Project On Buying Motives Of Hyundai I10 Car
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Buying Motives of Hyundai i10 car
Chapter 1 Introduction
Bineshkumar C S
1
Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
1.1 INTRODUCTION TO THE STUDY The study makes an attempt to identify the buying motive of Hyundai i10 car with special reference to KTC Hyundai, Calicut. The primary objective of the study was to find out the various drives that motivate customers to buy Hyundai i10 car.
The research design chosen for the study was descriptive research study. The population for the study is the valuable customers from Calicut districts of Hyundai i10 car. The sample size for the study was 50 and the technique was convenience sampling.
The findings reveal that the majority of the customers were influenced by the comfort of the Hyundai i10 car. There are also some suggestions for motivating customers to buy Hyundai i10.
It is hoped that the study will definitely help to accomplish the need for knowing more about the customer there by it helps the company to develop marketing strategies and achieve the major objective from that.
Bineshkumar C S
2
Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
1.2 RESEARCH PROBLEM . The company wants to know more about the drives of customers that motivate them to purchase Hyundai i10. It‘s very important for every marketer to know about the buying motives of the customers because it helps them to design proper policies and programs to attract customers. It also helps them to determine their advertisement budget and also to plan various sales promotion measures.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
1.3 SIGNIFICANCE OF THE STUDY The study of buying motives is very important in framing price policies, product policies, and distribution policies and also in designing the sales promotion programmes. It is important for the marketers to understand the buyer motives due to the following reasons.
1.
It is helpful in understanding the buying motives and preferences of different customers. This enables the marketer to design appropriate marketing strategies.
2. It helps to plan and modify products according to the taste and preference of customers. 3. It is also helpful in framing suitable pricing policies. 4. It is also helps in determining advertising budget. 5. It helps in planning and designing sales promotion strategies.
Bineshkumar C S
4
Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
1.4 OBJECTIVES OF THE STUDY Primary objective: To find out various drives that motivates customers to buy Hyundai i10 car.
Secondary objectives: To find out advertisement effectiveness of Hyundai i10 car. To know the satisfaction level of customers To know which class of customers is using Hyundai i10. To know more about the overall experience of customers about their dealers.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
1.5 SCOPE OF THE STUDY
Today the existence of an organization depends on its ability to understand the customers and producing and delivering products or services according to those needs.
This project indented to find out the buying motives of Hyundai i10 car with special reference to KTC Hyundai. This study will help the company to redesign their marketing strategies such as product design, sales promotion activities etc. so as to the meet the needs of customers.
As per the scope of the study is concerned, the study helps to find out the various buying motives of Hyundai i10 customers in Calicut. It will also help the company to know more about their customers.
It is hoped that the analysis will help the company to develop marketing strategy and achieve the major objective from that.
Bineshkumar C S
6
Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
1.6 RESEARCH METHODOLOGY RESEARCH DESIGN A research design is a logical and systematic plan prepared for directing a research study. It is the program that guides the investigator in the process of collecting, analyzing and interpreting observations.
Here descriptive research design is used for analyzing buying motive of Hyundai i10 cars. It is very simple and more specific than exploratory study.
The descriptive study is a fact finding investigation with adequate interpretation. The descriptive study aims at identifying the various characteristics of a problem under study. It reveals potential relationships between variables and also setting the stage for further investigation later. SAMPLING TECHNIQUE A part of the population is known as sample. The process of drawing sample from a population is known as a sampling.
Non probability sampling It is not based on the theory of probability. It does not provide a chance of selection each population element. The merit of this type sampling is simplicity, convenience and low cost.
Convenience sampling is the sampling technique used here. In this sampling we select whatever sampling unit is conveniently available. It lays groundwork for subsequent probability sampling.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
SAMPLE SIZE The researcher has to select a relevant fraction of the population, which is a representative of the entire population. The sampling size will be small in the case of the descriptive study where less than 1 percent is sufficient to provide reliable results. Here the sample size is 50 samples and it is limited to the area of Calicut District
COLLECTION OF DATA Data Sources In this stage, there is a need to gather primary as well as secondary data. Primary data are collected on original information gathered for a specific purpose either through personnel interviews / questionnaires etc. Secondary data is collected from already existing sources in various organization brochures and records.
Primary Data The present study has used survey method for collecting the primary data by directly interviewing customers with questionnaire.
Secondary Data Secondary data for the study were collected from the library reference, technical and subject based books, journals and magazines, websites and other previous studies
Tool for Data collection A well structured questionnaire was used to collect the primary data from the customers. The customers were given multiple choices to select their particular answers. A copy of the questionnaire is enclosed in the annexure.
Type of Questions The questions that have been used in preparing the questionnaire were:
Dichotomous questions
Multiple choice questions
Period of Study The study was carried out for a period of 15 days from 17th November to 3rd December 2008. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
1.7 LIMITATIONS OF THE STUDY
1. The study was confined to only Calicut district. Therefore the results cannot be generalized. 2. Customers were reluctant to answer certain questions. 3. The result generated out of the study is completely dependent on the nature of the response given by the customers. 4. Short span of time was a limiting factor. 5. Customer satisfaction varies from time to time. It will not remain constant.
Despite these limitations, a sincere attempt has been made to collect and analyze the data and present the information as accurately as possible.
Bineshkumar C S
9
Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Chapter 3 Industry profile
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
INDUSTRY PROFILE
A well developed transport network indicates a well developed economy. For rapid development a well-developed and well-knit transportation system is essential. As India's transport network is developing at a fast pace, Indian Automobile Industry is growing too. Also, the Automobile industry has strong backward and forward linkages and hence provides employment to a large section of the population. Thus the role of Automobile Industry cannot be overlooked in Indian Economy. All kinds of vehicles are produced by the Automobile Industry. The automobile industry in India—the tenth largest in the world with an annual production of approximately 2 million units—is expected to become one of the major global automotive industries in the coming years. A number of domestic companies produce automobiles in India and the growing presence of multinational investment, too, has led to an increase in overall growth. Following the economic reforms of 1991 the Indian automotive industry has demonstrated sustained growth as a result of increased competitiveness and relaxed restrictions.
India Automobile Industry includes the manufacture of trucks, buses, passenger cars, defence vehicles, two-wheelers, etc. The industry can be broadly divided into the Car manufacturing, two-wheeler manufacturing and heavy vehicle manufacturing units. The major Car manufacturers are, 1. Hindustan Motors 2. Maruti Udyog, 3. Fiat India Private Ltd 4. Ford India Ltd 5. General Motors India Pvt. Ltd 6. Honda Siel Cars India Ltd 7. Hyundai Motors India Ltd 8. Skoda India Private Ltd 9. Toyota Kirloskar Motor Ltd Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car The two-wheeler manufacturing is dominated by companies like TVS, Honda Motorcycle & Scooter India (Pvt.) Ltd., Hero Honda, Yamaha, Bajaj, etc. The heavy motors like buses, trucks, defense vehicles, auto rickshaws and other multiutility vehicles are manufactured by Tata-Telco, Ashok Leyland, Eicher Motors, Bajaj, Mahindra and Mahindra,etc. Following India‘s growing openness, the arrival of new and existing models, easy availability of finance at relatively low rate of interest and price discounts offered by the dealers and manufacturers all have stirred the demand for vehicles and a strong growth of the Indian automobile industry
Small Car Market in India The small car market in India is increasing by leaps and bounds. The indigenous market for small cars now occupies a substantial share of around 70% of the annual car production in India of about one million. The main players in the car market like Tata Motors and Maruti Udyog are fiercely competitive and more or less all the automobile companies in India that have forayed into the production of small cars are trying to out-do each other in terms of design, innovation, pricing, and technology, in order to gain control of the small car market in India.
The biggest players in the Indian small car market are engaging in a healthy competition, which has intensified since the Indian government decided to boost the small car sector. In this regard, a reduction in the excise duties has been thought of. Even the engine capacities are expected to be raised to 1500cc. The new small cars in India cars may even be fueled by gasoline and diesel in the future. With all these facilities, it has been estimated that the indigenous car market is going to move beyond the 3.5 million mark very soon.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Chapter 3 Company profile
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Organization profile Kerala Transport Company (KTC) Kerala Transport Company made a humble beginning in the year 1958. From there its growth to the KTC Group, one of the biggest business houses is simply astounding and marvelous. The Group‘s turnover exceeds Rs.300 crores and its contribution to the various fields of its activities are widely appreciated and acclaimed. Kerala Transport Company is the flagship of the KTC group, one of the reputed business houses in the forefront. KTC Automotive group with following establishments 1. Dealers for Hyundai cars 2. Mitsubishi Lancer cars 3. Ford cars 4. Mahindra and Mahindra vehicles 5. Honda Scooters and Motor cycles 6. Automotive Management Academy I. II.
Cinema – Production, Distribution, Exhibition Super Specialty Hospital
III.
Property Development
IV.
Plantations
V.
