A STUDY ON CUSTOMER SATISFACTION TOWARDS HERO

BIKES AT NANDYAL
A Project Report submitted to
SRI VENKATESWARA UNIVERSITY, TIRUPATI
Submitted in partial fulfilment of the
requirement for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

Submitted by
AVULA SUDHEERKUMAR
(Reg. No: 1982263031)
(2021 - 2023)
Under the Supervision of
Prof. SARDAR GUGLOTH

DEPARTMENT OF MANAGEMENT STUDIES

SRI VENKATESWARA UNIVERSITY
TIRUPATI – 517502
(2021-2023)
 DEPARTMENT OF MANAGEMENT STUDIES

SRI VENKATESWARA UNIVERSITY

TIRUPATI – 517502

CERTIFICATE

This is to certify that the project entitled “A STUDY ON

CUSTOMER SATISFACTION TOWARDS HERO BIKES AT

NANDYAL” is a Bonafide work done by AVULA SUDHEERKUMAR
(1982263031), under the guidance of Prof. SARDAR GUGLOTH in partial
fulfilment of the requirements for the award of the degree in Master of
Business Administration during the academic year 2021-2023 in the
Department of Management Studies, SRI VENKATESWARA
UVIVERSITY, TIRUPATHI

(Prof. SARDAR GUGLOTH)

Head of the Department, Project Guide,
Department of management studies, Department of management studies,
S. V. University, S. V. University,
Tirupati. Tirupati.
 DECLARATION

I do hereby declare that the project report entitled “A STUDY ON

CUSTOMER SATISFACTION TOWARDS HERO BIKES AT
NANDYAL” is record of independent research work and it has been carried out
by me during the period of my study, submitted to SRI VENKATESWARA
UNIVERSITY, TIRUPATI under the supervision of Prof. SARDAR
GUGLOTH, Department of management studies, SRI VENKATESWARA
UNIVERSITY, TIRUPATI.

The award of the degree of MASTER OF

BUSINESS ADMINISTRATION is my original work, has not been
submitted to any other university for the award of any degree.

PLACE: Tirupati AVULA SUDHEERKUMAR

DATE: (Reg. No: 1982263031)

 ACKNOWLEDGEMENT

An endeavour over a long period can be successful only with the advice and
support of many well-wishers. We take this opportunity to express our gratitude
and appreciation for all of them.

My sincere thanks to the My project guide Prof. SARDAR GUGLOTH for the

kind encouragement and constant support extended in completion of this project

work from the bottom of my heart.

I am also thankful to all those who have incidentally helped me, through their

valued guidance, co-operation and unstinted support during the course of my project.

I am beholden to all other faculties, my parents, friends and all the

respondents for their valuable contributions that were the sources of inspiration
and strength for completion of this project work.

Place: Tirupati AVULA SUDHEERKUMAR

Date: (Reg.No:1982263031)
 CONTENTS
S. No Contents Page No.

Chapter - I
1 1.1 introduction 1-11
1.2 Review of literature

Chapter - II
2.1 Industry Profile
2 12-32
2.2 Company Profile
2.3 Products Profile

Chapter - III Design of the

Study
3.1 Need of the Study
3 3.2 Scope of the Study 33-37
3.3 Objectives of the Study
3.4 Research Methodology
3.5 Limitations of the Study

Chapter -IV
4 38-54
Data Analysis & Interpretation

Chapter -V
5 5.1 Findings 55-57
5.2 Suggestions

Chapter – VI
6.1 Conclusions
6 58-63
6.2 Annexure
6.3 Bibliography
A STUDY ON CUSTOMER SATISFACTION TOWARDS HERO BIKES AT NANDYAL

Chapter - I
1.1 Introduction
1.2 Review of Literature

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1.1 INTRODUCTION

The project is all about measuring the customer satisfaction in Hero motors. For the past
few years every company is trying to satisfy its customers. The emphasis is on ways of retaining
customers, then on attracting new customers. It is easy to attract new customers then to retain old
customers. So, companies are trying to focus on this aspect of customer’s satisfaction.

The sale of a product does not end with the sale transaction but it is the point at which the
original marketing concept starts. The marketer has to see that whether the customer satisfied with
that particular product/service or not. The post purchase behavior is important for a marketer. If
there is any cognitive dissonance in the minds of the customers then that is enough to lose a
customer. Keeping this in mind the companies are giving more importance to customer
satisfaction.

This project work has been done to find out whether a customer is satisfied or dissatisfied,
also to measure the level of the customer satisfaction and provide this feedback to the company.
The first phase of the project involves the collection of information from the customers for
interpreting the characteristics based on which the customer feels satisfied or dissatisfied. This
information is collected by preparing a structured questionnaire. The questionnaire consists of
both open-ended and closed-ended questions. The questionnaire is designed in such a way that a
customer feels convenient to answer.

The collated information through the questionnaire is analyzed and presented in a

statistical form. The findings are listed and suggestions to solve problems faced have been given
in the suggestion part.

INTRODUCTION TO CUSTOMER SATISFACTION

Whether the buyer is satisfied after purchase depends on the offers performance in relation
to the buyer expectation. In general satisfaction are a person’s feelings of pleasure or
disappointment resulting from comparing a products perceived performance relation to his/her
expectations. If the performance falls short of expectation, the customer is dissatisfied. If the
performance matches the expectation customer is satisfied. If the performance exceeds the
expectation the customer is highly satisfied.

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Customer satisfaction cannot be very difficult. After all you either satisfied with the
services you receive or you are not. If you don’t you are not. If it is that easy, then obtaining
people's opinion about how satisfied they are with relatively straight forward matter- or is it?
Customer satisfaction is a marketing tool and a definite value added benefit. It is often perceived
by customers as important as the primary product or service your organization offers. It looks at
what is involved from 3 different angles, the first is from the view of an organization wishing to
understand, and measures, how satisfied its customer are with the products and services they
receive from it. The second is from the perspective of a research agency that has been asked to
obtain feedback from customers and about their experiences when dealing with companies. Finally
it considers the issue from the perspective of consumers who participate in surveys, including both
business customers and members of general public

MEANING OF CUSTOMER SATISFICATION

Customer satisfaction is a business term, is a measure of how products and services

supplied by a company meet or surpass customer expectation. It is seen as a key performance
indicator within business and part of the four prospective of balanced score card.

In a competitive market place where businesses compete for customers, customer

satisfaction is seen as a key differentiator and increasingly has become a key element of business
strategy customer satisfaction drives successful private sector business.

High performing businesses have developed principles and strategies for achieving
customer satisfaction. This paper presents a framework or set of ideas for using customer
satisfaction principles and strategies to improve the quality responsiveness, and possibility of
public sector privately provided services in vulnerable communities

The framework suggested that resident who live in tough neighborhoods can be supported
through customer satisfaction strategies to become empowered individuals who informed
perspectives influence decisions about what, how, when, and where services are available to them.

Customer satisfaction is the customer’s response to the evaluation of the perceived

discrepancy between prior expectation and the actual performance of the product as perceived
after its consumption.

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DEFINITION

Cocotte, woodruff and Jenkins (1987) define customer satisfaction as "conceptualized as

a feeling developed from an evaluation of the experience."

HERE, the timing of satisfaction response is driving consumption.

BUT there is general agreement with Kotler (2003) that "customer satisfaction is a person's
feeling of pleasure or disappointment resulting from comparing a products perceived performance
in relation to his or her expectation." In short customer satisfaction is "The provision of goods or
services which fulfill the customer expectation in terms of quality and service, in relation to price
paid."

IMPORTANCE OF CUSTOMER SATISFACTION

It costs at least 7 times more to source a new customer than it does to retain existing one
a 'satisfied' customer tells 5-7 people in a year whilst a 'dissatisfied' customer will tell 14-15
people.

