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INTRODUCTION
Perhaps the most distinctive skill of professional marketers is their ability to create, maintain, protect, and enhance brands. Branding is the art and cornerstone of marketing. The American Marketing Association defines a brand as: a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. Thus a brand denitrifies the seller or maker. What distinguished a brand from its unbranded commodity counterparts is the consumers perceptions and feelings about the products commodity counterparts is the consumers perceptions and feelings about the products attributed and how they perform. Ultimately, a brand resides in the minds of consumers. A brand can be better positioned by a associating its name with desirable benefits. A brand is much more than a name, logo, colors, a tagline, or symbol . These are marketing tools tactics. A brand is essentially a marketers promise to deliver a specific set of feature, benefits and services consistently to the buyers. The marketer must establish a mission for the
advertising but by the brand experience. Brands vary in the amount of power and value they have in the marketplace. At one extreme are brands that are not known buy must buyers then there are brands for which buyers have a fairly high degree of brand awareness. Beyond this are brands with a high degree of brand acceptability. We define brand equity as the positive differential effect that knowing the brand name has on customer response to the product or service. Brand equity results in customers showing a preference for one product over another when they are basically identical. The extent to which customers are willing to pay more for the particular brand is measure of brand equity. A brand needs to be carefully managed a so that its equity does not depreciate. This requires maintaining or improving brand awareness, perceived quality and functionality, and positive associations. These tasks require continuous R and D investment, skillful advertising, and excellent trade and consumer service.
The passenger car in India has been considered as luxury item. Only a rich and the super rich could afford a car. In the 50s and 60s owning a car was the ultimate statement of having made it in life. There were just
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3 major players namely Hindustan motors, Premier Automobiles and Standard Motors. The models they offered were the Baby Hindustan, its later version called the Ambassador, the Fiat 1100 and the Standard Herald, which fought for market share in a fairly stagnant market. The Ambassador and the Fiat were the front-runners with the coming of the third. There were other players in other segments like the Wily Jeep and Mahindra & Mahindra offerings. The late 70s saw a movement to produce a people car an attempt to bring the less rich into the fold of the more fortunate ones. And so a seed was sown called the Maruti 800.
About the Company HYUNDAI MOTOR COMPANY A number of players have come in the car industry in few years, many new models, new services and benefits according to the customer taste and preference. A new category continuous to be dominated by the leader like Maruti Udyog, Hyundai, Daewoo, Fiat, Suzuki, Tata etc., but the consumers may soon be able to pick up the models of different companies. In recent years passengers car chassis construction has been forced to shape itself redesigned bodies. While in the field of truck design, body chassis problem now get simultaneous consideration to a greater extent than ever before. Cars provided the facility to the owners that are safe, easier to drive, more reliable and comfortable.
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IMPORTENCE OF THE STUDY The motive of the any company is to generally acquire larger market share high % of sales the Industry, This could be only achieved by building a higher % of brand loyal customers. Any company can survive through there is a stiff computational the market if its has brand loyal customer. Today many major companies in the market if its has brand loyal customers. To day many major companies in the market try to
maintain and improve there branded equity. With out creating a proper Brand awareness they cannot build brand image. Strong brands help build the corporate image and also by making it eager for the companies launch new brands. Today brands are treated, as major enduring assets of a company-more over brand equity are major contributor to customer equity. This all can happen only there is proper brand awareness. The light four wheeler industry has been expanding rapidly are gone the day when possessing a small and mid-size cars was seen as a luxury. Now days it is viewed s a mere necessity. Scope of the Study The overall scope of the present study considers all the variables and factors that have major impact over the customers in considering particular brands. This especially included how a customer regally evaluate recognizes the brand and what position particular brand occupies in the customer mind.
