Professional Documents
Culture Documents
The use of attitudes as predictors of purchase behavior has long been a source of some
dispute. And customer satisfaction research demonstrates the need for continuous improvement.
Customer satisfaction is moving target. Customer expectations and performance standard are
continually changing, because the competition is also working to meet or exceed customers
requirement
I am taking the study because The study is helpful to understand corporate customers
expectations from a complete range of MINDA products. What modifications required in the
current strategies in order to make maximum presence in corporate market.
This project was concerned with a comparative study of customers buying behaviour and
satisfaction towards products, service network and sales functioning in MINDA.
I was in direct contact with the organization and corporate customer who gave me
valuable information.
The tools used for data collection were questionnaires and personal interviews. Internet
was used as a source for secondary data.
The study considered customer base questionnaires and sample size 12.
The training helps the management student in converting his theoretical knowledge in
practical knowledge because now he is doing practical work.
The present research has been done for the MINDA & its Potential during my summer
training.
The study of consumers helps firms and organization to improve their marketing strategy
by understanding issue such as how consumer think, feel reason, and select between different
alternatives (e.g. brands, products).
OBJECTIVES OF STUDY:
The perspective I take is to touch on just the basic concepts that appear to be commonly
accepted as influencing customer behavior. In this section I will examine the Buying Behavior of
corporate customers and will examine factors that influence buyers decisions in the corporate
segment. Here I can describe the objective of my study in following manner:
Understanding how businesses make purchase decisions.
Competitive analysis of future market in corporate segment.
To deliver a statistical measurement of opportunity for management decision making.
CHAPTER ARRANGEMENT
CHAPTER-1
This chapter of the project report includes the introduction, objective, and sample size,
period of study, methodology, and limitation of the study.
2
CHAPTER-2
This part of project report states the theoretical background and profile of the company.
CHAPTER-3
This part of project report contains data analysis on the basis of questionnaire and
Findings.
CHAPTER 4
In this part of the project report I finally conclude the project with some recommendation.
PERIOD OF STUDY
The period of the study consists of two months from 15st June 2011 to 31th july. 2011
in Minda Acoustics Limited Rudrapur. Uttarakhand.
SAMPLED SIZE
The survey was conducted among 12 organizations.
RESEARCH METHODOLOGY
DATA COLLECTION
Data were collected on the basis of simple random sampling, which was collected with the
help of questionnaire method. For this research I used two types of data:
Primary data
Secondary data
PRIMARY DATA
The questionnaire was made to collect primary data.
SECONDARY DATA
It includes the:3
Study of newspapers
Research on websites
Company magazine
Primary data was used because until unless you do not reach to the consumers, we will
not able to get the feedback is helpful in our study. Primary data gives a clear picture of the
current status.
Secondary data was used because it gives the true, past record of the product. And gives
the comments of expert from market, which is quite beneficial for further analysis.
OBSERVATION
I am very thank full to the MINDA company that they are provide me a chance for
training in their esteemed company near about 6 weeks, This 6 weeks period was quite very
interesting I have learn a lot about the marketing effort Of the company Because of limited time
period I have done a survey about the company Customer of satisfaction
For the fulfillment of the whole survey purpose the knowledge of Research Methodology
(lean in the past semester) helped very much tome. There are five steps in the whole survey
process i.e.
Defining objective
Clearing hypothesis
Data collection
Data analysis
Result
QUESTIONNAIRE METHOD
It is very simple diagnostic tool &is a fastest method of collection data. In order to get an
unbiased data well-defined structure questionnaire was prepared for customer. Then data was
collected & analyzed to get the actual information & contain the truly reflected picture.
THEORETICAL BACKGROUND
A persons feelings of pleasure or disappointment resulting from companies a product
perceived performance (or out come) in relation to his or her expectation.
Many companies are aiming for high satisfaction because customers who are just
satisfied still find it easy to switch when a better offer comes along. Those who are highly
satisfied are much less ready to switch. High satisfaction or delight creates an emotional affinity
with the brand, not just a rational preference. The result is high customer loyalty.