Print Media
VI. VII. VIII. IX. X.
Educational institutions Custom house agents Food processing Dealership of Indian Oil Company and Hindustan Petroleum ( Fuel Outlets ) C and F Agents for various products The corporate office of KTC group is at KTC House, YMCA Road, Calicut. The
Chairman is Mr. PV. Chandran. Mr. PV. Gangadharan and Mr.PV. Nidhish are the Directors. They provide employment to over 4,000 people directly and more than 10,000 indirectly. The turnover exceeds Rs. 600 crore.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
KTC Hyundai KTC Automobiles (P) Ltd is the authorized dealer for Hyundai Motor India Ltd in North Kerala. The company has two main dealerships in Calicut & Thrissur.They have service centres in Kannur,Malappuram,Kasaragod,Palakkad and Kodungallur also.KTC Hyundai is part of the KTC Automotive group which consist of franchisee dealerships of HM-Mitsubishi, Ford India, Honda Scooters, Mahindra three wheelers and manage a professional training institute know as the Automotive Management Academy.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Hyundai Motor India Limited (HMIL) Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company, South Korea and is the second largest and the fastest growing car manufacturer in India. HMIL presently markets 34 variants of passenger cars in six segments. The Santro in the B segment, Getz Prime, i10 in the B+ segment, the Accent and Verna in the C segment, the Elantra in the D segment, the Sonata Embera in the E segment and the Tucson in the SUV segment. Hyundai Motor India, continuing its tradition of being the fastest growing passenger car manufacturer, registered total sales of 299,513 vehicles in calendar year (CY) 2006, an increase of 18.5 percent over CY 2005. In the domestic market it clocked a growth of 19.1 percent a compared to 2005, with 186,174 units, while overseas sales grew by 17.4 percent, with exports of 113,339 units. HMIL‘s fully integrated state-of-the-art manufacturing plant near Chennai boasts some of the most advanced production, quality and testing capabilities in the country. In continuation of its investment in providing the Indian customer global technology, HMIL is setting up its second plant, which will produce an additional 300,000 units per annum, raising HMIL‘s total production capacity to 600,000 units per annum by end of 2007. HMIL is investing to expand capacity in line with its positioning as HMC‘s global export hub for Hyundai Motor India attain other milestones such as the launch of the Verna and yet another pathbreaking record in its young journey by rolling out the fastest 10,00,000th car. The Hyundai Verna has bagged some of the most prestigious awards starting with the title of "Car of the Year 2007" by India's leading automotive publication – Overdrive, the ―Best Mid-size Car of the Year‖ award by the NDTV Profit C&B Awards 2007, the ―Best Value for Money Car‖ by the CNBC Autocar Auto awards and ‗Performance Car of the Year 2007‘ from Business Standard Motoring. Last Year Sonata Embera won the ‗Executive Car of The Year 2006‘ award from Business Standard Motoring Magazine and NDTV Profit – Car & Bike declared the Tucson as the ‗SUV of The Year 2006
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
PRODUCT PROFILE 3.1
Hyundai i10 The irresistible i10 is fully equipped and is tailor made for the city. It is the proud owner of the longest wheelbase and three rear seats. You can pack your i10 car with a lot more. The i10 is streetwise, chilly and spacious for the city rides too. The air condition comes across as standard and has front and front side airbags with a fully integrated audio system. The i10 features a unique centre console mounted gear shift. The i-shift transmission takes away the stress from the arm in case of long drives. Simultaneously, it renders greater legroom for the passengers who are in the front seats. The i10 has a number of safety features. The dual air bags provide ample cushioning in case of accidents. The flexible membrane covers the passengers. The anti-lock braking system (ABS) helps to prevent the locking up of the wheel during sudden brakes thus avoiding skidding while retaining car stability and steer ability.
The multi-reflector clear glass fog lamp is another feature that ensures maximum visibility even in adverse weather conditions. The clear rear combination lamp is a sleek, elongated feature that helps in improved visibility for trailing vehicles. The instrument cluster has many warning lamps like low fuel warning lamp, seat belt warning lamp, door and tail gate ajar warning lamp, MDPS warning lamp, ABS warning lamp and air bag warning lamp. This is in order to ensure that the driver is aware of all the conditions of the car at all times, ensuring-safety. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
The seat belt is one of the major safety measures in all cars. It contains an electronically controlled retractor called pretensioner. The i10 measures a diminutive 3565mm long, 1595mm wide and it has a 2380mm wheelbase. These dimensions mean it will be targeted primarily at the Asian and Euro markets, where demand for baby cars is booming. Motive power for the i10 comes from a 1.1-litre engine with a towering 49kW, and there's also a 1.2-litre turbo-diesel unit. The i10 will be one the better equipped baby cars originating from an Indian factory as standard kit across the range includes air-con, front power windows, central locking, power steering, alloy wheels, body-coloured bumpers and a CD player. In Europe, the i10 will lock horns with the likes of the Toyota Aygo/Citroen C1/Peugeot 107 triplets, although it's slightly larger than this trio. The i10 is the second car (after the i30) to feature Hyundai's 'i'-prefixed naming protocol, and still to come are the i20 (which will replace the Getz), i40 (Sonata replacement) and i50 (Grandeur replacement). Although undoubtedly inspired by Apple's iPod, Hyundai's new naming strategy is also conceivably a ploy to mimic the alphanumeric model designations of Euro carmakers such as Mercedes-Benz and Volvo.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Chapter 4 Conceptual Framework
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
CONCEPTUAL FRAMEWORK Introduction to buying motives Consumer or buyer is the central figure of all marketing activities. It is the consumer who determines the growth, prosperity and even existence of a business enterprise. Hence the marketer should always feel the pulse of customers. In order to understand the pulse of the customers, the marketer needs to understand fully the working of buyers mind. It helps him to plan his production and distribution to suit to the needs and convenience of customers‘ .It also helps him to plan suitable marketing strategies. Thus it is very essential for every marketer to know his customers buying motives. Buying motives Motive is a strong feeling, instinct, desire or emotion that makes a person to do something. When a motive makes a person to buy a product, then it becomes a buying motive. Thus buying motive means the influence and considerations which makes a customer to buy a particular product. According to D.J.Duncan, ―buying motives are those influences or considerations which provide the impulse to buy, induce action or determine choice in the purchase of goods and services‖. Buying motives are mainly two types, manifest motives and latent motives. Manifest motives are those motives which are known to the customer and also ready to admit them. But on the other hand latent motives are either known to the customer. Buying motive can also be calculated as follows 1. Product or patronage motives 2. Emotional and rational motives 3. Inherent and learned motives Product and patronage motives a. Product motives: it refers to those influences and reasons which make the consumer to buy a certain product in preference to another. These explain why people buy a certain product. Product are of two types: i.
Primary product motives: These motives induce a consumer to purchase general class of the product. These motives relate to the basic needs of people like hunger, thirst, sleep
ii.
Selective product motives: these motives determine which particular brand or item will be purchased from the general class
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car b. Patronage motives: these are the motives which determine where or from whom products are purchased. These are the considerations which induce a buyer to buy goods from specific stores. Following are the key patronage motives: i. ii. iii. iv. v. vi.
Price Location Quality Variety Services Personality of the owner or salesman
Emotional or Rational motives A. Emotional motives: these are the motives which are affected by the feeling of heart. Thus, emotional motives are physiological and psychological needs such as thirst , hunger, sex attraction etc. The emotional motives are of the following types; i. ii. iii. iv. v. vi. vii. viii.
Sex or romance Love of others Social acceptance motive Vanity motive Recreation and relaxation motive Curiosity motive Emulative motive Comfort and convenience motive
B. Rational motives: these are the motives where a consumer takes the decision of purchasing a product by his head and means i.e., after careful consideration and logical thinking. In making rational purchases, the consumer considers price, durability, dependability, efficiency etc. Rational motives are of the following types: i. ii. iii.
Monetary gain Efficiency in operation Dependability motive
Inherent and Learned motives A. Inherent motives: these are the motives for the satisfaction of which a consumer his best efforts and if these motives are not satisfied he feels mental tension. B. Learned motives: these are the motive which are acquired or learned by a consumer from the environment and education. These motives are social status, social acceptance, religious belief, fear, security etc.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Chapter 5 Analysis and interpretation
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
5.1
INTRODUCTION TO THE ANALYSIS AND INTERPRETATION
The data was collected through questionnaires from 50 i10 customers. The collected data are going to get analyzed here by using tables and charts like pie charts and bar diagrams. Further, the inferences are been made from the collected data.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
5.2
ANALYSIS AND INTERPRETATION TABLE: 1 INFLUENCE OF AGE ON BUYING DECISION
Description: Table shows the different age class of customers and its influence on buying decision of Hyundai i10
AGE GROUP
NO.OF RESPONDENTS
PERCENTAGE
20-30
6
12%
30-40
21
42%
40-50
18
36%
50-60
5
10%
50
100%
TOTAL Source: Survey data
CHART: 1 INFLUENCE OF AGE ON BUYING BEHAVIOR Description: Chart shows the different age class of customers and its influence on buying decision of Hyundai i10
Interpretation: The above table shows that majority (42%) of customers falling under the age group of 30-40.The next major category was 40-50 (36%).the age group 20-30 and 50-60 were 3rd and 4threspectively.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 2 INFLUENCE OF OCCUPATION ON BUYING DECISION Description: Table shows the different occupation of customers and its influence on buying decision of Hyundai i10.
TYPES OF JOB
NO.OF RESPONDENTS
PERCENTAGE
Professionals
24
48%
Government employees
6
12%
NRI's
11
22%
Businessman
9
18%
TOTAL
50
100%
Source: Survey data
CHART: 2 INFLUENCE OF OCCUPATION ON BUYING DECISION Description: Chart shows the different occupations of customers and its influence on buying decision of Hyundai i10.
Interpretation: From the above chart it can be found that the 48% customers are professionals, 22% were NRI‘s, 18% were businessman and balance 12% were government employees. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 3 DURATION OF USAGE Description: Table shows the duration of usage of i10 by the customers Usage
No of respondents
Percentage
below 3
17
34%
3-6 months
18
36%
6-9 months
12
24%
9 & above
3
6%
Total
50
100%
Source: Survey data CHART: 3 DURATION OF USAGE Description: Chart shows the duration of usage of i10 by the customers
Interpretation: From the above chart it can be found that the duration of usage of cars between 3-6 months were 36% and between 6-9 months were 34%. 24% of the customers were using the car for a period less than three months. The balance 6% was using it for more than nine months. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 4
PURCHASING PATTERN OF HYUNDAI Description: Table shows the customers who have previous experience with Hyundai.
RESPONSE
NO.OF RESPONDANTS
PERCENTAGE
Yes
6
12%
No
44
88%
50
100%
TOTAL Source: Survey data
CHART: 4
PURCHASING PATTERN OF HYUNDAI Description: Chart shows the customers who have previous experience with Hyundai.
Interpretation: From the above chart it can be found that 88% of the customers have no previous experience with Hyundai. The balance 12% has experience with Hyundai.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 5
SOURCES OF INFORMATION Description: Table shows the sources from which the customers get information about their purchase. SOURCES
NO. OF RESPONDENTS
PERCENTAGE
Television
22
44%
Newspaper
3
6%
Personnel sources
6
12%
Product demos
2
4%
sales representatives
5
10%
Experienced users
12
24%
TOTAL Source: Survey data
50
100%
CHART:5
SOURCES OF INFORMATION Description: The chart shows the sources from which the customers get information about their purchase.
