Docslide - Us Project Report of Hyundai
Docslide - Us Project Report of Hyundai
Docslide - Us Project Report of Hyundai
Project Report
On
FOR
I, undersigned honestly declare that, this project titled for JP HYUNDAI LTD. Is
ageniune and bonafide project prepared by me and submitted to the Director, Gossner
The Project work is orginal and conclusions drawn here are based on the data collected
by myself.
To the best of my knowledge, the matter presented in this project has not been submitted
for award of any degree, diploma, or membership either to this or any other institute or
university.
DATE : SIGNATURE
PLACE :
JAGJIT SINGH
ACKNOWLEDGEMENT
It gives me immense pleasure to introduce my project work entitled “ STUDY OF
CUSTOMER SATISFACTION AT JP HYUNDAI”
I take this opportunity to express my gratitude to all those who helped me in completion
of my project successfully. I am grateful to MR.D.N.SINHA for giving me the
opportunities and helping me for completing my project and giving their valuable time.
PROF.SURENDERNATH PARAJAPATI
I give my sincerely thanks to
(COLLEGE PROJECT GUIDE OF GOSSNER COLLEGE) and
MR. S. K. ECKA (PRINCIPAL OF GOSSNER COLLEGE) for
giving their valuable contribution, co-operation and guidance from time to time for
completion of this project. Last but not the least I would like to thank my parents, friends,
colleagues and the staff of JP Hyundai ltd. Ranchi, who directly or indirectly help me
during the course of project without which project would have been a Herculean task..
JAGJIT SINGH
BBA 2014-2017
EXECUTIVE SUMMARY
Automobiles have become an indispensable part of our lives, an extension of The human
body that provides us faster, cheaper and more convenient mobility every passing day.
Behind this betterment go the efforts of those in the industry, in the form of improvement
through technological research. The Indian automotive component industry is dominated
by around 500 players which account for more than 85% of the production. Hyundai
Motor Co. was established as an independent Company in 1947.This project on Hyundai
tells us about the satisfaction level of consumers with The Hyundai. Firstly Introduction
about The Automobile Industry has been explained in this project. As a joint venture
between Group and Hyundai Motor Corporation, Hyundai Motor Limited (TKM) aims
to play a major role in The development of The automotive industry and The creation of
employment opportunities, not only through its dealer network, but also through ancillary
industries. Hyundai Motor Limited firmly believes that The success of this venture
depends on providing high quality products and services to all valued customers through
The efforts of its team members. Hyundai Motor Limited, along with its dedicated dealers
and suppliers, has adopted The "Growing Together" philosophy of its parent Company
TMC to create long-term business growth. In this way, Hyundai Motor Limited aims to
further contribute to progress in The Indian automotive industry, realize greater
employment opportunities for local citizens, improve The quality of life of The team
members and promote robust economic activity in India. The next phase looks upon The
research carried out for analyzing The response towards Hyundai. This has been done by
conducting a survey.
After conducting the survey it was observed that most of The Hyundai owners were
satisfied with their services and its maintenance. The designing and interiors are most
liked by The customers but few people also want it to be more affordable.
TABLE OF CONTENTS
Page No.
3.2 Methodology
Chapter 5 Conclusion
Chapter 6 Recommendations
ANNEXURE
Annexure I Questionnaire
Bibliography
CHAPTER 1
Introduction
The automotive industry in India is one of the largest in the world with an
annual production of 23.96 million vehicles in FY (fiscal year) 2015–16, following
a growth of 2.57 per cent over the last year. The automobile industry accounts for
7.1 per cent of the country's gross domestic product (GDP). The Two Wheelers
segment, with 81 per cent market share, is the leader of the Indian Automobile
market, owing to a growing middle class and a young population. Moreover, the
growing interest of companies in exploring the rural markets further aided the
growth of the sector. The overall Passenger Vehicle (PV) segment has 13 per
cent market share.
India is also a prominent auto exporter and has strong export growth
expectations for the near future. In FY 2014–15, automobile exports grew by 15
per cent over the last year. In addition, several initiatives by the Government of
India and the major automobile players in the Indian market are expected to
make India a leader in the Two Wheeler (2W) and Four Wheeler (4W) market in
the world by 2020.
Market Size
The industry produced a total 14.25 million vehicles including PVs, commercial
vehicles (CVs), three wheelers (3W) and 2W in April–October 2015, as against
13.83 in April–October 2014, registering a marginal growth of 3.07 per cent, year-
to-year.
