Marketing research project on tata nano

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Marketing research project on tata nano

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  • sir plz send me this presentation it will very help full in project i'll be thankful to you sir prajapatin91@gmail.com
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  • Hey Please send me this presentation it will be very helpful to me and
    I'll be thankful to you anurag.r.verma@gmail.com
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  • Hi Hemanth, your group has done a wonderful job covering many attributes in your project. After all the excitement world-over, is Nano loosing its sheen? As an admirer of NANO and efforts of TATA motors, i feel it would ber very unfortunate, if the efforts fail. Can i quote your project reference in any of my discussions? Regards/ Guru
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  • hey can u plzzz send me this presentation..i'll be very thankful to u...
    my email id is prashantrana69@gmail.com
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Marketing research project on tata nano

  1. 1. Projectsformba.blogspot.com Marketing reSearCH PrOJeCt Tata NANO’s Perception Group Name- “Nano- But NOT” Group Members- Projectsformba.blogspot.com
  2. 2. Projectsformba.blogspot.com 1. reSearCH ObJeCtive To find out the perception of Tata’s NANO among the Young Generation Executives studying at IILM. 2. reSearCH DeSign Information Available About Tata Tata Motors Limited is Indias largest automobile company. It is the leader by far in commercial vehicles in each segment, and the second largest in the passenger vehicles market. The company is the worlds fifth largest medium and heavy commercial vehicle manufacturer, and the worlds second largest medium and heavy bus manufacturer. Established in 1945, Tata Motors presence indeed cuts across the length and breadth of India with over 4 million vehicles, since the first rolled out in 1954. The foundation of the company’s growth is a deep understanding of customer needs, and the ability to translate them into customer-desired offerings through leading edge R&D. About Tata NANO Tata Motors has recently launched the Tata Nano – World’s Cheapest Car, priced at Rs. 1,00,000. Ratan Tata, the chairman of Tata Group and Tata Motors, promised India to build the Worlds cheapest car and now it done. It was define by the corporation as a comfortable, safe, all-weather car, high on fuel efficiency & low on emissions. Characteristics of NANO Cheap: It is the world cheapest car: 1 lakh for the standard model. Due to this, it is considered as the “People’s car”. Fuel-efficient engine: Its mileage is 20km/litre. The luxury model has a diesel engine. Projectsformba.blogspot.com
  3. 3. Projectsformba.blogspot.com Safe: Nano features feat with all safety requirements. The car contains a strong passenger compartment with crumple zones, intrusion-resistant doors, seat belts, strong seats, anchorages… It had passed a full frontal crash tests. Moreover, it’s a safer way of transport than motorcycles and rickshaws. Comfortable: Nano has been conceived for four persons. Its space is adapted according to this. Four doors enable the entrance in the car. Seating space is generous and quite comfortable. It permits the driver to manoeuvre easily.Besides, the car will be available in two models: standard and deluxe. Ecological: According to Ratan Tata (chairman of Tata motor), Nano meet all current legislative emission norms and could be upgraded to meet euro IV norms. It is less pollutant than two-wheelers being manufactured in India. Trendy: Both versions of Nano (standard and deluxe) will be available in several colours. The customer will also have the possibility to choose additional accessories to adapt the car to its needs to make it look trendy and stylish. Information Needs Our marketing research problem is to find out how Tata Nano is perceived by potentials consumers. To discover Tata NANO’s perception we needed to know what respondents think about Tata Nano. We identified some characteristics as rural, trendy, safety, ecological and trendy which can define Tata Nano and respondents need to be asked if they agreed. We need to also know some information about whether the respondents perceive NANO as the car for young generation or people’s car or both. Besides, they need to be questioned about social class target for Nano. They have to choose between upper class, upper middle class, middle class, lower middle class and lower class. Projectsformba.blogspot.com
