Project Synopsis On “MARKETING STRATEGY ADOPTED OF HERO HONDA SPLENDOR BIKE [ IN VIDHRBHA ] Submitted To Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur In Partial fulfillment of the requirement of the Course Bachelor of Business Administration (B.B.A.) Part-III Session 2010-11 Submitted by Mr.SAGAR VINODRAO BHOJANE Under the Guidance of Prof. Mr. Sumant D. Dhobale (Project Guide) 1 INDEX SR.NO TITLE PAGE NO 1 INTRPDUCATION OF MARKETING 2 INTRODUCATION OF COMPANY 3 COMPANY PROFILE 4 OBJECTIVE OF STUDY 5 RATIONAL BEHIND STUDY 6 HYPOTHESIS 7 LIMITATION OF THE PROJECT 8 RESEARCHMETHODOLOGY 9 DATA INTERPREATION AND ANALYSIS 10 CONCLUTION 11 SUGGESTION 12 BIBLOGRAPHY 13 APENDEX 2 Chapter 1 INTRODUCTION OF MARKETING Chapter 1 INTRODUCTION OF MARKETING ROLE OF MARKETING IN MODERN BUSINESS PRODUCT ORIENTED VIEW COSTUMER ORIENTED VIEW MODERN CONCEPT OF MARKETING OBJECTIE OF MARKETING COMPANY ORGANIZATION APPLYING THE MARKETING CONCEPT STEP IN MARKETING SCOPE OF MARKETING 3 ROLE OF MARKETING IN MODERN BUSINESS Human wants are unlimited and repetitive in nature. Business activity aim at acquiring of wealth converting it in to desired from unmark ting the final product a ail able for exchange for the satisfaction of a human wants these activities fall under industry commerce and Trade these three branches have one command function the exchange function those marketing means exchange of goods for money or money’s worth . Mainly, there two angels from which we can discuss the meaning of a marketing product oriented or old concept costumer oriented or new or modern concept. PRODUCT ORIENTED VIEW It is a traditional concept. Of marketing the view is based on the assumption that the product whatever it is acceptable to the customer the count the choice or the behavior of the consumer Marketing is the performance of a business activity that direct the flow of a goods and services From producer to consumer or user COSTUMER ORIENTED VIEW Marketing is related to the needs of the buyers. Only such product is brought forward which can satisfy the wants and test of the consumer to please the consumer after sells service are needed. According to Williams J. Stanton,”marketing is a total system of interacting business activities Design to plant price promotes and distribute want satisfying product and service to present and potential costumer” 4 MODERN CONCEPT OF MARKETING Marketing occupies an important position in the organization of business unit marketing is a comprehensive term and it includes all resources and a set of activity necessary to direct and facilities the flow of goods and services form producer to consumer in process of distribution marketing is a total system of business an ongoing process of 1) Discovering and translating consumer needs and desires hit product and services (Through planning and producing the planned product) 2) Creating demand for these product and services (through promotion and pricing) 3) Serving the consumer demand (through planned physical distribution) With help of market channels and then in turn 4) Expanding the market even in the face of keen competition Philip kilter has rightly remarked marketing is analysis organizing planning and controlling of the firm customer impinging resourcing polices activities with a view to satisfy the needs and Wants of chosen customer groups at a project Thus the prime objective of modern marketing is the satisfaction of customer need therefore Marketing function of buying and selling but they include all function necessary to satisfy the Customer such as financing storage risk bearing and afar sales services Consider the following famous passage in Gandhi’s writing hung on the wall of market oriented corporations the role of marketing is to deliver a higher standard of living Marketing is a societal process by which individuals and group obtain what they need and 5 Wants through creating offering and freely exchange product and services of value with others Marketing has been described as “the art of selling product” the most important part of marketing is not selling is only the trip of the marketing iceberg. 6 OBJECTIVE OF MARKETING The success of marketing depends upon how and to what extend it has achieved its objectives. The main objectives. Of marketing are; 1)Determination Needs and of wants of costumer :all marketing activities revolve around the needs and wants; these can identity by marketing research 2) Market segmentation :the second objective of marketing is to divide the whole market into several augments on some specific based, e.g.: age, income, caste, location, etc. 3) Growth of Enterprise :the other object of the marketing is to archive overall growth of enterprise in term of sales volume and net profits. All actives of marketing must concentrated Upon increase or maximization of net profits. But, it should be noted here that maximization of profits should be through satisfaction of customer needs and wants. 