25-08-2012, 12:14 PM
Buying Behavior of Hatch Back Car
BUYING BEHAVIOR- OF hatch back cars.doc (Size: 1.38 MB / Downloads: 70)
INTRODUCTION
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 hatch back car sales have increased at the rate of 34% per annum in June 2010-11 over the corresponding period in the previous year. Further competition is heating up in the sector with a host of new players coming in and other like Ford, Honda, Nissan, Chevrolet and BMW mini all set to venture in the Indian markets. One factor that could help the companies in the marketing of their product is by knowing and creating a personality for their brands.
This report attempts to answer some of the questions regarding brand personality of selected cars in India by conducting the market research. This report is categorized into parts, deals with introduction to brand personality, companies selected, product and the industry
It is true fact that if you are satisfied you recommended to others. Word of mouth and customer satisfaction play a very important role in determining market perception about an automobile. It is the market perception that determines the success of a company and so it is very important for the car manufacturers to measure the “willingness of existing users of a product to recommend it to others”. The same is a lot of interest to customers as well for it helps them make the purchase decision
Review of Literature
PRIMARY DATA
New data gathered to help solve the problem at hand. As compared to secondary data which is previously gathered data. An example is information gathered by a questionnaire. Qualitative or quantitative data that are newly collected in the course of research, Consists of original information that comes from people and includes information gathered from surveys, focus groups, independent observations and test results. Data gathered by the researcher in the act of conducting research. This is contrasted to secondary data which entails the use of data gathered by someone other than the researcher information that is obtained directly from first-hand sources by means of surveys, observation or experimentation.
SECONDARY DATA
Information that already exists somewhere, having been collected for another purpose. Sources include census reports, trade publications, and subscription services. Data that have already been collected and published for another research project (other than the one at hand). There are two types of secondary data: internal and external secondary data. Information compiled inside or outside the organization for some purpose other than the current investigation. Data that have already been collected for some purpose other than the current study. Researching information which has already been published. Market information compiled for purposes other than the current research effort; it can be internal data, such as existing sales-tracking information, or it can be research conducted by someone else, such as a market research company or the U.S. government. Published, already available data that comes from pre-existing sets of information, like medical records, vital statistics, prior research studies and archival data.
Literature with reference outside India
Hyundai was a multinational conglomerate company headquartered in Seoul and one of the largest South Korean chaebol. It was founded by Chung Ju-yung in 1947 as a construction firm and Chung was directly in control of the company until his death in 2001.
Hyundai underwent a major restructuring and break-up following the 1997 East Asian financial crisis and Chung's death, following which the rumpHyundai Group's business was reduced to container shipping services, the manufacturing of elevators and tourism. Today most companies bearing the name Hyundai are not legally connected to Hyundai Group, including Hyundai Motor Group, Hyundai Department Store Group, Hyundai Heavy Industries Group and Hyundai Development Company.
Most of the former subsidiaries of the Hyundai chaebol continue to be run by Chung's sons or their heirs. If these companies are considered as forming a broad family business, then it remains the single largest company in South Korea, with enormous economic and political power in the country.
Statement of problem
Interviewer error
There is interviewer bias in the questionnaire method. Open-ended questions can be biased by the interviewer’s views or probing, as interviewers are guiding the respondent while the questionnaire is being filled out. The attitudes the interviewer revels to the respondent during the interview can greatly affect their level of interest and willingness to answer openly. As interviewers probing and clarifications maximize respondent understanding and yield complete answers, these advantages are offset by the problems of prestige seeking, social desirability and courtesy biases.
Questionnaire error
The questionnaire designing has to careful so that only required data is concisely reveled and there is no redundant data generated. The questions have to be worded carefully so that the questions are not loaded and does not lead to a bias in the respondents mind
Respondent error
The respondents selected to be interviewed were not always available and willing to co operate also in most cases the respondents were found to not have the knowledge, opinion, attitudes or facts required additionally uninformed response errors and response styles also led to survey error.
Sampling error
We have taken the sample size of 100, which cannot determine the buying behavior of the total population. The sample has been drawn from only National Capital Region.
Scope of the study
A brand is a set of expectations and associations evoked from company or product. A brand is how key constituents- customers, employees etc. experiences what you do. Some brands are of such great importance to people, that we speak of them as a part of one’s life and identity, being used to express one. Some would say that these brands have their own personality, the brand perception, which can be defined as the set of human characteristics associated with a given brand.
Because many people interact with brand as though they were other people, it is important to understand what a brand perception consists of, and how its characteristics can be used to affect the relationship between the brands and its users. Knowing and understanding the brand perception gives a good insight into this relationship, and into peoples’ attitudes towards the brand, and is also an important guide to communicating the brand.
Operational definition of concept
A brand is a set of expectations and associations evoked from company or product. A brand is how key constituents- customers, employees etc. experiences what you do. Some brands are of such great importance to people, that we speak of them as a part of one’s life and identity, being used to express one. Some would say that these brands have their own personality, the brand perception, which can be defined as the set of human characteristics associated with a given brand.
Because many people interact with brand as though they were other people, it is important to understand what a brand perception consists of, and how its characteristics can be used to affect the relationship between the brands and its users. Knowing and understanding the brand perception gives a good insight into this relationship, and into peoples’ attitudes towards the brand, and is also an important guide to communicating the brand.
Like apparel and lifestyles brands, a car is extension of one’s perception. People buy cars which either matches their personalities or those which provide them opportunities of being perceived as somebody they aspire to be. This becomes significant as consumers move up the value chain from small compact cars to midsize and upwards.