INTRODUCTION OF THE STUDY

What is marketing? Marketing is a societal process that is needed to discern consumers' wants; focusing on a product/service to those wants, and to mould the consumers towards the products/services. Marketing is fundamental to any businesses growth. The marketing teams (Marketers) have the task to create the consumer awareness of the products/services through marketing techniques; unless it pays due attention to its products/services and consumers' demographics and desires, a business will not usually prosper longterm. Marketing tends to be seen as a creative industry, which includes advertising, distribution and selling. It is also concerned with anticipating the customers' future needs and wants, often through market research. Its specialist areas include: Advertising and Branding Communications Database Marketing Direct Marketing Events Organization International Marketing Internet Marketing Industrial marketing Market Research Public Relations Search Engine Marketing Strategic Management

What is Customer Satisfaction? Customer satisfaction means meeting and exceeding the expectations your customers have about the experience they are going to receive when visiting your business. And the level of satisfaction achieved depends on the extent to which expectations are fulfilled. Your customers expectations come from a variety of sources, and can vary dramatically from one customer to the next. Customers expectations are created by: Your marketing messages and materials What they have heard about your business from friends and relatives The price they are going to pay for the experience Their own experience with similar types of businesses, both in Nova Scotia and elsewhere Their previous experience with your business Their own personal opinions, age, income level, etc. etc. Its important to remember that your guests expectations start to be established from the moment of their first contact with your property, which might be an ad, your web site or the recommendation of a friend. Satisfying these expectations extends throughout their entire visit from their efforts to access the information they need, to finding your property and through all parts of their experience with your property and your staff. Expectations, and what needs to be done to meet and exceed expectations, can differ from one customer to the next, and they can differ from one occasion to the next, depending on factors such as why the customer is visiting your business, with whom, for how long, etc.
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Creating satisfied customers means listening to and understanding their expectations, and responding to their needs if you dont know what the customer wants and expects, how can you deliver on their expectations? Measuring customer satisfaction Organizations are increasingly interested in retaining existing customers while targeting non-customers; measuring customer satisfaction provides an indication of how successful the organization is at providing products and/or services to the marketplace. Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of the state of satisfaction will vary from person to person and product/service to product/service. The state of satisfaction depends on a number of both psychological and physical variables which correlate with satisfaction behaviors such as return and recommend rate. The level of satisfaction can also vary depending on other options the customer may have and other products against which the customer can compare the organization's products. Because are basically a psychological state, care should be taken in the effort of quantitative measurement, although a large quantity of research in this area has recently been developed. Work done by Bart Allen and Brodeur between 1990 and 1998 defined ten 'Quality Values' which influence satisfaction behavior, further expanded by Berry in 2002 and known as the ten domains of satisfaction. These ten domains of satisfaction include: Quality, Value, Timeliness, Efficiency, Ease of Access, Environment, Interdepartmental Teamwork, Front line Service Behaviors, Commitment to the Customer and Innovation. These factors are
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emphasized for continuous improvement and organizational change measurement and are most often utilized to develop the architecture for satisfaction measurement as an integrated model. Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988 provides the basis for the measurement of customer satisfaction with a service by using the gap between the customer's expectation of performance and their perceived experience of performance. This provides the measurer with a satisfaction "gap" which is objective and quantitative in nature. Work done by Cronin and Taylor propose the "confirmation/disconfirmation" theory of combining the "gap" described by Parasuraman, Zeithaml and Berry as two different measures (perception and expectation of performance) into a single measurement of performance according to expectation. According to Garbrand, customer satisfaction equals perception of performance divided by expectation of performance. The usual measures of customer satisfaction involve a survey with a set of statements using a Likert Technique or scale. The customer is asked to evaluate each statement and in term of their perception and expectation of performance of the organization being measured. Methodology American Customer Satisfaction Index (ACSI) is a scientific standard of customer satisfaction. Academic research has shown that the national ACSI score is a strong predictor of Gross Domestic Product (GDP) growth, and an even stronger predictor of Personal Consumption Expenditure (PCE) growth. On the microeconomic level, research has shown that ACSI data predicts stock market performance, both for market indices and for individually traded companies. Increasing ACSI scores has been shown to predict loyalty, word-of-mouth recommendations, and purchase behavior. The ACSI measures customer satisfaction
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annually for more than 200 companies in 43 industries and 10 economic sectors. In addition to quarterly reports, the ACSI methodology can be applied to private sector companies and government agencies in order to improve loyalty and purchase intent. Two companies have been licensed to apply the methodology of the ACSI for both the private and public sector: CFI Group, Inc.applies the methodology of the ACSI offline, and Foresee Results applies the ACSI to websites and other online initiatives The Kano model is a theory of product development and customer satisfaction developed in the 1980s by Professor Noriaki Kano that classifies customer preferences into five categories: Attractive, One-Dimensional, Must-Be, Indifferent, Reverse. The Kano model offers some insight into the product attributes which are perceived to be important to customers. Kano also produced a methodology for mapping consumer responses to questionnaires onto his model. SERVQUAL or RATER is a service-quality framework that has been incorporated into customer-satisfaction surveys (e.g., the revised Norwegian Customer Satisfaction Barometer) to indicate the gap between customer expectations and experience. J.D. Power and Associates provides another measure of customer satisfaction, known for its top-box approach and automotive industry rankings. J.D. Power and Associates' marketing research consists primarily of consumer surveys and is publicly known for the value of its product awards. Other research and consulting firms have customer satisfaction solutions as well. These include A.T. Kearney's Customer Satisfaction Audit process, which incorporates the Stages of Excellence framework and which helps define a companys status against eight critically identified dimensions.
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For Business to Business (B2B) surveys there is the Info Quest box[1]. This has been used internationally since 1989 on more than 110,000 surveys (Nov '09) with an average response rate of 72.74%. The box is targeted at "the most important" customers and avoids the need for a blanket survey. Improving customer satisfaction Published standards exist to help organizations develop their current levels of customer satisfaction. The International Customer Service Institute (TICSI) has released The International Customer Service Standard (TICSS). TICSS enables organizations to focus their attention on delivering excellence in the management of customer service, whilst at the same time providing recognition of success through a 3rd Party registration scheme. TICSS focuses an organizations attention on delivering increased customer satisfaction by helping the organization through a Service Quality Model. TICSS Service Quality Model uses the 5 P's - Policy, Processes, People, Premises, Product/Services, as well as performance measurement. The implementation of a customer service standard should lead to higher levels of customer satisfaction, which in turn influences customer retention and customer loyalty.