  4. 4. Projectsformba.blogspot.com Moreover, we identified the following criteria: price and affordability, fuel efficiency, good design, quality, comfort, after safe services, Tata’s brand name, as part of the reasons why people will buy Nano. Respondents need to choose the reasons according to their preference ranging from most likely to least likely Then we need to know the purchase intention of the respondents and whether they think Tata NANO will be successful or not. For this we asked some of the respondents what they understand by a successful brand. According to them, a successful brand is one which fulfills the promise of quality, which can be easily recalled by people, which has a name and reputation in the market and focuses on customer satisfaction. If we get all this information, we will be able to analyse Tata NANO’s perception. 3. SaMPling We choose the sample on the basis of Non-Probability Sampling. We decided to use Convenience Sampling technique by taking the students of IILM Institute as a sample, which represented the whole population of young executives, to conduct our marketing research. Although there are many potential buyers of Tata NANO, but for this particular research we decided to focus only on the young executives. 4. Data COlleCtiOn Exploratory Research We opted for the exploratory research to explore the first hand information about the people’s perceptions for Tata’s Nano. It was necessary to know the key elements which could be handy in judging the perception for Nano. To get the insights and understanding, we showed the picture of Nano to the respondents and asked them what they think about Nano. We also asked them to define Nano in one word. The responses varied from being trendy to rural, from safe to ecological, cheap to people’s car. Secondary Data Analysis Projectsformba.blogspot.com
  5. 5. Projectsformba.blogspot.com We also did secondary data analysis by getting information from the websites of Tata’s Nano. We also searched throuth some blogs and interviews on the websites to find out people’s perception about Tata’s Nanos. Survey We selected the questionnaire survey for the course of action, to get the new ideas and insights about the perception of the people. We targeted the young executive as they are the key potential buyers of Nano. We decided to go for a closed ended questionnaire with a rating scale (in most questions) so that it become easy for both the respondents and us to administer it and easily tabulate and analyse it. We also pre-tested it two times within the group so, as to make the questions error-free and accurate so that it can reveal relevant and accurate information that we require to analyses the problem. We surveyed in cafeteria, classes and in the college premises with the young excutives. 5. Data analySiS Results We interviewed 50 students of the school in order to complete the survey. As we can observe in the chart below, 44% of them were female and 56% male. We have a balanced proportion between both genders in our sample. That enable this survey to be more representative of the target market we choose to analyse. Gender 44% 56% male female Projectsformba.blogspot.com
  6. 6. Projectsformba.blogspot.com General perception of Nano Thanks to this survey, we tried to get people’s perception about Nano on several parameters. These are given as under-  Nano as a rural car: Nano: a rural car? 60% 54% 50% 40% 30% 24% 20% 10% 8% 10% 4% 0% strongly agree dont know disagree strongly agree disagree It clearly appears that the majority of the respondents disagree with the affirmation that Nano is a rural car. Only 28% of them agreed with that fact. Nano is most perceived as a “city” car.  Nano as a trendy car. Nano: trendy? 60% 54% 50% 40% 30% 14% 20% 6% 24% 10% 2% 0% strongly agree dont know disagree strongly agree disagree Projectsformba.blogspot.com
  7. 7. Projectsformba.blogspot.comThese results illustrate that most of the respondents we surveyed agreed that Nano is trendy(60%). People who want to be fashionable will be tempted to buy this car.  Nano as “People’s car”. Nano: Peoples car? 80% 70% 70% 60% 50% 40% 30% 22% 20% 0% 6% 2% 10% 0% strongly agree dont know disagree strongly agree disagree According the chart, we can say that Nano is “People’s car”. More than 90% of the respondents agreed with that affirmation. Nano is considered as a car that suits with “everybody’s” needs. It is a product of mass consumption.  Nano as a safe and ecological car. Nano: a safe car? 50% 44% 40% 34% 30% 20% 12% 10% 10% 0% 0% strongly agree dont know disagree strongly agree disagree Nano: an ecological car? 50% 42% 40% 32% 30% 16% 20% 10% 10% 0% Projectsformba.blogspot.com 0% strongly agree dont know disagree strongly agree disagree
