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A study on customer preferebce and satisfaction towards bajaj bikes

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Preference and Satisfaction towards Bajaj BIkes

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A study on customer preferebce and satisfaction towards bajaj bikes

  1. 1. A Presentation on “A Study on Customer Preference and Satisfaction towards Bajaj Bikes” Prepared By: Ajay B. Savaliya Enrollment No: 147500592100 Faculty Guide: Ms. Esha Pandya Company Guide: Mr. Shoban Mulla S.R.LUTHRA INSTITUTE OF MANAGEMENT Summer Internship Project AUGUST – 2015
  2. 2. Introduction of Customer Preference and Satisfaction • Customer Preference Consumer preference means a consumer likes one thing over another. The preference of the consumer is the result of the behavior they show during searching, purchasing, and disposing the product. • Customer Satisfaction Customer satisfaction measures how well the expectations of a customer concerning a product or service provided by your company have been met. Customer satisfaction is important because it provides marketer and business owners with a metric that they can use to manage and improve their businesses.
  3. 3. a. Global Level • India is the 2nd largest two-wheeler market and 4th largest commercial vehicle market. • The world’s largest market for two-wheelers is China. • Other large markets in the region are Japan, Indonesia, Vietnam and Taiwan. • The global two-wheeler manufacturing industry grew by 3.3% in 2013 to reach a value of $61.5billion. • North America; which saw a decline in production volume of over 20% in 2013. • Honda’s sales is increased by 9.9%; mainly due to higher sales in India, Thailand etc. while lower sales in Brazil.
  4. 4. b. National Level • Two-wheeler industry started early 50s and manufacturing scooters. • Bajaj auto and HERO MotoCorp sales went to decrease while Honda Motorcycle sales has increased. c. State Level • Sales of two-wheeler in between April and September went down to 15%. • In previous, sales of two-wheeler in Gujarat is 65000 to 70000 units per month. • Now, average has come down around 50000 to 55000 units per month. • Bajaj auto has good response from Rural market.
  5. 5. d. PESTEL Analysis Political • Employment laws • Tax policy • Political stability Economical • Inflation rate • Exchange rates • Interest rates Social • Safety • Popularity
  6. 6. Technological • Technological change • R&D activity Environmental • The environmental factors don’t play a vital role in the two-wheeler market. But the time has changed and people are more eco-friendly. Legal • New rules and regulations like Helmet, Driving Licence for riding two-wheelers. Conti…..
  7. 7. e. Current Trend
  8. 8. f. Major Players • Hero MotoCorp Ltd. • Honda Motor Company Ltd. • Suzuki Motor Corporation Ltd. • Bajaj Auto Ltd. • TVS Motor Company Ltd. • Yamaha Motor Company Ltd. • Royal Enfield Company Ltd. • Mahindra Two-wheelers Ltd. • Harley-Davidson Company Ltd. • Piaggio
  9. 9. g. Major Offering 1. Sports bikes 2. Sport touring bikes 3. Cruiser bikes 4. Touring bikes 5. Dual-sport bikes 6. Standards bikes 7. Off-road or Dirt bikes
  10. 10. Company Profile of Bajaj Auto Type Public company Industry Two-wheeler Automobile Industry Year of establishment November 29, 1945 (Pune, Maharashtra, India) Founder Jamnalal Bajaj Key people Rahul Bajaj (Chairman) Rajiv Bajaj (Managing Director) Headquarter Pune, Maharashtra, India Presence Distribution network covers 50 countries Dominant presence in Sri Lanka, Peru, Bangladesh, Iran, Indonesia etc.
