Hyundai Project
Project report
On
“CONSUMER BEHAVIOR IN AUTOMOBILE SECTOR”
By
U.MADHURI
(BBMT)
BACHELORS OF BUSINESS MANAGEMENT AND TECHNOLOGY
HALL TICKET NUMBER: 56013704
RBVRR WOMEN’S COLLEGE (Autonomous)
NARAYANGUDA, HYDERABAD
Acknowledgement I owe a great many thanks to a great many people helped me and supported me during my project. My deepest thanks to lecturer MISS U. SOUJANYA the guide of the project for guiding and correcting various documents of mine with attention and care. I would also like to thank my HOD Mrs. VAMSHI MOHANA REDDY who has also taken the pain to go through project and make necessary corrections as and when needed. I express my thanks to our principle Mrs. RUMA RAO for extending her support. My deep sense of gratitude to MR.G.NAGARAJAN, CUSTOMER CARE MANAGER, KUN UNTIED HYUNDAI support and guidance. Thanks and appreciation to the help people at KUSHIAGUDA KUN UNITED HYUNDAI for their support. I would thank my institution and my faculty members without whom this project have been a distant reality. I extend my heart full thanks to my family, friends and well wishers.
Declaration:
I U.MADHURI hereby declare that this report entitled “consumer behavior in automobile sector” submitted by me to the department of BBMT of RBVRR WOMEN’S COLLEGE is a bonafied work under taken by me and it is not submitted to any other university/institution for award of any degree/diploma/certificate or published any time before.
Signature of the student Name of the student (U.MADHURI)
CONTENTS 1. INTRODUCTION * CONSUMER BEHAVIOR INTRODUCTION * OBJECTIVE OF THE STUDY * SCOPE OF THE STUDY * LIMITATIONS OF THE STUDY * RESEARCH METHODOLOGY 2. REVIEW OF LITERATURE * CONSUMERE BEHAVOR D DEFINITION * CHARACTERISTICS OF INDIAN CONSUMER * DETERMINATION OR FACTORS EFFECTING CONNSUMER BEHAVIOR * MODELS RELATED TO CONSUMER BEHAVIOR 3. COMPANY PROFILE 4. DATA ANALYSIS AND INTERPRETATION 5. QUESTIONNAIRES 6. CONCLUSION 7. FINDINGS AND SUGGESTION 8. BIBLIOGRAPHY
SECTION 1-INTRODUCTION
CONSUMER BEHAVOR
Consumer behavior is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups.
It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand people 's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.
Consumer behavior can be defined as all psychological, social and physical behavior of all potential consumers as they become aware of, evaluate, purchase, consume and tell others about products and services. with the opening up of the markets or post liberalization period has resulted in many companies entering the market with offerings of their goods and services this has made each marketer to realize that he has to constantly upgrade the consumers knowledge about his product by finding new dimensions. This is because there has been a change in the physical behavior of the consumer. Marketers have also observed a change in the psychological behavior of the consumers. There is an increasing awareness among the consumers to the changes taking place around them resulting in an urge to purchase various goods and services. In other words, there is a positive buying motive shown by the consumers.
This is on account of changing personal and family, social and cultural influences, the influx of the satellite television bringing with it information filled with rich images and data on the global life style. All this has resulted in making the consumer individualist in the present era of every changing consumer tastes. At the same time, marketers and more so the manufacturers of various products and services are also responding by making all adjustments with the focus of attention on the behavior of the consumer.
OBJECTIVES OF THE STUDY: * To study the customers buying behavior towards HYUNDAI car. * To study different factors affecting the customers buying behavior towards HYUNDAI cars. * To study the various models those are involved in consumer behavior. * To understand the variables that influences the buying behavior of the customer.
SCOPE OF THE STUDY * The overall scope of the present study considers all the variables and factors that have major impact over the customers in considering particular brands. This especially includes how a customer regally evaluate recognizes the brand and what position particular brand occupies in the minds of the customers. * This also includes how a customer gets attracted towards the brand and what makes a brand highly significant over their competitive brand.
LIMITATONS OF THE STUDY
As a study is concerned it has got its own limitations. It is obviously understand that such limitation are unavoidable.
Some of the important constraints are: * The study was conducted at Hyderabad city only; it is not applicable for the whole country. * The study was purely confined to 70 samples and is not applicable to entire customers. * In depth study was not possible due to time constraints. RESEARCH METHODOLOGY
Source of data collection
Both primary and secondary data has been used for the study.
Primary data: Primary data are those which are collected for the first time which is original in character. They are directly collected from customer and are reliable. Primary data was collected though a well structured questionnaire.
Secondary data: Secondary data is those which have already collected by someone else secondary data has been collected from company profile, text books and other websites.
SECTION II-REVIEW OF LITRATURE
CONSUMER BEHAVOR DEFITION
Actions that is, behavior undertaken by people that is, consumers that involve the satisfaction of wants and needs. Such actions often, but not always, involve the acquisition that is, purchase of goods and services through markets. The study of consumer behavior is fundamental to the understanding of the demand-side of the market. From a marketing perspective, the patterns, actions or steps in the process of decision making by consumers. The decision making process is influenced by various attitudes, motives, and social influences on the purchaser. Buyers tend to behave in certain ways including habits, brand loyalty, and post purchase behavior.
OBJECTIVES OF THE STUDY OF CONSUMER BEHAVIOR: * The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products, and retailers); * The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); * The behavior of consumers while shopping or making other marketing decisions; * Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome; * How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and * How marketers can adapt and improve their marketing campaigns and their strategies to more effectively reach the consumer.
CHARACTERISTICS OF INDIAN CONSUMER BEHAVIOR:
The Indian consumers are noted for the high degree of value orientation. Such orientation to value has labeled Indians as one of the most discerning consumers in the world.
Even, luxury brands have to design a unique pricing strategy in order to get a foothold in the Indian market.
Indian consumers have a high degree of family orientation. This orientation in fact, extends to the extended family and friends as well.
Brands with identities that support family values tend to be popular and accepted easily in the Indian market.
Indian consumers are also associated with values of nurturing, care and affection. These values are far more dominant than the values of ambition and achievement. Products which communicate feelings and emotions gel with the Indian consumers.
Apart from psychology and economics, the role of history and tradition in shaping the Indian consumer behavior is quite unique. Perhaps, only in India, one sees traditional products along side modern products. For example, hair oils and tooth powder existing with shampoos and toothpaste.
DETERMINANTS OR FACTORS INFLUENCING CONSUMER BEHAVIOR:
CULTURAL FACTORS
Cultural factors have the influence on consumer behavior. CULTURE:
Culture is the most basic fundamental determinant of a person’s wants and behavior. Right from the time of his birth, a child grows up in society learning certain values, perceptions, preferences, behavior and customs, through a process of socialization involving the family and the other key institutions. LEISURE TIME:
Most of the couples are working and hence seeking more ways to increase leisure time to spend on holidaying and sports. They are interested in the purchase of times saving home appliances and services like washing machines, ovens, hotels or resorts, etc.
HEALTH CONSCIOUS:
People are becoming health conscious and are getting involved in activities such as exercises, jogging, yoga, eating lighter and more natural food.
INFORMALITY:
People are adapting a more relaxed and informal life style. This can be seen in their choice of clothing, furnishing and entertaining.
SUBCULTURE:
Each culture will contain smaller groups of subculture that provide more specific identification and socialization for its members. These sub cultural divisions are certain socio-cultural and demographic variables like nationality, religion, geographic locality, caste, age, sex, etc. each subculture may have certain distinct tastes, preferences and even life styles. These factors will influence his food preferences, clothing choices and recreation activities.
SOCIAL CLASS:
Social class also influences the buying behavior. Social classes show distinct products and brand preferences in purchase decisions related to clothing and jeweler, leisure activity automobiles. Higher social class customers may prefer to purchase cloths and toys for their children from Kemp fort whereas lower social class customers may prefer to shop at small retail outlets. Hence social class is very important factor influencing the buying motive behind consumer behavior.
SOCIAL FACTORS:
A consumer’s behavior is also influenced by the social factors, such as consumer’s reference groups, family and social role and status.
REFERENCE GROUPS: A person’s reference groups are those groups that have a direct (face-to-face) or indirect influence on the person’s attitudes or behavior. Groups having direct influence on a person could comprise of people with whom the person interacts on a continuous basis, such as family, friends, neighbors and colleagues. Reference groups can influence the consumer by introducing him/her to new styles by influencing the person’s attitudes and self concept because he/she normally desires to “fit in”. The group also creates pressures for conformity to group attitude and behavior that may affect the person’s actual product/brand choice.
FAMILY:
Members of the buyer’s family can exercise a strong influence on the buyer behavior. Marketers are interested in the roles and relative influence of the husband, wife, children and parents on the purchase of a large variety of products and services.