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/
5
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 satisfaction is 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 Berry, Brodeur between 1990 and 1998defined 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, Inter-departmental Teamwork, Front line Service
Behaviors, Commitment to the Customer and Innovation. These factors are 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 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 the performance of the organization being measured.
Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm
needs to analyze buying behavior for:
6
Buyers reactions to a firms marketing strategy has a great impact on the firms success.
The marketing concept stresses that a firm should create a Marketing Mix (MM) that
satisfies (gives utility to) customers, therefore need to analyze the what, where, when and
how consumers buy.
Marketers can better predict how consumers will respond to marketing strategies.
Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual
purchasing is only one stage of the process. Not all decision processes lead to a purchase. All
consumer decisions do not always include all 6 stages, determined by the degree of
complexity...discussed next.
Purchase--May differ from decision, time lapse between 4 & 5, product availability.
Personal risk
Social risk
Economic risk
Information from the companies MM; friends and relatives, store personnel etc. Go through all
six stages of the buying process.
The purchase of the same product does not always elicit the same Buying Behavior. Product
can shift from one category to the next. For example:
Going out for dinner for one person may be extensive decision making (for someone that
does not go out often at all), but limited decision making for someone else. The reason for the
dinner, whether it is an anniversary celebration, or a meal with a couple of friends will also
determine the extent of the decision making.
Personal
Unique to a particular person. Demographic Factors. Sex, Race, Age etc. Who in the
family is responsible for the decision making. Young people purchase things for different reasons
than older people.
Psychological factors
Psychological factors include:
Physiological
Safety
Love and Belonging
Esteem
Self Actualization
Need to determine what level of the hierarchy the consumers are at to determine what
motivates their purchases.
Inexperience buyers often use prices as an indicator of quality more than those who have
knowledge of a product.
Learning is the process through which a relatively permanent change in behavior results
from the consequences of past behavior.
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Attitudes-- Knowledge and positive and negative feelings about an object or activity
maybe tangible or intangible, living or non- living.....Drive perceptions Individual learns
attitudes through experience and interaction with other people. Consumer attitudes
toward a firm and its products greatly influence the success or failure of the firm's
marketing strategy.
Attitudes and attitude change are influenced by consumers personality and lifestyle.
Consumers screen information that conflicts with their attitudes. Distort information to
make it consistent and selectively retain information that reinforces our attitudes. IE
brand loyalty.
There is a difference between attitude and intention to buy (ability to buy).
Social Factors
Consumer wants, learning, motives etc. are influenced by opinion leaders, person's family,
reference groups, social class and culture.
Opinion leaders
Spokespeople etc. Marketers try to attract opinion leaders...they actually use (pay)
spokespeople to market their products. Michael Jordon (Nike, McDonalds, Gatorade etc.) Can be
risky...Michael Jackson...OJ Simpson...Chevy Chase
Reference Groups
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Individual identifies with the group to the extent that he takes on many of the values,
attitudes or behaviors of the group members.
Families, friends, sororities, civic and professional organizations. Any group that has a
positive or negative influence on a persons attitude and behavior.
Membership groups (belong to) Affinity marketing is focused on the desires of consumers
that belong to reference groups. Marketers get the groups to approve the product and
communicate that approval to its members. Credit Cards etc.!!
Aspiration groups (want to belong to) Disassociate groups (do not want to belong to)
Honda, tries to disassociate from the "biker" group. The degree to which a reference group will
affect a purchase decision depends on an individuals susceptibility to reference group influence
and the strength of his/ her involvement with the group.
Geographic regions
Human characteristics such as age and ethnic background.
Culture effects what people buy, how they buy and when they buy.
Understanding Consumer Buying Behavior offers consumers greater satisfaction (Utility).
We must assume that the company has adopted the Marketing Concept and are consumer
oriented.
TYPES OF CONSUMER PURCHASE DECISIONS
12
Consumers are faced with purchase decisions nearly every day. But not all decisions are
treated the same. Some decisions are more complex than others and thus require more effort by
the consumer. Other decisions are failry routine and require little effort. In general, consumers
face four types of purchase decisions:
Minor New Purchases these purchases represent something new to a consumer but in
the customers mind is not a very important purchase in terms of need, money or other
reason (e.g., status within a group).
