Project Report

On“Consumer Buying Behavior

In Automobile Industry”

Submitted To:“ASIAN College, Patiala

Punjabi University, Patiala.”

In Partial Fulfillment of the Requirement for the degree of

BBA(2013-2014)

Submitted To: Submitted By:Prof. Varinder Singh

Declaration

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I hereby declare that the project entitled “Consumer Buying Behaviour in Automobiles Industry” is a record of independent research work carried out by meduring the academic year 2013-2014 under the able guidance of my Project guide Prof.

I hereby declare the material provided in this report is original and has not been Submitted anywhere for any other diploma or degree.

The project report is the result of my own hard work and self belief.

Place: Patiala.

Preface

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The automobile industry is not going anywhere soon. As the trends in the automotive industry continue, there exists both old and new opportunities available for those interested in franchising to get involved. Car maintenance, repairs, and body services are regularly going to be in demand regardless of whether people prefer to buy new cars or keep their old ones.

The green movement has hit the automotive industry as all car manufacturers are focusing their attention on producing more environmentally friendly and fuel efficient vehicles. As this infant market matures, there will be a demand for services from businesses that understands how to cater to these specific types of vehicles.

For potential business owners who have an interest in the automotive industry, partaking in an automotive franchise provides a good opportunity for everyone.

Acknowledgement

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There is always asense of gratitude which we express for their services:

First of all I think the almighty God who is obviously the supreme power which guided me to step on the right path of life.

I wish to express my sincere sense of gratitude to Prof. Jasleen Kaur for permitting me to complete my major project report in an esteemed organisation. I wish to express my sincere sense of grartitude to my project guide Prof. Sapna for her undaunted guidance and Constant encouragement at all the stages of my project I carried out under her.

Last but not the least, I express my sincere gratitude to my family members who have been taken great pains to enables us to reach up to this status of life.

BBA 3rd semester

Punjabi University off campus

Asian College

Patiala.

Contents

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Serial No. Title Page No.

1. Introduction Introduction to BGPL Introduction to Volkswagen Consumer Behavior Automobiles Industries Overview of Study Industry Size Indian Automobile Industry Domestic and Foreign Vehicle

Manufacturers: Need Of the Study Scope of the Study Significance of the Study

7-910-1314-2122-2425-26

2626

27-2930-31

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2. Review of Literature 34-393. Research mythology

Limitations40-4647-48

4. Data Interpretation and Data analysis

49-63

5. Suggestions 646. Conclusions 65-667. Bibliography 678. Annexure 68-70

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Questionnaire

Introduction

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Bhagat Group Private Limited.

Commencing its corporate voyage in 1932, the Bhagat Group was founded by Late Sardar Bhagat Singh. Its first venture was a petrol station for Caltex in Patiala under the name of Bhagat Singh Motor Company. This still operates under the same name as a retail outlet for Hindustan Petroleum Company. An ISO 9000 certified outlet, it is one of the largest retailers of petroleum products in the region. The Bhagat Group today comprises five companies: Bhagat Singh Motor Company, Bhagat Ford, Bhagat Volvo, Bhagat Volkswagen and Bhagat Nissan and newly introduced Bhagat Mercedes. It is spread across thirteen locations and operates eighteen dealership outlets.

Bhagat Ford commenced operations for the Sales and Service of the Ford range of cars at Ludhiana in 1997 as the exclusive dealer for Ford India in Punjab. This was followed by another dealership at Jalandhar in December 1999. Then, in quick succession came Ford dealerships at Amritsar in 2000, Bhatinda in 2001 and Patiala and Chandigarh in 2003, Dehradun in 2005, followed up by Sangrur in 2009 & Pathankot in 2010. So wherever you may be in Punjab, there is always a Bhagat Ford never more than 100kms away from you!

One of the largest dealerships for Ford cars in India, Bhagat Ford has been rated with among the Best Scores for Customer Satisfaction in both Sales and Service. It was the first Ford dealerships in North India to be certified for the Blue Oval Quality Care systems in Service,and has three Quality Care Certified dealerships, and was awarded the coveted Presidents Award for 2004 for being the best dealership in the country.

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Backed by workshops outfitted with world-class equipment as per HMIL standards and a highly-skilled workforce, Bhagat Ford ensures the possible best services to its customers. Little wonder that it can boast of the Highest Customer Satisfaction Rating in both sales and service in the region.

In 2010 another feather to cap was added, by opening Volkswagen Patiala. With the promise of "Volkswagen quality built in India", the Volkswagen group distributes locally manufactured and imported vehicles in India, reflecting the trademark excellence of German engineering. We are proud to be associated with the company. With Volkswagen Patiala two more dealerships were opened in 2011 and 2012 of Volkswagen Amritsar & Volkswagen Bathinda , Moga, NawaShehar, Punchkula, and Bhagat Mercedes Mohali respectively.

Besides sales and service of Ford, Volkswagen, Volvo, nissan cars, the Group provides services like Finance for new and used cars through tie-ups with various financial institutions, and Insurance for cars at all its locations. The Group also Deals in quality Pre-Owned Cars making it easier for the customers to buy and sell used cars.

The diverse locations spread across Punjab gives the Group a wide operational base and the ability to cover the whole state. And this is supported by a Round-the-Clock Emergency Breakdown Service right across Punjab. All locations are backed by highly professional and trained sales and service teams equipped as per stringent quality standards laid down by Ford, Volkswagen, Volvo, Mercedes .

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The wind beneath the wings of the Bhagat Group is a synergistic blend of professional and progressive management, a highly-skilled and motivated team of 900 employees, state-of-the-art and robust infrastructure, and well-defined and closely monitored processes. The Group's brand equity today with customers, business partners and associates stands rock solid on a proven heritage of excellent customer service, unrelenting commitment to quality, and highly honourable business values and ethics.

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Introduction to Volkswagen

Volkswagen (VW); German pronunciation is a German automobile manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Volkswagen is the original and top-selling marquee of the Volkswagen Group, the biggest German automaker and the second largest automaker in the world.

Volkswagen has three cars in the top 10 list of best-selling cars of all time compiled by the website 24/7 Wall St: the Volkswagen Golf, the Volkswagen Beetle, and the Volkswagen Passat. With these three cars, Volkswagen has the most cars of any automobile manufacturer in the list that is still being manufactured. Volkswagen ranks first in spending the most money of any automaker on research and development as of 2011.