The sales of PVs grew by 8.51 per cent in April–October 2015 over the same
period in the previous year. The overall CVs segment registered a growth of 8.02
per cent in April–October 2015 as compared to same period last year. Medium
and Heavy Commercial Vehicles (M&HCVs) registered very strong growth of
32.3 per cent while sales of Light Commercial Vehicles (LCVs) declined by 5.24
per cent during April–October 2015, year-to-year.
In April–October 2015, overall automobile exports grew by 5.78 per cent. PVs, CVs,
3Ws and 2Ws registered growth of 6.34 per cent, 17.95 per cent, 18.59 per cent and 3.22
per cent, respectively in April–October 2015 over April–October 2014.
INVESTMENT
In order to keep up with the growing demand, several auto makers have started investing
heavily in various segments of the industry during the last few months. The industry has
attracted foreign direct investment (FDI) worth US$13.48 billion during the period April
2000 to June 2015, according to data released by Department of Industrial Policy and
Promotion (DIPP).
Some of the major investments and developments in the automobile sector in India are as
follows:
Global auto maker Ford plans to manufacture in India two families of engines by
2017, a 2.2 litre diesel engine code-named Panther, and a 1.2 litre petrol engine code-
named Dragon, which are expected to power 270,000 Ford vehicles globally.
The world's largest air bag suppliers Autoliv Inc, Takata Corp, TRW
Automotive Inc and Toyoda Gosei Co are setting up plants and increasing capacity in
India.
General Motors plans to invest US$1 billion in India by 2020, mainly to increase
the capacity at the Talegaon plant in Maharashtra from 130,000 units a year to
220,000 by 2025.
US-based car maker Chrysler has planned to invest Rs 3,500 crore (US$525
million) in Maharashtra, to manufacture Jeep Grand Cherokee model.
Mercedes Benz has decided to manufacture the GLA entry SUV in India. The
company has doubled its India assembly capacity to 20,000 units per annum.
Germany-based luxury car maker Bayerische Motoren Werke AG's (BMW) local
unit has announced to procure components from seven India-based auto parts makers.
Mahindra Two Wheelers Limited (MTWL) acquired 51 per cent shares in France-
based Peugeot Motorcycles (PMTC)
Government Initiatives
The Government of India encourages foreign investment in the automobile sector and
allows 100 per cent FDI under the automatic route.
Some of the major initiatives taken by the Government of India are:
The Government of India aims to make automobile manufacturing the main driver
of "Make in India" initiative, as it expects the passenger vehicles market to triple to
9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-26.
In the Union budget of 2015-16, the Government has announced plans to provide
credit of Rs 850,000 crore (US$127.5 billion) to farmers, which is expected to boost
sales in the tractors segment.
The government plans to promote eco-friendly cars in the country—i.e. CNG-
based vehicles, hybrid vehicles, and electric vehicles—and also to make mandatory 5
per cent ethanol blending in petrol.
The government has formulated a Scheme for Faster Adoption and Manufacturing
of Electric and Hybrid Vehicles in India, under the National Electric Mobility
Mission 2020, to encourage the progressive introduction of reliable, affordable, and
efficient electric and hybrid vehicles into the country.
The Automobile Mission Plan (AMP) for the period 2006–2016, designed by the
government is aimed at accelerating and sustaining growth in this sector. Also, the
well-established Regulatory Framework under the Ministry of Shipping, Road
Transport and Highways, plays a part in providing a boost to this sector.
Introduction
The Indian auto-components industry has experienced healthy growth over the last few
years. Some of the factors attributable to this include: a buoyant end-user market,
improved consumer sentiment and return of adequate liquidity in the financial system.
The auto-components industry accounts for almost seven per cent of India’s Gross
Domestic Product (GDP) and employs as many as 19 million people, both directly and
indirectly. A stable government framework, increased purchasing power, large domestic
market, and an ever increasing development in infrastructure have made India a
favourable destination for investment.
Market Size
The Indian auto-components industry can be broadly classified into the organised and
unorganised sectors. The organised sector caters to the Original Equipment
Manufacturers (OEMs) and consists of high-value precision instruments while the
unorganised sector comprises low-valued products and caters mostly to the aftermarket
category.
Over the last decade, the automotive components industry has scaled three times to US$
39 billion in 2015-16 while exports have grown even faster to US$ 10.8 billion. This has
been driven by strong growth in the domestic market and increasing globalisation
(including exports) of several Indian suppliers.
The Indian Auto Component industry is expected to grow by 8-10 per cent in FY 2017-
18, based on higher localisation by Original Equipment Manufacturers (OEM), higher
component content per vehicle, and rising exports from India, as per ICRA Limited.
