TERM PAPER OF CONSUMER BEHAVIOUR

TOPIC: Post purchase satisfaction level of Hyundai products.

SUBMITTED TO: SUBMITTED BY:

Mr. Amit Dutt Abhimanyu Sharma Roll no: RT1903B71 REG NO: 10907840 SEC: RT190

INTRODUCTION

It is true fact that if you are satisfied you recommended to others. Word of mouth and customer satisfaction play a very important role in determining market perception about an automobile. It is the market perception that determines the success of a company and so it is very important for the car manufacturers to measure the “willingness of existing users of a product to recommend it to others”. The same is a lot of interest to customers as well for it helps them make the purchase decision. A car is one of the most significant purchases that an Indian household makes and this term paper addresses the most important question that perplexes car manufacturers:“What makes the perfect car that influence will willfully purchase?”

The Term Paper highlights the factors that influence the buying decision of a consumer.The factor under consideration would be:

• Price• Features in the car• Safety standard• Warranty scheme• Finance facility

Customer satisfaction measurement helps to promote an increased focus on customer outcomes and stimulate improvements in the work practices and processes used within the company.

Customer expectations are the customer-defined attributes of your product or service. We cannot create satisfaction just by meeting customer’s requirements fully because these have to be met in any case. However falling short is certain to create dissatisfaction. Major attributes of customer satisfaction can be summarized as:

• Product quality• Keeping delivery commitments• Price• Responsiveness and ability to resolve complaints and reject reports• Overall communication, accessibility and attitudes

We cannot begin to address the customer satisfaction issue we define the parameters and measures clearly.The customer satisfaction index represents the overall satisfaction level of that customer as one number, usually as a percentage

Values

Benefits

Features - Attributes

+ -

The buying process involves the following steps:

Problem

Recognition

Information search

Evaluation

Post Purchase Dissonance

Buy

Decision

Satisfaction = Brand Acceptance

Dissatisfaction = Brand Rejection

“Customer Satisfaction Survey for HYUNDAI”In this world of competition any organization cannot avoid Customers. It has become a necessity for an organization for its survival in any industry so that customer Satisfaction plays important role in each an every product life cycle. Today Companies are facing toughest competition ever. The intense competition makes the companies to take the necessary steps. To retain their existing customer as well as attract new once. In the environment of advancement of the technology the companies are trying hard to keep the pace with latest development. This survey will help the company to know the customers satisfaction level and feedback of customers at the product. It will also help company to know about the competitors. This will help company to know about wants and expectation of customers. The company can also know if there are any problems faced by the customers.

COMPANY PROFILE

Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC), South Korea and is the second largest car manufacturer and the largest passenger car exporter from India. HMIL presently markets 37 variants of passenger cars across segments. The Santro in the B segment, the Getz Prime, i10 and the Premium hatchback i20 in the B+ segment, the Accent and the Verna in the C segment, the Sonata Embera in the E segment and the Tucson in the SUV segment.

Hyundai Motor India Ltd, continuing with its tradition of being the fastest growing passenger car manufacturer, registered total sales of 489,328 vehicles in the calendar year (CY) 2008, an increase of 49.6 percent over CY 2007. In the domestic market it clocked a growth of 22.4 percent as compared to245, 387 units in 2007 while overseas sales grew by 92.5 percent, with exports accounting for 243,931 units in 2008.

Hyundai has different product as follow:1. Santro Xing:Santro is one most small family related comfortable car, which come under Economy segment. It is mostly sellable by the Hyundai Motors. It has been most good performance by the buyers. And also good result of it.

2. Hyundai i10:

3. I 20:

4: Accent

5. Verna:

Sr. No. Features1. Types LxLxi2. Petrol Or Diesel Petrol3. Seating capacity 54. Launch in India 2006

