to build brand preference. Aristotle professed, “We are what we repeatedly do. Excellence then is not an act, but a habit.” Attaining and sustaining preference is an important step on the road to gaining brand loyalty. The ability to generate more revenue, gain greater market share and beat off the competition is the reward given by consumer toward particular brand. Brand preference is the Selective demand for a company's brand rather than a product; the degree to which consumers prefer one brand over another. In an attempt to build brand preference advertising, the advertising must persuade a target audience to consider the advantages of a brand, often by building its reputation as a long-established and trusted name in the industry. If the advertising is successful, the target customer will choose the particular brand over other brands in any category. The frequency of repeat purchase in case of two
  29. 29. Page 23 wheeler market is very low. So, the measure of Loyalty is not easy. The brand loyalty of the customer can be identified with the help of how they promote the brand to others, i.e. Word of Mouth Communication. Even though competitors are low in the two wheeler‟s segment, competition is very high due to the availability of different product categories under different brands. The Customers preference among these brands also not easy as the product possesses similar features in all the brands. So, the customer satisfaction determines the loyalty. Customer will get satisfied only when their expectations met or exceed. It is an after purchase behavior. To analyze the Brand Preference and Loyalty, it is necessary to study both the consumer‟s buying behavior and after purchase behavior. Meaning: Selective demand for a company's brand rather than a product; the degree to which consumers prefer one brand over another. In an attempt to build brand preference advertising, the advertising must persuade a audience to consider the advantages of a brand, often by building its reputation as a long-established and trusted name in the industry. If the advertising is successful, the target customer will choose the brand over other brands in any category. Definition: What is Brand? In principles of Marketing (Philip Kotler/Gary Amstrong) a brand is defined as a "name, term, sign symbol (or a combination of these) that identifies the maker or seller of the product" A brand name helps an organization differentiate itself from its competitors. In today's competitive world customers expect products to have branding. Customers often build up a relationship with a brand that they trust and will regularly purchase products from that brand. Some people will only purchase a particular brand even though there are acceptable alternatives on the market. For example Apple Inc or UK retail chain John Lewis Partnership has a loyal customer base, who provide them with repeat business. Brand Equity: Brand equity” refers to the value of a brand. Brand equity is based on the extent to which the brand has high brand loyalty, name awareness, perceived quality and
  30. 30. Page 24 strong product associations. Brand equity also includes other “intangible” assets such as patents, trademarks and channel relationships Brand Image: “Brand image” refers to the set of beliefs that customers hold about a particular brand. These are important to develop well since a negative brand image can be very difficult to shake off. Brand Extension: “Brand extension” refers to the use of a successful brand name to launch a new or modified product in a new market. Virgin is perhaps the best example of how brand extension can be applied into quite diverse and distinct markets. Branding gives seller several advantages  Seller‟s brand name and trademark provide legal protection of unique product features  Branding gives the seller the opportunity to attract a loyal and profitable set of customers.  Branding helps the seller segment markets.  Strong brands help build corporate image, making it easier to launch new brands and gain acceptance by distributors and consumers Benefits of branding to a Buyer  Help buyers identify the product that they like/dislike.  Identify marketer  Helps reduce the time needed for purchase.  Helps buyers evaluate quality of products especially if unable to judge a products characteristics.  Helps reduce buyers perceived risk of purchase.  Buyer may derive a psychological reward from owning the brand, IE Rolex or Mercedes. Positioning:  Positioning is about the position a brand occupies in a market in the minds of consumers. Strong brands have a clear, often unique position in the target market.
