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RESEARCH REPORT
ON
SUBMITTED TO:
DEPARTMENT OF BUSINESS ADMINISTRATION
RAKSHPAL BAHADUR MANAGEMENT INSTITUTE,
BAREILLY (U.P.)
DECLERATION
The information provided in the report is original and has not been copied
from anywhere.
This report is not submitted to any other university/institute for the award of
any other degree/diploma.
Mere acknowledgement may not redeem the debt I owe to my parents for their
direct/indirect support during the entire course of this project.
1. HISTORY OF BAJAJ
Profile
Key Person
Bajaj Introduction
Company History
Board Of Directors
Company Profile
3. HISTORY OF TVS
4. OBJECTIVES OF THE RESEARCH
5. RESEARCH METHODOLOGY
Data Source
Research Approach
Sampling Unit
Data Completion And Analysis
Scope
8. FINDINGS
9. CONCLUSION
10. RECOMMENDATION
11. BIBLIOGRAPHY
12.QUETIONNAIRE
Bajaj Auto limited is one of the largest two wheeler manufacturing company
in India apart from producing two wheelers they also manufacture three wheelers. The
company had started way back in 1945. Initially it used to import the two wheelers
from outside, but from 1959 it started manufacturing of two wheelers in the country.
By the year 1970 Bajaj Auto had rolled out their 100,000th vehicle. Bajaj scooters and
motor cycles have become an integral part of the Indian milieu and over the years
have come to represent the aspirations of modern India. Bajaj Auto also has a
technical tie up with Kawasaki heavy industries of Japan to produce the latest
motorcycles in India which are of world class quality The Bajaj Kawasaki eliminator
has emerged straight out of the drawing board of Kawasaki heavy industries. The core
brand values of Bajaj Auto limited includes Learning, Innovation, Perfection, Speed
and Transparency.
Bajaj Auto has three manufacturing units in the country at Akurdi, Waluj and
Chakan in Maharashtra, western India, which produced 2,314,787 vehicles in 2005-
06. The sales are backed by a network of after sales service and maintenance work
shops all over the country.
Bajaj Auto has products which cater to every segment of the Indian two
wheeler market Bajaj CT 100 Dlx offers a great value for money at the entry level.
Similarly Bajaj Discover 125 offers the consumer a great performance without
making a big hole in the pocket.
PROFILE:
Founder Jamnalal Bajaj
Listings & its codes BSE – Code: 500490; NSE - Code: BAJAJAUTO
Website www.bajajauto.com
KEY PERSONS:
Board of Directors
P Murari Director
Audit Committee
J.N. Godrej
Naresh Chandra
Nanoo Pamnani
Shareholders’ & Investors’ Grievance committee
J.N. Godrej
Naresh Chandra
S. H. Khan
Remuneration committee
S.H. Khan
Naresh Chandra
Type Public
Founded 1945
Employees ???
Website www.bajajauto.com
Bajaj Auto is a major Indian automobile manufacturer. It is India's largest and the
world's 4th largest two- and three-wheeler maker. It is based in Pune, Maharashtra,
with plants in Waluj near Aurangabad, Akurdi and Chakan, near Pune. Bajaj Auto
makes motorscooters, motorcycles and the auto rickshaw.
COMPANY'S HISTORY
Bajaj Auto came into existence on November 29, 1945 as M/s Bachraj Trading
Corporation Private Limited. It started off by selling imported two- and three-
wheelers in India. In 1959, it obtained license from the Government of India to
manufacture two- and three-wheelers and it went public in 1960. In 1970, it rolled out
its 100,000th vehicle. In 1977, it managed to produce and sell 100,000 vehicles in a
single financial year. In 1985, it started producing at Waluj in Aurangabad. In 1986, it
managed to produce and sell 500,000 vehicles in a single financial year. In 1995, it
rolled out its ten millionth vehicle and produced and sold 1 million vehicles in a year.
Scooters
Bajaj Sunny
Bajaj Chetak
Bajaj Cub
Bajaj Super
Bajaj Wave
Bajaj Legend
Motorcycles
Kawasaki Eliminator
Bajaj Pulsar
Bajaj Kawasaki Wind 125
Bajaj Boxer
Bajaj CT 100
Bajaj Platina
Bajaj Caliber
Bajaj Discover
Bajaj Avenger
Bajaj Pulsar 220 DTS-Fi
Upcoming Models
Bajaj Krystal
Bajaj Blade
Bajaj Sonic
Bajaj XCD String
New Image
The company, over the last decade has successfully changed its image from a scooter
manufacturer to a two wheeler manufacturer, product range ranging from Scooterettes
to Scooters to Motorcycle. Its real growth in numbers has come in the last 4 years
after successful introduction of a few models in the motorcycle segment.The company
The license raj that existed between the1940s to1980s in India, did not allow foreign
companies to enter the market and imports were tightly controlled. This regulatory
maze, before the economic liberalization, made business easier for local players to
have a seller’s market. Customers in India were forced to wait 12 years to buy a
scooter from Bajaj. The CEO of Bajaj commented that he did not need a marketing
department, only a dispatch department. By the year 1990, Bajaj had a waiting list
that was twenty-six times its annual output for scooters.