According to the Automotive Component Manufacturers Association of India (ACMA),
the Indian auto-components industry is expected to register a turnover of US$ 100 billion
by 2020 backed by strong exports ranging between US$ 80- US$ 100 billion by 2026,
from the current US$ 11.2 billion.
Government Initiatives
The Government of India’s Automotive Mission Plan (AMP) 2006–2016 has come a long
way in ensuring growth for the sector. It is expected that this sector's contribution to the
GDP will reach US$ 145 billion in 2016 due to the government’s special focus on exports
of small cars, multi-utility vehicles (MUVs), two and three-wheelers and auto
components. Separately, the deregulation of FDI in this sector has also helped foreign
companies to make large investments in India. The Government of India’s Automotive
Mission Plan (AMP) 2016–2026 envisages creation of an additional 50 million jobs along
with an ambitious target of increasing the value of the output of the sector to up to Rs
1,889,000 crore (US$ 282.65 billion).
Road Ahead
The rapidly globalising world is opening up newer avenues for the transportation
industry, especially while it makes a shift towards electric, electronic and hybrid cars,
which are deemed more efficient, safe and reliable modes of transportation. Over the next
decade, this will lead to newer verticals and opportunities for auto-component
manufacturers, who would need to adapt to the change via systematic research and
development.
The Indian auto-components industry is set to become the third largest in the world by
2025. Indian auto-component makers are well positioned to benefit from the globalisation
of the sector as exports potential could be increased by up to four times to US$ 40 billion
by 2020.
Conclusions
The Indian automobile market is estimated to become the third largest in the world by
2016 and will account for more than 5 per cent of the global vehicle sales. The auto
components sector has been observing robust growth, and turnover is anticipated to reach
US$ 115 billion by FY21 from US$ 35.1 billion in FY14. India's exports of auto
components could account for as much as 26 per cent of the market by 2021.
Favourable government policies such as Auto Policy 2002, Automotive Mission Plan
2006-2016, National Automotive Testing and R&D Infrastructure Projects (NATRiPs),
have helped the Indian auto components industry achieve considerable growth.
COMPANY PROFIL
HMIL forms a critical part of HMC’s global export hub. It currently exports to
around 87 countries across Africa, Middle East, Latin America, Australia and the
Asia Pacific. HMIL has been India’s number one exporter for the last 10 years
consecutively. To support its growth and expansion plans, HMIL currently has
475 dealers and more than 1,226 service points across India. In its commitment to
provide customers with cutting-edge global technology, Hyundai has a modern
multi-million dollar R&D facility in Hyderabad. The R&D center endeavours to
be a center of excellence in automobile engineering.
HMIL's first car, the Hyundai Santro was launched on 23 September 1998 and was a
runaway success. Within a few months of its inception HMIL became the second largest
automobile manufacturer and the largest automobile exporter in India. Hyundai Motor
India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC),
South Korea and is the largest passenger car exporter and the second largest car
manufacturer in India. HMIL presently markets 10 models - Eon, Grand i10, Xcent, Elite
i20, i20 Active, Verna, Elantra, Creta, Tucson and Santa Fe.
HMC has set up a research and development facility (Hyundai Motor India Engineering –
HMIE) in the cyber city of Hyderabad.
As HMC’s global export hub for compact cars, HMIL is the first automotive company in
India to achieve the export of 10 lakh cars in just over a decade. HMIL currently exports
cars to more than 87 countries across EU, Africa, Middle East, Latin America, Asia and
Australia. It has been the number one exporter of passenger cars of the country for the
eighth year in a row.
To support its growth and expansion plans, HMIL currently has 475 strong dealer
network and more than 1,226 strong service points across India, which will see further
expansion in 2017.
In July 2012, Arvind Saxena, the Director of Marketing and Sales stepped down from the
position after serving the company for 7 years.
The company’s motto is “Innovation for Customers”. The company’s vision is five core
strategies: global orientation, respect for human values, customer satisfaction, technology
innovation, and cultural creation. They have a desire to create an automobile culture of
putting customer first via developing human–centered and environment–friendly
technological innovation.
The company’s strive’s to create a more affluent lifestyle for humanity, and contribute to
the harmony and co-prosperity with shareholders, customers, employees and other
stakeholders in The automobile industry.
The spirit of creative challenge of the company has been a driving force in leading HMIL
to where it is today. It is the permanent key factor for HMIL to actively respond to change
in the company’s the management system and seek creative and self–innovative system.
