customer attitude and demand pattern of midas treads

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1.1Introduction on the topic- “Customer Attitude and
Demand pattern”
This project is entitled A Study on Customer Attitude and Demand Pattern of Pre-Cured
Tread Rubber of Midas Treads (India) Private Ltd Kottayam. The main objective of the
study is to find out customers attitude towards Midas Treads. The study gives much stress
towards client that is the retreaders and their attitude to the product. The study also mentions
demand pattern of the product and rate their opinion towards Midas Treads. The customers
expectation of product also taken into consideration.
ATTITUDES
Consumer attitude is the study of individuals, groups, or organizations and the processes they
use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy their
needs and wants. It is also concerned with the social and economic impacts that purchasing and
consumption behaviour has on both the individual consumer and on broader
society.[1] Consumer behaviour blends elements from psychology, sociology, social
anthropology, marketing and economics, especially behavioural economics. It examines how
emotions, attitudes and preferences affect buying behaviour. Characteristics of individual
consumers such as demographics, personality lifestyles and behavioural variables such as
usage rates, usage occasion, loyalty, brand advocacy, willingness to provide referrals, in an
attempt to understand people's wants and consumption are all investigated in formal studies of
consumer behaviour. The study of consumer behaviour also investigates the influences, on the
consumer, from groups such as family, friends, sports, reference groups, and society in general.
The study of consumer attitude is concerned with all aspects of purchasing behaviour - from
pre-purchase activities through to post-purchase consumption and evaluation activities. It is
also concerned with all persons involved, either directly or indirectly, in purchasing decisions
and consumption activities including brand-influencers and opinion leaders. Research has
shown that consumer behaviour is difficult to predict, even for experts in the field.[4] However,
new research methods such as ethnography and consumer neuroscience are shedding new light
on how consumers make decisions.
Customer relationship management (CRM) databases have become an asset for the analysis of
customer behaviour. The voluminous data produced by these databases enables detailed
examination of behavioural factors that contribute to customer re-purchase intentions,

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consumer retention, loyalty and other behavioural intentions such as the willingness to provide
positive referrals, become brand advocates or engage in customer citizenship activities.
Databases also assist in market segmentation, especially behavioural segmentation such as
developing loyalty segments, which can be used to develop tightly targeted, customized
marketing strategies on a one-to-one basis
Consumer attitudes are a composite of a consumer’s (1) beliefs about, (2) feelings about, (3)
and behavioral intentions toward some object--within the context of marketing, usually a brand
or retail store. These components are viewed together since they are highly interdependent and
together represent forces that influence how the consumer will react to the object.
Beliefs. The first component is beliefs. A consumer may hold both positive beliefs toward an
object (e.g., coffee tastes good) as well as negative beliefs (e.g., coffee is easily spilled and
stains papers). In addition, some beliefs may be neutral (coffee is black), and some may be
differ in valance depending on the person or the situation (e.g., coffee is hot and stimulates--
good on a cold morning, but not good on a hot summer evening when one wants to sleep). Note
also that the beliefs that consumers hold need not be accurate (e.g., that pork contains little fat),
and some beliefs may, upon closer examination, be contradictory (e.g., that a historical figure
was a good person but also owned slaves).

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Since a consumer holds many beliefs, it may often be difficult to get down to a “bottom line”
overall belief about whether an object such as McDonald’s is overall good or bad. The
Multiattribute (also sometimes known as the Fishbein) Model attempts to summarize overall
attitudes into one score using the equation:
That is, for each belief, we take the weight or importance (Wi) of that belief and multiply it
with its evaluation (Xib). For example, a consumer believes that the taste of a beverage is
moderately important, or a 4 on a scale from 1 to 7. He or she believes that coffee tastes very
good, or a 6 on a scale from 1 to 7. Thus, the product here is 4(6)=24. On the other hand, he
or she believes that the potential of a drink to stain is extremely important (7), and coffee fares
moderately badly, at a score -4, on this attribute (since this is a negative belief, we now take
negative numbers from -1 to -7, with -7 being worst). Thus, we now have 7(-4)=-28. Had
these two beliefs been the only beliefs the consumer held, his or her total, or aggregated,
attitude would have been 24+(-28)=-4. In practice, of course, consumers tend to have many
more beliefs that must each be added to obtain an accurate measurement.
Affect. Consumers also hold certain feelings toward brands or other objects. Sometimes these
feelings are based on the beliefs (e.g., a person feels nauseated when thinking about a
hamburger because of the tremendous amount of fat it contains), but there may also be feelings
which are relatively independent of beliefs. For example, an extreme environmentalist may
believe that cutting down trees is morally wrong, but may have positive affect toward
Christmas trees because he or she unconsciously associates these trees with the experience that
he or she had at Christmas as a child.
Behavioral Intention. The behavioral intention is what the consumer plans to do with respect
to the object (e.g., buy or not buy the brand). As with affect, this is sometimes a logical
consequence of beliefs (or affect), but may sometimes reflect other circumstances--e.g.,
although a consumer does not really like a restaurant, he or she will go there because it is a
hangout for his or her friends.

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Attitude Change Strategies. Changing attitudes is generally very difficult, particularly when
consumers suspect that the marketer has a self-serving agenda in bringing about this change
(e.g., to get the consumer to buy more or to switch brands).
Changing affect. One approach is to try to change affect, which may or may not involve
getting consumers to change their beliefs. One strategy uses the approach of classical
conditioning try to “pair” the product with a liked stimulus. For example, we “pair” a car with
a beautiful woman. Alternatively, we can try to get people to like the advertisement and hope
that this liking will “spill over” into the purchase of a product. For example, the Pillsbury
Doughboy does not really emphasize the conveyance of much information to the consumer;
instead, it attempts to create a warm, fuzzy image. Although Energizer Bunny ads try to get
people to believe that their batteries last longer, the main emphasis is on the likeable
bunny. Finally, products which are better known, through the mere exposure effect, tend to be
better liked--that is, the more a product is advertised and seen in stores, the more it will
generally be liked, even if consumers to do not develop any specific beliefs about the product.
Changing behaviour. People like to believe that their behaviour is rational; thus, once they
use our products, chances are that they will continue unless someone is able to get them to
switch. One way to get people to switch to our brand is to use temporary price discounts and
coupons; however, when consumers buy a product on deal, they may justify the purchase based
on that deal (i.e., the low price) and may then switch to other brands on deal later. A better way
to get people to switch to our brand is to at least temporarily obtain better shelf space so that
the product is more convenient. Consumers are less likely to use this availability as a rationale
for their purchase and may continue to buy the product even when the product is less
conveniently located. (Notice, by the way, that this represents a case of shaping).
Changing beliefs. Although attempting to change beliefs is the obvious way to attempt
attitude change, particularly when consumers hold unfavourable or inaccurate ones, this is
often difficult to achieve because consumers tend to resist. Several approaches to belief change
exist:
1. Change currently held beliefs. It is generally very difficult to attempt to change beliefs
that people hold, particularly those that are strongly held, even if they are inaccurate. For
example, the petroleum industry advertised for a long time that its profits were lower than

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were commonly believed, and provided extensive factual evidence in its advertising to
support this reality. Consumers were suspicious and rejected this information, however.
2. Change the importance of beliefs. Although the sugar manufacturers would undoubtedly
like to decrease the importance of healthy teeth, it is usually not feasible to make beliefs
less important--consumers are likely to reason, why, then, would you bother bringing them
up in the first place? However, it may be possible to strengthen beliefs that favor us--e.g.,
a vitamin supplement manufacturer may advertise that it is extremely important for women
to replace iron lost through menstruation. Most consumers already agree with this, but the
belief can be made stronger.
3. Add beliefs. Consumers are less likely to resist the addition of beliefs so long as they do
not conflict with existing beliefs. Thus, the beef industry has added beliefs that beef (1) is
convenient and (2) can be used to make a number of creative dishes. Vitamin
manufacturers attempt to add the belief that stress causes vitamin depletion, which sounds
quite plausible to most people.
4. Change ideal. It usually difficult, and very risky, to attempt to change ideals, and only few
firms succeed. For example, Hard Candy may have attempted to change the ideal away
from traditional beauty toward more unique self-expression.
One-sided vs. two-sided appeals. Attitude research has shown that consumers often tend to
react more favourably to advertisements which either (1) admit something negative about the
sponsoring brand (e.g., the Volvo is a clumsy car, but very safe) or (2) admits something
positive about a competing brand (e.g., a competing supermarket has slightly lower prices, but
offers less service and selection). Two-sided appeals must, contain overriding arguments why
the sponsoring brand is ultimately superior--that is, in the above examples, the “but” part must
be emphasized.
sustaining an audience is hard,” Bruce Springsteen once said. “It demands a consistency of
thought, of purpose, and of action over a long period of time.” He was talking about his route
to music stardom, yet his words are just as applicable to the world of customer experience.
Consistency may be one of the least inspirational topics for most managers. But it’s
exceptionally powerful, especially at a time when retail channels are proliferating and
consumer choice and empowerment are increasing.
Getting consistency right also requires the attention of top leadership. That’s because by using
a variety of channels and triggering more and more interactions with companies as they seek