The motorcycle segment had the same long wait times with three manufacturers;
Royal Enfield, Ideal Jawa, and Escorts. Royal Enfield made a 350cc Bullet with the
only four-stroke engine at that time and took the higher end of the market but, there
was little competition for their customers. Ideal Jawa and Escorts took the middle and
lower end of the market respectively.In the mid-1980s, the Indian government
regulations changed and permitted foreign companies to enter the Indian market
through minority joint ventures. The two-wheeler market changed with four Indo-
Japanese joint ventures: Hero Honda, TVS Suzuki, Bajaj Kawasaki and Kinetic
Honda. The entry of these foreign companies changed the Indian market dynamics
from the supply side to the demand side. With a larger selection of two-wheelers on
the Indian market, consumers started to gain influence over the products they bought
and raised higher customer expectations. The industry produced more models, styling
options, prices, and different fuel efficiencies. The foreign companies new
technologies helped make the products more reliable and with better quality. Indian
companies had to change to keep up with their global counterparts.
BOARD OF DIRECTORS
Website http://www.herohonda.com/site/home/home.asp
[ Models ]
Bikes
In the year 1984, Mr. Brijmohan Lal Munjal, the Chairman and Managing Director of
Hero Honda Motors (HHM), headed an alliance between the Munjal family and
Honda Motor Company Ltd. (HMC). HHM Mission Statement is: “We, at Hero
Honda, are continuously striving for synergy between technology, systems, and
human resources to provide products and services that meet the quality, performance,
and price aspirations of our customers. While doing so, we maintain the highest
standards of ethics and societal responsibilities, constantly innovate products and
processes, and develop teams that keep the momentum going to take the company to
excellence in the new millennium”. This alliance became one of the most successful
joint ventures in India, until the year 1999 when HMC had announced a 100%
subsidiary, Honda Motorcycle & Scooter India (HMSI). This announcement caused
the HHM stock price to decrease by 30 percent that same day. Munjal had to come up
with some new strategic decisions as, HMSI and other foreign new entry companies
were causing increased intensity of rivalry for HHM.
GROWTHThe business growth of Hero Honda has been phenomenal throughout its
early days. The Munjal family started a modest business of bicycle components. Hero
Group expanded so big that by 2002 they had sold 86 million bicycles producing
16000 bicycles a day. Today Hero Honda has an assembly line of 9 different models
of motorcycles available. It holds the record for most popular bike in the world by
sales for Its Splendor model. Hero Honda Motors Limited was established in joint
venture with Honda Motors of Japan in 1984, to manufacture motorcycles. It is
currently the largest producer of Two Wheelers in the world. It sold 3 million bikes in
the year 2005-2006. Recently it has also entered in scooter manufacturing, with its
model PLEASURE mainly aimed at girls. The Hero Group has done business
differently right from the start and that is what has helped them to achieve break-
through in the competitive two-wheeler market. The Group's low key, but focused,
style of management has earned the company plaudits amidst investors, employees,
vendors and dealers, as also worldwide recognition.The growth of the Group through
the years has been influenced by a number of factors:
Just-in-Time
The Hero Group through the Hero Cycles Division was the first to introduce the
concept of just-in-time inventory. The Group boasts of superb operational efficiencies.
Every assembly line worker operates two machines simultaneously to save time and
improve productivity. The fact that most of the machines are either developed or
fabricated in-house, has resulted in low inventory levels. In Hero Cycles Limited, the
just-in-time inventory principle has been working since the beginning of production in
the unit and is functional even till date.. This is the Japanese style of production and in
India; Hero is probably the only company to have mastered the art of the just-in-time
inventory principle.
Ancillarisation
An integral part of the Group strategy of doing business differently was providing
support to ancillary units. There are over 300 ancillary units today, whose production
is dedicated to Hero's requirements and also a large number of other vendors, which
include some of the better known companies in the automotive segment. Employee
Policy:
Another Striking feature within the Hero Group is the commitment and dedication of
its workers. There is no organized labor union and family members of employees find
ready employment within Hero. The philosophy with regard to labor management is
"Hero is growing, grow with Hero." When it comes to workers' benefits, the Hero
Group is known for providing facilities, further ahead of the industry norms. Long
before other companies did so, Hero was giving its employees a uniform allowance,
as well as House Rent Allowance (HRA) and Leave Travel Allowance (LTA). Extra
benefits took the form of medical check-ups, not just for workers, but also for the
immediate family members.