 Companies can boost profits anywhere from 25% to 125% by retaining a mere 5% more
of their exciting customers.
 Totally satisfied customers were 6 times more likely to use those services and commend it
than ' satisfied' customers.
 Customers who have a bad experience with you and do not complain are only 37% likely
to still do business with you.
 Customers who have an opportunity to complain and the complaint is achieved are 95%
likely to still do business with you.

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FACTORS OF CUSTOMER SATISFACTION

1. Service of quality
2. reliability of service
3. knowledge of the staff
4. Being kept informed of progress
5. The way service kept its promises
6. The way the service handled any problem Friendliness of staff
7. How sympathetic staff were to your needs
8. Speed of enquiries
9. Number of times had to contact the service.

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1.2 REVIEW OF LITERATURE

This chapter attempts to review different literatures on customer satisfaction with reference
to two-wheeler industry and presents various studies made regarding the issues related with hotel
industry and customer satisfaction.
CUSTOMER – DEFINITIONS
Paul S. Goldner defines, “…a customer is any organization or individual with which you
have done business over the past twelve months”.
Gregorius’s, E and Siskos, Y (2009) provide definition for ‘customer’ upon two
approaches: With reference to loyalty, “A customer is the person that assesses the quality of the
offered products and services” and on process-oriented approach, “the customer is the person or
group that receives the work output”.
“Customer means the party to which the goods are to be supplied or service rendered by
the supplier”.
CUSTOMER SATISFACTION – DEFINITIONS
Satisfaction has been broadly defined by Vavra, T.G. (1997S) as a satisfactory post-
purchase experience with a product or service given an existing purchase expectation.
Howard and Sheth (1969) define satisfaction as, “The buyer’s cognitive state of being
adequately or inadequately rewarded for the sacrifices he has undergone”.
According to Westbrook and Reilly (1983), customer satisfaction is “an emotional
response to the experiences provided by, associated with particular
products or services purchased, retail outlets, or even molar patterns of behavior such as shopping
and buyer behavior, as well as the overall market place”.
Oliver (1981) put forward a definition as, “the summary psychological state resulting when
the emotion surrounding disconfirmed expectations is coupled with the consumers’ prior feelings
about the consumption experience”.
The definition offered by Hunt (1977) is “an evaluation rendered that the (consumption)
experience was at least as good as it was supposed to be”.
Customer/consumer satisfaction is “an evaluation that the chosen alternative is consistent
with prior beliefs with respect to that alternative”.
Tse and Wilton (1988) define as, “the consumer’s response to the evaluation of the
perceived discrepancy between prior expectations (or some other norm of performance) and the
actual performance of the product/service as perceived after its consumption”.

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Berry and Parasuraman (1991) argue that since customers’ satisfaction is influenced by the
availability of customer services, the provision of quality customer service has become a major
concern of all businesses. Customer satisfaction is typically defined as a post consumption
evaluative judgement concerning a specific product or service. It is the result of an evaluative
process that contrasts pre-purchase expectations with perceptions of performance during and after
the consumption experience. Oliver (1981) defines customer satisfaction as a customer’s
emotional response to the use of a product or service. Anton (1996) offers more elaboration:
“customer satisfaction as a state of mind in which the customer’s needs, wants and expectations
throughout the product or service life have been met or exceeded, resulting in subsequent
repurchase and loyalty”.
Merchant Account Glossary points out that, “Customer satisfaction is an ambiguous and
abstract concept and the actual manifestation of the state of satisfaction will very from person to
person and produce/service to produce/service ”
Schiffman and Kanuk (2004)17 defines customer satisfaction as “The individual’s
perception of the performance of the product or service in relation to his or her expectations”.
Woodruff and Gardian (1996)18 define “Satisfaction, then, is the evaluation or feeling that
results from the disconfirmation process. It is not the comparison itself (i.e., the disconfirmation
process), but it is the customer’s response to the comparison. Satisfaction has an emotional
component.”
According to Hung (1977), “…. satisfaction is a kind of stepping away from an experience
and evaluating it … One could have a pleasurable experience that caused dissatisfaction because
even though it was pleasurable, it wasn’t as pleasurable as it was supposed to be. So satisfaction /
dissatisfaction isn’t an emotion, it’s the evaluation of the emotion”.
Oliver (1977) defines “Satisfaction is the consumer’s fulfilment response. It is a judgment
that a product or service feature, or the product of service itself, provided (or is providing) a
pleasurable level of consumption- related fulfilment, including levels of under- or over-
fulfilment”.Some of the definitions available from web are compiled below: “Customer
satisfaction, a business term, is a measure of how products and services supplied by a company
meet or surpass customer expectation”. “Customer satisfaction is an ambiguous and abstract
concept and the actual manifestation of the state of satisfaction will vary from person to person
and product/service to product/service”.
“Comparison of expectations versus perception of experience”. “A customer’s perception
of the degree to which their requirements have been fulfilled.”

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According to Business Dictionary, customer satisfaction is, “Degree of satisfaction

provided by the goods or services of a firm as measured by the number of repeat customers.”
These definitions suggest that an evaluative process is an important element underlying
customer satisfaction.
MARKETS
The concept of exchange and relationships lead to the concept of a market. A market is the
set of actual potential buyers of a product. These buyers share particular need or want that can be
satisfied through exchange relationships
Marketing means managing markets to bring about profitable customer relationships.
However, creating these relationships take work. Sellers must
search for buyers, identify must first create a need-satisfying marketing offer. It must decide how
much chare for offer (price) and how it will make the offer available target consumers (place).
Finally, it must communicate with the target customers about the offer and persuade them of its
merits (promotions).

MARKETING
Creating customer value and satisfaction are the heart of modern marketing thinking and
practice. Marketing is the delivery of customer satisfaction at a profit.
Many people think of marketing only as selling & advertising. But selling & advertising is
only the tip of marketing. Marketing means managing markets to bring about exchanges and
relationships for the purpose of creating value and satisfying needs & wants.
Today marketing must be understood not in the old sense of making sale –“telling and
selling” – but in the new sense of satisfying customer needs. If the marketer does a good job of
understanding consumer needs develops products that provide superior value and price,
distributes, and promotion them effectively, these products will sell very easily. Thus, selling and
advertising are only part of larger “marketing mix” a set of marketing tools that works together to
satisfy customer needs and build customer relationships.
Broadly defined, marketing is a social and managerial process by which individuals and
groups obtain what they need and want through creating and exchanging value with others. In a
narrower business context, marketing involves building profitable, value – laden exchange
relationships with customers. Hence, we define marketing as the process by which companies
create value for customers and build strong relationships in order to capture value from customers
in return

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CUSTOMER NEEDS, WANTS, AND DEMANDS

The most basic concept underlying marketing is that of human needs. Human needs are
states of felt deprivation. They include basic physical needs for food, clothing, warmth, and
safety: social needs for belonging and affection
and individual needs for knowledge and self – expression. These needs were not created by
marketers: they are a basic part of the human makeup.
Wants are the form human needs take as they are shaped by culture and individual
personality. An American needs food but wants a Big Mac, French fries, and soft drink. A person
in Mauritius needs food but wants a mango, rice, Lentils and beans. Wants are shaped by buying
power, wants become demands. Given their wants and resources, people demand products with
benefits that add up to the most value and satisfaction.

MARKETING MANAGEMENT

The analysis, planning, implementation and control of programs design to create, build and
maintain beneficial exchanges with target buyers for the purpose of achieving organizational
objectives

PRODUCTION CONCEPT

Management should focus on improving production and distribution efficiency. When the demand
for a product exceeds the supply, management should looks for ways to increase production. When
the products cost it too high, improved productivity is needed to bring it down.

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PRODUCT CONCEPT
Consumer will favor products that offer the most quality, performance and innovative
features. Thus, an organization should devote energy to making continuous product
improvements.