This includes how a customer gets attracted towards the brands and what makes a brand highly significant over their competitive brand. The study includes how hand awareness among potential customers can be maintained and improves. The project has been done in Pune city only. The survey was confined only to Hyundai customers to presently posses only Santro. The survey was especially focused on existing Santro owners for finding how they are influenced by the brand and what made them aware of the brand. After the survey was done the
data was analyzed and also relevant suggesting were made in order to improve its brand awareness towards Santro
COMPANY PROFILE
Hyundai Business Group is a South Korean company, which entered into business activities way back in 1947 seeing the rapid industrialization and modernizationtaking place around the world. It brought an international recognition to its country through its operations round the world and paved its way to modern economic growth. Hyundai group is composed of 50 subsidiaries like Ship Building, Engineering & Construction, Heavy Industries, Machinery, Iron and Steel, Electronics, Aerospace, Telecommunications, Information and Technology, as well as Financing petrochemicals energy trade and service sectors.
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In 1960s it involved in the construction industry. In 1970, it concentrated on shipbuilding, automobile, steel and machine industries and laid a foundation for Korean heavy industry. In 1980, it launched high tech industries such as electronics robot petroleum, space and aircraft. In 1990, developed new technologies reformed management and stressed training human resources, with the aim to become the No.1 Corporation in the world. AYS Automobiles Pvt, Ltd., started the dealership of Hyundai cars at Rajahmundry for West Godavari Districts April, 1999. So far, AYS sold about 309 Santros and 100 Accents and 2 Sonatos. The companys turnover till date is around 16 crores. The company has earned an amount of Rs. 72 lakhs by way of dealer margins and sale of spares & accessories; by earning profit in the first two years of operations. The workshop is equipped with the latest technology equipments as per Hyundai specifications and is contributing Rs. 25 lakhs of revenue to the company. The total value of Machinery & Equipment is worth Rs. 25 lakhs. The workshop also has an emergency road service to attend complaints 24 hours a day anywhere in the territory. The show room is on the NH-5 and is designed as per the Hyundai Motor Indias standard pattern and is well lit to display the cars. HYUNDAI MOTOR INDIA LIMITED Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company, S. Korea and is the second largest and the fastest growing car manufacturer in India. HMIL presently markets over 18 variants of passenger cars across four models, the Santro in the B segment, the Accent in the C segment, the Sonata in the E segment and the Terracan in the SUV segment. The company
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recorded combined sales of 150,741 units during calendar year 2003 with both Accent & Santro emerging leaders in their respective segments. HMILs fully integrated state-of-the-art manufacturing plant near Chennai boasts some of the most advanced production, quality and testing capabilities in the country. The company is investing an additional US$ 220 Mn to expand capacity at this plant to 250,000 units a year in line with its recent designation as HMCs global export hub for small cars and to cater to its upcoming product launches India. HMIL has sold over 500,000 cars in a record time of just over 5 years since commencement of commercial production in September 1998 and is all set to emerge as one of largest exporters of passenger cars and components out of India. HMIL was recently awarded the benchmark ISO 14001 certification for its sustainable environment management practices. Hyundais fully integrated manufacturing capabilities include: The Press Shop A computer controlled line that converts sheet metal to body panels of high dimensional accuracy and consistency. The Body Shop A hi-tech line that builds full body shells from panels. Automated robotic arms are used for intricate welding operations that ensure superior and consistent build quality.
The Paint Shop This is one of the most modern paint shops in the country and uses the environment friendly water based process for superior and lasting exterior. A unique process management system followed here helps us deliver the most extensive colour range, independent of minimum batch requirements, helping customers get their preferred colour anytime. The Aluminum Fondry Forges the engine cylinder blocks for our cars to exacting design specifications. The Engine and Transmission Shop One of the biggest engine shops in the country, this unit is equipped with the most modern tooling and testing facilities to make a wide range of engines in house. The Plastic Extrusion Unit Moulds the dashes, bumpers and other plastic components to perfect fit and finish. The Plastic Paint Shop One of the very few manufacturing units in India to have this facility in-house, Hyundais plastic paint shop delivers a high grade finish on exterior plastic components. The Test Track With comprehensive performance testing facilities like rattle testing and ABS brake testing, this track is designed to meet pre-delivery (PDI) certification standards to exacting Euro specifications.
