A PROJECT REPORT ON

“Marketing Strategy of TVS WEGO”

In the subject Strategic Management

SUBMITTED TO

UNIVERSITY OF MUMBAI

SEMESTER I

M.COM (ADVANCED ACCOUNTING PART I)

BY

NAME OF STUDENT

(SAMATA L. HEGDE)

ROLL NO (12-7278)

YEAR 2014-15

DECLARATION

I SAMATA LAXMINARAYAN HEGDE Roll No. 14 – 7278, the student of

M.Com (Accountancy) Semester I (2014), K. V. Pendharkar College, Dombivli,

Affiliated to University of Mumbai, hereby declare that the project for the subject

Strategic Management of Project report on “MARKETING

STRATEGY OF TVS WEGO” submitted by me to University of Mumbai, for semester I examination is based on actual work carried by me.

I further state that this work is original and not submitted anywhere else for any examination.

Place: Dombivli

Date:

Signature of the Student (SAMATA L. HEGDE)

(Roll No: - 14 -7278)

ACKNOWLEDGEMENT

It is a pleasure to thank all those who made this project work possible.

I Thank the Almighty God for his blessings in completing this task. The successful completion of this project is possible only due to support and cooperation of my teachers, relatives, friends and well-wishers. I would like to extend my sincere gratitude to all of them.

I am highly indebted to Principal , Coordinator CA.Prasad Limaye, and my subject teacher Dr. Rajeshri Deshpande for their encouragement, guidance and support.

I also take this opportunity to express sense of gratitude to my parents for their support and co-operation in completing this project.

Finally I would express my gratitude to all those who directly and indirectly helped me in completing this project.

Name of the student SAMATA L. HEGDE

INDEX

SR.NO TOPIC PG.NO

1 Chapter I Introduction 4

2 Chapter II Objective 5

3 Chapter III Research Methodology 6

4 Chapter IV Scope And Limitation 7

5 Chapter V Review Of Literature 8

6 Chapter VI Concept 9

7 Chapter VII Profile 20

8 Chapter VIII Data Analysis 26

9 Chapter IX Finding And Suggestions 36

10 Chapter X Conclusion 37

INTRODUCTION

MARKETING STRATEGY

"Marketing is not only much broader than selling; it is not a specialized activity at

all. It encompasses the entire business. It is the whole business seen from the point

of view of its final result, that is, from the customer's point of view." Druker.

Marketing strategy is the goal of increasing sales and achieving a sustainable

competitive advantage. Marketing strategy includes all basic and long-term

activities in the field of marketing that deal with the analysis of the strategic initial

situation of a company and the formulation, evaluation and selection of market-

oriented strategies and therefore contributes to the goals of the company and its

marketing objectives.

Some alternative definitions of the Marketing Concept include:

"Your business will perform better, if you know what people want in the first

place." Anon.

Marketing Strategy is partially planned and partially unplanned. See strategy

dynamics. Marketing strategy needs to take a long term view, and tools such

as customer lifetime value models can be very powerful in helping to simulate the

effects of strategy on acquisition, revenue per customer and churn rate.

OBJECTIVES

The objective of studying marketing strategy and study of the project is to get

knows the marketing strategy of the TVS WEGO product. The aim is also to get

know the customer response regarding the product and whether the customer is

satisfied with the product. The study of project also includes the product awareness

in market and whether it is reaching the customer.

RESEARCH METHODOLOGY

Primary Data

The primary data is the first hand information collected from respondents

with the help of questionnaire, interviews, schedules .In this project a

structured questionnaire is prepared and data of 30 respondents is collected

tabulated and analyzed on percentage basis.

Secondary Data

The secondary data is information collected through publish data various

reference books, journals, magazines, bulletins, weekly and paper published

and articles referred.

SCOPE AND LIMITATION

The primary data is collected from 30 customers of TVS WEGO. The data is

collected with the help of questionnaire. The questionnaire includes 10 questions.