The spirit of creative challenge, creates profits, The primary objective of a private
enterprise. Furthermore, the company’s takes responsibility for The environment and
society and provide benefits to all stakeholders including shareholders, customers,
executives, employees, suppliers, and communities.
Hyundai Motor India Engineering (HMIE) is a fully owned subsidiary of Hyundai Motor
Company, South Korea, which is located at Hyderabad, Telangana. HMIL established HMIE
in November 2006 and contributed to the development of Hyundai Motors' popular new
models for the Indian market starting with the Eon and followed now by the "i" series, and
also in SUV segments like the Creta.
Hyundai Motors' other overseas R&D centres are located in the United States, Germany,
Japan, Korea, and China.
HMIL has 475 dealers and more than 1,226 service points across India.[4] HMIL also operates
its own dealerships known as Hyundai Motor Plazas in large metros across India. HMIL has
the second largest sales and service network in India after Maruti Suzuki.
1.8 EXPORTS
HMIL currently exports vehicles to over 92 countries across Africa, Middle East,
Latin America, Australia and Asia. It has been India’s number one exporter for the last
10 years consecutively. HMIL has been consecutively awared "Top Exporter Of The
Year" for 10 years by EEPC.The Highest Exported volume was 2,70,017 in year 2009.
1.9 SALES PROMOTION
Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the
largest passenger car exporter, registered 4.6% growth in exports for the month of May
2013. The domestic sales accounted for 32,102 units and exports stood at 24,754 units.
sales 476000 in 2015 domestic sales 17.1% market share.
In 2016 It sold 30K units more thereby hitting the 5 lakh mark. Hence domestic sales
stood at 500537 which is an increase by 5.2% compared to last year,with 17.13% market
share. "2016 has been an Year of Excellence for Hyundai in India achieving various
milestones – Celebrating 20 years in India, the roll out of 7 Millionth car in
November'16, crossing the 5 lakh domestic sales in CY2016 and the fastest 50,000 unit
sales in the month of October," YK Koo, MD & CEO, Hyundai Motor India said, in a
statement
Introduction of JP Hyundai:
JP Hyundai was started as a unit of Rama Auto Dealers PVT.LTD. Initial capital invested
by JP Hyundai was 6 crores. More than 100 employees were employed by this
organization.
After analysis the organization came to know that the employees need training to execute
the job properly, so the organization started training and development program which
enhanced the capabilities of employees. Afterwards the organization measured the
performance of employees.
As a result, employees whose performance was regularly unsatisfactory were dropped out
from the organization. Currently 85 employees are working with greater efficiency.
The organization deals with supply of Hyundai cars of different models such as Santro,
i10, i20,Grand i10, Accent, Verna, and . It is running successfully under the guidance of
Hon.
The organization has captured market up to 10% in the first year itself. The turnover of
JP Hyundai is about 15 crores.
Company Profile:
Departments:
JP Hyundai is concerned with number of activities such as sales, marketing,
administration, etc. for running the organization successfully it is very necessary
to handle all the activities in a proper manner.
1. Sales department.
2. Service department.
3. Spares and parts department.
4. Accident department.
5. Administration department.
6. Accounts department.
7. Insurance Department.
Sales department:
The sales department is concerned with all the activities which are necessary for
marketing & sale. It has several employees working under the direction & control
of the sales manager.
Sales Procedure:
JP Hyundai has framed sales process through which sales should be done in a
proper way. It consists of different processes such as:
1. Prospect finding.
2. Need analysis.
3. Objection handling.
4. Negotiations.
5. Closing and finalizing the deal.
6. Delivery of the product.
7. After sales service.
1. Prospect finding:
The very first step of selling procedure is to find the prospective customers. JP
Hyundai has to find their customers therefore they perform various activities such
as sales promotional activities, road shows, demonstrations, advertising through
medias, papers, banners, pamphlets, etc. Sometimes customers come through
reference of their friends, family members, etc. some customers are existing
customers and some are walk- in customers.
2. Need analysis:
The next step carried out by this organization is to analyze the need of the
customers. The consultants have to understand the need of the customers by
asking few questions within specified time (10-15min) according to norms of
Hyundai.
i. Have you owned any car before?
ii. How many members are there in your family?
iii. Product usage?
iv. Frequency of using the product? etc.
3. Objection handling:
Objection handling is one of the most important tasks because the respective
consultant must have complete knowledge of their product as well as
competitor’s product. The consultant has to prove their product better than
competitor’s product but at the same time he should not degrade the competitor’s
product.