  31. 31. Page 25  Positioning can be achieved through several means, including brand name, image, service standards, product guarantees, packaging and the way in which it is delivered. In fact, successful positioning usually requires a combination of these things. Repositioning: Repositioning occurs when a brand tries to change its market position to reflect a change in consumer‟s tastes. This is often required when a brand has become tired, perhaps because its original market has matured or has gone into decline. First-mover advantage: Business strategists often talk about first-mover advantage. In terms of brand development, by “first-mover” they mean that it is possible for the first successful brand in a market to create a clear positioning in the minds of target customers before the competition enters the market. There is plenty of evidence to support this. Types of branding Branding is an important marketing tool used to stimulate recognition. When a product, service, person or place is branded, it develops a personality and a reputation. A successful branding campaign results in a name, design, logo or other recognizable symbol that stands out among its competitors. 1. Product Products enjoy some of the most common types of branding. Walking through supermarket or retail store aisles is an easy way to understand product branding. Certain labels will jump off the shelves because they have achieved their marketing goals. Successful product branding is what nudges a consumer to choose one brand over another. The brand has established a reputation as the best or most popular in its class. Think of soft drinks, athletic shoes, computers or jeans and see what brand names pop into your head first. These are prime examples of product branding. 2. Personal Personal branding is a popular marketing tool among athletes, musicians, politicians and other celebrities. A politician will attempt to brand himself into the type of person the voters want to put in office. A celebrity often becomes self-branded based on his own personality,
  32. 32. Page 26 while others are molded by public relations firms and agents. In addition to a personal brand, a celebrity might become associated with products bearing his name. 3. Corporate Corporate branding is essential for any business that wants to develop a reputation in the marketplace. Everything the company does has an effect on its image. A corporation markets its product or service, its corporate culture, its employees and its contributions to the community. A corporation's branding can become tarnished overnight because of an industrial disaster or a poor decision by management. If the damage is severe, a corporation might start over with an entirely new strategy for branding a completely new image. 4. Geographic Geographic or regional branding conjures images of certain products or services when the name is mentioned. While the Southwest region of the U.S. might be known for spicy foods, the Midwest is known for steaks. The tourism industry uses branding to lure travelers to the area. Southern states boast their sunshine and beaches, while mountainous areas become known for winter sports such as skiing and snowboarding. 5. Cultural Cultural branding develops a reputation about the environment and people of a particular location or nationality. New Englanders are thought to be hard-working, and perhaps too serious, while New Yorkers are viewed as people always on the go and moving at a rapid-fire pace. Cultural branding is another tool in tourism such as inviting travelers to experience the Amish country Consumer Buying Behavior Consumer behavior as a body of knowledge emphasizes on the study of both physical activities and decision-making processes that occur in the process of search, evaluation, acquiring, use and disposal of products. Consumer behavior encompasses vast areas of human activities that have direct interface with technology. Borrowing heavily from diverse sweep and come in handy to adapt technology to everyday needs of society. Backed by abundant wealth of information on areas such as consumers‟ tastes, shopping habits, store patronage and life style, it has become possible for many marketing research firms to come up with reliably accurate work on many aspects of marketing including product demand forecast, perception of brand image, brand preference, brand loyalty and brand equity
  33. 33. Page 27 position. This approach to problems in marketing management seems to have been well established and therefore, is the popular means adopted in the area of consumer product whether it is physical product or services. Consumer behavior is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. Customer behaviour study is based on consumer buying behavior, with the customer playing the three distinct roles of user, payer and buyer. Relationship marketing is an influential asset for customer behaviour analysis as it has a keen interest in the re-discovery of the true meaning of marketing through the re-affirmation of the importance of the customer or buyer. A greater importance is also placed on consumer retention, customer relationship management, personalisation, customisation and one-to-one marketing. Social functions can be categorized into social choice and welfare functions. Each method for vote counting is assumed as social function but if Arrow‟s possibility theorem is used for a social function, social welfare function is achieved. Some specifications of the social functions are decisiveness, neutrality, anonymity, monotonicity, unanimity, homogeneity and weak and strong Pareto optimality. No social choice function meets these requirements in an ordinal scale simultaneously. The most important characteristic of a social function is identification of the interactive effect of alternatives and creating a logical relation with the ranks. Marketing provides services in order to satisfy customers. With that in mind, the productive system is considered from its beginning at the production level, to the end of the cycle, the consumer (Kioumarsi et al., 2009). Types of buying behavior: The following are the several types of buying behavior that resides with everyone. Dissonance-Reducing Buying Behavior: It occurs when consumers are highly involved with an expensive, infrequent, or risky purchase, but see little difference among brands. For example, consumers buying carpets may face a high-involvement decision because carpet is expensive and self-expressive. In this