Volkswagen means "people's car" in German. Its current slogan is Das Auto ("The Car").

Operations

Volkswagen has become a large international corporation from where it started and expanded to different worldwide markets and countries. The world headquarters of Volkswagen are located in its home country in Wolfsburg, Germany. Volkswagen AG, owned by the Volkswagen Group, is situated with other car manufacturers including Audi, SEAT, Lamborghini, Bentley, Bugatti, Scania, and Skoda. Volkswagen is currently Europe's largest automaker. For a long time, Volkswagen has had a market share over 20 percent. In 2010, Volkswagen posted record sales of 6.29 million vehicles, with its global market share at 11.4%. Volkswagen's core markets include Germany and China. In 2008, Volkswagen became the third largest automaker in the world. As of 2012, Volkswagen is the second largest manufacturer worldwide. Volkswagen has aimed to double its US market

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share from 2% to 4% for the year 2014, and is aiming to become, sustainably, the world's largest car maker by 2018.

Worldwide presence

Volkswagen has factories in many parts of the world, manufacturing or assembling vehicles for local markets. Volkswagen has manufacturing or assembly plants in Germany, Mexico, Slovakia, China, India, Indonesia, Russia, Malaysia, Brazil, Argentina, Portugal, Spain, Poland, Czech Republic, Bosnia and Herzegovina, and South Africa. Volkswagen also has a new plant in Chattanooga, Tennessee, United States. In 2011, Volkswagen was named in the top 25 largest companies in the world by the Forbes Global 2000.

Volkswagen is setting up a new factory in West Java, Indonesia, which will be ready with production in mid-2013, The investment is valued to $140 million into the new plant. The production will include transporters and multivans.

Brands Under Volkswagen

Volkswagen consist 11 Brands:

Volkswagen AUDI SEAT Skoda Bentley Bugaatti Lamborghini Scania Porsche Mann Bikes VW Commercial Vehicles

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Mann Trucks Ducati

Vision & Values

Volkswagen is not an entry level car manufacturer. They can Modify their Product for the local country that they are selling their product to.

Their main aim is tp produce the product that is the “Best In Class”. They Believe in Luxury Cars.

Rewards & Recognition

Volkswagen has won CNBC overdrive Volkswagen Polo and Business Standard Motoring award for the Polo.

Polo Won Subros Car India Award NDTV Car & Bike Award Zigwheels Award. Vento Won The BBC Top Gear Award Subros Car Award of 2011, Zigwheels Award 2011. Volkswagen comes under the Car & Driver 10 best lists 2014 Wins for Jetta TDI Clean Diesel 2013 J.D Power APEAL Award 2013 for Passat.

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International Operations

Volkswagen has setup its global research and development Operations in India which make vehicles Worlds wide .

Future Plans

-Plans to make Engines in India

-Manufactures A range of small Cars in India.

-It will Invest Rs 2400 Crore in India and Expected plant in chakan (Pune) in Maharashtra that will Produce 101 lakh units of cars initially.

-Volkswagen wants to increase its sales in India to 1 Million cars by 2018.

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Consumer Behavior

Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.[1] It blends elements from psychology, sociology, social anthropology, marketing and economics. It attempts to understand the decision-making processes of buyers, both individually and in groups such as how emotions affect buying behavior. 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.

“Definition of Buying Behavior:”

Buying Behavior is the decision processes and acts of people involved in buying and using products.

Need to understand:

why consumers make the purchases that they make? what factors influence consumer purchases? the changing factors in our society.

Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for:

Buyer’s reactions to a firms marketing strategy has a great impact on the firm’s success.

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The marketing concept stresses that a firm should create a Marketing Mix (MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy.

Marketers can better predict how consumers will respond to marketing strategies.

Stages of the Consumer Buying Process

Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not always include all 6 stages, determined by the degree of complexity...discussed next.

The 6 stages are:

1. Problem Recognition(awareness of need)--difference between the desired state and the actual condition. Deficit in assortment of products. Hunger--Food. Hunger stimulates your need to eat.Can be stimulated by the marketer through product information--did not know you were deficient? I.E., see a commercial for a new pair of shoes, stimulates your recognition that you need a new pair of shoes.

2. Information search-- o Internal search, memory. o External search if you need more information. Friends and

relatives (word of mouth). Marketer dominated sources; comparison shopping; public sources etc.

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3. Evaluation of Alternatives--need to establish criteria for evaluation, features the buyer wants or does not want. Rank/weight alternatives or resume search. May decide that you want to eat something spicy, indian gets highest rank etc.If not satisfied with your choice then return to the search phase. Can you think of another restaurant? Look in the yellow pages etc. Information from different sources may be treated differently. Marketers try to influence by "framing" alternatives.

4. Purchase decision--Choose buying alternative, includes product, package, store, method of purchase etc.

5. Purchase--May differ from decision, time lapse between 4 & 5, product availability.

6. Post-Purchase Evaluation--outcome: Satisfaction or Dissatisfaction. Cognitive Dissonance, have you made the right decision. This can be reduced by warranties, after sales communication etc.

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Types of Consumer Buying Behavior

Types of consumer buying behavior are determined by:

Level of Involvement in purchase decision. Importance and intensity of interest in a product in a particular situation.

Buyers level of involvement determines why he/she is motivated to seek information about a certain products and brands but virtually ignores others.

High involvement purchases--Honda Motorbike, high priced goods, products visible to others, and the higher the risk the higher the involvement. Types of risk:

Personal risk Social risk Economic risk

The four type of consumer buying behavior are:

Routine Response/Programmed Behavior--buying low involvement frequently purchased low cost items; need very little search and decision effort; purchased almost automatically. Examples include soft drinks, snack foods, milk etc.

Limited Decision Making--buying product occasionally. When you need to obtain information about unfamiliar brand in a familiar product category, perhaps. Requires a moderate amount of time for

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information gathering. Examples include Clothes--know product class but not the brand.

Extensive Decision Making/Complex high involvement, unfamiliar, expensive and/or infrequently bought products. High degree of economic/performance/psychological risk. Examples include cars, homes, computers, education. Spend alot of time seeking information and deciding.Information from the companies MM; friends and relatives, store personnel etc. Go through all six stages of the buying process.

