STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES PART-B 1. GENERAL INTRODUCTION A. Statement of the problem: The research is based on the “Strategy to Increase the Demand for Hyundai motors Products and Services”. Why their competitor’s sales are more than Shree Hyundai? How to manage our company to win from these competitors’? B. Objective of the study: The objective of the study is To: Increase the sales of the Shree Hyundai by implementing different marketing strategy. Understand the market conditions for Hyundai Cars. Study about the strategy of its competitors in the market. Different promotional tool used by Shree Hyundai Study the consumer behaviour, and perception about the Hyundai Cars. 1 T-JOHN INSTITUTE OF TECHNOLOGY
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
PART-B
1. GENERAL INTRODUCTION
A. Statement of the problem:
The research is based on the “Strategy to Increase the Demand for Hyundai
motors Products and Services”. Why their competitor’s sales are more than Shree
Hyundai? How to manage our company to win from these competitors’?
B. Objective of the study:
The objective of the study is To:
Increase the sales of the Shree Hyundai by implementing different
marketing strategy.
Understand the market conditions for Hyundai Cars.
Study about the strategy of its competitors in the market.
Different promotional tool used by Shree Hyundai
Study the consumer behaviour, and perception about the Hyundai
Cars.
Study about the need of improvement in existing Marketing System.
Study about the difficulties faced by Executives while Marketing in
the field.
To study about the effectiveness & efficiency of Shree Hyundai in
relation to its competitors
C. Scope of the study:
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
Shree Hyundai’ working philosophy is particularly based on “Prepare employees for the
future developments with developments in their personality.” As competition is very
much intense hence the management is working hard for customer relationship to achieve
future business growth.
As it is newly opened organization hence as every other organization it is also facing
some management problems. Management is trying to overcome all these problems and
achieving systematic workings here. Each and every department is distinguished for the
employees. Every employee is having its own designation and job profile and he/she has
to work under that profile only. For each segment of the vehicles, Shree Hyundai is
having its separate executives. Departments are connected through local area networks.
The main aim of management here is self development of employees. So that, they can be
empowered for the benefit of the organization and be able to take future responsibilities.
It starts with the joining of the employee in the organization. Initially, they have to work
under various departments till his/her probation period would be over. They have to start
their works from the ground level, so that they can understand the reality of the business
here. Daily reporting at the morning and the evening make them up to date with the
objectives and their future targets. The senior management knows that how they are
doing their work and in which way they have to be directed.
Shree Hyundai tries to find out the answer of 4 critical questions while doing its business;
1. Are we easy for customers to do business with?
2. Do we keep our promises?
3. Do we meet the standards, we set?
4. Are we responsive to customer needs?
D. Methodology:
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
The nature of the project work has been descriptive as no hypothesis, is taken
to be tested. Though the conclusions drawn could be taken as the hypothesis
and further tested by the research work undertaken in the relevant field. The
reason for choosing the descriptive research design is the fact the project report
has been primarily based upon the secondary sources of data and whose
authenticity could be assured of.
The reluctance of the company's personnel in parting with much of information
led the project report to be based substantially on the secondary source of data.
The sources of data used in data collection are the following:
Primary sources
In order to gather information about the various products of Shree Hyundai, I
personally visited a number of Showrooms and collected data pertaining to the
prices of the cars offered. The market visits were useful in knowing the
comparative prices and quality of the offered brands vis-versa the competitive
brands. Details regarding the delivery of the cars were collected and I also
inquired about the various sales promotion schemes followed by the three car
showrooms in Bokaro.
By interviewing these dealers valuable information was collected. I inquired
from them about their marketing advertising and sales strategies.
Secondary sources
Information was collected from secondary sources such as customer survey,
newspapers advertisements, Automobile newsletters, etc.
Beside these the use of Internet was also made in collecting relevant
information. The data collected from the above mentioned sources has been
adequately structured and used at appropriate places in the report. The
information gathered included:
Their annual reports.
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Pamphlets.
Posters.
Press clippings.
News releases.
Newsletters.
Pictures.
Exchange schemes.
Loan fair.
E. Sampling :
Population:
The population considered for this research type is the overall
general buyers who:-
a. Planning to buy four wheeler(one time payment or EMI) for the
first time.
b. Are planning to replace their old four wheeler with a more
satisfying product type.
c. Fill the need of four wheeler.
d. Can afford a car however do not fill the need of buying one.
In short we can mathematically say that it is a general set which
includes all the set and sub-sets of potential buyer of four buyers.
Non probability sampling:
Non-probability sampling provide a non- scientific techniques of
drawing sample from the population according to non-particular laws of
chance in which each unit in the universe has No definite pre-assigned
probability of being selected in the sample. in short it is the purposes of
subjective or judgment sampling.
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The sampling design I used here is convenient sampling because
it is based on the selected customers i.e., previous customer of Hyundai, the
customers who are planning for new cars and customers who came in
showroom for enquiry of Hyundai Cars. I was selected the convenient
sampling because it was not easy to survey all customers.
Sample size:
The sample size shorted out from the population (universe set) is
100 nos. to draw the conclusion of the study.