SELLING CONCEPTS: Consumer will not buy enough of the organizations products
unless it undertakes large-scale selling and promotion effort.

Factory Existing product Selling and Profits through

promotion sales volume

SELLING
Selling is also important function of marketing. It is the process whereby goods and services
finally flow to the customers who need them. Selling focuses on the needs of the seller.

MARKETING CONCEPT
The marketing concept holds that achieving organizational goals depends on determining the
needs and wants of target markets and delivering the desired satisfaction more effectively and
efficiently than to competitors.

Market customer Integrated Profits through

satisfaction
needs marketing customer

Marketing means obtaining customers. Marketing focuses on the needs of the

purchaser. Makes profits by creating long term customer relationship based on customer value and
satisfaction.

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SOCIETAL CONCEPT
The societal marketing concept holds that the organization should determine the needs,
wants and interests of target market.

MARKETING MIX (4’PS)

Marketing mix includes the set of controllable, tactical marketing tools in the target market

1.Product means the goods and services combination the company offer to the target
market. Ex: Nuts, Bolts, Spark plugs, Pens & Pencils etc.
2.Price is the amount of money customers have to pay to obtain the product.
3.Place includes company activities that make the product available to target consumers.

4.Promotion means activities that communicate the merits of the product and persuadecustomers to
buy it. Ford spends money each year for advertising to tell consumers about the company and its
product.

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Chapter - II
2.1 Industry Profile
2.2 Company Profile
2.3 Products Profile

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2.1 INDUSTRY PROFILE

The Indian two-wheeler contributes the largest volume amongst all the segments in
automobile industry. Though the segment can be broadly categorized into 3 sub-segments viz.
scooters, motorcycles and mopeds; some categories introduced in the market are a combination of
two or more segments e.g., scooters and step-thru. The market primarily comprises five players
in the two-wheelers segment with the most of the companies having foreign collaboration with
well-known Japanese firms earlier. But most of the companies are now planning 100%
subsidiaries in India. And growth anticipated is higher than the 16 percent achieved in the past 10
years
The automobiles sector is divided into four segments-two wheelers(mopeds, scooters,
motorcycles, electric two-wheelers), passenger vehicles (passenger cars, utility vehicles, multi-
purpose vehicles), commercial vehicles (light and medium-heavy vehicles), and three wheelers
(passenger carriers and good carriers).
The industry is one of the key drivers of economic growth of the nation. Since the
globalization of the sector in 1991 and the subsequent opening up of 100 percent FDI through
automatic route, Indian automobile sector has come a long way. Today, almost every global auto
major has set up facilities in the country.
The world standings for the Indian automobile sector, as per the Confederation of Indian
Industry, are as follows:

 Largest three-wheeler market

 Second largest two-wheeler market
 Tenth largest passenger car market
 Fourth largest tractor market
 Fifth largest commercial vehicle market
 Fifth largest bus and truck segment

The sector has shown a sluggish growth of 12 percent in 2013. The trend is likely to stay with
a 10 percent growth outlined for 2014 citing high ownership costs (fuel costs, cost of registration,
excise duty, road tax) and slow rural income growth. Solid but cautious growth is expected over
the next few years. However, from a long-term perspective, rising incomes, improved affordability
and untapped markets present promising opportunities for automobile manufactures in India.

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According to Macquarie equities research, sale of passenger vehicles is expected to double in the
next four years

Two-Wheeler & its role in Indian Context:

As the cities grow & suburbs expand, transportation needs becoming more & more acute,
with mounting pressure on its public transportation for which two wheelers are ideal.

The two-wheeler Industry today has a significant role in the Indian economy, with an
annual turnover of Rs. 9000 crores and compounded average growth of 10%. In recent years, it
is of the few industrial sectors in the growth phase today considers personal transportation as one
of the basic needs.

The two-wheeler industry basically comprises mopeds, scooters, scooters and motorcycles.
Mopeds are basic entry-level products aimed at lower/middle income groups, offering company.
This category dominated by TVS AND SUZUKI, which has a market share of 50% today. The
other major players in this segment include KINETIC ENGG., HERO MOTORS and BAJAJ
AUTO.

Scooters, which found largest segment in the industry (37 percent) is dominated by BAJAJ
AUTO. It is however facing stiff competition from LML, which offers better style and technology
to the Indian customers. However, dominance of this ANDcategory has been declining because of
shift in the customer preferences.

Major part of the growth in the two-wheeler industry has come from motorcycle especially,
the Indo-Japanese 100cc motorcycles, which are considered, fuel efficient, reliable and suited for
rough roads.

Scooters also growing at a fast phase and are being increasingly perceived as a better option
providing convenience and motor style, by urban customers. In this category, TVS Scooty holds
a dominant market share.

With sales of over three million vehicles, India is the second largest two-wheeler market
in the world. Vehicle has become a necessity for day-to-day busy life, with the accelerated
industrial and business activity in a liberalized environment. However, given the limited

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purchasing power and to high cost of cars, majority of the middle-class vehicle users prefer two
wheelers.

With sales of over million vehicles, India is the second largest two-wheelers market in the
world. China is the market leader with around 51 percent of the Asia Market, India, Thailand;
Indonesia & Taiwan are the other key markets for two-wheelers with market share of 19 percent,
10 percent, 9 percent and 5 percent respectively.

In the last four to five years, the two-wheeler market has witnessed a market shift towards
motorcycles at the expense of scooters. In the rural areas, consumers have come to prefer sturdier
bikes to withstand the bad road conditions. In the process the share of motorcycle segment has
grown from 48% to 58%, the share of scooters declined drastically from 33% to 25%, while that
of mopeds declined by 2% from 19% to 17% during the year 2000-01. The Euro emission norms
effective from April 2000 led to the existing players in the two-stroke segment to install catalytic
converters. 4-stroke motorcycles are now replacing all the new models. Excise duty on
motorcycles has been reduced from 32% to 24%, resulting in price reduction, which has aided in
propelling the demand for motorcycles. Fierce competition has also forced players to cut prices
of certain models.

Competition has intensified over the last couple of years altering the dynamics in the
motorcycle segment with various companies planning to cash in on this spurt in demand by calling
off their JVs like Suzuki Motors planning to break off with TVS. Recently, Honda Corporation
of Japan announced its intentions to set up a 100% subsidiary to manufacture scooters and
motorcycles. Other players in the two-wheeler industry include Bajaj Auto Ltd., Kinetic Motor
Co.Ltd. LML and Escorts Yamaha. Low interest regime has helped in reducing cost of loans,
which will help in boosting sales of 2-wheelers, since 80% of the two-wheelers are credit –
stimulated.

The two-wheeler industry is passing through a critical but interesting phase. For many
years, it was growing continuously but the turning point came in 1996=97 when it started slowing
down. The impact was really (MI) felt in the next year when the overall growth was hardly two
percent. This was also possible only because the motorcycle segment showed a healthy growth of
15 percent. The scooter segment went down by 3 percent and mopeds by 6 percent.

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Another highlight is that the motorcycle sales have surpassed the scooter sales for the first
time in 1998-99. Until then, motorcycle sales were always trailing behind.

The net result is that motorcycles now account for 41 percent of the two-wheeler market,
while scooters account for 36 percent. Mopeds have been able to hold their own at about 21
percent.

GROWTH OF MOTORCYCLES

It is therefore not surprising that every major player is trying to get into the Motorcycle
market to have a piece of the cake.

Hero MotoCorp Ltd is indisputable the leader with 38 percent share followed by Bajaj with
27 percent (includes M-80), TVS at 19 percent and Escorts at 13 percent. Now LML and Kinetic
have announced their plans to manufacture motorcycles, which are likely to come in the market
by next year. The battle is expected to be fierce but the consumer will be the greater beneficiary.