Impulse buying, no conscious planning.

Categories that Effect the Consumer Buying Decision Process

A consumer, making a purchase decision will be affected by the following three factors:

1. Personal 2. Psychological 3. Social

The marketer must be aware of these factors in order to develop an appropriate MM for its target market.

Personal-- Unique to a particular person. Demographic Factors. Sex, Race, Age etc. Who in the family is responsible for the decision

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making?Young people purchase things for different reasons than older people.

Psychological factors-- Psychological factors include:

Motives-- A motive is an internal energizing force that orients a person's activities toward satisfying a need or achieving a goal.Actions are effected by a set of motives, not just one. If marketers can identify motives then they can better develop a marketing mix.MASLOW hierarchy of needs!!

o Physiological o Safety o Love and Belonging o Esteem o Self Actualization

Need to determine what level of the hierarchy the consumers are at to determine what motivates their purchases.

Perception — Perception is the process of selecting, organizing and interpreting information inputs to produce meaning. IE we chose what info we pay attention to, organize it and interpret it.Information inputs are the sensations received through sight, taste, hearing, smell and touch.

Selective Exposure - select inputs to be exposed to our awareness. More likely if it is linked to an event, satisfies current needs, intensity of input changes (sharp price drop).

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Select Distortion- - Changing/twisting current received information, inconsistent with beliefs.

Ability and Knowledge-- Need to understand individuals capacity to learn. Learning, changes in a person's behavior caused by information and experience. Therefore to change consumers' behavior about your product, need to give them new information re: product...free sample etc.

Attitudes-- Knowledge and positive and negative feelings about an object or activity-maybe tangible or intangible, living or non- living.....Drive perceptions Individual learns attitudes through experience and interaction with other people. Consumer attitudes toward a firm and its products greatly influence the success or failure of the firm's marketing strategy.

Personality-- all the internal traits and behaviors that make a person unique, uniqueness arrives from a person's heredity and personal experience. Examples include:

Workaholism , Compulsiveness, Self confidence, Friendliness, Adaptability, Ambitiousness , Dogmatism, Authoritarianism, Introversion, Extroversion, Aggressiveness, Competitiveness.

Social Factors

Consumer wants, learning, motives etc. are influenced by opinion leaders, person's family, reference groups, social class and culture.

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Opinion leaders--Spokespeople etc. Marketers try to attract opinion leaders...they actually use (pay) spokespeople to market their products.

Roles and Family Influences-- Role...things you should do based on the expectations of you from your position within a group.People have many roles.Husband, father, employer/ee. Individuals role are continuing to change therefore marketers must continue to update information.

Reference Groups-- Individual identifies with the group to the extent that he takes on many of the values, attitudes or behaviors of the group members.Families, friends, sororities, civic and professional organizations. Any group that has a positive or negative influence on a persons attitude and behavior.

Social Class-- an open group of individuals who have similar social rank. US is not a classless society. US criteria; occupation, education, income, wealth, race, ethnic groups and possessions.

Cultural and sub-Cultural-- Culture refers to the set of values, ideas, and attitudes that are accepted by a homogenous group of people and transmitted to the next generation.Culture also determines what is acceptable with product advertising. Culture determines what people wear, eat, reside and travel. Cultural values in the US are good health, education, individualism and freedom. In american culture time scarcity is a growing problem. IE change in meals. Big impact on international marketing.

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Automobiles Industries

The automobile industry today is the most lucrative industry. Due to the increase in disposable income in both rural and urban sector and easy finance being provided by all the financial institutes, the passenger car sales have increased at the rate of 38% per annum in June 2005-06 over the corresponding period in the pervious year. Further competition is heating up in the sector with a host of new players coming in and other like Porsche, Bentley, Audi, Volkswagen and BMW all set to venture in the Indian markets. One factor that could help the companies in the marketing of their product is by knowing and creating a personality for theirbrands.

This report attempts to answer some of the questions regarding brandpersonality of selected cars in India by conducting the market research. Thisreport is categorized into parts, deals with introduction to brand personality,companies selected, product and the industry.

The automobile industry today is the most lucrative industry. Due to the increase in disposable income in both rural and urban sector and easy finance being provided by all the financial institutes, the passenger car sales have increased at the rate of 25% per annum in June 2005-06 over the corresponding period in the previous year. Further competition is heating up

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in the sector with a host of new players coming in and others like Porches, Bentley, Audi, Volkswagen and BMW all set to venture in Indian markets. One factor that could help the companies in the marketing of their products is buying Behavior of the consumers. The Buying Behavior of the customers can be studied by knowing their perceptions about the cars in the market and about the possible entrants in the market. One such technique is by knowing and creating a personality for the brands.It is true fact that if you are satisfied you recommended to others. Word of mouth and customer satisfaction play a very important role in determining market perception about an automobile. It is the market perception that determines the success of a company and so it is very important for the car manufacturers to measure the “willingness of existing users of a product to recommend it to others”. The same is a lot of interest to customers as well for it helps them make the purchase decision.

A car is one of the most significant purchases that an Indian household makesand this project addresses the most important question that perplexes carmanufacturers:

“What makes the perfect car that influence will willfully purchase?”

The project highlights the factors that influence the buying decision of aconsumer.

The factor under consideration would be:

Price Income of the consumer Features in the car

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Safety standard Warranty scheme Finance facility.

Is an Indian consumer ready for more? Which is the driving motive behind theeffective demand of the car? How the coming of new models like swift does isgoing to effect the buying decision of consumer and especially the Tata 1 lakhcar.

In other words, from the spread of choices offered by various manufacturersunder various segments, of which one the customer will finally turn the ignition on and drive.

Customer satisfaction index: some of the most advance thinking in the businessworld recognizes that customer relationships are best treated as assets, and that methodical analysis of these relationships can provide a road map for improving them

Customer expectations are the customer-defined attributes of your product orservice. We cannot create satisfaction just by meeting customer’s requirementsfully because these have to be met in any case. However falling short is certainto create dissatisfaction.

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Major attributes of customer satisfaction can be summarized as:

Product quality Product packaging Keeping delivery commitments Price Responsiveness and ability to resolve complaints and reject reports Overall communication, accessibility and attitudes.