The marketer is interested in knowing which member normally has greater influence on the purchase of a particular product or service. In a nuclear family, either husband/wife is more dominant or they have equal influence. The following observation has been made in most of the cases:
Category: In the purchase of products
Husband dominant : Automobiles, Television, PC, Policies
Wife dominant : Washing machines, Kitchen appliances
Equal dominant : Housing, Recreation activities etc
So it is the responsibility of the marketers to develop a marketing communication which may be directed differently at the particular influencing personality at the various stages of the buying process.
ROLE AND STATUS:
A person is a member of many groups-families, clubs. Organization, etc and the position in each group can be defined in terms of role and status.
Say for example Mrs. Mehta is a Senior Marketing Executive in a firm and she is planning to purchase a microwave oven with her parents, Mrs. Mehta plays the role of a daughter, in her family, she plays the role of a wife and mother, in her company she plays a role of senior marketing executive. A role consists of the activities that a person is expected to perform according to the persons around them. Each role will reflect a status accorded to the role by the society. The role of a senior marketing executive has more status in the society then the role of a daughter. So, as a senior marketing executive, Mrs. Mehta will buy the kind of clothes that adds dignity to her role and status. But in the role of a daughter, wife or mother, Mrs. Mehta may prefer to wear informal clothes. People often choose products to communicate their status in society.
PERSONAL FACTORS:
A consumer’s purchase decision are also influenced by personal characteristics namely the buyers age and stage of life cycle, occupation, economic circumstances, life style, personality and self concept.
AGE AND STAGE OF LIFE CYCLE:
People’s choice of goods and services changes over their life time. The changes can be observed right from childhood to maturity especially in taste and preferences related to clothes, furniture and recreation activities.
OCCUPATION:
A person’s occupation has a direct effect on his choice of goods and services. A clerk will purchase products which are economical and not burn his pocket. Whereas a top executive will purchase expensive goods and services. Marketers will have to identify which occupation group will be interest in their products and work out marketing strategies to communicate about their products and services to the relevant occupational group and induce a positive buying motive in the particular consumer.
ECONOMIC CIRCUMSTANCES:
A person’s economic circumstances consists of his or her spendable income (amount, stability and time pattern) savings and assets (liquid, movable and immovable) ability to borrow and attitude towards spending versus savings. In other words, income, savings, credit and assets are the elements of a person’s purchasing power. However, this must be backed by the willingness to buy.
LIFE STYLE:
A person’s life style refers to the person’s pattern of living expressed through his/her activities, interest and opinion. Life style of a person conveys more than the person’s social class or personality alone. The marketing manager will have to work out a marketing strategy which will indicate a relationship between a product brand and life style of the product user. For example: multimedia presentation of ‘Raymond’s’ is to indicate the life style of a ‘A complete man’, who takes care of his family members; a well groomed person.
PERSONALITY AND SELF CONCEPT:
Each person has got a distinctive personality which will influence his/her buying behavior. Personality may be defined as the person’s distinguishing psychological characteristics that lead to relatively consistent and enduring responses to his/her own environment.
Personality can be used to analyze consumer behavior because marketers have seen that there exists a co-relation between personality types and product/brand choice. Some of the traits used to describe a person’s personality are: self confidence, dominance, aggressiveness, defensiveness, achievement, deference etc. while on personality, self concept is a related term. It refers to the person’s image of himself or self image. Each person carries a self image of him/her and will purchase goods or services that match the self image. Thus marketers have to develop and communicate brand image that will match the self image of the target customers.
PSYCHOLOGICAL FACTORS:
For the purpose of understanding consumer’s buying behavior four major psychological determinants - motivation, perception, learning & beliefs and attitudes are discussed as under:
MOTIVATION:
Motivation can be said to be the inner drive that is sufficiently pressing and directs the person to seek satisfaction of the need. Satisfaction of the need reduces the felt tension. Maslow’s theory of needs is another attempt to explain motivation. Abraham Maslow seeks to explain why people are driven by particular needs at particular time and why do people differ in their ways of satisfying their needs. Maslow’s hierarchy of need, in the order of importance is given below.
SELF ACTUALISATION NEEDS
ESTEEN NEEDS
SOCIAL NEEDS
SAFETY NEEDS
PHYSOLOGICAL NEEDS PERCEPTION:
Perception is the process of selecting, organizing and interpreting or attaching meaning to events happening in environment.
Perception depends not only on the character of the physical stimuli but also on the relation of the stimuli to the surrounding field and on the actions, thoughts, feeling, etc, within the individual. People emerge with different perceptions of the same stimuli because of the three perceptual processes: selective, exposure, selective distortion and selective retention.
BELIEFS AND ATTITUDES:
Through learning, people acquire certain beliefs and attitudes and in turn this influences their buying behavior. A belief is a thought that a person holds about something. People based on their beliefs helps in building up product and brand image. Attitudes make people to behave in a fairly consistent way towards similar objects. Thus marketers should try to link his products into existing attitudes rather than trying to change people’s attitude.
For instance, a person who lost his parents in a road accident when they were travelling by car may develop a phobia for car travel, would prefer travelling by Train or bus.
MODELS RELATED TO CONSUMER BEHAVIOR
ECONOMIC MODEL:
Economic model of consumer behavior is uni-dimensional. This means the buying decisions of a person is governed by the concept of utility. Economic model is based on certain predictions of buyer behavior.
Price effect: Lesser the price of the product more will be the quantity purchased.
Substitute effect: Less the price of the substitute, less will be the quantity of the original purchase bought.
Income effect: More the purchasing power more will be the quantity purchased.
THE NICOSIA MODEL:
This model tries to explain buyer behavior by establishing a link between the organization and its (prospective) consumer. It is also said to be a system model, because the human being is analyzed as a system, with stimuli as the input to the system and the human behavior as a output of the system. The Nicosia model suggest that message from the firm first influences the predisposition of the consumer towards the product or service.
Based on the situation, the consumer will have a certain attitude towards the product. This may result in a search for the product or an evaluation of the product attributes by the consumer. If the above step satisfies the consumer, it may result in a positive response, with a decision to buy the product otherwise the reverse may occur.
The Nicosia model groups the above activity in four basic areas:
First area: The consumer attribute and the firm attribute. The advertising message send from the company will reach the consumer’s attributes. Depending on the way, the message is received by the consumer a certain attribute may develop.
Second area: It is related to the search and evaluation undertaken by the consumer of the advertised product and also to verify if other alternatives are available.
The third actually explains how the consumer actually buys the product.
Fourth area: It is related to the uses of the product purchased. This area can also be used an as output to receive feedback on sales results to the firm.
One of the marketing challenges faced by a firm is to meet the latent consumer needs. Companies and marketers are engaged in building a value chain around the consumer by offering products which are perceived to be different and better as compared to their competitors. Prior to this, firms were following a mass marketing programme that is offering the same product to everyone. However, realizing the diverse market place, with consumers varying interests, different needs and wants, marketers felt the most effective way to meet the latent consumer’s needs can be through studying their behavior, marketing segmentation program since the consumer is the one who will decide whether or not to buy a particular product, marketers have to understand the role of a consumer in the market and work out marketing programs.
SECTION III- COMPANY PROFILE
Company profile
Hyundai Corporation, Korea’s leading general trading house, provides international trade and distribution services for a wide range of products, including steel, heavy machinery, ships, industrial plants, automobiles, electrical and electronic equipment, and basic commodities.
In addition to export and trading, Hyundai Corporation has achieved remarkable success through investing in energy resource development projects in Asia and the Middle East.
Hyundai Corporation has 34 years of experience in global trades, solid financing capabilities, and unparalleled regional and local expertise through our network of nearly 40 offices worldwide.
In recent years, Hyundai Corporation has further diversified its business portfolio by expanding into new businesses. Notably, it has become a world-class player in the shipbuilding industry by establishing Qingdao Hyundai Shipbuilding, a Chinese subsidiary specializing in the construction of mid-sized commercial vessels.
Hyundai Corporation is also working with select partners to bring Hyundai-branded electronics and other consumer products to households worldwide, and has seen remarkable growth in the sale of mobile phones, digital cameras, and home audio/video systems.
At the end of 2009, Hyundai Corporation became an affiliate of Hyundai Heavy Industries, the world’s undisputed leader in shipbuilding, heavy equipment, and emerging technologies such as solar and wind power.
Hyundai Corporation is now well-poised to become one of the world’s top solutions providers for any number of commercial and industrial needs, with resources, sector and regional expertise, and individual talents second to none.
Organization Structure 1) Headquarters
Sales Segment : 8 Divisions
(Electrical and Mechanical Systems, Automobile and Ship, Steel I, Steel Ⅱ,
Chemical, Strategic Business, Green Energy, Global Works)
Support Segment : 3 Departments
(Finance and Accounting, Corporate Strategic Management , Corporate General Administration) 2) Overseas Offices (Total : 36)
America: 7
Europe : 3
Middle-East and Africa : 7
Russia and the CIS : 4
Asia and Oceania : 18 3) Subsidiaries : 3
Qingdao Hyundai Shipbuilding (Qingdao, China)
POS-Hyundai Steel (Chennai, India)
PT. Inti Development (Bekasi, Indonesia)
MODELS ROLLING OUT OF HYUNDAI
In 1997 Hyundai motors limited launched “santro” the best small car at its worldwide debut in New Delhi. Santro is basically a face lifted version of the “Atos”. Santro was introduced in four different models having varying features and is priced between 3.38 lakhs-4.32lakhs
I10 is a small size car coming in three different versions and are priced between 4.79 lakhs-5.8 lakhs.