The growth in motorcycles is slowly losing its hold. It is considered a family vehicle but
perhaps there is competition from the second-hand car markets where prices have fallen down
rapidly. A1992 Maruti 800 is now available for just 70,000.

The scooter manufactures have to watch this phenomenon and bring our many new product
variants in the right price slots to sustain their shares in the market. The moped market has been
steady with an average growth of 3 percent. It is dominated by TVS which holds 48 percent market
share followed by Kinetic and Majestic Auto at 23 percent and 18 percent respectively.

In each segment, there is a wide gap between the first two contenders, which makes their
products positioning and marketing strategies most interesting. The two wheelers market seems to
be maturing. There are the usual their conventional segment of scooters, mopeds and motorcycles.
Two new segments are being created.

NEW SEGMENTS
A Step is through segment like Kinetic K4-100, Honda Street, Bajaj M-80, which is quite
close to the motorcycle segment. The other segment is scooterettes or mini scooters in which
vehicles such as Kinetic SX/Style, TVS Scooty, Hero Winner, Bajaj Sunny/Sprite/Safire and LML
trendy can be considered. These are vehicles under 75cc and largely targeted at the youth market

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such as college students, young boys an65+d girls and new couples. They get the advantage of
lower excise duty at 16 percent as compared to 24 percent applicable over 75 cc. The trend is
towards push button start vehicles.

Among the majors in the two-wheeler industry, first quarter figure for the current year of some
players has been encouraging. The company sold 313,303 units last month as compared to 325,360
units in the same month last year. With this, BAL has recorded as 87 percent growth in the
motorcycle segment in the first quarter with sales of 130,577 units (93,631 units in the
corresponding period last year) BAL estimates market share of the first quarter-Geared scooters
75.9%, unguarded scooters- 16.5%, Step-thrus-72.3% and motorcycle-20.5%.

In the scooters segment, sales of Bajaj Sunny and Bajaj Spirit increased by 170 percent to
7,876 units. First quarter sales registered an impressive 78 percent growth with sales of 19,562
(10,995 units). The overall sales grew by 9.3 percent in the quarter when the company sold 3.24
lakh vehicles.

BAL however reported a decline in sales of scooters by 15.6 percent in the first quarter.
The company hopes to increase the share of motorcycle in its product basket from 18 percent last
year to 30 percent by 2003-04.

Hero MotoCorp Ltd enjoys tremendous brand equity in the motorcycle segment.

Kinetic Motors, another important player, managed to grow in 1999-2000, when the
scooters segment a whole slipped by around 5 percent. TVS Suzuki, a motor two-wheeler market,
has reported a growth of 13 percent in the first quarter period and sold 2.19 lakh units. Sales of
motorcycles and scooters were up by 18 percent and that of mopeds by 8 percent over the same
period last year.

The current year therefore promises to be a testing time for the two-wheeler industry.
Industry pundits feel that an overall growth rate of 5 percent should be possible as against 9 percent
projected earlier. The sales volume therefore is expected to be around 3.8 million in 2000-2001.

DRAMATIC CHANGES:

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Hero MotoCorp is now world’s largest manufacturer of two-wheelers. The company has benefited
from the demand shift to motorcycles, as it focuses solely on this product segment (although has
a product called Pleasure in Scooter segment). With fuel efficiency and riding comfort as the main
selling points, HMC has been able to address a wide market and post robust sales growth even
after its separation from the Japanese major Honda.

The coming years will see increasing competition due to the parity in products and
price. The only differentiators will be technology, quality, product range and service. Imaginative
marketing will emphasize relationship building, customer satisfaction and relationship. All is
exploring new techniques such as direct marketing and institutional sales. Some of them are taking
the vehicle actually to the customer’s doorstep. Now the customer is the king.

HISTORICAL DEVELOPMENT OF TWO-WHEELER INDUSTRY

India is the second largest manufacturer and producer of two-wheelers in the world. It
stands next to Japan and China in terms of the number of two-wheelers produced and domestic
sales respectively. This distinction was achieved due to variety of reasons as if respective policy
followed by the Government of India towards the passenger car industry, rising demand for
personal transport, inefficiency in the public transportation system etc.,

In Indian two-wheeler, industry made a small beginning in the early 50s when Automobile
Products of India (API) started manufacturing scooters in the country. Until 1958, API and Enfield
were the sole producers.

In 1948, Bajaj Auto began trading in imported Vespa scooters and three wheelers. Finally,
in 1980, it setup a shop to manufacture them in technical collaboration with Piaggio of Italy. The
agreement expired in 1971.

In the initial stages, API it was later overtaken by Bajaj Auto dominating the scooter
segment. Although various Government and Private enterprises entered the fray for scooters, the
only new player that has lasted until today is LML.

Under the regulated regime, foreign companies were not allowed to operate in India. It was
a complete seller market with the waiting period for getting a scooter from Bajaj Auto being as
high as 12 years.

The motorcycles segment was no different, with only three manufacturers via Enfield,

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Ideal Jawa and Escorts. While Enfield bullet was a four-stroke bike, Jawa and the Rajdoot were
two-stroke bikes. Enfield 350cc bikes and Escorts 175cc bike initially dominated the motorcycle
segment.

The two-wheeler market was opened to foreign competition in the mid 80’s. And then
the market leaders-E5corts and Enfield- were caught unaware by the onslaught of the 100 cc bikes
of the four IndoJapanese joint ventures. With the availability of fuel-efficiency low power bikes,
demand swelled resulting in Hero Honda is the only producer of four-stroke bikes (100cc
category), gaining a top slot.

The first Japanese motorcycles were introduced in the early eighties. TYS Suzuki and Hero
Honda brought in the first two-stroke and four-stroke engine motorcycles respectively. These two
players initially started with assembly of CKD kits, and later on progressed to indigenous
manufacturing. In the 90’s the major growth for motorcycle segment was brought in by Japanese
motorcycles, which grew at a rate of nearly 25% CAGR in the last five years.

The industry had a smooth ride in the 50’s, 60’s and70’s when the government prohibited new
entries and strictly controlled capacity expansion. The industry saw a sudden growth in the 80’s.
The industry witnessed a steady growth of 14% leading to a peak volume of 1.9mm vehicles in
1990.

The entry of Kinetic Honda in mid-eighties with a variometric scooter helped in providing
ease of use to the scooter owners. This helped in inducing youngsters and working women towards
buying scooters, who were earlier inclined towards moped purchases. In line with this, the scooter
segment has consistently lost its part of the market share in the two~whee1er market.

The reasons for recession in the sector were the incessant rise in fuel price, high input costs
and reduced purchasing power due to significant rise in general price level and credit crunch in
consumer financing. Factors as if increased production in 1992, due to new entrants coupled with
the recession in the industry resulted in either company reporting losses or fail in profits. India is
one of the very few countries manufacturing three wheelers in the world. It is the world’s largest
manufacturer and seller of three wheelers. Bajaj Auto commands a monopoly in the domestic
market with a market share of above 80%; Bajaj Tempo, Greaves Ltd and Scooters in India share
the rest.

The total number of registered two-wheelers and three-wheelers on road in India, as on

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March 1998 was 27.9nm and 1 .7nin respectively. The two-wheeler population has almost doubled
in 1996 from a base of 12.6mn in 1990.

PENETRATION OF TWO-WHEELERS:

On a base of around 28mn vehicles on Indian roads and around 175mn households, there
were only 160 motorized two-wheelers per thousand households in FY98. This compares poorly
with countries like Thailand where it is around 600 per thousand households. Also with a
household size of 5.5 persons and more than one wage earner in about 60% of the households, the
potential for a second vehicle demand is also good.