Minor Re-Purchases these are the most routine of all purchases and often the
consumer returns to purchase the same product without giving much thought to other
product options (i.e., consumer is brand loyalty).
Major New Purchases these purchases are the most difficult of all purchases because
these are important to the consumer but the consumer has little or no previous experience
making the purchase AND is important. This type of decision often (but not always)
requires the consumer to engage in an extensive decision-making process.
Major Re-Purchase - these purchase decisions are also important to the customer but the
customer feels more confident in making the decision since they have experienced
purchasing the product in the past.
For marketers it is important to understand how consumers treat the purchase decisions
they face. If a company is targeting customers who feel a purchase decision is difficult (i.e.,
Major New Purchase), their marketing strategy may vary greatly from a company targeting
customers who view the purchase decision as routine. In fact, the same company may face
both situations at the same time; for some the product is new, while other customers see the
purchase as routine. The implication of buying behavior for marketers is that different buying
situations require different marketing efforts.
13
CHAPTER-II
14
INDUSTRY PROFILE
OVERVIEW OF AUTOMOBILE INDUSTRY
There are plenty of companies manufacturing automobile spares in India. For an
automobile owner getting original automobile spares for his/her vehicle is no more a problem.
Big names in automobile industry are taking care of after sales service in whichautomobile
spares occupy a considerable place.
The automobile business is evolving rapidly on a worldwide basis. Car and parts
manufacturers are merging, component design and manufacture are now frequently outsourced
instead of being created in-house, brands are changing and the giant automobile companies are
expanding deeper into providing financial services to car buyers. Meanwhile, all of the biggest,
most successful automobile industry firms have become totally global in nature. Globalization is
in evidence throughout the automobile industry.
On the car dealership side, giant, nationwide holding companies have acquired the best
dealers in major markets. Even the used car business is being taken over by national chains. Ecommerce is having profound effects on the car industry. Consumers use the
Internet to become better informed before making an automobile purchase. Online sites
like Autobytel steer millions of car buyers toward specific dealers while the same sitesdeliver
competing bids for cars, insurance and financing in a manner that lowers costs and improves
satisfaction among consumers.
Meanwhile, automobile manufacturers are using the latest in e-commerce methods to manage
their supply chains and replenish their inventories. This exciting new book (which includes a
database on CD-ROM) is a complete reference tool for everything you need to know about the
car, truck and specialty vehicles business, including:
1.
2.
3.
4.
5.
6.
7.
8.
India's automotive components industry is the most lucrative sector for foreign direct
investments. Hundreds of collaborations foreign direct investments have been made in
recent years and there is tremendous potential for more. Markets are huge and growing
both within India and overseas.
It presently incorporates a total investment of more than US$1.2 billion, which is
expected to rise to US$2.7 billion by the end of the year 2000.
The market is worth US$2.3 billion at present and this is expected to touch US$9.4
billion in 2001.
Automotive components manufactured in India are of top quality and used as original
components for vehicles made by such top international companies as General Motors,
Mercedes, IVECO and Daweoo among others.
Automotive products made in India have huge overseas markets in addition to the
dometsic market.
The number of vehicles manufactured in India is expected to rise from 3 million annually
to 5 million by 2000. This will increase domestic demand for automotive components.
Japanese and British component manufacturers are already operating joint ventures in
India. American companies, which have, or are planning to, set up plants in India include
Delphi (an automotive components division of General Motors USA), Delco Electronics,
Textron and Magna International of Canada.
17
COMPANY PROFILE
CORPORATE PROFILE: NK MINDA GROUP
NK MINDA Group is one of the leading global manufacturers of automobile components
and a leading supplier of proprietary automotive solutions to Original Equipment Manufacturers
(OEMs). For nearly five decades, N K Minda Group has been supplying the automotive industry
with innovative engineered products that are efficient, safe, responsive and enhance comfort
levels.
We are committed to developing customer relationships that last. Over the years we have
developed a tradition of listening to our customers, so we could tailor our offerings to their
current and future needs, thereby defining our groups excellence benchmarks.
