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8/17/2019 Preferences of Consumers On VESPA
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1.INTRODUCTION
Customer satisfaction, a business term, is a measure of how products and
services supplied by a company meet customer expectation. It is seen as a key
performance indicator within business and is part of the four perspectives of a
Balanced Scorecard.
In a competitive marketplace where businesses compete for customers,customer satisfaction is seen as a key differentiator and increasingly has become
a key element of business strategy.
There is a substantial body of empirical literature that establishes the benefits of
customer satisfaction for firms.
"Customer satisfaction" is the important statement of the problem in this project.
Measuring customer satisfaction
Customer satisfaction refers to the extent to which customers are happy with the
products and services provided by a business. Customer satisfaction levels can
be measured using survey techniques and questionnaires. Gaining high levels of
customer satisfaction is very important to a business because satisfied customers
are most likely to be loyal and to make repeat orders and to use a wide range of
services offered by a business.
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2.THEORETICAL BACKGROUND OF STUDY
Market
The term market may be considered as a convenient meeting place where buyers and sellers
gather together for the exchange of goods and services. Market means a group of people
having unmet wants, purchasing power to make their demand effective and the will to spend
their income to fulfill those wants.
Marketing
Marketing is a comprehensive term and it includes all resources and set of activities necessary
to direct and facilitate the flow of goods and services form the producer to the consumer
through the process of distribution. Businessmen regards marketing as a management
function to plan promote and deliver products to the clients or customers .
Marketing Management
Marketing management represents an important functional area of business management
efforts for the flow of goods and services from the producer to the consumers. It looks after
the marketing system of the enterprise. It has to plan and develop the product on the basis of
known customer demand.
Marketing Mix
Marketing mix is the set of marketing tools the firm uses to pursue its marketing objectives in
the target market.
There are four elements or variables that make a marketing mix, they are:
1. Decisions on product or service.
2. Decisions on promotion
3. Decisions on price
4. Decesion on Distribution
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Marketing Research
Marketing research is the systematic gathering, recording and analyzing of the data about
problems connected to the marketing of goods and services i.e. problems relating to product,
price, promotion and distribution of the 4p’s of the marketing mix.Marketing research is
concerned with all those factors, which have a direct impact upon the marketing of products
and services. Marketing research has grown along with the expanded role of marketing as the
focus for the business decision-making.
Consumer
A person who purchase or has the capacity to purchase the goods of service often for sale by
the marketing firm in order to satisfy personal need and desires.
Perception
Perception is the sensing of stimuli external to the individual organism the act or process of
comprehending the world in which the individual exists.
Perception has been defined by social psychologists as the “Complex process” by which
people select organize and interpret sensory stimulation in to a meaningful and coherent
picture of the work.
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Desired sample size:
A sample size of 100 motorcycle owners was specified in Nanded city.Research was undertaken in Vaishnavi motors,Nanded.
Objectives of the study
1. The objective of the study is“Measure customer satisfaction towards Vespa”.
2. To measure customer satisfaction of Piaggio Vespa scooter owners.
3. To know the tastes and preferences of people of when it comes to PiaggioScooters.
4. To find the reasons for buying vespa motorcycle.5. To know the showroom people co-operation & availaiblity of acessories.
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4. INDUSTRY PROFILE
Two-Wheeler industry is one of the largest industries in the automobile sector of 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. 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.
India is the second largest manufacturer and producer of two-wheelers in the world. It stands
next only to Japan and China in terms of the number of two-wheelers produced and the
domestic sales respectively. This distinction was achieved due to variety of reasons like
restrictive policy followed by the Government of India towards the passenger car industry,
rising demand for personal transport, inefficiency in the public transportation system etc.
The Indian two-wheeler industry made a small beginning in the early 50s when Automobile
Products of India (API) started manufacturing scooters in the country. Until 1958, API and
Enfield were the sole producers.
In 1948, Bajaj Auto began trading in imported Vespa scooters and three-wheelers. Finally, in
1960, it set up a shop to manufacture them in technical collaboration with Piaggio of Italy.
The agreement expired in 1971.
In the initial stages, the scooter segment was dominated by API; it was later overtaken by
Bajaj Auto. Although various government and private enterprises entered the fray for
scooters, the only new player that has lasted till today is LML.
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Under the regulated regime, foreign companies were not allowed to operate in India. It was a
complete seller market with the waiting period for getting a scooter from Bajaj Auto being as
high as 12 years.
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5.COMPANY PROFILE
Founded in 1884,Piaggio & C. s.p.a is today one of the leading manufacturers of 2-wheelerand small commercial vehicles in the world. With its registered office in Pontedera(pisa),
Piaggio is the market leader in Europe and has expanded its operations to 24 countries,
including a major presence in Asian Markets.