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to meet discrete needs, customers create clusters of interactions that make their individual
interactions less important than their cumulative experience. This customerjourney canspan all
elements of a company and include everything from buying a product to actually using it,
having issues with a product that require resolution, or simply making the decision to use a
service or product for the first time.
It’s not enough to make customers happy with each individual interaction. Our most recent
customer-experience survey of some 27,000 American consumers across 14 different
industries found that effective customer journeys are more important: measuring satisfaction
on customer journeys is 30 percent more predictive of overall customer satisfaction than
measuring happiness for each individual interaction. In addition, maximizing satisfaction with
customer journeys has the potential not only to increase customer satisfaction by 20 percent
but also to lift revenue by up to 15 percent while lowering the cost of serving customers by as
much as 20 percent. Our research identified three keys to consistency:
1. Customer-journey consistency
It’s well understood that companies must continually work to provide customers with superior
service, with each area of the business having clear policies, rules, and supporting mechanisms
to ensure consistency during each interaction. However, few companies can deliver
consistently across customer journeys, even in meeting basic needs.
Simple math illustrates why this is so important in a world of increasingly multichannel,
multitouch customer journeys. Assume a customer interacts six times with a pay-TV company,
starting when he or she undertakes online research into providers and ending when the first bill
is received 30 days after service is installed. Assuming a 95 percent satisfaction rate for each
individual interaction—whether measuring responsiveness, the accuracy of information, or
other factors—even this level of performance means that up to one in four customers will have
a poor experience during the on-boarding journey.
The fact is that consistency on the most common customer journeys is an important predictor
of overall customer experience and loyalty. Banks, for example, saw an exceptionally strong
correlation between consistency on key customer journeys and overall performance in
customer experience. And when we sent an undercover-shopping team to visit 50 bank
branches and contact 50 bank call centers, the analysis was confirmed: for lower-performing

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banks, the variability in experience was much higher among a typical bank’s branches than it
was among different banks themselves. Large banks typically faced the greatest challenge.
2. Emotional consistency
One of the most illuminating results of our survey was that positive customer-experience
emotions—encompassed in a feeling of trust—were the biggest drivers of satisfaction and
loyalty in a majority of industries surveyed. We also found that consistency is particularly
important to forge a relationship of trust with customers: for example, customers trusted banks
that were in the top quartile of delivering consistent customer journeys 30 percent more than
banks in the bottom quartile.
What is also striking is how valuable the consistency-driven emotional connection is for
customer loyalty. For bank customers, “a brand I feel close to” and “a brand that I can trust”
were the top drivers for bank differentiation on customer experience. In a world where research
suggests that fewer than 30 percent of customers trust most major financial brands, ensuring
consistency on customer journeys to build trust is important for long-term growth.
3. Communication consistency
A company’s brand is driven by more than the combination of promises made and promises
kept. What’s also critical is ensuring customers recognize the delivery of those promises, which
requires proactively shaping communications and key messages that consistently highlight
delivery as well as themes. Southwest Airlines, for example, has built customer trust over a
long period by consistently delivering on its promise as a no-frills, low-cost airline. Similarly,
Progressive Insurance created an impression among customers that it offered lower rates than
its competitors in the period from 1995 to 2005 and made sure to highlight when it delivered
on that promise. Progressive also shaped how customers interpreted cost-reduction actions such
as on-site resolution of auto claims by positioning and reinforcing these actions as part of a
consistent brand promise that it was a responsive, technology-savvy company. In both cases,
customer perceptions of the brands reinforced operational realities. Such brands generate a
reservoir of goodwill and remain resilient on the basis of their consistency over time in
fulfilling promises and their strong, ongoing marketing communications to reinforce those
experiences.
Becoming a company that delivers customer-journey excellence requires many things to be
done well. But we’ve found that there are three priorities. First, take a journey-based approach.

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For companies wanting to improve the customer experience as a means of increasing revenue
and reducing costs, executing on customer journeys leads to the best outcomes. We found that
a company’s performance on journeys is 35 percent more predictive of customer satisfaction
and 32 percent more predictive of customer churn than performance on individual touchpoints.
Since a customer journey often touches different parts of the organization, companies need to
rewire themselves to create teams that are responsible for the end-to-end customer journey
across functions. While we know there are an infinite number of journeys, there are generally
three to five that matter most to the customer and the business—start your improvements there.
To track progress, effectiveness, and predict opportunities, you may need to retool both metrics
and analytics to report on journeys, not just touchpoint insights.
Second, fix areas where negative experiences are common. Because a single negative experience
has four to five times greater relative impact than a positive one, companies should focus on
reducing poor customer experiences, especially in those areas in which customers come into
contact with the organization most often. For instance, training frontline service representatives
to identify and address specific customer issues through role playing and script guidelines will
go a long way toward engendering deeper customer trust.
Finally, do it now. Our research indicates that since 2009, customers are valuing an “average”
experience less and have even less patience for variability in delivery. In addition, companies
that experience inconsistency challenges often expend unnecessary resources without actually
improving the customer journey. Making additional investments to improve the customer
experience without tightening the consistency of experience is just throwing good money after
bad.

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DEMAND PATTERN
Demand is not a controllable factor; under every situation in different industries, varying
demand situations might be encountered. Through demand management it is possible to
manipulate the demand in your favour. Most organizations in the beginning face varying
demand situations which may not even be favourable to them.
Different types of demand situations
Negative demand: If the market response to a product is negative, it shows that people are not
aware of the features of the service and the benefits offered. Under such circumstances, the
marketing unit of a service firm has to understand the psyche of the potential buyers and find
out the prime reason for the rejection of the service. For example: if passengers refuse a bus
conductor's call to board the bus. The service firm has to come up with an appropriate strategy
to remove the misunderstandings of the potential buyers. A strategy needs to be designed to
transform the negative demand into a positive demand.
No demand: If people are unaware, have insufficient information about a service or due to the
consumer's indifference this type of a demand situation could occur. The marketing unit of the
firm should focus on promotional campaigns and communicating reasons for potential
customers to use the firm's services. Service differentiation is one of the popular strategies used
to compete in a no demand situation in the market.
Latent demand: At any given time, it is impossible to have a set of services that offer total
satisfaction to all the needs and wants of society. In the market, there exists a gap between
desirables and the available. There is always a search on for better and newer offers to fill the
gap between desirability and availability. Latent demand is a phenomenon of any economy at
any given time, it should be looked upon as a business opportunity by service firms and they
should orient themselves to identify and exploit such opportunities at the right time. For
example, a passenger traveling in an ordinary bus dreams of traveling in a luxury bus.
Therefore, latent demand is nothing but the gap between desirability and availability.
Seasonal demand: Some services do not have an all year-round demand, they might be
required only at a certain period of time. Seasons all over the world are very diverse. Seasonal
demands create many problems to service organizations, such as: - idling the capacity, fixed
cost and excess expenditure on marketing and promotions. Strategies used by firms to
overcome this hurdle are like - to nurture the service consumption habit of customers so as to

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make the demand unseasonal, or other than that firms recognize markets elsewhere in the world
during the off-season period. Hence, this presents an opportunity to target different markets
with the appropriate season in different parts of the world. For example, the need for Christmas
cards comes around once a year. Or the, seasonal fruits in a country.
Demand patterns need to be studied in different segments of the market. Service organizations
need to constantly study changing demands related to their service offerings over various time
periods. They have to develop a system to chart these demand fluctuations, which helps them
in predicting the demand cycles. Demands do fluctuate randomly, therefore, they should be
followed on a daily, weekly or a monthly basis.
Consumer demand pattern in price sensitive & developing market
An analysis on consumer demand pattern reveals that consumer demand for a particular product
or service evolves from basic product requirement with minimum or less features to a much-
sophisticated feature, with add-ons, and pre/post sales services. This analysis is more accurate
in price sensitive market.
In a price sensitive market, the consumer demand pattern evolves in a following manner
Initial stage
Infantry market stage when the demand is just started to pick and consumers are willing to try
out the offer, because of one or many reasons like price factor, perception, necessity factor,
marketing influence etc.
1. Entry product/service with basic functionality
2. Minimum or no added features
3. Low and affordable price
Growth stage
After trying with the entry level product consumer is willing to pay some extra of additional
comfort and features. Some of the reasons for these changes are improved economic condition,
positive experience, necessity factor, etc.
1. Increased functionality
2. Improved quality
3. Low to medium price
4. After sales service

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Harvesting stage
After consuming the product and having a positive experience, at this stage consumer is willing
to pay the premium for the added value.
1. Maximum functions
2. Premium quality and price
3. Pre-and post-sales services
4. Value added features
To manage fluctuating demand in a service business, it is imperative to have a clear
understanding of demand patterns, why they wary, and the market segments that comprise
demand at different points in time.
1. Charting Demand Patterns:
First, the organization needs to chart the level of demand over relevant time periods.
Organizations that have good computerized customer information systems can do this very
accurately. The others may need to chart demand patterns more informally.
2. Predictable Cycles:
In looking at the graphic representation of demand levels, is there a predictable cycle daily
(variations occur by hours), weekly (variations occur by day), monthly (variations occur by the
month), and/or yearly (variations occur according to months or seasons)?
If there is a predictable cycle, what are the underlying causes? This can help a service provider
in dealing with the customers in a much better way.
3. Random Demand Fluctuations:
Sometimes the patterns of demand appear to be random—there is no apparent predictable
cycle. Yet even in this case, causes can often be identified. For example. day to-day changes
in the weather may affect use of recreational, shopping, or entertainment facilities. Although
the weather cannot be predicted far in advance, it may be possible to anticipate demand a day
or two ahead. Health-related events also cannot be predicted. Accidents, heart attacks, and
births all increase demand for hospital services, but the level of demand cannot generally be

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determined in advance. Natural disasters such as floods, fires, and hurricanes can dramatically
increase the need for such services as insurance, telecommunications, and health care. Acts of
war and terrorism such as that experienced in the United States on September 11, 2001, general
instantaneous need for services that can’t be predicted.
AT&T was faced with a sudden increase in demand for services to the mi1i during the Gulf
War. During this period, 500,000 U.S. troops were deployed to the Middle East, many without
advance warning. Before their deployment these men and women had little time to attend to
personal business, and all of them left behind concerned family and friends. With mail delivery
between the United States and the Middle East taking more than six weeks, troops needed a
quick way to communicate with their families and to handle personal business.
Communications with home were determined by the military to be essential to troop morale.
AT&T’s ingenuity. responsiveness, and capacities were challenged to meet this unanticipated
communication need. During and after the Gulf War crisis more than 2.5 million calls were
placed over temporary public phone installations, and AT&T sent more than 1.2 million free
to family and friends of service men and women.
4. Demand Patterns by Market Segment:
If an organization has detailed records on customer transactions, it may be able to disaggregate
demand by market segment, revealing patterns within patterns. Or the analysis may reveal that
demand from one segment is predictable while demand from another segment is relatively
random.
For example, for a bank, the visits from its commercial accounts may occur daily at a
predictable time, whereas personal account holders may visit the bank at seemingly random
intervals. Health clinics often notice that walk-in or “care needed today” patients tend to
concentrate their arrivals on Mon day, with fewer numbers needing immediate attention on
other days of the week. Knowing that this pattern exists, some clinics schedule more future
appointments (which they can control) for later days of the week, leaving more of Monday
available for same-day appointments and walk-ins.