The information provided by respondents is sufficient to prove the accuracy of

study and its data analysis.

REVIEW OF LITERATURE

DEFINITION

The marketing guru Philip Kotler defines the Marketing Concept as:

"The marketing concept holds that the key to achieving organizational goals

consists in determining the needs and wants of target markets and delivering the

desired satisfactions more effectively and efficiently than competitors"

This Kotler breaks down into four components; Market Focus, Customer

Orientation, Coordinated Marketing and, Profitability.

Some alternative definitions of the Marketing Concept include:

"Your business will perform better, if you know what people want in the first

place." Anon.

CONCEPT

Marketing Strategy

Marketing strategy involves careful and precise scanning of the internal

and external environments. Internal environmental factors include the marketing

mix and marketing mix modeling, plus performance analysis and strategic

constraints. External environmental factors include customer analysis, competitor

analysis, target market analysis, as well as evaluation of any elements of the

technological, economic, cultural or political/legal environment likely to impact

success.  A key component of marketing strategy is often to keep marketing in line

with a company's overarching mission statement.

Once a thorough environmental scan is complete, a strategic plan can be

constructed to identify business alternatives, establish challenging goals, determine

the optimal marketing mix to attain these goals, and detail implementation. A final

step in developing a marketing strategy is to create a plan to monitor progress and

a set of contingencies if problems arise in the implementation of the plan.

Marketing Mix Modeling is often used to help determine the optimal

marketing budget and how to allocate across the marketing mix to achieve these

strategic goals. Moreover, such models can help allocate spend across a portfolio

of brands and manage brands to create value.

Developing a marketing strategy

Marketing strategies serve as the fundamental underpinning of markeing plans

designed to fill market needs and reach marketing objectives. Plans and objectives

are generally tested for measurable results. Commonly, marketing strategies are

developed as multi-year plans, with a tactical plan detailing specific actions to be

accomplished in the current year. Time horizons covered by the marketing plan

vary by company, by industry, and by nation, however, time horizons are

becoming shorter as the speed of change in the environment increases. Marketing

strategies are dynamic and interactive. They are partially planned and partially

unplanned. See strategy dynamics. Marketing strategy needs to take a long term

view, and tools such as customer lifetime value models can be very powerful in

helping to simulate the effects of strategy on acquisition, revenue per customer and

churn rate.

Marketing strategy involves careful and precise scanning of the internal and

external environments. Internal environmental factors include the marketing mix

and marketing mix modeling, plus performance analysis and strategic constraints.

External environmental factors include customer analysis, competitor analysis,

target market analysis, as well as evaluation of any elements of the technological,

economic, cultural or political/legal environment likely to impact success. A key

component of marketing strategy is often to keep marketing in line with a

company's overarching mission statement.

Once a thorough environmental scan is complete, a strategic plan can be

constructed to identify business alternatives, establish challenging goals, determine

the optimal marketing mix to attain these goals, and detail implementation. A final

step in developing a marketing strategy is to create a plan to monitor progress and

a set of contingencies if problems arise in the implementation of the plan.

Marketing Mix Modeling is often used to help determine the optimal marketing

budget and how to allocate across the marketing mix to achieve these strategic

goals. Moreover, such models can help allocate spend across a portfolio of brands

and manage brands to create value.

Real-life marketing

Real-life marketing primarily revolves around the application of a great deal of

common-sense; dealing with a limited number of factors, in an environment of

imperfect information and limited resources complicated by uncertainty and tight

timescales. Use of classical marketing techniques, in these circumstances, is

inevitably partial and uneven.

Thus, for example, many new products will emerge from irrational processes and

the rational development process may be used (if at all) to screen out the worst

non-runners. The design of the advertising, and the packaging, will be the output of

the creative minds employed; which management will then screen, often by 'gut-

reaction', to ensure that it is reasonable.