OVERVIEW OF THE AUTO SEGMENT

Indians have emerged as avid car enthusiasts sporting their prized possessionsas status symbols and speed machines. Foreign car companies have discoveredthe Indian consumer as well as the R & D potential in the Indian technical Fraternity and are setting up manufacturing plants right and left across the country at lower costs. The Indian automobile industry is currently experiencing an unprecedented boom in demand for all types of vehicles. This boom has been triggered primarily by two factors:

(1) increase in disposable incomes and standards of living of middle class Indian families estimated to be as many as four million in number; and

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(2) The Indian government's liberalization measures such as relaxation of the foreign exchange and equity regulations, reduction of tariffs on imports, andbanking liberalization that has fueled financing-driven purchases.

Industry observers predict that passenger vehicle sales will triple in five years to about one million, and as the market grows and customer's purchasing abilities rise, there will be greater demand for higher-end models which currently constitute only a tiny fraction of the market. These trends have encouraged many multinational automakers from Japan, U. S. A., and Europe to enter the Indian market mainly through joint ventures with Indian firms.

India is increasingly becoming a global automotive hub both for the vehicles and component industry. India is fast integrating itself into the world economy and open to international automotive companies, who are increasingly investing in India.

Industry Size

The domestic Indian passenger car market (including utility vehicles) totaled 900,000 units (with a CAGR of 10 per cent over the past 4 years) while the exports were 130,000 million units (with a registered CAGR of 68 per cent over the past 4 years) during financial year 2004.

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The Indian two-wheeler Industry is one of the largest in the world, and is expected to maintain robust growth in the future

At the back of this phenomenal automotive growth is the success of the Indian auto component industry. Presently a US$ 6.7 billion industry, it is expected to almost treble in less than eight years time to US$ 17 billion by2012.

India offers a distinct technological and cost-competitive advantage, which global Original Equipment Manufacturers (OEMs) and automotive suppliers are leveraging for both manufacturing and research facilities. The passenger car market is projected to grow at a CAGR of 12.3 per cent over the next few years. Growth in the mid-size and premium car segments is expected to outpace the overall market growth.

Indian Automobile Industry

Automobile Industry in India is still in its infancy but growing rapidly. The opportunities in the automobile industry in India are attracting big names with the big purse and they are investing vigorously in infrastructure, design and development, and marketing. Automobile industry in India is today poised for the big leap.

· India is the 2nd largest two wheeler manufacturer in the world

· Second largest tractor manufacturer in the world

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· 5th largest commercial manufacturer in the world

· 3rd largest car market in Asia, surpassing China in the process.

Automobile industry Contributes 17% of the total indirect taxes collected by the exchequer & is a driver of product and process technologies, and has become a excellent manufacturing base for global players, because of its:-

high machine tool capabilities

Extremely capable component industry·

Most of the raw material locally produced·

Low cost manufacturing base·

Highly skilled manpower·

Special capability in supplying large volumes

Domestic and Foreign Vehicle Manufacturers :

Passenger Vehicles

The main domestic manufacturers of passenger vehicles are as follows:

Maruti Udyog Tata / Telco

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Mahindra / Mahindra Hindustan Motors

Foreign competitors manufacturing locally including Hyundai, Ford, GeneralMotors, Honda, Bhagat Group, Volkswagen and Toyota.

Car demand has seen a turnaround since mid 2001 thanks to heavy discounts and cheaper finance. A large number of new models, both locally assembled and imported, have also revitalized the market.

Commercial VehiclesThe main Indian companies in the Commercial Vehicle segment are:

TATA Engineering and Locomotive Company (TELCO) Ashok Leyland Bajaj Tempo Ltd Eicher Motors Ltd Swaraj Mazda. Bhagat Group Of Private Limited.

There is only one international company currently manufacturing CVs in India, Volvo but again volumes are not large. Other global players are active, althoughin partnership with one of the domestic manufacturers E.g.:- IVECO (manufacturing their range of trucks in association with Ashok Leyland. There has been a significant turn around in this segment over the last 18 months with over 30% growth being seen in terms of both production and sales. This sector has received a huge boost with India’s massive demand

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from the infrastructure sector (particularly roads), cyclical fleet replacement by fleet owners and an upturn in the cement and steel sectors.

Need of The Study

The automotive industry in India is amongst the largest in the world and one of the fastest growing globally. India's passenger car, commercial vehicle and 2-wheeler manufacturing industry is racing towards the top spot. With over 17 million vehicles and growing at a cumulative rate of 12%, it’s a $ 60b industry. The auto components industry is also about $31b and growing every

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year by 13%. The exports are a healthy 15% - 18% and growing impressively.  Many more global companies are looking at India as an automotive hub and are attracted by lower cost technical talent. The large pool of junior engineers and technicians is also an attraction. Thus many companies are contemplating, and some have already taken steps, to set-up development bases in India.  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.  Over 50 manufacturers produce vehicles, including trucks and commercial vehicles. Almost a thousand major component manufacturers and almost 10000 minor manufacturers support the industry. It employs over eleven million people, with almost two-third being in un-organized and semi-organized sectors.  This number is expected to reach fifteen million by 2015.  The above is based on study of & interaction with Tata Motors, Fiat, Ford, Volkswagen, Honda, Hyundai, Renault, Suzuki, Maruti, Leyland, Mercedes, General Motors, Mahindra, BMW, Audi, New Holland, JCB, ITL, Eicher, Mitsubishi, etc.

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Scope of the study

It is aimed to study the car market and buying behavior of the customer. The project is analyzed the demographic, psychographic and buying characteristics of the customers in buying the car. It includes the detailed study of customers focusing on the various parameters that lead to identifying and

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understanding the perception of the customer in buying the car brands.

Significance of the study

A brand is a set of expectations and associations evoked from company or product. A brand is how key constituents- customers, employees etc. experiences what you do. Some brands are of such great importance to people, that we speak of them as a part of one’s life and identity, being used to express

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one. Some would say that these brands have their own personality, the brandperception, which can be defined as the set of human characteristics associated with a given brand.

Because many people interact with brand as though they were other people, it is important to understand what a brand perception consists of, and how its characteristics can be used to affect the relationship between the brands and its users. Knowing and understanding the brand perception gives a good insight into this relationship, and into peoples’ attitudes towards the brand, and is also an important guide to communicating the brand.