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1.2 PROBLEM STATEMENT
The purpose of the project is to analyze in the fluctuation of demand, customers attitude and
satisfaction level of customers towards Midas Precured tread Rubber. Profit earning has
become one of the important objectives of each and every company It is very easy to attract
new customers but retaining old customer is too difficult only the satisfied customer will
remain loyal to the firm brands. A person enters a showroom when he wants to purchase tread,
but before purchasing tyres he consults so many persons about tyre. Like about price, quality,
service etc., and then he makes decision to purchase.

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1.3 OBJECTIVES OF THE STUDY
 To understand and analyze the customers attitude towards Midas Precured Treads
 To know the satisfaction level of customer towards Midas Precured Treads
 To know the attributes that influence customer prefer Midas Precured Treads
 To find out the demand pattern of customers towards Midas Precured Treads

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1.4 SIGNIFICANCE OF THE STUDY
 Helps to know the reason for the customer brand performance
 Helps to find out the customer attitude towards Midas Pre-Cured Treads
 Helps to collect information relating to competitor’s market
 Help to collect opinion about Midas Pre-Cured Treads

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2.1 INDUSTRY PROFILE
The Indian Rubber Industry, now 9 decades old has become the third largest of the nation
after Steel and Textile Industry. Rubber natural synthetic and reclaim constitute the major and
the most important raw material of the vital rubber industry and hold a strategic position in
the company's economy. Tyres and tyre products are made out of rubber and they are
manufactured by the moulding method. Tyres are used in vehicles for comfortable ride and
low power consumption.
TYRE INDUSTRY
Ever since the invention of vehicles has taken place, man's quest to reach higher heights
started from circular stones to pneumatic tyres. All the phases reflect man’s inventing
capacity. In the 19th century the tyres was invented from solid rubber tyre. Cotton Pneumatic
tyre to Nylon Pneumatic tyre to Radicalized tyre, we have grown in the last hundred years
which gives man's ever upgrading his invention capacity
The origin of the Indian Tyre Industry dates back to 1926 when Dunlop Rubber Limited set
up the first tyre company in West Bengal. MRF followed suit in 1946. Since then, the Indian
tyre industry has grown rapidly. Transportation industry and tyre industry go hand in hand as
the two are interdependent. Transportation industry has experienced 10% growth rate year
after year with an absolute level of 870-billion-ton freight. With an extensive road network
of 3.2 million km, road accounts for over 85% of all freight movement in India. The tyre
industry is a major consumer of the domestic rubber production. Natural rubber constitutes
80 per cent of the material content in Indian tyres. Synthetic rubber constitutes only 20 per
cent of the rubber content of a tyre in India. Worldwide, the ratio of natural rubber to synthetic
rubber is 30:70. Apart from natural and synthetic rubber, rubber chemicals are also widely
used in tyres.
The Indian Tyre Industry is an integral part of the Auto Sector and its fortunes are
interdependent on those of the Automobile players. While there are around 40 tyre
manufacturers in India, the top 10 tyre players account for around 90-95% of the total tyre
production in India. Major players are MRF, JK Tyres, and Apollo Tyres & CEAT, which

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account for 63 per cent of the organized tyre market. The other key players include Modi
Rubber, Industries and Goodyear India, with I l per cent, 7 per cent and 6 per cent share
respectively. Dunlop, Falcon, Tyre Corporation of India Limited (TCIL), TVS-Srichakra,
Metro Tyre and Balkrishna Tyres are some of the other significant players in the industry
While the tyre industry is largely dominated by the organized sector, the unorganized sector is
predominant with respect to bicycle tyres. The industry is a major consumer of the domestic
rubber market. Natural rubber constitutes 80% while synthetic rubber constitutes only 20% of
the material content in Indian tyres. Interestingly, worldwide, the proportion of natural to
synthetic rubber in tyres is 30:70. The sector is raw-material intensive, with raw material
accounting for 70% of the total costs of production. Current level of radialization includes 95%
for all passenger car tyres, 12% for light commercial vehicles and 3% for heavy vehicles (truck
and bus). Restrictions were placed on import of used (retreaded tyres since April 2006. Import
of new tyres & tubes is freely allowed, except for radial tyres in the truck/bus segment which
has been placed in the restricted list since November 2008. Total value of tyre exports from
India is approximately Rs 4000 crore (2010-2011).
Based on the customer segments, the tyre market can be broadly divided into two categories
— Original Equipment Manufacturers (OEM), and Replacement Market
1. Original Equipment Manufacturers —This includes automobile manufacturers like — Hero
Honda, Maruti Suzuki, Ashok Leyland, Tata Motors etc. The demand from the OEM market
fluctuates directly in line with end-use demand for the automobile/construction equipment
segment; it is thus prone to a high degree of cyclicality. The total tyre sales to OEMs are on an
average 40-45% of the total sales
2. Replacement Market — These are the end customers who replace old tyres of their vehicles.
Replacement demand for tyres depends on on-road vehicle population, road conditions, vehicle
scrap page rules, overloading norms, retreading intensity and miles driven. It is less cyclical
than OEM demand and is generally a higher-margin business for tyre manufacturers. On an
average, replacement market accounts for 45-50% of the total sales
In 2016 global tyre market reached USD 150 Billion, which is expected to grow further till
2017. The Indian tyre market has shown robust growth in 2011 and is further expected to
continue its thrust and grow at a CAGR of around 14% till 2017 due to increasing number of
automobile sales in the country. With extremely low automobile market penetration and

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increasing disposable income in the country is driving the demand for tyres. The new entrants
are showing their products differently in terms of value and sophisticated production
technology. Till the end of 201 1, MRF was leading the market with majority tie ups with
automobile companies followed by Apollo, JK tyres and others. However, the market share
trends are expected to encounter strong changes from the current trend by 2017 which would
lead the market dynamics to new heights.
THE RETREADING INDUSTRY
In the 19th century the tyres was invented from solid rubber tyre. The Second World
War widened this scope of rubber and gave birth to the art of raw rubber and sunk the tyre in
the desert and when due to heat got vulcanized and in site for retreading has opened up in a
new tyre. The area which comes in to contact with the road is called tread position. This means
out due to the friction between roads and tyres. This constitutes to 10 to 15 percent of the total
tyre and hence with the tread wears out there is need for the total tyre is not discarded. Giving
new life for the worn out tyre by applying the treading process now widely accepted all over
the world.
Retreading (replacement) is the recycling of tyres. Sound casings which are undamaged, and
which have retained their strength by being used at correct loads and pressures are selected.
The old tread remaining is buffed off and new tread rubber is securely bonded to the casing in
a method similar to the manufacture of a new tyre. with proper maintenance and care a
retreaded tyre can provide the same amount of service as a comparable new tyre. A retreaded
tyre, properly maintained, is much safer and far more reliable than a bald or near bald tyre, a
damaged or mismatched tyre, a tyre injured by age, lack of air pressure or overheating. In the
manufacture of a new tyre, approximately 75%-80% of the manufacturing cost is incurred in
tyre body and remaining 20%-25% in the TREAD, the portion of the tyre which meets the
road surface. Hence, by applying a new TREAD over the body of the worn tyre, a fresh lease
of life is given to the tyre, at a cost which is less than 50% of the price of a new tyre. This
process is termed as 'tyre retreading'. However, the body of the used tyre must have some
desirable level of characteristics to enable retreading. Retreading cannot also be done if the
tyre has already been over used to the extent that the fabric is exposed/ damaged. Retreading
could be done more than once.

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India’s retreading industry is estimated to be worth more than US$ 1 billion (INR 5,000 crore
annually) with roughly 20,000 retreaders scattered in the organised and unorganised sector.
Despite its sheer size in terms of value and volumes, there have historically been no serious
efforts made to form a pan Indian retreading industry body that speaks on behalf of the industry
in an era when it has become increasingly fashionable to show concern about the environment
without making any serious efforts to improve it.
With the changing times, a small number of stakeholders took the initiative and met on
13th January 2017 at Googli Hall of Mumbai Cricket Association Recreation Centre in Mumbai
to form a retreading association.
“We need an industry association to build awareness among policy makers of the vital role
played by the industry in recycling as well as in facilitating and co-operating on matters
affecting the industry,” said Karun Sanghi, MD, Tyresoles India Pvt Ltd. Sanghi hosted the
conclave and chaired the inaugural discussion to form the representative body attended by
around 35 retreaders, tread makers, equipment manufacturers and suppliers. Three names were
shortlisted for the association – Indian Retreading Association, Indian Tyre Retreading
Association and Tyre Retreading Association of India.
“The name ‘Indian Tyre Retreading Association’ has been finally approved by the Government
of India, Ministry of Corporate Affairs. We have already started the process of the formation
of the association under Section 8 of the Company’s Act,” informed Sanghi.
The association will be headed by a board consisting of a Chairman, three Vice-Chairmen (one
each from retreading, machinery & allied, and the tread rubber industry) with five directors
(three retreaders, one machinery & allied, and one tread rubber) of which one will be a Finance
Director. Executive director will be a paid post with no voting rights. The board meetings will
be held a minimum of twice in a year, but the idea is to have a minimum four meeting annually.
The Board will be functional for 3 years, after which it will be dissolved and new members
will be appointed / elected.
It has been mandatory for a member to pay various taxes levied by the government. The
objective is to have members with credible credentials and operating as responsible
organisations as per government regulations and not as fly-by-night operators. The members
must be related to the tyre retreading industry and hold various and minimum INR 500,000
VAT/Service Tax paid in previous year.