Getz is a medium size car coming in seven different versions and is priced between 3.59 lakhs-5.48 lakhs.
I20 is medium size car coming in three different versions and is priced between 4.79lakhs- 5.8lakhs.
Accent is a medium sized car coming in six different versions and is priced between 5.63lakhs-7lakhs.
Verna
Sonata
Tucson
HYUNDAI’S SALES FACTS AND FIGURES
HMIL has dominated the automobile market with the reputation of being the fastest growing automobile manufacturer in India. HMIL 's growth has been driven by volume-oriented revenues coupled with technological soundness and superior designs.
A major force in the Indian automobile scenario, HMIL is the second largest manufacturer in India. Focusing on the latest technologies and innovative marketing strategies, HMIL has carved out a niche for itself in the market today with most of its models leading in their respective segments. It’s been a long journey from just 8,447 units in 1998, till today when HMIL has become a key player in driving the industry growth year after year.
In calendar year 2010 (Jan – Dec) HMIL grew by 7.8% cumulatively registering total sales of 603,819 units as against 559,880 units of 2009 with domestic sales surging by 23.1% over 2009. Domestic sales accounted for 356,717 units in 2010 as against 289,863 in the year 2009. Overseas sales accounted for 247,102 units as against 270,017 units in 2009 which reflects a decline of 8.5% for the calendar year 2010.
INTRODUCTION AUTOMOBILE SECTOR IN INDIA
The automotive industry in India is one of the largest in the world and one of the fastest growing globally. India 's passenger car and commercial vehicle manufacturing industry is the seventh largest in the world, with an annual production of more than 3.7 million units in 2010. According to recent reports, India is set to overtake Brazil to become the sixth largest passenger vehicle producer in the world, growing 16-18 per cent to sell around three million units in the course of 2011-12. In 2009, India emerged as Asia 's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand. In 2010, India reached as Asia 's third largest exporter of passenger cars, behind Japan and South Korea beating Thailand. As of 2010, India is home to 40 million passenger vehicles. More than 3.7 million automotive vehicles were produced in India in 2010 (an increase of 33.9%), making the country the second fastest growing automobile market in the world. According to the Society of Indian Automobile Manufacturers, annual vehicle sales are projected to increase to 5 million by 2015 and more than 9 million by 2020. By 2050, the country is expected to top the world in car volumes with approximately 611 million vehicles on the nation 's roads.
The majority of India 's car manufacturing industry is based around three clusters in the south, west and north. The southern cluster near Chennai is the biggest with 35% of the revenue share. The western hub near Maharashtra is 33% of the market.
The northern cluster is primarily Haryana with 32%.Chennai, is also referred to as the "Detroit of India" with the India operations. of Ford, Hyundai, Renault and Nissan headquartered in the city and BMW having an assembly plant on the outskirts. Chennai accounts for 60% of the country 's automotive exports.
The Indian Automobile Industry manufactures over 11 million vehicles and exports about 1.5 million each year. The dominant products of the industry are two-wheelers with a market share of over 75% and passenger cars with a market share of about 16%. Commercial vehicles and three-wheelers share about 9% of the market between them. About 91% of the vehicles sold are used by households and only about 9% for commercial purposes the industry has a turnover of more than USD $35 billion and provides direct and indirect employment to over 13 million people.
Interestingly, the level of trade exports in this sector in India has been medium and imports have been low. However, this is rapidly changing and both exports and imports are increasing. The demand determinants of the industry are factors like affordability, product innovation, infrastructure and price of fuel. Also, the basis of competition in the sector is high and increasing, and its life cycle stage is growth. With a rapidly growing middle class, all the advantages of this sector in India are yet to be leveraged.
With a high cost of developing production facilities, limited accessibility to new technology, and increasing competition, the barriers to enter the Indian Automotive sector are high. On the other hand, India has a well-developed tax structure. The power to levy taxes and duties is distributed among the three tiers of Government. The cost structure of the industry is fairly traditional, but the profitability of motor vehicle manufacturers has been rising over the past five years. Major players, like Tata Motors and Maruti Suzuki have material cost of about 80% but are recording profits after tax of about 6% to 11%.
The level of technology change in the Motor vehicle Industry has been high but, the rate of change in technology has been medium. Investment in the technology by the producers has been high. However, further investment in new technologies will help the industry be more competitive. Over the past few years, the industry has been volatile. Currently, India 's increasing per capita disposable income which is expected to rise by 106% by 2015 and growth in exports is playing a major role in the rise and competitiveness of the industry.
Tata Motors is leading the commercial vehicle segment with a market share of about 64%.Maruti Suzuki is leading the passenger vehicle segment with a market share of 46%. Hyundai Motor India and Mahindra and Mahindra are focusing expanding their footprint in the overseas market. Hero Moto Corp is occupying over 41% and sharing 26% of the two-wheeler market in India with Bajaj Auto. Bajaj Auto in itself is occupying about 58% of the three-wheeler market.
Both, Industry and Indian Government are obligated to intervene the Indian Automotive industry. The Indian government should facilitate infrastructure creation, create favorable and predictable business environment, attract investment and promote research and development. The role of Industry will primarily be in designing and manufacturing products of world-class quality establishing cost competitiveness and improving productivity in labor and in capital. With a combined effort, the Indian Automotive industry will emerge as the destination of choice in the world for design and manufacturing of automobiles.
SECTION IV-DATA ANALYSIS AND INTERPRETATION
1. Please tick the Hyundai vehicle you have purchased recently
please tick the Hyundai vehicle you have purchased recently | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | santro | 28 | 40.0 | 40.0 | 40.0 | | i10 | 23 | 32.9 | 32.9 | 72.9 | | i20 | 6 | 8.6 | 8.6 | 81.4 | | getz | 9 | 12.9 | 12.9 | 94.3 | | accent | 4 | 5.7 | 5.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
INTERPRETATION:
As stated in the study, 40% buy Santro, 32.9% buy i10, 8.6% buy i20, 12.9% buy Getz and 5.7% buy Accent.
2. Is Hyundai your first vehicle?
2.is hyundai your first vehicle | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 52 | 74.3 | 74.3 | 74.3 | | No | 18 | 25.7 | 25.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
In the above graph, 74.3% people say that Hyundai was their first vehicle and 25.7% people say that Hyundai wasn’t their first vehicle.
3. What is the purpose of buying the car? what is the purpose of buying the car | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Personal | 63 | 90.0 | 90.0 | 90.0 | | Business | 4 | 5.7 | 5.7 | 95.7 | | Company | 3 | 4.3 | 4.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The above graph states that 90% people use their for personal purpose, 5.7% people use it for business purpose and 4.3% people use it for company purpose.
4. Why do you prefer Hyundai vehicle? why do you prefer Hyundai vehicle | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | its design | 48 | 68.6 | 68.6 | 68.6 | | its prices | 6 | 8.6 | 8.6 | 77.1 | | their services | 9 | 12.9 | 12.9 | 90.0 | | Others | 7 | 10.0 | 10.0 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The above diagram represents that 68.6% people prefer Hyundai vehicles due to its design,8.6% prefer Hyundai due to its price affordability, 12.9% people opt Hyundai due the services that are provided by them and 10% prefer it due its fuel efficiency, interiors etc.
5. How was your experience prior to confirming your order for vehicle rating them?
how was your experience prior to confirming your order for vehicle rate them | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 4 | 5.7 | 5.7 | 5.7 | | 9- good | 56 | 80.0 | 80.0 | 85.7 | | 10-excellent | 10 | 14.3 | 14.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graph represents the experience of the customers before booking their vehicle, their satisfaction levels are as follows 5.7% rate their experience as poor,80% rate it as good and14.3% rate them as excellent. 6. How do you rate the dealer facility?
how do you rate the dealer facility | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-9 poor | 4 | 5.7 | 5.7 | 5.7 | | 9-good | 53 | 75.7 | 75.7 | 81.4 | | 10-excellent | 13 | 18.6 | 18.6 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graph explains us the level of satisfaction of the consumers with kun united Hyundai, 5.7% people rate them under poor, 75.7% rate them under good and 18.6% rate them as excellent.