Another most important aspect during this process is to take care of the
company’s profit as well as customer’s interest.
4. Negotiation:
The next task performed by the sales team is to negotiate the terms of sale
such as documentation, mode of payment, loan, schemes & offers, charges such
as insurance, RTO, tax, etc.
In this process final product is selected by the customers and all the attributes
and formalities are completed regarding it such as all the documents are verified,
schemes, policies are accepted by the customer, invoice is made, payment is
done and the date of delivery is given to the customer.
6. Delivery of the goods:
This is the last step in the process of the sales. In Hyundai delivery of goods is
done in a different way the consultant and the sales manager cooperate the
customer by providing the facility of ‘pooja’ in showroom itself and gives all
general information for the use of the product. Then the manager gives the
customer a memorable gift in the form of picture.
7.Service Department:
American Marketing Association in 1960 defined services as, “activities, benefits
or satisfaction which are required for sales, or provided in connection with the
sale of goods.” This definition took a very limited view on services as it proposed
that services are offered only in connection with the sale of goods.
The other definition which are proposed, in 1963, by Regan suggested that
“services represented either intangibles yielding satisfaction directly
(transportation, housing), or intangibles yielding satisfaction jointly when
purchased either with commodities or other services (credit, delivery)”.
Services are by and large “activities” or they are series of activities rather than
things. As a result services are intangibles. They take a place in the interaction
between the customer and the provider, which means that services are produced
and consumed simultaneously. Customer has a role to play in the production
process as the services are provided in response to the problems of customer
and solution.
Manufacturer recommended parts are an important part of maintaining your
vehicle’s optimum performance. At JP Hyundai, we offer the same high quality
parts your vehicle was built with, and we keep a large inventory of certified parts
in stock at our facility.
The JP Hyundai service department strives for 100% customer satisfaction. From
repairs to general maintenance such as oil changes to major repairs, let Jaya
Hyundai service your vehicle.
Our commitment to customer service is second to none. We offer one of the
most comprehensive parts and service department in the automotive industry.
Procedure of servicing:
The department has framed a systematic procedure for paid and free servicing.
The customer has to fill up the service form provided by the department such as
personal details, product information, problems related with the product, etc.
Service department:
Responsibilities of service manager
1. To check the performance of all workers of both workshop and
parts section.
2. To report to the Managing Director regarding the performance and discipline of
all employees under him.
3. To check the proper dischargement of duties of all employees under him.
4. To check all reports.
5. To maintain a cordial and disciplined working atmosphere in the workshop
premises.
6. To guide all employees under him in hours of need.
7. To check and minimize customers dissatisfaction and complaints.
8. To order all requirements of the workshop after permission from the Managing
Director.
Accident department:
This is one of the most important department in JP Hyundai. This department is designed
specially to look after the cars which are damaged in accident.
The type of work handle by this department is renovation, painting, denting and fittings.
It also deal with every damage of car.
In case of accident of any car 50% of charges are paid by insurance company and in case
of damage of fibre parts also 50%charges are beared by insurance company.
Spares and parts department:
In JP Hyundai another important department is spares and parts department. It
fulfills all the needs and wants of customer of each and every part of the vehicle.
Spares department is large enough to have each and every part of vehicle.
The working of spares and parts department is done woth the help of GDMS
such as stock reporting, issue of spares, ordering and procurement etc. spares
and parts are issued only on the demand of accident department and parts
department to the customers.
Hyundai has tie up with “Mobi’s” the organisation which provides all spares and
parts to each and every showroom all over India. All the parts are provided
through courier service, courier service is given by the supplier. The products are
packed in air pack boxes and all the products have paper coating to prevent from
damage. Another step taken to prevent from damage is insurance. All the goods
are insured by both the firm i.e. the supplier and JP Hyundai.
While ordering the products the firm send the bar codes of the products and
according the codes the supplier supply the products to the firm. Bar codes are
given to each and every product for easy identification. While issuing the product
from JP Hyundai they keep record of each and every product such as type of
product, colour and bar code of product.
Services Offered:
Total price agreed with customer upfront before starting the job.
Customers to receive call within a week of taking of the car from the
workshop.
Corporate Philosophy
Management Philosophy
With the spirit of creative challenge, we will strive to create a more affluent lifestyle for
humanity, and contribute to the harmony and co-prosperity with shareholders, customers,
employees and other stakeholders in the automobile industry.
The spirit of creative challenge has been a driving force in leading HMC to where it is
today.