  11. 11. • “To attain world class Excellency by demonstrating value added products to customers” VISION • “Focus on value based manufacturing continual improvement total elimination wastes pollution free and safe environment” MISSION
  12. 12. Company Profile of Shivam Bajaj Company Name Shivam Bajaj Year of establishment 1st Nov, 2013 Address FF-1, Mansarovar Heights, opp. Bhaktidham Temple, Puna Kumbhariya road, Puna patiya, Surat-395010 Owner name Mr. Dharmeshbhai Palsanawala Mr. Hirenbhai Patel Authorized dealer Bajaj Auto Limited No. of employees 30
  13. 13. Organogram Owner Sales Manager Service Manager Sales Executive Workshop Manager Back office Workshop Person Marketing Manager
  14. 14. SWOT Analysis  Strength • Highly experienced management • Widespread distribution network • Good experienced workers • Excellent marketing • Good reputation in market  Weakness • After sales service is very poor • Lag in distribution of products or payment delays  Opportunities • Cheaper variants for tapping more in the rural segment • Premium sport bikes for urban areas • Constant growth in two-wheeler segment  Threats • Cheaper imports from countries like China • Other motorcycles players have a strong brand presence
  15. 15. Year Author Name Topic Findings 2014 Mrs. G. Mahalakshami Satisfaction on two- wheelers Buyers prefer two-wheelers for their riding comfort and satisfied with their services. 2013 V. Devki & Dr. H. Balakrishnan Preference towards Hero two-wheelers Majority of them are give more importance to price and prefer middle ranged bike. 2011 Kerav Pandya & H. J. Jani Satisfaction among two-wheelers users Factor that affect consumer purchase is style and power. 2014 Ms. Ameer Asra Ahmed & Dr. M.S. Ramachandra & Mr. Siva Nagi Reddy Satisfaction level to- wards Royal Enfield Youngers are more prefer Royal Enfield bullet; and they are satisfied with overall performance. 2004 Sagar and Chandra Preference towards small cars Consumers prefer cars for their design and advance technologies. 2013 Mrs. Beena John & Dr. S. Pragadeeswaran Preference towards small cars Demographic variables are indirectly influenced and Price quality is influenced customer for purchasing cars.
  16. 16. a. Problem Statement In today’s intensely competitive environment, companies today are constantly looking for ways to attract customers by having a better understanding of changing customer preferences. Therefore this study has been conducted to find the Customer Preference and Satisfaction towards Bajaj Bikes. b. Research Objective • To ascertain the customer preference and satisfaction towards the Bajaj bikes. • To determine which is/are the most attractive attribute/attributes for purchasing Bajaj bikes. • To find the areas of improvement of the Bajaj bikes. • To know the respondents problems towards Bajaj bikes. • To study association between demographic variables and different attributes of Bajaj bikes.
  17. 17. Types of Design Descriptive Research Design Data Collection Questionnaire Sample Population Customer who are using Bajaj bike Sample area Surat city Sample size 200 Questionnaires Sampling Method Non-probability convenience sampling method Tools for analysis • Charts with use of Microsoft Excel 2010 • Chi-square test with the use of SPSS 16.0 Limitation of the study • Very small sample size (200) • Study is limited to Surat city only. c. Research Design
  18. 18. Demographic Variables
  19. 19. Q. Models of Bajaj bikes Model No. of Respondents Model No. of Respondents CT 100 9 Pulsar 135LS 11 Platina 100 22 Pulsar 150 19 Discover 100 10 Pulsar 150AS 4 Discover 100M 16 Pulsar 180 17 Discover 125M 21 Pulsar 200NS 12 Discover 150S 3 Pulsar AS200 12 Discover 150F 5 Pulsar 220F 18 Avenger 220 18 Pulsar RS200 3
  20. 20. 1) Which is/are the most attractive attribute/attributes for purchasing Bajaj bike as per your preference ? Attributes Respondents responses out of 200 Percentage (%) Price 193 23.74 Mileage 186 22.88 Stylish look 32 3.94 Pickup 6 0.74 Engine Capacity 171 21.03 Colors 10 1.23 Maintenance cost 180 22.14 Brand image 24 2.95 Comfortable ride 11 1.35 Total 813 100
  21. 21. Q. Percentage of Customer Satisfaction towards different attributes of Bajaj bikes. Attributes Highly satisfied (%) Satisfied (%) Average (%) Dis- satisfied (%) Highly dissatisfied (%) Price 2 57 29 10 2 Mileage 3 49.5 40.5 5 2 Look & Style 5.5 37 46.5 8 3 Pickup 5.5 48 36.5 5 5 Engine capacity 4.5 52 31.5 8 4 Colors 14.5 39.5 38.5 5 2.5 Maintenance cost 8 31.5 43 14 3.5 Brand image 5.5 39.5 45 6.5 3.5 Resale value 0 3 33.5 54.5 9 Comfortable ride 11.5 37 43 5.5 3 After sales services 0 2.5 22.5 67.5 7.5
  22. 22. 2) Problem you faced while using the vehicle Criteria No. of respondent Percentage (%) Starting trouble 35 17.5 Mileage problem 14 7 Pickup 24 12 Battery problem 127 63.5 Total 200 100
  23. 23. Hypothesis P value significance level (0.05) Result H0: There is no association between customer monthly income and mileage attribute of Bajaj bikes. H1: There is association between customer monthly income and mileage attribute of Bajaj bikes. 0.020 Rejected H0: There is no association between customer satisfaction towards price and customer monthly income. H1: There is association between customer satisfaction towards price and customer monthly income. 0.118 Fail to Rejected Chi-Square test
  24. 24. H0: There is no association between customer satisfaction towards comfortable ride and customer occupation. H1: There is association between customer satisfaction towards comfortable ride and customer occupation. 0.326 Fail to Rejected H0: There is no association between customer satisfaction towards look & style and customer age. H1: There is association between customer satisfaction towards look & style and customer age. 0.027 Rejected H0: There is no association between customer satisfaction towards brand image and customer occupation. H1: There is association between customer satisfaction towards brand image and customer occupation. 0.482 Fail to Rejected Conti…..