  34. 34. Page 28 case, because perceived differences are not large, buyers may shop around to learn what is available, but buy relatively quickly. They may respond primarily to a good price or to a purchase convenience. After the purchase, consumers might experience post-purchase dissonance (after-sale discomfort) when they notice certain disadvantages of the purchased carpet brand or hear favorable things about brands not purchased. To counter such dissonance, the marketer‟s after-sale communications should provide evidence and support to help consumers feel good about their brand choices. Habitual Buying Behavior It occurs under conditions of low consumer involvement and little significant brand difference. For example, take salt. Consumers have little involvement in this product category; they simply go to the store and reach for a brand. If they keep reaching for the same brand, it is out of habit rather than strong brand loyalty. Consumers appear to have low involvement with most low-cost, frequently-purchase products. Because they are not highly involved with the product, consumers may not evaluate choice after purchase. Thus, the buying process involves brand beliefs formed by passive learning, followed by purchase behavior, which may not evaluate the choice even after purchase behavior, which may or may not be followed by evaluation. As buyers are not highly committed to any brand, marketers of low involvement products with few brand differences often use price and sales promotions to stimulate product trail. Variety Seeking Buyer Behavior Consumers undertake variety-seeking buying behavior in situations characterized by low consumer involvement, but significant perceived brand differences. In such cases, consumers often do a lot of brand switching. For example, when purchasing cookies, a consumer may hold some beliefs, choose a cookie brand without much evaluation, then evaluate that brand during consumption. But the next time, the consumer might pick another brand out of boredom or simply to try something different. Brand switching occurs for the sake of variety rather than because of dissatisfaction. The market leader will try avoiding out-of-stock conditions, and running frequent reminder advertising. Challenger firms will encourage variety seeking by offering lower prices, deals, coupons, free samples and advertising that presents reasons for trying something new. Impulse and Planned Buying The purchase of an ice cream may be planned or made on impulse. In some cases, a purchase
  35. 35. Page 29 may be planned in advance, but the timing of the actual purchase may be decided on the impulse of the moment. Impulse buying is sometimes classified into reminder buying or suggestion buying. National advertisers try through displays in retail stores to remind the buyer of products he has seen advertised. Toothpaste is an example. Suggestion buying occurs when the consumer‟s sees a product displayed and realizes that he could use it. An example would be a cigarette lighter. Impulse buying has grown particularly with the development of the self-service retail store. Buying Decisions: Consumer buying behavior is influenced by the buyer‟s decision making process. The buying situation can vary from one of routine-response behaviors to limited problem solving to extensive problem solving. Buying is not a single act but a multi-component decision on the need class, generic class, product class, product form, brand, vendor, quantity, timing and method of payment. The buyer goes through a process consisting of need arousal, information search, evaluation behavior, purchase decision and post-purchase feelings. At each decision stage, characteristics of the buyer, product, seller and selling situation interact to influence the buying outcome. A person‟s buying behavior is the result of the complex interplay of all these cultural, social, personal, and psychological factors. More complex decision usually involve more buying participants and more buyer deliberation. Consumers undertake complex buying behavior when they are highly involved in a purchase and perceive significant differences among brands. Marketers of high-involvement products must understand the information gathering and evaluation behavior of high-involvement consumers. Buying decision process: Need Recognition: The buyer senses a difference between his or her actual state and some desired state. The need can be triggered by internal stimuli when one of the person‟s normal needs – hunger, thirst, sex, etc. rise to a high enough to become a drive. From previous experience, the person has learned how to cope with this drive and is motivated toward objects that he or she knows will satisfy it. Information Search: The consumer can obtain information from any of several sources. These include: personal sources (family, friends, neighbours, and acquaintances), commercial sources (advertising,
  36. 36. Page 30 salespeople, dealers, packaging and displays), public sources (mass media, consumer-rating organizations) and experimental sources (handling, examining and using the product). The relative influence of these information sources varies with the product and the buyer. The most effective sources, however, tend to be personal. Personal sources appear to be even more important in influencing the purchase of services. Commercial sources normally inform the buyer, but personal sources legitimize or evaluate products for the buyer. The marketer should carefully identify consumer‟s sources of information and the importance of each source. Evaluation of Alternatives: The marketer needs to know about the alternative evaluation, that is, how the consumer processes information to arrive at brand choices. Each consumer is trying to satisfy some need and is looking for certain benefits that can be acquired by buying product or service. Further, each consumer sees a product as a bundle of attributes with varying capacities for delivering these benefits and satisfying the need. Marketers should be more concerned with attribute importance than attribute salience. . Purchase Decision: Purchase decisions often begin with trial purchases of limited quantities. Repeat purchases are closely related to brand loyalty. Store choice is an important factor in purchase decisions. The bulk of consumer spending occurs in stores, but catalog sales comprise an increasing percentage of retail sales. The purchase decision includes decisions on financing, installation, related products and services. The marketing implications of purchase decisions depend on whether a mass-marketing approach or market-segmentation approach is adopted. Generally, the consumer‟s purchase decision will be to buy the most preferred brand, but two factors can come between the purchase intention and the purchase decision. They are attitudes of others and unexpected situational factors. Post-Purchase Behavior: In the post-purchase evaluation, consumers compare the product‟s performance against their expectations. Cognitive dissonance occurs when consumers feel a discrepancy between their expectations of a product and its performance. Follow-up advertising can be designed to reassure consumers that they have made the right choice. Consumers base their expectations on messages they receive from sellers, friends and other information sources. If the seller exaggerates the product‟s performance, consumer expectations will not be met, a situation
