Today a motorbike industry is leading automobile industry of India. There are many domestic and foreign players in two wheeler market in India. But Hero Honda and Bajaj are the players who are dominating the market. The automobile industry today is the most lucrative industry. Due to the increase in disposable income in both rural and urban sector and easy finance being provided by all the financial institutes, the passenger car sales have increased.
This project report deals with “An analytical study of Consumer behavior while buying a motorcycle”.
An analysis of consumer’s behavior in terms of consumer consumption patterns, consumer preferences, consumer motivation, consumer buying process and shopping behavior is very much help to formulate a firm’s marketing strategy. Thus the marketing concept is consumer oriented and the emphasis is more on the consumer rather than the product.
This research shows opinion of consumers, buying motives, factors of influencing consumer behavior and their expectations with product and it’s after sales service which is provided by company.
The final observation that is made that consumer behavior is affected by a host of variables ranging from personal, professional needs, attitudes and values, personality characteristics, social economic and cultural back ground , age gender professional status to social influences of various kinds exerted a family, friends , colleagues , and society as a whole.
The combination of these factors help the consumer in decision making further psychological factors that as individual consumer needs, motivation, perceptions, attitudes, the learning process, personality characteristics are the similarities which operates across the different types of people and influence their behavior. This personality sketching will help in knowing what a customer (or a potential customer) thinks about a given brand of Motorcycle and what are the possible factors guiding a possible purchase.
Similarly, the idea of measuring the customer satisfaction will serve the same purpose of determining the customer perception. Thus, by measuring the” willingness of existing users of a bike to recommend it to others” will help the bike manufacturers to chalk out the entire Customer Buying Behavior. Consumer Behavior Bikes or two wheelers in India cater to various needs of consumers. With the choice of the Indians improving from bicycles to two wheelers, the Indian two-wheeler market has seen a significant growth over the years. Now owning a bike has become a must for most Indians.
Even if people own a car they prefer to have a bike as it is fuel efficient. With the growth in the economy the demand for the two wheelers is increasing over the years. It is one of the most dynamic industries today and with the increasing competition companies are bringing in new products In the two wheeler segment, especially the bike segment, the various factors that influence the consumer behavior are:
1. Personal vehicle Maximum motorcycle users belong to 18 to 25 yrs age group and most of the users are college students and field workers. 2. Maximum motorcycle users belong to middle class and upper middle class segment, which have annual family income of Rs 2 to 4 lacs and above. 3. These are the reasons for buying two wheeler: * Good mileage and convenience * Business purpose * Cost effective * Comfort drive in crowd and easy parking * College going purpose * Short distance travel in city * Affordable price * Personal vehicle 4. As far as mileage per liter of petrol is concerned, Hero Honda is ruling the market and finding favour with consumers. Yamaha and TVS are far below the expectations of the consumers based on mileage.