4) Increase in customer’s satisfaction :The main object of a business is to earn and maximize its net profits, but this objective can be achieved only if the customer of the enterprise is satisfied. Thus, all marketing activities, pro-grammas and policies should be framed toward satisfying the customers’ needs. 7 8 9 Chapter 2 INTRODUCTION OF COMPANY Chapter 2 INTRODUCTION OF COMPANY INTRODUCTION OF COMPANY HISTORY OF HERO HONDA CLSSIFICATION OF BIKE 10 11 INTRODUCTION OF COMPANY India has the largest number of two wheelers in the world with 41.6 million vehicles. India has a mix of 30 percent automobiles and 70 percent two wheelers in the country. India was the second largest two wheeler manufacturer in the world starting in the 1950’s with the birth of Automobile Products of India (API) that manufactured scooters. API manufactured the Lambert’s but, another company; Bajaj Auto Ltd. surpassed API and remained through the turn of the century from its association with DiMaggio of Italy (manufacturer of Vesper). The license raj that existed between the1940s to1980s in India, did not allow foreign companies to enter the market and imports were tightly controlled. This regulatory maze, before the economic liberalization, made business easier for local players to have a seller’s market. Customers in India were forced to wait 12 years to buy a scooter from Bajaj. The CEO of Bajaj commented that he did not need a marketing department, only a dispatch department. By the year 1990, Bajaj had a waiting list that was twenty-six times its annual output for scooters. The motorcycle segment had the same long wait times with three manufacturers; Royal Enfield, Ideal Jaw, and Escorts. Royal Enfield made a 350cc Bullet with the only four-stroke engine at that time and took the higher end of the market but, there was little competition for their customers. Ideal Jaw and Escorts took the middle and lower end of the market respectively. In the mid-1980s, the Indian government regulations changed and permitted foreign companies to enter the Indian market through minority joint ventures. The two-wheeler market changed with four Indo- Japanese joint ventures: Hero Honda, TVS Suzuki, Bajaj Kawasaki and Kinetic Honda. The entry of these foreign companies 12 changed the Indian market dynamics from the supply side to the demand side. With a larger selection of two-wheelers on the Indian market, consumers started to gain influence over the products they bought and raised higher customer expectations. The industry produced more models, styling options, prices, and different fuel efficiencies. The foreign companies new technologies helped make the products more reliable and with better quality. Indian companies had to change to keep up with their global counterparts. 13 BOARD OF DIRECTORS No. Name of the Directors Designation 1 Mr. Brijmohan Lall Munjal Chairman & Whole-time Director 2 Mr. Pawan Munjal Managing Director 3 Mr. Toshiaki Nakagawa Jt. Managing Director 4 Mr. Takao Eguchi Whole-time Director 5 Mr. Satyanand Munjal Non-executive Director 6 Mr. Om Prakash Munjal Non-executive Director 7 Mr. Tatsuhiro Oyama Non-executive Director 8 Mr. Masahiro Takedagawa Non-executive Director 9 Mr. Narinder Nath Vohra 10 11 12 13 14 15 14 Non-executive & Independent Director Mr. Pradeep Dinodia Non-executive & Independent Director Gen.(Retd.) Ved Prakash Malik Non-executive & Independent Director Mr. Analjit Singh Non-executive & Independent Director Dr. Pritam Singh Non-executive & Independent Director Ms. Shobhana Bhartia Non-executive & Independent Director Dr. Vijay Laxman Kelkar Non-executive & Independent Director Hero Honda Motorcycle Ltd. Type Public company BSE:HEROHONDA M Founded January 19, 1984 in Gurgaon, Haryana, India Headquarters Haryana, India Om Prakash Munjal, Founder Key people Mr. Industry Products Automotive Mr. Pawan Munjal, Managing Director Motorcycles, Scooters Revenue U$ 2.8 billion Website http://www.herohonda.com/site/home/home.asp Brijmohan Lall Munjal, Chairman Mr. Toshiaki Nakagawa, Joint Managing Director HERO HONDA HEADQUARTERS 15 Hero Honda Motorcycles Limited is an Indian manufacturer of motorcycles and scooters. Hero Honda is a joint venture that began in 1984 between the Hero group of India and Honda from Japan. It has been the world's biggest manufacturer of 2- wheeled motorized vehicles since 2001, when it produced 1.3 million motorbikes in a single year. Hero Honda's Splendor is the world's largest selling motorcycle. Its 2 plants are in Dharuhera and Gurgaon, both in Haryana, India. It specializes in dual use motorcycles that are low powered but very fuel efficient. [ Models ] Bikes Hero Honda Splendor Plus Hero Honda Passion Plus Hero Honda Karizma Hero Honda CBZ Hero Honda Super Splendor Hero Honda CD Dawn Hero Honda CD Deluxe Hero Honda Achiever Hero Honda Glamour Hero Honda Ambition 16 COMPANY PROFILE “Hero”, is the brand name used by the Munjal brothers in the year 1956 with the flagship company Hero Cycles. The two-wheeler manufacturing business of bicycle components had originally started in the 1940’s and turned into the world’s largest bicycle manufacturer today. Hero, is a name synonymous with two-wheelers in India today. The Munjals roll their own steel, make