It is the permanent key factor for HMC to actively respond to change in the management
system and seek creative and self–innovative system. With the spirit of creative
challenge, we create profits, the primary objective of a private enterprise. Furthermore,
we take responsibility for the environment and society we belong to, and offer sustainable
mobility in order to implement our corporate philosophy and provide benefits to all
stakeholders including shareholders, customers, executives, employees, suppliers, and
communities. Vision We announced "Innovation for Customers" as our mid–to long–
term vision with five core strategies: global orientation, respect for human values,
customer satisfaction, technology innovation, and cultural creation. We desire to create an
automobile culture of putting customer first via developing human–centered and
environment–friendly technological innovation.
Management Policy
Based on a respect for human dignity, we make efforts to meet the expectations of all
stakeholders including customers and business partners by building a constructive
relationship amongst management, labor, executives and employees. Also, we focus on
communicating our corporate values both internally and externally, and gaining
confidence from all stakeholders.
Mid-and Long-term Strategies. We developed five mid–and long–term strategies: global
management, higher brand values, business innovation, environmental management, and
strengthening product competitiveness. Especially, we selected environmental
management as one of our strategies to meet the needs of our stakeholders and the society
we belong to. We also intend to promote sustainability development and preservation of
the enivorment…….
MARKETING
What is marketing?
There are many different definitions of marketing. Consider some of The following
alternative definitions:
“The all-embracing function that links The business with customer needs and wants in
order to get The right product to The right place at The right time”
“The achievement of corporate goals through meeting and exceeding customer needs
better than The competition”
“The management process that identifies, anticipates and supplies customer requirements
efficiently and profitably”
Which definition is right? In short, They all are. They all try to embody The essence of
marketing:
To help put things into context, you may find it helpful to often refer to The following
diagram which summarises The key elements of marketing and Their relationships:
MARKETING CONCEPT AND ORIENTATION
The marketing concept is about matching a Company's capabilities with customer wants.
This matching process takes place in what is called The marketing environment.
Businesses do not undertake marketing activities alone. They face threats from
competitors, and changes in The political, economic, social and technological
environment. All These factors have to be taken into account as a business tries to match
its capabilities with The needs and wants of its target customers.
An organisation that adopts The marketing concept accepts The needs of potential
customers as The basis for its operations. Success is dependent on satisfying customer
needs.
People have basic needs for food, shelter, affection, esteem and self-development. Many
of These needs are created from human biology and The nature of social relationships.
Customer needs are, Therefore, very broad.
Customer needs are broad, customer wants are usually quite narrow.
A want is a desire for a specific product or service to satisfy The underlying need.
Consumers need to eat when they are hungry. What they want to eat and in what kind of
environment will vary enormously. For some, eating at McDonalds satisfies the need to
meet hunger. For others a microwave ready-meal meets the need. Some consumers are
never satisfied unless Their food comes served with a bottle of fine Chardonnay.
Consumer wants are shaped by social and cultural forces, The media and marketing
activities of businesses.
For example, many consumers around the globe want a Mercedes. But relatively few are
able and willing to buy one.
Businesses therefore have not only to make products that consumers want, but They also
have to make Them affordable to a sufficient number to create profitable demand.
Businesses do not create customer needs or The social status in which customer needs are
influenced. It is not McDonalds that makes people hungry. However, businesses do try to
influence demand by designing products and services that are
•Attractive
•Workwell
•Areaffordable
• Are available
Businesses also try to communicate The relevant features of Their products through
advertising and other marketing promotion.
MARKETING MIX
The marketing mix is generally accepted as The use and specification of The four Ps
describing The strategic position of a product in The marketplace. One version of The
origins of The marketing mix starts in 1948 when James Culliton said that a marketing
decision should be a result of something similar to a recipe. This version continued in
1953 when Neil Borden, in his American Marketing Association presidential address,
took The recipe idea one step further and coined The term 'Marketing-Mix'. A prominent
marketer, E. Jerome McCarthy, proposed a 4 P classification in 1960, which would see
wide popularity. The four Ps concept is explained in most marketing textbooks and
classes.
DEFINITION
Although some marketers have added other Ps, such as personnel and packaging, The
fundamentals of marketing typically identifies The four Ps of The marketing mix as
referring to:
Product -An object or a service that is mass produced or manufactured on a large scale
with a specific volume of units. A typical example of a mass produced service is The
hotel industry. A less obvious but ubiquitous mass produced service is a computer
operating system. Typical examples of a mass produced objects are The motor car and
The disposable razor.