7. How do you rate your sales person and his knowledge about Hyundai and its competitors? how do you rate yor sales person and his knowledge about hyundai and its competitiors | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 16 | 22.9 | 22.9 | 22.9 | | 9- good | 43 | 61.4 | 61.4 | 84.3 | | 10- excellent | 11 | 15.7 | 15.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study explain us that the knowledge of the sales person at kun united Hyundai are good. They are rates as 22.9% rate them as poor, 61.4% rate them as good and 15.7% rate them excellent which is highly appreciable. 8. How did you approach Hyundai? What is the source? how did you approach Hyundai? what is the source? | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | direct walk in | 34 | 48.6 | 48.6 | 48.6 | | tele enquiry | 11 | 15.7 | 15.7 | 64.3 | | television advertising | 15 | 21.4 | 21.4 | 85.7 | | paper advertising | 10 | 14.3 | 14.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study reveals that Hyundai adapts various forms of medium to promote their product.48.6% people directly walk-in to the show room,15.7% are through teleenquiry,21.4% are form T.V advertisement and 14.2% are through paper advertisement.
9. Do your children or spouse influence your decision in buying the car?
do children or spouse influence your decision in buying a car | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 51 | 72.9 | 72.9 | 72.9 | | No | 19 | 27.1 | 27.1 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The figure above represents how family members and children influence in buying a car. People get more influenced with family members and their opinions. The study tells us that 72.9% are influenced by their family members whereas 27.1% are not influenced.
10. Are you satisfied with Hyundai prices? are you satsfied with hyudnai prices | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 64 | 91.4 | 91.4 | 91.4 | | No | 6 | 8.6 | 8.6 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
Price is one the important factor that influences the buyers. the study inferences that the most of the Hyundai customers are satisfied with the prices and they tend to opt the car. Therefore 91.4% people are satisfied whereas 8.6% people are not satisfied.
11. Do you prefer colors in the models you choose? do you perfer colors in the model you choose | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 60 | 85.7 | 85.7 | 85.7 | | No | 10 | 14.3 | 14.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretations:
The study tells us that 85.7% of the people prefer colors in the model they choose whereas 14.3% do not prefer color in the model they choose.
12. Were you satisfied with the post sales follow up by Hyundai? were you stsfied with the post sales fllow up by Hyundai | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 63 | 90.0 | 90.0 | 90.0 | | No | 7 | 10.0 | 10.0 | 100.0 | | Total | 70 | 100.0 | 100.0 | | | | | | | |
Interpretation:
The graph explains us the satisfaction levels of the consumers with the sales follow up by Hyundai.90% of the consumers were satisfied with the follow ups and whereas 10% were not satisfied.
13. What is your rating on timeliness of delivery? what is your rating on timeliness of delivery | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 1 | 1.4 | 1.4 | 1.4 | | 9- good | 56 | 80.0 | 80.0 | 81.4 | | 10- excellent | 13 | 18.6 | 18.6 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study explains us the timeliness of delivery of the car. Timeliness of the delivery is rated as follows 1.4% is rated as poor, 80% is rated as good and 18.6% is rated as excellent.
14. Was your vehicle delivered on time? was your vehicle delivered on time | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 65 | 92.9 | 92.9 | 92.9 | | No | 5 | 7.1 | 7.1 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study explains that most of the cars were delivered on time that is 92.9% were delivered on time and 7.1% of the cars were t delivered on time.
15. Were you satisfied with the dealer were you satisfied with the dealer | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | yes | 67 | 95.7 | 95.7 | 95.7 | | no | 3 | 4.3 | 4.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation
The study explains customers were satisfied with the dealer and their facilities. The graph explains that 95.7%customers were satisfied with their services and 4.3% were not satisfied.
16. How do you rate the level of satisfaction with the dealer?
how do you rate the level of satisfaction with the dealership | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 3 | 4.3 | 4.3 | 4.3 | | 9- good | 56 | 80.0 | 80.0 | 84.3 | | 10-excellent | 11 | 15.7 | 15.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study shows that most of the customers are satisfied with the dealer and their services. It shows that 4.4 % customers rated them as poor, 18% rated them as good and 15.7% rated them as excellent.
17. Do you have reasons to complain to the dealer since the delivery of the car?
do you have reasons to complain to the dealer since the delivery of the car | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | yes | 8 | 11.4 | 11.4 | 11.4 | | no | 62 | 88.6 | 88.6 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graph represents that most of people have no complains with the dealer that is 11.4% have reasons to complain were as 88.6% customers have no reasons to complain.
18. How do you rate the quality of your new Hyundai vehicle?
how do you rate the quality of your new hyundai vehicle | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 1 | 1.4 | 1.4 | 1.4 | | 9- good | 51 | 72.9 | 72.9 | 74.3 | | 10-excellent | 18 | 25.7 | 25.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graphs represents most of the customers are satisfied with the quality of their new Hyundai vehicle. The ratings are as follows 1.4% rate them as poor, 72.9% rated them as good and were as 25.7% rated them as excellent.
19. Would you recommend kun Hyundai to your friends or family would you recomend kun hyundai to your friends or family | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | yes | 67 | 95.7 | 95.7 | 95.7 | | no | 3 | 4.3 | 4.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graph represents that customers are satisfied with the Hyundai vehicles so they recommend the vehicle to their friends and family. Customers would recommend and rated them as 95.7% would recommend it and 4.3% would not recommend.
FEEDBACK
Name: Gender:
Age: Occupation:
Annual Income: Date:
* Please tick the Hyundai vehicle you have purchased recently i) santro ii) i10 iii) i20 iv) getz v) Accent vi) verna vii) Tucson viii) sonata
* Is Hyundai your first vehicle i) Yes ii) No
* What is the purpose of buying the car? i) Personal ii) Business iii) Company iv)others
* Why do you prefer Hyundai vehicles? i) Its design ii) Its price iii) Their services iv) Others
* How was your experience with the dealers prior to confirming your order for vehicle rate them? i) 1-8 poor ii) 9-Good iii) 10- excellent
* How do you rate the dealer facility? i) 1-8 Poor ii) 9-Good iii) 10- Excellent
* How do you rate your sales person and his knowledge about Hyundai and its competitors? i) 1-8 Poor ii) 9-Good iii) 10- Excellent
* How did you approach Hyundai? What is the source? i) Direct walk-in ii) Tele enquiry iii)T.V advertising iv) Paper advertising
* Do children or your spouse influence your decision in buying the car? i) Yes ii) No * Are you satisfied with Hyundai prices? i) Yes ii) No
* Do you prefer colors in the model you choose?
i) Yes ii) No
* Were you satisfied with the post sales follow up by Hyundai?
i) Yes ii) No
* What is your rating on timeliness on delivery?
i)1-8 poor 9-good 10-excellent
* Was your vehicle delivered on time?
i)Yes ii)No * Do you have any reasons to complain to the dealer since the time of delivery of the car?
i)Yes ii)No
* Were you satisfied with the dealer?
i)yes ii)No * How do you rate the level of satisfaction with the dealership?
i)1-8poor ii) 9-good iii)10-excellent
* How do you rate the quality of your new Hyundai vehicle?
i)1-8 poor ii)9-good iii)10-excellent
* Would you recommend kun Hyundai to your friends/relatives?
i)Yes ii)No
-------------------------------------------------
Please suggest few improvements in sales process and sales staff for achieving higher levels of customer satisfaction
Thank you
FINDINGS
* Customers are aware of the brand “Hyundai” which markets the products like cars, electronics, machinery etc * Hyundai is more successful in its automobile than any other sector, where santro is sold high in number as compared to other models. * Most of the consumers give preference to Hyundai cars and thus it is the first vehicle they buy. * Consumers purchase car more for their personal use then any other. * Consumers prefer Hyundai vehicles due to its design. Hyundai always gives a trendy and sporty look to the car which many of the customers prefer. * Maximum customers were satisfied with the dealer and their facilities. * Customers were also satisfied with the sales person and their knowledge about the cars and about their competitors. * It is revealed that Hyundai adopts various medium to promote their products, people are aware of Hyundai through media like newspaper, television advertisement etc. * It is noticed that family members do influence the buying decision. * Price is one of the most important factors that affect the buying behavior. More economic the car is more are the units sold. * The study reveals that the cars were delivered on time and maximum people have no complains. * Maximum customers are satisfied with the quality of their new Hyundai vehicle.
CONCLUSION * From the analysis from feedback form it reveals that people from Hyderabad prefer Hyundai vehicles. * Tata, Maruti, Honda etc are few competitors to Hyundai in the market. * Kun United Hyundai is one of the finest dealers of Hyundai in India, they have a good scale of sales every year and they provide a good piece of services to the customers. * Mostly high class persons prefer Hyundai cars for their personal purpose. * Study shows that middle class segment highly influenced by family and friends while purchasing the car.
Bibliography * Philip kotler, marketing management, 12th edition pearson education inc, New Delhi * Schiffman, lean G and kannut lazar;consumer behavior prentice hall off India. * Suja R. Nair: consumer behavior Himalaya publishers.