N K Minda Group has 23 manufacturing plants in India, Indonesia and Vietnam, and
sales offices in Japan, Europe and China. We are continually looking to increase our global
footprint. At the same time, we are building on our core strengths in the existing markets. Over
the past fifty years, we have grown consistently and rapidly through a carefully controlled and
well managed expansion of our portfolio of products, and have thereby experienced consistent
growth.
The group employs nearly 6000 people and is headquartered in Manesar, Haryana, India.
We have engineering, research and development centers in Bangalore, Manesar, Pantnagar, Pune
& Sonepat.
We have joint ventures and technical agreements with world renowned manufacturers
such as Tokai Rika- Japan, Soft Italia- Italy, Kyoraku -Indonesia & Emer-Spa, Italy. We aim to
provide ground-breaking products which help our clients integrate high quality with cost
efficiency.
KEY FACTOR
Corporate Office:
Minda Industries Limited
Vill. Nawada Fatehpur,
P.O. Sikanderpur Badda, Manesar
Distt. Gurgaon
Haryana - 122004
Registered Office:
B-64/1, Wazirpur Industrial Area
Delhi 110052
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Chief Executive:
Mr. N K Minda - Chairman and Managing Director
PRODUCT RANGE
As a Tier-1 supplier, we manufacture:
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
Switch 2W/HBA
Sensors
Actuators
Controllers
Switch 4W / HVAC
Mirrors
Lighting
HLL Motors
Horns
CNG / LPG Kits
Batteries
Blow Molding Comp
Wheel Covers
Seat Belts
Seating & Systems
Cigar Lighter
19
Number of Employees:
6000 +
Performance:
The Group has been growing at a CAGR of 26% since 2005
LINEAGE
NK MINDA Group, after being founded in 1958, has grown into a multinational
corporation known for diversified automobile component products with US$ 297 million in net
sales in FY 2009-2010. We are rapidly expanding our ability to deliver technically superior auto
components to a broad spectrum of customers including Indian & Global OEMs. Our products
are reliable, safe, pioneering, efficient, and environmentally sustainable.
We have a tradition of being an innovative group. We concentrate heavily on product
research and development as a basis for inventive ideas. We work hard at anticipating and
meeting our customers changing requirements through continuous market research and
technology partnerships.
We aim to provide products which help our clients integrate high quality with cost
efficiency
Group Vision:
Group to make Global Benchmark in QPCDSM and become a pioneer in technology by 2014-15
Mission:
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Customer Is Supreme
Live Quality
We have a strong belief that our employees are the most valued assets of our company
They are essential participants with a shared responsibility in fulfilling our mission.
We inspire, empower and enable people to achieve high expectations, standards
and opportunity and every new challenge
We support mutually beneficial and enduring relationships with our stakeholders.
We treat all people with dignity and courtesy
GOVERNING BODY
The Minda Industries Board of Directors comprises of distinguished specialists from
diverse fields with one similarity - each has been an achiever in his own right and is as
committed to his own workplace as he is to society at large.
The board acts with complete sovereignty and provides tactical direction, looks at key
business priorities and provides leadership in significant business decisions. The Board also
discharges its fiduciary responsibilities, and ensures that the organization observes the highest
standards of ethics, transparency and disclosure. The Board reviews all statutory and regulatory
matters and has full access to all information related to the company.
The Minda Industries Board Comprises of:
Mr Nirmal K Minda
Mr. Nirmal K. Minda is an industrialist with rich business experience of Auto
Components Sector for more than 25 years. He is one of the Promoter & Chairman & Managing
Director of the company. He is responsible for overall management of the company including the
group marketing, finance and commercial activities. A strong team of professionals specialized in
the above area is assisting him. He is dynamic energetic and adventurous. His dynamic ideas in
the area of marketing are apparent from the growth of the company. He has global vision and has
plans to go global. Under his flagship Minda Industries has done various joint ventures including
joint venture agreement with Tokai Rica Co. Ltd., Japan for manufacturing of Automotive
Switches for four wheelers and Joint venture Agreement with TYC Brothers, Taiwan for
manufacturing of Automotive Lightings and relating Components.