  8. 8. Projectsformba.blogspot.comWe can observe that an important percentage of persons (more than 40%) choose not to answerto that questions telling they didn’t know. It illustrates people have some doubts about these twocharacteristics of Nano. This is probably due to the fact the car has not been launch to the market yet.However, the respondents seem to feel more comfortable with the affirmation that Nano is anecological car (42% agreed with that statement) than with the one that Nano is a safe car (just 12%agreed with this).  Nano as a car for young generation. Nano: made for young generation? 45% 40% 40% 32% 35% 30% 25% 20% 12% 15% 10% 10% 6% 5% 0% strongly agree dont know disagree strongly agree disagreeMost of the respondents disagreed with that affirmation even we can not clearly discern ageneral tendency for that question. Respondents have mixed responses about Nano only as acar for young generation.  Target market Projectsformba.blogspot.com
  9. 9. Projectsformba.blogspot.com Tata Nano is for... 60% 54% 50% 42% 40% 30% 20% 4% 10% 0% upper upper middle lower lower class middle class middle class class classThe respondents of our sample consider Nano as a car for middle or lower middle class. Itsprice, its size and its features are probably the reasons of such an affirmation.Buying a NanoFirst, we tried to see in which measure students of the school would be interested inbuying a Nano. The results of the survey didn’t prove a great enthusiasm of the respondents tothat idea; perhaps because they didn’t consider belonging to middle or lower class. Most ofthem (52%) answered they will maybe be interested by such a car. Interest in buying a Nano 26% 22% 52% yes maybe noReasons to buy NANO Projectsformba.blogspot.com
  10. 10. Projectsformba.blogspot.com Reasons for buying a Nano: 120% 100% Rank 7 Rank 6 80% Rank 5 60% Rank 4 40% Rank 3 Rank 2 20% Rank 1 0% Price Tatas brand Fuel Good design Quality Comfort name efficiencyThis chart shows that price is the principal motivation of purchase. Tata’s brand name iscoming just after. This is given in detail as under Im pact of price and affordability on purchase 120% 96% 100% 80% 60% 40% 20% 0% 2% 0% 0% 0% 2% 0% rank 1 rank 2 rank 3 rank 4 rank 5 rank 6 rank 7Most respondents think that price is the most important factor which people will considerwhile making a purchase decision about Nano. Projectsformba.blogspot.com
  11. 11. Projectsformba.blogspot.com Im pact of fue l e fficie ncy on purchas e 30% 27% 25% 20% 20% 16% 13% 13% 15% 9% 10% 5% 2% 0% rank 1 rank 2 rank 3 rank 4 rank 5 rank 6 rank 7 Im pact of Tatas brand nam e on purchase 60% 50% 50% 40% 30% 17% 20% 9% 7% 9% 10% 4% 4% 0% rank 1 rank 2 rank 3 rank 4 rank 5 rank 6 rank 7 Impact of good design on purchase 35% 29% 30% 25% 22% 20% 16% 15% 11% 11% 10% 7% 4% 5% 0% rank 1 rank 2 rank 3 rank 4 rank 5 rank 6 rank 7 Projectsformba.blogspot.com
  12. 12. Projectsformba.blogspot.com Im pact of quality on purchase 30% 27% 25% 22% 20% 20% 13% 15% 9% 10% 7% 5% 2% 0% rank 1 rank 2 rank 3 rank 4 rank 5 rank 6 rank 7 Im pact of com fort on purchase 38% 40% 35% 30% 25% 20% 18% 20% 13% 15% 10% 7% 5% 2% 2% 0% rank 1 rank 2 rank 3 rank 4 rank 5 rank 6 rank 7NANO- A Sucessful car ? Nano: a successful car? 60% 52% 50% 40% 29% 30% 20% 15% 10% 4% 0% 0% strongly agree dont know disagree strongly agree disagree Projectsformba.blogspot.com
  13. 13. Projectsformba.blogspot.comFrom the above chart, 67% of the respondents think that Nano will be a successful car andjust 4% of them consider it will not be a successful brand. That is quite encouraging for Tata’sbrand!CorrelationWe also found out the coefficient of correlation between elements to understand whether therelationship between them is positive or negative. It is explained as under. Rural and Trendy -0.209 Trendy and Young Generation 0.248 Peoples car and Safety 0.086 Young Generation and peoples car -0.037 Rural and young generation -0.087 Rural and peoples car -0.213 1. The coefficient of correlation between rural and trendy is negative, shows that people who say Nano is a rural car disagrees that it is trendy and fashionable and vice-versa. 2. The coefficient of correlation between trendy and young generation is positive, shows that the respondents who believe Nano is trendy also believe that is it made for young generation. 3. The coefficient of correlation between “people’s car” and safety is positive, shows that people think it is safe that is why it is people’s car. 4. The coefficient of correlation between the young generation and people’s car is negative, shows that the respondents who think Nano is for young generation dont agree that it is people’s car. 5. The correlation between the rural car and the young generation car is negative, shows that respondents who think Nano is a rural car don’t think it is for young generation and those who think Nano is for young generation do not agree that it is a rural car. Projectsformba.blogspot.com