Interpretation: From the above chart it can be found that 44% were influenced by the TV advertisement. 24 % influenced by experienced users, 12% were influenced by Personal sources and 10% were influenced by sales representatives. News paper and product demos were influenced by 6% and 4% respectively. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 6
GENERAL FACTORS INFLUENCING PURCHASE DECISION
No of respondents
Score
No of respondents
Score
No of respondents
Score
No of respondents
Score
No of respondents
Score
Total Number of respondents
Total score
Description: Table shows the general factors influencing buying behavior of customers.
Style
10
50
4
16
11
33
19
38
6
6
50
143
Comfort
18
90
15
60
13
39
4
8
0
0
50
197
Mileage
15
75
18
72
6
18
8
16
3
3
50
184
Price
7
35
13
52
15
45
12
24
3
3
50
159
Color
0
0
0
0
5
15
7
14
38
38
50
67
Rank 1
Features
Rank2
Rank 3
Source: Survey data
Bineshkumar C S
Rank4
Rank 5
Rank (5-1)
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
CHART: 6
GENERAL FACTORS INFLUENCING PURCHASE DECISION Description: Chart shows the general factors influencing buying behavior of customers.
Interpretation: The above table shows that most of the customers rates comfort as the most important factor for purchasing a car, then comes mileage, style and price respectively. Color is not having that much influence on buying decision..
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(i)
CUSTOMERS OPINION ON STYLE Description: Table shows the customers opinion about style and its influence on buying decision of Hyundai i10. LEVEL
NO OF RESPONDANTS
PERCENTAGE
Highly influenced
17
34%
Influenced
32
64%
Less influenced
1
2%
TOTAL Source: Survey data
50
100%
CHART: 7(i)
CUSTOMERS OPINION ON STYLE Description: Chart shows the customers opinion about style and its influence on buying decision of Hyundai i10.
Interpretation: From the above table we can see that, 34% customers were highly influenced and 64 % were influenced by the style of Hyundai i10 while making their purchase decision. The rest 2% were not influenced by the style.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7 (ii)
CUSTOMERS OPINION ABOUT COMFORT Description: Table shows the influence of comfort on buying decision of customers. LEVEL OF INFLUENCE
NO. OF RESPONDENTS
PERCENTAGE
Highly influenced
35
70%
Influenced
15
30%
Not influenced
0
0%
50
100%
TOTAL Source: Survey data
CHART: 7(ii)
CUSTOMERS OPINION ABOUT COMFORT Description: Chart shows the influence of comfort on buying decision of customers.
Interpretation: The above chart shows that 70 % customers were highly influenced and 30% were influenced by the comfort and convenience while making purchase decision of Hyundai i10.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(iii)
CUSTOMERS OPINION ABOUT MILEAGE Description: Table shows how mileage influences the buying decision of customers. FORM OF INFLUENCE
NO OF RESPONDANTS
PERCENTAGE
Highly influenced
31
62%
influenced
19
38%
Not influenced
0
0%
50
100%
TOTAL Source: Survey data
CHART: 7(iii)
CUSTOMERS OPINION ABOUT MILEAGE Description: Chart shows how mileage influences the buying decision of customers.
Interpretation: The table above shows that 62% customers were highly influenced by the mileage of Hyundai i10 while making their final decision. The remaining 38 % were somewhat influenced by the mileage Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(iv)
CUSTOMERS OPINION ABOUT PRICE Description: Table shows that how price influence the buying decision of customers.
LEVEL OF INFLUENCE
NO OF RESPONDENTS
PERCENTAGE
Highly influenced
21
42%
Influenced
24
48%
Not influenced
5
10%
50
100%
TOTAL Source: Survey data
CHART: 7(iv)
CUSTOMERS OPINION ABOUT PRICE Description: Chart shows how price influence the buying decision of customers
Interpretation: The chart above shows that 48 % customers were influenced and 42% were highly influenced by the price of Hyundai i10 while making their purchase decision. The remaining 10% were not influenced by the price
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(v)
CUSTOMERS OPINION ABOUT COLOUR Description: Table shows how colour influences the buying decision of customers LEVEL OF INFLUENCE
NO OF RESPONDENTS
PERCENTAGE
Highly influenced
6
12%
Influenced
30
60%
Not influenced
14
28%
50
100%
Total Source: Survey data
CHART: 7(v)
CUSTOMERS OPINION ABOUT COLOUR Description: Chart shows how colour influences the buying decision of customers
Interpretation: From the above chart it can be found that 60% were influenced and 28% were highly influenced by the colour of Hyundai i10. Remaining 12% were not influenced by the colour. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(vi)
CUSTOMERS OPINION ABOUT PRODUCT FEATURES Description: Table shows how product features influence buying decision of customers.
LEVEL OF INFLUENCE
NO. OF RESPONDENTS
PERCENTAGE
Highly influenced
7
14%
Influenced
41
82%
Not influenced
2
4%
TOTAL Source: Survey data
50
100%
CHART: 7(vi)
CUSTOMERS OPINION ABOUT PRODUCT FEATURES Description: Chart shows how product features influence buying decision of customers.
Interpretation: From the above table we can see that 82% customers were influenced and 14% were highly influenced by the product features of Hyundai i10. 4% was not influenced by the product features. Bineshkumar C S
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TABLE: 7(vii)
CUSTOMERS OPINION ABOUT TECHNOLOGY Description: Table shows how the technology influences the buying decision of customers. Level of influence
No of respondents
Percentage
Highly influenced
14
28%
Influenced
33
66%
Not influenced
3
6%
50
100%
Total Source: Survey data
CHART: 7(vii)
CUSTOMERS OPINION ABOUT TECHNOLOGY Description: Chart shows how the technology influences the buying decision of customers.
Interpretation: The above table shows that 14% customers were highly influenced and 33% customers highly influenced by the technology of i10. Remaining 3% was not influenced by the technology. Bineshkumar C S
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TABLE: 7(viii)
CUSTOMERS OPINION ABOUT SAFETY Description: Table shows how safety influences the buying decision of the Hyundai i10 customers.
LEVEL OF INFLUENCE
NO OF RESPONDENTS
PERCENTAGE
Highly influenced
18
36%
Influenced
29
58%
Not influenced
3
6%
50
100%
Total Source: Survey data
CHART: 7(viii)
CUSTOMERS OPINION ABOUT SAFETY Description: Chart shows how safety influences the buying decision of the Hyundai i10 customers.
Interpretation: The above table shows that 36% customers were highly influenced and 36 % were influenced by the safety of Hyundai i10. Balance 6% was not influenced by the safety. Bineshkumar C S
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TABLE: 8 OPINION OF CUSTOMERS ABOUT PARTS & SERVICE AVAILABILITY Description: Table shows how parts and service availability influences the buying decision of Hyundai i10. LEVEL OF INFLUENCE
NO OF RESPONDENTS
PERCENTAGE
Highly influenced
16
32%
Influenced
13
26%
Neutral
14
28%
Less influenced
6
12%
Not influenced
1
2%
50
100%
Total Source: Survey data
CHART: 8 OPINION OF CUSTOMERS ABOUT PARTS & SERVICE AVAILABILITY Description: Chart shows how parts and service availability influence the buying decision of Hyundai i10.
Interpretation: The above chart shows that 32% customers were highly influenced and 26% are influenced by parts and service availability. 28% remains neutral. 12% were less influenced and balance 2% was not influenced by the parts and service availability of Hyundai i10. Bineshkumar C S
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TABLE: 9 CUSTOMERS OPINION ABOUT BRAND IMAGE OF HYUNDAI Description: Table shows the opinion of customers regarding the brand image of Hyundai.
RESPONSE
NO OF RESPONDENTS
PERCENTAGE
Yes
31
62%
No
19
38%
Total Source: Survey data
50
100%
CHART: 9 CUSTOMERS OPINION ABOUT BRAND IMAGE OF HYUNDAI Description: Chart shows the opinion of customers regarding the brand image of Hyundai.
Interpretation: The chart above shows that 62% of customers were influenced by the brand image Hyundai while making their buying decision of Hyundai i10. 38% respondents were not influenced by the brand image of Hyundai.
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TABLE 10 CUSTOMERS OPINION ON CELEBRITY ADVERTISEMENTS Description: The table shows the opinion of customers on celebrity advertisements and its influence on buying decision of Hyundai i10. LEVEL OF INFLUENCE
NO. OF RESPONDENTS
PERCENTAGE
Highly influenced
8
16%
Somewhat influenced
15
30%
Neutral
21
42%
Less influenced
0
0%
Not influenced
6
12%
50
100%
TOTAL Source: Survey data
CHART 10 CUSTOMERS OPINION ON CELEBRITY ADVERTISEMENTS Description: The chart shows the opinion of customers about celebrity advertisements and its influence on buying decision of Hyundai i10
Interpretation: The chart above shows that 16 % customers were highly influenced and 30% were somewhat influenced by the celebrity advertisements. 42% customers were neutral towards celebrity advertisements.
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TABLE: 11 PURPOSE OF BUYING Description: Table shows the customers purpose of the car and its influence on buying decision of Hyundai i10
PURPOSE
NO OF RESPONDENTS
PERCENTAGE
Official
2
4%
Personal
48
96%
Total Source: Survey data
50
100%
CHART: 11 PURPOSE OF BUYING Description: Chart shows the customers purpose of buying the car and its influence on buying decision of Hyundai i10.
Interpretation: The chart shows that 96% customers using their car for personal purposes. The remaining 4% were using it for official purposes. Bineshkumar C S
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TABLE 12 INFLUENCE OF REFERENCE GROUP ON BUYING DECISION Description: Table shows how the customers being influenced by family, friends, colleagues and others.
SOURCES
NO.OF RESPONDENTS
PERCENTAGE
Family
24
48%
Friends & relatives
18
36%
Colleagues
7
14%
Others
1
2%
50
100%
Total Source: survey data
CHART 12 INFLUENCE OF REFERENCE GROUP ON BUYING DECISION Description: Table shows how the customers being influenced by family, friends, colleagues and others.
Interpretation: The chart above shows that 48% of the customers were influenced by family. 36% were influenced by friends, 14% were influenced by colleagues and the remaining 2% were influenced by other factors.