Mr Surendra Kumar Arya
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More than 20 years experience in the field of automobile and engineering Industry. He was
appointed as Director of the company in 2003. He is a member of Shareholder Committee of
M/s. Jay Bharat Maruti Ltd. and Chairman and member of Shareholder Committee of M/s. JBM
Auto Ltd. He is also a member of Remuneration Committee of M/s. JBM Auto Ltd. In addition
to above, he is also a member of CII- Northern Regional Council, Chairman of SME SubCommittee of CII- Northern Region, Member of Executive Committee of ACMA and Chairman
of CII-Haryana State Council (2004- 05). Apart from the above, he also held different positions
in apex industry chambers in the past also. He has been awarded various awards for his immense
contribution to Automotive and Engineering Industry viz.
23
24
CORPORATE MILESTONES
MAL Capabilities
Logistic capability to serve the customers spanning across continents of North America,
Europe, Japan and Australia.
Highly motivated and committed team to ensure fast ramp up and response to the
customer.
Products Range
The company was incorporated in 2004 and is based in Gurgaon and Pantnagar, India. Minda
Acoustic Limited operates as a subsidiary of NK Minda Group. Minda Acoustic Limited
manufactures automotive horns for 2/3 wheeler, 4 wheeler including trumpet horns, electronic
beeper, air horns, and disc horns. The range of Minda Horns products are as follow:
K-95 (95mm dia Disc horn) - 12V ( High Tone & Low Tone)
K-90 (90mm dia Disc horn) - 12V ( High Tone & Low Tone)
D 82 (82mm dia Disc horn) - 12V ( High / Mid / Low Tone)
SD7 (70mm dia Disc horn) - 12V ( High /Mid / Low Tone)
D65 (65mm dia Disc horn) - 12V ( High /Mid / Low Tone) This product suits all 2
wheeler requirement as it is cost effective, consumes less current and is very durable,
since it has been specially developed for Indian Conditions
Electronic Beeper
4 Wheelers Horn
Minda Acoustics Limited prides itself on its development skills and capabilities. It has
developed horns right from fundamental horn design stage
HN9 ( 90mm dia Disc horn) - 12V / 24V ( High Tone & Low Tone)
Trumpet Horn - 12V / 24 V (High Tone & Low Tone)
K-95 (95mm dia Disc horn) - 12V / 24V ( High Tone & Low Tone)
K-90 (90mm dia Disc horn) - 12V / 24V ( High Tone & Low Tone)
D 82 (82mm dia Disc horn) - 12V ( High /Mid / Low Tone)
26
SD7 (70mm dia Disc horn) - 12V ( High /Mid / Low Tone)
Electronic Beeper
QUALITY CERTIFICATION:
27
The Minda Group has always been committed to developing products and manufacturing
processes that combine technological innovation with respect for the environment.
All Group companies are concerned about environmental impacts of its activities and products
and are therefore committed to:
Ensuring continual improvement in its environmental performance
Ensuring continual improvement in its environmental performance
Ensuring compliance with all applicable environmental legislation and regulations
Reducing air, water and soil pollution, waste generation and natural resources consumption
Generate environmental awareness among all employees.
A series of ENERGY CONSERVATION, water conservation and pollution control
ACTIVITIES UNDER ISO 14001 have been implemented.
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ENERGY CONSERVATION
In a step towards Energy Conservation, energy efficient tube lights (E+) have been
introduced in Assembly area. This has resulted in the saving of 22 w per existing tube lights
(4feet) and 32 w per 2 existing tube lights (2 feet).
These tube lights are guaranteed for a period of 2 years free replacement.
WATER CONSERVATION
Under Water Conservation program, the company has saved 600 KL of ground water
from Jan03 to June03. This much of the treated water was used from ETP output, which is as
par with the norms of Environmental Protection Rules 1986/schedule VI.
POLLUTION CONTROL
In a step towards abating various type of pollutions, some specific plantation were done
in the company.
29
CHAPTER-III
30
50%
b) Brand Image
c) Price
1
3
8%
25%
d) a & b both
17%
INTERPRETATION
Almost half (50%) of the total respondents say that they purchase auto parts only from
those companies which are recommended by their head office and (25%) respondents purchase
product for regionable price and (8%) belive in brand image and (17%) belive in both
recommended and brand image.