The number of households in the low-income group has fallen since FY86 and has been
more pronounced in the post-reform period. On the other hand, the number of households in the
middle, upper middle and high-income groups that form the consumer base for two-wheelers, have
increased. Their share of the total number of households has increased from 10.6% in FY88 to
20.5% inFY96. This rising income profile however, has, been more pronounced in the urban areas
as average annual growth in industry surpassed that of agriculture in the period FY93 to FY96.

The Indian two-wheeler industry is highly concentrated,

with four players-

• Hero MotoCorp motors Ltd., (HMML),

• Bajaj Auto Ltd., (Bajaj Auto)

• TVS Motor Company Ltd., (TVS)

• Honda Motor Ltd., (HML)

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2.2 COMPANY PROFILE

Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.) is the world's largest
manufacturer of two - wheelers, based in India.

In 2001, the company achieved the coveted position of being the largest two-wheeler
manufacturing company in India and also, the 'World No.1' two-wheeler company in terms of unit
volume sales in a calendar year. Hero MotoCorp Ltd. continues to maintain this position till date.

Hero MotoCorp is now world’s largest manufacturer of two-wheelers. The company has
benefited from the demand shift to motorcycles, as it focuses solely on this product segment
(although has a product called Pleasure in Scooter segment). With fuel efficiency and riding
comfort as the main selling points, HMC has been able to address a wide market and post robust
sales growth even after its separation from the Japanese major Honda.

VISION

The story began with a simple vision– the vision of a mobile and an empowered India,
powered by its bikes. Hero MotoCorp Ltd., company’s new identity, reflects its commitment
towards providing world class mobility solutions with renewed focus on expanding company’s
footprint in the global arena.

MISSION

Hero MotoCorp's mission is to become a global enterprise fulfilling its customers' needs
and aspirations for mobility, setting benchmarks in technology, styling and quality so that it
converts its customers into its brand advocates. The company will provide an engaging
environment for its people to perform to their true potential. It will continue its focus on value
creation and enduring relationships with its partners.

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STRATEGY

Hero MotoCorp's key strategies are to build a robust product portfolio across categories,
explore growth opportunities globally, continuously improve its operational efficiency,
aggressively expand its reach to customers, continue to invest in brand building activities and
ensure customer and shareholder delight.

MANUFACTURING

Hero MotoCorp two wheelers are manufactured across three globally benchmarked
manufacturing facilities. At present, Hero MotoCorp has three manufacturing facilities- at
Gurgaon and Dharuhera in Haryana and Haridwar in Uttarakhand. Other plants are Neemrana in
Rajasthan, Halol in Gujarat and 6th plant will be in SOUTH INDIA (SRI CITY, A.P) starts at next
year.

TECHNOLOGY

In the 1980's the Company pioneered the introduction of fuel-efficient, environment

friendly four-stroke motorcycles in the country. It became the first company to launch the Fuel
Injection (FI) technology in Indian motorcycles, with the launch of the Glamour FI in June 2006.

Its plants use world class equipment and processes and have become a benchmark in
leanness and productivity.

Hero MotoCorp, in its endeavor to remain a pioneer in technology, will continue to

innovate and develop cutting edge products and processes.

DISTRIBUTION

The Company's growth in the two-wheeler market in India is the result of an intrinsic
ability to increase reach in new geographies and growth markets. Hero MotoCorp's extensive sales
and service network now spans over to 5000 customer touch points. These comprise a mix of
authorized dealerships, service & spare parts outlets and dealer-appointed outlets across the
country.

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SUPPLY CHAIN MANAGEMENT

As the Company prepares to produce a wider range of products, efforts are being taken to
align the supply chain and prime up its supplier base. During the year, the Company kick-started
the process of migrating its existing brands to the new brand. The exercise is expected to be
completed during 2012-13.

During the year, the Company also commenced the process of working with its vendors to
develop new parts. The Company’s Supply Chain Management function is built on three planks:

 Cost
 Quality
 Sustainability

Tracking inventory cost effectively and efficiently is known to be a key source of

competitive advantage in the automobile industry. Hence, it comes as no surprise that cost
leadership is the Company’s prime focus area. Continual pressure on margins forced the Company
and its supply chain partners to find innovative and alternate ways to combat inflation.
Considerable attention was given to managing component inventory in the system, with double-
digit growth in inventory turnover. To align HR processes with the supply chain, top two HR
consulting firms in India are working with supply chain partners. The exercise is aimed at
improving robustness of people processes and resulting in a direct impact on quality, cost,
productivity, delivery and reliability. The move will enable supply chain partners move to the next
orbit of operational excellence. The Company initiated more than 30 quality improvement projects
with supply chain partners to provide better quality products to customers.

BRAND

The new Hero is rising and is poised to shine on the global arena. Company's new identity
"Hero MotoCorp Ltd." is truly reflective of its vision to strengthen focus on mobility and
technology and creating global footprint. Building and promoting new brand identity will be
central to all its initiatives, utilizing every opportunity and leveraging its strong presence across
sports, entertainment and ground- level activation.

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BOARD OF DIRECTORS

Dr. Pawan Munjal Mr. Pradeep Dinodia Mr. Suman Kant Munjal Mr. Vikram S Kasbekar
Chairman and CEO Non-Executive Directo Non-Executive Director Executive Director

Prof. Jagmohan Singh Raju Ms. Tina Trikha Air Chief Marshal B. S. Dhanoa (Retd)
Non-Executive and Non-Executive and Non-Executive and
Independent Director Independent Director Independent Director

Ms. Camille Tang Mr. Rajnish Kumar Ms. Vasudha Dinodia

Non-Executive and Non-Executive and Non-Executive Director
Independent Director Independent Director

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Dr. Brijmohan Lall Munjal

Mr. Munjal is the founder Director and Chairman of the Company and the
$3.2 billion Hero Group. He is the Past President of Confederation of Indian Industry (CII),
Society of Indian Automobile Manufacturers (SIAM) and was a Member of the Board of the
Country's Central Bank (Reserve Bank of India). In recognition of his contribution to industry,
Mr. Munjal was conferred the Padma Bhushan Award by the Union Government.

LEADERSHIP TEAM

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Corporate Governance

At Hero MotoCorp, it is the firm’s belief that the essence of Corporate Governance lies in
the phrase ''Your Company''. It is ''Your'' Company because it belongs to you - the shareholders.
The Chairman and Directors are ''Your'' fiduciaries and trustees. Their objective is to take the
business forward in such a way that it maximizes ''Your'' long-term value.

This Company is committed to benchmarking itself with global standards for providing
good Corporate Governance. It has put in place an effective Corporate Governance System which
ensures that the provisions of Clause 49 of the Listing Agreement are duly complied with.

The Board has also evolved and adopted a Code of Conduct based on the principles of Good
Corporate Governance and best management practices being followed globally.

HEADQUARTER AND BRANCHES

Corporate & Registered Office

Hero MotoCorp Ltd.

34, Community Centre, Basant Lok, Vasant Vihar, New Delhi - 110057, India.
Tel: +91-11-26142451, 26144121
Fax: +91-11-26143321, 26143198

Zonal Offices
East Zone
Hero MotoCorp Ltd
3F, Neelamber Building, 28B, Shakespeare Sarani, Third Floor, Kolkata - 700017, India.
Tel: +91-33-22810926 22810927, 22808922, 22811185
Fax: +91-33-22808923
Email: [email protected]

West Zone
Hero MotoCorp Ltd.
15-A, Bhale Estate, Rear Wing, Third Floor, Pune-Mumbai Road,

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Wakadewali Pune - 411 003, India.

