Group 8 Section B MBA (IB) 2013-15

1/10/2014
PROJECT SYNOPSIS:
BUSINESS RESEARCH
METHOD
Segmentation & Positioning strategy for KTM
Duke bikes in India
Under the guidance of Prof. Sonu Verma
Submitted by
Amit Thakur 8B
Ashwani Pasricha 12B
Greeshma Rao 18B
Mudrika Chandnani 27B
Sandipkumar Gorasiya 41B
Umang Gulati 51B
Vishal Gupta 54B

1/10/2014
1















DECLARATION


"This Research Project is submitted by to Indian
Institute of Foreign Trade, New Delhi in partial
fulfillment of the requirements for the MBA (IB)
degree. This is an original work. It is neither copied
(partially/fully) from any other scholastic work nor
is it submitted to any other institution for any
degree or diploma. I remain fully responsible for
any error and plagiarism."
1/10/2014
2
Table of Contents
Title of the project .......................................................................................................... 3
Introduction/background to the research (including reasons for doing the project) .... 3
Why this research .......................................................................................................... 3
Literature review ........................................................................................................... 3
Management Decision Problem ..................................................................................... 4
Business Research Problem........................................................................................... 4
Approach to the Problem ............................................................................................... 4
Objectives and sub problems ......................................................................................... 5
Research Design ............................................................................................................ 5
Descriptive Research .................................................................................................. 5
Sampling Plan ........................................................................................................ 5
Sources of Data ....................................................................................................... 5
Initial Approach ............................................................................................................. 6
Questionnaire ................................................................................................................ 7
Analysis .......................................................................................................................... 7
Factor Analysis........................................................................................................... 8
Kaiser-Meyer-Olkin Measure of Sampling Adequacy............................................ 8
Bartlett's Test of Sphericity ................................................................................... 8
Components of Each Factor .................................................................................. 10
Conclusion from Factor Analysis ......................................................................... 11
Conjoint Analysis ..................................................................................................... 11
Conclusion from conjoint analysis ........................................................................ 16
Cluster Analysis ....................................................................................................... 18
Conclusion from Cluster Analysis ........................................................................ 20
Perceptual Mapping ................................................................................................. 20
Conclusion .................................................................................................................... 21
Appendix 1 Questionnaire ........................................................................................... 22
Appendix 2 Files .......................................................................................................... 30
Appendix 3 Cluster Variables...................................................................................... 31
Bibliography/References .............................................................................................. 31

1/10/2014
3
TITLE OF THE PROJECT
The purpose of this research is to identify Segmentation & Positioning strategy for
KTM Duke Bikes in India.
INTRODUCTION/BACKGROUND TO THE RESEARCH
(INCLUDING REASONS FOR DOING THE PROJECT)
A high rated product, a growing market appetite for premium bikes in India
and the reach of Bajaj in the country, future looks good for KTM bikes in India.
One of the biggest motorcycle companies from Europe, KTM has made its foray
in India with the 200 Duke street model via the Bajaj-KTM partnership. While
many would not be aware about the KTM brand, 200 Duke has painted the
town in orange. With Bajaj Auto manufacturing the 200 Duke at their Chakan
plant near Pune, the maker has been able to price the gorgeous 200 Duke
competitively in a market like India which is highly price conscious. They have
been able to sell 8500 of them making them, by far the highest selling premium
bike in India. Buoyed with the success they have just launched 390 Duke which
is a step up from the previous model.
WHY THIS RESEARCH
India has become a hotbed of premium motorcycle manufacturers with the big
boys like Harley Davidson and Triumph Motors setting shop here. Previous
years also saw the coming of Korean major Hyosung as well as giants like
Suzuki and Yamaha. In short, an Indian customer has large number of
products to choose from and competition is only getting hotter. Although
growing at a good pace, the market is still small for these bikes and hence we
felt the need to undertake this project to identify segmentation and positioning
strategy of new KTM bikes in this ever so crowded bike market space.