INDUSTRY PROFILEIndustry ProfileIndia's love affair with the automobile is famously embodied in the 1920's Rolls Royce collections of the erstwhile maharajas. The growing middle class aspires for the automobile for its convenience and as a status symbol. Upper middle class and wealthy car owners employ full-time chauffeurs to navigate the aggressive and seemingly lawless traffic patterns of most cities. The construction of expressways such as the Mumbai-Pune expressway has opened up new touring opportunities. The expected launch of a Formula One circuit in New Delhi is expected to spark public enthusiasm for a motor sporting industry.The automobile industry has changed the

way people live and work. The earliest of modern cars was manufactured in the year 1895. Shortly the first appearance of the car followed in India. As the century turned, three cars were imported in Mumbai (India).Within decade there were total of 1025 cars in the city.While automobiles were introduced to India in the late 1890's, the manufacturing industry only took off after independence in 1947. The protectionist economic policies of the government gave rise in the 1950’s to the Hindustan Motors Ambassador, based on a 1950’s Morris Oxford, and, are still ubiquitous in the roads and highways of India. Hindustan Motors and a few smaller manufacturers such as Premier Automobiles, Tata Motors, Bajaj Auto, Ashok Leyland and Standard Motors held an oligopoly until India's initial economic opening in the 1980's. The maverick Indian politician Sanjay Gandhi championed the need for a "people's car"; the project was realized after his death with the launch of a state-owned firm Maruti Udyog Ltd.(Maruti Suzuki India Ltd.) which quickly gained over 50% market share. The Maruti 800 became popular because of its low price, high fuel efficiency, reliability and modern features relative to its competition at the time. Tata Motors exported buses and trucks to niche markets in the developing world.The liberalization policy of Indian government in 1991 opened the flood gates of competition and growth which have continued up to today. The high growth in the Indian economy has resulted in all major international car manufacturers entering the Indian market. General Motors, Ford, Toyota, Honda, Hyundai and others set up manufacturing plants. Rolls Royce, Bentley and May Bach are examples of the few high end automobile manufacturers which entered India in the recent years. The Tata Nano is at the lower end of the price range costing approx US$ 2,500 and Bugatti Veyron at the other with a price tag of over US$ 2 million.The automobile industry in India is the eleventh largest in the world with an annual production of approximately 2 million units. India is expected to overtake China as the world's fastest growing car market in terms of the number of units sold and the automotive industry is one of the fastest growing manufacturing sectors in India. Because of its large market (India has a population of 1.1 billion; the second largest in the world), a low base of Car ownership (25 per 1,000 people) and a surging economy, India has become a huge attraction for car manufacturers around the world. Though several major foreign automakers, like Ford, GM and Honda, have their manufacturing bases in India, Indian automobile market is dominated by domestic companies. Maruti Suzuki is the largest passenger vehicle company; Tata Motors is the largest commercial vehicle company while Hero Honda is the largest motorcycle company in India. Other major Indian automobile manufacturers include Mahindra & Mahindra, Ashok Leyland and Bajaj Auto Ltd. The automotive industry directly and indirectly employs 13 million individuals in India. The industry is valued at about US$ 35 billion contributing about 3.1% of India's GDP (nominal). India's cost-competitive auto components industry is the second largest in the world.

List of automobile manufacturers in IndiaIndian companies Multi-national companies

• Force Motors Audi• Ashok Leyland BMW• Hindustan Motors Fiat• Mahindra & Mahindra Limited Ford Motors• Hyundai Motors ltd• Maruti Suzuki General Motors• Premier Automobiles Honda

• REVA Hyundai• Tata Motors 8 Renault-Nissan Mercedes-Benz• Mitsubishi Motors• Skoda• Toyota

OBJECTIVE & SCOPE

ObjectivePrimary objective:-1. Conduct customer satisfaction survey for HYUNDAI.2. To find out customer expectation from HYUNDAI.3. To study the factors those satisfy and delight the customer.Secondary objective:-1. To find out problem faced by customers.2. To understand the customers requirement from the HYUNDAI.3. To know customer opinion about HYUNDAI’s vehicles.

SCOPE OF WORKThe customer is always right. This is incontrovertible. Customer belongs at the heart of every business because without them there is no business. Without their money, there is no exchange. Therefore, for any company, the customer is the starting point that influences very move. Marketing is based on this logic. It is process by which a company finds out what its customers want and need, and then delivery it in a way that that makes as much profit as possible. Because marketing focuses on customers, the heart of every business and sources of all income, it follows logically that marketing as a mere function of business to be performed intermittently. By focusing on different customers, a marketing orientation gives a company an edge over those who focus more on different products, selling and the production. Marketing opportunity arise when customer wants and need arise. There is no point in trying to sell something for which there is no demand. The production process must be informed by customer demand. Customer will not often buy just because it is exist.Customers are satisfied when offered what are needs. In practice, they are not all that easy to please. Marketing is also about predicting what customer will want and need in the future. It is native have to think that customers needs and want remainconstant, adopting the customer-centered approach to a business will involve change. As psychiatrists have noted, change is always stressful but often necessary. Wants and needs change along with markets, product, and cultures. The SLEPT FACTOR (social, legal, economical, political, and technological) can affect the behavior of customers, the market they form, and the ways in which a company can respond. To stay ahead of competition, a change in outlook mustoccur. Innovation should be encouraged. Marketing has been conceptualized and accepted as an activity directed at satisfying need and wants through exchange process. The “Marketing Concept” is essentially the satisfaction of the customer needs through integrated marketing