  37. 37. Page 31 that leads to dissatisfaction. The larger the gap between expectations and performance, the greater is the consumer‟s dissatisfaction. On the other hand, every purchase involves compromise. Consumers feel uneasy about acquiring the drawbacks of the chosen brand and about losing the benefits of the brands not purchased. Thus, consumers feel at least some post-purchase dissonance for every purchase. A satisfied customer buys again, talks favorably to others about the product, pays less attention to competing brands and advertising and buys other products from the company. Factors affecting brand preference Brand adoption or preference has been receiving increased attention in extant literature. Cooper (1993) noted that most new innovations come with high risks as most of them failed in the marketplace creating the need for marketers to have a clear understanding of success factors in brand adoption. Theories of adoption have often been used to explain how consumers form preferences for various goods and services (Rogers, 1995; Tornasky and Klein, 1982; Mason, 1990; Charlotte, 1999). Generally, these theories emphasize on the importance of complexity, compatibility, observability, triability, relative advantage, risk, cost, communicability, divisibility, profitability, social approval, and product characteristics in brand preference (Wee, 2003). The relative importance of each factor depends on the nature of industry under consideration, location and social characteristics of the consumers of the different brands. Consumer choice behavior has also been studied using the five-step process step (need– information search–evaluation of alternatives– purchase–post-purchase evaluation) problem solving paradigm or through the progression of consumer choice from a product class to brand choice (Dorsch et al., 2000). Discrete choice models (Chintagunta, 1999; Bockenholt and Dillon, 2000) or neural networks to model selection decisions (Papatla et al., 2002) have also been used in brand choice research. Wee (2003) conducted a study to identify the factors affecting adoption of new product innovations in the consumer electronic industry of Singapore using qualitative (focus group discussions) and quantitative research techniques (survey with 151 respondents in the 16 - 35 year age group). The researcher considered two brands, the Mini Disc and the MP3 Portable player. Using factor analysis, seven factors were identified as critical in effecting adoption of a player: relative advantage, perceived risk, complexity, compatibility, observability, image and trialability. Of these factors, relative advantage conferred by the
  38. 38. Page 32 player was the most important factor that consumers valued in their adoption decisions. Li and Houston (1999) employed a sample of 1200 consumers in Taiwan to determine factors underlying choice of market innovations. Price level, product variety and marketing communications factors were identified as promoters of choice. The promotional (marketing communications) mix has various elements – advertising, sales promotion, direct marketing, exhibittions, sponsorship, personal selling, word of mouth, merchandising, public relations, relationship marketing, corporate image and reputation etc. Karjaluoto et al. (2005) investigated the consumer choice in the context of the mobile phone industry in Finland using a sample of 196 respondents. Twenty-four questions were used to assess consumer motivations in mobile phone choice. Seven estimated factors influencing mobile phone choice were Innovative services, multimedia, design, brand and basic properties, outside influence, price, and reliability explain and these accounted for about 70% of the total variance. Some of the important product decisions in any marketing context are product, variety, product performance, product features, product design, product presentation, sizes etc (Doyle, 2002). Consumer surveys often reveal that quality is one of the most important decision factors for consumers, if not the most important (Keller, 2000). Product quality stands for the ability of a product to perform its functions (Kotler, 2003). Consumer Behavior Analysis Proctor et al. (1982) noted that the principle aim of consumer behavior analysis is to explain why consumers act in particular ways under certain circumstances. It tries to determine the factors that influence consumer behavior, especially the economic, social and psychological aspects which can indicate the most favoured marketing mix that management should select. Consumer behavior analysis helps to determine the direction that consumer behavior is likely to make and to give preferred trends in product development, attributes of the alternative communication method etc. consumer behaviors analysis views the consumer as another variable in the marketing sequence, a variable that cannot be controlled and that will interpret the product or service not only in terms of the physical characteristics, but in the context of this image according to the social and psychological makeup of that individual consumer (or group of consumers). Source of Influence:
  39. 39. Page 33 Zacharias et al. (2009) found that irrespective of the occupation, respondents of their study felt that friends and relatives strongly influence a consumer decision. Erda (2009) found those personal sources; especially family and friends' influence consumer decision making in rural markets. He found that about 29% of the sample was influenced by family and 18% by friends while taking a decision to purchase products. Dhumal et al. (2009) observed that peer group has a significant effect on the purchasing pattern of rural consumers especially branded products. Gupta and Mittal (2009) observed that head of the family has the highest influence on the purchase of products followed by retailers, family members and relatives. Velayudhan (2009) found that the influence of personal sources of information is higher in rural areas when compared to urban areas. He also found that informal referent groups largest sources of information in rural markets. Incidentally, more educated consumers also used informal referent groups.