free wheel bicycle critical components and have diversified into different ventures like product design. The Hero Group philosophy is: “To provide excellent transportation to the common man at easily affordable prices and to provide total satisfaction in all its spheres of activity”. The Hero group vision is to build long lasting relationships with everyone (customers, workers, dealers and vendors). The Hero Group has a passion for setting higher standards and “Engineering Satisfaction” is the prime motivation, way of life and work culture of the Group. In the year 1984, Mr. Brijmohan Lal Munjal, the Chairman and Managing Director of Hero Honda Motors (HHM), headed an alliance between the Munjal family and Honda Motor Company Ltd. (HMC). HHM Mission Statement is: “We, at Hero Honda, are continuously striving for synergy between technology, systems, and human resources to provide products and services that meet the quality, performance, and price aspirations of our customers. While doing so, we maintain the highest standards of ethics and societal responsibilities, constantly innovate products and processes, and develop teams that keep the momentum going to take the company to excellence in the new millennium”. This alliance became one of the most successful joint 17 ventures in India, until the year 1999 when HMC had announced a 100% subsidiary, Honda Motorcycle & Scooter India (HMSI). This announcement caused the HHM stock price to decrease by 30 percent that same day. Munjal had to come up with some new strategic decisions as, HMSI and other foreign new entry companies were causing increased intensity of rivalry for HHM. GROWTH:The business growth of Hero Honda has been phenomenal throughout its early days. The Munjal family started a modest business of bicycle components. Hero Group expanded so big that by 2002 they had sold 86 million bicycles producing 16000 bicycles a day. Today Hero Honda has an assembly line of 9 different models of motorcycles available. It holds the record for most popular bike in the world by sales for Its Splendor model. Hero Honda Motors Limited was established in joint venture with Honda Motors of Japan in 1984, to manufacture motorcycles. It is currently the largest producer of Two Wheelers in the world. It sold 3 million bikes in the year 2005-2006. Recently it has also entered in scooter manufacturing, with its model PLEASURE mainly aimed at girls. The Hero Group has done business differently right from the start and that is what has helped them to achieve break- through in the competitive twowheeler market. The Group's low key, but focused, style of management has earned the company plaudits amidst investors, employees, vendors and dealers, as also worldwide recognition. The growth of the Group through the years has been influenced by a number of factors: Just-in-Time The Hero Group through the Hero Cycles Division was the first to introduce the concept of just-in-time inventory. The Group boasts of superb operational efficiencies. Every assembly line worker operates two 18 machines simultaneously to save time and improve productivity. The fact that most of the machines are either developed or fabricated in-house, has resulted in low inventory levels. In Hero Cycles Limited, the just-in-time inventory principle has been working since the beginning of production in the unit and is functional even till date.. This is the Japanese style of production and in India; Hero is probably the only company to have mastered the art of the just-in-time inventory principle. Ancillarisation An integral part of the Group strategy of doing business differently was providing support to ancillary units. There are over 300 ancillary units today, whose production is dedicated to Hero's requirements and also a large number of other vendors, which include some of the better known companies in the automotive segment. Employee Policy: Another Striking feature within the Hero Group is the commitment and dedication of its workers. There is no organized labor union and family members of employees find ready employment within Hero. The philosophy with regard to labor management is "Hero is growing, grow with Hero." When it comes to workers' benefits, the Hero Group is known for providing facilities, further ahead of the industry norms. Long before other companies did so, Hero was giving its employees a uniform allowance, as well as House Rent Allowance (HRA) and Leave Travel Allowance (LTA). Extra benefits took the form of medical check-ups, not just for workers, but also for the immediate family members. DealerNetwork The relationship of Hero Group with their dealers is unique in its closeness. The dealers are considered a part of the Hero family. A 19 nation-wide dealer network comprising of over 5,000 outlets, and have a formidable distribution system in place. Sales agents from Hero travels to all the corners of the country, visiting dealers and send back daily postcards with information on the stock position that day, turnover, fresh purchases, anticipated demand and also competitor action in the region. The manufacturing