Tel: +91-20-25511577, 25512161, 56012990-91
Fax: +91-20-25511266
Email: [email protected]

North Zone
Hero MotoCorp Ltd.
F-126, Katwaria Sarai, Opp. Qutab Institutional Area,
New Delhi -110016, India.
Tel: +91-11-26533981-2, 47619300
Fax: +91-11-26533983
Email: [email protected]

South Zone
Hero MotoCorp Ltd.
No - 294, 2nd Floor, 6th Main, Off 100 ft Road, HAL 2nd Stage,
Indira Nagar, Bangalore – 560038, India.
Tel: +91-80-25550430, 25584436, 25582436, 25321139
Fax: +91-80-25594036
Email: [email protected]

GRADING POSITIVES
Market leadership, strong brand equity, professional management, high operating
efficiency and established scale economies. Strong financial profile characterized by healthy
margins, high profitability and cash generation. Potential upsides to our estimates:
(1) HMCL sustains its current market share, leveraging its brand equity, product performance and
distribution strengths;
(2) industry growth exceeds our estimates over the medium term despite existing concerns on
macro-economic scenario;
(3) HMCL betters the margins estimated by us via sustained business growth and increases in
operating efficiency even in the face of competitive and cost pressures.

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GRADING SENSITIVITIES
Key sensitivities to our estimates include:
(1) Inflation in input costs not being neutralized by price increases because of competitive
pressures;
(2) High concentration on Executive segment;
(3) Intensifying competition from global players;
(4) Ability to develop in-house technical capability or form alternate technical tie-ups with
external institutions.

Awards & Recognitions on 2021 and 2022

 Green Pioneer Award - 2022

 "Business Leader of the Year" Award by Hon'ble President of India, Shri. Pranab Mukherjee, at
the AlMA Managing India Awards 2022 on April 11, 2022 (Conferred on Mr. Pawan Munjal)
 "Business Leader of the Year" Award in the Auto (Two Wheelers) category by Deputy
Chairman of the Planning Commission Mr. Montek Singh Ahluwalia, at the NDTV Business
Leadership Awards 2022(Conferred on Mr. Pawan Munjal)
 CFO of the year Award (Conferred on Mr. Ravi Sud)
 Business Leader in Automobiles (two-wheelers) at the NDTV Profit Business Leadership
Awards 2021 (Conferred upon Mr. Pawan Munjal)
 Best value for Money Bike Maker and Best Advertising in Two Wheelers Category at the Auto
India Best Brand Awards 2021
 Digital Advertiser of the year at the Indian Digital Media Awards (IDMA) 2021
 Three awards (Launch Event of the year, Rural Engagement Progamme and Live Patron Award
for Marketing Excellence) at the WOW Awards organized by Event FAQs
 Advertiser of the year 2021 by Indian Digital Media Awards 2021
 Innovation in Loyalty Marketing Award (Initiative: Hero GoodLife Utsav) by Colloquy Loyalty
Awards
 TPM Excellence Award 2021 by JIPM (Japan Institute of Plant Maintenance)
 Best Learning & Development Award
 Asias Third Best Employer Brand Award
 ET Now Talent & HR Leadership Award
 8th Recruiting and Staffing Best-in-Class Award
 Global HR Excellence Award
 India Human Capital Award by Human Capital

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 Business Technology Excellence Awards 2021

 Business Technology Innovation Awards 2021
 Top Green IT Enterprise Award
 IT Transformers Award
 Quality Circle Excellence Award at National QC Convention – 2021

PORTFOLIO OF PRODUCTS

Hero MotoCorp offers wide range of two-wheeler products that include motorcycles and scooters,
and has set the industry standards across all the market segments.

100cc Bike category

 SPLENDOR PLUS
 SPLENDOR NXG
 SPLENDOR PRO
 PASSION PRO
 PASSION XPRO
 MAESTRO
 PLEASURE
 HF DAWN
 HF DELUXE

125cc
Bike category
 GLAMOUR
 SUPER SPLENDOR
 IGNITOR
 Glamour PGM FI

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150cc
Bike category

 ACHIEVER
 KARIZMA
 KARIZMA ZMR
 IMPULSE
 HUNK
 XTREME

Termination of Honda joint venture

In December 2010, the board of directors of the Hero Honda Group has
decided to terminate the joint venture between Hero Group of India and Honda of Japan in a
phased manner. The Hero Group would buy out the 26% stake of the Honda in JV Hero
Honda. Under the joint venture Hero Group could not export to international markets (except Sri
Lanka) and the termination would mean that Hero Group can now export. Since the beginning,
the Hero Group relied on their Japanese partner Honda for the technology in their bikes. So there
are concerns that the Hero Group might not be able to sustain the performance of the Joint Venture
alone.

The Japanese auto major will exit the joint venture through a series of
off market transactions by giving the Munjal family—that held a 26% stake in the company—an
additional 26%. Honda, which also has an independent fully, owned two-wheeler subsidiary—
Honda Motorcycle and Scooter India (HMSI)—will exit Hero Honda at a discount and get over
$1 billion for its stake. The discount will be between 30% and 50% to the current value of Honda's
stake as per the price of the stock after the market closed on Wednesday.

The rising differences between the two partners gradually emerged as an

irritant. Differences had been brewing for a few years before the split over a variety of issues,
ranging from Honda's reluctance to fully and freely share technology with Hero (despite a 10-year
technology tie-up that expires in 2014) as well as Indian partner's uneasiness over high royalty
payouts to the Japanese company. Another major irritant for Honda was the refusal of Hero

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Honda (mainly managed by the Munjal family) to merge the company's spare parts business
with Honda's new fully owned subsidiary Honda Motorcycle and Scooter India (HMSI).

As per the arrangement, it will be a two-leg deal. In the first part,

the Munjal family, led by Brijmohan Lal Munjal group, will form an overseas-incorporated special
purpose vehicle (SPV) to buy out Honda's entire stake, which will be backed by bridge loans. This
SPV would eventually be thrown open for private equity participation and those in the fray
include Warburg Pincus, Kohlberg Kravis Roberts (KKR), TPG, Bain Capital, and Carlyle
Group.

Honda will continue to provide technology to Hero Honda motorbikes until 2014 for
existing as well as future models.

Hero MotoCorp Ltd formed a joint venture with Magneti Marelli to develop and
manufacture new fuelling systems.

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MARKET SHARE FOR 1ST QUARTER FINANCIAL YEAR 2021-22

42.29

24.02

12.64 12.37

3.51 3.35
1.82

HERO HONDA T.V.S BAJAJ YAMAHA ROYAL 0THERS

ENFIELD

 HERO MOTOCORP shows that it’s a market leader for 1st quarter financial year 2021.
 Though it lost 2.23% of its share for the year ended December 2021, still it is market leader
in India.

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Chapter - III
Design of the Study
3.1 Need of the Study
3.2 Scope of the Study
3.3 Objectives of the Study
3.4 Research Methodology
3.5 Limitations of the Study

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3.1 NEED FOR THE STUDY

Marketing starts with identifying the needs of customers and ends in satisfying those
wants. The goal of marketing is to attract new customers by promising superior value and to keep
current customers by delivering satisfaction based on their preferences retaining them.

Without customer, no market exists. As the customers are regarded as the superiors in
today’s market, the level of satisfaction and their preferences should be keenly studied.

The two-wheeler industry has been expanding rapidly. Gone are the days when
possessing a two-wheeler was seen as a luxury. Now days, it is viewed as a mere necessity.

Prior, sale of two-wheelers was mainly confined to urban areas but lately in rural
areas the bicycles are being replaced by power driven two-wheelers such as scooters, motorcycles.
Not only this, this industry has also customers ranging from all demographic
segments. It has been common sights that even school going children are driving two-wheelers.
The women customers are also increasing due to increase in women literacy and employment.
Getting a new customer is difficult, then retaining a current customer is a more
difficult one and not only that it is estimated that the cost of attracting a new customer is five times
the cost of retaining current customer. It requires a great deal of effort to induce satisfied customer
to switch away from their current preference. Thus, customer satisfaction is been given top
priority in today’s competitive world.
Therefore, keeping the above stated objective in mind, this study was conducted to
ascertain the customer’s satisfaction towards Hero two-wheelers in Hero MotoCorp Ltd. In view
of this, a detailed study of customer preferences, levels of satisfaction and their complaints and
suggestions was undertaken.

