REVIEW OF LITERATURE

The researcher has collected the several researchers’ viewpoints, Analytical reports
and related details of two wheeler financing, this section the collected materials as review of
literature.

Rengasamy Elango and Vijayakumar Gudep has presented in their study the service
quality and customer satisfaction among the private, public
and foreign banks in India. An analysis is carried out to examine the level of
awareness among customers and to identify the best sector which provides qualitative
customer service. This becomes relevant in the context of recommendations of various
committees constituted by the Government of India and the RBI, from time to time, to
suggest measures to improve customer service system the public sector commercial banks of
India. Globally, franchising is considered as a major route to achieve fast track growth in
business. Companies that have achieved growth at exponential rates have done so, not by
attempting to spread their own branches, but by associating with like-minded people, who
provide, in addition to other sources, finance and entrepreneurial talents. This should be seen
as a perfect example of leveraging a business by brings in external resources. Franchising is a
contractual agreement between independent firms, which calls for coordinated operation of
the unified chain towards a common goal. The functioning of such a network will be riddled
with numerous issues between the partners. Clarity in the larger objectives to be achieved by
the network and on the roles that the individual partners take up becomes important factors
that determine the success of the network.

The major development in the marketing literature is emergence of services marketing as a

domain. As pointed out by Payne (2002) during the 1980's the emphasis of marketing was on
services marketing (The major reason for the evaluation and growth of services marketing as
an off shoot of marketing is due to the vibrant service sector - the part of the country's
economy represented by a spectrum of services - like legal services, restaurants, saloons,
insurance, dry cleaning, telecommunications, cinema, mail service, long distance phone call,
electricity, passenger transportation, repairs etc).

But services are not something very new. Hiring mercenaries, entertainment, finance services
are offered to the market even before the era of Christ. Service is as old as agricultural sector.
Now, at the dawn of the new millennium service is the most vibrant sector in most developed
and developing economies. Furthermore, many service activities are not accounted like, the
services of domestic help, maid, laundry, platform, restaurants, saloons, etc. If these activities
are accounted the service sector will grab a higher share of Gross Domestic Product (GDP).

Marketing is defined as the performance of business activities that direct the flow of goods
from the producer to the consumers. Paul Mazur defines marketing s the delivery of standard
of living. By satisfying existing needs of the consumers and creating new desires for better
and improved products marketing sets the pattern of consumption and improves the living
standards of the people.
According to Peter Drucker, marketing is the only distinguishing and unique functions of
business. If we want to know what a business is we have to start with its purpose. And its
purpose must lie outside the business itself In fact, it must lie in society since a business
enterprise is an organ of society. There is only one valid definition of business purpose that is
to create a customer. Theodore Levitt expressed the management must think of itself not as
producing products but as providing customer-creating value satisfaction. It must push this
idea into every nook and cranny of the organization. Otherwise the company will be merely
a series of pigeonhold parts with no consolidating sense of purpose of direction. In short, the
organization must learn to think of itself not as producing goods or services but as buying
customers, as doing things that will make people want to do business with it.

According to Peter Drucker the neglect of marketing is one of the main factors which keep an
economy underdeveloped. He strongly argues that Marketing might by itself go far toward
changing the entire economic tone of the existing system without any change in methods of
production,

Marketing is the design, organization and implementation of economic and social

programmes to influence public participation in a nation's development. This involves
techniques of marketing research, product planning, pricing, communication and distribution.

Marketing as conceived and practiced by the more mature economies has two basic tasks,
namely to direct the use of resources in conformity with demand; and to aid in making the
economy more dynamic.'
In the more sophisticated economies of the West it is perhaps inevitable that the marketing
concept came into ascendancy as an overriding philosophy of management. The economies
of such countries have often been described as market-oriented. An important factor in this
development has been the existence of substantial competition among firms catering to the
same market. In recent years, this competition has become more severe owing to rising
discretionary income, the movement of firms into new and varied product lines, and growing
cross line product competition wherein a second car competes with vacation travel.

The American Marketing Association defines channel of distribution as an organized network

of agencies and institutions which, in combination perform all the activities required to link
producers with users to accomplish the marketing task.

Pankaj Munjal in his article “Smart Launch in Tamil Nadu” said “It is high time we sit and
take a closer look at the 14 million to 4.5 million ratios of cycles to two wheelers. If the
nation has to progress, let us not limit ourselves to 4.5 million two wheelers users and instead
current rate on that population which is the real India. Let us try and make a difference in the
true sense.

T. Jayashree has made “A Study on customer satisfaction of Hero Honda Motor Cycle with
reference to free service rendered by Gem Motors”. She has given the following conclusion
in her study. The dealer can improve the quality of service by appointing trained people and
they should pay more attention on the complaint mentioned by the customer and they should
give details about unique feature, warranty schemes, operating features and safe riding of the
vehicle.

Senthil Kumar in his study, “Customer satisfaction of TVS vehicles with specific reference to
M/s. Sarathi Agencies”. He has conducted in his study is that the spares should be made
readily available and dealer should appoint more skilled mechanics and service charge should
be reduced and more advertisements should be made for new vehicle.

Sasikala has made “A Study on Customer satisfaction of TVS group of vehicles (Mopeds,
Scooters & Bikes) in Indo Shell Agency Division”. Findings in her study is, that the dealer
should improve the quality of sales, service and after sales service be delivered in a
reasonable amount of time keeping in perspective, the completion
service and delivery speed. Interest is shown in old vehicles even if the period of the vehicles
is owned more so that the customer will be satisfied.
Pawan Kant Munjal5 in his article “Pole position” said. The world over motorcycles is the
leading two wheelers. It is only in Italy, India and Indonesia where you see scooters
dominating but now motorcycles are ahead in India too, due to many Indo-Japanese new
ventures that pushed up sales. He graciously allocated credit to TVS Suzuki, Kawazaki, Bajaj
and Escorts, Yamaha 100 cc like for offering well.
Anand Prakash6 of product planning in “Honda motor cycle and Scooter India Pvt. Ltd.,” in
his article “Bike Test” said, the customer is more interested in pricing rather than looking at
non essential functionality.

According to Joe Rocket dealers, “let your customers know that the mother ship wants to hear
from them”. The newly remodeled www.joerocket.com lets JR fans submit photos, stories
and accounts of their Joe Rocket experiences. The site also showcases 2005 products with
updated photos and imagery, and features racing pictures, video dips and news posts of
various two wheelers.
This article reports that with fuel prices soaring above $3 a gallon, sales of motor scooters are
booming in the U.S. Thomas Vorpahl, owner of Vespa Atlanta in Duluth, Georgia, says that
sales have risen sharply this spring, partly because scooters can average 60 to 70 mpg. Paolo
Timoni, president of Piaggio Group America Inc., said that Vespa surveyed 1,000 Americans
to see if they would consider a scooter, and
30 percent said yes. They estimate that they would use their two wheelers for 35 percent of
the miles they now drive in their cars.