with the intend to satisfy the customers while earning the profit. The basic idea is that a satisfied customer will likely to repurchase, leading to increase sales and share for the firm. Integrated marketing activities amied at producing customer satisfaction include what have been referred to as 4 P’s of marketing, namely product, promotion, price & place. Generally marketing is conceder as the Primary functional area in the firm that works to satisfy the firms customers. It istrue that customer satisfaction is the result of total marketing efforts, industry has generally failed to recognized the importance of customer as provided by physical distribution to the customer satisfaction and has not effectively integrated customer service with the other component of marketing mix.

Customer’s expectations:

individual or organization that has value. Customer’s expectations are continuously increasing. Brand loyalty is a thing of past. Customer seek out products and producers that are best able to satisfy there requirements. A product does not need to be rated highest by the customer on all dimensions, only those they think are important. Customer is defined as anyone who receives that which is produced by the

Customer perceived value:

Customer perceived value is difference between the prospective customer’s evaluation of all the cost of an offering and the perceived alternatives. Total customer value is perceived monetary value of the bundle of economics, functional and psychological benefits customer expect from the given marketing offering.Delivering high customer value the key to generating high customerloyalty is to deliver high customer value. According to Michel Lanning, a company must design a competitively superior value deliver system.

Customer satisfaction:Satisfaction is the person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived in relation to his or her expectations. In general, if performance of the products matches the expectations,the customer is said to be satisfied. Customer satisfaction, a business term, is a measure of how products and services supplied by a company meet or surpasscustomer expectations. In a competitive marketplace where business complete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy. If performance exceeds expectations, the customer is said to be highly satisfied or delighted. If the performance falls short of expectations, the customer is said to be dissatisfied.

Measuring customer satisfaction:Organizations are increasingly interesting 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 can also vary depending on other options the customer may have and other products against which the customer can compare the organization’s products.

Importance to measure customer satisfaction:While is it is critical to be in sync with the overall business objectives of the organization, it is also critical to be in tune with information requirements of users, and the value they find in services provided by the info center. In order to be perceived as integral assets to their organizations, most information professionals are concerned with expanding their activities, and serving more customers better. Building on a loyal customer or user base is the best and easiestway to grow your business. Just as companies find it costs approximately five times more to acquire new customers than it costs to keep a customer, Info Centers will find it most cost effective to grow by building on the services now provided to loyal, committed customers. To continue earning that customer loyalty, information professionals must keep tabs on the satisfaction levels and perceptions of value held by Info Center users. Strategies to develop the new business should always be balanced by strategies to retain existing business and ensure ongoing satisfaction of existing customers. There is an also real bottomline reason for measuring customer satisfaction. Positive results from customer satisfactions studies will make a strong statement in support of continued funding for Info Center activities.

Tools for measuring Customer Satisfaction:

Complaint and Suggestion Systems:A customer-centered organization makes it easy for customers to register suggestions and complaints. Companies also using web sites and e-mail for quick, two-way communication.Customer Satisfaction Survey:Responsive companies measure customer satisfaction directly by conducting periodic surveys.Ghost Shopping:Companies can hire people to pose as potential buyers to report on strong and weak points experienced in buying the company’s and competitor’s products.These shoppers can even test the company’s sales personnel handle various situations.Lost Customer Analysis:Companies should contact customers who have stopped buying or who have switched to another supplier to learn why this happened.Focus Groups:Focus groups can be held on an informal or formal basis. On an informal basis, consider having a group of users meet for coffee or lunch to discuss their satisfaction with services being evaluated. On a more formal basis, a facilitator with experience in leading focus groups can work with personnel to plan questions and activities to elicit perception of value and satisfaction fromparticipants.Customer Satisfaction Survey:Study show that although customers are dissatisfied with one out of every four purchases, less than five percent of dissatisfied customers will complain.Most customers will buy less or switch to other supplier. Complaint levels are thus not good measure of customer satisfactions responsive companies measure customers Satisfaction directly by conducting periodic survey. They send questionnaire or make telephonic calls to a random sample of recent customers. They