  40. 40. Page 34 1. Demographic Factors The major demographic factors which influence the consumer buying behaviour are analyzed based on descriptive analysis. The factors which are discussed and analyzed are Age, Education, and Monthly Income. These factors fall under the two major classification which affects the consumer buying behaviour known as Personal and Social Factors. Exhibit 4.1: Chart shows the detail of age group S.No Age group Frequency Percent 1 Below 25 yrs 31 62 2 Below 25-30 yrs 19 38 3 30-40 yrs - - 4 Above 40 yrs - - 5 Total 50 100 Pie chart shows the detail of age group Interpretation: This chart shows that the majority 62% of the respondents were under the age group of below 25 years and the minority of 38% were under the age group below 25- 30 years. The obvious implications of this finding are dominance of youths in the market for the products of Yamaha brand. Age Group Below 25 years Below 25-30 yeaars 30-40 years Above 40 years
  41. 41. Page 35 Exhibit 4.2: Chart shows the detail of Education qualification: S.No Qualification Frequency Percent 1 SSSLC - - 2 PUC 5 10 3 Degree 45 90 4 Other - - 5 Total 50 100 Graph shows the detail of Education qualification: Interpretation: The above chart shows that majority of 90% of the respondents are degree qualified and the minority of 10% of respondents are PUC. 0 5 10 15 20 25 30 35 40 45 50 SSLC PUC Degree Other
  42. 42. Page 36 Exhibit 4.3: Chart shows the Details of monthly income of the family: S.No Income level Frequency Percent 1 Rs 5000-Rs 10000 15 30 2 Rs 10000-Rs 20000 25 50 3 Above 20000 10 20 4 Total 50 100 Pie chart shows the Details of monthly income of the family: Interpretation: The Exhibit 4.3 shows that the majority 50% of respondents was earning between 10000 - 20000 rupees per month and the minority 30% of respondents were earning between 5000- 10000 rupees per month. This suggests that the medium income level person prefers Yamaha bike more than others Income Level Rs 5000-Rs10000 Rs 10000-Rs 20000 Above 20000
  43. 43. Page 37 Exhibit 4.4: Chart shows the Medium of communication that influences Brand Preference S.No Communication Medium Frequency Percentage 1 Print Media 3 6 2 Electronic Media 22 44 3 Word of Mouth 13 26 4 Sales Promotion 12 24 5 Total 50 100 Graph shows the Medium of communication that influences Brand Preference: Interpretation: The above chart shows that majority of 44% of respondents got influenced towards Yamaha bike through Electronic media and the minority of 6% of respondents influenced through Print media. It suggests that the Electronic media influences Brand Preference much higher than other media of communication. 0 5 10 15 20 25 Print Media Electronic Media Word of Mouth Sales Promotion Communication Medium
  44. 44. Page 38 Exhibit 4.5: Chart shows the Reason for Preferring Yamaha brand S.No Reason Frequency Percent 1 Quality 30 60 2 Availability 17 34 3 Price 2 4 4 Service 1 2 5 Total 50 100 Graph shows the Reason for Preferring Yamaha Brand Interpretation: The chart shows that the Quality plays the major reason in preferring Yamaha brand for 60% of customers followed by the availability of product 34%. 0 5 10 15 20 25 30 Quality Availability Price Service
  45. 45. Page 39 Exhibit 4.6: Chart shows the percentage of Product Features S.No Attributes Price Style Color Mileage Less M Power Performance Technology 1 Highly Dissatisfied 2.5 3.3 0 0.8 2.5 0 0.9 3.4 2 Dissatisfied 6.7 5.0 3.3 34.2 33.3 12.5 11.7 18.3 3 Neutral 37.3 28.3 35.8 45.0 37.5 35.0 35.8 35.0 4 Satisfied 43.3 35.0 37.5 15.8 16.7 37.5 38.3 32.5 5 Highly Satisfied 10.2 28.4 23.4 4.2 10.0 15.0 13.3 10.8 6 Total 100 100 100 100 100 100 100 100 Pie chart shows the Detail of Percentage of Product Features: Price Style Color Mileage Less Maintainance Power Performance Technology
  46. 46. Page 40 Graph shows the Detail of Percentage of Product Features: Interpretation: This chart shows that majority 43.3%, 35%, 37.5%, 37.5%, and 38.3% of respondents are satisfied with the price, style, color, power and performance of their bike respectively. This table also shows that majority 45.0%, 37.5% and 35% of respondents are neither satisfied nor dissatisfied with the mileage, less maintenance, and technology of their bike respectively. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied
  47. 47. Page 41 Exhibit 4.7: Chart shows the Role of availability in the selection of Brand S.No Role of availability Frequency Percent 1 Very High 15 30 2 High 25 50 3 Average 10 20 4 Low - - 5 Very Low - - 6 Total 50 100 Graph shows the Role of availability in the selection of Brand: Interpretation: The chart shows that the majority 50% of respondent‟s opinions was high about the role of availability of product in the selection of brand and the no response in the last two rating shows that the importance of availability is always higher in the selection of brand. 0 5 10 15 20 25 Very High High Average Low Very Low Availability
  48. 48. Page 42 Exhibit 4.8: Chart shows the Trust level of Yamaha brand S.No Trust Level Frequency Percent 1 Very High 18 36 2 High 21 42 3 Average 9 18 4 Low 2 4 5 Very Low - - 6 Total 50 100 Graph shows the Trust level of Yamaha brand: Interpretation: The chart shows that the majority 42% of respondents opinion was high about their trust level on the Yamaha brand and the no response on the „Very Low‟ rating of the Trust level shows that all the respondents possess atleast some Trust on the Yamaha Brand. 0 5 10 15 20 25 Ver High High Average Low Very Low