22
Four categories of memberships are being offered - Patron Member (renewal once after every
10 years) – Fees of INR 500,000 onetime + INR 50,000 yearly. The second category is Life
Member (renewal once after every 10 years) - Fees of INR.300,000 onetime + INR 25,000/-
annually, while an Ordinary Member has to renew membership for INR 6,000 yearly. Affiliate
overseas Member is also offered for US$ 250 annually with no voting rights.
TYPES OF RETREADING
A) CONVENTIONAL PROCESS (also known as 'mould cure' or 'hot cure' process) - In this
process an till-vulcanized rubber strip is applied on the buffed casing of the tyre. This strip
takes the pattern of the mould during the process of vulcanization
B) PROCURE PROCESS (also known as 'cold cure') - in this process a tread strip, where
the pattern is already pressed and precure is applied to the casing. It is bonded to the casing
by means of a thin layer of specially compounded uncured rubber (known as cushion or
bonding gum) which is vulcanized by the application of heat, pressure and time.
Advantages of retreading;
Retreading saves money- when a retread gets worn out the tyre won't be discarded. Like
resoling a pair of shoes, for just 1/5th of the cost of new can retread our tyre. Retreading
absolutely safe and reliable those even aircraft tyre are now retread without subjecting the tyre
to high stress was earlier.
Other benefit
 More mileage
 Less possibility of punctures
 Less down time

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RETREADING INDUSTRY IN INDIA
Tire retreading is an established industry that began in the early 1900s and grew steadily.
Replacement segment is the largest at 65% of the total Indian tyre industry. . Major players in
the retreading industry include Elgi, Indag, MRF, Sundaram Industries, Annamalai Tyre
retreading Corporation and Staines Tyres. These companies, among themselves, control 60%
of the market share in the retreading business and the rest is with the unorganised sector. Most
of the major players have technological collaborations with overseas players. So, process-wise,
Indian standards are comparable to that of international players. The industry has been growing
at a rate of 15% annually. In India nearly 85 per cent of the total tyre demand in the country is
for replacement. This anomaly has placed the retreaders in a better position than the tyre
manufacturers. Retreading is looming over the tyre industry as a colossal threat. The
Coimbatore based Elgi Tyres and Tread Ltd., the largest retreader in India, is giving the lyre
barons sleepless nights. Most ot the transporters in India retread their tyres twice during its
lill:time, while a few fleet owners even retread thrice. In their zealousness to economisc costs,
they overlook the reality that retreading reduces the quality of the tyre. Il is highly popular in
the South unlike in the North where the transporters overload their trucks and have to ply their
vehicles in a rough terrain an environment in which buying a new lyre is the best option. The
present all India pattern, by type or retreading, is Precured - 50% and Conventional 50%.
Retreading is primarily done in the Truck and Bus trye segment. On an average a Truck/Bus
trye is retreaded 1.5 times. Truck lyre retreading is now a major part of the retreading industry
in India. Percentage of each category is retreaded.
Tyre retreading in the commercial vehicle segment is poised for growth in the future. This
growth will be aided by the following favorable factors and major developments taking place:
 Increased level of Radialization in the commercial vehicle segment (due to reduced
incidence of overloading of commercial vehicles);
 Growth in and increased share of multi-axle trucks (with the catching up of the
concept of 'hub & spoke' transportation, long distance movement of road freight will
be by multi-axle trucks whereas distances within and around the cities will be catered
by smaller commercial vehicles);

24
CHALLENGES FOR RETREADERS
The increase in natural rubber and oil prices and the casing shortages are some of the
challenges for retreaders, according to David Stevens, Managing Director, Tire Retread &
Repair Information Bureau (TRIB). Stevens says radialization will affect the tyre retreading
industry as improved mileage; rolling resistance and tread wear from radial tyres slowly
change consumer perception and purchase habits. As a result of these improvements, radial
tyres will be driven much longer before needing to be retreaded compared to bias-ply tyres
which will impact overall retread volumes. On the positive side, retreaders will have higher
quality casings that can be successfully retreaded multiple times compared to one time for
bias-ply tyres. This will ultimately lead to better quality and longer-lasting retreaded tyres
that continue to build customer confidence in their use, he says.
We also need to continue our investment in technology and make sure we adhere to certain
production standards during this period of tight casing availability," he says. Harvey
Brodsky, Managing Director, Retread Tire Association (RTA), considers quality as the key
factor that would boost the tyre retreading industry in future. "Once the motoring public is
convinced that top quality retreads will perform as well as comparable new tyres, but at a
far lower price, retreads will gain more acceptability. Everyone in our industry has an
obligation to produce the best retread on the best casing using the best materials every single
time. Otherwise they should get out of the industry," he told Rubber Asia.
He feels that radialisation, as it has already done in North America and many other parts of
the world, will drive many smaller retreaders out of business because of the high investment
required to convert from retreading bias tyres to radials. Many small retreaders using
primitive equipment will simply not be able to retread radials with their existing equipment.
Unless they are willing and able to upgrade their plants by making the necessary
investments, they will fall by the wayside, he warns.

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AREAS FOR IMPROVEMENT
Although the retread manufacturers have absorbed the technology and are in a position to
produce quality product, there are many areas where efforts can be made to improve the
performance, Manufacturers should aim at achieving improvement in enhanced life
performance; that is, enhanced life from around 70% to 80% of that of the new tyre to 95%
to 100% by leveraging technology. They should also make efforts towards extension of the
application to cars, jeeps and motor cycle tyres.
The precured retread industry also has to keep up with the fast pace of radialisation. By the
time the radial tyres penetrate and have adequate population, the industry should be ready to
provide efficient servicing support.
Greater public awareness has to be created about the advantages of retreading like low
cost and enhanced life as well as about technical specifications like how many times tyres can
be retreaded. Although the factors responsible for the rise in raw material cost may be beyond
the control of the Government, it can still help the retreading industry by offering tax cuts and
incentives for technology up gradation, feel retreaders.
RETREADS AND THE ENVIRONMENT
Remanufacturing worn tyres is a true recycling industry which saves a large amount of oil
based resources, and is the most economical and environmentally friendly way to help dispose
of the massive waste tyre problem. While it takes about 7 gallons of crude oil to manufacture
one new passenger tyre, a retreaded tyre requires only 2.5 gallons. The savings in truck tyre
retreading is even greater. Each year, we save thousands of gallons of crude oil by buying
retreaded tyres. In today's oil-scarce world, this saving is extremely important. You can't get
rid of tyres unless you burn them, which causes pollution. Thus it makes a lot of sense to
retread, rather than to add more tyres to the already overflowing land-fills. It is estimated that
in excess of 10 million worn or scrap tyres are disposed of annually. Count up how many
people travel on retreaded tyres every day.

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2.2 COMPANY PROFILE
ABOUT MIDAS GROUP- STANDARD TREADS
Sir George Varghese, a creative thinker and industrialist, who organized the importance of
retreading well before the retreading become popular in common. He founded the present
MIDAS PRE-CURED PRIVATE LIMITED, the ladder in the field of procured treads and
conventional treads in the present scenario. Mr. George Varghese presently held the MIDAS
GROUP was stared as a small tread rubber unit in Ettumanoor industrial estate in Kottayam
district, which is known as "The Rubber Land of Kerala" (Kottayam district is the highest
producer of natural rubber in India). Mr. George Varghese started his small unit in1969, with
an investment of Rs 65000, with his dynamic leaderships and innovative ideas, he horned his
small unit into a leader in the field in 1985 july3 1st. MIDAS PRE-CURED PRIVATE
LIMITED was established as a small-scale unit at Ettumanoor. This was a landmark of present
MIDAS group. Since then Midas has been supplying tread rubber, pre-cured tread rubber and
other retreading materials in India. Besides India, MIDAS currently has satisfied customers all
over the world from South America to Africa and from Europe to Australia. Currently, Midas
is manufacturing about 2,500 tons of tread rubber every month. With increasing demand in the
domestic and global market, Midas plans to double the manufacturing capacity to about 5,000
tons per month in the next two or three years
The origin and base root of the present Midas group can be traced back to the year 1884, with
the launching of a company named P. John Zachariah and Co Ltd with a share capital of Rs.400.
Today the Midas group consists of over 40 companies spread over Kerala, Tamil Nadu, and
Pondicherry etc. It has mainly engaged in the manufacturing of pre-cured tread rubber. Now
the company is medium scale unit. The introduction of pre-cured trade in India made MIDAS
in forefront with the availability of best raw materials that is the natural rubber.
Midas produce world class rubber products such as pre-cured rubber, camel's back tread,
vulcanizing cement, cushion gum, curing bags and curing envelops, rope rubber and bonding
gum etc. The high-quality control maintained effectively at every stage, makes MIDAS
products much above the lines of normal standards. Now the company has got 36 tread rubber
manufacturing units; 26 in Kerala, 8 in Pondicherry and 2 in Tamil Nadu, having group
turnover 100 crores. India's largest rubber computing unit belongs to MIDAS GROUP. Midas
rubber Private limited, the firm's rubber compounding unit is currently the largest in India and

27
supplies rubber compounds to India's major tyre companies like Apollo tyres, CEAT, J.K Tyres
etc.
The firm has an efficient marketing network that markets the products all over India as well as
abroad. The Midas Company produces 2500 tons in the tread rubber division per month. Midas
marketing and management services coordinate its marketing and management functions,
having an excellent marketing network all over India and in the international market. The major
revenue for the group is from the sale of pre-cured tread rubber and its market is entirely outside
Kerala. Eighty per cent of Midas production is consumed in the domestic market and the
balance is shipped abroad. Midas operates with a dealer network of about 55 dealers in India
and ten in the international market. Midas exports about 350 tones every month and may
increase the export volumes further as it has made some major breakthroughs in some new
territories.
MIDAS TREADS PVT LTD
Midas Treads pvt ltd is one among over 40 companies in the Midas Group of companies. The
main objective of the company is to manufacture and market tread rubber, cushion gum and
repair materials for tyre retreading activity. The company has proven capability to supply
customized rubber compounds, this company was established in the year 2000 with a capacity
of 2000 tons per month. The company is processing compounds for the main customer CEAT
Ltd. Midas Treads Pvt Ltd is rated as the number one mixing unit by CEAT.
Office address
MIDAS TREADS PVT. LTD.
V/796A, Mariathuruthu P.O Varissery Junction,
Kottayam, Kerala 686017
PHILOSOPHY OF THE COMPANY
The company believes that the only way to give customer ever improving quality and economy
is the courage to exponent with every aspect of production from inputs to process. With the
best raw materials from all over the world and quality natural rubber close at hand MIDAS
products world class rubber products.