also solicit buyer’s views on there competitor performance.While collecting customer satisfaction data, it is also useful to askedadditional questions to measure re purchase intention; this will normally be high if his customer satisfaction is high. It is also useful to measure likely hood or willingness to recommend the company and brand to others. A high positive word-of-mouth score indicates that the company is producing high customer satisfaction.Customer satisfaction helps company in knowing the wants, needs and expectation of customers. It also helps to collect feedback about products. Thiswill assist company in new product development.

REVIEW OF LITERATURE

Marsha Peter (2OO2) examines temporal changes in post-purchase product satisfaction for a durable goods purchase. Involvement and satisfaction variables were measured in a cross-sectional and a longitudinal study of car owners. Overall, consumers with high product involvement showed slightly greater satisfaction with their cars than low-involvement consumers over the term of ownership. However, in the 2-month period after purchase, consumers with high product involvement showed a decline in satisfaction, whereas low-involvement consumers' satisfaction increased. The role of disconfirmation in these changes was investigated. Benefits and problems disconfirmation were found to make independent contributions to satisfaction judgments, and the strength and form of contribution varied with product involvement. These findings suggest that benefits and problems disconfirmation need to be measured separately in satisfaction research.

Yooshik Yoon(2004) studied the effects of motivation and satisfaction on destination loyalty: a structural model and investigates the relevant relationships among the constructs by using a structural equation modeling approach. Consequently, destination managers should establish a higher satisfaction level to create positive post-purchase behavior, in order to improve and sustain destination competitiveness.

Diane Halstead(1993) studied the Focuses on a group of unsatisfied car owners. Examines the roles of the car warranty and the post-purchase service received during the complaint process in terms of their effects on customers' satisfaction with complaint resolution. Presents some suggestions for customer service policies, complaint handling procedures, and warranty fulfillment service.

James Y.L. Thong(2006) studied the effects of post-adoption beliefs on the expectation-confirmation model for information technology continuance .The expectation-confirmation model (ECM) of IT continuance is a model for investigating continued information technology (IT) usage behavior. This paper reports on a study that attempts to expand the set of post-adoption beliefs in the ECM, in order to extend the application of the ECM beyond an instrumental focus. The expanded ECM, incorporating the post-adoption beliefs of perceived usefulness, perceived enjoyment and perceived

ease of use, was empirically validated with data collected from an on-line survey of 811 existing users of mobile Internet services. The data analysis showed that the expanded ECM has good explanatory power (R2=57.6% of continued IT usage intention and R2=67.8% of satisfaction), with all paths supported. Hence, the expanded ECM can provide supplementary information that is relevant for understanding continued IT usage. The significant effects of post-adoption perceived ease of use and perceived enjoyment signify that the nature of the IT can be an important boundary condition in understanding the continued IT usage behavior. At a practical level, the expanded ECM presents IT product/service providers with deeper insights into how to address IT users’ satisfaction and continued patronage.

Marsha L. Richins(2002) Post-purchase product satisfaction: Incorporating the effects of involvement and time describes changes in post-purchase product satisfaction for a durable goods purchase. Involvement and satisfaction variables were measured in a cross-sectional and a longitudinal study of car owners. Overall, consumers with high product involvement showed slightly greater satisfaction with their cars than low-involvement consumers over the term of ownership. However, in the 2-month period after purchase, consumers with high product involvement showed a decline in satisfaction, whereas low-involvement consumers' satisfaction increased. The role of disconfirmation in these changes was investigated. Benefits and problems disconfirmation were found to make independent contributions to satisfaction judgments, and the strength and form of contribution varied with product involvement. These findings suggest that benefits and problems disconfirmation need to be measured separately in satisfaction research Claes Fornell(1992) examines that Many individual companies and some industries monitor customer satisfaction on a continual basis, but Sweden is the first country to do so on a national level. The annual Customer Satisfaction Barometer (CSB) measures customer satisfaction in more than 30 industries and for more than 100 corporations. The new index is intended to be complementary to productivity measures. Whereas productivity basically reflects quantity of output, CSB measures quality of output (as experienced by the buyer). The author reports the results of a large-scale Swedish effort to measure quality of the total consumption process as customer satisfaction. The significance of customer satisfaction and its place within the overall strategy of the firm are discussed. An implication from examining the relationship between market share and customer satisfaction by a location model is that satisfaction should be lower in industries where supply is homogeneous and demand heterogeneous. Satisfaction should be higher when the heterogeneity/homogeneity of demand is matched by the supply. Empirical support is found for that proposition in monopolies as well as in competitive market structures. Likewise, industries in general are found to have a high level of customer satisfaction if they are highly dependent on satisfaction for repeat business. The opposite is found for industries in which companies have more captive markets. For Sweden, the 1991 results show a slight increase in CSB, which should have a positive effect on the general economic climate.