LITERATURE REVIEW
What is market segmentation? It is nothing but the process of breaking down
all consumers into groups of potential buyers with similar characteristics.
Choosing select groups of people and organizations to sell to is called targeted
marketing, or differentiated marketing. It is a relatively new phenomenon.
Mass marketing, or undifferentiated marketing, came first. It evolved along
with mass production and involves selling the same product to everybody.
1/10/2014
4
Segmenting and Targeting markets doesnt necessarily mean skinnying
down the number of customers. In fact, it can help enlarge customer base by
giving information with which to successfully adjust some component of
offering-the offering itself, its price, the way to service and market it, and so
on. More specifically, the process can help do the following:
Avoid head-on competition with other firms trying to capture the same
customers
Develop new offerings and expand profitable brands and products lines
Remarket older, less-profitable products and brands
Identify early adopters
Redistribute money and sales efforts to focus on your most profitable
customers
Retain at-risk customers in danger of defecting to your competitors
The trend today is toward more precise, targeted marketing. Figuring out
whos who in terms of customers involves some detective work, though-often
market research. A variety of tools and research techniques can be used to
segment markets. Government agencies, such as the Census Bureau, collect
and report vast amounts of population information and economic data that can
reveal changing consumption trends. Technology is also making it easier for
even small companies and entrepreneurs to gather information about potential
customers.
MANAGEMENT DECISION PROBLEM
How to increase the popularity and sales of KTM Duke and whom to target?
BUSINESS RESEARCH PROBLEM
To study the various factors influencing the consumer behavior while
purchasing a naked bike and the impact of performance centric features on the
consumer preferences.
APPROACH TO THE PROBLEM
A systematic approach to conducting the research was followed.
Literature review, interactions with customers and learnings from the
course were leveraged to develop an understanding into concept of brand
loyalty to evolve a means of measuring it.
Insights into the buying behavior of both corporate and retail sector was
used to develop insights into what strategy the company should adopt
1/10/2014
5
Quantitative research to measure brand loyalty was carried out by
designing a questionnaire.
Online surveys among the target group was carried out to form the basis
for our analysis. The target group was then surveyed at the Point of
sales in the relevant market.

OBJECTIVES AND SUB PROBLEMS
To investigate the real needs and preferences of customers
To develop a revamp strategy based on these needs and preferences
To know the perception of the people in the market about the naked
bikes
To segment the market based on these perceptions
To propose a promotional strategy based on these segments
RESEARCH DESIGN
Descriptive Research
The respondents were asked about their attitudes towards several
factors that may affect their choice of bike
The questionnaire was administered through online surveys amongst
the target group.
The scaling techniques used were: The 7/9 point Likert scale for attitude
measurement
The Questions in the questionnaire were a mix of disguised as well as
undisguised questions.
Sampling Plan:
Target Population
The 18-45 age group people.
Sampling Framework:
18-45 age group people who either own a bike or are planning to buy a bike.
Sampling Method
Random sampling has been employed
Sources of Data:
An online survey floated on google forms was conducted on people who were
either owning a bike or planning to have one. Convenience sampling was used
in identification of those respondents
1/10/2014
6
Exploratory Phase
Initial research to be conducted with a few nearby consumers (students, friends
etc.) in order to completely identify the list of variables which build up the
consumers perception on the product i.e. KTM bikes and other bikes available
in the market.
Descriptive Phase
This phase is a quantitative one and is proposed to be descriptive research
phase where the structured questionnaire is prepared to measure the factors
of consumer preferences with regards to KTM and of their biking preferences
in general.
Data Filtering:
Though efforts were made to take utmost care to ensure no errors in filling the
questionnaires, nine responses out of a hundred and eighty nine were
insufficiently filled or were poorly filled (e.g. All fields were filled as 1). Such
responses were filtered out.
INITIAL APPROACH:
An extensive research on factors affecting motorcycle buying behavior was
carried out accessing the huge amount of literature available on the subject.
Our analysis of the mind of the Indian consumer and the nature of the industry
we were focused on led us to conceptualize the important attributes of bikes in
an Indian context under the following heads, we could narrow down to 12
factors which affect bike buying. This was chosen based on interactions with a
sample of users
Torque
Engine Output
Ride Quality
Handling
Price
Maintenance Cost
Resale
Fuel Economy
1/10/2014
7
Category
Color
Brand
Styling
QUESTIONNAIRE:
The Questionnaire was designed in a scientific manner taking into account the
discussions held in the classroom. Proper care was taken while designing the
questions and evolving an order. Initial focus was on studying the factors
affecting Brand choice. Latter part of the questionnaire focused on gauging the
respondents attitude towards the attributes.
(See appendix 1)
ANALYSIS:
Analysis of the data was done on SPSS 16.0
(See appendix 3)



1/10/2014
8
Research Problem 1:
Determine the factors that influence customers choice of bike

Approach:
Conducted a Factor Analysis to identify a smaller set of uncorrelated variables
to replace the original set of variables.
Factor Analysis:

KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .843
Bartlett's Test of Sphericity Approx. Chi-Square 92.523
Df 15.000
Sig. .000

Kaiser-Meyer-Olkin Measure of Sampling Adequacy:
KMO > 0.5, i.e. Sample is adequate.

