04-05-2013, 02:38 PM
Bajaj Auto Limited
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INTRODUCTION:
Satisfaction is a person’s feelings of pleasure or disappointment resulting from
comparing a product’s perceived performance (or outcome) in relation to his or
her expectations. Whether the buyer is satisfied after purchase depends on the
offer’s performance in relation to the buyer’s expectations. If the performance
falls short of the expectations, the customer is dissatisfied. If the performance
matches the expectations, the customer is satisfied. If the performance exceeds
expectations the customer is highly satisfied or delighted. A company would be
wise to measure customer satisfaction regularly because one key to customer
retention is customer satisfaction. A highly satisfied customer generally stays
loyal longer, buys more as the company introduces new products and upgrades
existing products, talks favourably about the company and its products, pays
less attention to competing brands and is less sensitive to price, offers product
or service ideas to the company, and costs less to serve than new customers
because transactions are routine. When customers rate their satisfaction with an
element of the company’s performance - say, delivery. It could mean early
delivery, on-time delivery, order completeness, and so on. The company must
also realize that two customers can report being “highly satisfied” for different
reasons. One may be easily satisfied most of the time and the other might be
hard to please but was pleased on this occasion. A number of methods exist to
measure customer satisfaction. Periodic surveys can track customer satisfaction
directly.
COMPANY’S HISTORY :
Bajaj Auto came into existence on November 29, 1945 as M/s Bachraj Trading
Corporation Private Limited. It started off by selling imported two- and three
wheelers in India. In 1959, it obtained license from the Government of India to
manufacture two- and three-wheelers and it went public in 1960. In 1970, it
rolled out its 100,000th vehicle. In 1977, it managed to produce and sell
100,000 vehicles in a single financial year. In 1985, it started producing at
Waluj in Aurangabad. In 1986, it managed to produce and sell 500,000 vehicles
in a single financial year. In 1995, it rolled out its ten millionth vehicle and
produced and sold 1 million vehicles in a year.
About Bajaj
The Bajaj Group is amongst the top 10 business houses in India. Its footprint
stretches over a wide range of industries, spanning automobiles (two-wheelers
and three-wheelers), home appliances, lighting, iron and steel, insurance, travel
and finance. The group’s flagship company, Bajaj Auto, is ranked as the
world’s fourth largest two- and three- wheeler manufacturer and the Bajaj brand
is well-known in over a dozen countries in Europe, Latin America, the US and
Asia. Founded in 1926, at the height of India's movement for independence
from the British, the group has an illustrious history. The integrity, dedication,
resourcefulness and determination to succeed which are characteristic of the
group today, are often traced back to its birth during those days of relentless
devotion to a common cause. Jamnalal Bajaj, founder of the group, was a close
confidant and disciple of Mahatma Gandhi. In fact, Gandhiji had adopted him as
his son. This close relationship and his deep involvement in the independence
movement did not leave Jamnalal Bajaj with much time to spend on his newly
launched business venture. His son, Kamalnayan Bajaj, then 27, took over the
reins of business in 1942. He too was close to Gandhiji and it was only after
Independence in 1947, that he was able to give his full attention to the business.
Kamalnayan Bajaj not only consolidated the group, but also diversified into
various manufacturing activities.
NEED OF THE STUDY
Hero Honda, Bajaj Auto and Enfield motorcycles have come out tops in the
customer satisfaction ratings in the 2007 TNS Motorcycle Total Customer
Satisfaction Study conducted by TNS Automotive. The study says that newly
launched motorcycles including the Splendor NXG and CBZ Extreme from
Hero Honda, Discover 135 from Bajaj Auto and Bullet 350 from Enfield have
been ranked highest in their respective segments. The study was conducted by
compiling responses of more than 7,000 new motorcycle buyers as regards the
performance of more than 50 models across parameters like sales satisfaction,
product quality, motorcycle performance and design, after-sales service, brand
image, and cost-of ownership. The index score provides a measure of
satisfaction and loyalty that a given model or brand enjoys among its customers.
Pradeep Saxena, senior VP, TNS India - Automotive said: "The continued
efforts of the industry in bringing down the cost of ownership and providing a
good sales experience have clearly borne fruit. A trend that has been continuing
for the past couple of years is the strong performance of new models. They tend
to get high ratings on performance and design, an indicator of the growing
design capability of the Indian industry ".
RESEARCH METHODOLOGY
Survey research is the systematic gathering of information from respondents for
the purpose of understanding and/or predicting some aspects of the behaviour of
the population of interest. It is the most common method of collecting primary
data for marketing decisions. Survey can provide data on attitudes, feelings,
beliefs, past and intended behaviour, knowledge, ownership, personal
characteristics and other descriptive items. Survey research is concerned with
administration of questionnaires (interviewing). The survey research must be
concerned with sampling, questionnaire design, questionnaire administration
and data analysis. The administration of questionnaire to an individual or group
of individuals is called an interview. A questionnaire is simply a formalized set
of questions for eliciting information. As such, its function is measurement and
it represents the most common form of measurement in marketing research.
Threats:
· The market share in the scooter segment has taken a beating from TVS
Suzuki's entry into this segment.
· Entry of Multinational companies, especially Chinese ones, in the
motorcycle segment will stiffen the competition and will hamper the
efforts of Bajaj to establish itself in the motorcycle segment.
Threats are challenges posed by an unfavourable trend or development
that could lead to lower sales and profit.