Like apparel and lifestyles brands, a car is extension of one’s perception. People buy cars which either matches their personalities or those which provide them opportunities of being perceived as somebody they aspire to be. This becomes significant as consumers move up the value chain from small compact cars to midsize and upwards.

Review Of Literature

-By OKADA Aya and N.S. SiddharthanApril 2007

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The auto industry is highly concentrated. The top 10 global automakers account for roughly 80% of the worldwide production and nearly 90% of total vehicles sold in the U.S.

In January 2013, General Motors Company (GM) led with an 18.7% market share in the U.S., followed by Ford Motor Co. (F) with a 15.9% market share, Toyota Motors Corp. (TM) with a 15.1% market share, Chrysler-Fiat with a 11.3% market share, and Honda Motor Co. (HMC) and Nissan Motor Co. (NSANY) at the last spots with 9.0% and 7.8% market shares, respectively.

Toyota recaptured the sales crown from General Motors by selling 9.75 million vehicles globally in 2012, which exceeded GM’s sales of 9.29 million vehicles. Germany ’s Volkswagen AG (VLKAY) came third with sales of 9.07 million vehicles for the year. Toyota’s victory can be attributed to its impressive product lineups and marketing initiatives.

Toyota lost its No.1 position to GM in 2011 after gaining the title from GM in 2008. The loss of crown was driven by declining reputation due to a series of safety recalls as well as negative impact from natural disasters in Japan and Thailand in 2011. However, the automaker had vowed to regain the top position by increasing its dependence on the non-U.S. markets, especially the high growth emerging markets.

-Indian Automobile Industry

By prashanthireddy, october 2010

Driving the most luxurious car has been made possible by the stiff competition in the automobile industry in India, with overseas players gathering the same momentum as the domestic participants.

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Every other day, we have been hearing about some new launches, some low cost cars – all customized in a manner such that the common man is not left behind. In 2009, the automobile industry is expected to see a growth rate of around 9%, with the disclaimer that the auto industry in India has been hit badly by the ongoing global financial crisis.

The automobile industry in India happens to be the ninth largest in the world. Following Japan, South Korea and Thailand, in 2009, India emerged as the fourth largest exporter of automobiles. Several Indian automobile manufacturers have spread their operations globally as well, asking for more investments in the Indian automobile sector by the MNCs.

-By: Skirec, 2010

According to the report of Skirec (2010), Indian automobile industry has high market potential and this article explains the passenger car industry of India market and it plays a key role in developing the economic standards of the country.

The factor analysis process of buying behavior of customers is described within this report along with the information on factors that influence the buying behavior of customers. According to this article, there are different reasons that impact buying behavior of customers willing to buy the car such as educational qualification, family income, personal income and life style etc.

This article proposes different suggestions to the companies in order to identify the buying behavior of the customers. The advertisements will show major impact on buying behavior of customers especially companies should use appropriate advertising strategies in order to attract the customers.

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Finally this study suggests that if customers are attracted to the car of particular company then they will be ready to buy them without changing their behavior.

Future improvement work is required to the article in order to explain the impact of marketing aspects on consumer behavior that insists them to buy or reject specific product of the company.

This article explained the information on assemblers of automobile industry of India and it even specified the information on component suppliers of Indian automobile industry.

-by Kasarla shanthan

According to this article, Indian automobile industry is facing many challenges in global market and local markets. Many foreign companies are planning to enter Indian market that increases competition in the marketplace. In order to overcome the national and international competition Indian automobile companies are developing new strategies to attract Indian customers towards their companies. This article stated the information on strengths and weaknesses of automobile industry of India. The future work and development is required in order to illustrate additional information on competitive levels of Indian automobile industry.

The information on Indian automobile industry and its competitors is described in this research article and for this particular reason this article is used in the research process.  

Finally researcher justifies that Indian auto industry is facing many challenges and problems in local and international markets and the companies should use different strategies and methods in order to overcome the competition and to get competitive advantages among the competitors.

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-By: Ramesh Gavva

One major problem in the automobile industry is the changing buying behavior of the customers. Each and every customer will have their own preferences but they change according to their mindset, and because of this changing behavior the automobile companies are unable to identify the requisite needs of the customers. Because of the existence of more car companies in the market, customers prefer companies that offer new features and designs of high-end models with good quality in performance as well as safety at a low cost price. The main research problem is to identify the buying behavior of Nano customers. The detailed information on Indian automobile industry will be considered and analyzed to identify the problems faced by Indian auto companies in marketing their car products.

It’s apparent that nowadays the fuel cost is increasing regularly which is a major problem faced by every person in the world. Also because of the heavy usage of fuel cars, there is the existence of huge environmental pollution. Because of these problems costumers are thinking twice about fuel efficiency when they buy a car, thus the automobile industry is facing a huge problem in designing a fuel-efficient car to overcome the competition with other companies.   Along with fuel efficiency features the customers are even giving priority to safety, styles and comfort-based services. The automobile companies are facing many problems with the changing buying behavior of the consumers.

-Dr. A.K.Tiwari

In the present era of globalization, companies are finding it difficult to attract the customers towards their offerings. Proper understanding of consumer buying behavior will help the marketer to succeed in the market. In India, with increase in purchasing power of people leading to the change in their

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life style, there has been a huge demand for automobiles with modern technologies. A3 segment cars have a very good market in India. The objective of this paper is to study the behavior of consumers while they go for the purchase of A3 segment cars especially Maruti SX4 and Honda City and also to analyze the attributes of the car which are considered important. Keywords : Consumer Behaviour, Customer Perception, Satisfaction, A3 Segment Cars, Maruti SX4, Honda City etc.

By G. Raghu

The automobile industry today is the most lucrative industry. Due to the increase in disposable income in both rural and urban sector and easy finance being provided by all the financial institutes, the passenger car sales have increased at the rate of 38% per annum in June 2005-06 over the corresponding period in the pervious year. Further competition is heating up in the sector with a host of new players coming in and other like Porsche, Bentley, Audi, and BMW all set to venture in the Indian markets. One factor that could help the companies in the marketing of their product is by knowing and creating a personality for their brands.

This report attempts to answer some of the questions regarding brand personality of selected cars in India by conducting the market research. This report is categorized into parts, deals with introduction to brand personality, companies selected, product and the industry.