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TABLE 13 PERSONAL INFLUENCE ON BUYING DECISION Description: The table shows personal influence on the decision regarding the purchase of Hyundai i10.
ATTRIBUTE
NO. OF RESPONDENTS
PERCENTAGE
Self
19
38%
Spouse
3
6%
Children
3
6%
Collectively
25
50%
50
100%
TOTAL Source: Survey Data
CHART 13 PERSONAL INFLUENCE ON BUYING DECISION Description: The chart shows personal influence on the decision regarding the purchase of Hyundai i10.
Interpretation: The above table shows that most of the customers purchasing car through a collective decision i.e., 50%.another 35 % take their own decisions
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TABLE 14 CUSTOMERS CHOICE OF DEALERS Description: The table shows customers opinion about their respective dealers.
DEALERS
NO. OF RESPONDENTS
PERCENTAGE
KTC
23
46%
APCO
27
54%
50
100%
TOTAL Source: Survey Data
CHART 14 CUSTOMERS CHOICE OF DEALERS Description: The chart shows customers choice of different dealers.
Interpretation: The above charts shows that 54% of the customers are APCO customers and 46% are KTC customers.
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TABLE 15 OPINION OF CUSTOMERS REGARDING CHOICE OF DEALERS Description: The table shows the customers rating of service quality, accessibility, brand loyalty and customer relationship of dealers
FACTORS
NO. OF RESPONDENTS
PERCENTAGE
Service quality
21
42%
Accessibility
7
14%
Brand Loyalty
14
28%
Customer Relationship
8
16%
50
100%
TOTAL Source: Survey data
CHART 15 OPINION OF CUSTOMERS REGARDING CHOICE OF DEALERS Description: The table shows the customers rating of service quality, accessibility, brand loyalty and customer relationship of dealers
Interpretation: The chart above shows that 42% people were influenced by service quality of dealers. 28% were given their importance to brand loyalty.16% were influenced by the customer relationship of dealers and the rest 14% were influenced by acce
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TABLE 16 CUSTOMERS OPINION ABOUT RECOMENDATIONS Description: The table shows customers preference for recommendations of i10.
COMMENT
NO. OF RESPONDENTS
PERCENTAGE
Yes
42
84%
No
8
16%
Total Source: Survey data
50
100%
CHART 16 CUSTOMERS OPINION ABOUT RECOMENDATIONS Description: The table shows customers preference for recommendations of i10
Interpretation: The chart above shows that 84% customers prefer to recommend i10 to others. Remaining 16% were not interested in recommendations.
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TABLE 17 OVERALL SATISFACTION LEVEL OF CUSTOMERS Description: The table shows the overall satisfaction of customers regarding Hyundai i10 NO OF RESPONDENTS
PERCENTAGE
Highly satisfied
32
64%
Somewhat satisfied
11
22%
Neither satisfied nor dissatisfied
6
12%
Somewhat dissatisfied
1
2%
Dissatisfied
0
0%
50
100%
LEVEL OF SATISFACTION
TOTAL Source: Sample Data
CHART17 OVERALL SATISFACTION LEVEL OF CUSTOMERS Description: The chart shows overall satisfaction level of customers of Hyundai i10.
Interpretation: The chart above shows that 64% of the customers were highly satisfied with the performance of the car.22% was somewhat satisfied with the performance of i10. 12 % was neither satisfied nor dissatisfied with the performance of i10. Bineshkumar C S
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5.3
CONCLUSION
The collected data has been analyzed and interpreted here. Tables and charts have been used to make the data more clear. Charts like pie charts and bar diagrams have been used. Further, inferences have been made from the collected data.
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Chapter 6 Conclusion
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6.1
SUMMARY TO THE CONCLUSION
The study has been designed to know the BUYING MOTIVE OF Hyundai i10 car with special reference to KTC Hyundai, Calicut. The study reveals that majority of the customers attracted to the comfort and mileage of i10. .
The study contains the following chapters: Chapter 1 contains:
Introduction to the study, which says about the project topic, objective of the study, the research design used area and population of the study, etc.
Research problem, i.e., to find the buying motive of Hyundai i10 car with special reference to KTC Hyundai, Calicut.
Research Methodology, which gives theoretical description about the research design, sampling technique, sample size, data collection method and period of study.
Objectives of the study are all about the primary and secondary objectives.
Need and scope of the study, and
Limitations of the study.
Chapter 2contains theoretical framework about buying motive of Hyundai i10. Chapter 3 contains the industry profile, i.e., about the automobile industry. Chapter 4 contains the company profile which is about KTC Hyundai, Calicut in which the study has been conducted. Chapter 5 contains analysis and interpretation in which an introduction to the analysis has been given followed by the diagrammatic representation of the data and the conclusion to the analysis.
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6.2 FINDINGS The study finds that majority of the customers were highly influenced by the comfort of the car. In the case sales promotion activities, it is finds that T.V. Advertisement is having high influence on customers compared to other factors. It is important to note that experienced customers are one of the important influencing factors behind a number of purchases. Following are the other important findings of the study, Age: Majority of the customers falling under the age group of 30-40 Occupation: Majority of the users are professionals such as doctors, engineers etc.. Duration of usage: Most of the customers made their purchase between last six months. There is a fast movement in the sale of i10 cars within the last 6 months i.e., public opinion about the car is increasing and it‘s in turn act as a buying motive. Buying preference: Majority of the customers prefer comfort as an important factor while making the purchase decision of a car. Style: Most of the customers (64%) were influenced by the style of the car. Comfort: Most of the customers were influenced by the comfort of the car. Mileage: Majority of the customers prefer mileage as an important influencing factor. Price: Most of the customers were influenced by the price of the car. Product features: Most of the customers were influenced by the product features of Hyundai i10. Technology: 66% customers were influence by the technology of i10. Safety: 60% of the customers were influenced by the safety of i10.
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Parts and service availability: Most of the customers (58%) were influenced by the parts and service availability of Hyundai i10. Brand perception of customers: Most of the customers (62%) were influenced by the brand image of Hyundai. Purpose of Buying: Majority of the customers (98%) were purchased their car for personal purposes Purchase Decision: Majority of the customers made their decision collectively i.e., it has got that much family acceptance. Advertisement: Majority of the customers were influenced by the TV advertisements. Experienced Users: It is very important note that experienced customers become an important influencing factor behind a number of purchases. Factors influencing Choice of dealers: Customers have high preference on service quality of dealers and it also act as an important influencing factor while they make their purchase decision. Customer satisfaction: Majority of the customers (92%) were highly satisfied about the performance of the car. Recommendations Majority of customers like to recommend i10 to others. It indirectly reflected that they are all satisfied with the performance of Hyundai i10.
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6.3 SUGGESTIONS The company can try to improve the service quality of Hyundai i10 because most of the customers have the opinion that service quality of KTC regarding i10 is low as compared to other Hyundai brands. It will adversely affect the public opinion regarding KTC. The company can also to improve the morality of existing customers because existing customers are one of the important influencing factors. Company can give Offers & Schemes to attract customers. The company can arrange more product demos in crowded places.
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6.4
CONCLUSION
The project entitled ―the study on buying motive of Hyundai i10 car with special reference to KTC Hyundai‖ undertaken by the researcher on behalf of the KTC Hyundai Automobiles, Calicut would help the dealer to know about the various drives of customers that motivate them to purchase Hyundai i10. The company can design proper marketing strategies from these findings.
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Appendix
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BIBLIOGRAPHY Books
Marketing management – Philip Kotler, Tenth Edition, Prentice Hall India
Methodology of research in social sciences – Dr. O.R. Krishnaswami & Dr. M. Ranganatham, First Edition, Himalaya Publishing House.
Consumer Behavior- Leon G. Schiffman and Leslie Lazar Kanuk, Ninth Edition, Pearson Education.
Consumer Behavior- Hawkins, Best and Coney, Eighth Edition, Tata McGraw-Hill.
Websites www.google.com www.hyundai.co.in www.automobileindia.co.in www.ktchyundai.com
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QUESTIONNAIRE Subject: A study on buying motives of Hyundai i10 cars with special reference to KTC Hyundai This study is conducted as part of requirements of MBA Degree under University of Calicut. The information provided by you will be kept confidential and used purely for academic purposes.
Name
: --------------------------------------
Location
: --------------------------------------
Age
: --------------------------------------
Sex
: -------------------------------------
Occupation
: ---------------------------------------
1.
2.
How long you have been using this car? Below 3 months
3 – 6 months
6 – 9 months
9 months & above
Have you been using any cars of Hyundai before? Yes
No
If yes, specify ----------------------
3.
Which one of the following provided you with most significant information for making your purchase decision?
4.
TV advertisements
Newspapers & magazines advertisements
Online Sources
Product Demos
Sales representatives
experienced users
Rank in the order of your preference to buy a car (in the order 1-5) Style
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Mileage 58
Price
Colour
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5.
Rate the factors that influence your decisions to buy the i10 car Highly influenced
Influenced
Not influenced
Style Comfort Mileage Price Colour Product features Technology Safety 6.
7.
How far the availability of service and spare parts influenced your choice? Highly influenced
Influenced
Less influenced
Not influenced
Does the Brand image of Hyundai have any influence on your buying decision of i10? Yes
8.
9.
Neutral
No
How far celebrity advertisements influence your buying decision? Highly influenced
Somewhat Influenced
Less influenced
Not influenced
Neutral
For which purpose you use this car? Official
Personal
10. Who influenced you to buy i10? Family
Friends & relatives
Colleagues
Others (specify)
11. Who make the decision to buy i10? Self
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Children
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12. From which dealer you bought i10? ----------------------------------------------------13. What factor makes you to purchase it from the above dealer? Loyalty
Service Quality
Accessibility
Brand image
14. Would you recommend i10 to others? Yes
No
If yes specify the details-------------------------------------------------------------------------------------------------------------------------------------------------------15. What is the overall satisfaction level of i10? Very satisfied
Somewhat satisfied
Somewhat dissatisfied
Very dissatisfied
Neutral
Suggestions, if any-----------------------------------------------------------------------------------------------------------------------------------------------------------------
THANK YOU FOR YOUR CO-OPERATION
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Chapter 1 Introduction
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1.1 INTRODUCTION TO THE STUDY The study makes an attempt to identify the buying motive of Hyundai i10 car with special reference to KTC Hyundai, Calicut. The primary objective of the study was to find out the various drives that motivate customers to buy Hyundai i10 car.