For most of their time, marketing managers use intuition and experience to analyze

and handle the complex, and unique, situations being faced; without easy reference

to theory. This will often be 'flying by the seat of the pants', or 'gut-reaction'; where

the overall strategy, coupled with the knowledge of the customer which has been

absorbed almost by a process of osmosis, will determine the quality of the

marketing employed. This, almost instinctive management, is what is sometimes

called 'coarse marketing'; to distinguish it from the refined, aesthetically pleasing,

form favored by the theorists.

An organization's strategy combines all of its marketing goals into one

comprehensive plan. A good marketing strategy should be drawn from market

research and focus on the right product mix in order to achieve the maximum profit

potential and sustain the business. The marketing strategy is the foundation of a

marketing plan.

Principles of Strategic Marketing

Know thyself and know thy audience. Most small businesses don't create a

marketing plan, often adopting a fly-by-the-seat-of-your-pants mentality or just

copying the marketing efforts of a competitor. This can lead to the decision to stop

spending marketing dollars when the efforts go flat. There are a few simple

questions that a business owner should ask himself to create the basis for strategic

marketing for the business.

(A)Who Are You

Most small businesses may start because of a great idea yet have no clue as to who

they are in the marketplace. Part of your strategy involves defining your business:

Create a mission statement, and find your objective, by addressing important,

foundational questions. What is the point of your product or service? How does it

help consumers or other businesses? What is the goal you are trying to

accomplish? Your answers should be succinct and clear.

(B) Create a Marketing Outline

Your outline -- which should include your mission statement, objective and your

product or service -- serves as a reference for your marketing efforts. It must define

your short- and long-term goals because it's important to understand what you are

trying to achieve in order to appropriately allocate your resources. Determine your

demographics; understand why consumers would choose you and how you're

benefiting them. Finally, do research about the competition and the marketplace to

know your positioning. Once you are clear, you can put a marketing budget

together.

(C) Where Are Your Customers?

Where to market and what tools to use depend on where you find your customers.

Get to know your audience. Is this an Internet-savvy group, or are they more likely

to respond to a postcard, brochure or some other item in the mail? Is it a short-term

or long-term sale? Understanding who you are trying to market to is the key to

your marketing strategy. Just throwing mud on a wall to see if it sticks wastes

precious resources.

(D) Focus Creates Success

Many business owners see the big picture and too often want to serve the whole

seven-course meal before their customers have even tried the first course. Your

marketing strategy needs to think big but focus small. Market the one thing you do

exceptionally well, and focus your budget, your time and where you choose to

spend your marketing dollars wisely. When you have a solid return on investment,

you also should have a solid understanding of what else your clients need. From

there, begin focusing your marketing efforts on the next product or service, and

watch your bottom line grow.

Strategic models

Marketing participants often employ strategic models and tools to analyze

marketing decisions. When beginning a strategic analysis, the 3Cs can be

employed to get a broad understanding of the strategic environment. An Ansoff

Matrix is also often used to convey an organization's strategic positioning of their

marketing mix. The 4Ps can then be utilized to form a marketing plan to pursue a

defined strategy. Marketing Mix Modeling is often used to simulate different

strategic flexing go the 4Ps. Customer lifetime value models can help simulate

long term effects of changing the 4Ps, e.g.; visualize the multi-year impact on

acquisition, churn rate, and profitability of changes to pricing. However, 4Ps have

been expanded to 7 or 8Ps to address the different nature of services.

There are many companies especially those in the Consumer Package Goods

(CPG) market that adopt the theory of running their business centered on

Consumer, Shopper & Retailer needs. Their Marketing departments spend quality

time looking for "Growth Opportunities" in their categories by identifying relevant

insights (both mindsets and behaviors) on their target Consumers, Shoppers and

retail partners. These Growth Opportunities emerge from changes in market trends,

segment dynamics changing and also internal brand or operational business

challenges. The Marketing team can then prioritize these Growth Opportunities

and begin to develop strategies to exploit the opportunities that could include new

or adapted products; services as well as changes to the 7Ps. Marketing participants

often employ strategic models and tools to analyze marketing decisions. When

beginning a strategic analysis, the 3Cs can be employed to get a broad

understanding of the strategic environment. An Ansoff Matrix is also often used to

convey an organization's strategic positioning of their marketing mix. The 4Ps can

then be utilized to form a marketing plan to pursue a defined strategy. Marketing

Mix Modeling is often used to simulate different strategic flexing go the 4Ps.