Bartlett's Test of Sphericity:
Null: Ho: No Correlation between variables.
Alternate: H1: Correlation exists between variables.
Bartletts Significance, p = 0.000 < .
Rejecting the null hypothesis and we can go ahead with the factor analysis as
correlation exists between the variables.



1/10/2014
9
Total Variance Explained
Comp
onent
Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings
Total % of Variance Cumulative % Total % of Variance Cumulative % Total % of Variance Cumulative %
1 2.830 25.047 25.047 2.830 25.047 25.047 2.585 21.543 21.543
2 2.529 22.378 47.424 2.529 22.378 47.424 2.513 20.940 42.483
3 2.233 19.758 67.183 2.233 19.758 67.183 2.494 20.781 63.264
4 .980 8.668 75.851

5 .889 7.865 83.716

6 .747 6.609 90.325

7 .552 4.883 95.213

8 .221 1.954 97.167

9 .186 1.649 98.816

10 .103 .915 99.731

11 .023 .200 99.930

12 .008 .070 100.000

Extraction Method: Principal Component
Analysis.

Determination of number of factors is based on Eigen Values.
There are 3 factors according to this method, with Eigen values greater than
1, these 3 factors account for more than 67% of the total variance.
1/10/2014
10
Component Score Coefficient Matrix

Component

1 2 3
Category .076 .402 .698
Price .227 .638 .243
Torque .718 -.007 .369
Engine .507 .020 .380
Ride .555 .293 -.029
Handling .620 .041 -.081
Color -.090 .214 .538
Maintenance .144 .531 .008
Resale .289 .641 -.017
Brand .348 -.078 .637
Fueleconomy .234 .757 .077
Styling .086 .314 .702
Extraction Method: Principal Component Analysis.
Rotation Method: Varimax with Kaiser Normalization.

Components of Each Factor
Factor1: Performance Centric Features
Variable Component Score
Torque
0.718133
Engine Output
0.507448
Ride Quality
0.555021
Handling
0.620395

Factor2: Cost Centric Features
Variable Component Score
Price 0.638408
Maintenance 0.530849
Resale Value 0.640513
Fuel Economy 0.757496


1/10/2014
11
Factor3: Looks Centric Features
Variable Component Score
Category 0.698175
Color 0.538483
Brand 0.636539
Styling 0.701795


Conclusion from Factor Analysis
We have identified 3 factors which are namely
Performance centric features
Cost centric features and
Looks centric features
Among the three factors price and torque dominates among cost and
performance centric features. This observation is in line with the expectation
of our target group.

Research Problem 2:
Determine which factor is most important to the customer
Approach:
We conducted a Conjoint Analysis to identify the importance attached to these
attributes by the potential customers.
Conjoint Analysis
Conjoint analysis attempts to determine the relative importance consumers
attach to salient attributes and the utilities they attach to the levels of
attributes.
The respondents are presented with stimuli that consist of combinations of
attribute levels and asked to evaluate these stimuli in terms of their
desirability.

1/10/2014
12
Conjoint procedures attempt to assign values to the levels of each attribute, so
that the resulting values or utilities attached to the stimuli match, as closely
as possible, the input evaluations provided by the respondents.
Steps in conducting a Conjoint Analysis
Formulate the problem
Construct the stimuli
Decide the form of input data
Select a conjoint analysis procedure
Interpret the result
Assess reliability and validity
Selected attributes are based on the results obtained in Factor Analysis
Attribute and Levels
Attribute Level No Range

Price of KTM Duke
3 <150 000
2 150 000-250 000
1 >250 000

Torque of KTM Duke

3 <15
2 15-25
1 >25

Fuel Economy of KTM Duke

3 <25
2 25-50
1 >50

Engine Capacity of KTM Duke

3 <200
2 200-500
1 >500

Card
Id
Price of KTM
Duke
Torque of KTM
Duke
Fuel Economy of KTM
Duke
Engine Capacity of KTM
Duke
1 <150 000 15-25 <25 <200
2 150 000-250 000 >25 >50 200-500
3 >250 000 >25 >50 >500
4 <150 000 >25 <25 <200
5 150 000-250 000 15-25 25-50 200-500
6 >250 000 >25 >50 >500
7 <150 000 <15 <25 200-500
8 150 000-250 000 15-25 >50 >500
9 >250 000 >25 >50 200-500
10 <150 000 15-25 >50 200-500
11 150 000-250 000 >25 >50 <200
12 >250 000 >25 25-50 >500
1/10/2014
13
13 <150 000 15-25 25-50 >500
14 150 000-250 000 >25 >50 >500
15 >250 000 >25 25-50 200-500
Utility Functions