  14. 14. Projectsformba.blogspot.com The degree of correlation is not very high. It shows that respondents are not really sure of the conclusion given above. 6. The correlation between the rural car and the people’s car is negative, shows that respondents who believe Nano is a rural car do not seem to accept it as People’s car, and vice-versa. 7. The correlation between the trendy and people’s car is negative, shows that it is either trendy or a people’s car. But the low degree of correlation suggests that respondents are not really sure of this thing. 6. COnCluSiOn anD rePOrt Key Findings i. Nano is not really perceived as a rural car. 64% of the respondents disagree with the fact that it is a rural car. Despite being the cheapest car in the world people accept and see it as a city car. From secondary data analysis, we found that Nano’s main target segment is rural India. But our findings tell us that apart from rural India, it has a huge market in Tier1, Tier2 and Tier3 cities in India. So Tata’s strategy should be to do good branding in order to attract large customer segments, especially youth of India. Projectsformba.blogspot.com
  15. 15. Projectsformba.blogspot.com ii. 60% of the respondents agree that Nano is trendy. People perceive it as a fashionable car. So, as Nano is perceived as trendy, it has potential to make huge business apart from rural part. It should tap the untouched cheap A-category car market in urban, semi-urban and towns of India. It must also attract people who buy motor bikes. Negative correlation between rural and trendy clearly suggest that most of the respondents are bifurcated between those who think Nano is a rural car and those who think it is trendy. So this thing itself seems to increase the customer base for Nano. iii. More then 90% of the respondents agree that Nano is People’s Car. We got mixed responses about Nano as a car for young generation. It is a car which fits to the needs of all types of customers. It is a product of mass consumption. iv. In terms of safety and ecology, we have got fairly mixed responses. Most respondents said they don’t know whether Nano is safe and ecological or not. More than 40% respondents did not know whether it is safe and ecological. This is probably because they have not really driven Nano. v. The respondents perceive Nano as a car for middle or lower middle class. Its price, its size and its features are the reasons of such an affirmation. It also confirms that it is a car for masses. vi. The research has shown that price and Tata’s brand name are the most important reasons for the people to buy Nano. 96% respondents gave price as the first reason to buy Nano. We believe the company should keep up its brand leverage on the people. It must keep the promised price. The other reasons like design, fuel efficiency, after sale services were not considered important because Nano is yet to be launched. vii. 67% of the respondents think that Nano will be a successful car and just 4% of tem doubt this. That is quite encouraging for Tata’s brand! This also suggest that people trust Tata as a company. They think very positively about Nano despite the fact that it has not launched Projectsformba.blogspot.com
  16. 16. Projectsformba.blogspot.com Issues in the Research i. In the questionaire, in a question where the respondents had to rank the choices from 1 to 7, they ticked only one choice, instead of ranking them. So, we had to narrate that question to most of the respondents in order to get accurate information. ii. The term ‘ecological’ in one of the questions was not very clear. So, we had to explain it to respondents. We defined the term as ‘environment friendly’ to get their responses. iii. Another issue while selecting Sample is Convenience sampling. We decided to go for convenient sampling in order to make the process simple. iv. Our sample does not represent whole target market for Nano. We have choosen only one segment, i.e. young executives. Learnings: This project was useful because it has completed the theory that we learned in class. It al- lows us to use the whole market research process and to understand each stage of it. Thanks to this study, we learned how to conduct a survey through the collection of sec- ondary and primary data and the elaboration and administration of a questionnaire to a se- lected sample. Projectsformba.blogspot.com

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