The automobile industry today is the most lucrative industry. Due to the increase in disposable income in both rural and urban sector and easy finance being provided by all the financial institutes, the passenger car sales have increased at the rate of 25% per annum in June 2005-06 over the corresponding period in the previous year. Further competition is heating up

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in the sector with a host of new players coming in and others like Porches, Bentley, Audi, and BMW all set to venture in Indian markets. One factor that could help the companies in the marketing of their products is buying Behavior of the consumers. The Buying Behavior of the customers can be studied by knowing their perceptions about the cars in the market and about the possible entrants in the market. One such technique is by knowing and creating a personality for the brands.

Research Methodology

A research process consists of stages or steps that guide the project from its conception through the final analysis, recommendations and ultimate actions. The research process provides a systematic, planned approach to

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the research project and ensures that all aspects of the research project are consistent with each other

Introduction

This chapter aims to understand the research methodology establishing a framework of evaluation and revaluation of primary and secondary research. The techniques and concepts used during primary research in order to arrive at findings; which are also dealt with and lead to a logical deduction towards the analysis and results.

Research Design

I propose to first conduct a intensive secondary research to understand the full impact and implication of the industry, to review and critique the industry norms and reports, on which certain issues shall be selected, which I feel remain unanswered or liable to change, this shall be further taken up in the next stage of exploratory research. This stage shall help me to restrict and select only the important question and issue, which inhabit growth and segmentation in the industry.

The various tasks that I have undertaken in the research design process are :

Defining the information need Design the exploratory, descriptive and causal research.

RESEARCH PROCESS

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The research process has four distinct yet interrelated steps for research Analysis It has a logical and hierarchical ordering:

Determination of information research problem. Development of appropriate research design. Execution of research design. Communication of results.

Each step is viewed as a separate process that includes a combination of task , step and specific procedure. The steps undertake are logical, objective, systematic, reliable, valid, impersonal and ongoing.

Exploratory Research

The method I used for exploratory research was

Primary Data. Secondary data.

PRIMARY DATA

New data gathered to help solve the problem at hand. As compared to secondary data which is previously gathered data. An example is information gathered by a questionnaire. Qualitative or quantitative data that are newly collected in the course of research, Consists of original information that comes from people and 2 includes information gathered from surveys, focus groups, independent observations and test results. Data gathered by the

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researcher in the act of conducting research. This is contrasted to secondary data which entails the use of data gathered by someone other than the researcher information that is obtained directly from first-hand sources by means of surveys, observation or experimentation.

Primary data is basically collected by getting questionnaire filled by therespondents.

Secondary Data

Information that already exists somewhere, having been collected for another purpose. Sources include census reports, trade publications, and subscription services. Data that have already been collected and published for another research project (other than the one at hand). There are two types of secondary data: internal and external secondary data. Information compiled inside or outside the organization for some purpose other than the current investigation. Data that have already been collected for some purpose other than the current study. Researching information which has already been published. Market information compiled for purposes other than the current research effort; it can be internal data, such as existing sales-tracking information, or it can be research conducted by someone else, such as a market research company or the U.S. government. Published, already available data that comes from pre existing sets of information, like medical records, vital statistics, prior research studies and archival data.

Secondary source of data used consists of books and websites

My proposal is to first conduct a intensive secondary research to understand the full impact and implication of the industry, to review and critique the

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industry norms and reports, on which certain issues shall be selected, which I feel remain.

DESCRIPTIVE RESEARCH

STEPS in the descriptive research:

Statement of the problem Identification of information needed to solve the problem Selection or development of instruments for gathering the

information Identification of target population and determination of sampling

Plan. Design of procedure for information collection Collection of information Analysis of information Generalizations and/or predictions

Data Collection

Data collection took place with the help of filling of questionnaires. The questionnaire method has come to the more widely used and economical means of data collection. The common factor in all varieties of the questionnaire method is this reliance on verbal responses to questions, written or oral. I found it essential to make sure the questionnaire was easy

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to read and understand to all spectrums of people in the sample. It was also important as researcher to respect the samples time and energy hence the questionnaire was designed in such a way, that its administration would not exceed 4-5 mins. These questionnaires were personally administered.

The first hand information was collected by making the people fill the questionnaires. The primary data collected by directly interacting with the people. The respondents were contacted at shopping malls, markets, places that were near to showrooms of the consumer durable products etc. The data was collected by interacting with 200 respondents who filled the questionnaires and gave me the required necessary information. The respondents consisted ofhouse wives, students, business men, professionals etc. the required information was collected by directly interacting with these respondents.

Sampling Techniques

Research studies are distinct events that involve a particular group of participants. However, researchers usually intend on answering a general question about a larger population of individuals rather than a small select group.  Therefore, the main aim of psychological research is to be able to make valid generalisations and extend their results beyond those who participate. For this reason, the selection of participants is a very crucial issue when planning research. Obviously, researchers cannot collect data from every single individual from their population of interest, since this would be extremely expensive and take a very long time!  So instead they use a small group of individuals – called a sample. The sample is chosen from the population and is used to represent the population. Researchers use sampling techniques to select the participants for their sample – these techniques help to minimise cost whilst maximising generalisability. So, in

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this weeks blog I am going to be discussing the different sampling techniques and methods, and considering the issue of sampling bias and the problems associated in research.

There are a variety of different sampling methods available to researchers to select individuals for a study. Sampling method fall into two categories:

1. Probability sampling: Every individual in the population is known and each has a certain probability of being selected. A random process decides the sample based on each individual’s probability.

2. Nonprobability sampling:  The population is not entirely known, thus individual probabilities cannot be known. Common sense or ease is used to choose the sample, but efforts are made to avoid bias and keep the sample representative.

Simple random is an example of probability sampling. This is when a list containing all of the population is created and used to obtain participants by random selection. This random selection guarantees that each individual has an independent and equal chance of being selected. This method is very fair, unbiased and easy to carry out. However, with simple random sampling there is no assurance of complete representativeness of the sample. Another example of simple random sampling is cluster sampling. This is when the sample is gained by the random selection of clusters (pre-existing groups of individuals) from a list containing all of the clusters existing within a population. Cluster sampling is often used to estimate number of mortalities in events such as war and natural disaster¹. This method is easy for obtaining a large and relatively random selection of participants, however, the selections lack independence.