Websites:
www.hyundai.in www.kununited.com www.santafemods.com
Bibliography: * Philip kotler, marketing management, 12th edition pearson education inc, New Delhi * Schiffman, lean G and kannut lazar;consumer behavior prentice hall off India. * Suja R. Nair: consumer behavior Himalaya publishers. Websites: www.hyundai.in www.kununited.com www.santafemods.com
On
“CONSUMER BEHAVIOR IN AUTOMOBILE SECTOR”
By
U.MADHURI
(BBMT)
BACHELORS OF BUSINESS MANAGEMENT AND TECHNOLOGY
HALL TICKET NUMBER: 56013704
RBVRR WOMEN’S COLLEGE (Autonomous)
NARAYANGUDA, HYDERABAD
Acknowledgement I owe a great many thanks to a great many people helped me and supported me during my project. My deepest thanks to lecturer MISS U. SOUJANYA the guide of the project for guiding and correcting various documents of mine with attention and care. I would also like to thank my HOD Mrs. VAMSHI MOHANA REDDY who has also taken the pain to go through project and make necessary corrections as and when needed. I express my thanks to our principle Mrs. RUMA RAO for extending her support. My deep sense of gratitude to MR.G.NAGARAJAN, CUSTOMER CARE MANAGER, KUN UNTIED HYUNDAI support and guidance. Thanks and appreciation to the help people at KUSHIAGUDA KUN UNITED HYUNDAI for their support. I would thank my institution and my faculty members without whom this project have been a distant reality. I extend my heart full thanks to my family, friends and well wishers.
Declaration:
I U.MADHURI hereby declare that this report entitled “consumer behavior in automobile sector” submitted by me to the department of BBMT of RBVRR WOMEN’S COLLEGE is a bonafied work under taken by me and it is not submitted to any other university/institution for award of any degree/diploma/certificate or published any time before.
Signature of the student Name of the student (U.MADHURI)
CONTENTS 1. INTRODUCTION * CONSUMER BEHAVIOR INTRODUCTION * OBJECTIVE OF THE STUDY * SCOPE OF THE STUDY * LIMITATIONS OF THE STUDY * RESEARCH METHODOLOGY 2. REVIEW OF LITERATURE * CONSUMERE BEHAVOR D DEFINITION * CHARACTERISTICS OF INDIAN CONSUMER * DETERMINATION OR FACTORS EFFECTING CONNSUMER BEHAVIOR * MODELS RELATED TO CONSUMER BEHAVIOR 3. COMPANY PROFILE 4. DATA ANALYSIS AND INTERPRETATION 5. QUESTIONNAIRES 6. CONCLUSION 7. FINDINGS AND SUGGESTION 8. BIBLIOGRAPHY
SECTION 1-INTRODUCTION
CONSUMER BEHAVOR
Consumer behavior is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups.
It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand people 's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.
Consumer behavior can be defined as all psychological, social and physical behavior of all potential consumers as they become aware of, evaluate, purchase, consume and tell others about products and services. with the opening up of the markets or post liberalization period has resulted in many companies entering the market with offerings of their goods and services this has made each marketer to realize that he has to constantly upgrade the consumers knowledge about his product by finding new dimensions. This is because there has been a change in the physical behavior of the consumer. Marketers have also observed a change in the psychological behavior of the consumers. There is an increasing awareness among the consumers to the changes taking place around them resulting in an urge to purchase various goods and services. In other words, there is a positive buying motive shown by the consumers.
This is on account of changing personal and family, social and cultural influences, the influx of the satellite television bringing with it information filled with rich images and data on the global life style. All this has resulted in making the consumer individualist in the present era of every changing consumer tastes. At the same time, marketers and more so the manufacturers of various products and services are also responding by making all adjustments with the focus of attention on the behavior of the consumer.
OBJECTIVES OF THE STUDY: * To study the customers buying behavior towards HYUNDAI car. * To study different factors affecting the customers buying behavior towards HYUNDAI cars. * To study the various models those are involved in consumer behavior. * To understand the variables that influences the buying behavior of the customer.
SCOPE OF THE STUDY * The overall scope of the present study considers all the variables and factors that have major impact over the customers in considering particular brands. This especially includes how a customer regally evaluate recognizes the brand and what position particular brand occupies in the minds of the customers. * This also includes how a customer gets attracted towards the brand and what makes a brand highly significant over their competitive brand.
LIMITATONS OF THE STUDY
As a study is concerned it has got its own limitations. It is obviously understand that such limitation are unavoidable.
Some of the important constraints are: * The study was conducted at Hyderabad city only; it is not applicable for the whole country. * The study was purely confined to 70 samples and is not applicable to entire customers. * In depth study was not possible due to time constraints. RESEARCH METHODOLOGY
Source of data collection
Both primary and secondary data has been used for the study.
Primary data: Primary data are those which are collected for the first time which is original in character. They are directly collected from customer and are reliable. Primary data was collected though a well structured questionnaire.
Secondary data: Secondary data is those which have already collected by someone else secondary data has been collected from company profile, text books and other websites.
SECTION II-REVIEW OF LITRATURE
CONSUMER BEHAVOR DEFITION
Actions that is, behavior undertaken by people that is, consumers that involve the satisfaction of wants and needs. Such actions often, but not always, involve the acquisition that is, purchase of goods and services through markets. The study of consumer behavior is fundamental to the understanding of the demand-side of the market. From a marketing perspective, the patterns, actions or steps in the process of decision making by consumers. The decision making process is influenced by various attitudes, motives, and social influences on the purchaser. Buyers tend to behave in certain ways including habits, brand loyalty, and post purchase behavior.
OBJECTIVES OF THE STUDY OF CONSUMER BEHAVIOR: * The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products, and retailers); * The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); * The behavior of consumers while shopping or making other marketing decisions; * Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome; * How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and * How marketers can adapt and improve their marketing campaigns and their strategies to more effectively reach the consumer.
CHARACTERISTICS OF INDIAN CONSUMER BEHAVIOR:
The Indian consumers are noted for the high degree of value orientation. Such orientation to value has labeled Indians as one of the most discerning consumers in the world.
Even, luxury brands have to design a unique pricing strategy in order to get a foothold in the Indian market.
Indian consumers have a high degree of family orientation. This orientation in fact, extends to the extended family and friends as well.
Brands with identities that support family values tend to be popular and accepted easily in the Indian market.
Indian consumers are also associated with values of nurturing, care and affection. These values are far more dominant than the values of ambition and achievement. Products which communicate feelings and emotions gel with the Indian consumers.
Apart from psychology and economics, the role of history and tradition in shaping the Indian consumer behavior is quite unique. Perhaps, only in India, one sees traditional products along side modern products. For example, hair oils and tooth powder existing with shampoos and toothpaste.
DETERMINANTS OR FACTORS INFLUENCING CONSUMER BEHAVIOR:
CULTURAL FACTORS
Cultural factors have the influence on consumer behavior. CULTURE:
Culture is the most basic fundamental determinant of a person’s wants and behavior. Right from the time of his birth, a child grows up in society learning certain values, perceptions, preferences, behavior and customs, through a process of socialization involving the family and the other key institutions. LEISURE TIME:
Most of the couples are working and hence seeking more ways to increase leisure time to spend on holidaying and sports. They are interested in the purchase of times saving home appliances and services like washing machines, ovens, hotels or resorts, etc.
HEALTH CONSCIOUS:
People are becoming health conscious and are getting involved in activities such as exercises, jogging, yoga, eating lighter and more natural food.
INFORMALITY:
People are adapting a more relaxed and informal life style. This can be seen in their choice of clothing, furnishing and entertaining.
SUBCULTURE:
Each culture will contain smaller groups of subculture that provide more specific identification and socialization for its members. These sub cultural divisions are certain socio-cultural and demographic variables like nationality, religion, geographic locality, caste, age, sex, etc. each subculture may have certain distinct tastes, preferences and even life styles. These factors will influence his food preferences, clothing choices and recreation activities.
SOCIAL CLASS:
Social class also influences the buying behavior. Social classes show distinct products and brand preferences in purchase decisions related to clothing and jeweler, leisure activity automobiles. Higher social class customers may prefer to purchase cloths and toys for their children from Kemp fort whereas lower social class customers may prefer to shop at small retail outlets. Hence social class is very important factor influencing the buying motive behind consumer behavior.
SOCIAL FACTORS:
A consumer’s behavior is also influenced by the social factors, such as consumer’s reference groups, family and social role and status.
REFERENCE GROUPS: A person’s reference groups are those groups that have a direct (face-to-face) or indirect influence on the person’s attitudes or behavior. Groups having direct influence on a person could comprise of people with whom the person interacts on a continuous basis, such as family, friends, neighbors and colleagues. Reference groups can influence the consumer by introducing him/her to new styles by influencing the person’s attitudes and self concept because he/she normally desires to “fit in”. The group also creates pressures for conformity to group attitude and behavior that may affect the person’s actual product/brand choice.
FAMILY:
Members of the buyer’s family can exercise a strong influence on the buyer behavior. Marketers are interested in the roles and relative influence of the husband, wife, children and parents on the purchase of a large variety of products and services.
The marketer is interested in knowing which member normally has greater influence on the purchase of a particular product or service. In a nuclear family, either husband/wife is more dominant or they have equal influence. The following observation has been made in most of the cases:
Category: In the purchase of products
Husband dominant : Automobiles, Television, PC, Policies
Wife dominant : Washing machines, Kitchen appliances
Equal dominant : Housing, Recreation activities etc
So it is the responsibility of the marketers to develop a marketing communication which may be directed differently at the particular influencing personality at the various stages of the buying process.