Richard Oliver (2000) Response determinants in satisfaction judgement, examines that The effects of five determinants of satisfaction are tested as well as individual differences in satisfaction formation. Manipulations of attribution, expectancy, performance, disconfirmation, and equity are written into stock market trading scenarios in a full factorial design. Results show that all main effects and four ordinal two-way interactions are significant. Then, an individual-level analysis is performed on the repeated measures data. Three clusters of subjects sharing

similar response tendencies (disconfirmation, performance, and equity) are identified and related to investment attitudes, outcome attitudes, and demographics. No consistent relationships are discovered, suggesting that the response differences reflect deeper behavioral tendencies. Implications of this approach for satisfaction paradigms, satisfaction theory, and individual satisfaction response orientations are presented.

RESEARCHMETHODOLOGY

RESEARCH METHODOLOGYDefinition:Research methodology is a process to systematically solve the research problem. It maybe understood as a science of studying how research is done scientifically. Why a research study has been undertaken, how the research problem has been defined. In what way and why the hypothesis has been formulated, what data have been collected and particular method has been adopted. Why particular technique of analyzing data has been used and a host of similar other questions are usually answered when we talk of research methodology concerning a research problem or study.A research design serves as a bridge between what has been established (the research objectives) and what is to be done, in the conduct of the study. In this project researchdone is of conclusive nature. Conclusive research provides information that help in making a rational decision. Descriptive design was choose to measure the satisfaction level of customers on the basis of different parameters such as quality, price, features, technology, after sale services etc.This design ensured complete clarity and accuracy. It also ensured minimum bias incollection of data and reduced the errors in data interpretation. Statistical method was followed in this research because the data was of descriptive nature and it also enabled accurate generalizations.

Introduction:

The objective of this term paper is to conduct the Customer Satisfaction Survey for Hyundai and recording, analyzing and interpreting the wants and expectations of customers. For the company, it is essential to know whether customers are satisfied or not with the Hyundai and services provided by company.Statements of the problem:The purpose of conducting this research is to get the actual idea about the experiences of customers and their satisfaction level with Hyundai. What types of problem they face after purchasing the vehicles. The purpose of conducting this research is also to find out expectations of customers for Hyundai. Users were selected and then the analysis was formed regarding the people’s beliefs, satisfaction and expectations about the Hyundai.

SOURCES OF DATA

Primary data:Primary data are those which are collected a fresh and for the first time and thus happento be original in character. It was collected through questionnaire and personal interviews.

Secondary data:The secondary data are those which have already been collected by someone else andWhich have already been through the statistical process. The data were collected in theform of company profile and produce profile from the web sites and news paper. Some ofthe books were referred for theoretical concepts.

DATA COLLECTION & DATA ANALYSIS

FACTOR ANALYSIS

Correlation Matrix

Which

model

of

Hyunda

i are

you

using

How

many

years

you are

using

this

model

Prefere

nce for

choosin

g

particul

ar car

Are

you

satisfi

ed

with

your

car

Are you

satisfied

with free

accessor

ies

provided

Do you

prefer

Hyunda

i-

Insuran

ce

What is

your Post-

sales

experienc

e after

purchase

Did you

receive

any

informat

ion

about

“service

due”

Do you

find easy

availabilit

y of

spare

parts

Would

you like

to

recomm

end the

Hyundai

car to

otherrs

In

which

sector

do you

feel

Hyunda

i should

improve

?

Would

you like

to re

purchas

e the

Hyundai

’s car?

C

or

re

la

ti

o

n

Which model of

Hyundai are you

using?