The product range includes Scooters, mopeds and motorcycles starting from 50 to 1200cc
under the piaggio, Vespa, Gileria, Aprilia, Moto Guzzi, Derbi and Scarabeo brands.The 3 and
4 wheeled light transportation vehicles are marketed under the Ape, Porter and Quargo
brands.
Piaggio Vehicles Private Limited (PVPL), the pioneer of 3-wheeler goods transportation inIndia, is today the no. 1 in its class. By setting global standards in vehicle performance and
customer service, it has revolutionized the 3 wheeler cargo segment in India. Today the
company offers a range of passenger and cargo vehicles for many customized applications.
Piaggio vehicles are engineered for higher fuel efficiency, rugged performance and
outstanding load carrying capability. Living up to Piaggio’s core philosophy, all its vehicles
conform to the most stringent emission norms.
PVPL has now firmly established its position as an undisputed leader in the diesel 3w market.
This impressive growth trajectory would not be possible without PVPL’s advanced R&D
center, modern manufacturing unit and stellar network. In the past 10 years, over 1.5 million
Indian transporters have trusted apé for total dependability, reliability and profitability.
Today, lakhs of tonnes of cargo and millions of passengers are transported daily across the
country on the apé.
Piaggio India has successfully introduced state-of-the-art products with world class
technology in India. Its reputation is built on its efficient network spread across India,
providing worldclass customer care..
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To be the no.1 and the most profitable global player with world class quality and technology
leadership in the light commercial vehicle category offering transportation solutions for
specific customer needs.
To be perceived as a unique, high-impact, fast response, innovative and growth oriented
company which is known around the world for its unmatched level of excellence.
To become market leader in the light transportation vehicle segment, and achieve the status of
world-class company which manufactures & markets a wide range of high quality product to
the total satisfaction of customer in the domestic and overseas market by ensuring:
*Low cost of manufacture
*High profiable growth*Sustainable domestic & global competition
*Maximised stake holder’s satisfaction and pride
*Business Ethics
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Corporate Social Responsibility
In order to improve and facilitate public hygiene, PVPL has donated apé 3-wheeler SpecialPurpose Vehicles for Garbage Collection & Transportation. With a view to encourage greater
participation from students as well as institutions, some of our initiatives in this realm are:
• PVPL sponsored the National Level Science Exhibition, organized by Vidya
Pratisthan, Vidya Nagari, MIDC, Baramati, attracted illustrious visitors such as the
then Hon. President of India, Mr. APJ Abdul Kalam.
• PVPL has sponsored the ‘Interschool Science Quiz Competition’, an event organized by Vidya Pratisthan’s D. Ed College (English & Marathi medium), MIDC, Baramati.
• PVPL has donated Personal Computers to schools at Baramati.
• As a move to promote disciplined driving, PVPL has sponsored one of the Traffic
Signals at Baramati.
• PVPL has also sponsored the Baton Rally at Baramati for Commonwealth Youth
Games.
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PRODUCT PROFILE
VESPA
PVPL is proud to launch the iconic Vespa in India. Vespa is a unique example of immortaldesign that has gone beyond a mere commuting product to become a part of social history and
way of life.
The Vespa is an ageless brand that is now a symbol of a distinctive lifestyle in market after
market around the world. Invented by Piaggio in 1946 as the world's first scooter, the Vespa
rose rapidly in popularity to become a loved and revered emblem of 'made in Italy' and 'a
new, unique way of enjoying mobility'. The Vespa is present in more than 100 countries withover 17 million units being sold since its inception.
With its Indian foray, Piaggio intends to create an exclusive, premium segment for the brand.
The Vespa will be positioned as a lifestyle, iconic, timeless and ageless product that goes
beyond mobility and leverages its heritage and unique values.
Vespa in India will meet the aspirational needs of the fashion, style and brand conscious
individuals who would like to be a breed apart. Predominantly aimed all over the world at a
premium segment of consumers who are looking to own nothing but the best.
The Vespa production plant opened today is the third factory set up by the Piaggio Group in
Baramati, a city in the Pune district of the State of Maharashtra. The area is home to the
manufacturing complex of Piaggio Vehicles Private Ltd., a wholly owned Piaggio Group
subsidiary which already produces three-wheel goods and passenger vehicles (and is the
market leader in India, with annul sales of more than 220,000 vehicles) and, in an adjoining
facility, scooter engines for the Vespa and diesel and turbodiesel engines for the commercial
vehicle ranges produced by Piaggio in India and in Italy, in Pontedera. With the opening of
the Vespa production plant, the Piaggio Group industrial complex in Baramati now provides
jobs for approximately 3,000 workers.