OBECTIVES OF THE STUDY

To study the customer satisfaction with reference to service after sales. To study whether the service personnel are able to discharge their duties in meeting with the customer demands. To analyze the services rendered at TVS Motors. To identity the areas where improvement could be made while handling the customer.

SCOPE OF THE STUDY

The project report is subjected to The study on the customer satisfaction on sales and service provided by TVS Motor company. The scope of the study is fully limited to the geographical extend of South Chennai City only. The scope of the project is completely dependent on the objectives of the project. A market survey and its interpretations seemed necessary for the scope of this study.

LIMITATION OF THE STUDY

The survey is done only within South Chennai City only. The sample size is selected due to convenient for the study. The constraint of time limit is felt as the duration was short and elaborate survey was not possible. Forecasting the market potential estimation is based on the data received from the general consumer of the two wheelers. The survey does not include any observation technique to observe the behavior of customer while buying the product. The sample size was limited 50 only.

COMPANY PROFILE
TVS Motor Company "Inspiration In Motion" TVS Motor is the third largest two-wheeler manufacturer in India and ranks among the top ten globally. It is the first company in the world to be honoured with The Deming Prize for Total Quality Management. The company was the first in India to launch 2seater 50cc moped and 100cc Indo-Japanese motorcycles. At present TVS Apache, TVS Victor, TVS Scooty, TVS Centra and TVS Fiero are the popular bikes in Indian market.