The research design chosen for the study was descriptive research study. The population for the study is the valuable customers from Calicut districts of Hyundai i10 car. The sample size for the study was 50 and the technique was convenience sampling.
The findings reveal that the majority of the customers were influenced by the comfort of the Hyundai i10 car. There are also some suggestions for motivating customers to buy Hyundai i10.
It is hoped that the study will definitely help to accomplish the need for knowing more about the customer there by it helps the company to develop marketing strategies and achieve the major objective from that.
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1.2 RESEARCH PROBLEM . The company wants to know more about the drives of customers that motivate them to purchase Hyundai i10. It‘s very important for every marketer to know about the buying motives of the customers because it helps them to design proper policies and programs to attract customers. It also helps them to determine their advertisement budget and also to plan various sales promotion measures.
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1.3 SIGNIFICANCE OF THE STUDY The study of buying motives is very important in framing price policies, product policies, and distribution policies and also in designing the sales promotion programmes. It is important for the marketers to understand the buyer motives due to the following reasons.
1.
It is helpful in understanding the buying motives and preferences of different customers. This enables the marketer to design appropriate marketing strategies.
2. It helps to plan and modify products according to the taste and preference of customers. 3. It is also helpful in framing suitable pricing policies. 4. It is also helps in determining advertising budget. 5. It helps in planning and designing sales promotion strategies.
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1.4 OBJECTIVES OF THE STUDY Primary objective: To find out various drives that motivates customers to buy Hyundai i10 car.
Secondary objectives: To find out advertisement effectiveness of Hyundai i10 car. To know the satisfaction level of customers To know which class of customers is using Hyundai i10. To know more about the overall experience of customers about their dealers.
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1.5 SCOPE OF THE STUDY
Today the existence of an organization depends on its ability to understand the customers and producing and delivering products or services according to those needs.
This project indented to find out the buying motives of Hyundai i10 car with special reference to KTC Hyundai. This study will help the company to redesign their marketing strategies such as product design, sales promotion activities etc. so as to the meet the needs of customers.
As per the scope of the study is concerned, the study helps to find out the various buying motives of Hyundai i10 customers in Calicut. It will also help the company to know more about their customers.
It is hoped that the analysis will help the company to develop marketing strategy and achieve the major objective from that.
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1.6 RESEARCH METHODOLOGY RESEARCH DESIGN A research design is a logical and systematic plan prepared for directing a research study. It is the program that guides the investigator in the process of collecting, analyzing and interpreting observations.
Here descriptive research design is used for analyzing buying motive of Hyundai i10 cars. It is very simple and more specific than exploratory study.
The descriptive study is a fact finding investigation with adequate interpretation. The descriptive study aims at identifying the various characteristics of a problem under study. It reveals potential relationships between variables and also setting the stage for further investigation later. SAMPLING TECHNIQUE A part of the population is known as sample. The process of drawing sample from a population is known as a sampling.
Non probability sampling It is not based on the theory of probability. It does not provide a chance of selection each population element. The merit of this type sampling is simplicity, convenience and low cost.
Convenience sampling is the sampling technique used here. In this sampling we select whatever sampling unit is conveniently available. It lays groundwork for subsequent probability sampling.
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SAMPLE SIZE The researcher has to select a relevant fraction of the population, which is a representative of the entire population. The sampling size will be small in the case of the descriptive study where less than 1 percent is sufficient to provide reliable results. Here the sample size is 50 samples and it is limited to the area of Calicut District
COLLECTION OF DATA Data Sources In this stage, there is a need to gather primary as well as secondary data. Primary data are collected on original information gathered for a specific purpose either through personnel interviews / questionnaires etc. Secondary data is collected from already existing sources in various organization brochures and records.
Primary Data The present study has used survey method for collecting the primary data by directly interviewing customers with questionnaire.
Secondary Data Secondary data for the study were collected from the library reference, technical and subject based books, journals and magazines, websites and other previous studies
Tool for Data collection A well structured questionnaire was used to collect the primary data from the customers. The customers were given multiple choices to select their particular answers. A copy of the questionnaire is enclosed in the annexure.
Type of Questions The questions that have been used in preparing the questionnaire were:
Dichotomous questions
Multiple choice questions
Period of Study The study was carried out for a period of 15 days from 17th November to 3rd December 2008. Bineshkumar C S
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1.7 LIMITATIONS OF THE STUDY
1. The study was confined to only Calicut district. Therefore the results cannot be generalized. 2. Customers were reluctant to answer certain questions. 3. The result generated out of the study is completely dependent on the nature of the response given by the customers. 4. Short span of time was a limiting factor. 5. Customer satisfaction varies from time to time. It will not remain constant.
Despite these limitations, a sincere attempt has been made to collect and analyze the data and present the information as accurately as possible.
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Chapter 3 Industry profile
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INDUSTRY PROFILE
A well developed transport network indicates a well developed economy. For rapid development a well-developed and well-knit transportation system is essential. As India's transport network is developing at a fast pace, Indian Automobile Industry is growing too. Also, the Automobile industry has strong backward and forward linkages and hence provides employment to a large section of the population. Thus the role of Automobile Industry cannot be overlooked in Indian Economy. All kinds of vehicles are produced by the Automobile Industry. The automobile industry in India—the tenth largest in the world with an annual production of approximately 2 million units—is expected to become one of the major global automotive industries in the coming years. A number of domestic companies produce automobiles in India and the growing presence of multinational investment, too, has led to an increase in overall growth. Following the economic reforms of 1991 the Indian automotive industry has demonstrated sustained growth as a result of increased competitiveness and relaxed restrictions.
India Automobile Industry includes the manufacture of trucks, buses, passenger cars, defence vehicles, two-wheelers, etc. The industry can be broadly divided into the Car manufacturing, two-wheeler manufacturing and heavy vehicle manufacturing units. The major Car manufacturers are, 1. Hindustan Motors 2. Maruti Udyog, 3. Fiat India Private Ltd 4. Ford India Ltd 5. General Motors India Pvt. Ltd 6. Honda Siel Cars India Ltd 7. Hyundai Motors India Ltd 8. Skoda India Private Ltd 9. Toyota Kirloskar Motor Ltd Bineshkumar C S
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Buying Motives of Hyundai i10 car The two-wheeler manufacturing is dominated by companies like TVS, Honda Motorcycle & Scooter India (Pvt.) Ltd., Hero Honda, Yamaha, Bajaj, etc. The heavy motors like buses, trucks, defense vehicles, auto rickshaws and other multiutility vehicles are manufactured by Tata-Telco, Ashok Leyland, Eicher Motors, Bajaj, Mahindra and Mahindra,etc. Following India‘s growing openness, the arrival of new and existing models, easy availability of finance at relatively low rate of interest and price discounts offered by the dealers and manufacturers all have stirred the demand for vehicles and a strong growth of the Indian automobile industry
Small Car Market in India The small car market in India is increasing by leaps and bounds. The indigenous market for small cars now occupies a substantial share of around 70% of the annual car production in India of about one million. The main players in the car market like Tata Motors and Maruti Udyog are fiercely competitive and more or less all the automobile companies in India that have forayed into the production of small cars are trying to out-do each other in terms of design, innovation, pricing, and technology, in order to gain control of the small car market in India.
The biggest players in the Indian small car market are engaging in a healthy competition, which has intensified since the Indian government decided to boost the small car sector. In this regard, a reduction in the excise duties has been thought of. Even the engine capacities are expected to be raised to 1500cc. The new small cars in India cars may even be fueled by gasoline and diesel in the future. With all these facilities, it has been estimated that the indigenous car market is going to move beyond the 3.5 million mark very soon.
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Chapter 3 Company profile
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Organization profile Kerala Transport Company (KTC) Kerala Transport Company made a humble beginning in the year 1958. From there its growth to the KTC Group, one of the biggest business houses is simply astounding and marvelous. The Group‘s turnover exceeds Rs.300 crores and its contribution to the various fields of its activities are widely appreciated and acclaimed. Kerala Transport Company is the flagship of the KTC group, one of the reputed business houses in the forefront. KTC Automotive group with following establishments 1. Dealers for Hyundai cars 2. Mitsubishi Lancer cars 3. Ford cars 4. Mahindra and Mahindra vehicles 5. Honda Scooters and Motor cycles 6. Automotive Management Academy I. II.
Cinema – Production, Distribution, Exhibition Super Specialty Hospital
III.
Property Development
IV.
Plantations
V.
Print Media
VI. VII. VIII. IX. X.
Educational institutions Custom house agents Food processing Dealership of Indian Oil Company and Hindustan Petroleum ( Fuel Outlets ) C and F Agents for various products The corporate office of KTC group is at KTC House, YMCA Road, Calicut. The
Chairman is Mr. PV. Chandran. Mr. PV. Gangadharan and Mr.PV. Nidhish are the Directors. They provide employment to over 4,000 people directly and more than 10,000 indirectly. The turnover exceeds Rs. 600 crore.
