light motor vehicles

Topics: Suzuki, Maruti Suzuki, Automobile industry in India Pages: 14 (2341 words) Published: October 8, 2013
It is a true fact that if the customers are satisfied then the recommended to others. Word of mouth and customer satisfaction play a very important role in determining market perception about automobiles. Market perception 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”. Car is one of the products which is purchased most significantly by Indian households. “What makes the perfect car that influence willful purchase?” The project highlights the factors that influence the buying decision of a consumer. The factor under consideration would be:

Income of the consumer
Features in the car
Safety standard
Warranty scheme
Finance facility

Customer satisfaction index: some of the most advance thinking in the business world recognizes that customer relationships are best treated as assets, and that methodical analysis of these relationships can provide a road map for improving them. “If you cannot measure it, you cannot improve it.” – Lord William Thomson Kelvin (1824-1907) 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. Customer expectations are the customer-defined attributes of your product or service. We cannot create satisfaction just by meeting customer’s requirements fully because these have to be met in any case. However falling short is certain to create dissatisfaction. Major attributes of customer satisfaction can be summarized as: Product quality

Product packaging
Keeping delivery commitments
Responsiveness and ability to resolve complaints and reject reports Overall communication, accessibility and attitudes

For the purpose of the project, the researcher has undergone through Surveying the relevant consumer base through exhaustive questionnaire. Understand the elements underplaying in each segment.
Deducing an analytical overview through different statistical methods.

Recommendation comes from satisfaction and satisfaction comes from

Indians have emerged as avid car enthusiasts sporting their prized possessions as status symbols and speed machines. Foreign car companies have discovered the Indian consumer as well as the R & D potential in the Indian technical fraternity and are setting up manufacturing plants right and left across the country at lower costs. The Indian automobile industry is currently experiencing an unprecedented boom in demand for all types of vehicles. This boom has been triggered primarily by two factors: (1) Increase in disposable incomes and standards of living of middle class Indian families estimated to be as many as four million in number; and (2) The Indian government's liberalization measures such as relaxation of the foreign exchange and equity regulations, reduction of tariffs on imports, and banking liberalization that has fueled financing-driven purchases. Industry observers predict that passenger vehicle sales will triple in five years to about one million, and as the market grows and customer's purchasing abilities rise, there will be greater demand for higher-end models which currently constitute only a tiny fraction of the market. These trends have encouraged many multinational automakers from Japan, U. S. A., and Europe to enter the Indian market mainly through joint ventures with Indian firms. India is increasingly becoming a global automotive hub both for the vehicles and component industry. India is fast integrating itself into the world economy and open to international automotive companies, who are increasingly investing in India. The Indian automotive and component industry is looking to increase the quality of production from existing levels, to...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • New Vehicle Technology Essay
  • Motor Vehicles Act Essay
  • Brand Management : Tata Motors Essay
  • Essay about Offences and Punishment/Fine Under the Motor Vehicles Act, 1988
  • Tata Motors-Fiat Jv Essay
  • compensation in case of hit and run in motor vehicle act Essay
  • The History of Mahindra Reva Electric Vehicles Private Limited Research Paper
  • Vehicle Registration System Essay

Become a StudyMode Member

Sign Up - It's Free