  49. 49. Page 43 Exhibit 4.9: Chart shows the duration of using Yamaha bike S.No Duration Frequency Percent 1 Less than 1 year 9 18 2 Two years 19 38 3 Three years 12 24 4 More than 3 years 10 20 5 Total 50 100 Pie chart shows the duration of using Yamaha bike: Interpretation: The chart shows that majority 38% of respondents have been using Yamaha bike from the past two years and minority 18% of respondents have been using Yamaha bike less than one year. Less than one Year Two years Three years More than 3 years
  50. 50. Page 44 Exhibit 4.10: Chart showing Respondents level of promoting Yamaha Brand to others S.No Level of Promotion Frequency Percent 1 Very High 2 4 2 High 20 40 3 Average 28 56 4 Low - - 5 Very Low - - 6 Total 50 100 Graph showing Respondents level of promoting Yamaha Brand to others: Interpretation: The chart shows that an average 56% of respondents will promote Yamaha brand to others and the minority 4% of respondents will never promote the brand to others. This result not only shows the brand loyalty of the customer but also shows the impact in the word of mouth communication medium. 0 5 10 15 20 25 30 Very High High Average Low Very Low Level of Promotion
  51. 51. Page 45 Exhibit 4.11: Chart shows the mode of Purchase S.No Purchase Mode Frequency Percent 1 By Full Cash 31 62 2 EMI 19 38 3 Total 50 100 Pie chart shows the mode of Purchase: Interpretation: This chart shows that the majority 62% of respondents preferred to buy bike by full cash and the minority 38% of respondents preferred EMI. It suggests that the majority of the customer to buy bike by paying full cash rather than going for EMI. Mode of Purchase By Full Cash EmI
  52. 52. Page 46 Exhibit 4.12: Chart shows major role player in decision making in purchasing the bike S.No Decision Maker Frequency Percent 1 Father 5 10 2 Mother 4 8 3 Friends 13 26 4 Self 28 56 5 Others - - 6 Total 50 100 Graph shows major role player in decision making in purchasing the bike: Interpretation: This chart shows that the majority 56% of respondents was the final decision maker for purchasing the bike and the minority 8% of respondents opinion was Mother. It suggests that the respondents are the ultimate decision maker in buying the bike. 0 5 10 15 20 25 30 Father Mother Friends Self Others
  53. 53. Page 47 Exhibit 4.13: Chart showing the Percentage of showroom attributes S.No Rating Infrastructure Availability Response Knowledge Service 1 Excellent 3.3 4.2 3.3 5.0 10.0 2 Good 50.0 50.8 24.2 38.3 28.3 3 Average 42.5 32.5 55.0 45.8 41.7 4 Poor 3.3 11.7 16.7 9.2 15.8 5 Awful 0.9 0.8 0.8 1.7 4.2 6 Total 100 100 100 100 100 Pie chart showing the Percentage of showroom attributes Showroom attributes Infrastructure Availability After Sales Response Knowledge of Sales man Service
  54. 54. Page 48 Graph showing the Percentage of showroom attributes: Interpretation: The chart shows that the majority 50% and 50.8% of respondents rated the infrastructure of the showroom and the product availability of the showroom was good respectively. The table also shows that the majority 55%, 45.8% and 41.7% of respondents rated the after sales response of the dealer, Knowledge of salesman and the service of the dealer was average respectively. 0 20 40 60 80 100 Awful Poor Average Good Excellent
  55. 55. Page 49 Exhibit 4.14: Chart showing Percentage of Satisfaction towards some Significant Attributes S.No Satisfaction Level Safety Comfort Availability Product Price Spare part price 1 Highly Satisfied 8.4 7.5 6.7 1.6 5.0 2 Satisfied 63.3 68.3 29.2 45.0 27.5 3 Neutral 27.5 24.2 58.3 41.7 53.3 4 Dissatisfied 0.8 - 5.8 11.7 14.2 5 Highly Dissatisfied - - - - - 6 Total 100 100 100 100 100 Pie chart showing the details of some significant attributes Safety Comfort Availability of spare parts Price of the Produce Price of the spare parts
  56. 56. Page 50 Graph showing the details of some significant attributes: Interpretation: The chart shows that the majority 63.3%, 68.3% and 45% of respondents were satisfied with the safety, comfort and the price of their bike respectively. The table also shows that the majority 58.3% and 53.3% of respondents were neither satisfied nor dissatisfied with the availability of the spare parts and the price of the spare parts of their bike respectively. 0 20 40 60 80 100 120 Safety Comfort Availability of spare parts Price of the Produce Price of the spare parts Highly Dissatisfied Dissatisfied Neutral Satisfied Highly Satisfied
  57. 57. Page 51 Exhibit 4.15: Chart shows the need for buying the bike S.No Need Frequency Percent 1 Status symbol 5 10 2 Utility Vehicle 25 50 3 Long journey 7 14 4 Vehicle style 13 26 5 Total 50 100 Pie chart shows the need for buying the bike: Interpretation: This chart shows the majority 50% of respondents buy the bike for utility purpose and the minority 10% of respondents will buy the bike for status symbol. Status Symbol Utility vehicle Long journey Vehicle style
  58. 58. Page 52 Exhibit 4.16: Chart shows the Respondents Level of Recommendation of Dealer to Others S.No Level of Recommendation Frequency Percent 1 Highly recommended 3 6 2 Recommended 30 60 3 Neutral 10 20 4 Not recommended 2 4 5 Highly Not recommended 5 10 6 Total 50 100 Graph shows the Respondents Level of Recommendation of Dealer to Others: Interpretation: The chart shows the majority 60% of respondents will recommending dealer to others and the minority 10% of respondents will not recommend dealer to others. 0 5 10 15 20 25 30 35 Highly recommended Recommended Neutral Not recommended Highly not recommended