Customer lifetime value models can help simulate long term effects of changing

the 4Ps, e.g.; visualize the multi-year impact on acquisition, churn rate, and

profitability of changes to pricing. However, 4Ps have been expanded to 7 or 8Ps

to address the different nature of services.

There are many companies especially those in the Consumer Package Goods

(CPG) market that adopt the theory of running their business centered on

Consumer, Shopper & Retailer needs. Their Marketing departments spend quality

time looking for "Growth Opportunities" in their categories by identifying relevant

insights (both mindsets and behaviors) on their target Consumers, Shoppers and

retail partners. These Growth Opportunities emerge from changes in market trends,

segment dynamics changing and also internal brand or operational business

challenges. The Marketing team can then prioritize these Growth Opportunities

and begin to develop strategies to exploit the opportunities that could include new

or adapted products, services as well as changes to the 7Ps.

Types of strategies

Marketing strategies may differ depending on the unique situation of the

individual business. However there are a number of ways of categorizing some

generic strategies. A brief description of the most common categorizing schemes is

presented below:

1. Strategies based on   market dominance  –

In this scheme, firms are classified based on their market share or dominance

of an industry. Typically there are four types of market dominance strategies:

Leader, Challenger, Follower, Nicher.

2. Porter generic strategies –

Strategy on the dimensions of strategic scope and strategic strength. Strategic

scope refers to the market penetration while strategic strength refers to the firm's

sustainable competitive advantage. The generic strategy framework (porter 1984)

comprises two alternatives each with two alternative scopes. These are

Differentiation and low-cost leadership each with a dimension of Focus-broad or

narrow:  

Product differentiation Cost leadership

Market segmentation

3. Innovation strategies –

This deals with the firm's rate of the new product development and business

model innovation. It asks whether the company is on the cutting edge of

technology and business innovation. There are three types:

Pioneers, Close followers, late followers.

4. Growth strategies –

In this scheme we ask the question, "How should the firm grow?” There are

a number of different ways of answering that question, but the most common gives

four answers:

Horizontal integration, Vertical integration, Diversification, Intensification.

These ways of growth are termed as organic growth. Horizontal growth is

whereby a firm grows towards acquiring other businesses that are in the same line

of business for example a clothing retail outlet acquiring a food outlet. The two are

in the retail establishments and their integration lead to expansion. Vertical

integration can be forward or backward. Forward integration is whereby a firm

grows towards its customers for example a food manufacturing firm acquiring a

food outlet. Backward integration is whereby a firm grows towards its source of

supply for example a food outlet acquiring a food manufacturing outlet.

A more detailed scheme uses the categories: Miles, Raymond

(2003). Organizational Strategy, Structure, and Process. Stanford: Stanford

University Press. ISBN 0-8047-4840-3.

5. Marketing warfare strategies  –

This scheme draws parallels between marketing strategies and military

strategies. BCG's "growth-share portfolio matrix" "Based on his work with

experience curves (that also provides the rationale for Porter's low cost leadership

strategy), the growth-share matrix was originally created by Bruce D. Henderson,

CEO of the Boston Consulting Group (BCG) in 1968 (according to BCG history).

Throughout the 1970s, Henderson expanded upon the concept in a series of short

(one to three pages) articles in the BCG newsletter titled Perspectives (Henderson,

1970, 1972, 1973, 1976a, b). Tremendously popular among large multi-product

firms, the BCG portfolio matrix was popularized in the marketing literature by Day

(1977)”.

