Project File

Project Report On Consumer Perception Towards Hero Bikes

08/09/2019
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CHAPTER-1
INTRODUCTION


INTRODUCTION

Human beings, in general, are multifaceted creatures who often do not seem even to know their own minds. It is rarely easy, and sometimes impossible, to generalize about human behavior. Each individual is a unique product of genetics, environment and experience. Predicting such a strange behavior of people is a difficult and complex task, filled with worries, risks, and surprises. Accurate predictions can yield vast fortunes and inaccurate predictions can result in the loss of millions of rupees. Today, business around the world recognizes that „the CONSUMER is the king. Knowing why and how people CONSUMER products helps marketers to understand how to improve existing products, what types of products are needed in the market place, or how to attract Consumer to buy their products. Marketers can rationalize their existence only when they are able to understand CUSTOMER’s wants and satisfy them. The modern marketing concept for successful management of a firm requires marketers to consider the CONSUMER as the focal point of their business activity. Although it is important for the firm to understand the buyer and accordingly evolve its marketing strategy, the buyer or CONSUMER continues to be a mystery – sometimes respond in the way the marketer wants and on other occasions just refusing to buy the product from the same marketer. For this reason, the buyer’s mind has been termed as a black box, which should be opened by the seller to be a successful marketer. The study of CONSUMER behavior also includes an analysis of factors that influence purchase decisions and product use. Understanding how Consumer make purchase decisions can help marketing managers in several ways. For example, if a manager knows through research that fuel mileage is the most important attribute for a certain target market, the manufacturer can redesign the product to meet that criterion. If the firm cannot change the design in the short run, it can use promotion in an effort to change CUSTOMER’s decision making criteria. For example, an automobile manufacturer can advertise a car’s maintenance-free feature while downplaying fuel mileage.

With the growth in auto industry Consumer are getting innumerable options to choose from in almost every segment of the Indian auto industry. The high degree of rivalry in the industry with the launch of new product almost in each month and routine new entry of foreign players has made the market

Well as to grow the business, the insight into CONSUMER psyche to understand their need and satisfaction level is of utmost importance for the manufacturer of automobiles. The paper attempts to study the needs and requirements of the Consumer towards purchasing new cars and their perception towards current products. For manufacturers, the pursuit of right product features is essential for being competitive as well as exploring new business opportunities.

Since the rise of experimental psychology in the 19th Century psychology’s understanding of perception has progressed by combining a variety of techniques. Psychophysics quantitatively describes the relationships between the physical qualities of sensory input and perception. Sensory neuroscience studies the brain mechanisms underlying perception Perceptual systems can also be studied computationally in terms of the information they process. Perceptual issues in philosophy include the extent to which sensory qualities such as sound smell or color exist in off the perceiver

CONSUMER

It is being hard to please the present day Consumer. The market conscious society turned smarter and more priced conscious and in turn more demanding and less forgiving. They checkout the competitors with similar or at times even better offers. So the challenge is not to produce for Consumer, any firm could do it. The real challenge is to produce delighted Consumer and more importantly loyal Consumer.

Consumer are the king and without satisfying their needs none can exist in the corporate competitive world. Consumer perception is a marketing concept that encompasses a customer’s impression, awareness and/or consciousness about a company on its offerings. Consumer perception is typically affected by advertising, reviews, public relation, social media, personal experience and other channels.

Perception

Perception is actually more important than reality in many cases. In the world of business, particularly marketing and advertising, perception is reality. Marketers spend great sums of money to alter customer’s perception of their product. Their goal is for Consumer to believe their advertising to be real and ultimately entice Consumer to purchase the product, perceiving that it is right for them. In the active area of delivering superior Consumer service, perception of an issue by the Consumer is often a very different matter than the actual circumstances might describe.

The professional Consumer service specialist must actively listen in order to intelligently discern what the Consumer is actually saying, regardless of want the facts of the matter are. Often, a tense situation can be diffused by simply being sensitive to the Consumer viewpoint and perception of the issues, and then suggesting solutions based upon those perceptions. Insensitivity and indifference will father flame of Consumer anger and possibly lead to a lost Consumer.

DEFINITION

In CONSUMER behavior, however, perception refers to much more than just the biological use of our sense organs. It includes the way stimuli are interacted and integrated by the CONSUMER

The perception process is also complicated due to the possibility that individuals may be stimulated below their level of conscious awareness (known as subliminal perception), i.e. they can perceive stimuli without being consciously aware of the stimuli in question.