Dealer Network
The relationship of Hero Group with their dealers is unique in its closeness. The
dealers are considered a part of the Hero family. A nation-wide dealer network
comprising of over 5,000 outlets, and have a formidable distribution system in place.
Sales agents from Hero travels to all the corners of the country, visiting dealers and
send back daily postcards with information on the stock position that day, turnover,
fresh purchases, anticipated demand and also competitor action in the region. The
manufacturing units have a separate department to handle dealer complaints and
problems and the first response is always given in 24 hours.
Financial Planning
The Hero Group benefits from the Group Chairman's financial acumen and his grasp
on technology, manufacturing and marketing. Group Company, Hero Cycles Limited
has one of the highest labor productivity rates in the world. In Hero Honda Motors
Limited, the focus is on financial and raw material management and a low employee
turnover.
Quality
Quality at Hero is attained not just by modern plants and equipment and through latest
technology, but by enforcing a strict discipline. At the Group factories, attaining
quality standards is an everyday practice - a strictly pursued discipline. It comes from
an amalgamation of the latest technology with deep-rooted experience derived from
nearly four decades of hard labor. It is an attitude that masters the challenge of growth
and change - change in consumers' perceptions about products and new aspirations
arising from a new generation of buyers. Constant technology up gradation ensures
that the Group stays in the global mainstream and maintains its competitive edge.
With each of its foreign collaborations, the Group goes onto strengthen its quality
measures as per the book. The Group also employs the services of independent
experts from around the world to assist in new design and production processes.
Diversification
Throughout the years of enormous growth, the Group Chairman, Mr. Lall has actively
looked at diversification. A considerable level of backward integration in its
manufacturing activities has been ample in the Group's growth and led to the
establishment of the Hero Cycles Cold Rolling Division, Munjal and Sunbeam
Castings, Munjal Auto Components and Munjal Showa Limited amongst other
component-manufacturing units.
Then there were the expansion into the automotive segment with the setting up of
Majestic Auto Limited, where the first indigenously designed moped, Hero Majestic,
went into commercial production in 1978. Then came Hero Motors which introduced
Hero Puch, in collaboration with global technology leader Steyr Daimler Puch of
Austria. Hero Honda Motors was established in 1984 to manufacture 100 cc
motorcycles.
The Hero Group also took a venture into other segments like exports, financial
services, information technology, which includes customer response services and
software development. Further expansion is expected in the areas of Insurance and
Telecommunication.
The Hero Group's phenomenal growth is the result of constant innovations, a close
watch on costs and the dynamic leadership of the Group Chairman, characterized by a
culture of entrepreneurship, of right attitudes and building stronger relationships with
investors, partners, vendors and dealers and customers
TVS MOTOR COMPANY
TVS Motor Company Limited, the flagship company of the USD 2.2 billion
TVS Group, is the third largest two-wheeler manufacturer in India and among the top
ten in the world, with an annual turnover of over USD 650 million.
The year 1980 is one to be remembered for the Indian two-wheeler industry,
with the roll out of TVS 50, India's first two-seater moped that ushered in an era of
affordable personal transportation. For the Indian Automobile sector, it was a
breakthrough to be etched in history. TVS Motor Company is the first two-wheeler
manufacturer in the world to be honoured with the hallmark of Japanese Quality –
The Deming Prize for Total Quality Management.
MANY FIRSTS TO THE AUTOMOTIVE INDUSTRY IN
INDIA
TVS has been at the forefront in bringing a revolution in the way personal
commutation was happening, way back in the 1980s. Beginning with launching a
simple, easy-to-use moped for the middle class in India in the 1980s to launching 7
new bikes in a single day (first time in the history of the automotive industry in the
world), TVS has often taken the unbeaten path to innovation.
2000 Launched India's first 150 cc, 4 stroke motorcycle - The Fiero
Launched India's first fully indigenously designed and manufactured
2001
motorcycle.
Launched the revolutionary VT-I engine for the best in class mileage in
2004
TVS Centra
2006 Launched TVS Apache - first bike to win 6 awards in a row
Apache RTR - first two wheeler in India to have racing inspired engine and
2007
features.
TVS Flame, TVS Scooty Electric Vehicle and Three wheeler TVS King
2008
launched.
TVS MOTORS LIMITED.