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Objectives of the company
 To maintain optimum level of efficiency and productivity and to secure optimum
returns
 To continuously upgrade the quality of human organizational development.
 To ensure corporate growth by expansion and diversification.
 To care for the community around.
 To maximize profits from projects taken up.
Mission of the company
 To maximize the return on investment.
 To remain a leading producer of retreading materials in India.
 To continuously grow in business and become a significant player in world market.
 To achieve international level of excellence in technology and quality.
Vision of the company
The Vision of the firm is to increase its market share in the near future. It gives prime
importance to the quality aspect of the product and believes that consistency In sales and
service can help them to achieve its vision.

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2.3 PRODUCT PROFILE
MIDAS made to the strictest quality standards. Formulation for all products are developed to
suit the exact requirement of the customer. A heavy investment in R&D has also given an
access to the best testing equipment available for testing, quality control and development.
PRODUCTS
1.PRE-CURED TREADS: - It is available in various designs and sizes to suit individual
needs. Width ranges from 84 mm to 320 mm for all types of vehicles. The tread is made from
high mileage compounds.
2. CURING ENVELOPES: - These envelopes are designed for durability to help retreaders
reduce their cost per cure. It is heat resistant and easy to use.Midas has envelopes suitable for
retreading both radial lyres and bias tyres.
3.CURING BAGS: - Butyl curing bags specially designed to maximize cures. It is made out
of finest exported Butyl Rubber.
4.TYRE FLAPS: - Designed for retreading applications to be heat resistant and durable. These
flaps help in protecting the tube from direct contact with the metal rim.
5.BLACK RUBBER COMPOUND: - The Midas range of products now offers compounds
made to suit the customer specifications. It also includes off-the-shelf standard tread rubber
compounds. This product extends beyond the tread rubber industry. It can be suited to any
industry which uses black rubber as their input whether it be tyres, auto parts, conveyer belts,
extruded items etc. Master batches or final batches can be availed.
Products of the company
The main product of the Midas pvt ltd is the procured tread rubber
 It is available in various designs and sizes to suit individual needs. Width ranges from
84 mm to 320 mm for all types of vehicles.
 The tread is made from high mileage compounds. Custom Designed procured tread
rubber.
 Custom made tread design will manufacture exclusively for the customers molds made
to customers design and size specifications and kept only for the customer.

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REVIEW OF LITERATURE
Customer attitude
In a competitive market place where businesses compete for customers, customer satisfaction
is seen as a key differentiator and increasingly has become a key element of business strategy.
Organizations are increasingly interested in retaining existing customers while targeting non-
customers; measuring customer satisfaction provides an indication of how successful the
organization is at providing products and/or services to the marketplace.
Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of the
state of satisfaction will vary from person to person and product/service to product/service. The
state of satisfaction depends on a number of both psychological and physical variables which
correlate with satisfaction behaviors such as return and recommend rate. The level of
satisfaction can also vary depending on other options the customer may have and other products
against which the customer can compare the organization's products.
Because satisfaction is basically a psychological state, care should be taken in the effort of
quantitative measurement, although a large quantity of research in this area has recently been
developed. Work done by Berry (Bart Allen) and Brodeur between 1990 and 1998 defined ten
'Quality Values' which influence satisfaction behavior, further expanded by Berry in 2002 and
known as the ten domains of satisfaction. These ten domains of satisfaction include: Quality,
Value, Timeliness, Efficiency, Ease of Access, Environment, Inter-departmental Teamwork,
Front line Service Behaviors, Commitment to the Customer and Innovation. These factors are
emphasized for continuous improvement and organizational change measurement and are most
often utilized to develop the architecture for satisfaction measurement as an integrated model.
Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988 provides
the basis for the measurement of customer satisfaction with a service by using the gap between
the customer's expectation of performance and their perceived experience of performance. This
provides the measurer with a satisfaction "gap" which is objective and quantitative in nature.
Work done by Cronin and Taylor propose the "confirmation/disconfirmation" theory of
combining the "gap" described by Parasuraman, Zeithaml and Berry as two different measures
(perception and expectation of performance) into a single measurement of performance
according to expectation. According to Garbrand, customer satisfaction equals perception of
performance divided by expectation of performance. Babasaab patill(2011)According to the

32
study conclude that the MRF TYRES company satisfies the customer need and the purpose,
but only problem is with the service given to the customers by the showroom. So, as per study
in opinion based on project can say that MRF TYRES should think about the service provided
by showrooms in order to capture the maximum market segment. The market is vast almost
the whole district customers and other new people purchase the MRF Tyres because it is old
brand running tyres in market. Almost people demands the MRF Tyres comparing to other
company tyres.
Alicia barosso (2007) The study on increasing sales of new products is frequently credited to
buyer Becoming up to-date around the reality of the product. Publicity can hurry this buyer
buying choice is identified using a separate prime ideal through difference in the prime set.
According to the info dispersal of the fresh goods. The consequences propose that publicity
significantly improve the info of fresh goods and that firm revenue into account in their
publicity judgment this dynamic forces. The approximations display that publicity decreases
the three year it incomes for the info distribution of a fresh goods to half as long. The conclusion
of publicity on awareness is dynamic and that accounting for it is critical in explain the
progression of goods sales over its life rotation. Page 5 Gerard Llobet (2011), Building buyer
fulfilment is a self-justifying policy and the social objective for protection is buyer loyalty
(fornell, 1992). Fornel lconversed that buyerfulfillment will be in influenced if the demand and
supply are dissimilar. Fulfillment will be little when the buyer demand is heterogeneous and
the supply is similar. To recall buyer, interchanging barrier and buyer fulfillment are the two
basic methods which needed to be satisfied. Interchanging barriers make it costly for buyer to
change to participants and buyer fulfillment. Muhannad M.A Abdallat and Hesham EI-Sayed
EI-Emam The concept of buyerfulfillment as involved much care in recent years. Association
that right to examine this idea would begin with an minimizing of several buyer fulfillment
models. Such copies clarify several models about buyer fulfillment, making investigation and
study in this topic more focused and less waste full of research resources. Macromodels of
buyer satisfaction concepts the place of customer fulfilment amongst a set or related theory in
marketing research. Micro-models of buyer fulfillment ideas the elements of customer
satisfaction. (WILLARD HOM).
JOAN l. Giese and Joseph A. Cote, 2002  By a times particular topic of strength of character
and limited period The examiner must choice the idea of strength of character maximum related
for examiner inquiries and recognize the probable period of the summery answer.  Heading

33
for towards important aspects of a manufactured goods acquisition or consumption the
examiner must without doubt the focus of interest created on the managerial or examination
question there face. A survey was made on attributes of customer satisfaction and the results
of the examination presented that on average buyer attach high significance to all he facility
qualities recognized in several examination. However customers level of scarification is
reasonable for most of the qualities, excepting office environment,
Josses Mugabi and Samalie Mutuwa, 2009 Basic and operative base line customer satisfaction
examination package would motivation on calculating customer responses. Exactly how well
does your company transportation on the dangerous success issues and capacities of the
commercial as support by the buyer? For example, is yours examination swift and is your man
courteous? How receptive& accepting of the buyer’s problem are your representatives’? The
answers of company presentation must be examined both with all your buyers’ as well as key
sections.
Satisfaction has been broadly defined by Vavra, T.G. (1997) as a satisfactory post-purchase
experience with a product or service given an existing purchase expectation.4 Howard and
Sheth (1969)5 According to Westbrook and Reilly (1983) define satisfaction as, “The buyer’s
cognitive state of being adequately or inadequately rewarded for the sacrifices he has
undergone” (p.145). 6 , customer satisfaction is “an emotional response to the experiences
provided by, associated with particular products or services purchased, retail outlets, or even
molar patterns of behaviour such as shopping and buyer behaviour, as well as the overall market
place” (p.256). Oliver (1981)7 The definition offered by Hunt (1977) put forward a definition
as, “the summary psychological state resulting when the emotion surrounding disconfirmed
expectations is coupled with the consumers’ prior feelings about the consumption experience”
(p.27). 8 Customer/consumer satisfaction is “an evaluation that the chosen alternative is
consistent with prior beliefs with respect to that alternative” – Definition by Engel and
Blackwell (1982) is “an evaluation rendered that the (consumption) experience was at least as
good as it was supposed to be” (p.459). 9 Tse and Wilton (1988) (p.501). 10 Berry and
Parasuraman (1991) define as, “the consumer’s response to the evaluation of the perceived
discrepancy between prior expectations (or some other norm of performance) and the actual
performance of the product/service as perceived after its consumption” (p.204). 11 argue that
since customers’ satisfaction is influenced by the availability of customer services, the
provision of quality customer service has become a major concern of all businesses. Customer