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Brand-Strategy Decisions: A company has five choices when it comes to brand strategy. There are line extensions, brand extensions, multi-brands, new brands and co-brands. 1. Line Extension: Line Extensions consist of introducing additional items in the same product
category under the same brand name, such as new flavors, forms, colors, added ingredients and package sizes. Brand Extensions: A company may use its existing brand name to launch new products in other categories. 1. Multi-Brands:
A Company will often introduce additional brands in the same product category. Sometimes the company is trying to establish different features or appeal to different buying motives.
2.
New Brands:
When a Company launches products in a new category, it may find that none of its current brand names are appropriate. 3. Co-Brands which two or more well known
ingredient co-branding, Second one is same company co-branding, Third one is joint venture co-branding. And finally there is multiple-sponsor co-branding.
Brand Repositioning: However well a brand is currently positioned, the company may have to reposition it later when facing new competitors or changing customer preferences. Brand Awareness: Nine Brand Strengtheners: As Companies become more aware of the importance of brand power, they wonder how they can strengthen their brands. Most managers think the answer lies in increasing the advertising budget. But advertising is expensive and it is not always effective. Advertising is only one of nine ways to build more brand awareness and brand preference.
Develop creative advertising. Sponsor well-regarded events. Invite your customers to join a club . Invite the public to visit your factory or office Create your own retail units. Provide well-appreciated public services. Give visible support to some social causes.
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Be known as a value leader. Develop a strong spokesperson or symbol to represent the Company.
Brand-Sponsor Decision: A manufacturer has several options with respect to brand sponsorship. The product may be launched as a manufacturer brand (sometimes called as National Brand), a distributor brand (also called reseller, store, house or private brand), or a licensed brand name. Another alternative is for the manufacturer to produce some output under its own name and some under reseller labels. Manufacturers brands dominate, large retailers and wholesalers have been developing their own brands by contracting production from willing manufacturers. The private brands offer two advantages. First, they are more profitable. Intermediaries search for manufacturer with excess capacity who will produce the private labels at a low cost. Other costs, such as research and development, advertising, sales production and physical distribution are much lower. This means that the private brands can charge a lower price and yet make a higher profit margin. Second, retailers develop exclusive store brands to differentiate themselves from competitors. Brands vary in the amount of power and value they have in the market place. At one extreme are brands that are not known by most buyers. Then there are brands for which buyers have a fairly high degree of brand awareness. Beyond this are brands with a high degree of brand acceptability. Then there are brand that enjoy a high degree of brand preference. Finally there are brands that command an high degree of brand loyalty.
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The following are the 5 levels of customer attitudes toward his/her brand from lowest to highest:
Customer will change brands, especially for price reasons, not brand loyalty Customer is satisfied. No reason to change the brand. Customer is satisfied and would incur costs by changing brand. Customer values the brand and sees it as a friend. Customer is devoted to the brand. Brand equity is related to how many customers are in classes 3,4 or5. It is also related to the degree of brand-name recognition, perceived brand equity, strong mental and emotional associations and other assets such as patents, trademarks and channel relationships. Companies do not normally list brand equity on their balance sheet because of the arbitrariness of the estimate. But clearly brand equity relates to the premium the brand commands times the extra volume it moves over an average brand. The worlds 10 most valuable brands in 1997 in rank order were coca-cola,
Marlboro, IBM, McDonalds, Disney, Sony, Kodak, Intel, Gillette and Budweiser. High brand equity provides a number of competitive advantage:
The Company will have more trade leverage in bargaining with distributors
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The Company can charge a higher price than its competitors because the
The Company can more easily launch extensions because the brand name
The brand offers the company some defense against price competition. A brand name needs to be carefully managed so that its equity doesnt
depreciate. This requires maintaining or improving brand awareness perceived quality and functionality, and positive associations. These tasks require continuous research and development investment, skillful advertising and excellent trade and consumer service.
