05-08-2014, 04:06 PM
A STUDY ON BRAND IMAGE OF HYUNDAI VEHICLES WITH SPECIAL REFERENCE TO SURYABALA AUTOS (P) LTD., COIMBATORE”
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INTRODUCTION
Suryabala Hyundai is an authorized Dealer certified by Hyundai Motor India Ltd. (HMIL) for Coimbatore and surrounding Districts. The Company started its operations in March - 2007 and has been selling approx. 125 cars per month.
The Study on Brand Image of Hyundai Vehicles at Suryabala Hyundai bring in insight as at how brand Image is being created as the mind set of customers & also check whether existing changes is good enough to face competition. It showcases how brand image could stem from company driven image, product driven image & user driven image and this helps to give suitable suggestions to the company for its improvement.
STATEMENT OF PROBLEM
As the company is facing tough competition from national as well as international companies, a study on brand image is necessary thing for the company. At present the company is facing a severe competition which may decrease sales volume due to globalised competition & due to other external business environment factors in automobile industry. So in order to sustain & compete and to find out the lack / deficiency in the existing marketing activities. A study on brand image was selected by the researcher is to identify how existing customer perceive the brand and to check whether the Hyundai Vehicles enjoys a strong brand image. So it is necessary for the company to check its brand image at this point of time
OBJECTIVES OF STUDY
• To find out the brand image of. Hyundai Vehicles with special reference to Suryabala Autos (P) Ltd.,Coimbatore.
Secondary Objectives
• To study the factors affecting brand image of Hyundai Vehicles.
• To know the extent to which the advertisement and sales promotion techniques develop brand image.
• To analyze the factors which influence the customers while purchasing Hyundai vehicles.
• To give suggestions for improving brand image
RESEARCH METHODOLOGY
Methodology is a way to systematically solve a research problem. It is a science of studying how the research is done scientifically.
Research Design
The research design was of descriptive in nature. Pre-planned design for analysis and structured questionnaire is used for finding the primary data.
Data Source
Primary Data
Primary data is collected from Customers of Hyundai Vehicles.
Secondary Data
The secondary data were collected from company records, magazines,
journals, website.
Sampling plan
The Universe is Hyundai vehicles customers in Coimbatore city. The Sample unit is the customers who are visiting Suryabala Hyundai in Coimbatore. And the Sample size is 100 customers. Convenient sampling method is adopted as the Sampling method for this study.
Data Analysis and Interpretation
Collected data are edited and tabulated. The tabulated data is further taken for analysis by using simple percentage method. Tables and Bar charts were used to give a better understanding of the analyzed data.
Findings
The major findings revealed that the brand image of Hyundai Vehicles is good because of its product attribute and pricing. It is also found that distribution and advertisements are not so effective. The advertisement and sales promotion induce to buy Hyundai Vehicles to a Very Great Extent.The factors which considered most important while choosing Hyundai Vehicles are comfort, performance, safety, power & pickup and style & Design.
Suggestions
The product now enjoys a strong brand image, but to sustain it in future and to face competition the company has to improve its service to customer and revise a better price for the product. As the competition in the market have been becoming intensive the company may go ahead with new offers and plans for customer satisfaction which will help them retain their brand image. The company shall provide more service centres to ensure better customer service that help to achieve better customer satisfaction and Image. The company may take adequate steps in advertising new offers and discounts of their products through newspapers and TV channels by celebrities and increase the frequency of advertisement.
Conclusion
From the study it can be concluded that, most of the consumers are satisfied with the Performance of Hyundai Vehicles. Regarding customer service and availability, they have to start new showrooms and service centres .Also the company can increase the frequency of advertisement. If the company follows the above suggestions, it can create a good image in the minds of consumers. This project will definitely help the company to attain good positions in the mind of consumers and also improve sales volume.