ROLE AND STATUS:
A person is a member of many groups-families, clubs. Organization, etc and the position in each group can be defined in terms of role and status.
Say for example Mrs. Mehta is a Senior Marketing Executive in a firm and she is planning to purchase a microwave oven with her parents, Mrs. Mehta plays the role of a daughter, in her family, she plays the role of a wife and mother, in her company she plays a role of senior marketing executive. A role consists of the activities that a person is expected to perform according to the persons around them. Each role will reflect a status accorded to the role by the society. The role of a senior marketing executive has more status in the society then the role of a daughter. So, as a senior marketing executive, Mrs. Mehta will buy the kind of clothes that adds dignity to her role and status. But in the role of a daughter, wife or mother, Mrs. Mehta may prefer to wear informal clothes. People often choose products to communicate their status in society.
PERSONAL FACTORS:
A consumer’s purchase decision are also influenced by personal characteristics namely the buyers age and stage of life cycle, occupation, economic circumstances, life style, personality and self concept.
AGE AND STAGE OF LIFE CYCLE:
People’s choice of goods and services changes over their life time. The changes can be observed right from childhood to maturity especially in taste and preferences related to clothes, furniture and recreation activities.
OCCUPATION:
A person’s occupation has a direct effect on his choice of goods and services. A clerk will purchase products which are economical and not burn his pocket. Whereas a top executive will purchase expensive goods and services. Marketers will have to identify which occupation group will be interest in their products and work out marketing strategies to communicate about their products and services to the relevant occupational group and induce a positive buying motive in the particular consumer.
ECONOMIC CIRCUMSTANCES:
A person’s economic circumstances consists of his or her spendable income (amount, stability and time pattern) savings and assets (liquid, movable and immovable) ability to borrow and attitude towards spending versus savings. In other words, income, savings, credit and assets are the elements of a person’s purchasing power. However, this must be backed by the willingness to buy.
LIFE STYLE:
A person’s life style refers to the person’s pattern of living expressed through his/her activities, interest and opinion. Life style of a person conveys more than the person’s social class or personality alone. The marketing manager will have to work out a marketing strategy which will indicate a relationship between a product brand and life style of the product user. For example: multimedia presentation of ‘Raymond’s’ is to indicate the life style of a ‘A complete man’, who takes care of his family members; a well groomed person.
PERSONALITY AND SELF CONCEPT:
Each person has got a distinctive personality which will influence his/her buying behavior. Personality may be defined as the person’s distinguishing psychological characteristics that lead to relatively consistent and enduring responses to his/her own environment.
Personality can be used to analyze consumer behavior because marketers have seen that there exists a co-relation between personality types and product/brand choice. Some of the traits used to describe a person’s personality are: self confidence, dominance, aggressiveness, defensiveness, achievement, deference etc. while on personality, self concept is a related term. It refers to the person’s image of himself or self image. Each person carries a self image of him/her and will purchase goods or services that match the self image. Thus marketers have to develop and communicate brand image that will match the self image of the target customers.
PSYCHOLOGICAL FACTORS:
For the purpose of understanding consumer’s buying behavior four major psychological determinants - motivation, perception, learning & beliefs and attitudes are discussed as under:
MOTIVATION:
Motivation can be said to be the inner drive that is sufficiently pressing and directs the person to seek satisfaction of the need. Satisfaction of the need reduces the felt tension. Maslow’s theory of needs is another attempt to explain motivation. Abraham Maslow seeks to explain why people are driven by particular needs at particular time and why do people differ in their ways of satisfying their needs. Maslow’s hierarchy of need, in the order of importance is given below.
SELF ACTUALISATION NEEDS
ESTEEN NEEDS
SOCIAL NEEDS
SAFETY NEEDS
PHYSOLOGICAL NEEDS PERCEPTION:
Perception is the process of selecting, organizing and interpreting or attaching meaning to events happening in environment.
Perception depends not only on the character of the physical stimuli but also on the relation of the stimuli to the surrounding field and on the actions, thoughts, feeling, etc, within the individual. People emerge with different perceptions of the same stimuli because of the three perceptual processes: selective, exposure, selective distortion and selective retention.
BELIEFS AND ATTITUDES:
Through learning, people acquire certain beliefs and attitudes and in turn this influences their buying behavior. A belief is a thought that a person holds about something. People based on their beliefs helps in building up product and brand image. Attitudes make people to behave in a fairly consistent way towards similar objects. Thus marketers should try to link his products into existing attitudes rather than trying to change people’s attitude.
For instance, a person who lost his parents in a road accident when they were travelling by car may develop a phobia for car travel, would prefer travelling by Train or bus.
MODELS RELATED TO CONSUMER BEHAVIOR
ECONOMIC MODEL:
Economic model of consumer behavior is uni-dimensional. This means the buying decisions of a person is governed by the concept of utility. Economic model is based on certain predictions of buyer behavior.
Price effect: Lesser the price of the product more will be the quantity purchased.
Substitute effect: Less the price of the substitute, less will be the quantity of the original purchase bought.
Income effect: More the purchasing power more will be the quantity purchased.
THE NICOSIA MODEL:
This model tries to explain buyer behavior by establishing a link between the organization and its (prospective) consumer. It is also said to be a system model, because the human being is analyzed as a system, with stimuli as the input to the system and the human behavior as a output of the system. The Nicosia model suggest that message from the firm first influences the predisposition of the consumer towards the product or service.
Based on the situation, the consumer will have a certain attitude towards the product. This may result in a search for the product or an evaluation of the product attributes by the consumer. If the above step satisfies the consumer, it may result in a positive response, with a decision to buy the product otherwise the reverse may occur.
The Nicosia model groups the above activity in four basic areas:
First area: The consumer attribute and the firm attribute. The advertising message send from the company will reach the consumer’s attributes. Depending on the way, the message is received by the consumer a certain attribute may develop.
Second area: It is related to the search and evaluation undertaken by the consumer of the advertised product and also to verify if other alternatives are available.
The third actually explains how the consumer actually buys the product.
Fourth area: It is related to the uses of the product purchased. This area can also be used an as output to receive feedback on sales results to the firm.
One of the marketing challenges faced by a firm is to meet the latent consumer needs. Companies and marketers are engaged in building a value chain around the consumer by offering products which are perceived to be different and better as compared to their competitors. Prior to this, firms were following a mass marketing programme that is offering the same product to everyone. However, realizing the diverse market place, with consumers varying interests, different needs and wants, marketers felt the most effective way to meet the latent consumer’s needs can be through studying their behavior, marketing segmentation program since the consumer is the one who will decide whether or not to buy a particular product, marketers have to understand the role of a consumer in the market and work out marketing programs.
SECTION III- COMPANY PROFILE
Company profile
Hyundai Corporation, Korea’s leading general trading house, provides international trade and distribution services for a wide range of products, including steel, heavy machinery, ships, industrial plants, automobiles, electrical and electronic equipment, and basic commodities.
In addition to export and trading, Hyundai Corporation has achieved remarkable success through investing in energy resource development projects in Asia and the Middle East.
Hyundai Corporation has 34 years of experience in global trades, solid financing capabilities, and unparalleled regional and local expertise through our network of nearly 40 offices worldwide.
In recent years, Hyundai Corporation has further diversified its business portfolio by expanding into new businesses. Notably, it has become a world-class player in the shipbuilding industry by establishing Qingdao Hyundai Shipbuilding, a Chinese subsidiary specializing in the construction of mid-sized commercial vessels.
Hyundai Corporation is also working with select partners to bring Hyundai-branded electronics and other consumer products to households worldwide, and has seen remarkable growth in the sale of mobile phones, digital cameras, and home audio/video systems.
At the end of 2009, Hyundai Corporation became an affiliate of Hyundai Heavy Industries, the world’s undisputed leader in shipbuilding, heavy equipment, and emerging technologies such as solar and wind power.
Hyundai Corporation is now well-poised to become one of the world’s top solutions providers for any number of commercial and industrial needs, with resources, sector and regional expertise, and individual talents second to none.
Organization Structure 1) Headquarters
Sales Segment : 8 Divisions
(Electrical and Mechanical Systems, Automobile and Ship, Steel I, Steel Ⅱ,
Chemical, Strategic Business, Green Energy, Global Works)
Support Segment : 3 Departments
(Finance and Accounting, Corporate Strategic Management , Corporate General Administration) 2) Overseas Offices (Total : 36)
America: 7
Europe : 3
Middle-East and Africa : 7
Russia and the CIS : 4
Asia and Oceania : 18 3) Subsidiaries : 3
Qingdao Hyundai Shipbuilding (Qingdao, China)
POS-Hyundai Steel (Chennai, India)
PT. Inti Development (Bekasi, Indonesia)
MODELS ROLLING OUT OF HYUNDAI
In 1997 Hyundai motors limited launched “santro” the best small car at its worldwide debut in New Delhi. Santro is basically a face lifted version of the “Atos”. Santro was introduced in four different models having varying features and is priced between 3.38 lakhs-4.32lakhs
I10 is a small size car coming in three different versions and are priced between 4.79 lakhs-5.8 lakhs.