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KTC Hyundai KTC Automobiles (P) Ltd is the authorized dealer for Hyundai Motor India Ltd in North Kerala. The company has two main dealerships in Calicut & Thrissur.They have service centres in Kannur,Malappuram,Kasaragod,Palakkad and Kodungallur also.KTC Hyundai is part of the KTC Automotive group which consist of franchisee dealerships of HM-Mitsubishi, Ford India, Honda Scooters, Mahindra three wheelers and manage a professional training institute know as the Automotive Management Academy.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Hyundai Motor India Limited (HMIL) Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company, South Korea and is the second largest and the fastest growing car manufacturer in India. HMIL presently markets 34 variants of passenger cars in six segments. The Santro in the B segment, Getz Prime, i10 in the B+ segment, the Accent and Verna in the C segment, the Elantra in the D segment, the Sonata Embera in the E segment and the Tucson in the SUV segment. Hyundai Motor India, continuing its tradition of being the fastest growing passenger car manufacturer, registered total sales of 299,513 vehicles in calendar year (CY) 2006, an increase of 18.5 percent over CY 2005. In the domestic market it clocked a growth of 19.1 percent a compared to 2005, with 186,174 units, while overseas sales grew by 17.4 percent, with exports of 113,339 units. HMIL‘s fully integrated state-of-the-art manufacturing plant near Chennai boasts some of the most advanced production, quality and testing capabilities in the country. In continuation of its investment in providing the Indian customer global technology, HMIL is setting up its second plant, which will produce an additional 300,000 units per annum, raising HMIL‘s total production capacity to 600,000 units per annum by end of 2007. HMIL is investing to expand capacity in line with its positioning as HMC‘s global export hub for Hyundai Motor India attain other milestones such as the launch of the Verna and yet another pathbreaking record in its young journey by rolling out the fastest 10,00,000th car. The Hyundai Verna has bagged some of the most prestigious awards starting with the title of "Car of the Year 2007" by India's leading automotive publication – Overdrive, the ―Best Mid-size Car of the Year‖ award by the NDTV Profit C&B Awards 2007, the ―Best Value for Money Car‖ by the CNBC Autocar Auto awards and ‗Performance Car of the Year 2007‘ from Business Standard Motoring. Last Year Sonata Embera won the ‗Executive Car of The Year 2006‘ award from Business Standard Motoring Magazine and NDTV Profit – Car & Bike declared the Tucson as the ‗SUV of The Year 2006
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
PRODUCT PROFILE 3.1
Hyundai i10 The irresistible i10 is fully equipped and is tailor made for the city. It is the proud owner of the longest wheelbase and three rear seats. You can pack your i10 car with a lot more. The i10 is streetwise, chilly and spacious for the city rides too. The air condition comes across as standard and has front and front side airbags with a fully integrated audio system. The i10 features a unique centre console mounted gear shift. The i-shift transmission takes away the stress from the arm in case of long drives. Simultaneously, it renders greater legroom for the passengers who are in the front seats. The i10 has a number of safety features. The dual air bags provide ample cushioning in case of accidents. The flexible membrane covers the passengers. The anti-lock braking system (ABS) helps to prevent the locking up of the wheel during sudden brakes thus avoiding skidding while retaining car stability and steer ability.
The multi-reflector clear glass fog lamp is another feature that ensures maximum visibility even in adverse weather conditions. The clear rear combination lamp is a sleek, elongated feature that helps in improved visibility for trailing vehicles. The instrument cluster has many warning lamps like low fuel warning lamp, seat belt warning lamp, door and tail gate ajar warning lamp, MDPS warning lamp, ABS warning lamp and air bag warning lamp. This is in order to ensure that the driver is aware of all the conditions of the car at all times, ensuring-safety. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
The seat belt is one of the major safety measures in all cars. It contains an electronically controlled retractor called pretensioner. The i10 measures a diminutive 3565mm long, 1595mm wide and it has a 2380mm wheelbase. These dimensions mean it will be targeted primarily at the Asian and Euro markets, where demand for baby cars is booming. Motive power for the i10 comes from a 1.1-litre engine with a towering 49kW, and there's also a 1.2-litre turbo-diesel unit. The i10 will be one the better equipped baby cars originating from an Indian factory as standard kit across the range includes air-con, front power windows, central locking, power steering, alloy wheels, body-coloured bumpers and a CD player. In Europe, the i10 will lock horns with the likes of the Toyota Aygo/Citroen C1/Peugeot 107 triplets, although it's slightly larger than this trio. The i10 is the second car (after the i30) to feature Hyundai's 'i'-prefixed naming protocol, and still to come are the i20 (which will replace the Getz), i40 (Sonata replacement) and i50 (Grandeur replacement). Although undoubtedly inspired by Apple's iPod, Hyundai's new naming strategy is also conceivably a ploy to mimic the alphanumeric model designations of Euro carmakers such as Mercedes-Benz and Volvo.
Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Chapter 4 Conceptual Framework
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
CONCEPTUAL FRAMEWORK Introduction to buying motives Consumer or buyer is the central figure of all marketing activities. It is the consumer who determines the growth, prosperity and even existence of a business enterprise. Hence the marketer should always feel the pulse of customers. In order to understand the pulse of the customers, the marketer needs to understand fully the working of buyers mind. It helps him to plan his production and distribution to suit to the needs and convenience of customers‘ .It also helps him to plan suitable marketing strategies. Thus it is very essential for every marketer to know his customers buying motives. Buying motives Motive is a strong feeling, instinct, desire or emotion that makes a person to do something. When a motive makes a person to buy a product, then it becomes a buying motive. Thus buying motive means the influence and considerations which makes a customer to buy a particular product. According to D.J.Duncan, ―buying motives are those influences or considerations which provide the impulse to buy, induce action or determine choice in the purchase of goods and services‖. Buying motives are mainly two types, manifest motives and latent motives. Manifest motives are those motives which are known to the customer and also ready to admit them. But on the other hand latent motives are either known to the customer. Buying motive can also be calculated as follows 1. Product or patronage motives 2. Emotional and rational motives 3. Inherent and learned motives Product and patronage motives a. Product motives: it refers to those influences and reasons which make the consumer to buy a certain product in preference to another. These explain why people buy a certain product. Product are of two types: i.
Primary product motives: These motives induce a consumer to purchase general class of the product. These motives relate to the basic needs of people like hunger, thirst, sleep
ii.
Selective product motives: these motives determine which particular brand or item will be purchased from the general class
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car b. Patronage motives: these are the motives which determine where or from whom products are purchased. These are the considerations which induce a buyer to buy goods from specific stores. Following are the key patronage motives: i. ii. iii. iv. v. vi.
Price Location Quality Variety Services Personality of the owner or salesman
Emotional or Rational motives A. Emotional motives: these are the motives which are affected by the feeling of heart. Thus, emotional motives are physiological and psychological needs such as thirst , hunger, sex attraction etc. The emotional motives are of the following types; i. ii. iii. iv. v. vi. vii. viii.
Sex or romance Love of others Social acceptance motive Vanity motive Recreation and relaxation motive Curiosity motive Emulative motive Comfort and convenience motive
B. Rational motives: these are the motives where a consumer takes the decision of purchasing a product by his head and means i.e., after careful consideration and logical thinking. In making rational purchases, the consumer considers price, durability, dependability, efficiency etc. Rational motives are of the following types: i. ii. iii.
Monetary gain Efficiency in operation Dependability motive
Inherent and Learned motives A. Inherent motives: these are the motives for the satisfaction of which a consumer his best efforts and if these motives are not satisfied he feels mental tension. B. Learned motives: these are the motive which are acquired or learned by a consumer from the environment and education. These motives are social status, social acceptance, religious belief, fear, security etc.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Chapter 5 Analysis and interpretation
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
5.1
INTRODUCTION TO THE ANALYSIS AND INTERPRETATION
The data was collected through questionnaires from 50 i10 customers. The collected data are going to get analyzed here by using tables and charts like pie charts and bar diagrams. Further, the inferences are been made from the collected data.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
5.2
ANALYSIS AND INTERPRETATION TABLE: 1 INFLUENCE OF AGE ON BUYING DECISION
Description: Table shows the different age class of customers and its influence on buying decision of Hyundai i10
AGE GROUP
NO.OF RESPONDENTS
PERCENTAGE
20-30
6
12%
30-40
21
42%
40-50
18
36%
50-60
5
10%
50
100%
TOTAL Source: Survey data
CHART: 1 INFLUENCE OF AGE ON BUYING BEHAVIOR Description: Chart shows the different age class of customers and its influence on buying decision of Hyundai i10
Interpretation: The above table shows that majority (42%) of customers falling under the age group of 30-40.The next major category was 40-50 (36%).the age group 20-30 and 50-60 were 3rd and 4threspectively.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 2 INFLUENCE OF OCCUPATION ON BUYING DECISION Description: Table shows the different occupation of customers and its influence on buying decision of Hyundai i10.
TYPES OF JOB
NO.OF RESPONDENTS
PERCENTAGE
Professionals
24
48%
Government employees
6
12%
NRI's
11
22%
Businessman
9
18%
TOTAL
50
100%
Source: Survey data
CHART: 2 INFLUENCE OF OCCUPATION ON BUYING DECISION Description: Chart shows the different occupations of customers and its influence on buying decision of Hyundai i10.
Interpretation: From the above chart it can be found that the 48% customers are professionals, 22% were NRI‘s, 18% were businessman and balance 12% were government employees. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 3 DURATION OF USAGE Description: Table shows the duration of usage of i10 by the customers Usage
No of respondents
Percentage
below 3
17
34%
3-6 months
18
36%
6-9 months
12
24%
9 & above
3
6%
Total
50
100%
Source: Survey data CHART: 3 DURATION OF USAGE Description: Chart shows the duration of usage of i10 by the customers
Interpretation: From the above chart it can be found that the duration of usage of cars between 3-6 months were 36% and between 6-9 months were 34%. 24% of the customers were using the car for a period less than three months. The balance 6% was using it for more than nine months. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 4
PURCHASING PATTERN OF HYUNDAI Description: Table shows the customers who have previous experience with Hyundai.
RESPONSE
NO.OF RESPONDANTS
PERCENTAGE
Yes
6
12%
No
44
88%
50
100%
TOTAL Source: Survey data
CHART: 4
PURCHASING PATTERN OF HYUNDAI Description: Chart shows the customers who have previous experience with Hyundai.
Interpretation: From the above chart it can be found that 88% of the customers have no previous experience with Hyundai. The balance 12% has experience with Hyundai.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 5
SOURCES OF INFORMATION Description: Table shows the sources from which the customers get information about their purchase. SOURCES
NO. OF RESPONDENTS
PERCENTAGE
Television
22
44%
Newspaper
3
6%
Personnel sources
6
12%
Product demos
2
4%
sales representatives
5
10%
Experienced users
12
24%
TOTAL Source: Survey data
50
100%
CHART:5
SOURCES OF INFORMATION Description: The chart shows the sources from which the customers get information about their purchase.