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Q.2 Do you agree that quality of outsource auto part is vital part for your products?
Strongly agree
59%
Occasionally
Disagree
4
1
33%
8%
INTERPRETATION
More than half (59%) of total respondents strongly agree that quality of outsource auto
part is vital for their products and (33%) prefer occasionally and only (8%) respondents disagree
with the quality as vital part for the product.
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Q3) what is the approx budget or expenses per year for purchasing auto spare accessories
in your company?
Up To 1 Cr.
40%
1 Cr. To 5Cr.
30%
5 Cr. To 10Cr.
18%
12%
INTERPRETATION
Majority (40%) of the total respondents have up to 1 Cr. budget to purchase auto spare
parts for their production and (30%) have 1 Cr. To 5 Cr. purchase budget and (18%) have 5 Cr.to
10 Cr. And (12%) have more than 10 Cr.
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16%
Cash
17%
Credit
67%
INTERPRETATION
More than half (67%) of the total respondents use to prefer credit system for their
vendors payment and (17%) prefer by cash and (16%) prefer to payment by in advance.
34
33%
Once in a Year
25%
As per requirement
42%
INTERPRETATION
Majority (42%) of the total respondents use to purchase auto parts for their production
either as per requirement and (33%) on monthly bases and (25%) respondent purchase once in
year.
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Q.6 How did you get to know about the product quality of Minda Product ?
Thru Representative
58%
Got Catalogues
17%
By internet or magazines
25%
INTERPRETATION
More than half (58%) of the total respondents get the product knowledge through
representative and (25%) respondent by internet or magazines and (17%) by catalogues.
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1
7
8%
59%
Good service
33%
INTERPRETATION
Maximum respondents (59%) say that cause behind to purchase Minda products is
quality only and (33%) respondent believe in good service and (8%) have lower price reason to
purchase the product.
37
Q8. What has been the reason for Non purchase of particular products of Minda?
No Requirement
67%
No Awareness
0%
Service problem
33%
INTERPRETATION
Maximum respondents (67%) say the reason for Non purchase of particular products of
Minda is only no need for them and (33%) feels service problem with product.
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Q.9. Do you feel that claims made by company during sale process regarding quality of
their products and service is generally true?
Yes
50%
No
In specific situation
1
5
8%
42%
INTERPRETATION
Maximum respondents (50%) say that claims made by company during sale process
regarding quality of their products and service are either true or about to true and (42%) feels
that it depend on a specific situation and (8%) say claims are not true.
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Q10. To what extent are you satisfied with quality and service of the Minda Product?
Completely Satisfied
50%
Not Satisfied
8%
Partially Satisfied
42%
INTERPRETATION
Maximum respondents (50%) completely satisfied quality and service of the Minda
Product and (42%) respondent feels partially satisfied with product and service and (8%)
respondent feels not satisfied with service and product.
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CHAPTER-IV
41
SUMMARY OF FINDINGS
It was observed that most of manufacturer use to purchase assembling parts only from
those vendors which are recommended by their head office. In fact the process of
purchasing is like that; in starting of financial year they signed a MOU with vendors for 1
or 3 year after words venders are entitle to supply particular products for the specific
time.
As per quality concern of purchase material mostly buyer follow a standard but some of
them feel its hardly matter for them as per quality concern.
As per amount concern majority buyers have no fix criteria to purchase assembling parts
they use to purchase parts as per their production volume. Only few have a fix limit and
their purchasing power is below 1 Cr.
At the time of purchasing mostly buyer look for quality and service of vendor and they
also appoint a quality manager to check the quality of vendors products.
Normally buyers paid the payment on credit bases it is because checking of vendors
quality and quantity take some time. The time interval of paying the money is almost
three month. And buyers prefer monthly transition of the invoice.
As per Minda most of buyer got the knowledge of its products through company
representative and buyers sell it because of its quality, services and claims made by
company during sale process regarding quality of their products and service is generally
true.
Minda has lots of market competitors so company can conduct a market research to
know their involvement for customer and it will help to differentiate it from its
competitors.