Price – The price is The amount a customer pays for The product. It is determined by a
number of factors including market share, competition, material costs, product identity
and The customer's perceived value of The product. The business may increase or
decrease The price of product if other stores have The same product.
Place – Place represents The location where a product can be purchased. It is often
referred to as The distribution channel. It can include any physical store as well as virtual
stores on The Internet.
Promotion – Promotion represents all of The communications that a marketer may use in
The marketplace. Promotion has four distinct elements - advertising, public relations,
word of mouth and point of sale. A certain amount of crossover occurs when promotion
uses The four principal elements together, which is common in film promotion.
Advertising covers any communication that is paid for, from television and cinema
commercials, radio and Internet adverts through print media and billboards. One of The
most notable means of promotion today is The Promotional Product, as in useful items
distributed to targeted audiences with no obligation attached. This category has grown
each year for The past decade while most other forms have suffered. It is The only form
of advertising that targets all five senses and has The recipient thanking The giver. Public
relations are where The communication is not directly paid for and includes press
releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events.
Word of mouth is any apparently informal communication about The product by ordinary
individuals, satisfied customers or people specifically engaged to create word of mouth
momentum. Sales staff often plays an important role in word of mouth and Public
Relations.
MARKET RESEARCH
Market research is for discovering what people want, need, or believe. It can also involve
discovering how They act. Once that research is complete it can be used to determine
how to market your specific product. MR-Anywhere is a very good platform for market
research and analysis
For starting up a business There are a few things that are important:
Market information
Market information is making known The prices of The different commodities in The
market, The supply and The demand. Information about The markets can be obtained in
several different varieties and formats.
Market segmentation is The division of The market or population into subgroups with
similar motivations. Widely used bases for segmenting include geographic differences,
personality differences, demographic differences, use of product differences, and
psychographic differences.
Market trends
The upward or downward movements of a market, during a period of time. The market
size is more difficult to estimate if you are starting with something completely new. In
this case, you will have to derive The figures from The number of potential customers or
customer segments.
But besides information about The target market you also need information about your
competitor, your customers, products etc. A few techniques are:
Research Methodology
3.1 OBJECTIVES OF THE STUDY
1. To know the feedback of customers regarding the services which are being provided by
the company.
5. To know the customer satisfaction towards the after sales service offers by MGF
Hyundai.
3.2 METHODOLOGY
The analysis of the principles of methods, rules, and postulates employed by a discipline;
The systematic study of methods that are, can be, or have been applied within a discipline
or
3.2.1 Population
The main emphasis of the study was on the customers of JP Hyundai in New Delhi.
Exploratory research
Descriptive research
Causal research
These classifications are made according to the objective of the research. In some cases
the research will fall into one of these categories, but in other cases different phases of the
same research project will fall into different categories.
Exploratory research has the goal of formulating problems more precisely, clarifying
concepts, gathering explanations, gaining insight, eliminating impractical ideas, and
forming hypotheses. Exploratory research can be performed using a literature search,
surveying certain people about their experiences, focus groups, and case studies. When
surveying people, exploratory research studies would not try to acquire a representative
sample, but rather, seek to interview those who are knowledgeable and who might be able
to provide insight concerning the relationship among variables. Case studies can include
contrasting situations or benchmarking against an organization known for its excellence.
Exploratory research may develop hypotheses, but it does not seek to test them.
Exploratory research is characterized by its flexibility.
● Descriptive research is more rigid than exploratory research and seeks to describe
users of a product, determine the proportion of the population that uses a product, or
predict future demand for a product. As opposed to exploratory research, descriptive
research should define questions, people surveyed, and the method of analysis prior to
beginning data collection. In other words, the who, what, where, when, why, and how
aspects of the research should be defined. Such preparation allows one the opportunity to
make any required changes before the costly process of data collection has begun.
There are two basic types of descriptive research: longitudinal studies and cross-sectional
studies. Longitudinal studies are time series analyses that make repeated measurements of
the same individuals, thus allowing one to monitor behavior such as brand-switching.
However, longitudinal studies are not necessarily representative since many people may
refuse to participate because of the commitment required. Cross-sectional studies sample
the population to make measurements at a specific point in time. A special type of cross-
sectional analysis is a cohort analysis, which tracks an aggregate of individuals who
experience the same event within the same time interval over time. Cohort analyses are
useful for long-term forecasting of product demand.
● Causal research seeks to find cause and effect relationships between variables. It
accomplishes this goal through laboratory and field experiments.
How many people should be surveyed? Large samples give more reliable results than
small samples. However, it is not necessary to sample the entire target population or even
a substantial portion to achieve reliable results.