Quick Facts Founder Country Year of Establishment Industry T V Sundaram Iyengar India August 1980 (TVS Group in 1911)

Manufacturing of two-wheelers and auto components Business Group TVS Group Listings & its codes NSE TVS - Suzuki Ltd: TVSSUZUKI TVS Motor Company Limited: TVSMOTOR TVS Motor Company Limited: TVSSUZUKI
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Head Office

Factory

BSE TVS Motor Company Ltd.: 532343 TVS Motor Company Jayalakshmi Estates V Floor 8, Haddows Road, Chennai - 600006 Tel.: +(91)-(44)-28272233 Fax: +(91)-(44)-28257121 Post Box No. 4 Harita, Hosur - 635 109 Tel.: +(91)-(4344)-276780 Fax: +(91)-(4344)-276878 Post Box No.1 Byathahalli Village, Kadakola Post Mysore - 571 311 Tel.: +(91)-(821)-2596561 Fax: +(91)-(821)-2596550/ 2596553 www.tvsmotor.in

Website

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Segment and Brands

TVS Apache TVS Apache RTR FI 160 TVS Centra TVS Fiero FX TVS Flame TVS Scooty TVS Star TVS Victor TVS Victor GLX 125 TVS XL Super TVS 180 RTR Menace New

Milestones of TVS Motor 1980 1984 1994 1996 1997 2000 2001

India's first 2 seater 50cc Moped TVS 50, launched in Aug. First Indian Company to introduce 100cc IndoJapanese motorcycles in Sept. Launched first indigenous Scooterette (sub-100 cc variomatic scooters), TVS Scooty in June. Introduced first catalytic converter enabled motorcycle, the 110cc Shogun in Dec. Launched India's first 5-speed motorcycle, the Shaolin in Oct. Launched TVS Fiero, India's first 150 cc, 4 stroke motorcycle in April. Launched TVS Victor, 4-stroke 110 cc

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2004

motorcycle, in August, India's first fully indigenously designed and manufactured motorcycle. Launched TVS Centra in January, a worldclass 4-stroke 100 cc motorcycle with the revolutionary VT-i Engines for best-in-class mileage. Launched TVS Star in Sept, a 100 cc motorcycle which is ideal for rough terrain.

Company Flashback TVS Motor Company Limited is the flagship company of TVS Group, the USD 2.2 billion group. The Group is the third largest two-wheeler manufacturer in India and globally among the top ten, with an annual turnover of over USD 650 million. Currently, the group has more than 30 companies and employs over 40,000 people worldwide. With steady growth, expansion and diversification, it commands a strong presence in the manufacturing of two-wheelers, auto components and computer peripherals. They also have vibrant businesses in the distribution of heavy commercial vehicles (HCV) passenger cars, finance and insurance. 1980 is the red letter year for TVS when India's first two-seater moped rolled out. It ushered in an era of affordable personal transportation.

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Globally, TVS Motor Company is the first two-wheeler manufacturer to be honoured with the hallmark of Japanese Quality - The Deming Prize for Total Quality Management.

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RESEARCH METHODOLOGY
Research is a scientific and systematic search for pertinent information. The main aim of research is to find out the truth which is hidden and which has not been discovered as yet.
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Research methodology is a way to systematically solve the research problem. The quality of a product depends upon the methodology adopted for the study. Methodology in turn depends on the nature of the project work. The main strength of the project comes from the process that is collecting, synthesizing and analyzing information. In research methodology the following points are covered. Research Design Data Collection Research Instrument Sampling Plan Data Analysis

It is the conceptual structure within which research is conducted; it constitutes the blueprint for the collection, measurement and analysis of data. Research design must contain the following A clear statement of the research problem. Procedures and techniques to be used for gathering information. The population which has to be studied and
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 The methods to be used in processing and analyzing data. The research design undertaken for the study is Descriptive Research Design. These designs are determined for some specific purpose. It is focused on the accurate description of the variables present in the problem. In this study, the information provided by the respondents in the questionnaire has been analyzed to find out level of customer preference towards the services provided at TVS Motor Company. DATA COLLECTION The accuracy of the data collected, is of great significance for drawing correct and valid conclusions from the investigations. The following are the main steps in data collection process: To decide on the type of information required in the investigation. Establishing the facts that are available at present and additional facts required. Identifying the sources from where the information can be collected.

Selecting the appropriate method of collection of data.