PROFILE

TVS Motor Company LTD

TVS Motor Company Limited, which is part of TVS Group, manufactures

motorcycles, scooters, mopeds and auto rickshaws in India. The founder of TVS

Motor Company Ltd is T. V Sundaram Iyengar. It was founded in 1978.The CEO

of TVS Motors Company Ltd is Mr. K. N. Radhakrishnan. The MD and Chairman

is Mr. Venu Srinivasan.

History

TVS was established by Thrissur Vengaramaswamy Sundaram Iyengar. He began

with Madurai's first bus service in 1911 and founded T.V.Sundaram Iyengar and

Sons Limited, a company that consolidated its presence in the transportation

business with a large fleet of trucks and buses under the name of Southern

Roadways Limited. When he died in 1955 his sons took the company ahead with

several forays in the automobile sector, including finance, insurance, manufacture

of two-wheelers, tyres and components. The group has managed to run 33

companies that account for a combined turnover of nearly $3 billion.

Sundaram Clayton, then the flagship company, was founded in 1962 in

collaboration with Clayton Dewandre Holdings, United Kingdom. It manufactured

brakes, exhausts, compressors and various other automotive parts. The company

set up a plant at Hosur in 1978 to manufacture mopeds as part of a new division.A

technical collaboration with the Japanese auto giant resulted in the joint-venture

Ind Suzuki Limited in 1982 between Sundaram Clayton Ltd and Suzuki Motor

Corporation. Commercial production of motorcycles began in 1984.

TVS and Suzuki shared a 19 year long relationship that was aimed at technology

transfer to enable design and manufacture of two-wheelers specifically for the

Indian market. Rechristened TVS-Suzuki, the company brought out several models

such as the Suzuki Samurai, Suzuki Shogun and Suzuki Fiero. Differences in

opinion on how to run the joint venture eventually led to the partners going their

separate ways in 2001 with the company being renamed TVS Motor, relinquishing

rights to use the Suzuki name. There was also a 30 month moratorium period

during which Suzuki promised not to enter the Indian market with competing two-

wheelers. The company also got over a period of labour unrest that required

Chairman Venu Srinivasan to take tough measures to resurrect a company that was

in a state of turmoil. He would go on to invest in new technology, nurture in-house

design, and implement Toyota-style quality programs.

Over the years TVS Motor has grown to be the largest in the group, both in terms

of size and turnover, with four state of the art manufacturing plants in Hosur,

Mysore and Nalagarh in India and Karawang in Indonesia. TVS Motor is credited

with many innovations in the Indian automobile industry, notable among them

being the introduction of India's first two-seater moped, the TVS 50cc. The

company became the leader in its category of sub 100 cc mopeds, having sold

7 million units. It also introduced the TVS Scooty, which is India's second largest

brand in the scooterette segment. The TVS Jive launched in November 2009

became India's first clutch-free motorbike aimed at a stress-free rider experience

while the unisex scooter TVS Wego is targeted at urban couples, featuring body-

balance technology for easier handling. On 1 June 2012, TVS Motors reported a

dip of 5% in its total sales for May 2012.In July 2012, TVS Motors and BMW

Motorrad were reported to be in talks for technology sharing. 0n 8 April 2013,

BMW Motorrad and TVS Motor Company signed a cooperation agreement with

the aim to develop and produce motorcycles in the segment below 500cc.

In July 2013, TVS Motor announced plans to construct a motorcycle assembly

plant in Uganda and to introduce two new models suited to the East African

environment. The new plant is expected to become operational in 2014.

Awards

TVS Motor won the Deming Application Prize in 2002.

The same year, the work done for the TVS Victor motorcycle won TVS Motor the

National Award for successful commercialization of indigenous technology from

the Technology Development Board, Ministry of Science & Technology, and India.