Getz is a medium size car coming in seven different versions and is priced between 3.59 lakhs-5.48 lakhs.
I20 is medium size car coming in three different versions and is priced between 4.79lakhs- 5.8lakhs.
Accent is a medium sized car coming in six different versions and is priced between 5.63lakhs-7lakhs.
Verna
Sonata
Tucson
HYUNDAI’S SALES FACTS AND FIGURES
HMIL has dominated the automobile market with the reputation of being the fastest growing automobile manufacturer in India. HMIL 's growth has been driven by volume-oriented revenues coupled with technological soundness and superior designs.
A major force in the Indian automobile scenario, HMIL is the second largest manufacturer in India. Focusing on the latest technologies and innovative marketing strategies, HMIL has carved out a niche for itself in the market today with most of its models leading in their respective segments. It’s been a long journey from just 8,447 units in 1998, till today when HMIL has become a key player in driving the industry growth year after year.
In calendar year 2010 (Jan – Dec) HMIL grew by 7.8% cumulatively registering total sales of 603,819 units as against 559,880 units of 2009 with domestic sales surging by 23.1% over 2009. Domestic sales accounted for 356,717 units in 2010 as against 289,863 in the year 2009. Overseas sales accounted for 247,102 units as against 270,017 units in 2009 which reflects a decline of 8.5% for the calendar year 2010.
INTRODUCTION AUTOMOBILE SECTOR IN INDIA
The automotive industry in India is one of the largest in the world and one of the fastest growing globally. India 's passenger car and commercial vehicle manufacturing industry is the seventh largest in the world, with an annual production of more than 3.7 million units in 2010. According to recent reports, India is set to overtake Brazil to become the sixth largest passenger vehicle producer in the world, growing 16-18 per cent to sell around three million units in the course of 2011-12. In 2009, India emerged as Asia 's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand. In 2010, India reached as Asia 's third largest exporter of passenger cars, behind Japan and South Korea beating Thailand. As of 2010, India is home to 40 million passenger vehicles. More than 3.7 million automotive vehicles were produced in India in 2010 (an increase of 33.9%), making the country the second fastest growing automobile market in the world. According to the Society of Indian Automobile Manufacturers, annual vehicle sales are projected to increase to 5 million by 2015 and more than 9 million by 2020. By 2050, the country is expected to top the world in car volumes with approximately 611 million vehicles on the nation 's roads.
The majority of India 's car manufacturing industry is based around three clusters in the south, west and north. The southern cluster near Chennai is the biggest with 35% of the revenue share. The western hub near Maharashtra is 33% of the market.
The northern cluster is primarily Haryana with 32%.Chennai, is also referred to as the "Detroit of India" with the India operations. of Ford, Hyundai, Renault and Nissan headquartered in the city and BMW having an assembly plant on the outskirts. Chennai accounts for 60% of the country 's automotive exports.
The Indian Automobile Industry manufactures over 11 million vehicles and exports about 1.5 million each year. The dominant products of the industry are two-wheelers with a market share of over 75% and passenger cars with a market share of about 16%. Commercial vehicles and three-wheelers share about 9% of the market between them. About 91% of the vehicles sold are used by households and only about 9% for commercial purposes the industry has a turnover of more than USD $35 billion and provides direct and indirect employment to over 13 million people.
Interestingly, the level of trade exports in this sector in India has been medium and imports have been low. However, this is rapidly changing and both exports and imports are increasing. The demand determinants of the industry are factors like affordability, product innovation, infrastructure and price of fuel. Also, the basis of competition in the sector is high and increasing, and its life cycle stage is growth. With a rapidly growing middle class, all the advantages of this sector in India are yet to be leveraged.
With a high cost of developing production facilities, limited accessibility to new technology, and increasing competition, the barriers to enter the Indian Automotive sector are high. On the other hand, India has a well-developed tax structure. The power to levy taxes and duties is distributed among the three tiers of Government. The cost structure of the industry is fairly traditional, but the profitability of motor vehicle manufacturers has been rising over the past five years. Major players, like Tata Motors and Maruti Suzuki have material cost of about 80% but are recording profits after tax of about 6% to 11%.
The level of technology change in the Motor vehicle Industry has been high but, the rate of change in technology has been medium. Investment in the technology by the producers has been high. However, further investment in new technologies will help the industry be more competitive. Over the past few years, the industry has been volatile. Currently, India 's increasing per capita disposable income which is expected to rise by 106% by 2015 and growth in exports is playing a major role in the rise and competitiveness of the industry.
Tata Motors is leading the commercial vehicle segment with a market share of about 64%.Maruti Suzuki is leading the passenger vehicle segment with a market share of 46%. Hyundai Motor India and Mahindra and Mahindra are focusing expanding their footprint in the overseas market. Hero Moto Corp is occupying over 41% and sharing 26% of the two-wheeler market in India with Bajaj Auto. Bajaj Auto in itself is occupying about 58% of the three-wheeler market.
Both, Industry and Indian Government are obligated to intervene the Indian Automotive industry. The Indian government should facilitate infrastructure creation, create favorable and predictable business environment, attract investment and promote research and development. The role of Industry will primarily be in designing and manufacturing products of world-class quality establishing cost competitiveness and improving productivity in labor and in capital. With a combined effort, the Indian Automotive industry will emerge as the destination of choice in the world for design and manufacturing of automobiles.
SECTION IV-DATA ANALYSIS AND INTERPRETATION
1. Please tick the Hyundai vehicle you have purchased recently
please tick the Hyundai vehicle you have purchased recently | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | santro | 28 | 40.0 | 40.0 | 40.0 | | i10 | 23 | 32.9 | 32.9 | 72.9 | | i20 | 6 | 8.6 | 8.6 | 81.4 | | getz | 9 | 12.9 | 12.9 | 94.3 | | accent | 4 | 5.7 | 5.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
INTERPRETATION:
As stated in the study, 40% buy Santro, 32.9% buy i10, 8.6% buy i20, 12.9% buy Getz and 5.7% buy Accent.
2. Is Hyundai your first vehicle?
2.is hyundai your first vehicle | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 52 | 74.3 | 74.3 | 74.3 | | No | 18 | 25.7 | 25.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
In the above graph, 74.3% people say that Hyundai was their first vehicle and 25.7% people say that Hyundai wasn’t their first vehicle.
3. What is the purpose of buying the car? what is the purpose of buying the car | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Personal | 63 | 90.0 | 90.0 | 90.0 | | Business | 4 | 5.7 | 5.7 | 95.7 | | Company | 3 | 4.3 | 4.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The above graph states that 90% people use their for personal purpose, 5.7% people use it for business purpose and 4.3% people use it for company purpose.
4. Why do you prefer Hyundai vehicle? why do you prefer Hyundai vehicle | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | its design | 48 | 68.6 | 68.6 | 68.6 | | its prices | 6 | 8.6 | 8.6 | 77.1 | | their services | 9 | 12.9 | 12.9 | 90.0 | | Others | 7 | 10.0 | 10.0 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The above diagram represents that 68.6% people prefer Hyundai vehicles due to its design,8.6% prefer Hyundai due to its price affordability, 12.9% people opt Hyundai due the services that are provided by them and 10% prefer it due its fuel efficiency, interiors etc.
5. How was your experience prior to confirming your order for vehicle rating them?
how was your experience prior to confirming your order for vehicle rate them | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 4 | 5.7 | 5.7 | 5.7 | | 9- good | 56 | 80.0 | 80.0 | 85.7 | | 10-excellent | 10 | 14.3 | 14.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graph represents the experience of the customers before booking their vehicle, their satisfaction levels are as follows 5.7% rate their experience as poor,80% rate it as good and14.3% rate them as excellent. 6. How do you rate the dealer facility?
how do you rate the dealer facility | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-9 poor | 4 | 5.7 | 5.7 | 5.7 | | 9-good | 53 | 75.7 | 75.7 | 81.4 | | 10-excellent | 13 | 18.6 | 18.6 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graph explains us the level of satisfaction of the consumers with kun united Hyundai, 5.7% people rate them under poor, 75.7% rate them under good and 18.6% rate them as excellent.
7. How do you rate your sales person and his knowledge about Hyundai and its competitors? how do you rate yor sales person and his knowledge about hyundai and its competitiors | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 16 | 22.9 | 22.9 | 22.9 | | 9- good | 43 | 61.4 | 61.4 | 84.3 | | 10- excellent | 11 | 15.7 | 15.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study explain us that the knowledge of the sales person at kun united Hyundai are good. They are rates as 22.9% rate them as poor, 61.4% rate them as good and 15.7% rate them excellent which is highly appreciable. 8. How did you approach Hyundai? What is the source? how did you approach Hyundai? what is the source? | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | direct walk in | 34 | 48.6 | 48.6 | 48.6 | | tele enquiry | 11 | 15.7 | 15.7 | 64.3 | | television advertising | 15 | 21.4 | 21.4 | 85.7 | | paper advertising | 10 | 14.3 | 14.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study reveals that Hyundai adapts various forms of medium to promote their product.48.6% people directly walk-in to the show room,15.7% are through teleenquiry,21.4% are form T.V advertisement and 14.2% are through paper advertisement.