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3.2 SCOPE OF THE STUDY

• From the study, we can recognize the market of the other competitors and consequently
formulate a strategy to enhance the market.
• This study will help us to understand customers preference and their needs expected from
the business owners.
• This study will not only help me as a student but it also assists Hero MotoCorp Ltd
company to improve their service standard.

3.3 OBJECTIVES OF THE STUDY

 To measure the satisfaction levels of customers of Hero MotoCorp.
 To analyze the customer satisfaction on price of Hero MotoCorp Ltd company products.
 To analyze the satisfaction level of customers on after sales service.
 To analyze the delivery services of product in Hero MotoCorp Ltd Company.

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3.4 RESEARCH METHODOLOGY

METHODOLOGY OF THE STUDY

The information required for this study obtained was basically through two sources.

Primary Data:

Primary Data has been gathered by a survey through a structured questionnaire.

Secondary Data:

Secondary Data comprises of information obtained from annual reports, brochures,

manuals websites etc.

Research design : Descriptive research

Research approach : Survey Method

Research instrument : Structured Questionnaire

Sampling Unit : Public of Tirupati area

Sample size : 100

Sample technique : Convenience Sampling

Statistical tool : Chi-square test, Percentage analysis,

bar charts, pie-charts.

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3.5 LIMITATIONS OF THE STUDY

I have observed the following limitations in the course of my study.

1. The areas which were selected were limited only to NANDYAL i.e., the findings are regional
and do not represent the state or country.

2. Time constraints hampered the study.

3. There may be respondent’s bias.

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Chapter -IV
Data Analysis & Interpretation

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DATA ANALYSIS AND INTERPRETATION

1. SELECTED MODELS TO STUDY SATISFACTION LEVELS

OF THE HERO MOTOCORP

1. SPLENDOR PLUS
2. GLAMOUR
3. HF DELUXE
4. PLEASURE
5. PASSION XPRO
6. XTREME
7.HUNK
8. IMPULSE

Series 1
35

30

25

20

15

10

0
SPLENDOR GLAMOUR HF DELUXE PLEASURE PASSION XTREAME HUNK IMPULSE
PLUS XPRO

Inference:

Selection of the model is based on the sales. Splendor plus glamour, HF Deluxe &
pleasure having good sales and Passion Xpro, Xtreme, Hunk & Impulse having low sales to the
particular area.

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2. AGE OF RESPONDENTS

AGE (years) No. of respondents

18-25 25

25-30 36

> 30 39

45

40

35

30

25

20 39
36
15
25
10

0
18-25 25-30 >30

Inference:

Most of the respondents are above 30 years. Because in the NANDYAL area, most of
the people who are using Hero Bikes are employees rather than students.

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3. CUSTOMERS INCOME PER ANNUM

IINCOME No. of respondents

Less than 2 lakhs 36

2-3 lakhs 28

3-4 lakhs 26

Greater than 4 lakhs 10

40

35

30

25

20
36
15
28
26
10

5 10

0
< 2 lakhs 2-3 lakhs 3-4 lakhs > 4 lakhs

Inference: -

Most of the respondents having below 2 lakhs annual income. Hero Bikes basically
targeting middle class families. They are succussed in the NANDYAL area.

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4. PERFORMANCE LEVEL OF YOUR BIKE COMPARING WITH

OTHER COMPANNIES

SATISFACTION LEVEL No. of respondents

Satisfied 42

Highly satisfied 39

Indifferent 05

Dissatisfied 09
Highly dissatisfied 05

SATISFACTION LEVEL
45

40

35

30

25

20

15

10

0
Satisfied Highly Satisfied Indifferent Dissatisfied Highly Dissatisfied

SATISFACTION LEVEL

5. Inference:
81% of the customers are satisfied with the performance of hero bikes when
comparing with other companies.

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5. SATISFACTION LEVELS OF CUSTOMERS REGARDING MILEAGE

SATISFACTION LEVEL No. of respondents

Satisfied 48

Highly satisfied 33

Indifferent 02

Dissatisfied 11
Highly dissatisfied 06

60

50

40

30
48
20
33
10
11
6
0 2
satisfied Highly satisfied Indifferent Dissatisfied Highly
dissatisfied

Inference:

81% of the customers are satisfied. Because hero bikes having most of the customers from
villages. And it always targets families. Almost 95% of bikes are having above 50 kms mileage.

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6. SATISFACTION LEVELS OF CUSTOMERS BASED ON STYLE

SATISFACTION LEVEL No. of respondents

Satisfied 28

Highly satisfied 15

Indifferent 12

Dissatisfied 15
Highly dissatisfied 30

35

30

25

20

15 30
28

10
15 15
12
5

0
satisfied Highly satisfied Indifferent Dissatisfied Highly
dissatisfied

Inference: -

57% of the customers are dissatisfied. One of the reason, Hero bikes are concentrating on
Aero Dynamics concept. That may be the reason almost every bike from splendor plus to ismart
having same model of DOOM.

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7. SATISFACTION LEVEL ON PICKUP OF VEHICLE

SATISFACTION LEVEL No. of respondents

Satisfied 28

Highly satisfied 20

Indifferent 8

Dissatisfied 23
Highly dissatisfied 21

30

25

20

15
28
23
10 20 21

5
8

0
satisfied Highly satisfied Indifferent Dissatisfied Highly
dissatisfied

Inference: -

48% of the customers are satisfied. Actually, pickup is depended upon Engine capacity.
If Engine capacity increases, mileage decreases and vice versa. But customers already aware
about CC of Hero bikes.

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8. OPINION OF CUSTOMERS ON PRICES OF HERO MOTOCORP

BIKES

SATISFACTION LEVEL No. of respondents

Satisfied 62

Highly satisfied 14

Indifferent 03

Dissatisfied 16
Highly dissatisfied 05

70

60

50

40

30 62

20

10
14 16
3 5
0
satisfied Highly satisfied Indifferent Dissatisfied Highly
dissatisfied

Inference: -

76% of the customers are satisfied. Because, price of the bikes are low compare to
competitors and every Hero bike is having good RESALE value. Auto Mobiles dealer
considering date of purchase and model of the bike for offering RESALE value.

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9. SATISFACTION LEVELS ON WARRANTY OF VEHICLE

SATISFACTION LEVEL No. of respondents

Satisfied 30

Highly satisfied 10

Indifferent 02

Dissatisfied 52
Highly dissatisfied 06

60

50

40

30
52
20
30
10
10
6
0 2
satisfied Highly satisfied Indifferent Dissatisfied Highly
dissatisfied

Inference: -

58% of the customers are dissatisfied. Because in VSN Auto Mobiles, they are charging
Rs.178 for free service. But offering only 3 times service with 5 years warranty. 1 st service from
5-10 days, 2nd service after 90 days and 3rd service after 560 days.

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10. OPININION ON PRICES OF SPARE PARTS

SATISFACTION LEVEL No. of respondents

Reasonable 37

Affordable 26

Costly 10

High cost 27

40

35

30

25

20
37
15
26 27
10

5 10

0
Reasonable Affordable Coastly High cost

Inference: -

Almost 63% of the customers feeling good about spare parts. Because, in VSN Auto
Mobiles showroom, there is separate department for spare parts. So, price may be low
because of bulk purchase.