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Limitations of the Study

a) Improper Response Of People

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During the survey, the people or users did not responded properly. It was because if their ignorance and lack of seriousness while filling questionnaire.

b) Presence Of Human BiasIn Study this factor cannot be ruled out.

c) Different Perceptions And Expectations Of Users.About Different Model cars, an exact and definite analysis of each users was not possible to made.

d) A strong unwillingness on the part of the owners of various cars, to participate and aid the research.

e) The boredom and wavering concentration that set in among the respondents while answering the long questionnaire: thus in turn led to the difficulty of preventing incomplete questionnaires.

f) Sampling error: the research include a sample size of 100 customers which is not enough to determine the brand perception of the consumers for buying the cars. Since its not a census survey there is always a chance of error while extrapolating the results of a sample study over the population especially in those researches where the qualitative aspects are concerned. So it’s always doubtful to map the qualitative aspects using a quantitative measure.

g) The study was limited to the geographical region of Patiala.

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Data Interpretation and Data analysis

 

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Industry present and future trends:-

Automobile is one of the largest industries in global market. Being the leader in product and process technologies in the manufacturing sector, it has been recognized as one of the drivers of economic growth. During the last decade, well¬-directed efforts have been made to provide a new look to the automobile policy for  realizing the sector's full potential for the economy. Steps like abolition of licensing, removal of quantitative restrictions and initiatives to bring the policy framework inconsonance with WTO requirements have set the industry in a progressive track. Removal of the restrictive environment has helped restructuring, and enabled industry to absorb new technologies, aligning itself with the global development and also to realize its potential in the country. The liberalization policies have led to continuous increase in competition which has ultimately resulted in modernization in line with the global standards as well as in substantial cut in prices. Aggressive marketing by the auto finance companies have also played a significant role in boosting automobile demand, especially from the population in the middle income group.

Evolution of Automobiles Industry in India:-Four-Wheeler segment is one of the most important components of the automobile sector that has undergone significant changes due to shift in policy environment. The four-wheeler industry has been in existence in the country since 1955. According to the figures published by SIAM, the share of four-wheelers in automobile sector in terms of units sold was about 80 per cent during 2003-¬04. This high figure itself is suggestive of the importance of the sector . In the in i t ia l years, entry o f firms, capacity expans ion, choice of products including capacity mix and technology, all critical areas of functioning of an industry, were

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effectively controlled by the State machinery. The lapses in the system had invited f resh po l icy opt ions that came into being in late s ixt ies . Amongst these pol ic ies ,  

Monopolies and Restrictive Trade Practices (MRTP) and Foreign Exchange RegulationAct (FERA) were aimed at regulating monopoly and foreign investment respectively.This controlling mechanism over the industry resulted in: (a) several firms operating  below minimum scale of efficiency; (b) under-utilisation of capacity; and (c) usage of outdated technology. Recognit ion of the damaging effects of l icens ing and fet ter ing  policies led to initiation of reforms, which ultimately took a more prominent shape withthe introduction of the New Economic Policy (NEP) in 1985.

However, the major set of reforms was launched in the year 1991 in response to the major macroeconomic crisis faced by the economy. The industrial policies shifted from a regime of regulation and tight control to a more liberalized and competitive era. Two major results of policy changes during these years in Four-wheeler industry were that the, weaker players died out giving way to the new entrants and superior products and sizeable increase in number of brands entered the market that compelled the firms to compete on the basis of product attributes. Finally, the two-¬wheeler industry in the country has been able to wi tness a prol i ferat ion of brands wi th introduct ion of new technology as wel l as increase in number of p layers . However, wi th var ious pol icy m e a s u r e s u n d e r t a k e n i n o r d e r t o i n c r e a s e t h e c o m p e t i t i o n , t h o u g h t h e d e g r e e o f   concentration has been lessened over time, deregulation of the industry has not really resulted in higher level of competition.

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A Growth Perspective:-

The composition of the two-wheeler industry has witnessed sea changes in the post-reform period. In 1991, the share of scooters was about 50 per cent of the total 2-wheeler demand in the Indian market. Motorcycle and moped had been experiencing almost equal level of shares in the total number of two-wheelers. In 2003-04, the share of motorcyc les increased to 78 per cent of the tota l two-wheelers whi le the shares of  scooters and mopeds decl ined to the level o f 16 and 6 per cent respect ive ly . A c lear    picture of the motorcycle segment's gaining importance during this period is exhibited by  the Figures 1, 2 and 3 depicting total sales, share and annual growth during the period1993-94 through 2003-04.

It is important to remember that the above-mentioned forecast presents a long-term growth for a period of 10 years. The high growth rate in Cars (diesel) segment at present will stabilise after a certain point beyond which a condition of equilibrium willset the growth path. Another important thing to keep in mind while interpreting these growth rates is that the forecast could consider the trend till 1999 and the model could not capture the recent developments that have taken place in last few years. However, this will not alter the regional distribution to a significant extent.

Majo r firms in an Industry

Major players in Automobiles Industries:-

Maruti Suzuki Toyota Fiat Honda

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Hyundai Chevrolet Nissan Mahindra Skoda Renault Tata

The Purpose of the study is to anyluse the perception regarding purchase of cars like Volkswagen, Honda, Hyundai, Toyota, Tata. For this purpose a questionnaire was desighned and utmost care was taken to fill them to present the data various look like pie charts, graphs, were used some questions were asked to know the awareness level of costumer satisfaction of Volkswagen, Honda, Hyundai, Toyota, Tata.

Here we used percentage value method. The inferences drawn from the various aspects of the research are as follows. Respondents were the users of Volkswagen, Honda, Hyundai, Toyota. 100 respondents were taken from Patiala City.

Do you use a Car?

Users of Car NO. of Respondents Percentage

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Yes 94 94No 6 6total 100 100

Users of CARS

1st Qtr2nd Qtr

It was found that the majority (94%) of respondents is using the cars and 6% are not using the cars.

For how long you are using car?

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Time No. of respondents PercentageFrom 1-3 yrs 34 34From 4-7 yrs 48 48From 8-12 yrs 8 8Others 4 4Total 100 100

Time

It was found that 34% of respondents are using the cars from 3 years , 48% are using the car from 7 years, 8% from 10 years and only 4% from more than 10%.

