Customer Preferences and Customer Satisfaction with regard to specific brands of bikes (Hero Honda, TVS & Bajaj)

Summary

As the objective of my study is to analysis:

“The customer preference and the satisfaction toward the specific brand of bikes (Hero Honda, TVS & Bajaj).”

For this purpose of the survey, the population which was studied was the age group i.e.20-40 years and the sample size taken for study is 100.The attention was mainly focus on the population, which could spell their choice/liking for these bikes with sound clarity. Consumer preference and satisfaction refer to the pre & post purchase behavior of the final consumer- individual and household who buy service and goods for personal consumption. Consumer behavior is influenced strongly by culture, social and personal factor. Culture factor include the set of basic value, perception, want and behavior learned by a member of society from family and other important institution. The personal factor such as buyer age, life cycle stage, occupation, economic situation and life style influenced by four major psychological factors: Motivation, Perception, Learning, Belief and Attitude.

In this era of cut throat competition, no company can survive in the market place without knowing its product's strengths and weaknesses. It has to fortify itself against threats from the environment and exploit its strengths for increasing profits. In order to do so, the company has to conduct regular surveys to know the customer's opinions, needs, and preferences. This helps the company to manufacture the product according to customer's expectations. It has now become more important for each customer confidence and higher positioning of buyer perception.

RECOMMENDATIONS

Recommendation refers to the findings being suggested after research.

1. Fuel efficiency is one single attribute which impact sales of middle segment bikes in age group of 25-40, manufacturer should keep this consideration in mind.
2. New technology should be applied for optimum fuel efficiency.
3. Provide various schemes which attract the customers like Bajaj does.
4. Spare parts of the bikes should be easily available in the market.
5. Bike should be given normal look in order to catch the eyes of family oriented class.
6. Organization should try their level best to come out with imitative ideas in advertisements as this is the best medium to aware society as a whole.

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The above article is a summary extract from the dissertation projects of the MBA and BBA students of Skyline College. Skyline, situated in Delhi and Gurgaon (NCR) is a premier institute providing management education specialising in MBA and BBA degrees and specialist courses for travel and tourism as well as mass communication.