9. Do your children or spouse influence your decision in buying the car?
do children or spouse influence your decision in buying a car | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 51 | 72.9 | 72.9 | 72.9 | | No | 19 | 27.1 | 27.1 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The figure above represents how family members and children influence in buying a car. People get more influenced with family members and their opinions. The study tells us that 72.9% are influenced by their family members whereas 27.1% are not influenced.
10. Are you satisfied with Hyundai prices? are you satsfied with hyudnai prices | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 64 | 91.4 | 91.4 | 91.4 | | No | 6 | 8.6 | 8.6 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
Price is one the important factor that influences the buyers. the study inferences that the most of the Hyundai customers are satisfied with the prices and they tend to opt the car. Therefore 91.4% people are satisfied whereas 8.6% people are not satisfied.
11. Do you prefer colors in the models you choose? do you perfer colors in the model you choose | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 60 | 85.7 | 85.7 | 85.7 | | No | 10 | 14.3 | 14.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretations:
The study tells us that 85.7% of the people prefer colors in the model they choose whereas 14.3% do not prefer color in the model they choose.
12. Were you satisfied with the post sales follow up by Hyundai? were you stsfied with the post sales fllow up by Hyundai | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 63 | 90.0 | 90.0 | 90.0 | | No | 7 | 10.0 | 10.0 | 100.0 | | Total | 70 | 100.0 | 100.0 | | | | | | | |
Interpretation:
The graph explains us the satisfaction levels of the consumers with the sales follow up by Hyundai.90% of the consumers were satisfied with the follow ups and whereas 10% were not satisfied.
13. What is your rating on timeliness of delivery? what is your rating on timeliness of delivery | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 1 | 1.4 | 1.4 | 1.4 | | 9- good | 56 | 80.0 | 80.0 | 81.4 | | 10- excellent | 13 | 18.6 | 18.6 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study explains us the timeliness of delivery of the car. Timeliness of the delivery is rated as follows 1.4% is rated as poor, 80% is rated as good and 18.6% is rated as excellent.
14. Was your vehicle delivered on time? was your vehicle delivered on time | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | Yes | 65 | 92.9 | 92.9 | 92.9 | | No | 5 | 7.1 | 7.1 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study explains that most of the cars were delivered on time that is 92.9% were delivered on time and 7.1% of the cars were t delivered on time.
15. Were you satisfied with the dealer were you satisfied with the dealer | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | yes | 67 | 95.7 | 95.7 | 95.7 | | no | 3 | 4.3 | 4.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation
The study explains customers were satisfied with the dealer and their facilities. The graph explains that 95.7%customers were satisfied with their services and 4.3% were not satisfied.
16. How do you rate the level of satisfaction with the dealer?
how do you rate the level of satisfaction with the dealership | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 3 | 4.3 | 4.3 | 4.3 | | 9- good | 56 | 80.0 | 80.0 | 84.3 | | 10-excellent | 11 | 15.7 | 15.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The study shows that most of the customers are satisfied with the dealer and their services. It shows that 4.4 % customers rated them as poor, 18% rated them as good and 15.7% rated them as excellent.
17. Do you have reasons to complain to the dealer since the delivery of the car?
do you have reasons to complain to the dealer since the delivery of the car | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | yes | 8 | 11.4 | 11.4 | 11.4 | | no | 62 | 88.6 | 88.6 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graph represents that most of people have no complains with the dealer that is 11.4% have reasons to complain were as 88.6% customers have no reasons to complain.
18. How do you rate the quality of your new Hyundai vehicle?
how do you rate the quality of your new hyundai vehicle | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | 1-8 poor | 1 | 1.4 | 1.4 | 1.4 | | 9- good | 51 | 72.9 | 72.9 | 74.3 | | 10-excellent | 18 | 25.7 | 25.7 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graphs represents most of the customers are satisfied with the quality of their new Hyundai vehicle. The ratings are as follows 1.4% rate them as poor, 72.9% rated them as good and were as 25.7% rated them as excellent.
19. Would you recommend kun Hyundai to your friends or family would you recomend kun hyundai to your friends or family | | Frequency | Percent | Valid Percent | Cumulative Percent | Valid | yes | 67 | 95.7 | 95.7 | 95.7 | | no | 3 | 4.3 | 4.3 | 100.0 | | Total | 70 | 100.0 | 100.0 | |
Interpretation:
The graph represents that customers are satisfied with the Hyundai vehicles so they recommend the vehicle to their friends and family. Customers would recommend and rated them as 95.7% would recommend it and 4.3% would not recommend.
FEEDBACK
Name: Gender:
Age: Occupation:
Annual Income: Date:
* Please tick the Hyundai vehicle you have purchased recently i) santro ii) i10 iii) i20 iv) getz v) Accent vi) verna vii) Tucson viii) sonata
* Is Hyundai your first vehicle i) Yes ii) No
* What is the purpose of buying the car? i) Personal ii) Business iii) Company iv)others
* Why do you prefer Hyundai vehicles? i) Its design ii) Its price iii) Their services iv) Others
* How was your experience with the dealers prior to confirming your order for vehicle rate them? i) 1-8 poor ii) 9-Good iii) 10- excellent
* How do you rate the dealer facility? i) 1-8 Poor ii) 9-Good iii) 10- Excellent
* How do you rate your sales person and his knowledge about Hyundai and its competitors? i) 1-8 Poor ii) 9-Good iii) 10- Excellent
* How did you approach Hyundai? What is the source? i) Direct walk-in ii) Tele enquiry iii)T.V advertising iv) Paper advertising
* Do children or your spouse influence your decision in buying the car? i) Yes ii) No * Are you satisfied with Hyundai prices? i) Yes ii) No
* Do you prefer colors in the model you choose?
i) Yes ii) No
* Were you satisfied with the post sales follow up by Hyundai?
i) Yes ii) No
* What is your rating on timeliness on delivery?
i)1-8 poor 9-good 10-excellent
* Was your vehicle delivered on time?
i)Yes ii)No * Do you have any reasons to complain to the dealer since the time of delivery of the car?
i)Yes ii)No
* Were you satisfied with the dealer?
i)yes ii)No * How do you rate the level of satisfaction with the dealership?
i)1-8poor ii) 9-good iii)10-excellent
* How do you rate the quality of your new Hyundai vehicle?
i)1-8 poor ii)9-good iii)10-excellent
* Would you recommend kun Hyundai to your friends/relatives?
i)Yes ii)No
-------------------------------------------------
Please suggest few improvements in sales process and sales staff for achieving higher levels of customer satisfaction
Thank you
FINDINGS
* Customers are aware of the brand “Hyundai” which markets the products like cars, electronics, machinery etc * Hyundai is more successful in its automobile than any other sector, where santro is sold high in number as compared to other models. * Most of the consumers give preference to Hyundai cars and thus it is the first vehicle they buy. * Consumers purchase car more for their personal use then any other. * Consumers prefer Hyundai vehicles due to its design. Hyundai always gives a trendy and sporty look to the car which many of the customers prefer. * Maximum customers were satisfied with the dealer and their facilities. * Customers were also satisfied with the sales person and their knowledge about the cars and about their competitors. * It is revealed that Hyundai adopts various medium to promote their products, people are aware of Hyundai through media like newspaper, television advertisement etc. * It is noticed that family members do influence the buying decision. * Price is one of the most important factors that affect the buying behavior. More economic the car is more are the units sold. * The study reveals that the cars were delivered on time and maximum people have no complains. * Maximum customers are satisfied with the quality of their new Hyundai vehicle.
CONCLUSION * From the analysis from feedback form it reveals that people from Hyderabad prefer Hyundai vehicles. * Tata, Maruti, Honda etc are few competitors to Hyundai in the market. * Kun United Hyundai is one of the finest dealers of Hyundai in India, they have a good scale of sales every year and they provide a good piece of services to the customers. * Mostly high class persons prefer Hyundai cars for their personal purpose. * Study shows that middle class segment highly influenced by family and friends while purchasing the car.
Bibliography * Philip kotler, marketing management, 12th edition pearson education inc, New Delhi * Schiffman, lean G and kannut lazar;consumer behavior prentice hall off India. * Suja R. Nair: consumer behavior Himalaya publishers.
Websites:
www.hyundai.in www.kununited.com www.santafemods.com
Bibliography: * Philip kotler, marketing management, 12th edition pearson education inc, New Delhi * Schiffman, lean G and kannut lazar;consumer behavior prentice hall off India. * Suja R. Nair: consumer behavior Himalaya publishers. Websites: www.hyundai.in www.kununited.com www.santafemods.com
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