F. Limitations of study:
Since the road to improvement is never ending, so this study also suffers from
certain limitations. Some of them are as follows:
Because of illiteracy, it was a time consuming method in which
continuous guidance was required.
Questionnaire method involves some uncertainty of response. Co-
operation on the part of informants, in some cases, was difficult to
presume.
The project was limited to a period of 10 weeks and is done purely for the
academic purpose.
It is possible that the information supplied by the informants may be
incorrect. So, the study may lack accuracy.
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2. ANALYSIS / DESIGN:
The data given below was based on the questions which are asked during the survey.
Q.1. WHY SHOULD YOU OPT A FOUR WHEELER?
Table No 1: Showing why people opt a four wheeler:
GRAPH No.3: Showing Customer Perception about Hyundai Motors
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
Interpretation:
The above graph reveals that best perception comes from 43%, 26% have good perception about
the Hyundai car and rest by 17% have ordinary ,14% have poor perception.
Q.4. What is the standard of cars in Hyundai Motors?
Table No. 4: Showing result about standard of Hyundai cars:
Particular Number of respondent PercentageExcellent 12 12%Better 32 32%Good 23 23%No Comments 08 8%Poor 23 23%Worst 2 2%Poorest 0 0%
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TOTAL 100 100%
GRAPH No. 4: Showing result about standard of Hyundai cars:
Interpretation: The above graph showing the standard of Hyundai cars.12% customers says the
standard is excellent, 32% says better, 23% says good standard, 8% no gave any comment on
this but 25% customer says the standard is poor or worst.
Q.5.: On the basis of price and feature comparison, is Hyundai Motors economical?
Table. No.5: Showing is Hyundai cars are economical according to its price and features:
PARTICULARS No. of respondents percentageExtremely Agreed 20 20%
Highly agreed 30 30%Agreed 25 25%
No Comments 12 12%Disagreed 13 13%
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
Highly disagreed 0 0%Extremely disagreed 0 0%
GRAPH No. 5: Showing is Hyundai cars are economical according to its price and features:
Interpretation: The above graph showing is Hyundai cars is economical. 20% of public is
extremely agreed with this statement, 30% is highly agreed, 25% is agreed and rest of peoples
answer is negative.
Q.6. What is your perception about the maintenance cost of Hyundai cars?
Table No.6: Showing Customers Perception about the Maintenance Cost of Hyundai :
Particulars Number of Respondent Percentage
Under Customer Strength 30 30%
Economical 23 23%
Trendy 39 39%
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Safety 5 5%
Etc 3 3%
TOTAL 100 100%
GRAPH No. 6: Showing Customers Perception about the Maintenance Cost of Hyundai :
Interpretation: Here 30% customer’s says maintenance cost is under customer strength, 23% says it is economical, 39% says trendy, rest of customers says safety and others.
Q.7. Which feature of Hyundai cars attract you more?
Table No.7:Showing which feature attract more customer:Particulars Number of Respondent Percentage
Luxurity 30 30%Price 20 20%Safety 20 20%
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
Style & Trend 16 16%Etc 14 14%
GRAPH No.7: Showing which feature attract more customer:
Interpretation: 30% people like Hyundai cars due to luxurity, 20% due to price, 20% due to
safety and rest due to style & trend and rest of others.
Q.8. For passenger segment, which is the highly considerable competitor for Hyundai
Motors?
Table No. 8: Showing who highly considerable competition with Hyundai:
Competitors Number of Respondent PercentageMaruti 45 45%Honda 10 10%Tata 14 14%Skoda 08 8%Chevrolet 12 12%Ford 7 7%Toyota 1 1%M & M 3 3%
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Total 100 100%
GRAPH No.8: Showing who highly considerable competition with Hyundai:
Interpretation: Most of public’s perception about competition was, Maruti is the big competitor
of Hyundai, rest of companies has little competition due to the model of cars, Hyundai is only
passenger car manufacturer this is the reason.
Q.9. In term of new designs of car, what is the status of Hyundai motors?
Table No.9: Showing the performance of new car design:Particulars Number of Respondent Percentage
STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
Silver finish centre console & AC vents
Door trim with fabric insert
Beige & brown seat Upholstery.
Safety
Dual member side protection beams
Engine sub- frame
Energy absorbing steering column
Cross bar under dash panel
Child safety rear door locks
Front & rear seat belts
High mounted stop lamp (HMSL)
Dual horns
Day and night inside rear view mirror
Central door locking
Front and rear seat belts
Ability to diagnose breakdown
High mount stop lamp
Head lamp leveling device
submarine seats Child safety
lock on rear doors
Collapsible steering column
High mounted stop lamp
Provision for rear fog lamps
Side intrusion beam on all 4 doors
Head lamp leveller
structure with controlled deformation and reinforcement sturts
Anti submarine seats
Engine immobilizer
Tubeless tyres
Child lock on rear doors
High mounted stop lamps
Remote head lamp level adjustment
Fire prevention system (FPS)
Double crank prevention system
Reverse gear lock
Height adjustable front head restraints
Rear neck rests.