In 2004, TVS Scooty Pep won the 'Outstanding Design Excellence Award' from

Business World magazine and the National Institute of Design, Ahmadabad. The

effective implementation of Total Productivity Maintenance practices won TVS

Motor the TPM Excellence Award given by the Japan Institute of Plant

Maintenance in 2008.

TVS Motor has won several management awards, notable among them being the

Emerging Corporate Giant in the Private Sector awarded by The Economic Times

and the Harvard Business School Association of India. Business Today magazine

awarded TVS Motor the Best Managed Company and the Most Investor Friendly

Company awards. Its advertising practices won it the Good Advertising award by

Auto India Best Brand Awards 2009. Company Chairman Venu Srinivasan is a

recipient of several awards for corporate excellence such as the Star of Asia Award

by Bloomberg Business Week and the JRD Tata Corporate Leadership Award. The

University of Warwick, United Kingdom gave him an honorary Doctorate of

Science degree while the Government of India honored him with the Padma Shri,

one of India's highest civilian distinctions.

Innovative implementation of Information Technology has won TVS Motor the

Ace Award for Most Innovative Net Weaver Implementation in 2007 awarded by

technology major SAPAG and the Team Tech 2007 Award of Excellence for

Integrated use of Computer-aided engineering Technologies.

TVS WEGO

TVS Wego is a motor scooter manufactured by TVS Motor Company.It is a unisex

scooter and was launched in India in 2009.

After the releasing several variants of TVS Scoot, the company entered in the

higher end segment of the scooterette market by introducing Wego. The scooter

was advertised with the concept of body balance.

TVS Motor Company has incorporated several improvements in the engine of the

new TVS WEGO making it one of the smoothest performers in its class. The only,

all metal bodied scooter in India, TVS WEGO is an ideal blend of style, stability,

maneuverability, power and mileage," said the company in a press release.

TVS Wego which has a good consumer base in the country is also a recipient of

prestigious India Design Mark (I Mark) by the India Design Council for its stylish

design.

Recently, TVS also launched Star City+, the refreshed version of Star City in India

with a price tag of 44,000 (ex-showroom, Delhi). TVS Star City+, the latest in the₹

Star range is powered by the same 109.7cc single cylinder air-cooled engine,

which can generate a maximum power of 8.18 bhp at 7000 rpm and a peak torque

of 8.1 Nm at 5000 rpm. The engine comes mated to a 4 speed gearbox and the

TVS's latest motorbike claims better fuel efficiency of 83.9 kmpl.

The bike which is pitted against the Bajaj Discover 100M, Mahindra Centuro,

Hero Splendor Pro and Honda Dream Yuga comes with dual tone seat, stainless

steel muffler guard, chrome finished handlebar and shock absorbers besides the

service indicator, power/economy models and electric start and is available in four

colours- Celebrity Scarlet, Oscar Black, Show Stopper Blue and Titanium Grey.

New Wega's Improved Features

Fully digital console

Tubeless tyres

Parking brakes

Stylish new muffler and TVS patented econometer

Twelve-inch alloy wheels

Telescopic front suspension

Gas filled rear shock absorbers

Multi-reflector halogen headlamps

LED tail lamp with optical guides

Engine Specs

110 cc engine,8 bhp power at @ 7500rpm.

DATA ANALYSIS

Q1. Is TVS WEGO your first two- wheeler?

Criteria Respondents PercentageYes 25 83.33No 5 16.67

respondent

yesno

As per the table and the reply from the respondents, it is clear that 83.33 % of the

respondents have bought the product for the first time. It means that the market

strategy adopted by the company is successful in attracting the customer.

Q2.Are you satisfied with the TVS WEGO mileage?

Criteria Respondent PercentageYes 18 60No 12 40

Respondents

YesNo

The company’s TVS WEGO mileage is 62kmph, whereas the survey of 30

respondents clears that only 60% are getting a good mileage whereas 40 % are not

satisfied with it. The product image regarding mileage is very good in the market.