Interpretation: From the above chart it can be found that 44% were influenced by the TV advertisement. 24 % influenced by experienced users, 12% were influenced by Personal sources and 10% were influenced by sales representatives. News paper and product demos were influenced by 6% and 4% respectively. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 6
GENERAL FACTORS INFLUENCING PURCHASE DECISION
No of respondents
Score
No of respondents
Score
No of respondents
Score
No of respondents
Score
No of respondents
Score
Total Number of respondents
Total score
Description: Table shows the general factors influencing buying behavior of customers.
Style
10
50
4
16
11
33
19
38
6
6
50
143
Comfort
18
90
15
60
13
39
4
8
0
0
50
197
Mileage
15
75
18
72
6
18
8
16
3
3
50
184
Price
7
35
13
52
15
45
12
24
3
3
50
159
Color
0
0
0
0
5
15
7
14
38
38
50
67
Rank 1
Features
Rank2
Rank 3
Source: Survey data
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Rank4
Rank 5
Rank (5-1)
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
CHART: 6
GENERAL FACTORS INFLUENCING PURCHASE DECISION Description: Chart shows the general factors influencing buying behavior of customers.
Interpretation: The above table shows that most of the customers rates comfort as the most important factor for purchasing a car, then comes mileage, style and price respectively. Color is not having that much influence on buying decision..
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(i)
CUSTOMERS OPINION ON STYLE Description: Table shows the customers opinion about style and its influence on buying decision of Hyundai i10. LEVEL
NO OF RESPONDANTS
PERCENTAGE
Highly influenced
17
34%
Influenced
32
64%
Less influenced
1
2%
TOTAL Source: Survey data
50
100%
CHART: 7(i)
CUSTOMERS OPINION ON STYLE Description: Chart shows the customers opinion about style and its influence on buying decision of Hyundai i10.
Interpretation: From the above table we can see that, 34% customers were highly influenced and 64 % were influenced by the style of Hyundai i10 while making their purchase decision. The rest 2% were not influenced by the style.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7 (ii)
CUSTOMERS OPINION ABOUT COMFORT Description: Table shows the influence of comfort on buying decision of customers. LEVEL OF INFLUENCE
NO. OF RESPONDENTS
PERCENTAGE
Highly influenced
35
70%
Influenced
15
30%
Not influenced
0
0%
50
100%
TOTAL Source: Survey data
CHART: 7(ii)
CUSTOMERS OPINION ABOUT COMFORT Description: Chart shows the influence of comfort on buying decision of customers.
Interpretation: The above chart shows that 70 % customers were highly influenced and 30% were influenced by the comfort and convenience while making purchase decision of Hyundai i10.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(iii)
CUSTOMERS OPINION ABOUT MILEAGE Description: Table shows how mileage influences the buying decision of customers. FORM OF INFLUENCE
NO OF RESPONDANTS
PERCENTAGE
Highly influenced
31
62%
influenced
19
38%
Not influenced
0
0%
50
100%
TOTAL Source: Survey data
CHART: 7(iii)
CUSTOMERS OPINION ABOUT MILEAGE Description: Chart shows how mileage influences the buying decision of customers.
Interpretation: The table above shows that 62% customers were highly influenced by the mileage of Hyundai i10 while making their final decision. The remaining 38 % were somewhat influenced by the mileage Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(iv)
CUSTOMERS OPINION ABOUT PRICE Description: Table shows that how price influence the buying decision of customers.
LEVEL OF INFLUENCE
NO OF RESPONDENTS
PERCENTAGE
Highly influenced
21
42%
Influenced
24
48%
Not influenced
5
10%
50
100%
TOTAL Source: Survey data
CHART: 7(iv)
CUSTOMERS OPINION ABOUT PRICE Description: Chart shows how price influence the buying decision of customers
Interpretation: The chart above shows that 48 % customers were influenced and 42% were highly influenced by the price of Hyundai i10 while making their purchase decision. The remaining 10% were not influenced by the price
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(v)
CUSTOMERS OPINION ABOUT COLOUR Description: Table shows how colour influences the buying decision of customers LEVEL OF INFLUENCE
NO OF RESPONDENTS
PERCENTAGE
Highly influenced
6
12%
Influenced
30
60%
Not influenced
14
28%
50
100%
Total Source: Survey data
CHART: 7(v)
CUSTOMERS OPINION ABOUT COLOUR Description: Chart shows how colour influences the buying decision of customers
Interpretation: From the above chart it can be found that 60% were influenced and 28% were highly influenced by the colour of Hyundai i10. Remaining 12% were not influenced by the colour. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(vi)
CUSTOMERS OPINION ABOUT PRODUCT FEATURES Description: Table shows how product features influence buying decision of customers.
LEVEL OF INFLUENCE
NO. OF RESPONDENTS
PERCENTAGE
Highly influenced
7
14%
Influenced
41
82%
Not influenced
2
4%
TOTAL Source: Survey data
50
100%
CHART: 7(vi)
CUSTOMERS OPINION ABOUT PRODUCT FEATURES Description: Chart shows how product features influence buying decision of customers.
Interpretation: From the above table we can see that 82% customers were influenced and 14% were highly influenced by the product features of Hyundai i10. 4% was not influenced by the product features. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(vii)
CUSTOMERS OPINION ABOUT TECHNOLOGY Description: Table shows how the technology influences the buying decision of customers. Level of influence
No of respondents
Percentage
Highly influenced
14
28%
Influenced
33
66%
Not influenced
3
6%
50
100%
Total Source: Survey data
CHART: 7(vii)
CUSTOMERS OPINION ABOUT TECHNOLOGY Description: Chart shows how the technology influences the buying decision of customers.
Interpretation: The above table shows that 14% customers were highly influenced and 33% customers highly influenced by the technology of i10. Remaining 3% was not influenced by the technology. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 7(viii)
CUSTOMERS OPINION ABOUT SAFETY Description: Table shows how safety influences the buying decision of the Hyundai i10 customers.
LEVEL OF INFLUENCE
NO OF RESPONDENTS
PERCENTAGE
Highly influenced
18
36%
Influenced
29
58%
Not influenced
3
6%
50
100%
Total Source: Survey data
CHART: 7(viii)
CUSTOMERS OPINION ABOUT SAFETY Description: Chart shows how safety influences the buying decision of the Hyundai i10 customers.
Interpretation: The above table shows that 36% customers were highly influenced and 36 % were influenced by the safety of Hyundai i10. Balance 6% was not influenced by the safety. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 8 OPINION OF CUSTOMERS ABOUT PARTS & SERVICE AVAILABILITY Description: Table shows how parts and service availability influences the buying decision of Hyundai i10. LEVEL OF INFLUENCE
NO OF RESPONDENTS
PERCENTAGE
Highly influenced
16
32%
Influenced
13
26%
Neutral
14
28%
Less influenced
6
12%
Not influenced
1
2%
50
100%
Total Source: Survey data
CHART: 8 OPINION OF CUSTOMERS ABOUT PARTS & SERVICE AVAILABILITY Description: Chart shows how parts and service availability influence the buying decision of Hyundai i10.
Interpretation: The above chart shows that 32% customers were highly influenced and 26% are influenced by parts and service availability. 28% remains neutral. 12% were less influenced and balance 2% was not influenced by the parts and service availability of Hyundai i10. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 9 CUSTOMERS OPINION ABOUT BRAND IMAGE OF HYUNDAI Description: Table shows the opinion of customers regarding the brand image of Hyundai.
RESPONSE
NO OF RESPONDENTS
PERCENTAGE
Yes
31
62%
No
19
38%
Total Source: Survey data
50
100%
CHART: 9 CUSTOMERS OPINION ABOUT BRAND IMAGE OF HYUNDAI Description: Chart shows the opinion of customers regarding the brand image of Hyundai.
Interpretation: The chart above shows that 62% of customers were influenced by the brand image Hyundai while making their buying decision of Hyundai i10. 38% respondents were not influenced by the brand image of Hyundai.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE 10 CUSTOMERS OPINION ON CELEBRITY ADVERTISEMENTS Description: The table shows the opinion of customers on celebrity advertisements and its influence on buying decision of Hyundai i10. LEVEL OF INFLUENCE
NO. OF RESPONDENTS
PERCENTAGE
Highly influenced
8
16%
Somewhat influenced
15
30%
Neutral
21
42%
Less influenced
0
0%
Not influenced
6
12%
50
100%
TOTAL Source: Survey data
CHART 10 CUSTOMERS OPINION ON CELEBRITY ADVERTISEMENTS Description: The chart shows the opinion of customers about celebrity advertisements and its influence on buying decision of Hyundai i10
Interpretation: The chart above shows that 16 % customers were highly influenced and 30% were somewhat influenced by the celebrity advertisements. 42% customers were neutral towards celebrity advertisements.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE: 11 PURPOSE OF BUYING Description: Table shows the customers purpose of the car and its influence on buying decision of Hyundai i10
PURPOSE
NO OF RESPONDENTS
PERCENTAGE
Official
2
4%
Personal
48
96%
Total Source: Survey data
50
100%
CHART: 11 PURPOSE OF BUYING Description: Chart shows the customers purpose of buying the car and its influence on buying decision of Hyundai i10.
Interpretation: The chart shows that 96% customers using their car for personal purposes. The remaining 4% were using it for official purposes. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE 12 INFLUENCE OF REFERENCE GROUP ON BUYING DECISION Description: Table shows how the customers being influenced by family, friends, colleagues and others.
SOURCES
NO.OF RESPONDENTS
PERCENTAGE
Family
24
48%
Friends & relatives
18
36%
Colleagues
7
14%
Others
1
2%
50
100%
Total Source: survey data
CHART 12 INFLUENCE OF REFERENCE GROUP ON BUYING DECISION Description: Table shows how the customers being influenced by family, friends, colleagues and others.
Interpretation: The chart above shows that 48% of the customers were influenced by family. 36% were influenced by friends, 14% were influenced by colleagues and the remaining 2% were influenced by other factors.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE 13 PERSONAL INFLUENCE ON BUYING DECISION Description: The table shows personal influence on the decision regarding the purchase of Hyundai i10.