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Branding Decisions
Brand Name
Brand No Brand
Individual Names Blanket Family Name Separate Family Company Individual Names
Brand-Repositioning Decisions
Repositioning No Repositioning
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OVER VIEW OF THE INDIAN CAR MARKET Automobile industry in India is currently experiencing demand for the vehicles of different types. This is due to volcanic increase in the number of the vehicles of all categories and all types of the vehicles. The reason for this is the Indian economy which was closed till then. This is the sectors of the economy which benefited greatly by globalization and liberalization. The face of the industry has changed to such an extent just a decade age one would fail to recognize it as the Indian auto industry. Today the Indian market does not witness just as Ambassador Fiat competition. Rather it has become a battle field for it is witnessing cut throat competition between the world from this brands like FORD, HONDA, MERCEDES, HYUNDAI, DAEWOO. Infact the leading market leader MARUTI has lost a sizable crunch of its market share from a magical mesmerizing 80% to 66.2% during the same period. Hyundai plant was setup in Sriperambundur, 30km outside Chennai in a record time. This shows a commitment to the Indian customer and Indian auto industry. The first Hyundai Santro was launched on October 20, 1998. Santro was set to be the best package for the budget car buyer.
Y.S.KIM (Yang. Soo.Kim) is the Managing Director of Hyundai Motor India. The Korea and Indian Engineers pore their efforts for the efforts for the production Santro prototypes. The manufacturing style of Hyundai Santro has not been the same as Maruti Udyog, which initially imported C.K.D kits for the first Maruti 800. The manufacturing process begins with coiled steel arriving from
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South Korea. The entire auto industries in India rely on imported steel to manufacture vehicle body structure, as locally available steel cannot be effective. The assemble of the car is mostly manual HMI has set up a allimem foundry on site to produces cast components like cylinder heads and gear box casings. The reasons for Hyundai rapid implementation were wholly owned subsidiary HMI could speed up the decision making process. It did not have to conduct a local partner which might have slowed things down. This points towards two things the market has become competitive and dynamic 1. 2. Even the market leader cannot take its market share and the customers The changing tastes and loyalty of the customers and subsequently the ultra
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OBJECTIVES
The study has been conducted with the following objectives in mind:
1. To know how brand awareness made customer to purchase product (Hyundai car) 2. To know factors and variables of brand influence them to purchase. 3. To know what position does the brands has in the minds of customers. 4. To know how they became aware of the brand (Santro) 5. To know level of satisfaction about the brand awareness ( Santro) offered by Hyundai. 6. To find out the market potential for Hyundai cars ( Santro). 7. To know how maintain and improve brand awareness build brand loyalty.
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RESEARCH METHODOLOGY
Methodology adopted for this project work is as follows 1. Type of Data Primary Data Secondary Data.
3.
Type of Data:-
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Primary Data: Primary data is such data which is original in nature and collected by the researcher itself for its own purposes. My project report is based on the primary data which is collected through the questionnaire designed according to customers. Secondary data: Secondary data is the data which is collected prior to the present study work. Any data that is available prior to the commencement of the research project is called secondary data and is also called historical data. I have collected secondary data from the website of Hyundai and some other research papers and reports.
Structured Questionnaire:- In this type of questionnaire the formal list of questions to be asked to the respondents to collect facts, views or opinions. During the course of an interview, the questions are to be asked strictly in accordance with pre arranged order irrespective of number of interviewers appointed.