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What it costs
Ex-showroom Rs 66,000 (Maharashtra)
Engine
Fuel Petrol
Installation Inclined from vertical
Type 125cc Single-cylinder, 3-
valve air-cooled, four-
stroke
Compression ratio 10:1
Power 10.06bhp at 7500rpm
Torque 1.08kgm at 6000rpm
Power to weight 88.2bhp per tonne
Transmission
Type CVT
Dimensions
Length 1770mm
Width 690mm
Height 1140mm
Wheel base 1290mm
Chassis & Body
Weight 114kg
Wheels 3-spoke alloy
Tyres 90x100x10 inches (Frontand rear)
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MODELS:
LX125
The Vespa LX 125 is a scooter currently made by Piaggio.
The LX 125 uses the same frame as the LX 50 but features a 125 cc engine capable of a listed
maximum speed of 59 mph (95 km/h). The LX 125, like all modern Vespa scooters features a
4-stroke single overhead camshaft and steel frame construction. Vespa claims 70–75 mpg -
US (3.4–3.1 L/100 km; 84–90 mpg-) fuel efficiency.
The LX models feature an automatic torque slave transmission and front disc and rear drum
brakes.
VX125
The Vespa VX 125 is the second premium scooter from Piaggio. Cosmetically and
mechanically, the scooter is similar to the LX 125 but there are few improvements; most
important of them is the 200mm front disc brake setup. The Vespa VX 125 features the MRF
Zapper tubeless tyres and the instrument cluster has been updated to give a fresh look. The
Vespa VX is powered by the same 125cc single-cylinder air cooled engine which powers its
lower version. The engine develops 10.06bhp of power at 7500 rpm which is transmitted to
the rear wheel via a CVT transmission
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6. SWOT ANALYSIS
Strength:
* Brand itself speaks* Pick up
* World wide market
* Potential Parent Brand
Weakness:
* Price
* Reluctant to change
* No scope for semi urban places
* Lack of celebrity marketing* Limited Models
Opportunities:
* Introducing more models* Expansion Of territory in semi urban areas
Threats:
*Compeitators
* Political Factors
* Licensing/Legal Factors
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7.ANALYSIS OF DATA COLLECTED
Statement Of Problem
To understand and identify what the consumer feels or perceives about Piaggio motor bikes.
This will help the marketer to identify which all are the factors that a consumer looks in to
when he selects a particular bike. And also explains how a consumer selects and interprets
the qualities of bike that Piaggio offers.
Objectives of the study
1. The objective of the study is“Measure customer satisfaction towards Vespa”.
2. To measure customer satisfaction of Piaggio Vespa scooter owners.3. To know the tastes and preferences of people of when it comes to Piaggio Scooters.4. To find the reasons for buying vespa motorcycle.
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1.The age group in which respondents lie under:
Interpretation / Analysis:
Most of the respondents lie in the age group of 18-25 i.e 30%.Followed
by 33% of which lies under the group of 26-35, 29% of the respondents
are from the age group of 36-50 and 08% of people were lying under age
group of 50 & above.
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Age Group Respondents
18-25 30
26-35 33
36-50 29
50< 08
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2. Respondents Work Status/Employment Status:
WORK STATUS Respondents
Professional 33
Business 12
Student 27
Others 28
Interpretation / Analysis:
In the above graph we can see the work status in which 33 % are professionals,
12% are from business category,12% are students and remaining 28% aquired
by others( Non-Professionals).
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3.Respondents Source of Awareness with regard to Piaggio Vespa Scooter:
Source Of Awareness Respondents
Tv Advertsement 60
Newspaper 22
Friends & Peer 14
Radio 04
Interpretation/Analysis:
In the above graph it is shown that 60% of people come to know about vespa through Tv
advertisement,22% of people come to know through newspaper followed by Friends & peer
i.e, 14% and remaining 04% through Radio.
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4.Respondents Satisfaction towards price of vespa
Price Satisfaction Respondents
Satisfactory 45
Unsatisfactory 55
Interpretation/Analysis:
In the above graph it is shown that 45% of respondents are satisfied towards vespa scooter
price and remaining 55% of people are unsatisfied.
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5. Respondents rating towards Bodystyle, Design & Look of Vespa Scooter
Ratings Respondents
Excellent 24
Good 36
Average 30
Poor 20
Interpretation/Analysis:
In the above graph it is shown that 36% of people rated Good,30% of people rated it as
average and 24% of people rated as Excellent and remaining 20% of people rated it as Poor.
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6. Respondents Satisfaction Towards Driving comfort of Vespa?
Driving Comfort Respondents
Excellent 36
Good 28
Average 22
Poor 14
Interpretation/Analysis:
In the above graph it is showed that 36% of people expressed it as Excellent,28% of people
said it as good,22% of people said it as average,& remaining 14% of people rated it as poor.
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7.Respondents Preference towards colour of vespa?
