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Hero Honda Project Report
 

Hero Honda Project Report

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The project aims to understand the reason behind the perceptions of the various bikes. Some of our findings included the most important parameters that are considered while buying a premium segment ...

The project aims to understand the reason behind the perceptions of the various bikes. Some of our findings included the most important parameters that are considered while buying a premium segment bike and how the bikes rates on these parameters compared to others in the same segment. Our analysis has proved that there is a quite less effect of the advertisements of the Hero Honda brand.

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    Hero Honda Project Report Hero Honda Project Report Presentation Transcript

    • Looks, style, power, comfort, brand…????????
    • Project title
      ANALYSIS OF PURCHASE INFLUENCING FACTORS IN
      PREMIUM SEGMENT BIKES
    • Background
      The two-wheeler market in India is the biggest contributor to the automobile industry with a size of Rs.100000 million. The two-wheeler market in India comprises of 3 types of vehicles, namely motorcycles, scooters, and mopeds. Among the 3 segments of the Indian two wheeler market, major growth trends have been seen in the motorcycle segment over the last four to five years. One good reason for such increase in demand for motorcycles is due to its resistance and balance even on bad road conditions.
    • The main factors that affect two-wheeler sales in India
      increase in credit and financing for auto vehicles.
      increase in consumer's salary - Due to opportunities offered by multinationals the disposable incomes of salaried individuals have increase manifold.
      rising fuel prices that favour the sales to two wheelers.
      technological advancements in product manufacturing and emphasis on design innovation.
    • Marketing Research Problem
      Background to the problem:
      The problem is to identify the factors and their relative importance to customers of premium segment bikes, the relative favorability of one bike brand vis-à-vis other brands and alternative customer propositions that the brand could offer to improve it sales.
      Statement:
      “Analysis of purchase influencing factors in premium segment bikes”
    • Descriptive Research
      Research Objectives:
      Attributes that customers look for in a premium segment bike.
      To identify the pre-purchase and post-purchase behavior of the customer.
      To identify the personality pattern of different brand owners.
    • Survey Method
      Market Survey
      Questionnaires
      Personal Interviews
    • DEMOGRAPHIC DETAILS
    • Factors Preference
    • Factor Analysis
      77% of variance explained by 4 components
      • Performance
      • Styling
      • Brand initial offerings
      • Post purchase offerings
    • ADVERTISEMENT EFFECT ON PURCHASE DECISION
    • TEST DRIVE AT DEALERSHIP
    • RECOMMENDATION BY OTHERS
    • COMPETITOR COMPARISON OF BIKES
    • FIRST BIKE PURCHASERS
    • OWNERSHIP DETAILS
    • CROSS TABULATION
    • Students and working professionals analysis
    • Age group analysis
    • Preference to factors by different age groups
      1 being the highest ranked and 10 being the lowest ranked
    • Personality sketch
      Green lineshows the in-house survey which was conducted in the company. It is the perception of the employees as the owner of the company for personality of different bikes owners.
      Red lineshows the personality pattern of the individuals who were interviewed
    • Profile
      Profile of a typical Hero Honda Karizma owner:
      Age : 25
      Occupation : Working in private firm(Software Engineer)
      Personality : He is an average build man, thinks that he is good looking, cherish able, smart and youthful. He is good with his work but never try to overdo it. He is specific with his time of work. Being a professional he looks formal but loves casual attire and wear it often when off work. He is seen as a person with dual personality, loves his work and is serious about it but is also excited about the coming weekend and is a frequent movie goer.
    • Personality Sketch
    • Profile
      Profile of a typical Hero Honda CBZ owner:
      Age : 27
      Occupation : Working in private firm(Sales and Operations, officer )
      Personality : A well built pleasant personality, looks very calm and relaxed. His smile tells it all, he is humble and carries himself and his talks well with simplicity as well as maturity. He is no nonsense guy and everyone around likes to have a talk with him. He adapts well in different situations and people thinks he is reliable. He likes to stay at home during weekends spends time with family.
    • Personality Sketch
    • Profile
      Profile of a typical Hero Honda Hunk owner
      Age : 24
      Occupation : Student(post graduate)
      Personality : A guy with good built up, likes to wake up late in the morning. His clothes and sunglasses are his style statement. Meshed up hairs that don’t really need any styling. He brushes his teeth, washes his face and moves to the college wearing his glasses. The only problem with this tough guy is his don’t care attitude which creates a lot of trouble for him. Loves to through a party for friends, always a topic of discussion among girls but have no girlfriend.
    • Personality Sketch
    • Profile
      Profile of a typical Bajaj Pulsar owner
      Age : 25
      Occupation : Business(computer hardware shop)
      Personality: He is an average build individual who is serious about his business, seems to be relaxed outside but tense inside and thinks of every possibility of revamping his business to take it to a growth path. He is excited when with friends but usually his work overshadows his utter desires. He makes the most of it when gets time to enjoy.
    • Personality Sketch
    • Profile
      Profile of a typical TVS Apache owner:
      Age : 19
      Occupation : Student(Graduation)
      Personality : Full of youth and always being really excited with things is USP of this individual. Still looks like a school going guy, this individual lives his life in very unorganized manner. One who easily get provoked by others and always ready to take up challenges to impress others. Hangs-out with friends and is a frequent visitor to some of the biggest malls in city.
    • Personality Sketch
    • Profile
      Profile of a typical Yamaha owner :
      Age : 23
      Occupation : Business(Runs a dance institute)
      Personality : An average built guy who loves taking risks, looks relaxed and tries to dominate others with his presence. A sense of complexity surrounds him. He believes in perfection but never tries that hard to achieve it. A kind of guy who makes his simple life full of complexity but loves it because he enjoys being unique.
    • Recap
      • Comfort, Looks and Style, Power, Engine capacity and brand are top priorities.
      • Advertisement does not play a significant role in purchasing pattern.
      • Students and working professionals are the majority of premium bike users.
      • Cross tabulation shows that 36% of people were those who took the test drive at the dealership and also made competitor comparison followed by 31% of those who neither took a test drive nor made any competitor comparison.
      • Hero Honda and Bajaj are the highly recommended brands by others.
      • Reliability of Hero Honda is Perceived to be high and percentage of people who owned Hero Honda before and again took the same brand of premium segment is also significant.
      • Hero Honda CBZ extreme and hunk is less purchased among students and age group below 20 years but numbers of these bikes among working professionals and age group of 20 to 25 is significantly good.
      • TVS Apache have a significant presence among students and age group below 20.
      • Adaptability of pulsar’s and apache is perceived to be high by most of the customers.
      • People are not confident about the new bikes in the market only first time buyers are the majority of customers going for it.
    • Recommendation
      Though advertisement does not play a significant role as seen from the survey result, still it needs to be revamped
      Price can be used as a differentiating factor => give price discounts in festive seasons.
      Should have better Post launch promotional campaign.
      Use brand ambassadors.
      Sponsor major events, organize rallies and test drive campaigns.
      Hero Honda should portray bike making capabilities, karizma being an example.
    • Thank You !!!