  25. 25. H0: There is no association between customer education and maintenance cost attribute of Bajaj bike. H1: There is association between customer education and maintenance cost attribute of Bajaj bike. 0.066 Fail to Rejected Conti…..
  26. 26. Findings • Majority of respondents are prefer Bajaj bike for their price, mileage, maintenance cost, and engine capacity. • The study reveals that 57% of the respondents are satisfied with price; while 10% of the respondents are dissatisfied with the price of Bajaj bikes. • As per survey, 52% of the respondents are satisfied with engine capacity of Bajaj bike. • The study reveals that majority of respondents are dissatisfied with resale value and after sales services provided by Bajaj. • The study reveals that majority of the respondents are said average and majority of the respondents are satisfied with the mileage, look & style, pickup, colors, maintenance cost, and brand image of Bajaj bikes. • Majority of the respondents are facing battery problem while using Bajaj bike. • The study reveals that 95% of the respondents are said Bajaj bike is good comparing to other bikes; but only 5% of the respondents are said Bajaj has need to improve.
  27. 27. • From Chi-square test finding that there is association between customer satisfaction towards look & style and customer age. • From Chi-square test finding that there is association between customer monthly income and mileage attributes of Bajaj bikes. • From Chi-square test finding that there is no association between customer satisfaction towards brand image and customer occupation. • From Chi-square test finding that there is no association between customer satisfaction towards price and customer monthly income. • From Chi-square test finding that there is no association between customer satisfaction towards comfortable ride and customer occupation. • From the Chi-square finding that there is no association between customer education and maintenance cost attribute of Bajaj bikes. Conti…..
  28. 28. Conclusion From the research work it concludes that majority of the customer prefer Bajaj bikes for price, mileage, maintenance cost, and engine capacity. Bajaj need to improve on battery of their bikes; because buyers have facing this problem while using the vehicle. Bajaj doing very well on its durability of bikes, comfortable ride, and after sales services for increases their sales. Most of buyers are satisfied with the price, mileage, look & style provided by Bajaj. Look & style of bike is associated with age of buyers.
  29. 29. Bibliography Websites • 15 6 2015 <http://www.dmnews.com/digital-marketing/tailor-marketing- strategies-to-customer-preferences/article/208054/>. • 15 6 2015 <http://study.com/academy/lesson/what-is-customer- satisfaction-definition-examples-quiz.html>. • 20 6 2015 <http://www.companiesandmarkets.com/MarketInsight/Automotive-and- Parts/Global-Motorcycle-Market/NI8576>. • 20 6 2015 <http://www.autocarpro.in/analysis-sales/india-sales-analysis- february-2015-7829#sthash.gpnBExoP.dpuf>. • 22 6 2015 <http://www.autocarpro.in/analysis-sales/india-sales-analysis- february-2015-7829>. • www.acedemic.edu. 25 6 2015.