CONSUMER PERCEIVED VALUE

Consumer perceived value is thus based on the difference between what the Consumer gets and what he (or) she gives for different possible Choices. It include total Consumer value and total Consumer cost. Total Consumer value is the perceived monetary value of the bundle of economic, functional and psychological benefits Consumer expect from a given market offering. Total Consumer cost is the bundle of costs Consumer expect to incur in evaluating, obtaining, using and disposing of the given market offering including monetary, time energy and psychic cost.

TOP MOTORCYCLE COMPANIES IN INDIA 2016

1. HERO MOTOCORP
Hero motocorp previously known as hero Honda is the top most trusted brand in India. Hero motocorp has a big range of bikes and scooters in India. It has launched some great quality Scooters too in India. Hero motocorp is the leading two wheelers manufacturer in India.

2. BAJAJ
Bajaj is one of the most famous two wheeler’s brand in India. The reason you are seeing it on the second position of this list because people trust and buy Bajaj vehicles because off the great mileage they offer. Some of the most popular bikes from Bajaj are Bajaj pulsar. Bajaj platina and Bajaj discover.

3. YAMAHA
Yamaha focus on two wheeler that gives us a look and feel of sports bikes. The main point that favors Yamaha is its stylish bikes which are the most loved among youngsters. Yamaha has launched some really cool bikes in recent days and it has always focused on vintage bike.

4. TVS
If you are from India then you must be aware with the TVs brand. Popular among the budget buyers as it launches budget bikes or semi –budget bikes which possess great power. TVS has launched some really cool scooters that have become a hit in no time.

5. HONDA
Honda motorcycle is very famous in India as it India as it offers quality vehicles. We have seen some successful models like the active scooter and the most popular one the Honda shine 125cc motorcycle. Couple of year back HMSI has registered a record number of sales.

6. MAHINDRA
This list won’t look complete without the automobile giant Mahindra. Mahindra also works on design and manufactures of 4 wheel vehicles. Mahindra two wheeler segments have gained huge popularity in India as we have witnessed some brilliant offerings from Mahindra. It’s one of the top distributers of two wheeler vehicles in India.

7. ROYAL ENFIELD
Royal Enfield commonly known as bullet is one the most loved bikes in India .the bullet mark is there from a very old time. Even the latest and classic range is also known as bullet. if you love vintage and heavy bikes then you can’t ignore the royal Enfield at all. Its next category is the thunderbird category which is a cruise style motor cycle.

8. SUZUKI
Suzuki motorcycle is not an Indian brand as it is a unit of Suzuki motor corporation Japan. They have installed a plant locally in India that is situated in gurgaon (Haryana). In recent times we have seen some great offerings from the Japanese manufacturer such as Suzuki Hayate and the incredible Suzuki Hayabusa.

CHAPTER-2OBJECTIVES

OBJECTIVES OF THE STUDY

Everybody in this universe is a CONSUMER. We need a variety of goods and services right from our birth to death. Then who are the CONSUMER and how they behave while purchasing a particular product is very important for marketers. Two-wheelers market is a buyers’ market with numerous of brands as well as a number of product differentiations in terms of models in each brand. Hence an attempt has been made in this study to examine the CONSUMER preference towards two wheelers. The objectives of the study areas follow:

· To determine the Consumer perception towards hero two wheelers
• To study about the CONSUMER preference towards Hero in general.
• To find the awareness level of the CONSUMER regarding the Hero

Brands that is available in the market.
• To know the important factors influencing the purchase decision of buyers.
• To analyze the relationship between the brand preference with reference to demographic factors.
• To rank all the brands in Hero Motors and to know the level of satisfaction of Consumer
• To offer valid suggestion for the improvement of the product

CHAPTER -3COMPANY

PROFILE

Company performance
The company has sold over 47 million 2-wheelers since its inception in 1984 till March 2013 It sold 6.07 million 2-wheelers in 2012, out of which 5.5 million were motorcycles. Hero motorcar sells more two wheelers than the second, third and fourth placed two-wheeler companies put together. Its most popular bike Hero Honda Splendor sells more than one million units per year

In 2013, Hero Motorcar registered best ever calendar year performance of more than 6.1 million unit sales. By selling 625,000 units in the month of October, it became the first-ever manufacturer to cross landmark 6 lakh unit sales in a month. In the last quarter of the year or say in the festive season, the company sold more than 1.6 million units, while in non festive time in April–May 2013, it managed to sell out quite good numbers of units—1.1 million.