Data collected can be either primary or secondary. PRIMARY DATA

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It is the collection of first hand information. They are original in nature and can be acquired in many ways like observations, experiment or surveys. The method adopted here for collection of primary data is Direct personal interview method where the interviewer directly interviews the respondents with a well-structured questionnaire. SECONDARY DATA It refers to the data that have already been collected and analyzed by someone else. For the purpose of the study, secondary data has been collected from books and websites. RESEARCH INSTRUMENT This instrument used in the study is questionnaire. A questionnaire consists of a number of questions printed or typed in a definite order on a form or set of forms. For the purpose of the study, a questionnaire, which contained simple and close-ended questions with suggestions of the customers, was distributed to the respondents.

SAMPLING PLAN A sampling plan consists of Sample Universe

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 Sampling frame Sample size Sampling method Sampling unit SAMPLE UNIVERSE Universe can be defined as set of items that are of any interest in any particular situation. All the customers of TVS MOTOR COMPANY form the universe in the study. SAMPLING FRAME It is a list consisting of sampling units. Sampling frame of the study includes all the customers of TVS Motor Company.

SAMPLE SIZE This refers to the number of items to be selected from the universe to a sample. The size of
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the sample should neither be excessively large not too small. An optimum sample is one that fulfills the requirements of efficiency, representativeness, reliability and flexibility. The size of the sample for the study is 50.

SAMPLING METHOD

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Sampling may be of two types. Probability or random samples and non-probability purposive samples. Random samples are those in which samples are selected in such a manner that every member of the universe has an equal chance of being included or excluded in it. Purposive samples are made to meet the specific requirement of a specific nature. For the study, we have adopted convenience sampling, which is non-probability sampling method. Convenience sampling consists of the collection of information from any convenient group whose views may be relevant to the subject of enquiry. SAMPLING UNIT All the respondents, i.e. each of the customers, selected for the study forms the sample unit. DATA ANALYSIS The data after collection has to be processed and analyzed with the outline laid down for the purpose at the time of developing the research plan. This is essential for a scientific study and ensuring that we have all relevant data for making contemplated comparisons and analysis. Statistical tools used for the study: Percentage Analysis. Weighted Average Method.

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PERCENTAGE ANALYSIS Percentage analysis is one of the traditional statistical tools. The data in this method are reduced in the standard from with base equal to hundred which facilitates relative comparison. Formulae used to calculate percentage analysis is Percentage of respondents= Number of respondents X 100 Total respondents Percentage analysis has been used to analyze the customers preference towards various factors such as price, services provided, promotional activities etc. WEIGHTED AVERAGE METHOD This is the method wherein weights are attached to the items. The term weight stands for relative importance of different items. For the purpose of analyzing the questions where the customers have given ranks, weights have been assigned to various ranks. The weighted average score is calculated by multiplying the number of responses in a cell with their relative weight and the whole row is summed up to give the weighted score for the factor. Data analysis and interpretation is an attempt to organize and summaries data in order to increase results and usefulness in such a manner that it enables the researcher to relate critical points with the study objective. This organizing and
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summarizing of data, require the use of statistical tools such as percentages and averages. Information provided by the respondents in the questionnaire has been analyzed and results are represented in the form of tables and charts. Percentage analysis has been used to analyze the customers preference towards various factors such as price, service provided, promotional activities etc. Weighted average has been used to rank the various attributes that influenced the respondents to avail the services at TVS Motor Company.

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DATA ANALYSIS AND INTERPRETATION Table 1 shows the brand which respondent prefer OPTIONS YAMAHA BAJAJ TVS HERO HONDA TOTAL NO OF RESPONSE PERCENTAGE 0 0% 0 50 0 50 0% 100% 0% 100%

INFERENCE :
100% of the respondents prefer TVS

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Graph 1 shows the brand which respondent prefer

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

100%

0%

0% TVS

0% HERO HONDA

YAMAHA BAJAJ

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Table 2 shows customers come to know about this product OPTIONS Advertisement Friends Others TOTAL NO OF RESPONSE PERCENTAGE 25 22 3 50 50% 44% 06% 100%

INFERENCE :
50% of them responded to advertisement. 44% of them responded to friends. 06% of them responded to others.