ATTRIBUTE
NO. OF RESPONDENTS
PERCENTAGE
Self
19
38%
Spouse
3
6%
Children
3
6%
Collectively
25
50%
50
100%
TOTAL Source: Survey Data
CHART 13 PERSONAL INFLUENCE ON BUYING DECISION Description: The chart shows personal influence on the decision regarding the purchase of Hyundai i10.
Interpretation: The above table shows that most of the customers purchasing car through a collective decision i.e., 50%.another 35 % take their own decisions
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE 14 CUSTOMERS CHOICE OF DEALERS Description: The table shows customers opinion about their respective dealers.
DEALERS
NO. OF RESPONDENTS
PERCENTAGE
KTC
23
46%
APCO
27
54%
50
100%
TOTAL Source: Survey Data
CHART 14 CUSTOMERS CHOICE OF DEALERS Description: The chart shows customers choice of different dealers.
Interpretation: The above charts shows that 54% of the customers are APCO customers and 46% are KTC customers.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE 15 OPINION OF CUSTOMERS REGARDING CHOICE OF DEALERS Description: The table shows the customers rating of service quality, accessibility, brand loyalty and customer relationship of dealers
FACTORS
NO. OF RESPONDENTS
PERCENTAGE
Service quality
21
42%
Accessibility
7
14%
Brand Loyalty
14
28%
Customer Relationship
8
16%
50
100%
TOTAL Source: Survey data
CHART 15 OPINION OF CUSTOMERS REGARDING CHOICE OF DEALERS Description: The table shows the customers rating of service quality, accessibility, brand loyalty and customer relationship of dealers
Interpretation: The chart above shows that 42% people were influenced by service quality of dealers. 28% were given their importance to brand loyalty.16% were influenced by the customer relationship of dealers and the rest 14% were influenced by acce
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE 16 CUSTOMERS OPINION ABOUT RECOMENDATIONS Description: The table shows customers preference for recommendations of i10.
COMMENT
NO. OF RESPONDENTS
PERCENTAGE
Yes
42
84%
No
8
16%
Total Source: Survey data
50
100%
CHART 16 CUSTOMERS OPINION ABOUT RECOMENDATIONS Description: The table shows customers preference for recommendations of i10
Interpretation: The chart above shows that 84% customers prefer to recommend i10 to others. Remaining 16% were not interested in recommendations.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
TABLE 17 OVERALL SATISFACTION LEVEL OF CUSTOMERS Description: The table shows the overall satisfaction of customers regarding Hyundai i10 NO OF RESPONDENTS
PERCENTAGE
Highly satisfied
32
64%
Somewhat satisfied
11
22%
Neither satisfied nor dissatisfied
6
12%
Somewhat dissatisfied
1
2%
Dissatisfied
0
0%
50
100%
LEVEL OF SATISFACTION
TOTAL Source: Sample Data
CHART17 OVERALL SATISFACTION LEVEL OF CUSTOMERS Description: The chart shows overall satisfaction level of customers of Hyundai i10.
Interpretation: The chart above shows that 64% of the customers were highly satisfied with the performance of the car.22% was somewhat satisfied with the performance of i10. 12 % was neither satisfied nor dissatisfied with the performance of i10. Bineshkumar C S
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
5.3
CONCLUSION
The collected data has been analyzed and interpreted here. Tables and charts have been used to make the data more clear. Charts like pie charts and bar diagrams have been used. Further, inferences have been made from the collected data.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Chapter 6 Conclusion
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
6.1
SUMMARY TO THE CONCLUSION
The study has been designed to know the BUYING MOTIVE OF Hyundai i10 car with special reference to KTC Hyundai, Calicut. The study reveals that majority of the customers attracted to the comfort and mileage of i10. .
The study contains the following chapters: Chapter 1 contains:
Introduction to the study, which says about the project topic, objective of the study, the research design used area and population of the study, etc.
Research problem, i.e., to find the buying motive of Hyundai i10 car with special reference to KTC Hyundai, Calicut.
Research Methodology, which gives theoretical description about the research design, sampling technique, sample size, data collection method and period of study.
Objectives of the study are all about the primary and secondary objectives.
Need and scope of the study, and
Limitations of the study.
Chapter 2contains theoretical framework about buying motive of Hyundai i10. Chapter 3 contains the industry profile, i.e., about the automobile industry. Chapter 4 contains the company profile which is about KTC Hyundai, Calicut in which the study has been conducted. Chapter 5 contains analysis and interpretation in which an introduction to the analysis has been given followed by the diagrammatic representation of the data and the conclusion to the analysis.
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Buying Motives of Hyundai i10 car
6.2 FINDINGS The study finds that majority of the customers were highly influenced by the comfort of the car. In the case sales promotion activities, it is finds that T.V. Advertisement is having high influence on customers compared to other factors. It is important to note that experienced customers are one of the important influencing factors behind a number of purchases. Following are the other important findings of the study, Age: Majority of the customers falling under the age group of 30-40 Occupation: Majority of the users are professionals such as doctors, engineers etc.. Duration of usage: Most of the customers made their purchase between last six months. There is a fast movement in the sale of i10 cars within the last 6 months i.e., public opinion about the car is increasing and it‘s in turn act as a buying motive. Buying preference: Majority of the customers prefer comfort as an important factor while making the purchase decision of a car. Style: Most of the customers (64%) were influenced by the style of the car. Comfort: Most of the customers were influenced by the comfort of the car. Mileage: Majority of the customers prefer mileage as an important influencing factor. Price: Most of the customers were influenced by the price of the car. Product features: Most of the customers were influenced by the product features of Hyundai i10. Technology: 66% customers were influence by the technology of i10. Safety: 60% of the customers were influenced by the safety of i10.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Parts and service availability: Most of the customers (58%) were influenced by the parts and service availability of Hyundai i10. Brand perception of customers: Most of the customers (62%) were influenced by the brand image of Hyundai. Purpose of Buying: Majority of the customers (98%) were purchased their car for personal purposes Purchase Decision: Majority of the customers made their decision collectively i.e., it has got that much family acceptance. Advertisement: Majority of the customers were influenced by the TV advertisements. Experienced Users: It is very important note that experienced customers become an important influencing factor behind a number of purchases. Factors influencing Choice of dealers: Customers have high preference on service quality of dealers and it also act as an important influencing factor while they make their purchase decision. Customer satisfaction: Majority of the customers (92%) were highly satisfied about the performance of the car. Recommendations Majority of customers like to recommend i10 to others. It indirectly reflected that they are all satisfied with the performance of Hyundai i10.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
6.3 SUGGESTIONS The company can try to improve the service quality of Hyundai i10 because most of the customers have the opinion that service quality of KTC regarding i10 is low as compared to other Hyundai brands. It will adversely affect the public opinion regarding KTC. The company can also to improve the morality of existing customers because existing customers are one of the important influencing factors. Company can give Offers & Schemes to attract customers. The company can arrange more product demos in crowded places.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
6.4
CONCLUSION
The project entitled ―the study on buying motive of Hyundai i10 car with special reference to KTC Hyundai‖ undertaken by the researcher on behalf of the KTC Hyundai Automobiles, Calicut would help the dealer to know about the various drives of customers that motivate them to purchase Hyundai i10. The company can design proper marketing strategies from these findings.
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Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
Appendix
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Buying Motives of Hyundai i10 car
BIBLIOGRAPHY Books
Marketing management – Philip Kotler, Tenth Edition, Prentice Hall India
Methodology of research in social sciences – Dr. O.R. Krishnaswami & Dr. M. Ranganatham, First Edition, Himalaya Publishing House.
Consumer Behavior- Leon G. Schiffman and Leslie Lazar Kanuk, Ninth Edition, Pearson Education.
Consumer Behavior- Hawkins, Best and Coney, Eighth Edition, Tata McGraw-Hill.
Websites www.google.com www.hyundai.co.in www.automobileindia.co.in www.ktchyundai.com
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Buying Motives of Hyundai i10 car
QUESTIONNAIRE Subject: A study on buying motives of Hyundai i10 cars with special reference to KTC Hyundai This study is conducted as part of requirements of MBA Degree under University of Calicut. The information provided by you will be kept confidential and used purely for academic purposes.
Name
: --------------------------------------
Location
: --------------------------------------
Age
: --------------------------------------
Sex
: -------------------------------------
Occupation
: ---------------------------------------
1.
2.
How long you have been using this car? Below 3 months
3 – 6 months
6 – 9 months
9 months & above
Have you been using any cars of Hyundai before? Yes
No
If yes, specify ----------------------
3.
Which one of the following provided you with most significant information for making your purchase decision?
4.
TV advertisements
Newspapers & magazines advertisements
Online Sources
Product Demos
Sales representatives
experienced users
Rank in the order of your preference to buy a car (in the order 1-5) Style
Bineshkumar C S
Comfort
Mileage 58
Price
Colour
Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
5.
Rate the factors that influence your decisions to buy the i10 car Highly influenced
Influenced
Not influenced
Style Comfort Mileage Price Colour Product features Technology Safety 6.
7.
How far the availability of service and spare parts influenced your choice? Highly influenced
Influenced
Less influenced
Not influenced
Does the Brand image of Hyundai have any influence on your buying decision of i10? Yes
8.
9.
Neutral
No
How far celebrity advertisements influence your buying decision? Highly influenced
Somewhat Influenced
Less influenced
Not influenced
Neutral
For which purpose you use this car? Official
Personal
10. Who influenced you to buy i10? Family
Friends & relatives
Colleagues
Others (specify)
11. Who make the decision to buy i10? Self
Bineshkumar C S
Spouse
Children
59
Collectively
Master Of Business Administration, 2008
Buying Motives of Hyundai i10 car
12. From which dealer you bought i10? ----------------------------------------------------13. What factor makes you to purchase it from the above dealer? Loyalty
Service Quality
Accessibility
Brand image
14. Would you recommend i10 to others? Yes
No
If yes specify the details-------------------------------------------------------------------------------------------------------------------------------------------------------15. What is the overall satisfaction level of i10? Very satisfied
Somewhat satisfied
Somewhat dissatisfied
Very dissatisfied
Neutral
Suggestions, if any-----------------------------------------------------------------------------------------------------------------------------------------------------------------
THANK YOU FOR YOUR CO-OPERATION
Bineshkumar C S
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Master Of Business Administration, 2008
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