34
satisfaction is typically defined as a post consumption evaluative judgement concerning a
specific product or service.12 It is the result of an evaluative process that contrasts prepurchase
expectations with perceptions of performance during and after the consumption experience.13
Oliver (1981)14 defines customer satisfaction as a customer’s emotional response to the use of
a product or service. Anton (1996)15 offers more elaboration: “customer satisfaction as a state
of mind in which the customer’s needs, wants and expectations throughout the product or
service life have been met or exceeded, resulting in subsequent repurchase and loyalty”.
Merchant Account Glossary points out that, “Customer satisfaction is an ambiguous and
abstract concept and the actual manifestation of the state of satisfaction will very from person
to person and produce/service to produce/service.....”16 Schiffman and Kanuk (2004)17
Woodruff and Gardian (1996) defines customer satisfaction as “The individual’s perception of
the performance of the product or service in relation to his or her expectations”. 18 According
to Hung (1977), “…. satisfaction is a kind of stepping away from an experience and evaluating
it … One could have a pleasurable experience that caused dissatisfaction because even though
it was pleasurable, it wasn’t as pleasurable as it was supposed to be. So satisfaction /
dissatisfaction isn’t an emotion, it’s the evaluation of the emotion”. define “Satisfaction, then,
is the evaluation or feeling that results from the disconfirmation process. It is not the
comparison itself (i.e., the disconfirmation process), but it is the customer’s response to the
comparison. Satisfaction has an emotional component.”
Oliver (1977) Some of the definitions available from web are compiled below: “Customer
satisfaction, a business term, is a measure of how products and services supplied by a company
meet or surpass customer expectation”. defines “Satisfaction is the consumer’s fulfilment
response. It is a judgment that a product or service feature, or the product of service itself,
provided (or is providing) a pleasurable level of consumption- related fulfilment, including
levels of under- or over-fulfilment” Some of the definitions available from web are compiled
below: “Customer satisfaction, a business term, is a measure of how products and services
supplied by a company meet or surpass customer expectation”. defines “Satisfaction is the
consumer’s fulfilment response. It is a judgment that a product or service feature, or the product
of service itself, provided (or is providing) a pleasurable level of consumption- related
fulfilment, including levels of under- or over-fulfilment”. 21 “Customer satisfaction is an
ambiguous and abstract concept and the actual manifestation of the state of satisfaction will
vary from person to person and product/service to product/service”.22 34 “Comparison of
expectations versus perception of experience”.23 “A customer’s perception of the degree to

35
which their requirements have been fulfilled.”24 According to Business Dictionary, customer
satisfaction is, “Degree of satisfaction provided by the goods or services of a firm as measured
by the number of repeat customers.”25 These definitions suggest that an evaluative process is
an important element underlying customer satisfaction.
It’s a universally accepted fact that customer satisfaction and loyalty is intrinsically coupled to
the well-being and long term growth of the any company. Providing benefits above and beyond
what the customer is even aware of through innovation and proper value addition can create a
loyal customer (See Saxena, 2014)4 . The literature pertaining to relationships among customer
satisfaction, customer loyalty, and profitability has two dimenstions: The first, service
management literature, proposes that customer satisfaction influences customer loyalty, which
in turn affects profitability. Supporter of this theory include researchers such as Gummesson
(1993)5 ; Heskett et al. (1990)6 ; Heskett et al. (1994)7 ; Reicheld and Sasser (1990)8 ; and
Zeithaml etal. (1990)9 . These researchers discuss the links between satisfaction, loyalty, and
profitability. Nelson et al. (1992), who demonstrated the relationship of customer satisfaction
to profitability among hospitals, and Rust and Zahorik (1991), who examine the relationship
of customer satisfaction to customer retention in retail banking also examined these
interlinkages. The Bank Administration Institute has also examined and evaluate these ideas,
in particular Roth and van der Velde (1990, 1991)10 . The service management literature
argues that customer satisfaction is the result of a customer’s perception of the value received
in a transaction or relationship – where value equals perceived service quality relative to price
and customer acquisition costs (see Blanchard and Galloway, 1994; Heskett et al., 1990) –
relative to the value expected from transactions or relationships with competing vendors
(Zeithaml et al., 1990). Loyalty behaviors, including relationship continuance, increased scale
or scope of relationship, and recommendation (word of mouth advertising) result from
customers’ beliefs that the quantity of value received from one supplier is greater than that
available from other suppliers. Loyalty, in one or more of the forms noted above, creates
increased profit through enhanced revenues, reduced costs to acquire customers, lower
customerprice sensitivity, and decreased costs to serve customers familiar with a firm’s service
delivery system (see Reicheld and Sasser, 1990). The second relevant literature is found in the
marketing domain. It discusses the impact of customer satisfaction on customer loyalty. Yi’s
concludes, “Many studies found that customer satisfaction influences purchase intentions as
well as post-purchase attitude” (p.105)11 . The marketing literature suggests that customer
loyalty can be defined in two distinct ways (Jacoby and Kyner, 1973)12. The first defines

36
loyalty as an attitude. Different feelings create an individual’s overall attachment to a product,
service, or organization13. These feelings define the individual’s (purely cognitive) degree of
loyalty.- S. Fornier (1994) The second definition of loyalty is behavioral. The behavioural view
of loyalty is similar to loyalty as defined in the service management literature. This study
examines behavioural, rather than attitudinal, loyalty (such as intent to repurchase). Examples
of loyalty behavior include continuing to purchase services from the same supplier, increasing
the scale and or scope of a relationship, or the act of recommendation (Yi, 1990)14 . This
approach is intended, first, to include behavioural loyalty in the conceptualization of customer
loyalty that has been linked to customer satisfaction and second, to make the demonstrated
satisfaction/loyalty relationship immediately accessible to managers interested in customer
behaviors linked to firm performance. Both the service management and the marketing
literatures suggest that there is a strong theoretical underpinning for an empirical exploration
of the linkages among customer satisfaction, customer loyalty.
In 2010, A survey of nearly 200 senior marketing managers also establishes the relationship
between customer satisfaction and loyalty, 71% responded that they found a customer
satisfaction metric very useful in managing and monitoring their businesses15. Unsatisfied
customers are not loyal customers, thus customer satisfaction is seen as a key performance
indicator within business. Author has observed that Customer satisfaction has a significantly
positive direct impact on customer loyalty. Thus, as the level of customer satisfaction increases,
the level of customer loyalty increases. Customer satisfaction inversely influences customer
complaints. Thus, as the level of customer satisfaction increases, the level of customer
complaints decreases. Customer complaints have significantly inverse impact on customer
loyalty. Thus, as the level of customer complaints increases, the level of customer loyalty
decreases. It has been recognised that eco-efficiency improvements at production and product
design level can be significantly reduced or totally negated by rebound effect from increased
consumption levels. In line with this problem factor 10 to 20 material and energy efficiency
improvements have been suggested (Factor 10 Club 1994; SchmidtBleek 1996; Bolund,
Johansson et al. 1998; Ryan 1998). The improvements, however, if not carefully done, may
still lead to rebound effects through changes in resource prices. As a potential solution to the
factor 10/20 vision system level improvements have to be made, contrary redesigning
individual products or processes (Weterings and Opschoor 1992; Vergragt and Jansen 1993;
von Weizsäcker, Lovins et al. 1997; Ryan 1998; Manzini 1999; Brezet, Bijma et al. 2001;
Ehrenfeld and Brezet 2001). The product service system (PSS) concept has been suggested as

37
a way to contribute to this system level improvement (Goedkoop, van Halen et al. 1999; Mont
2000). Here the environmental impacts of products and associated services should be addressed
already at the product and service design stage. Special focus should be given on the use phase
by providing alternative system solutions to owning products. A number of examples in B2B
area exist that confirm the potential of PSS for reducing life cycle environmental impact. It is,
however, increasingly evident that business examples are difficult to directly apply to the
private consumer market. Private consumers, contrary to businesses, prefer product ownership
to service substitutes (Schrader 1996; Littig 1998). Even if accepted, the environmental impacts
of “servicised products” offers depend to a large extent on consumer behaviour. To address
this problem, either behavioural or service system design changes are needed. Changing human
behaviour and existing lifestyles contributes to the vision of sustainable development, but at
the same it is extremely difficult and time-consuming process. A potentially easier way is
changing the design of product-service system to reduce behavioural pitfalls. In order to change
system design, it is necessary to understand how consumer acceptance of more sustainable
solutions is formed, influenced or changed, what are the influencing factors and what are the
leverage points for best results with lowest costs. Understanding consumer perceptions and
behaviour in this context is crucial.

38
Demand pattern
Demand response can be fixed (obtained through contracts) or flexible (market based). Su and
Kirchen [5] quantify the effect of demand response on electricity markets and propose a day-
ahead market-clearing tool. As more demand shifts, market-clearing prices lower. They find
that the system is more efficient, and social welfare is maximized, as more loads participate in
demand response (i.e. as the load participation factor is increased). However, the law of
diminishing returns applies because as more loads participate, system operating cost savings
will saturate due to the “non-decreasing nature of the marginal production cost of the
generators.” Sezgen, Goldman and Krishnarao [1] treated demand response as options, which
ISOs have the ability to exercise in the future if they need it. Option-pricing methodologies
were used to valuate investments for load curtailment, load shifting/displacement, and fuel
substitution from the consumers’ perspectives. These help both predict and guide consumer
behaviour. Demand response has been shown to improve the efficiency of the electricity
market. Kirschen [6] finds that “increasing the short-run price elasticity of the demand for
electrical energy would improve the operation of these markets.” However, Kirschen also
acknowledges the costs and complexities associated with greater demand participation in
markets. Oh and Thomas [4] modelled the two types of demand: price-based and must-serve
demand. The latter highly values reliability, while the former is more flexible depending on
price. This method was tested on an IEEE 30 bus system to show enhanced efficiency. Khodaei
et al [38] used several case studies to demonstrate demand response’s benefits. They found that
demand response could “shave the peak load, reduce the system operating cost, reduce fuel
consumption and carbon footprints, and reduce the transmission load congestion by reshaping
the hourly load profile.” Price-sensitive demand response introduces an added element of
volatility into electricity markets and could impact the ability of the power market to converge.
Zhao et al [14] explored this using two methods: a closed-loop iterative simulation method and
a non-iterative method based on the contraction mapping theorem. Convergence was affected
by the non-linear price elasticity of demand response performance curves, the demand response
penetration levels, and the capacity limits of generating units. Models that proposed to allow
consumers to participate in the electricity spot market have not been proven to be robust enough
to withstand the uncertainty of consumer behavior in response to real time price changes. A
large number of consumers adjusting their demand (either load shifting or curtailment) based
on the same data would smooth out the variations in prices, thereby reducing the accuracy of
the forecasted demand and generation. A framework for modeling and analyzing the dynamics