Colour Preference Respondents
White 28
Yellow 38
Orange 14
Black 20
Interpretation/Analysis:
In the above graph it is showed that 38% of respondents prefer yellow colour,28% of people
prefer white,20% of people prefer for black & remaining 14% for Orange.
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8.Stisfaction towards pickup and Performance?
Pickup & Performance No.of Respondents
Satisfactory 78
Unsatisfactory 22
Interpretation/Analysis:
In the above graph it is showed that 78% of people are satisfied towards pickup &
performance and 22 % people are unsatisfied.
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9.Response Towards the Quality of Vespa scooter
Quality Respondents
Excellent 26
Good 40
Average 20
Poor 14
Interpretaion/Analysis:
With respect to quality in the above graph it is showed that 40% of people rated it as
good,26% of people rated it as Excellent,20% of people rated it as Average and 14 % people
rated it as Poor.
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10.Response towards various attributes Of Vespa?
Attributes Respondents
Breaking 30
Safety 26
Storage 44
Interpretation/Analysis:
In the above graph it is showed that 44% of people like its storage capacity, 26% towards its
safety & 30% people like its breaking system.
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11. Response towards Features of Vespa
Technical Features Respondents
Style & Design 22
Acceleration 36
Riding Comfort 28
Mileage 14
Interpretation/Analysis:
In the above graph it is demonstrated that 36% of respondents choose its acceleration,28%
people choose its riding comfort,22%people prefer to style & mileage and remaining 14%
people reffered it for mileage.
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12. Response towards co-operation by showroom people?
Co-operation Respondents
Satisfactory 88
Unsatisfactory 12
Interpretation/Analysis:
In the above graph it is demonstrated that 88% of people are satisfied with the co-operation
towards sowroom people & 12% people are not satisfied.
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13.Response towards availability of accessories and spare parts
Availaiblity Respondents
Satisfacctory 60
Unsatisfactory 40
Interpretation/Analysis:
In the above graph it is showed that 60% respondents are satisfied towards availability of
spare parts & accessories & 40% people are unsatisfied.
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15.Response Towards Recommendation Of Vespa To others:
Recommendation Respondents
YES 82
NO 18
Interpretation/Analysis:
In the above graph 82% of people respond positively toeards recommending the scooter to
others and remaining 18% reacted negatively.
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8.FINDINGS, SUGGESTIONS & CONCLUSION
Findings
• More focus was towards Urban Area.
• Relaunch of outdated model lead to dis-intrest in youth to purchase. • It succeded in attracting professional but failed to reach business people • Lot of dis-satisfaction towards price as because of price skimming strategy used by
Vespa. • Storage & Pickup considered to be major attributes of the vehicle . • Mileage acted as a loophole in sales of a scooter. • Lack of service centres in semi-urban places.
Suggestions
. Need to expand the territory for semi urban areas.
• Modification or Updation generates intrest in youth.
• Need to improve the boot space of the vehicle so that it acts major advantage to
business people.
• Need to reduce the price as to beat the compeitation.
• Improvement in Mileage
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CONCLUSION
During the live project we found that so many people and officials use vespa bikes because of
pickup. Some of the office going people and students(Female) prefer vespa because of its
easy handling too.
People preference to vespa scooters is rapidly increasing because of Pickup and satisfactory
after-sale service.
LIMITATIONS OF THE STUDY:
1. The responses given by the respondents may not be true.
2. The respondents may be careless in responding to the questionnaire.
3. The respondents may be illiterate
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Learning Experience
This study made us to understand the demand and factors which affect the buying preference
of a consumer. They always take care of customer taste out of the 4 ‘P’s of marketing price, product plays very important role though promotion doesn’t play that much important role
because in our survey we found that the least factor which affects the consumer to vespa
bikes was promotion, but another fact is that consumers preference is always quality and
prices of the bike.
This company is majorly influenced by price factor as in this field too many competitors are
ready to occupy the market share as consumer taste and preference vary according to various
factor so by understanding the consumer need we must fix the competitive price.
The pie chart creates a visual model, which people can use when comparing different data
sets. Using different colors, pie charts divide information into sections resembling pie slices
which is accompanied by a number of percentages, and its size changes accordingly. Graphs
and charts condense large amounts of information into easy-to-understand formats that clearly
and effectively communicate important points.
In the near future consumers desires more and more bikes to be introduced in the market and
at the same time they should maintain quality because most of the consumers prefer Vespa
scooter by quality .
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ANNEXURE
QUESTIONNAIRE
),77*/ ^ 32 N85123 _*9;37+3. G.*2 ^B] P39;,;/ 89;,.C*9,
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REFERENCE
1. www.VespaIndia.com
2. www.Overdrive.com
3.Mcgraw hill publications