units have a separate department to handle dealer complaints and problems and the first response is always given in 24 hours. FinancialPlanning The Hero Group benefits from the Group Chairman's financial acumen and his grasp on technology, manufacturing and marketing. Group Company, Hero Cycles Limited has one of the highest labor productivity rates in the world. In Hero Honda Motors Limited, the focus is on financial and raw material management and a low employee Quality Quality at Hero is attained not just by modern plants and equipment and through latest technology, but by enforcing a strict discipline. At the Group factories, attaining quality standards is an everyday practice - a strictly pursued discipline. It comes from an amalgamation of the latest technology with deep-rooted experience derived from nearly four decades of hard labor. It is an attitude that masters the challenge of growth and change - change in consumers' perceptions about products and new aspirations arising from a new generation of buyers. Constant technology up gradation ensures that the Group stays in the global mainstream and maintains its competitive edge. With each of its foreign collaborations, the Group goes onto strengthen its quality measures as per the book. The Group also employs the services of independent experts from around the world to assist in new design and production processes. 20 Diversification Throughout the years of enormous growth, the Group Chairman, Mr. Lall has actively looked at diversification. A considerable level of backward integration in its manufacturing activities has been ample in the Group's growth and led to the establishment of the Hero Cycles Cold Rolling Division, Munjal and Sunbeam Castings, Munjal Auto Components and Munjal Showa Limited amongst other component-manufacturing units. Then there were the expansion into the automotive segment with the setting up of Majestic Auto Limited, where the first indigenously designed moped, Hero Majestic, went into commercial production in 1978. Then came Hero Motors which introduced Hero Pooch, in collaboration with global technology leader Styr Daimler Pooch of Austria. Hero Honda Motors was established in 1984 to manufacture 100 cc motorcycles. The Hero Group also took a venture into other segments like exports, financial services, information technology, which includes customer response services and software development. Further expansion is expected in the areas of Insurance and Telecommunication. The Hero Group's phenomenal growth is the result of constant innovations, a close watch on costs and the dynamic leadership of the Group Chairman, characterized by a culture of entrepreneurship, of right attitudes and building stronger relationships with investors, partners, vendors and dealers and customers 21 22 OBJECTIVE OF THE STUDY 23 a 24 RATIONAL BEHIND THE STUDY rational behind the study is totally depend upon consumer satisfaction and consumer expectation now day the everyone person dreams I have one bike the person think is which bike is choose by me the market number of bike available the customer preference is a following point 1) Brand name 2) Looks 3) Mileage 4) Maintenance 5) services 25 1)_Brand name :The market number of brand available and number of bike brand is some bike is classifieds is very as name the bike brand is choose by age and fashion a)_the age group of 18-30 this age group is more style and more efficiency bike and as well as high speed bike preference b )_the age group of 30-50 is totally moped bike preference because there are many problems changing gear and traffic and rush area that’s the choose moped / without gear bike . 2) LOOK : The bike look is totally depend upon the age group a)_the age group of 18-30 is attractive and hives bike preference b)_the age group of 30-50 is simple and low weight bike the hero Honda two wheeler company the bike customer expectation 1] Splendor 2] Super splendor 3] Splendor plus (+) 4] Splendor pro 3) MILEAGE : The two wheeler bike is most important factor is mileage of the bike more average bike more selling some year ago. a)_ BYK bike is lunch is average 100 km per liter b)_ bajaj CT 100 bike average 100 km per liter above company strategy adopted by hero Honda company 26 27 4)_ MAITANANCE : The every customer expect the low maintenance bike purchase the hero Honda company is low maintenance bike manufacture and this bike spare parts easily available in every place that the customer more preference is hero Honda bike 5)SERVICES : Hero Honda company are more service provide than other company the more service center and skillful worker are available in the hero Honda company not only the bike service provider but the financial service provide the company motive not trebling the customer that’s why every city company distributor and service center as well as financial service are available . 28 HYPOTHESIS Hypothesis is assumption and predicate will future following points will be future indicates the position of the company what to be change ? How to maximum profit? Of the company today depends upon the following points How to consumer satisfaction? Which company strategy adapt to the company? How to change of the company? 