39
of supply, demand and clearing prices when real-time electricity price information is passed on
to consumers was proposed by Roozbehani[15]. The authors’ theoretical analysis suggests that
under current market and system operation practices, new demand response technologies and
storage may lead to increased price volatility. The authors concluded that to implement an
efficient and reliable real-time pricing models in a large-scale setting, more sophisticated
models of demand, deeper understanding of consumer behavior in response to realtime prices
and a thorough understanding of the implications of different market mechanisms and system
architectures are needed.
(Montgomery and Wernerfelt [1992]), and indirect signals from firms’ price, quantity, or
advertising decisions (Nelson [1974], Caves and Greene [1996]). In this paper, we contribute
to the empirical literature by studying an additional source of product information: expert
reviews. It is common to see books, concerts, movies, plays, restaurants, television shows, and
other products of the entertainment industry reviewed by professional critics. Many other
experience goods are also critically reviewed, whether in publications devoted to the whole
range of consumer products (such as Consumer Reports) or to more narrow product classes
(such as PC Magazine). We have several motives for studying the influence of expert reviews
on consumer demand. First, even if one considers expert reviews a close substitute for the other
sources of information mentioned above, it is useful to study them to get a comprehensive
picture of the aggregate flow of information that might influence consumers’ demand for
experience goods. Second, these other sources of information are not likely to be perfect
substitutes for expert reviews in any event, making expert reviews worthy of independent
study. The distinctive feature of expert reviews is that they are issued by a private party rather
than the firm itself. On the one hand, the independence of the expert may reduce the bias in the
information provided, increasing the influence on consumer demand. On the other hand, the
expert may not have the same incentive to circulate the information to consumers, reducing the
influence on demand. Of course, if the expert turns out to have a substantial influence on
demand, the firm will have an incentive to ‘capture’ the expert through bribes or other means.1
Third, new econometric problems are raised in measuring the influence of expert reviews as
opposed to other sources of consumer information. As discussed in the following paragraphs,
we address the econometric problems by exploiting a quasinatural experiment in the particular
industry we study, movies. The inherent problem in measuring the influence of expert reviews
on demand is that products receiving positive reviews of course tend to be of high quality, and
it is difficult to determine whether the review or the quality is responsible for high demand. In

40
formal econometric terms, the coefficient from the regression of demand on reviews will be
biased upward due to the omission of quality variables. In principle the bias could be removed
by accounting for quality; but quality is hard to measure for any product, especially for products
whose quality is uncertain enough to merit critical appraisals. In Eliashberg and Shugan’s
[1997] terms, the causal effect of reviews on demand holding quality constant is the influence
effect; the spurious correlation between reviews and demand induced by their mutual
correlation with quality is the prediction effect. We propose a novel approach for distinguishing
the influence and prediction effects of reviews on demand. The particular case we study is
movies, an industry in which demand is readily measured by box office revenue. We consider
the reviews of Siskel and Ebert, two movie critics who arguably had the greatest potential for
influence through their nationallysyndicated television show. Our approach hinges on the
timing of their reviews relative to a movie’s release. Reviews that come during a movie’s
opening weekend can influence box office revenue for the remainder of the opening weekend;
such reviews have both an influence and a prediction effect. Reviews that come after a movie’s
opening weekend cannot influence opening weekend revenue; such reviews have only a
prediction effect. By taking a difference in differencesFthe difference between a positive and
negative review for movies reviewed during their opening weekends and movies reviewed
afterFthe prediction effect can be purged and the influence effect isolated. Our approach
requires that the process by which the critics select movies to review during opening weekend
and those to review after is independent of quality signals including the positiveness of their
reviews.We provide tests suggesting that such selection effects are not substantial. We find that
a positive review has an influence on opening weekend box office revenue even after purging
the prediction effect. The results for the combined sample of movies are only marginally
statistically significant. The results are much stronger when broken down by subsample. We
find an economically and statistically significant influence effect on opening weekend box
office revenue for narrowly-released movies and for dramas. We find no influence effect for
widely-released movies, or for genres such as action movies or comedies. Intuitively, critics’
reviews are more important for ‘art’ movies than for ‘event’ movies, perhaps because, for this
latter type of movie, consumers already have sufficient quality signals from press reports and
advertising or consumers have a different view of quality than critics. Results from additional
regressions flesh out the model of consumer demand for movies. We find that a positive review
during a movie’s opening weekend does not merely steal business from later in the movie’s
run but in fact increases its total box office revenue. This increased revenue appears to come
at the expense of competing movies showing during that weekend, although this effect is

41
imprecisely estimated. Taken together, these results are consistent with a model in which
quality-sensitive consumers have infrequent opportunities to see movies; they see high-quality
movies when they have the opportunity, but do not have the opportunity to see all highquality
movies. In this model, consumers use quality information to make the secondary decision of
which movie to see rather than the primary decision of whether to go out to the movies. Our
finding of a significant influence effect, at least for some types of movies, is in contrast with
Eliashberg and Shugan [1997], the one previous study of box office revenue that attempts to
separate influence from prediction effects. Using a sample of 56 long-running movies released
in the early 1990s, the authors regress weekly box office revenue on the movie’s percentage of
positive reviews for each of the first eight weeks of a movie’s run. They find that the percentage
of positive reviews is only marginally significant during the first four weeks of the movie’s
run; the effect becomes larger and more significant during the next four weeks. Based on their
maintained assumption that the influence effect declines during a movie’s run, the authors
conclude that the influence effect cannot be important and must be dominated by the prediction
effect. In fact, we also find a similar pattern of increasing correlation between reviews and box
office revenue over the course of a movie’s run in our data, so cannot dispute their conclusion
about the relative importance of the prediction and influence effects. That we still find a
positive influence effect on opening weekend revenue may be due to our use of more powerful
statistical testsFincluding over ten times the number of observations and a different measure of
reviews (reviews of two influential critics rather than an average of hundreds of critics’
reviews)Fthan Eliashberg and Shugan [1997].2 Besides our paper and Eliashberg and Shugan
[1997], the rest of the literature on the relationship between movie reviews and box office
revenue does not attempt to purge the prediction effect.3 The studies tend to find a positive
effect (Litman [1983]; Litman and Kohl [1989]; Wallace, Seigerman, and Holbrook [1993];
Sochay [1994]).4,5 Relating our paper to the broader literature on the influence of reviews on
consumer demand for a variety of products in addition to movies, much of the literature does
not attempt to purge the spurious prediction effect. The papers that do so tend to focus on expert
reviews which contain objective information, ranging from summaries of user reliability
surveys as published by Consumer Reports for used cars (Hollenbacher and Yerger [2001]) to
summaries of health plan performance indicators by various agencies (Spranca et al. [2000]
and Jin [2002]). In a sense, these papers bear closer resemblance to the literature on product
labeling cited above. Our paper differs from these in that the expert reviews we consider are
more subjective, being the personal opinion of the expert.

42
CHAPTER4
RESEARCH METHODOLOGY

43
4.1 INTRODUCTION
ResearchMethodology is the systematic, theoretical analysis of the methods applied to a field
of study. It comprises the theoretical analysis of the body of methods and principles associated
with a branch of knowledge. Typically, it encompasses concepts such as Para diagram,
theoretical model, phases and quantitative or qualitative techniques.[1]
A methodology does not set out to provide solutions - it is, therefore, not the same as a method.
Instead, a methodology offers the theoretical underpinning for understanding which method,
set of methods, or best practice can be applied to specific case, for example, to calculate a
specific result.
It has been defined also as follows:
1. "the analysis of the principles of methods, rules, and postulates employed by a
discipline";[2]
2. "the systematic study of methods that are, can be, or have been applied within a
discipline";[2]
3. "the study or description of methods".
To achieve the stated objective a survey was conducted at Kottayam regarding customer
“attitude and demand pattern towards Midas Precured Treads” provided by retailers in Kottayam

44
4.2 RESEARCH DESIGN
A research design is the set of methods and procedures used in collecting and
analyzing measures of the variables specified in the research problem research. The design of
a study defines the study type (descriptive, correlational, semi-experimental, experimental,
review, meta-analytic) and sub-type (e.g., descriptive-longitudinal case study), research
problem, hypotheses, independent and dependent variables, experimental design, and, if
applicable, data collection big black c methods and a statistical analysis plan. Research design
is the framework that has been created to find answers to research question
Primary Data:
An advantage of using primary data is that researchers are collecting information for the
specific purposes of their study. In essence, the questions the researchers ask are tailored to
elicit the data that will help them with their study. Researchers collect the data themselves,
using surveys, interviews and direct observations.
In the field of workplace health research, for example, direct observations may involve a
researcher watching people at work. The researcher could count and code the number of times
she sees practices or behaviours relevant to her interest–e.g. instances of improper lifting
posture or the number of hostile or disrespectful interactions workers engage in with clients
and customers over a period of time. Primary data is collected by the random sampling method.
Here we have randomly interviewed 50 customers through Questionnaire and personal
interview and collected the primary data.
Secondary Data:
Secondary data analysis can save time that would otherwise be spent collecting data and,
particularly in the case of quantitative data, can provide larger and higher-
quality databases that would be unfeasible for any individual researcher to collect on their own.
In addition, analysts of social and economic change consider secondary data essential, since it
is impossible to conduct a new survey that can adequately capture past change and/or
developments. However, secondary data analysis can be less useful in marketing research, as
data may be outdated or inaccurate These are generally published sources which have been

45
collected originally for some other purpose, they are not gathered specially to achieve the
objectives of the particular research project hands but already assembled.