Q3.Are you satisfied with after sales services provided by TVS WEGO?

Criteria Respondent PercentageYes 22 73No 8 27

Respondent

YesNo

As per the questionnaire survey almost all are satisfied with the after sales service

provided by TVS WEGO. It contains free services, regular service; etc .This

clearly indicates that the TVS are providing good services to their customer.

Q4.Will you recommend TVS WEGO to anybody to buy?

Criteria Respondent PercentageYes 20 67No 10 33

Respondents

YesNo

The pie clearly indicates that the 67 % will recommend buying TVS WEGO as

they had a very good experience with the vehicle. The TVS WEGO is said to be

“Scooty Pulsar” as it for both the genders. The remaining 33% recommend trying

any other kind of vehicle to have a good experience and they are of nature trying

new vehicles.

Q5.Which TVS Vehicle would you like to purchase other than WEGO?

Criteria Respondent PercentageStreak 8 27Jupiter 15 50Zust 7 23

Respondents

StreakJupiterZust

The pyramid shows that the majority of TVS vehicle holder will buy Jupiter as it

has attracted market a lot. The Jupiter is giving a tough competition to Honda

Activa and Activa I. The Zust is recently introduced by the TVS so it will slowly

attract the customer. The streak is lighter in weight and hence it’s not much

customer attracted.

Q6.Which other scoot do you find more flexible than TVS WEGO?

Criteria Respondent PercentageActiva I 20 67Honda Dio 6 20Suzuki Access 4 13

Respondent

Activa IHonda DioSuzuki Access

As per the pie in market, Activa I is found to be most flexible vehicle and their

seems very close competition between TVS WEGO and ACTIVA I.As per the

respondents Activa I is also performing very well even if it is used roughly. The

WEGO is famous for its centralized engine in vehicle.

Q7. Is TVS WEGO, an affordable scooty?

Criteria Respondents PercentageYes 15 50No 15 50

Respondent

YesNo

The ex-showroom price of WEGO is Rs.46000/- apt. The pie show exactly neutral

analysis regarding affordability of WEGO. The customer of WEGO holder belongs

to different category and hence the survey shows a very neutral position.

Q8.Does the TVS Service Centre helps you out with all your queries regarding scooty?

Criteria Respondent PercentageYes 17 57No 13 43

Respondent

YesNo

The data shows that many of the respondents are not satisfied with the service

centres of the WEGO. And many of them feel it very costlier than the garage. The

43% are satisfied with the regular servicing of WEGO. It depends on the customer

whether to have a good servicing or the garage part.

Q9.If not TVS, which other company’s scooty you would had buyed?

Criteria Respondent PercentageHonda 18 60Mahindra 5 17Yamaha 7 23

Respondent

HondaMahindraYamaha

The respondent made an opinion that only Honda and TVS are the sound company

for the two-wheelers vehicle who providing a good product and servicing as

compared to another one. And hence, both the companies had captured market a lot

and are making customer satisfaction as their ultimate goal.

Q10. Are you happy with the sales schemes provided to you?

Criteria Respondents PercentageYes 26 87No 4 13

Respondents

YesNo

Almost 87% are satisfied with the sales scheme provided to them. The company

always comes up with the monthly sales scheme and the customer gets attracted to

extra benefit them going to get for long time through it.

FINDINGS AND SUGGESTION

The TVS WEGO is successful in providing a good quality vehicle to

customers. They are also successful in achieving customer satisfaction.

Customers trust the brand TVS for best vehicle. The Company is

providing good quality at affordable price. The product is also

designed in attractive manner.

The company should take actions regarding the complaints

regarding servicing centers of TVS in order to satisfy them.

CONCLUSION

I have studied and analyzed the product TVS WEGO and its marketing strategy

and data analysis of the respondents.

The successful growth of product depends on its marketing strategy, its branding,

and the promotion of product.

The TVS WEGO is successful from all aspects in marketing strategy and achieving

customer satisfaction.