1.000 -.047 -.158 -.089 .091 .255 -.189 .306 .209 -.204 .195 -.065

How many years

you are using ?-.047 1.000 .117 .003 -.051 -.029 .161 -.191 -.061 .096 -.085 -.077

Preference for

choosing particular

car?

-.158 .117 1.000 .145 .109 .127 .198 -.094 .102 -.086 .034 -.229

Are you satisfied

with your car?-.089 .003 .145 1.000 -.164 -.027 .165 .144 -.113 -.030 -.213 .092

Are you satisfied

with the free

accessories?

.091 -.051 .109 -.164 1.000 .031 .198 -.141 .107 .107 .270 .061

Do you prefer

Hyundai-

Insurance?

.255 -.029 .127 -.027 .031 1.000 -.050 -.011 .200 .021 .203 -.007

What is your Post-

sales experience? -.189 .161 .198 .165 .198 -.050 1.000 -.091 .058 -.099 .100 -.026

Did you receive

any information

about “service

due”?

.306 -.191 -.094 .144 -.141 -.011 -.091 1.000 .021 -.247 .049 .346

Do you find easy

availability of spare

parts?

.209 -.061 .102 -.113 .107 .200 .058 .021 1.000 .045 .054 -.158

Would you like to

recommend the

Hyundai car to

others?

-.204 .096 -.086 -.030 .107 .021 -.099 -.247 .045 1.000 .104 .014

In which sector

you think Hyundai

should improve?

.195 -.085 .034 -.213 .270 .203 .100 .049 .054 .104 1.000 .204

Would you like to

re purchase the

Hyundai’s car?

-.065 -.077 -.229 .092 .061 -.007 -.026 .346 -.158 .014 .204 1.000

Communalities

Initial Extraction

Which model of Hyundai are

you using1.000 .640

How many years you are

using this model1.000 .231

Preference for choosing

particular car1.000 .576

Are you satisfied with your

car1.000 .683

Are you satisfied with the

free accessories provided by

the company

1.000 .627

Do you prefer Hyundai-

Insurance over any other

insurance option

1.000 .686

What is your Post-sales

experience after purchasing

the car

1.000 .666

Did you receive any

intimation through calls or

letters for the “service due”

date to get your vehicle

serviced

1.000 .696

Do you find easy availability

of spare parts1.000 .424

Would you like to

recommend the Hyundai car

to your friends/relatives?

1.000 .744

In which sector do you

think/feel Hyundai should

improve?

1.000 .636

Would you like to re

purchase the Hyundai’s car?1.000 .754

Extraction Method: Principal Component Analysis.

Total Variance Explained

Compo

nent

Initial Eigenvalues Extraction Sums of Squared Loadings

Total % of Variance Cumulative % Total % of Variance Cumulative %

1 1.848 15.403 15.403 1.848 15.403 15.403

2 1.727 14.388 29.791 1.727 14.388 29.791

3 1.403 11.693 41.484 1.403 11.693 41.484

4 1.359 11.328 52.813 1.359 11.328 52.813

5 1.026 8.547 61.360 1.026 8.547 61.360

6 .960 8.004 69.364

7 .862 7.185 76.549

8 .729 6.076 82.625

9 .703 5.861 88.486

10 .629 5.244 93.730

11 .457 3.810 97.540

12 .295 2.460 100.000

Extraction Method: Principal Component Analysis.

Component Matrixa

Component

1 2 3 4 5

Which model of Hyundai are

you using.691 .171 .277 -.229 -.061

How many years you are

using this model-.424 .123 .045 -.005 .184

Preference for choosing

particular car-.347 .354 .521 .217 .111

Are you satisfied with your

car-.207 -.393 .413 .360 .430

Are you satisfied with the

free accessories provided by

the company

.085 .587 -.217 .371 -.302

Do you prefer Hyundai-

Insurance over any other

insurance option

.335 .425 .250 -.092 .568

What is your Post-sales

experience after purchasing

the car

-.342 .257 .262 .610 -.204

Did you receive any

intimation through calls or

letters for the “service due”

date to get your vehicle

serviced

.615 -.424 .266 .258 .023

Do you find easy availability

of spare parts.213 .482 .309 -.219 .054

Would you like to

recommend the Hyundai car

to your friends/relatives?

-.223 .244 -.588 -.086 .531

In which sector do you

think/feel Hyundai should

improve?