TVS Motors
Website www.tvsmotor.in
TV Sundaram Iyengar and Sons Limited (TVSs) is the holding company for the
TVS Group of companies engaged in the manufacturing of almost all kinds of
automotive components, best two wheelers and a few other industrial products. They
are also into the financial services sector. The turnover of the entire group was close
to $2 billion in 2003.TVS was founded by T. V. Sundaram Iyengar in 1911.
It is the only automotive manufacturer in India to get the prestigious Deming Prize.
One of its subsidiaries Sundaram Clayton was the first company in India to receive
the Deming allowed by Sundaram Brake Linings also getting the Deming Prize. This
prize is "given to organizations or divisions of organizations that have achieved
distinctive performance improvement through the application of TQM in a designated
year." Sundaram Clayton went on to be awarded the Japan Quality Medal.
The TVS group of companies is mainly situated in Padi, Tamil Nadu, in the outskirts
of Chennai (formerly Madras).
TVS MOTORS
TVS Motor Company has its origin in SUndaram CLayton Limited, Moped Division,
started in 1980. The factory was started in Hosur, Tamilnadu in southern India. The
first product launched was a 50 cc moped, which appealed to the masses because of
its capability to carry two people. In the same location, the same promotors started
another company in 1984, in collaboration with Suzuki Motor Corporation of Japan,
for the manufacture of 100 cc motorcycles under the brand name of Ind-Suzuki
Motorcycles. Subsequently in the moped division was bought by Ind Suzuki
Motorcycles in 1987 and the company changed its name to TVS Suzuki Ltd. Even
though the company started producing all kinds of two wheelers like mopeds, scooters
and motorcycles, the collaboration with Suzuki continued for the motorcycles only.
The collaboration with Suzuki Motor Corporation ended in 2001 and since then the
name of the company changed to TVS Motor Company. The company now develops
all types of two-wheelers through its own in house R&D facility and manufactures in
three locations in India, Hosur in Tamlnadu, Mysore in Karnataka and Baddi in
Himachal Pradesh. It has recently started a new manufacturing plant in Indonesia to
cater to the South east Asian market. The Chairman and Managing Director of the
Company is Mr. Venu Srinivasan who is the grandson of TV Sundaram Iyengar.
Motorcycles
Mopeds
Rs 49,400-53,000
0-60kph 6.25sec
Price Rs 56000
Displacement 150 cc
TVS APACHE
Displacement 150 cc
It is well known fact that the most important step in marketing research
process is to define the problem. Choose for investigation because a problem well
defined is half solved. That was the reason that at most care was taken while defining
various parameters of the problem. After giving through brain storming session,
objectives were selected and the set on the base of these objectives. A questionnaire
was designed major emphasis of which was gathering new ideas or insight so as to
determine and bind out solution to the problems.
DATA SOURCE
Research included gathering both Primary and Secondary data. Primary data
is the first hand data, which are selected a fresh and thus happen to be original in
character. Primary Data was crucial to know various customers and past consumer
views about bikes and to calculate the market share of this brand in regards to other
brands.
Secondary data are those which has been collected by some one else and
which already have been passed through statistical process. Secondary data has been
taken from internet, newspaper, magazines and companies web sites.
RESEARCH APPROACH
The research approach was used survey method which is a widely used
method for data collection and best suited for descriptive type of research survey
includes research instrument like questionnaire which can be structured and
unstructured. Target population is well identified and various methods like personal
interviews and telephone interviews are employed.
SAMPLING UNIT
It gives the target population that will be sampled. This research was carried in
Bareilly (Distt Bareilly).
After the data has been collected, it was tabulated and findings of the project
were presented followed by analysis and interpretation to reach certain conclusions.
SCOPE
1. Research work was carried out in one Distt of U.P. (BAREILLY) only the finding
may not be applicable to the other parts of the country because of social and
cultural differences.
4. The views of the people are biased therefore it doesn’t reflect true picture.
Q1) Which bike do you have?
Hero Honda 30
Bajaj 30
Any other 30
HERO HONDA
INTERPRETATION: - In Hero Honda mostly the customers are having splendor
while the ratio of the customers using Passion, Karizma and other bikes are
comparatively low.
BAJAJ
TVS
INTERPRETATION:- In TVS Bikes the customers are givig more preference
to the other models rather than Flame,Starcityand Apache.
100000-200000 22
200000-300000 45
300000-400000 23
above 400000 10
INTERPRETATION: - The maximum numbers of customers that are using
these bikes fall in the income group of 200000-300000. While this ratio is minimum
in case of customers whose income level fall between 300000-400000.
