SYNOPSIS
PROJECT TITLE: A PROJECT REPORT
ON
MARKETING
STRATEGIES OF HERO MOTO CORP, Bangalore.
COMPANY NAME: HERO MOTO CORP.
INTRODUCTION: Indian automobile sector is in a growth phase. It all started mainly due to liberalization, privatization and globalization (LPG) of Indian economy. Today Indian Motor Bike manufacturers are able to manufacture Bikes that are able to meet global standards. This is a study to know about the MARKETING STRATEGIES OF HERO MOTO CORP. The aim of the project is to get the views of the Companies marketing strategies and effective influence by customer about its services, products and their expectations.
OVER VIEW OF THE INDUSTRY
The India Automobile Market is a promising industrial sector that is growing immensely every passing year. The passenger cars are referred to, through the use of the word "automobile." The whooping growth experienced by the Indian Automobile Market in the last financial year itself, which is the financial year end in February, 2007, was very close to an 18 percent over the previous fiscal. This statistical fact is a glittering example of the potential of the growing Automobile Industry in India. As per the survey conducted by the Society of Indian Automobile Manufacturers, the total number of automobiles manufactured by the Automobile Industry in India, throughout the financial year 2009-10, was very close to the 35.5 lakh (3.5 million) margin. The huge of number of automobiles manufactured by the Automobile Industry in India was an enormous growth upon the number of automobiles manufactured during the previous fiscal that ended in 20011. India Automobile Industry Following India's growing openness, the arrival of new and existing models, easy availability of finance at relatively low rate of interest and price discounts offered by the dealers and manufacturers all have stirred the demand for vehicles and a strong growth of the Indian automobile industry.
The data obtained from ministry of commerce and industry, shows high growth obtained since 2010- 11 in automobile production continuing in the first three quarters of the 2010-11. Annual growth was 16.0 per cent in April-December, 2011; the growth rate in 2010-11 was 15.1 per cent the automobile industry grew at a compound annual growth rate (CAGR) of 22 percent between 1992 and 1997.
Major Manufacturers in Automobile Industry
General Motors India Bajaj Auto Hero Motors Royal Enfield Motors TVS Motors
Hero Motocorp Ltd. formerly Hero Honda is Indian motorcycle and scooter manufacturer based in New Delhi, India. Hero Honda started in 1984 as a joint venture between Hero Cycles of India and Honda of Japan. The company is the largest two wheeler manufacturer in India. The 2006 Forbes 200 Most Respected companies list has Hero Honda Motors ranked at 108. In 2010, When Honda decided to move out of the joint venture, Hero Group bought the shares held by Honda. Subsequently, in August 2011 the company was renamed Hero MotoCorp with a new corporate identity. On 4th June 2012, Hero Motocorp approved a proposal to merge the investment arm of its parentHero Investment Pvt. Ltd. into the automaker. The decision comes after 18 months of its split from Honda Motor. Hero is the brand name used by the Munjal brothers for their flagship company Hero Cycles Ltd. A joint venture between the Hero Group and Honda Motor Company was established in 1984 as the Hero Honda Motors Limited at Dharuhera India. Munjal family and Honda group both own 26% stake in the Company. In 2010, it was reported that Honda planned to sell its stake in the venture to the Munjal family. The new brand identity and logo, Hero MotoCorp, was developed by the London firm Wolff Olins. The logo was revealed on 9 August 2011 in London, the day before the third match between England and India.
Hero MotoCorp can now export to Latin America, Africa and West Asia. Hero is free to use any vendors for its components instead of just Honda-approved vendors.
OBJECTIVES OF THE STUDY: To study the market strategies followed by Hero Moto Corp. To find out the promotional tools used by Hero Moto Corp. To study the impact of advertising by Hero Moto Corp. To provide useful information to the company about the product features of various competition companies. To study the features of different brands that gives a good idea of various products and services offered by the company. To study the brands of Hero Moto Corp & consumers perception about the product of hero Moto Corp. To find out the customers satisfaction level during the sales and after sales process. To find out the new product they expect from the company
RESEARCH METHODOLOGY: Research means finding facts for the purpose of finding out solution to the problem. The research is backed by the collection, presentation and interpretation of relevant data. Research Methodology is science of studying how the research is done. Research methodology acts as a guideline and leads to completion of successful research. The second stage of research falls for developing more efficient plan for gathering needed information, research design is in fact a plan,
a structure and a strategy of investigation, with is conceived so as to obtain answers to research questions and control variance. The research design for this project is by method of exploratory research.
It involves the study of the customers perception towards services and products of HERO MOTO CORP with the help of Sanjeevini Motors, Attibele, and a dealership which provides sales and services of HERO MOTO CORP products.
1. NATURE OF RESEARCH The research study under consideration is exploratory type. The reason for selecting this type of research is the underlying definition of exploratory research. Basically, there are two broad kinds of researches. Exploratory research: This seeks to discover new relationship. Conclusive research: It is design to help executive choose among various possible courses of action. And this study aims to collect and present the happening, reasons for these happenings, and other significant thing in the paints industry and their interrelationships with each other.
2. RESEARCH TECHNIQUES: Selection of proper sample size: o A sample design is a definite plan for obtaining a result from the given population. In this project the sample size is of 50. Sampling Criteria: o Simple random sampling is used. It is a procedure to collect the data from few elements from the entire population. It is a small specimen area that represents the entire population.
3. Tools Used:
Questionnaire: - A questionnaire consists of a set of questions presented to respondent for their answers. It can be Closed Ended or Open Ended Open Ended: - Allows respondents to answer in their own words & are difficult to Interpret and Tabulate. Close Ended: - Pre-specify all the possible answers & are easy to Interpret and Tabulate.
4. SOURCES OF DATA 1. PRIMARY DATA The data is collected by interviewing the respondents through questionnaire and the raw data collected will be transformed into a needed list of information. 2. SECONDARY DATA Secondary data consists of information that already exists. It would be collected from the website of HERO MOTO CORP. and other websites.
Data collection Method The basis of this project is the information collected through Secondary data. In order to get the view of those related in this market, some dealers and showrooms were informally visited.
NEED FOR THE STUDY The customers taste and preferences vary with the passage of time. The need for this study emerged because to find out the pulse of the customers in case of after sales and service in Sanjeevini Motors in the emerging trend.
This study further finds that whether customers expectations level matches with their satisfaction level, in case of after sales and service
OVERVIEW OF THE CHAPTER: Details to the theoretical back ground to project study. 1. Design of the study includes status of problem objectives and scope along with methodology. 2. Industry profile/respondent profile. 3. Study of problem through data analysis and interpretation along with charts and tables. 4. Gives summary of findings, recommendations and conclusions.
LIMITATIONS OF THE STUDY
The geographical area was very much limited to residential area & so the results are not particularly reflection of the current behaviour. The scope of the study has to be restricted to primary data, which were supplied by the respondents. There may be personal bias of the respondents which affects the result of the study. The sample size is Limited of 50 Respondents.