Utility Equations (Price)
a11 - a13 = 1.000
a12 - a13 = .500
a11 + a12 + a13 = 0


Actual
Values
Scaled
Values
a11 0.500 0.00
a12 0.000 -0.50
a13 -0.500 -1.00



Range Importance
-1.20
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
U
t
i
l
i
t
y
Price
Part-Worth Functions (Price)
<150 000 150 000-250 000 >250 000
1/10/2014
14
1.000 23.53%



Utility Equations (Torque)
a21 - a23 = .625
a22 - a23 = .250
a21 + a22 + a23 = 0


Actual
Values
Scaled
Values
a11 0.333 0.00
a12 -0.042 -0.38
a13 -0.292 -0.63

Range Importance
-2.00
-1.80
-1.60
-1.40
-1.20
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
U
t
i
l
i
t
y
Fuel Economy
Part-Worth Functions (Fuel Economy)
<25 25-50 >50
1/10/2014
15
0.625 14.71%


Utility Equations (Engine Capacity)
a41 - a43 = .875
a42 - a43 = .750
a41 + a42 + a43 = 0


Actual
Values
Scaled Values

a11 0.333 0.00
a12 0.208 -0.13
a13 -0.542 -0.88

Range Importance

0.875 20.59%
-1.00
-0.90
-0.80
-0.70
-0.60
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
U
t
i
l
i
t
y
Engine Capacity
Part-Worth Functions (Engine
Capacity))
<200 200-500 >500
1/10/2014
16



Conclusion from conjoint analysis
Utility Equations (Torque)
a31

-

a33

=

1.750





a32

-

a33

=

1.000





a31

+

a32

+

a33

=

0



Actual Values


Scaled Values


a11



0.833



0.00


a12



0.083



-0.75

a13



-0.917



-1.75






Range



Importance









1.750



41.18%










-0.70
-0.60
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
U
t
i
l
i
t
y
Torque
Part-Worth Functions (Torque)
<15 15-25 >25
1/10/2014
17
These attributes were taken from the factor analysis output. Thereafter we ran
this analysis to find out the importance attached to these attributes by the
potential customers.
Attributes and Levels
Attribute Level No Price of Reva Utility Importance
Price of bike
3 <3,00,000 0.500
23.53%
2 3,00,000-4,50,000
0.000
1 >4,50,000 -0.500
Fuel Economy
3 >120 km/hr 0.333
14.71%
2 80-120 km/hr -0.042
1 <80 km/hr -0.292
Torque
3 100-130 0.833
41.18%
2 70-100 0.083
1 40-70 -0.917
Engine Capacity
3 >=5 0.333
20.59%
2 4 0.208
1 2 -0.542

As we can see, for the target customer, torque is the most important factor
Research Problem 3:
Determine sets of customers based on their buying/importance to attributes
pattern


Approach:
1/10/2014
18
We conducted a Cluster Analysis to identify the similar set of people based on
their attitude towards bike attributes.

Cluster Analysis

Agglomeration Schedule
Stage
Cluster Combined
Coefficients
Stage Cluster First Appears
Next Stage Cluster 1 Cluster 2 Cluster 1 Cluster 2
1 4 8 4.000 0 0 3
2 2 5 4.000 0 0 5
3 3 4 8.000 0 1 8
4 9 10 14.000 0 0 7
5 1 2 16.000 0 2 9
6 6 7 21.000 0 0 7
7 6 9 24.000 6 4 8
8 3 6 28.750 3 7 9
9 1 3 55.381 5 8 0


Cluster Membership
Case 3 Clusters
cvar01 1
cvar02 1
cvar03 2
cvar04 2
cvar05 1
cvar06 3
cvar07 3
cvar08 2
cvar09 3
cvar10 3


1/10/2014
19
Case Processing Summary
a

Cases
Valid Missing Total
N Percent N Percent N Percent
180 100.0% 0 .0% 180 100.0%
a. Squared Euclidean Distance used