Which car is of your preference?

Preference No. of respondents Percentage

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Polo 72 72Vento 10 10I20 8 8Swift 4 4Others 0 0Total 100 100

Which car is your preference?

It was observed that most prefered brand is Hyundai, Volkswagen, Honda. And least prefered Volkswagen.

Have you been some other Brand earlier?

Using of Other No. of Respondents Percentage

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BrandYes 61 61No 39 39Other 100 100

YesNo

Only 61 people have been using the other Brands.

What is the purpose of possessing Cars?

Purpose No. of respondents Percentage

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Personal use 60 60Office use 8 8Both 26 26Total 100 100

Personal Use

Office Use

Both

0 0.5 1 1.5 2 2.5 3 3.5 4 4.5

It was oberseved that 60% of the users use the cars for personal use and the main users are employees for 8% and many users are for both.

How much You are Satisfied with your Current Car?

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Satisfaction No. of respondents PercentageStrongly satisfied 44 44Satisfied 38 38Neutral 4 4Dissatisfied 8 8Strongly Dissatisfied 0 0Total 100 100

Satisfied strongly satisfied neutral dissatisfied Strongly dissatisfied0

5

10

15

20

25

30

35

40

45

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Series 1

It was observed that 80% of people satisfied with their car whichever they are using and only 6% are dissatisfied with their car.

Have you Switched over from one car to another?

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Switched from Car No. of respondents PercentageYes 53 53No 47 47Total 100 100

YesNo

It was Found that 53% have shifted from one car to another and 47% people are loyal towards their Brand.

Demographic Profile60

The demographic Profile of 100 respondents has been listed below. Thus accordingly the interpretation regarding them is made. The various demographics profile are listed below and Pie chart, Bar graphs are made accordingly.

Gender of Respondents

Response RespondentsMale 60Female 40Total 100

malefemale

This pie chart depicts that out of the 100 respondents, 60 respondents were male and 40 were Female. Thus male respondents are 60% and females are 40%.

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Occupation Of respondents

Response No. of respondents PercentageBusiness 82 82Service 06 06Student 10 10Professional 8 8Total 100 100

Sales

BusinessServiceStudentProfessional

The pie chart depicts here that out of the 100 respondents surveyed 80% Business persons, 4% were professionals, 10% are student and the remaining6% are serviceman.

Age Group of respondents?

Response No. of respondents PercentageBelow 20 years 3 3

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21-40 years 93 9341-60 years 4 4Above 60 years 0 0

Below 20 years21-40 yrs41-60 yrsabove 60 yrs

From the above pie chart we could see that 93% of the respondents were of the age of 40 years. 4% lie in the age group of 41 to 60 and the rest 3% are below 20 years.

Education of Respondents?

Response Respondents percentageUndergraduate 5 5Graduate 26 26Post Graduate 69 69Any other 0 0

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Under graduate Graduate Post graduate any other0

10

20

30

40

50

60

70

80

Series 1

Series 1

From the above bar graph we find that 69% of respondents are post- graduates and 26% are graduates and 5% are under-Graduates.

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Suggestions

Fully autonomous car is not coming anytime soon

Autonomous vehicle technology will be adopted in stages, according to Hans-Wenner kaas, the senior partner at Mckinsey who co-authored the report. Semi-autonomous safety technology.

The internal combustion engine is hard to beat

Environmental regulations for vehicles aretighting around the world, with carbon dioxide emissions.

Emerging markets are Big deals

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Conclusion

To conclude, the results show that the companies are playing on the peripheral cues to maintain their Total Relationship Management and connect to the customers both present and potential. The companies are operating in a highly aggressive and competitive global market place and this climate has led to the emphasis on quality in all aspects. TQM focuses on integration and coordination as well as the continuous improvement of all activities and processes. Total Relationship Management (TRM) is a very recent marketing strategy and philosophy. It focuses on and is concerned with all integrated internal and external activities within and between the organizations. These two terms are integrated by the manufacturers by building good quality products and building good relationship with dealers and enhancing service levels.

So, it becomes necessary automatically to study dealer as a part of customers’ satisfaction journey with the product called car! Their proximity to the customers, the service provided by them and the relationship maintained by them with the customers helps the car companies to establish and reinstate the brand personality communicated by them to the customers.

Finally the major point that emerges out of this detailed study is a caution for the car companies. It says that there is no doubt that Indian car market may be growing with a double digit figure still the car companies have a long way to travel to convince their customers about the brand personality of their

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cars and how it suits the prospective buyers. Simply because it simply is not a guarantee that how so ever good the customer might be holding the brand perception and how so ever good the brand image may be it is not a guarantee that it will convert into sale. Cars just like clothes and accessories suit the style and persona of a person and since all cars will become commodity someday the key to sell and excel in the market will lie with a person who knows how to use the perceptions of the customers to its use and sell the cars ‘coz ultimately only that car survives which sells!

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BIBLIOGRAPHY

1. I have visited in various showrooms.

2. Internet Sites:

www.bajajmotors.com www.herohondamotors.com www.indiabike.net.com www.google.com www.yahoofinance.com www.indiaserf.com www.yamahamotorsindia.com www.hondawheeler.com www.bhagat ford.com

4. Autocars

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Annexure

Questionnaire

I am the student of BBA(5th Sem) from Department of Management Punjabi university, Patiala. I am doing project on Consumer Behavior in automobiles industries . Kindly Spare a few minutes to fill this questionnaire.

1.) Do You Have a Car?

Yes NO

2.)For how long you are using a Car?

1-3 yrs 4-7 yrs 8-10 yrs more

3.) Which Car is of your Prefrence?

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Polo Vento I20 Swift

4.) Have you been some other Brand earlier?

Yes No.

5.) What is the purpose of possessing Cars?

Personal Use Office use Both

6.) How much you are Satisfied with your Car?

Strongly Satisfied Satisfied Neutral Dissatisfied Strongly Dissatisfied.

7.) Have you switched over from one car to another?

Yes No

Respondent Profile

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Age Below 20 yrs 21-40 yrs 41-60 yrs Above 60 yrs

Gender Male Female

Occupation Student Business Service Professional

Qualification Undergraduate Graduate Post Graduate Any other

Annual Income Up to 2 lakh 2-4 lakh

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4-6 lakh Above 6 lakh.

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