General Introduction

Motorcycle is also called motorbike is a two or three wheeled vehicle powered by a petrol, diesel, engine mounted midway between the front and rear wheels. The motorcycle, which is having much heavier and stronger, frame than that of a bicycle. The motorcycle corresponding nominal rating of 0.5 hp to 18 hp. The smallest class le is developed from the bicycle. The people for their convenient and smooth travel for the recreation and sports purpose use the motorcycles. The motorbikes are used throughout the world, the police and the fire department use motorcycles to carry medical personnel to accident scenes. Before the 20yrs ago a motorcycle was carried for the noise, dirt and frequent breakdown which the use of its entailed. It was then truly a sportsman’s machine and of little use in the commercial field.

History of Hero Honda:
Guilder Dajnler a German Engineer invented the first real motorcycle in 1885. He attached a four stoke piston engine to a wooden bicycle frame. For the next few year motorcycle remained larger experimental. During the early 1900‟s with continual improvement they developed into useful vehicles. Today motorcycles have the same general appearance as easier models. But modern bike are earlier to handle and they have storage frames, more power engine are more efficient.

During 1960‟s the Japanese Honda Company began to enter the Consumer markets with 50cc four stroke machines. This was followed by Suzuki’s producing two strokes, Motorcycles of today are having comfortable machine and the machines of today bikes are produced with the most advanced and sophisticated technology. Japanese have dominated the world market in two wheeler fields coming out with innumerable models.

The legend of Hero Honda was started out a joint venture between Hero Group, the world’s largest bicycle manufactures & the Honda Motor Company of Japan is today the manufacture of India’s largest selling motorcycles coming into existence on January 19th 1984. Hero Honda Motors ltd., gave India nothing less than a revolution on two wheelers made ever more famous by the “Fill it – Shut it – Forget it” company driven by the trust of over 30 lakhs Consumer. The Hero Honda product range today commands as much as 47% making it a veritable giant in the Industry. Add to the technological excellence, an expansive dealer network & reliable after Sales-Service & it is one of the Consumer friendly company. This is proved by the company’s sales over the years;

1985-86 43,000 units
1989-90 96,200 units
1992-99 5, 30,600 units
1999-2000 7, 61,210 units.

In fact, every second bike sold in India today is a Hero Honda, in the world Mr. Brijmohan-laal-munjal, the Chairman & Managing director, “we will continues to make every effort required for the development, of the motor cycle industry, through new product development. Technological innovation, investment in equipment & facilities and through efficient management”.

Background of Motorcycle in India:
changed. A buyer who wishes to buy a two-wheeler just has to enter. India is the second largest manufacture of two wheelers in the world. It stands next to Japan and China in terms of the number of two wheelers produced and domestic sales respectively.

The motorcycle being produced in India before the advent of the new breed of 100cc vehicle was technologically more than two decades old. They adopted absolute technology and were outdated when compared to their other counterparts. The technological gap was due to efficient research and development department and strict government policy on import of technology. So, people went in for scooter and mopeds for their requirement. Enfield, Yazd and Rajdoot were the only breed existed before these motorcycles were very few in number compared to other two wheelers on road.

The Industry had a smooth ride in the 50‟s, 60‟s and 70‟s when the government prohibited new entries and strictly controlled capacity expansion. The industry saw a sudden growth in the 80‟s. the industry witnessed a steady growth of 14% leading to a peak volume of 1.9 mm vehicles because of advanced technology has given Indian CONSUMER to choose from verity of models and bridge the gap that existed before few years back people had to wait for long period to get their two wheelers after selecting it. This kind of waiting dominated the two wheeler industry. Now, very thing has

Mission of Hero Honda Motors Ltd.,:
The Mission Statement of Hero Honda Motors Ltd., is to strive for synergy between Technology system & Human resources & to produces & services that meet the quality performance & price aspirations of our Consumer. There by maintaining the highest standard & of ethics & societal responsibilities, constantly innovate products & processes & develop teams that keep the movement going to take the company to excellence in the millennium. Hero Honda began operations with the establishment of the Dharuhera plant in 1985, covering a total area of over 58,000 sq, mts., this fully automated plant is equipped with state-of-the art machinery, & in-house R&D setup, & today it produces a bike every 30 seconds.

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