Vertical Icicle
Number of
clusters
Case
cvar10

cvar09

cvar07

cvar06

cvar08

cvar04

cvar03

cvar05

cvar02

cvar01
1 X X X X X X X X X X X X X X X X X X X
2 X X X X X X X X X X X X X

X X X X X
3 X X X X X X X

X X X X X

X X X X X
4 X X X

X X X

X X X X X

X X X X X
5 X X X

X

X

X X X X X

X X X X X
6 X X X

X

X

X X X X X

X X X

X
7 X

X

X

X

X X X X X

X X X

X
8 X

X

X

X

X X X

X

X X X

X
9 X

X

X

X

X X X

X

X

X

X


Dendrogram



* * * * * * * * * * * * * * * * * * * H I E R A R C H I C A L C L U S T E R A
N A L Y S I S * * * * * * * * * * * * * * * * * * *


Dendrogram using Average Linkage (Between Groups)

Rescaled Distance Cluster Combine

C A S E 0 5 10 15 20 25
Label Num +---------+---------+---------+---------+---------+

cvar04 4
cvar08 8
cvar03 3
cvar09 9
cvar10 10
cvar06 6
cvar07 7
1/10/2014
20
cvar02 2
cvar05 5
cvar01 1

Conclusion from Cluster Analysis
Cluster analysis is a class of techniques used to classify objects or cases
into relatively homogeneous groups called clusters. Objects in each
cluster tend to be similar to each other and dissimilar to objects in the
other clusters. Cluster analysis is also called classification analysis, or
numerical taxonomy.
We use the hierarchical method of clustering.
In that, we have used the variance method - Wards method.
In Wards method, for each cluster, the means for all the variables are
computed. Then, for each object, the squared Euclidean distance to the
cluster means is calculated. These distances are summed for all the
objects. At each stage, the two clusters with the smallest increase in the
overall sum of squares within cluster distances are combined.
Thus we have identified 3 clusters based on the information from the
Agglomeration schedule and the Dendogram.


Clusters Identified
The Value Oriented Customer cvar1,cvar2,cvar5
The Performance Oriented
Customer
cvar3,cvar4,cvar8
The Look Conscious Customer cvar6,cvar7,cvar9,cvar10

Research Problem 4:
Determine the perceptual mapping of bikes available in the market and
identify the space available.
Approach:
We conducted a Cluster Analysis to identify the similar set of people based on
their attitude towards bike attributes.

Perceptual Mapping
1/10/2014
21
We further did the perceptual mapping for the available bikes and the result
is displayed below.

Its pertinent to note that in the Classy Distinctive-Sporty Quadrant, there
is not much presence (in the north-east corner marked by green region). So this
is the quadrant which should be targeted by KTM to launch its bikes and
position.




CONCLUSION
Based on the results obtained we suggest the following:-
The KTM should target the performance centric customers
Bikes should be positioned in high performance strata
Color options hasnt got much weightage so the policy of having only two
color options is not a deterrent
It should not launch its bikes in low price segment as it might affect its
brand image

Honda CBR 250R
Hero Karizma ZMR
Bajaj Pulsar 200N S
Yamaha R15
Royal Enfield
Thunderbird
Royal Enfield Classic
350
Royal Enfield Classic
500
KTM Duke 200
Kawasaki Ninja
Sporty Conservative
Classy distinctive
Price affordable
1/10/2014
22
APPENDIX 1: QUESTIONNAIRE
Consumer Survey on Premium Bikes
* Required

At the moment do you own a bike? *

Do you plan to buy a bike in near future *

If you were to buy a bike which category it would be in?

How important are the following attributes if you are planning to buy a bike : Price
1 2 3 4 5 6 7
Not at all important

Extremely important

Torque
1 2 3 4 5 6 7
Not at all important

Extremely important

Engine Output
1 2 3 4 5 6 7
Not at all important

Extremely important

Ride Quality
1/10/2014
23

1 2 3 4 5 6 7
Not at all important

Extremely important

Handling
1 2 3 4 5 6 7
Not at all important

Extremely important

Color Options
1 2 3 4 5 6 7
Not at all important

Extremely important

Maintenance Cost
1 2 3 4 5 6 7
Not at all important

Extremely important

Resale Value
1 2 3 4 5 6 7
Not at all important

Extremely important

Brand Image
1 2 3 4 5 6 7
Not at all important

Extremely important
1/10/2014
24

Fuel Economy
1 2 3 4 5 6 7
Not at all important

Extremely important

Overall Styling
1 2 3 4 5 6 7
Not at all important

Extremely important

If Naked Bikes are priced higher than the similar premium/semi premium bikes, I will not
consider buying them even if they had new additional features *
1 2 3 4 5 6 7
Completely Disagree