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11. SATISFACTION LEVEL OF CUSTOMERS ABOUT PRE-PURCHASE

SERVICE

SATISFACTION LEVEL No. of respondents

Satisfied 35

Highly satisfied 15

Indifferent 25

Dissatisfied 18
Highly dissatisfied 07

40

35

30

25

20
35
15
25
10
18
15
5
7
0
satisfied Highly satisfied Indifferent Dissatisfied Highly
dissatisfied

Inference: -

50% of the customers are satisfied. Because, in VSN Auto Mobiles show room down
payment starts from 15,000 and they are also offering different EMI services like, Hero fin Corp
and Muthoot.

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12. SATISFACTION LEVEL OF CUSTOMERS ABOUT AFTER SALE

SERVICE

SATISFACTION LEVEL No. of respondents

Good 47

Excellent 30

Average 15

Poor 08

50
45

40

35

30

25
47
20
15 30
10
15
5 8
0
Good Excellent Average Poor

Inference:-

77% of the customers are feeling good. Because in VSN Auto Mobiles, they are charging
only Rs. 320 for paid service. Which is comparatively less with other Bike showrooms

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13. CUSTOMERS RECOMMEND OTHERS TO BUY HERO BICKE’S

No. of respondents

Yes 84

No 16

90

80

70

60

50

40 84

30

20

10
16
0
Yes No

Inference: -

From the above table it is observed that,

 84% said that they recommend hero bikes to others

and
 16% said that they won’t refer.

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14. OVER ALL SATISFACTION LEVEL

SATISFACTION LEVEL No. of respondents

Satisfied 52

Highly satisfied 38

Indifferent 04

Dissatisfied 04

Highly dissatisfied 02

60

50

40

30
52
20 38

10

4 4 2
0
satisfied Highly satisfied Indifferent Dissatisfied Highly
dissatisfied

Inference: -

 90% said that they are satisfied with the overall

performance of bikes
 Only 4% people are dissatisfied and
 6% are indifferent.

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NULL HYPOTHESIS (HO)

 There is no significant difference between MILEAGE and OVER ALL

SATISFACTION of bikes.

Overall
Mileage
satisfaction
Satisfied 81 90 171
Dissatisfied 17 06 23
Total 98 96 194

CHI-SQUARE TEST

To calculate the chi-square, we use the formula

χ ²= Σ[(O-E)2/E]
Where

χ2= chi-square.

O = observed frequency.

E = expected frequency.

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Table: IMPACT OF MILEAGE vs OVERALL SATISFACTION

Observed(O) Expected(E) (O-E)2 (O-E)2/E

81 86.38 28.94 0.335
17 11.61 29.05 2.502
90 84.61 29.05 0.343
06 11.38 28.94 2.543
Total 5.723

DEGREES OF FREEDOM:

 (Row-1) (Column-1) = (2-1) (2-1) =1 degree

 At 5% level of significance, Table value of 1 degree @ 5% level of significance is 3.84. 

INFERENCE

⚫ Calculated value is (5.723) greater than the table value (3.84) so (H 0) rejected.

⚫ There is significant difference between MILEAGE and OVER ALL

SATISFACTION.

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Chapter -V
5.1 Findings
5.2 Suggestions

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FINDINGS

 84% of the people said that they recommend hero to others.

 It is observed that 77% of the people feel good of after sale services.

 It is observed that only 48% are satisfied with the pickup of bikes.

 58% are totally dissatisfied with the warranty of bikes.

 Good to see 90% of the people are satisfied overall performance.

 It is observed that 76% of the customers said that the prices of Hero are fair.

 71% of the customers have odd opinions on the style or look of vehicles.

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SUGGESTIONS

Company should focus on consumer preferences like

 Style of bikes should be improved further.

 Pre purchase value should change according to model of bike.

 Their warranty levels for bikes to be improved.

 Almost half of the respondents are disappointed with the pickup of the bike so it needs

to be improved.

 Services should be done in time.

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Chapter – VI
6.1 Conclusions
6.2 Annexure
6.3 Bibliography

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CONCLUSION
For making a better relationship with customer they always use genuine
parts in their product. And after selling they have low services and maintenances.
Their constant endeavor is to support the company's mandate of providing highest
level of customer satisfaction by taking good care of customer’s two-wheeler service
and maintenance through their vast network of more than 2200 committed dealers
and service outlets spread across the country.

Apart from that Hero MotoCorp Ltd focused on cleanliness and other
aesthetics of the service stations and add such air-conditioned waiting area, internet
surfing, coffee shops etc. to enhance the in-house experience of the customers at
those “customer touch point”. To ensure that millions of customers in the rural area
are not left waiting for adequate service as it is impossible for the company to
introduce service station at every nook and corner of the country, mobile service
stations are regularly arranged with prior intimation to public about the rout that the
mobile workshop would take when passing through that region so that customers
can come and get their two wheelers serviced. All these activities are aimed to
increase the customer loyalty and thus retaining customers.

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ANNEXURE
QUESTIONNAIRE
PERSONAL INFORMATION:

NAME: ……………………………………………………………

GENDER:
MALE ( ) FEMALE ( )

AGE:
18-25 ( ) BETWEEN 25 TO 30 ( ) ABOVE 30( )

OCCUPATION:
BUSINESS ( ) EMPLOYEE ( ) STUDENT ( ) OTHERS ( )

MOBILE NUM:

1. What is the name of bike you use in HERO?

2. Level of satisfaction regarding mileage of your bike? [ ]

A) Satisfied b) Highly satisfied
c) Indifferent d) Dissatisfied e) Highly dissatisfied.

3. Level of satisfaction style of your bike? [ ]

A) Satisfied b) Highly satisfied
c) Indifferent d) Dissatisfied e) Highly dissatisfied.

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4. Performance level of your bike comparing with other company’s? [ ]

A) Satisfied b) Highly satisfied
c) Indifferent d) Dissatisfied e) Highly dissatisfied

5. How much you are satisfied with the quality of the product? [ ]
a) Highly satisfied b) satisfied
c) Dissatisfied d) highly dissatisfied

6. Level of satisfaction speed/pickup of your bike? [ ]

A) Satisfied b) Highly satisfied
c) Indifferent d) Dissatisfied e) Highly dissatisfied.

7. Level of satisfaction on prices of your hero bikes? [ ]

A) Satisfied b) Highly satisfied
c) Indifferent d) Dissatisfied e) Highly dissatisfied.

8. Level of satisfaction on warranty of bikes? [ ]

A) Satisfied b) Highly satisfied
c) Indifferent d) Dissatisfied e) Highly dissatisfied.

9. Opinion on prices of spare parts of hero bikes [ ]

A) Reasonable b) Affordable
c) Costly d) High cost

10. Level of satisfaction on pre purchase service of HERO? [ ]

A) Satisfied b) Highly satisfied
c) Indifferent d) Dissatisfied e) Highly dissatisfied.

11. Level of satisfaction post sale service of HERO? [ ]

A) Satisfied b) Highly satisfied
c) Indifferent d) Dissatisfied e) Highly dissatisfied.

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12. What is your opinion on Advertising [ ]

a) Good b) very good
c) Average d) bad e) very bad

13. Would you like to recommend hero bike to others [ ]

a) Yes b) No

14. Overall satisfaction regarding HERO bikes [ ]

A) Satisfied b) Highly satisfied
c) Dissatisfied d) highly dissatisfied

15. Any suggestions regarding bikes further improvements

…………………………………………………………………………….

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BIBLIOGRAPHY

TEXT BOOKS

 Philip Kotler (1999), 13th Edition “MARKETING MANAGEMENT” prentice

all India Ltd., New Delhi.

 Donald R. Cooper, Pamela S. Schindler (2006) 9th Edition, “Business Research

Methods” Tata McGraw Hill Education Private Limited, New Delhi

 S.P.Gupta (1999) 2nd Edition, “STATISTICAL METHODS” Sultan Chand &

Company Limited – New Delhi.

WEBSITES

 www.google.com
 www.heromotocorp.com
 www.wikipedia.com
 www.motorbeam.com
 www.economictimes.com

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