Customer gets more satisfaction with the service and product of the minda because it
gives good service and good quality of product. Minda also add some offer and scheme
with product which attract the customer.like; (discount and warranty )
With help of competitive analysis company can easily work on the mode that what
exactly youth generation wants who actually are the potential buyer to purchase the
product.
The major contrast of this report focused on that before taking any decision consumer
does the comparison analysis of various firms to look at the best possible product
Credit facility provided by the company will increase the need of the product of the
organization so that company can focus on quality of the product.
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RECOMMENDATIONS/SUGGESTION
Following are the recommendations/suggestion, which we are giving to companies as follows:
1. Company should look according to the global world. Now the Indian market is coming
with the new and modern technology, by which the better service can be provided to the
customer because the customer is the king.
2. The company should emphasis on the policies, to attract their customer and can increase
their sales.
3. The companies should emphasis on the product line with good quality and economic
price to serve to the majority of the segments.
4. Educate about their product to technical personnel and the person who deal with those
products where minda products are compulsory.
5. To give the knowledge for uses and handling to the ultimate customers, as this will
significantly increasing satisfaction.
6. The company should launch the attractive offers to influence the corporate customers
effectively to increase the sales.
7. The company should decide their selling prices according to the effectiveness of their
products and competitors prices of substitute products.
8. The companies should conduct market research to know the current position and analysis
the problem.
9. Offers like discount and warranty will also helpful to attract the new customer and and
they would like to use it once.
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CONCLUSION
Different studies depending upon customers characteristics may be used to emphasis
different aspect of customer satisfaction. Customer expectations and performance standards are
continuously changing, because the competition is also working to meet or exceed the customer
requirement.
Competing for the consumer is a never-ending challenge that MINDA continually faces.
This is due principally to the uniqueness and competitiveness of each individual market, for they
are all different and all require different approaches because of different consumer behaviors and
factors which affect this behavior.
From the study of filled questionnaire and discussion with the corporate regarding there
need, buying behavior and budgeting for particular products it was found that ultimate
consumers are demanding but not well informed about the products detail. Besides that the
recommendations by corporate, who has experienced the product, also have impact on their
buying preferences. So, company needs to focus on what is the unique, compelling benefit of the
product. Because the truth is that people buy products, not technologies, look for benefit, not a
feature. So, Instead of saying, "If I build it, they will come," the company should ask, "If I build
it, will they come?" and "why?"
44
BIBLIOGRAPHY
BOOKS:
Tapan Kumar Panda, Sunil Sahadev - Business & Economics - Sales and Distribution
Management- 2005
WEBSITE:
www.mindagroup.com/mindaacoustic.htm
www.mindagroup.com
wikimapia.org
www.udel.edu
www.knowthis.com
45
ANEXURE
QUESTIONNAIRE
Q1. At the time of purchase of auto parts you consider:
a) Recommended by head office only
( )
b) Brand Image
( )
c) Price
( )
d) a & b
( )
Q.2 Do you agree that quality of outsource auto part is vital part for your products
a) Strongly agree
( )
b) Occasionally
( )
c) Disagree
( )
Q3) what is the approx budget or expenses per year for purchasing auto spare accessories
in your company?
a) Up to 1 Cr.
( )
b) 1 Cr. To 5 Cr.
( )
c) 5 Cr. To 10 Cr.
( )
( )
46
( )
b) Cash
( )
c) Credit
( )
( )
b) As per requirement
( )
c) Once in a Year
( )
Q6. How did you get to know about the product quality of Minda Product?
a) Through Representative
( )
b) Got Catalogues
( )
c) By internet or magazines
( )
( )
b) Quality of products
( )
c) Good service
( )
Q8. What has been the reason for Non purchase of particular products of Minda?
a) No Requirement
( )
b) No Awareness
( )
47
c) Service problem
( )
Q9. Do you feel that claims made by company during sale process regarding quality of
their products and service is generally true?
a) Yes
( )
b) No
( )
c) In specific situation
( )
Q10. To what extent are you satisfied with quality and service of the Minda Product?
a) Completely Satisfied
( )
b) No Satisfied
( )
c) Partially Satisfied
( )
48