1)hero Honda splendor is the biggest tow wheeler producer company in India as well as world 2)hero Honda splendor not only sales the bike as well as consumer satisfaction and day to day modified bike that’s why company profit day by day increase previous year profit and current year profit is more different 3)customer expectations to style and best look of the bike and more efficiency 4)to find out the customer opinions and varies aspects best look of the bike and good average of the bike as well as low maintains cost and resale value because some customer change the bike after one year and new technology developed and bike purchase 5)India is maximum people is middle class family not only India I think is middle class family this people is not more money spend for luxuries things company will provide more finance facilities or low cost bike Example :- proves year TATA company manufacturing very cheap car in world and the name of car is NANO this type of steady adopt by hero Honda splendor bike 6)Tata motors and Bajaj motor will strategy adopt by company automatically sale increase Example :- Tata motor is cheapest car in the world Bajaj motor is more average bike 29 Hypothesis is not a company current position it will be predicate the future above strategy adopt by hero Honda motors definitely hero Honda motors sale also increase and the second economy growth also increase 30 LIMITATION OF THE PROJECT There are bound to be certain limitations in carrying out this research work such as sampling error statistical personal bias etc but an effort is made to obtain maximum authentic result The limitations where as follows 1) assuming peoples populations in vidrbha to be infinite and sample of 400 people students is taken which is not sufficient is taken which is not sufficient but it was very difficult to follow the rules of sampling and resources constraints therefore it has been tried to understand the behavior of the mass so as to get the proper direction for the project with the optimum sample size of 400 but during the analysis only 398 samples were taken 2) the study was largely dependents upon the interview (Questionnaire) with the student so it might have decreased the efficiency of the project 3) the study was focused an one city only and situations might be different in other areas of the nation 4) the survey is subjected to statistical error 5) data collected through questionnaire was qualitative data which may differ form person to person 6) above all human error may also be present as it is the biggest limitations of any study 31 RESEARCHMETHODOLOGY It is well known fact that the most important step in marketing research process is to define the problem. Choose for investigation because a problem well defined is half solved. That was the reason that at most care was taken while defining various parameters of the problem. After giving through brain storming session, objectives were selected and the set on the base of these objectives. A questionnaire was designed major emphasis of which was gathering new ideas or insight so as to determine and bind out solution to the problems. DATA SOURCE Research included gathering both Primary and Secondary data. Primary data is the first hand data, which are selected a fresh and thus happen to be original in character. Primary Data was crucial to know various customers and past consumer views about bikes and to calculate the market share of this brand in regards to other brands. Secondary data are those which has been collected by someone else and which already have been passed through statistical process. Secondary data has been taken from internet, newspaper, magazines and companies web sites. RESEARCH APPROACH The research approach was used survey method which is a widely used method for data collection and best suited for descriptive type of research survey includes research instrument like questionnaire which can be structured and unstructured. Target population is well identified and various methods like personal interviews and telephone interviews are employed. SAMPLING UNIT It gives the target population that will be sampled. This research was carried in Nagpur city.Therewere90respondents 32 DATA COMPLETION AND ANALYSIS After the data has been collected, it was tabulated and findings of the project were presented followed by analysis and interpretation to reach certain conclusions. 33 34 DATA INTERPREATION AND ANALYSIS 35 Q (1) Which bike do you have? Hero Honda 30 Bajaj 30 Any other 30 INTERPRETATION: - Out of the sample size of 90 customers, 30 customers are of Hero Honda, 30 are of Bajaj and 30 customers of TVS bikes are taken into consideration. 36 Q (2) Which Model do you Have? Hero Honda Bajaj TVS Splendor 13 CT 100 5 Flame 4 Passion 5 Discover 11 Star City 9 Karizma 2 10 Apache 7 Any other 10 Pulsa r Any other 4 Any other 10 HERO HONDA INTERPRETATION: - In Hero Honda mostly the customers are having splendor while the ratio of the customers using Passion, Karizma and other bikes are comparatively low. 37 BAJAJ INTERPRETATION: - In Bajaj the customers are giving more preference to Discover and Pulsar models. TVS INTERPRETATION:- In TVS Bikes the customers are giving more preference to the other models rather than Flame,Starcityand Apache. 