  59. 59. Page 53 Exhibit 4.17: Chart shows the Overall Satisfaction of the Yamaha bike of the Respondents S.No Satisfaction Level Frequency Percent 1 Highly satisfied 5 10 2 Satisfied 23 46 3 Neutral 20 40 4 Dissatisfied 2 4 5 Highly Dissatisfied - - 6 Total 50 100 Graph shows overall satisfaction of Yamaha bike of the Respondents: Interpretation: The chart shows that the majority 46% of respondents were satisfied with their Yamaha bike after purchase. This suggests that the majority of the customers don‟t experience the post purchase dissonance. It is because of the marketer‟s after sale communication which provides evidence and support to help customers feel good about their brand choice. 0 5 10 15 20 25 Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied
  60. 60. Page 54 5.1 Findings 1. The majority 62% of respondents were under the age group of below 25 years and the minority 38% of respondents were the age below 25- 30 years. 2. The majority 90% of respondents are degree qualified and minority 10% of respondents are PUC qualified. 3. The majority 50% of respondents were earning between 10000- 20000 rupees per month and the minority 30% of respondents were earning between 5000- 10000 rupees. 4. The majority 44% of respondents got influenced towards Yamaha bike through Electronic media and the minority of 6% of respondents influenced through Print media. 5. The majority 43.3%, 35%, 37.5%, 37.5%, and 38.3% of respondents are satisfied with the price, style, color, power and performance of their bike respectively I also found that majority 45.0%, 37.5% and 35% of respondents are neither satisfied nor dissatisfied with the mileage, less maintenance, and technology of their bike respectively. 6. The majority 60% of respondents prefer Yamaha bike for quality and the minority 30% of respondents prefer Yamaha bike for availability. 7. The majority 50% of respondents opinions was high about the role of availability of product in the selection of brand and the minority 20% of respondents opinion were average. 8. The majority 42% of respondents opinion was high about their trust level on the Yamaha brand and the minority 4% of respondents opinion was low. 9. The majority 38% of respondents have been using Yamaha bike from the past two years and minority 18% of respondents have been using Yamaha bike less than one year. 10. The majority 50% of respondents buy the bike for utility purpose and the minority 10% of respondents will buy the bike for status symbol.
  61. 61. Page 55 11. The average 56% of respondents will promote Yamaha brand to others and the minority 4% of respondents will never promote the brand to others. This result not only shows the brand loyalty of the customer but also shows the impact in the word of mouth communication medium. 12. The majority 62% of respondents preferred to buy bike by full cash and the minority 38% of respondents preferred EMI. It suggests that the majority of the customer to buy bike by paying full cash rather than going for EMI. 13. The majority 56% of respondents was the final decision maker for purchasing the bike and the minority 8% of respondents opinion was Mother. It suggests that the respondents are the ultimate decision maker in buying the bike. 14. The majority 50% and 50.8% of respondents rated the infrastructure of the showroom and the product availability of the showroom was good respectively. It also shows that the majority 55%, 45.8% and 41.7% of respondents rated the after sales response of the dealer, Knowledge of salesman and the service of the dealer was average respectively. 15. The majority 63.3%, 68.3% and 45% of respondents were satisfied with the safety, comfort and the price of their bike respectively. The table also shows that the majority 58.3% and 53.3% of respondents were neither satisfied nor dissatisfied with the availability of the spare parts and the price of the spare parts of their bike respectively. 16. The majority 60% of respondents will recommending dealer to others and the minority 10% of respondents will not recommend dealer to others. 17. The majority 46% of respondents were satisfied with their Yamaha bike after purchase. This suggests that the majority of the customers don‟t experience the post purchase dissonance. It is because of the marketer‟s after sale communication which provides evidence and support to help customers feel good about their brand choice
  62. 62. Page 56 5.2 SUGGESSTIONS: 1. The study revealed that the Brand Preference for Yamaha bike among customers in Mysore is high among the youths and the maximum of current Yamaha customers are showing the Brand Loyalty. 2. The study also revealed that the major factor which influence the preference for Yamaha Brand is performance followed by the style of the product. But the study shows that the price factor is only satisfied, not even 50% of respondents. It is because of high cost of the Yamaha two wheelers. The Sales of the Yamaha two wheelers can be increased by reducing cost of the product which is the third major factor which influences the Brand preference. 3. The two most important factors in a bike are Safety and Comfort. From the study it was discovered that more than 50% of respondents are satisfied with the Safety and Comfort Level of the Yamaha bike. But they are still some issues which need to be look over in the safety and comfort aspects. From the open-ended suggestion also, most of the customer‟s opinion was that Yamaha two wheelers are lacking in those aspects. The main aspects which the Yamaha has to concentrate are „Powerful Headlights‟ and „Braking‟. 4. The Yamaha company should concentrate on the after-sale communications which provide evidence and support to help customers feel good about their Brand choices. It helps in reducing after-sale discomfort.