46
4.3 DATA COLLECTION
Data collection is the process of gathering and measuring information on targeted
variables in an established systematic fashion, which then enables one to answer relevant
questions and evaluate outcomes. Data collection is a component of research in all fields of
study including physical and social sciences, humanities, and business. While methods vary by
discipline, the emphasis on ensuring accurate and honest collection remains the same. The goal
for all data collection is to capture quality evidence that allows analysis to lead to the
formulation of convincing and credible answers to the questions that have been posed. Method
used to collect data for the study was through survey. Survey is a systematic collection of
information directly from the respondents; survey was through personal interview which
involves collection of data through face to face communication with the help of questionnaire.
Data are usually collected through qualitative and quantitative methods. Qualitative
approaches aim to address the ‘how’ and ‘why’ of a program and tend to use unstructured
methods of data collection to fully explore the topic. Qualitative questions are open-ended such
as ‘why do participants enjoy the program?’ and ‘How does the program help increase self-
esteem for participants?’. Qualitative methods include focus groups, group discussions and
interviews. Quantitative approaches on the other hand address the ‘what’ of the program. They
use a systematic standardised approach and employ methods such as surveys1 and ask questions
such as ‘what activities did the program run?’ and ‘what skills do staff need to implement the
program effectively?’
Both methods have their strengths and weaknesses. Qualitative approaches are good for further
exploring the effects and unintended consequences of a program. They are, however, expensive
and time consuming to implement. Additionally, the findings cannot be generalised to
participants outside of the program and are only indicative of the group involved.1
Quantitative approaches have the advantage that they are cheaper to implement, are
standardised so comparisons can be easily made and the size of the effect can usually be
measured. Quantitative approaches however are limited in their capacity for the investigation
and explanation of similarities and unexpected differences.1 It is important to note that for peer-
based programs quantitative data collection approaches often prove to be difficult to implement
for agencies as lack of necessary resources to ensure rigorous implementation of surveys and
experienced factors.

47
4.4 TOOLS AND TECHNIQUES OF ANALYSIS
Once the researcher has decided to use survey method for collecting data he has to make a decision to
adopt any one of the following survey techniques.
1. personal interview
2. telephone survey
3. questionnaire
Questionnaire
It is the most commonly used instrument in collecting primary data. A questionnaire consisting of set
of questions presentedto a respondent for his/her answer.The questionnaire is very flexible in the sense
that there are many ways to ask questions.
Method of Sampling:
Kottayam city has a huge population and each person’s opinion cannot be collected. So the
respondents were chosen randomly in Kottayam .
Sample Size:
Sample size for the study consisted of 50 retailers residing in Kottayam city. Among them only some
of them responded and others rejected to respond as they were not interested.
Sample Unit:
Customer of Midas Treads and owners of vehicles in Kottayam .
4.5 DURATION OF THE STUDY
The period of the study at Midas Treads (P) Limited was from 1 ST APRIL 2017 to 31 ST
MAY 2017.

48
4.6 SCOPE & LIMITATIONS
SCOPE
The study is purely based on the survey conducted in Kottayam and has focused on customers.
The study covers the information about the mind set which may varies from situation & where the
respondents may not be able to give required and accurate information.
LIMITATIONS
1. Due to respondents busy schedules, the interests shown by respondents to answer the
questionnaire may be less. This may have resulted in collecting inaccurate information.
2. Due to time and cost constraint the sample size selected is 50.
3. The selected sample size is small as compared to the total number of customers. Hence
the obtained result may not be accurate as it may not represent the whole population.
4. The project is open for further improvement of the work.

49
CHAPTER 5
DATA ANALYSIS AND INTERPRETATION

50
5.1.1 AVALYSIS AND INTERPRETATION
Table no:5.1.2Experience in this line
experiences
Frequency Percent Valid Percent Cumulative Percent
Valid
Less than one year 1 2.0 2.0 2.0
5-10 year 8 16.0 16.0 18.0
above 10 year 41 82.0 82.0 100.0
Total 50 100.0 100.0
5.1.3 Interpretation
This table reveals that 82% of the respondents have above 10-year experience with the
company. The 16% of the retreders belongs to 5-10 years and 2% of the respondent belongs
to less than 1 year. the below graph shows detailed indication.

51
Table no:2 Opinion about Product
Valid
fully satisfied 20 40.0 40.0 40.0
satisfied 29 58.0 58.0 98.0
not satisfied 1 2.0 2.0 100.0
Total 50 100.0 100.0
5.1.3 Interpretation
This table reveals that 2% of the respondents are not satisfied with product. The 58% of the
respondents are satisfied with product and 40% of the respondent are fully satisfied with
product .The below graph shows detailed indication.

52
Table no:3 Price
Valid
neutral 12 24.0 24.0 24.0
agree 29 58.0 58.0 82.0
Strongly agree 9 18.0 18.0 100.0
Total 50 100.0 100.0
Interpretation
This table reveals that 58% of the respondents are agree with price of the product. The 18%
of the respondents are strongly agree with price and 24% of the respondent are neutral with
price .The below graph shows detailed indication.
Strongly agreeagree

53
Table no:4 Company image
Valid
neutral 28 56.0 56.0 56.0
agree 20 40.0 40.0 96.0
Strongly agree 2 4.0 4.0 100.0
Total 50 100.0 100.0
Interpretation
This table reveals that 40% of the respondents are agree with company image. The 2% of the
respondents are strongly agree with company image and 28% of the respondent are neutral
with company image .The below graph shows detailed indication.

54
Table no:5 Brand name
Valid
neutral 28 56.0 56.0 56.0
agree 20 40.0 40.0 96.0
stronglyagree 2 4.0 4.0 100.0
Total 50 100.0 100.0
Interpretation
This table reveals that 40% of the respondents are agree with brand name. The 4% of the
respondents are strongly agree with brand name and 56% of the respondent are neutral with
brand name .The below graph shows detailed indication.

55
Table no:6 Quality
Valid
agree 9 18.0 18.0 18.0
Total 50 100.0 100.0
Interpretation
This table reveals that 18% of the respondents are agree with quality. The 82% of the
respondents are strongly agree with quality and 56%. The below graph shows detailed
indication.

56
Table no:7 After Sale Service
Valid
neutral 22 44.0 44.0 44.0
agree 23 46.0 46.0 90.0
Total 50 100.0 100.0
Interpretation
This table reveals that 46% of the respondents are agree with after sale service. The 10% of
the respondents are strongly agree with after sale service and 44% of the respondent are
neutral with after sale service. The below graph shows detailed indication.

57
Table no :8 Advertisement
Valid
disagree 2 4.0 4.0 4.0
neutral 38 76.0 76.0 80.0
agree 10 20.0 20.0 100.0
Total 50 100.0 100.0
Interpretation
This table reveals that 20% of the respondents are agree with advertisement. The 4% of the
respondents are disagree with advertisement and 76% of the respondent are neutral with
advertisement. The below graph shows detailed indication.

58
Table no:9 Knowledge about Midas precured treads
Valid
friends 5 10.0 10.0 10.0
brand image 37 74.0 74.0 84.0
advertisment 1 2.0 2.0 86.0
selfdecision 7 14.0 14.0 100.0
Total 50 100.0 100.0
Interpretation
This table reveals that 10% of the respondents purchased by their friends recommendation
.The 74% of the retreads purchased by brand name , 2% of the respondent buys by the
influence of advertisement and , 14% of the respondent buys by self-decision .the below
graph shows detailed indication.

59
Table no:10 Quality
Valid
excellent 29 58.0 58.0 58.0
good 21 42.0 42.0 100.0
Total 50 100.0 100.0
.
Interpretation
This table reveals that 58% of the respondents are excellent with quality. The 42% of the
respondents are good with quality. The below graph shows detailed indication

60
Table no:11Opinion about price
Valid
very high 20 40.0 40.0 40.0
high 29 58.0 58.0 98.0
low 1 2.0 2.0 100.0
Total 50 100.0 100.0
Interpretation
This table reveals that 40% of the respondents said price is very high. The 58% of the
respondents says price is high and 2% of the respondent tells low price. The below graph
shows detailed indication.

61
Table no:12 Opinion regarding the price of various company’s products
Midas
Valid
very high price 27 54.0 54.0 54.0
high price 23 46.0 46.0 100.0
Total 50 100.0 100.0
Interpretation
respondents says price is high. The below graph shows detailed indication.

62
Jay Jay
Valid
very high price 2 4.0 4.0 4.0
high price 37 74.0 74.0 78.0
medium price 11 22.0 22.0 100.0
Total 50 100.0 100.0
Interpretation
respondents says price is high and 22% responds give medium price. The below graph shows
detailed indication.

63
Polyteck
Valid
high price 28 56.0 56.0 56.0
medium price 22 44.0 44.0 100.0
Total 50 100.0 100.0
Interpretation
This table reveals that 56% of the respondents said price is high. The 44% of the respondents
says medium price. The below graph shows detailed indication

64
Janatha
Valid
high price 12 24.0 24.0 24.0
medium price 35 70.0 70.0 94.0
low price 3 6.0 6.0 100.0
Total 50 100.0 100.0
Interpretation
This table reveals that 24% of the respondents said price is high. The 70% of the respondents
says price is medium and 6% responds give low price. The below graph shows detailed
indication.

65
Table no:13 Problem in Purchasing
Valid no 50 100.0 100.0 100.0
Interpretation
This table reveals that all the respondents said do not face any problem while purchasing The
below graph shows detailed indication

customer attitude and demand pattern of midas treads

customer attitude and demand pattern of midas treads

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