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Graph 2 shows customers come to know about this product

50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%

50%
R VE AD T EN EM TIS

44%
DS I EN FR

6%
R HE OT

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Table 3 shows factors caused to select this bike OPTIONS

Brand image Reputation of the company Service after sales

NO OF RESPONSE 22 18 10 50

PERCENTAGE 44% 36% 20% 100%

TOTAL

INFERENCE :
44% of them responded to brand image. 36% of them responded to reputation of the Company. 20% of them responded to service of sales.

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Graph 3 shows factors caused to select this bike

45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 44%

BRAND IMAGE

36%

20%

REPUTATION OF SERVICE AFTER THE COMPANY SALES

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Table 4 shows customers usage of this bike OPTIONS 1yr-2yrs 2yrs-5yrs Above 5yrs TOTAL NO OF RESPONSE 17 22 11 50 PERCENTAGE 34% 44% 22% 100%

INFERENCE :
34% of them responded to 1yr-2yrs. 44% of them responded to 2yrs-5yrs. 22% of them responded to above 5yrs.

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Graph 4 shows customers usage of this bike

45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 34% 1yr2yrs 44% 2yrs5yrs 22% above 5yrs

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Table 5 shows service periods of the bike OPTION Once in 3 months Once in 6 months Once in a year TOTAL NO OF RESPONSE 23 22 5 50 PERCENTAGE 46% 44% 10% 100%

INFERENCE :
46% of them responded to once in 3 months. 44% of them responded to once in 6 months. 10% of them responded to once in a year.

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Graph 5 shows service periods of the bike

Once in a year 10%

Once in 3 months 46% Once in 6 months 44%

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Table 6 shows ranking of some criteria

OPTIONS

NO OF RESPONSE
(IN PERCENTAGE)

TOTAL Poor 04% 12% 02% 04% 100% 100% 100% 100%

Excellent Color 32% Speed 32% Appearanc 22% e Comfort 42%

Good 46% 48% 56% 44%

Fair 18% 08% 20% 10%

INFERENCE :
COLOR:32% of them responded to excellent, 46% of them responded to good, 18% of them responded to fair, 04% of them responded to poor. SPEED:32% of them responded to excellent, 48% of them responded to good, 08% of them responded to fair,
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12% of them responded to poor.

APPEARANCE:22% of them responded to excellent, 56% of them responded to good, 20% of them responded to fair, 02% of them responded to poor. COMFORT:42% of them responded to excellent, 44% of them responded to good, 10% of them responded to fair, 04% of them responded to poor.

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Graph 6 shows ranking of some criteria

60% 50% 42% 40% 30% 20% 10% 0%

Ex ce l le nt

44%

10% 4%

Color Speed Appearance Comfort

Go od

Fa ir

Po

or

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Table 7 shows customers feel about the response from executives while selecting the bike OPTIONS Excellent Good Satisfactory Bad TOTAL NO OF RESPONSE 05 29 13 03 50 PERCENTAGE 10% 58% 26% 06% 100%

INFERENCE :
10% of them responded to excellent. 58% of them responded to good. 26% of them responded to satisfactory. 06% of them responded to bad.

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Graph 7 shows customers feel about the response from executives while selecting the bike

60% 50% 40% 30% 20% 10% 0% 26% 10%

Excellent Good Satisfactory

58%

6%
Bad

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Table 8 shows price of the vehicle OPTIONS Costly Affordable Low price TOTAL NO OF RESPONSE 10 35 05 50 PERCENTAGE 20% 70% 10% 100%

INFERENCE :
20% of them responded to costly. 70% of them responded to affordable. 10% of them responded to low price.

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Graph 8 shows price of the vehicle

Low price 10%

Costly 20%

Affordable 70%

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Table 9 shows delivery of the serviced vehicle

OPTIONS Within Stipulated time Delay TOTAL

NO OF RESPONSE 41 09 50

PERCENTAGE 82% 18% 100%

INFERENCE :
82% of them responded to within stipulated time. 18% of them responded to delay.

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Graph 9 shows delivery of the serviced vehicle

90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Within stipulated time 82% 18% Delay

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Table 10 shows availability of product in showrooms OPTIONS Always available Always not available Sometimes available TOTAL NO OF RESPONSE 28 03 19 50 PERCENTAGE 56% 06% 38% 100%

INFERENCE :
56% of them responded to always available. 06% of them responded to always not available. 38% of them responded to sometimes available.