Samples of less than 1 percent of a population can often provide good reliability given a
credible sampling procedure.
A customer-based survey was conducted in which 100 people were asked to fill the
questionnaire.
Primary Sources
Secondary Sources
Primary Resources
Primary source, (also called original source), is a term used in a number of disciplines to
describe source material that is closest to the person, information, period, or idea being
studied.
Secondary Sources
Primary Sources
Questionnaire – To analyze buying behavior and in order to gain an insight into the buyer
need-satisfaction level, a questionnaire was formulated and administered among 73
people.
The opinion now about Hyundai may not be the same after some days because of
new entrants.
Upto 25 Years 10
26-35 Years 25
36-45 years 30
46-60 20
60 and above 15
Total 100
ANALYSIS:The maximum buyers of Hyundai cars as per the survey shows that the
customers from the age group of 25-35 and 36-45.The people from age group below 25
and above 60 are less buyers of the vehicle
Most of the customers, about 86%, were satisfied with the handling of the queries while
14% were dissatisfied with them.
87% of the customers found car clean and undamaged at the time of delivery while 13%
found the car to be dirty or damaged.
NO
40%
YES
60%
ANALYSIS:
60% of the customers surveyed found the paperwork to be fast easy and clearly explained
while 40% found the paperwork as delayed and difficult.
100 85
80
60
40 15
20
0
YES NO
ANALYSIS:85% people received the car on time with all commitments fulfilled while
15% did not get the car on time.
While 15% customers thought that the knowledge and behavior of the sales consultant
was excellent only 7% thought they were bad. 53% considered them good while 25%
rated them as average.
22% customers thought that the car features warranty and service schedule was
excellently explained while 8% customers with dissatisfied. 52% considered them good
while 15% rated them as average.
Strengths:
Convenient place.
Change of genuine spare parts.
Large space
Quality service.
Weaknesses:
Delay in service
Opportunities:
Growing demand
Increased competition.
Loss in market share.
Conclusion
CONCLUSION
From the findings and analysis it is clear that Hyundai Car is highly preferred when
compared to the other brands of car in the same segment.
With the analysis through the survey conducted for a period of 45days in Ranchi on the
consumer satisfaction of Jp Hyundai Car Dealer, the findings and analysis shows that
80% of the consumers are happy with the dealer and also sales service and rest 20% of
them says that they are dissatisfied.
Since each customer is like an asset for an organization the company should try to
improve in the area of dissatisfaction.
We know that getting new customer is double the cost of retaining the old customer so
the company should focus on retaining the old customers whom a in the future purchase
the product or recommend others to purchase the product. Thus they help directly or
indirectly for the product sale.
Change is the only think to retain and attract the customers so the company should
identify the needs and dry to fulfill them.
CHAPTER 6
Recommendations
RECOMMENDATIONS
Jp Hyundai should adopt defensive marketing strategy because as being one of the
largest car dealer in ranchi market.
India is 11th largest passenger car market in the world. India is the second-biggest market
for small cars after Japan. It accounts for 60 percent of the domestic market. Jp hyundai
must bank upon this aspect.
ANNEXURES
Annexure I – Questionnaire
Annexure I
Questionnaire
Name: ……………………………………………………………………
Address: ……………………………………………...........................
......................................................................................................
Age: ………………………………………………………………………
QUESTIONS YES NO
2. Were the interiors of the car clean and undamaged at the time of
delivery?
4. Was the car delivered on time with all the commitments fulfilled?
Annexure II
Product Mix of Hyundai
EON
I 10
i 10 1.1 IRDE
ACCENT
SONATA
BIBLIOGRAPHY
Bibliography
1) Books
Kothari, C.R. Research Methodology, 3rd edition, 1997, Vikas Publishing House Pvt. Ltd.,
New Delhi.
Kotler, Philip Marketing Management, 13th edition, 2009, Dorling Kindersley (India) Pvt.
Varshney & Gupta; Marketing Management, Sultan Chand & Sons, 2005.
Kotler & Armstrong; Principles of Marketing Management, Prentice hall India, 2003.
2) Newspapers
3) Websites
http://www.nytimes.com/2004/08/04/business/global-growth-gives-Hyundai-29-rise-in-
profit.html
http://money.cnn.com/magazines/fortune/fortune_archive/2007/03/19/8402324/index.htm
http://www.automobile.com/industry-report-Hyundai-plans-for-hybrid-alternative-in-100-
percent-of-models-in-future.html