0-1 year 34
1-2 year 29
2-3 year 26
above 3 year 11
INTERPRETATION: - It is observed that mostly the customers are having
new bikes.
Office Purpose 13 42 38
Personal purpose 17 15 27
Joy Purpose 10 18 10
Other 40 15 15
INTERPRETATION:- The customers are using their bikes mostly for official and
personal purpose.
Q6) How do you come to know about this Motor Bike?
Newspaper 28 33 22
Television 22 28 18
Magazine 8 16 28
Yes 65
No 15
Can’t say 10
Yes 55
No 28
Can’t say 7
TVS
42 34
Yes 37
37 27
No 22
Can’t Say 11 29
31
INTERPRETATION:- It is observed that most of the customers are having full
knowledge of the bike before purchasing.
Price 17 22 28
Mileage 28 15 15
Quality 11 20 16
Resale Value 12 14 17
Status symbol 32 19 14
HERO HONDA
INTERPRETATION:- In Hero Honda bikes the mileage of the bike and the value that
it adds to the status symbol of the customers influences the decision criteria of most of
the customers.
BAJAJ
INTERPRETATION:- In Bajaj bikes customers gets more influenced by the price and
quality of the bike and also they think that it adds value to their prestige.
TVS
INTERPRETATION: - In TVS bike the economic price of the bikes influences the
buying behavior of the customers.
Q11) How would you rate the following factors of Bikes with respect to different
company?
74% 72%
Mileage 68%
Yes 10 16 14
No 16 11 11
Can’t say 4 3 5
INTERPRETATION:- It is observed that the customers of Hero Honda bikes are not
ready to change their bikes even if a new bike comes in with good features. While
majority of the customers of Bajaj and TVS are ready to change their bikes if new
bike provides some good features to them.
FINDINGS
During this research project I came in to contact with many customers who are
having bikes. It has been found that in Hero Honda mostly the customers are having
splendor while the ratio of the customers using Passion, Karizma and other bikes are
comparatively low. In Bajaj the customers are giving more preference to Discover and
Pulsar models and in case of TVS Bikes the customers are givig more preference to
the other models rather than Flame,Starcityand Apache. The maximum numbers of
customers that are using these bikes fall in the income group of 200000-300000.
It has been observed that the customers are using their bikes mostly for
official and personal purpose. It is observed that the awareness of Hero Honda bikes
mostly comes from friends while of Bajaj and TVS the awareness comes from
newspapers and televisions. Out of the sample size of 90 customers, 65 customers
agree with the fact that advertisements play a very significant role in influencing their
behavior to choose the bike. On the other hand 15 customers do not agree to this fact.
While remaining 10 customers are not sure about it.
When the customers are asked that are they satisfied with the performance of
their bikes then most of them agrees to the fact. Out of the sample size of 90
customers, 55 customers says that they are satisfied with the performance of their
bikes. On the other hand 28 customers are not satisfied with the performance of the
bikes that they are having. While the remaining 10 customers are unable to say
anything. It is observed that most of the customers are having full knowledge of the
bike before purchasing
It has been seen that In Hero Honda bikes the mileage of the bike and the
value that it adds to the status symbol of the customers influences the decision criteria
of most of the customers. In Bajaj bikes customers gets more influenced by the price
and quality of the bike and also they think that it adds value to their prestige. While in
case of TVS bike the economic price of the bikes influences the buying behavior of
the customers.
1. Most of the Flame, Apache, Pulsar, CBZ & Karizma are purchased by young
generation 18 to 30 years because they prefer stylish looks and rest of the models
of Hero Honda, TVS and Bajaj are purchased more by daily users who needs
3. Service & Spare parts are available throughout India in local markets also.
5. Majority of the respondent had bought their motorcycle more than 3 years.
RECOMMENDATIONS
1. Bajaj should introduce some more models having more engine power.
2. Hero Honda should think about fuel efficiency in case of upper segment
bikes.
4. Maintenance cost and the availability of the spare parts should also be
1. www.herohonda.com
2. www.google.com
3. www.bajaj.com
4. www.twowheeler.com
5. www.extrememachines.com
QUESTIONNAIRE
NAME: - ………………………………………………
CONTACT NO ……………………………………….
25.30 Above 30
Student Other
Karizma Other
Pulsar Other
100000-200000 200000-300000
Newspaper Television
Magazines Friends/Relatives
Q7) Are you satisfied with the performance of the bike that you are currently having?
Q11) How would you rate the following factors of bikes with respect to different companies?
Mileage
Price
Pick up
Maintenance
Look/Shape
Brand Image
Q12) If new bike with good feature comes in, then would you like to change your bikes?
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………
Date: (Signature)