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Graph 10 shows availability of product in showrooms

60%

56%

50% 38%

40% 30%

20%

10% 0% Always available

6%

Always not available

Sometimes available

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Table 11 shows mileage of the vehicle OPTIONS Good Moderate Poor TOTAL NO OF RESPONSE 22 24 04 50 PERCENTAGE 44% 48% 08% 100%

INFERENCE :
44% of them responded to good. 48% of them responded to moderate. 08% of them responded to poor.

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Graph 11 shows mileage of the vehicle

Poor

8% Poor Moderate

Moderate

48%

Good

Good

44%

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FINDINGS
1. From the survey 25 of them responded that they come to know about the product through advertisements, 22 of them through friends, 3 of them through others. 2. From the survey 22 of them responded they select the bike for brand image, 18 of them responded for reputation of the company, 10 of them responded for service after sales. 3. From the survey 17 of them responded that they are using the bike for 1yr-2yrs, followed by 22 of them are using 2yrs-5yrs and 11 of them are using above 5yrs. 4. From the survey 23 of them responded that they use to service their vehicle once in 3 months, followed by 22 of them responded once in 6 months and 5 of them responded once in year. 5. From the survey 5 of them responded excellent for selecting the vehicles by executive, 29 of them responded as good, 13 of them responded as satisfactory, 3 of them responded as bad. 6. From the survey 10 of them responded that the price of the vehicle costly, 35 of them responded the price as affordable, 5 of them responded the price as low price.
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7. From the survey 41 of them within accepted that the vehicle delivered in stipulated time, 9 of them responded there is a delay in delivering the vehicle.

8. From the survey 28 of them responded that product is always available, 3 of them responded that the product always not available, 19 of them responded sometimes available. 9. From the survey 22 of them responded the mileage as good, 24 of them responded as moderate, 4 of them responded as poor.

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SUGGESTIONS
1. TVS Motor Company should focus on more advertisement. 2. Compliments should be given to those customers who Service their bike at a maximum cost

3. TVS Motor Company should extent more attention towards customers and make the fully supplied with the service.

4. The TVS Motor Company should improve the latest

technology to attract more customers.

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CONCLUSION 1. A concentrate more on customers enquiry and have to

work accordingly to their expectations. 2. Shift systems can be implemented in order to create more employment opportunity as well as to satisfy the customer to his care extent by concentrating the individual customers. 3. Since the customers are attracted by advertisement. So the level of advertisement can be improved to attract more customers.

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BIBLIOGRAPHY

Marketing Management Principle of Service

Philip Kotler

Marketing & Management - Christopher H Lovelock Louren k Wright

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ANNEXURES
A STUDY ON CUSTOMER SATISFACTION WITH SPECIAL REFERENCE TO TVS MOTOR COMPANY

Name of the respondent :Gender Age Income (per annum) Contact no ::::Male Female

15yrs-20yrs 20yrs-30yrs above 30yrs 1,00,000 -2,00,000 3,00,000 -4,00,000 2,00,000-3,00,000 above 4,00,000

Questionnarie
1. Which of the following brand would you prefer? Yamaha TVS Bajaj Hero Honda

2. How do you come to know about this product? Advertisement Friends Others

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3. Which of the following factors caused you to select this bike? Brand image Service after sales Reputation of the company

4. How long have you been using this bike? 1yr-2yrs above 5yrs 2yrs-5yrs

5. How frequent you use to service your vehicle? Once in 3 months Once in year Once in 6 months

6. How do you rank the following criteria or variable? Excellent Color Speed Appearance Comfort 7. How do you feel about the response from executives while selecting the vehicles? Excellent Satisfactory Good Bad Good Fair Poor

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8. How do you feel about the price of the vehicle? Costly Affordable Low price

9. How do you perceive about the delivery of the serviced vehicle? Within stipulated time Delay

10. How do you feel about the availability of the product you demand? Always available Sometimes available Always not available

11.How do you feel about the mileage of the vehicle? Better Moderate Poor

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