Competition with Wagon R, Indica V2 and palio:
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
As we can see from the available data, Unique Selling Points can be created for Santro xing. The
points could be created from the following aspects;
a. Only in Santro, we are having AC with Ozone friendly with 4 speed
blower fan which always take freshment in both Driver and passengers.
b. Only in Santro, we will find A, B & C pillar trims, which shows interior
more luxury.
c. We are beating other models in overall length. In overall height only
Wagon R is beating us. But we can convince our customers by showing
them that this much of height is useless for Indian customers.
d. The actual selling point would be Santro mileage capacity, which is the
highest as compared to competitors. And our Indian customers are very
much keen about this factor.
e. Power and torque is highest for the Santro, which makes it lucrative option
for thrill lovers.
f. Ground clearance is highest for Santro, which is very much suitable for
Indian roads.
g. For only Santro, we are having rack and pinion steering with power
assisted while others are having either rack and pinion or power steering.
h. Only for Santro, we are having ABS, which makes it suitable for each and
every type of road condition.
The biggest challenge for every marketer is that “Customers could not be satisfied
absolutely; this is organization people responsibility to convince the customer to purchase
our product”. To be compatible in these described situations we have to follow the e master
word for every organization to compete with rivals – “Feel that we all are members of the
family in this organization and we will help to each other as a family member”.
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
FINDINGS FROM SURVEY
According to the survey the customers who are already the customer of Hyundai cars are satisfied with the service of Shree Hyundai, and the public who are planning to purchase a new car should go for Hyundai because the cars in Hyundai is economical in price, luxurious in look, comfortable, and trendy in design. These features also attract our young age group due to the new design, trendy look and style.
The following are the findings I point out from my study:
1. Customers are always demanding, but they don’t have to loose their patients, because
customer is the God for us. If they are creating problems, then also we have to clear all
matters with smile and patients. Make them understand fully that what are the problems
and available solutions for that problem.
2. They are not here to provide comparisons. They have to provide test drive to those
customers only which seem to be the competent customers.
3. They have to make their customers understand about their own need and available
options to satisfy their needs. Customers should be known that money discount is not as
important as their personal satisfaction.
4. They have to integrate the operations of our all departments, so that each and every
department can help in operation of every department and understand other department’s
work.
5. Each and every employee should be having working knowledge of each and every
department, hence job rotation is better option for this.
6. The management has to understand personal needs of the sales and marketing people,
hence weekly get to gather with top management should be there about technical and
personal problems for the employees where everyone would be free to express his/her
thoughts.
7. When they should be having first meeting with customer, initially they have to make
them understand about financial conditions for available banking and non banking
companies. Then after they have to give them plan for financial.
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8. They should be having one printed information about all formalities for the finance and it
should be given to the customer so that it would be helpful to the customer while
summing up documents for finance.
9. The customers who are having discontinued banking operations they should be given
support by making alliance with related banks, so that it would be easy for the customers
to get loan.
10. Executives may have to check that all documents they are sending to the department.
11. All relevant information should be same for all sections and absolute.
12. First of all, they have to provide one more employee to the exchange department. Hence,
when Mr. R.K. Singh(corporate and exchange dept) would not be free then he can
manage the deal.
13. Customers will not understand the technicality and market conditions hence we have to
make them understand that what they are getting that would be the best in the condition.
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3. SUGGESTIONS:
Aggressive Ad Campaign: Shree Hyundai should put a few hoardings in different areas in Bokaro and also
advertise effectively in local cable channel.
Educating the customners: Shree Hyundai should educate the customers about the maintenance of the
vehicle.
Attractive schemes: Give few attractive schemes at the time of after sales services. Like giving quick
service and charging them reasonably.
Personal touch with the customers: Asking the customers to come regularly for servicing even after the
warranty period.
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
4. CONCLUSION:
The report has highlighted the importance of providing the highest customer
satisfaction and how it affects the sales. Though in the month of December, the sales
were down, by developing competitive strategies and by delivering high class products
and services, Popular Vehicles and Services were able to keep their sales momentum.
The report emphasizes the importance of customer loyalty to develop the business.
The study which we conducted on the Four wheeler automobile sector is a very
important topic of automobile sector.
After deep research, analysis and getting information about companies as
formulated that the four wheeler automobile companies achieved success in the market.
Throughout the study we found the four wheeler manufacturer having very new and
modern technology in their bikes, they have a good market share in India, many of
Automobile companies like Maruti Suzuki, Tata Motors, M&M, Fiat, Ford, etc are also
giving large competition.
Concluding the performance of the company related to four wheeler sector in
India, getting their market share and growth and what are services they are providing
after sales.
Hyundai Motors has managed to put in spectacular performance going from
strength despite increase in competition; the company's sales have witnessed an uptrend,
registering an average growth of 42% in the three years under review.
Hyundai Motors has managed to achieve this because its strong brand image and
proven product quality underpinned the performance growth in recent years. Apart from
the strong brand "Santro" the company's performance across the spectrum of the
Passenger car market helped it exploit the growing demand for 5-stroke Cars.33
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STRATEGY TO INCREASE THE DEMAND FOR HYUNDAI MOTORS PRODUCT AND SERVICES