Non-disguised Structured Questionnaire:- Here objective of an inquiry is disclosed to the respondents. The issue involved is relatively unimportant and more general in practical nature. Random Sampling:Random sampling means systematic, pre-determined and pre-arranged
LIMITATIONS
Even though the project has been done without most cars, it suffers the following limitations. 1. Due to lack of time all customers, could not be contracted. 2. The study has been restricted to Pune city only. 3. As the project is a simple sample study and is confined to 100 customers only, if may or may not pictures the entire customer feelings. 4. The awareness levels of the customers may change from time to time and so there is a possibility of changes in the research results. 5. Few customers refused to respond or could not respond appropriately due to Lack of time, Ignorance etc., from
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60 50 40
25-45
30 20 10 0 NO.OF CUSTOMERS
Interpretation: From the above table, we can observe that 52% of the people belongs to 25 45 age group, 40% of the people belongs to 45 - 65 age group and 8% of the people belongs to 65 and above. The analysis shows that most of the people belongs to 25 45 age.
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2. GENDER
GENDER
OF
PERCENTAGE
13%
87%
Interpretation: From the above table we can observe that among 200 customers 87% are Males and 13% are Females.
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3. Occupation OCCUPATION Business Professional Student Employee Total NO.OF CUSTOMERS 38 30 7 25 100 PERCENTAGE 38% 30% 7% 25% 100%
40 35 30 25 20 15 10 5 0
38 30 25
Business Professional Student Employee
NO.OF CUSTOMERS
Interpretation: From the above table, we see that 38% of the people belongs to Business, 30% of the people from Professionals, 7% of the people from students and 25% of the People belongs to Employees. The analysis shows that major part of the people belongs to Business category.
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INCOME
PERCENTAGE
14% 34%
52%
Interpretation: The income status reveals that 34% of them are having less than 20,000 and 52% of them were between 20,000-40,000 and the remaining 14% were above 40,000. The analysis shows that the people who having income per annum in between 20,000-40,000 are more.
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5. FAMILY SIZE
FAMILY SIZE
OF
PERCENTAGE
90 80 70 60 50 40 30 20 10 0 1 to 2 3 to 5 5 & above
Interpretation:Family size reveals that 10% of the people are having 1-2 family size, 78% of the people are having 3-5 family size and 12% of the people are having above 5 family size. The analysis shows that the family size having 3-5 are using more.
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PURPOSE
PERCENTAGE
Interpretation: From the table, we can observe that 45% of the people purchase the car for the purpose of utility, 51% of the people purchase for necessity and 4% people purchase for status. The analysis shows that most of the people that is 51% purchase for necessity.
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7. Factors Influence To Buy Santro FACTORS Style Price Brand image Performance Publicity Total NO.OF CUSTOMERS 14 18 30 20 18 100 PERCENTAGE 14% 18% 30% 20% 18% 100%
30 25 20 15 10 5 0 NO.OF CUSTOMERS
Style Price Brand image Performance Publicity
Interpretation:From the table, we can examine that 14% of the people prefer style, 18% of the people prefer price, 30% of the people opt for Brand image, 20% of the people have a preference on Performance and 18% of the people opt for Publicity for buying the Santro Car. The analysis shows most of them consider Brand image while buying.
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8. Influecne To Purchase The Car FACTORS Myself Family Members Friends Relatives Advertisements Others Total NO.OF CUSTOMERS 20 15 22 5 34 4 100
34%
Myself Family Members Friends Relatives Advertisements Others
30%
22% 15% 5% 4%
PERCENTAGE
Interpretation: 20% of the people are decided to purchase the car on themselves, 15% of the people are influenced by family members, 22% of the people are
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influenced by relatives, 34% of the people are nfluenced by advertisements and rest of the people are influenced by other factors.. 9. Impact Of Shahrukh Khan On Sales
IMPACT
OF
PERCENTAGE
Yes No Total
44% 56%
Interpretation:
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From the table, we see that 56% of the people say that Sharukh Khan has the impact of increase in sales whereas 44% of the people say that Sharukh Khan has no impact of increase in sales. 10.GOOD VALUE
GOOD VALUE
OF
PERCENTAGE
Yes No Total
92% 8% 100%
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Interpretation:
100 90 80 70 60 50 40 30 20 10 0
92
Yes
No
From the table, we observe that 92% of the people feel that Hyundai products give Good Value for money whereas 8% of the people feel that Hyundai products do not give Good Value for money. 11.PRICING OF THE CAR
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PRICING LEVEL
OF
PERCENTAGE
Excellent
Good
Interpretation: From the table, we observe that 5% of the people feel that the Price of the car is Excellent, 64% of the people feel that it is Good, 31% feel it is satisfactory and none of them are dissatisfied with the Price of the product. The Highest % of the people feel that the Price of the car is Good.