.419 .488 -.260 .389 .059

Would you like to re

purchase the Hyundai’s car?.379 -.318 -.353 .581 .216

Extraction Method: Principal Component Analysis.

a. 5 components extracted.

CONCLUSIONIt has been observed that most customers are satisfied with pre sales servicessimilarly most of these customers are dissatisfied with the post sales service which is thematter of concern for the company. Hyundai needs to improve some parts ofproducts specifically the interiors. High customer satisfaction level helps the company toretain its existing customer as well as generate new customer through word to mouthpublicity.Customer satisfaction index is a good tool to make improvements in the productsand services of the company. And therefore should utilize carefully & kept asConfidential as possible.

SUGGESTIONAfter conducting the survey and knowing the market, I realized that:

• The company should keep in mind the need of young generation.• Company should improve the promotion strategy of product.• Company should improve the promotion strategy of Add-on services.• It will be beneficial for the company to make the warehouse near to the

Showroom and there should be roof facility, adequate security facility in theWarehouse.

• The Company should know its customers satisfaction level throughout doingperiodic surveys. Periodic surveys can treat customer satisfaction directly.

• Company should improve/upgrades its employee’s product knowledge,market situation, and its competitor’s knowledge by giving proper training toemployee.

• Company should upgrade or innovate its new product.• The Company should not only concentrate on the customer satisfaction but

also the company led to monitor their competitor’s performance in their areasof operations.

• The Company should make changes according to the other competitors &according to the customer’s expectations.

LIMITATIONS

LIMITATIONS OF STUDY:Though the research was conducted properly, the probability of errors & biases kept is minimum; still some errors occurred because of certain limitation.

These are as follows:-

a) A very short span of time for research.

b) This is time-consuming research method & the respondents did not have sufficient time for giving information for such type of research.c) People were reluctant to give responses for such type of research.d) People also did not give proper response for Questionnaire & interview, because of short time.I have honestly and sincerely tried to present the facts and figures but some error still might have cropped up.

FINDINGSIt is observed that1. The prospective segment is from the business and self employed class.2. Hyundai should continue to maintain the standard of the service.3. It is observed that, 42% of the respondent are of opinion that vehicles are as per expectation, and 20% are saying its below expectation.4. Company should improve its post sales service.5. The customer highest priority is for the mileage.6. Hyundai needs to improve its awareness about Add-on-Services.7. Customer are highly satisfied with the service which help in customer retention8. It is observed that, 46% of the customers are of opinion that Hyundai should improve in quality, and 16% of the opinion that Hyundai should improve in price.9. Customers are highly satisfied which help in customer retention.10. Company has created goodwill among the customers which will help them to recommend car to friends and relatives.

BIBLIOGRAPHY

1. Marketing Management by Philip Kotler, the millennium edition2. Research Methodology-C.R. Kothari.2ndedition3. Website visited –www.hyundai.comwww.automotive.comwww.gaddi.com4. Newspaper-business standards, Dainak Gajran, Times of India, etc.

QUESTIONNAIRE

NAME………………………….ADDRESS…………………………CONTACT NO…………………………..

1. Which Model of Hyundai are you using?

Car:-……………………………

2. How many years you are using this model?

a) 0-2 years b) 2-3 yearsc) 3-4 years d) 4-5 years

3. Preference for choosing particular car?

a) Comfort b) Mileagec) Feature d) Performancee) Looks f) Priceg) Others Please specify:-………

4. Are you satisfied with your car?

a) Yesb) NoIf No, give the reasons for the same

a) Comfort b) Mileagec) Feature d) Performancee) Looks f) Price

5. Are you satisfied with the free accessories provided by the company?

a) Yesb) No

6. Do you prefer Hyundai-Insurance over any other insurance option?

a) Yes b) NoIf No, then why:-……………….

7. What is your Post-sales experience after purchasing the car?

a) Excellent b) Goodc) Average d) Below Average

8. Did you receive any intimation through calls or letters for the “service due” date to get your

vehicle serviced?

a) Yesb) No

9. Do you find easy availability of spare parts?

a) Yesb) No

10. Are you satisfied with the overall service of Hyundai?

a) Excellent b) Goodc) Average d) Below Average

11. Would you like to recommend the Hyundai car to your friends/relatives?

a) Yesb) No

12. In which sector do you think/feel Hyundai should improve?

a) Price b) Qualityc) Service d) Others

13. Would you like to re purchase the Hyundai’s car?

a) Yesb) No