Completely Agree

I am not comfortable with the idea of "posture and riding position on naked bikes" *
1 2 3 4 5 6 7
Completely Disagree

Completely Agree

Owning a naked bike will set me apart from the crowd; I will be seen as a trend-setter *
1 2 3 4 5 6 7
Completely Disagree

Completely Agree

Naked bikes being a niche product will set me apart from crowd *
1/10/2014
25

1 2 3 4 5 6 7
Completely Disagree

Completely Agree

I believe that the safety and strength of a naked bike is as per the overall industry standards *
1 2 3 4 5 6 7
Completely Disagree

Completely Agree

I like to ride bikes with new and unusual technologies *
1 2 3 4 5 6 7
Completely Disagree

Completely Agree

I am concerned about the ever increasing petrol prices and a commuter bike will insure me
against this *
1 2 3 4 5 6 7
Completely Disagree

Completely Agree

The low maintenance cost of a commuter bike makes it a very attractive option ar far as my
next car purchase is concerned *
1 2 3 4 5 6 7
Completely Disagree

Completely Agree

Buying a naked bike makes sense to me only when it has a substantial resale value *
1 2 3 4 5 6 7
1/10/2014
26
Completely Disagree

Completely Agree

I will think twice before buying a naked bike since it is a new and untested concept *
1 2 3 4 5 6 7
Completely Disagree

Completely Agree

Rate These bike brands on following styling attribute : Honda CBR 250R
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following image attribute : Honda CBR 250R
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :Hero Karizma ZMR
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :Bajaj Pulsar 200 NS
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

1/10/2014
27
Rate These bike brands on following image attribute :Yamaha R15
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :Royal Enfield Thunderbird
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :Royal Enfield Classic 350
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :Royal Enfield Classic 500
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :KTM Duke 200
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :Kawasaki Ninja
1 2 3 4 5 6 7 8 9
1/10/2014
28
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :Hero Splendor
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following image attribute :Bajaj Discover
1 2 3 4 5 6 7 8 9
Practical Affordable

Classy Distinctive

Rate These bike brands on following styling attribute : Hero Karizma ZMR
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following styling attribute : Bajaj Pulsar 200 NS
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following styling attribute : Yamaha R 15
1 2 3 4 5 6 7 8 9
Conservative

Sporty

1/10/2014
29
Rate These bike brands on following styling attribute : Royal Enfield Thunderbird
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following styling attribute : Royal Enfield Classic 350
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following styling attribute : Royal Enfield Classic 500
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following styling attribute :KTM Duke 200
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following styling attribute :Kawasaki Ninja
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following styling attribute :Hero Splendor
1 2 3 4 5 6 7 8 9
1/10/2014
30
Conservative

Sporty

Rate These bike brands on following styling attribute :Bajaj Discover
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Rate These bike brands on following styling attribute :TVS Apache RTR
1 2 3 4 5 6 7 8 9
Conservative

Sporty

Your age

Your gender
M


Your Annual income

Submit

APPENDIX 2: FILES
SPSS.pdf SPSS-Cluster.pdf SPSS Cluster.spv SPSS Factor.spv




1/10/2014
31
APPENDIX 3: CLUSTER VARIABLES






BIBLIOGRAPHY/REFERENCES
http://ktm.com
http://en.wikipedia.org
http://www.google.com/finance
http://www.bajajauto.com
If Naked Bikes are priced higher than the similar
premium/semi premium bikes, I will not consider buying them
even if they had new additional features
cvar01
I am not comfortable with the idea of "posture and riding
position on naked bikes"
cvar02
Owning a naked bike will set me apart from the crowd; I will
be seen as a trend-setter
cvar03
Naked bikes being a niche product will set me apart from
crowd
cvar04
I believe that the safety and strength of a naked bike is as per
the overall industry standards
cvar05
I like to ride bikes with new and unusual technologies cvar06
I am concerned about the ever increasing petrol prices and a
commuter bike will insure me against this
cvar07
The low maintenance cost of a commuter bike makes it a very
attractive option ar far as my next bike purchase is concerned
cvar08
Buying a naked bike makes sense to me only when it has a
substantial resale value
cvar09
I will think twice before buying a naked bike since it is a new
and untested concept
cvar10