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CUSTOMERS 89 11 100
100 90 80 70 60 50 40 30 20 10 0 Yes No 11 89
Interpretation: From the table, we can observe that 89% of the people say that Santro car is superior to competitors cars and 11% says that it is not.
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FINDINGS
The following details can be inferred after analysis with a simple size of 100, which included customers, by questionnaire method to find out the brand awareness towards Santro with reference to GEETA HYUNDAI. Most of the customers relating to Hyundai belong to the category of employees as they occupy 30% of the entire customers. industrialists as they occupy 24% of the customers. Most of the customers have bought the car 2 years back. The promotional strategy of Hyundai is advertisement of which electronic media and by press media are playing a vital role. Out of the models of Hyundai the most popular brand is Santro because it is possessed by 45% of the customers. Most of the customers are aware of educational programs that are being conducted by Hyundai to the maintenance of the car. Though the customers are having good awareness levels regarding the programs being conducted by Hyundai, they are not attending the programs because of various reasons. The customers find some problems regarding the mileage of Santro while comparing with the remaining models. The next to them comes
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CONCLUSION
1. The market of Hyundai cars (Santro, Accent and Sonata) is growing at rapid speed. Hyundai being one of the dominating and leading players in passenger car market is expected to attract significant attention among the investors. 2.In this Automobile segment there has been heightened competition with other leading players like Maruti, Honda, Ford and many others. 3.As there was competition in small car industry, there was reduction in prices of the cars and modifications done with the existing product (e.g., Santro to Santro Xing) and were introduced in the market. Hyundai small car segment has occupied second position in the market share. 4.Majority of the people have informed Brand Awareness toward Santro. Most of the customers are very much satisfied with the services offered by the company while few of them are not satisfied due to minor problems of the car. 5.Many of the students rated the Brand Awareness as excellent very few of them have rated as satisfactory. 6.All the respondents are very happy with the warranty period given for the cars by the company but many of them have complaints with the mileage and seating comfort of the car. 7.Many of the respondents have stated that the prices charged on services are high when compare to other companys services (e.g. Maruti) Finally the customers are very happy about Brand Awareness toward Santro.
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SUGGESTIONS
1. Basing on the survey findings and analyzing the attitudes of respondents, the following suggestions can be given regarding the Brand Awareness towards Santro. 2. The company has to pursue the complaints of the respondents about the performance of the cars engine. This suggestions has been given basing on the complaints of customers regarding its problems like low mileage 3. Making the Driving seat and Passenger seat more comfortable so that the driver and passengers could have a comfortable drive. 4. Analyzing the complaints given by many customers regarding uncomfortable seats has made its suggestion. 5. Transaction and value based loyalty programs can be conducted
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QUESTIONNAIRE
(With Reference to Hyundai Santro) NAME OF THE RESPONDENT: ADDRESS OF THE RESPONDENT: PHONE NO:
1.
(a) 25-45
2.
(a) Male
3.
(a) Business
4.
(a) < Rs. 2,00,000/(c) Rs. 4,00,000 and above 5. FAMILY SIZE: b) 3-5
(a) 1-2
c) 5& above
6.
(a) Utility
7.
(e) Publicity
8.
(a) Myself (b) Family Members Relatives (e) Advertisements (f) Others
9.
d) Technically good
11.
HOW DO YOU FEEL THE PRICING OF THE CAR? b) Good (d) Unsatisfactory
12.
13.
__________________________________________________________________ __________________________________________________________________
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BIBLIOGRAPHY
Book referred
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