38 Q(3) In which family Income level do you Fall? 100000-200000 22 200000-300000 45 300000-400000 23 above 400000 10 INTERPRETATION: - The maximum numbers of customers that are using these bikes fall in the income group of 200000-300000. While this ratio is minimum in case of customers whose income level fall between 300000-400000. 39 Q(4) How often do you change your bike? 0-1 year 1-2 year 2-3 year above 3 year 34 29 26 11 INTERPRETATION: - It is observed that mostly the customers are having new bikes. 40 Q(5) For what purpose do you use your Motor Bike? Hero Honda Bajaj TVS 13 42 38 17 15 27 Joy Purpose 10 18 10 Other 40 15 15 Office Purpose Personal purpose INTERPRETATION:- The customers are using their bikes mostly for official and personal purpose. 41 Q(6) How do you come to know about this Motor Bike? Hero Honda Bajaj TVS Newspaper 28 33 22 Television 22 28 18 16 28 13 22 Magazine Friends & Relative 8 37 INTERPRETATION: - It is observed that the awareness of Hero Honda bikes mostly comes from friends while of Bajaj and TVS the awareness comes from newspapers and televisions. 42 Q7 Are you satisfied with the performance of the bike that you are currently having? Yes 55 No 28 Can’t say 7 INTERPRETATION:- Out of the sample size of 90 customers, 55 customers says that they are satisfied with the performance of their bikes. On the other hand 28 customers are not satisfied with the performance of the bikes that they are having. While the remaining 10 customers are unable to say anything. 43 Q (8) Do you have full knowledge about Bikes before buying? Hero Honda Bajaj TVS 42 34 Yes 37 37 27 No Can’t Say 22 11 29 31 INTERPRETATION:- It is observed that most of the customers are having full knowledge of the bike before purchasing. 44 Q (9) Which Factor below Influence your decision? Hero Honda Bajaj TVS Price 17 22 28 Mileage 28 15 15 Quality 11 20 16 Resale Value 12 14 17 Status symbol 32 19 14 HERO HONDA INTERPRETATION:- In Hero Honda bikes the mileage of the bike and the value that it adds to the status symbol of the customers influences the decision criteria of most of 45 BAJAJ INTERPRETATION:- In Bajaj bikes customers gets more influenced by the price and quality of the bike and also they think that it adds value to their prestige. TVS INTERPRETATION: - In TVS bike the economic price of the bikes influences the buying behavior of the customers. 46 Q(10) How would you rate the following factors of Bikes with respect to different Company ? Hero Honda Bajaj Mileage 74% 72% Price 68% 65% 47% Pick up 70% 80% 62% Maintenance Look & Shape Brand Image Pick up 47 58% 62% 85% 80% 53% 55% TVS 68% 74% 72% 69% INTERPRETATION: - It is observed that in rating of different features of different bikes people give maximum rating to the look and shape of the bike. At the second level they give their rating to the pickup. At the third level they rate mileage. And at the fourth level they give points to maintenance. At last they rate price and brand image. 48 Q(11) If new Bike with good features comes in, then would you like to change your bike? Hero Honda Bajaj TVS Yes 10 16 14 No 16 11 11 Can’t say 4 3 5 INTERPREATATION: - It is observed that the customers of Hero Honda bikes are not ready to change their bikes even if a new bike comes in with good features. While majority of the customers of Bajaj and TVS are ready to change their bikes if new bike provides some good features to them. 49 CONCLUTION 1. Most of the Flame, Apache, Pulsar, and CBZ & Karizma are purchased by young generation 18 to 30 years because they prefer stylish looks and rest of the models of Hero Honda, TVS and Bajaj are purchased more by daily users who needs more average of bikes than looks. 2. Hero Honda is considered to be most fuel-efficient bike on Indian roads. 3. Service & Spare parts are available throughout India in local markets also. 4. While buying a motorcycle, economy is the main consideration in form of maintenance cost, fuel efficiency. 5. Majority of the respondent had bought their motorcycle more than 3 years. 50 51 SUGGESTION 1. 2. Bajaj should introduce some more models having more engine power. Hero Honda should think about fuel efficiency in case of upper segment bikes. 3. More service centers should be opened. 4. Maintenance cost and the availability of the spare parts should also be given due importance. 5. They also introduce some good finance/discount schemes for students. 6. 52 The price should be economic. BIBLIOGRAPHY 53 1. Goal B.S., Marketing Research, Meerut, Pragathi Prakashan, 1996. 2. Kothari C.R., Research Methodology, New Delhi, Vikas Publishing House Pvt. Ltd., 1978. 3. Philip Kotler, Marketing Management – The Millennium Edition, New Delhi, Prentice – Hall of India Private Limited, 2001 1. www.herohonda.com 2. www.google.com 3. www.twowheeler.com 54 55