  63. 63. Page 57 5.3 CONCLUSION After the completion of this project, I‟ve gained some new experience in the Field Research. During survey, I‟ve met a large number of people with different perception and behavior. It was a great opportunity for me to learn about the customer behavior and I utilized it properly to learn the same. From this study, it is concluded that the Brand Preference for Yamaha two wheelers among customers is higher in Mysore. However, Yamaha may improve into a highly trustful and preferable brand if the suggestions are incorporated. It is difficult to acquire new customers and it is more difficult to retain the existing customers. In the case of two wheelers, purchase is an expensive and infrequent or risky purchase where customers will face a high-involvement decision. So, not only for the initial purchase but also to ensure the future purchase, it is advisable to implement the suggestions to retain the customers.
  64. 64. Page 58 Questionnaire Dear Respondent I, Sandeep F (4MH12MBA38), a student of Maharaja Institute Of Technology- Mysore, Department of Business Administration, is undertaking a Summer Internship Project on “A Study of Brand Preference and Buying Pattern at Arjun Motors”. I solicit your co-operation in filling up this questionnaire to facilitate completion of my project work. I assure you that the response given will be kept confidential and will be used for academic purpose only. (Please (  ) the following attributes according to your degree of preference) Part A - General Information 1. Name …………………………………….. 2. Gender: a) Male ( ) b) Female ( ) 3. Age a) Below 25 yrs ( ). b) Below 25-30 yrs ( ). c) 30-40 yrs ( ). d) Above 40yrs ( ). 4. Occupation ………………………………………… 5. Marital status a) Married ( ). b) Unmarried ( ). 6. Education a) SSLC ( ). b) PUC ( ). c) Degree ( ). d) Other ( ). 7. Monthly income of the family a) Rs 5000- Rs 10000 ( ). b) Rs 10000- Rs 20000 ( ). c) Above 20000 ( ).
  65. 65. Page 59 Part B - Brand Preference 1. What is the medium of communication that influences your Brand preference? Print Media ( ). Electronic Media ( ). Word of Mouth ( ). Sales Promotion( ) 2. What is the reason for preferring the Yamaha brand? Quality ( ) Availability ( ) Price ( ) Service ( ) 3. Give points to the following features of your Yamaha product. Attribute Highly Dissatisfied Dissatisfied Neutral Satisfied Highly Satisfied Price Style Color Mileage Less Maintenance Power Performance Technology 4. Rate your Yamaha bike on the basis of following attributes. Attribute Very High High Average Low Very Low Role of availability in the selection of brand Trust level on the Yamaha brand 5. How long have you been using Yamaha Bike. Less than one year ( ). Two years ( ). Three years ( ). More than three years.( ) 6. What is the level that you promote the Yamaha brand to others? Very High ( ). High ( ) Average ( ). Low ( ). Very Low ( )
  66. 66. Page 60 PART C- Buying Pattern 1. Which mode of purchase do you prefer? By Full Cash ( ). EMI ( ) 2. Who plays the major role in decision making for purchasing the bike? Father ( ). Mother ( ). Friends ( ). Self ( ). Others ( ) 3. For what purpose you want to have bike. Status symbol( ). Utility vehicle ( ). long journey( ) vehicle style ( ) 4. Rate your Yamaha bike on the basis of following attributes. Attributes Highly satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied Safety Comfort Availability of spare parts Price of the product Price of the spare parts 5. Rate the showroom attributes 6. Will the location of the showroom affect your purchase decision? Yes ( ). No ( ) Attributes Excellent Good Average Poor Awful Infrastructure Availability After sales response Knowledge of Sales man Service
  67. 67. Page 61 7. Do you recommend your dealer to others? Highly Recommend ( ). Recommend ( ). Neutral ( ). Not Recommend ( ) Highly Not Recommend ( ). 8. What is your overall satisfaction level with regards to the Yamaha bike? Highly Satisfied ( ). Satisfied ( ). Neutral ( ). Dissatisfied ( ) Highly Dissatisfied ( ) 9. What do you expect more from your Yamaha bike? (Eg: New Features or other recommendations) Date: Signature of Respondent
  68. 68. Page 62 BIBILOGRAPHY REFERENCE BOOKS:  Philip kotler: Principles of Marketing 7th Edition: Pearson Publication.  Saxena and Ragan: Marketing Management: Tata McGraw Hill 3rd Edition  Wayne D Hoyer, Deborah J Maclnnis: Consumer Behavior. WEBLIOGRAPHY  WWW.WIKIPEDIA.ORG  WWW.YAMAHA-MOTORS-INDIA.COM.  WWW.BOOKS.GOOGLE.CO.IN MAGZINES  BUSINESS TODAY  BUSINESS WORLD

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