car industry

Topics: Suzuki, Automobile industry in India, Renault Pages: 20 (5750 words) Published: September 25, 2014
IJRMEC

Volume2, Issue 2(February 2012)

ISSN: 2250-057X

CAR MARKET AND BUYING BEHAVIOR- A STUDY OF CONSUMER
PERCEPTION
Nikhil Monga
Assistant Professor & HOD, Department of Management Studies, Phonics Group of Institutions, Roorkee
Dr. Bhuvnender Chaudhary
Dean, Phonics Group of Institution, Roorkee
Saurabh Tripathi
Assistant Professor, Department of Management Studies, Phonics Group of Institutions, Roorkee

ABSTRACT
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 at the rate of 38% per annum in June 2005-06 over the corresponding period in the pervious year. Further competition is heating up in the sector with a host of new players coming in and other like Porsche, Bentley, Audi, and BMW 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 research attempts to answer some of the questions regarding brand personality of selected cars in India by conducting the market research. This personality sketching will help in knowing what a customer (or a potential customer) thinks about a given brand of car 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 car to recommend it to others” will help the car manufacturers to chalk out the entire Customer Buying Behavior. This research will be helpful for the new car entrant companies in India to find out the possible gaps between the customer expectations and the present market offerings. It will be mainly a primary research and the information will be gathered from both primary and secondary research. The research will analyze the applicability of existing research concepts, theories, and tools for evaluating consumer satisfaction. Keywords: Automobile, Car Market, Buying Behavior, Perception International Journal of Research in Management, Economics and Commerce www.indusedu.org

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IJRMEC

Volume2, Issue 2(February 2012)

ISSN: 2250-057X

INTRODUCTION
The concept of “buying behavior” is of prime importance in marketing and has evolved over the years. It is important to understand consumer buying behavior as it plays a vital role in crating an impact on purchase of products. The human wants are unlimited and always expect more and more. Car Models are no exception to this behavior. This lead to constant modifications of Car Models & its features and today we see a new model coming into the market practically every quarter. The market is a very important place to study the behavior of consumers and also provide useful insights what a consumer requires in a product. It is only through research that a company will be able to study the buying behavior of consumers. “As one of the measurements of the performance of the quality management system, the organizations shall monitor information relating to customer perception as to whether the organization has met customer requirements. The method for obtaining and using this information shall be determined” The requirement has been there in the QS9000 standard clause 4.1.6 which says: “Trends in customer satisfaction and key indicators of customer dissatisfaction shall be documented and supported by objective information. These trends shall be compared to those of competitors, or appropriate benchmarks, and reviewed by senior management.” There is obviously a strong link between customer satisfaction and customer retention. Customer’s perception of service and quality of product will determine the success of the product or service in the market. With better understanding of customer’s perceptions, companies...

References: 1) Kotler et al. (2004) Chapter 7, pp. 242-244, 'Consumer behaviour ' and 'A model of
consumer behaviour '.
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