  30. 30. Journals • Balasubramani S, Suganthi M , Suresh P. "An Empirical Study on Consumer Preference Towards Hyundai Cars in Salem City." INDIAN JOURNAL OF RESEARCH (2013). • Balasubramani S, Suganthi M, Suresh P. "An Empirical Study on Consumer Preference Towards Hyundai Cars in Salem." INDIAN JOURNAL OF RESEARCH (2013). • Bateson, John E. G. "Customer satisfaction towards Car manufacturer." International Journal of Multidisciplinary Research (June, 2012). • Dr. K. Ravichandran, K. Venkatesh, Dr. R. Muruganandham. "A STUDY ON THE CUSTOMER PREFERENCES OF CAR." International Journal in Multidisciplinary and Academic Research (SSIJMAR) (n.d.). • Dr. Mrs. PUNITHAVATHY PANDIAN, A ARUNACHALA RAJAN. "A Study on Analysis of the Customer Satisfaction Level Towards the Use of Bajaj Bikes With Special Reference to Tirunelveli Town, Tamilnadu." INDIAN JOURNAL OF RESEARCH (2014). • Dr. N.Yesodha Devi, Mrs. C.Gomathy, Mrs.R.Krishnakumari. "A Study on Consumer Preference and Satisfaction towards Sedan Cars in Coimbtur City." International Research Journal of Business and Management – (2013). • Jani, Kerav Pandya & H. J. "Customer Satisfaction among Two-Wheeler Users An Indian experience – with special reference to motorcycle users." SIES Journal of Management (2011). • Balasubramani S, Suganthi M , Suresh P. "An Empirical Study on Consumer Preference Towards Hyundai Cars in Salem City." INDIAN JOURNAL OF RESEARCH (2013). Conti…..
  31. 31. • Balasubramani S, Suganthi M, Suresh P. "An Empirical Study on Consumer Preference Towards Hyundai Cars in Salem." INDIAN JOURNAL OF RESEARCH (2013). • Bateson, John E. G. "Customer satisfaction towards Car manufacturer." International Journal of Multidisciplinary Research (June, 2012). • Dr. K. Ravichandran, K. Venkatesh, Dr. R. Muruganandham. "A STUDY ON THE CUSTOMER PREFERENCES OF CAR." International Journal in Multidisciplinary and Academic Research (SSIJMAR) (n.d.). • Dr. Mrs. PUNITHAVATHY PANDIAN, A ARUNACHALA RAJAN. "A Study on Analysis of the Customer Satisfaction Level Towards the Use of Bajaj Bikes With Special Reference to Tirunelveli Town, Tamilnadu." INDIAN JOURNAL OF RESEARCH (2014). • Dr. N.Yesodha Devi, Mrs. C.Gomathy, Mrs.R.Krishnakumari. "A Study on Consumer Preference and Satisfaction towards Sedan Cars in Coimbtur City." International Research Journal of Business and Management – (2013). • Jani, Kerav Pandya & H. J. "Customer Satisfaction among Two-Wheeler Users An Indian experience – with special reference to motorcycle users." SIES Journal of Management (2011). • John, Mrs. Beena and Dr. S. Pragadeeswaran. "A STUDY OF SMALL CAR CONSUMER PREFERENCE IN PUNE CITY." Asian Journal of Marketing & Management Research (2013). • Kavita Dua, Savita. "STUDY OF CUSTOMER SATISFACTION WITH REFERENCE TO TATA MOTOR PASSENGER VEHICLES." International Journal of Advanced Research in Management and Social Sciences (n.d.). Conti…..
  32. 32. • Mahalakshmi, Mrs.G. "CUSTOMER SATISFACTION ON TWO WHEELERS A SPECIAL REFERENCE WITH TVs XL IN THENI DISTRICT." INTERNATIONAL RESEARCH JOURNAL OF MANAGEMENT AND COMMERCE (2014). • Ms. Ameer Asra Ahmed, Dr. M.S. Ramachandra, Mr. Siva Nagi Reddy. "A STUDY ON CUSTOMER SATISFACTION LEVEL OF ROYAL ENFIELD BULLET." International Journal of Business and Administration Research Review (2104). • Ms.M.Shanthini Devi, Ms.S.Arunpriya. "A Study on Customer Satisfaction Towards Tata Nano Car with Special Reference to Coimbatore City." GRA - GLOBAL RESEARCH ANALYSIS (2013). • Rao, Dr. Duggani Yuvaraju(PDF-Scholar)& Prof. S. Durga. "Customer Satisfaction towards Honda Two Wheelers." IOSR Journal of Business and Management (IOSR- JBM) (2014). • Saraswathi, S. "Customer Satisfaction on Post-Sales Service with Reference to Two- Wheeler Automobile Industry." Chaitanya Bharathi Institute of Technology (2008). • Saxena, Aman. "Consumer preference and Automobile Market in India." International Journal of Interdisciplinary and Multidisciplinary Studies (IJIMS) (2014). • V. DEVAKI, DR. H. BALAKRISHNAN. "A STUDY ON THE CUSTOMER PREFERENCE TOWARDS HERO TWO WHEELER AFTER TERMINATION OF HERO HONDA." INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT (2013). Conti…..

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